BRAND POLICY

The IBERDROLA Brand as hallmark of the Group

Corporate Governance.

Brand Policy

19 April 2021

The Board of Directors of IBERDROLA, S.A. (the "Company") has the power to design, assess and continuously revise the Governance and Sustainability System, and specifically to approve and update the corporate policies, which contain the guidelines governing the conduct of the Company and of the companies belonging to the group of which the Company is the controlling entity, within the meaning established by law (the "Group").

In fulfilling these responsibilities, and within the framework of the law and the By-Laws, the guidelines for conduct that take shape in the Purpose and Values of the Iberdrola group, and its sustainable development strategy, the Board of Directors hereby approves this Brand Policy (the "Policy").

1. Purpose

This Policy is intended to protect and contribute to the value of the IBERDROLA brand and to establish certain main principles of conduct allowing all of the companies belonging to the Group, to use it as a springboard that contributes to enhance its reputation and to the success of its businesses.

2. Scope of Application

This Policy applies to all companies of the Group, as well as to all investees not belonging to the Group over which the Company has effective control, within the limits established by law.

3. The IBERDROLA Brand

The IBERDROLA Brand belongs to the Company and constitutes one of its strategic assets, both financially and in the social, environmental and corporate governance dimensions: it is a hallmark of the identity of the Company and of the Group and the principal symbol of the Purpose and Values of the Iberdrola group.

As a hallmark of identity, the IBERDROLA brand is a key element in the corporate strategy of the Company and the Group. As the symbol of the Purpose and Values of the Iberdrola group, it is a springboard for creating value that can be used by all of the companies of the Group to contribute to the success of its businesses.

All of the companies of the Group must ensure that the IBERDROLA brand is associated with the principles set out in the Purpose and Values of the Iberdrola group, and thus to its commitments to the maximisation of its social dividend and the sustainable creation of value, the improvement of quality of life, the safety of people and of supply, the protection of the environment and customer focus.

In the case of the Company, the IBERDROLA brand also contributes to two-way interaction with its shareholders, and fosters engagement in corporate life by the shareholders and other Stakeholders, forges a sense of belonging, and contributes to the alignment of their interests with those of the Company.

4. Use of the Brand

The Company may license the use of the IBERDROLA brand to all of the companies of the Group and to the entities in the nature of foundations connected thereto. All licensees shall be required to comply with the provisions of this Policy and any corresponding brand licensing agreement implementing the terms and conditions for using the IBERDROLA brand.

The companies of the Group shall use the IBERDROLA brand in the same manner and in accordance with the standards of the IBERDROLA Brand Usage Guide in effect from time to time, as well as with the quality control clauses of the relevant brand licensing agreement.

Any use of the IBERDROLA brand that differs from the provisions of the IBERDROLA Brand Usage Guide must be authorised in advance pursuant to the provisions of said guide.

The IBERDROLA brand may form part of the trade names and distinctive signs used by the companies of the Group in carrying on their businesses.

The companies of the Group shall ensure that such use of the IBERDROLA brand does not cause confusion regarding their own identity and corporate independence. For these purposes, except in those situations allowed by the IBERDROLA Brand Usage Guide, all of the companies of the Group (other than the Company itself) that use the IBERDROLA brand shall use it together with their own distinctive name.

The listed country subholding companies and the subsidiaries thereof must in any case use a different corporate name and brand that contributes to the differentiation thereof as autonomous entities belonging to the Group. In such instances, ownership of the relevant brand shall be held by each listed country subholding company.

5. Ceasing Use of the Brand

The companies of the Group shall cease to use the IBERDROLA brand, including the use thereof in their own trade name or corporate name, in accordance with the provisions of any corresponding licence agreement, and in any event if such use might risk the reputation of the Group or when the company no longer belongs to the Group. In this latter event, when there are circumstances that so warrant, the Company may authorise companies that no longer belong to the Group to use the IBERDROLA brand on a temporary basis.

6. Protection of the Brand

The Group shall take the actions needed to protect and contribute to the value of the IBERDROLA brand, seeking effective protection of the Company's rights thereto throughout the world and in all areas in which the Group is or expects to be present, particularly including the internet and social networks.

The companies of the Group may not directly or through third parties apply for and/or register trademarks, trade names, domain names, social profiles or any other distinctive mark that is identical or similar to the IBERDROLA brand without the prior approval of the Company.

This Policy was initially approved by the Board of Directors on 22 June 2015 and was last amended on 19 April 2021.

Download the policy in PDF. [PDF]