Iberdrola SA

These recommendations set out the elements for climate targets and associated plans to be comprehensive and avoid \"green washing\": net zero emissions must be achieved by 2050 along the entire value chain including a pathway of interim targets; the plan must be transparent, science-based and backed by a robust investment plan based on renewable energy and with a focus on just transition and biodiversity protection; and companies' public and lobbying activities must be geared in the same direction to promote climate ambition at the private and governmental level.

From the corporate governance standpoint, the Board of Directors is vested with the power to approve and supervise the overall strategy on engagement with the Stakeholders of the Group's companies, endeavouring to ensure the proper coordination thereof. [...] In order to do so, the Corporate Sustainability Division (or such division as assumes the powers thereof at any time), through the Sustainability and Reputation Committee (or such committee as assumes the powers thereof at any time), promotes and coordinates the actions necessary to comply with this *Policy* and the *Global Engagement Model*, which has the purpose of ensuring that Stakeholder engagement is managed and documented in accordance with a common methodology, respecting the particularities of each country, territory and business, and that suitable channels and mechanisms are available for an appropriate relationship, as well as to promote best practices in this area. [...] Pursuant to the Group's organisational structure, inspired by the principle of subsidiarity, the country subholding companies and the head of business or country companies, within their purviews, are responsible for implementing the strategy regarding engagement with their respective Stakeholders and the *Global Engagement Model*, as well as maintaining direct discussion and dialogue therewith, especially with those who act within the environment of the facilities of their businesses. For all of the foregoing reasons, the country subholding companies and the head of business or country companies shall be endowed with the resources and structure necessary for them to carry out these activities.

For the implementation and monitoring of the provisions of this *Policy*, the Board of Directors is assisted by the Innovation, Environment and Quality Division (or such division as assumes the powers thereof at any time), which shall coordinate with the corresponding divisions of the country subholding companies, further developing the procedures required for such purpose.

So as to be always focused on the best compliance with and implementation of the policies, the Company has several corporate bodies and internal **committees that ensure the monitoring of those** **policies. The amendment of the By-Laws approved** **by the shareholders in June 2021 formalises the** **obligation of the Board of Directors to approve,** supervise and regularly report on the Climate Action Plan. This Statement of Non-Financial Information is the means by which the company and its Board of Directors fulfil their annual reporting commitment in this area. Climate change is a management concern for the entire company, and ultimate responsibility lies with the Board of Directors, which has the following consultative committees comprising entirely independent members with specific competencies in this area: [...] **Sustainable Development Committee** This committee annually reviews that the content of this document is in line with the Company's sustainable development strategy and that it includes a statement of progress on the achievement of the climate action plan. From 2021, the competencies envisaged in the Regulations of the Sustainable Development Committee include the following responsibilities in relation to the Climate Action Plan: ##### ¬Report on the climate action plan to the Board of Directors prior to its approval, and monitor and review its degree of achievement and its successive updates. ##### ¬Determine the guidelines, criteria and general principles to be applied in drawing up the statement of non-financial information. ##### ¬Verify that the content of the statement of non-financial information is in line with the Company's sustainable development strategy and that it mentions the degree of achievement of the climate action plan approved by the Board of Directors, following a report from the committee and, where appropriate, any updates thereto. [...] **Audit and Risk Supervision Committee** The responsibilities concerning the internal control and risk management systems, as set out in the Regulations of the Audit and Risk Supervision Committee, include all matters pertaining to the risks stemming from climate change. For some time now, the Iberdrola group has had a well-established, comprehensive risk system in place. The _[General Risk Control and Management Policy approved](https://www.iberdrola.com/corporate-governance/governance-sustainability-system/corporate-governance-policies/general-risk-control-management-policy)_ by the Board of Directors of the Group's parent company, aims to "establish the basic principles and general framework for the control and management of all kinds of risks facing the Company and the other companies of the Group", including, therefore, those associated with climate change. The system's ultimate objective is to i) identify risks and establish management measures, ii) monitor and measure these risks, and iii) comply with the new European regulation on non-financial reporting (Corporate Sustainability Reporting Directive, or "CSRD") and the standards approved for its implementation (European Sustainability Reporting Standards, or "ESRS"). Further general information on the system can be _[found in the General Risk Control and Management](https://www.iberdrola.com/corporate-governance/governance-sustainability-system/corporate-governance-policies/general-risk-control-management-policy)_ _[Policy, section E. "Risk management and control](https://www.iberdrola.com/corporate-governance/governance-sustainability-system/corporate-governance-policies/general-risk-control-management-policy)_ systems" of the 2023 Corporate Governance Report, the "Long-term risks and opportunities. _[Comprehensive Risk System section of this report,](https://www.iberdrola.com/corporate-governance/governance-sustainability-system/corporate-governance-policies/corporate-risk-policies)_ section 4 of the Management Report of the consolidated 2023 Annual Financial Report and the Risk section of the Integrated Report of April 2024. In identifying (the taxonomy applied is the one proposed by the TCFD), measuring and monitoring climate change risks, which are essentially risks already existing in our taxonomy, the Board of Directors relies on: ##### ¬The coordination and holistic reporting work carried out by the Risk Division's expert function, under an ERM approach, to the Audit and Risk Supervision Committee of the Board of Directors. ##### ¬Regular briefings by corporate function and business divisions, in particular the ESG Division and the Innovation, Sustainability and Quality Division (which has a specialised Climate Change and Alliances unit). **The Risk Division prepares a quarterly monitoring** **report on the group's main risks, based on its** own analysis and the contribution of the businesses and numerous corporate functions, which includes estimated impacts, likelihood and reputational implications. Climate change-related risks are among the risks identified. Although this report focuses on the short term, medium- and long-term analysis is carried out through specific studies and tasks, using a variety of techniques including: ##### ¬Scenario analysis and stress tests ¬Sensitivities ¬Prediction maps for natural phenomena ¬Risk prioritisation based on variables beyond impact and likelihood, such as exposure and vulnerability

The Board of Directors shall design, evaluate and continuously review the Governance and Sustainability System, shall approve the Purpose and Values of the Iberdrola Group and shall pay special attention to the approval and updating of the corporate policies, which further develop the principles reflected in these By-Laws and in the other provisions of the Governance and Sustainability System and codify the guidelines that should govern the activities of the Company, its shareholders and the other companies of the Group. [...] In particular, the Board of Directors shall approve and regularly update a climate action plan to achieve neutrality in the emission of greenhouse gases by 2050. This plan shall set out the intermediate objectives, the strategy and the investment plan designed to meet these objectives and shall define the methodologies used to assess the implementation thereof."
"The Company's Audit and Risk Supervision Committee shall, in accordance with the provisions of its regulations, provide the Board of Directors with annual information on the tax practices and standards applied by the Company and on the level of compliance with the tax strategy by the companies of the Group during the financial year. In addition, in the case of transactions or matters that must be submitted to the Board of Directors for approval, it shall report thereto on the tax consequences thereof when they constitute a significant factor. [...] The Company's Global Tax Division (or such division as assumes the powers thereof at any time) shall approve and periodically review guidelines for the evaluation and management of tax risk applicable to all companies of the Group, which shall include objective standards to classify transactions based on the tax risk thereof, as well as different procedures for the approval thereof. It shall also act as the body responsible for tax compliance within the Company, in coordination with the Company's Compliance Unit, proactively and independently endeavouring to ensure compliance with tax provisions and the tax strategy defined at the Group level."
"For the implementation and monitoring of the provisions of this Policy, the Board of Directors is assisted by the Climate Change and Partnerships Division (or such division as assumes the powers thereof at any time), which shall establish a procedure for regular monitoring and reporting to the governance bodies and which shall act in coordination with the corresponding divisions of the country subholding companies, developing the necessary procedures for such purpose.

Beyond its own activities, Iberdrola embraces an ambitious and robust approach to climate advocacy in support of the 1,5oC scenario, actively engaging within a diverse range of organizations across various sectors, including international organizations, industrial associations, alliances, foundations, think tanks, and NGOs. [...] Chief Sustainability Officer (CSO): Aspects relating to global climate action in Iberdrola and environment issues lays in this Division. Within this organisation there is a specific Climate Change and Alliances Division, leading climate policy advocacy, climate action engagement and alliances linked with climate change. This Division is in the Chairman's Area, and reports directly to the Chairman / CEO/ Board of directors, quarterly. They coordinate and update overall strategy and activities related to climate advocacy and engagement with the global climate agenda and climate action plan, or biodiversity plan. They lead a specific Working multidisciplinary group from the main corporative and business areas to assess and coordinate bimestrial the state of the SDG action, regarding SDG 13 of Climate Change. Main climate change related activities imply: - The development and monitoring of the Climate Action Plan – Reviewing the proposals for long term incentives- The annual revision of the operational limits of the GHG emissions inventory - The revision of emission factors - the enactment of the environmental targets for the environmental management systems (ISO14001), - The execution of the methodology for calculating direct & indirect emissions of IBERDROLA and the accomplishment of the inventory and the Carbon Footprint Report, -Climate lobbying activities and alliances, -Climate scenarios -Technology innovation – Other incentives to employees linked with climate change awareness. [...] In 2022, there were 8 meetings to discuss topics pertaining to climate change within the corporate decision-making boards of Iberdrola. In particular, the directors of Innovation and Sustainability and of Climate Change and Alliances met on a recurring basis with the Sustainable Development Committee, and the director of Risk and Internal Assurance met with the Audit and Risk Supervision Committee. Both environmental risks and the risks associated with climate change were discussed at these meetings, as were the corresponding alert mechanisms to properly monitor them. The CSO presented at several meetings in the Sustainable Development Committee the proposed amendment to the Climate Action Plan, which was ultimately approved by the Board of Directors in October 2022."
"Participation in the public life of the communities in which Iberdrola has a presence is an essential facet of its activities. Company engagement with the communities and, at the same time, conveying its positions to the various Stakeholders are two of the objectives of Iberdrola's public activities. Iberdrola is regularly present in public and private associations, participates in public consultation processes, and maintains contacts with public administrations, among other activities. This participation is governed by compliance with the laws of each country, as well as with Iberdrola's internal policies and regulations. The Iberdrola group participated in 532 organisations in 2022, contributing to their support through the payment of membership fees and other items. Iberdrola participates, both at the global level and in the countries in which it has a presence, in various entities and associations defending its business interests and those of its main Stakeholders. As indicated above, the company decides on its participation in these organisations taking into account the consistency with the Corporate Purpose and Values, among which the energy transition and the fight against climate change are of paramount importance. In this area, the group carries out an annual analysis of the degree of alignment of these organisations with the Paris Agreement and the promotion of the energy transition, as well as with the company's Statements in these areas. As a result of this assessment, the positioning of the organisations is classified as aligned with, neutral or opposed to the one maintained by the company in the related area, and serves as basis for decision-making regarding Iberdrola's future participation therein. The result of the analysis conducted in 2022 shows that 67% of the organisations in which Iberdrola participates are aligned with the company's statement regarding the Paris Agreement and the energy transition. The remaining cases (33%) correspond to organisations whose alignment has been classified as neutral.

###### THE CLIMATE ACTION POLICY WITHIN THE GOVERNANCE AND SUSTAINABILITY SYSTEM

Governance and sustainability system

The governance and sustaina­bility system **constitutes the** **internal regulation of Iber­**

###### A system

**drola and its Group. It was**

###### focused on THE

established to provide a

###### ENVIRONMENT,

regulatory basis to en­ COMMITMENT

###### TO SOCIETY AND

sure the Company fulfils

###### CORPORATE

its corporate purpose,

###### GOVERNANCE

adheres to its values and achieves its business goals. It is a further deve­ **lopment of the previous corporate governan­** **ce system and is at the forefront of the relevant** best international practices. It addresses the ESG (Environmental, Social and Governance) criteria.

###### Bylaws

The system is based on the Bylaws, which reflect **the company's purpose and values, and define** **the Iberdrola project and its concept of social** **interest.**

###### Code of Ethics

The code of ethics is the company's **guide to** **behaviour that seeks to be the driving force** behind a **culture based on ethics and on a** **commitment** **to** **sustainable** **development,** shared by all those who participate in the Group's value creation chain.

###### Climate action policy

**In 2009 Iberdrola became a worldwide** **pioneer** when it incorporated

Driving

**combating climate change into its**

adaptation

**previous corporate governance** and

mitigation

**system by approving the first** policy to directly address this issue. The current Combining

environmental

climate action policy frames control and

monitoring

**Iberdrola's** **strategy** **and** with climate

variables

**business** **model** **aligned** **with the Paris Agreement**

Championing

**and** **the** **2030** **Agenda[1]** climate agenda in the fight against climate milestones and

encouraging

change. In it, Iberdrola private sector commits to maintaining its participation **leading** **position** (directly and in partnership) **by raising** **awareness (impacts, challenges** and the benefits of its achievement) suppliers **and contributing to a carbon-neutral** **and sustainable future.**

###### Corporate policies and regulations

These establish the **guidelines required** **for** **aligning our actions with Iberdrola's corporate** **purpose. There are policies specifically focused** on the environment and climate change.

###### 2 | Governance that incorporates climate action

--NEW-PAGE--

�Risks and opportunities arising from climate change and reporting thereon.

�Monitoring of the Next Generation EU Programme.

�Energy transition road map.

�Follow-up of the sustainability-related activities.

The policy considers the implementation of the recommendations of the _Task Force on Climate-_ _related Financial Disclosures (TCFD) and those_ of other reference organisations for identifying and reporting on long-term risks related to climate change.

###### GOVERNANCE STRUCTURE FOR MONITORING CLIMATE ACTION

To always ensure the most effective compliance with and implementation of policies, several **corporate bodies and internal committees** **are** **in place for monitoring them. The corporate** **bylaws approved by the General Shareholders'** **Meeting of June 2021 established the Board** **of Directors' obligation to regularly** approve, oversee and report on the climate action plan.

In response to the need for the professionalisation, diversification and classification of significant subjects, the Board of Directors has a **training** **programme designed to keep the knowledge** **of its members updated. As well as the training** sessions, a selection of reports, articles and other publications is published on the Board of Directors' website containing information about the global climate agenda, scientific analyses, regulations and trends in climate change matters and new decarbonisation technologies, etc.

In turn, the **structure of the remuneration** **received by the executive directors and senior** **management team** takes economic-financial, operational and sustainability aspects into account. A long-term remuneration plan was approved in April 2020 (Strategic Bonus 2020-2022), with parameters linked to the Strategic Development Goals, such as reducing the average intensity of CO2emissions and increasing the proportion of suppliers subject to sustainable development standards, among others.

###### Priority lines of action of the climate action policy to be promoted:

�Formalise and **communicate the Climate**

**Action Plan and its objectives.**

�Continue to develop an energy transition

based on the **decarbonisation** **and** **electrification of the economy.**

�Integrate climate science and **adaptation**

**and resilience criteria into the activity and** into the development and management of facilities.

�Analyse the **physical risks of climate**

change and others related to the energy transition.

�Supervise the GHG emissions inventory

for monitoring and controlling it.

�Develop campaigns, workshops and educational resources to **train employees** in climate action.

�Collaborate with third parties on climate

action, particularly with the United Nations Framework Convention on Climate Change.

�Support public policies and strategies

that address the climate change problem.

�Lead the main international indices on the

fight against climate change.

�Disseminate the results and/or actions of

Iberdrola regarding the fight against climate change.

�Establish the mechanisms needed to ensure

**the application of the Policy.**

###### Report on the climate change-related activities of the Board of Directors and its committees in 2020

###### Training and information sessions - Audit and Risk Supervision Committee

�Risks arising from the performance of activities with an impact on climate change and alert

mechanisms of these types of risk.

###### Training documents on the Director's website

�Outcome of the Madrid Climate Summit (COP 25) and outlook for 2020: Iberdrola negotiations,

announcements and participation.

�Scientific analyses of climate science and the impact of COVID-19 on the Climate Change

Action Plan.

�The European Commission's Action Plan on Sustainable growth financing.

###### Priorities for 2021

The Board of Directors, led by its chairman, shall be the body responsible for promoting, establishing and supervising the overall strategy for engaging the Company's shareholders in corporate life, promoting the main principles of conduct provided for in the preceding section of this *Policy*. [...] However, in the exercise of the aforementioned powers, both the Board of Directors and the chairman thereof may delegate the management, supervision and promotion of the effective operation of the shareholder engagement channels and instruments to the Finance, Control and Corporate Development Division (or to such division as assumes the duties thereof at any time) and therein to the Investor Relations Division (or to such division as assumes the duties thereof at any time), as well as to such other Company divisions or professionals as they deem advisable. The divisions or persons to whom such actions are delegated shall periodically report to the chairman of the Board of Directors on the messages exchanged with the shareholders, as well as any other significant aspect noted during the exchange with them. In turn, the Chairman shall report thereon to the Board of Directors in order to take the measures required to fulfil the purposes of this *Policy* and specifically to take into account the proposals of the shareholders.

For the implementation and monitoring of the provisions of this *Policy*, the Board of Directors is assisted by the Innovation, Environment and Quality Division (or such division as assumes the powers thereof at any time), which shall coordinate with the corresponding divisions of the country subholding companies, further developing the procedures required for such purpose.

For the implementation and monitoring of the provisions of this *Policy*, the Board of Directors is assisted by the Climate Change and Partnerships Division (or such division as assumes the powers thereof at any time), which shall establish a procedure for regular monitoring and reporting to the governance bodies and which shall act in coordination with the corresponding divisions of the country subholding companies, developing the necessary procedures for such purpose.

So as to be always focused on the best compliance with and implementation of the policies, the Company has several corporate bodies and internal committees that ensure the monitoring of those policies. The amendment of the By-Laws approved by the shareholders in June 2021 formalises the obligation of the Board of Directors to approve, supervise and regularly report on the Climate Action Plan. This Statement of Non-Financial Information is the means by which the company and its Board of Directors fulfil their annual reporting commitment in this area. Climate change is a management concern for the entire company, and ultimate responsibility lies with the Board of Directors, which has the following consultative committees comprising entirely independent members with specific competencies in this area: [...] Sustainable Development Committee This committee annually reviews that the content of this document is in line with the Company's sustainable development strategy and that it includes a statement of progress on the achievement of the climate action plan. From 2021, the competencies envisaged in the Regulations of the Sustainable Development Committee include the following responsibilities in relation to the Climate Action Plan: - Report on the climate action plan to the Board of Directors prior to its approval, and monitor and review its degree of achievement and its successive updates. - Determine the guidelines, criteria and general principles to be applied in drawing up the statement of non-financial information. - Verify that the content of the statement of non-financial information is in line with the Company's sustainable development strategy and that it mentions the degree of achievement of the climate action plan approved by the Board of Directors, following a report from the committee and, where appropriate, any updates thereto. [...] Audit and Risk Supervision Committee The responsibilities concerning the internal control and risk management systems, as set out in the Regulations of the Audit and Risk Supervision Committee, include all matters pertaining to the risks stemming from climate change. For some time now, the Iberdrola group has had a well-established, comprehensive risk system in place. The General Risk Control and Management Policy approved by the Board of Directors of the Group's parent company, aims to "establish the basic principles and general framework for the control and management of all kinds of risks facing the Company and the other companies of the Group", including, therefore, those associated with climate change. The system's ultimate objective is to i) identify risks and establish management measures, ii) monitor and measure these risks, and iii) comply with the new European regulation on non-financial reporting (Corporate Sustainability Reporting Directive, or "CSRD") and the standards approved for its implementation (European Sustainability Reporting Standards, or "ESRS"). Further general information on the system can be found in the General Risk Control and Management Policy, section E. "Risk management and control systems" of the 2023 Corporate Governance Report, the "Long-term risks and opportunities. Comprehensive Risk System section of this report, section 4 of the Management Report of the consolidated 2023 Annual Financial Report and the Risk section of the Integrated Report of April 2024. In identifying (the taxonomy applied is the one proposed by the TCFD), measuring and monitoring climate change risks, which are essentially risks already existing in our taxonomy, the Board of Directors relies on: - The coordination and holistic reporting work carried out by the Risk Division's expert function, under an ERM approach, to the Audit and Risk Supervision Committee of the Board of Directors. - Regular briefings by corporate function and business divisions, in particular the ESG Division and the Innovation, Sustainability and Quality Division (which has a specialised Climate Change and Alliances unit). [...] The Risk Division prepares a quarterly monitoring report on the group's main risks, based on its own analysis and the contribution of the businesses and numerous corporate functions, which includes estimated impacts, likelihood and reputational implications. Climate change-related risks are among the risks identified. Although this report focuses on the short term, medium- and long-term analysis is carried out through specific studies and tasks, using a variety of techniques including: - Scenario analysis and stress tests - Sensitivities - Prediction maps for natural phenomena - Risk prioritisation based on variables beyond impact and likelihood, such as exposure and vulnerability [...] At management level, three key areas report directly to the chairman, the CEO and the Board of Directors on specific climate change-related issues such as emissions monitoring and reduction action plans, alignment with the SDGs, risks and opportunities, and mitigation and adaptation policies or actions. - Innovation, Sustainability and Quality Division: aspects relating to global climate action at Iberdrola and other environmental issues such as biodiversity or the circular economy fall under the responsibility of the Innovation, Sustainability and Quality Division. This organisation has a dedicated Climate Change and Alliances Division, leading climate change policies and alliances. This Division falls within the Chairman's Area, and reports directly to the above-mentioned corporate bodies on a quarterly basis. They are responsible for leading the coordination and updating of certain plans, including the climate action plan and the biodiversity plan. They spearhead a specific multidisciplinary working group from the main corporate and business areas to assess and coordinate the status of climate change action on a bimonthly basis. - Risk Division: oversees the group's comprehensive risk system, which aims to ensure that the main risks of all the Group's activities and businesses are properly identified, managed and reported. Climate change risks are integrated into risk management processes and included in this Division's regular reports to the Audit and Risk Supervision Committee. - ESG Division: responsible for group-wide sustainable development and corporate non-financial reporting, it coordinates the TCFD working group on a multi-departmental basis, and advises investors and indices on ESG matters. It reports directly to the Sustainable Development Committee."
"In addition to its direct relationships with regulatory entities, Iberdrola and the companies in its group participate in the regulatory process through the various domestic and international trade associations of which they are members. [...] With regard to its participation in external associations and initiatives (see the following section), Iberdrola also carried out various analyses throughout 2023 on the alignment of this participation with the company's commitment to sustainable development, respect for and defence of human rights, and the fight against climate change. In particular, in this last area –climate change– the company has expanded this analysis further by developing a specific methodology to assess the extent to which the main organisations in which it participates align their activities with the implementation of the Paris Agreement and the promotion of energy transition. This methodology and the assessment have also been accompanied by an internal framework for managing any potential misalignments that may occur.

Climate Governance \n\nWith a view to ensuring the highest level of compliance and implementation of its policies, the Company has various corporate bodies and internal committees tasked with overseeing the implementation thereof. The bylaws approved by the shareholders at the General Shareholders' Meeting in June 2021 formalise the Board of Directors' obligation to approve, monitor and regularly report on the Climate Action Plan. \n\nIn response to the need for professionalisation, diversification and qualification on major issues, the Board runs a training and refresher programme for its members, including topics such as decarbonisation and the fight against climate change. The Annual Activities Report of the Board of Directors and of the Committees thereof describes and lists the matters dealt with by the Board and its Committees, and includes all content relating to climate change risk and opportunities. For its part, the structure of remuneration of executive. \n\nIn turn, the remuneration structure for executive directors and the management team takes into account economic/financial, operational and sustainability aspects. A long-term remuneration plan (2020-2022 Strategic Bonus) was approved in April 2020 covering parameters related to Sustainable Development Goals, such as reducing the average intensity of CO2 emissions and increasing the number of suppliers subject to sustainable development standards, among others. \n\nMore detailed information can be found in the Governance and Sustainability System section of the Corporate website. \n\nAt the operational and management level, an internal multidisciplinary working group was set up in 2017 to coordinate the work carried out in the framework of implementing the TCFD recommendations. Alongside this working group, there are other internal groups, such as the Global Working Group on Climate Change, which brings together different perspectives and organisations in this field.

From the corporate governance standpoint, the Board of Directors is vested with the power to approve and supervise the overall strategy on engagement with the Stakeholders of the Group's companies, endeavouring to ensure the proper coordination thereof. [...] In order to do so, the Corporate Sustainability Division (or such division as assumes the powers thereof at any time), through the Sustainability and Reputation Committee (or such committee as assumes the powers thereof at any time), promotes and coordinates the actions necessary to comply with this *Policy* and the *Global Engagement Model*, which has the purpose of ensuring that Stakeholder engagement is managed and documented in accordance with a common methodology, respecting the particularities of each country, territory and business, and that suitable channels and mechanisms are available for an appropriate relationship, as well as to promote best practices in this area. [...] Pursuant to the Group's organisational structure, inspired by the principle of subsidiarity, the country subholding companies and the head of business or country companies, within their purviews, are responsible for implementing the strategy regarding engagement with their respective Stakeholders and the *Global Engagement Model*, as well as maintaining direct discussion and dialogue therewith, especially with those who act within the environment of the facilities of their businesses. For all of the foregoing reasons, the country subholding companies and the head of business or country companies shall be endowed with the resources and structure necessary for them to carry out these activities.

For the implementation and monitoring of the provisions of this *Policy*, the Board of Directors is assisted by the Innovation, Environment and Quality Division (or such division as assumes the powers thereof at any time), which shall coordinate with the corresponding divisions of the country subholding companies, further developing the procedures required for such purpose.

As regards lobbying activities, Iberdrola is registered with the Transparency Register created by European institutions to provide adequate transparency to the relations of such institutions with companies, NGOs, citizens' associations, think tanks, etc. The register was created by the European Parliament and the European Commission, and the Council of the European Union supports the initiative. [Iberdrola's record in such register can be found on the EU's](https://ec.europa.eu/transparencyregister/public/consultation/displaylobbyist.do?id=41816938101-07) website. In its activities to influence public policies, AVANGRID has made the financial contributions shown in the [US register.](https://soprweb.senate.gov/index.cfm?event=selectfields) [...] Iberdrola has a neutral position from a political standpoint. In financial year 2021, none of the group companies, with the exception of the United Kingdom and the United States, contributed to the financing of political parties.

For the implementation and monitoring of the provisions of this *Policy*, the Board of Directors is assisted by the Climate Change and Partnerships Division (or such division as assumes the powers thereof at any time), which shall establish a procedure for regular monitoring and reporting to the governance bodies and which shall act in coordination with the corresponding divisions of the country subholding companies, developing the necessary procedures for such purpose.

For the implementation and monitoring of the provisions of this *Policy*, the Board of Directors is assisted by the Innovation, Environment and Quality Division (or such division as assumes the powers thereof at any time), which shall coordinate with the corresponding divisions of the country subholding companies, further developing the procedures required for such purpose.

For the implementation and monitoring of the provisions of this *Policy*, the Board of Directors is assisted by the Innovation, Environment and Quality Division (or such division as assumes the powers thereof at any time), which shall coordinate with the corresponding divisions of the country subholding companies, further developing the procedures required for such purpose.

In this area, the Group carries out an annual analysis of the degree of alignment of these organisations with the company's Statement of commitment to sustainable development, respect for and defence of Human Rights and the fight against climate change. The Group's professionals responsible for the engagement with each association carry out the alignment analysis, taking into account the extent to which the positions and objectives pursued by these organisations and the activities they carry out are consistent with the aforementioned frameworks. Both the publicly available information on the associations and the knowledge acquired by Iberdrola through participation in their committees and/or working groups are analysed, considering elements such as the real support for the achievement of a net zero emissions target in 2050, the deployment of renewable technologies according to the pace necessary to achieve this emission reduction and the application of the just transition principles on this path. As a result of this assessment, the positioning of the organisations is classified as aligned with, neutral or non-aligned to that maintained by the company in this area, and serves as a basis for decision-making regarding Iberdrola's future participation therein. It should be noted that this alignment analysis excludes associations in which Avangrid participates as a result of the aforementioned legal restrictions. However, Avangrid's Code of Business Conduct and Ethics includes guidance on participation in political and civic activities, and the company has adopted its Political Education Protocol to assist employees in this area and to ensure that such activities are aligned with the company's stated policies and purpose. The result of the analysis conducted in 2023 shows that 72% of the organisations in which Iberdrola participates are aligned with the company's Statement of commitment to sustainable development, respect for and defence of Human Rights and the fight against climate change. The remaining cases (28%) correspond to organisations whose alignment has been classified as neutral. In these cases, in which there is not complete alignment of the organisations with Iberdrola's position, the company continuously evaluates the suitability of its participation therein in order to defend its thesis and, thus, its interests and those of its Stakeholders. Iberdrola also works actively within them to promote its defence of the Paris Agreement and the energy transition. In 2023, no organisation in which Iberdrola participates has been identified that has been assessed as being non-aligned to the Statement.

Iberdrola's group liaison delegate in each organization is responsible for drafting a comprehensive assessment of the alignment of the climate advocacy positions of the mentioned organization with Paris Agreement following the framework included in the group's methodology. The Direction of Climate Change and Alliances will provide guidance on the incidence and relevance of each organization in the context of the global climate agenda. [...] After conducting the previous assessment, if any 'reluctant' or 'not aligned' organizations have been identified, a follow-up plan will be activated. The assessment and follow up plan to tackle any potential misalignment is structured around the following stages: o Identification and qualitative assessment of the key climate positions developed by the organization. - Evaluation of the scale (relevance) of the misalignment. o Detection of the area within the organization where the climate position misalignment has occurred: - Technical working group level - Committee level - Board level o Once a relevant and structural policy position misalignment and its origin have been identified, the company implements the following sequence of actions: - Connection with the liaison delegate of Iberdrola group in the organization. - Reinforcement of the engagement of Iberdrola's group representatives in the area where the misalignment has emerged. Some examples of engagement actions: coordination of policy papers, intensification of bilateral meetings with the members who supported non-aligned positions, increase the frequency of conversations with the secretariat of the organization, or creation of alliances with other members to encourage to counter the association's positions. [...] If the misaligned climate position is not sorted out with the previous measures, a high-level representative from Iberdrola group will connect with a peer from the organization to encourage a reoriented approach. o Should this high-level conversation not meet expectations, an escalation process may be initiated. This process would follow the next steps: - Notification of dissatisfaction with the association's response regarding its misalignment with the 1.5ºC goal through Iberdrola's delegate in the association. - Review of the association's policies and guidelines regarding membership termination or resignation. - Formal notification to the association that an internal process to assess membership termination has been initiated. - Provide the opportunity for the association to have a final conversation with the appropriate person or committee within the association, such as the membership director, board representative, or designated contact person. If the association does not provide a clear and credible action plan to tackle the situation within 12 months, one or more of the following actions will be implemented: - Suspension or discontinuation of membership or support to the association. - Request for the association to refrain from publicly engaging on issues that demonstrate misalignment with 1.5ºC. - Make a clear public statement regarding the disagreement on the policy misalignment in the section of Iberdrola's website where the evaluation of the climate positioning is located. - However, exceptionally, Iberdrola may decide to maintain its membership in the organization, either because there is alignment on other issues of importance to the company's business and operations, or because the participation is strategic from other perspectives, such as transmitting its vision and thesis in the organization to contribute to the progressive alignment of it with the Paris Agreement and the company's climate positioning.

**5. Implementation and Monitoring**

For the implementation and monitoring of the provisions of this *Policy*, the Board of Directors is assisted by the Innovation, Environment and Quality Division (or such division as assumes the powers thereof at any time), which shall coordinate with the corresponding divisions of the country subholding companies, further developing the procedures required for such purpose.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Iberdrola has developed a verty robust architecture of global alliances:
In keeping with its strategy, Iberdrola supports ambitious approaches in the framework of its
climate policies and the establishment of plans and objectives. In addition, through alliances,
declarations and campaigns, Iberdrola publicly supports frameworks for defining green recovery plans, aligning its climate goals with a pathway to robust, sustainable economic
growth. This is in addition to the need for all players to be aligned with and committed to the
fight against climate change, which makes awareness-raising among society a key.
Alliances:
Iberdrola is an active participant, with a high degree of visibility, in the main milestones of the
climate agenda, participating in a large number of technical seminars and high-level
conferences. Iberdrola wants to actively and decisively contribute to a sustainable, low-carbon
future – an effort that will also promote social and economic development through the creation
of employment and wealth. To this end, the Company is committed to conducting its policyimpacting activities within its areas of influence and alliances in which it participates in line with
the objectives of the Paris Agreement.
Hence, Iberdrola has played a leading role from a business perspective in the principal engagement activitites, alliances and meetings of the United
Nations General Assembly and the various editions of New York Climate Week, climate
conferences such as the Race to Zero Dialogues and the Climate Dialogues at various
meetings of the global climate agenda at all levels (meetings of the subsidiary bodies of the
United Nations Framework Convention on Climate Change (UNFCCC), meetings of
multilateral bodies linked to climate, etc.).
Iberdrola also belongs to various international coalitions, backs diverse external initiatives and
cooperates with numerous international organisations, business and/or multi-actor coalitions,
think tanks and research centres, supporting ambitious global climate action:
• The Climate Group EV100 y SteelZero
• Corporate Leaders' Group
• Grupo Español de Crecimiento Verde.
• Alliance of CEO Climate Leaders WEF
• The Powering Past Coal Alliance
• European Climate Foundation
• Carbon Pricing Leadership Coalition – World Bank.
• SE4ALL.
• We Mean Business.
• Green Growth Platform
• European Climate Foundation
• IRENA Coalition for Action
• World Business Council of Sustainable Development (WBCSD).
• UN Global Compact LEAD.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Organizations Key features Main activities in 2023

ABEEolicaAssociação Brasileira de Energia Eólica (Brazilian Wind Energy Association)

The Brazilian Wind Energy Association is a non-profit institution that brings together and represents the It has a permanent relationship with the main government agencies operating in matters related to energy, environment and sustainability, market regulation, among other aspects. It works, for example, with Ministries and National Councils; Public Hearings and public meetings of ANEEL and is present at wind energy industry in the country, including companies from the entire production chain. Since its foundation, ABEEólica has effectively contributed to the development and recognition of wind energy as a clean, renewable, low environmental impact, competitive and strategic source for the composition of the national energy matrix. meetings of the executive and legislative branches. The highlight in 2023 were the discussions involving hydrogen and offshore wind

Degree of alignment with Paris Agreement

Aligned

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's engagement

Neoenergia participates in the Hydrogen Working Group and the Regulatory Group, the Carbon Market Working Group, aiming at monitoring and drafting the legislation, through the participation of Hearings and Public Consultation, of the Hydrogen regulatory framework and Offshore wind regulation.

Neoenergia's Executive Director of Renewables, Laura Porto, was elected to the new management of the Association's Board of Directors.

Key Iberdrola's activities in 2023

• Neoenergia has been working with the association in the development of offshore and hydrogen technologies due to the country's great potential.

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Organizations Key features

ABRADEE - Associação Brasileira de Distribuidores de Energia Elétrica (Brazilian Association of Electricity Distributors)

ABRADEE is a Brazilian non-profit entity, constituted as a civil society under private law, whose objective is the development of the electric power distribution sector in Brazil. It provides support services to its members in the technical, commercial, economicfinancial, legal and institutional areas.

Main activities in 2023

• ABRADEE participates through its officers in the main committees of association: regulatory; technical/commercial; institutional; communication; benchmarking; innovation; market intelligence.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Degree of alignment with Paris Agreement

Neutral

Iberdrola's

Key Iberdrola's activities in 2023

engagement

ABRADEE participates through its officers in the main committees of association: regulatory; technical/commercial; institutional; communication; benchmarking; innovation; market intelligence.

Iberdrola has participated in the preparation of technical notes and advocacy with the legislative and executive branches, aiming to defend the interests of the distributors in legislative matters.

Some examples of strategic themes monitored by the Institutional Committee are: Modernization of the Sector; Extension of Concessions; Maintenance of the percentage allocated to Energy Efficiency and Distributed Generation.

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Organizations Key features

AEC - Australian Energy Council

AEC is the Australian peak industry body for electricity and downstream natural gas businesses operating in the competitive wholesale and retail energy markets. AEC members generate and sell energy to over 10 million homes and businesses and are major investors in renewable energy generation. The AEC supports reaching net-zero by 2050 as well as a 55 per cent emissions reduction target by 2035 and is committed to delivering the energy transition for the benefit of consumers.

Degree of

alignment

Main activities in 2023

with Paris Agreement

The AEC is works to promote renewable energy and facilitate Aligned the energy transition in Australia through policy work. In 2023, the AEC was involved in several policy-related activities. The AEC contributed to the Australian Energy Statistics, which is the authoritative and official source of energy statistics for Australia. The AEC published a report on the energy transition in Western Australia, discussing the challenges and bottlenecks of investing in new generation in the Western Electricity Market. The AEC was involved in discussions and advocacy related to the $4 billion allocation by the Federal budget allocation to turbocharge Australia's green hydrogen sector and drive the electrification of Australian homes and small businesses. The AEC contributed to the Clean Energy Generation report, which is a landmark analysis of the clean energy workforce and advocates for comprehensive reforms across multiple sectors to ensure Australia has the workforce required to achieve net zero. The AEC supports reaching net-zero by 2050 as well as a 55 per cent emissions reduction target by 2035 and is committed to delivering the energy transition for the benefit of consumers. . Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's engagement

Iberdrola Australia's Chairman/CEO is a Director on the Board of the AEC. Also, other representatives from the company participate in AEC discussion groups as appropriate. These discussion groups regard energy policy, sustainability, safety and system design.

Key Iberdrola's activities in 2023

In the context of the AEC, Iberdrola Australia has maintained an ongoing engagement with industry on energy policy, sustainability and system design issues, particularly in the context of increasing alignment of Commonwealth and State government policy settings.

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Organizations Key features Main activities in 2023

AEE - Asociación Empresarial eólica (Spanish Wind Energy Association)

AEEE - Asociación Española para la Economía Energética (Spanish Association for Energy Economics)

AEE is the voice of the wind energy sector in Spain. With more than 350 member companies, it represents more than 90% of the sector in the country which includes promoters, wind turbines and component manufacturers, national and regional associations, organizations connected with the sector, consultants, lawyers and financial entities, among others.

AEE s main goal is to promote the development of wind energy. AEE coordinates research into the areas surrounding wind energy and it contributes to the formulation of the normative framework. AEE also disseminates the reality of wind energy and publishes reports and studies which are a reference.

Organization created for the dissemination and social education on Energy Economics issues and international cooperation in these matters.

Organization of an annual conference where the main national academic papers on energy transition and decarbonisation are presented. Organizing a high-level event at COP 28 with academic organizations, multilateral banks and companies.

Degree of alignment with Paris Agreement

Aligned Aligned

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's engagement

Iberdrola is member of the Executive Commission of AEE – the main executive body of the association – and participates in different working groups to analyze, design and agree on the main aspects of the wind sector.

Patron partners During 2023, Iberdrola has worked with AEE on multitude of regulatory initiatives, both at national and European level in defense of the interests of the wind sector and being an active part on the key events organized by the wind sector in Spain.

Key Iberdrola's activities in 2023

Collaboration in the strategic design of activities through participation in the board of directors in the organizing committee of the different activities. We have collaborated with AEEE, SGGG and CAF in the organization of an event on climate action in Latin America at COP28 in Dubai.

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Organizations Key features

AELEC - Asociación de Empresas de Energía Eléctrica (Spanish association of Energy Companies)

Aelec is the association of Spanish Electric Power Companies, it is widely present in the electricity value chain.

Degree of

alignment

Main activities in 2023

with Paris Agreement

Aelec focuses its activity on the promotion of the technical and Aligned regulated aspects of electricity activities, in particular the role of electricity to integrate renewables, increase energy efficiency and contribute to achieving decarbonization objectives. The association works mainly on the following topics: · Promotion of electrification · Regulatory framework for the energy transition · Contribution of the electricity sector to the energy transition and economic recovery · Electricity tariffs in Spain · Distribution networks · Digitalization · Smart meters · Electric mobility · Heat pumps · Self-consumption Public information about the positioning of the association and its contribution to the main policy making processes regarding energy transition and climate change is available through the following link.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's engagement

Iberdrola participates actively in the association being present in different working groups. Iberdrola is also involved in the managing bodies of the association, such as the Directors' Committee and the Managing Board.

Key Iberdrola's activities in 2023

2023 reports: Role of fossil fuels in the transition, Financing the energy transition, Material and resources, Supply chains, Barriers to electrfication, etc.

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Organizations Key features

AME-Asociacion Mexicana de Energía (Mexican Energy Association)

The AME represent and defend the interests of the associates through active and effective dialogue with the government, national and international organizations, consumer groups, NGOs, and other actors, positioning itself as the leading association in the sector. Also, promotes the development of a competitive, efficient, reliable, and sustainable electrical system through the promotion of investment and the participation of private companies in the Mexican electricity sector, contributing to economic development under principles of legal certainty.

Main activities in 2023

In 2023, the Board of Directors of AME held three assemblies, discussing changes in statutes, updating associate fees, and welcoming new associates.

Crucial issues were addressed in Directors' Meetings and monthly Directors' Breakfasts, focusing on interaction with government, other chambers, and associations.

Energy Dialogues Forums were held, presenting economic perspectives for Mexico and discussing scenarios towards 2024.

Seven committees were active, each focusing on different aspects such as executive matters, natural gas, legal issues, sustainability, diversity, equity, inclusion, communication, linkage, and technology and innovation. These committees worked on various projects, collaborated with different organizations, and planned for future activities. The aim was to strengthen AME's position in the Mexican electricity sector and promote a competitive, efficient, reliable, and sustainable electrical system.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Degree of alignment with Paris Agreement

Iberdrola's engagement

Positive Iberdrola Mexico will chair the Executive Committe for the period 2023 - 2024. This will allow Iberdrola to effectively lead and coordinate all of the different work groups within the association. Some of its groups are: energy policy and regulation, reliability market conditions in the electricity sector, electricity tariffs, hydrocarbons and sustainability. This partnership between the AME and Iberdrola Mexico plays a crucial role in technical, regulatory, administrative, and strategic aspects. They share a vision and aligned objectives for the benefit of the sector.

Key Iberdrola's activities in 2023

• In 2023, Iberdrola participated in the following actions inside the asociation: • Heading the Executive Committee of the association for its coordination. • Analyze and discuss energy and gas regulation and its impacts and changes in Mexico. • Analysis and discuss emissions taxes within the country and its implication in the energy sector. • Monitor and discuss the dispositions regarding the emission trading system that is currently defining the definitive rules by the Ministry of Environment and Natural Resources (Semarnat). • Iberdrola México participates in various topics through the Board of Directors, Committees, and Working Groups -Page 6-

Organizations Key features

Spanish-Australian Chamber of Commerce

The Spanish-Australian Chamber of Commerce (La Camara) aims to promote and facilitate the creation of business links between its member to be the preeminent point of reference for Spanish companies interested in investing in Australia, as well as for Australian companies willing to develop and expand their business in Spain.

Degree of

alignment

Main activities in 2023

with Paris Agreement

Aligned In 2023, La Camara's activities reflected its commitment to facilitating and fostering the development of business relationships within the Spanish-Australian business community. La Camara organised a variety of events throughout the year, such as corporate lunches, ministerial briefings, seminars, private boardroom functions, networking evenings, and more relaxed cultural and cocktail events. These events provided opportunities for networking and business development within the Spanish-Australian business community. Its Annual Gala Dinner took place in Sydney in March. La Camara recognized outstanding contributions to the Spanish-Australian business community with the Premio FEDECOM 2023.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's engagement

Iberdrola Australia is a member of the Spanish-Australian Chamber of Commerce.

Key Iberdrola's activities in 2023

Iberdrola Australia participates in networkign events convened by the organisation.

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Australian Financial Markets Association (AFMA)

The Australian Financial Markets Association (AFMA) is a leading industry association promoting efficiency, integrity and professionalism in Australia's financial markets – including the capital, credit, derivatives, foreign exchange and other specialist markets. AFMA has over 130 members, from Australian and international banks, leading brokers, securities companies and state government treasury corporations to fund managers, energy traders and industry service providers. AFMA's role is to provide a forum for industry leadership and to advance the interests of all market participants, promoting best practice in financial markets and promoting Australia as a global centre for financial services.

A2Z - Accelerating to Zero Coalition

The A2Z Coalition is the world's largest transportation AFMA promotes government policy outcomes that support a strong financial sector and increase business opportunities for its members. It maintains an open and ongoing dialogue with governments and regulatory authorities to influence policy outcomes that position Australia as a sophisticated and capable global financial centre. AFMA's key activities in 2023 included: launching its Sustainable Finance Initiative; partnering with Macquarie University; and made several policy submissions including support for the objectives of a Bill to put in place the missing legislative powers to complement the already implemented components of the 2015 conclusions of the Council of Financial Regulators. AFMA also supported the Government legislating the commitment made at the OECD to address the taxation challenges arising from the digital economy.

Aligned Iberdrola Australia is a member of AFMA.

The ZEV Declaration and the Accelerating to Zero (A2Z) Coalition organized a high-level event on accelerating the ZEV revolution, Aligned Advocacy, participation in events and joint letters.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola supports the activities of the A2Z Coalition since their launching.

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Organizations Key features Main activities in 2023

BC3 - Basque Center for Climate Change

coalition, with more than 200 signatories (countries, regions, companies…), that support in understanding, developing and implementing ambitious zeroemission transportation policies and plans: all sales of new cars and vans being zero emission globally by 2040 and by no later than 2035 in leading markets. co-hosted by the ICCT, FIA Foundation, and Government of the UK.

A2Z also released a new report updating global progress towards a Paris-aligned ZEV transition, in collaboration with CALSTART/Drive to Zero, CEM Climate Group, First Movers Coalition, and Smart Freight Center.

Research center focused on climate change, with high international prestige. Aimed to produce multidisciplinary knowledge to support decision making towards sustainable development at the international level.

Several events have been organized around the climate and energy transition agenda and different publications at international level have been published. In Spain, it has a platform of information and awareness on the energy transition and climate change, named OTEA.

Degree of alignment with Paris Agreement

Iberdrola's engagement

Leadership Iberdrola supports the Centre with collaborations in meetings, publications and with permanent involvement in OTEA.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Key Iberdrola's activities in 2023

Frequent meetings to address issues related to the process of developing a renewed version of the NIECP and GHG emissions trends in all sectors of the economy.

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Organizations Key features Main activities in 2023

Bruegel is an independent think tank whose work covers the various areas of economic policy, in particular monetary Bruegel policy, trade policy, industrial policy, budgetary policy, and financial regulation, as well as the economic aspects of energy and environmental policy.

The Think Tank has organized technical seminars with highly prestigious experts and publications to contribute rigorously to European conversations around the green deal, industrial policy, energy markets… Their activities on policy proposals ahead of EU elections have been very dinamic (specially in the climate, energy and industrial areas).

Degree of alignment with Paris Agreement

Aligned

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's engagement

Iberdrola is a corporate member Iberdrola participates and contributes with its expertise in policy and technical meetings, publications and events.

Key Iberdrola's activities in 2023

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Organizations Key features Main activities in 2023

CCRI - Coalition for Climate Resilient Investment

The Coalition for Climate Resilient Investment (CCRI) was announced at the General Assembly of Work is structured around three areas: Systemic Risk, Asset Design & Structuring and Financial Innovation. The CCRI is now the CCRI Legacy Programme whose activities are steered by the Global Infrastructure Hub the UN the 23rd of September 2019 as a private sector led initiative committed to building resilience to a changing climate by promoting an efficient integration of physical climate risks (PCRs) in investment decisionmaking. CCRI's mission is to mobilise the global private financial industry, in partnership with key public institutions, to develop and test practical solutions for an effective integration of physical climate risks in investment decisionmaking.

Degree of alignment with Paris Agreement

Aligned

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's engagement

Iberdrola become member of this coalition in October 2021 to collaborate in the Asset Design & Structuring working group.

Key Iberdrola's activities in 2023

Participation in their main meetings and follow up of progress.

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Organizations Key features

CEC - Clean Energy Council

The CEC is the peak body representing Australia's clean energy sector. The CEC works with industry and government to build a competitive and sustainable market to help accelerate the transformation of Australia's energy system to one that is smarter and cleaner. Its membership includes more than 1,000 leading renewable energy, energy storage businesses and rooftop solar installers.

Degree of

alignment

Main activities in 2023

with Paris Agreement

Iberdrola's engagement

The CEC's activities reflect its commitment to promoting clean energy and facilitating the energy transition in Australia. Key activities in 2023 included: The CEC organized the Australian Clean Energy Summit 2023, which set the scene for Australia's journey to becoming a clean energy superpower. The summit included 39 headline speakers across 27 sessions, covering topics such as clean energy industry trends, government initiatives, policy developments, and innovations in clean energy technology. The Clean Energy Council Awards 2023, recognizing the outstanding contribution that individuals and businesses have made to clean energy in Australia. The CEC contributed to the Clean Energy Australia Report 2023, providing an overview of the Australian renewable energy and energy storage sectors, along with detailed analysis and data on the energy market, future trends, and the role of policy in driving clean energy uptake. The CEC contributed to the Clean Energy Regulator (CER) Annual Report 2022–23, which describes the CER's activities and performance against targets set in their Corporate Plan and the Portfolio Budget Statements for the 2022–23 reporting year.

Leadership Iberdrola Australia is a member of the CEC and various directorates and working groups.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Key Iberdrola's activities in 2023

Iberdrola Australia has worked very closely with the CEC through its directorate and working groups on topics including the following: Response to Capacity Markets; Fast Frequency Response rule change; Activities performed in the Enhanced Large-Scale Renewable; Energy Target (LRET); Transmission Access; offshore wind; Birds and bats; and Anti-modern slavery. The company has also supported and participated in conferences and the Clean Energy Summit organised by CEC.

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Organizations Key features Main activities in 2023

CEOE - Confederación Española de Organizaciones empresariales (Spanish Confederation of Business Organizations)

CEOE is the national business association representing and advocating for policy on behalf of the Spanish In the climate policy context, the organization has actively participated in consultation processes / events presenting its positions on remaining "Fit for 55" regulatory packages, has joined energy and industrial policy dialogues and has engaged with key areas of the global climate agenda ahead of COP 28 in private sector. CEOE voluntarily integrates two million companies and freelancers from all business sectors. At European level, CEOE integrates within of BusinessEurope, which gathers European business associations. CEOE also engages with global conversation on the climate and energy sphere either directly or through a wide range of alliances.

Dubai. Public information about the positioning of the association and its contribution to the main policy making processes and public consultations regarding energy transition and climate change is available through the following link. CEOE has a working group named the 'Commission on Industry and Ecological Transition,' which has, among others, the objective of engaging in interlocution with the government and European and international entities regarding the decarbonization process.

Degree of alignment with Paris Agreement

Neutral

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's engagement

Iberdrola is a member of several commissions and working groups (industry & sustainability, international affairs, environment, health and consumer affairs...).

Key Iberdrola's activities in 2023

Active engagement in various commissions and working groups defending ambitious approaches on climate and sustainability related files both at EU and national level. There is a fluid conversation in the context of the Climate Summits and an informal WG to explore improvements in the alignment of its narratives with Paris Agreement.

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Degree of

alignment

Organizations Key features Main activities in 2023

with Paris Agreement

The Coalition for Linking Energy and Nature for Action was launched at COP26 Glasgow with founding members ARE, Birdlife International, ICLEI-Cities, IRENA, TNC and WWF engaging also private sector companies, policymakers and civil society. It aims to ensure that

CleanACTION the

impact on nature by clean energy systems is fully accounted for prior to any installation. CLEANaction brings together all those aware of the link between energy and nature to work collaboratively in spreading knowledge and driving solutionoriented approaches and results.

CLEANaction members engage in information-sharing through Aligned dialogue, working groups and other knowledge-exchange opportunities. CLEANaction leverages the collective skills and capacity of all members, providing a platform that enables strong partnerships across sectors that allow for joint initiatives, common narratives, and stronger cross-sectoral collaboration in the development of low-impact renewable energies. In 2023 main work revolved around the consolidation of the coalition governance, the increase of its reach, as well as the dissemination of the Nature-Safe energy report.

Iberdrola's engagement

Member

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Key Iberdrola's activities in 2023

Contribution to the objectives and work program of the coalition, knowledge-exchange promoting dialogues and working group meetings. Contribution to the dissemination of the report: "Nature -Safe energy: Linking energy and nature to tackle the climate and biodiversity crises".

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CLG - Corporate Leaders Group

Brings together European business leaders to accelerate ambition towards a sustainable economy aligned with the most ambitious climate scenarios. Promotes the exchange of ideas, CLG Europe has developed a large set of activities (campaigns, events, declarations, research pieces, briefings, meetings with policy makers...) to support climate ambition within the remaining files of the "Fit for 55" files and other policy packages connected with the legacy of the Green Deal and climate and nature policy developments such as the Nature Restauration Law. Special attention has been allocated on positive proposal on green economy ahead of the EU electrions in 2024. The organization has worked and published academic research experiences and dialogue with political and institutional leaders to activate positive "ambition loop" in the EU climate policy framework developments. CLG convenes the Green Growth Partnership (GGP), a joint initiative between Ministers from the Green Growth Group (GGG) and the Corporate Leaders Group (CLG) Europe. It provides a forum to promote positive exchange between progressive governments and businesses, with regular involvement of likeminded parliamentarians, and other key stakeholders and opinion formers, determined to support the development of a pieces on EU industrial strategy and competitive sustainability, business assessment an ambitious approach towards 2040 climae target, the Business Agenda for the EU after 2024 elections,... CLG UK has also developed a wide range of activities to advocate for climate policy ambition in the context of the UK. Both branches of CLG have undergone an active involvement of the global climate agenda, convening business and government leaders in different events at UNGA weeks in New York and COP28. Public information about the positioning of the association and its contribution to the main policy making processes and public consultations regarding energy transition and climate change is available through the following links: letters, consultation responses, letters and statements. For example, in March 2040, CLG launched a letter to the Enviroment Council, supporting a 2040 emission reduction target that goes beyond 90%.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Leadership Iberdrola is full member of both CLG EU and CLG UK and has active participation in the working groups and strategic meetings.

The company has been intensively engaged with all the activities both at technical and high level: participation in bimonthly working groups, supporting explicitly campaigns, organizing events at key milestones of the climate agenda... The strategic and structural engagement with the organization has been reinforced in 2023 / 2024, with Iberdrola's Director of Climate Change and Alliance appointed as Chair of CLG Europe. This role involves and active paticipation in strategic planning and public activities.

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Organizations Key features

Comunidad por el Clima (AmbiciónCOP)

climate neutral and prosperous Europe. Multi-stakeholder platform acting to achieve the goals of the Paris Agreement.

Degree of

alignment

Main activities in 2023

with Paris Agreement

Iberdrola's engagement

Development of activities (events, campaigns, high-level meetings...) to boost climate action in all areas of society. Particularly important are the activities of the AmbiciónCOP platform, created to promote the involvement of Ibero-America in the global climate agenda and to raise awareness of climate agreements and their implications.

Leadership Supported its creation as a member and through frequent meetings in its strategic bodies.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Key Iberdrola's activities in 2023

Participation in their strategic meetings and major events. Support for the AmbicionCOP platform and the main activities developed at COP28.

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Committee for Economic Development of Australia (CEDA)

CEDA – the Committee for Economic Development of Australia – is an independent, membership-based think tank. CEDA's purpose is to achieve sustainable long-term Key activities by CEDA in 2023 reflect its commitment to promoting economic development and facilitating informed debate on key policy issues in Australia. CEDA's State of the Nation event featuring addresses from the Prime Minister and key Members of Parliament. CEDA published the Economic and Policy Outlook 2023, which focused on the Australian economy and policy for the year ahead. Research and policy work by CEDA informed debate on issues affecting Australia's economic and social development. prosperity for all Australians. Established for over 60 years, CEDA has identified the policy issues that matter for Australia's future and pursued solutions that deliver better economic and social outcomes. Through independent research and frank debate, we influence policy and collaborate to disrupt for good. CEDA works to influence future economic, social and environmental policy to enable: • More Australian businesses and sectors at the forefront of global productivity • Australia to be a leading economy in decarbonisation and climate adaption • Greater economic and social participation by all Australians This included contributions to the Australian Energy Statistics and the Clean Energy Generation (2023) report.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Aligned Iberdrola Australia is a member of CEDA.

Iberdrola Australia sponsored CEDA's industry event in Sydney where the The Hon. Chris Bowen, Federal Minister for Climate Change and Energy addressed senior stakeholders about Australia's $20bn plan to deliver cleaner, cheaper and more secure energy.

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Organizations Key features Main activities in 2023

CPLC - Carbon Pricing Leadership Coalition

Club de Madrid

• World class and sustainable human services • Australia to be a top performer in the use of data, digital and emerging technologies.

The Carbon Pricing Leadership Coalition brings together leaders from government, private sector, academia, and civil society to expand the use of carbon pricing policies. It is lead by the World Bank Group. Club de Madrid is the world's largest forum of democratic former Presidents and Prime Ministers. This alliance stimulates dialogue and engages in advocacy efforts to strengthen public policies and effective leadership through recommendations that tackle challenges such as inclusion, sustainable development and peace, at national and international levels.

The work undertaken by the Coalition is organized around four areas: • • • • fostering stakeholder engagement mobilizing business engagement enhancing the knowledge base effectively communicating carbon pricing In 2023, the Club de Madrid worked on the "Leadership for Net-Zero" initiative which has resulted on the report "Leadership for Net-Zero" that was launched in April 2024. The initiative seeks to chart a course towards climate neutrality from political leaders forging new pathways for climate action to businesses embracing innovation and sustainability, and from civil society advocating for systemic change to citizens demanding accountability.

Degree of alignment with Paris Agreement

Neutral Aligned

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's

Key Iberdrola's activities in 2023

engagement

Iberdrola is member of the coalition.

In 2023, Iberdrola has been an active member and contributor to the Working Group on Business Leadership that provided the private sector perspective to the "Leadership for Net-Zero" report, focusing on climate neutrality towards a just transition in the global supply chains.

Follow-up of Coalition activities and contribution to disseminating of activities and messages.

Iberdrola has been an active contributor to the Working Group on Business Leadership that provided the private sector perspective to the "Leadership for Net-Zero" report. Iberdrola also provided a business case on the support to the decarbonisation of its supply chain that is included in the report.

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Organizations Key features Main activities in 2023

CSR Europe

Club Excelencia en Sostenibilidad

CSR Europe is the European Business Network for Corporate Sustainability and Responsibility. CSR Europe's corporate membership brings together 38 multinational companies across sectors and regions. Also, CSR Europe's network of 35 national partner organisations reaches out to more than 10,000 companies in Europe.

CSR Europe's work is focused on three priority areas: People, Materials, and Markets. CSR Europe also works with the European Union and national governments to promote CSR and improve environmental standards in businesses. Finally, the development of guidelines and principles for creating CSR strategies, and resources and support for businesses looking to participate in CSR activities are also key work areas.

Association of 11 leader big companies aimed at disseminating sustainability among the Spanish business community, promoting dialogue with stakeholders and best practice benchmarking.

The Sustainability Excellence Club organizes events, shares business experiences, provides training and promotes the development of sustainability in business.

Degree of alignment with Paris Agreement

Aligned Aligned

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's engagement

Iberdrola is a member of the CSR Europe Network as a Corporate Member. The company participates once a year on the General Assembly, voting mainly on behalf financial results, audit report, budget and membership fee proposal. For 2025 year, Iberdrola has decided to step-down from this association. Iberdrola is an active member of the association's working groups, showcasing its best practices and leading the private sector's contribution to the 2030 agenda. Specifically, the company coordinates the Communication and Reputation Committee.

Key Iberdrola's activities in 2023

In 2023, Iberdrola participated: • Annual follow up meeting sharing programme and engagement opportunities for 2023.

Along 2023, Iberdrola has participated in several activities inside the organization: • Event "Socially Responsible Investment Observatory". • Spanish Circular Economy Observatory Consultation committee. • Different conferences in the context of the Mobility Observatory. • Diversity Observatory. • Environment Committee. • Corporate Welfare Committee. • Coordination and participation with speakers in the Communication and Reputation Committee.

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Organizations Key features Main activities in 2023

Initiative that aims to accelerate the growth of zero and near zero emission commercial vehicles, with the target of zero emission

Drive to Zero

technology being commercially viable by 2025 and dominating the market by 2040 in specific segments and regions.

EASE - European Association for Storage of Energy (EASE)

EASE is the leading member-supported association representing organizations active across the entire energy storage value chain. EASE represents approximately 60 members, including utilities, technology suppliers, research institutes, distribution system operators, and transmission system operators.

Six new member countries: Cape Verde, Colombia, Ghana, Iceland, Israel, and Papua New Guinea. New publications at COP28: Global MOU country policy advancements and recommendations for 2024, innovative financing models, and infrastructure success factors. Organized over a dozen events centering on commercial vehicle decarbonization in the global agenda The launch of the Energy Storage Coalition with WindEurope, BE and SolarPower Europe, urther demonstrated energy storage's relevance to the wider cleantech sector. The Energy Storage Global Conference saw stronger participation than ever, a testament to the successful collaboration between EASE and key stakeholders. The ESGC is approaching its first decade and is now the flagship event for the energy storage industry to showcase its vitality to policymakers. EASE policy activities in 2023 focused on the revision of the European Electricity Market Design and demonstrated the association's ability to foster collaboration on a wide range of topics involved with Europe's latest reform of its energy system. While the European Commission focused largely on finalising ongoing initiatives and implementing adopted legislation, it remained committed to addressing the challenges stemming from the Russian invasion in Ukraine and the subsequent energy crisis. EU's overarching objectives were to strengthen the resilience of the energy system and limit strategic dependencies.

Degree of alignment with Paris Agreement

Aligned Neutral

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's engagement

Signatory of the pledge to work towards the achievement of the targets in 2025 and 2040; participating in regular meetings.

Iberdrola is a member of the Board of Directors of EASE, the main governing body of the association, Chairs the Strategic Committee and the Brussels Advocacy Group.

Key Iberdrola's activities in 2023

Iberdrola has participated as speaker in an event of the Global Mobility Call and supports the activities of drive to Zero.

Iberdrola has worked in multitude of regulatory initiatives, while actively engaging with EASE to advocate for a market- driven and progresive electricity market reform -Page 20-

Organizations Key features

ECF - European Climate Foundation

Leading philanthropic organization in Europe to support climate action.

EFE - Economics for Energy

Private research center that applies economic analysis to energy issues. The center is originally constituted as a non-profit private association participated by universities, foundations and firms.

Main activities in 2023

The organization has financially supported different programs and campaigns to activate positive narratives around climate action that have a long-term influence on regulatory frameworks.

Preparation of reports and publications with proposals to accelerate the decarbonization of sectors. Organization of events to present publications and to promote expert's debates on topics related to the energy transition.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Degree of alignment with Paris Agreement

Iberdrola's engagement

Leadership Holds fluid conversations with the main executives of the association reinforce impacts.

Aligned Iberdrola is member of EFE's Board.

Key Iberdrola's activities in 2023

Collaborations in the Spanish framework to create and disseminate positive narratives on the role of climate action to promote industrial opportunities, competitive advantages and jobs creation. Fluid conversations and collaboration in events are essetial parts of Iberdrola's engagement with this organization. Contribution to publications and participation in organized events.

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Organizations Key features

Energy Traders Europe, formerly known as EFETEuropean Federation of Energy Traders

Energy Traders Europe is an association focused on promoting wholesale markets for electricity, and gas. It represents 160European companies

Main activities in 2023

Energy Traders Europe mission is to promote competition, transparency, and open access in the European energy sector and to build trust in electricity, gas, and carbon markets across Europe, so that they may underpin a sustainable, efficient, and secure energy supply and enable the transition to a carbonneutral economy.

Degree of alignment with Paris Agreement

Aligned

Energy Traders Europe is committed since the beginning of the liberalization of EU energy markets in delivering reliable trading standards and meaningful regulatory contributions to promote trusty market environments aligned with upper-level objectives of the EU.

Recent years have been focused on free market access, integration of renewable energy in wholesale markets and carbon pricing (EU ETS) and environmental attributes. Years from 2021 to 2023 were extremely important in terms of advocacy work due to the energy price crisis occurred in EU. A high number of position papers, joint letters with other associations and public statements in dedicated fora were made in collaboration with their members. This intense work concluded on 14 December 2023 with the agreement announcement of EU co-legislators (Parliament, Council) on the reform of EU's electricity market design (EMD).

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's engagement

Iberdrola is active in the relevant Energy Traders Europe Committees (Electricity, Gas, Legal, Market Supervision) and their main task forces, and is also involved in regional task forces, focused on key business development geographies.

Key Iberdrola's activities in 2023

Iberdrola is actively involved in Energy Traders Europe. In 2023 the participation of the company has been focused on contributing to Energy Traders Europe's advocacy work related to the numerous technical proposals included in the reform of EU's electricity market design (EMD).

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Organizations Key features

El Día Después será

El Día después is an association created to generate transformative partnerships that address the challenges posed by the Sustainable Development Goals.

Energy UK is the largest energy sector trade association in the UK. It represents the common interests across over 100 energy suppliers, generators and the supply chain in the UK.

Energy UK

Main activities in 2023

Based on the experience of recent years, the association addresses these objectives through the creation of spaces for dialogue between organizations in the public, private and social spheres.

Energy UK advocates and provides support to policy makers in developing ambitious changes towards Net Zero. In 2023, Energy UK worked towards five strategic priorities: • Championing a sustainable retail market that contributes to meeting the UK's Net Zero targets at a fair price for consumers. · Championing a resilient, smart and flexible energy system. · Advocating for a policy and regulatory landscape that attracts investment in lowcarbon infrastructure. · Advocating for coordinated policy towards delivering on the UK's Net Zero target. · Making Energy UK fit for the future. Public information about the positioning of the association and its contribution to the main policy making processes and public consultations regarding energy transition and climate change is available through the following link. https://www.energyuk.org.uk/wp- content/uploads/2024/01/Energy_UK_Annual_Report_2023.pdf

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Degree of alignment with Paris Agreement

Aligned

Iberdrola's engagement

Iberdrola was one of the founders of the association and it is an active member of the association's, being part of the Board and the Techical WG. Specifically, the company coordinates the Communication and Reputation Committee. Leadership ScottishPower (the subsidiary of Iberdrola in the UK) is represented on the Energy UK Board through its Customer Chief Executive. Also, ScottishPower sits on a further 22 different committees across the following workstreams: Investment, Customers, Energy systems and Communications and Public Affairs in 2024 we are working in several initiatives: public investments tracking private companies for achieving sustainability among others.

Key Iberdrola's activities in 2023

Scottish Power has been influential in shaping a number of Energy UK positions, including areas such as: • Identifying Energy UK priorities for REMA (Review of Electricity Market Arrangements) and Energy UK positions on REMA reforms; • Calling for full "price transparency" on the future retail market; • On smart metering, providing feedback on the installer shortage that has been reflected in the final National Audit Office (NAO) report; • Responses to recent consultations on the consenting reforms, Capacity Market and electrolytic hydrogen production. Finally, ScottishPower has held speaking/presenting slots across a number of Energy UK events, including at their 2023 Annual Conference..

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Organizations Key features Main activities in 2023

ERCST - European Roundtable on Climate Change and Sustainable Transition

ERT - European Round Table for Industry

Independent think tank working on European and Global climate change policy.

Organization of technical seminars and drafting of reports on climate policies in development within the framework of the EU, focused on policy instruments to meet climate targets under a market approach.

ERT is a business alliance that brings together CEOs and chairs from around 60 of Europe's largest companies in the industrial and technological sector. ERT focuses its activities and advocacy campaigns on topics such as competitiveness and innovation, the internal market, energy transition and climate change or digital transformation.

Under energy transition and climate change area, ERT has work on several position papers and letters to defend industry positions in face of the challenges, trends and policy dialogues that affect EU industry (climate, competitiveness, industrial opportunities...). Some topics addressed: leadership in global markets, EU single market, industrial competitiveness, innovation, energy infraestructures, digital transition... These publications have been interesting to interact with policy makers both at high and technical level. ERT participated actively in COP 28 in Dubai organizing a high level event with CEOs on "The Future of Climate, Sustainability and Clean Energy" and other activities to showcase the latest climate projects, targets and efforts of companies led by the CEOs and Chairs in ERT. Public information about the positioning of the association and its contribution to the main policy making processes and public consultations regarding energy transition and climate change is available through the following link. For example, in December, ERT launched an Expert Paper calling for an acceleration of the energy and climate transition as an opportunity to address current challenges.

Degree of alignment with Paris Agreement

Aligned Aligned

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's engagement

Iberdrola takes part on the events and workshops.

Iberdrola is part of the main working groups: Energy Transition and Climate Change, State aid Task Force, Trade & Market Access, Competitiveness & Innovation, Competition Policy...

Key Iberdrola's activities in 2023

Iberdrola has actively contributed to the conversations and work carried out within the organization.

The company has contributed with meaningful inputs and interactions to all the working groups, paying special attention to align energy transition and climate change working group positioning with the Paris Agreement and EU Green Deal objectives. Within this working group, Iberdrola co chaired during 2023 /2024 the drafting of the report on "Strengthening Europe's Energy Infrastructure" presesented in April 2024.".

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Organizations Key features

ESIA - European Solar PV Industry Alliance

The European Solar PV Industry Alliance (ESIA) was launched by the European Commission and led by EIT InnoEnergy to facilitate innovation-led expansion of a resilient industrial solar value chain in the EU, in particular in the PV manufacturing sector. The Alliance supports the growth of a European industry that is developing and commercialising breakthrough technologies along the whole value chain, leading to more innovative, efficient, circular and sustainable products, and making the EU's climate and energy objectives more attainable.

Main activities in 2023

ESIA working groups have worked to bring different proposals forward. Main actions of 2023 are focus on 4 main lines of action: Finance, Supply Chain, Demand Side policies and Skills, having one working group for each of this actions. A total of three papers with recommendations and one midterm report have been published during 2023: • Recommendations Paper Series I – Financial mechanisms to fill the cost gap and restore the PV industry in Europe

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Degree of alignment with Paris Agreement

Aligned

Iberdrola's

Key Iberdrola's activities in 2023

engagement

Since summer 2023, Iberdrola is following actions and discussions on three of the four working groups to identify risks and provide feedback to the relevant topics under discussion (not active in the Skills WG).

During 2023, Iberdrola participated in the discussions around the Recommendations Paper Series I and Series III.

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Degree of

alignment

Organizations Key features Main activities in 2023

with Paris Agreement

ETC – Energy Transition Commission

Global coalition of high-level international experts to accelerate the energy transition. Created in 2015 and Publication of very high-quality reports aligned with Iberdrola's Aligned vision of keeping alive 1,5⁰C (scenarios, technologies). based in London. Global and regional focus.

Iberdrola's engagement

Agustin Delgado (Iberdrola's Chief Innovation and Sustainability Officer) is commissioner; very active participation in working groups; peer review of documents; joint organization of events to accelerate electrification with renewables.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Key Iberdrola's activities in 2023

2023 reports: Role of fossil fuels in the transition, Financing the energy transition, Material and resources, Supply chains, Barriers to electrfication, etc.

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Organizations Key features

EURELECTRIC - Union of the Electricity Industry

Eurelectric is the federation of the European Electricity industry. It includes 33 national associations in 31 countries and 46 business members. It speaks for more than 3,500 European utilities active in power generation, distribution and supply.

Degree of

alignment

Main activities in 2023

with Paris Agreement

Iberdrola's engagement

Euroelectric provides effective representation for the industry in public affairs and advocates for key objectives such as: • promoting the Green Deal as an opportunity for citizens and businesses alike; • driving an affordable low-carbon lifestyle through the large adoption of electric solutions; • ensuring that all low-carbon technologies contribute to our sector's full decarbonization, and • showing the resilience and flexibility of the power system and of electric industry. In 2023, Eurelectric has engaged in multiple policy issues related with climate change and energy markets such as the design of the new electricity market, the Fit for 55 package, the PowerPlant project, the Grid for Speed project, among others. Public information about the positioning of the association and its contribution to the main policy making processes and public consultations regarding energy transition and climate change is available through the following link.

Leadership Iberdrola is actively participating in the association through 15-20 members in stable working groups, committees and focused drafting teams. Currently, Iberdrola co-chairs the Electrification Committee in the organization and chairs the task force on electrification and energy efficiency.

European Business and Biodiversity Platform

This platform provides a Participation in several events throughout the year. Aligned Iberdrola is an active forum for dialogue and policy interface to discuss the links between business and biodiversity at EU level. member of the coallition and participates in events and working groups.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Key Iberdrola's activities in 2023

In 2023, Iberdrola has supported and contributed to several major studies published by Eurelectric (many of them with major consultancies): • A Market fit for Net Zero power system, on key elements for a EU market design in the path towards climate neutrality; • Decarbonization speedways, which analyzes the EU's path towards carbon neutrality by 2050; • Repowering Europe & Delivering Clean Energy Resilience - Manifesto for the 2024-2029; • Eurelectric Action Plan on Grids; • Paving the way for Europe's net-zero industry: a power sector manifesto; • Power System of the Future: Keys to delivering capacity on the distribution grid; Accelerating Electrification through Heat Pumps: A Speedway for Europe's Energy Transition Active participacion in several webinars related to TNFD.

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Organizations

EVI - Electric Vehicle Initiative

GCA - Global Commission on Adaptation

Key features

Initiative of the Clean Energy Ministerial (CEM). EVI is a multi-governmental policy forum devoted to accelerating the introduction and adoption of electric vehicles globally.

Degree of

alignment

Main activities in 2023

with Paris Agreement

CEM organizes an annual meeting of Ministers, partners, and Aligned the community; it publishes the Global Electric Vehicle Outlook (GEVO) annually; Zero Emission Government Fleet Declaration.

The Global Center on Adaptation was launched in 2018 international organization working as a solutions broker to accelerate action and support for adaptation solutions, from the international to the local, in partnership with the public and private sector.

Work is structured around three pillars of activity: Programs and Aligned Action, Knowledge Acceleration, Agenda Setting and Advocacy.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's engagement

Supporting the initiative since 2018; participation in regular meetings and webinars.

In 2021 Iberdrola became GCA Youth Leadership Partner contributing as speakers at different youth leadership events, and sharing lessons learned.

Key Iberdrola's activities in 2023

Peer-review of GEVO and participation in workshops.

Support and follow up on their activities on the Youth Leadership Program.

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Organizations Key features Main activities in 2023

GECV - Grupo Español de Crecimiento Verde (Spanish Group for Green Growth)

GLOBAL RENEWABLES ALLIANCE

The Spanish Group for Green Growth (GECV for its acronym in Spanish) is an association made up of more than 60 companies of various sizes that work together towards a low emission economy.

In 2023 and part of 2024, the GECV has been very active organizing activities and joining conversations and campaigns to support positive narratives on the alignment between the green and digital transitions (climate, nature,...) and industrial oportunies. In some specific contexts have organized bilateral meetings to disseminate these narratives with governments, NGOs, academia, and other stakeholders. Furthermore, the organization played a significant role in COP 28 by organizing events and meetings at high and tecnical level with very relevant actors at EU and global level (e.g. CAF - Development Bank of Latinamerica). In the context of the UN Climate Summit celebrated in september 2023, the SGGG organized several internal and external workshops to support the implementation in the Spanish companies of the recommendations of the report "Integrity Matters: Net Zero commitments by Businesses, Financial Institutions, Cities and Regions". Other activitities: support of the launching of SME Climate Hub campaign in Spain and development of collaboration agreements with regional governements to increase green industrial capacities.

GRA es an international platform to strengthen the private sector's voice on accelerating the energy transition, and call for a tripling of renewable energy capacity by 2030 to at least 11,000 GW Develop campaigns, declarations and policy papers to support the X3RES initiative and high-level events.

Degree of alignment with Paris Agreement

Iberdrola's engagement

Leadership A very active role from a strategic and operational point of view as Iberdrola holds the chairmanship of the group and coordinates the climate change area.

Aligned Iberdrola is an active member of the coallition and participates in events and working groups.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Key Iberdrola's activities in 2023

Iberdrola has contributed to the organization of all GECV activities at the national, European, and international levels. Iberdrola has been a leader in the group's climate approaches..

Iberdrola es supporting COP29 activities at the highest level through a sponsorship agreement.

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Organizations Key features

Global Wind Energy Council (GWEC)

The Global Wind Energy Council is the international trade association for wind power industry.

The Hawthorn Club

The Hawthorn Club is an international network for executive women in the energy industry.

Main activities in 2023

GWEC mission is to ensure that wind power establishes itself as the answer to today's energy challenges. Its main goals focuses in: • Create conditions for wind industry to play a central role in the Global Energy Transition • Communicating the benefits of wind power. • Providing authoritative research and analysis.

The Hawthorn Club's main activities in 2023 were aimed at promoting the appointment of women to senior corporate positions and boards, and to facilitate gender diversity within the energy sector and included organizing various events where members discussed topics such as Green Investment Challenges; and partnering with organizations like Bloomberg NEF and the Clean Energy Council (CEC) to advance and support shared strategic goals regarding the advancement of women employed in the energy sector.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Degree of alignment with Paris Agreement

Iberdrola's engagement

Leadership During 2023, Iberdrola has participated actively in the Board of Directors, the Executive Committee (ExCo) and in some of the Working Groups of the association, with different experts following the key topics developed within the groups. Aligned Iberdrola Australia is a member of the Hawthorn Club.

Key Iberdrola's activities in 2023

In 2023, Iberdrola sponsored the Global Offshore Wind Report and was Ambassador of the successful first APAC Summit in Melbourne (Australia).

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Organizations Key features Main activities in 2023

IETA - International Emissions Trading Association

Instituto Acende Brasil

The International Emissions Trading Association (IETA) is a non-profit business organisation created to establish a functional international framework for trading in greenhouse gas emission reductions. Its membership includes leading international companies from across the carbon trading cycle.

IETA's mission is to empower business to engage in climate action and establish effective market-based trading systems for greenhouse gas emissions (GHG) and removals. To achieve its objectives, IETA works in collaboration with other stakeholders to: • Develop components of the GHG market and trading systems. • Promote market-based solutions and broad participation in GHG markets. • Strengthen business capacity and embrace innovation. • Develop a global GHG market. Public information about the positioning of the association and its contribution to the main policy making processes and public consultations regarding energy transition and climate change is available through the following link.

The Instituto Acende Brasil is a think tank focused on the The institute produces white papers and studies to inform the public about the Brazilian electricity sector. In 2023, some of the most important iniatives of the Instituto development of actions were: and projects to increase • Public Hearing held in the Environment Committee of the the degree of transparency and sustainability of the Federal Senate on Bill 2918/21, which deals with financial compensation to the Union, States, Federal District and Municipalities for the result of the exploitation of water resources Brazilian Electric Sector. for the purpose of generating electricity. • Consultation 10/2023 of the ANP regarding the draft agreement between the ANP and Arsesp on the classification of the Subida da Serra gas pipeline • Celebration of Seminar presented at the Federal Court of Auditors on "Expiration of Electricity Distribution Concessions". Beside the celebration of these influent events, the association also produced public studies, white papers and open studies on the electricity sector and participated on several public consultations.

Degree of alignment with Paris Agreement

Aligned Neutral

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's engagement

Iberdrola contributes in IETA in order to support the expansion, and well-functioning of compliance carbon markets and the development of verified carbon credits that serve both voluntary and compliance market needs.

Neoenergia has participated in different forums and regular meetings with representatives of other companies in the sector. One example is included in the following column.

Key Iberdrola's activities in 2023

In 2023 the participation of the company has been focused on the developments on the International Voluntary Carbon Market, such as the international agreements under COP and the guidelines for the use of carbon credits. We have also kept engaging in different working groups regarding compliance markets, especially on the EU-ETS

Neoenergia has participated with representatives belonging to its senior management (Its chairman and its Deputy CEO) in one of the main events organized by Instituto Acende in 2023 (Brazil Energy Frontiers 2023 Conference).

The theme of this event was "The electric sector and the new global frontiers". Among other subjects the following were discussed: Energy Transition and Distribution Sustainability (Migration, new distribution tariff structure, expansion of distributed generation).

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Organizations Key features

IEA – International Energy Agency

Created in 1974 by the OECD to coordinate measures to ensure oil supplies. Currently, the IEA has become one of the main centers for studies and energy policies at global level, with direct recommendations to governments. Among its member and associated countries, it covers more than 75% of the global energy demand.

Degree of

alignment

Main activities in 2023

with Paris Agreement

Iberdrola's engagement

A huge amount of reports: World Energy Outlook, (WEO), World Energy Investment (WEI), Energy Technology Perspectives (ETP), market reports, high level technical and policy meetings, etc.

Leadership Iberdrola performs peer reviews of documents, participates in events and workshops, etc. Iberdrola also has had a secondee for several years.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Key Iberdrola's activities in 2023

Iberdrola has participated in several meetings, working groups and workshops, as well in the peer review of key reports released by the IEA.

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Organizations Key features

IRENA Coalition for Action

The IRENA Coalition for Action forms a key international network to discuss industry trends, determine actions, share knowledge and exchange best practices with the vision to drive the global energy transition in line with the Sustainable Development Goals on energy. Its mission is to convene a global dialogue amongst non-governmental and governmental stakeholders to develop actions to increasing the share of renewables in the global energy mix. Today, the Coalition brings together over 130 leading renewable energy players including private sector companies, industry associations, civil society, research institutes and intergovernmental organisations.

Main activities in 2023

The IRENA Coalition for Action forms a key international network to discuss industry trends, determine actions, share knowledge and exchange best practices with the vision to drive the global energy transition in line with the Sustainable Development Goals on energy. Its mission is to convene a global dialogue amongst non-governmental and governmental stakeholders to develop actions to increasing the share of renewables in the global energy mix. Today, the Coalition brings together over 130 leading renewable energy players including private sector companies, industry associations, civil society, research institutes and intergovernmental organisations.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Degree of alignment with Paris Agreement

Iberdrola's

Key Iberdrola's activities in 2023

engagement

Leadership Member Participation in the Coalition for Action strategy meetings, engagement on working groups and contribution with input and case examples.

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Organizations Key features

ITF - International Transport Forum

OCDE organization with 64 member countries. It acts as a think tank of transport policies and technologies for its member countries. It is the only global organization that covers all means of transport. Since Paris Agreement, it has a "Decarbonizing Transport" initiative it focuses more and more on decarbonization.

Main activities in 2023

Policy recommendations to governments in the field of decarbonization of transport (it has a publicly accessible "Transport Climate Action Directory"). Technological and sectorial studies, with policy recommendations: Novel energy carriers, Working groups about Aviation, Maritime transport and road transport decarbonization.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Degree of alignment with Paris Agreement

Aligned

Iberdrola's

Key Iberdrola's activities in 2023

engagement

Members of the Corporate Partnership Board; participation in reports, annual projects and working groups about different mean of transport decarbonization; participation in the ITF Summit, in the COP and others.

Peer review of reports; participation in working groups about decarbonization; speakers at the ITF global summit about decarbonization of transport.

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Organizations Key features Main activities in 2023

The Powering Past Coal Alliance is a coalition of 167 national and subnational governments,

PPCA - Powering Past Coal Alliance

businesses and organizations working to advance the transition from unabated coal power generation to clean energy. The PPCA encourages all members to endorse the PCCA Declaration, including a commitment to phase out coal by 2030 in the OECD and EU, and by no later than 2040 in the rest of the world. The organization develops publications on just transition and sustainability.

Support through declarations, campaigns and events the acceleration of the energy transition towards a fossil fuels-free model.

Degree of alignment with Paris Agreement

Aligned

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's engagement

Iberdrola is member of this Alliance and participates at high-level events that are organized alongside international fora.

Key Iberdrola's activities in 2023

Follow up of the different activities undertaken by the PPCA and diffusion of those.

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Degree of

alignment

Organizations Key features Main activities in 2023

with Paris Agreement

The Renewable Hydrogen Coalition (RHC) promotes the critical role of renewable hydrogen to

RHC - Renewable Hydrogen Coalition

deliver the EU's long-term decarbonisation goals. RHC is a high-level and interdisciplinary network of start-ups, investors, entrepreneurs, innovative companies, and industrial offtakers. It was co-founded by SolarPower Europe and WindEurope and is supported by Breakthrough Energy.

The coalition aims to support and accelerate the uptake of Aligned renewable hydrogen solutions in Europe. RHC exercises advocacy with policymakers to promote the use of green hydrogen and to position Europe as a world leader on renewable hydrogen.

Iberdrola's engagement

Iberdrola has chaired the Renewable Hydrogen Coalition since its creation in 2021.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Key Iberdrola's activities in 2023

Iberdrola is an active partner of the association and works closely with RHC' teams in publications of position papers, addressed to the European authorities. Also, in 2023 Iberdrola has had an active role in the Renewable Hydrogen Summit, held in Brussels October 12th with the attendance of Innovation Director to the Summit. .Frans Timmermans, European Commission Vice President was invited as speaker, together with Ditte Juul Jorgensen (Director General of DG ENER) -Page 36-

Organizations Key features Main activities in 2023

RIE – Real Instituto Elcano

The Elcano Royal Institute is the most relevant Spanish think tank dedicated to global challenges and In 2023 and the beginning of 2024, RIE has focused its work on key current issues such the international climate negotiations, the developments of the EU Green Deal or the main geopolitical drivers of the energy sector in Spain, and the European Union. governance, including the energy and climate agendas.

Degree of alignment with Paris Agreement

Aligned

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's engagement

Iberdrola is member of Elcano' s Board of Trustees and participates in different working groups with a special engagement within the energy and climate working group supporting positive narratives (such as the deployment of renewables and electrification, the industrial opportunities offered by the energy transition...) to ensure the climate goals are met.

Key Iberdrola's activities in 2023

Iberdrola participates in different working groups, mainly in the energy and climate group, actively contributes to research papers and reports and co-organize events such as a workshop on the Green Agenda of the Spanish Presidency of the EU Council (in coordination with the Corporate Leaders Group). Bilateral meetings are held frequently in order to seize collaboration opportunities and to strengthen the analysis of the energy and climate framework at the nation, European and global levels. In 2023, Elcano launched the Youth Dialogue on Energy and Climate of which Iberdrola is a member.

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Organizations Key features Main activities in 2023

Red Española para el Desarrollo Sostenible

The Spanish Network for Sustainable Development (REDS) Association was born in 2015 as a chapter of the REDS promotes the effective implementation of the 2030 Agenda in Spanish institutions has been added . To this end, REDS promotes a strategic dialogue that creates value from the interaction and participation of multiple stakeholders: universities, research centers and other technical centers, as global network of well as companies, administrations and civil society. Sustainable Development Solutions Network (SDSN) in our country. Since then, it has been established as a reference multi-actor network that brings together universities , public administrations , companies and civil society , with the mission of supporting the dissemination and implementation of the 2030 Agenda and the Sustainable Development Goals (SDGs) in Spain.

Degree of alignment with Paris Agreement

Iberdrola's engagement

Alligned Iberdrola is an active member of the association's activities showcasing its best practices and leading the private sector's contribution to the 2030 agenda.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Key Iberdrola's activities in 2023

In 2023 we organized an event focused on the 2030 relevance in the mideterm of the period ( 2015-2030) . We have launched in 2024 a project focused on 2030 Agenda narratives.

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Organizations Key features

Solar Power Europe

SolarPower Europe is an organization that aims to ensure solar becomes Europe's leading energy source. They represent over 300 organizations across the entire solar value chain with the aim of defining the regulatory environment and improving business opportunities for solar photovoltaics in Europe. SolarPower Europe is a co-founder of the RESource Platform, Renewable Hydrogen Coalition, and the European Solar Initiative.

Main activities in 2023

Solar Power Europe main objectives are: • Advocating solar energy solutions to European policymakers. • Producing thought-leading energy market analyses. • Engaging the finance community to ensuring solarbased energy solutions have the right access to financing. • Communicating the benefits of solar power. • Coordinating business opportunities for its members. • Fully-supporting the EU Green Deal objective of Climate Neutrality. Along 2023, Solar Power Europe engaged in topics like the following: Increasing EU renewable energy targets, energy storage, recast of the energy performance building directive (EPBD), revision of the electricity market design, among other topics... Public information about the positioning of the association and its contribution to the main policy making processes and public consultations regarding energy transition and climate change is

Degree of alignment with Paris Agreement

Iberdrola's engagement

Leadership During 2023, Iberdrola has participated actively in the Board of Directors, the Advocacy Committee and in most of the association's Workstreams with different experts collaborating within the groups, as well as Vice-Chairs of the 'Renewable Hydrogen' and 'Markets & Investments' Workstreams. available through the following link.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Key Iberdrola's activities in 2023

During 2023, Iberdrola has worked in partnership with SolarPower Europe to lobby the European Commission, the European Parliament and The Council in several regulatory topics, as for example on the provisions of the "Fit for 55" package, REPowerEU, CfD guidelines, revision of the Electricity Market Design or NZIA (Net Zero Industry Act). Iberdrola has also participated in the association's main events, including the "EU Solar CEO Forum 2023", the SolarPower Summit (as event sponsor), the event Intersolar 2023 and various initiatives and private meetings, including participating in the Solar Stewardship Initiative (SSI) and the preparation of some webinars on specific topics. Iberdrola won the "Solar Sustainability Award 2023" with its solar community in Cedillo. Iberdrola's community solar project in Cedillo (Extremadura, Spain) won the award for best European initiative at SolarPower Europe's Solar Sustainability Award 2023, recognising the sector's top sustainability performer for their work to maximise the positive impact of solar energy on communities, the climate and the environment.

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Organizations Key features

The B Team is a global collective of business and civil society leaders working to create new norms of corporate leadership today, for a better tomorrow, based The B TEAM on the principles of sustainability, equality and accountability.

The Climate Group

UITP - International Association of Public Transport

Non-profit organization working with business leaders around the world to accelerate climat action. It's a global coalition for public transport with more than 1,900 members from 100 countries. They work to improve quality of life and economic well-being by promoting sustainable transport in urban areas around the world.

Main activities in 2023

In 2023, the B TEAM had an active presence at COP28 engaging stakeholders in several just transition events. Also, as co-leaders of the Energy for a Just Transition collaboration with BSR, The B TEAM led the work and meetings that were held in 2023, the second year of the collaboration, including the publication of the report "The Just Transition Planning Process for Business". The Just Transition Resource Platform has been launched in 2023 by We Mean Business, The B TEAM and BSR.

Advocacy, promotion of campaigns and events to accelerate decarbonization and make visible the role of the climate ambitious business community.

Lead Partner in EU-funded research projects; Active participation in COP; Monitoring of legislative developments that impact public transport in the EU; high-impact training and events.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Degree of alignment with Paris Agreement

Iberdrola's engagement

Leadership Iberdrola is not a member of The B TEAM but collaborates very closely with its team, especially on just transition issues, including through the Energy for a Just Transition collaboration and through different joint activities led by the The B TEAM together with We Mean Business Coalition. Leadership Iberdrola participates in two of its main campaigns EV 100 and Steel Zero.

Aligned Iberdrola is a Premium Member of UITP; it is also Member of the Sustainable Development Committee. Participation in documents about public transport decarbonization; participation in events and conferences.

Key Iberdrola's activities in 2023

Iberdrola collaborates with The B TEAM in different events, campaigns, and activities that promote a just transition to showcase Iberdrola's experience in this regard. The collaboration has been very intense during COP28 and in different publications to which berdrola has contributed to, as for instance the Just Transition Resource Platform set by We Mean Business, the B TEAM and BSR for which Iberdrola provided the only case study published or the report "The Just Transition Planning Process for Business" in the frame of the Energy for a Just Transition collaboration. Iberdrola participates in two of its main campaigns EV 100 and Steel Zero.

Speakers in webinars: how to source green energy and how to assess the benefits of the energy transition; participation in report about green energy and public transport.

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Organizations Key features

UNEF - Unión Española Fotovoltáica (Spanish Solar Photovoltaic Association)

UNEF is the main association representing the photovoltaic sector in Spain. It has 800 members representing more than 90% of the sector's activity in the country. Among these members are producers, installers, engineering companies, manufacturers, distributors and in general any company related to the sector.

Degree of

alignment

Main activities in 2023

with Paris Agreement

UNEF's main objective is to promote the development and Aligned defending the interests of the Spanish solar sector. This objective is materialized in the promotion of the transition towards a sustainable and efficient energy model, with the aim of contributing to the fight against climate change and the conservation of biodiversity. Regarding the regulation of the electricity sector, the defense of regulatory stability and legal certainty are fundamental pillars of the association's activity.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola's engagement

Iberdrola is a member of the Board of Directors of UNEF, the main governing body of the association, and participates in the different working groups to analyze, design, and agree on the main aspects of the solar PV sector.

Key Iberdrola's activities in 2023

During 2023, Iberdrola worked with UNEF on multitude of regulatory initiatives, both at national and European level in defense of the interests of the solar PV sector. UNEF has also participated in the core events organized by the solar sector in Spain.

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Organizations Key features

UNEZA is an international platform for co-operation within the power and utilities sector, to address and overcome the common barriers hindering the achievement of emissions reduction targets and the UNEZA realization of global net zero ambitions. Through the platform, the Alliance will shape dynamic new partnerships in the sector and forge effective channels for dialogue with key public and private stakeholders.

Main activities in 2023

UNEZA has worked collaboratively on several publications on the role of the electricity sector in meeting climate objectives (Roadmap and Action Plan for next years), which were presented at the IRENAS assembly in April 2024.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Degree of alignment with Paris Agreement

Aligned

Iberdrola's

Key Iberdrola's activities in 2023

engagement

UNEZA has worked collaboratively on several publications on the role of the electricity sector in meeting climate objectives (Roadmap and Action Plan for next years), which were presented at the IRENAS assembly in April 2024.

Iberdrola supported at the highest level the launch of UNEZA at COP28 in Dubai. Since then, we have actively participated in different working groups and campaigns.

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Collaboration in the frame of the UNFCCC process

The UNFCCC PCCB (Paris Committe on Capacity Building) Network is a voluntary association of interested stakeholders engaged in climaterelated capacity-building who can share As member of the UNFCCC PCCB (Paris Committe on Capacity Building) Network, Iberdrola organised a very successfull event at COP28 on how to build the capacities and skills for youth to develop a successful green career. Under the leadership of the High-level Climate Champions, the Partnership promotes the engagement of non-state actors in the global climate agenda through different campaigns and events. information on good practices of their work, seek to connect with their peers across sectors and regions, and contribute to the work of the PCCB in fulfilling its mandate; with its ultimate goal to foster synergies and enhance coherence and coordination in capacity-building efforts for climate action.Under the auspices of the High-Level Climate Champions, the Marrakech Partnership for Global Climate Action supports the implementation of the Paris Agreement by strengthening the collaboration between governments and non-state actors (cities, regions, businesses, investors...) to lower emissions and increase Aligned Iberdrola is implementing several initiatives and programmes supporting capacity-building actions, related to the energy and climate action sectors, in developing countries and with a special focus on vulnerable groups. In this context, Iberdrola actively contributes to the activities of the PCCB network. Iberdrola closely follows the activities of the High-Level Climat Champions and participates in related calls and events, namely in the frame of the June UN Climate Meetings and of COPs during which Iberdrola supports the involvmnent and key conribution of the private sector to achieve the global climate goals.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Iberdrola closely follows the activities of the High-Level Climat Champions and participates in related calls and events, namely in the frame of the June UN Climate Meetings and of COPs during which Iberdrola supports the involvmnent and key conribution of the private sector to achieve the global climate goals.

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Organizations Key features Main activities in 2023

resilience against climate impacts.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Degree of alignment with Paris Agreement

Iberdrola's

Key Iberdrola's activities in 2023

engagement

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UN Global Compact

The UN Global Compact is one of the largest corporate initiatives aimed at aligning businesses strategies and operations with Ten Principles on human rights, labour, environment and anti-Within the climate and environment action workstream, The UN Global Compact has convened leaders to move forward in the global climate agenda in the context of several events organized in the margins of the UNGA week or the COP28. UN Global Compat has launched the 'Forward Faster' initiative that aims to increase accountability and transparency by calling on companies to make their commitments public and highlight the related actions taken; Iberdrola has been recognized for its leadership and commitment to sustainability through this corruption; also promoting strategic actions to advance broader societal goals, such as the UN Sustainable Development Goals, with an emphasis on collaboration and innovation. initiative. The organization has developed several publications on just transition and is currently focusing on the offshore sector.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Leadership Iberdrola has maintained an active and influential presence within the UN Global Compact, significantly contributing across various thematic areas. Notably, as the Patron of the Think Lab on Just Transition, Iberdrola has been instrumental in promoting strategies that ensure the shift towards sustainable energy is equitable and inclusive, addressing both environmental and socio-economic impacts. Additionally, Iberdrola has taken a leadership role in the Ocean Stewardship Coalition, particularly in leading the energy transition work through its secondment. Iberdrola's engagement entails an active participation in technical and high-level events, where Iberdrola's experts and leaders have an active participation with global leaders to drive Iberdrola has maintained an active and influential presence within the UN Global Compact, significantly contributing across various thematic areas. Notably, as the Patron of the Think Lab on Just Transition, Iberdrola has been instrumental in promoting strategies that ensure the shift towards sustainable energy is equitable and inclusive, addressing both environmental and socio-economic impacts. Additionally, Iberdrola has taken a leadership role in the Ocean Stewardship Coalition, particularly in leading the energy transition work through its secondment. Iberdrola's engagement entails an active participation in technical and high-level events, where Iberdrola's experts and leaders have an active participation with global leaders to drive the climate action agenda.

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Organizations Key features

WBCSD - World Business Council for Sustainable Development

Global business organization of around 200 companies aimed at connecting business community with global climate agenda, making business solutions visible and advocating for sustainable and cooperative solutions to global challenges.

Main activities in 2023

The organization has worked on publications, business cases, events and campaigns across different working groups, paying special attention to the policy, advocacy and mobilization in the field of the climate agenda (COPs, strengthening NDCs,..). In the energy side, there have been intense actions in hydrogen, energy infrastructure, enablers or x3 RES and x2EE global targets, decarbonization of heating and cooling... The organization has also paid special attention to technical collaborations around scope 3 emission reductions and biodiversity action streams in the context of COP 16. It is especially remarkable the intensity of its activities in the context climate agenda milestones (COP28, UNGA...).

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Degree of alignment with Paris Agreement

Iberdrola's engagement

the climate action agenda. Aligned Iberdrola's liaison delegate has been involved in strategic conversations within the energy and climate streams. Iberdrola' climate and sustainability and environment team have actively participated in the conversations and projects.

Key Iberdrola's activities in 2023

Iberdrola has contributed with several business cases and expertise to the working groups and the most important events at global and regional level (e.g. COP28).

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Organizations Key features

WEF – World Economic Forum

The World Economic Forum (WEF) is an international non-governmental organization convening global leaders from different backgrounds to tackle global challenges in different fields: economy, environment, social... The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas.

Main activities in 2023

From a climate perspective, some of the key advocacy activities have been conducted under the umbrella of the "Alliance of CEO Climate Leaders" and the preparatory working groups. Connected to the high level and technical conversations developed in the different agenda milestones of the organization (e.g. Davos Summit) there have been prepared several publications, being specially remarkable those connected with the businesses role to meet net zero targets (an increasing importance to Scope 3 emissions and supply chain challenges) and the scalability of climate supply and demand solutions. First movers coalition: coalition of companies using their buying power to create early markets for innovative clean technologies in eight hard-to-decarbonize sectors, Iberdrola has joined the steel related initiative.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Degree of alignment with Paris Agreement

Iberdrola's engagement

Leadership Iberdrola is actively engaged in different working groups and specific ad-hoc initiatives. Iberdrola's Executive Chairman is member of the "Alliance of CEO Climate Leaders". Iberdrola is a member of the First movers coalition, setting purchase targets for green steel. Iberdrola has a secondee at the WEF premises who is mainly focused on clean power and decarbonisation of industries related topics. Iberdrola is a member of 1t.org to promote forestry NBS, which deliver substantial CO2 capture benefits. he company participated in the different working groups related to the CEO Alliance of Climate leaders, supported the policy asks presented ahead of COP 28 and contributed to the work of initiatives such as First Movers Coalition, Clean Power and Electrification... It was particularly important the collaboration between Iberdrola and WEF at COP28 in support of the x3 Renewables target and the development of power grids needed for the energy transition....

Key Iberdrola's activities in 2023

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Organizations Key features

WindEurope advocates wind energy policies for Europe on behalf of more than 500 member companies headquartered in over 35 countries.

WindEurope

Main activities in 2023

WindEurope analyses and establishes policy positions for the wind industry on key strategic sectoral issues, cooperating with industry and research institutions on a number of market development and technology research projects. Additionally, the lobbying activities undertaken by WindEurope help create a suitable legal framework within which members can successfully develop their businesses. Along 2023, Wind Europe engaged in some policy issues such as the EU legislative proposal on Electricity Market Design, the acceleration of permitting for wind in the context of the REPowerEU Action Plan, definition and promotion of the WindPower Package, the Wind Charter and the Net-Zero Industry Act among other topics. Wind Europe organizes conferences, exhibitions, seminars and workshops to encourage the exchange of information and ideas among wind energy stakeholders. The organization also hosts several annual events, including the WindEurope Technology Workshop, RE-Source, and the WindEurope Annual Event in Copenhagen in 2023. WindEurope is also designing and developing a digitalised permitting tool to facilitate administrative and permitting management: EasyPermits tool. Public information about the positioning of the association and its contribution to the main policy making processes and public consultations regarding energy transition and climate change is available through the following link.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Degree of alignment with Paris Agreement

Iberdrola's engagement

Leadership During 2023, Iberdrola has participated actively in the Board of Directors and in most of the association's Working Groups with different experts collaborating within them. Iberdrola is also chairing the 'Electrification' Working Group.

Key Iberdrola's activities in 2023

During 2023, Iberdrola has worked in partnership with WindEurope to lobby the European Commission, the European Parliament and The Council in several regulatory topics, as for example on the provisions of the "Fit for 55" package and REPowerEU, definition of the WindPower Package, WindCharter, NZIA (Net-Zero Industry Act), discussions on Electricity Market Design... among other topics. Iberdrola has also participated in the association's main events, being an active player in 'WindEurope annual event in Copenhagen 2023'.

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Organizations Key features

WMB – We Mean Business

Alliance of the most influential international business coalitions in climate action (CLG, WBCSD, The B Team, The Climate Group, WBCSD and CERES). They promote global campaigns, declarations and activities to influence the political and business agenda (especially Climate Summits, G20/G7 meetings…).

Main activities in 2023

WMB has launched global campaigns to promote climate ambition loops both in global and national climate policy conversations, focusing on the achievement of ambitious decarbonization pathways in line with the 1,5°C scenario. It was especially important the launching of the Fossil to Clean campaign ahead of the UNGA week and COP 28 in Dubai and the development of the corporate contributions to the Global Stocktake across the key sectors (power, transport, hydrogen...). All the activities are supported by a solid network of influential contacts and communication activities.

Alignment assessment with the Paris Agreement of key organizations in which Iberdrola participates

Degree of alignment with Paris Agreement

Iberdrola's engagement

Leadership Iberdrola is member of several committees (energy advisory board and climate policy advisory board) and supports with inputs and high-level engagement the key campaigns and events that they promote. It is especially interesting the support of Iberdrola to the deployment of SME Climate Hub in Spain and the support of WMB activities at COP28 in Dubai. Iberdrola amplifies WMB messages through its activities and communication actions.

Key Iberdrola's activities in 2023

Iberdrola supported explicitly all the Campaigns / Declarations launched (e.g. Fossil to Clean) and has collaborated with the alliance in the organization of several events and actions.

Iberdrola was silver sponsor of the WMB pavilion and collaborated in the organization of relevant multistakeholder conversations at COP 28, and supported with different resources the implementation in SME Climate Hub.

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Climate AnalysisTrade and Industry Associations

2023

Trade and Industry association: Alignment with Paris Agreement

Avangrid discloses its trade and industry association1 memberships and how these organizations align with our climate change policies and targets, with regards to the Paris Agreement goal for associations where the fees, relevance and impact are significant. The determination of significancy is based on an assessment of the relevant facts and circumstances but will generally include annual fees of more than $500,000.

In 2023, three organizations met these criteria: Edison Electric Institute (EEI), American Gas Association (AGA), and American Clean Power (ACP). In addition to that, Avangrid highlighted two other institutions with presence on advocating for climate topics – Clean Energy Buyers Association (CEBA) and The Business Council of New York State (BCNYS).

The evaluation takes into consideration the climate ambition and the climate relevance of the organizations, with the climate position being evaluated as Aligned, Partial Aligned and Not aligned2. To analyze the institutions, Avangrid used public information found in corporate websites, statements, and social media presence.

Alignment with Paris Agreement - Trade and Industry Associations

Edison Electric Institute - EEI

Edison Electric Institute (EEI) is a leading association representing investor-owned electric companies across the United States. EEI advocates for policies and initiatives that drive innovation, sustainability, and reliability within the electric power sector.

Climate Position

Aligned - EEI plays a pivotal role in shaping polices by engaging in legislative discussion, regulatory affairs, and collaborative efforts. Their initiatives extend to promoting sustainability through commitments aimed at reducing emissions, investing in renewable energy, and supporting energy efficiency programs across the industry.

Many EEI member companies have announced voluntary commitments to further reduce their carbon emissions in the near- and long-term.

1 Trade and industry associations: Trade associations that meet the requirements of Internal Revenue Code section 501(c)(6) are exempt from federal income

tax as business leagues.

2 Definitions: Aligned - Have explicit support to net zero targets and 1,5ºC scenario, active role in deploying positive narratives and positions on green transition. Engagement with the climate agenda at all levels (global, regional, local), with an intense range of activities in the key milestones. Partial aligned - Explicit or implicit support to net zero targets and 1,5ºC scenario, but may also have divergent positions on aspects of Avangrid s climate position or have taken actions that are not consistent with Avangrid s clean energy strategy; Not aligned - Show very general support to climate the agenda, but detailed positions are not aligned with 1,5ºC or presents positions contrary to the climate agenda and inconsistent with the 1.5°C scenario.

EEI has joined with several environmental and technology-focused non-governmental organizations to launch the Carbon-Free Technology Initiative (CFTI), which is focused on implementation of federal policies that can help ensure the commercial availability of affordable, carbon-free, 24/7 power technology options by the early 2030s.

Public information about the positioning of the association and its contribution to the main policy making processes and public consultations regarding energy transition and climate change is available through the following link: https://www.eei.org/resources-and-media/testimony-filingsbriefs#pageSize=10&sortby=date&sortdir=Desc .

2023 Highlights

• Advocacy for the Inflation Reduction Act: EEI advocated for provisions supporting clean energy technologies and grid modernization in the Act.

• COP28: The EEI delegation was in Dubai, United Arab Emirates, to participate in the UN Climate Change Conference (COP28) to highlight the leadership of U.S. electric companies in reducing carbon emissions.

Main actions taken by Avangrid

• In 2023, Avangrid participated as a member of Edison Electric Institute. Also, Avangrid was one of 17 EEI Member Companies Involved in the federal funding for the development of seven regional clean hydrogen hubs—called H2Hubs—across the United States.

• Avangrid s CEO integrated the EEI delegation in COP28.

• Participating in CERAWeek by S&P Global which convened energy executives and policy officials in Houston (TX). Avangrid s CEO participated in a plenary discussion on building the necessary low-carbon infrastructure needed for the clean energy transition.

American Clean Power - ACP

The American Clean Power Association (ACP) is the leading voice of today's multi-tech clean energy industry, representing over 800 energy storage, wind, utility-scale solar, clean hydrogen, and transmission companies. ACP is committed to meeting America's national security, economic and climate goals with fast-growing, low-cost, and reliable domestic power.

Climate Position

Aligned - The American Clean Power Association works to champion policies that will transform the U.S. power grid to a low-cost, reliable, and renewable power system.

They have as goals to expand demand for renewable energy technologies at a national, regional, and state level; remove barriers of entry through regulatory, permitting, and siting reforms; establish long-term market certainty to ensure increased investment and manufacturing of renewable energy technologies; invest in a national electric grid that is reliable, secure, clean, and designed for a renewable future; and develop a robust, stable, and diverse renewable energy workforce.

Also, American Clean Power is leading the Clean Power for America project, a nationwide movement to support the smarter policies needed to unleash the promise of renewable energy.

Public information about the positioning of the association and its contribution to the main policy making processes and public consultations regarding energy transition and climate change is available through the following link: https://cleanpower.org/resources/types/comments-and-filings/

2023 Highlights

• Clean Power Annual Conference: ACP hosts this event to bring together industry leaders, policymakers, and stakeholders to discuss clean energy solutions and policy advancements.

• State Advocacy: ACP actively works with state legislatures and regulators to enact policies that support clean energy development and consumer adoption.

• U.S. Clean Energy Industry 2022 Annual Report: This comprehensive report showcases the

economic and environmental benefits of clean energy, highlighting its growth and job creation potential.

Main taken actions by Avangrid

In 2023, Avangrid s Vice President of Federal Government Affairs participated as a Member of the Board of Directors. Also, Avangrid had Senior Leadership participation in the ACP Diversity and Inclusion Committee, including an executive who participated as a speaker at Clean Power 2023 Energy Transition for All.

American Gas Association - AGA

AGA, founded in 1918, represents more than 200 local energy companies that deliver clean natural gas throughout the United States. There are more than 77 million residential, commercial, and industrial natural gas customers in the U.S., of which 95 percent — more than 73 million customers — receive their gas from AGA members.

AGA is an advocate for natural gas utility companies and their customers and provides a broad range of programs and services for member natural gas pipelines, marketers, gatherers, international natural gas companies, and industry associates. Today, natural gas meets more than one-third of the United States' energy needs.

As AGA members continue to meet these needs, AGA is committed to improvements in energy efficiency, consumer energy affordability, access to reliable energy, and greenhouse gas emissions reductions.

Climate position

Not Aligned - American Gas Association advocates for a long-term role for fossil gas in the energy mix, exploring natural gas utility pathways to achieve net-zero emissions- AGA published a study "Net-Zero Emissions Opportunities for Gas Utilities" detailing potential scenarios of how natural gas could contribute to meet USA's greenhouse gas emissions reduction goals.

Public information about the positioning of the association and its contribution to the main policy making processes and public consultations regarding energy transition and climate change is available through the following link: https://www.aga.org/research-policy/#reports

2023 Highlights

• Engaged in policy discussions on the Inflation Reduction Act: The AGA called for provisions that

included natural gas, like tax credits for carbon capture and storage (CCUS) and RNG production. While the final bill didn't fully align with their objectives, they secured some gains for the industry.

• Pushed for methane emission reduction regulations: The AGA supported EPA's proposed rule

revisions aiming to significantly reduce methane emissions from natural gas infrastructure. They advocate for technology-driven solutions rather than outright bans on new pipelines.

• Continued advocating for natural gas with lawmakers: The AGA participated in Congressional

hearings and meetings highlighting the role of natural gas in a lower-carbon future, emphasizing its reliability and affordability.

Main taken actions by Avangrid

In 2023, the President of UIL Holdings, subsidiary of Avangrid participated as a member of AGA s board.

The Business Council of New York State - BCNYS

The Business Council of New York State, is the leading business organization in New York State, representing the interests of large and small firms throughout the state. Its membership is made up of more than 3,000 member companies, local chambers of commerce and professional and trade associations.

Climate position

Aligned - The Business Council focuses on achieving 70% renewable energy by 2030, a decarbonized electric generating sector by 2040, and state-wide net-zero emissions by 2050.

Public information about the positioning of the association and its contribution to the main policy making processes and public consultations regarding energy transition and climate change is available through the following link: https://www.bcnys.org/legislative-memos

2023 Highlights

• Renewable Energy Conference: Focused on the work of the Climate Action Council established under the CLCPA to implement the Act's mandates. The panels explored the goals for development and deployment of offshore wind and solar resources, the reduction in fossil generation, and adding energy storage.

• Annual Environmental Conference: They presented an Annual Environment Conference, in November 2023, which covered key Department of Environmental Conservation (DEC) programs and regulations. Topics included carbon emissions, water quality, remediation programs and presentations from DEC leaders and industry experts addressed issues affecting business operations, such as PFAS standards, permit reviews, and environmental justice.

• Climate advocacy: the Business Council advocates for climate transition campaigns, addressing concerns related to energy prices, reliability of the energy grid, and the overall economic climate.

Main actions taken by Avangrid

Membership.

Clean Energy Buyers Association - CEBA

A business association that activates a community of energy customers and partners to deploy market and policy solutions for a carbon-free energy system, focuses on unlocking markets for energy customers, catalyzing communities of customers for deployment, and decarbonizing the grid for all.

The strength of organization has been – and will be – rooted in the team of people and our efforts to develop solutions and advocate for a decarbonized energy system. They will continue to catalyze our community to be greater than the sum of its parts through education, programming, collaboration, innovation, and activation.

Climate position

Aligned - The CEBA plays a crucial role in advocating for clean energy policies, supporting decarbonization efforts, and fostering collaboration between businesses, governments, and environmental organizations.

In collaboration with the U.S. Department of State, the CEBA established the Secretariat for Secretariat for the Clean Energy Demand Initiative (CEDI). This initiative aims to maximize engagement from leading companies interested in investing in clean energy infrastructure to meet their commitments.

Also, in the 2030 Strategic Plan, CEBA outlined a strategic plan to shift the American electricity grid toward being 90% carbon-free by 2030. Additionally, their goal is to fully decarbonize the global economy by 2050.

Public information about the positioning of the association and its contribution to the main policy making processes and public consultations regarding energy transition and climate change is available through the following link: Advocacy Updates Archives - CEBA (cebuyers.org)

Highlights 2023

• Response for Call for Evidence on the Effectiveness of the Use of Environmental Attribute Certificates in Corporate Climate Targets: The Clean Energy Buyers Association (CEBA)

submitted a response in a Call for Evidence on the Effectiveness of the Use of Environmental Attribute Certificates in Corporate Climate Targets, issued by Science Based Targets Initiative (SBTi), highlighting the importance of market certificates, especially energy attribute certificates (EACs), in grid decarbonization and supply chain emissions management.

• Clean Air Task Force join letter: CEBA and CEBI signed a Clean Air Task Force letter with 15 other companies, academics, NGOs, and data providers, urging WRI and WBCSD leaders to improve location- and market-based reporting in the Greenhouse Gas Protocol's Scope 2 Guidance and to add new and separate consequential impact accounting and reporting disclosures. As the letter notes, CEBA is confident that including these three elements would best ensure the accuracy, effectiveness, and relevance of an updated Scope 2 Guidance.

• Call for Modernizing Federal Permitting: CEBA, representing more than 400 companies and organizations across the United States, in May 2023, released principles calling for Congress to modernize, appropriately resource, and streamline federal permitting for clean energy and transmission projects without compromising the integrity of the environmental review process.

Main actions taken by Avangrid

Avangrid is a member of the advisory board.

Trade Associations: Misalignment with Paris Agreement

In 2023, Avangrid identified in its climate analysis of material trade associations that American Gas Association is not aligned with Avangrid's climate position. Avangrid recognizes that AGA understands the need for climate action, but the institutions differ in their views on the role of natural gas in the future energy mix. Avangrid has invested heavily in clean energy technologies, while AGA primarily represents the interests of the traditional natural gas industry.

Overall, once a relevant and structural policy position misalignment and its origin have been identified, the company will reinforce the engagement of Avangrid̀s group representatives in the area where the misalignment has emerged.

References

Edison Electric Institute – EEI

• Main webpage - Home | (eei.org) • Issues & Policy -Clean Energy & Climate Change- Clean Energy | (eei.org) • COP28: Demonstrating Global Clean Energy Leadership https://www.eei.org/en/issues-and-

policy/cop28 • Clean Hydrogen Hubs Announced: 17 EEI Member Companies Involved With Winning Projects, October 2023 - https://www.eei.org/en/delivering-the-future/articles/clean-hydrogen-hubsannounced-17-eei-member-companies-involved-with-winning-projects • COP28: Demonstrating Global Clean Energy Leadership, December 2023 eei.org/resources-and-

media/energy-talk/Articles/2023-12-COP28-Demonstrating-Global-Clean-Energy-Leadership • Testimony, Filings and Briefs - https://www.eei.org/resources-and-media/testimony-filingsbriefs#pageSize=10&sortby=date&sortdir=Desc .

American Clean Power – ACP

• Main webpage - The American Clean Power Association (ACP)

• About Clean Power for America - https://cleanpowerforamerica.com/about/ • Clean Power 2023 Recap - https://cleanpower.org/expo/cleanpower-2023-recap/

• Clean Power Annual Market Report 2022- https://cleanpower.org/resources/clean-power-annualmarket-report-2022/

• Letters, comments and filings - Letters, Comments and Filings | ACP (cleanpower.org)

American Gas Association – AGA

• Main webpage- https://www.aga.org/ • AGA Comments on Four EPA Requests for Information (RFIs) on Inflation Reduction Act Climate Initiatives, January 2023- https://www.aga.org/research-policy/resource-library/aga-commentson-four-epa-requests-for-information-rfis-on-inflation-reduction-act-climate-initiatives-jan-18-

2023/#:~:text=AGA%20Comments%201%2D18%2D2023,achieve%20net%2Dzero%20GHG%20goal s%2C • AGA responds to EPA Methane Rule, December 2023 - https://www.aga.org/news/news-

releases/aga-responds-to-epa-methane-rule/ • AGAs̀ 2023 Advocacy Priorities- https://www.aga.org/get-involved/agas-2022-advocacy-

priorities/ • Research & Policy - https://www.aga.org/research-policy/#reports

The Business Council of New York State - BCNYS

• Main webpage - https://www.bcnys.org/ • 2023 Renewable Energy Conference - https://www.bcnys.org/event/2023-renewable-energy-

conference • 2023 Environment Conference - https://www.bcnys.org/event/2023-environment-conference • New York Business Council defends its climate transition campaign, October 2023 - https://spectrumlocalnews.com/nys/central-ny/politics/2023/10/04/new-york-business-councildefends-its-climate-transition-campaign • Legislative memos - https://www.bcnys.org/legislative-memos

Clean Energy Buyers Association - CEBA

• Main webpage- https://cebuyers.org/ • CEBA Comments to SBTI Emphasize Role of Market Certificates in Grid Decarbonization, November 2023 - https://cebuyers.org/blog/ceba-comments-to-sbti-emphasize-role-of-market-certificatesin-grid-decarbonization/ • CEO Update to Members on CEBA's Support for Voluntary Corporate Action on Grid Decarbonization, November 2023- https://cebuyers.org/blog/ceo-update-to-members-on-cebas-support-forvoluntary-corporate-action-on-grid-decarbonization/ • CEBA Principles Call for Modernizing Federal Permitting, May 2023 -

https://cebuyers.org/blog/ceba-principles-call-for-modernizing-federal-permitting/ • Advocacy updates - Advocacy Updates Archives - CEBA (cebuyers.org)