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MAYORAL OWNERS BET ON AUDAX RENOVABLES

The investment exceeds 56 million euros and represents the taking of a 5.8% stake

The owners of the children’s fashion firm Mayoral, through the family’s business holding company, have acquired 5.8% of Audax Renovables for an amount that exceeds 56 million euros at € 2.20/share.

The operation carried out through Global Portfolio Investments, SL, a subsidiary of Indumenta Pueri, SL, head of the family’s business holding, is part of the investments that the Mayoral group is carrying out, following its exit from MásMóvil and Duro Felguera, in recent months.

The purchase of shares has taken place through the sale by Eléctrica Nuriel, SLU, a company controlled by José Elías, President and main shareholder of Audax Renovables. In this way, José
Elías consolidates his commitment to dilute his stake in Audax, keeping control of around 70% of the shareholding.

Mayoral, with several investments in its group, is now betting on other sectors such as renewable energies, a sector on the rise and with strong expectations and a long history in the stock market both in the short, medium and long term and which is not new for Mayoral, who has been committed for years to renewable energy and caring for the environment as explained in its
annual reports.

On the other hand, Mayoral, in this operation, assumes the existing lock-up commitment that José Elías maintains through Eléctrica Nuriel, as a result of the recent operation of issuing bonds
eventually convertible into shares for an amount of 125 million euros that Audax carried out at the end of last November. This successful operation was placed 100% with international investors
and with an excess demand that exceeded 2.4 times the offer.

Audax Renovables, which in recent months has made a strong commitment to the generation of renewable energy, particularly photovoltaic, in Spain, Portugal and Italy, together with its current
portfolio of projects, is once again expanding its base of prestigious investors with this operation carried out by the Mayoral Group. It is also seeking to improve the stock’s liquidity and taking a very significant step towards consolidating its position in the market as the leading independent energy group in the SME segment with the capacity to lead the energy transition in Europe.

About Audax Renovables

The Group is the result of a merger by absorption between Audax Renovables, S.A. and its parent company, Audax Energía, S.A., which gave rise to an energy group whose business involves
generating 100% renewable energy as well as supplying 100% renewable electricity and gas.

Founded in the year 2000, in 2003 Audax Renovables became listed on the secondary market of the Barcelona Stock Exchange, and in 2007 its shares were included in the SIBE (integrated stock
exchange system) of the Madrid Stock Exchange. Currently, it is listed on the Spanish Continuous Market under the ticker ADX.MC, and has been incorporated to the IBEX SMALL CAP® index since 23 March 2020.

As a leading utility Group in the SME segment in Spain, Audax Renovables guarantees efficient supply of energy retailed through a process of vertical integration with the renewable energy generation branch, has a robust financial position and is ready to be at the forefront of the energy transition in the European market.

The Group runs a portfolio of operating wind farms of 91 MW in Spain, France and Poland. Moreover, it has a portfolio of photovoltaic projects of 320 MW in Spain, 15 MW of which will be put into operation in the next weeks, and another 40 MW are currently under construction. Likewise, the Group has a wind project under construction in Panama, of 66 MW.

Audax Renovables, operating as a 100% renewable energy and gas supplier, is present in Spain, Portugal, Italy, Germany, Poland, the Netherlands and Hungary, with over 515 thousand customers and 15 TWh supplied in 2020.

For more information visit www.audaxrenovables.com / www.audaxenergia.com

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