Corporacion Acciona Energias Renovables Sa · BME:ANE
Corporacion Acciona Energias Renovables Sa — ACCIONA Energía — H1 2026 Earnings Presentation
38 slides from Corporacion Acciona Energias Renovables Sa's earnings presentation, Jul 30, 2026
Slide 1: H1 2026 Results Presentation
H1 2026 – January - June 30 July 2026 RESULTS PRESENTATION
Slide 2: Disclaimer
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S DISCLAIMER This document has been prepared by Corporación Acciona Energías Renovables. S.A. (“ACCIONA Energía” or the “Company” and, together with FORWARD-LOOKING STATEMENTS its subsidiaries, “ACCIONA Energía Group”) exclusively for use during th
Slide 3: Key Highlights & Themes
01 KEY HIGHLIGHTS & THEMES jacciona
Slide 4: Key Highlights H1 2026
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S KEY HIGHLIGHTS H1 2026 H1 ALIGNED WITH 2026 TARGETS › H1 operational performance aligned with full-year targets, with better than expected captured pricing offsetting softer production. 2026 results expected to be back-end loaded given strong H2
Slide 5: Delivering on 2026 Priorities
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S DELIVERING ON 2026 PRIORITIES KEY PRIORITIES OUTLINED FOR 2026 AND RELEVANT MILESTONES ACHIEVED Deleveraging Delivery of key projects as planned › Two additional transactions closed in July securing >€500m › MacIntyre to reach 70-80% total capaci
Slide 6: Sale of 361 MW Wind and 64 MW Hydro Portfolio (Spain)
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S SALE OF 361 MW WIND AND 64 MW HYDRO PORTFOLIO (SPAIN) 1 MW hydro 72 MW wind 63 MW hydro HYDRO TRANSACTION OVERVIEW WIND TRANSACTION OVERVIEW › On 2 July 2026, ACCIONA Energía and 86 MW › On 27 July 2026, ACCIONA Energía and White Summit Capital c
Slide 7: Asset Rotation Progress
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S ASSET ROTATION PROGRESS ILUSTRATIVE TIMING 2024 -2025 2026 Q4 12 nov. 24 26 feb. 25 25 jun. 25 17 sep. 25 3 dic. 25 175 MW hydro Spain - Elawan 64 MW mini-hydro 361 MW wind Spain - White Summit Capital Spain – Galp New Energies 626 MW hydro Spain
Slide 8: Securing Opportunities in a Favorable Market
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S SECURING OPPORTUNITIES IN A FAVORABLE MARKET RECENT RELEVANT INVESTMENT APPROVALS Malgarida BESS El Romero BESS Fleming PV Bani PV › Hybridisation of Malgarida PV plant, › Hybridisation of El Romero PV plant, › Located in Kentucky, USA › Located
Slide 9: Increasing Visibility of Mid-Term Capacity Additions
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S INCREASING VISIBILITY OF MID -TERM CAPACITY ADDITIONS CAPACITY ADDITIONS - 2026 CAPACITY ADDITIONS - 2027 1,148 MW 650-700 MW Hibridación El Romero 196 MW ~400-450 MW Benante 50 MW Panbianco 101 MW 200 MW Malgarida Fleming 235 MW 21 MW AC8 71 MW
Slide 10: Maintaining Outlook FY 2026
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S MAINTAINING OUTLOOK FY 2026 E B I T DA: ~ € 1, 200 m I NVEST MENT: ~ € 0. 9 b n NE T F I NANCI AL D E BT: < € 3 b n 10
Slide 11: Financial Information
02 FINANCIAL INFORMATION jacciona
Slide 12: H1 2026 Results Highlights
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S H1 2026 RESULTS HIGHLIGHTS H1 2026 % Chg. % Chg. H1 2026 (€m) vs H1 2025 vs H1 2025 Revenues 1,288 -12% Total capacity (MW) 14,699 -3% Generation Revenues 687 -10% Consolidated capacity (MW) 13,127 -2% EBITDA 388 -57% Total production (GWh) 14,05
Slide 13: H1 2026 ESG Highlights
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S H1 2026 ESG HIGHLIGHTS Key ESG indicators ESG highlights Environmental H1 2026 H1 2025 Chg. ENVIRONMENTAL CAPEX aligned with the low-carbon taxonomy (%) (1) 100% 100% +0pp › 100% of CAPEX is aligned with the EU Taxonomy for Sustainable Activities
Slide 14: Investment
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S INVESTMENT Gross Ordinary Capex Ordinary (Million Euro) Capex Deferral Capex Spain 29 42 71 USA & Canada -27 7 -20 Mexico 6 0 6 Chile 74 -63 10 Other Americas 50 20 70 Americas 102 -36 66 Australia 66 27 93 Rest of Europe 29 -14 15 Rest of the Wo
Slide 15: Net Debt Evolution
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S NET DEBT EVOLUTION Net debt reconciliation H1 2026 (€m) NET FINANCING OPERATING CF INVESTMENT CF OTHERS CF €160m -€324m -€135m (25) (6) (2,126) (1,795) (1,771) (1,823) (2) (1) Debt associated to work in progress (3) IFRS16 liability Derivatives 1
Slide 16: Spain – Revenue Drivers
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S SPAIN – REVENUE DRIVERS Consolidated output (GWh) Generation revenues (€m) %Chg. vs H1 2025 +33% -9% %Chg. vs H1 2025 -19% -33% -32% -20% 239 53 28% 109 22% -41% 50% 45% -14% 78 22% 33% Regulated Wholesale - Wholesale - Total Hedged Unhedged Reve
Slide 17: Spain – Operating Results
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S SPAIN – OPERATING RESULTS Key figures H1 2026 EBITDA evolution (€m) (Million Euro) H1 2026 H1 2025 Chg. (€m) Chg. (%) -52.9% Generation 239 358 -119 -33.2% Intragroup adjust., Supply & Other 401 488 -88 -18.0% Revenues 640 847 -207 -24.4% Generat
Slide 18: International – Revenue Drivers
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S INTERNATIONAL – REVENUE DRIVERS Consolidated output (GWh) Generation revenues (€m) +12% -8% +10% +0% %Chg. vs H1 2025 %Chg. vs H1 2025 +87% -10% +93% 24% 17% +5% +30% 19% 15% +5% +5% 8% 12% 19% +1% 27% 37% 21% Average achieved prices (€/MWh) %Chg
Slide 19: International – Operating Results
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S INTERNATIONAL – OPERATING RESULTS Key figures H1 2026 EBITDA evolution (€m) (Million Euro) H1 2026 H1 2025 Chg. (€m) Chg. (%) Generation 447 405 42 10.3% +5.8% USA & Canada 96 95 1 1.3% Mexico 119 114 5 4.5% Chile 55 43 13 29.6% Australia 67 35 3
Slide 20: Appendix
03 APPENDIX
Slide 21: ACCIONA Energía – Operating Results
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S ACCIONA ENERGÍA – OPERATING RESULTS Key figures H1 2026 EBITDA evolution (€m) (Million Euro) H1 2026 H1 2025 Chg. (€m) Chg. (%) -16.5% Generation Spain 239 358 -119 -33.2% Generation International 447 405 42 10.3% Intragroup adjust., Supply & Oth
Slide 22: Net Financial Debt
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S NET FINANCIAL DEBT Net financial debt breakdown (€m) Average Average debt Av. maturity cost of debt maturity (years) Credit Lines (years) Project Debt Corporate Debt Debt breakdown by nature Gross financial debt – Level Gross financial debt – Cur
Slide 23: Debt Maturity & Liquidity
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S DEBT MATURITY & LIQUIDITY Liquidity and debt principal maturity schedule (€m) 2,832 Available facilities 1,447 752 596 621 487 459 Cash 112 23
Slide 24: Commercial Policy/Hedges Spain
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S COMMERCIAL POLICY/HEDGES SPAIN SPANISH CONSOLIDATED OUTPUT 2022-26 (TWH) 78% 80% 84% 80% 77% Contracted vs. Wholesale 11.1 TWh 10.1 TWh €62 8.4 TWh MWh €79 ~8 TWh MWh ~8 TWh €89 €70 MWh MWh ~€55-60 €102 MWh ~€55-60 MWh MWh €121 MWh ~€95-100 €95 M
Slide 25: Global Reach Across 5 Continents
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S GLOBAL REACH ACROSS 5 CONTINENTS With presence in 22 countries & 14.7 GW of total installed capacity in H1 2026 (1) OTHER AMERICAS Total Installed Total Consolidated (1 GW) SPAIN (4.8 GW) capacity capacity 0.5 GW 4.3 GW 0.1 GW 2 MW Senda y Camino
Slide 26: Under Construction & Secured Projects
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S UNDER CONSTRUCTION & SECURED PROJECTS MW Scheduled MW Add. per year (1) Total project Added Currently under Country Technology Asset name % ANE stake 2026 2027 2028 Details capacity 2026 const. Croatia PV Promina 100% 190 190 67 124 Croatian rene
Slide 27: Capex & Commodity Price Evolution
A C C I O N A E N E R G Í A H 1 2 0 2 6 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 300 700 Copper, Aluminium, Steel Rebar & Polysilicon 1.37 1.39 1.39 600 1.35 1.35 250 1.20 1.09
Slide 28: Energy Resource in Context: P50 Deviation
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S ENERGY RESOURCE IN CONTEXT P50 Deviation Cumulative Resource Deviation vs. P50 Throughout the Year The dotted lines represent the historical cumulative deviations in renewable resource availability over the course of the year. While cumulative de
Slide 29: Installed Capacity
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S INSTALLED CAPACITY Installed MW (30 June 2026) Total Consolidated Eq. accounted Net Spain 4,794 4,266 252 4,364 Wind 4,284 3,770 246 3,864 Hydro 64 64 0 64 Solar PV 333 318 6 324 Biomass 111 111 0 109 Storage 2 2 0 2 International 9,905 8,861 368
Slide 30: Equity Accounted Capacity
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S EQUITY ACCOUNTED CAPACITY Proportional figures (30 June 2026) MW GWh EBITDA (€m) NFD (€m) Wind Spain 246 270 5 -14 Wind International 73 93 4 -10 Australia 31 35 0 -10 Vietnam 42 57 4 0 USA 0 1 0 0 Solar PV 301 243 3 105 Total equity accounted 62
Slide 31: Equity Accounted Contribution to EBITDA
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S EQUITY ACCOUNTED CONTRIBUTION TO EBITDA (Million Euro) H1 2026 H1 2025 Chg. (€m) Chg. (%) Spain 0 6 -7 -104.3% International -9 -1 -8 n.m. Egypt 2 2 0 Mexico -8 -2 -6 Australia 0 0 0 Vietnam -2 0 -2 Thailand -1 0 -1 Total Generation EBITDA equity
Slide 32: Spain – Achieved Prices
A C C I O N A E N E R G Í A H 1 2 0 2 6 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) H1 2026 Regulated 900 47.8 48.1 -9.2 86.7 43 43 -8 78 Wholesale - hedged 2,021 53.9 53.9 109 109
Slide 33: Wind – Drivers by Country
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S WIND – DRIVERS BY COUNTRY Wind prices (€/MWh) and Load factors (%) (1) H1 2026 H1 2025 Chg. (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) Spain Average 55.5 21.8% 70.0 21.2% -20.7% Spain - Regulated 68.3 94.0 -27.3% Spai
Slide 34: Other Technologies – Drivers by Country
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S OTHER TECHNOLOGIES – DRIVERS BY COUNTRY Other technologies prices (€/MWh) and Load factors (%) (1) H1 2026 H1 2025 Chg. (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) LF (%) Av. price (€/MWh) Hydro Spain 59.6 35.0% 97.8 36.1% -39.1% Biomass Spain
Slide 35: Sustainable Finance & ESG Ratings
A C C I O N A E N E R G Í A H 1 2 0 2 6 R E S U L T S SUSTAINABLE FINANCE & ESG RATINGS OUTSTANDING FINANCING (1) H1 2026 Live H1 2026 Total Types of Financing Instruments Instruments Amounts Amounts (#) (#) (€m) (€m) Green Green UoP -- 8 -- 2,774 Finance Green UoP+Local Impact -- 6 -- 1,979 Sustain
Slide 36: Spain – Market Overview
A C C I O N A E N E R G I A H 1 2 0 2 6 R E S U L T S SPAIN – MARKET OVERVIEW Pool price evolution(1) (€/MWh) Electricity demand 2025 2026 Jan-Jun 25 Jan-Jun 26 2025 2026 Jan-Jun 25 Jan-Jun 26 24,000 121 120 108.3 22,000 120 96.7 93.5 93.6 95.9 87.5 91.0 120 20,000 77.9 +1.7% 71.7 75.7 119 72.6 18,0
Slide 37: International – Market Overview
A C C I O N A E N E R G Í A H 1 2 0 2 5 R E S U L T S INTERNATIONAL – MARKET OVERVIEW Power markets 2 Electricity demand (GW) 2 2 emand (GW) /MWh 1 S /MWh - A 12 Monthl 2 1 ul-2 Aug-2 Sep-2 Oct-2 ov-2 ec-2 an-2 eb-2 Mar-2 Apr-2 Ma -2 un-2 ul-2 Aug-2 Sep-2 Oct-2 ov-2 ec-2 an-2 eb-2 Mar-2 Apr-2 Ma -2
Slide 38: Results Presentation
H1 2026 – January - June 30 July 2026 RESULTS PRESENTATION