| 1 | Approve the 2011 financial statements and management report of Red Eléctrica Corporación, S.A. | For |
| 2 | Approve the 2011 Consolidated Financial Statements and the 2010 Consolidated Management Report of the Consolidated Group of Red Eléctrica Corporación, S.A. | For |
| 3 | Approve the dividend | For |
| 4 | Discharge the Board | For |
| 5.1 | Re-elect José Folgado Blanco | For |
| 5.2 | Elect Alfredo Parra García-Moliner | Oppose |
| 5.3 | Elect Francisco Ruiz Jimenez | Oppose |
| 5.4 | Elect Fernando Fernández Méndez de Andés | Oppose |
| 5.5 | Elect Ms. Paloma Sendín de Cáceres | Oppose |
| 5.6 | Elect Carmen Gómez de Barreda | For |
| 5.7 | Elect Juan Iranzo Martín | For |
| 6 | Appoint the auditors | Abstain |
| 7.1 | Amend Articles | Abstain |
| 7.2 | Amend Articles: Eliminate Article 34 | For |
| 8 | Amendment of the Regulations of the Shareholders’ Meeting | Abstain |
| 9.1 | Authorise Share Repurchase | For |
| 9.2 | Authority to allow executives to receive payment in shares | For |
| 9.3 | Void Previous Share Repurchase Authorization | For |
| 10.1 | Approve the Remuneration Report | Oppose |
| 10.2 | Approve fees payable to the Board of Directors | For |
| 11 | Ratification of the creation of the Company’s website. | For |
| 12 | Delegation of powers | For |
| 13 | Receive 2011 Corporate Governance Report | Non-Voting |
