Investor Presentaiton

Sustainability Mandate of the Community of Madrid Comunidad de Madrid has an important environmental mandate. Almost 50% of the region area is protected due to its environmental protection and conservation value. The geo-economic situation in Madrid creates the need to implement policies for pollution management and waste treatment in densely populated urban areas. Guided by this purpose, the region set out its Strategy for Sustainable Waste Management for the 2017-2024 period. In relation with climate change and air quality, the Plan Azul+ 2013-2020 has been the backbone for eight years, particularly focusing in tackling pollution and promoting energy efficiency. Among the measures set out in the Plan Azul+, which is expected to be followed by a new Plan from 2021, we find the following objectives by sector, which are representative of the regions' general sustainable strategy: • . . • Transportation: Metro de Madrid is Spain's largest and Europe's third largest (third to London and Moscow) metro system with 302 stations spread over 294 Km. Comunidad de Madrid aims to modernise taxi and bus fleets with greener vehicles, improvement of bicycle infrastructure, fiscal incentives for the transition towards greener technologies in private transportation Industry: reduction of emissions from industrial activities, like NOX produced by cogeneration plants Residential/commercial/institutional: use of clean fuels for domestic heating, improvements in energy efficiency, smart grids Agriculture: sustainable management of forests, promotion and development of biomass energy 2021 - Emissions Avoided by 370,024 tCO2 Green Public R-2823 Transportation 國 Source: Comunidad de Madrid 50 50

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