REN Redes Energeticas Nacionais SGPS S A : Qualified shareholding (Great-West Lifeco, Inc.)

Unofficial Translation

This is an unofficial translation of the proposal indicated below and it has been prepared for information purposes only. In the event of any discrepancy between this translation and the Portuguese version, the Portuguese version will prevail.

COMMUNICATION

In accordance with and for the purposes of article 17 of the Portuguese Securities Code and of the CMVM's Regulation no. 5/2008, REN - Redes Energéticas Nacionais, SGPS, S.A. (REN) hereby informs that it has received, on

January 7th 2021, the communication below from Great-West Lifeco, Inc. Great-West Lifeco, Inc. holds an indirect qualified shareholding in REN corresponding to 24,821,784 shares, representing 3.72% of the share capital of REN.

REN - REDES ENERGÉTICAS NACIONAIS, SGPS, S.A.

Lisbon, 8th of January 2021

REN - REDES ENERGÉTICAS NACIONAIS, S.G.P.S., S.A.

Listed Company (Sociedade Aberta)

Head Office: Avenida Estados Unidos da América, nº 55, 1749-061 Lisbon

Share Capital: € 667,191,262

Commercial Registry Office of Lisbon: registry and tax sole number: 503 264 032

GREAT-WEST

LIFECOINC.

To:

REN - Redes Energéticas Nacionais, SGPS, SA

Relações com os Investidores

C/o Exmo. Senhor Dr. Gonçalo Morais Soares

Chief Financial Officer

Email: [e-mail]

Winnipeg, 6 January 2021

Subject: Qualified shareholding

Dear Sir,

In accordance with and for the purposes of article 16 of the Portuguese Securities Code and of articles 1 c) and 2 of the CMVM's Regulation no. 5/2008, GREAT-WEST LIFECO INC., public limited company, incorporated and duly existing under the laws of the Government of Canada, with registered address at 100 Osborne Street North, Winnipeg, Canada R3C 3A5, with a share capital fully subscribed and paid of CAD9,670,000,000 ("Great-WestLifeco"), hereby communicates that on 1 January 2021, the following subsidiaries of Great-West Lifeco amalgamated:

• Canada Life Capital Corporation Inc.;
• GWL Holdings Inc.;
• London Life Financial Corporation; and
• London Reinsurance Group Inc.

The amalgamation was effected under Canadian law, and the amalgamating entities continue as one company under the name The Canada Life Capital Corporation Inc.

Great-West Lifeco hereby also communicates that 171263 Canada, Inc., a parent undertaking of Great-West Lifeco, has been dissolved in accordance with Canadian law and no longer controls Great-West Lifeco. As such, the attribution of voting rights of the qualified shareholding in REN is as detailed below.

Great-West Lifeco holds an indirect qualified shareholding in REN - Redes Energéticas Nacionais, SGPS, SA, public limited company, with head office at Avenida Estados Unidos da America, no. 55, 1749-061 Lisbon, with a share capital of €667,192,262, registered at the Commercial Registry office of Lisbon under the sole registration and tax number 503 264 032 ("REN"), corresponding to 24,821,784 shares, representing 3.72% of the share capital of REN and 3.72% of the respective voting rights under the article 20(1)(b) of the Portuguese Securities Code.

The shares representing the indirect qualified shareholding held by Great-West Lifeco in REN are held directly by the following entities:

1. The following funds and companies managed by the following asset management companies (that are in a control relationship with Great-West

Lifeco):

100 Osborne Street North

Winnipeg, Canada R3C 3A5 204-946-1190

A member of the Power Financial Corporation group of companies.

A. SETANTA ASSET MANAGEMENT LIMITED (MANAGEMENT COMPANY)

	Number of REN	% of Share
Fund Name	Shares	Capital of Ren
Beresford Funds ICAV	1,037,195	0.155%
Pier 21 Asset Management Inc	288,935	0.043%
Summit Investment Funds Plc	369,262	0.055%
Summit Mutual Funds Plc	239,670	0.036%
Canada Life Global All Cap Equity Fund	312,571	0.047%
Canada Life Global Dividend Equity Fund	1,665,234	0.250%
Little Company of Mary	71,733	0.011%
Irish Life Assurance Plc	7,244,014	1.086%
The Canada Life Assurance Company	13,286,924	1.991%
Total	24,515,538	3.674%

B. IRISH LIFE INVESTMENT MANAGERS LIMITED (MANAGEMENT COMPANY)

		Number of REN		% of Share
Fund Name	Shares		Capital of Ren
Beresford Funds ICAV	25,449	0.004%
Wisdom Tree Management Limited	10,752	0.002%
Irish Life Assurance Plc	4,664	0.001%
Total	40,865	0.006%
C. CANADA LIFE ASSET MANAGEMENT LIMITED (MANAGEMENT COMPANY)
		Number of REN		% of Share
Fund Name	Shares		Capital of Ren
LF Canlife Global Equity Income Fund	265,381	0.04%
Total	265,381	0.04%
Great West Lifeco, Inc		24,821,784		3.72%