ENERGY WORKINGWITH LIMITLESSENERGY

CONTENTS6

Competitive advantages

16Photovoltaic

28 For

clients

7Only in

renewables

22Hydroelectric

power

32 Innovative company

A global company

9

24Thermal

renewables

36 Socially

committed

4Unique profile

10Wind power

26With the longest

experience

38 With a long term vision

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ACCIONA, profitability, development and sustainability

ACCIONA is a world leader in sustainable infrastructure solutions and renewable energy projects. Its offer covers the whole value chain, from design and construction to operation and maintenance. With a presence in over 40 countries, it carries out business activities with the commitment to contribute to the economic and social development of the communities where it operates.

ACCIONA's sustainability strategy works through its Sustainability Master Plan, a roadmap incorporating all the company´s initiatives in this field. The aim of ACCIONA is to lead the transition to a low-carbon economy. For this, it introduces quality criteria and innovation processes, aimed at optimizing efficient resource use and respecting the environment, in all its projects. The company has been carbon-neutral since 2016, offsetting all the CO2 emissions it generates but cannot reduce.

ACCIONA is present in selective sustainability indexes, such as FTSE4Good, Ethibel Sustainability Index (ESI) Excellence Europe, CDP Water Security A List 2018 and CDP Supplier Engagement Leader 2019, among others.

4

I UNIQUE PROFILE

ANNUAL DATA (2019)

Total electric power production (GWh) 22,991

EBITDA (million euros) 845

CO2 emissions avoided (million tons) 13

Annual investment (million euros) 608

Turnover (million euros) 1,997

THE BIG FIGURES

A global renewable energies operator

With 30 years' experience, we are present in the main clean technologies, currently prioritizing our developments in wind power and photovoltaic energy.

We are a global company with a presence in markets that are prioritizing the energy transition to a more sustainable model. We create customized solutions for corporate clients committed to reducing their carbon footprint and their energy costs.

Since 2015 (for the fifth successive year), we are the greenest utility in the world, according to the consultancy Energy Intelligence.

ACCIONA develops a great activity in renewable projects under its ownership, with more than 10,000 MW installed at the end of 2019 and more than 1,000 additional MW un-der construction in 2020. As a result, the company will soon exceed 11,000 MW of owned installed capacity.

ACCIONA is a global operator in renewable energies, the largest exclusively dedicated to clean energies worldwide.

2019 IMPLEMENTATION AND FORECAST (MW)

Installed capacity at 31.12.2019 10,117

Under construction in 2020 1,136

Installed+under construction capacity 11,253

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5

Source: in-house based on the 2019 report of Energy Intelligence New Energy Green Utilities.

NUMBER ONE AMONG THE 100 GREENEST UTILITIES IN THE WORLD

Waubra Wind Farm Australia

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(% renewable capacity)

(Kg CO2 /MWh)

100 %

80 %

60 %

40 %

20 %

0 %

200 0

EDF 9

Orsted 7

3 CGN

6 Ch. Three Gorges

2 E. ON

ACCIONA 1

EDP 8

10 Invenergy

400

4 Iberdrola

Next Era 5

6

I COMPETITIVE ADVANTAGES

With along-term vision

Sustainablecompany

In alltechnologies

Active inthe major ones

A global company In five

continents

The greatestexpertise

Across the entire value chainFor clients

Turnkey solutions

100% Renewables Only in clean energies

Innovativecompany

Strategic commitment

ResponsibleSocially

committed

12

3

45

6

7

8

Competitive advantages

7

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ONLY IN RENEWABLES IN THE MAIN TECHNOLOGIES1 2

8,823 MW7,977 MWWIND

PHOTOVOLTAIC

873 MW873 MWHYDROPOWER

61 MW61 MWBIOMASS

64 MW64 MWCSP

1,432 MW290 MW1,141 MW

1,136 MW10,117 MWTOTAL

Installedcapacity at 31.12.2019

Capacity under construction in 2020

11,253 MWTOTAL INSTALLED ANDUNDER CONSTRUCTION

846 MW

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I ONLY IN RENEWABLES

In the main technologies

ENERGY FOR7 MILLION HOMES

* Others: Costa Rica, Italy, Poland, Croatia and Hungary.

2019 TOTAL GENERATIONBY COUNTRY

Spain. 55.6 % Canada. 2.1 %

USA. 10.0 % India. 1.7 %

Mexico. 12.5 % Portugal. 1.8 %

Australia. 5.4 % Egypt. 1.4 %

South Africa. 2.3 %Chile. 3.2 % Others*. 4.1 %

22,991 GWhGENERATED

POWER GENERATION (GWh)

Total 22,087 22,991

Wind 18,179 19,201

Photovoltaic solar 705 1,536

Hydropower 2,581 1,720

Biomass 428 421

Concentrated solar 194 113

Total 2018

Total 2019

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PHOTOVOLTAIC

BIOMASS

HYDROPOWERWIND POWER

CSP

A M E R I C AA S I A A N D O C E A N I AE U R O P E A F R I C A

Canada Egypt Australia

USA South Africa India

Mexico

Chile

Costa Rica

A GLOBAL COMPANY IN FIVE CONTINENTS3

Spain

Poland

Italy

Portugal

Ukraine

Croatia

Hungary

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I TECNOLOGÍAS EÓLICAMount Gellibrand Wind Farm Australia

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ACCIONA is a world leader in the development, construc-tion, exploitation and operation and maintenance of wind power facilities.

With 7,977 total-MW under its ownership as of 31.12.2019, the company is one of the leading wind power developers and operators in the world. It has 225 wind farms in 14 countries on five continents.

In 2019, ACCIONA produced 19 TWh from wind, 83% of all the electricity generated by the company that year.

In 2020, ACCIONA plans to build new wind facilities totaling more than 800 MW in Mexico, Chile, the United States, Australia and Spain, which will gradually come into service.

AN INDUSTRY LEADER

The internationalization of the company has been a major feature in recent years. In 2016 its wind power assets in Spain represented 65% of the total, but in five years' time the figure will be 55%.

Expansion in the interim has focused on Mexico, the USA, Australia and Chile. In 2020-2021 the first two will surpass 1,000 MW of installed wind power capacity and Australia will be close to 600 MW.

ACCIONA also has wind farms in Italy, Poland, Portugal, Cro-atia, Hungary, Canada, Costa Rica, India and South Africa.

As well as its owned assets, to date ACCIONA has con-structed 1,875 MW for third parties in 61 wind farms lo-cated in 6 countries.

WIND POWER

Technologies

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I PERFIL DE LA COMPAÑÍA

A F R I C A

South Africa 138 MW

A S I A A N D O C E A N I A

Australia 435 MW (158 MW)

India 164 MW

A M E R I C A

Canada 181 MW

USA 866 MW (198 MW)

Mexico 740 MW (337 MW)

Chile 234 MW (78 MW)

Costa Rica 50 MW

E U R O P E

ACCIONA WIND POWERIMPLEMENTATION

Data at 31.12.2019Under construction in 2020

TOTAL INSTALLED ANDUNDER CONSTRUCTION

8,823 MW

I WIND POWER TECHNOLOGY

Spain 4.741 MW (75 MW)

Italy 156 MW

Portugal 120 MW

Poland 101 MW

Croatia 30 MW

Hungary 24 MW

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Nordex ACCIONA Windpowerwind turbine

with concrete tower

14

Waubra Wind Farm Australia

I WIND POWER TECHNOLOGY

15

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El Cortijo Wind Farm Mexico

San Román Wind Farm USA

16

ACCIONA has been a pioneering company in the installa-tion of large photovoltaic plants and has driven benchmark projects all over the world that stand out for the quality of their construction and operational efficiency.

Photovoltaic solar is now the second technology in terms of installed capacity among ACCIONA’s renewable assets, and the figure of 1,200 MWp installed is expected to be passed during 2020.

Puerto Libertad PV Plant is located in the Sonoran Desert and was developed in partnership with Tuto Energy. With a capacity of 405 MWp, it is the biggest renewable installa-tion built by ACCIONA to date, and one of the biggest pho-tovoltaic plants in Latin America.

GROWTH WITH LARGE PLANTS

In Chile, the company owns and operates El Romero Solar, a 246 MWp plant built in the Atacama Desert. One of its clients is Google’s datacenter in that country. Also located in the desert, in this case in Egypt, is the 186 MWp complex in Benban (Aswan), in an alliance with Swicorp.

Other large plants of ACCIONA are Sishen (94 MWp) in South Africa, Amareleja (46 MWp) in Portugal and Dymer-ka (57.6 MWp) in Ukraine.

In 2019, the company installed a second plant in Chile (62 MWp) and another two in Ukraine, totaling 42 MWp. In 2020, ACCIONA is building two other PV plants in Chile to-taling 290 MWp.

The company has also acquired a portfolio of photovolta-ic solar projects under development in the USA, totaling 3,000 MWp.

Technologies

PHOTOVOLTAIC

I PHOTOVOLTAIC TECHNOLOGY

17

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Dymerka photovoltaic complexUkraine

Photovoltaic plants at BenbanEgypt

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I TECNOLOGÍAS SOLAR FOTOVOLTAICAEl Romero Solar photovoltaic plant Chile

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A M E R I C A

Mexico 405 MWp

Chile 308 MWp (290 MWp)

A F R I C A

Egypt 186 MWp

South Africa 94 MWp

E U R O P E

Spain 3 MWp

Portugal 46 MWp

Ukraine 99 MWp

ACCIONA PHOTOVOLTAICIMPLEMENTATION

Data at 31.12.2019Under construction in 2020

TOTAL INSTALLED ANDUNDER CONSTRUCTION

1,432 MWp

20

I TECNOLOGÍAS SOLAR FOTOVOLTAICAPuerto Libertad Photovoltaic Plant Mexico

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22

ACCIONA has 76 hydropower plants in Spain with a to-tal capacity of 873 MW. The plants are located in seven regions: Aragon (691 MW), Navarra (89 MW), Can-tabria (48 MW), Catalonia (41 MW), Castille and Leon (4 MW), La Rioja (1.3 MW) and Valencia (1.3 MW).

Hydropower is the third ACCIONA's renewable technology in terms of capacity.

ACCIONA hydroelectric facilities are controlled from the company´s Renewable Energy Control Center in Navarre, coordinated with the area centers, which facilitates the efficient management of the system.

76 PLANTS IN OPERATION

Total 76 873

Spain 76 873

Country Number of plants Consolidated (MW)

ACCIONA HYDROPOWERIMPLEMENTATION

1

419

3713

1

1

Technologies

HYDROPOWER

Location and number of hydroelectric power stations

I HYDROELECTRIC POWER TECHNOLOGY

23

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Country Number of plants Consolidated (MW)

Interior view of the Seira Hydro Plant: 100 years old in 2018

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I THERMAL RENEWABLES TECHNOLOGY

Sangüesa Biomass Plant Spain

Nevada Solar One CSP Plant USA

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In the concentrated solar power (CSP) field, ACCIONA owns and operates the Nevada Solar One plant (64 MW), located in the Nevada Desert. Grid connected in 2007 with parabolic trough technology, it was the first CSP plant built in the world after the projects in California be-tween 1985 and 1991.

The company later built five 50 MW CSP plants in Spain under its ownership. They were acquired by Contour Global in 2018.

THERMAL RENEWABLES

In ACCIONA we are experts in the design, construction and operation of biomass plants for large-scale electricity ge-neration. We were pioneers in southern Europe when we grid connected the 30 MW biomass plant in Sangüesa (Na-varra). We have another two facilities in Briviesca (Burgos) and Miajadas (Cáceres), with capacities of 16 MW and 15 MW respectively.

Generation from biomass is a tool for rural development, territorial structuring and the fight against forest fires, among other advantages.

CSP BIOMASS

Technologies

Construction of El Cortijo Wind Farm (183 MW) Mexico

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I WITH THE LONGEST EXPERIENCE

Knowledge: with nearly two thousand employees, highly qualifiedand with expertise that is irreplaceable in the renewable energy industry.

PHOTOVOLTAIC HYDROWIND POWER BIOMASS

26 YEARS

23 YEARS

31 YEARS

23 YEARS

Three decades in the sector

WITH THE LONGEST EXPERIENCE4

13 YEARS

CSP

29

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Unique know-how throughout the entire value chain

PROJECTDEVELOPMENT

ENGINEERING ANDCONSTRUCTION

SUPPLY CHAIN PRODUCTION POWER MANAGEMENT AND TRADING

WIDE-RANGING KNOWLEDGE AND DEMONSTRATED RELIABILITY

30

I COMPANY PROFILE

First PV plant (Tudela)

1992 1993 1994

1995

1996 1997 1998 1999 2000

2001

2002

2003

2004 2005 2006 2007

First small hydro plants

El Perdón. First wind farm

First CSP plant (Nevada)

Turbine proprietary technology

First biomass plant (Sangüesa)

First wind turbine plant

Main milestones in our track record in renewables

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2008 2009 2010

2011

2012 2013 2014

2015

2016

2017

2018

2019

2020

2,105 MW acquiredfrom Endesa

Biggest wind farm (Oaxaca)

Sishen PV plant (South Africa)

Acquisition of AWP by Nordex

El Romero PV plant (Chile)

First wind+storage plant in Spain

Largest plant (Puerto Libertad, Mexico)

New countries: Egypt and Ukraine

First grid-connected floating PV plant in Spain

10,000+ owned-MW installed

32

I FOR CLIENTS

Every day, ACCIONA supplies renewable energy to cover the consumption of seven million homes in sixteen coun-tries on the five continents.

As a retalier, the company provides solutions adapted to the needs of all kinds of corporate clients who wish to re-duce their carbon footprint through the supply of clean, reliable, efficient and sustainable energy, either through PPA contracts or other contracting modalities, depending on the regulatory framework and client profile.

The company also manages the sale of energy to whole-sale markets from its own generation assets and those of other renewable developers it represents. This energy has a 100% renewable guarantee of origin in the markets where this mechanism exists, and the company partici-pates in international carbon markets.

Renewable energy supply

CUSTOMERS SUSTAINABLE CUSTOMIZED SOLUTIONS5

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Interface of Greenchain,the energy traceability system

developed by ACCIONA

Teatro Real of Madrid,one of ACCIONA´s renewable

energy customers

34

Long-term contracts (PPA)

Renewable energy is a highly interesting option for the growing number of companies that aim to improve the sustainability of their businesses and reduce their energy consumption.

To the absence of emissions and proximity to the point of consumption, other advantages can be added such as energy cost control and the improvement of a company's reputation and brand image.

Long-term contracts (power purchase agreements, PPAs) are increasingly used because they cover the price risk against the volatility of the market, allow the planning of a cost structure and guarantee reliable supplies at very com-petitive prices.

With more than 500 corporate clients, ACCIONA has ex-pensive experience in supplying renewable energy to com-panies from a wide range of sectors.

The company has signed PPAs with major clients such as Google, Falabella, the National Mining Company of Chile and Viva Energy, among others.

I FOR CLIENTS

35

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Current and previous customers.

36

I PERFIL DE LA COMPAÑÍA

ACCIONA Renewable Energy Control Center, CECOER

37

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INNOVATION STRATEGIC COMMITMENT

6

CECOER

THE LARGESTRENEWABLE ENERGYCONTROL CENTER IN THE WORLD

ACCIONA runs a Renewable Energy Control Center (CE-COER) at its headquarters in Navarre (Spain) for realtime supervision of the operation of installations belonging to the company or operated for third parties in 20 countries of five continents.

The CECOER manages data from more than 400 facili-ties with a total of over 15,000 MW including wind farms, photovoltaic, CSP and biomass plants, plus more than 270 transformer stations.

CECOER, which operates 24 hours a day 365 days a year, detects incidents in real time that occur at any facility and resolves them remotely 60% of the time. This results in elevated facility availability rates.

Based on its forecasting models, the Center also sends the operator of the Spanish electric grid (REE) over 3,000 production schedules annually with very low penalties for variations. It is constantly interacting with REE to enable the maximum integration of the renewable energy produced.

The CECOER has associated control centers in Chicago and Santiago de Chile.

38

I INNOVATIVE COMPANY

Technologies for the present and the future

ACCIONA makes a firm commitment to innovation as one of the ways to make the transition towards a more sustain-able energy model.

In 2019, the Energy Division invested 75 million euros in dif-ferent projects, mainly aimed at maximizing the efficiency of its operational assets and extending their working life.

ACCIONA works actively on the design of storage solutions with renewables, for example, those applied in the plants at Barásoain – the first wind power installation with batter-ies connected to the grid in Spain – and Tudela (photovol-taic + batteries), both in the region of Navarra.

The hybridization of organic photovoltaic panels placed on wind turbine towers or the use of blockchain technology to ensure the traceability of renewable energy generation are other examples of the company’s innovative capability in the energy field.

The company is a pioneer in the integration of renewables into the grid, with more than 4,000 MW of wind and hydro power authorized by the Spanish system operator (REE) to provide adjustment services for the electric power system.

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Hybridization project with organic solar panels on wind turbine towers developed by ACCIONA in the wind farm at Breña. Spain

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I SOCIALLY INVOLVED

ACCIONA is a company committed to the communities where it implements its projects. We seek to create value where we work, and to do this on a stable basis, as our pro-jects are designed to have a long working life.

We not only support energy projects that respect the en-vironment and favor global sustainability, but also initia-tives to improve basic community services in the areas of education, culture, sports, health and the environment.

Through the ACCIONA.org Foundation, the company has already provided over 14.000 solar panel sets for homes that are not covered by the electric power grid in Mexico, Peru and Panama.

The company carries out evaluation studies on the socio-economic footprint of its activities in strategic countries, where it assesses value and job creation among other variables.

Stable commitment to the community

RESPONSIBLE SOCIALLY COMMITTED

7

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Light at Home Programme Mexico

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I PERFIL DE LA COMPAÑÍACON VISIÓN A LARGO PLAZO

The process of the energy transition towards a low-carbon system that ensures its social, environmental and economic sustainability is now unstoppable. In an ever more electrified world, electricity generation will grow 57% by the middle of the century.

By 2050, two thirds of the world’s electricity will come from renewable technologies, in comparison to 26% at present, according to Bloomberg New Energy Finance.

The energy transition is already a great development opportunity for the planet as a whole.

Committed to the energy transition

A LONG-TERM VISION8

360º 2D Image of the El Perdón Wind Farm Spain

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This opportunity will mobilize around 9 billion dollars in new, emission-free generation capacity over the period. Of this figure, more than $8 billion correspond to wind and solar power technologies, where ACCIONA focuses its developments in re-newable energies.

ACCIONA is a company that is actively committed to decarbonization and works with a long-term perspective, applying this approach to designing the solutions that will make up the energy system of the future, starting today.

THE TRANSITION PROCESSIS ALREADY

UNSTOPPABLE

GLOBAL INVESTMENTIN NEW ELECTRICITY GENERATION2019-2050

(in billions of $ 2018)

5.3

4.2

1.9

0.8

0.7

0.3

WIND

SOLAR

GAS

COAL

Source: Bloomberg New Energy Finance, 2019.

NUCLEAR

HYDRO

44

I PERFIL DE LA COMPAÑÍA

48 // 49 UN LÍDER GLOBAL EN RENOVABLES

Puerto Libertad Photovoltaic Plant Sonora, Mexico

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ACCIONA is fully committed to the process of developing renewable energy through the controlled and profitable growth of the company over the long term based, among other things, on the following premises:

• Top quality management of its investments (over 2 billion dollars between 2016 and 2020).

• Optimization of the operation and maintenance of its installations.

ACCIONA is very well positioned to implement the Paris Agreement on Climate Change and is well placed in attractive markets with growth potential. It is already developing new business models within the industry and will undoubtedly be an active player in the spectacular boom that renewable energy will have in the short, medium and long terms.

ACCIONA will actively contribute to the development of renewable energy

ACCIONA STRATEGY CONTROLLED ANDPROFITABLE GROWTH:

Climate change

Cost reductions

Asset optimization

Attractive markets

Selective investment

New business models

Favorable global conditions

North America

55.E.Monroe Suite 1925Chicago, IL. 60603 USATel.: +1 312 673 30 00Fax: +1 312 673 30 01

Mexico

Juan Salvador Agraz, 61 Edificio Euro+Ten, piso 14Col. Santa Fe Delegación Cuajimalpa05370 Mexico D.F.Tel.: +52 55 4211 6700Fax: +52 55 5291 9948

India

The Millenia, No. 1&2 Tower C, 4th Floor, Unit 402, Lake Wing Murphy Road UlsoorBangalore - 560008Karnataka, IndiaTel.: +91 80 4155 7100Fax: +91 80 4155 7110

South Africa

4, Bree Street 15th Floor Portside Building8001 Cape Town, South AfricaTel.: +27 2 1912 5300Fax: +27 2 1913 9648

Australia

360, Elisabeth Street - Floor 38thMelbourne VIC 3004, AustraliaTel.: +61 3 9027 1000Fax: +61 3 9027 1001

Chile

Av. Isidora Goyenechea Nº 2800 Edificio Titanium, Oficina 3201, piso 327550647 La Portada Comuna Las Condes Región MetropolitanaTel.: +56 2275 15100Fax: +56 2275 15110

Costa Rica

Torres Paseo Colón, Piso 5Paseo de Colón10102 San José, Costa RicaTel.: +506 2505 5678Fax: +506 2505 5600

Portugal

Av. do Forte, 3 Edifício Suecia IV1º Floor A2794-038 Carnaxide, PortugalTel.: +351 214 24 18 10Fax: +351 210 49 61 79

Ukraine

17/52A, B. Khmelnytskoho Str.Suites 525, 526, 5th Floor01030 Kiev, UkraineTel.: +38 044 492 75 97

Poland

Lwowska, 19-1º00-660 Warszawa, PolandTel.: +48 22 5140 880Fax: +48 22 6717 416

Italy

Via Achille Campanile, 73, II Floor00144 Rome, ItalyTel.: +39 06 5051 4225Fax: +39 06 5014 551

Croatia

Zrinjsko-Franskopanska, 64/III21000 Split, CroatiaTel.: +385 21 340 660Fax: +385 21 340 661

Dominican Republic

Avda. Winston Churchill, 80 Piso 23, oficina 6, Blue Mall10127 Santo DomingoDominican RepublicTel.: +809 332 1166

Colombia

Carrera 11A Nº 98-50, Oficinas 601 y 602Bogotá, ColombiaTel.: +57 1 640 4027

Peru

C/ Coronel Reyes, 360 15046 Lima, PeruTel.:+51 967 773 334

Energy Division ACCIONA

Avda. de Europa, 10Parque Empresarial La Moraleja28108 Alcobendas, MadridTel.: +34 91 657 64 60 / 61Fax: +34 91 663 0759

Energy Division ACCIONA

Avda. Ciudad de la Innovación, 531621 SarrigurenNavarra, SpainTel.: +34 948 00 60 00Fax: +34 948 00 60 01

Singapur

7 Temasek Boulevard, #43-02A, Tower 1, Suntec City 038987 SingaporeTel.: +65 6513 0322

H E A D Q U A R T E R S

I N T E R N A T I O N A L O F F I C E S

www.acciona.com

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www.acciona.com

© April 2020 ACCIONA S.A. All rights reserved.

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