Gestamp Renewables and Powergear Ltd.

to Form a Joint Venture

Pursue Wind Tower Manufacturing
Madrid, Spain. April 08, 2011 – Gestamp Renewables announced today its subsidiary
Gestamp Wind Steel has signed a joint venture agreement with Powergear Ltd.. (India) to
create a 60-40 joint venture. The joint venture will focus on producing towers for wind turbines
being constructed in the Indian market. Gestamp Powergear Wind Steel plan to start
production from a greenfield unit which will come up in the vicinity of Chennai, as the site of its
initial production facility. The joint venture expects to employ around 300 people when fully
operational.

“Powergear and Gestamp Renewables will work very well together in this joint venture,” said
Jon Riberas, President & CEO of Gestamp Renewables. “We have wind tower manufacturing
facilities in Spain, Turkey, and Brazil, and are happy to be partnering with Powergear in our first
India facility.”

Gestamp Wind Steel has developed global supply relationships with key players in the wind
turbine markets and will bring the operational experience needed for the manufacturing of the
towers. Powergerar will bring its experience in India manufacturing, purchasing, and human
resources to the venture.

The joint venture anticipates beginning shipments in the first quarter of calendar year 2012 of
80-100 foot long tower sections for wind turbines. The joint venture will generally be a
subcontractor to provide the tower structures for renewable energy companies that provide
developments of wind tower turbines. Powergear was chosen because of their proven track
records and the key customer relationship

“India is among the top 5 wind markets in the world and has a 7% market share of the whole
market. The industry in India is seeing a surge of key leading OEMs and other multi-national
companies setting up to secure the growth¨ remarked Xavier Durairaj, President & CEO of
Powergear Limited.

About Corporacion Gestamp

Gestamp Corporation is a European multinational company, focused on the steel industry,

automotive components, and renewable energy. Comprised of three large industrial divisions,
Gonvarri, Gestamp Automotive and Gestamp Renewables, the company has a strong global
presence with facilities in twenty five countries across four continents.In 2010 fiscal year the
Gestamp Corporation achieved sales of $6.8 billion and employed more than 20.000 employees
globally.

About Powergear Ltd.

Serving the power industry since 1980, POWERGEAR has achieved high performance
standards unmatched in the industry, resulting in a loyal clientele across the world. Its clientele
includes GE, Siemens, ABB, Alsthom, Areva, Iberdrola, Mitsubishi Electric Company among
others. Also, Powergear has capabilities to execute Electrical Balance of Plant projects both in
power and oil and gas industries. In appreciation of its excellent quality, on-time delivery and
EHS, GE has awarded Powergear three times.