Number of free allocation rights needed to receive one new share: 75.
Price of the Purchase Commitment of rights assumed by ACS: 0.449 gross euros per right.

Agenda

16 January 2018: Publication, a supplement to the information document, of the number of free allocation rights required to receive a share and the final price of the Purchase Commitment.

19 January 2018: Publication of the announcement of the Second Execution in the BORME. Last day in which ACS shares are traded with the right to participate in the second execution of capital increase (last trading day).

22 January 2018: Commencement of the trading period of the free allocation rights and of the term for requesting the cash remuneration (sale of rights to ACS) by virtue of the Purchase Commitment. Date from which ACS shares are traded without the right to participate in the second execution of capital increase (ex-date)

23 January 2018: Determination date by Iberclear of the positions for the allocation of free allocation rights (record date).

30 January 2018: End of the term for requesting the cash remuneration (sale of rights to ACS) by virtue of the Purchase Commitment.
 
5 February 2018: End of the trading period for the free allocation rights. Acquisition by ACS of the free allocation rights from the shareholders who have chosen to receive cash by virtue of the Purchase Commitment.

6 February 2018: ACS waives any free allocation rights which holds the end of the trading period. End of the Second Execution.

7 February 2018: Cash payment to the shareholders who requested their remuneration in cash by virtue of the Purchase Commitment.

7 - 16 February 2018: Formalities for the registration of the Second Execution and the Listing of the new shares on the Spanish Stock Exchanges.

19 February 2018: Date scheduled for the new shares to begin trading on the Spanish Stock Exchanges*.

*Subect to the relevant authorisations being obtained.