---

•	Net profit attributable to the Company for the full year 2020 was $12.0 million, compared with $62.1 million in the previous year.

•	Adjusted EBITDA including unconsolidated affiliates1 was $796.1 million in 2020, representing a 3.1% decrease compared with the previous year.

•	Net cash provided by operating activities increased by 20.5% to $438.2 million compared to $363.6 million in 2019.

•	Cash available for distribution (“CAFD”) was $200.7 million in 2020, 5.5% up on the previous year.

•	2021 CAFD target guidance established in the range of $220 million to $240 million.

•	Over $300 million in equity investments closed in 2020 and approximately $280 million new equity investments already agreed for 2021.

•	Mid-term CAFD per share growth target set in the range of 5% to 8%2.

•	Continued focused on ESG priorities, with strong ratings.

(in thousands of U.S. dollars)		Year ended December 31,
		2020				2019
Revenue		$	1,013,260			$	1,011,452
Profit for the period attributable to the Company			11,968				62,135
Adjusted EBITDA incl. unconsolidated affiliates			796,123				821,555
Net cash provided by operating activities			438,221				363,581
CAFD			200,691				190,275

		Year ended December 31,
		2020				2019
Renewable energy
MW in operation3			1,551				1,496
GWh produced4			3,244				3,236
Efficient natural gas
MW in operation5			343				343
GWh produced6			2,574				2,090
Availability (%)5,7			102.1	%			95.0	%
Transmission and Transportation
Miles in operation			1,166				1,166
Availability (%)7			100.0	%			100.0	%
Water
Mft3 in operation3			17.5				10.5
Availability (%)7			100.1	%			101.2	%

(in thousands of U.S. dollars)		Year ended December 31,
		2020				2019
Revenue by business sector
Renewable energy		$	753,089			$	761,090
Efficient natural gas			111,030				122,281
Transmission and Transportation			106,042				103,453
Water			43,099				24,629
Total Revenue		$	1,013,260			$	1,011,452
Adjusted EBITDA incl. unconsolidated affiliates by business sector
Renewable energy		$	576,285			$	604,079
Efficient natural gas			101,006				109,200
Transmission and Transportation			87,272				85,658
Water			31,560				22,619
Total Adjusted EBITDA incl. unconsolidated affiliates		$	796,123			$	821,556

•	Increased production in the U.S. solar portfolio by 2.1% compared with the previous year thanks to better performance of Mojave.

•	Production in Spain decreased in relation to the previous year mainly due to lower solar radiation in the first half of 2020.

•	In South Africa, production decreased mainly as a result of an unscheduled outage in the first quarter of 2020.

•	Finally, production from wind assets increased by 7.4% compared with the previous year, as a result of good wind resources along with stable performance of the assets.

•

In February 2021, Sustainalytics updated its rating on Atlantica’s ESG factors. Atlantica was rated in the ESG Risk Rating assessment as the top company globally within both the renewable power production and the broader utility industry, and in the top 1% in the global rating universe, improving its score versus last year.

•	In January 2021, Atlantica was rated “A-” by CDP, among the leaders in our sector.

•	Also in January 2021, Atlantica was included in the Global 100 Most Sustainable Companies Index by Corporate Knights11, ranking 12th overall and 2nd in Power Generation.

•

Finally, Bloomberg included Atlantica in its Gender-Equality Index (GEI). The GEI includes 380 companies across 11 sectors and 44 countries and regions. It measures disclosure and gender equality using indicators across five areas: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and pro-women brand.

1.

Over $300 million in equity investments closed in 2020

2.

Approximately $280 million investments already agreed for 2021

•

Coso: Atlantica reached an agreement to acquire a 135 MW renewable asset in California. Coso is the third largest geothermal plant in the United States and provides base load renewable energy to the California ISO. It has PPAs signed with three investment grade off-takers, with 19 years average contract life. Closing is subject to customary regulatory approvals and is expected to occur in the first half of 2021. Total investment is expected to be approximately $170 million, including approximately $130 million for the equity and $40 million expected to be invested in reducing project debt. The transaction’s EV/EBITDA multiple is 12.4x.

•

Chile PV 2: On January 6, 2021, Atlantica closed its second investment through the renewable energy platform in Chile with the acquisition of “Chile PV 2”. Chile PV 2 is a 40 MW solar PV plant with partially contracted revenues.

•

La Sierpe: In December 2020, Atlantica reached an agreement with Algonquin to acquire “La Sierpe”, a 20 MW solar asset with a 15-year PPA in place in Colombia. The investment is expected to be approximately $20 million. Closing is expected to occur after the asset reaches commercial operation, currently expected by mid-2021. Additionally, Atlantica agreed to potentially co-invest with Algonquin in additional solar plants in Colombia with a combined capacity of approximately 30 MW, which will be developed and built by AAGES.

•

Calgary District Heating: In October 2020, Atlantica reached an agreement to acquire “Calgary District Heating”, a district heating asset in Canada in operation since 2010 and with 20 years of weighted average contract life, for a total equity investment of approximately $20 million. Closing is expected to occur by mid-2021 subject to regulatory approval.

•

2021 targeted Adjusted EBITDA including unconsolidated affiliates in the range of $820 million to $860 million.

•

2021 targeted CAFD in the range of $220 million to $240 million, an equivalent of $1.99 to $2.17 per share13.

i.	Organic growth can be delivered through the optimization of the existing portfolio, escalation factors in many of our assets and the expansion of current assets, particularly our transmission lines. Additionally, we expect to find opportunities to expand or repower some of our renewable assets.

ii.	Development of new assets. The Company intends to invest and co-invest developing assets with partners, including AAGES, and in some cases internally.

iii.	Third-party acquisitions. In addition, Atlantica expects to continue acquiring assets from third parties, leveraging its local presence and network in different geographies and sectors.

•	they do not reflect our cash expenditures, future requirements for capital expenditures or contractual commitments;

•	they do not reflect changes in, or cash requirements for, our working capital needs;

•	they may not reflect the significant interest expense, or the cash requirements necessary, to service interest or principal payments, on our debts;

•	although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often need to be replaced in the future and Adjusted EBITDA and CAFD do not reflect any cash requirements that would be required for such replacements;

•	some of the exceptional items that we eliminate in calculating Adjusted EBITDA reflect cash payments that were made, or will be made in the future; and

•	the fact that other companies in our industry may calculate Adjusted EBITDA and CAFD differently than we do, which limits their usefulness as comparative measures.

		For the three-month period ended December 31,								For the twelve-month period ended December 31,
		2020				2019				2020				2019
Revenue		$	244,526			$	213,289			$	1,013,260			$	1,011,452
Other operating income			23,623				20,074				99,525				93,774
Employee benefit expenses			(17,034	)			(11,969	)			(54,464	)			(32,246	)
Depreciation, amortization, and impairment charges			(106,438	)			(75,866	)			(408,604	)			(310,755	)
Other operating expenses			(79,031	)			(61,194	)			(276,666	)			(261,776	)
Operating profit		$	65,646			$	84,334			$	373,051			$	500,449
Financial income			639				1,268				7,052				4,121
Financial expense			(88,947	)			(97,757	)			(378,386	)			(407,990	)
Net exchange differences			131				(127	)			(1,351	)			2,674
Other financial income/(expense), net			(21,722	)			(1,095	)			40,875				(1,153	)
Financial expense, net		$	(109,899	)		$	(97,711	)		$	(331,810	)		$	(402,348	)
Share of profit/(loss) of associates carried under the equity method			2,758				3,576				510				7,457
Profit/(loss) before income tax		$	(41,495	)		$	(9,801	)		$	41,751			$	105,558
Income tax			202				16,029				(24,877	)			(30,950	)
Profit/(loss) for the period		$	(41,293	)		$	6,228			$	16,874			$	74,608
Profit attributable to non- controlling interest			(7,948	)			(4,925	)			(4,906	)			(12,473	)
Profit/(loss) for the period attributable to the Company		$	(49,241	)		$	1,303			$	11,968			$	62,135
Weighted average number of ordinary shares outstanding (thousands) – basic			102,704				101,601				101,879				101,063
Weighted average number of ordinary shares outstanding (thousands) - diluted			106,051				101,601				103,392				101,063
Basic earnings per share attributable to Atlantica Sustainable Infrastructure plc (U.S. dollar per share)		$	(0.48	)		$	0.01			$	0.12			$	0.61
Diluted earnings per share attributable to Atlantica Sustainable Infrastructure plc (U.S. dollar per share)		$	(0.47	)		$	0.01			$	0.12			$	0.61

		For the three-month period ended December 31,								For the twelve-month period ended December 31,
		2020				2019				2020				2019
Profit/(loss) for the period		$	(41,293	)		$	6,228			$	16,874			$	74,608
Financial expense and non-monetary adjustments			205,219				149,062				741,797				701,837
Profit for the period adjusted by financial expense and non-monetary adjustments		$	163,926			$	155,290			$	758,671			$	776,445
Variations in working capital			95,713				18,699				(33,212	)			(113,351	)
Net interest and income tax paid			(124,661	)			(131,845	)			(287,239	)			(299,514	)
Net cash provided by/(used in) operating activities		$	134,978			$	42,144			$	438,221			$	363,581
Acquisitions of subsidiaries and entities under equity method			(6,490	)			(20,190	)			2,453				(173,366	)
Investments in contracted concessional    assets			(5,180	)			7,305				(1,361	)			22,009
Distributions from entities under the equity method			2,106				3,498				22,246				30,443
Other non-current assets/liabilities			(14,811	)			38,677				(29,198	)			2,703
Net cash (used in)/provided by activities		$	(24,375	)		$	29,290			$	(5,860	)		$	(118,211	)
Net cash (used in)/provided by financing activities		$	(41,541	)		$	(161,628	)		$	(137,340	)		$	(310,182	)
Net increase/(decrease) in cash and cash equivalents		$	69,062			$	(90,194	)		$	295,021			$	(64,812	)
Cash and cash equivalents at beginning of the period			788,896				641,728				562,795				631,542
Translation differences in cash or cash equivalents			10,543				11,260				10,685				(3,935	)
Cash and cash equivalents at end of the period		$	868,501			$	562,795			$	868,501			$	562,795

(in thousands of U.S. dollars)		For the three-month period ended December 31,								For the twelve-month period ended December 31,
		2020				2019				2020				2019
Net cash provided by operating activities		$	134,978			$	42,144			$	438,221			$	363,581
Net interest and income tax paid			124,661				131,845				287,239				299,514
Variations in working capital			(95,713	)			(18,699	)			33,212				113,351
Other non-cash adjustments and other			8,157				4,910				22,983				34,758
Adjusted EBITDA		$	172,083			$	160,200			$	781,655			$	811,204
Atlantica’s pro-rata share of EBITDA from unconsolidated affiliates			3,013				3,229				14,468				10,351
Adjusted EBITDA including unconsolidated affiliates		$	175,096			$	163,429			$	796,123			$	821,555

(in thousands of U.S. dollars)		For the three-month period ended December 31,								For the twelve-month period ended December 31,
		2020				2019				2020				2019
Profit/(loss) for the period attributable to the Company		$	(49,241	)		$	1,303			$	11,968			$	62,135
Profit/(loss) attributable to non-controlling interest			7,948				4,925				4,906				12,473
Income tax			(202	)			(16,029	)			24,877				30,950
Share of loss/(profit) of associates carried under the equity method			(2,758	)			(3,576	)			(510	)			(7,457	)
Financial expense, net			109,899				97,711				331,810				402,348
Operating profit		$	65,646			$	84,334			$	373,051			$	500,449
Depreciation, amortization, and impairment charges			106,438				75,866				408,604				310,755
Atlantica’s pro-rata share of EBITDA from unconsolidated affiliates			3,013				3,229				14,468				10,351
Adjusted EBITDA including unconsolidated affiliates		$	175,096			$	163,429			$	796,123			$	821,555
Atlantica’s pro-rata share of EBITDA from unconsolidated affiliates			(3,013	)			(3,229	)			(14,468	)			(10,351	)
Dividends from equity method investments			2,106				3,498				22,246				30,443
Non-monetary items			(8,289	)			(4,783	)			(21,633	)			(37,432	)
Net interest and income tax paid			(124,661	)			(131,845	)			(287,239	)			(299,514	)
Deposits into/ withdrawals from restricted accounts			27,807				(1,692	)			87,177				1,719
Change in non-restricted cash at project level			34,784				115,626				(78,618	)			70,527
Dividends paid to non-controlling interests			(1,950	)			(5,156	)			(22,944	)			(29,239	)
Changes in other assets and liabilities			100,843				37,765				(19,531	)			(102,639	)
Cash Available For Distribution before Debt Principal Repayments			202,723				173,613				461,113				445,069
Principal amortization of indebtedness			(151,260	)			(123,568	)			(260,422	)			(254,794	)
Cash Available For Distribution		$	51,463			$	50,045			$	200,691			$	190,275

		Guidance14
(in millions of U.S. dollars)			2021E
Adjusted EBITDA including unconsolidated affiliates			820 – 860
Atlantica’s pro-rata share of EBITDA from unconsolidated affiliates			(10) – (15)
Dividends from unconsolidated affiliates			20 – 30
Non-monetary items			(20) – (30)
Net interest and income tax paid			(280) – (300)
Principal amortization of indebtedness			(290) – (310)
Changes in other assets and liabilities and change in available cash at project level			0 – 20
Cash Available For Distribution			220 - 240

Chief Financial Officer	Investor Relations & Communication
Francisco Martinez-Davis	Leire Perez
E ir@atlantica.com	E ir@atlantica.com
	T +44 20 3499 0465

---

	Atlantica Sustainable Infrastructure plc
Date: March 01, 2021	By:	/s/ Santiago Seage
		Name:	Santiago Seage
		Title:	Chief Executive Officer