P.O. Box 71170

1008 BD AMSTERDAM

Parnassusweg 300

1081 LC AMSTERDAM

The Netherlands

To:

The Opinion Party

INTRODUCTION

DEFINITIONS

Capitalised terms used but not defined herein are used as defined in the Schedules to this opinion letter.

In this opinion letter:

SCOPE OF INQUIRY

For the purpose of rendering this opinion letter, we have only examined and relied upon electronically transmitted copies of the documents listed in Schedule 1 (Reviewed documents).

We have further relied on the statements made in the Secretary Certificate and we have assumed without independent investigation that such statements are correct as of the date of this opinion letter.

We have not reviewed and express no opinion on any document incorporated by reference or referred to in the documents listed in Schedule 1 (Reviewed documents).

We have undertaken the following checks (the Checks) at the date of this opinion letter:

an inquiry at the Trade Register, confirming that no relevant changes were registered compared to the contents of the Current Excerpt;

an inquiry at the Central Insolvency Register (Centraal Insolventieregister) confirming that the Opinion Party is not listed with the Central Insolvency Register and not listed on the EU Registrations list with the Central Insolvency Register; and

an inquiry at EUR-Lex relating to the list referred to in article 2 (3) of Council regulation (EC) No 2580/2001, Annex I of Council regulation (EC) No 881/2002 and the Annex to Council Common Position 2001/931 relating to measures to combat terrorism, confirming that the Opinion Party is not listed on such annexes.

NATURE OF OPINION

We only express an opinion on matters of Dutch law and the law of the European Union, to the extent directly applicable in the Netherlands, in force on the date of this opinion letter, excluding unpublished case law, all as interpreted by Dutch courts and the European Court of Justice. We do not express an opinion on tax law, competition law, sanction laws, equal treatment of shareholders and financial assistance. The terms “the Netherlands” and “Dutch” in this opinion letter refer solely to the European part of the Kingdom of the Netherlands.

Our opinion is strictly limited to the matters stated herein. We do not express any opinion on matters of fact, on the commercial and other non-legal aspects of the transactions contemplated by the Registration Statement and on any representations, warranties or other information included in any document examined in connection with this opinion letter, except as expressly stated in this opinion letter.

In this opinion letter Dutch legal concepts are sometimes expressed in English terms and not in their original Dutch terms. The concepts concerned may not be identical to the concepts described by the same English term as they exist under the laws of other jurisdictions. For the purpose of tax law a term may have a different meaning than for the purpose of other areas of Dutch law.

This opinion letter may only be relied upon under the express condition that any issue of interpretation or liability arising hereunder will be governed by Dutch law and be brought exclusively before the competent court in Rotterdam, the Netherlands.

This opinion letter is issued by Loyens & Loeff N.V. and may only be relied upon under the express condition that any liability of Loyens & Loeff N.V. is limited to the amount paid out under its professional liability insurance policies. Individuals or legal entities that are involved in the services provided by or on behalf of Loyens & Loeff N.V. cannot be held liable in any manner whatsoever.

OPINIONS

Corporate status

Issued share capital

ADDRESSEES

This opinion letter is an exhibit to the Registration Statement and may be relied upon solely for the purpose of the registration of the Registration Statement in accordance with the Securities Act. It may not be supplied, and its contents or existence may not be disclosed, to any person other than as an exhibit to (and therefore together with) the Registration Statement and may not be relied upon for any purpose other than the registration with the SEC.

We consent to the filing of this opinion letter with the SEC as an exhibit to the Registration Statement and to the reference to Loyens & Loeff N.V. in the Registration Statement under the heading ‘Legal Matters’. In giving this consent, we do not admit that we are a person whose consent is required under the Securities Act or any rules and regulations promulgated by the SEC.

ORGANISATIONAL DOCUMENTS

Excerpts

An excerpt of the registration of the Opinion Party in the Trade Register dated 29 September 2021 (the Former Excerpt).

An excerpt of the registration of the Opinion Party in the Trade Register dated 2 September 2024 (the Current Excerpt).

Constitutional documents

The deed of incorporation of the Opinion Party dated 7 June 2021.

The articles of association of the Opinion Party dated 1 October 2021.

Resolutions

The secretary certificate (the Secretary Certificate) dated 5 August 2024 signed by Juan Sagalés Cantenys in his stated capacity as the Company Secretary of the Opinion Party including minutes of a meeting of the board of directors of the Opinion Party held on 24 July 2024 relating to the Issuance (the Board Resolution).

The resolution of the general meeting of the Opinion Party in connection with, inter alia, the delegation to the management board of the Opinion Party of the authority to issue shares in the capital of the Opinion Party for a period of 5 years, dated 1 October 2021 (the Shareholders Resolution).

Power of attorney

Shareholders’ register

MISCELLANEOUS

Deed of Issuance

Subscription Agreements

The New York law subscription agreement between the Opinion Party and Enric Asunción Escorsa dated 30 July 2024.

The New York law subscription agreement between the Opinion Party and Generac Power Systems, Inc. dated 30 July 2024.

The New York law subscription agreement between the Opinion Party and Consilium, S.L. dated 30 July 2024.

The New York law subscription agreement between the Opinion Party and A.M. Gestió, S.L. dated 30 July 2024.

The New York law subscription agreement between the Opinion Party and Orilla Asset Management, S.L. dated 30 July 2024.

Registration Statement

Documents

All original documents are authentic, all signatures (whether handwritten or electronic) are genuine and were inserted or agreed to be inserted by the relevant individual, and all copies are complete and conform to the originals.

The information recorded in the Current Excerpt is true, accurate and complete on the Relevant Date, save for the information in respect of the issued and paid up share capital of the Opinion Party which has not yet been reflected in the Current Excerpt (although not constituting conclusive evidence thereof, this assumption is supported by the Checks).

The information recorded in the Former Excerpt was true, accurate and complete on the date of the Shareholders’ Resolution.

The information recorded in the Shareholders’ Register is true, accurate and complete on the date of this opinion letter.

The Registration Statement will have been filed with the SEC and declared effective pursuant to the Securities Act at the applicable Relevant Date.

Incorporation, existence and corporate power

The Opinion Party has not been dissolved, merged involving the Opinion Party as disappearing entity, demerged, converted, granted a suspension of payments, declared bankrupt or subjected to any other insolvency proceedings listed in Annex A of Regulation (EU) 2015/848 on insolvency proceedings (recast), listed on the list referred to in article 2 (3) of Council Regulation (EC) 2580/2001, listed in Annex I to Council Regulation (EC) 881/2002 or listed and marked with an asterisk in the Annex to Council Common Position 2001/931 relating to measures to combat terrorism (although not constituting conclusive evidence thereof, this assumption is supported by the contents of the Current Excerpt and the Checks).

The Articles are the articles of association (statuten) of the Opinion Party in force on each Relevant Date (although not constituting conclusive evidence thereof, this assumption is supported by the contents of its Current Excerpt).

The articles of association as included in the Deed of Incorporation were the articles of association (statuten) of the Opinion Party in force on the date of the Shareholders’ Resolution (although not constituting conclusive evidence thereof, this assumption is supported by the contents of the Former Excerpt).

Corporate authorisations

The Resolutions (other than the Shareholders’ Resolution) (a) correctly reflect the resolutions made by the relevant corporate body of the Opinion Party, (b) have been made with due observance of the Articles and any applicable board regulations and (c) are in full force and effect.

The Shareholders’ Resolution (a) correctly reflects the resolutions made by the relevant corporate body of the Opinion Party, (b) has been made with due observance of the articles of association as included in the Deed of Incorporation and any applicable board regulations and (c) is in full force and effect.

No member of the management board of the Opinion Party (other than Mr. F. J. Riberas Mera, Mr. E. Asunción Escorsa and Mr. Paolo Campinoti) has a direct or indirect personal interest which conflicts with the interest of the Opinion Party or its business in respect of the transactions contemplated by the Subscription Agreements (although not constituting conclusive evidence thereof, this assumption is supported by the contents of its Board Resolution).

The Opinion Party has not established, not been requested to establish, nor is in the process of establishing any works council (ondernemingsraad) and there is no works council, which has jurisdiction over the Issuance.

Other parties

Each of the parties to which the PIPE Shares have been issued is validly existing under the laws by which it is purported to be governed on the date of the Deed of Issuance.

Each of the parties to which the PIPE Shares have been issued has all requisite power and capacity (corporate and otherwise) to execute, and to perform its obligations under the Deed of Issuance and the Deed of Issuance has been duly authorised, executed and delivered by or on behalf of each of the parties to which the PIPE Shares have been issued.

Execution

The Power of Attorney has not been terminated, revoked or declared null and void.

The authority of the attorney (gevolmachtigde) to enter into the Subscription Agreements and the Deed of Issuance on behalf of the Opinion Party will not be affected by any rule of law (other than Dutch law) which under The Hague Convention on Agency 1978 applies or may be applied.

Validity

the Subscription Agreements and the Deed of Issuance constitute the legal, valid and binding obligations of the parties thereto, which are enforceable against those parties in accordance with their terms; and

the choice of law and submission to jurisdiction made in the Subscription Agreements and the Deed of Issuance are valid and binding.

Issued share capital

The PIPE Shares have not been repurchased (ingekocht), cancelled (ingetrokken), reduced (afgestempeld), split, or combined.

The authorised share capital of the Opinion Party immediately preceding the issuance of the PIPE Shares allowed for the Issuance.

The PIPE Shares have been placed (geplaatst), validly accepted by the first holders thereof, issued, delivered and subscribed (genomen) and paid for in accordance with the provisions set forth in the Articles, the Deed of Issuance and the Subscription Agreements.

Regulatory

Insolvency

Powers of attorney

Each power of attorney or mandate to which Dutch law is applicable, whether or not irrevocable, will terminate by force of law without notice, upon bankruptcy, and will cease to be effective in case of a suspension of payments or in the event of an intervention, recovery or resolution measure. To the extent that the appointment of a process agent would be deemed to constitute a power of attorney or a mandate, this qualification would apply.

A power of attorney to which Dutch law is applicable can be made irrevocable, provided that the scope of the power of attorney concerns legal acts which are in the interest of the attorney or a third party. A power of attorney does not affect the authority of the principal to perform actions within the scope of such power of attorney itself.

Accuracy of information

A shareholders’ register does not provide conclusive evidence that the facts set out therein are correct and complete. However, the management board of a Dutch private or public limited liability company is obliged to regularly update the shareholders’ register.

Non-assessable