• Corporate Governance
• Director Remuneration Policy Report
• Approval of this Report

• Backgrounds
• Core Principles
• Remuneration Structure for Directors
• Total Board Remuneration
• Benchmark Parameters and Grounds for the Annual Variable Remuneration (or Bonus) systems
• Approval of this Report

This report was approved by the Board of Directors of Abengoa, S.A. at a meeting held on February 24, 2010, upon a proposal formulated by the Appointments and Remuneration Committee.