Gamesa Corporacion Tecnologica : Document deemed equivalent to an informative prospectus issued in connection with the merger by absorption between Gamesa Corporación Tecnológica, S.A. (as absorbing company) and Siemens Wind HoldCo, S.L. (as absorbed company)

The National Securities Market Commission has resolved, in relation to the merger by absorption of Siemens Wind HoldCo, S.L.1 (as absorbed entity) by Gamesa Corporación Tecnológica, S.A. (as absorbing entity), and pursuant to Section 26.1.d) of Royal Decree 1310/2005, of November 4, that the document attached hereto as Annex is equivalent to the informative prospectus otherwise required in accordance with the aforementioned Royal Decree.

In Zamudio, Bizkaia, on 11 April 2017

Carlos Rodríguez-Quiroga Menéndez Secretary of the Board of Directors

1 A subsidiary that, prior to the effectiveness of the cited merger, was wholly-owned, directly or indirectly, by Siemens Aktiengesellschaft.

IMPORTANT INFORMATION

This communication does not constitute an offer to purchase, sell or exchange or the solicitation of an offer to purchase, sell or exchange any securities. The shares of Gamesa Corporación Tecnológica, S.A. may not be offered or sold in the United States of America except pursuant to an effective registration statement under the Securities Act or pursuant to a valid exemption from registration.

2 This document has been considered by the National Securities Market Commission, in accordance with Section 26.1.d) of Royal Decree 1310/2005, of November 4, as equivalent to the informative prospectus otherwise required in accordance with the aforementioned Royal Decree.

DOCUMENT DEEMED EQUIVALENT TO AN INFORMATIVE PROSPECTUS RELATING TO THE MERGER BY ABSORPTION OF SIEMENS WIND HOLDCO, S.L. (AS ABSORBED ENTITY) BY GAMESA CORPORACIÓN TECNOLÓGICA, S.A. (AS ABSORBING ENTITY)

1. LIABLE PERSON FOR THE EQUIVALENT DOCUMENT

2. Identification of the liable person

   Ms. Rosa María García García, of legal age, with National Identification Document (D.N.I.) number 02603246-Z currently in force, in the name and on behalf of Gamesa Corporación Tecnológica, S.A. ("Gamesa"), a company domiciled in Parque Tecnológico de Bizkaia, Edificio 222, 48170 Zamudio (Bizkaia), with Tax Identification Number (N.I.F.) A01011253 and registered with the Commercial Registry of Bizkaia, at Volume 5147, Sheet 7, Page number BI-56858; in her capacity as chairwoman of the Board of Directors of Gamesa, and pursuant to the express empowerment approved by the Board of Directors of Gamesa on 4 April 2017 in order to sign this equivalent document (the "Equivalent Document"), assumes the liability for the information contained herein.

3. Declaration by the liable person

   Ms. Rosa María García García, in the name and on behalf of Gamesa, as liable person for this Equivalent Document, declares that, having taken all reasonable care to ensure that such is the case, the information contained in this Equivalent Document is, according to his knowledge, correct from a factual perspective and that there is no omission that could affect its content.

4. CONTENT OF THE EQUIVALENT DOCUMENT

5. Background

6. On 17 June 2016, Gamesa and Siemens Aktiengesellschaft ("Siemens") entered into a merger agreement (the "Merger Agreement") whereby both parties agreed on the terms and conditions pursuant to which Gamesa and the Siemens Wind Power Business (as defined therein) would be combined by way of a statutory merger by absorption (fusión por absorción) of Siemens Wind HoldCo, S.L. ("Siemens Wind HoldCo") (as absorbed entity) by and into Gamesa (as absorbing entity) (the "Merger").

   On 27 June 2016, the Board of Directors of Gamesa and the sole director of Siemens Wind HoldCo at that time drafted and approved the common terms of merger (proyecto común de fusión) for the Merger (the "Common Terms of Merger"), which were signed by the members of the Board of Directors of Gamesa (with the exceptions set out in the Common Terms of Merger) and the sole director of Siemens Wind HoldCo, in accordance with Sections 30 et seq. of Act 3/2009, of 3 April, on

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