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ACS Group and Mundys strengthen Abertis' leadership in infrastructures through new strategic collaboration agreement

27 July 2023

CET 11.32 Madrid/Rome, 27 July 2023 – Mundys and ACS Group have announced a new strategic collaboration agreement for Abertis with the main objective of strengthening its global leadership in transport infrastructure concessions. Both companies are committed to support an investment plan to expand the portfolio of assets under management and promote Abertis' growth and value creation. The agreement also includes a new governance scheme whereby both partners will be able to appoint the same number of directors to the company, as well as appoint the top executives. As a result, Mundys will continue to appoint the CEO and the Secretary of the Board, while ACS will appoint the President and the CFO. As part of the agreement, both partners have agreed to transfer a 56% ACS Group's stake in the SH288 highway in Houston to Abertis, subject to the corresponding governmental permissions. Additionally, Abertis is exploring new investment opportunities in the global markets, while maintaining an optimal capital structure in line with the requirements of credit rating agencies. These changes will not imply any modification in the consolidation method of Abertis in both groups, so that Mundys will continue to consolidate Abertis globally in its financial statements, while the ACS Group will continue to include its investment as an equity[1]accounted investment. This agreement marks a new stage in the trajectory of Abertis, which has demonstrated over time a solid and sustainable leadership in the transport infrastructure sector. Abertis is an international benchmark operator in the management of high-capacity, high[1]quality roads and intelligent mobility solutions. Committed to society and a promoter of innovative solutions that mitigate climate change and promote the circular economy, Abertis collaborates in the design and development of a more efficient, safe, and sustainable mobility. Therefore, the collaboration fostered by the new agreement will drive and accelerate growth to achieve new levels of success.