Global Dominion Access S.A.

Investor Presentation • Feb 2, 2022

2022 Santander Iberian Conference

C O R P O R A T E P R E S E N T A T I O N & F I N A N C I A L H I G H L I G H T S

D I S C L A I M E R

• This document has been prepared by Global Dominion Access, S.A. ("Dominion"), and is for information purposes only. No reliance may or should be placed for any purposes whatsoever on the information contained in this document or on its completeness, accuracy or fairness. This document and the information contained herein are strictly confidential and are being shown to you solely for your information. The information may not be copied, distributed, reproduced or passed on, directly or indirectly, in whole or in part, or disclosed by any recipient, to any other person (whether within or outside such person's organization or firm) or published in whole or in part, for any purpose or under any circumstances.
• This document is an advertisement and not a prospectus for the purposes of applicable measures implementing EU Directive 2003/71/EC (such Directive, together with any applicable implementing measures in the relevant home Member State under such Directive, the "Prospectus Directive") and as such does not constitute or form part of any offer to sell or issue or invitation to purchase or subscribe for, or any solicitation of any offer to purchase or subscribe for, any securities of Dominion or any of its affiliates or subsidiaries, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. Investors should not subscribe for or purchase any securities referred to in this advertisement except on the basis of the information contained in any prospectus eventually published in accordance with the Prospectus Directive. The information and opinions contained in this document are provided as at the date of the document and are subject to change.
• This document is not an offer of securities for sale in the United States, Australia, Canada or Japan. The information contained herein does not constitute an offer of securities for sale in the United States, Australia, Canada or Japan. Securities may not be offered or sold in the United States unless they are registered or are exempt from registration. No money, securities or other consideration is being solicited and, if sent in response to the information contained herein, will not be accepted. Copies of this document are not being, and should not be, distributed or sent into the United States. This document does not constitute an offer of securities to the public in the United Kingdom or in any other jurisdiction. The distribution of this document in other jurisdictions may also be restricted by law and persons into whose possession this document comes should inform themselves about and observe any such restrictions.
• This communication may contain forward-looking information and statements on Dominion, including financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, capital expenditures, synergies, products and services, and statements regarding future performance. Although Dominion believes that the expectations included in those forward-looking statements are reasonable, investors and shareholders are cautioned that forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond he control of Dominion, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking statements,
• Forward-looking statements are not guarantees of future performance. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date they were made. Except as required by applicable law, Dominion foes not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
• The information and opinions contained in this document are provided as at the date of the document and are subject to verification, completion and change without notice. Neither Dominion nor any of its parent or subsidiary undertakings, or the subsidiary undertakings of any such parent undertakings, or any of such person's respective directors, officers, employees, agents, affiliates or advisers, undertakes any obligation to amend, correct or update this document or to provide the recipient with access to any additional information that may arise in connection with it.

1. 2021 Highlights

• 1. We are DOMINION: equity story
  2. ✓ Reasons to invest
  3. ✓ Activity examples and details
  4. ✓ 2021 9M and 2020 Results

2021: very ambitious objectives to face a challenging year

After a better-than –expected 2020, we upgraded some of our strategic plan targets relative to 2021 …

… and have delivered excellent results despite important headwinds during the year.

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2021: a record year_

Annual Adjusted Turnover (1) (€m)

For the first time, we broke through the €1bn adjusted turnover barrier with strong quarterly performance.

Quarterly Net Income evolution 2019-2021E (€m)

Net income growth >25% vs 2019: we have maintained a rising net income every quarter underpinned by a continuous improvement of operational margins.

Operating Free Cash Flow Generation above strategic target_

Our Operating-FCF generation was greater than the payments required for growth (organic and inorganic) and for dividend distribution.

We are creating solid value for our shareholders_

Via dividend, share buy-back programs and a sustained growing EPS

Dividend distributed in 2021 against 2020 results

Dedicated in 2021 to complete DOMINION's first share buy-back program and start the second one

Sustained EPS Growth with a 17,4% CAGR since 2015

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In addition to the excellent results, we have continued to develop our strategic objectives for each of the business segments_

Contribution Margin (4) by segment* ⁓15%

Achieve the targeted contribution margin in B2B Services; and focus on creating an Environmental business area.

Unlock the value of the renewables business area in B2B 360 Projects: we have closed the deal with Incus, achieving a post-money valuation of over €213m and securing funding to continue developing the 1 GW+ pipeline.

Prepare the B2C segment for success in 2022 and beyond: we have enhanced the digitalization of this segment by bringing top quality management and forged strategic alliances to launch new brands and services.

B2B Services Highlights_

• ✓ Revenues have grown and the targeted contribution margin has been achieved (⁓12%), with consistent QoQ improvements.
• ✓ We see the Environmental business as an area of development; hence we have created a business unit with this focus and the ambition to grow both organically and inorganically.

Highlighted Contracts

• We have gained new strategic contracts in energy, telco and industry.
• We have grown exponentially in energy contracts with different clients and geographies.
• We have further developed countries with historical low presence, such as Colombia, with electrical distribution (ENEL) and fiber optic services (CLARO).
• We acquired Tankiac, a company specialized in industrial cleaning and waste management.

B2B 360 Projects Highlights_

• ✓ The segment has improved both revenue and profitability levels compared to 2019.
• ✓ The incorporation of a minority partner (Incus) in Dominion Energy has resulted in a post-money valuation of over €213m and has brought funds to assist with the development of our 1GW+ pipeline with an IPP approach.

Highlighted Projects

• We have completed the deployment of a 253 km electricity transmission line in Angola, a project with a recent scope increase assigned to us.
• We have completed a 66MW wind farm in México and started a new 79MW solar plant in the Dominican Republic.
• 2022 will see the kick-start of the Buin-Paine hospital in Chile.
• A healthy book-to-bill ratio will maintain our backlog above the €600m.

B2C Highlights_

Number of services

Electricity, Gas & Telecommunication services

Growth continues, despite macro environment

• Over 280,000 services: we have acquired around 40,000 new net customers during the year and doubled Telco subscriptions.
• New brands and products have been launched during 2021.
• Growth, despite the Omicron variant has directly impacted Christmas campaign and electricity prices have impacted our energy commercial proposition reducing the client base.

The future ahead

• The transformation of the business to a personal and household services integrator, its digitalization and the revamp of the corporate management structure have set the business up for success in the years to come.
• We are diversifying into new channels to sell our services.
• We aim to sign PPAs, which will improve our energy commercial proposition.

Renewable energy business minority shareholder incorporation

A value creation roadmap

2016-2020	2016	Dominion sets up 'Dominion Energy' and embarks in the renewable energy business.
_	2018	Purchase of a minority stake in BAS (financial sponsor) and completion of a 360 view.
LATAM	2018-2020	Execution of several projects in LATAM, with subsequent divestment (Build & Sell).
Build & Sell Strategy	>2019	Identification and development of a 1GW+ pipeline, diversifying into European projects.
2021-future _ LATAM + Europe IPP. Build & Hold Strategy	2021 2021-2025 2023–2025	Capital increase with Incus Capital taking a minority stake. First step on the value creation roadmap Development, construction and operation of Build & Hold projects 1GW+. Potential new liquidity and value creation deals.

Renewable energy business minority shareholder incorporation

Incus Capital brings €50m and subscribes to 23.4% of Dominion Energy

Post-money valuation: €213.75m

Discounted as minority stake taken

1. 2021 Highlights

• 1. We are DOMINION: equity story
  2. ✓ Reasons to invest
  3. ✓ Activity examples and details
  4. ✓ 2021 9M and 2020 P&L

W E A R E D O M I N I O N : E Q U I T Y S T O R Y

We are Dominion_

We are a global company that provides Services and endto-end Projects, with almost 10,000 employees distributed in 35 countries.

Our objective is to provide comprehensive solutions that maximize the efficiency of business processes by implementing innovative technology and a different approach.

Our activity fields are Technology & Telecommunications, Industry and Energy.

Our global revenue is more than €1,000m .

We are a publicly listed company since 2016 (BME:DOM).

	AMERICA

USA	Ecuador
Canada	Haiti
Mexico	Honduras
Colombia	El Salvador
Peru	Dominican
Brazil	Republic
Argentina

UK	Netherlands
Germany	Slovakia
Italy	Russia
Denmark	Morocco

Portugal Poland

Slovakia
Russia
Morocco
Angola
South Africa

	SIA & OCEANIA
--	---------------	--	--	--	--	--

Australia	Qatar
Philippines	United Arab
Indonesia	Emirates
Vietnam	Saudi Arabia
India	Bahrein
Oman

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More than 20 years diversifying by the hand of disruption _

1 9 9 9			Our link to global trends and the evolution of our businesses have lead us to develop multi-sector knowledge and to work in different activity fields		2 0 2 2
	Technology & Telecommunications (1999-today)		Industry (2014-today)	Energy (2016-today)	B2C (2017-today)
Disruptive paradigm	Digital revolution and new • technology developments	In Spain: liberalization of • the telco sector	The industrial crisis • highlights the need for restructuring and productive efficiency	New global energy • model	The revolution of • personal services and the internet-connected household
Response	In 1999 the investment group INSSEC committed for a technology project and set up Dominion Global At the same time, the group created CIE Automotive	We position ourselves as an integrator and maintainer of networks We implement technology to respond to a deflationary environment that is continually adjusting costs	We transfer our experience in telco into the industrial sector, in order to define a value proposal based on technology and efficiency	We position ourselves in evolving areas: Renewable energy • Electricity grids •	We develop our proposal to be the integrator of all personal and household services
Milestones/ projects	• Turnkey projects in healthcare, education and alert systems	• O&M contracts with several telco operators	• Industrial infrastructures • One-Stop-Shop O&M • Industry 4.0 projects	• Solar parks and wind farms • Transmission lines • Charging stations	• Smart House: technology and household services

W E A R E D O M I N I O N : E Q U I T Y S T O R Y

We are Dominion_

Business segments and key figures

"Tier 1 supplier and digital expert capable of end-to-end execution of projects: from project design and management to subsequent O&M"

B2B 360 Projects Major projects to create new infrastructures

• Project backlog

• CM ≈ 15%

"Multi-service supplier bringing together a full range of personal and household services in a single omnichannel platform"

B2C

Energy and gas supply, telco and data services, insurances and others

• Recurrent revenue

• Client base and Average Lifetime Value

Dominion: reasons to invest_

• 1. A different value proposition: end-to-end vision of the value chain in the B2B and B2C
• 1. A management model and an experienced team: focused on value creation
• 1. A recurrent generation of operating FCF: + €220m generated 2015-2020
• 1. A profitable growth story: Turnover 16% CAGR, Net Income 23% CAGR (2015-2020)
• 1. Ambitious objectives: to double the Net Income by 2023
• 1. ESG: committed to our stakeholders

1. A different value proposition_

B2B: Tier 1 supplier and digital expert capable of end-to-end execution of projects: from project design and management to subsequent O&M

1. A different value proposition_

B2C: Multi-service supplier bringing together a full range of personal and household services in a single omnichannel platform

W E A R E D O M I N I O N : E Q U I T Y S T O R Y

2. A management model and an experienced team_ The 4 Ds, the 4 pillars of our management model to focus on value creation

Disruption: new ways of doing things to approach new challenges Technological focus and vitality: knowledge of available technology to apply it to our services and projects Cross-functional: platforms applicable to different industries and sectors 3 segments: B2B services, B2B 360 projects and B2C Activity fields: multi-sector and multi-technical approach Geographies: 5 continents, > 35 countries Clients: more than 1,000 Entrepreneur-minded management: management independence over their business areas/ divisions Lean and flexible corporate structure: well measured central services Operational Leverage Profitability: ongoing evaluation and control of operations profitability ratios Cash flow: focus on FCF generation M&A and Capex: strict return discipline Digitalization Diversification Decentralization Financial Discipline

"It is not what we do, but how we do it"

2 1

3. A recurrent generation of operating FCF_

• €220m generated 2015-2020

Operating FCF (6) conversion from EBITA 2015-2020 (€m)

W E A R E D O M I N I O N : E Q U I T Y S T O R Y

4. A profitable growth story_

Operating leverage: strong organic growth and operational leverage

Turnover (1) 2015-2020 (€m) Net Income (3) 2015-2020 (€m)

5. Ambitious objectives: our guidance for the 2019-2023_

• Net Income x2 to reach €64m in 2023
• Turnover >5% CAGR
• EBITA >10% CAGR

• M&A as an accelerator

• 1/3 of the net income

• Distributed for the first time in 2020

• Free Cash Flow Conversion >75% EBITA

• RONA >20%
• DFN/EBITDA < x2
• Capex ≈ Amortization and steady WC
• Overhead cost ≈3% on Revenue

W E A R E D O M I N I O N : E Q U I T Y S T O R Y

6. ESG: committed to our stakeholders_

A P O S I T I V E F O O T P R I N T

ENVIRONMENTAL

SOCIAL

W E T A K E C A R E O F P E O P L E

A C O M M I T T E D G O V E R N A N C E

A C T I V I T Y E X A M P L E S

Relevant examples of Dominion's activity_

B2B 360 projects: from the design to the operation and maintenance

Turnkey projects and O&M of renewable energy plants

Kaixo solar plant (México)

Dominion delivered a turnkey project to build the largest self-supply photovoltaic plant in Mexico (2017), with 65 MW installed capacity and more than 200.000 panels.

Currently Dominion provides O&M services in the plant, which were included in the scope of the project.

Technology integration and O&M in hospitals

Antofagasta Hospital (Chile)

Dominion managed the implementation and commissioning of the medical equipment and technological infrastructure in the Antofagasta hospital. Additionally, Dominion will be in charge of the O&M and the technology revamping for the next 15 years.

The concession structure used in this hospital has been a successful case study and will be followed in the current investment plant of the country.

Design, construction and O&M of industrial infrastructures

Domes for ALBIOMA (Reunion Island, France)

Dominion designed and managed the construction of two wood pellets storage domes for Albioma's import terminal in Reunion Island.

Each structure has a diameter of 50m and a total height of 38,95m for a unit storage capacity of 45,000 m3.

The construction of the first dome was finished on the estimated time before the start of the cyclone season.

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A C T I V I T Y E X A M P L E S

Relevant examples of Dominion's activity _

B2B Services: O&M with technology as value added

Deployment and O&M of electricity lines

Distribution lines for Enel (Peru, Colombia and Chile)

Dominion undertakes the deployment, commissioning and maintenance of electricity distribution lines (low and medium voltage) for ENEL in Peru, Chile and Colombia since 2019.

The global capabilities of Dominion, which ensure the same quality and service level in every part of the world, are one of the key factors that the client values most.

Industrial O&M service under One Stop Shop scheme

Leading chemical producer (Spain)

Dominion manages and centralizes a wide range of O&M services, including, among others, logistics management, electromechanics maintenance and the implementation of digital transformation improvements.

Dominion provides these services in the Spanish plants of a leading chemical company.

Digital transformation to achieve energy efficiency

Gonvarri (International production plants)

Dominion implemented and manages since 2016 an energy consumption control and monitoring solution for a leading automobile components manufacturer. Thanks to it, the client has maximized the energy efficiency of 17 production plants in 9 different countries.

Dominion designs, implements and operates digital transformation solutions in this and other activity areas.

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A C T I V I T Y E X A M P L E S

B2C: from a retailer to an integrator of personal and household services_

Retailer (Pre-2017)

B U S I N E S S M O D E L

• Activity: 3rd parties' products sale.
• Clients ownership: 3rd parties.
• Income: from customer acquisition (one-off).

A C T I O N S I N 2 0 1 9

• Product diversification to increase customer traffic in every distribution channel.

Smart House (Post 2018)

B U S I N E S S M O D E L

• Activity: integrated services provision.
• Client ownership: Dominion.
• Income: from operations (recurrent).

A C T I O N S P O S T 2 0 1 9

• Acquisition of an electricity and gas supplier.
• Launch of our own telco services.
• Take-off of own device-renting services.
• Alliance with third parties to unveil new brands and distribution channels
• Full revamp of all digital systems

2 0 2 1 9 M R E S U L T S

2021 9 months P&L evolution_

We are growing at high rates compared to 2019, with growth levels above the historical average.

(€m)	2019 9M	2021 9M vs 2019 9M**	2020 9M	2021 9M vs 2020 9M*	2021 9M
Turnover	807.3		712.8		832.0
Adjusted Turnover(1)	654.6	15%	613.8	23%	752.2
EBITDA (2)	71.7	12%	48.2	67%	80.6
% EBITDA on Turnover	11.0%		7.9%		10.7%
EBITA(2)	40.5	17%	16.8	183%	47.4
% EBITA on Turnover	6.2%		2.7%		6.3%
EBIT (2)	36.8	21%	13.4	232%	44.5
% EBIT on Turnover	5.6%		2.2%		5.9%
Net Income (3)	24.7	22%	4.1	644%	30.2
% Net Income on Turnover	3.8%		0.7%		4.0%

* Scope of consolidation changes compared to 9M 2020 due to: i) the exclusion of 6 months' results of Telco services activities divested in 2020; ii) the inclusion of 9 months of bolt-on acquisitions carried out in 2020; and iii) the inclusion of 8 months of Tankiac and 6 months of MINISO (2021 acquisitions).

** The scope of consolidation varies compared to 9M 2019 due to: i) the exclusion of the results of 6 months of Telco services activities (divested in 2020) and 9 months of non-strategic IT activities (divested in 2019); ii) the inclusion of 8 months of Tankiac and 6 months of MINISO (acquisitions 2021); 9 months of bolt-on acquisitions carried out in 2020; and 1 month of Bygging India and 2 months of Alterna (acquisitions 2019).

2020 results_

(€m)	2019	%	2020
Turnover	1,149.3	-10%	1,029.6
Adjusted Turnover(1)	947.3	-4%	911.0
EBITDA (2)	103.7	-23%	80.0
% EBITDA on adjusted turnover	11.4%		8.8%
EBITA (2)	63.1	-43%	36.1
% EBITA on adjusted turnover	6.7%		4.0%
EBIT (2)	56.7	-44%	31.6
% EBIT on adjusted turnover	6.0%		3.5%
Net Income from continuing operations	39.2	-68%	12.6
% NI from continuing operations on adjusted turnover	4.1%		1.4%
Net Income (3)	32.9	-62%	12.5
% Net Income on adjusted turnover	3.5%		1.4%

• The consolidation perimeter is reduced compared to 2019 because of the divestments carried out during the year*.

• The operating margin includes a negative net impact of one-offs (€10m approximately).

*FY 2020 consolidated perimeter differs from 2019 because : i) It includes 1 month of Bygging India and 2 months of Alterna; ii) It does not include 9 months of non-strategic IT activities divested during 2019 ;

iii) It does not include 6 months of the Telco service contract in Spain divested during 2020.

2 0 2 0 R E S U L T S

Balance sheet_

"A strong balance sheet, with a steady positive net cash position"

Balance sheet (€m)	DECEMBER 2019	DECEMBER 2020
Fixed Assets	472.6	479.5
Net Working Capital	(170.3)	(191.6)
Total Net Assets	302.3	287.9
Net Equity	353.7	319.7
Net Financial Debt (5)	(113.4)	(87.4)
Others	62.1	55.5
Total Net Equity and Liabilities	302.3	287.9

Debt (€m)	DECEMBER 2019	DECEMBER 2020
Gross Debt	88	191
Liquid Assets and Equivalents	(201)	(279)
Net Financial Debt (5)	(113)	(87)
NFD / EBITDA	<0	<0

€17m of earn outs, payable from 2021 to 2027

Glossary_

(1) Adjusted turnover: Annual Accounts Turnover excluding revenues from sold devices

(2) EBITDA: Net Operating Income + Depreciation

EBITA: Net Operating Income + PPA's

EBIT: Net Operating Income

• (3) Net Income or Net Attributable Income: if not indicated otherwise, it refers to the Net Income from continuing operations
• (4) Contribution Margin: EBITDA before corporate structure and central administration costs
• (5) Net Financial Debt: Financial Debt (Long and short Term) +/- Derivative financial instruments Cash and Short-Term Investments
• (6) Free Operating Cash Flow: EBITDA difference between CAPEX and Amortization NWC variation Net Financial Income Tax payment; (acquisitions excluded)
• (7) RONA: EBITA / (Total non-current assets Deferred assets Goodwill not associated to cash + PPAs amortization current year +Net WC ; excluded acquisitions of the year).
• (8) WC: Working Capital

We help our clients transform to become more efficient.

We apply technology to make this happen.

We are Dominion.

Headquarters

Ibáñez de Bilbao, 28 8º A y B 48009 BILBAO (SPAIN) Phone: (+34) 944 793 787

dominion-global.com

© Dominion 2020