EDPR Individual Annual Report 2024 Part I 1
3 EDPR Individual Annual Report 2024 Individual management report EDP Renováveis S.A. Management report of December 2024 The Corporate Governance Report and Remuneration Report for the year 2023 are included as Annexes to this Management Report, forming an integral part thereof. The non-financial information required by the regulations has been included in the Consolidated Management Report of the EDP Renováveis Group. 1. The Company EDP Renováveis, S.A. (hereinaſter referred to as “EDP Renováveis”, “EDPR” or the “Company”) total share capital is 5,199,279,355€, following a share capital increase executed and registered on May 23rd, 2024, where 15,877,770 new ordinary shares were issued. As of December 31st, 2024, EDPR total share capital is composed of 1,039,855,871 shares with a nominal value of EUR 5.00 each, fully paid up. All these shares are part of a single class and series and are listed on the regulated market of Euronext Lisbon with the following codes and tickers: ISIN:ES0127797019 LEI:529900MUFAH07Q1TAX06 Bloomberg Ticker (Euronext Lisbon): EDPR PL Reuters RIC: EDPR.LS EDPR main shareholder is EDP, S.A., holding through EDP, S.A. Sucursal en España, with 71.3% of share capital and voting rights. Excluding EDP, EDPR shareholders comprise more than 40,000 institutional and private investors spread in more than 50 countries with main focus in the United States of America, United Kingdom, France and Singapore. Disregarding EDP, institutional investors represent approximately 95% of the Company shareholders, mainly investment funds and socially responsible investors (“SRI”), while private investors, mostly Portuguese, stand for the remaining 5%. For further information about EDPR’s shareholder structure please see chapter 1. The Company (1.4 Shareholder structure) of the Consolidated Management Report. 2. Company business Business environment 2.1. 2024 overview Geopolitical tensions and regional conflicts continued throughout 2024, significantly impacting global stability and energy systems. The ongoing war in Ukraine remained a focal point, with continued international sanctions against Russia and military support for Ukraine defining geopolitical alliances. In the Middle East, heightened tensions raised fears of a broader regional conflict. These conflicts contributed to energy price volatility, as disruptions in supply chains and production capacities led to fluctuating prices. In 2024, inflation kept on following the downward trend already felt in 2023. In the Eurozone inflation was 2.4% by 2024, a drop from 5.4% in 2023, while in the United States, it stood at 2.9% against 4.1% in 2023 (source: Focus Economics). There was a decreasing trend across markets for commodity prices, when considering average annual prices. The Brent price was around 80 dollars per barrel ($/bbl) at the beginning of the year and started to increase to reach the maximum of €90/bbl by April, following the geopolitical tensions in Russia and the Middle East, and the concerns over the potential supply disruptions. Prices decreased towards the end of the year with an average price of $75/bbl in the last trimester. The year ended with an average price of $81 /bbl, very close to the 2023 price of $83/bbl. In 2024, average gas prices decreased both in the US and in Europe. This was especially driven by the lower prices in the first half of the year, with a milder winter on average in the northern hemisphere, good gas storage levels in Europe, and new Liquefied natural gas (LNG) projects coming online and reinforcing supply. Henry Hub – reference index in the US - reached an average price of 2.1 dollars per
4 EDPR Individual Annual Report 2024 million British thermal units ($/MMBtu) in 2024, compared to $2.5/MMBtu in 2023. The European reference gas index (Title Transfer Facility or TTF) price had an average price of €33/MWh in 2024, a 18% decrease compared to the average price of 41 €/MWh in 2023. In Europe, the reference carbon price of the European Emissions Trading System (ETS) was on average €65/ton in 2024, decreasing from the €84/ton average price in 2023, following additional supply and lower emissions. 2024 was a year with multiple political changes and elections taking place in several countries worldwide. Of all, at least three should be highlighted, as they may bring significant changes to the energy sector. In June, a new European Parliament was elected, with centrist parties ensuring the majority and right-wing parties gaining seats, which could weaken net-zero target ambitions. Secondly, the UK election brought to power the Labour Party bringing forward strong ambition on renewables and nuclear deployment. And thirdly, the elections in the US with a victory for the Republican party potentially threatening the climate transition pathway the country has been pursuing in the past years. Electricity demand keeps growing worldwide with special aention on artificial intelligence and data centres, a source of additional demand with big growth potential in the coming years. The electrification of other end-uses such as road transport is a key trend for the energy sector with the unprecedented growth of electric vehicles, which reached 7 million in global sales in the first half of 2024 (25% more than in 1H2023), mainly led by China with over 4 million (source: IEA WEO 2024). European Energy Policy In 2024, European energy policy saw several significant developments aimed at enhancing energy security, sustainability, and the transition to a net-zero future. In February, the European Commission presented a climate assessment seing targets for 2040, including a 55% reduction in greenhouse gas emissions compared to 1990 levels, a 45% share of renewable energy in the EU's energy mix, and a 40% improvement in energy efficiency. Moreover, there was relevant progress on legislative pieces. The revision of the Regulation and Directive on the Internal Electricity Market came into force in July 2024, aiming to stabilise electricity prices while ensuring a resilient electricity system fit to meet the ambitious decarbonization targets. The revision promotes price predictability through enhancing the uptake of Power Purchase Agreements (PPAs) and 2-ways contracts for differences (CfDs). Resiliency is ensured by identifying capacity mechanisms as structural elements of the market design, complemented by non-fossil flexibility support schemes. Anticipatory investments in grids are recognized to support the energy transition, while customers benefit from additional protection mechanisms. The Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) was strengthened to prevent market manipulation and increase transparency. The revised REMIT came into force in May 2024. The amendments included enhanced monitoring and enforcement mechanisms, beer alignment with financial market regulations, and increased penalties for non-compliance. Global warming in 2024 2024 has become the warmest year on record, according to the European Earth Observation Programme, “Copernicus”. Unprecedented global temperatures led 2024 to become the hoest year ever registered, overtaking 2023. From January to September, global mean surface air temperature was 1.54°C warmer than the 1850-1900 pre-industrial level, boosted by the warming event El Niño. 2024 is the year in which the threshold of the 1.5°C agreed under the Paris Climate Agreement is surpassed. Global warming has already caused devastating disruptions in ecosystems, populations, and economies all around the globe, and impacts seem to be increasingly catastrophic. The year 2024 was no exception and important climate-related events caused widespread damage all around the world. Italy and South America were hit by severe droughts, while there were extreme floods in Nepal, Sudan, and Europe. Heatwaves in Mexico, Mali, and Saudi Arabia killed thousands and the US, and the Philippines experienced devastating cyclones (source: Reuters). Climate negotiations: 29th Conference of the Parties of the UNFCCC (COP 29) The 2024 United Nations Conference of the Parties (COP) took place in Baku, Azerbaijan from November 11th to 22nd. A new climate finance goal was agreed upon targeting investment for the developing nations and their climate efforts. Developed countries commied to mobilize at least $300 billion annually for developing countries by 2035 (previous commitment was $100bn set in 2009 for the 2020-2025 period), with a long-term goal to scale up to $1.3 trillion per year by 2035, from all public and private sources. Aſter many years of negotiations, the rules and guidelines on international carbon trading were finalised and formally adopted (Article 6 of the Paris Agreement). With this program, it will be possible for countries to trade carbon credits from greenhouse gas reductions or removals, and in this way help other countries meet their climate goals, allowing as well the private sector to participate.
5 EDPR Individual Annual Report 2024 The Net Zero Industry Act (NZIA) came into force in July 2024 to strengthen European manufacturing capacity and promote measures to overcome barriers to the scaling up of such capacity, facilitating market access for net-zero products. The Regulation also includes provisions for financial support, innovation incentives, and the development of a skilled workforce in the net-zero technology sector. To secure the supply of critical and strategic raw materials, the Critical Raw Materials Act entered into force in May 2024. The Regulation identifies lists of raw materials needed for key technologies for the EU's green ambitions and goals. It sets benchmarks to be achieved by 2030: the EU should mine 10% of its annual needs, process 40% of its needs, and cover 25% of its needs through recycling. It also promotes international partnerships and sustainable sourcing practices. The Energy Performance of Buildings Directive was revised and entered into force in May 2024. The revision aimed to increase the rate of building renovations and support decarbonisation. An implementation guide was launched in November 2024 to help stakeholders enhance energy efficiency in buildings. The Directive also includes measures to promote smart technologies and protect vulnerable consumers. Additionally, the Hydrogen and Gas Decarbonisation Package came into force in July 2024, introducing a new regulatory framework for hydrogen infrastructure, promoting the development of a competitive hydrogen market, and an update on EU natural gas market rules. The hydrogen regulatory framework includes provisions for the certification of renewable and low-carbon hydrogen, the repurposing of existing natural gas infrastructure for hydrogen transport, and the establishment of hydrogen networks. It aims to facilitate the integration of hydrogen into the energy system and support the EU's hydrogen strategy. Finally, to strengthen EU competitiveness, Mario Draghi was tasked by the European Commission to prepare a report on his vision for the future of European competitiveness. The Draghi Report, published in September 2024, looks at the challenges faced by the industry and companies in the single market and offers recommendations for sectoral policies, including on energy, clean technologies, and energy-intensive industries. The findings of the report will contribute to the development of the new Clean Industrial Deal, which will be presented in the first 100 days of the new Commission mandate. US Energy Policy 2024 regulatory framework in the United States has been impacted by Federal Energy Regulatory Commission's (FERC) long-term transmission planning rule and the result of Presidential elections. FERC's Order No. 1920, published on May 13, 2024, mandates comprehensive long-term transmission planning to enhance grid reliability, requiring transmission providers to develop 20-year regional plans every five years, considering various scenarios and benefits, including options for enhancing existing facilities ("right-sizing"), and deploying grid enhancing technologies. An amended version, Order 1920A, issued in December, clarifies the state's role in planning, allowing states to request additional scenarios and incremental cost considerations. Transmission providers must detail costs and benefits of potential Long-Term Regional Transmission (LTRT) facilities on a zonal basis, and if states agree on a cost allocation approach, it must be filed with FERC. Costs can be assigned based on specific benefits, and states can request an additional six months for cost allocation negotiations, extending the compliance period and planning cycles. In the November federal elections, Republicans gained control of the presidency, Senate, and the House. Immediately following President Trump’s inauguration on January 20th, he signed a litany of Executive Orders, three of which directly impact the renewables sector. A positive implication of these orders is a streamlining to the permiing processes and regulations surrounding energy. Negatively, the orders ban federal leases for offshore wind projects, aempt to pause onshore wind by restricting federal permiing, and temporarily pause on regulation that has not yet take full effect. These orders will not directly affect the ITC and PTC within the IRA. These orders did not include details on the timelines and scopes of their reach; however, in the coming weeks and months as Trump appointees assume their respective offices across federal agencies and budget reconciliation discussions continue, specifics on how these Executive Orders will affect the renewables sector will become more clear. This shiſt will certainly bring change to clean energy policy, but Republicans remain split on IRA repeal. A full repeal of the IRA remains unlikely, but it will face political and fiscal pressures. Tariffs under the new administration are expected to be more targeted despite Trump’s broad campaign promises. Policies will emphasize domestic manufacturing but may also face opposition from key industries. The Manchin-Barrasso Energy Permiing Reform Act is expected to stall; focus may shiſt towards oil and gas-friendly policies and limited federal land use for clean energy projects. FERC’s Democratic majority will persist until 2026 but could shiſt under new leadership. State-level policies could become more influential in response to federal changes.
6 EDPR Individual Annual Report 2024 1.2. The evolution of renewables around the world in 2024 The International Energy Agency (IEA) 1 reports that global renewable energy capacity grew by approximately 18% in 2024 compared to the previous year. Capacity additions reached an estimated 666 GW, surpassing the 600 GW threshold for the first time, with solar photovoltaic (PV) contributing around three-quarters of the total. This substantial growth underscores the potential for even faster expansion over the next five years, improving the likelihood of tripling global renewable capacity by 2030—a goal set during the COP 28 Climate Change Conference. The IEA projects annual additions will climb from 666 GW in 2024 to nearly 935 GW by 2030, with renewables expected to account for almost half of the world’s electricity generation by the decade's end. The remarkable growth in renewables is driven more by economic factors than climate policies. In many countries, renewables—particularly solar power—have become the most cost-effective option for new power generation. China is poised to solidify its position as the leader in renewable energy, increasing wind and solar capacity of 18% and 45,2% respectively. Meanwhile, the European Union and the United States are projected to double their renewable growth rates between 2024 and 2030, and India is anticipated to achieve the fastest growth rate among major economies. Wind power in 2024: record additions but uneven expansion Onshore According to IEA estimations, global wind additions could have reached 126 GW in 2024 2 . This would represent, the highest figure ever seen, mainly due to a strong performance of the offshore wind sector, with around 20 GW commissioned. Long-term fundaments remain strong for the coming years, and supportive policies in China, the US and Europe, are expected to boost wind additions in the coming years. However, short and medium-term challenges in project execution remain. New installations in China could have hit a record and grow 80 GW, with data from the National Energy Administration pointing to a total wind installed capacity of 520 GW. In the US, new installations have grown at a moderate pace, with around 6-7,5 GW built in 2024. The Inflation Reduction Act, approved in 2022, has played a key role in fuelling wind energy investments 1 “Renewables 2024” released in October 2024 2 Forecasts made by experts including IEA, BNEF and S&P 3 Data released by the German Wind Energy Association (BWE) and engineering federation VDMA Power Systems. and strengthening the domestic supply chain. However, following Trump's re-election, there are concerns that the US's climate ambitions could be rolled back. Despite these concerns, an outright repeal of the IRA is unlikely according to experts, given the popularity of its tax credits and the economic benefits they bring to many Republican-leaning states. According to preliminary figures from Wind Europe, approximately 15 GW of wind capacity may have been commissioned in Europe in 2024, a decrease from 18.3 GW in 2023. The EU only added 13 GW of wind capacity in 2024, significantly below the 30 GW per year required to meet its 2030 energy targets. However, there are reasons for optimism. Onshore wind permiing reached record levels in the first half of 2024, driven largely by new EU permiing rules and progress in implementing the Renewable Energy Directive (RED III). Additionally, Europe awarded 37 GW of wind in 2024, more than ever before and turbine orders also saw improvements during the same period. Germany was the largest market, installing 3,2 GW of onshore wind, of which, around a third, came from repowering projects. In addition, 14 GW of wind were permied in 2024 and 11 GW were awarded in auctions 3 . Other major onshore markets in 2024 include Finland, France, Spain and Sweden. In the UK, the National Energy System Independent Operator (NESO) reported that in 2024, wind was the largest source of electricity generation in the country for the first time in its history, representing 30% of total generation. In South America, Brazil remains the largest wind market, with record additions of 4,3 GW 4 . This growth could bring Brazil’s total installed capacity to more than 34 GW, making it the country’s second-largest generating technology, aſter large-scale hydro. Offshore According to experts 5 , between 14 and 21 GW of new offshore wind projects could have been commissioned across the world. Developers still struggle with higher costs, supply chain constraints and regulatory uncertainty. China is expected to be the largest contributor aſter than the government prioritized offshore wind in its 14th Five-year Plan. Experts forecast that around 9-14 GW could have been added in the country. 4 Data released by the National Electricity Energy Agency (ANEEL) 5 Experts consulted include IEA, GWEC, BNEF and S&P
7 EDPR Individual Annual Report 2024 According to Wind Europe preliminary data, Europe commissioned 2,3 GW of offshore wind capacity, less than the 3,8 GW witnessed in 2023. Most of this capacity was installed in Germany, France and the UK. 2024: a record-breaking year for solar PV global installations 2024 is on course to become another record-breaking year for solar PV, with the IEA forecasting around 505 GW of new installed capacity, a 18,5% increase compared to 2023. Solar PV accounted for nearly three-quarters of all renewable energy additions globally, highlighting its pivotal role in the transition to clean energy. According to preliminary forecasts, around 60% of new solar PV capacity would be utility-scale projects and the remaining ones small-scale (mainly residential and commercial systems). China is expected to have significantly expanded its solar PV capacity in 2024, installing approximately 277 GW according to data released by China’s National Energy Administration (NEA). With these results, China consolidates its position as the largest player in the global solar PV industry, both in terms of manufacturing and installed capacity. Its dominance is a result of comprehensive policy initiatives, massive investments and economies of scale. India also saw a great surge in solar installations in 2024. Only in the first six months of 2024, India had already installed more solar capacity than it did in the whole 2023, (15 GW vs 10 GW in 2023) reaching 24,5 GW at the end of 2024. In the US, approximately 38-43 GW of solar PV capacity could have been added in 2024, according to analysts consulted 6 . Solar PV is the fastest-growing source of electricity in the US, making up almost half of all new power capacity in the first three quarters of 2024. As reported by the American Clean Power Association, 19.5 GW of utility-scale solar capacity was commissioned during the first three quarters of 2024, more than twice the amount installed by the same time in 2023. In 2024, the EU achieved a record-breaking installation of 65.5 GW of solar capacity, marking a 4% increase compared to 2023, as reported by Solar Power Europe. Solar PV has surpassed in 2024 all other technologies in terms of new capacity added, bringing the EU's total operational solar power capacity to 338 GW. Aſter several years of remarkable growth, with a 41-53% increase observed between 2021 and 2023, the sector has experienced a significant slowdown in deployment. According to Solar Power Europe, this deceleration is aributed to the stabilization of energy bills for consumers, along with other challenges such as permiing issues, grid bolenecks, limited energy 6 Experts consulted include IEA, SEIA (Solar Energy Industries Association), American Clean Power Association, S&P and Bloomberg New Energy Finance system flexibility, and low power prices, particularly during solar PV hours, which impact profitability. At the national level, Solar Power Europe reported that five of the top ten EU solar markets—Spain, Poland, the Netherlands, Austria, and Hungary—installed less solar capacity in 2024 compared to 2023. In contrast, Germany, Italy, France, Greece and Portugal achieved modest increases, with most adding approximately 1 GW more than the previous year. Germany continues to lead the European solar PV market, adding 16.2 GW of new capacity in 2024, according to the German Federal Network Agency (BNetzA). These additions bring the country's total installed capacity to nearly 100 GW, accounting for approximately 14% of its electricity consumption. In South America, Brazil remains a leader in solar energy, surpassing 50 GW of operational solar capacity in 2024. With this milestone, Brazil joins an elite group of six countries—China, the United States, Germany, India, and Japan—that have achieved over 50 GW of installed solar capacity Storage and flexibility: key drivers for a resilient and decarbonized energy future The global energy system is undergoing a profound transformation, driven primarily by the increasing share of renewable energy, the deployment of distributed energy resources, and progress in digitalization. However, to successfully achieve the clean energy transition and ensure secure and resilient power systems, flexibility must be integrated throughout the entire system. Energy system flexibility refers to the ability to adjust supply and demand to achieve an energy balance. It has become a critical priority because larger shares of variable renewables (in particular wind and solar PV) increase the potential for imbalances, curtailment and negative prices. There are different tools and technologies to increase flexibility, including electricity storage, stronger grids, demand-side response and dispatchable lower-emissions sources of power. The global energy storage market has been rapidly increasing since 2020 and is set for another record year, with experts forecasting around 64-69 GW of additions, of which around 50% would be in China. Hydro pumped storage remains the dominant form of energy storage today, accounting for the majority of global storage capacity. As a mature and well-established technology, it plays a crucial role in balancing supply and demand, providing grid stability, and supporting the integration of renewable energy. By using surplus electricity to pump water to a higher elevation and then releasing
8 EDPR Individual Annual Report 2024 it to generate power when needed, hydro pumped storage has been a reliable and efficient solution for decades. However, as the energy landscape evolves, new storage technologies, such as baeries, are emerging to complement hydro pumped storage. Baeries—particularly lithium-ion baeries—are becoming an increasingly vital component of energy systems. Their widespread deployment could transform the global energy landscape by enabling sustainable technologies to meet demand, ultimately reducing global emissions and accelerating the transition to clean energy. Baeries are also versatile, serving both grid-scale applications and smaller, behind-the-meter uses in residential and commercial seings to optimize energy consumption. As baery costs continue to fall due to lower raw material prices and expanded manufacturing capacity, they are becoming more cost-competitive, with further reductions anticipated as electric vehicle production scales up. However, challenges remain. Energy storage must be integrated into national energy plans, with dedicated support mechanisms established to ensure long-term revenue stability and predictability. A well-designed market, including effective capacity markets and flexible market mechanisms, is also essential to fully unlock the potential of storage. In the context of European market design, the development of such markets will be crucial to promote efficient integration of storage technologies and enhance grid stability. Furthermore, conducting comprehensive flexibility assessments will be key to optimizing the role of storage in balancing supply and demand. Additionally, diversifying and strengthening supply chains is crucial, as baery production is currently concentrated in specific regions, posing potential security of supply risks. Grid infrastructure and interconnectors are vital for flexibility, as they enable electricity to flow across countries and within national borders, helping to balance geographic fluctuations in wind and solar power generation. While global investments in grids have significantly increased in recent years, delays in grid improvements and extensions remain a major obstacle to the wider deployment of renewable energy. However, these challenges can be addressed through: (i) long-term grid planning, (ii) anticipatory investments, (iii) faster permiing processes, (iv) implementation of smart grid technologies, and (v) new mechanisms to reduce connection backlogs, among other measures. In 2024, at COP 29, countries acknowledged that energy storage and grid infrastructure are essential for building resilient and decarbonized energy systems. This was crystallized in their commitment to (i) achieving 1,500 GW of energy storage in the global power sector by 2030, more than six times the level in 2022, and (ii) enhancing grid capacity through a global goal of adding or refurbishing 25 million kilometres of grid infrastructure by 2030. Strategy The energy transition is crucial for addressing climate change, and there is a clear shiſt in global dynamics showcasing the higher need for endogenous, affordable, and reliable energy. This shiſt has been aggravated by the impact of macro movements, that have promoted the volatility of energy markets and concerns about energy security. Renewables are recognized as key in the global solution to quick energy independence, national security, and a sustainable long term business. To take early action in the energy transition and be beer positioned to seize the opportunities presented by this shiſt, EDPR released in March 2023 its Business Plan for 2023-26, where it clearly restates the Company’s commitment to step-up to the Net Zero challenge and create superior value as a leading pure renewable global player. Since March 2023, the market context rapidly changed, with a significant decline in forward electricity prices and persistently high interest rates. In response, in May 2024, EDPR decided to adjust growth prioritizing returns over volume, and continuing to improve efficiency to ensure long- term shareholder value creation.
9 EDPR Individual Annual Report 2024 Operational performance OPERATING PORTFOLIO INSTALLED CAPACITY 2024 (MW) NET CAPACITY FACTOR (%) ELECTRICITY GENERATION (GWh) DEC-24 ADDED AR (1) YTD (2) 2024 2023 PP YOY 2024 2023 % YOY Europe 6014 912 -433 479 0.25 0.26 -1,0pp 11545 11619 -0.01 Spain 2335 293 0 293 0.25 0.25 -0pp 4305 4491 -0.04 Portugal 1413 0 0 0 0.27 0.27 +0,6pp 3179 2701 +18% Rest of Europe 2267 619 -433 186 0.25 0.28 -3pp 4062 4428 -0.08 France 280 35 0 35 0.22 0.28 -6pp 470 525 -0.1 Belgium 11 0 0 0 0.28 0.34 -5pp 26 29 -0.11 Poland 621 65 -242 -177 0.27 0.28 -1pp 1661 1749 -0.05 Romania 570 49 0 49 0.24 0.28 -4pp 1081 1284 -0.16 Italy 509 287 -191 96 0.25 0.26 -1,1pp 649 747 -0.13 Greece 150 70 0 70 0.22 0.22 -1pp 136 86 +58% UK 5 0 0 0 0.21 0.21 -1pp 10 9 +11% Netherlands 49 40 0 40 0.04 0 +4pp 29 0 0 Hungary 74 74 0 74 - - - 0 0 0 North America 9047 1883 -649 1234 0.3 0.3 +1pp 20170 17306 +17% US 8422 1883 -352 1531 0.3 0.3 +1pp 18122 15428 +17% Canada 130 0 -297 -297 0.33 0.27 +6pp 611 394 +55% Mexico 496 0 0 0 0.31 0.35 -4pp 1436 1484 -0.03 South America 1702 455 -1 454 0.34 0.41 -7pp 3441 4483 -0.23 Brazil 1619 455 -1 454 0.34 0.41 -6pp 3340 4483 -0.25 Chile 83 0 0 0 0.29 0 +29pp 101 0 0 APAC 1022 132 0 132 0.17 0.17 -0pp 1396 1184 +18% Vietnam 402 0 0 0 0.21 0.21 +0pp 751 743 +1% Singapore 363 48 0 48 0.13 0.13 +0,9pp 390 296 +32% Rest of APAC 257 84 0 84 0.14 0.15 -1pp 256 145 +76% Total EBITDA level 17785 3383 -1083 2300 0.29 0.3 -2pp 36551 34593 +6%
10 EDPR Individual Annual Report 2024 OPERATING PORTFOLIO INSTALLED CAPACITY 2024 (MW) DEC-24 ADDED AR (1) YTD (2) Europe 800 419 -81 338 Spain 120 - - - Portugal 28 - - - Rest of Europe 652 419 -81 338 North America 719 - 127 127 US 660 - 68 68 APAC 59 - 59 59 Rest of APAC 11 0 -5 -5 Total Equity level 1530 419 41 460 TOTAL (EBITDA + Equity) 19315 3802 -1042 2760 With a top-quality porolio, EDPR has a strong track record and proven capability to execute superior projects and deliver on targets. It has a young and diversified porolio of 19.3 GW with an average age of 9 years. As of 2024, EDPR had, in terms of EBITDA + Equity capacity, 6,814 MW installed in Europe, 9,766 MW in North America, 1,702 MW in South America and 1,033 MW in APAC. In terms of technology, EDPR continued its effort to diversify its porolio, which translates into 12,879 MW of wind onshore, 660 MW of wind offshore and 5,570 MW of solar technology, that includes both solar PV utility-scale and solar DG along with 207 MW of storage capacity. During 2024,EDPR added a total of 3,802 MW globally, with Europe and North America representing 85% of the total new installations, and a larger share of solar capacity vs. wind. . More specifically, EDPR added 362 MW of wind onshore, corresponding to 162 MW in Europe, namely 72 MW in Italy, 70 MW in Greece, and 20 MW in Spain, and 201 MW in South America, coming from two wind projects in Brazil. In terms of solar capacity, EDPR added a total of 2,830 MW, corresponding to 1,693 MW in the US, 273 MW in Spain, 215 in Italy, 74 in Hungary, 65 in Poland, 49 in Romania, 40 in Netherlands, 35 in France, 255 MW in Brazil and 132 MW in APAC. Installed capacity as of Dec-24 was also balanced by 4 Asset rotation transactions closed in 2024, amounting to 1 GW. In 1H24, one deal in US for an 80% stake in a 0.3 GW solar porolio, and another deal in Canada for an 80% stake in a 0.3 GW wind project. In 2H24, two deals in Europe, one for 100% stake in a 0.2 GW wind porolio in Italy and other for 100% stake in a 0.2 GW wind and solar porolio in Poland. All in all, in 2024, EDPR consolidated porolio net variation was +2.8 GW. EDPR produced 36.6 TWh (+6% YoY) of clean energy in 2024 and achieved a 28% load factor (vs 29% in 2023) reflecting a 98% renewable index. The YoY evolution has been affected by the increase of 17% in installed capacity with a high concentration of annual additions in the last quarter of the year. In terms of resource, generation has been impacted by the increase of solar capacity weight, with lower load factors vs wind, as well as lower YoY resource in Brazil. Financial performance EDP Renováveis S.A.'s net profit in 2024 was EUR -346,278 thousand, down from EUR -247,716 thousand in 2023. Income in 2024 amounted to EUR 211,696 thousand, which represents a decrease of 9% compared to 2023 (EUR 232,130 thousand). The negative financial result during the financial year 2024 was EUR 232,214 thousand, representing a decrease of 6% compared to 2023 (EUR 247,177 thousand), mainly due to financial expenses and foreign exchange. Non-financial information The non-financial information required by the Spanish Regulation has been included in the Consolidated Management Report of the EDP Renováveis Group. On average, during 2024, there were 451 employees in EDP Renováveis, S.A., an increase of 1% compared to 447 employees in 2023.
11 EDPR Individual Annual Report 2024 For information on EDPR's human capital approach, please refer to chapter 6.3. Social Information | S1 Own workforce of the Consolidated Management Report. Information on average payment terms to suppliers In 2024, total payments made to suppliers amounted to 84,264 thousand euros with an average payment period of 16 days, below the legally stipulated payment period of 60 days. 3. Foreseeable evolution The Company will continue to control its current holdings in different subsidiaries, not having foreseen any activity different from those currently carried out. 4. Research, development, and technological innovation Technical innovation is one of the hallmarks of EDPR. The Company’s history is built on the continuous searching of new trends and solutions in energy production to meet its stakeholders’ expectations. Accordingly, EDPR develops projects within the framework of its two main strategic pillars for Innovation: Cleaner Energy focused on sustainable power generation, and Energy Storage & Flexibility to ensure a smoother transition to an energy mix system. For more information on EDPR innovation and digitalisation, see chapters 6.5. Other Material Topics | Digital transformation and innovation of the Consolidated Management Report. 5. Relevant & subsequent events Relevant events of the period RELEVANT EVENTS 1 04-Jan EDPR informs on Asset Rotation deal for a solar porolio in North America 2 24-Jan EDPR secures its first PPA in Germany 3 07-Feb EDPR informs on PPA secured for a 250 MW porolio in Spain 4 12-Feb EDPR informs on CfDs secured for 100 MW of onshore wind in Italian auction 5 14-Feb EDPR informs on Asset Rotation deal for a wind project in Canada 6 15-Feb EDPR informs on completion of AR deal for a solar porolio in North America 7 27-Feb EDPR informs on government tender secured for solar projects in Singapore 8 02-Apr EDPR informs on around 100 MW of storage capacity secured in the US 9 18-Apr EDPR informs on completion of AR deal for a 297 MW wind project in Canada 10 02-May EDPR informs on feasibility license awarded to OW in Australia 11 08-May EDPR informs on completion of the sale of a minority stake by OW in Moray East 12 11-Jun EDPR informs on Long-Term contract secured for 75 MW of Storage in Canada 13 25-Jun EDPR informs on 133 MW solar capacity secured in Europe 14 28-Jun EDPR informs on Asset Rotation deal signed for a renewables porolio in Italy 15 10-Jul EDPR informs on PPA secured for 150 MWac solar project in US 16 15-Jul EDPR informs on PPA secured for 100 MWac solar project in US with Google 17 17-Jul EDPR informs on completion of AR deal for a renewables porolio in Italy 18 23-Jul EDPR informs on 24-year contract secured for 200 MW of Storage in the US 19 25-Jul EDPR informs on PPA secured for 44 MW solar project in Japan
12 EDPR Individual Annual Report 2024 RELEVANT EVENTS 20 02-Aug EDPR informs on signing an AR deal of a 240 MW porolio in Poland 21 26-Aug EDPR signs PPA for a solar project in Singapore 22 16-Sep EDPR informs on contract secured for 85 MW of Storage in the US 23 27-Sep EDPR releases Plan for Gender Equality for 2024-25 24 09-Oct EDPR informs on conclusion of buyback of minority stake in 1 GW wind porolio in Europe 25 23-Oct EDPR informs on completion of Asset Rotation deal in Poland 26 16-Dec EDPR informs on signing an Asset Rotation deal of a 82 MWac porolio in Spain 27 18-Dec EDPR informs on long-term contracts awarded for 160 MW of Storage in Poland 28 19-Dec EDPR decides to exit its Colombian projects 6. Own shares EDPR does not hold own shares. 7. Risk management The Company's activities are exposed to various financial risks, including movements in Interest Rates, Foreign Exchange Rates (FX), Inflation and Commodity prices. It also includes Earnings on Equity risk, due to the relevance of asset rotation in EDPR's strategy. The Company's overall risk management programme focuses on the uncertainty of financial markets and seeks to minimise the potential adverse effects on the Company's financial performance. The Company uses derivatives to mitigate certain risks. The Company's Board of Directors is responsible for defining general risk management principles and seing exposure limits, which is carried out by the Company's Finance Department in accordance with policies approved by the Board of Directors. The main functions include, among others, the identification and evaluation of hedging instruments. All transactions in financial derivative instruments are subject to prior approval by the Board of Directors, which defines the parameters of each transaction and approves the formal documents describing the objectives of the transactions. EDPR's risk taxonomy, from an integrated perspective and in a common language, is structured around six blocks: Energy Market risk, Financial risk, Strategic risk, Counterparty risk, Operational risk and ESG Risk. Further details on the The various risks to which EDPR is subject, which fall into these categories, are available on the EDPR website: EDPR Risk Taxonomy | edpr.com.
14 64 Part I. Information on shareholder structure, organisation and corporate governance Part II. Corporate governance assessment Annex I. Curricula vitae of the Board of Directors EDP Renováveis S.A. 74
EDPR Individual Annual Report 2024 14 PART I - Information on shareholder structure, organisation and corporate governance A. Shareholder structure I. Capital structure 1. Capital structure EDP Renováveis, S.A. (hereinafter referred to as “EDP Renováveis”, “EDPR” or the “Company”) total share capital is 5,199,279,355€, following a share capital increase executed and registered on May 23 rd , 2024, where 15,877,770 new ordinary shares were issued. As of December 31 st , 2024, EDPR total share capital is composed of 1,039,855,871 shares with a nominal value of EUR 5.00 each, fully paid up. All these shares are part of a single class and series and are listed on the regulated market of Euronext Lisbon with the following codes and tickers: ISIN:ES0127797019 LEI:529900MUFAH07Q1TAX06 Bloomberg Ticker (Euronext Lisbon): EDPR PL Reuters RIC: EDPR.LS EDPR main shareholder is EDP, S.A., holding through EDP, S.A. Sucursal en España, with 71.3% of share capital and voting rights. Excluding EDP, EDPR shareholders comprise more than 40,000 institutional and private investors spread in more than 50 countries with main focus in the United States of America, United Kingdom, France and Singapore. Disregarding EDP, institutional investors represent approximately 95% of the Company shareholders, mainly investment funds and socially responsible investors (“SRI”), while private investors, mostly Portuguese, stand for the remaining 5%. For further information about EDPR’s shareholder structure please see chapter 1. The Company (1.4 Shareholder structure). 2. Restrictions on the transferability of shares EDPR’s Articles of Association have no restrictions on the transferability of shares. 3. Own shares As of December 31 st , 2024, EDPR did not hold own shares. 4. Change of company control EDPR has not adopted any measures designed to prevent successful takeover bids, nor defensive measures for cases of a change in control in its shareholder structure or agreements subject to the condition of a change in control of the Company, other than in accordance with normal practice, and therefore, has not adopted any mechanisms that imply payments or assumption of fees in the case of the transfer of control or the change in the composition of the managing body, or that could be likely to harm the free transferability of shares or shareholder assessment of the performance of the members of the managing body. Notwithstanding the above, the following are normal market practice related to a potential change of control: In the case of financing of certain wind farm projects, lenders have the right to approve change in control at the borrower if the later ceased to be controlled, directly or indirectly by EDP. In the case of guarantees provided by EDP Group companies, if EDP directly or indirectly ceases to have the majority of EDPR, then EDP is no longer obliged to provide such services or guarantees. The relevant subsidiaries will be obliged to provide for the cancellation or replacement of all outstanding guarantees within approximately sixty (60) days of the change of control event. In the cases of intra-group services agreements and according to the Framework Agreement signed between EDP Renováveis, S.A. and EDP, S.A., the contracts will maintain their full force
EDPR Individual Annual Report 2024 15 as long as (i) EDP maintains its share capital above 50% or the right to exercise directly or indirectly more than 50% of voting rights on EDPR’s share capital, or (ii) even if the share capital of EDP or its voting rights are below 50%, but more than half of the Members of the Board are elected through an EDP proposal. 5. Defensive measures EDPR does not have a special system for the renewal or withdrawal of counter measures for the restriction on the number of votes capable of being held or exercised by only one shareholder individually or together with other shareholders. 6. Shareholders’ agreements The Company is not aware of any shareholders’ agreement that may result in restrictions on the transfer of securities or voting rights. II. Shareholdings and bonds held 7. Qualifying holdings Qualifying holdings in EDPR are subject to the Spanish Law, which regulates the criteria and thresholds of the shareholder’s ownerships. The table below includes the information about the qualifying holdings of EDPR and their voting rights as of December 31 st , 2024: SHAREHOLDERS SHARES EDP, S.A. (through EDP, S.A. – SUCURSAL EN ESPAÑA) 741,377,952 GIC 44,259,918 BLACKROCK INC. 31,500,493 Total qualified holdings 817,138,363 As of December 31 st , 2024, EDPR’s shareholder structure consisted in a total qualified shareholding of 78.58%, corresponding to EDP, GIC and Blackrock Inc., with 71.30%, 4.26% and 3.03% of the capital, respectively. 8. Shares held by the Members of the Management and Supervisory Boards As of December 31 st , 2024, only Rui Teixeira, member of the Board of Directors, held directly 356 EDPR shares. 9. Special powers of the Board of Directors The Board of Directors is vested with the broad-ranging powers of administration and management of the Company, with no other limitations besides the powers which are expressly assigned to the General Shareholders’ Meetings in the Company’s Articles of Association (specifically in article 13) or in the applicable law. In this regard, the powers of the Board include, without limitation 1 to: Acquire on lucrative or onerous title basis personal and real property, rights, shares and interests that may suit the Company. Sell and mortgage or charge personal and real property, rights, shares and interests of the Company and cancel mortgages and other rights in rem. Negotiate and enter into loans and credit operations that it may deem appropriate. Negotiate and formalize all sort of acts and contracts with public entities or private persons. Exercise civil and criminal actions and all further actions to be undertaken by the Company, representing it before governmental officers, authorities, corporations, governing, administrative, administrative-economic, administrative-litigation and judicial courts, labour courts and the labour sections of the Supreme Court and of the High Courts of the Autonomous Communities, with no limitations whatsoever, including before the European Court of Justice, and in general before the Government, in all its levels and hierarchies to intervene or promote, follow and terminate, through all procedures and instances, the processes, court sections or proceedings to accept decisions, to file any kind of appeal, including the cassation one and other extraordinary appeals, to discontinue or confess, to agree an early termination of a proceeding, to submit litigious questions to arbitration judges, and to carry out all sorts of notices and requirements and to grant a power of attorney to Court Representatives and other representatives, with the case- related powers and the powers which are usually granted to litigation cases and all the special powers applicable, and to revoke such powers. Agree the allotment of interim dividends. 1 This list has a merely indicative nature, as the Board of Directors may perform all further powers expressly granted to the Board in the Articles or in the applicable law.
EDPR Individual Annual Report 2024 16 Call and convene the General Shareholders’ Meetings and submit to them the proposals that it deem appropriate. Direct the Company and organize its operations and exploitations by acknowledging the course of the Company businesses and operations, managing the investment of funds, making extraordinary amortizations of bonds and realizing anything that it is considered appropriate for the best achievement of the Company’s objectives. Determine the roles of the members of the Board of Directors and to appoint and dismiss other Company’s technical and administrative personnel, defining their responsibilities and remuneration. Agree any changes of the registered office’s address within the same municipal area. Incorporate legal entities as stipulated under the law. assigning and investing all sorts of assets and rights, as well as entering merger and cooperation agreements, association, grouping and temporary union agreements between companies or business and joint property agreements, and agreeing their alteration, transformation and termination. Likewise, the General Shareholders’ Meeting held on March 26 th , 2020, approved the delegation to the Board of Directors of the power to issue in one or more occasions both: Fixed income securities or other debt instruments of analogous nature. Fixed income securities or other type of securities (warrants included) convertible or exchangeable into EDP Renováveis, S.A. shares, or that recognize at the Board of Directors’ discretion the right of subscription or acquisition of shares of EDP Renováveis, S.A. or of other companies, up to a maximum amount of three hundred million Euros (EUR 300,000,000) or its equivalent in other currency. As part of such delegation, the General Shareholder’s Meeting delegated into the Board of Directors the power to increase the share capital up to the necessary amount to execute the related tasks above. Additionally, it was also approved to authorize the Board of Directors for the acquisition of own shares by the Company and/or the affiliate companies up to the maximum limit of 10% of the subscribed share capital. These delegations may be exercised by the Board of Directors within a period of five (5) years since the proposal was approved, and within the limits provided under the law and the By-Laws. Likewise, on the General Shareholders’ Meeting held on March 31 st , 2022, it was also approved the delegation to the Board of Directors of the power to carry out increases of share capital with the exclusion of the pre-emptive subscription rights (on one or several occasions) within the maximum term of five years. The total maximum amount of the increase or increases decided upon under this authorization shall be no higher than 50% of the present share capital. or in the event that the increase of capital excludes the pre-emptive subscription right of shareholders, than the 20% of the present share capital. This authorization shall be extended, as broadly as may be required by Law, to the setting and determination of those terms inherent in each of the increases in order to obtain any authorizations required under the legal provisions in force (including, but without being limited to, the determination of the amount and date of implementation, the number of shares to be issued, with or without voting rights, with or without a share premium, consisting of the countervalue of the new shares to be issued in monetary contributions, and being able to determine the terms and conditions of the increase of capital and the characteristics of the shares). Should be noted that, it has been specifically stated with regards to this authorization that the total or partial exclusion of the pre- emptive subscription right shall be performed in terms of the corporate interest and pursuant to the legal requirements, and that the Board of Directors shall issue a report detailing those reasons that justify this in the corporate interest in each specific case, and which shall be made available to the shareholders and communicated at the first General Shareholders’ Meeting held after the increase in capital. Additionally, in compliance with its personal law and Company’s internal regulations, some functions of the Board of Directors are non-delegable and, as such, have to be performed at this level, which are the following: Election of the Chair of the Board of Directors. Appointment of Directors by co-option. Supervision of the effective functioning of any committees that it may have incorporated and of the performance of any delegated bodies or managers it may have designated. Determination of the company’s general policies and strategies. Authorization or waiver of the obligations arising from the Directors duty of loyalty. Its own organization and functioning. Formulation of the annual accounts and its submission to the General Shareholders’ Meeting. Preparation of any type of report required from the board by law, when the underlying transaction to which the report refers cannot be delegated.
EDPR Individual Annual Report 2024 17 Appointment and removal of the delegated directors (“Joint Directors”) of the company, as well as the determination of their contract conditions. Appointment or removal of the members of the Management Team, as well as the determination of their basic contract conditions, including remuneration. Decisions relating to directors’ remuneration, within the statutory framework and, if such is the case, within the remuneration policy approved by the General Shareholders’ Meeting. Calling the General Shareholders’ Meeting and preparing the agenda and proposed resolutions. Policy relating to own shares. Any powers that the General Shareholders’ Meeting has vested to the board of directors, unless the board has explicitly authorized that they may be sub-delegated. Approval of the strategic or business plan, annual management objectives and budget, investment and financing policies, sustainability policies and the dividends policy. Determination of the risk control and management policy, including those related to tax matters, and the supervision of the internal information and control systems. Determination of the company’s corporate governance policy as well as the one applicable to the group of which the company is the parent entity its organization and functioning and, in particular, the approval and amendment of its own regulations. Approval of the financial information that the company must disclose periodically. The definition of the structure of the group of companies of which the company is the parent entity. Approval of all type of investments and transactions that due to their high amount or special nature are considered as strategic or that may imply a financial risk, unless their approval falls under the General Shareholders’ Meeting. For the purposes of this paragraph, the following transactions shall be considered as included: i. The purchase and sale of assets, rights or shareholdings by EDPR, included in the business plan approved by the Board of Directors (“the Business Plan”), whenever their [A] (i) book value, or (ii) market value assessed in terms of equity value, or (iii) the transaction price, or (iv) the initial investment value, is over one hundred and fifty million Euros (150,000,000€) (at present value), or [B] initial investment value consumes the total amount foreseen Business Plan for these type of transactions, whenever their (i) book value, or (ii) its market value assessed in terms of equity value, or (iii) the transaction price, or (iv) the initial investment value, is over seventy-five million Euros (€75,000,000) (at present value). ii. Agreements regarding (i) bank loans and (ii) credit facilities in an amount above two hundred and fifty million Euros (€250,000,000), provided that, as a result of such agreements, EDPR’s overall indebtedness exceeds the amount set forth in the approved annual budget. iii. Total or partial opening or closure of establishments, as well as extensions or reductions of its activity, provided that, according to a reasonable estimate of the executive directors, they result in a change in the turnover or in the assets of the Company of over seventy-five million Euros (€75,000,000). iv. Other operations and relevant transactions, and in particular, those excluded from the scope of the Business Plan whenever their (i) book value or (ii) market value assessed in terms of equity value, or (iii) the transaction price, or (iv) the initial investment value is above seventy- five million Euros (€75,000,000)(at present value). v. Any operations not directly related to the energy sector which amount is above twenty million Euros (€20,000,000). vi. Setting up or terminating strategic partnerships or any other forms of enduring cooperation, in an amount above twenty million Euros (€20,000,000). The approval of the creation or acquisition of shares in special purpose entities or registered in countries or territories considered tax havens, as well as any other transaction or operation of a similar nature that, due to its complexity, may undermine the transparency of the company and its group. The approval of Related Party Transactions, unless: i. Its approval corresponds to the General Shareholders’ Meeting; or ii. transactions (i) between companies of the same group and that are performed in the ordinary management of the company and under market conditions, or (ii) closed under standardized conditions and wholesale applied to a high number of clients, and at prices or tariffs generally established by the supplier of the good or service, the amount of which does not exceed the 0.5% of the net annual company turnover, which will be approved by the Audit, Control and Related Party Transactions Committee.
EDPR Individual Annual Report 2024 18 The determination of the company’s tax strategy. The supervision of the elaboration and submission process of the financial information and the management report, that will include, as the case may be, the required non-financial information and the submission of the recommendations or proposals presented to the Board aimed to protect its integrity. Should be noted that in case of duly justified urgency situations, or when considered convenient in an interim period between meetings of the Board of Directors, the decisions related to the reserved matters referred above may be adopted by the delegated bodies or individuals and will be ratified at the first Board meeting to be held after the adoption of the decision. Notwithstanding the above, as from October 2022, a fast-track procedure has been established by the Board of Directors of EDPR for certain matters that require urgent approval. This procedure is extensively ruled under the regulations of the Board of Directors. As per the governance model adopted, EDPR has to comply with the regulation established under the Spanish Companies Act, which among others, as mentioned above, establishes that the approvals of the strategic lines and policies of the company are a reserved matters of the Board of Directors that cannot be delegated, and that shall be necessarily approved at this level. Therefore, in compliance with recommendation V.1 and its personal Law (Spanish one), in case of proposal of a new Business Plan, in EDPR such will be first assessed by the Audit, Control and Related Party Transactions Committee (as per its Governance Model does not have a Supervisory Body), and being the final proposal approved at the Board of Directors level. 10. Significant business relationships between the holders of qualifying holdings and the Company Information on any significant business relationships between the holders of qualifying holdings and the Company is described on topic 90 of this Chapter of the Annual Report. B. Corporate Boards and Committees I. General Shareholders’ Meeting On March 31 st , 2022 the General Shareholders’ Meeting resolved to approve the Regulations of the General Shareholders' Meeting of EDPR which establishes the principles of its organization and operation, and that contain the rules governing the convening, preparation, information, attendance and development of the General Shareholders’ Meeting, as well as the exercise of the corresponding rights of the shareholders when it is convened and held, all in accordance with the applicable regulations in force. These regulations are available at the website of the Company www.edpr.com. Any amendment to these Regulations shall require the resolution to be adopted by the General Shareholders’ Meeting but not with qualified quorum. A) Composition of the Board of the General Shareholders’ Meeting 11. Board of the General Shareholders’ Meeting Since 2021, EDPR adopted the general practice followed under the personal law of the Company (Spanish one) that allows the General Shareholders’ Meeting to be chaired by the Chair of the Board of Directors, and in the absence thereof, to the Vice-Chair (in the absence of both of them, it will be assigned to the oldest director). As such, the Chair of the Board of Directors - or whoever acting as substitute - together with the remaining Members of the Board, shall constitute the Board of the General Shareholders’ Meeting; and its Secretary will be the Secretary of the Board of Directors. Therefore, in 2024 the role was performed by António Gomes Mota, who was re-elected as member of the Board for a three-year (3) term by the General Shareholders’ Meeting held in April 4 th , 2024, and for the position of Chair of the Board of Directors on its meeting subsequently held on the same date—and the role of the Secretary of the General Shareholders’ Meeting corresponds to the Secretary of the Board of Directors, María González Rodríguez, who was appointed for that position on November 2 nd , 2021. It should also be highlighted that in accordance with article 180 of the Spanish Companies’ Law, all the Board of Directors’ Members are obliged to attend the General Shareholders’ Meetings.
EDPR Individual Annual Report 2024 19 The Chair of the General Shareholders’ Meeting of EDPR has at his disposal the necessary human and logistical resources required for the performance of his duties. Therefore, in addition to the resources provided by the Company’s General Secretary, in 2024 the Company hired a specialized entity to give support to the meeting and to collect, process and count the votes submitted by the shareholders on the Ordinary General Shareholders’ Meetings. B) Exercising the right to vote 12. Voting rights restrictions Each EDPR share entitles its holder to one vote. Neither EDPR’s Articles of Association, nor General Shareholders' Meeting Regulations establish any restriction regarding voting rights. Additionally, the Articles of Association do not include any provisions for double loyalty voting. 13. Voting rights Neither EDPR’s Articles of Association, nor General Shareholders' Meeting Regulations have any reference to a maximum percentage of voting rights that may be exercised by a single shareholder or by shareholders that are in any relationship. All shareholders, regardless the number of shares owned, may attend to the General Shareholders’ Meeting and request the information or explanations that they consider relevant regarding the matters included in the agenda of the convened meeting, and are entitled, as shareholders of the Company, to take part in its deliberations and to participate in its voting process. The logistics for the exercise of the voting rights, including the procedure and requirements for the submission through mail and electronic communication of voting forms, and the cut-off date for the shareholders to be able to exercise such rights, are set forth in the Regulations of the General Shareholders’ Meeting. Any shareholder may be represented at the General Shareholders’ Meeting by a third party by means of a revocable power of attorney (even if such representative is not a shareholder). The Board of Directors may require shareholders’ power of attorney to be in the Company’s possession at least two (2) days in advance, indicating the name of the representative. These powers of attorney shall be granted specifically for each General Shareholders’ Meeting and can be evidenced in writing or by remote means of communication such as email or post. According to the applicable law and the Company’s Articles of Association, the notice of EDPR’s General Shareholders’ Meetings is published in the Official Gazette of the Commercial Registry and on the Company’s website at least thirty (30) days prior to the meeting date. Likewise, the Notice of the General Shareholders’ Meeting is published at Interbolsa Platform and on the website of the Comissão do Mercado de Valores Mobiliários (“CMVM”) – at www.cmvm.pt - and of the Comisión Nacional del Mercado de Valores (“CNMV”) – at www.cnmv.es. Simultaneously with the publication of the meeting Notice, the supporting documentation in relation to the General Shareholders’ Meeting is published on the CMVM website. Likewise, as soon as the notice of the meeting is formally published, the following information and documentation related to the General Shareholders’ Meeting is made available at the Company’s website (www.edpr.com): The notice of the General Shareholders’ Meeting. The total number of shares and voting rights at the date of the Meeting notice. The template of the letter of representation and the template of the ballot to be sent by mail, and also, the links to the electronic platform that the Company provides for the voting on the topics included in the agenda. The full texts of the proposed resolutions (included when received if such were the case, those proposed by shareholders) and related supporting documentation, that will be submitted to the General Shareholders’ Meeting for approval. The consolidated texts in force (Articles of Association and the other applicable regulations). The consolidated texts in force (Articles of Association and the other applicable regulations). In 2024, the Company included the English and Portuguese versions of the information and documents related to the General Shareholders’ Meetings on its website (www.edpr.com) with the notice of the meetings being the Spanish version of the documents the one that prevailed. Shareholders may vote on the topics included on the General Shareholders’ Meeting agenda in person (including by means of the corresponding representative) at the meeting, by ordinary mail, or by electronic communication (in this latest case, through a telematic vote platform made available at the Company’s website or sending the related filled and signed templates by email), and in any case providing the documentation indicated in the General Shareholders’ Meeting Regulations. Pursuant to the terms of article 15 of the Articles of Association and Article 24.7 of the General Shareholders’ Meeting Regulations, both electronic and mail-in votes must be received by the Company before midnight (24.00 hours) of the day before the scheduled meeting date of first call. Remote votes can be revoked subsequently by the same means used to cast them, always within the
EDPR Individual Annual Report 2024 20 deadlines established for that purpose, or by personal attendance to the General Shareholders’ Meeting of the shareholder who cast the vote to his/her representative. In addition to the above-mentioned means, and pursuant IPCG recommendation III.4, the EDPR General Shareholder’s Meeting held on April 4 th , 2024 offered to the shareholders the possibility of attending the Meeting by telematic means in accordance with article 15.6 of the Articles of Association and articles 11.3.e) and 16.5 of the General Shareholders’ Meeting Regulations. 14. Decisions that can only be adopted by a qualified quorum According to EDPR’s Articles of Association and the General Shareholders’ Meeting Regulations, and as established in the applicable law, both ordinary and extraordinary General Shareholders’ Meetings are validly constituted when first called if the shareholders, either present or represented, jointly reach at least twenty-five percent (25%) of the subscribed voting capital. On second call, the General Shareholders’ Meeting will be validly constituted regardless of the amount of the capital present or represented. Notwithstanding the above percentages, to validly approve the issuance of bonds, the increase or reduction of capital, the transformation, global assignment of assets and liabilities, merger or spin- off of the Company, the transfer of the Registered Office abroad, the elimination or limitation of pre- emptive rights of new shares and in general, any necessary amendment to the Articles of Association, in the Ordinary or Extraordinary Shareholders’ Meeting, it is required that on first call, the Shareholders, either present or represented, reach at least fifty percent (50%) of the subscribed voting capital and, on second call, at least twenty-five percent (25%) of the subscribed voting capital. In relation to the quorum required to validly approve these matters, in accordance with the Law, the Articles of Association and the General Shareholders’ Meeting Regulations, when the shareholders attending represent more than fifty percent (50%) of the subscribed voting capital, the above mentioned resolutions will be validly adopted by absolute majority, and in the case the shareholders attending represent between the twenty-five percent (25%) and the fifty percent (50%) – but without reaching it - the favourable vote of the two-thirds (2/3) of the present or represented capital in the General Shareholders’ Meeting will be required to approve these resolutions. EDPR has not established any mechanism that may intend to cause mismatching between the rights to receive dividends or the subscription of new securities and the voting right of each common share and has not adopted mechanisms that hinder the passing of resolutions by shareholders, including fixing a quorum for resolutions greater than that provided by the law. II. Management and supervision A) Composition 15. Corporate Governance model EDPR is a Spanish Company listed in a regulated stock exchange in Lisbon, Portugal. The corporate organization of EDPR is subject to its personal law and to the extent possible, to the recommendations contained in the Corporate Governance Code of the Instituto Português de Corporate Governance (“IPCG”), resulted as of the Protocol signed on October 13 th , 2017, between the Comissão do Mercado de Valores Mobiliários (“CMVM” – Portuguese Securities Market Commission) and the IPCG, which was last reviewed in 2023. This governance code is available at the IPCG website (https://cam.cgov.pt/). As such, the Company intends to comply with both legal systems but always taking into account that its personal law is the Spanish one, and that in case of discrepancy, the aim is to adopt the law that entails more protectionism for its shareholders. The governance structure of EDPR is the one applicable under its personal law, that comprises a General Shareholders’ Meeting and a Board of Directors that represents and manages the Company. Additionally, this model seeks to correspond it to the so-called “Anglo-Saxon” model set forth in the Portuguese Commercial Companies Code, in which the management body is a Board of Directors, and the supervision and control duties are of the responsibility of an Audit, Control and Related Party Transactions Committee. The organization and functioning of EDPR corporate governance model aims to achieve the highest standards of corporate governance, business conduct and ethics referenced on the best national and international practices. In line with the governance model above referred, and as detailed throughout sections 15 to 29 of this Chapter and contemplated in the law and Articles of Association of the Company, as of December 31 st , 2024, EDPR does not have a Supervisory Board, but its Board of Directors has set up three Delegated Committees entirely composed by Independent Members of the Board of Directors: i. the Audit, Control and Related-Party Transactions Committee, ii. the Appointments and Remunerations Committee and iii. the Environmental, Social and Corporate Governance Committee.
EDPR Individual Annual Report 2024 21 This structure and its functioning, enables a fluent workflow between all levels of the governance model, as: i. each of the Delegated Committees shall report the decisions taken to the Board of Directors (drafting the minutes of each of the meetings and also providing whatever further clarification is required by the Board), and ii. as the committees members are also Members of the Board, all of them will also receive the complete information at Board of Directors level (as convening of the meetings, supporting documents and related minutes) in order to take the corresponding decisions; and all in all, thus ensuring in time and manner the access to all the information to the whole Board of Directors in order to appraise the performance, current situation and perspectives for the further development of the Company. The Secretary of the Board of Directors constitutes the focal point in charge of the centralization of the reception and management of all the information and documents to be provided to the different Governing Bodies. This information is prepared by the different departments of EDPR, with the support, when necessary, of external experts, and always managed in a strictly confidential basis. Additionally, the corresponding duties and functioning procedures for the Governing Bodies (including but without limitation, the performance of their functions, their Chairmanship, periodicity of meetings, their functioning and the duties of their Members) have been defined at the Articles of Association, the General Shareholders’ Meeting Regulations, and Board of Directors and Delegated Committees Regulations (which are published at the website of the Company www.edpr.com), with the aim of ensuring the adequacy in terms of time and manner of the elaboration, management and access to the information in order to proceed at each level with the corresponding acknowledgements and decisions. In line with the above, the Secretary of the Board of Directors sends the notices and supporting documents of the topics to be discussed in each meeting of the Board and of each of its committees, to their proper discussion during the meeting. Besides the above, the Secretary of the Board of Directors also provides necessary legal advice to the Governing Bodies. Finally, the minutes of all meetings of the Board of Directors and Delegated Committees are drawn and also circulated by the General Secretary. The governance model of EDPR was designed to ensure the transparent and meticulous separation of duties, management, and the specialization of supervision, through the following governing bodies: General Shareholders’ Meeting Board of Directors Audit, Control and Related Party Transactions Committee Appointments and Remunerations Committee Environmental, Social and Corporate Governance Committee The experience gained operating the Company through this structure indicates that the governance model approved by EDPR shareholders, and adopted in EDPR, is the most appropriate in line with the corporate organization of its activity, especially because it affords transparency and a healthy balance between the management and the supervisory functions. 16. Rules for the nomination and replacement of directors According to Article 29(5) of the Company’s Articles of Association, the Appointments and Remunerations Committee is empowered by the Board of Directors to propose, advise, and inform the Board regarding the appointments (including by co-optation), re-elections, removals and remuneration of the Board Members, as well as the composition of the committees of the Board. This committee also advises on the appointment, remuneration and dismissal of top management officers. As also referred in the Company Articles of Association (Article 21) the term of office of the Board Members shall be of three (3) years and may be re-elected once or more times for equal periods. The appointment proposals shall be approved by majority. Following the best Corporate Governance practices, the Appointments and Remunerations Committee had since 2023 identified and predefined the criteria applicable in the selection of the new members of its Governing Bodies. The market trends, the Recommendation II.2.1. and the specific needs of EDPR were taken into account by profiling a blueprint of the professional competences of the Members, in order to ensure the suitability of the roles, the contribution of the new profiles to a better performance, and the aim of
EDPR Individual Annual Report 2024 22 ensuring a balanced composition in the bodies of the Company. Said requirements were the following: Individual attributes: education, competence, integrity, availability, and experience that were particularized into: Core industry, Strategy & Business Development, Financial Acumen, Accounting, Auditing and Control, International Experience, M&A and Capital Markets, Legal, Governance, Environmental and Sustainability, Health and Safety, People Management, IT/Cybersecurity, Digital Transformation, Technology, Procurement, Operations, Communications and Public Affairs, Regulation, amongst others. Diversity: to be considered as a wide criteria, analysed in accordance with the nature and complexity of the businesses developed, as well as according to the social and environmental context from time to time, and that will include, among others, gender, age and culture or geographical origin. It was expressly stated that this list should not be considered as an exhaustive nor limiting reference, and that in any case, depending on the needs and competences required, other criteria may be taken into account. Notwithstanding the above, and in order to improve and create additional awareness of the selection process and criteria, at the meeting held on October 30 th , 2024, the Nomination and Remuneration Committee approved to propose for approval to the Board of Directors (and expects it to be formally approved by the Board in early 2025) a formal selection policy for the positions to the Board of Directors and to the Management Team. The policy underlines the Company's commitment to transparency and to adopt the best corporate governance practices. The policy also assured the integration of a range of skills, professional experiences, diversity of knowledges, gender and culture, in accordance with the specificities of the companies’ businesses. The selection process shall value the following criteria and competences: Criteria: 1) Promotion of equality of rights and opportunities in a context of diversity; 1) Enhancement of diversity, notably in matters of age, gender, geographical origin, skills, competences, qualifications and experience; 1) Promotion of the increase of the numbers of the members of the under- represented gender; 1) Prevention of potential conflicts of interest. Competences: 1) Technical-professional competences suitable for the function; 1) Integrity, ethics and professional and personal values; 1) Sufficient knowledge of the legal, regulatory and statutory rules applicable to its functions and to the Company; 1) Sufficient availability to comply with the respective legal and statutory functions; 1) Fulfilment of the independence requisites required by law and Articles of Association; 1) Commitment with the provisions set forth in Codes, and policies and Company's internal regulations; 1) Commitment towards the compliance with the best practices in corporate governance; 1) Skills and experience in companies’ management, risk management and supervision suitable for the function; 1) Industry Knowledge of the and experience in the sector. Beyond the fulfilment of the above mentioned criteria and skills, the members to be appointed for the Board of Directors shall be individuals of recognised national and/or international prestige, with adequate professional knowledge and experience for the exercise of the respective functions. Based on the above criteria, after the previous advice of the Appointments and Remunerations Committee, the Board of Directors submits the related proposals to the General Shareholders’ Meeting (including for sake of clarity, the curriculum vitae of the candidates, and the justifying report, which shall be publicly disclosed with the other supporting documents of the meeting in the terms referred in section 13 above). For more information about the composition of the Board of Directors please see chapter 6. Sustainability Statement of the Annual Report at ESRS 2-Gov_1 and Annex I of this Chapter, which includes the curricular details of its members. Additionally, in case of a vacancy, pursuant to the Articles of Association and the Spanish Companies Law, the Board of Directors may co-opt a new Board Member, who will occupy the
EDPR Individual Annual Report 2024 23 position until the next General Shareholders’ Meeting, to which a proposal will be submitted for the ratification of such appointment by co-option. Pursuant to the Spanish Companies Law, the co-option of Directors must be approved by absolute majority of the Directors at the Board meeting. Finally, pursuant to Article 23 of the Articles of Association and article 243 of the Spanish Companies Act, shareholders may group their shares until constituting an amount of capital equal or higher than the result of dividing the company’s capital by the number of Members of the Board, to be entitled to appoint a number of Directors equal to the result of the fraction using only whole amounts. Those shareholders making use of this power, cannot intervene in the nomination of the other Members of the Board of Directors. 17. Composition of the Board of Directors Pursuant to Article 20 of the Company’s Articles of Association, the Board of Directors shall consist of no less than five (5) and no more than seventeen (17) Directors. Taking into account the size of EDPR and the complexity of the risks intrinsic to its activity, following the proposal of the Appointments and Remunerations Committee, the Board of Directors of EDPR submitted to the Annual General Shareholders Meeting held on April 4 th , 2024, the proposal to adjust the number of Directors of the Company to a total of nine (9) members. Out of the 9 members, 7 are non-executive, and the Chair is independent. The presence of independent Directors is key for EDPR, representing 67% of the composition of the Board. As also referred in the Company Articles of Association (Article 21) the term of office of the Board Members shall be of three (3) years and may be re-elected once or more times for equal periods. On February 27 th , 2024, the Board acknowledged the resignation of Vera Pinto Pereira, Ana Paula Marques and Acácio Piloto to their position as Directors (with effects April 4 th , 2024). The General Shareholders’ Meeting held on April 4th, 2024, appointed Ana Paula Serra as Independent Director for the statutory term of three (3) years. On April 15 th , 2024, the Board of Directors acknowledge the resignation of Cynthia Kay McCall to her position as Director (with effects May 7 th , 2024) and was replaced by Laurie Fitch, as an independent member, following the proposal submitted by the Appointment and Remunerations Committee and the approval of the co-option by the Board of Directors. On July 4 th , 2024, the Board acknowledged the resignation of Allan Jack Katz to his position as Director (with effects July 25 th , 2024) and was replaced by Gioia Ghezzi, as an independent member, following the proposal submitted by the Appointment and Remunerations Committee and the approval of the co-option by the Board of Director. These two appointments will be proposed for ratification at the next General Shareholders’ Meeting. Therefore, as of December 31 st , 2024, the Board of Directors was composed by the following Directors: MEMBER POSITION FIRST APPOINTMENT RE- ELECTION END OF TERM ANTÓNIO GOMES MOTA Independent Chair 12/04/2021 04/04/2024 04/04/2027 Miguel Stilwell d’Andrade CEO & Executive Vice- Chair 19/02/2021 04/04/2024 04/04/2027 Rui Teixeira CFO and Executive Director 29/10/2019 04/04/2024 04/04/2027 Manuel Menéndez Director 04/06/2008 04/04/2024 04/04/2027 Rosa García García Director 12/04/2021 04/04/2024 04/04/2027 José Félix Morgado Director 12/04/2021 04/04/2024 04/04/2027 Laurie Fitch Director 08/05/2024 - 04/04/2027 Ana Paula Serra Director 04/04/2024 - 04/04/2027 Gioia Ghezzi Director 25/07/2024 - 04/04/2027 Likewise, since November 2 nd , 2021, the Secretary non-member of the Board of Directors is María González Rodríguez. 18. Executive, Non-Executive and Independent Members of the Board The independence of the Directors is evaluated according to the Company’s personal law, and annually confirmed by each of the corresponding Directors through the signature of an independence declaration. Likewise, EDPR Board of Directors Regulations, and Article 20(2) of its Articles of Association, defines independent Directors as those who are able to perform their duties without being limited by relations with the Company, its significant Shareholders, or its management officers and comply with the other legal requirements.
EDPR Individual Annual Report 2024 24 In order to comply with Recommendation IV.2.5 (cooling-off period) and explain Recommendation IV.2.4. (Independence requirements) of the IPCG, the Company provides an explanation of the considerations used to categorize Independent Directors. As the independence of directors is regulated by law in Spain, the Company is required to adhere strictly to its personal law. While the alignment between Spanish law and the IPCG recommendation is highly similar, it is not fully comprehensive. Therefore, the Company follows the ”comply-or- explain” principle with respect to Recommendation IV.2.4. In this regard, the following is a reproduction of Article 524 duodecies 4 of the Spanish Corporate Law, which outlines the criteria for the classification of independent directors: [..] 4. Independent Directors are those who, appointed based on their personal and professional qualities, can perform their duties without being influenced by relationships with the company or its group, significant shareholders, or executives. In no case can those who are in any of the following situations be considered independent Directors: a) Those who have been employees or executive Directors of group companies, unless 3 or 5 years, respectively, have elapsed since the end of that relationship. b) Those who receive from the company or its group any amount or benefit for a concept other than Director's remuneration, unless it is not significant for the Director. For the purposes of this criteria, dividends or pension supplements received by the Director due to their previous professional or employment relationship will not be considered, provided that such supplements are unconditional and, therefore, the company that pays them cannot suspend, modify, or revoke their accrual without a breach of its obligations. c) Those who are or have been partners of the External Auditor or responsible for the audit report during the last 3 years, whether it is the audit of the listed company or any other company in its group. d) Those who are executive-Directors or senior executives of another company in which any executive Director or senior executive of the company is an external director. e) Those who maintain, or have maintained during the last year, a significant business relationship with the company or any company in its group, either on their own behalf or as a significant shareholder, Director, or senior executive of an entity that maintains or has maintained such a relationship. Business relationships will be considered those of supplier of goods or services, including financial ones, and advisor or consultant. f) Those who are significant shareholders, executive Directors, or senior executives of an entity that has received donations from the company or its group during the last 3 years. Those who are mere trustees of a foundation that receives donations will not be included in this letter. g) Those who are spouses, persons linked by an analogous affective relationship, or relatives up to the second degree of an executive Director or senior executive of the company. h) Those who have not been proposed, either for their appointment or renewal, by the appointments committee. i) Those who have been Directors for a continuous period of more than 12 years. j) Those who are in any of the situations referred to in letters a), e), f), or g) above with respect to a significant shareholder or representative on the board. In the case of the relationship of kinship referred to in letter g), the limitation will apply not only with respect to the shareholder but also to their dominical Directors in the participating company. Corporate Governance recommendations of the IPCG Code state that the number of non-executive directors should be higher than the number of executive directors, and that at least one third over the total members shall be non-executive members that also comply with the independence criteria. In this sense, and provided that the independence criteria applicable to EDPR Directors are the ones established under its personal law, from a total of nine (9) positions that composed of EDPR’s Board of Directors as of December 31 st , 2024, seven (7) are non-executive, and the Chair is an independent. In accordance with the law and Articles of Association, it has been established that Non-Executive Directors can only be represented in the Board meetings by another Non-Executive Director. As such, it has been concluded that the composition of the Board and its Delegated Committees is suitable for the size of the company and the complexity of the risks intrinsic to its activity mainly considering that enables a separation of duties, management and specialization of supervision at the same time that the non-executive and independent directors take part in all the decisions also at the Board of Directors level. Should be noted to this extent that the Board of Directors is composed by a majority of non-executive members, with a high percentage of independents and that the Audit, Control and Related Party Transactions Committee, the Appointments and Remunerations Committee and the Environmental, Social and Corporate Governance Committee are entirely composed by non- executive and independent Members. Likewise, the executive line of the Board is centralized in two directors, who are supported in the daily activity of the Company by the Members of a Management Team.
EDPR Individual Annual Report 2024 25 Spanish law, Regulations of the Board of Directors and Company Articles of Association regulate the criteria for the incompatibilities with the position of Director. Specifically, Article 23 of the Articles of Association, establish that the following should not be Directors: Those who are directors of or are associated with any competitor of EDPR or have family relations with them. In this respect, a Company shall be considered as a competitor of EDPR whenever it is engaged, if it is directly or indirectly involved in the production, storage, transport, distribution, marketing or supply of electricity or fuel gas or also if has interests opposed to those of EDPR, or to the ones of any competitor or any of the companies in its group, and the Board Members, employees, lawyers, consultants, or representatives of any of them. Under no circumstances shall companies belonging to the same group as EDPR, including abroad, be considered competitors. Those who are in any other situation of incompatibility or prohibition under the law or EDPR’s Articles of Association. Under Spanish law, among others, are not allowed to be Directors those who are underage – under eighteen (18) years - and were not emancipated-, disqualified, competitors, convicted of certain offences, or that hold certain management positions. The prevention and avoidance of the conflict of interest in the performance of the duties of the Directors of EDPR is regulated in line with the terms contained in article 229 of the Spanish Companies Law and implemented in article 28(3) of the Board of Directors Regulations, which is also applicable to the committees under article 12 of their respective regulations. This article states that in case any direct or indirect conflict of interest arose, it shall be communicated to the Board of Directors, being the Director involved obliged to abstain from intervening in the corresponding operation. Additionally, all the Board Members (and hence those of its Delegated Committees, as they are entirely composed by Members of the Board) shall annually sign an statement declaring their compliance with the terms of the requirements stated under article 229 of the Spanish Companies Law, and their commitment to notify any variation in the information declared under the statement as soon as it may occur, in order to fully comply with the loyalty duty and avoid any interference or irregularity in any decision-making process. The following table includes the executive, non-executive, and independent members of the Board of Directors as of December 31 st , 2024: BOARD MEMBER ANTÓNIO GOMES MOTA Chair (non-Executive & independent) Miguel Stilwell d’Andrade CEO and Executive Vice-Chair Rui Teixeira CFO and Executive Director Manuel Menéndez Non-Executive Director Rosa García García Non-Executive and independent Director José Félix Morgado Non-Executive and independent Director Laurie Fitch Non-Executive and independent Director Ana Paula Serra Non-Executive and independent Director Gioia Ghezzi Non-Executive and independent Director 19. Professional qualifications and biographies of the Members of the Board of Directors The skills and main positions held by the Members of the Board of Directors, as well as those that they currently hold in Group and non-Group companies and other relevant curricular information details are available in the Annex I of this Chapter. 20. Family, professional and business relationships of the Members of the Board of Directors with qualifying shareholders Qualifying Shareholders in EDPR are subject to the Spanish Law, which regulates the criteria and thresholds of the shareholders’ holdings. As of December 31 st , 2024, and as far as the Company was informed, there are no family or business relationships of Members of the Board of Directors with qualifying shareholders but only professional relationships due to the fact that some of the Members of EDPR’s Board of Directors are currently Members of the Board of Directors in other companies belonging to the same group as EDP Renováveis S.A., which are the following: Miguel Stilwell d’ Andrade, Rui Teixeira, and Manuel Menéndez Menéndez.
EDPR Individual Annual Report 2024 26 21. Corporate bodies and management structure As exposed in section 15 above, the governance model of EDPR was designed to ensure the transparent and meticulous separation of duties and the specialization of supervision through the following governing bodies and management structure: General Shareholders’ Meeting: which is the body in which the shareholders participate. Represents the Company with the full authority corresponding to its legal personality and has the power to deliberate, vote and adopt decisions, particularly on matters that the law and Articles of Association reserve for its decision and that must be submitted for its approval. Board of Directors: that represents and administrates the Company under the broadest powers of management, supervision and governance with no limitations other than the responsibilities expressly and exclusively granted to the jurisdiction of the General Shareholders’ Meeting in the Company’s Articles of Association, in the General Shareholders’ Regulations or in the applicable law. Executive Directors: EDPR has two Executive Directors who are also Joint Directors, Miguel Stilwell de Andrade (CEO) and Rui Teixeira (CFO), to whom the Board agreed to delegate all the competences that can be delegated as per established under the Company Articles of Association and the applicable law. Delegated Committees: as regulated by the applicable Law and pursuant to the best corporate governance recommendations, EDPR has set up three additional specialized internal committees: The Audit, Control and Related Party Transactions Committee, whose main duties are the supervision of the financial and sustainability information and internal control, risk management and Compliance systems. It also assumes the functions related to the analysis and, when applicable, the approval of the Related Party Transactions of the Company. The Appointments and Remunerations Committee, whose main duties are the assistance and report to the Board of Directors in the appointments, re-elections, dismissals, evaluation, and remunerations of Directors and Management Team Members. The Environmental, Social and Corporate Governance Committee, whose main duties are the assistance and report to the Board of Directors in the alignment with the market trends and the company needs regarding Environmental, Social and Corporate Governance matters, with the aim of also providing the investors with more transparent and exhaustive information regarding matters related to Corporate Governance and Sustainability. Management Team: Following the last adjustments made to the operative model in 2021, in February 2024 the Board of Directors agreed to adjust the Management Team in order to keep
EDPR Individual Annual Report 2024 27 evolving, leveraging scale and synergies between regions and functions, based on transversal capabilities, at group level. The new model fully respect the principles related to EDPR being a listed company: Taking into consideration minorities’ interests; Maintaining a compliant Corporate Governance structure and decision making process; Complying with the Framework Agreement between EDP and EDPR, which includes ; (i) EDPR exclusivity in renewables, and (ii) arm’s length related party transactions. B) Functioning 22. Board of Directors regulations EDPR’s Board of Directors Regulations were last amended on December 12 th , 2022, and are available at Company’s website (www.edpr.com), and at Company’s headquarters at Plaza del Fresno, 2, Oviedo, Spain. 23. Number of meetings held by the Board of Directors and attendance report According to the Law and its Articles of Association, EDPR’s Board of Directors meetings take place at least once every quarter. During the year ended on December 31 st , 2024, the Board of Directors held eight (8) meetings. The notices and supporting documents of the topics to be discussed in each meeting are sent to the Board Members in advance to their proper discussion during the meeting. Additionally, the minutes of all meetings are drawn and also circulated. The following table expresses the attendance percentage of the participation of the Directors to the meetings held during 2024: BOARD MEMBER POSITION ATTENDANCE * ANTÓNIO GOMES MOTA Chair (Non-Executive and Independent) 100% Miguel Stilwell d’Andrade CEO and Executive Vice-Chair 100% Rui Teixeira CFO and Executive Director 100% Vera Pinto Pereira * Non-Executive Director 100% BOARD MEMBER POSITION ATTENDANCE * Ana Paula Marques * Non-Executive Director 100% Manuel Menéndez Non-Executive Director 100% Acácio Piloto * Non-Executive Director and independent Director 100% Allan J. Katz * Non-Executive Director and independent Director 80% Rosa García García Non-Executive Director and independent Director 100% José Félix Morgado Non-Executive Director and independent Director 100% Cynthia Kay Mc Call * Non-Executive Director and independent Director 100% Ana Paula Serra ** Non-Executive Director and independent Director 100% Laurie Fitch ** Non-Executive Director and independent Director 66.67% Gioia Ghezzi ** Non-Executive Director and independent Director 50% *The percentage reflects the meetings attended by the Members of the Board during 2024, provided that Vera Pinto Pereira, Ana Paula Marques and Acácio Piloto resigned on February 27 th , 2024 (with effects April 4 th , 2024), Cythia Kay McCall resigned on April 15 th , 2024 (with effects May 7 th , 2024) and Allan J. Katz resigned on July 4 th , 2024 (with effects July 25 th , 2024) thus the percentage shown in the table reflects the attendance calculated over the meetings held until such date. ** The percentage of attendance in case of Ana Paula Serra, Laurie Fich and Gioia Ghezzi are computed over the meetings that were held after their appointment. Likewise, on January 26 th , 2024, it was held a meeting of non-executive Directors in order to analyse and assess the organization, composition and functioning of the Board of Directors and its Committees. With the aim of improving the quality of corporate governance, focusing on supervision and decision-making, one off-site meeting was held in Oporto (Portugal) in 2024. The meeting was held in a different environment from the usual one, encouraging dialogue and creating a dynamic of interaction and cohesion among Board Members and with the Management Team Members, with the aim of improving the climate for future debates. The meeting focused on the medium-term business model, with particular involvement of the teams from the geographical areas where the meetings were held.
EDPR Individual Annual Report 2024 28 The Company has reported that it did not use artificial intelligence as a decision-making tool for corporate bodies in 2024, in accordance with IPCG Recommendation VII.9. The Company’s approach is to be cautious about the potential risk associated with the implementation of automated decision-making systems. However, EDPR recognizes the importance of efficient management of Board meetings and, to this end, has adopted initiatives to support the Board of Directors meetings. These tools are not directly related to automated artificial intelligence, but rather to facilitate meeting management, decision support in a data-driven culture and enhance operational efficiency. The Company remains committed to closely monitoring the evolution of the artificial intelligence market and emerging trends in the use of AI in decision- making. EDPR is committed to maintaining a proactive stance by closely monitoring technological innovations and developments in the field. This is achieved through a multi-disciplinary team of technology, business, ethics, legal and compliance experts. 24. Competent body for the performance appraisal of Executive Directors The key performance indicators for the appraisal of the Executive Directors are set in advance and approved by the General Shareholder’s Meeting. Once the corresponding fiscal year is completed, the Appointments and Remunerations Committee performs the first assessment about the compliance with such key performance indicators, and submits its recommendation to the Board of Directors, which evaluates the proposal of this committee and makes the final decision. Should be noted that according to the personal law of EDPR, the definitive assessment of this performance is a non-delegable competence of the Board of Directors. 25. Performance evaluation criteria applicable to Executive Directors The criteria for assessing the Executive Directors’ performance are described on sections 70, 71 and 72 of this Chapter. 26. Availability of the Members of the Board of Directors The availability of the Members of the Board of Directors is one of the individual attributes considered by EDPR in the selection processes, and a reference that is clearly being more observed and acquiring material relevance in the Market. As such, and with the aim of complying with the best governance practices, the Board of Directors resolved at its meeting held in October 25 th , 2022 to rule under its Regulations the performance of EDPR Executive Directors when they have executive functions in entities outside the Group; in accordance to which it has been established that: i. the Executive Members of the Board of Directors may not exercise executive functions in more than two companies outside EDP Group; and ii. the exercise of that functions will be subject to prior assessment of the Appointments and Remunerations Committee and of the approval by the Board of Directors. The Members of Board of Directors of EDPR are fully available for the performance of their duties having no constraints for the execution of this function simultaneously with other positions. The positions held at the same time in other companies within and outside the Group, and other relevant activities undertaken by Members of the Board of Directors throughout the financial year are listed in the Annex I of this Chapter 5 of the Annual Report. C) Committees within the Board of Directors or Supervisory Board and Board Delegates 27. Board of Directors’ Committees As previously exposed, in line with Spanish Law and as specifically foreseen in Article 10 of the Company’s Articles of Association, the Board of Directors is entitled to create delegated bodies. The Board of Directors of EDPR has set up three committees: Audit, Control and Related-Party Transactions Committee Appointments and Remunerations Committee Environmental, Social and Corporate Governance Committee The three Committees are composed exclusively by non-executive and independent Members. 28. Details of the Executive Delegates of the Board On January 19 th , 2021, the Board of Directors agreed to appoint Miguel Stilwell d’Andrade and Rui Teixeira as Joint Executive Directors, delegating in them all the competences that can be delegated as per established under the Company Articles of Association and the applicable law.
EDPR Individual Annual Report 2024 29 First on April 12 th , 2022, and then on April 4 th , 2024, the Board agreed to re-elect both of them as Joint Executive Directors, as well as to again delegate in them all the competences that can be delegated as per established under the Company Articles of Association and the applicable law. The reserved matters of the Board of Directors are identified in section 9 of this Chapter. 29. Committees’ competences Audit, Control and Related Party Transactions Committee Composition Pursuant to Article 28 of the Company’s Articles of Association and Article 9 of its Regulations, the Audit, Control and Related Party Transactions Committee was composed of o less than three (3) and no more than five (5) members. Until April 4 th 2024, the Audit, Control and Related Party Transactions Committee was composed of three (3) non-executive and independent Members, as follows: Acácio Piloto (Chair) Rosa García García José Félix Morgado After April 4 th , 2024 and as of December 31 st , 2024, following the proposal submitted by the Appointments and Remunerations Committee, the composition of the Audit, Control and Related Parties Transactions of EDPR is as follows: José Félix Morgado, who is the Chair Rosa García García Ana Paula Serra The committee Members shall maintain their positions for as long as they are Company Directors. Nevertheless, the Board may decide to discharge members of the committee at any time, and also the members may resign of these positions but still maintaining their seat as Members of the Board of Directors. Additionally, María González Rodríguez is the Secretary of the Audit, Control and Related Party Transactions Committee since November 2 nd , 2021. Competencies Notwithstanding other duties that the Board may assign to this committee, it shall perform supervisory functions of Audit and Control independently from the Board of Directors, as well as, by delegation of the Board of Directors, the supervisory functions of the transactions between Related Parties, as follows: a. Audit and Control functions: Reporting, through the Chairman, at General Shareholders’ Meetings on questions falling under its jurisdiction. Proposing the appointment of the External Auditors and validators (verificadores) of the sustainability information to the Board of Directors for subsequent approval by the General Shareholders’ Meeting, as well as the contractual conditions, scope of the work – specially concerning audit services, “audit related” and “non audit” – annual activity evaluation and revocation or renovation of External Auditor appointments. Supervising the financing and sustainability reporting and the functioning of the internal risk management and control systems, as well as, evaluate those systems and propose the adequate adjustments according to the Company necessities, as well as supervising the suitability of the preparation process and the disclosure of financial and sustainability information by the Board of Directors, including suitable accounting policies, estimates, judgments, relevant disclosure and its consistent application between financial years, in a duly documented and communicated form. Evaluate whether the policies and procedures for sustainability reporting and the metrics established are consistent with applicable standards and best practices in this area, and whether they are being followed and demonstrated to be appropriate to ensure that the company is conducting its activities in a way that effectively contributes to sustainability in its various dimensions.
EDPR Individual Annual Report 2024 30 Supervising internal audits, in particular: i) approving and supervising in coordination with the CEO, the Annual Internal Audit Plan; ii) approving and reviewing the Internal Audit Rule; and iii) supervising in coordination with the CEO and Management Team the implementation of the recommendations issued by Internal Audit. Establish a permanent contact with the External Auditors and the validator (verificador) of sustainability information, to assure the conditions, including the independence, adequate to the services provided by them, acting as the Company speaker for these subjects related to the auditing and verification process and receiving and maintaining information on any other questions regarding accounting or sustainability subjects. Preparing an annual report on its supervisory activities, including any limitations encountered. This report will also address the allocation and impact of green financing derived from sustainability credits. It will also give its opinion on the Management Report, the accounts and the proposals presented by the Board of Directors, as well as its opinion on the reliability of the Sustainability Report. Receive communications about irregularities reported through the whistleblowing channel regarding financial, accounting, internal accounting controls, and auditing matters, which have been reported by Ethics & Compliance. Engaging the services of experts to collaborate with Committee members in the performance of their functions. When engaging the services of such experts and determining their remuneration, the importance of the matters entrusted to them, and the economic situation of the company must be taken into account. Drafting reports at the request of the Board and its Committees. Receive and evaluate potential opinions from employee representatives on sustainability issues. Approving and supervising, in coordination with the Management Team, the Annual Activity Plan of the Corporate Compliance Department. Appreciating and monitoring the recommendations on measures to be taken in situations of significant non-compliance. Supervising compliance with regulations and alignment of business processes with the requirements of the Compliance Management System in order to achieve a sustainable compliance culture throughout the Company. b. Related Party Transactions functions: By delegation of the Board of Directors: ii.i. Analysing and, where appropriate, approving the (i) (a) intragroup transactions or (b) transactions performed between EDPR Group and EDP Group when their amount is below 10% of the total assets at the last annual balance sheet approved by the company, as long as they are in the ordinary management of the company and under market conditions; (ii) transactions executed under contracts with standardized terms that are wholesale applied to a high number of clients under prices or tariffs generally established by the supplier of the goods or services, and which amount does not exceed the 0.,5% of the net annual company turnover and periodically informing the Board of Directors about the transactions approved by this Committee in the exercise of the above referred delegation, stating the fairness and transparency of such transactions, and as the case may be, the compliance with the applicable legal criteria. a. Analysing and informing about any modification of the Framework Agreement signed by EDP and EDPR on May 4 th , 2008. b. Submitting reports to the Board of Directors of the Company regarding the Related Party Transactions – that shall be approved by the Board of Directors of EDPR or by its Shareholder’s Meeting in accordance with the law – and that shall include: (i) the information regarding the nature of the operation and the relation with the Related Party, (ii) the identity of the Related Party, the date and value or amount of the compensation of the transaction, and any other information necessary to appraise if the operation is fair and reasonable for the company and for the non-Related Party shareholders. c. Asking EDP for access to the information needed to perform its duties. Functioning In addition to the Articles of Association and the law, this committee is governed by its regulations (that were last amended on July 25 th , 2024), which are available at the Company’s website (www.edpr.com). The committee shall meet at least once a quarter and additionally whenever its Chair deems it appropriate. The notices and supporting documents of the topics to be discussed in each meeting of this committee are sent to its Members in advance to their proper discussion during the meeting.
EDPR Individual Annual Report 2024 31 Additionally, this committee shall draft minutes of every meeting held and inform the Board of Directors of its decisions at the first Board held after each committee meeting. Decisions shall be adopted by majority and the Chair shall have the casting vote in the event of a tie. 2024 Activity In 2024, the Audit, Control and Related Party Transactions Committee held eight (8) meetings, and the main activities performed were: 1. Audit and Control Activities: Monitor the closure of quarterly accounts, first half-year and year-end accounts. Information about the proposals of application of results for the fiscal year ended on December 31 st , 2023, and the distribution of dividends. Information about the independence of the External Auditor. Assessment of the External Auditor’s work, especially concerning the scope of work in 2024, approval of all “audit related” and “non- audit” services and analysis of External Auditor’s remuneration. Assessment on the policies and remunerations systems of the Company. Supervision of the quality and integrity in the preparation and disclosure of the financial information in accordance with the applicable accounting policies, estimates and judgments. Issuance of an opinion about the individual and consolidated reports (including the Corporate Governance report) and accounts, in a quarterly, half year and yearly basis. Monitorization of Internal Audit Activity, including the supervision of the execution of the Audit Plan for 2024, its Budget and headcount and pre-approval of the draft prepared for the 2025 Internal Audit Plan. Monitorization of the recommendations issued by Internal Audit. Follow-up and supervision of the quality, integrity and efficiency of the treasury management (finance and debt), the Internal Control System, Compliance (including the supervision of the execution of the Activity Plan for 2024 for EDPR and OW and approval of the draft prepared for the 2025 Activity Plan) and Risk Management. Monitorization and evaluation of the risk management performed during 2024, issuing a report including the assessment about Internal Control System and Risk Management. Information about claims received regarding financial irregularities. Information about the contingencies affecting to the Group. Issuance of the report of its activities performed during 2023. Issuance of a self-assessment about its performance and an appraisal of the Internal Audit functions regarding fiscal year 2023. Consideration and review of the Enterprise Risk Management Framework (ERM), taking into account the new reference limits and changes to the taxonomy. Recommendation to the Board of Directors for approval. Following the best Corporate Governance practice, the Committee held a specific and complementary meeting with the External Auditors twice a year to discuss any remark in the process of the elaboration of the Company half year and year end accounts. Propose minor amendments to the Regulation of the Audit, Control, Related Parties Regulations to include supervision of corporate sustainability reporting. Subsequent to Recommendation V.1 a dedicated session took place on March 1 st , 2023 to discuss the monitoring and risk assessment of the 2023-2026 Business Plan before its submission to the Board of Directors. On September 9 th and 10 th , 2024, attended an off-site together with other Audit Committees of the Group's companies. The purpose of the meeting was to discuss best practices for internal audit, risk, compliance, accounting and tax functions, as well as to analyse key challenges regarding these committees' responsibilities. 2. Related Party Transactions Activities: In 2024, the Audit, Control and Related Party Transactions Committee revised, approved and submitted to the Board of Directors the transactions between related parties submitted to its consideration in accordance with its competences and the applicable law.
EDPR Individual Annual Report 2024 32 For further information, please see section 90 which includes a description of the fundamental aspects of the agreements and contracts between related parties. The Audit, Control and Related Party Transactions Committee found no constraints during its control and supervision activities. The information regarding the meetings held by this Committee and the attendance of its related members during 2024 is described in section 35. Appointments and Remunerations Committee Composition Pursuant to Article 29 of the Company’s Articles of Association and Article 9 the Appointments and Remunerations Committee Regulations, this committee shall consist of no less than three (3) and no more than six (6) Members. At least one of its Members must be independent and shall be its Chair. In accordance with its personal law (Spanish law), with recommendation V.3.3. of the Corporate Governance Code of IPCG, and to the extent possible with recommendation V.2.1. of the Corporate Governance Code of IPCG (as considering that in Spain this committee shall be created by the Board and being entirely comprised by Members of its Board of Directors), the Appointments and Remunerations Committee of EDPR is entirely integrated by Non-Executive and Independent Directors. The Appointments and Remunerations Committee consists of three (3) non-executive and independent Directors, as of December 31 st 2024, are the following: António Gomes Mota, who is the Chair. Rosa García García José Félix Morgado None of the committee Members are spouses or up to third degree relatives in direct line of the other members of the Board of Directors. The committee Members shall maintain their positions for as long as they are Company Directors. Nonetheless, the Board may decide to discharge members of the committee at any time and the members may resign said positions while remaining Company Directors. Additionally, María González Rodríguez is the Secretary of the Appointments and Remunerations Committee since November 2 nd , 2021. Competences The Appointments and Remunerations Committee is a permanent body belonging to the Board of Directors with an informative and consultative nature and its recommendations and reports are not binding. The Appointments and Remunerations Committee has no executive functions. The main functions of this committee are to assist and report to the Board of Directors about appointments (including by co-option), re-elections, removals and remuneration of Directors and Members of the Management Team. It also informs the Board of Directors on general remuneration and incentives for Board Members and executive staff. These functions include the following: Defining the standards and principles governing the composition of the Board of Directors and the selection and appointment of its Members. Proposing the appointment and re-election of Directors (including nominations by co-option) for the submission to the General Shareholders’ Meeting by the Board of Directors. Proposing to the Board of Directors the candidates for the different Committees. Proposing to the Board, within the limits established in the Articles of Association, the remuneration system, distribution method, and amounts payable to the Directors. Making proposals to the Board of Directors on the conditions of the contracts signed with Directors. Informing and making proposals to the Board of Directors regarding the appointment and/or removal of executives and the conditions of their contracts and generally defining the hiring and remuneration policies of executive staff. Reviewing and reporting on incentive plans, pension plans, and compensation packages. Any other functions assigned in the Articles of Association or by the Board of Directors.
EDPR Individual Annual Report 2024 33 In accordance with the personal law of EDPR, all the Board Members shall attend to the General Shareholder’s Meeting, and as exposed in section 15 of this Chapter, all the Delegated Committees are composed Directors. As such, the Chair of the Appointments and Remunerations Committee shall attend the Shareholder’s Meetings, and in case its agenda includes any topic related to remuneration of the company’s governing bodies, this Director will be most adequate to answer. In 2024 it was held one General Shareholders’ Meeting on April 4 th , 2024, and the Chair of the Committee, António Gomes Mota attended. Functioning In addition to the Articles of Association, the Appointments and Remunerations Committee is governed by its Regulations (that were last amended on October 25 th , 2022), which are available at the Company’s website (www.edpr.com). The notices and supporting documents of the topics to be discussed in each meeting of this committee are sent to its Members in advance to their proper discussion during the meeting. Additionally, this committee shall draft minutes of every meeting held and inform the Board of Directors of its decisions at the first Board held after each committee meeting. Decisions shall be adopted by majority and the Chair shall have the casting vote in the event of a tie. 2024 Activity In 2024 the Appointments and Remunerations Committee held four (4) meetings, and the main activities performed were: Issued its opinion regarding the performance evaluation for year 2023 of the Board of Directors, the CEO, the CFO and the Management Team Members, as well as of the Delegated Committees. Drafted a report regarding the composition of the Board of Directors and the candidates to became new member submitted by the Board of Directors to the General Shareholders’ Meeting. Reviewed and approved the Remuneration Policy of the Board of Directors, submitted by the Board of Directors to the General Shareholders’ Meeting. Drafted a report submitted to the Board of Directors regarding the designation of the Compliance Officer. Reviewed and approved the Remunerations Report related to 2023, submitted by the Board of Directors to the General Shareholders’ Meeting. Acknowledged the resignation to the position as Board Member, and therefore as member of the ESG Committee, presented by Mrs. Cynthia Kay McCall (with effects May 7 th , 2024). Considering the vacancy the Committee analysed the potential candidates to cover this position, concluding that the most adequate profile would be the candidate Mrs. Laurie Fitch. The Committee ratified the co-optation appointment of Mrs. Fitch as member of the Board of Director and member for the ESG Committee for the period of time for which the previous member Mrs. Cynthia Kay Mc Call, whom she replaces, had been appointed, which is on April 4 th , 2027. Drafted the report of its activities performed during the year 2023. Acknowledged the resignation to the position as Board Member, and therefore as member of the ESG Committee, presented by Mr. Allan Katz (with effects July 25 th , 2024). For the selection process the Committee was supported by Egon Zehnder. Following the analysis, the Committee ratified the co-optation appointment of Mrs. Gioia Gezzi as member of the Board of Director and member for the ESG Committee for the period of time for which the previous member Mr. Allan Katz, whom she replaces, had been appointed, which is on April 4 th , 2027. Review the Regulation of the Ethics Committee, including its new composition, to be submitted to the Board of Director. In order to ensure the CEAM recommendation, it was needed to formalise the criteria for the selection of future members of the top management, i.e. members of the Management Team. In this respect, the Committee proposed a selection policy for the positions to the Board of Directors and to the Management Team to be submitted to the Board of Director, and then, to the General Shareholders’ Meeting. The policy underlines the Company's commitment to transparency and good governance. Review the annual training plan for members of the Board of Directors elected for the term 2024- 2026.
EDPR Individual Annual Report 2024 34 Following recommendation II.2.1 of the IPCG, drafted the competences matrix that will serve as a basis for the evaluation of the effectiveness and efficiency of the board and its committees. Environmental, Social and Corporate Governance Committee Composition Pursuant to Article 9 the Environmental, Social, and Corporate Governance Committee Regulations, this committee shall consist of no less than three (3) and no more than six (6) members, and the majority of them shall be independent. The Chair of the Environmental, Social, and Governance Committee shall be appointed by the Board of Directors amongst the Committee’s members and must necessarily be an independent director. The Environmental, Social, and Corporate Governance Committee consists of five (5) non-executive and independent Directors, that as of December 31 st 2024, are the following: Rosa García García , who is the Chair Antonio Gomes Mota Ana Paula Serra Laurie Fitch Gioia Ghezzi Additionally, María González Rodríguez is the Secretary of the Environmental, Social, and Corporate Governance Committee since its incorporation, on October 25 th , 2022. The committee members shall maintain their positions for as long as they are Company Directors. Nonetheless, the Board may decide to discharge members of the committee at any time and the members may resign said positions while remaining Company Directors. Competences The Environmental, Social, and Governance Committee is a specialized and delegated committee of a merely informative and consultative nature whose recommendations are not binding and that performs no executive functions. This Committee assists and reports to the Board of Directors in the alignment with the market trends and the company needs regarding Environmental, Social, and Governance matters, with the aim of also providing the investors with more transparent and exhaustive information regarding matters related to Corporate Governance and Sustainability. These functions include the following: Oversee the Company's key environmental, social and corporate governance key performance indicators included in the Business Plan and monitor their achievement. Propose to the Board of Directors EDPR’s environmental, social, and corporate governance strategy, plans, policies and objectives and their update. Promote, steer, and oversee the Company’s objectives, action plans and practices in health, safety and occupational risk prevention. Assist in the process of calculating, defining, and synthesizing the concept of double materiality. Review and present to the Board of Directors the Annual Report (EINF) or any other document that may replace it, which should be formulated by the Board of Directors itself. This excludes reports that other committees should prepare in their supervisory and control functions. The Committee shall also monitor the Company's relationship and reporting to investors, indexes and rating agencies on sustainability issues. Monitor and conduct a regular review of the main environmental, social, and corporate governance trends and regulatory developments and best practices in sustainability relevant to the Company’s activity. Analyse the integration of environmental, social, and corporate governance risks and opportunities into the Company´s procedures and its Risk Management System. Update and inform the Board of Directors on the stakeholder relations and dialogue model, in order to understand the needs and expectations of all EDPR's stakeholders (employees, clients, suppliers, subcontractors, and others). Oversee and assess the Company’s corporate image and its reputation with the various stakeholders, namely in terms of the market in general and consumers, investors and supervisory authorities, public and published opinion, monitoring the activity of the Company’s competent services, taking into consideration the implemented strategies, policies, process and procedures implemented, privileging the spirit of service to the Community.
EDPR Individual Annual Report 2024 35 Oversee and assess the suitability of the corporate governance model implemented by the Company and their compliance with internationally accepted models of corporate governance, forwarding any appropriate recommendations in this area to the Board of Directors. Supervise compliance with, and the correct application of, the corporate governance principles and standards in force, promoting and requesting the exchange of information necessary for this purpose. Any other functions assigned to it in the Articles of Association or by the Board of Directors.
EDPR Individual Annual Report 2024 36 Functioning In addition to the Articles of Association, the Environmental, Social and Corporate Governance Committee is governed by its Regulations (that were last amended on July 25 th 2024), which are available at the Company’s website (www.edpr.com). The committee shall meet whenever its Chair deems it appropriate. The notices and supporting documents of the topics to be discussed in each meeting of this committee shall be sent to its members in advance to their proper discussion during the meeting. Additionally, this committee shall draft minutes of every meeting held and inform the Board of Directors of its decisions at the first Board held after each committee meeting. Decisions shall be adopted by majority and the Chair shall have the casting vote in the event of a tie. 2024 Activity In 2024, the Environmental, Social and Governance Committee held four (4) meetings, and the main activities performed were: Review the ESG Business Plan 2023-2026 considering ESG commitments and goals. Review of non-financial information reporting for the 2023 financial year. Analysis of the scores achieved in the Dow Jones Sustainability Benchmark Index and other relevant indexes results (S&P Global, Ecovadis, Bloomberg Gender Equality, ISS ESG, MSCI and Sustainalytics). Review the Annual Activity Report of the Commission for the year 2023. Review the 2023 Corporate Governance Report. Review the S&P Corporate Sustainability Assessment. Review the CSRD Materiality Matrix & Gap Analysis. Review and approve the EDPR Local Stakeholder Engagement Policy and Procedure submitted to the Board of Directors. Review the strategy and initiatives regarding Communities. Discuss the Sustainable Supply Chain. Review and propose the EDPR Social Investment & Volunteering Policies to the Board of Directors. Analysis the feedback of the CEAM regarding the EDPR’s Corporate Governance Report setting the action plan that proposes solutions for those recommendations that have not been accepted or need improvement. Review the status of EDPR Health & Safety. Analysis of the distribution and direction of the vote at the 2024 Annual General Shareholders’ Meeting. In particular, in relation to sustainability, the principles and values that guide EDPR's actions for environmental and social objectives are defined in the public commitments made, in the policies and procedures adopted, and more broadly in EDPR’s Code of Ethics. Under its Environmental Policy, EDPR is committed to environmental protection, mitigating its impacts, managing risks, stimulating R&D + Innovation, and promoting continuous improvement of processes, practices, and performance through a collaborative approach with stakeholders. The management of social aspects is based globally on several corporate policies, the management of which is distributed across various organizational units within EDPR. For details, see EDPR’s health & safety, human and labour rights, local communities, ethics & compliance and stakeholders webpages, and the table of Non-Financial Information Statement (Spanish Law 11/2018) for details on monitoring the implementation of Environmental and Social Policies and where the various points/subpoints of the report are addressed, developing the progress of targets associated with objectives. (This disclosure is in line with Recommendation I.2. of the IPGC). To address sustainability risks, the Company implements a procedure for gathering and analyzing data pertaining to these areas: In 2024, EDPR completed the process of preparing the company for sustainability reporting under Directive (EU) 2022/2464 of the European Parliament and of the Council of 14 December 2022 - Corporate Sustainability Reporting Directive (CSRD). The 2024 Integrated Annual Report reflects the results of the implementation of the Double Materiality Assessment under the CSRD and the fulfilment of the European Sustainability Reporting Standards (ESRS). EDPR has an ongoing project to implement an Internal Control
EDPR Individual Annual Report 2024 37 System on Sustainability Reporting (ICSSR) under the shared management of the Ethics & Compliance and Investor Relations & ESG areas. This project is based on: (i) a scoping model, which includes the calculation, assessment and documentation of the dual materiality exercise, as well as the identification of mandatory disclosures in accordance with the assumptions and obligations arising from current regulations, for EDPR; (ii) a gap analysis of sustainability reporting disclosures, focusing on mandatory information, mapping processes and identifying the risks of disclosures associated with these processes; (iii) the identification and analysis of control gaps; and (iv) the definition of an implementation plan to address the identified gaps. For further information please see Chapter 6 of this Report. III. Supervision A) Supervision 30. Supervisory Board - model adopted EDPR’s governance model, as long as it is compatible with its personal law (Spanish law), corresponds to the so -called “Anglo- Saxon” model set forth in the Portuguese Commercial Companies Code, in which the management body is a Board of Directors, and the supervision and control duties are of the responsibility of an Audit, Control and Related Party Transactions Committee. 31. Composition of the Audit, Control and related Parties Transactions The Audit, Control and Related Parties Transactions is entirely composed by non-executive and independent Directors. Committee members retain their positions for as long as they are Company Directors, as disclosed in section 17. Until April 4 th , 2024, the composition of the Audit, Control and Related Parties Transactions of EDPR was as follows: MEMBER POSITION FIRST APPOINTMENT Acácio Piloto President 27/06/2018 Rosa García García Member 12/04/2021 José Felix Morgado Member 12/04/2021 As of December 31 st , 2024 the composition of the Audit, Control and Related Parties Transactions of EDPR was as follows: MEMBER POSITION FIRST APPOINTMENT José Félix Morgado * President 12/04/2021 Rosa García García * Member 12/04/2021 Ana Paula Serra Member 04/04/2024 *Re-elected on April 4 th , 2024. Additionally, María González Rodríguez is the Secretary of the Audit, Control and Related Party Transactions Committee since November 2 nd , 2021. 32. Independence of the Members of the Audit, Control and Related Party Transactions Committee Information concerning the independence of the members of the Audit, Control and Transactions Party Committee is available on the chart of section 18 of this Chapter. As mentioned therein, the independence of the members of the Board of Directors and of its committees is evaluated according to the Company’s personal law, the Spanish law. 33. Professional qualifications and biographies of the Members of the Audit, Control and Related Party Transactions Committee Professional qualifications of each member of the Audit, Control and Related Party Transactions Committee and other important curricular information, are available in the Annex I of this Chapter. B) Operation 34. Audit, Control and Related Party Transactions Committee Regulations The Audit, Control and Related Party Transactions Committee regulations are available at the Company’s website (www.edpr.com) and at the Company’s Headquarters at Plaza del Fresno, 2, Oviedo, Spain.
EDPR Individual Annual Report 2024 38 35. Number of meetings held by the Audit, Control and Related Party Transactions Committee The Audit, Control and Related Party Transactions Committee periodically meets representatives of the internal specialized departments involved in the areas under committee’s competences in order to discuss the information periodically reported about, among others, work plans and resources of Internal Audit, Compliance and SCIRI, Company accounts, detection claims regarding financial irregularities, global risk management and audit and non-audit services provided by the External Auditor (including the appraisal about its independence). This regular interaction, in particular with regards to the periodical discussion of the development and status of the alignment of the level of risk and the accomplishment of objectives set by the Board of Directors, provides the committee with the necessary information for the development of its functions and in particular, for the assessments issued under the appraisal report over the functions of Internal Audit, and the Report regarding Risk Management and appraisal of the Internal Control System , that this committee issues for every fiscal year. During 2024, the Audit, Control and Related Party Transactions Committee held a total of eight (8) meetings, and as referred in paragraph above, in order to better perform its supervisory functions over the activities reported by the areas within its competences, the committee invited the responsible teams of the related areas to several of these meetings to provide the updates of the status of their activity and accomplishment of targets. As such, the participation of these departments at these meetings in 2024 was as follows: Internal Audit participated in eight (8), Ethics & Compliance in four (4), Risk in five (5), Financial Planning & Analysis in four (4), Corporate Finance in three (3) and Accounting, Consolidation & Tax in five (5). Likewise, the committee invited the External Auditors to four (4) of these meetings. The following tables reflect the attendance of the members of the Audit, Control and Related Party Transactions Committee to its meetings held during 2024. Until April 4 th 2024 the attendance of the Audit, Control and Related Parties Transactions of EDPR was as follows: MEMBER POSITION ATTENDANCE Acácio Piloto Chair 100% Rosa García García Vocal 100% José Félix Morgado Vocal 100% From April 4 th 2024 to December 31 st 2024, the attendance of the Audit, Control and Related Parties Transactions of EDPR was as follows: MEMBER POSITION ATTENDANCE José Félix Morgado Chair 100% Rosa García García Vocal 88% Ana Paula Serra Vocal 100% On September 9 th and 10 th , 2024, an extraordinary meeting of the Committee was held in Madrid to discuss the audit plan, the new reporting regulations and the update of different areas as IA, Ethics & Compliance and Tax. In that extraordinary meeting of the Committee, PwC experts conducted specialized seminar on the new regulations. 36. Availability of the Members of the Audit, Control and Related Party Transactions Committee The members of the Audit, Control and Related Party Transactions Committee are fully available for the performance of their duties having no constraints for the execution of this function simultaneously with positions in other companies. The positions held simultaneously in other companies inside and outside the Group and other relevant activities undertaken by members of this committee throughout the financial year are listed in Annex I of this Chapter.
EDPR Individual Annual Report 2024 39 C) Powers and duties 37. Procedures for hiring additional services to the External Auditor In July 2022, EDPR approved an internal regulation to rule the provision of services and relationship with the External Auditor, with regards to both audit and non-audit services to be hired, and the reporting and approval procedure to be applied. These regulations also establish the independence criteria to be considered. In accordance with the rules included under this regulation, and in line with recommendation VII.2.1. of the IPCG Corporate Governance Code, in EDPR there is a policy of pre-approval by the Audit, Control and Related Party Transactions Committee of the provision of non-audit services to be provided by the External Auditor and any related entity. This policy was strictly followed during 2024. This competence is also established under Article 8. A) b) of the Committee Regulations. The analysis of the adequacy of the provision of non-audit services by the External Auditor and entities in a holding relationship (with or incorporated in the same network as the External Auditor) is performed considering the following aspects: (i) such services having no effect on the independence of the External Auditor and any safeguards used and (ii) the position of the External Auditor in the provision of such services - notably the External Auditor’s experience and knowledge of the Company. Furthermore, although hiring services other than auditing services to the External Auditor is admissible, it is envisaged as an exception. In 2024 such services reached only around 6.16% of the total amount of services provided to the Company. 38. Other duties of the Audit, Control Related Party Transactions Committee Apart from the competences expressly delegated on the Audit, Control and Related Party Transactions Committee according to Article 8 of its Regulations, and in order to safeguard the independence of the External Auditor, the following additional competences of this committee were exercised during the 2024 financial year and should be highlighted: Pre-approval of any services to be hired from the External Auditor and perform its direct and exclusive supervision. Assessment of the qualifications, independence, and performance of the External Auditors, and obtaining, yearly and directly from the External Auditors, written information on all relations existing between the Company and the External Auditors or associated persons, including all services rendered and all services in progress. In order to evaluate independence, the Audit Committee, obtained the information regarding External Auditors’ independence in light of the Spanish Law no. 22/2015 of July 20 th , 2015 (“Ley de Auditoría de Cuentas”). Review of the transparency report, signed by the External Auditor and disclosed at its website. This report covers the matters provided for under Law no. 22/2015 of July 20 th , 2015 (“Ley de Auditoría de Cuentas”) including those regarding the quality control internal system of the audit firm and the quality control procedures carried out by the competent authorities. Review with the External Auditors their scope, planning, and resources to be used in their provision of services. Following the best Corporate Governance practice, the Committee held a specific and complementary meeting with the External Auditors twice a year to discuss any remark in the process of the elaboration of the Company half year and year end accounts. IV-V. Statutory and External Auditors 39-41. According to the Spanish law, the External Auditor (“Auditor de Cuentas”) is appointed by the General Shareholders’ Meeting and corresponds to the statutory auditor body (“Revisor Oficial de Contas”) described on the Portuguese Law. The information about the External Auditor is available in topics 42 to 47 of this Chapter. 42. External Auditor identification The main criteria considered in the selection of the most suitable and competitive firm to be appointed as External Auditor of EDPR are the following: Recognized technical and professional track record as External Auditor. Consolidated Know-How about the business developed by the whole Group. Tailored and highly prepared working team.
EDPR Individual Annual Report 2024 40 Competitive contractual conditions and working methodology (including but without limitation, the total estimation of hours required for the development of the services- both as a total for the complete provision of services, and per each professional category of the proposed team). Competitive fee proposal, including the final cap and a breakdown referring the price average per hour, and the remuneration per hour for each professional category of the proposed team. As a result of a competitive process launched in 2017, during which the above criteria were exhaustively analysed, PricewaterhouseCoopers Auditores, S.L. was appointed as EDPR SA External Auditor by the Shareholder’s Meeting held on April 3 rd , 2018. The renewal of PricewaterhouseCoopers Auditores, S.L. as External Auditor of EDPR in 2021 for a three year period was approved by EDPR’s Shareholders Meeting on April 12 th , 2021. At the General Shareholders’ Meeting held on April 4 th , 2024, PricewaterhouseCoopers Auditores, S.L. Statutory Auditor registered in the Spanish Official Register of Auditors under number S0242, with tax identification number B-79031290 was re-elected as External Auditor for the three-year period 2024-2026. PricewaterhouseCoopers Auditores, S.L. is currently represented by Antonio Velasco Dañobeitia. 43. Number of years of the External Auditor PricewaterhouseCoopers Auditores, S.L. was first appointed as External Auditor of EDPR on April 3 rd , 2018 and were re-elected on April 12 th , 2021 (for the 2021-2023 period) and on April 4 th , 2024 (for the 2024-2026 period). 44. Rotation Policy Until year end of 2022, the personal Law of EDPR –the Spanish Law– and EDPR External Auditor Regulations, established the maximum term for an audit firm as the External Auditor of a listed company in a 10-year term. However, this reference was updated under the Spanish Law with effects in January 2023, in order to establish that the maximum term will be a total of 20 years, provided that a public tender is launched after completing the tenth fiscal year. Following the proposal of the Audit, Control and Related Party Transactions Committee presented to the Board of Directors to its submission to the General Shareholders’ Meeting, on its meeting held on April 3 rd 2018, it was approved to appoint PricewaterhouseCoopers Auditores, S.L as EDPR’s External Auditor for the years 2018, 2019 and 2020. The renewal of PricewaterhouseCoopers Auditores, S.L. as External Auditor of EDPR SA for years 2021, 2022 and 2023 was approved by EDPR’s Shareholders Meeting on April 12 th , 2021. In view of the above, the Audit, Control and Related Parties Committee agreed at its meeting on December 19 th , 2023 to submit to the Board of Directors the proposal for the re-election of PwC as External Auditors for the period 2024-2026, approved at the Annual General Shareholders’ Meeting held on April 4 th , 2024. Likewise, the applicable regulation requires that in case of listed companies, every five (5) years since the initial contract, the person designated by the External Auditor as its signatory of the audit report shall also rotate. For these purposes, it is hereby stated that 2024 was the second year of Antonio Velasco Dañobeitia, current partner signing the audit report of the Group, as External Auditor of EDPR Group. 45. External Auditor evaluation The Audit, Control and Related Party Transactions Committee is responsible for the overview and annual evaluation of the services provided by the External Auditor according to the competences granted by its Regulations and in line with the rules established under the Regulations for the provision of services by the External Auditor. In order to perform this assessment, this committee periodically includes in the agenda of its meetings a topic regarding the review of the services provided by the External Auditor (both audit and non-audit) and the fees already incurred and those estimated until year end. Likewise, and as mentioned in section 35 of this Chapter, the External Auditor attends and participates in some of the meetings held by this committee, mainly in order to analyse the results of their audit reports. As such, the Audit, Control and Related Party Transactions Committee acts as the company speaker with the External Auditor, with whom establishes a permanent contact throughout the year to assure the proper conditions for the provision of both the statutory audit services and non-audit services and being also the body in charge of monitoring its independence along the year. Likewise, the External Auditor shall sign an annual statement declaring its independence. During 2024, according to the Audit, Control and Related Party Transactions Committee’s competences and in line with Recommendation VIII.2.2, this committee was the first and direct recipient and the corporate body in charge of the permanent contact with the External Auditor on matters that may pose a risk to their independence as well as any other matters related to the auditing of accounts.
EDPR Individual Annual Report 2024 41 Additionally, in compliance with the auditing standards in effect, it also receives and maintains the record of information about other matters as provided in the applicable auditing and accounting legislation. The External Auditor, within the scope of its duties, verified the implementation of the remuneration policies and systems of the corporate bodies as well as the efficiency and effectiveness of the internal control mechanisms and report any shortcomings to the Audit, Control and Related Party Transactions Committee of the Company. 46. Non-Audit Services carried out by the External Auditor As previously referred, in July 2022, it was approved the regulation on the provision of services by the External Auditor or Statutory Audit Firm, which defines and promotes criteria and methodologies to safeguard the independence of the audit and non-audit services. In accordance with such regulation, the Audit, Control and Related Party Transactions Committee closely follows the requests of non- audit services, each of which necessarily require the preapproval of this committee before its provision as per exposed in topic 29 of this Chapter and Article 8.A), b) of its Regulations. The identification of such non-audit services that will eventually be provided by the External Auditors is performed under the rules issued by the European Union on this matter, in particular under Regulation 537/2014 and the Spanish Auditing Law nº 22/2015, of July 20 th , as well as when applicable, in line with the particularities of the local regulations where the service is to be provided. During 2024 the non-audit services provided by the External Auditor of EDP Renováveis S.A (PricewaterhouseCoopers Auditores, S.L) consisted mostly on i) limited review as of March 31 st , 2024, June 30 th , 2024 and September 30 th , 2024 for the issue of the interim report and quarterly information on the EDPR accounts; ii) review of the internal control system on financial reporting for the EDPR Group; and iii) review of the non-financial information related to sustainability included in the EDPR Group’s annual report. Other non-audit services provided by the External Auditor or its network to EDPR’s subsidiaries mainly refer to i) agreed-upon procedures related to the review of covenants in the context of bank financing agreements; ii) agreed upon procedures on the financial information prepared by EDP for application purposes; iii) access to a repository of international accounting standards as well as to the PwC Accounting Manual in digital version; iv) agreed-upon procedures for confirming the connection capacity of power generation centres to verify the exemption from social tariff financing, in accordance with the criteria mentioned in Decree-Law No. 104/2023, Article 199-A, 1st paragraph, as of December 31 st , 2023 and v) tax compliance report in Greece, in accordance with the provisions of Article 65A of Law 4987/2022. PricewaterhouseCoopersAuditores, was engaged to provide the above-mentioned services due to its in-depth knowledge of the Group’s activities and processes. These engagements did not risk their independence as External Auditors and were pre - approved by the Audit, Control and Related Party Transactions Committee prior to rendering the services. 47. External Auditor remuneration in 2024 for EDP Renováveis, S.A. and subsidiaries SERVICE Europe North America South America APAC TOTAL % Audit and statutory audit of accounts 1,917,333 € 2,378,349 € 407,571 € 681,125 € 5,384,378 € 94% Other non-audit services 338,683 € 14,249 € 0 € 632 € 353,564 € 6% Total 2,256,016 € 2,392,598 € 407,571 € 681,757 € 5,737,942 € 100% The amount of other non-audit services in Europe includes among others, services that refer to the entire Group such as the review of the internal control system on financial reporting and review of the non-financial information related to sustainability included in EDPR Annual Report, which are invoiced to a European company. This amount also includes the limited review as of June 30 th , 2024, of the EDPR Consolidated Financial Statements and other reviews for Group consolidation purposes which are considered non-audit services according to the respective local regulation. Total amount for Europe includes 1,098,101 Euros of services provided by PricewaterhouseCoopers Auditores S.L. in Spain from which 813,303 Euros refer to audit services and 284,798 Euros refer to non-audit services.
EDPR Individual Annual Report 2024 42 B. Internal organisation I. Articles of Association 48. Amendments to the articles of association The amendments of the Articles of Association of the Company are of the responsibility of the General Shareholders’ Meeting. According to Article 17 of the Company’s Articles of Association (“Constitution of the General Shareholders’ Meeting, Adoption of resolutions”), and article 9 of the General Shareholders’ Meeting Regulations (“Competences”). In accordance with the applicable law, and the internal regulations, to validly approve any amendment to the Articles of Association, the Ordinary or Extraordinary Shareholders’ Meeting will need: On first call, that the Shareholders either present or represented by proxy, represent at least fifty percent (50%) of the subscribed voting capital. On second call, that the Shareholders either present or represented by proxy, represent at least twenty-five percent (25%) of the subscribed voting capital. In the event that the shareholders attending represent more than fifty percent (50%) of the subscribed voting capital, the resolutions referred to in the present paragraph will be validly adopted when reached absolute majority. If the shareholders attending represent between twenty-five percent (25%) and fifty percent (50%) – but without reaching it – the favourable vote of two-thirds (2/3) of the present or represented capital in the General Shareholders’ Meeting will be required in order to validly approve these resolutions. In 2024, there was one amendment to EDPR Articles of Association: On May 22 nd , 2024, the Company increased its share capital by issuing new shares out of reserves, using the rights issued under the scrip dividend program. The decision to carry out this capital increase was taken on April 23 rd , 2024 by the Board of Directors, with the prior approval of the General Shareholders’ Meeting on April 4 th , 2024. The nominal amount of the capital increase was EUR 79,388,850.00 and was carried out by issuing 15,877,770 new ordinary shares with a nominal value of EUR 5 each. As a result, article 5 ("Share capital") of the Articles of Association was amended, and the share capital is now 5,199,279,355€.
EDPR Individual Annual Report 2024 43 II. Reporting of irregularities 49. Irregularities communication channels Speak Up Channel The EDP Group has long pursued principles of trust and transparency regarding the way it develops its activity and relates to all its stakeholders, making its options clear in this matter, both through the Code of Ethics and the Integrity Policy. These principles of trust and transparency naturally include channels for reporting alleged unethical and/or illegal behaviour, which all stakeholders can use whenever they consider that the company's ethical and integrity principles may be at risk. The implemented whistleblowing management system follows essential and deterministic guiding principles at each stage, such as independence, impartiality, and objectivity in the analysis and handling of registered cases, along with the guarantee of absolute confidentiality. Complaints can also be reported anonymously, although the possibility of any interaction deemed necessary with the complainant is guaranteed. EDPR ensures the protection and non-discrimination of whistleblowers who make their communications, reports, or complaints in good faith and on a well-reasoned basis, even if the reported facts are not precise or do not lead to any disciplinary or judicial process, and no acts of reprimand or retaliation will be admitted that, directly or indirectly, motivated by a report, cause or may cause the whistleblower any unjustified harm. EDPR provides access to the Speak up channels through its website, as well as to the respective Whistleblowing Management Policy. Information about the mentioned channel and policy can be found on the Speak up page on the company's website at https://www.edpr.com/en/speak-up The Ethics Commission of EDPR play a crucial role in this system, being responsible for the analysis and deliberation on the received reports, as well as for promoting principles of business ethics. This commission is composed of qualified and independent members who act with impartiality and rigour to ensure compliance with the Code of Ethics and the company's internal standards. For further information on the reports received by the Ethics Commission in 2024, please see Annexes available under "Other Indicators”.
EDPR Individual Annual Report 2024 44 III. Internal Control and Risk Management 50. Internal Audit The Group, in line with its commitment to ensure the exercise of its activity in accordance with the highest standards of ethics and integrity, has implemented a Compliance Management System, coordinated by the Ethics & Compliance Global Unit. This system, aligned with the risk management model, founded on a solid internal control system, structured according to the "three lines of defence," which operate in an integrated manner to identify and adequately manage the risks arising from the activity. Under this system: The First line of defence (Business): has, among others, the responsibility for the daily and proactive management of compliance risks, in line with the established regulations. The decision makers are the main persons responsible for each functional, business or support unit and all its employees working in these areas. The Second line of defence (Ethics & Compliance): it has, among others, the responsibility of ensuring business support in the identification, analysis, evaluation, mitigation, and monitoring of risk, as well as challenging and questioning the potential risks that may arise. The Ethics & Compliance team, the Ethics & Compliance Focal points and the Ethics & Compliance Supporters can be identified as the main responsible parties. The Third line of defence (Internal Audit): it has, among others, the responsibility for conducting independent audits to the Compliance Management System. These audits may also be carried out by independent external entities with recognized capacity for that purpose. This model enables the rationalization of resources and efforts, promotes coordination between functions, and standardizes language, connecting all Regions, Platforms and Global Business Services through a common infrastructure that shares the same processes and information systems. This facilitates the harmonization of guidelines and methodologies across the organization and different regulatory scopes, ensuring alignment with other internal policies and procedures and promoting the continuous improvement of the actions developed. Specifically, within the scope of the 2nd line of defence, Ethics & Compliance has the mission to promote a culture of compliance based on the highest ethical standards, through the identification of relevant ethics and compliance risks and the dissemination and coordination of the implementation of mechanisms that promote compliance and ethics, providing proactive and systematic advice to the entire organization, namely regarding policies and instruments for managing business ethics. The Ethics & Compliance activity is essentially based on the following pillars: Identification, analysis and assessment of ethics and compliance risks; promotion and coordination of the implementation of policies, procedures, and other control mechanisms, in order to mitigate the identified ethics and compliance risks; development of training and communication on ethics and compliance; monitoring the implementation of procedures and other ethics and compliance mechanisms adopted, in order to assess the maintenance of their adequacy and effectiveness; implementation of a whistleblowing management system; periodic reporting to Audit, Control and Related Party Transactions Committee of the most relevant topics that may represent a significant risk for the Group. It also has as main responsibilities to contribute to the continuous improvement of risk management processes associated, in an external plan, with legal and regulatory compliance and, in an internal plan, with compliance with the internal regulations and procedures in force, also ensuring the implementation of the Internal Control over for Financial Reporting System (ICFR). In the performance of its duties, the Ethics & Compliance reports functionally to the Audit, Control and Related Party Transactions Committee, a specialized committee of the Board of Directors of EDPR. A culture of tone at the top in ethics and compliance matters is approved and disseminated, ensuring the implementation of the Compliance Management System in alignment with the Group's strategic objectives. A model to structure its Compliance Management System has been adopted, which is formalized in the Compliance Standard, updated in 2024. This system is aligned with international best practices, with EDPR obtaining dual certification in Criminal Compliance and Anti-Bribery Management systems, thus meeting the requirements established by UNE 19601 and ISO 37001 standards. The Compliance Management System demonstrates the Group’s commitment to ensure (i) an adequate identification, assessment, and management of non-compliance risks, in order to minimize the risk
EDPR Individual Annual Report 2024 45 of sanctions, namely financial and possible operational and reputational impacts, and (ii) the confidence of its stakeholders, reinforcing the Group's competitiveness. Based on the defined governance model, the Group's Compliance Management System is developed from a risk assessment, which is reviewed periodically or whenever there are material changes in the legal and regulatory context or the organizational context. This assessment allows the identification of the legal requirements and others compliance obligations or of the most relevant normative scopes for the organization, resulting in the structuring and development of different Specific Compliance Programs, through a process that goes through different sequential phases: (i) planning, (ii) conceptual structuring and design, (iii) support for implementation; (iv) monitoring of implementation and (v) ongoing maintenance and continuous improvement. At the level of each Specific Compliance Program level, following the methodological approach of the Group’s Compliance Management System and based on the identification and evaluation of their specific risks, policies, procedures, and other compliance mechanisms are developed. Through these policies, procedures and mechanisms, the fundamental principles of compliance management are formalized, and the rules and control mechanisms implemented are detailed, reflecting on activities developed internally or by third parties on behalf of the company, and which are key elements for the dissemination of a compliance culture throughout the Group. Ethics & Compliance ensures the follow-up and monitoring of the development, operation, and implementation of the Specific Compliance Programs. In accordance with the respective annual activity plan, the Internal Audit function conducts specific audit work, addressing ethics compliance topics. Additionally, the Compliance Management System and some Specific Compliance Programs are also subject to independent external audit. The results of the monitoring and any recommendations issued by internal or external audits are considered for the purpose of improving compliance management, with a view to continuous improvement. For more information on the development of the main Specific Compliance Programs and training, see section“Business Ethics” in the Sustainability Statement. EDPR’s Internal Audit Department (“IAD”) is composed by thirteen (13) members. Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. The Internal Audit department has the mission of enhance and protect organizational value by providing risk-based and objective assurance, advice and insight, covering the following areas of activity: Evaluate and issue recommendations to improve the Company's governance processes. Assist the organization to improve risk management processes and maintaining effective controls by evaluating their effectiveness and efficiency and by promoting continuous improvements covering the governance, operations and information systems of the organization, regarding to: ii.ii. Achievement of the organization’s strategic objectives. 1.i. Reliability and integrity of financial, non-financial and operational information. 1.ii. Effectiveness and efficiency of operations and programs. 1.iii. Safeguarding assets. 1.iv. Compliance with laws, regulations, policies, procedures and contracts. The Internal Audit services can be divided into two categories: assurance services and consulting. Assurance services consist in objective analyses of evidence to provide an independent assessment of the organization's governance, risk management, and control. The consulting services performed at the specific request of the Company Governing Bodies or of any of its Officers. They consist of advisory activities and related services designed to add value and improve the organization's governance, risk management, and control processes without the internal auditor assuming any management responsibility. The fulfilment of these objectives aims to reduce the risks in pursuing the activity and increase the creation of value for the Group. Therefore, approaches based on a proactive view of internal control measures geared to the relevant risks must be taken, making them a relevant support tool for management. The IAD is not an executive body of EDPR, so it has no power in making management decisions in the Group’s activities, nor any hierarchical or functional link with the audited units, thus maintaining a relationship of total independence and objectivity in relation to them. This positioning makes it possible to achieve the following objectives:
EDPR Individual Annual Report 2024 46 Ensure the independence of the Internal Audit activity and fulfils its responsibilities. Ensure objectivity in obtaining the conclusions of work carried out and the resulting recommendations, as well improvement actions to be implemented. As such, the Internal Audit, in development of its function, should be an instrument to support management with proactive view of internal control systems. In this sense, the collaboration of the entire Organization is essential to achieve the objective set. The Internal Audit Department, as well as all professionals assigned to this function, will govern their performance by Internal Audit Standard, the Fundamental Principles for the Practice of Internal Auditing, the Code of Ethics and the International Standards for the Professional Practice of Internal Audit approved by The Institute of Internal Auditors (IIA). The functions of the Internal Audit Department of EDPR were evaluated by the “Instituto de Auditores Internos” for the first time in 2020, obtaining the highest qualification. 51. Organisational structure of Internal Audit The Internal Audit function in EDPR is a corporate function, carried out by the Internal Audit Department (IAD), which has administrative dependence to the CEO of EDPR and functional dependence to the Audit, Control and Related Parties Committee which supervise the activities and to which Internal Audit activities are reported. Administrative Dependence In terms of the IAD’s administrative dependence to the CEO of EDPR, the CEO of EDPR shall: Create adequate information flows that allow IAD to keep up to date on the company's activities, plans and initiatives. Support the internal audit function, positioning the IAD at an appropriate level within the EDPR’s organization. Facilitate direct and open communication to the EDPR Group's Management and Administration bodies. Provide the appropriate technical, human, financial and information-gathering means that enable the IAD to fulfil its functions, in accordance with the approved Audit Plan. Request assurance and consultancy projects from IAD that it deems necessary considering the Organization's objectives and risks. Approve, annually, in coordination with the Audit, Control and Related Party Transactions Committee, the IAD Audit Plan, based on the EDPR's risk matrix and the Basic Standard for Internal Audit. Approve, whenever applicable, in coordination with the Audit, Control and Related Party Transactions Committee, the remuneration of the IAD Director and the process of his/her appointment, evaluation and removal. Assess the activity and performance of the IAD and the adequacy of working conditions, namely in terms of human resources and technical and financial means, checking if there are limitations or interferences within the scope of the Internal Audit function or its budget that may make it impossible to IAD to fulfil its responsibilities. Overseeing the effectiveness of the internal audit systems and, if necessary, proposing improvement measures. Functional Dependence In terms of the IAD's functional dependence to the Audit, Control and Related Party Transactions Committee, the Audit, Control and Related Parties Committee should: Approve, annually, in coordination with the CEO of EDPR, the IAD Audit Plan, based on the EDPR's risk matrix and the Basic Standard for Internal Audit. In this context, also approve the human and financial resources to be made available by EDPR to the IAD. Approve, in coordination with the CEO of EDPR, the remuneration of the IAD Director and the process for his/her appointment, evaluation and removal. Receive communications and individual reports and conclusions, issued by IAD, on the activity developed by IAD. Assess the activity and performance of the IAD and the adequacy of working conditions, namely in terms of human resources and technical and financial means, checking if there are limitations or interferences within the scope of the Internal Audit function or its budget that may make it impossible to IAD to fulfil its responsibilities.
EDPR Individual Annual Report 2024 47 Overseeing the effectiveness of the internal audit systems and, if necessary, proposing improvement measures. The functions of the Audit, Control and Related Party Transactions Committee regarding to Internal Audit are defined in its Internal Regulation. 52. Risk Management Risk management is an integral part of business management and is everyone's responsibility, from the Board of Directors down to the individual employee. Everyone is responsible for being aware of the risks in their area of activity and managing them in a way that is integrated with their roles, competences and delegated responsibilities. EDPR manages its significant risks from a portfolio perspective, optimising the risk-return ratio across all its activities, with a view to creating value and standing out in the markets in which it operates. EDPR also endeavours to constantly improve its risk management to reflect the evolution of its needs and to keep in line with the best international risk management practices. The integration of risk management into the most relevant business and decision-making processes is promoted, as a component of (i) strategic development, (ii) investment decisions, (iii) the business plan and (iv) operations management, with the aim of ensuring stable results and optimising the capacity to respond to changes in context and opportunities. The risk management process is structured around three lines of defence (business, risk management/compliance and internal and external auditing), each conducted independently and ensuring an adequate degree of segregation from the others. The functions of identifying, analysing, assessing, treating, and monitoring risk are overseen by a set of bodies with clearly established roles and responsibilities, typified by EDPR’s policies, which are approved and ratified by the competent bodies. Below are brief descriptions of these bodies: The Board of Directors (BoD) is the primary direct stakeholder influencing governance. One of the Board of Directors’ many functions is to adopt a risk oversight role, ensuring risk management policies and procedures designed and implemented by the company are aligned with its strategy and risk appetite. Additionally, it is also the responsibility of the BoD to ensure these risk policies and procedures are functioning as intended and that necessary steps are taken to foster an enterprise-wide culture that supports appropriate risk awareness, behaviours and judgements. For that reason, the ERM Framework should be submitted for approval to the Board of Directors every year, so that risk management practices, appetite and limits can be validated. The Board of Directors has set up delegated Committees, (1) Management Team, (2) Audit, Control and Related Party Transactions Committee, (3) Appointments and Remuneration Committee, and (4) Environmental, Social and Corporate Governance Committee. The Management Team is nominated by the BoD, and within the risk management process, EDPR Management Team has the following accountabilities: (1) Approve EDPR’s strategic plan and the implicit risk appetite; (2) Define the global objectives of the company and manage the risk-return trade off; and (3) Approve the risk management policies and ensure their compliance. The Audit, Control and Related Party Transactions Committee is an independent supervisory body composed by non-executive members that closely supervises risk management procedures, namely through the supervision of the quality, integrity and efficiency of the internal control system, risk management and internal audit. The Risk area, headed by the Chief Risk Officer, performs a function that is independent from the conduct of business, and supports the Management Team and remaining management bodies at the level of the second line of defence. The Risk area is divided between: The Risk Centres of Excellence (CoE) are divided in three: Corporate CoE, responsible for the Enterprise Risk Management, the analysis and overview of the strategic risks, the aggregation of the full EDPR risks and the external risk reporting; Financial CoE, responsible for the management of the financial risks, defining the insurance strategy and developing risk analysis for new investments, and; Counterparty CoE, responsible for counterparty risk management, including the analysis and establishment of limits for the acceptance of new contracts. The Platform Business Partners, which play the main role in operationalising risk management and are under the direct hierarchical dependence of both the Chief Risk- Officer and of the respective Platform Management Team, acting in a segregated manner and independent from the conduct of the business. Additionally, there is a EDPR risk responsible in the Risk area who is accountable to ensure that risks for EDPR are being properly managed (within the approved risk limits) and reported to EDPR Board of Directors and Audit, Control and Related Party Transactions Committee.
EDPR Individual Annual Report 2024 48 The risk-owners of the Platforms, Regions and Support Functions are all the business managers who assume risk in their day-to-day activities and act in accordance with the defined risk strategies. Discussion and decision making of risk topics for EDPR is performed in the same committees as for the EDP group (always with the presence of EDPR risk responsible): The Global Risk Committee's main objective is to support the decisions of EDP’s Executive Board of Directors in identifying, analysing, assessing, treating and monitoring risk. New policies and risk limits or update of those are discussed and approved in this forum. This Committee meets on a quarterly basis. The Committee is made up of the main decision- makers and those responsible for the Group's and EDPR recurrent risk management (members of EDP’s Executive Board of Directors, regional and platform heads, key corporate areas and members with responsibility for risk management of the main platforms/geographies). The Financial Risk Committee main objective is to review main financial risks and discuss the execution of mitigation strategies. Exchange rate risk, interest rate risk, liquidity risk, commodities risk and credit risk from financial counterparties are most relevant risks reviewed in this committee. Additionally, an overview of the risk assessments developed for the new investments is also discussed. This Committee meets on a quarterly basis. The Committee is made up of the main finance decision-makers and those responsible for the Group's and EDPR’s recurrent financial risk management (members of EDP’s Executive Board of Directors, regional and platform heads, key Finance team members, key corporate areas and members with responsibility for risk management of the main platforms/geographies). The Risk Monitoring Committee meets monthly to provide an overview of the most relevant risk exposures, namely growth execution risk, energy market risk, regulatory risk and counterparty risk. Additionally, a status of all risk limits is provided, focusing on the exposures that are beyond the limit and/or that had relevant changes. The Committee is made up of the main decision-makers and those responsible for the Group's and EDPR’s recurrent risk management (members of EDP’s Executive Board of Directors, regional and platform heads, key corporate areas and members with responsibility for risk management of the main platforms/geographies). The Platform Risk Committees are set up and carried out at the level of the Group's Platforms when the structure of the Platform and the degree of complexity of risk management justifies it, assuming a structure replicated from the Group’s Risk Committee. These Committees are typically coordinated by the respective Risk Business Partner and are attended by members of the Platform Management Team, key areas of the Platform, as well as the Chief Risk Officer, to ensure alignment at Group level. EDPR’s responsible also attends all meetings that may impact EDPR risk management. 53. Risk Map EDPR's risk taxonomy, from an integrated perspective and in a common language, is structured around six blocks: Energy Market risk, Financial risk, Strategic risk, Counterparty risk, Operational risk and ESG Risk. The figure below shows the risk categories to which EDPR is exposed. Further details on the The various risks to which EDPR is subject, which fall into these categories, are available on the EDPR website: EDPR Risk Taxonomy | edp.com.
EDPR Individual Annual Report 2024 49 54. Risk functions and framework EDPR risk management is structured around five main phases (identification, analysis, evaluation, treatment, and monitoring), complemented by a prior phase of establishing the context, and by adequate levels of communication between the various stakeholders: More details on each of the stages of the risk management process can be found on EDPR's website: EDPR's Risk Management Process | edpr.com. To provide clarification on IPCG Recommendation V.1., EDPR’s Audit, Control and Related Parties Committee conducted a review and gave a favourable opinion for the revised Enterprise Risk Management Framework, which included updated baseline limits, a revised risk taxonomy and other content additions. Following this review, the revised ERM Framework was presented and approved by EDPR’s Board of directors. 55. Details on the internal control and risk management systems implemented in the company regarding the procedure for reporting financial information With the purpose of not only controlling risks, but also managing them ex-ante, EDPR has created Global Risk policies that are enforceable at a Global Level. These policies are proposed and discussed in the Risk Committee and approved by the Management Team. EDPR’s Enterprise Risk Management Process is inspired on Basel Committee on Banking Supervision’s principles, guidelines and recommendations and is similar to other risk management frameworks. In this respect, performance of risk metrics at EDPR and their compliance with established internal risk limits are assessed on a monthly basis. Additionally, a formal review and update of each Risk Policy, and the adequacy of its limits, is performed every two years. Internal control system of financial reporting EDP Renováveis Group has implemented the Internal Control System of Financial Reporting (ICFR), based on criteria established by the regulatory framework of internal control issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO 2013), in relation to business processes and entity level controls, and the Control Objectives for Information and Related Technologies (COBIT), in relation to the general controls of information technology. According to the adopted methodology and the Internal Control System of Financial Reporting Standard, activities were carried out related to the implementation, maintenance, monitoring and assessment of the internal control system, within the competence of those responsible that participate in the EDP Renováveis Group. It is highlighted the development of the following activities:
EDPR Individual Annual Report 2024 50 Planning and monitoring the annual ICFR cycle, maintenance and review of reference models, conceptual and methodological support to Regions/Platforms and Global Business Services (GBS); Defining ICFR Scoping Model based in the consolidated financial information, supported on materiality and risk criteria on a "top down" approach (Ethics & Compliance) and "bottom up" approach (Regions/Platforms and Global Business Services), on annually basis and mid-year review, which the processes considered relevant are identified; Support for Regions/Platforms and Global Business Services (GBS) in the documentation and review of new controls and redesign of the existing, as well as in the identification, review, and appointment of ICFR responsible, resulting from the inclusion of new topics, by materiality and/or risk and legal, structural, procedural and/or accounting changes; Identification of relevant Information Systems that supports ICFR and analysis of "service organizations", for monitoring the issuance of the ISAE 3402 (International Standard on Assurance Engagements), reports corresponding to an independent assessment of the control environment used by information technology service; Monitoring and support provided to Regions/Platforms and Global Business Services (GBS) in the resolution of identified non-compliances and improvement opportunities and reporting to internal responsible and supervisors; Launch and monitoring of the self-certification process, through which those responsible for the internal control, declare their explicit recognition of (i) sufficiency or insufficiency of the controls documentation in terms of updating and adjustment, (ii) its execution and maintenance of evidence, (iii) actions approval and implementation related to the resolution of non-compliance and improvement opportunities and (iv) compliance with the Code of Ethics and the Integrity Policy; Monitoring of the annually assessment process conducted by the External Auditor, in terms of work planning and interactions with Regions/Platforms and Global Business Services (GBS). On this matter, the External Auditor issued an independent report on the EDPR's Internal Control of Financial Reporting System related to the financial statements as of December 31 st , 2024, without reservations nor qualifications, presented in the annex "Certifications and Declarations", concluding with a reasonable degree of assurance, regarding the design and effectiveness of the internal control of financial reporting system of EDP Renováveis Group. IV. Investor Assistance 56. Investor Relations department EDPR seeks to provide to shareholders, investors, financial analysts and other stakeholders and the market in general, all the relevant information about the Company and its business environment, on a regular basis and whenever a relevant fact takes place. The promotion of transparent, consistent, rigorous, easily accessible, and high-quality information is essential to an accurate perception of the Company’s strategy, financial situation, accounts, assets, prospects, risks, and significant events. EDPR, therefore, looks to provide the market with accurate information that can support them in making informed, clear and concrete investment decisions. The Investor Relations Department was created to ensure a direct and permanent contact with all market related agents and stakeholders, to guarantee effective communication, equality between shareholders and to prevent imbalances in the information access. The EDPR Investor Relations Department (IR) is the intermediary between EDPR and its actual and potential shareholders, the financial analysts that follow Company’s activity, all investors and other members of the financial community. The main purpose of the department is to guarantee the principle of equality among shareholders, by preventing asymmetries in the access of the information and reducing the gap between market perception and Company’s strategy and intrinsic value. The Investor Relations department centralizes all relevant and material information that could impact EDPR share price. This information is prepared by the different departments of EDPR, with the support, when necessary, of external experts, and always managed in a strictly confidential basis. The department responsibility also comprises developing and implementing EDPR’s communication strategy and preserving an appropriate institutional and informative relationship with the financial market, the stock exchange at which EDPR shares trade and the regulatory and supervisory entities (CMVM – Comissão de Mercado de Valores Mobiliários – in Portugal and CNMV – Comisión Nacional del Mercado de Valores – in Spain). EDPR is clearly aware of the importance of detailed and transparent information, delivered on-time to the market. Consequently, EDPR publishes Company’s price sensitive information before the opening or following the closing of the Euronext Lisbon stock exchange through CMVM’s information system and, simultaneously, make that same information available on the website investors’ section and through the IR department’s mailing list. In 2024, EDPR made almost 50 market notifications, in addition to quarterly, semi-annual and annual results presentations, handouts and operating data statement elaborated by the IR Department. In addition, the IR
EDPR Individual Annual Report 2024 51 Department also elaborates key data files and interim presentations which are available on the website investors’ section. On each earnings announcement, EDPR promotes a conference call and webcast, opened to the market in general, at which the Company’s management updates the market on EDPR’s activities. On each of these events, shareholders, investors and analysts had the opportunity to directly submit their questions and to discuss EDPR’s results as well as the Company’s outlook and strategy. EDPR IR Department is coordinated by Miguel Viana and is located at the Company’s head offices in Madrid, Spain. The department structure and contacts are as follows: Miguel Viana, Head of Investor Relations & ESG Avenida de Burgos, 89; Edificio Adequa 1 A – 7 th floor; 28050 – Madrid – España Website: www.edpr.com/en/investors E-Mail: ir@edpr.com Phone: +34 900 830 004 EDPR IR Department was in continuous contact with capital markets agents, namely shareholder and investors, along with financial analysts who evaluate the Company. In 2024, as far as the Company is aware, sell-side analysts issued more than 100 reports evaluating EDPR’s business and performance. At the end of the 2024, as far as the Company is aware of, there were 27 institutions elaborating research reports and following actively EDPR activity. As of December 31 st , 2024, the average price target of those analysts was of Euro 14.61 per share with 17 “Buy”, 8 “Neutral” and 2 “Sell” recommendations. COMPANY ANALYST PRICE TARGET DATE RECOMMENDATION Alantra Fernando Lafuente € 15.73 07-Nov-24 Buy Bank of America Alexandre Roncier € 8.50 03-Dec-24 Underperform Barclays Jose Ruiz € 10.90 19-Dec-24 Equalweight Bestinver Daniel Rodríguez € 13.85 20-Dec-24 Buy COMPANY ANALYST PRICE TARGET DATE RECOMMENDATION Berenberg Andrew Fisher € 16.50 14-Aug-24 Buy BernsteinSG Jorge Alonso € 19.30 20-Sep-24 Buy BNP Paribas Manuel Palomo € 10.00 02-Dec-24 Underperform CaixaBank BPI Pedro Alves € 15.50 13-Nov-24 Buy Caixa BI Carlos Jesus € 15.40 03-Dec-24 Buy Citi Jenny Ping € 17.70 11-Sep-24 Buy Deutsche Bank Olly Jeffery € 12.50 11-Sep-24 Hold Goldman Sachs Alberto Gandolfi € 15.50 11-Nov-24 Buy HSBC Meike Becker € 11.00 18-Dec-24 Buy Intermoney Guillermo Barrio € 19.00 09-Oct-24 Buy JB Capital Jorge Guimarães € 18.30 12-Jul-24 Buy Jefferies Arturo Murua € 13.00 27-Nov-24 Buy JP Morgan Javier Garrido € 13.40 27-Nov-24 Neutral Kepler Cheuvreux Jose Porta € 17.20 28-Nov-24 Buy Morgan Stanley Arthur Sitbon € 15.00 28-Nov-24 Overweight Morning Star Tancrede Fulop € 17.00 08-May-24 Buy MedioBanca Enrico Bartoli € 15.00 07-Nov-24 Outperform ODDO BHF Philippe Ourpatian € 16.50 10-May-24 Neutral RBC Fernando Garcia € 15.00 13-Nov-24 Outperform Redburn Fawwaz Janjua € 22.00 01-Feb-23 Neutral Santander Bosco Muguiro € 14.20 04-Jul-24 Neutral UBS Gonzalo Sanchez- Bordona € 14.40 20-Dec-24 Neutral
EDPR Individual Annual Report 2024 52 COMPANY ANALYST PRICE TARGET DATE RECOMMENDATION Van Lanschot Kempen Paul Chabran € 16.00 07-Nov-24 Buy 57. Market Relations Representative EDPR representative for relations with the market at CNMV and CMVM is Rui Teixeira, Chief Financial Officer. 58. Information Requests EDPR's aims to communicate to the market with objective and transparent information that is understandable to all stakeholders. In order to achieve such intent and bearing in mind the importance of keeping a trustworthy and sustainable behaviour, EDPR has adopted a financial reporting policy based on transparent and consistent information properly conveyed to investors and analysts. In 2024, the Investor Relations received several requests for information during the year and the average response time to queries was less than 24 hours, with complex requests being replied within one-week time. V. Website – Online information 59. Website Address EDPR website: www.edpr.com 60. Location of information about the company, its status as a public limited company Please see here. 61. Location of the Articles of Association and regulations of bodies or committees Please see here. 62. Location of information on the names of members of the corporate bodies, market relations representative, investor relations office or equivalent body, their duties and forms of access Please see here. 63. Location of accounting documents, which must be available for at least five years and the six-monthly calendar of company events disclosed at the start of each half year, including General Meetings, disclosure of annual, six-monthly and, if applicable, quarterly accounts Please see here. 64. Location of notice of meeting for General Meetings and all their preparatory and subsequent information Please see here. 65. Location of history of decisions made at the company's General Meetings, the share capital represented and result of votes for the previous three 3 years EDPR considers online information a powerful tool in the dissemination of material information, updating its website with all the relevant documents. Apart from all the required information by CMVM and CNMV regulations, EDPR website also carries financial and operational updates of Company’s activities ensuring an easy access to the information. EDPR website: www.edpr.com INFORMATION LINK Company information here Corporate by-laws and bodies/committees’ regulations here Members of the corporate bodies and management structure here Market relations representative, IR department here Information channels here Financial statements documents here
EDPR Individual Annual Report 2024 53 INFORMATION LINK Corporate events Agenda here C. Remuneration I. Power to establish 66. Details of the powers for establishing the remuneration of corporate boards, members of the executive committee or chief executive and directors of the company The Appointments and Remunerations Committee is a permanent body belonging to the Board of Directors with an informative and advisory nature. Its recommendations and reports are non- binding. The Appointments and Remunerations Committee has no executive functions. The main functions of the Appointments and Remunerations Committee are to assist and inform the Board of Directors regarding the appointments (including by co-option), re-elections, dismissals, and the remuneration of the Directors and executive staff. It also informs the Board of Directors on general remuneration and incentive policies and incentives for Board members and executive staff. As such, the Appointments and Remunerations Committee is the body responsible for (i) proposing to the Board of Directors the remuneration of the Executive and Non-Executive Directors, the members of the Board Committees and the Executive Staff; (ii) the Remuneration Policy; (iii) the evaluation and compliance of the KPI’s (Key Performance Indicators); and (iv) the annual and multi annual variable remuneration, if applicable. The Board of Directors is responsible for the approval of the above-mentioned proposals except the Remuneration Policy which is approved by the General Shareholders’ Meeting. The Board of Directors also evaluates with an annual periodicity its own performance and the performance of its delegated Committees. The evaluation of the performance of the Board of Directors is then additionally submitted for the approval of the General Shareholders’ Meeting. The proposal on the Remuneration Policy is submitted by the Board of Directors for the approval of the General Shareholders’ Meeting as an independent proposal, which will be in effect for a maximum of a three-year period. According to the Company’s Articles of Association the Board of Directors remuneration is subject to a maximum value that can only be modified by a Shareholders’ agreement. II. Appointments and Remunerations Committee 67. Composition of the remuneration committee, including details of individuals or legal persons recruited to provide services to said committee and a statement on the independence of each member and advisor. The composition of the Appointments and Remunerations Committee is available in section 29 of this Chapter. The Company has not established any restrictions within its Articles of Association, Regulations or internal policies limiting the competence of the Appointments and Remunerations Committee to hire any consulting services that may be considered necessary to carry out its duties. Additionally in case such services would be hired, it should be noted that they should be rendered independently, ensuring that the service provider do not provide any other services to EDPR or to any company in controlling or group relationship. In 2024 the Appointments and Remunerations Committee hired the services of an external consultant for the identification of Independent Directors profiles to cover vacancies, and the provision of these services strictly complied with the referred requirements. 68. Knowledge and experience regarding Remuneration Policy The members of the Appointments and Remunerations Committee have knowledge and experience regarding Remuneration Policy.
EDPR Individual Annual Report 2024 54 III. Remuneration structure 69. Description of the remuneration policy of the Board of Directors and Supervisory Boards Pursuant to Article 26 of the Company’s Articles of Association, the Directors shall be entitled to a remuneration which consists of a fixed amount to be determined annually by the General Shareholders’ Meeting for the whole Board of Directors. The above-mentioned article also establishes the possibility of the Directors of receiving attendance fees or being remunerated with Company shares, share options, or other securities granting the right to obtain shares or by means of share-indexed remuneration systems. In any case, the system chosen must be approved by the General Shareholders’ Meeting and comply with current legal provisions. The total amount of the remunerations that the Company will pay to its Directors shall not exceed the amount determined by the General Shareholders’ Meeting. Pursuant to Article 26.5 of the Company’s Articles of Association, the rights and duties of any kind derived from the condition of Board Member shall be compatible with any other rights and obligations either fixed or variable that could correspond to the Board Members as a consequence of other employment or professional engagements, if any, carried out in the Company. For these purposes, the General Shareholders' Meeting held on May 13th, 2008, set a maximum annual amount for the Board of Directors for fixed remuneration of EUR 2,500,000, and at its meeting held on April 8 th , 2014, also resolved to establish a maximum annual amount for variable remuneration of EUR 1,000,000 for executive directors. For 2023 onwards, the maximum annual amount for fix and variable remuneration for the Board of Directors has been set in EUR 3,500,000 by the approval of the General Shareholders’ Meeting held on March 31 st , 2022. This amount results of the merge of the former EUR 2,500,000 that was established for fix remuneration and the EUR 1,000,000 that was established for variable annual remuneration. EDPR, in line with EDP Group corporate governance practices, has signed a Management Services Agreement with EDP, under which the Company bears the cost for such services to some of the members of the Board of Directors to the extent their services are devoted to EDPR. Variable remuneration resulting from said contracts or from any other relationship, including being a Board Member, will be limited to a maximum annual amount to be also established by the General Shareholders’ Meeting. The Non-Executive Directors only receive a fixed remuneration, which is calculated on the basis of their work as Directors and a complement as Member or Chair of the Appointments and Remunerations Committee, and/or the Audit, Control and Related Party Transactions Committee and/or the Environmental, Social and Corporate Governance Committee. Such amounts are cumulative, except for the Chair of the Board of Directors who does not receive any complement derived from his role at any Committee. EDPR has not incorporated any share remuneration or share purchase options plans as components of the remuneration of its Directors. No Director has entered into any contract with the Company or third parties that have the effect of mitigating the risk inherent in the variability of the remuneration established by the Company. In EDPR there are not any payments for the dismissal or termination of Director's duties. 70. Information on how remuneration is structured so as to enable the aligning of the interests of the members of the board of directors with the company's long-term interests and how it is based on the performance assessment and how it discourages excessive risk taking The General Shareholders’ Meeting held on March 31 st , 2022, approved the Remuneration Policy to be applied for 2023-2025 term, following the proposal of the Appointments and Remunerations Committee, which was updated on April 4 th , 2024, according to the same proceeding. This Remuneration Policy maintains a structure with a fixed remuneration for all members of the Board of Directors, whereas for the Executive Directors also defines a fixed and a variable remuneration, with an annual component and a multi-annual component. During 2024, the Board of Directors Remuneration Policy in place at any moment in time was duly applied. For further information regarding Item 70, please see Remuneration Report. 71. Reference, where applicable, to there being a variable remuneration component and information on any impact of the performance appraisal on this component Variable annual and variable multi-annual remuneration apply to the Executive Directors. For further information regarding Item 71, please see Remuneration Report.
EDPR Individual Annual Report 2024 55 72. The deferred payment of the remuneration’s variable component and specify the relevant deferral period In line with corporate governance practices, the Remuneration Policy incorporates the deferral for a period of three years of the multi-annual variable remuneration, subjecting its payment to the fact that no malicious wrongdoing is discovered after the assessment has occurred and endangers the sustainability of the company's performance, and is the subject of a claim for compensation to EDPR, brought by shareholders or third parties. For further information regarding Item 72, please see Remuneration Report. 73. The criteria whereon the allocation of variable remuneration on shares is based, and also on maintaining company shares that the executive directors have had access to, on the possible share contracts, including hedging or risk transfer contracts, the corresponding limit and its relation to the total annual remuneration value EDPR has not allocated variable remuneration on shares and does not maintain Company shares that the Executive Directors have had access to. 74.The criteria whereon the allocation of variable remuneration on options is based and details of the deferral period and the exercise price EDPR has not allocated variable remuneration on options. 75. The key factors and grounds for any annual bonus scheme and any additional non- financial benefits The key factors and grounds for any annual bonus scheme are described in the Remuneration Report. No non-monetary benefits are paid by EDPR to its Board Members, except for a company car for the Chair of the Board of Directors (whose total related cost for four years was borne and reported in in 2021) and the retirement savings plan for Executive Directors referred in the following section. It is disclosed, as recommended by VI.2.3. of the IPCG, that no additional costs were incurred by the Company in connection with the termination of functions in 2024. 76. Key characteristics of the supplementary pensions or early retirement schemes for directors and state date when said schemes were approved at the general meeting, on an individual basis The retirement savings plan applicable to 2024, which is included within the Remuneration Policy applicable for such term was defined and proposed by the Appointments and Remunerations Committee to the Board of Directors for its submission to the General Shareholder’s Meeting, which was duly approved. In accordance with the Remuneration Policy in force, for the Executive Directors of EDPR (Miguel Stilwell d’ Andrade and Rui Teixeira) it was established in a 5% of the fixed fee under the Management Services Agreement. For further information regarding Item 76, please see Remuneration Report. IV. Remuneration disclosure 77. Details on the amount relating to the annual remuneration paid as a whole and individually to members of the company's board of directors, including fixed and variable remuneration and as regards the latter, reference to the different components that gave rise to same For information regarding Item 77, please see Remuneration Report. 78. Any amounts paid, for any reason whatsoever, by other companies in a control or group relationship, or are subject to a common control The members of the Board of Directors as of end of December 2024 did not receive any payment from any company under EDPR control or subject to EDPR common control. 79. Remuneration paid in the form of profit sharing and/or bonus payments and the reasons for said bonuses or profit sharing being awarded In EDPR there is no payment of remuneration in the form of profit sharing and/or bonus payments and the reasons for said bonuses or profit sharing being awarded.
EDPR Individual Annual Report 2024 56 80. Compensation paid or owed to former executive directors concerning contract termination during the financial year In 2024 there was no compensation paid or owed to former Executive Directors concerning contract termination during the financial year. It should be noted for these purposes that in 2022, the General Shareholders’ Meeting approved and updated of the Remuneration Policy to be applied for 2023-2025 under which, except as provided in section below, is specifically established that no severance payment shall be made to Directors for termination of their duties before the end of the term of office for which they were appointed, and that Executive Directors shall not sign contracts, either with EDPR or with third parties, that have the effect of mitigating the risk inherent in the variability of the remuneration set by EDP. Considering the terms laid down by law and market practice, and approved under the Remuneration Policy for 2023-2025, duly updated on April 4 th , 2024, as on the remuneration of Executive Directors in the event of early termination of office it has been established that: In the event of termination for reasons not attributable to the Executive Director, he/she shall be entitled to receive the full fixed component until the end of the term of office for which he/she was elected, and the variable component accrued until the date of termination of office, but shall lose the right to receive any other benefits inherent to the effective exercise of functions for periods of annual or multi-annual performance not completed in their entirety. In the event of resignation not arising from an early termination agreement with EDPR, the Executive Director shall be entitled to receive only the fixed and variable remuneration accrued up to the date of resignation, the payment of which shall be made on the same terms and conditions as for serving executive Directors. In the event of termination of service by agreement with EDPR whereby the Executive Director agrees to resign, the Executive Director shall be entitled to receive the amount agreed at that time, which shall not exceed (i) the amount of the fixed component until the end of the term of office, plus (ii) the full variable component for the annual or multi-year period payable after it is determined at the end of the relevant period, as if the Executive Director had remained in office. 81. Details of the annual remuneration paid, as a whole and individually, to the members of the company's supervisory board For information regarding Item 81, please see Remuneration Report. 82. Details of the remuneration in said year of the Chairman of the Presiding Board to the General Meeting For information regarding Item 82, please see Remuneration Report. 83. The envisaged contractual restraints for compensation payable for the unfair dismissal of directors and the relevance thereof to the remunerations’ variable component There are no contracts in force at EDPR that provide for payments in the event of dismissal or termination by agreement of the director's duties. 84. Reference to the existence and description, with details of the sums involved, of agreements between the company and members of the board of directors and managers EDPR has no agreements with remuneration implication. For avoidance of doubt, the Company has not adopted any mechanism that imply payments or assumption of fees in the case of change in the composition of the managing body (Board of Directors), and which could be likely to harm the free transferability of shares and a shareholder assessment of the performance of the members of this managing body. 85. Details of the plan and the number of persons included therein There are no option rights granted for the acquisition of shares (stock options) from which the Company's employees and personnel are beneficiaries. 86. Characteristics of the plan (allocation conditions, non-transfer of share clauses, criteria on share-pricing and the exercising option price, the period during which the options may be exercised, the characteristics of the shares or options to be allocated, the existence of incentives to purchase and/or exercise options) There are no option rights granted for the acquisition of shares (stock options) from which the Company's employees and personnel are beneficiaries.
EDPR Individual Annual Report 2024 57 87. Stock option plans for the company employees and staff There are no option rights granted for the acquisition of shares (stock options) from which the Company's employees and personnel are beneficiaries. 88. Control mechanisms for a possible employee-shareholder system inasmuch as the voting rights are not directly exercised by said employees The Company has no such control mechanisms.
EDPR Individual Annual Report 2024 58 D. Related-Party Transactions I. Control mechanisms and procedures 89. Mechanisms implemented by the Company for the purpose of controlling transactions with related parties The Spanish Companies Act sets the regulation and requirements for Related Party Transactions, including the definition of Related Party Transactions, and the approval and disclosure procedures of these type of operations. This definition of Related Party Transactions under Spanish Law considers those performed by a company or its subsidiaries, with Directors, shareholders holding a 10% or more of the voting rights or represented at the Board of the company, or with whomever that shall be considered as related party under the International Accounting Standards. With regards the competence to approve Related Party Transactions, as of such amendment, it has been established an assignation of competence to different governing bodies depending on the amount as follows: The Shareholders Meeting: transactions of an amount equal or above a 10% of the total assets according to the last annual balance sheet. These transactions shall be submitted together with a supporting report issued by the Audit Committee of the Company. The Board of Directors: transactions of an amount below a 10% of the total assets according to the last annual balance sheet. These transactions shall be also submitted together with a supporting report issued by the Audit Committee of the Company. Delegated Bodies: the Board of Directors may delegate the approval of: (i) transactions performed between companies of the same group that are performed in the ordinary management of the company and under market conditions, and (ii) that are executed under contracts with standardized terms that are wholesale applied to a high number of clients under prices or tariffs generally established by the supplier of the goods or services, the amount of which does not exceed the 0.5% of the net amount of the annual company business value. The transactions approved by the delegated body will not require the issuance of the Audit Committee report, but the Board shall establish a periodic internal reporting and control procedure involving the Audit Committee, which will verify the fairness and transparency of the transactions and the compliance with the applicable legal criteria. In light of the above, on July 27 th , 2021, the Board of Directors approved to implement the necessary adjustments in the process of analysis and approval of Related Party Transactions, and in particular resolved to take the following decisions: To approve the delegation in the Audit, Control and Related Party Transactions Committee of the competence to approve Related Party Transactions that are delegable under the law. To approve a procedure for reporting and control of such transactions involving the Audit, Control and Related Party Transactions Committee. To approve a new definition of Related Party Transactions to be regulated under the Audit, Control and Related Party Transactions Committee, considering as Related Party the following: (i) any company of the EDP Group, (ii) any company in which both EDPR SA and a Related Party have a stake, (iii) any shareholder holding a 10% or more of the voting rights or with representation at the Board of the Company, and (iv) any party deemed as related Party under the International Accounting Standards, including without limitation, Board members, Key Employees 2 and Relatives 3 . In order to formalize the above referred delegations, to amend article 8.B. (“Nature and Competence”) of the Regulations of the Audit, Control and Related Party Transactions Committee including the necessary competences to perform its duties, as follows: i. Analyse and, where appropriate, approve the (i) (a) intragroup transactions or (b) transactions performed between EDPR Group and EDP Group when their amount is below 10% of the total assets at the last annual balance sheet approved by the company, as long as they are in the ordinary management of the company and under market conditions; (ii) transactions executed under contracts with standardized terms that are wholesale applied to a high number of clients under prices or tariffs generally established by the supplier of the goods or services, and which amount does not exceed the 0.5% of the net annual company turnover, and 2 To this extent the following shall be considered as Key Employees: (i) the members of the Management Team of EDP Renováveis, S.A., (ii) the General Secretary of the Company, (iii) the Directors of Internal Audit, Compliance and Internal Control, Global Risk, Finance, ACT, Planning and Control, Investor Relations, Legal, IT, as well as (iv) any other that the Audit, Control, and Related Party Transactions Committee may designate. 3 To this extent the following shall be considered as Relatives: the spouse or assimilated partners of a Board Member and or/ of a Key Employee, the children of a Board Member and/or of a Key Employee, or of his/her spouse or assimilated partner, as well as the dependent individuals of the Board Member and/or Key Employee or of his/her spouses or assimilated partners.
EDPR Individual Annual Report 2024 59 ii. Periodically inform the Board of Directors about the transactions approved by this Committee in the exercise of the above referred delegation, stating the fairness and transparency of such transactions, and as the case may be, the compliance with the applicable legal criteria. iii. Analyse and inform about any modification of the Framework Agreement signed by EDP and EDP Renováveis on 7 th May 2008. 4 iv. Submit a report to the Board of Directors of the Company regarding the Related Party Transactions that shall be approved by the Board of Directors of EDPR SA or by its Shareholder’s Meeting in accordance with the law, and that shall include: (i) the information regarding the nature of the operation and the relation with the Related Party, (ii) the identity of the Related Party, the date and value or amount of the compensation of the transaction, and any other information necessary to appraise if the operation is fair and reasonable for the company and for the shareholders that are not Related Parties. v. Request EDP for access to the information needed to perform its duties. It should be also noted that in accordance with article 13.3 of the Regulations of the Audit, Control and Related Party Transactions Committee, the resolutions adopted by this committee are reported to the Board of Directors at the first Board meeting held following the meeting of the committee in which such proposals were discussed. That means that in case there are Related Party Transactions, they are reported to the Board of Directors at least every quarter (maximum period elapsed between Board of Directors Meeting in accordance with Article 22 of its Regulations). 90. Details of transactions that were subject to control in the referred year During 2024, EDPR has not signed any contracts with the members of its corporate bodies or with holders of qualifying holdings, excluding EDP, as mentioned below. The contracts signed between EDPR and its related parties have been analysed by the Audit, Control and Related Party Transactions Committee according to its competences, as mentioned on the previous topic, and have been concluded according to the market conditions. The total amount of supplies and services in 2024 incurred with or charged by the EDP Group was EUR 64,889 thousand corresponding to 10% of the total value of Supplies & Services for the year (EUR 489,864,556 thousand). 4 This Framework Agreement was signed between EDP and EDPR in order to regulate the transactions closed between companies of EDP Group and EDPR Group, stating that in compliance with the transparency purposes for future investors, such shall continue to be developed in line with the market prices, in an arm’s length basis, and following certain predefined principles and rules (considering criteria as parties involved, scope and amount). The most significant contracts in force during 2024 are the following: Framework agreement The framework agreement was signed by EDP and EDPR on May 7 th 2008 and came into effect when the latter was admitted to trading. The purpose of the framework agreement is to set out the principles and rules governing the legal and business relations existing when it came into effect and those entered into subsequently. The framework agreement establishes that neither EDP nor the EDP Group companies other than EDPR and its subsidiaries can engage in activities in the field of renewable energies without the consent of EDPR. EDPR shall have worldwide exclusivity, with the exception of Brazil, where it shall engage its activities through a joint venture with EDP Energias do Brasil S.A., for the development, construction, operation, and maintenance of facilities or activities related to wind, solar, wave and/or tidal power, and other renewable energy generation technologies that may be developed in the future. Nonetheless, the agreement excludes technologies being developed in hydroelectric power, biomass, cogeneration, and waste in Portugal and Spain. It lays down the obligation to provide EDP with any information that it may request from EDPR to fulfil its legal obligations and prepare the EDP Group’s consolidated accounts. The framework agreement shall remain in effect for as long as EDP directly or indirectly owns more than 50% of the share capital of EDPR or appoints more than 50% of its Directors. Management services agreement On November 4 th , 2008 EDP and EDPR entered into a Management Services Agreement that has been amended during the last years in accordance with the variations in the services rendered by EDP to the Company. Through this contract, EDP provides management services to EDPR, including matters related to the day-to- day running of the Company. As of December 31 st, 2024, under this agreement EDP renders management services in EDPR’s Management, notably: (i) two Executive Directors, who are also the CEO and CFO of EDPR, and (ii) two Non-Executive Directors in office until April 4th, 2024, for which EDPR paid EDP an amount defined both by the Appointments and Remunerations Committee and by the Audit, Control and Related Party Transactions Committee, and approved by the Board of Directors and the General Shareholders Meeting. Under this contract, EDPR incurred an amount of EUR 1,433,099 for the management services rendered in 2024.
EDPR Individual Annual Report 2024 60 Finance agreements and guarantees The most significant finance agreements between EDP Group companies and EDPR Group companies were established under the above-described Framework Agreement and currently include the following: Loan agreements EDPR and EDPR Servicios Financieros SA (“EDPR SF” as the borrower) have loan agreements with EDP Finance BV and EDP Servicios Financieros España (“EDP SFE” as the lender), companies 100% owned by EDP. Such loan agreements can be established both in EUR, USD and SGD, up to a 10- year tenor and are remunerated at rates set at an arm’s length basis. As of December 31 st 2024, such loan agreements totalled USD 1,926,763,526, EUR 4,419,795,739 and SGD 1,000,000,000. Current account agreement EDPR SF and EDP SFE signed an agreement through which EDP SFE manages EDPR SF’s cash accounts. The agreement also regulates the current account scheme on arm’s length basis. As of December 31 st 2024, there are two different current accounts with the following balance and counterparties: in USD, for a total amount of USD 177,913,100 in favour of EDP SFE in EUR, for a total amount of EUR 814,318,060 in favour of EDP SFE The agreements in place are valid for one year as of date of signing and are automatically renewed for equal periods. Counter-guarantee agreement A counter-guarantee agreement was signed, under which EDP or EDP S.A., Sucursal en España (hereinafter guarantor or EDP Sucursal) undertakes on behalf of EDPR, EDP Renewables Europe SLU (hereinafter EDPR EU), and EDP Renewables North America LLC (hereinafter EDPR NA) to provide corporate guarantees or request the issue of any guarantees, on the terms and conditions requested by the subsidiaries, which have been approved on a case by case basis by the EDP’s Executive Board. EDPR will be jointly liable for compliance by EDPR EU and EDPR NA. The subsidiaries of EDPR undertake to indemnify the guarantor for any losses or liabilities resulting from the guarantees provided under the agreement and to pay a fee established in arm’s length basis. Nonetheless, certain guarantees issued prior to the date of approval of these agreements may have different conditions. As of December 31 st 2024, such counter-guarantee agreements totalled in EUR equivalent 588.239. A counter-guarantee agreement was signed between EDPR Group and EDP España under which, EDPR Group can request the issue of any guarantee, on the terms and conditions requested by the subsidiaries of EDPR. EDPR group undertake to indemnify the guarantor for any losses or liabilities resulting from the guarantees provided under this agreement and to pay a fee established in arm’s length basis. As of December 31 st, 2024, there were no guarantees issued under this agreement. Cross currency interest rate swaps Due to the net investments in North America, United Kingdom and Polish companies, EDPR’s accounts were exposed to the foreign exchange risk. With the purpose of hedging this foreign exchange risk, EDPR Group companies settled the following Cross Currency Interest Rate Swap (CIRS). As of December 31 st, 2024 the total amount of CIRS by geography and currency are as following: 1. in USD/EUR, with EDP for a total amount of USD 1,363,550,000 1. in GBP/EUR, with EDP for a total amount of GBP 13,400,000 1. in PLN/EUR, with EDP for a total amount of PLN 366,057,316
EDPR Individual Annual Report 2024 61 Hedge agreements – exchange rate EDPR Group companies entered into several hedge agreements with EDP, with the purpose of managing the transactional exposure related to the short term or transitory positions, in Canada, Hungary, Chile, APAC, Poland, United Kingdom and other subsidiaries, with USD exposure, fixing the exchange rate mainly for USD and EUR, in accordance with the prices in the forward market in each contract date. As of December 31 st, 2024, the total amount of Forwards (“FWDs”) and Non Delivery Forwards (“NDFs”) by geography and currency are as following: 1. APAC operations, for EUR/JPY, a total amount of EUR 22,717,199 (FWDs), for USD/JPY, a total amount of USD 5,538,626 (FWDs), for EUR/SGD a total amount of EUR 73,233,000 (FWDs), for USD/SGD a total amount of USD 28,951,358, (FWD) and for EUR/TWD a total amount of EUR 23,018,320 (NDFs) for SGD/CNY a total amount of SGD 40,698,217 (NDFs) and for SGD/TWD a total amount of SGD 12,550,018 (NDFs) and for EUR/AUD a total amount of EUR 11,908,252 (FWD) and for VND/USD a total amount of VND 11,767,646,343 (NDF) . 1. Canada operations, for EUR/CAD, a total amount of EUR 3,005,309 (FWD) 1. Hungary operations, for EUR/HUF, a total amount of EUR 32,432,610 (FWDs) 1. Polish operations, for EUR/PLN, a total amount of EUR 169,562,987 (FWDs plus NDFs) and for USD/PLN, a total amount of USD 5,769,222 (FWDs plus NDFs) 1. United Kingdom operations, for GBP/EUR a total amount of EUR 127,294,023 (FWDs plus NDFs) 1. Other Subsidiaries operations in Europe (Spain, Portugal, Italy, France, Germany and Netherlands), for USD/EUR, a total amount of EUR 90,789,826 (FWDs) Hedge agreements – commodities EDP and EDPR SA (and its affiliates) entered into hedge agreements (settled) in 2024 for a total volume of 4,851,599.18 MWh (sell position) and 798,145.52 MWh (buy position) at the forward market price at the time of execution related with the expected sales of energy in the Spanish market. Consultancy service agreement On June 4 th 2008, EDP and EDPR signed a consultancy service agreement. Through this agreement, and upon request by EDPR, EDP (or through EDP Sucursal) shall provide consultancy services in the areas of legal services, internal control systems, financial reporting, taxation, sustainability, regulation and competition, risk management, human resources, information technology, brand and communication, energy planning, accounting and consolidation, corporate marketing, and organizational development. The price of the agreement is calculated as the cost incurred by EDP plus a margin. For the first year, it was fixed at 8% based on an independent expert on the basis of market research. For 2024 the estimated cost of these services is EUR 18,567,366.20. This was the total cost of services provided for EDPR, EDPR EU, and EDPR NA. The duration of the agreement is one (1) year tacitly renewable for equal periods. Research and development agreement On May 13 th, 2008, EDP Inovação S.A. (hereinafter EDP Inovação), an EDP Group Company, and EDPR signed an agreement regulating relations between the two companies regarding projects in the field of renewable energies (hereinafter the R&D Agreement). The object of the R&D Agreement is to prevent conflicts of interest and foster the exchange of knowledge between companies and the establishment of legal and business relationships. The agreement forbids EDP Group companies other than EDP Inovação to undertake or invest in companies that undertake the renewable energy projects described in the agreement. The R&D Agreement establishes an exclusive right on the part of EDP Inovação to project and develop new renewable energy technologies that are already in the pilot or economic and/or commercial feasibility study phase, whenever EDPR exercises its option to undertake them. The fee corresponding to this agreement in 2024 is EUR 0. The agreement shall remain in effect for as long as EDP directly or indirectly maintains control of more than 50% of both companies or appoint the majority of the members of the Board and Executive Committee of the parties to the agreement.
EDPR Individual Annual Report 2024 62 Management support services agreement between EDP Renováveis Portugal S.A., and EDP GLOBAL SOLUTIONS - GESTÃO INTEGRADA de Serviços S.A. On January 1 st , 2003, EDPR – Promoção e Operação S.A., and EDP Global Solutions - Gestão Integrada De Serviços S.A. (hereinafter EDP Global Solutions), an EDP Group Company, signed a management support service agreement. The object of the agreement is the provision to EDPR – Promoção e Operação S.A. by EDP Global Solutions of services in the areas of procurement, economic and financial management, fleet management, property management and maintenance, insurance, occupational health and safety, and human resource management and training. The remuneration accrued by EDP Global Solutions by EDPR Promoção e Operação S.A. and its subsidiaries for the services provided in 2024 totalled EUR 2,216,486.20. The initial duration of the agreement was five (5) years from date of signing on January 1 st 2008, and tacitly renewable for equal periods of one (1) year. Either party may renounce the contract with one (1) year’s notice. Information technology management services agreement between EDP Renováveis S.A. and EDP, S.A. There exists an IT management services agreement effective since January 1 st , 2020, which supersedes the existing IT management services agreement from that date. The object of the agreement is to provide to EDPR the information technology services described on the contract and its attachments by EDP. The amount incurred for the services provided in 2024 totaled EUR 8,895,803.30. The initial duration of the agreement is one (1) year from date of signing and it is tacitly renewed for a new period of one (1) year. Either party may renounce the contract with one (1) month notice. Consultancy agreement between EDP Renováveis Brasil S.A., and EDP Energias do Brasil S.A. The object of the agreement is to provide to EDP Renováveis Brasil S.A. (hereinafter EDPR Brasil) the consultancy services described on the contract and its attachments by EDP – Energias do Brasil S.A. (hereinafter EDP Brasil). Through this agreement, and upon request by EDPR Brasil, EDP Brasil shall provide consultancy services in the areas of legal services, internal control systems, financial reporting, taxation, sustainability, regulation and competition, risk management, human resources, information technology, brand and communication, energy planning, accounting and consolidation, corporate marketing, and organizational development. The amount incurred by EDP Brasil for the services provided in 2024 totalled BRL 282,029. The initial duration of the agreement is one (1) year from the date of signing and it is tacitly renewed for a new period of one (1) year. General Services Agreement between EDPR Renováveis S.A. and EDP, S.A. Sucursal en España On October 1 st , 2023, EDPR and EDP, S.A. Sucursal en España signed a General Services Agreement. The object of the agreement is the provision by EDPR of preventive and corrective maintenance of the offices leased by EDP in Edificio Adequa, Avenida de Burgos, 89 (Madrid), as well as the management of accuses to the facilities, the supply of food and the use of canteen. The duration of the agreement is unlimited from date of signing. Sub-lease Agreement between EDPR Renováveis S.A. and EDP, S.A. Sucursal en España Since 2023 EDPR Group and EDP, S.A. Sucursal en España entered in a Sub-lease Agreement on the offices leased by EDP in Edificio Adequa, Avenida de Burgos, 89 (Madrid). The remuneration accrued by EDPR by EDP Sucursal for the sub-lease provided in 2024 under this agreement totalled EUR 1,910,884.04. The duration of the ends on December 31 st , 2028. Additional Transactions analysed in 2024 Likewise, in the development of the delegation made by the Board of Directors to the Audit, Control and Related Party Transactions Committee regarding the supervision of Related Party Transactions, during 2024, the following were analysed and approved by this body, and further reported to the Board of Directors: New Long-Term (LT) Shareholder Loan (SHL) of EUR 750M Partial or full prepayment of a USD 500M Long-Term (LT) Shareholder Loans (SHL). PPAs adjustment to backwardation
EDPR Individual Annual Report 2024 63 New Long-Term (LT) Shareholder Loan (SHL) of EUR 750M Brazil: Contract with EDP Trading for the purchase of energy for Cantanduba wind cluster in Feb´24 and Mar´24. Update of EDPR Group EUR and USD Current Account remuneration Update of EDPR Group spreads to new long-term intercompany loans Pre-hedge of interest rate risk of up to EUR 750 million, for a potential EUR LT Loan to be issue on the 2H 2024. Review of the billing model from EDPR to EDP Inovaçao, S.A. Early Repayment of a Shareholder Loans, with due date of 15 th August 2024 to 15 th of July 2024, in a total amount of USD 300M. New Long-Term (LT) Shareholder Loan (SHL) of EUR 150M Calendar proposal for transferring EDPR Merchant Exposure to GEM in Iberia, Poland & Italy in 2025 and 2026 Brazil: Reinstate of the PPA with EDP Trading with Monte Verde solar cluster. Short term hedge in Brazil for new merchant assets under construction Updated list of related party transactions in 2023 YTD between EDPR and GEM. New Intercompany Loans from EDP Energias do Brasil (EDP BR) to EDP Renováveis Brasil (EDPR BR) New Long-Term (LT) Shareholder Loans (SHL) of EUR 100M. New Long-Term (LT) Shareholder Loans (SHL) of 1.000M. Reallocation of PPA volumes closed for Tudela I and Tudela II to Charneca Das Lebres and Pracana Projects, located in Portugal. Ratification of new Long-Term (LT) Shareholder Loans (SHL) of EUR 500M. New Long-Term (LT) Shareholder Loans USD 778 and early repayment of existing LT SHL in USD. One year market representation contract with EDP España for the Spanish portfolio. Amendment to the MoU between EDPR, EDP and the generation business units for hydrogen projects in thermal generation transition sites. New Long-Term (LT) Shareholder Loans (SHL) of EUR 200M. Implementation of Pracana Partnership under MoU between EDPP, EDPES, GEA and EDPR for Hybridization and Conversion Projects 91. A description of the procedures and criteria applicable to the supervisory body when same provides preliminary assessment of the business deals to be carried out between the company and the holders of qualifying holdings or entity relationships with the former Non applicable. II. Data on business deals 92. Details of the place where the financial statements including information on business dealings with related parties are available, in accordance with IAS 24, or alternatively a copy of said data. The information on business dealings with related parties is available on Note 39 of the Financial Statements.
EDPR Individual Annual Report 2024 64 PART II – Corporate Governance Assessment 1. Details of the Corporate Governance code implemented EDP Renováveis, S.A. is a listed company whose securities are admitted to trading on the NYSE Euronext Lisbon stock market. Following the entry into force of the Protocol between the CMVM and the Portuguese Institute for Corporate Governance (Instituto Português de Corporate Governance - IPCG), on October 13 th , 2017, the Corporate Governance Code issued by CMVM was revoked, and changes were made to the Corporate Governance Code issued by the IPCG, available at www.cgov.pt. The choice of EDPR to adopt the Corporate Governance Code issued by the IPCG, from the moment it entered into force, and under the current version, reflects the concern of always ensuring the implementationofbest corporategovernance practices. According to the CMVM Circular, dated January 11 th , 2019, this Report is structured in accordance with Article 1(4) of CMVM Regulation 4/2013, and therefore abides by the model in its Annex I, not including the sections not applicable to EDPR’s governance model. 2. Analysis of Compliance with the Corporate Governance code implemented The following table sets out IPCG’s corporate governance recommendations as included in the Corporate Governance Code 2018, according with the 2023 revision, along with the identification, for each case, of EDP’s compliance or non-compliance, as the case may be, that the provisions to not apply to the Company. In this context, EDPR states that it has adopted the Corporate Governance recommendations on the governance of listed companies provided in the Corporate Governance Code of the IPCG, with the exceptions indicated in the following table. CORPORATE GOVERNANCE RECOMMENDATIONS - STATEMENT OF COMPLIANCE CHAPTER I · COMPANY’S RELATIONSHIP WITH SHAREHOLDERS, INTERESTED PARTIES AND THE COMMUNITY AT LARGE I.1. The company specifies in what terms its strategy seeks to ensure the fulfilment of its long-term objectives [I.1. (1)] and what are the main contributions resulting herefrom for the community at large [I.1. (2)] Adopted Chapter 2.3. of the Management Report I.2. The company identifies the main policies and measures adopted with regard to the fulfilment of its environmental [I.2. (1)] and social objectives [I.2. (2)]. Adopted Section B- II, c) Topic 29 CHAPTER I I · COMPOSITION AND FUNCTIONING OF THE CORPORATE BODIES II.1. Information II.1.1.
EDPR Individual Annual Report 2024 65 The company establishes mechanisms to adequately and rigorously ensure the timely circulation or disclosure of the information required to its bodies, the company secretary, shareholders, investors, financial analysts, other stakeholders and the market at large. Adopted Section B - II, a) Topic 15 Section C) -III, Topic 55 Section C-IV, Topic 56 Section C-V, Topics 59 – 65 II.2. Diversity in the Composition and Functioning of the Corporate Bodies II.2.1. Companies establish, previously and abstractly, criteria and requirements regarding the profile of the members of the corporate bodies that are adequate to the function to be performed, considering, notably, individual attributes (such as competence, independence, integrity, availability and experience), and diversity requirements (with particular attention to equality between men and women), that may contribute to the improvement of the performance of the body and of the balance in its composition. Adopted Section B-II, a) Topics 16 and 29 II.2.2. The management [II.2.2. (1)] and supervisory bodies [II.2.2. (2)] and their internal committees [II.2.2. (3)] are governed by regulations – notably regarding the exercise of their powers, chairmanship, the frequency of meetings, operation, and the duties framework of their members – fully disclosed on the website of the company, whereby minutes [II.2.2.(4)]/[II.2.2.(5)]/[II.2.2.(6)] of the respective meetings shall be drawn up. Adopted Section B-II, a) Topic 15 II.2.3. The composition [II.2.3.(1)] and number of meetings for each year [II.2.3.(2)] of the management and supervisory bodies and of their internal committees are disclosed on the website of the company. Adopted Section B-II, a) Topic 15 Section B-II b), Topic 23 Section B-II, c) Topic 29 Section B – III, b) Topic 35 Section C-V, Topics 59 – 65 II.2.4. The companies adopt a whistle-blowing policy that specifies the main rules and procedures to be followed for each communication [II.2.4.(1)] and an internal reporting channel that also includes access for non-employees, as set forth in the applicable law [II.2.4.(2)]. Adopted Section C-II, Topic 49 II.2.5. The companies have specialised committees for matters of corporate governance [II.2.5.(1)], remuneration [II.2.5.(2)], appointments of members of the corporate bodies [II.2.5.(3)] and performance assessment [II.2.5.(4)], separately or cumulatively. If the Remuneration Committee provided for in Article 399 of the Portuguese Commercial Companies Code has been set up, the present Recommendation can be complied with by assigning to said committee, if not prohibited by law, powers in the above matters. Adopted Section B - II, a) Topic 15 Section B-II, c), Topics 27 and 29
EDPR Individual Annual Report 2024 66 II.3. Relations between Corporate Bodies II.3.1. The Articles of Association or equivalent means adopted by the company set out the mechanisms to ensure that, within the limits of the applicable laws, the members of the management and supervisory bodies have permanent access to all necessary information to assess the performance, situation and development prospects of the company, including, specifically, the minutes of the meetings, the documentation supporting the decisions taken, the convening notices and the archive of the meetings of the executive management body, without prejudice to access to any other documents or persons who may be requested to provide clarification. Adopted Section B-II, a) Topic 15 II.3.2. Each body and committee of the company ensures, in a timely and adequate manner, the interorganic flow of information required for the exercise of the legal and statutory powers of each of the other bodies and committees. Adopted Section B-II, a) Topic 15 Section B-II, c) Topic 29 II.4 Conflicts of Interest II.4.1. By internal regulation or an equivalent hereof, the members of the management and supervisory bodies and of the internal committees shall be obliged to inform the respective body or committee whenever there are any facts that may constitute or give rise to a conflict between their interests and the interest of the company. Adopted Section B-II, a) Topic 18 II.4.2. The company adopts procedures to ensure that the conflicted member does not interfere in the decision-making process, without prejudice to the duty to provide information and clarification requested by the body, committee or respective members. Adopted Section B-II, a) Topic 18 II.5. Transactions with Related Parties II.5.1. The management body discloses, in the corporate governance report or by other publicly available means, the internal procedure for verification of transactions with related parties. Adopted Section E-I, Topic 89 CHAPTER I I I · SHAREHOLDERS AND GENERAL MEETING III.1. III.1. The company does not set an excessively large number of shares to be entitled to one vote [III.1. (1)] and informs in the corporate governance report of its choice whenever each share does not carry one vote [III.1. (2)]. III.1. (1) Adopted/ III.1. (2) Not applicable Section B-I, b) Topics 12 and 13 III.2. The company that has issued special plural voting rights shares identifies, in its corporate governance report, the matters that, pursuant to the company’s Articles of Association, are excluded from the scope of plural voting. Not applicable Section B-I, b) Topic 12 III.3.
EDPR Individual Annual Report 2024 67 The company does not adopt mechanisms that hinder the passing of resolutions by its shareholders, specifically fixing a quorum for resolutions greater than that foreseen by law. Adopted Section B-I, b) Topic 14 III.4. The company implements adequate means for shareholders to participate in the general meeting without being present in person, in proportion to its size. Adopted Section B-I, b) Topic 13 III.5. The company also implements adequate means for the exercise of voting rights without being present in person, including by correspondence and electronically. Adopted Section B-I, b) Topic 13 III.6. The Articles of Association of the company that provide for the restriction of the number of votes that may be held or exercised by one single shareholder, either individually or jointly with other shareholders, shall also foresee that, at least every five years, the general meeting shall resolve on the amendment or maintenance of such statutory provision – without quorum requirements greater than that provided for by law – and that in said resolution, all votes issued are to be counted, without applying said restriction. Not applicable Section A-I, Topic 5 Section B-I, b) Topic 12 III.7. The company does not adopt any measures that require payments or the assumption of costs by the company in the event of change of control or change in the composition of the management body and which are likely to damage the economic interest in the transfer of shares and the free assessment by shareholders of the performance of the Directors. Adopted Section A-I, Topic 4 Section D - IV, Topic 80 Section D - V, Topics 83- 84 CHAPTER IV · MANAGEMENT IV.1. Management Body and Executive Directors IV.1.1. The management body ensures that the company acts in accordance with its object and does not delegate powers, notably with regard to: i) definition of the corporate strategy and main policies of the company [IV.1.1. (1)]; ii) organisation and coordination of the corporate structure [IV.1.1. (2)]; iii) matters that shall be considered strategic due to the amounts, risk and particular characteristics involved [IV.1.1. (3)]. Adopted Section A -II, Topic 9 IV.1.2. The management body approves, by means of regulations or through an equivalent mechanism, the performance regime for executive directors applicable to the exercise of executive functions by them in entities outside the group. Adopted Section B-II, b) Topic 26 IV.2. Management Body and Non-Executive Directors IV.2.1.
EDPR Individual Annual Report 2024 68 Notwithstanding the legal duties of the chairman of the board of directors, if the latter is not independent, the independent directors – or, if there are not enough independent directors, the non-executive directors – shall appoint a coordinator among themselves to, in particular (i) act, whenever necessary, as interlocutor with the chairman of the board of directors and with the other directors, (ii) ensure that they have all the conditions and means required to carry out their duties, and (iii) coordinate their performance assessment by the administration body as provided for in Recommendation VI.1.1.; alternatively, the company may establish another equivalent mechanism to ensure such coordination. Not applicable Section B-II, a) Topic 18 IV.2.2. The number of non-executive members of the management body shall be adequate to the size of the company and the complexity of the risks inherent to its activity, but sufficient to ensure the efficient performance of the tasks entrusted to them, whereby the formulation of this adequacy judgement shall be included in the corporate governance report. Adopted Section B-II, a) Topic 18 IV.2.3. The number of non-executive directors is greater than the number of executive directors. Adopted Section B-II, a) Topic 18 IV.2.4. The number of non-executive directors that meet the independence requirements is plural and is not less than one third of the total number of non- executive directors. For the purposes of the present Recommendation, a person is deemed independent when not associated to any specific interest group in the company, nor in any circumstances liable to affect his/her impartiality of analysis or decision, in particular in virtue of: i. Having carried out, continuously or intermittently, functions in any corporate body of the company for more than twelve years, with this period being counted regardless of whether or not it coincides with the end of the mandate. ii. Having been an employee of the company or of a company that is controlled by or in a group relationship with the company in the last three years. iii. Having, in the last three years, provided services or established a significant business relationship with the company or with a company that is controlled by or in a group relationship with the company, either directly or as a partner, director, manager or officer of a legal person. iv. Being the beneficiary of remuneration paid by the company or by a company that is controlled by or in a group relationship with the company, in addition to remuneration stemming from the performance of the functions of director. v. Living in a non-marital partnership or being a spouse, relative or kin in a direct line and up to and including the 3rd degree, in a collateral line, of directors of the company, of directors of a legal person owning a qualifying stake in the company or of natural persons owning, directly or indirectly, a qualifying stake. vi. Being a holder of a qualifying stake or representative of a shareholder that is holder of a qualifying stake. Explain Section B-II, a) Topic 18 IV.2.5.
EDPR Individual Annual Report 2024 69 The provisions of paragraph (i) of the previous Recommendation do not prevent the qualification of a new Director as independent if, between the end of his/her functions in any corporate body and his/her new appointment, at least three years have elapsed (cooling-off period). Not applicable CHAPTER V · SUPERVISION V.1. With due regard for the competences conferred to it by law, the supervisory body takes cognisance of the strategic guidelines [V.1. (1)] and evaluates and renders an opinion on the risk policy, prior to its final approval by the administration body [V.1. (2)]. Adopted Section A -II, Topic 9 and 29 Section C -III, Topic 54 V.2. The number of members of the supervisory body [V.2. (1)] and of the financial matters committee [V.2. (2)] should be adequate in relation to the size of the company and the complexity of the risks inherent to its activity, but sufficient to ensure the efficiency of the tasks entrusted to them, and this adequacy judgement should be included in the corporate governance report. V.2. (1) Adopted/ V.2. (2) Not applicable Section B-II, a) Topic 18 Section C -III, Topic 54 CHAPTER VI · PERFORMANCE ASSESSMENT, REMUNERATION AND APPOINTMENTS VI.1. Annual Performance Assessment VI.1.1. The management body – or committee with relevant powers, composed of a majority of non-executive members – evaluates its performance on an annual basis [VI.1.1. (1)], as well as the performance of the executive committee [VI.1.1. (2)], of the executive directors and of the company committees [VI.1.1. (3)], taking into account the compliance with the strategic plan of the company and of the budget, the risk management, its internal functioning and the contribution of each member to that end, and the relationship between the bodies and committees of the company. Adopted Section A -II, Topic 9 Section B-II b), Topic 24 Section D – I Topic 66 Section D – III, Topic 71 VI.2 Remunerations VI.2.1. The company constitutes a remuneration committee, whose composition shall ensure its independence from the board of directors, whereby it may be the remuneration committee appointed pursuant to Article 399 of the Portuguese Commercial Companies Code. Adopted Section B - II, c) Topic 27 Section B- II, c) Topic 29 Section D - I, Topic 66 VI.2.2. The remuneration of the members of the management and supervisory bodies and of the company committees is established by the remuneration committee or by the general meeting, upon proposal of such committee. Adopted Section D – I, Topic 66 Section D – III, Topic 69 VI.2.3. The company discloses in the corporate governance report, or in the remuneration report, the termination of office of any member of a body or committee of the company, indicating the amounts of all costs related to the termination of office borne by the company, for any reason, during the financial year in question. Adopted Section D -I, Topic 75
EDPR Individual Annual Report 2024 70 VI.2.4. In order to provide information or clarification to shareholders, the president or another member of the remuneration committee shall be present at the annual general meeting and at any other general meeting at which the agenda includes a matter related to the remuneration of the members of bodies and committees of the company, or if such presence has been requested by shareholders. Adopted Section B-I, a) Topic 11 Section B-II, a) Topic 29 VI.2.5. Within the budget constraints of the company, the remuneration committee may freely decide to hire, on behalf of the company, consultancy services that are necessary or convenient for the performance of its duties. Adopted Section D – II Topic 67 VI.2.6. The remuneration committee ensures that such services are provided independently. Adopted Section D – II Topic 67 VI.2.7. The providers of said services are not hired by the company itself or by any company controlled by or in group relationship with the company, for the provision of any other services related to the competencies of the remuneration committee, without the express authorisation of the committee. Adopted Section D – II Topic 67 VI.2.8. In view of the alignment of interests between the company and the executive directors, a part of their remuneration has a variable nature that reflects the sustained performance of the company and does not encourage excessive risk- taking. Adopted Section D – III, Topics 70 -72 VI.2.9. A significant part of the variable component is partially deferred over time, for a period of no less than three years, and is linked to the confirmation of the sustainability of performance, in terms defined in the remuneration policy of the company. Adopted Section D – III, Topic 72 VI.2.10. When the variable remuneration includes options or other instruments directly or indirectly subject to share value, the start of the exercise period is deferred for a period of no less than three years. Not applicable Section D – III, Topics 73 and 74 VI.2.11. The remuneration of non-executive directors does not include any component whose value depends on the performance of the company or of its value. Adopted Section D – III, Topic 69 Section D – IV, Topic 77 VI.3. Appointments VI.3.1. The company promotes, in the terms it deems adequate, but in a manner susceptible of demonstration, that the proposals for the appointment of members of the corporate bodies are accompanied by grounds regarding the suitability of each of the candidates for the function to be performed. Adopted Section B-II, a) Topics 16, 17 VI.3.2. The committee for the appointment of members of corporate bodies includes a majority of independent directors. Adopted Section B- II, c) Topic 29
EDPR Individual Annual Report 2024 71 VI.3.3. Unless it is not justified by the size of the company, the task of monitoring and supporting the appointments of senior managers shall be assigned to an appointment committee. Adopted Section B- II, c) Topic 29 VI.3.4. The committee for the appointment of senior management provides its terms of reference and promotes, to the extent of its powers, the adoption of transparent selection processes that include effective mechanisms for identifying potential candidates, and that for selection those are proposed who present the greatest merit, are best suited for the requirements of the position and promote, within the organisation, an adequate diversity including regarding gender equality. Adopted Section B-II, a) Topics 16, 17 CHAPTER VI I · INTERNAL CONTROL VII.1. The management body discusses and approves the strategic plan [VII.1. (1)] and risk policy of the company, which includes setting limits in matters of risk-taking [VII.1. (2)]. Adopted Section A -II, Topic 9 Section C) - III, Topic 52 VII.2. The company has a specialised committee, or a committee composed of specialists in risk matters, which reports regularly to the management body. Adopted Section C) –III, Topic 54 VII.3. The supervisory body is organised internally, implementing periodic control mechanisms and procedures, in order to ensure that the risks effectively incurred by the company are consistent with the objectives set by the administration body. Adopted Section B -III,b), Topic 35 Section C– III, Topic 52 VII.4. The internal control system, comprising the risk management, compliance, and internal audit functions, is structured in terms that are adequate to the size of the company and the complexity of the risks inherent to its activity, whereby the supervisory body shall assess it and, within the ambit of its duty to monitor the effectiveness of this system, propose any adjustments that may be deemed necessary. Adopted Section B- II, c) Topic 29 Section B- III, Topic 30 Section B -III, b), Topic 35 Section C– III, Topics 50-55 VII.5. The company establishes procedures of supervision, periodic assessment and adjustment of the internal control system, including an annual assessment of the degree of internal compliance and performance of such system, as well as the prospects for changing the previously defined risk framework. Adopted Section C) -III, Topics 52, 54, 55 VII.6. Based on its risk policy, the company sets up a risk management function, identifying (i) the main risks to which it is subject in the operation of its business [VII.6. (1)], (ii) the probability of their occurrence and respective impact [VII.6. (2)], (iii) the instruments and measures to be adopted in order to mitigate such risks [VII.6. (3)], and (iv) the monitoring procedures, aimed at following them up [VII.6. (4)]. Adopted Section C) – III, Topics 52 – 55 Chapter 2 of this Annual Report
EDPR Individual Annual Report 2024 72 VII.7. The company establishes processes to collect and process data related to the environmental and social sustainability in order to alert the management body to risks that the company may be incurring and propose strategies for their mitigation. Adopted Section B- II, c) Topic 29 VII.8. The company reports on how climate change is considered within the organisation and how it takes into account the analysis of climate risk in the decision-making processes. Adopted Section B- II, c) Topic 29 VII.9. The company informs in the corporate governance report on the manner in which artificial intelligence mechanisms have been used as a decision-making tool by the corporate bodies. Adopted Section B- II, Topic 23 VII.10. The supervisory body pronounces on the work plans and resources allocated to the services of the internal control system, including the risk management, compliance, and internal audit functions, and may propose adjustments as deemed necessary. Adopted Section B- II, Topic 29 Section B – III, b) Topic 35 VII.11. The supervisory body is the addressee of reports made by the internal control services, including the risk management, compliance, and internal audit functions, at least when matters related to accountability, identification or resolution of conflicts of interest and detection of potential irregularities are concerned. Adopted Section B- II, Topic 29 Section B – III, b) Topic 35 CHAPTER VIII · INFORMATION AND STATUTORY AUDIT OF ACCOUNTS VIII.1. Information VIII.1.1. The regulations of the supervisory body requires that the supervisory body monitors the suitability of the process of preparation and disclosure of information by the management body, including the appropriateness of accounting policies, estimates, judgements, relevant disclosures and their consistent application from financial year to financial year, in a duly documented and reported manner. Adopted Section B- II, Topic 29 Section B – III, b) Topic 35 VIII.2. Statutory Audit and Supervision VIII.2.1. By means of regulation, the supervisory body defines, in accordance with the applicable legal regime, the supervisory procedures to ensure the independence of the statutory auditor. Adopted Section B- II, c) Topic 29 Section B – III, c) Topics 37 and 38 Section B – IV-V, Topics 45, 46 and 47 VIII.2.2. The supervisory body is the main interlocutor of the statutory auditor within the company and the first addressee of the respective reports [VIII.2.2. (1)], and is competent, namely, for proposing the respective remuneration and ensuring that adequate conditions for the provision of the services are in place within the company [VIII.2.2. (2)]. Adopted Sections B – II, c) Topic 29 Section B – V, Topics 45, 46
EDPR Individual Annual Report 2024 73 VIII.2.3. The supervisory body annually evaluates the work carried out by the statutory auditor, its independence and suitability for the exercise of its functions and shall propose to the competent body its dismissal or termination of the contract for the provision of its services whenever there is just cause to do so. Adopted Section B – II, c) Topic 29 Section B – III a), Topic 30 Section B – III, c) Topics 37 and 38 Section B- IV- V, Topic 45
EDPR Individual Annual Report 2024 74 Annex I Curriculum Vitae of the Board of Directors EDP Renováveis, S.A. Full Name ANTÓNIO GOMES MOTA Position Chair of the Board of Directors - EDP Renováveis, S.A. (since 2021) Chair of the Appointments, Remunerations and Corporate Governance Committee - EDP Renováveis, S.A. Chair of the Ethics Committee – EDP Renováveis, S.A. Member of the Environmental, Social and Corporate Governance Committee - EDP Renováveis, S.A. Academic Qualifications • PhD in management – ISCTE, University Institute of Lisbon • MBA - Nova School of Business and Economics • Bachelor’s degree in management – ISCTE, University Institute of Lisbon Skills and Experience • Non-executive director and Chair of Nominations and Remuneration Committee - CIMPOR • Non-executive director as member of the Supervisory Board and Chair of the Audit Committee - EDP • Non-executive director as Chair of the Audit Committee and then as Chairman of the Board – CTT • Dean - ISCTE Business School • He has been a consultant for large corporations in the areas of corporate restructuring and valuation, regulation, corporate governance and remuneration policies • President – Portuguese Institute of Corporate Governance • He is the author of several books in the areas of corporate finance, investments and risk management and a regular invited speaker at professional and industry conferences Current External Appointments • Full Professor of finance - ISCTE Business School • Chair of the Audit Committee - MYSTICINVEST HOLDING • Chair of the Remuneration Committee - PHAROL, SGPS
EDPR Individual Annual Report 2024 75 Full Name MIGUEL STILWELL DE ANDRADE Position CEO – EDP, S.A. (since 2021) CEO – EDP Renováveis S.A. (since 2021) Academic Qualifications • MBA – MIT Sloan (2003) • MEng with Distinction – University of Strathclyde (1998) Skills and Experience • President of Board of Directors – EDP – Energias do Brasil, S.A (since 2023) • Member of Executive Board of Directors – EDP, S.A. (since 2012) • Vice-Chair of Board of Directors – EDP Renováveis S.A. (since 2021) • CFO – EDP – Energias de Portugal S.A. (2018-2021) • Member of Board of Directors – EDP – Energias do Brasil, S.A. (2018-2020) • CEO – EDP Comercial and EDP Soluções Comerciais S.A. (2012-2018) • CEO – Hidroeléctrica del Cantábrico (Spain) (2012-2018) • CEO – Naturgás Energia Grupo (2012-2015) • Member of Board of Directors – EDP Distribuição (2009-2012) • Member of Board of Directors – EDP Inovação, EDP Ventures (2007-2012) • Strategy, M&A and Corporate Development – EDP – Energias de Portugal S.A. (2000-2001 and 2003-2009) • UBS Investment Bank (1998-2000) Current External Appointments • Member of the Executive Committee and Vice-Chair – WBCSD • Member – Alliance of CEO Climate Leaders – World Economic Forum • Co-Chair – Hydrogen Producers Roundtable – European Clean Hydrogen Alliance (ECH2A) • Member – Business Roundtable Portugal • Member of the General Council –FAE – Forum de Administradores e Gestores de Empresas • Member of the Board of Governors – St. Julian’s School
EDPR Individual Annual Report 2024 76 Full Name RUI MANUEL RODRIGUES LOPES TEIXEIRA Position CFO – EDP, S.A. (since 2021) CFO – EDP Renováveis, S.A. (since 2021) Academic Qualifications • Advanced Management Programme – Harvard Business School (2013) • MBA – Nova University, Lisbon (2001) • Naval Architecture and Marine Engineering Graduate – Instituto Superior Técnico, Lisbon (1995) Skills and Experience • President of the Board of Directors – EDP Global Solutions - Gestão Integrada de Serviços, S.A. (since 2023) • Vice-President of the Board of Directors – EDP – Energias do Brasil, S.A (since 2024) • Member of the Board of Directors – EDP Renováveis, S.A. (2008-2015 and since 2019) • Chair of the Board of Directors – OW Offshore S.L.U. (since 2024) • Member of the Board of Directors – EDP - Energias do Brasil, S.A (2021-2024) • Member of the Board of Directors – EDP España, S.A.U. (since 2018) • Member of the Executive Board of Directors – EDP, S.A. (since 2015) • Vice-President of the Board of Directors – OW Offshore S.L.U. (2022-2024) • CEO – EDP España S.A.U. (2018-2021) • CEO – EDP - Gestão da Produção de Energia, S.A. (2015-2020) • CFO – EDP Renováveis, S.A. (2008-2015) • Head of Corporate Planning and Control – EDP (2004-2007) • Consultant – McKinsey & Company (2001-2004) • Ship Surveyor – Det Norske Veritas (1997-2001) • Sales – Gellweiler – Sociedade de Equipamentos Marítimos e Industriais, Lda. (1996-1997) Current External Appointments • Member of the Strategic Council – ISEG MBA • Vice-Chair of the Board – BCSD Portugal
EDPR Individual Annual Report 2024 77 Full Name MANUEL MENÉNDEZ Position Member of the Board of Directors – EDP Renováveis, S.A. (since 2008) Academic Qualifications • Executive Certification: Certificate for International Directors Programme – INSEAD, 2024 • Executive Certification: Certificate in Corporate Governance – INSEAD, 2024 • Professor of Financial Economics and Accounting – University of Oviedo, 1991 • PhD in Economics- University of Oviedo, 1985 (Cum Laude, Extraordinary Doctorate Award) Skills and Experience • Chairman – EDP Spain (May 2002 - Present) • Chairman – EDP Spain Foundation (December 2002 – Present) • Chief Executive Officer – Unicaja Banco, S.A. (August 2021 – September 2023) • Chairman – Caja de Ahorros de Asturias Bank Foundation (August 2014 - June 2016) • Chair and Chief Executive Officer – Liberbank, S.A. (May 2011 - August 2021) • Chairman and Chief Executive Officer – Bank of Castilla La Mancha (May 2011 - February 2013) • Chair and Chief Executive Officer – Asturias Savings Bank (May 1995 - April 2009) • Member of the Board of Trustees – FUNCAS (2013-2021) • Member of the Board of Directors – ENAGAS (2004-2012) • Member of the Board of Directors – CECABANK (2004-2012) • Chairman of the Board of Directors – NATURGAS (2003-2016) • Member of the Board of Directors – AELEC (2001-2022) • Member of the Board of Directors – CECA (2000-2021) • Chairman of the Board of Directors – ASTURGAR (1986-1995) Current External Appointments • Member of the Executive Committee and Board of Directors – CEOE (2024-present) • Member of the Board of Trustees – FUNSEAM (2024-present) • Member of the Board of Trustees – the Donostia International Physics Center (2012-present)
EDPR Individual Annual Report 2024 78 Full Name ROSA MARÍA GARCÍA Position Independent Member of the Board of Directors - EDP Renováveis, S.A. (since 2021) Member of the Audit, Control, and Related Party Transactions Committee - EDP Renováveis, S.A. Member of the Appointments, Remunerations Committee - EDP Renováveis, S.A. Chair of the Environmental, Social and Corporate Governance Committee - EDP Renováveis, S.A. Academic Qualifications • Bachelor’s degree in Mathematics - Universidad Autónoma de Madrid Skills and Experience • She has more than thirty years of international experience in the fields of Information Technology, Energy, Infrastructure, and Manufacturing. The majority of her career was spent at Microsoft and at Siemens • Director of Corporate Strategy - Microsoft working at the company's headquarters in Redmond United States (1996-1999) • General Manager - Microsoft Worldwide Partner Group. She directed Microsoft's worldwide strategy for more than 640,000 independently owned-and-operated partner companies (1999-2002) • Executive Chair - Microsoft in Spain (2002-2008) • Consumer & Online Vice-President - Microsoft Western Europe (2008- 2011) • Executive Chair - Siemens in Spain (2011-2018) • Non-Executive Chair - Siemens Gamesa immediately after the merger of Siemens Wind Power and Gamesa (2017-2018) • She has more than fifteen years of experience as a Non-Executive Director of the Board for several IBEX companies including Banesto, Bolsas y Mercados Españoles, Acerinox and Bankinter. In every company, she has been either a member of the audit and control committee or of the nominations and remuneration committee • Non-Profit work: Member of the Board at the Asociación para el Progreso de la Dirección (2002-2019). President of the German Chamber of Commerce in Spain (2016-2018). Member of the Advisory Board for the Universidad Europea de Madrid and Vice- president of Consejo Social de la Universidad Carlos III de Madrid (2008-2018) • Awarded by AED (the most prestigious Spanish CEO association) as “Spanish CEO of the Year” • Awarded by the President of Germany the Cross of Merit, one of the highest civilian honor that can be granted in the country Current External Appointments • Member of the Board - Mapfre and Sener • Non-Executive Chair - Exolum
EDPR Individual Annual Report 2024 79 Full Name JOSÉ MANUEL FÉLIX MORGADO Position Independent Member of the Board of Directors - EDP Renováveis S.A. (since 2021) Chair of the Audit, Control, and Related Party Transactions Committee - EDP Renováveis S.A. Member of the Appointments and Remunerations Committee - EDP Renováveis, S.A. Member of the Ethics Committee - EDP Renováveis, S.A. Academic Qualifications • IMD’s Driving Sustainability from the Board Certificate • Certification Corporate Governance at INSEAD in Fontainebleau • Postgraduate degree in Corporate Governance - Universidade de Lisboa – Law Department and the International Directors Programme – IDP • Degree in Business and Management - Universidade Católica Skills and Experience • Employed in the investment banking arm of Midland Bank and HSBC (1984) • Joined BCP Investimento in Lisbon as an investment banker and within Banco Comercial Português (1997-1999) • Member of the Board and Chief Financial Officer - Seguros e Pensões SGPS, and member of the board of the insurance companies of the group in Portugal and Mozambique as well as Chairman of the Board of Império Vida y Diversos, SA (2000-2005) • Vice President and Chief Financial Officer - ONI SGPS (2005-2007) • CEO - INAPA IPG SGPS (2007-2015) • Chairman - EUGROPA, European Paper Merchant Association in Brussels (2012-2015) • Board Member – REN - Redes Energéticas Nacionais SGPS (2011 – 2012) • Chairman of the Board - OZ Energia SA (2011-2015) • CEO - Banco Montepio (2015 – 2018) • Member of the Board - Associação Portuguesa de Bancos (2015 – 2018) Current External Appointments • Chairman of the Board – VERLINGUE - Corretores de Seguros, S.A. • Member of the Board - NORFIN – SGOIC • Corporate Governance adviser of family-owned groups
EDPR Individual Annual Report 2024 80 Full Name LAURIE FITCH Position Independent Member of the Board of Directors - EDP Renováveis S.A. (since 2024) Member of the Ethics Committee - EDP Renováveis, S.A. Member of the Environmental, Social and Corporate Governance Committee - EDP Renováveis, S.A. Academic Qualifications • Georgetown University, School of Foreign Service M.A. (with honors) (1992-1994) • American University, B.A., Arabic and Middle East Studies (1988-1992) Skills and Experience • Member of USA Business and Corporate Gov and Sustainability Committees – EDP, S.A. (2021-2024) • Partner - Strategic Advisory – PJT Partners (2016-2023) • Member of Strategy and Performance Committee - EDP, S.A. (2018-2021) • Member of Remuneration (Chair) and Risk Committees - Enquest PLC (2018-2021) • Managing Director, Co-Head Global Industrials Group - Morgan Stanley & Co (2012-2016) • Senior Analyst and Partner, International Growth - Artisan Partners LP (2006-2011) • Managing Director and Director of European Research - TIAA-CREF (2002-2006) • Associate Analyst- Equity Research - Schroder & Co./UBS (1999-2002) • VP, Middle East and Africa Division - The Bank of New York (1994-1999) • Trustee, Member of the Executive, Audit, and Finance Committees and Chair of Trusteeship Committee - The American University in Cairo (2019-prersent) • Co-opted Member - Tate Board of Trustees Finance & Operations and Audit committees (UK) (2015-present) • Chair, Board of Advisors - Center for Contemporary Arab Studies, Georgetown University (Washington, DC) (2015-present) • Member of the Aurora Energy Research Advisory Board (2018-present) Current External Appointments • Chair, Remuneration Committee and member of Nominations and Audit and Risk Committees - Man Group plc (2023-present) • Senior Advisor – PJT Partners (2024-present)
EDPR Individual Annual Report 2024 81 Full Name ANA PAULA DE SOUSA FREITAS MADUREIRA SERRA Position Independent Member of the Board of Directors - EDP Renováveis S.A. (since 2024) Member of the Audit, Control, and Related Party Transactions Committee - EDP Renováveis S.A. Member of the Environmental, Social and Corporate Governance Committee - EDP Renováveis, S.A. Academic Qualifications • PhD in Financial Economics – London Business School, UK (1999) • MBA – Porto Business School, Portugal (1990) • Degree in Economics – Faculty of Economics – Porto University, Portugal (1988) Skills and Experience • Professor of Corporate Finance and Financial Institutions – University of Porto, School of Economics and Management (1987- current) • Finance Professor and Program Director – Porto Business School (2005-current) • Researcher at the Economics and Finance Research Centre, CEF.UP – University of Porto (1999 - current) • Member non-Executive of the Supervisory Board – European Central Bank, Frankfurt (2019-2022) • Member non-Executive of the Board of Supervisors – European Banking Authority, Paris (2019-2022) • Member of the Board of Directors – Banco de Portugal (2017-2022) • Member of the Advisory Board – Agência de Gestão da Tesouraria e da Dívida Pública – IGCP, Portugal (2015-2017) • Vice-Dean – University of Porto, School of Economics and Management (2015-2017) • Member of the Audit Board – Banco de Portugal (2014-2017) • Member of the Audit Board – BPI Banco Português de Investimento (2012-2014) • Vice-Dean and Head of Executive Education and Post-Graduate Programs - Porto Business School (2009-2015) • Prime Representative at UNICON – The International Consortium for Executive Education - Porto Business School (2009-2015) • Director of the MSc in Finance – University of Porto, School of Economics and Management (2005-2007) • Director of the MSc in Management Sciences – University of Porto, School of Economics and Management (2004-2010) • Financial Analyst & Asset Manager – BPI Banco Português de Investimento (1988-1993) Current External Appointments • Chair of the Board of Directors of Sociedade Gestora dos Fundos de Pensões do Banco de Portugal (2024-current) • Member of the Audit Board of INESCTEC (2024-current)
EDPR Individual Annual Report 2024 82 Full Name GIOIA GHEZZI Position Independent Member of the Board of Directors - EDP Renováveis S.A. (since 2024) Member of the Environmental, Social and Corporate Governance Committee - EDP Renováveis, S.A. Academic Qualifications • Executive Master of Business Administration, Finance, London Business School, UK (1999-2000) • Degree in Theoretical Physics, University of Milan, Italy (1981-1989) Skills and Experience • Non-Executive Director and Finance and Risk Committee Member – SWISS RE - SWISS RE INTERNATIONAL, Luxemburg (2021-2023) • Non-Executive Director and Chair of Nominations Committee – ATLANTIA, Itay (2019-2022) • Non-Executive Director – CREDITO FONDIARIO, Italy (2018-2021) • Non-Executive Director – ASSONIME, Italy (2017-2021) • Non-Executive Director – GRUPPO INVESTIMENTI PORTUALI, Italy (2017-2020) • Non-Executive Director – THE TRILATERAL COMMISSION. Italy (2017-2019) • Chair – EIT - EUROPEAN INSTITUTE OF INNOVATION AND TECHNOLOGY, Hungary (2018-2022) • Chair – RGI GROUP, Italy (2018-2022) • Non-Executive Director – HUMANITAS, Italy (2017-2022) • Member, General Council – CONFINDUSTRIA, Italy (2016-2021) • Non-Executive Director – UNINDUSTRIA, Italy (2016-2017) • Chair – FERROVIE DELLO STATO ITALIANE, Italy (2015-2018) • Chair – ZURICH EUROLIFE (ZURICH GR.), Switzerland (2014-2016) • Non-Executive Director – FERROVIE DELLO STATO ITALIANE, Italy (2014-2015) • CEO, International Group Risk Solutions – ZURICH INSURANCE GROUP, Switzerland (2013-2016) • Group Chief Operating Officer – WILLIS GROUP, UK (2013-2013) • Partner, European Insurance & Healthcare Practices – MCKINSEY & COMPANY, UK (2007-2012) • Group Strategy Director – AVIVA, UK (2007-2007) • Associate Partner – MCKINSEY & COMPANY, UK (2004-2006) • Engagement Manager – MCKINSEY & COMPANY, UK (2000-2004) • Executive Editor, Head, International "Hard" Sciences – ACADEMIC PRESS, UK (1995-2000) • Systems Engineer, IBM Research Centre – IBM, Italy (1989-1995) Current External Appointments • Non-Executive Director – TERNIUM (TECHINT GR) (2020-present) • Chair – AZIENDA TRASPORTI MILANESI (ATM) (2020-present) • Non-Executive Director and Member of the Strategic Committee – SIRTI (2020-present) • Non-Executive Director – RAINBOW MAGICLAND (2018-present) • Non-Executive Director – GARDANT, Italy (2021- December 2024)
EDPR Individual Annual Report 2024 83 Full Name MARÍA GONZÁLEZ Position Company Secretary of the Board of Directors - EDP Renováveis, S.A. Head of Legal - EDP Renováveis, S.A. Academic Qualifications • Bachelor of Laws (LL.B.) and Bachelor Degree in Economics - Universidad Pontificia de Comillas (ICADE) • Executive Program - IE Business School • International Directors Program - INSEAD Skills and Experience • Between 1997 and 2000 she worked as Corporate Lawyer at the Madrid office of Squire, Sanders & Dempsey LLP (American law firm) • Between 2000 and 2008 she worked as Senior Lawyer at Duro Felguera, S.A. (Spanish EPC contractor, listed at the Spanish Stock Exchange) being responsible for its international legal area • Joined EDPR in 2008 and has since then worked at the General Secretary area, serving from 2019 as Vice-Secretary of the Board of Directors and Board Committees • Member and/or Secretary of several Boards of Directors of EDPR’s subsidiaries • Executive Director - EDPR Legal Department, in charge of the Legal Business Development area which manages Procurement, Finance and Energy Management legal activities of EDPR in all its geographies Current External Appointments -
EDPR Individual Annual Report 2024 85 5.1. Remuneration Report In compliance with both the Portuguese Securities Code, and the Spanish Companies Act, EDP Renováveis S.A. ("EDPR" or "Company") issues this Remuneration Report with the aim to provide a comprehensive view of the remuneration received by the members of its governing bodies, including all benefits, regardless of their form, attributed or due during the 2024 financial year. The update of the 2023-2025 Remuneration Policy of EDPR was approved by the General Shareholders’ Meeting held on 4 April 2024, following the proposal presented by its Appointments and Remunerations Committee to its Board of Directors. EDPR is a Spanish Company listed in a regulated stock exchange in Portugal. The corporate organization of EDPR is subject to its personal law and to the extent possible, to the recommendations contained in the Corporate Governance Code of the Instituto Português de Corporate Governance (“IPCG”). As such, the Company intends to comply with both legal systems but always taking into account that its personal law is the Spanish one, and that in case of discrepancy, the aim is to adopt the law that entails more protectionism for its shareholders. The Remuneration Policy in force during 2024 (duly approved by its General Shareholders’ Meeting) complies comply with Article 26 – C of the Securities Code (as amended by Law No. 99 A/2021 of 31 st December), with article 529 novodecies of the Spanish Companies Act, with the IPCG Corporate Governance Code adopted by EDPR and with the international good practices, being aligned and consistent with the remuneration policy and remuneration practices applied to all employees of the Group. Total remuneration, and the remuneration model in general, should be competitive, aligned with the practices of the international electricity sector and the renewables market, facilitating the attraction and retention of talent, and the commitment to the challenges and ambitions of the company. Approval procedure of the Remunerations Policy of the Board of Directors The definition of the proposal of the Remuneration Policy for the members of the Board of Directors of EDPR is incumbent on the Appointments and Remunerations Committee, delegated body of the Board of Directors, that in order to avoid any conflict of interest, is entirely composed by non- executive and independent members. This Committee proposes to the Board of Directors the determination of the remuneration of the Executive Directors; the Remuneration Policy, the evaluation and compliance of the KPI’s (Key Performance Indicators); the annual and multi annual variable remuneration, and also proposes the remuneration of the Non-Executive Directors and members of the Board Committees. As such, this Committee prepares a proposal that defines the remuneration to be attributed to Directors, with the purpose that it reflects the performance of each of them, establishing for the Executive Directors a variable component which is consistent with the maximization of the Company's long term performance (variable annual and multi-annual remuneration for a three-year period), for the achievement of the most challenging objectives of the business plan, thereby guaranteeing the alignment of the performance of the governing bodies with the interests of the shareholders. The Board of Directors is responsible for the approval of the above-mentioned proposals except to the extent it concerns the Remuneration Policy which is approved by the General Shareholders’ Meeting as an independent item of the agenda. As a Company integrated in a multinational business group, EDPR aims to maintain a solid culture that ensures the management, monitoring, control and supervision of the risks that the Group, its shareholders, employees, customers and, in general, all its stakeholders face, including those arising from the remuneration systems it adopts. EDPR adopts the transversal remuneration practices applied in EDP group, consistent and based on common principles that comply with the regulations applicable in the jurisdictions where it operates. As such, the remuneration systems applied, including those applicable to the Executive Directors, are defined to promote a culture of merit and high performance that ensures that people and teams are recognized, encouraged and awarded on the basis of responsibility, availability, loyalty and competence placed at Group’s service, ensuring actions aligned with the long-term interests of shareholders and promoting sustainable initiatives. The proposal for remuneration policy of the Executive Directors also aimed at simplifying, and provide transparency and clarity, favouring a complete understanding of the framework of principles and rules that constitute it, and which will be applied and evaluated by the Appointments and Remunerations Committee.
EDPR Individual Annual Report 2024 86 Definition, revision and renewal of the Policy The definition of the Remuneration Policy of EDPR is submitted for approval by the General Shareholders’ Meeting, on a proposal from the Board of Directors, based on the proposal presented by the Appointments and Remunerations Committee. Likewise, and in line with EDP Group corporate governance practices, EDPR has signed a Management Services Agreement with EDP under which the Company bears the cost for such services to two executive members of the Board of Directors to the extent their services are devoted to EDPR; and the Audit, Control and Related Party Transactions Committee (entirely composed by non-executive and independent members) reviews and monitors the proposed changes to this agreement. The definition and possible proposals for revision of the Remuneration Policy by the Appointments and Remunerations Committee are based on the articulation of EDPR long-term objectives, measured according to its strategic plan at all times, in the conclusions of comparative remuneration studies with national listed companies and with foreign sectoral peers and on an articulation of principles with the remuneration plan of other employees of the Group. The Appointments and Remunerations Committee may hire the external consultants and support necessary for the performance of comparative remuneration studies within the framework of directors' remuneration policies, assessing their conditions of independence for the provision of the services that may be requested. Upon the proposal of the Appointments and Remunerations Committee, the Board of Directors may decide that the executive directors receive directly from EDPR the entirety or part of the remuneration that is currently being paid to EDP as a management fee, with the corresponding reduction, in such cases, of the corresponding amount, and without this implying, in any case, a modification of the amounts provided for in the Remuneration Policy for such executive functions. Remuneration structure and disclosure Pursuant to Article 26 of the Company’s Articles of Association the Directors shall be entitled to a remuneration which consists of a fixed amount to be determined annually by the General Shareholders’ Meeting for the whole Board of Directors. This provision also establishes the possibility of the Directors of receiving attendance fees or being remunerated with Company shares, share options, or other securities granting the right to obtain shares or by means of share-indexed remuneration systems. In any case, the system chosen must be approved by the General Shareholders’ Meeting and comply with current legal provisions. The remuneration policy applicable for 2024 defines a structure with a fixed remuneration for all members of the Board of Directors, and for the Executive Directors also defines a variable remuneration, with an annual component, and a multi-annual component. The Non-Executive Directors only receive a fixed remuneration, which is calculated on the basis of their work exclusively as Directors or, if such is the case, considering their membership/chairmanship of the Appointments and Remunerations Committee, the Audit, Control and Related Party Transactions Committee and the Environmental, Social and Corporate Governance Committee. Except in the case of the Chair of the Board of Directors, the directors that are also members/chair of the Delegated Committees receive for these functions a complement to their fixed remuneration as members of the Board As already indicated, EDPR has signed a Management Services Agreement with EDP, under which the Company bears the cost for such services to executive directors of the members of the Board of Directors to the extent their services are devoted to EDPR. In 2024 these Directors were Miguel Stilwell de Andrade and Rui Teixeira (Executive Directors). Under the terms of the Remuneration Polity in force, the maximum annual amount for fix and variable remuneration for the Board of Directors has been set in EUR 3,500,000. Remuneration of EDPR Directors for their functions as Members of the Board This section includes the information regarding the remuneration received by EDPR Board members in 2024 for their functions at the Board of Directors. Fixed component – base remuneration Conditions The fixed remuneration of the members of the Board of Directors is aligned with the base salary strategy practiced by a number of companies comparable to EDPR, the national market and the international electricity sector; in terms of size, market capitalization, risk profile, relevance and geographical implementation, while also considering, at all times, the complexity of the functions performed, the remuneration conditions of its employees and the non-increase of the average market pay gap between workers and administrators.
EDPR Individual Annual Report 2024 87 The amounts corresponding to the fixed annual component are shown below: FIXED ANNUAL COMPONENT – GROSS VALUES Position Remuneration Management Fee paid by EDPR to EDP under Management Services Agreement Chair of the Board € 265,000 - Chief Executive Officer (CEO) - € 550,000 Chief Financial Officer (CFO) - € 360,000 Non-Executive Independent or External Directors € 75,000 - The Non-Executive Directors only receive a fixed remuneration, which is calculated on the basis of their work as Directors and if such is the case, a complement as Member or Chair of the Appointments and Remunerations Committee, the Audit, Control and Related Party Transactions Committee and/or the Environmental, Social and Corporate Governance Committee, as set below: ANNUAL SUPPLEMENT FOR COMMITTEES – GROSS VALUES Audit, Control and Related Party Transactions Committee Appointments and Remunerations Committee Environmental, Social and Corporate Governance Committee Chair + € 65,000 + € 25,000 + € 25,000 € Member + € 30,000 + € 20,000 € + € 20,000 € These amounts are cumulative, except for the Chair of the Board of Directors who does not receive any complement derived from his role at any Committee. Figures 2024 The following table contains EDPR's Directors in 2024, as well as the amounts paid by EDPR either as (i) remuneration paid to them, including the amounts received as a result of belonging to a certain committee, or (ii) as a fee to EDP, under the terms of the Management Services Agreement, for the respective services (which do not constitute remuneration), for the respective functions performed at the Board of Directors level: FIXED COMPONENT - GROSS VALUES DIRECTORS REMUNERATION FEES MANAGEMENT SERVICES AGREEMENT EDP-EDPR (1) EXECUTIVE DIRECTORS Miguel Stilwell de Andrade - 550,000€ Rui Teixeira - 360,000€ NON-EXECUTIVE DIRECTORS António Gomes Mota 256,250€ - Vera Pinto Pereira - 16,250€ Ana Paula Marques - 16,250€ Manuel Menéndez Menéndez 72,500€ - Acácio Piloto ( 2 ) 30,000€ - Allan J. Katz ( 2 ) 50,417€ - Rosa María García García ( 2 ) 140,000€ - José Manuel Félix Morgado ( 2 ) 147,500€ - Cynthia Kay Mc Call ( 2 ) 34,583€ - Ana Paula Serra 93,750€ - Laurie Fitch 61,546€ - Gioia Ghezzi 39,583€ - Sub- Total 926,129€ 942,500€ Total 1,868,629€ (1) These amounts correspond to the service fee paid by EDPR to EDP under the Management Services Agreement, for the services provided in 2024 by the Directors in question. EDPR pays 5% for this service fee, which is applied to the Executive Directors’ retirement savings plan included in this Report. (2) These Directors also received remuneration for their participation in the Delegated Committees, as subsequently disclosed. Members of the Board of Directors in office on December 31 st , 2024.
EDPR Individual Annual Report 2024 88 These amounts correspond to the service fee paid by EDPR to EDP under the terms of the Management Services Agreement, for the services provided in 2024 by the director in question. EDPR also pays 5% of this service fee, which is applied to the Executive Directors' retirement savings plan. In line with Spanish Law and as specifically foreseen in Article 10 of the Company’s Articles of Association, the Board of Directors of EDPR is entitled to create delegated bodies. The Board of Directors of EDPR has set up three committees that are composed exclusively by non-executive and independent members: Audit, Control and Related-Party Transactions Committee Appointments and Remunerations Committee Environmental, Social and Corporate Governance Committee Except in the case of the Chair of the Board of Directors, the directors that are also members/chair of the Delegated Committees receive for these functions a complement to their fixed remuneration as members of the Board of Directors. Figures 2024 – Audit, Control and Related Party Transactions Committee The below table lists the members of the Audit, Control and Related Party Transactions Committee as of 31 December 2024, as well as the amounts paid by EDPR as remuneration to the functions performed in this body in 2024: Until 4 April 2024: COMMITTEE MEMBERS POSITION REMUNERATION - GROSS VALUES Acácio Piloto Chair 13,750€ Rosa García García Member 6,250 € José Félix Morgado Member 6,250 € From 4 April 2024: COMMITTEE MEMBERS POSITION REMUNERATION - GROSS VALUES José Félix Morgado Chair 48,750€ Rosa García García Member 22,500€ Ana Paula Serra Member 22,500€ Figures 2024 – Appointments and Remunerations Committee The following table contains the list of the members of the Appointments and Remunerations Committee as on 31 December 2024, as well as the amounts paid by EDPR as remuneration for the functions performed in this body in 2024. As indicated at the beginning of this section, the Chair of this Committee, António Gomes Mota, does not receive a supplement to his remuneration as Chair of the Board for the functions performed on this Committee: Until 4 April 2024: COMMITTEE MEMBERS POSITION REMUNERATION - GROSS VALUES António Gomes Mota (*) Chair 0 Rosa García García Member 2,500 € José Félix Morgado Member 2,500 € (*) The Chair of the Board of Directors does not receive any complement derived from his role at any Committee. From 4 April 2024: COMMITTEE MEMBERS POSITION REMUNERATION - GROSS VALUES António Gomes Mota (*) Chair 0 Rosa García García Member 15,000€ José Félix Morgado Member 15,000€ (*) The Chair of the Board of Directors does not receive any complement derived from his role at any Committee.
EDPR Individual Annual Report 2024 89 Figures 2024 – Environmental, Social and Corporate Governance Committee The below table lists the members of the Environmental, Social and Corporate Governance Committee as on 31 December 2024, as well as the amounts paid by EDPR as remuneration to them for the functions performed at this body in 2024. Until 4 April 2024: COMMITTEE MEMBERS POSITION REMUNERATION - GROSS VALUES António Gomes Mota (*) Chair 0 Rosa García García Member 2,500 € José Félix Morgado Member 2,500 € Allan J. Katz Member 2,500 € Cynthia Kay Mc Call Member 2,500 € (*) The Chair of the Board of Directors does not receive any complement derived from his role at any Committee. From 4 April 2024: COMMITTEE MEMBERS POSITION REMUNERATION - GROSS VALUES Rosa García García Chair 18,750€ António Gomes Mota Member - Cynthia Kay Mc Call ( 1 ) Member 3,333€ Laurie Fitch ( 2 ) Member 13,333€ Allan J. Katz ( 3 ) Member 6,667€ Gioia Ghezzi ( 4 ) Member 8,333€ Ana Paula Serra Member 15,000€ (1) As announced to the market on 8 May 2024, Kay Mc Call resigned from her position. (2) As announced to the market on 8 May 2024, EDPR's Board of Directors approved the appointment by co-option on that date. (3) As announced to the market on 25 July 2024, Allan J. Katz resigned from his position. (4) As announced to the market on 25 July 2024, EDPR's Board of Directors approved the appointment by co-option on that date.
EDPR Individual Annual Report 2024 90 Variable component Conditions The annual and multi-annual variable remuneration applies only to Executive Directors. The payment of the variable remuneration is conditional on the Executive Director remaining with EDPR until the end of the relevant annual or three-year performance period, without prejudice to the provisions of the remuneration policy. The variable remuneration will be a percentage of the fixed annual component, with a weighting that varies between 0% and 80% for the annual component and between 0% and 145% for the multi- annual component, applying to the fixed annual component of the CEO and CFO. The key performance indicators (KPIs) used to determine the amounts of the annual and multi – annual variable remuneration for each year of the term is proposed by the Appointments, and Remunerations Committee with the aim of aligning them with the EDPR’s Business Plan. The policy took into account the working conditions and remuneration of the company's employees when determining its terms, and a KPI relating to people and the organisation was specifically established, under which, among other things, the results of employee climate surveys are collected, reflecting their level of satisfaction with performance and the conditions applied. The indicators thus defined apply to the years covered by the policy, without prejudice to any adjustments that may be proposed by the Appointments and Remunerations Committee for each year (KPI Targets): In the assessment of annual and multi-annual performance and in the determination of the value of the cumulative variable component, the Appointments and Remuneration Committee may take into account exceptional circumstances where a KPI cannot be met as a result of political or administrative decisions beyond the control of the Executive Directors, that have an impact on EDPR's performance and on the level of achievement of EDPR's objectives, neutralise their impact on the annual and multi-annual performance metrics, provided that they ensure that, in the event that the political or administrative decisions in question are reversed by administrative, judicial or arbitration means, those Directors will not benefit from the effects of that reversal decision either. Likewise, the Appointments and Remunerations Committee may take into account other exceptional conjunctural and exogenous circumstances faced by EDPR that have an impact on the Company's performance and on the level of fulfilment of the objectives set for the Executive Directors, adjusting or adopting in a reasoned manner appropriate solutions to neutralise, in relation to EDPR or the Executive Directors, as the case may be, in whole or in part, the impact of such consequences on the annual and multi-annual performance metrics. Annual variable remuneration: The annual variable remuneration has the nature of incentive/performance premium linked to financial and non-financial objectives (linked to the Business Plan and budget) of short-term, evaluated annually, reflecting in the year under analysis and possible repercussion in the following years, being paid in cash. The amount of the annual performance premium shall be determined within three months of the approval of EDPR's accounts at the ordinary General Shareholders’ Meeting in each year, by reference to the previous year/annual performance period. The maximum annual variable component may not exceed 80% of the annual management fee applicable for the financial year to which it relates, calculated and payable after approval of the accounts for the financial year to which it relates, and allocated in accordance with the following parameters, calculated on a linear basis: If performance reaches less than 85% of the objectives set, no annual variable component will be awarded; If performance is between 85% and 95% of the target, an amount of between 10% and 25% of each Executive Director's reference annual management fee will be accrued; If performance is between 95% and 100% of the target, an amount of between 25% and 52.5% of each Executive Director's annual management fee will be accrued; If performance is between 100% and 110% of the target, an amount between 52.5% and 80% of each Executive Director's reference annual management fee will be accrued; If the performance achieved exceeds 110% of the objectives, an amount corresponding to 80% of the reference annual management fee of each of the Executive Directors will be added. The payment of the annual variable component is partially deferred by 30% of its value for a period of 2 years, with the payment of this deferral being made in 50% each year, with EDPR reserving, through the Appointments and Remuneration Committee, the possibility of not applying this deferral when the value of the deferral does not exceed 20% of the annual management fee. The key indicators and their weighting for the annual variable remuneration would be as follows:
EDPR Individual Annual Report 2024 91 Quantitative: 90% Growth: Recurring earnings per share (25%). Shareholder remuneration: Total shareholder return vs Eurostoxx Utilities and S&P Clean Energy (25%). Balance sheet strength: FFO/net debt (10%). Operational efficiency: Adjusted Core OPEX/MW (10%). ESG (20%): Performance in the Dow Jones Sustainability Index (10%), Total Frequency Rate (5%), Climate Survey Results (5%). Qualitative: 10% (assessment carried out by the Appointments and Remunerations Committee) Execution of the activity plan during the year (2.5%) Team management (2.5%) Teamwork (2.5%) Stakeholder management (2.5%) Multi-annual variable remuneration: The multi-annual variable remuneration is calculated and approved within three months of the approval of the accounts for the last financial year of the three-year period to which it refers. The payment of two thirds (2/3) of the multi-annual variable component is deferred and paid in two equal and successive annual instalments, ensuring that the multi-annual variable remuneration is paid in the third year following each year of performance of the respective multi-annual plan, in the first year and in the second two years, respectively, after the Annual General Meeting at which the accounts for the last year of the respective remuneration plan are finalised. The maximum multi-annual variable component must not exceed 145% of the total fixed component for the multi-annual performance reference period and must be allocated according to the following parameters, calculated on a linear basis: If performance reaches less than 85% of the objectives set, no multi-annual variable component will be awarded; If performance is between 85% and 95% of the target, an amount of between 15% and 40% of each Executive Director's fixed annual management fee will be accrued; If performance is between 95% and 100% of the target, an amount of between 40% and 97.5% of each Executive Director's fixed annual management fee will be accrued; If performance is between 100% and 110% of the target, an amount of between 97.5% and 145% of each Executive Director's fixed annual management fee will be accrued; If the performance achieved exceeds 110% of the objectives, an amount corresponding to 145% of the fixed annual management fee of each of the Executive Directors will be added. The key indicators and their weighting for the multi-annual variable remuneration would be as follows: Quantitative: 90% Growth: Earnings per share cumulative recurring (25%). Shareholder remuneration: Total shareholder return vs Eurostoxx Utilities and S&P Clean Energy (40%). ESG (25%): Total MW of renewable energy built (20%), Performance in the Bloomberg Gender Equality Index (5%). Qualitative: 10% (assessment carried out by the Appointments and Remuneration Committee) Strategy and implementation (2.5%) Employee development (2.5%) Teamwork and new ways of working (2.5%) Stakeholder management (2.5%) The assessment of compliance with the indicators is carried out by EDPR's Appointments and Remuneration Committee, which in turn submits it to the Board of Directors for approval. Figures 2024
EDPR Individual Annual Report 2024 92 The variable remuneration only applies to Executive Directors, and the evaluation of compliance with the indicators and related level of performance is appraised by the Appointments and Remunerations Committee, which in turn submits it to the Board of Directors for approval. Variable Annual Remuneration On 31 December 2024, the Executive Directors of EDPR were Miguel Stilwell de Andrade and Rui Teixeira. As a result of the analysis of their performance, the following amounts were paid in 2024 by EDPR to EDP as management fee, for the variable annual component amounts accrued for their services provided in 2024: ANNUAL VARIABLE COMPONENT - GROSS VALUES MANAGEMENT FEES EXECUTIVE DIRECTORS Miguel Stilwell de Andrade 125,940 € Rui Teixeira 82,433 € Total 208,373 €
EDPR Individual Annual Report 2024 93 Variable Multiannual Remuneration WEIGHT EDPR RESULT VARIABLE ANNUAL REMUNERATION Quantitative 90% Growth: Recurring earnings per share 25.00% 96.53% Shareholder remuneration: Total shareholder return vs Eurostoxx Utilities and S&P Clean Energy 25.00% 77.50% Balance sheet strength: FFO/net debt 10.00% 78.96% Operational Efficiency: Core OPEX/MW Adjusted 10.00% 98.31% ESG: Dow Jones Sustainability Index Performance 10.00% 106.97% ESG: Total Frequency Rate 5.00% 86.74% ESG: Climate survey results 5.00% 106.65% 10% Qualitative - Appointments and Remuneration Committee 120% VARIABLE MULTIANNUAL REMUNERATION Quantitative 90% Growth: Earnings per share cumulative recurring 25,00% 96,53% Shareholder remuneration: Total shareholder return vs Eurostoxx Utilities and S&P Clean Energy 40.00% 71.91% ESG: Total MW of Renewable Energy Built 20.00% 92.55% ESG: Performance in the Bloomberg Gender Equality Index 5.00% 120.00% 10% Qualitative - Appointments and Remuneration Committee 120.00% Non-Monetary Benefits No non-monetary benefits are paid by EDPR to its Board Members, with exception of a company car allocated to the Chair of the Board of Directors and the retirement savings plan for Executive Directors mentioned in the following section. No non-monetary benefits were paid to Directors who have resigned from their positions during the current year. Retirement Savings Plan Within the scope of the remuneration policy in force, defined and proposed by the Appointments and Remunerations Committee to the Board of Directors for its submission to the General Shareholder’s Meeting, the Directors do not have a complementary pension plan paid by EDPR, and there are no non-cash benefits as part of the remuneration of the Board of Directors, except: (i) the payment that EDPR makes to EDP under the Management Services Agreement, corresponding to the Executive Directors' pension plan in the range between 3% and 6% of the fixed annual management fee, and (ii) the company car to which the Chair of the Board of Directors is entitled. For the Executive Directors of EDPR (Miguel Stilwell d’ Andrade and Rui Teixeira) it was stablished in a 5% of the fixed fee under the Management Services Agreement. For the year 2024, EDPR paid a fee to EDP under the Management Services agreement of 27,500€ corresponding to the retirement saving plan of Miguel Stilwell d’ Andrade, and of 18,000€ corresponding to the retirement saving plan Rui Teixeira.
EDPR Individual Annual Report 2024 94 Alignment of the application of the remuneration with the Remuneration Policy adopted. Contribution of the Remuneration Policy to the long-term performance of the Company and criteria taken into account. In 2024, the Board of Directors Remuneration Policy in place for this term was duly applied. As a summary of all the above breakdowns detailed, it is hereby provided a summary table including the total amounts paid by EDPR in 2024 either (i) as remuneration to them for Director functions at the Board level and Delegated Committees or (ii) as fee to EDP under the Management Services Agreement for their services (not remuneration): REMUNERATION FEES EXECUTIVE DIRECTORS FIXED ANNUAL VARIABLE MULTIANNUAL VARIABLE (*) RSP Miguel Stilwell de Andrade - 550,000€ 125,940€ 143,076€ 27,500€ Rui Teixeira - 360,000€ 82,433€ 93,650€ 18,000€ NON-EXECUTIVE DIRECTORS António Gomes Mota 256,250€ - - - - Vera Pinto Pereira - 16,250€ - - - Ana Paula Marques - 16,250€ - - - Manuel Menéndez Menéndez 72,500€ - - - - Acácio Piloto 30,000€ - - - - Allan J. Katz 50,418€ - - - - Rosa García García 140,000€ - - - - José Félix Morgado 147,500€ - - - - Cynthia Kay Mc Call 34,583€ - - - - Ana Paula Serra 93,750€ - - - - Laurie Lee Fitch 61,546€ - - - - Gioia Ghezzi 39,583€ - - - - Sub- Total 1 926,129€ 942,500€ 208,373€ 236,726€ 45,500€ Sub- Total 2 926,129€ 1,433,099€ Total 2,359,228€ Gross amounts (*) The multiannual variable remuneration takes into consideration the previous year(s) as per the relevant remuneration policy in force. The total amount paid by EDPR in 2024 either (i) as remuneration and (ii) as fee to EDP under the Management Services Agreement, for the services performed by its Directors as members of its Board (including the retirement savings plan) was of 1,433,099€, which is below the maximum amount agreed by the General Shareholders’ Meeting for 2022 and subsequent years (2,500,000€). Likewise, the total amounts that were paid as fee to EDP under the Management Services Agreement for the variable remuneration paid to the Executive Directors in 2024 was of 445,099€ which is also aligned with the maximum amount agreed by the General Shareholders’ Meeting for these purposes (1,000,000€). The remuneration policy in force includes key elements to enhance a Company’s management performance not only focused on short-term objectives, but also incorporate as part of its results the interests of the Company and of shareholders in the medium and long term. These elements are: (i) the definition of the indicators in accordance with the 6 clusters, (ii) the relative weight assigned to each KPIs to calculate annual and multiannual variable remuneration (iii) the relevance associated with the achievement of such KPIs (iv) the three-year term considered for determining the value of variable multi-annual component of the remuneration (v) the deferral in three years for the payment of the variable multi-annual as recommended by CMVM as a good corporate governance practices, as well as conditioning its payment to the fact of there has not been unlawful actions known after the performance evaluated that may jeopardize the sustainability of the company’s performance, (vi) the use of the qualitative criteria focused on a strategic and medium term perspective of the development of the Company, and (vii) the existence of a maximum limit for the variable remuneration.
EDPR Individual Annual Report 2024 95 Total shareholder return Average employees’ remuneration (€) - gross amounts per month Note: Exchange rate at constant values (average from 2015 to 2017) 3.72 EUR/BRL, applied to the period from 2019 to 2023. Remuneration from other Group Companies On 31 December 2024, and for the respective activity carried out at EDPR, the members of the Board of Directors have not received any payments from any company under EDPR control or subject to EDPR common control.
EDPR Individual Annual Report 2024 96 Share-allocation and/or Stock Option Plans EDPR does not have Share-Allocation and/or Stock Option Plans. Deferral and reimbursement of variable remuneration, severance pay and early termination of service In accordance with corporate governance practices, the Remuneration Policy includes the deferral, for a three year period, of the multiannual variable remuneration, the payment of which is conditional on the absence of any malicious wrongdoing, known after the assessment and which jeopardises the sustainability of the company’s performance, and which is subject of a claim for compensation to EDPR, submitted by shareholders or third parties. If the above is confirmed, the variable remuneration paid during the period in which the facts occurred, accrued or pending award, will be reimbursed, withheld or not awarded to compensate for the damage caused up to its total amount. It is also established in this policy that no amount will be paid to Directors as compensation for leaving office before the end of the term for which they were appointed, and that Executive Directors will not sign contracts, either with EDPR or with third parties, which have the effect of mitigating the risk inherent in the variability of the remuneration set by EDPR. Considering the terms of the law and market practice on the remuneration of Executive Directors in the event of early termination of office, the following is indicated: a. In the event of termination of office for reasons not attributable to the Executive Director, he or she shall be entitled to receive the full fixed component until the end of the term of office for which he or she was elected and the variable component accrued up to the date of termination of office, but shall lose the right to receive any other benefits inherent to the effective exercise of office for annual or multi-annual performance periods not fully complied with. b. In the event of resignation not resulting from an early termination agreement with EDPR, the Executive Director shall be entitled to receive only the fixed and variable remuneration accrued up to the date of resignation, the payment of which shall be made under the same terms and conditions as for Executive Directors in office. c. In the event of termination of office by agreement with EDPR, whereby the Executive Director agrees to resign, the Executive Director shall be entitled to receive the amount agreed at that time, which shall not exceed (i) the amount of the fixed component until the end of the term of office, plus (ii) the entire variable component for the annual or multi-annual period to be paid after determination at the end of the relevant period, as if the Executive Director had remained in office. In accordance with market practice, a non-compete agreement may be signed with an outgoing Executive Director, regardless of the cause of the termination or, within the scope of the termination agreement, an obligation not to compete with EDPR may be established for a certain period of time, including, where appropriate, the payment of compensation. Compliance with the applicable Policy during 2024 The remuneration policy in force at any given time during 2024 was applied without exceptions. Other remunerations Remuneration of the Chair of the General Shareholders’ Meeting The Board of the General Shareholders’ Meeting is chaired by the Chair of the Board of Directors (António Gomes Mota), and there is no additional remuneration for his duties. Remuneration of the External Auditor in 2024 for services provided to EDP Renováveis S.A. and subsidiaries According to the Spanish law, the External Auditor (“Auditor de Cuentas”) is appointed by the General Shareholders’ Meeting and corresponds to the External Auditor body (“Revisor Oficial de Contas”) described on the Portuguese Law. As a result of a competitive process launched in 2017, and following the proposal of the Audit, Control and Related Party Transactions Committee to the Board of Directors, PricewaterhouseCoopers Auditores, S.L. was appointed as EDPR SA External Auditor by the General Shareholders’ Meeting held on April 3rd, 2018. PricewaterhouseCoopers Auditores, S.L., is a Spanish Company registered at the Spanish Official Register of Auditors under number S0242 with Tax Identification Number B-79031290. The renewal of PricewaterhouseCoopers Auditores, S.L. as External Auditor of EDPR SA for years 2021, 2022 and 2023 was approved by EDPR’s General Shareholders’ Meeting on April 12th, 2021, and the current audit partner in charge of EDPR is Antonio Velasco Dañobeitia.
EDPR Individual Annual Report 2024 97 At the General Shareholders’ Meeting held on April 4 th , 2024, PricewaterhouseCoopers Auditores, S.L. Statutory Auditor registered in the Spanish Official Register of Auditors under number S0242, with tax identification number B-79031290 was re-elected as External Auditor for the three-year period 2024-2026. PricewaterhouseCoopers Auditores, S.L. is currently represented by Antonio Velasco Dañobeitia. In July 2022, EDPR approved an internal regulation to rule the provision of services and relationship with the External Auditor, with regards to both audit and non-audit services to be hired, and the reporting and approval procedure to be applied. These regulations also establish the independence criteria to be considered. Figures 2024 SERVICES Europe North America South America APAC TOTAL % Audit and statutory audit of accounts 1,917,333 € 2,378,349 € 407,571 € 681,125 € 5,384,378 € 94 Other non-audit services 338,683 € 14,249 € 0 € 632 € 353,564 € 6 Total 2,256,016 € 2,392,598 € 407,571 € 681,757 € 5,737,942 € 100 The amount of other non-audit services in Europe includes among others, services that refer to the entire Group such as the review of the internal control system on financial reporting and review of the non-financial information related to sustainability included in EDPR Annual Report, which are invoiced to a European company. This amount also includes the limited review as of June 30 th , 2024, of the EDPR Consolidated Financial Statements and other reviews for Group consolidation purposes which are considered non-audit services according to the respective local regulation. Total amount for Europe includes € 1,098,101 of services provided by PricewaterhouseCoopers Auditores S.L. in Spain from which € 813,303 refer to audit services and € 284,798 refer to non- audit services.
99 EDPR Individual Annual Report 2024 Part II Balance Sheet at 31 December 2024 THOUSAND EUROS NOTE 2024 2023 ASSETS Intangible assets 5 16,144 14,677 Property, plant and equipment 6 8,490 9,591 Non-current investments in Group companies and associates: 13,992,307 12,669,600 Equity instruments 8 13,991,913 12,669,307 Derivatives 11 - 69 Other financial assets 10.a 394 224 Non-current investments: 241 273 Other financial assets 10.a 241 273 Deferred tax assets 18 72,039 31,190 Total non-current assets 14,089,221 12,725,331 Trade and other receivables: 10.c 129,246 186,364 Customers, Group companies and associates - current 62,921 67,845 Receivables from Group companies and associates 65,905 117,861 Other receivables 420 657 Other tax receivables - 1 Current investments in Group companies and associates: 10.a 71,060 16,438 Derivatives 1,048 12,511 Other financial assets 70,012 3,927 Current investments 10.a 12 12 Short-term accruals 37 84 Cash and cash equivalents 12 105,884 861,230 Cash 105,884 861,230 Total current assets 306,239 1,064,128 Total assets 14,395,460 13,789,459
100 EDPR Individual Annual Report 2024 Part II Balance Sheet at 31 December 2024 THOUSAND EUROS NOTE 2024 2023 EQUITY AND LIABILITIES Capital and reserves: Share capital 13 5,199,279 5,119,891 Share premium 2,865,623 2,949,771 Reserves 1,556,464 1,556,569 Prior years' losses -572,639 -324,923 Profit/(loss) for the year -346,278 -247,716 Total capital 8,702,449 9,053,592 Total equity 8,702,449 9,053,592 LIABILITIES Non-current provisions: 758 731 Long-term employee benefits 14 758 731 Non-current debt: 130,314 120,829 Derivatives arranged with Group companies 11 83,477 34,502 Other financial liabilities 8 46,837 86,327 Non-current debt with Group companies and associates 16.a 4,172,191 3,908,382 Deferred tax liabilities 18 113,715 87,590 Total non-current liabilities 4,416,978 4,117,532 Current provisions: 76,184 - Other Responsibilities 14 76,184 - Current debt: 2,224 48,717 Derivatives arranged with Group companies 11 204 21,531 Other financial liabilities 2,020 27,186 Current debt with Group companies and associates 16.a 1,166,645 538,824 Trade and other payables: 30,980 30,794 Payables, Group companies and associates - current 16.c 12,667 13,021 Other payables 16.c 8,898 8,936 Personnel (salaries payable) 16.c 8,066 7,580 Other tax payables 18 1,349 1,257 Total current liabilities 1,276,033 618,335 Total equity and liabilities 14,395,460 13,789,459
101 EDPR Individual Annual Report 2024 Part II Income Statement for the year ended 31 December 2024 THOUSAND EUROS NOTE 2024 2023 CONTINUING OPERATIONS Revenues 21.a 211,696 232,130 Own work capitalised 5 73 - Other operating income: 404 4,405 Non-trading and other operating income 404 4,405 Personnel costs: -47,868 -42,034 Salaries, wages and similar compensation -38,194 -33,070 Employee benefits expense 21.c -9,674 -8,964 Other operating expenses: -134,758 -57,794 External services d -54,347 -57,095 Taxes other than income tax -23 -101 Losses, impairment and variation in trade provisions 14 -76,184 - Other general expenses -4,204 -598 Amortisation and depreciation 5 and 6 -8,086 -8,351 Impairment and gains/(losses) on disposal: -166,861 -157,582 Investments 8 -166,861 -157,582 Net operating income -145,400 -29,226 Finance income: 9 3 380 From marketable securities and other financial instruments: 3 380 Other 3 380 Finance cost: 15 -263,919 -251,114 Group companies and associates -263,313 -250,542 Other -606 -572 Exchange gains and losses 10.d and 16.e 30,742 -19,561 Change in fair value of financial instruments 11 -2,222 -952 Impairment and gains/(losses) on disposal of financial instruments 11 3,182 24,070 Net finance cost/income -232,214 -247,177 Profit/(loss) before tax -377,614 -276,403 Income tax 18 31,336 28,687 Profit/(loss) for the year from continuing operations -346,278 -247,716 Profit/(loss) for the year -346,278 -247,716
102 EDPR Individual Annual Report 2024 Part II Statement of Changes in Equity for the year ended 31 December 2024 Statement of Recognised Income and Expense for the year ended 31 December 2024 THOUSAND EUROS NOTE 2024 2023 Net profit/(loss) for the year -346,278 -247,716 Total income and expense recognised directly in equity - -18,444 Cash flow hedges - -24,592 Tax effect - 6,148 Total amounts transferred to the income statement - 13,421 Cash flow hedges - 17,895 Tax effect - -4,474 Total recognised income and expense -346,278 -252,739 Statement of Total Changes in Equity for the year ended 31 December 2024 THOUSAND EUROS 2023 ENTITY SHARE CAPI- TAL SHARE PRE- MIUM RESERVES PROFIT/(LOSS) IN PRIOR YEARS PROFIT/ (LOSS) FOR THE YEAR FAIR VALUE ADJUST- MENTS TOTAL Balance at 31 December 2023 5,119,891 2,949,771 1,556,569 -324,923 -247,716 - 9,053,592 Recognised income and expense - - - - -346,278 - -346,278 Capital contribution 79,389 -79,389 -106 - - - -106 Allocation of profit/(loss) (Note 3): Reserves - - - -247,716 247,716 - - Dividends - -4,759 - - - - -4,759 Balance at 31 December 2024 5,199,280 2,865,623 1,556,463 -572,639 -346,278 - 8,702,449 THOUSAND EUROS 2023 ENTITY SHARE CAPI- TAL SHARE PRE- MIUM RESERVES PROFIT/(LOSS) IN PRIOR YEARS PROFIT/ (LOSS) FOR THE YEAR FAIR VALUE ADJUST- MENTS TOTAL Balance at 31 December 2022 4,802,791 2,287,451 1,563,347 -104,260 -220,663 5,023 8,333,689 Recognised income and expense - - - - -247,716 -5,023 -252,739 Capital contribution 317,100 682,900 -6,778 - - - 993,222 Allocation of profit/(loss) (Note 3): Reserves - - - -220,663 220,663 - - Dividends - -20,580 - - - - -20,580 Balance at 31 December 2023 5,119,891 2,949,771 1,556,569 -324,923 -247,716 - 9,053,592
103 EDPR Individual Annual Report 2024 Part II Cash Flow Statement for the year ended 31 December 2024 THOUSAND EUROS NOTE 2024 2023 CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES: Profit/(loss) for the year before tax -377,614 -276,403 Adjusted profit/(loss): 424.185 341,280 Amortisation and depreciation (+) 5 and 6 8,086 8,351 Gains/(losses) from disposals of investments 8 166,861 157,582 Variation in provisions 78,975 - Finance income (-) -61,954 -72,210 Finance cost (+) 263,919 251,114 Exchange gains and losses (+/-) 10.d and 16.f -30,742 19,561 Change in fair value of financial instruments 11 2,222 952 Impairment and gains/(losses) on disposal of financial instruments (+/-) 11 -3,182 -24,070 Changes in operating assets and liabilities: 51,568 -55,400 Trade and other receivables (+/-) 51,324 -58,211 Other current assets 47 154 Trade and other payables (+/-) 197 2,657 Other cash flows from (used in) operating activities: -187,671 -167,374 Interest paid (-) -262,147 -236,162 Interest received (+) 61,954 59,942 Derivative financial instruments received (paid) (+/-) -9,971 -51,197 Income tax received (paid) (+/-) 18 22,493 60,043 Cash flows from (used in) operating activities -89,532 -157,897 CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: Payments for investments: (-) -1,801,910 -2,207,695 Group companies and associates -1,726,681 -2,194,795 Intangible assets -5,046 -3,615 Property, plant and equipment -171 -9,285 Other financial assets -70,012 - Proceeds from sale of investments: (+) 374,843 280,355 Group companies and associates 374,843 250,355 Other financial assets - 30,000 Cash flows from (used in) financing activities -1,427,067 -1,927,340 CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: Proceeds from and payments for equity instruments - 993,222 Issue of equity instruments (+) - 993,222 Payments made and received for financial liability instruments: 759,431 1,225,821 Debt issues, Group companies (+) 2,704,630 3,060,885 Repayment and amortisation of debts with Group companies (-) -1,945,107 -1,810,973 Other financial liabilities (-) -92 -24,091 Dividends and interest on other equity instruments paid: -4,759 -20,580 Dividends (-) -4,759 -20,580 Cash flows from (used in) financing activities 754,672 2,198,463 Effect of exchange rate fluctuations 6,581 -2,106 Net increase/decrease in cash and cash equivalents -755,346 111,120 Cash and cash equivalents at beginning of year 12 861,230 750,110 Cash and cash equivalents at year end 12 105,884 861,230
104 EDPR Individual Annual Report 2024 Part II Contents 01. Nature and activities of the Company 02. Basis of presentation 03. Allocation of profit/(loss) 04. Recognition and measurement standards 05. Intangible assets 06. Property, plant and equipment 07. Risk management policy 08. Investments in equity instruments of Group companies and associates 09. Financial assets by category 10. Investments and trade receivables 11. Derivative financial instruments 12. Cash and cash equivalents 13. Capital and reserves 14. Provisions 15. Financial liabilities by category 16. Financial debts and trade payables 17. Late payments to suppliers 18. Taxation 19. Environmental information 20. Related party balances and transactions 21. Income and expense 22. Employee information 23. Audit fees 24. Commitments 25. Fair value of financial assets and liabilities 26. Events after the reporting period Annex I Annex II
105 EDPR Individual Annual Report 2024 Part II 01. Nature and activities of the Company EDP Renováveis, S.A. ("the Company") was incorporated by public deed under Spanish law on 4 December 2007 for an indefinite period of time and commenced operations on the same date. Its registered office is located in Oviedo at Plaza del Fresno 2. On 18 March 2008 EDP Renováveis was converted into a public limited company (sociedad anónima). According to the Company's articles of association, the statutory activities of EDP Renováveis, S.A. consists of activities related to the electricity sector, specifically the planning, construction, maintenance and management of electricity production facilities, in particular those qualifying for the special regime for electricity generation. The Company promotes and develops projects relating to energy resources and electricity production activities as well as managing and administering other companies' equity securities. The Company can engage in its statutory activities directly or indirectly through ownership of shares or investments in companies or entities with identical or similar statutory activities. As explained in Note 8, the Company holds investments in subsidiaries. Consequently, under the applicable legislation, the Company is the parent of a corporate group. In accordance with generally accepted accounting principles in Spain, consolidated annual accounts must be prepared to give a true and fair view of the financial position of the Group, the results of its operations and changes in its equity and cash flows. Details of investments in Group companies are provided in Annex I. The Company belongs to the EDP Group, of which the ultimate parent company is EDP, S.A., with registered offices at Avenida 24 de Julho, 12, Lisbon. As at 31 December 2024, EDP, S.A. through its Spanish branch EDP S.A. – Sucursal en España ("EDP Branch") held a qualifying interest of 71.30% (71.27% at 31 December 2023) of EDPR's share capital and voting rights and the remaining 28.70% (28.73% at 31 December 2023) was listed on the Euronext Lisbon market (see Note 13). At 31 December 2024, EDP Renováveis S.A. held a 100% stake in the share capital of the following companies: EDP Renewables Europe, S.L. (EDPR EU), EDP Renewables North America, LLC (EDPR NA), EDP Renewables Canada, Ltd. (EDPR Canada), EDP Renováveis Brasil, S.A. (EDPR BR), the Colombian companies Eolos Energía S.A.S. E.S.P., Vientos del Norte S.A.S. E.S.P., Solar Power Solutions S.A.S. E.S.P., Parque Solar Fotovoltaico El Copey, S.A.S. E.S.P., the Vietnamese company EDP Renewables Vietnam Ltd., the Singaporean companies Trung Song SG Pte. Ltd. and Sunseap Group Pte. Ltd., the Chilean company EDP Renewables Chile SpA., and the Mexican company Parque Solar Los Cuervos, S. de R.L. de C.V. During 2022, following the acquisition of Sunseap by EDP Renováveis S.A. and consequent entry into the Asian Market, EDP and CTG updated their Strategic Partnership Agreement concluded in December 2011. This update aims to make the growth strategies of both companies more flexible, ensuring the application of the most demanding corporate governance standards in their future relationships. The Group essentially operates in the European (Spain, Portugal, Poland, Romania, France, Italy, Greece, UK and Belgium), American (U.S., Brazil, Canada and Mexico) and Asian (Vietnam, Singapore, Taiwan and China) energy sectors. The EDPR Group is currently executing onshore wind and solar energy projects in other countries such as Germany, Chile, Colombia, Hungary, South Korea, Indonesia, Philippines and Australia. Further, EDPR Group signed an agreement with ENGIE on January 2020 to establish a 50/50 joint venture, OW Offshore S.L. (Ocean Winds), in fixed and floating offshore wind business. This entity will be the exclusive investment vehicle of EDPR and ENGIE for offshore wind opportunities worldwide. The geographical distribution of installed capacity is presented in Chapter 3 of the management report. 02. Basis of presentation Fair presentation The annual accounts for 2024 have been prepared on the basis of the accounting records of EDP Renováveis, S.A. in accordance with prevailing legislation and the Spanish General Chart of Accounts to give a true and fair view of the equity and financial position at 31 December 2024 and results of its operations, changes in equity and cash flows for the year then ended. The directors consider that the accompanying individual annual accounts for 2024, authorised for issue on 26 February 2025, will be approved with no changes by the shareholders at their annual general meeting. Comparative information The balance sheet, income statement, statement of changes in equity, cash flow statement and the notes thereto for 2024 include comparative figures for 2023, which formed part of the 2023 annual accounts approved by shareholders at the annual general meeting held on 4 April 2024.
106 EDPR Individual Annual Report 2024 Part II Functional and presentation currency The figures disclosed in the annual accounts are expressed in thousands of euros, the Company's functional and presentation currency. Critical issues regarding valuation and estimation of material uncertainties and judge- ments used when applying accounting principles Material accounting estimates and judgements and other estimates and assumptions have to be made when applying the Company's accounting principles to prepare the annual accounts. The items requiring a greater degree of judgement or which are more complex, or where the assumptions and estimates made are material to the preparation of the annual accounts, are summarised below: Material accounting estimates and assumptions The Company tests investments in Group companies for impairment on an annual basis. Impairment is calculated by comparing the carrying amount of the investment with its recoverable amount. The recoverable amount is the higher of value in use and fair value less costs to sell. The Company generally uses cash flow discounting methods to calculate these values. Cash flow discounting calculations are based on projections in the budgets approved by management. The cash flows take into consideration past experience and represent management's best estimate of future market performance. The key assumptions employed when determining fair value less costs to sell and value in use include growth rates in accordance with best estimates of rises in electricity prices in each country, the weighted average cost of capital and tax rates. These estimates, including the methodology used, could have a significant impact on values and impairment losses. In certain cases, when estimating impairment of investments, the investee's equity is taken into consideration, corrected for any net unrealised gains existing at the measurement date. The fair value of derivative financial instruments is their market value, if available, or quotes given by external entities through the use of valuation techniques, which are compared on each reporting date to fair values available in the usual financial information platforms. Recognition and recovery of deferred tax assets The recognition and recoverability of deferred tax assets is assessed when they are generated and subsequently at each balance sheet reporting date in accordance with expected taxable income/tax loss. The Company also takes into account future tax obligations supporting the recovery of those assets. Changes in accounting estimates Although estimates have been made by the Company's directors based on the best information available at 31 December 2024, future events may require changes to those estimates in subsequent years. Any effect on the annual accounts of adjustments to be made in subsequent years would be recognised prospectively. 03. Allocation of profit/(loss) The proposed allocation of 2024 profit/(loss) to be submitted to the shareholders for approval at their annual general meeting is as follows: EUROS BASIS OF ALLOCATION: Loss for the year -346,278,410 Prior years' losses -346,278,410 The Board of Directors of EDP Renováveis, S.A. has resolved to propose to the annual general meeting of shareholders the payment of a flexible dividend (scrip dividend) to its shareholders for a maximum gross amount of eighty-eight million euros (€88,000,000), allowing them to choose between receiving newly issued bonus shares of the Company or receiving all or part of the remuneration in cash. The scrip dividend will be paid through the issuance of free allocation rights for new shares, followed by a cap- ital increase for their delivery. The Board of Directors will submit this proposal to the shareholders for approval at their annual general meeting. Shareholders who opt for cash remuneration will do so by selling their free allocation rights either to the Company —which will undertake to purchase them at a guaranteed fixed price, subject to approval by the annual general meeting— or on the Euronext Lisbon regulated market. Both the acquisition of the free allocation rights by the Company and the execution of the capital increase will be charged to the share premium as of the date on which the Board of Directors, if applicable, resolves its ex- ecution. Consequently, the final total gross scrip dividend will be equal to the sum of the following amounts: (i) The result of multiplying the nominal value of the Company’s shares (€5) by the number of shares issued in the capital increase, derived from the conversion of free allocation rights outstanding at the end of the period for requesting the Company’s purchase commitment or their sale on the market; plus
107 EDPR Individual Annual Report 2024 Part II (ii) The result of multiplying the guaranteed fixed price by the number of free allocation rights acquired by the Company under the purchase commitment. At the date of preparation of these annual accounts, it is not possible to determine the exact amount of the scrip dividend nor, consequently, the amount of the dividend charged to 2024 profit/(loss). Once the scrip dividend process is completed, the final amounts of both the nominal capital increase and the cash remuneration charged to the share premium will be communicated as soon as the Board of Directors, or its authorised representative, determines those amounts in accordance with the terms of the 2024 dividend distribution resolution and the capital increase, which the Board of Directors will propose to the annual general meeting of shareholders in relation to the scrip dividend. The distribution of profit/(loss) and reserves of the Company for the year ended 31 December 2023, approved by the shareholders at their annual general meeting held on 4 April 2024, was as follows: EUROS BASIS OF ALLOCATION: Loss for the year -247,715,982 Prior years' losses 247,715,982 At 31 December, non-distributable reserves are as follows: THOUSAND EUROS 2024 2023 NON-DISTRIBUTABLE RESERVES: Legal reserve 214,828 214,828 214,828 214,828 Profit recognised directly in equity cannot be distributed, either directly or indirectly. 04. Recognition and measurement standards A) Transactions, balances and cash flows in foreign currency Foreign currency transactions have been translated into euros using the exchange rate at the transaction date. Monetary assets and liabilities denominated in foreign currencies have been translated into euros at the year- end rate, while non-monetary assets and liabilities measured at historical cost have been translated at the exchange rate prevailing on the transaction date. In the cash flow statement, cash flows from foreign currency transactions have been translated into euros at the exchange rates at the dates the cash flows occur. The effect of exchange rate fluctuations on cash and cash equivalents denominated in foreign currencies is recognised separately in the cash flows statement as “Effect of exchange rate fluctuations”. Exchange gains and losses arising on the settlement of foreign currency transactions and the translation into euros of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss. B) Intangible assets Computer software is measured at purchase price and carried at cost, less any accumulated amortisation and impairment. Computer software is amortised by writing off the depreciable amount on a straight-line basis over its useful life, which has been estimated at five years from the time the asset enters into normal use. Capitalised personnel expenses of employees who install computer software are recognised as “Own work capitalised” in the income statement. Computer software acquired and produced by the Company, including website costs, is recognised when it meets the following conditions: Payments attributable to the performance of the project can be measured reliably. The allocation, assignment and timing of costs for each project are clearly defined. There is evidence of the project's technical success, in terms of direct operation or sale to a third party of the results once completed and if a market exists. The economic and commercial feasibility of the project is reasonably assured. Funding to develop the project, the availability of adequate technical and other resources to complete the development and to use or sell the resulting intangible asset are reasonably assured. There is an intention to complete the intangible asset for its use or sale. Computer software maintenance costs are expensed when incurred.
108 EDPR Individual Annual Report 2024 Part II C) Property, plant and equipment Property, plant and equipment are measured at cost of acquisition. Property, plant and equipment are carried at cost less any accumulated depreciation and impairment. Property, plant and equipment are depreciated on a straight-line basis over the useful life of the asset. The depreciable amount is the cost of an asset, less its residual value. The Company determines the depreciation charge separately for each component of an item of property, plant and equipment with a cost that is significant in relation to the total cost of the asset and with a useful life that differs from the remainder of the asset. Property, plant and equipment are depreciated using the following criteria: DEPRECIATION METHOD ESTIMATED YEARS OF USEFUL LIFE Other fixtures Straight-line 10 Furniture Straight-line 10 Information technology equipment Straight-line 4 D) Financial instruments Financial Assets Financial assets at fair value through changes in profit or loss This category includes equity instruments not held for trading that cannot be measured at cost and where, at initial recognition, the entity has made an irrevocable decision to present subsequent changes in fair value directly in profit or loss. It also includes financial assets irrevocably designated, at initial recognition, as at fair value through profit or loss and that, on the contrary would have been included in another category to eliminate or significantly reduce a measurement inconsistency or accounting imbalance that would otherwise occur when measuring assets and liabilities using different bases. Initial measurement The financial assets in this category are initially measured at fair value which, unless proven otherwise, is the transaction price (equivalent to the fair value of the consideration paid). Directly attributable transaction costs are taken to profit or loss for the reporting period. Subsequent measurement After initial recognition, the entity measures the financial assets in this category at fair value through profit or loss. Financial assets at amortised cost This category includes those financial assets, including those admitted to trading on an organised market, that the Company holds in order to collect contractual cash flows, where the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal outstanding. Contractual cash flows that are solely payments of principal and interest on the principal outstanding are inherent in an agreement that is classified as a standard or regular loan, irrespective of whether the loan is interest free or at a below-market rate. This category includes trade and non-trade receivables. a. Trade receivables: financial assets deriving from the sale of goods and rendering of services in the normal course of business that are collected as deferred payments; and b. Non-trade receivables: financial assets not arising from normal business activities that are not equity instruments or derivatives, have fixed or determinable repayments, and derive from loans or credits granted by the entity. Initial measurement The financial assets in this category are initially recognised at fair value which, unless evidence is available to the contrary, is the transaction price, which is equivalent to fair value of the consideration paid. plus directly attributable transaction costs. However, trade receivables which have no explicit contractual interest rate and mature within one year, as well as personal loans, dividends receivable and called up capital expected to be received in the short term, are measured at their nominal value when the effect of not discounting cash flows is considered immaterial.
109 EDPR Individual Annual Report 2024 Part II Subsequent measurement The financial assets in this category are measured at amortised cost. Interest accrued is taken to profit and loss using the effective interest method. However, receivables which mature in less than a year and, as described in the preceding section, are initially measured at their nominal value continue to be measured at that amount, except impaired receivables. When the contractual cash flows deriving from a financial asset change due to the issuer encountering financial difficulties, the entity analyses if it is appropriate to recognise an impairment loss. Impairment At least at the end of each reporting period, valuation adjustments are made if there is objective evidence that a financial asset or group of financial assets with similar risk characteristics that are measured collectively is impaired as a result of one or more events after initial recognition that lead to a reduction or delay in estimated future cash flows, which may be the result of the insolvency of a debtor. Impairment losses on financial assets are measured as the difference between the carrying amount and the present value of future cash flows – including, where applicable, any deriving from the enforcement of security interests and personal guarantees – to which they will give rise, discounted at the effective interest rate calculated on initial recognition. In the case of financial assets with floating interest rates, the effective interest rate at the reporting date according to the contractual terms is used. Impairment allowances and the reversal thereof when the value of said impairment decreases due to a subsequent event, are charged or credited, respectively, to profit or loss. Any reversal of impairment is limited to the carrying amount of the asset that would have been recognised at the reversal date had no impairment allowance been recognised. Financial assets at fair value through equity This category includes financial assets whose contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal outstanding and are not held for trading and cannot be classified as “Financial assets at amortised cost”. This category also includes equity instruments that have been irrevocably designated as “Financial assets at fair value through equity”. Initial measurement The financial assets included in this category are initially measured at fair value, which, as a general rule, is the transaction price, i.e. the fair value of the consideration given plus any directly attributable transaction costs, including the amount of any preferential subscription rights acquired. Subsequent measurement The financial assets include in this category are measured at their fair value without deducting such costs to sell as might be incurred. Changes in fair value are recognised directly in equity until the financial asset is derecognised or impaired, at which time the amount recognised is reclassified to profit or loss. That said, impairment allowances and exchange gains and losses on monetary financial assets in a foreign currency are taken to profit or loss. Interest calculated using the effective interest rate method and accrued dividends are also taken to profit or loss. When a value needs to be assigned to these assets due to write-off or other reasons, the weighted average value for each homogeneous group is applied. In the exceptional circumstances that an equity instrument’s fair value is no longer reliable, previous adjustments recognised in equity are treated the same as impairment of financial assets at cost. When preferential subscription and similar rights are sold or split to be exercised, the amount of the rights in question reduces the carrying amount of the respective assets. This amount is the fair value or cost of the rights, measured in the same way as the associated financial assets. Impairment The necessary valuation adjustments are recognised at least at the end of each reporting period whenever there is objective evidence that a financial asset or group of financial assets included in this category with similar risk characteristics that are measured collectively is impaired, as a result of one or more events after initial recognition that lead to: a. In the case of debt instruments acquired, a reduction or delay in estimated future cash flows, possibly due to debtor insolvency; or b. In the case of investments in equity instruments, the asset’s carrying amount not being recoverable, evidenced by a prolonged or significant decline in its fair value. As a general rule, an instrument is considered to be impaired when there has been a prolonged decrease in its value over a 12-month
110 EDPR Individual Annual Report 2024 Part II period or a decline of 40% ore more in its trading price, without its value recovering, notwithstanding that impairment loss may need to be recognised before the end of that period or before its trading price has fallen by said percentage. The impairment allowance recognised on these financial assets is the difference between their cost, less any impairment allowance previously recognised in profit or loss, and their fair value on the measurement date. Any cumulative fair value losses recognised in equity are recognised in profit or loss whenever there is objective evidence of impairment of the financial asset. Any increases in fair value in subsequent reporting periods are credited to profit or loss for the year to reverse the valuation adjustment recognised in previous reporting periods. This does not apply to increases in the fair value of equity instruments recognised directly in equity. Financial assets at cost The following are included in this category for measurement purposes: a. Equity investments in group companies, jointly controlled entities and associates; b. Other investments in equity instruments whose fair value cannot be determined using a price quoted on an active market for an identical instrument or cannot be reliably estimated, along with the derivatives whose underlying consists of these investments; c. Hybrid financial assets whose fair value cannot be reliably estimated, except where the requirements for them to be recognised at amortised cost have been met; d. Contributions made under joint venture or similar arrangements; e. Participating loans whose interest is contingent, either because a fixed interest rate or a floating rate tied to the borrower reaching a specific milestone (e.g. posting a profit) has been agreed or because the interest is calculated solely by referring to the borrower’s business performance; and f. Any other financial asset that should initially be recognised at fair value through profit or loss but whose fair value cannot be reliably estimated. Initial measurement Investments included in this category are initially measured at cost, which is the fair value of the consideration paid plus any directly attributable transaction costs. The latter are not included in the cost of investments in group companies. Nonetheless, if an investment in a company existed before it was classified as an investment in a group company, jointly controlled entity or associate, the cost of the investment is taken as its carrying amount immediately before the investee was classified as such. The value of any preferential subscription and similar rights acquired is also included in the initial measurement. Subsequent measurement The equity instruments included in this category are measured at cost less any accumulated impairment allowances. When a value needs to be assigned to these assets due to write-off or for another reason, the weighted average cost of a homogeneous group of assets (that is, securities conferring the same rights) is applied. When preferential subscription and similar rights are sold or split to be exercised, the cost of the rights in question reduces the carrying amount of the respective assets. Contributions made under a joint venture or similar arrangement are measured at cost, plus or minus, respectively, the profit or loss attributable to the entity as a non-managing investor, and minus the cumulative amount of any impairment allowances. The same criteria are followed for participating loans whose interest is contingent, either because a fixed interest rate or a floating rate tied to the borrower reaching a specific milestone (e.g. posting a profit) has been agreed or because the interest is calculated solely by referring to the borrower’s business performance. If an irrevocable fixed interest rate is agreed as well as contingent interest, the contingent interest is booked as finance income on an accruals basis. Transaction costs are taken to profit or loss on a straight-line basis over the term of the participating loan. Impairment At least at the end of each reporting period, the necessary impairment allowances are recognised whenever there is objective evidence that the carrying amount of an investment will not be recoverable. The valuation adjustment is measured as the difference between the asset’s carrying amount and the amount that is expected to be recovered, the latter being the greater of fair value less costs to sell or the present value of the future cash flows derived from the investment. In the case of equity instruments, these cash flows are
111 EDPR Individual Annual Report 2024 Part II calculated as those expected to be received in the form of dividends paid out by the investee and from the disposal or derecognition of the equity stake in the investee, by estimating the entity’s share in future expected cash flows from the investee, whether in the ordinary course of business or through its disposal or derecognition. Unless there is better evidence of the recoverable value of investments in equity instruments, impairment losses on this type of asset are calculated based on the investee’s equity and any unrealised capital gains at the measurement date, net of the tax effect. Where the investee has also invested in another entity, the recoverable value is calculated based on the equity included in the consolidated annual accounts prepared in accordance with the Code of Commerce and its implementing regulations. Impairment allowances and any reversals thereof are recognised as an expense or income, respectively, in profit or loss. Reversals are limited to the carrying amount of the investment that would have been recognised at the reversal date had no impairment been recognised. That said, if an investment had been made in an entity before it was classified as a group company, jointly controlled entity or associate, and before that classification valuation adjustments had been recognised directly in the equity deriving from that investment, the adjustments are retained after said classification until the investment is disposed of or derecognised. The valuation adjustments are taken to profit or loss at this point or once the following circumstances apply: In the case of previous valuation adjustments due to increases in value, the impairment allowances are taken to equity, which includes the previously recognised valuation adjustments up to the value of the allowances, while any excess is taken to profit or loss. Impairment allowances taken directly to equity are not reversed. In the case of previous valuation adjustments due to decreases in value, when the recoverable value is subsequently higher than the carrying amount of the investments, the latter is increased up to the level of the aforementioned reduction in value, against the line item which included the previous valuation adjustments and, from that point on, the new amount is taken as the cost of the investment. However, when there is objective evidence that the investment is impaired, the losses accumulated directly in equity are taken to profit or loss. Financial Liabilities For measurement purposes, financial liabilities are classified into one of the following categories: Financial liabilities at amortised cost This category generally includes trade and non-trade payables: Trade payables: financial liabilities deriving from the purchase of goods and services in the normal course of business that are settled as deferred payments; and Non-trade payables: financial liabilities that are not derivative instruments, and do not arise from normal business activities rather from loans or credit facilities received by the entity. Participating loans that are standard or regular loans are also included in this category, irrespective of the agreed interest rate (zero or below the market rate). Initial measurement The financial liabilities in this category are initially recognised at fair value, which is the transaction price, that is, the fair value of the consideration received adjusted for any directly attributable transaction costs. However, trade payables which mature within one year and have no contractual interest rate, as well as capital calls by third parties that are expected to be paid in the short term, are measured at their nominal value when the effect of not discounting cash flows is immaterial. Subsequent measurement The financial liabilities in this category are measured at amortised cost. Accrued interest is taken to profit or loss using the effective interest rate method. However, payables which mature in less than a year and are initially measured at their nominal value continue to be measured at that amount. Financial liabilities at fair value through profit or loss This category includes financial liabilities that meet any of the following conditions: Liabilities held for trading. Liabilities irrevocably designated, at initial recognition, as measured at fair value through profit or loss because of: An inconsistency or accounting imbalance is significantly reduced or eliminated with other instruments at fair value through profit or loss; or
112 EDPR Individual Annual Report 2024 Part II A group of financial liabilities or of financial assets and liabilities is managed and its performance is evaluated on a fair-value basis, in accordance with a documented risk management or investment strategy, and information regarding that group is also provided to key management personnel on a fair-value basis. Hybrid financial liabilities that cannot be separated, included optionally and irrevocably. Initial and subsequent measurement The financial liabilities in this category are initially measured at fair value, which is the transaction price, that is, the fair value of the consideration received. Directly attributable transaction costs are recognised directly in profit or loss for the year. After initial recognition, the financial liabilities in this category are recognised at fair value through profit or loss. In the case of convertible bonds, the fair value of the liability component is calculated using the interest rate for similar non-convertible bonds. This amount is recognised as a liability at amortised cost until it is settled on conversion or expiration. The other income obtained is allocated to the conversion option which is recognised in equity. If existing debt is renegotiated, no substantial changes to the financial liability are deemed to exist when the lender of the new loan is the same as the lender of the initial loan, and the present value of the cash flows, including net commissions, does not differ by more than 10% from the present value of the outstanding cash flows of the original liability calculated using the same method. E) Cash and cash equivalents Cash and cash equivalents include cash on hand and demand deposits in financial institutions. They also include other short-term, highly liquid investments that are readily convertible into known amounts of cash and for which the risk of changes in value is insignificant. An investment normally qualifies as a cash equivalent when it has a maturity of less than three months from the date of acquisition. The Company classifies current accounts with Group companies under this heading if they are cash-pooling accounts with there is a sum receivable. Otherwise, they are recorded under current payables with Group companies and associates. The Company recognises cash payments and receipts for financial assets and financial liabilities with a quick turnover on a net basis in the statement of cash flows. Turnover is considered to be quick when the period between the date of acquisition and maturity does not exceed six months. F) Provisions Provisions are recognised when the Company has a present obligation (legal, contractual, constructive or tacit) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the expenditure required to settle the present obligation at the end of the reporting period, taking into account all risks and uncertainties surrounding the amount to be recognised as a provision and, where the time value of money is material, the financial effect of discounting provided that the expenditure to be made in each period can be reliably estimated. The discount rate is determined before taxes, taking into consideration the time value of money, as well as the specific risks that have not been included in future cash flows relating to the provision at each closing date. The financial effect of the provisions is recognised as a financial expense in the income statement. When an outflow of funds is not likely to be needed to settle an obligation, the provision is reversed. G) Revenue from sales and services provided Revenue from the sale of goods and the rendering of services is measured at the fair value of the consideration received or receivable. Discounts, as well as the interest added to the nominal amount of the consideration, are recognised as a reduction in the consideration. Revenues associated with the rendering of services are recognised in the income statement by reference to the stage of completion at the reporting date when the amount of the revenue, the stage of completion, the costs incurred and the costs to complete the transaction can be estimated reliably and it is probable that the economic benefits derived from the transaction will flow to the Company. Interest and dividends Interest is recognised using the effective interest rate method. Dividend income from investments in equity instruments is recognised when the Company acquires the right to receive it. If the distributed dividends unequivocally originate from earnings generated prior to the acquisition date —i.e., if the amounts distributed exceed the profits generated by the investee since the acquisition— they reduce the carrying amount of the investment.
113 EDPR Individual Annual Report 2024 Part II In accordance with ICAC Consultation No. 2 published in B.O.I.C.A.C. 78, for entities whose ordinary activity consists of holding equity interests in group companies and financing their investees' activities, dividends and other income —such as coupons and interest— accrued from financing granted to investees, as well as gains obtained from the disposal of investments (except for those arising from the derecognition of subsidiaries, jointly controlled entities, or associates), form part of the "Revenues" figure in the income statement. H) Income tax The income tax expense or tax income for the year comprises both the current tax and the deferred tax. Current tax assets or liabilities are measured at the amount expected to be paid to or recovered from the tax authorities, using the tax rates and tax laws that have been enacted or substantively enacted at the reporting date. Current and deferred tax are recognised in the income statement unless the tax arises from a transaction or economic event that has been recognised in the same or in a different period directly in equity or from a business combination. The Company files consolidated tax returns as part of the 385/08 group headed by EDP, S.A. Sucursal en España. In addition to the factors to be considered for individual taxation, set out previously, the following factors are taken into account when determining the accrued income tax expense for the companies forming the consolidated tax group: Temporary and permanent differences arising from the elimination of gains and losses on transactions between Group companies arising from the process of determining the consolidated taxable income. Deductions and credits corresponding to each company forming the consolidated tax group. For these purposes, deductions and credits are allocated to the company that carried out the activity or obtained the profit needed to obtain the right to the deduction or tax credit. Temporary differences arising from the elimination of gains and losses on transactions between tax group companies are allocated to the company which recognised the gain/loss and are valued using the tax rate of that company. A reciprocal credit and debit arise between the companies that contribute tax losses to the consolidated Group and the rest of the companies that offset those losses. Where a tax loss cannot be offset by the other consolidated Group companies, these tax credits for loss carryforwards are recognised as deferred tax assets using the applicable recognition criteria, considering the tax group as a taxable entity. The Parent of the Group records the total consolidated income tax payable (recoverable) with a debit (credit) to receivables (payables) from/to Group companies and associates. The amount of the debt (credit) relating to the subsidiaries is recognised with a credit (debit) to payables (receivables) to/from Group companies and associates (see Note 18). Taxable temporary differences Taxable temporary differences are recognised in all cases except where they arise from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither accounting profit nor taxable income. Deductible temporary differences Deductible temporary differences are recognised provided that it is probable that sufficient taxable income in the consolidated tax group will be available against which the deductible temporary difference can be applied, or where tax legislation envisages the possibility of converting deferred tax assets into a tax receivable in the future. The Company recognises the conversion of a deferred tax asset into a tax receivable when it becomes enforceable under the applicable tax legislation. For these purposes, the deferred tax asset is derecognised with a charge to the deferred tax expense and the receivable is recognised with a credit to current tax. The Company recognises the payment obligation deriving from financial contributions as an operating expense with a credit to tax payables when it is accrued in accordance with the Spanish Corporate Income Tax Law. Nonetheless, assets arising from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither accounting profit nor taxable income, are not recognised. In the absence of evidence to the contrary, it is not considered probable that the Company will have future taxable profit when the deferred tax assets are expected to be recovered in a period of more than ten years from the end of the reporting period, irrespective of the nature of the deferred tax asset; or, in the case of tax credits for deductions and other tax relief that are unused due to an insufficient amount of total tax, when there
114 EDPR Individual Annual Report 2024 Part II is reasonable doubt —after the activity or the income giving rise to entitlement to the deduction or tax credit has been rendered or received, respectively — as to whether the requirements for their setoff will be met. The Company only recognises deferred tax assets arising from tax loss carryforwards when it is probable that future taxable profit in the consolidated tax group will be generated against which they may be set off within the period stipulated in applicable tax legislation, up to a maximum period of ten years, unless there is evidence that their recovery in a longer period of time is probable and tax legislation provides for their application in a longer period or stipulates no time limit for their application. Conversely, it is considered probable that the Company will generate sufficient taxable profit to recover deferred tax assets when there are sufficient taxable temporary differences relating to the same tax and the same taxable entity, which are expected to reverse in the same tax period as the expected reversal of the deductible temporary differences or in periods into which a tax loss arising from a deductible temporary difference can be carried back or forward. The Company recognises deferred tax assets not previously recognised because they were not expected to be applied within the ten-year recovery period, inasmuch as the future reversal period does not exceed ten years from the end of the reporting period or when there are sufficient taxable temporary differences. Tax planning opportunities are only considered when assessing the recoverability of deferred tax assets and if the Company intends to use these opportunities or it is probable that they will be used. Measurement Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the years when the asset is realised or the liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted. The tax consequences that would ensue from the manner in which the Company expects to recover or settle the carrying amount of its assets or liabilities are also reflected in the measurement of deferred tax assets and liabilities. For these purposes, the Company has considered the deduction for reversal of the temporary measures provided in transitional provision thirty-seven of Corporate Income Tax Law 27/2014 of 27 November 2014 as an adjustment to the tax rate applicable to the deductible temporary difference associated with the non-deductibility of amortisation and depreciation charges in 2013 and 2014. Classification Deferred tax assets and liabilities are recognised in the balance sheet under non-current assets or liabilities, irrespective of the expected date of recovery or settlement. I) Classification of assets and liabilities as current and non-current The Company classifies assets and liabilities in the balance sheet as current or non-current. Current assets and liabilities are determined as follows: Assets are classified as current when they are expected to be realised or are intended for sale or consumption in the Company's normal operating cycle, they are held primarily for the purpose of trading, they are expected to be realised within 12 months after the reporting date or are cash or a cash equivalent, unless the assets may not be exchanged or used to settle a liability for at least 12 months after the reporting date. Liabilities are classified as current when they are expected to be settled in the Company's normal operating cycle, they are held primarily for the purpose of trading, they are due to be settled within 12 months after the reporting date or the Company does not have an unconditional right to defer settlement of the liability for at least 12 months after the reporting date. Financial liabilities are classified as current when they are due to be settled within 12 months after the reporting date, even if the original term was for a period longer than 12 months, and an agreement to refinance or to reschedule payments on a long-term basis is completed after the reporting date and before the annual accounts are authorised for issue. J) Environmental issues Environmental assets Non-current assets acquired by the Company to minimise the environmental impact of its activity and to protect and improve the environment, including the reduction and elimination of future pollution from the Company's activities, are recognised under property, plant and equipment in the balance sheet at purchase price or cost of production and depreciated over their estimated useful lives. Environmental expenses Environmental expenses are the costs arising from managing the environmental impact of the Company's operations and existing environmental commitments. These include expenses relating to the prevention of pollution caused by ordinary activities, waste treatment and disposal, decontamination, restoration, environmental management or environmental audit. Expenses arising from environmental activities are recognised as operating expenses in the period in which they are incurred.
115 EDPR Individual Annual Report 2024 Part II Environmental provisions The Company makes an environmental provision when expenses are likely or certain to arise but the amount or timing is unknown. Where necessary, a provision is also made for environmental actions arising from any legal or contractual commitments and for those commitments acquired for the prevention and repair of environmental damage. K) Related party transactions Transactions between Group companies are recognised at the fair value of the consideration paid or received. The difference between this value and the amount agreed is recognised according to the underlying economic substance of the transaction. All transactions with related parties are carried out on an arm’s length basis.. L) Hedge accounting The Company uses financial instruments to hedge net investments in foreign operations and interest rate risk. Derivatives not qualifying for hedge accounting are accounted for as trading instruments. Hedging derivatives are recorded at fair value, recognising the gains and losses in accordance with the hedge accounting model applied by the Company. A hedging relationship exists when: The hedging relationship consists only of hedging instruments and hedged items that are eligible as per determined in accounting policies. At the inception of the hedge there is formal documentation of the hedging relationship and the Group's risk management objective and strategy for the hedge; There is an economic relationship between the hedged item and the hedging instrument; The effect of credit risk does not dominate the value changes that result from that economic relationship; The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the entity actually hedges and the quantity of the hedging instrument that the entity actually uses to hedge that quantity of hedged item. Hedges of a net investment in a foreign operation The Company hedges the foreign currency risk arising from investments in Group companies denominated in foreign currency. The changes in the value of the hedging instrument or the exchange differences relating to a monetary item used as a hedging instrument are recognised as exchange gains or losses in the income statement. Changes in the value of investments related to the underlying foreign currency amount in the annual accounts are recognised as exchange gains or losses in profit and loss. The Company hedges net investments in foreign operations in relation to its investment in the Group companies EDP Renewables North America, LLC., EDP Renováveis Brasil S.A., EDP Renewables Canada, Ltd, Sunseap Group, Pte Ltd., Parque Solar Los Cuervos, S. de R.L. de C.V. and Colombian subsidiaries. Cash flow hedges Changes in the fair value of derivatives qualifying as cash flow hedges are recognised in reserves. The cumulative gains or losses recognised in reserves are reclassified to the income statement where the hedged item affects the income statement. When a hedging relationship in a future transaction is discontinued, the changes in the fair value of derivative recognised in equity continue to be recognised until the future hedged transaction occurs. When the future transaction is no longer expected to occur, the cumulative gains or losses recognised in equity are recorded immediately in the income statement. M) Grants, donations and bequests Grants, donations and bequests are recorded in recognised income and expense when, as applicable, they have been officially awarded, the conditions attached to them have been met or there is reasonable assurance that they will be received. Monetary grants, donations and bequests are measured at the fair value of the sum received, whilst non- monetary grants, donations and bequests received are accounted for at fair value. In subsequent years, grants, donations and bequests are taken to income according to their purpose. N) Long and short-term employee benefits The Company recognises the expected cost of profit-sharing and bonus plans when it has a present legal or constructive obligation to make such payments as a result of past events and a reliable estimate of the obligation can be made.
116 EDPR Individual Annual Report 2024 Part II 05. Intangible assets Details of intangible assets and movement are as follows: THOUSAND EUROS BALANCE AT 31/12/22 ADDI- TIONS TRANSFER BALANCE AT 31/12/23 ADDI- TIONS TRANSFER BALANCE AT 31/12/24 COST: Computer software 36,149 - 3,047 39,196 - 3,692 42,888 Computer software under de- velopment 5,805 2,871 -3,047 5,629 8,281 -3,692 10,218 41,954 2,871 - 44,825 8,281 - 53,106 AMORTISATION: Computer software -23,553 -6,595 - -30,148 -6,814 - -36,962 -23,553 -6,595 - -30,148 -6,814 - -36,962 Carrying amount 18,401 -3,724 - 14,677 1,467 - 16,144 Additions in 2024 and 2023 reflect information management applications purchased or developed during the year. At the 2024 reporting date, the Company had fully amortised intangible assets in use of EUR 33,642 thousand (EUR 7,164 thousand in 2023). During 2024, personnel costs of EUR 73 thousand were capitalised as intangible assets (no personnel costs were capitalised in 2023). At 31 December 2024 and 2023, the Company had no commitments to purchase intangible assets. 06. Property, plant and equipment The composition of property, plant and equipment and related movements are as follows: THOUSAND EU- ROS BAL- ANCE AT 31/12/22 ADDI- TIONS TRANSFER BAL- ANCE AT 31/12/23 ADDI- TIONS DISPOS- ALS TRANSFER BAL- ANCE AT 31/12/24 COST: Other fixtures 3,455 2,793 3,457 9,705 - -3,556 6 6,155 Information technology equipment and furniture 1,629 3,142 - 4,771 111 - - 4,882 Other fixtures under de- velopment 359 3,350 -3,457 252 60 - -6 306 5,443 9,285 - 14,728 171 -3,556 - 11,343 DEPRECIATION: Other fixtures -2,280 -1,482 - -3,762 -615 3,556 - -821 Information technology equipment and furniture -1,101 -274 - -1,375 -657 - - -2,032 -3,381 -1,756 - -5,137 -1,272 3,556 - -2,853 Carrying amount 2,062 7,529 - 9,591 -1,101 - - 8,490 Additions in 2023 mainly reflected the works executed on the Company's new headquarters. The Company takes out insurance policies to cover the risk of damage to its property, plant and equipment. The coverage of these policies is considered sufficient. Fully depreciated property, plant and equipment amounted to EUR 769 thousand at year-end 2024 (Euro 4,307 thousand in 2023), of which EUR 79 thousand were furniture and EUR 690 thousand data processing equipment. During 2024, fully depreciated assets of EUR 3,556 thousand were derecognised under Other fixtures. At 31 December 2024 and 2023, the Company had no commitments to purchase property, plant and equipment.
117 EDPR Individual Annual Report 2024 Part II 07. Risk management policy Financial risk factors The Company's activities are exposed to various financial risks: market risk (including currency risk and interest rate risk in fair value measurements), credit risk, liquidity risk and cash flow interest rate risk. The Company's global risk management programme focuses on uncertainty in the financial markets and aims to minimise potential adverse effects on the Company's profits. The Company uses derivatives to mitigate certain risks. The directors of the Company are responsible for defining general risk management principles and establishing exposure limits and it is carried out by the Finance Department of the Company in accordance with the policies approved by the Board of Directors. The main functions, among other, includes the identification and evaluation of hedging instruments. All operations involving derivative financial instruments are subject to prior approval from the Board of Directors, which sets the parameters for each transaction and approves the formal documents describing the objectives of the transaction. Currency risk The Company operates internationally and is therefore exposed to currency risk in transactions with foreign currencies, especially with regard to the US Dollar (USD), the Brazilian Real (BRR), the Canadian Dollar (CAD), the Singapore Dollar (SGD)and the Colombian Peso (COP). Currency risk is associated with recognised assets and liabilities and net investments in foreign operations. The Company holds investments in Group companies that are denominated in foreign currency and therefore exposed to exchange-rate risk at year-end when translating those amounts into the Company’s functional currency (euro). Currency risk affecting these investments is mitigated primarily through derivative financial instruments and borrowings in the corresponding foreign currencies. Details of hedged financial assets and the derivative financial instruments obtained to mitigate the currency risk are provided in Notes 8 and 11. Details of financial assets and liabilities in foreign currencies and transactions in foreign currencies are provided in Notes 8, 10, 11, 16 and 21. Credit Risk The Company does not have significant exposure to credit risk as the majority of its balances and transactions are with Group companies. As the counterparties of derivative financial instruments are Group companies, and the counterparties of their derivative financial instruments are highly solvent banks, the Company is not subject to significant counterparty default risk. Guarantees or other derivatives are therefore not requested in those transactions. The Company has documented its financial transactions in accordance with accounting policies. The majority of its transactions with derivative financial instruments are therefore arranged under ISDA Master Agreements, which facilitates the transfer of instruments in the market. The total amount of financial assets subject to credit risk is shown in Note 10. Liquidity Risk Liquidity risk is the risk that the Company will be unable to meet its financial obligations when they fall due. The Company's approach in managing liquidity risk is to guarantee as far as possible that liquidity will always be available to pay its debts before they mature, in normal conditions and during financial difficulties, without incurring unacceptable losses or compromising the Company's reputation. As of December 31, 2024, the Company has negative working capital in the amount of 969,794 thousand euros. However, the directors have estimated cash flows that show that the Company will meet existing commitments at 2024 year-end and those expected for 2025 and they have prepared the annual report in accordance with the going concern principle. Compliance with the liquidity policy guarantees payment of its contracted commitments, with sufficient credit facilities maintained. The EDP Renováveis Group manages liquidity risk by arranging and maintaining credit facilities with its majority shareholder, or directly with domestic and international entities in the market, under optimal conditions, to ensure access to the funding required to continue its activities. Details of financial assets and financial liabilities by contractual maturity date are provided in Notes 10 and 16. Cash flow and fair value interest rate risks In 2024 and 2023, the Company did not have significant interest-earning assets. As a result, income and cash flows from operating activities are not significantly affected by fluctuations in market interest rates. Interest rate risk arises from non-current borrowings from Group companies. The loans have fixed interest rates, mitigating the risk of interest rate volatility. Details of hedged financial assets and the derivative financial instruments arranged to hedge them are provided in Notes 8 and 11.
118 EDPR Individual Annual Report 2024 Part II 08. Investments in equity instruments of Group companies and associates Direct investments in equity instruments of Group companies and associates are itemised below: THOUSAND EUROS 2024 2023 GROUP COMPANIES EDP Renováveis Brasil S.A. 710,266 736,120 EDP Renewables Europe, S.L.U. 3,079,340 3,079,340 EDP Renewables North America, LLC 8,157,919 6,728,114 EDP Renewables Canada, Ltd. 197,894 198,916 EDP Renováveis Servicios Financieros S.A. 142,346 274,892 EDPR România, S.R.L 25 25 Eolos Energias S.A.S. E.S.P. - 43,053 Vientos del Norte S.A.S. E.S.P. - - Parque Solar Fotovoltaico El Copey, S.A.S. E.S.P. 7,920 7,920 Solar Power Solutions, S.A.S. E.S.P. - 62,209 Parque Solar Los Cuervos. S. de R.L. de C.V. 184,563 179,197 EDPR Vietnam 254 254 OMA Haedori Co., Ltd. 2,099 1,859 Vientos de Coahuila, S.A. de C.V. 1,355 1,295 EDP Renewables Chile, SpA 11,183 11,183 Trung Son SG PTE, LTD. 17,147 13,502 Sunseap Group Pte. Ltd. 929,489 907,584 Aioliki Oitis Energiaki - 246 Other (See Annex I) - 10 Total 13,441,800 12,245,719 ASSOCIATES OW Offshore S.L. 550,111 423,586 Other (See Annex I) 2 2 Total 550,113 423,588 Total 2024 13,991,913 12,669,307 (Note 10a)
119 EDPR Individual Annual Report 2024 Part II The movements in Group and associate equity instruments during 2024 and 2023 were as follows: 2024 THOUSAND EUROS 31/12/2023 ADDITIONS DISPOSALS AND IMPAIRMENT CHANGES IN EXCHANGE RATES 31/12/2024 GROUP COMPANIES EDP Renováveis Brasil S.A. 736,120 - - -25,853 710,267 EDP Renewables Europe, S.L 3,079,340 - - - 3,079,340 EDP Renewables North America, LLC 6,728,114 1,221,799 - 208,006 8,157,919 EDP Renewables Canada, Ltd 198,916 - - -1,022 197,894 EDP Renováveis Servicios Financieros S.A. 274,892 - -132,546 - 142,346 EDPR România, S.R.L 25 - - - 25 Eolos Energía, S.A.S. E.S.P. 43,053 - -43,053 - - Vientos del Norte S.A.S. E.S.P. - - - - - Parque Solar Fotovoltaico El Copey, S.A.S. E.S.P. 7,920 - - - 7,920 Solar Power Solutions, S.A.S. E.S.P. 62,209 - -62,209 - - Parque Solar Los Cuervos. S. de R.L. de C.V. 179,197 - - 5,365 184,562 EDPR Vietnam 254 - - - 254 OMA Haedori Co., Ltd. 1,859 240 - - 2,099 Vientos de Coahuila, S.A. de C.V. 1,295 - - 60 1,355 EDP Renewables Chile, SpA 11,183 - - - 11,183 Trung Son SG PTE, LTD. 13,502 3,359 - 286 17,147 Sunseap Group Pte. Ltd. 907,584 - - 21,905 929,489 Aioliki Oitis Energiaki 246 - -246 - - Other (See Annex I) 10 - -10 - - Total 12,245,719 1,225,398 -238,064 208,747 13,441,800 ASSOCIATES OW Offshore S.L. 423,586 126,525 - - 550,111 Other (See Annex I) 2 - - - 2 Total 423,588 126,525 - - 550,113 Total 12,669,307 1,351,923 -238,064 208,747 13,991,913
120 EDPR Individual Annual Report 2024 Part II 2023 THOUSAND EUROS 31/12/2022 ADDITIONS DISPOSALS AND IMPAIRMENT CHANGES IN EXCHANGE RATES 31/12/2023 Group companies EDP Renováveis Brasil S.A. 587,228 138,514 - 10,378 736,120 EDP Renewables Europe, S.L 3,079,340 - - - 3,079,340 EDP Renewables North America, LLC 5,464,273 1,458,472 - -194,631 6,728,114 EDP Renewables Canada, Ltd 142,739 57,876 -23 -1,676 198,916 EDP Renováveis Servicios Financieros S.A. 274,892 - - - 274,892 EDPR România, S.R.L 25 - - - 25 Eolos Energía, S.A.S. E.S.P. 52,059 80,143 -90,106 957 43,053 Vientos del Norte S.A.S. E.S.P. 14,130 54,967 -69,591 494 - Parque Solar Fotovoltaico El Copey, S.A.S. E.S.P. 7,920 - - - 7,920 Solar Power Solutions, S.A.S. E.S.P. 57,121 3,200 - 1,888 62,209 Parque Solar Los Cuervos. S. de R.L. de C.V. 185,637 - - -6,440 179,197 EDPR Vietnam 254 - - - 254 OMA Haedori Co., Ltd. 1,874 - - -15 1,859 Vientos de Coahuila. S.A. de C.V. 1,342 - - -47 1,295 EDP Renewables Chile, SpA 6,898 4,566 - -281 11,183 Trung Son SG PTE, LTD. 13,988 - - -486 13,502 Sunseap Group Pte. Ltd. 838,095 87,647 -285 -17,873 907,584 Aioliki Oitis Energiaki 246 - - - 246 Other (See Annex I) 10 - - - 10 Total 10,728,071 1,885,384 -160,005 -207,732 12,245,719 Associates OW Offshore S.L. 350,158 73,428 - - 423,586 Other (See Annex I) 2 - - - 2 Total 350,160 73,428 - - 423,588 Total 11,078,231 1,958,812 -160,005 -207,732 12,669,307 Investments in Group companies and associates Details of direct and indirect investments in Group companies are provided in Annex I. In 2024 and 2023, the Company financed its subsidiary EDP Renewables North America, LLC (EDPR NA) by subscribing successive capital increases/reductions for a net amount of EUR 1,221,799 thousand and EUR 1,458,472 thousand (USD 1,328,815 thousand and USD 1,570,382 thousand), generating an increase in 2024 and 2023, respectively. In 2024, the Company subscribed a capital increase in Trung Son PTE, Ltd for EUR 3,359 thousand (USD 3,700 thousand). During 2024, the Company subscribed a capital increase in OMA Haedori Co., Ltd for EUR 240 thousand (SK WON 345,000 thousand). In 2023, the Company subscribed a capital increases in EDP Renováveis Brasil S.A. for EUR 138,514 thousand (BRL 726,791 thousand). In 2023, the Company subscribed a capital increases in EDP Renewables Canada Ltd for EUR 57,876 thousand (CAD 85,038 thousand). In 2023, the Company carried out capital increases in Eolos Energía, S.A.S. E.S.P. for EUR 80,143 thousand (COP 408,240 million). In 2023, the Company carried out capital increases in Vientos de Norte, S.A.S. E.S.P. for EUR 54,967 thousand (COP 270,774 million). During 2023, the Company subscribed a capital increase in the Colombian company Solar Power Solutions, S.A.S. E.S.P. for EUR 3,200 thousand (COP 16,223 million).
121 EDPR Individual Annual Report 2024 Part II During 2023, the Company carried out capital increases in EDP Renewables Chile, SpA for Euro 4,566 thousand (USD 5,000 thousand). In 2023, the Company subscribed capital increases in Sunseap Group PTE, Ltd for EUR 87,647 thousand (SGD 127,000 thousand). During 2024 and 2023, the Company subscribed capital increases in its jointly controlled associate Ocean Wind Offshore, S.L. for EUR 126,525 thousand and EUR 3,428 thousand, respectively. Impairment testing of investments in equity instruments Investments in equity instruments are tested for impairment annually. The recoverable amount is determined using the value in use. Shareholder cash flows are discounted to carry out this analysis. This method is based on the principle that the estimated value of an entity or business is defined by its capacity to generate future financial resources, assuming that these resources can be withdrawn from the business and distributed among the Company's shareholders, without compromising the continuation of the activity. The amount was therefore based on free cash flows generated by each company's business, discounted at appropriate discount rates and deducting the net debt. The projection period for future cash flows is the useful life of the assets (30 years for wind and 35 years for solar), which is in line with the current amortisation method. Cash flows also include long-term operating contracts and long-term estimates of energy prices, provided that the asset carries market prices risk. The following main assumptions are used for testing impairment: Energy produced: The wind and solar studies carried out are used to determine the net capacity factors used for each farm, which take into account the long-term predictability of wind and solar energy production and that wind and solar energy production is supported in almost all countries by regulations that allow priority production and supply whenever weather conditions allow. Electricity remuneration: Approved or contracted remuneration has been applied when available with regards the companies that benefit from regulated remuneration or that have signed agreements to sell their predetermined production over the entire useful life of the asset or a part of it; when this option was not available, prices were calculated using price curves projected by the company using its experience, internal models and external information sources. New capacity: Tests were based on the best information available about the wind and solar farms expected to be built in the coming years, adjusted by the likelihood that the planned projects will be successfully completed and by the company's growth prospects based on the objectives in the business plan, historical growth and projections of market size. Tests took into account the contracted and expected prices for acquiring turbines from several suppliers. Operating costs: Contracts entered into for land leases and maintenance agreements were used; other operating costs were projected in a manner consistent with the company's internal models and experience. Residual value: The residual value is taken as 15% of the initial investment in each wind and solar farm, taking inflation into consideration. Discount rate: The following discount rates used are after taxes and they reflect the EDPR Group's best estimate of the specific risks: 2024 2023 Europe 4.44%-8.69% 4.4%-9.0% North America 5.77%-8.30% 6.5%-7.5% APAC 2.93%-8.81% 2.8%-11.0% LATAM 6.65%-11.18% 6.7%-11.3% EDPR has performed the following sensitivity analyses on the results of the affected impairment tests: Increase in the discount rate used in the benchmark scenario of 50 base points. This sensitivity analysis performed independently for that assumption would involve no further impairment. As a result of the decision to halt the construction of renewable energy projects in Colombia, the Company estimates that the investments made are wholly unrecoverable and has therefore recognised an impairment loss of all assets associated with these projects. This includes, in particular, the direct shareholdings in Eolos Energía S.A.S. E.S.P. and Solar Power Solutions S.A. E.S.P., for which a combined impairment of EUR 90,106 thousand had already been recognised in 2023. Furthermore, due to the situation of those renewable energy projects in Colombia, the Company has recognised a partial impairment of EUR €132,546 thousand of its shareholding in EDP Renovaveis Servicios Financieros, S.A. No further impairments have been recognised as a result of the testing conducted on the remaining investments during 2024 (impairment of EUR 69,591 thousand of the interest in Vientos del Norte S.A.S. E.S.P. in 2023). Following this write-off, the total portfolio provisions amounted to EUR 387,199 thousand at December 2024 (EUR 220,338 thousand in 2023).
122 EDPR Individual Annual Report 2024 Part II Foreign currency The functional currencies of foreign operations are the currencies of the countries in which they are located. These are primarily the US Dollar, the Canadian Dollar, the Brazilian Real, Singapore Dollar and the Colombian Peso. Hedged investments The details of investments whose fair value is hedged against currency risk at 31 December 2024 and 2023 are as follows: THOUSAND EUROS INTEREST HEDGED INTEREST NOT HEDGED TOTAL 2024 EDP Renewables North America, LLC. (EDPR NA) 2,882,816 5,275,103 8,157,919 EDP Renewables Canada, Ltd 42,079 155,815 197,894 Parque Solar Los Cuervos. S. de R.L. de C.V. 82,705 101,858 184,563 Trung Son SG PTE, LTD. 927 16,220 17,147 Sunseap Group Pte. Ltd. 747,400 182,089 929,489 Total 3,755,927 5,731,085 9,487,012 THOUSAND EUROS INTEREST HEDGED INTEREST NOT HEDGED TOTAL 202 EDP Renováveis Brasil S.A. 274,628 461,492 736,120 EDP Renewables North America, LLC. (EDPR NA) 4,639,277 2,088,837 6,728,114 EDP Renewables Canada, Ltd 80,327 118,589 198,916 Parque Solar Los Cuervos. S. de R.L. de C.V. 179,197 - 179,197 Vientos de Coahuila, S.A. de C.V. 1,295 - 1,295 EDP Renewables Chile, SpA 11,183 - 11,183 Trung Son SG PTE, LTD. 13,502 - 13,502 Sunseap Group Pte. Ltd. 729,116 178,468 907,584 Total 5,928,525 2,847,386 8,775,911 The changes in value due to exchange rate fluctuations of equity instruments and the changes in fair value of hedging instruments are recognised in exchange gains/losses in the income statement. Details for 2024 and 2023 are as follows: THOUSAND EUROS GAINS/(LOSSES) 2024 EDPR NA EDPR BRASIL SUNSEAP OTHER TOTAL Investments in Group companies (Note 11) 208,006 -25,853 21,905 4,689 208,747 Hedging instruments Foreign currency derivatives (Note 11) -72,104 22,588 - 1,078 -48,438 Current account in foreign currency (Note 11) 12,355 - - -5,656 6,699 Fixed-rate debt in foreign currency (Note 11) -105,899 - -20,661 - -126,560 Other financial liabilities (Note 16a) - - -1,211 -55 -1,266 42,358 -3,265 33 56 39,182 THOUSAND EUROS GAINS/(LOSSES) 2023 EDPR NA EDPR BRASIL SUNSEAP OTHER TOTAL Investments in Group companies (Note 11) -194,631 10,378 -17,873 -5,606 -207,732 Hedging instruments Foreign currency derivatives (Note 11) 102,874 -20,997 17,829 -4,008 95,698 Current account in foreign currency (Note 11) -9,498 - - 7,253 -2,245 Fixed-rate debt in foreign currency (Note 11) 93,138 - -3,574 - 89,564 Other financial liabilities (Note 16a) - - 1,094 93 1,187 -8,117 -10,619 -2,524 -2,268 -23,528
123 EDPR Individual Annual Report 2024 Part II The instruments designated by the Company to hedge foreign currency risk arising from the investments in EDP Renewables North America, LLC, denominated in USD, comprise: A hedge consisting of EUR/USD swaps, specifically a cross interest rate swap, arranged with EDP, S.A. with a notional amount of USD 797,300 thousand (USD 1,778,816 thousand at 31 December 2023). The fair value of this hedging instrument at 31 December 2024 was EUR -32,391 thousand (EUR -30,145 thousand at 31 December 2023) and it has been recognised under non-current payables (Note 11). During 2024 an agreement of this nature was settled generating losses of EUR 41,753 thousand, recorded in the exchange differences account. At 31 December 2024, the net finance cost associated with these instruments amounted to EUR 13,159 thousand (net cost of EUR 26,864 thousand in 2023), which has been recognised under finance costs on debt with Group companies (EUR 20,674 thousand) and under revenue as financial income (EUR 7,515 thousand) in the accompanying income statement. A hedge consisting of EUR/USD swaps, specifically a cross interest rate swap, arranged with EDPR Servicios Financieros, S.A. with a notional amount of USD 870,000 thousand. The fair value of this hedging instrument at 31 December 2024 was EUR -51,086 thousand (EUR -22,981 thousand at 31 December 2023) and it has been recognised under non-current payables (Note 11). During 2023, an agreement of this nature was settled generating losses of EUR 2,409 thousand, recorded in the exchange differences account. These hedging instruments incurred a net finance cost of EUR 13,762 thousand (net cost of EUR 14,866 thousand in 2023), which has been recognised under finance costs on debt with Group companies (EUR 29,858 thousand) and under revenue as financial income (EUR 16,096 thousand) in the accompanying income statement. Current account with EDPR Servicios Financieros, S.A. At 31 December 2024, the fair value of the current account, which partially hedged the investment, amounted to USD 23,701 thousand, equivalent to EUR 22,814 thousand (USD 529,664 equivalent to EUR 479,334 thousand at 31 December 2023), which is recorded under Cash and cash equivalents on the accompanying balance sheet (Note 12). The current account generated exchange gains of EUR 12,355 thousand in 2024 (losses of EUR 9,498 thousand in 2023). During 2024, the loan received from EDP Finance BV, denominated in USD and with a notional amount of USD 221,184 thousand was liquidated, generating losses of EUR 5,720 thousand, which have been recorded under exchange differences (gains of EUR 8,962 thousand as unrealised exchange differences in 2023). Loans received from EDP Renováveis Servicios Financieros, S.A. in USD with a notional amount of USD 1,602,314 thousand (USD 3,006,333 thousand in 2023). These loans generated exchange losses in 2024 of EUR 100,179 thousand (gains of EUR 84,176 thousand in 2023). During 2024, the hedging instruments that the Company had entered into with EDP, S.A., to avoid exposure to the exchange rate risk in the investment in EDP Renováveis Brasil S.A., which is denominated in Brazilian reals, was liquidated, generating gains of EUR 30,609 thousand, which have been recorded in the exchange differences account. The fair value of this hedge at 31 December 2023 was Euros 8,021 thousand, which was recorded under current investments in Group companies and associates (see Note 11). During 2023, several contracts of this nature were settled, generating losses of Euro 10,262 thousand, which were recorded in the exchange differences account. This hedging instrument generated a net finance cost of EUR 8,378 thousand (cost of EUR 4,378 thousand in 2023), which has been recognised under finance costs on debt with Group companies (EUR 17,303 thousand) and under revenue as financial income (EUR 8,925 thousand) in the accompanying income statement. The hedging instruments designated by the Company to hedge foreign currency risk arising from the investments in Sunseap Group Pte, Ltd comprise: SGD-denominated loans received from EDP Renovaveis Servicios Financieros, S.A. during 2023 SGD for a notional SGD 1,000 thousand. These loans generated exchange losses in 2024 of EUR 20,661 thousand (losses of EUR 3,574 thousand in 2023). Liabilities associated with the acquisition of the SGD-denominated investment for SGD 58,750 thousand that are recorded under other non-current and current liabilities. The measurement of these liabilities has generated losses of EUR 1,211 thousand (losses of EUR 1,094 thousand in 2023). To hedge the currency risk arising from the exposure of the investment in EDP Renewables Canada, Ltd, denominated in Canadian Dollars, the Company has arranged a hedging instrument comprising several swaps and forward contracts with a notional value of CAD 62,900 thousand (swaps and forwards with a notional CAD 115,648 thousand in 2023). At 31 December 2024, the fair value of this hedging instrument amounted to EUR 617 thousand (EUR -797 thousand at 31 December 2023), which is recognised under current investments in Group companies and associates (EUR 619 thousand), and under current liabilities (EUR 2 thousand) (see Note 11). During 2024, several these contracts were settled, generating losses of EUR 336 thousand, recorded in the exchange differences account (exchange gains of EUR 936 thousand in 2023). These hedging instruments generated a net finance cost of EUR 569 thousand (cost of EUR 1,554 thousand in 2023), which has been recognised under finance costs on debt with Group companies (EUR 1,638 thousand) and under revenue as financial income (EUR 1,069 thousand) in the accompanying income statement.
124 EDPR Individual Annual Report 2024 Part II The Company partially financed the USD investment in the Mexican company Parque Solar Los Cuervos, S. de R.L. de C.V. using a USD-denominated current account to avoid exposure to currency risk. At 31 December 2024, the fair value of the portion of the current account that such financing amounted to USD 85,923 thousand, the equivalent of EUR 82,705 thousand (USD 195,923 thousand, equivalent to EUR 177,306 thousand at 31 December 2023), and is recorded under Cash and cash equivalents in the accompanying balance sheet (see Note 12). The current account generated exchange losses of EUR 5,365 thousand (gains of EUR 6,439 thousand in 2023). 09. Financial assets by category The classification of financial assets by category and class, as well as a comparison of the fair value and the carrying amount is as follows: 2024 THOUSAND EUROS NON-CURRENT CURRENT CARRYING AMOUNT FAIR VALUE AT FAIR VALUE TOTAL CARRYING AMOUNT FAIR VALUE AT FAIR VALUE TOTAL Financial assets at amortised cost: Loans Other financial assets 635 635 - 635 70,024 70,024 - 70,024 Trade and other receivables - - - - 129,246 129,246 - 129,246 Total 635 635 - 635 199,270 199,270 - 199,270 Financial assets at cost: Equity instrument in Group companies 13,991,913 13,991,913 - 13,991,913 - - - - Total 13,992,548 13,992,548 - 13,992,548 - - - - Financial assets at fair value through changes in profit or loss: Hedging derivatives traded on OTC markets - - - - - - 1,048 1,048 Total - - - - - - 1,048 1,048 Total financial assets 13,992,548 13,992,548 - 13,992,548 199,270 199,270 1,048 200,318 2023 THOUSAND EUROS NON-CURRENT CURRENT CARRYING AMOUNT FAIR VALUE AT FAIR VALUE TOTAL CARRYING AMOUNT FAIR VALUE AT FAIR VALUE TOTAL Financial assets at amortised cost: Other financial assets 497 497 - 497 3,939 3,939 - 3,939 Trade and other receivables - - - - 186,363 186,363 - 186,363 Total 497 497 - 497 190,302 190,302 - 190,302 Financial assets at cost: Equity instrument in Group companies 12,669,307 12,669,307 - 12,669,307 - - - - Total 12,669,307 12,669,307 - 12,669,307 - - - - Financial assets at fair value through changes in profit or loss: Hedging derivatives traded on OTC markets - - 69 69 - - 12,511 12,511 Total - - 69 69 - - 12,511 12,511 Totlcial assets 12,669,804 12,669,804 69 12,669,873 190,302 190,302 12,511 202,813
125 EDPR Individual Annual Report 2024 Part II Net gains and losses by category of financial assets, except for derivative instruments used to hedge foreign- currency denominated shareholdings, are as follows: THOUSAND EUROS 2024 FINANCIAL ASSETS AT AMORTISED COST, GROUP COMPANIES FINANCIAL AS- SETS AT AMORTISED COST OTHER ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS TOTAL Finance income 61,951 3 - 61,954 Dividends (Note 21a) 62,183 - - 62,183 Change in fair value of financial instruments - - 1,981 1,981 Impairment and gains/(losses) on disposal of financial instruments - - 4,134 4,134 Total 124,134 3 6,115 130,252 THOUSAND EUROS 2023 FINANCIAL AS- SETS AT AMORTISED COST, GROUP COMPANIES FINANCIAL AS- SETS AT AMORTISED COST OTHER ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS TOTAL Finance income 71,830 380 - 72,210 Dividends (Note 20b) 72,278 - - 72,278 Change in fair value of financial instruments - - 1,112 1,112 Impairment and gains/(losses) on disposal of financial instruments - - 27,800 27,800 Total 144,108 380 28,912 173,400 10. Investments and trade receivables a) Investments in Group companies and unrelated parties Details of investments in Group companies and unrelated parties are as follows: THOUSAND EUROS 2024 2023 NON- CURRENT CURRENT NON- CURRENT CURRENT GROUP Equity instruments (Note 8) 13,991,913 - 12,669,307 - Derivative financial instruments (Note 11) - 1,048 69 12,511 Loans to Group companies and associates - 70,012 - 3,927 Other financial assets 394 - 224 - Trade and other receivables - 128,826 - 185,706 Total 13,992,307 199,886 12,669,600 202,144 UNRELATED PARTIES Other financial assets 241 12 273 12 Trade and other receivables - 420 - 657 Total 241 432 273 669 Total 13,992,548 200,318 12,669,873 202,813 On 31 December 2024, the Company extended a participating loan of EUR 70,012 thousand to its subsidiary EDP Renovaveis Servicios Financieros, S.A. This loan bears interest at 3-month Euribor plus a spread ranging from 0% to 1%, depending on the borrower company's pre-tax income. The maturity date of the loan is 30 March 2025. In 2023, the Company sold the US company Principle Power Inc for EUR 8,008 thousand (USD 8,632 thousand). The investment was classified under financial assets at fair value through equity and the transaction generated losses of EUR 2,115 thousand in the income statement.
126 EDPR Individual Annual Report 2024 Part II b) Classification by maturity The classification of financial assets by maturity is as follows: 2024 THOUSAND EU- ROS 2025 2026 2027 2028 SUBSEQUENT YEARS LESS CUR- RENT PORTION TOTAL NON-CUR- RENT LESS CURRENT PORTION Derivative financial instru- ments 1,048 - - - - -1,048 - Other financial assets 70,024 - - - 635 -70,024 635 Trade and other receivables 129,246 - - - - -129,246 - Total 200,318 - - - 635 -200,318 635 2023 THOUSAND EUROS 2024 2025 2026 2027 SUBSEQUENT YEARS LESS CUR- RENT PORTION TOTAL NON- CURRENT Derivative financial instruments 12,511 69 - - - -12,511 69 Other financial assets 3,939 - - - 497 -3,939 497 Trade and other receivables 186,363 - - - - -186,363 - Total 202,813 69 - - 497 -202,813 566 c) Trade and other receivables Details of trade and other receivables are as follows: CURRENT THOUSAND EUROS 2024 2023 GROUP: Customers 62,921 67,845 Other receivables 65,905 117,861 Total 128,826 185,706 UNRELATED PARTIES: Other receivables 420 657 Other tax receivables (Note 18) - 1 Total 420 658 Total 129,246 186,364 The carrying value of these assets does not differ significantly from their fair value. Trade receivables from Group companies in 2024 and 2023 essentially includes the balance receivable under management support service contracts entered into with EDP Renewables Europe S.L.U. and EDP Renewables North America, LLC in 2013 (see Note 20b). Other Group receivables are mainly in respect of income tax of EUR 46,184 thousand (EUR 51,978 thousand in 2023) (see Note 18). In addition, the dividend receivable from EDP Renovaveis Brasil, S.A. amounted to EUR 65,879 thousand at 31 December 2023. d) Exchange differences recognised in profit or loss in relation to financial assets Details of exchange differences recognised in profit or loss in relation to financial instruments, distinguishing between settled and outstanding transactions, are as follows: 2024 2023 THOUSAND EUROS SETTLED OUTSTAND- ING SETTLED OUTSTAND- ING Hedged investments in Group companies (Note 8) - 208,747 - -207,732 Hedging derivatives of net investments in foreign operations 30,386 -6,774 10,158 204,570 Other financial assets 437 -4,138 275 1,062 Cash and cash equivalents - 6,581 - -2,465 Total financial assets 30,823 204,416 10,433 -4,565
127 EDPR Individual Annual Report 2024 Part II 11. Derivative financial instruments Details of derivative financial instruments are as follows: 2024 ASSETS LIABILITIES THOUSAND EUROS NON-CUR- RENT CURRENT NON-CUR- RENT CURRENT HEDGING DERIVATIVES a) Fair value hedges Net investment hedging swaps (Note 8) - 619 83,477 - Net investment hedging forwards (see Note 8) - - - 2 Total - 619 83,477 2 DERIVATIVES AT FAIR VALUE THROUGH CHANGES IN PROFIT OR LOSS c) Foreign currency derivatives FX forward - 429 - 202 Total derivatives - 1,048 83,477 204 2023 ASSETS LIABILITIES THOUSAND EUROS NON-CUR- RENT CURRENT NON-CUR- RENT CURRENT HEDGING DERIVATIVES a) Fair value hedges Net investment hedging swaps (Note 8) - 7,888 34,486 19,757 Net investment hedging forwards (see Note 8) - 622 16 153 Total - 8,510 34,502 19,910 DERIVATIVES AT FAIR VALUE THROUGH CHANGES IN PROFIT OR LOSS c) Foreign currency derivatives FX forward 69 4,001 - 1,621 Total derivatives 69 12,511 34,502 21,531 Fair value of derivative financial instruments is based on quotes provided by external entities, which are compared on each reporting date to fair values available in common financial information platforms. These entities use the commonly accepted discounted cash flows techniques and data on public markets. As such, as required by accounting policies, the fair value of derivative financial instruments is classified in level 2 (see Note 25) and no changes of level occurred during this period. Fair value hedges The total amount of gains and losses on hedging instruments and on items hedged under fair value hedges of net investments in Group companies is as follows: GAINS/(LOSSES) THOUSAND EUROS 2024 2023 FORWARD EXCHANGE CONTRACTS: Investments in Group companies (Note 8) 208,747 -207,732 Foreign currency derivatives (Note 8) -48,438 95,698 Current account in foreign currency (Note 8) 6,699 -2,245 Fixed rate debt (Note 8) -126,560 89,564 Other financial liabilities (Note 8) -1,266 1,187 Total 39,182 -23,528
128 EDPR Individual Annual Report 2024 Part II Foreign currency derivatives To eliminate the exchange rate risk on the success fee recognised as a result of the acquisition of the Colombian companies (see Note 8), in 2024 and 2023, the Company has arranged several futures contracts on the US Dollar exchange rate for a notional amount of EUR 6,956 thousand, with an equivalent value of USD 7,600 thousand (EUR 59,706 thousand, equivalent to USD 65,100 thousand in 2023). The fair value of this hedge is recognised under current investments in Group companies and associates for EUR 351 thousand (EUR 243 thousand and EUR 1,075 thousand in current investments in Group companies and associates and current payables, respectively, in 2023). During 2024, contracts of this nature were settled, generating a net gain of EUR 81 thousand, which was recognised in the income statement under impairment and proceeds on disposals of equity instruments (net loss EUR 2,668 thousand in 2023). During 2024 and 2023, the Company implemented a strategy to hedge its transactional foreign exchange exposure arising from the proposed acquisition of EaSup in Vietnam. This involved arranging several futures contracts on the USD Dollar exchange rate for a notional value of USD 4,523 thousand equivalent to 111,767 million Vietnamese Dongs (VND) (USD 4,418 thousand, equivalent to VND 106,123 million in 2023). The fair value of these instruments amounts to EUR 195 thousand at 31 December 2024 and is recognised under current liabilities (EUR 81 thousand at 31 December 2023). During 2024 contracts of this nature were settled, generating a net loss of EUR 108 thousand, which was recognised in the income statement under impairment and proceeds on disposals of equity instruments (net gain of EUR 33 thousand in 2023). During 2024, the Company arranged several futures contracts on the Canadian Dollar (CAD) exchange rate that offset several existing contracts, in order to reduce the hedge accounting impact. The original contract thus ceased to serve as a hedge for the CAD holding. The fair value of these instruments at 31 December 2024 amounted to EUR 71 thousand and is recorded under current investments in Group companies and associates and current payables in the amount of EUR 78 thousand and EUR 7 thousand, respectively (EUR 2,138 thousand and EUR 154 thousand at 31 December 2023). During 2024 contracts of this nature were settled, generating a net gain of EUR 1,964 thousand that was recorded in the income statement under impairment and proceeds on disposals of equity instruments (net gain of EUR 994 thousand in 2023). During 2023, the Company arranged several futures contracts on the USD exchange rate that offset several existing contracts, in order to reduce the hedge accounting impact. The original contract thus ceased to serve as a hedge for the USD holding. The fair value of these instruments at 31 December 2023 was EUR 345 thousand, which was recorded under current investments in Group companies and associates. During 2024 contracts of this nature were settled, generating a net gain of EUR 351 thousand that was recorded in the income statement under impairment and proceeds on disposals of equity instruments (net gain of EUR 7,816 thousand in 2023). During 2023, the Company arranged several futures contracts on the Singapore Dollar (SGD) exchange rate that offset several existing contracts, in order to reduce the hedge accounting impact. The original contract thus ceased to serve as a hedge for the SGD holding. The fair value of these instruments at 31 December 2023 was EUR 1,033 thousand, which was recorded under current investments in Group companies and associates (EUR 1,344 thousand) and current payables (EUR 311 thousand). During 2024, contracts of this nature were settled, generating a net gain of EUR 1,056 thousand that was recorded in the income statement under impairment and proceeds on disposals of equity instruments. 12. Cash and cash equivalents Details of cash and cash equivalents are as follows: THOUSAND EUROS 2024 2023 Cash in hand and at banks 365 879 Other cash equivalents 105,519 860,351 Total 105,884 861,230 At 31 December 2024, the line item Cash and cash equivalents included the Dollar current account balance with EDPR Servicios Financieros S.A. for EUR 105,519 thousand (EUR 479,334 thousand in 2022) in accordance with the terms of the contract signed by the parties on 1 June 2015. In addition, at 31 December 2023, this line item also included the Euro current account balance of EUR 381,017 thousand. 13. Capital and reserves The composition of and movements in equity during 2024 and 2023 are shown in the statement of changes in equity. Subscribed capital On 3 March 2023, EDPR carried out a capital increase by issuing 50,968,400 ordinary shares, each with a par value of EUR 50 and a subscription price of EUR 14.62 per share, with the exclusion of the pre-emptive subscription rights of the Company's shareholders. The new shares are equivalent to EDPR’s other shares and confer on their holders, as from the date of their respective issue, the same rights as the other shares existing prior to the capital increase.
129 EDPR Individual Annual Report 2024 Part II On 4 April 2023, at their annual general meeting the shareholders approved the distribution of 2022 profits in the form of a scrip dividend that was executed as an increase in the share capital, with the issue of new ordinary shares with a par value of EUR 5 each, with a charge to the share premium. The scrip dividend was executed by 92.32% of the shareholders. This meant the Company has increased its share capital with the issue of 12,451,539 new shares, each with a par value of EUR 5 with a charged to the share premium. The new shares were fungible with EDPR’s other shares and conferred on their holders, as from the date of their respective issue, the same rights as the other shares existing prior to the capital increase. The capital increase was completed on 25 May 2023. The shareholders who did not execute the scrip dividend sold their subscription rights to the Company for a total of EUR 20,580 thousand and received that amount as a dividend against the share premium. On 4 April 2024, at their annual general meeting the shareholders approved the distribution of 2023 profits in the form of a scrip dividend that was executed as an increase in the share capital, with the issue of new ordinary shares with a par value of EUR 5 each, with a charge to the share premium. The scrip dividend was executed by 97.69% of the shareholders. This meant the Company increased its share capital with the issue of 15,877,770 new shares, each with a par value of EUR 5 with a charge to the share premium. The new shares are fungible with EDPR’s other shares and will confer on their holders, as from the date of their respective issue, the same rights as the other shares existing prior to the capital increase. The capital increase was completed on 22 May 2024. The shareholders who did not execute the scrip dividend have sold their subscription rights to the Company for a total of EUR 4,759 thousand and received that amount as a dividend against the share premium. As a result, the share capital of EDPR at 31 December 2024 amounted to EUR 5,199,279, represented by 1,039,855,871 shares, each with a par value of EUR 5, all of a single class and series. The shares are bearer shares represented by book entries. The company is entitled to request to have its shares listed for trading and all the shareholders are registered in the relevant book-entry records. These shares have the same voting and profit-sharing rights and are freely transferable. EDP Renováveis, S.A. shareholder's structure as at 31 December 2024 is shown below: COMPANY NUMBER OF SHARES PERCENTAGE OF OWNER- SHIP EDP, S.A. Sucursal en España 741,377,952 71.30% Others (shares quoted on the Lisbon stock exchange) 298,477,919 28.70% 1,039,855,871 100.00% EDP Renováveis, S.A. shareholder's structure as at 31 December 2023 is shown below: COMPANY NUMBER OF SHARES PERCENTAGE OF OWNER- SHIP EDP, S.A. Sucursal en España 729,793,922 71.27% Others (shares quoted on the Lisbon stock exchange) 294,184,179 28.73% 1,023,978,101 100.00% Share premium This reserve is freely distributable Reserves Details of reserves and movement during the year reflect the proposed distribution of profit approved by the shareholders at their annual general meeting (see Note 3). At 31 December, reserves are as follows: THOUSAND EUROS 2024 2023 RESERVES: Legal reserve 214,828 214,828 Voluntary reserves 1,395,111 1,395,111 Negative reserve for costs of the public share offering -53,475 -53,370 1,556,464 1,556,569 Legal reserve Pursuant to the recast text of the Spanish Companies Act (Ley de Sociedades de Capital), in force since 1 September 2010, companies are required to transfer 10% of profits for the year to a legal reserve until this reserve reaches 20% of share capital. The legal reserve may be used to increase capital. Except for this purpose, until the reserve exceeds 20% of share capital it may only be used to offset losses if no other reserves are available. At 31 December 2024 and 2023 the amount of this reserve was EUR 214,828 thousand. This reserve has not yet been appropriated the minimum amount required by the Spanish Companies Act.
130 EDPR Individual Annual Report 2024 Part II Voluntary reserves These reserves are freely distributable. Negative reserve for costs of the public share offering In the public share offering the Company incurred a number of expenses associated with the capital increase, which have been recognised in this line item net of the tax effect. 14. Provisions The movement in provisions during 2024 and 2023 was as follows: THOUSAND EU- ROS BALANCE AT 31/12/22 ADDITIONS APPLICATIONS BALANCE AT 31/12/23 ADDITIONS APPLICATIONS BALANCE AT 31/12/24 NON-CURRENT: Personnel expense 2,366 300 -1,935 731 300 -273 758 CURRENT: Responsabilities - - - - 76,184 - 76,184 Total 2,366 300 -1,935 731 76,484 -273 76,942 Provisions for non-current liabilities include the Company's obligations with its employees that mature in more than 12 months. Additions are recorded under personnel costs as multi-year remuneration obligations. Provisions applied mainly reflect the reclassification of salaries payable to current liabilities. Provisions for current liabilities, includes the Company's obligations, arising as a result of the decision to stop the construction of the projects in Colombia and terminate the associated contracts, specifically, in relation to the guarantees granted by the Company, which are mostly related to interconnection contracts for wind projects and agreements with suppliers of fixed assets, and they will be payable, thus creating a present obligation for the Company. In 2024 and 2023, the amount recognised as a provision is the directors' best estimate at the reporting date of the expenditure required to settle the present obligation. 15. Financial liabilities by category The classification of financial liabilities by category and class and a comparison of the fair value with the carrying amount are as follows: 2024 NON-CURRENT CURRENT THOUSAND EUROS CARRYING AMOUNT FAIR VALUE AT FAIR VALUE TOTAL CARRYING AMOUNT FAIR VALUE AT FAIR VALUE TOTAL Financial liabilities at amor- tised cost: Group companies: Fixed rate 4,172,191 4,035,998 - 4,172,191 - - - - Floating rate - - - - 1,093,935 1,093,935 - 1,093,935 Other financial liabilities 46,837 46,837 - 46,837 74,730 74,730 - 74,730 Trade and other payables - - - - 29,631 29,631 - 29,631 Total 4,219,028 4,082,835 - 4,219,028 1,198,296 1,198,296 - 1,198,296 Financial liabilities at fair value through profit or loss: Hedging derivatives traded on OTC markets - - 83,477 83,477 - - 204 204 Total - - 83,477 83,477 - - 204 204 Total financial liabilities 4,219,028 4,082,835 83,477 4,302,505 1,198,296 1,198,296 204 1,198,500
131 EDPR Individual Annual Report 2024 Part II 2023 NON-CURRENT CURRENT THOUSAND EUROS CARRYING AMOUNT FAIR VALUE AT FAIR VALUE TOTAL CARRYING AMOUNT FAIR VALUE AT FAIR VALUE TOTAL Financial liabilities at amor- tised cost: Group companies: Fixed rate 3,908,382 3,171,013 - 3,908,382 471,660 471,660 - 471,660 Other financial liabilities 86,327 86,327 - 86,327 94,350 94,350 - 94,350 Trade and other payables - - - - 29,537 29,537 - 29,537 Total 3,994,709 3,257,340 - 3,994,709 595,547 595,547 - 595,547 Financial liabilities at fair value through profit or loss: Hedging derivatives traded on OTC markets - - 34,502 34,502 - - 21,531 21,531 Total - - 34,502 34,502 - - 21,531 21,531 Total financial liabilities 3,994,709 3,257,340 34,502 4,029,211 595,547 595,547 21,531 617,078 Net losses and gains by financial liability category are as follows: 2024 THOUSAND EUROS LIABILITIES AT AMORTISED COST, GROUP COM- PANIES LIABILITIES AT AMORTISED COST THIRD PARTIES LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS TOTAL Finance cost 263,313 606 - 263,919 Change in fair value of financial instru- ments - - 4,203 4,203 Impairment and gains/(losses) on dis- posal of financial instruments - - 952 952 Total 263,313 606 5,155 269,074 2023 THOUSAND EUROS LIABILITIES AT AMORTISED COST, GROUP COM- PANIES LIABILITIES AT AMORTISED COST THIRD PARTIES LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS TOTAL Finance cost 250,542 572 - 251,114 Change in fair value of financial in- struments - - 2,064 2,064 Impairment and gains/(losses) on dis- posal of financial instruments - - 3,730 3,730 Total 250,542 572 5,794 256,908 16. Financial debts and trade payables a) Debts with Group companies and unrelated parties Details of debt with Group companies and Unrelated parties are as follows: 2024 2023 THOUSAND EUROS NON-CUR- RENT CURRENT NON-CUR- RENT CURRENT GROUP Debt with Group Companies (Note 18b) 4,172,191 1,093,935 3,908,382 471,660 Interest - 69,985 - 67,125 Derivative financial instruments (Note 11) 83,477 204 34,502 21,531 Suppliers of fixed assets - 2,725 - 39 Total 4,255,668 1,166,849 3,942,884 560,355 UNRELATED PARTIES Suppliers of fixed assets - 919 - 370 Other financial liabilities 46,837 1,101 86,327 26,816 Total 46,837 2,020 86,327 27,186 Total 4,302,505 1,168,869 4,029,211 587,541
132 EDPR Individual Annual Report 2024 Part II Other non-current and current financial liabilities at 31 December 2024 and 2023 mainly relate to the success fees and the pending liabilities arising from the acquisitions of the companies as indicated below: 2024 NON-CURRENT THOUSAND EUROS EUROS US DOLLARS SINGAPORE DOLLARS Sunseap Group Pte. Ltd 41,384 - 58,617 Parque Solar Fotovoltaico El Copey, S.A.S. E.S.P. 5,394 5,605 - Other financial liabilities 59 - - Total 46,837 5,605 58,617 2024 CURRENT THOUSAND EUROS EUROS US DOLLARS SINGAPORE DOLLARS Trung Son SG PTE, LTD. 928 964 - Other financial liabilities 173 - - Total 1,101 964 - 2023 NON-CURRENT THOUSAND EUROS EUROS US DOLLARS SINGAPORE DOLLARS Solar Power Solutions, S.A.S. E.S.P. 41,022 45,329 - Sunseap Group Pte. Ltd 40,174 - 58,617 Parque Solar Fotovoltaico El Copey, S.A.S. E.S.P. 5,072 5,605 - Other financial liabilities 59 - - Total 86,327 50,934 58,617 2023 CURRENT THOUSAND EUROS EUROS US DOLLARS SINGAPORE DOLLARS Eolos Energía, S.A.S. E.S.P. 14,778 16,330 - Vientos del Norte S.A.S. E.S.P. 5,042 5,571 - Solar Power Solutions, S.A.S. E.S.P. 5,860 6,475 - Sunseap Group Pte. Ltd 91 - 133 Trung Son SG PTE, LTD. 872 964 - Other financial liabilities 173 - - Total 26,816 39,844 133
133 EDPR Individual Annual Report 2024 Part II b) Main characteristics of debt The terms and conditions of loans and other debts are summarised below: 2024 THOUSAND EUROS CARRYING AMOUNT TYPE CURRENCY EFFECTIVE RATE NOMINAL RATE MATURITY NOMINAL AMOUNT CURRENT NON-CURRENT EDPR Servicios Financi- eros USD 3.75% 3.75% 2030 239,572 - 239,572 EDPR Servicios Financi- eros USD 3.02% 3.02% 2030 202,137 - 202,137 EDPR Servicios Financi- eros USD 3.25% 3.25% 2031 497,401 - 497,401 EDPR Servicios Financi- eros EUR 1.91% 1.91% 2032 325,428 - 325,428 EDPR Servicios Financi- eros EUR 2.15% 2.15% 2029 448,431 - 448,431 EDPR Servicios Financi- eros SGD 4.83% 4.83% 2028 706,015 - 706,015 EDPR Servicios Financi- eros USD 5.88% 5.88% 2027 128,137 - 128,137 EDPR Servicios Financi- eros USD 5.84% 5.84% 2031 234,431 - 234,431 EDPR Servicios Financi- eros USD 5.81% 5.81% 2030 240,639 - 240,639 EDPR Servicios Financi- eros EUR 3.31% 3.31% 2028 330,000 - 330,000 EDPR Servicios Financi- eros EUR 3.42% 3.42% 2029 270,000 - 270,000 EDPR Servicios Financi- eros EUR 3.54% 3.54% 2030 550,000 - 550,000 Current account EUR * * 2025 1,093,935 1,093,935 - Total 5,266,126 1,093,935 4,172,191 * The amount of the current account corresponds to the Company's debt to EDPR Servicios Financieros, S.A., which accrues daily interest settled monthly. The lending rate is 1-month Euribor plus a spread of 0.825% (1-month Euribor plus a spread between 0.825% and 0.806% in 2023). 2023 THOUSAND EU- ROS CARRYING AMOUNT TYPE CUR- RENCY EFFECTIVE RATE NOMINAL RATE MATURITY NOMINAL AMOUNT CURRENT NON-CURRENT EDP Finance USD 4.75% 4.75% 2024 200,167 200,167 - EDPR Servicios Fi- nancieros USD 4.51% 4.51% 2024 271,493 271,493 - EDPR Servicios Fi- nancieros USD 3.12% 3.12% 2025 136,848 - 136,848 EDPR Servicios Fi- nancieros USD 3.12% 3.12% 2025 88,393 - 88,393 EDPR Servicios Fi- nancieros USD 3.75% 3.75% 2030 225,241 - 225,241 EDPR Servicios Fi- nancieros USD 2.22% 2.22% 2026 190,045 - 190,045 EDPR Servicios Fi- nancieros USD 3.02% 3.02% 2030 190,045 - 190,045 EDPR Servicios Fi- nancieros USD 3.25% 3.25% 2031 467,647 - 467,647 EDPR Servicios Fi- nancieros USD 2.31% 2.31% 2026 251,810 - 251,810 EDPR Servicios Fi- nancieros EUR 1.91% 1.91% 2032 325,428 - 325,428 EDPR Servicios Fi- nancieros EUR 2.15% 2.15% 2029 448,431 - 448,431 EDPR Servicios Fi- nancieros SGD 5.62% 5.62% 2028 685,354 - 685,354 EDPR Servicios Fi- nancieros USD 5.88% 5.88% 2027 452,489 - 452,489 EDPR Servicios Fi- nancieros USD 5.83% 5.83% 2031 220,407 - 220,407 EDPR Servicios Fi- nancieros USD 5.81% 5.81% 2030 226,244 - 226,244 Total 4,380,042 471,660 3,908,382 During 2024, the Company contracted new fixed-rate loans in EUR with EDP Renovaveis Servicios Financieros, S.A. of EUR 1,150,000 thousand. It also repaid USD 1,404,020 thousand in loans it had been granted. During 2023, the Company contracted new fixed-rate loans in USD and SGD with EDP Renovaveis Servicios Financieros, S.A. of USD 993,550 thousand and SGD 1,000,000 thousand, respectively.
134 EDPR Individual Annual Report 2024 Part II c) Trade and other payables Details of trade and other payables are as follows: THOUSAND EUROS CURRENT 2024 2023 GROUP Payables 12,667 13,021 Total 12,667 13,021 UNRELATED PARTIES Payables 8,898 8,936 Salaries payable 8,066 7,580 Other tax payables (Note 18) 1,349 1,257 Total 18,313 17,773 Total 30,980 30,794 The carrying value of these liabilities does not differ significantly from their fair value. The balance of payables to Group companies in 2024 and 2023 mainly comprises expenses invoiced by EDP, S.A. and EDP, S.A. Sucursal en España for management services. It also includes value added tax payable of EUR 972 thousand (EUR 4,112 thousand in 2023) arising as a result of the Company being part of the tax consolidation group headed by EDP, S.A. Sucursal en España (see Note 18). The balance of payables to unrelated parties at 31 December 2024 and 2023 mainly includes the grant received from the European Climate, Infrastructure and Environment Executive Agency (CINEA) for the development and operation of a 100 MW electrolyser, a project coordinated by the Company. At 31 December 2024, this amount stood at EUR 6,314 thousand (EUR 5,992 thousand in 2023). d) Classification by maturity The classification of financial liabilities by maturity is as follows: 2024 THOUSAND EUROS 2025 2026 2027 2028 SUBSEQUENT YEARS LESS CURRENT PORTION TOTAL NON- CURRENT Derivative financial instruments 204 - 9,682 - 73,795 -204 83,477 Debt with Group Companies and associates 1,163,920 - 128,137 1,036,015 3,008,039 -1,163,920 4,172,191 Suppliers of fixed assets 3,644 - - - - -3,644 - Other financial liabilities 1,101 46,837 - - - -1,101 46,837 Trade and other payables 29,631 - - - - -29,631 - Total financial liabilities 1,198,500 46,837 137,819 1,036,015 3,081,834 -1,198,500 4,302,505 2023 THOUSAND EUROS 2024 2025 2026 2027 SUBSEQUENT YEARS LESS CURRENT PORTION TOTAL NON- CURRENT Derivative financial instruments 21,531 16 - 3,956 30,530 -21,531 34,502 Debt with Group Companies and associates 539,084 225,241 441,855 452,489 2,788,797 -539,084 3,908,382 Suppliers of fixed assets 408 - - - - -408 - Other financial liabilities 26,816 86,327 - - - -26,816 86,327 Trade and other payables 29,537 - - - - -29,537 - Total financial liabilities 617,376 311,584 441,855 456,445 2,819,327 -617,376 4,029,211
135 EDPR Individual Annual Report 2024 Part II e) Exchange differences recognised in profit or loss in relation to financial liabilities Details of exchange differences recognised in profit or loss in relation to financial instruments, distinguishing between settled and outstanding transactions, are as follows: THOUSAND EUROS 2024 2023 SETTLED OUTSTANDING SETTLED OUTSTANDING Non-current debt with Group companies and associates -53,268 -73,292 4,977 84,588 Hedging derivatives of net investments in foreign operations -41,866 -30,184 -85,885 -33,144 Other financial liabilities - -5,833 12 4,033 Trade and other payables -44 -10 -20 10 Total financial liabilities -95,178 -109,319 -80,916 55,487 17. Late payments to suppliers Final provision two of Law 31/2014 of 3 December 2014, amending the Spanish Companies Act to introduce improvements to corporate governance, amends additional provision three of Law 15/2010 of 5 July 2010, which amended Law 3/2004 of 29 December 2004 establishing measures to combat late payment in business, to require that all commercial companies expressly disclose average supplier payment periods in the notes to the annual accounts. The following table shows the average supplier payment period, transactions paid ratio, transactions payable ratio, total payments made and total payments outstanding at the reporting date: 2024 2023 DAYS DAYS Average supplier payment period 16 27 Transactions paid ratio 17 27 Transactions payable ratio 6 18 Total payments made 84,264 85,597 Total payments outstanding 10,073 4,891 The total number of invoices paid within the statutory time limit was 10,020 (9,797 in 2023), or 98% of the total invoices paid (97% in 2023). The aggregate value of those invoices was EUR 81,450 thousand (EUR 80,264 thousand in 2023), or 97% of the total payments (94% in 2023). 18. Taxation Tax payables and receivables are shown below: 2024 2023 THOUSAND EUROS NON-CURRENT CURRENT NON-CURRENT CURRENT ASSETS Deferred tax assets 72,039 - 31,190 - Other tax payables - - - 1 Total 72,039 - 31,190 1 LIABILITIES Deferred tax liabilities 113,715 - 87,590 - Social Security - 731 - 717 Withholdings - 618 - 540 Total 113,715 1,349 87,590 1,257 The Company files consolidated income tax and value added tax returns. The parent of this consolidated tax group is EDP, S.A. Sucursal en España. At 31 December 2024, the Company recorded income tax receivable of EUR 46,184 thousand (EUR 51,978 thousand in 2023) and VAT payable of EUR 972 thousand (EUR 4,112 thousand in 2023). These balances have been included under Receivables from Group companies and associates and Payables to Group companies and associates in the balance sheet, respectively (see Notes 10c and 16c). During 2024, the inspection carried out by the tax authorities for the years 2017 to 2019 in respect of income tax for the tax consolidation group was completed, with no significant impact on the Company.
136 EDPR Individual Annual Report 2024 Part II In accordance with the applicable legislation, taxes cannot be considered definitive until they have been inspected by the tax authorities or the limitation period has elapsed. Taking into account the aforementioned inspection period, at 31 December 2024 the Company had the following main applicable taxes open to inspection: TAX YEARS OPEN TO INSPECTION Corporate income tax 2020-2023 Value added tax 2021-2024 Personal income tax 2021-2024 Capital gains tax 2021-2024 Tax on economic activities 2021-2024 Social Security 2021-2024 Non-residents 2021-2024 Given the different possible interpretations of tax legislation, additional tax liabilities could arise in the event of an inspection. In any event, the Company's directors do not consider that any such liabilities that could arise would have a material effect on the annual accounts. Income tax The Company files consolidated tax returns as part of the Group headed by EDP, S.A. Sucursal en España. The reconciliation of net income and expenses for the year with taxable income is shown below: 2024 INCOME STATEMENT INCOME AND EXPENSE RECOGNISED IN EQUITY THOUSAND EU- ROS INCREASES DECREASES NET INCREASES DECREASES NET TOTAL Profit/(loss) for the year -346,278 -346,278 Corporate income tax 31,336 31,336 Profit before in- come tax -377,614 -377,614 PERMANENT DIFFERENCES Individual com- pany 246,611 -59,074 187,437 - - - 187,437 Consolidation ad- justments - - - - - - - TEMPORARY DIFFERENCES: Originating in cur- rent year 8,111 - 8,111 - - - 8,111 Originating in prior years - -38,862 -38,862 - - - -38,862 Taxable income -220,828 -220,828 2023 INCOME STATEMENT INCOME AND EXPENSE RECOGNISED IN EQUITY THOUSAND EU- ROS INCREASES DECREASES NET INCREASES DECREASES NET TOTAL Profit/(loss) for the year -247,716 -247,716 Corporate income tax 28,687 28,687 Profit before in- come tax -276,403 -276,403 PERMANENT DIFFERENCES Individual com- pany 159,870 -23,457 136,413 - - - 136,413 Consolidation ad- justments - - - - - - - TEMPORARY DIFFERENCES: Originating in cur- rent year 9,651 - 9,651 - - - 9,651 Originating in prior years - -38,630 -38,630 - - - -38,630 Taxable income -168,969 -168,969 Increases in permanent differences in 2024 and 2023 mainly reflect costs relating to impairment of investments in Group companies (EUR 166,861 thousand and EUR 159,697 thousand, respectively) (see Note 8).
137 EDPR Individual Annual Report 2024 Part II Increases in temporary differences in 2024 and 2023 reflect costs relating to the recognition of the accrual of expenses (invoices to be received and employee accruals), which are considered to be non-deductible expenses. Decreases in temporary differences in 2024 and 2023 mainly reflect the tax amortisation of the financial goodwill of EDPR NA (EUR 29,163 thousand) and the reversal of the amortisation limit (EUR 69 thousand). They also reflect the reversal of non-deductible expenses from previous years of EUR 9,629 thousand (EUR 9,397 thousand in 2023). The relationship between tax income and accounting income for the year is as follows: 2024 THOUSAND EUROS GAINS AND LOSSES EQUITY TOTAL Profit/(loss) for the year before tax -377,614 - -377,614 Tax at 25% -94,404 - -94,404 Non-deductible expenses Provisions 61,653 - 61,653 Dividends -14,769 -14,769 Prior years’ adjustments 16,097 - 16,097 Withholdings at source 87 - 87 Double taxation deductions applied - - - Income tax expense/(income) -31,336 - -31,336 2023 THOUSAND EUROS GAINS AND LOSSES EQUITY TOTAL Profit/(loss) for the year before tax -276,403 - -276,403 Tax at 25% -69,101 - -69,101 Non-deductible expenses Provisions 39,465 - 39,465 Dividends -5,362 -5,362 Prior years’ adjustments 1,359 - 1,359 Withholdings at source 8,049 - 8,049 Double taxation deductions applied -3,097 - -3,097 Income tax expense/(income) -28,687 - -28,687 Further details of income tax are as follows: THOUSAND EUROS 2024 2023 CURRENT TAX Present year -55,207 -42,242 Withholdings at source 87 8,049 Prior years’ adjustments 13,739 1,359 Tax loss carryforwards applied -2,834 -6,639 Double taxation deductions applied - -3,097 Total -44,215 -42,570 DEFERRED TAX Non-deductible expenses 380 -64 Expense for reduction in deferred tax assets 2,834 6,639 Tax amortisation of EDPR NA goodwill 7,291 7,291 Non-deductible amortisation 17 17 Prior years’ adjustments -16,477 - OTHER 18,834 - Total 12,879 13,883 Total -31,336 -28,687
138 EDPR Individual Annual Report 2024 Part II Details of deferred tax assets and liabilities by type of asset and liability are as follows: ASSETS LIABILITIES NET THOUSAND EUROS 2024 2023 2024 2023 2024 2023 Tax loss carryforwards 69,742 28,496 - - 69,742 28,496 Tax amortisation of EDPR NA goodwill - - -94,881 -87,590 -94,881 -87,590 Non-deductible expenses 2,273 2,653 - - 2,273 2,653 Non-deductible amortisation 24 41 - - 24 41 OTHER - - -18,834 - -18,834 - Total assets/liabilities 72,039 31,190 -113,715 -87,590 -41,676 -56,400 The movement in deferred tax assets and liabilities in 2024 and 2023 is as follows: THOUSAND EUROS BAL- ANCE AT 31/12/22 ADDITIONS DISPOS- ALS BAL- ANCE AT 31/12/23 ADDITIONS DISPOS- ALS BAL- ANCE AT 31/12/24 ASSETS Tax loss carryfor- wards 35,135 - -6,639 28,496 44,080 -2,834 69,742 Non-deductible ex- penses 2,589 2,413 -2,349 2,653 2,027 -2,407 2,273 Non-deductible amortisation 58 - -17 41 - -17 24 Total 37,782 2,413 -9,005 31,190 46,107 -5,258 72,039 LIABILITIES Tax amortisation of EDPR NA goodwill -80,299 -7,291 - -87,590 -7,291 - -94,881 Cash flow hedges -1,674 - 1,674 - - - - OTHER - - - - -18,834 - -18,834 Total -81,973 -7,291 1,674 -87,590 -26,125 - -113,715 In 2024, the Company recognised tax credits amounting to Euro 110,416 thousand (tax liability of Euros 27,603 thousand) and reversed 10% of the tax credits originated in the previous year of Euros 11,336 thousand (tax liability of EUR 2,834 thousand). It also recognised EUR 65,908 thousand in tax credits relating to prior years (tax liability of EUR 16,477 thousand). During 2023, the Company reversed tax credits relating to non-deductible finance expenses arising in previous years amounting to EUR 26,556 thousand (tax liability of EUR 6,639 thousand). Details of deferred tax assets and liabilities that are expected to be realised or reversed in periods of more than 12 months are as follows: THOUSAND EUROS 2024 2023 Tax loss carryforwards 69,742 28,496 Non-deductible amortisation 24 41 Tax amortisation of EDPR NA goodwill -94,881 -87,590 OTHER -18,834 - Net -43,949 -59,053 19. Environmental information Given that the Company's activities to develop, construct and operate energy production facilities are carried out through Group companies rather than directly, the Company does not consider it necessary to make investments to prevent or correct any impact on the environment or make any environmental provisions. These annual accounts do not include any environmental costs. The directors consider that no significant environmental contingencies exist. 20. Related party balances and transactions Related party balances Balances receivable from and payable to Group companies and related parties, including key management personnel and directors, and the main details of these balances, are disclosed in Notes 10 and 16a.
139 EDPR Individual Annual Report 2024 Part II Details of those balances by category are as follows: 2024 THOUSAND EUROS PARENT GROUP COMPANIES/ ASSOCIATES TOTAL ASSETS Non-current investments in Group companies - 13,991,913 13,991,913 Other financial assets - 394 394 Derivatives - - - Total non-current assets - 13,992,307 13,992,307 Trade and other receivables 3,561 125,265 128,826 Derivatives 1,048 - 1,048 Other financial assets - 70,012 70,012 Cash - 105,519 105,519 Total current assets 4,609 300,796 305,405 Total 2024 4,609 14,293,103 14,297,712 LIABILITIES Non-current debt (derivatives) 32,391 51,086 83,477 Non-current debt with Group companies - 4,172,191 4,172,191 Total non-current liabilities 32,391 4,223,277 4,255,668 Current debt (derivatives) 204 - 204 Current debt with Group companies 7,937 1,158,708 1,166,645 Trade and other payables 3,973 8,694 12,667 Total current liabilities 12,114 1,167,402 1,179,516 Total 2024 44,505 5,390,679 5,435,184 2023 THOUSAND EUROS PARENT GROUP COMPA- NIES/ASSOCIATES TOTAL ASSETS Non-current investments in Group companies - 12,669,307 12,669,307 Other financial assets - 224 224 Derivatives 69 - 69 Total non-current assets 69 12,669,531 12,669,600 Trade and other receivables 4,760 180,946 185,706 Derivatives 12,511 - 12,511 Other financial assets - 3,927 3,927 Cash - 860,351 860,351 Total current assets 17,271 1,045,224 1,062,495 Total 2024 17,340 13,714,755 13,732,095 LIABILITIES Non-current debt (derivatives) 11,521 22,981 34,502 Non-current debt with Group companies - 3,908,382 3,908,382 Total non-current liabilities 11,521 3,931,363 3,942,884 Current debt (derivatives) 21,531 - 21,531 Current debt with Group companies 7,937 530,887 538,824 Trade and other payables 10,566 2,455 13,021 Total current liabilities 40,034 533,342 573,376 Total 2024 51,555 4,464,705 4,516,260 At 31 December 2024 and 2023, all derivative financial instruments held by the Company had been arranged with Group companies.
140 EDPR Individual Annual Report 2024 Part II Related party transactions The Company's transactions with related parties, at market value, are as follows: 2024 THOUSAND EUROS PARENT GROUP COMPA- NIES/ASSOCIAT ES DIRECTORS TOTAL INCOME Other services provided - 87,561 - 87,561 Other income - 28 - 28 Dividends (Notes 9 and 21a) - 62,183 - 62,183 Finance income (Note 9) 17,509 44,442 - 61,951 Impairment and gains/(losses) on disposal of fi- nancial instruments (Notes 9 and 15) 3,182 - - 3,182 Total 20,691 194,214 - 214,905 EXPENSES External services -35,614 -6,109 - -41,723 Salaries - - -926 -926 Finance cost (Note 15) -41,359 -221,954 - -263,313 Change in fair value of financial instruments (Notes 9 and 15) -2,222 - - -2,222 Total -79,195 -228,063 -926 -308,184 2023 THOUSAND EUROS PARENT GROUP COMPA- NIES/ASSOCIAT ES DIRECTORS TOTAL INCOME Other services provided - 87,971 - 87,971 Other income 1,547 2,858 - 4,405 Dividends (Notes 9 and 21a) - 72,278 - 72,278 Finance income (Note 9) 11,085 60,745 - 71,830 Impairment and gains/(losses) on disposal of fi- nancial instruments (Notes 9 and 15) 6,175 17,895 - 24,070 Total 18,807 241,747 - 260,554 EXPENSE External services -33,115 -2,831 - -35,946 Salaries - - -785 -785 Finance cost (Note 15) -45,673 -204,869 - -250,542 Change in fair value of instruments (Notes 9 and 15) -952 - - -952 Total -79,740 -207,700 -785 -288,225 Other services rendered basically arise from two management support service contracts arranged with EDP Renewables Europe S.L.U. and EDP Renewables North America, LLC in 2013. Dividends for 2024 include dividends received from Ocean Wind (EDP Renovaveis Brasil, S.A., mainly in 2023). Operating lease expenses and royalties essentially reflect the lease payments for the Company's offices. Other services received comprise various management services, specifically for the loan of personnel and other items. All transactions with related parties take place on an arm’s length basis. Information on the company's directors and executive committee At 31 December 2024, the members of the Board of Directors of the Company and of Board Committees held 356 shares of the Company (351 at 31 December 2023).
141 EDPR Individual Annual Report 2024 Part II Under the Company's bylaws, the compensation of the members of the Board of Directors is proposed to the Board by the Nominations, Remuneration and Corporate Governance Committee, based on the overall amount of compensation authorised by the shareholders in general meeting. The Board of Directors approves the distribution and the specific amount to be paid to each director based on the proposal. In 2024, the directors of the Company received remuneration of EUR 926 thousand (EUR 785 thousand in 2023) for their directorships. The above amount refers to the activities carried out by the directors as members of the Board of Directors and their membership/chairmanship of Board Committees. Furthermore, EDPR signed an Executive Management Services Agreement with EDP, under which EDP bears the cost of the services performed by its executive and non-executive directors, who are Miguel Stilwell d’Andrade, Rui Teixeira, Miguel Setas (until April 2023), Vera Pinto Pereira (until April 2024) and Ana Paula Marques (until April 2024). This corporate governance remuneration practice is in line with the model adopted by the EDP Group, in which executive directors of EDP receive no remuneration directly from the Group companies on whose governing bodies they serve, but rather through EDP. Under this contract, EDPR must pay EDP for the services performed by the executive directors and non- executive directors. The amount owed under the contract for management services provided by EDP in 2024 is EUR 1,433 thousand (EUR 1,862 thousand in 2023), of which EUR 1,401 thousand is for management services provided by the executive members (EUR 1,710 thousand in 2023) and EUR 32 thousand for management services provided by the non-executive members (EUR 152 thousand in 2023). The retirement savings plan for the members of the management team who also hold directorships operates as a retirement supplement of between 3% to 6% of the annual salaries. The percentage is defined according to the retirement savings plan applicable in their home countries. During 2024, the Management Team was composed of Miguel Stilwell d'Andrade – CEO; Rui Teixeira – CFO; Duarte Bello – COO EU&LATAM; Bautista Rodríguez – CTO&Business Offshore (through 27 February 2024); Sandhya Ganapathy – COO NA; Pedro Vasconcelos – COO Iberia & APAC; Ana Paula Marques – COO Asset operations platform (as from 27 February 2024) and Vera Pinto Pereira – COO Client Solutions platform (as from 27 February 2024). The remuneration at 31 December 2024 of the members included in the service agreement with EDP, S.A. has been 2,742 miles of euros. This is the import corresponding to the services provided and invoiced by EDP, S.A. to EDPR. These members are Miguel Stilwell d'Andrade, Rui Teixeira, Pedro Vasconcelos, Vera Pinto Pereira and Ana Paula Marques, who are also members of the Executive of the Board of Directors of EDP, S.A. The remuneration at 31 December 2024 of the directors not included in the service contract with EDP is as follows: THOUSAND EUROS 2024 2023 Salaries and other remuneration 3,007 2,967 Retirement saving plans 37 75 Life insurance premiums 7 7 Total 3,051 3,049 Additionally they received the following non-monetary benefits: EUR 65 thousand in respect of the retirement savings plan (as described above), company car and health insurance in 2024 (EUR 116 thousand in 2023). The directors and executive committee have not received any loans or advances nor has the Company extended any guarantees on their behalf. The Company has a civil liability insurance policy that covers its directors. The Company recorded an expense of EUR 89 thousand in respect of that policy in 2024 (EUR 88 thousand in 2023). Transactions outside the ordinary course of business or under terms differing from market conditions carried out by the directors of the Company. In 2024 and 2023, the directors of the Company carried out no transactions with the Company outside the ordinary course of business or on other than market conditions. Investments and positions held by directors The directors of the Company and their related parties have had no conflicts of interest requiring disclosure under article 229 of the recast text of the Spanish Companies Act.
142 EDPR Individual Annual Report 2024 Part II 21. Income and expense a) Revenues Details of revenues by category of activity and geographical market are as follows: DOMESTIC REST OF EU- ROPE NORTH AMERICA SOUTH AMERICA ASIA TOTAL THOU- SAND EUROS 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 Other services 61,949 62,232 - 163 15,356 13,273 5,366 5,495 4,891 6,859 87,562 88,022 Dividends 62,183 - - 6 - - - 72,272 - - 62,183 72,278 Finance income 44,442 60,745 17,509 11,085 - - - - - - 61,951 71,830 Total 168,574 122,977 17,509 11,254 15,356 13,273 5,366 77,767 4,891 6,859 211,696 232,130 b) Foreign currency transactions Details of income and expenses denominated in foreign currencies are as follows: THOUSAND EUROS 2024 2023 INCOME Revenues 23,206 72,581 EXPENSES External services -447 - Finance cost -175,990 -168,366 Total -153,231 -95,785 The Company's main foreign currency transactions are carried out in US Dollars. c) Employee benefits expense Details of the employee benefits expense are as follows: THOUSAND EUROS 2024 2023 EMPLOYEE BENEFITS EXPENSE Social Security payable by the company 7,740 7,238 Other employee benefits expense 1,934 1,726 Total 9,674 8,964 External services Details of external services are as follows: THOUSAND EUROS 2024 2023 Leases 5,514 3,968 Independent professional services 5,024 9,850 Advertising and publicity 554 2,919 Other services 43,255 40,358 Total 54,347 57,095 The leases are mainly for the Company's offices. There were no non-cancellable payments at 31 December 2024 and 2023. Other services primarily comprise management support, communications and maintenance expenses, as well as travel costs. At 31 December 2024, the Company's commitments to purchase external services within one year amounted to EUR 19,724 thousand (EUR 30,844 thousand in 2023). Furthermore, in 2024 the Company's commitments to purchase external services within from one to five years amounted to EUR 2,142 thousand in 2024 (EUR 6,850 thousand at 31 December 2023).
143 EDPR Individual Annual Report 2024 Part II 22. Employee information The average headcount of the Company in 2024 and 2023, distributed by category, was as follows: NUMBER 2024 2023 Senior managers 29 32 Managers 68 73 Specialists 351 339 Technicians 3 3 Total 451 447 Shown below is the gender distribution of permanent employees at 31 December 2024 and 2023 under the new system: 2024 2023 NUMBER MALE FEMALE MALE FEMALE Senior managers 17 10 22 10 Managers 35 31 34 30 Specialists 184 151 196 159 Technicians 1 2 1 2 Total 237 194 253 201 In addition, at 31 December 2024, the Board of Directors is composed of nine members, five of whom are men and four of whom are women (twelve members at 31 December 2023: eight men and four women). In 2024 and 2023, the Company had two employees with disabilities of 33% or more. Furthermore, the Company outsources certain services to companies that hold exemption certificates. 23. Audit fees Pursuant to the proposal of the Audit, Control and Related Party Transactions Committee presented to the Board of Directors (for submission to the general meeting of shareholders) at the Board meeting of 3 April 2018 it was resolved to appoint PricewaterhouseCoopers Auditores, S.L. as EDPR’s statutory auditor for the years 2018, 2019 and 2020. The firm's renewal as statutory auditor for EDPR SA for 2021, 2022 and 2023 was approved by the EDPR shareholders at their general meeting of 12 April 2021, and its second renewal as statutory auditor for EDPR SA for 2024, 2025 and 2026 was approved by the EDPR shareholders at their general meeting of 4 April 2024. Shown below is a breakdown of the fees for professional services provided by this company in the years ended 31 December 2024 and 2023: THOUSAND EUROS 2024 2023 Audit services, individual and consolidated annual accounts 453 335 Other services 1 284 264 Total services invoiced by PricewaterhouseCoopers Auditores, S.L. 737 599 Total 737 599 1 Other services include for 2024 and 2023 the quarterly limited review, the review of the internal control system on financial reporting, the non-financial reporting assurance report for the EDP Renováveis Group and the financial reporting quarterly review reports for the Company’s main shareholder. 24. Commitments At 31 December 2024, the Company had deposited guarantees on behalf of Group companies amounting to EUR 4,088 million (EUR 3,677 million in 2023), including guarantees of USD 2,325 million (USD 1,841 million in 2023) and GB pounds 51 million (GBP 74 million in 2023). The Company's directors do not expect any significant liabilities to arise from these guarantees. 25. Fair value of financial assets and liabilities Fair value of financial instruments is based, whenever available, on quoted market prices. Otherwise, fair value is determined through internal models, which are based on generally accepted cash flow discounting techniques and option valuation models or through quotations supplied by third parties. Non-standard instruments may require alternative techniques, which consider their characteristics and the generally accepted market practices applicable to such instruments. These models are developed
144 EDPR Individual Annual Report 2024 Part II considering the market variables that affect the underlying instrument, namely yield curves, exchange rates and volatility factors. Market data is obtained from generally accepted suppliers of financial data (Bloomberg and Reuters). Non-listed equity instruments, for which a reliable and consistent fair value estimate is not available either from internal models or external suppliers, are recognised at their historical cost. Cash and cash equivalents, trade receivables and suppliers These financial instruments include mainly current financial assets and liabilities. Given their short-term nature at the reporting date, their book values are not significantly different from their fair values. Financial debt The fair value of the financial debt is estimated through internal models, which are based on generally accepted cash flow discounting techniques. At the reporting date, the carrying amount of floating rate loans is approximately their fair value. In the case of fixed rate loans, mainly the intercompany loans granted by the EDP Group, their fair value is obtained through internal models based on generally accepted discounting techniques. Derivative financial instruments All derivatives are recorded at their fair value. For those which are quoted in organised markets, the respective market price is used. For over-the-counter derivatives, fair value is estimated through the use of internal models based on cash flow discounting techniques and option valuation models generally accepted by the market, or by price quotations from intermediaries. The fair values of assets and liabilities as at 31 December 2024 and 2023 are analysed as follows: 31 DECEMBER 2024 31 DECEMBER 2023 THOUSAND EUROS CARRYING AMOUNT FAIR VALUE DIFFERENCE CARRYING AMOUNT FAIR VALUE DIFFERENCE Financial Assets Trade and other receivables 129,246 129,246 - 186,363 186,363 - Other financial assets 70,659 70,659 - 4,436 4,436 - Derivative financial instru- ments 1,048 1,048 - 12,580 12,580 - Cash and cash equivalents 105,884 105,884 - 861,230 861,230 - Total 306,837 306,837 - 1,064,609 1,064,609 Financial Liabilities Financial debt 5,266,126 5,220,403 45,723 4,380,042 3,642,373 737,669 Trade and other payables 30,980 30,980 - 29,537 29,537 - Other financial liabilities 121,567 121,567 - 180,677 180,677 - Derivative financial instru- ments 83,681 83,681 - 56,033 56,033 - Total 5,502,354 5,456,631 45,723 4,646,289 4,646,289 737,669 The fair value levels used to valuate financial assets and liabilities are defined as follows: Level 1 – Quoted prices (unadjusted) in active market for identical assets and liabilities Level 2 – Inputs other than quoted prices included within Level 1 that are observable for assets or liabilities, either directly (i.e. as prices) or indirectly (i.e., derived from prices). Level 3 – Inputs for assets or liabilities that are not based on observable market data (unobservable inputs). 26. Events after the reporting period EDPR signs asset rotation deal for 300 MWac solar portfolio and 92 MW storage portfolio in the US. On 2 January 2025, EDPR signed a Sale and Purchase Agreement with a major energy global player to sell a 49% equity stake of class B shares in a portfolio of 300 MWac of 2 operating solar projects and 92 MW of an electricity storage facility, located in California, in US. Total Enterprise Value for 100% of the portfolio amounts to 600 million American Dollars.
145 EDPR Individual Annual Report 2024 Part II Annex I EDP Renováveis S.A. Details of investments in Group companies at 31 December 2024 *Companies included in the Company’s tax group (Note 18) THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL KSD 17 GmbH Germany - 100% N.A. Photovoltaic energy pro- duction 25 -73 22,129 -517 -517 21,564 EDPR Deutsch- land GmbH Germany - 100% N.A. Holding 25 -3,833 0 -6,496 -6,496 -10,304 EDPR Windpark Flemsdorf GmbH Germany - 100% N.A. Wind power production 1 0 0 -1 -1 - EDPR Windpark Küsten-Wadde- weitz GmbH Germany - 100% N.A. Wind power production 25 0 0 0 0 25 EDPR Windpark Reinstorf GmbH Germany - 100% N.A. Wind power production 25 0 0 0 0 25 EDPR Windpark Langenleuba- Oberhain GmbH Germany - 100% N.A. Wind power production 25 0 0 0 0 25 EDPR Windpark Lützen-Weißen- fels GmbH Germany - 100% N.A. Wind power production 25 0 0 0 0 25 Kronos Projektge- sellschaft mbH Germany - 70% N.A. Holding 25 -1,293 0 -1,414 -1,414 -2,682 Kronos Solar Pro- jects GmbH Germany - 70% PwC Holding 28 69,815 0 7,779 7,779 77,622 Kronos Solar Pro- jects France UG Germany - 85% N.A. Holding 1 2,000 0 480 480 2,481 KSD 11 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -51 0 -96 -96 -146 KSD 12 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -53 0 -111 -111 -163 KSD 13 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -42 0 -87 -87 -128 KSD 14 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -101 0 -158 -158 -258 KSD 15 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -98 0 -33 -33 -130 KSD 16 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -169 0 -86 -86 -254 KSD 18 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -30 0 -57 -57 -86 KSD 19 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -32 0 -72 -72 -103 KSD 21 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -132 0 -68 -68 -199 KSD 22 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -107 0 -55 -55 -161 KSD 23 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -34 0 -140 -140 -173 KSD 24 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -128 0 -45 -45 -172 KSD 25 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -32 0 -93 -93 -124 KSD 26 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -190 0 -101 -101 -290 KSD 27 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -260 0 -156 -156 -415 KSD 28 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -108 0 -81 -81 -188
146 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL KSD 29 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -113 0 -83 -83 -195 KSD 30 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -128 0 -53 -53 -180 KSD 31 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -169 0 -70 -70 -238 KSD 32 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -34 0 -57 -57 -90 KSD 33 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -66 0 -32 -32 -97 KSD 34 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -108 0 -34 -34 -141 KSD 35 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -92 0 -52 -52 -143 KSD 36 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -97 0 -65 -65 -161 KSD 37 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -149 0 -92 -92 -240 KSD 38 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -166 0 -47 -47 -212 KSD 39 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -98 0 -58 -58 -155 KSD 40 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -143 0 -77 -77 -219 KSD 41 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -30 -30 -34 KSD 42 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -62 -62 -66 KSD 43 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -47 -47 -51 KSD 44 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -7 0 -44 -44 -50 KSD 45 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -29 -29 -33 KSD 46 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -89 -89 -93 KSD 47 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -36 -36 -40 KSD 48 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -29 -29 -33 KSD 49 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -37 -37 -41 KSD 50 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -29 -29 -33 KSD 51 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -29 -29 -33 KSD 52 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -66 -66 -70 KSD 53 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -44 -44 -48 KSD 54 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -37 -37 -41 KSD 55 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -49 -49 -53 KSD 56 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -29 -29 -33
147 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL KSD 57 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -29 -29 -33 KSD 58 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -48 -48 -52 KSD 59 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -29 -29 -33 KSD 60 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 -5 0 -45 -45 -49 KSD 61 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 0 0 -1 -1 0 KSD 62 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 0 0 -1 -1 0 KSD 63 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 0 0 -1 -1 0 KSD 64 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 0 0 -2 -2 -1 KSD 65 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 0 0 -1 -1 0 KSD 66 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 0 0 -1 -1 0 KSD 67 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 0 0 -1 -1 0 KSD 68 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 0 0 -1 -1 0 KSD 69 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 0 0 -1 -1 0 KSD 70 UG Germany - 100% N.A. Photovoltaic energy pro- duction 1 0 0 -1 -1 0 Energy Democ- racy Management Pty. Ltd. Australia - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Yoogali Solar Farm Pty. Ltd. Ltd. Australia - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Merino Solar Farm Trust Australia - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Orange Commu- nity Renewable Energy Park Pty. Ltd. Ltd. Australia - 100% N.A. Photovoltaic energy pro- duction 0 13 0 -99 -99 -86 Orange Commu- nity Renewable Energy Park Trust Australia - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDPR Australia Pty. Ltd. Australia - 100% N.A. Photovoltaic energy pro- duction 1 -1,237 0 -3,820 -3,820 -5,056 EDPR DevCo Pty. Ltd. Australia - 100% N.A. Photovoltaic energy pro- duction 1 577 0 -21 -21 557 Merino Solar Farm Pty. Ltd. Australia - 100% N.A. Photovoltaic energy pro- duction 0 -8 0 -10 -10 -18 EDPR Australia Investments Pty. Ltd. Australia - 100% N.A. Photovoltaic energy pro- duction 1,789 -5,128 0 -665 -665 -4,004 Sunseap (Aus- tralia) Pty. Ltd. Australia - 100% N.A. Photovoltaic energy pro- duction 0 -685 0 -55 -55 -740 Sunseap Assets (Australia) Pty. Ltd. Australia - 100% N.A. Photovoltaic energy pro- duction 12 -12 0 -5 -5 -5 EDP Renewables Belgium, S.A. Belgium - 100% PwC Holding and Wind energy production 287 2,598 0 -153 -153 2,732 Central Eólica Monte Verde I, S.A. Brazil - 100% PwC Wind power production 12,475 2,373 0 42 42 14,890
148 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Central Eólica Monte Verde II, S.A. Brazil - 100% PwC Wind power production 14,864 -1,974 0 -3,437 -3,437 9,453 Central Eólica Monte Verde III, S.A. Brazil - 100% PwC Wind power production 12,042 -1,092 0 -3,120 -3,120 7,830 Central Eólica Monte Verde IV, S.A. Brazil - 100% PwC Wind power production 22,634 -104 0 -1,236 -1,236 21,294 Central Eólica Monte Verde V, S.A. Brazil - 100% PwC Wind power production 7,053 -599 0 -1,705 -1,705 4,749 Central Eólica Monte Verde VI, S.A. Brazil - 100% PwC Wind power production 14,355 -404 0 -377 -377 13,574 Central Solar Barra I, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 2 -1 0 0 0 1 Central Solar Barra II, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 2 -1 0 0 0 1 Central Solar Barra III, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 2 -1 0 0 0 1 Central Solar Barra IV, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 2 -1 0 0 0 1 Central Eólica Barra I, S.A. Brazil - 100% N.A. Wind power production 2 -1 0 0 0 1 Central Eólica Barra II, S.A. Brazil - 100% N.A. Wind power production 2 -1 0 0 0 1 Central Eólica Vento Bravo S.A. Brazil - 100% N.A. Wind power production 2 -1 0 0 0 1 Central Eólica Ventania Ceará S.A. Brazil - 100% N.A. Wind power production 2 -1 0 0 0 1 Central Eólica Barra V, S.A. Brazil - 100% N.A. Wind power production 2 -1 0 0 0 1 Central Eólica Barra VI, S.A. Brazil - 100% N.A. Wind power production 2 -1 0 0 0 1 Central Eólica Barra VII, S.A. Brazil - 100% N.A. Wind power production 2 -1 0 0 0 1 Central Eólica Barra VIII, S.A. Brazil - 100% N.A. Wind power production 2 -1 0 0 0 1 Central Eólica Barra IX, S.A. Brazil - 100% N.A. Wind power production 2 -1 0 0 0 1 Central Eólica Barra X, S.A. Brazil - 100% N.A. Wind power production 2 -1 0 0 0 1 Central Eólica Barra XI, S.A. Brazil - 100% N.A. Wind power production 2 -1 0 0 0 1 Central Solar Pe- reira Barreto I, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 18,182 1,966 0 894 894 21,042 Central Solar Pe- reira Barreto II, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 17,055 2,044 0 986 986 20,085 Central Solar Pe- reira Barreto III, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 26,779 1,589 0 -33 -33 28,335 Central Solar Pe- reira Barreto IV, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 18,422 1,350 0 669 669 20,441 Central Solar Pe- reira Barreto V, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 18,680 341 0 620 620 19,641 EDP Renováveis Brasil, S.A. Brazil 100% - PwC Holding 603,281 87,919 -1,458 -22,014 -22,014 667,728 Central Nacional de Energia Eólica, S.A. Brazil - 51% PwC Wind power production 1,929 -846 0 1,257 1,257 2,340 Elebrás Projetos, S.A. Brazil - 51% PwC Wind power production 16,152 -1,232 0 11,109 11,109 26,029 Central Eólica Baixa do Feijão I, S.A. Brazil - 51% PwC Wind power production 6,103 2,042 0 -70 -70 8,075 Central Eólica Baixa do Feijão II, S.A. Brazil - 51% PwC Wind power production 6,311 2,143 0 93 93 8,547 Central Eólica Baixa do Feijão III, S.A. Brazil - 51% PwC Wind power production 10,492 -800 0 -311 -311 9,381
149 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Central Eólica Baixa do Feijão IV, S.A. Brazil - 51% PwC Wind power production 6,915 685 0 -149 -149 7,451 Central Eólica JAU, S.A. Brazil - 51% PwC Wind power production 27,089 9,031 0 -268 -268 35,852 Central Eólica Aventura I, S.A. Brazil - 51% PwC Wind power production 12,712 392 0 -397 -397 12,707 Central Eólica Asas de Zabelê I, S.A. Brazil - 100% N.A. Wind power production 0 0 0 0 0 0 Central Eólica Asas de Zabelê II, S.A. Brazil - 100% N.A. Wind power production 0 0 0 0 0 0 Monte Verde Holding, S.A. Brazil - 100% PwC Holding 83,855 -1,099 0 -9,847 -9,847 72,909 Central Geradora Fotovoltaica Monte Verde So- lar II, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 12,321 -62 0 -216 -216 12,043 Central Geradora Fotovoltaica Monte Verde So- lar III, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 21,178 -90 0 -347 -347 20,741 Central Geradora Fotovoltaica Monte Verde So- lar IV, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 10,861 -21 0 -122 -122 10,718 Central Eólica Asas de Zabelê III, S.A. Brazil - 100% N.A. Wind power production 0 -1 0 0 0 -1 Central Solar La- goa I, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 380 -48 0 -8 -8 324 Central Solar La- goa II, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 344 -48 0 -7 -7 289 Central Geradora Fotovoltaica Monte Verde So- lar V, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 10,659 -99 0 41 41 10,601 Central Geradora Fotovoltaica Monte Verde So- lar VII, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 28,147 -273 0 168 168 28,042 Central Eólica Amanhecer I, S.A. Brazil - 100% N.A. Wind power production 0 -1 0 0 0 -1 Central Eólica Farroupilha S.A. Brazil - 100% N.A. Wind power production 0 -1 0 0 0 -1 Central Eólica Amanhecer III, S.A. Brazil - 100% N.A. Wind power production 0 -1 0 0 0 -1 Central Eólica Asas de Zabelê IV, S.A. Brazil - 100% N.A. Wind power production 0 -1 0 0 0 -1 Central Solar Zebu I, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 560 -76 0 0 0 484 Central Solar Zebu II, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Central Solar Zebu III, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Central Solar Zebu IV, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Central Solar Zebu V, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Central Solar Zebu VI, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Central Eólica Amanhecer IV, S.A. Brazil - 100% N.A. Wind power production 0 -1 0 0 0 -1 Central Eólica Amanhecer V, S.A. Brazil - 100% N.A. Wind power production 0 -1 0 0 0 -1 Central Eólica Boqueirão II, S.A. Brazil - 100% N.A. Wind power production 0 -1 0 0 0 -1 Central Eólica Amanhecer VII, S.A. Brazil - 100% N.A. Wind power production 0 -1 0 0 0 -1
150 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Central Eólica Catanduba I, S.A. Brazil - 100% PwC Wind power production 30,895 -250 0 -174 -174 30,471 Central Eólica Catanduba II, S.A. Brazil - 100% PwC Wind power production 25,262 -205 0 521 521 25,578 Central Solar Novo Oriente I, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 27,278 -24 0 -54 -54 27,200 Central Solar Novo Oriente II, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 27,092 -53 0 151 151 27,190 Central Solar Novo Oriente III, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 27,150 -69 0 165 165 27,246 Central Solar Novo Oriente IV, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 27,152 -65 0 -377 -377 26,710 Central Solar Novo Oriente V, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 45,315 -113 0 -238 -238 44,964 Central Solar Novo Oriente VI, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 29,204 -84 0 -427 -427 28,693 Central Eólica Asas de Zabelê V, S.A. Brazil - 100% N.A. Wind power production 0 -1 0 0 0 -1 Central Eólica Asas de Zabelê VI, S.A. Brazil - 100% N.A. Wind power production 0 -1 0 0 0 -1 Central Eólica Asas de Zabelê VII, S.A. Brazil - 100% N.A. Wind power production 0 -1 0 0 0 -1 Central Solar Zebu VII, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 0 -1 0 0 0 -1 Central Eólica Cerro Alegre S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 0 -1 0 0 0 -1 Central Eólica Dos Anjos S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 0 -1 0 0 0 -1 Central Solar Pre- sidente JK I, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 496 -496 0 0 0 0 Central Solar Mi- nas do Sol II, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 10 -1 0 0 0 9 Central Solar Mi- nas do Sol III, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 10 -1 0 0 0 9 Central Solar Mi- nas do Sol IV, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 10 -1 0 0 0 9 Central Solar Mi- nas do Sol V, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 10 -1 0 0 0 9 Central Solar Mi- nas do Sol VI, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 10 -1 0 0 0 9 Central Solar Mi- nas do Sol VII, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 10 -1 0 0 0 9 Central Solar Mi- nas do Sol VIII, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 10 -1 0 0 0 9 Central Solar Fê- nix I, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 0 -1 0 0 0 -1 Central Solar Fênix II, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 0 -1 0 0 0 -1 Central Solar Fênix III, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 2 -1 0 0 0 1 Central Solar Fênix IV, S.A. Brazil - 100% N.A. Photovoltaic energy pro- duction 2 -1 0 0 0 1 Central Geradora Fotovoltaica Monte Verde So- lar I, S.A. Brazil - 100% PwC Photovoltaic energy pro- duction 187 -3 0 3 3 187 Central Geradora Fotovoltaica Brazil - 100% PwC Photovoltaic energy pro- duction 187 -3 0 3 3 187
151 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Monte Verde So- lar VI, S.A. Central Geradora Fotovoltáica Mi- nas do Sol, Ltda. Brazil - 100% N.A. Photovoltaic energy pro- duction 892 -889 0 -2 -2 1 Central Eólica Uruguaiana I, S.A. Brazil - 100% N.A. Wind power production 0 0 0 0 0 0 Central Eólica Uruguaiana II, S.A. Brazil - 100% N.A. Wind power production 0 0 0 0 0 0 Central Eólica Uruguaiana III, S.A. Brazil - 100% N.A. Wind power production 0 0 0 0 0 0 Central Eólica Uruguaiana IV, S.A. Brazil - 100% N.A. Wind power production 0 0 0 0 0 0 Central Eólica Uruguaiana V, S.A. Brazil - 100% N.A. Wind power production 0 0 0 0 0 0 Central Eólica Uruguaiana VI, S.A. Brazil - 100% N.A. Wind power production 0 0 0 0 0 0 Novo Oriente So- lar Holding, S.A. Brazil - 100% PwC Holding 182,066 0 0 -3 -3 182,063 Central Eólica Itaúna III, S.A. Brazil - 100% N.A. Wind power production 6,155 -23 0 -49 -49 6,083 Central Eólica São Domingos IV, S.A. Brazil - 100% N.A. Wind power production 3,426 -13 0 -18 -18 3,395 Central Eólica São Domingos V, S.A. Brazil - 100% N.A. Wind power production 1,887 -7 0 -15 -15 1,865 Central Eólica Borborema I, S.A. Brazil - 100% PwC Wind power production 5,778 -21 184 -120 -120 5,821 Central Eólica Borborema II, S.A. Brazil - 100% PwC Wind power production 14,530 -12 244 -157 -157 14,605 Central Eólica Borborema III, S.A. Brazil - 100% PwC Wind power production 2,573 -22 91 -68 -68 2,574 Central Eólica Borborema IV, S.A. Brazil - 100% PwC Wind power production 3,157 -15 122 -75 -75 3,189 Central Eólica Itaúna I, S.A. Brazil - 100% PwC Wind power production 7,979 -17 0 -31 -31 7,931 Central Eólica Itaúna II, S.A. Brazil - 100% PwC Wind power production 3,594 -17 0 -51 -51 3,526 Central Eólica São Domingos I, S.A. Brazil - 100% PwC Wind power production 4,451 -20 0 -41 -41 4,390 Central Eólica São Domingos II, S.A. Brazil - 100% PwC Wind power production 4,869 -24 0 -46 -46 4,799 Central Eólica São Domingos III, S.A. Brazil - 100% PwC Wind power production 2,630 -14 0 -26 -26 2,590 Sunseap Solar Cambodia Co., Ltd. Cambodia - 100% N.A. Photovoltaic energy pro- duction 1 0 0 0 0 1 Blue Bridge Solar Park LP Canada - 100% N.A. Photovoltaic energy pro- duction 0 -269 0 -100 -100 -369 EDP Renewables SH II Project LP Canada - 100% N.A. Wind power production 0 0 0 0 0 0 Sounding Creek Solar Park LP Canada - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDP Renewables Canada Ltd. Canada 100% - N.A. Holding 194,241 -8,911 -69 27,252 27,252 212,513 SBWF GP Inc. Canada - 51% N.A. Wind power production -1 1 0 0 0 0 Nation Rise Wind Farm GP Inc. Canada - 100% PwC Wind power production 1 -29 0 -38 -38 -66 South Branch Wind Farm II GP Inc. Canada - 100% N.A. Wind power production 0 0 0 0 0 0 EDP Renewables Canada Manage- ment Services Ltd Canada - 100% N.A. Holding -4,503 0 0 0 0 -4,503
152 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Bromhead Solar Park GP Ltd Canada - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Halbrite Solar Park GP Ltd Canada - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Blue Bridge Solar Park GP Ltd Canada - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDP Renewables SH II Project GP Ltd Canada - 100% N.A. Wind power production 0 0 0 0 0 0 Sounding Creek Solar Park GP Ltd. Canada - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Edgeware BESS Project GP Ltd. Canada - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 South Dundas Wind Farm LP Canada - 51% PwC Wind power production -10,269 29,935 508 3,270 3,270 23,444 Nation Rise Wind Farm LP Canada - 50% PwC Wind power production 45,882 3,620 2,912 193 193 52,607 South Branch Wind Farm II LP Canada - 100% N.A. Wind power production 1,305 -496 0 -146 -146 663 Edgeware BESS Project LP Canada - 50% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 South Branch BESS Project GP Ltd. Canada - 100% N.A. Wind power production 0 0 0 0 0 0 South Branch BESS Project Limited Partner- ship Canada - 100% N.A. Wind power production 0 0 0 0 0 0 Bromhead Solar Park LP Canada - 100% N.A. Photovoltaic energy pro- duction 0 -249 0 -67 -67 -316 Halbrite Solar Park LP Canada - 100% N.A. Photovoltaic energy pro- duction 0 -249 0 -67 -67 -316 EDP Renewables Chile, SpA Chile 100% - PwC Holding 11,513 -4,515 0 -3,246 -3,246 3,752 Los Llanos Solar, SpA Chile - 100% N.A. Photovoltaic energy pro- duction 1 -1,687 0 -566 -566 -2,252 Parque Eólico Punta de Talca, SpA Chile - 100% PwC Wind power production 345 -4,923 0 -1,492 -1,492 -6,070 Parque Eólico San Andrés, SpA Chile - 100% N.A. Wind power production 422 -6,027 0 -2,395 -2,395 -8,000 Parque Eólico Victoria, SpA Chile - 100% N.A. Wind power production 1,262 -2,434 0 -1,175 -1,175 -2,347 Vientos de Taltal, SpA Chile - 100% N.A. Wind power production 1 0 0 318 318 319 PV Ballico, SpA Chile - 100% N.A. Photovoltaic energy pro- duction 0 0 0 -4 -4 -4 Anhui Jinyang New Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 614 -6 0 62 62 670 Changchun Xingsheng Jinhu Photovoltaic New Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 831 0 0 -7 -7 824 Chongqing Xingsheng New Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 493 0 0 43 43 536 Xingcheng (Chongqing) Comprehensive Energy Service Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 754 0 0 43 43 797 Chongqing Xingzhi New En- ergy Technology Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 1,921 37 0 266 266 2,224 Chuzhou Huitai Photovoltaic Power Genera- tion Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 2,577 291 0 168 168 3,036 Dongguan Jiehuang New En- ergy Technology Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 1,974 113 0 255 255 2,342
153 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Dongying Daoli New Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 500 10 0 -2 -2 508 Fangxian Tian- hang New Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 1,966 -839 0 -430 -430 697 Feicheng Xingqi Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 529 0 0 -5 -5 5242 Fengcheng Xing- tai New Energy Technology Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 484 -5 0 34 34 513 Wusheng Xinhui Maocheng New Energy Technol- ogy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 343 0 0 -1 -1 342 Diantou Univer- sal (Wuchang City) New Energy Co., Ltd China - 100% N.A. Photovoltaic energy pro- duction 593 0 0 0 0 593 Harbin Panshuo Energy Technol- ogy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 1,130 -4 0 -1 -1 1,125 Guangdong Runxi Electric Power Technology Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 1,319 0 0 -2 -2 1,317 Heze Dechen New Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 406 -4 0 35 35 437 Jiangsu Xingsheng New Energy Technol- ogy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 334 -4 0 68 68 398 Lianyungang Yu- rong New Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 224 0 0 1 1 225 Zhongchuang Rongke (Haining) New Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 570 0 0 -3 -3 567 Jiaxing Luken En- ergy Technology Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 460 -3 0 27 27 484 State Cloud Sun- seap Equity Investment Part- nership LP China - 80% PwC Photovoltaic energy pro- duction 531 -7 0 -2 -2 522 Jingmen Xingsheng New Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 40 -3 0 -1 -1 36 Jingmen Zhong- bei New Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 2,604 50 0 22 22 2,676 Hubei Jianghui New Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 1,793 -109 0 -98 -98 1,586 Jining Hengliang New Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 659 0 0 -3 -3 656 Jining Junjing New Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 791 0 0 -2 -2 789 Langfang Hong'er New Energy Co., Ltd China - 100% N.A. Photovoltaic energy pro- duction 541 0 0 -1 -1 540 Xunmai (Dalian) New Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 369 0 0 0 0 369 Ningbo Xingyi En- terprise Management Consulting Part- nership LP China - 90% N.A. Photovoltaic energy pro- duction 831 -119 0 0 0 712 Ningbo Jiangbei Baoyi Enterprise Management Consulting Part- nership LP China - 100% PwC Photovoltaic energy pro- duction 180 32 0 -8 -8 204 Putian Xingsheng New Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 534 -1 0 -3 -3 530 Sunseap China Energy (Qingdao) Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 5 -4 0 -1 -1 0
154 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Qingdao Chifu New Energy Tech- nology Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 678 0 0 -3 -3 675 Qingdao Xingqi Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 157 18 0 8 8 183 Sunseap China Energy (Shang- hai) Ltd. China - 100% PwC Photovoltaic energy pro- duction 40,019 -3,068 0 -4,471 -4,471 32,480 Shanghai Jingwen Fund (LP) China - 99% N.A. Photovoltaic energy pro- duction 9,626 -583 0 103 103 9,146 Xingqi New En- ergy (Shaoxing) Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 119 0 0 3 3 122 Siping Lvsheng Energy Technol- ogy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 475 -6 0 -5 -5 464 Xingbei New En- ergy (Sihong) Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Suzhou Xingdao New Energy Tech- nology Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 286 7 0 -26 -26 267 Suzhou Xingyi En- ergy Engineering Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 306 13 0 20 20 339 Suzhou Liansong New Energy Tech- nology Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 774 2 0 -24 -24 752 Tianjin Pengling Funeng New En- ergy Technology Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 915 -2 0 62 62 975 Tianjin Xingsheng Energy Develop- ment Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 1,117 -14 0 90 90 1,193 Rongcheng Xingyi New Energy Tech- nology Co., Ltd. China - 100% PwC Photovoltaic energy pro- duction 3,440 -59 0 -32 -32 3,349 Weihai Deao New Energy Technol- ogy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 486 33 0 41 41 560 Wuhan Panshuo Energy Technol- ogy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 1,160 42 0 -7 -7 1,195 Wuhu Wanfuxin Energy Technol- ogy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 349 9 0 54 54 412 Wuhu Xingsheng New Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 309 -4 0 50 50 355 Wuxi Lingzhong New Energy Tech- nology Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 1,319 89 0 117 117 1,525 Qinghe County Xinou Funeng New Energy Tech- nology Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 441 56 0 -27 -27 470 Yancheng Qingneng Power Technology Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 921 -415 0 509 509 1,015 Zhenjiang Ruichengda New Energy Co., Ltd. China - 100% N.A. Photovoltaic energy pro- duction 103 2 0 4 4 109 Eolos Energía, S.A.S. E.S.P. Colombia 100% - PwC Wind power production 13,807 -1,755 0 -28,142 -28,142 -16,090 Vientos del Norte, S.A.S. E.S.P. Colombia 100% - PwC Wind power production 10,120 -63,485 10 -47,619 -47,619 -100,974 Solar Power Solu- tions, S.A.S. E.S.P. Colombia 100% - PwC Photovoltaic energy pro- duction 591 3,513 0 -489 -489 3,615 Elipse Energía, S.A.S. E.S.P. Colombia - 100% N.A. Photovoltaic energy pro- duction 155 -595 0 -677 -677 -1,117 Omega Energía, S.A.S. E.S.P. Colombia - 100% N.A. Photovoltaic energy pro- duction 155 -360 0 -444 -444 -649 Kappa Energía, S.A.S. E.S.P. Colombia - 100% N.A. Photovoltaic energy pro- duction 155 -401 0 -480 -480 -726
155 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Parque Solar Fotovoltaico El Copey, S.A.S. E.S.P. Colombia 100% - PwC Photovoltaic energy pro- duction 278 -1,334 0 -866 -866 -1,922 Renewables Energy Colom- bia, S.A.S. Colombia - 100% N.A. Holding 0 -764 0 -472 -472 -1,236 Gumisan Wind Power Co., Ltd. South Korea - 100% N.A. Wind power production 931 -37 0 -81 -81 813 Angang Wind Power Corpora- tion South Korea - 100% N.A. Wind power production 745 -596 0 -51 -51 98 OMA Haedori Co., Ltd. South Korea 75% - N.A. Wind power production 625 -1,122 0 -187 -187 -684 EDPR Korea, Ltd. South Korea - 100% N.A. Holding 4,438 -3,142 0 -862 -862 434 EDP Renewables Europe, S.L.U.* Spain 100% - PwC Holding 249,499 2,136,229 -12,492 -76,340 -76,340 2,296,896 EDP Renovables España, S.L.U.* Spain 100% - PwC Holding, con- struction and Wind power production 46,128 1,224,198 6,961 54,442 54,442 1,331,729 EDP Renováveis Servicios Finan- cieros, S.A.* Spain 70% 30% PwC Other eco- nomic activities 84,691 563,177 6,128 -444,552 -444,552 209,444 EDPR Terral S.L.U.* Spain - 100% N.A. Wind power production 3 2 0 -754 -754 -749 Parque Eólico de Abrazadilla, S.L.U.* Spain - 100% N.A. Wind power production 7 -2 0 0 0 6 Canerde, S.L. Spain - 80% PwC Wind power production 19 -4 0 -5 -5 10 Desarrollos Re- novables de la Frontera, S.L.U.* Spain - 100% N.A. Power produc- tion 6 1 0 -1 -1 7 EDPR Yield, S.A.U.* Spain - 100% PwC Wind power production 99,405 169,517 0 29,445 29,445 298,367 Parque Eólico Santa Quiteria, S.L. Spain - 84% PwC Wind power production 63 11,883 0 -978 -978 10,968 Eólica Fontesilva, S.L.U.* Spain - 100% PwC Wind power production 6,860 23,677 0 2,772 2,772 33,309 Desarrollos Eóli- cos de Teruel, S.L. Spain - 51% PwC Wind power production 18,890 5,508 0 4,527 4,527 28,925 Parque Eólico Al- tos del Voltoya, S.A. Spain - 93% PwC Wind power production 6,434 27,055 -3,447 2,181 2,181 32,223 Eólica La Brújula, S.A.U.* Spain - 100% PwC Wind power production 3,294 38,151 0 -43 -43 41,402 Eólica Arlanzón, S.A. Spain - 85% PwC Wind power production 4,509 5,905 0 216 216 10,630 Eólica Campol- lano, S.A. Spain - 75% PwC Wind power production 6,560 31,030 0 1,597 1,597 39,187 Tébar Eólica, S.A.U.* Spain - 100% PwC Wind power production 4,720 23,027 0 1,508 1,508 29,255 Renovables Cas- tilla La Mancha, S.A. Spain - 90% N.A. Wind power production 60 10,235 0 706 706 11,001 Parque Eólico La Sotonera, S.L. Spain - 70% PwC Wind power production 2,000 8,233 0 -635 -635 9,598 Compañía Eólica Aragonesa, S.A.U.* Spain - 100% PwC Wind power production 6,701 80,466 0 -194 -194 86,973 Parque Eólico Los Cantales, S.L.U.* Spain - 100% PwC Wind power production 1,963 11,519 0 -60 -60 13,422 Iberia Aprovecha- mientos Eólicos, S.A. Spain - 94% PwC Wind power production 1,919 11,919 0 -374 -374 13,464 Acampo Arias, S.L. Spain - 95% PwC Wind power production 3,314 11,622 0 3,042 3,042 17,978 Aplicaciones In- dustriales de Energías Limpias, S.L. Spain - 61% N.A. Wind power production 131 1,235 0 0 0 1,366 San Juan de Bar- gas Eólica, S.L.U.* Spain - 100% N.A. Wind power production 2,000 4,360 0 -290 -290 6,070 Global Pracima, S.L.U. Spain - 100% N.A. Power produc- tion 4 5,258 0 -4 -4 5,258 EDPR México, S.L.U.* Spain - 100% N.A. Holding 219,088 -32,026 0 -32 -32 187,030
156 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Desarrollos Re- novables de Allande, S.L.U.* Spain - 100% N.A. Power produc- tion 6 247 0 -214 -214 39 IAM Caecius, S.L.U. Spain - 50% N.A. Wind power production 6 18 0 -12 -12 12 Site Sunwind En- ergy, S.L.U. Spain - 100% N.A. Power produc- tion 6 -1 0 -1 -1 4 Desarrollos Re- novables de Teruel, S.L. Spain - 51% N.A. Wind power production 3 281 0 -4 -4 280 Rocio Hive, S.L.* Spain - 100% PwC Power produc- tion 3 310 0 -4 -4 309 Palma Hive, S.L.U.* Spain - 100% PwC Power produc- tion 3 384 0 0 0 387 Pedregal Hive, S.L.U.* Spain - 100% PwC Power produc- tion 3 415 0 0 0 418 Desarrollos Re- novables de Alfajarin, S.L.U. Spain - 100% N.A. Power produc- tion 6 1 0 -1 -1 6 Promotores Villa- rrubia Elevación, S.L. Spain - 67% N.A. Power produc- tion 3 612 0 -121 -121 494 Jul Solar, S.L.U.* Spain - 100% N.A. Photovoltaic energy pro- duction 3 576 0 0 0 579 Agos Fotovoltai- cas, S.L.U.* Spain - 100% N.A. Photovoltaic energy pro- duction 3 559 0 0 0 562 Corona Fotovol- taicas, S.L.U.* Spain - 100% N.A. Photovoltaic energy pro- duction 3 981 1,160 0 0 2,144 Promotores Vil- larrubia Morata 200KV, S.L. Spain - 73% N.A. Power produc- tion 3 224 0 -156 -156 71 Energia Geoide VIII, S.L.* Spain - 100% N.A. Power produc- tion 3 3 0 -3 -3 3 ICE Tudela, S.L.U.* Spain - 100% N.A. Power produc- tion 3 4 0 -2 -2 5 Soner Goya, S.L.U.* Spain - 100% N.A. Photovoltaic power produc- tion + Storage 353 1,592 0 -2 -2 1,943 Libienergy Green, S.L.* Spain - 100% N.A. Photovoltaic energy pro- duction 3 1,331 0 0 0 1,334 Cañonera Solar, S.L.* Spain - 100% N.A. Photovoltaic energy pro- duction 3 742 0 -13 -13 732 Montealegre So- lar, S.L.* Spain - 100% N.A. Photovoltaic energy pro- duction 3 746 0 -13 -13 736 Yugo Solar, S.L.* Spain - 100% N.A. Photovoltaic energy pro- duction 3 733 0 -13 -13 723 Energía Amane- cer, S.L.U.* Spain - 100% N.A. Photovoltaic energy pro- duction 3 714 0 -4 -4 713 Renovables Alasia, S.L.* Spain - 100% N.A. Other eco- nomic activities 3 -1 0 -1 -1 1 Renovables Ca- nopus, S.L.* Spain - 100% N.A. Other eco- nomic activities 3 -1 0 -1 -1 1 Renovables Lerna, S.L.* Spain - 100% N.A. Other eco- nomic activities 3 -1 0 -1 -1 1 Energia Polimero S.L.* Spain - 100% N.A. Photovoltaic energy pro- duction 3 3,383 0 0 0 3,386 IGNIS DATA TAU, SL Spain - 90% N.A. Photovoltaic energy pro- duction 3 1 0 0 0 4 Saussignac So- laire, S.A.S. France - 100% N.A. Power produc- tion 5 -8 0 -360 -360 -363 Vanosc Energie, S.A.S. France - 100% N.A. Wind power production 1 -19 0 -313 -313 -331 Transition Eu- roise Roman II, S.A.S. France - 85% N.A. Wind power production 603 502 0 21 21 1,126 EDPR Energies France, S.A.S. France - 100% PwC Wind power production 215 -334 0 -729 -729 -848 EDPR France Holding, S.A.S. France - 100% PwC Holding 79,900 25,338 15,180 -1,269 -1,269 119,149
157 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Parc Eolien de Dionay, S.A.S. France - 100% N.A. Wind power production 215 -141 0 -402 -402 -328 Monts de la Ma- deleine Energie, S.A.S. France - 100% N.A. Wind power production 88 -67 0 -345 -345 -324 Monts du Forez Energie, S.A.S. France - 100% N.A. Wind power production 200 -111 0 -305 -305 -216 Oxavi 1, S.A.S. France - 100% N.A. Power produc- tion 3 -2 0 -328 -328 -327 Oxavi 2, S.A.S. France - 100% N.A. Power produc- tion 3 -2 0 -352 -352 -351 Kronos Solar France, S.A.S. France - 100% N.A. Photovoltaic energy pro- duction 20 973 0 -1,157 -1,157 -164 Fransol 11, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -30 0 -86 -86 -116 Fransol 12, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -116 0 -1 -1 -117 Fransol 13, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -39 0 -3 -3 -42 Fransol 14, S.A.S. France - 100% N.A. Photovoltaic energy pro- duction 1,014 -11 0 -94 -94 909 Fransol 15, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -112 0 -2 -2 -114 Fransol 16, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -72 0 -3 -3 -75 Fransol 17, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -89 0 86 86 -3 Fransol 18, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 88 -47 0 -1 -1 40 Fransol 19, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -87 0 3 3 -84 Fransol 20, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -165 0 -7 -7 -172 Fransol 21, S.A.S. France - 100% N.A. Photovoltaic energy pro- duction 12 44 0 -39 -39 17 Fransol 22, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -76 0 70 70 -6 Fransol 23, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -80 0 77 77 -3 Fransol 24, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 92 -57 0 1 1 36 Fransol 25, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -128 0 118 118 -10 Fransol 26, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -87 0 -8 -8 -95 Fransol 27, S.A.S. France - 100% N.A. Photovoltaic energy pro- duction 14 30 0 -22 -22 22 Fransol 28, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 104 -78 0 4 4 30 Fransol 29, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -85 0 -8 -8 -93 Fransol 30, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -43 0 -95 -95 -138 Fransol 31, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -105 0 91 91 -14 Fransol 32, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -39 0 -3 -3 -42 Fransol 33, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -50 0 44 44 -6
158 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Fransol 34, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -76 0 4 4 -72 Fransol 35, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -29 0 -2 -2 -32 Fransol 36, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -37 0 5 5 -33 Fransol 37, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -52 0 0 0 -52 Fransol 38, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -57 0 51 51 -6 Fransol 39, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -62 0 5 5 -57 Fransol 40, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -56 0 -30 -30 -86 Fransol 41, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -73 0 64 64 -9 Fransol 42, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -47 0 44 44 -3 Fransol 43, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -49 0 46 46 -3 Fransol 44, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -91 0 13 13 -78 Fransol 45, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -56 0 -26 -26 -82 Fransol 46, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -436 0 158 158 -278 Fransol 47, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -144 0 16 16 -128 Fransol 48, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -48 0 -23 -23 -71 Fransol 49, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -49 0 -1 -1 -50 Fransol 50, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -43 0 40 40 -3 Fransol 05, S.A.S. France - 100% N.A. Photovoltaic energy pro- duction 1 180 0 -298 -298 -117 Fransol 06, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -28 0 -21 -21 -49 Kronos 18 Fain, S.A.S. France - 100% N.A. Photovoltaic energy pro- duction 160 -19 -957 -69 -69 -885 Fransol 07, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -65 0 38 38 -27 Fransol 08, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -87 0 -30 -30 -117 Fransol 09, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -33 0 -14 -14 -47 Fransol 10, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -31 0 -25 -25 -56 Kronosol 11, S.A.R.L. France - 85% N.A. Photovoltaic energy pro- duction 50 -60 0 5 5 -5 Kronosol 12, S.A.R.L. France - 100% N.A. Photovoltaic energy pro- duction 60 -15 0 -34 -34 11 Kronosol 13, S.A.R.L. France - 60% N.A. Photovoltaic energy pro- duction 200 32 0 -276 -276 -44 Kronosol 14, S.A.R.L. France - 100% N.A. Photovoltaic energy pro- duction 898 -36 5,685 -234 -234 6,313
159 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Kronosol 15, S.A.R.L. France - 100% N.A. Photovoltaic energy pro- duction 237 -33 0 -28 -28 176 Fransol 51, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -51 0 46 46 -5 Fransol 52, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -30 0 -49 -49 -79 Fransol 53, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -52 0 -21 -21 -73 Fransol 54, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -65 0 -18 -18 -83 Fransol 55, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -34 0 -1 -1 -35 Fransol 56, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -26 0 -31 -31 -57 Fransol 57, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -52 0 47 47 -5 Fransol 58, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -34 0 31 31 -3 Fransol 59, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -34 0 -26 -26 -60 Fransol 60, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -47 0 42 42 -5 Fransol 61, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -28 0 -34 -34 -62 Fransol 62, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -32 0 29 29 -3 Fransol 63, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -52 0 -54 -54 -106 Fransol 64, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -58 0 53 53 -5 Fransol 65, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -45 0 -1 -1 -46 Fransol 66, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -58 0 -13 -13 -71 Fransol 67, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -62 0 -28 -28 -90 Fransol 68, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -53 0 48 48 -5 Fransol 69, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -58 0 -10 -10 -68 Fransol 70, S.A.S. France - 85% N.A. Photovoltaic energy pro- duction 0 -25 0 -1,749 -1,749 -1,774 Energiaki Arvani- kou E.P.E. Greece - 100% PwC Wind power production 1,312 13,930 -396 2,633 2,633 17,479 Wind Park Aerorrachi M.A.E. Greece - 100% PwC Wind power production 496 -3,284 0 -722 -722 -3,510 EDPR Hellas 1 M.A.E. Greece - 100% PwC Wind power production 2,855 -1,781 0 -807 -807 267 EDPR Hellas 2 M.A.E. Greece - 100% PwC Wind power production 670 -111 0 -628 -628 -69 Aioliko Parko Fthiotidas Erimia A.E. Greece - 100% PwC Wind power production 880 -1,073 0 -637 -637 -830 Wind Shape E.P.E. Greece - 100% N.A. Wind power production 550 -129 0 -1,610 -1,610 -1,189 Aioliki Oitis Ener- giaki A.E. Greece - 100% N.A. Wind power production 1,993 -16 0 -124 -124 1,853 Kadmeios Ane- mos Energiaki A.E. Greece - 100% N.A. Wind power production 2,825 -1,791 0 -744 -744 290
160 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Voiotikos Ane- mos Energiaki A.E. Greece - 100% N.A. Wind power production 1,225 -1,051 0 -1,008 -1,008 -834 EDPR Vounichora M.E.P.E. Greece - 100% N.A. Photovoltaic energy pro- duction 1 0 0 -76 -76 -75 EDPR Anaskelo M.E.P.E. Greece - 100% N.A. Photovoltaic energy pro- duction 1 0 0 -43 -43 -42 EDPR Desfina M.E.P.E. Greece - 100% N.A. Photovoltaic energy pro- duction 1 0 0 -47 -47 -46 EDPR Louzes M.E.P.E. Greece - 100% N.A. Photovoltaic energy pro- duction 1 0 0 -46 -46 -45 EDPR Gkekas M.E.P.E. Greece - 100% N.A. Photovoltaic energy pro- duction 1 0 0 -46 -46 -45 Aeolos Evias En- ergiaki, M.A.E. Greece - 100% N.A. Wind power production 4,125 -1,071 0 -246 -246 2,808 Szabadsolar, Kft. Hungary - 100% PwC Photovoltaic energy pro- duction 8 532 0 -430 -430 110 EDP Renewables Hungary Hungary - 100% PwC Holding 74 829 0 -801 -801 102 Sunlight Solar, Kft. Hungary - 85% PwC Photovoltaic energy pro- duction 13 559 0 -847 -847 -275 Napenergia, Kft. Hungary - 100% PwC Power produc- tion 8 1,618 0 -2,607 -2,607 -981 Nyírség Watt, Kft. Hungary - 100% PwC Wind power production 761 1,871 0 -1,587 -1,587 1,045 PT Sunseap Commercial In- dustrial Indonesia Asset Indonesia - 100% BDO Photovoltaic energy pro- duction 594 -176 0 -87 -87 331 PT Green Corri- dor Indonesia Indonesia - 100% BDO Photovoltaic energy pro- duction 4,667 -1,110 0 -1,708 -1,708 1,849 PT Right People Renewable En- ergy Indonesia - 100% BDO Photovoltaic energy pro- duction 720 -633 0 -33 -33 54 PT EDPR Indone- sia Genco Indonesia - 100% N.A. Other eco- nomic activities 1,028 0 0 -9 -9 1,019 EDP Renewables Italia, S.r.l. Italy - 100% PwC Holding and Wind energy production 34,439 39,677 0 5,082 5,082 79,198 EDP Renewables Italia Holding, S.R.L. Italy - 100% PwC Holding 347 295,230 -178 123,416 123,416 418,815 Re Plus, S.R.L. Italy - 100% N.A. Wind power production 100 6 0 -101 -101 5 EDPR Villa Galla, S.R.L. Italy - 100% PwC Wind power production 9,000 62,992 0 9,322 9,322 81,314 Tivano, S.R.L. Italy - 75% PwC Wind power production 100 1,807 0 1,387 1,387 3,294 AW 2, S.r.l. Italy - 75% PwC Wind power production 100 2,400 0 1,749 1,749 4,249 T Power, S.p.A. Italy - 100% Baker Tilly Revisa Wind power production 1,000 322 0 14 14 1,336 Custolito, S.r.l. Italy - 100% N.A. Wind power production 10 6 0 -8 -8 8 EDPR Sicilia PV, S.R.L. Italy - 100% PwC Photovoltaic energy pro- duction 10 171 8,808 88 88 9,077 Energia Emissioni Zero 4, S.r.l. Italy - 60% PwC Wind power production 10 7,694 0 3,151 3,151 10,855 EDPR Sicilia Wind, S.r.l. Italy - 100% PwC Wind power production 10 -805 0 190 190 -605 Winderg Val- leverde, S.r.l. Italy - 60% PwC Wind power production 180 7,623 0 -268 -268 7,535 EDPR Centro Ita- lia PV, S.r.l. Italy - 100% N.A. Photovoltaic energy pro- duction 10 264 0 -1,186 -1,186 -912 EDPR Sicilia Uno, S.r.l. Italy - 100% N.A. Power produc- tion 10 76 0 -7 -7 79 EDPR Sicilia Due, S.r.l. Italy - 100% N.A. Power produc- tion 10 84 0 -1 -1 93 EDPR Sardegna, S.r.l. Italy - 100% N.A. Power produc- tion 10 86 0 -39 -39 57
161 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL EDPR Sud Italia, S.r.l. Italy - 100% N.A. Power produc- tion 10 35 0 -18 -18 27 EDPR Sicilia Tre, S.r.l. Italy - 100% N.A. Power produc- tion 10 84 0 -7 -7 87 EDPR Puglia Due, S.r.l. Italy - 100% N.A. Power produc- tion 10 109 0 -42 -42 77 EDPR Basilicata, S.r.l. Italy - 100% N.A. Power produc- tion 10 64 0 -11 -11 63 EDPR Sicilia PV, S.r.l. Italy - 100% N.A. Photovoltaic energy pro- duction 10 0 0 -7 -7 3 EDPR BESS Uno, S.r.l. Italy - 100% N.A. Storage 10 0 0 -9 -9 1 EDPR BESS Due, S.r.l. Italy - 100% N.A. Storage 10 0 0 -9 -9 1 EDPR BESS Tre, S.r.l. Italy - 100% N.A. Storage 10 0 0 -9 -9 1 EDPR BESS Quat- tro, S.r.l. Italy - 100% N.A. Storage 10 0 0 -8 -8 2 EDPR BESS Cin- que, S.r.l. Italy - 100% N.A. Storage 10 0 0 -7 -7 3 Solar Italy I, S.r.l. Italy - 100% PwC Photovoltaic energy pro- duction 10 394 5,852 -622 -622 5,634 Solar Italy II, S.r.l. Italy - 100% PwC Photovoltaic energy pro- duction 10 685 0 -1,475 -1,475 -780 Solar Italy IV, S.r.l. Italy - 100% PwC Photovoltaic energy pro- duction 10 546 4,692 -334 -334 4,914 Solar Italy XXIII, S.r.l. Italy - 100% PwC Photovoltaic energy pro- duction 10 451 0 -54 -54 407 EDPR Sicilia Qua- ttro, S.r.l. Italy - 100% N.A. Power produc- tion 10 91 0 -9 -9 92 Wind Energy Cas- telluccio, S.r.l. Italy - 60% PwC Wind power production 10 172 0 -327 -327 -145 Wind Energy Monte Cavallo, S.r.l. Italy - 51% N.A. Wind power production 10 1 0 -9 -9 2 EDPR Sicilia PV, S.r.l. Italy - 100% N.A. Photovoltaic energy pro- duction 10 0 0 -7 -7 3 EDPR Riardo PV, S.r.l. Italy - 100% N.A. Photovoltaic energy pro- duction 10 0 0 -7 -7 3 EDPR PV 1, S.r.l. Italy - 100% N.A. Photovoltaic energy pro- duction 10 0 0 -71 -71 -61 EDPR Boccadoro, S.r.l. Italy - 100% N.A. Photovoltaic energy pro- duction 10 10,182 -222 5 5 9,975 Godo Kaisha NW- 3 Japan - 100% N.A. Photovoltaic energy pro- duction 1 -25 27,142 3,440 3,440 30,558 Miyagi Motoyoshi Solar GK Japan - 100% N.A. Photovoltaic energy pro- duction 1 -11 0 -13 -13 -23 EDPR Japan Co., Ltd. Japan - 100% N.A. Photovoltaic energy pro- duction 1,257 -2,544 0 -2,793 -2,793 -4,080 ACE Lux, S.à r.l. Luxembourg - 100% KPMG Holding 15,008 108,358 0 468 468 123,834 ACE Italy, S.à r.l. Luxembourg - 100% KPMG Holding 4,616 38,041 0 -301 -301 42,356 ACE Poland, S.à r.l. Luxembourg - 100% KPMG Holding 10,375 80,731 0 -49 -49 91,057 ACE Portugal, S.à r.l. Luxembourg - 100% KPMG Holding 21,109 174,109 0 -15 -15 195,203 Sunseap Energy (Malaysia) Sdn. Bhd. Malaysia - 100% NHT Photovoltaic energy pro- duction 1,632 -1,824 0 -264 -264 -456 Eólica de Coa- huila, S.A. de C.V. Mexico - 51% PwC Wind power production 7,500 14,802 2,860 31,802 31,802 56,964 Vientos de Coa- huila, S.A. de C.V. Mexico 0,01% 99,99% N.A. Wind power production 140,143 -13,246 0 5,865 5,865 132,762 EDPR Servicios de México, S. de R.L. de C.V. Mexico - 100% N.A. Other eco- nomic activities 6,275 -1,974 0 243 243 4,544 Parque Solar Los Cuervos, S. de R.L. de C.V. Mexico - 100% N.A. Photovoltaic energy pro- duction 173,496 14,976 0 2,531 2,531 191,003
162 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL EDPR Interna- tional Investments, B.V. Netherlands - 100% PwC Holding 20 10,306 0 80,994 80,994 91,320 Kronos Solar Pro- jects NL, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 5 124 0 -100 -100 29 KS NL3, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -98 0 -317 -317 -415 KS NL6, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -42 0 -100 -100 -142 KS NL8, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -287 0 -165 -165 -452 KS NL10, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -26 0 -31 -31 -57 KS NL12, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -42 0 -91 -91 -133 KS NL13, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -101 0 -296 -296 -397 KS NL14, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -195 0 -324 -324 -519 KS NL16, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -42 0 -87 -87 -129 KS NL17, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -65 0 -167 -167 -232 KS NL20, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -50 0 -238 -238 -288 KS NL23, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -133 0 -112 -112 -245 KS NL24, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -37 0 -86 -86 -123 KS NL25, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -24 0 -91 -91 -115 KS NL27, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -88 0 -131 -131 -218 KS NL28, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -237 0 -332 -332 -569 KS NL29, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -29 0 -19 -19 -48 KS NL30, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -22 0 -19 -19 -41 KS NL31, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -45 0 -80 -80 -125 KS NL32, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -181 0 -175 -175 -356 KS NL33, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -40 0 -95 -95 -134 KS NL34, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -141 0 -131 -131 -272 KS NL35, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -29 0 -83 -83 -112 KS NL36, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -38 0 -51 -51 -89 KS NL37, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -50 0 -52 -52 -102 KS NL38, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -22 0 -31 -31 -53 KS NL39, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -29 0 -51 -51 -80
163 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL KS NL40, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -19 0 -53 -53 -72 KS NL42, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -20 0 -40 -40 -60 KS NL43, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -69 0 -43 -43 -112 KS NL44, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -37 0 -38 -38 -75 KS NL45, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -40 0 -39 -39 -78 KS NL46, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -20 0 -42 -42 -62 KS NL47, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -27 0 -51 -51 -78 KS NL48, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -40 0 -38 -38 -77 KS NL49, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -25 0 -38 -38 -63 KS NL50, B.V. Netherlands - 100% N.A. Photovoltaic energy pro- duction 0 -29 0 -64 -64 -93 R.Wind, Sp. z o.o. Poland - 100% N.A. Wind power production 1 -187 0 -305 -305 -491 EDP Renewables Polska, Sp. z o.o. Poland - 100% PwC Holding and Wind energy production 101,813 437,251 0 25,311 25,311 564,375 Relax Wind Park III, Sp. z o.o. Poland - 100% PwC Wind power production 13,949 31,588 0 8,877 8,877 54,414 Relax Wind Park I, Sp. z o.o. Poland - 100% PwC Wind power production 10,892 48,212 0 17,518 17,518 76,622 Elektrownia Wiatrowa Kresy I, Sp. z o.o. Poland - 100% PwC Wind power production 16 91,684 0 15,978 15,978 107,678 Masovia Wind Farm I, Sp. z o.o. Poland - 100% PwC Wind power production 294 -401 0 -253 -253 -360 Farma Wiatrowa Starozreby, Sp. z o.o. Poland - 100% N.A. Wind power production 109 161 0 -90 -90 180 Rowy-Karpacka Mala Energetyka, Sp. z o.o. Poland - 85% N.A. Wind power production -250 -312 0 -7 -7 -569 Farma Fotowol- taiczna Iłża, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 -1 0 -178 -178 -178 Molen Wind II, Sp. z o.o. Poland - 100% PwC Wind power production 3 35,905 0 6,833 6,833 42,741 Korsze Wind Farm, Sp. z o.o. Poland - 100% PwC Wind power production 8,367 28,934 0 14,222 14,222 51,523 Radziejów Wind Farm, Sp. z o.o. Poland - 100% PwC Wind power production 6,460 520 0 1,692 1,692 8,672 Miramit Invest- ments, Sp. z o.o. Poland - 100% N.A. Wind power production 13 89 0 -120 -120 -18 EDP Renewables Polska HoldCo, S.A. Poland - 100% PwC Holding 23 240,947 0 49,355 49,355 290,325 Rampton, Sp. z o.o. Poland - 100% N.A. Wind power production 2,575 -178 0 122 122 2,519 EDP Renewables Polska Solar, Sp. Z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 -2,206 -6 -2,475 -2,475 -4,686 Gudziki Wind Farm, Sp. z o.o. Poland - 100% PwC Wind power production 8,358 5,844 0 5,247 5,247 19,449 WF Energy III, Sp. z o.o. Poland - 100% N.A. Wind power production 1 -16 0 -242 -242 -257 Farma Fotowol- taiczna Koden, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 -89 0 -85 -85 -173 Farma Fotowol- taiczna Pakosław, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 0 -48 -818 -818 -865 Neo Solar Przykona II, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 -99 0 -636 -636 -734
164 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Elektrownia Ka- mienica, Sp. z o.o. Poland - 100% N.A. Wind power production 1 -58 0 -570 -570 -627 Budzyn, Sp. z o.o. Poland - 100% PwC Wind power production 1 -63 0 -321 -321 -383 Wind Farm Debrzno, Sp. z o.o. Poland - 100% N.A. Wind power production 1 0 0 -295 -295 -294 Wind Farm Gniewkowo, Sp. z o.o. Poland - 100% N.A. Wind power production 1 0 0 -266 -266 -265 EDP Renewables Polska Solar, Sp. z o.o. Poland - 100% N.A. Wind power production 1 0 0 -655 -655 -654 EDPR Polska So- lar 2, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 0 0 -130 -130 -129 EDP Renewables Polska Almace- namiento , Sp. z o.o. Poland - 100% N.A. Storage 1 0 0 -115 -115 -114 Ene-Wia, Sp. z o.o. Poland - 100% N.A. Wind power production 2 -30 0 -184 -184 -212 Rampton Trading, Sp. z o.o. Poland - 100% N.A. Other eco- nomic activities 2,341 0 0 -141 -141 2,200 Ekoenergia Solar 3, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 -17 601 -278 -278 307 CSH III Renewa- bles, Sp. z o.o. Poland - 100% N.A. Power produc- tion 1 -49 0 -620 -620 -668 Farma Fotowol- taiczna Poturzyn, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 0 0 -284 -284 -283 Farma Fotowol- taiczna Warta, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 -57 0 -154 -154 -210 Farma Fotowol- taiczna Wielkopolska, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 16 0 -351 -351 -334 Farma Fotowol- taiczna Radziejów, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 -24 0 -226 -226 -249 Farma Fotowol- taiczna Ujazd, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 -17 0 -277 -277 -293 Farma Fotowol- taiczna Budzyn, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 -14 888 -521 -521 354 Farma Fotowol- taiczna Dobrzyca, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 -16 0 -333 -333 -348 Farma Fotowol- taiczna Tomaszów, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 -23 0 -147 -147 -169 EDP Renewables Polska Wind 1, Sp. z o.o. Poland - 100% N.A. Wind power production 1 0 0 -116 -116 -115 EDP Renewables Polska Wind 2, Sp. z o.o. Poland - 100% N.A. Wind power production 1 0 0 -116 -116 -115 EDP Renewables Polska Wind 3, Sp. z o.o. Poland - 100% N.A. Wind power production 1 0 0 -116 -116 -115 EDP Renewables Polska Wind 4, Sp. z o.o. Poland - 100% N.A. Wind power production 1 0 0 -99 -99 -98 EDP Renewables Polska Wind 5, Sp. z o.o. Poland - 100% N.A. Wind power production 1 0 0 0 0 1 EDP Renewables Polska Wind 6, Sp. z o.o. Poland - 100% N.A. Wind power production 1 0 0 0 0 1 Eólica do Alto da Teixosa, S.A. Portugal - 100% PwC Wind power production 690 14,827 -1 2,070 2,070 17,586 Eólica de Alagoa, S.A. Portugal - 31% PwC Wind power production 50 3,589 0 1,327 1,327 4,966 Eólica da Serra das Alturas, S.A. Portugal - 26% PwC Wind power production 50 9,008 0 1,017 1,017 10,075
165 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Eólica do Alto do Mourisco, S.A. Portugal - 100% PwC Wind power production 1,240 12,879 0 1,229 1,229 15,348 Eólica das Serras das Beiras, S.A. Portugal - 100% PwC Wind power production 50 56,175 0 7,908 7,908 64,133 SPEE - Sociedade Produção de Energia Eólica, S.A. Portugal - 100% PwC Wind power production 350 62 0 -218 -218 194 Eólica da Cou- tada II, S.A. Portugal - 100% PwC Wind power production 14,160 3,641 0 -14 -14 17,787 Fotovoltaica Flu- tuante do Grande Lago, S.A. Portugal - 100% PwC Photovoltaic energy pro- duction 50 1,426 131 -93 -93 1,514 EDP Renováveis Portugal, S.A. Portugal - 51% PwC Holding and Wind energy production 7,500 155,416 -912 43,065 43,065 205,069 Malhadizes - Energia Eólica, S.A. Portugal - 51% PwC Wind power production 50 12,446 1,143 492 492 14,131 EDPR PT - Promo- ção e Operação, S.A. Portugal - 100% PwC Wind power production 58 356,261 0 9,024 9,024 365,343 Fotovoltaica Lote A, S.A. Portugal - 100% PwC Photovoltaic energy pro- duction 48,760 5,668 4,198 15,038 15,038 73,664 Eólica da Terra do Mato, S.A. Portugal - 100% PwC Wind power production 8,840 16,667 0 2,748 2,748 28,255 Eólica do Alto da Lagoa, S.A. Portugal - 100% PwC Wind power production 50 14,714 0 2,254 2,254 17,018 EDPR PT - Par- ques Eólicos, S.A. Portugal - 100% PwC Wind power production 50 50,332 0 895 895 51,277 S.E.E. - Sul Ener- gía Eólica, S.A. Portugal - 100% PwC Wind power production 150 1,958 0 927 927 3,035 Parque Eólico do Barlavento, S.A. Portugal - 90% PwC Wind power production 60 23,892 0 5,957 5,957 29,909 EDPR Cross Solu- tions, S.A. Portugal - 100% PwC Power produc- tion 50 86 0 92 92 228 Eólica da Cou- tada, S.A. Portugal - 100% PwC Wind power production 19,290 78,003 -3 11,776 11,776 109,066 Eólica do Espi- gão, S.A. Portugal - 100% PwC Wind power production 50 18,049 0 2,943 2,943 21,042 Eólica de Monte- negrelo, S.A. Portugal - 26% PwC Wind power production 50 12,493 0 2,378 2,378 14,921 Eólica dos Altos de Salgueiros- Guilhado, S.A. Portugal - 100% PwC Wind power production 600 6,053 0 853 853 7,506 Altnabreac Wind Farm Limited United Kingdom - 100% PwC Wind power production 2,740 -3,098 0 -138 -138 -496 Ben Sca Wind Farm Limited United Kingdom - 100% PwC Wind power production 2,352 -1,653 0 124 124 823 Moorshield Wind Farm Limited United Kingdom - 100% PwC Wind power production 1,526 -1,327 0 -516 -516 -317 Drummarnock Wind Farm Lim- ited United Kingdom - 100% PwC Wind power production 1,629 -1,411 0 -367 -367 -149 Balmeanach Wind Farm Lim- ited United Kingdom - 100% PwC Wind power production 1,462 -1,409 0 85 85 138 EDP Renewables UK Limited United Kingdom - 100% PwC Wind power production 11,876 -7,012 0 2,335 2,335 7,199 Muirake Wind Farm Ltd United Kingdom - 79% PwC Wind power production 0 3,228 0 421 421 3,649 Lurg Hill Wind Farm Ltd United Kingdom - 100% PwC Wind power production 843 -1,125 0 -578 -578 -860 Harrington Frank- lin Limited United Kingdom - 100% N.A. Storage 640 -123 -136 -1,062 -1,062 -681 Balnacraig Bat- tery Storage Limited United Kingdom - 100% N.A. Storage 0 -88 -132 -5,841 -5,841 -6,061 Kronos Solar Pro- jects Limited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 51 0 -77 -77 -26 KS SPV 46 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -422 0 -40 -40 -462 KS SPV 65 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -125 0 -10 -10 -135 KS SPV 69 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -126 0 29 29 -97
166 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL KS SPV 70 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -72 0 -211 -211 -283 KS SPV 71 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -53 0 -37 -37 -90 KS SPV 72 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -72 0 -23 -23 -95 KS SPV 73 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -85 0 -14 -14 -99 KS SPV 74 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -153 0 93 93 -60 KS SPV 75 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -299 0 -47 -47 -346 KS SPV 76 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -69 0 26 26 -43 KS SPV 77 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -124 0 -57 -57 -181 KS SPV 78 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -40 0 -22 -22 -62 KS SPV 79 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -71 0 -71 -71 -142 KS SPV 80 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -87 0 19 19 -68 KS SPV 62 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -323 0 -42 -42 -365 KS SPV 64 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -41 0 -51 -51 -92 KS SPV 67 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -90 0 -34 -34 -124 KS SPV 68 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -53 0 1 1 -52 KS SPV 81 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -38 0 12 12 -26 KS SPV 82 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -134 0 -24 -24 -158 KS SPV 83 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -95 0 -39 -39 -134 KS SPV 84 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -51 0 12 12 -39 KS SPV 85 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -35 0 7 7 -28 KS SPV 00 Lim- ited United Kingdom - 100% Ensors Photovoltaic energy pro- duction 0 -144 0 -340 -340 -484 EDPR România, S.R.L. Romania - 100% PwC Wind power production 299,805 190,879 0 56,947 56,947 547,631 International So- lar Energy, S.R.L. Romania - 100% N.A. Photovoltaic energy pro- duction 8,042 -1,387 0 -2,922 -2,922 3,733 Solar Phoenix, S.R.L. Romania - 100% N.A. Photovoltaic energy pro- duction 16 -426 0 -191 -191 -601 Energopark, S.R.L. Romania - 100% N.A. Wind power production 27 -353 0 -239 -239 -565 Beta Wind, S.R.L. Romania - 100% N.A. Wind power production 42 4,655 0 -222 -222 4,475 Fravezac, S.R.L. Romania - 100% N.A. Power produc- tion 1,169 -756 0 -239 -239 174 EDPR Wind En- ergy, S.R.L. Romania - 100% N.A. Wind power production 0 0 0 0 0 0 International So- lar Energy, S.R.L. Romania - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0
167 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Trung Son SG Pte. Ltd. Singapore 100% - PwC Photovoltaic energy pro- duction 13,836 -856 0 -76 -76 12,904 LYS Energy In- vestment Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 12,826 -2,440 0 -153 -153 10,233 Sunseap Group Pte. Ltd. Singapore 95% - PwC Photovoltaic energy pro- duction 483,958 -35,893 0 3,434 3,434 451,499 Sunseap Interna- tional Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 53,400 -17,685 0 4,097 4,097 39,812 Sunseap Engi- neering Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 1,483 -6,957 0 -1,385 -1,385 -6,859 Sunseap Leasing Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 78,971 -1,003 251 -3,875 -3,875 74,344 SolarNova Phase 1 Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 0 13,308 157 3,223 3,223 16,688 Sunseap Com- mercial Assets Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 11,705 8,312 889 3,713 3,713 24,619 Sunseap Energy Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 48,682 -44,660 -248 -99 -99 3,675 Sunseap Energy Ventures Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 0 2,644 0 304 304 2,948 Sunseap CMX RE Solar Holdings Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 0 15,466 0 -40 -40 15,426 Sunseap Links Pte. Ltd. Singapore - 80% PwC Photovoltaic energy pro- duction 0 -5,569 0 -156 -156 -5,725 Sunseap Links Daklong Pte. Ltd. Singapore - 95% PwC Photovoltaic energy pro- duction 0 -6,558 0 -186 -186 -6,744 Sunseap China Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 42,026 -313 0 -303 -303 41,410 Sunseap Japan Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 0 -413 0 -27 -27 -440 Sunseap Taiwan Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 0 -374 0 702 702 328 Sunseap Aus- tralia Holdings Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 0 -3,651 0 985 985 -2,666 Sunseap Delta Holdings Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 0 -242 0 53 53 -189 EDPR Sunseap Korea Holdings Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 6,602 -278 0 6 6 6,330 Sunseap Gamma Holdings Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 0 -56 6 -215 -215 -265 SolarNova 4 Beta Assets Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 40,733 -3,766 -18,947 2,942 2,942 20,962 Solarland Alpha Assets Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 3,992 -2,887 -23,449 -4,342 -4,342 -26,686 Data4Eco Hold- ings Pte. Ltd. Singapore - 60% PwC Photovoltaic energy pro- duction 35 -130 0 -16 -16 -111 Sunseap Indone- sia Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 1,224 -71 0 -40 -40 1,113 Sunseap Batam Pte. Ltd. Singapore - 100% PwC Photovoltaic energy pro- duction 4,914 -161 0 -123 -123 4,630 EDPR Intercon- nection Holdings Pte. Ltd. Singapore - 100% PwC Holding 5,983 0 0 -8 -8 5,975 EDPR GenCo Pte. Ltd. Singapore - 100% PwC Other eco- nomic activities 1,059 0 0 -43 -43 1,016 Green Corridor Indonesia Pte. Ltd. Singapore - 100% PwC Other eco- nomic activities 4,872 0 0 -4 -4 4,868
168 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Japan Tk Invest- ment Pte. Ltd. Singapore - 100% PwC Other eco- nomic activities 0 0 0 -2 -2 -2 Sunseap Energy (Thailand) Co., Ltd. Thailand - 96%Thai Info Ltd Photovoltaic energy pro- duction 1,261 -935 0 -1,363 -1,363 -1,037 Thai-Sunseap Co., Ltd. Thailand - 67% N.A. Photovoltaic energy pro- duction 6,330 -144 0 0 0 6,186 Sunseap Taiwan Solar Holdings Ltd. Taiwan - 100% PwC Photovoltaic energy pro- duction 13,397 -837 0 -795 -795 11,765 Pacific Sunseap Energy Ltd. Taiwan - 65% PwC Photovoltaic energy pro- duction 10,188 -45 0 -12 -12 10,131 Top Green Energy Ltd. Taiwan - 65% PwC Photovoltaic energy pro- duction 10,012 503 416 306 306 11,237 Sunseap Ad- vance Green Technology Ltd. Taiwan - 100% PwC Photovoltaic energy pro- duction 2,936 -3,525 38 3,386 3,386 2,835 Sunseap Ad- vance International Ltd. Taiwan - 100% PwC Photovoltaic energy pro- duction 147 -20 0 -8 -8 119 Shuangjian Pho- toelectric Ltd. Taiwan - 70% PwC Photovoltaic energy pro- duction 1,527 -91 0 -34 -34 1,402 Hoya Energy Ltd. Taiwan - 100% PwC Photovoltaic energy pro- duction 2,613 63 88 234 234 2,998 Songbo Energy Co., Ltd. Taiwan - 100% N.A. Photovoltaic energy pro- duction 3 -203 0 -2,683 -2,683 -2,883 Timber Road So- lar Park II LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 -4 -4 -5 Timber Road So- lar Park III LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDPR Scarlet II BESS LLC USA - 100% N.A. Power produc- tion 227,633 -12,534 0 -12,330 -12,330 202,769 Ragsdale Solar II LLC USA - 100% N.A. Photovoltaic energy pro- duction 2 -2 0 0 0 0 Sweet Acres So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 New Road Power LLC USA - 100% N.A. Power produc- tion 92 -60 0 -52 -52 -20 Iron Valley Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Edwardsport So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 37 -19 0 -37 -37 -19 Timber Road II Al- macenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Timber Road III Almacenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Top Crop I Alma- cenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Top Crop II Alma- cenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Twin Groves I Al- macenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Twin Groves II Al- macenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Misenheimer So- lar LLC USA - 100% PwC Photovoltaic energy pro- duction 132,949 -7 0 4,032 4,032 136,974 Sandrini LandCo LLC USA - 100% N.A. Power produc- tion 0 0 0 0 0 0 EDPR Northeast Allen Solar Park III LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Trolley Barn Al- macenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0
169 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Azalea Springs Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 134,845 -12 -25,049 -537 -537 109,247 Duff Solar Park II LLC USA - 100% N.A. Photovoltaic energy pro- duction 8 -2 0 -14 -14 -8 EDPR Northeast Allen Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 1,900 -1 0 0 0 1,899 Indiana Cross- roads Solar Park II LLC USA - 100% N.A. Photovoltaic energy pro- duction 11 -6 0 -10 -10 -4 RTSW Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 RTSW Solar Park II LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 RTSW Solar Park III LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 RTSW Solar Park IV LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 RTSW Solar Park V LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 RTSW Solar Park VI LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDPR Solar Ven- tures V LLC USA - 100% N.A. Photovoltaic energy pro- duction 34,199 16,756 0 5,898 5,898 56,853 Goldfinger Ven- tures III LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Alabama Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 4,636 -6 0 -1 -1 4,629 Teays River Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 5 -3 0 -6 -6 -4 Solar Ventures Purchasing LLC USA - 100% N.A. Photovoltaic energy pro- duction -24,128 23,313 0 4 4 -811 Esker Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 274 0 0 0 0 274 EDPR Solar Ven- tures III LLC USA - 100% N.A. Photovoltaic energy pro- duction 64,583 19,844 0 5,689 5,689 90,116 Greenbow Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 144 -96 0 -88 -88 -40 Holly Hill Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Pleasantville So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 16,025 -2 -14,286 -1,627 -1,627 110 Mineral Springs Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDPR Solar Ven- tures IV LLC USA - 100% N.A. Photovoltaic energy pro- duction 75,513 35,933 0 9,195 9,195 120,641 Black Prairie So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 4,754 0 0 0 0 4,754 Duff Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 46 0 0 -149 -149 -103 Eastmill Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 1 -1 0 0 0 0 Lowland Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 7,203 -20 0 -2 -2 7,181 Moonshine Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 2,974 -2 0 0 0 2,972 Sedge Meadow Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 58 -28 0 -61 -61 -31
170 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Helena Harbor Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Headwaters Wind Farm III LLC USA - 100% N.A. Wind power production 4,399 435 13,349 555 555 18,738 Loki Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Leprechaun So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Little Brook Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDPR Wind Ven- tures XX LLC USA - 100% N.A. Wind power production -92,120 138,649 -21,539 5,965 5,965 30,955 EDPR Wind Ven- tures XXI LLC USA - 100% N.A. Wind power production 129,340 22,758 0 9,807 9,807 161,905 2019 Vento XXI LLC USA - 100% PwC Wind power production 256,983 -717 0 -402 -402 255,864 Bright Stalk Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 672 -4 0 0 0 668 Crossing Trails Wind Power Pro- ject II LLC USA - 100% N.A. Wind power production 449 -97 0 -561 -561 -209 Headwaters Wind Farm IV LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Tillman Solar Park II LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Indiana Cross- roads Wind Ventures LLC USA - 100% N.A. Wind power production 14 -13 0 -6 -6 -5 Riverstart Solar Park VI LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Shelby Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDPR Northeast Allen Solar Park II LLC USA - 100% N.A. Photovoltaic energy pro- duction 218 -2 0 0 0 216 Teays River Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 -2 -2 -2 EDPR Wind Ven- tures XXII LLC USA - 100% N.A. Wind power production 351,166 50,670 0 28,588 28,588 430,424 2020 Vento XXII LLC USA - 100% PwC Wind power production 951,423 -7,838 0 -1,364 -1,364 942,221 Rosewater Ven- tures LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Crescent Bar So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Esker Solar Park II LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Bluebird Prairie Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Tillman Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 4 -2 0 0 0 2 RE Scarlet LLC USA - 100% N.A. Wind power production 394,050 -33,975 0 25,342 25,342 385,417 EDPR Solar Ven- tures XIII LLC USA - 100% N.A. Holding 127,088 0 0 5,836 5,836 132,924 2024 Sol VIII LLC USA - 100% N.A. Holding 348,535 0 0 -4 -4 348,531 Twin Groves So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Columbus Alma- cenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Lumberjack Al- macenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Buffalo Lick Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Winding Canyon Wind LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0
171 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Prospector Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Rye Patch Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Loblolly Hill Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Meadow Lake Wind Farm VIII LLC USA - 100% N.A. Wind power production 0 -31 0 0 0 -31 Loyal Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Marathon Wind Farm LLC USA - 100% N.A. Wind power production 4,323 -26 0 0 0 4,297 EDPR Wind Ven- tures XIX LLC USA - 100% N.A. Wind power production -93,040 113,280 -4,054 5,925 5,925 22,111 Cielo Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Quilt Block Wind Farm II LLC USA - 100% N.A. Wind power production 1 -1 0 0 0 0 Shullsburg Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Loma de la Gloria Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Wrangler Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 San Clemente Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Wildcat Creek Wind Farm LLC USA - 100% PwC Wind power production 243,825 -4,503 0 2,267 2,267 241,589 Indiana Cross- roads Wind Farm II LLC USA - 100% PwC Wind power production 310,920 647 0 6,062 6,062 317,629 Bayou Bend Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 977 0 0 0 0 977 Poplar Camp Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Avondale Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 2,663 0 0 38 38 2,701 EDPR Wind Ven- tures XVIII LLC USA - 100% N.A. Wind power production 137,937 59,558 0 20,532 20,532 218,027 2018 Vento XVIII LLC USA - 100% PwC Wind power production 372,963 -735 0 -157 -157 372,071 Coldwater Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Sweet Stream Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 EDPR Solar Ven- tures II LLC USA - 100% N.A. Photovoltaic energy pro- duction 49,197 33,632 0 165 165 82,994 2017 Sol II LLC USA - 100% PwC Photovoltaic energy pro- duction 96,444 -243 0 -60 -60 96,141 Cameron Solar LLC USA - 100% PwC Photovoltaic energy pro- duction 30,875 273 0 -129 -129 31,019 Estill Solar I LLC USA - 100% PwC Photovoltaic energy pro- duction 34,759 -547 0 -642 -642 33,570 Hampton Solar II LLC USA - 100% PwC Photovoltaic energy pro- duction 30,923 1,395 0 -102 -102 32,216 EDPR Wind Ven- tures XVII LLC USA - 100% N.A. Wind power production -167,622 208,028 0 6,652 6,652 47,058 Franklin Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Paulding Wind Farm IV LLC USA - 100% PwC Wind power production 193,707 -14,472 -49,114 -3,552 -3,552 126,569 Rush County Wind Farm LLC USA - 100% N.A. Wind power production 2,841 0 0 -2,871 -2,871 -30 EDPR South Ta- ble LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0
172 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Casa Grande Carmel Solar LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Paulding Wind Farm V LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Headwaters Wind Farm II LLC USA - 100% PwC Wind power production 244,444 -6,062 -55,783 -2,254 -2,254 180,345 Waverly Wind Farm II LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Spruce Ridge Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Reloj del Sol Wind Farm LLC USA - 100% PwC Wind power production 304,726 -32,746 0 976 976 272,956 2016 Vento XV LLC USA - 100% PwC Wind power production 429,053 -1,080 0 -619 -619 427,354 2016 Vento XVI LLC USA - 100% PwC Wind power production 116,251 -885 0 -170 -170 115,196 EDPR Wind Ven- tures XV LLC USA - 100% N.A. Wind power production 111,683 97,388 0 19,569 19,569 228,640 EDPR Wind Ven- tures XVI LLC USA - 100% N.A. Wind power production 41,692 18,689 0 6,437 6,437 66,818 Blue Marmot I LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Blue Marmot II LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Drake Peak Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Blue Marmot IV LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Blue Marmot V LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Blue Marmot VI LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Blue Marmot VII LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Blue Marmot VIII LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Blue Marmot IX LLC USA - 100% N.A. Wind power production 3,943 -4 0 0 0 3,939 Blue Marmot So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Blue Marmot XI LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Horse Mountain Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Riverstart Solar Park II LLC USA - 100% N.A. Photovoltaic energy pro- duction 799 -2 0 0 0 797 Hidalgo Wind Farm II LLC USA - 100% PwC Wind power production 65,253 -5,376 -10,720 -3,047 -3,047 46,110 Long Hollow Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Castle Valley Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 White Stone So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Riverstart Solar Park III LLC USA - 100% N.A. Photovoltaic energy pro- duction 165,209 -3,677 -6,701 2,690 2,690 157,521 Dry Creek Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Riverstart Solar Park IV LLC USA - 100% N.A. Photovoltaic energy pro- duction 23,347 432 -16,277 -2,939 -2,939 4,563 Riverstart Solar Park V LLC USA - 100% N.A. Photovoltaic energy pro- duction 6,399 -32 0 -1 -1 6,366 Paulding Wind Farm VI LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Renville County Wind Farm LLC USA - 100% N.A. Wind power production 1,583 -1 0 0 0 1,582 EDPR CA Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 162,100 -1,077 0 -2,521 -2,521 158,502 EDPR CA Solar Park II LLC USA - 100% N.A. Photovoltaic energy pro- duction 91,051 -6,539 0 278 278 84,790
173 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL EDPR CA Solar Park III LLC USA - 100% N.A. Photovoltaic energy pro- duction 20,055 -42 0 -1 -1 20,012 EDPR CA Solar Park IV LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDPR CA Solar Park V LLC USA - 100% N.A. Photovoltaic energy pro- duction 17 -11 0 -227 -227 -221 EDPR CA Solar Park VI LLC USA - 100% N.A. Photovoltaic energy pro- duction 39,576 -307 0 -1 -1 39,268 EDP Renewables North America LLC USA 100% - PwC Holding and Wind energy production 8,425,483 -840,921 40,647 -118,008 -118,008 7,507,201 Wind Turbine Prometheus LP USA - 100% N.A. Wind power production 6 -6 0 0 0 0 Lost Lakes Wind Farm LLC USA - 100% N.A. Wind power production 105,238 -10,586 0 -4,229 -4,229 90,423 Whitestone Wind Purchasing LLC USA - 100% N.A. Wind power production 194,467 26,518 0 -838 -838 220,147 Blue Canyon Windpower V LLC USA - 51% PwC Wind power production -27,082 109,876 0 8,415 8,415 91,209 Sagebrush Power Partners LLC USA - 100% PwC Wind power production 126,337 -5,355 0 1,551 1,551 122,533 Marble River LLC USA - 100% N.A. Wind power production 164,277 37,596 0 -880 -880 200,993 Blackstone Wind Farm LLC USA - 100% N.A. Wind power production 63,116 10,010 0 -93 -93 73,033 Aroostook Wind Energy LLC USA - 100% N.A. Wind power production 46,778 -5,289 0 -14 -14 41,475 Jericho Rise Wind Farm LLC USA - 100% PwC Wind power production 97,537 16,249 0 3,143 3,143 116,929 Signal Hill Wind Power Project LLC USA - 100% N.A. Wind power production 4 -4 0 0 0 0 Tumbleweed Wind Power Pro- ject LLC USA - 100% N.A. Wind power production 4 -4 0 0 0 0 Stinson Mills Wind Farm LLC USA - 100% N.A. Wind power production 4,557 -96 0 0 0 4,461 OPQ Property LLC USA - 100% N.A. Wind power production -195 195 0 0 0 0 Meadow Lake Wind Farm LLC USA - 100% N.A. Wind power production 153,477 -20,079 0 4,066 4,066 137,464 Wheat Field Wind Power Project LLC USA - 51% PwC Wind power production -51,905 97,334 0 6,908 6,908 52,337 High Trail Wind Farm LLC USA - 100% PwC Wind power production 96,429 81,347 0 -112 -112 177,664 Madison Windpower LLC USA - 100% PwC Wind power production 19,992 -16,613 0 -1,427 -1,427 1,952 Mesquite Wind LLC USA - 100% PwC Wind power production 94,181 58,264 0 -13,657 -13,657 138,788 BC2 Maple Ridge Wind LLC USA - 100% PwC Wind power production 258,746 -159,176 0 -9,020 -9,020 90,550 Blue Canyon Windpower II LLC USA - 100% PwC Wind power production 271,920 -65,618 0 -9,479 -9,479 196,823 Telocaset Wind Power Partners LLC USA - 51% PwC Wind power production -46,373 112,062 199 9,682 9,682 75,570 Post Oak Wind LLC USA - 51% PwC Wind power production 99,235 66,501 0 -14,890 -14,890 150,846 High Prairie Wind Farm II LLC USA - 51% PwC Wind power production 26,317 39,161 241 3,136 3,136 68,855 Old Trail Wind Farm LLC USA - 51% PwC Wind power production 34,004 131,972 1,572 14,152 14,152 181,700 Cloud County Wind Farm LLC USA - 51% PwC Wind power production 85,174 59,887 0 4,078 4,078 149,139 Pioneer Prairie Wind Farm I LLC USA - 51% PwC Wind power production 94,947 158,487 5,023 11,754 11,754 270,211 Arlington Wind Power Project LLC USA - 51% PwC Wind power production 34,440 47,165 0 -40 -40 81,565 Rail Splitter Wind Farm LLC USA - 100% PwC Wind power production 178,314 -65,985 0 -4,992 -4,992 107,337 Meadow Lake Wind Farm II LLC USA - 100% PwC Wind power production 128,805 -26,556 0 -4,372 -4,372 97,877 Black Prairie Wind Farm LLC USA - 100% N.A. Wind power production 1,139 -3 0 0 0 1,136
174 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Meadow Lake Wind Farm IV LLC USA - 100% N.A. Wind power production 83,450 -7,436 0 -8,694 -8,694 67,320 Blackstone Wind Farm II LLC USA - 100% N.A. Wind power production 143,754 20,617 0 82 82 164,453 Saddleback Wind Power Project LLC USA - 100% N.A. Wind power production 1,304 -1,299 0 0 0 5 Meadow Lake Wind Farm III LLC USA - 100% N.A. Wind power production 66,569 12,234 0 1,501 1,501 80,304 2007 Vento I LLC USA - 100% PwC Wind power production 449,618 57,600 0 4,242 4,242 511,460 2007 Vento II LLC USA - 51% PwC Wind power production 118,813 -5,796 0 -195 -195 112,822 2008 Vento III LLC USA - 51% PwC Wind power production 220,894 -6,784 0 -46 -46 214,064 2009 Vento V LLC USA - 51% PwC Wind power production -25,921 -1,312 0 -25 -25 -27,258 Horizon Wind Ventures I LLC USA - 100% N.A. Wind power production -67,400 457,852 0 602 602 391,054 Horizon Wind Ventures III LLC USA - 51% N.A. Wind power production -78,491 49,524 0 479 479 -28,488 Clinton County Wind Farm LLC USA - 100% N.A. Wind power production 164,285 -7 0 0 0 164,278 Antelope Ridge Wind Power Pro- ject LLC USA - 100% N.A. Wind power production 12,348 -12,348 0 0 0 0 Lexington Chenoa Wind Farm II LLC USA - 100% N.A. Wind power production 3,190 -579 0 0 0 2,611 Blackstone Wind Farm III LLC USA - 100% N.A. Wind power production 6,040 -6,040 0 0 0 0 Paulding Wind Farm LLC USA - 100% N.A. Wind power production 37 -37 0 0 0 0 Paulding Wind Farm II LLC USA - 51% PwC Wind power production 15,155 80,505 0 7,863 7,863 103,523 Waverly Wind Farm LLC USA - 51% PwC Wind power production 179,867 39,277 0 2,038 2,038 221,182 Blue Canyon Windpower VI LLC USA - 100% PwC Wind power production 87,425 2,654 0 -7,397 -7,397 82,682 Paulding Wind Farm III LLC USA - 100% PwC Wind power production 115,162 27,552 0 5,410 5,410 148,124 2011 Vento IX LLC USA - 51% PwC Wind power production 16,580 -1,514 0 -133 -133 14,933 Horizon Wind Ventures IX LLC USA - 51% N.A. Wind power production -20,037 1,921 0 1,875 1,875 -16,241 EDPR Vento IV Holding LLC USA - 100% PwC Wind power production 118,703 18,206 0 0 0 136,909 Headwaters Wind Farm LLC USA - 51% PwC Wind power production 137,762 95,871 0 10,615 10,615 244,248 Lone Valley Solar Park I LLC USA - 50% PwC Photovoltaic energy pro- duction 17,923 2,775 0 573 573 21,271 Lone Valley Solar Park II LLC USA - 50% PwC Photovoltaic energy pro- duction 27,461 10,515 0 1,667 1,667 39,643 Rising Tree Wind Farm LLC USA - 51% PwC Wind power production 41,467 63,851 0 10,982 10,982 116,300 Arbuckle Moun- tain Wind Farm LLC USA - 51% PwC Wind power production 126,324 -7,743 0 -1,295 -1,295 117,286 Hidalgo Wind Farm LLC USA - 100% PwC Wind power production 331,826 -36,709 -7,972 -14,250 -14,250 272,895 Rising Tree Wind Farm III LLC USA - 51% PwC Wind power production 76,741 61,180 0 8,245 8,245 146,166 Rising Tree Wind Farm II LLC USA - 51% PwC Wind power production 16,115 7,934 0 1,234 1,234 25,283 Wheat Field Holding LLC USA - 51% PwC Holding -51,761 -172 0 -4 -4 -51,937 EDPR WF LLC USA - 100% N.A. Wind power production 38,468 0 0 0 0 38,468 Sustaining Power Solutions LLC USA - 100% N.A. Wind power production 167,009 -152,894 -1,653 14,123 14,123 26,585 Green Power Off- sets LLC USA - 100% N.A. Wind power production 10 -10 0 0 0 0 Arkwright Sum- mit Wind Farm LLC USA - 100% PwC Wind power production 150,567 10,562 -577 1,147 1,147 161,699 Randolph Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 277,673 -227 0 -1,654 -1,654 275,792
175 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL EDPR Vento I Holding LLC USA - 100% N.A. Wind power production 220,844 0 0 0 0 220,844 Turtle Creek Wind Farm LLC USA - 100% PwC Wind power production 219,845 25,536 0 -850 -850 244,531 Rio Blanco Wind Farm LLC USA - 100% N.A. Wind power production 3,008 -1 0 0 0 3,007 BC2 Maple Ridge Holdings LLC USA - 100% N.A. Holding 0 0 0 0 0 0 Plum Nellie Wind Farm LLC USA - 100% N.A. Wind power production 4,888 -56 0 0 0 4,832 Five-Spot LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Horizon Wind Chocolate Bayou I LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Alabama Ledge Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Ashford Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Athena-Weston Wind Power Pro- ject LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Lexington Chenoa Wind Farm III LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Blackstone Wind Farm IV LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 WTP Manage- ment Company LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Blackstone Wind Farm V LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Blue Canyon Windpower III LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Blue Canyon Windpower IV LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Broadlands Wind Farm II LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Broadlands Wind Farm III LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Chateaugay River Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Cropsey Ridge Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 EDPR Wind Ven- tures XI LLC USA - 51% N.A. Wind power production 3,918 84,021 0 17,057 17,057 104,996 EDPR Wind Ven- tures XII LLC USA - 51% N.A. Wind power production 21,178 17,921 0 7,999 7,999 47,098 EDPR Wind Ven- tures XIII LLC USA - 51% N.A. Wind power production 63,360 60,965 0 15,678 15,678 140,003 EDPR Wind Ven- tures XIV LLC USA - 51% N.A. Wind power production 22,238 66,489 0 19,407 19,407 108,134 Crossing Trails Wind Power Pro- ject LLC USA - 100% PwC Wind power production 145,850 -9,099 0 -4,912 -4,912 131,839 Dairy Hills Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Diamond Power Partners LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 East Klickitat Wind Power Pro- ject LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Ford Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Gulf Coast Windpower Man- agement Company LLC USA - 75% N.A. Wind power production 0 0 0 0 0 0 Horizon Wind En- ergy Northwest IV LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Horizon Wind En- ergy Northwest VII LLC USA - 100% N.A. Wind power production 768 -399 0 -484 -484 -115 Horizon Wind En- ergy Northwest X LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Horizon Wind En- ergy Northwest XI LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0
176 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Horizon Wind En- ergy Panhandle I LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Horizon Wind En- ergy Southwest I LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Horizon Wind En- ergy Southwest II LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Horizon Wind En- ergy Southwest III LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Horizon Wind En- ergy Southwest IV LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Horizon Wind En- ergy Valley I LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Horizon Wind MREC Iowa Part- ners LLC USA - 75% N.A. Wind power production 0 0 0 0 0 0 Horizon Wind Freeport Windpower I LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Juniper Wind Power Partners LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Machias Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Blue Canyon Windpower VII LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 New Trail Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 North Slope Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Number Nine Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Pacific South- west Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Horizon Wyoming Transmission LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Buffalo Bluff Wind Farm LLC USA - 100% N.A. Wind power production 5,366 -1 0 -2 -2 5,363 Sardinia Windpower LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Rail Splitter Wind Farm II LLC USA - 100% N.A. Wind power production 2,847 0 0 0 0 2,847 Western Trail Wind Project I LLC USA - 100% N.A. Wind power production 4,420 -4,409 0 0 0 11 Whistling Wind WI Energy Center LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Simpson Ridge Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Coos Curry Wind Power Project LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Horizon Wind En- ergy Midwest IX LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Horizon Wind En- ergy Northwest I LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 AZ Solar LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Peterson Power Partners LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Big River Wind Power Project LLC USA - 100% N.A. Wind power production 1 -1 0 0 0 0 Tug Hill Windpower LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Whiskey Ridge Power Partners LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Wilson Creek Power Project LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0
177 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Black Prairie Wind Farm II LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Black Prairie Wind Farm III LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 2015 Vento XIV LLC USA - 51% PwC Wind power production 182,752 -949 0 -161 -161 181,642 Simpson Ridge Wind Farm II LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Simpson Ridge Wind Farm III LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Simpson Ridge Wind Farm IV LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Simpson Ridge Wind Farm V LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Athena-Weston Wind Power Pro- ject II LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 17th Star Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Green Country Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 2014 Vento XI LLC USA - 51% PwC Wind power production 138,510 -173 0 -847 -847 137,490 EDPR Solar Ven- tures I LLC USA - 50% N.A. Photovoltaic energy pro- duction 20,368 22,253 0 142 142 42,763 2014 Sol I LLC USA - 50% PwC Photovoltaic energy pro- duction 46,538 -815 0 -111 -111 45,612 2014 Vento XII LLC USA - 51% PwC Wind power production 58,752 -176 0 -128 -128 58,448 Rolling Upland Wind Farm LLC USA - 100% N.A. Wind power production 4,151 -1 0 -8 -8 4,142 2015 Vento XIII LLC USA - 51% PwC Wind power production 205,269 -1,240 0 -154 -154 203,875 EDPRNA DG Illi- nois Development LLC USA - 85% N.A. Photovoltaic energy pro- duction 430 -311 0 -137 -137 -18 EDPRNA DG Wis- consin Development LLC USA - 85% N.A. Photovoltaic energy pro- duction 123 -100 0 -23 -23 0 EDPRNA DG New York Develop- ment LLC USA - 85% N.A. Photovoltaic energy pro- duction 598 -250 0 -203 -203 145 EDPRNA DG Mis- sissippi Development LLC USA - 85% N.A. Photovoltaic energy pro- duction 148 -148 0 -5 -5 -5 EDPRNA DG Mis- souri Development LLC USA - 85% N.A. Photovoltaic energy pro- duction 27 -26 0 -2 -2 -1 EDPRNA DG Ohio Development LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,971 -1,016 0 -500 -500 2,455 EDPRNA DG Texas Develop- ment LLC USA - 85% N.A. Photovoltaic energy pro- duction 159 -126 0 -37 -37 -4 EDPRNA DG Georgia Develop- ment LLC USA - 85% N.A. Photovoltaic energy pro- duction 249 -208 0 -41 -41 0 EDPRNA DG Cali- fornia Development LLC USA - 85% N.A. Photovoltaic energy pro- duction 376 -163 0 -211 -211 2 EDPRNA DG Indi- ana Development LLC USA - 85% N.A. Photovoltaic energy pro- duction 116 -41 0 -75 -75 0 EDPRNA DG Pennsylvania De- velopment LLC USA - 85% N.A. Photovoltaic energy pro- duction 190 -114 0 -75 -75 1 EDPRNA DG Michigan Devel- opment LLC USA - 85% N.A. Photovoltaic energy pro- duction 88 -30 0 -60 -60 -2 EDPRNA DG Mar- yland Development LLC USA - 85% N.A. Photovoltaic energy pro- duction 7 -5 0 -3 -3 -1
178 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL EDPRNA DG Vir- ginia Development LLC USA - 85% N.A. Photovoltaic energy pro- duction 57 -55 0 -2 -2 0 EDPRNA DG CA Livermore LLC USA - 85% N.A. Photovoltaic energy pro- duction 6,844 -14 0 -4 -4 6,826 Generate USF McClellan LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,586 -15 0 -7 -7 3,564 EDPRNA DG Ma- nassas LLC USA - 85% N.A. Photovoltaic energy pro- duction 7,607 -1 0 8 8 7,614 Generate USF Las Vegas LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,989 -1 0 -2 -2 1,986 Generate USF N Las Vegas LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,948 -1 0 -2 -2 2,945 EDPR NA DG Holding LLC USA - 100% N.A. Holding 219,606 -73 0 -20 -20 219,513 EDPRNA DG PA Mechanicsburg LLC USA - 85% N.A. Photovoltaic energy pro- duction 20 0 0 0 0 20 Soteria Solar Ser- vices LLC USA - 85% N.A. Photovoltaic energy pro- duction 764 -624 0 -143 -143 -3 EDPRNA DG O&M Services LLC USA - 85% N.A. Photovoltaic energy pro- duction -15 18 0 -3 -3 0 C2 Alpha Hold- ings LLC USA - 85% N.A. Photovoltaic energy pro- duction 75 -75 0 0 0 0 EDPRNA DG MA Managing Mem- ber LLC USA - 85% N.A. Photovoltaic energy pro- duction 19,657 -2 0 -2 -2 19,653 Smart Sunscribe LLC USA - 85% N.A. Photovoltaic energy pro- duction 2 -2 0 0 0 0 2021 DG CA Agora Ventures I LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 C2 WM Phase 3 Sponsor LLC USA - 85% N.A. Photovoltaic energy pro- duction 4 -2 0 0 0 2 C2 WM Phase 3 Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 2 -2 0 0 0 0 EDPRNA DG Les- see Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 2 -2 0 0 0 0 C2 NY Brookhaven LLC USA - 85% N.A. Photovoltaic energy pro- duction 8,182 -689 0 77 77 7,570 EDPRNA DG CI Sponsor 2 LLC USA - 85% N.A. Photovoltaic energy pro- duction 4 -2 0 0 0 2 C2 CI Holdings 2 LLC USA - 85% N.A. Photovoltaic energy pro- duction 2 -2 0 0 0 0 EDPRNA DG WM 2020 Parent LLC USA - 85% N.A. Photovoltaic energy pro- duction 4 -1 0 0 0 3 C2 WM 2020 Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 3 -3 0 0 0 0 NY CSG 2 Spon- sor LLC USA - 85% N.A. Photovoltaic energy pro- duction 25,133 -8 0 -2 -2 25,123 NY CSG 2 Hold- ings LLC USA - 85% PwC Photovoltaic energy pro- duction 25,123 5,329 0 -77 -77 30,375 East River Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 5,222 -181 0 -26 -26 5,015 Cortland-Virgil Road Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 6,237 -737 0 -109 -109 5,391 Lime Hollow So- lar LLC USA - 85% N.A. Photovoltaic energy pro- duction 6,446 -758 0 -252 -252 5,436 McLean Solar 2 LLC USA - 85% N.A. Photovoltaic energy pro- duction 5,709 -503 0 -79 -79 5,127
179 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Route 13 Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 6,528 -883 0 -205 -205 5,440 EDPRNA DG CT Fund 1 MM LLC USA - 85% PwC Photovoltaic energy pro- duction 18,534 -1,757 3,178 -510 -510 19,445 C2 CT Fund 1 Holding LLC USA - 85% PwC Photovoltaic energy pro- duction 30,684 14,074 0 -59 -59 44,699 C2 WM Arizona 1 LLC USA - 85% N.A. Photovoltaic energy pro- duction 897 -25 0 -20 -20 852 C2 WM Arizona 2 LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,442 -55 0 -19 -19 1,368 C2 WM Arizona 3 LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,185 -98 0 -102 -102 1,985 C2 WM Arizona 4 LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,717 -97 0 -33 -33 1,587 C2 WM Arizona 5 LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,431 -74 0 -25 -25 1,332 C2 WM Arizona 6 LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,817 -97 0 -35 -35 1,685 C2 WM Arizona 7 LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,553 -556 0 -39 -39 1,958 C2 WM Arizona 8 LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,983 -87 0 -32 -32 1,864 C2 WM Arizona 9 LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,871 -80 0 -31 -31 1,760 C2 WM Arizona 10 LLC USA - 85% N.A. Photovoltaic energy pro- duction 695 -27 0 -17 -17 651 C2 WM Laurens Leasing LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,234 -147 0 -21 -21 2,066 C2 WM New Jer- sey 1 LLC USA - 85% N.A. Photovoltaic energy pro- duction 4,560 394 0 -221 -221 4,733 C2 RI Hopkinton LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,835 -135 0 -81 -81 2,619 Blissville Road LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,953 -49 0 0 0 1,904 Route 149 LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,276 -83 0 -38 -38 2,155 Shields Drive LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,215 -95 0 -52 -52 2,068 Upper Road LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,059 4 0 -12 -12 2,051 C2 Woodbury So- lar LLC USA - 85% N.A. Photovoltaic energy pro- duction 9,176 -23 0 -7 -7 9,146 MN CSG 2 LLC USA - 85% N.A. Photovoltaic energy pro- duction 9,147 -528 0 -210 -210 8,409 EDPRNA DG WM DSA Sponsor LLC USA - 85% PwC Photovoltaic energy pro- duction -3,026 -980 1,272 -373 -373 -3,107 C2 Centrica MT LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,282 12,198 0 7 7 15,487 C2 WM DSA Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction -2,737 23 0 38 38 -2,676 C2 WM Arizona 1549 LLC USA - 85% N.A. Photovoltaic energy pro- duction 899 163 0 56 56 1,118 C2 WM Arizona 2112 LLC USA - 85% N.A. Photovoltaic energy pro- duction 669 88 0 27 27 784 C2 WM Arizona 3360 LLC USA - 85% N.A. Photovoltaic energy pro- duction 696 75 0 31 31 802
180 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL C2 WM Arizona 3465 LLC USA - 85% N.A. Photovoltaic energy pro- duction 615 170 0 52 52 837 C2 WM Arizona 3799 LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,051 114 0 18 18 1,183 C2 WM Arizona 3833 LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,032 112 0 39 39 1,184 C2 WM Arizona 3861 LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,025 100 0 38 38 1,163 C2 WM Arizona 4451 LLC USA - 85% N.A. Photovoltaic energy pro- duction 801 127 0 48 48 976 C2 WM California 1789 LLC USA - 85% N.A. Photovoltaic energy pro- duction 521 111 0 15 15 647 C2 WM California 1988 LLC USA - 85% N.A. Photovoltaic energy pro- duction 401 63 0 -18 -18 446 C2 WM California 4202 LLC USA - 85% N.A. Photovoltaic energy pro- duction 308 6 0 -18 -18 296 C2 WM California 4317 LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,102 -13 0 -5 -5 1,084 C2 WM California 5890 LLC USA - 85% N.A. Photovoltaic energy pro- duction 601 12 0 -26 -26 587 C2 WM Illinois 253 LLC USA - 85% N.A. Photovoltaic energy pro- duction 602 420 0 103 103 1,125 C2 WM Illinois 612 LLC USA - 85% N.A. Photovoltaic energy pro- duction 427 157 0 67 67 651 C2 WM Illinois 891 LLC USA - 85% N.A. Photovoltaic energy pro- duction 417 428 0 101 101 946 C2 WM Illinois 1404 LLC USA - 85% N.A. Photovoltaic energy pro- duction 539 356 0 84 84 979 C2 WM Illinois 1489 LLC USA - 85% N.A. Photovoltaic energy pro- duction 470 225 0 44 44 739 C2 WM Illinois 1548 LLC USA - 85% N.A. Photovoltaic energy pro- duction 465 72 0 46 46 583 C2 WM Illinois 1553 LLC USA - 85% N.A. Photovoltaic energy pro- duction 389 300 0 68 68 757 C2 WM Illinois 1761 LLC USA - 85% N.A. Photovoltaic energy pro- duction 542 195 0 47 47 784 C2 WM Illinois 1848 LLC USA - 85% N.A. Photovoltaic energy pro- duction 282 364 0 76 76 722 C2 WM Illinois 1933 LLC USA - 85% N.A. Photovoltaic energy pro- duction 388 327 0 69 69 784 C2 WM Illinois 2215 LLC USA - 85% N.A. Photovoltaic energy pro- duction 422 354 0 80 80 856 C2 WM Illinois 2491 LLC USA - 85% N.A. Photovoltaic energy pro- duction 564 450 0 122 122 1,136 C2 WM Illinois 5442 LLC USA - 85% N.A. Photovoltaic energy pro- duction 380 204 0 41 41 625 C2 WM Louisiana 87 LLC USA - 85% N.A. Photovoltaic energy pro- duction 465 28 0 -1 -1 492 C2 WM Louisiana 309 LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 C2 WM Louisiana 539 LLC USA - 85% N.A. Photovoltaic energy pro- duction 869 -9 0 -12 -12 848 EDPRNA DG En- ergy Holdings Inc. USA - 85% N.A. Photovoltaic energy pro- duction 80 -69 0 -13 -13 -2 EDPRNA DG En- ergy USA - 85% N.A. Photovoltaic energy pro- duction 252,224 -2,903 0 -358 -358 248,963
181 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Development LLC C2 MN Hopkins LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,052 -179 0 -28 -28 2,845 C2 NC Kitty Hawk LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 C2 NJ Andover I LLC USA - 85% N.A. Photovoltaic energy pro- duction -322 1,205 0 -61 -61 822 C2 NY Sentinel Heights Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 7,421 -126 0 81 81 7,376 C2 OH New Leb- anon LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 C2 OH Otsego II LLC USA - 85% N.A. Photovoltaic energy pro- duction -30 1,263 0 -171 -171 1,062 C2 SH 2019 LLC USA - 85% N.A. Photovoltaic energy pro- duction 2 -2 0 0 0 0 EDPR NA DG MN YMCA LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,100 -35 0 -26 -26 2,039 CA Marinwood Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,096 -8 0 -3 -3 1,085 CA Olde Thomp- son Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction -394 -19 0 7 7 -406 MidCoast C2 So- lar LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 NY Hemlock Hills Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,334 -85 0 206 206 3,455 NY Mines Press Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,373 -213 0 -99 -99 3,061 NY Morgan Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 25,350 16 0 -2 -2 25,364 NY OG 1 Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 2 -2 0 0 0 0 Omega CSG 1 LLC USA - 85% N.A. Photovoltaic energy pro- duction -2,089 2,101 0 0 0 12 Penn Yan Solar I LLC USA - 85% N.A. Photovoltaic energy pro- duction 7,135 161 0 53 53 7,349 RI Abrava Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 6,625 -98 0 64 64 6,591 Strawberry Solar Farm LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,600 48 0 38 38 3,686 VT Stone Valley LLC USA - 85% N.A. Photovoltaic energy pro- duction 2 -2 0 0 0 0 C2 WM Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 84 -4 0 -3 -3 77 C2 WM Arizona Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 3 -3 0 0 0 0 C2 WM California Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 6 -6 0 1 1 1 C2 WM Illinois Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 40 -38 0 -2 -2 0 C2 WM Louisiana Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 C2 WM Maryland Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 3 -3 0 0 0 0 C2 WM New Jer- sey Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 26 -20 0 -6 -6 0
182 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL C2 WM Regent Dev Holdings 2020 LLC USA - 85% N.A. Photovoltaic energy pro- duction 2 -2 0 0 0 0 C2 WM Arizona 1512 LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,790 -5 0 -19 -19 2,766 C2 WM Arizona 5768 LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 C2 WM Maryland 1715 LLC USA - 85% N.A. Photovoltaic energy pro- duction 726 7 0 29 29 762 C2 WM Maryland 2436 LLC USA - 85% N.A. Photovoltaic energy pro- duction 979 7 0 26 26 1,012 C2 WM New Jer- sey 1807 LLC USA - 85% N.A. Photovoltaic energy pro- duction 496 -4 0 -4 -4 488 C2 WM New Jer- sey 1844 LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 C2 WM New Jer- sey 1869 LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 C2 WM New Jer- sey 1977 LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 C2 WM New Jer- sey 2195 LLC USA - 85% N.A. Photovoltaic energy pro- duction 753 183 0 -11 -11 925 C2 WM New Jer- sey 3795 LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,054 128 0 -25 -25 1,157 EDPRNA DG Rho LLC USA - 85% PwC Photovoltaic energy pro- duction 39,686 10,436 0 2,928 2,928 53,050 EDPRNA DG-REA Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 9,503 -6 0 -4 -4 9,493 EDPRNA DG CA 2016 Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,530 -33 0 -9 -9 1,488 REA-EDPRNA DG 2016 Lessee LLC USA - 85% N.A. Photovoltaic energy pro- duction 7,787 -1,100 0 -401 -401 6,286 Camden PV Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 6,299 -517 0 91 91 5,873 C2 MA Managing Member II LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,922 -1 0 -13 -13 2,908 C2 MA FKW Hold- ings LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,803 -443 0 -341 -341 2,019 RevEnergy C2 Franklin LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,480 116 0 9 9 1,605 C2 MA Kelly Way Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 969 -8 0 68 68 1,029 EDPRNA DG MA Lakeville Sponsor LLC USA - 85% N.A. Photovoltaic energy pro- duction 8,034 -6 0 -2 -2 8,026 C2 MA Lakeville Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 8,026 52 0 -403 -403 7,675 C2 MA Lakeville LLC USA - 85% N.A. Photovoltaic energy pro- duction 7,382 -101 0 35 35 7,316 EDPRNA DG MA Depcom Sponsor LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,370 -2 0 -2 -2 3,366 C2 MA DEPCOM 2017 LLC USA - 85% PwC Photovoltaic energy pro- duction 3,366 660 0 -1,013 -1,013 3,013 C2 MA Adams II LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,097 112 0 169 169 1,378 C2 MA New Sa- lem LLC USA - 85% N.A. Photovoltaic energy pro- duction 824 179 0 92 92 1,095 C2 MA Dudley II LLC USA - 85% N.A. Photovoltaic energy pro- duction 555 -163 0 -2 -2 390
183 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Norton Solar I LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,044 439 0 143 143 1,626 Norton Solar II LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,159 312 0 128 128 1,599 EDPRNA DG Star- ratt Sponsor LLC USA - 85% N.A. Photovoltaic energy pro- duction 19,529 -3 0 -2 -2 19,524 C2 CB 2017 Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 19,524 -275 0 -293 -293 18,956 EDPRNA DG Scripps 1 LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,501 -297 0 -118 -118 1,086 C2 Scripps 3 LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,003 -167 0 -100 -100 736 C2 Scripps 4 LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,414 -164 0 -120 -120 1,130 C2 Starratt Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 12,606 -898 0 -411 -411 11,297 C2 WM Green- wood Leasing LLC USA - 85% N.A. Photovoltaic energy pro- duction 876 13 0 -44 -44 845 C2 WM Powders- ville Leasing LLC USA - 85% N.A. Photovoltaic energy pro- duction 842 -58 0 -53 -53 731 C2 WM Simpson- ville Leasing LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,150 -13 0 -74 -74 1,063 EDPRNA DG MA Owner LLC USA - 85% N.A. Photovoltaic energy pro- duction 19,653 -3 0 -4 -4 19,646 EDPRNA DG MA Adams I Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 11,027 -1,665 0 -544 -544 8,818 EDPRNA DG MA Adams I LLC USA - 85% N.A. Photovoltaic energy pro- duction 8,811 -48 0 -66 -66 8,697 EDPRNA DG MA Swansea Hold- ings LLC USA - 85% N.A. Photovoltaic energy pro- duction 6,311 -1,655 0 -536 -536 4,120 EDPRNA DG MA Swansea LLC USA - 85% N.A. Photovoltaic energy pro- duction 4,753 1,157 0 241 241 6,151 EDPRNA DG MA 2016 Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,884 -207 0 -60 -60 1,617 RS Holyoke 3 LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,619 -85 0 -37 -37 1,497 EDPRNA DG Franklin LLC USA - 85% N.A. Photovoltaic energy pro- duction 4,058 -8 0 -2 -2 4,048 EDPRNA DG Gamma Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 4,048 -145 0 117 117 4,020 EDPRNA DG Morin LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,557 -324 0 -587 -587 1,646 SLX Project 1080 LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,414 60 0 -105 -105 1,369 EDPRNA DG WM Leasing LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,272 -3 0 -2 -2 3,267 EDPRNA DG WM Phase 1 Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,215 -178 0 -23 -23 3,014 EDPRNA DG WM Chester Leasing LLC USA - 85% N.A. Photovoltaic energy pro- duction 521 -37 0 -28 -28 456 EDPRNA DG WM Indian Land Leasing LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,003 -62 0 -59 -59 882 EDPRNA DG WM Lake Wylie Leas- ing LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,051 -63 0 -58 -58 930 EDPRNA DG WM Pickens Leasing LLC USA - 85% N.A. Photovoltaic energy pro- duction 428 -3 0 -31 -31 394
184 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL C2 Bristol I LLC USA - 85% N.A. Photovoltaic energy pro- duction 10,100 -110 0 -46 -46 9,944 EDPRNA DG YMCA II LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 -1 -1 -1 EDPRNA DG Zephyr Ventures LLC USA - 85% N.A. Photovoltaic energy pro- duction 809 -1 0 239 239 1,047 RI Sposato Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 256 35 0 -25 -25 266 C2 Bristol II LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,091 -55 0 -3 -3 2,033 C2 Omega Hold- ing Company LLC USA - 85% N.A. Photovoltaic energy pro- duction 19 -19 0 0 0 0 Camden PV PSEG Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 113 -113 0 0 0 0 EDPR NA DG MN SLP LLC USA - 85% N.A. Photovoltaic energy pro- duction 4 -2 0 -2 -2 0 ME Dover Fox- croft Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,489 -23 0 -2 -2 1,464 ME Ellsworth So- lar LLC USA - 85% N.A. Photovoltaic energy pro- duction 913 -4 0 -2 -2 907 ME Rocky Hill So- lar LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,335 -3 0 -2 -2 1,330 ME Sandy Hill So- lar LLC USA - 85% N.A. Photovoltaic energy pro- duction 296 -3 0 -2 -2 291 NH Hinsdale So- lar LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 CA Gettysburg Solar Farm LLC USA - 85% N.A. Photovoltaic energy pro- duction 10,204 -64 0 -26 -26 10,114 CA Syracuse So- lar LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 CA Tours Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDPRNA DG Wren Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 7,788 -1 0 -3 -3 7,784 EDPRNA DG Wren Ventures LLC USA - 85% N.A. Photovoltaic energy pro- duction 7,787 -1 0 393 393 8,179 NC Loy Farm So- lar LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDPRNA DG Ori- ole Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 RSBF Jeffco II LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,827 -72 0 -123 -123 1,632 2021 DG Agora Ventures I LLC USA - 85% N.A. Photovoltaic energy pro- duction 13,800 1,358 0 461 461 15,619 2021 DG Agora Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 13,810 -5 0 -4 -4 13,801 DC Michigan So- lar LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDPR NA Distrib- uted Generation LLC USA - 85% PwC Photovoltaic energy pro- duction 208,466 19,973 0 -15,600 -15,600 212,839 ME New Vineyard Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Creed Road Solar 1 LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 German Commu- nity Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 8,818 -78 0 37 37 8,777
185 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Gilpatrick Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 908 -1 0 -914 -914 -7 North Coast Highway Solar 1 LLC USA - 85% N.A. Photovoltaic energy pro- duction 625 -37 0 -38 -38 550 North Coast Highway Solar 2 LLC USA - 85% N.A. Photovoltaic energy pro- duction 460 -37 0 -36 -36 387 Piscataquis Val- ley Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,464 -10 0 -2 -2 1,452 Potsdam Com- munity Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 5,533 195 0 93 93 5,821 EDPRNA DG Zephyr Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 857 -12 0 -2 -2 843 RI- Moo Cow USA - 85% N.A. Photovoltaic energy pro- duction 4,820 -1 0 -4 -4 4,815 EDPRNA DG WM Illinois 1998 LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 SC Southern Wesleyan Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 SC Beaufort Jas- per Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDPRNA DG WM Illinois 3459 LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 RPIL Solar 6 LLC USA - 85% N.A. Photovoltaic energy pro- duction 7,090 0 0 0 0 7,090 RPIL Solar 7 LLC USA - 85% N.A. Photovoltaic energy pro- duction 4,610 0 0 0 0 4,610 MT Plentywood Solar I LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDPRNA DG Ori- ole Ventures LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 ND Crystal Solar I LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Morgan Road So- lar West LLC USA - 85% N.A. Photovoltaic energy pro- duction 12,195 -9 0 -51 -51 12,135 Morgan Road So- lar East LLC USA - 85% N.A. Photovoltaic energy pro- duction 13,169 -9 0 -96 -96 13,064 Mohave Power LLC USA - 85% N.A. Photovoltaic energy pro- duction 16,366 -2,375 0 4,892 4,892 18,883 RI Quarry Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 526 -4 0 -2 -2 520 EDPRNA Bar Har- bor Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 11 -5 0 -6 -6 0 EDPRNA DG PA Montoursville LLC USA - 85% N.A. Photovoltaic energy pro- duction 11 0 0 -13 -13 -2 Bar Harbor Com- munity Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 8,632 -8 0 -9 -9 8,615 Mohave Power Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 26,953 -1 0 -4 -4 26,948 EDPRNA DG PR Radar LLC USA - 85% N.A. Photovoltaic energy pro- duction 444 -131 0 -8 -8 305 EDPRNA DG Dis- tributed Sun Holding LLC USA - 85% N.A. Photovoltaic energy pro- duction 23,641 -27 0 -74 -74 23,540 EDPRNA DG York County Sun LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Generate USF Loveland LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,077 -1 0 -2 -2 2,074
186 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Generate USF Fairburn LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,768 -1 0 -2 -2 3,765 Generate USF Phoenix LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,384 -1 0 -2 -2 3,381 EDPRNA DG Di- ckinson Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 7,700 -2 0 -24 -24 7,674 EDPRNA DG Westmoreland Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 15,379 -5 0 -5 -5 15,369 NDIW California RE LLC USA - 100% N.A. Power produc- tion 0 0 0 0 0 0 Tillman Alma- cenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Black Prairie Al- macenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Black Prairie Al- macenamiento II LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Pueblo Norte So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDPR Solar Ven- tures VI LLC USA - 100% N.A. Photovoltaic energy pro- duction 1,686 16 0 0 0 1,702 2022 SOL VI LLC USA - 100% PwC Power produc- tion 249,492 0 0 0 0 249,492 EDPR Solar Ven- tures VII LLC USA - 100% PwC Photovoltaic energy pro- duction 36,369 1,241 -2,423 -15,625 -15,625 19,562 EDPR RS LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Pearl River Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 101,467 1,550 -14,022 -774 -774 88,221 Sugar Plum Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDPR NA Green- field Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Sailor Springs So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 1 -419 0 419 419 1 10 Point Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 4 -1 0 0 0 3 Black Prairie So- lar Park II LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Rock Dane Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Sawmill Junc- tion Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 4,938 0 0 0 0 4,938 Cattlemen Solar Park II LLC USA - 100% N.A. Photovoltaic energy pro- duction 184,376 -32 -22,358 -2,732 -2,732 159,254 Crooked Lake So- lar LLC USA - 100% PwC Photovoltaic energy pro- duction 271,796 1,104 -8,127 180 180 264,953 Clover Creek So- lar Project LLC USA - 100% N.A. Photovoltaic energy pro- duction 33,446 -47 -1,040 -171 -171 32,188 Wolf Run Solar LLC USA - 100% N.A. Photovoltaic energy pro- duction 247,593 3,240 17,880 -1,638 -1,638 267,075 EDPR Scarlet II LLC USA - 100% N.A. Power produc- tion 86,243 -17,417 59,144 21,960 21,960 149,930 Clover Creek So- lar Project II LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Hickory Solar LLC USA - 100% N.A. Photovoltaic energy pro- duction 101,402 -788 9,038 662 662 110,314 EDPR Scarlet I LLC USA - 100% PwC Power produc- tion 1,294 -53 0 -564 -564 677 EDPR Scarlet III LLC USA - 100% N.A. Power produc- tion 0 0 0 0 0 0
187 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Crooked Lake So- lar II LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Cypress Knee So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 7 -4 0 -6 -6 -3 Eagle Creek Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 11,704 -2 0 20 20 11,722 Rose Run Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 809 0 0 0 0 809 Salt Lick Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 1 -1 0 0 0 0 Lotus Blocker LLC USA - 100% N.A. Power produc- tion 0 0 0 0 0 0 EDPR Aurora Holdings LLC USA - 100% N.A. Power produc- tion 3 -3 0 0 0 0 Lotus DevCo II LLC USA - 100% N.A. Power produc- tion 3 -3 0 0 0 0 Big River Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Shy Place Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Ragsdale Solar LLC USA - 100% N.A. Photovoltaic energy pro- duction 159,774 1,047 -7,131 -2,216 -2,216 151,474 EDPR Wind Ven- tures XXIII LLC USA - 100% N.A. Wind power production 110,047 18,437 0 11,801 11,801 140,285 2021 Vento XXIII LLC USA - 100% PwC Wind power production 249,607 -154 0 -862 -862 248,591 EDPR Vento II Holding LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 EDPR Vento III Holding LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 Carpenter Wind Farm LLC USA - 100% N.A. Wind power production 0 0 0 -285 -285 -285 Eighty South So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Hobolochitto So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 -10 -10 -10 Poplarville Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Stone North So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Turkey Creek So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 -20 -20 -20 EDPR Wind Ven- tures XXIV LLC USA - 100% N.A. Wind power production 149,743 0 0 5,309 5,309 155,052 2023 Vento XXIV LLC USA - 100% PwC Wind power production 309,531 0 0 36 36 309,567 Duff Almacena- miento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Northern Waters Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Three Lakes Solar LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 -2 -2 -2 Liberty Valley So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 North Slope Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Northern Waters Solar Park II LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDPR Northeast Allen Energy Al- macenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 EDPR Northeast Allen Energy USA - 100% N.A. Storage 0 0 0 0 0 0
188 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Almacenamiento II LLC Longroad DG Portfolio I LLC USA - 85% N.A. Photovoltaic energy pro- duction 380 38 0 -4 -4 414 MMA Renewable Ventures Solar Fund III LLC USA - 85% N.A. Photovoltaic energy pro- duction 5,455 -16 0 -79 -79 5,360 Renewable Ven- tures Solar Fund V GP LLC USA - 85% N.A. Photovoltaic energy pro- duction 16,713 -1 0 -3 -3 16,709 Longroad Fund III Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 14,272 21 0 -11 -11 14,282 EDPRNA DG XII Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 23,351 -1 0 -2 -2 23,348 EDPRNA DG So- lar WF Portfolio LLC USA - 85% N.A. Photovoltaic energy pro- duction -9,251 -1 0 -4 -4 -9,256 EDPRNA DG So- lar Portfolio IV LLC USA - 85% N.A. Photovoltaic energy pro- duction -1,042 -20 0 -3 -3 -1,065 SunE Solar VI LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,391 -12 0 -5 -5 2,374 SunE Solar V LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,812 -423 0 40 40 3,429 RPIL Solar 11 LLC USA - 85% N.A. Photovoltaic energy pro- duction 6,066 0 0 0 0 6,066 Renewable Ven- tures Solar Fund V LLC USA - 85% N.A. Photovoltaic energy pro- duction 16,510 -13 0 -3 -3 16,494 SunE Solar XIV LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,150 -25 0 110 110 3,235 MMA Solar Fund III GP Sub USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Renewable Ven- tures V Equity Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 16,494 -140 0 -1 -1 16,353 Renewable Ven- tures V GP Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Longroad Solar Fund III LLC USA - 85% N.A. Photovoltaic energy pro- duction 12,937 49 0 30 30 13,016 SunE Solar XII LLC USA - 85% N.A. Photovoltaic energy pro- duction 23,030 -17 0 -50 -50 22,963 SunE Solar III LLC USA - 85% N.A. Photovoltaic energy pro- duction -9,535 -21 0 -5 -5 -9,561 SunE Solar IV LLC USA - 85% N.A. Photovoltaic energy pro- duction -1,087 30 0 -4 -4 -1,061 Longroad SD LLC USA - 85% N.A. Photovoltaic energy pro- duction -39 184 0 95 95 240 Longroad ASD1 LLC USA - 85% N.A. Photovoltaic energy pro- duction 42 6 0 5 5 53 Longroad CPA CDC1 LLC USA - 85% N.A. Photovoltaic energy pro- duction 674 154 0 115 115 943 Longroad CPA CSU3 LLC USA - 85% N.A. Photovoltaic energy pro- duction 48 45 0 -3 -3 90 Longroad CPA CSU4 LLC USA - 85% N.A. Photovoltaic energy pro- duction 451 28 0 27 27 506 Longroad SIT1 Hoboken LLC USA - 85% N.A. Photovoltaic energy pro- duction 76 18 0 -7 -7 87 Longroad ST6 Stockton LLC USA - 85% N.A. Photovoltaic energy pro- duction 449 -13 0 -41 -41 395 Longroad WF7 Cheshire LLC USA - 85% N.A. Photovoltaic energy pro- duction 115 -2 0 -15 -15 98
189 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Longroad WGNJ1 LLC USA - 85% N.A. Photovoltaic energy pro- duction 170 20 0 -9 -9 181 Longroad WGNJ2 LLC USA - 85% N.A. Photovoltaic energy pro- duction 25 6 0 -1 -1 30 MMA Rita Power LLC USA - 85% N.A. Photovoltaic energy pro- duction -140 261 0 266 266 387 MMA DAS Power LP USA - 85% N.A. Photovoltaic energy pro- duction 39 546 0 450 450 1,035 MMA LHIW Power LP USA - 85% N.A. Photovoltaic energy pro- duction 153 -9 0 -30 -30 114 MMA CCC Power LP USA - 85% N.A. Photovoltaic energy pro- duction 86 24 0 -27 -27 83 MMA Belmar Power LP USA - 85% N.A. Photovoltaic energy pro- duction -30 340 0 271 271 581 MMA WBF Power LP USA - 85% N.A. Photovoltaic energy pro- duction 1,230 -82 0 -152 -152 996 MMA SROSA Power LP USA - 85% N.A. Photovoltaic energy pro- duction -31 396 0 -166 -166 199 MMA Mission Bay Power LP USA - 85% N.A. Photovoltaic energy pro- duction -36 66 0 37 37 67 MMA MDS Power I LP USA - 85% N.A. Photovoltaic energy pro- duction 692 -81 0 -580 -580 31 MMA MDS Power II LP USA - 85% N.A. Photovoltaic energy pro- duction 1,684 -321 0 -413 -413 950 MMA MDS Power IV LP USA - 85% N.A. Photovoltaic energy pro- duction 202 51 0 -32 -32 221 MMA GDC Power LP USA - 85% N.A. Photovoltaic energy pro- duction 254 229 0 136 136 619 MMA BWS Power LP USA - 85% N.A. Photovoltaic energy pro- duction -39 154 0 47 47 162 MMA Happy Val- ley Power LP USA - 85% N.A. Photovoltaic energy pro- duction -10 96 0 54 54 140 MMA RMS Power LP USA - 85% N.A. Photovoltaic energy pro- duction 865 -252 0 -883 -883 -270 MMA Fresno Power LP USA - 85% N.A. Photovoltaic energy pro- duction 128 75 0 80 80 283 RV CSU Power LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,818 780 0 293 293 4,891 FRV CSU Power II LLC USA - 85% N.A. Photovoltaic energy pro- duction 8,342 465 0 50 50 8,857 FRV SI Transport Solar L.P. USA - 85% N.A. Photovoltaic energy pro- duction 4,192 91 0 88 88 4,371 SunE WF3-WG Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,938 503 0 192 192 2,633 SunE WF3 KHL A Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,676 647 0 563 563 3,886 SunE WF3 KHL B Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,059 956 0 619 619 3,634 SunE WF3-ST Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,755 621 0 391 391 2,767 SunE WF3- Broomfield Hold- ings LLC USA - 85% N.A. Photovoltaic energy pro- duction 113 58 0 21 21 192 SunE WF3-BART Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 143 42 0 18 18 203 SunE Bristow MS LLC USA - 85% N.A. Photovoltaic energy pro- duction 25 9 0 3 3 37
190 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL SunE CPA CDC2 LLC USA - 85% N.A. Photovoltaic energy pro- duction 759 130 0 -10 -10 879 SunE SR1 NREL LLC USA - 85% N.A. Photovoltaic energy pro- duction 165 201 0 188 188 554 SunE SR1 Ar- vada5 LLC USA - 85% N.A. Photovoltaic energy pro- duction 345 53 0 56 56 454 SunE Lakeland Center LLC USA - 85% N.A. Photovoltaic energy pro- duction 113 32 0 39 39 184 SunE NC Pro- gress1 LLC USA - 85% N.A. Photovoltaic energy pro- duction 519 251 0 207 207 977 SunE Fairfield SSD LLC USA - 85% N.A. Photovoltaic energy pro- duction 723 96 0 21 21 840 SunE PD Syca- more LLC USA - 85% N.A. Photovoltaic energy pro- duction 27 23 0 105 105 155 SunE PD Willow LLC USA - 85% N.A. Photovoltaic energy pro- duction 56 27 0 11 11 94 SunE PD Oak LLC USA - 85% N.A. Photovoltaic energy pro- duction 105 80 0 202 202 387 SunE Multnomah JBY LLC USA - 85% N.A. Photovoltaic energy pro- duction 143 8 0 10 10 161 SunE Multnomah JJC LLC USA - 85% N.A. Photovoltaic energy pro- duction 182 10 0 16 16 208 SunE MCPS Clarksburg LLC USA - 85% N.A. Photovoltaic energy pro- duction 113 35 0 31 31 179 SunE MCPS Gar- dens LLC USA - 85% N.A. Photovoltaic energy pro- duction 43 6 0 1 1 50 SunE MCPS Montgomery LLC USA - 85% N.A. Photovoltaic energy pro- duction 46 16 0 10 10 72 SunE MCPS Lakelands LLC USA - 85% N.A. Photovoltaic energy pro- duction 46 14 0 10 10 70 SunE MCPS Park- land LLC USA - 85% N.A. Photovoltaic energy pro- duction 51 23 0 24 24 98 SunE MCPS Quince Orchard LLC USA - 85% N.A. Photovoltaic energy pro- duction 93 40 0 24 24 157 SunE MCPS FSK LLC USA - 85% N.A. Photovoltaic energy pro- duction 54 14 0 -7 -7 61 SunE MCPS Shriver LLC USA - 85% N.A. Photovoltaic energy pro- duction 41 10 0 10 10 61 SunE NLB-2 LLC USA - 85% N.A. Photovoltaic energy pro- duction 467 123 0 175 175 765 SunE PNMC Roof LLC USA - 85% N.A. Photovoltaic energy pro- duction 3 6 0 5 5 14 SunE W12DG-A LLC USA - 85% N.A. Photovoltaic energy pro- duction 7,306 30 0 -421 -421 6,915 SunE W12DG-B LLC USA - 85% N.A. Photovoltaic energy pro- duction 4,725 512 0 625 625 5,862 SunE W12DG-C LLC USA - 85% N.A. Photovoltaic energy pro- duction 7,838 769 0 -261 -261 8,346 SunE WMT PR2 LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,414 -6 0 -136 -136 1,272 SunE H3 Hold- ings LLC USA - 85% N.A. Photovoltaic energy pro- duction 869 1,968 0 -16 -16 2,821 SunE CPA CSU5 LLC USA - 85% N.A. Photovoltaic energy pro- duction 413 68 0 -44 -44 437 SunE CPA CTS1 LLC USA - 85% N.A. Photovoltaic energy pro- duction 67 68 0 57 57 192
191 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL SunE SR1 Rifle PS LLC USA - 85% N.A. Photovoltaic energy pro- duction -166 340 0 168 168 342 SunE H4 Hold- ings LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,006 -159 0 32 32 1,879 SunE U6 Hold- ings LLC USA - 85% PwC Photovoltaic energy pro- duction 2,239 166 0 345 345 2,750 SunE M5 Hold- ings LLC USA - 85% N.A. Photovoltaic energy pro- duction -3,991 -196 0 -695 -695 -4,882 SunE M5B Hold- ings LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,334 -7 0 -137 -137 3,190 SunE M5C Hold- ings LLC USA - 85% N.A. Photovoltaic energy pro- duction -1,867 16 0 533 533 -1,318 SunE D14 ATC-A Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 594 183 0 216 216 993 SunE D14 DGS-A Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 4,861 414 0 333 333 5,608 SunE D14 KHL-A Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,876 247 0 280 280 2,403 SunE D14 MISC- A Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 7,977 29 0 649 649 8,655 SunE D14 MISC- B Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 2,137 70 0 211 211 2,418 SunE D14 SPLS-A Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,898 236 0 166 166 2,300 SunE D14 WMT-A Holdings LLC USA - 85% N.A. Photovoltaic energy pro- duction 410 132 0 23 23 565 SunE W12DG-D LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,792 287 0 73 73 2,152 Bear Peak Becca- ria LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Bear Peak Brady LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Bear Peak East Carroll LLC USA - 85% N.A. Photovoltaic energy pro- duction 498 -1 0 -2 -2 495 Bear Peak Glen Hope LLC USA - 85% N.A. Photovoltaic energy pro- duction 440 -4 0 -2 -2 434 Bear Peak Jenner- stown LLC USA - 85% N.A. Photovoltaic energy pro- duction 269 -1 0 -2 -2 266 Bear Peak Juniata LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Bear Peak Paint II LLC USA - 85% N.A. Photovoltaic energy pro- duction 320 -1 0 -2 -2 317 Bear Peak Rich- mond LLC USA - 85% N.A. Photovoltaic energy pro- duction 283 -1 0 -2 -2 280 HB Steel Com- munity Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,396 -12 0 260 260 3,644 EDPRNA DG Ridgefield BOE LLC USA - 85% N.A. Photovoltaic energy pro- duction 705 -11 0 -18 -18 676 EDPRNA DG PR Aguadilla LLC USA - 85% N.A. Photovoltaic energy pro- duction 275 -3 0 -5 -5 267 EDPRNA DG PA Morgantown LLC USA - 85% N.A. Photovoltaic energy pro- duction 17 0 0 0 0 17 Longroad Solar Portfolio III LLC USA - 85% N.A. Photovoltaic energy pro- duction 3,167 0 0 -2 -2 3,165 EDPRNA DG Ken- tucky USA - 85% N.A. Photovoltaic energy pro- duction 627 -155 0 -476 -476 -4
192 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Development LLC EDPRNA DG Bris- tol Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 151 0 0 -92 -92 59 EDPRNA DG Li- vermore Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 553 0 0 -3 -3 550 CF OH Solar St RT 118, Ansonia LLC USA - 85% N.A. Photovoltaic energy pro- duction 21 0 0 -21 -21 0 CF OH Solar St RT 118, Rossburg LLC USA - 85% N.A. Photovoltaic energy pro- duction 771 0 0 -2 -2 769 CF OH Solar SR 309, Kenton LLC USA - 85% N.A. Photovoltaic energy pro- duction 803 0 0 -2 -2 801 CF OH Solar County Hwy 58, Upper Sandusky LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,562 0 0 -2 -2 1,560 CF OH Solar Lin- coln Hwy, Bucyrus1 LLC USA - 85% N.A. Photovoltaic energy pro- duction 918 0 0 -2 -2 916 CF OH Solar Rd N, Pandora LLC USA - 85% N.A. Photovoltaic energy pro- duction 358 0 0 -2 -2 356 EDPRNA DG LS RANCHO CUCA- MONGA LLC USA - 85% N.A. Photovoltaic energy pro- duction 98 0 0 -4 -4 94 EDPRNA DG RT ADDISON LLC USA - 85% N.A. Photovoltaic energy pro- duction 328 0 0 -2 -2 326 EDPRNA DG RT BEDFORD PARK, LLC USA - 85% N.A. Photovoltaic energy pro- duction 372 0 0 -102 -102 270 EDPRNA DG RT CHICAGO, LLC USA - 85% N.A. Photovoltaic energy pro- duction 417 0 0 -2 -2 415 OH FP COM- MERCE CENTER LLC USA - 85% N.A. Photovoltaic energy pro- duction 2 0 0 -2 -2 0 CF OH Solar SR 81 Ada LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,134 0 0 -2 -2 1,132 EDPRNA DG Mbusa LLC USA - 85% N.A. Photovoltaic energy pro- duction 121 0 0 -61 -61 60 EDPRNA DG CA CLNS Fairfield LLC USA - 85% N.A. Photovoltaic energy pro- duction 60 -24 0 -36 -36 0 EDPRNA DG Manning Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 999 0 0 -2 -2 997 EDPRNA DG Ea- ton Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 815 0 0 -2 -2 813 EDPRNA DG Washington Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,110 -30 0 -1 -1 1,079 EDPRNA DG Mor- ton Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 1,910 -47 0 -1 -1 1,862 EDPRNA DG CA CPH LLC USA - 85% N.A. Photovoltaic energy pro- duction 513 -40 0 27 27 500 EDPRNA DG OH Massie Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 437 -49 0 -1 -1 387 EDPRNA DG OH Continental Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 231 -66 0 -1 -1 164 EDPRNA DG IL Groveland Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 200 -46 0 -1 -1 153 CF OH Solar N Dixie Hwy Lima LLC USA - 85% N.A. Photovoltaic energy pro- duction 591 0 0 -1 -1 590 EDPRNA DG PA Altoona LLC USA - 85% N.A. Photovoltaic energy pro- duction 6 0 0 -26 -26 -20 EDPRNA DG PA Bethlehem LLC USA - 85% N.A. Photovoltaic energy pro- duction 58 0 0 0 0 58
193 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL EDPRNA DG PA Bloomsburg LLC USA - 85% N.A. Photovoltaic energy pro- duction 55 0 0 0 0 55 EDPRNA DG PA Carlisle LLC USA - 85% N.A. Photovoltaic energy pro- duction 18 0 0 0 0 18 EDPRNA DG PA Clearfield LLC USA - 85% N.A. Photovoltaic energy pro- duction 19 0 0 0 0 19 EDPRNA DG PA DuBois LLC USA - 85% N.A. Photovoltaic energy pro- duction 18 0 0 0 0 18 EDPRNA DG PA East Lancaster LLC USA - 85% N.A. Photovoltaic energy pro- duction 17 0 0 0 0 17 EDPRNA DG PA Easton LLC USA - 85% N.A. Photovoltaic energy pro- duction 53 0 0 0 0 53 EDPRNA DG PA Emigsville LLC USA - 85% N.A. Photovoltaic energy pro- duction 6 0 0 -6 -6 0 EDPRNA DG PA Erie LLC USA - 85% N.A. Photovoltaic energy pro- duction 6 0 0 -6 -6 0 EDPRNA DG PA Harrisburg LLC USA - 85% N.A. Photovoltaic energy pro- duction 18 0 0 0 0 18 EDPRNA DG PA Hatfield LLC USA - 85% N.A. Photovoltaic energy pro- duction 18 0 0 0 0 18 EDPRNA DG PA Hazleton LLC USA - 85% N.A. Photovoltaic energy pro- duction 6 0 0 -6 -6 0 EDPRNA DG PA Indiana LLC USA - 85% N.A. Photovoltaic energy pro- duction 6 0 0 -6 -6 0 2023 SOL VIII LLC USA - 100% PwC Power produc- tion 505,888 0 0 -20 -20 505,868 EDPR Solar Ven- tures VIII LLC USA - 100% N.A. Photovoltaic energy pro- duction 195,835 0 0 29,108 29,108 224,943 EDPR Magnolia DevCo LLC USA - 100% N.A. Power produc- tion 0 0 0 0 0 0 EDPR Magnolia Holdings LLC USA - 100% N.A. Power produc- tion 0 0 0 0 0 0 EDPR Solar Ven- tures IX LLC USA - 100% PwC Photovoltaic energy pro- duction -19,608 0 -5,997 49,181 49,181 23,576 EDPR Dahlia DevCo LLC USA - 100% N.A. Power produc- tion 0 0 0 0 0 0 EDPR Dahlia Holdings LLC USA - 100% N.A. Power produc- tion 0 0 0 0 0 0 Jericho Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Black River Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Crooked Lake So- lar III LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Trailing Springs Almacenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Daffodil Grove Al- macenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Longleaf Alma- cenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Flatland Alma- cenamiento LLC USA - 100% N.A. Storage 0 0 0 -283 -283 -283 Sandrini BESS Al- macenamiento LLC USA - 100% N.A. Storage 0 0 0 -78 -78 -78 EDPRNA DG PA Lehighton LLC USA - 85% N.A. Photovoltaic energy pro- duction 17 0 0 0 0 17 EDPRNA DG PA Lewistown LLC USA - 85% N.A. Photovoltaic energy pro- duction 18 0 0 0 0 18 EDPRNA DG PA Lock Haven LLC USA - 85% N.A. Photovoltaic energy pro- duction 38 0 0 0 0 38
194 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL EDPRNA DG PA Mansfield LLC USA - 85% N.A. Photovoltaic energy pro- duction 17 0 0 0 0 17 EDPRNA DG PA Mt Pocono DC 2 LLC USA - 85% N.A. Photovoltaic energy pro- duction 4 0 0 -5 -5 0 EDPRNA DG PA Mt Pocono DC 3 LLC USA - 85% N.A. Photovoltaic energy pro- duction 4 0 0 -5 -5 -1 EDPRNA DG PA Mt Pocono DC LLC USA - 85% N.A. Photovoltaic energy pro- duction 6 0 0 -6 -6 0 EDPRNA DG PA Mt Pocono LLC USA - 85% N.A. Photovoltaic energy pro- duction 18 0 0 0 0 18 EDPRNA DG PA Pennsylvania RD 2 LLC USA - 85% N.A. Photovoltaic energy pro- duction 13 0 0 0 0 13 EDPRNA DG PA Pennsylvania RD 3 LLC USA - 85% N.A. Photovoltaic energy pro- duction 8 0 0 0 0 8 EDPRNA DG PA Pennsylvania RD LLC USA - 85% N.A. Photovoltaic energy pro- duction 14 0 0 -1 -1 13 EDPRNA DG PA Pittston 2 LLC USA - 85% N.A. Photovoltaic energy pro- duction 4 0 0 -5 -5 -1 EDPRNA DG PA Pittston 3 LLC USA - 85% N.A. Photovoltaic energy pro- duction 4 0 0 -5 -5 -1 EDPRNA DG PA Pittston DC 2 LLC USA - 85% N.A. Photovoltaic energy pro- duction 7 0 0 0 0 7 EDPRNA DG PA Pittston DC 3 LLC USA - 85% N.A. Photovoltaic energy pro- duction 8 0 0 0 0 8 EDPRNA DG PA Pittston DC LLC USA - 85% N.A. Photovoltaic energy pro- duction 14 0 0 0 0 14 EDPRNA DG PA Pittston LLC USA - 85% N.A. Photovoltaic energy pro- duction 4 0 0 -5 -5 -1 EDPRNA DG PA Pottsville LLC USA - 85% N.A. Photovoltaic energy pro- duction 17 0 0 0 0 16 EDPRNA DG PA Quakertown LLC USA - 85% N.A. Photovoltaic energy pro- duction 16 0 0 0 0 16 EDPRNA DG PA Sayre LLC USA - 85% N.A. Photovoltaic energy pro- duction 18 0 0 0 0 17 EDPRNA DG PA Scranton LLC USA - 85% N.A. Photovoltaic energy pro- duction 57 0 0 0 0 57 EDPRNA DG PA Somerset LLC USA - 85% N.A. Photovoltaic energy pro- duction 21 0 0 0 0 21 EDPRNA DG PA South Reading LLC USA - 85% N.A. Photovoltaic energy pro- duction 19 0 0 0 0 19 EDPRNA DG PA Stroudsburg LLC USA - 85% N.A. Photovoltaic energy pro- duction 18 0 0 0 0 17 EDPRNA DG PA Sunbury LLC USA - 85% N.A. Photovoltaic energy pro- duction 52 0 0 0 0 52 EDPRNA DG PA Warren LLC USA - 85% N.A. Photovoltaic energy pro- duction 18 0 0 0 0 18 EDPRNA DG PA West Lancaster LLC USA - 85% N.A. Photovoltaic energy pro- duction 18 0 0 0 0 18 EDPRNA DG PA Whitehall LLC USA - 85% N.A. Photovoltaic energy pro- duction 17 0 0 0 0 17 EDPRNA DG PA Wilkes-Barre LLC USA - 85% N.A. Photovoltaic energy pro- duction 6 0 0 -6 -6 0 EDPRNA DG North Carolina Development LLC USA - 85% N.A. Photovoltaic energy pro- duction 1 0 0 -1 -1 0
195 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Bear Peak Bethel LLC USA - 85% N.A. Photovoltaic energy pro- duction 181 0 0 -1 -1 180 Bear Peak Big Spring LLC USA - 85% N.A. Photovoltaic energy pro- duction 129 0 0 -1 -1 128 Bear Peak Cass LLC USA - 85% N.A. Photovoltaic energy pro- duction 116 0 0 -1 -1 115 Bear Peak Harri- son LLC USA - 85% N.A. Photovoltaic energy pro- duction 59 0 0 -1 -1 58 Bear Peak Read- ing LLC USA - 85% N.A. Photovoltaic energy pro- duction 131 0 0 -1 -1 130 Bear Peak Ridge II LLC USA - 85% N.A. Photovoltaic energy pro- duction 52 0 0 -1 -1 51 Bear Peak Valley LLC USA - 85% N.A. Photovoltaic energy pro- duction 55 0 0 -1 -1 54 BPP OH Defiance PV I LLC USA - 85% N.A. Photovoltaic energy pro- duction 79 0 0 -1 -1 78 EDPRNA DG GA Cave Spring LLC USA - 85% N.A. Photovoltaic energy pro- duction 351 0 0 -1 -1 350 RPIL Solar 16 LLC USA - 85% N.A. Photovoltaic energy pro- duction 6,111 0 0 1 1 6,112 Swan River Solar LLC USA - 85% N.A. Photovoltaic energy pro- duction 35 0 0 -26 -26 9 Swan River Solar 2 LLC USA - 85% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 2024 Sol X LLC USA - 100% N.A. Holding 165,204 0 0 8 8 165,212 EDPR Solar Ven- tures X LLC USA - 100% N.A. Holding 99,027 0 0 474 474 99,501 EDPR Cardinal Holdings LLC USA - 100% N.A. Holding 0 0 0 0 0 0 EDPR Cardinal DevCo LLC USA - 100% N.A. Holding 0 0 0 0 0 0 2024 SOL XI LLC USA - 100% N.A. Holding 313,878 0 0 -2 -2 313,876 EDPR Solar Ven- tures XI LLC USA - 100% N.A. Holding 160,382 0 0 1,354 1,354 161,736 EDPR Goldfinch Holdings LLC USA - 100% N.A. Holding 0 0 0 0 0 0 EDPR Goldfinch DevCo LLC USA - 100% N.A. Holding 0 0 0 0 0 0 2024 SOL XV LLC USA - 100% N.A. Holding 160,549 0 0 0 0 160,549 EDPR Solar Ven- tures XV LLC USA - 100% N.A. Holding 160,549 0 0 0 0 160,549 EDPR Sandrini Holdings LLC USA - 100% N.A. Holding -1 0 0 0 0 -1 EDPR NA DevCo LLC USA - 100% N.A. Holding 0 0 0 0 0 0 2024 SOL XVI LLC USA - 100% N.A. Holding 89,512 0 0 0 0 89,512 EDPR Solar Ven- tures XVI LLC USA - 100% N.A. Holding 89,513 0 0 -1 -1 89,512 Hickory BESS LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Peach Grove BESS LLC USA - 100% N.A. Storage 0 0 0 -20 -20 -20 Pleasantville Al- macenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Sonrisa BESS LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Indigo Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Western Star So- lar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDPR Solar Ven- tures XII LLC USA - 100% N.A. Holding 253,308 0 0 356 356 253,664 2024 SOL XII LLC USA - 100% N.A. Holding 462,147 0 0 8 8 462,155 EDPR Solar Ven- tures XIV LLC USA - 100% N.A. Holding 162,211 0 0 8 8 162,219
196 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL 2024 SOL XIV LLC USA - 100% N.A. Holding 223,552 0 0 0 0 223,552 Big River Energy Almacenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Teays River Energy Almace- namiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Las Camas Energy Almace- namiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Sweet Acres En- ergy Almacenamiento LLC USA - 100% N.A. Storage 0 0 0 0 0 0 2024 SOL XVII LLC USA - 100% N.A. Holding 0 0 0 0 0 0 EDPR Solar Ven- tures XVII LLC USA - 100% N.A. Holding 0 0 0 0 0 0 Breezeway Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 2025 BATERIA I, LLC USA - 100% N.A. Storage 0 0 0 0 0 0 2025 BATERIA II, LLC USA - 100% N.A. Storage 0 0 0 0 0 0 EDPR BESS Ven- tures I, LLC USA - 100% N.A. Storage 0 0 0 0 0 0 EDPR BESS Ven- tures II, LLC USA - 100% N.A. Storage 0 0 0 0 0 0 EDPR Sandrini BESS Holdings, LLC USA - 100% N.A. Storage 0 0 0 0 0 0 Emerald Bluffs Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Juneau Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Overton Solar Park LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Pleasantville So- lar Park II LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Rail Splitter Wind Farm III LLC USA - 100% N.A. Wind power production 0 0 0 0 0 0 EDP Renewables Vietnam Com- pany Limited Vietnam - 100% PwC Holding 267 -2,705 0 596 596 -1,842 Trung Son Energy Development LLC Vietnam - 100% PwC Photovoltaic energy pro- duction 7,308 236 0 -885 -885 6,659 CMX RE Sunseap Vietnam Solar Power Co., Ltd. Vietnam - 55% PwC Photovoltaic energy pro- duction 39,527 11,968 33 5,922 5,922 57,450 Sunseap Com- mercial & Industrial Assets (Vietnam) Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 4,582 -7,457 0 -27,489 -27,489 -30,364 Sunseap Sun Times Solar In- vestment Co., Ltd. Vietnam - 90% PwC Photovoltaic energy pro- duction 3,818 -21 0 -3 -3 3,794 Sunseap KTG En- ergy Investment Co., Ltd. Vietnam - 59% PwC Photovoltaic energy pro- duction 203 3 0 -4 -4 202 Sun Times 1 En- ergy Co., Ltd. Vietnam - 90% PwC Photovoltaic energy pro- duction 180 -1 0 19 19 198 Sun Times 3 En- ergy Co., Ltd. Vietnam - 90% PwC Photovoltaic energy pro- duction 532 55 0 83 83 670 Sun Times 4 En- ergy Co., Ltd. Vietnam - 90% PwC Photovoltaic energy pro- duction 180 -12 0 16 16 184 Sun Times 5 En- ergy Co., Ltd. Vietnam - 90% PwC Photovoltaic energy pro- duction 520 24 0 71 71 615 Sun Times 6 En- ergy Co., Ltd. Vietnam - 90% PwC Photovoltaic energy pro- duction 524 7 0 -357 -357 174
197 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Sun Times 7 En- ergy Co., Ltd. Vietnam - 90% PwC Photovoltaic energy pro- duction 342 -4 0 -151 -151 187 STP5 Prod. ener- gía Trading Co., Ltd. Vietnam - 90% PwC Photovoltaic energy pro- duction 483 68 0 83 83 634 STP6 Energy Trading Technical Co., Ltd. Vietnam - 90% PwC Photovoltaic energy pro- duction 542 34 0 75 75 651 STP7 Energy De- velopment Co., Ltd. Vietnam - 90% PwC Photovoltaic energy pro- duction 167 -8 0 15 15 174 STP8 Energy In- vestment Co., Ltd. Vietnam - 90% PwC Photovoltaic energy pro- duction 343 20 0 51 51 414 SSKT Beta Energy Co., Ltd. Vietnam - 59% PwC Photovoltaic energy pro- duction 203 83 0 32 32 318 DKT Energy In- vestment Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 3,854 -33 0 -5 -5 3,816 H2A Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 334 -71 0 -2 -2 261 H2HA Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 334 -112 0 -114 -114 108 H2HD Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 334 -125 0 -60 -60 149 H2HO Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 334 -96 0 -25 -25 213 H2HU Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 334 -59 0 -16 -16 259 H2K Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 334 -87 0 -77 -77 170 H2ML Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 334 -51 0 -37 -37 246 H2O Ben Luc In- vestment Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 252 -47 0 -18 -18 188 H2S Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 334 -81 0 -18 -18 235 H2T Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 334 -115 0 -53 -53 166 H2TR Solar Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 334 -58 0 0 0 276 H2VP Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 334 -88 0 -7 -7 239 Uper Renewable Energy Vietnam Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 86 69 0 -9 -9 145 Xuan Thien Ninh Thuan Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 33,014 1,472 0 9,980 9,980 44,466 Xuan Thien Thuan Bac Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 20,402 996 0 5,310 5,310 26,708 Long Dai Phat In- vestment Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 2,654 -10 0 14 14 2,658 Bien Dong Energy Investment Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 334 -118 0 -35 -35 181 Kim Cuong En- ergy Investment Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 334 -129 0 -46 -46 159 Phu An Energy In- vestment Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 334 -137 0 -17 -17 180 Hao Thanh Dat Investment Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 334 -122 0 -33 -33 179 Thiet Thanh Cong Investment Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 334 -139 0 -27 -27 168
198 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Incom Interna- tional Investment and Develop- ment Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 523 -63 0 -48 -48 412 Quang Lam Print- ing Import Export Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 458 -29 0 -30 -30 399 Millennium En- ergy Investment Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 2,597 23 0 3 3 2,623 Lam Gia Luat Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 538 -89 0 25 25 474 Dai Linh Phat Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 538 -8 0 58 58 588 HTD Vietnam In- vestment Development Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 334 5 0 57 57 396 HTT Binh Duong Investment De- velopment Co., Ltd. Vietnam - 100% PwC Photovoltaic energy pro- duction 1,113 7 0 122 122 1,242 THOUSAND EUROS JOINTLY CON- TROLLED ENTITIES AND ASSOCIATES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Sharp Hills Canada - 20% N.A. Wind power production 5 43,515 0 934 934 44,454 Kronos IBV UK – EM Germany - 50% N.A. Photovoltaic energy produc- tion 13 -872 0 1,319 1,319 459 KSD 20 UG Germany - 50% N.A. Photovoltaic energy produc- tion 1 -17 0 -39 -39 -55 Biomasas del Piri- neo, S.A. Spain - 30% N.A. Biomass 136 -65 0 0 0 71 Solar Siglo XXI, S.A. Spain - 25% N.A. Photovoltaic energy produc- tion 20 -4 0 0 0 16 Desarrollos Eólicos de Canarias, S.A. Spain - 45% PwC Wind power production 813 162 0 254 254 1,229 Parque Eólico Sie- rra del Madero, S.A. Spain - 42% KPMG Wind power production 3,021 19,813 0 660 660 23,495 Desarrollos Energé- cos Canarios, S.A. Spain - 50% N.A. Wind power production 7 -12 0 0 0 -5 Parque Eólico Bel- monte, S.A. Spain - 30% KPMG Wind power production 36 4,688 0 -28 -28 4,696 Evolución 2000, S.L. Spain - 49% PwC Wind power production 58 13,309 0 1,038 1,038 14,405 Eos Pax IIa, S.L. Spain - 49% Deloie Wind power production 3 506 0 686 686 1,195 Unión de Genera- dores de Energía, S.L. Spain - 50% PwC Wind power production 12 1,233 0 96 96 1,341 Archidona Subesta- ción S3, A.I.E. Spain - 31% N.A. Power produc- tion 0 884 0 0 0 884 Promotores Mudejar Norte 220KV Spain - 12% N.A. Power produc- tion 0 361 0 0 0 362 OW Offshore, S.L. Spain - 50% PwC Holding 36,103 545,805 0 -31,577 -31,577 550,331 Occey Energie, S.A.S. France - 51% N.A. Wind power production 314 -2 0 -2 -2 310 Evoikos Voreas A.E. Greece - 51% PwC Wind power production 127 1,757 0 -593 -593 1,291 Sofrano A.E. Greece - 51% PwC Wind power production 587 1,756 0 -312 -312 2,031 Sunseap Energy (Cambodia) Co., Ltd. Cambodia - 49% N.A. Photovoltaic energy produc- tion 172 1 0 0 0 173 Sunseap LCS En- ergy Sdn. Bhd. Malaysia - 49% HLCO Photovoltaic energy produc- tion 11 957 0 77 77 1,045 Cenergi Sunseap Energy Soluons Sdn. Bhd. Malaysia - 40% EY Photovoltaic energy produc- tion 861 836 0 1 1 1,698 RL Sunseap Energy Sdn. Bhd. Malaysia - 49%Crowe Malaysia PLT Photovoltaic energy produc- tion 264 -25 0 18 18 256
199 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS JOINTLY CON- TROLLED ENTITIES AND ASSOCIATES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Powersource Sun- seap Corp. Philippines - 40% N.A. Photovoltaic energy produc- tion 0 0 0 0 0 0 Powersource Sun- seap Solar Soluon Corp. Philippines - 40% N.A. Photovoltaic energy produc- tion 0 0 0 0 0 0 Lomarco Invest- ments, Sp. z o.o. Poland - 50% N.A. Power produc- tion 1 -1 0 -1 -1 -1 Medsteville Invest- ments, Sp. z o.o. Poland - 50% N.A. Power produc- tion 1 -1 0 -1 -1 -1 Ondenlle Invest- ments, Sp. z o.o. Poland - 50% N.A. Power produc- tion 1 -1 0 -1 -1 -1 Eólica de São Ju- lião, Lda. Portugal - 45% N.A. Wind power production 225 2,511 -795 2,042 2,042 3,983 Hytlanc, S.A. Portugal - 29% E&Y Power produc- tion 14 364 0 -49 -49 329 Solar Ventures Ac- quision LLC USA - 50% N.A. Photovoltaic energy produc- tion -21,648 23,320 0 5 5 1,676 Flat Rock Windpower II LLC USA - 50% PwC Wind power production 103,872 -65,216 0 -3,627 -3,627 35,029 Flat Rock Windpower LLC USA - 50% PwC Wind power production 263,904 -169,269 0 -9,020 -9,020 85,614 Riverstart Develop- ment LLC USA - 20% N.A. Photovoltaic energy produc- tion 0 0 0 0 0 0 Sol V - Riverstart USA - 20% PwC Photovoltaic energy produc- tion 40,605 -960 0 5,898 5,898 45,543 Goldfinger Ven- tures LLC USA - 50% PwC Photovoltaic energy produc- tion 72,344 4,609 0 5,733 5,733 82,686 Goldfinger Ven- tures II LLC USA - 50% PwC Photovoltaic energy produc- tion 101,853 9,391 0 9,244 9,244 120,489 EDPR Wind Ven- tures XX LLC USA - 20% N.A. Wind power production -92,120 138,649 -21,539 5,965 5,965 30,955 EDPR Wind Ven- tures XIX LLC USA - 20% N.A. Wind power production -93,040 113,280 -4,054 5,925 5,925 22,111 EDPR Wind Ven- tures XVII LLC USA - 20% N.A. Wind power production -167,622 208,028 0 6,652 6,652 47,058 EDPR Solar Ven- tures VII LLC MEP USA - 20% PwC Photovoltaic energy produc- tion 36,369 1,241 -2,423 -15,625 -15,625 19,562 EDPR Solar Ven- tures IX LLC MEP USA - 20% PwC Photovoltaic energy produc- tion -19,608 0 -5,997 49,181 49,181 23,576
200 EDPR Individual Annual Report 2024 Part II Annex II EDP Renováveis S.A. Details of investments in Group companies at 31 December 2023 *Companies included in the Company’s tax group (Note 18) THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL EDP Renewables Europe, S.L.U. Spain 100% - PwC Holding 249,499 1,212,667 0 915,612 915,612 2,377,778 EDP Renovables España, S.L.U. Spain 100% - PwC Holding, con- struction and wind energy production 46,128 983,409 18,048 241,061 241,061 1,288,646 EDP Renováveis Servicios Finan- cieros, S.A. Spain 70% 30% PwC Other eco- nomic activities 84,691 542,734 14,073 20,442 20,442 661,941 EDPR Terral S.L.U. Spain - 100% N.A. Wind energy production 3 -4 0 0 0 -2 Parque Eólico de Abrazadilla, S.L.U. Spain - 100% N.A. Wind energy production 7 -3 0 -1 -1 3 Canerde, S.L. Spain - 80% N.A. Wind energy production 4 -4 0 0 0 0 Desarrollos Re- novables de la Frontera, S.L.U. Spain - 100% N.A. 6 -1 0 -1 -1 3 EDPR Yield, S.A.U. Spain - 100% PwC Wind energy production 99,405 143,217 0 26,300 26,300 268,922 Parque Eólico Santa Quiteria, S.L. Spain - 84% PwC Wind energy production 63 9,869 0 2,015 2,015 11,946 Eólica Fontesi- lva, S.L.U. Spain - 100% PwC Wind energy production 6,860 21,523 0 2,154 2,154 30,537 Desarrollos Eóli- cos de Teruel, S.L. Spain - 51% N.A. Wind energy production 18,890 3,319 0 4,689 4,689 26,898 Parque Eólico Altos del Voltoya, S.A. Spain - 93% PwC Wind energy production 6,434 26,949 -2,972 1,666 1,666 32,078 Eólica La Brújula, S.A.U. Spain - 100% PwC Wind energy production 3,294 35,384 0 2,768 2,768 41,445 Eólica Arlanzón, S.A. Spain - 85% PwC Wind energy production 4,509 4,586 0 1,818 1,818 10,914 Eólica Campol- lano, S.A. Spain - 75% PwC Wind energy production 6,560 31,030 0 4,764 4,764 42,354 Tébar Eólica, S.A.U. Spain - 100% PwC Wind energy production 4,720 20,414 0 2,612 2,612 27,747 Renovables Castilla La Man- cha, S.A. Spain - 90% PwC Wind energy production 60 8,623 0 1,613 1,613 10,296 Parque Eólico La Sotonera, S.L. Spain - 70% PwC Wind energy production 2,000 6,379 0 1,853 1,853 10,233 Compañía Eó- lica Aragonesa, S.A.U. Spain - 100% PwC Wind energy production 6,701 76,758 0 3,708 3,708 87,167 Parque Eólico Los Cantales, S.L.U. Spain - 100% PwC Wind energy production 1,963 10,257 0 1,262 1,262 13,482 Iberia Aprove- chamientos Eólicos, S.A. Spain - 94% PwC Wind energy production 1,919 9,685 0 2,234 2,234 13,838 Acampo Arias, S.L. Spain - 95% PwC Wind energy production 3,314 6,266 0 5,355 5,355 14,936 Aplicaciones In- dustriales de Energías Lim- pias, S.L. Spain - 61% N.A. Wind energy production 131 35 0 1,851 1,851 2,018 San Juan de Bargas Eólica, S.L. Spain - 100% PwC 2,000 3,850 0 510 510 6,360 Global Pracima, S.L. Spain - 100% 4 5,281 0 -24 -24 5,261 EDPR México, S.L.U. Spain - 100% Holding 7 -3 0 0 0 4 Desarrollos Re- novables de Allande, S.L.U. Spain - 100% N.A. 6 -2 0 0 0 3 IAM Caecius, S.L. Spain - 100% N.A. Wind energy production 6 -2 0 0 0 4 Site Sunwind Energy, S.L. Spain - 100% N.A. Wind energy production 6 -2 0 0 0 4 Desarrollos Re- novables de Teruel, S.L. Spain - 51% N.A. Wind energy production 3 -1 0 -2 -2 0 Rocio Hive, S.L. Spain - 100% N.A. 3 435 0 -125 -125 313 Palma Hive, S.L. Spain - 100% N.A. 3 384 0 0 0 387
201 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Pedregal Hive, S.L. Spain - 100% N.A. 3 415 0 0 0 418 Desarrollos Re- novables de Alfajarin, S.L.U. Spain - 100% 6 -2 0 0 0 3 Jul Solar, S.L. Spain - 100% 3 576 0 0 0 579 Agos Fotovol- taicas, S.L. Spain - 100% 3 559 0 0 0 562 Corona Fotovol- taicas, S.L. Spain - 100% 3 981 0 0 0 984 Saussignac So- laire, S.A.S. France - 100% 5 -8 0 0 0 -3 Vanosc Energie, S.A.S. France - 100% na Wind energy production 1 -15 0 -4 -4 -18 Transition Eu- roise Roman II, S.A.S. France - 85% na Wind energy production 603 356 0 146 146 1,105 EDPR Energies France, S.A.S. France - 100% PwC Wind energy production 215 -728 0 394 394 -119 Parc Éolien d’Entrains-sur- Nohain, S.A.S. France - 90% PwC Wind energy production 266 -83 0 -3 -3 179 EDPR France Holding, S.A.S. France - 100% PwC Holding 79,900 25,210 0 -151 -151 104,958 Parc Eolien de Dionay, S.A.S. France - 100% PwC Wind energy production 215 -132 0 -9 -9 74 Monts de la Ma- deleine Energie, S.A.S. France - 100% PwC Wind energy production 88 -63 0 -4 -4 21 Monts du Forez Energie, S.A.S. France - 100% PwC Wind energy production 200 -105 0 -6 -6 89 EDP Renewables Belgium, S.A. Belgium - 100% PwC Holding and wind energy production 287 1,990 0 995 995 3,272 EDP Renewables Italia, S.r.l. Italy - 51% PwC Holding and wind energy production 34,439 20,198 0 19,478 19,478 74,116 EDP Renewables Italia Holding, S.r.l. Italy - 100% PwC Holding 347 280,634 -317 14,603 14,603 295,267 Re Plus, S.r.l. Italy - 100% N.A. Wind energy production 100 14 0 -9 -9 106 EDPR Villa Galla, S.r.l. Italy - 51% PwC Wind energy production 9,000 52,933 0 10,059 10,059 71,992 Tivano, S.r.l. Italy - 75% PwC Wind energy production 100 154 0 1,653 1,653 1,907 AW 2, S.r.l. Italy - 75% PwC Wind energy production 100 -28 0 2,428 2,428 2,500 Sarve, S.r.l. Italy - 100% PwC Wind energy production 10 963 0 2,419 2,419 3,392 T Power, S.p.A. Italy - 100% Baker Tilly Revisa Wind energy production 1,000 351 0 -29 -29 1,322 Custolito, S.r.l. Italy - 100% N.A. Wind energy production 10 12 0 -6 -6 16 C & C Tre Energy S.r.l. Italy - 100% PwC Wind energy production 100 744 0 1,520 1,520 2,365 EDPR Sicilia PV, S.r.l. Italy - 100% N.A. Photovoltaic energy pro- duction 10 208 0 -37 -37 181 Energia Emis- sioni Zero 4, S.r.l. Italy - 60% PwC Wind energy production 10 2,940 0 4,754 4,754 7,704 EDPR Sicilia Wind, S.r.l. Italy - 100% N.A. Wind energy production 10 252 0 -1,058 -1,058 -795 VRG Wind 153, S.r.l. Italy - 80% PwC Wind energy production 10 2,975 0 2,297 2,297 5,282 Wind Energy San Giorgio, S.r.l. Italy - 60% PwC Wind energy production 20 1,995 0 1,256 1,256 3,271 Giglio, S.r.l. Italy - 60% PwC Wind energy production 20 2,144 0 1,084 1,084 3,248 Winderg Val- leverde, S.r.l. Italy - 60% 180 126 0 -3 -3 303 EDPR Centro Ita- lia PV, S.r.l. Italy - 100% N.A. Photovoltaic energy pro- duction 10 275 0 -10 -10 274 EDPR Sicilia Uno, S.r.l. Italy - 100% N.A. 10 83 0 -8 -8 86 EDPR Sicilia Due, S.r.l. Italy - 100% N.A. 10 94 0 -9 -9 94 EDPR Sardegna, S.r.l. Italy - 100% N.A. 10 -3 0 -11 -11 -4 EDPR Sud Italia, S.r.l. Italy - 100% N.A. 10 52 0 -17 -17 45 EDPR Sicilia Tre, S.r.l. Italy - 100% N.A. 10 0 0 -15 -15 -6 EDPR Puglia Due, S.r.l. Italy - 100% N.A. 10 0 0 -71 -71 -61 EDPR Basilicata, S.r.l. Italy - 100% N.A. 10 87 0 -23 -23 74
202 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL SPEE - Socie- dade Produção de Energia Eó- lica, S.A. Portugal - 100% 350 0 0 62 62 412 Eólica da Cou- tada II, S.A. Portugal - 100% PwC 50 2,966 0 675 675 3,691 Fotovoltaica Flu- tuante do Grande Lago, S.A. Portugal - 100% PwC 50 -93 -1,406 -481 -481 -1,930 EDP Renováveis Portugal, S.A. Portugal - 51% PwC Holding and wind energy production 7,500 144,987 -750 50,413 50,413 202,150 Eólica da Serra das Alturas, S.A. Portugal - 26% PwC Wind energy production 50 7,889 0 1,920 1,920 9,858 Eólica de Mon- tenegrelo, S.A. Portugal - 26% PwC Wind energy production 50 11,743 0 2,851 2,851 14,643 Eólica de Ala- goa, S.A. Portugal - 31% PwC Wind energy production 50 3,589 0 1,590 1,590 5,229 Malhadizes - Energia Eólica, S.A. Portugal - 51% PwC Wind energy production 50 10,766 1,521 1,680 1,680 14,017 EDPR PT - Pro- moção e Operação, S.A. Portugal - 100% PwC Wind energy production 58 354,166 0 1,797 1,797 356,020 Fotovoltaica Lote A, S.A. Portugal - 100% PwC Photovoltaic energy pro- duction 50 8 14,413 5,659 5,659 20,131 Eólica dos Altos de Salgueiros- Guilhado, S.A. Portugal - 51% PwC Wind energy production 50 4,965 0 1,088 1,088 6,103 Eólica da Cou- tada, S.A. Portugal - 51% PwC Wind energy production 50 66,372 -24 11,631 11,631 78,029 Eólica do Espi- gão, S.A. Portugal - 51% PwC Wind energy production 50 15,103 0 2,946 2,946 18,099 Eólica da Terra do Mato, S.A. Portugal - 51% PwC Wind energy production 50 13,977 2 2,689 2,689 16,719 Eólica do Alto da Lagoa, S.A. Portugal - 51% PwC Wind energy production 50 12,067 1 2,647 2,647 14,765 Eólica do Alto da Teixosa, S.A. Portugal - 51% PwC Wind energy production 50 12,405 0 2,422 2,422 14,877 Eólica do Alto do Mourisco, S.A. Portugal - 51% PwC Wind energy production 50 10,395 1 2,485 2,485 12,930 Eólica das Ser- ras das Beiras, S.A. Portugal - 51% PwC Wind energy production 50 48,912 -8 7,263 7,263 56,217 EDPR PT - Par- ques Eólicos, S.A. Portugal - 51% PwC Wind energy production 50 37,603 0 12,729 12,729 50,382 S.E.E. - Sul Ener- gía Eólica, S.A. Portugal - 100% PwC Wind energy production 150 6,707 0 1,251 1,251 8,108 Parque Eólico do Barlavento, S.A. Portugal - 90% PwC Wind energy production 60 31,999 0 8,893 8,893 40,952 EDPR Cross So- lutions, S.A. Portugal - 100% PwC 50 -39 0 125 125 136 R.Wind, Sp. z o.o. Poland - 100% N.A. Wind energy production 1 -157 0 -26 -26 -182 EDP Renewables Polska, Sp. z o.o. Poland - 100% PwC Holding and wind energy production 100,056 158,947 0 280,353 280,353 539,356 Relax Wind Park III, Sp. z o.o. Poland - 51% PwC Wind energy production 13,708 27,220 0 3,823 3,823 44,751 Relax Wind Park I, Sp. z o.o. Poland - 51% PwC Wind energy production 10,704 47,298 0 12,703 12,703 70,705 Elektrownia Wiatrowa Kresy I, Sp. z o.o. Poland - 51% PwC Wind energy production 16 100,392 0 12,709 12,709 113,117 Masovia Wind Farm I, Sp. z o.o. Poland - 100% PwC Wind energy production 289 -368 0 -26 -26 -105 Farma Wiatrowa Starozreby, Sp. z o.o. Poland - 100% N.A. Wind energy production 107 177 0 -19 -19 265 Karpacka Mala Energetyka, Sp. z o.o. Poland - 85% N.A. Wind energy production -245 -243 0 -63 -63 -552 Farma Fotowol- taiczna Iłża, Sp. z o.o. Poland - 100% 1 0 0 -1 -1 1 Molen Wind II, Sp. z o.o. Poland - 51% PwC Wind energy production 3 29,157 301 6,128 6,128 35,590 Korsze Wind Farm, Sp. z o.o. Poland - 51% PwC Wind energy production 8,223 29,472 0 11,612 11,612 49,308 Radziejów Wind Farm, Sp. z o.o. Poland - 51% PwC Wind energy production 6,349 256 0 256 256 6,860 Miramit Invest- ments, Sp. z o.o. Poland - 100% N.A. Wind energy production 13 128 0 -41 -41 100 EDP Renewables Polska HoldCo, S.A. Poland - 51% PwC Holding 23 236,836 0 -45 -45 236,814
203 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Rampton, Sp. z o.o. Poland - 100% N.A. Wind energy production 2,531 -103 0 -72 -72 2,356 EDP Renewables Polska Solar, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 -1,678 -30 -489 -489 -2,196 Gudziki Wind Farm, sp. z o.o. Poland - 51% N.A. Wind energy production 8,214 4,248 3,296 1,495 1,495 17,254 Energiaki Arva- nikou E.P.E. Greece - 100% PwC Wind energy production 1,312 15,027 0 -1,097 -1,097 15,242 Wind Park Aerorrachi M.A.E. Greece - 100% PwC Wind energy production 496 -3,112 0 -172 -172 -2,788 EDPR Hellas 1 M.A.E. Greece - 100% PwC Wind energy production 2,855 -855 0 -926 -926 1,074 EDPR Hellas 2 M.A.E. Greece - 100% PwC Wind energy production 670 786 0 -897 -897 559 Aioliko Parko Fthiotidas Erimia A.E. Greece - 100% PwC Wind energy production 880 584 0 -1,655 -1,655 -191 Wind Shape A.E. Greece - 100% N.A. Wind energy production 550 230 0 -359 -359 420 Aioliki Oitis En- ergiaki A.E. Greece - 100% N.A. Wind energy production 1,993 222 0 -238 -238 1,977 Kadmeios Ane- mos Energiaki A.E. Greece - 100% N.A. Wind energy production 2,825 -1,386 0 -405 -405 1,034 Voiotikos Ane- mos Energiaki A.E. Greece - 100% N.A. Wind energy production 1,225 -570 0 -481 -481 174 Aeolos Evias En- ergiaki, M.A.E. Greece - 100% N.A. 4,125 -684 0 -387 -387 3,054 EDPR România, S.R.L. Romania - 100% PwC Wind energy production 299,775 123,945 0 61,376 61,376 485,095 International So- lar Energy, S.R.L. Romania - 100% N.A. Photovoltaic energy pro- duction 0 -246 0 -1,141 -1,141 -1,387 Solar Phoenix, S.R.L. Romania - 100% N.A. Photovoltaic energy pro- duction 16 -285 0 -141 -141 -410 Energopark, S.R.L. Romania - 100% N.A. Wind energy production 27 -134 0 -219 -219 -326 Beta Wind, S.R.L. Romania - 100% N.A. Wind energy production 42 4,859 0 -205 -205 4,696 Fravezac, S.R.L. Romania - 100% N.A. 1,169 -630 0 -126 -126 413 Szabadsolar, Kſt. Hungary - 100% PwC 8 -403 0 -977 -977 -1,371 Sunglare Cap- ture, Kſt. Hungary - 100% PwC 8 -328 0 -365 -365 -685 Sunglare Expert, Kſt. Hungary - 100% PwC 8 -322 0 -359 -359 -672 EDPR Terra, Kſt. Hungary - 100% 8 0 0 -2 -2 6 EDPR Silvanus, Kſt. Hungary - 100% 8 0 0 -2 -2 6 EDP Renewables Hungary Hungary - 100% PwC Holding 79 803 0 -776 -776 106 Sunlight Solar, Kſt. Hungary - 85% PwC Photovoltaic energy pro- duction 13 -1,710 0 477 477 -1,220 Napenergia, Kſt. Hungary - 100% PwC 8 -657 0 -1,466 -1,466 -2,115 Nyírség Wa, Kſt. Hungary - 100% PwC Wind energy production 818 32 0 -478 -478 372 Altnabreac Wind Farm Limited UK - 100% PwC Wind energy production 0 -1,933 0 -1,023 -1,023 -2,956 Ben Sca Wind Farm Limited UK - 100% PwC Wind energy production 0 -882 0 -695 -695 -1,577 Moorshield Wind Farm Limited UK - 100% PwC Wind energy production 0 -654 0 -613 -613 -1,266 Drummarnock Wind Farm Lim- ited UK - 100% PwC Wind energy production 0 -680 0 -666 -666 -1,346 Balmeanach Wind Farm Lim- ited UK - 100% PwC Wind energy production 0 -654 0 -690 -690 -1,344 EDP Renewables Vietnam Co., Ltd. Vietnam - 100% PwC Holding 269 -2,610 0 -274 -274 -2,615 Trung Son En- ergy Development LLC Vietnam - 100% PwC Photovoltaic energy pro- duction 7,349 288 0 325 325 7,962 WF Energy III, Sp. z o.o. Poland - 100% N.A. Wind energy production 1 -8 0 -7 -7 -14 Farma Fotowol- taiczna Koden, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 -26 0 -61 -61 -86 Neo Solar Chot- ków, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 -260 19 -576 -576 -816 Farma Fotowol- taiczna Poland - 100% 1 0 0 -5 -5 -4
204 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Pakosław, Sp. z o.o. Neo Solar Przykona II, Sp. z o.o. Poland - 100% N.A. Photovoltaic energy pro- duction 1 -61 0 -36 -36 -96 Elektrownia Ka- mienica, Sp. z o.o. Poland - 100% N.A. Wind energy production 1 -36 0 -21 -21 -56 FW Warta, Sp. z o.o. Poland - 100% PwC Wind energy production 2 1,637 -8 -1,070 -1,070 561 Neo Solar Farm, Sp. z o.o. Poland - 100% PwC Photovoltaic energy pro- duction 1 -1,299 -39 3,836 3,836 2,500 Budzyn, Sp. z o.o. Poland - 51% PwC Wind energy production 1 -41 0 -21 -21 -61 EDPR Interna- tional Investments, B.V. NL - 100% PwC Holding 20 15,325 0 -5,015 -5,015 10,330 Eolos Energía, S.A.S. E.S.P. Colombia 100% - PwC Wind energy production 14,931 82,834 -3,387 -84,732 -84,732 9,647 Vientos del Norte, S.A.S. E.S.P. Colombia 100% - PwC Wind energy production 10,944 54,105 -3,232 -122,758 -122,758 -60,941 Solar Power So- lutions, S.A.S. E.S.P. Colombia 100% - PwC Photovoltaic energy pro- duction 639 4,222 0 -424 -424 4,437 Elipse Energía, S.A.S. E.S.P. Colombia - 100% N.A. Photovoltaic energy pro- duction 168 -76 0 -567 -567 -475 Omega Energía, S.A.S. E.S.P. Colombia - 100% N.A. Photovoltaic energy pro- duction 168 -42 0 -347 -347 -221 Kappa Energía, S.A.S. E.S.P. Colombia - 100% N.A. Photovoltaic energy pro- duction 168 -55 0 -378 -378 -266 Parque Solar Fotovoltaico El Copey, S.A.S. E.S.P. Colombia 100% - N.A. 301 -557 0 -886 -886 -1,142 Renewables Energy Colom- bia, S.A.S. Colombia - 100% 0 0 0 -826 -826 -826 Gumisan Wind Power Co., Ltd. South Korea - 100% 995 -4 0 -35 -35 956 Angang Wind Power Corpora- tion South Korea - 100% 796 -4 0 -634 -634 159 OMA Haedori Co., Ltd. South Korea - 75% N.A. Wind energy production 347 -1,201 0 -454 -454 -1,308 EDPR Korea, Ltd. South Korea - 100% N.A. 1,604 -825 0 -1,254 -1,254 -475 Timber Road So- lar Park II LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Timber Road So- lar Park III LLC USA - 100% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 EDPR Scarlet II BESS LLC USA - 100% 27 0 0 -11,784 -11,784 -11,757 Ragsdale Solar II LLC USA - 100% 1 0 0 -1 -1 0 Sweet Acres So- lar Park LLC USA - 100% 0 0 0 0 0 0 New Road Power LLC USA - 100% 0 0 0 -56 -56 -56 Iron Valley Solar Park LLC USA - 100% 0 0 0 0 0 0 Edwardsport Solar Park LLC USA - 100% N.A. 0 0 0 -18 -18 -18 Timber Road II Storage LLC USA - 100% N.A. 0 0 0 0 0 0 Timber Road III Storage LLC USA - 100% N.A. 0 0 0 0 0 0 Top Crop I Stor- age LLC USA - 100% N.A. 0 0 0 0 0 0 Top Crop II Stor- age LLC USA - 100% N.A. 0 0 0 0 0 0 Twin Groves I Storage LLC USA - 100% N.A. 0 0 0 0 0 0 Twin Groves II Storage LLC USA - 100% N.A. 0 0 0 0 0 0 Misenheimer Solar LLC USA - 100% N.A. 39,968 0 0 -7 -7 39,962 Sandrini LandCo LLC USA - 100% 0 0 0 0 0 0 EDPR Northeast Allen Solar Park III LLC USA - 100% 0 0 0 0 0 0 Trolley Barn Storage LLC USA - 100% 0 0 0 0 0 0
205 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Azalea Springs Solar Park LLC USA - 100% N.A. 20,199 -6 -1,320 -5 -5 18,868 Calemen Solar Park LLC USA - 100% N.A. 141,050 -1,120 -604 -3,662 -3,662 135,664 Duff Solar Park II LLC USA - 100% N.A. 0 0 0 -2 -2 -2 EDPR Northeast Allen Solar Park LLC USA - 100% N.A. 1,394 0 0 -1 -1 1,393 Indiana Cross- roads Solar Park II LLC USA - 100% N.A. 0 0 0 -5 -5 -5 RTSW Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 RTSW Solar Park II LLC USA - 100% N.A. 0 0 0 0 0 0 RTSW Solar Park III LLC USA - 100% N.A. 0 0 0 0 0 0 RTSW Solar Park IV LLC USA - 100% N.A. 0 0 0 0 0 0 RTSW Solar Park V LLC USA - 100% N.A. 0 0 0 0 0 0 RTSW Solar Park VI LLC USA - 100% N.A. 0 0 0 0 0 0 EDPR Solar Ven- tures V LLC USA - 100% N.A. 36,215 14,210 0 1,544 1,544 51,969 Goldfinger Ven- tures III LLC USA - 100% N.A. 0 0 0 0 0 0 Alabama Solar Park LLC USA - 100% N.A. 3,617 0 0 -6 -6 3,611 Blackford County Solar Park LLC USA - 100% N.A. 1 0 0 -3 -3 -1 Solar Ventures Purchasing LLC USA - 100% N.A. -22,685 21,920 0 -1 -1 -767 Esker Solar Park LLC USA - 100% N.A. 161 0 0 0 0 161 EDPR Solar Ven- tures III LLC USA - 100% N.A. 64,046 13,932 0 4,724 4,724 82,703 Greenbow Solar Park LLC USA - 100% N.A. 1 0 0 -90 -90 -89 Holly Hill Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Pleasantville So- lar Park LLC USA - 100% N.A. 2,307 -2 0 0 0 2,305 Mineral Springs Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 EDPR Solar Ven- tures IV LLC USA - 100% N.A. 75,052 25,061 0 8,722 8,722 108,835 Black Prairie So- lar Park LLC USA - 100% N.A. 1,514 0 0 0 0 1,514 Duff Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Eastmill Solar Park LLC USA - 100% N.A. 1 0 0 -1 -1 0 Lowland Solar Park LLC USA - 100% N.A. 15 -10 0 -9 -9 -4 Moonshine Solar Park LLC USA - 100% N.A. 1,627 -1 0 0 0 1,626 Sedge Meadow Solar Park LLC USA - 100% N.A. 0 0 0 -26 -26 -26 Helena Harbor Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Headwaters Wind Farm III LLC USA - 100% N.A. 4,990 0 21,625 -3 -3 26,613 Loki Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Leprechaun So- lar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Lile Brook Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 EDPR Wind Ven- tures XX LLC USA - 100% N.A. -84,216 129,466 -17,238 732 732 28,743 EDPR Wind Ven- tures XXI LLC USA - 100% N.A. 120,969 12,637 0 8,760 8,760 142,365 2019 Vento XXI LLC USA - 100% PwC 241,610 -238 0 -436 -436 240,936 Bright Stalk Solar Park LLC USA - 100% N.A. 1 0 0 -3 -3 -2 Crossing Trails Wind Power Pro- ject II LLC USA - 100% N.A. 44 -4 0 -88 -88 -47 Headwaters Wind Farm IV LLC USA - 100% N.A. 0 0 0 0 0 0 Tillman Solar Park II LLC USA - 100% N.A. 0 0 0 0 0 0
206 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Indiana Cross- roads Wind Ventures LLC USA - 100% N.A. 0 0 0 -12 -12 -12 Riverstart Solar Park VI LLC USA - 100% N.A. 0 0 0 0 0 0 EDPR NA Shelby Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 EDPR Northeast Allen Solar Park II LLC USA - 100% N.A. 1 0 0 -2 -2 -2 Blackford County Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 EDPR Wind Ven- tures XXII LLC USA - 100% N.A. 332,825 26,086 0 21,553 21,553 380,464 2020 Vento XXII LLC USA - 100% PwC 901,896 -4,659 0 -2,710 -2,710 894,527 Rosewater Ven- tures LLC USA - 100% N.A. 0 0 0 0 0 0 Crescent Bar Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Esker Solar Park II LLC USA - 100% N.A. 0 0 0 0 0 0 Bluebird Prairie Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Tillman Solar Park LLC USA - 100% N.A. 0 0 0 -2 -2 -2 RE Scarlet LLC USA - 100% N.A. 106,564 -14,118 0 -17,825 -17,825 74,621 Eólica de Coa- huila, S.A. de C.V. Mexico - 51% PwC 7,052 33,121 2,605 2,281 2,281 45,058 Vientos de Coa- huila, S.A. de C.V. Mexico - 100% N.A. 131,760 -6,395 0 -6,059 -6,059 119,306 EDPR Servicios de México, S. de R.L. de C.V. Mexico - 100% N.A. 8,940 -2,540 0 267 267 6,667 Parque Solar Los Cuervos, S. de R.L. de C.V. Mexico - 100% N.A. 163,117 5,881 0 8,199 8,199 177,198 Lumberjack Storage LLC USA - 100% 0 0 0 0 0 0 Buffalo Lick So- lar Park LLC USA - 100% 0 0 0 0 0 0 Winding Canyon Wind LLC USA - 100% 0 0 0 0 0 0 Prospector Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Rye Patch Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Loblolly Hill Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Meadow Lake Wind Farm VIII LLC USA - 100% N.A. 0 0 0 -29 -29 -29 Loyal Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Marathon Wind Farm LLC USA - 100% N.A. 3,522 -24 0 0 0 3,498 EDPR Wind Ven- tures XIX LLC USA - 100% N.A. -84,200 103,561 -4,091 3,578 3,578 18,849 Cielo Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Quilt Block Wind Farm II LLC USA - 100% N.A. 1 0 0 -1 -1 0 Shullsburg Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Loma de la Glo- ria Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Wrangler Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 San Clemente Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Wildcat Creek Wind Farm LLC USA - 100% N.A. 238,837 -2,040 0 -2,194 -2,194 234,603 Indiana Cross- roads Wind Farm II LLC USA - 100% N.A. 77,618 -40 0 649 649 78,227 Bayou Bend So- lar Park LLC USA - 100% N.A. 897 0 0 0 0 897 Poplar Camp Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Avondale Solar Park LLC USA - 100% N.A. 2,141 -3 0 3 3 2,141 EDPR Wind Ven- tures XVIII LLC USA - 100% N.A. 135,043 40,894 0 15,101 15,101 191,039
207 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL 2018 Vento XVIII LLC USA - 100% PwC 368,105 -533 0 -158 -158 367,414 Coldwater Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Sweet Stream Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Blue Harvest So- lar Park LLC USA - 100% N.A. 42,176 -201 3,634 167 167 45,775 EDPR Solar Ven- tures II LLC USA - 100% N.A. 46,474 31,507 0 113 113 78,094 2017 Sol II LLC USA - 100% PwC 92,908 -175 0 -53 -53 92,680 Cameron Solar LLC USA - 100% PwC 30,054 341 0 -85 -85 30,310 Estill Solar I LLC USA - 100% PwC 33,071 -108 0 -406 -406 32,557 Hampton Solar II LLC USA - 100% PwC 29,931 1,473 0 -161 -161 31,242 EDPR Wind Ven- tures XVII LLC USA - 100% N.A. -155,993 189,657 0 5,927 5,927 39,591 Franklin Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Paulding Wind Farm IV LLC USA - 100% N.A. 186,396 -12,019 -44,246 -272 -272 129,858 Rush County Wind Farm LLC USA - 100% N.A. 2,643 0 0 0 0 2,643 EDPR South Ta- ble LLC USA - 100% N.A. 0 0 0 0 0 0 Casa Grande Carmel Solar LLC USA - 100% N.A. 0 0 0 0 0 0 Paulding Wind Farm V LLC USA - 100% N.A. 0 0 0 0 0 0 Headwaters Wind Farm II LLC USA - 100% N.A. 233,624 -6,221 -63,392 5,053 5,053 169,064 Waverly Wind Farm II LLC USA - 100% N.A. 0 0 0 0 0 0 Spruce Ridge Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Reloj del Sol Wind Farm LLC USA - 100% N.A. 282,855 -28,545 0 -2,242 -2,242 252,067 2016 Vento XV LLC USA - 100% PwC 400,364 -708 0 -307 -307 399,349 2016 Vento XVI LLC USA - 100% PwC 119,901 -674 0 -158 -158 119,070 EDPR Wind Ven- tures XV LLC USA - 100% N.A. 100,799 73,342 0 18,221 18,221 192,362 EDPR Wind Ven- tures XVI LLC USA - 100% N.A. 42,489 12,779 0 4,792 4,792 60,060 Blue Marmot I LLC USA - 100% N.A. 0 0 0 0 0 0 Blue Marmot II LLC USA - 100% N.A. 0 0 0 0 0 0 Drake Peak Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Blue Marmot IV LLC USA - 100% N.A. 0 0 0 0 0 0 Blue Marmot V LLC USA - 100% N.A. 0 0 0 0 0 0 Blue Marmot VI LLC USA - 100% N.A. 0 0 0 0 0 0 Blue Marmot VII LLC USA - 100% N.A. 0 0 0 0 0 0 Blue Marmot VIII LLC USA - 100% N.A. 0 0 0 0 0 0 Blue Marmot IX LLC USA - 100% N.A. 3,706 -4 0 0 0 3,702 Blue Marmot So- lar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Blue Marmot XI LLC USA - 100% N.A. 0 0 0 0 0 0 Horse Mountain Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Riverstart Solar Park II LLC USA - 100% N.A. 0 0 0 -2 -2 -2 Hidalgo Wind Farm II LLC USA - 100% N.A. 61,901 4,500 -20,817 -6,167 -6,167 39,417 Long Hollow Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Castle Valley Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 White Stone So- lar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Riverstart Solar Park III LLC USA - 100% N.A. 51,371 -535 2,463 -3,107 -3,107 50,192 Dry Creek Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0
208 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Riverstart Solar Park IV LLC USA - 100% N.A. 6,761 -686 3,410 976 976 10,461 Riverstart Solar Park V LLC USA - 100% N.A. 1 0 0 -30 -30 -29 Timber Road So- lar Park LLC USA - 100% N.A. 43,025 -167 3,531 151 151 46,539 Paulding Wind Farm VI LLC USA - 100% N.A. 0 0 0 0 0 0 Renville County Wind Farm LLC USA - 100% N.A. 1,778 0 0 -1 -1 1,777 EDPR CA Solar Park LLC USA - 100% N.A. 193,485 -683 0 -330 -330 192,472 EDPR CA Solar Park II LLC USA - 100% N.A. 101,640 -713 0 -5,434 -5,434 95,493 EDPR CA Solar Park III LLC USA - 100% N.A. 10,783 -39 0 -1 -1 10,743 EDPR CA Solar Park IV LLC USA - 100% N.A. 0 0 0 0 0 0 EDPR CA Solar Park V LLC USA - 100% N.A. 1 0 0 -10 -10 -9 EDPR CA Solar Park VI LLC USA - 100% N.A. 12,551 -285 0 -4 -4 12,262 EDP Renewables North America LLC USA 100% - PwC 6,718,929 -757,251 34,503 -32,998 -32,998 5,963,182 Wind Turbine Prometheus LP USA - 100% N.A. 5 -5 0 0 0 0 Lost Lakes Wind Farm LLC USA - 100% N.A. 101,432 -8,454 0 -1,498 -1,498 91,479 Whitestone Wind Purchas- ing LLC USA - 100% N.A. 124,645 29,618 0 -4,687 -4,687 149,577 Blue Canyon Windpower V LLC USA - 51% PwC -11,694 98,368 0 4,935 4,935 91,609 Sagebrush Power Partners LLC USA - 100% PwC 122,117 -4,998 0 -37 -37 117,083 Marble River LLC USA - 100% N.A. 165,370 40,025 0 -4,677 -4,677 200,717 Blackstone Wind Farm LLC USA - 100% N.A. 64,001 8,589 0 822 822 73,412 Aroostook Wind Energy LLC USA - 100% N.A. 43,531 -4,930 0 -43 -43 38,559 Jericho Rise Wind Farm LLC USA - 100% PwC 99,944 13,296 0 1,981 1,981 115,220 Martinsdale Wind Farm LLC USA - 100% N.A. 4,772 -468 0 -1 -1 4,302 Signal Hill Wind Power Project LLC USA - 100% N.A. 4 -4 0 0 0 0 Tumbleweed Wind Power Pro- ject LLC USA - 100% N.A. 4 -4 0 0 0 0 Stinson Mills Wind Farm LLC USA - 100% N.A. 4,257 -90 0 0 0 4,167 OPQ Property LLC USA - 100% N.A. -184 184 0 0 0 0 Meadow Lake Wind Farm LLC USA - 100% N.A. 155,424 -16,580 0 -2,299 -2,299 136,546 Wheat Field Wind Power Pro- ject LLC USA - 51% PwC -38,303 86,283 0 5,228 5,228 53,208 High Trail Wind Farm LLC USA - 100% PwC 99,761 80,297 0 -3,816 -3,816 176,242 Madison Windpower LLC USA - 100% PwC 18,014 -14,769 0 -851 -851 2,394 Mesquite Wind LLC USA - 100% PwC 85,364 65,572 0 -10,793 -10,793 140,143 BC2 Maple Ridge Wind LLC USA - 100% PwC 243,268 -140,469 0 -9,186 -9,186 93,613 Blue Canyon Windpower II LLC USA - 100% PwC 252,513 -54,323 0 -7,370 -7,370 190,820 Telocaset Wind Power Partners LLC USA - 51% PwC -29,012 97,326 202 8,032 8,032 76,548 Post Oak Wind LLC USA - 51% PwC 91,872 75,868 0 -13,344 -13,344 154,396 High Prairie Wind Farm II LLC USA - 51% PwC 32,736 34,977 244 1,841 1,841 69,799 Old Trail Wind Farm LLC USA - 51% PwC 57,079 113,855 1,592 10,222 10,222 182,748 Cloud County Wind Farm LLC USA - 51% PwC 93,909 52,427 0 3,878 3,878 150,213 Pioneer Prairie Wind Farm I LLC USA - 51% PwC 114,104 137,232 5,062 11,774 11,774 268,173
209 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Arlington Wind Power Project LLC USA - 51% PwC 37,320 40,652 0 3,691 3,691 81,664 Rail Splier Wind Farm LLC USA - 100% PwC 168,895 -57,370 0 -4,668 -4,668 106,858 Meadow Lake Wind Farm II LLC USA - 100% PwC 123,928 -21,008 0 -3,959 -3,959 98,961 Black Prairie Wind Farm LLC USA - 100% N.A. 1,071 -2 0 0 0 1,069 Meadow Lake Wind Farm IV LLC USA - 100% N.A. 73,923 -6,718 0 -273 -273 66,932 Blackstone Wind Farm II LLC USA - 100% N.A. 145,630 19,238 0 146 146 165,014 Saddleback Wind Power Pro- ject LLC USA - 100% N.A. 1,226 -1,222 0 0 0 4 Meadow Lake Wind Farm III LLC USA - 100% N.A. 71,202 9,981 0 1,521 1,521 82,704 2007 Vento I LLC USA - 100% PwC 431,306 53,527 0 627 627 485,461 2007 Vento II LLC USA - 51% PwC 157,794 -5,258 0 -191 -191 152,344 2008 Vento III LLC USA - 51% PwC 251,220 -6,297 0 -82 -82 244,841 2009 Vento V LLC USA - 51% PwC -10,492 -1,207 0 -26 -26 -11,725 Horizon Wind Ventures I LLC USA - 100% N.A. -21,556 430,285 0 179 179 408,908 Horizon Wind Ventures III LLC USA - 51% N.A. -59,918 46,117 0 444 444 -13,357 Clinton County Wind Farm LLC USA - 100% N.A. 165,377 -7 0 0 0 165,370 Antelope Ridge Wind Power Pro- ject LLC USA - 100% N.A. 11,610 -11,610 0 0 0 0 Lexington Chenoa Wind Farm II LLC USA - 100% N.A. 2,332 -544 0 0 0 1,787 Blackstone Wind Farm III LLC USA - 100% N.A. 5,679 -5,679 0 0 0 0 Paulding Wind Farm LLC USA - 100% N.A. 33 -32 0 -3 -3 -2 Paulding Wind Farm II LLC USA - 51% PwC 27,406 68,140 0 7,549 7,549 103,095 Waverly Wind Farm LLC USA - 51% PwC 182,489 33,247 0 3,681 3,681 219,416 Blue Canyon Windpower VI LLC USA - 100% PwC 81,130 12,198 0 -9,702 -9,702 83,626 Paulding Wind Farm III LLC USA - 100% PwC 118,906 22,342 0 3,563 3,563 144,811 2011 Vento IX LLC USA - 51% PwC 28,716 -1,294 0 -130 -130 27,292 Horizon Wind Ventures IX LLC USA - 51% N.A. -5,927 114 0 1,692 1,692 -4,121 EDPR Vento IV Holding LLC USA - 100% PwC 112,850 17,117 0 0 0 129,967 Headwaters Wind Farm LLC USA - 51% PwC 155,507 80,970 0 9,166 9,166 245,642 Lone Valley So- lar Park I LLC USA - 50% PwC 18,354 2,120 0 490 490 20,963 Lone Valley So- lar Park II LLC USA - 50% PwC 29,074 8,276 0 1,609 1,609 38,960 Rising Tree Wind Farm LLC USA - 51% PwC 55,301 52,299 0 7,732 7,732 115,333 Arbuckle Moun- tain Wind Farm LLC USA - 51% PwC 123,971 -9,789 0 2,509 2,509 116,691 Hidalgo Wind Farm LLC USA - 100% PwC 313,186 -1,155 8,878 -28,951 -28,951 291,958 Rising Tree Wind Farm III LLC USA - 51% PwC 87,613 51,366 0 6,155 6,155 145,134 Rising Tree Wind Farm II LLC USA - 51% PwC 17,437 6,940 0 520 520 24,897 Wheat Field Holding LLC USA - 51% PwC -38,167 -124 0 -37 -37 -38,329 EDPR WF LLC USA - 100% N.A. 41,310 0 0 0 0 41,310 Sustaining Power Solutions LLC USA - 100% N.A. 167,199 -138,447 -923 -5,302 -5,302 22,527 Green Power Offsets LLC USA - 100% N.A. 10 -10 0 0 0 0 Arkwright Sum- mit Wind Farm LLC USA - 100% PwC 149,636 10,205 -1,245 -274 -274 158,321
210 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Randolph Solar Park LLC USA - 100% 66,454 -131 0 -82 -82 66,241 EDPR Vento I Holding LLC USA - 100% N.A. 211,925 0 0 0 0 211,925 Turtle Creek Wind Farm LLC USA - 100% PwC 218,002 20,251 0 3,757 3,757 242,010 Rio Blanco Wind Farm LLC USA - 100% N.A. 2,813 -1 0 0 0 2,813 BC2 Maple Ridge Holdings LLC USA - 100% N.A. 0 0 0 0 0 0 Plum Nellie Wind Farm LLC USA - 100% N.A. 4,099 -57 0 4 4 4,046 Five-Spot LLC USA - 100% N.A. 0 0 0 0 0 0 Horizon Wind Chocolate Bayou I LLC USA - 100% N.A. 0 0 0 0 0 0 Alabama Ledge Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Ashford Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Athena-Weston Wind Power Pro- ject LLC USA - 100% N.A. 0 0 0 0 0 0 Lexington Chenoa Wind Farm III LLC USA - 100% N.A. 0 0 0 0 0 0 Blackstone Wind Farm IV LLC USA - 100% N.A. 0 0 0 0 0 0 WTP Manage- ment Company LLC USA - 100% N.A. 0 0 0 0 0 0 Blackstone Wind Farm V LLC USA - 100% N.A. 0 0 0 0 0 0 Blue Canyon Windpower III LLC USA - 100% N.A. 0 0 0 0 0 0 Blue Canyon Windpower IV LLC USA - 100% N.A. 0 0 0 0 0 0 Broadlands Wind Farm II LLC USA - 100% N.A. 0 0 0 0 0 0 Broadlands Wind Farm III LLC USA - 100% N.A. 0 0 0 0 0 0 Chateaugay River Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Cropsey Ridge Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 EDPR Wind Ven- tures XI LLC USA - 51% N.A. 6,191 65,741 0 13,253 13,253 85,185 EDPR Wind Ven- tures XII LLC USA - 51% N.A. 19,842 11,903 0 4,946 4,946 36,691 EDPR Wind Ven- tures XIII LLC USA - 51% N.A. 59,064 45,882 0 11,435 11,435 116,382 EDPR Wind Ven- tures XIV LLC USA - 51% N.A. 21,762 48,616 0 13,896 13,896 84,274 Crossing Trails Wind Power Pro- ject LLC USA - 100% N.A. 137,971 -3,605 0 -4,950 -4,950 129,416 Dairy Hills Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Diamond Power Partners LLC USA - 100% N.A. 0 0 0 0 0 0 East Klickitat Wind Power Pro- ject LLC USA - 100% N.A. 0 0 0 0 0 0 Ford Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Gulf Coast Windpower Management Company LLC USA - 75% N.A. 0 0 0 0 0 0 Horizon Wind Energy North- west IV LLC USA - 100% N.A. 0 0 0 0 0 0 Horizon Wind Energy North- west VII LLC USA - 100% N.A. 229 -135 0 -241 -241 -146 Horizon Wind Energy North- west X LLC USA - 100% N.A. 0 0 0 0 0 0 Horizon Wind Energy North- west XI LLC USA - 100% N.A. 0 0 0 0 0 0 Horizon Wind Energy Panhan- dle I LLC USA - 100% N.A. 0 0 0 0 0 0
211 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Horizon Wind Energy South- west I LLC USA - 100% N.A. 0 0 0 0 0 0 Horizon Wind Energy South- west II LLC USA - 100% N.A. 0 0 0 0 0 0 Horizon Wind Energy South- west III LLC USA - 100% N.A. 0 0 0 0 0 0 Horizon Wind Energy South- west IV LLC USA - 100% N.A. 0 0 0 0 0 0 Horizon Wind Energy Valley I LLC USA - 100% N.A. 0 0 0 0 0 0 Horizon Wind MREC Iowa Partners LLC USA - 75% N.A. 0 0 0 0 0 0 Horizon Wind Freeport Windpower I LLC USA - 100% N.A. 0 0 0 0 0 0 Juniper Wind Power Partners LLC USA - 100% N.A. 0 0 0 0 0 0 Machias Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Blue Canyon Windpower VII LLC USA - 100% N.A. 0 0 0 0 0 0 New Trail Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 North Slope Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Number Nine Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Pacific South- west Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Horizon Wyo- ming Transmission LLC USA - 100% N.A. 0 0 0 0 0 0 Buffalo Bluff Wind Farm LLC USA - 100% N.A. 4,794 -1 0 0 0 4,793 Sardinia Windpower LLC USA - 100% N.A. 0 0 0 0 0 0 Rail Splier Wind Farm II LLC USA - 100% N.A. 1,909 0 0 0 0 1,909 Western Trail Wind Project I LLC USA - 100% N.A. 4,140 0 0 -4,145 -4,145 -5 Whistling Wind WI Energy Cen- ter LLC USA - 100% N.A. 0 0 0 0 0 0 Simpson Ridge Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Coos Curry Wind Power Project LLC USA - 100% N.A. 0 0 0 0 0 0 Horizon Wind Energy Midwest IX LLC USA - 100% N.A. 0 0 0 0 0 0 Horizon Wind Energy North- west I LLC USA - 100% N.A. 0 0 0 0 0 0 AZ Solar LLC USA - 100% N.A. 0 0 0 0 0 0 Peterson Power Partners LLC USA - 100% N.A. 0 0 0 0 0 0 Big River Wind Power Project LLC USA - 100% N.A. 1 0 0 -1 -1 0 Tug Hill Windpower LLC USA - 100% N.A. 0 0 0 0 0 0 Whiskey Ridge Power Partners LLC USA - 100% N.A. 0 0 0 0 0 0 Wilson Creek Power Project LLC USA - 100% N.A. 0 0 0 0 0 0 Black Prairie Wind Farm II LLC USA - 100% N.A. 0 0 0 0 0 0 Black Prairie Wind Farm III LLC USA - 100% N.A. 0 0 0 0 0 0 2015 Vento XIV LLC USA - 51% PwC 183,330 -755 0 -138 -138 182,438 Simpson Ridge Wind Farm II LLC USA - 100% N.A. 0 0 0 0 0 0
212 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Simpson Ridge Wind Farm III LLC USA - 100% N.A. 0 0 0 0 0 0 Simpson Ridge Wind Farm IV LLC USA - 100% N.A. 0 0 0 0 0 0 Simpson Ridge Wind Farm V LLC USA - 100% N.A. 0 0 0 0 0 0 Athena-Weston Wind Power Pro- ject II LLC USA - 100% N.A. 0 0 0 0 0 0 17th Star Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 Green Country Wind Farm LLC USA - 100% N.A. 0 0 0 0 0 0 2014 Vento XI LLC USA - 51% PwC 154,155 -102 0 -61 -61 153,992 EDPR Solar Ven- tures I LLC USA - 50% N.A. 23,546 20,789 0 133 133 44,468 2014 Sol I LLC USA - 50% PwC 48,150 -660 0 -106 -106 47,384 2014 Vento XII LLC USA - 51% PwC 72,863 -120 0 -46 -46 72,697 Rolling Upland Wind Farm LLC USA - 100% N.A. 1 0 0 -1 -1 0 2015 Vento XIII LLC USA - 51% PwC 211,939 -986 0 -180 -180 210,774 EDP Renewables SH Project Lim- ited Partnership Canada - 100% N.A. 105,824 -2,432 -2,807 -465 -465 100,120 EDP Renewables Canada Ltd. Canada 100% - N.A. 198,301 -5,623 -112 -3,475 -3,475 189,092 SBWF GP Inc. Canada - 51% N.A. 0 1 0 0 0 0 South Dundas Windfarm Lim- ited Partnership Canada - 51% PwC -6,455 27,904 828 2,657 2,657 24,934 Nation Rise Wind Farm GP Inc. Canada - 100% PwC 1 -24 0 -6 -6 -29 Nation Rise Wind Farm Lim- ited Partnership Canada - 50% N.A. 50,980 3,031 4,010 -1,018 -1,018 57,003 South Branch Wind Farm II GP Inc. Canada - 100% N.A. 0 0 0 0 0 0 South Branch Wind Farm II Limited Partner- ship Canada - 100% N.A. 835 -499 0 -7 -7 330 EDP Renewables SH Project GP Ltd. Canada - 100% N.A. 11 -2 0 -8 -8 1 EDP Renováveis Brasil, S.A. Brazil 100% - PwC 722,941 47,197 -2,975 58,160 58,160 825,323 Central Nacional de Energia Eólica, S.A. Brazil - 51% PwC 2,312 257 0 942 942 3,511 Elebrás Projetos, S.A. Brazil - 51% PwC 19,355 -1,597 0 13,002 13,002 30,760 Central Eólica Baixa do Feijão I, S.A. Brazil - 51% PwC 7,314 2,327 0 120 120 9,761 Central Eólica Baixa do Feijão II, S.A. Brazil - 51% PwC 7,563 2,733 0 -138 -138 10,158 Central Eólica Baixa do Feijão III, S.A. Brazil - 51% PwC 12,574 -203 0 -756 -756 11,615 Central Eólica Baixa do Feijão IV, S.A. Brazil - 51% PwC 8,287 1,230 0 -408 -408 9,108 Central Eólica JAU, S.A. Brazil - 51% PwC 32,461 10,476 0 346 346 43,283 Central Eólica Aventura I, S.A. Brazil - 51% PwC 15,233 838 0 -369 -369 15,703 Central Eólica Asas de Zabelê I, S.A. Brazil - 100% N.A. 0 0 0 0 0 0 Central Eólica Asas de Zabelê II, S.A. Brazil - 100% N.A. 0 0 0 0 0 0 Monte Verde Holding, S.A. Brazil - 100% PwC 70,476 -4,635 0 3,318 3,318 69,159 Central Eólica Monte Verde I, S.A. Brazil - 100% PwC 14,949 -1,858 0 4,713 4,713 17,805 Central Eólica Monte Verde II, S.A. Brazil - 100% PwC 14,949 -967 0 -1,398 -1,398 12,584
213 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Central Eólica Monte Verde III, S.A. Brazil - 100% PwC 13,081 -861 0 -448 -448 11,772 Central Eólica Monte Verde IV, S.A. Brazil - 100% PwC 10,278 -705 0 580 580 10,152 Central Eólica Monte Verde V, S.A. Brazil - 100% PwC 7,475 -495 0 -223 -223 6,757 Central Eólica Monte Verde VI, S.A. Brazil - 100% PwC 9,755 -588 0 104 104 9,271 Central Gera- dora Fotovoltaica Monte Verde So- lar II, S.A. Brazil - 100% PwC 8,528 -8 -81 -66 -66 8,374 Central Gera- dora Fotovoltaica Monte Verde So- lar III, S.A. Brazil - 100% PwC 8,528 -7 -81 -101 -101 8,340 Central Gera- dora Fotovoltaica Monte Verde So- lar IV, S.A. Brazil - 100% PwC 8,528 -8 -81 -17 -17 8,423 Central Eólica Asas de Zabelê III, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Solar Pereira Barreto I, S.A. Brazil - 100% PwC 21,300 1,155 0 1,455 1,455 23,910 Central Solar Pereira Barreto II, S.A. Brazil - 100% PwC 19,981 1,294 0 1,437 1,437 22,712 Central Solar Pereira Barreto III, S.A. Brazil - 100% PwC 31,816 847 0 1,057 1,057 33,721 Central Solar Pereira Barreto IV, S.A. Brazil - 100% PwC 21,671 472 0 1,336 1,336 23,480 Central Solar Pereira Barreto V, S.A. Brazil - 100% PwC 21,992 -539 0 1,125 1,125 22,577 Central Solar Lagoa I, S.A. Brazil - 100% PwC 446 -30 0 -28 -28 388 Central Solar Lagoa II, S.A. Brazil - 100% PwC 412 -30 0 -27 -27 355 Central Gera- dora Fotovoltaica Monte Verde So- lar V, S.A. Brazil - 100% PwC 8,528 -8 -81 -111 -111 8,329 Central Gera- dora Fotovoltaica Monte Verde So- lar VII, S.A. Brazil - 100% PwC 11,134 -6 -81 -321 -321 10,726 Central Eólica Amanhecer I, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Eólica Amanhecer II, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Eólica Amanhecer III, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 EDP Renewables Canada Man- agement Services Ltd. Canada - 100% N.A. -2,599 0 0 0 0 -2,599 Bromhead Solar Park GP Ltd. Canada - 100% N.A. 0 0 0 0 0 0 Bromhead Solar Park Limited Partnership Canada - 100% N.A. 0 -253 0 -1 -1 -254 Halbrite Solar Park GP Ltd. Canada - 100% N.A. 0 0 0 0 0 0 Halbrite Solar Park Limited Partnership Canada - 100% N.A. 0 -253 0 -1 -1 -254 Blue Bridge Solar Park GP Ltd. Canada - 100% N.A. 0 0 0 0 0 0 Blue Bridge Solar Park Limited Partnership Canada - 100% N.A. 0 -253 0 -21 -21 -274 EDP Renewables SH II Project GP Ltd. Canada - 100% N.A. 0 0 0 0 0 0 EDP Renewables SH II Project Lim- ited Partnership Canada - 100% N.A. 0 0 0 0 0 0
214 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Sounding Creek Solar Park GP Ltd. Canada - 100% N.A. 0 0 0 0 0 0 Sounding Creek Solar Park Lim- ited Partnership Canada - 100% N.A. 0 0 0 0 0 0 Edgeware BESS Project GP Ltd. Canada - 100% N.A. 0 0 0 0 0 0 Edgeware BESS Project Limited Partnership Canada - 50% N.A. 0 0 0 0 0 0 South Branch BESS Project GP Ltd. Canada - 100% 0 0 0 0 0 0 South Branch BESS Project Limited Partner- ship Canada - 100% 0 0 0 0 0 0 Central Eólica Asas de Zabelê IV, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Solar Zebu I, S.A. Brazil - 100% N.A. 671 -90 0 -1 -1 580 Central Solar Zebu II, S.A. Brazil - 100% N.A. 0 0 0 0 0 0 Central Solar Zebu III, S.A. Brazil - 100% N.A. 0 0 0 0 0 0 Central Solar Zebu IV, S.A. Brazil - 100% N.A. 0 0 0 0 0 0 Central Solar Zebu V, S.A. Brazil - 100% N.A. 0 0 0 0 0 0 Central Solar Zebu VI, S.A. Brazil - 100% N.A. 0 0 0 0 0 0 Central Eólica Amanhecer IV, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Eólica Amanhecer V, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Eólica Amanhecer VI, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Eólica Amanhecer VII, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Eólica Catanduba I, S.A. Brazil - 100% PwC 8,756 -322 0 22 22 8,456 Central Eólica Catanduba II, S.A. Brazil - 100% PwC 8,756 -43 0 -84 -84 8,629 Central Solar Novo Oriente I, S.A. Brazil - 100% PwC 10,995 -9 -1,965 -19 -19 9,001 Central Solar Novo Oriente II, S.A. Brazil - 100% PwC 10,010 -9 -2,191 -17 -17 7,793 Central Solar Novo Oriente III, S.A. Brazil - 100% PwC 10,789 -9 0 -37 -37 10,743 Central Solar Novo Oriente IV, S.A. Brazil - 100% PwC 8,102 -5 0 -73 -73 8,024 Central Solar Novo Oriente V, S.A. Brazil - 100% PwC 14,575 -5 0 -131 -131 14,440 Central Solar Novo Oriente VI, S.A. Brazil - 100% PwC 4,252 -5 -345 -96 -96 3,807 EDP Renewables UK Limited UK - 100% PwC 9 -3,465 0 -3,224 -3,224 -6,680 Muirake Wind Farm Ltd UK - 79% PwC 0 1,586 0 1,502 1,502 3,088 Lurg Hill Wind Farm Ltd UK - 100% N.A. 0 -756 0 -314 -314 -1,070 Harrington Franklin Limited UK - 100% 611 -611 0 0 0 0 Balnacraig Bat- tery Storage Limited UK - 100% 0 0 0 0 0 0 Solar Italy I, S.r.l. Italy - 100% N.A. 10 889 2,766 -495 -495 3,169 Solar Italy II, S.r.l. Italy - 100% N.A. 10 859 -83 -174 -174 612 Solar Italy IV, S.r.l. Italy - 100% N.A. 10 917 2,266 -370 -370 2,822 Solar Italy XXIII, S.r.l. Italy - 100% 10 588 -167 -138 -138 293 EDPR Sicilia Quaro, S.r.l. Italy - 100% 10 0 0 -9 -9 1 Serracapriola, S.r.l. Italy - 100% 10 272 0 232 232 513
215 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Wind Energy Castelluccio, S.r.l. Italy - 60% 10 270 0 -99 -99 182 Wind Energy Monte Cavallo, S.r.l. Italy - 51% 10 -5 0 0 0 5 Oxavi 1, S.A.S. Italy - 100% 3 -2 0 0 0 1 Oxavi 2, S.A.S. Italy - 100% 3 -2 0 0 0 1 EDP Renewables Chile, SpA Chile 100% - PwC 10,825 -1,654 0 -2,557 -2,557 6,613 Los Llanos Solar, SpA Chile - 100% N.A. 1 -982 0 -576 -576 -1,557 Parque Eólico Punta de Talca, SpA Chile - 100% PwC 324 -2,322 0 -2,306 -2,306 -4,304 Parque Eólico San Andrés, SpA Chile - 100% N.A. 397 -1,104 0 -4,563 -4,563 -5,270 Parque Eólico Victoria, SpA Chile - 100% N.A. 1,187 -1,778 0 -510 -510 -1,101 Vientos de Taltal, SpA Chile - 100% 1 0 0 0 0 1 Central Eólica Asas de Zabelê V, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Eólica Asas de Zabelê VI, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Eólica Asas de Zabelê VII, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Solar Zebu VII, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Solar Fênix V, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Solar Fênix VI, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Solar Presidente JK I, S.A. Brazil - 100% N.A. 594 -592 0 -2 -2 0 Central Solar Mi- nas do Sol II, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Solar Mi- nas do Sol III, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Solar Mi- nas do Sol IV, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Solar Mi- nas do Sol V, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Solar Mi- nas do Sol VI, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Solar Presidente JK VII, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Solar Mi- nas do Sol VIII, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Solar Fê- nix I, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Solar Fênix II, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Solar Presidente JK XI, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Solar Fênix IV, S.A. Brazil - 100% N.A. 0 0 0 -1 -1 -1 Central Gera- dora Fotovoltaica Monte Verde So- lar I, S.A. Brazil - 100% N.A. 0 0 0 -4 -4 -4 Central Gera- dora Fotovoltaica Monte Verde So- lar VI, S.A. Brazil - 100% N.A. 0 0 0 -4 -4 -4 Wind Farm Debrzno, Sp. z o.o. Poland - 100% 1 0 0 0 0 1 Wind Farm Gniewkowo, Sp. z o.o. Poland - 100% 1 0 0 0 0 1 EDPR Polska Wind, Sp. z o.o. Poland - 100% 1 0 0 0 0 1 EDPR Polska So- lar 2, Sp. z o.o. Poland - 100% 1 0 0 0 0 1 EDPR Polska Storage, Sp. z o.o. Poland - 100% 1 0 0 0 0 1
216 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Ekoenergia Solar 3, Sp. z o.o. Poland - 100% 1 -11 0 -9 -9 -19 CSH Renewa- bles III, Sp. z o.o. Poland - 100% 1 0 0 -48 -48 -47 Farma Fotowol- taiczna Poturzyn, Sp. z o.o. Poland - 100% 1 0 0 -8 -8 -7 Farma Fotowol- taiczna Warta, Sp. z o.o. Poland - 100% N.A. 1 -7 0 -49 -49 -55 Farma Fotowol- taiczna Wielkopolska, Sp. z o.o. Poland - 100% N.A. 1 -2 0 18 18 16 Farma Fotowol- taiczna Radziejów, Sp. z o.o. Poland - 100% N.A. 1 -8 0 -16 -16 -23 Farma Fotowol- taiczna Ujazd, Sp. z o.o. Poland - 100% N.A. 1 -3 0 -14 -14 -16 Farma Fotowol- taiczna Budzyn, Sp. z o.o. Poland - 100% N.A. 1 -2 -26 -12 -12 -39 Farma Fotowol- taiczna Dobrzyca, Sp. z o.o. Poland - 100% N.A. 1 -2 0 -14 -14 -15 Farma Fotowol- taiczna Tomaszów, Sp. z o.o. Poland - 100% N.A. 1 -5 0 -18 -18 -22 EDPR Bora, Kſt. Hungary - 100% 8 0 0 -2 -2 6 EDPR Mistral, Kſt. Hungary - 100% 8 0 0 -2 -2 6 EDPR Sirocco, Kſt. Hungary - 100% 8 0 0 -2 -2 6 EDPR Siesta, Kſt. Hungary - 100% 8 0 0 -2 -2 6 EDPR Pampero, Kſt. Hungary - 100% 8 0 0 -2 -2 6 EDPR Zephyr, Kſt. Hungary - 100% 8 0 0 -2 -2 6 EDP Renewables Germany GmbH Germany - 100% 25 -26 0 -3,807 -3,807 -3,808 Energia Geoide VIII, S.L. Spain - 100% 3 -1 0 0 0 2 ICE Tudela S.L. Spain - 100% 3 0 0 0 0 3 Trung Son SG Pte. Ltd. Singapore 100% - PwC 9,660 -637 0 -168 -168 8,855 LYS Energy In- vestment Pte. Ltd. Singapore - 100% PwC 9,660 -2,039 0 -254 -254 7,367 Sunseap Group Pte. Ltd. Singapore 95% - PwC 469,795 -37,753 0 1,517 1,517 433,560 Sunseap Inter- national Pte. Ltd. Singapore - 100% PwC 37,972 -17,523 0 317 317 20,766 Sunseap Engi- neering Pte. Ltd. Singapore - 100% PwC 1,439 -4,427 -18 -3,578 -3,578 -6,583 Sunseap Leas- ing Pte. Ltd. Singapore - 100% PwC 76,660 380 -593 -1,222 -1,222 75,224 SolarNova Phase 1 Pte. Ltd. Singapore - 100% PwC 0 10,195 0 2,438 2,438 12,633 Sunseap Com- mercial Assets Pte. Ltd. Singapore - 100% PwC 2,609 7,898 222 1,067 1,067 11,796 Sunseap Energy Pte. Ltd. Singapore - 100% PwC 47,258 -42,862 -404 -428 -428 3,563 Sunseap Energy Ventures Pte. Ltd. Singapore - 100% PwC 0 2,430 0 117 117 2,547 Sunseap CMX RE Solar Hold- ings Pte. Ltd. Singapore - 100% PwC 0 13,489 0 1,524 1,524 15,013 Sunseap Links Pte. Ltd. Singapore - 80% PwC 0 -5,355 0 -51 -51 -5,406 Sunseap Links Daklong Pte. Ltd. Singapore - 95% PwC 0 -6,335 0 -32 -32 -6,366 Sunseap China Pte. Ltd. Singapore - 100% PwC 26,931 -171 0 -94 -94 26,666 Sunseap Japan Pte. Ltd. Singapore - 100% PwC 0 -373 0 -29 -29 -401 Sunseap Taiwan Pte. Ltd. Singapore - 100% PwC 0 -250 0 129 129 -121 Sunseap Aus- tralia Holdings Pte. Ltd. Singapore - 100% PwC 0 -3,403 0 -141 -141 -3,544 Sunseap Delta Holdings Pte. Ltd. Singapore - 100% PwC 0 -202 0 -33 -33 -235
217 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL EDPR Sunseap Korea Holdings Pte. Ltd. Singapore - 100% PwC 3,361 -19 0 -251 -251 3,091 Sunseap Gamma Hold- ings Pte. Ltd. Singapore - 100% PwC 0 -18 0 -36 -36 -55 Sunseap Gamma Assets Pte. Ltd. Singapore - 100% PwC 0 -68 0 68 68 0 SolarNova 4 Beta Assets Pte. Ltd. Singapore - 100% PwC 39,541 -768 -6,648 -1,254 -1,254 30,872 Solarland Alpha Assets Pte. Ltd. Singapore - 100% PwC 0 -1,578 -12,600 -294 -294 -14,472 Data4Eco Hold- ings Pte. Ltd. Singapore - 60% PwC 34 -78 0 -24 -24 -68 Sunseap Indo- nesia Pte. Ltd. Singapore - 100% PwC 0 -123 0 54 54 -69 Sunseap Batam Pte. Ltd. Singapore - 100% PwC 0 -188 0 32 32 -156 Energy Democ- racy Management Pty. Ltd. Australia - 100% 0 0 0 0 0 0 Yoogali Solar Farm Pty. Ltd. Ltd. Australia - 100% 0 0 0 0 0 0 Merino Solar Farm Trust Australia - 100% 0 0 0 0 0 0 Orange Com- munity Renewable En- ergy Park Pty. Ltd. Ltd. Australia - 100% 0 14 0 0 0 14 Orange Com- munity Renewable En- ergy Park Trust Australia - 100% 0 0 0 0 0 0 Sunseap (Aus- tralia) Investments Pty. Ltd. Australia - 100% N.A. 1,845 -3,179 0 -1,998 -1,998 -3,333 Sunseap (Aus- tralia) Pty. Ltd. Australia - 100% N.A. 0 -694 0 -12 -12 -707 Sunseap Assets (Australia) Pty. Ltd. Australia - 100% N.A. 12 -12 0 -1 -1 0 ITP Development Pty. Ltd. Australia - 100% 1 -1,119 0 -157 -157 -1,274 ITP-NHT Devco Pty. Ltd. Australia - 100% 1 599 0 -4 -4 595 Merino Solar Farm Pty. Ltd. Australia - 100% 0 -8 0 0 0 -8 Sunseap Solar Cambodia Co., Ltd. Cambodia - 100% N.A. 1 -22 0 22 22 1 Dongying Daoli New Energy Co., Ltd. China - 100% N.A. 483 -4 0 14 14 493 Shanghai Jingwen Equity Investment Cen- ter LP China - 90% PwC 9,196 -264 0 156 156 9,089 Suzhou Xingdao New Energy Technology Co., Ltd. China - 100% N.A. 277 -6 0 13 13 284 State Cloud Sunseap Equity Investment Part- nership LP China - 80% PwC 513 -2 0 -5 -5 506 Yancheng Qingneng Power Technology Co., Ltd. China - 100% N.A. 890 -30 0 45 45 905 Qinghe County Xinou Funeng New Energy Technology Co., Ltd. China - 100% N.A. 426 -2 0 56 56 480 Rongcheng Xingyi New En- ergy Technology Co., Ltd. China - 100% PwC 2,520 -23 0 -34 -34 2,463 Wuhan Panshuo Energy Technol- ogy Co., Ltd. China - 100% N.A. 1,019 -1 0 44 44 1,061 Qingdao Xingqi Energy Co., Ltd. China - 100% N.A. 151 -2 0 19 19 169 Heze Dechen New Energy Co., Ltd. China - 100% N.A. 392 -2 0 -2 -2 389
218 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Weihai Deao New Energy Technology Co., Ltd. China - 100% N.A. 470 -1 0 33 33 503 Hubei Jianghui New Energy Co., Ltd. China - 100% N.A. 1,732 -3 0 -100 -100 1,629 Sunseap China Energy (Qing- dao) Co., Ltd. China - 100% N.A. 5 -1 0 -3 -3 1 Sunseap Energy (Malaysia) Sdn. Bhd. Malaysia - 100% NHT 1,493 -942 0 -598 -598 -47 Sunseap Taiwan Solar Holdings Ltd. Taiwan - 100% PwC 13,458 -870 0 -620 -620 11,969 Pacific Sunseap Energy Ltd. Taiwan - 65% PwC 10,235 -37 0 -9 -9 10,189 Top Green En- ergy Ltd. Taiwan - 65% PwC 10,058 501 0 5 5 10,564 Sunseap Ad- vance Green Technology Ltd. Taiwan - 100% PwC 2,950 64 0 -133 -133 2,881 Sunseap Ad- vance International Ltd. Taiwan - 100% PwC 147 -16 0 -4 -4 127 Shuangjian Pho- toelectric Ltd. Taiwan - 70% PwC 1,534 -48 0 -44 -44 1,442 Hoya Energy Ltd. Taiwan - 100% PwC 5,870 69 -72 157 157 6,024 Sunseap Energy (Thailand) Co., Ltd. Thailand - 96% Thai Info Ltd 1,185 -842 0 -36 -36 306 Thai-Sunseap Co., Ltd. Thailand - 67% Pe- chrungroj Office Co., Ltd 5,947 -674 0 539 539 5,811 CMX RE Sun- seap Vietnam Solar Power Co., Ltd. Vietnam - 55% PwC 39,749 7,670 48 4,365 4,365 51,832 Sunseap Com- mercial & Industrial Assets (Vietnam) Co., Ltd. Vietnam - 100% PwC 4,608 -6,180 0 -7,863 -7,863 -9,435 Sunseap Sun Times Solar In- vestment Co., Ltd. Vietnam - 90% PwC 3,839 -21 0 0 0 3,818 Sunseap KTG Energy Invest- ment Co., Ltd. Vietnam - 59% PwC 205 -11 0 14 14 208 Sun Times 1 En- ergy Co., Ltd. Vietnam - 90% PwC 181 10 0 -12 -12 180 Sun Times 3 En- ergy Co., Ltd. Vietnam - 90% PwC 535 84 0 -29 -29 591 Sun Times 4 En- ergy Co., Ltd. Vietnam - 90% PwC 181 3 0 -15 -15 169 Sun Times 5 En- ergy Co., Ltd. Vietnam - 90% PwC 523 64 0 -40 -40 546 Sun Times 6 En- ergy Co., Ltd. Vietnam - 90% PwC 527 54 0 -48 -48 534 Sun Times 7 En- ergy Co., Ltd. Vietnam - 90% PwC 344 35 0 -39 -39 340 STP5 Energy Production Trading Co., Ltd. Vietnam - 90% PwC 486 86 0 -18 -18 554 STP6 Energy Trading Tech- nical Co., Ltd. Vietnam - 90% PwC 545 78 0 -44 -44 579 STP7 Energy Development Co., Ltd. Vietnam - 90% PwC 168 6 0 -14 -14 161 STP8 Energy In- vestment Co., Ltd. Vietnam - 90% PwC 345 41 0 -21 -21 364 SSKT Beta En- ergy Co., Ltd. Vietnam - 59% PwC 205 71 0 12 12 288 DKT Energy In- vestment Co., Ltd. Vietnam - 100% PwC 3,876 -25 0 -9 -9 3,842 H2A Co., Ltd. Vietnam - 100% PwC 336 -24 0 -39 -39 273 H2HA Co., Ltd. Vietnam - 100% PwC 336 -48 0 -58 -58 230 H2HD Co., Ltd. Vietnam - 100% PwC 336 -59 0 -60 -60 216 H2HO Co., Ltd. Vietnam - 100% PwC 336 -39 0 -50 -50 246 H2HU Co., Ltd. Vietnam - 100% PwC 336 -12 0 -39 -39 285 H2K Co., Ltd. Vietnam - 100% PwC 336 -43 0 -37 -37 255 H2ML Co., Ltd. Vietnam - 100% PwC 336 -21 0 -23 -23 292
219 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL H2O Ben Luc In- vestment Co., Ltd. Vietnam - 100% PwC 254 -1 0 -38 -38 214 H2S Co., Ltd. Vietnam - 100% PwC 336 -28 0 -45 -45 262 H2T Co., Ltd. Vietnam - 100% PwC 336 -54 0 -55 -55 227 H2TR Solar Co., Ltd. Vietnam - 100% PwC 336 -11 0 -39 -39 286 H2VP Co., Ltd. Vietnam - 100% PwC 336 -39 0 -41 -41 256 Uper Renewable Energy Vietnam Co., Ltd. Vietnam - 100% PwC 86 29 0 40 40 155 Xuan Thien Ninh Thuan Co., Ltd. Vietnam - 100% PwC 33,200 5,438 0 3,582 3,582 42,220 Xuan Thien Thuan Bac Co., Ltd. Vietnam - 100% PwC 20,517 1,782 0 1,646 1,646 23,945 Long Dai Phat Investment Co., Ltd. Vietnam - 100% PwC 2,669 -8 0 -2 -2 2,658 Bien Dong En- ergy Investment Co., Ltd. Vietnam - 100% PwC 336 -98 0 -14 -14 224 Kim Cuong En- ergy Investment Co., Ltd. Vietnam - 100% PwC 336 -96 0 -26 -26 214 Phu An Energy Investment Co., Ltd. Vietnam - 100% PwC 336 -101 0 -29 -29 206 Hao Thanh Dat Investment Co., Ltd. Vietnam - 100% PwC 336 -100 0 -16 -16 220 Thiet Thanh Cong Investment Co., Ltd. Vietnam - 100% PwC 336 -98 0 -35 -35 203 Incom Interna- tional Investment and Develop- ment Co., Ltd. Vietnam - 100% PwC 526 1 0 -49 -49 478 Quang Lam Printing Import Export Co., Ltd. Vietnam - 100% PwC 461 44 0 -38 -38 467 Millennium En- ergy Investment Co., Ltd. Vietnam - 100% PwC 2,611 0 0 24 24 2,635 RE Capital Co., Ltd. Japan - 100% N.A. 1,311 -1,687 0 -726 -726 -1,102 Godo Kaisha NW-3 Japan - 100% 1 -4 -208 -1 -1 -213 Miyagi Motoyo- shi Solar GK Japan - 100% 1 0 0 -4 -4 -3 PT Sunseap Commercial In- dustrial Indonesia Asset Indonesia - 99% N.A. 585 -51 0 -122 -122 413 PT Green Corri- dor Indonesia Indonesia - 99% N.A. 585 -355 0 -407 -407 -177 PT Right People Renewable En- ergy Indonesia - 100% KAP Agus Ubaidillah & Rekan 591 -599 0 -24 -24 -33 Sunseap China Energy (Shang- hai) Ltd. China - 100% PwC 25,587 827 0 -2,864 -2,864 23,550 Ningbo Jiangbei Baoyi Enterprise Management Consulting Part- nership LP China - 100% PwC 140 197 0 -166 -166 171 Putian Xingsheng New Energy Co., Ltd. China - 100% 7 0 0 -1 -1 6 Jingmen Xingsheng New Energy Co., Ltd. China - 100% 38 0 0 -3 -3 35 Jiaxing Luken Energy Technol- ogy Co., Ltd. China - 100% 251 0 0 -2 -2 250 Harbin Panshuo Energy Technol- ogy Co., Ltd. China - 100% 13 0 0 -3 -3 9 Jingmen Zhong- bei New Energy Co., Ltd. China - 100% 2,516 0 0 49 49 2,564 Tianjin Pengling Funeng New En- ergy Technology Co., Ltd. China - 100% 387 0 0 0 0 386 Anhui Jinyang New Energy Co., Ltd. China - 100% 547 0 0 -6 -6 541 Tianjin Xingsheng En- ergy China - 100% N.A. 1,079 -2 0 -11 -11 1,067
220 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Development Co., Ltd. Zhenjiang Ruichengda New Energy Co., Ltd. China - 100% N.A. 100 0 0 2 2 102 Dongguan Jiehuang New Energy Technol- ogy Co., Ltd. China - 100% N.A. 1,907 -2 0 254 254 2,159 Tianjin Xingrun Energy Develop- ment Co., Ltd. China - 100% N.A. 0 0 0 0 0 0 Wuxi Lingzhong New Energy Technology Co., Ltd. China - 100% N.A. 1,274 0 0 87 87 1,360 Suzhou Xingyi Energy Engi- neering Co., Ltd. China - 100% N.A. 295 -2 0 16 16 309 Suzhou Lian- song New Energy Technol- ogy Co., Ltd. China - 100% N.A. 748 0 0 3 3 751 Chongqing Xingzhi New En- ergy Technology Co., Ltd. China - 100% N.A. 1,856 0 0 77 77 1,933 Chuzhou Huitai Photovoltaic Power Genera- tion Co., Ltd. China - 100% 2,489 0 0 676 676 3,165 Fengcheng Xingtai New En- ergy Technology Co., Ltd. China - 100% 6 0 0 -3 -3 3 Fangxian Tian- hang New Energy Co., Ltd. China - 100% 1,899 0 0 -810 -810 1,089 Siping Lvsheng Energy Technol- ogy Co., Ltd. China - 100% 382 0 0 -5 -5 377 Jiangsu Xingsheng New Energy Technol- ogy Co., Ltd. China - 100% 167 0 0 -3 -3 164 Changchun Xingsheng Jinhu Photovoltaic New Energy Co., Ltd. China - 100% 0 0 0 0 0 0 Wuhu Xingsheng New Energy Co., Ltd. China - 100% 298 0 0 -3 -3 295 Lam Gia Luat Co., Ltd. Vietnam - 100% 541 -27 0 -50 -50 464 Dai Linh Phat Co., Ltd. Vietnam - 100% 541 39 0 -33 -33 547 HTD Vietnam In- vestment Development Co., Ltd. Vietnam - 100% 336 54 0 -33 -33 356 HTT Binh Duong Investment De- velopment Co., Ltd. Vietnam - 100% 1,119 67 0 -31 -31 1,155 Central Solar Barra I, S.A. Brazil - 100% N.A. 2 0 0 -1 -1 1 Central Solar Barra II, S.A. Brazil - 100% N.A. 2 0 0 -1 -1 1 Central Solar Barra III, S.A. Brazil - 100% N.A. 2 0 0 -1 -1 1 Central Solar Barra IV, S.A. Brazil - 100% N.A. 2 0 0 -1 -1 1 Central Eólica Itaúna III, S.A. Brazil - 100% 0 0 0 -28 -28 -28 Central Eólica São Domingos IV, S.A. Brazil - 100% 0 0 0 -16 -16 -16 Central Eólica São Domingos V, S.A. Brazil - 100% 0 0 0 -8 -8 -8 Central Eólica Borborema I, S.A. Brazil - 100% PwC 923 -2 -1,686 -22 -22 -788 Central Eólica Borborema II, S.A. Brazil - 100% PwC 902 -2 -2,220 -12 -12 -1,333 Central Eólica Borborema III, S.A. Brazil - 100% PwC 94 -2 -822 -24 -24 -755 Central Eólica Borborema IV, S.A. Brazil - 100% PwC 94 -2 -1,110 -15 -15 -1,034
221 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Central Eólica Itaúna I, S.A. Brazil - 100% N.A. 0 0 0 -21 -21 -21 Central Eólica Itaúna II, S.A. Brazil - 100% N.A. 0 0 0 -20 -20 -20 Central Eólica São Domingos I, S.A. Brazil - 100% N.A. 0 0 0 -24 -24 -24 Central Eólica São Domingos II, S.A. Brazil - 100% N.A. 0 0 0 -29 -29 -29 Central Eólica São Domingos III, S.A. Brazil - 100% N.A. 0 0 0 -17 -17 -17 Central Eólica Barra I, S.A. Brazil - 100% N.A. 2 0 0 -1 -1 1 Central Eólica Barra II, S.A. Brazil - 100% N.A. 2 0 0 -1 -1 1 Central Eólica Barra III, S.A. Brazil - 100% N.A. 2 0 0 -1 -1 1 Central Eólica Barra IV, S.A. Brazil - 100% N.A. 2 0 0 -1 -1 1 Central Eólica Barra V, S.A. Brazil - 100% N.A. 2 0 0 -1 -1 1 Central Eólica Barra VI, S.A. Brazil - 100% N.A. 2 0 0 -1 -1 1 Central Eólica Barra VII, S.A. Brazil - 100% N.A. 2 0 0 -1 -1 1 Central Eólica Barra VIII, S.A. Brazil - 100% N.A. 2 0 0 -1 -1 1 Central Eólica Barra IX, S.A. Brazil - 100% N.A. 2 0 0 -1 -1 1 Central Eólica Barra X, S.A. Brazil - 100% N.A. 2 0 0 -1 -1 1 Central Eólica Barra XI, S.A. Brazil - 100% N.A. 2 0 0 -1 -1 1 EDPRNA DG Illi- nois Development LLC USA - 85% 248 -109 0 -183 -183 -44 EDPRNA DG Wisconsin De- velopment LLC USA - 85% 94 -62 0 -32 -32 0 EDPRNA DG New York Devel- opment LLC USA - 85% 280 -144 0 -91 -91 46 EDPRNA DG Mississippi De- velopment LLC USA - 85% 138 -75 0 -64 -64 -1 EDPRNA DG Missouri Devel- opment LLC USA - 85% 24 -17 0 -7 -7 0 EDPRNA DG Ohio Develop- ment LLC USA - 85% 2,806 -303 0 -651 -651 1,851 EDPRNA DG Texas Develop- ment LLC USA - 85% 117 -49 0 -69 -69 -1 EDPRNA DG Georgia Devel- opment LLC USA - 85% 263 -14 0 -182 -182 67 EDPRNA DG California Devel- opment LLC USA - 85% 140 0 0 -153 -153 -13 EDPRNA DG In- diana Development LLC USA - 85% 39 0 0 -39 -39 0 EDPRNA DG Pennsylvania Development LLC USA - 85% 90 -3 0 -105 -105 -18 EDPRNA DG Michigan Devel- opment LLC USA - 85% 28 0 0 -28 -28 -1 EDPRNA DG Maryland Devel- opment LLC USA - 85% 4 0 0 -4 -4 0 EDPRNA DG Vir- ginia Development LLC USA - 85% 52 0 0 -52 -52 0 Generate USF Livermore LLC USA - 85% 2,904 0 0 -14 -14 2,891 Generate USF McClellan LLC USA - 85% 3,164 0 0 -14 -14 3,150 EDPRNA DG Manassas LLC USA - 85% 4,953 0 0 -1 -1 4,953 Generate USF Las Vegas LLC USA - 85% 57 0 0 -1 -1 56 Generate USF N Las Vegas LLC USA - 85% 376 0 0 -1 -1 375
222 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL EDPR NA DG Holding LLC USA - 100% 205,346 -52 0 -16 -16 205,278 Soteria Solar Services LLC USA - 85% 5,161 -420 0 -166 -166 4,575 EDPRNA DG O&M Services LLC USA - 85% -5 -7 0 24 24 13 C2 Alpha Hold- ings LLC USA - 85% 70 -69 0 -1 -1 0 EDPRNA DG MA Managing Mem- ber LLC USA - 85% 18,844 -1 0 -1 -1 18,842 Smart Sunscribe LLC USA - 85% 2 -1 0 -1 -1 0 2021 DG CA Agora Ventures I LLC USA - 85% 41 -7 0 -1 -1 33 C2 WM Phase 3 Sponsor LLC USA - 85% 4 -1 0 -1 -1 2 C2 WM Phase 3 Holdings LLC USA - 85% 2 -1 0 -1 -1 0 EDPRNA DG Lessee Holdings LLC USA - 85% 2 -1 0 -1 -1 0 C2 NY Brookhaven LLC USA - 85% 7,909 -577 0 -71 -71 7,261 EDPRNA DG CI Sponsor 2 LLC USA - 85% 4 -1 0 -1 -1 2 C2 CI Holdings 2 LLC USA - 85% 2 -1 0 -1 -1 0 EDPRNA DG WM 2020 Par- ent LLC USA - 85% 4 0 0 -1 -1 2 C2 WM 2020 Holdings LLC USA - 85% 2 -1 0 -1 -1 0 NY CSG 2 Spon- sor LLC USA - 85% PwC 24,578 -7 0 -1 -1 24,571 NY CSG 2 Hold- ings LLC USA - 85% 24,571 5,227 0 -216 -216 29,581 East River Solar LLC USA - 85% 5,215 -128 0 -43 -43 5,045 Cortland-Virgil Road Solar LLC USA - 85% 6,059 -610 0 -82 -82 5,366 Lime Hollow So- lar LLC USA - 85% 6,142 -595 0 -118 -118 5,429 McLean Solar 2 LLC USA - 85% 5,594 -432 0 -40 -40 5,121 Route 13 Solar LLC USA - 85% 6,354 -696 0 -135 -135 5,524 EDPRNA DG CT Fund 1 MM LLC USA - 85% PwC 17,395 -1,226 2,901 -425 -425 18,644 C2 CT Fund 1 Holding LLC USA - 85% PwC 30,207 12,957 0 275 275 43,439 C2 WM Arizona 1 LLC USA - 85% 885 -11 0 -12 -12 862 C2 WM Arizona 2 LLC USA - 85% 1,436 -37 0 -14 -14 1,384 C2 WM Arizona 3 LLC USA - 85% 2,101 -59 0 -33 -33 2,009 C2 WM Arizona 4 LLC USA - 85% 1,695 -42 0 -49 -49 1,604 C2 WM Arizona 5 LLC USA - 85% 1,416 -48 0 -21 -21 1,346 C2 WM Arizona 6 LLC USA - 85% 1,796 -50 0 -41 -41 1,705 C2 WM Arizona 7 LLC USA - 85% 2,504 -504 0 -18 -18 1,981 C2 WM Arizona 8 LLC USA - 85% 1,967 -59 0 -23 -23 1,885 C2 WM Arizona 9 LLC USA - 85% 1,856 -46 0 -29 -29 1,781 C2 WM Arizona 10 LLC USA - 85% 684 -11 0 -14 -14 659 C2 WM Laurens Leasing LLC USA - 85% 2,142 -119 0 -20 -20 2,003 C2 WM New Jersey 1 LLC USA - 85% 4,502 353 0 18 18 4,873 C2 RI Hopkinton LLC USA - 85% 2,734 -55 0 -72 -72 2,607 Blissville Road LLC USA - 85% 1,942 -28 0 -18 -18 1,896 Route 149 LLC USA - 85% 2,236 -51 0 -28 -28 2,158 Shields Drive LLC USA - 85% 2,173 -52 0 -37 -37 2,084 Upper Road LLC USA - 85% 2,050 27 0 -23 -23 2,055 C2 Woodbury Solar LLC USA - 85% 8,934 -15 0 -6 -6 8,912
223 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL MN CSG 2 LLC USA - 85% 8,912 -305 0 -191 -191 8,416 EDPRNA DG WM DSA Spon- sor LLC USA - 85% PwC -2,888 -551 1,208 -371 -371 -2,602 C2 Centrica MT LLC USA - 85% PwC 3,073 11,552 0 -83 -83 14,541 C2 WM DSA Holdings LLC USA - 85% -405 134 0 -113 -113 -383 C2 WM Arizona 1549 LLC USA - 85% 983 99 0 54 54 1,136 C2 WM Arizona 2112 LLC USA - 85% 712 57 0 27 27 795 C2 WM Arizona 3360 LLC USA - 85% 743 48 0 22 22 814 C2 WM Arizona 3465 LLC USA - 85% 689 112 0 48 48 849 C2 WM Arizona 3799 LLC USA - 85% 1,091 74 0 34 34 1,199 C2 WM Arizona 3833 LLC USA - 85% 1,094 67 0 39 39 1,200 C2 WM Arizona 3861 LLC USA - 85% 1,083 60 0 35 35 1,178 C2 WM Arizona 4451 LLC USA - 85% 868 73 0 46 46 987 C2 WM Califor- nia 1789 LLC USA - 85% 554 70 0 34 34 658 C2 WM Califor- nia 1988 LLC USA - 85% 391 42 0 17 17 449 C2 WM Califor- nia 4202 LLC USA - 85% 292 8 0 -2 -2 298 C2 WM Califor- nia 4317 LLC USA - 85% 1,019 -3 0 -9 -9 1,007 C2 WM Califor- nia 5890 LLC USA - 85% 580 15 0 -4 -4 591 C2 WM Illinois 253 LLC USA - 85% 693 262 0 133 133 1,088 C2 WM Illinois 612 LLC USA - 85% 482 66 0 81 81 629 C2 WM Illinois 891 LLC USA - 85% 522 269 0 134 134 925 C2 WM Illinois 1404 LLC USA - 85% 616 224 0 110 110 951 C2 WM Illinois 1489 LLC USA - 85% 510 148 0 64 64 722 C2 WM Illinois 1548 LLC USA - 85% 498 12 0 55 55 566 C2 WM Illinois 1553 LLC USA - 85% 455 190 0 92 92 737 C2 WM Illinois 1761 LLC USA - 85% 583 115 0 68 68 766 C2 WM Illinois 1848 LLC USA - 85% 363 230 0 112 112 705 C2 WM Illinois 1933 LLC USA - 85% 450 207 0 100 100 758 C2 WM Illinois 2215 LLC USA - 85% 498 218 0 115 115 831 C2 WM Illinois 2491 LLC USA - 85% 674 276 0 148 148 1,098 C2 WM Illinois 5442 LLC USA - 85% 416 131 0 61 61 608 C2 WM Louisi- ana 87 LLC USA - 85% 466 14 0 13 13 492 C2 WM Louisi- ana 309 LLC USA - 85% 0 0 0 0 0 0 C2 WM Louisi- ana 539 LLC USA - 85% 663 -4 0 -5 -5 655 EDPRNA DG En- ergy Holdings Inc. USA - 85% 65 -44 0 -21 -21 0 C2 Energy De- velopment LLC USA - 85% 173,282 -1,627 0 -509 -509 171,146 C2 MN Hopkins LLC USA - 85% 2,788 -113 0 -56 -56 2,619 C2 NC Kiy Hawk LLC USA - 85% 0 0 0 0 0 0 C2 NJ Andover I LLC USA - 85% -215 1,259 0 -126 -126 917 C2 NY Sentinel Heights Solar LLC USA - 85% 8,574 -20 0 -98 -98 8,456 C2 OH New Lebanon LLC USA - 85% 0 0 0 0 0 0 C2 OH Otsego II LLC USA - 85% -49 1,326 0 -138 -138 1,139 C2 SH 2019 LLC USA - 85% 2,169 -1 0 -1 -1 2,167 EDPR NA DG MN YMCA LLC USA - 85% 1,672 -12 0 -21 -21 1,639
224 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL CA Marinwood Solar LLC USA - 85% 629 -5 0 -3 -3 622 CA Olde Thompson Solar LLC USA - 85% -326 -27 0 9 9 -343 MidCoast C2 Solar LLC USA - 85% 0 0 0 0 0 0 NY Hemlock Hills Solar LLC USA - 85% 2,892 -1 0 -78 -78 2,812 NY Mines Press Solar LLC USA - 85% 3,205 -98 0 -103 -103 3,005 NY Morgan Solar LLC USA - 85% 15,057 16 0 -1 -1 15,072 NY OG 1 Solar LLC USA - 85% 2 -1 0 -1 -1 0 Omega CSG 1 LLC USA - 85% -1,964 1,822 0 153 153 11 Penn Yan Solar I LLC USA - 85% 7,041 -61 0 213 213 7,193 RI Abrava Solar LLC USA - 85% 6,865 -175 0 83 83 6,773 Strawberry Solar Farm LLC USA - 85% 3,299 -45 0 90 90 3,344 VT Stone Valley LLC USA - 85% 2 -1 0 -1 -1 0 C2 WM Holdings LLC USA - 85% 69 -1 0 -3 -3 65 C2 WM Arizona Holdings LLC USA - 85% 3 -2 0 -1 -1 0 C2 WM Califor- nia Holdings LLC USA - 85% 6 -1 0 -5 -5 0 C2 WM Illinois Holdings LLC USA - 85% 36 -34 0 -1 -1 0 C2 WM Louisi- ana Holdings LLC USA - 85% 0 0 0 0 0 0 C2 WM Mary- land Holdings LLC USA - 85% 3 -1 0 -1 -1 0 C2 WM New Jersey Holdings LLC USA - 85% 18 -1 0 -17 -17 0 C2 WM Regent Dev Holdings 2020 LLC USA - 85% 2 -1 0 -1 -1 0 C2 WM Arizona 1512 LLC USA - 85% 1,044 -2 0 -3 -3 1,039 C2 WM Arizona 5768 LLC USA - 85% 0 0 0 0 0 0 C2 WM Mary- land 1715 LLC USA - 85% 766 -42 0 49 49 772 C2 WM Mary- land 2436 LLC USA - 85% 1,018 -39 0 45 45 1,025 C2 WM New Jersey 1807 LLC USA - 85% 766 -1 0 -3 -3 762 C2 WM New Jersey 1844 LLC USA - 85% 159 -1 0 -159 -159 -1 C2 WM New Jersey 1869 LLC USA - 85% 155 -1 0 -155 -155 -1 C2 WM New Jersey 1977 LLC USA - 85% 0 0 0 0 0 0 C2 WM New Jersey 2195 LLC USA - 85% 781 -10 0 182 182 953 C2 WM New Jersey 3795 LLC USA - 85% 1,064 25 0 96 96 1,184 EDPRNA DG Rho LLC USA - 85% PwC 35,085 5,704 0 4,108 4,108 44,897 EDPRNA DG- REA Solar LLC USA - 85% 8,946 -5 0 -1 -1 8,940 EDPRNA DG CA 2016 Holdings LLC USA - 85% 1,424 -4 0 -27 -27 1,393 REA-EDPRNA DG 2016 Lessee LLC USA - 85% 7,350 -456 0 -579 -579 6,315 Camden PV So- lar LLC USA - 85% 6,331 -429 0 -57 -57 5,845 C2 MA Manag- ing Member II LLC USA - 85% 2,676 0 0 -1 -1 2,675 C2 MA FKW Holdings LLC USA - 85% 2,675 -317 0 -100 -100 2,258 RevEnergy C2 Franklin LLC USA - 85% 1,508 140 0 -31 -31 1,618 C2 MA Kelly Way Solar LLC USA - 85% 1,046 94 0 -101 -101 1,039
225 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL EDPRNA DG MA Lakeville Spon- sor LLC USA - 85% 7,618 -5 0 -1 -1 7,613 C2 MA Lakeville Holdings LLC USA - 85% 7,613 149 0 -100 -100 7,661 C2 MA Lakeville LLC USA - 85% 7,438 467 0 -562 -562 7,342 EDPRNA DG MA Depcom Spon- sor LLC USA - 85% 3,333 -1 0 -1 -1 3,331 C2 MA DEP- COM 2017 LLC USA - 85% PwC 3,331 487 0 134 134 3,951 C2 MA Adams II LLC USA - 85% 1,199 321 0 -216 -216 1,304 C2 MA New Sa- lem LLC USA - 85% 1,006 237 0 -68 -68 1,174 C2 MA Dudley II LLC USA - 85% 1,070 -152 0 -1 -1 917 Norton Solar I LLC USA - 85% 1,238 394 0 19 19 1,651 Norton Solar II LLC USA - 85% 1,334 279 0 14 14 1,628 EDPRNA DG Starra Sponsor LLC USA - 85% 17,878 -1 0 -1 -1 17,876 C2 CB 2017 Holdings LLC USA - 85% 17,876 -9 0 -250 -250 17,618 EDPRNA DG Scripps 1 LLC USA - 85% 1,404 -199 0 -80 -80 1,125 C2 Scripps 3 LLC USA - 85% 909 -95 0 -62 -62 752 C2 Scripps 4 LLC USA - 85% 1,303 -98 0 -57 -57 1,149 C2 Starra Solar LLC USA - 85% 12,390 -588 0 -257 -257 11,545 C2 WM Green- wood Leasing LLC USA - 85% 489 -28 0 40 40 501 C2 WM Pow- dersville Leasing LLC USA - 85% 661 -70 0 16 16 607 C2 WM Simp- sonville Leasing LLC USA - 85% 846 -78 0 65 65 834 EDPRNA DG MA Owner LLC USA - 85% 18,842 -2 0 -1 -1 18,839 EDPRNA DG MA Adams I Hold- ings LLC USA - 85% 10,551 -746 0 -819 -819 8,986 EDPRNA DG MA Adams I LLC USA - 85% 8,925 -33 0 -13 -13 8,880 EDPRNA DG MA Swansea Hold- ings LLC USA - 85% 6,081 -842 0 -714 -714 4,525 EDPRNA DG MA Swansea LLC USA - 85% 5,115 877 0 212 212 6,204 EDPRNA DG MA 2016 Holdings LLC USA - 85% 1,790 -156 0 -39 -39 1,595 RS Holyoke 3 LLC USA - 85% 1,599 19 0 -99 -99 1,519 EDPRNA DG Franklin LLC USA - 85% 3,200 -6 0 -1 -1 3,193 EDPRNA DG Gamma Hold- ings LLC USA - 85% 3,193 -130 0 -6 -6 3,056 EDPRNA DG Morin LLC USA - 85% 1,648 -146 0 -159 -159 1,344 SLX Project 1080 LLC USA - 85% 1,408 129 0 -73 -73 1,464 EDPRNA DG WM Leasing LLC USA - 85% 2,267 -2 0 -1 -1 2,264 EDPRNA DG WM Phase 1 Holdings LLC USA - 85% 2,215 -64 0 -104 -104 2,047 EDPRNA DG WM Chester Leasing LLC USA - 85% 350 -45 0 10 10 315 EDPRNA DG WM Indian Land Leasing LLC USA - 85% 690 -84 0 26 26 632 EDPRNA DG WM Lake Wylie Leasing LLC USA - 85% 699 -85 0 26 26 640 EDPRNA DG WM Pickens Leasing LLC USA - 85% 297 -19 0 16 16 294 C2 Bristol I LLC USA - 85% 7,442 -20 0 -83 -83 7,339
226 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL 2021 DG Apollo Sol II LLC USA - 85% 7 0 0 -1 -1 6 2021 DG Apollo Ventures II LLC USA - 85% 1 0 0 -1 -1 0 RI Sposato Solar LLC USA - 85% 255 -11 0 44 44 288 C2 Bristol II LLC USA - 85% 1,666 -22 0 -29 -29 1,614 C2 Omega Holding Com- pany LLC USA - 85% 18 -15 0 -3 -3 0 Camden PV PSEG Solar LLC USA - 85% 106 -62 0 -45 -45 0 EDPR NA DG MN SLP LLC USA - 85% 2 -1 0 -1 -1 0 ME Dover Fox- croſt Solar LLC USA - 85% 1,258 -2 0 -19 -19 1,237 ME Ellsworth So- lar LLC USA - 85% 846 -2 0 -1 -1 843 ME Rocky Hill Solar LLC USA - 85% 474 -1 0 -1 -1 471 ME Sandy Hill Solar LLC USA - 85% 221 -1 0 -2 -2 218 NH Hinsdale So- lar LLC USA - 85% 0 0 0 0 0 0 CA Geysburg Solar Farm LLC USA - 85% 8,834 -21 0 -39 -39 8,774 CA Syracuse Solar LLC USA - 85% 0 0 0 0 0 0 CA Tours Solar LLC USA - 85% 0 0 0 0 0 0 2021 DG CA Apollo Sol II LLC USA - 85% 1 0 0 -1 -1 0 2021 DG CA Apollo Ventures II LLC USA - 85% 1 0 0 -1 -1 0 NC Loy Farm Solar LLC USA - 85% 0 0 0 0 0 0 NV Solar Sparks LLC USA - 85% 0 0 0 0 0 0 RSBF Jeffco II LLC USA - 85% 1,927 -13 0 -55 -55 1,860 2021 DG Agora Ventures I LLC USA - 85% 14,786 262 0 1,332 1,332 16,380 2021 DG Agora Holdings LLC USA - 85% 14,791 0 0 -4 -4 14,786 DC Michigan Solar LLC USA - 85% 0 0 0 0 0 0 EDPR NA Dis- tributed Generation LLC USA - 85% PwC 195,026 34,360 0 -15,581 -15,581 213,805 ME New Vine- yard Solar LLC USA - 85% 260 -6 0 -265 -265 -10 Creed Road So- lar 1 LLC USA - 85% 0 0 0 0 0 0 German Com- munity Solar LLC USA - 85% 9,080 -50 0 -24 -24 9,006 Gilpatrick Solar LLC USA - 85% 843 0 0 -1 -1 842 North Coast Highway Solar 1 LLC USA - 85% 347 0 0 -35 -35 312 North Coast Highway Solar 2 LLC USA - 85% 274 0 0 -34 -34 240 Piscataquis Val- ley Solar LLC USA - 85% 1,240 0 0 -9 -9 1,230 Potsdam Com- munity Solar LLC USA - 85% 6,070 -1 0 184 184 6,253 Mastamho Hold- ings LLC USA - 85% 44 -2 0 -1 -1 41 RI- Moo Cow USA - 85% 4,094 1 0 -2 -2 4,093 EDPRNA DG WM Illinois 1998 LLC USA - 85% 0 0 0 0 0 0 SC Southern Wesleyan Solar LLC USA - 85% 0 0 0 0 0 0 SC Beaufort Jasper Solar LLC USA - 85% 178 -11 0 -163 -163 4 EDPRNA DG WM Illinois 3459 LLC USA - 85% 0 0 0 0 0 0 MT Plentywood Solar I LLC USA - 85% 0 0 0 0 0 0 MT Plentywood Solar II LLC USA - 85% 0 0 0 0 0 0
227 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL ND Crystal Solar I LLC USA - 85% 0 0 0 0 0 0 Morgan Road Solar West LLC USA - 85% 6,655 -7 0 -1 -1 6,646 Morgan Road Solar East LLC USA - 85% 8,417 -7 0 -1 -1 8,409 Mohave Power LLC USA - 85% 14,567 -484 0 -1,749 -1,749 12,335 RI Quarry Solar LLC USA - 85% 296 -2 0 -1 -1 293 EDPRNA Bar Harbor Holdings LLC USA - 85% 7,166 0 0 -5 -5 7,161 Bar Harbor Community So- lar LLC USA - 85% 7,165 -4 0 -3 -3 7,157 Mohave Power Holdings LLC USA - 85% 14,568 0 0 -1 -1 14,567 EDPRNA DG PR Radar LLC USA - 85% 224 0 0 -123 -123 101 EDPRNA DG Distributed Sun Holding LLC USA - 85% 11,187 0 0 -26 -26 11,161 EDPRNA DG York County Sun LLC USA - 85% 0 0 0 0 0 0 Generate USF Loveland LLC USA - 85% 36 -36 0 35 35 35 Generate USF Fairburn LLC USA - 85% 36 0 0 -1 -1 36 Generate USF Phoenix LLC USA - 85% 63 0 0 -1 -1 62 Citizens Dicken- son Solar LLC USA - 85% 2,775 0 0 -2 -2 2,773 Citizens West- moreland Solar LLC USA - 85% 9,195 0 0 -5 -5 9,190 NDIW California RE LLC USA - 100% 0 0 0 0 0 0 Tillman Storage LLC USA - 100% 0 0 0 0 0 0 Black Prairie Storage LLC USA - 100% 0 0 0 0 0 0 Black Prairie Storage II LLC USA - 100% 0 0 0 0 0 0 Pueblo Norte So- lar Park LLC USA - 100% 0 0 0 0 0 0 EDPR Solar Ven- tures VI LLC USA - 100% 236 0 0 15 15 251 2022 SOL VI LLC USA - 100% 233,353 -1 0 1 1 233,353 EDPR Solar Ven- tures VII LLC USA - 100% 28,364 -9 0 1,176 1,176 29,531 2022 SOL VII LLC USA - 100% 85,165 -2 0 16 16 85,179 EDPR RS LLC USA - 100% 0 0 0 0 0 0 Pearl River Solar Park LLC USA - 100% 68,563 -913 9,323 1,447 1,447 78,422 Sugar Plum Solar Park LLC USA - 100% 0 0 0 0 0 0 EDPR NA Green- field Solar Park LLC USA - 100% N.A. 0 0 0 0 0 0 Sailor Springs Solar Park LLC USA - 100% N.A. 0 0 0 -394 -394 -394 10 Point Solar Park LLC USA - 100% 1 0 0 -1 -1 0 Black Prairie So- lar Park II LLC USA - 100% 0 0 0 0 0 0 Rock Dane Solar Park LLC USA - 100% 0 0 0 0 0 0 Sawmill Junc- tion Solar Park LLC USA - 100% 3,244 0 0 0 0 3,244 Calemen Solar Park II LLC USA - 100% 37,741 0 -2,275 -11 -11 35,455 Crooked Lake Solar LLC USA - 100% 214,112 -941 8,544 1,480 1,480 223,194 Clover Creek Solar Project LLC USA - 100% 30,075 -24 0 -20 -20 30,032 Wolf Run Solar LLC USA - 100% 88 0 27,161 -1,064 -1,064 26,185 EDPR Scarlet II LLC USA - 100% 52,250 -3,203 -83,996 -12,611 -12,611 -47,561 Clover Creek Solar Project II LLC USA - 100% 0 0 0 0 0 0
228 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Hickory Solar LLC USA - 100% 22,749 -2 14,501 -739 -739 36,509 EDPR Scarlet I LLC USA - 100% 1 0 0 -50 -50 -49 EDPR Scarlet III LLC USA - 100% 0 0 0 0 0 0 Crooked Lake Solar II LLC USA - 100% 0 0 0 0 0 0 Cypress Knee Solar Park LLC USA - 100% 1 0 0 -4 -4 -3 Eagle Creek So- lar Park LLC USA - 100% 3,050 0 0 -1 -1 3,048 Rose Run Solar Park LLC USA - 100% 0 0 0 0 0 0 Salt Lick Solar Park LLC USA - 100% 1 0 0 -1 -1 0 Lotus Blocker LLC USA - 100% 0 0 0 0 0 0 EDPR Aurora Holdings LLC USA - 100% 2 -2 0 0 0 0 Lotus DevCo II LLC USA - 100% 3 -2 0 0 0 0 Big River Solar Park LLC USA - 100% 0 0 0 0 0 0 Shy Place Solar Park LLC USA - 100% 0 0 0 0 0 0 Ragsdale Solar LLC USA - 100% 28,346 -490 3,722 880 880 32,458 EDPR Wind Ven- tures XXIII LLC USA - 100% 112,989 6,854 0 10,480 10,480 130,323 2021 Vento XXIII LLC USA - 100% 242,624 -106 0 -39 -39 242,479 EDPR Vento II Holding LLC USA - 100% 0 0 0 0 0 0 EDPR Vento III Holding LLC USA - 100% 0 0 0 0 0 0 Carpenter Wind Farm LLC USA - 100% 0 0 0 0 0 0 Eighty South So- lar Park LLC USA - 100% 0 0 0 0 0 0 Hobolochio So- lar Park LLC USA - 100% 0 0 0 0 0 0 Poplarville Solar Park LLC USA - 100% 0 0 0 0 0 0 Stone North So- lar Park LLC USA - 100% 0 0 0 0 0 0 Twenty North Solar Park LLC USA - 100% 0 0 0 0 0 0 EDPR Wind Ven- tures XXIV LLC USA - 100% 77,618 0 0 0 0 77,618 2023 Vento XXIV LLC USA - 100% 80,811 0 0 0 0 80,811 Duff Storage LLC USA - 100% 0 0 0 0 0 0 Cheboygan So- lar Farm LLC USA - 100% 0 0 0 0 0 0 Three Lakes So- lar LLC USA - 100% 0 0 0 0 0 0 Longroad DG Porolio I LLC USA - 85% 682 0 0 36 36 718 MMA Renewa- ble Ventures Solar Fund III LLC USA - 85% 5,885 2 0 -18 -18 5,870 Renewable Ven- tures Solar Fund V GP LLC USA - 85% 16,493 0 0 -1 -1 16,493 Longroad Fund III Holdings LLC USA - 85% 17,816 0 0 20 20 17,836 EDPRNA DG XII Holdings LLC USA - 85% 24,381 0 0 -1 -1 24,381 EDPRNA DG So- lar WF Porolio LLC USA - 85% -9,869 0 0 -1 -1 -9,869 EDPRNA DG So- lar Porolio IV LLC USA - 85% -915 0 0 -18 -18 -933 SunE Solar VI LLC USA - 85% 1,840 0 0 -11 -11 1,829 SunE Solar V LLC USA - 85% 3,006 0 0 -398 -398 2,609 Renewable Ven- tures Solar Fund V LLC USA - 85% 16,305 0 0 -12 -12 16,293 SunE Solar XIV LLC USA - 85% 2,416 0 0 -23 -23 2,392 MMA Solar Fund III GP Sub USA - 85% 0 0 0 0 0 0
229 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Renewable Ven- tures V Equity Holdings LLC USA - 85% 16,245 -29 0 -102 -102 16,114 Renewable Ven- tures V GP Holdings LLC USA - 85% 0 0 0 0 0 0 Longroad Solar Fund III LLC USA - 85% 17,529 0 0 46 46 17,575 SunE Solar XII LLC USA - 85% 24,081 0 0 -16 -16 24,065 SunE Solar III LLC USA - 85% -10,132 -2 0 -17 -17 -10,151 SunE Solar IV LLC USA - 85% -955 -3 0 31 31 -927 Longroad SD LLC USA - 85% 296 0 0 173 173 469 Longroad ASD1 LLC USA - 85% 60 0 0 6 6 65 Longroad CPA CDC1 LLC USA - 85% 911 0 0 145 145 1,057 Longroad CPA CSU3 LLC USA - 85% 92 0 0 42 42 135 Longroad CPA CSU4 LLC USA - 85% 506 0 0 26 26 532 Longroad SIT1 Hoboken LLC USA - 85% 89 0 0 16 16 106 Longroad ST6 Stockton LLC USA - 85% 491 0 0 -12 -12 479 Longroad WF7 Cheshire LLC USA - 85% 116 0 0 -2 -2 114 Longroad WGNJ1 LLC USA - 85% 186 0 0 18 18 204 Longroad WGNJ2 LLC USA - 85% 39 0 0 6 6 45 MMA Rita Power LLC USA - 85% -26 20 0 226 226 219 MMA DAS Power LP USA - 85% 540 18 0 495 495 1,054 MMA LHIW Power LP USA - 85% 156 7 0 -15 -15 148 MMA CCC Power LP USA - 85% 89 4 0 19 19 112 MMA Belmar Power LP USA - 85% 199 23 0 297 297 519 MMA WBF Power LP USA - 85% 1,088 25 0 -102 -102 1,010 MMA SROSA Power LP USA - 85% -105 10 0 362 362 268 MMA Mission Bay Power LP USA - 85% 44 16 0 46 46 107 MMA MDS Power I LP USA - 85% 470 5 0 -81 -81 394 MMA MDS Power II LP USA - 85% 1,539 14 0 -316 -316 1,237 MMA MDS Power IV LP USA - 85% 259 26 0 22 22 307 MMA GDC Power LP USA - 85% 408 31 0 184 184 623 MMA BWS Power LP USA - 85% 80 24 0 121 121 225 MMA Happy Valley Power LP USA - 85% 47 17 0 73 73 138 MMA RMS Power LP USA - 85% 485 23 0 -259 -259 248 MMA Fresno Power LP USA - 85% 361 33 0 38 38 432 RV CSU Power LLC USA - 85% 3,805 361 0 372 372 4,539 FRV CSU Power II LLC USA - 85% 8,030 266 0 172 172 8,468 FRV SI Transport Solar LP USA - 85% 4,279 -3 0 88 88 4,364 SunE WF3-WG Holdings LLC USA - 85% 2,604 0 0 473 473 3,077 SunE WF3 KHL A Holdings LLC USA - 85% 3,701 0 0 609 609 4,309 SunE WF3 KHL B Holdings LLC USA - 85% 2,893 0 0 899 899 3,792 SunE WF3-ST Holdings LLC USA - 85% 2,743 0 0 584 584 3,327 SunE WF3- Broomfield Hold- ings LLC USA - 85% 101 0 0 55 55 156 SunE WF3- BART Holdings LLC USA - 85% 175 0 0 40 40 214
230 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL SunE Bristow MS LLC USA - 85% 53 0 0 8 8 61 SunE CPA CDC2 LLC USA - 85% 724 0 0 122 122 846 SunE SR1 NREL LLC USA - 85% 352 0 0 189 189 541 SunE SR1 Ar- vada5 LLC USA - 85% 423 0 0 50 50 473 SunE Lakeland Center LLC USA - 85% 158 0 0 30 30 188 SunE NC Pro- gress1 LLC USA - 85% 665 0 0 236 236 901 SunE Fairfield SSD LLC USA - 85% 755 0 0 91 91 846 SunE PD Syca- more LLC USA - 85% 133 0 0 21 21 154 SunE PD Willow LLC USA - 85% 66 0 0 26 26 92 SunE PD Oak LLC USA - 85% 214 0 0 75 75 289 SunE Multnomah JBY LLC USA - 85% 154 0 0 8 8 162 SunE Multnomah JJC LLC USA - 85% 181 0 0 9 9 190 SunE MCPS Clarksburg LLC USA - 85% 164 0 0 33 33 197 SunE MCPS Gardens LLC USA - 85% 49 0 0 5 5 55 SunE MCPS Montgomery LLC USA - 85% 65 0 0 15 15 80 SunE MCPS Lakelands LLC USA - 85% 64 0 0 13 13 78 SunE MCPS Parkland LLC USA - 85% 86 0 0 22 22 108 SunE MCPS Quince Orchard LLC USA - 85% 137 0 0 38 38 175 SunE MCPS FSK LLC USA - 85% 54 0 0 13 13 67 SunE MCPS Shriver LLC USA - 85% 57 0 0 10 10 67 SunE NLB-2 LLC USA - 85% 613 0 0 115 115 729 SunE PNMC Roof LLC USA - 85% -5 0 0 6 6 0 SunE W12DG-A LLC USA - 85% 7,607 104 0 -76 -76 7,636 SunE W12DG-B LLC USA - 85% 5,287 79 0 403 403 5,769 SunE W12DG-C LLC USA - 85% 8,102 235 0 488 488 8,825 SunE WMT PR2 LLC USA - 85% 1,333 -4 0 -2 -2 1,328 SunE H3 Hold- ings LLC USA - 85% 1,121 431 0 1,419 1,419 2,971 SunE CPA CSU5 LLC USA - 85% 15 18 0 46 46 79 SunE CPA CTS1 LLC USA - 85% 123 0 0 64 64 186 SunE SR1 Rifle PS LLC USA - 85% -37 99 0 220 220 282 SunE H4 Hold- ings LLC USA - 85% 1,965 -123 0 -26 -26 1,816 SunE U6 Hold- ings LLC USA - 85% 1,702 -17 0 173 173 1,857 SunE M5 Hold- ings LLC USA - 85% -3,384 0 0 -184 -184 -3,568 SunE M5B Hold- ings LLC USA - 85% 3,519 0 0 -6 -6 3,513 SunE M5C Hold- ings LLC USA - 85% -847 0 0 15 15 -832 SunE D14 ATC-A Holdings LLC USA - 85% 1,058 0 0 172 172 1,230 SunE D14 DGS- A Holdings LLC USA - 85% 5,274 0 0 389 389 5,664 SunE D14 KHL-A Holdings LLC USA - 85% 2,094 0 0 232 232 2,326 SunE D14 MISC- A Holdings LLC USA - 85% 8,432 0 0 27 27 8,459 SunE D14 MISC- B Holdings LLC USA - 85% 2,259 0 0 66 66 2,325 SunE D14 SPLS- A Holdings LLC USA - 85% 2,159 0 0 221 221 2,381 SunE D14 WMT- A Holdings LLC USA - 85% 571 0 0 124 124 694 SunE W12DG-D LLC USA - 85% 2,015 83 0 187 187 2,286
231 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Bear Peak Bec- caria LLC USA - 85% 142 0 0 -148 -148 -5 Bear Peak Brady LLC USA - 85% 0 0 0 -5 -5 -5 Bear Peak East Carroll LLC USA - 85% 196 0 0 -1 -1 195 Bear Peak Glen Hope LLC USA - 85% 212 0 0 -3 -3 208 Bear Peak Jen- nerstown LLC USA - 85% 132 0 0 -1 -1 131 Bear Peak Juniata LLC USA - 85% 0 0 0 0 0 0 Bear Peak Paint II LLC USA - 85% 130 0 0 -1 -1 129 Bear Peak Rich- mond LLC USA - 85% 147 0 0 -1 -1 146 HB Steel Com- munity Solar LLC USA - 85% 2,699 0 0 -11 -11 2,688 EDPRNA DG Ridgefield BOE LLC USA - 85% 138 36 0 -47 -47 128 EDPRNA DG PR Aguadilla LLC USA - 85% 57 0 0 -3 -3 54 Longroad Solar Porolio III LLC USA - 85% 2,430 0 0 0 0 2,430 EDPRNA DG Kentucky Devel- opment LLC USA - 85% 141 0 0 -146 -146 -5 EDPRNA DG Bristol Solar LLC USA - 85% 115 0 0 0 0 115 EDPRNA DG Li- vermore Solar LLC USA - 85% 425 0 0 0 0 425 CF OH Solar St RT 118, Ansonia LLC USA - 85% 104 0 0 0 0 104 CF OH Solar St RT 118, Rossburg LLC USA - 85% 233 0 0 0 0 233 CF OH Solar SR 309, Kenton LLC USA - 85% 162 0 0 0 0 162 CF OH Solar County Hwy 58, Upper Sandusky LLC USA - 85% 514 0 0 0 0 514 CF OH Solar Lin- coln Hwy, Bucyrus1 LLC USA - 85% 298 0 0 0 0 298 CF OH Solar Rd N, Pandora LLC USA - 85% 244 0 0 0 0 244 EDPRNA DG LS Rancho Cuca- monga LLC USA - 85% 0 0 0 0 0 0 EDPRNA DG RT Addison LLC USA - 85% 0 0 0 0 0 0 EDPRNA DG RT Bedford Park LLC USA - 85% 0 0 0 0 0 0 EDPRNA DG RT Chicago LLC USA - 85% 0 0 0 0 0 0 OH FP Com- merce Center LLC USA - 85% 0 0 0 0 0 0 CF OH Solar SR 81 Ada LLC USA - 85% 515 0 0 0 0 515 EDPRNA DG CA Mbusa LLC USA - 85% 0 0 0 0 0 0 EDPRNA DG CA CLNS Fairfield LLC USA - 85% 23 0 0 -23 -23 0 EDPRNA DG Manning Solar LLC USA - 85% 298 0 0 0 0 298 EDPRNA DG Ea- ton Solar LLC USA - 85% 232 0 0 0 0 232 EDPRNA DG Washington So- lar LLC USA - 85% 42 0 0 -28 -28 13 EDPRNA DG Morton Solar LLC USA - 85% 79 0 0 -44 -44 34 EDPRNA DG OH Massie Solar LLC USA - 85% 168 0 0 -46 -46 123 EDPRNA DG OH Continental So- lar LLC USA - 85% 138 0 0 -62 -62 76 CF OH Solar N Dixie Hwy Lima LLC USA - 85% 271 0 0 0 0 271
232 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL 2023 Sol VIII LLC USA - 100% 254,081 0 0 0 0 254,081 EDPR Solar Ven- tures VIII LLC USA - 100% 203,517 0 0 0 0 203,517 EDPR Magnolia DevCo LLC USA - 100% 0 0 0 0 0 0 EDPR Magnolia Holdings LLC USA - 100% 0 0 0 0 0 0 2023 SOL IX LLC USA - 100% 141,039 0 0 9 9 141,048 EDPR Solar Ven- tures IX LLC USA - 100% -6,810 0 0 0 0 -6,810 EDPR Dahlia DevCo LLC USA - 100% 0 0 0 0 0 0 EDPR Dahlia Holdings LLC USA - 100% 0 0 0 0 0 0 Jericho Solar Park LLC USA - 100% 0 0 0 0 0 0 Black River Solar Park LLC USA - 100% 0 0 0 0 0 0 Crooked Lake Solar III LLC USA - 100% 0 0 0 0 0 0 Trailing Springs Storage LLC USA - 100% 0 0 0 0 0 0 Daffodil Grove Storage LLC USA - 100% 0 0 0 0 0 0 Longleaf Stor- age LLC USA - 100% 0 0 0 0 0 0 Flatland Storage LLC USA - 100% 0 0 0 0 0 0 Sandrini BESS Storage LLC USA - 100% 0 0 0 0 0 0 Kronos Pro- jektgesellschaſt mbH Germany - 70% 25 -6 0 -1,287 -1,287 -1,268 Kronos Solar Projects GmbH Germany - 70% 28 63,529 0 6,271 6,271 69,827 Kronos Solar Projects France UG Germany - 85% 1 -4,369 0 6,385 6,385 2,017 KSD 11 UG Germany - 100% 1 -24 0 -27 -27 -50 KSD 12 UG Germany - 100% 1 -13 0 -40 -40 -52 KSD 13 UG Germany - 100% 1 -14 0 -28 -28 -41 KSD 14 UG Germany - 100% 1 -13 0 -87 -87 -100 KSD 15 UG Germany - 100% 1 -9 0 -89 -89 -97 KSD 16 UG Germany - 100% 1 -7 0 -162 -162 -168 KSD 17 GmbH Germany - 100% 25 -9 0 -64 -64 -48 KSD 18 UG Germany - 100% 1 -7 0 -24 -24 -29 KSD 19 UG Germany - 100% 1 -7 0 -25 -25 -31 KSD 21 UG Germany - 100% 1 -7 0 -125 -125 -131 KSD 22 UG Germany - 100% 1 -7 0 -100 -100 -106 KSD 23 UG Germany - 100% 1 -9 0 -24 -24 -33 KSD 24 UG Germany - 100% 1 -7 0 -121 -121 -127 KSD 25 UG Germany - 100% 1 -8 0 -24 -24 -31 KSD 26 UG Germany - 100% 1 -4 0 -186 -186 -189 KSD 27 UG Germany - 100% 1 -4 0 -256 -256 -259 KSD 28 UG Germany - 100% 1 -4 0 -103 -103 -107 KSD 29 UG Germany - 100% 1 -4 0 -109 -109 -112 KSD 30 UG Germany - 100% 1 -4 0 -124 -124 -127 KSD 31 UG Germany - 100% 1 -4 0 -165 -165 -168 KSD 32 UG Germany - 100% 1 -4 0 -30 -30 -33 KSD 33 UG Germany - 100% 1 -4 0 -62 -62 -65 KSD 34 UG Germany - 100% 1 -4 0 -104 -104 -107 KSD 35 UG Germany - 100% 1 -4 0 -88 -88 -91 KSD 36 UG Germany - 100% 1 -4 0 -93 -93 -96 KSD 37 UG Germany - 100% 1 -4 0 -145 -145 -148 KSD 38 UG Germany - 100% 1 -4 0 -162 -162 -165 KSD 39 UG Germany - 100% 1 -4 0 -94 -94 -97 KSD 40 UG Germany - 100% 1 -4 0 -139 -139 -142 KSD 41 UG Germany - 100% 1 0 0 -5 -5 -4 KSD 42 UG Germany - 100% 1 0 0 -5 -5 -4 KSD 43 UG Germany - 100% 1 0 0 -5 -5 -4 KSD 44 UG Germany - 100% 1 0 0 -7 -7 -6 KSD 45 UG Germany - 100% 1 0 0 -5 -5 -4 KSD 46 UG Germany - 100% 1 0 0 -5 -5 -4 KSD 47 UG Germany - 100% 1 0 0 -5 -5 -4 KSD 48 UG Germany - 100% 1 0 0 -5 -5 -4 KSD 49 UG Germany - 100% 1 0 0 -5 -5 -4 KSD 50 UG Germany - 100% 1 0 0 -5 -5 -4
233 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL KSD 51 UG Germany - 100% 1 0 0 -5 -5 -4 KSD 52 UG Germany - 100% 1 0 0 -5 -5 -4 KSD 53 UG Germany - 100% 1 0 0 -5 -5 -4 KSD 54 UG Germany - 100% 1 0 0 -5 -5 -4 KSD 55 UG Germany - 100% 1 0 0 -5 -5 -4 KSD 56 UG Germany - 100% 1 0 0 -5 -5 -4 KSD 57 UG Germany - 100% 1 0 0 -5 -5 -4 KSD 58 UG Germany - 100% 1 0 0 -5 -5 -4 KSD 59 UG Germany - 100% 1 0 0 -5 -5 -4 KSD 60 UG Germany - 100% 1 0 0 -5 -5 -4 Kronos Solar Projects NL, B.V. NL - 100% 5 36 0 87 87 129 KS NL3, B.V. NL - 100% 0 -43 0 -55 -55 -98 KS NL6, B.V. NL - 100% 0 -15 0 -27 -27 -42 KS NL8, B.V. NL - 100% 0 -29 0 -258 -258 -287 KS NL10, B.V. NL - 100% 0 -8 0 -18 -18 -26 KS NL12, B.V. NL - 100% 0 -8 0 -35 -35 -42 KS NL13, B.V. NL - 100% 0 -37 0 -64 -64 -101 KS NL14, B.V. NL - 100% 0 -47 0 -147 -147 -195 KS NL16, B.V. NL - 100% 0 -4 0 -37 -37 -42 KS NL17, B.V. NL - 100% 0 -41 0 -24 -24 -65 KS NL20, B.V. NL - 100% 0 -8 0 -42 -42 -50 KS NL23, B.V. NL - 100% 0 -38 0 -96 -96 -133 KS NL24, B.V. NL - 100% 0 -4 0 -33 -33 -37 KS NL25, B.V. NL - 100% 0 -7 0 -17 -17 -24 KS NL27, B.V. NL - 100% 0 -57 0 -31 -31 -88 KS NL28, B.V. NL - 100% 0 -36 0 -200 -200 -237 KS NL29, B.V. NL - 100% 0 -13 0 -16 -16 -29 KS NL30, B.V. NL - 100% 0 -10 0 -12 -12 -22 KS NL31, B.V. NL - 100% 0 -13 0 -32 -32 -45 KS NL32, B.V. NL - 100% 0 -65 0 -116 -116 -181 KS NL33, B.V. NL - 100% 0 -27 0 -13 -13 -40 KS NL34, B.V. NL - 100% 0 -65 0 -76 -76 -141 KS NL35, B.V. NL - 100% 0 -15 0 -14 -14 -29 KS NL36, B.V. NL - 100% 0 -10 0 -27 -27 -38 KS NL37, B.V. NL - 100% 0 -17 0 -33 -33 -50 KS NL38, B.V. NL - 100% 0 -7 0 -15 -15 -22 KS NL39, B.V. NL - 100% 0 -8 0 -20 -20 -29 KS NL40, B.V. NL - 100% 0 -6 0 -13 -13 -19 KS NL41, B.V. NL - 100% 0 -10 0 -40 -40 -50 KS NL42, B.V. NL - 100% 0 -5 0 -16 -16 -20 KS NL43, B.V. NL - 100% 0 -13 0 -57 -57 -69 KS NL44, B.V. NL - 100% 0 -8 0 -29 -29 -37 KS NL45, B.V. NL - 100% 0 -16 0 -24 -24 -40 KS NL46, B.V. NL - 100% 0 -8 0 -12 -12 -20 KS NL47, B.V. NL - 100% 0 -6 0 -21 -21 -27 KS NL48, B.V. NL - 100% 0 -6 0 -34 -34 -40 KS NL49, B.V. NL - 100% 0 -5 0 -20 -20 -25 KS NL50, B.V. NL - 100% 0 -16 0 -14 -14 -29 Kronos Solar Projects Limited UK - 100% Ensors 0 22 0 709 709 731 KS SPV 46 Lim- ited UK - 100% Ensors 0 -28 0 -408 -408 -436 KS SPV 65 Lim- ited UK - 100% Ensors 0 -24 0 -107 -107 -131 KS SPV 69 Lim- ited UK - 100% Ensors 0 -8 0 -140 -140 -149 KS SPV 70 Lim- ited UK - 100% Ensors 0 -27 0 -50 -50 -76 KS SPV 71 Lim- ited UK - 100% Ensors 0 -16 0 -42 -42 -58 KS SPV 72 Lim- ited UK - 100% Ensors 0 -10 0 -81 -81 -90 KS SPV 73 Lim- ited UK - 100% Ensors 0 -7 0 -97 -97 -105 KS SPV 74 Lim- ited UK - 100% Ensors 0 -7 0 -162 -162 -169 KS SPV 75 Lim- ited UK - 100% Ensors 0 -10 0 -411 -411 -422 KS SPV 76 Lim- ited UK - 100% Ensors 0 -6 0 -81 -81 -88 KS SPV 77 Lim- ited UK - 100% Ensors 0 -6 0 -137 -137 -143 KS SPV 78 Lim- ited UK - 100% Ensors 0 -6 0 -47 -47 -53 KS SPV 79 Lim- ited UK - 100% Ensors 0 -6 0 -84 -84 -91
234 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL KS SPV 80 Lim- ited UK - 100% Ensors 0 -7 0 -122 -122 -129 KS SPV 62 Lim- ited UK - 100% 0 -279 0 -36 -36 -315 KS SPV 64 Lim- ited UK - 100% 0 -11 0 -44 -44 -55 KS SPV 67 Lim- ited UK - 100% 0 -10 0 -97 -97 -107 KS SPV 68 Lim- ited UK - 100% 0 -10 0 -59 -59 -69 KS SPV 81 Lim- ited UK - 100% 0 0 0 -54 -54 -54 KS SPV 82 Lim- ited UK - 100% 0 0 0 -149 -149 -149 KS SPV 83 Lim- ited UK - 100% 0 0 0 -110 -110 -110 KS SPV 84 Lim- ited UK - 100% 0 0 0 -77 -77 -77 KS SPV 85 Lim- ited UK - 100% 0 0 0 -52 -52 -52 KS SPV 00 Lim- ited UK - 100% 0 0 0 -188 -188 -188 Kronos Solar France, S.A.S. France - 100% 20 72 0 901 901 993 Fransol 11, S.A.S. France - 85% 0 -11 0 -18 -18 -30 Fransol 12, S.A.S. France - 85% 0 -30 0 -86 -86 -116 Fransol 13, S.A.S. France - 85% 0 -20 0 -19 -19 -39 Fransol 14, S.A.S. France - 100% 1,014 -6 0 -5 -5 1,003 Fransol 15, S.A.S. France - 85% 0 -35 0 -77 -77 -112 Fransol 16, S.A.S. France - 85% 0 -52 0 -20 -20 -72 Fransol 17, S.A.S. France - 85% 0 -15 0 -73 -73 -89 Fransol 18, S.A.S. France - 85% 0 -24 0 -23 -23 -47 Fransol 19, S.A.S. France - 85% 0 -13 0 -73 -73 -87 Fransol 20, S.A.S. France - 85% 0 -59 0 -106 -106 -165 Fransol 21, S.A.S. France - 100% 12 64 0 -20 -20 56 Fransol 22, S.A.S. France - 85% 0 -4 0 -72 -72 -76 Fransol 23, S.A.S. France - 85% 0 -11 0 -69 -69 -80 Fransol 24, S.A.S. France - 85% 0 -33 0 -24 -24 -57 Fransol 25, S.A.S. France - 85% 0 -21 0 -108 -108 -128 Fransol 26, S.A.S. France - 85% 0 -13 0 -74 -74 -87 Fransol 27, S.A.S. France - 100% 14 51 0 -21 -21 44 Fransol 28, S.A.S. France - 85% 0 -47 0 -31 -31 -78 Fransol 29, S.A.S. France - 85% 0 -13 0 -72 -72 -85 Fransol 30, S.A.S. France - 85% 0 -23 0 -20 -20 -43 Fransol 31, S.A.S. France - 85% 0 -16 0 -88 -88 -105 Fransol 32, S.A.S. France - 85% 0 -18 0 -21 -21 -39 Fransol 33, S.A.S. France - 85% 0 -10 0 -40 -40 -50 Fransol 34, S.A.S. France - 85% 0 -23 0 -53 -53 -76 Fransol 35, S.A.S. France - 85% 0 -10 0 -20 -20 -29 Fransol 36, S.A.S. France - 85% 0 -12 0 -25 -25 -37 Fransol 37, S.A.S. France - 85% 0 -25 0 -26 -26 -52 Fransol 38, S.A.S. France - 85% 0 -7 0 -50 -50 -57 Fransol 39, S.A.S. France - 85% 0 -13 0 -49 -49 -62 Fransol 40, S.A.S. France - 85% 0 -10 0 -46 -46 -56 Fransol 41, S.A.S. France - 85% 0 0 0 -73 -73 -73 Fransol 42, S.A.S. France - 85% 0 0 0 -47 -47 -47 Fransol 43, S.A.S. France - 85% 0 0 0 -49 -49 -49 Fransol 44, S.A.S. France - 85% 0 0 0 -91 -91 -91 Fransol 45, S.A.S. France - 85% 0 0 0 -56 -56 -56 Fransol 46, S.A.S. France - 85% 0 0 0 -436 -436 -436
235 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS GROUP COMPANIES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Fransol 47, S.A.S. France - 85% 0 0 0 -144 -144 -144 Fransol 48, S.A.S. France - 85% 0 0 0 -48 -48 -48 Fransol 49, S.A.S. France - 85% 0 0 0 -49 -49 -49 Fransol 50, S.A.S. France - 85% 0 0 0 -43 -43 -43 Kronos IB Vogt 15, S.A.S. France - 85% 0 -9 0 -24 -24 -32 Kronos IB Vogt 16, S.A.S. France - 85% 0 -8 0 -20 -20 -28 Kronos 18 Fain, S.A.S. France - 100% 160 -14 0 -4 -4 142 Kronos IB Vogt 19, S.A.S. France - 85% 0 -7 0 -57 -57 -65 Kronos IB Vogt 20, S.A.S. France - 85% 0 -9 0 -78 -78 -87 Kronos IB Vogt 22, S.A.S. France - 85% 0 -8 0 -25 -25 -33 Kronos IB Vogt 25, S.A.S. France - 85% 0 -8 0 -23 -23 -31 Kronosol 11, S.A.R.L. France - 85% 0 -59 0 -1 -1 -60 Kronosol 12, S.A.R.L. France - 100% 60 -5 0 -10 -10 45 Kronosol 13, S.A.R.L. France - 100% 189 -10 0 -42 -42 137 Kronosol 14, S.A.R.L. France - 100% 898 -21 0 -16 -16 862 Kronosol 15, S.A.R.L. France - 100% 237 -25 0 -9 -9 203 Fransol 51, S.A.S. France - 85% 0 0 0 -51 -51 -51 Fransol 52, S.A.S. France - 85% 0 0 0 -30 -30 -30 Fransol 53, S.A.S. France - 85% 0 0 0 -52 -52 -52 Fransol 54, S.A.S. France - 85% 0 0 0 -65 -65 -65 Fransol 55, S.A.S. France - 85% 0 0 0 -34 -34 -34 Fransol 56, S.A.S. France - 85% 0 0 0 -26 -26 -26 Fransol 57, S.A.S. France - 85% 0 0 0 -52 -52 -52 Fransol 58, S.A.S. France - 85% 0 0 0 -34 -34 -34 Fransol 59, S.A.S. France - 85% 0 0 0 -34 -34 -34 Fransol 60, S.A.S. France - 85% 0 0 0 -47 -47 -47 Fransol 61, S.A.S. France - 85% 0 0 0 -28 -28 -28 Fransol 62, S.A.S. France - 85% 0 0 0 -32 -32 -32 Fransol 63, S.A.S. France - 85% 0 0 0 -52 -52 -52 Fransol 64, S.A.S. France - 85% 0 0 0 -58 -58 -58 Fransol 65, S.A.S. France - 85% 0 0 0 -45 -45 -45 Fransol 66, S.A.S. France - 85% 0 0 0 -58 -58 -58 Fransol 67, S.A.S. France - 85% 0 0 0 -62 -62 -62 Fransol 68, S.A.S. France - 85% 0 0 0 -53 -53 -53 Fransol 69, S.A.S. France - 85% 0 0 0 -57 -57 -57 Fransol 70, S.A.S. France - 85% 0 0 0 -25 -25 -25
236 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS JOINTLY CON- TROLLED ENTITIES AND ASSOCIATES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Biomasas del Pi- rineo, S.A. Spain - 30% N.A. Biomass 136 101 0 0 0 238 Solar Siglo XXI, S.A. Spain - 25% N.A. Photovoltaic energy pro- duction 20 42 0 0 0 62 Sistemas Eólicos Tres Cruces, S.L. Spain - 25% N.A. Wind energy production 13 18 0 0 0 31 Desarrollos Ener- géticos del Val, S.L. Spain - 25% N.A. Wind energy production 34 256 0 0 0 290 Desarrollos Eóli- cos de Canarias, S.A. Spain - 45% PwC Wind energy production 813 1,365 0 841 841 3,019 Parque Eólico Sierra del Ma- dero, S.A. Spain - 42% KPMG Wind energy production 7,194 43,917 0 3,257 3,257 54,369 Desarrollos Ener- géticos Canarios, S.A. Spain - 50% N.A. Wind energy production 7 -17 0 0 0 -10 Parque Eólico Belmonte, S.A. Spain - 30% KPMG Wind energy production 120 15,004 0 890 890 16,015 Evolución 2000, S.L. Spain - 49% PwC Wind energy production 118 23,507 0 3,570 3,570 27,195 Eos Pax IIa, S.L. Spain - 49% Deloie Wind energy production 6 2,641 0 -98 -98 2,548 Unión de Gene- radores de Energía, S.L. Spain - 50% PwC Wind energy production 23 1,298 0 1,568 1,568 2,889 Promotores Villa- rrubia Elevación, S.L. Spain - 33% 3 0 0 0 0 3 Promotores Vil- larrubia Morata 200KV, S.L. Spain - 44% 3 0 0 0 0 3 Centrale Eolienne D'Occey, S.A.S. France - 51% 485 -1 0 -3 -3 481 Hytlantic, S.A. Portugal - 29% 50 1,156 0 -522 -522 684 Eólica de São Julião, Lda. Portugal - 45% na Wind energy production 500 12,057 -3,151 5,522 5,522 14,928 Evoikos Voreas A.E. Greece - 51% N.A. Wind energy production 196 2,187 0 -416 -416 1,967 Sofrano A.E. Greece - 51% N.A. Wind energy production 900 1,525 0 -308 -308 2,117 OW Offshore, S.L. Spain - 50% PwC Holding 72,205 780,350 -72,568 -15,613 -15,613 764,375 Goldfinger Ven- tures LLC USA - 50% PwC Photovoltaic energy pro- duction 115,559 33,326 0 9,638 11,281 160,167 Goldfinger Ven- tures II LLC USA - 50% PwC Photovoltaic energy pro- duction 151,780 46,590 0 17,659 16,790 215,159 Solar Ventures Acquisition LLC USA - 50% N.A. Photovoltaic energy pro- duction -41,600 44,809 0 3 3 3,212 2019 Vento XX LLC USA - 20% PwC Wind energy production 516,800 26,836 -27,055 26,204 45 516,627 Riverstart Ven- tures LLC USA - 20% PwC Photovoltaic energy pro- duction 162,129 14,338 0 29,226 15,382 191,849 2018 Vento XIX LLC USA - 20% PwC Wind energy production 405,809 -432 0 23,304 -173 405,205 2017 Vento XVII LLC USA - 20% PwC Wind energy production 422,602 -749 0 36,748 -223 421,631 Flat Rock Windpower II LLC USA - 50% KPMG Wind energy production 199,605 -117,913 0 -7,248 -7,408 74,284 Flat Rock Windpower LLC USA - 50% KPMG Wind energy production 507,126 -306,498 0 -18,372 -18,775 181,853 Blue Canyon Windpower LLC USA - 25% PwC Wind energy production 57,784 -50,935 0 0 796 7,645 Riverstart Devel- opment LLC USA - 20% N.A. Photovoltaic energy pro- duction 0 0 0 0 0 0 Lomartico In- vestments, Sp. z o.o. Poland - 50% N.A. 1 -1 0 1 1 0 Medsteville In- vestments, Sp. z o.o. Poland - 50% N.A. 1 0 0 0 0 0 Ondentille In- vestments, Sp. z o.o. Poland - 50% N.A. 1 -1 0 1 1 0 Sunseap Energy (Cambodia) Co., Ltd. Cambodia - 49% 162 -115 0 1 1 48 Sunseap Asset (Cambodia) Co., Ltd. Cambodia - 51% 1,274 -740 0 29 29 563 Sunseap LCS Energy Sdn. Bhd. Malaysia - 49% 10 1,582 0 269 269 1,861
237 EDPR Individual Annual Report 2024 Part II THOUSAND EUROS JOINTLY CON- TROLLED ENTITIES AND ASSOCIATES REGISTERED OF- FICE DIRECT % INDIRECT % AUDITOR ACTIVITY CAPITAL RESERVES OTHER EQ- UITY ITEMS NET PROFIT TOTAL TO- TAL EQUITY CONTINUING OP- ERATIONS TOTAL Cenergi Sunseap Energy Solutions Sdn. Bhd. Malaysia - 40% 788 3,052 0 319 319 4,158 RL Sunseap En- ergy Sdn. Bhd. Malaysia - 49% Crowe Malay- sia PLT Photovoltaic energy produc- tion 241 260 0 -43 -43 458 Powersource Sunseap Corp. Philippines - 40% N.A. Photovoltaic energy produc- tion 0 0 0 0 0 0 Powersource Sunseap Solar Solution Corp. Philippines - 40% N.A. Photovoltaic energy produc- tion 0 0 0 0 0 0 Kronos IBV UK GmbH Germany - 50% N.A. Photovoltaic energy produc- tion 25 -1,455 -142 -70 -70 -1,642 KSD 20 UG Germany - 50% N.A. Photovoltaic energy produc- tion 1 -7 0 -26 -26 -33
11 EDPR Individual Annual Report 2024