AVANGRID Shareholders Approve All Proposals at 2019 Annual Meeting

AVANGRID, Inc. (NYSE: AGR) shareholders overwhelmingly approved all presented proposals at its 2019 annual meeting today in Boston, Massachusetts. With approximately 99% of shares present by proxy or in person, the vote indicates strong shareholder support for AVANGRID’s strategic direction and governance system.

At the annual meeting, the AVANGRID shareholders voted to elect each of the 14 nominees to the Board of Directors to serve one-year terms expiring at the Company’s 2020 annual meeting. The 14 members elected to AVANGRID’s Board of Directors include four new members:

• Robert Duffy, President and Chief Executive Officer of the Greater Rochester Chamber of Commerce
• Teresa Herbert, Chief Financial Officer and Senior Vice President of Independence Holding Company
• Patricia Jacobs, President of AT&T New England
• Sonsoles Rubio, Internal Audit Director of the Iberdrola Group

With the addition of these four individuals, the percentage of women on the Board has increased to more than a third and half of the board is independent.

Additionally, the AVANGRID shareholders voted to approve the following items proposed by the Board of Directors, with at least 99% of the votes cast in favor of each proposal:

• The ratification of the appointment of KPMG US, LLP as AVANGRID’s independent registered public accounting firm for 2019.
• Advisory approval of the compensation of AVANGRID’s named executive officers as described in the 2019 proxy statement.

AVANGRID’s Board Chairman Ignacio Galán commented, “I am pleased to welcome Robert, Teresa, Patricia and Sonsoles to the Board of Directors. Maintaining a diverse and independent Board is key to AVANGRID’s success and we are excited to add our new members’ unique perspectives as the business evolves and the landscape changes. I would also like to acknowledge the Board members who are ending their tenure and thank them for their dedication and contributions to the company. I am proud of the strides we’ve made in ensuring best-in-class governance practices at AVANGRID.”

Mr. Galán continued, “As part of AVANGRID’s unwavering commitment to a cleaner, more sustainable energy future, we are leading the way with two of the largest clean energy projects in New England that will transform the region’s energy mix: The New England Clean Energy Connect bringing hydro-power from Canada to the region, and Vineyard Wind, the first large-scale offshore wind project ever constructed in the U.S. I was pleased to highlight AVANGRID’s plan to invest $11.8 billion in its businesses through 2022.”

AVANGRID CEO James P. Torgerson added, “In 2018, we positioned ourselves as a pioneer in the U.S. offshore wind industry, and we continued to execute on our strategy to build the grid of the future and develop clean, smart solutions for our customers. As demonstrated by our shareholders’ support for our proposals, we are aligned on our strategic vision for the Company and are pleased to have their confidence as we continue to execute on that plan.”

The final voting results will be presented on a current report on Form 8-K that will be filed with the Securities and Exchange Commission and posted on AVANGRID’s website, www.avangrid.com.

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a leading, sustainable energy company with approximately $32 billion in assets and operations in 24 U.S. states With headquarters in Orange, Connecticut, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns eight electric and natural gas utilities, serving 3.2 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 6,500 people. AVANGRID supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2019 by the Ethisphere Institute. For more information, visit www.avangrid.com.

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