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Abengoa has an Investor and Shareholder Relations Department whose main purpose is to foster and facilitate ongoing communication with both groups of stakeholders, in addition to firms analyzing fixed and variable interest rates. The department also manages relations with credit agencies.

Fluid and transparent communication with investors and shareholders is a key factor in developing a relationship based on trust with these stakeholders. The department director has the duty of designing and implementing a program for communication with national and international financial markets in order to make the company’s key financial figures and strategic actions known.

The importance given to transparency in all market-related information vis-à-vis the different agents involved is complemented by the fact that all of the company’s analysts and investors, be they institutional or minority investors, are able to contact the Investor Relations team at any time.

To this end, a variety of channels intended to facilitate ongoing dialog with the company has been made available to all stakeholders. The different mailboxes open to the public constitute a direct communication channel enabling stakeholders to contact both the Investor Relations team as well as the company’s most senior management bodies.

Access to a whistleblower channel is also provided through the corporate website. The purpose of this channel is to provide a specific means of communicating with management and the different governing bodies, serving as an instrument to address any potential situations involving irregularities, non-compliance or conduct contrary to the ethics, legality and norms governing Abengoa.

In addition to these generic channels, other more specific platforms are in place, including the Electronic Shareholders’ Forum, through which shareholders, minority or otherwise, may request from directors any information or clarifications deemed pertinent regarding matters included on the General Shareholders Meeting agenda, or formulate in writing and submit any questions they consider relevant up until the seventh day prior to the scheduled Shareholders Meeting. Furthermore, shareholders may verbally request information or clarifications regarding matters on the agenda during the Shareholders Meeting and, if the directors are unable to provide the requested information during the meeting itself, they must do so in writing within seven days following the conclusion of the meeting.

Market presence through our communication channels

Abengoa has strengthened the relationship with its investors, working to enhance the investor service provided and the handling of requests through forthcoming and transparent communication, and addressing suggestions received by the department from the investment community through the new channels of communication that have been implemented.

2011 saw the integration of the Financial Reporting and Investor Relations teams under a single manager for the first time, which has afforded the resulting department greater flexibility in tailoring the information presented to each stakeholder, drawing an understanding of what investors wish to analyze together with the ability to treat the information presented accordingly.

Thus, quarterly earnings reports, in addition to providing the basic required information, include a comprehensive document analyzing the evolution of each segment and its corresponding key figures.

Apart from the customary telephone channel, earnings report presentations may be attended using an audio and video system that can be accessed via the company website, which in turn has been redesigned to make accessibility more intuitive and straightforward. In addition, following these presentations, a completely anonymous satisfaction survey is sent out to all participants for them to express their approval of the event or indicate potential areas for improvement.

The new department structure is intended to maximize the number of meetings and seminars held with investors, thus improving the company’s exposure at conferences and increasing direct contact through visits to a greater number of financial arenas in which to present the company’s results.

Abengoa participated in a total of 17 national and international roadshows in 2011, addressing more than 600 institutional investors in person. This activity involved visits to the most significant financial centers in Europe and the USA.