AVANGRID Provides Strategic Update at 2022 Investor Day

Source: www.gulfoilandgas.com 9/22/2022, Location: North America

- Financial outlook of 6-7% EPS and Adjusted EPS compound annual growth rate (CAGR) for 2022-2025 including PNM Resources
- Investing approximately $15 billion through 2025 ($8.1 billion excluding PNM Resources), centered around regulated Networks business
- Reaffirming 2022 Earnings per share (EPS) and Adjusted EPS of $2.20-$2.38
- Optimizing onshore and offshore assets and strengthening the balance sheet through asset rotation and partnerships
- Targeting carbon neutrality in Scope 1 and Scope 2 emissions by 2030

AVANGRID, Inc., a leading sustainable energy company, and a core member of the IBERDROLA group, will hold its Investor Day at the New York Stock Exchange on September 22, 2022 at 9:00 a.m. Eastern Time. AVANGRID’s executive team will outline AVANGRID’s position to provide clean and affordable energy services while leading the way in the U.S.’s clean energy transition. The executive team will provide the investment community with details on the Company’s long-term strategic platform which will drive growth and the financial outlook through 2025.

“AVANGRID is driven by our commitment to execution, growth and value creation,” said Pedro Azagra, chief executive officer of AVANGRID. “Our business mix of regulated and renewables contracted businesses is one of our primary differentiators, as it positions us to fully capitalize on all the benefits the energy transition will bring. In the next several years, we plan to strengthen our position with a disciplined investment plan of approximately $15 billion through 2025, $8.1 billion without PNM Resources. Through our Networks business, we are working to modernize the grid and further integrate clean energy into the system. We are also one of the top renewable energy companies by installed capacity and are leading the way in the development of offshore wind, which is a critical step in the energy transition. These investments in both the regulated and contracted renewables will generate predictable earnings and cash flow through and beyond our 2022 to 2025 long-term outlook.”

For those not able to attend today in person, full access to the AVANGRID Investor Day presentations and audio-only webcast will be available in the Investors’ section on the company’s website at avangrid.com. An audio-only webcast replay of the event will be accessible at avangrid.com shortly after the completion of the event.


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