Wind of Change

FY20 ANNUAL REPORT

Wind turbine at the Ourol Wind Farm (22.5MW)

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About

Letter from

About

Our

Governance

Environmental

Social

Appendices

Annual

this report

our CEO

Greenalia

sustainability

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model

FY20

Table of Contents

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FY20 ANNUAL REPORT

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About this report

This report contains information on Greenalia's sustainability activities, based on its 2020 performance in environmental, social and governance areas (ESG framework), and in response to the expectations expressed by our stakeholders in the materiality analysis.

The entities included in this Report are those reflected in the Consolidated Financial Statements published by Greenalia S.A. for the fiscal year 2020, from 1 January to 31 December 2020, which is the annual reporting cycle.

In this Annual Report we present the actions and indicators implemented as a contribution to the achievement of the Sustainable Development Goals (SDGs) and their targets, also responding to our commitment to the principles of the United Nations Global Compact, of which we have been a member since 2019.

This Annual Report is prepared in accordance with a set of principles, including the GRI Sustainability Reporting Standards, which represent global best practices for public reporting on the economic, environmental, and social impacts of organisations. It is prepared in accordance with the core option of the GRI Standards.

If you have any questions about the report or its contents, please contact us: sostenibilidad@ greenalia.es

Wind turbine at Ourol Wind Farm (22.5MW)

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WE HAVE
EXPANDED OUR
solar photovoltaic porTfolio AND HAVE OPTED FOR A NEW floating OFFSHORE wind TECHNOLOGY.

02 Letter from our

CEO

2020 was a year marked by the SARS-CoV-2 pandemic and its consequences at both the health and economic levels. A virus that has conditioned the lives of the entire planet and its inhabitants and whose aftermath will be decisive during 2021.

Despite the impact of closures and restrictions, the strength of our business model based on the green economy, vertical integration and recurring revenues has been reflected in the continuity of all planned projects.

As a result, we have started up one of the largest biomass plants in Europe and our first wind farm, which was completed at the end of 2019. In addition, we completed the construction of another wind farm in the testing phase since the beginning of 2021 and started the construction of three others. In this line, and also during this year, we have expanded our photovoltaic portfolio and committed to a new technology, incorporating floating offshore wind power into our projects, placing us at the forefront of energy production companies and making us the only national operator with 4 technologies, with the exception of the large utilities.

This consolidation of our pipeline and the progress in the processing of new projects will lead us to update our strategic plan in 2021, in which

we will set new objectives above the current planning. Our new objective is to build more than 2 GW in different technologies in the next 5 years, with a firm commitment to become a clear reference in the Spanish energy transition process.

Manuel García Pardo

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WE CONTINUE
TO STRENGTHEN OUR STRATEGY FOR SUSTAINABLE AND HARMONIOUS GROWTH.

At Greenalia we continue to reinforce our strategy for sustainable and harmonious growth of the organisation from a triple ESG (Environmental, Social and Governance) perspective, creating an organisation that lives in a complex ecosystem and in turn contributes to regenerating it.

In order to thrive in today's complex environment, organisations must become more complex and sophisticated. For this reason, during 2020 we have strategically strengthened our Digital, Sustainability, People and Communication and Brand areas, continuing with our objective of adding social and environmental value to our activity.

We base our regenerative development on these three pillars, understanding sustainability as a step beyond the simple commitment to respect resources. The current situation demands a proactive attitude not only in conservation, but also in recovery.

We consider it vital to strengthen the sustainability of our talented and high-performing team, reinforce our digitalisation and cybersecurity processes, integrate ESG perspectives into all facets of our business and project a true image of the professionalism and potential of our organisation by improving our communication for the benefit of our teams and investors and, ultimately, all of our stakeholders.

Our commitments extend to the 17 United Nations Sustainable Development Goals (SDGs), which will be fundamental in the sustainable reconstruction of health systems, economies, and sectors in the wake of the crisis caused by this pandemic and which are particularly important in this context.

For this reason, during 2020 and in the context of a pandemic, we joined the UNICEF initiative to generate a supply of FFP1 masks that would allow

healthcare workers to carry out their work safely. In addition, within the framework of the lines of action of our future Greenalia Foundation for the energy transition and through the signing of several collaboration agree- ments, we have developed a school aid programme, benefiting almost 25% of school-age children in the city councils where we operate.

In this sense, recovery from the pandemic represents a major challenge and many opportunities. This requires us to move up a step and move from simple care to rehabilitation, to the regeneration of species and the protection of biodiversity. All of this in line with a new production model, a new economy, understood from a more social, more egalitarian, and equitable perspecti-

ve: in short, a greener economy.

Since our creation, at Greenalia we have believed in the possibility of doing things differently, through the generation of greener energy and the development of a more sustainable model, where fossil fuels have no place and where wind, sun, and forest biomass, from the remains of certified plantations, are used to generate electricity in harmony with nature, provi-

ding employment and innovation in the areas where we operate.

We created and developed our business model being aware of the need to act in the face of climate change, knowing the current risk of the energy model and the need for change. For this reason, we promote ourselves as a key player through the generation of renewable energies.

This has been our motivation from the outset, which has led us to constant innovation, to the search for new ways of meeting the challenge of producing responsibly and to the invigoration of the environment in which we operate.

Globalisation has undoubtedly been one of the great advances of the last decades, but the possibility of moving around the world should not make us forget providing the necessary stimulus to our immediate surroundings.

Letter from our CEO

It is in this closeness, in this commitment to the community, understood in all its scope, with its people and its circumstances, where a company grows and becomes great. For this reason, at Greenalia we are firmly committed to local employment and local enterprises.

In the era of digitalisation, talent and human resources are essential to the development of our projects. We are convinced that our growth and evolution are closely linked to that of our people. That is why at Greenalia we are committed to training, internal promotion and high performance, promoting equal opportunities between women and men through the implementation of our First Equality, Diversity, and Inclusion Plan.

This is the path we believe in, in line with the United Nations Global Compact and the 2030 Agenda, where people's rights, care for the environment and transparency and good governance are the cornerstones of our daily work. At Greenalia we are convinced that, with these values, we will be able to emerge stronger from this pandemic, which has undoubtedly marked the year 2020.

Manuel García Pardo

CEO

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Greenalia SA published this content on 20 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2022 09:35:09 UTC.