Annual Report of Abengoa Water in 2013. In the company we are committed to reporting our activities in a clear and transparent way.

2. Table of Contents
01
Page 06
02
Page 08
03
Page 12
2011
2012
2013
37,2
11,7
9,7
Chairman´s Letter
Company Profile
Key Figures
Projects
04
Page 14
05 Milestones in 2013
Page 18
4 / 2013 Annual Report ABENGOA WATER ABENGOA WATER 5 / 2013 Annual Report

3. Abengoa Water believes in
investment in technology as a driver
for growth. This year our R&D
program made great strides. Most
notable were the lauch of our ZELDA
project for sustainable desalination,
the Value From Urine project
developed in collaboration with the
European Union, and the closing of
our TEcoAgua project with the
Spanish Ministry of Innovation.
01 | Chairman’s Letter
“ The year
Attribute all of our successes this
year, as every year, the commitment
of our staff. Our team excels in the
water market because we have a
deep understanding of the technical
and financial aspects of our field. Not
only are we a team with decades of
combined experience in the field, we
are also globally minded and
understand that while water issues
are global, the solutions are local and
must be adapted to each region.
After watching this sector evolve over
the past 20 years I believe that we are
in a very exciting moment. The
advances being made in water
treatment technology and financial
backing are tremendous and continue
to open up markets in new regions
and markets all the time. The work
that we are doing at Abengoa Water
will alleviate one of the greatest
challenges our generation faces,
water scarcity and water pollution
through the creation of new water
sources as well as the treatment and s
ubsequent reuse of polluted water.
I am proud of the work we did last
year and look forward to great things
to come in 2014.
I am pleased to share our 2013
Annual Report, which is highlighted
by significant progress in Abengoa
Water’s strategic plan. The year
started strong as we were awarded
the Desalination Company of the Year
award at the 2013 Global Water
Awards which were held in our own
backyard in Seville, Spain.
We saw a 25.5 % growth of our
consolidated EBITDA over last year, as
well as a 21.4 % increase in sales. In
terms of production, 2013 was a
record year with a total production of
102.2 million cubic meters and an
installed capacity of 615,000 cubic
meters per day. It is also notable that
our Skikda plant achieved 100% of its
production capacity.
We continue to expand as a global
company through the work we’ve
done this year. Our groundbreaking
desalination plant in Qingdao, China
was commissioned in January, and
entered into production.
Additionally, we continue to reinforce
and expand our presence in China
through the acquisition of a
Beijing-based water treatment
technology company.
In Africa, the construction of our
Accra desalination plant continues on
schedule and is expected to be
commissioned by the end of 2014.
We were also awarded our fourth
desalination plant in Northern Africa,
a desalination plant in Agadir,
Morocco.
Additionally, we continue to expand
in the Latin American market through
a desalination project for industrial
water production in Northern Chile. In
the United States we are developing a
strong pipeline of projects thanks to
the company’s investment in the
region. This year we were selected as
the final candidate for a project that
would supply and treat groundwater
in Texas.
After
watching
this sector evolve
over the past 20
years I believe that
we are in a very
exciting moment
started
“
strong as we were
awarded the
Desalination
Company of the
Year award at the
2013 Global Water
Awards
”
Carlos Cosín Fernández
CEO & Chairman
Abengoa Water
”
7 / 6 / 2013 Annual Report ABENGOA WATER ABENGOA WATER 2013 Annual Report

4. Development
Finance
Design - Build
Procurement
Construction
O&M
Technical Consulting
R&D
02 | Company Profile
The increasing demand for high quality water coupled with the effects of climate change has resulted a global water scarcity
crisis. We commit to use our human and financial capital to create sustainable, technology-driven solutions to the water
scarcity crisis and improve living conditions for humans
Abengoa Water is technology-driven water company that provides integrated solutions for municipal and industrial clients.
·Design, built, operation and finance of water treatment plants
·Turn key solutions
·Operation and maintenance
·Process technology
·Water infrastructure services
Our markets and solutions:
Municipal Water
Desalination Water treatment Wastewater
treatment
Reuse
We develop projects through
combining our capacity for project
finance, design, build, R&D, and
operation & maintenance.
Additionally, we offer high value
services such as technical consulting,
delegated management projects, and
the management of water basins
through our innovative technological
capability.
Abengoa Water in the world
Industrial Water
Energy Refining Mining Oil & Gas
Abengoa Water has a extensive international presence. Our team is made up of highly experienced, local teams build by local
personnel. We currently operate in the countries displayed in the following map:
2%
0,5% Office
Project
Staff
distribution
21%
1%
58%
0,5%
8%
9%
%
9 / 8 / 2013 Annual Report ABENGOA WATER ABENGOA WATER 2013 Annual Report

5. Technology and innovation
Abengoa Water invests in R&D and aims to improve the
performance of existing products in the water market and
the develop of completely new technologies that solve
problems in the water market.
In additon to our offices and projects Abengoa Water also
operates an R&D center located in Seville, Spain, which
provides us with a competitive advantage. The center
consists of over 3,000 square meters dedicated to pilot
plants, laboratories, workshops, a state of the art control
room, showroom, and a capacity for over 70 researchers.
In 2013 we invested 4.7 million euro in R&D for research
and the development of in-house technology which provide
our plants and processes with the lastest technology.
Audit
In adherance with our committment to transparency and
rigor, the Abengoa Water Annual Report is supported by
four independently verified reports in the following areas:
·Annual Economic Data Report
·Internal SOX (Sarbanes Oxley) report
·Corporate Social Responsibility Report
·The design and application of the company’s Risk
Management System that complies with the ISO 31000
regulation
CSR
Corporate Social Responsiblity (CSR) is a key factor in the
development of Abengoa Water and is one of the
fundamental pillars of the company’s strategy.
All our business activity is aligned with our CSR policy. From
the implementation of policies, our business model and
behavior, to our management systems, it is taken into
account in all dimensions of the company.
Additional, in 2013 we renewed the Integrated Certification
of Quality Control, Environment, and Prevention (ISO 9001,
ISO 14001 y OSHAS 18001) as well as the verification of
emissions through GEI.
Recognitions
Desalination Company of
the Year 2012
2012
2011
Desalination Deal of the
Year 2010. Qingdao
(China)
Honorable Mention Water
Company of the Year
2011
2010
2009
Desalination Plant of the
Year 2007. Cartagena
phase I & II (Spain)
Desalination Company of
the Year 2009
2008
International Developer of
Hydraulic Infrastructures;
Desalination Deal of the Year
2006. Beni Saf (Algeria)
2007
4.7
million euro
in
R&D
11 / 10 / 2013 Annual Report ABENGOA WATER ABENGOA WATER 2013 Annual Report

6. Revenue (millions EUR)
45.0
03 | Key Figures
72
50.6
2011 2012 2013
EBITDA* (millions EUR)
2011
2012
2013
37.2
11.7
9.7
Revenue by geographical
area (millions EUR)
EMEA* 25.3
Rest of
countries
0.2
Spain 20
Asia 26.5
Total 72 M€
(*) Europe, Middle East and Africa, excluding Spain
Total assets (millions EUR)
2013
2012
2011
620.2
546.3
478.5
R&D+i Investment (millions EUR)
3.4
4.9
4.7
2011 2012 2013
Total installed capacity (m3/d)
Total
Design-Build
and Operation
115,000
1,021,100 m 3
/d
Design-Build
406,100
Concessions
500,000
335
Human capital
369
391
2011 2012 2013
Production (m3/year)
2013
2012
102,166,507
98,801,736
2011 80,671,220
(*) Earnings before interest, tax, depreciation and amortization.
13 / 12 / 2013 Annual Report ABENGOA WATER ABENGOA WATER 2013 Annual Report

7. Honaine
Qingdao
15 / ABENGOA WATER ABENGOA WATER 2013 Annual Report
04 | Projects
Desalination plants under concession:
Skikda
Geography
Algeria
Client
Sonatrach y Algerienne des
Eaux
Status
In operation since March
2009
O&M Period
25 years
Technology
Reverse osmosis
Investment
$ 136 million
Capacity
100,000 m3/d
Chennai
Geography
India
Client
Chennai Metropolitan
Water Supply and Sewerage
Board (CMWSSB)
Status
In operation since July 2010
O&M Period
25 years
Technology
Reverse osmosis
Investment
$ 108 million
Capacity
100,000 m3/d
Algeria
2005
2006
2007
2008
2009
2010
2011
2012
2013
25 years
Reverse
osmosis
$ 136 million
Geography
Algeria
Client
Sonatrach y Algerienne des
Eaux
Status
In operation since
September 2011
O&M Period
25 years
Technology
Reverse osmosis
Investment
$ 294 milion
Capacity
200,000 m3/d
Algeria
2005
2006
2007
2008
2009
2010
2011
2012
2013
25 years
Reverse
osmosis
$ 294 million
Geography
China
Client
Qingdao Municipal Engineering
and Public Utility Bureau and
Qingdao Water Group
Status
In operation since January
2013
O&M Period
25 years
Technology
Reverse osmosis
Investment
€ 135 million
Capacity
100,000 m3/d
China
2005
2006
2007
2008
2009
2010
2011
2012
2013
25 years
Reverse
osmosis
€ 135 million
India
2005
2006
2007
2008
2009
2010
2011
2012
2013
25 years
Reverse
osmosis
$ 108 million
14 / 2013 Annual Report

8. Ténès
Geography
Algeria
Client
Sonatrach y Algerienne des
Eaux
Status
In construction
O&M Period
25 years
Technology
Reverse osmosis
Investment
$ 264 million
Capacity
200,000 m3/d
Algeria
2005
2006
2007
2008
2009
2010
2011
2012
2013
25 years
Reverse
osmosis
$ 264 million
Accra
Geography
Ghana
Client
Ghana Water Company
Ltd.
Status
In construction
O&M Period
25 years
Technology
Reverse osmosis
Investment
$ 126 million
Capacity
60,000 m3/d
Ghana
2005
2006
2007
2008
2009
2010
2011
2012
2013
25 years
Reverse
osmosis
$ 126 million
Desalination O&M:
Almería
Geography
Spain
Client
Almeria City
Council
Status
In operation since
January 2005
O&M Period
15 years
Technology
Reserve osmosis
Investment
EPC: € 44 million
Annual O&M
budget: € 3 million
Capacity
50,000 m3/d
Spain
2005
2006
2007
2008
2009
2010
2011
2012
2013
15 years
Reverse
osmosis
€ 44 million
Cartagena
Geography
Spain
Client
Environmental
Ministry of Spain
Status
In operation since
January 2005
O&M Period
15 years
Technology
Reserve osmosis
Investment
EPC: € 55.4 million
Annual O&M
budget: € 10.5 million
Capacity
65,000 m3/d
Spain
2005
2006
2007
2008
2009
2010
2011
2012
2013
15 years
Reverse
osmosis
€ 55.4 million
Wastewater treatment
O&M:
Tablada
Geography
Seville, Spain
Client
Emasesa
Status
In operation since
2008
O&M Period
6 years
Tecnology
Activated sludge and
anaerobic digestion
Investment
EPC: € 7.8 million
Annual O&M
budget: € 1.5 million
Capacity
50,000 m3/d
Spain
2005
2006
2007
2008
2009
2010
2011
2012
2013
6 years
Activated
sludge and
anerobic
digestion
€ 7.8 million
17 / 16 / 2013 Annual Report ABENGOA WATER ABENGOA WATER 2013 Annual Report

9. Strategy investment
in China
Abengoa Water has established a
strategic agreement with a
Beijing-based water technology
company.
The commencement
of the
ValueFromUrine
project
Financed by the European Union
under the Seventh Framework
Program for R&D Technology.
The objective of the ValueFromUrine
project is to develop an effective,
energy efficient system to recuperate
nutrients from urine.
Renewal of the Quality
Control
05 | Milestones in 2013
Commissioning of
the Qingdao
Desalination
Plant
This project is the first desalination
plant developed under the project
finance model in China and was
completely financed by local banks
with an investment of 134 million
euro.
This project is Abengoa Water’s third
desalination plant in Algeria. Construction
is scheduled to be completed in
September of 2014.
Desalination
Company of
the Year
Closing of the
TecoAgua R&D
project
Reactivation of
construction of Ténès
project
We were recognized as Desalination
Company of the Year at the
prestigious 2013 Global Water
Awards, organized by Global Water
Intelligence.
Abengoa finalized the research
project CENIT TecoAgua which
worked to develop alternative water
resources with a budget of 18 million
euro. The project was spearheaded by
Abengoa Water and supported by 10
companies and 22 research centers.
During the project, over 39
prototypes, six products (in
pre-commercial phase), and more
than 20 innovative processes in water
technology were patented.
Skikda achieves
100 % of its capacity
ISO
OSHAS
Environment and Prevention
certifications (ISO 9001, ISO 14001 y
OSHAS 18001).
ISO
OSHAS
Skikda is one of the first projects
developed under the project finance
model in Algeria.
Signing of an MoU with
AES Gener to develop a
desalination plant in Chile
for energy production in
the industrial market
Abengoa will be responsable for the
engineering, construction and subsequent
operation of the plant, which will have a
total budget of 26 million USD and will
supply over 19,200 m3 of water per day
towards the generation of energy in
central Angamos.
Beginning of ZELDA
project with the
General Environmental
Direction of the
European Union
The key objective of the ZELDA project is to
demonstrate the economic and technical
viability of sustainable desalination
technology.
The project, coordinated by the CTM
Foundation, has a budget of 2.3 million
euro and Abengoa Water will be
responsable for the management of 40 %
of the total budget.
Awarded the
desalination project in
Agadir, Morocco
The plant will have a capacity of
100,000 m3/day and will be our first
desalination project in Morocco and
fourth in Northern Africa.
19 / 18 / 2013 Annual Report ABENGOA WATER ABENGOA WATER 2013 Annual Report

10. 21 20 / 2013 Annual Report ABENGOA WATER ABENGOA WATER / Informe Anual 2013