Frequent questions

With a century-long history and a workforce of over 38,000 people, Iberdrola is one of the world's leading energy companies, a global leader in renewable energy, and one of the three largest companies in its sector by market capitalization. The Group supplies energy to nearly 100 million people and operates in the renewable energy, networks, and energy retail sectors across Europe, the United States, Brazil, Mexico, and Australia, with growth platforms in new European and Asian markets.

Thanks to its pioneering commitment to renewables, Iberdrola is an international benchmark in the fight against climate change, having invested more than €120 billion over the past two decades to build a sustainable energy model based on strong environmental, social, and governance (ESG) principles.

Iberdrola has a decentralized structure and management model designed to bring decision-making closer to the locations where it has the greatest impact. This is achieved through subholding companies and business head companies. Additionally, the governance and sustainability system includes a series of measures that provide listed subholding companies with a special framework of enhanced autonomy.

Group Companies: Iberdrola España, S.A.U., Scottish Power, Ltd., Avangrid, Inc., Neoenergia, S.A., Iberdrola México, S.A. de C.V., Iberdrola Energía Internacional, S.A.U., Non-energy business companies

For more information, visit: https://www.iberdrola.com/corporate-governance/structure

The Corporate Governance System is the internal framework made up of the By-Laws, the Mission, Vision, and Values of the Iberdrola Group, the Corporate Policies, the Governance Rules and the Company 's compliance system.

This structure streamlines ordinary management of businesses and provides proper Group coordination to achieve maximum efficiency.

The Board of Directors centres its activity on defining and supervising the Group 's strategic objectives and organisational model, including the approval of the corporate policies on governance, compliance with standards, risks and social responsibility.

The Executive Delegated Committee and the Advisory Committees (Audit and Risk Supervision Committee, Appointments Committee, Remuneration Committee, Sustainable Development Committee)

Iberdrola's Main Business Areas:

• Networks Business: Includes transmission, distribution, and energy storage activities, as well as other regulated operations in Spain, the United Kingdom, the United States, and Brazil.
• Electricity Generation and Customer Business: Covers electricity generation (from both renewable and conventional sources) and customer operations in Spain, Portugal, the United Kingdom, Mexico, Brazil, and other global markets.

Iberdrola 's more than 600,000 shareholders are at the centre of its strategy and its Corporate Governance System.

Proof of this is that, as early as 2015, it was the first electricity company amongst the ten largest in the world by market capitalisation to approve an engagement policy to bolster shareholders ' rights and involvement in the company via new channels of participation and a constructive, permanent and effective two-way dialogue.

For many years now, the company has endeavoured constantly to improve its corporate governance, ethics and transparency, which has placed Iberdrola at the forefront of best international practices and led to receiving recognition and awards from prestigious international organisations.

Iberdrola is driving the energy transition towards a sustainable model through investments in renewable energy, smart grids, large-scale energy storage, and digital transformation, providing its customers with the most advanced products and services.

Main Areas of Activity: Offshore wind, Green hydrogen, Onshore wind, Smart grids, Solar energy and Hydropower.

Iberdrola is committed to a 2024-2026 Strategic Plan focused on expanding electrical grids and growing selectively in renewable energy, aiming to accelerate the energy transition with a secure, clean, and competitive system.

The company already generates 100% emissions-free energy in countries such as the United Kingdom, Brazil, France, Italy, Germany, Poland, Portugal, Greece, and Bulgaria.

It has set a record for the decade in clean energy production in Spain, reaching nearly 10,500 GWh in the last quarter.
Iberdrola operates in multiple countries, including Spain, the United Kingdom, the United States, Mexico, Brazil, France, Germany, and Australia.

For more details on the Strategic Plan, visit: https://www.iberdrola.com/about-us/iberdrola-strategic-plan

After more than 15 years leading the energy transition and investing in renewables, smart grids, and efficient energy storage, Iberdrola remains committed to accelerating this transformation.

Key Areas of Investment: Solar photovoltaic, onshore wind, and offshore wind projects. Expansion and digitalization of smart grids to enhance customer services, optimize operations, and improve efficiency. Pumped-storage hydroelectric energy as a key energy storage solution.

With a solid and forward-looking project, Iberdrola continues to be profitable and value-generating, supported by a sustainable growth strategy, strong management capabilities, and financial and technological potential. This positions the company to successfully tackle the challenges of a rapidly transforming energy landscape.

For more information on the Strategic Plan, visit: https://www.iberdrola.com/about-us/iberdrola-strategic-plan

Iberdrola is promoting energy efficiency through several actions that can be classified into three areas: as an electricity company, it incorporates clean, advanced and efficient technologies into its production and distribution processes; as a retailer, it offers efficient solutions to its customers; and as an energy consumer, it ensures ongoing improvement of energy efficiency at its work centres, buildings and vehicles, developing mobility plans and raising awareness amongst its employees.

The corporate purpose of Iberdrola, aligned with the Sustainable Development Goals of the United Nations' 2030 Agenda, reflects major social trends and addresses significant economic, social, and environmental challenges. It also takes into account the expectations of stakeholders, defining Iberdrola's role as a driver of social change and transformation in the energy sector. Its goal is to continue building, every day and in collaboration, a more electric, healthy, and accessible energy model.

More than 20 years ago, Iberdrola began a profound transformation of its energy model towards one that is sustainable, secure, and competitive, enabling the fight against climate change. During this period, the Group has invested over €100 billion, which has resulted in a total annual employment impact of nearly 400,000 direct, indirect, and induced jobs worldwide and an annual contribution of more than €31 billion to global GDP.

Thanks to the growing share of renewables in its generation mix, the Group's emissions-free capacity and production continue to increase, while emission intensity decreases year after year. This progress puts Iberdrola on the right path to achieving zero emissions in its generation plants and own consumption by 2030 and in all its activities by 2040.

The world needs more and better energy—cleaner and more sustainable—which requires a substantial shift in the energy mix. It is essential to increase the share of electricity, particularly in sectors such as transportation and buildings, and to change the technologies used to produce it.

The electricity sector, although responsible for only 25% of global greenhouse gas emissions, provides the most efficient and reliable solutions for decarbonization, as it has the necessary technologies (renewables).

The resulting electrification of the economy requires increased investment in clean generation, smarter grids, and greater energy storage capacity.

All information available to shareholders is published one month before the General Shareholders' Meeting on Iberdrola's corporate website: https://www.iberdrola.com/gobierno-corporativo/junta-general-accionistas

This section provides shareholders with all key documents necessary for participation and monitoring of the meeting, including the notice of the meeting, agenda, proposed resolutions, and annual reports from the previous financial year.

Additionally, the notice of the meeting is published in the Official Gazette of the Commercial Registry (BOE) and on the website of the Spanish National Securities Market Commission (CNMV).

As established in Iberdrola 's By-Laws, the General Meeting must be held in Bilbao. The specific premises for the meeting is indicated in the announcement of the call to meeting of each General Meeting. If the General Meeting is held exclusively by remote means, the place of the meeting shall be deemed to be the registered office.

The General Meeting must be held within the first six months of each year, on the date decided by the Board of Directors. The date of the meeting is notified at least one month before the event in the announcement of the call to meeting, which is published in the area of Iberdrola's corporate website dedicated to each General Meeting.

Since 2015, Iberdrola has had a shareholder engagement policy, which was a pioneering approach at the time in how listed companies interacted with their shareholders. The Board of Directors has continuously reviewed, reinforced, and updated this policy to further enhance and develop two-way interaction between the company and its shareholders. You can learn more about this policy at: https://www.iberdrola.com/corporate-governance/governance-sustainability-system/corporate-governance-policies/shareholder-engagement-policy

To participate in the General Shareholders' Meeting, Iberdrola provides shareholders with various participation channels. Traditional in-person channels such as banks and service points are still available, but the company has also expanded the use of more sustainable channels, including its website, email, WhatsApp, and other digital platforms.

Additionally, shareholders benefit from the engagement dividend, which is distributed if the General Shareholders' Meeting reaches the established quorum of the company's share capital. Furthermore, shareholders who participate in the meeting will receive a commemorative gift.

All those who have their shares registered in the book-entry register at least five days prior to the date on which the Shareholders' Meeting is to be held. A minimum ownership of shares is not required.

The law requires co-owners to designate one person to exercise their rights; therefore, only one person can attend the General Meeting.

Yes, any shareholder may be represented at the General Shareholders' Meeting by another person, whether or not they are a shareholder.

Iberdrola facilitates the participation of all shareholders at the General Meeting by expanding and simplifying proxy and absentee voting systems. Thus, in addition to the traditional method of sending proxy cards and absentee voting via postal service, we provide shareholders with electronic and telephone channels. All these options are detailed in the area of the corporate website dedicated to each General Meeting.

Yes. The channels of participation are upgraded yearly so all shareholders can use the available means for simple, safe and accessible proxy or absentee voting, including electronic means, by telephone or via postal service, all of which are detailed in the area of the corporate website dedicated to each General Meeting.

The broadcast of the General Shareholders' Meeting includes audio description, subtitles in Spanish and English, and sign language interpretation. These broadcasts can be accessed on the corporate website: https://www.iberdrola.com/corporate-governance/general-shareholders-meeting

Additionally, measures are in place to facilitate access to the meeting venue for individuals with reduced mobility.

Iberdrola also offers the ComunicA Service, providing video interpretation access for investors and shareholders with hearing impairments.

For more information, visit: Iberdrola Shareholders' Office.

The entry to the premises for the General Meeting of shareholder or shareholder companions with reduced mobility or special needs can be authorised. In this case, the companions will attend the event as guests.

The General Shareholders' Meeting has been certified as a sustainable event under the ISO 20121:2012 standard, reflecting the company’s commitment to sustainability, which also extends to event management.

Iberdrola strives to ensure that its corporate events have a positive impact on the community from economic, environmental, and social perspectives. To achieve this, the company promotes initiatives such as: enhancing event accessibility (live streaming, accessible venues, encouraging remote participation, etc.), minimizing the environmental impact of events (using 100% renewable energy, reusing materials, etc.), raising sustainability awareness (analyzing the environmental impact of events, running communication campaigns, etc.).

The optional dividend system "Iberdrola Flexible Compensation" offers shareholders the opportunity to decide whether they prefer to receive all or part of their remuneration in the form of new company shares or in cash.

This system is structured through a bonus share capital increase charged to reserves and a cash dividend payment. All shareholders receive one free allocation right for each share they own on the reference date. Those who wish to receive the dividend in cash must expressly waive these rights.

During the Common Election Period, shareholders can choose from the following remuneration options:

a) Receive new shares completely free of charge.
b) Receive cash by selling all or part of their free allocation rights on the market.
c) Receive cash through the payment of the Supplementary Dividend from the previous financial year.

Shareholders can combine any of these options for different groups of shares they hold.

The value of the remuneration received under options a) and c) will be equivalent in market value terms, without prejudice to tax treatment.

The default option assigned is the payment of the dividend entirely in Iberdrola shares. More details can be found here: https://www.iberdrola.com/shareholders-investors/dividend/dividend-iberdrola-retribucion-flexible/calendar

This decision must be made by you, as it depends on your personal, financial and asset circumstances and applicable tax regime. We recommend that you consult with your financial advisors before making a decision, if necessary.

If you want to know how the "Iberdrola Flexible Compensation" program is taxed, please visit: https://www.iberdrola.com/shareholders-investors/dividend/dividend-iberdrola-retribucion-flexible/tax-treatment

The timeframes vary each year, so to check the exact dates, please refer to the calendar published annually on the corporate website: https://www.iberdrola.com/shareholders-investors/dividend/dividend-iberdrola-retribucion-flexible/calendar

The sale of rights on the market is a stock market transaction, and as such, payment is received once the transaction is settled, usually two days after the sale. However, since each custodian entity may have its own timelines, we recommend checking directly with them.

Shareholders receive one free allocation right per share they own.

The number of rights needed to receive a new Iberdrola share is calculated on the basis of the quoting price of Iberdrola shares during the five days before the approval to launch the transaction, as well as by the formulas approved by the General Shareholders' Meeting in that regard, which are available at the following link: https://www.iberdrola.com/accionistas-inversores/accionistas/dividendo-flexible/calendario.

Likewise, the number of rights required to receive a new Iberdrola will be notified as a significant event.

This will depend on the contract you have signed with your bank or the custodian regarding the deposit and administration of shares (or the instructions you have given to the latter). Generally speaking, these institutions sell leftover rights in the market with the corresponding tax withholding and pay shareholders the result of the transaction in cash.

However, if the contract or instructions that you have given the custodian do not contemplate or allow this sale, these released leftover shares (yours and those of all shareholders in the same situation) will be deposited in a securities account in the name of Iberdrola and on behalf of third parties. Three years after the deposit is established, the shares can be sold by Iberdrola and the cash amount of the sale will be deposited at the disposal of the interested parties in the Bank of Spain or the General Public Depositary as set forth in Article 117.3 of the Companies Act.

Yes, you can acquire more free allocation rights as long as they are available on the market. To do so, you must contact your custodian entity.

Iberdrola does not charge any commission, but shareholders should contact their custodian entity to check if there are any fees associated with dividend payments, as well as to confirm the exact amount of such fees.

No. Increase in share capital is free of costs and fees. Iberdrola will assume the costs of issue, subscription, circulation, admission to trading and all other expenses related to the increase in share capital. However, in accordance with applicable law, the custodian of your shares will be entitled to charge the management fees and expenses it deems appropriate deriving from the maintenance of the shares in accounting records.

"The shareholder remuneration (pay-out) must be sustainable, compatible with maintaining financial strength, and aligned with companies that have a similar business profile. Based on these criteria, shareholder remuneration will range between 65% and 75% of Iberdrola’s net profit, according to the consolidated annual accounts.

In 2010, Iberdrola launched the "Iberdrola Flexible Dividend" program, which was replaced in 2018 by the ""Iberdrola Flexible Compensation"" system. This system offers shareholders the option to choose whether they prefer to receive all or part of their remuneration in the form of new company shares or in cash.

Additionally, to encourage shareholder participation and engagement in corporate life, Iberdrola introduced the engagement dividend in 2022. This dividend is distributed if the General Shareholders' Meeting reaches a quorum of constitution as established by the company’s share capital."

Iberdrola typically provides shareholder remuneration twice a year, in December or January and in July.

Additionally, the company offers the "engagement dividend," which is paid following the corresponding General Shareholders' Meeting.

You can check Iberdrola's dividend payment history at the following link: https://www.iberdrola.com/shareholders-investors/dividend/previous/historical

Similarly, if you would like to know the exact number of dividends paid at a specific time for a certain number of shares, you can use the dividend calculator available at the following link: https://www.iberdrola.com/shareholders-investors/dividend

You can calculate and obtain a graph of the profitability of an investment in Iberdrola over a specific period based on the closing price of the stock on the investment date by accessing the investment calculator at the following link: https://www.iberdrola.com/shareholders-investors/share/price

Iberdrola shares are not nominal, therefore Iberdrola does not have updated information on their holders, their movements or specific situation.

Iberdrola does not have updated information on the holders of its shares, nor on their transactions or specific status. To obtain these details, you should contact the custodian entity of your shares, where they can provide clarification on the number of shares, their status, and any transactions.

On Iberdrola's website, we provide our shareholders with a tool that allows them to check the closing price of the stock on a specific date: https://www.iberdrola.com/shareholders-investors/share/price

Iberdrola's shares are listed on the stock exchanges of Madrid, Barcelona, Bilbao, and Valencia and are traded through the Spanish Stock Exchange Interconnection System (Continuous Market). In New York, the company is traded in the form of ADRs (American Depositary Receipts), with Citibank as the depositary, while the shares of Avangrid Inc. are listed on the NYSE. Additionally, through its participation in Neoenergia (controlling 50% + 1 share), Iberdrola is also present on the B3 Stock Exchange in São Paulo.

Furthermore, Iberdrola is included in more than 65 stock market indices at the national, European, and global levels. Among the most relevant are: IBEX-35, STOXX EUROPE 50 (a key European index featuring the continent’s leading companies), DOW JONES EUROSTOXX 50 (comprising the 50 most significant stocks in the Eurozone), DOW JONES STOXX GLOBAL 1800 (including 1,800 leading companies from Europe, the Asia-Pacific region, and the Americas), DOW JONES SUSTAINABILITY INDEX (ranking companies with the best sustainability profiles).

As part of our commitment to maximum transparency with the markets, we have launched the Shareholders' Club to offer exclusive benefits to those who have shown their support and trust in our company by purchasing Iberdrola shares.

Through the OLS Shareholders' Club, shareholders can carry out various actions, access "Accionistas NEWS Iberdrola" (a platform featuring relevant audiovisual content about the company), submit inquiries or requests for clarification, consult frequently asked questions, watch the General Shareholders' Meeting and other financial events live or on demand, and stay continuously informed about the company’s progress.

Additionally, Iberdrola has established a "permanent meeting" system, allowing any shareholder to ask questions related to financial matters or corporate governance 24/7, with a commitment to respond within a maximum of 48 hours.

For more information about the benefits of joining the Shareholders' Club and the registration requirements, please visit the following link: https://www.iberdrola.com/shareholders-investors/shareholders/shareholders-club