Ignacio Galán reaffirms commitment to invest in the US at Avangrid's General Shareholders' Meeting

Avangrid, Inc. (NYSE: AGR), a leading U.S. clean energy company of the Iberdrola Group, has announced that shareholders have overwhelmingly approved all proposals presented at its 2023 Annual Meeting of Shareholders held in Boston, Massachusetts. With an overwhelming turnout of approximately 98.5% of shares present by proxy or in person, the vote indicates strong shareholder support for Avangrid's strategic direction and governance.

The Chairman of Avangrid's Board of Directors, Ignacio Galán, addressed the company's shareholders at the annual meeting. During his speech, he reaffirmed the company's investment commitment to accelerate the energy transition: "Now more than ever, we need to move towards energy autonomy and decarbonisation. Avangrid is poised to lead America to a clean energy future and provide our customers with more secure, sustainable and affordable energy. Our efforts will also create jobs and economic growth, promote environmental and social justice, and invest in our communities."

At the annual meeting, Avangrid shareholders voted to elect each of the 14 nominees to the Board of Directors, with one-year terms expiring at the company's 2024 annual meeting. In addition, Avangrid's shareholders voted to ratify the appointment of Avangrid's independent public accounting firm, approve on an advisory basis the compensation of Avangrid's named executive officers, and approve amendments to Avangrid's bylaws to implement changes to the committees.

Avangrid CEO Pedro Azagra added: "Avangrid is proud to play a key role in America's energy transition and to be a central part of history in the making. We have a track record of more than 20 years of commitment to clean energy as part of the Iberdrola Group, giving us the experience and dedication to build a clean energy future for all. We will do this through the expansion of smart grids, the continued development of transmission, the strong growth of renewables and the development of green hydrogen."

During the meeting, Azagra also discussed the company's achievements in 2022 and its future prospects:

Continued investments: Avangrid invested $2.7 billion in its grid and renewables businesses in 2022.

Commitment to customers: The company continues to support a stronger and more resilient grid for its customers through rate cases filed in all jurisdictions.

A clean energy future for all: Avangrid continues transmission investments that will help realise Maine and New York's clean energy visions, drive long-term growth and contribute to local economic development and job creation.

Clean energy leader: The company added nearly 400 MW of new wind and onshore solar, including its first utility-scale solar plant, Lund Hill. Avangrid's 8.6 GW fleet of renewables now produces enough emission-free electricity to power around 2.7 million homes.

Offshore wind pioneer: Avangrid is on track to deliver power this year from the country's first large-scale offshore wind facility, Vineyard Wind 1, which will soon serve 400,000 customers across Massachusetts.

Final voting results will be available in a current report on Form 8-K to be filed with the Securities and Exchange Commission and posted on AVANGRID's website, www.avangrid.com.