PREAMBLE

In compliance with the provisions of article 512 of Legislative Royal Decree 1/2010 of July 2^nd 2010, which approves the revised text of the Act on Corporations, the Annual Meeting of Stockholders of ACCIONA, S.A. has approved these Regulations, which systematize and implement the rules of operation of this body.

TITLE I: SHAREHOLDERS´ MEETING REGULATION

Article 1. Objective

1. The objective of this Regulation (the "Regulation") is to establish:
   • The rules governing the constitution and functioning of the General Meeting as a body  of the company ACCIONA, S.A. ("ACCIONA" or the "Company");
   • The rules governing the exercise of shareholders' political rights, including the rights to  be informed and to attend, intervene and vote and their other legal rights in relation to  the General Meeting.
2. The Regulation's mission is to achieve the effective participation of as many shareholders as  possible in the General Meeting by providing the necessary information and an adequate  structure for the transaction of business. If ACCIONA decides at any time to pay a bonus for  attending the General Meeting, it must first establish a stable general policy.
3. By adopting the Regulation, the Company:
   • Complies with the duty imposed by the Capital Companies Act and related provisions  of current law;
   • Incorporates and elaborates upon the legal mandates on corporate governance to which  Acciona is subject as a listed company; and,
   • Assumes the principles and recommendations on corporate governance, as adapted to Acciona's ownership structure.

* These documents were originally prepared in Spanish. The English translations are published here for information purposes only. In case of discrepancies between the Spanish original and the English translation, the Spanish version shall prevail.