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3 0 J u l y 2026H 1 2 0 2 6 – 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
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2 DISCLAIMER This document has been prepared by Corporación Acciona Energías Renovables. S.A. (“ACCIONA Energía” or the “Company” and, together with its subsidiaries, “ACCIONA Energía 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 Energía 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 Energía 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 Energía. 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. 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 Energía 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 Energía, 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 Energía believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of ACCIONA Energía 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 Energía, 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 Energía 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 ACCIONA Energía. 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, ACCIONA Energía or any of its 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 Energía, on the date hereof. Except as required by applicable law, ACCIONA Energía 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 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. 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
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01 K E Y H I G H L I G H T S & T H E M E S
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KEY HIGHLIGHTS H1 2026 H 1 A L I G N E D W I T H 2 0 2 6 T A R G E T S › 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 outlook for Spanish prices and ~€310m EBITDA from Asset Rotation already secured with July disposals. › EBITDA from Operations amounts to €388m compared to €464m the year before. Adjusting for the contribution from assets sold last year and the positive regulatory one-off in Spain in H1 2025, growth in EBITDA from Operations would be positive. Unlike H1 2025, EBITDA from Asset Rotation in H1 2026 was zero with transactions concentrated in the second half. › Spanish EBITDA from Operations declines due to perimeter changes (hydro and wind disposals) and by low prices due to exceptional high hydro volumes in the system, which compare against high prices in H1 2025 and a positive one-off regulatory item recorded during that period. › International EBITDA from Operation increases with strong captured prices, particularly in Chile, and growth in output from newly commissioned capacity (notably Aldoga and MacIntyre in Australia, and Juna in India), offsetting the impact of asset rotation › Below the EBITDA line, results include a €15m write-down of the Moura PV plant in Portugal and a €21m provision for restructuring costs (efficiency programme) › Net debt increases from €4.2bn to €4.4bn reflecting investment and the absence of asset rotation proceeds during the period. Proforma for transactions signed and closed in July: €3.9bn › New additions progressing according to schedule toward the ~0.7 GW year-end target (245 MW installed in H1 2026 and +400-450 MW expected in H2) G O O D P R O G R E S S I N A S S E T R O T A T I O N - M A T E R I A L I S I N G I N H 2 › Asset rotation progressing: two new disposals closed in July, and working on a wide range of potential incremental deals beyond 2025 announced transactions › Sale of 64 MW of hydro assets in Spain: completed in July 2026 with total proceeds of €66m and EBITDA from Asset Rotation of ~€55m › Sale of 361 MW of wind assets in Spain: completed in July 2026 with total proceeds of €432m and EBITDA from Asset Rotation of ~€255m › Additional transactions launched that provide headroom to meet incremental asset rotation objectives › Transactions announced in late 2025 and pending closing: South Africa (232 MW), Mexico (321 MW) and USA (49% of 1,313 MW PV portfolio) › FY target of ~€2bn in asset rotation proceeds remains unchanged, with 50% of the ~€1bn incremental transactions target already achieved and EBITDA from Asset Rotation of more than €300m already secured 4 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 H 2 F O C U S : M E E T D E L E V E R A G I N G T A R G E T , P R O J E C T C O M M I S S I O N I N G A N D G RO W T H A C C E L E R A T I O N › Delivery of H2 asset rotation proceeds target to reduce net debt below €3bn by year-end › Ongoing implementation of efficiency measures: organizational optimization and cost-saving plans › Commissioning of key projects: MacIntyre to reach 70-80% capacity by year-end and be fully operational during Q1 2027 › Back to growth: consolidate re-acceleration of capacity additions supported by attractive renewable market fundamentals while maintaining prudent credit ratios. High 2027 visibility: –1,150 MW of new capacity additions already secured
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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 5 K E Y P R I O R I T I E S O U T L I N E D F O R 2 0 2 6 A N D R E L E V A N T M I L E S T O N E S A C H I E V E D Selective battery storage + repowering initiatives › BESS projects approved and launching construction (2,000 MWh in Chile and two small ones in Spain). Opportunities under analysis in other regions › Recent award of European funding (€30m) for the repowering of a 126 MW wind cluster in Spain (Sierra de Izco) › Optionality and increasing market interest for US projects reaching end of useful life/PPA. Data Center/powered land opportunities in markets like ERCOT Business development model transformation › Comprehensive portfolio review aligned with the new business development strategy: coexisting Develop-to-Own with Develop-to-Sell › Renewed focus and additional efforts to accelerate portfolio expansion Strategic review of non -generation business › Energy Services business: repositioning towards high value energy-as-a- service industrial sector › EV charging infrastructure: focus on premium locations and adapting deployment to current evolution of electric vehicle market Implementing efficiency measures › Ongoing organizational optimization › Consolidate delivery of cost cutting targets – aiming for c. €40m annualized savings (2027) Delivery of key projects as planned › MacIntyre to reach 70-80% total capacity in operation by year-end › Logrosán biomass power plant already operating at full capacity and benefiting from current high spot electricity prices › ~1.75 GW incremental additions secured for the period H2 2026 to 2028 Deleveraging › Two additional transactions closed in July securing >€500m › Large portfolio of additional asset rotation transactions to provide ample headroom towards 2026 year-end target
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€432m of proceeds 6 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) › On 27 July 2026, ACCIONA Energía and Galp New Energies – a Galp company – signed and closed the sale of a portfolio of Spanish wind assets totalling 361 MW, for an Equity Value of €432m › ~ 21 years average age of the portfolio › 15 wind assets across different regions 361 MW Spanish Wind portfolio ~0.8 TWh expected average annual output ~21 years average age of the portfolio 1. Capacity-weighted average W I N D T R A N S A C T I O N O V E R V I E W 76 MW 82 MW 16 MW 1 MW hydro 86 MW 1 ~€255m of EBITDA from Asset Rotation › On 2 July 2026, ACCIONA Energía and White Summit Capital closed the sale of a portfolio of Spanish run-of-river hydro assets totalling 64 MW, for an Equity Value of €66m › 23 years average remaining concessional period › 17 plants in Navarra › 1 plant in La Rioja H Y D R O T R A N S A C T I O N O V E R V I E W €66m of proceeds 64 MW Spanish Hydro portfolio 166 GWh expected average annual output ~23 years average remaining concessional period 1 ~€55m of EBITDA from Asset Rotation 72 MW wind 63 MW hydro 29 MW 1.0 €m/MW 1.2 €m/MW
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7 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 ~ € 2 . 1 b n proceeds from completed transactions 801 MW hydro + 625 MW wind ~€0.9bn rotation gains 2024 -2025 2026 ~ € 2 b n 2026 proceeds target ~ €500m proceeds and ~€310m EBITDA from Asset Rotation already secured 64 MW mini-hydro Spain - White Summit Capital 361 MW wind Spain – Galp New Energies 321 MW wind Mexico - MIP More than 1 GW of capacity considered in other potential transactions under analysis Year-end goals: Net Debt < €3bn & FFO Net Leverage< 4.5xAlready executed Pending closing or additional disposals to come Additional non-disclosed potential transactions 175 MW hydro Spain - Elawan 626 MW hydro Spain - Endesa 136 MW wind Peru - Luz del Sur 440 MW wind Spain - Opdenergy 49 MW wind Costa Rica - Ecoenergía 12 nov. 24 26 feb. 25 25 jun. 25 3 dic. 2517 sep. 25 138 MW wind + 94 MW pv South Africa - Cennergi Q4 1.313 MW (49%) pv USA - MIP ILUSTRATIVE TIMING
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SECURING OPPORTUNITIES IN A FAVORABLE MARKET 8 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 R E C E N T R E L E V A N T I N V E S T M E N T A P P R O V A L S Malgarida BESS › Hybridisation of Malgarida PV plant, Chile › Capacity: 200 MW, 5 hours › Improving portfolio production profile and reducing the exposure to market risk in the country El Romero BESS › Hybridisation of El Romero PV plant, Chile › Capacity: 196 MW, 5 hours › Expedite execution: ~15 months from positive FID to energization Fleming PV › Located in Kentucky, USA › Connected in PJM › Capacity: 235MWp/188.5MWn › Expected production: 370 GWh/year › PPA: 100% contracted, 15-year term, as generated › PPA price recently renegotiated well above original price levels Bani PV › Located in the Dominican Republic › Capacity: 200 MWp PV plant + 8.3 MW / 3 hours BESS for frequency regulation › Expected production: 340 GWh/year › PPA: 100% contracted, 15-year term, as generated › 4th asset in the country, consolidating the presence of ACCIONA Energía › Revenues comprising intraday arbitrage + visible and stable capacity payments › Minimizing curtailments from PV plant
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INCREASING VISIBILITY OF MID -TERM CAPACITY ADDITIONS 9 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 C A P A C I T Y A D D I T I O N S - 2026 C A P A C I T Y A D D I T I O N S - 2027 › High visibility for 2027, with 1,148 MW currently secured › 2027 capacity additions in line with current medium-term indicative balance sheet capacity - 1.0–1.2 GW of gross capacity additions per year when combined with asset rotation › Strong regional and technological diversification, with capacity additions across four continents, nine countries and three technologies › Consolidating our presence in Southeast Asia through the completion of two wind farms › Geographical footprint repositioning: further reducing weight of Spain. Only 5% of capacity additions in 2026 located in Spain › Consolidating the presence in the Dominican Republic: 303 MW of PV installed capacity across three assets, following the completion of the installation of Pedro Corto › Back to growth in Chile: 100% of Malgarida BESS expected to be installed in H2 › Broad diversification - PV (39%), followed by wind (32%) and batteries (29%) in 2026 Promina Zen Kalayaan II AC8 Benante Hibridación El Romero Baní Bergriver Hibridación Bolarque I Hibridación El Cuadrón Daanbantayan Fleming Panbianco 650-700 MW 65 MW 50 MW 63 MW 105 MW Pedro Corto Kalayaan II San José Senda y Camino Kalayaan II Zen AC8 Promina Malgarida 20 MW 245 MW 35 MW 67 MW 12 MW 83 MW 178 MW 71 MW 21 MW 200 MW 245 MW ~400-450 MW Installed H1 To be installed H2 124 MW 80 MW 18 MW 94 MW 20 MW13 MW18 MW 131 MW 69 MW 235 MW 101 MW 50 MW 196 MW 1,148 MW 2027
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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 EBITDA: ~ €1,200 m INVESTMENT: ~€0.9 bn NET FINANCIAL DEBT: < €3 bn 10
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02 F I N A N C I A L I N F O R M A T I O N
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12 H1 2026 RESULTS HIGHLIGHTS 1. Average residual contracted life excludes short term hedges in Spanish market (1) 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 (€m) % Chg. vs H1 2025 H1 2026 % Chg. 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) 14,051 3% EBITDA from Operations 388 -17% Consolidated production (GWh) 12,535 4% EBITDA from Asset Rotation 0 n.m. Average price (€/MWh) 54.8 -14% EBT 0 n.m. Captured price - Spain (€/MWh) 59.3 -27% Attributable net profit -18 -104% Captured price - International (€/MWh) 52.6 -1% Average Load Factor (%) 25.6% -1.2pp H1 2026 (€m) H1 2025 (€m) Production contracted (%) 68.6% -3.3pp Net investment cash flow 324 337 Average residual contracted life (years) 9 3% Average age of assets (years) 11 8% 30-Jun-26 (€m) 31-Dec-25 (€m) Net financial debt 4,442 4,161
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13 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 (1) Percentage of Taxonomy-aligned CAPEX over Taxonomy-eligible CAPEX. The percentage of Taxonomy-aligned CAPEX over total CAPEX is 97.7%. (2) H1 2025 data are slightly different to the ones reported in the H1 2025 Results Presentation due to minor adjustments made at the end of 2025 (3) Avoided CO2 emissions due to renewable energy generation (4) Total CO2 emissions after deducting the scope 2 reduction through renewable consumption and renewable attributes purchased in H1 2026 (5) Employees with disabilities in Spain / Workforce in Spain (direct hire) (6) Suppliers audited (%): suppliers audited/suppliers that must be audited (suppliers classified as “strategic”) (7) Commercial and business partners (non suppliers) (8) Sustainable financing / total debt during the period (corporate debt) ENVIRONMENTAL › 100% of CAPEX is aligned with the EU Taxonomy for Sustainable Activities. › The generation of more than 14 TWh of renewable electricity avoided over 7 million tonnes of CO₂e emissions. › Scope 1 and 2 emissions decreased by 4%. The commissioning of the Logrosán biomass plant increased emissions by 588 tCO₂e due to biomass combustion. However, this increase was outweighed by lower natural gas and diesel consumption at the company’s other biomass plants, reduced natural gas consumption at Nevada Solar One, and continued progress in decarbonizing the company fleet. › The strategy of replacing diesel with non-fossil fuels (HVO) continued during the period. HVO use across the company fleet increased significantly compared with H1 2025 (+369%). In addition, using HVO instead of diesel for cold start-ups at the Logrosán biomass plant during commissioning avoided 304 tCO₂e of emissions. › For every tonne of CO₂e emitted, the company avoided 1,562 tonnes of CO₂e emissions. › Waste recovery remained high at 98.6%, despite a 14.6% increase in total waste generation, mainly driven by the slag and ash produced at the Logrosán biomass plant, all of which was recovered. SOCIAL › The frequency index for own and subcontracted employees is 0.13, 69% lower than the previous year, with 10% less hours worked. No fatalities occurred during the period. The Health and Safety Action Plan, launched at the end of 2024, is progressing as planned. › 99 social development projects are being developed generating a lasting positive impact in local communities and benefiting more than 130,000 people across 12 countries. GOVERNANCE › A new ESG audit protocol for suppliers has been implemented, strengthening the assessment of human rights issues. › The company has €5,703m in sustainable financing instruments, with 96% of its corporate debt classified as green or sustainability-linked. ESG highlightsKey ESG indicators Environmental H1 2026 H1 2025 Chg. CAPEX aligned with the low-carbon taxonomy (%) (1) 100% 100% +0pp Renewable production (GWh) 14,051 13,621 3% Avoided emissions (CO₂e million ton) (2,3) 7.98 7.33 9% Generated scope 1+2 emissions (CO₂e thousand ton) (2,4) 5.109 5.301 -4% GHG emissions intensity (tCO2e/GWh) 0.36 0.39 -6% Waste to landfill (thousand ton) (2) 0.38 0.21 81% Recovered waste (%) (2) 98.6% 99.1% -0.5pp Water consumed (hm³) (2) 0.65 0.53 23% 62,303 98,503 -37% Social H1 2026 H1 2025 Chg. Average Workforce (no.) 2,933 3,150 -7% Executive and manager women (%) 26.5% 26.9% -0.4pp People with disabilities in Spain (%) (5) 2.13% 1.98% +0.15pp Social Impact Management projects (no.) 99 93 6% Employees' hours of voluntary work (no.) 1,630 4,088 -60% Accident frequency index - employees & contractors 0.13 0.41 -68% Fatalities (nº) - - n.m. Governance H1 2026 H1 2025 Chg. Suppliers (no.) 2,264 2,549 -11% Audited suppliers (%) (6) 100% 100% +0pp No Go Suppliers (no.) 41 38 8% Due diligence of third parties (no.) (7) 27 32 -16% Sustainable financing (%) (8) 96% 90% +6pp Controversies (%) - - n.m. Net positive emissions through nature-based solutions (no. of trees planted)
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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 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 World 68 9 78 International 266 -13 253 Total 295 29 324
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15 NET DEBT EVOLUTION Net debt reconciliation H1 2026 (€m) OPERATING CF €160m NET INVESTMENT CF -€324m FINANCING OTHERS CF -€135m 1. IFRS16 liability as of December 2025 not included (€537m) 2. Includes Minority dividends, changes in perimeter, IFRS16 lease principal payments (€33m principal, with an additional €15m classified as financial results), as well as Derivatives & FX changes 3. Debt that reflects net investment in assets that are either under construction or that have not contributed a full year of production (prorated debt) IFRS16 liability (2) (1) Debt associated to work in progress (1,771)(1,823) (1,795) (3) 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 (2,126) Derivatives (6) (25)
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78 109 53 239 Regulated Wholesale - Hedged Wholesale - Unhedged Total Revenues 16 SPAIN – REVENUE DRIVERS Consolidated output (GWh) 50% 28% 22% Average achieved price composition (€/MWh) -14% -20% +33% -9% 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 %Chg. vs H1 2025 Average achieved prices – regulated vs. wholesale (€/MWh) %Chg. vs H1 2025 Generation revenues (€m) 45% 22% 33% -41% -32% -19% -33%%Chg. vs H1 2025 -31% -15% -39% -27% (€/MWh) H1 2026 H1 2025 Chg. (%) Achieved market price 45.7 67.2 -32.1% Hedging 4.9 -0.5 n.m. Achieved market price with hedging 50.6 66.7 -24.2% Regulatory income 10.7 3.7 187.9% Banding -2.0 10.5 -119.5% Average price 59.3 80.9 -26.7%
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Consolidated production variation (GWh) 17 SPAIN – OPERATING RESULTS -8.8% Key figures H1 2026 EBITDA evolution (€m) 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 -52.9% (Million Euro) H1 2026 H1 2025 Chg. (€m) Chg. (%) Generation 239 358 -119 -33.2% Intragroup adjust., Supply & Other 401 488 -88 -18.0% Revenues 640 847 -207 -24.4% Generation 88 180 -92 -51.1% Generation - equity accounted 0 6 -7 -104.3% Total Generation 88 186 -99 -52.9% Intragroup adjust., Supply & Other -5 -10 5 53.3% EBITDA from Operations 83 176 -93 -52.9% Generation Margin (%) 36.7% 52.0% EBITDA from Asset Rotation 0 450 -450 n.m. EBITDA 83 626 -543 -86.7%
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18 INTERNATIONAL – REVENUE DRIVERS 18 Consolidated output (GWh) Average achieved prices (€/MWh) 37% 19% 8% 19% 17% +5% +5% -10% +87% +12%+0% -3% -1% +45% +3% -1% -8% Note: The average price in the USA includes €0.9/MWh representing the activity of the battery energy storage system (BESS), which contributed €2.3 million to the margin in H1 2026 and fed 56.3 GWh into the power grid (€41.1/MWh) The average US price does not include tax incentives on the production of projects representing a total 1,211 MW, which receive a “normalized” PTC of $31.5/MWh 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 %Chg. vs H1 2025 Generation revenues (€m) 21% 27% 12% 15% 24% +1% +5% +30% +93% +10%-8% %Chg. vs H1 2025 %Chg. vs H1 2025
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19 INTERNATIONAL – OPERATING RESULTS Consolidated production variation (GWh) +11.6% Key figures H1 2026 EBITDA evolution (€m) 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 +5.8% (Million Euro) H1 2026 H1 2025 Chg. (€m) Chg. (%) Generation 447 405 42 10.3% USA & Canada 96 95 1 1.3% Mexico 119 114 5 4.5% Chile 55 43 13 29.6% Australia 67 35 33 93.2% Rest of the World 109 119 -10 -8.3% Intragroup adjust., Supply & Other 201 217 -16 -7.3% Revenues 648 622 26 4.1% Generation 310 291 19 6.6% USA & Canada 60 73 -13 -17.7% Mexico 99 80 19 24.2% Chile 41 33 8 24.4% Australia 30 15 16 105.7% Rest of the World 79 90 -11 -12.1% Generation - equity accounted -9 -1 -8 n.m. Total Generation 301 290 11 3.9% Intragroup adjust., Supply & Other 3 -2 5 n.m. EBITDA from Operations 305 288 17 5.8% Generation Margin (%) 67.4% 71.5% EBITDA from Asset Rotation 0 -6 6 n.m. EBITDA 305 282 23 8.2%
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03 A P P E N D I X
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Consolidated production variation (GWh) 21 ACCIONA ENERGÍA – OPERATING RESULTS Key figures H1 2026 -298 MW Consolidated capacity variation (MW) +4.1% EBITDA evolution (€m) 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 -16.5% (Million Euro) H1 2026 H1 2025 Chg. (€m) Chg. (%) Generation Spain 239 358 -119 -33.2% Generation International 447 405 42 10.3% Intragroup adjust., Supply & Other 601 705 -104 -14.7% Revenues 1,288 1,469 -181 -12.3% Generation Spain 88 186 -99 -52.9% Generation International 301 290 11 3.9% Intragroup adjust., Supply & Other -1 -12 11 88.3% EBITDA from Operations 388 464 -77 -16.5% Generation Margin (%) 56.7% 62.4% EBITDA from Asset Rotation 0 443 -443 n.m. EBITDA 388 908 -520 -57.3%
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22 NET FINANCIAL DEBT Net financial debt breakdown (€m) Debt breakdown by nature Gross financial debt – Level Gross financial debt – Currency Gross financial debt – Interest rate Corporate debt Average debt maturity (years) Av. maturity Credit Lines (years) Average cost of debt Project Debt Corporate 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
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23 DEBT MATURITY & LIQUIDITY Liquidity and debt principal maturity schedule (€m) 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 2,832 Cash Available facilities 487 752 459 112 596 621 1,447
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24 S P A N I S H C O N S O L I D A T E D O U T P U T 2 0 2 2- 2 6 ( T W H ) 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 84% Contracted vs. Wholesale COMMERCIAL POLICY/HEDGES SPAIN 80%78% 80% 77% 8.4 TWh €71 MWh €158 MWh €102 MWh €79 MWh €60 MWh €95 MWh €89 MWh €62 MWh €55 MWh €66 MWh €121 MWh €70 MWh ~€55-60 MWh ~€70 MWh ~€95-100 MWh ~€55-60 MWh ~8 TWh 10.1 TWh 11.1 TWh ~€55-60 MWh ~€100 -105 MWh ~€55-60 MWh ~8 TWh ~€60 MWh Note: Captured prices include estimated discounts based on the production profiles of individual technologies.
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Notes: (1) Presence in 22 countries: Operational and under construction generation assets (20), energy services company (1) and where we have own employees or participated companies’ employees (2) (2) Acquisition of Eqinov in 2022, specialist provider of corporate energy efficiency and energy management services in France With presence in 22 countries & 14.7 GW of total installed capacity in H1 2026 (1) Total Installed capacity 14.7 GW Total Production 14,051 GWh 4.3 GW0.5 GW U S A ( 2 . 9 G W ) S P A I N ( 4 . 8 G W ) ( 0 . 6 G W ) A U S T R A L I A ( 2 . 0 G W ) C H I L E ( 0 . 9 G W ) M E X I C O ( 1 . 5 G W ) O T H E R A M E R I C A S ( 1 G W ) R E S T O F T H E W O R L D ( 1 . 1 G W ) 64 MW 0.1 GW 0.5 GW 0.1 GW 1.5 GW 0.4 GW 0.7 GW 1.3 GW 64 MW 1.1 GW 0.4 GW 0.3 GW 0.6 GW 0.3 GW MW added in H1 2026 1.3 GW 190 MW 0.5 GW Pedro Corto 20 MW San José 178 MW -448 MW Net variation in total installed capacity in the last 12 months +245 MW Total MWs added in H1 2026 Total Consolidated capacity 13.1 GW -298 MW Net variation in total consolidated capacity in the last 12 months Consolidated Production 12,535 GWh R E S T O F E U R O P E (2) 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 25 GLOBAL REACH ACROSS 5 CONTINENTS 0.5 GW 2 MW Senda y Camino 35 MW Kalayaan II 12 MW Onshore Wind Solar PV Hydro Biomass CSP Battery storage
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26 UNDER CONSTRUCTION & SECURED PROJECTS 1. Capacity constructed, not equivalent to plant COD; subject to change depending on business development progress (1) 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 MW Scheduled MW Add. per year Country Technology Asset name % ANE stake Total project capacity Added 2026 Currently under const. 2026 2027 2028 Details Croatia PV Promina 100% 190 190 67 124 Croatian renewable auction Dominican Rep. PV Pedro Corto 51% 83 20 20 FIT Dominican Rep. PV Baní Solar 100% 200 80 120 FIT South Africa Wind Zen 51% 100 100 83 18 Private PPA South Africa Wind Bergriver 51% 94 94 94 Private PPA Spain Wind Senda y Camino 100% 35 35 35 Private PPA Spain BESS Hibridación Baterías FV Bolarque I 100% 20 20 Energy sales in the wholesale market (arbitrage). Spain BESS Hibridación Baterías El Cuadrón 100% 13 13 Energy sales in the wholesale market (arbitrage). Philippines Wind Kalayaan 2 100% 101 12 89 83 18 Philippines renewable auction Sep 25 Philippines PV Daanbantayan 100% 181 131 50 Philippines renewable auction Sep 25 Thailand Wind AC8 50% 90 90 21 69 PPA with EGAT Peru PV San José 100% 178 178 178 Private PPA USA PV Fleming County Solar 100% 235 235 Private PPA Italy PV Panbianco 100% 101 101 Italian FER-X auction Sep 25 Italy PV Benante 100% 50 50 Italian FER-X auction Sep 25 Chile BESS Malgarida 100% 200 200 200 Private PPA Chile BESS BESS Hibridación El Romero 100% 196 196 Private PPA Total 2.067 245 763 686 1.148 170
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27 CAPEX & COMMODITY PRICE EVOLUTION z z Representative CAPEX costs in the market (€m/MW, €m/MWh for BESS) Commodity price inflation (indexed to 100) 1. Capex costs do not include development costs/fees (1) 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 0 100 200 300 400 500 600 700 0 50 100 150 200 250 300 Jan-21 Mar-21 May-21 Jul-21 Sep-21 Nov-21 Jan-22 Mar-22 May-22 Jul-22 Sep-22 Nov-22 Jan-23 Mar-23 May-23 Jul-23 Sep-23 Nov-23 Jan-24 Mar-24 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 May-26 Jul-26 Lithium Copper, Aluminium, Steel Rebar & Polysilicon Copper Aluminum Steel Rebar Polysilicon Lithium 0.55 0.60 0.62 0.50 0.46 0.48 0.49 1.09 1.20 1.35 1.35 1.37 1.39 1.39 0.80 0.90 0.95 0.89 0.92 0.95 0.96 0.28 0.25 0.14 0.14 Pre-COVID 2020 Feb 2022 Dec 2022 Dec 2023 Dec 2024 Dic 2025 Jun 2026 Solar PV Wind Solar PV - US BESS
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28 ENERGY RESOURCE IN CONTEXTP50 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 The dotted lines represent the historical cumulative deviations in renewable resource availability over the course of the year. While cumulative deviations can be substantial during the early months of the year, deviations of opposite signs across different geographies tend to balance each other as the year progresses. Consequently, year-end cumulative deviations are generally much more contained. In the current year, renewable resource conditions have been favorable, averaging above the P50 level. As the year has progressed, the average deviation has gradually moderated to 2.3%. Assuming resource availability follows the P50 profile during the second half of the year, the cumulative deviation for the full year is expected to close at approximately +1.5%. Cumulative Resource Deviation vs. P50 Throughout the Year
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29 INSTALLED CAPACITY Installed MW (30 June 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 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 8,405 Wind 5,515 5,062 73 4,517 CSP 64 64 0 48 Solar PV 4,135 3,545 295 3,650 Storage 190 190 0 190 Total 14,699 13,127 620 12,768
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30 EQUITY ACCOUNTED CAPACITY Proportional figures (30 June 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 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 620 606 12 81
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31 EQUITY ACCOUNTED CONTRIBUTION TO EBITDA 1. Share of pre-tax profit (1) (1) (1) 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 (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 accounted -9 6 -15 n.m. Others 0 0 0 Total EBITDA equity accounted -9 6 -15 n.m.
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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 Consolidated Achieved price (€/MWh) Revenues (€m) production (GWh) Market Rinv+Ro Banding Total Market Rinv+Ro Banding Total 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 Wholesale - unhedged 1,119 47.0 47.0 53 53 Total - Generation 4,040 50.6 10.7 -2.0 59.3 204 43 -8 239 H1 2025 Regulated 1,051 66.6 15.7 44.1 126.3 70 16 46 133 Wholesale - hedged 2,534 63.3 63.3 160 160 Wholesale - unhedged 843 77.2 77.2 65 65 Total - Generation 4,428 66.7 3.7 10.5 80.9 295 16 46 358 Chg. (%) Regulated -14.4% -31.4% -41.2% Wholesale - hedged -20.3% -14.9% -32.1% Wholesale - unhedged 32.8% -39.1% -19.2% Total - Generation -8.8% -26.7% -33.2%
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WIND – DRIVERS BY COUNTRY 33 1. Prices and load factors for consolidated MWs do not include previous years’ regularizations 2. 1,211 MW located in the US, including solar PV and wind assets, additionally receive a “normalized” PTC of $31.5/MWh, not included in the reported figure (2) 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 prices (€/MWh) and Load factors (%) (1) 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% Spain - Not regulated 52.6 63.0 -16.5% Canada 32.8 27.8% 38.8 24.6% -15.5% USA 23.8 26.5% 23.3 27.9% 2.3% India 37.4 22.3% 44.9 25.8% -16.7% Mexico 72.2 41.8% 72.8 39.7% -0.8% Costa Rica n.a. n.a. 112.7 67.9% n.m. Australia 43.9 24.5% 44.6 24.5% -1.4% Poland 109.8 20.6% 82.4 22.1% 33.3% Croatia 120.7 25.9% 122.0 27.4% -1.0% Portugal 60.2 24.4% 71.7 25.6% -16.0% Italy 140.6 17.1% 148.3 16.5% -5.2% Chile 78.0 22.9% 53.9 27.9% 44.6% South Africa 92.0 24.9% 85.5 25% 7.7% Peru n.a. n.a. 31.1 52.0% n.m. H1 2026 H1 2025
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34 OTHER TECHNOLOGIES – DRIVERS BY COUNTRY 1. Prices and load factors for consolidated MWs and do not include previous years’ regularizations 2. 1,211 MW located in the US, including solar PV and wind assets, additionally receive a “normalized” PTC of $31.5/MWh, not included in the reported figure 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 prices (€/MWh) and Load factors (%) (1) (2) 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 140.1 80.0% 152.8 78.0% -8.3% Solar Thermoelectric USA 183.5 19.6% 194.6 16.7% -5.7% Solar PV South Africa 189.7 17.6% 171.4 21.4% 10.7% Chile 78.0 15.1% 53.9 15.7% 44.6% Ukraine 50.0 10.0% 113.8 13.4% -56.0% USA 25.2 18.4% 25.4 18.1% -0.5% Dominican Rep. 77.0 14.7% 95.8 18.5% -19.6% Australia 37.8 18.4% 17.9 20.2% 110.4% India 29.2 21.7% 26.8 21.6% 9.0% Spain 33.3 18.4% 43.1 17.3% -22.8% Portugal 19.9 18.6% 36.3 15.9% -45.1% H1 2026 H1 2025
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35 OUTSTANDING FINANCING ESG RATINGS (1) 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 SUSTAINALYTICS: “Top Rated ESG Company” global, by industry and region Sustainalytics recognizes ACCIONA Energía as one of the companies that best manages ESG risks, compared to companies in its industry and region, with an ESG Risk Rating score of 12.6 (Low Risk). 11th utility out of 637 worldwide. ECOVADIS: Platinum Distinction Ecovadis is the leading global standard for assessing sustainability across supply chains, covering environmental, labor and human rights, ethics, and sustainable procurement criteria. The company achieved a score of 88 out of 100 (+6 points versus its previous assessment), earning the Platinum distinction and ranking within the top 1% of companies in its sector . Types of Financing H1 2026 Instruments Live Instruments H1 2026 Amounts (€m) Total Amounts (€m) (#) (#) Green Finance Green UoP -- 8 -- 2,774 Green UoP+Local Impact -- 6 -- 1,979 Sustainable Finance Sustainability-Linked(SL) -- -- -- -- SL+Local Impact -- 2 -- 950 Total -- 16 -- 5,703 (1) Corporate debt. Project Finance not included ACCIONA ENERGÍA Rating Agency Rating scale Score Industry Average Industry D- a A B B Electric utilities 100 a 0 12.6 Low Risk 32.6 High risk Renewable energy D- a A+ A- Prime B Renewable energy 0 a 100 88 Platinum n.a. Electricity, gas, steam and air conditioning supply 0 a 100 84 n.a. Utilities
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36 SPAIN – MARKET OVERVIEW Pool price evolution(1) (€/MWh) Spanish production mix and hydro reserves evolution Electricity demand Commodities 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 1. Pool price Jan-Dec 2026: Actual prices until 9 of july 2025 and futures for the rest of the year (Closure date 08/07/2025). 20% 13% 6% 23% 22% 15% 1% Nuclear Combined cycle Coal Cogeneration & waste Wind Solar Hydropower Renewable thermal 2026 Renewables: 62% -19,36% 96.7 108.3 16.9 72.6 61.0 75.7 58.6 77.9 71.7 16.4 54.2 87.5 93.5 91.0 93.6 95.9 61.8 49.8 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2025 2026 Jan-Jun 25 Jan-Jun 26 118 120 117 117 118 118 119 119 120 120 121 10,000 12,000 14,000 16,000 18,000 20,000 22,000 24,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec TWh GWh 2025 2026 Jan-Jun 25 Jan-Jun 26 +1.7% 20 30 40 50 60 70 80 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep % Hydro reserves 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025 2025-2026 Average last 5 years 80 100 120 140 160 180 200 0 20 40 60 80 100 120 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Coal TTF NBP CO2 Brent BRENT ($/BARRIL) GAS TTF (€/MWh) CO2 (€/TON) NBP Coal API ARA2 ($/ton)
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37 INTERNATIONAL – MARKET OVERVIEW Power markets Exchange rates Electricity demand (GW) Commodities 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 12 1 2 2 2 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 un-2 S /MWh - A /MWh ME ICO ( e nosa) - S /MWh SA (E CO South ub) - S /MWh C I E ( olpaico) - S /MWh A S A IA ( ictoria) - A /MWh , 1, 1,1 1,2 1, 1, 1, 1, 1, 1, ul-2 ago-2 sep-2 oct-2 nov-2 dic-2 ene-2 feb-2 mar-2 abr-2 ma -2 un-2 ul-2 ago-2 sep-2 oct-2 nov-2 dic-2 ene-2 feb-2 mar-2 abr-2 ma -2 un-2 E O/ S O A E O/ A A S A IA O 1 2 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 un-2 Monthl emand (GW) E CO ( SA) ME ICO A S A IA C I E EUR/USD EUR/AUD 2024-H2 2025-H1 1.091 1.689 2025-H2 2026-H1 1.165 1.714 Chg. (%) -6% -1% EUR/USD EUR/AUD 2024-H2 2025-H1 1.179 1.791 2025-H2 2026-H1 1.142 1.651 Chg. (%) 3% 9% Average Closing
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30 J u l y 2026H 1 2 0 2 6 – 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