Shareholder structure

Notes:

For purposes of determining the percentage of 25% of the votes that may be issued by a shareholder, are considered the voting rights attached to shares held by other entities attributable to it pursuant to paragraph 1 of Article 20 of the Portuguese Securities Code.

According to paragraph 3 of article 14 of EDP's By-Laws, votes from a shareholder on its own account or on behalf of another shareholder, shall not be cast in the event that they exceed 25% of the total votes corresponding the total share capital.

China Three Gorges (Europe), S.A. is fully owned by China Three Gorges International Limited, which is 77,7% owned by China Three Gorges International Corporation. China Three Gorges Corporation holds 70% of the share capital of China Three Gorges International Corporation. People’s Republic of China holds 100% of the share capital of China Three Gorges Corporation.

According to paragraph 1(b) of article 20 of the Portuguese Securities Code, the voting rights inherent to the share capital held by Oppidum Capital, SL is imputable to Fernando Masaveu Herrero. Oppidum Capital, SL is 55.9% owned by Masaveu Internacional, S.L. and 44.1% owned by Unicaja Banco, S.A. In turn, Masaveu Internacional, SL is 100% held by Corporación Masaveu, SA. Corporación Masaveu, SA is 41.38% held by Fundación María Cristina Masaveu Peterson, 10.73% by Flicka Forestal, SL and 0.03% by Fernando Masaveu Herrero. Fernando Masaveu Herrero controls Fundación María Cristina Masaveu Peterson, Flicka Forestal, SL and Peña Maria, S.L.. Additionally, Fernando Masaveu Herrero’s spouse holds 18,467 shares of EDP’s share capital and three dependents of Fernando Masaveu Herrero, namely Pedro Masaveu Compostizo, Jaime Masaveu Compostizo and Elias Masaveu Compostizo hold each 542 shares of EDP's share capital. In this sense, in total, 6.83% of the voting rights of EDP, corresponding to 285,934,976 shares of EDP’s share capital, should be imputable to Fernando Masaveu Herrero.