Redeia (REE) investor relations material

Opening remarks and agenda

• Meeting held exclusively online to ensure equal participation and resource efficiency.

• Chair and board members introduced; notary present to certify proceedings.

• 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.

• Agenda included review of 2025 performance, strategic plan for 2026-2029, shareholder Q&A, and voting on resolutions.

Financial performance review

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

• Revenue rose 4.2% to €1,716 million, mainly from regulated business in Spain.

• EBITDA increased by 4.0% to €1,258 million with a margin of 75.8%.

• Net income reached €506 million, up 37.2% year-on-year; net financial debt at €5,474 million, 85% fixed-rate, cost of debt 2.24%.

• Sale of Hispasat for €725 million strengthened financial capacity.

Board and executive committee updates

• Board composition changes: two independent directors and two proprietary directors appointed.

• Board strengthened its strategic role through innovative governance practices.

• Board self-assessment and competency matrix updated; new governance manual developed.

• Gender parity maintained on the board; diversity and inclusion recognized.

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