• The decision reflects the region’s growing strategic importance to Cox’s business, accounting for approximately 95% of its activity, where Cox has an investment plan of more than $7 billion.
• In recent months, the Group has announced the construction in Mexico of what will become the largest desalination plant in Latin America, as well as new energy projects in Panama and Guatemala and the launch of its first concession in Brazil.
• The new organization combines global corporate management from Spain, where the Group’s headquarters will remain and where the Service Co will be managed, while Panama will become the regional platform for the Americas and will manage the Asset Co.
• In Mexico, the management of all of the Group’s assets in the country will remain in place, given its strategic importance to Cox’s growth following the acquisition of Iberdrola México.
• Panama’s strategic location, connectivity and relevance as a key hub for financial institutions, multilateral organizations and international companies make it an ideal platform to drive Cox’s growth and execute its strategy in the region.

Madrid, September 16, 2026. Cox is establishing its regional headquarters for the Americas in Panama (a region encompassing the Group’s activities in North America, Central America and South America), further strengthening its commitment to a region where it conducts 95% of its business. The decision is aligned with the Group’s evolution and the growing importance of these markets to its operations.

The establishment of the regional headquarters in Panama comes amid strong growth for Cox in Latin America. The company has an investment plan of more than $7 billion for strategic water and energy projects in the region, aimed at developing critical infrastructure to support economic development and water and energy resilience in these markets. Panama’s geographical position, connectivity and importance as a meeting point for financial institutions, multilateral organizations and international companies make the country a strategic platform from which to support the company’s growth in the region.

The new organization will combine global corporate leadership with strengthened regional management, placing the executive team closer to the projects, clients and opportunities that will shape the company’s next phase of growth. Enrique Riquelme, Executive Chairman of the Group, will divide his time between Panama and Spain, maintaining a permanent connection between the European corporate platform, international financial markets and the Group’s main centers of activity.

This organizational evolution is therefore supported by a structure that combines global capabilities with regional management, with global corporate leadership from Spain, where the Group’s headquarters will remain and where the Service Co will be managed. Panama, meanwhile, will become the regional platform for the Americas, coordinating the development and management of the company’s main projects and investments in the region through the Asset Co. In Mexico, the management of all of the Group’s assets in the country will remain in place, given its strategic importance to its growth following the acquisition of Iberdrola México.

As part of this new phase, Enrique Riquelme, Executive Chairman of Cox, will relocate part of his activities to Panama to lead the execution of the Group’s growth strategy from the region. This strengthened presence will help accelerate the coordination of projects and investments, strengthen institutional and financial relationships, and bring decision-making closer to the markets where Cox conducts most of its business.

Supporting Strategic Projects Across the Region

The strengthened regional presence will provide closer support for strategic projects such as the Rosarito desalination plant, recently awarded in Mexico and set to become the largest in Latin America, as well as projects in Panama, where Cox has recently strengthened its position through the award of a long-term wind power supply contract. The company is also advancing new renewable generation and energy storage projects in Guatemala, strengthening the resilience and flexibility of the country’s electricity system.

In Brazil, Cox has also brought its first electricity transmission concession into operation ahead of schedule, as part of a platform through which it is already developing more than 1,500 kilometers of transmission lines and high-voltage substations, reaffirming its ability to execute complex projects and accelerate the energy transition across the region.

In this way, Cox continues to consolidate its position as a leading player in the development of water and energy infrastructure capable of addressing structural challenges such as water scarcity, climate resilience, access to clean energy and the modernization of critical infrastructure.

“Establishing Panama as Cox’s regional hub for the Americas puts into practice a decision that is fully aligned with the strategic roadmap approved by the Group, where being closer to our markets, our financial and institutional partners, and the major projects that will shape the future of water and energy in the region is key,” said Enrique Riquelme, Executive Chairman of Cox. “This geography is our top strategic priority, and this commitment strengthens an organization that is closer, more agile and better prepared to accelerate transformative investments, enhance our execution capabilities and continue generating sustainable long-term value.”