EDP Renováveis S A : EDPR's Shareholders' Meeting approves an increase in the number of Independent Directors of its Board

EDPR's Shareholders' Meeting approves an increase in the number of Independent Directors of its Board

Martes13, Abril 2021

The body is now composed of 12 members, 50% of which are Independent Directors, in line with best corporate governance practices.

The Board has also strengthened the presence of women, who represent 33% of its total membership.

The appointments of Miguel Setas as Dominical Director, and those of Rosa María García, Antonio Gomes Mota and José Félix Morgado as Independent Directors have been approved.

EDP Renováveis, SA ('EDPR'), global leader in the renewable energy sector and the world's fourth-largest wind and solar energy producer, held its General Shareholders' Meeting today. Shareholders approved all the items on the agenda, including an increase in the number of Independent Directors of its Board and also a capital increase to partially finance the company's 19 billion capex plan to deploy close to 20 GW of renewables by 2025.

The capital increase amounts to 441.25 million euros. To implement it, the company will issue 88.25 million new ordinary shares with a nominal value of 5 euros each and a share premium of 12 euros per share. This means an aggregate issue price of 17 euros per share and cash contributions of more than 1.5 billion euros.

The Shareholders' meeting also approved EDPR's individual annual accounts, as well as those consolidated with its subsidiaries, for the financial year 2020. It also approved the distribution of a gross dividend against last year's results for a total amount of €69.7 million. In addition, a complementary distribution in favour of the shareholders with a charge to unrestricted reserves of up to €7 million has been approved.

On the other hand, the shareholders have approved the management and performance of EDPR's Board of Directors and its Executive Committee during the financial year 2020, ratifying the trust placed in its members.

In this regard, they ratified the proposals for re-election and appointments of directors of the company. Miguel Stilwell and Rui Teixeira were re-elected for a period of three years as Executive Directors, Vera Pinto Pereira Carneiro and Ana Paula Marques as Dominical Directors, Manuel Menéndez Menéndez as External Director, Acácio Piloto, Allan J. Katz and Joan Avalyn Dempsey as Independent Directors.

In addition, António Gomes Mota, José Félix Morgado and Rosa María García García have been appointed for a period of three years as Independent Directors and Miguel Setas as Dominical Director.

EDPR is committed to ESG best practices and focused on the continuous improvement of its corporate governance, and the resolutions approved today contribute to a more agile, independent and diverse corporate governance structure. As a result of these resolutions, EDPR strengthens the presence of Independent Directors, representing 50% of the composition of the Board of Directors, as well as the presence of women, representing 33%. In addition, all Board Committees continue to be composed exclusively of Independent Directors.