Redeia (REE) investor relations material

Opening remarks and agenda

• The meeting was held exclusively online, ensuring full shareholder participation and equality of rights regardless of location.

• Addressed the challenging international context, including energy crisis risks and climate change impacts.

• Emphasized Spain's energy resilience and the need to strengthen energy self-sufficiency.

• The agenda included a review of strategy and management for 2025, shareholder Q&A, and voting on proposed resolutions.

• External audit procedures were in place to reinforce transparency, including vote and proxy counting.

Financial performance review

• Group revenue grew by 4.2% to €1,716 million, mainly due to increased regulated business in Spain and a new remuneration rate.

• EBITDA increased by 4% to €1,258 million; net income reached €506 million, up 1.6% year-on-year.

• Net debt stood at €5,474 million, with 85% fixed-rate and a cost of debt at 2.24%; net debt/EBITDA ratio was 4.4.

• Achieved record TSO investment in 2025: €1,550 million, up 40% from 2024.

• Sale of Hispasat for €725 million contributed to financial results.

Board and executive committee updates

• The board underwent a self-assessment with external consultancy and updated its competency matrix.

• Three directors departed after reaching term limits; new independent and proprietary directors were proposed and welcomed.

• Board strengthened its strategic role through innovative governance practices.

• Continued commitment to ethics and compliance, with nearly 40 years of ethical focus.

• The board continued annual training and engagement programs with management and workforce.