The Board of Directors of Red Eléctrica has proposed to the General Meeting of Shareholders, to be held on 31 March, the appointment of Alberto Carbajo as independent board member, coinciding with the end of the term of María Ángeles Amador after twelve years as a board member of the Company.

As established in the Corporate Enterprises Law and in the Regulations of Red Eléctrica’s Board of Directors, independent directors may not hold their position as board member for a continuous period of more than twelve years. Therefore, it is not possible for María Ángeles Amador to be renewed as an independent board member.

Ms. Amador has been deeply involved in the development of the Company and her work has been crucial in the path undertaken regarding Good Governance, as evidenced by her membership on the Board’s committees. She was Chairwoman of the Corporate Responsibility and Governance Committee between 2007 and 2010, member of the same committee between 2010 and 2012, and member of the Audit Committee between 2012 and 2015. She is currently member of the Appointments and Remuneration Committee.

Alberto Carbajo has extensive knowledge and expertise within the field of energy regulation in Spain and the European Community, as well as experience regarding the activities of Red Eléctrica. As for his professional career path, it is worth noting that formerly he was Director of the International Regulation department of Corporación Unión Fenosa, rendering his services in the General Secretariat of Regulation (2002-2004); Director General of the Compensation Office of Electric Power (until 1991); Director General of Mining and Construction Industries of the Ministry of Industry and Energy (1992-1995), and member to the National Energy Commission (1995-2000).

In addition, he was General Manager of System Operation at Red Eléctrica de España from 2004 to March 2012, and has extensive academic experience and as international consultant in the field of electrical energy.

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