Acciona, S.A. (BME:ANA), BESTINVER S.A.and AXA Investment Managers - Real Assets entered into an agreement to acquire 33.33% stake in ACCIONA Energia Internacional, S.A., from KKR & Co. Inc., for approximately €450 million on April 10, 2020. The transaction price is subject to eventual adjustments. As per this agreement, Acciona, S.A., will acquire an additional 8% stake, BESTINVER S.A., a subsidiary of Acciona, S.A will acquire 5% stake in Acciona Energia Internacional, S.A. increasing its shareholding up to 80%, whereas AXA Investment Managers - Real Assets will acquire the other 20% stake. Acciona, S.A., has the intention to hold a 75% stake in ACCIONA Energia Internacional, S.A., so that the subsidiary becomes part of its Spanish Tax Consolidation Group, and will look for potential investors to acquire the additional 5% stake before closing. The transaction, which is subject to the fulfillment of conditions precedent including customary regulatory approvals, is expected to be closed in December 2020 and payment by Acciona, S.A., shall take place in January 2021. Victor Manchado, Jaime Perez Bustamante, Fredrik Lowhagen and Borja Fernandez de Troconiz of Linklaters, S.L.P. acted as legal advisors to Acciona, S.A. Javier Amantegui, Martín Jorge, Rodrigo Uría, Nadia Kalic, Umberto Penco Salvi, Grzegorz Abram Umberto, Thais Garcia, Marta Martínez and Alberto Varela-Grandal of Clifford Chance S.L.P. acted as legal advisors to KKR & Co. Inc. CMS Albiñana & Suárez de Lezo, CMS Cameron McKenna Nabarro Olswang LLP, CMS DeBacker, CMS Francis Lefebvre Avocats, CMS Luxembourg, CMS RM Partners and CMS Woodhouse Lorente Ludlow acted as legal advisors for ACCIONA Energia Internacional. Alvaro Membrillera of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal Advisor to KKR & Co. Inc. (NYSE:KKR). Real Assets Advisers led the successful transaction structuring and negotiation of the transaction. Kristy Duane, Piotr Ciolkowski and Michal Andruszkiewicz of CMS Cameron McKenna Nabarro Olswang LLP advised ACCIONA Energia Internacional. Credit Suisse Group AG and Lazard Asesores Financieros S.A. acted as financial advisor to KKR & Co. Inc. Inigo del Val and Adolfo Zunzunegui from Spain, David Lee from London and Peter Myners from Luxembourg office of Allen & Overy acted as legal advisors to AXA Investment Managers - Real Assets.

Acciona, S.A. (BME:ANA), BESTINVER S.A.and AXA Investment Managers - Real Assets completed the acquisition of 33.33% stake in ACCIONA Energia Internacional, S.A., from KKR & Co. Inc. on December 29, 2020.