Iberdrola : Fulfilment of condition to improve the consideration of the tender offer over 100% of the share capital of Infigen Energy Limited and Infigen Energy RE Limited

Julián Martínez-Simancas

Secretary of the Board of Directors

Bilbao, 24 July 2020

To the National Securities Market Commission

Subject:	Other relevant information / Fulfilment of condition to improve the consideration of
	the offer to acquire 100% of the stapled securities issued by Infigen Energy Limited
	and Infigen Energy RE Limited

Pursuant to article 227 of the restated text of the Securities Market Law approved by the Royal Legislative Decree 4/2015, of 23 October (texto refundido de la Ley del Mercado de Valores aprobado por el Real Decreto Legislativo 4/2015, de 23 de octubre) and related provisions, and following the notice of inside information dated 17 June 2020 and the notices of other relevant information dated 29 and 30 June and 16 and 22 July 2020, with numbers 286, 3,033, 3,073, 3,416 and 3,516, respectively, of the official records, we hereby inform you that Iberdrola Renewables Australia Pty Ltd1 ("Iberdrola Renewables Australia") has announced that the condition to increase the consideration under its public takeover offer over all stapled securities of Infigen Energy Limited and Infigen Energy RE Limited (jointly "Infigen" and the "Offer", respectively) from AUD 0.89, equivalent to EUR 0.552, to AUD 0.92, equivalent to EUR 0.572, per Infigen stapled security, has been met. As of close of market in Sydney of 23 July 2020, 18.06 % of Infigen stapled securities have accepted the Offer.

As a consequence, the acceptance period of the Offer has been extended until 7:00pm Sydney time of 7 August 2020.

This information is provided to you for the appropriate purposes.

Secretary of the Board of Directors

1. A wholly-owned subsidiary of Iberdrola Energía Internacional, S.A. (Sociedad Unipersonal), a subholding company of Iberdrola, S.A. for the markets other than those covered by other group subholding companies.
2. Calculated on the basis of the euro/Australian dollar exchange rate as of 22 July 2020, which was EUR 0.6196 per AUD.

NOTICE: This document is a translation of a duly approved Spanish-language document, and is provided for informational purposes only. In the event of any discrepancy between the text of this translation and the text of the original Spanish-language document which this translation is intended to reflect, the text of the original Spanish-language document shall prevail.

Take care of the environment.

Printed in black and white and only if necessary

IMPORTANT INFORMATION

This communication does not constitute an offer to purchase, sell or exchange or the solicitation of an offer to purchase, sell or exchange any securities. 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 or pursuant to a valid exemption from registration.

NOTICE: This document is a translation of a duly approved Spanish-language document, and is provided for informational purposes only. In the event of any discrepancy between the text of this translation and the text of the original Spanish-language document which this translation is intended to reflect, the text of the original Spanish-language document shall prevail.

Take care of the environment.

Printed in black and white and only if necessary

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