Acciona S.A.

Investor Presentation • Jul 28, 2022

COMISION NACIONAL DEL MERCADO DE VALORES

Madrid, 28 de julio de 2022

Muy Sres. nuestros:

Dear Sirs,

ACCIONA adjunta presentación en inglés que se seguirá en la multiconferencia de mañana día 29 de julio, a las 10:00h (CET). La presentación podrá ser seguida vía webcast a través de la Web de ACCIONA (www.acciona.com)

ACCIONA attaches the presentation to follow the conference call to be held tomorrow 29th July at 10:00am (CET). The presentation can be followed via webcast through Acciona's website (www.acciona.com)

Atentamente/Yours faithfully,

Jorge Vega-Penichet López Secretario del Consejo Company Secretary

RESULTS PRESENTATION

$H1$ 2022 - January - June

29^th July 2022

A C C I O N A H 1 2 0 2 2 R E S U L T S

DISCLAIMER

This document has been prepared by ACCIONA. S.A. ("ACCIONA" or the "Company" and, together with its subsidiaries, the "ACCIONA Group") exclusively for use during the presentation of financial results. Therefore it cannot be disclosed or made public by any person or entity for any other purposes without the prior written consent of the Company. The Company does not assume any liability for the content of this document if used for any purposes different from the one outlined above.

The information and any opinions or statements made in this document do not purport to be comprehensive and have not been verified by independent third parties nor audited, and in some cases are based on management information and estimates and are subject to change; 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. Certain financial and statistical information contained in this presentation may be subject to rounding adjustments.

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, may not and should not be used to predict the future performance of securities issued by ACCIONA.

Neither this document nor any part thereof constitutes and may not be relied on in any manner as, legal, tax, investment, accounting, regulatory or any other type of advice on, about or in relation to the Company nor may it be used or relied upon in connection with, form the basis of, or for incorporation into or construction of, any contract or agreement or investment decision.

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 solicitation 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.

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 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 the ACCIONA Group, 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 in the documents filed by ACCIONA with 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 the ACCIONA Group. 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, the ACCIONA Group or any of its respective 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.

The Results Report contains certain non-IFRS financial measures of the Company derived from (or based on) its accounting records, and which it regards as alternative performance measures (APMs) for the purposes of Commission Delegated Regulation (EU) 2019/979 of March 14, 2019 and as defined in the European Securities and Market Authority Guidelines on Alternative Performance Measures dated October 5, 2015. The Results Report includes the list and definition of the Alternative Performance Measures (APMs) used both in this presentation and the Results Report. Other companies may calculate such financial information differently or may use such measures for different purposes than the Company does, limiting the usefulness of such measures as comparative measures. These measures should not be considered as an alternative to measures derived in accordance with IFRS, have limited use as analytical tools, should not be considered in isolation and, may not be indicative of the Company's results of operations. Recipients should not place undue reliance on this information. The financial information included herein has not been reviewed for accuracy or completeness and, as such, should not be relied upon.

The definition and classification of the pipeline of the Energy division of the ACCIONA Group, headed by Corporación Acciona Energías Renovables, S.A. ("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. In addition, given the dynamic nature of the pipeline, ACCIONA Energía's pipeline is subject to change without notice and certain projects classified under a certain pipeline category as identified above could be reclassified under another pipeline category or could cease to be pursued in the event that unexpected events, which may be beyond the ACCIONA Energía's control, occur.

01 INTRODUCTORY REMARKS

José Manuel Entrecanales

Chairman & CEO

K E Y H I G H L I G H T S H 1 2 0 2 2

02 GROUP FINANCIAL INFORMATION

José Ángel Tejero Chief Financial & Sustainability Officer

FINANCIAL RESULTS HIGHLIGHTS - H1 2022

	H1 2022 (€m)	Chg % H1 2021 vs		H1 2022 (€m)	FY 2021 (€m)
Revenues	5 177 ,	46%	Net Investment	1 217 ,	-20
EBITDA	1 064 ,	66%
EBT	445	95%		H1 2022 (€m)	FY 2021 (€m)
of which Nordex contribution	-108		Financial Debt Net	5 041 ,	4 344 ,
Attributable profit net	201	36%

Strong growth driven by Energy and Infrastructure businesses despite Ukraine impairment and negative contribution from Nordex

ESG RESULTS HIGHLIGHTS H1 2022

People	H1 2022	H1 2021	Chg. %
Workforce (no )	44,476	38,967	14.1%
and manager women (%) Executive	21.8%	21.6%	+0.2pp
Workforce with disabilities (%) in Spain	3.7%	3.5%	+0.2pp
frequency Accident index - employees and contractors	2.02	2.05	-1.5%
Accident index - employees and severity contractors	60.5	60.1	0.7%
Social (no ) Impact Management projects	216	117	84.6%
Planet	2022 H1	2021 H1	Chg. %
aligned with the low-carbon (%) CAPEX taxonomy	91%	84%	+7.0pp
(GWh) Renewable production	10,247	10,227	0.2%
Avoided (CO₂ million ton) emissions	6.7	6.8	-1.5%
Generated (CO₂ million ton) scope 1+2 emissions	84.70	89.10	-4.9%
resources (%) Renewable and recycled	12%	31%	-19.0pp
landfill (million ton) Waste to	0.8	0.7	20.0%
Recovered (%) waste	81%	83%	-2.2pp
(hm³) consumed Water	2.7	2.5	6.5%

ESG Highlights

• Weight of variable remuneration linked to sustainability goals increases to 10%
• Financing instruments linked to sustainability increase to a total of €6,885m, with both geen and sustainability-linked instruments. New sustainability-linked KPIs focused on decarbonizing the company's value chain
• Decarbonization fund directing at funding pilots to reduce emissions of construction activities: acquisition of electric machinery and decarbonised materials (concrete, steel, etc.) and testing them in real work conditions
• New corporate offices ACCIONA CAMPUS in Madrid, that achieved the highest sustainability qualifications in LEED (platinum) and WELL (gold) certifications
• New tool to digitize and promote wide access to the company's sustainability information, increasing its granularity, allowing achievement the level of transparency required to decarbonize the value chain.

Evolution of key ESG indicators

• The increase in the workforce resulting from the growth in business activity has been a challenge and an opportunity to increase the number of women in executive and management positions. This has been made possible by diversity and internal promotion programs.
• Social Impact Management projects increased significantly as a result of the implementation of the process in earlier stages of the lifecycle of projects
• 91% CAPEX alignment with the European taxonomy of low-carbon activities, supported mainly by investment in renewable generation, electric mobility and sustainable buildings
• 4.9% reduction in direct and indirect emissions compared to H1 2021, mostly as a result of lower activity in Australia
• Water consumption: increase in production due to higher activity

INVESTMENT BY DIVISION

(Million Euro)	H1 2022	H1 2021
Energy	770	661
Infrastructure	143	144
Construction	51	102
Concessions	87	0
Water	3	31
Other Infrastructure Activities	3	10
Other Activities	223	277
Net Ordinary Capex	1,136	1,082
Property Development	82	113
Divestments	0	-73
Net Investment	1,217	1,122

NET DEBT EVOLUTION

Net debt reconciliation H1 2022 (€m)

Debt associated to work in progress Derivatives

IFRS16 adjustment

03

Energy

José Ángel Tejero Chief Financial & Sustainability Officer

ACCIONA ENERGÍA – OPERATING RESULTS

Key figures H1 2022

(Million Euro)	H 1 2022	H 1 2021	Chg. $(\epsilon m)$	Chg. (%)
Generation Spain	833	321	512	159.4%
Generation International	358	377	$-19$	$-5.1%$
Intragroup adjust., Supply & Other	1,015	343	672	196.2%
Revenues	2,206	1,041	1,165	111.9%
Generation Spain	670	196	474	242.4%
Generation International	251	305	-54	$-17.7%$
Intragroup adjust., Supply & Other	$-12$	0	-11	n.m
EBITDA	909	501	409	81.7%
Generation Margin (%)	77.4%	71.7%

Consolidated capacity variation (MW)

Key highlights H1 2022

• ACCIONA Energía reported good financial performance in H1 2022 supported by the higher commodity environment across its key markets – the company is firmly on track to meet the FY 2022 outlook communicated to the market
• +112% growth in revenues and +82% in EBITDA on good results in the Spanish generation business in a strong energy market. International EBITDA falls as previous year benefited from unusually high prices in Texas
• Successful deployment of Generation-to-Supply strategy signed 1.7 TWh of long-term PPAs with Spanish industrial clients. Strong PPA market on growing demand and scarcity of projects – strong pricing compensating higher capex
• Record capacity under construction 2.1 GW paving the way for strong acceleration in new MWs in 2023. Expected additions in 2022 now at ~540 MW relative to ~830 MW initial target due to US Anticircunvention disruption
• Full information in ACCIONA Energía's stand-alone H1 22 results presentation

Consolidated production variation (GWh)

ACCIONA ENERGÍA - CONSTRUCTION PLAN

Strong momentum in projects under construction underpins step-change in capacity additions from 2023 onwards

04

Infrastructure

Luis Castilla Infrastructure CEO

INFRASTRUCTURE

Key figures H1 2022					EBITDA	evolution (€m)
(Million Euro)	H1 2022	H1 2021	Chg.	Chg. (%)
Construction
Revenues	2,003	1,598	405	25.3%
EBITDA	84	57	28	49.2%
Margin (%)	4.2%	3.5%
Concessions
Revenues	22	20	2	8.3%
EBITDA	15	18	-4	-19.5%
Margin (%)	66.2%	89.0%			Backlog breakdown	(€m)
Water
Revenues	560	516	44	8.6%
EBITDA	44	44	0	0.3%	18,096
Margin (%)	7.8%	8.5%
Other Infrastructure Activities
Revenues	71	78	-7	-8.7%
EBITDA	7	7	-1	-11.3%
Margin (%)	9.2%	9.4%
Revenues Consolidation Adj.	-10	-17	8	44.9%
Total Infrastructure
Revenues	2,648	2,196	452	20.6%
EBITDA	149	126	24	18.8%
Margin (%)	5.6%	5.7%

INFRASTRUCTURE

New record infrastructure backlog with €20,580m at the end of H1 2022

Other

Construction Concessions Water Significant new project additions 2022

Total Backlog by region

1. Mexico included in Latam

CONSTRUCTION

Strong growth in revenues and profitability despite a challenging input cost environment

Key figures H1 2022

(Million Euro)	2022 H1	2021 H1	Chg	Chg (%)
Revenues	2 003 ,	1 598 ,	405	25 3%
EBITDA	84	57	28	49 2%
(%) Margin	4 2%	3 5%

Construction backlog (€m)

Key highlights H1 2022

• +25% growth in revenues, operations being particularly strong in Brazil, Australia, Norway, and the Philippines with the completion of the Cebú bridge in Q2
• Australia consolidates its position as ACCIONA's main construction market, accounting for 35% of construction revenues in H1 2022
• 4.2% construction EBITDA margin, vs 3.5% in H1 2021, which was still partially affected by COVID-19
• The positive trend of new awards continues, with almost €4bn of new projects awarded in H1 2022:
• › Line 11 Madrid underground, Spain
• › McIntyre wind park, Australia
• › Palma de Mallorca airport expansion, Spain › La Serena Hospital, Chile
• › Eastern Busway, New Zealand
• Consolidating our presence in Nordic countries, with our first contract in Finland

Outlook

• Structurally growing demand for large and complex infrastructures projects worldwide - ACCIONA is one of the few players with the skills and size to address them
• In the short-term, we are handling the current challenging cost environment through
• Focus on risk management and strict cost control
• Proactive negotiations with our clients with regards to the ongoing projects

• Pricing higher contingencies in our current bids

• Spain not included

CONCESSIONS

Focus on sustainable greenfield concessions with low demand risk

Key figures H1 2022

Revenues	22	20	2	8.3%
EBITDA	15	18	-4	-19.5%
Margin (%)	66.2%	89.0%

Pipeline - Total Investment (€bn)

Key highlights H1 2022

• YoY growth rates distorted by the assets sold during 2021
• Financial close of the long-term non-recourse financing for LINHA 6 of Metro de São Paulo, being the first of its kind and size in the country
• Partial divestment of stake in Windsor Essex Parkway (Canada), implying a multiple of 5.2x invested capital and an IRR of over 40%
• Submitted bids for projects with a total associated investment of over €4bn (€3.1bn pending award) in Australia, Chile, Peru and Colombia
• Pre-qualified for the first transmission line concession in Australia (Central West Orana Power Station, in New South Wales) involving an investment of more than AUD 3bn

Outlook

• Future growth focused on sustainable greenfield investments that can provide future steady cash-flows, leveraging on the group's technical and financial capabilities
• Abundant pipeline with more than 75 greenfield projects requiring an investment of more than €86bn to be tendered in the next years in our key geographies
• Launching new initiatives to develop sustainable complementary businesses (e.g. transmission lines, district heating, data centers, etc.) in order to diversify our portfolio

WATER

Increase weight of long-term revenues supported by O&M contracts

Water backlog (€m)

(Million Euro)	H1 2022	H1 2021	Chg.	Chg. (%)
Revenues	560	516	44	8.6%
EBITDA	44	44	0	0.3%
Margin (%)	7.8%	8.5%

Key figures H1 2022 Key highlights H1 2022

• +9% increase in revenues; new historical half- yearly sales record
• Significant presence in Middle East and North Africa (MENA), which accounts for 56% of revenues
• Strong growth in O&M sales driven by new international contracts (Veracruz)
• Some EBITDA margin erosion due to higher energy costs
• New awards for €564m, such as:
• › Medina water treatment BOOT (Saudi Arabia)
• › Buraydah and Tabuk water treatment BOOT (Saudi Arabia)
• › Water treatment BOOT and water services management in South Cluster (Saudi Arabia) › Collahuasi Desalination Plant (Chile)
• Consolidating our international O&M business with contracts such as Gabal El Asfar treatment plant in Egypt

Outlook

• ACCIONA maintains its worldwide leadership on large-scale desalination projects - world largest desalination company by cumulative capacity in the last 10 years
• Strong interest in projects and assets related to water, purification and desalination at a global level, related to ESG principles and approach

• Increase in the number of investment opportunities in greenfield projects, where we can offer "one-stop-shop" solutions (DFBO)

• Spain not included

05

P r o p e r t y D e v e l o p m e n t

A n d r é s P a n d e S o r a l u c e R e a l E s t a t e C E O

55%

€1,483m €1,078m

17%

Resid. development Spain

Rental Properties

Resid. development International

PROPERTY DEVELOPMENT

H1 2022 results in line with the yearly schedule of deliveries

(Million Euro)	2022 H1	2021 H1	Chg	Chg (%)
Revenues	25	39	-14	9% -34
EBITDA	-9	-8	-1	-8 0%
(%) Margin	n.m	n.m
GAV breakdown
		1%
27%

56%

Land Bank

Under Development Finished stock

43%

Key figures H1 2022 Key highlights H1 2022

• 108 units delivered in H1 2022, versus 156 in H1 2021, at an Average Selling Price of €192k
• More than 80% of the expected 2022 deliveries will take place in H2 2022
• Strong commercial activity during the first half, with a pre-sales backlog as of 30 June 2022 of 1,628 units, equivalent to €536m of future revenues (ASP > €329k). 54% of the pre-sales backlog correspond to Build To Rent
• Acquired land for €29m, to develop 350 housing units in Spain and Poland and 105,000 sqm of logistics in Bilbao (Spain)
• Successful completion of the Ombú project, a transformative 14,000 sqm office building in Madrid designed by Foster + Partners

Outlook

▪ Positive FY 2022 EBITDA, according to the yearly calendar of deliveries

Residential Development (No. of units)

06

Bestinver

Enrique Pérez-Pla

Bestinver CEO

BESTINVER

Leading independent provider of comprehensive financial services

(Million Euro)	H1 2022	H1 2021	Chg	(%) Chg
Revenues	55	62	-7	-11 3%
EBITDA	28	34	-6	-18 8%
(%) Margin	49 8%	54 5%
Assets Under Management (€m)		Average Assets Under Management (€m)
			-8%

Key figures H1 2022 Key highlights H1 2022

• €5.5bn Assets Under Management (AUM) as of June 2022, which represents a 22% decline relative to December 2021, mostly driven by performance
• The negative performance of equity markets over 1H 2022 has had a major impact on AUM's, as well as on revenues. EBITDA has also been impacted by a lower contribution from our securities business
• Positive evolution from the Bestinver Infra FCR Fund both in investment commitments (over €200m AUM) and investments (85% of commitments already invested)
• Bestinver Securities lower levels of capital markets activity generally due to market conditions, although successful participation in several ECM and DCM transactions during H1

Outlook

• Bestinver Asset Management expansion of the current value proposition
• › Launch of new equity funds in new geographies and strategies, developing our product range in traditional funds
• › Final close of Bestinver Infra Fund and design and launching of Bestinver Infra II in the upcoming months
• Bestinver Securities Completion of teams in Corporate Finance
• › ECM, DCM, Debt Advisory & M&A

07

Urban Electric Mobility

Carlos Sotelo Silence CEO

URBAN ELECTRIC MOBILITY

Strong growth in Silence vehicle sales while Sharing business recovering towards pre COVID19 levels

Silence +72% increase in sales in H1 2022

• ~6,500 Silence vehicles sold in H1 2022, vs 3,800 in H1 2021 (+71.6% yoy)
• Target to sell 14,000 units in FY 2022, +55% yoy
• 30% market share in Europe, a potential market of 600k-800k units in the medium-term
• Covering all the needs of urban electric mobility 100% electric 2-wheelers and 4 wheelers (motorcycles, mopeds, quadricycles) with the same removable batteries in a trolley format
• S04 to start production during Q1 2023
• Baas (Battery as a Service) deployment to be implemented in Spain during H2 2023

Sharing Mobility recovery on track

• Total mobility is recovering but it still below pre-pandemic levels (-15% in Spain & 18% in Italy)
• +25% increase in the motosharing market in H1 2022 vs H1 2021 (+13.8% in Spain and +68.4% in Italy)
• ACCIONA´ s motosharing activity is significantly improving in H1 2022 vs H1 2021:
• › Trips: +31% (+22% in Spain and +137% in Italy)
• › Revenues per day: +50%
• › Number of new users: +62% (+500k total users)
• 2022 expansion: Madrid Sur, Gandía and coast of Cádiz

08

APPENDIX

EBITDA & CAPITAL EMPLOYED BY TYPE OF ACTIVITY

1. Percentages are calculated on EBITDA before consolidation adjustments, corporate costs & others

2. Renewable Generation excluding Non-LT Contracted + Infrastructure Concessions + Infrastructure Services

3. Capital Employed does not include the stake in Nordex

NET FINANCIAL DEBT

DEBT MATURITY & BREAKDOWN

Debt breakdown by nature

A C C I O N A H 1 2 0 2 2 R E S U L T S

ACCIONA ENERGÍA

Global reach with presence in 17 countries across 5 continents with 11.2GW of total installed capacity in H1 2022

ENERGY – SCHEDULED CAPACITY ADDITIONS

						M W			Scheduled	Capacity	Additions	per year (MW)	(1)
Technology	Country	Asset name	% ANE stake	Total	Added YTD	Under const. Jun 2022	Start const. 2022	Start const. 2023	2022	2023	2024	2025	2026	Details
Wind	Spain	Pedregales	100%	18	18				18					PPA Portfolio
Wind	Australia	McIntyre Complex	70%	923		923			137	787				PPA with CleanCo for 40% of the production. ANE will own 923MW and build 103MW for CleanCo. In advanced negotiations with offtaker investment partners and working on additional PPAs
Wind	Peru	San Juan de Marcona	100%	136		136				136				Private PPA, merchant in the initial phase
P V	Spain	Extremadura	100%	125	68	57			125					Private PPA
P V	Spain	Bolarque I	100%	50		50			50					Spanish renewable auction
P V	Spain	Escepar y Peralejo Hibridación	100%	62			62			62				Spanish renewable auction
P V	Spain	Ayora	100%	86				86		86				Private PPA
P V	USA	Fort Bend	100%	315	6	309			150	165				Private PPA + ITC
P V	USA	High Point	100%	126		126				126				Private PPA + ITC
P V	USA	Tenaska Portfolio	100%	765		405		360		405				360 Private PPA + ITC
P V	USA	Red Tailed Hawk	100%	458			458			335	123			Merchant
P V	Dominican Rep.	Enren (Calabaza I)	100%	58		58			58					Private PPA
Wind	Croatia	Boraja	100%	45				45			45			Regulated PPA
Wind	Croatia	Opor	100%	27				27			27			Regulated PPA
Total				3.194	9 2	2.064	520	518	538	2.101	195	0	360

ENERGY – INSTALLED CAPACITY

Installed MW (30 June 2022)

	Total	Consolidated	. accounted Eq	Net
Spain	697 5 ,	650 4 ,	512	131 5 ,
Wind	4 681 ,	3 648 ,	506	4 125 ,
Hydro	868	868	0	868
Solar PV	87	73	7	79
Biomass	61	61	0	59
International	5 515 ,	4 678 ,	358	4 320 ,
Wind	005 4 ,	3 804 ,	48	3 217 ,
CSP	64	64	0	48
Solar PV	1 447 ,	810	310	1 055 ,
Total	11 212 ,	9 328 ,	870	9 451 ,

ENERGY – WIND, DRIVERS BY COUNTRY

Wind prices (€/MWh) (1) and Load factors (%)

	H1 2022		H1	2021
	(€/MWh) price Av.	(%) LF	(€/MWh) price Av.	(%) LF	(€/MWh) price Av.
Spain Average	169.2	24.2%	59.7	26.0%	183.5%
- Regulated Spain	208.6		70.7		194.8%
regulated Spain - Not	140.4		39.1		258.7%
Canada	65.8	36.3%	56.5	30.9%	16.4%
(2) USA	33.0	24.3%	94.3	21.6%	-65.0%
India	50.6	21.8%	47.4	23.0%	6.7%
Mexico	68.7	37.7%	54.4	35.9%	26.2%
Costa Rica	110.6	60.1%	98.4	65.8%	12.4%
Australia	83.0	28.5%	60.1	30.1%	38.1%
Poland	102.5	30.3%	90.1	23.6%	13.8%
Croatia	110.9	29.6%	108.1	34.0%	2.6%
Portugal	95.7	26.7%	87.6	27.1%	9.3%
Italy	250.1	20.5%	154.8	20.3%	61.5%
Chile	38.2	29.1%	69.8	29.3%	-45.3%
South Africa	84.6	29.3%	78.6	27.3%	7.7%

1. Prices for consolidated MWs

2. 238MW located in the US additionally receive a "normalized" PTC of \$25/MWh

ENERGY – OTHER TECHNOLOGIES, DRIVERS BY COUNTRY

Other technologies prices (€/MWh) and Load factors (%)

	2022 H1		2021 H1		Chg (%)
	(€/MWh) Av . price	(%) LF	(€/MWh) Av . price	(%) LF	(€/MWh) Av . price
Hydro
Spain	171 6	26 6%	53 3	29 0%	222 1%
Biomass
Spain	185 0	82 2%	132 5	9% 77	39 6%
Solar Thermoelectric
USA	164 5	22 7%	169 0	20 4%	-2 7%
Solar PV
Africa South	169 3	2% 21	157 4	8% 22	5% 7
Chile	32 4	24 5%	42 8	26 1%	-24 5%
Ukraine	33 1	7 0%	130 2	9 9%	-74 6%

CONCESSIONS – TRANSPORT & HOSPITAL CONCESSIONS BREAKDOWN

	Name	Description	Period	Country	ACCIONA	Status	Accounting method	Asset type
	A2 - Section 2	Remodeling, restoration, operation and maintenance of a 76.5km strech of an existing road between km 62 (A-2) and km 139 (border of province of Soria-Guadalajara). Shadow toll	2007 - 2026	Spain	100%	Operational	Global integration	Intangible asset
Road	Toowoomba Second Range Crossing (Nexus)	Design, construction and operation of 41km of the north ring road in Toowoomba (Queensland), from Helidon Spa to Athol, through Charlton. Availability payment (25 year operation from construction end)	2015 - 2043	Australia	20%	Operational	Equity method	Financial asset
	Puhoi to Warkworth	Finance, design, construct and maintain the new Pūhoi to Warkworth motorway. The Pūhoi to Warkworth project will extend the four lane Northern Motorway (SH1) 18.5km from the Johnstone's Hill tunnels to just north of Warkworth.	2016 - 2046	New Zealand	10%	Construction	Equity method	Financial asset
	Consorcio Traza (Tranvía Zaragoza)	Construction & operation of the streetcar that crosses the city (12.8km)	2009 - 2044	Spain	17%	Operational	Equity method	Both methods
Rail	Concessionaria Linha Universidade	Construction of civil works and systems, provision of rolling stock, operation, conservation, maintenance and expansion of public transport services of Linea 6 - Laranja of Metro de Sao Paulo.	2020 - 2044	Brasil	48%	Construction	Equity method	Financial asset
	Sydney Light Rail	Design, construction and O&M of 12km rail line from Circular Quay via George Street to Central Station crossing Surry Hills to Moore Park, Kensington, Kingsford and Randwick. It includes operation of Inner West line	2014 - 2034	Australia	5%	Operational	Equity method	Financial asset
Canal	Fargo	Design, construction, operation and maintenance of a 48km (30 mile) flood prevention canal between Fargo (North Dakota) and Moorhead (Minnesota).	2021 - 2056	EEUU	43%	Construction	Equity method	Financial asset
Port	Nova Darsena Esportiva de Bara	Construction & operation of the Roda de Bara marina. Revenues from moorings, shops & parkings (191,771m2)	2005 - 2035	Spain	50%	Operational	Equity method	n.m
Hospital	Hospital de Leon Bajio	Design, construction, equipment and O&M of the hospital (184 beds)	2005 - 2030	Mexico	100%	Operational	Global integration	Financial asset
	Hospital La Serena	Design, construction, equipment and O&M of the hospital (668 beds)	2022 - 2042	Chile	100%	Construction	Global integration	Financial asset
WTE	East Rockingham	Design, construction, operation and maintenance of a new transformation and waste to energy plant	2019 - 2052	Australia	10%	Construction	Equity method	n.m

CONCESSIONS – DETAILS OF WATER CONCESSIONS UNDER IFRIC12

Name	Description	Period	Country	ACCIONA	Status	method Accounting	Asset type
EDAR 8B	Construction, operation and maintenance of the wastewater treatment plant "08B Zone" of Aragon	2008 - 2031	Spain	100%	Operational	Global integration	Intangible asset
EDAR 7B	Construction, operation and maintenance of the wastewater treatment plant "07B Zone" of Aragon	2011 - 2031	Spain	100%	Operational	Global integration	Intangible asset
IDAM Javea	Construction, operation and maintenance of the sea water desalination plant in Javea	2001 - 2023	Spain	100%	Operational	Global integration	Financial asset
IDAM Fouka	Construction, operation and maintenance of the sea water desalination plant in Tipaza	2008 - 2036	Argelia	26%	Operational	Equity method	Financial asset
IDAM Ibiza -Portmany	Reconstruction, works operation and maintenance of the sea water desalination plant in San Antonio Portmany and Ibiza	2009 - 2024	Spain	50%	Operational	Equity method	Financial asset
PTAR Atotonilco	Construction, operation and maintenance of the wastewater treatment plant in Atotonilco	2010 - 2035	Mexico	24%	Operational	Equity method	Financial asset
WWTP Mundaring	Construction, operation and maintenance of the wastewater treatment plants in Mundaring	2011 - 2048	Australia	25%	Operational	Equity method	Financial asset
PTAR La Chira	Construction, operation and maintenance of the wastewater treatment plants in La Chira	2011 - 2037	Peru	50%	Operational	Equity method	Financial asset
IDAM Arucas Moya	Extension, operation and maintenance of the sea water desalination plant in Arucas / Moya	2008 - 2024	Spain	100%	Operational	Global integration	Intangible asset
	Red de saneamiento en Andratx Construction, operation and maintenance of the wastewater treatment plants in Andratx	2009 - 2044	Spain	100%	Operational	Global integration	Intangible asset
Port City Water	Design, construction, financing, operation and maintenance of a water treatment plant and storage reservoirs in Saint John	2016 - 2048	Canada	40%	Operational	Equity method	Financial asset
Sercomosa	Public-private company whose principal activity is the water supply to Molina de Segura	1998 - 2040	Spain	49%	Operational	Equity method	Intangible asset
Somajasa	Public-private company to manage integrated water cycle of public services in some relevant Municipalities of Province of Jaen	2007 - 2032	Spain	60%	Operational	Equity method	Intangible asset
Gesba	Water supply service in Andratx and Deiá (Mallorca)	1994 - 2044	Spain	100%	Operational	Global integration	Intangible asset
Costa Tropical	Integrated water cycle service in Costa Tropical (Granada)	1995 - 2045	Spain	49%	Operational	Proportional integration	Intangible asset
Boca del Rio	Integrated water cycle of public services in Boca del Rio ( Veracruz )	2018 - 2047	Mexico	70%	Operational	Global integration	Intangible asset
Shuqaiq 3	Development, design, financing, construction, commissioning, operation and maitenance of SWRO plant	2019 - 2046	Saudi Arabia	10%	Construction	Equity method	Financial asset
Veracruz	Integrated water cycle of public services and wastewater treatment in Veracruz and Medellin	2016 - 2046	Mexico	100%	Operational	Global integration	Intangible asset
Los Cabos	Contract for Engineering, executive project, procurement, construction, start-up and operation of the Desalination Plant of Agua de Mar de Cabos San Lucas, municipality of Los Cabos	2021 - 2046	Mexico	50%	Construction	Equity method	Financial asset
Madinah 3	Development, design, financing, construction, commissioning, operation and maitenance of ISTP plant	2022 - 2049	Saudi Arabia	35%	Construction	Equity method	Financial asset
Buraydah 2	Development, design, financing, construction, commissioning, operation and maitenance of ISTP plant	2022 - 2049	Saudi Arabia	35%	Construction	Equity method	Financial asset
Tabuk 2	Development, design, financing, construction, commissioning, operation and maitenance of ISTP plant	2022 - 2049	Saudi Arabia	35%	Construction	Equity method	Financial asset

PROPERTY DEVELOPMENT

Highly concentrated in Madrid, Catalonia and Lisbon & specific attractive opportunities elsewhere in Spain & abroad

SUSTAINABLE FINANCE AND RATINGS

SUSTAINABLE FINANCE OPERATIONS

GREEN FINANCING

Active operations	46
New operations during H1 2022	7
Current outstanding amount (€m)	3,026

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

100% of proceeds allocated to EU Taxonomy aligned projects

FINANCING LINKED TO SUSTAINABILITY COMMITMENTS

Current outstanding amount (€m)	3,859
New operations H1 2022	2
Active operations	4

S U S T A I N A B I L I T Y P E R F O R M A N C E T A R G E T S

Set out in ACCIONA sustainability-linked framework, monitored annually and the targets for 2022 are in progress

ESG RATINGS

Included in the Europe's Climate Leaders 2022

The 100 Company 2021 Diversity & Inclusion Index

CDP A+

RESULTS PRESENTATION

$H1$ 2022 - January - June

29^th July 2022