UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20509 Form 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...

Financial Data and Key Metrics Changes - Revenue for the first nine months of 2022 reached $858 million, representing a 4.9% growth on a comparable basis [6] - Adjusted EBITDA amounted to $631 million, reflecting an increase of 4.3% on the same comparable basis [6] - Cash available for distribution increased by 6.2% year-over-year to $179 million [5][6] - Net corporate debt ratio stood at three times as of the end of September, providing significant financial flexibility [5] Performance by Business Lines - In North America, revenue increased by 5% to $324 million, while EBITDA increased by 6% due to recent acquisitions [7] - In South America, both revenue and EBITDA increased by 5% to $123 million and $95 million, respectively, also attributed to recent acquisitions [7] - EMEA region saw a revenue decrease of 20% and EBITDA decrease of 5%, primarily due to foreign exchange impacts and a nonrecurring effect from the previous year [8] Market Data and Key Metrics Changes - Electricity produced by renewable assets reached 4,155 gigawatt hours, a 20% increase compared to the same period in 2021 [9] - Operating cash flow increased by 16.7% to $516 million compared to the first nine months of 2021 [10] - Net project debt decreased by over $500 million compared to the end of 2021, standing at $3,946 million as of September 30, 2022 [11] Company Strategy and Development Direction - Company committed close to $150 million in new investments, including a stand-alone battery storage system and a solar PV plant [12] - The battery storage project in California is expected to have a capacity of around 100-megawatt hours and is set to start operation in 2024 [12] - The company aims to leverage opportunities in the Southwest region for storage and renewable energy projects [13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the Inflation Reduction Act, which is expected to be a game changer for the sector [12] - The company has a hedging strategy to limit exposure to foreign exchange fluctuations and protect against inflation [14][15] - Management indicated that the growth outlook remains strong, with a focus on developing a pipeline of projects in the U.S. [35] Other Important Information - The company maintains a dividend policy with an approximate 80% payout ratio, subject to Board discretion [38] - The company is exploring opportunities with Algonquin as a source of growth [40] Q&A Session Summary Question: Do you have PPAs for the battery investments? - Management indicated that different options are being considered, including full PPAs and fixed payments through resource adequacy, both expected to yield good returns [19] Question: What are the expected CAFD yields from the new investments? - Management mentioned that the expected EV to EBITDA multiples for the projects are 10 times and 6 times, indicating strong returns [21] Question: Any updates on growth projections for CAFD per share? - Management stated that guidance will be provided in February during the annual results announcement [25] Question: Can you discuss the U.S. pipeline and interconnection challenges? - Management confirmed that the Inflation Reduction Act will help develop a pipeline of projects, particularly in storage and PV [35] Question: Will you increase retained cash to fund new projects? - Management reiterated the current policy of an 80% payout ratio, with future decisions at the Board's discretion [38] Question: What are the plans for the Lone Star II wind project? - Management indicated that the short-term intention is to sell to the market, with potential for repowering in the future [30]

Financial Data and Key Metrics Changes - Revenue for the first half of 2022 reached $555 million, representing a 4.7% growth on a comparable basis [5] - Adjusted EBITDA amounted to $402 million, reflecting a 3.7% increase on the same comparable basis [5] - Cash available for distribution (CAFD) grew by 6.7% year-over-year to $117 million [4][5] - Operating cash flow increased by 7.2% to $264 million compared to the first half of 2021 [8] - Net project debt and total net debt decreased by more than $300 million in the first half of 2022 [12] Business Line Data and Key Metrics Changes - In North America, revenue increased by 11% to $199 million, with EBITDA rising by 19% due to recently acquired assets [6] - Revenue and EBITDA in South America remained stable, with lower wind resources offsetting contributions from new assets [6] - EMEA region saw a revenue decrease of 22% and EBITDA decrease of 13%, primarily due to foreign exchange impacts and a nonrecurring effect from the previous year [6][7] Market Data and Key Metrics Changes - Energy produced by renewable assets reached 2,647 gigawatt hours, a 33% increase compared to the same period in 2021 [7] - The company continues to achieve high availability levels in transmission lines and water sectors [7] Company Strategy and Development Direction - The company has earmarked investments between $160 million and $180 million for growth in the first half of the year [4] - Future investments are expected to be between $60 million and $80 million in assets under construction [9] - The company aims to create value through CAFD generation and debt repayment, reinforcing a conservative debt structure [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for repowering and hybridizing existing projects with storage technologies, contingent on legislative support [19] - The supply chain situation is gradually improving, with management optimistic about future availability of equipment [27] - The market for asset pricing is becoming more rational, with sellers adjusting expectations to more reasonable levels [29] Other Important Information - The Board of Directors declared a quarterly dividend of $0.445 per share [4] Q&A Session Summary Question: Impact of FX on cost structure and capital structure - Management explained that revenues in euros from Spanish projects are naturally hedged by euro-denominated debt and G&A expenses [15][17] Question: Opportunities for repowering and storage - Management acknowledged potential opportunities for repowering and hybridizing projects, depending on tax advantages from legislation [19] Question: Expansion opportunities in Europe - Management indicated that while existing assets are fully contracted, there are opportunities for expansions and new projects in Spain and Italy [25] Question: Supply chain availability of equipment - Management noted that supply chain issues are improving, allowing for continued project plans without major disruptions [27] Question: Asset pricing and acquisition opportunities - Management observed a shift towards more rational pricing in the market, with opportunities for value creation in future acquisitions [29] Question: Impact of inflation-linked PPAs - Management confirmed that inflation-linked contracts will provide more significant benefits in the coming years, with some early impacts already being felt [32]

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Q1 2022 Earnings Conference Call May 9, 2022 8:15 AM ET Company Participants Santiago Seage - Chief Executive Officer Francisco Martinez-Davis - Chief Financial Officer Conference Call Participants Colton Bean - Tudor, Pickering, Holt & Co. Julien Dumoulin-Smith - Bank of America Mark Strouse - JPMorgan Mark Jarvi - CIBC David Quezada - Raymond James William Grippin - UBS Operator Welcome to Atlantica’s First Quarter 2022 Financial Results Conference Call ...

Financial Performance - Atlantica's CAFD increased by 124% year-over-year in 2021, reaching $2256 million[5] - The company's Q4 2021 dividend was $044 per share[5] - Atlantica's 2022 CAFD target guidance is established at $230 million-$250 million[5] - Adjusted EBITDA increased to $8244 million in 2021[8], a 36% increase compared to $7961 million in 2020[8] - Revenue increased by 196% to $12117 million in 2021[8] from $10133 million in 2020[7] Investments and Growth - Approximately $110 million-$120 million in new equity investments are already closed or earmarked for 2022[5, 30] - Atlantica is targeting a CAFD per share Compound Annual Growth Rate in the range of 5%-8% from 2021 until the year 2025[41] Operational Metrics - Renewables production reached 4,655 GWh in 2021[15] - Efficient Natural Gas & Heat production reached 2,292 GWh in 2021[15] - Transmission Lines availability was 1000% in 2021[16]