Committed to promoting cooperative relationships with the Tax Administration

Thus, in Spain, within the framework of the Large Businesses Forum, it participated in drafting the Code of Best Tax Practices, which forms the instrument for a cooperative relationship between the Tax Administration and Spanish taxpayers, and subsequently, Endesa's Board of Directors agreed to the adherence of Endesa and its controlled subsidiaries to the Code.

For its part, Endesa's Board of Directors, at its meeting on 21 December 2020, agreed that Endesa and its controlled subsidiaries and branches in France and Portugal will adhere to the Codes of Good Tax Practices in each of these countries. In France and Portugal, Endesa is subject to simplified versions of the Codes of Good Tax Practices in those countries, in accordance with its size in those markets.

In this regard, since 2016, certain mandatory conduct for the taxpayer has been developed, including:

• That the entity's tax strategy has been set by the Board of Directors, is documented, and is known by the company's senior officers.
• That the Board of Directors has approved operations and investments with special tax risks. 
• That the company's risk management policy has considered measures to mitigate identified tax risks and has established internal corporate governance rules on this matter, whose compliance can be verified. 
• That the company has used effective information and internal control systems for tax risks, such that their design and operation are fully integrated into the general internal control systems of the business it develops. 
• That the company has provided the Tax Administration with truthful information on the above points.

Likewise, in compliance with corporate governance regulations regarding tax matters and as stipulated in the Code of Best Tax Practices, the Audit and Compliance Committee (ACC) is regularly informed of the company's tax situation. In the consolidated annual report on the activities of the Board of Directors' Committees, it can be verified that the Head of Tax Affairs attended the ACC once in 2025, which took note during 2025 of the Tax Policies followed by Endesa, and received information on the review by Endesa's Audit Department of the Tax Compliance Management System, in accordance with the UNE 19602 standard for Tax Compliance Management systems for the maintenance in fiscal year 2025 of the AENOR certification. Furthermore, it received information regarding the issuance of a Tax Transparency Report containing all relevant information for third parties, as well as information on the submission to the Tax Agency of the Transparency Report corresponding to the 2024 financial year and the transfer pricing documentation for the 2023 financial year.

Some of these obligations were already applicable to Endesa as they were provided for in the Spanish Capital Corporations Law and because Endesa is a listed entity.

Likewise, by virtue of the provisions of the aforementioned Annex, Endesa has voluntarily decided to present the Enhanced Transparency Report to the Tax Administration since fiscal year 2016, framed within the scope of reinforcing the good tax transparency practices of companies adhered to the Code. In this regard, on 23 July 2025, the Report relating to the 2024 fiscal year was submitted.  In 2025, a meeting was held with the Tax Administration to analyse the content of the Transparency Report for the 2023 fiscal year, and a Letter was received from the Tax Administration confirming the suitability of all the information presented and thanking the entity for its disposition, collaboration, and transparency towards the Administration.

In January 2025, the transfer pricing documentation for the 2023 fiscal year was voluntarily submitted, in accordance with the proposal of the Plenary Session of the Code of Best Tax Practices of 8 June 2023.

In line with the Group's practices and as a monitoring element of the degree of implementation of the cooperative relationship model with the Tax Administration, the cooperative compliance adherence index is measured as a key performance indicator (KPI). As of 31 December 2025, 100% of the Group companies that meet the requirements for it were adhered to the corresponding Codes of Best Tax Practices in the different countries in which they operate.

Cooperative relationship 

To have certainty regarding transfer pricing, the Endesa Group promotes obtaining Advance Pricing Agreements ("APAs") with the State Tax Administration Agency ("AEAT"). The process for opting for an APA requires a prolonged period to obtain it.

The APAs in force in 2025 are:

• Technical and management support services contract: 16 of the most relevant Endesa Group companies had approved Advance Pricing Agreements (APAs) with the AEAT for the technical and management support services contracts they had signed with various Enel SpA Group companies for the period 2017 to 2023. In 2024, the APAs were renewed for the period 2024 to 2027. The aggregate amount of these contracts exceeds €100M/year. To comply with the APAs, Endesa provides the AEAT with the Corporate Income Tax return, detailing the price calculations and their consistency with the transfer pricing policy, reviews of the effective provision of the services, and compliance with contractual provisions.
• Electricity supply to employees: Endesa has signed an APA with a three-year validity (2024 to 2026) for determining the remuneration in kind for the supply of electrical energy to employees. The determination of the reference price is obtained from the commercial offers published on the CNMC by the main energy marketing companies in the country. These offers are taken during the last three months of the year, and an average is applied, which is communicated in advance to the AEAT to apply that value to supplies for the following year.

Stakeholder relations

Endesa is firmly committed to transparently explaining tax issues that may be of interest to third parties. One of the company's core values is tax transparency towards external stakeholders (shareholders, customers, suppliers, employees, regulators, tax administrations, etc.) concerning the principles of action in tax matters, the bodies involved in Endesa's tax governance, and the details of its tax contributions in the countries where it operates.

In this regard, through its website, Endesa provides a dedicated space with relevant tax information for third parties, aimed at ensuring the ongoing updating of this information, thus creating an easily accessible and understandable information resource for anyone (https://www.endesa.com/es/nuestro-compromiso/transparencia).

Additionally, since 2020, Endesa has published an annual Tax Transparency report that consolidates all the available tax-related information on its website.

Furthermore, Endesa actively participates in several forums related to taxes, sustainability, and corporate social responsibility. This participation allows the company to keep up to date with developments and best practices in these areas, using the opinions and topics discussed in these forums for the continuous review of the information provided externally.

 Associations and Forums in which Endesa Participates:

• Spanish Electricity Industry Association (AELEC): Endesa is a member of AELEC and participates on behalf of this association in the Spanish Confederation of Employers' Organizations (CEOE).
• Spanish Association of Tax Advisors (AEDAF): Endesa is a member through its Head of the Tax Affairs Unit, who is part of the Group of In-house Tax Advisors.
• European Business Tax Forum (EBTF - https://ebtforum.org): In 2019, ENEL, Endesa's majority shareholder, joined this association, which seeks to open a public debate on taxation, providing a comprehensive perspective on the taxes paid by companies.
• Large Businesses Forum: This body promotes greater collaboration between large companies and the State Tax Administration. Endesa actively participates through two working groups.
• Women in Tax: This association is dedicated to promoting and making female talent visible in the tax field, both in Spain and internationally, through support, training, and networking activities. Endesa is a member through its Head of the Tax Affairs Unit. 

Events and Conferences:

• El Economista Tax Transparency in Spanish companies: on 21 January 2025, Endesa participated in the roundtable organised by El Economista and PwC regarding Tax Transparency in Spanish companies following the publication of the Global Tax Transparency & Tax Sustainability Reporting Study 2024, which examines current and future trends surrounding tax transparency and sustainability in tax reports, and where Spain is considered the leading country among all participants.
• Conference organised by AEDAF – In-house Advisors Group: Endesa participated on 20 February 2025 in this conference focused on the digitalisation of the tax function, sharing practical advances in this area alongside industry experts.
• EMEA NewLaw Summit: this event was held on 3 March 2025, organised by PwC Tax & Legal, Digital ES, and El Confidencial, addressing the challenges and opportunities posed by artificial intelligence in transforming legal and tax functions. Endesa participated in panels on generative AI, regulation, and digitalisation.
• III Expansión Tax Gathering: on 19 March 2025, Endesa participated in this Forum, particularly in the debate panel dedicated to the digitalisation of the tax function and the impact of artificial intelligence on tax management, emphasising the importance of technology to improve efficiency and precision.
• Report on the IBEX 35 Tax Contribution: Endesa collaborated in drafting the annual report analysing the total tax contribution of IBEX 35 companies referring to 2024, reaffirming its commitment to tax transparency. The aforementioned Report was presented at the CEOE headquarters on 7 July 2025.

Endesa's participation in these forums and associations demonstrates its commitment to tax transparency and its continuous effort to improve its practices regarding sustainability and corporate social responsibility.