OUTLOOK 2018-2022

According to the strategy established for the years to come between 2018 to
2022 and in line with our trajectory in the recent years, we are going to carry
out an investment effort which will reach 34,000 millions euros, going from
5,3000 millions invested in 2018 to an average over 7,000 millions a year until
2022- focused in the renewable generation sources, storage, and the installation
of a smarter grid infrastructure and an important growth of new solutions to our
clients.

As a result of all these investments, combined with an additional effort to

improve the operational efficiency, the Iberdrola Group plans to improve their
results for 2022 to reach between 3,700 millions euros and 3,900 millions euros
of net profit, which entails a growth of 30% compared to 2018. Maintaining our
commitment to improve the shareholder remuneration, the dividend would
increase on-line with the net result, also incorporating an annual floor that will
grow gradually to 0,4 euros per share in 2022.

SOCIAL DIVIDEND TO ACHIEVE SUSTAINABLE DEVELOPMENT GOAL

Iberdrola has created the bases of its 2018-2022 plan with their focus on
building a sustainable future for all people and with the absolute conviction that
the only way to achieve them is to collaborate with Sustainable Development
Goals (SDG).

Thus, we have incorporated these 17 Goals to our business strategy and to our
status as a part of our Social Dividend. We focus our effort on the supply of
affordable and clean energy (Goal 7) and in the climate action (Goal 13), but
with our activity we also contribute to ensure clean water and sanitation (Goal
6), Innovation and Infrastructures (Goal 9), life of the land (Goal 15) to restore
and promote sustainable use of terrestrial ecosystems and to strength the
means of implementation the global partnership (Goal 17) to achieve these
Goals.

Furthermore, Iberdrola’s businesses produce quality employment for 425,000

people all over the world and encourages industrial fabric in all the countries
where the company is set, promoting Goal 8 (decent work and economic
growth).

The Group is defined as a growth engine in these countries in which it will

continue reinforcing its purchases (which reached around 8,000 millions euros in
2018) and their tax contribution (7,939 millions euros). In fact, for each euro
that the company invests, it makes 10,3 euros in GDP in the region where it is
present.