ISS and Glass Lewis both recommend a vote “FOR” the merger of Iberdrola and Avangrid Page 1

Today, Avangrid, Inc. (NYSE: AGR) (“Avangrid” or the “Company”), a leading sustainable energy company and a member of the group of companies controlled by Iberdrola, S.A. (“Iberdrola”), announced that Institutional Shareholder Services Inc. (“ISS”) and Glass, Lewis & Co. LLC (“Glass Lewis”), two leading independent proxy firms, have each recommended that Avangrid shareholders vote “FOR” the approval of the Agreement and Plan of Merger (the “Merger Agreement”), dated May 17, 2024, by and among Iberdrola, S.A., a corporation organized under the laws of Spain (“Iberdrola”), Arizona Merger Sub, Inc., a New York corporation and wholly owned subsidiary of Iberdrola (“Merger Agreement”), and Avangrid (the “Merger Agreement Proposal”). The Merger Agreement provides that Merger Sub will, on the terms and subject to the satisfaction or waiver of the conditions set forth therein, merge with and into Avangrid (the “Merger”), with Avangrid remaining the surviving corporation and a wholly owned subsidiary of Iberdrola.

“We are grateful for the votes of confidence from the proxy advisory firms in the proposed merger,” said Pedro Azagra, CEO of Avangrid. “We urge all Avangrid shareholders to follow the recommendations of these independent authorities and the Avangrid Board of Directors by voting “FOR” the proposed merger agreement, as not voting will be equivalent to voting against the proposed merger agreement.”