REN-Redes Energeticas Nacionais

Capital/Financing Update • Jan 11, 2018

Unofficial Translation This is an unofficial translation of the press release made below and it has been prepared for information purposes only. In the case of any discrepancy between this translation and the Portuguese version, the Portuguese version will prevail.

ANNOUNCEMENT

REN ISSUES 300 MILLION EUROS OF EUROPEAN MEDIUM TERM NOTES

Pursuant to and for the purposes of article 17 of Regulation (EU) number 596/2014 of the European Parliament and of the Council of 16 April 2014, of article 248 of the Portuguese Securities Code and other applicable regulation, REN – Redes Energéticas Nacionais, S.G.P.S., S.A. ("REN") hereby informs the market and the general public that:

On the date hereof, REN Finance B.V. (a company wholly owned by REN) has agreed the terms of an issue of notes in the Euro Bonds market in an amount of 300 million euros, under the respective EMTN (European Medium Term Notes) programme from REN and REN Finance B.V., with a maturity of 10 years and an interest rate equal to 10 years' mid swap rate, accrued of 0.8%. As previously announced, the purpose of this bonds' issue is to repay the bridge loan used on the recent REN Portgás acquisition, the second biggest natural gas distribution company in Portugal.

Lisbon, January 11th 2018

REN – Redes Energéticas Nacionais, SGPS, S.A.

REN – REDES ENERGÉTICAS NACIONAIS, S.G.P.S., S.A. Listed Company (Sociedade Aberta) Share Capital: € 534,000,000 Commercial Registry Office of Lisbon: registry and tax sole number: 503 264 032 Head Office: Avenida Estados Unidos da América, no. 55 1749-061 Lisbon