Avangrid, Inc. - AGR STOCK NEWS

Avangrid, Inc. (NYSE: AGR) has strengthened its Government and Regulatory Affairs team to enhance stakeholder engagement across New York, Connecticut, and Maine. CEO Pedro Azagra recently met with the team's senior leadership to discuss priorities for the year. The company's advocacy efforts have led to significant achievements:

1. The New York Utility Securitization Act was signed into law, benefiting nearly 1.9 million NYSEG and RG&E customers. This allows Avangrid subsidiaries to address over $750 million in legacy storm debt and improve financial health.

2. In Maine, Central Maine Power hosted a stakeholder meeting to gather feedback on climate change efforts and integrated grid planning, focusing on system resiliency, economic growth, electrification support, and increasing renewable energy connections.

Avangrid (NYSE: AGR) has been awarded a $425 million federal capacity contract for its Aroostook Renewable Project by the U.S. Department of Energy (DOE) through the Transmission Facilitation Program. This contract is one of the largest federal investments in Maine's energy development history. The Maine Public Utilities Commission (MPUC) is also preparing to issue a Request for Proposals (RFP) for a transmission line to connect 1,200 megawatts of renewable energy to the New England power grid. Avangrid plans to participate in this RFP, incorporating the awarded contract into its proposal. The project aims to support clean energy goals by developing a high-voltage line to alleviate transmission constraints in Northern Maine. Additional benefits include job creation, increased property taxes, rural broadband investments, and a stronger power grid. The initiative is funded by President Biden's Bipartisan Infrastructure Law, with winning bids expected to be announced in 2025.

Iberdrola, a global clean energy leader, honored four employees from the UK, Spain, US, and Brazil for their outstanding volunteer work at an awards ceremony in Glasgow. The event, attended by Iberdrola Executive Chairman Ignacio Galán and other dignitaries, celebrated the company's commitment to charity and volunteering.

The winners were recognized for their efforts in various areas:

• Pola Michalska (UK): Education Award for cancer research support
• John Schenck (US): Engagement and Promotion Award for inspiring volunteerism at Avangrid
• Layla Rebeca Gomes Costa (Brazil): Raising awareness about electrical grid safety and promoting literacy
• David Aldazabal Uncilla (Spain): Environment Award for forest recovery initiatives

Iberdrola's volunteer programs benefit over 10 million people across 24 countries, with more than a quarter of its workforce participating annually.

Avangrid, a sustainable energy company and Iberdrola Group member, has shared photos of its lineworkers restoring power in Woodlawn and Galax, Virginia, following the impact of Hurricane Helene. The crews, hailing from utilities in New York, Connecticut, and Maine, have been deployed to assist communities affected by the storm.

Pedro Azagra, Avangrid CEO, expressed pride in the crews' efforts, stating, "Our crews are going above and beyond for these communities, just like they do for their customers back home, and I'm incredibly proud of the service they are providing to so many in need after this historic storm."

Avangrid, a leading sustainable energy company operating in 24 states, has fully implemented its return-to-office policy in early 2024. This move aims to maximize efficiency, agility, and engagement of its 8,000+ workforce. Since implementation, the company has seen a 70% increase in occupancy of its nine main offices, averaging nearly 2,000 employees daily.

CEO Pedro Azagra emphasized that face-to-face collaboration will ensure continued success in America's clean energy transition. To ease the transition, Avangrid provided advanced notice, established feedback loops, and implemented additional resources. The company also expanded commuter benefits and renewed its commitment to sustainable transportation incentives.

Avangrid, Inc. (NYSE: AGR) is deploying 73 line crews from its electric utilities in New York, Connecticut, and Maine to support hurricane recovery efforts in Virginia and North Carolina. This response follows Hurricane Helene, a Category 4 storm that left millions without power across the Southeast. The assistance was requested through the North Atlantic Mutual Assistance Group.

The deployment includes:

• 25 crews from NYSEG & RG&E in New York
• 28 crews from United Illuminating in Connecticut
• 20 crews from Central Maine Power in Maine

In total, 198 internal line workers, damage assessors, and support staff will be involved. Avangrid CEO Pedro Azagra emphasized the company's commitment to restoring power and the importance of mutual assistance in wide-scale restoration efforts. The company has previously assisted in recovery efforts, such as after Hurricane Fiona in Nova Scotia in 2022.

Avangrid (NYSE: AGR) has announced a quarterly dividend declaration by its Board of Directors. The dividend, set at $0.44 per share on the company's Common Stock, was declared on September 26, 2024. Shareholders of record at the close of business on December 2, 2024, will be eligible to receive the dividend payment, which is scheduled for January 2, 2025. This announcement demonstrates Avangrid's commitment to providing regular returns to its shareholders.

Avangrid (NYSE: AGR), a leading sustainable energy company, has generated approximately 15,000 GWh of clean energy from its wind, solar, and hydropower plants in the first eight months of 2024. This clean energy production has prevented over 23 billion pounds of carbon emissions annually, equivalent to the CO2 emissions from about 2.5 million gas-powered passenger vehicles for one year or burning about 11.5 billion pounds of coal.

The company's clean energy projects have sequestered the same amount of carbon as about 12 million acres of U.S. forest land. Avangrid aims to achieve carbon neutrality for Scope 1 and 2 emissions by 2030 and is on track to meet its goal of 9.5 GW of emissions-free installed energy capacity by 2025. The company's sustainability goals include decreasing emissions, increasing electrification, and strengthening its power grid to address climate change and serve customers and communities.

Avangrid (NYSE: AGR) shareholders have approved all proposals at the 2024 Annual Meeting, including the Merger Agreement with Iberdrola. This agreement allows Iberdrola to acquire the remaining 18.4% of Avangrid's stock it doesn't currently own. The merger has received approval from the Maine Public Utilities Commission and the Federal Energy Regulatory Commission. It now awaits approval from the New York Public Service Commission, with the transaction expected to close in Q4 2024.

Shareholders also elected 14 nominees to the Board of Directors, ratified the appointment of the independent public accounting firm, and approved executive compensation. Upon closing, Avangrid will become a privately-held company and delist from the NYSE. CEO Pedro Azagra expressed excitement about Iberdrola's continued investment and commitment to leading the clean energy transition in the United States.