Microsoft Word - 36607372_1.docx Julián Martínez-Simancas

General Secretary and Secretary to the Board of Directors

Bilbao, 25 March 2015

To the National Securities Market Commission

Re: Periodic information about the share buy-back programme of

Iberdrola, S.A.

Dear Sirs,
Reference is made to our notice of significant event (comunicación de hecho relevante) of 17 February 2015 (official registry number 218,696), relating to the buy-back programme of own shares approved by the Board of Directors of Iberdrola, S.A. (the "Company") in accordance with the authorisation granted by the General Shareholders' Meeting held on 28
March 2014, under item nine of the agenda (the "Buy-back Programme").
Pursuant to article 82 of Law 24/1988 of 28 July on the Securities Market (Ley 24/1988, de 28 de julio, del Mercado de Valores) and related provisions, and in accordance with the provisions of article 4.4 of the Commission Regulation (EC) No 2273/2003, of 22 December
2003, we hereby inform you that between 19 and 25 March 2015, the Company has carried out the following transactions over its own shares under the Buy-back Programme:

Date Security Transaction Number of securities Price (€)

19/03/2015 IBE.MC Acquisition 4,000 6.005

20/03/2015 IBE.MC N/A N/A N/A

23/03/2015 IBE.MC Acquisition 250,000 6.143

24/03/2015 IBE.MC Acquisition 700,000 6.181

25/03/2015 IBE.MC Acquisition 677,210 6.109

NOTICE. This document is a translation of a duly approved Spanish language document, and is provided for informational purposes only. In the event of any discrepancy between the text of this translation and the text of the original Spanish language document which this translation is intended to reflect, the text of the original Spanish language document shall prevail.

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This information is provided to you for the appropriate purposes. Yours faithfully,

General Secretary and Secretary to the Board of Directors

NOTICE. This document is a translation of a duly approved Spanish language document, and is provided for informational purposes only. In the event of any discrepancy between the text of this translation and the text of the original Spanish language document which this translation is intended to reflect, the text of the original Spanish language document shall prevail.

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IMPORTANT INFORMATION


This communication does not constitute an offer to purchase, sell or exchange or the solicitation of an offer to purchase, sell or exchange any securities. The shares of Iberdrola, S.A. may not be offered or sold in the United States of America except pursuant to an effective registration statement under the Securities Act or pursuant to a valid exemption from registration.

NOTICE. This document is a translation of a duly approved Spanish language document, and is provided for informational purposes only. In the event of any discrepancy between the text of this translation and the text of the original Spanish language document which this translation is intended to reflect, the text of the original Spanish language document shall prevail.

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