Net Asset Value(s)

24 Feb 2021 08:05

Borja Acha BesgaSecretary of the Board of Directors

Madrid, 24 February 2020

In accordance with the provisions of Article 226 of the Spanish Securities Market Act, Endesa, S.A. hereby issues notice of the following Insider Information:

Regarding the Company’s Consolidated Financial Statements as at 31 December 2020, the recoverable amount of the assets in the Spanish Non-Mainland Territories (NMT) of Balearic Islands, Canary Islands, Ceuta and Melilla was reassessed taking into account, inter alia, Ministerial Order TED/776/2020, of 4 August, revising the product and logistics prices for calculating fuel prices and establishing maximum payment start-up times for each type of facility, applicable to production facilities located in non-mainland territories with an additional compensation system. As a result of this reassessment, an impairment loss was recorded for the Cash-Generating Units (CGUs) of each of the Non-Mainland Territories (NMT) of Balearic Islands, Canary Islands, Ceuta and Melilla, totaling €338 million.

In accordance with the current Dividend Policy of ENDESA, S.A., for fiscal year 2020, the ordinary per share dividend will be equal to 100% of the ordinary net profits attributed to the Parent Company in the Consolidated Financial Statements, defined as the Net Profits Attributable to the Parent Company adjusted by the net profits on sales of non-financial assets and net impairment losses on non-financial assets exceeding €10 million, as well as by the initial contribution, net of personnel expenses, for decarbonization and digitization plans, and the net expenses associated with the Public Responsibility Plan for the COVID-19 health crisis. The aforementioned accounting impairment loss therefore has no impact on the determination of shareholder compensation for fiscal year 2020.

Secretary of the Board of Directors

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