Redeia Corporacion Sa · BME:RED
Redeia Corporacion Sa — Redeia — Shareholder Meeting (2023)
51 slides from Redeia Corporacion Sa's shareholder meeting presentation, Jun 6, 2023
Slide 1: Shareholders General Meeting 2023
redeia El valor de lo Shareholders General Meeting eecce 2023 ee aes oe Fe eS
Slide 2: Flexibility and a forward-looking approach in the face of uncertainty
| (f a’ ia 4 f ; : ; ‘ f , . 7 % 2022 1e,! . Flexibility anda forward- | looking approach in the face of uncertaint —_— aw”
Slide 3: The ecological and digital transition
The ecological and digital transition as a
Slide 4: Spain, the renewable engine of Europe
Spain, the renewable engine of Europe —/ ~ »
Slide 5: Authorities in the integration of renewables
Authorities in the integration of renewables 60% renewables installed p 42 % renewables electrici generation
Slide 6: Slide 6
Slide 7: Universal connectivity for digital transformation
tJ Universal 11 connectivity for digital tcansform ate
Slide 8: Reintel
e ® = > Reintel 53,000 km of optic fiber
Slide 9: Hispasat
hispasat Hispasat A leap into space for global connectivity
Slide 10: e \is aH ° 7, — zs Z
e \is aH ° 4 7, — zs Z
Slide 11: Elewit: commitment to innovation and technological development
Elewit a eX if Clear commitment to ° : | : innovation and techno! logic al development
Slide 12: Slide 12
Slide 13: Slide 13
Slide 14: European Taxonomy
Furopean Taxonomy Red Eléctrica is 100 % environmentally sustainable
Slide 15: 2023-2025 Sustainability Plan
‘ 2023-2025 Sustainability Plan -~ lines of action, - objectives, ik? \Haetions,
Slide 16: Redeia's priorities
Redeia’s priorities; ~ ~_/ people, ~~, Ti onde capital, and.g6 od governance
Slide 17: Reducing emissions and offsetting
Reducing scope 1 and 2 emissions "em 30 % and offsetting 100 %
Slide 18: Innovative projects to reduce inequalities in rural areas
Innovative projects to, i PF reduce inequalitie€s sat: in cural ES iA
Slide 19: Committed to an honest, ethical and diverse culture
Committed to an honest, ethical and diverse julture
Slide 20: Due diligence and prevention of corruption
._~- = Due diligence and prevention . of corruption, indispensable 7 for responsible management
Slide 21: Slide 21
Slide 22: Robust, transparent governance
Robust, transparent governance is the key to Redeia’s success
Slide 23: Protocol for Board involvement with our professionals
Protocol for Board Involvement with our professionals
Slide 24: New Composite Report and measuring social value
ty New Composite Report and measuring social value
Slide 25: Slide 25
Slide 26: Spain's opportunity: autonomy and re-industrialization of Europe
Spain’s opportunity: pillar of the autonomy and re-industrialization of Furope
Slide 27: Slide 27
Slide 28: Redeia: lever for competitive sustainability
| | Redeia Lever for <a competiti ive sustainabill Valuing theiesse * ntials
Slide 29: Shareholders General Meeting 2023
Shareholders General Meeting eeeesn 2023 redeia El valor de lo
Slide 30: 2022: a year of increasing volatility and complexity
ME 2022: a year of increasing volatility and complexity redeia At Redeia we are doubling down on our efforts to reinforce the green transition and digital transformation. We have accelerated compliance with our Strategic Plan by increasing investments intended to facilitate the decarbonization of th
Slide 31: Making steady progress in the ecological transition
ME) Making steady progress in the ecological transition redeia 2021-2026 Electricity Planning Excellent roadmap to design a country that has cleaner energy and is geographically more connected and cohesive. 6.964 B € in investments * Development of new core ideas. * New interconnections between syst
Slide 32: We are the engine for ensuring global connectivity
ME Weare the engine for ensuring global connectivity redeia Hispasat Reintel We are working to reduce the digital divide and achieve global connectivity ; eeoe0en Reinforcing satellite New perspectives following coverage with the launch of the entry of KKR as a Amazonas Nexus. strategic partner.
Slide 33: Creating sustainable, smart, resilient networks
MZ Creating sustainable, smart, resilient networks redeia TSO activity in 2022 High levels of service quality: national transmission grid availability rate above 98%. ¢ Integration of a record amount of wind and photovoltaic energy into the electricity system. © Sustainable development of the transm
Slide 34: Development of new electrical axes
Development of new electrical axes Peninsula: © Baza-Caparacena electrical axis. ¢ Astillero-Cacicedo underground line. e Advances in the Guefies-Itxaso line. @ Expansions of over 30 substations. Junta General de Accionistas 2023 Creating sustainable, smart, resilient networks redeia Islands: © Buny
Slide 35: Reinforcing international interconnections
HZ Reinforcing international interconnections redeia » Last phase of the project's administrative processing. * Signing the main contracts for its execution. * Works are expected to start before the end of the year. Spain-France electricity interconnector through the Bay of Biscay e Receipt of a fav
Slide 36: We promote energy storage
ME We promote energy storage redeia Salto de Chira pumping station (Gran Canaria) 2022 Milestones: 2023 is a key year with the initiation of: e Commencement of construction work on the The plant’s underground works. desalination plant. e Approval of the plant’s remuneration methodology, with recogni
Slide 37: An increasingly decarbonized electricity system
MZ Anincreasingly decarbonized electricity system redeia Structure of electricity generation in 2022 (%) Turbine pumping Nuclear 1.4% 20.3% Hydraulic cad 6.5% Renewable energy © Over 60% of the installed power in ong Spain is renewable. Fuel + Gas Solar photovoltaic e 42% of electricity generation c
Slide 38: Consolidating diversification businesses
HX Consolidating diversification businesses redeia Redinter e New commissioning in Chile and Peru. e Acquisition of five lines in Brazil through Argo Energia. Hispasat e Increased satellite capacity with the launch of Amazonas Nexus. e Acquisition of Axess Networks, a satellite connectivity service
Slide 39: We remain firmly committed to innovation
MI Weremain firmly committed to innovation Flewit, the group’s technology platform 2022 Milestones e 79 projects managed with a total 31.3 M€ innovation expenditure of 8.3 ME. total innovation efforts © 23 ME of investments associated with the Corporate Venture Capital model. We turn challenges into
Slide 40: Financing linked to sustainable criteria
EZ Financing linked to sustainable criteria redeia Sustainable financing aligned with the European Taxonomy a6e 47% of hareholdi 500 M€ of green hybrid bonds issued to financing ea reinforce the strength of the capital structure. linked to ESG criteria responsible investments European Union Taxonomy
Slide 41: Stable results in a complex environment
MZ Stable results in a complex environment redeia Key figures 2.065 z< 1.491 Be 665 me Income* EBITDA Net Profit 1.983 BE in 2021 1.499 BE in 2021 681 M€ in 2021 1.032 s< 4.634 s« 1.147 Be Investments Net Debt FFO 576 ME in 2021 5.648 BE in 2021 1.178 BE in 2021 * Includes turnover and share in the
Slide 42: Group revenue performance
MEX Group revenue performance redeia Total revenue and investees’ financial results BE 41 8 re 1.983 — 11 2021 TsO International Satellite Fiber Optics Other, 2022 corporate and consolidation adjustments Increased revenues driven by growth in diversification businesses. Junta General de Accionistas
Slide 43: Evolution of operating costs
EZ» Evolution of operating costs Comparable and non-comparable operating costs ME +165 ME +29.9% 550 Non-comparables+147M€ «ss eee Operating costs Chira SoriaCost Change in perimeter O&M Plan Transformation Other recurring Operating costs 2021 Plan costs 2022 Containment of comparable operating cost
Slide 44: EBITDA decreased by 0.5% due to TSO tariff adjustment
MEX EBITDA decreased by 0.5 % due to TSO tariff redeia adjustment Without the tariff adjustment, EBITDA would have increased by 1.8% Mé€ | +1.8% ml 35 eee 1,499 40 14 2 1 1,491 | 7 a= D d _ EBITDA 2021 TSO International Satellite Fiber optics Other 2022 EBITDA TSO tariff 2022 EBITDA reported adjustm
Slide 45: Net Profit down 2.3%
and higher amortizations Net Profit down 2.3 % affected by EBITDA evolution redeia Without the TSO tariff adjustment, net income would have increased by 1.5% ME +1.5% | 681 13 26 (691 —— 12 eel 665 | wy 7 = 11 23 J 2021 Net Profit EBITDA Amortizations Financial Rdo. Is Minority 2022 BDI TSO tariff 2
Slide 46: Group investments increase by 80%
Group investments increase by 80% Strong growth in TSO investments, exceeding €500 million ME +79.3% 325* 1,032 422.9 % 576 = +25 % 2021 Organic Inorganic 2022 investments Junta General de Accionistas 2023 investments* =TSO mlnternational m Satellite Fiber optics mOther redeia 80% of the group's org
Slide 47: Committed to a strong and balanced capital structure
EX») Committed to a strong and balanced capital structure redeia Firm commitment to credit soundness 4.634 Be Net financial debt 5.648 BE in 2021 3.1 x Net Debt/EBITDA 3.8 x in 2021 1 0 €/share Dividend 2022 Junta General de Accionistas 2023 89x 1.62% Fixed-rate debt Cost of debt 81 % in 2021 1.52 %
Slide 48: 2023 turning point in TSO
MX 2023 turning point in TSO redeia Accelerating investments to near record highs TSO Investments (M€) Re TSO © Greater commissioning and updating of OS B77) gaa remuneration. ® Progress in the Salto de Chira project. ( International 532 439 414 421 399 413 405 426 ¢ Contribution of new lines acquir
Slide 49: Investments 2021-2025
Investments 2021-2025 Be ~4.800 4.400 410% ee ~3.700 <= — Initial Plan New Objective 2021-2025 2021-2025 Junta General de Accionistas 2023 Increase in investment objectives = TSO im International Telecommunications mw Other redeia Boost in TSO investments, a catalyst for the transition toa green eco
Slide 50: 2021-2025 Objectives
ME 2021-2025 Objectives redeia Attractive shareholder payouts and sound financial structure 2025 Financial Efficiency Politica de dividendo sostenible = MARGIN 1 €/share £. EBITDA >70~% Pay floor 0.8 €/share ~~ RATIO y te alla FFO/Net Debt >15% y y ok RATIO 7 j S32 Net Debt/EBITDA <5x : 2021 2022 20
Slide 51: Redeia: the value of the essential
redeia El valor de lo esencial red eléctrica reintel hispasat redinter elewit