Board of directors

An Independent Director at Nadara, Mikael has been active within Corporate Finance, M&A
and Business Development for the last 30 years.

Since 2015, he has been engaged as an advisor to investors and incumbents in
the energy infrastructure sector. Previously Mikael was employed for 17 years
with the energy company Vattenfall, where he acted for 11 years as VP/Director
and Head of Group Mergers and Acquisitions.

Prior to Vattenfall, Mikael was employed at a Swedish-based venture capital
group executing turnarounds of distressed companies, real estate portfolio and
debt restructuring.

Mark Walters is a Managing Director and Investment Principal in J.P. Morgan Asset Management’s Infrastructure Investments Group, which advises the investment vehicle that owns Nadara.

He serves on Nadara’s Board, representing the shareholders of that investment vehicle who are institutional investors, such as pension funds and insurance companies, and high net worth investors. He also serves on the board of Adven and GETEC.

Jaime is an Independent Director on the boards of Nadara, Nature Investments,
AENA Internacional, Canal de Isabel II and Pañalon.

He served as Minister of State for Commerce, International Trade and Foreign
Investment in the Government of Spain, as a Member of Parliament, and as an
economist at the Spanish Treasury, Banco de España and Spain’s President
Office.

Previously a Professor of Economics at IE Business School and CUNEF Business
School, Jaime has worked as a consultant to the OECD, the European Union and
the World Bank.

An expert in renewable energy and clean energy technology innovation,
Georgina is an Independent Director at Nadara.

She started her career at YPF in Argentina, a Director role at Booz Allen followed,
focusing mainly on energy and operations, before she joined the Directorate
General of Energy and Climate, part of the French Ministry of Ecology and
Energy.

Georgina later moved to ENGIE Group, becoming director of ENGIE Fab’s New
Business Factory. She holds an MSc in Chemical Engineering from the Instituto
Tecnologico de Buenos Aires and an MBA from INSEAD Business School.

An Independent Director at Nadara, Bruce is also a Senior Advisor at the
NorthBridge Group, a leading economic and strategic consulting firm serving
clients in the US electric and natural gas sectors.

For over 30 years he has advised energy companies, government agencies and
non-profits, most recently on greenhouse gas policies and the deployment of
low-carbon infrastructure.

Co-Chair of the Advisory Board of the Yale Center for Business and the
Environment and a board member of Directors of the Clean Air Task Force, he
holds an MBA from the Yale School of Management.

Steen is an internationally experienced senior executive and board member with over 30 years in the renewable energy sector. He brings deep expertise in strategy and governance, business development and organic growth, investment and M&A, as well as project development and project finance.

Steen currently serves on the board of Nature Investments, the holding company of Nortegas. He is the former board member and strategic advisor to Ventient Energy (2014–2023) and former board member of Sonnedix Power (2014–2021). All three companies fully or majority owned by institutional investors in the Infrastructure Investments Fund (IIF).

Since 2009, Steen has also chaired or served on the boards of multiple unlisted companies, public sector enterprises, institutions, and foundations. From 2014–2022, he served in local government as a Councillor, Committee member and Alderman for Infrastructure & Environment for the Municipality of Aarhus.

Earlier in his career, Steen held senior executive roles in listed companies, including Head of Wind Energy at Allco Finance Group, Senior Vice President, Sales & Marketing at NEG Micon (now Vestas), and CFO of Schouw & Co. He holds an MBA from Aarhus BSS and the University of Technology Sydney (UTS).

Alistair is an experienced senior executive, appointed as a non-executive director of Nadara in 2026. Prior to this, Alistair spent seven years serving as Chair at Electricity North West (ENWL), a £5bn regulated network company serving their 5 million customers. In the five years previous, he was senior partner of the UK energy practise at KPMG.

From 2003, Alistair spent 10 years as CEO of Ofgem (the UK’s gas and electricity markets regulator), during which he also sat on the Boards of Durham University (where he studied) and Scottish Water.

Alistair was awarded the civic honour – the CBE - by Queen Elizabeth II in 2008 for services to UK energy policy making. His early career was spent primarily in the financial services sector with investment banks, both in New York and London, where he was the top ranked investment analyst for several years running.

Chairman at Nadara, Mark is an experienced senior executive and board member with over 38 years of experience in European and UK energy infrastructure companies.

Since 2018, he has worked across a portfolio of European energy infrastructure businesses, leading on operational excellence, health and safety, and major utility transactions, while serving as a board member for a number of regulated network operators. Previously, Mark was CEO of Green Highland Renewables, and prior to that spent 26 years at SSE, including ten years on the executive team with responsibility for its £1.1 billion Networks division.

Mark is currently Chair of Nortegas Energía Grupo, the second-largest gas distribution business in Spain, Chair of Last Mile Infrastructure, a provider of multi-utility infrastructure in the UK, and a Non-Executive Director at Cadent Gas, the UK’s largest gas distribution business. He was previously a Non-Executive Director at Smart DCC, National Gas Transmission, and Southern Water, and is a past Chair of both the Energy Networks Association and EA Technology.

Mark has a Bachelor of Engineering in Electrical and Electronic Engineering from Heriot-Watt University, is a Chartered Engineer, a Fellow of the Institution of Engineering and Technology, and completed the INSEAD International Directors Programme in 2025.

Ross Rolfe is a highly experienced infrastructure and energy executive with more than 40 years of leadership experience across the energy, infrastructure and public sectors.

He most recently served as Chairman and Chief Executive Officer of Iberdrola Australia, where he led the business through a period of significant growth in renewable energy, battery storage and energy markets.

Ross has extensive board leadership experience, including serving as Chair of North Queensland Airports (NQA) until 2023, overseeing Cairns and Mackay Airports through a period of significant infrastructure investment and growth. He currently serves as Chair of the Clean Energy Council, Australia's peak renewable energy industry body.

Earlier in his career, Ross held a number of senior executive positions in the Australian energy sector, including CEO roles at major energy companies, and served as Director-General of several Queensland Government departments including Premier & Cabinet, State Development and Environment & Heritage.

He brings significant expertise in renewables, energy markets, governance, stakeholder engagement, public policy and large-scale infrastructure investment.