Endesa has reached with all its union forces (UGT, SIE and CCOO) an agreement for the voluntary departure of up to

1,200 employees

during the next four years, framed within the energy transition and digitization process set by the energy company in its new Strategic plan.

This agreement implies the accounting record of a provision with a non-recurring impact on the consolidated result estimated at about

390 million euros

, which will have no effect on the remuneration of the shareholder corresponding to fiscal year 2020, the company indicated in a statement to the National Commission of the Stock Market (CNMV).

Specifically, this collective agreement on voluntary suspension or termination of the employment relationship will be extended during the 2021-2024 period, affecting a maximum of 1,200 workers and its application will in any case be voluntary for them.

The departure plan is mainly directed to the areas of

Distribution, Commercial and Corporate staff.

In the case of Distribution, it will represent around two-thirds of the figure, about 800 employees, while about 250 will be from the Commercial area and another 150 from the Corporate area.

At the end of last September, Endesa's workforce amounted to almost 9,700 employees, so this plan will affect around 12% of the total.

TO INCORPORATE SOME 500 EMPLOYEES IN THE PERIOD.

In parallel, the energy company led by José Bogas plans to incorporate

a total of 500 new workers for that year

, which will partially rejuvenate its staff and renew the profiles it currently has for these functions.

At the end of last July, Endesa already signed a commitment with the unions for the voluntary departure of a maximum of 577 employees, in this case from its thermal power plants, affected by the change in the energy model, which is aimed at decarbonisation.

This commitment implied the accounting record of a provision with a non-recurring impact on the consolidated result estimated at 213 million euros, without effects on the shareholder's remuneration for this year.

The reorganization of the activities derived from the energy transition process was carried out through a process negotiated and agreed with the union representation, which through training measures allows the internal relocation of a part of the affected personnel.

PLAN TO 2030

Endesa foresees investments of 25,000 million between 2021 and 2030 to take advantage of the opportunities derived from both the National Integrated Energy and Climate Plan (PNIEC), the Government's 'roadmap' to address the energy transition in the next decade, as well as the funds for post-Covid recovery that will come from the European Union, according to the group's 2030 vision.

Of this investment effort by the energy company, 40% -

about 10,000 million euros - will be destined to increase the renewable generator park,

with the goal of reaching more than 18,000 megawatts (MW), with the incorporation of more than 10,000 additional MW to the group's operations at the end of 2020. Meanwhile, another 40% will go to the distribution network, which will raise the base of regulated network assets from 11.6 billion euros to 13 billion euros at the end of the period.

Within its strategic plan for the 2021-2023 period, Endesa will increase the volume of its investments for the next three years by 25%, in relation to the 2020-2022 strategic plan, to reach 7.9 billion euros.

Of this figure, 3,300 million will be destined to increase the renewable energy generating park, a figure that is 20% higher than in the previous plan.

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