EDP Renováveis, S.A. and its subsidiaries 2 Key audit matter How our audit addressed the key audit matter Assessment of the recovery of the carrying amount of certain non-current assets of the Group The accompanying consolidated annual accounts present goodwill, intangible assets, right of use assets, property, plant and equipment and investments in joint venture and associates amounting to €1,268,035, €316,408, €668,788, €14,562,300 and €988,522 thousand, respectively at 31 December 2021. These assets are allocated to the cash generating units (CGUs) as indicated in note 19. These assets mainly relate to electricity generating facilities through renewable sources in Europe, North America and Brazil, that are directly affected by the regulatory framework (note 1) applicable in each of the countries in which the Group operates. At each year end, management carries out impairment tests of the carrying amount of these assets at CGU level, as described in note 2.M, by estimating the present value future cash flows generated by these assets, considering the business plans approved by management. The key assumptions used in the preparation of these cash flows are detailed in note 19. In addition, management has carried out a sensitivity analysis on the key assumptions which, based on earlier experience, may reasonably show variations, as detailed in note 19. As a result of these analyses, Group management has concluded that is not necessary to recognise or reverse impairment during the fiscal year 2021 (notes 13 and 19). This area is key because it entails the application of critical judgements and significant estimates by management (note 4) concerning the key assumptions used in the calculations performed, which are subject to uncertainty, and the fact that significant future changes in them could have a significant impact on the Group’s consolidated annual accounts. We started our analysis obtaining an understanding of the process and the relevant controls that the Group has in place to analyse the recovery of its non-current assets. In addition, we considered the adequacy of the allocation of assets to CGUs and the process for identifying those requiring an assessment of impairment, in accordance with accounting legislation. We assessed the adequacy of the measurement models employed, the assumptions and estimates used in the calculations, including, among others, estimated performance of electricity prices, consistency with the applicable regulatory framework and the evolution of discount rates. Respect to discount rates, in collaboration with our valuation experts, we verified the methodology used in their estimation and that their value is within a reasonable range. Also, we have checked the mathematical accuracy of the calculations and models prepared by management and assessed the sensitivity calculations carried out and we have compared the recoverable value calculated by the Group with the assets’ carrying amount. Finally, we also assessed the sufficiency of the information disclosed in the consolidated annual accounts with respect to the assessment of the recoverable amount of these assets. Based on the procedures carried out, we consider that management’s approach and conclusions and the information disclosed in the accompanying consolidated annual accounts are consistent with the evidence obtained.

EDP Renováveis, S.A. and its subsidiaries 3 Key audit matter How our audit addressed the key audit matter Sales transactions of controlling interests in subsidiaries As indicated in note 6 to the accompanying consolidated annual accounts, during 2021 the Group sold its interest in the subsidiaries 2019 Vento XX LLC, Riverstart Ventures LLC, Riverstart Development LLC, Eólica do Sincelo, S.A., Eólica da Linha, S.A. e Indiana Crossroads Wind Farmand LLC, with the consequent loss of control. These transactions have generated a profit amounting to €501,449 thousand (note 9) recognised in the consolidated income statement at December 31, 2021. Recognition of these transactions according to the accounting policies indicate in note 2.B requires analysing whether the Group maintains control or not, once the transaction is closed, and it entails the application of critical judgments, as indicated in note 4, and assumes the existence of relevant estimates in relation to the results of the sale, and requires special attention in our audit because of the magnitude of the amounts indicated, for which we have therefore considered this a key audit matter. In auditing the sales transactions carried out by the Group, we applied, among other, the following procedures: x Obtention, reading and analysis of sales- purchase agreements and the accounting analyses performed by management. x Analysis of compliance with the contractual conditions for the loss of control over these subsidiaries by the Group as a result of the operations performed. x Understanding and verifying the calculations performed by management to determine the profit on each operation. x Assessing the disclosures and information included in the consolidated annual accounts regarding these sales. Based on the procedures performed, we consider that the accounting treatment followed by management for the operations mentioned and the disclosures made in the accompanying consolidated annual accounts are consistent with the evidence obtained. Acquisition of the distributed generation business C2 Omega LLC. As indicated in notes 6 and 42 of the accompanying consolidated annual accounts, during 2021 the Group acquired 85% of the shares in a distributed generation business with a presence in North America for the amount of €46,530 thousand. The Group's management has qualified this operation as a business combination and, consequently, has estimated the fair value of the assets acquired and the liabilities assumed, and has assigned the acquisition price of the business to these assets and liabilities provisionally in accordance with as described in note 42. In auditing the business combination carried out by the Group, we applied, among other, the following procedures: x Obtention, reading and analysis of business purchase agreements and the accounting analyses performed by management. x Analysis of compliance with the contractual conditions for gain of control over the business by the Group.

EDP Renováveis, S.A. and its subsidiaries 4 Key audit matter How our audit addressed the key audit matter The key assumptions used in determining the fair value of the assets acquired in this business combination are detailed in notes 4 and 42. This area is key because it entails the application of critical judgments and significant estimates by management (note 4) concerning the key assumptions used, which are subject to uncertainty, and the fact that significant future changes in them could have a significant impact in the Group’s consolidated annual accounts. x Assessment the information included in the report of the independent expert engaged by management to conduct the fair value analysis of the assets and liabilities along with the expert's competence and objectivity, in order to satisfy ourselves that they were properly qualified to carry out the engagement. On the other hand, with the collaboration of our valuation experts, we have evaluated the adequacy of the valuation models used to determine the fair value of the assets acquired and liabilities assumed, the assumptions and estimates used in the calculations that include, among others, estimates of the pricing inputs, market power prices, renewables energy certifications curves, coherence with the applicable regulatory framework and the evolution of discount rates and internal rate of return. Respect to discount rates and internal rate of return, in collaboration with our valuation experts, we verified the methodology used in their estimation and that their value is within a reasonable range. Likewise, we have verified the mathematical accuracy of the calculations and models prepared by management and we have verified the provisional allocation of the acquisition price to the fair value of the assets and liabilities acquired, as well as the accounting record of the associated impacts. Based on the procedures performed, we consider that the accounting treatment applied by management, and the disclosures considered in the accompanying consolidated annual accounts, are consistent with the evidence obtained. Recognition and measurement of derivative financial instruments As indicated in note 5 to the accompanying consolidated annual accounts, the Group is exposed to certain financial risks, namely, exchange rate risk, interest rate risk and electricity price risk, due to the activities performed and the countries where it operates. We started our analysis by understanding the procedure established by management to identify and measure the derivatives and the relevant controls on this area. For a sample of derivatives financial instruments selected, we checked their main characteristics with their respective contracts.

EDP Renováveis, S.A. and its subsidiaries 5 Key audit matter How our audit addressed the key audit matter In order to manage these risks, management has contracted several derivatives whose values at December 31,2021 amounted to €111,881 thousand and € 1,226,200 thousand, of asset and liability, respectively (note 37). The fair value of the derivatives is estimated through valuation techniques of varying complexity that require the application of judgement and, in a certain case, the use of significant assumptions by management (nota 4). On the other hand, the derivatives designated as accounting hedges have to meet some criteria in relation to the documentation of the hedge as it indicated in note 2.D. Due to the uncertainty associated with the estimations of the fair value of these instruments and the complexity of complying with accounting legislation on the application of hedge accounting, we consider this a key audit matter. Similarly, and with the involvement of our experts in the valuation of derivatives, we assessed the valuation methodology used and for a sample of instruments, we performed a contrast assessment over the management’s valuation. Moreover, for a sample of the instruments designated as accounting hedges, we assessed the documentation is according to requirements established in prevailing accounting regulations. Finally, we analysed the sufficiency of the disclosures included in the accompanying consolidated annual accounts regarding financial derivatives. As a result of our tests, we consider that the measurement of financial derivatives financial instruments and the information disclosed in the accompanying consolidated annual accounts are reasonable and consistent with the information available. Other information: Consolidated management report Other information comprises only the consolidated management report for the 2021 financial year, the formulation of which is the responsibility of the Parent company's directors and does not form an integral part of the consolidated annual accounts. Our audit opinion on the consolidated annual accounts does not cover the consolidated management report. Our responsibility regarding the consolidated management report, in accordance with legislation governing the audit practice, is to: a) Verify only that the consolidated statement of non-financial information and certain information included in the Corporate Governance Report and the Remuneration Report, both prepared according to the Portuguese applicable legislation, as referred to in the Auditing Act, has been provided in the manner required. b) Evaluate and report on the consistency between the rest of the information included in the consolidated management report and the consolidated annual accounts as a result of our knowledge of the Group obtained during the audit of the aforementioned financial statements, as well as to evaluate and report on whether the content and presentation of this part of the consolidated management report is in accordance with applicable regulations. If, based on the work we have performed, we conclude that material misstatements exist, we are required to report that fact. On the basis of the work performed, as described above, we have verified that the information mentioned in section a) above has been provided in the manner required by applicable legislation and that the rest of the information contained in the consolidated management report is consistent with that contained in the consolidated annual accounts for the 2021 financial year, and its content and presentation are in accordance with applicable regulations.

EDP Renováveis, S.A. and its subsidiaries 6 Responsibility of the directors and the the audit, control and related party transactions committee for the consolidated annual accounts The Parent company's directors are responsible for the preparation of the accompanying consolidated annual accounts, such that they fairly present the consolidated equity, financial position and financial performance of the Group, in accordance with IFRS-EU and other provisions of the financial reporting framework applicable to the Group in Spain, and for such internal control as the aforementioned directors determine is necessary to enable the preparation of consolidated annual accounts that are free from material misstatement, whether due to fraud or error. In preparing the consolidated annual accounts, the Parent company's directors are responsible for assessing the Group's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the aforementioned directors either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so. The Parent company's audit, control and related party transactions committee is responsible for overseeing the process of preparation and presentation of the consolidated annual accounts. Auditor’s responsibilities for the audit of the consolidated annual accounts Our objectives are to obtain reasonable assurance about whether the consolidated annual accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with legislation governing the audit practice in Spain will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated annual accounts. As part of an audit in accordance with legislation governing the audit practice in Spain, we exercise professional judgment and maintain professional scepticism throughout the audit. We also: x Identify and assess the risks of material misstatement of the consolidated annual accounts, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. x Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group's internal control. x Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Parent company's directors. x Conclude on the appropriateness of the Parent company's directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated annual accounts or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.

EDP Renováveis, S.A. and its subsidiaries 7 x Evaluate the overall presentation, structure and content of the consolidated annual accounts, including the disclosures, and whether the consolidated annual accounts represent the underlying transactions and events in a manner that achieves fair presentation. x Obtain sufficient and appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated annual accounts. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. We communicate with the Parent company's audit, control and related party transactions committee regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide the Parent company's audit, control and related party transactions committee with a statement that we have complied with relevant ethical requirements, including those relating to independence, and we communicate with the aforementioned those matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. From the matters communicated with the Parent company’s audit, control and related party transactions committee, we determine those matters that were of most significance in the audit of the consolidated annual accounts of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter. Report on other legal and regulatory requirements European single electronic format We have examined the digital files of the European single electronic format (ESEF) of EDP Renováveis, S.A. and its subsidiaries for the 2021 financial year that comprise an XHTML file which includes the consolidated annual accounts for the financial year and XBRL files with tagging performed by the entity, which will form part of the annual financial report. The directors of EDP Renováveis, S.A. are responsible for presenting the annual financial report for 2021 financial year in accordance with the formatting and markup requirements established in the Delegated Regulation (EU) 2019/815 of 17 December 2018 of the European Commission (hereinafter the ESEF Regulation). Our responsibility is to examine the digital files prepared by the Parent company's directors, in accordance with legislation governing the audit practice in Spain. This legislation requires that we plan and execute our audit procedures in order to verify whether the content of the consolidated annual accounts included in the aforementioned digital files completely agrees with that of the consolidated annual accounts that we have audited, and whether the format and markup of these accounts and of the aforementioned files has been affected, in all material respects, in accordance with the requirements established in the ESEF Regulation. In our opinion, the digital files examined completely agree with the audited consolidated annual accounts, and these are presented and have been marked up, in all material respects, in accordance with the requirements established in the ESEF Regulation.

3 Consolidated income statement for the years ended 31 December 2021 and 2020 Revenues 7 1,580,458 1,528,974 Income from institutional partnerships in North America 8 177,205 201,783 1,757,663 1,730,757 Other income 9 635,731 498,414 Supplies and services 10 -335,674 -304,437 Personnel costs and employee benefits 11 -174,259 -141,156 Other expenses 12 -165,021 -122,614 Impairment losses on trade receivables and debtors 23 417 -88 -38,806 -69,881 Joint ventures and associates 20 41,184 -6,151 1,760,041 1,654,725 Provisions 32 -1,564 -702 Amortisation and impairment 13 -607,289 -600,034 Operating profit 1,151,188 1,053,989 Financial income 14 107,985 76,735 Financial expenses 14 -356,582 -361,793 Financial result – net -248,597 -285,058 Profit before tax and CESE 902,591 768,931 Income tax expense 15 -89,825 -82,907 Extraordinary contribution to the energy sector (CESE) 15 -3,188 -3,173 Net profit for the year 809,578 682,851 ATTRIBUTABLE TO Equity holders of EDP Renováveis 29 655,443 555,680 Non-controlling interests 30 154,135 127,171 Net profit for the year 809,578 682,851 Earnings per share basic and diluted - Euros 28 0.70 0.64 THOUSAND EUROS NOTES 2021 2020

4 Consolidated statement of comprehensive income for the years ended at 31 December 2021 and 2020 2021 2020 THOUSAND EUROS EQUITY HOLDERS OF THE PARENT NON- CONTROLLING INTERESTS EQUITY HOLDERS OF THE PARENT NON- CONTROLLING INTERESTS Net profit for the year 655,443 154,135 555,680 127,171 Items that will never be reclassified to profit or loss Actuarial gains/(losses) 7 6 -3 -4 Tax effect of actuarial gains/(losses) 5 -2 8 1 12 4 5 -3 Items that are or may be reclassified to profit or loss Fair value reserve (Equity instruments at fair value) 828 67 -2,954 -240 Tax effect of fair value reserve (Equity instruments at fair value) - - - - Fair value reserve (cash flow hedge) -984,817 1,385 -8,372 -487 Tax effect from the fair value reserve (cash flow hedge) 247,192 -769 2,968 501 Share of other comprehensive income of joint ventures and associates, net of taxes -14,086 - 13,515 - Reclassification to profit and loss due to changes in control 5,747 - 74,511 - Exchange differences arising on consolidation 79,487 67,203 -200,061 -99,195 -665,649 67,886 -120,393 -99,421 Other comprehensive income for the year, net of income tax -665,637 67,890 -120,388 -99,424 Total comprehensive income for the year -10,194 222,025 435,292 27,747

5 Consolidated statement of financial position as at 31 December 2021 and 2020 ASSETS Property, plant and equipment 16 14,562,300 13,491,718 Right-of-use assets 17 668,788 674,045 Intangible assets 18 316,408 314,228 Goodwill 19 1,268,035 1,222,666 Investments in joint ventures and associates 20 988,522 474,884 Equity instruments at fair value 40 14,878 13,318 Deferred tax assets 21 331,803 122,168 Debtors and other assets from commercial activities 23 32,923 23,048 Other debtors and other assets 24 771,415 272,853 Collateral deposits associated to financial debt 31 23,397 21,544 Total Non-Current Assets 18,978,469 16,630,472 Inventories 22 62,274 54,528 Debtors and other assets from commercial activities 23 465,311 255,986 Other debtors and other assets 24 775,310 585,056 Current tax assets 25 224,796 140,761 Collateral deposits associated to financial debt 31 25,708 9,061 Cash and cash equivalents 26 1,003,784 474,384 Assets held for sale 27 495,924 12,307 Total Current Assets 3,053,107 1,532,083 Total Assets 22,031,576 18,162,555 EQUITY Share capital 28 4,802,791 4,361,541 Share premium 28 1,599,013 552,035 Reserves 29 -910,658 -245,009 Other reserves and Retained earnings 29 2,620,292 2,123,302 Consolidated net profit attributable to equity holders of the parent 655,443 555,680 Total Equity attributable to equity holders of the parent 8,766,881 7,347,549 Non-controlling interests 30 1,408,026 1,276,282 Total Equity 10,174,907 8,623,831 LIABILITIES Medium / Long term financial debt 31 3,353,104 3,449,621 Provisions 32 318,317 309,607 Deferred tax liabilities 21 454,564 427,102 Institutional partnerships in North America 33 2,259,741 1,933,542 Trade and other payables from commercial activities 34 634,687 439,103 Other liabilities and other payables 35 1,231,218 853,475 Total Non-Current Liabilities 8,251,631 7,412,450 Short term financial debt 31 687,845 496,895 Provisions 32 6,316 5,697 Trade and other payables from commercial activities 34 1,688,791 1,346,110 Other liabilities and other payables 35 967,643 167,649 Current tax liabilities 36 191,956 109,812 Liabilities held for sale 27 62,487 111 Total Current Liabilities 3,605,038 2,126,274 Total Liabilities 11,856,669 9,538,724 Total Equity and Liabilities 22,031,576 18,162,555 THOUSAND EUROS NOTES 2021 2020

6 Consolidated statement of changes in equity for the years ended at 31 December 2021 and 2020 THOUSAND EUROS TOTAL EQUITY SHARE CAPITAL SHARE PREMIUM RESERVES AND RETAINED EARNINGS EXCHANGE DIFFERENCES HEDGING RESERVE FAIR VALUE RESERVE EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF EDP RENOVÁVEIS NON- CONTROLLING INTERESTS Balance as at 31 December 2019 8,334,700 4,361,541 552,035 2,183,880 -79,986 -50,903 6,272 6,972,839 1,361,861 COMPREHENSIVE INCOME - Fair value reserve (equity instruments at fair value) net of taxes -3,194 - - - - - -2,954 -2,954 -240 - Fair value reserve (cash flow hedge) net of taxes -5,390 - - - - -5,404 - -5,404 14 - Share of other comprehensive Income in joint ventures and associates, net of taxes 13,515 - - - 15,179 -1,664 - 13,515 - - Reclassification to profit and loss due to changes in control 74,511 - - - 39,791 34,720 - 74,511 - - Actuarial gains/(Losses) 2 - - 5 - - - 5 -3 Exchange differences arising on consolidation -299,256 - - - -200,061 - - -200,061 -99,195 - Net profit for the year 682,851 - - 555,680 - - - 555,680 127,171 Total comprehensive income for the year 463,039 - - 555,685 -145,091 27,652 -2,954 435,292 27,747 Dividends paid -69,784 - - -69,784 - - - -69,784 - Dividends attributable to non-controlling interests -38,231 - - - - - - - -38,231 Other changes resulting from acquisitions/sales and equity increases -65,972 - - 9,293 - - - 9,293 -75,265 Other 79 - - -92 1 - - -91 170 Balance as at 31 December 2020 8,623,831 4,361,541 552,035 2,678,982 -225,076 -23,251 3,318 7,347,549 1,276,282 COMPREHENSIVE INCOME - Fair value reserve (equity instruments at fair value) net of taxes 895 - - - - - 828 828 67 - Fair value reserve (cash flow hedge) net of taxes -737,009 - - - - -737,625 - -737,625 616 - Share of other comprehensive Income in joint ventures and associates, net of taxes -14,086 - - - -8,711 -5,375 - -14,086 - - Reclassification to profit and loss due to changes in control 5,747 - - - -5,622 11,369 - 5,747 - - Actuarial gains/(Losses) 16 - - 12 - - - 12 4 Exchange differences arising on consolidation 146,690 - - 79,487 - - 79,487 67,203 - Net profit for the year 809,578 - - 655,443 - - - 655,443 154,135 Total comprehensive income for the year 211,831 - - 655,455 65,154 -731,631 828 -10,194 222,025 Dividends paid -76,845 - - -76,845 - - - -76,845 - Dividends attributable to non-controlling interests -38,387 - - - - - - - -38,387 Share capital increase 1,488,228 441,250 1,046,978 - - - - 1,488,228 - Other -33,751 - - 18,143 - - - 18,143 -51,894 Balance as at 31 December 2021 10,174,907 4,802,791 1,599,013 3,275,735 -159,922 -754,882 4,146 8,766,881 1,408,026

7 Consolidated statement of cash flows for the years ended 31 December 2021 and 2020 OPERATING ACTIVITIES Cash receipts from customers 1,656,183 1,502,906 Payments to suppliers -508,927 -365,012 Payments to personnel -176,479 -137,899 Other receipts / (payments) relating to operating activities -113,928 -47,068 Net cash from operations 856,849 952,927 Income tax received / (paid) -45,361 -45,247 Net cash flows from operating activities 811,488 907,680 INVESTING ACTIVITIES Cash receipts relating to: Changes in cash resulting from perimeter variations (*) 4,942 32,907 Property, plant and equipment and intangible assets 87,609 1,859 Interest and similar income 9,033 12,510 Dividends 31,926 28,695 Loans to related parties 628,382 320,538 Sale of subsidiaries with loss of control 615,298 1,072,259 Other receipts from investing activities 20,506 18,509 1,397,696 1,487,277 Cash payments relating to: Changes in cash resulting from perimeter variations (**) -26,963 -22,333 Acquisition of subsidiaries -87,721 -579,644 Property, plant and equipment and intangible assets -2,372,090 -1,547,262 Loans to related parties -487,917 -673,164 Other payments in investing activities -384,686 -302,259 -3,359,377 -3,124,662 Net cash flows from investing activities -1,961,681 -1,637,385 FINANCING ACTIVITIES Payments/receipts related with transactions with non-controlling interest without change of control - -1,007 Receipts / (payments) relating to loans from third parties 295,709 24,340 Receipts / (payments) relating to loans from non-controlling interests -39,777 -41,568 Receipts / (payments) relating to loans from Group companies -391,623 813,832 Interest and similar costs including hedge derivatives from third parties -39,599 -33,957 Interest and similar costs from non-controlling interests -6,227 -6,943 Interest and similar costs including hedge derivatives from Group companies -107,468 -136,858 Payments of lease liabilities -43,746 -43,555 Dividends paid -114,085 -106,630 Receipts / (payments) from derivative financial instruments 13,889 35,010 Receipts / (payments) from institutional partnerships in North America 692,164 248,728 Increases /(decreases) in capital and share premium by non-controlling interests (***) 1,413,909 -76,920 Other cash flows from financing activities - 37 Net cash flows from financing activities 1,673,146 674,509 Changes in cash and cash equivalents 522,953 -55,196 Effect of exchange rate fluctuations on cash held 6,447 -52,179 Cash and cash equivalents at the beginning of the period 474,384 581,759 Cash and cash equivalents at the end of the period (****) 1,003,784 474,384 (*) Refers to the acquisition of the DG business in EDPR NA and the operational companies Aria del Vento in Italy, Trung Son portfolio in Singapore and Vietnam and Vento Ludens portfolio in UK ((see note 6 and 42). (**) Refers mainly to i) sale of 2019 Vento XX portfolio and the companies Eólica do Sincelo, S.A. and Eólica da Linha, S.A. which proceeds are included in caption “Sale of subsidiaries with loss of control” (see note 6); and ii) reclassification to held for sale of certain portfolio of European companies (see note 27). (***) Relates essentially to the capital increase made by the company, net ot transaction costs (see note 28); (****) See note 26 of the consolidated financial statements for a detailed breakdown of Cash and cash equivalents. THOUSAND EUROS 2021 2020

8 Variations in the following captions, including cash flow variations, during the period ending December 31, 2021 are as follows: Balance as of December 31, 2020 619,600 3,277,917 200,281 1,933,545 -38,911 5,992,432 Cash flows - Receipts / (payments) relating to loans from third parties 295,709 - - - - 295,709 - Receipts / (payments) relating to loans from non-controlling interests - - -39,777 - - -39,777 - Receipts / (payments) relating to loans from Group companies - -391,623 - - - -391,623 - Interest and similar costs including hedge derivatives from third parties -34,040 - - - -5,559 -39,599 - Interest and similar costs from non controlling interests - - -6,227 - - -6,227 - Interest and similar costs including hedge derivatives from Group companies - -85,796 - - -21,672 -107,468 - Receipts/ (payments) from derivative financial instruments - - - - 13,889 13,889 - Receipts / (Payments) from institutional partnership in North America - - - 692,164 - 692,164 Changes of perimeter -84,102 - - -413,035 -452 -497,589 Exchange differences 42,245 201,534 1,976 168,317 141 414,213 Fair value changes - - - - 127,770 127,770 Accrued income/expenses 36,676 96,386 6,473 -23,063 -9,315 107,157 Unwinding - - - 79,023 - 79,023 Changes in U.S. Institutional Partnerships related to ITC/PTC - - - -177,205 - -177,205 Balance as of December 31, 2021 876,088 3,098,418 162,726 2,259,746 65,891 6,462,869 (*) Net of collateral deposits; (**) The Group considers as financing activities all derivative financial instruments excluding derivatives related with commodities; THOUSAND EUROS BANK LOANS (*) GROUP LOANS NON- CONTROLLING INTERESTS LOANS U.S. INSTITUTIONAL PARTNERSHIPS DERIVATIVES (**) TOTAL

9 COVID-19. Macroeconomic, Regulatory, Operational, Accounting Impact and Stakeholders In late 2019, in the Chinese city of Wuhan, a virus, SARS-COV-2, that can cause a serious respiratory infection like pneumonia was first identified in humans. During the year 2020, the desease caused by the virus, the COVID-19, was classified by the World Health Organization (WHO) as a pandemic. The COVID-19 has forced the world to change its habits and is having several social, economic, regulatory, operational, accounting and public health impacts. The current global crisis with the COVID-19 pandemic incorporates significant risks to the economy and society, remaining an uncertainty regarding the duration of the epidemic crisis and its long term economic impacts. In global macroeconomic terms, COVID-19 has impacted the EDPR Group's activity in its various geographies and areas of the value chain. However, a prudent strategy to hedge energy and financial market risks, the maintenance of robust liquidity levels as well as an active management of suppliers and critical supplies, have allowed to significantly mitigate the impacts of this crisis. EDPR Group has not applied any different classifications from those normally used in its income statement, as a result of COVID-19. To assess possible accounting impacts arising from COVID-19, the Group reassessed the estimates it considers relevant and which may have been impacted by this fact. Thus, on 31 December 2021, the Group carried out a series of analyses of the relevant estimates and has not determined any materially relevant impacts compared to 31 December 2020.

10 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED 31 DECEMBER 2021 AND 2020 01 The business operations of the EDP Renováveis Group 11 02 Accounting policies 29 03 Recent accounting standards and interpretations issued 46 04 Critical accounting estimates and judgments in applying accounting policies 48 05 Financial risk management policies 51 06 Consolidation perimeter 57 07 Revenues 63 08 Income from institutional partnerships in North America 63 09 Other income 64 10 Supplies and services 65 11 Personnel costs and employee benefits 65 12 Other expenses 66 13 Amortisation and impairment 67 14 Financial income and financial expenses 68 15 Income tax expense and Extraordinary Contribution to the Energy Sector (CESE) 68 16 Property, plant and equipment 72 17 Righ of use assets 75 18 Intangible assets 78 19 Goodwill 79 20 Investments in Joint Ventures and Associates 82 21 Deferred tax assets and liabilities 88 22 Inventories 90 23 Debtors and other assets from commercial activities 91 24 Other debtors and other assets 91 25 Current tax assets 92 26 Cash and cash equivalents 93 27 Assets and liabilities held for sale 93 28 Share capital and share premium 94 29 Other comprehensive income, reserves and retained earnings 96 30 Non-controlling interests 98 31 Financial debt 99 32 Provisions 102 33 Institutional partnerships in North America 102 34 Trade and other payables from commercial activities 104 35 Other liabilities and other payables 105 36 Current tax liabilities 107 37 Derivative financial instruments 107 38 Commitments 112 39 Related Parties 113 40 Fair value of financial assets and liabilities 117 41 Relevant subsequent events 119 42 Business Combination 120 43 Environment issues 128 44 Operating segments report 128 45 Audit and non-audit fees 129 Annex I 130 Annex II 151

11 01. The business operations of the EDP Renováveis Group EDP Renováveis, Sociedad Anónima (hereinafter referred to as “EDP Renováveis” or “EDPR”) was incorporated in Spain on 4 December 2007. Its main corporate objective is to engage in activities related to the electricity sector, namely the planning, construction, operation and maintenance of electricity generating power stations, using renewable energy sources, mainly wind and solar. The registered offices of the company are located in Oviedo, Plaza de la Gesta 2, Spain. On 18 March 2008 EDP Renováveis was converted into a company incorporated by shares (Sociedad Anónima). The Company belongs to the EDP Group, of which the ultimate parent company is EDP Energias de Portugal, S.A., with registered offices at Avenida 24 de Julho, 12, Lisbon. As at 31 December 2021, EDP Energias de Portugal, S.A through its Spanish branch EDP S.A. - Sucursal en España ("EDP Branch") held a qualified shareholding of 74.98 % of the share capital and voting rights of EDPR (82.6% as at 31 December 2020) and 25.02% of the share capital was free floated in the Euronext Lisbon (17.44% as at 31 December 2020). In December 2011, China Three Gorges Corporation (CTG) signed an agreement to acquire 780,633,782 ordinary shares in EDP from Parpública - Participações Públicas SGPS, S.A., representing 21.35% of the share capital and voting rights of EDP Energias de Portugal S.A., a majority shareholder of the Company. This operation was concluded in May 2012. Subsequent operations have modified such stake to 19.19% as at 31 December 2021. The terms of the above-mentioned agreement through which CTG became a shareholder of the EDP Group stipulate that CTG would make minority investments totaling 2,000 million of Euros in operating and ready-to-build renewable energy generation projects (including co-funding capex). Within the agreement mentioned above, the following transactions have taken place: • In June 2013, EDPR completed the sale of 49% equity shareholding in EDPR Portugal to CTG through CITIC CWEI Renewables S.C.A; • In May 2015, EDPR closed the sale of 49% of the following EDPR Brasil subsidiaries to CTG through CWEI Brasil participaçoes LTDA: Elebrás Projetos S.A, Central Nacional de Energia Eólica S.A, Central Eólica Baixa do Feijão I S.A, Central Eólica Baixa do Feijão II S.A, Central Eólica Baixa do Feijão III S.A, Central Eólica Baixa do Feijão IV S.A, Central Eólica Jau S.A. and Central Eólica Aventura S.A; • In October 2016, EDPR completed the sale of 49% equity shareholding in EDP Renewables Polska SP.Zo.o. to CTG through ACE Poland S.Á.R.L. and the sale of 49% equity shareholding in EDP Renewables Italia S.r.l. to CTG through ACE Italy S.Á.R.L.; • In June 2017, EDPR Group closed the sale of 49% equity shareholding in EDPR PT - Parques Eólicos, S.A. to CTG through ACE Portugal S.Á.R.L.; • In December 2018, EDPR completed the sale of 10% equity shareholding in the equity consolidated offshore company Moray East Holdings Limited to CTG through China Three Gorges (UK) Limited. As of 31 December 2021, EDP Renováveis S.A. directly holds a 100% stake in the share capital of the following companies: EDP Renewables Europe, S.L. (EDPR EU), EDP Renewables North America, LLC (EDPR NA), EDP Renewables Canada, Ltd. (EDPR Canada), EDP Renováveis Brasil, S.A. (EDPR BR), Colombian companies Eolos Energía S.A.S. E.S.P., Vientos del Norte S.A.S. E.S.P., Solar Power Solutions S.A.S. E.S.P., Vietnamese company EDP Renewables Vietnam Ltd., Singaporean company Trina Solar Investment First Pte. Ltd. and Chilean company EDP Renewables Chile SpA. Refer to Anex I for the perimeter of consolidation. The Group essentially operates in the European (Spain, Portugal, Poland, Romania, France, Italy, Greece, UK and Belgium), American (U.S., Brazil, Canada and Mexico) and Asian (Vietnam) energy sectors. EDPR Group is currently developing wind and solar onshore projects in other countries such as Chile, Colombia, Hungary, and South Korea. Further, EDPR Group signed an agreement with ENGIE on January 2020 to establish a co-controlled 50/50 joint venture, OW Offshore S.L. (Ocean Winds), in fixed and floating offshore wind business. This entity will be the exclusive vehicle of investment of EDPR and ENGIE for offshore wind opportunities worldwide (see note 6).

12 EDP Renováveis, S.A. reached an agreement to acquire an 87.4% stake in Sunseap Group Pte. Ltd., the largest distributed solar player and top 4 solar player in South East Asia. The operation has been structured through an agreement with the major shareholders of Sunseap for a total consideration of €0.6bn for an 87.4% stake, which may be upsized up to 91.4% until closing of the transaction. Sunseap is a Solar focused renewables company headquartered in Singapore and has more than 400 employees spread across 9 markets, namely Singapore, Vietnam, Malaysia, Indonesia, Thailand, Cambodia, China, Taiwan and Japan and by the time of the agreement had more than 0.5 GW of capacity in operation and under construction and almost 5 GW of pipeline in different stages of development. The transaction is subject to customary conditions precedent and as of 31 December 2021 the transaction was not yet completed. EDP Renováveis Group, through its subsidiaries has an installed capacity, as follows: Additionally, the EDP Renováveis Group through its equity-consolidated companies has an installed capacity, attributed to EDPR, as follows: United States of America 592 471 Spain 156 167 Portugal 31 20 Offshore 311 10 1,090 668 Regulatory framework for the activities in North America EDP Renewables operates in most of the electricity markets in the U.S., Canada, and Mexico. The nature of regulations and market rules vary from market to market with different degrees of influence from Federal and State/Provincial regulators in each market. The opportunities and constraints for EDPR assets and prospects are significantly defined by these regulations and market rules. Regional Transmission Organizations (“RTO”), Independent System Operators (“ISO”) exist throughout much of North America to operate a region's electricity grid, administer the region's wholesale electricity markets, and provide reliability planning for the region's bulk electricity system. RTOs carry additional responsibility for the region’s transmission network. U.S. markets with RTOs and ISOs fall under greater Federal influence through the Federal Energy Regulatory Commission (“FERC”) which results in more transparent tariff and market rules. INSTALLED CAPACITY MW 31 DEC 2021 31 DEC 2020 United States of America 5,908 5,828 Spain 2,194 2,137 Portugal 1,142 1,228 Brazil 795 436 Poland 747 476 Romania 521 521 Mexico 400 400 Italy 384 271 France 181 125 Canada 130 68 Greece 45 - Vietnam 28 - Belgium 11 10 United Kingdom 5 - 12,490 11,500 INSTALLED CAPACITY MW 31 DEC 2021 31 DEC 2020

13 Regulation and market rules for regions not in RTO/ISO footprints tend to be influenced by various combinations of entities including State regulators, vertically integrated utilities, municipal governments, and Federal Agencies. In Canada, the regulatory framework varies depending on the particular Province or Territory. Provincial regulators have jurisdiction over their province’s energy generation, intra-provincial transmission, distribution, retial pricing and wholesale markets (if such markets exist). In general, EDPR seeks to build assets in North American markets where long-term contracts are available for the bulk of the output of its generation facilities. In addition to electrical power, our facilities can produce capacity and ancillary services in regions with demand for these products. Many states have enacted Renewable Portfolio Standards (“RPS”) require obligated entities to provide a certain percentage of their energy supply from qualifying renewable sources, similar to the Renewable Energy Directive in the EU. In Canada, Provincial Governments have required utilities to procure supply from renewable facilities with programs such as Ontario’s Large Renewable Procurement Programs. Over the last few years, U.S. states have expanded these targets such that renewable portfolio standards in over fifteen states require 50% or more of their energy supply to be delivered via renewable resources in the next ten to twenty years. Further, more than ten states have set requirements to achieve 100% clean energy supply by 2050. Certain facilities within the EDPR wind and solar portfolio, given their location, produce renewable energy credits (“REC”), certificates of clean energy (“CEL”) and other environmental attributes which are typically sold, along with the energy, capacity, and ancillary services, from the plants under long-term contracts. These RECs generated via renewable production may also be sold separately from the wind and solar generation, if not already included in the long-term contracts. The party owning the RECs is solely entitled to the benefits of the environmental attributes. U.S. federal, state and local governments have established various incentives to support the development of renewable energy projects. Included in these incentives are the Investment Tax Credit (“ITC”), Production Tax Credit (“PTC”), cash grants, and tax equity financing. Pursuant to the U.S. federal Modified Accelerated Cost Recovery System, wind and solar projects are fully depreciated for tax purposes over a five-year period even though the useful life of such projects is generally much longer than five years. Owners of utility-scale wind facilities are eligible to claim the ITC upon initially achieving commercial operation or PTCs for generation from qualifying facilities. The PTC is awarded based on the volume of electricity produced by the wind facility during the first ten years of commercial operation. This incentive was established by the U.S. Congress as part of the 1992 Energy Policy Act and has been extended several times, most recently as part of the $1.4 trillion omnibus and COVID-19 relief package. The ITC and PTC levels for a given facility depend on that facility’s start of construction date and commissioning date and remain fixed at this level for the first ten years of operation. The COVID-19 crisis continued to create challenges for clean energy companies seeking to advance the development of wind and solar projects. Delays in equipment manufacturing, shipment deliveries, work stoppages, and labor force restrictions, among other things, caused project development and construction timelines to slip and created some risk of projects not meeting their safe harbor deadlines for placement into service. The U.S. Department of the Treasury (Treasury) determines eligibility under the federal law governing qualification for the wind energy production tax credit (PTC) and the solar energy investment tax credit (ITC). Treasury has allowed projects a “safe harbor” with respect to qualifying for the tax credit available in the year construction commenced, so long as the project subsequently was placed in service within a certain period of years. Guidance from Treasury (issued 20 June 2020) continues to apply; 1. Extends the placed-in-service safe harbor to six years for facilities that began construction in 2016, 2017, 2018 or 2019; 2. Extends the placed-in-service safe harbor to five years for facilities that began construction in 2020; and, 3. Provides that taxpayers not relying on the continuity safe harbor may demonstrate continuity by using the “continuous efforts” standard rather than the more restrictive “continuous construction” standard, regardless of whether the project started construction under the physical work pathway. 4. Qualifying equipment procured in 2016 can now be deployed in 2022 and be eligible for the full PTC (previously it would have had to be deployed in 2021); and 5. Qualifying equipment procured in 2017 can now be deployed in 2023 and be eligible for the 80% PTC (previously it would have had to be used in 2022).

14 Regulatory framework for the activities in Spain The main piece regulating the Spanish electricity sector is Law 24/2013 that replaced Law 54/1997. This law is part of a comprehensive reform of the Spanish energy sector. The main purposes of this law is to adapt the regulation to the evolution of the electricity sector and to guarantee the sustainability of the system in the long term, removing existing deficiencies in the system operation. Specifically, the Law aims at correcting the structural tariff deficit. The law sets principles and provisions governing the electricity sector, with the objective to effectively guarantee the supply of electricity and to adapt it to the needs of consumers ensuring safety, quality, efficiency, objectivity, transparency and electricity at the minimum cost. As a part or this Energy Reform, Royal Decree-Law 9/2013 was passed in July 2013. The purpose of this Royal Decree-Law was to adopt a series of measures to ensure the sustainability of the electricity system. In particular, RDL 9/2013 introduced a new legal and economic regime for existing renewable, cogeneration and waste energy facilities. The RDL set the principles governing these facilities, and these principles were then developed by law 24/2013 and Royal Decree 413/2014. In accordance with this new framework, renewable facilities would receive during their operating lifetime, in addition to the remuneration for the sale of the energy valued at the market price, a specific remuneration composed by (i) an “investment premium” and (ii) “an operating remuneration premium” designed to cover the share of a facility’s operating costs that could not be recovered by means of energy sales. The calculation of the aforementioned remuneration shall be carried out on the basis of the standard costs and revenues (initial investment, operation and revenue from the sale of energy) corresponding to a “standard power plant, over the useful regulatory life and based on the business activity that would be carried out by and efficient and well-managed company”. Under this scheme, projects would receive a remuneration guaranteeing a “reasonable profitability” calculated, for the first six-year regulatory period, at "300 basis points above the yield on 10-year government bonds over the last ten years”. The Spanish Government published in June 2014, Order IET/1045/2014, which included the parameters to remunerate the renewable energy assets, under the new remuneration framework. DL 413/2014 confirmed that wind farms that started operations in 2003 (or before) would not receive any further incentive, while the rest of wind farms would receive an incentive calculated in order to reach a 7,398% return. This order describes more than 1,300 possible types of renewables installation, 23 of them corresponding to wind farms of more than 5 MW classified by the year of first operation (from 1994 to 2016). In October 2015 the Government approved Royal Decree 947/2015 and a Ministerial Order aimed at allowing the installation of new renewable capacity through competitive tenders. In January 2016, the first auction renewable auction was held. The auction was designed to provide a similar remuneration that the one applying to operating installations (RD 413/2014). Following this framework, tender participants were requested to bid discounts on the “initial investment” (CAPEX) parameter which would then, by being plugged in the formula set by RD 413/2014 determine the “Rinv” (investment premium) that would eventually be awarded. Following the outcome of the first 2017 tender, the Spanish government decided to launch an additional tender for a maximum of 3 GW. This new tender was held in July, and was opened to wind and solar PV exclusively. Additionally, the royal decree ruling the tender (RD 650/2017) included the possibility to increase the allocated capacity to all capacity bidding the same discount, provided it would not create an overcost to the system. Following this clause, all projects offering the maximum allowed discount were successful (no tiebreaker rule was triggered). In October 2018, the Spanish Ministry for Energy transition and environment introduced several measures aiming at limiting electricity cost for final consumers and serving as a first step towards the long-term energy transition. The implemented measures include the suspension of the 7% generation tax during a period of 6 months, the facilitation of self-consumption and the administrative extension until March 2020 of the connection rights for the renewable plants awarded in previous year´s auctions. On 22 November, 2019 Royal Decree Law 17/2019 was passed, introducing a series of measures aimed at guaranteeing a stable regulatory and economic framework to encourage the development of renewable energy generation in Spain. The RDL updates the “reasonable return” for renewable generation for the next regulatory period starting on 1 January 2020 at a level of 7,39% for assets before RDL 9/2013 and 7,09% for the new ones.

15 Another objective of the RDL was to adopt a new regulation governing access to the network in nodes affected by the closure of coal and nuclear power plants and concessions for the private use of water, where new renewable projects could offer an alternative. The grid access to renewable projects in areas affected by the closure of thermal facilities, is based on the technical and economic benefits, as well as the environmental and social ones, in particular job creation. In January 2020, the CNMC’s Circular 3/2020 was approved. The Circular sets the methodology to calculate access fee and removes the former 0,5€/MWh that generators had to pay. A new fee of 0,13741 €/MWh was introduced to remunerate the system operator. On 28 February 2020 the final version of the Rinv (investment premium) adjustment was published (as in 2019 ended the second semi-regulatory period of the RD 413/2014 framework). Three main adjustments were introduced: (i) the estimation of pool prices using forward prices, (ii) the adjustment of the OPEX to reflect the removal of the 0.5 €/MWh access fee and (iii) the inclusion of the system operator remuneration. On 14 March 2020 Royal Decree 463/2020 entered into force, declaring the state of alarm for the management of the health crisis caused by the coronavirus (COVID 19). During extreme situations (among them, health crises) article 116 of the Spanish Constitution allows the executive to declare the state of alarm, a measure that enables it to prohibit the free movement of people throughout the country and to take all steps required to guarantee the supply of food to the nation's markets. It also allows the government to take over the means of production and requisition goods. Initially the state of alarm was set to last until March 29 but the Congress extended it to June 21. Also, the government toughened the lockdown measures requiring the halt of all “non-essential” activities from March 30 to April 9, including wind farms’ construction. Several subsequent Royal Decrees were published during the State of Alarm. These RD included economic and social measures to fight the pandemic effects. Despite the lockdown, several consultations were launched by the Energy Ministry (Hydrogen Strategy, Electric Energy Storage (EES), offshore strategy and FEDER auctions. Due to the disruption caused by COVID-19, a 2-month extension (from the last day of the state of alarm) of the connection rights expiring on 31 March 2020, was decided. The final version of the Spanish NECP (National Energy and Climate Plan) for the period 2021-2030 was sent to the European Commission. The Government approved Royal Decree Law 23/2020 of 23 June approving measures in the area of energy and other areas aimed at economic recovery. The objective of this Royal Decree Law is to guide energy policy for economic recovery, financial resource mobilisation and sustainable job creation. In particular, RD/2020 consists of a battery of measures intended to help the energy transition, remove barriers to the large-scale deployment of renewable energy sources and promote energy efficiency. On 17 July 2020 the Ministerial Order TED/668/2020 was approved, setting the adjusted “Rinv” (investment premium) values for 2018 and 2019, accounting for the temporal suspension of the 7% levy on generation during Q4 2018 and Q1 2019. The Ministry for the Ecological Transition and Demographic Challenge (MITECO) decided to allocate 316 million euros to support innovative projects that favour the integration of renewable energies in the systems. Different lines of action, drawn up in collaboration with the Autonomous Communities, are expected to contribute to the achievement of the objectives that Spain, in its NECP, has set in this area: doubling the consumption of renewable energy by 2030, and reaching climate neutrality in 2050. Specifically, the Official State Gazette (BOE) published on August 3 set the regulatory criteria to allocate 246 million euros in aid to renewable projects in a competitive competition regime. On 10 September 2020 several tenders were announced in Madrid, Andalucía, Extremadura, Asturias, Castilla La Mancha, Cataluña and Murcia regions. The announced competitive procedures will allocate 80 million euros to renewable projects. On 4 November 2020, Royal Decree 960/2020 regulating the economic regime for renewable energies for electricity production facilities, was approved. The RD sets the framework for a new scheme for RES investment (including hybrid, energy storage projects and repowering) to be awarded in auctions. It defines some general characteristics of the scheme, although most aspects remain flexible and will need to be defined in lower level legislation. Additionally, it sets the obligation of publishing a 5-years auction calendar. Regarding the auction mechanism, the RD establishes that the auction product may be power, energy or a combination of both and that auctions would be structured as pay-as-bid ones. A maximum price will be set although it may be confidential and a minimum price may also be introduced. The awarded price will be defined in €/MWh and will not be indexed.

16 The RD includes the possibility of defining so-called “symmetrical incentives” for market participation. In this case, the price received for the energy sold in each market (day-ahead/intra-day) will be adjusted by a factor applied to the difference between (i) the price of the day-ahead market and (ii) the awarded price. The tenure of the scheme is set as the sooner of achieving a maximum energy, or 10 to 15 years (exceptionally up to 20 years for technologies with high CAPEX or high technology risk which will need to be defined for each auction). Following the approval of RD 960/2020, The Ministry for the Ecological Transition and Demographic Challenge (MITECO) approved Order TED/1161/2020 of December 4, 2020 in which it sets the auction mechanism for the first auction. The Order also includes the auction calendar for the next 5 years. Over the next 5 years, the Spanish Government plans to launch tenders for 20GW of renewable power (mainly wind: 8.5GW and solar PV: 10GW) in order to achieve the 60GW target set out in the Spanish National Energy and Climate Plan for 2021-2030. On 29 December 2020, the Royal Decree on access and connection to the energy transmission and distribution networks (RD 1183/2020) was approved. This Royal Decree establishes the principles and criteria in relation to the application, processing and granting of permits for access and connection to the electricity transmission and distribution networks. With the approval of this RD, the government aims at preparing the regulatory framework for the planned deployment of renewables, while helping to eliminate inefficiencies and speculative behaviours to ensure the achievement of energy policy objectives. The first auction under the new auction framework (set by RD 960/2020) was held on 26 January 2021. In total 3.034 MW were awarded: 2.036 MW of solar PV projects (at an average price of 24,47 €/MWh) and 998 MW of onshore wind’s (at an average price of 25,31€/MWh). Winning bids were awarded 12-year power purchase agreements (PPAs). In May 2021, the Spanish Parliament approved a law on climate change and energy transition (Law 7/2021), which will bring the country into line with the EU’s goal to become carbon neutral by 2050. As an intermediate target, the law targets to cut emissions 23% by 2030, compared with 1990 levels. Regarding the renewables’ sector, the law foresees a reform of the electricity sector aimed at fostering: (i) the participation of consumers in the markets including aggregation and demand response and (ii) investment in variable and flexible renewables, distributed generation and energy storage among others. A fiscal reform Is also foreseen focused on green taxation. In June 2021, the European Commission adopted a positive assessment of Spain’s Recovery and Resilience Plan. The financing will amount to 69,5 b€ in grants and will support the implementation of the crucial investment and reform measures outlined in the Plan. The presented Plan devotes 40% of its total allocation to measures that support climate objectives (sustainable mobility, energy efficiency and deployment of renewable energies, among others). In June 2021, the government released Royal Decree-Law 12/2021 which adopted urgent measures in the field of energy taxation and generation. The RDL approved the suspension of the 7% generating tax and a reduction of value added tax for electricity bills (from 21% to 10%) until the end of the year. The VAT reduction would be applied to consumers with contracted power <10 kV (if wholesale prices were more than 45€/MWh) and to vulnerable consumers (regardless market prices). These measures come after Spain changed its hourly bands for calculating power bills and amid soaring power prices. On 16 September 2021, Royal Decree-Law 17/2021 (RDL 17/2021) on urgent measures to mitigate the impact of rising natural gas prices in the retail gas and electricity markets, came into force. In line with the previous Royal Decree-law, the new regulation introduced different measures to cushion the escalation of electricity prices and limit the amount of consumers’ electricity bills. - One of the measures consists in introducing a mechanism to reduce the over-remuneration that certain facilities receive, due to the marginal cost price setting of the energy market - The RDL also introduced a new type of long-term power purchase auction to be held alongside the wholesale market. In these auctions, certain operators must offer their CO2-free, manageable inframarginal generation products (not included in the renewables auctions), with a settlement period equal to or greater than one year - The regulation also includes tax measures. On the one hand, the rate of the Special Tax on Electricity, was reduced to 5,1% to 0,5% until 31 December 2021. On the other hand, it extended the temporary suspension of the tax on the Value of Electricity Production (the 7% levy) to the fourth quarter of 2021.

17 - In addition, the RDL sets a Minimum Vital Supply for vulnerable consumers by which the cut off of the electricity supply is prohibited to the beneficiaries of the Electric Social Bonus for six months in addition to the four already existing (thus, during 10 months in total). On 26 October 2021 Royal Decree Law 23/2021 was approved, adopting urgent measures to protect energy consumers and bring transparency into the wholesale and retail electricity and natural gas markets. On the one hand, this RDL increases the discounts of the electricity social bond from 40% to 70% for severe vulnerable consumers and from 25% to 60% for vulnerable consumers until the end of March 2022. The minimum amount of the thermal social bonus for the year 2021 was also increased from 25 to 35 euros. On the other hand, the RDL limits the scope of application of the mechanism to reduce over- remuneration obtained by some generating facilities, regulated in RDL 17/2021. Finally, it contains some measures to strengthen transparency in the electricity and gas markets. The Spanish companies of the Group are therefore excluded from the scope of application of the mechanisms to reduce over-remuneration, since, according to the RDL 23/2021, the Group has derivatives and PPAs to hedge energy sales prices. The second renewables auction of 2021 was held on October 19, awarding 2.258 MW capacity for onshore wind projects (at an average price of 36,68€/MW) and 866 MW solar PV (at an average of 31,65€/MWh) to the winners. Regulatory framework for the activities in Portugal The principal pieces of legislation regulating the Portuguese electricity sector are Decree-Law 29/2006 of 15 February 2006 (amended by Decree-Law 215-A/2012) and Decree-Law 172/2006 of 23 August 2006 (amended by Decree-Law 215- B/2012). The legislative framework for renewable energy is primarily contained in Ministerial Order 243/2013 of 2 August 2013, which sets out the terms, conditions and criteria for the licensing of electricity generation under special regime with guaranteed remuneration. The Portuguese legal provisions applicable to electricity generation from renewable resources are currently established by Decree-Law 189/88 dated 27 May, as amended by Decree-Law 168/99 dated 18 May, Decree-Law 312/2001 dated 10 December, and Decree-Law 339-C/2001 dated 29 December. Also relevant is Decree-Law 33-A/2005, dated 16 February 2005 (“DL 33-A/2005”), which establishes the remuneration formula applicable to energy produced by renewable sources (this is, the formula to calculate the feed-in tariff). In September 2012 and after months of negotiations, the Portuguese wind industry reached an agreement with the Portuguese government to extend the existing feed-in tariff regime in exchange of an upfront payment. Following the agreement, the Portuguese Government published a decree articulating its terms, the Decree Law 35/2013. The Government proposed four alternative tariff schemes to be chosen by wind developers. EDPR and ENEOP chose a 7-year extension of the tariff defined as the average market price of previous twelve months, with a floor of 74€/MWh and a cap of 98€/MWh to be updated annually with inflation from 2021 onwards, in exchange of a payment of 5.800€/MW from 2013 to 2020. The Environment and Energy Ministry published in July 2014, Decree Law 94/2014 that allowed wind operators to increase the capacity of their operating wind farms up to 20%. The additional production generated by the increased capacity is remunerated at 60 €/MWh, whilst the remaining production is remunerated following the feed-in tariff scheme. The Portuguese government, in its 2019 Budget, included an extension of the special energy tax (so-called CESE) to renewables. However, renewable facilities with licenses granted through public tenders are exempted. In line with the 2019 Budget, the 2020 State Budget envisaged that small producers (up to 20 MW) would be exempted from paying the CESE. Also, passive subjects with more than 60 MW under tariff schemes would also be exempted from paying the tax. On 31 January 2019 Portaria 43/2019 on over-equipment “sobrequipamientos” (“SE”) was published. The new Portaria set a new remuneration scheme for SE of 45€/MWh (non-indexed values) for 15 years, period after which the SE would be under the ordinary regime not being entitled to be under the tariff extension scheme set by D-L 35/2013. The new scheme exempts developers from requesting ERSE authorization to the SE.

18 On 3 June 2019 the DL 76/2019 was published. This DL is a comprehensive review of the legal basis of the Portuguese electricity sector. Regarding new renewable capacity, the Decree changes the order in which grid capacity reservation and production license are obtained. New projects will need to obtain the title of grid capacity reservation prior to applying for the production license. The Decree also introduces three ways to obtain grid capacity reservation, being one of them through competitive tenders. Portugal launched its first utility-scale renewable energy auction in July 2019, for 1,4 GW of solar PV capacity. Developers could present two kinds of offers: one with a fixed price below €45/MWh and another with a variable tariff which included a requirement to pay compensation to the electricity system, depending on spot market power prices. Both systems would have a 15-year length. In December 2019, the DGEG (Direção-Geral de Energia e Geologia) released regulation of the Licensing Monitoring Committee (Comissão de Acompanhamento dos Processos de Licenciamento) of the solar PV plants resulting from the 2019’s Auction. This Committee was set up with the aim of contributing to the fulfilment of the obligations arising from the tender procedure, in particular regarding the deadline for obtaining the licence In Portugal, a GO (Guarantees of Origin) system was launched starting in March 2020. Registration shall be compulsory for renewable producers above 5 MW and high efficiency cogeneration. Until 2021YE, renewable plants <1 MW and self- consumption ones will be exempted. In order to prevent further spread of the Covid-19, the state of emergency was declared by Presidential Decree no. 14-A/2020, of 18 March, as authorized by the Parliament’s Resolution no. 15 A/2020, of 18 March 2020. DGEG suspended all deadlines linked to licensing procedures for all electrical projects after 16 March 2020. In particular, this suspension comprehends the deadlines for any administrative proceeding to be performed by solar promoters with projects awarded in the first solar auction (June 2019). The Emergency State was lifted on 2 May 2020 and replaced by the Calamity State. On 27 March 2020 a new solar auction was announced by the Energy Secretary of State. Developers had to choose one of the following three remuneration schemes: • A fixed guaranteed tariff structure, where the bids expressed a discount to a reference price, in €/MWh. Awarded projects would enter into an hourly two-side CfD with OMIP for 15 years. The CfD would be settled based on the actual price captured by the specific plant. • A market scheme where the promoters bid for a contribution made to the National Electric System (“SEN”) and where the promoters that bid the largest contributions would be awarded with the capacity title. Participants would then commit to pay this quantity for 15 years and their projects would get their revenues from participating in the electricity market on a merchant basis. • A new system consisting of a market scheme for power plants incorporating a storage system, in which participants bid the value of the capacity payment that would like to receive in €/MW (MW of connection capacity). In exchange, they shall sign a “one-side” CfD contract (“available contract”) with REN to protect the system against price spikes events. On 31 March 2020 Law 3/2020 accompanying the State Budget was published setting the main policies and investments for the 2020-23 period. In terms of energy, the path to carbon neutrality in 2050 is set by confirming the 55% emission reduction target in 2030, promoting regional guidelines for carbon neutrality and envisaging the development of 5-year carbon budgets. Also, the main goals of the Portuguese National Energy and Climate Plan (NCEP) are also confirmed by the Law (preparation works for coal phase out, installations of 2 GW of solar PV in the next 2 years, reinforcement of existing onshore, promotion of hybrid and Energy storage, offshore wind, hydrogen, etc.). Energy efficiency, e-mobility and economic incentives for decarbonization are also among the government priorities. On July 10 the Ministry Council officially approved the NCEP setting 2030 Renewable targets. The Plan commits to a 47% RES contribution that translates into 80% RES-E. According to the NCEP, Portugal expects to reach 9,3 GW of wind and 9 GW of solar PV by 2030. Additionally, on 9 June 2020 the Council of Ministers approved the Supplementary Budget for 2020. The proposed law amends the State Budget law for 2020, allowing the materialization of the Economic and Social Stabilization Program. On 10 July 2020 the Ministry Council officially approved the Portuguese National Energy and Climate Plan (NCEP) setting 2030 Renewable targets. The Plan commits to a 47% RES contribution that translates into 80% RES-E. According to the NECP, Portugal expects to reach 9,3 GW of wind and 9 GW of solar PV by 2030.

19 DL 35/2013 introduced the tariff extension regime for wind producers: in exchange of 5.8 k€/MW payment from 2013 to 2020, producers were entitled to enter a cap and floor regime of 74 and 90 €/MWh during seven years once the initial tariff is exhausted. Both payments and cap and floor values were subject to indexation: • From 2023 to June 2020 based on the Kn factor, which envisages an annual adjustment for the difference between CPI and 2% • After June 2021 with CPI, applied over the reference value So far, ERSE has applied literally the indexation formulas, that is, individually on each year, without cumulation. Despacho n.º 6304/2021, published in June 2021, set that kn shall be applied on a cumulative basis, meaning that in 2020 the initial floor value of 74 €/MWh would change to 66 €/MWh. The Despacho mandated ERSE to regularize payments and to apply the new methodology in the next update to be applied already in July 2021. The European Commission adopted in June 2021 a positive assessment of Portugal’s Recovery and Resilience Plan. The Plan total 13,9 b€ of grants and 2,7b€ in loans and devotes 38% of its total allocation to measures that support climate objectives. This includes investments to finance a large-scale renovation programme to increase the energy efficiency of buildings or the promotion of energy efficiency and the use of alternative energy sources in industrial processes. In January 2022, a new Decree Law governing the functioning of the SEN (National Energy System) was approved. The legislation had been under public consultation. The new DL has been structured into five fundamental axes, namely the administrative activity of control of the activities of the SEN, networks planning, the introduction of competitive mechanisms for the exercise of the SEN’s activities, the active participation of consumers in generation activities and in markets, and, the legislative framework for the development of new realities (such as repowering, hybridization and storage). The DL also transposes into national law EU directive 2019/244 regarding internal electricity market rules and the Renewable Energy Directive. Regarding renewables, the DL keeps the three options to obtain grid connection (general, agreement and auction) and includes a payment of 1,5k€/MW in the general case and an obligation to install self-consumption devices for the municipalities equivalent to 0.3% of the connection capacity (or a compensation of 1,5k€/MW). Also, the DL includes deadlines to obtain production licenses and set the obligation to generators to present a “decommissioning plan” for the facility. Repowering of power plants is allowed up to 20% or more, until the NECP targets are achieved (and the original remuneration scheme can be kept by the repowered assets). Regulatory framework for the activities in France The electricity sector in France is primarily governed by Act 2000-108 passed on 10 February 2000, which constitutes the general legislative framework for the operation of generation facilities. Act 2000 allowed wind operators to enter into long-term agreements for the purchase and sale of their energy with electricité de France (EDF), the national incumbent. The tariffs were initially set in 2006, then updated in the “Arrêté du 17 novembre 2008” at the following level: i) during the first ten years of the EDF Agreement, EDF would paid a fixed annual tariff, set at €82/MWh for wind farms that had made the application in 2008 (after 2008, this tariff was updated using an inflation- related index); ii) During years 11 to 15 of the EDF Agreement, the initial tariff would be revised considering the load factors achieved by the facility iii) After year 16, no specific support scheme would be granted (wind farms would need to sell the energy in the market and would receive market prices). In July 2015, the “Energy Transition Bill”, whose aim was to build a long-term and comprehensive energy strategy, was passed. In 66 articles, the bill included ambitious emission reduction targets while it also targeted to reduce fossil fuels use (including nuclear). Regarding renewables, the Energy Transition Bill increased the renewable target up to 32% by 2030. A new Contract-for-difference (CfD) was released in December 2016 in line with the European “Guidelines on State aid for environmental protection and energy 2014-2020”. According to this new scheme, wind farms having requested a PPA in 2016 would receive a 15-years CfD, being the strike price (and the terms of the tariff) very similar to the previous feed-in tariff.

20 From 2017 onwards, wind farms of more than 6 wind turbines (and more than 3 MW per turbine) would need to participate in competitive tenders to obtain a 20-year CfD. The first tender was held in November 2017. However, smaller wind farms (with 6 turbines or less, and 3 MW per turbine or less) would be exempted from participating in tenders. On 27 November 2017, the “Pluriannual Energy Planning” (PPE) was released. According to the PPE, 40% of the energy would be produced from renewable sources by 2030.The PPE included different targets for renewables: 35,6-44,5 GW of solar capacity, 34-35,6 GW of onshore wind and 4,7-5 GW of offshore wind, by 2028. On 29 November 2017, the government approved the Décret 2018-1054 aimed at accelerating legal procedures following claims against the administrative authorization of wind farms. In particular, the Decree removes the two-level court system in the event of litigation. The third offshore round took place in March 2019 with all major players participating (grouped in 10 consortiums). The French Parliament approved on 26 September 2019 the so-called “Energy and Climate Law”, committing the country to carbon-neutrality by 2050. The adoption of the Energy-Climate law constitutes a major step toward achieving the government's ambition to address climate change by becoming carbon neutral by 2050. This objective represents a reduction of France's greenhouse gas emissions by a factor of more than six compared to 1990’s emission level. In order to achieve carbon neutrality by 2050, the Energy-Climate law provides for the reduction of fossil fuels consumption by 40% by 2030 (instead of the previous 30% target) and for the end of coal-based electricity generation by 2022. The law provides that the share of nuclear in the electricity mix should be reduced to 50% by 2035. Regarding wind energy, the law redefines the authority responsible for permitting onshore wind projects. Concerning offshore wind, the law also includes a higher target of auctioning 1 GW of capacity until 2024 (doubling the volumes defined by France’s initial energy plan published in January 2019). A new version of the PPE (Programmation Plurianuelle de l´Énergie) was approved in 2020, in line with the final version of France’s NECP (National Energy and Climate Plan). It increased offshore wind targets vs. the previous version whilst decreased solar PV’s. In total, the PPE sets that France will need to achieve between 33,2 and 34,7 GW of onshore wind in 2028, 5,2-6,2 GW of offshore wind and 35,1-44 GW of solar PV. The PPE also includes a schedule of tenders to be held between 2020 and 2034. The French Assemblée Nationale approved on 21 March 2020, a law introducing the “State of health emergency” during the coronavirus pandemic. The law includes measures limiting private liberties (such as lock-downs and requisitions) and contains provisions regarding postponing the second round of the French municipal elections, economic measures to support the economy and other measures impacting the French justice and labour law. Measures easing restrictions across the country were applied from May 11. Economic rescue packages could amount to up to 110 billion euros, and will include guarantees, loans, moratorium on debt repayments, among others. In the renewables sector, extensions of several deadlines have been envisaged to cope with delays and the sector has itself been declared “strategic”. Test periods for CR16 and CR17 projects have been extended 3 months. Additionally, a 7-month extension of COD deadlines has been announced but will be restricted to wind and solar projects with (i) COD initially scheduled after March 12th, (ii) remuneration scheme granted before or during the period March 12 to June 23 and (iii) nominal capacity less than 200 MW. On 8 September 2020 France published a hydrogen commitment, exceeding previous European national strategies, by pledging 6.5GW of electrolyser capacity by 2030. The plan came after the French government announced an economic recovery plan due to the coronavirus outbreak of €100bn, including €30bn entirely devoted to ecological transition. The newly hydrogen strategy included a commitment of €7bn budget for low-carbon hydrogen between 2020-2030. The European Commission endorsed in June 2021 the French Recovery and Resilience Plan. According to it, the EU will disburse 39,4 b€ in grants. The Plan devotes 46% of the total allocation to measures that support climate objectives. It features significant investments in R&D and innovation, in particular in the field of green technologies that should promote they deployment of renewable hydrogen. In April 2021, the Energy Regulator (CRE) released the new set of rules (“Cahier des Charges”) that will govern auctions (both technology-specific and neutral) from the second half of 2021 until 2026. According to the document, there will seven types of tenders for a total of 34 GW of new renewable capacity (including: (i) ground-mounted solar PV, ii) building-mounted solar PV, (iii) onshore wind, (iv) hydro, (v) innovative solar, (vi) self-consumption and (vii) technology neutral tenders). Winning projects will be supported by 20-year CfD. The European Commission gave green light to the Cahier des Charges in August 2021, under the EU State aid rules.

21 Law No. 2021-1104 on combating climate change and strengthening resilience (“The Climate and Resilience Law”) was adopted on 24 August 2021. The law is regarded as a text aiming at supporting the ecological transition by helping France reach its 40% emission reduction targets by 2030. In particular, the law seeks to improve the air quality of large cities, support building renovation, promote electric mobility, among other objectives. Regarding solar PV, a cost reduction for the grid connection of small PV systems is included, and the solarization of new buildings. With regards to onshore wind, the law finally did not include a right for mayors to veto wind projects (they will be mandatorily consulted prior to any work but won´t have a right to veto). Finally, the law includes several provisions seeking to accelerate/streamline renewables development. For example, in order to ensure better implementation of renewable targets, specific targets will be set at a regional level, with local authorities having to implement specific territorial objectives. Regulatory framework for the activities in Poland The legislation applicable to renewable energy in Poland was initially contained in the “Energy Act” passed on 10 April 1997, which was subsequently amended in 2002 and 2004. The Energy Act introduced a Green Certificate scheme with mandatory quotas. According to the scheme, energy suppliers are required to: a) purchase GC and submit them to the Energy Regulator, or b) pay a substitution fee calculated in accordance with the Energy Act. If suppliers fail to meet their obligation (either the submission of GC or the payment of substitution fee), they must pay a fine, equal to 130% of the substitution fee in that year. The Green Certificate scheme was replaced in 2015 by a new system, consisting in Contracts-for-Difference (CfD) granted through competitive tenders. However, the law guaranteed that the GC scheme would be maintained (with some adjustments) for operating plants. The law also introduced the possibility for operating plants to voluntary shift to the CfD system, through specific tenders for operating assets. In June 2016, after a long approval process, the so-called “Wind Turbine Investment Act” was approved, including (i) new minimum distance for new wind farms and (ii) higher real estate tax burden. In July 2017 a new methodology to calculate the substitution fee was approved. According to the new formula, the substitution fee would be calculated every year as 125% of the average CG market price of the previous year capped at 300PLN. In October 2018, the Energy Regulatory Office published a call for the first auction in Poland in which wind onshore and solar PV with capacity above 1MW could participate to get a 15- year CfD. The first auction was held in November 2018. Poland’s National Energy and Climate Plan (NECP) was sent to the European Commission in December 2019. The Plan targets a 23% share of renewable energy in 2030. In addition, the share of renewables in electricity generation will rise to 32% in 2030. Onshore wind installed capacity could increase up to 9,6 GW in 2030 while offshore wind to 3,8 GW in 2030 and 8 GW in 2040. On 13 March 2020, the Minister of Health announced a state of epidemiological threat in Poland, which is a legal situation aimed at introducing measures to reduce the spread of COVID-19. Following the announcement, some restrictions were approved, including the prohibition on entering the territory of Poland for foreigners, the obligation of a 14-day home quarantine or the suspension of all international flight and railway connections, among others. The restrictive measures started to be lifted on April 20th. Several economic relief measures, the so-called government anti-crisis shields, were approved since the start of the state of epidemiological threat. In particular, the following ones apply to renewable producers: • renewable projects awarded in the 2018 and 2019 auctions would benefit from COD extensions (up to 12 months), if some delays are proved (for example, (i) delays in the delivery of equipment that is part of the installation, (ii) in the construction or (iii) the grid connection, among others); • also, power companies will be obliged to adjust in the grid connection agreements the date of the first delivery, considering the deadlines extensions. In February 2021, the Polish Government announced the approval of the “Poland’s energy policy until 2040”, which is based on 3 pillars: a just transition, a zero-emission energy system and a good air quality. According to the document, in 2040, zero-emission sources will constitute more than half of the installed capacity, with special focus on offshore wind and nuclear power plants. Due to the adopted assumptions, the use of coal for electricity production is expected to drop to 37% in 2030 (being the current level 70%) and 28% in 2040.

22 After months of consultations, the offshore wind law was finally published in February 2021. The law set the regulatory framework for the development of offshore wind energy in the Baltic Sea. The regulation approved a new remuneration scheme for offshore wind, that will be introduced in two phases. In the first one, support will be granted by administrative decision (for a total of 5,9 GW). Then, in a second phase, support will be granted via competitive auctions, with the first auction taking place in 2025. In May 2021 Poland submitted to the European Commission its National Recovery and Resilience Plan. Poland has requested a total of 23,9 b€ in grants and 12,1 b€ in loans. The Polish Plan is structured around five pillars of resilience of the economy, including green energy. In particular, it includes measures improving air quality and the development of renewable energy sources. The EU Commission will now assess the Polish plan within the next months and translate its contents into legally binding acts if all the criteria are met. A new renewable auction was held in June 2021, awarding CfDs to 1,2 GW of solar PV and 0,3 GW of onshore wind. In August 2021, new GC quotas for the year 2022 were announced: 18.5% for green certificates (below 19.5% in 2021) and 0.5% for the so-called “Blue certificates” (that confirm that the energy is produced from agricultural biogas). The President of the Republic signed an Act amending the Renewable Energy Act on 17 September 2021. Key changes include extending the period of auctions for sale of energy from renewables until the end of 2027 (thus, extending CfD maximum delivery date to June 2047) and setting auction volumes for the period 2022-2027 in a single regulation of the Council of Ministers. The law also modifies the period of settling a negative and positive balance (the period is extended from 10 to 15 days) and provides for modified rules for settling positive balances. The Amendment also simplifies the way in which the Spatial Planning and Land Development Act applies to investors. In particular, the Amendment modifies the capacity limit for RES and allows free-standing photovoltaic devices with a capacity of up to 1 MW to be constructed on poor-quality agricultural lands or on rooftops (without capacity threshold), regardless of whether the municipality’s study designates such areas as being potential locations of RES investments. The European Commission approved, under EU State aid rules, these amendments of the Renewable Energy Law. Regulatory frameworks for the activities in Romania A Green Certificate mechanism was introduced in Romania in 2005 to promote renewable energies and to comply with the European renewable targets. According to this scheme, electricity suppliers and industrial consumers are obliged to source a certain amount of GC every year (a fine is applicable if this annual quota is not met). On the other side, renewable generators receive GC by each MWh produced. Law 220/2008 of November, introduced some changes in the initial GC system, improving the framework for renewable generators. In particular, it increased the amount of GC to be received by wind generators (from 1 GC/MWh to 2 GC/MWh until 2015 and 1 GC/MWh from 2016 onwards). The law also guaranteed that the trading value of GC would have a floor of 27€ and a cap of 55€. Law 123/2012 of 19 July 2012 on Electricity and Natural Gas eliminated the provision of bilateral contracts not publicly negotiated as a mean to sale electricity. Thus, the trading of electricity could only be carried out on a centralized market. The Romanian Parliament approved Law of 17 December 2013, introducing several changes to the GC scheme and in particular: • For operating renewable plants: decision to postpone (or “freeze”) part of the granted GC: • wind generators would have 1 GC (out of 2 GC) postponed from trading from 1 July 2013 to 31 March 2017; • solar generators would have 2 GCs (out of 6 GCs) postponed from trading from 1 July 2013 to 31 March 2017; • postponed GC would be gradually recovered until 31 December 2020 (starting on 1 April 2017 for solar PV and 1 January 2018 for wind). • For new renewable plants: decision to reduce the amount of granted GC: • wind facilities would receive 1.5 GC/MWh until 2017 and 0.75 GC/MWh from 2018 onwards; • solar facilities would only receive 3 GC from 1 January 2014 onwards; • these GC could be immediately traded.

23 On 24 March 2014, the President of Romania approved EGO 57/2013 with the following amendments: (i) Reduction of the GC validity from 16 months to 12 months; and (ii) the obligation for ANRE (Energy Regulator) to communicate in each year the GC quota for the following year. Other amendments were introduced in 2015 by Law 122/2015. Among other changes, the law included: (i) supplier’s obligation to purchase GC on a quarterly basis (ii) the inclusion of imported electricity in the GC scheme, and (iii) the removal of the right to receive GC for the electricity sold at negative prices. In March 2017, the government approved a new emergency ordinance (EGO 24/2017) to further amend the renewable law 220/2008. As expected, the GC scheme was extended until 2031 (GC will remain valid until March 2032). The Ordinance also confirmed the removal of the indexation of the GC parameters (GC floor would remain fixed at 29,4€ and GC cap would be fixed at 35€). Regarding wind energy, the ordinance approved the extension of the GC recovery period from 2018 to 2025, while solar PV’s GC postponement was extended until the end of 2024 (the recovery will take place from 2025 to 2030). The State of emergency was declared on 16 March 2020, through presidential Decree 195/2020. The Decree aimed at controlling the spread of COVID-19. Among others, the Decree included restrictions of certain rights (introducing for example compulsory quarantines). It also included the possibility of price controls for certain goods and/or services (for example, of electricity prices). The State of emergency was subsequently extended until May 16th. During the State of emergency period, the government released several economic relief measures such as extension of payment deadlines for local taxes, a tax debt restructuring program, a reduction of the monetary interest rate, among others. ANRE published Order 61/2020 of 31 March 2020 stating that negative prices would be allowed from September 2020 in line with Order 236/2019. Emergency Ordinance 74/2020, amending the Energy Law 123 was approved on 14 May 2020 allowing PPAs signed outside the centralized markets for new renewable projects operating from June 2020. In June 2020, the Romanian Energy Ministry proposed a Memorandum with the basic characteristics of a potential CfD scheme, addressed at low carbon technologies (renewables, CCS and ESS). On 9 December 2020 Order no. 213/2020, approving the single imbalance price was finally published on the Official Gazette (in force since February 2021). The methodology introduces a single imbalance price except for those cases when the system is almost balanced when a double price is calculated. The implementation of the new imbalance price was coincident with the 15-minute settlement introduction, in line with EU regulation. Romania submitted its Recovery and Resilience Plan in May 2021. In September 2021, the European Commission endorsed the Plan, and will disburse €14.2 billion in grants and €14.9 billion in loans under the Recovery and Resilience Facility (RRF). The EC’s assessment finds that the plan devotes 41% of the total allocation on measures that support the green transition. It includes measures to phase out coal and lignite power production by 2032. On 29 October 2021, the Romanian Parliament Endorsed Law 259/2021, which approved and put into action Government Emergency Ordinance 118/2021. The Ordinance immediately came into force on 1 November. It contains measures to alleviate the burden of the current rise in energy price such as direct financial support and a reduction of taxes paid by end- consumers. For example, the Law added a price cap mechanism until 31 March 2022 which applies to household customers and other selected customers (hospitals, NGOs, etc) to cap the final price for electricity to RON 1/kWh and natural gas at RON 0,37/kWh. The differences between the average prices and the capped prices will be reimbursed from the state budget, through a separate budgetary expense. Also, the Law includes a windfall tax for electricity producers: until 31 March 2022, the additional income obtained by electricity producers and resulting from the difference between the average monthly selling price of electricity and the price of RON 450/MWh will be taxed at 80%. However, this tax only applies to CO2-free generation facilities and will not apply to producers of electricity based on fossil fuels, including cogeneration.

24 Regulatory frameworks for the activities in Italy On 6 July 2012, the Government approved a new renewable framework by means of the Decree on Renewables (DM FER) introducing a feed-in-tariff support scheme. The key aspects of this regulation provided by the DM FER were the following: (i) wind farms over 5 MW would be remunerated under a feed-in tariff scheme defined by tenders; (ii) capacity to be tendered would be determined in line with the agreed technologies’ capacity paths; (iii) the reference tariff for 2013 was 127 €/MWh for onshore wind and tender participants would bid offering discounts on this reference tariff (in %); (iv) The reference tariff would decrease 2% per year and (v) tariffs would be granted for 20 years. The new system replaced the previous one based on GCs. Under the previous system, producers obtained their revenues from the sale of the electricity in the electricity market and from the sale of GCs. Wind farms built until December 2012 continued to operate under the previous system until 2015 (from 2015 onwards, the GC system was transformed into a feed- in-premium in which, for the remaining duration of the original incentive period, the value was set at 78% of the difference between €180 and the electricity price). Spalma Incentivi Decree, published in November 2014, stipulated that wind farms under the GCs scheme could voluntarily adhere to an extension of the support period of 7 years in exchange of a permanent reduction of the premium/GCs received, being the coefficient of reduction calculated individually for each wind farm depending on their remaining regulatory life. As the option was voluntary, wind farms that refused to accept this change remained under previous GCs scheme. On 10 November 2017, The Strategia Energetica Nazionale (National Energy Strategy), known by the acronym SEN, was presented after several months of public consultation. One of the main features of the SEN is that it included the complete phase-out of coal power generation by 2025, five years ahead of schedule. The SEN also highlighted the role of renewables and targeted that renewable energy would increase to 28% of energy consumption in 2030. According to the SEN, the RES-E (renewables in electricity production) would increase up to 55% in 2030. The Italian Ministry of Economic Development signed in July 2019 a decree implementing a new set of auctions to be held between 2019 and 2021, seeking to allocate around 5,5 GW of wind and solar PV. On 9 March 2020, a national quarantine, restricting the movement of the population was approved, in response to the growing pandemic COVID-19 . A gradual ease of restrictions started on May 4. Regarding the electricity sector, several measures were introduced, including a suspension of all bureaucratic terms for renewables since March 13, a relief of several reporting obligations, the implementation of transitory measures between 10 March and 30 June 2020 to limit the burden of imbalance costs and an extension of all permits expired during the emergency state of 90 days, among others. On 27 April 2020, Italy presented its National Recovery and Resilience Plan (NRRP) which will support the implementation of the crucial investment and reform measures following the COVID-19 pandemic. The European Commission adopted a positive assessment of the Plan in June 2021. The Plan will provide € 68,9 b in grants and € 122,6 b in loans. The share of climate projects is 37% of the total and, to achieve a progressive decarbonization, interventions are planned to significantly increase the use of renewables. The Italian government released the so-called “Decreto Semplificazione” in May 2021 and was officially converted into law in July. The Decree seeks to simplify administrative procedures (in particular, regarding public procurement and concessions). It defines the regulatory framework aimed at simplifying and facilitating implementation of the goals and objectives established in its “National Recovery and Resilience Plan” and in its “National Energy and Climate Plan”. It also rationalizes the role of the Minister of Culture, whose opinion won´t be binding in locations outside protected areas, and it provides a series of measures aimed at streamlining the obtention of the VIA (environmental authorization). Regulatory frameworks for the activities in Greece Renewables projects in Greece are supported by 20-year feed-in premiums (Contracts-for-Difference) awarded through auctions. The first full-scale renewables auction was held on 2 July 2018, with 277 MW of capacity awarded. On 15 April 2019, the first technology-neutral renewable auction (for onshore wind and solar PV) was held.

25 In December 2019, Law 4643/2019 on the liberalization of the Greek energy market, the modernization of the Public Power Corporation (PPC), the privatization of the Public Natural Gas Company (DEPA) and the support of the renewable energy sector, was passed. The law introduced significant changes to the electricity market. Regarding renewables, the law set out the possibility to renewable plants with a capacity exceeding 250 MW (or aggregated capacity at the same connection point exceeding 250 MW) to directly agree with the Ministry of Environment and Energy a selling price (provided the EU Commission gives the green light). The law also stated that renewable generators under the fixed-tariff scheme had to be balancing responsible (although it is only applicable to renewable projects in operation after July 2019). Greece, as all EU Members, submitted its National Energy and Climate Plan (NECP) in December 2019. It includes ambitious renewable targets (35% RES target by 2030) and the complete phase-out of coal facilities by 2028. The government announced a total lockdown in the country starting on 23 March 2020, in an attempt to reduce new coronavirus cases. However, measures progressively started to ease on May 4. The Greek government approved extensions of power facilities deadlines due to the COVID-19 crisis (legislative Act OG A’75/30.3.2030). The Act stated that installation licenses and binding grid connection offers which were about to expire would be extended 4 or 6 months (depending on expiring date). Also, deadlines for connecting projects which had been selected through auctions, would also be extended 4 or 6 months (also depending on the deadline). The European Commission favourably reviewed Greece’s electricity market in a 7th post-bailout report on the country’s economy. It issued however a warning on the RES special account deficit, although it attributed the deficit to the pandemic. In November 2020 Greece launched into operation the “EU electricity Target Model”, which is the basis for the development of the Single market in Europe. It includes a day-ahead, and intra-day and balancing market (the future market was already operating). Thus, the EU harmonization of the Greek electricity market is now effective. In addition, the Greek day-ahead market was coupled with the Italian one in December 2020 and with the Bulgarian one in May 2021. On 9 December 2020, Law 4759/2020 introduced several measures to reduce the RES Account Deficit, which is the Fund that supports renewable projects. These measures were (i) a "one-time extraordinary contribution" of 6% on the turnover of 2020 for old renewable projects (projects that started operations before 31 December 2015) (ii) A “one-time emergency charge” on suppliers equal to 2€/MWh during 2021, (iii) an increased percentage of emissions allowances sales at 78% (vs. 65% previously), (iv) a green tax on diesel consumption of 0,03€/liter and (v) Re-orientation of revenues from the Special Fee for issuance of Certificate of Electricity Producer from RES currently paid to regulator. On 23 August 2021, the government announced that the RES special account would be split into two, to protect producers’ revenues. As a result, a new RES special account for projects operating since January 2021 will be created. This new account will be supported by the “Dynamic Renewable Charge”, that will be paid by electricity suppliers and then passed on to their customers. The European Commission adopted a positive assessment of Greece’s Recovery and Resilience Plan in June 2021. Greece had requested 17,8 b€ in grants and 12,7 b€ in loans under the Plan. The Plan devotes 38% of Greece’s total allocation to measures that support climate objectives, including upgrading the electricity network and strengthening the support scheme for producers of renewable energy sources, among others. The European Commission approved in November 2021, under EU State aid rules, a €2,27 billion Greek scheme for the production of electricity from renewable sources and high efficiency combined heat and power (CHP). This approval came after Greece notified the Commission of its intention to approve a new scheme to support electricity for renewable sources. For both onshore wind and solar installations, support will be awarded through a joint competitive tendering procedure (although separate auctions are also envisaged in case targets are not met). Winning projects will be awarded two-way contract-for-difference contracts. The scheme is expected to start in March 2022 and will be opened until 2025. Regulatory frameworks for the activities in UK A Energy Bill, that received royal assent on 18 December 2013, became law making the Contract for Difference (CfD) regime official in the UK. The UK Government also released the Electricity Market Reform (EMR) Delivery Plan on 19 December 2013. In the new system, CfDs have a 15-year length for renewables (except for biomass conversions) and are granted through tenders. The “established technologies”, which include onshore wind and solar PV, compete for budgets in different allocation rounds. Less mature technologies, such as offshore wind, compete in a separate “pot”.

26 CfDs are based on a strike price for each technology. When the pool price falls below the strike price, generators receive a top-up payment. However, if it increases above the strike price, generators have to pay this difference back. In June 2019, a new legally binding net-zero emissions target by 2050 was passed into law, amending Great Britain’s existing 2008 Climate Change Act. The target will require the UK to bring all greenhouse gas emissions to net zero by 2050, compared with the previous target of “at least” 80% reduction from 1990 levels. In order to achieve the target, several measures are proposed, including the support to new renewables facilities through CfD awarded through tenders. The UK officially left the EU on 31 January 2020, following the signature of the “Withdrawal Agreement” with the EU. The UK officially completed its economic separation from the European Union on 31 December 2020, after the end of the transition period in which the UK kept the same rules as the remaining 27 countries while it tried to negotiate a post-Brexit trade deal with the EU. After months of intensive negotiations, the UK and the EU announced a free trade deal on December 24. The agreement provides for zero tariffs and zero quotas on all goods that comply with the appropriate rules of origin. Regarding the energy field, the agreement provides a new model for trading and interconnectivity although the final day- ahead power market coupling rules between the EU and the UK are not expected to be in place until early 2022. In the meantime, interim arrangements will apply. The EU commission has also announced that there will be “ambitious” cooperation over renewable energy and climate action. The Government announced on 30 June 2021 that the coal phase-out would be brought forward by a year, so that from 1st October 2024, no coal facilities could be producing electricity in the country. Regulatory frameworks for the activities in Brazil The Electricity Sector in Brazil is regulated by Federal Law nr 8,987 of 13 February 1995, which generally rules the concession and permission regime of public services; Law nr 9,074 of 7 July 1995, which rules the grant and extension of public services concession or permission contracts; Federal Law nr 10,438 of 26 April 2002, which governs the increase in Emergency Electric Power Supply and creates the 3,300 MW Program of Incentives for Alternative Electricity Sources (PROINFA); Federal Law nr 10,762 of 11 November 2003 and Law nr 10,848 of 15 March 2004, concerning commercial rules for the trade of Electric Power; and, subsequent amendments to the legislation. The institutions that ensure a proper development and functioning of Electricity Sector in Brazil are: a) the Energy Research Company (“EPE”), responsible for long term planning in the electric sector; b) the Electric Sector Monitoring Committee (“CMSE”), responsible to continuously assess the security of electricity supply, c) the Chamber for the Commercialization of Electric Energy (“CCEE”), an institution dealing with commercialization of electricity in Interconnected System, d) National Electricity Regulatory Agency (“ANEEL”), responsible for regulating and inspecting the electricity sector, as well as establishing the tariff for the consuming public and promote energy auctions together with MME, EPE and CCEE; f) Ministry of Mines and Energy (MME) responsible for the creation and implementation of policies, acting as the Conceding Authority; g) the National Electric System Operator (ONS), which is responsible for the coordination of real time operation and supervision of the energy generation and transmission grid. Federal Law nº 9.427 of 26 December 1996 establishes the possibility of Renewable Energy producers to sell directly to the final consumer(s) (aggregated demand > 500kW), at any voltage level. As part of the regulatory incentive framework, Renewable Energy producers (small hydro, biomass, wind and solar) are granted a reduction of, at least, 50% in the Distribution and Transmission System Use Tariff (TUSD and TUST) provided that pre-defined rules are met. The Law nº 13.203 of 8 December 2015 extended the subsidy for larger solar, wind and biomass plants. Renewable energy production from plants which receive the above-mentioned subsidy is defined as “incentivized energy”, while the electricity production from no-incentivized sources is defined as “conventional energy”. Special Consumers, the ones which consumption demand is above 500 kW and under 3 MW, are allowed to purchase electricity only from incentivized sources. Since July 2019, the minimum demand is gradually reducing, so that, as of January 2023 those Special Consumers will be allowed to purchase incentivized or conventional energy by their own free choice. The Decree nr 5,025 of 30 March 2004, regulates the Federal Law nr 10,438 and states the "Alternative Energy Sources" economical and legal framework. PROINFA participants have granted a PPA with ELETROBRÁS, and are subject to the regulator (ANEEL) authority.

27 The Decree nº 5,163 of 30 July 2004 regulates the Federal Law nº 10,848, establishing two trading environments for sale and purchase energy: the Regulated Contracting Environment ("ACR"), with the participation of energy producers, traders and distribution agents, and the Free Contracting Environment ("ACL"), in which Producers, Traders, Importers & Exporters and Free Consumers participate. In the ACR, distribution companies are allowed to buy “distributed energy” (local generation), by observing a limit of 10% of the total demand of each distribution agent. In terms of tariff moderation for Captive Consumers (consumption demand < 500 kW), Brazilian Energy Sector provides for the purchase of electricity by distributors through regulated auctions, subject to the lowest cost criteria, aiming to reduce the cost of acquisition of electric energy that is re-passed to captive customer tariffs. These auctions seek to provide the lowest possible price of electricity to be re-passed to the consuming public. During the fourth quarter of 2019, Ministry of Mines and Energy set strategic lines of activities to be developed towards the modernization of the Brazilian electricity sector. One of the first measures taken relates to the PLD (short-term price), currently calculated on a weekly basis. Hourly PLD has been calculated on a test basis (“shadow operation”) since 2018, aiming to become economically effective as of 1 January 2021. It aims to improve efficiency between electricity production and consumption based on an efficient management of price formation and real-time operation. The government has taken measures in response to Covid-19 impacts in main areas as the energy sector, by means of Decrees, Provisional Measures and changes in existing regulation. By the end of March, to ensure uninterrupted supply of energy to consumers, Decree nº 10.282/2020 reinforced electricity generation, transmission and distribution as essential activities. This included the equipment supply needed for operation and maintenance. By the end of April 2020, the range was extended to include construction works. Through Normative Resolution nº 878/2020, the Brazilian Electricity Regulatory Agency (ANEEL) suspended energy supply cuts regardless of the consumers’ capacity of payment for 90 days as of 23 March 2020. In addition, the low-income population registered for lower tariffs (the Social Tariff program) will not undergo periodic checks over the next three months, and therefore will not be subject to the loss of the benefit. Measures have also been taken to prevent distributors (DSO)´ s financial losses due to a potential high default rate, and consequently affect their stakeholders. In order to add liquidity, ANEEL authorized the transfer of resources from sector funds to distributors and consumers, totalizing R$2,43 billion so far. Provisional Measure nº 950/2020 propose temporary use of resources from National Treasury, other sector funds and bank loans for DSO to be paid for all consumers, as well as new measures to subsidize low-income consumers, providing a 90-day exemption from paying the electricity bills. ANEEL also released a first assessment of Covid-19 impacts to the energy sector, through which reinforced the need of maintenance of the economic and financial balance of contracts, preservation of contracts and the participation of all segments (generators, TSO, DSO, consumers) towards the best solutions. On 23 June 2020, ANEEL enacted the Normative Resolution nº 885/2020 establishing the loan conditions to support the DSO in reducing the impacts of Covid, without resources from National treasury. A total of 19 banks led by BNDES will inject up to R$ 16,25 billion to “Conta Covid” and will be paid by consumers in 60 months. To benefit from the resources, the DSOs may declare they have the right to question any of the conditions in court, preserve the PPAs and limit the distribution of dividends in the case of a default. In March 2020, the Chamber of Electric Energy Commercialization (CCEE) and the National Power System Operator (ONS) estimated a 0,9% decrease in total consumption for 2020 compared with last year, based on a “close to zero” variation of GDP due to the impacts of COVID-19 on economic activity. On May 1st, Ministry of Economy made a significant downward revision of GDP forecast, from 0 to 5% decline for the worst-case scenario of Brazilian economy. By the end of June 2020, Central Bank of Brazil updated the GDP projection for 2020 reducing it from -5% to -6,5%. Under this circumstance, demand for electricity is expected to further diminish. Due to the uncertainties on future demand for electricity, the regulated auctions scheduled for 2020 are postponed. According to CCEE and ONS, it´s also an opportunity to revisit guidelines in order to introduce cheaper and more efficient power plants. One strategy proposed is to restrict the participation in regulated auctions to thermal plants which unit variable cost (CVU) are less than R$300/MWh, allowing for lower spot market prices (PLD).

28 The National Development Bank (BNDES), main financing institution announced several measures to support sectors of oil and gas, airports, ports, energy, transportation, urban mobility, health, industry and commerce and services. Other measures regarding public health, tax and employment rules were announced in response to COVID-19. On 1 September 2020, the Brazilian government issued the Provisional Measure (“MP”) nº 988/2020 with the main purpose of reducing the electricity bills for consumers. The Brazilian Congress has a 120-day period to approve the MP and convert it into Law, otherwise it will become ineffective. For renewable generators, the main impact is due to the cut in subsidies in the rates of the transmission and distribution system tariff within a 12-month deadline as of the MP enactment. Power plants authorized during this period and which requires an increase of power capacity will still be granted with the benefit and shall start commercial operation within a 48-month period after the published authorization. All those power plants already granted by the benefit before the MP are not affected. The end of subsidies must be compensated by the development of mechanisms based on the environmental benefits due to renewable energy sources related to low-carbon emission. On 8 September 2020, the Law 14.052/2020 was finally enacted and establishes the conditions for hydro generators to renegotiate debts due to the hydrological risks, which caused a low Generation Scaling Factor (“GSF”) during a prolonged drought, intensified by measures taken by the government to secure the national grid operation. The debt has been impacting the short-term market settlement, which currently involves more than R$ 9 billion. ANEEL has a 90-day period to propose a regulation, which must be, at first, submitted to a public hearing. On 8 December 2020, MME announced a regulated auction schedule for the next three years (2021- 2023). Three kinds of auctions are expected aiming at contracting energy from new and existing power plants and the expansion of the transmission system. New energy auctions A-3/A-4 and A-5/A-6 for 2021 are scheduled to take place on June and September, respectively. As of 1 January 2021, the short-term price (PLD) comes into effect in an hourly basis, after two years of shadow operation. Although, since the last year, the ONS has been operating based on the new dispatch model results, just now the hourly PLD became effective for the purpose of commercialization. On 23 March 2021, ANEEL published the rules to compensate the lack of wind generation due to grid curtailments caused by systemic electrical limitations. The regulation for solar plants is expected for 2022. On 6 December 2021, ANEEL published the normative resolution for the implementation of hybrid power plants, allowing potential synergies in terms of grid costs and energy production. In the same month, MME announced the regulated auctions scheduled for the next three years by means of Portaria MME nº 32/2021. A A-4 new energy auction will take place in 27 May 2022 starting supply as of 1 January 2026. On 7 January 2022, Law 14.300/2022 was enacted establishing the regulatory framework for consumers to generate energy by means of micro (up to 75 kW) and micro (between 75kW and 5MW) distributed generation. Regulatory frameworks for the activities in Vietnam The Vietnamese Ministry of Industry and Trade (MOIT) introduced a wind feed-in tariff (FIT) in 2011 to encourage investment in the sector. Projects were granted a 20-year power purchase agreement (PPA) with EVN, the state utility. However, this first remuneration framework failed to spur wind deployment as investors considered that revenues under this scheme didn´t provide appropriate returns. In September 2019, the government released a new FIT scheme of around 85€/MWh for onshore projects and 98€/MWh for offshore wind projects, provided that projects were commissioned before 1 November 2021. Government officials are now evaluating the introduction of competitive auctions, but no regulation has been adopted yet. Regarding solar PV, a first solar FIT was released in April 2017 but the scheme expired on 30 June 2019. A second solar FiT (the so-called FIT2) scheme was then announced in April 2020. Under the FIT2, solar PV projects were eligible for a 20-year PPA with EVN, and different prices were set depending on the size/type of solar facility. Solar projects were required to receive investment approval by 23 November 2019 and start operations before 31 December 2020 to be eligible for the FIT2. The government is now planning to implement a pilot auction program for solar power and a draft decision of the prime minister guiding the future auction system was released in February 2021. However, the scheme has still not been officially approved.

29 Vietnam Electricity Law (Law No. 28/2004/QH11 on Electricity, as amended by Law No. 24/2012/QH13) requires “national power development master plans” to be established for a 10-year period. The master plan serves as a basis for future power development in the country, applicable to all investment in the sector. The Government set the plan for the period 2011-2020 in the “Power Development Plant VII” in 2011. However, in 2016, the Plan was adjusted in order to increase renewable targets and to provide a vision to 2030. A new master plan is now due and MOIT released a first draft of a new Plan for the period 2021-2030, with a vision to 2045. 02. Accounting policies A) Basis of preparation The accompanying consolidated annual accounts (financial statements hereinafter) reflect the results of EDP Renováveis, S.A. and its subsidiaries (EDPR Group or Group) and the Group's interest in its joint ventures and associated companies. The consolidated financial statements for 2021 have been prepared to present fairly the consolidated equity and consolidated financial position of EDP Renováveis, S.A. and subsidiaries at 31 December 2021, the consolidated results of operations, consolidated statement of comprehensive income, consolidated cash flows and changes in consolidated equity for the year then ended. In accordance with Regulation (EC) no. 1606/2002 of 19 July 2002, of the European Council and Parliament, the Group's consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS), as endorsed by the European Union (EU). IFRS comprise accounting standards issued by the International Accounting Standards Board (IASB) and its predecessor body as well as interpretations issued by the International Financial Reporting Interpretations Committee (IFRIC) and their predecessor bodies. The Board of Directors approved these consolidated annual accounts on 15 February 2022. The annual accounts are presented in thousand Euros, rounded to the nearest thousand. The financial statements have been prepared on a going concern basis under the historical cost convention, modified by the application of fair value accounting to derivative financial instruments, financial assets at fair value through profit or loss, financial assets at fair value through other comprehensive income, except those for which a reliable measure of fair value is not available. Assets and liabilities that are hedged under hedge accounting are stated at fair value in respect of the hedged risk. Non-current assets and disposal groups held for sale are stated at the lower of carrying amount and fair value less costs to sell. Liabilities for defined benefit plans are recognised at the present value of the obligation net of plan assets fair value. In accordance with IFRS 3 - Business Combinations, if the initial purchase price allocation of assets, liabilities and contingent liabilities acquired is identified as provisional, in the subsequent 12 months after the business combination transaction, the legal acquirer should make the final allocation of the purchase price related to the fair value of the assets, liabilities and contingent liabilities acquired. These adjustments with impact on the amount of goodwill determined and booked in previous periods, originate a restatement of the comparative information, which is reflected on the Statement of financial position, with effect from the date of the business combination transaction. The preparation of financial statements in accordance with IFRS requires the Board of Directors to make judgments, estimates and assumptions that affect the application of the accounting policies and of the reported amounts of assets, liabilities, income and expenses. The estimates and related assumptions are based on historical experience and other factors considered reasonable in accordance with the circumstances, the results of which form the basis for making judgments regarding the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. The areas involving the highest degree of judgment or complexity, or for which the assumptions and estimates are considered significant, are disclosed in note 4 - Critical accounting estimates and judgments in applying accounting policies. Accounting policies have been applied consistently by all Group companies and in all periods presented in the consolidated financial statements. The new standards and interpretations recently issued but not yet effective and that the Group has not yet applied on its consolidated financial statements, are detailed in note 3.

30 Change on Investment Tax Credits (ITC) recognition - Institutional partnerships in North America Based on EDPR expanded knowledge of the US Internal Revenue Service (IRS) recapture provisions and in order to be more aligned with industry standard due to the increase on solar investment, on 1 January 2021 EDPR has changed the recognition pattern of the Investment Tax Credits (ITC) from a pro-rata basis over the useful life of the underlying solar projects to the 5- year recapture period. Income recognition would commence at the later of the placed in-service date or the effective ITC payment date in the tax equity partnership tracking model. This will apply to both the deferred revenue in the consolidated solar tax equity partnerships and partnerships for which EDPR has an Investment in Associates. This change in the accounting policy for the income recognition of the ITC does not have significant impacts in the financial statements as of 31 December 2021 and 31 December 2020. B) Basis of consolidation The accompanying consolidated financial statements reflect the assets, liabilities and results of EDP Renováveis, S.A. and its subsidiaries and the equity and results attributable to the Group, through the investments in associates and jointly controlled entities. EDPR Group applies prospectively as from 1 January 2010, IFRS 3 (revised) for the accounting of business combinations. Controlled entities Investments in subsidiaries where the Group has control are fully consolidated from the date the Group assumes control over their financial and operating activities until the moment that control ceases to exist. An investor controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee, independently of the percentage of voting rights held. Accumulated losses are attributed to non-controlling interests in the corresponding proportions held, implying that the Group can recognise negative non-controlling interests. On a step acquisition process resulting in the acquisition of control the revaluation of any interest previously held is booked against the income statement. On a partial disposal resulting in loss of control over a subsidiary, any participation retained is revalued at market value on the sale date and the gain or loss resulting from this revaluation is booked against the income statement, as well as any gain or loss resulting from the disposal. Jointly controlled entities The Group classifies an arrangement as a joint arrangement when the jointly control is contractually established. Joint control exists only when decisions about the relevant activities require the unanimous consent of the parties that collectively control the arrangement. After determining the existence of joint control, the Group classifies joint arrangements into two types - joint operations or joint ventures. A joint operation is a joint arrangement whereby the parties that have joint control of the arrangement (i.e. joint operators) have rights to the assets, and obligations for the liabilities, relating to the arrangement, so the assets and liabilities (and related revenues and expenses) in relation to its interest in the arrangement are recognised and measured in accordance with relevant IFRSs applicable. A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement, so this investment shall be included in the consolidated financial statements under the equity method. The consolidated financial statements include the Group's attributable share of total reserves and profits or losses of joint ventures, included in the consolidated financial statements under the equity method. When the Group’s share of losses exceeds its interest in a jointly controlled entity, the Group's carrying amount is reduced to zero and recognition of further losses is discontinued, except to the extent that the Group has a legal or contractual obligation to cover such losses on behalf of that entity.

31 Entities over which the Group has significant influence Investments in associates are included in the consolidated financial statements under the equity method from the date the Group acquires significant influence to the date it ceases. Associates are entities over which the Group has significant influence, but not control, over its financial and operating policies. The existence of significant influence by the Group is usually evidenced by one or more of the following: • Representation on the Executive Board of Directors or equivalent governing body of the investee • Participation in policy-making processes, including participation in decisions about dividends and other distributions • Existence of material transactions between the Group and the investee • Interchange of managerial personnel • Provision of essential technical information. The consolidated financial statements include the Group’s attributable share of total reserves and profits or losses of associates, included in the consolidated financial statements under the equity method. When the Group’s share of losses exceeds its interest in an associate, the Group’s carrying amount is reduced to zero and recognition of further losses is discontinued, except to the extent that the Group has a legal or contractual obligation to cover such losses on behalf of the associate. Accounting for investments in subsidiaries and associates in the company’s financial statements Investments in subsidiaries and associates not classified as held for sale or not included in a disposal group which is classified as held for sale are accounted for at cost in the company’s financial statements, and are subject to periodic impairment tests, whenever indication exists that certain financial investment may be impaired. Business combination From 1 January 2010 the Group has applied IFRS 3 Business Combinations (2008) in accounting for business combinations. Business combinations are accounted for using the acquisition method as at the acquisition date, which is the date on which control is transferred to the Group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. In assessing control, the Group takes into consideration potential voting rights that currently are exercisable. Acquisitions on or after 1 January 2010 For acquisitions on or after 1 January 2010, the Group measures goodwill at the acquisition date as: • The fair value of the consideration transferred; plus • The recognised amount of any non-controlling interests in the acquiree; plus • If the business combination is achieved in stages, the fair value of the existing equity interest in the acquiree; less • The net recognised amount (generally fair value) of the identifiable assets acquired and liabilities assumed. When the excess is negative, a bargain purchase gain is recognised immediately in profit or loss. The consideration transferred does not include amounts related to the settlement of pre-existing relationships. Such amounts are generally recognised in profit or loss. Costs related to the acquisition, other than those associated with the issue of debt or equity securities, that the Group incurs in connection with a business combination are expensed as incurred. Any contingent consideration payable is recognised at fair value at the acquisition date. If the contingent consideration is classified as equity, it is not remeasured and settlement is accounted for within equity. Otherwise, subsequent changes to the fair value of the contingent consideration are recognised in profit or loss.

32 After that period, adjustments to initial measurement are only made to correct an error. Acquisitions between 1 January 2004 and 1 January 2010 For acquisitions between 1 January 2004 and 1 January 2010, goodwill represents the excess of the cost of the acquisition over the Group’s interest in the recognised amount (generally fair value) of the identifiable assets, liabilities and contingent liabilities of the acquire. When the excess was negative, a bargain purchase gain was recognised immediately in profit or loss. Transaction costs, other than those associated with the issue of debt or equity securities, that the Group incurred in connection with business combinations were capitalised as part of the cost of the acquisition. Purchases of non-controlling interests and dilution In acquisitions (dilutions not resulting in a loss of control of non-controlling interests), the difference between the fair value of the non-controlling interests acquired and the consideration paid, is accounted against reserves. The acquisitions of non- controlling interests through written put options related with investments in subsidiaries held by non-controlling interests, are recorded as a liability for the fair value of the amount payable, against non-controlling interests. The fair value of the liability is determined based on the contractual price which may be fixed or variable. In case of a variable price, the changes in the liability are recognised against the income statement as well as the effect of the financial discount of the liability (unwinding). Business combinations achieved in stages In a business combination achieved in stages, on the date of obtaining control, the excess of the aggregate of (i) the consideration transferred, (ii) the amount of any non-controlling interest recognised in the acquiree and (iii) the fair value of the previously held equity interest in the acquired business; over the net of amounts of the identifiable assets acquired and liabilities assumed, is recognised as goodwill. If applicable, the negative difference, after evaluating the consideration transferred, of the amount of any non-controlling interest recognised in the acquiree and the fair value of the previously held equity interest in the acquired business; over the net value of the identifiable assets acquired and liabilities assumed, is recognised in the income statement. The Group recognises the difference between the fair value of the previously held equity interest in the acquired business and the carrying value in consolidated results in Other income. Additionally, the Group reclassifies the deferred amounts in other comprehensive income relating to the previously held equity interest to the income statement or consolidated reserves, according to their nature. Acquisition of assets out of the scope of IFRS 3 In order to assess whether an acquisition of an asset or a group of assets is a business, EDPR identifies the elements in the acquired entity (inputs, processes and outputs), assesses the capability to create outputs (it should have at a minimum, an input and a substantive process to be assessed as a business) and, finally, assesses the capability of market participants to continuing to create outputs (conducting the activities as a business). In the case of an integrated set of activities that is in an early-stage of development and has not started to generate outputs, EDPR considers other factors to determine whether it constitutes a business, such as if: (i) planned principal activities have begun; (ii) employees, intellectual property, and other inputs and processes are present; (iii) a plan to produce outputs is being pursued; and/or (iv) access to customers who will purchase the outputs can be obtained. Generally, an early-stage entity that has employees capable of developing an output will be considered a business. Therefore, in application of the above, EDPR concludes that IFRS 3 is not applicable when there are no outputs at the acquisition date due to an early-stage of development, and the acquired process(es) cannot be considered substantive. Thus, the acquisition of an asset or a group of assets that does not fulfill the conditions to be considered a business is classified as an acquisition of a company out of scope of IFRS 3.

33 Investments in foreign operations The financial statements of the foreign subsidiaries and associates of the Group are prepared using their functional currency, defined as the currency of the primary economic environment in which they operate. In the consolidation process, the assets and liabilities of foreign subsidiaries are translated into Euros at the official exchange rate at the balance sheet date. Regarding the investments in foreign operations that are consolidated using the full consolidation method and equity method, the exchange differences between the amount of equity expressed in Euros at the beginning of the period and the amount translated at the official exchange rates at the end of the period, on a consolidated basis, are booked against reserves. Foreign currency goodwill arising on the acquisition of these investments is remeasured at the official exchange rate at the balance sheet date directly against reserves. The income and expenses of foreign subsidiaries are translated into Euros at the approximate exchange rates at the dates of the transactions. Exchange differences from the translation into Euros of the net profit for the period, arising from the differences between the rates used in the income statement and those prevailing at the balance sheet date are recognised in reserves. On disposal of a foreign subsidiary, the related exchange differences previously recognised in reserves, are accounted for in the income statement. Balances and transactions eliminated on consolidation Inter-company balances and transactions, including any unrealised gains and losses on transactions between group companies, are eliminated in preparing the consolidated financial statements. Unrealised gains and losses arising from transactions with associates and jointly controlled entities are eliminated to the extent of the Group's interest in those entities. Common control transactions The accounting for transactions among entities under common control is excluded from IFRS 3. Consequently, in the absence of specific guidance, within IFRSs, the EDP Renováveis Group has developed an accounting policy for such transactions, as considered appropriate. According to the Group's policy, business combinations among entities under common control are accounted for in the consolidated financial statements using the EDP consolidated book values of the acquired company (subgroup). The difference between the carrying amount of the net assets received and the consideration paid, is recognised in equity. Put options related to non-controlling interests EDP Renováveis Group records written put options at the date of acquisition of a business combination or at a subsequent date as an advance acquisition of these interests, recording a financial liability for the present value of the best estimate of the amount payable, irrespective of the estimated probability that the options will be exercised. The difference between this amount and the amount corresponding to the percentage of the interests held in the identifiable net assets acquired is recorded as goodwill. Until 31 December 2009, in years subsequent to initial recognition, the changes in the liability due to the effect of the financial discount are recognised as a financial expense in the consolidated income statement, and the remaining changes are recognised as an adjustment to the cost of the business combination. Where applicable, dividends paid to minority shareholders up to the date the options are exercised are also recorded as adjustments to the cost of the business combination. In the event that the options are not exercised, the transaction would be recorded as a sale of interests to minority shareholders. As from January 2010, the Group applies IAS 27 (2008) to new put options related to non-controlling interests and, therefore, subsequent changes in the carrying amount of the put liability are recognised in profit or loss.

34 Disposal of subsidiaries When the Group ceases to have control, any retained interest in the entity is re-measured to its fair value at the date when control is lost, with the change in carrying amount of the investment recognised in profit or loss. Fair value is the initial carrying amount for the purposes of the subsequent recording of the interest retained in the associate, joint venture or financial asset. In addition to that, any amount previously recorded in other comprehensive income in relation to that entity is recorded as if the Group had directly sold all the related assets and liabilities. This may mean that amounts previously recognised in other comprehensive income are reclassified to profit or loss. If the ownership of a holding in an associate is reduced but significant influence is retained, only the proportional part of the amounts previously recognised in other comprehensive income will be reclassified to the income statement. C) Foreign currency transactions Foreign currency transactions are translated at the exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currency are translated into Euros at the exchange rates at the balance sheet date. These exchange differences arising on translation are recognised in the income statement as financial results. Foreign currency non-monetary assets and liabilities accounted for at historical cost are translated using the exchange rates at the dates of the transactions. Foreign currency non-monetary assets and liabilities stated at fair value are translated into Euros at the exchange rates at the dates the fair value was determined. D) Derivative financial instruments and hedge accounting Derivative financial instruments are recognised on the trade date at fair value. Subsequently, the fair value of derivative financial instruments is re-measured on a regular basis, being the gains or losses on re-measurement recognised directly in the income statement, except for derivatives designated as hedging instruments. The recognition of the resulting gains or losses on re-measurement of the derivatives designated as hedging instruments depends on the nature of the risk being hedged and of the hedge model used. The fair value of derivative financial instruments corresponds to their market value, if available, or to quotes indicated by external entities through the use of valuation techniques, which are compared in each date of report to fair values available in common financial information platforms. Hedge accounting The Group uses financial instruments to hedge interest rate risk, exchange rate risk and price risk resulting from its operational and financing activities. Derivatives not qualified for hedge accounting under IFRS 9 are accounted for as trading instruments. Hedging derivatives are recorded at fair value, being the gains and losses recognised in accordance with the hedge accounting model applied by the Group. Hedge relationship exists when: • The hedging relationship consists only hedging instruments and hedged items that are eligible as per determined in IFRS 9; • At the inception of the hedge there is formal documentation of the hedging relationship and the Group’s risk management objective and strategy for the hedge; • There is an economic relationship between the hedged item and the hedging instrument; • The effect of credit risk does not dominate the value changes that result from that economic relationship; • The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the entity actually hedges and the quantity of the hedging instrument that the entity actually uses to hedge that quantity of hedged item.

35 Fair value hedge Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recorded in the income statement, together with any changes in the fair value of the hedged assets and liabilities or group of hedged assets and liabilities that are attributable to the hedged risk. When the hedging relationship ceases to comply with the requirements for hedge accounting, the accumulated gains or losses concerning the fair value of the risk being hedged are amortised over the residual period to maturity of the hedged item. Cash flow hedge Changes in the fair value of derivatives qualified as cash flow hedges are recognised in reserves. The cumulative gains or losses recognised in reserves are reclassified to the income statement when the hedged item affects the income statement. When a hedging relation of a future transaction is discontinued, the changes in the fair value of derivative recognised in reserves remain recognised in reserves until the future hedged transaction occurs. When the future transaction is no longer expected to occur, the cumulative gains or losses recognized in reserves are recorded immediately in the income statement. Net investment hedge The net investment hedge model is applied on a consolidated basis to investments in subsidiaries in foreign currencies. This model allows that the exchange differences recognised in the currency translation reserve to be offset by the foreign exchange differences in foreign currency loans or currency derivatives contracted, recognised in Currency translation reserve - Net investment hedge. For cross currency interest rate swaps, the cross-currency basis spread and forward points are not designated into the hedge relationship, but deferred as a hedging cost in other comprehensive income, in Currency translation reserve - Net investment hedge - Cost of hedging, and recognized in profit or loss over the period of the hedge. The ineffective portion of the hedging relationship is recognised in the income statement. The accumulated foreign exchange gains and losses regarding the net investment and the related hedging instrument recognised in equity are transferred to the income statement when the foreign currency subsidiary is sold, as part of the gain or loss resulting from the disposal. Effectiveness For a hedge relationship to be classified as such, in accordance with IFRS 9, its effectiveness must be demonstrated. Therefore, the Group performs prospective tests at the inception date and at each balance sheet date, in order to demonstrate its effectiveness, showing that any adjustments to the fair value of the hedged item attributable to the risk being hedged are offset by adjustments to the fair value of the hedging instrument. Any ineffectiveness is recognised in the income statement when it occurs. E) Other financial assets The financial assets are classified based on the business model for managing the financial assets ("business model test") and their contractual cash flow characteristics ("SPPI test"). EDPR Group classifies its financial assets, at the initial recognition, in accordance with the aforementioned requirements introduced by IFRS 9, on the following categories: Financial assets at amortised cost A financial asset is measured at amortised cost if: (i) it is held within a business model whose objective is to hold assets in order to collect its contractual cash flows; and (ii) the contractual cash flows represent solely payments of principal and interest. Financial assets included within this category are initially recognised at fair value and subsequently measured at amortised cost. Any gain or loss arising on derecognition is recognised directly in profit or loss and presented in other gains/(losses) together with foreign exchange gains and losses. Impairment losses are presented as separate line item in the statement of profit or loss.

36 Loans and trade receivables are generally held to collect contractual cash flows and are expected to give rise to cash flows representing solely payments of principal and interest, thus they meet the criteria for amortised cost measurement under IFRS 9. Financial assets measured at fair value through other comprehensive income (FVOCI) A financial asset is measured at fair value through other comprehensive income if (i) the objective of the business model is achieved by both collecting contractual cash flows and selling financial assets; and (ii) the asset’s contractual cash flows represent solely payments of principal and interest. Financial assets included within this category are initially recognised and subsequently measured at fair value, with the changes in the carrying amount booked in other comprehensive income, except for the recognition of impairment gains or losses, interest revenue and foreign exchange gains and losses, which are recognised in profit and loss. When the financial asset is derecognised, the cumulative gain or loss previously recognised in other comprehensive income is reclassified to profit or loss. Financial assets at fair value through profit or loss (FVTPL) Financial assets that do not meet the criteria to be classified as financial assets at fair value through other comprehensive income (FVOCI) or at amortised cost, are classified at fair value through profit or loss, deemed to be a residual category under IFRS 9. Regardless of the business model assessment, EDPR Group can elect to classify a financial asset at fair value through profit or loss if doing so reduces or eliminates a measurement or recognition inconsistency (“accounting mismatch”). Changes in the business model assessment over time Financial assets are not reclassified subsequent to their initial recognition. However, if the Company changes its business model for managing financial assets, it will classify newly originated or newly purchased financial assets under the new business model but will keep the classification of existing assets under the previous business model. Recognition and derecognition of financial assets Purchases and sales of financial assets are recognised on the trade date, which is the date on which the Company commits to purchase or sell these financial assets. Financial assets are derecognised when: (i) the contractual rights to receive their future cash flows have expired, (ii) the Company has transferred substantially the risks and rewards of ownership, or (iii) although retaining some, but not substantially all the risks and rewards of ownership, the Company has transferred control over the assets. Impairment EDPR Group recognise an impairment loss based on the Expected Credit Loss (ECL) model, before the objective evidence of a loss event from past actions. This model is the basis for the recognition of impairment losses on held financial assets that are measured at amortised cost or at fair value through other comprehensive income (which includes cash and cash equivalents, trade receivables, loans and debt securities). The impairment methodology applied depends on whether there has been a significant increase in credit risk. If the credit risk on a financial asset does not increase significantly since its initial recognition, EDPR Group measures the loss allowance for that financial asset at an amount equal to 12-month expected credit losses. If the credit risk increases significantly since its initial recognition, EDPR Group measures the loss allowance for that financial asset at an amount equal to lifetime expected credit losses. Regardless of the above, a significant increase in credit risk is presumed if there is an objective evidence that the financial asset is impaired, including if there is observable data that comes to the attention of the holder of the asset about the following loss events, among others: significant financial difficulty of the issuer or obligor; restructuring of an amount due to the Company in terms that it would not consider otherwise; a breach of contract, such as a default or delinquency in interest or principal payments; or it becoming probable that the borrower will enter bankruptcy or other financial reorganization.

37 As soon as the loss event occurs (what is previous defined in IAS 39 as "objective evidence of impairment"), the impairment allowance would be allocated directly to financial asset affected, which provide the same accounting treatment, from that point, as previously provided by IAS 39, including the treatment of interest revenue. The asset’s carrying amount is reduced and the amount of the loss is recognised in profit or loss. If, in a subsequent period, the amount of the impairment loss decreases, the previously recognised impairment loss is reversed in profit or loss, if the decrease can be related objectively to an event occurring after the impairment loss was recognised. Trade receivables and loans EDPR Group applies the simplified approach and record lifetime expected losses on all trade receivables including those with a significant financing component. The estimated ECL are calculated based on actual credit loss experience over a period that, per business and type of customers, is considered statistically relevant and representative of the specific characteristics of the underlying credit risk. Considering the particularities of each business, exposures are segmented based on common credit risk characteristics such as credit risk grade, geographic region and/or industry. Actual credit loss experience is adjusted by scalar factors to reflect differences between economic conditions during the period over which historical data was collect, current conditions and EDPR Group's view of economic conditions over the expected lives of the receivables. For loans carried at amortised cost and FVOCI, EDPR Group performs an analysis based on the general approach. On making its assessment, the company has to make assumptions about risk of default and expected loss rates, which requires judgement. The inputs used for risk assessment and for calculation of the loss allowances for financial assets includes: (i) credit ratings (as far as available) from external credit rating companies such as Standard and Poor, Moody’s and Fitch.; (ii) significant changes in the expected performance and behavior of the borrower, including changes in the payment status of borrowers in the Group and changes in the operating results of the borrower; (iii) Public market data, namely on probabilities of default and loss given default expectations; and (iv) macroeconomic information (such as market interest rates or growth rates). F) Trade payables and other liabilities An instrument is classified as a financial liability when there is a contractual obligation for the issuer to liquidate capital and/or interests, through delivering cash or other financial asset, regardless of its legal form. Financial liabilities are recognised at the issuance date (trade date): (i) initially at fair value less transaction costs; and (ii) subsequently at amortised cost, using the effective interest method. All financial liabilities are booked at amortised cost, with the exception of the financial liabilities hedged at fair value hedge, which are stated at fair value on risk component that is being hedged. Initial measurement of lease liabilities (rents due from lease contracts) As provided by IFRS 16, as from 1 January 2019 EDPR Group measures the lease liability (rents due from lease contracts) on the commencement date based on the present value of the future payments of that lease contracts, discounted using EDPR Group's incremental borrowing rate for each portfolio of leases identified. EDPR Group determines the lease term as the non‐cancellable period of a lease, together with both: (i) periods covered by an option to extend the lease, if the lessee is reasonably certain to exercise that option; and (ii) periods covered by an option to terminate the lease, if the lessee is reasonably certain not to exercise that option. EDPR Group applies the recognition exemption provided by IFRS 16 for the leases which lease term is 12 months or less, or that are for a low-value asset. After the commencement date, the lease liability (rents due from lease contracts) are increased to reflect interest on the liability and reduced to reflect the lease payments made.

38 Remeasurement of the lease liabilities (rents due from lease contracts) EDPR Group remeasure the lease liability (rents due from lease contracts), and adjusts the corresponding right-of-use assets, by discounting the revised lease payments, using an unchanged discount rate, if either: • There is a change in future lease payments resulting from a change in an index or a rate used to determine those payments; or • There is a change in the amounts expected to be payable under a residual value guarantee. If there is a lease modification that do not qualifies to be accounted as a separate lease, EDPR Group remeasures the lease liability (rents due from lease contracts) and adjusts the corresponding right-of-use assets by discounting the revised lease payments, using a revised discount rate at the effective date of the modification. The variable lease payments that do not depend in an index or a rate are not included in the measurement of the liability regarding the rents due from lease contracts, nor the right-of-use asset. Those payments are recognised as cost in the period in which the event or condition that gives rise to the payments occurs. Derecognition of financial liabilities EDPR Group derecognises a financial liability (or a part of a financial liability) from its statement of financial position when, and only when, the obligation specified in the contract is discharged or cancelled or expires. An exchange between an existing borrower and lender of debt instruments with substantially different terms is accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability. Similarly, a substantial modification of the terms of an existing financial liability, or a part of it, is accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability. The difference between the carrying amount of a financial liability (or part of a financial liability) extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognised in profit or loss. G) Equity instruments A financial instrument is classified as an equity instrument when there is no contractual obligation at settlement to deliver cash or other financial asset to another entity, regardless of its legal form, and there is a residual interest in the assets of an entity after deducting all its liabilities. Costs directly attributable to the issuance of equity instruments are recognised in equity, as a deduction to the amount issued. Amounts paid or received relating to sales or acquisitions of equity instruments are recognised in equity, net of transaction costs. Distributions related to equity instruments are deducted from equity, as dividends, when declared. Equity instruments at fair value EDPR Group classifies the equity instruments that are held for trading at fair value to profit or loss. For all other equity instruments, management has the ability to make an irrevocable election on initial recognition, on an instrument-by- instrument basis, to present changes in fair value in other comprehensive income. If this election is made, all fair value changes, excluding dividends that are a return on investment, will be included in other comprehensive income. There is no recycling of amounts from other comprehensive income to profit and loss (for example, on sale of an equity investment) being, at that time, transferred to retained earnings.

39 H) Capitalisation of borrowing costs Borrowing costs that are directly attributable to the acquisition or construction of assets are capitalised as part of the cost of the assets. A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use or sale. To the extent that funds are borrowed generally, the amount of borrowing costs eligible for capitalisation are determined by applying a capitalisation rate to the expenditures on these assets. The capitalisation rate corresponds to the weighted average of the borrowing costs applicable to the outstanding borrowings during the period. The amount of borrowing costs capitalised during a period does not exceed the amount of borrowing costs incurred during the period. The capitalisation of borrowing costs commences when expenditures for the asset are being incurred, borrowing costs have been incurred and activities necessary to prepare all or part of the assets for their intended use or sale are in progress. Capitalisation ceases when substantially all the activities necessary to prepare the qualifying assets for their intended use or sale are completed. I) Property, plant and equipment Property, plant and equipment are stated at acquisition cost less accumulated depreciation and impairment losses. Cost includes expenditure that is directly attributable to the acquisition of the asset. In case of projects in a development stage, costs are only capitalized when it is probable that the project will be finally built. If due to changes in regulation or other circumstances costs capitalized are derecognized from property plant and equipment, they are recognized in the profit and loss caption of “Other expenses”. Replacements or renewals of complete items are recognized as increases in the value of property, plant and equipment and the items replaced or renewed are derecognized and recognized in the “Other expenses” caption. The cost of self-constructed assets includes the cost of materials and direct labor, any other costs directly attributable to bringing the asset to a working condition for its intended use, and the costs of dismantling and removing the items and restoring the site on which they are located. Cost also may include transfers from equity of any gain or loss on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment. Purchased software that is integral to the functionality of the related equipment is capitalised as part of that equipment. The cost of acquisition includes interest on external financing and personnel costs and other internal expenses directly or indirectly related to work in progress accrued solely during the period of construction. The cost of production is capitalised by charging costs attributable to the asset as own work capitalised under financial expenses and personnel costs and employee benefit expense in the consolidated income statement. Subsequent costs are recognised as separate assets only when it is probable that future economic benefits associated with the item will flow to the Group. Repair and maintenance costs are charged to the income statement during the financial period in which they are incurred. The Group carries out impairment tests whenever events or circumstances may indicate that the book value of an asset exceeds its recoverable amount and, at least, anually, being the impairment recognised in the income statement.

40 Land is not depreciated. Depreciation on the other assets is calculated using the straight-line method, less the residual value, over their estimated useful lives, as follows: NUMBER OF YEARS Buildings and other constructions 8 to 40 Plant and machinery: - Renewable assets 30 to 35 - Other plant and machinery 4 to 12 Transport equipment 3 to 5 Office equipment and tools 2 to 10 Other tangible fixed assets 3 to 10 Residual value is the amount determined by the Group related to the scrap to be obtained from dismantled wind farms and solar plants and is calculated based on the technology of each project and the estimated prices of steel, copper and aluminum in the case of solar plants. J) Intangible assets The Group´s intangible assets are booked at acquisition cost less accumulated amortisation and impairment losses. The Group does not own intangible assets with indefinite lives. The Group performs impairment tests, whenever events or circumstances may indicate that the book value of the asset exceeds its recoverable amount, being any impairment recognised in the income statement. Acquisition and development of software Acquired computer software licenses are capitalised on the basis of the costs incurred to acquire and bring to use the specific software. These costs are amortised on the basis of their expected useful lives, and typically in 5 years. Costs that are directly associated with the development of identifiable specific software applications by the Group, and that will probably generate economic benefits beyond one year, are recognised as intangible assets. These costs include employee costs directly associated with the development of the referred software and are amortised using the straight-line method during their expected useful lives. Maintenance costs of software are charged to the income statement when incurred. Industrial property and other rights Industrial property and other rights are amortised on a straight-line basis over the estimated useful life of the assets, which does not exceed 6 years. Green Certificates and Renewable Energy Credits (RECs) In some jurisdictions, on top of the market price, generators receive certificates for their performance, which are sold to the off-takers obliged to fulfil a quota obligation (a share of energy that must be sourced from renewable sources). Being these certificates considered subsidies under IAS 20 they are recognised when generated as intangible assets at fair market value mainly determined by active markets or public market operators. The intangible assets registered will be discharged at the time of their effective sale and difference between the selling price and the fair value of the certificates will be registered in the profit and loss account.

41 K) Leases/ Right-of-use assets EDPR Group presents the information related to lease contracts in the caption Right-of-use assets, creating a separate line in the Consolidated Statement of Financial Position. These assets are accounted for at cost less accumulated depreciation and impairment losses. The cost of these assets comprises the initial costs and the initial measurement of the liabilities regarding the rents due from lease contracts, deducted from the prepaid amounts and any incentives received. Depreciation of right-of-use assets is calculated on a straight-line basis over their estimated useful lives, considering the lease contract terms. Remeasurement of right-of-use assets If EDPR Group remeasures the lease liability (rents due from lease contracts) (see f), the corresponding right-of-use assets shall be adjusted accordingly. L) Non-current assets held for sale and discontinued operations Non-current assets or groups of non-current assets held for sale (groups of assets and related liabilities that include at least one noncurrent asset) are classified as held for sale when their carrying amounts will be recovered mainly through sale, the assets or groups of assets are available for immediate sale and the sale is highly probable. The Group also classifies as non-current assets held for sale, non-current assets or groups of assets acquired exclusively for its subsequent resale, that are available for immediate sale and the sale is highly probable. Prior to their classification as held for sale, the measurement of all non-current assets and all assets and liabilities included in a disposal group, is adjusted in accordance with the applicable IFRS standards. Subsequently, these assets or disposal groups are measured at the lowest between their carrying amount and fair value less costs to sell. M) Impairment of non-financial assets The carrying amounts of the Group’s non-financial assets, other than inventories and deferred tax assets, are reviewed to determine whether there is any indication of impairment. If any such indication exists, the asset’s recoverable amount is then estimated. The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. For the purpose of impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the cash-generating unit). The goodwill acquired in a business combination, for the purpose of impairment testing, is allocated to cash-generating units which are expected to benefit from the synergies of the combination. An impairment loss is recognised if the carrying amount of an asset or its cash-generating unit exceeds its estimated recoverable amount. Impairment losses are recognised in profit or loss. Impairment losses recognised in respect of cash-generating units are allocated first to reduce the carrying amount of any goodwill allocated to the units and then to reduce the carrying amount of the other assets in the unit (group of units) on a pro-rata basis. An impairment loss in respect of goodwill is not reversed. In respect of other assets, impairment losses recognised in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in circumstances that caused the impairment. An impairment loss is reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised.

42 N) Inventories Inventories are measured at the lower of the acquisition cost and net realisable value. The cost of inventories includes purchases, conversion and other costs incurred in bringing the inventories to their present location and condition. The net realisable value is the estimated selling price in the ordinary course of business less the estimated selling costs. The cost of inventories is assigned by using the weighted average method. O) Classification of assets and liabilities as current and non-current The Group classifies assets and liabilities in the consolidated statement of financial position as current and non-current. Current assets and liabilities are determined as follows: Assets are classified as current when they are expected to be realised or are intended for sale or consumption in the Group’s normal operating cycle, they are held primarily for the purpose of trading, they are expected to be realised within twelve months of the balance sheet date or are cash or a cash equivalent, unless the assets may not be exchanged or used to settle a liability for at least twelve months from the balance sheet date. Liabilities are classified as current when they are expected to be settled in the Group’s normal operating cycle, they are held primarily for the purpose of trading, they are due to be settled within twelve months of the balance sheet date or the Group does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting period. Financial liabilities are classified as current when they are due to be settled within twelve months after the reporting period, even if the original term was for a period longer than twelve months, and an agreement to refinance, or to reschedule payments, on a long-term basis is completed after the reporting period and before the consolidated financial statements are authorised for issue. P) Provisions Provisions are recognised when: (i) the Group has a present legal or constructive obligation, (ii) it is probable that settlement will be required in the future and (iii) a reliable estimate of the obligation can be made. Dismantling and decommissioning provisions The Group recognises dismantling and decommissioning of assets at the end of the assets’ useful life when there is a legal or contractual obligation. Consequently, the Group has booked provisions for property, plant and equipment related with renewables assets, for the expected cost of restoring sites and land to its original condition. The provisions correspond to the present value of the expenditure expected to be required to settle the obligation and are recognised as part of the initial cost or an adjustment to the cost of the respective asset, being depreciated on a straight-line basis over the asset useful life. Discounting and inflation rates used for 2021 are: EUROPE NORTH AMERICA BRAZIL Discount Rate [0.00% - 5.40%] [0.26% - 1.92%] [11.23% - 11.83%] Inflation Rate [0.00% - 3.95%] [2.00% - 2.50%] [3.33% - 17.18%] Discounting and inflation rates used for 2020 were: EUROPE NORTH AMERICA BRAZIL Discount Rate [0.00% - 4.04%] [0.13% - 1.45%] [2.79% - 7.64%] Inflation Rate [0.60% - 2.85%] [2.00% - 3.50%] [3.76% - 4.47%]

43 Decommissioning and dismantling provisions are remeasured on an annual basis based on the best estimate of the settlement amount and EDPR’s technical department performed an in-depth analysis taking into account the reality of the EDPR’s fleet. This analysis led to the conclusion that the average cost per megawatt and salvage value of the renewable assets required to be updated with effect December 2021 (see note 32). The unwinding of the discount at each balance sheet date is charged to the income statement. Tax liabilities Liabilities for payment of taxes or levies related to an activity of the Group are recognized as the activity which triggers the payment is carried out, according to the laws regulating such taxes or levies. However, in the cases of taxes or levies with right of reimbursement of the amount already paid proportionally to the period of time in which there is no activity or the asset which triggers the payment is no longer owned, liabilities are recognized on a proportional basis. Q) Recognition of revenue from contracts with customers EDPR Group recognises revenue in accordance with the core principle introduced by IFRS 15. Thus, the Group recognises revenue to depict the transfer of control of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for these goods or services, as provided in the 5 steps methodology, namely: (i) identify the contract with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to performance obligations; and (v) recognise revenue when (or as) the entity satisfies a performance obligation. Costs and revenues are recorded in the year to which they refer regardless of when paid or received, in accordance with the accrual basis. Differences between amounts received and paid and the corresponding revenue and cost are recorded under Other assets and Other liabilities. Revenue in EDPR Group arises essentially from electricity generation and green certificate sales. For electricity generation, the transfer of control occurs when the energy is generated and injected into the transport/distribution grids. The electricity generated is sold under free market conditions or through the establishment of medium/long term power purchase agreements. In the sale of green certificates, the performance obligation becomes effective when they are made available to the client, that is, when control of the certificate is transferred to the client. For contracts that include sale of electricity and green certificates, there is only one performance obligation that becomes effective when the electricity is made available to the customer. At that moment, the energy is made available to the client at the point of delivery and, at the same time, the control of the green certificate is transferred to the client. These contracts have a unique price that includes both concepts under the same performance obligation, which is the delivery of electricity and green certificates at the same time. In what concerns variable transaction prices, EDPR Group only recognises revenue when it is highly probable that there will not be any significant reversal of the recognised revenue, when it becomes certain. IFRS 15 requires that this estimate of variable transaction prices is determined using either (i) the expected value method – based on probability-weighted amounts, or (ii) the most likely outcome method. EDPR Group considers the facts and circumstances when analyzing the terms of each contract with customers, applying the requirements that determine the recognition and measurement of revenue in a harmonized manner, when considering contracts with the same characteristics and in similar circumstances. Value of adjustments for deviations in the market price in accordance with article 22 of Royal Decree 413/2014 On 22 October 2021, the CNMV issued a statement establishing the criteria for accounting for the value of the adjustments for deviations in the market price in accordance with article 22 of Royal Decree 413/2014, of 6 June, which regulates the activity of electricity production from renewable energy sources, cogeneration and waste (RD 413/2014). The value of the adjustments for deviations in the market price includes the differences, which occur in each year, between the income from the sale of energy at the price estimated by the regulator at the beginning of each regulatory semi-period and the real average market price in said year.

44 EDPR had already been applying the criteria established by the CNMV, so that, each of the positive and negative market deviations arising under RD 413/2014 are typically recognized as assets and liabilities in the consolidated statement of financial position. However, if throughout the residual regulatory life of the renewable facilities, according to EDPR’s best estimate of the future evolution of energy market prices, it would be highly probable that market returns would be higher than those established in the RD 413/2014 and, therefore, abandoning the remuneration regime would not have significantly more adverse economic consequences than remaining in said regime, it is considered that in this situation, only the asset is recognized. As at 31 December 2021, it has not been abandoned the remuneration regime for any of the renewable facilities. R) Financial results Financial results include interest costs on borrowings, interest income on funds invested, dividend income, foreign exchange gains and losses, realised gains and losses, changes in fair value of derivative financial instruments related to financing activity classified by the Group, within IFRS 9, as held for trading and consequently measured at fair value through profit or loss and changes in the fair value of hedged risks, when applicable. Interest is recognised in the income statement on an accrual basis. Dividend income is recognised on the date the right to receive is established. Considering the accounting model provided by IFRS 16, the financial results include the interest expenses (unwinding) calculated on the liabilities regarding the rents due from lease contracts. S) Income tax Income tax recognised in the income statement includes current and deferred tax. Income tax is recognised in the income statement except to the extent that it relates to items recognised directly in equity, in which case it is also recognised in equity. Deferred taxes arising from the revaluation of assets measured at fair value through other comprehensive income and cash flow hedge derivatives recognised in equity are recognised in the income statement in the period the results that originated the deferred taxes are recognised. Current tax is the tax expected to be paid on the taxable income for the period, using tax rates enacted at the statement of financial position date and any adjustment to tax payable in respect of previous years. Deferred taxes are calculated in accordance with the balance sheet liability method, considering temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their respective tax basis, using the tax rates enacted or substantively enacted at the balance sheet date for each jurisdiction and that are expected to be applied when the temporary differences are reversed. Deferred tax liabilities are recognised for all taxable temporary differences except for goodwill not deductible for tax purposes, differences arising on initial recognition of assets and liabilities that affect neither accounting nor taxable profit and differences relating to investments in subsidiaries, to the extent that these will probably not be reversed in the future. Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available to absorb deductible temporary differences for taxation purposes. The Group offsets, as established in IAS 12, the deferred tax assets and liabilities if, and only if: • the entity has a legally enforceable right to offset current tax assets against current tax liabilities; and • the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously, in future periods in which deferred tax liabilities or assets are expected to be settled or recovered. When accounting for interest and penalties related to income taxes, EDPR Group considers whether a particular amount payable or receivable is, in its nature, a taxable income and, if so, applies IAS 12 to this amount. Otherwise, IAS 37 is applied.

45 T) Earnings per share Basic earnings per share are calculated by dividing the consolidated net profit attributable to equity holders of EDP Renováveis S.A. by the weighted average number of ordinary shares outstanding during the year, excluding the average number of ordinary shares purchased by the Group and held as treasury stock. For the diluted earnings per share calculation, the weighted average number of ordinary shares outstanding is adjusted to consider conversion of all dilutive potential ordinary shares, such as convertible debt and stock options granted to employees. The dilution effect corresponds to a decrease in earnings per share resulting from the assumption that the convertible instruments are converted or the options granted are exercised. U) Cash and cash equivalents Cash and cash equivalents include balances with maturity of less than three months from the date of acquisition, including cash and deposits in banks. This caption also includes other short-term, highly liquid investments that are readily convertible to known amounts of cash and specific demand deposits in relation to institutional partnerships that are funds required to be held in escrow sufficient to pay the remaining construction related costs of projects in institutional equity partnerships in U.S.A., in the next twelve months. The Group classifies as cash and cash equivalents the debit balance of the current accounts with EDP Group formalized under cash-pooling agreements. V) Government grants Government grants are recognised initially as deferred income under non-current liabilities when there is reasonable assurance that they will be received and that the Group will comply with the conditions associated with the grant. Grants that compensate the Group for expenses incurred are recognised in profit or loss on a systematic basis in the same periods in which the expenses are recognised. W) Environmental issues The Group takes measures to prevent, reduce or repair the damage caused to the environment by its activities. Expenses derived from environmental activities are recognised as other operating expenses in the period in which they are incurred. X) Institutional partnerships in North America The Group has entered in several partnerships with institutional investors in the United States, through limited liability Company operating agreements that apportion the cash flows generated by the wind farms between the investors and the Company and allocates the tax benefits, which include Production Tax Credits (PTCs), Investment Tax Credits (ITCs) and accelerated depreciation, largely to the investor. The institutional investors purchase their minority partnership interests for an upfront cash payment with an agreed targeted internal rate of return over the period that the tax credits are generated. This anticipated return is computed based on the total anticipated benefit that the institutional investors will receive and includes the value of PTCs / ITCs, allocated taxable income or loss and cash distributions received. The control and management of these wind farms are a responsibility of EDPR Group and they are fully consolidated in these financial statements.

46 The financial instruments held by the institutional investors issued by the partnerships represent compound financial instruments as they contain characteristics of both financial liabilities and equity. The Group has determined that at the funding dates, the fair values of the original proceeds is equal to the fair values of the liabilities at that time and no value was assigned to the equity component. Subsequently, these liabilities are measured at amortized cost. This liability is reduced by the value of tax benefits provided and cash distributions made to the institutional investors during the contracted period. The value of the tax benefits delivered, primarily accelerated depreciation and ITC are recognized as Income from institutional partnerships over the 30-35 year useful life of the assets and over the 5-year recapture period, respectively (see note 8). The value of the PTCs delivered are recorded as generated. This liability is increased by an interest accrual that is based on the outstanding liability balance and the targeted internal rate of return agreed. After the Flip Date (date on which institutional investors reach their specified return as indicated in the corresponding agreements), the institutional investor retains a non-significant interest for the duration of the structure. This non-controlling interest is entitled to distributions ranging from 2.5% to 10% and taxable income allocations ranging from 5% to 10%. EDPR NA has an option to purchase the institutional investor’s residual interest at fair market value during a defined period following the flip date. Such fair value is calculated according to the future cashflows of the wind or solar projects or by an external party. This amount is reclassified from the total equity attributable to the Parent to non-controlling interests caption in the period in which the flip date takes place (see note 30). Deferred tax liabilities arise since related project’s assets are consolidated and corresponding accounting depreciation is registered, while a very large allocation of the tax depreciation is absorbed by the institutional investor. Y) Statement of Cash Flow The Statement of Cash Flow is presented under the direct method, by which gross cash flows from operating, financing and investing activities are disclosed. The Group classifies cash flows related to interest and dividends paid as financing activities and interest and dividends received as investing activities. 03. Recent accounting standards and interpretations issued Standards, amendments and interpretations issued effective for the Group The amendments that have been issued and that are already effective and that the Group has applied on its financial statements, with no significant impacts are the following: • IFRS 4 (Amended) – Deferral of effective dates to apply two optional solutions (temporary exemption from IFRS 9 and overlay approach); • IFRS 16 (Amended) – Covid 19 – Related Rent Concessions beyond 30 June 2021; • Amendments to IFRS 9, IFRS 7, IFRS 4 and IFRS 16 – Interest Rate Benchmark Reform (Phase 2): Inter-bank offered rates (IBOR) are benchmark interest rates used in various financial instruments, including loans, deposits or derivative financial instruments. EURIBOR and LIBOR are examples of this type of interest rates. Following the financial crisis, global regulators identified the need to replace the IBORs, due to the fact that they are based less on market-observable transactions and more on the opinion of experts, recommending that they be replaced by risk-free rates. Due to these recommendations, the transition from IBOR to risk-free rates (“RFR”) has begun. In this regard, several IBOR are being reformed: (i) LIBOR GBP – due to end on 31 December 2021; (ii) EONIA – scheduled for 31 December 2021; and (iii) LIBOR USD – scheduled for 30 June 2023. Regarding EURIBOR, after the change in 2019, it is expected to continue and there are no indications that it will end in the near future. The changes from the interest rate benchmark reform were issued by the International Accounting Standards Board (IASB) in two phases, Phase 1, which deals with pre-substitution issues – issues prior to the replacement of a benchmark interest rate -, and Phase 2, which deals with issues of replacing a benchmark rate.

47 Given the significant number of financial instruments held by the EDPR Group indexed to a benchmark interest rate, the EDPR Group set up a working group to analyse the impacts of IBOR Reform in its different phases, involving the Financial Departments and the Risk Department of the EDPR and EDP Group. Regarding Phase 1, the amendments entered into force from 1 January 2020, with retrospective application. These amendments clarify that entities continue to apply certain hedging accounting requirements, assuming that the benchmark interest rate on which the hedged cash flows and cash flows of the hedging instrument are based will not be changed as a result of this reform; and include a set of exemptions that apply to all interest rate risk hedging relationships that are affected by the interest rate benchmark reform, which cease to apply when: (i) there is no longer uncertainty as to the timing and amount of the underlying cash flows; or (ii) the hedging relationship ends. The EDPR Group retroactively adopted the changes planned for Phase 1 on 1 January 2020. As at 31 December 2020, as alternative rates had not been defined yet, EDPR Group did not recognize any impact on its consolidated financial statements. Regarding Phase 2, the amendments entered into force from 1 January 2021, with retrospective application. These amendments essentially clarify: (i) the impacts on hedge accounting when Phase 1 exemptions no longer apply; (ii) the time at which the basis for determining the contractual cash flows required for financial instruments measured at fair value should be updated; and (iii) the impacts on the measurement of lease liabilities when there is a change in the basis for determining the respective contractual cash flows resulting from this reform. The EDPR Group retroactively adopted the changes planned for Phase 2 on 1 January 2021. Within the implementation of this phase and as for hedging accounting, the Group only updated the documentation of existing hedging relationships when one of these situations occurred: (i) designation of an alternative benchmark rate (specified contractually or not) as a hedged risk; (ii) change in the description of the hedged item, including a description of the designated part of cash flows or fair value to be hedged; or (iii) change in the description of the hedging instrument. When the existing hedge relationships are updated, the accumulated value in the cash flow hedge reserve is considered based on the new benchmark rate. In the event of discontinuation of hedge relationship when the benchmark interest rate on which the hedged future cash flows were based is changed as required by the reform, the accumulated value in the cash flow hedge reserve is also considered based on the alternative benchmark rate for the purpose of assessing whether the future hedged cash flows are still expected to occur. During 2021, no changes were made to hedge relationships or documentations, resulting from changes to benchmark interest rates. For financial instruments measured at amortised cost, the impact is reflected by the adjustment of the respective effective interest rate and there is no recognition of any gain or loss. For lease liabilities, there were no contracts identified for which the basis for determining contractual cash flows has been amended as a result of this reform. To summarize, according to the analysis made, the following categories of assets and liabilities were identified as potentially subject to the application of a benchmark interest rate: Cash and cash equivalents, collateral deposits, trade receivables, lease liabilities, financial debt, amounts payable under institutional partnerships in North America and derivative financial instruments. From the analysis carried out, it is concluded that only the following categories would be impacted by this reform: Cash and cash equivalents, collateral deposits, financial debt and derivative financial instruments. It should be noted that a significant part of the EDPR Group’s financial debt is being remunerated at fixed interest rates and therefore without exposure to the change in the benchmark interest rates. Given the announced end of the LIBOR GBP and EONIA rates for 31 December 2021, the Group began its analysis by the contractual relations which had these rates as a benchmark and throughout the year gradually replaced these rates in its contracts with risk-free rates, such as the SONIA and the €STER rates. For LIBOR USD (announced end date 30 June 2023) and EURIBOR (replacement is not expected in the near future), the Group has not made as of 31 December 2021 any change in its contracts and is monitoring the contractual relationships that will potentially be affected by this reform in order to minimize uncertainty regarding the applicable interest rate and the timing of the flows associated with the benchmark interest rate.

48 Thus, with reference to 31 December 2021, the EDPR Group’s exposure to IBOR benchmark rates is as follows (derivative financial instruments are presented at notional value while the remaining instruments are presented at their net book value): LIBOR USD LIBOR CAD EURIBOR OTHER (*) TOTAL Cash and cash equivalents 46,697 - 418,158 - 464,855 Collateral deposits - - 1,867 - 1,867 Financial debt 203,309 155,411 118,933 323,399 801,052 Derivative financial instruments (notional): - Interest rate swaps 86,437 123,812 78,117 13,763 302,129 - Currency interest rate swaps 886,323 - 373,201 - 1,259,524 (*)Wibor , CAD-BA, CDI Standards, amendments and interpretations issued but not yet effective for the Group The standards, amendments and interpretations issued but not yet effective for the Group (whose effective application date has not yet occurred or, despite their effective dates of application, they have not yet been endorsed by the UE) are the following: • IFRS 17 – Insurance Contracts (and amendments related to initial application and comparative information); • IAS 1 (Amended) - Classification of Liabilities as Current or Non-current; • IFRS 3 (Amended) - Reference to the Conceptual Framework; • IAS 16 (Amended) - Proceeds before Intended Use; • IAS 37 (Amended) - Onerous Contracts – Cost of Fulfilling a Contract; • Annual Improvement Project (2018-2020); • IAS 1 (Amended) - Disclosure of Accounting Policies; • IAS 8 (Amended) - Disclosure of Accounting Estimates; and • IAS 12 (Amended) - Deferred tax related to assets and liabilities arising from a Single Transaction. 04. Critical accounting estimates and judgments in applying accounting policies The IFRS set forth a range of accounting treatments and require the Board of Directors to apply judgment and make estimates in deciding which treatment is most appropriate. The main accounting estimates and judgements used in applying the accounting policies are discussed in this note in order to improve the understanding of how their application affects the Group’s reported results and disclosures. A broader description of the accounting policies employed by the Group is disclosed in note 2 to the Consolidated Financial Statements. Although estimates are calculated by the Board of Directors based on the best information available at 31 December 2021 and 2020, future events may require changes to these estimates in subsequent years. Any effect on the financial statements of adjustments to be made in subsequent years would be recognised prospectively. Considering that in many cases there are alternatives to the accounting treatment adopted by EDP Renováveis, the Group’s reported results could differ if a different treatment was chosen. EDP Renováveis believes that the choices made are appropriate and that the financial statements are presented fairly, in all material respects, the Group’s financial position and results. The alternative outcomes discussed below are presented solely to assist the reader in understanding the financial statements and are not intended to suggest that other alternatives or estimates would be more appropriate. THOUSAND EUROS INTEREST RATES SUBJECT TO THE REFORM

49 Measurement of the fair value of financial instruments Fair values are based on listed market prices, if available. Otherwise, fair value is determined either by the price of similar recent transactions under market conditions, or determined by external entities, or based on valuation methodologies, supported by discounting future cash flows techniques, considering market conditions, time value, yield curves and volatility factors. These methodologies may require the use of assumptions or judgements in determining fair values. Consequently, the use of different methodologies and different assumptions or judgements in applying a particular model, could generate different financial results from those reported. Additionally, financial instruments’ classification as debt or equity requires judgement in the interpretation of contractual clauses and in the evaluation of the existence of a contractual obligation to deliver cash or other financial assets. Review of the useful life of the assets The Group reviews periodically the reasonableness of the assets' useful lives that are used to determine the depreciation rates of assets assigned to the activity, and prospectively changes the depreciation charge of the year based on such review. Lease Liabilities (Rents due from lease contracts) With the adoption of IFRS 16, the Group recognises right-of-use assets (ROU assets) and lease liabilities (rents due from lease contracts), if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Group assesses whether: i) the contract involves the use of an identified asset; ii) it has the right to obtain substantially all of the economic benefits from the use of the asset throughout the period of use; and iii) it has the right to direct the use of the asset. EDPR Group uses judgement on its assessment, namely concerning the termination and extension contract options and the determination of the incremental borrowing rate to be applied for each portfolio of leases identified. Impairment Impairment of long-term assets and Goodwill Impairment test are performed whenever there is an indication that the recoverable amount of property, plant, equipment and intangible assets is less than the corresponding net book value of assets. On an annual basis, the Group reviews the assumptions used to assess the existence of impairment in goodwill resulting from acquisitions of shares in subsidiaries. The assumptions used are sensitive to changes in macroeconomic indicators and business assumptions used by management. The net interest in associates is reviewed when circumstances indicate the existence of impairment. Considering the uncertainties regarding the recoverable amount of property, plant and equipment, right-of-use assets, intangible assets and goodwill as they are based on the best information available, changes in the assumptions could result in changes on the determination of the amount of impairment and, consequently, in results. Income taxes The Group is subject to income taxes in numerous jurisdictions. Certain interpretations and estimates are required in determining the global amount for income taxes. There are several transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. Different interpretations and estimates would result in a different level of income taxes, current and deferred, recognized in the period. Tax Authorities are entitled to review EDP Renováveis, and its subsidiaries’ determination of its annual taxable earnings, for a determined period that may be extended in case there are tax losses carried forward. Therefore, it is possible that some additional taxes may be assessed, mainly as a result of differences in interpretation of the tax law. However, the EDP Renováveis and its subsidiaries, do not anticipate any significant changes to the income tax booked in the financial statements.

50 EDPR evaluates the recoverability of deferred tax assets based on estimations of future taxable income in the period in which such deferred taxes are deductible. Deferred tax assets are yearly evaluated to ensure there are no indications of impairment. In these analyses, which are based on assumptions considered in the impairment test indicated in note 19, the Group verifies that such deferred tax assets are still recoverable in the future. Dismantling and decommissioning provisions The Board of Directors considers that Group has contractual obligations with the dismantling and decommissioning of property, plant and equipment related to wind and solar electricity generation. For these responsibilities the Group has recorded provisions for the expected cost of restoring sites and land to its original condition. The provisions correspond to the present value of the expenditure expected to be required to settle the obligation. EDPR’s technical department performed an in-depth analysis taking into account the reality of the EDPR’s fleet. This analysis led to the conclusion that the average cost per megawatt and salvage value of the renewable assets required to be updated, with effect December 2021 (see note 2.P and 32). The use of different assumptions in estimates and judgments referred may have produced different results from those that have been considered. Entities included in the consolidation perimeter In order to determine which entities must be included in the consolidation perimeter, the Group evaluates whether it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. This evaluation requires judgement, assumptions and estimates in order to conclude whether the Group is in fact exposed to variable returns and has the ability to affect those returns through its power over the investee. Other assumptions and judgments could lead to a different consolidation perimeter of the Group, with direct impact in the consolidated financial statements. Business combinations Under IFRS 3 (Business Combination) in a business combination, the acquirer shall recognize and measure in the consolidated financial statements the assets acquired and liabilities assumed at fair value at the acquisition date. The difference between the purchase price and the fair value of the assets and liabilities acquired leads to the recognition of goodwill or a gain from a purchase at a low price (bargain purchase). The fair value determination of the assets acquired and liabilities assumed is carried out internally or by independent external evaluators, using the discounted cash flows method, using the replacement cost or other fair value determination techniques, which rely on the use of assumptions including macroeconomic indicators such as inflation rates, interest rates, exchange rates, discount rates, sale and purchase prices of energy, cost of raw materials, production estimates, useful life and business projections. Consequently, the determination of the fair value and goodwill or gain from a purchase at a low price is subject to numerous assumptions and judgments and therefore changes could result in different impacts on results. Fair value measurement of contingent consideration and variable prices Contingent consideration from a business combination or variable prices for a sale of assets or businesses are measured at fair value at the acquisition date as part of the business combination or at the date of the sale in the event of a sale of a assets or businesses. This contingent consideration or variable price are subsequently remeasured at fair value at each report date. Fair value is based on discounted cash flows. The main assumptions consider the probability of achieving each objective and the discount factor, corresponding to the best estimates of management at each report date. Changes in assumptions could have significant impact on the values of variable prices for the assets and contingent liabilities recognised in the financial statement.

51 05. Financial risk management policies The businesses of EDP Renováveis Group are exposed to a variety of risks, including the effects of changes in electricity market prices, foreign exchange and interest rates. The main financial risks arise from interest-rate and the exchange-rate exposures. The volatility of financial markets is analysed on an on-going basis in accordance with EDPR’s risk management policies. Financial instruments are used to mitigate potential adverse effects on EDP Renováveis financial performance resulting from interest rates and foreign exchange rates changes. The Board of Directors of EDP Renováveis is responsible for the definition of general risk-management policies and the establishment of exposure limits. Recommendations to manage financial risks of EDP Renováveis Group are proposed by EDPR's Finance and Global Risk Departments and discussed in the Financial Risk Committee of EDP Renováveis, which is held quarterly. The pre-agreed strategy is shared with the Finance Department of EDP - Energias de Portugal, S.A., to verify the accordance with the policies approved by the Board of Directors of EDP. The evaluation of appropriate hedging mechanisms and the execution is done by EDPR but may also be outsourced to the Finance Department of EDP. All transactions undertaken using derivative financial instruments require the prior approval of the Board of Directors, which defines the parameters of each transaction and approves the formal documents describing their objectives. Exchange-rate risk management EDPR and EDP Group’s Financial Department are responsible for managing the foreign exchange exposure of the Group, seeking to mitigate the impact of exchange rate fluctuations on the net assets and net profits of the Group. Instruments used for hedging are foreign exchange derivatives, foreign exchange debt and other hedging structures with offsetting exposure versus the item to be hedged. The effectiveness of these hedges is reassessed and monitored throughout their lives. EDPR operates internationally and is exposed to the exchange-rate risk resulting from investments in foreign subsidiaries. With the objective of minimizing the impact of exchange rates fluctuations, EDP Renováveis general policy is to fund each project in the currency of the operating cash flows generated by the project. Currently, the main currency exposure is the U.S. Dollar, resulting from the shareholding in EDPR NA. EDPR is also exposed to Polish Zloty, Romanian Leu, Brazilian Real, British Pound, Canadian Dollar, Colombian Peso and Hungarian Forint. In the near future EDPR will also be exposed to the Singaporean Dollar and other Southeast Asian currencies. To hedge the risk originated with net investment in EDPR NA, EDP Renováveis uses financial debt expressed in USD and also entered into cross currency interest rate swaps (CIRS) USD/EUR with EDP - Energias de Portugal, S.A. Following the same strategy adopted to hedge the net investments in USA, EDP Renováveis has also entered into CIRS in, BRL/EUR, GBP/EUR, CAD/EUR and in COP/EUR to hedge the investments in Brazil, United Kingdom, Canada and Colombia, where exposures are sizable for hedging (see note 37). Sensitivity analysis - Foreign exchange rate As a consequence, a depreciation/appreciation of 10% in the most significant foreign currency exchange rate, with reference to 31 December 2021 and 2020, would originate an increase/(decrease) in EDP Renováveis Group income statement and equity before taxes, as follows: 31 DEC 2021 THOUSAND EUROS PROFIT OR LOSS EQUITY +10% -10% +10% -10% USD/EUR 8,315 -10,162 -31,591 38,611 RON/EUR 23 -28 - - BRL/EUR 107 -131 -18 22 8,445 -10,321 -31,609 38,633 For the currency PLN/EUR, since the process of selling of most of the portfolio of companies in Poland started (see note 27) , the global exposure will decrease significantly and will not achieve material impacts (see note 27).

52 31 DEC 2020 THOUSAND EUROS PROFIT OR LOSS EQUITY +10% -10% +10% -10% USD / EUR 8,321 -10,171 -11,209 13,670 8,321 -10,171 -11,209 13,670 This analysis assumes that all other variables, namely interest rates, remain unchanged. Interest rate risk management The Group’s operating cash flows are substantially independent from the fluctuation in interest-rate markets. The purpose of the interest-rate risk management strategy is to reduce the exposure of debt cash flows to market fluctuations. As such, whenever considered necessary and in accordance to the Group's policy, interest-rate financial instruments are contracted to hedge interest rate risks. These financial instruments hedge cash flows associated with future interest payments, converting floating rate loans into fixed rate loans. All these hedges are undertaken on liabilities in the Group’s debt portfolio and are mainly perfect hedges with a high correlation between changes in fair value of the hedging instrument and changes in fair value of the interest-rate risk or upcoming cash flows. The EDP Renováveis Group has a portfolio of interest-rate derivatives with maturities up to 18 years. The Financial Department of EDP Group undertakes sensitivity analyses of the fair value of financial instruments to interest-rate fluctuations or upcoming cash flows. About 89% of EDP Renováveis Group financial debt bear interest at fixed rates, considering operations of hedge accounting with financial instruments. Sensitivity analysis - Interest rates EDPR/EDP Group’s Financial Department are responsible for managing the interest rate risk associated to activities developed by the Group, contracting derivative financial instruments to mitigate this risk. Based on the EDPR Group debt portfolio and the related derivative financial instruments used to hedge associated interest rate risk, as well as on the shareholder loans received by EDP Renováveis, a change of 50 basis points in the interest rates with reference to 31 December 2021 and 2020 would increase/(decrease) in EDP Renováveis Group income statement and equity before taxes, as follows: 31 DEC 2021 THOUSAND EUROS +50 BPS -50 BPS +50 BPS -50 BPS Cash flow hedge derivatives - - 7,600 -7,600 Unhedged debt (variable interest rates) -6,148 6,148 - - -6,148 6,148 7,600 -7,600 31 DEC 2020 THOUSAND EUROS +50 BPS -50 BPS +50 BPS -50 BPS Cash flow hedge derivatives - - 722 -9,259 Unhedged debt (variable interest rates) -1,660 1,660 - - -1,660 1,660 722 -9,259 This analysis assumes that all other variables, namely foreign exchange rates, remain unchanged.

53 Counter-party credit-rate risk management in financial transactions The EDP Renováveis Group counter-party risk exposure in financial and non-financial transactions is managed by an analysis of technical capacity, competitiveness and probability of default to the counter-party. EDP Renováveis has defined a counter-party risk policy inspired in Basel III, which is implemented across all departments in all EDP Renováveis geographies. EDP Renováveis Group is exposed to counter-party risk in financial derivatives transactions in energy sales (electricity, GC and RECs) and in supply contracts. Counterparties in derivatives and financial transactions are restricted to high-quality credit institutions or to the EDP Group. Most relevant counterparties in derivatives and financial transactions are companies within EDP Group. Financial instruments contracted outside EDP Group are generally engaged under ISDA Master Agreements and credit quality of external counterparties is analysed and collaterals required when needed. In the process of selling the energy (electricity, GCs and RECs produced), counter-party exposure arises from trade receivables, but also from mark-to-market of long-term contracts: • In the specific case of the energy sales of EDPR EU Group, the Group’s main customers are utilities and regulated entities in the different countries (EDP and CNMC in the case of the Spanish market). Credit risk from trade receivables is not significant due to the limited average collection period for customer balances and the quality of its debtors. Additional counter-party risk comes from the countries with renewables incentives, which it is usually treated as regulatory risk; • In the specific case of EDPR NA Group, the Group’s main customers are regulated utility companies and regional market agents in the US. As it occurs in Europe, credit risk from trade receivables is not significant due to the limited average collection period for customer balances and the quality of the debtors. However, the exposure due to the mark-to-market of long-term contracts may be significant. This exposure is managed by a detailed assessment of the counter-party before signing any long term agreement and by a requirement of collaterals when financial soundness of the counterparty deteriorates. Regarding Trade receivables and other debtors, they are recognized net of the impairment losses. The Group believes that the credit quality of these receivables is adequate and that no significant impaired credits exist that have not been recognised as such and provided for. Counter-party exposure to suppliers arises mainly from pre-paid contracts with equipment manufacturers and civil engineering contractors. Counter-party analyses are performed for each new contract. If needed, either parent company guarantees or bank guarantees are requested to comply with the limits of exposure established by EDP Renováveis counter- party risk policy. The maximum exposure to customer credit risk by counterparty type is detailed as follows: CORPORATE SECTORS AND INDIVIDUALS Supply companies 158,432 19,952 Business to business 6,110 4,718 Other 1,039 25,781 Total Corporate sectors and individuals 165,581 50,451 Public sector 1,748 2,131 Total Public sector and Corporate sectors/individuals 167,329 52,582 The significant variation is mainly related to Spain and significant increase in electricity prices. THOUSAND EUROS DEC 2021 DEC 2020

54 Trade receivables by geographical market for the Group EDPR, is as follows: EUROPE NORTH AMERICA BRAZIL OTHERS TOTAL Corporate sectors and individuals 138,604 24,281 97 2,599 165,581 Public sector 1,441 307 - - 1,748 Total 140,045 24,588 97 2,599 167,329 In accordance with accounting policies - note 2 e), impairment losses are determined using the simplified approach precluded in IFRS 9, based on life time expected losses. Liquidity risk Liquidity risk is the possibility that the Group will not be able to meet its financial obligations as they fall due. The Group strategy to manage liquidity is to ensure, as far as possible, that it will always have significant liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group's reputation. The liquidity policy followed ensures compliance with payment obligations acquired, through maintaining sufficient credit facilities and having access to the EDP Group facilities who manages the Group liquidity risk through the engagement and maintenance of credit lines and financing facilities with a firm underwriting commitment with international reliable financial institutions as well as term deposits, allowing immediate access to funds. These credit lines are used to complement and backup national and international commercial paper programs, allowing the EDP Group’s short-term financing sources to be diversified. The Directors have estimated cash flows that show that the Group will meet the commitments existing at the close of the 2021 financial year and those foreseen for 2022. The maturity analysis for financial debt (see note 31), including expected future interests, is as follows: Bank loans 111,865 76,475 65,891 56,639 41,034 586,045 937,949 Loans received from EDP Group 575,270 480,219 460,166 219,632 466,405 896,855 3,098,547 Other loans 1,005 1,202 1,020 1,031 1,052 12,027 17,337 Expected future interests 73,009 103,727 81,557 59,102 48,906 211,767 578,068 761,149 661,623 608,634 336,404 557,397 1,706,694 4,631,901 EDPR has developed and presented to the markets a very ambitious Multi-Year Growth Plan, aimed at creating value for its shareholders, which entails a significant annual investment volume. EDPR defines itself as a listed company with a low risk profile and as such has defined a financing plan that ensures a balanced financial position structure, preserving its credit quality and, at the same time, guaranteeing the necessary flexibility to accommodate any temporary deviation that may occur throughout the implementation period of its growth plan. In the base case, the financing of the investment volume is ensured based on 5 major sources of financing: - The cash flow generated by the assets in operation and retained in the Group; - The program for selling assets in operation (sell down/Asset Rotation), as a way to anticipate and crystallize value/cash flow; - The Tax Equity Investment (the entry of institutional investors in projects developed in the US that materializes just before the entry into operation of the assets); - The capital increase in EDP Renováveis S.A. (as has been the case in 2021); THOUSAND EUROS DEC 2021 THOUSAND EUROS DEC 2022 DEC 2023 DEC 2024 DEC 2025 DEC 2026 FOLLOWING YEARS TOTAL

55 - Complemented by medium and long-term external financing, and namely: o Via Corporate Finance, as the most relevant solution; and o Project Finance, particularly in markets where the functional currency is different from EUR/USD and it is important to manage equity exposure to the market. Flexibility, in order to manage temporary differences or adjustments in the proportions of the components identified above, is given by the following variables: - EDPR has Current Accounts in EUR and USD with EDP Group that uses to manage daily/weekly/monthly its net liquidity needs; - EDPR has a formal agreement with its parent company (EDP Group) whereby EDP has agreed to provide the necessary financing for the execution of EDPR's Growth Plan; - Current Accounts and Overdrafts negotiated with commercial banks (as backup). Electricity market price risk As of 31 December 2021, electricity market price risk affecting the EDP Renováveis Group is not significant. In the case of EDPR NA, the great majority of the plants are under power purchase agreements or long-term financial contracts, with fixed or escalating prices. In the case of EDPR EU, the electricity is sold in Spain, France, Italy, Portugal and Poland through regulated tariffs or financial PPAs. In Romania the green certificates have a floor. For the small share of energy with merchant exposure after tariff regimes, PPAs or long-term financial contracts (electricity, green certificates and RECs), market risk is managed through the execution of electricity, green certificate and REC forward contracts. For this marginal exposure EDPR EU and EDPR NA have electricity, green certificates and REC financial swaps that qualify for hedge accounting (cash flow hedge) that are related to sales for the years 2021 to 2025 (see note 37). The purpose of EDP Renováveis Group is to hedge in advance a significant volume of the merchant exposure to reduce the volatility of energy prices in each reporting year. In 2021, the Group's total generation amounted to 30.3 TWh, of which 68% was subject to both regulated remuneration and long-term contracts and the remaining 32% was remunerated at market price. Anyway, as commented above, this portion of generation remunerated at market price is practically fully hedged (83%). During 2021 energy market prices have considerably increased following the increase in natural gas prices. Such spike in prices has become specially relevant in Europe, where maximum historical electricity prices were reached during last quarter of 2021. For EDPR EU and EDPR NA, the potential gain from the increase in electricity prices did not materialize, since, as indicated above, EDPR´s merchant exposure for the year 2021 was already hedged before the start of this trend. Considering recent spike in market prices and volatility, EDPR is closely managing and monitoring its exposure to market prices variations, despite being limited with current hedges in place. For 2022, EDPR´s exposure to a potential decrease of 30% in market prices would be approximately of 41,700 thousand euros. Capital management The Group’s goal in managing equity, in accordance with the policies established by its main shareholder, is to safeguard the Group’s capacity to continue operating as a going concern, grow steadily to meet established growth targets and maintain an optimum equity structure to reduce equity cost. In conformity with other sector groups, the Group controls its financing structure based on the leverage ratio. This ratio is calculated as net financial borrowings divided by total equity and net borrowings. Net financial borrowings are determined as the sum of financial debt, institutional equity liabilities corrected for non-current deferred revenues, less cash and cash equivalents.

56 Climate-related risk The Earth's climate has changed throughout history. Scientists attribute the current global warming trend observed since the mid-20th century to the human expansion of the "greenhouse effect" – warming that results when the atmosphere traps heat radiating from Earth toward space. Over the last century, the burning of fossil fuels like coal and oil has increased the concentration of atmospheric carbon dioxide (CO2). EDPR is a clear example of how fighting against climate change creates business opportunities. The Company’s core business, to deliver clean energy by developing, building and operating top quality wind farms and solar plants, inherently implies the reduction of greenhouse gas emissions, contributing to the world’s fight against climate change and its impacts. Since its inception, EDPR has been performing a strategy focused on selective growth, by investing in quality projects with predictable future cash-flows, and seamless execution, supported by core competences that yield superior profitability, all embedded within a distinctive and self-funding model designed to accelerate value creation. As a result of undertaking such strategy, at the same time flexible enough to accommodate changing business and economic environments, EDPR remains today a leading company in the renewable energy industry. As presented in its 2021-25 Business Plan, EDPR plans to add 20 GW in the 2021-2025, of which 8.4 GW is already secured. EDPR will diversify its portfolio geographically and technologically even more, developing more wind onshore, solar, wind offshore, green hydrogen and storage technology along with the entrance in new markets. During 2021, EDPR added 2,584 MW and finished the year managing a global portfolio of 13.6 GW. Benefiting from a diversified portfolio, the Company generated 30.3 TWh of renewable energy, avoiding the emissions of 18.3 million tons of CO2. Capital expenditures and financial investments with capacity additions, ongoing construction and development works during the year totalled €2,852 million. However, EDPR faces climate change not only as a business opportunity, but also as an opportunity to innovate. EDPR’s commitment to innovation and new technologies has made it a leader in the renewable energy sector. Currently, the Company continues to take advantage of all expertise obtained since the start of its inception to ensure more efficient solutions, more attractive returns and a more sustainable future. As a result, EDPR engages in projects that englobe wind energy, solar energy, energy storage plants, floating offshore wind farms, green hydrogen and hybrid power plants. Nevertheless, on the risk side, meteorological changes may pose a risk for EDPR’s activities and results since they are carried out in areas of the planet that are being affected by climate change. In addition, future estimations of wind and solar production are based on analysis of historical measurements for more than 20 years and they are considered to be representative of the future. However, relevant unexpected meteorological changes could lead to a lower production than the one expected from historical data. Thus, when evaluating a new investment, EDPR considers potential changes in the production forecasted but, even so, the size of the potential deviation in the case of relevant meteorological changes is uncertain. Moreover, renewable plants in construction and in operation are exposed to weather hazards, natural disasters, etc. These risks depend on the location of the assets. At EDPR, all plants are insured from the physical damage during construction and operation. During operation, any natural disaster, weather hazard or accident will also be partially insured to revenue losses due to the event. Thus, no material impacts are identified in the EDPR’s consolidated financial statements as a consequence of climate change. As a sector leader, EDPR is aware of the urgency to fight climate change and even though its business inherently implies a positive impact on the environment, the Company continues to work on a daily basis to hold itself to a higher standard and to incorporate innovation in its value chain in order to further contribute to the protection of the climate.

57 06. Consolidation perimeter During the year ended in 31 December 2021, the changes in the consolidation perimeter of the EDP Renováveis Group were: Companies acquired: The following acquisitions were classified as asset purchases, out of scope of IFRS 3 – Business Combinations, due to the substance of these transactions, the type of assets acquired and the very early stage of the projects (see note 2B): • EDP Renováveis, S.A. and EDP Renewables Europe, S.L.U. acquired 100% of the company Aioliki Oitis Energiaki Single- Member LLC; • EDP Renewables Europe, S.L.U. acquired 51% of the companies Enercoplan Energy – EPC & Investments IKE and Sofrano S.A. and 100% of the companies Kadmeios Anemos Energiaki, A.E., Voiotikos Anemos Energy, A.E., Energopark, S.R.L., International Solar Energy, S.R.L., Nyírség Watt, Kft., Solar Phoenix, S.R.L., and Beta Wind, S.R.L.; • EDP Renewables Polska, Sp. z o.o acquired 100% of the company Elektrownia Kamienica, Sp. z o.o.; Neo Solar Chotków, Sp. z o.o., Neo Solar Przykona II, Sp. z o.o; Farma Fotowoltaiczna Koden, Sp. z o.o. ; and WF Energy III, Sp. z o.o. ; • EDP Renováveis, S.A. acquired 100% of the companies Los Llanos Solar, SpA, Parque Eólico San Andrés, SpA, Parque Eólico Victoria, SpA. and Parque Eólico Punta de Talca, SpA ; and 60% of the company OMA Haedori Co., Ltd. ; • EDP Renewables Italia S.r.l. acquired 100% of the company C & C Tre Energy S.r.l.; • EDP Renováveis Brasil S.A. acquired 100% of the companies Central Geradora Fotovoltaica Monte Verde Solar II S.A., Central Geradora Fotovoltaica Monte Verde Solar III S.A., Central Geradora Fotovoltaica Monte Verde Solar IV S.A., Central Geradora Fotovoltaica Monte Verde Solar VI S.A., Central Geradora Fotovoltaica Monte Verde Solar VII S.A., Central Eólica Amanhecer I, S.A., Central Eólica Amanhecer II, S.A., Central Eólica Amanhecer III, S.A., Central Eólica Amanhecer IV, S.A., Central Eólica Amanhecer V, S.A., Central Eólica Amanhecer VI, S.A., Central Eólica Amanhecer VII, S.A., Central Solar Novo Oriente I, S.A., Central Solar Novo Oriente II, S.A., Central Solar Novo Oriente III, S.A., Central Solar Novo Oriente IV, S.A., Central Solar Novo Oriente V, S.A., Central Solar Novo Oriente VI, S.A. ; • EDP Renewables North America LLC acquired the companies Crooked Lake Solar LLC, Clover Creek Solar Project LLC, and Wolf Run Solar LLC. Additionally, the following companies were acquired: • In the first quarter of 2021, EDP Renováveis, S.A. acquired, through a North American subsidiary, an 85% stake in a distributed solar generation (DG) business that includes 89 MW of operating capacity and near completion capacity with a near-term pipeline of approximately 120 MWs through 16 states, for an amount of 46,530 thousand Euros (55,032 thousand US Dollar). This transaction was framed within the scope of IFRS 3 – Business combinations. that has implied the recognition of goodwill in the consolidated financial statements in the amount of 1,575 thousand Euros (see note 9 and 42); • In the second quarter of 2021, EDP Renováveis, S.A. acquired a 100% stake in the portfolio of Singaporean and Vietnamese companies of Trung Son SG Pte. Ltd (formerly Trina Solar Investment First Pte. Ltd.), LYS Energy Investment Pte. Ltd. and Trung Son Energy Development Limited Liability Company (formerly Trung Son Energy Development Joint Stock Company) for a total amount of 29,568 thousand Euros that includes a contingent consideration of 4,102 thousand Euros and shareholder loans in the amount of 16,381 thousand Euros. This last company owns a 28 MW PV operational project in Vietnam. This transaction was framed within the scope of IFRS 3 – Business combinations that has implied the recognition of goodwill in the consolidated financial statements in the amount of 2,343 thousand Euros (see note 19 and 42); • In the second quarter of 2021, EDP Renewables Italia S.r.l. acquired a 100% stake in the Italian company SPV Parco Eolico Aria Del Vento S.R.L. that owns a 16 MW wind operational project in Italy, for a total amount of 26,001 thousand Euros. This transaction was framed within the scope of IFRS 3 – Business combinations which has resulted in the recognition of a gain in the amount of 7,831 thousand Euros, which was recorded in the consolidated income statement (see note 9 and 42);

58 • In the third quarter of 2021 EDP Renewables Europe, S.L.U. acquired 100% of the company Vento Ludens Ltd., which owns 79% of the company Muirake Wind Farm Ltd. that operates a 5MW wind farm; and 100% of Lurg Hill Wind Farm Ltd. for a total amount of 14,673 thousand Euros that includes a contingent consideration of 1,016 thousand Euros and shareholder loans in the amount of 4,256 thousand Euros. This transaction was framed within the scope of IFRS 3 – Business combinations that has implied the recognition of goodwill in the consolidated financial statements in the amount of 544 thousand Euros (see note 19 and 42); Disposals with loss of control: • In the second quarter of 2021 EDP Renewables North America LLC. sold to Greencoat Fuji LLC, by 232,713 thousand Euros the equivalent of 280,500 thousand US Dollars, 68% of its interest in the company 2019 Vento XX LLC with a subsequent loss of share interest in the following companies: - Lexington Chenoa Wind Farm LLC - Broadlands Wind Farm LLC In accordance with the Shareholders Agreement and other relevant contracts, it has been established a shared control of the Company which led to a loss of control over the company and its consolidation by the equity method. This disposal with loss of control generated a gain on a consolidated basis of 95,119 thousand Euros, recorded in the income statement (see note 9). Within this transaction, on the third quarter, EDP Renewables North America LLC sold an additional 12% of its financial interest, for an amount of 41,380 thousand Euros, the equivalent of 49,500 thousand US Dollars, generating a gain of 811 thousand Euros Additionally to the above sale price, it should be considered a variable price, according to the relevant agreements signed, which fair value as of December 31, 2021 amounts to a negative amount of 20,396 thousand Euros. • In the fourth quarter of 2021 EDP Renewables North America LLC., through EDPR Solar Ventures V LLC, sold to CC&L Java Solar USA LLC, by 131,051 thousand Euros the equivalent of 154,999 thousand US Dollars, 80% of its interest in the companies Riverstart Ventures LLC and Riverstart Development LLC with a subsequent loss of share interest in the following companies: - 2019 SOL V LLC - Riverstart Solar Park LLC In accordance with the Shareholders Agreement and other relevant contracts, it has been established a shared control of the Company which led to a loss of control over the company and its consolidation by the equity method. This disposal with loss of control generated a gain on a consolidated basis of 34,825 thousand Euros, recorded in the income statement (see note 9). Companies sold and liquidated: • In the fourth quarter of 2021, EDPR Group, through its fully owned subsidiary EDP Renewables, SGPS S.A., sold to Onex Renewables, S.A.R.L. the EDPR’s entire stake in the Portuguese companies Eólica do Sincelo, S.A. and Eólica da Linha, S.A. Total shares proceeds for the transaction amount to 325,104 thousand Euros. This transaction has generated a gain, net of transaction costs, amounting to 307,699 thousand Euros, which has been registered within the “Other income” caption of the consolidated income statement (see note 9). • In the fourth quarter of 2021, EDPR Group, through its fully owned subsidiary EDP Renewables North America LLC sold to Northern Indiana Public Service Company LLC the EDPR’s entire stake in the company Indiana Crossroads Wind Farm LLC. Total proceeds for the transaction amount to 466,878 thousand Euros, the equivalent of 538,667 thousand US Dollars, that includes 269,799 thousand Euros to be received in the long term according to the relevant agreements. This transaction has generated a gain, net of transaction costs, amounting to 62,995 thousand Euros, which has been registered within the “Other income” caption of the consolidated income statement (see note 9). • EDP Renewables North America LLC sold the company Crittenden Wind Farm LLC with no significant impacts in the consolidated financial statements and liquidated the following companies: Horizon Wind Ventures II LLC and 2009 Vento IV LLC.;

59 • EDP Renewables Europe, S.L.U. sold the entire stake in the companies Ceprastur, A.I.E. , Aliseo, S.r.l., Elecdey Carcelén, S.A and ESC ERŐMŰ, Kft. with no significant impact in the consolidated financial statements, and liquidated the company Dunkerque Éoliennes en Mer, S.A.S.; • EDP Renewables Canada Ltd liquidated the company Quatro Limited Partnership; • EDP Renovables España S.L. liquidated the company Aprofitament D'Energies Renovables de la Terra Alta, S.A. Companies merged: • Merger of the company Nation Rise Wind Farm GP II Inc. into the company into EDP Renewables Canada Ltd with no impact in the consolidated financial statements; • Merger of the companies Cernavoda Power, S.A., Pestera Wind Farm, S.A., VS Wind Farm, S.A., Sibioara Wind Farm, S.R.L. into the company EDPR România, S.R.L. with no impact in the consolidated financial statements; • Merger of the companies Vaudrimesnil Energie, S.A.R.L., Parc Éolien de la Côte du Cerisat, S.A.S., La Plaine de Nouaille, S.A.S., Parc Éolien des 7 Domaines, S.A.S., Parc Éolien de Paudy, S.A.S., Parc Éolien de Flavin, S.A.S., Parc Éolien de Prouville, S.A.S., Parc Éolien de Marchéville, S.A.S., Parc Eolien Louvières, S.A.R.L., Parc Éolien des Longs Champs, S.A.R.L., Parc Éolien de Mancheville, S.A.R.L., Parc Éolien de La Hetroye, S.A.S., Parc Éolien de la Champagne Berrichonne, S.A.R.L., Bourbriac II, S.A.S., Parc Éolien de Boqueho-Plouagat, S.A.S., into the company EDPR France Holding S.A.S. with no impact in the consolidated financial statements; • Merger of the company Le Chemin de Saint Druon, S.A.S. into the company Le Chemin de la Corvée, S.A.S. with no impact in the consolidated financial statements. Companies Incorporated: • Randolph Solar Park LLC; • EDPR Northeast Allen Solar Park II LLC*; • Tillman Solar Park II LLC*; • Indiana Crossroads Wind Ventures LLC*; • Riverstart Solar Park VI LLC*; • EDPR NA Shelby Solar Park LLC*; • EDPR NA Greenfield Solar Park LLC*; • EDP Renewables Chile SpA; • Tillman Storage LLC*; • Sailor Springs Solar Park LLC*; • 10 Point Solar Park LLC*; • EDPR RS LLC*; • Pearl River Solar Park LLC; • EDPR México, S.L.U.; • EDP Renewables Chile, SpA; • EDPR Centro Italia PV, S.r.l.; • IAM Caecius, S.L.; • Site Sunwind Energy, S.L.; • Black Prairie Storage LLC*; • Black Prairie Storage II LLC*; • Black Prairie Solar Park II LLC*; • Rock Dane Solar Park LLC*; • Sawmill Junction Solar Park LLC*; • EDPR Wind Ventures XXIII LLC; • 2021 Vento XXIII LLC; • Cattlemen Solar Park II LLC*; • Desarrollos Renovables de Teruel, S.L.; • EDPR Investment Hungary, Kft.; * EDPR Group holds, through its subsidiary EDPR NA, a set of subsidiaries legally established in the United States without share capital and that, as at 31 December 2021, do not have any assets, liabilities, or any operating activity. Other changes: • EDPR sold during 2021 a 50.01% stake in the Nation Rise windfarm to the Algonquins of Pikwakanagan First Nation (AOPFN) Group. The sale price was the book value of this stake. EDPR has a call option at a fixed price over the stake sold. In addition EDPR has agreed to loan AOPFN the capital so that they can fund 50.01% of the equity. It has been determined that, from a consolidated accounting perspective, there was not an effective sale, thus EDPR is consolidating 100% of the company and no minority interests have been recognized.

60 During the year ended in 31 December 2020, the changes in the consolidation perimeter of the EDP Renováveis Group were: Companies acquired: EDPR Group, through its fully owned subsidiary EDP Renewables Europe S.L., acquired 100% of the companies Viesgo Europa, S.L.U., Viesgo Renovables, S.L.U. and related affiliates in the context of the conclusion, by the end of December 2020, of the acquisition of the renewables business of Viesgo for a total consideration of 563,488 thousand Euros of which an amount of 26,001 thousand Euros refers to shareholders loans. Related affiliates and indirect stake acquired are the following ones: Viesgo Mantenimiento, S.L.U. 100% Northeolic Monte Buño, S.L. 75% Compañía Eólica Aragonesa, S.A. 100% Parque Eólico do Barlavento, S.A. 89.98% S.E.E. - Sul Energía Eólica, S.A 100% IE2 Portugal, SGPS, S.A. 100% Eoliser - Serviços de Gestão para Parques Eólicos, Lda. 100% Elecdey Carcelén, S.A. 23% Eos Pax IIa, S.L. 48.5% Geólica Magallón, S.L. 36.24% San Juan de Bargas Eólica, S.L. 47.01% Unión de Generadores de Energía, S.L. 50% Eólica de São Julião, Lda. 45% Elecdey Ascoy, S.A. 19.5% Eólica de Levante, S.L 25% Eólicas Páramo de Poza, S.A. 15% This transaction has been considered, for consolidation purposes, within the scope of IFRS 3 – Business Combinations and has implied the recognition of goodwill in the consolidated financial estatements of 148,341 thousand Euros that includes previous Goodwill recognized in the book value at acquisition date amounting to 112,279 thousand. This transaction includes a business combination achieved in stages for the company Compañía Eólica Aragonesa, S.A., where EDPR had 50% of the shares of the company previously to this transaction, which has generated a gain in the amount of 1,887 thousand Euros, which was recorded in the consolidated income statement (see notes 9, 19 and 42). The following acquisitions were classified as asset purchases, out of scope of IFRS 3 – Business Combinations, due to the substance of these transactions, the type of assets acquired and the very early stage of the projects: • EDPR France Holding, S.A.S. acquired 100% of the company Société D'Exploitation du Parc Eolien Source de Sèves, S.A.R.L.; • EDP Renewables Italia Holding, S.R.L. acquired 100% of the company Aliseo, S.r.l., 100% of the company VRG Wind 153, S.r.l. and 60% of the companies Energia Emissioni Zero 4, S.r.l., Wind Energy San Giorgio, S.r.l. and Giglio, S.r.l.; • EDP Renewables Polska, Sp. zo.o. acquired 100% of the companies Wind Field Wielkopolska, Sp. zo.o., FW Warta, Sp. z o.o.; Neo Solar Farms, Sp. z o.o.; and R.Wind, Sp. z o.o.; • Korean Floating Wind Power Co., Ltd. acquired 90% of the company East Blue Power Co., Ltd.; • EDP Renováveis S.A. and EDP Renewables Europe S.L. acquired 100% of the company Parque Solar Los Cuervos, S. de R.L. de C.V.; • EDP Renewables Polska HoldCo, S.A. acquired 100% of the company Budzyn, Sp. z o.o.; FULL-CONSOLIDATED METHOD EQUITY-CONSOLIDATED METHOD EQUITY INSTRUMENTS AT FAIR VALUE

61 • EDP Renováveis, S.A. acquired 100% of the company Solar Power Solutions, S.A.S. E.S.P. which holds 100% of the companies Elipse Energía, S.A.S. E.S.P., Omega Energía, S.A.S. E.S.P. and Kappa Energía, S.A.S. E.S.P.; • EDP Renewables Europe, S.L. acquired 85% of the companies Sunlight Solar, Kft and ESC ERŐMŰ, Kft. and 100% of the companies Wind Shape, Ltd., Altnabreac Wind Farm Limited, Ben Sca Wind Farm Limited, Moorshield Wind Farm Limited, Drummarnock Wind Farm Limited, and Wind 2 Project 1 Limited; • EDP Renewables North America LLC acquired 100% of the companies RE Scarlet LLC and Misenheimer Solar LLC; • EDP Renováveis Brasil S.A. acquired 100% of the companies Central Solar Lagoa I, S.A. and Central Solar Lagoa II, S.A. Disposals with loss of control: • In the fourth quarter of 2020, EDP Renewables North America LLC through its fully owned subsidiary EDPR Wind Ventures XVII, LLC sold to CC&L Java Wind USA LLC by 231,714 thousand Euros, the equivalent of 264,646 thousand US dollars, 80% of its direct and indirect interests in the following companies: • 2017 Vento XVII, LLC; • Quilt Block Wind Farm LLC; • Meadow Lake V LLC; • Redbed Plains Wind Farm LLC; • Hog Creek Wind Project, LLC. In accordance with the Shareholders Agreement and other relevant contracts, it has been established a shared control of the Companies which led to a loss of control over the companies and their consolidation by the equity method. This disposal with loss of control generated a gain which has been registered within the “Other income” caption of the consolidated financial statements in the amount of 99,359 thousand Euros (see note 9). Companies sold and liquidated: • In the fourth quarter of 2020, EDPR Group, through its fully owned subsidiary EDP Renewables España S.L., sold to FRGE 2 S.a.r.l the EDPR’s entire stake in the following portfolio of Spanish companies: - Bon Vent de Corbera, S.L.U. - Eólica Sierra de Ávila, S.L.U. - Parc Eòlic de Torre Madrina, S.L.U. - Parc Eòlic de Coll de Moro, S.L.U. - Parc Eòlic de Vilalba dels Arcs, S.L.U. - Aprofitament D'Energies Renovables de L'Ebre, S.L. Total proceeds for the transaction amount to 449,658 thousand Euros from which an amount of 112,724 thousand Euros refer to shareholders loans. This transaction has generated a gain, net of transaction costs, amounting to 112,908 thousand Euros, which has been registered within the “Other income” caption of the consolidated income statement (see note 9); • EDP Renewables North America LLC sold the company Rosewater Wind Farm LLC for a total amount of 160,741 thousand Euros, the equivalent of 183,586 thousand US dollars. This transaction has generated a gain, as of 31 December 2020, which has been registered within the “Other income” caption of the consolidated financial statements in the amount of 14,438 thousand Euros (see note 9 and 34); • The companies Frontier Beheer Nederland, B. V. and Frontier, C.V., in which OW Offshore, S.L. held, directly or indirectly, a 30% financial interest, were liquidated; • EDP Renewables North America LLC liquidated the following companies: Horizon Wind Ventures VI LLC, 2009 Vento VI LLC, Horizon Wind Ventures VII LLC, 2010 Vento VII LLC, Horizon Wind Ventures VIII LLC and 2010 Vento VIII LLC. Companies merged: • Merger of the companies EDPR RO PV, S.R.L., Studina Solar, S.A., Cujmir Solar, S.A., Potelu Solar, S.A., Vanju Mare Solar, S.A., Foton Delta, S.A., Foton Epsilon, S.A. into the company EDPR România, S.R.L. with no impact in the consolidated financial statements.

62 Companies Incorporated: • Vanosc Energie, S.A.S.; • Transition Euroise Roman II, S.A.S.; • Mordel Limited • EDPR Offshore South Korea Co., Ltd.; • EDP Renewables Hungary Kft.; • EDP Renewables Vietnam Ltd.; • Duff Solar Park II LLC*; • EDPR Northeast Allen Solar Park LLC*; • Indiana Crossroads Solar Park II LLC*; • RTSW Solar Park LLC*; • RTSW Solar Park II LLC*; • RTSW Solar Park III LLC*; • RTSW Solar Park IV LLC*; • RTSW Solar Park V LLC*; • RTSW Solar Park VI LLC*; • EDPR Wind Ventures XXII LLC*; • 2020 Vento XXII LLC*; • Rosewater Ventures LLC*; • Timber Road II Storage LLC*; • Timber Road III Storage LLC*; • Top Crop I Storage LLC*; • Top Crop II Storage LLC*; • Twin Groves I Storage LLC*; • Twin Groves II Storage LLC*; • Cattlemen Solar Park LLC*; • Rail Splitter Wind Farm II LLC*; • Azalea Springs Solar Park LLC*; • Riverstart Development LLC; • Riverstart Ventures LLC*; • Timber Road Solar Park II LLC*; • Timber Road Solar Park III LLC*; • Edwardsport Solar Park LLC*; • Crescent Bar Solar Park LLC*; • Esker Solar Park II LLC*; • Bluebird Prairie Solar Park LLC*; • Tillman Solar Park LLC*; • EDPR NA DG Holding LLC*. * EDPR Group holds, through its subsidiary EDPR NA, a set of subsidiaries legally established in the United States without share capital and that, as at 31 December 2020, do not have any assets, liabilities, or any operating activity. Other changes: • A joint control partnership has been executed following the strategic memorandum of understanding dated May 2019 and signed between EDPR and ENGIE by which a co-controlled 50/50 joint venture in fixed and floating offshore wind business, OW Offshore S.L., has been established, including its subsidiaries: • OW FS Offshore, S.A.; • 4THEWIND I, B.V.; • 4THEWIND II, B.V. • 4THEWIND III, B.V.; • 4THEWIND IV, B.V. • 4THEWIND V, B.V. • 4THEWIND VI, B.V. • 4THEWIND VII, B.V. • 4THEWIND VIII, B.V. • Ancoris Beheer Nederland, B.V. • Les Eoliennes Flottantes du Golfe du Lion, S.A.S.; • Éoliennes en Mer Dieppe - Le Tréport, S.A.S.; • Éoliennes en Mer Îles d'Yeu et de Noirmoutier, S.A.S.; • EDPR Japan Godo Kaisha; • Les Eoliennes en Mer Services, S.A.S.; • EDPR Offshore South Korea Co., Ltd.; • OW France, S.A.S.; • Moray East Holdings Limited; • Relax Wind Park IV, Sp. z o.o.; • Moray Offshore Windfarm (East) Limited; • Morska Farma Wiatrowa Neptun, Sp. z o.o.; • Delphis Holdings Limited; • B-Wind Polska, Sp. z o.o.; • Moray West Holdings Limited; • C-Wind Polska, Sp. z o.o.; • Moray Offshore Windfarm (West) Limited;

63 • Ocean Wind UK Ltd; • Korean Floating Wind Power Co., Ltd.; • Mordel Limited; • East Blue Power Co. Ltd.; • Moray Offshore Renewable Power Limited; • Windplus, S.A.; • B&C Wind Polska sp. z o.o. s.c.; • Ventum Ventures III Holding, B.V.; • Redwood Coast Offshore Wind LLC; • Ventos do Atlântico - Projetos de Energía Eólica Ltda; • Electrabel Offshore Energy, CVBA; • SeaMade, N.V; • North Sea Wave, N.V.; • OW North America LLC; • North River Wind LLC; • Mayflower Wind Energy LLC. As a result of this transaction, EDP Renováveis has registered a gain in the amount of 217,633 thousand Euros in the other income caption of the consolidated income statement (see note 9); • EDPR owns 100% of Nation Rise LP trough Quatro Limited Partnership (99,99%) and Nation Rise Wind Farm GP Inc. (0,01%). • EDPR France Holding, S.A.S. sold 15% of the company Transition Euroise Roman II, S.A.S. with no significant impacts in the consolidated financial statements. 07. Revenues Revenues are analysed as follows: REVENUES BY BUSINESS AND GEOGRAPHY Electricity in Europe 902,605 802,171 Electricity in North America 567,316 648,225 Electricity in Brazil 66,089 36,215 1,536,010 1,486,611 Other revenues 3,959 8,182 1,539,969 1,494,793 Services rendered 43,359 27,336 CHANGES IN INVENTORIES AND COST OF RAW MATERIAL AND CONSUMABLES USED Cost of consumables used and changes in inventories -2,870 6,845 Total Revenues 1,580,458 1,528,974 The breakdown of revenues by segment is presented in the segmental reporting (see note 44). 08. Income from institutional partnerships in North America Income from institutional partnership in North America in the amount of 177,205 thousand Euros (31 December 2020: 201,783 thousand Euros), includes revenue recognition related to production tax credits (PTC), investments tax credits (ITC) and other tax benefits, mostly from accelerated tax depreciation related to projects Sol I, II and V, Blue Canyon I, Vento I to V, Vento IX to XVI, Vento XVIII and Vento XX to XXII (see note 33). THOUSAND EUROS 31 DEC 2021 31 DEC 2020

64 09. Other income Other income is analysed as follows: Amortisation of deferred income related to power purchase agreements 1,773 2,244 Contract and insurance compensations 27,957 21,653 Gains on business combinations 7,831 1,887 Gains on disposals 500,664 444,340 Other income 97,506 28,290 635,731 498,414 The power purchase agreements between EDPR NA and its customers were valued based on market assumptions, at the acquisition date of the business combination, using discounted cash flow models. At that date, these agreements were valued at approximately 190,400 thousand of USD and booked as a non-current liability (see note 34). This liability is amortised over the period of the agreements against other income. As at 31 December 2021, the amortisation for the period amounts to 1,773 thousand Euros (31 December 2020: 2,244 thousand Euros) and the non-current liability amounts to 5,092 thousand Euros (31 December 2020: 6,438 thousand Euros). The amount of 7,831 thousand Euros in caption Gains of business combinations refers to the acquisition of the operating company SPV Parco Eólico Aria del Vento S.R.L. (see note 6 and 42). As at 31 December 2020, the amount of 1,887 thousand Euros in such caption refers to the business combination achieved in stages for the company Compañía Eólica Aragonesa, S.A., where EDPR had 50% of the shares of the company and gained control through the acquisition of the remaining 50% of the shares in the context of the acquisition transaction of Viesgo’s renewable business (see note 6 and 42). As at 31 December 2021, the caption Gains on disposals essentially includes: • Gain amounting to 307,699 thousand Euros resulting from the sale of the entire stake in the Portuguese companies Eólica do Sincelo, S.A. and Eólica da Linha, S.A. (see note 6). • Gain amounting to 95,119 thousand Euros resulting from loss of control in the company 2019 Vento XX LLC and subsidiaries (see note 6). This amount includes 37,758 thousand Euros for the gain related to the fair value of the retained investment. It should also be considered an additional result in the amount of 811 thousand Euros related to the additional sale of a 12% stake in the company. • Gain amounting to 62,995 thousand Euros resulting from the sale of the entire stake in the North American company Indiana Crossroads Wind Farm LLC (see note 6). • Gain amounting to 34,825 thousand Euros resulting from loss of control in the companies Riverstart Development LLC and Riverstart Ventures LLC and subsidiaries (see note 6). This amount includes 8,167 thousand Euros for the gain related to the fair value of the retained investment. As at 31 December 2020, the caption Gains on disposals essentially includes: • Gain amounting to 217,633 thousand Euros resulting from loss of control in the EDPR’s offshore business during 2020 as a consequence of the the joint control partnership in this business following the strategic memorandum of understanding dated May 2019 and signed between EDPR and ENGIE by which a co-controlled 50/50 joint venture in fixed and floating offshore wind business, OW Offshore, S.L., has been established (see note 6); • Gain amounting to 112,908 thousand Euros resulting from the sale of the entire stake in the companies Bon Vent de Corbera, S.L.U., Eólica Sierra de Ávila, S.L.U., Parc Eòlic de Torre Madrina, S.L.U., Parc Eòlic de Coll de Moro, S.L.U., Parc Eòlic de Vilalba dels Arcs, S.L.U. and Aprofitament D'Energies Renovables de L'Ebre, S.L. (see note 6); • Gain amounting to 99,359 thousand Euros related to the sale of the 80% stake and loss of control in the companies EDPR Wind Ventures XVII, LLC and subsidiaries (see note 6); and • Gain amounting to 14,438 thousand Euros resulting from the sale of the entire stake in the company Rosewater Wind Farm LLC (see note 6). THOUSAND EUROS 31 DEC 2021 31 DEC 2020

65 As at 31 December 2021, the caption other income includes: the gain in the amount of 9,705 thousand Euros wich refers to changes in the fair value of the variable price related to the sale in 2018 to Sumitomo Corporation and in 2020 to OW Offshore SL of shares in the companies Éoliennes en Mer Dieppe - Le Tréport, SAS and Éoliennes en Mer Îles d'Yeu et de Noirmoutier, SAS (see note 22); and iii) the gain in the amount of 29,950 thousand Euros which refers to changes in the fair value of the variable price, related to the sale in 2020 to OW Offshore S.L. of Mayflower Wind Energy LLC. As at 31 December 2020, the caption other income includes: i) management and cost reinvoicing for UK offshore projects in the amount of 8,686 thousand Euros; and ii) price adjustment amounting to 3,335 thousand Euros according to the corresponding agreements in the transaction of selling 49% of Baixas de Feijão portfolio of companies to CTG that took place in 2015. 10. Supplies and services This caption is analysed as follows: Rents and leases 28,823 22,993 Maintenance and repairs 186,278 190,934 SPECIALISED WORKS: - IT Services, legal and advisory fees 24,758 13,354 - Shared services 19,661 12,004 - Other services 44,480 30,604 Other supplies and services 31,674 34,548 335,674 304,437 The caption Rents and leases mainly includes costs for variable lease payments and rental costs for short-term leases. 11. Personnel costs and employee benefits Personnel costs and employee benefits is analysed as follows: PERSONNEL COSTS Board remuneration (see note 39) 729 569 Remunerations 135,779 115,284 Social charges on remunerations 23,541 18,587 Employee's variable remuneration 37,739 26,896 Other costs 4,922 3,331 Own work capitalised (see note 16) -47,049 -38,324 155,661 126,343 EMPLOYEE BENEFITS Costs with pension plans 6,523 5,752 Costs with medical care plans and other benefits 12,075 9,061 18,598 14,813 174,259 141,156 As at 31 December 2021, Costs with pension plans relates essentially to defined contribution plans in the amount of 6,430 thousand Euros (31 December 2020: 5,636 thousand Euros) and defined benefit plans amounting to 5 thousand Euros (3 thousand Euros as at 31 December 2020). THOUSAND EUROS 31 DEC 2021 31 DEC 2020 THOUSAND EUROS 31 DEC 2021 31 DEC 2020

66 The average breakdown by management positions and professional category of the permanent staff during 2021 and 2020 is as follows: 2021 2020 Senior Managers 267 228 Managers 187 157 Specialists 1,260 1,034 Technicians 254 216 1,968 1,635 The breakdown by gender of the permanent staff as of 31 December 2021 and 2020 is as follows: 31 DEC 2021 31 DEC 2020 MALE FEMALE MALE FEMALE Senior Managers 213 73 179 55 Managers 153 58 124 47 Specialists 896 497 725 367 Technicians 192 68 178 60 1,454 696 1,206 529 The consolidation perimeter, available in Annex I of the consolidated annual accounts, includes the companies of the acquisition transaction reported at the end of December 2020. The information presented above as of 31 December 2020 did not include 45 employees of the companies whose shares were acquired since their integration was in the analysis phase. In the companies in Spain where there is a legal obligation to have people with disabilities in the workforce to comply with the LISMI due to the number of employees, EDPR has opted for the exceptionality measures provided by the Law. The Company is able to comply with the quota that legally applies to it through contracts of goods or services with companies that promote the hiring of disabled people and also through donations. EDPR’s companies under this obligation are covered with the exceptionality measures since March 2021 until 2023. For the rest of EDPR countries, the approach is the same. In 2020, as part of EDPR's global strategy, a Diversity and Equality Committee has been set up with the participation of the Management Team, whose objective is to integrate the commitment to this issue within the company. One of the objectives of this Committee is focused on the group of people with disabilities as one of the most important topics to be developed. 12. Other expenses Other expenses are analysed as follows: Taxes 86,981 76,072 Losses on fixed assets 10,656 1,492 Other costs and losses 67,384 45,050 165,021 122,614 The caption Taxes, on 31 December 2021, besides other direct and indirect taxes, includes the amount of 4,493 thousand Euros (31 December 2020: 23,666 thousand Euros) related to taxes for energy generators in Spain, affecting all the wind farms in operation, amounting to 7% of revenues for each wind farm. The reason for the significant decrease refers to the issuance of the Royal Decree Law 17/2021 by which the Spanish Government announced the temporary suspension of the 7% Energy Tax, for the third and fourth quarters of the year 2021. THOUSAND EUROS 31 DEC 2021 31 DEC 2020

67 Further, as commented in the Regulatory Framework of Romania, in note 1, on 29 October 2021, the Romanian Parliament Endorsed Law 259/2021, which approved and put into action Government Emergency Ordinance 118/2021. This Law includes a windfall tax for electricity producers until 31st March 2022, and the additional income obtained by electricity producers and resulting from the difference between the average monthly selling price of electricity and the price of RON 450/MWh will be taxed at 80%. The amount included for this concept in the caption Taxes amounts to 22,999 thousand Euros. Losses on fixed assets as at 31 December 2021 mainly refers to abandonment of projects in Europe. 13. Amortisation and impairment This caption is analysed as follows: PROPERTY, PLANT AND EQUIPMENT Buildings and other constructions 382 1,501 Plant and machinery 564,527 558,837 Other 5,202 4,641 Impairment loss - 348 570,111 565,327 RIGHT-OF-USE ASSETS Right-of-use assets 34,807 34,311 INTANGIBLE ASSETS Industrial property, other rights and other intangibles 18,402 16,841 623,320 616,479 Impairment of goodwill - 132 - 132 Amortisation of deferred income (Government grants) -16,031 -16,577 607,289 600,034 Right of use assets includes depreciation of IFRS 16 related assets. Amortisation of deferred income (Government grants) refers to grants for fixed assets received by EDPR NA subgroup under the American Recovery and Reinvestment Act promoted by the United States that are amortised through the recognition of revenue in the income statement over the useful life of the related assets (see note 34). THOUSAND EUROS 31 DEC 2021 31 DEC 2020

68 14. Financial income and financial expenses Financial income and financial expenses are analysed as follows: FINANCIAL INCOME Interest income 11,551 16,344 Derivative financial instruments: Interest 951 1,161 Fair value 30,623 19,431 Foreign exchange gains 64,442 39,443 Other financial income 418 356 107,985 76,735 FINANCIAL EXPENSES Interest expense 145,960 137,206 Derivative financial instruments: Interest 28,514 46,554 Fair value 31,447 15,352 Foreign exchange losses 60,782 49,807 Own work capitalised -32,457 -26,120 Unwinding 110,983 129,740 Other financial expenses 11,353 9,254 356,582 361,793 Net financial income / (expenses) -248,597 -285,058 Derivative financial instruments include interest liquidations on the derivative financial instrument established between EDPR and EDP - Energias de Portugal, S.A. (see notes 24, 35 and 37). In accordance with the corresponding accounting policy, the borrowing costs (interest) capitalised in tangible fixed assets in progress as at 31 December 2021 amounted to 32,457 thousand Euros (at 31 December 2020 amounted to 26,120 thousand Euros) (see note 16), which are included under Own work capitalised (financial interest). The interest rates used for this capitalisation vary in accordance with the related loans’ Interest expense refers to interest on loans bearing interest at contracted and market rates. Interest expense refers to interest on loans bearing interest at contracted and market rates. Unwinding expenses refers essentially to: (i) the implied return in institutional partnerships in North America amounting to 79,023 thousand Euros (31 December 2020: 94,718 thousand Euros) (see note 33); (ii) financial update of lease liabilities related to IFRS 16 in the amount of 28,852 thousand Euros (31 December 2020: 29,594 thousand Euros); and (iii) financial update of provisions for dismantling and decommissioning of wind and solar farms in the amount of 3,106 thousand Euros (31 December 2020: 5,420 thousand Euros) (see note 32). 15. Income tax expense and Extraordinary Contribution to the Energy Sector (CESE) The following note includes an analysis on the reconciliation between the theoretical and the effective income tax rate applicable at the level of the EDPR Group, on a consolidated basis. In general terms, the analysis on the reconciliation between the theoretical and the effective income tax rate aims at quantifying the impact of the income tax, recognised in the income statement, which includes both current and deferred tax. The note also includes an analysis on the extraordinary contribution to the energy sector (CESE). THOUSAND EUROS 31 DEC 2021 31 DEC 2020

69 As the EDPR Group prepares and discloses its financial statements in accordance with IFRS, an alignment between the accounting of income tax expense or income and the corresponding cash flow is not mandatory. Accordingly, this analysis does not represent the income tax paid or received by the EDPR Group for the corresponding reporting period. Notwithstanding the above, the income tax paid by the EDPR Group on a country-by-country basis is disclosed in the Annual Report, which is available on EDPR's website (www.edpr.com). This website also includes the details on the general principles concerning EDPR Group's mission and tax policy and the overall tax contribution to public finance in 2021. Main features of the tax systems of the countries in which the EDP Renewables Group operates The statutory corporate income tax rates applicable in the countries in which EDP Renewables Group operates are as follows: EUROPE: Belgium 25% 25% France 26.5-27.5% 28% Greece 24% 24% Hungary 9% 9% Italy 24% - 28.8% 24% - 28.8% Poland 19% 19% Portugal 21% - 31.5% 21% - 31.5% Romania 16% 16% Spain 25% 25% United Kingdom 19% 19% AMERICA: Brazil 34% 34% Canada 26.5% 26.5% Chile 27% 27% Colombia 31% 32% Mexico 30% 30% United States of America 24.91% 24.91% ASIA: South Korea 10%-25% 10%-25% Singapore 17% 17% Vietnam 20% 20% EDP Renováveis S.A. and its subsidiaries file individual tax returns in accordance with the applicable tax legislation. Nevertheless, the company and the majority of its Spanish subsidiaries are taxed under the tax consolidation group regime foreseen in the Spanish law. EDP - Energias de Portugal, S.A. - Sucursal en España (Branch) is the dominant company of this Group, which includes other subsidiaries that are not within the renewables energy industry. As per the applicable tax legislation, tax periods may be subject to inspection by the various Tax Administrations during a limited number of years. Statutes of limitation differ from country to country as follows: USA, Chile, Belgium and France: 3 years; Spain, United Kingdom, Singapore and Portugal: 4 years; Brazil, Colombia, Romania, Poland, South Korea, Hungary, Italy, Greece, Vietnam and Mexico: 5 years; and Canada: 10 years. Notwithstanding this, it is important to note that, in case of Portugal and France, if tax losses/credits being carried-forward are utilized, the statute of limitation is extended to the years when such tax losses/credits were generated. In Spain, tax losses may be subject to the Tax Authorities' verification up to 10 years after they are generated; once this period has expired, taxpayers must prove the origin of the tax losses whose utilization is intended. COUNTRY 31 DEC 2021 31 DEC 2020

70 Tax losses generated each year are also subject to Tax Administrations’ review and reassessment. As per the legislation currently in force, losses may be used to offset yearly taxable income assessed in the subsequent periods as follows: 5 years in Portugal, Greece, Hungary, Vietnam and Poland; 7 in Romania; 10 in Mexico; 12 in Colombia; 15 in South Korea; 20 in Canada; and indefinitely in the United States, Spain, Chile, France, Italy, Belgium, Brazil, Singapore and United Kingdom. Notwithstanding this, it is important to note that, in some geographies, tax losses generated in previous years might be subject to the limitation period that was applicable at the moment when they were generated (e.g., Portugal and the United States). Moreover, in France tax losses in a given year may be carried back against the taxable base assessed in the previous tax year, and in Canada and the US in the 3 previous years, and in Singapore in the previous year. Nothwithstanding this, the deduction of tax losses in the USA, Portugal, Colombia, South Korea, Spain, Greece, Hungary, Brazil, France, Italy, the United Kingdom and Poland is limited to a percentage of the taxable income of each period, or subject to other limitations. EDP Renováveis Group companies may, in accordance with the law, benefit from certain tax benefits or incentives under specific conditions. Most importantly, Production Tax Credits in the US which are the dominant form of wind remuneration in that country, and represent an extra source of revenue per unit of electricity over the first 10 years of the asset’s life. Wind farms that qualify for the application of the PTC prior to 1 January 2017, benefit from 100% of the credit ($28/MWh in 2018, $25/MWh in 2019, 2020 and 2021– being adjusted to inflation in subsequent years). The PTC amount is reduced by 20% for wind farms qualifying in 2017, 40% in 2018 and 60% in 2019 Additional legislation in 2020 and 2021 extended the aforementioned regime to wind facilities, with start of construction in 2020 or 2021, attributing 60% of the tax credit amount. Additionally, EDPR Group companies benefit from the Investment Tax Credit which avails solar projects to a credit based upon its capital expenditures. This credit amount equates to 26% for projects that start construction before 2022 and 22% for projects starting construction in 2023 as long as these projects go into service by 2025. Transfer pricing legislation is duly complied with by EDP Renováveis Group. Its policy follows the rules, guidelines and best international practices applicable across all geographies where the Group operates, in due compliance with the spirit and letter of the Law. Changes in the tax law with relevance to the EDP Renewables Group in 2021 As from 2021, the statutory CIT rates applicable in the following relevant geographies have been modified as follows: • In Colombia, even though the CIT rate was subject to a reduction from 32% to 31% in 2021, it will be raised again from 2022 onwards from 31% to 35%; • In France, the Finance Bill 2018 voted on 30 December 2017 (LOI n° 2017-1837 du 30 décembre 2017 de finances pour 2018) approved a progressive reduction of the general CIT rate to 25% by 2022. For fiscal years starting in 2021, the CIT rate amounts to 26.5%. Corporate income tax provision. This caption is analysed as follows: Current tax -46,903 -32,098 Deferred tax -42,922 -50,809 Income tax expense -89,825 -82,907 The effective income tax rate as at 31 December 2021 and 2020 is analysed as follows: Profit before tax 902,591 768,931 Income tax expense -89,825 -82,907 Effective Income Tax Rate 9.95% 10.78% The difference between the theoretical and the effective income tax expense, results from the application of the law provisions in the determination of the tax base, as demonstrated below. THOUSAND EUROS 31 DEC 2021 31 DEC 2020 THOUSAND EUROS 31 DEC 2021 31 DEC 2020

71 The reconciliation between the nominal and the effective income tax rate for the Group during the years ended 31 December 2021 and 2020 is analysed as follows: Profit before taxes 902,591 768,931 Nominal income tax rate (*) 25.00% 25,00% Theoretical income tax expense -225,648 -192,233 Fiscal revaluations, amortization, depreciation and provisions 1,998 1,437 Tax losses and tax credits 35,554 30,788 Financial investments in associates -26 -6,231 Difference between tax and accounting gains and losses 63,852 56,363 Effect of tax rates in foreign jurisdictions and CIT rate changes 14,656 3,090 Taxable differences attributable to non-controlling interests (USA) 15,852 15,298 Other 3,937 8,581 Efective income tax expense as per the Consolidated Income Statement -89,825 -82,907 (*) Statutory corporate income tax rate applicable in Spain The main captions are the following: • The caption "Tax losses and tax credits" mainly reflects the effect of the abovereferred PTCs retained by EDPR North America and the effect of tax losses in different geographies. • The caption "Difference between tax and accounting gains and losses" refers to changes in the Group’s perimeter not subject to income taxes. • The caption "Taxable differences attributable to non-controlling interests (USA)" essentially includes the effect inherent to the attribution of taxable income to non-controllable interests in the subgroup EDPR NA, as determined by the tax legislation of that geography. During 2021, the EDPR Group had various tax audits regarding different topics. The most relevant one was a the general tax audit in Romania, made to the company Cernavoda Power, S.A.. The process is currently still ongoing the administrative process; however, EDPR does not expect any further liability than the ones already recorded in the Group’s accounts at December, 2021. The General State Budget Law for 2022 approved the modification of Law 27/2014 on Corporation Tax, establishing a minimum taxation of 15% of the tax base. However, EDPR does not anticipate this modification to have a significant impact on the Group. Extraordinary Contribution to the Energy Sector (CESE) Law 83-C/2013, of the State Budget 2014 ("Lei do Orçamento de Estado 2014"), approved by the Portuguese Government on 31 December 2013, introduced an extraordinary contribution applicable to the energy sector (CESE), with the objective of financing mechanisms that promote the energy sector systemic sustainability, through the establishment of a fund which aims to contribute for the reduction of tariff debt and to finance social and environmental policies in the energy sector. This contribution focuses generally on the economic operators that develop the following activities: (i) generation, transportation or distribution of electricity; (ii) transportation, distribution, storage or wholesale supply of natural gas; and (iii) refining, treatment, storage, transportation, distribution and wholesale supply of crude oil and oil products. CESE is calculated based on the companies’ net assets as at 1 January, which comply, cumulatively, to: (i) property, plant and equipment; (ii) intangible assets, except industrial property elements; and (iii) financial assets assigned to concessions or licensed activities. In the case of regulated activities, CESE focuses on the value of regulated assets if it is higher than the value of those assets. As at 31 December 2021, EDPR Group recorded in caption Tax Liabilities a value for this contribution of 3,188 thousand Euros. THOUSAND EUROS 31 DEC 2021 31 DEC 2020

72 16. Property, plant and equipment This caption is analysed as follows: COST Land and natural resources 31,491 29,585 Buildings and other constructions 20,646 19,276 Plant and machinery: - Renewables generation 18,265,839 16,446,322 - Other plant and machinery 10,467 10,985 Other 76,909 67,562 Assets under construction 2,420,599 2,571,806 20,825,951 19,145,536 ACCUMULATED DEPRECIATION AND IMPAIRMENT LOSSES Depreciation charge -570,111 -564,979 Accumulated depreciation in previous years -5,546,034 -4,941,938 Impairment losses - -348 Impairment losses in previous years -147,506 -146,553 -6,263,651 -5,653,818 Carrying amount 14,562,300 13,491,718 The movement in Property, plant and equipment during 2021, is analysed as follows: COST Land and natural resources 29,585 2,354 -57 - 1,065 -1,456 31,491 Buildings and other constructions 19,276 260 - - 1,077 33 20,646 Plant and machinery 16,457,307 307,489 -35,006 2,091,321 849,849 -1,394,654 18,276,306 Other 67,562 5,499 -1,350 2,925 2,788 -515 76,909 Assets under construction 2,571,806 2,243,963 -19,403 -2,090,120 115,633 -401,280 2,420,599 19,145,536 2,559,565 -55,816 4,126 970,412 -1,797,872 20,825,951 ACCUMULATED DEPRECIATION AND IMPAIRMENT LOSSES Buildings and other constructions 11,736 382 - - 938 - 13,056 Plant and machinery 5,523,972 564,527 - -24,879 253,583 -190,754 6,126,449 Assets under construction 72,981 - - - 150 - 73,131 Other 45,129 5,202 - -1,322 2,135 -129 51,015 5,653,818 570,111 - -26,201 256,806 -190,883 6,263,651 Plant and machinery include the cost of the wind farms and solar plants under operation. THOUSAND EUROS 31 DEC 2021 31 DEC 2020 THOUSAND EUROS BALANCE AT 01 JAN ADDITIONS DISPOSALS/ WRITE-OFF TRANSFERS EXCHANGE DIFFERENCES CHANGES IN PERIMETER/ OTHER BALANCE AT 31 DEC BALANCE AT 01 JAN CHARGE FOR THE PERIOD IMPAIRMENT LOSSES/ REVERSES DISPOSALS/ WRITE-OFF EXCHANGE DIFFERENCES CHANGES IN PERIMETER / OTHER BALANCE AT 31 DEC

73 Additions include the investment in wind farms and solar plants under development and construction mainly in the United States, Poland, Brazil, Spain, Italy, Portugal, Mexico, France, Canada, Colombia and Greece. This caption also includes the allocation of the acquisition cost of certain companies due to the nature of the transactions, the type of assets and the initial stage of completion of the projects acquired (see note 6). The most significant ones, including additions from their acquisition, are: • Greek companies Aioliki Oitis Energiaki Single-Member LLC, Kadmeios Anemos Energiaki, A.E. and Voiotikos Anemos Anonimi Energiaki Etaireia Wind Shape, Ltd. for a total amount of 16,700 thousand Euros. • Italian company C & C Tre Energy S.r.l. in the amount of 10,203 thousand Euros; • Romanian companies Energopark, S.R.L., International Solar Energy, S.R.L., Solar Phoenix, S.R.L. and Beta Wind, S.R.L. for a total amount of 19,548 thousand Euros; • Polish companies Elektrownia Kamienica, Sp. z o.o., Neo Solar Chotków, Sp. z o.o., Neo Solar Przykona II, Sp. z o.o., Farma Fotowoltaiczna Koden, Sp. z o.o. and WF Energy III, Sp. z o.o. for a total amount of 22,919 thousand Euros; • Chilean companies Los Llanos Solar, SpA, Parque Eólico San Andrés, SpA, Parque Eólico Victoria, SpA. and Parque Eólico Punta de Talca, SpA for a total amount of 4,305 thousand Euros. • Hungarian company Nyírség Watt, Kft. in the amount of 2,467 thousand Euros. Transfers from assets under construction into operation refer to wind and solar farms that became operational in the United States, Canada, Portugal, Mexico, Italy, France, Poland, Brazil, Spain and Greece. Write-offs mainly refer to abandonment of projects in Europe. Exchange differences are mainly generated by the variation in the exchange rate of the US Dollar, Mexican Peso and Canadian Dollar. The caption Changes in perimeter/Other mainly includes: • Increase amounting to 134,949 thousand Euros related to the acquisition of a distributed solar generation business in EDPR North America. The effect of the fair value adjustment of the assets, in the amount of 447 thousand Euros, has been included in the caption Additions (see note 6 and 42); • Increase amounting to 21,651 thousand Euros related to the acquisition of the Italian operational company Parco Eolico Aria Del Vento S.R.L. The effect of the fair value adjustment of the assets, in the amount of 13,993 thousand Euros, has been included in the caption Additions (see note 6 and 42); • Increase amounting to 19,724 thousand Euros related to the acquisition of the Vietnamese operational company Trung Son Energy Development LLC and Singaporean companies Trina Solar Investment First Pte. Ltd. and LYS Energy Investment Pte. Ltd.. The effect of the fair value adjustment of the assets, in the amount of 5,631 thousand Euros, has been included in the caption Additions (see note 6 and 42); • Increase amounting to 7,564 thousand Euros related to the acquisition of the UK companies Vento Ludens Ltd and the operational company Muirake Wind Farm Ltd. The effect of the fair value adjustment of the assets, in the amount of 13,201 thousand Euros, has been included in the caption Additions (see note 6 and 42); • Decrease amounting to 558,047 thousand Euros due to the loss of control in the company 2019 Vento XX LLC with a subsequent loss of share interest in companies Lexington Chenoa Wind Farm LLC and Broadlands Wind Farm LLC (see note 6); • Decrease amounting to 372,381 thousand Euros due to the reclassification to held for sale of certain portfolio of European companies; • Decrease amounting to 350,901 thousand Euros due to the sale of the company Indiana Crossroads Wind Farm LLC (see note 6); • Decrease amounting to 268,864 thousand Euros due to the loss of control in the companies Riverstart Development LLC, Riverstart Ventures LLC and subsidiaries (see note 6). • Decrease amounting to 221,082 thousand Euros due to the sale of the companies Eólica do Sincelo, S.A. and Eólica da Linha, S.A. (see note 6).

74 The Company has taken out an insurance global program to cover risks relating to property, plant and equipment. The coverage provided by these policies is considered to be sufficient. Loans with credit institutions formalized as ‘Project Finances’ are secured by the shares of the corresponding wind farms and, ultimately, by the fixed assets of the wind farm to which the financing is related (see note 31). Additionally, the construction of certain assets has been partly financed by grants received from different Government Institutions. The movement in Property, plant and equipment during 2020, is analysed as follows: COST Land and natural resources 31,724 770 -1,369 - -1,608 68 29,585 Buildings and other constructions 15,666 3,537 -250 72 -1,601 1,852 19,276 Plant and machinery 17,406,754 300,260 -80,025 722,866 -1,063,063 -829,485 16,457,307 Other 61,600 3,401 -586 2,527 -3,009 3,629 67,562 Assets under construction 1,446,787 2,012,655 -5 -725,465 -187,822 25,656 2,571,806 18,962,531 2,320,623 -82,235 - -1,257,103 -798,280 19,145,536 ACCUMULATED DEPRECIATION AND IMPAIRMENT LOSSES Buildings and other constructions 11,513 1,501 - -130 -1,148 - 11,736 Plant and machinery 5,567,921 558,837 -275 -78,988 -308,117 -215,406 5,523,972 Assets under construction 76,129 - 623 - -3,771 - 72,981 Other 43,108 4,641 - -535 -2,211 126 45,129 5,698,671 564,979 348 -79,653 -315,247 -215,280 5,653,818 Additions include the investment in wind farms and solar plants under development and construction mainly in the United States, Brazil, Poland and France. This caption also includes the allocation of the acquisition cost of certain companies due to the nature of the transactions, the type of assets and the initial stage of completion of the projects acquired (see note 6). The most significant ones, including additions from their acquisition, are: • Mexican company Parque Solar Los Cuervos, S. de R.L. de C.V. in the amount of 122,379 thousand Euros; • Polish companies Wind Field Wielkopolska, Sp. zo.o, Neo Solar Farm, Sp. z o.o., R.Wind, Sp. z o.o. and FW Warta, Sp. z o.o.for a total amount of 75,725 thousand Euros; • Colombian companies Elipse Energía, S.A.S. E.S.P., Omega Energía, S.A.S. E.S.P. and Kappa Energía, S.A.S. E.S.P. for a total amount of 55,862 thousand Euros; • UK companies Wind 2 Project 1 Limited, Altnabreac Wind Farm Limited, Ben Sca Wind Farm Limited, Moorshield Wind Farm Limited and Drummarnock Wind Farm Limited for a total amount of 55,765 thousand Euros; • Italian companies Energia Emissioni Zero 4, S.r.l., Aliseo, S.r.l., Wind Energy San Giorgio, S.r.l., Giglio, S.r.l. and VRG Wind 153, S.r.l. for a total amount of 29,336 thousand Euros; • French company Vaudrimesnil Energie, S.A.R.L. in the amount of 13,731 thousand Euros; • Greek company Wind Shape, Ltd. in the amount of 5,159 thousand Euros. Transfers from assets under construction into operation mainly refer to wind and solar farms that became operational mainly in the United States, Spain and France. Exchange differences are mainly generated by the variation in the exchange rate of the Brazilian Real, Polish Zloty and US Dollar. THOUSAND EUROS BALANCE AT 01 JAN ADDITIONS DISPOSALS/ WRITE-OFF TRANSFERS EXCHANGE DIFFERENCES CHANGES IN PERIMETER/ OTHER BALANCE AT 31 DEC THOUSAND EUROS BALANCE AT 01 JAN CHARGE FOR THE PERIOD IMPAIRMENT LOSSES/ REVERSES DISPOSALS/ WRITE -OFF EXCHANGE DIFFERENCES CHANGES IN PERIMETER/ OTHER BALANCE AT 31 DEC

75 The caption Changes in perimeter/Other mainly includes: • Increase amounting to 209,736 thousand Euros related to the acquisition of the renewables business of Viesgo. The effect of the fair value adjustment of the assets, in the amount of 214,254 thousand Euros, has been included in the caption Additions (see note 6 and 42). • Decrease due to the sale of the 80% stake and loss of control in the companies EDPR Wind Ventures XVII, LLC and subsidiaries in the amount, net of accumulated depreciation, of 476,964 thousand Euros (see note 6); • Decrease due to the sale of the following Spanish portfolio of companies: Bon Vent de Corbera, S.L.U., Eólica Sierra de Ávila, S.L.U., Parc Eòlic de Torre Madrina, S.L.U., Parc Eòlic de Coll de Moro, S.L.U., Parc Eòlic de Vilalba dels Arcs, S.L.U. and Aprofitament D'Energies Renovables de L'Ebre, S.L. in the amount, net of accumulated depreciation, of 332,602 thousand Euros (see note 6); • Decrease due to the sale of the entire stake in the company Rosewater Wind Farm LLC in the amount, net of accumulated depeciation, of 109,754 thousand Euros (see note 6). Assets under construction as at 31 December 2021 and 2020 are analysed as follows: EDPR NA Group 1,079,633 1,485,274 EDPR EU Group 825,790 712,437 EDPR BR Group 326,667 229,503 Others 188,509 144,592 2,420,599 2,571,806 Assets under construction as at 31 December 2021 are mainly related to wind and solar farms under construction and development in the United States of America, Poland, Brazil, Colombia, Spain, Italy, Mexico, France, UK, Canada, Greece, Romania and Portugal. Financial interests capitalized during the period amount to 32,457 thousand Euros as at 31 December 2021 (31 December 2020: 26,120 thousand Euros) (see note 14). Personnel costs capitalised during the period amount to 47,049 thousand Euros as at 31 December 2021 (31 December 2020: 38,324 thousand Euros) (see note 11). The EDP Renováveis Group has purchase obligations disclosed in Note 38 - Commitments. 17. Righ of use assets This caption is analysed as follows: COST Land and natural resources 721,642 699,214 Buildings and other constructions 35,720 30,246 Plant and machinery: 119 118 Other 5,568 4,150 763,049 733,728 ACCUMULATED DEPRECIATION AND IMPAIRMENT LOSSES Depreciation charge -34,807 -34,311 Accumulated depreciation -59,454 -25,372 -94,261 -59,683 Carrying amount 668,788 674,045 THOUSAND EUROS 31 DEC 2021 31 DEC 2020 THOUSAND EUROS 31 DEC 2021 31 DEC 2020

76 The movements in Right of use assets, for the Group, for the period ended 31 December 2021, are as follows: COST Land and natural resources 699,214 136,690 -210 43,557 -157,609 721,642 Buildings and other constructions 30,246 4,285 -46 1,275 -40 35,720 Plant and machinery: 118 0 0 1 0 119 Other 4,152 1,439 -20 4 -7 5,568 733,730 142,414 -276 44,837 -157,656 763,049 ACCUMULATED DEPRECIATION AND IMPAIRMENT LOSSES Land and natural resources -48,143 -28,225 2 -3,058 3,635 -75,789 Buildings and other constructions -9,348 -5,453 3 -389 19 -15,168 Plant and machinery: -7 -3 0 0 0 -10 Other -2,187 -1,126 20 -1 0 -3,294 -59,685 -34,807 25 -3,448 3,654 -94,261 Cost additions include new lease contracts mainly located in the USA, Portugal, Spain, Brazil, Italy, Mexico, Canada and Greece. New leases are typically signed for a similar period than the useful life of the projects. See note 35 for maturity of lease contracts. Exchange differences are mainly generated by the variation in the exchange rate of the US Dollar. The caption Changes in perimeter/Other mainly includes: • Increase amounting to 4,858 thousand Euros related to the acquisition of a distributed solar generation business in EDPR North America (see note 6); • Decrease amounting to 53,882 thousand Euros due to the loss of control in the company 2019 Vento XX LLC with a subsequent loss of share interest in companies Lexington Chenoa Wind Farm LLC and Broadlands Wind Farm LLC (see note 6). • Decrease amounting to 41,134 thousand Euros due to the sale of the company Indiana Crossroads Wind Farm LLC (see note 6). • Decrease amounting to 36,758 thousand Euros due to the loss of control in the companies Riverstart Development LLC, Riverstart Ventures LLC and subsidiaries (see note 6). • Decrease amounting to 16,884 thousand Euros due to the sale of the companies Eólica do Sincelo, S.A. and Eólica da Linha, S.A. (see note 6). • Decrease amounting to 12,405 thousand Euros due to the reclassification to held for sale of certain portfolio of European companies. THOUSAND EUROS BALANCE AT 01 JAN ADDITIONS DISPOSALS/ WRITE-OFF EXCHANGE DIFFERENCES CHANGES IN PERIMETER/ OTHER BALANCE AT 31 DEC THOUSAND EUROS BALANCE AT 01 JAN ADDITIONS DISPOSALS/ WRITE-OFF EXCHANGE DIFFERENCES CHANGES IN PERIMETER/ OTHER BALANCE AT 31 DEC

77 The movements in Right of use assets, for the Group, for the period ended 31 December 2020, are as follows: COST Land and natural resources 625,386 137,186 -8 -48,206 -15,144 699,214 Buildings and other constructions 17,710 14,915 -281 -1,485 -613 30,246 Plant and machinery: 166 - - -48 - 118 Other 3,196 858 -9 -69 174 4,150 646,458 152,959 -298 -49,808 -15,583 733,728 ACCUMULATED DEPRECIATION AND IMPAIRMENT LOSSES Land and natural resources -25,064 -27,517 1 2,635 1,803 -48,142 Buildings and other constructions -4,353 -5,641 136 330 180 -9,348 Plant and machinery: -5 -4 - 2 - -7 Other -1,072 -1,149 4 24 7 -2,186 -30,494 -34,311 141 2,991 1,990 -59,683 The caption Changes in perimeter/Other mainly includes: • Increase amounting to 15,403 thousand Euros related to the acquisition of the renewables business of Viesgo (see note 6 and 42); Decrease, net of accumulated depreciation, amounting to 29,646 thousand Euros due to the sale of the 80% stake and loss of control in the companies EDPR Wind Ventures XVII, LLC and subsidiaries (see note 6); • Decrease, net of accumulated depreciation, amounting to 8,919 thousand Euros due to the sale of the following Spanish portfolio of companies: Bon Vent de Corbera, S.L.U., Eólica Sierra de Ávila, S.L.U., Parc Eòlic de Torre Madrina, S.L.U., Parc Eòlic de Coll de Moro, S.L.U., Parc Eòlic de Vilalba dels Arcs, S.L.U. and Aprofitament D'Energies Renovables de L'Ebre, S.L (see note 6). THOUSAND EUROS BALANCE AT 01 JAN ADDITIONS DISPOSALS/ WRITE-OFF EXCHANGE DIFFERENCES CHANGES IN PERIMETER/ OTHER BALANCE AT 31 DEC THOUSAND EUROS BALANCE AT 01 JAN ADDITIONS DISPOSALS/ WRITE-OFF EXCHANGE DIFFERENCES CHANGES IN PERIMETER/ OTHER BALANCE AT 31 DEC

78 18. Intangible assets This caption is analysed as follows: COST Industrial property, other rights and other intangible assets 389,883 369,249 Concession Rights 31,494 27,786 Intangible assets under development 44,461 44,199 465,838 441,234 ACCUMULATED AMORTISATION Amortisation charge -18,402 -16,841 Accumulated amortisation in previous years -119,282 -98,207 Impairment losses - - Impairment losses in previous years -11,746 -11,958 -149,430 -127,006 Carrying amount 316,408 314,228 Industrial property, other rights and other intangible assets include: • Generated green certificates pending to be sold amounting to 157,532 thousand Euros (31 December 2020: 148,668 thousand Euros) (see note 2 i)); • Power sales contracts in relation to former asset acquisitions out of the scope of IFRS 3 in the amount of 55,460 thousand Euros (31 December 2020: 51,189) that are amortized over the term of the power sales contracts. The variation is explained by the effect of the exchange rates; • Software, substation access rights and wind generation permits and licenses amounting to 145,134 thousand Euros (31 December 2020: 137,635 thousand Euros). The movement in Intangible assets during 2021, is analysed as follows: COST Industrial property, other rights and other intangible assets 369,249 11,504 - 4,956 6,924 -2,750 389,883 Concession rights 27,786 60 - 6,561 3 -2,916 31,494 Intangible assets under development 44,199 13,346 -392 -15,643 203 2,748 44,461 441,234 24,910 -392 -4,126 7,130 -2,918 465,838 ACCUMULATED AMORTISATION AND IMPAIRMENT LOSSES Industrial property, other rights and other intangible assets 120,304 15,684 - 4,257 - 140,245 Concession Rights 6,702 2,718 - 1 -236 9,185 127,006 18,402 - 4,258 -236 149,430 Additions mainly refer to additional green certificates in the amount of 10,627 thousand Euros. THOUSAND EUROS EUROS 31 DEC 2021 31 DEC 2020 THOUSAND EUROS BALANCE AT 01 JAN ADDITIONS DISPOSALS / WRITE-OFFS TRANSFERS EXCHANGE DIFFERENCES OTHERS BALANCE AT 31 DEC THOUSAND EUROS BALANCE AT 01 JAN ADDITIONS DISPOSALS/ WRITE-OFFS EXCHANGE DIFFERENCES OTHERS BALANCE AT 31 DEC

79 The caption Others mainly includes a decrease amounting to 6,553 thousand Euros related to the sale of the companies Eólica do Sincelo, S.A. and Eólica da Linha, S.A. (see note 6). The movement in Intangible assets during 2020, is analysed as follows: COST Industrial property, other rights and other intangible assets 345,384 719 -14 24,479 -13,783 12,464 369,249 Concession rights 15,182 - - 12,304 -23 323 27,786 Intangible assets under development 44,906 37,006 - -36,783 1 -931 44,199 405,472 37,725 -14 - -13,805 11,856 441,234 ACCUMULATED AMORTISATION AND IMPAIRMENT LOSSES Industrial property, other rights and other intangible assets 110,712 14,681 -14 -4,964 -111 120,304 Concession Rights 4,443 2,160 - -9 108 6,702 115,155 16,841 -14 -4,973 -3 127,006 Additions mainly refer to software license acquisitions during the period. The caption Others mainly includes an increase amounting to 13,340 thousand Euros related to the acquisition of the renewables business of Viesgo (see note 6 and 42). 19. Goodwill For the Group, the breakdown of Goodwill resulting from the difference between the cost of the investments and the corresponding share of the fair value of the net assets acquired, is analysed as follows: Goodwill booked in EDPR EU Group: 578,120 577,547 - EDPR Spain Group 470,784 470,784 - EDPR France Group 25,904 25,904 - EDPR Portugal Group 43,712 43,712 - Other 37,720 37,147 Goodwill booked in EDPR NA Group 686,842 644,499 Goodwill booked in EDPR BR Group 627 620 Others 2,446 - 1,268,035 1,222,666 THOUSAND EUROS BALANCE AT 01 JAN ADDITIONS DISPOSALS/ WRITE-OFFS TRANSFERS EXCHANGE DIFFERENCES OTHERS BALANCE AT 31 DEC THOUSAND EUROS BALANCE AT 01 JAN ADDITIONS DISPOSALS/ WRITE-OFFS EXCHANGE DIFFERENCES OTHERS BALANCE AT 31 DEC THOUSAND EUROS 31 DEC 2021 31 DEC 2020

80 The movements in Goodwill, by subgroup, during 2021 are analysed as follows: EDPR EU Group: - EDPR Spain Group 470,784 - - - - - 470,784 - EDPR France Group 25,904 - - - - - 25,904 - EDPR Portugal Group 43,712 - - - - - 43,712 - Other 37,147 - - - 29 544 37,720 EDPR NA Group 644,499 - - - 52,274 -9,931 686,842 EDPR BR Group 620 - - - 7 - 627 Others - - - - 103 2,343 2,446 1,222,666 - - - 52,413 -7,044 1,268,035 Changes in the perimeter / others refer to: • Increase amounting to 2,343 thousand Euros related to the business combination for the acquisition of the Vietnamese operational company Trung Son Energy Development LLC and Singaporean companies Trina Solar Investment First Pte. Ltd. and LYS Energy Investment Pte. Ltd. (see note 6 and 42); • Increase amounting to 1,575 thousand Euros related to the business combination for the acquisition of the distribution generation business in EDPR NA (see note 6 and 42). • Increase amounting to 544 thousand Euros related to the business combination for the acquisition of the UK companies Vento Ludens Ltd and the operational company Muirake Wind Farm Ltd (see note 6). • Decrease in the amount of 11,506 thousand Euros related to the sale of companies in EDPR NA (see note 6). The movements in Goodwill, by subgroup, during 2020 are analysed as follows: EDPR EU Group: - EDPR Spain Group 388,180 - - -132 - 82,736 470,784 - EDPR France Group 25,904 - - - - - 25,904 - EDPR Portugal Group 43,712 - - - - - 43,712 - Other 37,720 - - - -573 - 37,147 EDPR NA Group 702,818 - - - -58,319 - 644,499 EDPR BR Group 876 - - - -256 - 620 1,199,210 - - -132 -59,148 82,736 1,222,666 Changes in the perimeter / others refer to: • Increase in the amount of 148,341 thousand Euros related with the acquisition of Viesgo’s renewable business (see note 6 and 42) of which an amount of 4,641 thousand Euros refers to associate companies consolidated by the equity method, thus presented in Investments in joint ventures and associates caption (see note 20); • Decrease in the amount of 60,964 thousand Euros related with the sale of the following Spanish portfolio of companies: Bon Vent de Corbera, S.L.U., Eólica Sierra de Ávila, S.L.U., Parc Eòlic de Torre Madrina, S.L.U., Parc Eòlic de Coll de Moro, S.L.U., Parc Eòlic de Vilalba dels Arcs, S.L.U. and Aprofitament D'Energies Renovables de L'Ebre, S.L. (see note 6). THOUSAND EUROS BALANCE AT 01 JAN INCREASES DECREASES IMPAIRMENT EXCHANGE DIFFERENCES CHANGE PERIMETER / OTHERS BALANCE AT 31 DEC THOUSAND EUROS BALANCE AT 01 JAN INCREASES DECREASES IMPAIRMENT EXCHANGE DIFFERENCES CHANGES PERIMETER / OTHERS BALANCE AT 31 DEC

81 Impairment tests - EDPR Group Goodwill, property, plant and equipment, right of use assets, intangible assets and investments in joint ventures and associates of the EDPR Group are tested for impairment each year. In the case of operational wind farms and solar plants, it is performed by determining the recoverable value through the value in use. Goodwill is allocated to each country (CGUs) where EDPR Group performs its activity, so the EDPR Group calculates cash flows in each country in order to determine the recoverable amount of goodwill and the rest of the assets allocated. To perform this analysis, a Discounted Cash Flow (DCF) method was used. This method is based on the principle that the estimated value of an entity or business is defined by its capacity to generate financial resources in the future, assuming these can be removed from the business and distributed among the company’s shareholders, without compromising the maintenance of the activity. Therefore, for the businesses developed by EDPR's CGUs, the valuation was based on free cash flows generated by the business, discounted at appropriate discount rates. The future cash flows projection period used is the useful life of the assets (30 to 35 years) which is consistent with the current depreciation method. The cash flows also incorporate the long-term off-take contract in place and long-term estimates of power prices, whenever the asset holds merchant exposure. The main assumptions used for the impairment tests are as follows: • Power produced: net capacity factors used for each CGU utilize the wind studies carried out, which takes into account the long-term predictability of wind output and that wind generation is supported in nearly all countries by regulatory mechanisms that allow for production and priority dispatching whenever weather conditions permit; Electricity remuneration: regulated or contracted remuneration has been applied where available, as for the CGUs that benefit from regulated remuneration or that have signed contracts to sell their output during all or part of their useful life; where this is not available, prices were derived using price curves projected by the company based on its experience, internal models and using external data references; • New capacity: tests were based on the best information available on the wind and solar farms expected to be built in coming years, adjusted by probability of success and by the growth prospects of the company based on the Business Plan Targets, which includes the commitment to develop under construction wind farms, its historical growth and market size projections. The tests considered the contracted and expected prices to buy turbines from various suppliers; • Operating costs: established contracts for land leases and maintenance agreements were used; other operating costs were projected consistent with the company’s experience and internal models; • Terminal value: considered as a 15% of the initial investment in each wind farm, considering inflation; • Discount rate: the discount rates used are post-tax, reflect EDPR Group’s best estimate of the risks specific to each CGU and range as follows: 2021 2020 Europe 2.9%-5.6% 3.55-6.01% North America 4.6% 4.9%-7.1% Brazil 7.6%-9.3% 8.51%-10.17% Others 4.6%-7.7% 8.24% Impairment tests done have taken into account the regulation changes in each country, as disclosed in note 1. As a result of the impairment tests, it has not been required to book any additional impairment or reverse existing impairments during the year. Further, EDPR has performed the following sensitivity analyses in the results of goodwill impairment tests performed in Europe, North America and Brazil in some of the key variables, such as: • 5% reduction of Merchant Prices used in the base case. This sensitivity analysis performed for this assumption independently would not suppose any impairment for the goodwill allocated to each country; • 100 basis points increase of the discount rate used in the base case. This sensitivity analysis performed for this assumption independently would not suppose any impairment for the goodwill allocated to each country.

82 20. Investments in Joint Ventures and Associates This caption is analysed as follows: INVESTMENTS IN ASSOCIATES Interests in joint ventures 911,196 388,337 Interests in associates 77,326 86,547 Carrying amount 988,522 474,884 For the purpose of the consolidated financial statements presentation, goodwill arising from the acquisition of joint ventures and associated companies is presented in this caption. During 2020, and in the context of the acquisition of the renewable business of Viesgo, there has been an increase of goodwill arising from the acquisition of associated companies in the amount of 4,641 thousand Euros (see note 42). The movement in Investments in joint ventures and associates, is analysed as follows: Balance as at 1 January 474,884 460,185 Changes in the consolidation perimeter - 5,965 Changes in consolidation method 96,204 -18,574 Acquisitions / Increases 371,143 101,664 Disposals -3,960 - Share of profits of joint ventures and associates 41,184 -6,151 Dividends -29,599 -28,197 Exchange differences 35,713 -38,410 Hedging reserve in joint ventures and associates -5,376 -1,633 Others 8,329 35 Balance as at 31 December 988,522 474,884 Changes in the consolidation method refers to: • Increase amounting to 32,763 thousand Euros due to the loss of control in the companies Riverstart Development LLC, Riverstart Ventures LLC and subsidiaries (see note 6); • Increase amounting to 63,441 thousand Euros due to the loss of control in the company 2019 Vento XX LLC with a subsequent loss of share interest in companies Lexington Chenoa Wind Farm LLC and Broadlands Wind Farm LLC (see note 6). Acquisition/ increases mainly include share capital increases in OW Offshore S.L. (Ocean Winds) in the amount of 331,519 thousand Euros. THOUSAND EUROS 31 DEC 2021 31 DEC 2020 THOUSAND EUROS 2021 2020

83 The following table resumes the companies' financial information of joint ventures included in the Group consolidated accounts, as of December 2021: COMPANIES' FINANCIAL INFORMATION OF JOINT VENTURES Non-Current Assets 1,181,672 198,883 313,792 644,157 209,580 525,213 Current Assets 266,754 5,205 1,685 16,121 554 5,453 Cash and cash equivalents 82,639 4,282 870 9,429 -47 -159 Total Equity 707,268 197,721 194,044 215,942 141,812 177,217 Long term Financial debt 50,037 - - - - - Non-Current Liabilities 650,372 4,080 112,157 415,353 65,228 344,720 Short term Financial debt 3,720 - 101 456 98 - Current Liabilities 90,786 2,287 9,276 28,983 3,094 8,729 Revenues 10,040 9,711 10,657 30,600 11,063 34,952 PPE and intangible assets amortisations -4,532 -13,097 -7,372 -15,714 -9,212 -19,352 Other financial expenses -69,164 -53 -3,202 -26,102 -1,708 -14,259 Income tax expense 1,080 - - - - - Net profit for the period 34,813 -14,667 12,931 534,542 9,187 20,545 AMOUNTS PROPORTIONALLY ATTRIBUTED TO EDPR GROUP Net assets 358,986 102,608 84,775 67,457 63,217 57,919 Goodwill 5,352 - - - - Dividends paid - 9,809 4,539 - 3,270 3,885 COMPANIES' FINANCIAL INFORMATION OF JOINT VENTURES Non-Current Assets 477,623 81,368 625 582 33,502 306,237 Current Assets 13,913 1,893 752 227 9,805 3,795 Cash and cash equivalents -86 1,704 752 96 5,778 334 Total Equity 133,497 80,735 685 645 27,620 81,755 Long term Financial debt - - - - - - Non-Current Liabilities 351,971 1,554 - - 10,336 137,777 Short term Financial debt - - - - 3,680 184 Current Liabilities 6,068 972 692 164 5,351 90,500 Revenues 22,019 3,723 - - 8,343 319 PPE and intangible assets amortisations -16,498 -5,117 - - -2,623 - Other financial expenses -17,347 -24 - - -98 -26 Income tax expense - - - - -577 - Net profit for the period 13,463 -6,184 -38 -33 3,686 35,466 AMOUNTS PROPORTIONALLY ATTRIBUTED TO EDPR GROUP Net assets 47,447 40,367 20,925 15,409 16,242 35,844 Goodwill - - - - 2,667 27 Dividends paid 3,118 - - - - - THOUSAND EUROS OW Offshore S.L. and subsidiaries Flat Rock Windpower LLC Goldfinger Ventures II LLC and subsid. 2019 Vento XX LLC and subsid. Goldfinger Ventures LLC and subsid. 2017 Vento XVII LLC and subsid. THOUSAND EUROS 2018 Vento XIX LLC and subsidiaries Flat Rock Windpower II LLC Evoikos Voreas A.E. Sofrano S.A. Evolución 2000 S.L. Others

84 The following table resumes the companies' financial information of joint ventures included in the Group consolidated accounts, as of December 2020: COMPANIES' FINANCIAL INFORMATION OF JOINT VENTURES Non-Current Assets 196,645 296,754 506,707 202,360 449,712 Current Assets 3,021 2,859 4,590 533 11,435 Cash and cash equivalents 1,927 1,044 -126 41 4,569 Total Equity 192,900 162,372 166,781 118,492 120,578 Long term Financial debt - - - - - Non-Current Liabilities 3,714 132,423 338,441 80,810 336,584 Short term Financial debt - 89 - - - Current Liabilities 3,052 4,818 6,075 3,591 3,985 Revenues 7,106 19,068 39,505 10,838 25,448 PPE and intangible assets amortisations - - - - - Other financial expenses -55 -4,664 -29,782 -2,759 -18,485 Income tax expense - - - - - Net profit for the period -19,919 4,102 -1,694 -818 20,055 AMOUNTS PROPORTIONALLY ATTRIBUTED TO EDPR GROUP Net assets 103,315 69,539 53,917 51,794 44,943 Goodwill - - - - - Dividends paid 10,149 6,231 - 3,180 5,477 COMPANIES' FINANCIAL INFORMATION OF JOINT VENTURES Non-Current Assets 80,247 31,945 872,533 841 Current Assets 2,334 2,581 133,404 2,613 Cash and cash equivalents 1,085 589 38,740 343 Total Equity 79,905 19,922 8,790 2,886 Long term Financial debt - 3,679 - - Non-Current Liabilities 1,411 8,750 166,013 541 Short term Financial debt - 4,522 10,611 - Current Liabilities 1,265 5,854 831,854 27 Revenues 2,726 6,743 1,108 - PPE and intangible assets amortisations - - - - Other financial expenses -25 -125 -29,414 - Income tax expense - -657 305 - Net profit for the period -7,996 1,970 -18,096 -3,472 AMOUNTS PROPORTIONALLY ATTRIBUTED TO EDPR GROUP Net assets 39,952 14,431 9,027 1,419 Goodwill - 2,667 5,352 - Dividends paid - - - 1,262 THOUSAND EUROS Flat Rock Windpower LLC Goldfinger Ventures II LLC and subsid. 2017 Vento XVII LLC and subsid. Goldfinger Ventures LLC and subsid. 2018 Vento XIX LLC and subsid. THOUSAND EUROS Flat Rock Windpower II LLC Evolución 2000 S.L. OW Offshore S.L. and Subsidiaries Others

85 The following table resumes the companies' financial information of associates included in the Group consolidated accounts, as of December 2021: COMPANIES' FINANCIAL INFORMATION OF ASSOCIATES Non-Current Assets 6,007 44,104 5,619 7,547 Current Assets 529 24,124 10,010 7,636 Equity -11,931 41,171 6,700 11,367 Non-Current Liabilities 14,496 8,066 1,477 725 Current Liabilities 3,971 18,991 7,452 3,091 Revenues 6,657 16,656 7,343 5,463 Net profit for the period -2,724 7,766 5,982 5,132 AMOUNTS PROPORTIONALLY ATTRIBUTED TO EDPR GROUP Net assets 16,115 17,290 11,680 12,036 Goodwill 1,457 - 683 - Dividends paid - - 1,068 817 COMPANIES' FINANCIAL INFORMATION OF ASSOCIATES Non-Current Assets 2,711 867 17,811 21,681 Current Assets 5,274 167 5,054 9,944 Equity 6,072 -462 9,506 8,124 Non-Current Liabilities 845 995 9,302 17,881 Current Liabilities 1,068 501 4,057 5,620 Revenues 5,804 8,416 3,914 3,115 Net profit for the period 3,171 2,872 1,278 -460 AMOUNTS PROPORTIONALLY ATTRIBUTED TO EDPR GROUP Net assets 9,196 3,481 4,568 2,960 Goodwill 6,479 - 1,726 3,976 Dividends paid 70 1,455 - 1,568 THOUSAND EUROS Eólica São Julião Lda. Parque Eólico Sierra del Madero S.A. Geólica Magallón S.L. San Juan de Bargas Eólica S.L. THOUSAND EUROS Desarrollos Eólicos de Canarias S.A. Eos Pax IIa, S.L. Parque Eólico Belmonte S.A. Other

86 The following table resumes the companies' financial information of associates included in the Group consolidated accounts, as of December 2020: COMPANIES' FINANCIAL INFORMATION OF ASSOCIATES Non-Current Assets 6,145 45,647 6,884 8,740 Current Assets 11,197 14,281 3,698 2,141 Equity 2,780 33,412 4,960 7,973 Non-Current Liabilities 13,504 3,974 1,615 642 Current Liabilities 1,058 22,542 4,007 2,266 Revenues 9,122 9,895 3,903 2,679 Net profit for the period 1,389 2,547 1,038 -340 AMOUNTS PROPORTIONALLY ATTRIBUTED TO EDPR GROUP Net assets 24,031 14,031 11,658 10,939 Goodwill 1,457 - 683 - Dividends paid - 1,470 - - COMPANIES' FINANCIAL INFORMATION OF ASSOCIATES Non-Current Assets 2,690 1,479 18,590 25,946 Current Assets 1,529 1,915 2,033 9,065 Equity 2,616 2,640 8,234 20,501 Non-Current Liabilities 1,035 414 4,790 12,727 Current Liabilities 568 340 7,599 1,783 Revenues 1,788 2,820 4,575 9,108 Net profit for the period 154 493 1,187 -2,794 AMOUNTS PROPORTIONALLY ATTRIBUTED TO EDPR GROUP Net assets 7,641 5,966 4,184 8,097 Goodwill 6,479 - 1,726 3,976 Dividends paid 428 - - - THOUSAND EUROS Eólica São Julião Lda. Parque Eólico Sierra del Madero S.A. Geólica Magallón S.L. San Juan de Bargas Eólica S.L. THOUSAND EUROS Desarrollos Eólicos de Canarias S.A. Eos Pax IIa, S.L. Parque Eólico Belmonte S.A. Other

87 During 2021, the significant companies' financial information of joint ventures and associates presented the following fair value reconciliation of net assets proportionally attributed to EDPR Group: OW Offshore S.L. and subsidiaries 707,268 50.00% - 5,352 - 358,986 Flat Rock Windpower LLC 197,721 50.00% - - 3,747 102,608 Goldfinger Ventures II LLC 194,044 50.00% -12,247 - - 84,775 2019 Vento XX and subsidiaries 215,942 20.00% (1) 24,269 (2) - - 67,457 Goldfinger Ventures LLC and subs. 141,812 50.00% -7,689 - - 63,217 2017 Vento XVII LLC and subs. 177,217 20.00% (1) 22,476 - - 57,919 2018 Vento XIX LLC and subs. 133,497 20.00% (1) 20,748 - - 47,447 Flat Rock Windpower II LLC 80,735 50.00% - - - 40,367 Evoikos Voreas A.E. 685 51.00% (1) 20,575 - - 20,924 Evolución 2000 S.L. 27,620 49.15% (1) - 2,667 - 16,242 Sofrano S.A. 645 51.00% (1) 15,080 - - 15,409 Parque Eólico Sierra del Madero S.A 41,171 42.00% - - - 17,290 Eólica de São Julião, Lda. -11,931 45.00% - 1,457 - 16,115 San Juan de Bargas Eólica, S.L. 11,367 47.01% 6,692 - - 12,036 Geólica Magallón, S.L. 6,700 36.24% 8,569 683 - 11,680 Desarrollos Eólicos de Canarias, S.A 6,072 44.75% - 6,479 - 9,196 Eos Pax IIa, S.L. -462 48.50% 3,705 - - 3,481 Parque Eólico Belmonte, S.A. 9,506 29.90% - 1,726 - 4,568 (1) According to the relevant shareholder agreements, it has been concluded a joint control over the company. (2) Includes the impact of the sale of 12% stake after loss of control. During 2020, the significant companies' financial information of joint ventures and associates presents the following fair value reconciliation of net assets proportionally attributed to EDPR Group: Flat Rock Windpower LLC 192,900 50.00% - - 6,865 103,315 2018 Vento XIX LLC and subs. 120,578 20.00% (1) 21,881 -1,053 44,943 Flat Rock Windpower II LLC 79,905 50.00% - - - 39,952 2017 Vento XVII LLC and subs. 166,781 20.00% (1) 20,561 - - 53,917 Evolución 2000, S.L. 19,922 49.15% (1) - 2,667 1,972 14,431 Goldfinger Ventures II LLC 162,372 50.00% -11,647 - - 69,539 OW Offshore S.L. and subsidiaries 8,790 50.00% - 5,352 -720 9,027 Goldfinger Ventures LLC 118,492 50.00% -7,452 - - 51,794 Eólica de São Julião, Lda. 2,780 45.00% 21,321 1,457 - 24,031 Parque Eólico Sierra del Madero S.A 33,412 42.00% - 14,031 Geólica Magallón, S.L. 4,960 36.24% 9,177 683 - 11,658 San Juan de Bargas Eólica, S.L. 7,973 47.01% 7,190 - 10,939 Desarrollos Eólicos Canarias, S.A. 2,616 44.75% - 6,479 -9 7,641 Eos Pax IIa, S.L. 2,640 48.50% 4,298 - 388 5,966 Parque Eólico Belmonte S.A. 8,234 29.90% - 1,726 -4 4,184 (1) According to the relevant shareholder agreements, it has been concluded a joint control over the company. THOUSAND EUROS EQUITY % INVESTMENT FAIR VALUE ADJUSTMENTS GOODWILL OTHERS NET ASSETS THOUSAND EUROS EQUITY % INVESTMENT FAIR VALUE ADJUSTMENTS GOODWILL OTHERS NET ASSETS

88 EDPR commitments to provide funding to Joint Ventures as at 31 December 2021 are: 2021 CAPITAL OUTSTANDING BY MATURITY THOUSAND EUROS TOTAL LESS THAN 1 YEAR FROM 1 TO 3 YEARS FROM 3 TO 5 YEARS MORE THAN 5 YEARS EDPR Commitments to provide funding to Joint Ventures 384,621 384,621 - - - 384,621 384,621 - - - EDPR commitments to provide funding to Joint Ventures as at 31 December 2020 are: 2020 CAPITAL OUTSTANDING BY MATURITY THOUSAND EUROS TOTAL LESS THAN 1 YEAR FROM 1 TO 3 YEARS FROM 3 TO 5 YEARS MORE THAN 5 YEARS EDPR Commitments to provide funding to Joint Ventures 305,000 305,000 - - - 305,000 305,000 - - - EDPR Commitments to provide funding for Joint Ventures in 2021 and 2020 refer to funds agreed to be provided to Ocean Winds for financing the offshore business. EDPR Group granted parent company guarantees for certain joint venture projects. Total guarantees granted refer to financial and operational guarantees granted by EDPR to joint ventures in the amount of 17,795 thousand Euros and 267,200 thousand Euros respectively. Further, EDP Energías de Portugal Sucursal en España has granted financial and operational guarantees to EDPR’s joint ventures in the amount of 261,187 thousand Euros and 11,037 thousand Euros respectively. 21. Deferred tax assets and liabilities EDP Renováveis Group records the tax effect resulting from temporary differences between the assets and liabilities determined on an accounting basis and on a tax basis. As at 31 December 2021, on a consolidated basis, the movement by nature of Net Deferred Tax Assets and Liabilities are as follows: NET DEFERRED TAX ASSETS THOUSAND EUROS BALANCE AT 31.12.2020 MOV. RESULTS MOV. RESERVES PERIMETER VARIATIONS, EXCHANGE DIFFERENCES AND OTHERS BALANCE AT 31.12.2021 Tax losses and tax credits 618,024 91,431 294 53,164 762,913 Provisions 10,640 6,805 -4 5,879 23,320 Financial instruments 12,195 -123,565 244,193 437 133,260 Property plant and equipment 64,795 4,954 -839 -803 68,107 Non-deductible financial expenses 34,530 -3,683 - -14,989 15,858 Other temporary differences 40,397 -6,428 -40 2,879 36,808 Assets/liabilities compensation of deferred taxes -658,413 15,289 -178 -65,161 -708,463 122,168 -15,197 243,426 -18,594 331,803

89 NET DEFERRED TAX LIABILITIES THOUSAND EUROS BALANCE AT 31.12.2020 MOV. RESULTS MOV. RESERVES PERIMETER VARIATIONS, EXCHANGE DIFFERENCES AND OTHERS BALANCE AT 31.12.2021 Financial instruments 10,943 -3,587 -5,371 134 2,119 Property plant and equipment 284,601 -6,128 -2,232 26,143 302,384 Allocation of fair value to assets and liabilities acquired 433,443 7,568 2,406 17,957 461,374 Income from institutional partnerships (North America) 343,468 11,048 58 28,658 383,232 Other temporary differences 22,104 2,492 520 -401 24,715 Assets/liabilities compensation of deferred taxes -667,457 13,044 1,636 -66,483 -719,260 427,102 24,437 -2,983 6,008 454,564 The compensation between deferred tax assets and liabilities is performed at each subsidiary, and therefore the consolidated financial statements reflect the total deferred tax assets and deferred tax liabilities of the Group's subsidiaries. As at 31 December 2020, on a consolidated basis, the movement by nature of Net Deferred Tax Assets and Liabilities are as follows: NET DEFERRED TAX ASSETS THOUSAND EUROS BALANCE AT 31.12.2019 MOV. RESULTS MOV. RESERVES PERIMETER VARIATIONS, EXCHANGE DIFFERENCES AND OTHERS BALANCE AT 31.12.2020 Tax losses and tax credits 701,336 -24,006 - -59,306 618,024 Provisions 11,538 432 - -1,330 10,640 Financial instruments 14,305 194 350 -2,654 12,195 Property plant and equipment 52,232 11,000 831 732 64,795 Non-deductible financial expenses 35,502 -331 - -641 34,530 Other temporary differences 40,605 -1,230 3,795 -2,773 40,397 Assets/liabilities compensation of deferred taxes -729,346 -10,019 -975 81,927 -658,413 126,172 -23,960 4,001 15,955 122,168 NET DEFERRED TAX LIABILITIES THOUSAND EUROS BALANCE AT 31.12.2019 MOV. RESULTS MOV. RESERVES PERIMETER VARIATIONS, EXCHANGE DIFFERENCES AND OTHERS BALANCE AT 31.12.2020 Financial instruments 6,119 3,661 1,623 -460 10,943 Property plant and equipment 323,362 2,786 - -41,547 284,601 Allocation of fair value to assets and liabilities acquired 384,082 8,960 - 40,401 433,443 Income from institutional partnerships (North America) 348,976 23,930 53 -29,491 343,468 Other temporary differences 26,870 -5,306 -923 1,463 22,104 Assets/liabilities compensation of deferred taxes -733,925 -12,370 267 78,571 -667,457 355,484 21,661 1,020 48,937 427,102

90 The Group tax losses carried forward are analysed as follows: EXPIRATION DATE 2021 - 41,339 2022 1,344 11,692 2023 10,430 23,438 2024 22,753 32,270 2025 7,049 18,867 2026 20,943 10,787 2027 7,007 5,339 2028 to 2044 1,784,292 2,034,152 Without expiration date 726,232 384,497 2,580,050 2,562,381 In addition to the above, EDPR North America LLC has State tax losses that are recorded in the Group's accounts. The associated deferred tax asset raised to 69,232 thousand Euros as at 31 December 2021 (70,910 thousand Euros as at 31 December 2020). Of the total tax losses available to carry forward as at 31 December 2021, an amount of 210,424 thousand Euros does not have an associated deferred tax asset, in accordance with the applicable accounting standards since, at the present date, there is still not sufficient visibility about the future period in which such tax losses will be used. 22. Inventories This caption is analysed as follows: Advances on account of purchases 4,892 8,328 Finished and intermediate products 11,215 8,874 Raw and subsidiary materials and consumables 46,167 37,326 62,274 54,528 THOUSAND EUROS 31 DEC 2021 31 DEC 2020 THOUSAND EUROS 31 DEC 2021 31 DEC 2020

91 23. Debtors and other assets from commercial activities Debtors and other assets from commercial activities are analysed as follows: DEBTORS AND OTHER ASSETS FROM COMMERCIAL ACTIVITIES - NON-CURRENT Trade receivables 617 600 Deferred costs 20,621 20,157 Sundry debtors and other operations 11,685 2,291 32,923 23,048 DEBTORS AND OTHER ASSETS FROM COMMERCIAL ACTIVITIES - CURRENT Trade receivables 364,676 200,425 Services rendered 29,349 12,252 Advances to suppliers 4,845 5,363 Deferred costs 48,062 26,488 Sundry debtors and other operations 19,037 12,723 465,969 257,251 Impairment losses -658 -1,265 498,234 279,034 The increase in sundry debtors and other operations – non current is mainly explained by the acquisition of the distribution generation business in EDPR NA (see note 6) in the amount of 8,999 thousand Euros. The amount of trade receivables - current as at 31 December 2021 principally refers to EDPR EU in the amount of 228,481 thousand Euros (101,919 thousand Euros as at 31 December 2020) and to EDPR NA in the amount of 115,725 thousand Euros (83,107 thousand Euros as at 31 December 2020), which mainly includes electricity generation invoicing. The significant increase is mainly explained by the evolution of the energy pool prices. The caption of Debtors and other assets from commercial activities – Current includes 658 thousand Euros, which is the result of impairment losses under the expected credit loss model recommended in IFRS 9. The credit risk analysis are disclosed in note 5, under the Counterparty credit risk management section. The fair values and carrying amounts of current debtors and other assets do not differ significantly. 24. Other debtors and other assets Other debtors and other assets are analysed as follows: OTHER DEBTORS AND OTHER ASSETS - NON-CURRENT Loans to related parties 172,906 6,688 Derivative financial instruments 51,013 28,412 Sundry debtors and other operations 547,496 237,753 771,415 272,853 OTHER DEBTORS AND OTHER ASSETS - CURRENT Loans to related parties 91,498 409,453 Derivative financial instruments 60,868 82,428 Sundry debtors and other operations 622,944 93,175 775,310 585,056 1,546,725 857,909 THOUSAND EUROS 31 DEC 2021 31 DEC 2020 THOUSAND EUROS 31 DEC 2021 31 DEC 2020

92 Sundry debtors and other operations- non current mainly include: • 350,359 thousand Euros to be received in the long-term in accordance with the relevant agreements related to the sale transaction in 2020 of the entire stake in the company Rosewater Wind Farm LLC and the sale transaction in 2021 of the company Indiana Crossroads Wind Farm LLC (see note 6, 9 and 34); • fair value of the variable price in connection with the sale in 2020 and 2018 of 29,5% and 13,5% stake of the French companies Éoliennes en Mer Dieppe - Le Tréport, S.A.S and Éoliennes en Mer Îles d'Yeu et de Noirmoutier, SAS to OW Offshore S.L. and Sumitomo Corporation respectively, in accordance with the relevant agreements signed, that amounts to 77,440 thousand Euros and 28,853 thousand Euros (69,557 thousand Euros and 27,031 thousand Euros as at 31 December 2020); • fair value of the variable price in the amount of 35,866 thousand Euros in connection with the sale in 2020 of the stake in the company Mayflower Wind Energy LLC in the context of the sale of the offsore business to OW Offshore S.L.; • 36,170 thousand Euros (29,515 thousand Euros as at 31 December 2020) mainly related to Interconnection and transmission deposits in EDPR NA; • 13,056 thousand Euros (the same amount as at 31 December 2020) as part of the price adjustment, according to the corresponding agreements, in the transaction of selling 49% of EDP Renováveis Portugal S.A to CTG that took place in 2013. Loans to related parties mainly include loans granted to Ocean Winds in the amount of 172,095 thousand Euros in the long- term with maturity in 2029 and 26,118 thousand Euros in the short-term, in the context of the agreement with ENGIE on January 2020 to establish a co-controlled 50/50 joint venture, OW Offshore S.L., to jointly develop fixed and floating offshore wind business (398,262 thousand Euros in the short-term and 5,815 thousand Euros in the long-term as at 31 December 2020). These loans bear interest at market rates, which are made of a reference rate indexed to Euribor in its majority, plus a market spread. At 31 December 2021 the caption Sundry debtors and other operations-current mainly includes: • receivable for the proceeds, including shareholder loans, for the sale of the companies Eólica do Sincelo, S.A. and Eólica da Linha, S.A. in the amount of 356,025 thousand Euros (see note 6); • cash collateral held at exchanges where the Group enters into derivative instruments and trades US green certificates in the amount of 161,362 thousand Euros; • estimated corporate income tax due by EDP Energias de Portugal, S.A. Sucursal en España in the amount of 38,611 thousand Euros (11,748 as at 31 December 2020). For derivatives, refer to note 37. 25. Current tax assets Current tax assets is analysed as follows: Income tax 16,964 14,088 Value added tax (VAT) 192,698 120,002 Other taxes 15,134 6,671 224,796 140,761 THOUSAND EUROS 31 DEC 2021 31 DEC 2020

93 26. Cash and cash equivalents Cash and cash equivalents are analysed as follows: Cash 79 5 BANK DEPOSITS Current deposits 540,204 169,367 Term deposits 38,938 55,927 Specific demand deposits in relation to institutional partnerships 231 34,287 579,373 259,581 Other short-term investments 424,332 214,798 1,003,784 474,384 Term deposits include temporary financial investments to place treasury surpluses. Specific demand deposits in relation to institutional partnerships are funds required to be held in escrow sufficient to pay the remaining construction related costs of projects in institutional equity partnerships (see note 33), under the accounting policy 2 x). The governing agreements of these partnerships and specific escrow agreements define the appropriate expenditure of these funds. The caption “Other short-term investments” essentially includes, as at 31 December 2021 and 2020, the debit balance of the current account with EDP Servicios Financieros España S.A. in accordance with the terms and conditions of the contract signed between the parties (see note 39). 27. Assets and liabilities held for sale The criteria for classifying assets and liabilities as held for sale and discontinued operations, as well as their presentation in the EDPR Group’s consolidated financial statements, are presented under accounting policies - note 2 k). This caption is analysed as follows: 31 DEC 2021 31 DEC 2020 THOUSAND EUROS ASSETS HELD FOR SALE LIABILITIES HELD FOR SALE ASSETS HELD FOR SALE LIABILITIES HELD FOR SALE Electricity generation assets – Offshore wind 25,111 - 12,307 111 Electricity generation assets – Onshore wind 470,813 62,487 - - 495,924 62,487 12,307 111 Electricity generation assets – Offshore wind The assets and liabilities, which are associated with Moray West Holdings Limited, remain classified as non-current assets and liabilities held for sale under the sale plan that the EDPR Group has entered into in the past. Electricity generation assets – Onshore wind During 2021, EDPR Group started the process of selling onshore wind portfolios in Europe. Assets and liabilities associated with these portfolios were presented in non-current assets and liabilities held for sale, according to the analysis performed under IFRS 5. THOUSAND EUROS 31 DEC 2021 31 DEC 2020

94 As at 31 December 2021 the following reclassifications were made to held for sale: ASSETS Property, plant and equipment 373,878 - 373,878 Right-of-use assets 12,350 - 12,350 Other assets 75,095 25,111 100,206 Cash and cash equivalents 9,490 - 9,490 Non-Current Assets Held for Sale 470,813 25,111 495,924 LIABILITIES Financial debt - - - Provisions 6,965 - 6,965 Other liabilities 55,522 - 55,522 Non-Current Liabilities Held for Sale 62,487 - 62,487 These reclassifications were made only for financial statement presentation purposes, without impact on the measurement of these assets and liabilities, as it is expected that the fair value less costs to sell is higher than its book value, in accordance with IFRS 5. 28. Share capital and share premium On April 15, 2021, EDPR made a capital increase by issuing 88,250,000 ordinary shares, with a par value of 5 Euros each and a subscription price of 17 Euros per share, with the exclusion of the pre-emptive subscription rights of the Company´s shareholders. The new shares are fungible with EDPR’s other shares and will confer on their holders, as from the date of the respective issue, the same rights as the other shares existing prior to the capital increase. As such, the share capital of EDPR at 31 December 2021 amounts to 4,802,790,810 euros, represented by 960,558,162 shares of 5 euros par value each, all of a single class and series. The shares are in book-entry bearer form, the company is entitled to request the listing of its shares and all the shareholders are registered in the relevant book-entry records. These shares have the same voting and profit-sharing rights and are freely transferable. EDP Renováveis, S.A. shareholder's structure as at 31 December 2021 is analysed as follows: NO. OF SHARES % CAPITAL % VOTING RIGHTS EDP - Energias de Portugal, S.A. Sucursal en España (EDP Branch) 720,191,372 74.98% 74.98% Other (*) 240,366,790 25.02% 25.02% 960,558,162 100.00% 100.00% (*) Shares quoted on the Lisbon stock exchange EDP Renováveis, S.A. shareholder's structure as at 31 December 2020 is analysed as follows: NO. OF SHARES % CAPITAL % VOTING RIGHTS EDP - Energias de Portugal, S.A. Sucursal en España (EDP Branch) 720,191,372 82.56% 82.56% Other (*) 152,116,790 17.44% 17.44% 872,308,162 100.00% 100.00% (*) Shares quoted on the Lisbon stock exchange THOUSAND EUROS Onshore wind Offshore wind Total

95 Movements in Share capital and Share premium during 2021 are as follows: SHARE CAPITAL SHARE PREMIUM Balance as at 1 January 2021 4,361,541 552,035 Movements during the period (net of transaction costs) 441,250 1,046,978 Balance as at 31 Dcember 2021 4,802,791 1,599,013 There were no changes in Share capital and Share premium during 2020. The Share premium is freely distributable. Earnings per share attributable to the shareholders of EDPR are analysed as follows: 31 DEC 2021 31 DEC 2020 Profit attributable to the equity holders of the parent(in thousand Euros) 655,443 555,680 Profit from continuing operations attributable to the equity holders of the parent (in thousand Euros) 655,443 555,680 Weighted average number of ordinary shares outstanding 934,818,579 872,308,162 Weighted average number of diluted ordinary shares outstanding 934,818,579 872,308,162 Earnings per share (basic) attributable to equity holders of the parent (in Euros) 0.70 0.64 Earnings per share (diluted) attributable to equity holders of the parent (in Euros) 0.70 0.64 Earnings per share (basic) from continuing operations attributable to the equity holders of the parent (in Euros) 0.70 0.64 Earnings per share (diluted) from continuing operations attributable to the equity holders of the parent (in Euros) 0.70 0.64 The EDPR Group calculates its basic and diluted earnings per share attributable to equity holders of the parent using the weighted average number of ordinary shares outstanding during the period. The company does not hold any treasury stock as at 31 December 2021 and 2020. The average number of shares was determined as follows: Ordinary shares issued at the beginning of the period 872,308,162 872,308,162 Effect of shares issued during the period 62,510,417 - Average number of realised shares 934,818,579 872,308,162 Average number of shares during the period 934,818,579 872,308,162 Diluted average number of shares during the period 934,818,579 872,308,162 31 DEC 2021 31 DEC 2020

96 29. Other comprehensive income, reserves and retained earnings This caption is analysed as follows: OTHER COMPREHENSIVE INCOME Fair value reserve (cash flow hedge) -754,882 -23,251 Fair value reserve (equity instruments at fair value) 4,146 3,318 Exchange differences - Currency translation arising on consolidation 383,406 344,738 Exchange differences - Net investment hedge -544,039 -569,648 Exchange differences - Net investment hedge - Cost of hedging 711 -166 -910,658 -245,009 OTHER RESERVES AND RETAINED EARNINGS Retained earnings and other reserves 2,344,797 1,986,665 Additional paid in capital 60,666 60,666 Legal reserve 214,829 75,971 2,620,292 2,123,302 1,709,634 1,878,293 Currency translation reserve - Net investment hedge and Cost of hedging The changes in these captions for the year 2021 are as follows: Balance as at 31 December 2020 -569,648 -166 Changes in fair value -148,401 877 Tax effect fair value changes 30,422 - Exchange rate 155,207 - Transfer to income statement resulting from the sale of a foreign subsidiary -15,751 - Others 4,132 - Balance as at 31 december 2021 -544,039 711 The changes in these captions for the year 2020 are as follows: Balance as at 31 December 2019 -535,701 -112 Changes in fair value 187,995 -53 Tax effect fair value changes -46,999 - Exchange rate -180,824 - Others 5,881 - Balance as at 31 december 2020 -569,648 -165 THOUSAND EUROS 31 DEC 2021 31 DEC 2020 THOUSAND EUROS NET INVESTMENT HEDGE COST OF HEDGING THOUSAND EUROS NET INVESTMENT HEDGE COST OF HEDGING

97 Additional paid in capital The accounting for transactions among entities under common control is excluded from IFRS 3. Consequently, in the absence of specific guidance, within IFRSs, the Group EDPR has adopted an accounting policy for such transactions, judged appropriate. According to the Group's policy, business combinations among entities under common control are accounted for in the consolidated financial statements using the book values of the acquired company (subgroup) in the EDPR consolidated financial statements. The difference between the carrying amount of the net assets received and the consideration paid is recognised in equity. Legal reserve The legal reserve has been appropriated in accordance with Article 274 of the Spanish Companies Act whereby companies are obliged to transfer 10% of the profits for the year to a legal reserve until such reserve reaches an amount equal to 20% of the share capital. This reserve is not distributable to shareholders and may only be used to offset losses, if no other reserves are available, or to increase the share capital. Profit distribution (parent company) The EDP Renováveis, S.A. Board of Directors proposal for 2021 profits distribution to be presented in the Annual General Meeting is as follows: BASE FOR DISTRIBUTION Loss for the year 2021 -95,471,089.00 Retained earnings from previous periods 86,450,234.58 DISTRIBUTION Prior years' losses -95,471,089.00 Dividends 86,450,234.58 The EDP Renováveis, S.A. Board of Directors proposal for 2020 profits distribution that was presented in the Annual General Meeting is as follows: BASE FOR DISTRIBUTION Profit for the year 2020 1,388,573,084.60 DISTRIBUTION Legal Reserve 138,857,308.46 Dividends 69,784,652.96 Retained earnings 1,179,931,123.18 Fair value reserve (cash flow hedge) The Fair value reserve (cash flow hedge) comprises the effective portion of the cumulative net change in the fair value of cash flow hedging instruments. EUROS EUROS

98 Fair value reserve (equity instruments at fair value) This reserve includes the cumulative net change in the fair value of equity instruments at fair value as at the balance sheet date: THOUSAND EUROS Balance as at 1 January 2020 6,272 Parque Eólico Montes de las Navas, S.L. -2,954 Balance as at 31 December 2020 3,318 Parque Eólico Montes de las Navas, S.L. 828 Balance as at 31 December 2021 4,146 Exchange differences arising on consolidation This caption reflects the amount arising on the translation of the financial statements of subsidiaries and associated companies from their functional currency into Euros. The most significant exchange rates used in the preparation of the consolidated financial statements are as follows: EXCHANGE RATES AT 31 DECEMBER 2021 EXCHANGE RATES AT 31 DECEMBER 2020 CLOSING RATE AVERAGE RATE CLOSING RATE AVERAGE RATE US Dollar USD 1.133 1.183 1.227 1.142 Zloty PLN 4.599 4.567 4.615 4.444 Brazilian Real BRL 6.310 6.378 6.374 5.889 New Leu RON 4.948 4.921 4.869 4.837 Pound Sterling GBP 0.840 0.860 0.899 0.890 Canadian Dollar CAD 1.439 1.483 1.563 1.530 Mexican Peso MXN 23.28 23.99 24.35 24.51 Colombian Peso COP 4,527 4,426 4,191 4,215 Hungarian Forint HUF 369.2 358.5 363.9 351.2 Vietnamese Dong VND 25,852 27,079 28,309 26,605 30. Non-controlling interests This caption is analysed as follows: Non-controlling interests in income statement 154,135 127,171 Non-controlling interests in share capital and reserves 1,253,891 1,149,111 1,408,026 1,276,282 Non-controlling interests, by subgroup, are analysed as follows: EDPR NA Group 886,475 821,118 EDPR EU Group 461,283 399,419 EDPR BR Group 58,524 55,745 Other 1,744 - 1,408,026 1,276,282 THOUSAND EUROS 31 DEC 2021 31 DEC 2020 THOUSAND EUROS 31 DEC 2021 31 DEC 2020

99 The amount of 4,039 thousand Euros in the caption EDPR NA Group corresponds to tax equity investors which have already reached the flip date (6,752 thousand Euros as at 31 December 2020). See note 2.X. The movement in non-controlling interests of EDP Renováveis Group is mainly related to: Balance as at 1 January 1,276,282 1,361,861 Dividends distribution -38,387 -38,231 Net profit for the year 154,135 127,171 Exchange differences arising on consolidation 67,203 -99,195 Acquisitions and sales without change of control 1,020 - Increases/(Decreases) of share capital -69,164 -75,265 Other changes 16,937 -59 Balance as at 31 December 1,408,026 1,276,282 31. Financial debt Financial debt current and Non-current is analysed as follows: FINANCIAL DEBT - NON-CURRENT Bank loans: - EDPR EU Group 114,592 231,156 - EDPR BR Group 330,402 156,014 - EDPR NA Group 368,622 185,288 Loans received from EDP group entities: - EDP Renováveis, S.A. 230,036 303,966 - EDP Renováveis Servicios Financieros, S.L. 2,293,120 2,555,834 Other loans: - EDPR EU Group 16,332 17,363 Total Debt and borrowings - Non-current 3,353,104 3,449,621 Collateral Deposit - Project Finance and others (*) -23,397 -21,544 Total Collateral Deposits - Non-current -23,397 -21,544 FINANCIAL DEBT - CURRENT Bank loans: - EDPR EU Group 46,056 57,508 - EDPR BR Group 11,156 7,788 - EDPR NA Group 45,881 11,877 Loans received from EDP group entities: - EDP Renováveis, S.A. 99,150 117,452 - EDP Renováveis Servicios Financieros, S.L. 439,029 269,181 Other loans: - EDPR EU Group 1,001 1,029 Interest payable 45,572 32,060 Total Debt and borrowings - Current 687,845 496,895 Collateral Deposit - Project Finance and others (*) -25,708 -9,061 Total Collateral Deposits - Current -25,708 -9,061 Total Debt and borrowings – Current and Non-current 4,040,949 3,946,516 Total Debt and borrowings net of collaterals – Current and Non-current 3,991,844 3,915,911 (*) Collateral deposits mainly refer to amounts held in bank accounts to comply with obligations under project finance agreements entered into by certain EDP Renewable subsidiaries. THOUSAND EUROS 31 DEC 2021 31 DEC 2020 THOUSAND EUROS 31 DEC 2021 31 DEC 2020

100 Loans received from EDP Group entities current and non-current as at 31 December 2021 mainly refer to a set of loans granted by EDP Finance BV amounting to 2,652,919 thousand Euros, including accrued interests and deducted of debt origination fees (2,290,156 thousand Euros non-current and 362,763 thousand Euros current) and by EDP Servicios Financieros España S.A. amounting to 445,499 thousand Euros (233,000 thousand Euros non-current and 212,499 thousand Euros current). The bundled average maturity regarding long-term loans is approximately 4 years and bear interest at weighted average fixed market rates of 1.9% for EUR loans and 3.6% for USD loans. The main events regarding financing refers to an increase in the amount of 76,390 thousand Euros related to the acquisition of the Distributed Generation Business in EDPR NA and a decrease in the amount of 165,665 thousand Euros related to the sale of the companies Eólica do Sincelo, S.A. and Eólica da Linha, S.A. (see note 6). Bank loans bear interest at market rates, which are made of a reference rate indexed to Euribor in its majority, plus a market spread. As at 31 December 2021, future debt and borrowings payments and accrued interest by type of loan and currency are analysed as follows: BANK LOANS Euro 31,419 31,096 25,224 11,755 - - 99,494 American Dollar 35,845 18,037 18,551 20,566 21,429 236,241 350,669 Brazilian Real 19,092 10,870 12,860 14,303 14,583 198,039 269,747 Others 25,509 16,472 9,256 10,015 5,022 151,765 218,039 111,865 76,475 65,891 56,639 41,034 586,045 937,949 LOANS RECEIVED FROM EDP GROUP Euro 211,587 233,000 - - - - 444,587 American Dollar 363,683 247,219 460,166 219,632 466,405 896,855 2,653,960 575,270 480,219 460,166 219,632 466,405 896,855 3,098,547 OTHER LOANS Euro 1,005 1,202 1,020 1,031 1,052 12,027 17,337 1,005 1,202 1,020 1,031 1,052 12,027 17,337 Origination fees -295 -703 -313 -613 -516 -10,444 -12,884 687,845 557,193 526,764 276,689 507,975 1,484,483 4,040,949 THOUSAND EUROS 2022 2023 2024 2025 2026 FOLLOWING YEARS TOTAL

101 As at 31 December 2020, future debt and borrowings payments and accrued interest by type of loan and currency are analysed as follows: BANK LOANS Euro 35,168 35,597 34,257 29,220 16,208 55,308 205,758 American Dollar 25,056 11,304 11,546 9,776 12,846 172,338 242,866 Brazilian Real 8,226 15,009 3,657 2,569 3,257 82,914 115,632 Others 9,297 12,964 16,389 19,375 9,858 18,064 85,947 77,747 74,874 65,849 60,940 42,169 328,624 650,203 LOANS RECEIVED FROM EDP GROUP Euro 4 211,587 233,000 - - - 444,591 American Dollar 418,901 301,524 228,180 430,669 202,829 1,258,163 2,840,266 418,905 513,111 461,180 430,669 202,829 1,258,163 3,284,857 OTHER LOANS Euro 1,027 1,005 1,202 1,011 1,031 13,114 18,390 1,027 1,005 1,202 1,011 1,031 13,114 18,390 Origination fees -784 -1,046 -938 -886 -437 -2,843 -6,934 496,895 587,944 527,293 491,734 245,592 1,597,058 3,946,516 The Group has project finance financings that include the usual guarantees on this type of financings, namely the pledge or a promise of pledge of bank accounts and assets of the related projects. As at 31 December 2021, these financings amount to 843,778 thousand Euros (31 December 2020: 643,984 thousand Euros), which are included within the financial debt caption. At 31 December 2021 and 2020, the Group confirms the fulfillment of all the covenants of the Project Finance Portfolio under the Facilities Agreements. Additionally, there are 17,329 thousand Euros of other loans that are guaranteed by EDPR, which are also included within the financial debt caption. The fair value of EDP Renováveis Group's debt is analysed as follows: 31 DEC 2021 31 DEC 2020 THOUSAND EUROS CARRYING VALUE (*) MARKET VALUE CARRYING VALUE (*) MARKET VALUE Financial debt - Non-current 3,353,104 3,354,591 3,449,621 3,506,887 Financial debt - Current 687,845 687,845 496,895 496,895 4,040,949 4,042,436 3,946,516 4,003,782 (*) Net of origination fees The market value of the medium/long-term (non-current) debt and borrowings that bear a fixed interest rate is calculated based on the discounted cash flows at the rates ruling at the balance sheet date. The market value of debt and borrowing that bear a floating interest rate is considered not to differ from its book value as these loans bear interest at a rate indexed to Euribor. The book value of the short-term (current) debt and borrowings is considered to be the market value. THOUSAND EUROS 2021 2022 2023 2024 2025 FOLLOWING YEARS TOTAL

102 32. Provisions Provisions are analysed as follows: Dismantling and decommission provisions 313,594 305,628 Provision for other liabilities and charges 10,565 9,454 Long-term provision for other liabilities and charges 4,249 3,757 Short-term provision for other liabilities and charges 6,316 5,697 Employee benefits 474 222 324,633 315,304 Dismantling and decommission provisions refer to the costs to be incurred for dismantling wind and solar farms and restoring sites and land to their original condition, in accordance with the corresponding accounting policy. The above amount mainly refers to: (i) 163,100 thousand Euros for wind farms and solar plants in North America (31 December 2020: 151,704 thousand Euros); (ii) 146,014 thousand Euros for wind farms and solar plants in Europe (31 December 2020: 149,249 thousand Euros); and (iii) 3,370 thousand Euros for wind farms and solar plants in Brazil (31 December 2020: 4,675 thousand Euros). The variation in the dismantling provision is mainly explained by: • Increase of the responsibility for additional projects in the amount of 47,700 thousand Euros; • Update on the estimated dismantling cost according to an in-deep analysis performed by the EDPR’s technical department as well as update in the discount and inflation rates used for determining the provisions, with a net impact of a decrease in the amount of 29,538 thousand Euros; • Decrease in the amount of 23,248 thousand Euros related to the sale transactions of the year (see note 6); • Increase in the amount of 13,401 thousand Euros related to the effect of the exchange rates variation, and mainly for the US Dollar. There were no significant movements in provisions for other liabilities and charges either in 2021 or in 2020. EDP Renováveis believes that the provisions booked on the consolidated statement of financial position adequately cover the foreseeable obligations described in this note. Therefore, it is not expected that they will give rise to liabilities in addition to those recorded. 33. Institutional partnerships in North America This caption is analysed as follows: Deferred income related to benefits provided 731,573 799,094 Liabilities arising from institutional partnerships in North America 1,528,168 1,134,448 2,259,741 1,933,542 THOUSAND EUROS 31 DEC 2021 31 DEC 2020 THOUSAND EUROS 31 DEC 2021 31 DEC 2020

103 The movements in Institutional partnerships in North America are analysed as follows: Balance at the beginning of the period 1,933,542 2,289,784 Proceeds received from institutional investors 779,825 307,860 Deferred transaction costs -4,431 -3,252 Cash paid to institutional investors -83,230 -55,880 Income (see note 7) -177,205 -201,783 Unwinding (see note 14) 79,023 94,718 Loss of control of companies with institutional partnerships -420,522 -320,944 Exchange differences 168,318 -181,373 Others -15,579 4,412 Balance at the end of the period 2,259,741 1,933,542 The Group has entered in several partnerships with institutional investors in the United States, through limited liability companies operating agreements that apportions the cash flows generated by the wind farms between the investors and the Company and allocates the tax benefits, which include Production Tax Credits (PTC), Investment Tax Credits (ITC) and accelerated depreciation, largely to the investor. Proceeds received from institutional investors mainly refer to proceeds secured and received amounting to 768,534 thousand Euros (908,976 thousand dollars) related to institutional equity financing from Bank of America and JP Morgan, in exchange for an interest in onshore wind and solar projects. In 2021, EDPR NA has lost control over the Vento XX portfolio upon the completion of the sale of 68% of equity shareholding and over the Rivestart portfolio (see note 6), implying a decrease in the amount of 420,522 thousand Euros in the Institutional partnerships liabilities related to these portfolio. During the first quarter of 2020, EDPR NA, secured and received proceeds amounting to 130,055 thousand Euros (148,539 thousand dollars) related to institutional equity financing from JP Morgan, in exchange for an interest in onshore wind projects. Additionally, during the third quarter of 2020, EDPR NA, secured and received proceeds amounting to 177,805 thousand Euros (203,075 thousand dollars) related to institutional equity financing from Bank of America, in exchange for an interest in the 405 MW onshore wind projects. EDPR lost control in 2020 over the Vento XVII portfolio upon the completion of the sale of 80% of equity shareholding (see note 6), implying a decrease in the amount of 320,944 thousand Euros in the Institutional partnerships liabilities related to this portfolio. EDPR NA is providing its tax equity investors with standard corporate guarantees typical of these agreements to indemnify them against costs they may incur as a result of fraud, willful misconduct or a breach of EDPR NA of any operational obligation under the tax equity agreements. THOUSAND EUROS 31 DEC 2021 31 DEC 2020

104 34. Trade and other payables from commercial activities Trade and other payables from commercial activities are analysed as follows: TRADE AND OTHER PAYABLES FROM COMMERCIAL ACTIVITIES - NON-CURRENT Government grants / subsidies for investments in fixed assets 311,203 303,408 Electricity sale contracts - EDPR NA 5,092 6,438 Property, plant and equipment suppliers 189,052 122,349 Other creditors and sundry operations 129,340 6,908 634,687 439,103 TRADE AND OTHER PAYABLES FROM COMMERCIAL ACTIVITIES - CURRENT Suppliers 176,410 66,781 Property, plant and equipment suppliers 1,334,230 1,167,391 Other creditors and sundry operations 178,151 111,938 1,688,791 1,346,110 2,323,478 1,785,213 Government grants for investments in fixed assets are essentially related to grants received by EDPR NA subgroup under the American Recovery and Reinvestment Act promoted by the United States of America Government. At the moment of the EDPR North America acquisition, the contracts signed between this subsidiary and its customers, determined under the terms of the Purchase Price Allocation, were valued through discounted cash flow models and market assumptions at 190,400 thousands of USD, being booked as a non-current liability under Electricity sale contracts - EDPR NA, which is depreciated over the useful life of the contracts under Other income (see note 9). Property plant and equipment suppliers-non current mainly includes success fees payables in the long term for the acquisition of certain projects in the USA for a total amount of 47,481 thousand Euros (31 December 2020: 4,075 thousand Euros), Colombia for a total amount of 40,022 thousand Euros (31 December 2020: 61,658 thousand Euros), UK for a total amount of 34,760 thousand Euros (31 December 2020: 31,647 thousand Euros) and Greece for a total amount of 24,769 thousand Euros (31 December 2020: 1,122 thousand Euros) that, due to the nature of such transactions, the type of assets acquired and the initial stage of completion of the projects, they have been considered asset acquisitions (see note 6). Variation in other creditors and sundry operations – non current is mainly explained by the evolution of the energy pool prices in the Spanish market related to the establishment of the pool boundaries adjustment as a result of the publication of Royal Decree-Law 413/2014 and Order IET/1045/2014. The balance of such concept as at 31 December 2021 amounts to a credit amount of 101,859 thousand Euros of which a credit amount of 81,739 thousand Euros refers to the the current 2020-2022 semi-period, a credit amount of 26,178 thousand Euros refers to the 2017-2019 semi-period and a debit amount of 6,058 thousand Euros refers to the 2014-2016 semi-period. Because of the high electricity prices that are occurring in the Spanish market, considering the market prices until December 2021, the EDPR Group facilities whose commissioning was in the years 2004-2005 will reach net present value equal to zero before the next regulatory semi-period (2023) instead of at the end of the regulatory useful life of the facility. Thus, EDPR Group has stopped recognizing, for these installations, adjustments for deviations from market prices, and derecognized the net accruals (assets & liabilities). The accounting impact as at 31 December 2021, in the amount of 51,354 thousand Euros, has been recorded as an increase under the revenues caption of the consolidated income statement. Variation in suppliers, besides the normal course of the business, is impacted by the acquisition of the distributed generation business in EDPR NA (see note 6) in the amount of 11,243 thousand Euros. Property plant and equipment suppliers -current refer to wind and solar farms in construction mainly in the USA in the amount of 873,189 thousand Euros (968,998 thousand Euros as of December 31, 2020), Poland in the amount of 104,864 thousand Euros (31 December 2020: 65,036 thousand Euros), Mexico in the amount of 60,338 thousand Euros (31 December THOUSAND EUROS 31 DEC 2021 31 DEC 2020

105 2020: 120,758 thousand Euros), Italy in the amount of 43,754 thousand Euros (31 December 2020: 55,265 thousand Euros) and Spain in the amount of 32,016 thousand Euros (31 December 2020: 46,769 thousand Euros). This caption also includes success fees payables for the acquisition of certain projects in the amount of 97,390 thousand Euros (31 December 2020: 60,173 thousand Euros) mainly in Colombia, UK, Greece, Italy and Poland that due to the nature of such transactions, the type of assets acquired and the initial stage of completion of the projects, they have been considered asset acquisitions. The fair values and carrying amounts of current trade and and other payables do not differ significantly. The Company has prepared the below information for Spanish subsidiaries, according to criterion required by the Spanish Accounting and Auditing Institute (ICAC) resolution of 29 January 2017 on disclosures in notes to financial statements of late payments to suppliers in commercial transactions: DAYS Average payment period 42 51 Ratio paid operations 46 56 Ratio of pending operations 23 20 Total payments made 123,843 102,986 Total outstanding payments 23,575 20,206 35. Other liabilities and other payables Other liabilities and other payables are analysed as follows: OTHER LIABILITIES AND OTHER PAYABLES - NON-CURRENT Amount payable for changes in the perimeter 21,200 850 Loans from non-controlling interests 122,964 155,630 Derivative financial instruments 437,620 62,895 Rents due from lease contracts 648,082 633,794 Other creditors and sundry operations 1,352 306 1,231,218 853,475 OTHER LIABILITIES AND OTHER PAYABLES - CURRENT Amount payable for changes in the perimeter 62,589 19,260 Derivative financial instruments 788,580 26,120 Loans from non-controlling interests 39,762 44,651 Rents due from lease contracts 50,445 55,915 Other creditors and sundry operations 26,267 21,703 967,643 167,649 2,198,861 1,021,124 The caption Loans from non-controlling interests Current and Non-Current mainly includes: • Loans granted by ACE Portugal (CTG Group) due to the sale in 2017 of 49% of shareholding in EDPR PT – Parques Eólicos S.A and subsidiaries for a total amount of 25,760 thousand Euros, including accrued interests (29,282 thousand Euros as of 31 December 2020), bearing interest at a fixed rate of 3.75%; • Loans granted by ACE Poland (CTG Group) due to the sale in 2016 of 49% of shareholding in EDP Renewables Polska HoldCo, S.A. and subsidiaries for a total amount of 74,086 thousand Euros including accrued interests (88,950 thousand Euros as at 31 December 2020), bearing interest at a fixed rate of a range between 2.95% and 7.23%; THOUSAND EUROS 31 DEC 2021 31 DEC 2020 THOUSAND EUROS 31 DEC 2021 31 DEC 2020

106 • Loans granted by ACE Italy (CTG Group) due to the sale in 2016 of 49% of shareholding in EDP Renewables Italia, S.r.l. and subsidiaries for a total amount of 43,868 thousand Euros including accrued interests (50,284 thousand Euros as at 31 December 2020), bearing interest at a fixed rate of 4.50%; • Loans granted by CITIC CWEI Renewables (CTG Group) due to the sale in 2013 of 49% of shareholding in EDP Renováveis Portugal, S.A. for a total amount of 13,590 thousand Euros including accrued interests (31 December 2020: 26,462 thousand Euros), bearing interests at a fixed rate of 5.50%. The caption Rents due from lease contracts - Non-Current and Current includes lease liabilities related to IFRS 16. Variation in both captions is as follows: Balance as at 1 January 689,709 618,248 Increases due to new lease contracts 137,858 149,816 Unwinding (note 14) 28,852 29,594 Payment of leases -43,746 -43,555 Exchange differences 43,568 -48,866 Changes in the perimeter and other changes -157,714 -15,528 Balance at the end of the period 698,527 689,709 Increases due to new lease contracts are mainly located in the USA, Portugal, Spain, Brazil, Italy, Mexico, Canada and Greece. Changes in the perimeter and other changes in 2021 mainly refers to: • Increase amounting to 4,858 thousand Euros related to the acquisition of a distributed solar generation business in EDPR North America (see note 6); • Decrease amounting to 55,545 thousand Euros due to the loss of control in the company 2019 Vento XX LLC with a subsequent loss of share interest in companies Lexington Chenoa Wind Farm LLC and Broadlands Wind Farm LLC (see note 6). • Decrease amounting to 41,134 thousand Euros due to the sale of the company Indiana Crossroads Wind Farm LLC (see note 6). • Decrease amounting to 36,758 thousand Euros due to the loss of control in the companies Riverstart Development LLC, Riverstart Ventures LLC and subsidiaries (see note 6). • Decrease amounting to 16,727 thousand Euros due to the sale of the companies Eólica do Sincelo, S.A. and Eólica da Linha, S.A. (see note 6). • Decrease amounting to 12,533 thousand Euros due to the reclassification to held for sale of certain portfolio of European companies. Changes in the perimeter and other changes in 2020 mainly refers to: • Increase in the amount of 15,579 thousand Euros related to the acquisition of the renewable business of Viesgo (see note 6); • Decrease in the amount of 31,433 thousand Euros due to the sale of the 80% stake and loss of control in the companies EDPR Wind Ventures XVII, LLC and subsidiaries (see note 6); • Decrease in the amount of 9,202 thousand Euros due to the sale of the following portfolio of companies: Bon Vent de Corbera, S.L.U., Eólica Sierra de Ávila, S.L.U., Parc Eòlic de Torre Madrina, S.L.U., Parc Eòlic de Coll de Moro, S.L.U., Parc Eòlic de Vilalba dels Arcs, S.L.U. and Aprofitament D'Energies Renovables de L'Ebre, S.L (see note 6). As at 31 December 2021, the nominal value of the rents due from lease contracts is detailed as follows: (i) less than 5 years: 269,122 thousand Euros; (ii) from 5 to 10 years: 251,560 thousand Euros; (iii) from 10 to 15 years: 243,897 thousand Euros; and (iv) more than 15 years: 402,859 thousand Euros. THOUSAND EUROS 31 DEC 2021 31 DEC 2020

107 Amount payable for changes in the perimeter -non current at 31 December 2021 is mainly related to the variable price adjustment in the amount of 20,396 thousand Euros related to the sale of the company Vento XX and subsidiaries (see note 6). Amount payable for changes in the perimeter – current mainly refers to the remaining cost to pay in the amount of 54,326 thousand Euros related to the project Indiana Crossroads Wind Farm LLC. See note 37 for non-current and current derivatives. 36. Current tax liabilities This caption is analysed as follows: Income tax 39,439 16,947 Withholding tax 3,983 1,682 Value added tax (VAT) 91,401 56,027 Other taxes 57,133 35,156 191,956 109,812 37. Derivative financial instruments As of 31 December 2021, the fair value and maturity of derivatives is analysed as follows: ASSETS LIABILITIES UNITS UNTIL 1 YEAR 1 TO 5 YEARS MORE THAN 5 YEARS TOTAL NET INVESTMENT HEDGE Cross currency rate swaps 13,851 -84,028 EUR 890,293 763,447 - 1,653,740 Currency forwards 2,289 -29,004 EUR 976,870 - - 976,870 16,140 -113,032 1,867,163 763,447 - 2,630,610 CASH FLOW HEDGE Power price swaps 11,852 -1,031,455 MWh 9,184 14,712 12,964 36,860 Interest rate swaps 17,561 -17,072 EUR 55,934 154,805 232,786 443,525 Currency forwards 21,917 -727 EUR 483,600 391,643 - 875,243 51,330 -1,049,254 TRADING Power price swaps 24,305 -53,131 MWh 3,086 2,430 908 6,424 Interest rate swaps - -1,085 EUR 675 2,960 9,563 13,198 Cross currency rate swaps 8,125 -1,117 EUR 131,707 136,591 - 268,298 Currency forwards 11,981 -8,581 EUR 1,911,976 7,366 - 1,919,342 44,411 -63,914 111,881 -1,226,200 THOUSAND EUROS 31 DEC 2021 31 DEC 2020 THOUSAND EUROS FAIR VALUE NOTIONAL (THOUSAND UNITS)

108 As of 31 December 2020, the fair value and maturity of derivatives is analysed as follows: ASSETS LIABILITIES UNITS UNTIL 1 YEAR 1 TO 5 YEARS MORE THAN 5 YEARS TOTAL NET INVESTMENT HEDGE Cross currency rate swaps 55,594 -12,566 EUR 718,584 903,784 - 1,622,368 55,594 -12,566 718,584 903,784 - 1,622,368 FAIR VALUE HEDGE Cross currency rate swaps 6,511 -12 EUR 22,865 164,750 - 187,615 6,511 -12 22,865 164,750 - 187,615 CASH FLOW HEDGE Power price swaps 18,963 -41,469 MWh 11,595 15,148 8,236 34,979 Interest rate swaps 2,271 -24,834 EUR 97,089 265,514 80,551 443,154 Currency forwards 14,282 -429 EUR 296,022 20,508 - 316,530 35,516 -66,732 TRADING Power price swaps 8,454 -3,035 MWh 2,708 1,562 - 4,270 Interest rate swaps - -1,705 EUR 639 2,578 10,631 13,848 Cross currency rate swaps 1,893 -421 EUR 81,140 - - 81,140 Currency forwards 2,872 -4,544 EUR 203,985 56,419 - 260,404 13,219 -9,705 110,840 -89,015 The fair value of derivative financial instruments is recorded under Other debtors and other assets (note 24) or Other liabilities and other payables (note 35), if the fair value is positive or negative, respectively. The net investment derivatives are mainly related to the CIRS in USD and EUR with EDP SA as referred in the notes 39 and 40. The net investment derivatives also include CIRS in CAD, RON, BRL and COP with EDP with the purpose of hedging EDP Renováveis Group's operations in Canada, Romania, Brazil and Colombia. Interest rate swaps relate to the project finances and have been formalised to convert variable to fixed interest rates. Cash flow hedge power price swaps are related to the hedging of the sales price. EDPR NA has entered into a power price swap to hedge the variability in the spot market prices received in some of its projects. Additionally, both EDPR NA and EDPR EU have entered in short-term and long-term hedges to hedge the short-term and long-term volatility of certain un- contracted generation of its wind and solar farms. In certain US power markets, EDPR NA is exposed to congestion and line loss risks which typically have a negative impact on the price received for power generated in these markets. To economically hedge these risk exposures, EDPR NA entered into Financial Transmission Rights (“FTR”) and a three year fixed for floating Locational Marginal Price (LMP) swap. The trading derivative financial instruments are derivatives contracted for economic hedging that are not eligible for hedge accounting. Fair value of derivative financial instruments is based on quotes indicated by external entities, which are compared in each date of report to fair values available in common financial information platforms. These entities use discounted cash flows techniques usually accepted and data from public markets. The only exceptions are the CIRS in USD/EUR with EDP SA, which fair values are determined by the Financial Department of EDP, using the same above-mentioned discounted cash flows techniques and data. As such, according to IFRS13 requirements, the fair value of the derivative financial instruments is classified as of level 2 (see note 40) and no changes of level were made during this period. THOUSAND EUROS FAIR VALUE NOTIONAL (THOUSAND UNITS)

109 In 2021, the future undiscounted cash flows of the derivative financial instruments in EDP Group, are as follows: NOTIONAL THOUSAND EUROS UNTIL 1 YEAR 1 TO 5 YEARS MORE THAN 5 YEARS TOTAL NET INVESTMENT HEDGE Cross currency rate swaps -88,515 -14,423 - -102,938 Currency forwards -26,715 - - -26,715 -115,230 -14,423 - -129,653 FAIR VALUE HEDGE Cross currency rate swaps - - - - - - - - CASH FLOW HEDGE Power price swaps -305,767 -329,490 -8,424 -643,681 Interest rate swaps -6,142 -15,495 -7,753 -29,390 Currency forwards 15,867 4,729 - 20,596 -296,042 -340,256 -16,177 -652,475 TRADING Power price swaps 5,587 -6,058 -1,388 -1,859 Interest rate swaps - - - - Cross currency rate swaps -3,557 1,849 - -1,708 Currency forwards 3,087 862 - 3,949 5,117 -3,347 -1,388 382 -406,155 -358,026 -17,565 -781,746 In 2020 the future undiscounted cash flows of the derivative financial instruments in EDP Group, are as follows: NOTIONAL THOUSAND EUROS UNTIL 1 YEAR 1 TO 5 YEARS MORE THAN 5 YEARS TOTAL NET INVESTMENT HEDGE Cross currency rate swaps 10,989 -23,848 - - 12,859 10,989 -23,848 - - 12,859 FAIR VALUE HEDGE Cross currency rate swaps -1,732 2,381 - 649 -1,732 2,381 - 649 CASH FLOW HEDGE Power price swaps 2,940 -2,716 -571 -347 Interest rate swaps -5,143 -8,653 -460 -14,256 Currency forwards 13,617 86 - 13,703 11,414 -11,283 -1,031 -900 TRADING Power price swaps 4,523 206 - 4,729 Interest rate swaps -511 -232 -961 -1,704 Cross currency rate swaps 770 - - 770 Currency forwards -2,391 870 - -1,521 2,391 844 -961 2,274 23,062 -31,906 -1,992 -10,836

110 The changes in the fair value of hedging instruments and risks being hedged are as follows: 31 DEC 2021 31 DEC 2020 CHANGES IN FAIR VALUE CHANGES IN FAIR VALUE THOUSAND EUROS HEDGING INSTRUMENT HEDGED ITEM INSTRUMENT RISK INSTRUMENT RISK Net Investment hedge Cross currency rate swaps Subsidiary accounts in USD, RON, BRL, GBP, CAD and COP -121,686 121,533 187,995 -187,925 Net Investment hedge Currency forward Subsidiary accounts in USD -26,715 - Fair Value hedge Currency forward Subsidiary accounts in PLN -6,499 -6,499 6,313 7,875 Cash-flow hedge Interest rate swap Interest rate 23,052 - -7,294 - Cash-flow hedge Power price swaps Power price -997,097 - -15,283 - Cash-flow hedge Currency forward Exchange rate 7,337 - 19,307 - -1,121,608 115,034 191,038 -180,050 During 2021 and 2020 the following market inputs were considered for the fair value calculation: Cross currency interest rate swaps Fair value indexed to the following interest rates: Euribor 3M, Euribor 6M, Libor 3M, ROBOR 3M, daily brazilian CDI, CAD-BA-CDOR 3M, Wibor 3M, Wibor 6M and CO IBR index; and exchange rates: EUR/BRL, EUR/PLN, EUR/CAD, EUR/GBP, EUR/RON EUR/COP and EUR/USD. Interest rate swaps Fair value indexed to the following interest rates: Euribor 3M, Euribor 6M, Wibor 6M, Libor 3M and CAD-BA-CDOR 3M. Foreign exchange forwards Fair value indexed to the following exchange rates: EUR/USD, EUR/PLN, EUR/GBP, USD/PLN, USD/HUF, EUR/HUF, USD/CAD, EUR/CAD, BRL/CNY, BRL/EUR, BRL/USD , COP/USD and SGD/EUR. Power price swaps Fair value indexed to the price of electricity. The movements in cash flow hedge reserve have been as follows: Balance at the beginning of the year -23,251 -50,903 Fair value changes -740,954 -9,811 Transfers to results 3,329 4,407 Effect of derivatives in the equity consolidated companies -5,375 -1,664 Effect of the sale with loss of control of EDPR subsidiaries 11,369 34,720 Balance at the end of the year -754,882 -23,251 The gains and losses on the financial instruments portfolio booked in the income statement are as follows: Net investment hedge - ineffectiveness -153 -1,492 Cash-flow hedge Transfer to results from hedging of financial liabilities 2,130 1,094 Transfer to results from hedging of commodity prices -5,459 -5,501 Non eligible for hedge accounting derivatives 59,607 17,594 56,125 11,695 INSTRUMENT MARKET INPUT THOUSAND EUROS 31 DEC 2021 31 DEC 2020 THOUSAND EUROS 31 DEC 2021 31 DEC 2020

111 The amount from transfers to results from hedging of commodity prices is registered in Revenues while the remaining gains and losses are registered in Financial income and Financial expense, respectively (see note 14). The effective interest rates for derivative financial instruments associated with financing operations during 2021, were as follows: EDPR GROUP CURRENCY PAYS RECEIVES INTEREST RATE CONTRACTS Interest rate swaps EUR [ 0.26% - 3.67% ] [ 0.55% - 0.58% ] Interest rate swaps PLN [ 2.48% - 2.78% ] [ -0.25% ] Interest rate swaps USD [ 1.08 - 4.14% ] [ -3.5% - -0.09% ] Interest rate swaps CAD [ 2.10% - 2.75% ] [ -0.58% - -0.51% ] CURRENCY AND INTEREST RATE CONTRACTS CIRS (currency interest rate swaps) EUR/USD [ 0.47% - 1.08% ] [ -0.54% - -0.29% ] CIRS (currency interest rate swaps) EUR/CAD [ 0.27% - 0.75% ] [ -0.59% - -0.54% ] CIRS (currency interest rate swaps) EUR/COP [ 3.20% - 3.83% ] [ -0.58% ] CIRS (currency interest rate swaps) EUR/GBP [ 1.25% - 1.36% ] [ 0.00% ] CIRS (currency interest rate swaps) EUR/BRL [ 0.03% - 5.95% ] [ -0.58% - -0.44% ] CIRS (currency interest rate swaps) EUR/RON [ 3.11% ] [ -0.57% ] The effective interest rates for derivative financial instruments associated with financing operations during 2020, were as follows: EDPR GROUP CURRENCY PAYS RECEIVES INTEREST RATE CONTRACTS Interest rate swaps EUR [ 0.26% - 3.67% ] [ 0.52% - 0.54% ] Interest rate swaps PLN [ 2.48% - 2.78% ] [ -0.28% ] Interest rate swaps USD [ 1.86% ] [ -0.22% ] Interest rate swaps CAD [ 2.10% - 2.59% ] [ -0.50% ] CURRENCY AND INTEREST RATE CONTRACTS CIRS (currency interest rate swaps) EUR/USD [ 0.45% - 0.60% ] [ -0.54% ] CIRS (currency interest rate swaps) EUR/CAD [ 0.22% - 0.86% ] [ -0.57% - -0.51% ] CIRS (currency interest rate swaps) EUR/COP [ 1.17% ] [ -0.54% ] CIRS (currency interest rate swaps) EUR/BRL [ 0.69% - 5.95% ] [ -0.54% - -0.44% ] CIRS (currency interest rate swaps) EUR/PLN [ 0.32% - 3.15% ] [ -0.54% - 1.84% ]

112 38. Commitments As at 31 December 2021 and 2020, the financial commitments not included in the statement of financial position in respect of financial and operational guarantees provided, are analysed as follows: GUARANTEES OF OPERATIONAL NATURE EDP Renováveis, S.A. 1,357,766 586,594 EDPR NA Group 919,746 854,336 EDPR EU Group 6,088 2,337 EDPR BR Group 5,180 1,447 Total 2,288,780 1,444,714 The above operating guarantees, which are not included in the consolidated statement of financial position or in the Notes, as at 31 December 2021 and 2020, mainly refer to Power Purchase Agreements (PPA), interconnection, permits and market participation guarantees. The significant variation with respect to 2020 is fully in line with the evolution of the business and increasing activity of the EDPR Group during 2021. Concepts covered by PPA guarantees depends on the status of the project and typically cover related risks of development and construction, correct operation and maintenance of the projects and compliance with payment obligations. These guarantees amount to 867,280 thousand Euros as at 31 December 2021 of which 324,869 thousand Euros refer to guarantees granted by EDP to EDPR companies and 105,897 thousand Euros refer to guarantees granted by EDP and EDPR to Joint Ventures (670,181 thousand Euros as at 31 December 2020, of which 252,282 thousand Euros refer to guarantees granted by EDP to EDPR companies and 58,794 thousand Euros refer to guarantees granted by EDP and EDPR to Joint Ventures). Additionally to the above guarantees, an amount of 13,171 thousand Euros refer to guarantees of operational nature related to the companies Eólica do Sincelo, SA and Eólica da Linha, SA that were sold as at 31 December 2021 (see note 6) although EDPR assumes temporarily the responsibility under such guarantees until these are effectively replaced. Further, an amount of 12,500 thousand Euros refer to guarantees of operational nature related to certain portfolio of European companies that have been reclassified to held for sale (see note 26). Refer to note 39 for guarantees granted by EDP Group companies to EDPR Group companies. Refer to note 20 for guarantees granted by EDP Group and EDPR Group to joint venture companies. There are additional financial and operating guarantees granted by EDPR Group that have underlying liabilities already reflected in its Consolidated Statement of Financial Position and/or disclosed in the Notes. EDPR does not expect any significant liability arising from the above commitments related to financial and operational guarantees provided. The EDPR Group future cash outflows not reflected in the measurement of the lease liabilities and purchase obligations by maturity date are as follows: 31 DEC 2021 CAPITAL OUTSTANDING BY MATURITY THOUSAND EUROS TOTAL UP TO 1 YEAR 1 TO 3 YEARS 3 TO 5 YEARS MORE THAN 5 YEARS Future Cash Outflows not reflected in the measurement of the Lease Liabilities 32,159 4,549 8,228 2,934 16,448 Purchase obligations 4,948,975 3,081,552 1,358,104 101,874 407,445 4,981,134 3,086,101 1,366,332 104,808 423,893 THOUSAND EUROS 31 DEC 2021 31 DEC 2020

113 31 DEC 2020 CAPITAL OUTSTANDING BY MATURITY THOUSAND EUROS TOTAL UP TO 1 YEAR 1 TO 3 YEARS 3 TO 5 YEARS MORE THAN 5 YEARS Future Cash Outflows not reflected in the measurement of the Lease Liabilities 63,596 6,952 11,157 6,429 39,058 Purchase obligations 3,706,644 2,377,806 943,891 67,168 317,779 3,770,240 2,384,758 955,048 73,597 356,837 The significant variation in commitments with respect to 2020 is fully in line with the evolution of the business and increasing activity of the EDPR Group. EDPR Group has adopted IFRS 16 and therefore presents the information related to lease contracts in the caption Right-of- use assets (see note 17). Purchase obligations include debts related with long-term agreements of property, plant and equipment and operational and maintenance contracts product and services supply related to the Group operational activity. When prices are defined under forward contracts, these are used in estimating the amounts of the contractual commitments. Some of the disposal of non-controlling interests transactions retaining control carried out in previous years incorporate contingent assets and liabilities according to the terms of the corresponding agreements. 39. Related parties The Members of the Board of Directors of the Company and its delegated Committees do not own directly or indirectly any shares from EDPR, as of 31 December 2021 or 31 December 2020. According to Article nr 229 of "Ley de Sociedades de Capital" (Spanish Companies Law), the members of the Board of Directors of EDP Renováveis have not communicated, or the parent company has knowledge, of any conflict of interests or incompatibility that could affect the performance of their duties. Remuneration of the members of the Board of Directors and Management Team In accordance with the Company's by-laws, the remuneration of the members of the Board of Directors is proposed by the Appointments, Remunerations and Corporate Governance Committee to the Board of Directors on the basis of the overall amount of remuneration authorized by the General Meeting of Shareholders. The Board of Directors approves the distribution and the exact amount to be paid to each Director on the basis of this proposal. The average number of members of the Board of Directors during 2021 and 2020 is 12 and 15 respectively. The remuneration paid to the members of the Board of Directors in 2021 and 2020 were as follows: CEO - - Board members 729 569 729 569 The above amount refers to salaries, allowances and other remuneration as members of the Board of Directors and their membership/chairmanship of the Delegated Committees. Further, EDPR signed an Executive Management Services Agreement with EDP, under which EDP bears the cost for the services rendered by its Executive and Non-Executive Directors, which are Miguel Stilwell d’Andrade, Rui Teixeira, Miguel Setas , Vera de Morais Pinto Pereira Carneiro and Ana Paula Marques. This corporate governance practice of remuneration is in line with the model adopted by the EDP Group, in which the executive Directors of EDP do not receive any remuneration directly from the group companies on whose governing bodies they serve, but rather through EDP. THOUSAND EUROS 31 DEC 2021 31 DEC 2020

114 Under this contract, EDPR is due to pay an amount to EDP, for the services rendered by the Executive Managers and the Non-executive Managers. The amount due under said Agreement for the management services rendered by EDP in 2021 is 831 thousand Euros (1,095 thousand Euros in 2020), of which 707 thousand Euros refers to the management services rendered by the Executive Members and 124 thousand Euros to the management services rendered by the non-executive Members. This amount includes 34 thousand Euros related to retirement saving plans. The retirement savings plan for the members of the Management Team that are also Officers, acts as an effective retirement supplement with a range between 3% to 6% of their annual salary. The percentage is defined according with the retirement savings plan applicable in their home country. In the case of the COOs/CTO which are members of the Management Team (Duarte Bello, COO EU&LatAm; Spyridon Martinis, CDO&COO Offshore (until November 2021), Bautista Rodríguez, CTO&Business Offshore (from November 2021), Miguel Ángel Prado Balboa, COO NA (until November 2021), Sandhya Ganapathy, COO NA (from December 2021) and Pedro Vasconcelos, COO APAC (from November 2021), the remuneration is as follows: Salaries and other allowances 2,467 Retirement saving plans 37 Life insurance premiums 5 2,509 The above amount includes 63 thousand Euros paid by the EDP Group and not reinvoiced to EDPR Group. The remuneration of the COOs of the Management Team in 2020 amounted to 1,528 thousand Euros. Additionally they received the following non-monetary benefits: retirement savings plan (as described above), company car and Health Insurance in the amount of 268 thousand Euros. Relevant balances and transactions with subsidiaries and associates of China Three Gorges Group Within the context of the transactions with CTG related to the sale of 49% of EDPR Portugal, EDPR PT-PE, EDPR Italia and EDPR Polska equity shareholding to CTG Group, CTG has granted loans to the EDPR Group in the amount of 157,201 thousand Euros including accrued interests (39,734 thousand Euros as current and 117,467 thousand Euros as non-current) as at 31 December 2021. As at 31 December 2020, this balance amounted to 194,978 thousand Euros including accrued interests (43,617 thousand Euros as current and 151,259 thousand Euros as non-current). See note 35. Balances and transactions with EDP Group companies In their ordinary course of business, EDPR Group companies establish commercial transactions and operations with other Group companies, whose terms reflect current market conditions. As at 31 December 2021, assets and liabilities with related parties, are analysed as follows: ASSETS THOUSAND EUROS LOANS AND INTERESTS TO RECEIVE OTHERS TOTAL EDP Energias de Portugal, S.A. - 56,451 56,451 EDP - Energias de Portugal, S.A. Sucursal en España (EDP Branch) - 39,044 39,044 Joint Ventures and Associated companies 209,488 174,458 383,946 EDP Serviço Universal, S.A. - 32,690 32,690 EDP Servicios Financieros España, S.A. - 418,805 418,805 EDP España S.A.U. - 144,975 144,975 Other EDP Group companies - 2,906 2,906 209,488 869,329 1,078,817 THOUSAND EUROS 31 DEC 2021

115 LIABILITIES THOUSAND EUROS LOANS AND INTERESTS TO PAY OTHERS TOTAL EDP Energias de Portugal, S.A. - 576,117 576,117 EDP - Energias de Portugal, S.A. Sucursal en España (EDP Branch) - 13,294 13,294 Joint Ventures and Associated companies - 3,335 3,335 EDP Finance B.V. 2,652,919 27,732 2,680,651 EDP Servicios Financieros España, S.A. 445,499 362 445,861 EDP Global Solutions - 1,429 1,429 Other EDP Group companies - 10,942 10,942 3,098,418 633,211 3,731,629 Assets mainly refer to: • Debit balance of the Euro and US Dollar current accounts with EDP Servicios Financieros España, S.A. (see note 26) amounting to 418,805 thousand Euros as at 31 December 2021 (214,002 thousand Euros as at 31 December 2020); • Loans granted to companies consolidated by the equity method and namely to Ocean Winds in the total amount of 198,213 thousand Euros and variable price related to the sale of the offshore business to Ocean Winds in the amount of 142,216 thousand Euros (see note 24); • Commercial receivables related to the sale of energy in EDPR Portugal and EDPR Spain through EDP Serviço Universal, S.A. (which is a last resort retailer due to regulatory legislation) and EDP España S.A.U. respectively; • Derivatives contracted with EDP Energias de Portugal, S.A. which market value as at 31 December 2021 amounts to 42,851 thousand Euros (see note 37); • Estimated corporate income tax due by EDP Energias de Portugal, S.A. Sucursal en España in the amount of 38,611 thousand Euros (see note 24). Liabilities mainly refer to: • Loans obtained by EDP Renováveis S.A. and by EDP Renováveis Servicios Financieros S.L. from EDP Finance BV in the amount, including interests and deducted from debt origination fees, of 2,652,219 thousand Euros (31 December 2020: 2,832,418 thousand Euros) and from EDP Servicios Financieros España S.A. in the amount of 445,499 thousand Euros (the same amount at 31 December 2020). See note 31; • Derivatives contracted with EDP Energias de Portugal, S.A. which market value as at 31 December 2021 amounts to 513,350 thousand Euros, mainly related to power price derivatives (see note 37). Transactions with related parties for the year ended 31 December 2021 are analysed as follows: EDP Energias de Portugal, S.A. 550 36,636 -173,987 -55,616 EDP Energias de Portugal, S.A. Sucursal en España (EDP Branch) - - -29,850 -1,289 Joint Ventures and Associated companies 37,889 7,599 -24,861 -9 EDP Serviço Universal, S.A. 259,593 - -130 - EDP Comercializadora, S.A.U,. 15 - - - EDP Finance B.V. - - - -95,513 EDP Servicios Financieros España, S.A. 3 - -13,980 EDP España S.A.U. 457,638 - -4,603 -256 EDP Clientes S.A. 719 - -540 - Other EDP Group companies 8,175 - -11,788 - 764,579 44,238 -245,759 -166,663 THOUSAND EUROS OPERATING INCOME FINANCIAL INCOME OPERATING EXPENSES FINANCIAL EXPENSES

116 Operating income mainly includes electricity sales to EDP Serviço Universal, S.A. which is a supplier of last resource in Portugal due to regulatory legislation and to EDP España S.A.U. as the commercial agent in Spain. Transactions with EDP Energias de Portugal, S.A. are mainly related to derivative financial instruments. Financial expenses with EDP Finance B.V. and EDP Servicios Financieros España S.A., are related interests on the loans granted to EDP Renováveis S.A. and EDP Renováveis Servicios Financieros, S.A. referred above. As at 31 December 2020, assets and liabilities with related parties, are analysed as follows: ASSETS THOUSAND EUROS LOANS AND INTERESTS TO RECEIVE OTHERS TOTAL EDP Energias de Portugal, S.A. - 69,234 69,234 EDP - Energias de Portugal, S.A. Sucursal en España (EDP Branch) - 8,175 8,175 Joint Ventures and Associated companies 415,940 75,478 491,418 EDP Serviço Universal, S.A. - 24,218 24,218 EDP Servicios Financieros España, S.A. - 214,002 214,002 EDP España S.A.U. - 21,640 21,640 Other EDP Group companies - 40,871 40,871 415,940 453,618 869,558 LIABILITIES THOUSAND EUROS LOANS AND INTERESTS TO PAY OTHERS TOTAL EDP Energias de Portugal, S.A. - 32,101 32,101 EDP - Energias de Portugal, S.A. Sucursal en España (EDP Branch) - 8,109 8,109 Joint Ventures and Associated companies - 2,603 2,603 EDP Finance B.V. 2,832,418 596 2,833,014 EDP Servicios Financieros España, S.A. 445,499 92 445,591 EDP Global Solutions - 23,817 23,817 Other EDP Group companies - 3,946 3,946 3,277,917 71,264 3,349,181 Transactions with related parties for the year ended 31 December 2020 are analysed as follows: EDP Energias de Portugal, S.A. 36,279 20,626 -2,108 -32,347 EDP Energias de Portugal, S.A. Sucursal en España (EDP Branch) 1,600 - -19,746 -881 Joint Ventures and Associated companies 240,095 6,954 -4,600 -31,378 EDP Serviço Universal, S.A. 226,573 - -26 - EDP Comercializadora, S.A.U,. 42,513 - -372 - EDP Finance B.V. - - - -108,538 EDP Servicios Financieros España, S.A. - 649 - -17,076 EDP España S.A.U. 58,963 - -796 -495 EDP Clientes S.A. 37,824 - -1,966 - Other EDP Group companies 220 - -5,366 - 644,067 28,229 -34,980 -190,715 THOUSAND EUROS OPERATING INCOME FINANCIAL INCOME OPERATING EXPENSES FINANCIAL EXPENSES

117 As part of its operational activities, the EDP Renováveis Group must present guarantees in favor of certain suppliers and in connection with renewable energy contracts. As at 31 December 2021, EDP España and EDP Energías de Portugal Sucursal en España granted operational guarantees to suppliers in favor of EDP Renováveis S.A. and EDPR NA in the amount of 520,475 thousand Euros (356,919 thousand Euros as at 31 December 2020). The operational guarantees are issued following the commitments assumed by EDPR EU and EDPR NA in relation to Power Purchase Agreements (PPA), interconnection, permits and market participation. Refer to note 20 for guarantees granted by EDP Group and EDPR Group to joint venture companies. 40. Fair value of financial assets and liabilities Fair value of financial instruments is based, whenever available, on quoted market prices. Otherwise, fair value is determined through internal models, which are based on generally accepted cash flow discounting techniques and option valuation models or through quotations supplied by third parties. Non-standard instruments may require alternative techniques, which consider their characteristics and the generally accepted market practices applicable to such instruments. These models are developed considering the market variables that affect the underlying instrument, namely yield curves, exchange rates and volatility factors. Market data is obtained from generally accepted suppliers of financial data (Bloomberg and Reuters). As at 31 December 2021 and 2020, the following table presents the interest rate curves of the major currencies to which the Group is exposed. These interest rates were used as the base for the fair value calculations made through internal models referred above: 31 DEC 2021 31 DEC 2020 CURRENCIES CURRENCIES EUR USD EUR USD 3 months -0.57% 0.21% -0.55% 0.24% 6 months -0.55% 0.38% -0.53% 0.16% 9 months -0.49% 0.42% -0.52% 0.17% 1 year -0.50% 0.58% -0.52% 0.21% 2 years -0.29% 0.91% -0.52% 0.20% 3 years -0.14% 1.14% -0.51% 0.24% 5 years 0.02% 1.33% -0.49% 0.33% 7 years 0.13% 1.44% -0.39% 0.66% 10 years 0.30% 1.54% -0.26% 0.93% Non-listed equity instruments, for which a reliable and consistent fair value estimate is not available either by internal models or external providers, are recognized at their historical cost. Equity instruments at fair value and financial assets at fair value through profit or loss Listed financial instruments are recognized at fair value based on market prices. The financial instruments for which reliable fair value estimates are not available, are recorded in the statement of financial position at their cost. Cash and cash equivalents, trade receivables and suppliers These financial instruments include mainly short-term financial assets and liabilities. Given their short-term nature at the reporting date, their book values are not significantly different from their fair values.

118 Financial debt The fair value of the financial debt is estimated through internal models, which are based on generally accepted cash flow discounting techniques. At the reporting date, the carrying amount of floating rate loans is approximately their fair value. In case of fixed rate loans, mainly the intercompany loans granted by EDP Group, their fair value is obtained through internal models based on generally accepted discounting techniques. Derivative financial instruments All derivatives are accounted at their fair value. For those which are quoted in organized markets, the respective market price is used. For over-the-counter derivatives, fair value is estimated through the use of internal models based on cash flow discounting techniques and option valuation models generally accepted by the market, or by dealer price quotations. CIRS with EDP - Energias de Portugal, S.A. (note 37) With the purpose of hedging the foreign exchange risk resulting from the net investment in EDPR NA, the Group entered into CIRS in USD and EUR with EDP - Energias de Portugal, S.A.. These financial derivatives are presented in the statement of financial position at its fair value, which is estimated by discounting the projected USD and EUR cash flows. The discount rates and forward interest rates were based on the interest rate curves referred to above and the USD/EUR exchange rate is disclosed on note 29. See also note 35. The fair values of assets and liabilities as at 31 December 2021 and 31 December 2020 are analysed as follows: 31 DECEMBER 2021 31 DECEMBER 2020 THOUSAND EUROS CARRYING AMOUNT FAIR VALUE DIFFERENCE CARRYING AMOUNT FAIR VALUE DIFFERENCE FINANCIAL ASSETS Equity instruments at fair value 14,878 14,878 - 13,318 13,318 - Debtors and other assets from commercial activities 498,234 498,234 - 279,034 279,034 - Other debtors and other assets 1,546,725 1,546,725 - 857,909 857,909 - Derivative financial instruments 111,881 111,881 - 110,840 110,840 - Cash and cash equivalents 1,003,784 1,003,784 - 474,384 474,384 - 3,175,502 3,175,502 - 1,735,485 1,735,485 - FINANCIAL LIABILITIES Financial debt 4,040,949 4,042,432 1,483 3,946,516 4,003,782 57,266 Suppliers 1,699,692 1,699,692 - 1,356,521 1,356,521 - Institutional partnerships in North America 2,259,741 2,259,741 - 1,933,542 1,933,542 - Trade and other payables from commercial activities 623,786 623,786 - 428,692 428,692 - Other liabilities and other payables 2,198,861 2,198,861 - 1,021,124 1,021,124 - Derivative financial instruments 1,226,200 1,226,200 - 89,015 89,015 - 12,049,229 12,050,712 1,483 8,775,410 8,832,676 57,266 The fair value levels used to valuate EDP Renováveis Group financial assets and liabilities are defined as follows: • level 1 - Quoted prices (unadjusted) in active market for identical assets and liabilities • level 2 - Inputs other than quoted prices included within Level 1 that are observable for assets or liabilities, either directly (i.e. as prices) or indirectly (i.e., derived from prices) • level 3 - Inputs for assets or liabilities that are not based on observable market data (unobservable inputs).

119 31 DECEMBER 2021 31 DECEMBER 2020 THOUSAND EUROS LEVEL 1 LEVEL 2 LEVEL 3 LEVEL 1 LEVEL 2 LEVEL 3 FINANCIAL ASSETS Equity instruments at fair value - - 14,878 - - 13,318 Derivative financial instruments - 107,137 4,744 - 110,840 - - 107,137 19,622 - 110,840 13,318 FINANCIAL LIABILITIES Liabilities arising from options with non-controlling interests - - 883 - - 883 Derivative financial instruments - 1,017,888 208,312 - 89,015 - - 1,017,888 209,195 - 89,015 883 The remaining assets and liabilities are valuated within Level 1 or correspond to assets and liabilities which fair value is the same as its carrying amount. In 2021, there are no transfers between levels. The movement in 2021 and 2020 of the financial assets and liabilities within Level 3 are analysed was as follows: Derivatives Equity Instruments At Fair Value Trade And Other Payables THOUSAND EUROS 31 Dec 2021 31 Dec 2020 31 Dec 2021 31 Dec 2020 31 Dec 2021 31 Dec 2020 Balance at the beginning of the year - - 13,318 15,960 883 883 Gains / (Losses) in other comprehensive income - - - -3,194 - - Increases/Purchases 193,434 - 964 1,218 - - Disposals - - - - - - Others - - 596 -666 - - Balance at the end of the year 193,434 - 14,878 13,318 883 883 The Trade and other payables within level 3 are related to Liabilities with non-controlling interests. The movements in 2021 and 2020 of the derivative financial instruments are presented in note 37. 41. Relevant subsequent events EDPR informs about changes in corporate bodies EDP Renováveis, S.A. (“EDPR”) informs that the Company has received the resignation of Mrs. Joan Avalyn Dempsey as independent member of EDPR's Board of Directors. EDPR would like to thank Mrs. Joan Avalyn Dempsey for all her dedication and contribution to the success of the Company. The Company will start the process to identify and propose the best possible candidates in order to fill this vacancy at EDPR’s Board of Directors. Ocean Winds is awarded with exclusive rights to develop around 1 GW offshore wind project in Scotland EDP Renováveis, S.A. (“EDPR”) is pleased to announce that Ocean Winds, the offshore JV owned by EDPR (50%) and Engie (50%), was awarded with block NE4 by the Crown Estate Scotland (“CES”) in the ScotWind seabed tender. Ocean Winds was awarded exclusive rights to develop a bottom-fixed offshore wind project of around 1 GW in block NE4, the Caledonia Offshore Wind farm (“Caledonia”), and consideration is being given to using part of the output for green hydrogen production.

120 Caledonia’s 440 km2 seabed area is adjacent to the existing 950 MW Moray East and c.0.9 GW Moray West offshore projects, allowing Ocean Winds to leverage on the experience and operational synergies of developing, building and operating Caledonia in conjunction with Moray East and Moray West. The UK is among the largest offshore wind markets worldwide, having recently raised its offshore target to 40 GW by 2030. Ocean Winds continues to expand its presence and is fully committed to investing in Scotland, with Moray East 950 MW leading the way as the largest offshore wind farm in Scotland, Moray West c.0.9 GW which is shovel-ready, and now Caledonia with around 1 GW to be commissioned until the end of the decade, positioning Ocean Winds as a leader in the Scottish Offshore market and actively contributing with around 2.9 GW to reach the UK 40 GW target by 2030. With such announcement, EDPR increases its growth options in offshore wind in an attractive market, thereby enhancing and diversifying the company’s long term profitable growth options while maintaining a balanced risk profile. 42. Business Combination Distributed Generation EDPR, through its wholly owned US subsidiary, EDP Renewables North America LLC, entered into an agreement in January 2021 to acquire 85% of C2 Omega LLC (C2). C2 is a US based Distributive Solar Generation Company with 89 MWs of operating and near completion capacity with a near-term pipeline of approximately 120 MWs through 16 states. At that moment, the completion of this transaction was subject to customary conditions precedent. With the aforementioned customary conditions precedent fulfilled on March 1, 2021, EDPR acquired the aforementioned 85% interest in C2 for 46,530 thousand euros (55,032 thousand USD). This transaction is considered under the scope of IFRS 3 - Business combinations. Within this transaction, EDPR has gained control over the company C2, with the then unrelated former owners have retained 15% of the ownership. The former sole owners are currently employees of EDPR. EDPR has an option to purchase the remaining 15% after February 2025 at an amount that is the present value of cash flows determined in a pre-defined model. If this call option is not executed by EDPR, then the former owners may put the 15% to EDPR after February 2026 using the present value of cash flows from the same pre-defined model, but with a discount rate 100 basis points higher than what was used in the value of EDPR's call option one year prior. The Group used the financial statements as at 28 February 2021 of the companies acquired, to determine pre-acquisition results and, consequently, the companies have been consolidated from that date. The profit and loss and statement of cash flows reflect the activity of C2 and its subsidiaries from March 1, 2021 through December 31, 2021. If this acquisition had occurred at the beginning of 2021, it would have contributed to the consolidated financial statements with Revenues, mainly from energy sales, in the approximate amount of 13,000 thousand Euros and with a Net loss for the period in the approximate amount of 2,400 thousand Euros, referring to the twelve-month period ended at 31 December 2021. At the acquisition date, EDPR Group has determined the fair value of the assets acquired and liabilities assumed, based on a valuation performed by a third party. The valuation methodology utilized was a discounted cashflow approach, where cash flows for each project were forecasted for the remaining life of the assets. The main components of cashflow, namely production, long term power prices and operational costs were estimated using EDPR’s own methodology using historical data of the assets provided by the seller. The after tax cash flows were then discounted at the weighted average cost of capital of 7% reflecting the risk of the debt and equity financing components adjusted for the contracted profile of each project. Lastly to the aggregate value of the portfolio, adjustments were made for one-off items, other balance sheet assets or liabilities and synergies, to reach the final equity valuation. Such valuation has determined a fair value of the net assets acquired in the amount of 44,955 thousands of Euros.

121 Fair value of identifiable assets and liabilities at the acquisition date is presented as follows: ASSETS Property, plant and equipment 134,949 447 135,396 Other non-current assets 14,101 - 14,101 Total Non-Current Assets 149,050 447 149,497 Debtors and other assets from commercial activities 4,233 -2.308 1.925 Other debtors and other assets 3,208 - 3,208 Cash and cash equivalents 1,767 - 1,767 Total Current Assets 9,208 -2.308 6.900 Total Assets 158,258 -1.861 156.397 LIABILITIES Medium / Long term financial debt 79,509 -3.294 76.215 Institutional partnerships in US wind farms 7,216 4.259 11.475 Other non-current liabilities 8,308 - 8,308 Total Non-Current Liabilities 95,033 965 95.998 Short term financial debt 175 - 175 Other current liabilities 11,243 - 11,243 Total Current Liabilities 11,418 - 11.418 Total Liabilities 106,451 965 107,416 Total Net assets at fair value 48,981 - Non-controlling interests 7,253 -3,227 4,026 Total Net assets acquired at fair value 44,955 - Total consideration transferred for the acquisition of the shares -46,530 Goodwill 1,575 The aforementioned C2's valuation has determined a fair value for Property, plant and equipment in the amount of 135,396 thousand Euros, generating a fair value adjustment of 447 thousand Euros (see note 16). 106,190 thousand Euros of this amount is attributable to operating assets and 29,206 thousand Euros is attributable to assets in the development pipeline. The noncontrolling interest value of 4,026 thousand Euros was determined in two pieces: 1) 4 years of cash flows attributable to the former owners up until EDPR's call option date and 2) the value of the option to purchase the former owner's residual 15% interest. The fair values of financial debt and Partnerships in US wind farms was derived by taking the forecasted payment streams under those instruments using the market interest rates and returns for those instruments at the acquisition date. The purchase price allocation exercise carried out in accordance with IFRS 3 resulted in goodwill recognition in the amount of 1,575 thousand Euros, as per the difference of the net assets acquired at fair value and the consideration transferred for the acquisition of the shares. The aforementioned goodwill resulting from the purchase price allocation is mainly attributable to EDPR using C2 as an entry to the distributive generation market. Vento Ludens EDPR entered in July 2021 into an agreement with Vento Ludens Holdings GmbH for the acquisition of 100% of the shares in the UK company Vento Ludens Limited which in turn owns a stake of 79% of the shares in the company Muirake Wind Farm Limited and 100% of the shares in the company Lurg Hill Wind Farm Limited (see note 6). The agreement did not entail any conditions precedent therefore signing and closing was simultaneous. THOUSAND EUROS BOOK VALUE AT ACQUISITION DATE FAIR VALUE ADJUSTMENT FAIR VALUE AT ACQUISITION DATE

122 With this transaction, completed in 20 July 2021, EDPR has acquired a portfolio that consists of 79% of a 5MW operating wind farm comissioned in 2012 with a 20-year Feed in Tariff in Scotland, 100% of 226MW of wind projects located in Scotland and Wales and 100% 44MW of photovoltaic projects located in Ireland for a total consideration of 14,673 thousand Euros (12,698 thousand GBP) that includes a contingent consideration of 1,016 thousand Euros and shareholder loans in the amount of 4,256 thousand Euros. This transaction is considered under the scope of IFRS 3 - Business combinations. For simplification purposes, and considering this does not have a material effect, the Group used the financial statements as at 31 July 2021 of the companies acquired, to determine pre-acquisition balance sheet and results, and, consequently, the companies have been consolidated from that date following the full consolidation method. Thus this acquisition has contributed to the consolidated financial statements with Revenues, mainly from energy sales, in the approximate amount of 558 thousand Euros and with a Net loss in the approximate amount of 153 thousand Euros, referring to the five-month period ended at 31 December 2021. If this acquisition had occurred in the beginning of the exercise, it would have contributed to the consolidated financial statements with Revenues, mainly from energy sales, in the approximate amount of 2,313 thousand Euros and with a Net loss for the period in the approximate amount of 1,697 thousand Euros, referring to the twelve-month period ended at 31 December 2021. At the acquisition date, EDPR Group has determined the fair value of the assets acquired and liabilities assumed, with the assistance of a specialized and independent firm. The valuation methodology utilized has been the Multi-Excess Earning Method (MEEM) and the discounted cashflow approach. This valuation methodology assumes that the kind of assets to be valued normally generates cash flows in combination with other tangible and intangible assets and therefore consists in deducting the estimated cost of the use of other assets, such as PP&E or working capital, from the estimated cash flows associated to the asset to be valued. The main components of cashflow, namely production, long term power prices and operational costs were estimated using EDPR’s own methodology using historical data and experience assessing investments of similar wind farms and solar PV projects in EDPR’s portfolio. These internal assumptions used in the preparation of the cashflows of the wind farm have been challenged by the specialized firm. The after tax cash flows were then discounted at the weighted average cost of capital, that has been calculated by the firm, reflecting the risk of the country and adjusted for the profile of the portfolio. Such valuation has determined a fair value of the net assets acquired in the amount of 9,873 thousands Euros. Fair value of identifiable assets and liabilities at the acquisition date is presented as follows: ASSETS Property, plant and equipment 7,564 13,201 20,765 Other non-current assets 126 - 126 Total Non-Current Assets 7,690 13,201 20,891 Cash and cash equivalents 1,130 - 1,130 Other current assets 304 - 304 Total Current Assets 1,434 - 1,434 Total Assets 9,124 13,201 22,325 LIABILITIES Deferred tax liabilities - 3,300 3,300 Other non-current liabilities 7,832 - 7,832 Total Non-Current Liabilities 7,832 3,300 11,132 Other current liabilities 969 - 969 Total Current Liabilities 969 - 969 Total Liabilities 8,801 3,300 12,101 Total Net assets at fair value 10,224 - Non-controlling interests -73 424 351 Total Net assets acquired at fair value 9,873 - Total consideration transferred for the acquisition of the shares -10,417 Goodwill 544 THOUSAND EUROS BOOK VALUE AT ACQUISITION DATE FAIR VALUE ADJUSTMENT FAIR VALUE AT ACQUISITION DATE

123 The aforementioned Vento Ludens portfolio valuation has determined a fair value for Property, plant and equipment in the amount of 20,765 thousand Euros, generating a fair value adjustment of 13,201 thousand Euros and a corresponding deferred tax liability in the amount of 3,300 thousand Euros (see note 16 and 21). Further, the determination of the Non- controlling interests of the company Muirake Wind Farm Limited at fair value has resulted in a total amount of 351 thousand Euros at acquisition date. The purchase price allocation exercise carried out in accordance with IFRS 3R, which is identified as provisional according to what is indicated in note 2.A, resulted in a goodwill recognition in the amount of 544 thousand Euros, as per the difference of the net assets acquired at fair value and the consideration transferred for the acquisition of the shares. The aforementioned goodwill resulting from the purchase price allocation is mainly attributable to EDPR using Vento Ludens portfolio to establish its presence in the UK onshore market with a sizeable and technologically diversified portfolio at different stages of development. Aria del Vento EDPR entered in December 2018 into an agreement with Siemens Gamesa Renewable Energy Italy, S.p.A. for the acquisition of the Italian project Aria del Vento. At that moment, the completion of this transaction was subject to customary conditions precedent.The agreement entailed as one of these conditions precedent to closing that Siemens Gamesa Renewable Energy Italy, S.p.A. contributed the project to a company that would then be acquired by EDPR. With this transaction, completed in June 2021 once the aforementioned customary conditions precedent were fulfilled, EDPR has acquired 100% of the shareholding of the company Parco Eolico Aria del Vento, S.r.l. (see note 6) which owns a wind farm project with a installed capacity of MW 16 which is operational since 2020, for a total consideration of 26,001 thousand Euros. For simplification purposes, and considering this does not have a material effect, the Group used the financial statements as at 30 June 2021 of the company acquired, to determine pre-acquisition balance sheet and results, and, consequently, the companies have been consolidated from that date following the full consolidation method. Thus this acquisition has contributed to the consolidated financial statements with Revenues, mainly from energy sales, in the approximate amount of 3,319 thousand Euros and with a Net profit in the approximate amount of 2,822 thousand Euros, referring to the six- month period ended at 31 December 2021. As the wind farm project was tranferred to the company acquired at closing of the transaction, there is no further profit and loss results previously. At the acquisition date, EDPR Group has determined the fair value of the assets acquired and liabilities assumed, with the assistance of a specialized and independent firm. The valuation methodology utilized has been the Multi-Excess Earning Method (MEEM) and the discounted cashflow approach. This valuation methodology assumes that the kind of assets to be valued normally generates cash flows in combination with other tangible and intangible assets and therefore consists in deducting the estimated cost of the use of other assets, such as PP&E or working capital, from the estimated cash flows associated to the asset to be valued. The main components of cashflow, namely production, long term power prices and operational costs were estimated using EDPR’s own methodology using historical data and experience assessing investments of similar wind farms in EDPR’s portfolio. These internal assumptions used in the preparation of the cashflows of the wind farm have been challenged by the specialized firm. The after tax cash flows were then discounted at the weighted average cost of capital, that has been calculated by the firm, reflecting the risk of the country and adjusted for the profile of the project. Such valuation has determined a fair value of the net assets acquired in the amount of 33,832 thousands Euros.

124 Fair value of identifiable assets and liabilities at the acquisition date is presented as follows: ASSETS Property, plant and equipment 21,651 13,993 35,644 Goodwill 5,216 -5,216 - Other non-current assets 836 - 836 Total Non-Current Assets 27,703 8,777 36,480 Cash and cash equivalents 586 - 586 Other current assets 1,907 - 1,907 Total Current Assets 2,493 - 2,493 Total Assets 30,196 8,777 38,973 LIABILITIES Deferred tax liabilities - 3,358 3,358 Total Non-Current Liabilities - 3,358 3,358 Other current liabilities 1,783 - 1,783 Total Current Liabilities 1,783 - 1,783 Total Liabilities 1,783 3,358 5,141 Total Net assets acquired at fair value 33,832 - Total consideration transferred for the acquisition of the shares -26,001 Gain on acquisition -7,831 The aforementioned Aria del Vento's valuation has determined a fair value for Property, plant and equipment in the amount of 35,644 thousand Euros, generating a fair value adjustment of 13,933 thousand Euros and a corresponding deferred tax liability in the amount of 3,358 thousand Euros (see note 16 and 21). The purchase price allocation exercise carried out in accordance with IFRS 3R, which is identified as provisional according to what is indicated in note 2.A, resulted in a gain recognition in the amount of 7,831 thousand Euros, as per the difference of the net assets acquired at fair value and the consideration transferred for the acquisition of the shares. The gain resulting from the purchase price allocation has been registered in the Other income caption of the consolidated financial statements (see note 9). The aforementioned gain recognition is mainly attributable to the price of the transaction that was agreed back in 2018, before the construction of the wind farm, and the renewable energy market have changed significantly since then, to awarded tariff which is the result of a regulatory policy designed to support the development of renewable energy sources by providing a guaranteed price for producers and to the valuation carried out by the independent expert. Trung Son EDPR entered in April 2021 into an agreement with Trina Solar Investment Pte, Ltd. for the acquisition of 100% of the shares of the holding company called Trina Solar Investment First Pte. Ltd. owning the 100% of the company LYS Energy Investment Pte. Ltd. which in turn owns the 100% of the company holding the 28 MWac (35 MWdc) operational solar PV project called Trung Son Energy Development Joint Stock Company (see note 6). At that moment, the completion of this transaction was subject to customary conditions precedent. With this transaction, completed in 29 June 2021 once the aforementioned customary conditions precedent were fulfilled, EDPR has acquired 100% of the above portfolio for a total consideration of 29,568 thousand Euros (35,179 thousand USD) of which an amount of 16,381 thousand Euros (19,174 thousand USD) refers to shareholders loans. This transaction is considered under the scope of IFRS 3 - Business combinations. THOUSAND EUROS BOOK VALUE AT ACQUISITION DATE FAIR VALUE ADJUSTMENT FAIR VALUE AT ACQUISITION DATE

125 For simplification purposes, and considering this does not have a material effect, the Group used the financial statements as at 30 June 2021 of the company acquired, to determine pre-acquisition balance sheet and results, and, consequently, the companies have been consolidated from that date following the full consolidation method. Thus, this acquisition has contributed to the consolidated financial statements with Revenues, mainly from energy sales, in the approximate amount of 1,246 thousand Euros and with a Net loss in the approximate amount of 283 thousand Euros, referring to the six-month period ended at 31 December 2021. If this acquisition had occurred in the beginning of the exercise, it would have contributed to the consolidated financial statements with revenues, mainly from energy sales, in the approximate amount of 3.047 thousand Euros and with a Net profit for the period in the approximate amount of 555 thousand Euros , referring to the twelve-month period ended at 31 December 2021. At the acquisition date, EDPR Group has determined the fair value of the assets acquired and liabilities assumed, with the assistance of a specialized and independent firm. The valuation methodology utilized has been the Multi-Excess Earning Method (MEEM) and the discounted cashflow approach. This valuation methodology assumes that the kind of assets to be valued normally generates cash flows in combination with other tangible and intangible assets and therefore consists in deducting the estimated cost of the use of other assets, such as PP&E or working capital, from the estimated cash flows associated to the asset to be valued. The main components of cashflow, namely production, long term power prices and operational costs were estimated using EDPR’s own methodology using historical data and experience assessing investments of similar solar PV projects in EDPR’s portfolio. These internal assumptions used in the preparation of the cashflows of the solar PV project have been challenged by the specialized firm. The after tax cash flows were then discounted at the weighted average cost of capital, that has been calculated by the firm, reflecting the risk of the country and adjusted for the profile of the project. Such valuation has determined a fair value of the net assets acquired in the amount of 10,844 thousands Euros. Fair value of identifiable assets and liabilities at the acquisition date is presented as follows: ASSETS Property, plant and equipment 19,724 5,631 25,355 Other non-current assets 2,073 - 2,073 Total Non-Current Assets 21,797 5,631 27,428 Cash and cash equivalents 1,459 - 1,459 Other current assets 15,381 - 15,381 Total Current Assets 16,840 - 16,840 Total Assets 38,637 5,631 44,268 LIABILITIES Deferred tax liabilities - 1,126 1,126 Other non-current liabilities 31,222 - 31,222 Total Non-Current Liabilities 31,222 1,126 32,348 Other current liabilities 1,076 - 1,076 Total Current Liabilities 1,076 - 1,076 Total Liabilities 32,298 1,126 33,424 Total Net assets acquired at fair value 10,844 - Total consideration transferred for the acquisition of the shares -13,187 Goodwill 2,343 The aforementioned Trung Son's portfolio valuation has determined a fair value for Property, plant and equipment in the amount of 25,355 thousand Euros, generating a fair value adjustment of 5,631 thousand Euros and a corresponding deferred tax liability in the amount of 1,126 thousand Euros (see note 16 and 21). THOUSAND EUROS BOOK VALUE AT ACQUISITION DATE FAIR VALUE ADJUSTMENT FAIR VALUE AT ACQUISITION DATE

126 The purchase price allocation exercise carried out in accordance with IFRS 3R resulted in a goodwill recognition in the amount of 2,343 thousand Euros, as per the difference of the net assets acquired at fair value and the consideration transferred for the acquisition of the shares. The aforementioned goodwill recognition resulting from the purchase price allocation, which is identified as provisional according to what is indicated in note 2.A, is mainly attributable to EDPR using Trung Song’s portfolio to establish its presence in Singapore and Vietnam and represents a first step towards the establishment of EDPR’s presence in the Asia Pacific region. The following business combination took place in 2020: EDPR entered in July 2020 into an agreement with certain funds managed by Macquarie Infrastructure and Real Assets (together with its managed funds), for the acquisition of the control of the renewable business of Viesgo, and namely the acquisition of 100% of the shares in the companies Viesgo Europa, S.L.U. and Viesgo Renovables, S.L.U. which in turn owns a portfolio of affiliates (see note 6). At that moment, the completion of this transaction was subject to customary conditions precedent. With this transaction, completed in 16 December 2020 once the aforementioned customary conditions precedent were fulfilled, EDPR has gained control over the renewable business of Viesgo, that comprises 0.5 GW (EBITDA + Equity MW) of renewable installed capacity in Spain (84%) and Portugal (16%), for a total consideration of 563,488 thousand Euros of which an amount of 26,001 thousand Euros refers to shareholders loans. This transaction is considered under the scope of IFRS 3 - Business combinations. Within this transaction, EDPR has gained control over the company Compañía Eólica Aragonesa, S.A. (CEASA), where EDPR had 50% of the shares of the company and acquired the remaining 50% of the shares, considering this acquisition a business combination achieved in stages under IFRS 3. Until the date in which the control was obtained, the shareholding previously held was being included in the consolidated financial statements under the equity method. Total value of the equity investment, previously to the transaction, amounted to 46,527 thousand Euros of which an amount of 1,954 thousand Euros corresponds to the result of the company for the year 2020 attributable to EDPR. For simplification purposes, and considering this does not have a material effect, the Group used the financial statements as at 31 December 2021 of the companies acquired, to determine pre-acquisition results and, consequently, the companies have been consolidated from that date with no impact in the 2021 consolidated profit and loss of the EDPR Group, except for the result of the aforementioned business combination achieved in stages detailed below. If this acquisition had occurred in the beginning of the exercise, it would have contributed to the consolidated financial statements with Revenues, mainly from energy sales, in the approximate amount of 78,000 thousand Euros and with a Net profit for the period in the approximate amount of 17,000 thousand Euros, referring to the twelve-month period ended at 31 December 2021. At the acquisition date, EDPR Group has determined the fair value of the assets acquired and liabilities assumed, based on a valuation performed internally. The valuation methodology utilized was a discounted cashflow approach, where cash flows for each project were forecasted for the remaining life of the assets. The main components of cashflow, namely production, long term power prices and operational costs were estimated using EDPR’s own methodology using historical data of the assets provided by the seller and information from similar wind farms in EDPR’s portfolio. The after tax cash flows were then discounted at the weighted average cost of capital reflecting the risk of each of the country and adjusted for the contracted profile of each project. Lastly to the aggregate value of the portfolio, adjustments were made for one-off items, other balance sheet assets or liabilities and synergies, to reach the final equity valuation. Such valuation has determined a fair value of the net assets acquired in the amount of 503,312 thousands of Euros.

127 Fair value of identifiable assets and liabilities at the acquisition date is presented as follows: ASSETS Property, plant and equipment 203,027 214,254 417,281 Investments in joint ventures and associates 9,437 44,023 53,460 Equity instruments at fair value 182 366 548 Other Non-Current Assets 156,690 - 156,690 Total Non-Current Assets 369,336 258,643 627,979 Cash and cash equivalents 32,907 - 32,907 Other current assets 61,873 - 61,873 Total Current Assets 94,780 - 94,780 Total Assets 464,116 258,643 722,759 LIABILITIES Medium / Long term financial debt 17,095 - 17,095 Provisions 18,719 1,100 19,819 Deferred tax liabilities 11,449 56,631 68,080 Other non-current liabilities 14,948 - 14,948 Total Non-Current Liabilities 62,211 57,731 119,942 Short term financial debt 964 - 964 Other current liabilities 43,703 - 43,703 Total Current Liabilities 44,667 - 44,667 Total Liabilities 106,878 57,731 164,609 Total Net assets at fair value 558,150 - Non-controlling interests -8,311 - Net assets previously held in CEASA (business combination achieved in stages) -46,527 Total Net assets acquired at fair value 503,312 - Total consideration transferred for the acquisition of the shares -537,487 Goodwill 36,062 Gain on acquisition (CEASA -business combination achieved in stages) -1,887 The aforementioned Viesgo's valuation has determined a fair value for Property, plant and equipment in the amount of 417,281 thousand Euros, generating a fair value adjustment of 214,254 thousand Euros and a corresponding deferred tax liability in the amount of 56,631 thousand Euros (see note 15 and 19). Further, some of the affiliates of Viesgo Renovables, S.L.U. are associates companies which are consolidated by the equity method, as well as equity instruments at fair value where the valuation determined a fair value adjustment in the amount of 44,023 thousand Euros and 366 thousand Euros respectively. At the acquisition date, certain contingent liabilities have been identified, therefore additional provisions have been recognized in the amount of 1,100 thousand Euros. The purchase price allocation exercise carried out in accordance with IFRS 3 resulted as follows: • Goodwill recognition in the amount of 148,341 thousand Euros (see note 20) as per the difference of the net assets acquired at fair value and the consideration transferred for the acquisition of the shares. This amount includes the previous Goodwill recognized in the book value at acquisition date amounting to 112,279 thousand Euros and an additional amount of 36,062 thousand Euros, of which an amount of 4,641 thousand Euros refers to associate companies consolidated by the equity method, thus presented in the caption Investments in joint ventures and associates caption (see note 20); and THOUSAND EUROS BOOK VALUE AT ACQUISITION DATE FAIR VALUE ADJUSTMENT FAIR VALUE AT ACQUISITION DATE

128 • Gain in the step acquisition of CEASA in the amount of 1,887 thousand Euros as a consequence of the remeasurement at fair value of the investment previously held, being registered the corresponding difference between the fair value and the book value in the Other income caption of the consolidated financial statements (see note 9). The aforementioned goodwill resulting from the purchase price allocation, is mainly attributable to the high-quality of the portfolio with strong wind resource (29% average load factor) and with a low risk profile, of which 87% of the capacity is regulated, with an average age of 13 years (~7 years of remaining regulated life) considering that the portfolio also counts with an attractive potential for future extensions/repowering given the aforementioned profile, as well as to the benefits and synergies that are expected to arise as a result of its integration into EDPR Group. 43. Environment issues Expenses of environmental nature are the expenses that were identified and incurred to avoid, reduce or repair damages of an environmental nature that result from the Group's normal activity. These expenses are booked in the income statement of the year, except if they qualify to be recognised as an asset, according to IAS 16. During the year, the environmental expenses recognised in the income statement in the amount of 4,564 thousand Euros (31 December 2020: 5,912 thousand Euros) refer to costs with the environmental management plan. Investments of an environmental nature booked as Property, plant and equipment and intangible assets during 2021 amount to 19,351 thousand Euros (31 December 2020: 14,829 thousand Euros). As referred in accounting policy 2 p), the Group has established provisions for dismantling and decommissioning of property, plant and equipment when a legal or contractual obligation exists to dismantle and decommission those assets at the end of their useful lives. Consequently, the Group has booked provisions for property, plant and equipment related to electricity wind and solar generation for the responsibilities of restoring sites and land to its original condition, in the amount of 313,594 thousand Euros as at 31 December 2021 (31 December 2020: 305,628 thousand Euros) (see note 32). 44. Operating segments report The Group generates energy from renewable resources and has three reportable segments which are the Group’s business platforms, Europe, North America and Brazil. The strategic business units have operations in different geographic zones and are managed separately because their characteristics are quite different. For each of the strategic business units, the Group’s CEO reviews internal management reports on at least a quarterly basis. The accounting policies of the reportable segments are the same as described in note 2. Information regarding the results of each reportable segment is included in Annex 2. Performance is based on segment operating profit measures, as included in the internal management reports that are reviewed by the Management. Segment operating profit is used to measure performance as management believes that such information is the most relevant in evaluating the results of certain segments relative to other entities that operate within these industries. Inter-segment pricing is determined on an arm’s length basis. A business segment is an identifiable component of the Group, aimed at providing a single product or service, or a group of related products or services, and it is subject to risks and returns that can be distinguished from those of other business segments.

129 The Group generates energy from renewable sources in several locations and its activity is managed based on the following business segments: • Europe: refers to EDPR EU Group companies operating in Spain, Portugal, Belgium, France, Italy, Netherlands, Poland, Romania, United Kingdom, Hungary and Greece; • North America: refers to EDPR North America, EDPR Canada and EDPR Mexico Group companies that operate in United States of America, Canada and Mexico, respectively; • Brazil: refers to EDPR Brasil Group companies that operate in this country. Segment definition The amounts reported in each business segment result from the aggregation of the subsidiaries and business units defined in each segment perimeter, including the intra-segment eliminations, without any inter-segment allocation adjustment. The financial information disclosed by each business segment is determined based on the amounts booked directly in the subsidiaries that compose the segment, including the intra-segment eliminations, without any inter-segment allocation adjustment. 45. Audit and non-audit fees PricewaterhouseCoopers (PwC) was reappointed in the Shareholder’s Meeting held on April 12 th 2021 as the external auditor of the EDPR Group for years 2021, 2022 and 2023. Fees for professional services provided by this company and the other related entities and persons in accordance with Law 22/2015 of 20 July, for the year ended in 31 December 2021 and 2020 are as follows: 31 DECEMBER 2021 THOUSAND EUROS EUROPE NORTH AMERICA BRAZIL OTHER TOTAL Audit and statutory audit of accounts 1,540 1,379 189 84 3,192 Other non-audit services 166 11 6 - 183 Total 1,706 1,390 195 84 3,375 The amount of Other non-audit services in Europe includes, among others, services that refer to the entire Group such as the review of the internal control system on financial reporting and review of the non-financial information related to sustainability included in the EDPR Group’s annual report, which are invoiced to a European company. This amount also includes the limited review as of June 30, 2021 of the EDPR Consolidated Financial Statements and other reviews for Group consolidation purposes which are considered non-audit services according to the respective local regulation. Total amount for Europe includes 786 thousand Euros of services provided by PricewaterhouseCoopers Auditores S.L. from which 624 thousand Euros refer to audit services and 162 thousand Euros refer to non-audit services. The above fees exclude the fees for the companies that were sold during 2021 amounting 62 thousand Euros (see note 6). The PwC fees for 2020 are as follows: 31 DECEMBER 2020 THOUSAND EUROS EUROPE NORTH AMERICA BRAZIL TOTAL Audit and statutory audit of accounts 1,346 1,150 167 2,663 Other non-audit services 170 11 4 185 Total 1,516 1,161 171 2,848 Total amount for Europe includes 644 thousand Euros of services provided by PricewaterhouseCoopers Auditores S.L. from which 494 thousand Euros refer to audit services and 150 thousand Euros refer to non-audit services.

130 Annex I The Subsidiary Companies consolidated under the full consolidated method, as at 31 December 2021 and 2020, are as follows, where “% of capital” represents the direct stake held by the immediate parent company/ies and “% of voting rights” represents the indirect stake held by the Group’s parent holding company (EDP Renováveis S.A.): 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights GROUP'S PARENT HOLDING COMPANY AND RELATED ACTIVITIES EDP Renováveis, S.A. (Group's parent holding company) Oviedo PwC 100.00% 100.00% 100.00% 100.00% EDP Renováveis Servicios Financieros, S.A. Oviedo PwC 100.00% 100.00% 100.00% 100.00% EUROPE GEOGRAPHY / PLATFORM Spain EDP Renewables Europe, S.L.U. (Europe Parent Company) Oviedo PwC 100.00% 100.00% 100.00% 100.00% EDP Renovables España, S.L.U. Oviedo PwC 100.00% 100.00% 100.00% 100.00% Acampo Arias, S.L. Zaragoza PwC 95.00% 95.00% 95.00% 95.00% Aplicaciones Industriales de Energías Limpias, S.L. Zaragoza n.a. 61.50% 61.50% 61.50% 61.50% Aprofitament D'Energies Renovables de la Terra Alta, S.A. Barcelona n.a. 0.00% 0.00% 28.27% 44.09% Canerde, S.L.U. Madrid n.a. 80.00% 80.00% 100.00% 100.00% Compañía Eólica Aragonesa, S.A. Zaragoza PwC 100.00% 100.00% 100.00% 100.00% Desarrollos Eólicos de Teruel, S.L. Zaragoza n.a. 51.00% 51.00% 51.00% 51.00% Desarrollos Renovables de Teruel, S.L. Teruel n.a. 100.00% 100.00% 0.00% 0.00% EDPR México, S.L.U. Oviedo n.a. 100.00% 100.00% 0.00% 0.00% EDPR Terral S.L.U. Madrid n.a. 100.00% 100.00% 100.00% 100.00% EDPR Yield, S.A.U. Oviedo PwC 100.00% 100.00% 100.00% 100.00% Eólica Arlanzón, S.A. Madrid PwC 85.00% 85.00% 85.00% 85.00% Eólica Campollano, S.A. Madrid PwC 75.00% 75.00% 75.00% 75.00% Eólica Fontesilva, S.L.U. La Coruña PwC 100.00% 100.00% 100.00% 100.00% Eólica La Brújula, S.A.U. Madrid PwC 100.00% 100.00% 100.00% 100.00% Eólica La Janda, S.L.U. Madrid PwC 100.00% 100.00% 100.00% 100.00% IAM Caecius, S.L. Madrid n.a. 100.00% 100.00% 0.00% 0.00% Iberia Aprovechamientos Eólicos, S.A. Zaragoza PwC 94.00% 94.00% 94.00% 94.00% Northeolic Monte Buño, S.L. Cantabria n.a. 75.00% 75.00% 75.00% 75.00% Parc Eòlic Serra Voltorera, S.L.U. Barcelona PwC 100.00% 100.00% 100.00% 100.00% Parque Eólico Altos del Voltoya, S.A. Madrid PwC 92.50% 92.50% 92.50% 92.50% Parque Eólico de Abrazadilla, S.L.U. Madrid n.a. 100.00% 100.00% 100.00% 100.00% Parque Eólico La Sotonera, S.L. Zaragoza PwC 69.84% 69.84% 69.84% 69.84% Parque Eólico Los Cantales, S.L.U. Zaragoza PwC 100.00% 100.00% 100.00% 100.00% Parque Eólico Santa Quiteria, S.L. Zaragoza PwC 100.00% 83.96% 100.00% 83.96% Renovables Castilla La Mancha, S.A. Madrid PwC 90.00% 90.00% 90.00% 90.00% Site Sunwind Energy, S.L. Madrid n.a. 100.00% 100.00% 0.00% 0.00% Tébar Eólica, S.A.U. Madrid PwC 100.00% 100.00% 100.00% 100.00% Viesgo Europa, S.L.U. Oviedo PwC 100.00% 100.00% 100.00% 100.00% Viesgo Mantenimiento, S.L.U. Cantabria n.a. 100.00% 100.00% 100.00% 100.00% Viesgo Renovables, S.L.U. Oviedo PwC 100.00% 100.00% 100.00% 100.00%

131 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights Portugal EDP Renováveis Portugal, S.A. Porto PwC 51.00% 51.00% 51.00% 51.00% EDP Renewables SGPS, S.A. Porto PwC 100.00% 100.00% 100.00% 100.00% EDPR PT - Parques Eólicos, S.A. Porto PwC 51.00% 51.00% 51.00% 51.00% EDPR PT - Promoção e Operação, S.A. Porto PwC 100.00% 100.00% 100.00% 100.00% Eólica da Coutada, S.A. Soutelo de Aguiar PwC 100.00% 51.00% 100.00% 51.00% Eólica da Linha, S.A. Porto PwC 0.00% 0.00% 100.00% 100.00% Eólica da Serra das Alturas, S.A. Boticas PwC 50.10% 25.55% 50.10% 25.55% Eólica da Terra do Mato, S.A. Porto PwC 100.00% 51.00% 100.00% 51.00% Eólica das Serras das Beiras, S.A. Piódão - Arganil PwC 100.00% 51.00% 100.00% 51.00% Eólica de Alagoa, S.A. Arcos de Valdevez PwC 60.00% 30.60% 60.00% 30.60% Eólica de Montenegrelo, S.A. Vila Pouca de Aguiar PwC 50.10% 25.55% 50.10% 25.55% Eólica do Alto da Lagoa, S.A. Porto PwC 100.00% 51.00% 100.00% 51.00% Eólica do Alto da Teixosa, S.A. Alhões PwC 100.00% 51.00% 100.00% 51.00% Eólica do Alto do Mourisco, S.A. Cerdedo PwC 100.00% 51.00% 100.00% 51.00% Eólica do Espigão, S.A. Vila Nova CMV PwC 100.00% 51.00% 100.00% 51.00% Eólica do Sincelo, S.A. Porto PwC 0.00% 0.00% 100.00% 100.00% Eólica dos Altos de Salgueiros-Guilhado, S.A. Vila Pouca de Aguiar PwC 100.00% 51.00% 100.00% 51.00% Eoliser - Serviços de Gestão para Parques Eólicos, Lda. Lisboa n.a. 100.00% 100.00% 100.00% 100.00% Fotovoltaica Lote A, S.A. Porto PwC 100.00% 100.00% 100.00% 100.00% IE2 Portugal, SGPS, S.A. Porto PwC 100.00% 100.00% 100.00% 100.00% Malhadizes - Energia Eólica, S.A. Porto PwC 100.00% 51.00% 100.00% 51.00% Parque Eólico do Barlavento, S.A. Porto PwC 89.98% 89.98% 89.98% 89.98% S.E.E. - Sul Energía Eólica, S.A. Porto PwC 100.00% 100.00% 100.00% 100.00% France EDPR France Holding, S.A.S. Paris PwC 100.00% 100.00% 100.00% 100.00% Le Chemin de la Corvée, S.A.S. Paris PwC 100.00% 100.00% 100.00% 100.00% Monts de la Madeleine Energie, S.A.S. Paris PwC 100.00% 100.00% 100.00% 100.00% Monts du Forez Energie, S.A.S. Paris PwC 100.00% 100.00% 100.00% 100.00% Parc Éolien d’Entrains-sur-Nohain, S.A.S. Paris PwC 90.00% 90.00% 90.00% 90.00% Parc Eolien de Dionay, S.A.S. Paris PwC 100.00% 100.00% 100.00% 100.00% Transition Euroise Roman II, S.A.S. Paris n.a. 85.00% 85.00% 85.00% 85.00% Vanosc Energie, S.A.S. Paris n.a. 100.00% 100.00% 100.00% 100.00% Bourbriac II, S.A.S. Paris n.a. 0.00% 0.00% 100.00% 100.00% La Plaine de Nouaille, S.A.S. Paris n.a. 0.00% 0.00% 100.00% 100.00% Le Chemin de Saint Druon, S.A.S. Paris n.a. 0.00% 0.00% 100.00% 100.00% Parc Éolien de Boqueho-Plouagat, S.A.S. Paris n.a. 0.00% 0.00% 100.00% 100.00% Parc Éolien de Flavin, S.A.S. Paris n.a. 0.00% 0.00% 100.00% 100.00% Parc Éolien de la Champagne Berrichonne, S.A.R.L. Paris n.a. 0.00% 0.00% 100.00% 100.00% Parc Éolien de la Côte du Cerisat, S.A.S. Paris n.a. 0.00% 0.00% 100.00% 100.00% Parc Éolien de La Hetroye, S.A.S. Paris n.a. 0.00% 0.00% 100.00% 100.00% Parc Éolien de Mancheville, S.A.R.L. Paris n.a. 0.00% 0.00% 100.00% 100.00% Parc Éolien de Marchéville, S.A.S. Paris n.a. 0.00% 0.00% 100.00% 100.00% Parc Éolien de Paudy, S.A.S. Paris n.a. 0.00% 0.00% 100.00% 100.00% Parc Éolien de Prouville, S.A.S. Paris n.a. 0.00% 0.00% 100.00% 100.00% Parc Éolien des 7 Domaines, S.A.S. Paris n.a. 0.00% 0.00% 100.00% 100.00% Parc Éolien des Longs Champs, S.A.R.L. Paris n.a. 0.00% 0.00% 100.00% 100.00%

132 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights Parc Eolien Louvières, S.A.R.L. Paris n.a. 0.00% 0.00% 100.00% 100.00% Vaudrimesnil Energie, S.A.R.L. Paris n.a. 0.00% 0.00% 100.00% 100.00% Poland EDP Renewables Polska, Sp. z o.o. Warsaw PwC 100.00% 100.00% 100.00% 100.00% EDP Renewables Polska HoldCo, S.A. Warsaw PwC 51.00% 51.00% 51.00% 51.00% EDP Renewables Polska Solar, Sp. z o.o. Warsaw n.a. 100.00% 100.00% 100.00% 100.00% Budzyn, Sp. z o.o. Warsaw n.a. 100.00% 51.00% 100.00% 51.00% Elektrownia Kamienica, Sp. z o.o. Warsaw n.a. 100.00% 100.00% 0.00% 0.00% Elektrownia Wiatrowa Kresy I, Sp. z o.o. Warsaw PwC 100.00% 51.00% 100.00% 51.00% EW Dobrzyca, sp. z o.o. Warsaw PwC 100.00% 100.00% 100.00% 100.00% EWP European Wind Power Krasin, Sp. z o.o. Warsaw PwC 100.00% 100.00% 100.00% 100.00% Farma Fotowoltaiczna Koden, Sp. z o.o. Warsaw n.a. 100.00% 100.00% 0.00% 0.00% Farma Wiatrowa Bogoria, Sp. z o.o. Warsaw PwC 100.00% 100.00% 100.00% 100.00% Farma Wiatrowa Starozreby, Sp. z o.o. Warsaw n.a. 100.00% 100.00% 100.00% 100.00% FW Warta, Sp. z o.o. Warsaw PwC 100.00% 100.00% 100.00% 100.00% Gudziki Wind Farm, sp. z o.o. Warsaw n.a. 100.00% 51.00% 100.00% 51.00% Karpacka Mala Energetyka, Sp. z o.o. Warsaw n.a. 85.00% 85.00% 85.00% 85.00% Korsze Wind Farm, Sp. z o.o. Warsaw PwC 100.00% 51.00% 100.00% 51.00% Kowalewo Wind, Sp. z o.o. Warsaw PwC 100.00% 100.00% 100.00% 100.00% Lichnowy Windfarm, Sp. z o.o. Warsaw PwC 100.00% 100.00% 100.00% 100.00% Masovia Wind Farm I, Sp. z o.o. Warsaw PwC 100.00% 100.00% 100.00% 100.00% Miramit Investments, Sp. z o.o. Warsaw n.a. 100.00% 100.00% 100.00% 100.00% Molen Wind II, Sp. z o.o. Warsaw PwC 100.00% 51.00% 100.00% 51.00% Neo Solar Chotków, Sp. z o.o. Warsaw n.a. 100.00% 100.00% 0.00% 0.00% Neo Solar Farm, Sp. z o.o. Warsaw n.a. 100.00% 100.00% 100.00% 100.00% Neo Solar Przykona II, Sp. z o.o. Warsaw n.a. 100.00% 100.00% 0.00% 0.00% Nowa Energia 1, Sp. z o.o. Warsaw PwC 100.00% 100.00% 100.00% 100.00% R.Wind, Sp. z o.o. Warsaw n.a. 100.00% 100.00% 100.00% 100.00% Radziejów Wind Farm, Sp. z o.o. Warsaw PwC 100.00% 51.00% 100.00% 51.00% Rampton, Sp. z o.o. Warsaw n.a. 100.00% 100.00% 100.00% 100.00% Relax Wind Park I, Sp. z o.o. Warsaw PwC 100.00% 51.00% 100.00% 51.00% Relax Wind Park III, Sp. z o.o. Warsaw PwC 100.00% 51.00% 100.00% 51.00% Ujazd, Sp. z o.o. Warsaw PwC 100.00% 100.00% 100.00% 100.00% WF Energy III, Sp. z o.o. Warsaw n.a. 100.00% 100.00% 0.00% 0.00% Wind Field Wielkopolska, Sp. z o.o. Warsaw PwC 100.00% 100.00% 100.00% 100.00% Winfan, Sp. z o.o. Warsaw n.a. 100.00% 100.00% 100.00% 100.00% Romania EDPR România, S.R.L. Bucarest PwC 100.00% 100.00% 100.00% 100.00% Beta Wind, S.R.L. Bucarest n.a. 100.00% 100.00% 0.00% 0.00% Energopark, S.R.L. Bucarest n.a. 100.00% 100.00% 0.00% 0.00% International Solar Energy, S.R.L. Bucarest n.a. 100.00% 100.00% 0.00% 0.00% Solar Phoenix, S.R.L. Bucarest n.a. 100.00% 100.00% 0.00% 0.00% Cernavoda Power, S.A. Bucarest n.a. 0.00% 0.00% 100.00% 100.00% Pestera Wind Farm, S.A. Bucarest n.a. 0.00% 0.00% 100.00% 100.00% Sibioara Wind Farm, S.R.L. Bucarest n.a. 0.00% 0.00% 100.00% 100.00% VS Wind Farm, S.A. Bucarest n.a. 0.00% 0.00% 100.00% 100.00% United Kingdom Altnabreac Wind Farm Limited Edinburgh PwC 100.00% 100.00% 100.00% 100.00%

133 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights Ben Sca Wind Farm Limited Edinburgh PwC 100.00% 100.00% 100.00% 100.00% Drummarnock Wind Farm Limited Edinburgh PwC 100.00% 100.00% 100.00% 100.00% Lurg Hill Wind Farm Ltd Edinburgh n.a. 100.00% 100.00% 0.00% 0.00% Moorshield Wind Farm Limited Edinburgh PwC 100.00% 100.00% 100.00% 100.00% Muirake Wind Farm Ltd Edinburgh PwC 79.00% 79.00% 0.00% 0.00% Vento Ludens Ltd Edinburgh PwC 100.00% 100.00% 0.00% 0.00% Wind 2 Project 1 Limited Edinburgh PwC 100.00% 100.00% 100.00% 100.00% Italy EDP Renewables Italia, S.r.l. Milan PwC 51.00% 51.00% 51.00% 51.00% EDP Renewables Italia Holding, S.r.l. Milan PwC 100.00% 100.00% 100.00% 100.00% Aliseo, S.r.l. Milan n.a. 0.00% 0.00% 65.00% 65.00% Aria del Vento Milan PwC 100.00% 100.00% 0.00% 0.00% AW 2, S.r.l. Milan PwC 75.00% 75.00% 75.00% 75.00% Breva Wind, S.r.l. Milan PwC 100.00% 100.00% 100.00% 100.00% C & C Tre Energy S.r.l. Milan PwC 100.00% 100.00% 0.00% 0.00% Conza Energia, S.r.l. Milan PwC 100.00% 100.00% 100.00% 100.00% Custolito, S.r.l. Milan n.a. 100.00% 100.00% 100.00% 100.00% EDPR Centro Italia PV, S.r.l. Milan n.a. 100.00% 100.00% 0.00% 0.00% EDPR Sicilia PV, S.r.l. Milan n.a. 100.00% 100.00% 100.00% 100.00% EDPR Sicilia Wind, S.r.l. Milan n.a. 100.00% 100.00% 100.00% 100.00% EDPR Villa Galla, S.r.l. Milan PwC 100.00% 51.00% 100.00% 51.00% Energia Emissioni Zero 4, S.r.l. Milan PwC 60.00% 60.00% 60.00% 60.00% Giglio, S.r.l. Milan PwC 60.00% 60.00% 60.00% 60.00% Lucus Power, S.r.l. Milan PwC 100.00% 100.00% 100.00% 100.00% Re Plus, S.r.l. Milan n.a. 100.00% 100.00% 100.00% 100.00% San Mauro, S.r.l. Milan PwC 75.00% 75.00% 75.00% 75.00% Sarve, S.r.l. Milan PwC 51.00% 51.00% 51.00% 51.00% T Power, S.p.A. Milan Baker Tilly R. 100.00% 100.00% 100.00% 100.00% TACA Wind, S.r.l. Milan PwC 100.00% 100.00% 100.00% 100.00% Tivano, S.r.l. Milan PwC 75.00% 75.00% 75.00% 75.00% VRG Wind 153, S.r.l. Milan PwC 80.00% 80.00% 80.00% 80.00% WinCap, S.r.l. Milan PwC 100.00% 100.00% 100.00% 100.00% Wind Energy San Giorgio, S.r.l. Milan PwC 60.00% 60.00% 60.00% 60.00% Greece Aioliki Oitis Energiaki Single-Member LLC Athens n.a. 100.00% 100.00% 0.00% 0.00% Aioliko Parko Fthiotidos Erimia E.P.E. Athens PwC 100.00% 100.00% 100.00% 100.00% EDPR Hellas 1 M.A.E. Athens PwC 100.00% 100.00% 100.00% 100.00% EDPR Hellas 2 M.A.E. Athens PwC 100.00% 100.00% 100.00% 100.00% Energiaki Arvanikou E.P.E. Athens PwC 100.00% 100.00% 100.00% 100.00% Kadmeios Anemos Energiaki, A.E. Athens n.a. 100.00% 100.00% 0.00% 0.00% Voiotikos Anemos Energy, A.E. Athens n.a. 100.00% 100.00% 0.00% 0.00% Wind Park Aerorrachi M.A.E. Athens PwC 100.00% 100.00% 100.00% 100.00% Wind Shape, Ltd. Athens n.a. 100.00% 100.00% 100.00% 100.00% Belgium EDP Renewables Belgium, S.A. Brussels PwC 100.00% 100.00% 100.00% 100.00% The Netherlands EDPR International Investments, B.V. Amsterdam PwC 100.00% 100.00% 100.00% 100.00% Hungary

134 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights EDP Renewables Hungary Budapest PwC 100.00% 100.00% 100.00% 100.00% EDPR Investment Hungary, Kft. Hungary n.a. 100.00% 100.00% 0.00% 0.00% ESC ERŐMŰ, Kft. Hungary n.a. 0.00% 0.00% 100.00% 100.00% Nyírség Watt, Kft. Hungary PwC 100.00% 100.00% 0.00% 0.00% Sunlight Solar, Kft. Baja PwC 85.00% 85.00% 100.00% 100.00% NORTH AMERICA GEOGRAPHY / PLATFORM Mexico EDPR Servicios de México, S. de R.L. de C.V. Ciudad de México n.a. 100.00% 100.00% 100.00% 100.00% Eólica de Coahuila, S.A. de C.V. Ciudad de México PwC 51.00% 51.00% 51.00% 51.00% Parque Solar Los Cuervos, S. de R.L. de C.V. Ciudad de México n.a. 100.00% 100.00% 100.00% 100.00% Vientos de Coahuila, S.A. de C.V. Ciudad de México n.a. 100.00% 100.00% 100.00% 100.00% USA EDP Renewables North America LLC Delaware PwC 100.00% 100.00% 100.00% 100.00% 17th Star Wind Farm LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% 10 Point Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% 2007 Vento I LLC Delaware PwC 100.00% 100.00% 100.00% 51.00% 2007 Vento II LLC Delaware PwC 100.00% 51.00% 100.00% 51.00% 2008 Vento III LLC Delaware PwC 100.00% 51.00% 100.00% 100.00% 2009 Vento IV LLC Delaware n.a. 0.00% 0.00% 100.00% 51.00% 2009 Vento V LLC Delaware PwC 100.00% 51.00% 100.00% 51.00% 2011 Vento IX LLC Delaware PwC 100.00% 51.00% 100.00% 100.00% 2011 Vento X LLC Delaware PwC 100.00% 100.00% 100.00% 50.00% 2014 Sol I LLC Delaware PwC 100.00% 50.00% 100.00% 51.00% 2014 Vento XI LLC Delaware PwC 100.00% 51.00% 100.00% 51.00% 2014 Vento XII LLC Delaware PwC 100.00% 51.00% 100.00% 51.00% 2015 Vento XIII LLC Delaware PwC 100.00% 51.00% 100.00% 51.00% 2015 Vento XIV LLC Delaware PwC 100.00% 51.00% 100.00% 100.00% 2016 Vento XV LLC Delaware PwC 100.00% 100.00% 100.00% 100.00% 2016 Vento XVI LLC Delaware PwC 100.00% 100.00% 100.00% 100.00% 2017 Sol II LLC Delaware PwC 100.00% 100.00% 100.00% 100.00% 2018 Vento XVIII LLC Delaware PwC 100.00% 100.00% 100.00% 100.00% 2019 SOL V LLC * Delaware PwC 100.00% 20.00% 100.00% 100.00% 2019 Vento XX LLC * Delaware PwC 20.00% 20.00% 100.00% 100.00% 2019 Vento XXI LLC Delaware PwC 100.00% 100.00% 100.00% 100.00% 2020 Vento XXII LLC Delaware PwC 100.00% 100.00% 100.00% 100.00% 2021 DG Agora Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% 2021 DG Agora Sol I LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% 2021 DG Agora Ventures I LLC Delaware n.a. 100.00% 85.00% 100.00% 51.00% 2021 DG Apollo Sol II LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% 2021 DG Apollo Ventures II LLC Delaware n.a. 100.00% 85.00% 100.00% 51.00% 2021 DG CA Agora Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% 2021 DG CA Agora Sol I LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% 2021 DG CA Agora Ventures I LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% 2021 DG CA Apollo Sol II LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% 2021 DG CA Apollo Ventures II LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% 2021 Vento XXIII LLC Delaware PwC 100.00% 100.00% 100.00% 100.00% Alabama Ledge Wind Farm LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00%

135 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights Alabama Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Amsterdam 3 Solar LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% Antelope Ridge Wind Power Project LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Arbuckle Mountain Wind Farm LLC Delaware PwC 1 100.00% 51.00% 100.00% 100.00% Arkwright Summit Wind Farm LLC Delaware PwC 1 100.00% 100.00% 100.00% 100.00% Arlington Wind Power Project LLC Delaware PwC 1 100.00% 51.00% 100.00% 100.00% Aroostook Wind Energy LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Ashford Wind Farm LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Athena-Weston Wind Power Project II LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Athena-Weston Wind Power Project LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Avondale Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% AZ Mohave Solar LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% AZ Solar LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Azalea Springs Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Bayou Bend Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% BC2 Maple Ridge Holdings LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% BC2 Maple Ridge Wind LLC Delaware PwC 1 100.00% 100.00% 100.00% 100.00% Big River Wind Power Project LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Black Prairie Solar Park II LLC Delaware n.a. 100.00% 100.00% 100.00% 51.00% Black Prairie Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Black Prairie Storage II LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Black Prairie Storage LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Black Prairie Wind Farm II LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Black Prairie Wind Farm III LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Black Prairie Wind Farm LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Blackford County Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Blackford County Wind Farm LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Blackstone Wind Farm II LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Blackstone Wind Farm III LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Blackstone Wind Farm IV LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Blackstone Wind Farm LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Blackstone Wind Farm V LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Blissville Road LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% Blue Canyon Windpower II LLC Texas PwC 1 100.00% 100.00% 100.00% 100.00% Blue Canyon Windpower III LLC Texas n.a. 100.00% 100.00% 100.00% 100.00% Blue Canyon Windpower IV LLC Texas n.a. 100.00% 100.00% 100.00% 100.00% Blue Canyon Windpower V LLC Texas PwC 1 100.00% 51.00% 100.00% 100.00% Blue Canyon Windpower VI LLC Delaware PwC 1 100.00% 100.00% 100.00% 100.00% Blue Canyon Windpower VII LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Blue Harvest Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Blue Marmot I LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Blue Marmot II LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Blue Marmot IV LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Blue Marmot IX LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Blue Marmot Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Blue Marmot V LLC Delaware n.a. 100.00% 100.00% 100.00% 51.00% Blue Marmot VI LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Blue Marmot VII LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00%

136 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights Blue Marmot VIII LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Blue Marmot XI LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Bluebird Prairie Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Bright Stalk Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Broadlands Wind Farm II LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Broadlands Wind Farm III LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Broadlands Wind Farm LLC * Delaware PwC 1 100.00% 20.00% 100.00% 100.00% Buffalo Bluff Wind Farm LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% C2 Alpha Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 Bristol I LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 Bristol II LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 CA 2016 Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 CA WMS Redlands #1693 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 CB 2017 Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 Centrica MT LLC Delaware DHG 100.00% 85.00% 100.00% 100.00% C2 CI Holdings 2 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 CI Sponsor 2 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 CT Fund 1 Holding LLC Delaware DHG 100.00% 85.00% 100.00% 100.00% C2 CT Fund 1 MM LLC Delaware DHG 100.00% 85.00% 100.00% 100.00% C2 Energy Development LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 Energy Holdings Inc. Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 Franklin LLC Delaware n.a. 100.00% 85.00% 50.00% 50.00% C2 Gamma Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 IL WMS Bloomington #3459 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 IL WMS Skokie #1998 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 Lessee Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 MA 2016 Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 MA Adams I Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 MA Adams I LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 MA Adams II LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 MA DEPCOM 2017 LLC Delaware DHG 100.00% 85.00% 100.00% 100.00% C2 MA DEPCOM Sponsor LLC Delaware n.a. 100.00% 85.00% 51.00% 51.00% C2 MA Dudley II LLC Delaware n.a. 100.00% 85.00% 51.00% 51.00% C2 MA FKW Holdings LLC Delaware n.a. 100.00% 85.00% 51.00% 51.00% C2 MA Kelly Way Solar LLC Delaware n.a. 100.00% 85.00% 51.00% 51.00% C2 MA Lakeville Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 MA Lakeville LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 MA Lakeville Sponsor LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 MA Managing Member II LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 MA Managing Member LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 MA New Salem LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 MA Owner LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 MA Swansea Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 MA Swansea LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 MN Hopkins LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 Morin LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 NC Kitty Hawk LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 NJ Andover I LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00%

137 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights C2 NY Brookhaven LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 NY Sentinel Heights Solar LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 O&M Services LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 OH New Lebanon LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 OH Otsego I LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 OH Otsego II LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 Omega Holding Company LLC Delaware n.a. 100.00% 85.00% 75.00% 75.00% C2 Rho LLC Delaware DHG 100.00% 85.00% 100.00% 100.00% C2 RI Hopkinton LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 Scripps 1 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 Scripps 3 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 Scripps 4 LLC Delaware n.a. 100.00% 85.00% 100.00% 51.00% C2 SH 2019 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 Starratt Solar LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 Starratt Sponsor LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM 2020 Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 51.00% C2 WM 2020 Parent LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 1 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 10 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 1512 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 1549 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 2 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 2112 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 3 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 3360 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 3465 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 3799 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 3833 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 3861 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 4 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 4451 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 5 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 5768 LLC Delaware n.a. 100.00% 85.00% 75.00% 75.00% C2 WM Arizona 6 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 7 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Arizona 8 LLC Delaware n.a. 100.00% 85.00% 51.00% 51.00% C2 WM Arizona 9 LLC Delaware n.a. 100.00% 85.00% 51.00% 51.00% C2 WM Arizona Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM California 1789 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM California 1988 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM California 2039 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM California 4202 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM California 4317 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM California 5884 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM California 5890 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM California Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Chester Leasing LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM DSA Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00%

138 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights C2 WM DSA Sponsor LLC Delaware DHG 100.00% 85.00% 100.00% 100.00% C2 WM Greenwood Leasing LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Illinois 1404 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Illinois 1489 LLC Delaware n.a. 100.00% 85.00% 100.00% 50.00% C2 WM Illinois 1548 LLC Delaware n.a. 100.00% 85.00% 100.00% 50.00% C2 WM Illinois 1553 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Illinois 1761 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Illinois 1848 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Illinois 1933 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Illinois 2215 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Illinois 2491 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Illinois 253 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Illinois 5442 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Illinois 612 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Illinois 891 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Illinois Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Indian Land Leasing LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Lake Wylie Leasing LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Laurens Leasing LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Leasing LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Louisiana 309 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Louisiana 539 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Louisiana 87 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Louisiana Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Maryland 1715 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Maryland 2436 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Maryland Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM New Jersey 1 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM New Jersey 1807 LLC Delaware n.a. 100.00% 85.00% 100.00% 51.00% C2 WM New Jersey 1844 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM New Jersey 1869 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM New Jersey 1977 LLC Delaware n.a. 100.00% 85.00% 100.00% 51.00% C2 WM New Jersey 2195 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM New Jersey 3795 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM New Jersey Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Phase 3 Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Phase 3 Sponsor LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Phase I Holdings LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Pickens Leasing LLC Delaware n.a. 100.00% 85.00% 100.00% 51.00% C2 WM Powdersville Leasing LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Regent Dev Holdings 2020 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 WM Simpsonville Leasing LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% C2 Woodbury Solar LLC Delaware n.a. 100.00% 85.00% 100.00% 51.00% C2-REA Solar LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% CA Gettysburg Solar Farm LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% CA Marinwood Solar LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% CA Olde Thompson Solar LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00%

139 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights CA Syracuse Solar LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% CA Tours Solar LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% Camden PV PSEG Solar LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% Camden PV Solar LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% Cameron Solar LLC Delaware n.a. 100.00% 100.00% 100.00% 51.00% Casa Grande Carmel Solar LLC Delaware n.a. 100.00% 100.00% 100.00% 51.00% Castle Valley Wind Farm LLC Delaware n.a. 100.00% 100.00% 100.00% 51.00% Cattlemen Solar Park II LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Cattlemen Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Chateaugay River Wind Farm LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Cielo Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Clinton County Wind Farm LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Cloud County Wind Farm LLC Delaware PwC 1 100.00% 51.00% 100.00% 100.00% Clover Creek Solar Project LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Coldwater Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Coos Curry Wind Power Project LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Cortland-Virgil Road Solar LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% Creed Road Solar 1 LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% Crescent Bar Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Crittenden Wind Farm LLC Delaware n.a. 0.00% 0.00% 100.00% 100.00% Crooked Lake Solar LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Cropsey Ridge Wind Farm LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Crossing Trails Wind Power Project II LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Crossing Trails Wind Power Project LLC Delaware PwC 1 100.00% 100.00% 100.00% 100.00% Dairy Hills Wind Farm LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% DC Green Solar LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% DC- JD Portfolio - 818 Michigan Delaware n.a. 100.00% 85.00% 100.00% 100.00% DC- JD Portfolio - Barrel Roof Delaware n.a. 100.00% 85.00% 100.00% 100.00% DC- JD Portfolio - Flat Roof Delaware n.a. 100.00% 85.00% 100.00% 100.00% DC- JD Portfolio - Green Roof Delaware n.a. 100.00% 85.00% 100.00% 100.00% DC- JD Portfolio - Parking Deck Delaware n.a. 100.00% 85.00% 100.00% 100.00% DC Michigan Solar LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% DC PD Solar LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% Diamond Power Partners LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Drake Peak Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Dry Creek Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Duff Solar Park II LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% Duff Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% East Klickitat Wind Power Project LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% East River Solar LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% Eastmill Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% EDPR CA Solar Park II LLC Delaware n.a. 100.00% 100.00% 100.00% 51.00% EDPR CA Solar Park III LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% EDPR CA Solar Park IV LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% EDPR CA Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% EDPR CA Solar Park V LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% EDPR CA Solar Park VI LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% EDPR NA DG Holding LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00%

140 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights EDPR NA DG MN SLP LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% EDPR NA DG MN YMCA LLC Delaware n.a. 100.00% 85.00% 100.00% 100.00% EDPR NA Distributed Generation LLC Delaware DHG 85.00% 85.00% 100.00% 100.00% EDPR NA Greenfield Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% EDPR NA Shelby Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% EDPR Northeast Allen Solar Park II LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% EDPR Northeast Allen Solar Park LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% EDPR RS LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% EDPR Solar Ventures I LLC Delaware n.a. 50.00% 50.00% 100.00% 51.00% EDPR Solar Ventures II LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% EDPR Solar Ventures III LLC Delaware n.a. 100.00% 100.00% 51.00% 51.00% EDPR Solar Ventures IV LLC Delaware n.a. 100.00% 100.00% 100.00% 51.00% EDPR Solar Ventures V LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% EDPR South Table LLC Nebraska n.a. 100.00% 100.00% 100.00% 100.00% EDPR Vento I Holding LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% EDPR Vento IV Holding LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% EDPR WF LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% EDPR Wind Ventures X LLC Delaware n.a. 100.00% 100.00% 100.00% 100.00% EDPR Wind Ventures XI LLC Delaware n.a. 51.00% 51.00% 100.00% 100.00% EDPR Wind Ventures XII LLC Delaware n.a. 51.00% 51.00% 100.00% 100.00% EDPR Wind Ventures XIII LLC Delaware n.a. 51.00% 51.00% 100.00% 100.00% EDPR Wind Ventures XIV LLC Delaware n.a. 51.00% 51.00% 0.00% 0.00% EDPR Wind Ventures XIX LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% EDPR Wind Ventures XV LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% EDPR Wind Ventures XVI LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% EDPR Wind Ventures XVII LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% EDPR Wind Ventures XVIII LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% EDPR Wind Ventures XX LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% EDPR Wind Ventures XXI LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% EDPR Wind Ventures XXII LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% EDPR Wind Ventures XXIII LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% EDPRNA DG WM Illinois 1998 LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% EDPRNA DG WM Illinois 3459 LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Edwardsport Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Esker Solar Park II LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Esker Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Estill Solar I LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Five-Spot LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Ford Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Franklin Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% German Community Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Gilpatrick Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Goldfinger Ventures III LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Green Country Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Green Power Offsets LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Greenbow Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Gulf Coast Windpower Management Company LLC Delaware n.a. 75.00% 75.00% 0.00% 0.00% Hampton Solar II LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00%

141 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights Headwaters Wind Farm II LLC Delaware PwC 1 100.00% 100.00% 0.00% 0.00% Headwaters Wind Farm III LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Headwaters Wind Farm IV LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Headwaters Wind Farm LLC Delaware PwC 1 100.00% 51.00% 0.00% 0.00% Helena Harbor Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Hidalgo Wind Farm II LLC Delaware PwC 1 100.00% 100.00% 0.00% 0.00% Hidalgo Wind Farm LLC Delaware PwC 1 100.00% 100.00% 0.00% 0.00% High Prairie Wind Farm II LLC Delaware PwC 1 100.00% 51.00% 0.00% 0.00% High Trail Wind Farm LLC Delaware PwC 1 100.00% 100.00% 0.00% 0.00% Holly Hill Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Horizon Wind Chocolate Bayou I LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Horizon Wind Energy Midwest IX LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Horizon Wind Energy Northwest I LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Horizon Wind Energy Northwest IV LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Horizon Wind Energy Northwest VII LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Horizon Wind Energy Northwest X LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Horizon Wind Energy Northwest XI LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Horizon Wind Energy Panhandle I LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Horizon Wind Energy Southwest I LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Horizon Wind Energy Southwest II LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Horizon Wind Energy Southwest III LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Horizon Wind Energy Southwest IV LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Horizon Wind Energy Valley I LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Horizon Wind Freeport Windpower I LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Horizon Wind MREC Iowa Partners LLC Delaware n.a. 75.00% 75.00% 0.00% 0.00% Horizon Wind Ventures I LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Horizon Wind Ventures II LLC Delaware n.a. 0.00% 0.00% 0.00% 0.00% Horizon Wind Ventures III LLC Delaware n.a. 51.00% 51.00% 0.00% 0.00% Horizon Wind Ventures IX LLC Delaware n.a. 51.00% 51.00% 0.00% 0.00% Horizon Wyoming Transmission LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Horse Mountain Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Indiana Crossroads Solar Park II LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Indiana Crossroads Wind Farm II LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Indiana Crossroads Wind Farm LLC Delaware n.a. 0.00% 0.00% 0.00% 0.00% Indiana Crossroads Wind Ventures LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Jericho Rise Wind Farm LLC Delaware PwC 1 100.00% 100.00% 0.00% 0.00% Juniper Wind Power Partners LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Leprechaun Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Lexington Chenoa Wind Farm II LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Lexington Chenoa Wind Farm III LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Lexington Chenoa Wind Farm LLC * Delaware PwC 1 100.00% 20.00% 0.00% 0.00% Lime Hollow Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Little Brook Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Loblolly Hill Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Loki Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Loma de la Gloria Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Lone Valley Solar Park I LLC Delaware n.a. 100.00% 50.00% 0.00% 0.00% Lone Valley Solar Park II LLC Delaware n.a. 100.00% 50.00% 0.00% 0.00%

142 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights Long Hollow Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Lost Lakes Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Lowland Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Loyal Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Machias Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Madison Windpower LLC Delaware PwC 1 100.00% 100.00% 0.00% 0.00% Marathon Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Marble River LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Martinsdale Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% McLean Solar 1 LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% McLean Solar 2 LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% ME Dover Foxcroft Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% ME Ellsworth Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% ME New Vineyard Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% ME Punky Meadows Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% ME Rocky Hill Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% ME Sandy Hill Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Meadow Lake Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Meadow Lake Wind Farm II LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Meadow Lake Wind Farm III LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Meadow Lake Wind Farm IV LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Meadow Lake Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Meadow Lake Wind Farm VIII LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Mesquite Wind LLC Delaware PwC 1 100.00% 100.00% 0.00% 0.00% MidCoast C2 Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Mineral Springs Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Misenheimer Solar LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% MN CSG 2 LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Moonshine Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Morgan Road Solar East LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Morgan Road Solar West LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% MT Plentywood Solar I LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% MT Plentywood Solar II LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% NC Loy Farm Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% ND Crystal Solar I LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% New Scotland 5 Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% New Trail Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% NH Hinsdale Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Nine Kings Transco LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% NJ GSEB Fal Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% North Coast Highway Solar 1 LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% North Coast Highway Solar 2 LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% North Slope Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Norton Solar I LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Norton Solar II LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Number Nine Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% NV Solar Sparks LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% NY Broadway SAS LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00%

143 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights NY CSG 2 Holdings LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% NY CSG 2 Sponsor LLC Delaware DHG 100.00% 85.00% 0.00% 0.00% NY Gomer SAS LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% NY Hemlock Hills Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% NY Highland SAS LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% NY Mines Press Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% NY Morgan Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% NY OG 1 Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% NY- Potsdam I Delaware n.a. 100.00% 85.00% 0.00% 0.00% Old Trail Wind Farm LLC Delaware PwC 1 100.00% 51.00% 0.00% 0.00% Omega CSG 1 LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% OPQ Property LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Pacific Southwest Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Parkman Solar DG LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Paulding Wind Farm II LLC Delaware PwC 1 100.00% 51.00% 0.00% 0.00% Paulding Wind Farm III LLC Delaware PwC 1 100.00% 100.00% 0.00% 0.00% Paulding Wind Farm IV LLC Delaware PwC 1 100.00% 100.00% 0.00% 0.00% Paulding Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Paulding Wind Farm V LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Paulding Wind Farm VI LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Pearl River Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Penn Yan Solar I LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Peterson Power Partners LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Pioneer Prairie Wind Farm I LLC Delaware PwC 1 100.00% 51.00% 0.00% 0.00% Piscataquis Valley Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Pleasantville Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Plum Nellie Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Poplar Camp Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Post Oak Wind LLC Delaware PwC 1 100.00% 51.00% 0.00% 0.00% Prospector Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Quilt Block Wind Farm II LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Rail Splitter Wind Farm II LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Rail Splitter Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Randolph Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% RE Scarlet LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% REA-C2 2016 Lessee LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Reloj del Sol Wind Farm LLC Delaware PwC 1 100.00% 100.00% 0.00% 0.00% Renville County Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% RevEnergy C2 Franklin LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% RI Abrava Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% RI- Comolli Delaware n.a. 100.00% 85.00% 0.00% 0.00% RI- Moo Cow Delaware n.a. 100.00% 85.00% 0.00% 0.00% RI Quarry Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% RI Sposato Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% RI Stainless LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Rio Blanco Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Rising Tree Wind Farm II LLC Delaware PwC 1 100.00% 51.00% 0.00% 0.00% Rising Tree Wind Farm III LLC Delaware PwC 1 100.00% 51.00% 0.00% 0.00%

144 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights Rising Tree Wind Farm LLC Delaware PwC 1 100.00% 51.00% 0.00% 0.00% Riverstart Development LLC * Delaware n.a. 20.00% 20.00% 0.00% 0.00% Riverstart Solar Park II LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Riverstart Solar Park III LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Riverstart Solar Park IV LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Riverstart Solar Park LLC * Delaware n.a. 100.00% 20.00% 0.00% 0.00% Riverstart Solar Park V LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Riverstart Solar Park VI LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Riverstart Ventures LLC * Delaware n.a. 20.00% 20.00% 0.00% 0.00% Rock Dane Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Rolling Upland Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Rosewater Ventures LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Route 13 Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Route 149 LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% RS Holyoke 3 LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% RSBF E470 I LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% RSBF Jeffco II LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% RTSW Solar Park II LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% RTSW Solar Park III LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% RTSW Solar Park IV LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% RTSW Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% RTSW Solar Park V LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% RTSW Solar Park VI LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Rush County Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Rye Patch Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Saddleback Wind Power Project LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Sagebrush Power Partners LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Sailor Springs Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% San Clemente Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Sardinia Windpower LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Sawmill Junction Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% SC Beaufort Jasper Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% SC Heathwood Hall Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% SC Southern Wesleyan Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Sedge Meadow Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Shields Drive LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Shullsburg Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Signal Hill Wind Power Project LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Simpson Ridge Wind Farm II LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Simpson Ridge Wind Farm III LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Simpson Ridge Wind Farm IV LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Simpson Ridge Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Simpson Ridge Wind Farm V LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% SLX Project 1080 LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Smart Sunscribe LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Solar Ventures Purchasing LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Soteria Solar Services LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Spruce Ridge Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00%

145 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights Stinson Mills Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Strawberry Solar Farm LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Sustaining Power Solutions LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Sweet Stream Wind Farm LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Telocaset Wind Power Partners LLC Delaware PwC 1 100.00% 51.00% 0.00% 0.00% Tillman Solar Park II LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Tillman Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% TillmaN Storage LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Timber Road II Storage LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Timber Road III Storage LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Timber Road Solar Park II LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Timber Road Solar Park III LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Timber Road Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Top Crop I Storage LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Top Crop II Storage LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Tug Hill Windpower LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Tumbleweed Wind Power Project LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Turtle Creek Wind Farm LLC Delaware PwC 1 100.00% 100.00% 0.00% 0.00% Twin Groves I Storage LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Twin Groves II Storage LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Upper Road LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% VA- Green Acres Delaware n.a. 100.00% 85.00% 0.00% 0.00% VT Stone Valley LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Waterville Solar LLC Delaware n.a. 100.00% 85.00% 0.00% 0.00% Waverly Wind Farm II LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Waverly Wind Farm LLC Delaware PwC 1 100.00% 51.00% 0.00% 0.00% Western Trail Wind Project I LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Wheat Field Holding LLC Delaware PwC 51.00% 51.00% 0.00% 0.00% Wheat Field Wind Power Project LLC Delaware PwC 1 100.00% 51.00% 0.00% 0.00% Whiskey Ridge Power Partners LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Whistling Wind WI Energy Center LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% White Stone Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Whitestone Wind Purchasing LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Wildcat Creek Wind Farm LLC Delaware PwC 1 100.00% 100.00% 0.00% 0.00% Wilson Creek Power Project LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Wind Turbine Prometheus LP Delaware n.a. 100.00% 100.00% 0.00% 0.00% Wolf Run Solar LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Wrangler Solar Park LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% WTP Management Company LLC Delaware n.a. 100.00% 100.00% 0.00% 0.00% Canada EDP Renewables Canada Ltd. British Columbia n.a. 100.00% 100.00% 100.00% 100.00% Blue Bridge Solar Park GP Ltd British Columbia n.a. 100.00% 100.00% 100.00% 100.00% Blue Bridge Solar Park Limited Partnership British Columbia n.a. 100.00% 100.00% 100.00% 100.00% Bromhead Solar Park GP Ltd British Columbia n.a. 100.00% 100.00% 100.00% 100.00% Bromhead Solar Park Limited Partnership Saskatchewan n.a. 100.00% 100.00% 100.00% 100.00% EDP Renewables Canada Management Services Ltd British Columbia n.a. 100.00% 100.00% 100.00% 100.00% EDP Renewables Sask SE GP Ltd British Columbia n.a. 100.00% 100.00% 100.00% 100.00% EDP Renewables Sask SE Limited Partnership Ontario n.a. 100.00% 100.00% 100.00% 100.00%

146 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights EDP Renewables SH II Project GP Ltd British Columbia n.a. 100.00% 100.00% 100.00% 100.00% EDP Renewables SH II Project Limited Partnership Alberta n.a. 100.00% 100.00% 100.00% 100.00% EDP Renewables SH Project GP Ltd. British Columbia n.a. 100.00% 100.00% 100.00% 100.00% EDP Renewables SH Project Limited Partnership Alberta n.a. 100.00% 100.00% 100.00% 100.00% Halbrite Solar Park GP Ltd British Columbia n.a. 100.00% 100.00% 100.00% 100.00% Halbrite Solar Park Limited Partnership Saskatchewan n.a. 100.00% 100.00% 100.00% 100.00% Kennedy Wind Farm GP Ltd British Columbia n.a. 100.00% 100.00% 100.00% 100.00% Kennedy Wind Farm Limited Partnership Saskatchewan n.a. 100.00% 100.00% 100.00% 100.00% Nation Rise Wind Farm GP Inc. British Columbia PwC 100.00% 100.00% 100.00% 100.00% Nation Rise Wind Farm Limited Partnership Ontário n.a. 49.99% 49.99% 100.00% 100.00% SBWF GP Inc. British Columbia n.a. 51.00% 51.00% 51.00% 51.00% South Branch Wind Farm II GP Inc. British Columbia n.a. 100.00% 100.00% 100.00% 100.00% South Branch Wind Farm II Limited Partnership Ontário n.a. 100.00% 100.00% 100.00% 100.00% South Dundas Windfarm Limited Partnership Ontário PwC 51.00% 51.00% 51.00% 51.00% Nation Rise Wind Farm GP II Inc. British Columbia n.a. 0.00% 0.00% 100.00% 100.00% Quatro Limited Partnership Ontário n.a. 0.00% 0.00% 100.00% 100.00% SOUTH AMERICA GEOGRAPHY / PLATFORM: Brazil EDP Renováveis Brasil, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Aventura Holding, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Amanhecer I, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Eólica Amanhecer II, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Eólica Amanhecer III, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Eólica Amanhecer IV, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Eólica Amanhecer V, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Eólica Amanhecer VI, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Eólica Amanhecer VII, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Eólica Aventura I, S.A. São Paulo PwC 51.00% 51.00% 51.00% 51.00% Central Eólica Aventura II, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Aventura III, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Aventura IV, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Aventura V, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Baixa do Feijão I, S.A. São Paulo PwC 51.00% 51.00% 51.00% 51.00% Central Eólica Baixa do Feijão II, S.A. São Paulo PwC 51.00% 51.00% 51.00% 51.00% Central Eólica Baixa do Feijão III, S.A. São Paulo PwC 51.00% 51.00% 51.00% 51.00% Central Eólica Baixa do Feijão IV, S.A. São Paulo PwC 51.00% 51.00% 51.00% 51.00% Central Eólica Boqueirão I, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Boqueirão II, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Catanduba I, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Catanduba II, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica JAU, S.A. São Paulo PwC 51.00% 51.00% 51.00% 51.00% Central Eólica Jerusalém I, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Jerusalém II, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Jerusalém III, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Jerusalém IV, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Jerusalém V, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Jerusalém VI, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Monte Verde I, S.A. Lagoa Nova PwC 100.00% 100.00% 100.00% 100.00%

147 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights Central Eólica Monte Verde II, S.A. Lagoa Nova PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Monte Verde III, S.A. Lagoa Nova PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Monte Verde IV, S.A. Lagoa Nova PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Monte Verde V, S.A. Lagoa Nova PwC 100.00% 100.00% 100.00% 100.00% Central Eólica Monte Verde VI, S.A. Lagoa Nova PwC 100.00% 100.00% 100.00% 100.00% Central Eólica SRMN I, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica SRMN II, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica SRMN III, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica SRMN IV, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Eólica SRMN V, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Central Geradora Fotovoltaica Monte Verde Solar II, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Geradora Fotovoltaica Monte Verde Solar III, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Geradora Fotovoltaica Monte Verde Solar IV, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Geradora Fotovoltaica Monte Verde Solar VI, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Geradora Fotovoltaica Monte Verde Solar VII, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Nacional de Energia Eólica, S.A. São Paulo PwC 51.00% 51.00% 51.00% 51.00% Central Solar Lagoa I, S.A. São Paulo n.a. 100.00% 100.00% 100.00% 100.00% Central Solar Lagoa II, S.A. São Paulo n.a. 100.00% 100.00% 100.00% 100.00% Central Solar Novo Oriente I, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Solar Novo Oriente II, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Solar Novo Oriente III, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Solar Novo Oriente IV, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Solar Novo Oriente V, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Solar Novo Oriente VI, S.A. São Paulo n.a. 100.00% 100.00% 0.00% 0.00% Central Solar Pereira Barreto I, S.A. Pereira Barreto PwC 100.00% 100.00% 100.00% 100.00% Central Solar Pereira Barreto II, S.A. Pereira Barreto PwC 100.00% 100.00% 100.00% 100.00% Central Solar Pereira Barreto III, S.A. Pereira Barreto PwC 100.00% 100.00% 100.00% 100.00% Central Solar Pereira Barreto IV, S.A. Pereira Barreto PwC 100.00% 100.00% 100.00% 100.00% Central Solar Pereira Barreto V, S.A. Pereira Barreto PwC 100.00% 100.00% 100.00% 100.00% Elebrás Projetos, S.A. São Paulo PwC 51.00% 51.00% 51.00% 51.00% Jerusalém Holding, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Monte Verde Holding, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% SRMN Holding, S.A. São Paulo PwC 100.00% 100.00% 100.00% 100.00% Colombia Elipse Energía, S.A.S. E.S.P. Bogotá n.a. 100.00% 100.00% 100.00% 100.00% Eolos Energía, S.A.S. E.S.P. Bogotá PwC 100.00% 100.00% 100.00% 100.00% Kappa Energía, S.A.S. E.S.P. Bogotá n.a. 100.00% 100.00% 100.00% 100.00% Omega Energía, S.A.S. E.S.P. Bogotá n.a. 100.00% 100.00% 100.00% 100.00% Solar Power Solutions, S.A.S. E.S.P. Bogotá PwC 100.00% 100.00% 100.00% 100.00% Vientos del Norte, S.A.S. E.S.P. Bogotá PwC 100.00% 100.00% 100.00% 100.00% Chile EDP Renewables Chile, SpA Santiago n.a. 100.00% 100.00% 0.00% 0.00% Los Llanos Solar, SpA Santiago n.a. 100.00% 100.00% 0.00% 0.00% Parque Eólico Punta de Talca, SpA Santiago n.a. 100.00% 100.00% 0.00% 0.00% Parque Eólico San Andrés, SpA Santiago n.a. 100.00% 100.00% 0.00% 0.00% Parque Eólico Victoria, SpA Santiago n.a. 100.00% 100.00% 0.00% 0.00%

148 2021 2020 Company Head Office Auditor % of capital % of voting rights % of capital % of voting rights ASIA GEOGRAPHY / PLATFORM: Korea OMA Haedori Co., Ltd. Korea n.a. 60.00% 60.00% 0.00% 0.00% Singapur Trung Song SG Pte. Ltd. Singapur PwC 100.00% 100.00% 0.00% 0.00% LYS Energy Investment Pte. Ltd. Singapur PwC 100.00% 100.00% 0.00% 0.00% Vietnam EDP Renewables Vietnam Company Limited Ho Chi Minh PwC 100.00% 100.00% 100.00% 100.00% Trung Son Energy Development LLC Khanh Hoa Province PwC 100.00% 100.00% 0.00% 0.00%  Loss of control in 2021 1 Audited as part of audited consolidated statements of their parent company The main financial indicators of the jointly controlled companies included in the consolidation under the equity method as at 31 December 2021, are as follows: Desarrollos Energéticos Canarios, S.A. € 15,025 Las Palmas n.a. 49.90% 49.90% Desarrollos Energéticos del Val, S.L. € 137,070 Soria n.a. 25.00% 25.00% Evolución 2000, S.L. € 117,994 Albacete PwC 49.15% 49.15% OW Offshore, S.L. € 57,519,614 Madrid PwC 50.00% 50.00% Sistemas Eólicos Tres Cruces, S.L. € 50,000 Soria n.a. 25.00% 25.00% Evoikos Voreas A.E. € 66,000 Athens n.a. 51.00% 51.00% Sofrano A.E.E € 700,000 Athens n.a. 51.00% 51.00% Moray West Holdings Limited € 1,190 London PwC 33.40% 64.20% 2017 Vento XVII LLC € 155,759,988 Delaware PwC 20.00% 20.00% 2018 Vento XIX LLC € 75,647,503 Delaware PwC 20.00% 20.00% 2019 Vento XX LLC € 206,666,495 Delaware PwC 20.00% 20.00% Flat Rock Windpower LLC € 484,142,337 Delaware KPMG 50.00% 50.00% Flat Rock Windpower II LLC € 190,558,245 Delaware KPMG 50.00% 50.00% Goldfinger Ventures II LLC € 162,629,437 Delaware PwC 50.00% 50.00% Goldfinger Ventures LLC € 124,067,123 Delaware PwC 50.00% 50.00% Nine Kings Wind Farm LLC € 0 Delaware n.a. 50.00% 50.00% Riverstart Development LLC € 0 Delaware n.a. 20.00% 20.00% Riverstart Ventures LLC € 130,231,676 Delaware PwC 20.00% 20.00% Solar Ventures Acquisition LLC € 0 Delaware n.a. 50.00% 50.00% COMPANY SHARE CAPITAL (in €) HEAD OFFICE AUDITOR % OF CAPITAL % OF VOTING RIGHTS

149 The main financial indicators of the jointly controlled companies included in the consolidation under the equity method as at 31 December 2020, are as follows: Ceprastur, A.I.E. € 360,607 Oviedo n.a. 56.76% 56.76% Desarrollos Energéticos Canarios, S.A. € 37,564 Las Palmas n.a. 49.90% 49.90% Desarrollos Energéticos del Val, S.L. € 137,070 Soria n.a. 25.00% 25.00% Evolución 2000, S.L. € 117,994 Albacete PwC 49.15% 49.15% OW Offshore, S.L. € 3,731,000 Madrid PwC 50.00% 50.00% Sistemas Eólicos Tres Cruces, S.L. € 50,000 Soria n.a. 25.00% 25.00% Moray West Holdings Limited £ 1,000 London PwC 33.40% 64.20% 2017 Vento XVII LLC € 536,689,832 Delaware PwC 20.00% 20.00% 2018 Vento XIX LLC € 493,538,562 Delaware PwC 20.00% 20.00% Flat Rock Windpower LLC € 215,034,270 Delaware KPMG 50.00% 50.00% Flat Rock Windpower II LLC € 543,598,932 Delaware KPMG 50.00% 50.00% Goldfinger Ventures II LLC € 194,656,553 Delaware n.a. 50.00% 50.00% Goldfinger Ventures LLC € 146,473,771 Delaware n.a. 50.00% 50.00% Nine Kings Wind Farm LLC € 0 Delaware n.a. 50.00% 50.00% Solar Ventures Acquisition LLC € 0 Delaware n.a. 50.00% 50.00% The Associated Companies included in the consolidation under the equity method as at 31 December 2021, are as follows: Biomasas del Pirineo, S.A. € 454,896 Huesca n.a. 30.00% 30.00% Blue Canyon Windpower LLC € 63,851,000 Texas PwC 25.00% 25.00% Desarrollos Eólicos de Canarias, S.A. € 1,817,130 Gran Canaria PwC 44.75% 44.75% Eólica de São Julião, Lda. € 500,000 Lourinhã n.a. 45.00% 45.00% Eos Pax IIa, S.L. € 6,010 Coruña Deloitte 48.50% 48.50% Geólica Magallón, S.L. € 2,040,000 Zaragoza PwC 36.24% 36.24% Parque Eólico Belmonte, S.A. € 120,400 Madrid KPMG 29.90% 29.90% Parque Eólico Sierra del Madero, S.A. € 7,193,970 Madrid KPMG 42.00% 42.00% San Juan de Bargas Eólica, S.L. € 5,000,000 Zaragoza PwC 47.01% 47.01% Solar Siglo XXI, S.A. € 80,000 Ciudad Real n.a. 25.00% 25.00% Solar Works! B.V. € 5,976,514 Rotterdam RSM Global 20.19% 20.19% Unión de Generadores de Energía, S.L. € 23,044 Zaragoza PwC 50.00% 50.00% COMPANY SHARE CAPITAL (in €) HEAD OFFICE AUDITOR % OF CAPITAL % OF VOTING RIGHTS COMPANY SHARE CAPITAL (in €) HEAD OFFICE AUDITOR % OF CAPITAL % OF VOTING RIGHTS

151 Annex II Group Activity by Operating Segment Operating Segment Information for the years ended 31 December 2021 Revenues 926,237 584,417 67,580 1,578,234 Income from institutional partnerships in North America - 177,205 - 177,205 926,237 761,622 67,580 1,755,439 Other operating income 350,068 270,218 667 620,953 Supplies and services -188,896 -156,699 -12,873 -358,468 Personnel costs and Employee benefits expenses -45,305 -89,437 -2,397 -137,139 Other operating expenses -101,150 -54,179 -4,253 -159,582 14,717 -30,097 -18,856 -34,236 Joint ventures and associates 8,822 15,151 - 23,973 Gross operating profit 949,776 746,676 48,724 1,745,176 Provisions -798 -782 16 -1,564 Amortisation and impairment -251,449 -335,108 -11,040 -597,597 Operating profit 697,529 410,786 37,700 1,146,015 Assets 6,023,039 9,694,220 755,027 16,472,286 Liabilities 688,155 1,260,641 39,517 1,988,313 Operating Investment 744,986 1,370,260 329,778 2,445,024 Note: The Segment "Europe" includes: i) revenues in the amount of 263,264 thousand of Euros from Spanish companies; ii) assets from Spanish companies in the amount of 2,228,498 thousands of Euros. THOUSAND EUROS EUROPE NORTH AMERICA BRAZIL SEGMENTS TOTAL

152 Reconciliation between the Segment Information and the Financial Statements Revenues of the Reported Segments 1,578,234 Revenues of Other Segments 10,918 Elimination of intra-segment transactions -8,694 Revenues of the EDPR Group 1,580,458 Gross operating profit of the Reported Segments 1,745,176 Gross operating profit of Other Segments 49,452 Elimination of intra-segment transactions -34,587 Gross operating profit of the EDPR Group 1,760,041 Operating profit of the Reported Segments 1,146,015 Operating profit of Other Segments 42,254 Elimination of intra-segment transactions -37,081 Operating profit of the EDPR Group 1,151,188 Assets of the Reported Segments 16,472,286 Not Allocated Assets 4,473,450 Financial Assets 2,090,731 Tax assets 553,893 Debtors and other assets 1,828,826 Assets of Other Segments 8,942,671 Elimination of intra-segment transactions -7,856,831 Assets of the EDPR Group 22,031,576 Investments in joint ventures and associates 988,522 Liabilities of the Reported Segments 1,988,313 Not Allocated Liabilities 9,384,056 Financial Liabilities 1,505,984 Institutional partnerships in North America 2,259,741 Tax liabilities 593,723 Payables and other liabilities 5,024,608 Liabilities of Other Segments 799,990 Elimination of intra-segment transactions -315,690 Liabilities of the EDPR Group 11,856,669 Operating Investment of the Reported Segments 2,445,024 Operating Investment of Other Segments 76,997 Operating Investment of the EDPR Group 2,522,021 THOUSAND EUROS

153 Income from institutional partnerships in North America 177,205 - - 177,205 Other operating income 620,953 28,233 -13,455 635,731 Supplies and services -358,468 -41,167 63,961 -335,674 Personnel costs and Employee benefits expenses -137,139 -37,120 - -174,259 Other operating expenses -159,582 71,137 -76,159 -164,604 Provisions -1,564 - - -1,564 Amortisation and impairment -597,597 -7,199 -2,493 -607,289 Joint ventures and associates 23,973 17,450 -239 41,184 Operating Segment Information for the years ended 31 December 2020 Revenues 824,236 669,387 36,497 1,530,120 Income from institutional partnerships in North America - 201,783 - 201,783 824,236 871,170 36,497 1,731,903 Other operating income 286,789 195,096 3,335 485,220 Supplies and services -158,130 -163,268 -9,080 -330,478 Personnel costs and Employee benefits expenses -32,203 -76,147 -1,498 -109,848 Other operating expenses -68,402 -50,111 -3,258 -121,771 28,054 -94,430 -10,501 -76,877 Joint ventures and associates 3,940 -186 - 3,754 Gross operating profit 856,230 776,554 25,996 1,658,780 Provisions -690 0 -12 -702 Amortisation and impairment -222,290 -358,953 -8,834 -590,077 Operating profit 633,250 417,601 17,150 1,068,001 Assets 6,010,251 8,945,159 424,778 15,380,188 Liabilities 542,984 1,051,609 54,800 1,649,393 Operating Investment 514,864 1,176,021 202,816 1,893,701 Note: The Segment "Europe" includes: i) revenues in the amount of 360,244 thousand of Euros from Spanish companies; ii) assets from Spanish companies in the amount of 2,407,017 thousands of Euros. THOUSAND EUROS TOTAL OF THE REPORTED SEGMENTS OTHER SEGMENTS ELIMINATION OF INTRA-SEGMENT TRANSACTIONS TOTAL OF THE EDPR GROUP THOUSAND EUROS EUROPE NORTH AMERICA BRAZIL SEGMENTS TOTAL

154 Reconciliation between the Segment Information and the Financial Statements Revenues of the Reported Segments 1,530,120 Revenues of Other Segments 8,945 Elimination of intra-segment transactions -10,091 Revenues of the EDPR Group 1,528,974 Gross operating profit of the Reported Segments 1,658,780 Gross operating profit of Other Segments 997 Elimination of intra-segment transactions -5,052 Gross operating profit of the EDPR Group 1,654,725 Operating profit of the Reported Segments 1,068,001 Operating profit of Other Segments -6,129 Elimination of intra-segment transactions -7,883 Operating profit of the EDPR Group 1,053,989 Assets of the Reported Segments 15,380,188 Not Allocated Assets 2,066,385 Financial Assets 1,069,010 Tax assets 255,659 Debtors and other assets 741,716 Assets of Other Segments 8,074,745 Elimination of intra-segment transactions -7,358,763 Assets of the EDPR Group 18,162,555 Investments in joint ventures and associates 474,884 Liabilities of the Reported Segments 1,649,393 Not Allocated Liabilities 6,682,416 Financial Liabilities 1,393,633 Institutional partnerships in North America 1,933,542 Tax liabilities 475,934 Payables and other liabilities 2,879,307 Liabilities of Other Segments 1,307,863 Elimination of intra-segment transactions -100,948 Liabilities of the EDPR Group 9,538,724 Operating Investment of the Reported Segments 1,893,701 Operating Investment of Other Segments 204,761 Operating Investment of the EDPR Group 2,098,462 THOUSAND EUROS

Dear Stakeholder, The World has united in the eﬀort to decarbonize and electrify the global economy, with Renewables at the core of the energy transition towards net zero. From Governments to regulators, to the private sector and civil society, there is a strong alignment and commitment to push for Renewables. The ambition and targets for Renewables are being upgraded globally, especially in EDPR key markets such as Europe and North America, but also in growing markets such as LatAm and APAC. EDPR has stepped up to the challenge and is fully committed to continue to strongly contribute and play a key role in the energy transition, a secular trend for decades to come. We have set out ambitious targets in our 2021-25 Business Plan, with a €19bn investment plan to deploy 20 GW of renewables globally across all technologies, more than doubling the Company until 2025. 2021 was a challenging year with relevant changes from a macro and market perspective, which will persist going into 2022: • COVID-19 pandemic, which continues to evolve; • Power prices, which have soared driven by the increase of gas and CO 2 prices; • Supply chain disruption, impacting major wind and solar manufacturers; • Inﬂation hikes globally, driven by higher commodity prices. Nonetheless and despite the challenging context, 2021 was a record year for EDPR and we are conﬁdent that we have laid the foundations to continue to deliver strong execution of the 2021-25 Business Plan, namely: • Capital increase of €1.5 billion successfully executed in April 2021; • Entered new onshore markets (UK, Hungary, Chile, Vietnam) and established a growth platform in APAC thorough the acquisition of Sunseap; • Continued growth in offshore with Ocean Winds reaching 1.5 GW of operating capacity and additional projects awarded in the US, UK, Poland and South Korea; • Scaled up the organization and reshaped our Management Team and operating model to leverage on EDPR’s scale to tackle growth globally; • Record additions of 2.6 GW in 2021, as we continue to ramp up our growth plan; • Secured capacity of 8.4 GW to be installed in 2021-25, already 42% of the target for the full 5-year plan; • Strong value creation on the Asset rotation program with record gains of €0.5 billion; • Record results in 2021 with EBITDA at €1.8 billion and Net income at €0.66 billion. — Message from the Chairman 4

The election in April of 2021 of the new governing bodies also represented an important milestone for EDPR’s Corporate Governance, namely: • The Board was reduced from 15 to 12 Directors; • An Independent Chairperson was elected; • Independent Directors representation in the Board was increased from 40% to 50%; • Women representation in the Board was increased from 20% to 33%; • Board committees are exclusively composed by Independent Directors. These changes clearly increased the alignment of EDPR’s governance model with the best market practices. The reinforcement, in particular, of the role of the independent directors in the governing bodies strengthens the ﬁduciary duties and stewardship responsi-bility inherent to a listed Company. As always, we continue committed to our core values and purpose and we are pleased to have been recognized as such by featuring, among other, as top 10 in S&P Global Clean Energy Index, in Bloomberg Gender-Equality Index for the second consecutive year, and we are now members of the RES4Africa Foundation, supporting the sustainable development of Africa through green energy. Moreover, EDPR has been recognised as a Top Employer in Europe for the third consecutive year, and as a Top Workplace in the US, which clearly signals how the well-being and professional growth of people represents a core element in the strategy of the Company. On behalf of EDPR’s Board of Directors, I would like to thank all our stakeholders - namely our employees, contractors, suppliers, clients, partners, and shareholders - for all the hard work and trust in EDPR. A special note to our 2,150 employees, spread across so many geographies, is entirely deserved. Their dedication, commitment and quality were absolutely critical to, within a challenging context, reach EDPR’s targets. I would also like to extend my thanks to EDPR’s Management Team for the outstan ding leadership of the organization resulting in a high level of execution, during 2021, of the 2021-25 Business Plan. This past year was challenging. But once again, EDPR was able to deliver on its targets and turn 2021 into another record year for the Company. I am fully conﬁdent that 2022 will continue to be a successful year for the Company and all its stakeholders. I would like to thank you all for the continued trust in EDPR. 5

Dear shareholders and stakeholders, 2021 was a crucial year in the decade of climate action. As the window of opportunity to limit global warming to 1.5 degrees narrows, the Climate Summit in Glasgow (COP26) gave us a glimpse of what can be achieved if everyone works together in a decisive manner with a clear sense of urgency. Countries, business leaders and civil society acknowledged that the future of the global economy is a net-zero economy. Change is the need of the hour. Governments are laying the groundwork with necessary policies which will hopefully enable renewable energy sources to reach their full potential. The European Union unveiled the Fit for 55 package to cut greenhouse gas emissions by 55% by 2030, as part of the Green Deal. In the United States, we watch closely the progress of President Biden’s Build Back Better Plan and the signed $1.2 trillion infrastructure bill to ensure a swift recovery from the COVID-19 pandemic. At EDPR, we are marching towards our commitmen to empower communities to live better and more sustainable lives, with energy that is cleaner, more reliable and affordable for all. As part of our 2021-25 business plan, we have stepped up our pledge to unprecedented targets, with 20 GW deployment of new renewables capacity and EUR 19 billion additional capital investment by 2025, doubling growth across renewables technologies, and becoming all green by 2030. Wind and solar remain at the core of our operating model, with higher aspirations for newer technologies such as offshore, storage and hydrogen. Entering new markets, growing in established ones We’ve had a strong and active year in Europe, with 30 new projects across 6 countries. We’ve commissioned our ﬁrst wind farm in Greece, and we’ve entered new onshore markets such as the United Kingdom and Hungary. The company strengthened its presence in Latin America, by entering Chile and starting the construction of the ﬁrst project in Colom- bia, the largest in the country with close to 500 MW. In Brazil, EDPR inaugurated the largest ever developed, built and operated photovoltaic project, with an installed capacity of 252 MWdc. In the US, we inaugurated the 302 MW Indiana Crossroads I Wind Farm, the largest single-phase project developed and construct- ed by EDPR in the US to-date, and also declared the start of operations at the 200 MW Riverstart Solar Park, which is currently the largest solar array by capacity in Indiana. We continue to expand our presence into the US distributed generation market, a segment that will also be a growth avenue in Asia and Brazil. Through Ocean Winds, our joint venture with Engie for offshore, we commissioned our 950 MW Moray East wind farm, the offshore largest in Scotland. The development of our 897 MW Moray West project has been ﬁnalized and we bid for the exclusive rights to develop a 1 GW project at the Caledonian seabed – which, I am pleased to say, we were successfully awarded. In continental Europe we entered the Poland offshore market. In the US, Ocean Winds won a Power Purchase Agreement for 400 MW of wind off the coast of Massachusetts. 7 — Message from the CEO 1.0

During the year, we furthered our efforts in storage and will soon start construction of our ﬁrst co-located storage facility in the US, with many more under works. We are also evaluating storage projects in markets supported by strong fundamentals in the geogra- phies where we are present today. We have reinforced our ambition on green hydrogen, establishing a dedicated business unit and aiming to invest in projects that will guarantee 1.5 GW of capacity by 2030. We have made a H 2 Zero commitment together with 27 major global companies to acceler- ate the technology development and production, and we expect our ﬁrst renewable hydrogen production in 2022 in Brazil. By the end of 2021, we reinforced our presence in the Asia-Paciﬁc region through the agreement for the acquisition of Sunseap, the largest distributed solar player and top 4 solar player in South-East Asia, taking us into 8 new markets. EDPR is now well positioned to play a relevant role out of Singapore in the APAC region – a market of 4.4 billion people, representing more than 50% of the expect- ed world demand (2020-2030), and with an estimated growth in renewables of over 120 GW/year. Leading track record on ESG Our governance is based on a solid ESG foundation, in line with global best practices. In April, shareholders approved our Board, composed of 12 members with a strong and varied professional track record, and diverse in nationalities, with 50% of independent Directors, including the Chairman, and 33% women representation. The specialisation on Corporate Governance matters was attributed to the Appointments, Remunerations and Corporate Governance Committee, with 100% of independent delegated members. Our actions are guided by our strong commitment to the 10 principles of the United Nations Global Compact, to build a more sustain- able world, aligned with the values of respect for human rights, employment, environmental protection, and the ﬁght against corrup- tion. We take pride in our contribution to deliver on the United Nations Sustainable Development Goals (SDGs) and we became a member of the RES4Africa (Renewable Energy Solutions for Africa), a foundation that supports Africa’s just energy transition. Also, EDPR’s ﬁnancial sustainable track record speaks for itself – we retained a top 10 leadership position in the Standard & Poor’s Global Clean Energy Index. Our commitment to provide an inclusive workplace for our employees and promote diversity of thought and talent were ﬁrmly acknowledged by the inclusion of EDPR in the Bloomberg Gender-Equality Index (GEI) for the second consecutive year. The pandemic has placed our employees’ mental health at the top of our priorities, fostering a balanced and sustainable work environment - inclusive, diverse and human. A renewed operating model and management team As a result of our exceptional growth and global expansion in 2021, we’ve implemented a renewed operating model across four regions: Europe, North America, Latin America and Asia-Paciﬁc. And we are leading an integrated approach to key global functions, including procurement, investment and technical engineering, to sustain competitive advantages, reinforcing leadership across markets. We have put in place a renewed management team to realise the full potential of EDPR’s enhanced scale and global footprint, while placing the company as a global people-centric organization, both agile and future-proof. People remain the cornerstone of our unique portfolio strategy. Our workforce grows alongside our business, and in 2021 our team was stronger than ever. We grew our number of employees by 24%, compared to 2020, reaching 2,150 people. We also expanded our global footprint, and our fully international teams are now disperse in 17 countries, covering 4 continents. Pivotal year of delivery In 2021, we set ambitious targets and demonstrated our extraordinary ability to deliver. We’ve started the year by successfully raising EUR 1.5 billion of fresh capital through the issuance of new shares to partly ﬁnance the capex plan. We registered a record installation of 2.6 GW additions, the highest yearly capacity ever built by EDPR, and have now a total 8.4 GW of secured capacity, representing almost 75% of our 2021-23 target additions, which clearly demonstrates our ability to deliver on our commitments. Our EBITDA totalled EUR 1.8 billion, and our net proﬁt, attributable to EDPR shareholders, reached EUR 0.66 billion, mainly driven by the successful execution of our sell-down strategy, with 4 asset rotation transactions closed in 2021. Despite volatile capital markets throughout 2021, EDPR clearly outperformed the sector with a Total Shareholder Return that was 21% above the S&P Global Clean Energy Index. 8

We ﬁnished 2021 as a truly global renewables energy player and the world's fourth-largest renewable energy producer, present in 26 markets across Europe, Latin America, North America, and Asia¹. Looking ahead The ability of our business and our people to deliver is evident in the remarkable achievements that we have collectively accom- plished in 2021. It is a huge source of pride to me, especially considering our hard work against a backdrop of continued disruption caused by supply chain crisis, inﬂation threats, volatile energy prices and the ongoing pandemic. I am conﬁdent that we will continue to succeed in our company’s mission of globally leading the energy transition and creating superior value. EDPR’s commitment to all of you, our stakeholders – investors, customers, employees, regulators and local communities - is a simple one. We shall focus on ensuring that the energy transition leaves no one behind, building a better future for the generations to come. 9 1 - Includes markets associated with the acquisition of Sunseap, pending regulatory approvals at the date of publication of this message. I thank you all for your continued trust and support. MSA

—EDPR in brief 1.1 1.1.1. Vision, Values and Commitments COMMITMENTS SUSTAINABILITY We assume the social and environmental responsibilities that result from our performance thus contributing towards the development of the regions in which we operate. We avoid speciﬁc greenhouse gas emissions with the energy we produce. We ensure the participatory, competent and honest governance of our business. PEOPLE We value professional conduct together with enthusiasm and initiative, emphasizing teamwork. We promote the development of skills and merit. We believe that the balance between private and professional life is fundamental in order to be successful. CLIENTS We place ourselves in our clients’ shoes whenever a decision has to be made. We listen to our clients and answer in a simple and clear manner. We surprise our clients by anticipating their needs. RESULTS We fulﬁl the commitments to our shareholders. We are leaders due to our capacity of anticipating and implementing. We demand excellence in everything that we do. VISION A global renewable company, leading the energy transition to create superior value. VALUES With the aim of creating value in the many areas in which we operate. HUMANIZATION SUSTAINABILITY Aiming to improve the quality of life of current and future generations. Building genuine and trusting relationships with our employees, customers, partners and communities. INNOVATION 15

1.1.3. Business Description Search for sites with top-class wind conditions or irradiance resource and analyse grid connection feasibility. SITE IDENTIFICATION AND GRID CONNECTION Optimise the layout of the asset and select the best ﬁt of equipment model based on the site characteristics. DESIGN LAYOUT & EQUIPMENT CHOICE Secure long term contracts for energy sale, guaranteeing stable and predictable cash-ﬂows. ORIGINATION Install meteorogical equipment to collect and study wind proﬁle and solar radiance. RENEWABLE RESOURCES ANALYSIS Engage with local public authorities to secure environmental, construction, operating and other licenses. OBTAIN PERMITS Find appropriate ﬁnancing for the project. PROJECT FUNDING Source major equipment and construction contracts globally. PROCUREMENT Build access roads, prepare foundations, assemble wind turbines or solar panels, construct substation. CONSTRUCTION Once wind farms and solar plants reach the end of useful life (30-35 years), wind turbines and solar panels need to be assessed and replaced. END OF LIFE EDPR increases power generated by reducing the overall number of wind turbines and replacing them with more efﬁcient machines. EFFICIENCY A better energy, a better future, a better world! START OF OPERATIONS & DELIVER CLEAN ENERGY Keep availability ﬁgures at the highest level possible and minimise failure rates. ONGOING MAINTENANCE SERVICE Monitor real-time operational data, analyse performance and identify opportunities for improvement. DATA ANALYSIS Mitigate market exposure and manage energy sales. RISK & ENERGY MANAGEMENT DISMANTLING / REPOWERING CONSTRUCTION DEVELOPMENT OPERATION To maximise the environmental positive impacts of wind and solar energy from a life cycle approach, EDPR has two main aspects in consideration when dismantling/repowe- ring a site at the end of its useful life: land restoration and proper treatment of the waste generated. • Even though EDPR works to minimise any impact on the land, the Company commits to clean up and rehabilitate the sites to return the area to its initial state. • The main waste generated are turbines which are c.80%-90% recyclable, and EDPR participates in several initiatives to ﬁnd a solution for the remaining percentage. 18

- EDPR enters Hungarian market with a 50 MW solar PV project. - EDPR presents its Strategic Update 2021-25. FEBRUARY - EDPR informs about completion of the ABB and approval of a capital increase proposal. - EDPR is a new member of the RES4Africa Foundation, supporting the sustainable development of Africa through the impulse of green energy. MARCH 1.1.4. EDPR Main Events in 2021 - EDPR informs about agreement to acquire 85% of a distributed solar platform in the US. - EDPR is included in the Bloomberg Gender-Equality Index for the second consecutive year. JANUARY - EDPR concludes the capital increase of around €1.5bn. - EDPR's Shareholders Meeting approves resolutions that contribute to a more agile, independent and diverse corporate governance structure. APRIL - EDPR completes Asset rotation deal of a 405 MW wind portfolio in the US. - EDPR informs about entry in the UK onshore market. - EDPR signs Asset rotation deal of a 221 MW wind portfolio in Portugal. JULY - EDPR informs about entry in the Chilean market with a 628 MW portfolio. - EDPR celebrates Diversity Month, reinforcing its commitment to create a diverse and inclusive environment, as well as to ensure equal access to opportunities for all. MAY - EDPR informs about entry in Vietnam with a 28 MWac solar PV project. JUNE 19

1.1.5. Stakeholder focus Listen to everyone Generating, monitoring, and maintaining commitments is considered one of the most important aspects in stakeholder rela- tionship management in order to ensure a successful business. Since its foundation, EDPR has actively listened to and es- tablished a dialogue with its stakeholder groups in order to understand their needs, gauge their opinions and respond to demands. In this context, the Company’s vision, “leading the energy transition to create superior value”, highlights the com- mitment to a greener, more sustainable future by creating superior value for all stakeholders. Within the framework of the SDG Compass and EDP Group policies, and as stated in its Stakeholders Relations Policy, EDPR aims to maintain an open and transparent dialogue with its stakeholders in order to build and strengthen trust, promote information and knowledge sharing, anticipate challenges and identify cooperation opportunities. In this regard, monitoring stakeholder groups helps in decision-making and in obtaining additional accurate information that allows the Company to meet its commitments. EDPR’s interaction commitments are consistent with those of EDP Group. These four pillars also form the basis of the Group’s annual objectives regarding stakeholder relationship management: Governance model At EDPR, stakeholder management is governed by the Stakeholder Steering Committee (SSC) and the Stakeholder Working Group (SWG), which focus on strategy and implementation at an organisational level. The SSC was formed with the aim of creating value for our stakeholders, by delivering the stakeholder end-of-year report, setting yearly objectives and formulat- ing management plans to achieve them. The SWG, a more operational team, is composed by managers from different de- partments and units and its main purpose is to implement the SSC’s plans and align on-the-ground operations with executive decisions. Following the precedent set in previous years, the Stakeholder Management Plan methodology was set up with the strategic support of the SCC, implemented by the SWG and monitored using a CRM tool. 21

22 Stakeholder map EDPR's stakeholders are those organisations or individuals that influence or are influenced by the activities and services of the Company, and are organised in four categories: Institutional, Social & Territorial Environment, Value Chain, and Market. The stakeholder map has evolved in 2021, with Landowners and Associations becoming full groups rather than subgroups and each now belonging to two categories, therefore gaining greater relevance in the map. Moreover, the Analysts subgroup was added to Financial entities. EDPR's stakeholders in 2021 are shown in the following diagram: Stakeholder support After identifying the stakeholders, EDPR established a se- ries of criteria that help the Company to classify, analyse, evaluate and readjust its relationships based on real busi- ness interests. Studying the link between variables on the social, economic and environmental relevance of stake- holders to the Company, and how EDPR impacts stake- holders in these terms, allows the Company to create a Stakeholders Matrix, identifying the expectations and de- mands of stakeholders and integrating them into the or- ganisational strategy. The matrix aims to help EDPR in decision-making and ensure added value for both parties. In addition, communication channels are used to build and consolidate collaboration, understanding, and trust, mak- ing them essential to the effective management of stake- holder relationships. For almost all stakeholders surveyed during 2021, the most used and preferred types of com- munication are e-mails, phone calls, meetings and events. Nonetheless, each group of stakeholders is allocated a specific communication channel tailored to their needs. Through a combination of these channels, along with the Stakeholders Global Survey and interviews, EDPR can ac- curately identify each stakeholder’s perceptions, expecta- tions and values, thus improving communication while strengthening relationships. 2021 achievements In 2021, EDPR conducted research in different markets (two quantitative analyses and one qualitative analysis). The Company carried out surveys for the first time in Po- land and to stakeholders mapped in 2020. Regarding the qualitative analysis, EDPR carried out in-depth interviews in France in order to contrast the results of the initial sur- vey carried out in 2019. With this, this stakeholder meth- odology has now been applied to 72% of EDPR's installed capacity by the end of 2021. Nevertheless, for EDPR it is just as important to listen to its stakeholders as it is to re- act and develop action plans that ensure value for both parties. One of the most notable projects in this regard was the toll-free telephone number made available to landowners. In the last survey conducted, landowners ex- pressed that it was not easy to contact EDPR. The Com- pany therefore decided to make a telephone number available to landowners so that they could call directly. To inform them about this novelty, a small communication campaign was implemented: a letter was sent out, which informed landowners about the new telephone number, and included a cloth bag as a gift. This telephone number can also be found on EDPR’s website and on bills.

24 1.2.2. Share performance EDPR has 960.6 million shares listed and admitted to trading in NYSE Euronext Lisbon, following the successful share capital increase concluded in April. On December 31 st 2021, EDPR had a market capitalisation of €21.0 billion, above the €19.9 billion at previous year-end, and equivalent to €21.90 per share. In 2021 total shareholder return was -3%, considering the dividend paid on April 16 th of €0.08 per share. EDPR IN CAPITAL MARKETS 2021 2020 2019 2018 Opening Price (€) 22.8 10.42 7.78 6.97 Minimum Price (€) 16.17 8.82 7.72 6.78 Maximum Price (€) 25.69 23 10.5 9.17 Closing Price (€) (adjusted for dividend and splits) 21.9 22.8 10.42 7.78 Market Capitalisation (€ Millions) 21.036 19,889 9,089 6,782 Total Traded Volume: Listed & OTC (Millions) 1,016.10 381.9 162.7 209.6 of which in Euronext Lisbon (Millions) 552.2 48 36.2 44 Average Daily Volume (Millions) 3.95 1.49 0.64 0.82 Turnover (€ Millions) 20,079 4,966 1,503 1,587 Average Daily Turnover (€ Millions) 77.85 19.32 5.89 6.22 Rotation of Capital (% of Total Shares) 106% 44% 19% 24% Rotation of Capital (% of Floating Shares) 423% 195% 83% 107% Total Shareholder Return -3% 120% 36% 12% Share Price Performance -4% 119% 34% 12% PSI 20 14% -6% 10% -12% Dow Jones Eurostoxx Utilities 4% 10% 22% 0% -4% +14% +4%

25 EDPR’s main events in 2021 1 04-Jan EDPR informs about PPA contracts secured for two solar projects in the US 2 18-Jan EDPR informs about agreement to acquire 85% of a distributed solar platform in the US 3 19-Jan EDPR informs about changes in Corporate Bodies 4 27-Jan EDPR informs about Spanish and Italian renewable energy auctions 5 12-Feb EDPR enters Hungarian market with a 50 MW solar PV project 6 22-Feb EDPR's Extraordinary General Shareholders Meeting 7 24-Feb EDPR informs about FY 2020 results 8 25-Feb EDPR - Strategic Update 2021-25 9 01-Mar EDPR secures PPA for a 204 MW wind project in the US 10 02-Mar EDPR informs about plans for a non-preemptive capital increase of c.1.5bn euros 11 03-Mar EDPR informs about completion of the ABB and approval of a capital increase proposal 12 22-Mar EDPR signs a Build & Transfer Agreement for a 200 MWac solar project in the US 13 09-Apr EDPR informs about Asset rotation transaction in the US 14 12-Apr EDPR informs about resolutions of the Board of Directors meeting 15 16-Apr EDPR informs about conclusion of the capital increase of c.1.5 billion euros 16 16-Apr EDPR informs about the payment of dividends of FY 2020 17 13-May EDPR informs about 1Q21 Results 18 28-May EDPR informs about entry in the Chilean market with a 628 MW portfolio 19 30-Jun EDPR informs about offshore projects secured in Poland 20 30-Jun EDPR informs about entry in Vietnam 21 01-Jul EDPR signs Asset rotation deal of a 68% stake in a 405 MW wind portfolio in the US for an EV of $0.7bn 22 21-Jul EDPR enters the UK onshore market with a 544 MW wind and solar portfolio 23 21-Jul EDPR signs Asset rotation deal of a 221 MW wind portfolio for an EV of €0.53bn 24 27-Jul EDPR secures 25-year PPA for a 200 MWac solar project in the US 25 28-Jul EDPR informs about 1H21 Results 26 04-Aug EDPR signs Asset rotation deal of a 149 MW wind portfolio in Poland for an EV of €303 million 27 07-Sep EDPR is awarded with PPA for 120 MW wind project at the Chilean renewable auction 28 08-Sep EDPR announces upsize to 80% stake of the 405 MW Asset rotation deal in the US 29 16-Sep EDPR secures a PPA for 128 MW of solar and wind capacity in Spain 30 20-Sep EDPR secures a 15-year PPA for a 297 MW wind project in Canada 31 25-Oct EDPR secures a 15-year PPA for a 209 MWac solar project in Brazil 32 03-Nov EDPR establishes growth platform in APAC through the acquisition of Sunseap 33 03-Nov EDPR presents 9M21 Results 34 15-Nov EDPR signs Asset rotation deal of a 181 MW operating wind portfolio in Spain 35 17-Dec EDPR through Ocean Winds secures 20-year PPA for 400 MW in the US 36 30-Dec EDPR completes Asset rotation deal of a 200 Mwac solar project in the US 37 30-Dec EDPR concludes a Build & Transfer agreement for a 302 MW wind farm project in the US Source: BLOOMBERG / EDPR

26 Organisation 1.3.1. Shareholder structure EDPR shareholders are spread across more than 30 countries, being EDP the main shareholder. Since the successful Share capital increase in April 2021, where 88,250,000 new shares were issued at a subscription price of seventeen euros per share for a share premium of twelve euros, EDPR total share capital is composed of 960,558,162 shares with a nominal value of five euros each, fully paid. All these shares are part of a single class and series and are admitted to trading on the Euronext Lisbon regulated market. Major shareholders, the EDP Group The majority of the Company’s share capital is owned by EDP Group, holding 74.98% of the share capital and voting rights. EDP Group is a vertically integrated utility company, the largest generator, distributor and supplier of electricity in Portugal, has significant operations in elec- tricity in Spain and is one of the largest private generation group in Brazil through its stake in Energias do Brasil. In the Iberian Peninsula, EDP is the third largest electricity generation com- pany and one of the largest distributors of electricity. EDP has a worldwide relevant presence, being present in 28 countries and has about 12,236 employees around the world. In the 2021, EDP had an installed capacity of 26.3 GW, generating 60.9 TWh, of which 75% came from renewables. EDP is part of sustainability indexes (DJSI World and Europe), following its per- formance in the economic, social and environmental dimensions. Its holding company, EDP S.A. is a listed company whose ordinary shares are traded in the Euronext Lisbon since its privatisation in 1997. Other Qualified Shareholders Besides the qualified shareholding of EDP Group, Blackrock Inc. - a US global investment manager - communicated to CNMV the 21 st of December 2021 an indirect qualified posi- tion, as collective investment institution, of 3.38% in EDPR share capital and voting rights. As of 31 st of December 2021, Blackrock Inc. owned 3.65% of EDPR share capital and vot- ing rights. Broad base of investors EDPR has an international base of investors. Excluding EDP Group, EDPR shareholders comprise more than 30,000 institutional and private investors spread worldwide. Within institutional investors, which represent about 96% of shareholder base (ex-EDP Group), sustainable and responsible funds (SRI) are the major type of investor, followed by invest- ment funds. EDPR is a member of several financial indexes that aggregate top performing companies for sustainability. Worldwide shareholders EDPR shareholders are spread across more than 30 countries, the United Kingdom is the most representative country accounting for 31% of EDPR shareholder base (ex-EDP Group), followed by the US, France, Germany, Portugal, Sweden and Switzerland. In the Rest of Europe, the most representative countries are Spain, Belgium, Norway and Aus- tria. Shareholders (Ex-EDP) by country EDPR shareholder structure 1.3. 24% 31% 4% 11% 7% 3% 4% 10% 4% US UK PORTUGAL FRANCE GERMANY SWITZERLAND SWEDEN RoE OTHERS 43% 50% 4% 1% 1% 1% 1% INVESTMENTS FUNDS SRI RETAIL PENSION FUNDS CORPORATIONS SOVEREIGN WEALTH OTHERS Shareholders (Ex-EDP) by type 75.0% 3.6% 21.4% EDP Blackrock OTHER

27 1.3.2. Governance Model The organisation and functioning of EDPR’s corporate governance model aim to achieve the highest standards of corporate governance, business conduct and ethics referenced on the best national and international practices. EDPR is a Spanish company listed in a regulated stock exchange in Portugal, being the regulation of its corporate organisa- tion subject to the Spanish law but trying to parallelly also comply to the extent possible with the Portuguese recommenda- tions contained in the Corporate Governance Code of the Instituto Português de Corporate Governance (“IPCG”). As such, the Company intends to comply with both legal systems but always taking into account that its personal law is the Spanish one, and that in case of discrepancy, the aim is to adopt the law that entails more protectionism for its shareholders. Considering the applicable guidelines as of this regulatory framework, EDPR’s model was designed with the aim of ensuring a transparent and meticulous separation of duties and management by the same time that provides a specialisation in the supervision functions. With this purpose, EDPR’s governance structure is comprised by a General Shareholders’ Meeting and a Board of Directors (BoD) that represents and manages the Company, which, in accordance with the law and its Articles of Association, has additionally set up two delegated Committees entirely composed its members: The Audit, Control, and Re- lated Party Transactions Committee; and the Appointments, Remunerations and Corporate Governance Committee. With the purpose of adapting this structure to the Portuguese legislation when feasible, despite the fact that, as referred, the personal law of EDPR is the Spanish one, the Company parallelly seeks to correspond it to the so-called “Anglo-Saxon” model set forth in the Portuguese Commercial Companies Code, in which the management body is a Board of Directors, and the supervision and control duties are of the responsibility of an Audit and Control Committee. This structure and its functioning enable a fluent workflow between all levels of the governance model, as each of the dele- gated Committees shall report the decisions taken to the Board of Directors, and all the Committees members are also mem- bers of the Board. Hence, this organisation allows Directors to receive the complete information at Board of Directors level in order to take the corresponding decisions and all in all ensuring in time and manner the access to all the information in order to appraise the performance, current situation and perspectives for the further development of the Company. As described, EDPR’s governance model was designed to ensure the transparent and meticulous separation of duties and the specialisation of supervision through the following governing bodies and management structure:

28 Governing bodies General Shareholders’ Meeting The General Shareholders’ Meeting is the body in which the shareholders participate. It represents the Company with the full authority corresponding to its legal personality and has the power to deliberate, vote and adopt decisions, particularly on matters that the law and Articles of Association reserve for its decision and that must be submitted for its approval. Board of Directors The Board of Directors is the body that represents and administrates the Company under the broadest powers of manage- ment, supervision and governance with no limitations other than the responsibilities expressly and exclusively granted to the jurisdiction of the General Shareholders’ Meeting in the Company’s Articles of Association or in the applicable law. EDPR’s Board of Directors shall consist of no less than five (5) and no more than seventeen (17) members (including a Chairperson), who are elected for 3 years period and that may be re-elected for equal periods. In the Shareholder’s Meeting held on Feb- ruary 22 nd , 2021, it was approved to adjust the total members of the Board of Directors of the Company in twelve (12). The commitment of EDPR with ESG best practices and with the continuous improvement of its corporate governance was again reflected in the proposals submitted for the General Shareholders' Meetings held in 2021 (February 22 nd and April 12 th ), which contributed to a more agile, independent and diverse corporate governance structure. As a result of these resolutions, as of December 31 st , 2021, EDPR’s Board of Directors was composed by twelve (12) members, of which 10 non-executive, and had an independent Chairperson. EDPR strengthened the presence of independent Directors and women, representing 50% and 33% of the composition of the Board, respectively. In addition, in line with EDPR’s commitment with the best cor- porate governance practices, 100% of the members of the delegated Committees are independent, and the specialisation on Corporate Governance matters was attributed to the Appointments, Remunerations and Corporate Governance Committee. In this context, the approved proposals for re-election and appointments of directors of the Company were the following: António Gomes Mota was appointed as Chairperson and Independent Director; Miguel Stilwell d'Andrade was appointed as Executive Vice-Chairman and re-elected as CEO; Rui Teixeira was re-elected as Executive Director and CFO; Vera Pinto Pereira and Ana Paula Marques were re-elected as Dominical Directors; Miguel Setas was appointed as Dominical Director; Manuel Menéndez was re-elected as External Director; Acácio Piloto, Allan J. Katz and Joan Avalyn Dempsey were re-elected as Independent Directors; and José Félix Morgado and Rosa García were appointed as Independent Directors. The above changes lastly contributed to better maximise EDPR’s Board participation in the management of the Company. Consequently, the Executive Committee body – which included, up to that date, the Executive Board members – was dis- solved and the remaining members were integrated in a Management Team. Executive Directors EDPR has two Executive Directors who are also Joint Directors – Miguel Stilwell d’Andrade (CEO) and Rui Teixeira (CFO) – to whom the Board agreed to delegate all the competences that can be delegated as per established under the Company Bylaws and the applicable law. Delegated Committees of the Board of Directors As regulated by the applicable Law and pursuant to the best corporate governance recommendations, EDPR has set up two specialised internal committees, which are both entirely composed by non-executive and independent Directors. Audit, Control, and Related Party Transactions Committee The main duties of the Audit, Control and Related Party Transactions Committee are the supervision of the financial infor- mation and internal control, risk management and Compliance systems. It also assumes the functions related to the analysis and, when applicable, the approval of the Related Party Transactions of the Company.

29 The Audit, Control, and Related Party Transactions Committee consists of three (3) non-executive and independent mem- bers, who since April 12 th , 2021 1 and as of December 31 st 2021, are the following: • Acácio Piloto, who is the Chairperson • Rosa García • José Félix Morgado Appointments, Remunerations and Corporate Governance Committee The main duties of this Committee are the assistance and report to the Board of Directors in the appointments, re-elections, dismissals, evaluation, and remunerations of the members of the Board of Directors and Management Team members. It also assumes the functions related to the reflection on the Corporate Governance structure of the Company and its efficiency. The Appointments, Remunerations and Corporate Governance Committee consists of three (3) non-executive and independ- ent directors, who since April 12 th , 2021 2 and as of December 31 st , 2021, are the following: • António Gomes Mota, who is the Chairperson • Rosa García • José Félix Morgado Management Structure Management Team In January 2021, the BoD agreed to create this body in order to assume the conduction and supervision of the daily activity and performance of the Company. Then, throughout the year, considering EDPR’s growth tendency and its presence in new geographies, the appropriate composition of the Management Team was analysed in order to ensure the required support of both business and technical needs. In conclusion, and particularly considering that the potential completion of the acqui- sition of Sunseap would imply the creation of an Asian-Pacific (APAC) Platform, as well as the need to standardise technical processes and criteria, it was necessary to also incorporate a technical profile in the Management Team. Following the pro- posal of the Appointments, Remunerations and Corporate Governance Committee, the BoD agreed to establish a new struc- ture for the Management Team that would entail the following composition: the CEO and CFO, the representatives of EDPR’s Platforms (Europe & LatAm, APAC and North America), and a member in charge of coordinating the technical functions. On November 2 nd , 2021, the Board of Directors acknowledged the resignation presented by Spyridon Martinis and Miguel Ángel Prado as COOs and members of the Management Team and, following the proposal of the Appointments, Remunerations and Corporate Governance Committee, approved to appoint two members for the new Management Team positions considered under the new structure: Pedro Vasconcelos as COO of the APAC platform and Bautista Rodríguez as Chief Technical Officer (CTO) & Offshore Business. Finally, on December 23 rd , 2021, following the proposal of the Appoint- ments, Remunerations and Corporate Governance Committee, the Board of Directors approved to appoint Sandhya Ga- napathy as the COO of North America, and therefore, as new member of the Management Team. As a result of the new structure applicable to the Management Team and the new appointments approved, as of December 31 st , 2021, the composition of the Management Team of EDPR the following: • Miguel Stilwell d’Andrade (CEO) • Rui Teixeira (CFO) • Duarte Bello (COO Europe & LatAm) • Sandhya Ganapathy (COO North America) • Pedro Vasconcelos (COO APAC) • Bautista Rodríguez (CTO & Business Offshore) 1 In 2021, before April 12 th , the members of this Committee were Acácio Piloto (Chairperson), António Nogueira Leite (vocal) and Francisco Seixas (vocal) 2 In 2021, before April 12 th , the members of this Committee were António Nogueira Leite (Chairperson), Francisco Seixas (vocal) and Conceição Lucas (vocal)

30 Remuneration policy EDPR’s governance model is reinforced by an incentive structure with transparent remuneration through variable remuner- ation based on key performance indicators. The definition of the proposal of the remuneration policy for the members of the Board of Directors is incumbent on Appointments, Remunerations and Corporate Governance Committee, which is appointed by the Board of Directors. The Remuneration Policy is aligned with the strategic basis of the Company (growth, risk control and efficiency) and estab- lishes that the indicators shall be set in accordance with 6 clusters: (i) Shareholders, (ii) People, (iii) Environment & Commu- nities, (iv) Assets and Operations, (v) Innovation & Partners, and (vi) Clients, though 14 KPIs, including all dimensions of EDPR‘s strategy. Each of such clusters shall have at least one indicator. For further detailed information regarding the responsibilities and roles of the different social bodies, its activity during 2021, and the Company’s up-to-date articles of association and regulations, please refer to the Corporate Governance section of the report (chapter 5) and visit www.edpr.com.

32 EDPR holding EDPR Holding seizes value creation through the dissemination of best practices in the organisation and the standardisation of corporate processes to the platforms and the business units to improve efficiency. The internal coordination model and interface with EDP Group impacts functions and responsibilities of both the Company’s processes and structure. The assign- ments of the main responsibilities and activities of EDPR Holding to fulfil their respective missions include: • Define internal structures; • Ensure a global budget and its periodic monitoring; • Manage the essential human resources; • Provide appropriate management information; • Compete for a culture of excellence throughout the Group; • Integrate risk management and compliance in each area of responsibility, ensuring the monitoring and effectiveness of controls. EDPR platforms The four platforms are defined as: Onshore Europe & Latin America, Onshore North America, Onshore Asia-Pacific and Off- shore. • Europe & Latin America Onshore platform: there are different business units where the Company operates, namely Spain, Portugal, France/Belgium, Italy, Poland, Romania and the recent additions of Greece, Hungary and UK. As for Latin America the Company operates mainly in Brazil and recently in Colombia and Chile. • North America Onshore platform: there are three business units that represent the operational regions in North Amer- ica: United States of America, Mexico and Canada. • Asia-Pacific Onshore platform: EDPR established its presence in APAC in 9 1 markets and aims to accelerate growth in the region which is one the largest markets globally. • Offshore platform: In January 2020, EDPR finalised the agreement with ENGIE to create a 50:50 Joint Venture for offshore wind that grants the development of projects in the UK, Portugal, France, Belgium, Poland, South Korea and the US. 1 Including the Asian markets related to the acquisition of Sunseap with its conclusion pending on regulatory approvals

33 1.3.4. Integrity and ethics EDPR is global energy company, focused on creating value, innovation and sustainability, which operates a business based on a commitment to excellence, serving its stakeholders and making a decisive contribution to a responsible energy transi- tion. One of its most valuable assets is its reputation, which is why EDPR is committed to carrying out all its activities ethically in the different markets in which it operates and acting on principles that derive from its identity. In this context, EDPR is committed to act in accordance with the highest ethical and compliance standards. Ethics The Code of Ethics refers to principles of action that include compliance with legislation, integrity regarding matters such as bribery and corruption, respect for human and labour rights, transparency and corporate social responsibility, including its contribution to sustainable development and its responsibility for the economic, environmental and social impacts of its de- cisions and activities. This Code is a privileged tool that frames the reflection on Ethics, but it is essentially a guide to support employees in their daily decisions when performing their job activities. It does not override the law and regulations – which must always be fully and scrupulously complied with – but rather complements them by supporting responsible decision making. In that sense, EDPR’s Code of Ethics applies to all Company employees regardless of their position in the organisa- tion and working location, and they all must comply with it. Additionally, the commitments in this Code are equally applicable to EDPR business partners, representatives and suppliers who are, in any way, entitle to act on behalf of EDPR. The Code and its regulations are published on the intranet and website of EDPR, and all employees have access to it. In addition, the new hires have to confirm its acknowledgement when they join the Company. Likewise, this Code has been widely circulated to the employees of the Group through internal communications, and specific training on Ethics is provided during the year to promote awareness. In addition, the Code has its own regulation that defines a process and channel, open to all stakeholders, to report any potential claim or doubt on the application of the Code. The Ethics Ombudsperson, an independent third party that is behind the Ethics Channel, receives the complaints and doubts submitted through this channel and investigates and documents the procedure for each of them. The appointment for this position is made by the Board of Directors and its main functions are detailed in the Corporate Governance section of this report (chapter 5). Since January 2019, the Ombudsperson of EDPR is Maria Manuela Casimiro da Silva. The Ethics Channel is an internal and external channel available on the intranet and Website of the Company and its exist- ence and functioning is also introduced in the Welcome Day presentation organised every year for the new hires of EDPR. The procedure and workflow of the claims and queries submitted through this channel is regulated under the Regulations of the Code of Ethics and the regulations of the Ethics Committee, and is detailed in the Corporate Governance section of this report (chapter 5). In 2021, there were five (5) claims submitted related to Ethical issues, of which four were considered unfounded, and one is pending the conclusion of the investigation. To support and achieve its Ethics commitments and initiatives, and with the aim of minimising the risk of unethical practices, generating transparency and trust in relationships, EDPR has approved and implemented the following during the year: • Ethics Committee: EDPR decided to revise the organisation and functioning of its Ethics Committee to ensure best practices in terms of its composition and scope of action. The main functions of the Committee are detailed in the Corporate Governance section of this report (chapter 5). The Ethics Committee is composed by the Chairman of the Appointments, Remunerations and Corporate Governance Committee, who shall chair the Committee; the Chairman of the Audit, Control, and Related Party Transactions Committee; the Ethics Ombudsperson; the Compliance Officer; the Human Resources Director; the General Counsel & Compliance of EDPR North America LLC.; and the Secretary of the Board of Directors, who shall also perform the duties of the Secretary of the Ethics Committee meetings. • Ethics survey: During the year, an Ethics survey was launched, encouraging all employees to participate to learn about the evolution of the ethical environment and to get a closer feel of how employees perceive ethics at EDPR. • Celebration of the Global Ethics Day: On October 20 th , EDPR celebrated the Global Ethics Day, and with the goal of reinforcing the ethics culture, the Ethics Ombudsperson published a message in the intranet highlighting that “Doing Good, well” is the only way to achieve EDPR's commitments included in the Code of Ethics.

34 Corporate compliance The implementation of a solid corporate culture of integrity and transparency has always been a priority for EDPR, structuring its supervision and monitoring through a regulatory compliance conduct basis and through the adoption of ethical values and principles, both consolidated as central elements of its business model. In order to lead and manage the necessary measures for this implementation and functioning, the Company has a Compliance Officer. A main objective for 2021 was the definition of a Global Compliance Model which applies to the whole EDPR Group, main- taining the idea of establishing Compliance as a strategic part of the Company’s corporate culture. In the definition of the Global Compliance Model, the Global Compliance structure has been defined and a great effort has been made to develop a robust set of policies and procedures for the Group, which include the following: • The Code of Conduct for Top Management and Senior Financial Officers, approved by the Board of Directors in July 2021, that reinforces and complements the Code of Ethics, and reflects the commitment of the people who have been given the responsibility and power to carry out the supervisory and administrative functions of the EDPR Group. • The Compliance Standard, approved by the Board of Directors in November 2021, which establishes the principles and procedural rules that govern the carrying out of the Compliance function and the specific Compliance functions of all employees. The Global Compliance Program integrates specific programs depending on the risks affecting the Group, including: • A specific Integrity Compliance Program, focused on the prevention of corruption and bribery risks: EDPR has a zero- tolerance approach to bribery and corruption and is committed to act professionally, fairly and with integrity in all business dealings and relationships wherever the Company operates. For this reason, the specific Integrity Compliance Program has as its central axis the Integrity Policy, which replaces the previous Anticorruption Policy, and was ap- proved by the Board of Directors in July 2021. The Integrity Policy has been complemented by other procedures that facilitate the application of this Policy, such as: • The Donations and Sponsorships Procedure, approved by the Management Team in June 2021. • The Offers and Events Procedure, approved by the Management Team in June 2021. • The Conflict of Interest Procedure, approved by the Management Team in June 2021. • The Integrity Due Diligence Procedure and the Procedure for relationship with Public Officials and Politically Ex- posed Persons, approved in 2020 and developed during 2021 through different electronic platforms. The creation of a technological platform for third-party analysis, which can be used by all Group employees, is noteworthy. • A specific Criminal Compliance Program, focused on the prevention of criminal risks in Spain considering the regulation in Spain. The Criminal Compliance Policy, initially approved in December 2017, was updated during 2021. • A specific Personal Data Protection Program, focused on the protection of personal data to which EDPR has access. In this context, the Company has been strengthening its management system to ensure the adequacy of EDPR Group's entities to the applicable legal requirements regarding Data Protection. The Data Protection Compliance Program has as its central axis the Data Protection Policy, approved by the Board of Directors in 2020. To this end and during 2021, a set of methodologies and procedures have been defined: • An Employees Privacy Notice, a Candidates Privacy Notice, a Website Privacy Notice, and a Cookies Management Notice approved by the Management Team in May 2021. • A Data Storage and Destruction Procedure, approved by the Management Team in May 2021. • A Security Breach Notification Methodology, approved by the Management Team in June 2021. • A Privacy by Design/Default Methodology, approved by the Management Team in November 2021. • A Data Processors Management Methodology, approved by the Management Team in November 2021.

35 Within the context of the Global Compliance Program, additional activities performed during 2021 to strengthen corporate compli- ance were: • The risk and control matrix was updated. All the areas/departments of EDPR have reviewed the assigned controls and have validated the applicable controls (self-assessment). • A Control Audit Plan was established and the controls assigned in the Plan were audited by an independent third party. • The Risk Assessment Methodology was updated in order to have a more objective risk assessment. • The reporting system to Top Management and Senior Management was improved, establishing reports about the Global Com- pliance Model to: (i) the CEO (monthly), (ii) the Audit Control and Related Party Transactions Committee (quarterly), (iii) the Management Team (yearly) and (iv) to the Board of Directors (yearly). • The entire operation and methodology for the management of the Criminal Compliance Program and the Integrity Compliance Program were compiled in an internal departmental document called Integrated Management System for Criminal Compliance and Antibribery Handbook, approved by the Compliance Officer in October 2021. Additional documents, for the support and documentation of this system, have been also drafted. All this normative development implied a strong work to make known the new policies and procedures of the Group, with training and communication in the field of Compliance having a special focus this year. Training and communication are fundamental tools to strengthen and disseminate the ethics and integrity culture. In this sense, the following activities have been developed during the year: (i) Training for all the Group employees on the Integrity Due Diligence Procedure and Procedure for relationship with Public Officials and Politically Exposed Persons; (ii) a GDPR Global Training; (iii) a Conflict of interest Procedure Training; (iv) a Gifts and Events Procedure Training; (v) a GDPR level 2 training; (vi) an Integrity Policy Training; (vii) a Criminal Compliance training; and (viii) a GDPR Roulette. During 2021, 86% of employees completed at least one course of the Ethics or Compliance trainings launched. These trainings were complemented with communication activities. In addition, specific communications have been made on: (i) Welcome Day, (ii) a communication about the GDPR Anniversary, (iii) a specific communication of Compliance in the Group maga- zine, (iv) a Speak up culture communication and (v) a communication for the Anticorruption day, among others. Additionally, EDPR has a Compliance Channel which allows any employee, supplier, contractor, client or any person or entity outside the Company, who has indications or doubts of behaviour contrary to the law and/or that may imply the materialisation of a criminal risk, to inform about it through complianceofficer@edpr.com. The bylaws of this Channel are available at the intranet and website of the Company. In 2021, 3 claims were submitted related to Compliance issues, of which one was considered as unfounded, one as founded, and one was closed 1 but its evolution must be monitored. All this development and improvements allowed EDPR to obtain the UNE 19601 and ISO 37001 certifications during the year, which further strengthen EDPR’s commitment to integrity and ethics. 1 Concluded in early 2022

40 Business Environment 2.1.1. COP 26 and “FIT for 55 package” deliver new hopes for decarboni- sation 2.1.1.1. The road to the 1.5 degrees goal The United Nations Conference of Parties met in Glasgow from October 31 to November 13 for its 26 th annual summit (“COP 26”). It resulted in the “Glasgow Climate Pact”, that, if implemented, would make substantial progress toward the Paris Agreement goals. The Agreement resolves “to pursue efforts to limit the temperature increase to 1.5ºC”. Preliminary analysis seems to be showing that the full implementation of current pledges and commitments could prevent temperatures from rising more than 2 degrees. At Glasgow, each participating country also agreed to revisit its emission target for 2030, in order to pursue the 1.5ºC commitment. However, experts also warn that without the appropriate policies, the goal could soon slip out of reach. Global warming in 2021 According to the Global Carbon Project (GCP), global carbon dioxide (CO2) emissions in 2021 will be 0.8% below the 2019 level (historical maximum) but 5% above from 2020’s level. As emissions continue to accumulate in the atmosphere, the world is closer to crossing the 1.5°C warming threshold. According to the European Union’s Copernicus Climate Change Service, 2021 was the world’s fifth hottest on record. The global mean temperature in 2021 was around 1.1-1.2°C above the 1850-1900 average. Some regions around the globe experienced in 2021 record temperatures and deadly heat (the Pacific Northwest and south- western Canada recorded historically high temperatures that surpassed 38ºC). The climate crisis also materialized in large wildfires with catastrophic consequences in California, Turkey, Greece ad even in Siberian Russia. Other countries, like Can- ada, the US, Germany and China suffered from extreme rainfall that triggered deadly floods. German reinsurance Munich Re published a report indicating that the cost from 2021 climate disasters amounted to US$ 280 billion globally, the second-most costly year on record. The report noted that the highest share of these costs incurred in the US, which was ravaged by hurricanes (in particular Hurricane Ida), and battered by floods and tornadoes. At COP 26, more than 40 countries also signed the “Global Coal to Clean Power Transition Statement” leading to the “end of coal” by 2030 (for major economies) or 2040 (or “as soon as possible thereafter” for the rest of the world). Although it was seen as a major breakthrough, the pledge is expected to have limited impact on coal retirements as signatories represent less than 15% of total installed coal-fired power. Nevertheless, the pledge marks the first time that countries gather together to discuss the end of unabated coal and inefficient fossil fuel subsidies. Negotiators at the UN Climate Summit also reached a deal on the “rulebook” for a future carbon market, closing the biggest loopholes in particular, in terms of double counting of emission reductions. At the heart of the agreement, parties reached a compromise to enable the use of credits generated under the CDM 1 scheme during the period 2013-2020. Parties also de- cided that 5% of proceeds from carbon offsets from the new global carbon trade will be used to support developing countries in adapting to climate change. In addition, 2% of the offset credits will be cancelled, to ensure an overall win for the atmos- phere. 1 The Clean Development Mechanism is a United Nations-run carbon offset scheme allowing countries with emission-reduction targets under the Kyoto Proto- col to implement an emission-reduction project in a developing country, earning saleable Certified Emission Reductions credits (CERs) 2.1.

41 Net zero targets The implementation of national net zero emissions commitments can play a crucial role in achieving the Paris Agreement 1.5ºC target. Therefore, an increasingly number of countries are announcing pledges to achieve net-zero emissions over the coming decades. While some countries have proposed these targets, others have formally codified them in law. As of De- cember 2021, more than 70 countries have made net-zero targets, including the European Union (2050), the US (2050), Brazil (2050) China (2060) or India (2070). These countries represent more than 70% of global carbon dioxide emissions 2 . At European level, on June 28 th , the European Council signed off the EU Climate Law, which sets a goal of carbon neutrality by 2050 and provides for a reduction of 55% in greenhouse gas emissions by 2030 (in relation to 1990 levels). The President of the European Commission (EC), Ursula von der Leyen, described as the “law of laws”, crucial for achieving the European Green Deal and making Europe the first carbon-neutral continent. On July 14 th , the European Commission adopted the “Fit for 55”, a package of legislative proposals that will align the EU’s climate, energy, land use, transport and taxation policies with the new emission target. Overall, the package contains proposals for strengthening eight existing pieces of legislation as well as five new initiatives. Reactions from the European Energy Associations Wind Europe strongly supported the 40% RES target and calculated that the EU will need 433-452 GW of wind power capacity by 2030, nearly a threefold increase on the 179 GW installed at 2020YE. However, the association stressed the need to improve permitting procedures to achieve the new targets. Solar Power Europe welcomed the Fit for 55 package and calculated that the current target would correspond to 660 GW of solar power installed by 2030. Nevertheless, the Association maintains that a 45% RES target (binding at EU and national level) is necessary to be on track to deliver on the 1.5ºC Paris Agreement scenario. One element of the Fit for 55 package is the revision of the Renewable Energy Directive (RED II), increasing the current renewable target (32% by 2030) up to a 38%-40%, together with new sectoral targets. Another key component of the package is the comprehensive revision of the EU Emissions Trading System (ETS). The goal is to increase the scope of the carbon trading to cover emissions from shipping, buildings and road transport. In addition, along other measures, the EC proposes to lower the overall emission ceiling and to increase the annual rate of emission reductions. On top of that, the EC proposed to include a carbon border adjustment mechanism (CBAM) to tax high-carbon imports, such as steel and cement. Within the Fit for 55 package, the Commission also proposed to revise rules on CO2 emissions for cars and vans, proposing a net target of 100% reduction by 2035. Thus, from 2035 it will no longer be possible to sell cars or vans with an internal combustion engine on the market in the EU. Other existing legislations that will need to be revised are the Effort Sharing Regulation, the Energy efficiency (EED) and the energy taxation directive (ETD). All the proposals included in the package will now be discussed in the European Council and the European Parliament and by Member States’ governments. These negotiations are expected to last more than two years as the ultimate deadline is the May 2024 European Parliament elections. 2.1.1.2. Renewable energy is the future 2021 is on course to break a global record for renewable energy growth, according to the International Energy Agency (IEA), with 290 GW of additional capacity expected. Solar remains the major contributor with around 160 GW, more than half of all the expected additions. 2 Source: International Energy Agency, World Energy Outlook 2021. The report is dated October 2021, and since then, other countries have announced net- zero pledges, and therefore, the 70% figure could prove to be higher

42 For the medium and long-term, prospects are also excellent. Wind and solar PV capacity are on track to overtake natural gas in 2023, and coal in 2024, becoming the largest source of electricity generation worldwide in 2025. Overall, according to the different analysts, the share of renewables in power generation will range between 38% and 54% (comparing to 29% in 2020). These excellent projections are supported by their cost competitiveness (onshore and PV are already the cheapest technol- ogies), technologies’ improvements, economies of scale, competitive supply chains and a growing developer experience, among others. However, other recent development are expected to accelerate renewables’ growth. Green Hydrogen momentum: “Green hydrogen”, the hydrogen produced by splitting water into hydrogen and oxygen using renewable electricity, seems to be gaining momentum. Indeed, in 2021, a rapid progress in projects announcement and electrolyser manufacturing ca- pacity has been observed. According to the IEA, by October 2021, the announced electrolyser manufacturing capacity project pipeline has reached over 260 GW worldwide. According to experts, hydrogen could help to unlock the full potential of re- newable energy, as the majority of planned projects consider hybrid wind, solar PV and battery storage plants for hydrogen production. Also, there is a huge potential regarding the hard-to-electrify sectors, such as shipping, aviation, industry and buildings. The IEA forecasts that current projections could drive to an additional 475 GW of wind and solar PV capacity, which will mostly been dedicated to hydrogen production. Battery storage: The global storage market is growing at an unprecedented pace. Indeed, renewables-plus-storage and stand-alone projects are becoming commonplace in an increasingly number of countries. According to the International Energy Agency, battery storage capacity additions in 2020 rose to a record-high 5 GW (reaching around 17 GW of installed capacity). This astound- ing growth was primarily driven by the increasing capacities of batteries and the sharp cost reductions According to the IEA, utility-scale batteries are expected to increase sixfold over the period 2020-2026. The explosion of the storage market is helping to integrate a higher share of variable energy sources in the power systems, which is key to unlock the full potential of variable renewables and ultimately, achieve decarbonization targets. Battery storage systems are well suited to be cou- pled with variable renewables, as they allow an efficient flow of power to be maintained despite the intermittent nature of wind and solar sources. Batteries help to resolve the intermittence issue by capturing power when renewable energy sources are producing and releasing it when energy demand soars. By smoothing imbalances between supply and demand, batteries can replace fossil fuel peaker plants, avoiding greenhouse gas emissions. In addition, batteries can also provide a range of benefits and support functions to the power grid, facilitating a higher integration of renewables in the power systems, in- cluding frequency regulation, ancillary services, voltage support, emergency response systems, among others. Distributed solar PV: In addition to utility-scale solar PV deployment, distributed solar PV is increasingly gaining the attention of both governments and private players. Although utility-scale solar PV is expected to account for 60% of additions over the next 5 years, annual additions of distributed PV are also expected to experience and unprecedented growth. According to the IEA forecasts, total distributed PV additions in the period 2021-2026 will be similar to onshore wind’s (421 GW vs 451 GW respectively) and almost twice as much as offshore wind and hydro together (421 GW vs 245 GW). The Asia-Pacific distributed solar PV market is the one showing the highest potential. Rising environmental concerns, favourable policies, increasing affordability, high cost of grid expansion and land constraints, seem to be the main drivers in the region. According to a study conducted by Wood MacKenzie, in Asia Pacific (ex-China), distributed solar is expected to be the most popular option, accounting for more than 60% of new solar PV additions.

43 2.1.2. The evolution of renewables around the world in 2021 Wind Global wind additions are expected to remain strong in 2021 3 , with analysts 4 forecasting around 81-93 GW of new capacity. If confirmed, total additions would probably slightly drop from the record-breaking installations seen in 2020 (93 GW), but considerably above the average of the last 5 five years. In 2021, the offshore wind sector continued on its astonishing growth trajectory. While analysts were forecasting around 11-14 GW of new installations worldwide, China reported that the country alone had commissioned 16.9 GW of new off- shore capacity, which represents nearly half the world’s total installed capacity in 2020YE. Therefore, worldwide offshore wind installations could amount to more than 20 GW, meaning that around 15-20% of total wind additions could have been offshore (the largest share ever). China remains the largest offshore market, as 16.9 GW were installed in 2021, reaching a cumulative total offshore capacity of around 27 GW. Other large markets include Vietnam (~0.7 GW commissioned), Neth- erlands (~1.1 GW) and Denmark (~0.6 GW). In total, around 55 GW of offshore wind could be operating worldwide. Overall, China has connected 48 GW of wind (and therefore, around 50% of worldwide wind additions), according to the National Energy Administration. It remains the largest onshore wind market and has also become the largest offshore wind market, overtaking the UK. In Europe, 2021 is on track to become a record year in wind installations. According to Wind Europe 5 , new wind facilities could account to 19.5 GW, mainly due to the high amount of projects that had suffered delays from the pandemic. 2021 could also prove to be a good year for offshore wind installations, with around 2-4 GW forecasted. Germany and Sweden are expected to remain the largest onshore markets, while Netherlands, Denmark and the UK could show positive offshore results. In Spain, wind became the leading energy source, overtaking nuclear and covering around 23% of total generation. In the US, renewables dominated new generating capacity additions in 2021. According to the American Clean Power As- sociation, 7,248 MW of wind were installed in the first nine months of 2021. Latest data show that the cumulative wind power capacity amounts to 129 GW. In addition, the wind industry currently has around 40 GW of wind projects in the pipeline, of which 14 GW correspond to offshore wind projects, suggesting that the offshore sector is set to take off. Solar PV 2021 is on course to break a global record for solar PV growth. According to the International Energy Agency (IEA), nearly 160 GW of new solar facilities could have been connected 6 , despite skyrocketing commodity prices and supply chain disrup- tions. With those additions, nearly 900 GW of solar PV could be operating worldwide. The IEA stresses that solar PV, the so-called “new king of the world’s electricity markets”, is becoming increasingly competitive. Other analysts consulted are forecasting 2021 additions ranging 145-183 GW and most of them believe that the 200 GW landmark could be surpassed as soon as in 2022. Utility-scale projects are expected to remain the engine of growth (in 2021, they represented around 60% of total solar PV additions). China remains the largest solar PV market worldwide, with around 53 GW 7 of solar PV installed in 2021, above the previous year one (48.2 GW). The cumulative solar capacity reached 306 GW at the end of 2021, according to the latest data of the National Energy Administration (NEA). Other major markets in Asia include India (11.3 GW expected in 2021), Japan (6.1 GW) and Republic of Korea (4.1 GW). According to preliminary estimations provided by Solar Power Europe, the European Union could have added 25.9 GW of new solar PV capacity, becoming the best year in history. As in 2020, Germany was again Europe’s major solar market in 2021 with 5.3 GW of newly installed capacity, followed by Spain (3.8 GW), the Netherlands (3.3 GW), Poland (3.2 GW) and France (2.5 GW). 3 At the time of preparation of this report, final data from the Global Wind Energy Council (GWEC), the American Clean Power Association (ACP) or Wind Europe, had not been released 4 Experts consulted include: GWEC, IHS markit, Bloomberg New Energy Finance, Wood MacKenzie, IEA, Wind Europe and American Clean Power Association, among others 5 Wind Energy in Europe Statistics, 2020 6 “Renewables 2021”, published in December 2021 7 According to the National Energy Administration

46 EDPR NA Regulatory and Market Environment: EDPR operates in most of the electricity markets in the US, Canada and Mexico. The nature of regulations and market rules vary from market to market with different degrees of influence from Federal and State/Provincial regulators in each market. The opportunities and constraints for EDPR assets and prospects are significantly defined by these regulations and market rules. Regional Transmission Organizations (RTO), Independent System Operators (ISO) exist throughout much of North America to operate a region's electricity grid, administer the region's wholesale electricity markets, and provide reliability planning for the region's bulk electricity system. RTOs carry additional responsibility for the region’s transmission network. US markets with RTOs and ISOs fall under greater Federal influence through the Federal Energy Regulatory Commission (FERC) which results in more transparent tariff and market rules. Regulation and market rules for regions not in RTO/ISO footprints tend to be influenced by various combinations of entities including State regulators, vertically integrated utilities, municipal govern- ments, and Federal Agencies. In general, EDPR seeks to build assets in North American markets where long-term contracts are available for the bulk of the output of its generation facilities. In addition to electrical power, EDPR facilities can produce capacity and ancillary ser- vices in regions with demand for these products. Many states have enacted Renewable Portfolio Standards (RPS) require obligated entities to provide a certain percentage of their energy supply from qualifying renewable sources, similar to the Renewable Energy Directive in the EU. Over the last few years, North American states have expanded these targets such that renewable portfolio standards in over fifteen states require 50% or more of their energy supply to be delivered via re- newable resources in the next ten to twenty years. Further, more than ten states have set requirements to achieve 100% clean energy supply by 2050. Certain facilities within the EDPR wind and solar portfolio, given their location, produce Re- newable Energy Credits (REC), Certificates of Clean Energy (CEL) and other environmental attributes which are typically sold, along with the energy, capacity, and ancillary services, from the plants under long-term contracts. These RECs generated via renewable production may also be sold separately from the wind and solar generation, if not already included in the long- term contracts. The party owning the RECs is solely entitled to the benefits of the environmental attributes. US federal, state and local governments have established various incentives to support the development of renewable en- ergy projects. Included in these incentives are the Investment Tax Credit (ITC), Production Tax Credit (PTC), cash grants, and tax equity financing. Pursuant to the US federal Modified Accelerated Cost Recovery System, wind and solar projects are fully depreciated for tax purposes over a five-year period even though the useful life of such projects is generally much longer than five years. Owners of utility-scale wind facilities are eligible to claim the ITC upon initially achieving commercial operation or PTCs for generation from qualifying facilities. The PTC is awarded based on the volume of electricity produced by the wind facility during the first ten years of commercial operation. This incentive was established by the US Congress as part of the 1992 Energy Policy Act and has been extended several times, most recently as part of the $1.4 trillion omnibus and COVID-19 relief package. The ITC and PTC levels for a given facility depend on that facility’s start of construction date and commis- sioning date and remain fixed at this level for the first ten years of operation.

47 Strategy The World is joining forces to face global warming, one of the major challenges that currently threatens the planet, that if not controlled might have irreversible consequences. There is an undeniable new private and social commitment demanding and supporting an unparallel renewables growth to meet the requirements for a decarbonized and electrified world in which a clean, affordable and reliable energy sector is at the centre of the economy. This will inevitably lead to an unparalleled growth of renewable energy that is expected to be supported by a continued decrease in renewable’s costs. EDPR has extensive experience in the sector and a track-record in delivering its targets, often ahead of schedule, and is prepared to deliver on a new and even more ambitious plan. EDPR’s new Business Plan for the 2021-25 period will be based on a strategy focused on accelerating growth, supported by the value generated by its ongoing Asset rotation strategy and performed by its proven high quality teams and efficient operations based on sustainable excellence across all ESG dimensions. EDPR Business model to deliver solid and ambitious growth targets through 2025 positioning to successfully lead a sector with increased worldwide relevance. 2.2.

48 2.2.1. Growth Accelerated and selective growth is the key principle behind EDPR’s investment selection process, with new projects having long-term PPAs or CfDs secured or awarded through long-term contracts under stable legal and regulatory frameworks. As presented in February 2021, EDPR plans to double its installed capacity and add 20 GW for the 2021-2025 period, of which 8.4 GW is already secured. EDPR will diversify its portfolio geographically and technologically even more, developing more wind onshore, solar, wind offshore and storage technology along with the entrance in new markets. Geographical distribu- tion of the 20 GW will translated to 45% in North America, 35% in Europe, 15% in Latin America and 5% in Other geographies (now Asia-Pacific), while technological distribution will result in 45% additions on wind onshore, 40% in solar PV, 7% in solar DG, 5% in wind offshore and 2% in storage. 2.1.1.1 The creation of a new platform EDPR Business Plan 2021-25 foresaw that ~5% of the overall 2021-25 investment would be directed to new markets in order to develop optionality and diversify EDPR portfolio. Key criteria when assessing new markets are having strong fun- damentals, stable legal and regulatory frameworks, growth potential, large market size and visibility on low-risk contracted remuneration. APAC is one of the largest and fastest growing renewables market globally with expected additions of 120 GW/p.a. on average until 2030 (55% of global additions) and Solar will represent ~65% of these additions, split between PV and DG. Therefore, besides announcing the entrance in Vietnam through an acquisition back in June 2021, EDPR agreed to acquire Sunseap, a solar focused platform based in Singapore, with presence in 9 markets. With a total of 0.6 GW operating and under construction, Sunseap is the largest distributed solar player and top 4 largest solar player in SEA. Also, Sunseap brings a strong footprint in APAC and encompasses a best-in-class development team with demonstrated innovation and technical expertise and proven track record. With this remarkable reputation as an operator, Sunseap is fully aligned with EDPRs growth plan and within the investment contemplated for new geographies allowing EDPR to leverage on Sunseap and accelerate growth in Asia-Pacific both in Solar and Wind.

50 2.2.2. Value EDPR ongoing Asset rotation model has been a cornerstone of EDPR’s strategy and its success has been key to crystallize value upfront to redeploy and fund accretive new growth opportunities. The Asset Rotation model relies on a combination of the cash generated from operating assets and EDPR’s strategy of selling majority stakes in projects in operation or under development, along with the US Tax Equity structures to finance the profit- able growth of the business. This model allows the Company to crystalize value upfront while recycling capital to reinvest in other projects. Value: Ongoing Asset rotation strategy Proceeds from selling majority stakes in operational or under development assets are also important sources of funds for the self-funding model of EDPR in financing its profitable growth. Under this strategy, EDPR sells majority stakes in projects in operation or in late stage of development, allowing the Company to recycle capital, with up-front cash flow crystallization, and create value by reinvesting proceeds in accretive growth, with the option to provide operating and maintenance services. On the top of these, the Asset rotation strategy makes visible the value creation on reported financial statements, with capital gains being booked in the income statement. EDPR value creation assumption expects to deliver c.€0.3 billion p.a. projected for 2021-25 Business Plan period. In 2021, EDPR already announced the signing of c.€2.6 billion out of the €8.0 billion of Asset rotation proceeds for 2021-25.

51 2.2.3. Excellence One of the strategic pillars that has always been a cornerstone of the Company, setting it apart in the industry, is the drive to maximise the operational performance of its wind and solar plants though excellence and the experience from its quality teams. EDPR has flexibility on managing the full value chain to deliver competitive and quality projects at the highest excel- lence standards, while guaranteeing the compliance with the best ESG standards. Development: Competitive Projects EDPR leverages on its local development knowledge and multi-partnership network to find and develop competitive and quality projects. The Company’s second to none energy assessment track record, experienced PPA origination teams and efficient site layouts are set to maximize the output of each and every project, both operational and financial wise. Construction: On time and on budget EDPR’s global scale provides competitive procurement over the whole portfolio. Its long-term business with top tier suppliers becomes a scarce asset nowadays, accounting with more than 20 years of relationships, it brings EDPR the best market opportunities. The large experience in years and MW of EDPR’s E&C team, leverage on agile project management, focused in deliver “On time and on budget” new projects to the portfolio. Operations: Excellence in asset management EDPR’s unique O&M strategy has allowed the Company to increase internalization post-warranty, therefore resulting in service price reductions and flexibility to choose today on an asset by asset basis the most competitive choice between insourcing or outsourcing. During the 2021-25 Business Plan, EDPR is committed to reduce its Core Opex/ avg. MW by -2% CAGR. Setting targets for ESG excellence throughout the value chain

53 Risk Management In line with EDPR’s controlled risk profile, Risk Management process defines the mechanisms for measurement and man- agement of risks and opportunities impacting the business, increasing the likelihood of the Company in achieving its financial, operational and sustainability targets, while minimising fluctuations of results. Risk management process EDPR’s Enterprise Risk Management Process is an integrated and transversal management model that ensures the minimi- sation of the effects of risk on EDPR's capital and earnings, as well as the implementation of best practices of Corporate Governance and transparency. EDPR’s Enterprise Risk Management Process is inspired on Basel Committee on Banking Supervision’s principles, guidelines and recommendations. The process aligns EDPR’s risk exposure with the Company’s risk appetite. Risk management policies are aimed to mitigate risks, without ignoring potential opportunities, thus, optimising return versus risk exposure within predefined risk appetite limits. Risk management is closely followed and supervised by the Audit, Control and Related Party Transactions Committee, an independent supervisory body composed of non-executive members. It is also endorsed by the Management Team, sup- ported by the Risk Committee and implemented for investment and day-to-day decisions by all managers of the Company. EDPR created three distinct meetings of the Risk Committee, separating discussions on execution of mitigation strategies from those on definition of new policies, in order to help decision-making: • Restricted Risk Committee: Held every month, it is mainly focused on development risk and market risk from selling energy (electricity price, basis, profile, GCs and RECs). It is the forum to discuss the evolution of projects under devel- opment and construction and the execution of mitigation strategies to reduce merchant exposure. It also monitors compliance with risk thresholds defined within risk policies (market risk, counterparty risk, operational risk and country risk). • Financial Risk Committee: Held every quarter, it is held to review main financial markets risks (exchange rates, interest rates and inflation), liquidity risk and credit risk to financial institutions and discuss the execution of mitigation strate- gies. • Risk Committee: Held every quarter, it is the forum where new strategic analysis is discussed, and new policies and procedures are proposed for approval to the Management Team. Additionally, EDPR’s overall risk position is reviewed, together with EBITDA@Risk and Net Income@Risk. 2.3.

56 Risk analyses highlights during 2021 The increase in commodity prices during 2021 required additional analyses to assess a balanced market risk position: • Increase in energy prices: EDPR had no benefit for the general increase in energy prices during 2021, as merchant energy was already sold at fixed prices. The relevant rise in prices demonstrated the asymmetry between long and short positions. Given 2021 market evolution, EDPR reassessed the optimal hedged position to account for this asym- metry and adjusted the position within 2021 and in future years. • Increase in commodity prices: Metals and fuel prices significantly increased during 2021, implying an increase in Capex. Most of the projects approved at EDPR with a PPA at a fixed price had already the Capex secured. Nonetheless, EDPR Global Risk defined the methodology for a potential execution of a commodity price hedge in those projects where Capex is not secured at the moment of PPA signing. In 2021, EDPR tested the possibility of using weather derivatives to hedge volatility of wind production at a portfolio level. Once market risk from energy prices is hedged, volume risk concentrates most of the market risk and a great portion of Net Income @Risk, hence, the interest of hedging production volumes. Considering that the Distributed Generation activity was added to EDPR in the North American markets within 2021, the Company performed a back testing of its Counterparty Risk Policy to assess its effectiveness and to propose some adjust- ments for this new activity. During 2021, EDPR reassessed the Operational Risk of the company, executing a bottom-up analysis across all departments, as stated in EDPR’s Operational Risk Policy. Following the growth of the installed capacity at EDPR in recent years, together with the planned growth within the new Business Plan 2021-25, the Operational Risk risk threshold was accordingly ad- justed in EDPR’s Operational Risk Policy and Enterprise Risk Management framework. Finally, EDPR updated its view on the sustainability of Renewable Energy Sources policies in the geographies where the Company is present and in new potential geographies. EDPR risk matrix by financial impact EDPR Risk Matrix is a qualitative assessment of likelihood and impact of the different risk categories within the Company. It is dynamic and it depends on market conditions and future internal expectations.

57 EDPR ESG risks The commitment to foster a sustainable development has been one of the core values of EDPR’s strategic agenda, with clear and demanding objectives for the future. Accordingly, the Company promotes clean energy delivering superior value through a solid business model operated with the highest ESG standards. In this context, EDPR has identified five potential risk factors key to the ESG practices of the Company. The highest standards have been put in place to mitigate these risks: • Environmental Risk: As stated in its Environmental Policy, EDPR seeks to prevent, correct or compensate the potential impact of its activities on the environment through a set of commitments that ensure the implementation and mainte- nance of an effective Environmental Management System (EMS). Following the reference provided by the international standards ISO 14001:2015 and ISO 45001:2018, EDPR merged the Environmental with the H&S management systems for a more global and efficient approach, simplifying processes and managing the potential risks of its activity. The Health, Safety and Environment Management System (HSEMS) was certified by an independent certifying organisa- tion. More information regarding how EDPR addresses and mitigates this risk is available at the Natural Capital section of the report (subchapter 3.5.). • Human Resources Risk: At EDPR, it is top priority to promote fair labour practices throughout the employees’ journey in the Company by integrating the human capital aspects in planning and decision-making, optimising employment policies and labour practices and implementing its actions considering an active listening of the employees. Accordingly, EDPR strives to attract and retain talent, bringing in the right skills to address current and future business challenges while guaranteeing non-discrimination during all the selection processes, and has an Onboarding Policy for new hires detailing the process to follow when integrating a new employee in the Company. In addition, EDPR regularly imple- ments measures and campaigns important for the employees professional and personal experience such as providing an individualised value proposition, creating top-class working conditions, supporting their wellbeing and families, fos- tering volunteer activities and promoting diversity and inclusion. Lastly, the growth and development of the EDPR’s business leads it to invest in the employees by improving and emphasising the potential of each mainly through internal mobility, training and development actions. The Human Capital section of the report (subchapter 3.2.) and the Human Rights & Labour Practices section of the report (subchapter 3.4.2.) include further information on how EDPR addresses and mitigates this risk. • Health and Safety Risk: The health, safety and wellbeing of those who contribute to EDPR’s activitiesare a priority for the Company. These commitments are firmly set in the Occupational Health & Safety Policy and implemented through the Health & Safety Management System. Following the reference provided by the international standards ISO 14001:2015 and ISO 45001:2018, EDPR merged the Environmental and H&S management systems for a more global and efficient approach, simplifying processes and managing the potential risks of its activity. The HSEMS was certified by an independent certifying organisation. The Health & Safety section of the report (subchapter 3.4.1.) addresses how EDPR mitigates this risk. • Human Rights Risk: EDPR has committed, through its Code of Ethics, to respect and undertake to promote Human Rights internally, in its suppliers, customers and local communities, by guiding its actions according to the Universal Declaration of Human Rights and international conventions, treaties or initiatives, such as the Conventions of the In- ternational Labour Organisation, the United Nations Global Compact and the Human Rights Council’s Guiding Princi- ples for Companies. The Human Rights & Labour Practices section of the report (subchapter 3.4.2.) includes further information on how EDPR addresses and mitigates this risk. • Corruption and Fraud Risk: EDPR has implemented a Code of Ethics, an Integrity Policy and a Global Compliance Program (which includes an Integrity Compliance Program, a Criminal Compliance Program for Spain, a Global Data Compliance Program, and local Compliance Program according to regulations). The Code of Ethics, which was updated and then published earlier in the year, has its own regulation that defines a process and channel, open to all stakehold- ers, to report any potential claim or doubt on the application of the Code. The Ethics Ombudsperson is behind this communication channel, and is responsible for analysing and presenting to the Ethics Committee any potential ethical problem. EDPR’s Integrity Policy, which implies a series of procedures regarding the relationships of EDPR employees with external parties, is available at EDPR’s website and intranet, and all new hires must acknowledge the reception of the Policy when they join the Company. Lastly, EDPR has a Compliance Program with the goal of developing a robust set of policies and procedures for the Group. The Compliance Channel is also available to report any questionable practice and wrongdoing. The Integrity and Ethics section of the report (subchapter 1.3.4.) includes further information on how EDPR addresses and mitigates this risk.

58 The quantification of the financial impact on the Company’s performance of these five ESG risk factors is included within the Operational Risk analysis. EDPR frequently evaluates the economic impact of its Operational Risk, following the guidelines of Basel III. The analysis includes the identification, estimation and mitigation of individual operational risks belonging to the short, medium and long term in all its geographies. For this purpose, EDPR takes into account present and future relevance of these risks, as well as historical data of their impact, with the help of department heads. The final results of the Operational Risk analysis are then communicated to the Management Team and shared with every department involved. During 2021, the economic valuation of Operational Risk at EDPR was reassessed and none of the five ESG risk factors had a material financial impact on the Company’s performance. Emerging risks at EDPR Changes in weather resources patterns at a global level caused by climate change Academic papers have been published regarding how weather patterns have changed in recent years due to global warming and whether these changes may remain in the long run. There has been no clear conclusion, but it might imply that some regions will have weaker resources in the future, leading to drops in expected energy production, while some others will be experiencing an increase in energy production. Moreover, the deployment of a high density of windfarms and solar parks in a region, both onshore and offshore, might affect the patterns itself. In order to mitigate this wind energy production risk, when evaluating a new investment, EDPR considers stressed changes in forecasted energy production. In addition, the geographical diversification of EDPR portfolio mitigates this potential risk. Furthermore, an assessment based on TCFD recommendations and mapping of the main climate risks for EDPR according to transition and physical risks categorization was done to mitigate possible impacts. Adjustment of the wholesale market design in Europe and North America to current market conditions There is an uncertainty around the evolution of the wholesale market design in different geographies, given the current challenges being faced due to the current market conditions: • Marginal remuneration system not adjusted to the current context of growing penetration of fixed cost technologies (renewables, backup, storage…); • Growing penetration of technologies with 0 marginal cost, which reduces prices and increases price’s volatility; • Intermittency in generation that creates uncertainty in the generation; • Integration of distributed generation in combination with Solar PV and storage or batteries might lead to changes in terms of reduction of demand for centralized generation due to self-consumption, leading to a decrease in prices and changes in dynamics of energy flows in the grid. This implies that there is uncertainty around the returns of the generation, in particular as back-up capacity (relevant in a perspective of ensuring security of supply). Moreover, the volatility in the market is not suitable for long-term investments necessary to the modernization, decarbonization and security of supply. In order to mitigate the impact of this possible change, EDPR participates in several forums, both at national and international levels, for the adoption of adequate and equate solutions for the different stakeholders; participates and searches for long- term opportunities and contracts to reduce the volatility in revenues; and promotes investments in new technologies among other initiatives.

63 Financial capital 3.1.1. Operational performance INSTALLED CAPACITY (MW) VS. 2020 NCF GWH Dec-21 BUILT SOLD YOY Dec-21 Dec-20 VAR. Dec-21 Dec-20 YOY EUROPE Spain 2,194 +56 - +56 26% 25% +1pp 4,979 4,346 +15% Portugal 1,142 +135 (221) (86) 28% 26% +2pp 3,049 2,624 +16% Rest of Europe 1,894 +491 - +491 26% 26% +1pp 3,329 3,054 +9% France 181 +56 - +56 24% 31% -7pp 314 212 +48% Belgium 11 +1 - +1 29% - - 22 2 +870% Poland 747 +272 - +272 27% 29% -2pp 1,176 1,059 +11% Romania 521 - - - 24% 26% -1pp 1,116 1,186 (6%) Italy 384 +114 - +114 26% 25% +1pp 689 595 +16% Greece 45 +45 - +45 - - - 9 - - UK 5 +5 - +5 - - - 4 - - Total 5,230 +682 (221) +461 26% 26% +1pp 11,357 10,024 +13% NORTH AMERICA US 5,908 +1,142 (911) +80 (1) 31% 33% -2pp 15,814 16,633 (5%) Canada 130 +62 - +62 28% 30% -2pp 255 78 +228% Mexico 400 - - - 41% 41% +0.4pp 987 710 +39% Total 6,438 +1,204 (911) +142 31% 33% -2pp 17,057 17,421 (2%) LATIN AMERICA Brazil 795 +359 - +359 41% 38% +3pp 1,888 1,093 +73% Total 795 +359 - +359 41% 38% +3pp 1,888 1,093 +73% APAC Vietnam 28 +28 - +28 20% 20% - 23 - - Total 28 +28 - +28 20% 20% - 23 - - Total EBITDA MW 12,490 +2,273 (1,131) +990 29% 30% -0.8pp 30,324 28,537 +6% EUROPE Spain 156 - (11) (11) Portugal 31 - - - Rest of Europe 311 +311 - +311 Total 498 +311 (11) +300 NORTH AMERICA US 592 - +121 +121 Total 592 - +121 +121 Total Equity MW 1,090 +311 +110 +421 Total EBITDA + Equity MW 13,580 +2,584 (1,022) +1,411 1 The YoY variation considers the decommissioning of the original 151 MW related to Blue Canyon II Repowering 3.1.

64 EDPR continues to deliver solid selective growth With a top-quality portfolio, EDPR has a strong track record and proven ca- pability to execute superior projects and deliver on targets. The installed asset base of 13.6 GW is not only young, on average 9 years, it is also mostly cer- tified in terms of environmental and health and safety standards. Since 2008, EDPR has more than tripled its installed capacity, resulting in a total installed capacity of 13,580 MW (EBITDA + Equity MW). As of the end of 2021, EDPR had 5,727 MW installed in Europe, 7,030 MW in North America, 795 MW in Latin America and 28 MW in APAC. 2021 installations concentrated in North America and entry in a new region During 2021 EDPR added a total of 2,584 MW, without including the 401 MW of solar that Sunseap had in operation in the APAC region by the end of the year. More specifically, EDPR added 1,769 MW of wind onshore, corresponding to 682 MW in Europe, namely 272 MW in Poland, 135 MW in Portugal, 114 MW in Italy, 56 MW in France, 56 MW in Spain, 45 MW in Greece and 5 MW in the UK, while in North America 932 MW of wind onshore were added, more precisely 870 MW in the United States and 62 MW in Canada. Finally, in Latin America, EDPR added 156 MW of wind onshore in Brazil. In terms of solar, 272 MW were added in the US, 204 MW in Brazil, and 28 MW in Vietnam, that marked EDPR entry the APAC region. Regarding offshore technology, EDPR added 311 MW of wind capacity through Ocean Winds, more precisely in Europe. Pursuing its Asset rotation strategy, EDPR successfully concluded several Asset rotation deals. In detail, a 100% stake in a 302 MW wind project, a 80% stake in a 405 MW wind portfolio; a 80% stake in a 200 MWac solar project and a 100% stake in a 211 MW wind portfolio, all in the US and in Portugal. All in all, in 2021, EDPR consolidated portfolio net variation was of +1,411 MW. 6% increase in Year on Year generation EDPR produced 30.3 TWh (+6% YoY)of clean energy in 2021. The YoY evolu- tion comes in line with a higher average installed capacity YoY, that more than offset the execution of EDPR’s Asset rotation strategy. In 2021, EDPR achieved a 29% load factor (vs 30% in 2020) reflecting 96% of P50 long term average GCF, following a recovery of the renewable resource in the 4Q21, where EDPR reached a 97% of P50 long term average GCF, with special emphasis in Europe, where the same metric reached 104%. EDPR achieved a 97% availability in 2021, flat versus 97% in 2020. The com- pany continues to leverage on its competitive advantages to maximise wind farm output and on its diversified portfolio across different geographies to minimise the wind volatility risk. 10% 9% 16% 15% 11% 11% 56% 61% 6% 4% 2021 2020 GENERATION BREAKDOWN Portugal Spain Rest of Europe North America Latin America 8% 17% 16% 52% 6% TOTAL CAPACITY BY REGION Portugal Spain Rest of Europe North America Latin America

65 Solid growth and diversified portfolio delivers balanced output EDPR’s operations in Europe were a major driver for the electricity produc- tion increase in 2021, increasing +13% YoY to 11.4 TWh and representing 37% of the total output. This is mainly explained by the new capacity in op- eration and the better wind resource. In Europe, EDPR achieved a 26% load factor (+1pp vs 2020), with a distinct recovery in the last quarter of the year. EDPR obtained a load factor of 26% in Spain (+1pp YoY), while in Portugal reached a load factor of 28% (+2pp YoY). On the other hand, in the Rest of Europe, EDPR accomplished a 26% load factor (-1pp YoY). In North America, output decreased -2% YoY to 17.1 TWh, reflecting the low wind resource at 31% (-2pp vs 2020), that was mainly impacted by the one- off ERCOT event in the 1Q21. North America represented 56% of EDPR’s total output in 2021. EDPR’s production in Latin America, more precisely in Brazil, increased to 1.9 TWh vs 1.1 TWh in 2020, representing a YoY increase of +73% in gen- eration and 6% of total EDPR’s generation, this is mainly explained by higher installed capacity allong with better resource where EDPR reached a 41% load factor (+3pp vs 2020). Propelled by capacity additions in 2021, EDPR manages a portfolio of 13.6 GW As of December 2021, EDPR had 1.8 GW of new capacity under construction, of which 1,592 MW related to wind onshore and 232 MW to solar technology. In terms of wind onshore, in Europe 412 MW were under construction, with 159 MW in Italy, 133 MW in Spain, 100 MW in Poland and 21 MW in France. In North America 320 MW were under construction, of which 96 MW corresponding to wind onshore in Mexico and 224 MW to solar in the US. In Latin America, Brazil and Colombia had 580 MW and 504 MW of wind under construction respectively, for a total of 1,084 MW under construction in the region. It is worth to mention that these numbers do not take into account the 162 MW of solar technology that Sunseap had under contruction by the end of 2021. As a result of continuous growth effort, EDPR also has a young portfolio with an average operating age of 9 years, with an estimate of over 21 years of useful life remaining to be captured. 3.1.2. Financial performance Income Statement Revenues reached over €1.8 billion and EBITDA summed €1.8 billion. Revenues totalled €1,758 million (+2% increase versus 2020) on the back of additional installed capacity (+€198 million versus 2020), higher average selling price excluding Sell-down (+€33 million versus 2020), partially offset by Sell-down assets deconsolida- tion (-€132 million versus 2020), lower wind resource (-€12 million versus 2020) along with forex translation and others (-€60 million versus 2020). Other operating income amounted to €636 million (+€137 million versus 2020), with year on year evolution reflecting the gains (€523 million) related to Sell-down transactions closed by the end of the year in North America and Europe together with Offshore trans- actions, namely the stakes sold to the Offshore JV with Engie. In the context of EDPR’s continuous growth, Operating Costs (Opex) totalled €675 million (+19% versus 2020), given upfront costs to support expected growth over the coming years. In comparable terms, adjusted by offshore costs (mainly cross 1,758 1,731 2021 2020 REVENUES (€M) 12 13 2 1 4 5 10 0.3 10 9 3 3 3 1 9 Spain Portugal France Belgium Italy Poland Romania Greece UK US Canada Mexico Brazil Vietnam EDPR ASSETS AVERAGE LIFE Average Age Average Useful Life Left

66 charged to projects’ SPV), Sell-down assets deconsolidated, one-offs, service fees and forex, Core Opex (defined as Supplies and Services and Personnel Costs) per average MW was flat year on year. In 2021, EBITDA summed €1,760 million (vs €1,655 million in 2020) and EBIT amounted to €1,151 million (versus €1,054 million in 2020), with Sell-down transactions having a positive impact of -€45 million in Depreciation and Amortisation along with a -€28 million extraordinary depreciation of a wind-farm (151 MW in the US) repowered during 2021 that offset the +€32 million impact from the consolidation of Viesgo assets. Net Financial Expenses decreased to €249 million (-13% versus 2020) with year on year comparison impacted by forex and TEI unwinding. At the bottom line, Net Profit summed €655 million (versus €556 million in 2020) mainly driven by the successful execution of the Sell-down strategy. Non-controlling interests in the period totalled €154 million, increasing by €27 million year on year, as a result of better overall performance. CONSOLIDATED INCOME STATEMENT (€ MILLIONS) 2021 2020 ∆ % REVENUES 1,758 1,731 +2% Other Operating Income 636 498 +28% Operating Costs (675) (568) +19% Supplies and Services (336) (304) +10% Personnel Costs (174) (141) +23% Other Operating Costs (165) (123) +34% Share of Profit of Associates 41 (6) (770%) EBITDA 1,760 1,655 +6% EBITDA/Revenues 100% 96% +5pp Provisions (2) (1) +123% Depreciation and Amortisation (623) (617) +1% Amortisation Government Grants 16 17 (3%) EBIT 1,151 1,054 +9% Financial Income/ (Expense) (249) (285) (13%) PRE-TAX PROFIT 903 769 +17% Income Taxes (93) (86) +8% Profit of the Period 810 683 +19% NET PROFIT (EQUITY HOLDERS OF EDPR) 655 556 +18% Non-controlling Interests (154) (127) +21% Balance sheet In 2021 total equity increased by €1,551 million. Total Equity of €10.2 billion increased by €1,551 million in 2021, of which €1,710 million are attributable to reserves and retained earnings. Equity attributable to EDPR shareholders increased €100 million year on year, mainly explained by +€655 million from Net profit in the period, +€1,488 million from Capital increase, along with +€71 million of the exchange rate effects, -€742 million from variation in fair value cash flow hedges and -€77 million from dividend distributions to EDPR shareholders. Total Liabilities increased €2,318 million year on year to €11.9 billion, explained by the increase in Institutional partnerships (+€394 million), in financial debt (+€94 million), deferred tax liabilites (+€27 million), rents due from lease contracts (+€9 million), provisions (+€9 million), and other liabilities (+€1,153 million), despite the decrease in deferred revenues from Insti- tutional partnerships (-€67 million). Debt-to-equity ratio stood at 116% by the end of 2021. Liabilities were mainly composed of financial debt (34%; versus 41% in 2020), liabilities related to institutional partnerships in the United States (13%; versus 12% in 2020) and accounts payable (28% versus 23% in 2020).

67 Liabilities to tax equity partnerships in the United States increased by €326 million to €2,260 million. Deferred revenues related to institutional partnerships primarily represent the non-economic liability associated to the tax credits already real- ised by the institutional investor, arising from accelerated tax depreciation, and yet to be recognised as income by EDPR throughout the remaining useful lifetime of the respective assets. Deferred tax liabilities reflect the liabilities arising from temporary differences between the accounting and the tax basis of assets and liabilities. Accounts payables include trade suppliers, PP&E suppliers, deferred income related to investment grants received and derivative financial instruments. As total assets summed €22.0 billion in December 2021, the equity ratio of EDPR reached 46%. Assets were 66% composed of net PP&E - property, plant and equipment representing €14.6 billion (+€1,071 million versus 2020). In detail it included +€2.5 billion of capex investments, -€0.6 billion of depreciation charges along with positive exchange differences of +€0.7 billion and -€1.6 billion coming from sales and others. Net intangible assets of €1.6 billion mainly include €1.3 billion from goodwill registered in the books, for the most part related to acquisition of Viesgo renewable business, while accounts receivable is mainly related to loans to related parties, trade receivables, guarantees and tax receivables. STATEMENT OF FINANCIAL POSITION (€ MILLIONS) 2021 2020 ∆ € ASSETS Property, Plant and Equipment, net 14,562 13,492 +1,071 Right-of-use asset 669 674 (5) Intangible Assets and Goodwill, net 1,584 1,537 +48 Financial Investments, net 1,003 488 +515 Deferred Tax Assets 332 122 +210 Inventories 62 55 +8 Accounts Receivable - Trade, net 498 279 +219 Accounts Receivable - Other, net 1,772 999 +773 Assets Held for Sale 496 12 +484 Collateral Deposits 49 31 +18 Cash and Cash Equivalents 1,004 474 +529 Total Assets 22,031 18,163 +3,868 EQUITY Share Capital + Share Premium 6,402 4,914 +1,488 Reserves and Retained Earnings 1,710 1,878 (169) Net Profit (Equity Holders of EDPR) 655 556 +100 Non-controlling Interests 1,408 1,276 +132 Total Equity 10,175 8,624 +1,551 LIABILITIES Financial Debt 4,041 3,947 +94 Institutional Partnerships 1,537 1,143 +394 Rents due from lease contracts 699 689 +9 Provisions 324 315 +9 Deferred Tax Liabilities 455 427 +27 Deferred Revenues from Institutional Partnerships 723 790 (67) Other Liabilities 3,380 2,227 +1,153 Total Liabilities 11,856 9,539 +2,317 Total Equity & Liabilities 22,031 18,163 +3,868

68 Cash flow statement and Net debt Operating cash-flow impacted by top line performance In 2021, EDPR generated Operating Cash-flow of €1,171 million (+29% versus 2020), with year on year evolution explained by better top line performance. The key items that explain 2021 cash-flow evolution are the following: • Funds from operations, resulting from EBITDA after net interest’s expenses, share of profits of associates and current taxes, were €1,631 million (versus €1,519 million in 2020); • Operating Cash-flow, which is the EBITDA net of income tax and adjusted by non-cash items (namely income from United States institutional partnerships) and net of changes in working capital, was €814 million (-10% versus 2020). Non-cash items include €523 million from capital gains related to the assets sold in Europe and North America along with assets sold to Ocean Winds (EDPR and Engie's Offshore JV); • Capital expenditures with capacity additions, ongoing construction and development works totalled €2,522 million (+20% versus 2020) mainly from higher capex in North America and Europe; • Payments to institutional partnerships totalled €84 million, contributing to the reduction of Institutional Partnership lia- bilities. Total net dividends and other capital distributions received totalled €1,300 million mainly due to the Capital in- crease operation performed during 2020. In the period, forex & others had a negative impact in Net Debt of €652 million. CASH-FLOW (€ MILLIONS) 2021 2020 ∆ % EBITDA 1,760 1,655 +6% Current Income Tax (41) (35) +17% Net Interest Costs (89) (101) (13%) FFO (FUNDS FROM OPERATIONS) 1,631 1,519 +7% Net Interest Costs 89 101 (13%) Income from Institutional Partnerships (177) (202) (12%) Share of Profit of Associates (41) 6 - Non-cash Items Adjustments (493) (439) +12% Changes in Working Capital (194) (78) +150% OPERATING CASH-FLOW 814 908 (10%) Capex (2,522) (2,098) +20% Financial Desinvestments/ (Investments) (330) (1,093) (70%) Changes in Working Capital related to PP&E Suppliers 245 552 (56%) Government Grants - - n/a NET OPERATING CASH-FLOW (1,794) (1,731) +4% Sale of Non-controlling Interests and Sell-down Strategy 1,144 950 +20% Proceeds from Institutional Partnerships 682 305 +124% Payments to Institutional Partnerships (84) (56) +50% Net Interest Costs (Post Capitalisation) (89) (101) (13%) Dividends Net and Other Capital Distributions (200) (184) +9% Forex & Others (652) 178 - DECREASE/(INCREASE) IN NET DEBT 508 (640) - 16% 14% 14% 7% 49% 2022 2023 2024 2025 >2025 DEBT MATURITY

69 As of December 2021, Net Debt totalled €2,935 million (-€508 million versus 2020) reflecting on the one hand assets cash generated and the Capital increase and on the other hand investments in the period and forex translation. Institutional Part- nership Liabilities summed €1,537 million (+€394 million versus 2020), with benefits captured by the projects and tax equity partners along with a new institutional tax equity financing in the period and offset by Sell-down transaction concluded in the period. Europe In 2021, Europe increased its revenues to €926 million (+12% versus 2020) due to higher production at 11.4 TWh (+13% versus 2020) with higher prices (+0.5% YoY). Net Operating costs (Operating costs net of other operating income), decreased to -€15 million, primarily explained by the increase in other operating income explained by the capital gains received from the Portuguese portfolio Sell-down in 2021. Operating costs increased +30% versus 2020 mainly due to higher average operating MW in the period. All in all, EBITDA in Europe totalled €950 million, a +11% increase versus 2020, reflecting an EBITDA margin of 103% (versus 104% in 2020). North America In North America, revenues decreased to €762 million in 2021 (-13% versus 2020) on the back of lower resource in period and the impact of the one-off ERCOT event in the first quarter of 2021. Net Operating costs decreased €64 million to €30 million, reflecting mainly the capital gains accounted from multiple Sell-down transaction conluded in the period that trans- late into a +€75 million increase in other operating income. Operating costs increased +4% versus 2020. As a consequence, North America EBITDA totalled €747 million (versus €777 million in 2020), reflecting an EBITDA margin of 98% (versus 89% in 2020). Latin America In Latin America, revenues increased to €68 million (versus €36 million in 2020) on the back of higher renewable resource and eletricity generation (+73% versus 2020) in Brazil. Net Operating costs increased to €19 million, due to the slightly higher operating costs due to higher average operating capacity in the period. All in all, EBITDA in Latin America totalled €49 million, versus €26 million in 2020 reflecting an EBITDA margin of 72% (versus 71% in 2020). STATEMENTS (€ MILLIONS) 2021 2020 ∆ % 2021 2020 ∆ % 2021 2020 ∆ % EUROPE NORTH AMERICA LATIN AMERICA REVENUES 926 824 +12% 762 871 (13%) 68 36 +85% Other Operating Income 350 287 +22% 270 195 +39% 1 3 (80%) Operating Costs (335) (259) +30% (300) (290) +4% (20) (14) +41% Supplies and Services (189) (158) +19% (157) (163) (4%) (13) (9) +42% Personnel Costs (45) (32) +41% (89) (76) +17% (2) (1) +60% Other Operating Costs (101) (68) +48% (54) (50) +8% (4) (3) +31% Share of Profit of Associates 9 4 +111% 15 (0.2) - - (0.0) (100%) EBITDA 950 856 +11% 747 777 (4%) 49 26 +87% EBITDA/Revenues 103% 104% (1pp) 98% 89% +9pp 72% 71% +1pp Provisions (0.8) (0.7) +16% (0.8) - n/a 0.02 (0.01) - Depreciation and Amortisation (252) (223) +13% (351) (375) (7%) (11) (9) +25% Amortisation of Government Grants 0.6 0.6 (1%) 15 16 (3%) - - n/a EBIT 698 633 +10% 411 418 (2%) 38 17 +120% NET DEBT + TAX EQUITY (€ MILLIONS) 2021 2020 ∆ € TOTAL NET DEBT + TAX EQUITY 4,472 4,586 (114) Net Debt 2,935 3,443 (508) Institutional Partnerships 1,537 1,143 +394

70 Other reporting topics Subsequent events Ocean Winds is awarded with exclusive rights to develop around 1 GW offshore wind project in Scotland Madrid, January 17 th 2022: EDP Renováveis, S.A. (“EDPR”) is pleased to announce that Ocean Winds, the offshore JV owned by EDPR (50%) and Engie (50%), was awarded with block NE4 by the Crown Estate Scotland (“CES”) in the ScotWind seabed tender. Ocean Winds was awarded exclusive rights to develop a bottom-fixed offshore wind project of around 1 GW in block NE4, the Caledonia Offshore Wind farm (“Caledonia”), and consideration is being given to using part of the output for green hy- drogen production. Caledonia’s 440 km 2 seabed area is adjacent to the existing 950 MW Moray East and c.0.9 GW Moray West offshore pro- jects, allowing Ocean Winds to leverage on the experience and operational synergies of developing, building and operating Caledonia in conjunction with Moray East and Moray West. The UK is among the largest offshore wind markets worldwide, having recently raised its offshore target to 40 GW by 2030. Ocean Winds continues to expand its presence and is fully committed to investing in Scotland, with Moray East 950 MW leading the way as the largest offshore wind farm in Scotland, Moray West c.0.9 GW which is shovel-ready, and now Cale- donia with around 1 GW to be commissioned until the end of the decade, positioning Ocean Winds as a leader in the Scottish Offshore market and actively contributing with around 2.9 GW to reach the UK 40 GW target by 2030. With today’s announcement, EDPR increases its growth options in offshore wind in an attractive market, thereby enhancing and diversifying the company’s long term profitable growth options while maintaining a balanced risk profile. Change in Corporate Bodies Madrid, January 17 th 2022: EDP Renováveis, S.A. ("EDPR") informs that the Company has received the resignation of Mrs. Joan Avalyn Dempsey as independent member of EDPR's Board of Directors. EDPR would like to thank Mrs. Joan Avalyn Dempsey for all her dedication and contribution to the success of the Company. The Company will start the process to identify and propose the best possible candidates in order to fill this vacancy at EDPR’s Board of Directors. Information on average payment terms to suppliers In 2021, total payments made from Spanish companies to suppliers amounted to €123,843 thousand with an average pay- ment period of 42 days, below the payment period stipulated by law of 60 days. Own shares As of December 2021, EDPR did not hold own shares and no transactions were made during the year.

72 Human Capital Key Data Highlights During recent times, which were highly marked by the pandemic, EDPR team's commitment and capacity to adapt by work- ing together while apart allowed the Company to keep achieving and surpassing its ambitious goals while always putting health and wellbeing first. Following the outbreak of the COVID-19 crisis, and as a responsible company, EDPR quickly took measures to minimise the conditions for the virus to spread, focusing on people’s health and keeping essential services in operation. During the first nine months of 2021, employees continued to have the option to work from home during the five days of the week, and after October they gradually returned to the facilities according to a Reopening Plan with geographical specifications, which in- clyded a remote work model, guaranteeing the highest health and safety standards for all and complying with legal and space limitations. Even during the global crisis, EDPR was able to continue hiring and maintain the promotions, mobilities and training sessions, adapting the processes to the current situation. Employee journey A customised value proposition is offered to employees throughout their journey in EDPR, which allows them to join a multi- national team and grow along with it. EDPR believes that motivated workforce aligned with the company’s strategy is one of the key drivers behind the ability to deliver positive results. In this sense, EDPR bases its Human Resources policies on the Business Plan goals and implements its actions considering an active listening of the employees. During 2021, a Climate Survey was launched, in which 95% of the employees participated. The levels of EDPR employees’ enablement were of 73% of favourability (comparing to 76% in the last survey) and 79% of favourability regarding engage- ment (83% in the previous survey). In spite of the slight decrease when comparing with last year, the Company remains above pre-pandemic numbers and is also above current Utilities and General Industry indicators. EDPR constinuosly works to provide excellent conditions for its employees, to grow and develop talent at all levels, and to optimise its employment policies and labour practices. As a result, EDPR has been recognised by the Top Employers Institute as one of the best companies to work for in Europe in 2021 for the third consecutive year and, at a local level, in Spain, France, Italy, Portugal, Poland and Romania. The Company was also recognised as a 2021 Top Workplace in the United States. These certifications endorse EDPR as one of the best companies to work at thanks to the journey it offers its employ- ees. The main actions carried out by EDPR during 2021 in this sense are detailed in this chapter. 3.2.

73 Attract Attracting talent EDPR aims to be a long-term market leader in the renewable energy sector and is aware that its team is key to achieve this. Therefore, the Company is continuously striving to attract talent, bringing in the right skills and profiles to address current and future business challenges, and retain professionals who seek to excel in their work. In EDPR, non-discrimination and equal opportunities are guaranteed during all the selection processes. This is reflected in its Code of Ethics, which contains specific clauses on non-discrimination and equal opportunities, in line with the Company's culture of diversity and inclusion and the respect for human and labour rights. During 2021, EDPR implemented different talent attraction initiatives to strengthen its image as a leading employer: • Pool of Engineers Program: EDPR selects exceptional junior engineers for Tech profiles and different academic back- grounds to join and be an active part of one of the most compelling junior engineer programs in the market. Through the program, EDPR gives new talents the tools to develop themselves professionally and personally, having the chance to know and influence different technical areas, including a tailor-made training program. During the 24 month pro- gram, junior engineers have the opportunity to complete two rotations in EDPR in different technical areas. The current pool of 5 engineers completed their first rotation in February 2021, immediately assuming their new position in the second rotation to complete their technical training in order to assume the final assigned position by February 2022. • Job Fairs: In 2021, EDPR attended 28 job fairs from the most relevant Universities and Business Schools worldwide with an assistance of more than 19,000 students. • LinkedIn: The platform is a main source of Recruitment, covering up to 61% of the Corporate positions hired in 2021. Integrating the team Onboarding plays a critical role in a new hire's success and happiness, and builds relationships that are important to job satisfaction and performance. Aware of this, EDPR has an Onboarding Policy for new hires which details the process and measures to follow when integrating a new employee in the Company. One of the measures detailed in EDPR’s Policy is to prepare a meeting with an HR buddy in the employee’s first day. In addition, some new hires have the opportunity to have breakfast with the CEO, a meeting where employees get to introduce themselves personally and ask the Company’s CEO some questions, while also giving the leader some insight from the team. This year, both these meetings were done through interactive video sessions. Also as a part of its Onboarding Policy, EDPR holds an annual Welcome Day event, which is exclusively for new employees. Welcome Day is focused on improving the integration and networking of the new members of the team and includes some short presentations from different business areas of the Company for an introduction on the Company’s functioning. In ad- dition, the CEO usually gives a welcome speech to the new employees and participates in a Q&A session, which helps the participants to know and better understand the Company’s strategy. In 2021, the event was done online with an attendance of 113 new hires. In addition, EDPR shares a monthly newsletter to its employees where all the new hires’ names, occupation and country of work are included, fostering their integration.

74 During 2021, EDPR welcomed 652 team members (+48% than in 2020), of whom 35% are women. There were 23 national- ities among the new hires, and their average age was 34 years old. 97% of the new employees correspond to levels of Specialists and Technicians, of which 83% have an University degree or above. 99,7% of the hires were allocated in perma- nent positions, and 140 internships were carried out during 2021. Experience EDPR strives every day to create an environment of trust and professionalism among its team. To this end, it regularly im- plements activities, measures and campaigns that are important for the professional and personal development of employ- ees, by offering an individualised value proposition with working conditions that allow employees to grow and thrive, helping their wellbeing and that of their families, supporting volunteer activities and promoting diversity and inclusion. Individualisation Part of EDPR value proposition is a competitive remuneration package aligned with the best practices in the market. EDPR’s Compensation Package includes (i) an Annual Base Salary and (ii) a Variable Pay depending on the achievements of the Area, Company KPIs and an Individual Global Assessment of the employee, and also an (iii) above market practice benefits package such as Health Insurance or Pension Plan. The remuneration package is not static, which means that it evolves at the same pace as the business and employees’ needs and concerns. In line with the above, in 2021 a Recognition Program has been created for all EDPR employees, in which the dedication to their work and to the Company is valued. This program is not linked to the performance management process, and it consists of circulating different emails whose purpose is to recognise each employee as a person, as a worker, and as an important team member of the Company. Flexibility Throughout 2021, both physical and mental health were once again a global priority. Accordingly, EDPR implements several initiatives focused on family, time, and health, offering its team a wide range of benefits that reinforce the Company's position as a flexible workplace with work-life balance policies; it also encourages an efficient use of time in employees' daily tasks to reconcile their professional and personal life while still achieving excellent results. As a result, EDPR's work-life balance practices have earned it the EFR Certification (Empresa Familiarmente Responsable) for ten years, awarded by the Spanish Fundación MásFamilia. In 2021, EDPR maintained the level of excellence in this certification obtained in 2020, which recog- nises the Company's efforts to reconcile professional and personal life, excellence and flexibility. To achieve this continuously, EDPR is committed to constantly improve the initiatives implemented, which will enable it to provide the most progressive and appropriate benefits to employees. During the year, EDPR launched the Flex-Movement, an initiative to simplify flexibility measures and improve the conditions necessary to make EDPR a dynamic and innovative growth-based company. In this context, the Company was able to suc- cessfully kick-off the remote work strategy approved the previous year, in which employees are able to work remotely 2 days a week, where feasible. EDPR believes that remote work is crucial to improve flexibility, work-life balance and the overall wellbeing of its team while remaining productive. In addition, the Company has a wellness platform to further develop a culture of wellness and encourage healthy habits. The aim of the programs promoted by the platform is to create a culture where employees choose to voluntarily adopt healthy habits by sharing their experiences, form support networks to facilitate the process and motivate each other. In 2021, a virtual gym was included in the platform. EDPR also shared in its intranet several tips on health, wellbeing and remote work throughout the year. To raise awareness on mental health in particular, EDPR launched the Mind Your Mind campaign in October, which promoted educational talks with specialists, employees and other key stakeholders on how to approach the topic, especially in the current social context. Also in 2021, EDPR introduced the Golden Rules initiative to provide guidelines for its employees on topics such as respecting routines, best practices when communicating through email and tips for organising their daily schedule. Later, together with the implementation of the new hybrid working model, the Golden Rules 2.0 was created, which is an adaptation of the previous initiative to a new reality in which there are some employees working from home and others working at the office at the same time. By following these recommendations, people can be more efficient with their time and promote each other’s wellbeing.

75 Furthermore, EDPR has a volunteer program addressed to its employees in order to promote social responsibility, giving them the opportunity to grow not only at work but also personally while also contributing to the society. As a result, EDPR em- ployees are given 4 hours a month to dedicate to volunteering initiatives. Diversity, Equity and Inclusion EDPR incorporates the principles of diversity, equity and inclusion in its values and practices, as it is aware that a diverse team brings together different perspectives and knowledge, as well as representing different sources of talent. In particular, EDPR's goal is to contribute to improving the quality of life of its employees, removing professional barriers and promoting gender equality, in order to ensure a transparent workplace environment where mutual respect and equal opportunities prevail. In accordance, EDPR has a Diversity, Equity and Inclusion Committee to promote its commitment to these funda- mental principles. The main objectives of the Committee are to reflect EDPR's strategy on diversity, equity and inclusion, including the definition and development of initiatives that contribute to a global action plan and local action plans, and to foster the exchange of knowledge and best practices. However, as a responsible company, EDPR's goal is to actively pro- mote these values in its team. In this context, EDPR celebrated the Diversity Month in May, during which an e-learning on Unconscious Bias was launched at EDP Group level, an online training course designed to address underlying attitudes that we sometimes unconsciously adopt in our day-to-day decisions. The Company believes that with the right tools and knowledge, we will be able to have a truly inclusive culture and a more sustainable future. In addition, EDPR joined the "Empowering Women's Talent" program for the development of female talent promoted by Equipos & Talento. The program helps companies to learn, share, communicate and inspire about gender diversity, with the aim of promoting female empowerment and leadership. This reflects the Company’s committment to promote and recognise the work of women, especially those who develop careers in STEM (Science, Technology, Engineering and Mathematics), since one of its most relevant challenges is to attract, develop and retain female talent, especially in the technical area. As a result of its commitment and practices, EDPR was featured for the second consecutive year in the Bloomberg Gender- Equality Index (GEI) in early 2021, a benchmark index that selects the listed companies most involved in the development of gender equality in the world. EDPR's inclusion as part of this index highlights the Company's work to promote equal oppor- tunities for women through development, representation and transparency policies. EDPR is dedicated to continuously fostering a culture founded on human equality and the strength in diversity, and will continue to lead by example. The Company upholds its commitment to Diversity, Equity & Inclusion not only through words, but through actions that truly make a positive impact on people. Develop People are EDPR’s most important asset. In this sense, EDPR is committed to the development of its employees, offering them an attractive professional career and aligning their capabilities and skills with the current and future needs of the company. The growth and development of the Company's business leads EDPR to invest in the employees by discovering, improving and emphasising the potential of each mainly through internal mobility, training and development actions. Mobility EDPR considers both functional and geographical mobility as a tool that contributes to the organisational development by stimulating employees’ motivation, skills, productivity, personal fulfilment and fostering the share of best practices. The mo- bility processes within EDPR aim to respond to the different challenges and needs of the Company, considering the charac- teristics of the different geographies. In 2021 there were 74 mobility processes, 53 of which functional, 11 geographical and 10 both functional and geographical. Training EDPR offers job-specific ongoing training opportunities to contribute to the learning, the improvement of knowledge and skills, as well as specific development programs aligned with the Company's strategy. The 360 potential appraisal process is created for all employees with the goal of defining each person’s training needs along with their manager, which is then used to define a customised Training Plan. The annual Training Plan is based on a catalogue of programs that is constantly evolving and is aligned with the Company’s challenges and new markets. The key aspect about the courses

76 offered is that they usually contain subjects to promote the development of skills needed to ensure the sustainability of EDPR’s business. Moreover, the networking and the share of best practices foster innovation and improve performance. During 2021, EDPR delivered a total of 66,571 training hours throughout 4,588 sessions that included 57,900 participants. This translates into an average of 33.8 hours of training per employee and results in 97,9% of EDPR’s team receiving training. Having already fully adapted the training activities due to the COVID-19 pandemic, EDPR has consolidated both the redesign and modification of training contents and sessions to virtual, e-learning or remote formats. This effort allowed to maintain and even increase the training provided when comparing with previous years, increasing the training courses delivered in e- learning, live webinars or other non-synchronous including game-based training (a total of 84% of training hours or 97% of the attendances were delivered in online methodology). Therefore, EDPR highlights Digitalisation as one of the main training drivers that helped to accelerate and consolidate during 2021 as a result of the methodologies and by contents increasingly delivered on topics such as Collaborative Tools (Microsoft 365 suite), Agile methodologies, Data Analyse tools, Digital Trans- formation, Cybersecurity, SMART business, IoT, Cloud or Artificial Intelligence. Knowledge management EDPR is aware of the importance of Knowledge as a valuable asset within the business and in employees’ development. Thus, EDPR is boosting LINK as a knowledge platform, increasing the number of areas, domains and curated documents with valuable content captured and shared across the organisation(encouraging the access to a new recommended docu- ment each week), to help its employees learn from the past to face future challenges and move the Company forward. During 2021, EDPR organised a total of 13 sessions of 40fiveminutes, an online initiative to easily share main business insights in a friendly and informal way to those employees who sign up to the sessions. Becoming a Learning Organisation implies a strong knowledge sharing mindset, so EDPR strives to improve the use of knowledge by regularly distributing customised relevant documents or events, working to adapt to new ways of learning and to all the generations present in the Company, and by establishing a hybrid work model. Development In order to support the Company's growth and to align the current and future needs of the organisation with the skills of employees, as well as boost their professional growth, EDPR has designed different development programs that allow em- ployees acquire the right tools to take on new responsibilities and adapt to new challenges: • The Lead Now Program aims to support middle managers in their role as team leaders. As a result, participants have the possibility to self-assess their management style, improve the skills they need, and get to know the role they play in the different HR processes at EDPR, as well as the IT and H&S systems that can help them develop their role. Through online sessions, three editions were delivered to 38 employees in 2021 in Europe and LatAm, and other three in North America in which 43 employees participated. In addition, during the summer and in order to complement the Lead Now program, six remote leadership Webinars were held for managers, with the goal of helping them adapt to a new reality in which their teams work remotely, which can be challenging. • The Executive Development Program is an advanced training with a similar philosophy of an MBA in which the main objective is to develop the vision, skills and management capabilities required to meet the many and diverse challenges that EDPR professionals have to face. In 2021, the Company had 30 employees selected for this program, which started in May and ends in January of 2022. It is focused on different topics, such as Economic Outlook, Strategic Vision, Oper- ational Excellence, Financial Management, Communication and Leadership, among others. • The Management and Leadership Essentials Program (MLE) aims to develop the group of Power Plant Managers in Europe and Brazil, by upskilling a traditionally technical profile at EDPR with the development of management and leadership skills. The program, which was recognised and awarded with the Cegos and E&T 2021 Award for Best Practices in the Development and Learning Category, had 107 participants in 7 different countries throughout its course, in collaboration with an external partner that provided 7 local consultants who conducted the online program in the local language. Each participant was able to complete a total of 50 hours distributed in two modules that took place in 2020 and 2021, in addition to individual e-coaching sessions as part of the program.

77 +5,000 suppliers contribute to EDPR’s success Total invoiced volume Suppliers in EU&BR: 46% 1 Suppliers in NA: 54% 1 94% 2 local purchases at country level Supply Chain Capital EDPR’s market leadership, based in value creation capacity, innovation and relationship with its stakeholders, is much influ- enced by the performance of its suppliers. Technical excellence together with sustainability is the basis of EDPR relationship with suppliers. This results in close collab- oration, joint capacity to innovate, strengthen the sustainability practices and improve the quality of the Company’s opera- tions. Key Data EDPR’s supply chain EDPR has a strong and permanent interaction with its supply chain, in particular with the strategic suppliers understood as WTG (Wind Turbine Generator) & Solar Panels manufacturers and suppliers, Balance of Plant (BOP) and Operation and Maintenance (O&M) contractors. Those suppliers contribute in a meaningful and visible way to the value of EDPR core activ- ities – construction and operation of wind farms and solar plants. This close relationship allows EDPR to benefit from all the new technical solutions and innovations available on the market to maximise the value creation in the projects worldwide. High quality and sustainable procurement EDPR’s procurement process is developed within the framework of the Procurement Policy, which extends to EDPR’s both direct and indirect suppliers, and from which the most relevant aspects for EDPR regarding the supply chain’s high quality and sustainability are established: development of activities that promote the sharing of the best sustainability practices in EDPR purchases; contribution to the growth and profitability of the business through the promotion of initiatives for the progress and continuous improvement of the supply chain; systematic monitoring of suppliers’ performance and risk profile; dissemination and implementation of EDPR’s sustainability policies (Environmental and H&S policies and Code of Ethics) in the acquisition of goods and services and involvement and empowerment of all actors in the supply chain. Implementation of the Procurement Policy leads to a better control in the suppliers’ management process, assuring EDPR values are respected, product quality is high and risks are minimised. EDPR has in place requirements related to Sustainability, Quality and Risk management that have to be met by its suppli- ers throughout the main procurement phases: registration and qualification, contracting and, lastly, the monitoring and evaluation of the suppliers. 1 Weight of each platform on the total invoiced volume in 2021 2 EDPR defines spending in local suppliers at a country level as purchases to suppliers in countries where EDPR is present divided by the total invoiced volume in 2021 3.3.

78 Registration and qualification The registration process is an indispensable requirement for any company who intends to become a supplier or apply for a qualification process issued by EDPR. The Corporate System of Supplier Registration of the Company works as the support to search and select suppliers by providing detailed information, validated and updated by credible sources in order to guar- antee their accreditation through financial, technical quality and sustainability criteria. EDPR has a Supplier Qualification Process in place since 2020. The main goal of this process is to provide a more thorough analysis on critical topics such as technical capabilities, health and safety, environment and ethics, and to establish highly standardised minimum requirements to ensure that the suppliers with whom EDPR conducts business are qualified. All pa- rameters of the Qualification system are periodically reviewed and reassessed by EDPR to guarantee that supply chain performance remains on the high quality level required. The qualified suppliers are then included in a Suppliers Qualification List and are able to participate in the EDPR bidding and contracting processes. Contracting The incorporation of adequate criteria in the bidding and contracting processes of the company is essential to ensure the management and mitigation of operational risks in the supply chain. In Europe & Brazil, EDPR has a Suppliers Sustainability Guide in place for both construction and O&M operations, providing an overview of the sustainability requirements EDPR expects its suppliers to meet. The guide includes H&S, environmental and ethical requirements such as compliance with applicable regulations, policies, internal norms, procedures and systems in place. In addition, EDPR has implemented a pro- cess that classifies suppliers according to their H&S and environmental risks. The classification serves as an input in the selection of suppliers during the bidding phase. Based on the individual values obtained in this classification, suppliers may be excluded from the bidding process. If the supplier wants to be re-considered or participate in new processes, an action plan to solve the identified issues has to be presented and EDPR shall approve the action plan proposal. Adequate compliance by all EDPR suppliers with applicable H&S and environmental requirement is essential to guarantee the correct performance of the contracted services and works. Aiming to ensure that suppliers comply with these require- ments, the Company has established a disciplinary and sanctioning regime, which is included in all requests for proposal, contracts and purchase orders so any provider will be always informed about the consequences of not complying with EDPR H&S and environmental requirements. In parallel, financial capacity of the suppliers and their insurance policy are evaluated according to the EDPR’s Credit-in procedure that defines the requirements to ensure the compliance with EDPR’s Counterparty Risk Policy and the proper follow-up of active guarantees. EDPR Counterparty Risk Policy sets the methodology and process to measure counterparty risk of new contracts, monitor counterparty risk of existing contracts, define in which moments and situations it should be used and establish guidelines and mitigation instruments to reduce counterparty risk when they exceed established limits. Monitoring and evaluation In order to guarantee that the suppliers comply with the previously mentioned requirements, EDPR monitors strategic sup- pliers during their services delivery. EDPR performs internal inspections during the construction and operation phases to monitor the suppliers performance re- garding environmental and H&S aspects and to identify potential risks. In 2021, EDPR performed 1,742 inspections (+38% than in 2020) to 271 suppliers (+74% YoY) regarding EHS procedures. As a result of these inspections, the Company identifies corrective actions needed and establishes an action plan for continuous improvement. Furthermore, EDPR hires an external party for additional supervision in these areas. These processes are reinforced by the integrated Health and Safety and Environmental Management System, which was developed and externally certified according to international standards ISO 45001 and ISO 14001. Moreover, since 2020, EDPR has a Third Party Integrity Due Diligence Procedure which was approved with the goal to rein- force the mechanisms for identifying and preventing possible integrity or corruption risks for EDPR in the relationship with third parties. In this sense, during 2021, 397 Compliance analysis of third parties were performed (closed Integrity Due Dili- gence Analysis). In addition, an internal tool has been developed to facilitate the management of the Integrity Due Diligence analyses. In cases with high risk, it is necessary the approval of the Management Team, and the inclusion of robust clauses related to corruption in the corresponding agreements is recommended.

79 Social Capital EDPR believes it is indispensable to contribute to the development of the society respecting both human and labour rights and creating value in different ways, for different people. With this in mind, the Company is guided by three key social re- sponsibility principles: guarantee the highest health and safety standards, respect human and labour rights in the whole value chain and, lastly, support communities. 3.4.1. Guarantee the highest health & safety standards The health and safety of those who contribute to EDPR’s activities is a key value and a priority for its success. Consequently, the Company aims to promote and build on a positive safety culture in which every employee, service provider and supplier is engaged. According to its Code of Ethics, EDPR undertakes to give priority to the employees and suppliers’ safety, health and wellbeing and to ensure the development of appropriate occupational health and safety management systems. The commitment to guarantee the welfare of employees and contractors is further supported by EDPR’s Occupational Health and Safety Policy. EDPR team's commitment and capacity to adapt by working together while apart allowed the Company to keep achieving and surpassing its goals, leading to the development of a more ambitious 2021-2025 Business Plan. In line with the new Business Plan, the Company added 1,411 MW during 2021 and had 1.8 GW of capacity under construction as of Dec-21 (does not include 401 MW of installed capacity and 162 MW of under construction capacity as of Dec-21 relating to Sunseap acquisition). This growth is consistent with the increase of worked hours (+44% YoY) which, in turn, is reflected on the number of work-related injuries. During 2021, EDPR registered 38 work-related accidents that resulted in lost workdays for employ- ees and contractors (+58% YoY). One of these accidents was fatal and the investigation carried out considered that the working methods and resources used did not in themselves represent a factor that contributed to the occurrence of the accident. The injury and the lost day rate were 2.1 work accidents per million hours worked and 84 1 days lost due to work accident per million hours worked, respectively. However, EDPR continuously works to improve these ratios and to bring awareness to the best H&S practices. This is rein- forced by the integrated Health & Safety and Environmental Management System, which was developed and certified ac- cording to international standards ISO 45001 and ISO 14001 for a more global and efficient approach, simplifying processes and managing the potential risks of its activity. The HSEMS, where synergies play a fundamental role, was implemented and jointly certified by an independent certifying organisation. The implementation of this integrated system allows for better management and prevention of accidents, with the objective of zero accidents overall. The commitment to health & safety is further supported through the ISO 45001 certification, which covers 100% 2 of EDPR’s installed capacity by the end of 2021. The COVID-19 pandemic resulted in a new way of living and working through strengthened H&S measures, adaption of work arrangements, and management of stress and other psychosocial risks. Following the initial outbreak of the pandemic, EDPR implemented a Response Plan, quickly taking measures to minimise the conditions for the virus to spread, focusing on people’s health and keeping essential services in operation. During the first nine months of 2021, employees continued to have the option to work from home during the five days of the week, and after October they gradually returned to the facilities according to a Reopening Plan with geographical specifications, which inclyded a remote work model, guaranteeing the highest health and safety standards for all and complying with legal and space limitations. During 2021, both physical and mental health were once again a global priority. Accordingly, EDPR implements several initiatives focusing on employees’ health and wellbeing. For example, the Company has a wellness platform to further de- velop a culture of wellness and encourage healthy habits. The aim of the programs promoted by the platform is to create a culture where employees choose to voluntarily adopt healthy habits by sharing their experiences, form support networks to facilitate the process and motivate each other. In 2021, a virtual gym was included in the platform. EDPR also shared in its intranet several tips on health, wellbeing and remote work throughout the year. To raise awareness on mental health in particular, EDPR launched the Mind Your Mind campaign in October, which promoted educational talks with specialists, employees and other key stakeholders on how to approach the topic, especially in the current social context. 1 Adjusted severity rate excluding the lost days derived from accidents in 2020 (non-adjusted severity rate: 132) 2 Calculation based on 2020YE installed capacity (EBITDA MWs). EDPR certifies the facilities the year after the COD (commercial operating date). Thus, the facilities that have entered into operation in 2021 will be certified in 2022 3.4.

80 3.4.2. Respect human and labour rights The EDP Group follows a framework of integral respect for human and labour rights and, at the same time, of active promo- tion of universal human values. These commitments are established in the Human and Labour Rights Policy, which was published in 2021. This Policy, which is an update the EDP Group’s Declaration of Respect for Human and Labor Rights, is articulated with the Code of Ethics, the Stakeholder Relationship Policy and the Supplier's Code of Conduct. The Policy has a prescriptive nature, identifies the references, norms and international conventions to which it is submitted, establishes the strategic principles, specifies the principles of action, assigns responsibilities, defines obligations and management bodies. The Policy details the operational commitments, the way of working, the complaint channels and the communication and training obligations. In particular, the Policy establishes Due Diligence procedures, implementing the Ruggie methodology. At EDPR, there’s a commitment to integrate the social aspects in planning and decision-making and to guarantee responsible operations throughout the whole lifecycle of its business. As a result, EDPR undertakes to respect and foster due respect for these practices within the Company and in its supply chain, as well as to provide dignified working conditions for all. For the Company, it is a top priority to promote human rights and fair labour practices across the entire value chain. EDPR respects and undertakes to promote Human Rights internally, in its suppliers, customers and the communities where it op- erates, namely in indigenous communities, by guiding its actions according to the Universal Declaration of Human Rights and international conventions, treaties or initiatives, such as the Conventions of the International Labour Organisation, the United Nations Global Compact and the Human Rights Council’s Guiding Principles for Companies. This is reflected in EDPR’s Code of Ethics, which contains specific clauses regarding non-discrimination and equal opportunities, in line with the Com- pany’s culture of diversity and respect for human and labour rights. The Code is not an isolated feature – it belongs to an Ethics framework that includes functional units, specific regulations, monitoring and accountability for our ethical perfor- mance, along with training, awareness-raising and capacity building for employees, service providers and suppliers. EDPR requires its suppliers and service providers to comply with their ethical standards. In this way, the alignment with the spirit of EDPR’s Code of Ethics is required. Moreover, the Sustainable Procurement Policy references the promotion of respect for dignity and human rights, and the rejection of any form of forced labour or child labour, harassment, discrimination, abuse or other types of physical or psychological violence. In addition, as stated in its Code of Ethics, EDPR promotes a culture free from any sort of harassment, understanding this to be systematically undesired behaviour of a moral or sexual nature, in a verbal, non-verbal or physical form, which has the goal or effect of disturbing or embarrassing another person, or affecting their dignity or creating an intimidating, hostile, degrading, humiliating or destabilizing environment. Harassing forms of behaviour in a business context violate the victims’ labour rights, and may affect their value as people and workers, causing harm that can have an impact on their self-esteem, physical and mental health, life project and family relationships. Therefore, in addition to the legal obligations to which EDPR is subject to, the Code of Ethics also states that it is the duty of all employees to prevent, confront and report any and all behaviour that may preclude a situation of har-assment. In this regard, the Code of Ethics has its own regulation that defines a process and channel, open to all stake-holders, to report any potential claim or doubt on the application of the Code. An Ethics Channel is available for the communication of any breach of the Code related to the matters of human rights or labour practices, including those in the context of the supply chain. The Ethics Ombudsman receives ethical-related com- plaints, investigates and documents the procedure for each of them. A preliminary report is then submitted to the Ethics Committee, whose main goal is to ensure compliance with the Code of Ethics within EDPR.

81 3.4.3. Supporting communities The Company believes that besides excelling in the way it performs, there must be a main factor weighing in every action or activity EDPR does – people. The Company considers that in order to have a positive impact on society, it is vital to work for the common good by promoting and supporting social investment activities. In 2021, following a strategic reflection on social investment at EDP Group level, the new strategy for social investment reinforces two major topics - Fair Energy Transition, and Culture - having defined concrete objectives for the allocation of social investment to each of these themes. • The Fair Energy Transition theme, which englobes social investment activities such as Closer2You, Keep it Local, Wind Experts and Your Energy, aims to promote energy efficiency, renewable energy and decarbonization through increased awareness, supporting education on renewable energy for all. This thematic focus is greatly aligned with EDPR's busi- ness and therefore also promotes a more efficient use of the Company’s skills, thus contributing to supporting commu- nities in a more efficient manner. • The Culture theme, which englobes EDPR’s Powering Culture initiative, contributes to the protection and promotion of cultural heritage, local traditions and access to culture and art, contributing to a more vibrant and creative society. In parallel, and recognising the need to continue supporting projects that respond to other social needs of the communities where EDPR is present, the Company will maintain its investment in various topics such as health, social inclusion and re- sponse to emergency situations, among others. In this context, and as an integral part of the communities where it operates and as stated in its Code of Ethics, EDPR undertakes to maintain a relationship of proximity with the local communities engaging in regular and open dialogue, seeking to know their needs, respecting their cultural integrity and looking to contribute to improve the living conditions of local population, taking measures to consider and respect the community interests. Therefore, in line with its social investment strategy and the communities’ needs and expectations, EDPR has defined a Catalogue of Activities that works as a tool for defining the social investment made in local communities. Nevertheless, in addition to the development of social activities, EDPR provides long-lasting economic benefits to the surrounding areas that include, but are not limited to, infrastructure investments, tax payments, landowners’ royalty payments and job creation. However, as a responsible company, EDPR works to promote the wellbeing and development of not only the communities where it operates but also of society in general, focusing on the people who contribute to the success of the Company’s business and how society may benefit from it. Specifically, as a global leader in the renewable energy sector, EDPR defined a clear strategy for promoting Access to Energy (A2E): to provide clean energy in developing countries based on energy efficiency and decentralised renewable energy solutions, promoting the sustainable development of communities involved. Access to renewable energy makes the difference for people not connected to the electricity grid not only by providing sus- tainable energy services but also by enabling improvement on health and education conditions, job creation and new eco- nomic activities. Moreover, the use of clean energies and the promotion of energy efficiency has a positive impact on the environment. In 2018, EDPR purchased a stake in SolarWorks!, a company engaged in the marketing of decentralised solar energy solutions for off-grid domestic and business customers in Mozambique. The acquisition of the €2.2 million minority stake was an important step in the group's strategy for universal access to sustainable energy. In 2019, EDPR reinforced its strategy to promote universal access to sustainable energy by investing $2.9 million in Rensource, a company that develops and manages decentralised solar energy systems, to support its expansion in Nigeria. The investment, which was the result of a financing initiative completed by EDPR and other international investors, allowed EDPR to participate in Africa's largest market and to bring sustainable, low-cost energy solutions to more communities. The Company believes that the A2E initi- ative powerfully contributes to make EDPR’s vision of a sustainable, safe and healthy world a reality. The objective of supporting communities is fully supported by the Company’s new and more ambitious 2021-25 Business Plan, in which EDPR commits to contribute to the decarbonization of the economy by promoting clean energy while operating in a sustainable way across the three ESG dimensions. Within the new Business Plan, one of the targets set by EDPR is to invest €7 million per year in social investment and A2E. During 2021, EDPR invested a total of €6.6 million in supporting communities, of which €4.8 million are related to A2E and €1.7 million are a result of activities such as internally developed and collaborative initiatives, donations to charitable organ- isations and volunteering activities. 17% of EDPR employees participated in volunteering initiatives, contributing with more than 900 hours of their time to the development and wellbeing of the society.

As a clean energy company, EDPR is strongly committed to the protection of the climate by stepping-up to the challenge of the decarbonization of the economy. By producing renewable energy, EDPR is contributing to the world’s ﬁght against climate change. During the development phase, EDPR’s teams of highly experienced and qualiﬁed developers start by locating sites with quality renewable resource (wind or solar) with nearby electricity transmission lines. EDPR aims to be a reference in the industry for building the most cost competitive, safe and efﬁcient wind farms and solar plants in order to generate clean energy and help protect the climate. The Procurement, Engineering and Construction teams from EDPR are well equipped to select the best wind turbines and solar panel systems based on each project’s speciﬁcs. The Company also uses in-house expertise to design the best sites, and assure top-class engineering and construction standards. Development Construction Beyond the emissions related to the operation phase, from a life cycle point of view, others shall be considered (manufac- ture of components, transport, construction...). EDPR carries out environmental viability studies to detect the environmental constraints and to ensure the best location of the project. It is key in this phase to have a circular economy approach to guarantee respect for the environment and to ensure a efﬁcient use of natural resources in the following phases. It is also the phase to select and contract suppliers that prioritise materials and products with a high proportion of recyclable materials or a high possibility of recycling at the end of their useful life. The construction phase is essential for circularity of the The Company, which promotes the efﬁcient use of natural resources in the value chain, in particular by minimizing the use of resources, by maximizing the recovery of resources and its reintroduction into the economy as by-products. EDPR is working on gathering waste generation data for its sites in construction. The potential environmental impacts of each project are assessed in detail in the Environmental Impact Studies and other speciﬁc studies, and are always performed by professional external experts. These studies evaluate the potential impacts that a project may have on biodiversity aspects such as fauna, ﬂora, soil, air and water bodies, among others. During 2021, EDPR invested more than 3 million euros in Environmental Impact Studies of its projects in the development phase. The construction process is closely followed by EDPR, who works to minimise potential impacts or disturbanc- es and ensure proper restoration of the land once the works ﬁnish. In 2021, EDPR ﬁnished the land restoration of four projects after construction works, restoring 98% of the hectares that were vegetally affected by the projects. In addition, EDPR implemented ecosystem enhance- ments at a solar farm in the US through installation of pollinator-friendly long-term vegetative cover through- out the site. Climate Change Circular Economy Biodiversity 2021-25 Business Plan Targets Gross additions 20 GW Recovery rate for waste generated in the whole value chain 85% Facilities with high biodiversity risk with action plans deﬁned 100% 82 3.5 — Natural Capital Wind and solar power are two of the most environmentally friendly ways of producing energy and actively contribute to the decarbonization of the economy. Even though EDPR's business inherently implies a positive impact on the environment, the company continues to work on a daily basis to hold itself to a higher standard. Accordingly, promoting clean energy while operating in a sustainable way across the three ESG dimensions is one of the key messages of the new 2021-2025 Business Plan, which includes three speciﬁc targets related to the environmental performance of the Company.

Operation Dismantling / Repowering EDPR produces renewable energy, which inherently implies the reduction of GHG emissions. Wind and solar energy have zero carbon emissions and do not produce harmful SOx, NOx or mercury emissions, protecting valuable air and water resources and contributing to the world's ﬁght against climate change. During 2021, EDPR's operations avoided the emission of 18.3 million tons of CO 2 . The CO 2 emissions related to EDPR's activities represent 0.2% of the total amount of emissions avoided. EDPR promotes a culture of rational use of resources. Thus, the Company encourages the recovery of waste rather than disposal through recycling and other means. Accordingly, EDPR recovered 80% 2 of the waste generated during operations. However, the waste is not directly linked to the generation process. Most of it is related to the turbines’ operation & maintenance and the rest is originated in the ofﬁces. In addition, generation from wind and solar energy does not consume water in its operational processes. In order to guarantee that the suppliers comply with environmental requirements during construction and O&M, EDPR has an environmental monitoring plan implemented by an external party. Within this frame- work, EDPR performs internal inspections to monitor the suppliers environmental performance, which includes biodiversity related indicators. In 2021, EDPR performed 1,246 inspections to 186 suppliers on their environmental procedures during the construction and operation of the Company’s projects. Both due to efﬁciency or end of life, wind turbines and solar panels are assessed and replaced. One of the solutions implemented by EDPR is repowering the wind farm, which implies reducing the overall number of wind turbines and replacing them with more efﬁcient ones. This results in a net increase of power generated, reduced land area per MW and, due to the use of more modern wind turbines, a better integration with the grid and reduced noise pollution, while also maximizing the production of clean energy. The main waste generated in this phase are dismantled turbines, which are c.80%-90% 3 recyclable. EDPR participates in several initiatives to ﬁnd a solution for the remaining percentage and encourage circular economy. In this context, in the Corme wind farm in Spain which was repowered in 2021, EDPR was able to recycle 77% of the wind turbines, and sold the other 23% (in weight). In addition, 95% of all 219 disman- tled blades at the Blue Canyon II repowering project the US were recycled. Even though EDPR works to minimise any impact on the land surrounding its facilities, the Company commits to clean up and rehabilitate the sites to return the area to its initial state. In this context, EDPR restored 100% of the vegetal cover affected by the repowering of the Corme wind farm in Spain that took place in 2021. 83 EDPR's Environmental Policy, updated during 2021, assumes speciﬁc commitments to the mitigation of climate change, promo- tion of circular economy and biodiversity protection. The policy reﬂects EDPR’s approach of complementing its business strategy with a proactive and responsible environmental management along the entire value chain. As stated in its Environmental Policy, EDPR seeks to prevent, correct or compensate the potential impact of its activities on the environment through commitments that ensure the implementation and maintenance of an effective Environmental Management System. The integrated Health & Safety and Environmental Management System, which was developed and certiﬁed according to international standards ISO 45001 and ISO 14001 for a more global and efﬁcient approach, simplifying processes and managing the potential risks of its activity, was implemented and certiﬁed by an independent certifying organisation. By the end of the 2021, the ISO 14001 certiﬁcation covers 100%1 of EDPR’s installed capacity. EDPR wind farms with a projected life span of 30 years will pay back its life cycle energy consumption in less than a year', meaning, more than 29 years of a wind farm's life will be producing clean energy. 1 Calculation based on 2020YE installed capacity EBITDA. EDPR certiﬁes the facilities the year after the COD (commercial operating date). Thus, the facilities that have entered into operation in 2021 will be certiﬁed in 2022; 2 Excluding non-recurrent events; 3 According to the life cycle assessments of our main turbine suppliers.

84 Digital Capital The digital journey is a never-ending transformation given the rapid evolution of Technology and its big impact on the Busi- ness and the People. Accordingly, digital transformation is one of EDPR's strategic pillars for the coming years, as we must continue to improve our digital capabilities to stay competitive with our peers as we continue to grow. EDPR’s digital strategy involves not just the use of new technologies, but also upskilling and reskilling people to use these technologies, along with a clear definition of the processes that will change from physical to digital. In this context, “digitalise” is one of the action verbs of EDPR, that includes a very significant number of innovative projects with the same purpose: “Business transformation” and “Business culture”. During 2021, different initiatives have been deployed towards having a holistic approach to digital within EDPR. As such, a Digital Transformation Committee was formally created to sponsor and enable digital transformation as a competitive ad- vantage for EDPR. The Committee is sponsored directly by the Management Team and the 3 main areas that were desig- nated Boosters (People, Process, Technology). The boosters have as main responsibilities the day to day support and monitor of the digital initiatives taking place, to facilitate the adoption of digital trends as Robotics & Automation, Analytics & Big Data, AR/ VR, Blockchain, Digital Platforms, IA and Mobile and to boost the Digital Culture and mindset within the Company. The DTC (Digital Transformation Committee) also has the contribution of all the main core areas with the role of Enablers. Areas such as Asset Operations or Engineering and Construction that contribute to identify the main pain points, generate needs and ideas and help to implement/promote the solutions in areas that have a real impact on the core areas of EDPR Value Chain. Additionally, a multidisciplinary team, the Digital Accelerator, has been created. This team is working with the existing EDPR Boosters and is contributing to achieve the ambitious metrics that EDPR has towards Digital Transformation, bringing a new approach to problem-solving involving the business in ideation, planning and implementation of new solutions. Throughout the year, EDPR invested €12 million in Digital projects and obtained a score of 4.05 on a scale of 1 to 5 in the “IDC Digital Maturity Index” (compared to 3.48 achieved last year). EDPR is now a Digital Transformer according to the scale of the index, comparing to a Digital Player from last year’s result. The “Digital Maturity Index” is an internal evaluation that fosters the continuous improvement mindset in EDPR. In 2021, the followed model was established by IDC, “The Future Enterprise”, based in five pillars: 1) Leadership at scale; 2) Empathy at scale; 3) Work model at scale; 4) Resilience at scale; 5) Insight at scale. 3.6.

85 Technology The focus of digitalisation is seen as the way to achieve the necessary capacity to adapt in new contexts and to maximise operational efficiency (characterised by a high-level performance, in a global community). EDPR participated in different typologies of IT/OT projects adapting it to the different business challenges specific needs and level of maturity, to ensure that initiatives are accordingly followed with the best practices of architecture and security: • “Quick-wins” (small proof of concept; up to 2 months) • “mVP” (minimum Viable Products; from 3 to 6 months) • “Boost” (corporate transversal projects; from 6 months to 1 year) • “Core teams IT projects” (projects or products to support the operation of business units and is included all operation, maintenance and technological evolution of applications and infrastructure such as Big Data; Outsystems Products) In 2021, EDPR participated in 9 mVP’s, 1 “boost” to edpON, and the main “Core teams IT” projects were essentially in the O&M area namely with the EDPR Mobility Program that support organisation needs, promoting the team’s agility and im- proving productivity (Web & App UX front end to manage the main processes related with plant maintenance). EDPR, with the collaboration of DGU (Digital Global Unit), launched an mVP Digital 1:1 with the purpose of bringing digital to all the users and allowing the Group to follow and monitor all the digital initiatives and KPI’s. EDPR is the pilot of this corporate tool launched by the end of 2021, and during 2022 the tool will be expanded to all the remaining companies. The continuous reinforcement of Agile methodology within IT teams working closely with the business areas represented a very significant boost in new ways of working, adding design thinking culture to a growing communication between teams and a promptly deploy of new tools and added functionalities. Moreover, Cybersecurity is increasing and it is one of the main points for the operational business and strategic information definition of the Company. The BitSight rating is focused on the organisation's cybersecurity risk, with less elasticity. By the end of 2021, EDPR maintained the rating of "Advanced" with 792 points, exceeding the Group KPI of 740.

86 Processes EDPR is focused on ensuring that business processes are clear, efficient, aligned with business needs, and known to all stakeholders. As such, EDPR’s Process Map is based on the EDPR Value Chain and critical processes are aligned towards meeting key business objectives. In 2021, efforts were focused on assessing the state of digitalisation across EDPR’s Value Chain. A “digital start” exercise was performed where EDPR identified over 40 critical digital priorities. In addition, EDPR continued with its existing programs to fast-track digital transformation at the Company: • With more than 273 initiatives, the Plan for Optimisation of Administrative Processes (POPA) program continues into its second year of automating and streamlining administrative processes. • The use of digital process technology was a priority and an important step to provide digitalisation in support of knowledge work. Moreover, this technology is key to accelerate digitalisation of processes. In 2021, EDPR teams cre- ated approximately 165,000 digital records across the Company’s 140 tools. New developments include a recently implemented development milestone tracker, retrofit campaign process manager, and invoice validation console to streamline Accounts Payable workflows. • The increasing evolution of Robotic Process Automation (RPA) technology represents an important milestone at EDPR. In 2021, RPA was adopted across 81 participating departments to increase efficiency, reduce new headcount require- ments, and support profitable growth. This technology is performing many of the repetitive tasks that would have previously fallen on multiple employees across a variety of departments. Currently, 309 different automations are in place throughout EDPR, and in 2021 these automations performed tasks that would have taken employees an esti- mated 166,000 hours to do on their own, enabling employees to focus on activities that are more valuable. The value generated from Business Process Management (BPM), Business Intelligence Tools (BI) and Robotic Process Auto- mation programs (RPA), through hours saved and cost avoidance, amounted to €11.6 million in 2021.

87 People Every change in culture must start with people, and when talking about Digital Transformation it implies a change in our mindset to become more digital. Digital transformation only takes place if the people with the necessary skills are involved in the process. Following the training roadmap initiated in 2019 on Digital Upskills, in 2021 different initiatives have been launched towards empowering people in this Digital Transformation Process. "Digital Upskills" is an initiative implemented in 2020, based on the monitoring of digital skills and know-how of employees. The intention is to reinforce an increasingly digital culture and to give new capacities in this phenomenon that is constantly changing. These initiatives are based on the 70-20-10 devel- opment methodology, so the roadmap includes not only training moments (10), but also learning initiatives through knowledge sharing and relationship development (20), as well as through on-the-job experiences (70). During 2021, EDPR delivered 6,146 training hours in digital courses (9.2% of the total training hours) with 14,772 attend- ances (25.5% of the total), highlighting ongoing digitalisation initiatives on Cybersecurity (such as a specific TechSeries webi- nar), collaborative tools within the O365 suite, Agile methodologies, Data Analysis tools, Digital Transformation, SMART business, IoT, Cloud, Artificial Intelligence and other cutting-edge topics). In addition, digital contents were another important pillar of the digital skills transformation: new resources coming from eLearning solutions, recorded webinars conducted in- ternally by employees or the consolidation of the UDEMY for Business portfolio with over 5,000 online courses added to the learning offer at EDPR. At the end of 2021, 83.2% of the employees received training in digitalisation during the year. EDPR maintains the discussion during regular meetings in the Digital Transformation Committee composed by the main stakeholders in this field and lead by the CEO, whose main objective is to foster digital skills or mindset as part of the Digital culture and promote collaborative skills to work more efficiently, and the automation or robotisation of tasks and processes as part of the digital transformation path. Employee involvement is considered key in this process and therefore the Digital Transformation strategy is focused on peo- ple. The three drivers included in this strategy (digital mindset, digital environment, and digital roles/skills) aim at extending the Digital Mindset throughout the Company. The digital training roadmap is planned to be delivered across three pillars, considering different profiles and background of employees: New initiatives are expected to be launched regularly in order to reinforce and ensure that a digital culture is spreading all over the Company and that everyone is on board with the changes that will happen across the business.

88 CLEANER ENERGY Innovation Capital Technical innovation is one of the hallmarks of EDPR. The Company’s history is built on the continuous searching of new trends and solutions in energy production to meet its stakeholders expectations. Accordingly, EDPR develops projects within the framework of its two main strategic pillars for Innovation: Cleaner Energy focused on sustainable power generation, and Energy Storage & Flexibility to ensure a smoother transition to an energy mix system. SOLAR PV module technologies benchmark @PV TECH LAB (in Évora, Portugal) New PV module testbed showcasing the most promising technologies of this decade. The structure consists of a fixed-tilt rack with front and rear side irradiance moni- toring, on which five module technologies will be in- stalled: P-PERC, SHJ, Shingled, CdTe, and Pk/c-Si tan- dems. Hybrid Power Plants EDPR, as part of its R&D strategy, boosts efforts to offer sustainable energy solutions that meet the increasing need to balance energy supply with grid demand. Hybrid power plants combine various sources of power generation and energy storage to accentuate the posi- tive aspects and address the challenges of a specific generation type, in order to produce power that is more affordable, reliable, and sustainable. 3.7. WIND Repowering Both due to efficiency or to end of life, wind turbines and solar panels are assessed and replaced. With the aim of improving the service life of its wind farms, EDPR is continuously seeking to improve the technol- ogies that will help it to do so. One of the solutions im- plemented by EDPR is repowering the wind farm, which implies reducing the overall number of wind tur- bines and replacing them with more efficient ones. This results in a net increase of power generated, reduced land area per MW and, due to the use of more modern wind turbines, a better integration with the grid and reduced noise pollution, while also maximizing the pro- duction of clean energy. In 2021, EDPR repowered its Corme wind farm in Spain and the Blue Canyon II wind Farm in the US, rep- resenting a critical step toward extending the longev- ity and efficiency of the its projects. EDPR anticipates that the repowering procedure will create an annual increase of more than 30 percent in the project’s power production and will extend the pro- ject's life an additional 20 to 30 years. In addition, 77% (in weight) of the turbines in Corme and 95% of all 219 dismantled blades in Blue Canyon II were recycled. Digital wind turbine twins EDPR Technology is exploring the digitisation of wind farms using digital twinning techniques to monitor as- set reliability and operate for a longer lifetime than cur- rent industry standards. To this end, 200 MW are be- ing tested.

89 CLEANER ENERGY ENERGY STORAGE & FLEXIBILITY EDPR’s commitment to innovation and new technologies has made it a leader in the renewable energy sector. Currently, the Company continues to take advantage of all expertise obtained since the start of its inception to ensure more efficient solu- tions, more attractive returns and a more sustainable future. As a result, EDPR engages in projects that englobe wind energy, solar energy, energy storage plants, floating offshore wind farms, green hydrogen and hybrid power plants. HYDROGEN Green hydrogen EDPR has established in 2021 a dedicated hydrogen business unit (H2BU), aiming to support investments tar- geting 250 MW of electrolysis capacity by 2025 and 1500 MW by 2030. To achieve this ambition, the H2BU is promoting the de- velopment of renewable hydrogen projects at different scales, ranging from large centralized production hubs (~100 MW electrolysis capacity) to small-scale self-con- sumption units (1-10 MW electrolysis capacity). The GreenH2Atlantic, a 100 MW project in the closed Sines coal power plant, is a flagship project being devel- oped. The project aims to demonstrate the ability to pro- duce renewable hydrogen at competitive prices, having been one of only three projects selected by the European Commission for funding under the Green Deal call. The establishment of partnerships is also a key priority, with EDPR valuing the collaboration with different types of stakeholders to combine expertise and share risks. One example of such collaborations is with Repsol, which foresees the joint development or co-investment in renewable hydrogen projects in Iberia. BATTERY STORAGE Energy Battery Storage EDPR has been working on different projects to improve battery life, improving and maximising battery life in or- der to obtain the highest possible efficiency, allowing to get more potential out of them. BESS (Battery Energy Storage System) State- of-Health modelling & monitoring EDPR Technology team is working on the development of software and hardware tools to enable better analysis of the SOH (State of Health) of lithium-ion batteries. SOH is a key parameter that determines the remaining capac- ity (Ah) of a battery cell as a function of the degradation experienced by both cyclic degradation and lifetime. Thus, through an accurate characterisation of the SOH, optimisation of the complete lifetime of a BESS project (from design/sizing to operations/maintenance) can be achieved. As a complementary activity, modelling is also extended to the other components of a BESS, mainly the Power Conversion System (PCS). The PCS acts as the connect- ing element between the DC component and the AC in- terface. The PCS is of vital importance to extract the full potential of a BESS as a provider of key and novel appli- cations for the grid (RES integration, grid formation, etc.). Different power conversion system topologies for grid in- tegration of lithium-ion batteries are analysed and mod- elled in order to assess their capabilities with respect to each of these applications.

EDPR supplies affordable & clean energy while mitigating the climate change… EDPR is a global leader in the sector of renewable energy and one of the world’s largest wind energy producer, ending the year with 13.6 GW of installed capacity. In 2021, the Company generated 30.3 TWh of clean energy, a cost-effective way to ﬁght climate change. Wind and solar power are two of the most environmentally friendly ways of producing energy. EDPR’s business inherently implies the reduction of GHG emissions and therefore has a positive impact on the environment. In 2021, EDPR’s activities avoided the emission of 18.3 million tons of CO . 2 …impacting positively on communities & fostering innovative infrastructures & circular economy… EDPR works to promote the wellbeing and development of the communities where it operates and of society in general. In 2021, EDPR invested €6.6 million in supporting communities, of which €4.8 million are related to A2E and €1.7 million are a result of activities such as internally developed and collaborative initiatives, donations to charitable organisations and volunteering activities. Innovation is part of EDPR’s day-to-day reality. The Company is focused on the more disruptive technologies of the industry and is committed to foster innovative solutions throughout its entire value chain. In 2021, EDPR centred on promoting digital skills and 83% of its employees participated in digitalisation trainings. Even though EDPR is in the renewable energy business, it goes beyond its commitment with sustainability by fostering a culture of responsible operations and circular economy. In 2021, EDPR recovered 80% of total waste generated and 95% of hazardous waste generated. …ensuring decent work, gender equality & preservation of the environment. EDPR continuously works to provide excellent conditions for its employees, grow and develop talent at all levels and optimise its employment policies and labour practices. As a result, EDPR has been recognised as a Top Employer in Europe for the third consecutive year, and as a Top Workplace in the US. In 2021, EDPR was featured for the second consecutive year in the Bloomberg Gender-Equality Index. The Company's inclusion in this index highlights EDPR's work to promote equal opportunities for women through development, representation and transparency policies EDPR’s business is its best contribution to reduce biodiversity loss. Nevertheless, the Company’s commitment to contribute to the protection of biodiversity leads to an active role in the conservation of wildlife surrounding its facilities. In 2021, EDPR finished the land restoration of five projects after both construction and repowering works, restoring 99.7% of the hectares that were vegetally affected by the project. —Sustainable Development Goals 3.8 90

95 Materiality assessment The macro-economic context, where the challenges of sustainability are increasing, summing up with the diversity of EDPR’s stakeholders, results in a large and complex list of important issues, which must be prioritised according to its relevance and significance. An issue is considered material when it influences the decision, the action and the performance of an organisa- tion and its stakeholders. 4.1.1. Background and objectives EDPR’s material issues were identified and the results achieved supported the preparation of this Annual Report, as reflected in the Company’s management strategy and, in particular, in its agenda for sustainability. 4.1.2. Methodology The methodology adopted is based on the Accountability Standards and the information is collected corporately and within each business units as well. Materiality is acquired by the interception of the issues identified by stakeholders with the importance given internally by the business. The topics identified by the Company are prioritised according to the frequency with which they appear in the different categories analysed. Relevance for society The relevance for society is determined by the importance/impact of a specific theme from an external perspective to the Company, designated as society perspective. Therefore, the society vision reflects the vision idea/concept of the several stakeholder groups that have influence on or are influenced by EDPR’s activities. This vision must be achieved through sources that ensure independence from the Company to collect, on most cases, external data. In parallel, the establishment of a society perspective is also supported by documents, analysis and international/national specific studies that allow a broad outlook on the emerging trends in the sustainability area. Consequently, the Company considers that the vision of the several stakeholders reflects the vision of society, thus allowing the assessment of the ex- pectations outside EDPR. Relevance for business The vision of the business is obtained through the evaluation of the importance/impact of a specific theme from an internal perspective to the Company. This vision is originated from the analysis of the defined business strategic goals as these depict the current positioning and concerns of EDPR and reflect the future vision of the business. In 2019, EDPR defined a new strategic plan until 2022 and, thus, the material issues for the Company in which this assessment was based were updated accordingly. Results The materiality matrix describes visually and promptly the most sensitive and impacting themes by comparing the relevance to society with the relevance to the business. The critical and sensitive themes for EDPR, obtained from the analysis of the mate- riality matrix, allows the Company to drive the strategy and support the decision-making process as well as to focus the report of information based on shared interests between EDPR and stakeholders, facilitating the relationship between them. 4.1.

97 Climate Change For information regarding GRI 103 – Management Approach for this material topic, please refer to section Selective Growth of the chapter Strategy and to section Operational Performance of the chapter Execution. GRI EU1 – Installed capacity, broken down by primary energy source and by regulatory regime INSTALLED CAPACITY UN 2021 2020  YoY EUROPE Spain MW 2,349 2,304 +45 Portugal MW 1,162 1,258 (96) Rest of Europe MW 2,216 1,403 +813 Total MW 5,727 4,966 +761 NORTH AMERICA US MW 6,500 6,299 +201 Canada MW 130 68 +62 Mexico MW 400 400 - Total MW 7,030 6,766 +263 LATIN AMERICA Brazil MW 795 436 +359 Total MW 795 436 +359 APAC Vietnam MW 28 - +28 Total MW 28 - +28 GRAND TOTAL MW 13,580 12,168 +1,411 Note: The reported data includes EBITDA and Equity MWs. As of December 2021, EDPR’s operational portfolio totalled 13.6 GW, of which 5.7 GW in Europe (including 2.3 GW in Spain, 1.2 GW in Portugal and 2.2 GW in Rest of Europe), 7 GW in North America (6.5 GW in the US, 0.1 GW in Canada and 0.4 GW in Mexico), 0.8 GW in Brazil and the remaining 28 MW in Vietnam. From the 13.6 GW of installed capacity, 12.4 GW correspond to wind onshore technology, 0.9 GW are related to solar PV, and 0.3 MW to offshore wind technology. During 2021, EDPR added a total of 2,584 MW (not including the 401 MW of solar that Sunseap had in operation in the APAC region by the end of the year). More specifically, EDPR added 1,769 MW of wind onshore, corresponding to 682 MW in Europe, namely 56 MW in Spain, 135 MW in Portugal, 56 MW in France, 144 MW in Italy, 272 MW in Poland, 45 MW in Greece and 5 MW in the UK, while in North America 930 MW of wind onshore were added, more precisely 870 MW in the United States and 62 MW in Canada. Finally, in Latin America, EDPR added 156 MW of wind onshore in Brazil. In terms of solar, 272 MW were added in the US, 204 MW in Brazil, and 28 MW in Vietnam, that marked EDPR entry the APAC region. Meanwhile, during the year, EDPR added 311 MW of offshore wind capacity in Europe through Ocean Winds. Pursuing its Asset rotation strategy, EDPR successfully concluded several Asset rotation deals. In detail, a 100% stake in a 302 MW wind project, an 80% stake in a 405 MW wind portfolio and an 80% stake in a 200 MWac solar project, all in the US and in Portugal. During the last quarter, EDPR was able to conclude an Asset rotation deal of a 100% stake in a 221 MW wind portfolio. All in all, in the year of 2021, EDPR consolidated portfolio net variation was of +1,411 MW. 4.2.

98 GRI EU2 – Net energy output broken down by primary energy source and by regulatory regime ELECTRICITY GENERATED UN 2021 2020 % YoY EUROPE Spain GWh 4,979 4,346 +15% Portugal GWh 3,049 2,624 +16% Rest of Europe GWh 3,329 3,054 +9% Total GWh 11,357 10,024 +13% NORTH AMERICA US GWh 15,814 16,633 (5%) Canada GWh 255 78 +228% Mexico GWh 987 710 +39% Total GWh 17,057 17,421 (2%) LATIN AMERICA Brazil GWh 1,888 1,093 +73% Total GWh 1,888 1,093 +73% APAC Vietnam GWh 23 - - Total GWh 23 - - GRAND TOTAL GWh 30,324 28,537 +6% EDPR produced 30.3 TWh of clean energy in 2021 (+6% YoY). The YoY evolution comes in line with a higher average in- stalled capacity YoY following the multiple additions in the period, that more than offset the execution of EDPR’s Asset rotation strategy – 1Q19: 997MW of European Assets (-1.2 TWh YoY); 1Q20: 137 MW in Brazil (-671 GWh YoY) and 4Q20: 237 MW in Spain (-64 GWh YoY). GRI 201-2 – Financial implications and other risks and opportunities for the organisation's activities due to climate change The Earth's climate has changed throughout history. Scientists attribute the current global warming trend observed since the mid-20th century to the human expansion of the "greenhouse effect" 1 – warming that results when the atmosphere traps heat radiating from Earth toward space. Over the last century, the burning of fossil fuels like coal and oil has increased the concentration of atmospheric carbon dioxide (CO2). EDPR is a clear example of how fighting against climate change creates business opportunities. The Company’s core busi- ness, to deliver clean energy by developing, building and operating top quality wind farms and solar plants, inherently implies the reduction of greenhouse gas emissions, contributing to the world’s fight against climate change and its impacts. Since its inception, EDPR has been performing a strategy focused on selective growth, by investing in quality projects with predictable future cash-flows, and seamless execution, supported by core competences that yield superior profitability, all embedded within a distinctive and self-funding model designed to accelerate value creation. As a result of undertaking such strategy, at the same time flexible enough to accommodate changing business and economic environments, EDPR remains today a leading company in the renewable energy industry. As presented in its 2021-25 Business Plan, EDPR plans to add 20 GW in the 2021-2025, of which 8.4 GW is already secured. EDPR will diversify its portfolio geographically and techno- logically even more, developing more wind onshore, solar, wind offshore, green hydrogen and storage technology along with the entrance in new markets. 1 IPCC Fifth assessment report, summary for policymakers.

99 During 2021, EDPR added 2,584 MW and finished the year managing a global portfolio of 13.6 GW. Benefiting from a diversified portfolio, the Company generated 30.3 TWh of renewable energy, avoiding the emissions of 18.3 million tons of CO2. Capital expenditures and financial investments with capacity additions, ongoing construction and development works during the year totalled €2,852 million. However, EDPR faces climate change not only as a business opportunity, but also as an opportunity to innovate. EDPR’s commitment to innovation and new technologies has made it a leader in the renewable energy sector. Currently, the Com- pany continues to take advantage of all expertise obtained since the start of its inception to ensure more efficient solutions, more attractive returns and a more sustainable future. As a result, EDPR engages in projects that englobe wind energy, solar energy, energy storage plants, floating offshore wind farms, green hydrogen and hybrid power plants. Nevertheless, on the risk side, meteorological changes may pose a risk for EDPR’s activities and results since they are carried out in areas of the planet that are being affected by climate change. In addition, future estimations of wind and solar pro- duction are based on analysis of historical measurements for more than 20 years and they are considered representative of the future. However, relevant unexpected meteorological changes could lead to a lower production than the one expected from historical data. Thus, when evaluating a new investment, EDPR considers potential changes in the production fore- casted but, even so, the size of the potential deviation in the case of relevant meteorological changes is uncertain. Moreover, renewable plants in construction and in operation are exposed to weather hazards, natural disasters, etc., which depend on the location of assets. At EDPR, all plants are insured from the physical damage during construction and operation. During operation, any natural disaster, weather hazard or accident will also be partially insured to revenue losses due to the event. Thus, no material impacts are identified in the EDPR’s consolidated financial statements as a consequence of climate change. As a sector leader, EDPR is aware of the urgency to fight climate change and even though its business inherently implies a positive impact on the environment, the Company continues to work on a daily basis to hold itself to a higher standard and to incorporate innovation in its value chain in order to further contribute to the protection of the climate. GRI 302-1 – Energy consumption within the organisation Wind turbines and solar panels require a small amount of electricity to operate. This energy consumption is generally self- consumed. Given the intermittency of wind generation, sometimes it is needed to consume electricity from the grid. ENERGY CONSUMPTION UN 2021 2020 % YoY WIND FARMS Electricity consumption GJ 323,462 296,457 +9% OFFICES Electricity consumption GJ 9,586 8,920 +7% Gas GJ 3,619 3,947 (8%) FLEET Petrol consumption GJ 27,441 25,109 +9% Diesel consumption GJ 5,469 5,144 +6% Bioethanol consumption GJ 108 - - Total GJ 369,686 339,578 +9% Note 1: Gas conversion factor according to Agência Portuguesa de Ambiente. Note 2: Fleet energy consumption refers to O&M fleet. Note 3: Data from offices refers to 1Q20 data and 4Q21 data (due to the remote work model implemented the rest of the year), except for O&M offices in NA. GRI 302-4 – Reduction of energy consumption EDPR’s activity is based on clean energy generation, and it produces about 289 times the energy consumed by itself. None- theless, the Company is conscious about promoting a culture of rational use of resources and promotes many internal cam- paigns to encourage sustainable behaviours. In this context, EDPR is promoting the transition of its fleet to electric and hybrid vehicles. As of December 2021, 33% of EDPR’s service fleet is hybrid or electric (+5pp YoY).

100 27.2 1.0 3.7 0.3 Wind Farms Energy Consumption Offices Energy Consumption Employees Transportation SF6 GRI 305-1 – Direct (scope 1) GHG emissions EDPR’s Scope 1 emissions represent 2,617 tons of CO2 equivalent, +9% vs 2020. 2,097 tons are emitted by transportation related to the sites operation, 190 tons by gas consumption in the Company’s offices and the rest of it is related to SF6. Part of the equipment used for electricity generation purposes contains SF6 gasses and during 2021, EDPR registered emis- sions of 14 kg of this gas, which is equivalent to 329 tons of CO2 eq. Note 1: Emissions were estimated according to GHG protocol (including official sources such as IPCC or the US department of energy). Note 2: Data from offices refers to 1Q20 data and 4Q21 data (due to the remote work model implemented the rest of the year), except for O&M offices in NA. GRI 305-2 – Energy indirect (scope 2) greenhouse gas (GHG) emissions EDPR’s CO2 indirect emissions (scope 2) represent 28,038 tons, -1% vs 2020. Of the 2021 scope 2 emissions, 27,206 tons are driven by electricity consumption by the wind farms and solar plants and 831 tons by electricity consumption in the offices. In 2021, 100% of the emissions related to electricity consumption in wind farms and offices in all EDPR countries have been compensated by Certifications of Origin in Spain and Renewable Energy Certifications (RECs) in the US, obtained from the renewable energy generation. Note 1: The emission factors used are based on the following sources: Portugal - EDP, Turbogás, Tejo energia, Rede Eléctrica Nacional (REN), and Entidade reguladora dos serviços energéticos (ERSE); Spain - Red Eléctrica de España (REE); Brazil - Ministry of Science and Technology – SIN (national interconnected system); Other European countries and Canada - IHS Cera. Note 2: Electricity consumption emissions were calculated with the global emission factors of each country and state within the US. Note 3: Data from offices refers to 1Q20 data and 4Q21 data (due to the remote work model implemented the rest of the year), except for O&M offices in NA. GRI 305-3 – Other indirect (scope 3) greenhouse gas (GHG) emissions EDPR’s work requires employees to travel and commute. Based on the estimates, the transportation used by employees accounted for a total of 1,568 tons of CO2 emissions, +22% vs 2020 mainly due to the resumption of business travel. Note 1: Emissions were estimated according to GHG protocol, by following the Defra standard. Note 2: Employee commuting emissions were calculated from data collected in a survey to all employees, and corresponds to 1Q20 and 4Q21 data (due to the remote work model implemented the rest of the year). Note 3: When calculating employees transportation by air, the radioactive factor is not considered. Note 4: Fleet energy consumption refers to O&M fleet. Total CO 2 emissions 27.6 1.0 3.2 0.3 Wind Farms Energy Consumption Offices Energy Consumption Employees Transportation SF6 CO 2 Eq. Emitted in 2020 (k tons) CO 2 Eq. Emitted in 2021 (k tons)

101 GRI 305-5 – Reduction of greenhouse gas (GHG emissions) EDPR’s core business activity inherently implies the reduction GHG emissions. Wind and solar energy has zero carbon emis- sions, contributing to the world’s fight against climate change and does not produce harmful SOx, NOx, or mercury emissions, protecting valuable air and water resources. It is estimated that the Company’s activities during 2021 avoided the emission of 18.3 million tons of CO2. The Company’s emissions represent 0.2% of the total amount of emissions avoided and 84% of the total emissions are from the necessary electricity consumption by the wind farms and solar plants. Even though EDPR’s activity is based on the clean energy generation, it is conscious about promoting a culture of rational use of resources and, in this context, the Company is promoting the transition of its fleet to electric and hybrid vehicles. Nevertheless, even though EDPR activity inherently implies the reduction GHG emissions, the Company goes one-step for- ward by compensating 100% of the scope 2 emissions. In 2021, 100% of the emissions related to electricity consumption in windfarms and offices in all EDPR countries have been compensated by Certifications of Origin in Spain and Renewable Energy Certifications (RECs) in US, obtained from the renewable energy generation. Note 1: To calculate the emissions avoidance, the energy generation has been multiplied by the CO2 eq. emission factors of each country and state within the US. EDPR considers the emission factor of just fossil fuel energy, as it is considered that by increasing the generation of renewable energy, there is a displac- ing of these technologies, while other renewable technologies and nuclear plants will continue with its quota of generation. Note 2: The emission factors used are based on the following sources: Portugal - EDP, Turbogás, Tejo Energia, Rede Eléctrica Nacional (REN), and Entidade reguladora dos serviços energéticos (ERSE); Spain - Red Eléctrica de España (REE); Brazil - Ministry of Science and Technology – SIN (national interconnected system); USA - emissions & generation resource integrated database (EGRID) for each state emission factor; other european countries, Mexico and Canada - IHS cera. Economic Business Sustainability For information regarding GRI 103 – Management Approach for this material topic, please refer to section Financial Perfor- mance of the chapter Execution. GRI 201-1 – Direct economic value generated and distributed ECONOMIC VALUE GENERATED AND DISTRIBUTED UN 2021 2020 ECONOMIC VALUE GENERATED Revenues €M 1,526 1,529 Other Income €M 813 700 Share of Profit in Associates €M 41 6 Financial Income €M 107 77 Total €M 2,487 2,312 ECONOMIC VALUE DISTRIBUTED Supplies and Services €M 325 304 Other Costs €M 164 123 Personnel Costs €M 175 141 Financial Expenses €M 347 362 Current Tax €M 45 32 Dividends €M 114 107 Total €M 1,170 1,069 ECONOMIC VALUE ACCUMULATED €M 1,317 1,243 4.3.

102 PROFIT BEFORE INCOME TAX UN 2021 2020 Spain €M 9 306 Portugal €M 420 104 France & Belgium €M -7 -3 Poland €M 65 21 Romania €M 77 30 Italy €M 66 14 Greece €M -10 - UK €M -2 0 Brazil €M 27 15 Colombia €M -12 - Chile €M -2 - US €M 252 276 Canada €M 3 -1 Mexico €M 20 13 Others €M -4 -5 Total €M 903 769 Value creation In a context in which climate change is one of the great challenges that society faces, and under the implementation of an integrated risk model, EDPR promotes clean energy through the development, construction and operation of wind farms and solar plants. Throughout its business model, EDPR transforms its industrial, financial, human, social, natural and intellectual capital, generating a competitive return for its shareholders, generating quality employment, promoting the development of the communities where it operates, having a positive impact on the environment and generating business and innovation together with the supply chain. All the components of value creation are included in different chapters throughout the Annual Report: • Context – Challenges and Opportunities: Chapter 2. Strategic Approach (Business Environment) • Risks: Chapter 2. Strategic Approach (Risk Management) • Business Model: Chapter 1. The Company (Business Description) • Capitals: Chapter 3. Execution (Financial Capital, including Industrial Capital in the section Operational Performance; Human Capital; Social Capital, in the subchapters Social Capital and Supply Chain Capital; Natural Capital; and Intel- lectual Capital in the Innovation Capital and Digital Capital subchapters). • Key stakeholders return: Chapter 3. Execution (Financial Capital, Human Capital, Social Capital, Natural Capital and Supply Chain Capital). Taxonomy Regulation The Taxonomy Regulation is a key component of the European Commission's action plan to redirect capital flows towards a more sustainable economy. It represents an important step towards achieving the path of carbon neutrality proposed by the European Commission and adopted in 2019 with the European Ecological Pact, as the Taxonomy is a classification system to identify whether or not a given economic activity should be considered as environmentally sustainable. In accordance with the legislation in force, in the following section EDPR presents 3 KPIs: the proportion of its 2021 revenues, capital expenditure (Capex), and operating expenditure (Opex) derived from Taxonomy-eligible economic activities associ- ated with environmentally sustainable economic activities – this is, related to climate change mitigation and climate change adaptation (the first two environmental objectives in accordance with Art. 8 Taxonomy Regulation and Art. 10 (2) of the Art. 8 Delegated Act). The specification of the KPIs is determined in accordance with Annex I of the Art. 8 Delegated Act, and EDPR determines the Taxonomy-eligible KPIs in accordance with the legal requirements.

103 Considering that its core business is the planning, construction, operation and maintenance of electricity generating power stations using renewable energy sources (mainly wind and solar), EDPR assigned the Taxonomy-eligible economic to the electricity generation from wind and solar power (economic activities 4.1 and 4.3 in accordance with Annex I and II of the Climate Delegated Act). The economic activities in this category could be associated with NACE codes D35.11 and F42.22 in accordance with the statistical classification of economic activities established by Regulation (EC) No 1893/2006. Nevertheless, for the calculation of these indicators, they were not disaggregated between economic activities. Instead, it was determined that the activities 4.1 and activity 4.3 should be fully allocated to climate change. In addition, it should be considered that EDPR's core business consists of these two activities, so the items considered for the calculation can be extracted directly from the company's financial accounting systems. Taking this into account, there is no risk of double count- ing the reported indicators in the numerator, and it has not been necessary to carry out any analysis or estimation in the allocation of income or expenses to different economic activities. Eligible Revenues TAXONOMY-ELIGIBLE ACTIVITIES TOTAL REVENUES (€m) PROPORTION OF TAXONOMY-ELIGIBLE REVENUES (%) Electricity generation from wind and solar power € 1,580 99% Definition The proportion of Taxonomy-eligible revenues was calculated as the portion of the total revenues derived from products and services associated with electricity generation from wind and solar power in the reporting period (numerator) divided by the total revenues in the reporting period (denominator). The numerator of the KPI is defined as the net revenues derived from electricity sales and from management services pro- vided to third parties for the asset management and O&M of wind farms and solar plants. These third parties include entities to whom EDPR sold assets in the context of its Asset Rotation strategy, and partners in EDPR controlled entities. The denominator of the revenues KPI is based on the Company’s consolidated revenues in accordance with IAS 1.82(a). Reconciliation EDPR’s consolidated revenues can be reconciled to the Company’s consolidated financial statements. Please refer to the income statement on page 3 of EDPR’s 2021 Consolidated Annual Accounts (line “Revenues”). Eligible Capex TAXONOMY-ELIGIBLE ACTIVITIES TOTAL CAPEX (€m) PROPORTION OF TAXONOMY-ELIGIBLE CAPEX (%) Electricity generation from wind and solar power € 2,522 99% Definition The proportion of Taxonomy-eligible Capex was calculated as the portion of the total Capex derived from products and services associated with electricity generation from wind and solar power in the reporting period (numerator) divided by the total Capex in the reporting period (denominator). The numerator consists of the Capex related to assets or processes associated with electricity generation from wind and solar power (considered as components necessary to execute the activity). Consequently, all Capex invested into planning, construction, operation and maintenance of wind farms and solar plants are considered in the numerator of the Capex KPI. Total Capex consists of additions to tangible and intangible fixed assets during the financial year, before depreciation, amor- tisation and any re-measurements, including those resulting from revaluations and impairments, as well as excluding changes in fair value. It includes acquisitions of tangible fixed assets (IAS 16), intangible fixed assets (IAS 38), right-of-use assets (IFRS 16) and investment properties (IAS 40). Additions resulting from business combinations are also included. Good- will is not included in Capex, as it is not defined as an intangible asset in accordance with IAS 38.

104 Reconciliation EDPR’s consolidated total Capex can be reconciled to the Company’s table on reconciliation between the Segment Infor- mation and the Financial Statements. Please refer to page 152 of EDPR’s 2021 Consolidated Annual Accounts (“Operating Investment of the EDPR Group”). Eligible Opex TAXONOMY-ELIGIBLE ACTIVITIES TOTAL OPEX (€m) PROPORTION OF TAXONOMY-ELIGIBLE OPEX (%) Electricity generation from wind and solar power € 201 98% Definition The proportion of Taxonomy-eligible Opex is defined as Taxonomy-eligible Opex in the reporting period (numerator) divided by the Company’s total Opex (denominator). The numerator consists of the Opex related to assets or processes associated with electricity generation from wind and solar power (considered as components necessary to execute the activity). Consequently, all Opex related to planning, construc- tion, operation and maintenance of wind farms and solar plants are considered in the numerator of the Opex KPI. The denominator, total Opex, consists of direct non-capitalised costs that relate to leases and rents, and maintenance and repairs, and any other direct expenditures relating to the day-to-day servicing of assets of property, plant and equipment. This value cannot be reconciled to Company’s consolidated financial statements, as it includes: • The volume of non-capitalised leases, which excludes expenses for short-term leases. • Maintenance and repair and other direct expenditures relating to the day-to-day servicing of assets of property, plant and equipment were determined based on the maintenance and repair costs allocated to the Company’s internal cost centers. The related cost items can be found in various line items in EDPR’s income statement, including production costs (maintenance in operations), sales and distribution cost (maintenance logistics) and administration cost (such as maintenance of IT-systems). Relevant definitions Taxonomy-eligible economic activity means an economic activity that is described in the delegated acts supplementing the Taxonomy Regulation (i.e. the Climate Delegated Act as of now) irrespective of whether that economic activity meets any or all of the technical screening criteria laid down in those delegated acts. Taxonomy-non-eligible economic activity means any economic activity that is not described in the delegated acts supple- menting the Taxonomy Regulation. Taxonomy-aligned economic activity means an economic activity that complies with all of the following requirements: • The economic activity contributes substantially to one or more of the environmental objectives; • It does not significantly harm any of the environmental objectives; • It is carried out in compliance with the minimum safeguards; and • It complies with technical screening criteria in the delegated acts supplementing the Taxonomy Regulation (i.e. Climate Delegated Act as of now).

105 Health & Safety For information regarding GRI 103 – Management Approach for this material topic, please refer to section Health & Safety of the chapter Execution. GRI 403-1 – Occupational health and safety management system The management of all issues related to health and safety is collected and described in the integrated Health & Safety and Environment Management System (HSEMS), which covers all employees and operations of the Company. The processes and procedures regulated in the management system are developed to comply with the legal requirements of each country, the ISO 45001 standard, and the requirements that have been considered appropriate by EDPR to carry out a correct manage- ment of the related issues with the H&S of all workers. GRI 403-2 – Hazard identification, risk assessment and incident investi- gation The process to identify hazards and assess the H&S risks arising from the Company’s activity and facilities is developed according to the Hazards Identification and Risks Assessment procedure of the HSEMS, in which responsibilities and meth- odologies are defined to ensure risks are reduced and, if possible, avoided. The Risk Assessment of each job position is reviewed and updated as applicable, pursuant to the Company’s commitment to continuous improvement. The preparation of these risk assessments is carried out by senior H&S technicians. The risk assessments, as well as the risk assessment procedure itself, are audited every year with an internal audit and the external audit of ISO 45001 certification. All the find- ings, conclusions, and recommendations that emerge from the audits, monitoring and other reviews are managed according to the Findings Management procedure of the HSEMS, and an action plan is drawn. The results of this action plan are re- viewed in subsequent audits. In addition, the Communication, Consultation & Participation procedure of the HSEMS includes information on hazards com- munication management. The process of risks communication is an effective tool to establish an active information channel, fast and effective among employees, managers and the top management, to act in the fastest way possible and avoid risks that may arise. To promote the participation and commitment of the entire Company, any employee may report anomalies or detected risks on H&S and environmental issues. When an unsafe act or condition is detected, the employee may report it in an internal tool, specifying whether an immediate action is required. EDPR’s commitment not to retaliate against any worker who expresses a concern about safety issues or who has intervened in any incident is included in the Company's Health & Safety Policy. The Policy also indicates that workers should remove themselves from work situations that they believe could cause injury or ill health, as no situation can justify endangering someone’s life. To know how to report, investigate and follow-up on an incident, there is an Incidents Management procedure available in the HSEMS. The purpose of this procedure is to define the process to identify, respond, report, analyse and investigate inci- dents and respond to emergency situations, as well as to take the necessary actions to prevent and/or mitigate them. GRI 403-3 – Occupational health services EDPR ensures that medical examinations are provided to the employees according to the legal requirements of each country, to determine whether a potential or current employee is medically fit to carry out their specific duties. EDPR has external medical services for all employees 2 for the medical follow-up, whose management is carried out directly by the medical service of the joint prevention service of the EDP Spain company. The detailed results of the medical examinations are con- fidential but shared with the employee, as EDPR receives only the conclusion of the examination: apt, not apt or apt with restrictions, indicating the restrictions. 2 Except for employees working from the Oviedo office 4.4.

106 GRI 403-4 – Worker participation, consultation, and communication on occupational health and safety A significant part of the Company plays a fundamental role in the implementation of its Health & Safety Policy. In this context, EDPR created health and safety committees that collect information from different operational levels. In addition, the H&S Policy, Management System and its procedures, as well as other health & safety aspects are communi- cated to employees using a multi-tier approach. The Policy is published on EDPR’s website and intranet, and is also printed and posted at each facility, as the HSEMS and its documented procedures are automatically available in every employee’s computer desktop for easy access. Moreover, the Company shares monthly H&S reports with its employees through Work- place, the social network that EDPR introduced as an internal communication tool in 2020. GRI 403-5 – Worker training on occupational health and safety The Company’s commitment to ensure high safety standards for employees and contractors make EDPR an increasingly safe place to work, prioritising the safety and wellbeing of all stakeholders with the objective of zero accidents overall. In order to achieve this goal, EDPR provides training to both its employees and its contractors regarding both generic occupa- tional health & safety aspects as well as training on specific work-related hazards. In 2021, EDPR provided 17,112 hours of training on H&S topics to its employees, which corresponds to 8.7 hours of training per employee on average. GRI 403-6 – Promotion of worker health During 2021, both physical and mental health were once again a global priority. In this context, EDPR has several initiatives focusing on employees’ health and wellbeing to ensure the continuity of care, providing employees with different tools and services such as access to an online medical consultations, TelePharmacy, physiotherapy and psychological therapy ses- sions. To raise awareness on mental health in particular, EDPR launched the Mind Your Mind campaign in October, which promoted educational talks with specialists, employees and other key stakeholders on how to approach the topic, especially in the current social context. In addition, the Company has a wellness platform to further develop a culture of wellness and encour- age healthy habits. The aim of the programs promoted by the platform is to create a culture where employees choose to voluntarily adopt healthy habits by sharing their experiences, form support networks to facilitate the process and motivate each other. In 2021, a virtual gym was included in the platform. GRI 403-7 – Prevention and mitigation of occupational health and safety impacts directly linked by business relationships To guarantee that the suppliers comply with EDPR’s requirements regarding sustainability in the supply chain, EDPR moni- tors strategic suppliers during their services delivery. EDPR performs internal inspections during the construction and oper- ation phases to monitor the suppliers performance regarding environmental and H&S aspects and to identify and conse- quently mitigate potential risks. In 2021, EDPR performed 1,670 inspections to 259 suppliers regarding H&S procedures. As a result of these inspections, the Company identifies corrective actions needed and establishes an action plan for continuous improvement. Moreover, to prevent possible H&S risks to workers from other companies, EDPR provides a risk guide for the facility to all contractors before starting their work on the facility. In addition, the Company requires that the contractors participate in drills that are carried out at the facilities, so that everyone knows how to act in the event of an emergency. EDPR also has established, through the HSEMS’s Safety Alerts Management technical instruction, the communication to contractors of any safety alert that may be applicable to the facility or the contractor.

107 GRI 403-9 – Work-related injuries RECORDABLE WORK-RELATED INJURIES UN 2021 2020 EMPLOYEES CONTRACTORS TOTAL EMPLOYEES CONTRACTORS TOTAL FATAL WORK-RELATED INJU- RIES # 0 1 1 0 0 0 Europe # 0 1 1 0 0 0 North America # 0 0 0 0 0 0 Latin America # 0 0 0 0 0 0 APAC # 0 0 0 - - - HIGH-CONSEQUENCE WORK- RELATED INJURIES 1 # 1 2 3 0 0 0 Europe # 0 1 1 0 0 0 North America # 1 0 1 0 0 0 Latin America # 0 1 1 0 0 0 APAC # 0 0 0 - - - WORK-RELATED INJURIES WITH LOST WORKDAYS 2 # 4 30 34 1 23 24 Europe # 2 16 18 0 6 6 North America # 2 6 8 1 7 8 Latin America # 0 8 8 0 10 10 APAC # 0 0 0 - - - Work-related injuries that result in fatalities and lost workdays # 5 33 38 1 23 24 Europe # 2 18 20 0 6 6 North America # 3 6 9 1 7 8 Latin America # 0 9 9 0 10 10 APAC # 0 0 0 - - - Recordable work-related injuries without lost workdays 3 # 3 24 27 5 22 27 Europe # 0 7 7 0 8 8 North America # 3 8 11 5 11 16 Latin America # 0 9 9 0 3 3 APAC # 0 0 0 - - - TOTAL RECORDABLE WORK- RELATED INJURIES 4 # 8 57 65 6 45 51 Europe # 2 25 27 0 14 14 North America # 6 14 20 6 18 24 Latin America # 0 18 18 0 13 13 APAC # 0 0 0 - - - 1 Excludes fatalities. According to GRI, refers to work-related injuries that result in an injury from which the worker cannot, does not, or is not expected to recover fully to pre-injury health status within 6 months. 2 Excludes high-consequence injuries. 3 Includes injuries that result in restricted work or transfer to another job, minor first aid injuries, and injuries that required medical treatment beyond first aid, or loss of consciousness; or significant injury or ill health diagnosed by a physician or other licensed healthcare professional. 4 Corresponds to the sum of recordable work-related injuries without lost workdays, and work-related injuries that result in fatalities and lost workdays. Com- muting incidents are not included (there were 4 commuting accidents in 2021 related to EDPR employees, of which 3 resulted in lost workdays). Note 1: The number of lost days is calculated as the number of calendar days starting the day after the accident. Note 2: The employee impacted by the high-consequence injury is male, and of the 4 employees impacted by injuries with lost workdays 3 are male and 1 is female. Even though EDPR does not register H&S indicators by gender for contractors, normally the majority of contractors working on EDPR sites are men. WORKED HOURS UN 2021 2020 EMPLOYEES CONTRACTORS TOTAL EMPLOYEES CONTRACTORS TOTAL Europe # 1,885,408 3,167,493 5,052,902 1,495,066 1,789,806 3,284,872 North America # 1,732,120 4,128,270 5,860,389 1,494,544 5,164,448 6,658,992 Latin America # 251,616 7,028,048 7,279,664 178,608 2,559,350 2,737,958 APAC # 9,224 49,542 58,766 - - - Total # 3,878,368 14,373,354 18,251,721 3,168,218 9,513,604 12,681,822

108 Note: Adjusted to exclude the lost workdays derived from accidents that occurred in 2020. Total non-adjusted lost workdays: 2,404. FREQUENCY RATE OF WORK-RELATED INJURIES UN 2021 2020 EMPLOYEES CONTRACTORS TOTAL EMPLOYEES CONTRACTORS TOTAL RATE OF FATAL WORK-RE- LATED INJURIES x 0.0 0.1 0.1 0.0 0.0 0.0 Europe x 0.0 0.3 0.2 0.0 0.0 0.0 North America x 0.0 0.0 0.0 0.0 0.0 0.0 Latin America x 0.0 0.0 0.0 0.0 0.0 0.0 APAC x 0.0 0.0 0.0 - - - RATE OF HIGH-CONSEQUENCE WORK-RELATED INJURIES 1 x 0.3 0.1 0.2 0.0 0.0 0.0 Europe x 0.0 0.3 0.2 0.0 0.0 0.0 North America x 0.6 0.0 0.2 0.0 0.0 0.0 Latin America x 0.0 0.1 0.1 0.0 0.0 0.0 APAC x 0.0 0.0 0.0 - - - RATE OF WORK-RELATED INJU- RIES WITH LOST WORKDAYS 2 x 1.0 2.1 1.9 0.3 0.0 1.9 Europe x 1.1 5.1 3.6 0.0 0.0 0.0 North America x 1.2 1.5 1.4 0.7 0.0 0.0 Latin America x 0.0 1.1 1.1 0.0 0.0 0.0 APAC x 0.0 0.0 0.0 - - - Rate of work-related injuries that result in fatalities and lost workdays x 1.3 2.3 2.1 0.3 0.0 1.9 Europe x 1.1 5.7 4.0 0.0 0.0 0.0 North America x 1.7 1.5 1.5 0.7 0.0 0.0 Latin America x 0.0 1.3 1.2 0.0 0.0 0.0 APAC x 0.0 0.0 0.0 - - - Rate of recordable work-related injuries without lost workdays 3 x 0.8 1.7 1.5 1.6 0.0 2.1 Europe x 0.0 2.2 1.4 0.0 0.0 0.0 North America x 1.7 2.0 1.9 3.3 0.0 0.0 Latin America x 0.0 1.3 1.2 0.0 0.0 0.0 APAC x 0.0 0.0 0.0 - - - RATE OF TOTAL RECORDABLE WORK-RELATED 4 x 2.1 3.9 3.5 1.9 0.0 4.0 Europe x 1.1 7.6 5.1 0.0 0.0 0.0 North America x 3.5 3.4 3.4 4.0 0.0 0.0 Latin America x 0.0 2.6 2.5 0.0 0.0 0.0 APAC x 0.0 0.0 0.0 - - - 1 Excludes fatalities. According to GRI, refers to work-related injuries that result in an injury from which the worker cannot, does not, or is not expected to recover fully to pre-injury health status within 6 months. 2 Excludes high-consequence injuries. 3 Includes injuries that result in restricted work or transfer to another job, minor first aid injuries, and injuries that required medical treatment beyond first aid, or loss of consciousness; or significant injury or ill health diagnosed by a physician or other licensed healthcare professional. 4 Corresponds to the sum of recordable work-related injuries without lost workdays, and work-related injuries that result in fatalities and lost workdays. Com- muting incidents are not included (there were 4 commuting accidents in 2021 related to EDPR employees, of which 3 resulted in lost workdays). Note: Frequency rate calculated as [# of accidents with absence/Hours worked * 1,000,000]. LOST WORKDAYS DUE TO WORK-RELATED INJURIES UN 2021 2020 EMPLOYEES CONTRACTORS TOTAL EMPLOYEES CONTRACTORS TOTAL Europe # 6 905 911 0 199 199 North America # 335 137 472 84 297 381 Latin America # 0 148 148 0 287 287 APAC # 0 0 0 - - - Total # 341 1,190 1,531 84 783 867

109 SEVERITY RATE OF WORK-RELATED INJURIES UN 2021 2020 EMPLOYEES CONTRACTORS TOTAL EMPLOYEES CONTRACTORS TOTAL Europe x 3 286 180 0 111 61 North America x 193 33 81 56 58 57 Latin America x 0 21 20 0 112 105 APAC x 0 0 0 - - - Total x 88 83 84 27 82 68 Note 1: Severity rate calculated as [# of Lost workdays/Hours worked*1,000,000]. Note 2: 2021 adjusted severity rate excluding the lost days derived from accidents in 2020. Total non-adjusted severity rate: 132. Note 3: Fatal accidents are not included in the severity rates since each fatal accident is methodologically associated with a total of 6,000 lost days, which would misrepresent the reported data. If these were included, the Total Severity Rate for EDPR would be 461 and the Total Severity Rate for contractors in Europe would be 2,180. In line with the new and more ambitious 2021-2025 Business Plan, the Company added 1,411 MW during 2021 and had 1.8 GW of capacity under construction as of Dec-21 (does not include 401 MW of installed capacity and 162 MW of under construction capacity as of Dec-21 relating to Sunseap acquisition). This growth is consistent with the increase of worked hours (+44% YoY) which, in turn, is reflected on the number of work-related injuries. During 2021, EDPR registered 38 work- related accidents that resulted in fatalities and lost workdays for employees and contractors (+58% YoY). One of these acci- dents was fatal and the investigation carried out considered that the working methods and resources used did not in them- selves represent a factor that contributed to the occurrence of the accident. The injury and the lost day rate were 2.1 work accidents per million hours worked and 84 3 days lost due to work accident per million hours worked, respectively. However, EDPR continuously works to improve these ratios and to bring awareness to the best H&S practices. This is rein- forced by the integrated Health & Safety and Environmental Management System, which was developed and certified ac- cording to international standards ISO 45001 and ISO 14001 for a more global and efficient approach, simplifying processes and managing the potential risks of its activity. The HSEMS, where synergies play a fundamental role, was implemented and jointly certified by an independent certifying organisation. The implementation of this integrated system allows for better management and prevention of accidents, with the objective of zero accidents overall. The commitment to health & safety is further supported through the ISO 45001 certification, which covers 100% 4 of EDPR’s installed capacity by the end of 2021. GRI 403-10 – Work-related ill-health EDPR has no knowledge of any cases of occupational diseases in the company. EDPR is working to systematise the regis- tration of this type of diseases, if detected. 3 Adjusted severity rate excluding the lost days derived from accidents in 2020 (non-adjusted severity rate: 132) 4 Calculation based on 2020YE installed capacity (EBITDA MWs). EDPR certifies the facilities the year after the COD (commercial operating date). Thus, the facilities that have entered into operation in 2021 will be certified in 2022

110 Absenteeism In the table below, the hours and rate of absenteeism in 2021 and 2020 are disclosed by country. ABSENTEEISM BY COUNTRY 2021 2020 HOURS (#) RATE (%) HOURS (#) RATE (%) EUROPE Spain 67,817 5.5% 8,566 0.8% Portugal 2,880 1.6% 3,681 2.3% France & Belgium 119 0.1% 933 0.7% Italy 1,023 1.1% 290 0.4% Poland 1,984 1.8% 1,591 1.9% Romania 1,936 2.8% 808 1.2% Greece 0 0.0% - - Hungary 0 0.0% - - NORTH AMERICA North America 28,740 1.7% 672 0.04% LATIN AMERICA Brazil 687 0.4% 247 0.2% Colombia 640 1.0% 168 0.7% Chile 0 0.0% - - APAC Vietnam 0 0.0% - - Note 1: EDPR defines absenteeism as total of non-worked hours in workable periods. including absence hours due to accidents, absence hours due to dis- eases and absence hours due to other not justified motives. Note 2: Absenteeism for North America in 2020 considers only lost worked hours caused by accidents. GRI EU17 – Days worked by contractor and subcontractor employees in- volved in construction, operation and maintenance activities Contractors involved in construction, operation and maintenance activities worked an average of 1,796,669 days during 2021, which represents an increase of 51% when compared to the previous year. GRI EU25 – Number of injuries and fatalities to the public involving com- pany assets, including legal judgments, settlements and pending legal cases of diseases EDPR has no knowledge of any legal judgments, settlements and pending legal cases of diseases in 2021, neither in 2020. Note: For the information reported in this indicator, EDPR considers passive contingencies associated with litigation qualified as probable in 2021 recorded in the contingencies reporting system.

111 People Management For information regarding GRI 103 – Management Approach for this material topic, please refer to section Human Capital of the chapter Execution. Moreover, please find other people management related topics at the end of this section. GRI 102-8 – Information on employees and other workers In the table below, the number of full-time / part-time employees in 2021 is disclosed by age group, gender and professional category. FULL-TIME / PART-TIME EMPLOYEES UN UNDER 30 YEARS OLD BETWEEN 30 AND 50 YEARS OLD OVER 50 YEARS OLD TOTAL FEMALE MALE FEMALE MALE FEMALE MALE FULL-TIME Senior Managers # 0 3 61 155 9 55 283 Managers # 5 10 47 127 5 13 207 Specialists # 155 194 281 626 35 77 1,368 Technicians # 13 84 35 98 16 10 256 Total # 173 291 424 1,006 65 155 2,114 PART-TIME Senior Managers # 0 0 2 0 1 0 3 Managers # 0 0 1 0 0 0 1 Specialists # 0 0 23 2 3 0 28 Technicians # 0 0 4 0 0 0 4 Total # 0 0 30 2 4 0 36 GRAND TOTAL # 173 291 454 1,008 69 155 2,150 Note: The number of part-time employees includes employees with reduced working day due to maternity/paternity, which represent 89% of the part-time employees. In the table below, the number of full-time / part-time employees in 2020 is disclosed by age group, gender and professional category. FULL-TIME / PART-TIME EMPLOYEES UN UNDER 30 YEARS OLD BETWEEN 30 AND 50 YEARS OLD OVER 50 YEARS OLD TOTAL FEMALE MALE FEMALE MALE FEMALE MALE FULL-TIME Senior Managers # 0 2 45 123 7 54 231 Managers # 3 5 37 105 5 14 169 Specialists # 115 166 199 486 29 72 1067 Technicians # 6 78 34 90 17 10 235 Total # 124 251 315 804 58 150 1,702 PART-TIME Senior Managers # 0 0 1 0 2 0 3 Managers # 0 0 2 0 0 0 2 Specialists # 0 0 21 1 3 0 25 Technicians # 0 0 3 0 0 0 3 Total # 0 0 27 1 5 0 33 GRAND TOTAL # 124 251 342 805 63 150 1,735 4.5.

112 EDPR fosters quality employment with 99.6% of permanent contracts throughout the year (based on the proportion of permanent and temporary contracts at the end of each month). Temporary employees represent less than 1% of EDPR’s team along the year, and therefore the Company does not report the average contracts. In the table below, the number of permanent / temporary employees in 2021 is disclosed by age group, gender and profes- sional category. PERMANENT / TEMPORARY EMPLOYEES UN UNDER 30 YEARS OLD BETWEEN 30 AND 50 YEARS OLD OVER 50 YEARS OLD TOTAL FEMALE MALE FEMALE MALE FEMALE MALE PERMANENT Senior Managers # 0 3 63 155 10 55 286 Managers # 5 10 48 127 5 13 208 Specialists # 154 193 304 624 38 76 1,389 Technicians # 13 84 39 98 16 10 260 Total # 172 290 454 1,004 69 154 2,143 TEMPORARY Senior Managers # 0 0 0 0 0 0 0 Managers # 0 0 0 0 0 0 0 Specialists # 1 1 0 4 0 1 7 Technicians # 0 0 0 0 0 0 0 Total # 1 1 0 4 0 1 7 GRAND TOTAL # 173 291 454 1,008 69 155 2,150 Note 1: EDPR keeps a constant number of employees throughout the year, which makes the difference between the final number of employees and the aver- age not significant (9%). Note 2: All temporary employees are located in Europe. In the table below, the number of permanent / temporary employees in 2020 is disclosed by age group, gender and professional category. PERMANENT / TEMPORARY EMPLOYEES UN UNDER 30 YEARS OLD BETWEEN 30 AND 50 YEARS OLD OVER 50 YEARS OLD TOTAL FEMALE MALE FEMALE MALE FEMALE MALE PERMANENT Senior Managers # 0 2 46 123 9 54 234 Managers # 3 5 39 105 5 14 171 Specialists # 113 164 220 484 32 71 1,084 Technicians # 6 77 36 90 17 10 236 Total # 122 248 341 802 63 149 1,725 TEMPORARY Senior Managers # 0 0 0 0 0 0 0 Managers # 0 0 0 0 0 0 0 Specialists # 2 2 0 3 0 1 8 Technicians # 0 1 1 0 0 0 2 Total # 2 3 1 3 0 1 10 GRAND TOTAL # 124 251 342 805 63 150 1,735 Note 1: EDPR keeps a constant number of employees throughout the year, which makes the difference between the final number of employees and the aver- age not significant (6%). Note 2: All temporary employees are located in Europe. The average number of contractors’ workers during 2021 was 1,602 in Europe, 2,065 in North America, 3,357 in Latin Amer- ica and 50 in APAC.

113 In the table below, the number of employees in 2021 is disclosed by age group, gender, region and professional category. EMPLOYEES BY REGION UN UNDER 30 YEARS OLD BETWEEN 30 AND 50 YEARS OLD OVER 50 YEARS OLD TOTAL FEMALE MALE FEMALE MALE FEMALE MALE SPAIN Senior Managers # 0 1 32 49 5 24 111 Managers # 2 4 20 42 2 4 74 Specialists # 50 70 119 210 14 25 488 Technicians # 2 1 5 1 2 0 11 Total # 54 76 176 302 23 53 684 PORTUGAL Senior Managers # 0 0 2 10 0 7 19 Managers # 0 0 0 5 0 2 7 Specialists # 6 9 12 59 1 9 96 Technicians # 0 0 1 0 1 0 2 Total # 6 9 15 74 2 18 124 REST OF EUROPE Senior Managers # 0 0 5 20 0 4 29 Managers # 1 0 6 17 2 1 27 Specialists # 29 28 61 107 1 9 235 Technicians # 1 0 2 0 0 0 3 Total # 31 28 74 144 3 14 294 USA Senior Managers # 0 2 24 65 5 18 114 Managers # 2 6 17 50 0 6 81 Specialists # 54 71 85 189 21 31 451 Technicians # 10 83 28 97 13 10 241 Total # 66 162 154 401 39 65 887 REST OF NORTH AMERICA Senior Managers # 0 0 0 3 0 0 3 Managers # 0 0 0 4 0 0 4 Specialists # 1 4 0 7 0 0 12 Technicians # 0 0 3 0 0 0 3 Total # 1 4 3 14 0 0 22 LATIN AMERICA Senior Managers # 0 0 0 8 0 2 10 Managers # 0 0 5 9 1 0 15 Specialists # 15 11 24 48 1 3 102 Technicians # 0 0 0 0 0 0 0 Total # 15 11 29 65 2 5 127 APAC Senior Managers # 0 0 0 0 0 0 0 Managers # 0 0 0 0 0 0 0 Specialists # 0 1 3 8 0 0 12 Technicians # 0 0 0 0 0 0 0 Total # 0 1 3 8 0 0 12 GRAND TOTAL # 173 291 454 1,008 69 155 2,150

114 In the table below, the number of employees in 2020 is disclosed by age group, gender, region and professional category. EMPLOYEES BY REGION UN UNDER 30 YEARS OLD BETWEEN 30 AND 50 YEARS OLD OVER 50 YEARS OLD TOTAL FEMALE MALE FEMALE MALE FEMALE MALE SPAIN Senior Managers # 0 0 23 37 4 23 87 Managers # 2 2 15 36 0 4 59 Specialists # 40 59 87 155 14 23 378 Technicians # 2 0 7 1 2 1 13 Total # 44 61 132 229 20 51 537 PORTUGAL Senior Managers # 0 0 1 5 0 6 12 Managers # 0 0 0 5 0 2 7 Specialists # 4 4 10 46 1 12 77 Technicians # 0 0 1 0 0 0 1 Total # 4 4 12 56 1 20 97 REST OF EUROPE Senior Managers # 0 1 4 21 0 4 30 Managers # 0 0 5 11 2 1 19 Specialists # 20 23 41 86 0 9 179 Technicians # 1 1 2 0 0 0 4 Total # 21 25 52 118 2 14 232 USA Senior Managers # 0 1 17 51 5 21 95 Managers # 1 3 16 44 2 7 73 Specialists # 43 67 64 156 16 26 372 Technicians # 3 77 25 89 15 9 218 Total # 47 148 122 340 38 63 758 REST OF NORTH AMERICA Senior Managers # 0 0 0 2 0 0 2 Managers # 0 0 0 2 0 0 2 Specialists # 0 1 0 7 0 0 8 Technicians # 0 0 2 0 0 0 2 Total # 0 1 2 11 0 0 14 LATIN AMERICA Senior Managers # 0 0 1 7 0 0 8 Managers # 0 0 3 7 1 0 11 Specialists # 8 12 18 37 1 2 78 Technicians # 0 0 0 0 0 0 0 Total # 8 12 22 51 2 2 97 GRAND TOTAL # 124 251 342 805 63 150 1,735

115 GRI 102-41 – Collective bargaining agreements According to its Code of Ethics, EDPR undertakes to respect freedom of trade union association and recognise the right to collective bargaining. At EDPR, from 2,150 employees, 15% were covered by collective bargaining agreements in 2021. Collective bargaining agreements include different topics such as career development, mobility, salaries, health & safety etc. and apply to all em- ployees working under an employment relationship with some companies of EDPR group, regardless of the type of contract, the professional group into which they are classified, their occupation or job. However, matters relating to the corporate organisation itself, the laws of each country or even usage and custom in each country result in certain groups being ex- pressly excluded from the scope of collective bargaining agreements. The collective bargaining agreements that are applied at EDPR are usually negotiated at state level or regional level, and EDPR may be just one of the players among other leading sectorial companies in the negotiation with employees’ represent- atives, and in some cases, governmental representatives. In Portugal and Brazil, EDP negotiates its own agreements with employees, and those apply to any employee working for companies of the Group, including EDPR. During the last years, EDPR has performed different benchmark analysis of the benefits stated at the different collective bargaining agreements that apply to its employees, comparing them against the benefits offered by the Company and, in general terms, the Company offers a more competitive benefits package compared to what is stated in the collective bar- gaining agreement. EMPLOYEES COVERED BY COLLECTIVE BARGAINING AGREEMENTS UN 2021 2020 UN 2021 2020 EUROPE Spain # 36 49 % 5% 9% Portugal # 89 93 % 72% 96% Rest of Europe # 118 124 % 40% 53% Total # 243 266 % 22% 31% NORTH AMERICA US # 5 0 % 1% 0% Rest of North America # 0 0 % 0% 0% Total # 5 0 % 1% 0% LATIN AMERICA Brazil # 76 82 % 83% 99% Rest of Latin America # 1 0 % 3% 0% Total # 77 82 % 61% 85% APAC Total # 0 - % 0% - GRAND TOTAL # 325 348 % 15% 20%

116 GRI 401-1 – New employee hires and employee turnover Throughout the year, EDPR hired 652 employees. NEW HIRES UN UNDER 30 YEARS OLD BETWEEN 30 AND 50 YEARS OLD OVER 50 YEARS OLD TOTAL FEMALE MALE FEMALE MALE FEMALE MALE Europe # 43 61 61 101 2 6 274 North America # 44 80 53 125 7 12 321 Latin America # 9 4 8 21 0 3 45 APAC # 0 1 3 8 0 0 12 Total # 96 146 125 255 9 21 652 Note: Excludes 35 employees from the acquisitions of two companies. In 2020, EDPR hired 441 employees. NEW HIRES UN UNDER 30 YEARS OLD BETWEEN 30 AND 50 YEARS OLD OVER 50 YEARS OLD TOTAL FEMALE MALE FEMALE MALE FEMALE MALE Europe # 32 47 31 74 0 7 191 North America # 19 75 29 73 2 15 213 Latin America # 4 3 7 20 2 1 37 Total # 55 125 67 167 4 23 441 During 2021, 277 employees left the Company, resulting in a turnover ratio of 13%. TURNOVER UN UNDER 30 YEARS OLD BETWEEN 30 AND 50 YEARS OLD OVER 50 YEARS OLD TOTAL FEMALE MALE FEMALE MALE FEMALE MALE Europe % 7% 11% 5% 7% 4% 15% 7% North America % 21% 22% 18% 22% 10% 17% 20% Latin America % 0% 18% 10% 12% 0% 40% 12% Total % 12% 17% 10% 13% 7% 17% 13% Note: Turnover calculated as departures / 2021YE headcount. In 2020, 149 employees left the Company, resulting in a turnover ratio of 9%. TURNOVER UN UNDER 30 YEARS OLD BETWEEN 30 AND 50 YEARS OLD OVER 50 YEARS OLD TOTAL FEMALE MALE FEMALE MALE FEMALE MALE Europe % 7% 8% 7% 4% 4% 0% 5% North America % 13% 17% 9% 14% 5% 11% 13% Latin America % 0% 8% 9% 4% 0% 0% 5% Total % 9% 14% 8% 8% 5% 5% 9% Note 1: 2020 departures exclude transfers to OW, the offshore JV with ENGIE. Note 2: Turnover calculated as departures / 2020YE headcount.

117 Of the 277 departures registered in 2021, 7% were dismissals. DISMISSALS UN UNDER 30 YEARS OLD BETWEEN 30 AND 50 YEARS OLD OVER 50 YEARS OLD TOTAL FEMALE MALE FEMALE MALE FEMALE MALE Senior Managers # 0 0 0 1 0 2 3 Managers # 0 0 1 1 0 0 2 Specialists # 1 1 3 3 0 1 9 Technicians # 0 1 0 3 1 0 5 Total # 1 2 4 8 1 3 19 Of the 149 departures registered in 2020, 15% were dismissals. Note: 2020 departures exclude transfers to OW, the offshore JV with ENGIE. GRI 401-2 – Benefits provided to full-time employees that are not pro- vided to temporary or part-time employees As a responsible employer, a quality employment that can be balanced with personal life is a priority for EDPR. In this sense, the package of benefits provided to full-time employees does not differ from that offered to part-time employees. This ben- efits package, depending on the country, includes medical insurance, life insurance, pension plan and conciliation measures. GRI 402-1– Minimum notice periods regarding operational changes Per country case law, EDPR may have a minimum period which it must comply with for giving formal notice of organisational changes at the companies in the Group with an impact on employees. However, it is customary to communicate significant events to the affected groups in advance. As an employer in the United States, EDPR complies with the Worker Adjustment and Retraining Notification (WARN) Act Guide to Advance Notice of Closings and Layoffs. GRI 404-1 – Average & total hours of training per year per employee In 2021, EDPR invested €1.8 million in training. The number of training hours increased +34% vs 2020, +42% for women employees and +32% for male employees. AVERAGE TRAINING HOURS UN 2021 2020 FEMALE MALE TOTAL FEMALE MALE TOTAL Senior Managers # 27 27 27 27 19 21 Managers # 48 38 41 24 35 32 Specialists # 26 33 30 25 29 27 Technicians # 26 64 54 15 67 53 Total # 28 37 34 24 33 30 Note: Average training hours are calculated as total training hours / YE average headcount. DISMISSALS UN UNDER 30 YEARS OLD BETWEEN 30 AND 50 YEARS OLD OVER 50 YEARS OLD TOTAL FEMALE MALE FEMALE MALE FEMALE MALE Senior Managers # 0 1 0 2 0 0 3 Managers # 0 0 0 1 0 0 1 Specialists # 0 1 5 4 0 1 11 Technicians # 1 2 1 3 0 0 7 Total # 1 4 6 10 0 1 22

118 TOTAL TRAINING HOURS UN 2021 2020 FEMALE MALE TOTAL FEMALE MALE TOTAL EUROPE Senior Managers # 1,590 4,032 5,623 1,290 2,603 3,893 Managers # 1,798 3,648 5,446 6,127 13,775 3,027 Specialists # 8,612 19,017 27,630 520 2,508 19,903 Technicians # 645 56 701 272 27 299 Total # 12,646 26,753 39,400 8,209 18,913 27,122 NORTH AMERICA Senior Managers # 151 872 1,022 174 515 689 Managers # 186 1,336 1,523 1,645 4,091 5,736 Specialists # 1,079 3,844 4,923 375 1,237 1,612 Technicians # 1,058 11,982 13,041 612 10,633 11,245 Total # 2,474 18,034 20,508 2,806 16,476 19,282 LATIN AMERICA Senior Managers # 5 567 572 23 176 200 Managers # 368 320 688 871 1,647 2,517 Specialists # 1,585 3,719 5,304 94 291 385 Technicians # - - - - - - Total # 1,957 4,607 6,564 988 2,115 3,102 APAC Senior Managers # - - - - - - Managers # - - - - - - Specialists # 11 89 99 - - - Technicians # - - - - - - Total # 11 89 99 GRAND TOTAL # 17,088 49,483 66,571 12,003 37,503 49,505 GRI 404-2 – Programs for upgrading employee skills and transition assis- tance programs People are EDPR’s most important asset. In this sense, EDPR is committed to the development of its employees, offering them an attractive professional career and aligning their capabilities and skills with the current and future needs of the company. The growth and development of the Company's business leads EDPR to invest in the employees by discovering, improving and emphasising the potential of each mainly through internal mobility, training and development actions. Mobility EDPR considers both functional and geographical mobility as a tool that contributes to the organisational development by stimulating employees’ motivation, skills, productivity, personal fulfilment and fostering the share of best practices. The mo- bility processes within EDPR aim to respond to the different challenges and needs of the Company, considering the charac- teristics of the different geographies. In 2021 there were 74 mobility processes, 53 of which functional, 11 geographical and 10 both functional and geographical. Training EDPR offers job-specific ongoing training opportunities to contribute to the learning, the improvement of knowledge and skills, as well as specific development programs aligned with the Company's strategy. The 360 potential appraisal process is created for all employees with the goal of defining each person’s training needs along with their manager, which is then used to define a customised Training Plan. The annual Training Plan is based on a catalogue of programs that is constantly evolving and is aligned with the Company’s challenges and new markets. The key aspect about the courses offered is that

119 they usually contain subjects to promote the development of skills needed to ensure the sustainability of EDPR’s business. Moreover, the networking and the share of best practices foster innovation and improve performance. During 2021, EDPR delivered a total of 66,571 training hours throughout 4,588 sessions that included 57,900 participants. This translates into an average of 33.8 hours of training per employee and results in 97,9% of EDPR’s team receiving training. Having already fully adapted the training activities due to the COVID-19 pandemic, EDPR has consolidated both the redesign and modification of training contents and sessions to virtual, e-learning or remote formats. This effort allowed to maintain and even increase the training provided when comparing with previous years, increasing the training courses delivered in e- learning, live webinars or other non-synchronous including game-based training (a total of 84% of training hours or 97% of the attendances were delivered in online methodology). Therefore, EDPR highlights Digitalisation as one of the main training drivers that helped to accelerate and consolidate during 2021 as a result of the methodologies and by contents increasingly delivered on topics such as Collaborative Tools (Microsoft 365 suite), Agile methodologies, Data Analyse tools, Digital Trans- formation, Cybersecurity, SMART business, IoT, Cloud or Artificial Intelligence. Knowledge management EDPR is aware of the importance of Knowledge as a valuable asset within the business and in employees’ development. Thus, EDPR is boosting LINK as a knowledge platform, increasing the number of areas, domains and curated documents with valuable content captured and shared across the organisation(encouraging the access to a new recommended docu- ment each week), to help its employees learn from the past to face future challenges and move the Company forward. During 2021, EDPR organised a total of 13 sessions of 40fiveminutes, an online initiative to easily share main business insights in a friendly and informal way to those employees who sign up to the sessions. Becoming a Learning Organisation implies a strong knowledge sharing mindset, so EDPR strives to improve the use of knowledge by regularly distributing customised relevant documents or events, working to adapt to new ways of learning and to all the generations present in the Company, and by establishing a hybrid work model. Development In order to support the Company's growth and to align the current and future needs of the organisation with the skills of employees, as well as boost their professional growth, EDPR has designed different development programs that allow em- ployees acquire the right tools to take on new responsibilities and adapt to new challenges: • The Lead Now Program aims to support middle managers in their role as team leaders. As a result, participants have the possibility to self-assess their management style, improve the skills they need, and get to know the role they play in the different HR processes at EDPR, as well as the IT and H&S systems that can help them develop their role. Through online sessions, three editions were delivered to 38 employees in 2021 in Europe and LatAm, and other three in North America in which 43 employees participated. In addition, during the summer and in order to complement the Lead Now program, six remote leadership Webinars were held for managers, with the goal of helping them adapt to a new reality in which their teams work remotely, which can be challenging. • The Executive Development Program is an advanced training with a similar philosophy of an MBA in which the main objective is to develop the vision, skills and management capabilities required to meet the many and diverse challenges that EDPR professionals have to face. In 2021, the Company had 30 employees selected for this program, which started in May and ends in January of 2022. It is focused on different topics, such as Economic Outlook, Strategic Vision, Oper- ational Excellence, Financial Management, Communication and Leadership, among others. • The Management and Leadership Essentials Program (MLE) aims to develop the group of Power Plant Managers in Europe and Brazil, by upskilling a traditionally technical profile at EDPR with the development of management and leadership skills. The program, which was recognised and awarded with the Cegos and E&T 2021 Award for Best Practices in the Development and Learning Category, had 107 participants in 7 different countries throughout its course, in collaboration with an external partner that provided 7 local consultants who conducted the online program in the local language. Each participant was able to complete a total of 50 hours distributed in two modules that took place in 2020 and 2021, in addition to individual e-coaching sessions as part of the program.

120 GRI 404-3 – Percentage of employees receiving regular performance and career development reviews EDPR defines two assessment processes for its employees. The annual performance assessment, which covers all employ- ees entitled to variable remuneration, and the potential assessment. All EDPR employees, regardless of their professional category, are evaluated every two years to determine their development potential by providing the most suitable training. EDPR creates tailored development plan to address specific needs. Moreover, EDPR offers the possibility to all employees to define an Individual Development Plan. This plan is a very effective tool that enable the Company to structure training actions for the employee aimed at widening their abilities and expertise since it requires a reflection upon the results of their skills assessment and identify the individual's strong points and im- provement areas, taking into consideration the employee's development level, as well as the teamwork and organisational strategy. The potential assessment process is independent from performance appraisal and is based on a 360 degree evaluation model which considers feedback from oneself, peers, subordinates and the manager. GRI 405-1 – Diversity of governance bodies and employees In the table below, the proportion of members of the Board of Directors in 2021 is disclosed by age group and gender. BOARD OF DIRECTORS UN UNDER 30 YEARS OLD BETWEEN 30 AND 50 YEARS OLD OVER 50 YEARS OLD TOTAL Female % 0% 17% 17% 33% Male % 0% 17% 50% 67% Total % 0% 33% 67% 100% In the table below, the proportion of members of the Board of Directors in 2020 is disclosed by age group and gender. BOARD OF DIRECTORS UN UNDER 30 YEARS OLD BETWEEN 30 AND 50 YEARS OLD OVER 50 YEARS OLD TOTAL Female % 0% 7% 7% 14% Male % 0% 29% 57% 86% Total % 0% 36% 64% 100% Following the best Corporate Governance practices, EDPR has analysed and discussed about the possible criteria applicable in the selection of the new members of its Governing Bodies. As a conclusion, the Appointments, Remunerations and Corpo- rate Governance Committee and the Board of Directors resolved at their meetings held on November 2 nd , 2016, and Decem- ber 14 th , 2016 respectively, to take into account the following criteria for the selection of new members of the Governing Bodies: the education, experience in the energy sector, integrity and independence, and the diversity that such candidate may provide to the related body. Likewise, on the Shareholder’s Meeting held on March 26 th , 2020, the Board of Directors made public its particular interest in supporting the gender diversity in accordance with the Lei nº 62/2017 of August 1 st , and specifically committed at the seventh resolution of the agenda, to promote that at the first Elective Shareholders’ Meeting to be held after termination of the current term of office of the Board Members, the percentage of Board Members corresponding to the less represented gender is increased to a 33.3%. Based on the above criteria, after the previous advice of the Appointments, Remunerations and Corporate Governance Com- mittee, in 2021 the Board of Directors submitted the related proposals to the General Shareholders’ Meeting (including, for sake of clarity, the curriculum vitae of the candidates, which were be publicly disclosed with the other supporting documents of the meeting).

121 In the table below, the proportion of employees in 2021 is disclosed by age group, gender and professional category. EMPLOYEES UN UNDER 30 YEARS OLD BETWEEN 30 AND 50 YEARS OLD OVER 50 YEARS OLD TOTAL FEMALE MALE FEMALE MALE FEMALE MALE Senior Managers % 0% 0% 3% 7% 0% 3% 13% Managers % 0% 0% 2% 6% 0% 1% 10% Specialists % 7% 9% 14% 29% 2% 4% 65% Technicians % 1% 4% 2% 5% 1% 0% 12% Total % 8% 14% 21% 47% 3% 7% 100% In the table below, the proportion of employees in 2020 is disclosed by age group, gender and professional category. EMPLOYEES UN UNDER 30 YEARS OLD BETWEEN 30 AND 50 YEARS OLD OVER 50 YEARS OLD TOTAL FEMALE MALE FEMALE MALE FEMALE MALE Senior Managers % 0% 0% 3% 7% 1% 3% 13% Managers % 0% 0% 2% 6% 0% 1% 10% Specialists % 7% 10% 13% 28% 2% 4% 63% Technicians % 0% 4% 2% 5% 1% 1% 14% Total % 7% 14% 20% 46% 4% 9% 100% GRI 405-2 – Ratio of basic salary and remuneration of women to men Note 1: The tables below refer to average remuneration. 2021 values do not include expats, 2021 mobilities, new hires from December, employees from OW (the offshore JV with ENGIE) and employees from Viesgo (a company acquired at the end of 2020), totalling 5% of the employees. 2020 values do not include expats, 2020 mobilities, long term absences, new hires from December and Executive Committee members, totalling 2% employees. Note 2: The calculations are based on the December headcount. The base salaries of the new hires are annualised but the rest of the monetary and non- monetary benefits are not annualised, which may cause deviations. Note 3: The wage gap is calculated based on GRI methodology (female/male remuneration). The calculation considers the employees’ working hours. In the table below, the average remuneration of employees in 2021 and 2020 is disclosed by age group, gender and profes- sional category. REMUNERATION UN 2021 2020 % YoY FEMALE MALE FEMALE MALE FEMALE MALE UNDER 30 YEARS OLD Senior Managers € - 109,926 - 108,598 - +1% Managers € 75,489 89,345 76,782 85,282 (2%) +5% Specialists € 50,686 55,554 51,842 56,754 (2%) (2%) Technicians € 46,859 62,280 39,956 64,702 +17% (4%) BETWEEN 30 AND 50 YEARS OLD Senior Managers € 189,009 206,568 169,553 182,250 +11% +13% Managers € 83,856 94,436 91,152 92,833 (8%) +2% Specialists € 62,798 71,329 65,743 73,118 (4%) (2%) Technicians € 56,420 73,698 56,744 72,482 (1%) +2% OVER 50 YEARS OLD Senior Managers € 192,051 206,038 172,520 191,570 +11% +8% Managers € 64,508 107,968 103,016 109,042 (37%) 1 (1%) Specialists € 86,066 92,987 87,004 96,545 (1%) (4%) Technicians € 66,921 80,351 71,538 77,410 (6%) +4% 1 Impacted by decrease of female managers in North America in 2021 vs 2020.

122 In the table below, the average total remuneration of employees in 2021 and 2020 is disclosed by region, gender and pro- fessional category. The total remuneration also includes remuneration supplements not consolidated during the year, varia- ble remuneration and other monetary benefits. WAGE GAP - TOTAL REMUNERATION UN 2021 2020 FEMALE MALE F/M FEMALE MALE F/M EUROPE Senior Managers € 119,874 134,156 89% 120,462 133,936 90% Managers € 67,246 76,154 88% 68,215 72,104 95% Specialists € 48,903 53,033 92% 48,720 52,813 92% Technicians € 34,513 25,561 135% 32,439 39,667 82% NORTH AMERICA Senior Managers € 302,801 311,568 97% 245,121 256,996 95% Managers € 116,502 124,660 93% 129,728 126,619 102% Specialists € 91,890 104,149 88% 96,219 110,500 87% Technicians € 62,909 69,619 90% 67,116 69,712 96% LATIN AMERICA Senior Managers € - 98,368 - 131,173 100,229 131% Managers € 48,740 49,108 99% 45,894 46,112 100% Specialists € 30,274 38,107 79% 31,403 34,846 90% Technicians € - - - - - - APAC Senior Managers € - - - - - - Managers € - - - - - - Specialists € 47,477 46,476 102% - - - Technicians € - - - - - - Please see below some notes that help explain the YoY variations of the table above and of the table below: Europe: • Managers: The average total remuneration for female employees in 2021 decreases compared to 2020 because the segment includes newly promoted employees (when a promotion takes place, the base salaries are positioned at the beginning of the salary band). • Technicians: The average total remuneration for male employees in 2021 decreases vs 2020 because the segment now excludes an employee that retired, and includes a new hire. North America: • Managers: The decrease of the average total remuneration for female employees in 2021 compared to 2020 is mainly because the segment includes newly promoted employees and new hires (when a promotion takes place, the base salaries are positioned at the beginning of the salary band). • Specialists: The average total remuneration for female employees in 2021 vs 2020 decreases mainly because the fe- male employee with the higher salary in 2020 within this segment left the company in 2021. Latin America: • Senior Managers: There are no female employees in this segment in 2021. • Specialists: The average total remuneration for female employees in 2021 decreases compared to 2020 because the segment includes several new hires.

123 In the table below, the average base salary of employees in 2021 and 2020 is disclosed by region, gender and professional category. WAGE GAP - BASE SALARY UN 2021 2020 FEMALE MALE F/M FEMALE MALE F/M EUROPE Senior Managers € 83,680 94,080 89% 83,698 94,836 88% Managers € 50,192 57,073 88% 51,530 55,581 93% Specialists € 40,849 43,435 94% 40,383 43,206 93% Technicians € 28,063 23,048 122% 27,087 31,956 85% NORTH AMERICA Senior Managers € 163,388 166,643 98% 168,591 173,662 97% Managers € 85,834 86,500 99% 91,993 88,426 104% Specialists € 76,237 79,861 95% 76,523 81,263 94% Technicians € 46,751 46,292 101% 48,806 46,549 105% LATIN AMERICA Senior Managers € - 75,876 - 110,160 71,179 155% Managers € 39,241 36,605 107% 36,577 34,830 105% Specialists € 24,037 29,508 81% 23,492 25,638 92% Technicians € - - - - - - APAC Senior Managers € - - - - - - Managers € - - - - - - Specialists € 46,712 44,846 104% - - - Technicians € - - - - - - GRI 102-38 – Annual total compensation ratio The ratio presented below represents of the annual total compensation for the organisation’s highest-paid individual in each country of significant operations to the median annual total compensation for all employees. ANNUAL TOTAL COMPENSATION RATIO UN 2021 2020 % YoY Spain x 5.4 5.6 (3%) Portugal x 4.7 4.2 +12% US x 11.2 6.1 +84% Note 1: Miguel Stilwell d’Andrade and Rui Teixeira did not receive any remuneration from EDPR. EDPR and EDP signed an executive management services agreement according to which EDPR paid to EDP a fee for the services rendered by these officers. Note 2: X as unit means times. Note 3: 2021 values do not include expats, 2021 mobilities, new hires from December, employees from OW (the offshore JV with ENGIE) and employees from Viesgo (a company acquired at the end of 2020), totalling 113 employees. 2020 values do not include expats, 2020 mobilities, long term absences, new hires from December and Executive Committee members, totalling 34 employees. Note 4: The calculations are based on the December headcount. The base salaries of the new hires are annualised but the rest of the monetary and non- monetary benefits are not annualised, which may cause deviations. Please note that the variation in the US ratio is mainly due to the inclusion of the LTIP payment.

124 GRI EU15 – Percentage of employees eligible to retire in the next 5 and 10 years broken down by job category and by region EMPLOYEES ELIGIBLE TO RETIRE UN 2021 2020 IN 10 YEARS IN 5 YEARS IN 10 YEARS IN 5 YEARS BY EMPLOYMENT CATEGORY Senior Managers % 10% 6% 10% 6% Managers % 2% 0% 2% 1% Specialists % 4% 2% 5% 3% Technicians % 5% 4% 6% 5% BY REGION Europe Spain % 4% 2% 4% 2% Portugal % 15% 11% 20% 15% Rest of Europe % 2% 1% 2% 1% Total % 5% 3% 5% 3% North America US % 6% 4% 6% 3% Rest of North America % 0% 0% 0% 0% Total % 6% 4% 6% 3% Latin America Brazil % 0% 0% 0% 0% Rest of Latin America % 0% 0% 0% 0% Total % 0% 0% 0% 0% APAC Total % 0% 0% - - GRAND TOTAL % 5% 4% 5% 4% Note: The employees eligible to retire in the next 5 years is with 60 years reference and in the next 10 years with 57 years reference. Other people management related topics: Communication with employees EDPR’s global presence with employees from different regions, nationalities and generations requires the Company to listen and provide feedback on different ambitions and expectations. This is why EDPR launches a Climate Survey every two years, allowing the Company to better understand and act in accordance with employees’ opinions. It also works to keep its em- ployees well informed and therefore continues to improve the internal communications channels, which also helps keep them motivated and committed to the Company’s strategy. EDPR and EDP Group have invested strategically in this area with innovative communication channels that have consistently been recognized internationally for their mix of dynamism and creativity. Below are the EDPR internal communication channels that keep employees informed and connected every day: • Intranet: the platform takes online interaction among employees to a new level by including social media-style features and advanced customization options. It is a place to share information, work together, and learn about projects and news from EDPR and EDP. • Workplace: the social network aims to strengthen internal communication by customizing content according to the audience, bringing it closer to the company hierarchy, fostering top-down and bidirectional communication and im- proving teamwork.

125 • EDP On Renew magazine: the print magazine has been a mainstay of EDP Group’s internal communications since 1988. The On Renew edition, specific to EDPR, shows the Company and its people through stories, interviews and reports. • EDP On TV: the TV channel broadcasts in EDPR and EDP offices and online. It includes dynamic news reports and interviews on news and events. It is the medium that truly puts a face on projects, employees and initiatives. • EDP On App: a mobile app to access the company’s intranet, where corporate news can be consulted and the tools and services available to employees can be used. • Global newsletter: a monthly newsletter gives a broader reach to news and information regarding the Company’s pro- jects, teams, successes, and strategies. • HR App: EDPR has an app in place to offer employees news and access to recruitment processes or measures, all in a practical, simple way. This tool is particularly useful to keep traveling and geographically dispersed employees con- nected. Apart from these communication channels, EDPR holds Company-wide Annual Meetings 5 that allow employees to stream- line their long-distance communication, improve their day-to-day work, share their concerns, and get to know the business goals set by EDPR’s senior management. The Company also holds meetings and team-building events; conference calls regarding results, internal campaigns through the various internal channels, and a robust website that informs both internal and external stakeholders. All of these communication efforts look to motivate employees, promote knowledge-sharing and bring people together. Employees with disabilities In the companies in Spain where there is a legal obligation to have people with disabilities in the workforce to comply with the LISMI due to the number of employees, EDPR has opted for the exceptionality measures provided by the Law. The Com- pany is able to comply with the quota that legally applies to it through contracts of goods or services with companies that promote the hiring of disabled people and also through donations. EDPR’s companies under this obligation are covered with the exceptionality measures since February 2018 and for a period of three years. For the rest of EDPR countries, the approach is the same. Recently, as part of EDPR's global strategy, a Diversity and Equality Committee has been set up with the par- ticipation of the Management Team, whose objective is to integrate the commitment to this issue within the company. One of the objectives of this Committee is focused on the group of people with disabilities as one of the most important topics to be developed. Please note that by the end of the 2021, 1.3% of the Company’s employees had disabilities. Work organisation and implementation of “right to disconnect” policies For EDPR, it is a priority to foster time efficiency of employees’ daily tasks to balance their professional and personal life, while still delivering excellent results. In this context, the Company has been implementing several initiatives that contribute to achieve this, and even though currently EDPR does not have policies regarding the right of people to disconnect from work during non-work hours, messages of work organisation and disconnection will continue to be conveyed. For example, in 2017 EDPR designed Work Smarter, a Code that includes a set of guidelines to work efficiently by maximising the time efficiency of each daily task, mainly regarding work organisation, email & phone and meetings. Additionally, different initia- tives took place during 2017 in order to involve employees around this different way of working. Some of the initiatives were placing inspiring sentences and clocks in the meeting rooms to remind the employees that their time is gold. Within Work Smarter, some of the initiatives were focused on the right to disconnect. In 2020, due to the COVID-19 and subsequent home office regime implemented, EPDR shared several tips in its intranet on how to better work from home, which included the separation between professional and personal life, setting a work schedule and taking breaks. Lastly, in 2021, EDPR intro- duced the Golden Rules initiative to provide guidelines for its employees on topics such as respecting routines, best practices when communicating through email and tips for organising their daily schedule. Later, together with the implementation of the new hybrid working model, the Golden Rules 2.0 was created, which is an adaptation of the previous initiative to a new reality in which there are some employees working from home and others working at the office at the same time. By following these recommendations, people can be more efficient with their time and promote each other’s wellbeing. 5 No Annual Meetings or other types of events have been held in the last year due to COVID-19

126 Work life balance Throughout 2021, both physical and mental health were once again a global priority. Accordingly, EDPR implements several initiatives focused on family, time, and health, offering its team a wide range of benefits that reinforce the Company's position as a flexible workplace with work-life balance policies; it also encourages an efficient use of time in employees' daily tasks to reconcile their professional and personal life while still achieving excellent results. As a result, EDPR's work-life balance practices have earned it the EFR Certification (Empresa Familiarmente Responsable) for ten years, awarded by the Spanish Fundación MásFamilia. In 2021, EDPR maintained the level of excellence in this certification obtained in 2020, which recog- nises the Company's efforts to reconcile professional and personal life, excellence and flexibility. To achieve this continuously, EDPR is committed to constantly improve the initiatives implemented, which will enable it to provide the most progressive and appropriate benefits to employees. During the year, EDPR launched the Flex-Movement, an initiative to simplify flexibility measures and improve the conditions necessary to make EDPR a dynamic and innovative growth-based company. In this context, the Company was able to suc- cessfully kick-off the remote work strategy approved the previous year, in which employees are able to work remotely 2 days a week, where feasible. EDPR believes that remote work is crucial to improve flexibility, work-life balance and the overall wellbeing of its team while remaining productive. In addition, the Company has a wellness platform to further develop a culture of wellness and encourage healthy habits. The aim of the programs promoted by the platform is to create a culture where employees choose to voluntarily adopt healthy habits by sharing their experiences, form support networks to facilitate the process and motivate each other. In 2021, a virtual gym was included in the platform. EDPR also shared in its intranet several tips on health, wellbeing and remote work throughout the year. To raise awareness on mental health in particular, EDPR launched the Mind Your Mind campaign in October, which promoted educational talks with specialists, employees and other key stakeholders on how to approach the topic, especially in the current social context. Furthermore, EDPR has a volunteer program addressed to its employees in order to promote social responsibility, giving them the opportunity to grow not only at work but also personally while also contributing to the society. As a result, EDPR em- ployees are given 4 hours a month to dedicate to volunteering initiatives. Equality plans EDP Renováveis S.A. has an Equality Plan for the period 2020-2022 in accordance with the Spanish Organic Law 3/2007 which has already achieved 76% compliance at a global level and has taken the appropriate steps to comply with local legislation on equality as required. Adopted measures to promote employment related to equality EDPR incorporates the principles of diversity, equity and inclusion in its values and practices, as it is aware that a diverse team brings together different perspectives and knowledge, as well as representing different sources of talent. In particular, EDPR's goal is to contribute to improving the quality of life of its employees, removing professional barriers and promoting gender equality, in order to ensure a transparent workplace environment where mutual respect and equal opportunities prevail. In accordance, EDPR has a Diversity, Equity and Inclusion Committee to promote its commitment to these funda- mental principles. The main objectives of the Committee are to reflect EDPR's strategy on diversity, equity and inclusion, including the definition and development of initiatives that contribute to a global action plan and local action plans, and to foster the exchange of knowledge and best practices. However, as a responsible company, EDPR's goal is to actively pro- mote these values in its team. In this context, EDPR celebrated the Diversity Month in May, during which an e-learning on Unconscious Bias was launched at EDP Group level, an online training course designed to address underlying attitudes that we sometimes unconsciously adopt in our day-to-day decisions. The Company believes that with the right tools and knowledge, we will be able to have a truly inclusive culture and a more sustainable future. In addition, EDPR joined the "Empowering Women's Talent" program for the development of female talent promoted by Equipos & Talento. The program helps companies to learn, share, communicate and inspire about gender diversity, with the aim of promoting female empowerment and leadership. This reflects the Company’s commitment to promote and recognise the work of women, especially those who develop careers in STEM (Science, Technology, Engineering and Mathematics), since one of its most relevant challenges is to attract, develop and retain female talent, especially in the technical area.

127 As a result of its commitment and practices, EDPR was featured for the second consecutive year in the Bloomberg Gender- Equality Index (GEI) in early 2021, a benchmark index that selects the listed companies most involved in the development of gender equality in the world. EDPR's inclusion as part of this index highlights the Company's work to promote equal oppor- tunities for women through development, representation and transparency policies. EDPR is dedicated to continuously fostering a culture founded on human equality and the strength in diversity, and will continue to lead by example. The Company upholds its commitment to Diversity, Equity & Inclusion not only through words, but through actions that truly make a positive impact on people. Sexual harassment protocol Currently, EDPR does not have a specific sexual harassment protocol. Nevertheless, as stated in its Code of Ethics, EDPR promotes a culture free from any sort of harassment, understanding this to be systematically undesired behaviour of a moral or sexual nature, in a verbal, non-verbal or physical form, which has the goal or effect of disturbing or embarrassing another person, or affecting their dignity or creating an intimidating, hostile, degrading, humiliating or destabilizing environment. Harassing forms of behaviour in a business context violate the victims’ labour rights, and may affect their value as people and workers, causing harm that can have an impact on their self-esteem, physical and mental health, life project and family relationships. Therefore, in addition to the legal obligations to which EDPR is subject to, the Code of Ethics also states that it is the duty of all employees to prevent, confront and report any and all behaviour that may preclude a situation of harass- ment. In this regard, the Code of Ethics has its own regulation that defines a process and channel, open to all stakeholders, to report any potential claim or doubt on the application of the Code. Universal accessibility Most of the offices in which EDPR has its operations are not owned by the company. Therefore, EDPR is limited in the imple- mentation of accessibility measures in its offices. However, in other topics in which EDPR has decision-making power, such as the creation of its website, the company took measures to comply with the accessibility specifications that help blind people to use it.

128 Corporate governance For information regarding GRI 103 – Management Approach for this material topic, please refer to section Organisation of the chapter The Company. For further information on the topic please see chapter 5. Corporate Governance. Average remuneration of EDPR’s BoD members and Executive Directors Board of Directors In 2021, the average salary for EDPR’s Board of Directors male members was €47,905 (-16% vs 2020) and €42,500 (-26% vs 2020) for female members. The YoY variations are mainly due to the changes in the Board’s composition that occurred in 2021. Note 1: António Mexia, João Manso Neto, Miguel Stilwell d’Andrade, Rui Teixeira, Vera Pinto, Ana Paula Marques and Miguel Setas did not receive any remu- neration from EDPR. EDPR and EDP signed an Executive Management Services Agreement according to which EDPR paid EDP a fee for the services rendered by these Board Members. Note 2: Miguel Ángel Prado received the remuneration as board member from EDPR North America LPP and is not considered in this average. Note 3: The calculations include all board members that belonged to EDPR BoD in 2021. Executive Directors At the beginning of 2021, EDPR had five (5) Executive Directors: João Manso Neto, Rui Teixeira, Duarte Bello, Miguel Ángel Prado and Spyridon Martinis. At the meeting held in January 19 th , 2021, the Board received the resignations to the positions as Directors of Duarte Bello (with effects January 19 th , 2021), Spyridon Martinis (with effects January 19 th 2021) and Miguel Ángel Prado (with effects as of the next General Shareholders’ Meeting to be held). In addition, after the public communica- tion of João Manso Neto about his non-availability to be re-elected for his positions in EDP, João Manso Neto was also ceased as Vice-Chairperson of EDPR’s Board and CEO of EDPR. In order to fulfil the referred vacant positions, and following the proposal of the Appointments, Remunerations and Corporate Governance Committee, EDPR’s Board of Directors also agreed on its meeting held on January 19 th to approve the appoint- ment by co-option of Miguel Stilwell d’Andrade as Executive Director and Chairperson of EDPR’s Board and CEO of EDPR. In this context, the average salary for EDPR’s Executive Directors in 2021, all male, was €460,000 (-13% vs 2020), which includes the fixed salary corresponding to the period of 2021 before their resignation to the positions as Directors (Duarte Bello and Spyridon Martinis up to January 19 th , 2021, and Miguel Ángel Prado up to February 22 nd , 2021), the variable salary related to the performance of previous years, retirement savings plan, company car and health insurance. Note: João Manso Neto, Miguel Stilwell d’Andrade and Rui Teixeira did not receive any remuneration from EDPR. EDPR and EDP signed an Executive Manage- ment Services Agreement according to which EDPR paid EDP a fee for the services rendered by these Executive Directors. Innovation For information regarding GRI 103 – Management Approach for this material topic, please refer to section Innovation Capital of the chapter Execution. 4.6. 4.7.

129 Community Engagement For information regarding GRI 103 – Management Approach for this material topic, please refer to section Contribute to the Society of the chapter Execution. GRI 202-2 – Proportion of senior management hired from the local com- munity The Code of Ethics contains specific clauses of non-discrimination and equal opportunities in line with the Company’s culture of diversity. This is reflected in the procedures for hiring people via a non-discriminatory selection process. A potential em- ployee’s race, gender, sexual orientation, religion, marital status, disability, political orientation or opinions of any other na- ture, ethnic or social origin, place of birth or trade union membership are not considered. In this context, there are no specific procedures explicitly requiring local recruitment. Nevertheless, a high percentage of EDPR employees are hired from the same country in which the Company operates. LOCAL RECRUITMENT UN 2021 2020 SENIOR MANAGERS Europe % 89% 84% North America % 84% 79% Latin America % 50% 50% GRI 203-1 – Infrastructure investments and services supported Wind and solar energy require infrastructure investments which benefit surrounding communities. This includes the rein- forcement of existing electricity networks and the rehabilitation of existing roads or the construction of new roads. The investment in roads is necessary in order to transport heavy equipment (wind turbine components, power transformers, etc.) to the site during construction. The improved road system facilitates future maintenance activities after construction works, as well as improves access to remote locations for the surrounding communities. During the operation of the wind farms and solar plants, these roads are maintained. The integration of the generation capacity may also require upgrades in the distribution and transmission grids that belong to the system operators. Those upgrades indirectly benefit the quality of service offered in the surrounding areas by minimising electricity supply interruptions. In 2021, EDPR invested €28 million in the development of community roads surrounding its projects. GRI 203-2 – Significant indirect economic impacts Renewable energy technologies are viewed not only as tools for mitigating climate change, but are also increasingly recog- nised as investments that can provide direct and indirect economic advantages by reducing dependence on imported fuels (and hence, improving trade balances), enhancing local air quality and safety, advancing energy access and security, pro- pelling economic development and creating jobs. In 2021, EDPR implemented several economic development projects, which foster job creation and profit generation. GRI 411-1 – Incidents of violations involving rights of indigenous peoples EDPR has no knowledge of any incident of violations involving rights of indigenous people in 2021, neither in 2020. Note: For the information reported in this indicator, EDPR considers passive contingencies associated with litigation qualified as probable in 2021 recorded in the contingencies reporting system, and claims/doubts reported in the Ethics Channel or the Compliance Channel and considered as founded. 4.8.

130 GRI 413-1 – Operations with local community engagement, impact as- sessments, and development programs EDPR’s main goal regarding their relationship with communities near its facilities is to preserve a close and long-term con- nection with them in order to guarantee a good coexistence. This concern presents itself as a valuable instrument in the entire life cycle of EDPR’s operations that goes from the development, construction and operation of wind farms and solar plants to their dismantlement. During the development phase, EDPR performs an environmental impact assessment for all the projects. This assessment includes the most significant issues for the affected areas both from an environmental and social perspective. During the entire life cycle of its operations, EDPR promotes the wellbeing and development of the communities throughout the countries where it operates. EDPR considers that in order to make a positive impact on local communities, it is vital to work for the common good by promoting and supporting social and environmental activities. In 2021, following a strategic reflection on social investment at EDP Group level, the new strategy for social investment reinforces two major topics - Fair Energy Transition, and Culture - having defined concrete objectives for the allocation of social investment to each of these themes. • The Fair Energy Transition theme, which englobes social investment activities such as Closer2You, Keep it Local, Wind Experts and Your Energy, aims to promote energy efficiency, renewable energy and decarbonization through increased awareness, supporting education on renewable energy for all. This thematic focus is greatly aligned with EDPR's busi- ness and therefore also promotes a more efficient use of the Company’s skills, thus contributing to supporting commu- nities in a more efficient manner. • The Culture theme, which englobes EDPR’s Powering Culture initiative, contributes to the protection and promotion of cultural heritage, local traditions and access to culture and art, contributing to a more vibrant and creative society. In parallel, and recognising the need to continue supporting projects that respond to other social needs of the communities where EDPR is present, the Company will maintain its investment in various topics such as health, social inclusion and re- sponse to emergency situations, among others. In line with its social investment strategy and the communities’ needs and expectations, EDPR has defined a Catalogue of Activities that works as a tool for defining the social investment made in local communities. During 2021, EDPR invested a total of €6.6 million in supporting communities, of which €4.8 million are related to A2E and €1.7 million are a result of activities such as internally developed and collaborative initiatives, donations to charitable organ- isations and volunteering activities. In addition, 17% of EDPR employees participated in volunteering initiatives, contributing with more than 900 hours of their time to the development and wellbeing of the society. GRI 413-2 – Operations with significant actual and potential negative im- pacts on local communities Noise, visual impact, TV interferences and ice thrown from wind turbines are identified as EDPR’s business environmental impacts within the category of disturbance to the local communities. EDPR implements the necessary measures to make these impacts as minor as possible. Moreover, during the operation phase, EDPR has grievance mechanisms in place avail- able to the local communities to ensure that suggestions or complaints are properly recorded and addressed. This allows EDPR not only to solve the complaints but also to introduce improvements in all processes. In 2021, EDPR registered 74 complaints regarding potential impacts on the local communities, +64% when comparing to 2020 which, in turn, was -61% vs 2019. There were 46 complaints in the US, of which 27 were related to possible interferences with the TV or radio signal, 15 related to noise, 3 related to spills and 1 related to road drainage. In addition, there were 27 claims related to possible interferences with the TV or radio signal in Europe, of which 25 from France, 1 from Belgium, and 1 from Italy, which also had 1 complaint related to noise. Please note that EDPR does not have individual consumers, according to the concept this term has associated in the Spanish regulation (Law 11/2018). Regarding the complaint systems, given the core business of the Company, EDPR does not deal directly with individual consumers. However, EDPR considers the local communities near its operations as its clients and makes different complaint channels available to them, among which is the Ethics Channel.

131 Suppliers Management GRI 204-1 – Proportion of spending on local suppliers At EDPR, there is no specific policy or in-house procedure for preferring locally based suppliers. Nevertheless, under equal commercial terms, EDPR chooses local suppliers in order to enhance the socio-economic sustainability of the 18 markets where it is present. In this way, 94% of vendor spending in 2021 was sourced from local suppliers at a country level. Moreover, during the construction of the Company’s projects, the local community can see an influx of temporary local con- struction workers and suppliers that provide a positive impact on the local economy. Note: EDPR defines spending in local suppliers at a country level as purchases to suppliers in countries where EDPR is present divided by the total invoiced volume in 2021. GRI 308-2 – Negative environmental impacts in the supply chain and ac- tions taken EDPR’s procurement process is developed within the framework of the Procurement Policy, which extends to EDPR’s both direct and indirect suppliers, and from which the most relevant aspects for EDPR regarding the supply chain’s high quality and sustainability are established. Accordingly, EDPR has in place requirements related to Sustainability, Quality and Risk management that have to be met by its suppliers throughout the main procurement phases: registration process, contracting and, lastly, the monitoring and evaluation of the suppliers. EDPR has a Corporate System of Supplier Registration in place which works as the support to search and select suppliers by providing detailed information, validated and updated by credible sources in order to guarantee their accreditation through financial, technical quality and sustainability criteria. This includes environmental topics such as the existence of an environmental management system and its certification, the existence of environmental requirements in the suppliers pro- curement conditions or the availability of procedures and resources to assure the prevention/minimisation of environmental impacts. EDPR has a Supplier Qualification Process in place since 2020. The main goal of this process is to provide a more thorough analysis on critical topics such as technical capabilities, health and safety, environment and ethics, and to establish highly standardised minimum requirements to ensure that the suppliers with whom EDPR conducts business are qualified. All pa- rameters of the Qualification system are periodically reviewed and reassessed by EDPR to guarantee that supply chain performance remains on the high quality level required. The qualified suppliers are then included in a Suppliers Qualification List and are able to participate in the EDPR bidding and contracting processes. The incorporation of adequate criteria in the bidding and contracting processes of the Company is essential to ensure the management and mitigation of operational risks in the supply chain. In Europe & Brazil, EDPR has a Suppliers Sustainability Guide in place for both construction and O&M operations, providing an overview of the sustainability requirements EDPR expects its suppliers to meet. The guide includes H&S, environmental and ethical requirements such as compliance with applicable regulations, policies, internal norms, procedures and systems in place. In addition, EDPR has implemented a pro- cess that classifies suppliers according to their H&S and environmental risks. The classification serves as an input in the selection of suppliers during the bidding phase. Based on the individual values obtained in this classification, suppliers may be excluded from the bidding process. If the supplier wants to be re-considered or participate in new processes, an action plan to solve the identified issues has to be presented and EDPR shall approve the action plan proposal. Adequate compliance by all EDPR suppliers with applicable H&S and environmental requirement is essential to guarantee the correct performance of the contracted services and works. Aiming to ensure that suppliers comply with these require- ments, the Company has established a disciplinary and sanctioning regime, which is included in all requests for proposal, contracts and purchase orders so any provider will be always informed about the consequences of not complying with EDPR H&S and environmental requirements. 4.9.

132 In order to guarantee that the suppliers comply with the previously mentioned requirements, EDPR monitors strategic sup- pliers during their services delivery. EDPR performs internal inspections during the construction and operation phases to monitor the suppliers performance re- garding environmental and H&S aspects and to identify potential risks. In 2021, EDPR performed 1,246 inspections to 186 suppliers regarding their environmental performance. As a result of these inspections, the Company identifies corrective actions needed and establishes an action plan for continuous improvement. Furthermore, EDPR hires an external party for additional supervision in these areas. These processes are reinforced by the integrated Health and Safety and Environmental Management System, which was developed and externally certified according to international standards ISO 45001 and ISO 14001. Moreover, since 2020, EDPR has a Third Party Integrity Due Diligence Procedure which was approved with the goal to rein- force the mechanisms for identifying and preventing possible integrity or corruption risks for EDPR in the relationship with third parties. In this sense, during 2021, 397 Compliance analysis of third parties were performed (closed Integrity Due Dili- gence Analysis). In addition, an internal tool has been developed to facilitate the management of the Integrity Due Diligence analyses. In cases with high risk, it is necessary the approval of the Management Team, and the inclusion of robust clauses related to corruption in the corresponding agreements is recommended. In a previous study to characterise EDPR’s supply chain, performed in 2015, including the analysis of the exposure to eco- nomic, social and environmental risks, performed using the ESCHER (Efficient Supply Chain Economic and Environmental Reporting) methodology developed by PwC, it was determined that 300 thousand-ton GHG emissions were associated to EDPR’s direct and indirect purchases, only 5% of which related to direct purchases. Through this study, EDPR aims to identify areas where should focus its improvement activities in order to significantly reduce its exposure to risk and optimise impacts. GRI 414-2 – Negative social impacts in the supply chain and actions taken EDPR’s procurement process is developed within the framework of the Procurement Policy, which extends to EDPR’s both direct and indirect suppliers, and from which the most relevant aspects for EDPR regarding the supply chain’s high quality and sustainability are established. Accordingly, EDPR has in place requirements related to Sustainability, Quality and Risk management that have to be met by its suppliers throughout the main procurement phases: registration process, contracting and, lastly, the monitoring and evaluation of the suppliers. EDPR has a Corporate System of Supplier Registration in place which works as the support to search and select suppliers by providing detailed information, validated and updated by credible sources in order to guarantee their accreditation through financial, technical quality and sustainability criteria. This includes social topics such as the existence of an occupa- tional health & safety management system and its certification, the existence of social requirements in the suppliers procure- ment conditions or previous condemnations of forced, compulsory or child labour. EDPR has a Supplier Qualification Process in place since 2020. The main goal of this process is to provide a more thorough analysis on critical topics such as technical capabilities, health and safety, environment and ethics, and to establish highly standardised minimum requirements to ensure that the suppliers with whom EDPR conducts business are qualified. All pa- rameters of the Qualification system are periodically reviewed and reassessed by EDPR to guarantee that supply chain performance remains on the high quality level required. The qualified suppliers are then included in a Suppliers Qualification List and are able to participate in the EDPR bidding and contracting processes. The incorporation of adequate criteria in the bidding and contracting processes of the Company is essential to ensure the management and mitigation of operational risks in the supply chain. In Europe & Brazil, EDPR has a Suppliers Sustainability Guide in place for both construction and O&M operations, providing an overview of the sustainability requirements EDPR expects its suppliers to meet. The guide includes H&S, environmental and ethical requirements such as compliance with applicable regulations, policies, internal norms, procedures and systems in place. In addition, EDPR has implemented a pro- cess that classifies suppliers according to their H&S and environmental risks. The classification serves as an input in the selection of suppliers during the bidding phase. Based on the individual values obtained in this classification, suppliers may be excluded from the bidding process. If the supplier wants to be re-considered or participate in new processes, an action plan to solve the identified issues has to be presented and EDPR shall approve the action plan proposal.

133 Adequate compliance by all EDPR suppliers with applicable H&S and environmental requirement is essential to guarantee the correct performance of the contracted services and works. Aiming to ensure that suppliers comply with these require- ments, the Company has established a disciplinary and sanctioning regime, which is included in all requests for proposal, contracts and purchase orders so any provider will be always informed about the consequences of not complying with EDPR H&S and environmental requirements. In order to guarantee that the suppliers comply with the previously mentioned requirements, EDPR monitors strategic sup- pliers during their services delivery. EDPR performs internal inspections during the construction and operation phases to monitor the suppliers performance re- garding environmental and H&S aspects and to identify potential risks. In 2021, EDPR performed 1,670 inspections to 259 suppliers regarding their H&S performance. As a result of these inspections, the Company identifies corrective actions needed and establishes an action plan for continuous improvement. Furthermore, EDPR hires an external party for additional super- vision in these areas. These processes are reinforced by the integrated Health and Safety and Environmental Management System, which was developed and externally certified according to international standards ISO 45001 and ISO 14001. Moreover, since 2020, EDPR has a Third Party Integrity Due Diligence Procedure which was approved with the goal to rein- force the mechanisms for identifying and preventing possible integrity or corruption risks for EDPR in the relationship with third parties. In this sense, during 2021, 397 Compliance analysis of third parties were performed (closed Integrity Due Dili- gence Analysis). In addition, an internal tool has been developed to facilitate the management of the Integrity Due Diligence analyses. In cases with high risk, it is necessary the approval of the Management Team, and the inclusion of robust clauses related to corruption in the corresponding agreements is recommended. In a previous study to characterise EDPR’s supply chain, performed in 2015, including the analysis of the exposure to eco- nomic, social and environmental risks, performed using the ESCHER (Efficient Supply Chain Economic and Environmental Reporting) methodology developed by PwC, it was determined that more than 20,000 jobs related to EDPR’s direct pur- chases were created, more than €735 million gross value added was associated to EDPR’s purchases, and that ~0% of EDPR’s direct purchases were identified as having significant risk for incidents of child labour, forced or compulsory labour or freedom of association. Through this study, EDPR aims to identify areas where should focus its improvement activities in order to significantly reduce its exposure to risk and optimise impacts.

134 Environmental Management For information regarding GRI 103 – Management Approach for this material topic, please refer to section Natural Capital of the chapter Execution. GRI 304-2 – Significant impacts of activities, products, and services on bi- odiversity As a responsible company, EDPR is aware of the sensitivity of natural ecosystems and the pressures affecting biodiversity. Thus, EDPR assumes its commitment to contribute to the prevention or reduction of loss in biodiversity, as stated in its Envi- ronmental Policy. EDPR's commitment towards biodiversity protection is focused on the main impacts of its activities: mi- grating birds, bats and habitat fragmentation. As a result, the Company particularly commits to protect the wildlife surround- ing its wind farms. The Company has implemented relevant measures to identify the impacts of its operations on biodiversity, including: • Environmental impact assessments and/or risk mapping: During the development phase of any project of the Com- pany, the potential environmental impacts are analysed in detail in the environmental impact studies of the projects and other specific environmental studies, always performed by professional external experts. These studies evaluate the possible impacts of the projects in factors such as fauna, flora, soil, air and water bodies, among others. • Monitoring of biodiversity indicators: EDPR has established an environmental monitoring which is implemented by an external party. Even so, efforts are intensified with specific monitoring procedures in the small number of sites located inside or close to protected areas. In addition, the Company has defined general procedures in its Environmental Management System to prevent, correct or compensate impacts in the environment. The environmental strategy of the Company complements this approach, with the ambition for a globally positive balance through projects focused on the conservation of wildlife. Moreover, as a sustainable company, it is EDPR’s duty to contribute to the development of research and conservation pro- grams, as well as to broaden scientific knowledge on biodiversity matters by supporting institutions and strengthening dia- logue and partnerships. GRI 304-3 – Habitats protected or restored EDPR’s business is its best contribution to reduce biodiversity loss. Nevertheless, the Company’s commitment to contribute to the protection of biodiversity leads to an active role in the conservation of wildlife surrounding its facilities. Even though EDPR works to minimise any impact on the land surrounding its facilities, the construction and dismantlement processes of wind farms and solar plants are closely followed by EDPR teams, who work to reduce potential impacts or disturbances and to ensure proper restoration of the land once the works finish, cleaning up and rehabilitating the sites to return the area to its initial state. In 2021, EDPR finished the land restoration of five projects after both construction and repowering works, restoring 99.7% of the hectares that were vegetally affected by the project. In addition, EDPR actively participates in the protection of biodiversity mainly through collaborations with several organisa- tions to further protect wildlife surrounding its facilities. 4.10.

135 GRI 304-1 – Operational sites owned, leased, managed in, or adjacent to, protected areas and areas of high biodiversity value outside protected areas Note 1: This table contains information regarding every EDPR operational sites in or adjacent to protected areas. EDPR does not own sites in or adjacent to protected areas in its remaining markets. Note 2: Coll de la Garganta appears twice in the table as the first entry refers to a bird protected area and the second entry to a protected area due to the community importance of the site. Note 3: Serra Voltorera appears twice in the table the first entry refers to a bird protected area and the second entry to a protected area due to the community importance of the site. Note 4: Ávila appears twice in the table the first entry refers to a bird protected area and the second entry to a protected area due to the community im- portance of the site. Note 5: Although the Suyal wind farm, which is partially within a protected area, shows 0.0 ha in the table above, this is due to rounding since 0.007 ha of the site is in a protected area. COUNTRY FACILITY NAME TYPE OF OPERATION POSITION IN RELATION WITH PROTECTED AREA FACILITY AREA IN PROTECTED NATURAL AREA (ha) FACILITY AREA IN PROTECTED NATURAL AREA (%) ATTRIBUTE OF THE PROTECTED AREA STATUS OF THE PROTECTED AREA Belgium Sivry Wind farm Adjacent 0.0 0% Terrestrial Natura 2000 Korsze III Wind farm Adjacent 0.0 0% Terrestrial-Freshwater Area of Protected Landscape Ilza Wind farm Partially Within 6.6 81% Terrestrial Regional park Tomaszow Wind farm Adjacent 0.0 0% Terrestrial-Freshwater Natura 2000 Pena Suar Wind farm Inside 6.3 100% Terrestrial Natura 2000 Açor Wind farm Partially Within 0.1 1% Terrestrial Natura 2000 Açor II Wind farm Partially Within 6.0 88% Terrestrial Natura 2000 Bustelo Wind farm Inside 8.9 100% Terrestrial Natura 2000 Falperra-Rechãzinha Wind farm Partially Within 29.2 88% Terrestrial Natura 2000 Fonte da Quelha Wind farm Inside 8.1 100% Terrestrial Natura 2000 Alto do Talefe Wind farm Inside 9.2 100% Terrestrial Natura 2000 Fonte da Mesa Wind farm Partially Within 8.2 83% Terrestrial Natura 2000 Madrinha Wind farm Inside 4.1 100% Terrestrial Natura 2000 Safra-Coentral Wind farm Inside 19.7 100% Terrestrial Natura 2000 Negrelo e Guilhado Wind farm Partially Within 9.6 98% Terrestrial Natura 2000 Testos Wind farm Partially Within 2.9 22% Terrestrial Natura 2000 Natura 2000 National protected area Tocha Wind farm Inside 6.8 100% Terrestrial Natura 2000 Padrela/Soutelo Wind farm Partially Within 1.0 41% Terrestrial Natura 2000 Guerreiros Wind farm Partially Within 0.1 0.2% Terrestrial Natura 2000 Vila Nova Wind farm Partially Within 7.1 42% Terrestrial Natura 2000 Vila Nova II Wind farm Partially Within 9.1 34% Terrestrial Natura 2000 Balocas Wind farm Partially Within 0.4 1% Terrestrial Natura 2000 Ortiga Wind farm Adjacent 0.0 0% Terrestrial Natura 2000 S. João Wind farm Adjacent 0.0 0% Terrestrial Natura 2000 Alto Arganil Wind farm Partially Within 0.8 5% Terrestrial Natura 2000 Salgueiros-Guilhado Wind farm Partially Within 0.3 3% Terrestrial Natura 2000 Serra do Mú Wind farm Adjacent 0.0 0% Terrestrial Natura 2000 Barão de São João Wind farm Inside 22.1 100% Terrestrial-Marine Natura 2000 Albesti Wind farm Adjacent 0.0 0% Terrestrial Natura 2000 Pestera Wind farm Adjacent 0.0 0% Terrestrial Natura 2000 Sarichioi Wind farm Partially Within 0.1 0.1% Terrestrial Natura 2000 Burila Mica Solar plant Inside 22.7 100% Terrestrial-Freshwater Natura 2000 Sierra de Boquerón Wind farm Inside 10.4 100% Terrestrial Natura 2000 La Cabaña Wind farm Partially Within 8.2 53% Terrestrial Natura 2000 Natura 2000 National protected area Coll de la Garganta Wind farm Partially Within 0.060 1% Terrestrial-Freshwater Natura 2000 Puntaza de Remolinos Wind farm Partially Within 1.770 57% Terrestrial Natura 2000 Planas de Pola Wind farm Partially Within 6.1 55% Terrestrial Natura 2000 Ávila Wind farm Adjacent 0.0 0% Terrestrial-Freshwater Natura 2000 Buenavista Wind farm Adjacent 0.0 0% Terrestrial-Marine Natura 2000 Serra Voltorera Wind farm Adjacent 0.0 0% Terrestrial Natura 2000 Villoruebo Wind farm Partially Within 2.1 43% Terrestrial-Freshwater Natura 2000 Villamiel Wind farm Partially Within 1.9 29% Terrestrial-Freshwater Natura 2000 La Mallada Wind farm Partially Within 1.41 7.87% Terrestrial-Freshwater Natura 2000 Las Monjas Wind farm Partially Within 0.0 0% Terrestrial-Freshwater Natura 2000 Coll de la Garganta Wind farm Partially Within 0.06 1% Terrestrial-Freshwater Natura 2000 Tejonero Wind farm Partially Within 0.2 1% Terrestrial Natura 2000 Ávila Wind farm Adjacent 0.0 0% Terrestrial-Freshwater Natura 2000 Sierra de los Lagos Wind farm Adjacent 0.0 0% Terrestrial Natura 2000 Mostaza Wind farm Adjacent 0.0 0% Terrestrial Natura 2000 Los Almeriques Wind farm Adjacent 0.0 0% Terrestrial-Freshwater Natura 2000 Suyal Wind farm Partially Within 0.0 0% Terrestrial Natura 2000 Serra Voltorera Wind farm Adjacent 0.0 0% Terrestrial Natura 2000 Monseivane Wind farm Partially Within 17.2 97% Terrestrial-Freshwater Natura 2000 La Celaya Wind farm Partially Within 9.0 70% Terrestrial-Freshwater Natura 2000 Wind farm Partially Within 0.01 0.3% Terrestrial Natura 2000 Wind farm Adjacent 0.0 0% Terrestrial Natura 2000 La Victoria Wind farm Partially Within 0.07 0.1% Terrestrial Natura 2000 La Victoria Wind farm Partially Within 0.07 0.1% Terrestrial Natura 2000 Marquesado Wind farm Partially Within 1.52 2.2% Terrestrial Natura 2000 0.0 0% Terrestrial 7.8 61% Terrestrial Poland Portugal Serra Alvoaça Wind farm Partially Within Romania Spain Tahivilla Wind farm Adjacent Cerro del Conilete

136 GRI 306-1 – Waste generation and significant waste-related impacts The waste generated by EDPR is not directly linked to the generation process. Most of them are related to turbines’ operation and maintenance processes, and the rest is waste originated in facilities and offices. Accordingly, most of the hazardous waste produced by the sites is related to oil and oil-related waste such as oil filters or oil containers, used mainly for lubrication of the turbines. The consumption of this oil is based on certain pre-defined replace- ment time frequencies (between 2 and 5 years, based on the component, oil type and manufacturer). Annual fluctuations in hazardous waste generated are heavily dependent on the multiannual oil replacement programs mentioned. Non-hazardous waste generated by the company includes mixed municipal waste, paper, metals, and plastics, among others. GRI 306-2 – Management of significant waste-related impacts The company promotes the recovery of waste rather than disposal through recycling and other means. In this context, during 2021, EDPR recovered 80% of the waste generated. Please see below the summary of waste generation and recovery ratios: WASTE - RATIOS UN 2021 2020 % YoY Total waste kg/GWh 45 37 +22% Total hazardous waste kg/GWh 23 17 +38% Total non-hazardous waste kg/GWh 22 21 +6% Total waste recovered % 80% 76% +4 pp Hazardous waste recovered % 95% 94% +1 pp Non-hazardous waste recovered % 65% 62% +3 pp GRI 306-3 – Waste generated WASTE BY COMPOSITION UN WASTE GENERATED HAZARDOUS WASTE Oil related waste t 595 Contaminated packaging t 39 Batteries t 18 Antifreeze fluids t 10 Electronic equipment containing hazardous waste t 5 Other hazardous waste t 12 Total t 677 NON-HAZARDOUS WASTE Mixed municipal waste t 195 Paper and cardboard t 117 Metals t 72 Electronic equipment t 67 Iron and steel t 40 Plastics t 32 Wood t 28 Septic tank sludge t 21 Wiping cloths and protective clothing t 11 Fiberglass t 9 Biodegradable waste t 2 Glass t 1 Other non-hazardous waste t 64 Total t 658 GRAND TOTAL t 1,336

137 GRI 306-4 - Waste diverted from disposal WASTE RECOVERED UN 2021 2020 HAZARDOUS WASTE Total hazardous waste recycled t 261 122 Total hazardous waste with other recovery, except recycled t 380 315 Total t 640 436 NON-HAZARDOUS WASTE Total non-hazardous waste recycled t 257 276 Total non-hazardous waste with other recovery, except recycled t 171 88 Total t 428 364 GRAND TOTAL t 1,068 800 GRI 306-5 - Waste directed to disposal WASTE DISPOSED UN 2021 2020 HAZARDOUS WASTE Total hazardous waste sent to landfill t 19 20 Total hazardous waste with other disposal, except landfill t 18 10 Total t 37 30 NON-HAZARDOUS WASTE Total non-hazardous waste sent to landfill t 214 215 Total non-hazardous waste with other disposal, except landfill t 17 9 Total t 231 224 GRAND TOTAL t 268 254 Notes to the waste indicators reported above: • For the purposes of this report, all wastes have been classified as hazardous or non-hazardous according to European waste catalogue; however, in each country where EDPR has a geographic presence, each wind farm is required to adhere to national law by following company procedures for handling, labelling, and storage of wastes to ensure com- pliance. in cases like in the United States, when the company’s operations generate small quantities of substances which fall into additionally-regulated categories such as used oils and universal wastes, EDPR follows strict standards for handling and disposal of these waste types to ensure and remain compliant with all applicable laws. • Includes waste both from operational facilities and offices. Waste from offices refers to 1Q20 and 4Q21 data (due to the home office implemented the rest of the year). • Data excludes waste caused by non-recurrent events. • All waste is treated offsite.

138 Significant spills Given EDPR’s activity and its locations, oil spills and fires are the major environmental risks the Company faces. The Envi- ronmental Management System is designed and implemented to prevent emergency situations from happening. But, just to be cautionary, the system covers the identification and management of these, including the near miss situations. EDPR defines significant spills and fires as any spill affecting water bodies/courses, protected soils or soils of interest because of its natural value, or fire affecting protected areas and/or species (according to local protection laws), derived from the O&M activities in the facilities. EDPR continues to register near miss situations, when a registered incident does not reach the category of significant spill. In 2021, there was a fire incident at a solar plant in Mexico, that resulted in a fatality of a snake protected under the country law. There were also 83 near miss situations registered during the year (no variation vs 2020). In this context, EDPR performs regular environmental drills to guarantee that all employees and suppliers are familiar with the risks and have received the appropriate training to prevent and act, if necessary. Other environmental management related topics: Despite EDPR's core activities do not pose any threats of serious or irreversible damage to the environment, the Company, in compliance with the Precautionary Principle, applies cost-effective measures to prevent environmental degradation such as provisions for dismantling and decommissioning of property, plant and equipment to dismantle and decommission those assets at the end of their useful lives. Consequently, EDPR has booked provisions for property, plant and equipment related to electricity wind and solar generation for the responsibilities of restoring sites and land to its original condition, in the amount of €313,594 thousand as at 31 December 2021 (+3% vs 2020).

139 Communication and transparency Contributions to foundations and non-profit entities EDPR contributed with more than 305 thousand euros to Foundations (87% related to Fundación EDP España and Instituto EDP in Brazil), -55% vs 2020. In addition, EDPR contributed with c.437 thousand euros to non-profit organisations and NGOs, -18% YoY. The interannual variations are mostly due to EDPR’s solidarity campaign carried out in 2020 in response to the COVID-19 pandemic. GRI 102-13 – Membership of associations The EDP Group raises awareness to policy makers and legislators about the interests of the business sector and/or its own. Globally, EDP Group’s activities include participation in industry associations (“Industry Institutions”) comprising multiple in- dustry participants that work to advance shared policy objectives. EDPR’s approach and involvement with Industry Institutions is in accordance with EDP Group’s internal regulations, policies and procedures, including the principles of integrity and transparency expressed in the Code of Ethics. In Europe, activities are monitored by means of voluntary registration on a platform created for that purpose by the European Commission – "Transparency Register". EDP has been registered since the creation of this platform in 2011. In North America, relevant Industry Institutions are required to disclose and/or register campaign finance and lobbying activities in accordance with applicable local, state, or federal law. In the following table are presented the contributions concerning the activities of representation of interests of EDPR: ACTIVITIES OF REPRESENTATION OF INTEREST UN 2021 2020 Trade associations or tax-exempt groups €k 1,700 1,874 Lobbying, interest representation or similar €k 549 586 Other €k 29 22 Local, regional or national political campaigns / organizations / candidates €k 0 0 Total €k 2,278 2,482 The table below contains the most relevant contributions for associations in 2021: MOST RELEVANT CONTRIBUTIONS UN 2021 American Clean Power Association €k 370 Solar Energy Industry Association €k 141 American Wind Wildlife Institute €k 97 Asociación Empresarial Eólica (AEE) €k 73 American Energy Action €k 65 GRI 201-4 – Financial assistance received from government EDPR has not received any financial assistance from the government in 2021, neither in 2020. Note: The American legislation foresees - and has foreseen in the past - several tax incentives for the production of renewable energy in the United States. Some examples are the production tax credits, the research and development tax credits, the former cash grant, the so-called MACRS (a way of accelerated depreciation), etc. These tax credits are in most cases are part of the renewable energy remuneration scheme. 4.11.

140 GRI 206-1 – Legal actions for anti-competitive behaviour, anti-trust, and monopoly practices EDPR has no knowledge of any legal actions for anti-competitive behaviour, anti-trust or monopoly practices in 2021, neither in 2020. Note: For the information reported in this indicator, EDPR considers passive contingencies associated with litigation qualified as probable in 2021 recorded in the contingencies reporting system. GRI 307-1 – Non-compliance with environmental laws and regulations EDPR has no knowledge of any non-compliance with environmental laws and regulations in 2021, neither in 2020. In addi- tion, during 2021 and 2020, the Company did not receive any significant penalty for non-compliance with environmental laws and regulations. Note 1: For the information reported in this indicator, EDPR considers passive contingencies associated with litigation qualified as probable in 2021 recorded in the contingencies reporting system and that have obtained an unappealable judgement. Note 2: EDPR defines as significant penalty the ones above €10k. GRI 415-1 – Political contributions The Integrity Policy, in line with the principles defined in the Code of Ethics, prohibits any contribution or association of the EDPR brand to political parties, candidates, campaign structures / political candidacy or to related persons or entities, namely through the delivery of goods or the provision of services, directly or indirectly, on behalf or representation of EDPR, since it may jeopardize the integrity of the Group entities, unless otherwise required by law. In addition, EDPR should make available the necessary arrangements for employees to take part, in their strictly personal capacity, in political processes, under ap- plicable law. In North America, EDPR retains political consultants for lobbying activities. However, these political consultants are prohib- ited from making contributions to political candidates, campaigns or parties on behalf of or in the name of EDPR. Additionally, EDPR has provided financial support for the activities of America Energy Action, a welfare organisation organised under Section 501(c)(4) of the US Internal Revenue Code. Such social welfare organizations may participate legally in some political activity on behalf of or in opposition to candidates for public office. However, any such political activity must be completely independent of any political candidate or political campaign. Finally, in accordance with US law, and at the request of US employees, EDPR provides properly regulated mechanisms for employees participation in political processes and has enabled the establishment of a political action committee (PAC) called the EDPR NA PAC. The EDPR PAC is funded entirely by voluntary personal monetary contributions made by members of the PAC, who are eligible employees in accordance with US law, and decisions on which political campaigns to support are made with the approval of the PAC governing board, which is made up of elected members of the PAC, also in accordance with US law. These activities are then aligned with the above mentioned principles of the Integrity Policy and the Code of Ethics. GRI 419-1 – Non-compliance with laws and regulations in the social and economic area EDPR has no knowledge of any non-compliance with social and economic laws and regulations in 2021, neither in 2020. The Company received a significant tax related penalty of €12.2k in 2021, and of €21.8k in 2020. Note 1: For the information reported in this indicator, EDPR considers passive contingencies associated with litigation qualified as probable in 2021 recorded in the contingencies reporting system and that have obtained an unappealable judgement. Note 2: EDPR defines as significant penalty the ones above €10k.

141 GRI 207-1 – Approach to tax EDPR’s fiscal strategy is based on five main pillars: 1) EDPR has an ethical and civic duty to contribute to the financing of the general functions of the States in which it operates, by paying the taxes, levies and other contributions that are due, contributing to the well-being of citizens and to the devel- opment of the Group's local business. In this context, it carries out its fiscal function with rigor and professionalism, in line with the "EDPR Fiscal Mission", in accordance with the following principles: • Implements the options which are most appropriate to the business and to the shareholders, in faithful compliance with the spirit and letter of the Law; • Pays the taxes that are due in all the geographical areas where it carries out its activity; • Adopts the arm’s length principle in intra-group transactions, in the context of the applicable international transfer pricing rules, guidelines and best practices, by transversally implementing an internal transfer pricing policy based on three main principles: • All intra-group transactions of a commercial or financial nature have a pre-defined pricing, with terms and condi- tions that are in line with what would normally have been practised between independent entities, in comparable operations; • The definition of the transfer price is based on the economic rationale of the intra-group transaction and, in accord- ance with the internal rules of the EDPR, not constituting an instrument for tax planning and / or tax evasion; • The documentation of intra-group transactions is fully compliant with the Guidelines of the Organisation for Eco- nomic Co-operation and Development (OECD), without prejudice to the specific aspects of the internal legislation of each geographical area. • Adopts tax practices based on principles of economic relevance and commonly accepted business practices; • Discloses true and complete information concerning relevant transactions; and, • Seeks to defend its legitimate interests by administrative means and, when appropriate, judicially, when the payment of any taxes, contributions and levies reasonably raises doubts regarding its legality. 2) EDPR reconciles the responsible compliance with tax obligations, with the commitment to create value for its shareholders, efficiently managing its tax burden and using the available tax benefits and incentives applicable in each region, taking into account the Group's global interest and foreseeing significant tax risks. 3) EDPR is committed to maintain a relationship with the Tax Authorities of the countries where it operates based on princi- ples of trust, good faith, transparency, cooperation and reciprocity, aiming to facilitate the application of the Law and to minimise litigation. 4) EDPR applies responsible policies, striving to maintain a low-risk tax profile in order to avoid conducts that could generate significant tax risks. To this end, EDPR implemented a global risk management policy with the objective of identifying, quan- tifying, managing, monitoring and minimising the tax risks, in close connection with the highest levels of control and decision. 5) EDPR considers transparency a core principle of its fiscal function, particularly through: • Not resorting to opaque structures or operating in jurisdictions for reasons that do not have a close connection with the economic activity developed within them. EDPR does not have subsidiaries in territories considered to be noncooper- ating in accordance with Spanish and Portuguese legislations and / or with the OECD benchmarks; and, • Disclosure of tax information in accordance with the best international practices and recommendations, to facilitate the understanding of the global contribution for the economies and the principles governing its fiscal policies and prac- tices.

142 GRI 207-2 – Tax governance, control and risk management The process of management and control of the tax risk begins with the identification and mapping of the risks to which the EDPR is subject. In this sense, EDPR continuously assesses the tax risks and uncertainties, conducting regular exercises in order to identify, quantify and monitor risks that arise from external events with potential material impact. Accordingly, the Group implemented a risk management policy for identifying, quantifying, managing, monitoring and miti- gating, among others, the tax risks, particularly the risk of materialisation of the tax contingencies. Indeed, EDPR, through a specialised team, continuously monitors the processes associated with tax risks and contingencies (related and not related to ongoing litigation), in close cooperation with the respective Business Units, corporate legal services and external lawyers and consultants. In addition, the EDPR’s Management Team is involved in the decision-making process of the relevant op- erations, being its tax impact, if any, analysed, documented and included in the documentation submitted for approval, in particular when it may constitute an important element for the final decision, in order to ensure long-term value creation for shareholders. EDPR also has an Audit, Control and Related-Party Transactions Committee, whose main mission, upon del- egation of the BoD, includes the permanent monitoring and supervision of any matters related to the internal control system over financial information and the risk management process, particularly in its fiscal aspects. 207-3 – Stakeholder engagement and management of concerns related to tax The EDP Group reconciles responsible compliance with tax obligations, with the commitment to create value for its share- holders, advocating efficient management of its tax burden through the use of legally available tax benefits and incentives applicable in each region and which are appropriate to the business carried out. The EDP Group is specifically committed to maintain a relationship with the Tax Authorities of the countries where it operates based on principles of trust, good faith, transparency, cooperation and reciprocity, aiming to facilitate the application of the Law and to minimize litigation. 207-4 – Country-by-country reporting CORPORATE INCOME TAX PAID UN 2021 2020 Spain €M 4 18 Portugal €M 28 34 France / Belgium €M 1 1 Poland €M 11 4 Romania €M 0 0 Italy €M 3 3 Greece €M 0 0 UK €M 0 0 Brazil €M 5 15 Colombia €M 0 0 Chile €M 0 - US €M 1 0 Canada €M 0 0 Mexico €M 10 0 Others €M 0 0 Total €M 63 76 Note 1: The American legislation foresees - and has foreseen in the past - several tax incentives for the production of renewable energy in the United States. Some examples are the production tax credits, the research and development tax credits, the former cash grant, the so-called MACRS (a way of accelerated depreciation), etc. these tax credits, that in most cases are part of the renewable energy remuneration scheme, have accumulated during the last years, allow- ing the minimisation of CIT cash-out in this geography. Note 2: As a general rule, the corporate income tax cash-out detailed above considers both the down payments corresponding to the fiscal year in course (where applicable) and the balance of the corporate income tax corresponding to the previous year. Note 3: For information regarding Profit before income tax, please refer to 4.3 Economic Business Sustainability. For the number of employees by country, please refer to 4.5 People Management, GRI 102-8.

143 Digital transformation For information regarding GRI 103 – Management Approach for this material topic, please refer to section Digital Capital of the chapter Execution. Ethics and Compliance For information regarding GRI 103 – Management Approach for this material topic, please refer to section Integrity and ethics of the chapter The Company. GRI 205-1 – Operations assessed for risks related to corruption EDPR analyses all the new markets where it operates through a Market overview including Sustainability topics such as human rights, labour and environment. This study also evaluates the corruption risk. Since 2020, EDPR has a Third Party Integrity Due Diligence Procedure which was approved with the goal to reinforce the mechanisms for identifying and preventing possible integrity or corruption risks for EDPR in the relationship with third parties. In this sense, during 2021, 397 Compliance analysis of third parties were performed (closed Integrity Due Diligence Analysis). In addition, an internal tool has been developed to facilitate the management of the Integrity Due Diligence analyses. In cases with high risk, it is necessary the approval of the Management Team, and the inclusion of robust clauses related to corruption in the corresponding agreements is recommended. GRI 205-2 – Communication and training on anti-corruption policies and procedures This year, EDPR modified its Anti-Corruption Policy, and since July 2021 it is called Integrity Policy. EDPR’s Integrity Policy aims to define the general principles of action and the duties for the Company, its employees, and business partners, in order to avoid the commission of criminal and administrative offences, in particular, conducts associated with crimes of corruption and bribery, money laundering and terrorism financing, antitrust/anti-competitive practices and non-compliance with data protection requirements. During 2021, the Integrity Policy was complemented by other procedures that facilitate the application of this Policy. Among others: (i) the Donations and Sponsorships Procedure, (ii) the Offers and Events Procedure and (iii) the Conflict of Interest Procedure. All this normative development has implied a strong work to make the new policies and procedures of the Group known, having deepened this year a lot in training and communication in the anti-corruption area. Training and communication are fundamental tools to strengthen and disseminate the ethic and integrity culture. In that sense, the following activities have been developed: (i) Training at Group level regarding the Integrity Due Diligence Proce- dure and the Procedure for relationship with Public Officials and Politically Exposed Persons; (ii) a Conflict of Interest Proce- dure Training; (iii) a Gifts and Events Procedure Training; and (iv) an Integrity Policy Training. These trainings have been complemented with communication activities. In addition, specific anti-corruption topics have been communicated through different platforms (EDPR intranet or EDPR workplace): (i) a Speak up culture communication and (ii) a communication for the anti-corruption day, among others. 4.12. 4.13.

144 GRI 205-3 – Confirmed incidents of corruption and actions taken EDPR has no knowledge of any confirmed incident of corruption in 2021, neither in 2020. Note: For the information reported in this indicator, EDPR considers passive contingencies associated with litigation qualified as probable in 2021 recorded in the contingencies reporting system and claims/doubts reported in the Ethics Channel or the Compliance Channel. GRI 406-1 – Incidents of discrimination and corrective actions taken EDPR has no knowledge of any incident of discrimination in 2021. In 2020, EDPR had knowledge of a complaint for discrimination at the Equal Employment Opportunity Commission (EEOC). The issue was analysed by the responsible area and finally, resolved and withdrawn by the complainant. Note: For the information reported in this indicator, EDPR considers passive contingencies associated with litigation qualified as probable in 2021 recorded in the contingencies reporting system, and claims/doubts reported in the Ethics Channel or the Compliance Channel and considered as founded. GRI 407-1 – Operations and suppliers in which the right to freedom of as- sociation and collective bargaining may be at risk Throughout EDPR’s operations, both employees and suppliers must comply with the EDPR’s Code of Ethics, which has spe- cific clauses to respect freedom of trade union association and recognise the right to collective bargaining. During 2021, neither in 2020, EDPR did not register any claims/doubts in the Ethics Channel nor the Compliance Channel regarding oper- ations with significant risk where the right to freedom of association and collective bargaining may be at risk. In a previous study to characterise EDPR’s supply chain, performed in 2015, including the analysis of the exposure to eco- nomic, social and environmental risks, performed using the ESCHER (Efficient Supply Chain Economic and Environmental Reporting) methodology developed by PwC, it was determined that ~0 of EDPR’s direct purchases were identified in which the right to exercise freedom of association and collective bargaining may be at significant risk. Through this study, EDPR aims to identify areas where should focus its improvement activities in order to significantly reduce its exposure to risk and optimise impacts. GRI 408-1 – Operations and suppliers at significant risk for incidents of child labour Throughout EDPR’s operations, both employees and suppliers must comply with the EDPR’s Code of Ethics, which has spe- cific clauses against child labour. During 2021, neither in 2020, EDPR did not register any claims/doubts in the Ethics Channel nor the Compliance Channel regarding operations with significant risk for incidents of child labour. In a previous study to characterise EDPR’s supply chain, performed in 2015, including the analysis of the exposure to eco- nomic, social and environmental risks, performed using the ESCHER (Efficient Supply Chain Economic and Environmental Reporting) methodology developed by PwC, it was determined that ~0 of EDPR’s direct purchases were as having significant risk for incidents of child labour. Through this study, EDPR aims to identify areas where should focus its improvement activ- ities in order to significantly reduce its exposure to risk and optimise impacts.

145 GRI 409-1 – Operations and suppliers at significant risk for incidents of forced or compulsory labour Throughout EDPR’s operations, both employees and suppliers must comply with the EDPR’s Code of Ethics, which has spe- cific clauses against forced labour. During 2021, neither in 2020, EDPR did not register any claims/doubts in the Ethics Chan- nel nor the Compliance Channel regarding operations with significant risk for incidents of forced and compulsory labour. In a previous study to characterise EDPR’s supply chain, performed in 2015, including the analysis of the exposure to eco- nomic, social and environmental risks, performed using the ESCHER (Efficient Supply Chain Economic and Environmental Reporting) methodology developed by PwC, it was determined that ~0 of EDPR’s direct purchases were as having significant risk for incidents of forced or compulsory labour. Through this study, EDPR aims to identify areas where should focus its improvement activities in order to significantly reduce its exposure to risk and optimise impacts. Other corporate ethics topics: Money laundering The money laundering risk involves acquiring, possessing, using, converting, or transmitting goods knowing that they have their origin in a criminal activity, or perform any other act that seeks to cover their illicit origin. EDPR has identified in its Compliance Model the money laundering risk and has developed several controls and measures to minimise the probability of occurrence. Currently, the money laundering risk is categorised as low.

146 Reporting Principles This is the thirteenth year EDPR publishes an integrated report describing the Company’s performance, with respect to the three pillars of sustainability: economic, environmental, and social. Information is presented according Global Reporting Initiative (GRI) Standard 101 Foundation guidelines for Sustainability Reporting and also provides information on the additional electricity sector supplement indicators directly related to the Company business, which is the power generation from renewable sources, basically wind. A full GRI standards content index for the report can be found in Annex II of this chapter (4. Sustainability). United Nations Global Compact Global Compact is an initiative of the United Nations launched in 2000 that defines guideline directives for businesses that opt to contribute to sustainable development. EDPR has become signatory of this initiative and is committed to put these principles into practice, informing society of the progress it has achieved. Additionally, in 2015, in the United Nations General Assembly, the world leaders decided to assume a set of global goals to change the world until 2030. The agenda that must guide the joint work of governments, citizens, companies and organisa- tions, consists of 17 Sustainable Development Goals (SDGs) with the ambition of ending poverty, fighting against inequality and stopping climate change. EDPR will direct its contributions to eight of the 17 Sustainable Development Goals. To learn more about the UN Global Compact, please visit WWW.UNGLOBALCOMPACT.ORG. Global Reporting Initiative The GRI Standards are the first global standards for sustainability reporting, representing the global best practice for report- ing on a range of economic, environmental and social impacts. A company’s adherence to this initiative means that it concurs with the concept and practices of sustainability. This Annual Report has been prepared in accordance with the GRI Standards in its Core option, and these Standards have been independently assured according to ISAE 3000 by PwC. To learn more about the GRI guidelines, please visit WWW.GLOBALREPORTING.ORG. 4.14.

147 Annex I: Non-Financial Information Statement NON-FINANCIAL INFORMATION STATEMENT (SPANISH LAW 11/2018) AREA CONTENT SCOPE/ PERIMETER RELATED GRI STANDARDS CHAPTER BUSINESS MODEL Brief description of the Group's business model, which includes: • its business environment • its organisation and structure • the markets in which it operates • its goals and strategies • the main factors and trends that may af- fect its future evolution. Global EU1; EU2; 102-2; 102-4; 102-6; 102-7; 102-18; 103; 201-2 1.1.2 EDPR in the world 6 ; 1.1.3 Business description; 1.3 Organisation; 2.1 Business Environment; 2.2 Strategy; 3.1.2 Financial Performance; 4.2 Climate Change, GRI EU1, EU2 & 201-2; POLICIES A description of the policies that the Group applies regarding these issues, which in- cludes: • due diligence procedures implemented for the identification, evaluation, preven- tion and mitigation of significant risks and impacts; • verification and control procedures, in- cluding adopted measures. Global 103; 102-16 1.1.1 Vision, Values & Commitments; 1.3.4 Integrity and Ethics; 3.2 Human Capital; 3.3 Supply Chain Capital; 3.4 Social Capital; 3.5 Natural Capital. SHORT, ME- DIUM AND LONG- TERM RISKS The main risks regarding these issues re- lated to the activities of the Group, includ- ing, where relevant and proportionate, its business relationships, products or ser- vices that may have negative effects in these areas, and • how the group manages these risks, • explaining the procedures used to detect and evaluate them according to national, European or international reference frameworks for each subject. • Information on the impacts that have been detected must be included, offering a breakdown of them, in particular on the main risks in the short, medium and long term. Global 201-2; 205-1; 304-2; 306-1; 306-2; 308-2; 407-1; 408-1; 409-1; 413-2; 414-2 2.3 Risk Management; 4.2 Climate Change, GRI 201-2; 4.8 Community Engagement, GRI 413-2; 4.9 Suppliers Management, GRI 308-2 & 414-2; 4.10 Environmental Management, GRI 304-2, 306-1 & 306-2; 4.13 Ethics and Compliance, GRI 205-1, 407-1, 408-1 & 409-1. KPIS Key indicators of non-financial results that are relevant to the specific business activ- ity, and that meet the criteria of compara- bility, materiality, relevance and reliability. Global Please refer to Annex II: GRI Content Index ENVIRONMEN- TAL TOPICS Global Environment: • detailed information on the current and foreseeable effects of the company's ac- tivities on the environment and, where applicable, health and safety, environ- mental assessment or certification pro- cedures; • resources dedicated to the prevention of environmental risks; • the application of the Precautionary Principle, the amount of provisions and guarantees for environmental risks (e.g. derived from the law of environmental responsibility). Global 103 102-11; 201-2; 304-2; 305-1; 305-2; 305-3; 305-5; 307-1; 308-2 3.5 Natural Capital; 4.2 Climate Change, GRI 201-2, 305-1, 305-2, 305-3 & 305-5. 4.9 Suppliers Management, GRI 308-2; 4.10 Environmental Management, GRI 304-2; 4.11 Communication and Transparency, GRI 307-1. Pollution Measures to prevent, reduce or repair car- bon emissions that seriously affect the en- vironment, taking into account any form of air pollution specific to an activity, includ- ing: Global 302-4; 305-5 4.2 Climate Change, GRI 302-4 & 305-5. Noise Global 413-2 4.8 Community Engagement, GRI 413-2. Light pollution - - 4.1 Materiality Assessment, notes to the Materi- ality Matrix. 6 Secured MWs are not verified by PwC.

148 NON-FINANCIAL INFORMATION STATEMENT (SPANISH LAW 11/2018) AREA CONTENT SCOPE/ PERIMETER RELATED GRI STANDARDS CHAPTER ENVIRONMEN- TAL TOPICS Circular economy and waste prevention and management Circular economy. Global 306-2 3.5 Natural Capital; 4.10 Environmental Management, GRI 306-2. Waste prevention, recycling, reuse, other forms of recovery and disposal. Global 306-1; 306-2; 306-3: 306-4; 306-5 4.10 Environmental Management, GRI 306-1, 306-2, 306-3, 306-4 & 306-5; Actions to combat food waste. - - 4.1 Materiality Assessment, notes to the Materi- ality Matrix. Sustainable use of resources Water consumption and water supply ac- cording to local constraints. Global - 4.1 Materiality Assessment, notes to the Materi- ality Matrix. Consumption of raw materials and the measures adopted to improve the effi- ciency of their use. Global - 4.1 Materiality Assessment, notes to the Materi- ality Matrix. Direct and indirect consumption of energy, measures taken to improve energy effi- ciency and the use of renewable energies. Global 302-1; 302-4 3.5 Natural Capital; 4.2 Climate Change, GRI 302-1 & 302-4. Climate Change 103 2.1.1 COP 26 and “FIT for 55 package” deliver new hopes for decarbonization; 2.1.2 The evo- lution of renewables around the world in 2021; 3.5 Natural Capital. The important elements of greenhouse gas emissions generated as a result of the company's activities, including the use of the goods and services it produces. Global 305-1; 305-2; 305-3 4.2 Climate Change, GRI 305-1, 305-2 & 305-3. The measures adopted to adapt to the consequences of climate change. Global 201-2; 302-4; 305-5 4.2 Climate Change, GRI 201-2, 302-4 & 305-5. The reduction goals established voluntar- ily in the medium and long-term to reduce greenhouse gas emissions and the means implemented for that purpose. Global 305-5 4.2 Climate Change, GRI 305-5. Protection of biodiversity Measures taken to preserve or restore bio- diversity. Global 304-2; 304-3 4.10 Environmental Management, GRI 304-2 & 304-3. Impacts caused by activities or operations in protected areas. Global 304-1 4.10 Environmental Management, GRI 304-1. SOCIAL AND EMPLOYEES TOPICS Employment Global 103 3.2 Human Capital. Total number and distribution of employ- ees by gender, age, country and profes- sional category. Global 102-8; 405-1 4.5 People Management, GRI 102-8 & 405-1. Total number and distribution of work contract modalities. Global 102-8 4.5 People Management, GRI 102-8. Annual average of permanent contracts, temporary contracts and part-time con- tracts by gender, age and professional category. Global 102-8; 405-1 4.5 People Management, GRI 102-8 & 405-1. Number of dismissals by gender, age and professional category. Global 401-1 4.5 People Management, GRI 401-1. Average remunerations and their evolu- tion disaggregated by gender, age and professional category or equal value. Wage gap, the remuneration of equal or average positions in the company. Global 405-2 4.5 People Management, GRI 405-2. Avg. remuneration of directors and execu- tives, incl. variable remuneration, allow- ances, compensation, payment to l/t sav- ings forecast systems and any other per- ception disaggregated by gender. Global - 4.6 Corporate Governance. Implementation of labour disconnection policies. Global - 4.5 People Management, section “Work organi- sation and implementation of “right to discon- nect” policies”. Employees with disabilities. Global - 4.15 People Management, section “Employees with disabilities”.

149 NON-FINANCIAL INFORMATION STATEMENT (SPANISH LAW 11/2018) AREA CONTENT SCOPE/ PERIMETER RELATED GRI STANDARDS CHAPTER SOCIAL AND EMPLOYEES TOPICS Work organisation Working hours organisation. Global EU17 4.4 Health & Safety, GRI EU17; 4.5 People Management, section “Work organi- sation and implementation of “right to discon- nect” policies”. Number of hours of absenteeism. Global 403-9 4.4 Health & Safety, section “Absenteeism”. Measures designed to facilitate the enjoy- ment of conciliation and encourage joint responsibility of these by both parents. Global - 4.5 People Management, page 126. Health & Safety Global Conditions of health and safety at work. Global 103; 403-1; 403-2; 403-3; 403-5; 403-6; 403-7 3.4.1 Guarantee the highest health & safety standards; 4.4 Health & Safety, GRI 403-1, 403-2, 403-3, 403-5, 403-6 & 403-7. Work-related accidents, in particular their frequency and severity, occupational dis- eases, disaggregated by gender. Global 403-9; 403-10 4.4 Health & Safety, GRI 403-9 & 403-10. Social Relations Organisation of social dialogue, including procedures for informing and consulting employees and negotiating with them. Global 402-1 4.5 People Management, GRI 402-1. Percentage of employees covered by col- lective bargaining agreements by country. Global 102-41 4.5 People Management, GRI 102-41. The result of collective bargaining agree- ments, particularly in the health & safety at work area. Global 102-41 4.5 People Management, GRI 102-41. Training Policies implemented in the training area. Global 404-2; 404-3 4.5 People Management, GRI 404-2 & 404-3. Total amount of training hours by profes- sional categories. Global 404-1 4.5 People Management, GRI 404-1. Universal accessibility for people with disabilities - 4.5 People Management, section “Universal ac- cessibility”. Equality Measures taken to promote equal treat- ment and opportunities between women and men. Global 405-1 4.5 People Management, GRI 405-1. Equality plans (Chapter III of Organic Law 3/2007, of the 22nd of March, for effective equality of women and men), measures adopted to promote employment, proto- cols against sexual and gender-based harassment, integration and the universal accessibility of people with disabilities. Global - 4.5 People Management, section “Equality plans”. Policy against all types of discrimination and, where appropriate, management of diversity. Global - 1.3.4 Integrity and Ethics; 3.4.2. Respect human and labour rights; 4.5 People Management, section “Adopted measures to promote employment related to equality”. HUMAN RIGHTS Application of due diligence procedures in the field of human rights; Prevention of the risks of violation of human rights and, where appropriate, measures to mitigate, manage and repair possible abuses. Global - 1.3.4 Integrity and Ethics; 3.4.2. Respect human and labour rights. Complaints regarding cases of violation of human rights. Global 411-1 1.3.4 Integrity and Ethics; 4.8 Community Engagement, GRI 411-1. Promotion and compliance with the provi- sions of the fundamental Conventions of the International Labour Organization re- lated to respect for freedom of association and the right to collective bargaining. Global 102-41; 407-1 4.5 People Management, GRI 102-41; 4.13 Ethics and Compliance, GRI 407-1. The elimination of discrimination in em- ployment and occupation. Global 406-1 3.4.2. Respect human and labour rights; 4.13 Ethics and Compliance, GRI 406-1.

150 NON-FINANCIAL INFORMATION STATEMENT (SPANISH LAW 11/2018) AREA CONTENT SCOPE/ PERIMETER RELATED GRI STANDARDS CHAPTER HUMAN RIGHTS The elimination of forced or compulsory labour. Global 409-1 3.4.2. Respect human and labour rights; 4.13 Ethics and Compliance, GRI 409-1. The effective abolition of child labour. Global 408-1 3.4.2. Respect human and labour rights; 4.13 Ethics and Compliance, GRI 408-1. CORRUPTION AND BRIBERY Adopted measures to prevent corruption and bribery. Global 205-1; 205-2; 205-3; 415-1 4.11 Communication and Transparency, GRI 415-1; 4.13 Ethics and Compliance, GRI 205-1, 205-2 & 205-3. Measures to combat money laundering. Global - 4.13 Ethics and Compliance, section “Money laundering”. Contributions to foundations and non- profit entities. Global 413-1 4.8 Community Engagement, GRI 413-1; SOCIETY Company's commitments to the sustain- able development The impact of the society's activity on em- ployment and local development. Global 202-2; 203-1; 203-2; 413-1 4.8 Community Engagement, GRI 202-2, 203-1, 203-2 & 413-1; The impact of society's activity on local populations and in the territory. Global 103; 413-1; 413-2 3.4.3. Supporting communities; 4.8 Community Engagement, GRI 413-1 & 413-2. The relationships maintained with the lo- cal communities and the modalities of dia- logue with them. Global 413-1; 413-2 4.8 Community Engagement, GRI 413-1 & 413- 2. The association or sponsorship actions. Global 102-13; 413-1 4.8 Community Engagement, GRI 413-1; 4.11 Communication and Transparency, GRI 102-13. Subcontracting and suppliers The inclusion of social issues, gender equality and environmental issues in the Procurement Policy. Consideration of the suppliers and subcontractors' social and environmental responsibility when inter- acting with them. Global 102-9; 103; 204-1; 308-2; 414-2 3.3 Supply Chain Capital; 4.9 Suppliers Management, GRI 204-1, 308-2 & 414-2. Supervision systems and audits and their results. Global 414-2 3.3 Supply Chain Capital; 4.9 Suppliers Management, GRI 414-2. Customers Measures for the health and safety of con- sumers. Global EU25; 413-2 4.4 Health & Safety, GRI EU25; 4.8 Community Engagement, GRI 413-2. Complaining system, complaints received and their resolution. Global 205-3; 406-1; 407-1; 408-1; 409-1; 413-2; 1.3.4 Integrity and Ethics; 4.8 Community Engagement, GRI 413-2; 4.13 Ethics and Compliance, GRI 205-3, 406-1, 407-1, 408-1 & 409-1. Tax information Profit before income tax, by country. Cor- porate income tax paid. Global 201-1; 207-4 4.3 Business Sustainability, GRI 201-1; 4.11 Communication and Transparency, GRI 207-4. Financial assistance received from the government. Global 201-4 4.11 Communication and Transparency, GRI 201-4. OTHERS Annual total compensation ratio. Global 102-38 4.5 People Management, GRI 102-38. Legal Actions for anti-competitive behav- iour, anti-trust and monopoly practices. Global 206-1 4.11 Communication and Transparency, GRI 206-1. Non-compliance with environmental laws and regulations. Global 307-1 4.11 Communication and Transparency, GRI 307-1. Non-compliance with laws and regula- tions in the social and economic area. Global 419-1 4.11 Communication and Transparency, GRI 419-1. Statement from senior decision-maker. Global 102-14 Message from the CEO Identifying and selecting stakeholders; Approach to stakeholder engagement. Global 102-40; 102- 42; 103 1.1.5 Stakeholder focus. Key topics and concerns raised; List of material topics. Global 102-44; 102- 47 4.1 Materiality Assessment, Materiality Matrix. Innovation Global 103 3.7 Innovation Capital. Taxonomy Regulation Global - 4.3 Business Sustainability. Note: In addition to the indicators included in this table, non-financial information can be found in the following indicators: 102-1, 102-3, 102-5, 102-10, 102- 12, 102-43, 102-45, 102-46, 102-48, 102-49, 102-50, 102-51, 102-52, 102-53, 102-54, 102-55, 102-56.

151 Annex II: GRI Content Index External assurance: The GRI indicators included in the following table have been verified by PwC. See the correspondent Independent verification report in pages 158-160. Additionally, some GRI indicators refer to Notes in EDPR's 2021 Annual Accounts, which have been audited by PwC. See the correspondent Independent auditor's report on the consolidated annual accounts at the beginning of the document. GRI STANDARD DISCLOSURES CHAPTER GENERAL DISCLOSURES GRI 102: General Disclosures 2016 102-1 Name of the organisation 5. Corporate Governance (A. Shareholder Structure) 102-2 Activities, brands, products and services 1.1.3 Business Description 102-3 Location of headquarters EDPR head offices are located in Madrid (Spain) 102-4 Location of operations 1.1.2 EDPR in the world 102-5 Ownership and legal form 5. Corporate Governance (A. Shareholder Structure); 2021 Consolidated Annual Accounts - Note 1 102-6 Markets served 1.1.2 EDPR in the world 102-7 Scale of the organisation 1.1.2 EDPR in the world; 3.1.2 Financial Performance 102-8 Information on employees and other workers 4.5 People Management 102-9 Supply chain 3.3 Supply Chain Capital 102-10 Significant changes to the organisation and its supply chain 5. Corporate Governance (A. Shareholder Structure); 2021 Consolidated Annual Accounts - Note 6 & 41 102-11 Precautionary Principle or approach 2.3 Risk Management; 4.10 Environmental Management, “Other environ- mental management related topics”; 5. Corporate Governance (C. Internal Organization) 102-12 External Initiatives 4.14 Reporting Principles 102-13 Membership of associations 4.11 Communication and Transparency 102-14 Statement from senior decision-maker Message from the CEO 102-16 Values, principles, standards, and norms of behaviour 1.3.4 Integrity and Ethics; 5. Corporate Governance (C. Internal Organization) 102-18 Governance structure 1.3 Organisation; 5. Corporate Governance 102-38 Annual total compensation ratio 4.5 People Management 102-40 List of stakeholder groups 1.1.5 Stakeholders Focus 102-41 Collective bargaining agreements 4.5 People Management 102-42 Identifying and selecting stakeholders 1.1.5 Stakeholders Focus; 4.14 Reporting Principles

152 GRI STANDARD DISCLOSURES CHAPTER 102-43 Approach to stakeholder engagement 1.1.5 Stakeholders Focus; 4.1 Materiality Assessment; 4.14 Reporting Principles; Please visit our stakeholders’ information on the sustainability section in our website, www.edpr.com 102-44 Key topics and concerns raised 4.1 Materiality Assessment; 4.14 Reporting Principles 102-45 Entities included in the consolidated financial statements 2021 Consolidated Annual Accounts - Note 6 and Annex I 102-46 Defining report content and topic boundaries 4.1 Materiality Assessment; 4.14 Reporting Principles 102-47 List of material topics 4.1 Materiality Assessment, Materiality Matrix 102-48 Restatements of information 2021 Consolidated Annual Accounts - Note 6 102-49 Changes in reporting 2021 Consolidated Annual Accounts - Note 6 102-50 Reporting period 4.14 Reporting Principles 102-51 Date of most recent report 4.14 Reporting Principles 102-52 Reporting cycle 4.14 Reporting Principles 102-53 Contact point for questions regarding the re- port “Contact us” at www.edpr.com 102-54 Claims of reporting in accordance with the GRI Standards 4.14 Reporting Principles 102-55 GRI content index 4. Sustainability - Annex II - GRI Content Index 102-56 External assurance 4.14 Reporting Principles MATERIAL TOPICS Climate Change GRI 103: Manage- ment Approach 2016 103-1 Explanation of the material topic and its boundary 2.1 Business Environment 103-2 The management approach and its compo- nents 3.1.1 Operational Performance; 3.5 Natural Capital 103-3 Evaluation of the management approach 3.5 Natural Capital GRI 201: Economic Performance 2016 201-2 Financial implications and other risks and opportunities due to climate change 4.2 Climate Change GRI 302: Energy 2016 302-1 Energy consumption within the organisation 4.2 Climate Change 302-4 Reduction of energy consumption 4.2 Climate Change GRI 305: Emissions 2016 305-1 Direct (Scope 1) GHG emissions 4.2 Climate Change 305-2 Energy indirect (Scope 2) GHG emissions 4.2 Climate Change 305-3 Other indirect (Scope 3) GHG emissions 4.2 Climate Change 305-5 Reduction of GHG emissions 4.2 Climate Change

153 GRI STANDARD DISCLOSURES CHAPTER GRI EU EU1 Installed capacity, broken down by primary energy source and by regulatory regime 4.2 Climate Change EU2 Net energy output broken down by primary energy source and by regulatory regime 4.2 Climate Change Economic Business Sustainability GRI 103: Manage- ment Approach 2016 103-1 Explanation of the material topic and its boundary 2.2 Strategy 103-2 The management approach and its compo- nents 2.2.2 Value; 2.2.3 Excellence 103-3 Evaluation of the management approach 3.1.2 Financial Performance GRI 201: Economic Performance 2016 201-1 Direct economic value generated and distrib- uted 4.3 Economic Business Sustainability Health & Safety GRI 103: Manage- ment Approach 2016 103-1 Explanation of the material topic and its boundary 3.4.1 Guarantee the highest health & safety stand- ards 103-2 The management approach and its compo- nents 3.4.1 Guarantee the highest health & safety stand- ards 103-3 Evaluation of the management approach 3.4.1 Guarantee the highest health & safety stand- ards GRI 403: Occupa- tional Health and Safety 2016 403-1 Occupational health and safety manage- ment system 4.4 Health & Safety 403-2 Types of injury and rates of injury, occupa- tional diseases, lost days, and absenteeism, and number of work-related fatalities 4.4 Health & Safety 403-3 Occupational health services 4.4 Health & Safety 403-4 Worker participation, consultation, and com- munication on occupational health and safety 4.4 Health & Safety 403-5 Worker training on occupational health and safety 4.4 Health & Safety 403-6 Promotion of worker health 4.4 Health & Safety 403-7 Prevention and mitigation of occupational health and safety impacts directly linked by business relationships 4.4 Health & Safety 403-9 Work-related injuries 4.4 Health & Safety 403-10 Work-related ill health 4.4 Health & Safety GRI EU EU17 Days worked by contractor and subcontrac- tor employees involved in construction and O&M activities 4.4 Health & Safety EU25 Number of injuries and fatalities to the public involving company assets, including legal judgements, settlements and pending legal cases of diseases 4.4 Health & Safety People Management GRI 103: Manage- ment Approach 2016 103-1 Explanation of the material topic and its boundary 3.2 Human Capital 103-2 The management approach and its compo- nents 3.2 Human Capital

154 GRI STANDARD DISCLOSURES CHAPTER 103-3 Evaluation of the management approach 3.2 Human Capital GRI 401: Employ- ment 2016 401-1 New employee hires and employee turnover 4.5 People Management 401-2 Benefits provided to full-time employees that are not provided to temporary or part-time employees 4.5 People Management 4.5 People Management GRI 402: Labour / Management Rela- tions 2016 402-1 Minimum notice periods regarding opera- tional changes 4.5 People Management 4.5 People Management GRI 404: Training and Education 2016 404-1 Average hours of training per year per em- ployee 4.5 People Management 404-2 Programs for upgrading employee skills and transition assistance programs 4.5 People Management 404-3 Percentage of employees receiving regular performance and career development re- views 4.5 People Management 4.5 People Management GRI 405: Diversity and Equal Oppor- tunity 2016 405-1 Diversity of governance bodies and employ- ees 4.5 People Management 405-2 Ratio of basic salary and remuneration of women to men 4.5 People Management 4.5 People Management GRI EU EU15 Percentage of employees eligible to retire in the next 5 and 10 years broken down by job category and by region 4.5 People Management Corporate Governance GRI 103: Manage- ment Approach 2016 103-1 Explanation of the material topic and its boundary 1.3 Organisation 103-2 The management approach and its compo- nents 1.3 Organisation 103-3 Evaluation of the management approach 1.3 Organisation Innovation GRI 103: Manage- ment Approach 2016 103-1 Explanation of the material topic and its boundary 3.7 Innovation Capital 103-2 The management approach and its compo- nents 3.7 Innovation Capital 103-3 Evaluation of the management approach 3.7 Innovation Capital Community Engagement GRI 103: Manage- ment Approach 2016 103-1 Explanation of the material topic and its boundary 3.4.3 Supporting communities 103-2 The management approach and its compo- nents 3.4.3 Supporting communities 103-3 Evaluation of the management approach 3.4.3 Supporting communities GRI 202: Market Presence 2016 202-2 Proportion of senior management hired from the local community 4.8 Community Engagement

155 GRI STANDARD DISCLOSURES CHAPTER GRI 203: Indirect Economic Impacts 2016 203-1 Infrastructure investments and services sup- ported 4.8 Community Engagement 203-2 Significant indirect economic impacts 4.8 Community Engagement GRI 411: Rights of Indigenous People 2016 411-1 Incidents of violations involving rights of in- digenous peoples 4.8 Community Engagement GRI 413: Local Communities 2016 413-1 Operations with local community engage- ment, impact assessments, and development programs 4.8 Community Engagement 413-2 Operations with significant actual and po- tential negative impacts on local communi- ties 4.8 Community Engagement Suppliers Management GRI 103: Manage- ment Approach 2016 103-1 Explanation of the material topic and its boundary 3.3 Supply Chain Capital 103-2 The management approach and its compo- nents 3.3 Supply Chain Capital 103-3 Evaluation of the management approach 3.3 Supply Chain Capital GRI 204: Procure- ment Practices 2016 204-1 Proportion of spending on local suppliers 4.9 Suppliers Management GRI 308: Supplier Environmental As- sessment 2016 308-2 Negative environmental impacts in the sup- ply chain and actions taken 4.9 Suppliers Management GRI 414: Supplier Social Assessment 2016 414-2 Negative social impacts in the supply chain and actions taken 4.9 Suppliers Management Environmental Management GRI 103: Manage- ment Approach 2016 103-1 Explanation of the material topic and its boundary 3.5 Natural Capital 103-2 The management approach and its compo- nents 3.5 Natural Capital 103-3 Evaluation of the management approach 3.5 Natural Capital GRI 304: Biodiver- sity 2016 304-1 Operational sites owned, leased, managed in, or adjacent to, protected areas and areas of high biodiversity value outside protected areas 4.10 Environmental Management 304-2 Significant impacts of activities, products, and services on biodiversity 4.10 Environmental Management 304-3 Habitats protected or restored 4.10 Environmental Management GRI 306: Effluents and Waste 2020 306-1 Waste generation and significant waste-re- lated impacts 4.10 Environmental Management 306-2 Management of significant waste-related impacts 4.10 Environmental Management 306-3 Waste generated 4.10 Environmental Management 306-4 Waste diverted from disposal 4.10 Environmental Management 306-5 Waste directed to disposal 4.10 Environmental Management

156 GRI STANDARD DISCLOSURES CHAPTER Communication & Transparency GRI 103: Manage- ment Approach 2016 103-1 Explanation of the material topic and its boundary 1.1.5 Stakeholder focus 103-2 The management approach and its compo- nents 1.1.5 Stakeholder focus 103-3 Evaluation of the management approach 1.1.5 Stakeholder focus GRI 201: Economic Performance 2016 201-4 Financial assistance received from govern- ment 4.11 Communication and Transparency GRI 206: Anti-com- petitive Behavior 2016 206-1 Legal actions for anti-competitive behavior, anti-trust, and monopoly practices 4.11 Communication and Transparency GRI 307: Environ- mental Compliance 2016 307-1 Non-compliance with environmental laws and regulations 4.11 Communication and Transparency GRI 415: Public Pol- icy 2016 415-1 Political contributions 4.11 Communication and Transparency GRI 419: Socioeco- nomic Compliance 2016 419-1 Non-compliance with laws and regulations in the social and economic area 4.11 Communication and Transparency GRI 207: Tax 2019 207-1 Approach to tax 4.11 Communication and Transparency 207-2 Tax governance, control, and risk manage- ment 4.11 Communication and Transparency 207-3 Stakeholder engagement and management of concerns related to tax 4.11 Communication and Transparency 207-4 Country-by-country reporting 4.3 Economic Business Sustainability, “Profit before income tax”; 4.5 People Management, GRI 102-8; 4.11 Communication and Transparency; 2021 Consolidated Annual Accounts - Note 1; 2021 Consolidated Annual Accounts - Annex I; Reporting requirements iv, v, vii, ix and x of GRI 207-4 are omitted as the information is not availa- ble with the requested detail by tax jurisdiction. EDPR will work on obtaining the required details in a near future. Digital Transformation GRI 103: Manage- ment Approach 2016 103-1 Explanation of the material topic and its boundary 3.6 Digital Capital 103-2 The management approach and its compo- nents 3.6 Digital Capital 103-3 Evaluation of the management approach 3.6 Digital Capital

157 GRI STANDARD DISCLOSURES CHAPTER Ethics and Compliance GRI 103: Manage- ment Approach 2016 103-1 Explanation of the material topic and its boundary 1.3.4 Integrity and Ethics 103-2 The management approach and its compo- nents 1.3.4 Integrity and Ethics 103-3 Evaluation of the management approach 1.3.4 Integrity and Ethics GRI 205: Anti-cor- ruption 2016 205-1 Operations assessed for risks related to cor- ruption 4.13 Ethics and Compliance 205-2 Communication and training on anti-corrup- tion policies and procedures 4.13 Ethics and Compliance 205-3 Confirmed incidents of corruption and ac- tions taken 4.13 Ethics and Compliance GRI 406: 406-1 Incidents of discrimination and corrective ac- tions taken 4.13 Ethics and Compliance Non-discrimination 2016 GRI 407: 407-1 Operations and suppliers in which the right to freedom of association and collective bar- gaining may be at risk 4.13 Ethics and Compliance Freedom of Associ- ation and Collective Bargaining 2016 GRI 408: Child La- bour 2016 408-1 Operations and suppliers at significant risk for incidents of child labour 4.13 Ethics and Compliance GRI 409: Forced or Compulsory Labour 2016 409-1 Operations and suppliers at significant risk for incidents of forced or compulsory labour 4.13 Ethics and Compliance

PricewaterhouseCoopers Auditores, S.L., Torre PwC, Pº de la Castellana 259 B, 28046 Madrid, España Tel.: +34 915 684 400 / +34 902 021 111, Fax: +34 915 685 400, www.pwc.es 1 R. M. Madrid, hoja 87.250-1, folio 75, tomo 9.267, libro 8.054, sección 3ª Inscrita en el R.O.A.C. con el número S0242 - CIF: B-79 031290 Independent verification report To the shareholders of EDP Renováveis, S.A.: Pursuant to article 49 of the Code of Commerce, we have verified, with the scope of a limited assurance engagement, the accompanying Statement of Non-Financial Information (“SNFI”) for the year ended 31 December 2021 of EDP Renováveis, S.A. and its subsidiaries (hereinafter “EDPR” or the Group) which forms part of EDPR’s Consolidated Management Report. The content of the Consolidated Management Report includes information additional to that required by current mercantile legislation in relation to non-financial information, which has not been covered by our verification work. In this respect, our work was limited solely to verifying the information identified in the tables: Annex I: “Statement of Non-Financial Information” and Annex II: “GRI content index”. Responsibility of the EDPR’s directors The preparation of the SNFI included in EDPR’s Consolidated Management Report and the content thereof, are the responsibility of the directors of EDP Renováveis, S.A. The SNFI has been drawn up in accordance with the provisions of current mercantile legislation and in accordance with the criteria of the Sustainability Reporting Standards of the Global Reporting Initiative (“GRI Standards”) described in line with the Essential Option and the Electric Utilities Industry Supplement in accordance with the details provided for each matter in the tables: Annex I: “Statement of Non-Financial Information” and Annex II: “GRI content index”. This responsibility also includes the design, implementation and maintenance of the internal control considered necessary to allow the SNFI to be free from material misstatement due to fraud or error. The directors of EDP Renováveis, S.A. are also responsible for defining, implementing, adapting and maintaining the management systems from which the information required to prepare the SNFI is obtained. Our independence and quality control We have complied with the independence and other ethical requirements of the International Code of Ethics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board for Accountants (IESBA Code) which is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour. Our firm applies International Standard on Quality Control 1 (ISQC 1) and accordingly maintains a comprehensive system of quality control, including documented policies and procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements. The engagement team has consisted of professionals specialising in Non-financial Information reviews, specifically in information on economic, social and environmental performance.

2 Our responsibility Our responsibility is to express our conclusions in a limited assurance verification report based on the work we have performed. We carried out our work in accordance with the requirements set out in the current International Standard on Assurance Engagements 3000 Revised, “Assurance Engagements other than Audits or Reviews of Historical Financial Information” (ISAE 3000 Revised) issued by the International Auditing and Assurance Standards Board (IAASB) of the International Federation of Accountants (IFAC) and in the Guidelines for verification engagements of the Statement of Non- Financial Information issued by the Spanish Institute of Auditors (“Instituto de Censores Jurados de Cuentas de España”). In a limited assurance engagement, the procedures performed vary in nature and timing, and are less extensive than, those carried out in a reasonable assurance engagement and accordingly, the assurance provided is also lower. Our work consisted of posing questions to management as well as to the various units of ABC that were involved in the preparation of the SNFI, of the review of the processes for compiling and validating the information presented in the SNFI, and in the application of certain analytical procedures and review procedures on a sample basis, as described below: x Meetings with EDPR personnel to understand the business model, policies and management approaches applied, principal risks relating to these matters and to obtain the necessary information for the external review. x Analysis of the scope, relevance and integrity of the content of the SNFI for the year 2021, based on the materiality analysis carried out by EDPR and described in 4.1. “Materiality assessment” of the Consolidated Management Report, taking into account the content required by current mercantile legislation. x Analysis of the procedures used to compile and validate the information presented in the SNFI for the year 2021. x Review of information relating to risks, policies and management approaches applied in relation to material matters presented in the SNFI for the year 2021. x Verification, by means of sample testing, of the information relating to the content of the SNFI for the year 2021 and that it was adequately compiled using data provided by the sources of the information. x Obtaining a management representation letter from the directors and management. Conclusion Based on the procedures performed in our verification and the evidence we have obtained, nothing has come to our attention that causes us to believe that the SNFI of EDPR, , for the year ended 31 December 2021 has not been prepared, in all material respects, in accordance with the provisions of current mercantile legislation and in accordance with the criteria of the GRI Standards described in line with the Essential Option and the Electric Utilities Industry Supplement in accordance with the details provided for each matter in the tables: Annex I: “Non-financial information statement” and Annex II: “GRI content index”.

3 Emphasis of matter Regulation (EU) 2020/852 of the European Parliament and of the Council of June 18, 2020, relating to the establishment of a framework to facilitate sustainable investments, establishes the obligation to disclose information on the manner and extent to which the company's activities are associated with economic activities considered to be environmentally sustainable in relation to the objectives of climate change mitigation and adaptation to climate change for the first time for the year 2021, provided that the Statement of Non-Financial Information is published as from 1 January 2022. Consequently, comparative information on this matter has not been included in the accompanying SNFI. In addition, information has been included in respect of the criteria that the directors of EDPR have chosen to apply that, in their opinion, best allow compliance with the new obligation and that are defined in 4.3. “Economic business sustainability” of the accompanying SNFI. Our conclusion is not modified in respect of this matter. Use and distribution This report has been drawn up in response to the requirement laid down in current Spanish mercantile legislation and therefore might not be suitable for other purposes or jurisdictions. PricewaterhouseCoopers Auditores, S.L. Pablo Bascones Ilundain 16 February 2022 2022-02-16 14:05:55 ( UTC +01:00 ) 51075979V PABLO JESUS BASCONES

165 PART I - Information on shareholder struc- ture, organisation and corporate govern- ance A. Shareholder structure I. Capital structure 1. Capital structure EDP Renováveis, S.A. (hereinafter referred to as “EDP Renováveis”, “EDPR” or the “Company”) total share capital is 4,802,790,810€, since the Share capital increase in April 2021, where 88,250,000 new shares were issued at a subscription price of EUR 17.00 per share for a share premium of EUR 12.00. EDPR total share capital is composed of 960,558,162 shares with a nominal value of EUR 5.00 each, fully paid. All these shares are part of a single class and series and are admitted to trading on the Euronext Lisbon regulated market. Codes and tickers of EDP Renováveis SA share: ISIN:ES0127797019 LEI:529900MUFAH07Q1TAX06 Bloomberg Ticker (Euronext Lisbon): EDPR PL Reuters RIC:EDPR.LS EDPR main shareholder is EDP – Energias de Portugal, S.A., through EDP – Energias de Portugal, S.A. Sucursal en España (hereinafter referred as “EDP”), with 74.98% of share capital and voting rights. Excluding EDP, EDPR shareholders comprise more than 30,000 institutional and private investors spread across more than 30 countries with main focus in the United States and United Kingdom. Institutional Investors represent about 96% of Company shareholders (ex-EDP Group), mainly investment funds and socially responsible investors (“SRI”), while Private Investors, mostly Portuguese, stand for the remaining. For further information about EDPR shareholder structure please see chapter 1.3 of the Annual Report (“Organisation”). 2. Restrictions to the transferability of shares EDPR’s Articles of Association have no restrictions on the transferability of shares. 3. Own shares EDPR does not hold own shares. 4. Change of control EDPR has not adopted any measures designed to prevent successful takeover bids, nor defensive measures for cases of a change in control in its shareholder structure or agreements subject to the condition of a change in control of the Company, other than in accordance with normal practice, and therefore, has not adopted any mechanisms that imply payments or assumption of fees in the case of the transfer of control or the change in the composition of the managing body, or that could be likely to harm the free transferability of shares or shareholder assessment of the performance of the members of the managing body.

166 Notwithstanding the above, the following are normal market practice related to a potential change of control: • In the case of financing of certain wind farm projects, lenders have the right to approve change in control at the borro wer if the later ceased to be controlled, directly or indirectly by EDPR. • In the case of guarantees provided by EDP Group companies, if EDP directly or indirectly ceases to have the majority of EDPR then EDP is no longer obliged to provide such services or guarantees. The relevant subsidiaries will be obliged to provide for the cancellation or replacement of all outstanding guarantees within approximately sixty (60) days of the change of control event. • In the cases of intra-group services agreements and according to the Framework Agreement signed between EDP Ren- ováveis S.A. and EDP Energias de Portugal S.A., the contracts will maintain their full force as long as (i) EDP maintains its share capital above 50% or the right to exercise directly or indirectly more than 50% of voting rights on EDPR’s share capital, or (ii) even if the share capital of EDP or its voting rights are below 50%, but more than half of the Members of the Board are elected through an EDP proposal. 5. Special agreements regime EDPR does not have a special system for the renewal or withdrawal of counter measures for the restriction on the number of votes capable of being held or exercised by only one shareholder individually or together with other shareholders. 6. Shareholders’ agreements The Company is not aware of any shareholders’ agreement that may result in restrictions on the transfer of securities or voting rights. II. Shareholdings and bonds held 7. Qualified holdings Qualifying holdings in EDPR are subject to the Spanish Law, which regulates the criteria and thresholds of the shareholder’s ownerships. The table below includes the information about the qualifying holdings of EDPR and their voting rights as of December 31 st , 2021: SHAREHOLDER SHARES %CAPITAL %VOTING RIGHTS EDP – ENERGIAS DE PORTUGAL, S.A. – SUCURSAL EN ESPAÑA 720,191,372 74.98% 74.98% BLACKROCK INC. 35,042,710 3.65% 3.65% Total qualified holdings 755,234,082 78.62% 78.62% EDP detains 74.98% of EDPR capital and voting rights, through EDP – Energias de Portugal, S.A. – Sucursal en España. As of December 31 st , 2021, EDPR’s shareholder structure consisted in a total qualified shareholding of 78.62%, corresponding to EDP Group and Blackrock Inc., with 74.98% and 3.65% of the capital, respectively. 8. Shares held by the Members of the Management and Supervisory Boards As of December 31 st 2021, none of the members of the Board of Directors /Delegated Committees of the Company directly or indirectly own EDPR shares.

167 9. Powers of the Board of Directors The Board of Directors is vested with the broad-ranging powers of administration, management, and governance of the Company, with no other limitations besides the powers which are expressly assigned to the General Shareholders’ Meetings in the Company’s Articles of Association (specifically in article 13) or in the applicable law. In this regard, the powers of the Board include, without limitation 1 to: • Acquire on lucrative or onerous title basis personal and real property, rights, shares and interests that may suit the Com- pany; • Sell and mortgage or charge personal and real property, rights, shares and interests of the Company and cancel mort- gages and other rights in rem; • Negotiate and enter into loans and credit operations that it may deem appropriate; • Negotiate and formalize all sort of acts and contracts with public entities or private persons; • Exercise civil and criminal actions and all further actions to be undertaken by the Company, representing it before gov- ernmental officers, authorities, corporations, governing, administrative, administrative-economic, administrative-litiga- tion and judicial courts, labour courts and the labour sections of the Supreme Court and of the High Courts of the Auton- omous Communities, with no limitations whatsoever, including before the European Court of Justice, and in general before the Government, in all its levels and hierarchies; to intervene or promote, follow and terminate, through all procedures and instances, the processes, court sections or proceedings; to accept decisions, to file any kind of appeal, including the cassation one and other extraordinary appeals, to discontinue or confess, to agree an early termination of a proceeding, to submit litigious questions to arbitration judges, and to carry out all sorts of notices and requirements and to grant a power of attorney to Court Representatives and other representatives, with the case-related powers and the powers which are usually granted to litigation cases and all the special powers applicable, and to revoke such powers; • Agree the allotment of interim dividends; • Call and convene the General Meetings and submit to them the proposals that it deem appropriate; • Direct the Company and organize its operations and exploitations by acknowledging the course of the Company busi- nesses and operations, managing the investment of funds, making extraordinary amortizations of bonds and realizing anything that it is considered appropriate for the best achievement of the Company’s objectives; • Freely appoint and dismiss Directors and other Company’s technical and administrative personnel, defining their respon- sibilities and remuneration; • Agree any changes of the registered office’s address within the same municipal area; • Incorporate legal entities as stipulated under the law; assigning and investing all sorts of assets and rights, as well as entering merger and cooperation agreements, association, grouping and temporary union agreements between compa- nies or business and joint property agreements, and agreeing their alteration, transformation and termination; Likewise, the General Shareholders’ Meeting held in March 26 th , 2020, approved the delegation to the Board of Directors of the power to issue in one or more occasions both: • Fixed income securities or other debt instruments of analogous nature; • Fixed income securities or other type of securities (warrants included) convertible or exchangeable into EDP Renováveis, S.A. shares, or that recognize at the Board of Directors’ discretion the right of subscription or acquisition of shares of EDP Renováveis, S.A. or of other companies, up to a maximum amount of three hundred million Euros (EUR 300,000,000) or its equivalent in other currency. As part of such delegation, the General Shareholder’s Meeting delegated into the Board of Directors the power to increase the share capital up to the necessary amount to execute the related tasks above. Additionally, it was also approved to au- thorize the Board of Directors for the acquisition of own shares by the Company and/or the affiliate companies up to the maximum limit of 10% of the subscribed share capital. These delegations may be exercised by the Board of Directors within a period of five (5) years since the proposal was approved, and within the limits provided under the law and the By-Laws. 1 This list has a merely indicative nature, as the Board of Directors may perform all further powers expressly granted to the Board in the Articles or in the applicable law.

168 The General Shareholders’ Meeting may also delegate to the Board of Directors the power to implement an adopted decision to increase the share capital, indicating the date or dates of its implementation and establishing any other conditions that were not specified by the General Shareholders’ Meeting. The Board of Directors may use this delegation wholly or partially, and may also decide not to perform it in accordance with the situation and conditions of the Company, the market, or any particularly relevant events or circumstances that justify such decision - of which the General Shareholders’ Meeting must be informed at the end of the time limit or limits for adopting and performing the decision. Additionally, in compliance with its personal law and Company’s internal regulations, some functions of the Board of Direc- tors are non- delegable and, as such, have to be performed at this level, which are the following 2 : • Election of the Chairperson of the Board of Directors; • Appointment of Directors by co-option; • The supervision of the effective functioning of any committees that it may have incorporated and of the performance of any delegated bodies or managers it may have designated; • The determination of the company’s general policies and strategies; • The authorization or waiver of the obligations arising from the Directors duty of loyalty; • Its own organization and functioning; • The formulation of the annual accounts and its submission to the General Shareholders’ Meeting; • The preparation of any type of report required from the board by law, when the underlying transaction to which the report refers cannot be delegated; • The appointment and removal of the delegated directors (“Joint Directors”) of the company, as well as the determination of their contract conditions; • The appointment or removal of the members of the Management Team, as well as the determination of their basic con- tract conditions, including remuneration; • Decisions relating to directors’ remuneration, within the statutory framework and, if such is the case, within the remuner- ation policy approved by the General Shareholders’ Meeting; • Calling the General Shareholders’ Meeting and preparing the agenda and proposed resolutions; • The policy relating to own shares; • Any powers that the General Shareholders’ Meeting has vested to the board of directors, unless the board has explicitly authorized that they may be sub- delegated; • The approval of the strategic or business plan, annual management objectives and budget, investment and financing policies, social sustainability policy and the dividends policy; • The determination of the risk control and management policy, including those related to tax matters, and the supervision of the internal information and control systems; • The determination of the company’s corporate governance policy as well as the one applicable to the group of which the company is the parent entity; its organization and functioning and, in particular, the approval and amendment of its own regulations; • The approval of the financial information that the company must disclose periodically; • The definition of the structure of the group of companies of which the company is the parent entity; • The approval of all type of investments and transactions that due to their high amount or special nature are considered as strategic or that may imply a financial risk, unless their approval falls under the General Shareholders’ Meeting. For the purposes of this paragraph, the following transactions shall be considered as included: i. The purchase and sale of assets, rights or shareholdings by EDPR, included in the business plan approved by the Board of Directors (the Business Plan), whenever their [A] (i) book value, or (ii) market value assessed in terms of equity value, or (iii) the transaction price, or (iv) the initial investment value, is over one hundred and 2 This list was updated by approval of the Board of Directors on its session held on July 27 th , 2021, in order to align them the new Spanish Companies Act and the thresholds implemented in EDP Group.

169 fifty million Euros (150,000,000€) 3 (at present value), or [B] initial investment value consumes the total amount foreseen Business Plan for these type of transactions, whenever their (i) book value, or (ii) its market value assessed in terms of equity value, or (iii) the transaction price, or (iv) the initial investment value, is over sev- enty-five million Euros (75,000,000€) (at present value); ii. Agreements regarding (i) bank loans and (ii) credit facilities in an amount above two hundred and fifty million Euros (250.000.000€), provided that, as a result of such agreements, EDPR’s overall indebtedness exceeds the amount set forth in the approved annual budget; iii. Total or partial opening or closure of establishments, as well as extensions or reductions of its activity, provided that, according to a reasonable estimate of the executive directors, they result in a change in the turnover or in the assets of the Company of over seventy-five million Euros (75,000,000€); iv. Other operations and relevant transactions, and in particular, those excluded from the scope of the Business Plan whenever their (i) book value or (ii) market value assessed in terms of equity value, or (iii) the transaction price, or (iv) the initial investment value is above seventy-five million Euros (75,000,000€) 4 (at present value); v. Any operations not directly related to the energy sector which amount is above twenty million Euros (20,000,000€); vi. Setting up or terminating strategic partnerships or any other forms of enduring cooperation, in an amount above twenty million Euros (20,000,000€). 5 • The approval of the creation or acquisition of shares in special purpose entities or registered in countries or territories considered tax havens, as well as any other transaction or operation of a similar nature that, due to its complexity, may undermine the transparency of the company and its group; • The approval of Related Party Transactions, unless: i. its approval corresponds to the Shareholders’ Meeting; or ii. transactions (i) between companies of the same group and that are performed in the ordinary management of the company and under market conditions, or (ii) closed under standardized conditions and wholesale ap- plied to a high number of clients, and at prices or tariffs generally established by the supplier of the good or service, the amount of which does not exceed the 0,5% of the net annual company turnover ; which will be approved by the Audit, Control and Related Party Transactions Committee. • The determination of the company’s fiscal strategy; • The supervision of the elaboration and submission process of the financial information and the management report, that will include as the case may be the required non-financial information; and the submission of the recommendations or proposals presented to the Board aimed to protect its integrity. Should be noted that in case of duly justified urgency situations, or when considered convenient in an interim period between meetings of the Board of Directors, the decisions related to the reserved matters referred above may be adopted by the delegated bodies or individuals, and will be ratified at the first Board meeting to be held after the adoption of the decision. As per the governance model adopted, EDPR has to comply with the regulation established under the Spanish Companies Act, which among others, as mentioned above, stablishes that the approvals of the strategic lines and policies of the com- pany are a reserved matters of the Board of Directors that cannot be delegated, and that shall be necessarily approved at this level. Therefore, in EDPR the assessment and issuance of the opinion regarding the strategic lines and risk policies of the Company is not assigned by a Supervisory Board (as EDPR does not have this governing Body) but in line with its applicable law, is assumed by its Board of Directors. 3 For the purposes of this provision, the amounts of the respective financial guarantees shall be considered in aggregate. 4 For the purposes of this provision, the amounts of the respective financial guarantees shall be considered in aggregate. 5 For the purposes of this provision, partnerships or other forms of cooperation which do not have a strategic and lasting character, namely regarding cases where such partnerships are limited to specific transactions in predominantly commercial and operational matters or which relate to the Company’s core activities.

170 10. Significant business relationships between the holders of qualifying holdings and the Company Information on any significant business relationships between the holders of qualifying holdings and the Company is de- scribed on topic 90 of this Chapter 5 of the Annual Report. B. Corporate Boards and Committees I. General Shareholders’ Meeting A) Composition of the Board of the General Meeting 11. Board of the General Shareholders’ Meeting On the General Meeting of April 8 th , 2014, it was approved to appoint José António de Melo Pinto Ribeiro as the Chairperson of EDPR’s Shareholders’ Meeting for a three-year (3) term; who was re-elected on the General Shareholders’ Meeting held on April 6 th ,2017 for a last mandate of three-year (3) term; being his office extended until the first General Shareholders’ Meeting following of the end of this office term, which was finally held on February 22 nd , 2021. Based on the proposal submitted by the Appointments, Remunerations and Corporate Governance Committee 6 , and given the expiration of the mandate of José António de Melo Pinto Ribeiro as Chairperson of the Shareholders’ Meeting, in 2021 it was decided to adopt the general practice followed under the personal law of the Company (Spanish one) that allows the Shareholders’ Meeting to be chaired by the Chairperson of the Board of Directors. Therefore, at the Board of Directors meet- ing held in January 19 th , it was approved to submit the related Bylaws amendment proposal for the approval of the Extraor- dinary Shareholders’ Meeting held in February 22 nd ,2022, stating that the Chairmanship of the General Meeting will corre- spond to the Chairperson of the Board of Directors and, in the absence thereof, to the Vice-Chairperson (in the absence of both of them, it will be assigned to the oldest director). It was also stated that the Chairperson of the Board of Directors, or whoever substitutes him, together with the remaining members of the Board, shall constitute the Board of the General Share- holders’ Meeting, and its Secretary will be the Secretary of the Board of Directors. Therefore, the Ordinary Shareholders’ Meeting held on April 12 th , 2021, was chaired by the Chairperson of the Board of Directors (who in that moment was Miguel Stilwell d’ Andrade). As such, since April 12 th , 2021, and as of December 31 th , 2021 the role of Chairperson of the Shareholders’ Meeting corre- sponds to António Gomes Mota, who was appointed as member of the Board for a three-year (3) term by the General Share- holders’ Meeting held in April 12 th , 2021, and for the position of Chairperson of the Board of Directors on its meeting subse- quently held on the same date. The Secretary of the Board of Directors since December 2007 and until November 2 nd , 2021 was Emilio García-Conde Nor- iega, and therefore, he assumed also the role of Secretary of the two General Shareholders’ Meetings held in 2021. At the Board of Directors meeting held on November 2 nd 2021, Emilio García-Conde Noriega presented the resignation from his position as Secretary of the Board of Directors of EDP Renováveis S.A., and in order to fill this vacancy, following the proposal of the Appointments, Remunerations and Corporate Governance Committee, the Board of Directors unanimously agreed to appoint María González Rodríguez (Vice-Secretary of the Board of Directors since 2019) as Secretary non-member of the Board of Directors of EDPR, and to appoint Borja Pérez Dapena as new Vice secretary non-member of the Board of Directors of EDPR. The Secretary of the Board of Directors’ mandate does not have an end of term date according to the Spanish Companies Law since is not a Board Director. Should be also highlighted that accordance with article 180 of the Spanish Companies’ Law, all the Board Members are obliged to attend the General Meetings. 6 On February 19 th , 2021, the Board of Directors of EDPR approved to adjust the name of this Committee to refer the assumption of the Corporate Governance functions.

171 The Chairperson of the General Shareholders’ Meeting of EDPR has at his disposal, the necessary human and logistical resources required for the performance of his duties. Therefore, in addition to the resources provided by the Company’s General Secretary, in 2021 the Company hired a specialized entity to give support to the meetings and to collect, process and count the votes submitted by the shareholders on the Extraordinary Shareholders’ Meeting held on February 22 nd and on the Ordinary Shareholders’ meeting held on Abril 12 th . B) Exercising the right to vote 12. Voting rights restrictions Each EDPR share entitles its holder to one vote. EDPR’s Articles of Association have no restrictions regarding voting rights. 13. Voting rights EDPR’s Articles of Association have no reference to a maximum percentage of voting rights that may be exercised by a single shareholder or by shareholders that are in any relationship. All shareholders, regardless the number of shares owned, may attend to the General Shareholders’ Meeting and request the information or explanations that they consider relevant regard- ing the matters included in the Agenda of the convened meeting, and are entitled as shareholders of the Company, to take part in its deliberations and to participate in its voting process. The Board of Directors approves a Shareholder’s Guide for each General Shareholders’ Meeting, detailing among other mat- ters, the procedure and requirements for the submission through mail and electronic communication of voting forms. This Guide was made available at the Company’s website (www.edpr.com). As informed in the related Notice and in the corre- sponding Shareholders’ Guide, in order to exercise their right to attend, the shareholders must have the ownership of their shares duly registered in the Book Entry Account at least five (5) days prior to the date of the General Shareholders’ Meeting. Any shareholder may be represented at the General Shareholders’ Meeting by a third party by means of a revocable Power of Attorney (even if such representative is not a shareholder). The Board of Directors may require shareholders’ Power of Attorney to be in the Company’s possession at least two (2) days in advance, indicating the name of the representative. These Powers of Attorney shall be granted specifically for each General Shareholders’ Meeting and can be evidenced in writing or by remote means of communication such as email or post. According to the applicable law and the Company’s Articles of Association, the notice of EDPR’s General Shareholders’ Meetings is published in the Official Gazette of the Commercial Registry and on the Company’s website at least thirty (30) days prior to the meeting date. Likewise, the Notice of the General Shareholders’ Meeting is published at the website of Sociedade Gestora de Sistemas de Liquidação e de Sistemas Centralizados de Valores Mobiliários, S.A (“Interbolsa”) and on the website of the Comissão do Mercado de Valores Mobiliários (“CMVM”) – at www.cmvm.pt - and of the Comisión Nacional del Mercado de Valores (“CNMV”) – at www.cnmv.es. Simultaneously with the publication of the meeting Notice, the sup- porting documentation in relation to the General Shareholders’ Meeting is published on the CMVM website. Likewise, as soon as the notice of the meeting is formally published, the following information and documentation related to the General Share- holders’ Meeting is made available at the Company’s website (www.edpr.com): I. the notice of the General Shareholders’ Meeting; II. the total number of shares and voting rights at the date of the Meeting notice; III. the template letter expressing the intention to attend the Meeting, the template of the letter of representation and the template of the ballot to be sent by mail, and also, the links to the electronic platforms that the Company provides for the telematic submission of the intention to attend and the voting on the topics included in the Agenda; IV. the full texts of the proposed resolutions (included when received if such were the case, those proposed by shareholders) and related supporting documentation, that will be submitted to the General Shareholders’ Meet- ing for approval;

172 V. The Shareholders’ Guide; VI. The consolidated texts in force (Articles of Association and the other applicable regulations). In 2021, the Company included the English and Portuguese versions of the information and documents related to the Share- holders´ Meetings on its website (www.edpr.com) with the notice of the meetings, being the Spanish version of the docu- ments the one that prevailed. Shareholders may vote on the topics included on the Shareholders’ Meeting Agenda, in person (including by means of the corresponding representative) at the meeting, by ordinary mail, or by electronic communication (in this latest case, through a telematic vote platform made available at the Company’s website or sending the related filled and signed templates by email), and in any case providing the documentation indicated in the Shareholder’s Guide. Pursuant to the terms of article 15 of the Articles of Association, both electronic and mail-in votes must be received by the Company before midnight (24.00 hours) of the day before the scheduled meeting date of first call. Remote votes can be revoked subsequently by the same means used to cast them, always within the deadlines established for that purpose, or by personal attendance to the General Shareholders’ Meeting of the shareholder who casted the vote to his/her representative. Considering the health emergency resulted from the expansion of the Covid-19 during 2021 at international level, and given the exceptional measures adopted by the Spanish Government aimed to limit the virus spreading - which were particularly referred to restrictions to events with a high number of people - the Board of Directors recommended to EDPR shareholders to exercise their rights for the General Meetings held in 2021 in the safest way, particularly through the representation and vote at a distance. 14. Decisions that can only be adopted by a qualified quorum According to EDPR’s Articles of Association and as established in the law, both ordinary and extraordinary General Share- holders’ Meetings are validly constituted when first called if the shareholders, either present or represented, jointly reach at least twenty-five percent (25%) of the subscribed voting capital. On second call, the General Shareholders’ Meeting will be validly constituted regardless of the amount of the capital present or represented. Notwithstanding the above percentages, to validly approve the issuance of bonds, the increase or reduction of capital, the transformation, global assignment of assets and liabilities, merger or spin-off of the Company, the transfer of the Registered Office abroad, the elimination or limitation of pre-emptive rights of new shares and in general, any necessary amendment to the Articles of Association, in the Ordinary or Extraordinary Shareholders’ Meeting, it is required that on first call, the Share- holders, either present or represented, reach at least fifty percent (50%) of the subscribed voting capital and, on second call, at least twenty-five percent (25%) of the subscribed voting capital. In relation to the quorum required to validly approve these matters, in accordance with the Law and the Articles of Associa- tion, when the shareholders attending represent more than fifty percent (50%) of the subscribed voting capital, the above mentioned resolutions will be validly adopted by absolute majority, and in the case the shareholders attending represent between the twenty-five percent (25%) and the fifty percent (50%) – but without reaching it - the favorable vote of the two- thirds (2/3) of the present or represented capital in the General Shareholders’ Meeting will be required to approve these resolutions. EDPR has not established any mechanism that may intend to cause mismatching between the rights to receive dividends or the subscription of new securities and the voting right of each common share, and has not adopted mechanisms that hinder the passing of resolutions by shareholders, including fixing a quorum for resolutions greater than that provided by the law.

173 II. Management and supervision A) Composition 15. Corporate Governance model EDPR is a Spanish Company listed in a regulated stock exchange in Portugal. The corporate organization of EDPR is subject to its personal law and to the extent possible, to the recommendations contained in the Corporate Governance Code of the Instituto Português de Corporate Governance (“IPCG”), resulted as of the Protocol signed on October 13 th , 2017 between the Comissão do Mercado de Valores Mobiliários (“CMVM” – Portuguese Securities Market Commission) and the IPCG, which was last reviewed in July 2020. This governance code is available at the IPCG website (https://cam.cgov.pt/). As such, the Company intends to comply with both legal systems but always taking into account that its personal law is the Spanish one, and that in case of discrepancy, the aim is to adopt the law that entails more protectionism for its shareholders. The governance structure of EDPR is the one applicable under its personal law, that comprises a General Shareholders’ Meeting and a Board of Directors that represents and manages the Company. Additionally, parallelly seeks to correspond it to the so-called “Anglo-Saxon” model set forth in the Portuguese Commercial Companies Code, in which the management body is a Board of Directors, and the supervision and control duties are of the responsibility of an Audit, Control and Related Party Transactions Committee. The organization and functioning of EDPR corporate governance model aims to achieve the highest standards of corporate governance, business conduct and ethics referenced on the best national and international practices. In line with its governance model above referred, and as detailed along topics 15 - 29 of this Chapter 5 of the Annual Report and contemplated in the law and Articles of Association of the Company, as of December 31 st , 2021, EDPR does not have a Supervisory Board, but its Board of Directors has set up two Delegated Committees entirely composed by Members of the Board of Directors: the Audit, Control and Related-Party Transactions Committee and the Appointments, Remunerations and Corporate Governance Committee. This structure and its functioning, enables a fluent workflow between all levels of the governance model, as: i) each of the Delegated Committees shall report the decisions taken to the Board of Directors (drafting the minutes of each of the meetings and also providing whatever further clarification is required by the Board), and ii) as the committees Members are also members of the Board, all of them will also receive the complete information at Board of Directors level (as convening of the meetings, supporting documents and related minutes) in order to take the corresponding decisions; and all in all, thus ensuring in time and manner the access to all the information to the whole Board of Directors in order to appraise the performance, current situation and perspectives for the further development of the Company. The General Secretary constitutes the focal point in charge of the centralization of the reception and management of all the information and documents to be provided to the different Governing Bodies. This information is prepared by the different departments of EDPR, with the support when necessary of external experts, and always managed in a strictly confidential basis. Additionally, the corresponding duties and functioning procedures for the Governing Bodies (including but without limitation, the performance of their functions, their Chairmanship, periodicity of meetings, their functioning and the duties of their members) have been defined at the Articles of Association, and Board of Directors and Delegated Committees Regula- tions (which are published at the website of the Company www.edpr.com), with the aim of ensuring the adequacy in terms of time and manner of the elaboration, management and access to the information in order to procced at each level with the corresponding acknowledgements and decisions. In line with the above, the General Secretary sends the notices and sup- porting documents of the topics to be discussed in each meeting of the Board and of each of its committees to their proper discussion during the meeting. Besides the above, Secretary to the Board of Directors also provides necessary legal advise to the Governing Bodies. Finally, the minutes of all meetings are drawn and also circulated by the General Secretary.

174 The governance model of EDPR was designed to ensure the transparent and meticulous separation of duties, management and the specialization of supervision, through the following governing bodies: • General Shareholders’ Meeting • Board of Directors • Audit, Control and Related Party Transactions Committee • Appointments, Remunerations and Corporate Governance Committee The experience gained operating the Company through this structure indicates that the governance model approved by EDPR shareholders, and adopted in EDPR, is the most appropriate in line with the corporate organization of its activity, especially because it affords transparency and a healthy balance between the management and the supervisory functions. The links of the Company Website that refers to the information of the Governing Bodies and its regulations are indicated in topics 59-65 of this Chapter 5 of the Annual Report. 16. Rules for the nomination and replacement of directors According to Article 29.5 of the Company’s Articles of Association, the Appointments, Remunerations and Corporate Gov- ernance Committee is empowered by the Board of Directors to propose, advise and inform the Board regarding the appoint- ments (including by co- option), re-elections, removals and remuneration of the Board Members, as well as the composition of the committees of the Board. This committee also advises on the appointment, remuneration and dismissal of top man- agement officers. As also referred in the Company Articles of Association (Article 21) the term of office of the Board Members shall be of three (3) years and may be re-elected once or more times for equal periods. The appointment proposals shall be approved by majority. Following the best Corporate Governance practices, EDPR has analyzed and discussed about the possible criteria applicable in the selection of the new members of its Governing Bodies. As a conclusion, the Appointments, Remunerations and Corpo- rate Governance Committee and the Board of Directors resolved at their meetings held on November 2 nd , 2016, and Decem- ber 14 th , 2016 respectively, to take into account the following criteria for the selection of new members of the Governing Bodies: the education, experience in the energy sector, integrity and independence, and the diversity that such candidate may provide to the related body. Likewise, on the Shareholder’s Meeting held on March 26 th , 2020, the Board of Directors made public its particular interest in supporting the gender diversity in accordance with the Lei nº 62/2017 of August 1 st , and specifically committed at the seventh resolution of the agenda, to promote that at the first Elective Shareholders’ Meeting to be held after termination of the current term of office of the Board Members, the percentage of Board Members corresponding to the less represented gender is increased to a 33.3%. Based on the above criteria, after the previous advice of the Appointments, Remunerations and Corporate Governance Com- mittee, in 2021 the Board of Directors submitted the related proposals to the General Shareholders’ Meeting (including for sake of clarity, the curriculum vitae of the candidates, which were be publicly disclosed with the other supporting documents of the meeting in the terms referred in topic 13 above). For more information about the composition of the Board of Directors please check the Sustainability Chapter of the Annual Report at its topic GRI 405-1, and the Annex I of this Chapter 5 of the Annual Report, which includes the curricular details of its Members. Additionally, in case of a vacancy, pursuant to the Articles of Association and the Spanish Companies Law, the Board of Directors may co-opt a new Board Member, who will occupy the position until the next General Shareholders’ Meeting, to which a proposal will be submitted for the ratification of such appointment by co-option. Pursuant to the Spanish Companies Law, the co-option of Directors must be approved by absolute majority of the Directors at the Board meeting. Finally, pursuant to Article 23 of the Articles of Association and article 243 of the Spanish Companies Act, shareholders may group their shares until constituting an amount of capital equal or higher than the result of dividing the company’s capital by the number of Members of the Board, to be entitled to appoint a number of Directors equal to the result of the fraction using only whole amounts. Those shareholders making use of this power, cannot intervene in the nomination of the other members of the Board of Directors.

175 17. Composition of the Board of Directors At the meeting held in January 19 th ,2021, the Board received the resignations to the positions as Directors of Duarte Bello (with effects January 19 th , 2021), Spyridon Martinis (with effects January 19 th 2021) and Miguel Angel Prado (with effects as of the next General Shareholders’ Meeting to be held). Likewise, after the public communication of António Mexia and João Manso Neto about their non - availability to be re-elected for their positions in EDP, following the appointment by EDP’s shareholders of a new Executive Board of Directors team at EDP, and taking in consideration that both informed that they were putting their positions at the disposal of the Board, António Mexia was also ceased as Chairperson of EDPR´s Board, and João Manso Neto as Vice-Chairperson of EDPR´s Board and CEO of EDPR. In order to fulfil the referred vacant positions, (including also the seat of Francisca Guedes the Oliveira, who presented his resignation by the end of 2020), following the proposal of the Appointments, Remunerations and Corporate Governance Committee, the Board of Directors of EDPR also agreed on its meeting held on January 19 th , 2021, to approve the appoint- ment by co-option of Miguel Stilwell d’Andrade (as Executive Director); Ana Paula Marques (as Non-executive Director) and Joan Avalyn Dempsey (as Non-executive and Independent Director). Likewise, Miguel Stilwell de Andrade was appointed as Chairperson of EDPR´s Board and CEO of EDPR and Rui Teixeira, who at that moment was EDPR’s Executive Director and “Consejero Delegado,” as CFO of the company. On the Extraordinary Shareholders’ Meeting held on February 22 nd , 2021, the above-mentioned appointments by co-option were ratified, and it was approved the termination of António Mexia and João Manso Neto as members of the Board of Directors of the Company. The above changes lastly contributed to better maximize EDPR’s Board participation in the management of the company. Consequently the Executive Committee body -which included up to that date the Executive Board members- was dissolved and the remaining members were integrated in a Management Team 7 . Considering the new composition of the Board, and always taking into account the size of EDPR and the complexity of the risks intrinsic to its activity, following the proposal of the Appointments, Remunerations and Corporate Governance Commit- tee, the Board of Directors EDPR submitted to the Extraordinary Shareholders Meeting held on February 22 nd , 2021 the proposal adjust the number of Directors of the Company - that until that date was stablished in fifteen (15) - to a total of twelve (12) members, within the range included in Article 20.1 of the Articles of Association (that stablishes that the Board of Directors shall consist of no less than five (5) and no more than seventeen (17) Directors). On the Board of Directors held on February 23 rd , 2021 the resignations presented by António Nogueira Leite, Conceição Lucas, Francisco Seixas da Costa and Alejandro Fernández de Araoz to their positions as members of the Board of Directors with effects at the date of the Ordinary Shareholders’ Meeting to be held in 2021 were received. In order to fill these vacan- cies, following the proposal of the Appointments, Remunerations and Corporate Governance Committee, the Board of EDPR submitted to the Ordinary Shareholders’ meeting held on April 12 th , 2021 the proposal to approve the appointment for the statutory term of three (3) years of António Gomes Mota (as Non- Executive and Independent Director), of Miguel Nuno Simões Nunes Ferreira Setas (as Dominical Director), of Rosa García García (as Non-Executive and Independent Director) and of José Manuel Félix Morgado (as Non-Executive and Independent Director). Likewise, the Ordinary Shareholders’ Meet- ing approved the reelection for the statutory term of three (3) years of Miguel Stilwell d’Andrade (as Executive Director), Rui Manuel Rodrigues Lopes Teixeira (as Executive Director), Vera de Morais Pinto Pereira Carneiro (as Dominical Director), Ana Paula Garrido de Pina Marques (as Dominical Director), Manuel Menéndez Menéndez (as External Director), Acácio Liberado Mota Piloto (as Non-Executive and Independent Director), Allan J. Katz (as Non- Executive and Independent Director) and Joan Avalyn Dempsey (as Non- Executive and Independent Director). On the Board of Directors held after the Ordinary Shareholders’ Meeting of April 12 th , 2021, it was also approved to appoint António Gomes Mota as independent Chairperson of EDPR’s Board and Miguel Stilwell d’Andrade as Vice-Chairperson; as well as to appoint Miguel Stilwell d’Andrade as CEO and of Mr. Rui Teixeira as CFO of EDPR. 7 Detailed information regarding EDPR’s Management Team functions and composition has been included in topic 21 of this Chapter 5 of the Annual Report.

176 As a result of the above referred resolutions, as of 31 st December 2021, the Board of Directors of EDPR was composed by twelve (12) members, had an independent Chairperson; had only two executive members, had a reinforced presence of independent Directors with 50% of Board representation and had a reinforced presence of women with 33% of Board rep- resentation. Therefore, as of December 31 st , 2021, the Board of Directors was composed by the following Directors: BOARD MEMBER POSITION DATE OF FIRST APPOINTMENT DATE OF RE- ELECTION END OF TERM António Gomes Mota Independent Chairperson 12/04/2021 - 12/04/2024 Miguel Stilwell d’Andrade CEO and Executive Vice-Chairper- son 19/02/2021 12/04/2021 12/04/2024 Rui Teixeira CFO and Executive Director 29/10/2019 12/04/2021 12/04/2024 Vera Pinto Director 26/02/2019 12/04/2021 12/04/2024 Ana Paula Marques Director 19/02/2021 12/04/2021 12/04/2024 Miguel Setas Director 12/04/2021 - 12/04/2024 Manuel Menéndez Director 04/06/2008 12/04/2021 12/04/2024 Acácio Piloto Director 26/02/2013 12/04/2021 12/04/2024 Allan J. Katz Director 09/04/2015 12/04/2021 12/04/2024 Joan Avalyn Dempsey Director 19/02/2021 12/04/2021 12/04/2024 Rosa García García Director 12/04/2021 - 12/04/2024 José Manuel Félix Morgado Director 12/04/2021 - 12/04/2024 António Mexia* Director 18/03/2008 27/06/2018 - João Manso Neto* Director 4/12/2007 27/06/2018 - Duarte Bello** Director 26/09/2017 27/06/2018 - Spyridon Martinis** Director 26/02/2019 - - Miguel Ángel Prado*** Director 26/09/2017 27/06/2018 - António Nogueira Leite**** Director 26/02/2013 27/06/2018 - Francisco Seixas da Costa**** Director 14/04/2016 27/06/2018 - Conceição Lucas**** Director 27/06/2018 - - Alejandro Fernandez de Araoz**** Director 27/06/2018 - - *António Mexia and João Manso Neto, given their public notice of their lack of availability to be members of EDP, were dismissed by the Ordinary Sharehold- ers’ Meeting Held on April 12 th 2021 from their positions as Board Members. **Duarte Bello and Spyridon Martinis presented the resignation to their positions as Board Members with effects January 19 th , 2021 ***Miguel Angel Prado presented the resignation to his position as Board Member with effects February 22 nd , 2021. ****António Nogueira Leite, Conceição Lucas, Francisco Seixas da Costa and Alejandro Fernández de Araoz presented the resignation to their positions as members of the Board of Directors with effects April 12 th ,2021. At the Board of Directors meeting held on November 2 nd , 2021, Emilio García-Conde Noriega, Secretary of the Board of Directors of EDPR since December 2007, presented the resignation from this position, and in order to fill this vacancy, fol- lowing the proposal of the Appointments, Remunerations and Corporate Governance Committee, the Board of Directors of EDPR unanimously agreed to appoint María González Rodríguez (Vice-Secretary of the Board of Directors since 2019) as Secretary non-member of the Board of Directors of EDPR, and to appoint Borja Pérez Dapena as new Vice-Secretary non- member of the Board of Directors of EDPR.

177 18. Executive, Non-Executive and Independent Members of the Board The independence of the Directors is evaluated according to the Company’s personal law, and annually confirmed by each of the corresponding Directors through the signature of an independence declaration. Likewise, EDPR Board of Directors Regulations, and Article 20.2 its Articles of Association, defines independent Directors as those who are able to perform their duties without being limited by relations with the Company, its significant Shareholders, or its management officers and comply with the other legal requirements. Corporate Governance recommendations of the IPCG Code state that the number of non-executive directors should be higher than the number of executive directors, and that at least one third over the total members shall be non-executive members that also comply with the independence criteria. To this extent, and provided that the independence criteria applicable to EDPR Directors are the ones established under its personal law, from a total of fifteen (12) positions that composed of EDPR’s Board of Directors as of December 31 st , 2021, ten (10) were non-executive, being six (6) of them also independent. In ac- cordance with the law and Articles of Association, it has been established that Non- Executive Directors can only be repre- sented in the Board meetings by other Non- Executive Director. As such, it has been concluded that the composition of the Board and its Delegated Committees is suitable for the size of the company and the complexity of the risks intrinsic to its activity mainly considering that enables a separation of duties, man- agement and specialization of supervision at the same time that the non-executive and independent directors take part in all the decisions also at the Board of Directors level. Should be noted to this extend that the Board of Directors is composed by a majority of non-executive members, with a high percentage of independents; and that the Audit, Control and Related Party Transactions Committee and the Appointments, Remunerations and Corporate Governance Committee, are entirely composed by non- executive and independent members. Likewise, the executive line of the Board is centralized in two direc- tors, who are supported in the daily activity of the Company by the Members of a Management Team. Spanish law, Regulations of the Board of Directors and Company Articles of Association regulate the criteria for the incom- patibilities with the position of Director. Specifically, Article 23 of the Articles of Association, establish that the following can not be Directors: • Those who are directors of or are associated with any competitor of EDPR, or have family relations with them. In this respect a Company shall be considered as a competitor of EDPR, whenever it is engaged, if it is directly or indirectly involved in the production, storage, transport, distribution, marketing or supply of electricity or fuel gas; or also if has interests opposed to those of EDPR, or to the ones of any competitor or any of the companies in its group, and the Board members, employees, lawyers, consultants, or representatives of any of them. Under no circumstances shall companies belonging to the same group as EDPR, including abroad, be considered competitors; • Those who are in any other situation of incompatibility or prohibition under the law or EDPR’s Articles of Association. Under Spanish law, among others, are not allowed to be Directors those who are underage – under eighteen (18) years - and were not emancipated, disqualified, competitors, convicted of certain offences, or that hold certain management positions. The prevention and avoidance of the conflict of interest in the performance of the duties of the Directors of EDPR is regulated in line with the terms contained in article 229 of the Spanish Companies Law and implemented in article 28.3 of the Board of Directors Regulations, which is also applicable to the committees under article 12 of their respective regulations. This article states that in case any direct or indirect conflict of interest arose, it shall be communicated to the Board of Directors, being the Director involved obliged to abstain from intervening in the corresponding operation. Additionally, all the Board Members (and hence those of its Delegated Committees, as they are entirely composed by Members of the Board) shall annually sign an statement declaring their compliance with the terms of the requirements stated under article 229 of the Spanish Companies Law, and their commitment to notify any variation in the information declared under the statement as soon as it may occur, in order to fully comply with the loyalty duty and avoid any interference or irregularity in any decision- making process.

178 The following table includes the executive, non-executive and independent members of the Board of Directors as of Decem- ber 31 st , 2021: BOARD MEMBER POSITION António Gomes Mota Chairperson (non-Executive and Independent) Miguel Stilwell d’Andrade CEO and Executive Vice-Chairperson Rui Teixeira CFO and Executive Director Vera Pinto Non-Executive Director Ana Paula Marques Non-Executive Director Miguel Setas Non-Executive Director Manuel Menéndez Non-Executive Director Acácio Piloto Non-Executive Director and independent Director Allan J. Katz Non-Executive Director and independent Director Joan Avalyn Dempsey Non-Executive Director and independent Director Rosa García García Non-Executive Director and independent Director José Manuel Félix Morgado Non-Executive Director and independent Director 19. Professional qualifications and biographies of the Members of the Board of Directors The skills and main positions held by the members of the Board of Directors, as well as those that they currently hold in Group and non-Group companies and other relevant curricular information details are available in the Annex I of this Chapter 5 of the Annual Report. 20. Family, professional and business relationships of the Members of the Board of Directors with qualifying shareholders Qualifying Shareholders in EDPR are subject to the Spanish Law, which regulates the criteria and thresholds of the share- holders’ holdings. As of December 31 st , 2021, and as far as the Company was informed, there are no family or business relationships of Members of the Board of Directors with qualifying shareholders but only professional relationships due to the fact that some of the Members of EDPR’s Board of Directors are currently Members of the Board of Directors in other companies belonging to the same group as EDP Renováveis S.A., which are the following: • Miguel Stilwell d’ Andrade; • Rui Teixeira; • Vera Pinto; • Ana Paula Marques; • Miguel Setas; • Manuel Menéndez Menéndez

179 21. Corporate bodies and management structure As exposed in topic 15 above, the governance model of EDPR was designed to ensure the transparent and meticulous sep- aration of duties and the specialization of supervision through the following governing bodies and management structure: General Shareholders’ Meeting: which is the body in which the shareholders participate. Represents the Company with the full authority corresponding to its legal personality and has the power to deliberate, vote and adopt decisions, particularly on matters that the law and Articles of Association reserve for its decision and that must be submitted for its approval. Board of Directors: that represents and administrates the Company under the broadest powers of management, supervision and governance with no limitations other than the responsibilities expressly and exclusively granted to the jurisdiction of the General Shareholders Meeting in the Company’s Articles of Association or in the applicable law. Executive Directors: EDPR has two Executive Directors who are also Joint Directors, Miguel Stilwell de Andrade (CEO) and Rui Teixeira (CFO), to whom the Board agreed to delegate all the competences that can be delegated as per established under the Company Bylaws and the applicable law. Delegated Committees: as regulated by the applicable Law and pursuant to the best corporate governance recommenda- tions, EDPR has set up two additional specialized internal committees: • The Audit, Control and Related Party Transactions Committee, whose main duties are the supervision of the financial information and internal control, risk management and Compliance systems. It also assumes the functions related to the analysis and, when applicable, the approval of the Related Party Transactions of the Company. • The Appointments, Remunerations and Corporate Governance Committee, whose main duties are the assistance and report to the Board of Directors in the appointments, re-elections, dismissals, evaluation, and remunerations of the mem- bers of the Board of Directors and Management Team members. It also assumes the functions related to the reflection on the Corporate Governance structure of the company and its efficiency.

180 Management Team: On January 2021 the Board of Directors agreed to create this body in order to assume the conduction and supervision of the daily activity and performance of the Company. Considering the growing tendence of EDPR and its presence in new geographies, during 2021 it was analyzed the appro- priate composition of the Management Team in order to ensure the required support to the needs to be covered both in business and technical terms. As conclusion, and in particular considering that the potential completion of the acquisition of Sunseap (Asian Platform) will imply the creation of an Asian-Pacific Platform, and that the need of implementing a stand- ardization of technical process and criteria made also necessary to incorporate a technical profile to the Management Team, following the proposal of the Appointments, Remunerations and Corporate Governance Committee, the Board of Directors agreed to stablish a new structure for the Management Team that would entail the following composition: the CEO and CFO, the representatives of EDPR’s Platforms (Europe, LATAM, APAC and North America), and a member in charge of the coor- dination of the technical functions. On November 2 nd , 2021 the Board of Directors acknowledged the resignation presented by Spyridon Martinis and Miguel Angel Prado as COOs and Members of the Management Team, and following the proposal of the Appointments, Remuner- ations and Corporate Governance Committee, approved to appoint two members for the new Management Team positions considered under the new structure: Pedro Vasconcelos as COO of APAC platform and Bautista Rodriguez as Chief Technical Officer (“CTO”) & Offshore Business. Finally, on December 23 rd , 2021, following the proposal of the Appointments, Remunerations and Corporate Governance Committee, the Board of Directors approved to appoint Sandhya Ganapathy as the COO of North America, and therefore, as new member of the Management Team. As a result of the new structure applicable to the Management Team and the new appointments approved, as of December 31 st , 2021, the composition of the Management Team of EDPR is the following: • Miguel Stilwell d’Andrade (CEO) • Rui Teixeira (CFO) • Duarte Bello (COO Europe&LATAM) • Pedro Vasconcelos (COO APAC) • Sandhya Ganapathy (COO NA) • Bautista Rodríguez (CTO& Business Offshore) B) Functioning 22. Board of Directors regulations EDPR’s Board of Directors Regulations are available at Company’s website (www.edpr.com), and at Company’s headquar- ters at Plaza de la Gesta, 2, Oviedo, Spain. 23. Number of meetings held by the Board of Directors and attendace report According to the Law and its Articles of Association, EDPR’s Board of Directors meetings take place at least once every quarter. During the year ended on December 31 st , 2021, the Board of Directors held nine (9) meetings. The notices and supporting documents of the topics to be discussed in each meeting are sent to the Board members in advance to their proper discussion during the meeting. Additionally, the minutes of all meetings are drawn and also circulated.

181 The table below expresses the attendance percentage of the participation of the Directors to the meetings held during 2021: BOARD MEMBER POSITION ATTENDANCE* António Gomes Mota Chairperson (non-Executive and Independent) 100% Miguel Stilwell d’Andrade CEO and Executive Vice-Chairperson 100% Rui Teixeira CFO and Executive Director 100% Vera Pinto Non-Executive Director 100% Ana Paula Marques Non-Executive Director 100% Miguel Setas Non-Executive Director 100% Manuel Menéndez Non-Executive Director 88,88% Acácio Piloto Non-Executive Director and independent Director 100% Allan J. Katz Non-Executive Director and independent Director 100%** Joan Avalyn Dempsey Non-Executive Director and independent Director 100%** Rosa García García Non-Executive Director and independent Director 100% José Félix Morgado Non-Executive Director and independent Director 100% Duarte Bello Executive Director 100% Spyridon Martinis Executive Director 100% Miguel Ángel Prado Executive Director 100% António Nogueira Leite Non-Executive Director and independent Director 100% Francisco Seixas da Costa Non-Executive Director and independent Director 100% Conceição Lucas Non-Executive Director and independent Director 100% Alejandro Fernandez de Araoz Non-Executive Director 100% * The percentage reflects the meetings attended by the Members of the Board during 2021, provided that: i) Duarte Bello and Spyridon Martinis presented the resignation to their positions as Board Members with effects January 19 th , 2021; Miguel Angel Prado pre- sented the resignation to his position as Board Member with effects January 22 nd , 2021; and António Nogueira Leite, Conceição Lucas, Francisco Seixas da Costa and Alejandro Fernández de Araoz presented the resignation to their positions as members of the Board of Directors with effects April 12th,2021, thus the percentage shown in the table for them reflects the attendance calculated over the meetings celebrated until such date. ii) Miguel Stilwell d’Andrade, Ana Paula Marques and Joan Avalyn Dempsey were appointed by co-option on January 19 th , 2021, and António Gomes Mota, Miguel Nuno Simões Nunes Ferreira Setas, Rosa García García, and José Manuel Félix Morgado were appointed by the Shareholders’ meeting held on April 12 th , 2021, thus the percentage shown in the table for them reflects the attendance calculated over the meetings celebrated since such dates. **Allan J. Katz and Joan Avalyn Dempsey we not able to attend to the Board of Directors meeting held on March 3 rd ,2021 but in line with the Company bylaws and the applicable law, they delegated their representation and votes into other two non-executive members of the Board. 24. Competent body for the performance appraisal of Executive Directors The key performance indicators for the appraisal of the Executive Directors are set in advance and approved by the General Shareholder’s Meeting. Once the corresponding fiscal year is completed, the Appointments, Remunerations and Corporate Governance Committee performs the first assessment about the compliance with such key performance indicators, and submits its recommendation to the Board of Directors, which evaluates the proposal of this committee and makes the final decision. Should be noted that according to the personal law of EDPR, the definitive assessment of this performance is a non-delegable competence of the Board of Directors. 25. Performance evaluation criteria The criteria for assessing the Executive Directors’ performance are described on topics 70, 71 and 72 of this Chapter 5 of the Annual Report.

182 26. Availability of the Members of the Board of Directors The members of Board of Directors of EDPR are fully available for the performance of their duties having no constraints for the execution of this function simultaneously with other positions. Additionally, Executive Directors of EDPR, do not perform any other executive duties outside the Group. The positions held at the same time in other companies within and outside the Group, and other relevant activities undertaken by members of the Board of Directors throughout the financial year are listed in the Annex I of this Chapter 5 of the Annual Report. C) Committees within the Board of Directors or Supervisory Board and Board Delegates 27. Board of Directors’ Committees As previously exposed, in line with Spanish Law and as specifically foreseen in Article 10 of the Company’s Articles of Asso- ciation, the Board of Directors is entitled to create delegated bodies. The Board of Directors of EDPR has set up two commit- tees: • Audit, Control and Related-Party Transactions Committee • Appointments, Remunerations and Corporate Governance Committee Both Committees are composed exclusively by non-executive and independent members. 28. Details of the Board Delegates On January 19 th , 2021, the Board of Directors agreed to disolve the Executive Committee of the Company, and to appoint Miguel Stillwel d’Andrade and Rui Teixeira as Joint Directors, delegating in them all the competences that can be delegated as per established under the Company Bylaws and the applicable law. The reserved matters of the Board of Directors are identified in topic 9 of this Chapter 5 of the Annual Report and article 9 of the Board of Directors Regulations. 29. Committees competencies Audit, Control and Related Party Transactions Committee Composition Pursuant to Article 28 of the Company’s Articles of Association and Article 9 of its Regulations, the Audit, Control and Related Party Transactions Committee consists of no less than three (3) and no more than five (5) members. According to Article 28.5 of the Articles of Association the term of office of the Chairperson of the Audit, Control and Related Party Transactions Committee is a maximum of six (6) years. Following the proposal submitted by the Appointments, Remu- neration and Corporate Governance Committee, its Chairperson, Acacio Piloto, was first elected for this position on June 27 th , 2018, and re-elected on April 12 th , 2021.

183 The Audit, Control and Related Party Transactions Committee consists of three (3) non-executive and independent members, who since April 12 th , 2021 8 and as of December 31 st 2021, are the following: • Acacio Piloto, who is the Chairperson • Rosa García García • José Manuel Félix Morgado Additionally, María González Rodríguez is the Secretary of the Audit, Control and Related Party Transactions Committee since November 2 nd , 2021. The committee members shall maintain their positions for as long as they are Company Directors. Nevertheless, the Board may decide to discharge members of the committee at any time, and also the members may resign of these positions but still maintaining their seat as Members of the Board of Directors. Competences Notwithstanding the other duties that the Board may assign to this committee, it shall perform supervisory functions of Audit and Control independently from the Board of Directors, as well as, by delegation of the Board of Directors, the supervisory functions of the transactions between Related Parties, as follows: A) Audit and Control functions 9 : • Reporting through the Chairperson on questions falling under its jurisdiction to the General Shareholders’ Meetings; • Proposing the appointment of the Company’s auditors to the Board of Directors for subsequent approval by the General Shareholders’ Meeting, as well as the contractual conditions, scope of the work – specially concerning audit services, “audit related” and “non-audit” – annual activity evaluation and revocation or renovation of the auditor appointments; • Supervising the finance reporting and the functioning of the internal risk management and control systems, as well as evaluating those systems and proposing the adequate adjustments according to the Company necessities; • Supervising internal audits; • Establishing a permanent contact with the external auditors to assure the conditions, including independence, that may be adequate for provision of services performed by them acting as the Company speaker for the subjects related to the auditing process, and receiving and maintaining information on any other questions regarding accounting subjects; • Preparing an annual report on its activities, including eventual constraints, and expressing an opinion on the Man- agement Report, the accounts and the proposals presented by the Board of Directors; • Receiving notices of financial and accounting irregularities presented by the Company’s employees, shareholders, or entities that have a direct interest and judicially protected, related with the Company’s social activity; • Engaging the services of experts to collaborate with committee members in the performance of their functions (when engaging the services of such experts and determining their remuneration, it must be taken into account the im- portance of the matters entrusted to them and the economic situation of the Company); • Drafting reports at the request of the Board and its committees; • Approving and supervising, in coordination with the Management Team, the Annual Activity Plan of the Corporate Compliance Department; 8 During the period of 2021 elapsed until April 12 th , the members of this Committee were Acacio Piloto (Chairperson), Antonio Nogueira Leite (vocal) and Fran- cisco Seixas (vocal). Likewise, Emilio García-Conde Noriega was its Secretary until November 2 nd , 2021. 9 In addition to the competences listed in this section, the Audit, Control and Related Party Transactions Committee approved at its meeting held on December 21 st 2021 the amendment of its regulations in order to specifically include: i) the competence to supervise the suitability of the preparation process and the disclosure of financial information including suitable accounting policies, estimates, judgments, relevant disclosure and its consistent application between finan- cial years, in a duly documented and communicated form (which was already being performed in practise by this body but not formally reflected at its regula- tions), and ii) to concrete the supervisory functions of the Committee over internal audit activities in order to comply with the best Governance market practices, in particular referring to approving and supervising in coordination with the CEO, the Annual Internal Audit Plan; approving and reviewing the Internal Audit Rule; and supervising in coordination with the CEO and Management Team the implementation of the recommendations issued by Internal Audit. This amend- ment will be submitted for Board’s approval on the first meeting to be held in 2022.

184 • Appreciating and monitoring the recommendations on measures to be taken in situations of significant non-compli- ance; • Supervising compliance with regulations and alignment of business processes with the requirements of the Compli- ance Management System in order to achieve a sustainable compliance culture throughout the Company. B) Related Party Transactions functions: In 2021 the Spanish Companies Act was amended by the law 5/2021, which among others, sets a new regulation and requirements for Related Party Transactions with regards to the definition of Related Party Transactions, and the ap- proval and disclosure procedures of these type of operations. Consequently, the Audit, Control and Related Party Trans- actions Committee, at its meeting held on June 28 th , 2021, agreed to propose to the Board of Directors an amendment to its Regulations to align its competences with the new applicable law. The Board approved this proposal on July 27 th , 2021, stating the following Related Party Transactions competences at the new version of the Regulations of this Com- mittee: • By delegation of the Board of Directors: analyzing and, where appropriate, approving the (i) (a) intragroup transac- tions or (b) transactions performed between EDPR Group and EDP Group when their amount is below 10% of the total assets at the last annual balance sheet approved by the company, as long as they are in the ordinary man- agement of the company and under market conditions; (ii) transactions executed under contracts with standardized terms that are wholesale applied to a high number of clients under prices or tariffs generally established by the supplier of the goods or services, and which amount does not exceed the 0,5% of the net annual company turnover, and periodically informing the Board of Directors about the transactions approved by this Committee in the exercise of the above referred delegation, stating the fairness and transparency of such transactions, and as the case may be, the compliance with the applicable legal criteria; • Analyzing and informing about any modification of the Framework Agreement signed by EDP and EDP Renováveis on 7 May 2008; • Submitting reports to the Board of Directors of the Company regarding the Related Party Transactions - that shall be approved by the Board of Directors of EDPR SA or by its Shareholder’s Meeting in accordance with the law - and that shall include: (i) the information regarding the nature of the operation and the relation with the Related Party, (ii) the identity of the Related Party, the date and value or amount of the compensation of the transaction, and any other information necessary to appraise if the operation is fair and reasonable for the company and for the non- Related Party shareholders; • Asking EDP for access to the information needed to perform its duties. Functioning In addition to the Articles of Association and the law, this committee is governed by its regulations (that were last amended on July 27 th 2021 10 ), which are available at the Company’s website (www.edpr.com). The committee shall meet at least once a quarter and additionally whenever its Chairperson deems fit. The notices and supporting documents of the topics to be discussed in each meeting of this committee are sent to its members in advance to 10 In 2021 the Board of Directors approved two amendments to the regulations of the Audit, Control and Related Party Transactions Committee (one in May 12 th , in order to formalize the delegation of the compliance supervisory functions, and a second one in July 27 th to align the Related Party concepts, compe- tences and procedures with the new applicable law in Spain). Likewise, at its meeting held on 21 st , December 2021, the Committee agreed a new amendment in order to formally include the competence to supervise the suitability of the preparation process and the disclosure of financial information, and to concrete its supervisory functions over internal audit activities, but this latest amendment is still pending from Board approval.

185 their proper discussion during the meeting. Additionally, this committee shall draft minutes of every meeting held and inform the Board of Directors of its decisions at the first Board held after each committee meeting. Decisions shall be adopted by majority and the Chairperson shall have the casting vote in the event of a tie. 2021 Activity In 2021 the Audit, Control and Related Party Transactions committee’s activities included the following: A)Audit and Control Activities: • Monitor the closure of quarterly accounts, first half-year and year-end accounts; • Information about the proposals of application of results for the fiscal year ended on December 31 st 2020 and the distribution of dividends; • Information about the independence of the External Auditor; • Assessment of the external auditor’s work, especially concerning the scope of work in 2021, approval of all “audit related” and “non- audit” services and analysis of external auditor’s remuneration; • Assessment on the policies and remunerations systems of the Company; • Supervision of the quality and integrity in the preparation and disclosure of the financial information in accordance with the applicable accounting policies, estimates and judgments; • Drafting of an opinion about the individual and consolidated reports (including the Corporate Governance report) and accounts, in a quarterly, half year and yearly basis; • Monitorization of Internal Audit Activity, including the supervision of the execution of the Audit Plan, its Budget and headcount. and pre-approval of the draft prepared for the 2022 Internal Audit Action Plan; • Monitorization of the recommendations issued by Internal Audit and reviewing the Internal Audit Standard; • Follow-up and supervision of the quality, integrity and efficiency of the treasury management (finance and debt), the Internal Control System, Compliance and Risk Management; • Monitorization and evaluation of the risk management performed during 2021, issuing a report including the assess- ment about it; • Information about Whistle-Blowing; • Information about the contingencies affecting to the Group; • Issuance of the report of its activities performed during 2020 and self-assessment about its performance, as well as of specific annual reports regarding the appraisal of the Internal Audit functions and Internal Control activities. • Analysis of best practices and regulations applicable to Corporate Compliance structures, which among others require that the Compliance Officer has enough independency to perform the supervisory role, and analysis regarding the most adequate reporting structure for EDPR Corporate Compliance, proposing to the Board of Directors to update article 8.1.A) of its Regulations in order to expressly attribute to it the necessary competences over Corporate Com- pliance; • Analysis of the new regulation applicable in Spain regarding Related Party Transactions, and revision of its Regula- tions in order to align its definitions and competences under Article 8.1.B) with the new applicable law; • Analysis of the impacts of the climate event occurred in February 2021 in Oklahoma and Texas (supply shortcuts and increase in the demand and prices), approving the necessary adjustments in the budget, and the conclusions and recommendations to be taken into account at these markets; • Following the best Corporate Governance practice, the Committee holds a specific and complementary meeting with the External Auditors twice a year to discuss any remark in the process of the elaboration of the Company 1H and YE accounts; • Celebration of an specific meeting with Ocean Winds to analyze its structure, projects and main challenges and ob- jectives; in particular with regards to: i) its governance, internal organization and Human Resources Policy; ii) Business

186 Plan; iii) Accounting, Consolidation and Tax; iv) Audit, Internal Control, Compliance and Risk Management (including the functional report EDPR/ENGIE). • Considering the conclusions obtained by the Appointments, Remunerations and Corporate Governance Committee regarding the feedback and possible improvements issued by the CEAM for 2020 Corporate Governance Report, in order to fully comply with the suggestions made for recommendation VII.1.1 of the IPCG Code, the Committee ap- proved the amendment of its regulations in order to specifically include under article 8.1.A) the competence to super- vise the suitability of the preparation process and the disclosure of financial information by the Board of Directors, including suitable accounting policies, estimates, judgments, relevant disclosure and its consistent application be- tween financial years, in a duly documented and communicated form (which was already being performed in practice by this body but not formally reflected at its regulations); • In order to comply with the best Governance market practices, the Committee approved to concrete its supervisory functions over Internal Audit activities by amending article 8.1.) of its regulations, in particular referring to approving and supervising in coordination with the CEO, the Annual Internal Audit Plan; approving and reviewing the Internal Audit Rule; and supervising in coordination with the CEO and Management Team the implementation of the recom- mendations issued by Internal Audit. B)Related Party Transactions Activities: In 2021, the Audit, Control and Related Party Transactions Committee revised, approved and submitted to the Board of Directors the transactions between related parties submitted to its consideration in accordance with its competences and the applicable law. Section E – I, topic 90 of Chapter 5 this Annual Report includes a description of the fundamental aspects of the agreements and contracts between related parties. The Audit, Control and Related Party Transactions Committee found no constraints during its control and supervision activ- ities. The information regarding the meetings celebrated by this Committee and the attendance of its related members during the year 2021 is described at topic 35. Appointments, Remunerations and Corporate Governance Committee Composition Pursuant to Article 29 of the Company’s Articles of Association and Article 9 the Appointments, Remunerations and Corpo- rate Governance Committee Regulations, this committee shall consist of no less than three (3) and no more than six (6) members. At least one of its members must be independent and shall be its Chairperson. In accordance with its personal law (Spanish law), with recommendation V.3.3. of the Corporate Governance Code of IPCG, and to the extent possible with recommendation V.2.1. of the Corporate Governance Code of IPCG (as considering that in Spain this committee shall be created by the Board and being entirely comprised by members of its Board of Directors), the Appointments, Remunerations and Corporate Governance Committee of EDPR is entirely integrated by Non-Executive and Independent Directors. The Appointments, Remunerations and Corporate Governance Committee consists of three (3) non-executive an independ- ent, who since April 12 th , 2021 11 and as of December 31 st 2021, are the following : • António Gomes Mota, who is the Chairperson • Rosa García García • José Félix Morgado 11 During the period of 2021 elapsed until April 12 th , the members of this Committee were Antonio Nogueira Leite (Chairperson), Francisco Seixas (vocal) and Conceição Lucas (vocal). Likewise, Emilio García-Conde Noriega was its Secretary until November 2 nd , 2021.

187 Additionally, María González Rodríguez is the Secretary of the Appointments, Remunerations and Corporate Governance Committee since November 2 nd , 2021. None of the committee members are spouses or up to third degree relatives in direct line of the other members of the Board of Directors. The committee members shall maintain their positions for as long as they are Company Directors. Nonetheless, the Board may decide to discharge members of the committee at any time and the members may resign said positions while remaining Company Directors. Competences The Appointments, Remunerations and Corporate Governance Committee is a permanent body belonging to the Board of Directors with an informative and consultative nature and its recommendations and reports are not binding. The Appointments, Remunerations and Corporate Governance Committee has no executive functions. The main functions of this committee are to assist and report to the Board of Directors about appointments (including by co-option), re- elections, removals and remuneration of Directors and members of the Management Team. It also assumes the functions related to the reflection on the Corporate Governance structure and on its efficiency, and informs the Board of Directors on general remuneration and incentive policy and incentives for Board members and executive staff. These functions include the follow- ing: • Defining the standards and principles governing the composition of the Board of Directors and the selection and ap- pointment of its members; • Proposing the appointment and re-election of Directors (including nominations by co-option) for the submission to the General Shareholders’ Meeting by the Board of Directors; • Proposing to the Board of Directors the candidates for the different committees; • Proposing to the Board, within the limits established in the Articles of Association, the remuneration system, distribution method, and amounts payable to the Directors; • Making proposals to the Board of Directors on the conditions of the contracts signed with Directors; • Informing and making proposals to the Board of Directors regarding the appointment and/or removal of executives and the conditions of their contracts and generally defining the hiring and remuneration policies of executive staff; • Reviewing and reporting on incentive plans, pension plans, and compensation packages; • Overseeing and assessing the suitability of the corporate governance model implemented by the Company and their compliance with internationally accepted models of corporate governance, forwarding any appropriate recommenda- tions in this area to the Board of Directors; • Supervising compliance with, and the correct application of, the corporate governance principles and standards in force, promoting and requesting the exchange of information necessary for this purpose; • Any other functions assigned in the Articles of Association or by the Board of Directors. In accordance with the personal law of EDPR, all the Board Members shall attend to the General Shareholder’s Meeting, and as exposed in topic 15 of this Chapter 5 of the Annual Report, all the Delegated Committees are composed Directors. As such, the Chairperson of the Appointments, Remunerations and Corporate Governance Committee shall attend the Share- holder’s Meetings, and in case its agenda includes any topic related to remuneration of the company’s governing bodies, this Director will be most adequate to answer. During 2021 two Shareholders’ Meetings were held (on February 22 nd , 2021 and on April 12 th , 2021) and the Chairperson of the Committee in that moment, Antonio Nogueira Leite, attended.

188 Functioning In addition to the Articles of Association, the Appointments, Remunerations and Corporate Governance Committee is gov- erned by its Regulations (that were last amended on February 23 rd , 2021) 12 , which are available at the Company’s website (www.edpr.com). The notices and supporting documents of the topics to be discussed in each meeting of this committee are sent to its mem- bers in advance to their proper discussion during the meeting. Additionally, this committee shall draft minutes of every meet- ing held and inform the Board of Directors of its decisions at the first Board held after each committee meeting. Decisions shall be adopted by majority and the Chairperson shall have the deciding vote in the event of a tie. 2021 Activity In 2021 the Appointments, Remunerations and Corporate Governance Committee held five (5) meetings, and the main ac- tivities performed were: • Acknowledgement of the resignations to the position as Board Member presented by Francisca Guedes de Oliveira (with effects December 30 th , 2020), Duarte Belo and Spyridon Martins (with effects January 19 th , 2021) and Miguel Angel Prado (with effects February 22 nd , 2021); • Analysis of the most adequate candidates to cover the above referred vacancies, proposing to the Board of Directors the co-option of Miguel Stilwell d’Andrade (as Executive Director), of Ana Paula Marques (as Dominical Director) and of Joan Avalyn Dempsey (as Independent Director); • Analysis of the measures to be adopted in order to fully comply with the applicable regulation on gender diversity at the Board of Directors level, assuming the commitment of ensuring its complete compliance by adopting a balanced compo- sition by the Ordinary shareholders’ Meeting to be held in 2021; • Considering the public communication of António Mexia and João Manso Neto about their no availability to be re-elected for their positions in EDP and following the appointment by EDP’s shareholders of a new Executive Board of Directors team at EDP, taking in consideration that both informed that they were putting their positions at the disposal of the Board, the Committee analyzed the implications of the situation, and agreed to propose to the Board of Directors the dismissal of António Mexia as Chairperson of EDPR’s Board, and of João Manso Neto as Vice-Chairperson of EDPR´s Board and CEO of EDPR, revoking the powers delegated in their favor; • Proposing to the Board of Directors, for its submission to the Extraordinary Shareholders’ Meeting to be held on February 22 nd , 2021: i)the ratification of the co-option of Miguel Stilwell d’Andrade (as Executive Director), of Ana Paula Marques (as Dominical Director) and of Joan Avalyn Dempsey (as Independent Director); ii) the deliberation on the termination of António Mexia and João Manso Neto as members of the Board of Directors; iii) the adjustment of the number of Board Members in twelve (12); and iv) the amendment to the By-Laws to eliminate the role of the Chairperson of the Share- holders’ Meeting, and allow the Shareholders Meeting to be chaired by the Board of Directors Chairperson; • Proposing to the Board of Directors the candidates for the roles of Chairperson, Vice-chairperson, CEO and CFO, as well as the corresponding delegation of competences, to be considered in case of approval of the proposals submitted to the Extraordinary Shareholders’ Meeting of February 22 nd , 2021; • Analysis of the contractual conditions to be considered under the contracts to be executed between EDPR and Miguel Stilwell d’Andrade and Rui Teixeira in compliance with article 249 of the Spanish Companies Act in the case of approval of the delegation of powers in their favor. • Analysis of the amendments to be considered for the Management Services Agreement between EDP and EDPR in case the proposals of appointments and dismissals submitted for the Extraordinary Shareholders’ Meeting of February 22 nd , 2021 were approved; • The development of a screening about the different Governance structures adopted in listed companies, and of an anal- ysis about a possible restructuration of the one adopted in EDPR in order to better maximize the participation of the 12 On its meeting held on December 14 th , 2016, the Board of Directors approved to delegate the functions related to the reflection on the Corporate Governance structure and on its efficiency in this Committee and, since then, in the performance of these functions, revised the Corporate Governance Report prepared for each exercise and annually prepared and issued a report under which the Corporate Governance system adopted by EDP Renováveis, S.A. was analysed. In order to formalize the assignment of these functions, and considering that under recommendation III.7 of the IPCG Code companies should have specialised committees on matters related to Corporate Governance, the Board of Directors of EDPR approved on February 23 rd , 2021 to adjust the name of the committee to refer the assumption of these functions (thereinafter Appointments, Remunerations and Corporate Governance Committee), and to amend its Regulations to specifically include the functions regarding Corporate Governance matters within its competences.

189 Board in the management of the Company, proposing to this extent to eliminate the Executive Committee body, and to set up a Management Team; • Proposing the candidates to integrate the Management Team, as well as their contract and remuneration conditions; • Proposing the applicable adjustments to the Remuneration Policy of EDPR to be considered as per the elimination of the Executive Committee and the creation of a Management Team; • Proposing the appointment of Francisco Seixas (Independent Director) as new member of the Audit, Control and Related Party Transactions Committee in order to cover the vacancy left by Francisca Guedes de Oliveira; • Issuing its opinion regarding the performance evaluation of the Board of Directors and Delegated Committees for year 2020; • Drafting of the Declaration of the Board of Directors Remuneration Policy for 2020-2022 to be proposed to the Board of Directors for its submission to the General Shareholders’ Meeting; • Drafting the report of its activities performed during the year 2020; • Analysis and issuance of a reflection on the Corporate Governance system adopted by EDPR during 2020; • Acknowledgement of the resignations to the position as Board Member presented by Antonio Nogueira Leite, Conceição Lucas, Francisco Seixas da Costa and Alejandro Fernández de Araoz (with effects April 12 th , 2021); • Analysis of candidates to cover the vacancies left by the above referred resignations, proposing to the Board of Directors, for its submission to the Ordinary Shareholders’ Meeting of April 12 th , 2021, the appointment of António Gomes Mota (as Independent Director), Miguel Setas (as Dominical Director), Rosa García (as Independent Director) and José Manuel Felix Morgado (as Independent Director); • Proposing to the Board of Directors, for its submission to the Ordinary Shareholders’ Meeting of April 12 th , 2021, the re- election as Directors of Miguel Stilwell d’Andrade (as Executive Director), Rui Teixeira (as Executive Director), Vera Pinto (as Dominical Director), Ana Paula Marques (as Dominical Director), Manuel Menéndez (as External Director), Acacio Piloto (as Independent Director), Allan Katz (as Independent Director) and Joan Avalyn Dempsey (as Independent Direc- tor); • Analysis of candidates for the positions of Chairperson and Vice-Chairperson of the Board of Directors - considering the best corporate governance practices under which the Chairperson is an Independent Director -, proposing to this extent to the Board of Directors the appointment of António Gomes Mota as Chairperson and Miguel Stilwell de Andrade as Vice-Chairperson; • Proposing to the Board of Directors the re-election of Miguel Stilwell de Andrade as CEO of the Company and of Rui Teixeira as CFO, as well as to approve the related delegation of powers in their favour; • Analysis of candidates to integrate the Audit, Control and Related Party Transactions Committee, proposing to the Board of Directors the appointment of Acacio Piloto as its Chairperson, and of Rosa García and José Manuel Félix Morgado as vocals; • Analysis of candidates to integrate the Appointments, Remunerations and Corporate Governance Committee, propos- ing to the Board of Directors the appointment of António Mota as its Chairperson, and of Rosa García and José Félix Morgado as vocals; • Review and approval of the Remunerations Report related to 2020; • In order to formalize the assignment of the competences related to Corporate Governance - delegated and performed in practice by this Committee since 2016 - and considering that under recommendation III.7 of the IPCG Code companies should have a specialised committee on matters related to Corporate Governance, this Committee proposed to the Board of Directors to adjust its name to refer the assumption of these functions (thereinafter Appointments, Remunerations and Corporate Governance Committee), and to amend its Regulations to specifically include the functions regarding Corpo- rate Governance matters within its competences; • Analysis of the amendments to be considered for the Management Services Agreement between EDP and EDPR in case the proposals of appointments and re-elections submitted to the Ordinary Shareholders’ Meeting of April 12 th , 2021 were approved; • Review of the reserved matters of the Board of Directors considering: i) those that were regulated at the Executive Com- mittee’s Regulations, ii) those applicable as of the amendment of the Spanish Companies Act (which implies that the section for listed companies is now applicable to EDPR) and iii) the alignment with the economic thresholds adopted in

190 EDP; proposing to the Board of Directors the amendment of its Regulations in order to include new list of non-delegable matters of the Board of Directors; • Analysis of the scope, competences, functioning and composition of the Ethics Committees within EDP Group, proposing to the Board of Directors, in line with the initiatives performed at EDP level, the approval of a revised version of its Regu- lations and a new composition of these Committee that would be integrated by: the Chairperson of the Appointments, Remunerations and Corporate Governance Committee (who will be the Chairperson of the Ethics Committee); the Chair- person of the Audit, Control and Related Party Transactions Committee, the Ombudsperson, the Compliance Officer, the Corporate Director of Human Resources, the General Counsel & Regulatory Compliance of EDPR NA and the Secretary of the Board of Directors (who will also act as Secretary of the meetings); • Review of a benchmark and frame reference in the market for the remunerations of Non-Executive Directors, comple- ments for membership or chairmanship of Committees, and of Independent Chairperson, proposing to the Board of Di- rectors the approval of a new Remuneration Policy for Non-Executive Directors; • Proposing to the Board of Directors the approval of a Long Incentive Plan for the COOs; • Analysis of the appropriate composition of the Management Team in order to ensure the required support to the needs to be covered both in business and technical terms, proposing to the Board of Directors to stablish a new structure that would entail the following composition: the CEO and CFO, the representatives of EDPR’s Platforms (Europe, LATAM, APAC and North America), and a member in charge of the coordination of the technical functions. • Analysis of the candidates to assume the position of COO of APAC and Member of the Management Team, proposing to this extent to the Board of Directors the appointment of Pedro Vasconcelos; • Analysis of the candidates to assume the position of Chief Technical Officer & Business Offshore and Member of the Management Team, proposing to this extent to the Board of Directors the appointment of Bautista Rodríguez; • Acknowledgement of the resignments to the positions in the Management Team presented by Spyridon Martinis (with effects November 30 th , 2021) and Miguel Angel Prado (with effects November 19 th , 2021); • Proposing the applicable adjustments to the Remuneration Policy of EDPR to be considered as per the new composition of the Management Team and its alignment with market conditions; • Deliberation about the convenience of including the analysis and definition of a Succession Plan for certain key positions in the Company as well as an analysis of the background and experience of Board members, resolving to adopt the commitment of working on these initiatives during 2022; • Discussing on the convenience of providing a training plan for Non-Executive Directors, including legal developments in Spain and Portugal that may have any impact in the Company: • Analysis of the feedback issued by the CEAM regarding the 2020 Corporate Governance Report, issuing an action plan in order to reach the room of improvement where applicable; • Acknowledgement of the retirement of Emilio Garcia-Conde from his position as Secretary of the Board of Directors, analysing the candidates to cover this vacancy, and proposing to the Board of Directors to appoint María González Rodríguez (Vice-Secretary of the Board of Directors since 2019) as Secretary non-member of the Board of Directors of EDPR, and to appoint Borja Pérez Dapena as new Vice secretary non-member of the Board of Directors of EDPR. • Analysis of the candidates to assume the position of the CEO of EDPR NA/COO of EDPR for North America and Mem- ber of the Management Team, proposing to this extent to the Board of Directors the appointment of Sandhya Ganapa- thy; • Proposing the applicable adjustments to the Remuneration Policy of EDPR to be considered in order to include the con- ditions applicable to the CEO of EDPR NA/COO of EDPR SA for North America.

191 III. Supervision A) Supervision 30. Supervisory Board - model adopted EDPR’s governance model, as long as it is compatible with its personal law (Spanish law), corresponds to the so -called “Anglo- Saxon” model set forth in the Portuguese Commercial Companies Code, in which the management body is a Board of Directors, and the supervision and control duties are of the responsibility of an Audit, Control and Related Party Transac- tions Committee. 31. Composition of the Audit, Control and Related Party Transactions Committee The Audit, Control and Related Party Transactions Committee is comprised only by non-executive and independent mem- bers. The composition of this Committee during the period of 2021 elapsed until April 12 th , 2021, was as follows: MEMBER POSITION DATE OF FIRST APPOINTMENT Acacio Piloto Chairperson 27/06/2018 Antonio Nogueira Leite Vocal 6/11/2018 Francisco Seixas* Vocal 19/01/2021 *Francisca Guedes de Oliveira presented her resignation as Member of the Board with effects 30 th December 2020, and therefore also as member of the Audit, Control, and Related Party Transactions Committee. In order to fill this vacancy at the committee level, the Board of Directors resolved at its meeting held on January 19 th , 2021 to appoint Francisco Seixas as new member of the Audit, Control and Related Party Transactions Committee. The composition of this Committee during the period of 2021 elapsed since April 12 th , 2021, and as of December 31 st , 2021 was as follows: MEMBER POSITION DATE OF FIRST APPOINTMENT Acacio Piloto Chairperson 27/06/2018* Rosa García García Vocal 12/04/2021 José Félix Morgado Vocal 12/04/2021 *Re-elected in April 12 th , 2021. Additionally, María González Rodríguez is the Secretary of the Audit, Control and Related Party Transactions Committee since November 2 nd , 2021. 32. Independence of the Members of the Audit, Control and Related Party Transactions Committee Information concerning the independence of the members of the Audit, Control and Transactions Party Committee is avail- able on the chart of topic 18 of this Chapter 5 of the Annual Report. As mentioned on the first paragraph of topic 18, the independence of the members of the Board and of its committees is evaluated according to the Company’s personal law, the Spanish law. 33. Professional qualifications and biographies of the Members of the Audit, Control and Related Party Transactions Committee Professional qualifications of each member of the Audit, Control and Related Party Transactions Committee and other im- portant curricular information, are available in the Annex I of this Chapter 5 of the Annual Report.

192 B) Functioning 34. Audit, Control and Related Party Transactions Committee Regulations The Audit, Control and Related Party Transactions Committee regulations are available at the Company’s website (www.edpr.com) and at the Company’s Headquarters at Plaza del Fresno, 2, Oviedo, Spain. 35. Number of meetings held by the Audit, Control and Related Party Transactions Committee The Audit, Control and Related Party Transactions Committee regularly meets representatives of the internal specialized departments involved in the areas under committee’s competences in order to discuss the information periodically reported about, among others, work plans and resources of the internal auditing service, Compliance and SCIRF, Company accounts, detection of potential irregularities (whistleblowing), global risk management and audit and non-audit services provided by the External Auditor (including the appraisal about its independence). This relationship provides a wider information to the committee that would be taken into account for the development of its functions and in particular, for the assessments issued under the elaboration of the appraisal report over the functions of Internal Audit, the Internal Control Report and the Risk Management Report, that this committee issues for every fiscal year. During 2021, the Audit, Control and Related Party Transactions Committee held a total of eleven (11) meetings, and as referred in paragraph above, in order to better perform its supervisory functions over the activities reported by the areas within its competences, the committee invited the responsible teams of the related areas to several of these meetings as follows: Internal Audit participated in nine (9), CIC (Compliance and Internal Control) in five (5), Global Risk in four (4), Plan- ning and Control in four (4); Finance in four (4) and Administration, Consolidation and Tax in six (6). Likewise, the committee invited the External Auditors to five (5) of these meetings. The following table reflect the attendance of the members of the Audit, Control and Related Party Transactions Committee to its meetings held during 2021: MEMBER POSITION ATTENDANCE* Acacio Piloto Chairperson 100% Rosa García García Vocal 100% José Manuel Félix Morgado Vocal 100% Antonio Nogueira Leite Vocal 100% Francisco Seixas Vocal 100% (*) The percentage reflects the meetings attended by the Members of the Audit, Control and Related Party Transactions Committee in 2021, provided that: i) António Nogueira Leite and Francisco Seixas da Costa presented the resignation to their positions as members of the Board of Directors (and therefore also as members of the Audit, Control and Related Party Transactions Committee) with effects April 12th,2021, thus the percentage shown in the table for them reflects the attendance calculated over the meetings celebrated until such date. ii) Rosa García García and of José Manuel Félix Morgado were appointed as members of this Committee on April 12th, 2021, thus the percent- age shown in the table for them reflects the attendance calculated over the meetings celebrated since such dates. 36. Availability of the Members of the Audit, Control and Related Party Transactions Committee The members of the Audit, Control and Related Party Transactions Committee are fully available for the performance of their duties having no constraints for the execution of this function simultaneously with positions in other companies. The positions held simultaneously in other companies inside and outside the Group and other relevant activities undertaken by members of this committee throughout the financial year are listed in Annex I of this Chapter 5 of the Annual Report.

193 C) Powers and duties 37. Procedures for hiring additional services to the External Auditor In accordance to the Recommendation VII.2.1. of the IPCG Corporate Governance Code, in EDPR there is a policy of pre- approval by the Audit, Control and Related Party Transactions Committee of the provision of non-audit services to be pro- vided by the External Auditor and any related entity. This policy was strictly followed during 2021. The non–audit services provided by the External Auditor and entities in a holding relationship with or incorporated in the same network as the External Auditor were previously approved by the Audit, Control and Related Party Transactions Com- mittee according to Article 8.A)b) of its Regulations, considering the following aspects: (i) such services having no effect on the independence of the External Auditor and any safeguards used; and (ii) the position of the External Auditor in the provi- sion of such services - notably the External Auditor’s experience and knowledge of the Company. Furthermore, although hiring services other than auditing services to the External Auditor is admissible, it is envisaged as an exception. In 2021 such services reached only around 5.4% of the total amount of services provided to the Company. 38. Other duties of the Audit, Control Related Party Transactions Committee Apart from the competences expressly delegated on the Audit, Control and Related Party Transactions Committee according to Article 8 of its Regulations, and in order to safeguard the independence of the External Auditor, the following additional competences of this committee were exercised during the 2021 financial year and should be highlighted: • Pre-approval of any services to be hired from the External Auditor and perform its direct and exclusive supervision; • Assessment of the qualifications, independence, and performance of the External Auditors, and obtaining, yearly and directly from the External Auditors, written information on all relations existing between the Company and the Auditors or associated persons, including all services rendered and all services in progress. In order to evaluate independence, the Audit Committee, obtained the information regarding External Auditors’ independence in light of the Spanish Law no. 22/2015 of July 20th, 2015 (“Ley de Auditoría de Cuentas”); • Review of the transparency report, signed by the Auditor and disclosed at its website. This report covers the matters provided for under Law no. 22/2015 of July 20th, 2015 (“Ley de Auditoría de Cuentas”); including those regarding the quality control internal system of the audit firm and the quality control procedures carried out by the competent authori- ties; • Review with the External Auditors their scope, planning, and resources to be used in their provision of services; IV-V. STATUTORY AND EXTERNAL AUDITORS 39-41. According to the Spanish law, the External Auditor (“Auditor de Cuentas”) is appointed by the General Shareholders’ Meeting and corresponds to the statutory auditor body (“Revisor Oficial de Contas”) described on the Portuguese Law. The information about the External Auditor is available in topics 42 to 47 of this Chapter 5 of the Annual Report. 42. External Auditor identification The main criteria considered in the selection of the most suitable and competitive firm to be appointed as External Auditor are the following: • Recognized technical and professional track record as External Auditor; • Consolidated Know-How about the business developed by the whole Group;

194 • Tailored and highly prepared working team; • Competitive contractual conditions and working methodology (including but without limitation, the total estimation of hours required for the development of the services- both as a total for the complete provision of services, and per each professional category of the proposed team); • Competitive fee proposal, including the final cap and a breakdown referring the price average per hour, and the remu- neration per hour for each professional category of the proposed team. As a result of a competitive process launched in 2017, during which the above criteria were exhaustively analyzed, Pricewa- terhouseCoopers Auditores, S.L. was appointed as EDPR SA External Auditor by the Shareholder’s Meeting held on April 3 rd , 2018. PricewaterhouseCoopers Auditores, S.L., is a Spanish Company registered at the Spanish Official Register of Auditors under number S0242 with Tax Identification Number B-79031290. The renewal of PricewaterhouseCoopers Auditores, S.L. as External Auditor of EDPR SA for years 2021, 2022 and 2023 was approved by EDPR’s Shareholders Meeting on April 12 th , 2021, and the audit partner in charge of EDPR is Iñaki Goiriena. 43. Number of years of the External Auditor PricewaterhouseCoopers Auditores, S.L. is in charge of the audit of EDPR SA accounts for the years 2021, 2022 and 2023, being 2018 the first year performing these duties. 44. Rotation Policy According to the personal Law of EDPR - the Spanish Law- the maximum term for an audit firm as the External Auditor of a company is established in a 10-year term. Following the proposal of the Audit, Control and Related Party Transactions Committee presented to the Board of Directors to its submission to the General Shareholders’ Meeting, on its meeting held on April 3 rd , 2018, it was approved to appoint PricewaterhouseCoopers Auditores, S.L as EDPR’s External Auditor for the years 2018, 2019 and 2020. The renewal of PricewaterhouseCoopers Auditores, S.L. as External Auditor of EDPR SA for years 2021, 2022 and 2023 was approved by EDPR’s Shareholders Meeting on April 12 th , 2021. 45. External Auditor evaluation The Audit, Control and Related Party Transactions Committee is responsible for the monitorization and annual evaluation of the services provided by the External Auditor according to the competences granted by its Regulations. In order to perform this assessment, this committee periodically includes in the agenda of its meetings a topic regarding the review of the ser- vices provided by the External Auditor (both audit an non-audit) and the fees already incurred and those estimated until year end. Likewise, and as exposed in topic 35 of this Chapter 5 of the Annual Report, the External Auditor attends and partici- pates in some of the meetings held by this committee, mainly in order to analyze the results of their audit reports. As such, the Audit, Control and related Party Transactions Committee acts as the company speaker with the External Auditor, with whom establishes a permanent contact throughout the year to assure the proper conditions for the provision of both the statutory audit services and non-audit services, and being also the body in charge of monitoring its independence along the year. Likewise, the External Auditor shall sign an annual statement declaring its independence. During 2021, according to the Audit, Control and Related Party Transactions Committee’s competences and in line with Recommendation VII.2.2, this committee was the first and direct recipient and the corporate body in charge of the permanent contact with the External Auditor on matters that may pose a risk to their independence as well as any other matters related to the auditing of accounts. Additionally, in compliance with the auditing standards in effect, it also receives and maintains the record of information about other matters as provided in the applicable auditing and accounting legislation. The External Auditor, within the scope of its duties, verified the implementation of the remuneration policies and systems of the corporate bodies as well as the efficiency and effectiveness of the internal control mechanisms and report any shortcomings to the Audit, Control and Re- lated Party Transactions Committee of the Company.

195 46. Non-Audit Services carried out by the External Auditor On March 3 rd , 2016, it was approved the regulation on the provision of services by the Statutory Auditor or Statutory Audit Firm, which defines and promotes criteria and methodologies to safeguard the independence of the audit and non-audit services (SDA). In accordance with such regulation, the Audit, Control and Related Party Transactions Committee closely follows the re- quests of non- audit services, each of which necessarily require the preapproval of this committee before its provision as per exposed in topic 29 of this Chapter 5 of the Annual Report and Article 8.A),b) of its Regulations. The identification of such non- audit services that will eventually be provided by the External Auditors is performed under the rules issued by the European Union on this matter, in particular under Regulation 537/2014 and the Spanish Auditing Law nº 22/2015, of 20 th July, as well as when applicable, in line with the particularities of the local regulations where the service is to be provided. During 2021 the non-audit services provided by the External Auditor of EDP Renováveis S.A (PricewaterhouseCoopers Au- ditores, S.L) consisted mostly on i) limited review as of March 31, 2021, June 30 th , 2021 and September 30, 2021 of the EDPR Consolidated Financial Statements; ii) review of the internal control system on financial reporting for the EDPR Group; iii) review of the non-financial information related to sustainability included in the EDPR Group’s annual report; and iv) access to a repository of international accounting standards as well as to the PwC Accounting Manual in digital version. Other non- audit services provided by the External Auditor or its network to EDPR’s subsidiaries mainly refer to i) agreed-upon proce- dures related to the review of covenants in the context of bank financing agreements; and ii) IFRS adoption for some EDPR subsidiaries. PricewaterhouseCoopers Auditores, was engaged to provide the above-mentioned services due to its in-depth knowledge of the Group’s activities and processes. These engagements did not risk their independence as External Auditors and were pre - approved by the Audit, Control and Related Party Transactions Committee prior to rendering the services. 47. External Auditor remuneration in 2021 for EDP Renováveis S.A. and subsidiaries TYPE OF SERVICE PORTUGAL SPAIN BRAZIL US OTHER TOTAL % Audit and statutory audit of accounts 170,201 623,896 188,719 1,290,216 919,016 3,192,048 94.6% Total audit related services 170,201 623,896 188,719 1,290,216 919,016 3,192,048 94.6% Other non-audit services - 162,307 6,000 - 14,865 183,172 5.4% Total non-audit related ser- vices - 162,307 6,000 - 14,865 183,172 5.4% Total 170,201 786,203 194,719 1,290,216 933,881 3,375,220 100% The amount of Other non-audit services in Spain includes, among others, services that refer to the entire Group such as the review of the internal control system on financial reporting and review of the non-financial information related to sustaina- bility included in the EDPR Group’s annual report, which are invoiced to a Spanish companies. This amount also includes the limited review as of March 31 st , 2021, June 30 th , 2021 and September 30 th , 2021 of the EDPR Consolidated Financial State- ments and other reviews for Group consolidation purposes which are considered non-audit services according to the respec- tive local regulation. Total amount for Spain refers to services provided by PricewaterhouseCoopers Auditores S.L.

196 C. Internal organisation I. Articles of Association 48. Amendmets to the articles of association The amendments of the Articles of Association of the Company are of the responsibility of the General Shareholders’ Meeting. According to Article 17 of the Company’s Articles of Association (“Constitution of the General Shareholders’ Meeting, Adop- tion of resolutions”), to validly approve any amendment to the Articles of Association, the Ordinary or Extraordinary Share- holders’ Meeting will need: • On first call, that the Shareholders either present or represented by proxy, represent at least fifty percent (50%) of the subscribed voting capital. • On second call, that the Shareholders either present or represented by proxy, represent at least twenty-five percent (25%) of the subscribed voting capital. In the event that the shareholders attending represent more than fifty percent (50%) of the subscribed voting capital, the resolutions referred to in the present paragraph will be validly adopted when reached absolute majority. If the shareholders attending represent between twenty-five percent (25%) and fifty percent (50%) – but without reaching it – the favorable vote of two-thirds (2/3) of the present or represented capital in the General Shareholders’ Meeting will be required in order to validly approve these resolutions. In 2021 there were approved two amendments to EDPR Bylaws: • The Extraordinary Shareholders’ Meeting held on February 22 nd , 2021 approved the amendment of articles 12 (“Notice of General Meetings”) and 16 (“Chairman of the General Meetings”), in order to align its contents with the decision of as- signing the Chairmanship of the General Meeting to the Chairperson of the Board of Directors. • The Ordinary Shareholders’ Meeting held on April 12 th , 2021, approved the amendment of article 5 (“Share capital”), in order to align its contents with the resolution of approving a share capital increase for a nominal amount of €441,250,000, being the resulting share capital of the company of €4,802,790,810. II. Reporting of irregularities 49. Irregularities communication channels WHISTLEBLOWING EDPR has always carried out its activity by consistently implementing measures to ensure the good governance of its com- panies, including the prevention of incorrect practices, particularly in the areas of accounting and finance. On this basis, and in compliance with the provisions of IPCG Corporate Governance Code, EDPR provides the Group workers with a channel enabling them to report directly and confidentially to the Audit, Control and Related Party Transactions Com- mittee any practice presumed illicit or any alleged accounting and/or financial irregularity in their Company. The channel is published in the official website so that any person can have easily access to it (https://www.edpr.com/en/edpr/our-com- pany/ethics-compliance).

197 With this channel for reporting irregular accounting and financial practices, EDPR aims to: • Guarantee conditions that allow workers to freely report any concerns they may have in these areas to the Audit, Control, and Related Party Transactions Committee; • Facilitate the early detection of irregular situations, which, if practiced, might cause serious damage to the EDPR Group, its workers, customers and shareholders. • Contact with the Company’s Audit, Control and Related Party Transactions Committee to this extent is only possible by email and post, and access to information received is restricted. Any complaint addressed to the Audit, Control and Related Party Transactions Committee will be kept strictly confidential and the whistle-blower will remain anonymous, provided that this does not prevent the investigation of the complaint. He/she will be assured that the Company will not take any retaliatory or disciplinary action as a result of exercising his/her right to blow the whistle on irregularities, provide information, or assist in an investigation. The process and functioning rules of this channel are explained in the Welcome Presentation organized every year for the new hires of EDPR and also published on the intranet and website of the Company. The bylaws of this channel are available at the intranet of the Company, which includes, among other issues, the regulation of the suitable means and procedure of communication and treatment of irreg- ularities, and the terms of safeguarding the confidentiality of the information transmitted and the identity of its provider. The Secretary of the Audit, Control and Related Party Transactions Committee receives all the communications and presents a quarterly report to the members of the Committee. In 2021 there were no communications through this channel regarding any irregularity at EDPR. CODE OF ETHICS AND ETHICS CHANNEL EDPR has a strong commitment in relation to the dissemination and promotion of compliance with ethic guidelines and principles like transparency, honesty, integrity, non-discrimination, equal opportunity, and sustainability, which is encouraged to all employees. With this goal, a new Code of Ethics was approved in December 2020 which replaces the Code of Ethics of February, 2014 as well as the regulation to the Code of Ethics. The commitments of this new Code are equally applicable to EDPR business partners, representatives and suppliers who are, in any way, entitled to act on behalf of EDPR. Other suppliers are explicitly required to respect this Code, in accordance with the obligations arising from qualification pro- cedures or established contracts. The Code of Ethics is an “action guide” reflecting the way EDPR believes one should work, therefore its enforcement is inev- itably mandatory; and employees who do not comply with this Code should be subject to disciplinary actions under the terms of the applicable regulations. Suppliers are also subject to the fulfilment of the principles of the Code of Ethics. The Code is a privileged tool that frames the reflection on Ethics, but it is essentially a mean of supporting the resolution of ethical issues, since it presents standards and norms of behavior that help sustain our decisions. Both the Code and its regulations are published on its intranet and website (https://www.edpr.com/en/edpr/our-com- pany/ethics-compliance) and annually all employees, including new hires, declare that they have received, read and under- stood the EDPR Code of Ethics, and they agree to comply with its provisions. Likewise, this Code has been widely circulated to the employees of the Group through internal communications and addi- tionally, with the objective that every employee the Company receive an specific training on Ethics the Company periodically, the Company provides an online courses basis on its Code of Ethics to all the employees. In this sense, during 2021 the following Ethic courses were launched: (i) Let’s live our (new) Code of Ethics (May 2021), (ii) To speak is to build (June 2021) and (iii) Say no to Harassment (September 2021). In order to support and achieve its Ethics Code and Ethics commitments and initiatives, and with the aim of minimizing the risk of unethical practices, generating transparency and trust in relationships, EDPR has also approved and implemented the following:

198 • New Ethics Committee: in 2021, EDPR decided to revise organization and functioning of its Ethics Commission, namely to: - Ensure independence from executive management; - Decrease the number of members for more efficient operation; - Allow the analysis and decision on ethical complaints in a more restricted context; - Allow more participatory debates on structuring Ethics themes, as well as on the annual Ethics Plan and its regular follow-up. As a consequence, a new Ethics Commission was created with the following main functions: - To establish guidelines for complying with the Code of Ethics; - To propose to the Board of Directors multi-annual Ethics Programs and the relevant annual Plans prepared by the Compliance Area and the Ethics Ombudsperson; - To appraise the quarterly Reports on the implementation of the Group's annual ethics plans prepared by the Compliance area and the Ethics Ombudsperson or other elements on ethical performance; - To review the cases of infraction of the Code of Ethics instructed by the Ethics Ombudsperson with the support of the teams that manage complaints at EDPR and to issue a binding opinion thereon; - To issue recommendations, when requested by any of the management bodies of the companies that make the EDPR Group, on practices or codes of conduct in the fields of ethics or deontology, developed within the framework of specific, legal, or regulatory needs; - To continuously ensure that the Code of Ethics and the procedures deriving from it are appropriate to the needs of the EDPR Group and to promote reviews of that document, at least every two years, duly sup- ported by a review report to be sent to the Board of Directors for approval. In this sense, the new Ethics Commission is composed by: (i) the Chairperson of the Appointments, Remunerations and Corporate Governance Committee, who shall chair the Committee; (ii) the Chairperson of the Audit, Control, and Related Party Transactions Committee; (iii) the Ethics Ombudsperson; (iv) the Compliance Officer; (v) the Human Resources Director; (vi) the General Counsel & Compliance of EDPR North America LLC.; (vii) the Secretary of the Board of Directors, who shall also perform the duties of the Secretary of the Ethics Committee meetings. • Ethics Ombudsperson: is an external person from the Company that receives complaints and doubts submitted through the Ethics Channel and investigates and documents the procedure for each of them, with guaranteed con- fidentiality in relation to the identity of the claimant. The appointment for this position is made by the Board of Directors. Its main functions are therefore as follows: - To be an independent, impartial listener, respecting confidentiality, and anonymity, at the disposal of those who seek his/her to clarify any situations on allegedly ethical grounds, bearing in mind the framework and the pro- visions of the EDPR Code of Ethics; - To receive communications of an ethical nature and, where appropriate, to instruct, document and submit the respective ethical infraction processes to the Ethics Committee; - To monitor each of the infraction proceedings, until their adjournment, establishing, whenever necessary and appropriate, the liaison with the complainant; - To regularly promote, jointly with the Compliance area, initiatives with the areas of the Group that are the sub- ject of complaints, to improve procedures and practices that will enable future complaints to be avoided and especially, to promote behaviour that is more in line with the EDPR Code of Ethics; - Prepare with the Compliance Area initiatives to be included in the Compliance and Ethics Programmes and Annual Plans; - To advice the Ethics Committee regarding strengthening the consistency of the Group´s Ethic Policy; - To annually report on the activity with the scope of their assigned function; - To annually review and update the procedure for managing all contacts addressed to them. Since January 2019, the Ombudsperson of EDPR is Maria Manuela Casimiro da Silva. • Ethics Channel: is an internal and external channel made available for the submission of claims and doubts about the infringements of the Ethics Code in matters of legislation and ethics, conduct in the work environment, human rights and equal opportunities, integrity, relations with customers and suppliers, environment and sustainability.

199 This channel is available on the intranet and Website of the Company and its existence and functioning is also introduced in Welcome Presentation organized every year for the new hires of EDPR. The procedure and workflow of the claims and queries submitted through this channel is regulated under the Regulations of the Code of Ethics and the regulations of the Ethics Committee, and is as follows: 1. The claimant (internal or external) submits its communication through the Ethics Channel (by email or let- ter through the template available at the Website an intranet), which is received by the Ethics Ombud- sperson. 2. The Ethics Ombudsperson starts the investigation and drafts the related report. 3. The Ethics Ombudsperson submits the summary of the investigation to the Ethics Committee (omitting the identity of the complainant) for its deliberation about the effective infringement of the Ethics Code or not and, to analyses if additional information is needed. If the latest were the case, an investigation will be carried out with the support of internal or external means as appropriate. 4. The final decision about the query or claim is communicated to the claimant. The Ethics Ombudsperson will make further contact with the complainant to report the opinion of the Ethics Commission. In 2021, there were five (5) claims submitted through the Ethics Channel. Four of them were considered un- founded, and there is one still open. Other activities: in October 2021, with the goal of reinforcing the ethics culture, the new following activities were performed at EDPR: (i) launch of Ethics survey (October 13 th ) and (ii) celebration of the Global Ethics Day (October 20 th ). The Ethics survey was launched with an email from the CEO encouraging all employees to participate in the survey in order to learn about the evolution of the ethical environment and to get a closer feel of how employees perceive ethics at EDPR. Regarding the Global Ethics Day, the Ethics ombudsperson published a message in the intranet highlighting that “Doing Good, well” is the only way to achieve EDPR's commitments related to the environment, the creation of social value and improving the quality of life of employees and, in general, populations. III. Internal Control and Risk Management 50. Internal Audit EDPR’s Internal Audit Department (“IAD”) is composed by ten (10) members. Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an or- ganization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. The IAD is not an executive body of EDPR, so it has no power in making management decisions in the Group’s activities, nor any hierarchical or functional link with the audited units, thus maintaining a relationship of total independence and objectivity in relation to them. The functions of the Internal Audit Department of EDPR were evaluated by the “Instituto de Auditores Internos” for the first time in 2020, obtaining the highest calification. The detailed information regarding the internal control system implemented in EDPR is included in topic 55 of this Chapter 5 of the Annual Report. 51. Organisational structure of Internal Audit The Internal Audit function in the EDPR Group is a corporate function, carried out by the Internal Audit Department (“IAD”), which has administrative dependence to the CEO of EDPR and functional dependence to the Audit, Control and Related Parties Committee which supervise the activities and to which Internal Audit activities are reported to EDP Internal Audit Director.

200 The articulation between EDPR Internal Audit and EDP Internal Audit is carried out through the Functional Reporting of the EDPR Internal Audit Director to the EDP Internal Audit Corporate Director, in which the associated management function includes the promotion and harmonization of work policies and methodologies, the management of action plans and report- ing activities to EDP Internal Audit Director. 52. Risk Management EDPR’s Enterprise Risk Management Process is an integrated and transversal management model that ensures the minimi- zation of the effects of risk on EDPR's capital and earnings, as well as the implementation of best practices of Corporate Governance and transparency. The process aligns EDPR’s risk exposure with the company’s desired risk profile. The Enterprise Risk Management Framework was approved in 2016, in accordance with the guidelines agreed at its Board of Directors level. Based on this risk framework, the Company develops a Risk Management System through individual risk policies and procedures for most relevant risks, where it is defined the methodology to calculate probability of occurrence and impacts, as well as mitigation measures and thresholds. In addition, these risk policies and procedures establish the process for control, periodic evaluation and eventual adjustments. The approvals necessary to proceed with this system are submitted to the Management Team, which will inform the Board of Directors of the progress. Likewise, the Risk Manage- ment System is closely followed and supervised by the Audit, Control and Related Party Transactions Committee, an inde- pendent supervisory body composed of non-executive members that reports to the Board of Directors, in charge, among others, of the monitorization of the compliance and progresses of the Risk Management Plan and possible improvements to the measures and controls for mitigating potential risks identified within EDPR. Market, counterparty, operational, business and strategic risks are identified and assessed and, following the result of the assessment, Risk Policies are defined and implemented across the company. These policies are aimed to mitigate risks with- out compromising potential opportunities, thus, optimizing return versus risk exposure. The increase in commodity prices during 2021 required additional analyses to assess a balanced market risk position: • Increase in energy prices: EDPR had no benefit for the general increase in energy prices during 2021, as merchant energy was already sold at fixed prices. The relevant rise in prices demonstrated the asymmetry between long and short posi- tions. Given 2021 market evolution, EDPR reassessed the optimal hedged position to account for this asymmetry and adjusted the position within 2021 and in future years. • Increase in commodity prices: Metals and fuel prices significantly increased during 2021, implying an increase in Capex. Most of the projects approved at EDPR with a PPA at a fixed price had already the Capex secured. Nonetheless, EDPR Global Risk defined the methodology for a potential execution of a commodity price hedge in those projects where Capex is not secured at the moment of PPA signing. In 2021 EDPR tested the possibility of using weather derivatives to hedge volatility of wind production at a portfolio level. Once market risk from energy prices is hedged, volume risk concentrates most of the market risk and a great portion of Net Income @Risk, hence, the interest of hedging production volumes. Considering that the Distributed Generation activity was added to EDPR North America within 2021, EDPR performed a backtesting of its Counterparty Risk Policy to assess its effectiveness and to propose some adjustments for this new activity. During 2021, EDPR reassessed the Operational Risk of the company, executing a bottom-up analysis across all departments, as stated in EDPR’s Operational Risk Policy. Following the growth of the installed capacity at EDPR in recent years, together with the planned growth within the new Business Plan 2021-25, the Operational Risk threshold was accordingly adjusted in EDPR’s Operational Risk Policy and Enterprise Risk Management framework. Finally, EDPR updated its view on the sustainability of RES policies in the geographies where the Company is present and in new potential geographies.

201 53. Risk Map Risk Management at EDPR is focused on covering all risks of the company. In order to have a holistic view of risks, they are grouped in Risk Categories, which are Market, Counterparty, Operational, Business and Strategic. The definition of Risk Cat- egories at EDPR is as follows: • Market Risk – It refers to the risk to EDPR resulting from movements in market prices. Due to the relationship between wind production and energy price, production risk is considered within market risk. In particular, market risk are changes in energy prices, production, interest rates, foreign exchange rates, inflation and commodity prices (other than energy); • Counterparty Risk (credit and operational) – Risk that counterparty to a transaction could default before final settlement of the transaction’s cash flows. A direct economic loss would occur if transactions with the counterparty had positive economic value at the time of default. Even in the case of not defaulting, it may not comply with its contract obligations (timing, quality, etc.), implying additional higher costs due to its replacement or to delays in fulfilling the contract; • Operational Risk (other than counterparty) – Defined as the risk of loss resulting from inadequate or failed internal pro- cesses, people and systems or from external events (such as an increase in equipment default rates, increasing O&M, or natural disasters), including the effect of a loss created by not being able to ensure business continuity; • Business Risk – Potential loss in the company’s earnings due to adverse changes in business margins. Such losses can result above all from a serious increase in equipment prices or changes in the regulatory environment. Changes in elec- tricity prices and production are considered market risks; • Strategic Risk – It refers to risks coming from macroeconomic, political, social or environmental situation in countries where EDPR is present, as well as those coming from a change in competitive landscape, from technology disruptions, from changes in energy markets or from governance decisions (investment decisions criteria, Corporate Governance and Reputational issues). Within each Risk Category, risks are classified in Risk Groups. 1. Market Risk 1. i) Energy price risk EDPR faces limited electricity price risk as it pursues a strategy of being present in countries or regions with long -term visibility on revenues. In most countries where EDPR is present, prices are determined through regulated framework mech- anisms. In those countries with no regulated tariffs, power purchase agreements are negotiated with different off- takers to eliminate electricity and Green Certificate or Renewable Energy Credit (REC) price risks. Despite EDPR’s strategy of eliminating market price risk, EDPR still has some plants with merchant exposure. In Europe, EDPR operates in countries where the selling price is defined by a feed-in-tariff (Portugal, France and Italy) or in markets where, on top of the electricity price, EDPR receives either a pre-defined regulated premium or a green certificate, whose price is achieved on a regulated market (Spain, Belgium, Poland and Romania). EDPR is also developing projects in the UK and in Greece, under contract for differences remuneration schemes. In countries with a predefined regulated premium or a green certificate scheme, EDPR is exposed to electricity price fluctua- tions. Considering current Power Purchase Agreements (PPAs) in place, EDPR is exposed to electricity price risk in Romania, in Poland, in Belgium and partially in Spain. Additionally, in European countries with a green certificate scheme (Romania, Belgium and Poland), EDPR is exposed to fluctuation on the price of green certificates. The US market does not provide a regulated framework system for the electricity price. Nevertheless, renewable generation is incentivized through PTCs (Production Tax Credits) and regional Renewable Portfolio Standard (RPS) programs that allow receiving RECs for each MWh of renewable generation. REC prices are very volatile and depend on the regional supply/de- mand equilibrium in the relevant market.

202 Most of EDPR’s capacity in the US has predefined prices determined by bundled (electricity + REC) long-term contracts with local utilities in line with the Company’s policy of avoiding electricity price risk. Despite existing long term contracts, some EDPR’s plants in the US do not have PPA and are selling merchant with exposure to electricity and REC prices. Additionally, some plants with existing PPAs do not sell their energy where it is produced and are therefore exposed to basis risk (differ- ence in price between the location where energy is produced and that where energy is sold). In Ontario (Canada), the selling price is defined by a long-term feed-in-tariff, thus, there is no electricity price exposure. In Brazilian and Colombian operations, the selling price is defined through a public auction which is later translated into a long - term contract. Electricity price exposure is almost null, with little exposure for the production above or below the con- tracted production. Under EDPR’s global approach to minimize the exposure to market electricity prices, the Company evaluates on a permanent basis, if there are any deviations to the pre-defined limits (measured through EBITDA at risk, Net Income at risk and total merchant exposure). EDPR intends to eliminate Green Certificates and REC price risk with the signing of bundled PPAs with private off-takers, which include the sale of the electricity and the Green Certificate or REC. In some cases, the off-taker may be interested in contracting only the Green Certificate or the REC, thus a GCPA (Green Certificate Purchase Agreement) or a RECPA (REC Purchase Agreement) is signed. In those geographies with remaining merchant exposure, EDPR uses various commodity-hedging instruments in order to minimize the exposure to fluctuating market prices. In some cases, due to the lack of liquidity of financial derivatives, it may not be possible to successfully hedge all existing merchant exposure, after considering PPAs in place. As aforementioned, some US plants have exposure to REC price risk and/or basis risk (difference in electricity price between locations). EDPR hedges REC prices through forward sales and basis exposures through financial swaps or FTR (Financial Transmission Rights). 1. ii) Energy Production Risk The amount of electricity generated by EDPR’s renewable plants is dependent on weather conditions, which vary across locations, from season to season and from year to year. Variation on the amount of electricity that is generated affects EDPR’s operating results and efficiency. Not only the total wind or solar production in a specific location is relevant, but also the profile of production. Wind usually blows more at night than at daytime, when energy prices are lower and the opposite for solar. Generation profile will affect the discount or add-on in price of a plant versus a baseload generation. Finally, curtailment of a plant will also affect its production. Curtailment occurs when the production of a plant is stopped by the TSO (Transmission System Operators) for external reasons to the Company. Examples of cases of curtailment are up- grades in transmission lines or exceptional congestion (high level of electricity generation for available transmission capac- ity). EDPR mitigates wind and solar resource volatility and seasonality through geographical diversification of its asset base in different countries and regions. EDPR acknowledges the correlation between different plants in its portfolio that allows for this geographical diversification, which enables EDPR to partially offset production variations in each region and to keep the total energy generation relatively steady. Currently, EDPR is present in 17 countries: Spain, Portugal, France, Belgium, Poland, Romania, Italy, UK, Greece , Colombia (no generation), Hungary (no generation), South Korea (no generation), Vientam, US, Canada, Brazil and Mexico. Nevertheless, 2021 was a year with generation below the one initially forecasted. EDPR continues to analyze the potential use of financial products to hedge wind risk and might use this product to mitigate risk in specific cases.

203 Profile risk and curtailment risk are managed ex-ante. For every new investment, EDPR factors the effect that expected generation profile and curtailment will have on the output of the plant. Generation profile and curtailment of EDPR’s plants are constantly monitored by EPDR’s Risk department to detect potential future changes. 1. iii) Risks related to financial markets EDPR finances its plants through project finance or corporate debt. In both cases, a variable interest rate might imply signif- icant fluctuations in interest payments. On the other hand, due to EDPR’s presence in several countries, revenues are denominated in different currencies. Conse- quently, exchange rate fluctuations may have a material adverse effect on financial results or on the value of the foreign investment. 1. iii) a) Interest rate risk Given the policies adopted by EDPR Group, current exposure to variable interest rate is not significant and financial cash flows are substantially independent from the fluctuation of interest rates. The purpose of interest rate risk management policies is to reduce the exposure of long-term debt cash flows to market fluctuations, mainly by contracting long term debt with a fixed rate. When long-term debt is issued with floating rates, EDPR settles derivative financial instruments to swap from floating to fixed rate. EDPR has a portfolio of interest-rate derivatives with maturities of up to 14 years. Sensitivity analyses of the fair value of financial instruments to interest-rate fluctuations are periodically performed. With most of interest rate being fixed, main exposure to interest rates arises at refinancing. To protect against this risk, EDPR intends to maintain a balanced maturity profile for its corporate fixed debt, thus, diversifying the risk of bad timing when refinancing occurs. Repricing calendar of debt is continuously monitored together with interest rates in order to detect good timing for restruc- turing debt. Taking into account risk management policy and approved exposure limits, Global Risk Area supports the Finance team in interest rate hedging decisions and the Finance team submits the financial strategy appropriate to each project/location for Management Team’s approval. 1. iii) b) Exchange rate risk EDPR has international operations and is exposed to the exchange-rate risk resulting from investments in foreign subsidiar- ies. Currency exposure in operating plants is to U.S. dollar, Romanian leu, Polish zloty, Brazilian real, British pound, Canadian dollar and Colombian pesos. In addition, EDPR has a marginal fiscal exposure to MXN due to Mexican assets. EDPR hedges risk against currency fluctuations by financing in the same currency as the revenues of the project. When local financing is not available, EDPR hedges debt cash flows though cross currency interest rate swaps. EDPR also hedges net investment (investment after deducting local debt) in foreign currency through cross currency interest rate swaps. Finally, EDPR contracts foreign exchange forwards to hedge the risk in specific transactions, mainly in payments to suppliers which may be denominated in different currencies. EDPR’s hedging efforts minimize exchange rate volatility, but do not eliminate completely this risk due to high costs associ- ated to hedging FX in certain situations.

204 iii) c) Inflation risk In specific projects, regulated remuneration is linked to inflation. Additionally, O&M costs are considered to be linked to infla- tion in most cases. Exposure to inflation in revenues may be naturally hedged with exposure to interest rates and EDPR regularly analyses inflation exposure and its relationship with interest rates to adjust level of interest rate coverage in project finance structures. Exposure to inflation in O&M costs is managed at the moment of the investment decisions, by executing sensitivity analyses. iii) d) Liquidity risk Liquidity risk is the risk of EDPR not meeting its financial obligations. Liquidity risk is mainly related to extreme market move- ments in electricity prices, interest rates, exchange rates or credit markets, which may change the expected cash flow from revenues, opex, margin calls or funding (due to credit downgrades). EDPR tracks liquidity risk in the short term (margin calls, etc.) and in the long term (financing sources) in order to meet stra- tegic targets previously set (EBITDA, debt ratio and others). EDPR’s strategy to manage liquidity risk is to ensure that its liquidity is sufficient to meet financial liabilities when due, under both normal and stressed conditions, and without incurring unacceptable losses or risking damage to EDPR’s reputation. Different funding sources are used such as Tax Equity investors, commercial banks, multilateral organisations, corporate debt and asset rotation in order to ensure long-term liquidity to finance planned projects and working capital. The Directors have estimated cash flows that show that the Group will meet the commitments existing at the close of the 2021 financial year and those foreseen for 2022. 1.iv) Commodity price risk (other than energy) In projects in which there is a significant number of years between investment decision and start of construction, EDPR may be exposed to the price of the materials used in turbine manufacturing, foundations and interconnection through escalation formulae included in the contracts with suppliers. In order to manage this risk, EDPR may hedge the market exposure in OTC/future commodity markets, considering the risks (potential losses) and the cost of the hedge. 2. Counterparty Risk Counterparty credit risk is the risk that the counterparty to a transaction could default before the final settlement of the transaction’s cash flows. An economic loss could occur, either a direct economic loss if the transaction has a positive value at the moment of default (counterparty credit risk) or a replacement cost due to change of the counterparty (counterparty operational risk). 2. i) Counterparty Credit Risk If the transactions or portfolio of transactions with the counterparty has a positive economic value at the time of default, an economic loss would occur. To control credit risk at EDPR, thresholds of Expected Loss and Unexpected Loss are established at company level as defined under Basel Standards and re-evaluated monthly. If the threshold is surpassed by the company as a whole, mitigation measures are implemented in order to remain within the pre-established limit. Additionally, Expected Loss limits are established for each individual counterparty or Group of counterparties (parent and subsidiaries). 2.ii) Counterparty Operational Risk

205 If the transactions or portfolio of transactions with the counterparty do not have a positive economic value at the time of default, it will impact operations. Despite no direct loss at the time of default, the replacement of the counterparty could imply a cost to EDPR due to potential delays, higher contract value with a new counterparty (replacement costs), etc. Construction and O&M subcontractors are counterparties to which EDPR is exposed from an operational point of view. To minimize the probability of incurring in potential replacement costs with counterparties, EDPR´s policy concerning coun- terparty operational risk is managed by an analysis of the technical capacity, competitiveness, credit quality and replacement cost of the counterparty. 3. Operational Risk Operational risk is the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events (such as an increase in equipment default rates, increasing O&M, or natural disasters). Moreover, it includes the risk of the business being disrupted due to internal or external causes (such as a pandemic, cyberattack or IT systems malfunc- tioning), affecting business continuity. 3. i) Development Risk Renewable plants are subject to strict regulations at different authority levels (international, national, state, regional and local) relating to the development, construction, grid interconnection and operation of power plants. Among other things, these laws regulate landscape and environmental aspects, building licenses, land use and land securing and access to the grid issues. While level of exigency might be different depending on the geographies, EDPR acknowledges a trend for legislations to align towards concentrating the most restrictive rules and development risks on the consenting (environmental and urban permissions) and interconnection (electricity connection of the plant to the national grid). In this context, EDPR’s experience gathered in different countries is useful to anticipate and deal with similar situations in other countries. During the development and design phase, EDPR focuses on the optimization of its projects. By mastering the variables, such as choice of locations, layout, etc., the objective is to make our projects more resilient to permitting risks. Additionally, EDPR mitigates development risk by generating optionality, with development activities in 14 different countries (Spain, Portugal, France, Belgium, Poland, Romania, UK, Italy, Greece, US, Canada, Colombia, Brazil and Mexico) and a port- folio of projects in several stages of maturity. EDPR has a large pipeline of projects that provide a “buffer” to overcome potential delays in the development of prioritized projects, ensuring growth targets and being able to compensate permitting delays in some geographies. ii) Execution Risk During the construction of the foundations, interconnection and substation of a plant, and the installation of the equipment, different events (bad weather, accidents, etc.) might occur that could imply an over cost or a delay in the commercial opera- tion date of the plant: • The delay implies a postponement of cash flows, affecting profitability of the investment. • When a plant has a PPA, a delay of the commercial operation date might imply the payment of LDs, with the consequent loss of revenues and the impact on annual financial results. During the design phase, EDPR engineering teams supervise the engineering and the installation method. Construction is subcontracted to technically capable construction companies. In both cases, a critical path analysis is performed to assess the reliability of construction and installation plan. Also, collat- erals may be required to the counterparty following EDPR’s Counterparty Risk Policy. 3.iii) Operation Risk Damage to Physical Assets Risk

206 Renewable plants in construction and in operation are exposed to weather hazards, natural disasters, etc. These risks de- pend on the location. All plants are insured the physical damage during construction and operation. During operation, any natural disaster, weather hazard or accident will be partially insured to revenue losses due to the event. Equipment Performance Risk (O&M costs) Output from renewable plants depends upon the operating availability of the equipment. EDPR mitigates this risk by using a mix of suppliers which minimizes technological risk, avoiding exposure to a unique man- ufacturer. EDPR also engages suppliers through medium-term full-scope maintenance agreements during the first years of operation to ensure alignment with supplier in minimizing technology risk. Finally, for older plants, EDPR has created an Operation and Maintenance (O&M) program with an adequate preventive and scheduled maintenance program. EDPR externalizes non-core technical O&M activities of its renewable plants, while primary and value added activities continue to be controlled by EDPR. 3. iv) Information Technology Risk IT (Information Technologies) risk may occur in the technical network (information network for plants operation) or in the office network (information network of corporate services: ERP, accounting…) EDPR mitigates this risk creating redundancy of servers and control centers of renewable plants. Redundancy is created in a different location to anticipate potential natural disasters, etc. 3. v) Legal claims Risk (compliance, corruption, fraud) EDPR faces potential claims of third parties, corruption and fraud of its employees. EDPR has implemented an internal “Code of Ethics” and an Anticorruption Policy where the company commits to comply with legal obligations in every community where EDPR is established. Additionally, the company Ombudsperson receives all the complaints sent through the “Code of Ethics” channel and decides the appropriate procedure for each one of them. An anticorruption mailbox is also available to report any questionable prac- tice. 3. vi) Personnel Risk EDPR identifies four main risk factors regarding personnel: turnover, health and safety, human rights, and discrimination, violence or behavior against human dignity. • Turnover: A high turnover implies direct costs of replacement and indirect costs of knowledge loss. EDPR mitigates turn- over through constant reassessment and benchmarking of remuneration schemes in different geographies. Additionally, EDPR offers flexibility to its employees to improve work life balance. In 2021, EDPR was elected as “Top Employer” in Spain by the Top Employers Institute. • Health and safety: EDPR has deployed an H&S management system, complying with OHSAS 18001, pursuing the “zero accidents” target. • Human rights: EDPR has committed, through its “Code of Ethics”, to respect international human rights treaties and best work practices. All counterparties which sign a contract with EDPR are committed to respect EDPR’s “Code of Ethics”. • Discrimination, violence or behavior against human dignity: EDPR forbids any kind of discrimination, violence or behavior against human dignity, as stated in its “Code of Ethics”. Strict compliance is enforced, not only through the reporting channel of the Ombudsperson, but also through constant awareness from all employees of the company. vii) Processes Risk

207 Internal processes are subject to potential human errors that may negatively affect the outcome. Internal Audit Department regularly reviews internal processes and recommends the establishment of new controls or the improvement in the imple- mentation of existing procedures. Moreover, business continuity is ensured by a Global Crisis Plan, which defines the procedure to follow for each level of crisis and frames individual emergency plans at activity or asset level. 4. Business Risk 4. i) Regulatory Risk (renewables) The development and profitability of renewable energy projects are subject to policies and regulatory frameworks. The ju- risdictions in which EDPR operates provide different types of incentives supporting energy generated from renewable sources. Remuneration schemes have become less competitive in some countries due to the financial crisis and it cannot be guaran- teed that current support will be maintained in all EDPR’s geographies or that future renewable energy projects will benefit from current support measures. Regulation promoting green energy has been revised or is under revision in some of the countries where EDPR is present. In the US, renewable generation from wind will be incentivized through Production Tax Credits (PTC) at a Federal level for all projects beginning of construction up to 2021. Level of incentives will be progressively fading out. Additionally, wind and solar production is also incentivized through State RPS Programs that allow receiving RECs (Renewable Energy Credit) for each MWh of renewable generation. EDPR is managing its exposure to regulatory risks through diversification, by being present in several countries and through participation as an active member in several wind and solar associations. Regulatory Risk in each of EDPR’s countries is monitored continuously, considering current regulation, potential drafts of new laws, feedback from associations, evolution of installed renewable generation capacity and other inputs. EDPR has devel- oped an internal quantitative assessment of Regulatory Risk that serves as an indicator for changes in supporting schemes. This measure is updated annually in all EDPR´s geographies. Regulatory Risk is also considered ex-ante, at the moment of the investment, through sensitivity analyses that are performed to evaluate its impact in project profitability under different scenarios. 4. ii) Equipment Market Risk Equipment Price Risk Price of equipment is affected, not only by market fluctuations of the materials used, but also by the demand of this equip- ment or a possible increase in trade tariffs and levies. For every new project, EDPR secures the demand risk by engaging in advance with manufacturers, elected through a com- petitive process.

208 5. Equipment Supply Risk The demand for new plants may offset the offer of equipment. Currently, the local component requirement in some geogra- phies (Ex: Brazil) may create this shortfall situation. In the event of a trade war, supply chain of equipment suppliers may be affected, creating further imbalances in local component requirements. EDPR currently faces limited risk to the availability and price increase of equipment due to existing framework agreements with major global suppliers. The Company uses a large mix of suppliers in order to diversify equipment supply risk. For ge- ographies with specific requirements of local component, EDPR does not engage in a project before securing the supply of the equipment. This risk is further explained on EDPR’s annual report due to its current relevance in the business. 6. Strategic Risk 6. i) Country Risk Country Risk is defined as the probability of occurrence of a financial loss in a given country due to macroeconomics, political or natural disasters. EDPR has defined a Country Risk Policy that assesses country risk through an internal scoring based on publicly available data. This internal scoring is compared with external assessments from renowned organisations. Each risk factor affecting country risk is evaluated independently to decide on potential mitigating actions: • Macroeconomic Risk: risks from the country’s economic evolution, affecting revenue or cost time of the investments. • Political Risk: all possible damaging actions or factors for the business of foreign companies that emanate from any po- litical authority, governmental body or social group in the host country. • Natural disaster risk: natural phenomena (seismicity, weather) that may impact negatively in the business conditions Before approving a project in a new geography, EDPR analyses the risk of the new country and compares it to our existing portfolio. Mitigation measures may be decided when this risk is above a certain threshold. In addition, EDPR uses a Security risk index to rank countries from a security and safety standpoint, establishing mitigation measures for employees when above a pre-defined threshold. 6. ii) Competitive landscape In the renewable business, size can be an advantage or disadvantage in specific situations. For example, in development of renewable plants, small and dynamic companies are usually more competitive than larger companies. On the other hand, when participating in tender processes for offshore wind farms, the size of the investment benefits larger companies. Additionally, the consequences of a change in the competitive landscape due to mergers and acquisitions may also be a risk. To mitigate the risks, EDPR has a clear knowledge of its competitive advantages and tries to leverage on them. When EDPR has no advantage versus its competitors, alternatives are considered in order to become competitive. For example, for off- shore wind farms, EDPR has partnered with large companies with previous experience in large electricity generation projects, in order to become a more competitive consortium. 6. iii) Technology disruptions Most renewables are relatively recent technologies, which are continuously evolving and improving efficiency. As such, some initially expensive technologies can become competitive in a relatively short time.

209 EDPR growth focuses in the most competitive renewable technologies at the moment, which are onshore wind, offshore wind and PV solar, but also participates in other innovative projects such as floating offshore wind. 6. iv) Meteorological changes Future estimations of wind and solar production are based on analysis of historical measurements for more than 20 years, and they are considered to be representative of the future. Relevant unexpected meteorological changes could lead to a lower production than the one expected from historical data. When evaluating a new investment, EDPR considers potential changes in the production forecasted, however, the size of the potential deviation in the case of relevant meteorological changes is uncertain. 6. v) Investment decisions criteria Not all projects have the same risk profile. This will depend on merchant exposure of remuneration, construction risk, etc. In order to take proper business decisions, EDPR uses Risk Adjusted Metrics for investment decisions, which take into con- sideration the different risks inherent of each project. 6. vi) Energy Planning Assumptions in future evolution of energy markets affect the profitability of the investments for the period after the fixed remuneration (regulated tariff or PPAs). Structure of electricity markets in most of EDPR geographies (marginal setting price) were not designed to consider a great share of generation from renewable sources with zero marginal price. Thus, the in- crease in renewable generation could lead to lower pool prices in medium term if reforms of electricity markets are not properly undertaken. When investing, EDPR performs sensitivity analyses to stress pool price scenarios for the period without fixed remuneration to understand the robustness of the profitability of the investment. 6. vii) Corporate Organisation and Governance Corporate governance systems should ensure that a company is managed in the interests of its shareholders and other relevant stakeholders. In particular, EDPR has an organisation in place with a special focus on transparency, where the management body (Board of Directors) is separated from the supervision and control duties (Audit, Control and Related Party Transactions Committee). Members of this Committee are invited to the General Risk Committee of EDPR. 6. viii) Reputational risk Companies are exposed to public opinion and today’s social networks are a rapid mean to express particular opinions. A bad reputation could eventually harm financial results of a company in the short and in the long term. Sustainability makes part of the essence of EDPR. EDPR is not only committed in building a better future, but also in doing it well, in an ethical and sustainable manner, consequently limiting reputational risk. 54. Risk functions and framework A corporation can manage risks in two different ways, one risk at a time on a largely and compartmentalized basis, or all risks together within a coordinated and strategic framework. The latter approach is called “Enterprise Risk Management” and is the approach used at EDPR. Risk Management at EDPR is supported by three distinct organisational functions, each on a different role: Strategy (Risk Profiler), Management (Risk Manager) and Controlling (Risk Controller).

210 RISK FUNCTIONS DESCRIPTION Strategy – General risk strategy & policy Global Risk Department provides analytically supported proposals to general strategic issues. Responsible for proposing guidelines and policies for risk management within the company Management – Risk manage- ment & risk business decisions Implement defined policies by Global Risk Responsible for day-to-day operational decisions and for related risk taking and risk Controlling – Risk monitoring Responsible for follow-up of the results of risk taking decisions and for contrasting alignment of operations with general risk policy approved by the board The Risk Committee is the forum where the different Risk Functions discuss the policies to be implemented and control the risk exposure of the company. EDPR’s Risk Committee integrates and coordinates all Risk Functions and assures the link between corporate’s risk appetite and defined strategy and the operations of the company. EDPR created three distinct meetings of the Risk Committee in order to separate discussions on execution of mitigation strategies from those on the definition of new policies: • Restricted Risk Committee: Held every month, it is mainly focused on development risk and market risk from selling energy (electricity price, basis, profile, GCs and RECs). It is the forum to discuss the evolution of projects under development and construction and the execution of mitigation strategies to reduce merchant exposure. It also monitors compliance with risk thresholds defined within risk policies (market risk, counterparty risk, operational risk and country risk). • Financial Risk Committee: Held every quarter, it is held to review main financial markets risks (exchange rates, interest rates and inflation), liquidity risk and credit risk to financial institutions and discuss the execution of mitigation strategies. • Risk Committee: Held every quarter, it is the forum where new strategic analysis is discussed and new policies and pro- cedures are proposed for approval to the Management Team. Additionally, EDPR’s overall risk position is reviewed, to- gether with EBITDA@Risk and Net Income@Risk. 55. Details on the internal control and risk management systems implemented in the company regarding the procedure for reporting financial information With the purpose of not only controlling risks, but also managing them ex-ante, EDPR has created Global Risk policies that are enforceable at a Global Level. These policies are proposed and discussed in the Risk Committee and approved by the Management Team. EDPR’s Enterprise Risk Management Process is inspired on Basel Committee on Banking Supervision’s principles, guidelines and recommendations and is similar to other risk management frameworks. In this respect, performance of risk metrics at EDPR and their compliance with established internal risk limits are assessed on a monthly basis. Additionally, a formal review and update of each Risk Policy, and the adequacy of its limits, is performed every two years INTERNAL CONTROL SYSTEM OVER FINANCIAL REPORTING EDPR has an Internal Control System over Financial Reporting (SCIRF) updated and monitored in line with international standards of Internal Control. This system covers the main aspects of the COSO framework: maintaining a control environment for the preparation of qualified financial information, assessment of the risks of financial reporting, existence of control activities to mitigate risks of error, information and communication and evaluation mechanisms. SCOPE REVISION AND UPDATE The SCIRF Manual includes the annual update of the scope that aims to identify companies, areas and processes that must be included in the scope of SCIRF, according to criteria of materiality and risk, including the risk of error or fraud.

211 The risk analysis included in the scoping process for SCIRF, includes both the different types of risk (operational, economic, financial, technological or legal) and the control objectives of financial reporting (existence and occurrence, completeness, measurement, presentation, disclosure and comparability, and rights and obligations in terms of their potential impact on the financial statements). The results of the updated scope with the methodology outlined are communicated at all levels of the organization involved in the SCIRF and supervised by the Audit, Control and Related Party Transactions Committee. CONTROL ACTIVITIES In documented SCIRF processes and controls, information capture mechanisms are established (including identification of the scope of consolidation) and are specified the steps and checks that are carried out for the preparation of the financial information that will be part of consolidated financial statements. The procedures for the review and approval of financial information are provided by the areas of Planning and Control, and Administration, Consolidation and Tax Financial information is supervised in the scope of its competences by the Audit, Control and Related Party Transactions Committee, prior to the formulation of the accounts by the Board of Directors. The SCIRF includes control activities related to these processes, embodied in Entity Level Controls, Process Controls and General Computer Controls. These processes include review and approval activities of the financial information which are described in the processes of elaboration of individual accounts, preparation of consolidated accounts and processing of consolidated financial statements. EDPR has descriptions of Competency Profiles for the Positions to be carried out in the exercise of the main features of each position that includes a description of the main responsibilities. These include the descriptions of the key positions of those involved in the preparation of financial information. These descriptions include responsibilities in the preparation of financial information and compliance with internal control procedures. The documentation of processes and associated controls designed include among others, the completion of closure activities by completing monthly closing checklists by entity, setting time limits for the closures, the identification of the relevance of the operations in order to be reviewed at the appropriate level, conducting analytical reviews of financial information, the existence of limitations in systems to prevent erroneous records or access by unauthorized persons, analysis of deviations from the budget, the analysis by the Management Team of relevant and significant facts that could cause a significant impact on the accounts, or the allocation of responsibilities for calculating amounts to be provisioned for them to be carried out by authorized personnel with the right skills. In addition to the mentioned processes, major transactional processes resulting from the scope are documented. The de- scription of the activities and controls are designed with the aim of ensuring the registration, evaluation, appropriate presen- tation and disclosure of transactions in financial reporting. Control activities of EDPR’s SCIRF also include those relating to systems and information technology (Computer General Controls) following an international reference, the COBIT framework (Control Objectives for Information and related Tech- nologies). The importance of this area is that information systems are the tools with which financial information is prepared, and is therefore relevant for transactions conducted with them. These control activities include those related to access control to applications and systems, segregation of duties, manage- ment of corrective and preventive maintenance, new projects implementation, administration and management of the sys- tems, facilities and operations (back-ups, security incidents) and their proper monitoring and planning. These activities are developed taking into account the requirements of control and supervision. Among the activities of SCIRF’s scope update, there is a periodic analysis of the existence of service suppliers that perform relevant activities in relation to the processes of preparing financial information. SCIRF SUPERVISION The Audit, Control and Related Party Transactions Committee supervises the SCIRF in the scope of the exercise of their activities through the monitoring and supervision of the developed mechanisms for SCIRF’s implementation, evolution and evaluation, and the results of the scope analysis and the extent of the situation in terms of coverage. To this extent, the Internal Control Area assists the Audit, Control and Related Party Transactions Committee. EDPR has an Internal Control area, integrated in the Compliance and Internal Control Department, which report to the CEO. The Audit, Control and Related Party Transactions Committee supervises the Internal Control area activities. The main functions of the Internal Control area are set out in the SCIRF Manual, which includes, among others, the evaluation of the activities of internal control systems, including the internal control system over financial reporting.

212 Internal Control supports the Audit, Control and Related Party Transactions Committee in supervising the implementation and maintenance of SCIRF and reports the results of the evaluation, improvement actions identified and their evolution. The entity has action plans for improvement actions identified in SCIRF’s assessment processes, which are accompanied and supervised by the Internal Control area, considering their impact on the financial information. Also in the year 2021, as in previous years, a process of self-certification was made by the heads of the various controls and Entity Level Control owners regarding proper documentation update on SCIRF controls and processes in their area of re- sponsibility and the implementation of controls with corresponding evidence. Finally, in 2021 the Internal Audit Department has performed the audit “Review of the SCIRF Model” with the result of an “acceptable evaluation of existing Internal Control”, which is the best evaluation. SCIRF EVALUATION Besides the monitoring and evaluation activities described in the preceding paragraph, in case the auditors identified internal control weaknesses in the scope of their financial audit work, they are expected to communicate these circumstances to the Audit, Control and Related Party Transactions Committee, which regularly monitors the results of the audit work. Additionally, in 2021 the EDPR Group decided to have its SCIRF audited by the external auditor. As a result of its evaluation, the external auditor issued a report with a favorable opinion on the SCIRF of the EDPR Group, according to ISAE 3000 (International Standard on Assurance Engagements 3000), included in Annex II of this Chapter 5 of the Annual Report. CORPORATE COMPLIANCE The implementation of a solid corporate culture of integrity and transparency has always been a priority for EDPR, structuring its supervision and monitoring, through a regulatory compliance conduct basis and through the adoption of ethical values and principles; both consolidated as central elements of its business model. Taking into account the Group's priority, the Compliance Model has evolved over the years: • During 2016 and 2017, the Compliance Officer position and the Criminal and Legal Risk Prevention Model (Specific Compliance Model) were created. • During 2018, the Company completed the first update of the Criminal Compliance Model and started working on the definition of a criminal risk matrix at an international level including an inventory of the potential risks and its controls in each of the geographies where EDPR operates. • In June 2019, the Compliance Area was created to support and provide assistance to the Compliance Officer. In February 2020, with the commitment of strengthening the Compliance culture and to comply with the international standards in Corporate Governance, the area evolved to the Department of Compliance and Internal Control – a new department which reports, directly, to the CEO. Additionally, EDPR has developed a Compliance Channel which allows any employee, supplier, contractor, client or any person or entity outside the Company, who has indications or doubts of behavior contrary to the law and/or that may imply the materialization of a criminal risk, to inform about it (complianceofficer@edpr.com). The bylaws of this Channel are available at the intranet and website of the Com- pany. In 2021, 3 claims were submitted through the Compliance Channel of EDPR; 2 of them are closed (one as non-founded and one as founded) and one is still open. • In 2021, a main objective has been the definition of a Global Compliance Model, which applies to the whole Group, maintaining the idea of establishing Compliance as an strategic part of EDPR's corporate culture. GLOBAL COMPLIANCE MODEL In the definition of the Global Compliance Model, the Global Compliance structure has been defined, and a great effort has been made to develop a robust set of policies and procedures for the Group, which includes the following: • The Compliance Standard, approved by the Board of Directors in November 2021, which establishes the basic prin- ciples, the methodological rules that govern the carrying out of the Compliance function and the specific Compliance functions of all employees.

213 • The Code of Conduct for Top Management and Senior Financial Officers, approved by the Board of Directors in July 2021, that reinforces and complements the Code of Ethics, and reflects the commitment of the people who have been given the responsibility and power to carry out the supervisory and administrative functions of the EDPR Group. The Global Compliance Model integrates specific models depending on the risks affecting the Group: • A specific Integrity Compliance Program focused on the prevention of corruption and bribery risks. EDPR has a zero- tolerance approach to bribery and corruption and is committed to act professionally, fairly and with integrity in all business dealings and relationships wherever we operate. For this reason, the specific Integrity Compliance Program has as its central axis the Integrity Policy, which replaces the previous Anticorruption Policy; it has been approved by the Board of Directors in July 2021. The Integrity Policy has been complemented by other procedures that facili- tate the application of this Policy. Among others: o The Donations and Sponsorships Procedure, approved by the Management Team in June 2021. o The Offers and Events Procedure, approved by the Management Team in June 2021. o The Conflict of Interest Procedure, approved by the Management Team in June 2021. o The Integrity Due Diligence Procedure and the Procedure for relationship with Public Officials and Politically Exposed Persons, approved on 2020 and developed during 2021 through different electronic platforms. The creation of a technological platform for third-party analysis, which can be used by all Group employees, is noteworthy. • A specific Criminal Compliance Program focused on the prevention of criminal risks in Spain taking into considera- tion the regulation in Spain. o During this 2021 the Criminal Compliance Policy has been updated (initially approved in December 2017). o The risk and control matrix has been updated. All the Areas/departments of EDPR Group have reviewed the assigned controls and have validated the applicable controls (self-assessment). o A Control Audit Plan has been established and the controls assigned in the Plan have been audited by an independent third party. o In addition, the Risk Assessment Methodology has been updated in order to have a more objective risk assessment. • A specific Personal Data Protection Program focused on the protection of personal data to which EDPR has access. In this context, EDPR has been strengthening its management system to ensure the adequacy of EDPR Group's entities to the applicable legal requirements regarding Data Protection. The specific Data Protection Compliance Program has as its central axis the Data Protection Policy, approved by the Board of Directors in 2020.To this end and during 2021, a set of methodologies and procedures have been defined: o An Employees Privacy Notice, a Candidates Privacy Notice, a Website Privacy Notice, and a Cookies Man- agement Notice approved by the Management Team in May 2021. o Data Storage and Destruction Procedure, approved by the Management Team in May 2021. o Security breach notification Methodology, approved by the Management Team in June 2021. o Privacy by Design/Default Methodology, approved by the Management Team in November 2021. o Data Processors Management Methodology, approved by the Management Team in November 2021. All this normative development has implied a strong work to make known the new policies and procedures of the Group, having made special focus this year in training and communication in the field of Compliance. TRAINING AND COMMUNICATION Training and communication are fundamental tools to strengthen and disseminate the ethic and integrity culture. In this sense, the following activities have been developed: (i)Training for all the Group employees on Integrity Due Diligence Pro- cedure and Procedure for relationship with Public Officials and Politically Exposed Persons; (ii) a GDPR Global Training; (iii) a Conflict of interest Procedure Training; (iv) a Gifts and Events Procedure Training; (v) a GDPR level 2 training; (vi) an Integrity Policy Training; (vii) a Criminal Compliance training; and viii) a GDPR Roulette.

214 These trainings have been complemented with communication activities. In addition, specific communications have been made on: (i) a welcome day, (ii) a presentation of the department, (iii) a communication about the GDPR Anniversary, (iv) a specific communication of Compliance in the Group magazine, (v) a Speak up culture communication and (vi) a communica- tion for the Anticorruption day, among others. REPORTING SYSTEM Lastly, the reporting system to Top Management and Senior Management has also been improved, establishing reports about the Global Compliance Model to: (i) the CEO (monthly), (ii) the Audit Control and Related Party Transactions Committee (CAUD) (quarterly), (iii) the Management Team (yearly) and (iv) to the Board of Directors (yearly). OPERATION, METHODOLOGY AND CERTIFICATIONS The entire operation and methodology for the management of the Criminal Compliance Program and the Integrity Compli- ance Program has been compiled in an internal departmental document called Integrated Management System for Criminal Compliance and Antibribery Handbook, approved by the Compliance Officer in October 2021. Additional documents, for the support and documentation of this system, have been also drafted. All this development has allowed EDPR to obtain the UNE 19601 and ISO 37001 certifications. IV. Investor Assistance 56. Investor Relations department EDPR seeks to provide to shareholders, investors, financial analysts and other stakeholders and the market in general, all the relevant information about the Company and its business environment, on a regular basis and whenever a relevant fact takes place. The promotion of transparent, consistent, rigorous, easily accessible, and high-quality information is essential to an accurate perception of the Company’s strategy, financial situation, accounts, assets, prospects, risks, and significant events. EDPR, therefore, looks to provide the market with accurate information that can support them in making informed, clear and concrete investment decisions. The Investor Relations Department was created to ensure a direct and permanent contact with all market related agents and stakeholders, to guarantee effective communication, equality between shareholders and to prevent imbalances in the information access. The EDPR Investor Relations Department (IR) is the intermediary between EDPR and its actual and potential shareholders, the financial analysts that follow Company’s activity, all investors and other members of the financial community. The main purpose of the department is to guarantee the principle of equality among shareholders, by preventing asymmetries in the access of the information and reducing the gap between market perception and Company’s strategy and intrinsic value. The Investor Relations department centralizes all relevant and material information that could impact EDPR share price. This information is prepared by the different departments of EDPR, with the support when necessary of external experts, and always managed in a strictly confidential basis. The department responsibility also comprises developing and implementing EDPR’s communication strategy and preserving an appropriate institutional and informative relationship with the financial market, the stock exchange at which EDPR shares trade and the regulatory and supervisory entities (CMVM – Comissão de Mercado de Valores Mobiliários – in Portugal and CNMV – Comisión Nacional del Mercado de Valores – in Spain. EDPR is clearly aware of the importance of detailed and transparent information, delivered on-time to the market. Conse- quently, EDPR publishes Company’s price sensitive information before the opening or following the closing of the Euronext Lisbon stock exchange through CMVM’s information system and, simultaneously, make that same information available on the website investors’ section and through the IR department’s mailing list. In 2021, EDPR made more than 46 market noti- fications, in addition to quarterly, semi-annual and annual results presentations, handouts and operating data statement elaborated by the IR Department. In addition, the IR Department also elaborates key data files and interim presentations which are available on the website investors’ section.

215 On each earnings announcement, EDPR promotes a conference call and webcast, opened to the market in general, at which the Company’s management updates the market on EDPR’s activities. On each of these events, shareholders, investors and analysts had the opportunity to directly submit their questions and to discuss EDPR’s results as well as the Company’s outlook and strategy. EDPR IR Department is coordinated by André Fernandes and is located at the Company’s head offices in Madrid, Spain. The department structure and contacts are as follows: IR Contacts: • André Fernandes, Head of Planning & Control, Investor Relations and Sustainability • Calle Serrano Galvache, 56; Centro Empresarial Parque Norte; Edificio Olmo – 7th floor; 28033 – Madrid – España • Website: www.edpr.com/en/investors • E-Mail: ir@edpr.com • Phone: +34 902 830 700 EDPR IR Department was in continuous contact with capital markets agents, namely shareholder and investors, along with financial analysts who evaluate the Company. In 2021, as far as the Company is aware, sell-side analysts issued more than 89 reports evaluating EDPR’s business and performance. At the end of the 2021, as far as the Company is aware of, there were 23 institutions elaborating research reports and following actively EDPR activity. As of December 31 st 2021, the average price target of those analysts was of Euro 23.00 per share with 12 “Neutral”, 8 “Buy” and 3 “Sell” recommendations. COMPANY ANALYST PRICE TARGET DATE RECOMMENDATION Bank of America Mikel Zabala € 25.00 04-Mar-21 Neutral Barclays Jose Ruiz € 20.10 01-Jul-21 Equalweight Bestinver Daniel Rodríguez € 21.70 13-Apr-21 Buy Berenberg Lawson Steele € 24.50 31-Aug-21 Buy Bernstein Meike Becker € 26.00 02-Jul-21 Outperform BNP Paribas Manuel Palomo € 23.70 03-Nov-21 Neutral CaixaBank BPI Flora Trindade € 27.00 15-Nov-21 Buy Citi Ayesha Khalid € 21.40 29-Jul-21 Neutral Commerzbank Tanja Markloff € 19.00 23-Mar-21 Hold Credit Suisse Christopher Leonard € 22.00 16-Dec-21 Neutral Deutsche Bank Olly Jeffery € 22.50 26-Jul-21 Hold Goldman Sachs Alberto Gandolfi € 27.00 10-Nov-21 Buy HSBC Charles Swabey € 26.00 07-Oct-21 Buy JB Capital Jorge Guimarães € 24.00 19-Oct-21 Neutral JP Morgan Javier Garrido € 24.50 30-Sep-21 Overweight Kepler Cheuvreux Jose Porta € 27.50 01-Sep-21 Buy Morgan Stanley Arthur Sitbon € 24.00 10-Sep-21 Equalweight MedioBanca Sara Piccinini € 22.20 02-Aug-21 Neutral ODDO BHF Philippe Ourpatian € 17.40 03-Nov-21 Sell RBC Fernando Garcia € 19.50 28-Jun-21 Equalweight Santander Bosco Muguiro € 20.45 05-Aug-21 Sell Société Générale Jorge Alonso € 21.00 19-Nov-21 Sell UBS Gonzalo Sanchez-Bordona € 22.45 08-Sep-21 Neutral

216 57. Market Relations Representative EDPR representative for relations with the market at CNMV is Rui Teixeira, Chief Financial Officer; while at CMVM the rep- resentative is Rui Antunes, former Head of Investor Relations. 58. Information Requests During the year, IR Department received more than 250 information requests and interacted more than 300 times with in- stitutional investors. On average, information requests were replied in less than 24 hours, with complex requests being re- plied within one-week time. As of December 31 st 2021 there was no pending information request. V. Website – Online information 59-65. EDPR considers online information a powerful tool in the dissemination of material information, updating its website with all the relevant documents. Apart from all the required information by CMVM and CNMV regulations, EDPR website also carries financial and operational updates of Company’s activities ensuring an easy access to the information. EDPR website: www.edpr.com INFORMATION LINK Company information www.edpr.com/en/who_we_are Corporate by-laws and bodies/committees’ regu- lations www.edpr.com/en/investors/corporate-governance/company-data Members of the corporate bodies and manage- ment structure https://www.edpr.com/en/investors/corporate-governance/governing-bod- ies-and-management-structure Market relations representative, IR department www.edpr.com/en/investors Information channels www.edpr.com/en/edpr Financial statements documents www.edpr.com/en/investors/investors-information/reports-and-results Corporate events Agenda www.edpr.com/en/investors

217 E. Remuneration I. Power to establish 66. Competences to determine the Remuneration of the Corporate Bodies and Executive Staff The Appointments, Remunerations and Corporate Governance Committee is a permanent body belonging to the Board of Directors with an informative and advisory nature. Its recommendations and reports are non-binding. The Appointments, Remunerations and Corporate Governance Committee has no executive functions. The main functions of the Appointments, Remunerations and Corporate Governance Committee are to assist and inform the Board of Directors regarding the appointments (including by co-option), re-elections, dismissals, and the remuneration of the Directors and executive staff. It also assumes the functions related to the reflection on the Corporate Governance structure and on its efficiency and informs the Board of Directors on general remuneration and incentive policies and incentives for Board mem- bers and executive staff. As such, the Appointments and Remunerations Committee is the body responsible for proposing to the Board of Directors the remuneration of the Executive and Non-Executive Directors, the members of the Board Committees and the Executive Staff; the Remuneration Policy; the evaluation and compliance of the KPI’s (Key Performance Indicators); the annual and multi annual variable remuneration, if applicable. The Board of Directors is responsible for the approval of the above-mentioned proposals except the Remuneration Policy which is approved by the General Shareholders’ Meeting. The Board of Directors also evaluates with an annual periodicity its own performance and the performance of its delegated Committees. The evaluation of the performance of the Board of Directors, is then additionally submitted for the approval of the General Shareholders’ Meeting. The proposal on the Remuneration Policy is submitted by the Board of Directors to the approval of the General Shareholders’ Meeting as an independent proposal, which will be in effect for a maximum of a three-year period. According to the Com- pany’s Articles of Association the Board of Directors remuneration is subject to a maximum value that can only be modified by a Shareholders’ agreement. II. Appointments, Remunerations and Corporate Governance Committee 67. Appointments and Remunerations Committee composition. Relevant service providers in 2021. The Composition of the Appointments, Remunerations and Corporate Governance Committee is reflected on topic 29 of the report. The Company has not stablished any restrictions within its Articles of Association, Regulations or internal policies limiting the competence of the Appointments, Remunerations and Corporate Governance Committee to hire any consulting services that may be considered necessary to carry out its duties; additionally in case such services would be hired, it should be noted that they should be rendered independently, ensuring that the service provider do not provide any other services to EDPR or to any company in controlling or group relationship. In 2021 the Committee hired the services of Spencer Stuart for the elaboration of a benchmark of Non-Executive Directors and Independent Chairpersons, and the provision of these services strictly complied with the referred requirements.

218 68. Knowledge and experience regarding Remuneration Policy The members of the Appointments, Remunerations and Corporate Governance Committee have knowledge and experience regarding Remuneration Policy. III. Remuneration structure 69. Remuneration Policy Pursuant to Article 26 of the Company’s Articles of Association the Directors shall be entitled to a remuneration which con- sists of a fixed amount to be determined annually by the General Shareholders’ Meeting for the whole Board of Directors. The above-mentioned article also establishes the possibility of the Directors of receiving attendance fees or being remuner- ated with Company shares, share options, or other securities granting the right to obtain shares or by means of share- indexed remuneration systems. In any case, the system chosen must be approved by the General Shareholders’ Meeting and comply with current legal provisions. The total amount of the remunerations that the Company will pay to its Directors shall not exceed the amount determined by the General Shareholders’ Meeting. The maximum remuneration approved by the General Shareholders’ Meeting for all the members of the Board of Directors is EUR 2,500,000 per year. Pursuant to Article 26.4 of the Company’s Articles of Association, the rights and duties of any kind derived from the condition of Board Member shall be compatible with any other rights and obligations either fixed or variable that could correspond to the Board Members as a consequence of other employment or professional engagements, if any, carried out in the Company. Variable remuneration resulting from said contracts or from any other relationship, including being a Board Member, will be limited to a maximum annual amount to be established by the General Shareholders’ Meeting. The maximum annual amount approved by the General Shareholders’ Meeting for the variable remuneration for all the ex- ecutive members of the Board of Directors is EUR 1,000,000 per year. EDPR, in line with EDP Group corporate governance practices, has signed an Executive Management Services Agreement with EDP, under which the Company bears the cost for such services to some of the members of the Board of Directors to the extent their services are devoted to EDPR. The Non-Executive Directors only receive a fixed remuneration, which is calculated on the basis of their work as Directors and a complement as Member or Chairperson of the Appointments, Remunerations and Corporate Governance Committee and/or to the Audit, Control and Related Party Transactions Committee. Such amounts are cumulative, except for the Chair- man of the Board of Directors who does not receive any complement derived from his role at any Committee. EDPR has not incorporated any share remuneration or share purchase options plans as components of the remuneration of its Directors. No Director has entered into any contract with the Company or third parties that have the effect of mitigating the risk inherent in the variability of the remuneration established by the Company. In EDPR there are not any payments for the dismissal or termination of Director's duties. In 2021, the Remuneration Policy for the Directors of the Company was submitted to the General Shareholders’ Meeting for approval.

219 70. Remuneration Structure The Remuneration Policy applicable for 2020-2022 was approved by the General Shareholders’ Meeting (the “Remuneration Policy”). This Remuneration Policy maintains a structure with a fixed remuneration for all members of the Board of Directors, whereas for the Executive Directors also defines a fixed and a variable remuneration, with an annual component and a multi- annual component. 71. Variable Remuneration Variable annual and variable multi-annual remuneration apply to the Executive Directors. The variable annual remuneration may range from 0 to 102% over the annual fixed remuneration and the multi-annual remuneration from 0 to 102% over the annual fixed remuneration for the CEO and CFO. The key performance indicators (KPIs) used to determine the amounts of the annual and multi -annual variable remuneration for each year of the term are proposed by the Appointments, Remunerations and Corporate Governance Committee with the aim of aligning them with the strategic grounds of the Company: growth, risk control and efficiency. For the year 2021 the KPIs were: KEY PERFORMANCE INDICATOR CEO / CFO WEIGHT WEIGHT EDPR RESULTS Total Shareholder re- turn 15% 100% TSR vs. Wind peers & Psi 20 100% 100% Shareholders 80% 60% Operating Cash Flow (€ million) 10% 100% AR/Sell-down + TaxEquity (€ million) 10% 100% EBITDA+ sell downgains (€ million) 10% 100% Net Profit (€ million) 10% 100% Core Opex Adjusted (€ thousand/MW) 10% 100% Projects with FID (% of total ’19-’22 additions in BP) 10% 100% Clients 10% Renewable Capacity Built (in MW) 10% 100% Assets & Operations 10% Technical Energy Availability (%) 5% 100% Capex per MW (€ thousand) 5% 100% Environment & Commnunities 5% Certified MW % 5% 100% Innovation & partners 5% H&S frequency rate (employees + contractors) 5% 100% People Management 10% People Management 10% 100% Remuneration Committee 5% 100% Appreciation Remuneration Committee 100% 100%

220 According to the Remuneration Policy approved by the General Shareholders’ Meeting, the maximum variable remuneration (annual and multi-annual) is applicable if all the above mentioned KPI’s were achieved and the performance evaluation is equal or above 110%. 72. Deferral period applicable to variable Remuneration In line with corporate governance practices, the Remuneration Policy incorporates the deferral for a period of three years of the multi-annual variable remuneration, being the relevant payment conditioned to the lack of any willful illicit action, known after the appraisal and which endangers the sustainable performance of the company. The amounts paid in application of such deferral policy during 2021 for the multiannual accrued in 2018 are reflected in topic 78 of this Chapter 5 of the Annual Report. 73. Variable Remuneration based on shares EDPR has not allocated variable remuneration on shares and does not maintain Company shares that the Executive Directors have had access to. 74. Variable Remuneration based on options EDPR has not allocated variable remuneration on options. 75. Annual Bonus and non-monetary benefits The key factors and grounds for any annual bonus scheme are described on topics 71 and 72. No non-monetary benefits are paid by EDPR to its Board Members, except for a company car for the Chairman of the Board of Directors, that in 2021 corresponded to an amount of €93 488,74 and the retirement savings plan for Executive Directors referred in the following section. 76. Retirement Savings Plan The retirement savings plan applicable to 2021, which is included within the Remuneration Policy applicable for 2021 was defined and proposed by the Appointments, Remunerations and Corporate Governance Committee to the Board of Directors for its submission to the General Shareholder’s Meeting, which approved it on its meeting held on April 12 th , 2021. For the Executive Directors of EDPR (Miguel Stilwell d’ Andrade and Rui Teixeira) it was stablished in a 5% of the fixed fee under the Management Services Agreement. For the year 2021, EDPR paid a fee to EDP under the Management Services agreement of 19,200€ corresponding to the retirement saving plan of Miguel Stilwell d’ Andrade, and of 14,500€ corresponding to the retirement saving plan Rui Teixeira. IV. Remuneration disclosure 77. Board of Directors remuneration Below the list of EDPR Directors as of December 31 st 2021, and the amounts paid by EDPR either (i) as remuneration to them or (ii) as fee to EDP under the Management Services Agreement for their services (not remuneration), marked in green. The figures below reflect the period of 2021 in which each relevant Director was member of the Board: Ana Paula Marques and Joan Avalyn Dempsey were appointed by co-option on January 19 th , 2021, and António Gomes Mota, Miguel Nuno Simões Nunes Ferreira Setas, Rosa García García, and José Manuel Félix Morgado were appointed by the Shareholders’ meeting held on April 12 th , 2021.

221 DIRECTOR REMUNERATION FEES MANAGEMENT SERVICES AGREEMENT EDP-EDPR EXECUTIVE DIRECTORS Miguel Stilwell d’Andrade - 384,000€* Rui Teixeira - 290,000€* NON-EXECUTIVE DIRECTORS António Gomes Mota** 172,500€ Vera Pinto - 45.000€* Ana Paula Marques - 45,000€* Miguel Setas - 33,750€* Manuel Menéndez Menéndez 60,000€ Acácio Jaime Liberado Mota Piloto** 60,000€ Allan J.Katz 60,000€ Joan Avalyn Dempsey 56,250€ Rosa García** 48,750€ José Félix Morgado** 48,750€ Sub- Total 506,250€ 797,750€ Total 1,304,000€ *These amounts correspond to the service fee paid by EDPR to EDP under the Management Services Agreement for the services rendered in 2021 by such director. In addition, EDPR pays to EDP a 5% of such service fee which is applied to the retirement savings plan described in topic 76 of this Chapter 5 of the Annual Report. **These Directors also received remuneration for their Chairmanship/membership in the Delegated Committees. The amounts paid by EDPR for the Directors that presented their resignation during 2021 for their functions as Members of the Board were as follows: DIRECTOR TOTAL FIXED (€) EXECUTIVE DIRECTORS João Manso Neto 0 Duarte Bello* 5,150€ Spyridon Martinis* 5,150€ Miguel Ángel Prado* 0 NON-EXECUTIVE DIRECTORS Antonio Mexia 0 António Nogueira Leite** 22,500€ Francisco Seixas da Costa** 22.500€ Conceição Lucas** 22.500€ Alejandro Fernández de Araoz Gómez-Acebo 22.500€ TOTAL 100,300€ *Duarte Bello, Spyridon Martinis and Miguel Angel Prado Martinis, for the relevant period of 2021 corresponding to each of them, received their remuneration as Directors as described on the table above and as Executive Directors, as described on topic 78. **These Directors also received remuneration for their Chairmanship/membership in the Delegated Committees. The total amount paid by EDPR in 2021 either (i) as remuneration and (ii) as fee to EDP under the Management Services Agreement, for the services performed by its Directors as members of its Board was of 1.404.300€, which is below the maximum amount agreed by the Shareholders’ Meeting (2,500,000€).

222 78. Remuneration from other Group Companies The members of the Board of Directors as of end of December 2021 do not receive any payment from any company under EDPR control or subject to EDPR common control. Notwithstanding the above, the following Executive Board Members that resigned during 2021, received the amounts below paid by other Group Companies of EDPR corresponding to the period of 2021 before their resignation: Duarte Bello and Spyridon Martinis up to January 19 th , 2021; and Miguel Angel Prado up to February 22 nd , 2021. DIRECTOR PAYER FIXED VARIABLE ANNUAL VARIABLE MULTI- ANNUAL VARIABLE PLURI- ANNUAL TOTAL Duarte Bello EDP Energías de Portugal, S.A. Sucursal en España 11,878€ 154,534€ 128,975€ 154,425€ 449,812€ Miguel Ángel Prado EDPR North America LLC 67,810$ 191,522$ 263,428$ 217,748$ 740,508$ Spyridon Martinis EDP Energías de Portugal S.A. Sucursal en España 11,878€ 137,791€ - 154,425€ 304,094€ 79. Remuneration paid in form of profit sharing and/or bonus payments In EDPR there is no payment of remuneration in the form of profit sharing and/or bonus payments and the reasons for said bonuses or profit sharing being awarded. 80. Compensation for contract termination of Board Members In EDPR there is no compensation paid or owed to former Executive Directors concerning contract termination during the financial year. 81. Audit, Control And Related Party Transactions Committee Remuneration Except in the case of the Chairperson of the Board of Directors, the directors that are also members/chairperson of the Del- egated Committees receive for these functions a complement to their fixed remuneration as members of the Board. Below the list of members of the Audit, Control and Related Party Transactions Committee as of December 31 st 2021, and the amounts paid by EDPR as remuneration to them for the functions performed at this body. The figures below reflect the period of 2021 in which each relevant Director was member of the Committee, provided that Rosa García García, and José Manuel Félix Morgado were appointed on April 12 th , 2021. COMMITEE MEMBER POSITION REMUNERATION Acacio Piloto Chairman 50,000€ Rosa García García Vocal 18,750€ José Félix Morgado Vocal 18,750€

223 The amounts paid by EDPR to the members of the Audit, Control and Related Party Transactions Committee that presented their resignation during 2021 for their functions at this Committee were as follows: COMMITEE MEMBER POSITION REMUNERATION Antonio Nogueira Leite Vocal 7,500€ Francisco Seixas Vocal 6,250€ 82. Remuneration of the Chairperson of the General Shareholders’ Meeting In 2021, José António de Melo Pinto Ribeiro chaired one meeting (Extraordinary Shareholders’ Meeting held on February 22 nd ) before the definitive expiration of his mandate, and the remuneration paid for the provision of these services as Chairman of the General Shareholders’ Meeting of EDPR was EUR 15,000. Based on the proposal submitted by the Appointments, Remunerations and Corporate Governance Committee, and given the referred expiration of the mandate of the former Chairman of the Shareholders’ Meeting, in 2021 it was decided to adopt the general practice followed under the personal law of the Company (Spanish one) that allows the Shareholders Meeting to be chaired by the Board of Directors Chairman, approving at the Extraordinary Shareholders’ Meeting held in February 22 nd the related amendment to the bylaws. Therefore, the Ordinary Shareholders’ Meeting held on April 12 th , 2021, was chaired by the Chairperson of the Board of Directors (who in that moment was Miguel Stilwell de Andrade). V. Agreements with remuneration implication 83-84. EDPR has no agreements with remuneration implication. For avoidance of doubt, the Company has not adopted any mechanism that imply payments or assumption of fees in the case of change in the composition of the managing body (Board of Directors), and which could be likely to harm the free transferability of shares and a shareholder assessment of the performance of the members of this managing body. VI. Share-allocation and/or Stock Option Plans 85-88. EDPR does not have any Share-Allocation and/or Stock Option Plans.

224 D. Related-Party transactions I. Control mechanisms and procedures 89. Related-Party Transactions Controlling Mechanisms The Spanish Companies Act has been recently amended by the law 5/2021, which among others, sets a new regulation and requirements for Related Party Transactions with regards to the definition of Related Party Transactions, and the approval and disclosure procedures of these type of operations. As such, the new definition of Related Party Transactions under Spanish Law considers those performed by a company or its subsidiaries, with Directors, shareholders holding a 10% or more of the voting rights or represented at the Board of the company, or with whomever that shall be considered as related party under the International Accounting Standards. With regards the competence to approve Related Party transactions, as of such amendment, it has been stablished an assignation of competence to different governing bodies depending on the amount as follows: • The Shareholders Meeting: transactions of an amount equal or above a 10% of the total assets according to the last annual balance sheet. These transactions shall be submitted together with a supporting report issued by the Audit Com- mittee of the Company. • The Board of Directors: transactions of an amount below a 10% of the total assets according to the last annual balance sheet. These transactions shall be also submitted together with a supporting report issued by the Audit Committee of the Company. • Delegated Bodies: the Board of Directors may delegate the approval of: (i) transactions performed between companies of the same group that are performed in the ordinary management of the company and under market conditions, and (ii) that are executed under contracts with standardized terms that are wholesale applied to a high number of clients under prices or tariffs generally established by the supplier of the goods or services, the amount of which does not exceed the 0,5% of the net amount of the annual company business value. The transactions approved by the delegated body will not require the issuance of the Audit Committee report, but the Board shall establish a periodic internal reporting and control procedure involving the Audit committee, which will verify the fairness and transparency of the transactions and the compliance with the applicable legal criteria. Likewise, this new regulation foresees new disclose obligations regarding these type of transactions, stating the obligation to made publicly available the information of certain Related Party Transactions which amount exceeds: i) 5% of the total assets, or ii) 2,5% of the annual company turnover. This disclosure shall be made through the publication at the Company’s website and at the CNMV, latest upon execution. The announcement shall be released together with a report issued by the Audit Committee including: (i) the information regarding the nature of the operation and the relation with the Related Party, (ii) the identity of the Related Party, (iii) the date and value of the transaction, and (iv) any other information necessary to appraise that the operation is fair and reasonable for the company and for the non-Related Party shareholders. In light of the above, on July 27 th , 2021, the Board of Directors approved to implement the necessary adjustments in the process of analysis and approval of Related Party Transactions, and in particular resolved to take the following decisions: i. To approve the delegation in the Audit, Control and Related Party Transactions Committee of the competence to approve Related Party Transactions that are delegable under the law. ii. To approve a procedure for reporting and control of such transactions involving the Audit, Control and Related Party Transactions Committee. iii. To approve a new definition of Related Party Transactions to be regulated under the Audit, Control and Related Party Transactions Committee, considering as Related Party the following:(i) any company of the EDP Group, (ii) any company in which both EDPR SA and a Related Party have a stake, (iii) any shareholder holding a 10%

225 or more of the voting rights or with representation at the Board of the Company, and (iv) any party deemed as Related Party under the International Accounting Standards, including without limitation, Board members, Key Employees 13 and Relatives 14 . iv. In order to formalize the above referred delegations, to amend article 8.B. (“Nature and Competence”) of the Regulations of the Audit, Control and Related Party Transactions Committee including the necessary compe- tences to perform its duties, as follows: - Analise and, where appropriate, approve the (i) (a) intragroup transactions or (b) transactions per- formed between EDPR Group and EDP Group when their amount is below 10% of the total assets at the last annual balance sheet approved by the company, as long as they are in the ordinary manage- ment of the company and under market conditions; (ii) transactions executed under contracts with standardized terms that are wholesale applied to a high number of clients under prices or tariffs gen- erally established by the supplier of the goods or services, and which amount does not exceed the 0,5% of the net annual company turnover, and - Periodically inform the Board of Directors about the transactions approved by this Committee in the exercise of the above referred delegation, stating the fairness and transparency of such transactions, and as the case may be, the compliance with the applicable legal criteria. - Analise and inform about any modification of the Framework Agreement signed by EDP and EDP Ren- ováveis on 7 May 2008. 15 - Submit a report to the Board of Directors of the Company regarding the Related Party Transactions that shall be approved by the Board of Directors of EDPR SA or by its Shareholder’s Meeting in accord- ance with the law, and that shall include: (i) the information regarding the nature of the operation and the relation with the Related Party, (ii) the identity of the Related Party, the date and value or amount of the compensation of the transaction, and any other information necessary to appraise if the opera- tion is fair and reasonable for the company and for the shareholders that are not Related Parties. - Request EDP for access to the information needed to perform its duties. It should be also noted that in accordance with article 13.3 of the Regulations of the Audit, Control and Related Party Trans- actions Committee, the resolutions adopted by this committee are reported to the Board of Directors at the first Board meet- ing held following the meeting of the committee in which such proposals were discussed. That means that in case there are Related Party Transactions, they are reported to the Board of Directors at least every quarter (maximum period elapsed between Board of Directors Meeting in accordance with Article 22 of its Regulations). 90. Transactions subject to control during 2021 During 2021, EDPR has not signed any contracts with the members of its corporate bodies or with holders of qualifying holdings, excluding EDP, as mentioned below. The contracts signed between EDPR and its related parties have been analyzed by the Audit, Control and Related Party Transactions Committee according to its competences, as mentioned on the previous topic, and have been concluded ac- cording to the market conditions. The total amount of supplies and services in 2021 incurred with or charged by the EDP Group was EUR 39,068,467 corre- sponding to 11.64% of the total value of Supplies & Services for the year (EUR 335,673,949) 13 To this extent the following shall be considered as Key Employees: (i) the members of the Management Team of EDP Renováveis, S.A., (ii) the General Secretary of the Company, (iii) the Directors of Internal Audit, Compliance and Internal Control, Global Risk, Finance, ACT, Planning and Control, Investor Relations, Legal, IT, as well as (iv) any other that the Audit, Control, and Related Party Transactions Committee may designate. 14 To this extent the following shall be considered as Relatives: the spouse or assimilated partners of a Board Member and or/ of a Key Employee, the children of a Board Member and/or of a Key Employee, or of his/her spouse or assimilated partner, as well as the dependent individuals of the Board Member and/or Key Employee or of his/her spouses or assimilated partners. 15 This Framework Agreement was signed between EDP and EDPR in order to regulate the transactions closed between companies of EDP Group and EDPR Group, stating that in compliance with the transparency purposes for future investors, such shall continue to be developed in line with the market prices, in an arm’s length basis, and following certain predefined principles and rules (considering criteria as parties involved, scope and amount).

226 The most significant contracts in force during 2021 are the following: FRAMEWORK AGREEMENT The framework agreement was signed by EDP and EDPR on May 7 th 2008 and came into effect when the latter was admitted to trading. The purpose of the framework agreement is to set out the principles and rules governing the legal and business relations existing when it came into effect and those entered into subsequently. The framework agreement establishes that neither EDP nor the EDP Group companies other than EDPR and its subsidiaries can engage in activities in the field of renewable energies without the consent of EDPR. EDPR shall have worldwide exclu- sivity, with the exception of Brazil, where it shall engage its activities through a joint venture with EDP Energias do Brasil S.A., for the development, construction, operation, and maintenance of facilities or activities related to wind, solar, wave and/or tidal power, and other renewable energy generation technologies that may be developed in the future. Nonetheless, the agreement excludes technologies being developed in hydroelectric power, biomass, cogeneration, and waste in Portugal and Spain. It lays down the obligation to provide EDP with any information that it may request from EDPR to fulfil its legal obligations and prepare the EDP Group’s consolidated accounts. The framework agreement shall remain in effect for as long as EDP directly or indirectly owns more than 50% of the share capital of EDPR or appoints more than 50% of its Directors. MANAGEMENT SERVICES AGREEMENT On November 4 th , 2008 EDP and EDPR signed a Management Services Agreement that has been amended during the last years in accordance of the variations in the services rendered by EDP to the Company. Through this contract, EDP provides management services to EDPR, including matters related to the day-to- day running of the Company. As of 31 December 2021, under this agreement EDP renders management services corresponding to five (5) people from EDP which are part of EDPR’s Management: (i) two Executive Directors, who are also the CEO and CFO of EDPR, and (ii) three Non-Executive Directorss, for which EDPR pays EDP an amount defined both by the Appointments, Remuner- ations and Corporate Governance Committee and by the Audit, Control and Related Party Transactions Committee, and approved by the Board of Directors and the Shareholders Meeting. Under this contract, EDPR incurred an amount of EUR 831,450 for the management services rendered in 2021. FINANCE AGREEMENTS AND GUARANTEES The most significant finance agreements between EDP Group companies and EDPR Group companies were established under the above-described Framework Agreement and currently include the following: LOAN AGREEMENTS EDPR and EDPR Servicios Financieros SA (“EDPR SF” as the borrower) have loan agreements with EDP Finance BV and EDP Servicios Financieros España (“EDP SFE” as the lender), companies 100% owned by EDP Energias de Portugal S.A. Such loan agreements can be established both in EUR and USD, up to 10-year tenor and are remunerated at rates set at an arm’s length basis. As of December 31 st 2021, such loan agreements totalled USD 2,963,967,282.26 and EUR 444,587,000. CURRENT ACCOUNT AGREEMENT EDPR SF and EDP SFE signed an agreement through which EDP SFE manages EDPR SF’s cash accounts. The agreement also regulates the current account (cc) scheme on arm’s length basis. As of December 31 st 2021, there are two different current accounts with the following balance and counterparties: • in USD, for a total amount of USD 46,696,790.03 in favour of EDPR SF; • in EUR, for a total amount of 372,108,036.35 in favour of EDPR SF. The agreements in place are valid for one year as of date of signing and are automatically renewed for equal periods.

227 COUNTER-GUARANTEE AGREEMENT A counter-guarantee agreement was signed, under which EDP or EDP Energias de Portugal S.A., Sucursal en España (here- inafter guarantor or EDP Sucursal) undertakes on behalf of EDPR, EDP Renewables Europe SLU (hereinafter EDPR EU), and EDP Renewables North America LLC (hereinafter EDPR NA) to provide corporate guarantees or request the issue of any guarantees, on the terms and conditions requested by the subsidiaries, which have been approved on a case by case basis by the EDP’s Executive Board. EDPR will be jointly liable for compliance by EDPR EU and EDPR NA. The subsidiaries of EDPR undertake to indemnify the guarantor for any losses or liabilities resulting from the guarantees provided under the agreement and to pay a fee estab- lished in arm’s length basis. Nonetheless, certain guarantees issued prior to the date of approval of these agreements may have different conditions. As of December 31 st 2021, such counter-guarantee agreements totalled EUR 339,689,625.56 and USD 468,502,446. A counter-guarantee agreement was signed between EDPR Group and EDP España, under which, EDPR group can request the issue of any guarantee, on the terms and conditions requested by the subsidiaries of EDPR. EDPR group undertake to indemnify the guarantor for any losses or liabilities resulting from the guarantees provided under this agreement and to pay a fee established in arm’s length basis. As of December 31 st 2021, the amount of guarantees issued under this agreement totalled EUR 44,160,107.61. CROSS CURRENCY INTEREST RATE SWAPS Due to the net investments in North America, Canada, Brazil, United Kingdom, Poland, Romania and in Colombian compa- nies, EDPR’s accounts were exposed to the foreign exchange risk. With the purpose of hedging this foreign exchange risk, EDPR Group companies settled the following Cross Currency Interest Rate Swap (CIRS). As of December 31 st 2021 the total amount of CIRS by geography and currency are as following: • in USD/EUR, with EDP Energias de Portugal SA for a total amount of USD 1,778,815,770.00 • in CAD/EUR, with EDP Energias de Portugal SA for a total amount of CAD 139,148,472 • in BRL/EUR, with EDP Energias de Portugal SA for a total amount of BRL 122,500,000 • in GBP/EUR, with EDP Energias de Portugal SA for a total amount of GBP 41,064,430 • In RON/EUR, with EDP Energia de Portugal SA for a total amount of RON 160.000.000 • in PLN/EUR, with EDP Energias de Portugal SA for a total amount of PLN 1,078,489,477 • in COP/EUR with EDP Energias de Portugal SA for a total amount of COP 37,326,000,000 HEDGE AGREEMENTS – EXCHANGE RATE EDPR Group companies entered into several hedge agreements with EDP Energias de Portugal S.A., with the purpose of managing the transactional exposure related to the short term or transitory positions, in Colombian, Canada, Hungary, Ro- mania, Polish and United Kingdom subsidiaries, fixing the exchange rate for USD/EUR, EUR/PLN and GBP/EUR in accordance to the prices in the forward market in each contract date. As of December 31 st 2021, the total amount of Forwards and Non Delivery Forwards by geography and currency are as following: • Colombian operations, for USD/EUR, a total amount of EUR 276.733.634 (FWDs) and, for COP/EUR, a total amount of EUR 31.598.473 (NDFs); • Canada operations, for CAD/USD, a total amount of USD 257.796.000 (FWDs) and EUR/CAD, a total amount of EUR 3.436.741 (FWD) • Hungary operations, for HUF/EUR, a total amount of 15.263.303 (FWDs) and HUF/USD, a total amount of 19.313.279 (FWDs)

228 • Romania operations, for RON/EUR, a total amount of EUR 95.766.829 (FWD) • Polish operations, for EUR/PLN, a total amount of PLN 2,036,642,441(FWDs+NDFs) • United Kingdom operations, for GBP/EUR a total amount of EUR 58,630,094 (FWDs) HEDGE AGREEMENTS – COMMODITIES EDP and EDPR EU entered into hedge agreements for 2021 for a total volume of 3.024.278,52 MWh (sell position) and 703.702,00 MWh (buy position) at the forward market price at the time of execution related with the expected sales of energy in the Spanish market. CONSULTANCY SERVICE AGREEMENT On June 4 th 2008, EDP and EDPR signed a consultancy service agreement. Through this agreement, and upon request by EDPR, EDP (or through EDP Sucursal) shall provide consultancy services in the areas of legal services, internal control sys- tems, financial reporting, taxation, sustainability, regulation and competition, risk management, human resources, infor- mation technology, brand and communication, energy planning, accounting and consolidation, corporate marketing, and organizational development. The price of the agreement is calculated as the cost incurred by EDP plus a margin. For the first year, it was fixed at 8% based on an independent expert on the basis of market research. For 2021 the estimated cost of these services is EUR 8.675.902,44. This was the total cost of services provided for EDPR, EDPR EU, and EDPR NA. The duration of the agreement is one (1) year tacitly renewable for equal periods. RESEARCH AND DEVELOPMENT AGREEMENT On May 13 th , 2008, EDP Inovação S.A. (hereinafter EDP Inovação), an EDP Group Company, and EDPR signed an agreement regulating relations between the two companies regarding projects in the field of renewable energies (hereinafter the R&D Agreement). The object of the R&D Agreement is to prevent conflicts of interest and foster the exchange of knowledge between compa- nies and the establishment of legal and business relationships. The agreement forbids EDP Group companies other than EDP Inovação to undertake or invest in companies that undertake the renewable energy projects described in the agreement. The R&D Agreement establishes an exclusive right on the part of EDP Inovação to project and develop new renewable energy technologies that are already in the pilot or economic and/or commercial feasibility study phase, whenever EDPR exercises its option to undertake them. The fee corresponding to this agreement in 2021 is EUR 449.265. The agreement shall remain in effect for as long as EDP directly or indirectly maintains control of more than 50% of both companies or appoint the majority of the members of the Board and Executive Committee of the parties to the agreement. MANAGEMENT SUPPORT SERVICES AGREEMENT BETWEEN EDP RENOVÁVEIS PORTUGAL S.A., AND EDP GLOBAL SO- LUTIONS - GESTÃO INTEGRADA DE SERVIÇOS S.A . On January 1 st , 2003, EDPR – Promoção e Operação S.A., and EDP Global Solutions - Gestão Integrada De Serviços S.A. (hereinafter EDP Global Solutions), an EDP Group Company, signed a management support service agreement. The object of the agreement is the provision to EDPR – Promoção e Operação S.A. by EDP Global Solutions of services in the areas of procurement, economic and financial management, fleet management, property management and maintenance, insurance, occupational health and safety, and human resource management and training. The remuneration accrued by EDP Global Solutions by EDPR Promoção e Operação S.A. and its subsidiaries for the services provided in 2021 totaled EUR 2,044,820. The initial duration of the agreement was five (5) years from date of signing on January 1 st 2008, and tacitly renewable for equal periods of one (1) year. Either party may renounce the contract with one (1) year’s notice.

229 INFORMATION TECHONOLOGY MANAGEMENT SERVICES AGREEMENT BETWEEN EDP RENOVÁVEIS S.A. AND EDP EN- ERGIAS DE PORTUGAL S.A. There exists an IT management services agreement effective since January 1 st , 2020, which supersedes the existing IT man- agement services agreement from that date. The object of the agreement is to provide to EDPR the information technology services described on the contract and its attachments by EDP. The amount incurred for the services provided in 2021 totaled EUR 7,319,963. The initial duration of the agreement is one (1) year from date of signing and it is tacitly renewed for a new period of one (1) year. Either party may renounce the contract with one (1) month notice. CONSULTANCY AGREEMENT BETWEEN EDP RENOVÁVEIS BRASIL S.A., AND EDP ENERGIAS DO BRASIL S.A. The object of the agreement is to provide to EDP Renováveis Brasil S.A. (hereinafter EDPR Brasil) the consultancy services described on the contract and its attachments by EDP – Energias do Brasil S.A. (hereinafter EDP Brasil). Through this agreement, and upon request by EDPR Brasil, EDP Brasil shall provide consultancy services in the areas of legal services, internal control systems, financial reporting, taxation, sustainability, regulation and competition, risk management, human resources, information technology, brand and communication, energy planning, accounting and consolidation, cor- porate marketing, and organizational development. The amount incurred by EDP Brasil for the services provided in 2021 totalled BRL 269,575. The initial duration of the agreement is one (1) year from the date of signing and it is tacitly renewed for a new period of one (1) year. 91. description of the procedures applicable to the supervisory body for the assessment of the business deals. The most significant contracts signed between EDPR and its Qualified Shareholders are analyzed by the Audit, Control and Related- Party Transactions Committee according to its competences, as mentioned on topic 89 of the Chapter 5 of this Annual Report. II. Data on business deals 92. Details of the place where the financial statements including information on business dealings with related parties are available, in accordance with IAS 24, or alternatively a copy of said data. The information on business dealings with related parties is available on Note 39 of the Financial Statements.

230 PART II – Corporate Governance Assess- ment I. Details of the Corporate Governance code implemented Following the protocol signed between the CMVM and the Portuguese Institute of Corporate Governance (IPCG) on October 13 th , 2017, the CMVM revoked its Corporate Governance Code (2013), which was replaced by a single applicable code, the new Corporate Governance Code of the IPCG, which entered into force on January 1 st , 2018, and that was reviewed in 2020. For the purposes of the proper preparation of corporate governance reports for the year beginning in 2021, and to be reported in 2022, they should continue to be prepared in accordance with the structure of contents referred the annex to CMVM Regulation No. 4/2013 available at the CMVM website ( www.cmvm.pt). The report template is divided into two parts: • Part I - mandatory information on shareholder structure, organisation and governance of the company. This information shall be referred within points 1 to 92 of this Corporate Governance Report in accordance with the structure included in that Annex. • Part II - Corporate governance assessment: should include a declaration in which they must: (i) identify the ap- plicable code, (ii) state whether or not they adhere to each of the recommendations of this code and, (iii) with respect to recommendations that do not follow, explain reasonably why. The agreement between CMVM and IPCG on the new Corporate Governance Code may be found on the Protocol signed on October 13 th , 2017, which is available at the website of CMVM (http://www.cmvm.pt/). Likewise, the reviewed version Cor- porate Governance Code of the IPCG is published on the website of IPCG and of the Monitoring Committees (https://cam.cgov.pt/) II. Analysis of Compliance with the Corporate Governance code implemented The following table shows the recommendations set forth in the Corporate Governance Code of the IPCG and indicates EDPR’s compliance with it and the place in this report in which they are described in more detail. Also in order to comply with the best Corporate Governance recommendations, and according to the results of the reflection made by the Appointments and Remunerations Committee, the governance model that was adopted has been ensuring an effective performance and articulation of EDPR Governing Bodies and proved to be adequate to the Company’s governance structure without any constraints to the performance of its checks and balances system adopted to justify the changes made in the governance practices of EDPR. The explanation of the Corporate Governance Code of the IPCG recommendations that EDPR does not adopt or that the Company deems not applicable, reasoning and other relevant comments as well as reference to the part of the report where the description may be found, are in the table below. In this context, EDPR states that it has adopted the Corporate Governance recommendations on the governance of listed companies provided in the Corporate Governance Code of the IPCG, with the exceptions indicated in the following table.

231 CORPORATE GOVERNANCE RECOMMENDATIONS - STATEMENT OF COMPLIANCE CHAPTER I - GENERAL PROVISIONS 1.1. COMPANY’S RELATIONSHIP WITH INVESTORS AND DISCLOSURE I.1.1 The Company should establish mechanisms to ensure the timely disclosure of information to its governing bodies, share- holders, investors and other stakeholders, financial ana- lysts, and to the markets in general. ADOPTED Section B - II, a) Topic 15 (Page 173); Section C) -III, Topic 55 (Pages 210-212) Section C-IV, Topic 56; and Section C-V, 59 – 65 (Pages 214 - 216) 1.2. DIVERSITY IN THE COMPOSITION AND FUNCTIONING OF THE COMPANY’S GOVERNING BODIES I.2.1 Companies should establish standards and requirements regarding the profile of new members of their governing bodies, which are suitable ac- cording to the roles to be car- ried out. Besides individual at- tributes (such as competence, independence, integrity, availa- bility, and experience), these profiles should take into con- sideration general diversity re- quirements, with particular at- tention to gender diversity, which may contribute to a bet- ter performance of the govern- ing body and to the balance of its composition. ADOPTED Section B-II, a) Topics 16 and 17 (Pages 174 - 176) I.2.2 The company’s managing and supervisory boards, as well as their committees, should have internal regulations — namely regulating the performance of their duties, their Chairman- ship, periodicity of meetings, their functioning and the duties of their members —, disclosed in full on the company’s web- site. Minutes of the meetings of each of these bodies should be drawn out. ADOPTED Section B-II, a) Topic 15 (Page 173 and 174);

232 I.2.3 The composition and the num- ber of annual meetings of the managing and supervisory bodies, as well as of their com- mittees, should be disclosed on the company’s website ADOPTED Section B-II, a) Topic 15 (Page 173 and 174); Section C-V, Topics 59 – 65 (Page 216) I.2.4 A policy for the communication of irregularities (whistleblow- ing) should be adopted that guarantees the suitable means of communication and treat- ment of those irregularities, with the safeguarding of the confidentiality of the infor- mation transmitted and the identity of its provider, when- ever such confidentiality is re- quested. ADOPTED Section C-II, Topic 49 (Pages 196 and 197) 1.3. RELATIONSHIPS BETWEEN THE COMPANY BODIES I.3.1 The bylaws, or other equivalent means adopted by the com- pany, should establish mecha- nisms that, within the limits of applicable laws, permanently ensure the members of the managing and supervisory boards are provided with ac- cess to all the information and company’s collaborators, in or- der to appraise the perfor- mance, current situation and perspectives for further devel- opments of the company, namely including minutes, doc- uments supporting decisions that have been taken, calls for meetings, and the archive of the meetings of the managing board, without impairing the access to any other documents or people that may be re- quested for information. ADOPTED Section B-II, a) Topic 15 (Page 173) I.3.2 Each of the company’s boards and committees should ensure the timely and suitable flow of information, especially regard- ing the respective calls for meetings and minutes, neces- sary for the exercise of the competences, determined by law and the bylaws, of each of the remaining boards and com- mittees. ADOPTED Section B-II, a) Topic 15 (Page 173); Section B-II, c) Topic 29 (Pages 184, 185 and 188)

233 1.4 CONFLICTS OF INTEREST I.4.1 The members of the managing and supervisory boards and the internal committees are bounded, by internal regulation or equivalent, to inform the re- spective board or committee whenever there are facts that may constitute or give rise to a conflict between their interests and the company’s interest. ADOPTED Section B-II, a) Topic 18 (Page 177) I.4.2 Procedures should be adopted to guarantee that the member in conflict does not interfere in the decision- making process, without prejudice to the duty to provide information and other clarifications that the board, the committee or their respective members may request. ADOPTED Section B-II, a) Topic 18 (Page 177) 1.5. RELATED PARTY TRANSACTIONS I.5.1 The managing body should dis- close in the corporate govern- ance report or by other means publicly available the internal procedure for verifying transac- tions with related parties. ADOPTED Section E-I, Topic 89 (Pages 224 and 225) I.5.2 The managing body should re- port to the supervisory body the results of the internal procedure for verifying transactions with related parties, including the transactions under analysis, at least every six months. NOT APPLICABLE This procedure is now regulated by law (art 249ºA, nº1 of the Código dos Valores Mobiliarios) and therefore the rec- ommendation has been surpassed by the Portuguese Law in force. Should be noted that applicable law to EDPR to this ex- tent is the Spanish Law. The procedure implemented by EDPR for the approval of Related Party Transactions is described in topic 89 of this Chapter 5 of the Annual Re- port Section E-I, Topic 89 (Pages 224 and 225)

234 CHAPTER II – SHAREHOLDERS AND GENERAL MEETINGS II.1 The company should not set an excessively high number of shares to confer voting rights, and it should make its choice clear in the corporate govern- ance report every time its choice entails a diversion from the general rule: that each share has a corresponding vote. ADOPTED As per the split of multiple-recommendations, should be clarified that the part of this recommendation correspond- ing to II.1.(2) shall be considered as not applicable as each EDPR share corresponds to one vote Section B-I, b) Topics 12 and 13 (Page 171) II.2 The company should not adopt mechanisms that make deci- sion making by its shareholders (resolutions) more difficult, spe- cifically, by setting a quorum higher than that established by law. ADOPTED Please note EDPR’s personal law is the Spanish one, and as such, the majorities and quorums applicable for the Shareholders’ Meeting resolutions are not the ones set under Portuguese Law, but those established under the Spanish one, with which is completely aligned. Section B-I, b) Topic 14 (Page 172) II.3. The company should imple- ment adequate means for the remote participation by share- holders in the general meeting, which should be proportionate to its size. NOT ADOPTED EDPR has deeply analysed the needs and priorities of its shareholders worldwide, and therefore, since 2009, it is provided the possibility of fulfilling all the requirements necessary to validly exercise their right to vote by dis- tance means (registry of intention to attend, submission of the certificate of titularity of shares, granting of represen- tation proxies, and properly voting). The efficiency and in- terest of our shareholders in these initiatives has been clearly proved, as nearly almost all of the participation is exercised by these means. In the same way, EDPR has also reviewed the track rec- ord of participation in the Shareholders’ Meeting the day of its celebration (when generally all the votes are submit- ted beforehand by distance voting), the shareholding structure of the Company (under which a 78% is qualified shareholding (EDP Energías de Portugal S.A with a 75% and Blackrock with a 3%) and therefore the free float is only of 22%), and its shareholders’ profiles; concluding that the implementation of a streaming system to digitally participate will imply a material cost where the demon- strated preferences of almost all EDPR shareholders is to submit their votes by distance means. Notwithstanding the foregoing, EDPR has deeply ana- lysed the market trends during this year, and also with the aim of improving the compliance commitment with Corpo- rate Governance recommendations, has been considering the possibility of providing this option to its shareholders. Considering that under Spanish law it is required to spe- cifically regulate under the Company’s bylaws the option of celebrating telematic Shareholders’ Meetings, as a first step, EDPR will propose the corresponding bylaws amendment proposal to the General Shareholders’ meet- ing to be held in 2022, so that EDPR would be able to of- fer this option in the next meetings to be held thereinafter Section B-I, b) Topic 13 (Page 172) II.4. The company should also im- plement adequate means for the exercise of remote voting, including by correspondence and electronic means. ADOPTED Section B-I, b) Topic 13 (Page 172)

235 II.5. The bylaws, which specify the limitation of the number of votes that can be held or exer- cised by a sole shareholder, in- dividually or in coordination with other shareholders, should equally provide that, at least every 5 years, the amendment or maintenance of this rule will be subject to a shareholder res- olution — without increased quorum in comparison to the legally established — and in that resolution, all votes cast will be counted without obser- vation of the imposed limits. NOT APPLICABLE Section A-I, Topic 5 (Page 166); Section B-I, b) Topic 12 (Page 171) II.6. The company should not adopt mechanisms that imply pay- ments or assumption of fees in the case of the transfer of con- trol or the change in the com- position of the managing body, and which are likely to harm the free transferability of shares and a shareholder as- sessment of the performance of the members of the managing body. ADOPTED Section A-I, Topic 4 (Pages 165 and 166); Section D - IV, Topic 80 (Page 222); and Section D - V, Topics 83- 84 (Page 223) CHAPTER III – NON-EXECUTIVE MANAGEMENT, MONITORING AND SUPERVISION III.I Without prejudice to the legal powers of the chair of the man- aging body, if he or she is not independent, the independent directors should appoint a coor- dinator from amongst them, namely, to: (i) act, when neces- sary, as an interlocutor near the chair of the board of directors and other directors, (ii) make sure there are the necessary conditions and means to carry out their functions; and (iii) coor- dinate the independent directors in the assessment of the perfor- mance of the managing body, as established in recommenda- tion V.1.1. NOT APPLICABLE On April 12 th , 2021 EDPR appointed an independent Chairperson, António Gomes Mota. Should be noted that during the period of 2021 elapsed until this appointment, EDPR had an interdependent coor- dinator (António Nogueira Leite, who was appointed for this position on February 2019) Section B-II, a) Topic 18 (Page 178).

236 III.2 The number of non- executive members in the managing body, as well as the number of members of the supervisory body and the number of the members of the committee for financial matters should be suitable for the size of the com- pany and the complexity of the risks intrinsic to its activity, but sufficient to ensure, with effi- ciency, the duties which they have been attributed. The for- mation of such suitability judg- ment should be included in the corporate governance report. ADOPTED As per the split of multiple-recommendations, should be clarified that the part of this recommendation correspond- ing to III.2.(3) is not applicable, as EDPR does not have a German Governance Model. Section B-II, a) Topic 18 (Pages 177 and 178) III.3 In any case, the number of non- executive directors should be higher than the number of ex- ecutive directors. ADOPTED Section B-II, a) Topic 18 (Pages 177 and 178) III.4 Each company should include a number of non- executive di- rectors that corresponds to no less than one third, but always plural, who satisfy the legal re- quirements of independence. For the purposes of this recom- mendation, an independent person is one who is not asso- ciated with any specific group of interest of the company, nor under any circumstance likely to affect his/her impartiality of analysis or decision, namely due to: i. having carried out functions in any of the company’s bodies for more than twelve years, either on a consecutive or non- consecutive basis; ii. having been a prior staff member of the company or of a com- pany which is consid- ered to be in a con- trolling or group rela- tionship with the company in the last three years; iii. having, in the last three years, provided services or estab- lished a significant business relationship with the company or a company which is considered to be in a controlling or group relationship, either di- rectly NOT APPLICABLE The independence criteria applicable to EDPR are those stablished under its personal law (Spanish law). Section B-II, a) Topic 18 (Pages 177 and 178)

237 or as a shareholder, director, manager or officer of the legal person; iv. having been a benefi- ciary of remuneration paid by the company or by a company which is considered to be in a controlling or group relationship other than the remu- neration resulting from the exercise of a director’s duties; v. having lived in a non- marital partnership or having been the spouse, relative or any first degree next of kin up to and in- cluding the third de- gree of collateral af- finity of company di- rectors or of natural persons who are di- rect or indirect hold- ers of qualifying hold- ings, or vi. having been a qualified holder or representa- tive of a shareholder of qualifying holding. III.5 The provisions of paragraph (i) of recommendation III.4 does not inhibit the qualification of a new director as independent if, between the termination of his/her functions in any of the company’s bodies and the new appointment, a period of 3 years has elapsed (cooling-off period). NOT APPLICABLE The independence criteria applicable to EDPR are those stablished under its personal law (Spanish law). Section B-II, a) Topic 18 (Pages 177 and 178) III.6 The supervisory body, in ob- servance of the powers con- ferred to it by law, should as- sess and give its opinion on the strategic lines and the risk pol- icy prior to its final approval by the management body. NOT APPLICABLE As per the governance model of EDPR, its supervisory body is the Audit, Control and Related Party Transactions Committee – a Delegated Committee of the Board of Di- rectors. Considering that under the personal law of EDPR (this is the Spanish one): i) the Delegated Committees shall be entirely composed by members of the Board of Directors, and ii) the approval of the strategic lines and policies of the Company is a reserved matter of the Board of Direc- tors; implementing this prior analysis at the Audit, Control and Related Party Transactions Committee level (com- posed by Directors that will vote the related resolution at Board of Directors level) will not add material value to the process. Section A -II, Topic 9 (Page 169)

238 III.7 Companies should have spe- cialised committees, separately or cumulatively, on matters re- lated to corporate governance, appointments, and perfor- mance assessment. In the event that the remuneration committee provided for in arti- cle 399 of the Commercial Companies Code has been cre- ated and should this not be prohibited by law, this recom- mendation may be fulfilled by conferring competence on such committee in the aforemen- tioned matters. ADOPTED Section B - II, a) Topic 15 (Pages 173 and 174) Section B-II, c), Top- ics 27 (Page 182) and 29 (Pages 182 - 190) CHAPTER IV – EXECUTIVE MANAGEMENT IV.I The managing body should ap- prove, by internal regulation or equivalent, the rules regarding the action of the executive di- rectors applicable to their per- formance of executive func- tions in entities outside of the group. ADOPTED Section B-II, b) Topic 26 (Page 182) IV.2 The managing body should en- sure that the company acts consistently with its objects and does not delegate powers, namely, in what regards the definition of the strategy and main policies of the company; the organization and coordina- tion of the business structure; matters that should be consid- ered strategic in virtue of the amounts involved, the risk, or special characteristics. ADOPTED Section A -II, Topic 9 (Pages 168 and 169) IV.3 In the annual report, the man- aging body explains in what terms the strategy and the main policies defined seek to ensure the long-term success of the company and which are the main contributions resulting therein for the community at large. ADOPTED Chapter 2.2. of the Management Report (Pages 47 and 42)

239 CHAPTER V – EVALUATION OF PERFORMANCE, REMUNERATION AND APPOINTMENT V.1 EVALUATION OF PERFORMANCE V.I.I The managing body should an- nually evaluate its performance as well as the performance of its committees and executive directors, taking into account the accomplishment of the company’s strategic plans and budget plans, the risk manage- ment, the internal functioning and the contribution of each member of the body to these objectives, as well as the rela- tionship with the company’s other bodies and committees. ADOPTED Section A -II, Topic 9 (Page 168); Section B-II b), Topic 24 (Page 181); Section D – I Topic 66 (Page 217); Section D – III, Topic 71 (Page 219 - 220) V.2 Remuneration V.2.I The company should create a remuneration committee, the composition of which should ensure its independence from the management, which may be the remuneration committee appointed under the terms of article 399 of the Commercial Companies Code. ADOPTED Section B - II, c) Topic 27 (Page 182); Section B- II, c) Topic 29 (Page 186); Section D - I, Topic 66 (Page 216) V.2.2 The remuneration should be set by the remuneration committee or the general meeting, on a proposal from that committee. ADOPTED Section D – I, Topic 66 (Page 217); Section D – III, Topic 69 (Page 218) V.2.3 For each term of office, the re- muneration committee or the general meeting, on a proposal from that committee, should also approve the maximum amount of all compensations payable to any member of a board or committee of the com- pany due to the respective ter- mination of office. The said sit- uation as well as the amounts should be disclosed in the cor- porate governance report or in the remuneration report. ADOPTED Section D – IV, Topic 80 (Page 222)

240 V.2.4 In order to provide information or clarifications to sharehold- ers, the chair or, in case of his/her impediment, another member of the remuneration committee should be present at the annual general meeting, as well as at any other, whenever the respective agenda includes a matter linked with the remu- neration of the members of the company’s boards and commit- tees or, if such presence has been requested by the share- holders. ADOPTED Section B-I, a) Topic 11 (Page 170); Section B-II, a) Topic 29 (Page 187) V.2.5 Within the company’s budget- ary limitations, the remunera- tion committee should be able to decide, freely, on the hiring, by the company, of necessary or convenient consulting ser- vices to carry out the commit- tee’s duties. ADOPTED Section D – II Topic 67 (Page 217) V.2.6 The remuneration committee should ensure that those ser- vices are provided inde- pendently and that the respec- tive providers do not provide other services to the company, or to others in controlling or group relationship, without the express authorization of the committee. ADOPTED Section D – II Topic 67 (Page 217) V.2.7 Taking into account the align- ment of interests between the company and the executive di- rectors, a part of their remuner- ation should be of a variable nature, reflecting the sustained performance of the company, and not stimulating the as- sumption of excessive risks. ADOPTED Section D – III, Topics 70 -72 (Pages 219 - 220)

241 V.2.8 A significant part of the varia- ble component should be par- tially deferred in time, for a pe- riod of no less than three years, being necessarily connected to the confirmation of the sustain- ability of the performance, in the terms defined by a com- pany’s internal regulation. ADOPTED Section D – III, Topic 72 (Page 220) V.2.9 When variable remuneration includes the allocation of op- tions or other instruments di- rectly or indirectly dependent on the value of shares, the start of the exercise period should be deferred in time for a period of no less than three years. NOT APPLICABLE Section D – III, Topics 73 and 74 (Page 220) V.2.10 The remuneration of non- ex- ecutive directors should not in- clude components dependent on the performance of the com- pany or on its value. ADOPTED Section D – III, Topic 69 (Page 218); Section D – IV, Topic 77 (Page 221) V.3 Appointments V.3.I The company should, in terms that it considers suitable, but in a demonstrable form, promote that proposals for the appoint- ment of the members of the company’s governing bodies are accompanied by a justifica- tion in regard to the suitability of the profile, the skills and the curriculum vitae to the duties to be carried out. ADOPTED Section B-II, a) To- pics 16, 17 (Pages 174 - 176) V.3.2 The overview and support to the appointment of members of senior management should be attributed to a nomination committee unless this is not justified by the company’s size. ADOPTED Section B- II, c) Topic 29 (Page 187) V.3.3 This nomination committee in- cludes a majority of non- exec- utive, independent members. ADOPTED Section B- II, c) Topic 29 (Page 186)

242 V.3.4 The nomination committee should make its terms of refer- ence available, and should fos- ter, to the extent of its powers, transparent selection processes that include effective mecha- nisms of identification of poten- tial candidates, and that those chosen for proposal are those who present a higher degree of merit, who are best suited to the demands of the functions to be carried out, and who will best promote, within the or- ganisation, a suitable diversity, including gender diversity. ADOPTED Section B-II, a) To- pics 16, 17 (Pages 174 -176); CHAPTER VI – INTERNAL CONTROL VI.I The managing body should de- bate and approve the Com- pany’s strategic plan and risk policy, which should include the establishment of limits on risk- taking. ADOPTED . Section A -II, Topic 9 (Pages 168 and 169); Section C) - III, Topic 52 (Page 200) VI.2 The supervisory board should be internally organised, imple- menting mechanisms and pro- cedures of periodic control that seek to guarantee that risks which are effectively incurred by the company are consistent with the company’s objectives, as set by the managing body. ADOPTED Section B -III,b), To- pic 35 (Page 191); Section C– II, Topic 52 (Page 200) VI.3 The internal control systems, comprising the functions of risk management, compliance, and internal audit should be struc- tured in terms adequate to the size of the company and the complexity of the inherent risks of the company’s activity. The supervisory body should evalu- ate them and, within its com- petence to supervise the effec- tiveness of this system, pro- pose adjustments where they are deemed to be necessary. ADOPTED Section B- II, c) Topic 29 (Pages 183-186); Section B- III, Topic 30 (Page 191); Section B -III, b), To- pic 35 (Page 192); Section C– III, Topics 50-55 (Pages 199 - 214)

243 VI.4 The supervisory body should provide its view on the work plans and resources allocated to the services of the internal control system, including the risk management, compliance and internal audit functions, and may propose the adjust- ments deemed to be necessary. ADOPTED Section B- II, c) Topic 29 (Pages 183-186); Section B – III, b) To- pic 35 (Page 192) VI.5 The supervisory body should be the recipient of the reports pre- pared by the internal control services, including the risk management functions, compli- ance and internal audit, at least regarding matters related to the approval of accounts, the identification and resolution of conflicts of interest, and the de- tection of potential irregulari- ties. ADOPTED Section B- II, c) Topic 29 (Pages 183 – 186); Section B – III, b) To- pic 35 (Page 192) VI.6 Based on its risk policy, the company should establish a risk management function, identifying (i) the main risks it is subject to in carrying out its ac- tivity; (ii) the probability of oc- currence of those risks and their respective impact; (iii) the devices and measures to adopt towards their mitigation; and (iv) the monitoring procedures, aiming at their accompaniment. ADOPTED Section C) – III, To- pics 52 – 55 (Pages 200 - 214); Chapter 2 of this An- nual Report (Pages 36-56) VI.7 The company should establish procedures for the supervision, periodic evaluation, and adjust- ment of the internal control system, including an annual evaluation of the level of inter- nal compliance and the perfor- mance of that system, as well as the perspectives for amend- ments of the risk structure pre- viously defined. ADOPTED Section C) -III, Topics 52, 54, 55 (Pages 200, 209 -214)

244 CHAPTER VII – FINANCIAL INFORMATION VII.1 Finantial information VII.1.1 The supervisory body’s internal regulation should impose the obligation to supervise the suit- ability of the preparation pro- cess and the disclosure of fi- nancial information by the managing body, including suit- able accounting policies, esti- mates, judgments, relevant dis- closure and its consistent appli- cation between financial years, in a duly documented and com- municated form. ADOPTED Section B- II, Topic 29 (Page 184 -foot- note); Section B – III, b) Topic 35 (Page 192); VII.2 Statutory Auditor, Accounts and Supervision VII.2.1 By internal regulations, the su- pervisory body should define, according to the applicable le- gal regime, the monitoring pro- cedures aimed at ensuring the independence of the statutory audit. ADOPTED Section B- II, c) Topic 29 (Pages 182 and 183), Section B – III, c) Top- ics 37 and 38 (Page 192); Section B – IV-V, Topics 45, 46 and 47 (Pages 194 and 195) VII.2.2 The supervisory body should be the main interlocutor of the statutory auditor in the com- pany and the first recipient of the respective reports, having the powers, namely, to propose the respective remuneration and to ensure that adequate conditions for the provision of services are ensured within the company. ADOPTED Sections B – II, c) To- pic 29 (Pages 183 - 184); Section B – V, Topics 45, 46 (Pages 194 and 195) VII.2.3 The supervisory body should annually assess the services provided by the statutory audi- tor, their independence and their suitability in carrying out their functions, and propose their dismissal or the termina- tion of their service contract by the competent body when this is justified for due cause. ADOPTED Section B – II, c) To- pic 29 (Pages 185 - 186); Section B – III a), To- pic 30 (Page 191), Section B – III, c) To- pics 37 and 38 (Page 193); Section B- IV- V, To- pic 45 (Page 194)

246 António Mota CURRENT POSITION Chairman of the Board of Directors - EDP Renováveis, S.A. Chairman of the Appointments, Remu- nerations and Corporate Governance Committee - EDP Renováveis, S.A. PREVIOUS POSITIONS AND EXPERIENCE • Non-executive director and Chair of Nominations and Remuneration Committee - CIMPOR • Non-executive director as member of the Supervisory Board and Chair of the Audit Committee - EDP • Non-executive director as Chair of the Audit Committee and then as Chairman of the Board – CTT • Dean - ISCTE Business School • He has been a consultant for large corporations in the areas of corporate re- structuring and valuation, regulation, corporate governance and remuneration policies • He is the author of several books in the areas of corporate finance, investments and risk management and a regular invited speaker at professional and industry conferences ________________________________________________________________________ • PhD in management – ISCTE, University Institute of Lisbon • MBA - Nova School of Business and Economics • Bachelor’s degree in management – ISCTE, University Institute of Lisbon CURRENT MAIN EXTERNAL APPOINTMENTS • Full Professor of finance - ISCTE Business School • President - Portuguese Institute of Corporate Governance • Chair of the Audit Committee - MYSTICINVEST HOLDING • Chair of the Remuneration Committee - PHAROL, SGPS

249 Vera Pinto CURRENT POSITION Member of the Executive Board of Direc- tors – EDP - Energias de Portugal, S.A. Member of the Board of Directors – EDP Renováveis, S.A. CEO – EDP Comercial, S.A. Chairman of the Board of Directors – EDP Foundation Member of the Executive Board of Direc- tors – EDP España, S.L.U. Member of the Executive Board of Direc- tors – EDP - Energias do Brasil, S.A. PREVIOUS POSITIONS AND EXPERIENCE • Executive Vice-President and General Manager (Portugal and Spain) – Fox Net- works Group • Member of the Board – Pulsa Media • Television Business Director – MEO • Television Business Director – TV Cabo - PT Multimedia • Founder – Innovagency Consulting • Associate – Mercer ________________________________________________________________________ • Executive Education program – Harvard Business School • MBA – INSEAD • Degree in Economics – NOVA University of Lisbon CURRENT MAIN EXTERNAL APPOINTMENTS • Member of the Board – Portuguese Institute of Corporate Governance • Member of the Board – Fundação Alfredo de Sousa • Member of the Board – Charge up Europe • President – Portuguese-Chinese Chamber of Commerce and Industry

250 Ana Paula Marques CURRENT POSITION Member of the Executive Board of Directors – EDP - Energias de Portugal, S.A. Member of the Board of Directors – EDP Renováveis, S.A. CEO – EDP Gestão de Produção de Energia, S.A. CEO – Labelec - Estudos, Desen- volvimentos e Actividades Labo- ratoriais, S.A Member of the Executive Board of Directors – EDP - Energias do Brasil, S.A. Member of the Executive Board of Directors – EDP España, S.L.U. PREVIOUS POSITIONS AND EXPERIENCE • Executive Vice-President – NOS, SGPS, S.A. • Executive Board Member – NOS, SGPS, S.A. • Non-Executive Board Member – SportTV • President – APRITEL (Portuguese Association of Telecom Operators) • Executive Board Member – Optimus • Marketing and Sales Director (Mobile Residential Business Unit) and Brand Director – Optimus • SMEs Business Unit Director – Optimus • Marketing – Procter & Gamble ________________________________________________________________________ • Executive Education Programs – Harvard Business School, IMD, LBS • MBA – INSEAD • Degree in Economics – Faculdade de Economia do Porto CURRENT MAIN EXTERNAL APPOINTMENTS • Member of the Board – Eurelectric • President of the Board – Elecpor • Guest Professor – Porto Business School and Faculdade de Economia do Porto

251 Miguel Setas CURRENT POSITION Member of the Executive Board of Directors – EDP - Energias de Portugal, S.A. Member of the Board of Direc- tors – EDP Renováveis, S.A. Risk and Sustainability Officer - EDP – Energias de Portugal, SA Chairman of the Board of Di- rectors - EDP – Energias do Brasil, S.A. Chairman of the Board of Di- rectors – E-Redes España PREVIOUS POSITIONS AND EXPERIENCE • CEO – EDP - Energias do Brasil, S.A. • Chairman of the Board of Directors – EDP - Gestão da Produção de Energia, S.A. • Board Member – EDP Inovação, Portgás and Fundação EDP • Board Member – EDP Comercial • Chief of Staff for the CEO – EDP - Energias de Portugal, S.A. • Executive Board Member – CP - Comboios de Portugal • Strategic Marketing Director – Galp Energia • Executive Board Member – Lisboagás • Corporate Director - GDP – Gás de Portugal • Consultant – McKinsey & Company ________________________________________________________________________ • Executive Education – Harvard, Wharton, IESE (Barcelona) and CEIBS (Shanghai) • MBA – Nova University of Lisbon • Masters in Electrical and Computing Engineering – Instituto Superior Técnico • Degree in Physics Engineering – Instituto Superior Técnico

253 Acácio Piloto CURRENTPOSITION Member of the Board of Directors - EDP Renováveis, S.A. Chairman of the Audit, Control and Re- lated-Party Transactions Committee - EDP Renováveis, S.A. PREVIOUS POSITIONS AND EXPERIENCE • International Division - Banco Pinto e Sotto Mayor • International and Treasury Division - Banco Comercial Português • Head - BCP International Corporate Banking • Member of the Executive Committee - AF Investimentos SGPS • Chairman - AF Investimentos SGPS group companies: AF Investimentos, Fundos Mobiliários; AF Investimentos, Fundos Imobiliários; BPA Gestão de Patrimónios; BCP Investimentos International; AF Investimentos International and Prime Inter- national • Member - BCP Investment Committee • Executive Board Member - BCP – Banco de Investimento, in charge of Investment Banking • Treasurer and Head of Capital Markets - Millennium BCP Group • Millennium BCP Chair - Group ALCO • CEO - Millennium Gestão de Ativos SGFIM • Chairman - Millennium SICAV • Chairman - BII International • Member of the Board of Directors and Member of the Audit Committee - INAPA IPG, S.A. • Member of the Supervisory Board and Chairman of the Risk Committee - Caixa Económica Montepio Geral. • Member of the Nominations and Remunerations Committee - EDP Renováveis, S.A. • Member of the Related-Party Transactions Committee - EDP Renováveis, S.A. ________________________________________________________________________ • Trainee - International Division of Bayerische Hypoteken und Wechsel Bank • Professional education courses mostly in banking, financial and asset manage- ment - International Banking School, the Asset and Liability Management Semi- nar (Merrill Lynch International) and the INSEAD Executive Program (Fon- tainebleau) • Executive Program on Corporate Governance and Leadership of Boards - Nova SBE • Post- Graduate degree in European Community Competition Law - Max Planck Institut • Post-Graduation in Economic Law - Ludwig Maximilian University (Scholar Hanns Seidel Foundation, Munich) • Degree in law - Lisbon University CURRENT MAIN EXTERNAL APPOINTMENTS • Member of the General Board - Instituto Português de Corporate Governance (representing EDP Renováveis, S.A.)

254 Allan Katz CURRENT POSITION Member of the Board of Directors - EDP Renováveis, S.A. PREVIOUS POSITIONS AND EXPERIENCE • National Director of the Public Policy practice group -firm of Akerman Senterfitt • Assistant Insurance Commissioner and Assistant State Treasurer - State of Flor- ida • Legislative Counsel - Congressman Bill Gunter and David Obey • General Counsel - Commission on Administrative Review of the US House of Representatives • Member of the Board - Florida Municipal Energy Association • President - Brogan Museum of Art & Science in Tallahassee, Florida • Board member - Junior Museum of Natural History in Tallahassee, Florida City of Tallahassee Commissioner • First Chair - State Neurological Injury Compensation Association • Member - State Taxation and Budget Commission • City of Tallahassee Commissioner • Ambassador of the United States of America to the Republic of Portugal • Distinguished Professor - University of Missouri Kansas City • Board Member - International Relation Council of Kansas City ________________________________________________________________________ • JD - Washington College of Law at American University in Washington DC (1974) • Degree - UMKC (1969) CURRENT MAIN EXTERNAL APPOINTMENTS • Founder - the American Public Square • Executive Committee Chair of the Academic and Corporate Board - ISCTE Busi- ness School in Lisbon Portugal • Board Member - WW1 Commission Diplomatic Advisory Board • Creator - Katz, Jacobs and Associates LLC (KJA) • Frequent speaker and moderator on developments in Europe and on American Politics

255 Joan Avalyn Dempsey CURRENT POSITION Member of the Board of Directors - EDP Renováveis S.A. PREVIOUS POSITIONS AND EXPERIENCE • She spent 25 years in the US Government as an active duty US Navy cryptolo- gist US Navy Reserve intelligence officer, a civilian employee of the Office of Na- val Intelligence, the Defense Intelligence Agency, the Office of the Secretary of Defense and the Central Intelligence Agency • Deputy Director - Central Intelligence for Community Management • Executive Director - President’s Foreign Intelligence Advisory Board in the White House • Senior partner and Executive Vice President - Booz Allen Hamilton with P&L re- sponsibility in the firm’s homeland security business (2005) ________________________________________________________________________ CURRENT MAIN EXTERNAL APPOINTMENTS • Since 2017, Dempsey has focused on helping small and midsize companies achieve quality growth in the federal and commercial markets, particularly, in the technology sector • She serves on five corporate boards, two proxy boards, and two commercial ad- visory boards • She serves on two government senior advisory boards

256 Rosa García CURRENT POSITION Member of the Board of Directors - EDP Renováveis, S.A. Member of the Audit, Control, and Re- lated Party Transactions Committee - EDP Renováveis, S.A. Member of the Appointments, Remu- nerations and Corporate Governance Committee - EDP Renováveis, S.A. PREVIOUS POSITIONS AND EXPERIENCE • She has more than thirty years of international experience in the fields of Infor- mation Technology, Energy, Infrastructure, and Manufacturing. The majority of her career was spent at Microsoft and at Siemens • Director of Corporate Strategy - Microsoft working at the company's head- quarters in Redmond United States (1996-1999) • General Manager - Microsoft Worldwide Partner Group. She directed Mi- crosoft's worldwide strategy for more than 640,000 independently owned- and-operated partner companies (1999-2002) • Executive Chair - Microsoft in Spain (2002-2008) • Consumer & Online Vice-President - Microsoft Western Europe (2008- 2011) • Executive Chair - Siemens in Spain (2011-2018) • Non-Executive Chair - Siemens Gamesa immediately after the merger of Sie- mens Wind Power and Gamesa (2017-2018) • She has more than ten years of experience as a Non-Executive Director of the Board for several IBEX companies including Banesto, Bolsas y Mercados Espa- ñoles, Acerinox and Bankinter. In every company, she has been either a mem- ber of the audit and control committee or of the nominations and remuneration committee • Non-Profit work: Member of the Board at the Asociación para el Progreso de la Direccion (2002-2019). President of the German Chamber of Commerce in Spain (2016-2018). Member of the Advisory Board for the Universidad Europea de Madrid and Vice-president of Consejo Social de la Universidad Carlos III de Madrid (2008-2018) • Awarded by AED (the most prestigious Spanish CEO association) as “Spanish CEO of the Year” • Awarded by the President of Germany the Cross of Merit, one of the highest ci- vilian honor that can be granted in the country ________________________________________________________________________ • Bachelor’s degree in Mathematics - Universidad Autónoma de Madrid CURRENT MAIN EXTERNAL APPOINTMENTS • Member of the Board - Mapfre and Sener and Non-Executive Chair of Exolum

257 José Morgado CURRENT POSITION Member of the Board of Directors of EDP Renováveis S.A: Member of the Audit, Control, and Re- lated Party Transactions Committee of EDP Renováveis S.A: Member of the Appointments, Remuner- ations and Corporate Governance Com- mittee of EDP Renováveis, S.A: PREVIOUS POSITIONS AND EXPERIENCE • Employed in the investment banking arm of Midland Bank and HSBC (1984) • Joined BCP Investimento in Lisbon as an investment banker and within Banco Comercial Português (1997-1999) was in charge of the medium and long-term business of centre and south regions in Portugal • Member of the Board and Chief Financial Officer - Seguros e Pensões SGPS, and member of the board of the insurance companies of the group in Portugal and Mozambique as well as Chairman of the Board of the Spanish subsidiary (2000- 2005) • Vice President and Chief Financial Officer - ONI SGPS, a telecoms operator in Portugal and Spain (2005-2007) • CEO- INAPA IPG SGPS (2007-2015) • Chairman - EUGROPA, European Paper Merchant Association in Brussels (2012-2015) • Board Member - REN-Redes Energéticas Nacionais SGPS and Chairman of the Board - OZ Energia SA (2011-2015) • CEO- Banco Montepio • Member of the Board - Associação Portuguesa de Bancos ________________________________________________________________________ • Postgradute degree in Corporate Governance - Universidade de Lisboa – Law Department and the International Directors Programme – IDP Certification Cor- porate Governance at INSEAD in Fontainebleau • Degree in Business and Management - Universidade Católica CURRENT MAIN EXTERNAL APPOINTMENTS • Chairman of the Board - VERLINGUE- Corretores de Seguros since 2018 • Member of the Board - NORFIN – SGOIC since 2021 • Corporate Governance adviser of family-owned groups

258 María González Rodríguez CURRENT POSITION Secretary of the Board of Directors - EDP Renováveis, S.A. PREVIOUS POSITIONS AND EXPERIENCE • Between 1997 and 2000 she worked as Corporate Lawyer at the Madrid office of Squire, Sanders & Dempsey LLP (American law firm) • Between 2000 and 2008 she worked as Senior Lawyer at Duro Felguera, S.A. (Spanish EPC contractor, listed at the Spanish Stock Exchange) being responsi- ble for its international legal area • Joined EDPR in 2008 and has since then worked at the General Secretary area, serving from 2019 as Vice-Secretary of the Board of Directors and Board Com- mittees • Member and/or Secretary of several Boards of Directors of EDPR’s subsidiaries • Executive Director - EDPR Legal Department, in charge of the Legal Business Development area which manages Procurement, Finance and Energy Manage- ment legal activities of EDPR in all its geographies ________________________________________________________________________ • Bachelor of Laws (LL.B.) and Bachelor Degree in Economics - Universidad Pon- tificia de Comillas (ICADE) • Executive Program - IE Business School • International Directors Program - INSEAD

PricewaterhouseCoopers Auditores, S.L., Torre PwC, Pº de la Castellana 259 B, 28046 Madrid, España Tel.: +34 915 684 400 / +34 902 021 111, Fax: +34 915 685 400, www.pwc.es 1 R. M. Madrid, hoja 87.250-1, folio 75, tomo 9.267, libro 8.054, sección 3ª Inscrita en el R.O.A.C. con el número S0242 - CIF: B-79 031290 Independent reasonable assurance report on the design and effectiveness of the Internal Control System over Financial Reporting (ICSFR) To the Board of Directors of EDP Renováveis, S.A.: We have carried out a reasonable assurance engagement of the design and effectiveness of the Internal Control System over Financial Reporting (hereinafter, ICSFR) and the description of it that is included in the attached Report that forms part of the corresponding section of the Corporate Governance Report of the Directors Report, prepared according to the applicable portuguese regulation, accompanying the consolidated annual accounts of EDP Renováveis, S.A., and its subsidiaries (hereinafter, the EDPR Group) as at December 31, 2021. This system is based on the criteria and policies defined by the EDPR Group in accordance with the guidelines established by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in its "Internal Control-Integrated Framework" report. An Internal Control System over Financial Reporting is a process designed to provide reasonable assurance over the reliability of financial information in accordance with the applicable financial reporting framework and includes those policies and procedures that: (i) enable the records reflecting the transactions performed to be kept accurately and with a reasonable level of detail; (ii) provide reasonable assurance as to the proper recognition of transactions to make it possible to prepare the financial information in accordance with the accounting principles and standards applicable to it and that they are made only in accordance with established authorizations; and (iii) provide reasonable assurance in relation to the prevention or timely detection of unauthorised acquisitions, use or sales of the Group’s assets that could have material effect on the financial information. Inherent limitations In this regard, it should be borne in mind that, given the inherent limitations of any Internal Control System over Financial Reporting, regardless of the quality of the design and operation of the system, it can only allow reasonable, but not absolute security, in relation to the objectives it pursues, which may lead to errors, irregularities or fraud that may not be detected. On the other hand, the projection to future periods of the evaluation of internal control is subject to risks such that said internal control being inadequate as a result of future changes in the applicable conditions, or that in the future the level of compliance of the established policies or procedures may be reduced. Director's responsibility The Directors of EDP Renováveis, S.A., are responsible for taking the necessary measures to reasonably ensure the implementation, maintenance and supervision of an appropriate Internal Control System over Financial Reporting, as well as the evaluation of its effectiveness, the development of improvements to that system and the preparation and establishment of the content of the information relating to the ICSFR attached. Our responsability Our responsibility is to issue a reasonable assurance report on the design and effectiveness of the EDPR Group Internal Control System over Financial Reporting, based on the work we have performed and on the evidence we have obtained. We have performed our reasonable assurance engagement in accordance with International Standard on Assurance Engagements 3000 (ISAE 3000) (Revised), "Assurance Engagements other than Auditing or Reviews of Historical Financial Information", issued by the International Auditing and Assurance Standards Board (IAASB) of the International Federation of Accountants (IFAC).

2 A reasonable assurance engagement includes the understanding of the Internal Control System over Financial Reporting, assessing the risk of material weaknesses in the internal control, that the controls are not properly designed or they do not operate effectively, the execution of tests and evaluations on the design and effective implementation of this ICSFR, based on our professional judgment, and the performance of such other procedures as may be deemed necessary. We believe that the evidence we have obtained provides a sufficient and adequate basis for our opinion. Our Independence and Quality Control We have complied with the independence requirements and other ethical requirements of the International Accounting Professionals Code of Ethics (including the International Independence Standards) issued by the International Ethics Standards Board for Accountants (Code of IESBA, for its acronym in English), which is based on the fundamental principles of integrity, objectivity, professional competence and diligence, confidentiality and professional behavior. Our firm applies the “International Standard on Quality Control 1 (ISQC 1)” and maintains a qualitative global control system that includes documented policies and procedures regarding compliance with ethical requirements, professional standards, and applicable legal and regulatory provisions. Opinion In our opinion, the EDPR Group maintained, as at December 31, 2021, in all material respects, an effective Internal Control System over Financial Reporting for the period ended at December 31, 2021, which is based on the criteria and the policies defined by the EDP Renováveis Group’s management in accordance with the guidelines established by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in its "Internal Control-Integrated Framework" report. In addition, the attached description included in the Corporate Governance Report within the Directors Report of the ICSFR Report as at December 31, 2021 has been prepared, in all material respects, in accordance with the requirements established by the Code of Recommendations of the IPCG and the Appendix I to CMVM Regulation nº 4/2013 for the purposes of the description of the ICSFR in the Reports of Corporate Governance. This work does not constitute an audit nor is it subject to the regulations governing the audit activity in force in Spain, so we do not express any audit opinion in the terms provided in the aforementioned regulations. PricewaterhouseCoopers Auditores, S.L. Iñaki Goiriena Basualdu 16 February 2022 2022-02-16 09:29:04 ( UTC +01:00 ) 22725304Q IÑAKI GOIRIENA

264 Remuneration Report In compliance with both the Portuguese Securities Code, and the Spanish Companies Act, EDP Renováveis S.A. ("EDPR" or "Company") issues this Remuneration Report with the aim to provide a comprehensive view of the remuneration received by the members of its Governing Bodies, including all benefits, regardless of their form, attributed or due during the 2021 finan- cial year. The Remuneration Policy of EDPR is defined by its Appointments, Remunerations and Corporate Governance Committee, and presented to its Board of Director for its final approval at the Shareholders’ Meeting level. As a result, at the General Meeting held on April 12 th , 2021, the proposal submitted for the Remuneration Policy applicable in 2021 was approved by EDPR Shareholders’’ Meeting. Approval procedure of the Remunerations Policy of the Board of Directors The definition of the proposal of the remuneration policy for the members of the Board of Directors of EDPR is incumbent on the Appointments, Remunerations and Corporate Governance Committee which is a delegated body of the Board of Direc- tors, that in order to avoid any conflict of interest, is entirely composed by non- executive and independent members. Under such competences this Committee takes the responsibility for proposing to the Board of Directors the determination of the remuneration of the Executive Directors of the Company; the Remuneration Policy, the evaluation and compliance of the KPI’s (Key Performance Indicators); the annual and multi annual variable remuneration, and also proposes the remuneration of the Non-Executive Directors and members of the Board Committees. As such, this Committee prepares a proposal that defines the remuneration to be attributed to Directors, with the purpose that it reflects the performance of each of them, establishing for the Executive Directors a variable component which is consistent with the maximization of the Company's long term performance (variable annual and multi-annual remuneration for a three-year period), for the achievement of the most challenging objectives of the business plan, thereby guaranteeing the alignment of the performance of the governing bodies with the interests of the shareholders. The Board of Directors is responsible for the approval of the above-mentioned proposals except to the extent it concerns the Remuneration Policy which approved by the General Shareholders’ Meeting as an independent item of the agenda. As a Company integrated in a multinational business group, EDPR aims to maintain a solid culture that ensures the man- agement, monitoring, control and supervision of the risks that the Group, its shareholders, employees, customers and, in general, all its stakeholders face, including those arising from the remuneration systems it adopts. EDPR adopts the trans- versal remuneration practices applied in EDP group, consistent and based on common principles that comply with the regu- lations applicable in the jurisdictions where it operates. As such, the remuneration systems applied, including those applicable to the Executive Directors, are defined to promote a culture of merit and high performance that ensures that people and teams are recognized, encouraged and awarded on the basis of responsibility, availability, loyalty and competence placed at Group’s service, ensuring action aligned with the long- term interests of shareholders and promoting sustainable actions The proposal for remuneration policy of the members of the Executive Directors also aimed at simplify, and provide trans- parency and clarity, favoring a complete understanding of the framework of principles and rules that constitute it, and which will be applied and evaluated by the Appointments, Remunerations and Corporate Governance Committee. 6.0.

265 Definition, revision and renewal of the Policy The definition of the Remuneration Policy of EDPR is submitted for approval by the General Meeting, on a proposal from the Board of Directors, based on the proposal presented by the Appointments, Remunerations and Corporate Governance Com- mittee. Likewise, as in line with EDP Group corporate governance practices, EDPR has signed an Executive Management Services Agreement with EDP under which the Company bears the cost for such services to some of the members of the Board of Directors (Executive and Non-Executive) to the extent their services are devoted to EDPR, the Audit, Control and Related Party Transactions Committee (which is also entirely composed by non-executive and independent members) is involved in any revision and/or amendment of this agreement. The definition and possible proposals for revision of the Remuneration Policy by the Appointments, Remunerations and Cor- porate Governance Committee are based on the articulation of EDPR long-term objectives, measured according to its stra- tegic plan at all times, in the conclusions of comparative remuneration studies with national listed companies and with for- eign sectoral peers and on an articulation of principles with the remuneration plan of other employees of the Group. The Appointments, Remunerations and Corporate Governance Committee may hire the external consultants and support necessary for the performance of comparative remuneration studies and corporate governance best practices within the framework of directors' remuneration policies, assessing their conditions of independence for the provision of the services that may be requested. Regulatory Framework and principles of the Remuneration Policy applied in 2021 EDPR is a Spanish Company listed in a regulated stock exchange in Portugal. The corporate organization of EDPR is sub- ject to its personal law and to the extent possible, to the recommendations contained in the Corporate Governance Code of the Instituto Português de Corporate Governance (“IPCG”). As such, the Company intends to comply with both legal systems but always taking into account that its personal law is the Spanish one, and that in case of discrepancy, the aim is to adopt the law that entails more protectionism for its shareholders. As in 2021 the amendment of the Spanish Companies Act that transposes the Directive No 2017/828 of the European Par- liament was still not approved, EDPR applied a Remuneration Policy that was issued in line with the applicable Portuguese law (that at that moment already had amended its Securities Code to transpose the such directive). As such, the Remuner- ation Policy applied in 2021 (duly approved by its Shareholders’ Meeting) complies comply with Article 26 - C of the Securities Code (as amended by Law No. 50/2020 of 5 August), the IPCG Corporate Governance Code adopted by EDPR and interna- tional good practices, being aligned and consistent with the remuneration policy and remuneration practices applied to all employees of the Group. Total remuneration and the remuneration model in general should be competitive, aligned with the practices of the interna- tional electricity sector and the renewables market, facilitating the attraction and retention of talent, and the commitment to the challenges and ambitions of the company.

266 A. Remuneration structure and disclosure Pursuant to Article 26 of the Company’s Articles of Association the Directors shall be entitled to a remuneration which con- sists of a fixed amount to be determined annually by the General Shareholders’ Meeting for the whole Board of Direc-tors. This article also establishes the possibility of the Directors of receiving attendance fees or being remunerated with Company shares, share options, or other securities granting the right to obtain shares or by means of share-indexed remuneration systems. In any case, the system chosen must be approved by the General Shareholders’ Meeting and comply with current legal provisions. The remuneration policy applicable for 2021 defines a structure with a fixed remuneration for all members of the Board of Directors, whereas for the members of the Executive Directors defines a fixed and a variable remuneration, with an annual component, and a multi-annual component. The Non-Executive Directors only receive a fixed remuneration, which is calculated on the basis of their work exclusively as Directors or, if such is the case, considering their membership/chairmanship of the Appointments, Remunerations and Cor- porate Governance Committee, and to the Audit, Control and Related Party Transactions Committee. Except in the case of the Chairperson of the Board of Directors, the directors that are also members/chairperson of the Delegated Committees receive for these functions a complement to their fixed remuneration as members of the Board. As already indicated, EDPR has signed an Executive Management Services Agreement with EDP, under which the Company bears the cost for such services to some of the members of the Board of Directors to the extent their services are devoted to EDPR. In 2021 these Directors were Miguel Stilwell d’Andrade and Rui Teixeira (Executive Directors), and Vera Pinto, Ana Paula Marques and Miguel Setas. Likewise Antonio Mexía and Joao Manso Neto services were considered under the scope of the Management Services Agreement but no amounts were paid to them for their positions held in EDPR in 2021. The total amount of the remunerations that the Company will pay to its Directors shall not exceed the amount determined by the General Shareholders’ Meeting. The maximum remuneration approved by the General Shareholders’ Meeting for all the members of the Board of Directors for fixed remuneration is EUR 2,500,000 per year and the maximum annual amount approved by the General Shareholders’ Meeting for the variable remuneration for all the executive members of the Board of Directors is EUR 1,000,000 per year. i) Remuneration of EDPR Directors for their functions as Members of the Board This section includes the information regarding the remuneration received by EDPR Board members in 2021 provided that: - Given the public notice of the lack of availability of António Mexia and João Manso Neto to be members of EDP, they were dismissed by the Ordinary Shareholders’ Meeting Held on April 12 th 2021 from their positions as Board Members, and no amounts were paid to them for their positions held in EDPR in 2021. - Duarte Bello and Spyridon Martinis presented the resignation to their positions as Board Members with effects January 19 th , 2021; Miguel Angel Prado presented the resignation to his position as Board Members with effects January 22 nd , 2021; and António Nogueira Leite, Conceição Lucas, Francisco Seixas da Costa and Alejandro Fernández de Araoz presented the resignation to their positions as members of the Board of Directors with effects April 12 th ,2021, thus the amounts shown in the tables for them reflect the remuneration received for the functions performed until such date. - Miguel Stilwell d’ Andrade, Ana Paula Marques and Joan Avalyn Dempsey were appointed by co-option on January 19 th , 2021, and António Gomes Mota, Miguel Nuno Simões Nunes Ferreira Setas, Rosa García García, and José Manuel Félix Morgado were appointed by the Shareholders’ meeting held on April 12 th , 2021, thus the amounts shown in the tables for them reflect the remuneration received for the functions performed since such dates.

267 Fixed component – base remuneration Conditions The fixed remuneration of the members of the Board of Directors is aligned with the basic remuneration practiced by a number of companies comparable to EDPR, the national market and the international electricity sector, in terms of size, market capitalization, risk profile, relevance and geographical implementation, while also considering, at all times, the com- plexity of the functions performed, the remuneration conditions of its employees and the non-increase of the average market pay gap between workers and administrators. The Non-Executive Directors only receive a fixed remuneration, which is calculated on the basis of their work as Directors and if such is the case, a complement as Member or Chairperson of the Appointments, Remunerations and Corporate Gov- ernance Committee and/or to the Audit, Control and Related Party Transactions Committee. Such amounts are cumulative, except for the Chairman of the Board of Directors who does not receive any complement derived from his role at any Com- mittee. Figures 2021 Below the list of EDPR Directors as of December 31 st 2021, and the amounts paid by EDPR either (i) as remuneration to them or (ii) as fee to EDP under the Management Services Agreement for their services (not remuneration), marked in green, for their functions performed at the Board of Directors level: DIRECTOR REMUNERATION FEES MANAGEMENT SERVICES AGREEMENT EDP-EDPR EXECUTIVE DIRECTORS Miguel Stilwell d’Andrade - 384,000€* Rui Teixeira - 290,000*€ NON-EXECUTIVE DIRECTORS António Gomes Mota 172,500€ - Vera Pinto - 45,000€* Ana Paula Marques - 45,000€* Miguel Setas - 33,750€* Manuel Menéndez Menéndez 60,000€ - Acácio Jaime Liberado Mota Piloto** 60,000€ - Allan J.Katz 60,000€ - Joan Avalyn Dempsey 56,250€ - Rosa García** 48,750€ - José Félix Morgado** 48,750€ - Sub- Total 506,250€ 797,750€* Total 1,304,000€ *These amounts correspond to the service fee paid by EDPR to EDP under the Management Services Agreement for the services rendered in 2021 by such director. In addition, EDPR pays to EDP a 5% of such service fee which is applied to the retirement savings plan of these Directors . **These Directors also received remuneration for their Chairmanship/membership in the Delegated Committees.

268 The amounts paid by EDPR for the Directors that presented their resignation during 2021 for their functions as Members of the Board were as follows: DIRECTOR TOTAL FIXED (€) EXECUTIVE DIRECTORS João Manso Neto 0 Duarte Bello* 5,150€ Spyridon Martinis* 5,150€ Miguel Ángel Prado* 0 NON-EXECUTIVE DIRECTORS Antonio Mexia 0 António Nogueira Leite** 22,500€ Francisco Seixas da Costa** 22.500€ Conceição Lucas** 22.500€ Alejandro Fernández de Araoz Gómez-Acebo 22.500€ TOTAL 100,300€ *Duarte Bello, Spyridon Martinis and Miguel Angel Prado for the relevant period of 2021 corresponding to each of them, received their remuneration as Directors as described on the table above and as Executive Directors and detailed in Section D. **These Directors also received remuneration for their Chairmanship/membership in the Delegated Committees. The total amount paid by EDPR in 2021 either (i) as remuneration and (ii) as fee to EDP under the Management Services Agreement, for the services performed by its Directors as members of its Board was of 1.404.300€, which is below the maximum amount agreed by the Shareholders’ Meeting (2,500,000€). Variable remuneration Conditions The annual variable remuneration has the nature of incentive/performance premium linked to financial and non-financial objectives (linked to the Business Plan and budget) of short-term, evaluated annually, reflecting in the year under analysis and possible repercussion in the following years, being paid in cash. The amount of the annual performance premium shall be determined within three months of the approval of EDPR's accounts at the ordinary General Meeting in each year, by reference to the previous year/annual performance period. Variable annual and variable multi-annual remuneration apply to the Executive Directors. The variable and multiannual re- muneration may range from 0 to 102% over the annual fixed remuneration. • If performance reaches less than 90% of the targets set, there is no place for the allocation of an annual variable component; • If the performance recorded is between 90% and 95% of the targets set, an amount corresponding to a 10% of the fixed reference remuneration shall be due; • If the performance recorded is between 95% and 100% of the targets set, an amount corresponding to a 30% of the fixed reference remuneration shall be due; • If the performance recorded is between 100% and 105% of the targets set, an amount corresponding to a 50% of the fixed reference remuneration shall be due; • If the performance recorded is between 105% and 110% of the targets set, an amount corresponding to a 70% of the fixed reference remuneration shall be due; • If the recorded performance reaches more than 110% of the targets set, an amount corresponding to a 85% of the fixed reference remuneration shall be due.

269 According to the Remuneration Policy in place, the maximum variable remuneration (annual and multi-annual) is applicable if all the above mentioned KPI’s were achieved and the performance evaluation is equal or above 110%. The key performance indicators (KPIs) used to determine the amounts of the annual and multi -annual variable remuneration for each year of the term are proposed by the Appointments, Remunerations and Corporate Governance Committee with the aim of aligning them with the strategic grounds of the Company: growth, risk control and efficiency. For the year 2021 the KPIs were: KEY PERFORMANCE INDICATOR CEO / CFO WEIGHT WEIGHT EDPR RESULTS Total Shareholder re- turn 15% 100% TSR vs. Wind peers & Psi 20 100% 100% Shareholders 80% 60% Operating Cash Flow (€ million) 10% 100% AR/Sell-down + TaxEquity (€ million) 10% 100% EBITDA+ sell downgains (€ million) 10% 100% Net Profit (€ million) 10% 100% Core Opex Adjusted (€ thousand/MW) 10% 100% Projects with FID (% of total ’19-’22 additions in BP) 10% 100% Clients 10% Renewable Capacity Built (in MW) 10% 100% Assets & Operations 10% Technical Energy Availability (%) 5% 100% Capex per MW (€ thousand) 5% 100% Environment & Commnunities 5% Certified MW % 5% 100% Innovation & partners 5% H&S frequency rate (employees + contractors) 5% 100% People Management 10% People Management 10% 100% Remuneration Committee 5% 100% Appreciation Remuneration Committee 100% 100% In line with corporate governance practices, the Remuneration Policy incorporates the deferral for a period of three years of the multi-annual variable remuneration, being the relevant payment conditioned to the lack of any willful illicit action, known after the appraisal and which endangers the sustainable performance of the company.

270 Figures 2021 The variable remuneration only applies to Executive Directors, that as of December 31 st 2021 are Miguel Stilwell d’Andrade and Rui Teixeira. As these Directors were appointment in 2021 no variable remuneration was still paid to them for their functions performed at EDPR. Notwithstanding the above, the Executive Board Members that resigned during 2021, received the amounts related to varible remuneration that are referred in Section D, for their services provided in previous years, that were due before their resignation. Non-Monetary Benefits No non-monetary benefits are paid by EDPR to its Board Members, except for a company car for the Chairman of the Board of Directors, that in 2021 corresponded to an amount of €93 488,74 and the retirement savings plan for Executive Directors referred in the following section. Retirement Savings Plan The retirement savings plan applicable to 2021, which is included within the Remuneration Policy applicable for 2021 was defined and proposed by the Appointments, Remunerations and Corporate Governance Committee to the Board of Directors for its submission to the General Shareholder’s Meeting, which approved it on its meeting held on April 12 th , 2021. For the Executive Directors of EDPR (Miguel Stilwell d’ Andrade and Rui Teixeira) it was stablished in a 5% of the fixed fee under the Management Services Agreement. For the year 2021, EDPR paid a fee to EDP under the Management Services agreement of 19,200€ corresponding to the retirement saving plan of Miguel Stilwell d’ Andrade, and of 14,500€ corresponding to the retirement saving plan Rui Teixeira. ii) Remuneration of EDPR Directors for their functions as Members of the Del- egated Committees Conditions In line with Spanish Law and as specifically foreseen in Article 10 of the Company’s Articles of Association, the Board of Directors of EDPR is entitled to create delegated bodies. The Board of Directors of EDPR has set up two committees that are composed exclusively by non-executive and independent members: • Audit, Control and Related-Party Transactions Committee • Appointments, Remunerations and Corporate Governance Committee Except in the case of the Chairperson of the Board of Directors, the directors that are also members/chairperson of the Del- egated Committees receive for these functions a complement to their fixed remuneration as members of the Board.

271 Figures 2021 – Audit, Control and Related Party Transactions Committee Below the list of members of the Audit, Control and Related Party Transactions Committee as of December 31 st 2021, and the amounts paid by EDPR as remuneration to them for the functions performed at this body. The figures below reflect the period of 2021 in which each relevant Director was member of the Committee, provided that Rosa García García, and José Manuel Félix Morgado were appointed on April 12 th , 2021. COMMITEE MEMBER POSITION REMUNERATION Acacio Piloto Chairman 50,000€ Rosa García García Vocal 18,750€ José Félix Morgado Vocal 18,750€ Regarding the members of the Audit, Control and Related Party Transactions Committee that resigned during 2021: Antonio Nogueira Leite received 7,500€ and Francisco Seixas received 7,083€. Figures 2021 – Appointments, Remunerations and Corporate Governance Committee Below the list of members of the Appointments, Remunerations and Corporate Governance Committee as of December 31 st 2021, and the amounts paid by EDPR as remuneration to them for the functions performed at this body. These figures reflect the period of 2021 in which each relevant Director was member of the Committee, provided that Rosa García García, and José Manuel Félix Morgado were appointed on April 12 th , 2021, and that as indicated at the beginning of this section, the Chairman of this Committee, António Gomes Mota, does not receive a complement to its remuneration as Chairperson of the Board for the functions performed at this Committee: COMMITEE MEMBER POSITION REMUNERATION António Gomes Mota Chairperson 0 Rosa García García Vocal 7,500€ José Félix Morgado Vocal 7,500€ Regarding the members of the Appointments, Remunerations and Corporate Governance Committee that resigned during 2021: Conceição Lucas received 5,000€, and Antonio Nogueira Leite and Francisco Seixas received the remuneration for the services to this committee together with the remuneration paid for the services rendered at the Audit, Control and related Party Transactions Committee.

272 B. Alignment of the application of the remuneration with the Remuner- ation Policy adopted. Contribution of the Remuneration Policy to the long-term performance of the Company and criteria taken into ac- count. The remuneration policy adopted by EDPR for 2021 included key elements to enhance a Company’s management perfor- mance not only focused on short-term objectives, but also incorporate as part of its results the interests of the Company and of shareholders in the medium and long term. These elements are: (i) the definition of the indicators in accordance with the 6 clusters, (ii) the relative weight assigned to each KPIs to calculate annual, multiannual variable remuneration (iii) the rele- vance associated with the achievement of such KPIs (iv) the three-year term considered for determining the value of variable multi-annual component of the remuneration (v) the deferral in three years for the payment of the variable multi-annual as recommended by CMVM as a good corporate governance practices, as well as conditioning its payment to the fact of there has not been unlawful actions known after the performance evaluated that may jeopardize the sustainability of the com- pany’s performance, (vi) the use of the qualitative criteria focused on a strategic and medium term perspective of the devel- opment of the Company, and (vii) the existence of a maximum limit for the variable remuneration. C. Performance of the company and remuneration average of the em- ployees 16% 12% 36% 119% -3% 2017 2018 2019 2020 2021 TOTAL SHAREHOLDER RETURN 101.267 101.574 104.851 102.958 101.623 2017 2018 2019 2020 2021 EMPLOYEE AVERAGE REMUNERATION (€)

273 D. Remuneration from other Group Companies The members of the Board of Directors as of end of December 2021 do not receive any payment from any company under EDPR control or subject to EDPR common control. Notwithstanding the above, the following Executive Board Members that resigned during 2021, received the amounts below paid by other Group Companies of EDPR corresponding to the period of 2021 before their resignation: Duarte Bello and Spyridon Martinis up to January 19 th , 2021; and Miguel Angel Prado up to February 22 nd , 2021. DIRECTOR PAYER FIXED VARIABLE ANNUAL VARIABLE MULTI- ANNUAL VARIABLE PLURI- ANNUAL TOTAL Duarte Bello EDP Energías de Portugal, S.A. Sucursal en España 11,878€ 154,534€ 128,975€ 154,425€ 449,812€ Miguel Ángel Prado EDPR North America LLC 67,810$ 191,522$ 263,428$ 217,748$ 740,508$ Spyridon Martinis EDP Energías de Portugal S.A. Sucursal en España 11,878€ 137,791€ - 154,425€ 304,094€ E. Share-allocation and/or Stock Option Plans EDPR does not have any Share-Allocation and/or Stock Option Plans. F. Refund of a variable remuneration In line with corporate governance practices, the Remuneration Policy of EDPR incorporates the deferral for a period of three years of the multi-annual variable remuneration, being the relevant payment conditioned to the lack of any willful illicit action, known after the appraisal and which endangers the sustainable performance of the company. G. Compliance with the applicable Policy during 2021 The remuneration policy for 2021 was applied without exceptions since its approval.

274 Other remunerations i) Remuneration of the Chairman of the General Shareholders’ Meeting In 2021, José António de Melo Pinto Ribeiro chaired one meeting (Extraordinary Shareholders’ Meeting held on February 22 nd ) before the definitive expiration of his mandate, and the remuneration paid for the provision of this services as Chairman of the General Shareholders’ Meeting of EDPR was EUR 15,000. Based on the proposal submitted by the Appointments, Remunerations and Corporate Governance Committee, and given the referred expiration of the mandate of the former Chairman of the Shareholders’ Meeting, in 2021 it was decided to adopt the general practice followed under the personal law of the Company (Spanish one) that allows the Shareholders Meeting to be chaired by the Board of Directors Chairman, approving at the Extraordinary Shareholders’ Meeting held in February 22 nd the related amendment to the bylaws. Therefore, the Ordinary Shareholders’ Meeting held on April 12 th , 2021, was chaired by the Chairperson of the Board of Directors (who in that moment was Miguel Stilwell de Andrade. ii) External Auditor remuneration in 2021 for EDP Renováveis S.A. and subsidiaries According to the Spanish law, the External Auditor (“Auditor de Cuentas”) is appointed by the General Shareholders’ Meet-ing and corresponds to the statutory auditor body (“Revisor Oficial de Contas”) described on the Portuguese Law. As a result of a competitive process launched in 2017, and following the proposal of the Audit, Control and Related Party Transactions Committee to the Board of Directors, PricewaterhouseCoopers Auditores, S.L. was appointed as EDPR SA External Auditor by the Shareholder’s Meeting held on April 3 rd , 2018. PricewaterhouseCoopers Auditores, S.L., is a Spanish Company registered at the Spanish Official Register of Auditors under number S0242 with Tax Identification Number B- 79031290. The renewal of PricewaterhouseCoopers Auditores, S.L. as External Auditor of EDPR SA for years 2021, 2022 and 2023 was approved by EDPR’s Shareholders Meeting on April 12 th , 2021, and the audit partner in charge of EDPR is Iñaki Goiriena. Figures 2021 TYPE OF SERVICE PORTUGAL SPAIN BRAZIL US OTHER TOTAL % Audit and statutory audit of accounts 170,201€ 623,896€ 188,719€ 1,290,216€ 919,016€ 3,192,048€ 94.6% Total audit related services 170,201€ 623,896€ 188,719€ 1,290,216€ 919,016€ 3,192,048€ 94.6% Other non-audit services - 162,307€ 6,000€ - 14,865€ 183,172€ 5.4% Total non-audit related ser- vices - 162,307€ 6,000€ - 14,865€ 183,172€ 5.4% Total 170,201€ 786,203€ 194,719€ 1,290,216€ 933,881€ 3,375,220€ 100% The amount of Other non-audit services in Spain includes, among others, services that refer to the entire Group such as the review of the internal control system on financial reporting and review of the non-financial information related to sustaina- bility included in the EDPR Group’s annual report, which are invoiced to a Spanish companies. This amount also includes the limited review as of March 31 st , 2021, June 30 th , 2021 and September 30 th , 2021 of the EDPR Consolidated Financial State- ments and other reviews for Group consolidation purposes which are considered non-audit services according to the respec- tive local regulation. Total amount for Spain refers to services provided by PricewaterhouseCoopers Auditores S.L.

Members of the Board of Directors of the Company EDP Renováveis, S.A. DECLARE To the extent of our knowledge, the information referred to in sub-paragraph a) of paragraph 1 of Article 245 of Decree-Law no. 357-A/2007 of October 31 st , in sub-paragraph a) of paragraph 1 of Article 8 of the Royal Decree 1362/2007 of October 19 th , and other documents relating to the submission of accounts required by current regulations (including, among others, article 253 of the Spanish Companies’ Act and article 44 of the Spanish Commercial Code), have been prepared in accordance with applicable accounting standards and principles, reflecting a true, faithful and appropriate view of the equity, assets, liabilities, financial position and results of EDP Renováveis, S.A. and the companies included in its scope of consolidation and the management report fairly presents the business evolution, the performance, the business results and the position of EDP Renováveis, S.A. and the companies included in its scope of consolidation, containing a description of the principal risks and uncertainties that they face. That the Consolidated Annual Financial Statements and the Consolidated Management Report submitted, including the Non-Financial Statements, were drawn up by the Board of Directors following the single electronic format and mark up requirements set under the Commission Delegated Regulation (EU) 2019/815 of December 17 th , 2018, at its meeting held on February 15 th 2022. Madrid, February 15 th , 2022. Antonio Sarmento Gomes Mota Chairman Miguel Stilwell de Andrade Vice Chairman Rui Manuel Rodrigues Lopes Teixeira Director Vera de Morais Pinto Pereira Carneiro Director Ana Paula Garrido de Pina Marques Director Miguel Nuno Simões Nunes Ferreira Setas Director Manuel Menéndez Menéndez Director Acácio Jaime Liberado Mota Piloto Director

Concepts and definitions A Asset rotation Strategy aimed at crystallizing the value of a project by selling a minority stake in an asset and reinvesting the proceeds in another asset, targeting greater growth. Availability The percentage of time a wind turbine is technically available to capture the wind resource and convert it to electricity. B Blades The large “arms” of wind turbines that extend from the hub of a generator. Most turbines have either two or three blades. Wind blowing over the blades causes the blades to “lift” and rotate. BOP Balance of plant. All the supporting components and auxiliary equipment of the wind farm other than the generating unit. BP Business Plan. BU Budget. C CAGR Compound annual growth rate. Carbon leakage Occurs when due to the higher costs related with climate change policies (for example taxes or other penalties on carbon emissions), the companies decide to move their production to countries with more relaxed policies, therefore leading to higher carbon emissions ex-post. Capex Capital Expenditure. Funds used by a company to acquire or upgrade physical assets such as property, industrial buildings or equipment (ex: construction of wind farms). Cash-flow Amount of cash generated and used by a company in a given period. Cash flow can be used as an indication of a company’s financial strength. CfD Contract for difference. Remuneration scheme based on the difference between the market price and an agreed “strike price” where if the “strike price” is higher than the market price, the CfD Counterparty pays the generator the price difference. CO 2 Carbon dioxide. A heavy colorless gas that does not support combustion, dissolves in water to form carbonic acid, is formed especially in animal respiration and in the decay or combustion of animal and vegetable matter, is absorbed from the air by plants in photosynthesis, and is used in the carbonation of beverages. COD Commercial Operating Date. Date at which the project starts officially operating, after the testing and commissioning period. Core opex Includes costs of supplies and services and with personnel, costs that are controllable by the company. Critical suppliers Includes suppliers of turbines, balance of plant and O&M. Curtailment The forced shut-down of some or all the wind turbine generators within a wind farm to mitigate issues associated with turbine loading export to the grid, or certain planning conditions. Curtailment is controlled by 275

the regional transmission operator. D Dividend pay-out ratio Measures the percentage of a company’s net income that is given to shareholders in the form dividends. (Total Annual Dividends per Share / Earnings per Share). Dividend policy Set of guidelines a company uses to decide how much of its earnings it will pay out to shareholders. E EBITDA An accounting measure calculated using a company’s net earnings, before interest expenses, taxes, depreciation and amortization are subtracted, as a proxy for a company’s current operating profitability. EMS Environmental Management System. System that assures the protection of the environment through a proactive environmental management of the facilities in operation. EPS Earnings per share. The portion of a company's profit allocated to each outstanding share of common stock. Equity consolidation Accounting process of treating equity investments, in associate companies. Equity account is usually applied where the entity holds 20-50% of voting stock. F Feed in tariffs Remuneration framework that guarantees that a company will receive a set price from their utility, applied to all of the electricity they generate and provide to the grid. Financial investment An asset in which to put money into with the expectation of obtaining gains or an appreciation in to a larger sum of money. Forex/FX The market in which currencies are traded. Full scope Scheme of maintenance in which a third-party supplier is directly responsible for the full maintenance of the project. The project pays a fixed fee and assumes low risk. G GC Green certificate. Tradable commodity proving that certain electricity is generated using renewable energy sources. GCF Gross Capacity Factor – The ratio of a site’s gross output over a period of time, to its potential output if it were possible for it to operate at full capacity continuously over the same period of time. GHG Greenhouse gases. Gases that trap the heat of the sun in the Earth's atmosphere, producing the greenhouse effect; the two major greenhouse gases are water vapor and carbon dioxide; lesser greenhouse gases include methane, ozone, chlorofluorocarbons, and nitrogen oxides. GO/GoO Guarantee of Origin. Tracking instrument that guarantees that electricity has been produced from renewable energy sources. Those GO are traded and used by suppliers to sell green energy. Gross profit An accounting measure calculated using a company’s revenue minus its cost of goods sold. Gross profit is a company’s residual profit for selling a product or service and deducting the cost associated with its production and sale. GW Unit of electric power equal to 1,000 MW. 276

GWH Equal to 1,000 MW used continuously for one hour. H Hedging Risk management strategy used in limiting or offsetting probability of loss from fluctuations in the prices of commodities, currencies, or securities. I IFRS16 Regulatory standard of operating leases that requires the recognition of lease commitments for the entire duration of contracts into the balance sheet liabilities as well as the recognition of a new asset “Right of Use Asset” as counterparty. Installed capacity Capacity installed and ready to produce energy. ISO 14001 ISO 14001:2015 – Environmental Management Certification is an international standard for designing and implementing an effective environmental management system (EMS) to enhance the company’s environmental performance. ISO 45001 ISO 45001:2018 - Specifies requirements for an occupational health and safety (OH&S) management system, and gives guidance for its use, to enable organizations to provide safe and healthy workplaces by preventing work-related injury and ill health, as well as by proactively improving its OH&S performance. ITC Investment tax credit. Tax incentive in the US which differ from the Production Tax Credit in the sense that the Tax Equity Investor receives a one shot tax credit that covers a percentage of the investment. L LCOE Levelized cost of electricity. Provides a common way to compare the cost of energy across technologies. LCOE takes into account the installed system price and associated costs such as financing, land, insurance, transmission, operation and maintenance, and depreciation. The LCOE is a true apples-to-apples comparison of electricity costs and is the most common measure used by electric utilities or purchasers of power to evaluate the financial viability and attractiveness of a wind energy project. M M3 Modular maintenance model. Maintenance scheme which is halfway between the self- perform and a full scope maintenance, with some activities being performed in- house. MW Unit of electric power equal to 106 watts. MWH Equal to 106 watts of electricity used continuously for one hour. N Net capacity factor (NCF) The ratio of a plant’s actual output over a period of time, to its potential output if it were possible for it to operate at full nameplate capacity continuously over the same period of time. Also known as Load Factor. Net debt A metric that shows a company’s overall debt situation calculated using company’s total debt less cash on hand. Net investment Equals (Capex + Financial investments – Financial divestments). O O&M Operations and maintenance. All the activities necessary to run the wind-farm in a reliable, safe and economical way including for instance maintenance, repair, monitoring and operation. 277

P PPA Power purchase agreement. A legal contract between an electricity generator (provider) and a power purchaser (host). The power purchaser buys energy, and sometimes also capacity and/or ancillary services, from the electricity generator. PTC Production tax credit. The result of the Energy Policy Act of 1992, a commercial tax credit in the US that applies to wholesale electrical generators of wind energy facilities based upon the amount of energy generated in a year. R Renewable energy Energy that is derived from resources that are regenerative or that cannot be depleted including wind energy, solar, biomass, geothermal, and moving water. Also known as alternative energy. REC Renewable energy credit. Represents the property rights to the environmental, social, and other non-power qualities of renewable electricity generation. A REC can be sold separately from the electricity associated with a renewable energy generation source. RES Renewable energy sources. RCF Retained cash-flow. The amount to pay dividends to shareholders and/or to fund new investments and includes EBITDA after paying interests and tax equity investor’s costs and after paying distributions to equity partners and taxes. ROIC Cash Return on Invested Capital (based on Cash Flows). Represents a measure of the profitability and value creation of a project or company. RPS Renewable Portfolio Standard. Regulation in the US that places an obligation in certain states on electricity supply companies to source a specific percentage of their energy from renewable sources. S Self-perform Maintenance scheme in which all the maintenance works are done in-house which means that the project assumes the whole risk. Sell-down Divestment strategy by which the company sells majority stakes of projects in operation or under development to recycle capital, with up-front cash flow crystallization, and creates value by reinvesting the proceeds in accretive growth, while continuing to provide operating and maintenance services. SF6 Sulfur hexafluoride. Colorless, odorless, non-flammable and potent greenhouse gas which is used in the electrical industry especially in gas insulated switchgear power installations. Solar PV Solar photovoltaic. Plant that generates electricity by means of solar power through photovoltaics, consisting on an arrangement of several components, including solar panels to absorb and convert sunlight into electricity, a solar inverter, cables and other electrical accessories. T TSR Total Shareholder Return. Measures the return that the stock provides to the shareholder, including dividends paid and the stock price appreciation. Tax equity Financing structure (US) where the tax equity investor contributes capital in exchange of tax benefits and cash distributions during the 1st ten years the park operates, or until investment is recovered. TEI Tax Equity Investor – Financing structure (US) where the tax equity investor contributes capital in exchange of tax benefits and cash distributions during the 278