Acciona S A : Company Overview (inglés)

November 2021

A C C I O N A

C o m p a n y O v e r v i e w

D I S C L A I M E R

This document has been prepared by ACCIONA. S.A. ("ACCIONA" or the "Company") exclusively for use during the

presentation of financial results. Therefore it cannot be disclosed or made public by any person or entity with an aim other than the one expressed above, without the prior written consent of the Company.

The Company does not assume any liability for the content of this document if used for different purposes thereof.

The information and any opinions or statements made in this document have not been verified by independent third parties nor audited; therefore no express or implied warranty is made as to the impartiality, accuracy, completeness or correctness of the information or the opinions or statements expressed herein.

Neither the Company, its subsidiaries or any entity within the ACCIONA Group or subsidiaries, any of its advisors or representatives assume liability of any kind, whether for negligence or any other reason, for any damage or loss arising from any use of this document or its contents.

The information contained in this document on the price at which securities issued by ACCIONA have been bought or sold, or on the performance of those securities, cannot be used to predict the future performance of securities issued by ACCIONA.

Neither this document nor any part of it constitutes a contract, nor may it be used for incorporation into or construction of any contract or agreement.

IMPORTANT INFORMATION

This document does not constitute an offer or invitation to purchase or subscribe shares, in accordance with the provisions of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC.

In addition, this document does not constitute an offer of purchase, sale or exchange, nor a request for an offer of purchase, sale or exchange of securities, nor a request for any vote or approval in any other jurisdiction.

Particularly, this document does not constitute an offer to purchase, sell or exchange or the solicitation of an offer to purchase, sell or exchange any securities.

This document includes references to a potential initial public offering of the ordinary shares of Corporación Acciona Energías Renovables, S.L. (referred to as "ACCIONA ENERGÍA"), following the re-transformation of the company into a sociedad anónima, which is under preliminary analysis by its sole shareholder, ACCIONA, and a decision has not been taken on whether to proceed with such transaction. Any purchase of or subscription for ordinary shares of ACCIONA ENERGÍA should be made solely on the basis of the information to be contained in a prospectus to be registered with, and approved by, the Spanish National Securities Market Commission (Comisión Nacional del Mercado de Valores, the "CNMV"), that is to be published in due course and which would supersede this document in its entirety. Once approved, the prospectus will be available at ACCIONA ENERGÍA's registered offices, on its corporate website and on the website of the CNMV (www.cnmv.es). The prospectus may contain information different from the information contained in this document.

Neither this presentation nor any part or copy of it may be taken or transmitted into the United States or published, released, disclosed or distributed, directly or indirectly, in the United States, as that term is defined in the United States Securities Act

of 1933, as amended (the "Securities Act"). Neither this presentation nor any part or copy of it may be published, released,

distributed or disclosed in Australia, Canada, South Africa or Japan. Any failure to comply with this restriction may constitute a violation of U.S., Australian, Canadian, South African or Japanese securities laws.

This presentation and the information contained herein are not a solicitation of an offer to buy securities or an offer for the sale of securities in the United States (within the meaning of Regulation S under the Securities Act). The ordinary shares of ACCIONA ENERGIA have not been, and will not be, registered under the Securities Act and may not be offered or sold in the United States absent registration under the Securities Act except pursuant to an exemption from, or in the case of a transaction not subject to, the registration requirements of the Securities Act and in compliance with the relevant state securities laws. There will be no public offering of the ordinary shares in the United States.

FORWARD-LOOKING STATEMENTS

This document contains forward-looking information and statements about ACCIONA and ACCIONA ENERGÍA, including financial projections and estimates and their underlying assumptions, statements regarding plan, objectives and expectations with respect to future operations, capital expenditures, synergies, products and services, and statements regarding future performance. Forward-looking statements are statements that are not historical facts and are generally identified by the words "expects", "anticipates", "believes", "intends", "estimates", "pipeline" and similar expressions.

Although ACCIONA believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of ACCIONA shares are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of ACCIONA, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the documents sent by ACCIONA to the CNMV, which are accessible to the public.

Forward-looking statements are not guarantees of future performance. They have not been reviewed by the auditors of ACCIONA or ACCIONA ENERGÍA. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date they were made. All subsequent oral or written forward-looking statements attributable to ACCIONA, ACCIONA ENERGÍA or any of its members, directors, officers, employees or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. All forward-looking statements included herein are based on information available to ACCIONA, on the date hereof. Except as required by applicable law, ACCIONA does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Results Report includes the list and definition of the Alternative Performance Measures (APMs) used both in this presentation and the Results Report, according to the guidelines published by the European Securities and Markets Authority (ESMA).

The definition and classification of the pipeline of ACCIONA ENERGÍA, which comprises both secured and under construction projects, highly visible projects and advanced development projects, as well as other additional opportunities, may not necessarily be the same as that used by other companies engaged in similar businesses. As a result, the expected capacity of ACCIONA ENERGÍA's pipeline may not be comparable to the expected capacity of the pipeline reported by such other companies,

A C C I O N A A T A G L A N C E

A leading greenfield developer and operator of sustainable Energy & Infrastructure assets

E N E R G Y : O N E O F T H E W O R L D ' S L A R G E S T O P E R A T O R S O F R E N E W A B L E G E N E R A T I O N

• 82,73% stake in ACCIONA ENERGÍA, listed on July 2021
• 10.7GW of installed capacity (Wind, Solar, Hydro, CSP and Biomass) as of Dec 2020
• 24.1TWh of production in 2020

I N F R A S T R U C T U R E S : D E L I V E R Y O F S O M E O F T H E M O S T C O M P L E X A N D H I G H - P R O F I L E P R O J E C T S I N T H E W O R L D

• €9.1bnof new project awards in FY2020 and €2.4bn in H1 2021

O T H E R A C T I V I T I E S : S U S T A I N A B L E P R O P E R T Y D E V E L O P M E N T A N D U R B A N M O B I L I T Y

C O N S T I T U E N T O F I B E X - 3 5 , S P A I N ' S B E N C H M A R K S T O C K I N D E X

• Market cap (current) ≈ €9.0bn
• Enterprise value ≈ €14.8bn
• Family owned company with more than 100 years of history

	G L O B A L P R E S E N C E 5 9 % O F I T S R E V E N U E S	F R O M I N T E R N A T I O N A L M A R K E T S
	C A R B O N N E U T R A L S I N C E 2 0 1 6 A N D A K E Y	P L A Y E R I N T H E L O W C A R B O N T R A N S I T I O N

REVENUES 2020 €6,472M

7%

19%

EBITDA 2020

€1,124M

74%

3

C O R E S T R E N G T H S

L E A D I N G D E V E L O P E R A N D O P E R A T O R O F E S S E N T I A L I N F R A S T R U C T U R E S M A K I N G A R E A L I M P A C T

› Strategy aligned with Sustainable Developments Goals challenge - long-term Growth Megatrends

› IPO of ACCIONA Energía - a major potential catalyst to accelerate profitable growth with Net Zero 2050 as horizon

S T A B L E A N D R E S I L I E N T B U S I N E S S D E L I V E R I N G U T I L I T Y - L I K E C A S H F L O W S

› ≈ 70% of EBITDA from contracted assets and LT infrastructure management contracts

S O L I D C A P I T A L S T R U C T U R E A N D H I G H L Y C A S H G E N E R A T I V E B U S I N E S S

› Virtually no maintenance capex - vast majority of capex is discretionary › Capacity to pursue significant growth-enhancing investment opportunities

S T R O N G G E O G R A P H I C D I V E R S I F I C A T I O N W I T H I N O E C D C O U N T R I E S

› Representing over 80% of revenues

C O N S I S T E N T T R A C K R E C O R D O F F I N A N C I A L R I S K M A N A G E M E N T A N D R E S I L I E N C E

› Demonstrated proactive response to challenging situations such as 2012-13 crisis and COVID-19 pandemic in 2020 › Dividend flexibility, capex modulation and divestments - established track record

› Prudent financial policy of <4.0x Net Debt/EBITDA consistent with dominant cashflow-generating asset business › IPO of ACCIONA Energía as significantly positive credit event

S U S T A I N A B L E D E V E L O P M E N T A S C O R N E R S T O N E O F T H E B U S I N E S S

› Family-owned company - cross-generational vision

›	Excellence in sustainability performance
›	Focus on maximising the positive contribution to society of our energy & infra projects	4

F I N A N C I A L R E S U L T S H I G H L I G H T S - F Y 2 0 2 0

FY 2020 (€m)

% Chg. vs FY 2019

FY 2020 (€m)

FY 2019 (€m)

Revenues	6,472	-10%	Net Investment
EBITDA	1,124	-22%
EBT	508	-7%	Net Financial Debt
of which Nordex contribution	79		Net Financial Debt (excl. IFRS16)
Attributable net profit	380	8%	NFD/EBITDA

526 FY 2020 (€m)

(1) 4,733

4,239

4.21x

1,241 FY 2019 (€m) 5,317 4,915

3.92x

PANDEMIC PROTECTION PLAN 2020		GROWTH POTENTIAL	ACCIONA'S BUSINESS MODEL
✓DELIVERED		✓REINFORCED	✓VALIDATED

1. Excludes debt associated with assets classified as held for sale (€260m corresponding to the holder of the Sydney Light Rail Restructure Investment Note)