Financial Obligation Form 8 K

On September 16, 2024, Avangrid, Inc. (the "Corporation") entered into an intra-group green loan agreement with Iberdrola Financiación, S.A.U., a wholly-owned subsidiary of Iberdrola, S.A. (the "Lender"), which owns approximately 81.6% of the issued and outstanding shares of common stock of the Corporation (the "Loan Agreement"). The Loan Agreement provides the Corporation with an unsecured loan in an aggregate principal amount of $600,000,000 (the "Loan"), which shall be made available to the Corporation in one or more disbursements on the date that is on or before October 14, 2024 (such date, the "Closing Date"). The proceeds of the Loan will be used for the financing and/or refinancing, in whole or in part, Eligible Green Projects (as defined in the Loan Agreement) for the Corporation in accordance with prescribed eligibility criteria set out in the Iberdrola, S.A. framework for green financing and the Corporation's framework for green financing.

The Loan bears interest at a rate per annum equal to 5.057% and interest is payable in arrears in six-monthperiods continuing until the date that is ten years from the Closing Date. The Corporation is required to repay the Loan in full upon a change of control of the Corporation. In addition, upon three business days' notice to the Lender, the Corporation may voluntarily repay the Loan and any accrued and unpaid interest, in whole or in part; provided, that if such pre-paymentdue to the Corporation's identification of other financing options the Corporation and the Lender shall negotiate in good faith to enter into an amendment of the applicable Loan Agreement. In the event that no agreements have been reached for such amendment of the applicable Loan Agreement prior to the expiration of the offer period of such other possible financing options, the Corporation shall also pay Break Costs (as defined in the Loan Agreement). The Loan Agreement contains certain customary affirmative and negative covenants and events of default.

The description above is only a summary of the material provisions of the Loan Agreement and does not purport to be complete and is qualified in its entirety by reference to the provisions in such agreements, copies of which will be filed by the Corporation as an exhibit to its quarterly report on Form 10-Qfor the quarterly period ended September 30, 2024.