AUDAX RENOVABLES ENTERS HUNGARIAN MARKET

Audax Renovables (ADX.MC), a Spanish company whose business is divided between the marketing of electricity and gas and the generation of renewable electricity, has signed a purchase and sale agreement for the acquisition of 100% of the share capital of E.ON Energiakereskedelmi Kft., a Hungarian company operating in the marketing of electricity. The seller is E.ON Hungária Zrt., a company belonging to the German multinational E.ON, listed on the Frankfurt Stock Exchange.

Audax Renovables will control the 25% of the Hungarian energy market for SMEs, Large Industries and Public Administrations, increasing the number of customers by approximately 80,000 units and increasing the volume of energy supplied up to 6TWh/year.

The acquisition transforms the Iberian company into a major player in the Hungarian electricity market, helping to expand and distribute the Group's geographical presence.

The transaction is subject to certain conditions precedent; furthermore, it still has to obtain the necessary approvals from the relevant European and Hungarian regulatory bodies. The completion of the procedure is expected within the third and fourth quarters of this year.

The Audax Group, therefore, continues to achieve the strategic objectives set for 2022: increase the customer portfolio from 365,000 to 500,000 units and provide 15 Twh of energy each year. Furthermore, it estimates exceeding 1,500 million euros in turnover, having an EBITDA of more than 100 million euros and reducing its financial debt in order to generate value for its shareholders by optimizing the Group's resources.