Awee

Results

2011

�

Quarterly Report

LEGAL NOTICE:

DISCLAIMER

This document has been prepared by Iberdrola, S.A. exclusively for use during the presentation of financial results of the 2011 fiscal year. As a

consequence thereof, this document may not be disclosed or published, nor used by any other person or entity, for any other reason without the

express and prior written consent of Iberdrola, S.A.

Iberdrola, S.A. does not assume liability for this document if it is used with a purpose other than the above.

�

Except for the financial information included in this document (which has been extracted from the annual financial statements of Iberdrola,

S.A. corresponding to the fiscal year ended on December 31, 2011, as audited by Ernst & Young, S.L.), the information and any opinions or

statements made in this document have not been verified by independent third parties; therefore, no express or implied warranty is made as to

the impartiality, accuracy, completeness or correctness of the information or the opinions or statements expressed herein.

Neither Iberdrola, S.A. nor its subsidiaries or other companies of the Iberdrola Group or its affiliates assume liability of any kind, whether for

negligence or any other reason, for any damage or loss arising from any use of this document or its contents.

�

Neither this document nor any part of it constitutes a contract, nor may it be used for incorporation into or construction of any contract or

agreement.

�

Information in this document about the price at which securities issued by Iberdrola, S.A. have been bought or sold in the past or about the

yield on securities issued by Iberdrola, S.A. cannot be relied upon as a guide to future performance.

IMPORTANT INFORMATION

This document does not constitute an offer or invitation to purchase or subscribe shares, in accordance with the provisions of the Spanish

Securities Market Law (Law 24/1988, of July 28, as amended and restated...