Slide 1: FY 2024 Results Presentation
A C C I O N A F Y 2 0 2 4 R E S U L T S FY 2024 – January – December 2 8 th F e b r u a r y 2 0 2 5 RESULTS PRESENTATION
Slide 2: Disclaimer
A C C I O N A F Y 2 0 2 4 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”) FORWARD-LOOKING STATEMENTS exclusively for use during the presentation of financial results. Therefore, it cannot
Slide 3: Table of Contents
A C C I O N A F Y 2 0 2 4 R E S U L T S TABLE OF CONTENT 1 Introductory Remarks 4 2 Group Financial Information 21 3 ACCIONA Energía 26 4 ACCIONA Infrastructure 28 5 Nordex 35 6 ACCIONA Other activities 37 7 Appendix (I) 40 8 Appendix (II) – ACCIONA Energía FY 2024 Results 47 3
Slide 4: Introductory Remarks
A C C I O N A F Y 2 0 2 4 R E S U L T S 01 INTRODUCTORY REMARKS
Slide 5: FY 2024 Results Highlights
A C C I O N A F Y 2 0 2 4 R E S U L T S FY 2024 RESULTS HIGHLIGHTS €2.5bn EBITDA EXCEEDING GUIDANCE +2 GW ACCIONA ENERGÍA 5% Asset rotation progress 45% 19% €54bn backlog INFRASTRUCTURE 45% 9.4% EBITDA margin 31% 31% Turn-around completed NORDEX Top2 ex China 19% 5 Note: 5% corresponding to other bu
Slide 6: FY 2024 Results: Nordex
A C C I O N A F Y 2 0 2 4 R E S U L T S FY 2024 RESULTS: NORDEX Top2 Global player ex-China 8% On track to deliver mid-term EBITDA target 6
Slide 7: FY 2024 Results: Infrastructure
A C C I O N A F Y 2 0 2 4 R E S U L T S FY 2024 RESULTS: INFRASTRUCTURE Strong performance Record backlog €762m EBITDA (+38% vs 2023) €54bn (+58% vs 2023) 9.4% margin + Preferred bidder €84bn CONSTRUCTION CONCESSIONS WATER 7
Slide 8: Immense Growth Opportunity
A C C I O N A F Y 2 0 2 4 R E S U L T S IMMENSE GROWTH OPPORTUNITY Railways Corridors | €27bn EMEA Green Deal | €1.1tn REPowerEU | €300bn Infrastructure investment and Jobs Clean Industrial Deal I €100bn Act | $1.2tn* €12bn + €2bn NORTH AMERICA IRA | $370bn for energy security* Industrial Plan of th
Slide 9: Focus on Concessions: Recent Milestones
A C C I O N A F Y 2 0 2 4 R E S U L T S FOCUS ON CONCESSIONS: RECENT MILESTONES €3bn EQUITY INVESTED & COMMITTED • New Calcasieu River Bridge (i-10) • Los Cabos desalination • SR-400 • Casablanca plant desalination plant • Saadiyat desalination • Central-West Orana plant transmission line • Transmis
Slide 10: SR Express Lanes, Atlanta
A C C I O N A F Y 2 0 2 4 R E S U L T S SR 400 EXPRESS LANES, ATLANTA 25km of managed lanes €10.5bn total investment 55 years 2025-2081 Largest managed lane tendered and largest public-private project in US history 10
Slide 11: Line 6 São Paulo Metro, Brazil
A C C I O N A F Y 2 0 2 4 R E S U L T S LINE 6 SÃO PAULO METRO, BRAZIL 15km €3.3bn total investment 24 years 2020-2044 Underground line that will connect the center of the city with its Northwest end, reducing commute times for at least 630,000 daily passengers 11
Slide 12: I-10 Calcasieu Bridge, Louisiana
A C C I O N A F Y 2 0 2 4 R E S U L T S I-10 CALCASIEU BRIDGE, LOUISANA 10km €3.2bn total investment 57 years 2024-2081 Reconstruction and widening of the Interstate I-10 with the construction of a new bridge over the Calcasieu River at Lake Charles 12
Slide 13: Peripheral Ring Road, Lima
A C C I O N A F Y 2 0 2 4 R E S U L T S PERIPHERAL RING -ROAD, LIMA 35km urban toll motorway €4.5bn total investment Up to 60 years 2024-2084 The new route will connect 11 districts in Metropolitan Lima and one in Callao, benefiting 4.5m people 13
Slide 14: Transmission Lines, Peru and Australia
A C C I O N A F Y 2 0 2 4 R E S U L T S TRANSMISSION LINES, PERU AND AUSTRALIA 1,116km 250km €0.8bn total investment €4.9bn total investment 34 years 2024-2058 35 years 2024-2059 Eight transmission lines Including several substations that will benefit 1m people to facilitate growth of renewables 14
Slide 15: Casablanca Desalination Plant, Morocco
A C C I O N A F Y 2 0 2 4 R E S U L T S CASABLANCA DESALINATION PLANT, MOROCCO 300 million m³ annually €617m total investment 30 years 2024-2054 Largest desalination plant in Africa, powered entirely by renewable energy 15
Slide 16: Saadiyat Desalination Plant, Abu Dhabi
A C C I O N A F Y 2 0 2 4 R E S U L T S SAADIYAT DESALINATION PLANT, ABU DHABI 100 million m³ annually €370 total investment m 33 years 2025-2058 Contract for the finance, construction, operation and maintenance of a reverse osmosis desalination plant 16
Slide 17: Los Cabos Desalination Plant, Mexico
A C C I O N A F Y 2 0 2 4 R E S U L T S LOS CABOS DESALINATION PLANT, MEXICO €79m total investment 25 years 2023-2048 Design, executive project, financing, construction, electromechanical equipment, functional testing, operation, conservation and maintenance of the desalination plant Los Cabos 17
Slide 18: SANEPAR, Brazil
A C C I O N A F Y 2 0 2 4 R E S U L T S SANEPAR, BRAZIL €171m total investment 23 years 2025-2048 Entry into the Brazilian water market with the concession of the sanitation system of 48 cities in the state of Paraná 18
Slide 19: Infrastructure Investment Opportunity
A C C I O N A F Y 2 0 2 4 R E S U L T S INFRASTRUCTURE INVESTMENT OPPORTUNITY $4-6tn annual opportunity 80% in roads, energy, rail and water 19
Slide 20: 2025 Outlook
A C C I O N A F Y 2 0 2 4 R E S U L T S 2025 OUTLOOK €2,700 - 3,000m EBITDA EBITDA Operations: €2,200 - 2,250m + EBITDA Rotation: €500 - 750m Mid-term: double-digit growth Investment ~€3bn €1.5bn from ACCIONA Energía + €1.5bn from the rest of the group cashflow Mid-term: €2.5 - 3bn Net leverage <3.5
Slide 21: Group Financial Information
A C C I O N A F Y 2 0 2 4 R E S U L T S 02 GROUP FINANCIAL INFORMATION
Slide 22: Financial Results Highlights – FY 2024
A C C I O N A F Y 2 0 2 4 R E S U L T S FINANCIAL RESULTS HIGHLIGHTS – FY 2024 FY 2024 % Chg. FY 2024 FY 2023 (€m) vs FY 2023 (€m) (€m) Revenues 19,190 13% Net Investment Cashflow 2,401 3,327 EBITDA 2,455 24% EBT 765 -7% Net Financial Debt 7,128 6,551 (1) Attributable net profit 422 -22% NFD/EBITDA
Slide 23: ESG Results Highlights – FY 2024
A C C I O N A F Y 2 0 2 4 R E S U L T S ESG RESULTS HIGHLIGHTS – FY 2024 Key ESG indicators ESG highlights Social Social FY 2024 FY 2023 % Chg. Social Workforce (FTE) 66,021 57,843 14.1% ▪ There was a significant increase in the total workforce, resulting from the full Women in executive and managem
Slide 24: Investment by Division
A C C I O N A F Y 2 0 2 4 R E S U L T S INVESTMENT BY DIVISION (Million Euro) FY 2024 FY 2023 Net Investment breakdown (€m) Energy 1,538 2,321 Infrastructure 898 267 Construction 236 163 Concessions 580 67 Water 46 14 Urban & Enviromental Services 36 23 Nordex 159 376 Other Activities 184 158 Ordina
Slide 25: Net Debt Evolution
A C C I O N A F Y 2 0 2 4 R E S U L T S NET DEBT EVOLUTION Net debt reconciliation FY 2024 (€m) OPERATING CF NET INVESTMENT CF FINANCING/OTHERS CF €2,173m -€2,401m -€271m (24) (11) (2,997) (3,651) (3,217) (2,078) (1) Debt associated to work in progress IFRS16 adjustment Derivatives (1) Debt related
Slide 26: ACCIONA Energía
A C C I O N A F Y 2 0 2 4 R E S U L T S 03 ACCIONA ENERGÍA See full disclosure of ACCIONA Energía’s FY 2024 Results in Appendix II
Slide 27: FY 2024 Results Highlights
A C C I O N A F Y 2 0 2 4 R E S U L T S FY 2024 RESULTS HIGHLIGHTS FY 2024 % Chg. % Chg. FY 2024 (€m) vs FY 2023 vs FY 2023 Revenues 3,048 -14% Total capacity (MW) 15,354 14% Generation Revenues 1,637 -12% Consolidated capacity (MW) 13,630 12% EBITDA 1,123 -13% Total production (GWh) 26,708 7% EBT 4
Slide 28: Infrastructure
A C C I O N A F Y 2 0 2 4 R E S U L T S 04 INFRASTRUCTURE
Slide 29: Infrastructure – Backlog Breakdown
A C C I O N A F Y 2 0 2 4 R E S U L T S INFRASTRUCTURE – BACKLOG BREAKDOWN New record in infrastructure backlog with increasing weighting of collaborative & concessional contracts Backlog by activities Global Backlog Var.(%) Aggregate Backlog (2) Var.(%) Dec 2024 vs. Dec 2024 vs. €53,843m 31-Dec-24
Slide 30: Infrastructure – Investments in Concession Assets
A C C I O N A F Y 2 0 2 4 R E S U L T S INFRASTRUCTURE – INVESTMENTS IN CONCESSION ASSETS EQUITY COMMITMENTS 2025-2032 (€M) T R A N S P O R TAT I O N , H O S P I TA L AND TRANSMISSION LINES €2.3bn committed (2025 to 2032) 2,920 €32.7bn (1) 669 o Dividends and cash distributions for ACCIONA: €56.4bn
Slide 31: Infrastructure – Financial Figures FY 2024
A C C I O N A F Y 2 0 2 4 R E S U L T S INFRASTRUCTURE - FINANCIAL FIGURES FY 2024 Key figures FY 2024 EBITDA evolution (€m) (Million Euro) FY 2024 FY 2023 Chg.(€m) Chg. (%) Construction Revenues 6,680 6,301 380 6.0% EBITDA 472 370 101 27.4% Margin (%) 7.1% 5.9% +38.4% Concessions Revenues 86 50 36
Slide 32: Construction
A C C I O N A F Y 2 0 2 4 R E S U L T S CONSTRUCTION High profitability & backlog growth Key figures FY 2024 Key highlights FY 2024 ▪ 6.0% growth in Revenues and 27.4% growth in EBITDA reaching €472m, with record (Million Euro) FY 2024 FY 2023 Chg. Chg. (%) margins of 7.1% vs 5.9% in 2023 Revenues 6
Slide 33: Concessions
A C C I O N A F Y 2 0 2 4 R E S U L T S CONCESSIONS Young portfolio gradually increasing its contribution to group financial results Key figures FY 2024 Key highlights FY 2024 ▪ Revenues grew by 72.0% reaching €86m and EBITDA by 152.8% to €170m (Million Euro) FY 2024 FY 2023 Chg. Chg. (%) (€67m in F
Slide 34: Water
A C C I O N A F Y 2 0 2 4 R E S U L T S WATER Stable margins & growth in backlog Key figures FY 2024 Key highlights FY 2024 ▪ 2.0% decrease in revenues and 1.7% decrease in EBITDA reaching €93m as a result of (Million Euro) FY 2024 FY 2023 Chg. Chg. (%) the lower contribution from projects under com
Slide 35: Nordex
A C C I O N A F Y 2 0 2 4 R E S U L T S 05 NORDEX
Slide 36: Nordex
A C C I O N A F Y 2 0 2 4 R E S U L T S NORDEX Delivery on all targets and guidance Key figures FY 2024 – Nordex reported Key highlights FY 2024 (Million Euro) FY 2024 FY 2023 Chg.(€m) Chg. (%) ▪ Nordex's revenues in 2024 increased by 12.5% to €7.299m, in line with company Revenues 7,299 6,489 810 1
Slide 37: Other Activities
A C C I O N A F Y 2 0 2 4 R E S U L T S 06 OTHER ACTIVITIES
Slide 38: Living (Property Development)
A C C I O N A F Y 2 0 2 4 R E S U L T S LIVING (Property Development) >1.100 housing deliveries with high margin Key figures FY 2024 Key highlights FY 2024 ▪ 124.7% increase in Revenues and €43m EBITDA as a result of the increase in the (Million Euro) FY 2024 FY 2023 Chg. Chg. (%) number of houses d
Slide 39: Bestinver
A C C I O N A F Y 2 0 2 4 R E S U L T S BESTINVER Strong growth of EBITDA and AUM in FY 2024 Key figures FY 2024 Key highlights FY 2024 ▪ 17.5% increase in Revenues, in line with the increase in the average Assets Under (Million Euro) FY 2024 FY 2023 Chg. Chg. (%) Management (AUM) Revenues 113 96 17
Slide 40: Appendix (I)
A C C I O N A F Y 2 0 2 4 R E S U L T S 07 APPENDIX (I)
Slide 41: Net Financial Debt
A C C I O N A F Y 2 0 2 4 R E S U L T S NET FINANCIAL DEBT Net financial debt breakdown (€m) Net debt & cash interest evolution (€m) Average Average Av. maturity undrawn cost of debt debt maturity (years) Credit Lines (years) Project Debt Corporate Debt 41
Slide 42: Debt Maturity & Breakdown
A C C I O N A F Y 2 0 2 4 R E S U L T S DEBT MATURITY & BREAKDOWN Liquidity and gross debt maturity schedule (€m) 9,325 Available facilities 2,710 1,783 1,849 1,120 1,120 974 579 844 Cash Debt breakdown by nature Gross financial debt – Level Gross financial debt – Currency Gross financial debt – Int
Slide 43: Main Construction Projects
A C C I O N A F Y 2 0 2 4 R E S U L T S MAIN CONSTRUCTION PROJECTS EUROPE NORTH AMERICA North London Heat and Power Project: €954m (100%) Palma de Mallorca Airport Terminal: €218m (100%) Vancouver Metro: €1,100m (60%) Moss Railway: €654m (45%) Tunnel Road S19 Domaradz-Iskrzynia: €184m (100%) Fargo D
Slide 44: Concessions – Assets Excluding Water
A C C I O N A F Y 2 0 2 4 R E S U L T S CONCESSIONS – ASSETS CONCESSIONS EXCLUDING WATER Name Description Period Country ACCIONA Status Accounting method Asset type Remodeling, restoration, operation and maintenance of a 76.5km strech of an existing road between km 62 (A-2) and km 139 (border of A2
Slide 45: Concessions – Main Water Concessions Under IFRIC12
A C C I O N A F Y 2 0 2 4 R E S U L T S CONCESSIONS – DETAILS OF THE MAIN WATER CONCESSIONS UNDER IFRIC12 Name Description Period Country ACCIONA Status Accounting method Asset type EDAR 8B Construction, operation and maintenance of the wastewater treatment plant "08B Zone" of Aragon 2008 - 2031 Spa
Slide 46: Sustainable Finance
A C C I O N A F Y 2 0 2 4 R E S U L T S SUSTAINABLE FINANCE Gross Corporate Debt Financing Total 2024 Outstanding 2024 Amount Type of Financing Outstanding Instruments (#) Instruments (#) (€m) €8,688m 19% Amount (€m) Green/Sust. Linked Conventional 74 25 1,087 5,404 Green Corporate Debt Financing Co
Slide 47: Appendix (II) ACCIONA Energía FY 2024 Results
A C C I O N A F Y 2 0 2 4 R E S U L T S 08 APPENDIX (II) ACCIONA Energía FY 2024 Results
Slide 48: Key Highlights FY 2024
A C C I O N A F Y 2 0 2 4 R E S U L T S KEY HIGHLIGHTS FY 2024 MEETING TARGET OF ~1BN EBITDA FROM OPERATIONS & PROTECTING THE BALANCE SHEET › Strong recovery in achieved prices in H2 compensates lower output in Mexico, US and Australia – EBITDA from Operations of €1,050m, total EBITDA of €1,123m › T
Slide 49: Good Strategic Progress in 2024
A C C I O N A F Y 2 0 2 4 R E S U L T S GOOD STRATEGIC PROGRESS IN 2024 GROWTH BALANCE SHEET ACTIONS +2 GW › New capacity of 2 GW – another record year €500m › Moderated capex 2024-25 by ~€500m. Contained added capacity capex moderation increase in Net Debt in 2024, resulting in 3.63x ND/EBITDA at p
Slide 50: Additional Highlights 2024
A C C I O N A F Y 2 0 2 4 R E S U L T S ADDITIONAL HIGHLIGHTS 2024 GROWTH → Commissioning of the company’s largest solar project: Red-Tailed Hawk (458 MW) in US → Start of energisation of Forty Mile wind farm (279 MW) in Canada → Commissioning of Cotoperí PV (163 MW) in the Dominican Republic and st
Slide 51: Record-High Investment in 2024 with 2 GW Added
A C C I O N A F Y 2 0 2 4 R E S U L T S RECORD-HIGH INVESTMENT IN 2024 WITH 2 GW ADDED EVOLUTION OF ANNUAL CAPACITY ADDITIONS PIPELINE UPDATE (GW) Investment cycle peak in 2023-24 2.0 GW 4.1 GW Secured and 12% under 1.7 GW construction 3.3 GW 10% Highly Visible Q4 1,079 MW 15.2 GW 44% Advanced Devel
Slide 52: ACCIONA Energía Footprint
A C C I O N A F Y 2 0 2 4 R E S U L T S ACCIONA ENERGÍA FOOTPRINT Expected consolidated Expected production Potential capacity Project pipeline for the GW capacity at year-end 2025 in 2025 additions 2025-27 period 2026-29 1 EUROPE GW 4.5 GW ~10 TWh 34% of total ~35% of total NORTH AMERICA 650 MW 5.7
Slide 53: Renewable Energy Prospects in Our Markets
A C C I O N A F Y 2 0 2 4 R E S U L T S RENEWABLE ENERGY PROSPECTS IN OUR MARKETS RE capacity additions RE capacity additions Expected demand Non-renewable energy growth 2025-35 2025-35 (multiple). GW 2025-35 (GW). generation (%) as of 2023 Excl. hydro Excl. hydro EUROPE › RepowerEU – reducing gas d
Slide 54: ACCIONA Energía in the US Market
A C C I O N A F Y 2 0 2 4 R E S U L T S ACCIONA ENERGIA IN THE US MARKET ACCIONA ENERGIA PRESENCE IN THE US 3.4 GW ~5.5 TWh 2.9 GW 760 MW Expected capacity at year- Expected production in Pipeline 2025-29 (excl. Scheduled capacity additions end 2025. No offshore wind 2025 assets under construction)
Slide 55: 2025: Consolidating ACCIONA Energía's Transformation
A C C I O N A F Y 2 0 2 4 R E S U L T S 2025: CONSOLIDATING ACCIONA ENERGÍA’S TRANSFORMATION 2 0 25 P R I ORI TI ES GEOGRAPHICAL › Lower weight of Spain, focus on strategic PEAK CAPEX: TURNING › Strong deleveraging & stabilisation at long- FOOTPRINT THE CORNER term sustainable IG ratios markets REPO
Slide 56: ACCIONA Energía in 2026 and Beyond
A C C I O N A F Y 2 0 2 4 R E S U L T S ACCIONA ENERGIA IN 2026 AND BEYOND STRONG BALANCE SHEET SELECTIVE AND FLEXIBLE GROWTH HIGH CASHFLOW VISIBILITY › Investment grade ratings protected and › No fixed MW targets › Maintain ~70% of revenues long-term preserved › A more moderate and steady growth pa
Slide 57: Deleveraging 2025 – Falling Capex + Higher Rotation
A C C I O N A F Y 2 0 2 4 R E S U L T S DELEVERAGING 2025 – FALLING CAPEX + HIGHER ROTATION CAPEX & WORK IN PROGRESS APPROXIMATE USES & SOURCES PERIOD 2024-25 2.9 2.3 2.2 3 bn 3 bn 1.5 ~1.5 1.3 1.4 0.8 <1.0 ~0.5 1.2 bn 0.4 bn 0.5 0.7 bn Operating CF Asset Rotation Net Dividends & Debt (generated Inv
Slide 58: Asset Rotation in 2025
A C C I O N A F Y 2 0 2 4 R E S U L T S ASSET ROTATION IN 2025 Successful closing of 626 MW hydro sale to Endesa on 26 Feb 2025 contributing ~€425m of EBITDA from Asset Rotation in 2025 (1) ASSET ROTATION STRATEGY Flexible perimeters allowing market testing enabling selection of deals that maximize
Slide 59: Indicative Balance Sheet Capacity – 2026 Onwards
A C C I O N A F Y 2 0 2 4 R E S U L T S INDICATIVE BALANCE SHEET CAPACITY – 2026 ONWARDS CURRENT MARKET CONDITIONS INVESTMENT GRADE CREDIT RATIO CONSTRAINTS FFO N et Leverage CAPEX per MW Financing cost Captured price > > N D/EBITDA from Operations +1.25-1.50 GW p.a. 600-800 MW p.a. ~700 MW p.a. Gro
Slide 60: Outlook 2025
A C C I O N A F Y 2 0 2 4 R E S U L T S OUTLOOK 2025 € 1,500 - 1,750 m CONSOLIDATED ~27 TWh EBITDA 2025 EBITDA from Operations ~€1,000m Spain ~9.5TWh EBITDA from Asset Rotation €500-750m OUTPUT International ~17.5TWh INVESTMENT ~€ 1.5 bn NEW CAPACITY ~1 GW CASHFLOW Gross of asset rotation INSTALLED
Slide 61: FY 2024 ESG Highlights
A C C I O N A F Y 2 0 2 4 R E S U L T S FY 2024 ESG HIGHLIGHTS Key ESG indicators ESG highlights Environmental FY 2024 FY 2023 Chg. ENVIRONMENTAL CAPEX aligned with the low-carbon taxonomy (%) 100% 100% - › 100% of the company's CAPEX was aligned with the European Taxonomy of Sustainable Activities
Slide 62: Investment
A C C I O N A F Y 2 0 2 4 R E S U L T S INVESTMENT Gross Ordinary Capex Ordinary Key highlights (Million Euro) Capex Deferral Capex Spain 250 -12 238 › Investment mainly related to the construction of new USA & Canada 653 276 929 generation assets Mexico 9 0 9 › Most of the investment effort related
Slide 63: Net Debt Evolution
A C C I O N A F Y 2 0 2 4 R E S U L T S NET DEBT EVOLUTION Net debt reconciliation FY 2024 (€m) NET FINANCING OPERATING CF INVESTMENT CF OTHERS CF €807m -€1,224 €107m (2,213) (2,864) (1,307) (348) (2) (1) Debt associated to work in progress (3) IFRS16 adjustment 1. IFRS16 liability as of December 20
Slide 64: Spain – Revenue Drivers
A C C I O N A F Y 2 0 2 4 R E S U L T S SPAIN – REVENUE DRIVERS Consolidated output (GWh) Average achieved prices – regulated vs. wholesale (€/MWh) +5% +10% -12% +14% -36% -29% 20% -21% 62% +2% 19% Generation revenues (€m) -23% Average achieved price composition (€/MWh) -18% (€/MWh) FY 2024 FY 2023
Slide 65: Spain – Operating Results
A C C I O N A F Y 2 0 2 4 R E S U L T S SPAIN – OPERATING RESULTS Key figures FY 2024 EBITDA evolution (€m) (Million Euro) FY 2024 FY 2023 Chg. (€m) Chg. (%) Generation 855 1,105 -250 -22.7% Intragroup adjust., Supply & Other 1,034 1,321 -287 -21.7% Revenues 1,889 2,426 -538 -22.2% Generation 460 67
Slide 66: International – Revenue Drivers
A C C I O N A F Y 2 0 2 4 R E S U L T S INTERNATIONAL – REVENUE DRIVERS Consolidated output (GWh) Average achieved prices (€/MWh) +25% +12% -19% -7% +7% -9% +104% -7% 22% -10% +4% 10% -24% 45% 15% 21% 32% Generation revenues (€m) +2% +5% +11% +86% 29% -16% 8% 15% +9% 27% %Chg. vs FY 2023 21% Note: T
Slide 67: International – Operating Results
A C C I O N A F Y 2 0 2 4 R E S U L T S INTERNATIONAL – OPERATING RESULTS Key figures FY 2024 EBITDA evolution (€m) (Million Euro) FY 2024 FY 2023 Chg. (€m) Chg. (%) Generation 782 746 36 4.8% USA & Canada 167 153 14 9.5% Mexico 211 252 -41 -16.2% Chile 114 61 52 85.8% Australia 61 55 6 10.7% +13.2%
Slide 68: ACCIONA Energía – Operating Results
A C C I O N A F Y 2 0 2 4 R E S U L T S ACCIONA ENERGÍA – OPERATING RESULTS Key figures FY 2024 EBITDA evolution (€m) (Million Euro) FY 2024 FY 2023 Chg. (€m) Chg. (%) Generation Spain 855 1,105 -250 -22.7% Generation International 782 746 36 4.8% Intragroup adjust., Supply & Other 1,412 1,696 -285
Slide 69: Net Financial Debt
A C C I O N A F Y 2 0 2 4 R E S U L T S NET FINANCIAL DEBT Average Average debt Av. maturity Net financial debt breakdown (€m) cost of debt maturity (years) Credit Lines (years) Project Debt Corporate Debt Debt breakdown by nature Gross financial debt – Level Gross financial debt – Currency Gross fi
Slide 70: Debt Maturity & Liquidity
A C C I O N A F Y 2 0 2 4 R E S U L T S DEBT MATURITY & LIQUIDITY Liquidity and debt principal maturity schedule (€m) 2,660 Available facilities 1,135 696 572 587 613 Cash 223 195 106 70
Slide 71: Commercial Policy/Hedges Spain
A C C I O N A F Y 2 0 2 4 R E S U L T S COMMERCIAL POLICY/HEDGES SPAIN SPANISH CONSOLIDATED OUTPUT 2022-25 (TWH) 87% 78% 80% ~80% Contracted vs. Wholesale 11.1 TWh 10.1 TWh ~9.5 TWh 9.3 TWh €62 MWh €79 €167 MWh ~€70 MWh Assumes Spanish pool price at ~€75/MWh – final captured price of ~€70/MWh assume
Slide 72: Global Reach Across 5 Continents
A C C I O N A F Y 2 0 2 4 R E S U L T S GLOBAL REACH ACROSS 5 CONTINENTS With presence in 24 countries & 15.4 GW of total installed capacity in FY 2024 (1) OTHER AMERICAS Total Installed Total Consolidated (0.8 GW) SPAIN (5.7 GW) capacity capacity 0.6 GW 4.6 GW 0.3 GW 2MW 15.4 GW 13.6 GW Forty Mile
Slide 73: Under Construction & Secured Projects
A C C I O N A F Y 2 0 2 4 R E S U L T S UNDER CONSTRUCTION & SECURED PROJECTS MW Scheduled MW Add. per year (1) % ANE Total project Added Currently Country Technology Asset name 2025 2026 2027 Details stake capacity 2024 under const. Australia PV Aldoga 100% 487 380 107 107 Private PPA Canada Wind F
Slide 74: Capex & Commodity Price Evolution
A C C I O N A F Y 2 0 2 4 R E S U L T S CAPEX & COMMODITY PRICE EVOLUTION Representative CAPEX costs in the market (1) Commodity price inflation (indexed to 100) (€m/MW, z €m/MWh for BESS) z 1. Capex costs do not include development costs/fees 74
Slide 75: Energy Resource in Context: P50 Deviation
A C C I O N A F Y 2 0 2 4 R E S U L T S ENERGY RESOURCE IN CONTEXT P50 Deviation 75
Slide 76: Installed Capacity
A C C I O N A F Y 2 0 2 4 R E S U L T S INSTALLED CAPACITY Installed MW (31 December 2024) Total Consolidated Eq. accounted Net Spain 5,718 5,191 252 5,288 Wind 4,630 4,116 246 4,210 Hydro 693 693 0 693 Solar PV 333 318 6 325 Biomass 61 61 0 59 Storage 2 2 0 2 International 9,635 8,439 371 8,009 Win
Slide 77: Equity Accounted Capacity
A C C I O N A F Y 2 0 2 4 R E S U L T S EQUITY ACCOUNTED CAPACITY Proportional figures (31 December 2024) MW GWh EBITDA (€m) NFD (€m) Wind Spain 246 582 16 -17 Wind International 76 159 3 -9 Australia 32 67 2 -9 Hungary 0 15 1 0 Vietnam 21 65 0 0 USA 23 12 0 0 Solar PV 302 540 16 125 Total equity ac
Slide 78: Equity Accounted Contribution to EBITDA
A C C I O N A F Y 2 0 2 4 R E S U L T S EQUITY ACCOUNTED CONTRIBUTION TO EBITDA (Million Euro) FY 2024 FY 2023 Chg. (€m) Chg. (%) Spain 5 71 -65 -92.8% International -10 13 -23 -177.8% Portugal 0 10 -10 Hungary 0 1 -1 Egypt 1 4 -3 USA -1 0 -1 Mexico -11 -3 -8 Australia 1 1 0 Total Generation EBITDA
Slide 79: Spain – Achieved Prices
A C C I O N A F Y 2 0 2 4 R E S U L T S SPAIN – ACHIEVED PRICES Consolidated Achieved price (€/MWh) Revenues (€m) production Market Rinv+Ro Banding Total Market Rinv+Ro Banding Total (GWh) FY 2024 Regulated 2,097 60.1 14.1 15.2 89.4 126 29 32 187 Wholesale - hedged 6,852 77.6 77.6 532 532 Wholesale
Slide 80: Wind – Drivers by Country
A C C I O N A F Y 2 0 2 4 R E S U L T S WIND – DRIVERS BY COUNTRY FY 2024 FY 2023 Chg. (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) Spain Average 78.6 22.3% 103.6 22.8% -24.2% Spain - Regulated 114.8 89.7 28.0% Spain - Not regulated 68.6 107.5 -36.2% Canada 56.6 30.5% 62.7
Slide 81: Other Technologies – Drivers by Country
A C C I O N A F Y 2 0 2 4 R E S U L T S OTHER TECHNOLOGIES – DRIVERS BY COUNTRY Other technologies prices (€/MWh) and Load factors (%) (1) FY 2024 FY 2023 Chg. (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) Hydro Spain 89.7 34.0% 126.0 22.9% -28.8% Biomass Spain 152.5 70.1%
Slide 82: Sustainable Finance and ESG Ratings
A C C I O N A F Y 2 0 2 4 R E S U L T S SUSTAINABLE FINANCE AND ESG RATINGS OUTSTANDING FINANCING (1) 2024 Total 2024 Amount Total Amount Aldoga Project Types of Financing Instruments Instruments (€m) (€m) (#) (#) › Loan structure: Green loan + Local Impact Indicator (Type II). The indicator Green U
Slide 83: Spain – Market Overview
A C C I O N A F Y 2 0 2 4 R E S U L T S SPAIN – MARKET OVERVIEW Pool price evolution (€/MWh) Electricity demand Jan-Dec 2023 2024 2024 63.0 -28% 231.4 233.5 (TWh) +0.9% 133.5 2023 87.1 111.2 22,000 103.3 104.4 2023 2024 93.0 96.0 20,000 89.7 90.5 90.0 74.1 73.7 74.2 72.3 72.6 72.2 91.1 68.6 18,000 6
Slide 84: International – Market Overview
A C C I O N A F Y 2 0 2 4 R E S U L T S INTERNATIONAL – MARKET OVERVIEW Power markets Electricity demand (GW) Exchange rates Commodities Average EUR/USD EUR/AUD 2023 1.082 1.631 2024 1.081 1.644 Chg. (%) 0% -1% Closing EUR/USD EUR/AUD 2023 1.104 1.621 2024 1.039 1.677 Chg. (%) 6% -3% 84
Slide 85: Results Presentation
A C C I O N A F Y 2 0 2 4 R E S U L T S FY 2024 – January – December 2 8 th F e b r u a r y 2 0 2 5 RESULTS PRESENTATION