Audax Renovables S A : signs a strategic agreement with Shell Energy Europe Limited for the purchase of energy in Spain

• The British multinational will become the exclusive supplier of gas and electricity to the Audax Group in Spain, which will reap the benefits of a competitively priced energy supply following the signing of a Market Access agreement.
• The agreement has an immediate impact on Audax's working capital, giving it greater access to the market and furthering the goals set out in its strategic plan.

February 1, 2023.- Audax Renovables (ADX.MC), a vertically integrated Spanish energy group that generates 100% renewable energy and supplies electricity and gas to customers in seven countries, has signed a strategic agreement with Shell Energy Europe Limited, a leading global energy company, to supply electricity and gas in Spain. Through this agreement, Audax ensures a competitive supply of electricity and gas, a strategic advantage for sustainable and profitable growth.

The agreement ensures better access for Audax to forward-looking positions than going directly to the wholesale market, and will immediately improve Audax's cash position, while boosting its competitiveness in the market to offer product differentiation to its customers.

The strategic agreement, which improves Audax's competitiveness in the Spanish market, also represents a new impetus for achieving the goals of its strategic plan based on the vertical integration of its generation and supplying activities and on a solid financial position.

For José Elías, chairman of the Audax group, "this partnership demonstrates the company's unswerving commitment to its customers and shareholders to guarantee an efficient energy supply by optimizing our management with a thoughtful cost control strategy and interesting growth opportunities. The deal, which has an immediate impact on our cash position, will also give us a greater competitive advantage in a complex market environment and allow us to grow steadily without worrying about market price fluctuations".

Audax, which closed the third quarter of 2022 with more than 396,000 supply points, thus reinforces its growth plans in Spain, placing it in a good position to increase its customer portfolio over the next year.
For the development of the deal, the company has been advised by leading firms such as Garrigues and Alantra.

For further information:
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Ginés Cañabate
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Patricia González
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About Audax Renovables

Founded in 2000, Audax Renovables is a vertically integrated Spanish energy group that generates 100% renewable energy and supplies electricity and gas to customers in seven European countries.

It currently has a portfolio of wind farms and photovoltaic plants in Spain, Portugal, Italy, France, Poland and Panama in operation, under construction and at different stages of development that exceeds 2 GW. In its supplying activity, the group chaired by José Elías Navarro supplies renewable energy and gas to more than 396,000 customers in Spain, Portugal, Italy, Germany, Poland, Holland and Hungary, and spearheads the SME segment in Iberia. Audax was first listed on the Spanish secondary market in 2003, and in 2007 it made the leap to the continuous market, where it became part of the IBEX SMALL CAP® index in March 2020. Currently, its market capitalization exceeds 600 million euros, and it has a team of more than 800 professionals.