Red Electrica de España : Resignation and appointment of directors.

SPANISH SECURITIES MARKET COMMISSION (Comisión Nacional del Mercado de Valores) C/Edison, 4

28006 Madrid

Madrid, 25 September 2018

Dear Sirs:

In accordance with the provisions of article 228 of the consolidated text of the Spanish Securities Market Act, I attach hereto the following relevant fact concerning Red Eléctrica Corporación, S.A.:

The Board of Directors of Red Eléctrica Corporación, S.A. (REC), at its meeting held today, September, 25th 2018, has agreed to accept the resignation tendered by Mr. Fernando Fernández Méndez de Andés and Mr. Santiago Lanzuela Marina as External Nominee Directors, representing Sociedad Estatal de Participaciones Industriales (SEPI), the State Industrial Holding Company, and to appoint in replacement of them, by co-optation, Mr. Antonio Gómez Expósito and Mrs. María Teresa Costa Campi, respectively, as External Nominee Directors representing SEPI until the first General Shareholders' Meeting of REC is held.

Yours sincerely,

Signed: Rafael García de Diego Barber

Secretary-General and Secretary of the Board of Directors