Acciona S A : Resultados primer semestre 2021 (inglés)

H 1 2 0 2 1 - J a n u a r y - J u n e

R E S U L T S

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

3 0 t h J u l y 2 0 2 1

A C C I O N A H 1 2 0 2 1 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.

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

KEY HIGHLIGHTS H1 2021

Successful execution of ACCIONA ENERGÍA IPO, solid financial position & positive FY 2021 outlook reiterated

S U C C E S F U L L I P O O F A C C I O N A E N E R G Í A …

17.25% stake sold @€8.8bn equity valuation

€1.5bn gross cash proceeds for ACCIONA

… W I T H A S I G N I F I C A N T P O S I T I V E I M P A C T O N A C C I O N A ' S D E B T P O S I T I O N

› Pro-forma net debt to fall to €4.3bn post ACCIONA Energía IPO

S O L I D G R O W T H R A T E S I N H 1 2 0 2 1 A C R O S S A L L B U S I N E S S E S

• 29% increase in group EBITDA to €643m - recovery to pre-COVIDlevels
• Energy EBITDA up by 18% on contribution on new US assets; Infrastructure EBITDA up 76% on recovering construction business

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

• Total infrastructure backlog reaches a new record high of €17.4bn; the stock of pre-salesof housing unit amounts to 935, to be delivered in the next 24 months

	I N N O V A T I V E E S G	F I N A N C I N G		Sustainability-linked Financing Framework
	" D O U B L E I M P A C T "	F I N A N C I N G F R A M E W O R K		GHG Reductions + Local capabilities development + Access to energy

E U T A X O N O M Y A L I G N E M E N T

›	8 4 %	T O T A L	C A P E X
›	8 2 %	T O T A L	E B I T D A

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

FINANCIAL RESULTS HIGHLIGHTS H1 2021

	H1 2021	% Chg.		H1 2021	H1 2020
	(€m)	vs H1 2020		(€m)	(€m)
Revenues	3,555	17%	Net Investment	1,122	504
EBITDA	643	29%
EBT	228	448%
of which Nordex contribution	-18			H1 2021	H1 2020
		(€m)	(€m)
Attributable net profit	148	566%	Net Financial Debt	5,792	5,719

Strong growth across the Profit & Loss account with stable net debt before ACCIONA Energía IPO proceeds

Group pro-formanet financial debt post-ACCIONA Energía net IPO proceeds would fall to €4.3bn

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

ESG RESULTS HIGHLIGHTS - H1 2021

Key ESG indicators

People	30-Jun-21	30-Jun-20	% Var
Workforce (nº)	38,967	35,741	9.0%
Executive and manager women (%)	21.6%	20.9%	+0.7pp
Workforce with disabilities in Spain (%)	3.5%	n.m	n.m
Accident frequency index - employees and contractors	2.2	1.9	15.8%
Accident severity index - employees and contractors	60.1	68.9	-12.8%
Social Impact Management projects (no.)	114	114	0.0%

Planet	30-Jun-21	30-Jun-20	% Var
CAPEX aligned with the low-carbon taxonomy (%)	84%	85%	-1.0pp
Renewable production (GWh)	12,557	12,104	3.7%
Avoided emissions (CO₂ million ton)	6.8	6.9	-1.4%
Generated scope 1+2 emissions (CO₂ million ton)	0.088	0.063	39.7%
Renewable and recycled resources (%)	18%	9%	+9.0pp
Waste to landfill (million ton)	0.89	0.55	61.8%
Recovered waste (%)	74%	70%	+4.0pp
Water consumed (hm³)	2.7	2.2	22.7%
Treated water (hm³)	504	466	8.2%

ESG highlights

• Launch of the new Sustainability Master Plan (SMP) 2025 that adds "regeneration" to the "responsibility" and "resilience" dimensions of the two previous plans (3R approach)
• First Spanish electric utility to join The Climate Pledge. The company commits to achieve carbon neutrality by 2040
• Arranged €3.3bn syndicated facilities under innovative "double impact" ESG scheme

Evolution of key ESG indicators

• Higher women in executive and manager positions ratio - increase in promotions especially in Energy
• The rise in the accident frequency index is due to the reactivation of work activity, which was limited in Q2 2020. Despite this, the severity has reduced. Security awareness has been an important factor to make the accidents less severe
• The increase in renewable generation is mainly due to new wind and photovoltaic facilities in the US, Mexico and Chile
• Emissions rose due to the consolidation of new construction businesses in Australia. Almost 50% were emitted at Western Sydney Airport project
• Waste sent to landfill has grown as some projects have excavated soils that were contaminated previously by a third party. These soils cannot be recycled, as specified by regulation, and were sent to landfills
• Water consumption has increased because of water-intensive activity in projects such as the E6 Ranheim-Vaernes road in Norway and the Western Sydney Airport

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