Jon Lezamiz Global Public Affairs Director

GAMESA. Wind Energy Value chain within

Basque Companies.

G a m e s a

SO U T H AF R IC A A t r u s t f u l p a r t n e r f o r y o u r w i n d p r o j e c t s

Johannesburg, 25th May 2016

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Wind Energy in the Basque Country

With 0,66% of the total wind installed capacity in Spain, the Basque Country has developed a sound and world wide leader value chain capable of designing&manufacturing 95% of the WTG

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Wind Energy supply chain

Three business units strongly positioned in the market

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Gamesa within the Basque Wind Energy supply chain

Sierra del Perdón Wind Farm (Navarra) GAMESA- Spanish oldest Wind Farm (1993). 30MW

GAMESA has installed 70% of the Wind Capacity in the basque country, 53% in Spain, and is the 4th largest wind turbine manufacturer (onshore) worldwide

Sierra de Elgea Wind Farm (Alaba-Gipuzkoa) GAMESA- Basque oldest Wind Farm (1999). 27MW

GAMESA was established in 1976, and in 1994 it started its activity in the wind sector

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Gamesa at a glance Ac t i v i t y

Wind turbine manufacturing

Wind farm development Comprehensive range

of after-installation O&M services.

21 GW1 under maintenance for more than 400 clients.

O&M

Largest product portfolio with 4 competitive platforms.

34.6 GW1 of accumulated installed capacity.

7.5 GW1 of developed accumulated capacity.

Pipeline of 12,5 GW in 16 countries.

As of 4Q2015. As of 4Q2015. 1 2

Three business units strongly positioned in the market

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I n v e s t m e n t s t r u c t u r e

2014 2015

Turnover 2,846 M € 3,504 M €

EBIT 191 M € 294 M €

Margin 6.7% 8.4%

York European Opportunities 1.05%

Fidelity International Ltd. 1.10%

Norges Bank. 3.02%

Iberdrola 19.68%

Otros 75.15%

K e y f i g u r e s

Key f igures Wor l dw ide p l aye r, s t rong f i n anc i a l s

Strong results and geographically diversified investment basis

*As of 23h February 2016

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Value chain The on l y manu fac tu re r w i t h a w ide expe r i en ce

Soluciones en toda la cadena de valor en beneficio del mejor CoE Optimized solutions for each project and in all markets…

Our wide experience in the whole value chain allow us to lead and advise our clients along the different phases of their wind projects:

Soluciones en toda la cadena de valor en beneficio del mejor CoE …which has been supportive for our supply chain to follow the path.

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Efficient manufacturing P roduc t i on cen te r s i n t he ma in w ind ma rke t s

Customer proximity, full process control and delivery optimization

Technical presence close to the customer.

Make-or-buy strategy for wind turbine critical components.

Capacity to adapt to local content requirements. Gamesa has successfully apply this strategy in emerging market such as China, India and Brazil.

Manufacturing plants: 22 Commercial offices in 23 countries

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Outstanding operational performance Benchmark g l oba l s upp l i e r

Excellent worldwide recognition of our products and services

NORTH AMERICA 4,355 MW installed 1,568 MW maintained

LATAM + BRASIL 4,160 MW installed 3,295 MW maintained

EMEA 19,184 MW installed 13,035 MW maintained

INDIA 2,616 MW installed 2,195 MW maintained

CHINA + APAC 4,298 MW installed 877 MW maintained

Figures as of 4Q2015.

3,376 MW installed in 2015.

34.6 GW of capacity installed worldwide.

21 GW in O&M.

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Tier 1 partner for your wind projects

34,6 GW installed worldwide showing our clients’ trust in Gamesa’s products. Gamesa is the world's 4th largest supplier with an accumulated market share of 8.5%1.

10 of the 15 largest developers by cumulated installed capacity are Gamesa’s clients because they perceive the agreements achieved to have value.

Our geographic diversification allows us to growth in mature markets and be leader in emerging ones:

BTM WMU 2015 1

Gamesa

#1 TUNISIA

EGYPT

INDIA

CHINA*

MEXICO

BRAZIL

Gamesa A t r u s t fu l pa r t ne r fo r you r w ind p ro j e c t s

*First international OEM

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Gamesa is present in Africa since the 90s in 7 markets.

Biggest OEM in the continent in installed MW.

Variety of customers: public tenders with public entities, self consumption projects and private IPPs.

80% of the projects have been built under EPC structure.

in the

African market

Strong position in the African continent

Gamesa B igges t OEM i n A f r i c a

#1

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Installed: 237.9 O&M: 237.9

MOROCCO MW

* Datos a 10.02.2014 Proven performance in diverse markets

Installed: 606.3 O&M: 200 Construction: 220

EGYPT MW

Installed: 13.6 O&M: 0

KENYA MW

Installed: 9.35 O&M: 9.35 Construction: xxxx

MAURITIUS MW

Installed: 30 O&M: 30

MAURITANIA MW

Installed: 10.2 O&M: 0

ALGERIA MW

Installed: 242.36 O&M: 190

TUNISIA MW

Gamesa Leade r i n many A f r i c an marke t s

TOTAL installed:

1,150 MW

Figures as of 31st Dec. 2015.

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* Datos a 10.02.2014 A sound and trustful local partner

TSIBA: Gamesa´s local partner in SA Loca l pa r t ne r i n SA (BBBEE )

T S I B A i s a u n i q u e , p r i v a t e a n d n o t -f o r - p r o f i t u n d e r g r a d u a t e b u s i n e s s s c h o o l t h a t p r o v i d e s f e e a c c e s s t o a w o r l d -c l a s s b u s i n e s s e d u c a t i o n ) w h i c h w a s f o u n d e d t o o v e r p a s s t h i s c h a l l e n g e

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TSIBA: Gamesa´s local partner in SA Loca l pa r t ne r i n SA (BBBEE )

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South African as key market to remain leader in Africa

Gamesa Sou th A f r i c a – s t ra t eg i c ma rke t fo r Gamesa . Wha t do we b r i ng?

Market: SAR as the fastest growing market in the continent.

Objective: Round 5 and subsequent

Value: Capitalize on our experience on other markets in the continent regarding local content on supplies and services, and a sound supply chain involved in the whole value chain for more than 34GWs installed in more than 50 countries.

Presence: Commercial presence in South Africa since Round 1.

Product: New platform better adapted to the South African market requirements that allows us to be competitive for market requirements (3,3MW-132m class IIA).

Our goal is to be competitive on a challenging market such as South Africa with an adapted new platform capitalizing the lessons learnt on other countries in the region, with a

sound and competitive supply chain present in the whole value chain, with a sound local partner like TSIBA, benefitting from local suppliers´capabilities to the most promising

market in Africa.

Jon Lezamiz Global Public Affairs Director

Thank you!

G a m e s a

SO U T H AF R IC A A t r u s t f u l p a r t n e r f o r y o u r w i n d p r o j e c t s

Johannesburg, 25th May 2016