Red Electrica de España S A : Eléctrica carried out a bond issue in the euro market for a total of 700 million euros. The proceeds of the bond issued will be used to finance and/or refinance Eligible Green Projects Framework of Eléctrica.

COMISIÓN NACIONAL DEL MERCADO DE VALORES Área de Mercados

Édison, 4

28006 MADRID

Madrid, 9 January 2020

Dear Sir,

Pursuant to section 227 of the Consolidated Text of the Spanish Securities Market Act (Ley del Mercado de Valores) and based on the wording approved in Royal Decree Law 19/2018 of 23 November, I enclose the following relevant information concerning Red Eléctrica Corporación, S.A.:

Red Eléctrica Corporación, through its subsidiary, Red Eléctrica Financiaciones, S.A.U., carried out, under its Euro Medium Term Note Programme (Programa EMTN), a bond issue in the euro market, backed by the guarantee of Red Eléctrica Corporación, S.A. and Red Eléctrica de España, S.A.U., for a total of seven hundred (700) million euros.

The proceeds of the bond issued will be used to finance and/or refinance Eligible Green Projects within the newly established Green Finance Framework of Red Eléctrica de España, S.A.U.

This issue has an eight and a half (8.5) year maturity and the payment and closing is scheduled to take place on 24th January 2020. The issue has an annual coupon of 0.375% and an issue price of 98.963%, which represents a yield of 0.500%.

Yours sincerely,

Fdo.: Teresa Quirós Álvarez

LEGAL WARNING

This announcement is neither an offer to sell nor a solicitation of an offer to buy securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful -including, but not limited to, the United States of America, Australia, Canada and Japan-.

The securities mentioned herein have not been and will not be registered under the United States Securities Act of 1933 (the "US Securities Act"), as may be amended at any given time, or under any state securities laws, and cannot be offered or sold in the United States of America unless they have been registered in the United States, or unless an exemption exists from the registration requirements established in the US Securities Act, and according to the applicable state securities laws.