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AVANGRID Announces Four New Nominees For Election To Its Board of Directors

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Board refresh would increase diversity

AVANGRID, Inc. (NYSE:AGR), today announced that its Board of Directors
has nominated four new director candidates for election at its 2019
Annual Meeting, which will be held on June 27, 2019 at 8:30 a.m. EDT at
WilmerHale in Boston, Massachusetts. The nominees, who will join 10
current directors standing for re-election, are:

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

"I am pleased to announce the nominations of Robert, Teresa, Patricia
and Sonsoles to the AVANGRID Board," said Ignacio Sanchez Galán,
Chairman of the Board. "Each candidate brings a wealth of knowledge and
expertise in areas important to our business, including policy, finance
and accounting and risk management. This is a significant step in our
commitment to ensuring best-in-class governance practices through
refreshing our board, with an eye toward further diversification."

If elected at the Annual Meeting, the addition of these four individuals
would increase the percentage of women on the Board to nearly 36% and
the number of independent board members to 50%. AVANGRID has added six
new directors over the past four years and is committed to continuously
reviewing and enhancing the composition of its Board to benefit from a
diversity of perspectives and experiences in a consistently evolving
industry.

For more information about the Annual Meeting and the experience and
qualifications of the nominees for election at the Annual Meeting,
please see AVANGRID's definitive proxy statement filed with the
Securities and Exchange Commission (the "SEC") on April 29, 2019, and
available in the Annual
Shareholder Meeting
section of www.avangrid.com.

Pedro Azagra Blázquez, Arnold L. Chase, and Alfredo Elías Ayub, who each
served on the board since 2014, 2015 and 2014, respectively, and whose
terms expire on the day of the 2019 Annual Meeting, will not be standing
for re-election.

Mr. Galán concluded, "I want to thank Pedro, Arnold and Alfredo for
their service to the Board. We are grateful for their many contributions
during their tenure as directors, and the company will benefit from
their contributions for years to come."

 

About AVANGRID: AVANGRID, Inc. (NYSE:AGR) is a leading,
sustainable energy company with approximately $32 billion in
assets and operations in 24 U.S. states. AVANGRID has two primary
lines of business: Avangrid Networks and Avangrid Renewables.
Avangrid Networks owns eight electric and natural gas utilities,
serving 3.2 million customers in New York and New England.
Avangrid Renewables owns and operates 7.1 gigawatts of electricity
capacity, primarily through wind power, with a presence in 22
states across the United States. AVANGRID employs approximately
6,500 people. AVANGRID supports the U.N.'s Sustainable Development
Goals and was named among the World's Most Ethical Companies in
2019 by the Ethisphere Institute. For more information, visit www.avangrid.com.

 

Additional Information and Where to Find It

This release may be deemed to be additional soliciting material with
respect to the solicitation of proxies by the Board of Directors of the
Company with respect to the Company's annual meeting of shareholders to
be held on June 27, 2019 (the "Annual Meeting"). The Company filed its
definitive proxy statement and accompanying proxy card relating to the
Annual Meeting (the "Proxy Statement") with the SEC on April 29, 2019.
The Proxy Statement and the Company's 2018 Annual Report to Shareholders
were first made available to shareholders on or about April 29, 2019.
Shareholders can obtain the Proxy Statement, any amendments or
supplements to the Proxy Statement and other documents filed by the
Company with the SEC for no charge at the SEC's website at www.sec.gov.
Copies of the proxy materials are also available to shareholders at no
charge at www.proxyvote.com
or by writing to the Company's Corporate Secretary at AVANGRID, Inc.,
180 Marsh Hill Road, Orange, Connecticut 06477.

Forward Looking Statements

This news release contains a number of forward-looking statements.
Forward-looking statements may be identified by the use of
forward-looking terms such as "may," "will," "should," "would," "could,"
"can," "expect(s)," "believe(s)," "anticipate(s)," "intend(s),"
"plan(s)," "estimate(s)," "project(s)," "assume(s)," "guide(s),"
"target(s)," "forecast(s)," " are (is) confident that" and "seek(s)" or
the negative of such terms or other variations on such terms or
comparable terminology. Such forward-looking statements include, but are
not limited to, statements about our plans, objectives and intentions,
outlooks or expectations for earnings, revenues, expenses or other
future financial or business performance, strategies or expectations, or
the impact of legal or regulatory matters on business, results of
operations or financial condition of the business and other statements
that are not historical facts. Such statements are based upon the
current reasonable beliefs, expectations, and assumptions of our
management and are subject to significant risks and uncertainties that
could cause actual outcomes and results to differ materially. Important
factors are discussed and should be reviewed in our Form 10-K and other
subsequent filings with the SEC. Specifically, forward-looking
statements include, without limitation: the future financial
performance, anticipated liquidity and capital expenditures; actions or
inactions of local, state or federal regulatory agencies; success in
retaining or recruiting our officers, key employees or directors;
changes in levels or timing of capital expenditures; adverse
developments in general market, business, economic, labor, regulatory
and political conditions; fluctuations in weather patterns;
technological developments; the impact of any cyber breaches or other
incidents, grid disturbances, acts of war or terrorism or natural
disasters; the impact of any change to applicable laws and regulations
affecting operations, including those relating to environmental and
climate change, taxes, price controls, regulatory approval and
permitting; the implementation of changes in accounting standards; and
other presently unknown unforeseen factors. Additional risks and
uncertainties are set forth under the "Risk Factors" in the AVANGRID,
Inc. Annual Report on Form 10-K for the year ended December 31, 2018 and
Quarterly Report on Form 10-K for the three months ended March 31, 2019,
which are on file with the SEC. Should one or more of these risks or
uncertainties materialize, or should any of the underlying assumptions
prove incorrect, actual results may vary in material respects from those
expressed or implied by these forward-looking statements. You should not
place undue reliance on these forward-looking statements. We do not
undertake any obligation to update or revise any forward-looking
statements to reflect events or circumstances after the date of this
press release, whether as a result of new information, future events or
otherwise, except as may be required under applicable securities laws.

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