On 22 March, the Chairman of the Red Eléctrica Group, Jordi Sevilla, had his first meeting with the Company’s shareholders. An event that had several highlights and that helped take stock of the past year and also put on the table and discuss future challenges.

(Available only in Spanish)

The main protagonist of this General Meeting was the new 2018-2022 Strategic Plan. Both the Chairman, Jordi Sevilla, and the CEO, Juan Lasala, focused their speeches on the Plan and also made it clear that it is a firm commitment to smart, diversified and sustainable growth. The Plan considers an investment of 6 billion euros over five years and proposes a business model that seeks the balance between regulated activities and those activities subject to market risk.

The plan is based on five pillars:

• Facilitate the energy transition, core mission as the transmission grid manager and electricity system operator
• Consolidate the position of the Company as an operator of reference regarding telecommunications infrastructure
• Expand the business abroad in the fields of electricity and telecommunications
• Be a reference in technological innovation within the scope of its activity
• Strengthen the Group's operational efficiency and financial discipline

The new strategic plan is the Group's response to the challenges posed by the transformation of the production system model, marked by decarbonisation and technological disruption. In the first case, it is especially relevant that 53% of the total investment of the plan (3,221 million euros) will be earmarked for promoting the energy transition. On the other hand, the Plan also stands out for its commitment to technological acceleration and innovation. In this scenario, and in the words of the Chairman, Mr. Sevilla, "electricity, telecommunications and talent are today the new levers of economic development and are also the hallmarks of Red Eléctrica’s new strategy."

Additionally, the CEO, Juan Lasala, highlighted that 2018 was an intense year, with notable milestones and progress made in all of the Group's activities, both in the regulated activity, as well as in telecommunications and business abroad, where the positioning of the Group has continued to be strengthened.

To make this new roadmap possible, the Group has initiated an internal transformation process to adapt the organisation to the new strategic focus. Specifically, the Company has decided to strengthen the accounting and functional independence of the System Operator and Transmission Grid Manager. In addition, Red Eléctrica has opted to promote the area of telecommunications, both nationally and abroad, and promote technological innovation, by creating two new Departments: the Executive Division of Telecommunications and International and the Technology Department.