Lisbon, March 2nd, 2023:EDP - Energias de Portugal, S.A. (“EDP”) hereby informs: Following the announcement from EDP’s 74.98% owned subsidiary EDP Renováveis, S.A. (“EDPR”)on the intention to raise equity of ~€1.0 billion to partially finance EDPR’s updated investment plan, the Board of Directors of EDPR, in compliance with the corporate authorizations in place, has resolved today the approval of a capital increase without pre-emption rights (the “Capital Increase”), to be performed via an accelerated bookbuild (the “ABB”).

As part of this Capital Increase, EDPR entered into an investment agreement (“IA”) on March 1st, 2023 with Lisson Grove Investment Pte. Ltd., a wholly owned subsidiary of GIC Pte Ltd. (“GIC”) pursuant to which the latter committed to, subject to the terms of the IA, market conditions and to a standard lock-up period of 90 days, subscribe ~€1.0 billion at a price of €19.62. Under the IA, EDPR has the option to reallocate up to ~€0.15 billion which EDPR may offer to a selected number of institutional investors at the same price agreed with GIC.

The ABB will commence immediately after this notification. Following the completion of the ABB, the Board of Directors of EDPR, directly or through a duly authorized Director, will determine and announce the final terms of the Capital Increase, including the final subscription amount and number of shares to be issued.

Following the announcement of the final gross proceeds of the Capital Increase, investors are expected to be in receipt of EDPR allocated shares on or around March 7th, 2023. The investors will be entitled to all economic and voting rights inherent to the shares from that date onwards.

EDPR will be subject to a lock-up of 90 days from delivery of the new shares under the Capital Increase, subject to an exception for the Scrip Dividend recently announced and further customary market exceptions, as well as a waiver by the Joint Global Coordinators.

Citigroup Global Markets Europe AG, Goldman Sachs Bank Europe SE, JP Morgan SE and Morgan Stanley Europe SE are acting as Joint Global Coordinators and Joint Bookrunners in relation to the Capital Increase. N.M. Rothschild & Sons Limited is acting as Financial Adviser in relation to the Capital Increase.

EDP – Energias de Portugal, S.A.