Investor Presentation

1. CONSOLIDATED WATER
NASDAQ: CWCO

2. FORWARD-LOOKING STATEMENTS
This presentation includes statements that may constitute “forward-looking” statements,
usually containing the words “believe”, “estimate”, “project”, “intend”, “expect”, “should” or
similar expressions. These statements are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Forward-looking statements
inherently involve risks and uncertainties that could cause actual results to differ
materially from the forward-looking statements. Factors that would cause or contribute to
such differences include, but are not limited to, continued acceptance of our products and
services in the marketplace, changes in our relationships with the governments of the
jurisdictions in which we operate, the outcome of our negotiations with the Cayman
government regarding a new retail license agreement, our ability to successfully secure
contracts for water projects, including the project under development in Rosarito Mexico,
our ability to develop and operate such projects profitably and other risks detailed in our
periodic report filings with the Securities and Exchange Commission.
By making these forward-looking statements, the Company undertakes no obligation to
update these statements for revisions or changes after the date of this presentation.
2

3. OUR BUSINESS
Consolidated Water provides innovative
solutions to the world's water related
issues
We design, build, finance and operate seawater
desalination plants and water distribution systems
that provide potable water in locations where
naturally-occurring freshwater supplies are limited
or non-existent.
3

4.  Positive long term trends in water
 Proven operating expertise
 Long term contracts provide recurring revenue and good visibility
 Organic expansion opportunities
‒ Rosarito
 Industry consolidation and diversification opportunities via acquisitions
‒ Aerex Industries
 Strong balance sheet supports our ability to invest
 Rosarito investment masks strong core business performance
INVESTMENT HIGHLIGHTS
4

5.  GWI estimates the total water market in 2014 was ~$589B (municipal
and industrial water), with compound annual growth of ~4% expected
over the next several years (reaching nearly $700B in 2018)
 Under an average economic growth scenario (and assuming no
efficiency gains), global supply of water will face an estimated 40%
demand gap by 2030, with 1/3 of the earth’s population living in
areas with water deficits in excess of 50%
 The global desalination market will grow at a compounded annual
rate of ~8.1% between 2014 and 2021 (exceeding 2007 peak for new
capacity additions in 2021). More recently, GWI estimated
incremental new capacity of ~17B GPD to be awarded over the next
~10 years
 We note an estimated ~29% of current* capacity from medium-scale
plants generating ~$6B in annual sales
POSITIVE LONG TERM
TRENDS IN WATER
*As of October 31, 2016
Source: GWI
5

6.  40 years of operating experience
 Dominant presence in the Caribbean markets
 Ability to provide “Turn Key” customer solutions
 Highly energy-efficient plants
 Easily incorporates renewable energy sources
 Bottled water quality
CONSOLIDATED WATER’S
OPERATING EXPERTISE
6

7. CONSOLIDATED WATER’S FOOTPRINT
* Production capacity is in millions of U.S. gallons per day
Cayman Islands
6 Plants
Capacity: 9.0M gallons/day
The Bahamas
3 Plants
Capacity: 15.2M gallons/day
The British Virgin Islands
2 Plants
Capacity: 0.8M gallons/day
Mexico (under development)
1 Plant
Capacity: 50.0M + 50.0M gallons/day
CWCO
Office
Belize
1 Plant
Capacity: 0.6M gallons/day
Aerex
Industries
7

8. Contract* Plant Capacity (US gallons/day) Contract End Date
Blue Hill I & II, The Bahamas 12,000,000 March 2032
Windsor, The Bahamas 2,600,000 December 2031
Bar Bay, British Virgin Islands 720,000 March 2031
Ambergris Caye, Belize 600,000 March 2026
Frank Sound, Cayman Islands 2,400,000 June 2019
LONG TERM CONTRACTS PROVIDE
VISIBILITY AND RECURRING REVENUE
8
*This list includes select long term contracts

9. ORGANIC EXPANSION OPPORTUNITIES
ROSARITO PROJECT
 100 MGD Seawater desalination
plant in two phases of 50 MGD
 Opportunity for water export to US
markets
 Financing by third party non-recourse
debt and equity
 CWCO will own equity position in
plant and CWCO/Suez JV will have
40-year O&M contract
 Water will be sold under long term
contract
9

10. UNDERVALUED ASSET - ROSARITO$Millions
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
45.0
2012 2013 2014 2015 2016 YTD 2017
Rosarito Investment
Assets G&A
10

11. ROSARITO PROJECT – NEXT STEPS
 State water agency to establish and register various payment trusts, guaranties
and bank credit lines
 State water agency must obtain seawater allocation permit the relevant federal
authority
 Water purchase and sale agreements between the payment trusts and the State
water agencies must be executed
 Acquire rights of ways for the aqueduct
 Federal residual water discharge permit
 Execute debt and equity agreements
11

12. ACQUISITION STRATEGY
 Acquire existing water treatment-related businesses, as we have done in the
past through nine successful transactions.
o Primary focus: targets that operate advanced water treatment plants for governments
or governmental agencies under medium to long term contracts.
o Secondary focus: manufacturing and technology companies, similar to Aerex
Industries, that provide a competitive edge to obtain new contracts and/or access to
new markets.
12

13. CONSOLIDATION AND DIVERSIFICATION
OPPORTUNITIES VIA ACQUISITIONS
AEREX INDUSTRIES
 Acquired 51% interest in Aerex Industries in February 2016
 OEM and service provider for municipal water treatment and industrial water and
wastewater treatment
 Aerex provides a platform to penetrate the lucrative US water/wastewater O&M
market
13

14. STRONG BALANCE SHEET SUPPORTS
GROWTH OPPORTUNITIES AND
DIVIDEND
As of June 30, 2017
0.4
45.9
146.9
165.8 Total Debt
Cash and Cash Equivalents
Stockholders' Equity
Total Assets
Book Value/Share – $9.87
Cash/Share – $3.09
TTM Dividend – $0.30
$Millions
14

15. FINANCIAL PERFORMANCE
First Half 2017 First Half 2016
31.0 29.4
13.4 13.0
4.4 4.4
Revenues
Gross Profit
Net Income from
Continuing Operations
$Millions
15

16. ROSARITO INVESTMENT MASKS STRONG
CORE BUSINESS PERFORMANCE
First Half 2017 First Half 2016
31.0 29.4
13.4 13.0
6.0 6.0
Revenues
Gross Profit
Net Income from
Continuing Operations
without Rosarito Spend
$Millions
16

17.  Positive long term trends in water
 Proven operating expertise
 Long term contracts provide recurring revenue and good visibility
 Organic expansion opportunities
‒ Rosarito
 Industry consolidation and diversification opportunities via acquisitions
‒ Aerex Industries
 Strong balance sheet supports our ability to invest
 Rosarito investment masks strong core business performance
INVESTMENT HIGHLIGHTS
17