ABENGOA Innovative technology solutions for sustainability

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1 Abengoa announces the opening of the accession period to the Restructuring Agreement September 24 th Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB) (the Company ), the international company that applies innovative technology solutions for sustainability in the energy and environment sectors, informs it has signed, together with a group of its subsidiaries with debt that is subject to the restructuring and a group of financial creditors that will also be participating in the new money and new bonding facilities, a Restructuring Agreeme nt for which the accession period will now be open for the remaining financial creditors. Once the accession period is finalized and after obtaining the support of creditors representing at least 75% of financial liabilities, as required by Spanish Brankruptcy Law, judicial approval (homologación judicial) of the Restructuring Agreement will be applied for, so that the Standard Restructuring Terms (debt reduction of 97% of its nominal value in most of the debtor companies, while keeping the remaining nominal value after the reduction with a ten-year maturity from the date on which the restructuring is completed, with no annual coupon or option for capitalization) are applied to those unsecured creditors of the Company and of Spanish subsidiaries with debt subject to the financial restructuring, that did not accede to the Restructuring Agreement or that, having done so, did not specifically choose the Alternative Restructuring Terms that, in summary, consist of: - Capitalisation of 70% of preexisting debt in exchange for 40% of Abengoa s new share capital post restructuring. - The remaining 30% of the nominal value of the preexisting debt will be refinanced through new debt instruments, replacing the preexisting ones, which will rank as senior or junior depending on whether or not such creditor participates in the new money facilities or new bonding facilities. Such instruments will have maturities of 66 and 72 months respectively, with the possibility of an extension of up to 24 months, accruing annual interest of 1.50% (0.25% cash payment and 1.25% Pay If You Can). The junior instrument could be subject to additional reductions (provided that total reduction does not exceed 80% of the nominal value prior to the capitalization) if the aggregate amount of refinanced preexisting debt (after the aforementioned capitalization) exceeds 2,700 million euros due to the crystallization of contingencies. Once the homologation request has been filed, the following procedures in the United States and the United Kingdom will be initiated: - A Company Voluntary Arrangement ( CVA ) in England and Wales at the request of Abengoa Concessions Investments Limited in accordance with Part I of the English Insolvency Act 1986; and 1

2 - Various procedures under Chapter 11 ( Chapter 11 ) of the U.S. Bankruptcy Code at the request of various subsidiaries incorporated in the United States. Both the CVA and the Chapter 11 procedures have the objective of extending the Standard Restructuring Terms described previously to the liabilities of the companies promoting the procedures for those creditors that have not acceded to the Restructuring Agreement. For these purposes, the Company announces the procedure for the accession of the financial creditors to the Restructuring Agreement: For noteholders The Company requests the beneficial owners of the debt securities listed below to submit their accession to the Restructuring Agreement through an Electronic Instruction (for securities held in Euroclear/Clearstream) or Form Sub-Proxy (for securities held in DTC) to be delivered through the custodian entities where the securities are deposited. To this effect, Lucid Issuer Services Limited will provide a Restructuring Accession Notice including the necessary instructions for submission of the Electronic Instruction and the Form of Sub-Proxy. For assistance in relation to the accession process, noteholders can contact Lucid Issuer Services Limited (abengoa@lucid-is.com). 1) The affected bond issues are the following: (i) Abengoa, S.A. s 500,000, per cent. Notes due 2016 (ISIN: XS ); (ii) Abengoa, S.A. s 250,000, % Senior Unsecured Convertible Notes due 2017 (ISIN: XS ); (iii) Abengoa, S.A. s 400,000, % Senior Unsecured Convertible Notes due 2019 (Rule 144A Notes ISIN: XS ; Regulation S Notes ISIN: XS ); (iv) Abengoa, S.A. s US$279,000, % Exchangeable Notes due 2017 (Rule 144A Notes ISIN: US00289RAD44, CUSIP: 00289RAD4; Regulation S Notes ISIN: XS ); Abengoa Finance, S.A.U. s US$650,000, % guaranteed Senior Notes due 2017 (Rule 144A Notes ISIN: US00289RAA05, CUSIP: 00289RAA0; Regulation S Notes ISIN: USE0002VAC84, CUSIP: E0002VAC8); (vi) Abengoa Finance, S.A.U. s 550,000, % guaranteed Senior Notes due 2018 (Rule 144A Notes ISIN: XS ; Regulation S Notes ISIN: XS ); (vii) Abengoa Greenfield, S.A. s 265,000, % guaranteed Senior Notes due 2019 (Rule 144A Notes ISIN: XS ; Regulation S Notes ISIN: XS ); (viii) Abengoa Greenfield, S.A.'s US$300,000, % guaranteed Senior Notes due 2019 (Rule 144A Notes ISIN: US00289WAA99, CUSIP: 00289WAA9; Regulation S Notes ISIN: USE00020AA01, CUSIP: E00020AA0); 2

3 (ix) Abengoa Finance, S.A.U. s US$450,000, % guaranteed Senior Notes due 2020 (Rule 144A Notes ISIN: US00289VAB99, CUSIP: 00289VAB9; Regulation S Notes ISIN: USE0000TAE13, CUSIP: E0000TAE1); Abengoa Finance, S.A.U. s 375,000, % guaranteed Senior Notes due 2020 (Rule 144A Notes ISIN: XS ; Regulation S Notes ISIN: XS ); and (xi) Abengoa Finance, S.A.U. s 500,000, % guaranteed Senior Notes due 2021 (Rule 144A Notes ISIN: XS ; Regulation S Notes ISIN: XS )). 2) The following notes issued under the Company s 750,000,000 Euro-Commercial Paper Programme: (i) (ii) (iii) (iv) (vi) Series ECP283 US$3,800,000 due 25 November 2015 (ISIN: XS ); Series ECP318 US$1,500,000 due 25 November 2015 (ISIN: XS ); Series ECP321 2,250,000 due 2 December 2015 (ISIN: XS ); Series ECP322 1,100,000 due 3 December 2015 (ISIN: XS ); Series ECP294 1,104,000 due 10 December 2015 (ISIN: XS ); Series ECP323 4,400,000 due 10 December 2015 (ISIN: XS ); (vii) Series ECP324 1,000,000 due 15 December 2015 (ISIN: XS ); (viii) Series ECP298 US$1,000,000 due 23 December 2015 (ISIN: (ix) (xi) XS ); Series ECP328 2,000,000 due 23 December 2015 (ISIN: XS ); Series ECP340 2,800,000 due 23 December 2015 (ISIN: XS ); Series ECP330 1,100,000 due 8 January 2016 (ISIN: XS ); (xii) Series ECP331 5,100,000 due 8 January 2016 (ISIN: XS ); (xiii) Series ECP333 1,200,000 due 12 January 2016 (ISIN: XS ); (xiv) Series ECP337 US$1,000,000 due 15 January 2016 (ISIN: XS ); (xv) Series ECP302 9,960,000 due 15 January 2016 (ISIN: XS ); (xvi) Series ECP339 2,500,000 due 26 January 2016 (ISIN: XS ); (xvii) Series ECP278 1,160,000 due 3 February 2016 (ISIN: XS ); (xviii) Series ECP311 1,000,000 due 5 February 2016 (ISIN: XS ); (xix) Series ECP292 1,000,000 due 4 March 2016 (ISIN: XS ); (xx) Series ECP296 1,000,000 due 16 March 2016 (ISIN: XS ); (xxi) Series ECP319 1,000,000 due 30 March 2016 (ISIN: XS ); (xxii) Series ECP320 5,000,000 due 1 April 2016 (ISIN: XS ); (xxiii) Series ECP307 1,105,000 due 22 April 2016 (ISIN: XS ); 3

4 (xxiv) Series ECP326 1,200,000 due 16 June 2016 (ISIN: XS ); (xxv) Series ECP327 2,100,000 due 21 June 2016 (ISIN: XS ); (xxvi) Series ECP329 1,000,000 due 29 June 2016 (ISIN: XS ); (xxvii) Series ECP338 1,450,000 due 19 July 2016 (ISIN: XS ) 3) The following notes issued under the Company s Senior Unsecured Programme for the issuance of Notes by Specified Issuers unconditionally and irrevocably guaranteed by Abengoa, S.A: (i) (ii) (iii) (iv) (vi) Series 1 EUR 5,000,000 due 10 December 2019 (ISIN: XS ); Series 2 EUR 5,800,000 due 8 December 2017 (ISIN: XS ) Series 3 EUR 15,000,000 due 2019 (ISIN: XS ); Series 4 EUR 15,000,000 due 2017 (ISIN: XS ); Series 5 EUR 20,000,000 due 2019 (ISIN: XS ); Series 6 EUR 5,000,000 due 2017 (ISIN: XS ); (vii) Series 7 EUR 15,000,000 due 2019 (ISIN: XS ); (viii) Series 8 EUR 25,000,000 due 2020 (ISIN: XS ); (ix) (xi) Series 9 EUR 19,200,000 due 2020 (ISIN: XS ); Series 10 EUR 22,000,000 due 2020 (ISIN: XS ); Series 11 EUR 5,000,000 due 2018 (ISIN: XS ); (xii) Series 12 EUR 40,000,000 due 2020 (ISIN: XS ); (xiii) Series 13 EUR 8,000,000 due 2020 (ISIN: XS ); (xiv) Series 14 EUR 15,000,000 due 2018 (ISIN: XS ); (xv) Series 15 EUR 29,000,000 due 2020 (ISIN: XS ); (xvi) Series 16 EUR 5,000,000 due 2020 (ISIN: XS ); (xvii) Series 17 EUR 15,000,000 due 2020 (ISIN: XS ); (xviii) Series 18 EUR 15,000,000 due 2020 (ISIN: XS ); (xix) Series 19 EUR 15,000,000 due 2020 (ISIN: XS ); (xx) Series 20 EUR 5,000,000 due 2020 (ISIN: XS ); (xxi) Series 21 EUR 15,000,000 due 2020 (ISIN: XS ); (xxii) Series 22 EUR 15,000,000 due 2020 (ISIN: XS ); (xxiii) Series 23 EUR 21,000,000 due 2020 (ISIN: XS ); (xxiv) Series 24 EUR 5,000,000 due 2020 (ISIN: XS ) Pursuant to the Restructuring Accession Notice the deadline for submission by the beneficial owners of instructions to enter into, and therefore, sign and execute, the 4

5 Restructuring Agreement is 6 a.m. (Spanish time) on October 25 th 2016, unless extended. Remaining financial creditors The accession period will be open from September 26 th, 2016 until October 25 th, Accessions shall be formalized in public deed, granted by duly authorised person on behalf the relevant creditor, which shall be granted before the Notary Public of Madrid, Mr. José Miguel García Lombardía (with Notarial offices at calle José Ortega y Gasset 5, primero izquierda, with telephone number ) with previous appointment, between 9:30 a.m. and 7 p.m. every business day and up until 2 p.m. during bank holidays in Madrid. The deed for accession will be available for financial creditors at the aforementioned Notarial offices. For more information on timetables and appointments, please direct yourselves to the Notarial offices. Financial creditors can also accede to the Restructuring Agreement by an accession deed granted before any notary public of its place of residence in Spain, in which case, you should request the notary public authorizing the documentation to send a signed copy of the public deed to the Notary authorizing the Restructuring Agreement, that is, Mr. José Miguel García Lombardía. Additional information regarding this matter can be found in a dedicated section in Abengoa s website, or you can contact the Company on the contact details below. About Abengoa Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB) applies innovative technology solutions for sustainability in the energy and environment sectors, generating electricity from renewable resources, converting biomass into biofuels and producing drinking water from sea water. Communication Department: Cristina Cabrera Angulo Tel: communication@abengoa.com Investor Relations & Capital Markets: Izaskun Artucha Irene Sánchez Tel: ir@abengoa.com You can also follow us And on our blog: 5