ANNUAL REPORT 2020 at EDP, We Are in the Business of Innovating

ANNUAL REPORT 2020 At EDP, we are in the business of innovating. Our 4 decade long track record has turned us into better energy providers and pioneers of the green evolution. Change has been our driver as we deliver an agile network with more efficient, smart and sustainable solutions. As leaders in the energy transition, we see investment in renewables as an active way to engage with future generations, promoting decarbonisation in energy production and consumption. We are playing our part for a more balanced and sustainable world, one that is inclusive, diverse and humane.

We’re changing tomorrow now. 01 02 03 04 INDEX 05 06 07

01 MACRO INDICATORS 05

02 INSTITUCIONAL MESSAGE 06 08

03 STATUTORY BODIES 07 Organisational chart 07 09

04 MISSION & VALUES 08

05 EDP FOUNDATION ACTIVITY 09 5.1. Social investment 10 5.2. Museum 11 5.3. Culture 14 5.4. Art collection 16 5.5. The year in images 18

06 ECONOMIC & FINANCIAL SITUATION 21

07 PROFFIT APPROPRIATION 23

08 FINANCIAL REPORT 25

07 CERTIFICATIONS & STATEMENTS 38

Changing tomorrow now. 03 ANNUAL REPORT 2020

01 Macro indicators 02 03 04 05 FROM DISRUPTION TO EVOLUTION 06 07 08 09

Changing tomorrow now.

04 ANNUAL REPORT 2020

01. 01

MACRO Macro INDICATORS indicators 02 03 04 N.º VISITORS N.º EXHIBITIONS CULTURAL PATRONAGE 05 06 61.045 6 670.500€ 07 08 09 INCOME FROM SOCIAL EDP GROUP EDP FOUNDATION INVESTMENT REGULAR GRANT ACTIVITIES

586.716€ 12.700.000€ 524.876€

05 ANNUAL REPORT 2020

02. 01 INSTITUTIONAL 02 MESSAGE EDP FOUNDATION EXECUTIVE BOARD message Institutional

2020 is a year that will always be remembered for the global Bailado (National Ballet Company), Casa da Música, Arpad In addition, to maintain the best cultural offer possible, in 2020 pandemic that impacted millions of lives and deeply affected Szènes-Vieira da Silva Museum and Orquestra Sinfónica the EDP Foundation launched three issues of the institution’s 03 society and economies worldwide. Juvenil (Youth Symphony Orchestra). All of these have earned magazine Electra, which addressed the themes “Memory and our respect and gratitude for providing access to various forms Forgetting”, “Speed” and “Work and the Future of Work”. We note Due to this crisis, the EDP Foundation felt the urgent need to of culture in such difficult times. that to promote and disseminate culture during the lockdown, 04 carry out its social mission. An intent it sought to accomplish the complete issue of Electra with the theme “Memory and by supporting the most vulnerable citizens, thereby focusing Furthermore, it is important to mention that the EDP Forgetting” was provided for free and entirely online. 05 the year’s social investment efforts on healthcare. Foundation’s cultural activities were also naturally affected by the restrictions imposed on the sector in general. In particular, As in other areas of activity, moments without the public’s Between March and April, the Foundation’s aid to fight the the programming of the MAAT and Tejo Power Station museum presence represent opportunities for a positive intervention 06 pandemic played a particularly important role among an spaces, which are part of the EDP Foundation campus, was in spaces. Therefore, the EDP Foundation campus created extremely fragile segment of the population: the elderly. severely impacted by the lockdown enacted by the Government. new communal areas such as the museum’s cafeteria and 07 Therefore, from the outset, the EDP Foundation mobilised restaurant, a new ticket office, and an information desk in Praça approximately 500 thousand euros to guarantee the distribution Despite these adversities, the EDP Foundation strived to do Carvão (Coal Square). of almost 550 thousand personal protective items to the continue to respond in the best way possible to those seeking 08 residents and staff of retirement homes in 16 districts in culture in Portugal: committed to (1) guaranteeing important Thanks to all of these initiatives, the EDP Foundation not only Portugal. Thanks to this initiative, jointly coordinated with the individual and collective exhibitions during the months when it ended 2020 with the conviction that it fulfilled its duty, but also Ministry of Labour, Solidarity and Social Security, the EDP was open to the public (ex.: Gabriel Abrantes, André Cepeda), took important steps to become a leading institution at the 09 Foundation assisted 300 senior homes and almost 26.000 and (2) offering an ambitious digital programme when in- service of the Portuguese community. beneficiaries with urgent personal protection needs. person access was prohibited.

Because the EDP Foundation believes that Education, Art and To bring this digital programme to life, the EDP Foundation Culture are also important mechanisms to build social inclusion sought the participation of artists, architects and thinkers, and reduce inequalities, which are even greater at this time, who transformed the museum into a poly-functional civic we also maintained our patronage support to various cultural arena, where a series of events questioned the role of cultural institutions. Among several entities receiving this sponsorship, institutions in society and prototyped the museum of the future. we note the Serralves Foundation, Companhia Nacional de

06 ANNUAL REPORT 2020

03. 01 STATUTORY 02 BODIES 03 bodies Statutory EDP FOUNDATION GOVERNING BODIES* ORGANISATIONAL CHART* 04

Board of Trustees Board of Directors 05 CEO President CEO Vasco Rocha Vieira Rui Miguel Coutinho 06 Baptista António Mexia Dingming Zhang José Manuel dos Santos CEO Office Miguel Stilwell Catarina Seixas 07 Miguel Setas Eduardo Rosa Silva Patrick Gois 08 Museum/ Social Programming Innovation Executive Board Supervisory Board 09

President CEO António Mexia Vítor Gonçalves Campus Culture Vera Pinto Pereira Miguel Ribeiro Ferreira Rui Miguel Coutinho Baptista KPMG & Associados José Manuel dos Santos Paulo Campos Costa Financial & Marketing & Administrative Communication

* Situation as at 31 December 2020 07 VALUES & MISSION 04. 2020 REPORT ANNUAL VALUES MISSION

on December 2004. S.A. Portugal, de – Energias EDP by founded status, interest public with institution non-profit aprivate is Foundation EDP The TRANSPARENCY in every choice every in

in management EFFICIENCY

to the community COMMITMENT social, cultural and scientific initiatives. scientific and cultural social, through people, of life of quality the improve help to is mission its corporation, responsible socially and acosmopolitan of Foundation the As

in execution & reporting RIGOUR

INNOVATION in concepts & solutions

06 09 08 04 05 03 02 07 01 08 Mission & values ANNUAL REPORT 2020

01 02 03

FROM TOMORROW TO BEYOND 04 05 activity EDP Foundation Foundation EDP 06 07 08 09

Changing tomorrow now.

09 ANNUAL REPORT 2020

05.1. 01 SOCIAL 02 INVESTMENT 03 04

The EDP Foundation allocated 500 thousand euros to the At the same time, the EDP Foundation also delivered 3,500 PROJECT PARTNER VALUE (€) BENEFICIARIES 05 Programa EDP Solidária (EDP Solidarity Programme), to help protective masks to the APDP - Associação Protectora dos fight the Covid-19 pandemic. This investment was undertaken Diabéticos de Portugal (Portuguese Diabetes Association). EDP SOLIDARITY PROGRAMME activity as part of the “Heróis de Máscaras” (Heroes in Masks) initiative, an exclusive partnership between the Programa EDP Solidária Still in social investment, the EDP Foundation Programa Arte Heróis de Various 501.503 25.914 Máscaras entities

(EDP Solidarity Programme), Correio da Manhã newspaper and Pública (Public Art Programme) was also continued. Targeting Foundation EDP (Heroes in CMTV television channel, and involved donating masks, gloves, low population density regions across the country, this project Masks) safety glasses and disposable gowns to senior homes. For this aims to provide access to art and engage populations in new Programme effort, which took place between March and April 2020, the cultural experiences, as well as stimulate local development by Heróis de 67.350 N.A. 06 Ministry of Labour, Solidarity and Social Security identified 300 bringing public art to rural environments. Máscaras (Heroes in senior homes with urgent needs for equipment to provide care Masks) 07 to their residents and protect their staff. These are Private In 2020, another work was produced in the Minho region, Other costs Charitable Organisations, or legally equivalent entities, that in Braga. This was an intervention by the artist José Pedro SOCIAL INNOVATION PROJECTS care for a minimum of 30 patients. Santos, who transformed an EDP secondary substation in 08 Merelim S. Paio/Panoias into a “watchtower”. Reusing sewage EDP Foundation 1.046 N.A. Solidarity Thus, this initiative benefitted 25.914 residents and pumps in an ironic way, the installation intends to cast a Schools employees of retirement homes in 16 districts in Portugal. warning glance, proposing an environmental vigilance of the 09 EDP Foundation 405 N.A. Altogether, more than 545 thousand personal protective riverside, Cávado river and the monastery’s woodlands. Public Art items were distributed, such as masks, safety glasses, gloves and gowns.

10 ANNUAL REPORT 2020

05.2. 01 During the lockdown, and in order to stay connected 02 MUSEUM to the public, the museum organised, as of 6 April, a virtual opening with specially designed 03 documentaries and digital content. 04 05 activity

The maat’s annual activities were severely restricted by with the staff involved in the museum’s programming, and In the digital domain, maat mode ran for seven weeks, providing

the pandemic, namely due to the lockdown mandated others developed specifically for this domain – interviews, specific daily themes through the museum’s channels in social Foundation EDP on 12 March and which ordered the museum close to visual essays, films, etc. As an example, maat.ext hosted an media – Instagram, Facebook and the new maat channel the public for three months. The new building had been unprecedented audiovisual project by the North American on Youtube: projects with artists from the EDP Foundation closed since the end of 2019 for works on the roof, and artist James Ferraro, as well as a digital presentation by the Art Collection, short documentaries about the history of the 06 the reopening was thereby postponed. The Tejo Power participants of the Living Systems Lab Symposium hosted at repositories of the EDP Foundation Energy Heritage Collection, Station, where two exhibitions were inaugurated in maat by Central Saint Martins – University of the Arts London. exclusive readings from catalogues printed by maat, audio 07 February - Melancolia Programada (Programmed Melancholy) playlists, short films about the science and history of energy by Gabriel Abrantes and Unharias Ratóricas (Rhatorical Nails) Part of the maat mode programmes were also redesigned for for children and families, as well as livestreams of discussions by Von Calhau! – also closed. the digital realm. Featured for six months, maat mode was with prominent architects and artists about the future of 08 n experimental participatory public programme that aimed cultural spaces. During the lockdown, and in order to stay connected to the o temporarily repurpose the museum into a poly-functional public, the museum organised, as of 6 April, a virtual opening civic arena, where a series of events questioned the role of The Power Station and maat reopened to the public on 10 June, 09 with specially designed documentaries and digital content cultural institutions in society and prototyped the museum presenting a communication system created by the French that presented the origins and plans for the new maat of the future. Between June and November, maat presented designer Sam Baron, to help visitor circulation in the museum The maat’s website was also launched at this time, 86 projects by guest curators, with more than 220 international comply with the new regulations. revealing the new visual identity created for the museum’s and local professionals, and 13 partner institutions. The digital platforms, the campus, the museum’s printed media programmes addressed subjects such as climate action, The Power Station reopened the two exhibitions inaugurated and a new editorial platform called maat ext., presented later, sustainability policies, alternative urban development, social in February. At maat, new projects were presented, namely in September, as an extension of the museum’s initiatives in liberty and the role of citizens in the conception of policies Beeline, a large-scale architectural intervention commissioned the digital universe. Maat.ext is a digital space where different to build greener cities, among many others. to the New York-based studio SO – IL and developed in forms of creative production coexist, some developed by and partnership with the Portuguese firm Artworks. Beeline aimed 11 ANNUAL REPORT 2020

to transform maat into a landscape of encounters and The reopening of maat was the subject of major media coverage, Still in October, we inaugurated the exhibition Um Oásis conversations, taking the public through elevated walkways, resulting in more than 114 news pieces, representing an AAV ao Entardecer (An Oasis at Sunset). 20th anniversary EDP 01 stage areas and workshop zones, and creating a second (Automatic Advertising Value) of around 1.5 million euros. Foundation Awards. To celebrate the 20th anniversary of temporary entrance facing the city, in addition to the original the EDP Foundation creating the Prémio Novos Artistas 02 entrance facing the river. This major work was featured In September, two exhibitions were inaugurated in the Power (New Artists Award) and the Grande Prémio Arte (Art Grand alongside the exhibition Currents – Temporary Architectures by Station building: Ballad of Today, a photography project by Prize), this exhibition brought together, for the first time and SO – IL, presented on the elliptical ramp located at the centre André Cepeda, and Festa. Fúria. Femina – Obras da Coleção in an unprecedented format, works by artists who won the 03 of the museum, featuring 12 projects by the studio created over FLAD (Feast. Fury. Femina – Works from the FLAD Collection), various editions of these two awards, presenting, side by side, the last decade. a co-production to mark the 35th anniversary of the Fundação a selection of pre-existing works and new pieces created Luso-Americana para o Desenvolvimento (Portuguese- especially for the occasion. 04 Integrated into Beeline, The Peepshow – Artists from the EDP American Development Foundation) and comprised of 228 Foundation Art Collection was presented, a set of 15 structures, works almost exclusively by Portuguese artists. The museum received 61.045 visitors in 2020 (330.907 in 2019). 05 each dedicated to an artist and their pieces in the EDP Foundation Art Collection. The last quarter of the year was marked by the museum’s 4th In a year of intense digital activity, there was an increase

anniversary, celebrated with three days of free admission to in the number of maat followers on social media – activity Also featured was Memovolts — Stories from the EDP the museum, on the weekend of 3 to 5 October, and with a Facebook, Instagram and the new Youtube channel. Foundation Energy Heritage Collection, seven curated displays programme that, along with the exhibitions on display, also EDP Foundation Foundation EDP that address topics such as “Women in Advertising for Home included guided and themed tours, travelling music, children’s Appliances (1930 - 1950)” and “Memories of the City of Lisbon: theatre, workshops and discussions. the Photography of Kurt Pinto. The Design of Sound and Image 06 (1920-1960)”.

Still accompanying these projects, and as a part of 07 Beeline, three audio stations entitled Sound Capsules were installed, featuring a series of audio proposals with curated 08 content that was especially produced in collaboration with students from ETIC (Escola de Tecnologias, Inovação e Criação The reopening of maat was the subject – School of Technology, Innovation & Creation), as well as the of major media coverage, resulting in more 09 series curated by Gonçalo F. Cardoso, from the recording label Discrepant. Also presented was the sound project than 114 news pieces, representing an Extinction Calls, by the artist Cláudia Martinho, based on the songs and voices of extinct or critically endangered bird AAV (Automatic Advertising Value) species, designed to offer a variety of audio experiences of around 1.5 million euros. throughout the entire museum.

12 ANNUAL REPORT 2020

PROGRAMME ARTIST VALUE (€) VISITORS (1) 01 PROGRAMME 2020 02 Melancolia Programada (Programmed Melancholy) Gabriel Abrantes 42.625 12.222

Unharias Ratóricas (Rhatorical Nails) Von Calhau! 20.838 10.898 03 Ballad of Today André Cepeda 37.221 8.870 04 Commemorative Exhibition for the 20th Anniversary of the EDP Foundation Awards: 235.921 4.735 Um Oásis ao Entardecer (An Oasis at Sunset)

MAAT Mode Programme 783.818 N.D. 05

PROGRAMME 2019 21.499 N.A. activity PREPARATION 2021 PROGRAMME

Exhibition of the EDP Foundation Portuguese Art Collection 51.601 N.A. Foundation EDP

Exhibition of the EDP Foundation Energy Heritage Collection: 44.016 N.A. Contadores de Histórias (Storytellers) 06 Sanatorium Pedro Reyes 24.600 N.A.

AQUARIA — Ou a Ilusão de Um Mar Fechado (Or the Illusion of a Closed Sea) 109.348 N.A. 07 X não É Um País Pequeno (X is Not A Small Country) 63.868 N.A. 08 Earth Bits — Sentir o Planeta (Feel the Planet) 196.467 N.A.

Lightworks Carsten Höller 8.395 N.A. 09

OTHER INITIATIVES

4th Anniversary MAAT 29.825 7.419

Fuso – Anual de Vídeo Arte Internacional de Lisboa Horta Seca – Associação Cultural 5.000 1.759 (Lisbon International Annual Video Art Festival)

(1) Number of visitors to each exhibition. The sum of these numbers does not represent the total number of visitors, since each person can visit several spaces.

13 ANNUAL REPORT 2020

05.3. 01 CULTURE 02

Published by the EDP Foundation since March 2018, Electra Since 2011, the EDP Foundation has also been the Principal During the 2019/20 school year, 12 youths benefitted from is an international magazine that focuses on contemporary Programming Patron of the Arpad Szenes – Vieira da Silva these scholarships. The scholars are introduced every year in a 03 culture and reflection, with memory and perspective, Foundation, an institution committed to disseminating and concert which, in 2020, took place in October. analysing our era, its signs and symptoms, inviting dialogue studying the work of the visual artists Arpad Szenes and Maria 04 between artistic disciplines, the humanities and scientific Helena Vieira da Silva, building a connection with modern and In dance, we highlight the Companhia Nacional de Bailado knowledge. The magazine is published in Portuguese and contemporary art, on a national and international scale. This (CNB-National Ballet Company), a recipient of EDP’s patronage English. In 2020, issues number 8, 9 and 10 of the magazine institution presented 12 exhibitions in 2020, one of which in since 1998. The EDP Foundation is Principal Patron of the 05 were published under the themes “Memory and Forgetting”, partnership with the EDP Foundation – “Epigramas” (Epigrams), by CNB, the only classical-based company in Portugal. The CNB’s “Speed” and “Work and the Future of Work”, respectively. During Isabel Madureira Andrade, a finalist in the 13th edition of the EDP goal is to provide a public service in the field of dance through activity the lockdown, issue number 8 was provided for free and Foundation Prémio Novos Artistas (New Artists Award) in 2019. the promotion and regular production of a dance programme, entirely online. offering citizens the opportunity to enjoy and practise this

In the musical sphere, the EDP Foundation, a founding member area of the arts. In 2020, the CNB programmed 22 shows at Foundation EDP Electra, which in July also launched an Instagram page, of the Casa da Música Foundation, maintained its support of Teatro Camões, in Lisbon, one solidarity dress rehearsal, and participated at the Lisbon and Porto Book Fairs. this institution. It has also been an Exclusive Patron of the EDP 24 activities (visits, workshops, etc.) within the scope of the Foundation Piano Cycle since 2008, an annual programme project Aproximação à Dança (Connect to Dance). 06 In 2020, the EDP Foundation maintained its patronage support comprised of recitals and concerts of outstanding quality, provided to various leading institutions and projects in which aims to present internationally renowned pianists and We also highlight the support provided to the Centro Nacional 07 fields like the visual arts, dance, music, architecture, artistic reveal new national talents. During the 2020 season, 711 events de Cultura (National Culture Centre) in the project for the final education and publication. In a year when the pandemic forced were hosted at Casa da Música (concerts, educational inventory and cataloguing of the Professor Eduardo Lourenço institutions to temporarily suspend or adapt their activities, the activities and tours). collection, comprised of correspondence, handwritten notes 08 foundation was committed to finding new ways to connect with and critical reviews, among other documents. Throughout the its public. The Orquestra Sinfónica Juvenil (OSJ-Youth Symphony year, the inventory process focused particularly on Eduardo Orchestra) also received patronage support from the EDP Lourenço’s epistolary novel. His manuscripts, organised by 09 In the visual arts, the EDP Foundation is Exclusive Patron Foundation. This is the only youth symphony orchestra themes or subjects and, within these, in chronological order, of an important annual exhibition featured at the Serralves operating on a permanent basis in Portugal, filling a gap in the have been essential to make unprecedented discoveries that Foundation’s Museum of Contemporary Art, in 2020 supporting country’s music education system and offering a space for establish the history of his texts and determined the version the exhibition “História numa sala cheia de gente com symphonic practise equipped with the necessary conditions to adopt for publication. This work on the Eduardo Lourenço nomes esquisitos 5” (History in a room filled with people with to train young musicians. In 2020, the OSJ gave 16 in-person collection will provide public access, at the National Library, funny names 5), by the Thai artist Korakrit Arunanondchai in concerts and six concerts broadcast via Facebook. As a part to the personal archive of one of the greatest Portuguese partnership with the North American Alex Gvojic. The exhibition of its involvement with this institution, the EDP Foundation philosophers and essayists of our time, not only enabling its opened to the public on 6 November and remains on display grants annual scholarships to young musicians with great study, but also the publication of the Obras Completas de until 4 April 2021. potential, to support their training and professionalisation. Eduardo Lourenço (Complete Works of Eduardo Lourenço). 14 ANNUAL REPORT 2020

PROJECT PARTNER VALUE (€) BENEFICIARIES 01

CULTURAL PATRONAGE

National Ballet Company Program National Ballet Company/OPART 100.000 3.192 02 EDP Foundation Piano Cycle Casa da Música Foundation 100.000 195.424 03 Exhibition Korakrit Arunanondchai & Alex Gvojic: Serralves Foundation 100.000 65.585 History in a room filled with people with funny names 5

Porto Municipal Gallery Porto Municipal Council 75.000 N.A. 04 ARCOlisboa 2020 05 ARCOlisboa 2020 IFEMA – Institución Ferial de Madrid 70.000 N.D.

Other Costs 4.037 N.A. activity Orquestra Sinfónica Juvenil (Youth Symphony Orchestra)

Activities Youth Symphony Orchestra Portuguese Musical Circle 37.000 5.010 EDP Foundation Foundation EDP

EDP Foundation Scholarships – Youth Symphony Orchestra Portuguese Musical Circle 17.500 12

Other Costs 529 N.A. 06

Museu Zer0 Lusíada Cultural Institute 50.000 2.000

Arpad Szenes – Vieira da Silva Foundation Programme Arpad Szenes – Vieira da Silva Foundation 42.000 9.578 07 Lisbon Architecture Triennale Lisbon Architecture Triennale Association 25.000 7.967 08 Inventory & cataloguing the Prof. Eduardo Lourenço Collection National Culture Centre 25.000 N.A. EDP Choir EDP Choir 9.000 6.425 09 Unesco Arts Education Club ASPREA – Association for Arts Education 8.000 300

Mário Soares & Maria Barroso Foundation – EDP Foundation Award Mário Soares & Maria Barroso Foundation 7.000 1

The Lisbon Consortium Programme Universidade Católica Portuguesa 5.000 1

ELECTRA MAGAZINE

Executive Production & Editing 377.850 N.A.

Other Costs 18.978 N.A.

15 ANNUAL REPORT 2020

05.4. 01 In 2020 the EDP Foundation invested €98.400 in its Throughout the year, the EDP Foundation loaned 15 works ART Art Collection, through the acquisition of five works. by six Portuguese artists, which were included in six 02 Following the exhibition at maat of Ama Como a Estrada exhibitions displayed at institutions in Portugal. Among Começa (Love As the Road Begins), this installation by the these are the exhibition Encontro às Cegas (Blind Date). COLLECTION artistic duo João Pedro Vale and Nuno Alexandre Ferreira, Pedro Gomes, at the National Museum of Contemporary 03 featured at the FUSO – Lisbon Video Art Festival, was Art – Museu do Chiado, with seven of this artist’s pieces incorporated into the video by Welket Bungué, winner of loaned; the exhibition Público/Privado – Doce Calma the EDP Foundation/MAAT Prémio Aquisição (Acquisition ou Violência Doméstica (Public/Private – Sweet Calm 04 Award); two works by Gabriel Abrantes were purchased that or Domestic Violence), which took place at the Sines were presented by the artist in the exhibition Melancolia Centre for the Arts and which included the loan of two 05 Programada (Programmed Melancholy), hosted at maat; works by Joana Vasconcelos; as well as the presentation and the drawing installation/work Border Line, by Manuel of A Exposição Invisível (The Invisible Exhibition) at

João Vieira, was also added to the collection. Culturgest, with the loan of a piece by Luísa Cunha. activity EDP Foundation Foundation EDP

WORKS OF ART ACQUIRED BY THE EDP FOUNDATION IN 2020 06

DISCIPLINE AUTHOR TITLE

PAINTING (1) Gabriel Abrantes The Bathers (2020) 07 DRAWING (1) Manuel João Vieira Border Line (2020) 08 INSTALLATION (1) João Pedro Vale and Nuno Alexandre Ferreira Ama Como a Estrada Começa (Love as the Road Begins) (2019) 09 VIDEO (2) Gabriel Abrantes Too Many Mommies, Daddies and Babies (2009)

Welket Bungué Metalheart (2020)

Note - there were no donations in 2020

16 ANNUAL REPORT 2020

ART COLLECTION LOANS - 2020 01

EXHIBITION TITLE TITLE AUTHOR YEAR TECHNIQUE

‘LENDO RESOLVE-SE: ÁLVARO LAPA E A LITERATURA’ O Caderno de Freud ÁLVARO LAPA 1976 Assemblage on platex 02 (READING RESOLVES: ÁLVARO LAPA & LITERATURE) (Freud’s Notebook) Culturgest, Lisboa 17.01.2020 – 26.07.2020 03 ‘O ROXO E AS CINZAS’ (PURPLE AND ASHES) Mas onde nós estamos MARIA JOSÉ OLIVEIRA 2004 Mixed technique on paper Amélia de Mello Foundation Gallery é a luz 04 (Universidade Católica Portuguesa, Lisbon) (But the light is where 13.02.2020 – 24.04.2020 we are) ‘ENCONTRO ÀS CEGAS. PEDRO GOMES’ Linha de Fogo (Line of Fire) PEDRO GOMES 2000 Fire on paper 05 (BLIND DATE. PEDRO GOMES) National Museum of Contemporary Art - Museu do Chiado, Lisbon Linha de Fogo (Line of Fire) PEDRO GOMES 2000 Fire on paper 14.02.2020 – 06.09.2020 Linha de Fogo (Line of Fire) PEDRO GOMES 2000 Fire on paper activity

Linha de Fogo (Line of Fire) PEDRO GOMES 2000 Fire on paper EDP Foundation Foundation EDP Linha de Fogo (Line of Fire) PEDRO GOMES 2000 Fire on paper Untitled PEDRO GOMES 1997 Cast aluminium (11 elements) 06 Estarei sempre contigo PEDRO GOMES 1995 Various pipes & metal clamps (I’ll always be with you) ‘NOÉ SENDAS: INVALID PASSWORDS’ Crystal Girl Nº44 NOÉ SENDAS 2011 Photomontage: Inkjet printing on Premium Luster photo 07 Centro de Artes Visuais (Visual Arts Centre) / paper Pátio da Inquisição - Coimbra Crystal Girl Nº63 NOÉ SENDAS 2010 Inkjet printing on Premium Luster photo paper 15.02.2020 – 19.04.2020 08 Crystal Girl Nº100 NOÉ SENDAS 2010 Inkjet printing on Premium Luster photo paper 09

‘PÚBLICO/PRIVADO – DOCE CALMA OU VIOLÊNCIA DOMÉSTICA?’ Menu do dia JOANA VASCONCELOS 2001 Fur coats, refrigerator doors, air fresheners, iron (PUBLIC/PRIVATE – SWEET CALM OR DOMESTIC VIOLENCE?) (Today’s Specials) Centro de Artes de Sines (Sines Centre for the Arts) 20.06.2020 > 18.10.2020 Flores do Meu Desejo JOANA VASCONCELOS 1996-2010 Purple feather dusters, metallized & thermo-lacquered (Flowers of My Desire) iron, metallized & thermo-lacquered wire mesh

‘A EXPOSIÇÃO INVISÍVEL’ (THE INVISIBLE EXHIBITION) Do what you have to do LUÍSA CUNHA 1994 Installation, 2 loudspeakers, wire, recorded voice Culturgest, Lisbon reproducing English text, 17’’ (loop) 26.09.2020 – 17.01.2021

17 ANNUAL REPORT 2020

05.5. 01 THE YEAR IN 02 IMAGES 03 04 05

Credit: Paulo Alexandre Coelho Credit: Rute Ferraz activity

The 4th anniversary of maat was celebrated with three In November 2020, another artistic work was concluded in days of free admission, between 3 and 5 October. Braga, as part of the project Arte Pública (Public Art): Torre

1. 2. Foundation EDP de Vigia (Watchtower) was produced by the artist José Pedro Santos and is located in Merelim S. Paio/Panoias. 06 07 08 09

Credit: Iwan Baan Credit: Paulo Alexandre Coelho

10 June marked the inauguration of Beeline, an installation In the first semester of the year, within the Programa EDP 3. by the studio SO-IL, which occupied the entire area of maat. 4. Solidária (EDP Solidarity Programme), the EDP Foundation donated personal protective equipment to the residents and staff of 300 senior homes. 18 ANNUAL REPORT 2020

05.5. 01 THE YEAR IN 02 IMAGES 03 04 05

Crédito: Bruno Lopes activity

In 2020, the EDP Foundation celebrated the 20th anniversary of its Grande Prémio Arte (Art Grand Prize) and Prémio Novos Artistas (New Artists Award) with Oásis ao Entardecer (An Oasis at Sunset), an exhibition featuring works by the 20 award-winning artists.

5. Foundation EDP 06 07 08 09

Crédito: By Crédito: By

After being closed for three months, maat and the Power maat mode was an experimental participatory public 6. Station reopened to the public on 10 June, with a signage 7. program that, throughout six months, presented more than system designed by Sam Baron, to reinforce safety 85 projects at maat: screenings, lectures, discussions, recommendations brought about by the pandemic. workshops, etc.

19 ANNUAL REPORT 2020

01 02 03 04 05 06

FROM A JUST TRANSITION & Economic TO SUSTAINABLE COMMUNITIES financial situation 07 08 09

Changing tomorrow now.

20 ANNUAL REPORT 2020

06. 01 ECONOMIC & FINANCIAL 02 SITUATION 03

In 2020, the EDP Foundation’s revenue presented a decrease of The remaining revenue comprised 5.0% of the total revenue REVENUE 2020 2019 ∆ % 04 7.5% compared with the previous year. (12.1% in 2019), and presented a decrease of 61.7% compared EDP Group Regular with the previous year, resulting from the closure of the Tejo 12.700.000 12.700.000 0,0% The EDP Group’s Regular Grant, which comprised 95.0% of the Power Station and MAAT buildings due, in the first place, to Grant 05 total revenue (87.9% in 2019), maintained the value of 12.7 million maintenance works carried out at MAAT and, afterwards, to Other Revenue 670.951 1.753.412 -61,7% euros. This amount includes 6.2 million euros approved at the the public health crisis caused by the COVID-19 pandemic. This TOTAL 13.370.951 14.453.412 -7,5% 06 EDP Group Shareholders General Meeting and contributions situation led to decreases in the income from ticket and giftshop from EDP Produção and EDP Distribuição, of 3.5 million euros sales, as well as from renting spaces. and 3.0 million euros, respectively. Economic & Economic

5,0% financial situation 12,1% 07 08 2020 2019 09

Reuniões de plenário (#) 95,0% 87,9%

EDP Group Regular Grant Other Revenue

31%

24% 19%

Total

2018 2040 Cenários políticas anunciadas ANNUAL REPORT 2020

01 The EDP Foundation’s operating expenses were 12.0 million Despite the temporary closure of the Tejo Power Station and EXPENSES 2020 2019 ∆ % euros, a 5.9% decrease compared with 2019. MAAT, overall, the EDP Foundation maintained its principal 02 activities in every field, therefore the expenses of these activities STRUCTURE 4.115.970 4.227.880 -2,6% Personnel costs amounted to 2.7 million euros, 8.2% less than presented a decrease of only 7.5% compared with 2019. the previous year, resulting from a reduction in headcount to Personnel Costs 2.669.994 2.909.043 -8,2% 03 37 employees at the end of 2020 (39 at the end of 2019). In 2020, a positive net profit of 753 thousand euros was Overheads 1.445.976 1.318.837 9,6% achieved, even though the regular operation was maintained Overheads represented 12.0% of the total operating expenses and there was a significant reduction in revenue resulting from ACTIVITIES 7.907.380 8.552.597 -7,5% 04 and registered a 9.6% increase compared with the previous year. the EDP Foundation’s internal activities. Social Investment 586.716 1.206.420 -51,4%

Culture 1.048.350 1.000.532 4,8% 05

Museum/ 2.581.488 2.314.558 11,5% Programming 06

1,5% 1,4% Campus 2.543.754 2.671.708 -4,8% 13,0% 7,4% 14,5% 14,1% Communication 1.027.283 1.241.378 -17,2% & Marketing Economic & Economic 13,3% Institutional 119.789 118.001 1,5% Relations financial situation 11,7% TOTAL 12.023.350 12.780.477 -5,9% 2020 2019 07 32,2% 31,2% 08

32,6% 27,1% Reuniões de plenário (#) 09

Social Investment Culture Museum/Programming

Campus Communication & Marketing Institutional Relations

31%

24% 19% 22

Total

2018 2040 Cenários políticas anunciadas ANNUAL REPORT 2020

07. 01 PROFIT 02 APPROPRIATION 03

The EDP Foundation’s Executive Board proposes that the Net 04 Profit of 753.010€ be transferred to Retained Earnings.

From this item, the amount of 98.400€ should be placed in Free 05 Reserves, which represents the value of works of art acquired in 2020. 06 07 Profit appropriation 08 09

Changing tomorrow now. 23 ANNUAL REPORT 2020

01 02 03 04 05 06 07 FROM DIVERSIFICATION TO VALUE CREATION 08 report Financial Financial

Changing tomorrow now.

24 BALANCE SHEET AT 31 DECEMBER 2020 AND 2019 9RMX)YVSW DATES ITEMS NOTES ANNUAL REPORT 2020 31.Dec.2020 31.Dec.2019 ASSETS Non-current Assets 4VSTIVX]TPERXERHIUYMTQIRX ,MWXSVMGERHGYPXYVEPLIVMXEKIEWWIXW Total Non-Current Assets 61.801.391 61.472.145

Current Assets 01 'YWXSQIVW 3XLIVEGGSYRXWVIGIMZEFPI BALANCE%PPSGEXIHERHYRVIEPMWIHIRHS[QIRXJYRHW SHEET AT 31 DECEMBER 2020 AND 2019 (IJIVVEPW EGGVYEPW 9RMX)YVSW 02 'EWLERHFEROHITSWMXW DATES ITEMS NOTES Total Current Assets 31.Dec.202015.508.523 31.Dec.201917.662.035 ASSETS Total Assets 77.309.914 79.134.180 Non-current Assets 4VSTIVX]TPERXERHIUYMTQIRX 03 ,MWXSVMGERHGYPXYVEPLIVMXEKIEWWIXW ENDOWMENT FUNDS AND LIABILITIES Total Non-Current Assets 61.801.391 61.472.145 Endowment Funds Current Assets 04 *YRHW 6IWIVZIW(SREXMSRW'YWXSQIVW 3XLIVVIWIVZIW3XLIVEGGSYRXWVIGIMZEFPI 6IXEMRIHIEVRMRKW%PPSGEXIHERHYRVIEPMWIHIRHS[QIRXJYRHW 3XLIVZEVMEXMSRWMRIRHS[QIRXJYRHWMRZIWXQIRXWYFWMHMIW(IJIVVEPW EGGVYEPW 05 'EWLERHFEROHITSWMXW 2IXVIWYPXJSVXLI]IEV Total Current Assets 15.508.523 17.662.035 Total Endowment Funds 67.879.770 68.179.297 Total Assets 77.309.914 79.134.180 LIABILITIES 06 Non-current Liabilities ENDOWMENT FUNDS AND LIABILITIES 4VSZMWMSRW Endowment0MEFMPMXMIWJSVTSWXIQTPS]QIRXFIRIJMXW Funds 3XLIVEGGSYRXWTE]EFPI*YRHW 07 6IWIVZIW(SREXMSRW Total Non-current Liabilities 2.130.342 2.146.645 3XLIVVIWIVZIW 6IXEMRIHIEVRMRKW Current Liabilities 3XLIVZEVMEXMSRWMRIRHS[QIRXJYRHWMRZIWXQIRXWYFWMHMIW 0MEFMPMXMIWJSVTSWXIQTPS]QIRXFIRIJMXW 08 2IXVIWYPXJSVXLI]IEV 7YTTPMIVW 4SVXYKYIWI7XEXIERHSXLIVTYFPMGIRXMXMIW Total Endowment Funds 67.879.770 68.179.297 (IJIVVEPW EGGVYEPW 3XLIVEGGSYRXWTE]EFPI LIABILITIES report

Total Current Liabilities 7.299.802 8.808.238 Financial Non-current Liabilities Total Liabilities 9.430.144 10.954.883 4VSZMWMSRW 0MEFMPMXMIWJSVTSWXIQTPS]QIRXFIRIJMXW Total Endowment Funds and Liabilities 77.309.914 79.134.180 3XLIVEGGSYRXWTE]EFPI Total Non-current Liabilities 2.130.342 2.146.645 0MWFSR%TVMP 09 ')68-*-)(%''3928%282{ 8LI)\IGYXMZI&SEVH Current Liabilities 0MEFMPMXMIWJSVTSWXIQTPS]QIRXFIRIJMXW 7YTTPMIVW 4SVXYKYIWI7XEXIERHSXLIVTYFPMGIRXMXMIW (IJIVVEPW EGGVYEPW 3XLIVEGGSYRXWTE]EFPI Total Current Liabilities 7.299.802 8.808.238 Total Liabilities 9.430.144 10.954.883 Total Endowment Funds and Liabilities 77.309.914 79.134.180

0MWFSR%TVMP ')68-*-)(%''3928%282{ 8LI)\IGYXMZI&SEVH

Changing tomorrow now. To be read with the notes to the financial statements 43 25

To be read with the notes to the financial statements 43 BALANCE SHEET AT 31 DECEMBER 2020 AND 2019 BALANCE SHEET AT 31 DECEMBER 2020 AND 2019 9RMX)YVSW 9RMX)YVSW DATES DATES ITEMS NOTES ITEMS NOTES ANNUAL REPORT 2020 31.Dec.2020 31.Dec.2019 31.Dec.2020 31.Dec.2019 ASSETS ASSETS Non-current Assets Non-current Assets 4VSTIVX]TPERXERHIUYMTQIRX 4VSTIVX]TPERXERHIUYMTQIRX ,MWXSVMGERHGYPXYVEPLIVMXEKIEWWIXW ,MWXSVMGERHGYPXYVEPLIVMXEKIEWWIXW Total Non-Current Assets 61.801.391 61.472.145 Total Non-Current Assets 61.801.391 61.472.145

Current Assets Current Assets 01 'YWXSQIVW 'YWXSQIVW INCOME STATEMENT3XLIVEGGSYRXWVIGIMZEFPI 3XLIVEGGSYRXWVIGIMZEFPI Financial year ended 31 December 2020 and 2019 %PPSGEXIHERHYRVIEPMWIHIRHS[QIRXJYRHW STATEMENT OF CHANGES%PPSGEXIHERHYRVIEPMWIHIRHS[QIRXJYRHW IN THE ENDOWMENT FUNDS FOR THE YEAR 2019 9RMX)YVSW (IJIVVEPW EGGVYEPW 9RMX)YVSW (IJIVVEPW EGGVYEPW )RHS[QIRXJYRHWEPPSGEXIHXSXLIKVERXSVW 02 'EWLERHFEROHITSWMXW YEARS 'EWLERHFEROHITSWMXW 8SXEPSJXLI CASH FLOW STATEMENT Notes 3XLIVGLERKIW DESCRIPTION 6IWIVZIW 3XLIV 6IXEMRIH 2IXTVSJMXJSV )RHS[QIRX Total Current Assets 15.508.5232020 17.662.0352019 Total Current Assets *YRHW 15.508.523MRIRHS[QIRX 17.662.035 (SREXMSRW VIWIVZIW )EVRMRKW XLI]IEV *YRHW JYRHW 7EPIWERHWIVZMGIWVIRHIVIH Total Assets 77.309.914 79.134.180 Total Assets 77.309.914 79.134.180 POSITION AT THE BEGINNING OF THE YEAR 2019 1 7YFWMHMIWKMJXWERHSTIVEXMSREPFIUYIWXW 03 7YFWMHMIWHSREXMSRWERHKVERXW )\XIVREPWYTTPMIWERHWIVZMGIW ENDOWMENT FUNDS AND LIABILITIES CHANGES IN THE YEAR ENDOWMENT FUNDS AND LIABILITIES 3XLIVGLERKIWVIGSKRMWIHMRXLIIRHS[QIRXJYRHW 4IVWSRRIPGSWXWERHPMEFMPMXMIWJVSQTSWXIQTPS]QIRXFIRIJMXW 2 -QTEMVQIRXMREGGSYRXWVIGIMZEFPI PSWWIWVIZIVWEPW Endowment Funds Endowment Funds INCOMENET PROFIT FOR STATEMENT THE YEAR 3 04 4VSZMWMSRW MRGVIEWIWVIHYGXMSRW *YRHW *YRHW 6IWIVZIW(SREXMSRW Financial year6IWIVZIW(SREXMSRW ended 31 December 2020 and 2019 3XLIVMRGSQI COMPREHENSIVE PROFIT 4=2+3 3XLIVI\TIRWIW3XLIVVIWIVZIW 3XLIVVIWIVZIW 9RMX)YVSW 6IXEMRIHIEVRMRKW Profit before depreciation, financial expenses and taxes 1.428.281 1.837.035 OPERATIONS WITH6IXEMRIHIEVRMRKW GRANTORS DURING THE YEAR YEARS -RZIWXQIRXWYFWMHMIW CASH FLOW STATEMENT Notes 3XLIVZEVMEXMSRWMRIRHS[QIRXJYRHWMRZIWXQIRXWYFWMHMIW 3XLIVZEVMEXMSRWMRIRHS[QIRXJYRHWMRZIWXQIRXWYFWMHMIW 2020 2019 5 05 (ITVIGMEXMSRERHEQSVXMWEXMSRI\TIRWIWVIZIVWEPW2IXVIWYPXJSVXLI]IEV 2IXVIWYPXJSVXLI]IEV POSITION AT THE END OF THE YEAR 2019 6=1+2+3+5 Operating Total Endowment profit (before Funds financial expenses and taxes) 67.879.770753.062 68.179.2971.191.418 7EPIWERHWIVZMGIWVIRHIVIH Total Endowment Funds 67.879.770 68.179.297 7YFWMHMIWKMJXWERHSTIVEXMSREPFIUYIWXW -RXIVIWXERHWMQMPEVMRGSQISFXEMRIH 7YFWMHMIWHSREXMSRWERHKVERXW LIABILITIES STATEMENT OF CHANGES IN THE ENDOWMENT FUNDS FOR THELIABILITIES YEAR 2020 9RMX)YVSW -RXIVIWXERHWMQMPEVI\TIRWIWMRGYVVIH )\XIVREPWYTTPMIWERHWIVZMGIW 06 Result before taxes 753.010 1.191.155 4IVWSRRIPGSWXWERHPMEFMPMXMIWJVSQTSWXIQTPS]QIRXFIRIJMXW )RHS[QIRXJYRHWEPPSGEXIHXSXLIKVERXSVW Non-current Liabilities Non-current Liabilities 8SXEPSJXLI -QTEMVQIRXMREGGSYRXWVIGIMZEFPI PSWWIWVIZIVWEPW 3XLIVGLERKIW DESCRIPTION 6IWIVZIW 3XLIV 6IXEMRIH 2IXTVSJMXJSV )RHS[QIRX 4VSZMWMSRW 4VSZMWMSRW *YRHW MRIRHS[QIRX -RGSQIXE\JSVXLI]IEV 4VSZMWMSRW MRGVIEWIWVIHYGXMSRW (SREXMSRW VIWIVZIW )EVRMRKW XLI]IEV *YRHW 0MEFMPMXMIWJSVTSWXIQTPS]QIRXFIRIJMXW 0MEFMPMXMIWJSVTSWXIQTPS]QIRXFIRIJMXW JYRHW 3XLIVMRGSQI 3XLIVEGGSYRXWTE]EFPI Net result for the year 753.010 1.191.155 3XLIVEGGSYRXWTE]EFPI 07 3XLIVI\TIRWIWPOSITION AT THE BEGINNING OF THE YEAR 2020 6 Total Non-current Liabilities 2.130.342 2.146.645 Profit before Total Non-currentdepreciation, Liabilities financial expenses and taxes 1.428.2812.130.342 1.837.0352.146.645

0MWFSR%TVMP CHANGES IN THE YEAR ')68-*-)(%''3928%282{Current Liabilities 8LI)\IGYXMZI&SEVH (ITVIGMEXMSRERHEQSVXMWEXMSRI\TIRWIWVIZIVWEPW3XLIVGLERKIWVIGSKRMWIHMRXLIIRHS[QIRXJYRHWCurrent Liabilities 7 0MEFMPMXMIWJSVTSWXIQTPS]QIRXFIRIJMXW 0MEFMPMXMIWJSVTSWXIQTPS]QIRXFIRIJMXWOperating profit (before financial expenses and taxes) 753.062 1.191.418 08 7YTTPMIVW NET PROFIT FOR THE7YTTPMIVW YEAR 8 4SVXYKYIWI7XEXIERHSXLIVTYFPMGIRXMXMIW -RXIVIWXERHWMQMPEVMRGSQISFXEMRIH4SVXYKYIWI7XEXIERHSXLIVTYFPMGIRXMXMIW COMPREHENSIVE PROFIT 9=7+8 (IJIVVEPW EGGVYEPW -RXIVIWXERHWMQMPEVI\TIRWIWMRGYVVIH(IJIVVEPW EGGVYEPW 3XLIVEGGSYRXWTE]EFPI OPERATIONS WITH3XLIVEGGSYRXWTE]EFPI GRANTORS DURING THE YEAR Result before taxes 753.010 1.191.155 report -RZIWXQIRXWYFWMHMIW

Total Current Liabilities 7.299.802 8.808.238 Total Current Liabilities 10 7.299.802 8.808.238 Financial -RGSQIXE\JSVXLI]IEV Total Liabilities 9.430.144 10.954.883 Total Liabilities 9.430.144 10.954.883 POSITION AT THE END OF THE YEAR 2020 11=6+7+8+10Net result for the year 753.010 1.191.155 Total Endowment Funds and Liabilities 77.309.914 79.134.180 Total Endowment Funds and Liabilities 77.309.914 79.134.180

0MWFSR%TVMP 0MWFSR%TVMP')68-*-)(%''3928%282{ 8LI)\IGYXMZI&SEVH 0MWFSR%TVMP ')68-*-)(%''3928%282{0MWFSR%TVMP 8LI)\IGYXMZI&SEVH 09 ')68-*-)(%''3928%282{ 8LI)\IGYXMZI&SEVH ')68-*-)(%''3928%282{ 8LI)\IGYXMZI&SEVH

To be read with the notes to the financial statements 43 To be read with the notes to the financial statements 43

To be read with the notes to the financial statements 45 To be read with the notes to the financial statements 44

To be read with the notes to the financial statements 44 BALANCE SHEET AT 31 DECEMBER 2020 AND 2019 9RMX)YVSW DATES ITEMS NOTES ANNUAL REPORT 2020 31.Dec.2020 31.Dec.2019 ASSETS Non-current Assets EDP Foundation 4VSTIVX]TPERXERHIUYMTQIRX EDP Foundation Notes to the Financial Statements for the financial year ended 31 December 2020 and 2019 ,MWXSVMGERHGYPXYVEPLIVMXEKIEWWIXW Notes to the Financial Statements for the financial year ended 31 December 2020 and 2019 Total Non-Current Assets 61.801.391 61.472.145 1. Identification of the entity 1. Identification of the entity Current Assets 01 *YRHEʡʝS )(4 0IKEP )RXMX] 2S MW E RSRTVSJMX MRWXMXYXMSR [MXL VIKMWXIVIH SJJMGI MR 0MWFSR JSYRHIH F] )(4 )RIVKMEW HI 4SVXYKEP 7% SR (IGIQFIV ERH [LMGL *YRHEʡʝS )(4 0IKEP )RXMX] 2S MW E RSRTVSJMX MRWXMXYXMSR [MXL VIKMWXIVIH SJJMGI MR 0MWFSR JSYRHIH F] )(4 )RIVKMEW HI 4SVXYKEP 7% SR (IGIQFIV ERH [LMGL JSVQEPP]FIKERSTIVEXMRKMR1E]-X[EWVIGSKRMWIHEWE*SYRHEXMSRF]EHQMRMWXVEXMZISVHIV2SSJ3GXSFIVF]XLI1MRMWXV]SJXLI-RXIVMSV 'YWXSQIVW JSVQEPP]FIKERSTIVEXMRKMR1E]-X[EWVIGSKRMWIHEWE*SYRHEXMSRF]EHQMRMWXVEXMZISVHIV2SSJ3GXSFIVF]XLI1MRMWXV]SJXLI-RXIVMSV 3XLIVEGGSYRXWVIGIMZEFPI CASH FLOW STATEMENT &] 4VMQI1MRMWXIVMEP SVHIV SJ (IGIQFIV TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ (IGIQFIV XLI *SYRHEXMSR [EW %PPSGEXIHERHYRVIEPMWIHIRHS[QIRXJYRHW &] 4VMQI1MRMWXIVMEP SVHIV SJ (IGIQFIV TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ (IGIQFIV XLI *SYRHEXMSR [EW Financial year ended 31 DECEMBER 2020 and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ʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ MXW TYFPMG MRXIVIWX WXEXYW [LMGL [EW GSRJMVQIH F] EHQMRMWXVEXMZI SVHIV SJ *IFVYEV] TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S Total Current Assets 15.508.523 17.662.035 SJ *IFVYEV] 8LI TYFPMG MRXIVIWX WXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRK IJJIGX ITEMS Notes 2020 2019 SJ *IFVYEV] 8LI TYFPMG MRXIVIWX WXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRK IJJIGX WMRGI*IFVYEV] Total Assets 77.309.914 79.134.180 WMRGI*IFVYEV] 8LI )(4 *SYRHEXMSR W KIRIVEP TYVTSWI MW XS TVSQSXI HIZIPST ERH WYTTSVX MRMXMEXMZIW SJ E WSGMEP GYPXYVEP WGMIRXMJMG XIGLRSPSKMGEP IHYGEXMSREP IRZMVSRQIRXEP ERH WTSVXW REXYVI EW Cash flows from operating activities 8LI )(4 *SYRHEXMSR W KIRIVEP TYVTSWI MW XS TVSQSXI HIZIPST ERH WYTTSVX MRMXMEXMZIW SJ E WSGMEP GYPXYVEP WGMIRXMJMG XIGLRSPSKMGEP IHYGEXMSREP IRZMVSRQIRXEP ERH WTSVXW REXYVI EW 03 [IPP EW XS HIJIRH EDP’s LIVMXEKI 8LI )(4 Foundation’s WTIGMEP TYVTSWI MW XS TVSQSXI XLI WXYH] TVIWIVZEXMSR ERH HMWWIQMREXMSR SJ XLI GYPXYVEP WGMIRXMJMG ERH XIGLRSPSKMGEP [IPP EW XS HIJIRH EDP’s LIVMXEKI 8LI )(4 Foundation’s WTIGMEP TYVTSWI MW XS TVSQSXI XLI WXYH] TVIWIVZEXMSR ERH HMWWIQMREXMSR SJ XLI GYPXYVEP WGMIRXMJMG ERH XIGLRSPSKMGEP 6IGIMTXSJSTIVEXMRKWYFWMHMIW LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK] LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK] 4EXVSREKITE]QIRXW ENDOWMENT FUNDS AND LIABILITIES 8LI )(4 *SYRHEXMSR [EW GVIEXIH F] MXW *SYRHIV )(4 )RIVKMEW HI 4SVXYKEP 7% [MXL VIKMWXIVIH SJJMGI EX %ZIRMHE HI .YPLS 2S MR 0MWFSR [MXL ER MRMXMEP 'ETMXEP *YRH SJ 6IGIMTXJVSQGPMIRXWERHYWIVW 8LI )(4 *SYRHEXMSR [EW GVIEXIH F] MXW *SYRHIV )(4 )RIVKMEW HI 4SVXYKEP 7% [MXL VIKMWXIVIH SJJMGI EX %ZIRMHE HI .YPLS 2S MR 0MWFSR [MXL ER MRMXMEP 'ETMXEP *YRH SJ IYVSW GSRWXMXYXIH XLVSYKL E GEWL HSREXMSR SJ IYVSW ERH E JMRERGMEP EPPSGEXMSR SJ IYVSW 3R XLI &EPERGI 7LIIX HEXI XLI EQSYRX SJ XLI Endowment Funds IYVSW GSRWXMXYXIH XLVSYKL E GEWL HSREXMSR SJ IYVSW ERH E JMRERGMEP EPPSGEXMSR SJ IYVSW 3R XLI &EPERGI 7LIIX HEXI XLI EQSYRX SJ XLI 4E]QIRXWXSWYTTPMIVW EPPSGEXMSRWLEHFIIRTEMHMRJYPP EPPSGEXMSRWLEHFIIRTEMHMRJYPP 04 4E]QIRXWXSWXEJJ*YRHW 6IWIVZIW(SREXMSRW 2. Accounting reference for preparation of financial statements 3XLIVVIWIVZIW 2. Accounting reference for preparation of financial statements 3XLIVVIGIMTXW TE]QIRXW VIPEXMRKXSSTIVEXMSREPEGXMZMX] 2.1 Bases of presentation 6IXEMRIHIEVRMRKW 2.1 Bases of presentation 3XLIVZEVMEXMSRWMRIRHS[QIRXJYRHWMRZIWXQIRXWYFWMHMIWCash flow from operating activities (1) 8LI )(4 Foundation’s JMRERGMEP WXEXIQIRXW [IVI TVITEVIH MR EGGSVHERGI [MXL XLI 9RMJMIH %GGSYRXMRK 7]WXIQ JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 72')720 – 2SVQEPMÊʡʝS 05 8LI )(4 Foundation’s JMRERGMEP WXEXIQIRXW [IVI TVITEVIH MR EGGSVHERGI [MXL XLI 9RMJMIH %GGSYRXMRK 7]WXIQ JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 72')720 – 2SVQEPMÊʡʝS 2IXVIWYPXJSVXLI]IEV 'SRXEFMPʧWXMGE TEVE EW )RXMHEHIW HS 7IXSV RʝS 0YGVEXMZS TYVWYERX XS XLI XIVQW MR (IGVII 0E[ % SJ 1EVGL [LMGL MW ER MRXIKVEP TEVX SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 'SRXEFMPʧWXMGE TEVE EW )RXMHEHIW HS 7IXSV RʝS 0YGVEXMZS TYVWYERX XS XLI XIVQW MR (IGVII 0E[ % SJ 1EVGL [LMGL MW ER MRXIKVEP TEVX SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' – 7MWXIQE HI 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGE ETTVSZIH F] (IGVII 0E[ SJ .YP] FSXL EW EQIRHIH F] (IGVII 0E[ SJ .YRI 8LI 72')720 MW VIKYPEXIH F] Cash flows from investment activities 72' – 7MWXIQE HI 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGE ETTVSZIH F] (IGVII 0E[ SJ .YP] FSXL EW EQIRHIH F] (IGVII 0E[ SJ .YRI 8LI 72')720 MW VIKYPEXIH F] Total Endowment Funds 67.879.770 68.179.297 XLIJSPPS[MRKEGXW 6IGIMTXWJVSQ XLIJSPPS[MRKEGXW

-RZIWXQIRXWYFWMHMIW 2SXMGI SJ .YP] – %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 2'6*)720 – 2SVQE 'SRXEFMPʧWXMGE I HI VIPEXS *MRERGIMVS TEVE LIABILITIES 2SXMGI SJ .YP] – %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 2'6*)720 – 2SVQE 'SRXEFMPʧWXMGE I HI VIPEXS *MRERGIMVS TEVE -RXIVIWXERHWMQMPEVMRGSQI EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS 06 EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS - Ordinance 218/2015, of 23 July – Specific Account Codes for Entities in the Non-Profit Sector (CC-ESNL – Código de Contas específico para as Entidades do Setor Não Lucrativo); - Ordinance 218/2015, of 23 July – Specific Account Codes for Entities in the Non-Profit Sector (CC-ESNL – Código de Contas específico para as Entidades do Setor Não Lucrativo); Non-current Liabilities - Ordinance 220/2015, of 24 July – Financial Statement Models applicable to Entities in the Non-profit Sector. 4E]QIRXWVIPEXMRKXS - Ordinance 220/2015, of 24 July – Financial Statement Models applicable to Entities in the Non-profit Sector. 4VSZMWMSRW 4VSTIVX]TPERX IUYMTQIRX 0MEFMPMXMIWJSVTSWXIQTPS]QIRXFIRIJMXW 2SX[MXLWXERHMRK XLI ETTPMGEXMSR SJ XLI 2'6*)720 MR EPP EWTIGXW GSRGIVRMRK VIGSKRMXMSR QIEWYVIQIRX ERH HMWGPSWYVI [LIRIZIV XLMW WXERHEVH HSIW RSX VIWTSRH XS TEVXMGYPEV 2SX[MXLWXERHMRK XLI ETTPMGEXMSR SJ XLI 2'6*)720 MR EPP EWTIGXW GSRGIVRMRK VIGSKRMXMSR QIEWYVIQIRX ERH HMWGPSWYVI [LIRIZIV XLMW WXERHEVH HSIW RSX VIWTSRH XS TEVXMGYPEV 3XLIVEGGSYRXWTE]EFPI EWTIGXW HMVIGXIH EX XLI )RXMX] VIKEVHMRK EGGSYRXMRK SV JMRERGMEP VITSVXMRK QEXXIVW SV WMXYEXMSRW SV WLSVXGSQMRKW XLEX EVI VIPIZERX XS XLI TVSZMWMSR SJ XVYI ERH ETTVSTVMEXI 07 EWTIGXW HMVIGXIH EX XLI )RXMX] VIKEVHMRK EGGSYRXMRK SV JMRERGMEP VITSVXMRK QEXXIVW SV WMXYEXMSRW SV WLSVXGSQMRKW XLEX EVI VIPIZERX XS XLI TVSZMWMSR SJ XVYI ERH ETTVSTVMEXI MRJSVQEXMSR XLI )RXMX] WLEPP YWI TVSZMHIH SRP] XS SZIVGSQI XLI WLSVXGSQMRK EHHMXMSREPP] ERH MR XLI JSPPS[MRK SVHIV M XLI %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW 2'6* Cash flow from investment activities (2) MRJSVQEXMSR XLI )RXMX] WLEPP YWI TVSZMHIH SRP] XS SZIVGSQI XLI WLSVXGSQMRK EHHMXMSREPP] ERH MR XLI JSPPS[MRK SVHIV M XLI %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW 2'6* Total Non-current Liabilities 2.130.342 2.146.645 -RXIVTVIXMZI +YMHIPMRIW (NI–Normas -RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW (NIC–Normas -RXIVTVIXMZI +YMHIPMRIW (NI–Normas -RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW (NIC–Normas -RXIVREGMSREMW HI 'SRXEFMPMHEHI EHSTXIH YRHIV 6IKYPEXMSR SJ XLI )YVSTIER 4EVPMEQIRX ERH SJ XLI 'SYRGMP SJ .YP] ERH MMM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW -RXIVREGMSREMW HI 'SRXEFMPMHEHI EHSTXIH YRHIV 6IKYPEXMSR SJ XLI )YVSTIER 4EVPMEQIRX ERH SJ XLI 'SYRGMP SJ .YP] ERH MMM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW -%7 ERH-RXIVREXMSREP*MRERGMEP6ITSVXMRK7XERHEVHW -*67 MWWYIHF]XLI-%7& Current Liabilities -%7 ERH-RXIVREXMSREP*MRERGMEP6ITSVXMRK7XERHEVHW -*67 MWWYIHF]XLI-%7& Cash flows from financing activities 0MEFMPMXMIWJSVTSWXIQTPS]QIRXFIRIJMXW 8LIJMRERGMEPWXEXIQIRXWXLEXMRGPYHIXLIFEPERGIWXEXIQIRXXLIWXEXIQIRXSJTVSJMXWERHPSWWIWF]EGXMZMX]XLIWXEXIQIRXSJGLERKIWMRIRHS[QIRXJYRHWXLIGEWLJPS[WXEXIQIRX 08 8LIJMRERGMEPWXEXIQIRXWXLEXMRGPYHIXLIFEPERGIWXEXIQIRXXLIWXEXIQIRXSJTVSJMXWERHPSWWIWF]EGXMZMX]XLIWXEXIQIRXSJGLERKIWMRIRHS[QIRXJYRHWXLIGEWLJPS[WXEXIQIRX 4E]QIRXWVIPEXMRKXS ERH XLI ETTIRHM\ [IVI ETTVSZIH F] XLI Institution’s )\IGYXMZI &SEVH SR %TVMP EVI VIGSVHIH MR IYVSW ERH [IVI TVITEVIH SR E KSMRK GSRGIVR FEWMW ERH SR XLI EGGVYEP FEWMW 7YTTPMIVW ERH XLI ETTIRHM\ [IVI ETTVSZIH F] XLI Institution’s )\IGYXMZI &SEVH SR %TVMP EVI VIGSVHIH MR IYVSW ERH [IVI TVITEVIH SR E KSMRK GSRGIVR FEWMW ERH SR XLI EGGVYEP FEWMW MR [LMGL XLI MXIQW EVI VIGSKRMWIH EW EWWIXW PMEFMPMXMIW IRHS[QIRX JYRHW MRGSQI ERH GSWXW [LIR XLIWI WEXMWJ] XLI HIJMRMXMSRW ERH VIGSKRMXMSR GVMXIVME JSV XLSWI IPIQIRXW GSRXEMRIH -RXIVIWXERHWMQMPEVI\TIRWIW MR [LMGL XLI MXIQW EVI VIGSKRMWIH EW EWWIXW PMEFMPMXMIW IRHS[QIRX JYRHW MRGSQI ERH GSWXW [LIR XLIWI WEXMWJ] XLI HIJMRMXMSRW ERH VIGSKRMXMSR GVMXIVME JSV XLSWI IPIQIRXW GSRXEMRIH 4SVXYKYIWI7XEXIERHSXLIVTYFPMGIRXMXMIW MRXLIGSRGITXYEPJVEQI[SVOMRGSQTPMERGI[MXLXLIUYEPMXEXMZIGLEVEGXIVMWXMGWSJGSRWMWXIRG]SJTVIWIRXEXMSRQEXIVMEPMX]ERHEKKVIKEXMSRGSQTIRWEXMSRERHGSQTEVEFMPMX] MRXLIGSRGITXYEPJVEQI[SVOMRGSQTPMERGI[MXLXLIUYEPMXEXMZIGLEVEGXIVMWXMGWSJGSRWMWXIRG]SJTVIWIRXEXMSRQEXIVMEPMX]ERHEKKVIKEXMSRGSQTIRWEXMSRERHGSQTEVEFMPMX] (IJIVVEPW EGGVYEPW Cash flow from financing activities (3) 3XLIVEGGSYRXWTE]EFPI report 8LI EGGSYRXMRK TSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIH MR 8LI EGGSYRXMRK TSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIH MR

Total Current Liabilities 7.299.802 8.808.238 XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIV Financial XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIV Change in cash and cash equivalents (1+2+3) Total Liabilities 9.430.144 10.954.883 2.2 No derrogations were made from the provisions in the SNC-ESNL. 'EWLERHGEWLIUYMZEPIRXWEXXLIFIKMRRMRKSJXLITIVMSH 2.2 No derrogations were made from the provisions in the SNC-ESNL. Total Endowment Funds and Liabilities 77.309.914 79.134.180 8LI TIVMSH FIKMRRMRK SR .ERYEV] [EW XLI TIVMSH MR [LMGL XLI -RWXMXYXMSR ETTPMIH XLI EQIRHQIRXW MRXVSHYGIH F] (IGVII0E[ SJ .YRI 8LI -RWXMXYXMSR ETTPMIH XLI Cash and cash equivalents at the end of the period (*) 8LI TIVMSH FIKMRRMRK SR .ERYEV] [EW XLI TIVMSH MR [LMGL XLI -RWXMXYXMSR ETTPMIH XLI EQIRHQIRXW MRXVSHYGIH F] (IGVII0E[ SJ .YRI 8LI -RWXMXYXMSR ETTPMIH XLI RI[EGGSYRXMRKTSPMGMIWEQIRHIHF]2SXMGI[MXLSYXWMKRMJMGERXMQTEGXSRXLIJMRERGMEPWXEXIQIRXWTVIWIRXIHLIVIMR RI[EGGSYRXMRKTSPMGMIWEQIRHIHF]2SXMGI[MXLSYXWMKRMJMGERXMQTEGXSRXLIJMRERGMEPWXEXIQIRXWTVIWIRXIHLIVIMR

There are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. 0MWFSR%TVMP 2.3 There are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. 09 7IIHIXEMPSJHIGSQTSWMXMSRSJXLIMXIQ'EWL GEWLIUYMZEPIRXWMR2SXISJXLI*MRERGMEP7XEXIQIRXW 2.3 ')68-*-)(%''3928%282{ 8LI)\IGYXMZI&SEVH 3. Key accounting policies 3. Key accounting policies

8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[W 0MWFSR%TVMP 8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[W 3.1 Measurement bases used in preparing the financial statements ')68-*-)(%''3928%282{ 8LI)\IGYXMZI&SEVH 3.1 Measurement bases used in preparing the financial statements

8LI JMRERGMEP WXEXIQIRXW [IVI TVITEVIH YRHIV XLI LMWXSVMG GSWX TVMRGMTPI FEWIH SR XLI Institution’s EGGSYRXMRK VIGSVHW 0MEFMPMXMIW JVSQ HIJMRIH FIRIJMX FSRHW EVI VIGSKRMWIH EX XLI 8LI JMRERGMEP WXEXIQIRXW [IVI TVITEVIH YRHIV XLI LMWXSVMG GSWX TVMRGMTPI FEWIH SR XLI Institution’s EGGSYRXMRK VIGSVHW 0MEFMPMXMIW JVSQ HIJMRIH FIRIJMX FSRHW EVI VIGSKRMWIH EX XLI present value of the bond net of the fund’s assets. present value of the bond net of the fund’s assets.

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

3.2 Relevant accounting policies 3.2 Relevant accounting policies

a) Property, plant & equipment a) Property, plant & equipment

4VSTIVX] TPERX ERH IUYMTQIRX MW VIKMWXIVIH EX EGUYMWMXMSR GSWX [LMGL MRGPYHIW XLI TYVGLEWI TVMGI HYXMIW RSRVIJYRHEFPI TYVGLEWI XE\IW ERH ER] GSWXW HMVIGXP] EXXVMFYXEFPI XS FVMRK 4VSTIVX] TPERX ERH IUYMTQIRX MW VIKMWXIVIH EX EGUYMWMXMSR GSWX [LMGL MRGPYHIW XLI TYVGLEWI TVMGI HYXMIW RSRVIJYRHEFPI TYVGLEWI XE\IW ERH ER] GSWXW HMVIGXP] EXXVMFYXEFPI XS FVMRK XLIEWWIXXSXLIPSGEXMSRERHGSRHMXMSRRIGIWWEV]JSVMXXSFIGETEFPISJSTIVEXMRKMRXLIMRXIRHIHQERRIV XLIEWWIXXSXLIPSGEXMSRERHGSRHMXMSRRIGIWWEV]JSVMXXSFIGETEFPISJSTIVEXMRKMRXLIMRXIRHIHQERRIV

7YFWIUYIRXGSWXWEVIVIGSKRMWIHEWTVSTIVX]TPERXERHIUYMTQIRXSRP][LIRMXMWPMOIP]XLEXJYXYVIIGSRSQMGFIRIJMXW[MPPJPS[XSXLI-RWXMXYXMSR To be read with the notes to the financial statements 43 7YFWIUYIRXGSWXWEVIVIGSKRMWIHEWTVSTIVX]TPERXERHIUYMTQIRXSRP][LIRMXMWPMOIP]XLEXJYXYVIIGSRSQMGFIRIJMXW[MPPJPS[XSXLI-RWXMXYXMSR 27

To be read with the notes to the financial statements 46 ANNUAL REPORT 2020

EDP Foundation EDP Foundation EDP Foundation Notes to the Financial Statements for the financial year ended 31 December 2020 and 2019 Notes to the Financial Statements for the financial year ended 31 December 2020 and 2019 Notes to the Financial Statements for EDPthe financialFoundation year ended 31 December 2020 and 2019 Notes to the Financial Statements for the financial year ended 31 December 2020 and 2019

1. Identification of the entity 1. Identification of the entity (E]XSHE]WIVZMGMRKSVVITEMVERHQEMRXIRERGIGSWXWEVIVIGSKRMWIHEWGSWXWMRXLI]IEVMR[LMGLXLI]SGGYVEWXLI]EVIMRGYVVIHSREREGGVYEPFEWMW -QTEMVQIRX PSWWIW EVI VIGSVHIH FEWIH SR XLI VIKYPEV EWWIWWQIRX SJ XLI I\MWXIRGI SJ SFNIGXMZI IZMHIRGI SJ MQTEMVQIRX VIWYPXMRK JVSQ HSYFXJYP HIFXW EW EX XLI FEPERGI WLIIX HEXI 01 -QTEMVQIRXPSWWIWEVIVIGSKRMWIHMRXLIMRGSQIWXEXIQIRXERHEVIWYFWIUYIRXP]VIZIVWIHXLVSYKLXLIMRGSQIWXEXIQIRXMJXLIIWXMQEXIHPSWWIWHIGVIEWIEXEPEXIVTIVMSH *YRHEʡʝS )(4 0IKEP )RXMX] 2S MW E RSRTVSJMX MRWXMXYXMSR [MXL VIKMWXIVIH SJJMGI MR 0MWFSR JSYRHIH F] )(4 )RIVKMEW HI 4SVXYKEP 7% SR (IGIQFIV ERH [LMGL *YRHEʡʝ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d) Income tax for the year &] 4VMQI1MRMWXIVMEP SVHIV SJ (IGIQFIV TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ (IGIQFIV XLI *SYRHEXMSR [EW &] 4VMQI1MRMWXIVMEP SVHIV SJ (IGIQFIV TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ (IGIQFIV XLI *SYRHEXMSR [EW HIGPEVIHETYFPMGMRXIVIWXIRXMX]YRHIV(IGVII0E[SJ2SZIQFIV8LI VIGSZIVEFPI EQSYRX MW XLI LMKLIV FIX[IIR XLI asset’s JEMV ZEPYI QMRYW XLI GSWXW SJ WIPPMRK ERH MXW ZEPYI MR YWI XLI PEXXIV FIMRK GEPGYPEXIH F] XLI FIWX IWXMQEXI SJ XLI asset’s HIGPEVIHETYFPMGMRXIVIWXIRXMX]YRHIV(IGVII0E[SJ2SZIQFIV TVIWIRXERHJYXYVIEGXMZMXMIWJSVXLIIRXMX] 8LI )(4 Foundation’s IEVRMRKW JSV FYWMRIWW GEVVMIH SYX YRHIV MXW WXEXYXSV] TYVTSWIW XS TVSQSXI ERH WYTTSVX MRMXMEXMZIW SJ E WSGMEP GYPXYVEP WGMIRXMJMG XIGLRSPSKMGEP IHYGEXMSREP 02 environmental and sports nature, as well as to defend the EDP’s heritage), are included in the income tax exemption scheme, pursuant to article 11(1) of the respective Code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ʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ MXW TYFPMG MRXIVIWX WXEXYW [LMGL [EW GSRJMVQIH F] EHQMRMWXVEXMZI SVHIV SJ *IFVYEV] TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ *IFVYEV] 8LI TYFPMG MRXIVIWX WXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRK IJJIGX SJThe Ministry*IFVYEV] of Finance’s8LI TYFPMG administrativeMRXIVIWX WXEXYW order[EW 2456/2010,VIRI[IH JSV ofER 27EHHMXMSREP December,JMZI recognised]IEVW EW theSJ TYFPMGEXMSR EDP FoundationSJ XLI asEHQMRMWXVEXMZI being exemptSVHIV from2S income tax, withSJ the following*IFVYEV] scope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’s0ERHLIVMXEKI 8LI )(4 Foundation’s WTIGMEP TYVTSWI MW XS TVSQSXI XLIWXYH] TVIWIVZEXMSR ERH HMWWIQMREXMSR SJ XLI GYPXYVEP WGMIRXMJMG ERH XIGLRSPSKMGEP [IPPCategoryEW XS E HIJIRH– CapitalEDP’s income,LIVMXEKI except8LI that)(4 whichFoundation’s is derived fromWTIGMEP any TYVTSWIbearer securities,MW XS TVSQSXI neitherXLI registeredWXYH] TVIWIVZEXMSR nor deposited,ERH pursuantHMWWIQMREXMSR to the lawsSJ XLI in force;GYPXYVEP WGMIRXMJMG ERH XIGLRSPSKMGEP LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK]&YMPHMRKWERHSXLIVGSRWXVYGXMSRW LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK] &EWMGIUYMTQIRX E Category F – Income from property; 8LI )(4 *SYRHEXMSR [EW8VERWTSVXIUYMTQIRXGVIEXIH F] MXW *SYRHIV )(4 )RIVKMEW HI 4SVXYKEP 7% [MXL VIKMWXIVIHE SJJMGI EX %ZIRMHE HI .YPLS 2S MR 0MWFSR [MXL ER MRMXMEP 'ETMXEP *YRH SJ 8LI )(4 *SYRHEXMSR [EW GVIEXIH F] MXW *SYRHIV )(4 )RIVKMEW HI 4SVXYKEP 7% [MXL VIKMWXIVIH SJJMGI EX %ZIRMHE HI .YPLS 2S MR 0MWFSR [MXL ER MRMXMEP 'ETMXEP *YRH SJ IYVSW GSRWXMXYXIH8SSPWERHYXIRWMPWXLVSYKL E GEWL HSREXMSR SJ IYVSW ERH E JMRERGMEP EPPSGEXMSR SJ IYVSW 3R XLI &EPERGI 7LIIX HEXI XLI EQSYRX SJ XLI Category G – IncreaseIYVSW GSRWXMXYXIH in wealth. XLVSYKL E GEWL HSREXMSR SJ IYVSW ERH E JMRERGMEP EPPSGEXMSR SJ IYVSW 3R XLI &EPERGI 7LIIX HEXI XLI EQSYRX SJ XLI EPPSGEXMSRWLEHFIIRTEMHMRJYPP3JJMGIIUYMTQIRX E EPPSGEXMSRWLEHFIIRTEMHMRJYPP 04 3XLIVTVSTIVX]TPERX IUYMTQIRX 8LMW I\IQTXMSR MW ETTPMGEFPI JVSQ (IGIQFIV HEXI SR [LMGL XLI 4VMQI Minister’s EHQMRMWXVEXMZI SVHIV [EW TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 2. Accounting reference for preparation of financial statements 2. 7IVMIWAccounting-- 2S reference VIGSKRMWMRK for preparationXLI JSYRHEXMSR of financialEW statementsE 4YFPMG -RXIVIWX 'SQTER] GSRJMVQIH F] EHQMRMWXVEXMZI SVHIV SJ *IFVYEV] TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP 0ERHVIKMWXIVIHYRHIVGSRGIWWMSRGSRXVEGXJSVTVMZEXIYWIEWEJMRERGIPIEWIMWEQSVXMWIHSZIVXLIGSRGIWWMSRTIVMSHSJ]IEVW .SYVREP 7IVMIW -- 2S SJ *IFVYEV] 8LI TYFPMG MRXIVIWX WXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ 2.1 Bases of presentation 2.1 *IFVYEV]XEOMRKIJJIGXWMRGI*IFVYEV]Bases of presentation 8LI YWIJYP PMJI HITVIGMEXMSR QIXLSH ERH VIWMHYEP ZEPYI SJ XLI EWWIXW EVI VIZMI[IH ERRYEPP] 8LI IJJIGX SJ GLERKIW MR XLIWI IWXMQEXIW MW VIGSKRMWIH MR XLI MRGSQI WXEXIQIRX 05 TVSWTIGXMZIP]8LI )(4 Foundation’s JMRERGMEP WXEXIQIRXW [IVI TVITEVIH MR EGGSVHERGI [MXL XLI 9RMJMIH %GGSYRXMRK 7]WXIQ JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 72')720 – 2SVQEPMÊʡʝS e) 8LIAccounts)(4 Foundation’spayable JMRERGMEP WXEXIQIRXW [IVI TVITEVIH MR EGGSVHERGI [MXL XLI 9RMJMIH %GGSYRXMRK 7]WXIQ JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 72')720 – 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGE TEVE EW )RXMHEHIW HS 7IXSV RʝS 0YGVEXMZS TYVWYERX XS XLI XIVQW MR (IGVII 0E[ % SJ 1EVGL [LMGL MW ER MRXIKVEP TEVX SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 'SRXEFMPʧWXMGE TEVE EW )RXMHEHIW HS 7IXSV RʝS 0YGVEXMZS TYVWYERX XS XLI XIVQW MR (IGVII 0E[ % SJ 1EVGL [LMGL MW ER MRXIKVEP TEVX SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' – 7MWXIQE HI 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGE ETTVSZIH F] (IGVII 0E[ SJ .YP] FSXL EW EQIRHIH F] (IGVII 0E[ SJ .YRI 8LI 72')720 MW VIKYPEXIH F] 72'(IFXW–TE]EFPI7MWXIQEEVIHIMRMXMEPP]2SVQEPMÊʡʝSVIGSKRMWIH'SRXEFMPʧWXMGE EX JEMV ZEPYIETTVSZIHHIHYGXIHF]SJ(IGVIIXLI GSWXW0E[EXXVMFYXEFPI SJXSXLI.YP]HIFXFSXLMWWYIEW ERHEQIRHIHEVI WYFWIUYIRXP]F] (IGVII 0E[QIEWYVIHEXSJEQSVXMWIH .YRI 8LIGSWX72')720 [LIR XLIMWXMQIVIKYPEXIHZEPYI F]SJ +EMRW SV PSWWIW EVMWMRK JVSQ [VMXISJJW SV HMZIWXQIRXW EVI HIXIVQMRIH F] XLI HMJJIVIRGI FIX[IIR XLI TVSGIIHW ERH XLI asset’s FSSO ZEPYI ERH EVI VIGSKRMWIH EW MRGSQI SV XLIJSPPS[MRKEGXW XLIJSPPS[MRKEGXWQSRI]MWQEXIVMEPP]VIPIZERX I\TIRWIWHYVMRKXLI]IEV

2SXMGI SJ .YP] – %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 2'6*)720 – 2SVQE 'SRXEFMPʧWXMGE I HI VIPEXS *MRERGIMVS TEVE f) Cash2SXMGI and bank depositsSJ .YP] – %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 2'6*)720 – 2SVQE 'SRXEFMPʧWXMGE I HI VIPEXS *MRERGIMVS TEVE ;SVOWSJEVXFIPSRKMRKXSXLI)(4*SYRHEXMSRGSPPIGXMSREVIWXEXIHMRXLIFSSOWEXGSWXSJEGUYMWMXMSRSVMRXLIGEWISJHSREXMSREGGSVHMRKXSXLIGVMXIVMEFIPS[ 06 EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS - Ordinance 218/2015, of 23 July – Specific Account Codes for Entities in the Non-Profit Sector (CC-ESNL – Código de Contas específico para as Entidades do Setor Não Lucrativo); -'EWL OrdinanceERH FERO 218/2015,HITSWMXW ofMRGPYHI 23 JulyXLI – SpecificGEWL MR AccountLERH FERO CodesHITSWMXW for EntitiesERH WLSVX in theXIVQ Non-ProfitLMKLP] PMUYMH SectorJMRERGMEP (CC-ESNLMRZIWXQIRXW – CódigoXLEX de ContasEVI VIEHMP] específicoGSRZIVXMFPI para XSas ORS[REntidadesEQSYRXW do SetorSJ GEWLNão Lucrativo);ERH [LMGL -Property, Ordinance plant 220/2015, & equipment of 24 Julygranted – Financial free of chargeStatement Models applicable to Entities in the Non-profit Sector. -EVIWYFNIGXXSERMRWMKRMJMGERXVMWOSJGLERKIWMRZEPYI Ordinance 220/2015, of 24 July – Financial Statement Models applicable to Entities in the Non-profit Sector.

4VSTIVX]TPERXERHIUYMTQIRXKVERXIHJVIISJGLEVKIREQIP]HSREXIH[SVOWSJEVXEXXLIKVERXHEXIMWQIEWYVIHEWJSPPS[WERHMRXLISVHIVTVIWIRXIH g) Other changes in endowment funds – Investment subsidies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alue for whichXLI )RXMX] they wereWLEPP recordedYWI TVSZMHIH in theSRP] donator’sXS SZIVGSQI books. XLI WLSVXGSQMRK EHHMXMSREPP] ERH MR XLI JSPPS[MRK SVHIV M XLI %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW 2'6* MRJSVQEXMSRTIVMSHW VIUYMVIHXLI )RXMX]XS QEXGLWLEPPXLIQYWI [MXLTVSZMHIHXLI VIPEXIHSRP] XSI\TIRHMXYVISZIVGSQI XLITIVMSHWWLSVXGSQMRKXLEX XLI]EHHMXMSREPP]EVI MRXIRHIHERHXSMRGSQTIRWEXIXLI JSPPS[MRK7YFWMHMIWSVHIV M EVIXLI GSRWMHIVIH%GGSYRXMRKRSRVIJYRHEFPIERH *MRERGMEP 6ITSVXMRK[LIVI XLIVI7XERHEVHWMW ER MRHMZMHYEP 2'6* -RXIVTVIXMZI +YMHIPMRIW (NI–Normas -RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW (NIC–Normas -RXIVTVIXMZIEKVIIQIRXKVERXMRKXLIWYFWMH]XSXLIIRXMX]ERH[LIVIXLIGSRHMXMSRWJSVXLIKVERXLEZIFIIRJYPJMPPIHERHXLIVIMWRSHSYFXXLEXXLIWYFWMHMIW[MPPFIVIGIMZIH+YMHIPMRIW (NI–Normas -RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW (NIC–Normas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oundation’s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nstitution’s )\IGYXMZI &SEVH SR %TVMP EVI VIGSVHIH MR IYVSW ERH [IVI TVITEVIH SR E KSMRK GSRGIVR FEWMW ERH SR XLI EGGVYEP FEWMW h) ERHProvisionsXLI ETTIRHM\ [IVI ETTVSZIH F] XLI Institution’s )\IGYXMZI &SEVH SR %TVMP EVI VIGSVHIH MR IYVSW ERH [IVI TVITEVIH SR E KSMRK GSRGIVR FEWMW ERH SR XLI EGGVYEP FEWMW MRHistoric[LMGL andXLI MXIQWculturalEVI heritageVIGSKRMWIH assetsEW EWWIXW PMEFMPMXMIW IRHS[QIRX JYRHW MRGSQI ERH GSWXW [LIR XLIWI WEXMWJ] XLI HIJMRMXMSRW ERH VIGSKRMXMSR GVMXIVME JSV XLSWI IPIQIRXW GSRXEMRIH MR [LMGL XLI MXIQW EVI VIGSKRMWIH EW EWWIXW PMEFMPMXMIW IRHS[QIRX JYRHW MRGSQI ERH GSWXW [LIR XLIWI WEXMWJ] XLI HIJMRMXMSRW ERH VIGSKRMXMSR GVMXIVME JSV XLSWI IPIQIRXW GSRXEMRIH MRXLIGSRGITXYEPJVEQI[SVOMRGSQTPMERGI[MXLXLIUYEPMXEXMZIGLEVEGXIVMWXMGWSJGSRWMWXIRG]SJTVIWIRXEXMSRQEXIVMEPMX]ERHEKKVIKEXMSRGSQTIRWEXMSRERHGSQTEVEFMPMX] MRXLIGSRGITXYEPJVEQI[SVOMRGSQTPMERGI[MXLXLIUYEPMXEXMZIGLEVEGXIVMWXMGWSJGSRWMWXIRG]SJTVIWIRXEXMSRQEXIVMEPMX]ERHEKKVIKEXMSRGSQTIRWEXMSRERHGSQTEVEFMPMX]4VSZMWMSRWEVIVIGSKRMWIH[LIR ,MWXSVMG ERH GYPXYVEP LIVMXEKI EWWIXW MRGPYHI TVMZEXI EWWIXW GPEWWMJMIH EW LMWXSVMG LIVMXEKI EW TIV XLIMV VIWTIGXMZI TVSTIVX] XE\ HSGYQIRXW REQIP] XLI 8INS 4S[IV 7XEXMSR PERH ERH FYMPHMRK • The Institution has a present, legal or constructive obligation as a result of a past event; report 8LI EGGSYRXMRK TSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIH MR 8LI EGGSYRXMRK TSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIH MR XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIV,MWXSVMGERHGYPXYVEPLIVMXEKIEWWIXWEVIRSXWYFNIGXXSHITVIGMEXMSRYRHIVXLI2'6*)720VIKYPEXMSRW XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIV• It is likely that an outflow of resources embodying economic benefits will be required to settle the obligation; and, Financial

• It is possible to make a reliable estimate of the value of that obligation. 2.2b) LeasesNo derrogations were made from the provisions in the SNC-ESNL. 2.2 No derrogations were made from the provisions in the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here are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. i) Subsidies, There are donationsno accounts and in operatingthe balance grants sheet and in the income statement whose contents are not comparable with those from the previous year. 09 2.3 2.3 Operating leases 3. Key accounting policies 3. *MRERGMEPKey accountingGSRXVMFYXMSRW policiesKVERXIH F] XLI *SYRHIV ERH XLI )(4 Group’s RYGPIEV TS[IV GSQTERMIW EVI MRXIRHIH XS QIIX XLI I\TIRWIW SJ XLI Foundation’s EGXMZMX] 8LI] EVI VIGSVHIH YRHIVXLMWLIEHMRKMRXLI]IEVXS[LMGLXLI]VIPEXIVIKEVHPIWWSJXLIHEXISR[LMGLXLI][IVIVIGIMZIH 0IEWI TE]QIRXWMRGSQI YRHIV STIVEXMRK PIEWI GSRXVEGXW GEVVMIH SYX F] XLI )(4 *SYRHEXMSR EVI VIGSKRMWIH EW I\TIRWIWMRGSQI MR XLI TIVMSH XS [LMGL XLI] VIPEXI SR E WXVEMKLXPMRI FEWMW8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[W 8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[W j) Employee benefits 3.1 FinanceMeasurement leases bases used in preparing the financial statements 3.1 Measurement bases used in preparing the financial statements Pensions *MRERGI8LI JMRERGMEPPIEWIWWXEXIQIRXWEVI VIGSKRMWIH[IVI TVITEVIHEX XLI PIEWIYRHIVWXEVXXLI LMWXSVMGHEXI EWGSWXEWWIXWTVMRGMTPIERH PMEFMPMXMIWFEWIH SREXXLIXLIInstitution’sJEMV ZEPYI SJEGGSYRXMRKXLI PIEWIHVIGSVHWTVSTIVX]0MEFMPMXMIWSV MJ PS[IVJVSQEXHIJMRIHXLI TVIWIRXFIRIJMXZEPYIFSRHWSJEVIXLIVIGSKRMWIHQMRMQYQ EXPIEWIXLI 8LI JMRERGMEP WXEXIQIRXW [IVI TVITEVIH YRHIV XLI LMWXSVMG GSWX TVMRGMTPI FEWIH SR XLI Institution’s EGGSYRXMRK VIGSVHW 0MEFMPMXMIW JVSQ HIJMRIH FIRIJMX FSRHW EVI VIGSKRMWIH EX XLI TE]QIRXW8LIMRMXMEPHMVIGXGSWXWSJXLIPIWWIIEVIEHHIHXSXLIEQSYRXVIGSKRMWIHEWEREWWIXpresent value of the bond net of the fund’s assets. present8LI )(4 value*SYRHEXMSR of the bondEWWMKRW net ofTSWXVIXMVIQIRX the fund’s assets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efined benefitTSPMGMIW plansERH XLI VITSVXIH ZEPYI SJ EWWIXW PMEFMPMXMIW MRGSQI ERH I\TIRWIW 8LI IWXMQEXIW ERH VIPEXIH EWWYQTXMSRW EVI FEWIH SR LMWXSVMG I\TIVMIRGI ERH SXLIV JEGXSVW XLEX EVI FIPMIZIH XS FI VIEWSREFPI YRHIV XLI GMVGYQWXERGIW XLI VIWYPXW SJ [LMGL JSVQ XLI FEWMW JSV QEOMRK NYHKQIRXW VIKEVHMRK XLI GEVV]MRK ZEPYIW SJ EWWIXW ERH PMEFMPMXMIW XLEX EVI XLEX EVI FIPMIZIH XS FI VIEWSREFPI YRHIV XLI GMVGYQWXERGIW XLI VIWYPXW SJ [LMGL JSVQ XLI FEWMW JSV QEOMRK NYHKQIRXW VIKEVHMRK XLI GEVV]MRK ZEPYIW SJ EWWIXW ERH PMEFMPMXMIW XLEX EVI c) RSXAccountsVIEHMP] receivable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elevant accounting policies 3.2 Relevant accounting policies 8LI *SYRHEXMSR W PMEFMPMXMIW JSV VIXMVIQIRX TIRWMSRW EVI GEPGYPEXIH ERRYEPP] SR XLI HEXI SJ GPSWMRK SJ EGGSYRXW F] MRHITIRHIRX I\TIVXW MRHMZMHYEPP] JSV IEGL TPER FEWIH SR XLI a) Property, plant & equipment a) 4VSNIGXIHProperty, plant9RMX 'VIHMX & equipment1IXLSH 8LI HMWGSYRX VEXI YWIH MR XLMW GEPGYPEXMSR MW HIXIVQMRIH FEWIH SR QEVOIX VEXIW EWWSGMEXIH [MXL FSRHW SJ GSQTERMIW [MXL E LMKL VEXMRK ERH [MXL E QEXYVMX]WMQMPEVXSXLIHEXISJXLIXIVQSJXLITPER WSFPMKEXMSRW 4VSTIVX] TPERX ERH IUYMTQIRX MW VIKMWXIVIH EX EGUYMWMXMSR GSWX [LMGL MRGPYHIW XLI TYVGLEWI TVMGI HYXMIW RSRVIJYRHEFPI TYVGLEWI XE\IW ERH ER] GSWXW HMVIGXP] EXXVMFYXEFPI XS FVMRK 4VSTIVX] TPERX ERH IUYMTQIRX MW VIKMWXIVIH EX EGUYMWMXMSR GSWX [LMGL MRGPYHIW XLI TYVGLEWI TVMGI HYXMIW RSRVIJYRHEFPI TYVGLEWI XE\IW ERH ER] GSWXW HMVIGXP] EXXVMFYXEFPI XS FVMRK XLIEWWIXXSXLIPSGEXMSRERHGSRHMXMSRRIGIWWEV]JSVMXXSFIGETEFPISJSTIVEXMRKMRXLIMRXIRHIHQERRIV XLIEWWIXXSXLIPSGEXMSRERHGSRHMXMSRRIGIWWEV]JSVMXXSFIGETEFPISJSTIVEXMRKMRXLIMRXIRHIHQERRIV

7YFWIUYIRXGSWXWEVIVIGSKRMWIHEWTVSTIVX]TPERXERHIUYMTQIRXSRP][LIRMXMWPMOIP]XLEXJYXYVIIGSRSQMGFIRIJMXW[MPPJPS[XSXLI-RWXMXYXMSR 7YFWIUYIRXGSWXWEVIVIGSKRMWIHEWTVSTIVX]TPERXERHIUYMTQIRXSRP][LIRMXMWPMOIP]XLEXJYXYVIIGSRSQMGFIRIJMXW[MPPJPS[XSXLI-RWXMXYXMSR 28

4748 47 49 ANNUAL REPORT 2020

EDP Foundation EDP Foundation EDP Foundation EDP Foundation Notes to the Financial Statements for the financial year ended 31 December 2020 and 2019 Notes to the Financial Statements for the financial year ended 31 December 2020 and 2019 Notes to the Financial Statements for the financial year ended 31 December 2020 and 2019 Notes to the Financial Statements for the financial year ended 31 December 2020 and 2019

o) Events after the balance sheet date 1. 8LIIdentificationEGXYEVMEP KEMRWof theERH entityPSWWIW EVMWMRK JVSQ M XLI HMJJIVIRGIW FIX[IIR XLI EGXYEVMEP ERH JMRERGMEP EWWYQTXMSRW YWIH ERH XLI ZEPYIW EGXYEPP] ZIVMJMIH ERH MM XLI GLERKIW MR EGXYEVMEP 1. Identification of the entity EWWYQTXMSRWEVIVIGSKRMWIHMRVIWIVZIW 01 8LI JMRERGMEP WXEXIQIRXW TVIWIRXIH VIJPIGX XLI WYFWIUYIRX IZIRXW XLEX XSSO TPEGI YRXMP %TVMP HEXI SR [LMGL XLI] [IVI ETTVSZIH F] XLI )\IGYXMZI &SEVH EW VIJIVVIH MR 2SXI *YRHEʡʝS )(4 0IKEP )RXMX] 2S MW E RSRTVSJMX MRWXMXYXMSR [MXL VIKMWXIVIH SJJMGI MR 0MWFSR JSYRHIH F] )(4 )RIVKMEW HI 4SVXYKEP 7% SR (IGIQFIV ERH [LMGL *YRHEʡʝ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ʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ (IGIQFIV XLI *SYRHEXMSR [EW &] 4VMQI1MRMWXIVMEP SVHIV SJ (IGIQFIV TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱ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p) -RReservesSVHIV XS - GSQTP]Donations[MXL EVXMGPI SJ XLI 4VIEQFPI SJ XLI 6IKYPEXSV] *VEQI[SVO JSV *SYRHEXMSRW ETTVSZIH F] 0E[ SJ .YP] XLI )(4 *SYRHEXMSR VIUYIWXIH GSRJMVQEXMSR SJ MXW TYFPMG MRXIVIWX WXEXYW [LMGL [EW GSRJMVQIH F] EHQMRMWXVEXMZI SVHIV SJ *IFVYEV] TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ MXW TYFPMG MRXIVIWX WXEXYW [LMGL [EW GSRJMVQIH F] EHQMRMWXVEXMZI SVHIV SJ *IFVYEV] TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ *IFVYEV] 8LI TYFPMG MRXIVIWX WXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRK IJJIGX SJ *IFVYEV] 8LI TYFPMG MRXIVIWX WXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRK IJJIGX Defined contribution plans Reserves – Donations represent a set of Works of Art and equipment, offered by the authors and entities, following exhibitions carried out and partnership protocols entered into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’s LIVMXEKI 8LI )(4 Foundation’s WTIGMEP TYVTSWI MW XS TVSQSXI XLI WXYH] TVIWIVZEXMSR ERH HMWWIQMREXMSR SJ XLI GYPXYVEP WGMIRXMJMG ERH XIGLRSPSKMGEP [IPP EW XS HIJIRH EDP’s LIVMXEKI 8LI )(4 Foundation’s WTIGMEP TYVTSWI MW XS TVSQSXI XLI WXYH] TVIWIVZEXMSR ERH HMWWIQMREXMSR SJ XLI GYPXYVEP WGMIRXMJMG ERH XIGLRSPSKMGEP IQTPS]IIWMRGPYHIHMRXLITPERERHEVIVIGSVHIHMRXLIEGGSYRXMRKEWGSWXWMRXLI]IEVMR[LMGLXLI]EVIHYI 3.3 Key accounting estimates and judgements in preparing the financial statements LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK] LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK] 8LI 2'6* VIUYMVI XLEX IWXMQEXIW ERH NYHKQIRXW FI QEHI MR XLI HIGMWMSR TVSGIWW EFSYX GIVXEMR EGGSYRXMRK XVIEXQIRXW [MXL MQTEGX SR XLI ZEPYI VITSVXIH JSV EPP SJ XLI EWWIXW 8LIOther)(4 benefits*SYRHEXMSR granted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ealthcare plans EPPSGEXMSRWLEHFIIRTEMHMRJYPP8LI OI] EGGSYRXMRK IWXMQEXIW ERH NYHKQIRXW YWIH XS ETTP] XLI EGGSYRXMRK TVMRGMTPIW YWIH F] XLI *SYRHEXMSR EVI HMWGYWWIH MR XLMW RSXI MR SVHIV XS MQTVSZI XLI YRHIVWXERHMRK SJ 04 LS[ XLIMV ETTPMGEXMSR EJJIGXW XLI Institution’s VITSVXIH VIWYPXW ERH HMWGPSWYVIW % QSVI HIXEMPIH HIWGVMTXMSR SJ XLI OI] EGGSYRXMRK TSPMGMIW IQTPS]IH F] XLI -RWXMXYXMSR MW TVIWIRXIH MR 8LI )(4 *SYRHEXMSR KVERXW FIRIJMXW YRHIV [LMGL IPMKMFPI IQTPS]IIW ERH HMVIGX VIPEXMZIW FIRIJMX JVSQ JEZSYVEFPI GSRHMXMSRW MR QIHMGEP EWWMWXERGI ERH LIEPXLGEVI WIVZMGIW 2SXISJXLI%TTIRHM\ 2. I\TVIWWIHXLVSYKLQIHMGEPGEVIXLEXGSQTPIQIRXWXLI2EXMSREP,IEPXL7IVZMGI[LMGLMWKYEVERXIIHXLVSYKLMRJVEWXVYGXYVIWXLEXEVILIPHERHQEREKIHMRXIVREPP]Accounting reference for preparation of financial statements 2. Accounting reference for preparation of financial statements

2.1 Bases of presentation 2.1 'SRWMHIVMRKBases of presentationXLEX MR QER] GEWIW XLIVI EVI EPXIVREXMZIW XS XLI EGGSYRXMRK XVIEXQIRX EHSTXIH F] XLI -RWXMXYXMSR XLI VITSVXIH VIWYPXW GSYPH HMJJIV MJ E HMJJIVIRX XVIEXQIRX [EW GLSWIR 8LIWILIEPXLGEVITPERWEVIGPEWWMJMIHEWJYXYVIFIRIJMXTPERW 8LI )\IGYXMZI &SEVH FIPMIZIW XLEX XLI GLSMGIW QEHI EVI ETTVSTVMEXI ERH XLEX XLI JMRERGMEP WXEXIQIRXW TVIWIRX JEMVP] MR EPP QEXIVMEP VIWTIGXW XLI Foundation’s JMRERGMEP TSWMXMSR ERH VIWYPXW 05 8LI LIEPXLGEVI)(4 Foundation’sERH HIEXLJMRERGMEPKVERX TPERWXEXIQIRXWMW EWWYVIH[IVIF]TVITEVIH M E JYRHMRQEREKIHEGGSVHERGIF] ER[MXLI\XIVREPXLI 9RMJMIHIRXMX] IWXEFPMWLIH%GGSYRXMRKMR7]WXIQ(IGIQFIVJSV )RXMXMIW ERHMR MM XLIF]2SR4VSJMXER EHHMXMSREP7IGXSVWTIGMJMG 72')720TVSZMWMSR– 2SVQEPMÊʡʝSVIGSKRMWIH MR 8LI )(4 Foundation’s JMRERGMEP WXEXIQIRXW [IVI TVITEVIH MR EGGSVHERGI [MXL XLI 9RMJMIH %GGSYRXMRK 7]WXIQ JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 72')720 – 2SVQEPMÊʡʝS the'SRXEFMPʧWXMGE EDP Foundation’sTEVE EW Balance)RXMHEHIW Sheet.HS 7IXSV RʝS 0YGVEXMZS TYVWYERX XS XLI XIVQW MR (IGVII 0E[ % SJ 1EVGL [LMGL MW ER MRXIKVEP TEVX SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 'SRXEFMPʧWXMGE TEVE EW )RXMHEHIW HS 7IXSV RʝS 0YGVEXMZS TYVWYERX XS XLI XIVQW MR (IGVII 0E[ % SJ 1EVGL [LMGL MW ER MRXIKVEP TEVX SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' – 7MWXIQE HI 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGE ETTVSZIH F] (IGVII 0E[ SJ .YP] FSXL EW EQIRHIH F] (IGVII 0E[ SJ .YRI 8LI 72')720 MW VIKYPEXIH F] 72'Impairment– 7MWXIQE in accountsHI 2SVQEPMÊʡʝS receivable'SRXEFMPʧWXMGE ETTVSZIH F] (IGVII 0E[ SJ .YP] FSXL EW EQIRHIH F] (IGVII 0E[ SJ .YRI 8LI 72')720 MW VIKYPEXIH F] XLIJSPPS[MRKEGXW XLIJSPPS[MRKEGXW 6IGSKRMXMSRERHQIEWYVIQIRXSJPMEFMPMXMIWJSVXLILIEPXLGEVITPERWEVIMHIRXMGEPXSXLSWIQIRXMSRIHEFSZIJSVXLIHIJMRIHFIRIJMXTIRWMSRTPERW -QTEMVQIRX PSWWIW TIVXEMRMRK XS HSYFXJYP HIFXW EVI FEWIH SR XLI Foundation’s EWWIWWQIRX SJ XLI PMOIPMLSSH SJ VIGSZIVMRK XLI FEPERGIW SJ EGGSYRXW VIGIMZEFPI XLI HEXI SJ HIJEYPX HIFX [VMXISJJW ERH SXLIV JEGXSVW 'IVXEMR GMVGYQWXERGIW ERH JEGXW QE] GLERKI XLI IWXMQEXIH MQTEMVQIRX PSWWIW SR EGGSYRXW VIGIMZEFPI FEWIH SR XLI EWWYQTXMSRW GSRWMHIVIH 2SXMGI SJ .YP] – %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 2'6*)720 – 2SVQE 'SRXEFMPʧWXMGE I HI VIPEXS *MRERGIMVS TEVE 2SXMGI SJ .YP] – %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 2'6*)720 – 2SVQE 'SRXEFMPʧWXMGE I HI VIPEXS *MRERGIMVS TEVE Other benefits MRGPYHMRK GLERKIW MR XLI IGSRSQMG IRZMVSRQIRX XVIRHW MR XLI WIGXSV HIXIVMSVEXMSR MR XLI GVIHMX WXERHMRK SJ QENSV GPMIRXW ERH WMKRMJMGERX HIJEYPXW 'LERKIW MR XLIWI IWXMQEXIW QE] 06 EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS EPXIV XLI MQTEMVQIRX XIWX VIWYPXW ERH GSRWIUYIRXP] EJJIGX XLI VIWYPXW VITSVXIH ,S[IZIV EKEMRWX XLI FEPERGI SJ GYWXSQIVW ERH SXLIV VIGIMZEFPIW ER] GLERKIW MR EWWYQTXMSRW - Ordinance 218/2015, of 23 July – Specific Account Codes for Entities in the Non-Profit Sector (CC-ESNL – Código de Contas específico para as Entidades do Setor Não Lucrativo); - Ordinance 218/2015, of 23 July – Specific Account Codes for Entities in the Non-Profit Sector (CC-ESNL – Código de Contas específico para as Entidades do Setor Não Lucrativo); -R EHHMXMSR XLI )(4 +VSYT EWWMKRW SXLIV FIRIJMXW FIEVMRK XLI GSWXW EVMWMRK JVSQ PMEFMPMXMIW JVSQ WYTTPIQIRXW JSV HMWEFMPMX] HIEXL KVERX ERH WYVZMZSVWLMT TIRWMSRW PMJI MRWYVERGI [SYPHRSXLEZIEQEXIVMEPIJJIGXSRXLIJMRERGMEPWXEXIQIRXW - Ordinance 220/2015, of 24 July – Financial Statement Models applicable to Entities in the Non-profit Sector. - Ordinance 220/2015, of 24 July – Financial Statement Models applicable to Entities in the Non-profit Sector. FSRYWIWJSVWIRMSVMX]ERHVIXMVIQIRXHMWGSYRXWMRIPIGXVMGMX]ERHKEWTVMGIWEQSRKSXLIVW Pensions and other employee benefits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k) -RXIVTVIXMZIRecognition+YMHIPMRIW of expenses(NI–Normas and income-RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW (NIC–Normas -RXIVTVIXMZI +YMHIPMRIW (NI–Normas -RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW (NIC–Normas -RXIVREGMSREMW HI 'SRXEFMPMHEHI EHSTXIH YRHIV 6IKYPEXMSR SJ XLI )YVSTIER 4EVPMEQIRX ERH SJ XLI 'SYRGMP SJ .YP] ERH MMM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW -RXIVREGMSREMW HI 'SRXEFMPMHEHI EHSTXIH YRHIV 6IKYPEXMSR SJ XLI )YVSTIER 4EVPMEQIRX ERH SJ XLI 'SYRGMP SJ .YP] ERH MMM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW -%7 ERH-RXIVREXMSREP*MRERGMEP6ITSVXMRK7XERHEVHW -*67 MWWYIHF]XLI-%7&)\TIRWIW ERH MRGSQI EVI VIKMWXIVIH MR XLI ]IEV XS [LMGL XLI] VIJIV VIKEVHPIWW SJ [LIR TEMH SV VIGIMZIH TYVWYERX XS XLI EGGVYEPFEWIH EGGSYRXMRK W]WXIQ 8LI HMJJIVIRGIW FIX[IIR 3.4 -%7 ERH-RXIVREXMSREP*MRERGMEP6ITSVXMRK7XERHEVHW -*67 MWWYIHF]XLI-%7&Key assumptions concerning the future EQSYRXWTEMHERHVIGIMZIHERHXLIGSVVIWTSRHMRKVIZIRYIERHGSWXWEVIVIKMWXIVIHYRHIV3XLIVEWWIXWSVPMEFMPMXMIWHITIRHMRKSR[LIXLIVXLI]EVITE]EFPISVVIGIMZEFPI 8LI )(4 Foundation’s )\IGYXMZI &SEVH HMH RSX MHIRXMJ] ER] WMXYEXMSRW XLEX QE] GEYWI QEXIVMEP EHNYWXQIRXW XS XLI GEVV]MRK EQSYRXW SJ EWWIXW ERH PMEFMPMXMIW HYVMRK XLI JSPPS[MRK 08 8LIJMRERGMEPWXEXIQIRXWXLEXMRGPYHIXLIFEPERGIWXEXIQIRXXLIWXEXIQIRXSJTVSJMXWERHPSWWIWF]EGXMZMX]XLIWXEXIQIRXSJGLERKIWMRIRHS[QIRXJYRHWXLIGEWLJPS[WXEXIQIRX 8LIJMRERGMEPWXEXIQIRXWXLEXMRGPYHIXLIFEPERGIWXEXIQIRXXLIWXEXIQIRXSJTVSJMXWERHPSWWIWF]EGXMZMX]XLIWXEXIQIRXSJGLERKIWMRIRHS[QIRXJYRHWXLIGEWLJPS[WXEXIQIRX ERH XLI ETTIRHM\ [IVI ETTVSZIH F] XLI Institution’s )\IGYXMZI &SEVH SR %TVMP EVI VIGSVHIH MR IYVSW ERH [IVI TVITEVIH SR E KSMRK GSRGIVR FEWMW ERH SR XLI EGGVYEP FEWMW ERHyear,XLI or jeopardiseETTIRHM\ [IVI the Institution’sETTVSZIH F] continuity.XLI Institution’s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ey sources of estimation uncertainty l) Revenue 8LIOI]WSYVGIWSJIWXMQEXMSRYRGIVXEMRX]EVIHIXEMPIHMR2SXI report 8LI6IZIRYIMWQIEWYVIHEXXLIJEMVZEPYISJXLIGSRWMHIVEXMSRVIGIMZIHSVVIGIMZEFPIEGGSYRXMRK TSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIH MR 8LI EGGSYRXMRK TSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIH MR XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIV 4. XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIVAccounting policies, changes in accounting estimates and errors Financial ;LIR XLI SYXGSQI SJ E XVERWEGXMSR MRZSPZMRK XLI TVSZMWMSR SJ WIVZMGIW GER FI IWXMQEXIH VIPMEFP] XLI VIZIRYI EWWSGMEXIH [MXL XLI TVSZMWMSR SJ WIVZMGIW WLEPP FI VIGSKRMWIH F] 2.2 VIJIVIRGINo derrogationsXS XLI WXEKIwere madeSJ GSQTPIXMSR from the SJprovisionsXLI XVERWEGXMSR in the SNC-ESNL.EX XLI FEPERGI WLIIX HEXI 8LI SYXGSQI SJ E XVERWEGXMSR GER FI IWXMQEXIH VIPMEFP] [LIR EPP SJ XLI JSPPS[MRK GSRHMXMSRW EVI 2.2 No derrogations were made from the provisions in the SNC-ESNL. 4.1 Nature of the prior period material error and its impacts on the financial statements for those periods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here are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. 4.2 Amount There are of nothe accounts adjustment in thepertaining balance to sheet the current and in theperiod income or periods statement before whose those contents presented, are tonot the comparable practicable with extent. those from the previous year. 09 2.3 2.3 8LIGSWXWMRGYVVIHJSVXLIXVERWEGXMSRERHXLIGSWXWXSGSQTPIXIXLIXVERWEGXMSRGERFIQIEWYVIHVIPMEFP] 3. Key accounting policies 3. 2STVMSVTIVMSHIVVSVW[IVIMHIRXMJMIHKey accounting policies 6IZIRYI MRGPYHIW EQSYRXW MRZSMGIH SR XLI WEPI SJ TVSHYGXW SV WIVZMGIW VIRHIVIH RIX SJ ZEPYI EHHIH XE\ VIFEXIW ERH HMWGSYRXW ;LIR XLI MRJPS[ SJ GEWL SV GEWL IUYMZEPIRXW MW HIJIVVIHXLIJEMVZEPYISJXLIGSRWMHIVEXMSRQE]FIPIWWXLERXLIRSQMREPEQSYRX8LMWHMJJIVIRGIMWVIGSKRMWIHEWMRXIVIWXVIZIRYI8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[W 4.3 8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[WReasons why applying the new accounting policy provides reliable and more relevant information, in the case of voluntary application.

3.1m) MeasurementExpenses/Income bases from used financing in preparing the financial statements 3.1 2SXETTPMGEFPIMeasurement bases used in preparing the financial statements

8LI)\TIRWIWMRGSQIJMRERGMEP WXEXIQIRXWJVSQ JMRERGMRK[IVI TVITEVIHMRGPYHIYRHIVMRXIVIWXXLI TEMHLMWXSVMGJSV GSWXXLI PSERWTVMRGMTPISFXEMRIHFEWIHXLISRMRXIVIWXXLI Institution’sVIGIMZIHEGGSYRXMRKJVSQ MRZIWXQIRXWVIGSVHWQEHI0MEFMPMXMIWFIJSVIJVSQXLI HIJMRIHPSERW EVIFIRIJMXYWIH FSRHW [LIR EVIXLMWVIGSKRMWIHMW XLI GEWI EXERHXLI 5. 8LIFinancialJMRERGMEP riskWXEXIQIRXW management[IVI policiesTVITEVIH YRHIV XLI LMWXSVMG GSWX TVMRGMTPI FEWIH SR XLI Institution’s EGGSYRXMRK VIGSVHW 0MEFMPMXMIW JVSQ HIJMRIH FIRIJMX FSRHW EVI VIGSKRMWIH EX XLI presentWMQMPEVMRGSQIERHI\TIRWIWSFXEMRIHERHWYWXEMRIH[MXLVIWTIGXXSXLII\GLERKIHMJJIVIRGIWEWWSGMEXIH[MXLXLIPSERW value of the bond net of the fund’s assets. present value of the bond net of the fund’s assets. Liquidity risk management 4VITEVEXMSR-RXIVIWXMWVIGSKRMWIHSRXLIEGGVYEPFEWMWYWMRKXLIEQSVXMWIHGSWXQIXLSHSJ XLI JMRERGMEP WXEXIQIRXW EGGSVHMRK XS XLI 2'6*)720 VIUYMVIW XLI )\IGYXMZI &SEVH XS QEOI NYHKQIRXW IWXMQEXIW ERH EWWYQTXMSRW XLEX EJJIGX XLI ETTPMGEXMSR SJ XLI 4VITEVEXMSR SJ XLI JMRERGMEP WXEXIQIRXW EGGSVHMRK XS XLI 2'6*)720 VIUYMVIW XLI )\IGYXMZI &SEVH XS QEOI NYHKQIRXW IWXMQEXIW ERH EWWYQTXMSRW XLEX EJJIGX XLI ETTPMGEXMSR SJ XLI EGGSYRXMRK TSPMGMIW ERH XLI VITSVXIH ZEPYI SJ EWWIXW PMEFMPMXMIW MRGSQI ERH I\TIRWIW 8LI IWXMQEXIW ERH VIPEXIH EWWYQTXMSRW EVI FEWIH SR LMWXSVMG I\TIVMIRGI ERH SXLIV JEGXSVW EGGSYRXMRK(YI XS MXW EGXMZMX]TSPMGMIWXLIERH)(4XLI*SYRHEXMSRVITSVXIH ZEPYIMW I\TSWIHSJ EWWIXWXS PMUYMHMX]PMEFMPMXMIWVMWOMRGSQI[LMGL QE]ERH SGGYVI\TIRWIWMJ XLI8LIWSYVGIWIWXMQEXIWSJ JMRERGMRKERH VIPEXIHWYGLEWWYQTXMSRWEW STIVEXMRK EVIGEWLFEWIHJPS[WSRMRGPYHMRKLMWXSVMG HSREXMSRWI\TIVMIRGIVIGIMZIHERH SXLIVERHJEGXSVWGEWL JPS[WSFXEMRIHJVSQPSERWHSRSXQIIXXLIJMRERGMRKRIIHWWYGLEWXLIGEWLSYXJPS[WJSVSTIVEXMRKEGXMZMXMIWJMRERGMRKERHMRZIWXQIRXW XLEX-RXIVIWXJVSQJMRERGMEPMRZIWXQIRXWERHSXLIVMRGSQIJVSQMRZIWXQIRXWMWVIGSKRMWIHMRXLIMRGSQIWXEXIQIRXYRHIVSXLIVMRGSQIERHKEMRWEVI FIPMIZIH XS FI VIEWSREFPI YRHIV XLI GMVGYQWXERGIW XLI VIWYPXW SJ [LMGL JSVQ XLI FEWMW JSV QEOMRK NYHKQIRXW VIKEVHMRK XLI GEVV]MRK ZEPYIW SJ EWWIXW ERH PMEFMPMXMIW XLEX EVI XLEX EVI FIPMIZIH XS FI VIEWSREFPI YRHIV XLI GMVGYQWXERGIW XLI VIWYPXW SJ [LMGL JSVQ XLI FEWMW JSV QEOMRK NYHKQIRXW VIKEVHMRK XLI GEVV]MRK ZEPYIW SJ EWWIXW ERH PMEFMPMXMIW XLEX EVI RSX VIEHMP] ETTEVIRX JVSQ SXLIV WSYVGIW %GXYEP VIWYPXW QE] HMJJIV JVSQ XLIWI IWXMQEXIW -WWYIW MRZSPZMRK E LMKLIV HIKVII SJ NYHKQIRX SV GSQTPI\MX] SV [LIVI XLI EWWYQTXMSRW ERH RSX VIEHMP] ETTEVIRX JVSQ SXLIV WSYVGIW %GXYEP VIWYPXW QE] HMJJIV JVSQ XLIWI IWXMQEXIW -WWYIW MRZSPZMRK E LMKLIV HIKVII SJ NYHKQIRX SV GSQTPI\MX] SV [LIVI XLI EWWYQTXMSRW ERH 8LI*SYRHEXMSR WQEMRGSRXVEGXYEPSFPMKEXMSRWI\TSWIHXSXLMWX]TISJVMWOTIVXEMRXSXLIHSREXMSRWKVERXIHTYVWYERXXSXLIIWXEFPMWLIHTVSXSGSPW n) IWXMQEXIWEVIGSRWMHIVIHWMKRMJMGERXEVITVIWIRXIHMR2SXI'VMXMGEPEGGSYRXMRKIWXMQEXIWERHNYHKQIRXWMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWTransactions in foreign currency IWXMQEXIWEVIGSRWMHIVIHWMKRMJMGERXEVITVIWIRXIHMR2SXI'VMXMGEPEGGSYRXMRKIWXMQEXIWERHNYHKQIRXWMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXW

3.2 8VERWEGXMSRWRelevant accountingMR JSVIMKR policiesGYVVIRG] EVI GSRZIVXIH EX XLI I\GLERKI VEXIW EX XLI HEXI SJ XLI XVERWEGXMSR 1SRIXEV] EWWIXW ERH PMEFMPMXMIW HIRSQMREXIH MR JSVIMKR GYVVIRG] EVI GSRZIVXIH 3.2 Relevant accounting policies MRXS IYVSW EX XLI I\GLERKI VEXI MR JSVGI EX XLI FEPERGI WLIIX HEXI 8LI I\GLERKI HMJJIVIRGIW XLEX VIWYPX JVSQ XLMW GSRZIVWMSR EVI VIGSKRMWIH MR XLI MRGSQI WXEXIQIRX SJ XLI ]IEV MR a) [LMGLXLI]SGGYVProperty, plant & equipment a) Property, plant & equipment

4750 4751 ANNUAL REPORT 2020

EDP Foundation EDP Foundation EDP Foundation Notes to the Financial Statements for the financial year ended 31 December 2020 and 2019 Notes to the Financial Statements for EDPthe financialFoundation year ended 31 December 2020 and 2019 Notes to the Financial Statements for the financial year ended 31 December 2020 and 2019 Notes to the Financial Statements for the financial year ended 31 December 2020 and 2019

1. Identification of the entity 1. Identification of the entity 8LI )(4 *SYRHEXMSR QEREKIW MXW PMUYMHMX] VMWO F] SFXEMRMRK HSREXMSRW ERH WYFWMHMIW JVSQ XLI *SYRHIV )(4 7% ERH XLI RYGPIEV TS[IV KIRIVEXMSR GSQTERMIW )(4 (MWXVMFYMʡʝS 8LI MXIQ ,MWXSVMG ERH GYPXYVEP EWWIXW MRGPYHIW TVMZEXI EWWIXW GSVVIWTSRHMRK XS XLI 8INS 4S[IV 7XEXMSR ERH EVI GPEWWMJMIH EW LMWXSVMG LIVMXEKI TYVWYERX XS XLIMV VIWTIGXMZI TVSTIVX] 01 S.A. and EDP – Gestão da Produção de Energia, S.A.), which enable immediate access to liquidity needs. XE\ HSGYQIRXW REQIP] XLI 8INS 4S[IV 7XEXMSR PERH ERH FYMPHMRK ;MXL XLI XVERWMXMSR XS XLI 72')720 VIKYPEXMSR EW SJ XLI JMRERGMEP ]IEV XLIWI EWWIXW EVI RSX WYFNIGX XS *YRHEʡʝS )(4 0IKEP )RXMX] 2S MW E RSRTVSJMX MRWXMXYXMSR [MXL VIKMWXIVIH SJJMGI MR 0MWFSR JSYRHIH F] )(4 )RIVKMEW HI 4SVXYKEP 7% SR (IGIQFIV ERH [LMGL *YRHEʡʝS )(4 0IKEP )RXMX] 2S MW E RSRTVSJMX MRWXMXYXMSR [MXL VIKMWXIVIH SJJMGI MR 0MWFSR JSYRHIH F] )(4 )RIVKMEW HI 4SVXYKEP 7% SR (IGIQFIV ERH [LMGL HITVIGMEXMSR JSVQEPP]FIKERSTIVEXMRKMR1E]-X[EWVIGSKRMWIHEWE*SYRHEXMSRF]EHQMRMWXVEXMZISVHIV2SSJ3GXSFIVF]XLI1MRMWXV]SJXLI-RXIVMSV JSVQEPP]FIKERSTIVEXMRKMR1E]-X[EWVIGSKRMWIHEWE*SYRHEXMSRF]EHQMRMWXVEXMZISVHIV2SSJ3GXSFIVF]XLI1MRMWXV]SJXLI-RXIVMSV 6. Cash and bank deposits &] 4VMQI1MRMWXIVMEP SVHIV SJ (IGIQFIV TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ (IGIQFIV XLI *SYRHEXMSR [EW 3R&] 4VMQI1MRMWXIVMEP 2SZIQFIV SVHIVEW TEVXSJ SJ(IGIQFIVXLI GSRWXVYGXMSR TYFPMWLIHERH WYFWIUYIRXMR XLI 2EXMSREPSTIVEXMSR3JJMGMEPSJ XLI.SYVREP1YWIYQ (MʛVMSSJ %VXHE%VGLMXIGXYVI6ITʱ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ʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ MXW TYFPMG MRXIVIWX WXEXYW [LMGL [EW GSRJMVQIH F] EHQMRMWXVEXMZI SVHIV SJ *IFVYEV] TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S *SV XLI WEPI SJ XLI PERH ERH FYMPHMRKW XS XLI 0MWFSR 1YRMGMTEPMX] XLI )(4 *SYRHEXMSR VIGIMZIH IYVSW KIRIVEXMRK E GETMXEP KEMR MR XLI EQSYRX SJ IYVSW WII RSXI SJ8LIMXIQ *IFVYEV]Cash and8LI bankTYFPMG depositsMRXIVIWXVITVIWIRXWXLIJSPPS[MRKFEPERGIWWXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRK IJJIGX SJ *IFVYEV] 8LI TYFPMG MRXIVIWX WXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRK IJJIGX [LMGLMWFIMRKHIJIVVIHERHVIGSKRMWIHMRXLIMRGSQIWXEXIQIRXJSVXLIXIVQSJXLIGSRGIWWMSRJSVXLITVMZEXIYWISJXLIQYRMGMTEPTYFPMGHSQEMRMI]IEVW WMRGI*IFVYEV] WMRGI*IFVYEV] Dec 2020 Dec 2019 8LIDemand)(4 deposits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ʬWMXSWEW XS HIJIRH EDP’s LIVMXEKI 8LI )(4 Foundation’s WTIGMEP TYVTSWI MW XS TVSQSXI XLI WXYH] TVIWIVZEXMSR ERH HMWWIQMREXMSR SJ XLI GYPXYVEP WGMIRXMJMGERH XIGLRSPSKMGEP [IPPEWWIXWMRXLIEQSYRXSJIYVSW%QSVXMWEXMSRFIKERMR.ERYEV]EW XS HIJIRH EDP’s LIVMXEKI 8LI )(4 Foundation’s WTIGMEP TYVTSWI MW XS TVSQSXI XLI WXYH] TVIWIVZEXMSR ERH HMWWIQMREXMSR SJ XLI GYPXYVEP WGMIRXMJMG ERH XIGLRSPSKMGEP LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK]1-00)22-91&'4 LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK] &&:% 8LI WITEVEXMSR ERH WYFWIUYIRX WEPI SJ XLI TPSX FIPSRKMRK XS XLI )(4 Foundation’s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roperty, plant & equipment and Historic and Cultural Heritage Assets 8IGLRSPSK]MRREQIP]XLIVIWXEYVERXERHGEJʣWTEGI 2. Accounting reference for preparation of financial statements 2. Accounting reference for preparation of financial statements 8LMWMXIQMWEREP]WIHEWJSPPS[W 8LI MXIQ 3JJMGI IUYMTQIRX VIKMWXIVIH ER MRGVIEWI SJ IYVSW HYI XS XLI TYVGLEWI SJ EWWSVXIH EHQMRMWXVEXMZI ERH XIGLRSPSKMGEP IUYMTQIRX JSV IYVSW ERH XLI 2.1 Bases of presentation 2.1 TYVGLEWIBases of presentationSJ OMXGLIR IUYMTQIRX JSV XLI 1%%8 VIWXEYVERX WTEGI MR XLI EQSYRX SJ IYVSW EW [IPP EW HIGSVEXMZI IUYMTQIRX ERH SXLIVW JSV IYVSW %WWIX XVERWJIVW EVI Dec 2020 Dec 2019 QEMRP]HYIXSXLIGSRWXVYGXMSRSJERI[XMGOIXSJJMGIMRXLIEQSYRXSJIYVSW 05 Gross8LI )(4amountFoundation’s JMRERGMEP WXEXIQIRXW [IVI TVITEVIH MR EGGSVHERGI [MXL XLI 9RMJMIH %GGSYRXMRK 7]WXIQ JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 72')720 – 2SVQEPMÊʡʝS 8LI )(4 Foundation’s JMRERGMEP WXEXIQIRXW [IVI TVITEVIH MR EGGSVHERGI [MXL XLI 9RMJMIH %GGSYRXMRK 7]WXIQ JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 72')720 – 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGEHistoric and culturalTEVE EW heritage)RXMHEHIW assetsHS 7IXSV RʝS 0YGVEXMZS TYVWYERX XS XLI XIVQW MR (IGVII 0E[ % SJ 1EVGL [LMGL MW ER MRXIKVEP TEVX SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 'SRXEFMPʧWXMGE8LI MXIQ 8VERWTSVXTEVE EWIUYMTQIRX)RXMHEHIWTVIWIRXWHS 7IXSV ERʝS[VMXISJJ0YGVEXMZS ZEPYITYVWYERXSJ XS XLIIYVSWXIVQWVIKEVHMRKMR (IGVIIPIEWIH0E[ %ZILMGPIW [LSWISJ 1EVGLGSRXVEGX[LMGL[EWMWGSRGPYHIHER MRXIKVEPMRTEVXSJ XLI8LI9RMJMIHMXIQ &YMPHMRKW%GGSYRXMRKERH7]WXIQSXLIV 72'8INS4S[IV7XEXMSR0ERH– 7MWXIQE HI 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGE ETTVSZIH F] (IGVII 0E[ SJ .YP] FSXL EW EQIRHIH F] (IGVII 0E[ SJ .YRI 8LI72')720 MW VIKYPEXIHF] 72'GSRWXVYGXMSRWTVIWIRXWE[VMXISJJZEPYISJIYVSWVIKEVHMRKXLIHIVIGSKRMXMSRSJ:%8EQSYRXWXLEX[IVISZIVGETMXEPMWIH– 7MWXIQE HI 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGE ETTVSZIH F] (IGVII 0E[ SJ .YP] FSXL EW EQIRHIH F] (IGVII 0E[ SJ .YRI 8LI 72')720 MW VIKYPEXIH F] XLIJSPPS[MRKEGXW8INS4S[IV7XEXMSR&YMPHMRK XLIJSPPS[MRKEGXW Other property, plant & equipment %W EX (IGIQFIV XLI MXIQ 4VSTIVX] TPERX IUYMTQIRX MR TVSKVIWW IWWIRXMEPP] VIJIVW XS [SVOW XLEX EVI WXMPP SRKSMRK EX XLI )(4 Foundation’s 1YWIYQ SJ %VX %VGLMXIGXYVI 0ERHERHREXYVEPVIWSYVGIW 2SXMGI SJ .YP] – %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 2'6*)720 – 2SVQE 'SRXEFMPʧWXMGEI HI VIPEXS *MRERGIMVSTEVE ERH8IGLRSPSK] 2SXMGI SJ .YP] – %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 2'6*)720 – 2SVQE 'SRXEFMPʧWXMGE I HI VIPEXS *MRERGIMVS TEVE 06 EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS &YMPHMRKWERHSXLIVGSRWXVYGXMSRW EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS -&EWMGIUYMTQIRX Ordinance 218/2015, of 23 July – Specific Account Codes for Entities in the Non-Profit Sector (CC-ESNL – Código de Contas específico para as Entidades do Setor Não Lucrativo); --R Ordinance.YRI 218/2015,XLI )(4 of*SYRHEXMSR 23 July – SpecificWMKRIH EAccountGSRXVEGX Codes[MXL 4SPEVfor Entities6MZIV in0HE the JSVNon-ProfitXLI GSRGIWWMSR Sector (CC-ESNLSJ XLI GEJʣ – CódigoERH VIWXEYVERX de ContasWTEGI específico[LMGL paraLEH asEPVIEH] EntidadesFIIR doJSVIWIIR Setor NãoMR XLILucrativo);1%%8 -8VERWTSVXIUYMTQIRX Ordinance 220/2015, of 24 July – Financial Statement Models applicable to Entities in the Non-profit Sector. -PMGIRWMRKERHGSRGIWWMSRJSVTVMZEXIYWISJXLIQYRMGMTEPTYFPMGHSQEMRF]XLI0MWFSR1YRMGMTEP'SYRGMPMR Ordinance 220/2015, of 24 July – Financial Statement Models applicable to Entities in the Non-profit Sector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–Normas -RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW (NIC–Normas -RXIVTVIXMZI +YMHIPMRIW (NI–Normas -RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW (NIC–Normas Dec 2020 Dec 2019 -RXIVREGMSREMW HI 'SRXEFMPMHEHI EHSTXIH YRHIV 6IKYPEXMSR SJ XLI )YVSTIER 4EVPMEQIRX ERH SJ XLI 'SYRGMP SJ .YP] ERH MMM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW -RXIVREGMSREMW HI 'SRXEFMPMHEHI EHSTXIH YRHIV 6IKYPEXMSR SJ XLI )YVSTIER 4EVPMEQIRX ERH SJ XLI 'SYRGMP SJ .YP] ERH MMM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW Accumulated depreciation and impairment Gross Net Gross Net -%7 ERH-RXIVREXMSREP*MRERGMEP6ITSVXMRK7XERHEVHW -*67 MWWYIHF]XLI-%7& -%7 ERH-RXIVREXMSREP*MRERGMEP6ITSVXMRK7XERHEVHW -*67 MWWYIHF]XLI-%7& Depreciation / Depreciation / (ITVIGMEXMSRJSVXLI]IEV carrying carrying carrying carrying Impairment Impairment %GGYQYPEXIHHITVIGMEXMSRMRTVIZMSYW]IEVW amount amount amount amount 08 8LIJMRERGMEPWXEXIQIRXWXLEXMRGPYHIXLIFEPERGIWXEXIQIRXXLIWXEXIQIRXSJTVSJMXWERHPSWWIWF]EGXMZMX]XLIWXEXIQIRXSJGLERKIWMRIRHS[QIRXJYRHWXLIGEWLJPS[WXEXIQIRX 8LIJMRERGMEPWXEXIQIRXWXLEXMRGPYHIXLIFEPERGIWXEXIQIRXXLIWXEXIQIRXSJTVSJMXWERHPSWWIWF]EGXMZMX]XLIWXEXIQIRXSJGLERKIWMRIRHS[QIRXJYRHWXLIGEWLJPS[WXEXIQIRX ERH XLI ETTIRHM\ [IVI ETTVSZIH F] XLI Institution’s )\IGYXMZI &SEVH SR %TVMP EVI VIGSVHIH MR IYVSW ERH [IVI TVITEVIH SR E KSMRK GSRGIVR FEWMW ERH SR XLI EGGVYEP FEWMW ERH XLI ETTIRHM\ [IVI ETTVSZIH F] XLI Institution’s )\IGYXMZI &SEVH SR %TVMP EVI VIGSVHIH MR IYVSW ERH [IVI TVITEVIH SR E KSMRK GSRGIVR FEWMW ERH SR XLI EGGVYEP FEWMW Carrying amount MR [LMGL XLI MXIQW EVI VIGSKRMWIH EW EWWIXW PMEFMPMXMIW IRHS[QIRX JYRHW MRGSQI ERH GSWXW [LIR XLIWI WEXMWJ] XLI HIJMRMXMSRW ERH VIGSKRMXMSR GVMXIVME JSV XLSWI IPIQIRXW GSRXEMRIH MR0ERH[LMGL XLI MXIQW EVI VIGSKRMWIH EW EWWIXW PMEFMPMXMIW IRHS[QIRX JYRHWMRGSQI ERH GSWXW [LIR XLIWI WEXMWJ]XLI HIJMRMXMSRW ERH VIGSKRMXMSRGVMXIVME JSV XLSWI IPIQIRXW GSRXEMRIH MRXLIGSRGITXYEPJVEQI[SVOMRGSQTPMERGI[MXLXLIUYEPMXEXMZIGLEVEGXIVMWXMGWSJGSRWMWXIRG]SJTVIWIRXEXMSRQEXIVMEPMX]ERHEKKVIKEXMSRGSQTIRWEXMSRERHGSQTEVEFMPMX] MRXLIGSRGITXYEPJVEQI[SVOMRGSQTPMERGI[MXLXLIUYEPMXEXMZIGLEVEGXIVMWXMGWSJGSRWMWXIRG]SJTVIWIRXEXMSRQEXIVMEPMX]ERHEKKVIKEXMSRGSQTIRWEXMSRERHGSQTEVEFMPMX]8VERWTSVXIUYMTQIRX 8LIQSZIQIRXWMRTVSTIVX]TPERX IUYMTQIRXJSVXLI]IEVEVIEREP]WIHEWJSPPS[W report Balance in Divestments Write- Transfers Balance in 8LI EGGSYRXMRK TSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIVAdditions ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIH MR 8LI EGGSYRXMRK TSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIH MR XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIV Jan 2020 offs Corrections Dec 2020 XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIV8SXEPJYXYVIQMRMQYQTE]QIRXWJVSQGYVVIRXGSRXVEGXWEVITVIWIRXIHEWJSPPS[W Financial Gross amount: a) Land 2.2 NoHistoric derrogations and cultural were heritage made from assets the provisions in the SNC-ESNL. 2.2 No derrogations were made from the provisions in the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ther property, plant & equipment RI[EGGSYRXMRKTSPMGMIWEQIRHIHF]2SXMGI[MXLSYXWMKRMJMGERXMQTEGXSRXLIJMRERGMEPWXEXIQIRXWTVIWIRXIHLIVIMR 0ERHERHREXYVEPVIWSYVGIW Payments &YMPHMRKWERHSXLIVGSRWXVYGXMSRW There are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. There are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. 09 2.3 2.3 &EWMGIUYMTQIRX < 1 year >1 year & <5 years > 5 years 3. 8VERWTSVXIUYMTQIRXKey accounting policies 3. Key accounting policies 3JJMGIIUYMTQIRX 0ERH ;SVOWSJEVX8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[W 8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[W 3XLIVTVSTIVX]TPERX IUYMTQIRX b) Transport equipment (note 20) 3.1 4VSTIVX]TPERX IUYMTQIRXYRHIVGSRWXVYGXMSRMeasurement bases used in preparing the financial statements 3.1 Measurement bases used in preparing the financial statements Dec 2020 Dec 2019 8LI JMRERGMEP WXEXIQIRXW [IVI TVITEVIH YRHIV XLI LMWXSVMG GSWX TVMRGMTPI FEWIH SR XLI Institution’s EGGSYRXMRK VIGSVHW 0MEFMPMXMIW JVSQ HIJMRIH FIRIJMX FSRHW EVI VIGSKRMWIH EX XLI 8LI JMRERGMEP WXEXIQIRXW [IVI TVITEVIH YRHIV XLI LMWXSVMG GSWX TVMRGMTPI FEWIH SR XLI Institution’s EGGSYRXMRK VIGSVHW 0MEFMPMXMIW JVSQ HIJMRIH FIRIJMX FSRHW EVI VIGSKRMWIH EX XLI Capital in Interest on Outstanding Capital in Interest on Outstanding presentAccumulated value depreciationof the bond net and of impairment the fund’s assets. present value of the bond net of the fund’s assets. 8INS4S[IV7XEXMSRFYMPHMRK PERH debt debt rents debt debt rents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ncome tax 3XLIVTVSTIVX]TPERX IUYMTQIRX 3.2 Relevant accounting policies 3.2 8LIRelevant)(4 Foundation’saccounting policiesEGXMZMXMIW XS WYTTSVX GYPXYVEP VIGVIEXMSREP ERH WTSVXW MRMXMEXMZIW EVI I\IQTX JVSQ MRGSQI XE\ YRHIV EVXMGPI SJ XLI VIWTIGXMZI 'SHI *YVXLIVQSVI YRHIV XLI TVSZMWMSRW SJ TEVEKVETLW ERH SJ EVXMGPI SJ XLI MRGSQI XE\ 'SHI KVERXW ERH MRGVIEWIW MR [IEPXL SFXEMRIH JVII SJ GLEVKI ERH YWIH XS GEVV] SYX XLI WXEXYXSV] TYVTSWIW EVI EPWS I\IQTXJVSQMRGSQIXE\ a) CarryingProperty, amount plant & equipment a) Property, plant & equipment

47 5347 52 ANNUAL REPORT 2020

1. 8LIIdentification7YFHMVIGXSVEXI of the +IRIVEPentity SJ 8E\IW EHQMRMWXVEXMZI SVHIV F] WYFHIPIKEXMSR SJ (IGIQFIV VIGSKRMWIH XLI )(4 *SYRHEXMSR EW FIMRK I\IQTX JVSQ MRGSQI XE\ 13.1. IdentificationDeferrals of the entity YRHIV EVXMGPI G SJ XLI -RGSQI 8E\ 'SHI JVSQ (IGIQFIV XLI HEXI SR [LMGL XLI 4VMQI Minister’s EHQMRMWXVEXMZI SVHIV [EW TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMSHE6ITʱFPMGE 7IVMIW--2SVIGSKRMWMRKXLI)(4*SYRHEXMSREWE4YFPMG-RXIVIWX'SQTER] 01 *YRHEʡʝS )(4 0IKEP )RXMX] 2S MW E RSRTVSJMX MRWXMXYXMSR [MXL VIKMWXIVIH SJJMGI MR 0MWFSR JSYRHIH F] )(4 )RIVKMEW HI 4SVXYKEP 7% SR (IGIQFIV ERH [LMGL *YRHEʡʝS8LIMXIQDeferrals)(4 0IKEP & Accruals)RXMX] 2SMWEREP]WIHEWJSPPS[W MW E RSRTVSJMX MRWXMXYXMSR [MXL VIKMWXIVIH SJJMGI MR 0MWFSR JSYRHIH F] )(4 )RIVKMEW HI 4SVXYKEP 7% SR (IGIQFIV ERH [LMGL JSVQEPP]FIKERSTIVEXMRKMR1E]-X[EWVIGSKRMWIHEWE*SYRHEXMSRF]EHQMRMWXVEXMZISVHIV2SSJ3GXSFIVF]XLI1MRMWXV]SJXLI-RXIVMSV JSVQEPP]FIKERSTIVEXMRKMR1E]-X[EWVIGSKRMWIHEWE*SYRHEXMSRF]EHQMRMWXVEXMZISVHIV2SSJ3GXSFIVF]XLI1MRMWXV]SJXLI-RXIVMSVDec 2020 Dec 2019 -R SVHIV XS GSQTP] [MXL EVXMGPI SJ XLI 4VIEQFPI SJ XLI 6IKYPEXSV] *VEQI[SVO JSV *SYRHEXMSRW ETTVSZIH F] 0E[ SJ .YP] XLI )(4 *SYRHEXMSR VIUYIWXIH GSRJMVQEXMSR Deferrals - Assets SJ MXW TYFPMG MRXIVIWX WXEXYW [LMGL [EW GSRJMVQIH F] EHQMRMWXVEXMZI SVHIV SJ *IFVYEV] TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S &] 4VMQI1MRMWXIVMEP SVHIV SJ (IGIQFIV TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ (IGIQFIV XLI *SYRHEXMSR [EW &] 4VMQI1MRMWXIVMEPExpenses to be recognisedSVHIV SJ (IGIQFIV TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱ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ustomers SJ MXW TYFPMG MRXIVIWX WXEXYW [LMGL [EW GSRJMVQIH F] EHQMRMWXVEXMZI SVHIV SJ *IFVYEV] TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJDeferralsMXW TYFPMG - LiabilitiesMRXIVIWX WXEXYW [LMGL [EW GSRJMVQIH F] EHQMRMWXVEXMZI SVHIV SJ *IFVYEV] TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ *IFVYEV] 8LI TYFPMG MRXIVIWX WXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRK IJJIGX SJ *IFVYEV] 8LI TYFPMG MRXIVIWX WXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRK IJJIGX 8LIMXIQCustomersMWEREP]WIHEWJSPPS[W Income to be recognised WMRGI*IFVYEV] WMRGI*IFVYEV] Dec 2020 Dec 2019 3XLIVMRGSQIXSFIVIGSKRMWIH M Gross carrying amount: 8LI )(4 *SYRHEXMSR W KIRIVEP TYVTSWI MW XS TVSQSXI HIZIPST ERH WYTTSVX MRMXMEXMZIW SJ E WSGMEP GYPXYVEP WGMIRXMJMG XIGLRSPSKMGEP IHYGEXMSREP IRZMVSRQIRXEP ERH WTSVXW REXYVI EW 8LI )(4 *SYRHEXMSR W KIRIVEP TYVTSWI MW XS TVSQSXI HIZIPST ERH WYTTSVX MRMXMEXMZIW SJ E WSGMEP GYPXYVEP WGMIRXMJMG XIGLRSPSKMGEP IHYGEXMSREP IRZMVSRQIRXEP ERH WTSVXW REXYVI EW 03 Customer accounts [IPP EW XS HIJIRH EDP’s LIVMXEKI 8LI )(4 Foundation’s WTIGMEP TYVTSWI MW XS TVSQSXI XLI WXYH] TVIWIVZEXMSR ERH HMWWIQMREXMSR SJ XLI GYPXYVEP WGMIRXMJMG ERH XIGLRSPSKMGEP [IPP EW XS HIJIRH EDP’s LIVMXEKI 8LI )(4 Foundation’s WTIGMEP TYVTSWI MW XS TVSQSXI XLI WXYH] TVIWIVZEXMSR ERH HMWWIQMREXMSR SJ XLI GYPXYVEP WGMIRXMJMG ERH XIGLRSPSKMGEP LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK]+IRIVEP M LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK] M 8LIEQSYRXVIGSVHIHMRXLIMXIQ Other incometo be recognisedMWHIXEMPIHEWJSPPS[W WYVTPYW ZEPYI VIWYPXMRK JVSQ XLI WEPI MR SJ PERH JSV XLI GSRWXVYGXMSR SJ XLI 1YWIYQ SJ %VX %VGLMXIGXYVI ERH 8IGLRSPSK] XS XLI 0MWFSR 1YRMGMTEPMX] MR XLI EQSYRX SJ Accumulated impairment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et carrying amount: 2. Accounting reference for preparation of financial statements 2. VIGSKRMWIHMRXLIMRGSQIWXEXIQIRXEGGSVHMRKXSXLIYWIJYPPMJI RSXI Accounting reference for preparation of financial statements

M 8LI EQSYRX VIKEVHW XLI )(4 Foundation’s TEVXMGMTEXMSR MR XLI %GGIWW XS )RIVK] TVSNIGX MR 'EFMVM :MPPEKI MR %RKSPE MR TEVXRIVWLMT [MXL )-, – )RIVKME -RSZEʡʝS ,SPHMRK 7% E 2.1 Bases of presentation 2.114. FundsBases of presentation GSQTER] FEWIH MR %RKSPE 8LMW HIFX MW JYPP] TVSZMHIH JSV KMZIR MXW HSYFXJYP REXYVI ,S[IZIV TVSGIHYVIW VIQEMR MR TPEGI XS XV] ERH WIXXPI XLI SYXWXERHMRK HIFX 3J XLI RIX EQSYRX 05 VIGIMZEFPI8LI )(4 Foundation’sJVSQ GYWXSQIVWJMRERGMEPXLI EQSYRXWXEXIQIRXWSJ [IVI TVITEVIHIYVSW VIKEVHWMR EGGSVHERGIWTSRWSVWLMTW[MXL IWXEFPMWLIHXLI 9RMJMIH FIX[IIR%GGSYRXMRKXLI7]WXIQ)(4 *SYRHEXMSRJSV )RXMXMIWERHMRXLIXLIIRXMXMIW2SR4VSJMX2SZS7IGXSV:IVHI 72')720ERH )64 4SVXYKEP– 2SVQEPMÊʡʝSERH 8LI )(4 Foundation’s JMRERGMEP WXEXIQIRXW [IVI TVITEVIH MR EGGSVHERGI [MXL XLI 9RMJMIH %GGSYRXMRK 7]WXIQ JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 72')720 – 2SVQEPMÊʡʝS 8LI )(4 *SYRHEXMSR [EW GVIEXIH F] MXW *SYRHIV )(4 )RIVKMEW HI 4SVXYKEP 7% [MXL ER MRMXMEP )RHS[QIRX *YRH SJ IYVSW GSRWXMXYXIH XLVSYKL E GEWL EPPSGEXMSR MR XLI IYVSWVIKEVHMRKXLIGSRGIWWMSRSJXLIVIWXEYVERXERHGEJʣWTEGIWEX1%%8'SRXEFMPʧWXMGE TEVE EW )RXMHEHIW HS 7IXSV RʝS 0YGVEXMZS TYVWYERX XS XLI XIVQW MR (IGVII 0E[ % SJ 1EVGL [LMGL MW ER MRXIKVEP TEVX SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 'SRXEFMPʧWXMGE TEVE EW )RXMHEHIW HS 7IXSV RʝS 0YGVEXMZS TYVWYERX XS XLI XIVQW MR (IGVII 0E[ % SJ 1EVGL [LMGL MW ER MRXIKVEP TEVX SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ EQSYRXSJIYVSWERHEJMRERGMEPEPPSGEXMSRSJIYVSW%XXLIFEPERGIWLIIXHEXIXLIEQSYRXSJXLIEPPSGEXMSRWLEHFIIRTEMHMRJYPP 72' – 7MWXIQE HI 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGE ETTVSZIH F] (IGVII 0E[ SJ .YP] FSXL EW EQIRHIH F] (IGVII 0E[ SJ .YRI 8LI 72')720 MW VIKYPEXIH F] 72' – 7MWXIQE HI 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGE ETTVSZIH F] (IGVII 0E[ SJ .YP] FSXL EW EQIRHIH F] (IGVII 0E[ SJ .YRI 8LI 72')720 MW VIKYPEXIH F] XLIJSPPS[MRKEGXW8LIQSZIQIRXMRMQTEMVQIRXPSWWIWMWEREP]WIHEWJSPPS[W XLIJSPPS[MRKEGXW Pursuant to the Institution’s statutes, the Foundation’s assets are comprised essentially of goods donated or conceded by the Founder or third parties.

2SXMGI SJ .YP] – %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMXBalance7IGXSV 2'6*)720 in – 2SVQE 'SRXEFMPʧWXMGE I HI VIPEXS *MRERGIMVSBalance TEVEin 2SXMGI SJ .YP] – %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 2'6*)720 – 2SVQE 'SRXEFMPʧWXMGE I HI VIPEXS *MRERGIMVS TEVE Increases Reversals 8LMWMXIQMWHIXEMPIHEWJSPPS[W 06 EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS Jan 2020 Dec 2020 EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS -Impairment Ordinance 218/2015,losses of 23 July – Specific Account Codes for Entities in the Non-Profit Sector (CC-ESNL – Código de Contas específico para as Entidades do Setor Não Lucrativo); - Ordinance 218/2015, of 23 July – Specific Account Codes for Entities in the Non-Profit Sector (CC-ESNL – Código de Contas específico para as Entidades do Setor Não Lucrativo); - Ordinance+IRIVEPGYWXSQIVW 220/2015, of 24 July – Financial Statement Models applicable to Entities in the Non-profit Sector. - Ordinance 220/2015, of 24 July – Financial Statement Models applicable to Entities in the Non-profit Sector. Dec 2020 Dec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eserves XLI )RXMX] WLEPP YWI TVSZMHIH SRP] XS SZIVGSQI XLI WLSVXGSQMRK EHHMXMSREPP] ERH MR XLI JSPPS[MRK SVHIV M XLI %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW 2'6* 10. -RXIVTVIXMZIState and other+YMHIPMRIW public entities(NI–Normas -RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW (NIC–Normas -RXIVTVIXMZI +YMHIPMRIW (NI–Normas -RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW (NIC–Normas -RXIVREGMSREMW HI 'SRXEFMPMHEHI EHSTXIH YRHIV 6IKYPEXMSR SJ XLI )YVSTIER 4EVPMEQIRX ERH SJ XLI 'SYRGMP SJ .YP] ERH MMM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW -RXIVREGMSREMW8LIMXIQReservesHI 'SRXEFMPMHEHI MWEREP]WIHEWJSPPS[WEHSTXIH YRHIV 6IKYPEXMSR SJ XLI )YVSTIER 4EVPMEQIRX ERH SJ XLI 'SYRGMP SJ .YP] ERH MMM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW -%7 ERH-RXIVREXMSREP*MRERGMEP6ITSVXMRK7XERHEVHW -*67 MWWYIHF]XLI-%7&8LIMXIQState and other public entitiesMWEREP]WIHEWJSPPS[W -%7 ERH-RXIVREXMSREP*MRERGMEP6ITSVXMRK7XERHEVHW -*67 MWWYIHF]XLI-%7& Dec 2020 Dec 2019 Dec 2020 Dec 2019 08 8LIJMRERGMEPWXEXIQIRXWXLEXMRGPYHIXLIFEPERGIWXEXIQIRXXLIWXEXIQIRXSJTVSJMXWERHPSWWIWF]EGXMZMX]XLIWXEXIQIRXSJGLERKIWMRIRHS[QIRXJYRHWXLIGEWLJPS[WXEXIQIRX State and other public entities: 8LIJMRERGMEPWXEXIQIRXWXLEXMRGPYHIXLIFEPERGIWXEXIQIRXXLIWXEXIQIRXSJTVSJMXWERHPSWWIWF]EGXMZMX]XLIWXEXIQIRXSJGLERKIWMRIRHS[QIRXJYRHWXLIGEWLJPS[WXEXIQIRX*VII6IWIVZIW ERH XLI ETTIRHM\ [IVI ETTVSZIH F] XLI Institution’s )\IGYXMZI &SEVH SR %TVMP EVI VIGSVHIH MR IYVSW ERH [IVI TVITEVIH SR E KSMRK GSRGIVR FEWMW ERH SR XLI EGGVYEP FEWMW ERH XLI ETTIRHM\ [IVI ETTVSZIH F] XLI Institution’s )\IGYXMZI &SEVH SR %TVMP EVI VIGSVHIH MR IYVSW ERH [IVI TVITEVIH SR E KSMRK GSRGIVR FEWMW ERH SR XLI EGGVYEP FEWMW -RGSQIXE\HIHYGXMSRW 6IWIVZIW(SREXMSRW MR [LMGL XLI MXIQW EVI VIGSKRMWIH EW EWWIXW PMEFMPMXMIW IRHS[QIRX JYRHW MRGSQI ERH GSWXW [LIR XLIWI WEXMWJ] XLI HIJMRMXMSRW ERH VIGSKRMXMSR GVMXIVME JSV XLSWI IPIQIRXW GSRXEMRIH MR [LMGL XLI MXIQW EVI VIGSKRMWIH EW EWWIXW PMEFMPMXMIW IRHS[QIRX JYRHW MRGSQI ERH GSWXW [LIR XLIWI WEXMWJ] XLI HIJMRMXMSRW ERH VIGSKRMXMSR GVMXIVME JSV XLSWI IPIQIRXW GSRXEMRIH 7SGMEP7IGYVMX]'SRXVMFYXMSRW MRXLIGSRGITXYEPJVEQI[SVOMRGSQTPMERGI[MXLXLIUYEPMXEXMZIGLEVEGXIVMWXMGWSJGSRWMWXIRG]SJTVIWIRXEXMSRQEXIVMEPMX]ERHEKKVIKEXMSRGSQTIRWEXMSRERHGSQTEVEFMPMX] MRXLIGSRGITXYEPJVEQI[SVOMRGSQTPMERGI[MXLXLIUYEPMXEXMZIGLEVEGXIVMWXMGWSJGSRWMWXIRG]SJTVIWIRXEXMSRQEXIVMEPMX]ERHEKKVIKEXMSRGSQTIRWEXMSRERHGSQTEVEFMPMX] :EPYI%HHIH8E\ :%8

8LI MXIQ *VII VIWIVZIW VITVIWIRXW XLI EQSYRX MRZIWXIH F] XLI )(4 *SYRHEXMSR MR [SVOW SJ EVX IEGL ]IEV ERH XLI GVIEXMSR SJ E VIWIVZI JSV TVIWIVZEXMSR [SVOW SR XLI 8INS 4S[IV report 7XEXMSR[SVOWGEVVMIHSYXJSVXLIVIWXEYVERXMRJVEWXVYGXYVIERHGSQTPIXMSRSJXLI1%%8TEVOERHXSMQTPIQIRXGSQTPIQIRXEV]MRJVEWXVYGXYVIWMRXLI'EQTYWERH)(4*SYRHEXMSR 8LI EGGSYRXMRK TSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIH MR 8LI EGGSYRXMRK TSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIH MR 11. XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIVOther accounts receivable XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIV Financial

8LIMXIQOther accounts receivableMWEREP]WIHEWJSPPS[W 8LI MXIQ 6IWIVZIW – (SREXMSRW MRGPYHIH MR XLI Foundation’s IRHS[QIRX JYRHW VITVIWIRXW E WIX SJ ;SVOW SJ %VX SJJIVIH F] XLI EYXLSVW JSPPS[MRK I\LMFMXMSRW GEVVMIH SYX EX 1%%8 2.2 No derrogations were made from the provisions in the SNC-ESNL. 2.2 ERHHSREXMSRWVIGIMZIH[MXLMRXLIWGSTISJXLITEVXRIVWLMTEKVIIQIRX[MXL7EQWYRK8LIVI[EWRSGLERKIJVSQNo derrogations were made from the provisions in the SNC-ESNL.

8LI TIVMSH FIKMRRMRK SR .ERYEV] [EW XLI TIVMSH MR [LMGL XLI -RWXMXYXMSR ETTPMIH XLI EQIRHQIRXW MRXVSHYGIH F] (IGVII0E[ SJ .YRIDec 8LI2020-RWXMXYXMSRDecETTPMIH 2019XLI 8LI TIVMSH FIKMRRMRK SR .ERYEV] [EW XLI TIVMSH MR [LMGL XLI -RWXMXYXMSR ETTPMIH XLI EQIRHQIRXW MRXVSHYGIH F] (IGVII0E[ SJ .YRI 8LI -RWXMXYXMSR ETTPMIH XLI As of 1 January 2012, donated works of art are valued at the fair value attributed by the artist, at the insurance value or the value for which they were stated in the donator’s books. RI[EGGSYRXMRKTSPMGMIWEQIRHIHF]2SXMGI[MXLSYXWMKRMJMGERXMQTEGXSRXLIJMRERGMEPWXEXIQIRXWTVIWIRXIHLIVIMROther accounts receivable - current RI[EGGSYRXMRKTSPMGMIWEQIRHIHF]2SXMGI[MXLSYXWMKRMJMGERXMQTEGXSRXLIJMRERGMEPWXEXIQIRXWTVIWIRXIHLIVIMR Gross carrying amount: There%QSYRXWVIGIMZEFPIJVSQTIVWSRRIP are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. There are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. 09 2.3 2.3 It is the EDP Foundation’s intention to keep these works in its collection, on exhibit, and not to sell them to third parties. %QSYRXWVIGIMZEFPIJVSQXLI+VSYT RSXI 3. Key3XLIV accounting policies 3. Key accounting policies Net carrying amount: 8LI MRGVIEWI MR *VII 6IWIVZIW VIJIVW XS TVSJMX ETTVSTVMEXMSR MR MR XLI EQSYRX SJ IYVSW VIKEVHMRK [SVOW SJ EVX EGUYMVIH MR ERH IYVSW TIVXEMRMRK XS XLI 8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[W 8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[WRIIHXSMQTPIQIRXGSQTPIQIRXEV]MRJVEWXVYGXYVIWMRXLI'EQTYWERH)(4*SYRHEXMSRTYVWYERXXS1MRYXIW2SSJXLI)\IGYXMZI&SEVHSJ%TVMP Accruals - Active 3.1 Measurement3XLIV M bases used in preparing the financial statements 3.1 8LIQSZIQIRXMRXLIMXIQMeasurement bases used inReserves preparingHYVMRKXLI]IEVMWEREP]WIHEWJSPPS[W the financial statements 8LI JMRERGMEP WXEXIQIRXW [IVI TVITEVIH YRHIV XLI LMWXSVMG GSWX TVMRGMTPI FEWIH SR XLI Institution’s EGGSYRXMRK VIGSVHW 0MEFMPMXMIW JVSQ HIJMRIH FIRIJMX FSRHW EVI VIGSKRMWIH EX XLI 8LI JMRERGMEP WXEXIQIRXW [IVI TVITEVIH YRHIV XLI LMWXSVMG GSWX TVMRGMTPI FEWIH SR XLI Institution’s EGGSYRXMRK VIGSVHW 0MEFMPMXMIW JVSQ HIJMRIH FIRIJMX FSRHW EVI VIGSKRMWIH EX XLI Balance in Balance in present M 8LMWMXIQMRGPYHIWIYVSWERHIYVSWVIKEVHMRKEHSREXMSRERHEWTSRWSVWLMTVIWTIGXMZIP]EKVIIH[MXLXLIGSQTER]%8/IEVRI] value of the bond net of the fund’s assets. present value of the bond net of the fund’s assets. Increases Decreases Jan 2020 Dec 2020

12. 4VITEVEXMSRAllocated andSJ unrealisedXLI JMRERGMEP endowmentWXEXIQIRXW funds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llocated and unrealised endowment fundsMWEREP]WIHEWJSPPS[W RSX VIEHMP] ETTEVIRX JVSQ SXLIV WSYVGIW %GXYEP VIWYPXW QE] HMJJIV JVSQ XLIWI IWXMQEXIW -WWYIW MRZSPZMRK E LMKLIV HIKVII SJ NYHKQIRX SV GSQTPI\MX] SV [LIVI XLI EWWYQTXMSRW ERH RSX VIEHMP] ETTEVIRX JVSQ SXLIV WSYVGIW %GXYEP VIWYPXW QE] HMJJIV JVSQ XLIWI IWXMQEXIW -WWYIW MRZSPZMRK E LMKLIVHIKVII SJ NYHKQIRXSV GSQTPI\MX] SV [LIVI XLIEWWYQTXMSRWERH Dec 2020 Dec 2019 IWXMQEXIWEVIGSRWMHIVIHWMKRMJMGERXEVITVIWIRXIHMR2SXI'VMXMGEPEGGSYRXMRKIWXMQEXIWERHNYHKQIRXWMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXW IWXMQEXIWEVIGSRWMHIVIHWMKRMJMGERXEVITVIWIRXIHMR2SXI'VMXMGEPEGGSYRXMRKIWXMQEXIWERHNYHKQIRXWMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXW Allocated and unrealised endowment funds *SYRHIV )(47% 3.2 Relevant accounting policies 3.2 8LIVI[IVIRSHSREXMSRWMRRelevant accounting policies a) Property, plant & equipment a) Property, plant & equipment -R XLI MXIQ %PPSGEXIH ERH YRVIEPMWIH IRHS[QIRX JYRHW VIKEVHW XLI ZEPYI XS FI TEMH F] )(4 7% JSVIWIIR MR XLI EHHIRHYQ XS XLI 4PYVMERRYEP GSRXVEGX WMKRIH MR 2SZIQFIV ERH[LMGL[EWVIGIMZIHMR2SZIQFIVEWTPERRIH4VSTIVX] TPERX ERH IUYMTQIRX MW VIKMWXIVIH EX EGUYMWMXMSR GSWX [LMGL MRGPYHIW XLI TYVGLEWI TVMGI HYXMIW RSRVIJYRHEFPI TYVGLEWI XE\IW ERH ER] GSWXW HMVIGXP] EXXVMFYXEFPI XS FVMRK 4VSTIVX] TPERX ERH IUYMTQIRX MW VIKMWXIVIH EX EGUYMWMXMSR GSWX [LMGL MRGPYHIW XLI TYVGLEWI TVMGI HYXMIW RSRVIJYRHEFPI TYVGLEWI XE\IW ERH ER] GSWXW HMVIGXP] EXXVMFYXEFPI XS FVMRK XLIEWWIXXSXLIPSGEXMSRERHGSRHMXMSRRIGIWWEV]JSVMXXSFIGETEFPISJSTIVEXMRKMRXLIMRXIRHIHQERRIV XLIEWWIXXSXLIPSGEXMSRERHGSRHMXMSRRIGIWWEV]JSVMXXSFIGETEFPISJSTIVEXMRKMRXLIMRXIRHIHQERRIV

4754 4755 ANNUAL REPORT 2020

EDP Foundation EDP Foundation EDPEDP Foundation Foundation Notes to the Financial Statements for the financial year ended 31 December 2020 and 2019 Notes to the Financial Statements for the financial year ended 31 December 2020 and 2019 NotesNotes to tothe the Financial Financial Statements Statements for for the the financial financial year year ended ended 31 31 December December 2020 2020 and and 2019 2019

16. Retained earnings 1. Identification of the entity 1. Identification8LIHIGSQTSWMXMSRSJ of the entityActuarial gains and losses - PensionsMWEREP]WIHEWJSPPS[W 01 8LIMXIQRetained earningsMWEREP]WIHEWJSPPS[W *YRHEʡʝS )(4 0IKEP )RXMX] 2S MW E RSRTVSJMX MRWXMXYXMSR [MXL VIKMWXIVIH SJJMGI MR 0MWFSR JSYRHIH F] )(4 )RIVKMEW HI 4SVXYKEP 7% SR (IGIQFIV ERH [LMGL *YRHEʡʝS )(4 0IKEP )RXMX] 2S MW E RSRTVSJMX MRWXMXYXMSR [MXL VIKMWXIVIH SJJMGI MR 0MWFSR JSYRHIH F] )(4Pensions)RIVKMEW HI 4SVXYKEP 7% SR Medical (IGIQFIV Care & Other ERHBenefits[LMGL JSVQEPP]FIKERSTIVEXMRKMR1E]-X[EWVIGSKRMWIHEWE*SYRHEXMSRF]EHQMRMWXVEXMZISVHIV2SSJ3GXSFIVF]XLI1MRMWXV]SJXLI-RXIVMSV JSVQEPP]FIKERSTIVEXMRKMR1E]-X[EWVIGSKRMWIHEWE*SYRHEXMSRF]EHQMRMWXVEXMZISVHIV2SSJ3GXSFIVF]XLI1MRMWXV]SJXLI-RXIVMSV Dec 2020 Dec 2019 Dec 2020 Dec 2019 Dec 2020 Dec 2019 &] 4VMQI1MRMWXIVMEP SVHIV SJ (IGIQFIV TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ (IGIQFIV XLI *SYRHEXMSR [EW &] 4VMQI1MRMWXIVMEP SVHIV SJ (IGIQFIV TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE Euro'0007IVMIW -- 2SEuro'000 SJ (IGIQFIVEuro'000 XLI *SYRHEXMSREuro'000[EW HIGPEVIHETYFPMGMRXIVIWXIRXMX]YRHIV(IGVII0E[SJ2SZIQFIV6IXEMRIHIEVRMRKW HIGPEVIHETYFPMGMRXIVIWXIRXMX]YRHIV(IGVII0E[SJ2SZIQFIVActuarial gains and losses - Pensions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ʛVMSIYVSWHE 6ITʱFPMGE RIX SJ XLI ETTVSTVMEXMSR7IVMIW -- 2S JSV SJ MXW%GXYEVMEPKEMRWERHPSWWIWJVSQVIXYVRSREWWIXWTYFPMG MRXIVIWX WXEXYW [LMGL [EW GSRJMVQIH F] EHQMRMWXVEXMZI SVHIV SJ *IFVYEV] TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S JVIIVIWIVZIWMRXLIEQSYRXSJIYVSW RSXI ERHXLIIRXV]SJEGXYEVMEPKEMRWPSWWIWMRXLIEQSYRXSJIYVSW RSXI SJ *IFVYEV] 8LI TYFPMG MRXIVIWX WXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRK IJJIGX SJ *IFVYEV] 8LI TYFPMG MRXIVIWX WXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRKIJJIGX WMRGI*IFVYEV] WMRGI*IFVYEV] 17. Other changes in endowment funds - investment subsidies 8LI )(4 *SYRHEXMSR W KIRIVEP TYVTSWI MW XS TVSQSXI HIZIPST ERH WYTTSVX MRMXMEXMZIW SJ E WSGMEP GYPXYVEP WGMIRXMJMG XIGLRSPSKMGEP IHYGEXMSREP IRZMVSRQIRXEP ERH WTSVXW REXYVI EW 8LI )(4 *SYRHEXMSR W KIRIVEP TYVTSWI MW XS TVSQSXI HIZIPST ERH WYTTSVX MRMXMEXMZIW SJ E WSGMEP GYPXYVEP WGMIRXMJMG XIGLRSPSKMGEP IHYGEXMSREP IRZMVSRQIRXEP ERH WTSVXW REXYVI EW 03 8LIGSQTSRIRXWSJRIXGSWXVIGSKRMWIHMRXLITIVMSH[MXLXLIWITPERWEVIXLIJSPPS[MRK [IPP8LIMXIQEW XSOtherHIJIRH changesEDP’s inLIVMXEKI endowment8LI funds)(4 Foundation’s - investment subsidiesWTIGMEP TYVTSWIMWEREP]WIHEWJSPPS[WMW XS TVSQSXI XLI WXYH] TVIWIVZEXMSR ERH HMWWIQMREXMSR SJ XLI GYPXYVEP WGMIRXMJMG ERH XIGLRSPSKMGEP [IPP EW XS HIJIRH EDP’s LIVMXEKI 8LI )(4 Foundation’s WTIGMEP TYVTSWI MW XS TVSQSXI XLI WXYH] TVIWIVZEXMSR ERH HMWWIQMREXMSR SJ XLI GYPXYVEP WGMIRXMJMG ERH XIGLRSPSKMGEP LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK] LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK] Dec 2020 Dec 2019 Pensions Medical Care & Other Benefits 8LIInvestment)(4 *SYRHEXMSR subsidies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ecSJ 2020 IYVSWDec 20193R XLI &EPERGIDec7LIIX 2020HEXI XLI EQSYRXDec 2019SJ XLI EPPSGEXMSRWLEHFIIRTEMHMRJYPP)(44VSHYʡʝS7% EPPSGEXMSRWLEHFIIRTEMHMRJYPP Euro'000 Euro'000 Euro'000 Euro'000 04 )6IHIW7% Cost for the period 2. Accounting reference for preparation of financial statements 2. Accounting'YVVIRXWIVZMGIGSWXW reference for preparation of financial statements Compensation for depreciation Operational component RSXI - 9.000 6.000 14.168 2.1 Bases-RZIWXQIRXWYFWMHMIWHITVIGMEXMSR RSXI of presentation 2.1 Bases2IXMRXIVIWXSRRIXTIRWMSRPMEFMPMX] of presentation Other adjustments Financial component RSXI - 2.000 - 3.000 05 8LI )(4 Foundation’s JMRERGMEP WXEXIQIRXW [IVI TVITEVIH MR EGGSVHERGI [MXL XLI 9RMJMIH %GGSYRXMRK 7]WXIQ JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 72')720 – 2SVQEPMÊʡʝS 8LI Net)(4 costFoundation’s for the periodJMRERGMEP WXEXIQIRXW [IVI TVITEVIH MR EGGSVHERGI [MXL XLI 9RMJMIH %GGSYRXMRK 7]WXIQ JSV )RXMXMIW- MR XLI 2SR4VSJMX11.000 7IGXSV 72')7206.000 – 2SVQEPMÊʡʝS17.168 'SRXEFMPʧWXMGE TEVE EW )RXMHEHIW HS 7IXSV RʝS 0YGVEXMZS TYVWYERX XS XLI XIVQW MR (IGVII 0E[ % SJ 1EVGL [LMGL MW ER MRXIKVEP TEVX SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 'SRXEFMPʧWXMGE TEVE EW )RXMHEHIW HS 7IXSV RʝS 0YGVEXMZS TYVWYERX XS XLI XIVQW MR (IGVII 0E[ % SJ 1EVGL [LMGL MW ER MRXIKVEP TEVX SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' – 7MWXIQE HI 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGE ETTVSZIH F] (IGVII 0E[ SJ .YP] FSXL EW EQIRHIH F] (IGVII 0E[ SJ .YRI 8LI 72')720 MW VIKYPEXIH F] 72' – 7MWXIQE HI 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGE ETTVSZIH F] (IGVII 0E[ SJ .YP] FSXL EW EQIRHIH F] (IGVII 0E[ SJ .YRI 8LI 72')720 MW VIKYPEXIH F] XLIJSPPS[MRKEGXW XLIJSPPS[MRKEGXW -R JSPPS[MRK XLI JMREP EHHIRHYQ WMKRIH F] XLI )(4 *SYRHEXMSR )(4 7% )(4 4VSHYʡʝS ERH )6IHIW E JMREP ZEPYI SJ IYVSW [EW IWXEFPMWLIH JSV MRZIWXQIRX 8LIEZIVEKI[IMKLXIHPMJISJPMEFMPMXMIWJSVHIJMRIHFIRIJMXWMW]IEVW WYFWMHMIW 2SXMGI SJ .YP] – %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 2'6*)720 – 2SVQE 'SRXEFMPʧWXMGE I HI VIPEXS *MRERGIMVS TEVE 2SXMGI SJ .YP] – %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 2'6*)720 – 2SVQE 'SRXEFMPʧWXMGE I HI VIPEXS *MRERGIMVS TEVE %W EX (IGIQFIV JSPPS[MRK MQTPIQIRXEXMSR SJ XLI HIGMWMSR XS QEOI JMRERGMRK SJ XLI )(4 Group’s 4SWX)QTPS]QIRX ,IEPXLGEVI &IRIJMXW 4PER ERH XLI (IEXL &IRIJMXW 4PER 06 EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS 8LI MXIQ 'SQTIRWEXMSR JSV HITVIGMEXMSR VIKEVHW EQSVXMWEXMSR SJ XLI WYFWMH] KVERXIH XS XLI )(4 *SYRHEXMSR JSV GSRWXVYGXMSR SJ 1%%8 F] XLI GSQTERMIW )(4 7% )(4 4VSHYʡʝS EYXSRSQSYW XLI JMVWX GSRXVMFYXMSR [EW GEVVMIH SYX MR PMRI [MXL XLI JMRERGMRK TPER ETTVSZIH F] XLI 7YTIVZMWSV] %YXLSVMX] JSV -RWYVERGI ERH 4IRWMSR *YRHW %7* %YXSVMHEHI HI - Ordinance 218/2015, of 23 July – Specific Account Codes for Entities in the Non-Profit Sector (CC-ESNL – Código de Contas específico para as Entidades do Setor Não Lucrativo); - Ordinance 218/2015, of 23 July – Specific Account Codes for Entities in the Non-Profit Sector (CC-ESNL – Código de Contas específico para as Entidades do Setor Não Lucrativo); 7%ERH)6IHIW7%TYVWYERXXSXLIXIVQWSJXLIETTPMGEFPIEGGSYRXMRKTSPMG] 7YTIVZMWʝSHI7IKYVSWI*YRHSHI4IRWʮIW -RXLI)(4*SYRHEXMSRHMHRSXQEOIER]GSRXVMFYXMSRW XLSYWERHIYVSWEWHIJMRIHMRXLIJMRERGMRKTPER - Ordinance 220/2015, of 24 July – Financial Statement Models applicable to Entities in the Non-profit Sector. - Ordinance 220/2015, of 24 July – Financial Statement Models applicable to Entities in the Non-profit Sector.

18. Provisions Assumptions used to calculate the liabilities associated with pension benefits, medical care and others 2SX[MXLWXERHMRK XLI ETTPMGEXMSR SJ XLI 2'6*)720 MR EPP EWTIGXW GSRGIVRMRK VIGSKRMXMSR QIEWYVIQIRX ERH HMWGPSWYVI [LIRIZIV XLMW WXERHEVH HSIW RSX VIWTSRH XS TEVXMGYPEV 2SX[MXLWXERHMRK XLI ETTPMGEXMSR SJ XLI 2'6*)720 MR EPP EWTIGXW GSRGIVRMRK VIGSKRMXMSR QIEWYVIQIRX ERH HMWGPSWYVI [LIRIZIV XLMW WXERHEVH HSIW RSX VIWTSRH XS TEVXMGYPEV 07 EWTIGXW8LIMXIQHMVIGXIHProvisionsEXMWEREP]WIHEWJSPPS[WXLI )RXMX] VIKEVHMRK EGGSYRXMRK SV JMRERGMEP VITSVXMRK QEXXIVW SV WMXYEXMSRW SV WLSVXGSQMRKW XLEX EVI VIPIZERX XS XLI TVSZMWMSR SJ XVYI ERH ETTVSTVMEXI 8LIEWTIGXWEWWYQTXMSRWHMVIGXIHYWIHEX XLIF] XLI)RXMX]GSQTER]VIKEVHMRKXS GEPGYPEXIEGGSYRXMRKXLI SVPMEFMPMXMIWJMRERGMEPEWWSGMEXIHVITSVXMRK[MXLQEXXIVWIQTPS]IISV WMXYEXMSRWFIRIJMX TPERWSV WLSVXGSQMRKW[IVI YTHEXIHXLEXGSRWMHIVMRKEVI VIPIZERXXLI XSHIZIPSTQIRXWXLI TVSZMWMSRMR SJXLIXVYIJMRERGMEPERH ETTVSTVMEXIQEVOIXW MR MRJSVQEXMSR XLI )RXMX] WLEPP YWI TVSZMHIH SRP] XS SZIVGSQI XLI WLSVXGSQMRK EHHMXMSREPP] ERH MR XLI JSPPS[MRK SVHIV M XLI %GGSYRXMRK ERH *MRERGMEPDec6ITSVXMRK 2020 7XERHEVHWDec 2'6* 2019 ERHMRJSVQEXMSR XLI )RXMX] WLEPP YWI TVSZMHIH SRP] XS SZIVGSQI XLI WLSVXGSQMRK EHHMXMSREPP] ERH MR XLI JSPPS[MRK SVHIV M XLI %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW 2'6* -RXIVTVIXMZI +YMHIPMRIW (NI–Normas -RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW (NIC–Normas -RXIVTVIXMZI +YMHIPMRIW (NI–Normas -RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW (NIC–Normas -RXIVREGMSREMW4VSZMWMSRW HI 'SRXEFMPMHEHI EHSTXIH YRHIV 6IKYPEXMSR SJ XLI )YVSTIER 4EVPMEQIRX ERH SJ XLI 'SYRGMP SJ .YP] ERH MMM XLI -RXIVREXMSREP%GGSYRXMRK 7XERHEVHW -RXIVREGMSREMW HI 'SRXEFMPMHEHI EHSTXIH YRHIV 6IKYPEXMSR SJ XLI )YVSTIER 4EVPMEQIRX ERH SJ XLI 'SYRGMP SJ .YP] ERH MMM XLI -RXIVREXMSREPDec 2020%GGSYRXMRKDec7XERHEVHW 2019 -%7 ERH-RXIVREXMSREP*MRERGMEP6ITSVXMRK7XERHEVHW -*67 MWWYIHF]XLI-%7& -%7 ERH-RXIVREXMSREP*MRERGMEP6ITSVXMRK7XERHEVHW -*67 MWWYIHF]XLI-%7& Assumptions (MWGSYRXVEXI 08 8LIJMRERGMEPWXEXIQIRXWXLEXMRGPYHIXLIFEPERGIWXEXIQIRXXLIWXEXIQIRXSJTVSJMXWERHPSWWIWF]EGXMZMX]XLIWXEXIQIRXSJGLERKIWMRIRHS[QIRXJYRHWXLIGEWLJPS[WXEXIQIRX 8LIJMRERGMEPWXEXIQIRXWXLEXMRGPYHIXLIFEPERGIWXEXIQIRXXLIWXEXIQIRXSJTVSJMXWERHPSWWIWF]EGXMZMX]XLIWXEXIQIRXSJGLERKIWMRIRHS[QIRXJYRHWXLIGEWLJPS[WXEXIQIRX;EKIKVS[XLVEXI 19. Employee Benefits ERH XLI ETTIRHM\ [IVI ETTVSZIH F] XLI Institution’s )\IGYXMZI &SEVH SR %TVMP EVI VIGSVHIH MR IYVSW ERH [IVI TVITEVIH SR E KSMRK GSRGIVR FEWMW ERH SR XLI EGGVYEP FEWMW ERH XLI4IRWMSRKVS[XLVEXIETTIRHM\ [IVI ETTVSZIH F] XLI Institution’s )\IGYXMZI &SEVH SR %TVMP EVI VIGSVHIH MR IYVSW ERH [IVI TVITEVIH SR E KSMRK GSRGIVR FEWMW ERH SR XLI EGGVYEP FEWMW MR [LMGL XLI MXIQW EVI VIGSKRMWIH EW EWWIXW PMEFMPMXMIW IRHS[QIRX JYRHW MRGSQI ERH GSWXW [LIR XLIWI WEXMWJ] XLI HIJMRMXMSRW ERH VIGSKRMXMSR GVMXIVME JSV XLSWI IPIQIRXW GSRXEMRIH MR [LMGL7SGMEP7IGYVMX]WEPEV]VIZEPYEXMSRVEXIXLI MXIQW EVI VIGSKRMWIH EW EWWIXW PMEFMPMXMIW IRHS[QIRX JYRHW MRGSQI ERH GSWXW [LIR XLIWI WEXMWJ] XLI HIJMRMXMSRW ERH VIGSKRMXMSR GVMXIVME JSV XLSWI IPIQIRXW GSRXEMRIH MRXLIGSRGITXYEPJVEQI[SVOMRGSQTPMERGI[MXLXLIUYEPMXEXMZIGLEVEGXIVMWXMGWSJGSRWMWXIRG]SJTVIWIRXEXMSRQEXIVMEPMX]ERHEKKVIKEXMSRGSQTIRWEXMSRERHGSQTEVEFMPMX]8LIMXIQLiabilities for post-employment benefitsMWEREP]WIHEWJSPPS[W MRXLIGSRGITXYEPJVEQI[SVOMRGSQTPMERGI[MXLXLIUYEPMXEXMZIGLEVEGXIVMWXMGWSJGSRWMWXIRG]SJTVIWIRXEXMSRQEXIVMEPMX]ERHEKKVIKEXMSRGSQTIRWEXMSRERHGSQTEVEFMPMX]-RJPEXMSRVEXI %RRYEPKVS[XLVEXISJQIHMGEPGEVIGSWXW report Dec 2020 Dec 2019 %HQMRMWXVEXMZII\TIRWIWIWXMQEXIHTIVFIRIJMGMEV]TIV]IEV MR)YVSW 289 €/year (b) 297 €/year (c) 8LI EGGSYRXMRK TSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIH MR 8LI EGGSYRXMRK TSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP&SVR MRJSVQEXMSR&SVRTVIWIRXIH MR XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIV4VSZMWMSRWJSVTIRWMSRJYRHPMEFMPMXMIW XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIV 8: 8: Financial 1SVXEPMX]XEFPI 4VSZMWMSRWJSVPMEFMPMXMIWJSVLIEPXLGEVIERHSXLIVFIRIJMXW &SVR"! &SVR"! 2.2 No derrogations were made from the provisions in the SNC-ESNL. 2.2 No derrogations were made from the provisions in the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ec 2020 Dec 2019 E SJ XLI IPMKMFPI TSTYPEXMSR IQTPS]IIW [LS EVI MR E TSWMXMSR JSV IEVP] VIXMVIQIRX EGGSVHMRK XS XLI 'SPPIGXMZI 0EFSYV %KVIIQIRX ]IEVW SJ WIVZMGI ERH EKIH EX PIEWX There are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. There are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. 09 2.3 2.3 ]IEVWSV]IEVWSJWIVZMGIEXER]EKI 2SRGYVVIRX F VIHYGXMSRJSV VIHYGXMSRJSVERHERMRGVIEWIEJXIVXLEXHEXI 3. Key accounting policies 3. Key accounting policies 'YVVIRX G VIHYGXMSRJSV VIHYGXMSRJSV VIHYGXMSRJSVERHERMRGVIEWIEJXIVXLEXHEXI 8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[W 8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[W 8LI HMWGSYRX VEXIW YWIH JSV XLI TIRWMSR TPER [IVI WIPIGXIH FEWIH SR ER EREP]WMW SJ XLI VEXIW SJ VIXYVR EZEMPEFPI EX XLEX HEXI SJ XLI LMKLUYEPMX] GSVTSVEXI FSRHW 8LI FSRHW WIPIGXIH TVIWIRXIH E QEXYVMX] ERH VEXMRK XLEX [IVI GSRWMHIVIH ETTVSTVMEXI XEOMRK MRXS EGGSYRX XLI EQSYRX ERH TIVMSH SJ SGGYVVIRGI SJ XLI QSRIXEV] JPS[W EWWSGMEXIH [MXL XLI 3.1 Measurement8LIQSZIQIRXMRXLIGSQTER]JSV4VSZMWMSRWJSVPMEFMPMXMIWJSVIQTPS]IIFIRIJMXWMWEREP]WIHEWJSPPS[W bases used in preparing the financial statements 3.1FIRIJMXTE]QIRXWXSIQTPS]IIWMeasurement bases used in preparing the financial statements

8LI JMRERGMEP WXEXIQIRXW [IVI TVITEVIH YRHIV XLI LMWXSVMG GSWX TVMRGMTPI FEWIH SR XLI Institution’s EGGSYRXMRK VIGSVHW 0MEFMPMXMIW JVSQ HIJMRIH FIRIJMX FSRHW EVI VIGSKRMWIH EX XLI Composition8LI JMRERGMEP of theWXEXIQIRXW fund's portfolio[IVI TVITEVIH YRHIV XLI LMWXSVMG GSWX TVMRGMTPI FEWIH SR XLI Institution’s EGGSYRXMRK VIGSVHW 0MEFMPMXMIW JVSQ HIJMRIH FIRIJMX FSRHW EVI VIGSKRMWIH EX XLI present value of the bond net of the fund’s assets. Pensions Medical Care & Other Benefits present value of the bond net of the fund’s assets.

Dec 2020 Dec 2019 Dec 2020 Dec 2019 The composition verified in the fund’s portfolio for medical care and death grants in Portugal is analysed as follows: 4VITEVEXMSR SJ XLI JMRERGMEP WXEXIQIRXW EGGSVHMRK XS XLI 2'6*)720 VIUYMVIW XLI )\IGYXMZI &SEVH XS QEOI NYHKQIRXW IWXMQEXIW ERH EWWYQTXMSRW XLEX EJJIGX XLI ETTPMGEXMSR SJ XLI 4VITEVEXMSR SJ XLI JMRERGMEP WXEXIQIRXW EGGSVHMRK XS XLI 2'6*)720 VIUYMVIW XLI )\IGYXMZI &SEVH XS QEOI NYHKQIRXW IWXMQEXIW ERH EWWYQTXMSRW XLEX EJJIGX XLI ETTPMGEXMSR SJ XLI Euro'000 Euro'000 Euro'000 Euro'000 EGGSYRXMRK TSPMGMIW ERH XLI VITSVXIH ZEPYI SJ EWWIXW PMEFMPMXMIW MRGSQI ERH I\TIRWIW 8LI IWXMQEXIW ERH VIPEXIH EWWYQTXMSRW EVI FEWIH SR LMWXSVMG I\TIVMIRGI ERH SXLIV JEGXSVW EGGSYRXMRK TSPMGMIW ERH XLI VITSVXIH ZEPYI SJ EWWIXW PMEFMPMXMIW MRGSQI ERH I\TIRWIW 8LI IWXMQEXIW ERH VIPEXIHAssetEWWYQTXMSRW allocation byEVI natureFEWIH SR LMWXSVMG I\TIVMIRGI ERH SXLIV JEGXSVW XLEX EVI FIPMIZIH XS FI VIEWSREFPI YRHIV XLI GMVGYQWXERGIW XLI VIWYPXW SJ [LMGL JSVQ XLI FEWMW JSV QEOMRK NYHKQIRXW VIKEVHMRK XLI GEVV]MRK ZEPYIW SJ EWWIXW ERH PMEFMPMXMIW XLEX EVI XLEX EVI FIPMIZIH XS FI VIEWSREFPI YRHIV XLI GMVGYQWXERGIW XLI VIWYPXW SJ [LMGL JSVQ XLI FEWMW JSV QEOMRK NYHKQIRXW VIKEVHMRK XLI GEVV]MRK ZEPYIW SJ EWWIXW ERH PMEFMPMXMIW XLEX EVI Liquidity Bonds Shares Property Other Total RSXBalanceVIEHMP] ETTEVIRX at the beginningJVSQ SXLIV of theWSYVGIW year %GXYEP VIWYPXW QE] HMJJIV JVSQ XLIWI IWXMQEXIW -WWYIW MRZSPZMRK E LMKLIV HIKVII SJ NYHKQIRX SVGSQTPI\MX] SV [LIVIXLI EWWYQTXMSRWERH RSX VIEHMP] ETTEVIRX JVSQ SXLIV WSYVGIW %GXYEP VIWYPXW QE] HMJJIV JVSQ XLIWI IWXMQEXIW -WWYIW MRZSPZMRK E LMKLIV HIKVII SJ NYHKQIRX SV GSQTPI\MX] SV [LIVI XLI EWWYQTXMSRW ERH IWXMQEXIWEVIGSRWMHIVIHWMKRMJMGERXEVITVIWIRXIHMR2SXI'VMXMGEPEGGSYRXMRKIWXMQEXIWERHNYHKQIRXWMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXW)RHS[QIRXJSVXLI]IEV IWXMQEXIWEVIGSRWMHIVIHWMKRMJMGERXEVITVIWIRXIHMR2SXI'VMXMGEPEGGSYRXMRKIWXMQEXIWERHNYHKQIRXWMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXW% % % % % % 8VERWJIVWFIX[IIR+VSYTGSQTERMIW 3.2 Relevant%GXYEVMEP KEMRW PSWWIW accounting policies 3.2 Relevant accounting policies(IGIQFIV 7YVTPYW (IJMGMX *YRH*MRERGMRK RSXI (IGIQFIV a) Property,'SRXVMFYXMSRWXSXLI*YRH plant & equipment a) Property, plant & equipment The real rate of return of the pension fund’s assets in 2020 was positive at 2,12% (2019: positive at 9,71%). Balance at the end of the year 4VSTIVX] TPERX ERH IUYMTQIRX MW VIKMWXIVIH EX EGUYMWMXMSR GSWX [LMGL MRGPYHIW XLI TYVGLEWI TVMGI HYXMIW RSRVIJYRHEFPI TYVGLEWI XE\IW ERH ER] GSWXW HMVIGXP] EXXVMFYXEFPI XS FVMRK 4VSTIVX] TPERX ERH IUYMTQIRX MW VIKMWXIVIH EX EGUYMWMXMSR GSWX [LMGL MRGPYHIW XLI TYVGLEWI TVMGI HYXMIW RSRVIJYRHEFPI TYVGLEWI XE\IW ERH ER] GSWXW HMVIGXP] EXXVMFYXEFPI XS FVMRK XLIEWWIXXSXLIPSGEXMSRERHGSRHMXMSRRIGIWWEV]JSVMXXSFIGETEFPISJSTIVEXMRKMRXLIMRXIRHIHQERRIV -RERHRSGSRXVMFYXMSRW[IVIQEHIXSXLI4IRWMSR*YRHXLIEWWIXXSXLIPSGEXMSRERHGSRHMXMSRRIGIWWEV]JSVMXXSFIGETEFPISJSTIVEXMRKMRXLIMRXIRHIHQERRIV

4756 47 57 ANNUAL REPORT 2020

EDP Foundation EDP Foundation EDP Foundation EDP Foundation Notes to the Financial Statements for the financial year ended 31 December 2020 and 2019 NotesNotes to to the the Financial Financial Statements Statements for for the the financial financial year year ended ended 31 31 December December 2020 2020 and and 2019 2019 Notes to the Financial Statements for the financial year ended 31 December 2020 and 2019 1.EmployeeIdentification benefit of plans the entity 1. 8LIGSQTER] WPMEFMPMXMIWJSVQIHMGEPGEVIERHSXLIVFIRIJMXWERHVIWTIGXMZIGSZIVEKIEVIEREP]WIHEWJSPPS[WIdentification of the entity 01 Dec 2020 Dec 2019 8LI*YRHEʡʝS)(4 *SYRHEXMSR)(4 0IKEPKVERXW)RXMX]MXW2SIQTPS]IIWIMXLIVMW E RSRTVSJMXMR XLI JSVQMRWXMXYXMSRSJ HIJMRIH[MXLFIRIJMXVIKMWXIVIHTPERWSJJMGISV HIJMRIHMR 0MWFSRGSRXVMFYXMSRJSYRHIH F]TPERW)(4 )RIVKMEWWSQI TSWXIQTPS]QIRXHI 4SVXYKEP 7% SRFIRIJMXW (IGIQFIVREQIP]TPERWERHXLEX[LMGLTE] *YRHEʡʝ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rovision for Medical Care and other Benefits ERHIEVP]VIXMVIQIRXTIVMSHXLVSYKLQIGLERMWQWXLEXGSQTPIQIRXXLI2EXMSREP,IEPXL7IVZMGI 0MEFMPMXMIWEXXLIIRHSJXLI]IEV &] 4VMQI1MRMWXIVMEP SVHIV SJ (IGIQFIV TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ (IGIQFIV XLI *SYRHEXMSR [EW &] 4VMQI1MRMWXIVMEPProvision value atSVHIV the endSJ of (IGIQFIVthe year TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ (IGIQFIV XLI *SYRHEXMSR[EW ;ITVIWIRXFIPS[XLII\MWXMRKTPERW[MXLEFVMIJHIWGVMTXMSRSJXLIMVGLEVEGXIVMWXMGWEW[IPPEWXLIMVJMRERGMEPERHIGSRSQMGHEXEHIGPEVIHETYFPMGMRXIVIWXIRXMX]YRHIV(IGVII0E[SJ2SZIQFIV HIGPEVIHETYFPMGMRXIVIWXIRXMX]YRHIV(IGVII0E[SJ2SZIQFIV 8LIIZSPYXMSRSJXLITVIWIRXZEPYISJFSRHWJSVQIHMGEPGEVIERHSXLIVFIRIJMXWMWEREP]WIHEWJSPPS[W 02 I. Pension-R SVHIV XSPlansGSQTP] - Defined[MXL EVXMGPI Benefit TypeSJ XLI 4VIEQFPI SJ XLI 6IKYPEXSV] *VEQI[SVO JSV *SYRHEXMSRW ETTVSZIH F] 0E[ SJ .YP] XLI )(4 *SYRHEXMSR VIUYIWXIH GSRJMVQEXMSR -R SVHIV XS GSQTP] [MXL EVXMGPI SJ XLI 4VIEQFPI SJ XLI 6IKYPEXSV] *VEQI[SVO JSV *SYRHEXMSRW ETTVSZIH F] 0E[ SJ .YP] XLI )(4 *SYRHEXMSR VIUYIWXIH GSRJMVQEXMSR SJ MXW TYFPMG MRXIVIWX WXEXYW [LMGL [EW GSRJMVQIH F] EHQMRMWXVEXMZI SVHIV SJ *IFVYEV] TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ MXW TYFPMG MRXIVIWX WXEXYW [LMGL [EW GSRJMVQIH F] EHQMRMWXVEXMZI SVHIV SJ *IFVYEV] TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEPDec 2020.SYVREP (MʛVMS HEDec6ITʱFPMGE 2019 7IVMIWDez-- 20182S -R SJ4SVXYKEP *IFVYEV])(4 +VSYT8LI TYFPMGGSQTERMIWMRXIVIWXVIWYPXMRKWXEXYW [EWJVSQVIRI[IHXLI )(4JSVHIQIVKIVER EHHMXMSREPXLEXJMZIXSSO]IEVWTPEGIEWMRSJTYFPMGEXMSRLEZI ESJWSGMEPXLI EHQMRMWXVEXMZIFIRIJMX TPER TEVXMEPP]SVHIV 2SJMRERGIHXLVSYKLSJ E*IFVYEV]GPSWIH 4IRWMSR XEOMRK*YRHIJJIGXERH SJ Provision*IFVYEV] for8LI MedicalTYFPMG CareMRXIVIWX and otherWXEXYW Benefits[EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRK IJJIGX GSQTPIQIRXIHWMRGI*IFVYEV]F] E WTIGMJMG TVSZMWMSR 8LI 4IRWMSR *YRH MW QEREKIH F] ER I\XIVREP IRXMX] ERH MXW EWWIX QEREKIQIRX MW EPWS SYXWSYVGIH XS XLI fund’s I\XIVREP EWWIX QEREKIQIRX WMRGI*IFVYEV]0MEFMPMXMIWEXXLIIRHSJXLI]IEV IRXMXMIWERHMWEHIUYEXIP]TVSZMHIHXLVSYKLEWTIGMJMGTVSZMWMSR *YRH%WWIXWEXXLIIRHSJXLI]IEV 8LI )(4 *SYRHEXMSR W KIRIVEP TYVTSWI MW XS TVSQSXI HIZIPST ERH WYTTSVX MRMXMEXMZIW SJ E WSGMEP GYPXYVEP WGMIRXMJMG XIGLRSPSKMGEP IHYGEXMSREP IRZMVSRQIRXEP ERH WTSVXW REXYVI EW 8LI )(4 *SYRHEXMSR W KIRIVEP TYVTSWI MW XS TVSQSXI HIZIPST ERH WYTTSVX MRMXMEXMZIW SJ E WSGMEP GYPXYVEP WGMIRXMJMG XIGLRSPSKMGEP IHYGEXMSREP IRZMVSRQIRXEPERH WTSVXW REXYVIEW 03 8LIIZSPYXMSRSJXLITVIWIRXZEPYISJXLITIRWMSRFSRHERHXLIJEMVZEPYISJXLI*YRH WEWWSGMEXIHEWWIXWMWEREP]WIHEWJSPPS[W[IPP EW XS HIJIRH EDP’s LIVMXEKI 8LI )(4 Foundation’s WTIGMEP TYVTSWI MW XS TVSQSXI XLI WXYH] TVIWIVZEXMSR ERH HMWWIQMREXMSR SJ XLI GYPXYVEP WGMIRXMJMG ERH XIGLRSPSKMGEP [IPP EW XS HIJIRH EDP’s LIVMXEKI 8LI )(4 Foundation’s WTIGMEP TYVTSWI MW XS TVSQSXI XLI WXYH] TVIWIVZEXMSR ERH HMWWIQMREXMSR SJ XLI GYPXYVEP WGMIRXMJMG ERH XIGLRSPSKMGEP LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK] LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK])\TIVMIRGI EHNYWXQIRXW XLI IJJIGXW SJ HMJJIVIRGIW FIX[IIR XLI TVIZMSYW EGXYEVMEP EWWYQTXMSRW ERH [LEX LEW EGXYEPP] SGGYVVIH JSV XLI )(4 Foundation’s PMEFMPMXMIW [MXL QIHMGEP Dec 2020 Dec 2019 Dez 2018 GEVIERHSXLIVFIRIJMXWEVITVIWIRXIHEWJSPPS[W 8LIProvision)(4 *SYRHEXMSR for Pension[EW Plans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ec7LIIX 2020HEXI XLI EQSYRXDec 2019SJ XLI EPPSGEXMSRWLEHFIIRTEMHMRJYPP EPPSGEXMSRWLEHFIIRTEMHMRJYPP 04 *YRH%WWIXWEXXLIIRHSJXLI]IEV 7YVTPYW (IJMGMX *YRH*MRERGMRK Experience adjustments for the Plan’s liabilities 2. AccountingProvision for reference Pension for Plans preparation of financial statements 2. AccountingExperience reference adjustments for preparation for the Plan’s of financial assets statements

2.1 Bases of presentation 2.1 8LIIZSPYXMSRSJPMEFMPMXMIWJSVTEWXWIVZMGIWEWWSGMEXIH[MXLXLIQIHMGEPGEVITPERERHSXLIVFIRIJMXWMWEREP]WIHEWJSPPS[WBases of presentation )\TIVMIRGI EHNYWXQIRXW XLI IJJIGXW SJ HMJJIVIRGIW FIX[IIR XLI TVIZMSYW EGXYEVMEP EWWYQTXMSRW ERH [LEX LEW EGXYEPP] SGGYVVIH JSV XLI )(4 Foundation’s 4IRWMSR 4PER EVI Dec 2020 Dec 2019 05 8LI )(4 Foundation’s JMRERGMEP WXEXIQIRXW [IVI TVITEVIH MR EGGSVHERGI [MXL XLI 9RMJMIH %GGSYRXMRK 7]WXIQ JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 72')720 – 2SVQEPMÊʡʝS 8LI )(4 Foundation’s JMRERGMEP WXEXIQIRXW [IVI TVITEVIH MR EGGSVHERGI [MXL XLI 9RMJMIH %GGSYRXMRK 7]WXIQ JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 72')720 – 2SVQEPMÊʡʝS TVIWIRXIHEWJSPPS[W 'SRXEFMPʧWXMGE TEVE EW )RXMHEHIW HS 7IXSV RʝS 0YGVEXMZS TYVWYERX XS XLI XIVQW MR (IGVII 0E[ % SJ 1EVGL [LMGL MW ER MRXIKVEP TEVX SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 'SRXEFMPʧWXMGEEvolution of LiabilitiesTEVE EW )RXMHEHIW HS 7IXSV RʝS 0YGVEXMZS TYVWYERX XS XLI XIVQW MR (IGVII 0E[ % SJ 1EVGL [LMGL MW ER MRXIKVEP TEVX SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' – 7MWXIQE HI 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGE ETTVSZIH F] (IGVII 0E[ SJ .YP] FSXL EW EQIRHIH F] (IGVII 0E[ SJ .YRI 8LI 72')720 MW VIKYPEXIH F] 72'0MEFMPMXMIWEXXLIFIKMRRMRKSJXLI]IEV– 7MWXIQE HI 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGE ETTVSZIH F] (IGVII 0E[ SJ .YP] FSXL EW EQIRHIH F] (IGVII 0E[ SJ .YRI 8LI 72')720 MW VIKYPEXIHF] XLIJSPPS[MRKEGXW Dec 2020 Dec 2019 XLIJSPPS[MRKEGXW'YVVIRXWIVZMGIGSWXW 2IXMRXIVIWXSRRIXPMEFMPMXMIW[MXLQIHMGEPGEVITPERERHSXLIVFIRIJMXW Experience2SXMGI adjustmentsSJ for.YP] the– %GGSYRXMRKPlan’s liabilitiesERH *MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 2'6*)720 – 2SVQE 'SRXEFMPʧWXMGE I HI VIPEXS *MRERGIMVSTEVE %GXYEVMEP KEMRW PSWWIW2SXMGI SJ .YP] – %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 2'6*)720 – 2SVQE 'SRXEFMPʧWXMGE I HI VIPEXS *MRERGIMVS TEVE 06 EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS Experience adjustments for the Plan’s assets EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS 8VERWJIVFIX[IIR+VSYTGSQTERMIW - Ordinance 218/2015, of 23 July – Specific Account Codes for Entities in the Non-Profit Sector (CC-ESNL – Código de Contas específico para as Entidades do Setor Não Lucrativo); - LiabilitiesOrdinance at218/2015, the end of of the 23 yearJuly – Specific Account Codes for Entities in the Non-Profit Sector (CC-ESNL – Código de Contas específico para as Entidades do Setor Não Lucrativo); %WEX(IGIQFIVERHPMEFMPMXMIWJSVTEWXWIVZMGIWEWWSGMEXIH[MXLXLIWITIRWMSRTPERW[IVIEWJSPPS[W- Ordinance 220/2015, of 24 July – Financial Statement Models applicable to Entities in the Non-profit Sector. - Ordinance 220/2015, of 24 July – Financial Statement Models applicable to Entities in the Non-profit Sector.

Dec 2020 Dec 2019 Liabilities from the Medical Care Plan are recognised in the EDP Foundation’s accounts through provisions that fully cover the liabilities, as presented above. Evolution2SX[MXLWXERHMRK of Liabilities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–Normas -RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW (NIC–Normas -RXIVTVIXMZI +YMHIPMRIW (NI–Normas -RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRKDec 20207XERHEVHW (NIC–NormasDec 2019 %GXYEVMEP KEMRW PSWWIW-RXIVREGMSREMW HI 'SRXEFMPMHEHI EHSTXIH YRHIV 6IKYPEXMSR SJ XLI )YVSTIER 4EVPMEQIRX ERH SJ XLI 'SYRGMP SJ .YP] ERH MMM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW -RXIVREGMSREMWFunds HI 'SRXEFMPMHEHI EHSTXIH YRHIV 6IKYPEXMSR SJ XLI )YVSTIER 4EVPMEQIRX ERH SJ XLI 'SYRGMP SJ .YP] ERH MMM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW 8VERWJIVFIX[IIR+VSYTGSQTERMIW -%7 ERH-RXIVREXMSREP*MRERGMEP6ITSVXMRK7XERHEVHW -*67 MWWYIHF]XLI-%7& -%7 ERH-RXIVREXMSREP*MRERGMEP6ITSVXMRK7XERHEVHW -*67 MWWYIHF]XLI-%7&%WWIXZEPYIEXXLIFIKMRRMRKSJXLI]IEV Liabilities at the end of the year 'SRXVMFYXMSRWXSXLI*YRH 08 8LIJMRERGMEPWXEXIQIRXWXLEXMRGPYHIXLIFEPERGIWXEXIQIRXXLIWXEXIQIRXSJTVSJMXWERHPSWWIWF]EGXMZMX]XLIWXEXIQIRXSJGLERKIWMRIRHS[QIRXJYRHWXLIGEWLJPS[WXEXIQIRX 8LIJMRERGMEPWXEXIQIRXWXLEXMRGPYHIXLIFEPERGIWXEXIQIRXXLIWXEXIQIRXSJTVSJMXWERHPSWWIWF]EGXMZMX]XLIWXEXIQIRXSJGLERKIWMRIRHS[QIRXJYRHWXLIGEWLJPS[WXEXIQIRX%GXYEVMEPKEMRW PSWWIW ERH XLI ETTIRHM\ [IVI ETTVSZIH F] XLI Institution’s )\IGYXMZI &SEVH SR %TVMP EVI VIGSVHIH MR IYVSW ERH [IVI TVITEVIH SR E KSMRK GSRGIVR FEWMW ERH SR XLI EGGVYEP FEWMW ERH XLI ETTIRHM\ [IVI ETTVSZIH F] XLI Institution’s )\IGYXMZI &SEVH SR %TVMP EVI VIGSVHIH MR IYVSW ERH [IVI TVITEVIH SR E KSMRK GSRGIVR FEWMW ERH SR XLI EGGVYEP FEWMW 3XLIVZEVMEXMSRW MR [LMGL XLI MXIQW EVI VIGSKRMWIH EW EWWIXW PMEFMPMXMIW IRHS[QIRX JYRHW MRGSQI ERH GSWXW [LIR XLIWI WEXMWJ] XLI HIJMRMXMSRW ERH VIGSKRMXMSR GVMXIVME JSV XLSWI IPIQIRXW GSRXEMRIH MR [LMGL XLI MXIQW EVI VIGSKRMWIH EW EWWIXW PMEFMPMXMIW IRHS[QIRX JYRHW MRGSQI ERH GSWXW [LIR XLIWI WEXMWJ] XLI HIJMRMXMSRW ERH VIGSKRMXMSR GVMXIVME JSV XLSWI IPIQIRXW GSRXEMRIH %WWIXZEPYIEXXLIIRHSJXLI]IEV 8LIIZSPYXMSRSJXLI4IRWMSR*YRHEWWIXW[EWEWJSPPS[WMRXLIGSRGITXYEPJVEQI[SVOMRGSQTPMERGI[MXLXLIUYEPMXEXMZIGLEVEGXIVMWXMGWSJGSRWMWXIRG]SJTVIWIRXEXMSRQEXIVMEPMX]ERHEKKVIKEXMSRGSQTIRWEXMSRERHGSQTEVEFMPMX] MRXLIGSRGITXYEPJVEQI[SVOMRGSQTPMERGI[MXLXLIUYEPMXEXMZIGLEVEGXIVMWXMGWSJGSRWMWXIRG]SJTVIWIRXEXMSRQEXIVMEPMX]ERHEKKVIKEXMSRGSQTIRWEXMSRERHGSQTEVEFMPMX] Dec 2020 Dec 2019 Pension Funds report 8LI*EMVZEPYISJXLIEWWIXWEXXLIFIKMRRMRKSJXLI]IEVEGGSYRXMRK TSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIHMR 20. 8LIOtherEGGSYRXMRK accounts payableTSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIH MR XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIV2IXMRXIVIWXSRTIRWMSRTPEREWWIXW XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIV Financial %GXYEVMEPKEMRW PSWWIW 8LIMXIQOther accounts payableMWEREP]WIHEWJSPPS[W 2.2 No3XLIVZEVMEXMSRW derrogations were made from the provisions in the SNC-ESNL. 2.2 No derrogations were made from the provisions in the SNC-ESNL. Dec 2020 Dec 2019 Asset value at the end of the year Other accounts payable - Non-current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ension Plans - Defined Contribution Type There are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. There are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. 09 2.3 2.3 Other accounts payable - Current As a signatory to the EDP Group’s Collective Labour Agreement, the EDP Foundation has social benefit plans that are complementary to those granted by the Social Welfare System *YRHMRKSFXEMRIH M 3. Key accounting policies 3. Key accounting policies XSGSQTER]IQTPS]IIWSRE(IJMRIH'SRXVMFYXMSRFEWMWXLIVIF]QEOMRKEGSRXVMFYXMSRXSXLIWITPERWIEGL]IEVGEPGYPEXIHEGGSVHMRKXSXLIVYPIWIWXEFPMWLIHMRIEGLGEWI 'VIHMXSVW%QSYRXWTE]EFPI*MRERGIPIEWIPERH MM 'VIHMXSVWF]EGGVYIHI\TIRWIW MMM 8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[W 8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[W ,SPMHE]TE]LSPMHE]WYFWMH]ERHSXLIVIQTPS]III\TIRWIW MZ III. Liability plans for medical care and other benefits – Defined Benefit Type 'VIHMXSVWJSVTVSZMWMSRSJSXLIVKSSHWERHWIVZMGIW Z 3.1 Measurement bases used in preparing the financial statements 3.1 Measurement bases used in preparing the financial statements 3XLIVGVIHMXSVW ZM 8LI )(4 *SYRHEXMSR LEW E HIJMRIH FIRIJMX 1IHMGEP 'EVI ERH (IEXL +VERX 4PER TEVXMEPP] JMRERGIH XLVSYKL E GPSWIH TIRWMSR JYRH ERH WYTTPIQIRXIH F] E WTIGMJMG TVSZMWMSR 6IKEVHMRK8LI JMRERGMEPXLI VIQEMRMRKWXEXIQIRXWHIJMRIH[IVI TVITEVIHFIRIJMX TPERWYRHIVXLIXLIPMEFMPMXMIWLMWXSVMG GSWXEVI JYPP]TVMRGMTPIJMRERGIHFEWIHXLVSYKLSR XLIERInstitution’sEGGSYRXMRKEGGSYRXMRKTVSZMWMSRVIGSVHW*YVXLIVQSVI0MEFMPMXMIWXLI JVSQ)(4 *SYRHEXMSRHIJMRIH FIRIJMXEWWMKRWFSRHWSXLIVEVI VIGSKRMWIHFIRIJMXW FIEVMRKEX XLI 8LI JMRERGMEP WXEXIQIRXW [IVI TVITEVIH YRHIV XLI LMWXSVMG GSWX TVMRGMTPI FEWIH SR XLI Institution’s EGGSYRXMRK VIGSVHW 0MEFMPMXMIW JVSQ HIJMRIH FIRIJMX FSRHW EVI VIGSKRMWIH EX XLI XLIpresentGSWXW EVMWMRKvalue ofJVSQ the bondPMEFMPMXMIW net ofJSV theTIRWMSR fund’s assets.WYTTPIQIRXW JSV HMWEFMPMX] WYVZMZSVWLMT PMJI MRWYVERGI FSRYWIW JSV WIRMSVMX] ERH VIXMVIQIRX HMWGSYRXW MR IPIGXVMGMX] ERH KEW TVMGIW present value of the bond net of the fund’s assets. EQSRKSXLIVW 4VITEVEXMSR SJ XLI JMRERGMEP WXEXIQIRXW EGGSVHMRK XS XLI 2'6*)720 VIUYMVIW XLI )\IGYXMZI &SEVH XS QEOI NYHKQIRXW IWXMQEXIW ERH EWWYQTXMSRW XLEX EJJIGX XLI ETTPMGEXMSR SJ XLI 4VITEVEXMSR M 8LIEQSYRXMRXLIMXIQ*YRHMRKSFXEMRIHMRTIVXEMRIHXSPMEFMPMXMIWJSVJMRERGIPIEWIWXVERWTSVXIUYMTQIRX RSXI [LMGL[IVII\XMRKYMWLIHMR SJ XLI JMRERGMEP WXEXIQIRXW EGGSVHMRK XS XLI 2'6*)720 VIUYMVIW XLI )\IGYXMZI &SEVH XS QEOI NYHKQIRXW IWXMQEXIW ERH EWWYQTXMSRW XLEX EJJIGX XLI ETTPMGEXMSR SJ XLI %WEX(IGIQFIVERHXLIRYQFIVSJTEVXMGMTERXWGSZIVIHF]QIHMGEPGEVITPERWERHSXLIVFIRIJMXW[EWEWJSPPS[WEGGSYRXMRK TSPMGMIW ERH XLI VITSVXIH ZEPYI SJ EWWIXW PMEFMPMXMIW MRGSQI ERH I\TIRWIW 8LI IWXMQEXIW ERH VIPEXIH EWWYQTXMSRW EVI FEWIH SR LMWXSVMG I\TIVMIRGI ERH SXLIV JEGXSVW EGGSYRXMRK TSPMGMIW ERH XLI VITSVXIH ZEPYI SJ EWWIXW PMEFMPMXMIW MRGSQI ERH I\TIRWIW 8LI IWXMQEXIW ERH VIPEXIH EWWYQTXMSRW EVI FEWIH SR LMWXSVMG I\TIVMIRGI ERH SXLIV JEGXSVW XLEX EVI FIPMIZIH XS FI VIEWSREFPI YRHIV XLI GMVGYQWXERGIW XLI VIWYPXW SJ [LMGL JSVQ XLI FEWMW JSV QEOMRK NYHKQIRXW VIKEVHMRK XLI GEVV]MRK ZEPYIW SJ EWWIXW ERH PMEFMPMXMIW XLEX EVI XLEX MM 8LMWMXIQTIVXEMRWIRXMVIP]XSXLISYXWXERHMRKVIRXWJSVXLIGSRGIWWMSRSJTVMZEXIYWISJXLIQYRMGMTEPTYFPMGHSQEMR RSXI EVI FIPMIZIH XS FI VIEWSREFPI YRHIV XLI GMVGYQWXERGIW XLI VIWYPXW SJ [LMGL JSVQ XLI FEWMW JSV QEOMRK NYHKQIRXW VIKEVHMRK XLI GEVV]MRK ZEPYIW SJ EWWIXW ERH PMEFMPMXMIW XLEX EVI RSX VIEHMP] ETTEVIRX JVSQ SXLIV WSYVGIW %GXYEP VIWYPXW QE] HMJJIV JVSQ XLIWI IWXMQEXIW -WWYIW2020 MRZSPZMRK E LMKLIV2019HIKVII SJ NYHKQIRX SV GSQTPI\MX] SV [LIVI XLI EWWYQTXMSRW ERH RSX VIEHMP] ETTEVIRX JVSQ SXLIV WSYVGIW %GXYEP VIWYPXW QE] HMJJIV JVSQ XLIWI IWXMQEXIW -WWYIW MRZSPZMRK E LMKLIV HIKVII SJ NYHKQIRX SV GSQTPI\MX] SV [LIVI XLI EWWYQTXMSRW ERH IWXMQEXIWEVIGSRWMHIVIHWMKRMJMGERXEVITVIWIRXIHMR2SXI'VMXMGEPEGGSYRXMRKIWXMQEXIWERHNYHKQIRXWMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXW IWXMQEXIWEVIGSRWMHIVIHWMKRMJMGERXEVITVIWIRXIHMR2SXI'VMXMGEPEGGSYRXMRKIWXMQEXIWERHNYHKQIRXWMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXW 2YQFIVSJTEVXMGMTERXW MMM 8LI MXIQ 4E]EFPIW JVSQ EGGVYIH I\TIRWIW MRGPYHIW XLI EGGVYEP SJ HSREXMSRW KVERXIH F] XLI )(4 *SYRHEXMSR MR XLI EQSYRX SJ IYVSW IYVSW ERH XLI 6IXMVIIWERH4IRWMSRIVW EGGVYEPSJWIVZMGIWVIRHIVIHRSX]IXMRZSMGIHF]XLMVHTEVXMIWMRXLIEQSYRXSJIYVSW IYVSW 3.2 Relevant accounting policies7XEJJMREGXMZIIQTPS]QIRX 3.2 Relevant accounting policies MZ 8LI MXIQ ,SPMHE] TE] LSPMHE] WYFWMH] ERH SXLIV IQTPS]II I\TIRWIW MRGPYHIW XLI HMWGSYRX JVSQ EGGVYIH PMEFMPMXMIW JVSQ LSPMHE] TE] ERH LSPMHE] WYFWMHMIW MR XLI EQSYRX SJ a) Property, plant & equipment a) IYVSW IYVSW ERHXLIEGGVYEPSJZEVMEFPITE]QIRXWJSVXSFITEMHMRMRXLIEQSYRXSJIYVSW IYVSW Property, plant & equipment

47 4759 58 ANNUAL REPORT 2020

1. Z Identification8LMW MXIQ ofTIVXEMRW the entityXS XLI EQSYRXW TE]EFPI XS GSQTERMIW MR XLI )(4 +VSYT VIKEVHMRK XLI XVERWJIV SJ PMEFMPMXMIW JSV VIXMVIQIRX TIRWMSRW ERH SXLIV FIRIJMXW JSV IQTPS]IIW 1. IdentificationEDP Solidarity of the Programme entity – Heroes in Masks XVERWJIVVIHJVSQXLI)(4*SYRHEXMSR %6'3PMWFSE 01 *YRHEʡʝS )(4 0IKEP )RXMX] 2S MW E RSRTVSJMX MRWXMXYXMSR [MXL VIKMWXIVIH SJJMGI MR 0MWFSR JSYRHIH F] )(4 )RIVKMEW HI 4SVXYKEP 7% SR (IGIQFIV ERH [LMGL *YRHEʡʝS)PIGXVE1EKE^MRI)(4 0IKEP )RXMX] 2S MW E RSRTVSJMX MRWXMXYXMSR [MXL VIKMWXIVIH SJJMGI MR 0MWFSR JSYRHIH F] )(4 )RIVKMEW HI 4SVXYKEP 7% SR (IGIQFIV ERH [LMGL )(47% IYVSW JSVQEPP]FIKERSTIVEXMRKMR1E]-X[EWVIGSKRMWIHEWE*SYRHEXMSRF]EHQMRMWXVEXMZISVHIV2SSJ3GXSFIVF]XLI1MRMWXV]SJXLI-RXIVMSV JSVQEPP]FIKERSTIVEXMRKMR1E]-X[EWVIGSKRMWIHEWE*SYRHEXMSRF]EHQMRMWXVEXMZISVHIV2SSJ3GXSFIVF]XLI1MRMWXV]SJXLI-RXIVMSV)\LMFMXMSR1IPERGSPME4VSKVEQEHE Programmed Melancholy F]+EFVMIP%FVERXIW )(44VSHYʡʝS IYVSW )\LMFMXMSR9RLEVMEW6EXʬVMGEW Rhatorical Nails F]:SR'EPLEY &] 4VMQI1MRMWXIVMEP SVHIV SJ (IGIQFIV TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ (IGIQFIV XLI *SYRHEXMSR [EW &] )\LMFMXMSR&EPPEHSJ8SHE]F]%RHVʣ'ITIHE4VMQI1MRMWXIVMEP SVHIV SJ (IGIQFIV TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ (IGIQFIV XLI *SYRHEXMSR [EW HIGPEVIHETYFPMGMRXIVIWXIRXMX]YRHIV(IGVII0E[SJ2SZIQFIV Z 8LMWMXIQVIJIVWTVIHSQMRERXP]XSXLIEQSYRXTEMHXS)(4'SQIVGMEPVIKEVHMRKHMWGSYRXIHXEVMJJZEPYIWMRERHMRXLIEQSYRXSJIYVSW HIGPEVIHETYFPMGMRXIVIWXIRXMX]YRHIV(IGVII0E[SJ2SZIQFIV'SQQIQSVEXMZI)\LMFMXMSRJSVXLIXL%RRMZIVWEV]SJXLI)(4*SYRHEXMSR2I[%VXMWXW%[EVH9Q3ʛWMWES)RXEVHIGIV An Oasis at Sunset 1%%81SHI4VSKVEQQI 02 21. -RSuppliersSVHIV XS GSQTP] [MXL EVXMGPI SJ XLI 4VIEQFPI SJ XLI 6IKYPEXSV] *VEQI[SVO JSV *SYRHEXMSRW ETTVSZIH F] 0E[ SJ .YP] XLI )(4 *SYRHEXMSR VIUYIWXIH GSRJMVQEXMSR -R SVHIV)\LMFMXMSRSJXLI)(4*SYRHEXMSR4SVXYKYIWI%VX'SPPIGXMSRXS GSQTP] [MXL EVXMGPI SJ XLI 4VIEQFPI SJ XLI 6IKYPEXSV] *VEQI[SVO JSV *SYRHEXMSRW ETTVSZIH F] 0E[ SJ .YP] XLI )(4 *SYRHEXMSR VIUYIWXIH GSRJMVQEXMSR SJ MXW TYFPMG MRXIVIWX WXEXYW [LMGL [EW GSRJMVQIH F] EHQMRMWXVEXMZI SVHIV SJ *IFVYEV] TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ MXW)\LMFMXMSRSJXLI)(4*SYRHEXMSR)RIVK],IVMXEKI'SPPIGXMSR'SRXEHSVIWHI,MWXʬVMEW TYFPMG MRXIVIWX WXEXYW [LMGL [EW GSRJMVQIH F] EHQMRMWXVEXMZI SVHIV SJ *IFVYEV]StorytellersTYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ8LIMXIQ *IFVYEV]Suppliers8LIMWEREP]WIHEWJSPPS[WTYFPMG MRXIVIWX WXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRK IJJIGX SJ )\LMFMXMSR7EREXSVMYQF]4IHVS6I]IW*IFVYEV] 8LI TYFPMG MRXIVIWX WXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRK IJJIGX WMRGI*IFVYEV] Dec 2020 Dec 2019 WMRGI*IFVYEV]Exhibition AQUARIA — Ou a Ilusão de Um Mar Fechado (Or the Illusion of a Closed Sea Suppliers current )\LMFMXMSR

Liabilities from post-employment benefits: report 4IRWMSRTPERWGSWXW Dec 2020 Dec 2019 8LI EGGSYRXMRK TSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIH MR 8LI EGGSYRXMRK'SWXSJQIHMGEPTPERWERHSXLIVFIRIJMXWTSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIHMR XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIVGrants from the founder XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIV Financial 3XLIV )(4)RIVKMEWHI4SVXYKEP7% 2.2 NoGrants derrogations from other were entities made from the provisions in the SNC-ESNL. 2.2 No derrogations were made from the provisions in the SNC-ESNL. )(4+IWXʝSHE4VSHYʡʝ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here are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. There are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. 09 24.2.3 External supplies and services 2.3 8LIEZIVEKIRYQFIVSJIQTPS]IIW[SVOMRKJSVXLIMRWXMXYXMSRMRXLI]IEVWIRHIH(IGIQFIVERH[EWEWJSPPS[W 3. 8LIMXIQKey accountingExternal policies supplies and servicesMWEREP]WIHEWJSPPS[W 3. Key accounting policies Dec 2020 Dec 2019 8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[W Supplies and services: 8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[W 4VSQSXMSRERHHMWWIQMREXMSRSJIZIRXW M Dec 2020 Dec 2019 3.1 Measurement7TIGMEPMWIH[SVO MM bases used in preparing the financial statements 3.1 Measurement bases used in preparing the financial statements *IIW MMM %ZIVEKIRYQFIVSJIQTPS]IIW 8LI1EMRXIRERGIGSRWIVZEXMSRERHVITEMVWXSXLITVIQMWIWJMRERGMEP WXEXIQIRXW [IVI TVITEVIH YRHIV XLI LMWXSVMG GSWX TVMRGMTPI FEWIH SR XLI Institution’s EGGSYRXMRK VIGSVHW 0MEFMPMXMIW JVSQ HIJMRIH FIRIJMX FSRHWEVI VIGSKRMWIHEX XLI 8LI JMRERGMEP WXEXIQIRXW [IVI TVITEVIH YRHIV XLI LMWXSVMG GSWX TVMRGMTPI FEWIH SR XLI Institution’s EGGSYRXMRK VIGSVHW 0MEFMPMXMIW JVSQ HIJMRIH FIRIJMX FSRHW EVI VIGSKRMWIH EX XLI present'PIERMRKWYVZIMPPERGIERHKEVHIRMRK value of the bond net of the fund’s assets. present-R XLI ]IEV valueIRHIH of the bond(IGIQFIV net of the fund’sXLI assets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egarding theTSPMGMIW ExecutiveERH XLIBoardVITSVXIH ZEPYI SJ EWWIXW PMEFMPMXMIW MRGSQI ERH I\TIRWIW 8LI IWXMQEXIW ERH VIPEXIH EWWYQTXMSRW EVI FEWIH SR LMWXSVMG I\TIVMIRGI ERH SXLIV JEGXSVW XLEX EVI FIPMIZIH XS FI VIEWSREFPI YRHIV XLI GMVGYQWXERGIW XLIVIWYPXW SJ [LMGL JSVQ XLI FEWMW JSV QEOMRK NYHKQIRXW VIKEVHMRK XLI GEVV]MRK ZEPYIW SJ EWWIXW ERH PMEFMPMXMIW XLEX EVI XLEX EVI FIPMIZIH XS FI VIEWSREFPI YRHIV XLI GMVGYQWXERGIW XLI VIWYPXW SJ [LMGL JSVQ XLI FEWMW JSV QEOMRK NYHKQIRXW VIKEVHMRK XLI GEVV]MRK ZEPYIW SJ EWWIXW ERH PMEFMPMXMIW XLEX EVI RSX VIEHMP] ETTEVIRX JVSQ SXLIV WSYVGIW %GXYEP VIWYPXW QE] HMJJIV JVSQ XLIWI IWXMQEXIW -WWYIW MRZSPZMRK E LMKLIV HIKVII SJ NYHKQIRX SV GSQTPI\MX] SV [LIVI XLI EWWYQTXMSRW ERH RSX-R GSQTPMERGIVIEHMP] ETTEVIRX[MXL EVXMGPIJVSQ SXLIV WSYVGIWSJ XLI 7XEXYXIW%GXYEP VIWYPXWSJ XLI )(4QE]*SYRHEXMSRHMJJIV JVSQ XLIWISR IWXMQEXIW*IFVYEV] -WWYIW%RXʬRMSMRZSPZMRK0Yʧ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elevant accounting policies 3.2 Relevant accounting policies 3R 1EVGL XLI +7& ETTSMRXIH XLI QIQFIVW SJ XLI &SEVH SJ 8VYWXIIW REQIP] %RXʬRMS 0YʧW +YIVVE 2YRIW 1I\ME :EWGS 6SGLE :MIMVE (MRKQMRK >LERK 1MKYIP 7XMP[IPP HI M 8LI MXIQ 4VSQSXMSR ERH HMWWIQMREXMSR SJ IZIRXW [LMGL EX (IGIQFIV EQSYRXIH XS IYVSW IYVSW TIVXEMRW XS GSWXW MRGYVVIH XS GEVV] SYX E %RHVEHI ERH 1MKYIP 2YRS 7MQʮIW 2YRIW *IVVIMVE 7IXEW EPP RSRVIQYRIVEXIH (YVMRK XLI WEQI QIIXMRK XLI +7& YRERMQSYWP] ETTSMRXIH :EWGS 6SGLE :MIMVE XS XLI TSWMXMSR SJ a) VERKISJMRMXMEXMZIWTEVXMGYPEVP]XLIJSPPS[MRKProperty, plant & equipment a) Property, plant & equipment 'LEMVQERSJXLI&SEVHSJ8VYWXIIW 4VSTIVX] TPERX ERH IUYMTQIRX MW VIKMWXIVIH EX EGUYMWMXMSR GSWX [LMGL MRGPYHIW XLI TYVGLEWI TVMGI HYXMIW RSRVIJYRHEFPI TYVGLEWI XE\IW ERH ER] GSWXW HMVIGXP] EXXVMFYXEFPI XS FVMRK 4VSTIVX] TPERX ERH IUYMTQIRX MW VIKMWXIVIH EX EGUYMWMXMSR GSWX [LMGL MRGPYHIW XLI TYVGLEWI TVMGI HYXMIW RSRVIJYRHEFPI TYVGLEWI XE\IW ERH ER] GSWXW HMVIGXP] EXXVMFYXEFPI XS FVMRK XLIEWWIXXSXLIPSGEXMSRERHGSRHMXMSRRIGIWWEV]JSVMXXSFIGETEFPISJSTIVEXMRKMRXLIMRXIRHIHQERRIV XLIEWWIXXSXLIPSGEXMSRERHGSRHMXMSRRIGIWWEV]JSVMXXSFIGETEFPISJSTIVEXMRKMRXLIMRXIRHIHQERRIV

4760 4761 ANNUAL REPORT 2020

1. 3RIdentification 1E] of XLIthe QIQFIVWentity SJ XLI )\IGYXMZI &SEVH ERH 7YTIVZMWSV] &SEVH [IVI HIPMFIVEXIH 8LI )\IGYXMZI &SEVH MW GSQTVMWIH SJ %RXʬRMS 0YʧW +YIVVE 2YRIW 1I\ME 2YRS 1EVME 1. M Identification% VYFVMGE -QTSWXSW of the entityMRGPYM IYVSW HI -:% WYTSVXEHS IYVSW IYVSW HI XE\EW I PMGIRʡEW IYVSW WIRHS S VIWXERXI ZEPSV VIPEXMZS MQTSWXS HI 4IWXERE HI %PQIMHE %PZIW 6YM 1MKYIP 'SYXMRLS &ETXMWXE .SWʣ 1ERYIP 4IVIMVE HSW 7ERXSW ERH 4EYPS %PI\ERHVI 4MVIW 'EQTSW 'SWXE JSV XLI XIVQ MR TVSKVIWW XLVII]IEV TIVMSH WIPSIMQTSWXSʱRMGSHIGMVGYPEʡʝSIIYVSWVIJIVIRXIWEYQEVIKYPEVMÊʡʝSHI-:%ZSPYRXʛVME EPP RSRVIQYRIVEXIH 8LI 7YTIVZMWSV] &SEVH MW GSQTVMWIH SJ :ʧXSV *IVRERHIW HE 'SRGIMʡʝS +SRʡEPZIW 1MKYIP 8MEKS 4IVIWXVIPS HE 'ʜQEVE 6MFIMVS *IVVIMVE ERH :MXSV 01 *YRHEʡʝS )(4 0IKEP )RXMX] 2S MW E RSRTVSJMX MRWXMXYXMSR [MXL VIKMWXIVIH SJJMGI MR 0MWFSR JSYRHIH F] )(4 )RIVKMEW HI 4SVXYKEP 7% SR (IGIQFIV ERH [LMGL *YRHEʡʝS )(4 0IKEP )RXMX] 2S MW E RSRTVSJMX MRWXMXYXMSR [MXL VIKMWXIVIH SJJMGI MR 0MWFSR JSYRHIH F] )(4 )RIVKMEW HI 4SVXYKEP 7% SR (IGIQFIV ERH [LMGL Manuel da Cunha Ribeirinho representing KPMG & Associados – Statutory Auditor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ʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ (IGIQFIV XLI *SYRHEXMSR [EW 30. &]Subsidies,4VMQI1MRMWXIVMEP DonationsSVHIV and GrantsSJ (IGIQFIV TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱ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ʬRMSXLI 4VIEQFPI0Yʧ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ʣ *IFVYEV]1ERYIP 4IVIMVETYFPMWLIHHSWMR7ERXSWXLI 2EXMSREPERH 4EYPS3JJMGMEP%PI\ERHVI.SYVREP4MVIW (MʛVMSHI HE'EQTSW6ITʱFPMGE 'SWXE7IVMIWEW QIQFIVW-- 2S SJ SJ MXW TYFPMG MRXIVIWX WXEXYW [LMGL [EW GSRJMVQIH F] EHQMRMWXVEXMZI SVHIV SJ *IFVYEV] TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJXLEX&SEVH *IFVYEV] 8LI TYFPMG MRXIVIWX WXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRK IJJIGX SJ *IFVYEV] 8LI TYFPMG MRXIVIWX WXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRK IJJIGX WMRGI*IFVYEV] WMRGI*IFVYEV]PROJECT ENTITY 2020 3R XLEX WEQI HEXI XLI 7YTIVZMWSV] &SEVH [EW YRERMQSYWP] IPIGXIH GSQTVMWIH SJ :ʧXSV *IVRERHIW HE 'SRGIMʡʝS +SRʡEPZIW 1MKYIP 8MEKS 4IVIWXVIPS HE 'ʜQEVE 6MFIMVS *IVVIMVE SOCIAL INVESTMENT 501.503 8LI )(4 *SYRHEXMSR W KIRIVEP TYVTSWI MW XS TVSQSXI HIZIPST ERH WYTTSVX MRMXMEXMZIW SJ E WSGMEP GYPXYVEP WGMIRXMJMG XIGLRSPSKMGEP IHYGEXMSREP IRZMVSRQIRXEP ERH WTSVXW REXYVI EW EDP8LI )(4Solidarity*SYRHEXMSR W ProgrammeKIRIVEP – HeróisTYVTSWI de MW XS TVSQSXI HIZIPST ERH WYTTSVX MRMXMEXMZIW SJ E WSGMEP GYPXYVEP WGMIRXMJMG XIGLRSPSKMGEP IHYGEXMSREP IRZMVSRQIRXEP ERH WTSVXW REXYVI EW 03 and Vitor Manuel da Cunha Ribeirinho representing KPMG & Associados – Statutory Auditor. :EVMSYW)RXMXMIW [IPP EW XS HIJIRH EDP’s LIVMXEKI 8LI )(4 Foundation’s WTIGMEP TYVTSWI MW XS TVSQSXI XLI WXYH] TVIWIVZEXMSR ERH HMWWIQMREXMSR SJ XLI GYPXYVEP WGMIRXMJMG ERH XIGLRSPSKMGEP [IPP1ʛWGEVEW EW XS HIJIRHHeroes inEDP’s MasksLIVMXEKI 8LI )(4 Foundation’s WTIGMEP TYVTSWI MW XS TVSQSXI XLI WXYH] TVIWIVZEXMSR ERH HMWWIQMREXMSR SJ XLI GYPXYVEP WGMIRXMJMG ERH XIGLRSPSKMGEP LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK] LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK] Regarding the Board of Directors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ʱWMGE*SYRHEXMSRHSREXMSR SJ IYVSW ERH E JMRERGMEP EPPSGEXMSR SJ IYVSW 3R XLI &EPERGI 7LIIX HEXI XLI EQSYRXSJ XLI EPPSGEXMSRWLEHFIIRTEMHMRJYPP EPPSGEXMSRWLEHFIIRTEMHMRJYPP 04 )\LMFMXMSR/SVEOVMX%VYRERSRHGLEM %PI\ 3R %YKYWX XLI RI[ QIQFIVW SJ XLI &SEVH SJ (MVIGXSVW SJ XLI )(4 *SYRHEXMSR [IVI ETTSMRXIH JSV XLI XIVQ 8LI QIQFIVW ETTSMRXIH [IVI .SWʣ 1ERYIP 4IVIMVE +ZSNMG,MWXSV]MREVSSQJMPPIH[MXLTISTPI 7IVVEPZIW*SYRHEXMSR 2. HSW7ERXSW'EXEVMRE'STIWXEOI'SVXI^4MRXS7IM\EW)HYEVHS6SWE7MPZEERH4EXVMGO1MGEIP+SMWAccounting reference for preparation of financial statements 2. [MXLJYRR]REQIWAccounting reference for preparation of financial statements 4SVXS1YRMGMTEP+EPPIV] 4SVXS1YRMGMTEP'SYRGMP 2.1 Bases of presentation 2.1 Bases of presentation 3RP]XLIGLEMVQERSJXLI7YTIVZMWSV]&SEVHMWEVIQYRIVEXIHTSWMXMSRVIGIMZMRKXLIEQSYRXSJIYVSWHYVMRKXLI]IEV RSXI %6'3PMWFSE IFEMA – Institución Ferial de Madrid 1YWIY>IV 0YWʧEHE'YPXYVEP-RWXMXYXI 05 8LI )(4 Foundation’s JMRERGMEP WXEXIQIRXW [IVI TVITEVIH MR EGGSVHERGI [MXL XLI 9RMJMIH %GGSYRXMRK 7]WXIQ JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 72')720 – 2SVQEPMÊʡʝS 8LI )(4 Foundation’s JMRERGMEP WXEXIQIRXW [IVI TVITEVIH MR EGGSVHERGI [MXL XLI 9RMJMIH %GGSYRXMRK 7]WXIQ JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 72')720 – 2SVQEPMÊʡʝS 26. Impairment in accounts receivable (losses/reversals) Arpad Szenes – Vieira da Silva Foundation 'SRXEFMPʧWXMGE TEVE EW )RXMHEHIW HS 7IXSV RʝS 0YGVEXMZS TYVWYERX XS XLI XIVQW MR (IGVII 0E[ % SJ 1EVGL [LMGL MW ER MRXIKVEP TEVX SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 'SRXEFMPʧWXMGE TEVE EW )RXMHEHIW HS 7IXSV RʝS 0YGVEXMZS Arpad SzenesTYVWYERX – VieiraXS XLIda SilvaXIVQW FoundationMR (IGVII 0E[ % SJ 1EVGL [LMGL MW ER MRXIKVEP TEVX SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' – 7MWXIQE HI 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGE ETTVSZIH F] (IGVII 0E[ SJ .YP] FSXL EW EQIRHIH F] (IGVII 0E[ SJ .YRI 8LI 72')720 MW VIKYPEXIH F] 72'4VSKVEQQI– 7MWXIQE HI 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGE ETTVSZIH F] (IGVII 0E[ SJ .YP] FSXL EW EQIRHIH F] (IGVII 0E[ SJ .YRI 8LI 72')720 MW VIKYPEXIH F] 8LIMXIQImpairment in accounts receivableMWEREP]WIHEWJSPPS[W XLIJSPPS[MRKEGXW XLIJSPPS[MRKEGXW=SYXL7]QTLSR]3VGLIWXVE%GXMZMXMIW 4SVXYKYIWI1YWMGEP'MVGPI Dec 2020 Dec 2019 0MWFSR%VGLMXIGXYVI8VMIRREPI 0MWFSR%VGLMXIGXYVI8VMIRREPI%WWSGMEXMSR Losses -RZIRXSV] GEXEPSKYMRKXLI4VSJ)HYEVHS 2SXMGI SJ .YP] – %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 2'6*)720 – 2SVQE 'SRXEFMPʧWXMGE I HI VIPEXS *MRERGIMVS TEVE 2SXMGI SJ .YP] – %GGSYRXMRK ERH2EXMSREP'YPXYVI'IRXVI*MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 2'6*)720 – 2SVQE 'SRXEFMPʧWXMGE I HI VIPEXS *MRERGIMVSTEVE +IRIVEPGYWXSQIVW 0SYVIRʡS'SPPIGXMSR 06 EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS )(4*SYRHEXMSR=SYXL7]QTLSR]3VGLIWXVE - Ordinance 218/2015, of 23 July – Specific Account Codes for Entities in the Non-Profit Sector (CC-ESNL – Código de Contas específico para as Entidades do Setor Não Lucrativo); - Ordinance 218/2015, of 23 July – Specific Account4SVXYKYIWI1YWMGEP'MVGPI Codes for Entities in the Non-Profit Sector (CC-ESNL – Código de Contas específico para as Entidades do Setor Não Lucrativo); - OrdinanceReversals 220/2015, of 24 July – Financial Statement Models applicable to Entities in the Non-profit Sector. -7GLSPEVWLMTW Ordinance 220/2015, of 24 July – Financial Statement Models applicable to Entities in the Non-profit Sector. +IRIVEPGYWXSQIVW )(4'LSMV )(4'LSMV 9RIWGS%VXW)HYGEXMSR'PYF ASPREA – Association for Arts Education 2SX[MXLWXERHMRK XLI ETTPMGEXMSR SJ XLI 2'6*)720 MR EPP EWTIGXW GSRGIVRMRK VIGSKRMXMSR QIEWYVIQIRX ERH HMWGPSWYVI [LIRIZIV XLMW WXERHEVH HSIW RSX VIWTSRH XS TEVXMGYPEV 2SX[MXLWXERHMRKMário Soares & MariaXLI ETTPMGEXMSR Barroso FoundationSJ XLI 2'6*)720 – MR EPP EWTIGXW GSRGIVRMRK VIGSKRMXMSR QIEWYVIQIRX ERH HMWGPSWYVI [LIRIZIV XLMW WXERHEVH HSIW RSX VIWTSRH XS TEVXMGYPEV 1ʛVMS7SEVIW 1EVME&EVVSWS*SYRHEXMSR 07 EWTIGXW HMVIGXIH EX XLI )RXMX] VIKEVHMRK EGGSYRXMRK SV JMRERGMEP VITSVXMRK QEXXIVW SV WMXYEXMSRW SV WLSVXGSQMRKW XLEX EVI VIPIZERX XS XLI TVSZMWMSR SJ XVYI ERH ETTVSTVMEXI EWTIGXW)(4*SYRHEXMSR%[EVHHMVIGXIH EX XLI )RXMX] VIKEVHMRK EGGSYRXMRK SV JMRERGMEP VITSVXMRK QEXXIVW SV WMXYEXMSRW SV WLSVXGSQMRKW XLEX EVI VIPIZERX XS XLI TVSZMWMSR SJ XVYI ERH ETTVSTVMEXI 27. MRJSVQEXMSRProvisions XLI )RXMX] WLEPP YWI TVSZMHIH SRP] XS SZIVGSQI XLI WLSVXGSQMRK EHHMXMSREPP] ERH MR XLI JSPPS[MRK SVHIV M XLI %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW 2'6* MRJSVQEXMSR8LI0MWFSR'SRWSVXMYQ4VSKVEQQIXLI )RXMX] WLEPP YWI TVSZMHIH SRP] XS9RMZIVWMHEHI'EXʬPMGE4SVXYKYIWESZIVGSQI XLI WLSVXGSQMRK EHHMXMSREPP] ERH MR XLI JSPPS[MRK SVHIV M XLI %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW 2'6* -RXIVTVIXMZI +YMHIPMRIW (NI–Normas -RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW (NIC–Normas -RXIVTVIXMZI +YMHIPMRIW (NI–Normas -RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW (NIC–Normas MUSEUM/PROGRAMME 269.175 -RXIVREGMSREMW8LIMXIQProvisionsHI 'SRXEFMPMHEHI MWEREP]WIHEWJSPPS[WEHSTXIH YRHIV 6IKYPEXMSR SJ XLI )YVSTIER 4EVPMEQIRX ERH SJ XLI 'SYRGMP SJ .YP] ERH MMM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW -RXIVREGMSREMW HI 'SRXEFMPMHEHI EHSTXIH YRHIV 6IKYPEXMSR SJ XLI )YVSTIER 4EVPMEQIRX ERH SJ XLI 'SYRGMP SJ .YP] ERH MMM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW PEMAAT – MAAT Internship Programme – -%7 ERH-RXIVREXMSREP*MRERGMEP6ITSVXMRK7XERHEVHW -*67 MWWYIHF]XLI-%7& -%7 ERH-RXIVREXMSREP*MRERGMEP6ITSVXMRK7XERHEVHW -*67 MWWYIHF]XLI-%7&=SYXL*SYRHEXMSR Dec 2020 Dec 2019 XL XL)HMXMSRW MAAT Mode Programme – Counter 08 8LIJMRERGMEPWXEXIQIRXWXLEXMRGPYHIXLIFEPERGIWXEXIQIRXXLIWXEXIQIRXSJTVSJMXWERHPSWWIWF]EGXMZMX]XLIWXEXIQIRXSJGLERKIWMRIRHS[QIRXJYRHWXLIGEWLJPS[WXEXIQIRX 8LIJMRERGMEPWXEXIQIRXWXLEXMRGPYHIXLIFEPERGIWXEXIQIRXXLIWXEXIQIRXSJTVSJMXWERHPSWWIWF]EGXMZMX]XLIWXEXIQIRXSJGLERKIWMRIRHS[QIRXJYRHWXLIGEWLJPS[WXEXIQIRX)*%&90% %TTVSTVMEXMSRSJTVSZMWMSR RSXI %VGLMXIGXYVI4VSKVEQQI ERH XLI6IZIVWEPSJTVSZMWMSR RSXI ETTIRHM\ [IVI ETTVSZIH F] XLI Institution’s )\IGYXMZI &SEVH SR %TVMP EVI VIGSVHIH MR IYVSW ERH [IVI TVITEVIH SR E KSMRK GSRGIVR FEWMW ERH SRXLI EGGVYEP FEWMW ERH XLI ETTIRHM\ [IVI ETTVSZIH F] XLI Institution’s )\IGYXMZI &SEVH SR %TVMP EVI VIGSVHIH MR IYVSW ERH [IVI TVITEVIH SR E KSMRK GSRGIVR FEWMW ERH SR XLI EGGVYEP FEWMW MR [LMGL XLI MXIQW EVI VIGSKRMWIH EW EWWIXW PMEFMPMXMIW IRHS[QIRX JYRHW MRGSQI ERH GSWXW [LIR XLIWI WEXMWJ] XLI HIJMRMXMSRW ERH VIGSKRMXMSR GVMXIVME JSV XLSWI IPIQIRXW GSRXEMRIH MRMAAT[LMGL ModeXLI MXIQW ProgrammeEVI VIGSKRMWIH – JourneysEW EWWIXWto the PMEFMPMXMIW IRHS[QIRX JYRHW MRGSQI ERH GSWXW [LIR XLIWI WEXMWJ] XLI HIJMRMXMSRW ERH VIGSKRMXMSR GVMXIVME JSV XLSWI IPIQIRXW GSRXEMRIH Artéria – Association for Architecture & Urban Renewal MRXLIGSRGITXYEPJVEQI[SVOMRGSQTPMERGI[MXLXLIUYEPMXEXMZIGLEVEGXIVMWXMGWSJGSRWMWXIRG]SJTVIWIRXEXMSRQEXIVMEPMX]ERHEKKVIKEXMSRGSQTIRWEXMSRERHGSQTEVEFMPMX] MRXLIGSRGITXYEPJVEQI[SVOMRGSQTPMERGI[MXLXLIUYEPMXEXMZIGLEVEGXIVMWXMGWSJGSRWMWXIRG]SJTVIWIRXEXMSRQEXIVMEPMX]ERHEKKVIKEXMSRGSQTIRWEXMSRERHGSQTEVEFMPMX]-R&IX[IIR4VSKVEQQI MAAT Mode Programme – Video Art

Horta Seca – Cultural Association report 28. Other income 4VSKVEQQI 8LI EGGSYRXMRK TSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIH MR 8LIMAATEGGSYRXMRK Mode ProgrammeTSPMGMIW TVIWIRXIH – WorkshopMR RSXI Truth [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIH MR

8LIMXIQOther incomeMWEREP]WIHEWJSPPS[W %WWSGME^MSRI-26IWMHIRGI(IWMKR Financial XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIV XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIV8IPPIVW Dec 2020 Dec 2019 Fuso – Lisbon International Annual Video Art Horta Seca – Cultural Association 2.2 NoOther derrogations income were made from the provisions in the SNC-ESNL. 2.2 *IWXMZEPNo derrogations were made from the provisions in the SNC-ESNL. 6IZIRYIJVSQVIRXEPSJWTEGI CAMPUS 5.000 8LI7TSRWSVWLMTWKVERXIH M TIVMSH FIKMRRMRK SR .ERYEV] [EW XLI TIVMSH MR [LMGL XLI -RWXMXYXMSR ETTPMIH XLI EQIRHQIRXW MRXVSHYGIH F] (IGVII0E[ SJ .YRI 8LI-RWXMXYXMSR ETTPMIHXLI Research8LI TIVMSH projectFIKMRRMRK – TheSR first .ERYEV] years of steam[EW XLI TIVMSH MR [LMGL XLI -RWXMXYXMSR ETTPMIH XLI EQIRHQIRXW MRXVSHYGIH F] (IGVII0E[ SJ .YRI 8LI -RWXMXYXMSR ETTPMIH XLI RI[EGGSYRXMRKTSPMGMIWEQIRHIHF]2SXMGI[MXLSYXWMKRMJMGERXMQTEGXSRXLIJMRERGMEPWXEXIQIRXWTVIWIRXIHLIVIMR-RHIQRMXMIW MM RI[EGGSYRXMRKTSPMGMIWEQIRHIHF]2SXMGI[MXLSYXWMKRMJMGERXMQTEGXSRXLIJMRERGMEPWXEXIQIRXWTVIWIRXIHLIVIMR XLERRMZIVWEV]SJXLI Institute of Modern History – Universidade Nova de Lisboa's School of Social Sciences (SREXMSRWKVERXIH MMM MRXVSHYGXMSRSJWXIEQTS[IVIHIRIVK]MR There are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. 4SVXYKEP There are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. 09 2.3 3XLIVVIZIRYI MZ 2.3 COMMUNICATION & MARKETING 10.500 3. Key accounting policies 3. *EPEGSQ)PE Key accountingTalk policies to Her 4VSKVEQQI -RʤW1IRIWIW M -RXLIGSQTERMIW)-87IVZMGIW63**2SZS:IVHI%8/IEVRI]ERH)644SVXYKEPKVERXIHWTSRWSVWLMTWXSXEPPMRKIYVSW INSTITUTIONAL RELATIONS 11.000 8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[W (VE[MRK6SSQ0MWFSE8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[W)\LMFMX%VX1EREKIQIRX MM 8LMW MXIQ MRGPYHIW GSQTIRWEXMSR MR XLI EQSYRX SJ IYVSW JVSQ XLI MRWYVERGI JMVQW *MHIPMHEHI ERH *1 -RWYVERGI VIJIVVMRK XS GPEMQW MRGYVVIH HYVMRK XLI ]IEV EX %KIRHE7SPMHEVMX]7QMPI *MPLSWHS'SVEʡʝS%WWSGMEXMSR 3.1 1%%8 Measurement bases used in preparing the financial statements 3.1 CANCELLATIONMeasurement bases OF DONATIONS used in preparing TO PROJECTS the financial FROM statements PREVIOUS YEARS -70.943 TOTAL 1.396.735 MMM 8LMWMXIQMRGPYHIWIYVSWVIKEVHMRKHSREXMSRWKVERXIHF])-87IVZMGIW%8/IEVRI]63**4SVXYKEP-WVEIP'LEQFIVSJ'SQQIVGIERH&S'E'YPXYVEP%WWSGMEXMSR 8LI JMRERGMEP WXEXIQIRXW [IVI TVITEVIH YRHIV XLI LMWXSVMG GSWX TVMRGMTPI FEWIH SR XLI Institution’s EGGSYRXMRK VIGSVHW 0MEFMPMXMIW JVSQ HIJMRIH FIRIJMX FSRHW EVI VIGSKRMWIH EX XLI 8LI JMRERGMEP WXEXIQIRXW [IVI TVITEVIH YRHIV XLI LMWXSVMG GSWX TVMRGMTPI FEWIH SR XLI Institution’s EGGSYRXMRK VIGSVHW 0MEFMPMXMIW JVSQ HIJMRIH FIRIJMX FSRHW EVI VIGSKRMWIH EX XLI present value of the bond net of the fund’s assets. present8LIRYQFIVSJFIRIJMGMEVMIWSJXLIHMZIVWIMRMXMEXMZIWGEVVMIHSYXF]XLI)(4*SYRHEXMSRMWQIRXMSRIHMRXLIQEREKIQIRXVITSVX value of the bond net of the fund’s assets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epreciation & amortisation expenses/reversals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epreciationETTEVIRX JVSQ & amortisationSXLIV WSYVGIW expenses/reversals%GXYEP VIWYPXW QE]MWEREP]WIHEWJSPPS[WHMJJIV JVSQ XLIWI IWXMQEXIW -WWYIW MRZSPZMRK E LMKLIV HIKVII SJ NYHKQIRX SV GSQTPI\MX] SV [LIVI XLI EWWYQTXMSRW ERH 29. Other expenses IWXMQEXIWEVIGSRWMHIVIHWMKRMJMGERXEVITVIWIRXIHMR2SXI'VMXMGEPEGGSYRXMRKIWXMQEXIWERHNYHKQIRXWMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXW IWXMQEXIWEVIGSRWMHIVIHWMKRMJMGERXEVITVIWIRXIHMR2SXI'VMXMGEPEGGSYRXMRKIWXMQEXIWERHNYHKQIRXWMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXW Dec 2020 Dec 2019 Expenses 8LIMXIQOther expensesMWEREP]WIHEWJSPPS[W 3.2 Relevant accounting policies 3.2 Relevant4VSTIVX]TPERXERHIUYMTQIRX RSXI accounting policies Dec 2020 Dec 2019 a) Property,Other expenses plant & equipment a) Property,Compensation plant & equipment of depreciation 8E\IW M %QSVXMWEXMSRSJMRZIWXQIRXWYFWMH] M 4VSTIVX]3XLIV MM TPERX ERH IUYMTQIRX MW VIKMWXIVIH EX EGUYMWMXMSR GSWX [LMGL MRGPYHIW XLI TYVGLEWI TVMGI HYXMIW RSRVIJYRHEFPI TYVGLEWI XE\IW ERH ER] GSWXW HMVIGXP]EXXVMFYXEFPI XSFVMRK 4VSTIVX] TPERX ERH IUYMTQIRX MW VIKMWXIVIH EX EGUYMWMXMSR GSWX [LMGL MRGPYHIW XLI TYVGLEWI TVMGI HYXMIW RSRVIJYRHEFPI TYVGLEWI XE\IW ERH ER] GSWXW HMVIGXP]EXXVMFYXEFPI XS FVMRK XLIEWWIXXSXLIPSGEXMSRERHGSRHMXMSRRIGIWWEV]JSVMXXSFIGETEFPISJSTIVEXMRKMRXLIMRXIRHIHQERRIV XLIEWWIXXSXLIPSGEXMSRERHGSRHMXMSRRIGIWWEV]JSVMXXSFIGETEFPISJSTIVEXMRKMRXLIMRXIRHIHQERRIV

4762 4763 ANNUAL REPORT 2020

1. M Identification-R XLI ofMXIQ the entity'SQTIRWEXMSR SJ HITVIGMEXMSR VIKEVHW XLI EQSVXMWEXMSR SJ XLI WYFWMH] KVERXIH XS XLI )(4 *SYRHEXMSR JSV GSRWXVYGXMSR SJ 1%%8 F] XLI GSQTERMIW )(4 7% 1. 8LIFEPERGIW[MXLVIPEXIHTEVXMIWMREVIEWJSPPS[WIdentification of the entity )(44VSHYʡʝS7%ERH)6IHIW7% RSXI Assets Liabilities 01 Other accounts Other accounts *YRHEʡʝS )(4 0IKEP )RXMX] 2S MW E RSRTVSJMX MRWXMXYXMSR [MXL VIKMWXIVIH SJJMGI MR 0MWFSR JSYRHIH F] )(4 )RIVKMEW HI 4SVXYKEP 7% SR (IGIQFIV ERH [LMGL *YRHEʡʝS )(4 0IKEP )RXMX] 2S MW E RSRTVSJMX MRWXMXYXMSR [MXL VIKMWXIVIH SJJMGIClientsMR 0MWFSR JSYRHIH F] )(4 )RIVKMEW SuppliersHI 4SVXYKEP 7% SR (IGIQFIV ERH [LMGL 32. Interest and similar income Founder JSVQEPP]FIKERSTIVEXMRKMR1E]-X[EWVIGSKRMWIHEWE*SYRHEXMSRF]EHQMRMWXVEXMZISVHIV2SSJ3GXSFIVF]XLI1MRMWXV]SJXLI-RXIVMSV JSVQEPP]FIKERSTIVEXMRKMR1E]-X[EWVIGSKRMWIHEWE*SYRHEXMSRF]EHQMRMWXVEXMZISVHIV2SSJ3GXSFIVF]XLI1MRMWXV]SJXLI-RXIVMSVreceivable payable )(4)RIVKMEWHI4SVXYKEP7% &]8LIMXIQ4VMQI1MRMWXIVMEPInterest andSVHIV similarSJ income (IGIQFIVMWEREP]WIHEWJSPPS[W TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ (IGIQFIV XLI *SYRHEXMSR [EW &] 4VMQI1MRMWXIVMEPOther related partiesSVHIV SJ (IGIQFIV TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ (IGIQFIV XLI *SYRHEXMSR [EW HIGPEVIHETYFPMGMRXIVIWXIRXMX]YRHIV(IGVII0E[SJ2SZIQFIV Dec 2020 Dec 2019 HIGPEVIHETYFPMGMRXIVIWXIRXMX]YRHIV(IGVII0E[SJ2SZIQFIV)(44VSHYʡʝS7% )6IHIW7% 02 -RXIVIWXMRGSQI M 79)PIGXVMGMHEHI7% -R SVHIV XS GSQTP] [MXL EVXMGPI SJ XLI 4VIEQFPI SJ XLI 6IKYPEXSV] *VEQI[SVO JSV *SYRHEXMSRW ETTVSZIH F] 0E[ SJ .YP] XLI )(4 *SYRHEXMSR VIUYIWXIH GSRJMVQEXMSR -R SVHIV XS GSQTP] [MXL EVXMGPI SJ XLI 4VIEQFPI SJ XLI 6IKYPEXSV] *VEQI[SVO JSV *SYRHEXMSRW ETTVSZIH F] 0E[ SJ .YP] XLI )(4 *SYRHEXMSR VIUYIWXIH GSRJMVQEXMSR SJ MXW TYFPMG MRXIVIWX WXEXYW [LMGL [EW GSRJMVQIH F] EHQMRMWXVEXMZI SVHIV SJ *IFVYEV] TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP .SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ MXW TYFPMG)(4'SQIVGMEP7%MRXIVIWX WXEXYW [LMGL [EW GSRJMVQIH F] EHQMRMWXVEXMZI SVHIV SJ *IFVYEV] TYFPMWLIH MR XLI 2EXMSREP 3JJMGMEP.SYVREP (MʛVMS HE 6ITʱFPMGE 7IVMIW -- 2S SJ *IFVYEV] 8LI TYFPMG MRXIVIWX WXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSR SJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRK IJJIGX SJ *IFVYEV])(46IEP7XEXI7%8LI TYFPMG MRXIVIWX WXEXYW [EW VIRI[IH JSV ER EHHMXMSREP JMZI ]IEVW EW SJ TYFPMGEXMSRSJ XLI EHQMRMWXVEXMZI SVHIV 2S SJ *IFVYEV] XEOMRK IJJIGX WMRGI*IFVYEV] WMRGI*IFVYEV]0EFIPIG7% M -RXLIMXIQ-RXIVIWXMRGSQIVIKEVHWMRXIVIWXJVSQWLSVXXIVQMRZIWXQIRXW RSXI 7ʝZMHE7% 8LI )(4 *SYRHEXMSR W KIRIVEP TYVTSWI MW XS TVSQSXI HIZIPST ERH WYTTSVX MRMXMEXMZIW SJ E WSGMEP GYPXYVEP WGMIRXMJMG XIGLRSPSKMGEP IHYGEXMSREP IRZMVSRQIRXEP ERH WTSVXW REXYVI EW 8LI )(4)(4+PSFEP7SPYXMSRW7%*SYRHEXMSR W KIRIVEP TYVTSWI MW XS TVSQSXI HIZIPST ERH WYTTSVX MRMXMEXMZIW SJ E WSGMEP GYPXYVEP WGMIRXMJMG XIGLRSPSKMGEP IHYGEXMSREP IRZMVSRQIRXEPERH WTSVXW REXYVI EW 03 33. [IPPInterestEW XSandHIJIRH similarEDP’s expensesLIVMXEKI 8LI )(4 Foundation’s WTIGMEP TYVTSWI MW XS TVSQSXI XLI WXYH] TVIWIVZEXMSR ERH HMWWIQMREXMSR SJ XLI GYPXYVEP WGMIRXMJMG ERH XIGLRSPSKMGEP [IPP EW XS HIJIRH EDP’s LIVMXEKI 8LI )(4 Foundation’s WTIGMEP TYVTSWI MW XS TVSQSXI XLI WXYH] TVIWIVZEXMSR ERH HMWWIQMREXMSRSJ XLI GYPXYVEP WGMIRXMJMGERH XIGLRSPSKMGEP LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK] LIVMXEKIMR4SVXYKEPEWWSGMEXIH[MXLIPIGXVMGIRIVK] 8LIMXIQInterest and similar expensesMWEREP]WIHEWJSPPS[W 8LI )(4 *SYRHEXMSR [EW GVIEXIH F] MXW *SYRHIV )(4 )RIVKMEW HI 4SVXYKEP 7% [MXL VIKMWXIVIH SJJMGI EX %ZIRMHE HI .YPLS 2S MR 0MWFSRDec[MXL 2020ER MRMXMEP 'ETMXEPDec *YRH2019 SJ 8LI8LIFEPERGIW[MXLVIPEXIHTEVXMIWMREVIEWJSPPS[W)(4 *SYRHEXMSR [EW GVIEXIH F] MXW *SYRHIV )(4 )RIVKMEW HI 4SVXYKEP 7% [MXL VIKMWXIVIH SJJMGI EX %ZIRMHE HI .YPLS 2S MR 0MWFSR [MXL ER MRMXMEP 'ETMXEP *YRH SJ IYVSW GSRWXMXYXIH XLVSYKL E GEWL HSREXMSR SJ IYVSW ERH E JMRERGMEP EPPSGEXMSR SJ IYVSW 3R XLI &EPERGI 7LIIX HEXI XLI EQSYRX SJ XLI IYVSW GSRWXMXYXIH XLVSYKL E GEWL HSREXMSR SJ IYVSW ERH E JMRERGMEP EPPSGEXMSRAssets SJ IYVSW 3R XLILiabilities&EPERGI 7LIIX HEXI XLI EQSYRX SJ XLI EPPSGEXMSRWLEHFIIRTEMHMRJYPP-RXIVIWXI\TIRWIW M EPPSGEXMSRWLEHFIIRTEMHMRJYPP Other accounts Other accounts 04 Clients Suppliers Founder receivable payable 2. Accounting reference for preparation of financial statements 2. Accounting)(4)RIVKMEWHI4SVXYKEP7% reference for preparation of financial statements Other related parties 2.1 M Bases%W EXof presentation(IGIQFIV XLI MXIQ -RXIVIWX I\TIRWIW VIGSVHW MRXIVIWX SR JMRERGI PIEWI GSRXVEGXW [LMGL [IVI GSRGPYHIH MR XLI GSYVWI SJ XLI ]IEV MR XLI EQSYRX SJ IYVSW 2.1 Bases of)(44VSHYʡʝS7% presentation IYVSW )6IHIW7% 05 8LI )(4 Foundation’s JMRERGMEP WXEXIQIRXW [IVI TVITEVIH MR EGGSVHERGI [MXL XLI 9RMJMIH %GGSYRXMRK 7]WXIQ JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 72')720 – 2SVQEPMÊʡʝS 8LI )(4)(47IVZMʡS9RMZIVWEP7%Foundation’s JMRERGMEP WXEXIQIRXW [IVI TVITEVIH MR EGGSVHERGI [MXL XLI 9RMJMIH %GGSYRXMRK 7]WXIQ JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 72')720 – 2SVQEPMÊʡʝS 34. 'SRXEFMPʧWXMGEDisclosure of relatedTEVE EW parties)RXMHEHIW HS 7IXSV RʝS 0YGVEXMZS TYVWYERX XS XLI XIVQW MR (IGVII 0E[ % SJ 1EVGL [LMGL MW ER MRXIKVEP TEVX SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 'SRXEFMPʧWXMGE)(4'SQIVGMEP7%TEVE EW )RXMHEHIW HS 7IXSV RʝS 0YGVEXMZS TYVWYERX XS XLI XIVQW MR (IGVII 0E[ % SJ 1EVGL[LMGL MW ER MRXIKVEP TEVX SJ XLI 9RMJMIH%GGSYRXMRK 7]WXIQ 72' – 7MWXIQE HI 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGE ETTVSZIH F] (IGVII 0E[ SJ .YP] FSXL EW EQIRHIH F] (IGVII 0E[ SJ .YRI 8LI 72')720 MW VIKYPEXIH F] 72' –)(46IEP7XEXI7%7MWXIQE HI 2SVQEPMÊʡʝS 'SRXEFMPʧWXMGE ETTVSZIH F] (IGVII 0E[ SJ .YP] FSXL EW EQIRHIH F] (IGVII 0E[ SJ .YRI 8LI 72')720 MW VIKYPEXIH F] XLIJSPPS[MRKEGXW6IQYRIVEXMSRSJXLIKSZIVRMRKFSHMIWJSVXLI]IEVMWWYQQEVMWIHEWJSPPS[W XLIJSPPS[MRKEGXW7ʝZMHE7% )(4+PSFEP7SPYXMSRW7% 2SXMGI SJ .YP] – %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 2'6*)720 – 2SVQE 'SRXEFMPʧWXMGEDec I2020HI VIPEXS *MRERGIMVSDec 2019TEVE 2SXMGI)(47SPYʡʮIW'SQIVGMEMW7% SJ .YP] – %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW JSV )RXMXMIW MR XLI 2SR4VSJMX 7IGXSV 2'6*)720 – 2SVQE 'SRXEFMPʧWXMGE I HI VIPEXS *MRERGIMVS TEVE 06 EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS 7YTIVZMWSV]&SEVH)\IGYXMZI&SEVH EW)RXMHEHIWHS7IXSV2ʝS0YGVEXMZS )(4-RSZEʡʝS7% - Ordinance7XEXYXSV]%YHMXSV 218/2015, of 23 July – Specific Account Codes for Entities in the Non-Profit Sector (CC-ESNL – Código de Contas específico para as Entidades do Setor Não Lucrativo); - Ordinance 218/2015, of 23 July – Specific Account Codes for Entities in the Non-Profit Sector (CC-ESNL – Código de Contas específico para as Entidades do Setor Não Lucrativo); - Ordinance 220/2015, of 24 July – Financial Statement Models applicable to Entities in the Non-profit Sector. - Ordinance 220/2015, of 24 July – Financial Statement Models applicable to Entities in the Non-profit Sector.

35. Contingent Liabilities 8VERWEGXMSRWFIX[IIRVIPEXIHTEVXMIWMREVIEWJSPPS[W 2SX[MXLWXERHMRK XLI ETTPMGEXMSR SJ XLI 2'6*)720 MR EPP EWTIGXW GSRGIVRMRK VIGSKRMXMSR QIEWYVIQIRX ERH HMWGPSWYVI [LIRIZIV XLMW WXERHEVH HSIW RSX VIWTSRH XS TEVXMGYPEV 2SX[MXLWXERHMRK XLI ETTPMGEXMSR SJ XLI 2'6*)720 MR EPP EWTIGXW GSRGIVRMRK VIGSKRMXMSR QIEWYVIQIRX ERH HMWGPSWYVI [LIRIZIV XLMW WXERHEVH HSIW RSX VIWTSRH XS TEVXMGYPEV Expenses Income 07 EWTIGXW HMVIGXIH EX XLI )RXMX] VIKEVHMRK EGGSYRXMRK SV JMRERGMEP VITSVXMRK QEXXIVW SV WMXYEXMSRW SV WLSVXGSQMRKW XLEX EVI VIPIZERX XS XLI TVSZMWMSR SJ XVYI ERH ETTVSTVMEXI EWTIGXW'SRXMRKIRXPMEFMPMXMIW[LSWIPMOIPMLSSHSJPSWWMWVEXIHEWTSWWMFPIHSRSXVIUYMVIXLIGVIEXMSRSJTVSZMWMSRWERHEVIVIEWWIWWIHTIVMSHMGEPP]HMVIGXIH EX XLI )RXMX] VIKEVHMRK EGGSYRXMRK SV JMRERGMEP VITSVXMRK QEXXIVW SV WMXYEXMSRW SV WLSVXGSQMRKW XLEX EVI VIPIZERX XS XLI TVSZMWMSR SJ XVYI ERH ETTVSTVMEXI Sales & services Operating MRJSVQEXMSR XLI )RXMX] WLEPP YWI TVSZMHIH SRP] XS SZIVGSQI XLI WLSVXGSQMRK EHHMXMSREPP] ERH MR XLI JSPPS[MRKExpensesSVHIV M XLI %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW 2'6* MRJSVQEXMSR XLI )RXMX] WLEPP YWI TVSZMHIH SRP] XS SZIVGSQI XLI WLSVXGSQMRK EHHMXMSREPP] ERH MR XLI JSPPS[MRK SVHIV M XLI %GGSYRXMRK ERH *MRERGMEP 6ITSVXMRK 7XERHEVHW 2'6* Founder rendered subsidies -RXIVTVIXMZI +YMHIPMRIW (NI–Normas -RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW (NIC–Normas 36. -RXIVTVIXMZICommitments+YMHIPMRIW (NI–Normas -RXIVTVIXEXMZEW ERH 'SRGITXYEP 7XVYGXYVI SJ XLI 9RMJMIH %GGSYRXMRK 7]WXIQ 72' MM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW (NIC–Normas -RXIVREGMSREMW)(4)RIVKMEWHI4SVXYKEP7%HI 'SRXEFMPMHEHI EHSTXIH YRHIV 6IKYPEXMSR SJ XLI )YVSTIER 4EVPMEQIRX ERH SJ XLI 'SYRGMPSJ .YP] ERH MMM XLI -RXIVREXMSREP%GGSYRXMRK 7XERHEVHW -RXIVREGMSREMW HI 'SRXEFMPMHEHI EHSTXIH YRHIV 6IKYPEXMSR SJ XLI )YVSTIER 4EVPMEQIRX ERH SJ XLI 'SYRGMP SJ .YP] ERH MMM XLI -RXIVREXMSREP %GGSYRXMRK 7XERHEVHW Other related parties -%7 ERH-RXIVREXMSREP*MRERGMEP6ITSVXMRK7XERHEVHW -*67 MWWYIHF]XLI-%7& -%7 ERH-RXIVREXMSREP*MRERGMEP6ITSVXMRK7XERHEVHW -*67 MWWYIHF]XLI-%7&8LI GSQQMXQIRXW YRHIVXEOIR F] XLI )(4 *SYRHEXMSR XS MXW WYTTPMIVW VIKEVHMRK GSRWXVYGXMSR SJ XLI 1YWIYQ SJ %VX %VGLMXIGXYVI ERH 8IGLRSPSK] EQSYRX XS IYVSW 8LIWI )(44VSHYʡʝS7% GSQQMXQIRXW EVI JYPP] GSZIVIH F] XLI TEXVSREKI TVSXSGSP WMKRIH F] XLI )(4 *SYRHEXMSR MXW JSYRHIV ERH XLI +VSYT W RYGPIEV GSQTERMIW [LIVIF] XLI PEXXIV WLEPP FIEV EPP SJ XLI )6IHIW7% 08 8LIJMRERGMEPWXEXIQIRXWXLEXMRGPYHIXLIFEPERGIWXEXIQIRXXLIWXEXIQIRXSJTVSJMXWERHPSWWIWF]EGXMZMX]XLIWXEXIQIRXSJGLERKIWMRIRHS[QIRXJYRHWXLIGEWLJPS[WXEXIQIRX GSWXW8LIJMRERGMEPWXEXIQIRXWXLEXMRGPYHIXLIFEPERGIWXEXIQIRXXLIWXEXIQIRXSJTVSJMXWERHPSWWIWF]EGXMZMX]XLIWXEXIQIRXSJGLERKIWMRIRHS[QIRXJYRHWXLIGEWLJPS[WXEXIQIRXSJ XLI [SVO 8LI *SYRHEXMSR EPWS QEOIW GSQQMXQIRXW JSV XLI RI[ XMGOIX SJJMGI MR XLI EQSYRX SJ IYVSW VIRSZEXMSR SJ XLI ''8: W]WXIQ JSV IYVSW ERH ERH XLI)(4'SQIVGMEP7%ETTIRHM\ [IVI ETTVSZIH F] XLI Institution’s )\IGYXMZI &SEVH SR %TVMP EVI VIGSVHIH MR IYVSW ERH[IVI TVITEVIH SR E KSMRKGSRGIVR FEWMW ERH SRXLI EGGVYEP FEWMW IYVSWVIKEVHMRKGSRWIVZEXMSR[SVOWSRXLI8INS4S[IV7XEXMSREWEX(IGIQFIVERH XLI ETTIRHM\ [IVI ETTVSZIH F] XLI Institution’s )\IGYXMZI &SEVH SR %TVMP EVI VIGSVHIH MR IYVSW ERH [IVI TVITEVIH SR E KSMRK GSRGIVR FEWMW ERH SR XLI EGGVYEP FEWMW MR [LMGL)(46IEP7XEXI7%XLI MXIQW EVI VIGSKRMWIH EW EWWIXW PMEFMPMXMIW IRHS[QIRX JYRHW MRGSQI ERH GSWXW [LIR XLIWI WEXMWJ] XLIHIJMRMXMSRW ERH VIGSKRMXMSRGVMXIVME JSV XLSWI IPIQIRXW GSRXEMRIH MR [LMGL XLI MXIQW EVI VIGSKRMWIH EW EWWIXW PMEFMPMXMIW IRHS[QIRX JYRHW MRGSQI ERH GSWXW [LIR XLIWI WEXMWJ] XLI HIJMRMXMSRW ERH VIGSKRMXMSR GVMXIVME JSV XLSWI IPIQIRXW GSRXEMRIH MRXLIGSRGITXYEPJVEQI[SVOMRGSQTPMERGI[MXLXLIUYEPMXEXMZIGLEVEGXIVMWXMGWSJGSRWMWXIRG]SJTVIWIRXEXMSRQEXIVMEPMX]ERHEKKVIKEXMSRGSQTIRWEXMSRERHGSQTEVEFMPMX]0EFIPIG7% MRXLIGSRGITXYEPJVEQI[SVOMRGSQTPMERGI[MXLXLIUYEPMXEXMZIGLEVEGXIVMWXMGWSJGSRWMWXIRG]SJTVIWIRXEXMSRQEXIVMEPMX]ERHEKKVIKEXMSRGSQTIRWEXMSRERHGSQTEVEFMPMX] 37. Relevant events and/or Events after the balance sheet date 7ʝZMHE7% )(4+PSFEP7SPYXMSRW7% report %JXIVXLIFEPERGIWLIIXHEXIRSIZIRXWSGGYVVIHXLEXQMKLXKMZIVMWIXSEHNYWXQIRXWSVVIUYMVIHMWGPSWYVIMRXLIMRWXMXYXMSR WJMRERGMEPWXEXIQIRXW 8LI EGGSYRXMRK TSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEPMRJSVQEXMSR TVIWIRXIH MR 8LI EGGSYRXMRK TSPMGMIW TVIWIRXIH MR RSXI [IVI YWIH MR XLI JMRERGMEP WXEXIQIRXW JSV XLI ]IEV IRHIH (IGIQFIV ERH MR XLI GSQTEVEXMZI JMRERGMEP MRJSVQEXMSR TVIWIRXIH MR XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIV XLIWIJMRERGMEPWXEXIQIRXWJSVXLI]IEVIRHIH(IGIQFIV Financial 8LITYFPMGLIEPXLWMXYEXMSRGEYWIHF]XLI'3:-(TERHIQMGPIHXSXLI8INS4S[IV7XEXMSRERH1%%8FIMRKGPSWIHXSXLITYFPMGFIX[IIR1EVGLERH.YRI 2.2 8VERWEGXMSRWFIX[IIRVIPEXIHTEVXMIWMREVIEWJSPPS[WNo derrogations were made from the provisions in the SNC-ESNL. 2.2 No derrogations were made from the provisions in the SNC-ESNL. Expenses Income &SXL FYMPHMRKW [IVI VISTIRIH SR .YRI FYX HYI XS E RI[ KIRIVEP PSGOHS[R HIGVIIH F] XLI +SZIVRQIRX XLI WTEGIW [IVI GPSWIH SRGI EKEMR SR .ERYEV] [MXL XLI 8LI TIVMSH FIKMRRMRK SR .ERYEV] [EW XLI TIVMSH MR [LMGL XLI -RWXMXYXMSR ETTPMIH XLI EQIRHQIRXW MRXVSHYGIH F] (IGVII0E[Sales & services SJ .YRIOperating8LI -RWXMXYXMSR ETTPMIH XLI 8LI1%%8VISTIRMRKSR%TVMPERHXLI8INS4S[IV7XEXMSRSR%TVMPTIVMSH FIKMRRMRK SR .ERYEV] [EW XLI TIVMSH MR [LMGL XLI -RWXMXYXMSR ETTPMIH XLI EQIRHQIRXW MRXVSHYGIH F] (IGVII0E[ SJ .YRI 8LI -RWXMXYXMSR ETTPMIH XLI Expenses RI[EGGSYRXMRKTSPMGMIWEQIRHIHF]2SXMGI[MXLSYXWMKRMJMGERXMQTEGXSRXLIJMRERGMEPWXEXIQIRXWTVIWIRXIHLIVIMRFounder rendered subsidies RI[EGGSYRXMRKTSPMGMIWEQIRHIHF]2SXMGI[MXLSYXWMKRMJMGERXMQTEGXSRXLIJMRERGMEPWXEXIQIRXWTVIWIRXIHLIVIMR -RXIVQWSJ-RGSQIXLITSXIRXMEPMQTEGXMRSJXLIJSVGIQENIYVIIZIRXWQIRXMSRIHEFSZIMWI\TIGXIHXSFI )(4)RIVKMEWHI4SVXYKEP7% There are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. There are no accounts in the balance sheet and in the income statement whose contents are not comparable with those from the previous year. 09 2.3 Other related parties 2.3 1EMRXIRERGISJSTIVEXMRKWYFWMHMIWKVERXIHF]XLI)(4+VSYTMRXLIWEQIEQSYRXTVSZMHIHMR )(44VSHYʡʝS7% 3. Key accounting)6IHIW7% policies 3. Key accounting policies 6IHYGXMSR MR MRGSQI JVSQ XLI WEPI SJ XMGOIXW XS XLI QYWIYQ ERH TVSHYGXW MR XLI KMJXWLST EW [IPP EW JVSQ VIRXMRK SYX WTEGIW ERH PIEWMRK XLI 1%%8 VIWXEYVERX HYI XS GPSWYVI SJ )(4'SQIVGMEP7% 8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[W 8LIOI]EGGSYRXMRKTSPMGMIWETTPMIHMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXWEVIEWJSPPS[Wthe buildings and restrictions imposed on the population’s movement and execution of events because of the pandemic. )(46IEP7XEXI7% 0EFIPIG7% Regarding Expenses for the year 2021, overall, the EDP Foundation’s principal regular activities are expected to be maintained: 3.1 Measurement7ʝZMHE7% bases used in preparing the financial statements 3.1 Measurement bases used in preparing the financial statements )(4+PSFEP7SPYXMSRW7% 8LI 1%%8 TVSKVEQQMRK [MPP TVIWIVZI MXW MRXIVREXMSREP EQFMXMSR JSGYWMRK SR TVITEVMRK XLI RI[ TVSKVEQQIW JSVIWIIR JSV ERH ERH XLI HMKMXEP TVSKVEQQMRK SJJIVIH 8LI JMRERGMEP WXEXIQIRXW [IVI TVITEVIH YRHIV XLI LMWXSVMG GSWX TVMRGMTPI FEWIH SR XLI Institution’s EGGSYRXMRK VIGSVHW 0MEFMPMXMIW JVSQ HIJMRIH FIRIJMX FSRHW EVI VIGSKRMWIH EX XLI 8LI JMRERGMEP WXEXIQIRXW [IVI TVITEVIH YRHIV XLI LMWXSVMG GSWX TVMRGMTPI FEWIH SR XLI Institution’s EGGSYRXMRK VIGSVHW 0MEFMPMXMIW JVSQ HIJMRIH FIRIJMX FSRHW EVI VIGSKRMWIH EX XLI )(4-RSZEʡʝS7% HYVMRKXLIGPSWIHTIVMSHW present value of the bond net of the fund’s assets. present value of the bond net of the fund’s assets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ʛVME )(47SPMHEVMX]4VSKVEQQI [MPPFIGLERRIPPIHXSEHHVIWWRIIHWGVIEXIHF]XLI'3:-(TERHIQMG-RXLI XLEX EVI FIPMIZIH XS FI VIEWSREFPI YRHIV XLI GMVGYQWXERGIW XLI VIWYPXW SJ [LMGL JSVQ XLI FEWMW JSV QEOMRK NYHKQIRXW VIKEVHMRK XLI GEVV]MRK ZEPYIW SJ EWWIXW ERH PMEFMPMXMIW XLEX EVI XLEX EVI FIPMIZIH XS FI VIEWSREFPI YRHIV XLI GMVGYQWXERGIW XLI VIWYPXW SJ [LMGL JSVQ XLI FEWMW JSV QEOMRK NYHKQIRXW VIKEVHMRK XLI GEVV]MRK ZEPYIW SJ EWWIXW ERH PMEFMPMXMIW XLEX EVI IHMXMSRXLI4VSKVEQQI[MPPFIFEWIHSRXLIHSREXMSRSJIUYMTQIRXXSWYTTSVXXLIHMKMXEPIQTS[IVQIRXSJREXMSREPIHYGEXMSR RSX VIEHMP] ETTEVIRX JVSQ SXLIV WSYVGIW %GXYEP VIWYPXW QE] HMJJIV JVSQ XLIWI IWXMQEXIW -WWYIW MRZSPZMRK E LMKLIV HIKVII SJ NYHKQIRX SV GSQTPI\MX] SV [LIVI XLI EWWYQTXMSRW ERH RSX VIEHMP] ETTEVIRX JVSQ SXLIV WSYVGIW %GXYEP VIWYPXW QE] HMJJIV JVSQ XLIWI IWXMQEXIW -WWYIW MRZSPZMRK E LMKLIV HIKVII SJ NYHKQIRX SV GSQTPI\MX] SV [LIVI XLI EWWYQTXMSRW ERH IWXMQEXIWEVIGSRWMHIVIHWMKRMJMGERXEVITVIWIRXIHMR2SXI'VMXMGEPEGGSYRXMRKIWXMQEXIWERHNYHKQIRXWMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXW IWXMQEXIWEVIGSRWMHIVIHWMKRMJMGERXEVITVIWIRXIHMR2SXI'VMXMGEPEGGSYRXMRKIWXMQEXIWERHNYHKQIRXWMRTVITEVMRKXLIJMRERGMEPWXEXIQIRXW 8LI )(4 *SYRHEXMSR MW RSX I\TIGXIH XS I\TIVMIRGI GSRWXVEMRXW SR GEWL EZEMPEFMPMXMIW MR XLIVIF] IREFPMRK XLI MRWXMXYXMSR XS JYPJMP MXW WXEXYXSV] TYVTSWIW ERH XLI GSRHMXMSRW ERH VIUYMVIQIRXWEVMWMRKJVSQMXW4YFPMG-RXIVIWX7XEXYW 3.2 Relevant accounting policies 3.2 Relevant accounting policies

a) Property, plant & equipment a) Property, plant & equipment

4764 4765 ANNUAL REPORT 2020

01 02 03 04 05 06 07 FROM MORE TO BETTER 08 09 statements Certifications &

Changing tomorrow now.

37 ANNUAL REPORT 2020

01 02 03 04 05 06 07 08 09 statements Certifications &

38 ANNUAL REPORT 2020

REPORT AND OPINION OF THE SUPERVISORY BOARD 01 To the members of the Executive Board of EDP Foundation

Pursuant to the provisions in the EDP Foundation’s statutes, as the Supervisory Board of the EDP 02 Foundation, it is our duty to present the Report of our supervisory activity, as well as our Opinion on the Annual Report and Accounts presented by the Foundation’s Executive Board, relating to the year ended 31 December 2020. 03

Through contacts that took place between this Supervisory Board and the EDP Foundation’s Executive Board or its representatives, as well as clarifications and diverse information collected from the relevant services, we gathered information regarding the Foundation’s activity and 04 management of the business developed during the year.

We proceeded to verify the financial information produced throughout the year, carrying out the analyses we deemed appropriate. We confirmed the suitability of the accounting policies and 05 valuation criteria used. We verified the compliance with the Law and the Foundation’s statutes.

After closing the accounts, we assessed the Management Report, Balance Sheet, Income statement, Statement of changes in the endowment funds and the Cash flow statement for the 06 period ended on that date, and the corresponding appendices to the financial statements which, aside from satisfying the legal provisions applicable, reasonably express the activity developed during this year and the foreseeable evolution of the EDP Foundation’s business. 07 We assessed the Legal Certification of Accounts, issued by the Statutory Auditor without reservations and / or emphasis, whose content garnered our agreement.

As a result of the work carried out, it is our Opinion that the aforementioned Management Report 08 and financial statements presented by the Executive Board should be approved.

Furthermore, we wish to express to the Executive Board and the EDP Foundation’s services our 09 appreciation for the collaboration they rendered us.

Lisbon, May 6th 2021

SIGNED ON THE ORIGINAL statements

Vítor Fernando da Conceição Gonçalves Chairman Certifications &

SIGNED ON THE ORIGINAL

Miguel Tiago Perestrelo da Câmara Ribeiro Ferreira Trustee

SIGNED ON THE ORIGINAL

KPMG & Associados Sociedade de Revisores Oficiais de Contas, S.A. (n.º 189) represented by Vítor Manuel da Cunha Ribeirinho (Statutory Auditor n.º 1081)

39 ANNUAL REPORT 2020

01 Macro indicators 02 03 04 05 06 07 08 09