Redeia (REE) AGM 2025 summary

Opening remarks and agenda

• AGM held telematically to ensure equal participation and resource efficiency, with technical support available for shareholders.

• Board members, CEO, and notary present; meeting convened per legal and corporate requirements.

• External audit of AGM procedures for transparency; audit results to be published.

• Agenda included strategy review, shareholder interventions, voting on proposals, and reporting of results.

Financial performance review

• Record TSO investment: over €1,100 million in 2024, 34% higher than 2023, tripling historical averages.

• EBITDA at €1.21 billion; net profit €368 million, affected by asset reclassification and Hispasat sale.

• Net financial debt at year-end: €5.37 billion, up 7.9%, with strong liquidity and A- credit rating.

• Issued two green bonds totaling €1 billion; 69% of financing is ESG-linked.

• Proposed dividend of €0.80 per share for 2024, with €0.20 interim and €0.60 final dividend.

Board and executive committee updates

• Board self-assessment conducted with external advisor; new annual board activity program implemented.

• Regulations updated for audit committee guidance and gender diversity; women to represent 58.3% of board if proposals approved.

• Farewell and thanks to departing directors; new appointments proposed for approval.