Iberdrola : Energy Balance 9M 2019

/ IBE-WATCH FACT SHEET 9M 2019

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		IBERDROLA: Net Electricity Production (provisional)
	TOTAL GROUP	July - September 2019			Year 2019
	GWh	% Weight	vs 2018		GWh	% Weight	vs 2018
	Renewables	11,532	32%	-1.8%		42,903	38%		-8.5%
		Onshore wind	8,063	22%	14.2%		26,674	24%		-1.4%
		Offshore wind	468	1%	32.5%		1,493	1%		37.9%
		Hydro	2,562	7%	-36.5%		13,352	12%		-25.2%
		Mini-hydro	144	0%	-9.4%		510	0%		-9.2%
		Solar and other	294	1%	110.8%		874	1%		159.4%
	Nuclear	6,539	18%	2.7%		18,915	17%		8.8%
	Gas Combined Cycle	16,141	44%	25.1%		43,473	39%		13.3%
	Cogeneration	2,306	6%	4.8%		6,472	6%		15.9%
	Coal	0	0%	-100%		349	0%		-73.9%
	TOTAL	36,517	100%	7.5%		112,112	100%		2.3%
	SPAIN	July - September 2019			Year 2019
	GWh	% Weight	vs 2018		GWh	% Weight	vs 2018
	Renewables	4,004	27%	-22.1%		14,938	34%		-26.2%
		Onshore wind	2,243	15%	28.4%		8,495	20%		-0.8%
		Hydro	1,617	11%	-49.5%		5,933	14%		-46.4%
		Mini-hydro	144	1%	-9.4%		510	1%		-9.2%
		Solar and other	0	0%	-99.9%		0	0%		-99.8%
	Nuclear	6,539	44%	2.7%		18,915	43%		8.8%
	Gas Combined Cycle	3,540	24%	153.1%		7,386	17%		153.1%
	Cogeneration	623	4%	3.2%		1,945	4%		6.8%
	Coal	0	0%	-100%		349	1%		-73.9%
	TOTAL	14,706	100%	3.1%		43,533	100%		-0.4%
	Hydro Reservoir levels at 30/09/19	34.1% (3,840 GWh)
	UK	GWh	% Weight	vs 2018		GWh	% Weight	vs 2018
	Renewables	1,059	100%	23.6%		3,211	100%		-9.3%
		Onshore wind	847	80%	39.0%		2,670	83%		0.9%
		Offshore wind	212	20%	51.2%		541	17%		6.9%
		Hydro	0	0%	-100%		0	0%		-100%
	Gas Combined Cycle	0	0%	-100%		0	0%		-100%
	TOTAL	1,059	100%	-29.5%		3,211	100%		-59.9%
	US	GWh	% Weight	vs 2018		GWh	% Weight	vs 2018
	Renewables	3,977	81%	9.8%		12,900	84%		-1.7%
		Onshore wind	3,834	78%	10.4%		12,467	81%		-1.4%
		Hydro	34	1%	-17.9%		146	1%		-28.2%
		Solar and other	109	2%	3.4%		287	2%		3.8%
	Gas Combined Cycle	1	0%	-81.2%		2	0%		-79.7%
	Cogeneration	958	19%	8.2%		2,432	16%		44.5%
	TOTAL	4,935	100%	9.4%		15,334	100%		3.5%
	*100% Avangrid Inc. (81.5% owned by Iberdrola S.A.)
	MEXICO	GWh	% Weight	vs 2018		GWh	% Weight	vs 2018
	Renewables	369	3%	26.9%		1,219	3%		53.5%
		Onshore wind	187	1%	-35.6%		640	2%		-19.5%
		Solar and other	182	1%	N/A		580	2%		N/A
	Gas Combined Cycle	11,479	91%	15.8%		33,883	91%		21.4%
	Cogeneration	725	6%	1.7%		2,094	6%		0.7%
	TOTAL	12,574	100%	15.2%		37,197	100%		20.8%
	BRAZIL	GWh	% Weight	vs 2018		GWh	% Weight	vs 2018
	Renewables	1,552	58%	15.9%		8,661	80%		12.8%
		Onshore wind	641	24%	-2.8%	1,387	13%		-6.8%
		Hydro	911	34%	34.0%		7,274	67%		17.5%
	Gas Combined Cycle	1,121	42%	18.6%		2,202	20%		-27.9%
	TOTAL	2,673	100%	17.0%		10,864	100%		1.2%
	*100% Neoenergia (51.04% owned by Iberdrola S.A.)
	IEI*	GWh	% Weight	vs 2018		GWh	% Weight	vs 2018
	Renewables	571	100%	15.2%		1,974	100%		32.1%
		Onshore wind	311	55%	11.5%		1,015	51%		11.4%
		Offshore wind	256	45%	20.2%		951	48%		65.2%
		Solar and other	3	0%	1.5%		7	0%		2.4%
	TOTAL	571	100%	15.2%		1,974	100%		32.1%

*Iberdrola Energía Internacional, formerly RoW

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			/ IBE-WATCH FACT SHEET	9M 2019
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		IBERDROLA: Installed Capacity (Provisional)
			TOTAL GROUP	September 2019			September 2018
			MW	% Weight			MW	% Weight
			Renewables	31,006	62%			29,592	60%
			Onshore wind	16,599	33%			15,654	32%
			Offshore wind	740	1%			544	1%
			Hydro	12,742	25%			12,635	26%
			Mini-hydro	306	1%			303	1%
			Solar and other	619	1%			456	1%
			Nuclear	3,177	6%			3,177	6%
			Gas Combined Cycle	13,751	27%			14,007	29%
			Cogeneration	1,335	3%			1,335	3%
			Coal	874	2%			874	2%
			TOTAL	50,143	100%			48,985	100%
			SPAIN	September 2019			September 2018
			MW	% Weight			MW	% Weight
			Renewables	16,027	61%			15,836	61%
			Onshore wind	5,793	22%			5,768	22%
			Hydro	9,715	37%			9,715	37%
			Mini-hydro	306	1%			303	1%
			Solar and other	214	1%			50	0%
			Nuclear	3,177	12%			3,177	12%
			Gas Combined Cycle	5,695	22%			5,695	22%
			Cogeneration	353	1%			353	1%
			Coal	874	3%			874	3%
			TOTAL	26,125	100%			25,934	100%
			UK	MW	% Weight			MW	% Weight
			Renewables	2,296	100%			2,666	57%
			Onshore wind	1,906	83%			1,906	41%
			Offshore wind	390	17%			194	4%
			Hydro	0	0%			566	12%
			Gas Combined Cycle	0	0%			2,000	43%
			TOTAL	2,296	100%			4,666	100%
			USA	MW	% Weight			MW	% Weight
			Renewables	7,451	90%			6,713	89%
			Onshore wind	7,203	87%			6,466	86%
			Hydro	118	1%			118	2%
			Solar and other	129	2%			129	2%
			Gas Combined Cycle	212	3%			212	3%
			Cogeneration	636	8%			636	8%
			TOTAL	8,298	100%			7,561	100%
			*100% Avangrid Inc. (81.5% owned by Iberdrola S.A.)
			MEXICO	MW	% Weight			MW	% Weight
			Renewables	846	10%			663	10%
			Onshore wind	576	7%			393	6%
			Solar and other	270	3%			270	4%
			Gas Combined Cycle	7,312	86%			5,568	85%
			Cogeneration	346	4%			346	5%
			TOTAL	8,504	100%			6,577	100%
			BRAZIL	MW	% Weight			MW	% Weight
			Renewables	3,424	87%			2,751	84%
			Onshore wind	516	13%			516	16%
			Hydro	2,908	73%			2,236	68%
			Gas Combined Cycle	533	13%			533	16%
			TOTAL	3,957	100%			3,284	100%
			*100% Neoenergia (51.04% owned by Iberdrola S.A.)
			IEI*	MW	% Weight			MW	% Weight
			Renewables	961	100%			961	100%
			Onshore wind	605	63%			605	63%
			Offshore wind	350	36%			350	36%
			Solar and other	6	1%			6	1%
			TOTAL	961	100%			961	100%

*Iberdrola Energía Internacional, formerly RoW

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/ IBE-WATCH FACT SHEET 9M 2019

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			IBERDROLA: Distributed Energy (Provisional)
ELECTRICITY	July - September 2019		Year 2019
GWh	vs 2018		GWh	vs 2018
Spain	23,931	-0.8%		70,385		-0.7%
UK	7,474	-2.7%		24,564		-3.6%
USA(1)	10,235	-5.7%		28,926		-3.3%
Brazil(2)	16,088	0.9%		50,099		3.8%
Total Electricity	57,729	-1.5%		173,975		-0.3%
GAS
USA	7,368	-5.3%		45,019		-0.3%
Total Gas	7,368	-5.3%		45,019		-0.3%
		(1) 100% Avangrid Inc. (81.5% owned by Iberdrola S.A.)
		(2) 100% Neoenergia (51.04% owned by Iberdrola S.A.)
				IBERDROLA: Emissions (Provisional)
						9M 2019		9M 2018
C02 emissions over the period (gr. CO2 /KWh): Total		167		161
C02 emissions over the period (gr. CO2 /KWh): Spain		96		81
C02 emissions over the period (gr. CO2 /KWh): UK		0		218
C02 emissions over the period (gr. CO2 /KWh): USA		63		45
C02 emissions over the period (gr. CO2 /KWh): Brazil		57		80
C02 emissions over the period (gr. CO2 /KWh): Mexico		349		352
Emission-free production: Total (GWh)		61,818		64,262
Emission-free production: Spain (GWh)		33,852		37,628
Ratio emission-free production to total production: Total (%)	55%		59%
Ratio emission-free production to total production: Spain (%)	78%		86%
Emission-free installed capacity: Total (MW)		34,183		33,302
Emission-free installed capacity: Spain (MW)		19,204		19,013
Emission-free installed capacity: Total (%)		68%		68%
Emission-free installed capacity: Spain (%)		74%		73%
Ratio high-emission technologies production: Total (%)		0%		1%
Ratio low-emission technologies production: Total (%)		45%		40%
				Sustainability
						Ranking
		Dow Jones Sustainability World Index 2019	Selected in the utility sector. Iberdrola member in all editions
		Sustainability Yearbook ROBECOSAM 2019	Classified as "Silver Class" in the electricity sector.
		MSCI Global Sustainability Index Series		Iberdrola selected AAA
		CDP Climate Change 2018		A-
		Global 100		Iberdrola Selected
		Sustainalytics	Iberdrola among the highest rated utilities
		ISS-oekom		Iberdrola selected Prime
		FTSE4Good		Selectied for 10 years
		Bloomberg Equality Index 2019		Iberdrola selected
		Euronext Vigeo Eiris index: World 120, Eurozone 120 &		Iberdrola selected
		Europe 120
		Ecovadis	Iberdrola as one of the companies with the best performance
		2019 World's Most Ethical Company	Iberdrola selected. Only Spanish utility
		ECPI	Iberdrola lected in several Sustainability Indices
		STOXX Global ESG Leaders/Europe 600 ESG-X/Europe
		Climate Impact, Euro STOXX ESG Leaders 50/Sustainability		Iberdrola selected
		40/50 Low Carbon
		EcoAct	Iberdrola first Spanish company and first utility in the ranking
		Influence Map		Iberdrola selected
		MERCO 2019	mercoEmpresas: Leader among Spanish utilities: energy,
			gas, and water industry
		Newsweek and Green Rankings		Iberdrola fifth utility worldwide
		Energy Intelligence	Iberdrola among the top three utilities in the EI New Green
			Utilities Report 2018
		Forbes	Iberdrola selected in Forbes 2019: GLOBAL World's Largest
			Public Companies 2000
		ET Carbon Rankings	Iberdrola selected in Emissions Transparency Index
		Fortune Global 500		Iberdrola selected

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/ IBE-WATCH FACT SHEET 9M 2019

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LEGAL NOTICE

DISCLAIMER

This document has been prepared by Iberdrola, S.A. in connection with the presentation of financial results for the nine-month period ended on 30 September 2019.

The information and any opinions or statements made in this document have not been verified by independent third parties; therefore, no express or implied warranty is made as to the impartiality, accuracy, completeness or correctness of the information or the opinions or statements expressed herein.

This document contains forward-looking information and statements about Iberdrola, S.A., including financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, capital expenditures, synergies, products and services, and statements regarding future performance. Forward-looking statements are statements that are not historical facts and are generally identified by the words "expects," "anticipates," "believes," "intends," "estimates" and similar expressions.

Although Iberdrola, S.A. believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Iberdrola, S.A. shares are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Iberdrola, S.A. that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the documents sent by Iberdrola, S.A. to the Spanish Comisión Nacional del Mercado de Valores, which are accessible to the public.

Forward-looking statements are not guarantees of future performance. They have not been reviewed by the auditors of Iberdrola, S.A. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date they were made. All subsequent oral or written forward-looking statements attributable to Iberdrola, S.A. or any of its members, directors, officers, employees or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. All forward- looking statements included herein are based on information available to Iberdrola, S.A. on the date hereof. Except as required by applicable law, Iberdrola, S.A. does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither Iberdrola, S.A. nor its subsidiaries or other companies of the Iberdrola Group or its affiliates assume liability of any kind, whether for negligence or any other reason, for any damage or loss arising from any use of this document or its contents. Neither this document nor any part of it constitutes a contract, nor may it be used for incorporation into or construction of any contract or agreement.

Information in this document about the price at which securities issued by Iberdrola, S.A. have been bought or sold in the past or about the yield on securities issued by Iberdrola, S.A. cannot be relied upon as a guide to future performance.

IMPORTANT INFORMATION

This document does not constitute an offer or invitation to purchase or subscribe shares, in accordance with the provisions of (i) the restated text of the Securities Market Law approved by Royal Legislative Decree 4/2015, of 23 October; (ii) Regulation (EU) 2017/1129 of the European Parliament and of the Council, of 14 June 2017, on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC; (iii) Royal Decree-Law 5/2005, of 11 March; (iv) Royal Decree 1310/2005, of 4 November; and (v) their implementing regulations.

In addition, this document does not constitute an offer of purchase, sale or exchange, nor a request for an offer of purchase, sale or exchange of securities, nor a request for any vote or approval in any other jurisdiction.

The shares of Iberdrola, S.A. may not be offered or sold in the United States of America except pursuant to an effective registration statement under the Securities Act of 1933 or pursuant to a valid exemption from registration. The shares of Iberdrola, S.A. may not be offered or sold in Brazil except under the registration of Iberdrola, S.A. as a foreign issuer of listed securities, and a registration of a public offering of depositary receipts of its shares, pursuant to the Capital Markets Act of 1976 (Federal Law No. 6,385 of December 7, 1976, as further amended), or pursuant to a valid exemption from registration of the offering.

This document and the information presented herein was prepared by Iberdrola, S.A. solely with respect to the consolidated financial results of Iberdrola, S.A. and was prepared and is presented in accordance with the International Financial Reporting Standards ("IFRS"). This document does not contain, and the information presented herein does not constitute, an earnings release or statement of earnings of Avangrid, Inc. ("Avangrid") or Avangrid's financial results. Neither Avangrid nor its subsidiaries assume responsibility for the information presented herein, which was not prepared and is not presented in accordance with United States Generally Accepted Accounting Principles ("U.S. GAAP"), which differs from IFRS in a number of significant respects. IFRS financial results are not indicative of U.S. GAAP financial results and should not be used as an alternative to, or a basis for anticipating or estimating, Avangrid's financial results. For information regarding Avangrid's financial results for the nine-month period ended on 30 September 2019, please see its corporate website at www.avangrid.comand the Securities and Exchange Commission ("SEC") website at www.sec.gov.

This document does not contain, and the information presented herein does not constitute, an earnings release or statement of earnings of Neoenergia S.A. ("Neoenergia") or Neoenergia's financial results. Neither Neoenergia nor its subsidiaries assume responsibility for the information presented herein. For information regarding Neoenergia's financial results available to date, please see its investor relations website at www.ri.neoenergia.comand the Brazilian Comissão de Valores Mobiliários ("CVM") website at www.cvm.gov.br.

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