UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May, 2018

Commission File Number 001-36487

Atlantica Yield plc

(Exact name of Registrant as Specified in its Charter)

Not Applicable

(Translation of Registrant's name into English)

Great West House, GW1, 17th floor

Great West Road

Brentford, TW8 9DF

United Kingdom

Tel.: +44 20 7098 4384

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

☒ Form 20-F ☐ Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

First Quarter 2018 Earnings PresentationMay 14, 2018

This presentation contains forward-looking statements. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this presentation, including, without limitation, those regarding our future financial position and results of operations, our strategy, plans, objectives, goals and targets, future developments in the markets in which we operate or are seeking to operate or anticipated regulatory changes in the markets in which we operate or intend to operate. In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “is likely to,” “may,” “plan,” “potential,” “predict,” “projected,” “should” or “will” or the negative of such terms or other similar expressions or terminology. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements speak only as of the date of this presentation and are not guarantees of future performance and are based on numerous assumptions. Our actual results of operations, financial condition and the development of events may differ materially from (and be more negative than) those made in, or suggested by, the forward-looking statements.Many factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others: difficult conditions in the global economy and in the global market and uncertainties in emerging markets where we have international operations; changes in government regulations providing incentives and subsidies for renewable energy, including reduction of our revenues in Spain, which are mainly defined by regulation through parameters that could be reviewed at the end of each regulatory period; our ability to acquire solar projects due to the potential increase of the cost of solar panels; political, social and macroeconomic risks relating to the United Kingdom’s exit from the European Union; changes in general economic, political, governmental and business conditions globally and in the countries in which we do business; decreases in government expenditure budgets, reductions in government subsidies or adverse changes in laws and regulations affecting our businesses and growth plan; challenges in achieving growth and making acquisitions due to our dividend policy; inability to identify and/or consummate future acquisitions, under the AAGES ROFO Agreement, the Abengoa ROFO Agreement or otherwise, on favorable terms or at all; our ability to identify and reach an agreement with new sponsors or partners similar to the ROFO agreements with AAGES, Algonquin or Abengoa; our ability to identify and/or consummate future acquisitions from third parties or from potential new partners, including as a result of not being able to find acquisition opportunities at attractive prices; legal challenges to regulations, subsidies and incentives that support renewable energy sources; extensive governmental regulation in a number of different jurisdictions, including stringent environmental regulation; increases in the cost of energy and gas, which could increase our operating costs; counterparty credit risk and failure of counterparties to our offtake agreements to fulfill their obligations; inability to replace expiring or terminated offtake agreements with similar agreements; new technology or changes in industry standards; inability to manage exposure to credit, interest rates, foreign currency exchange rates, supply and commodity price risks; reliance on third-party contractors and suppliers; risks associated with acquisitions and investments; deviations from our investment criteria for future acquisitions and investments; failure to maintain safe work environments; effects of catastrophes, natural disasters, adverse weather conditions, climate change, unexpected geological or other physical conditions, criminal or terrorist acts or cyber-attacks at one or more of our plants; insufficient insurance coverage and increases in insurance cost; litigation and other legal proceedings, including claims due to Abengoa’s restructuring process; reputational risk, including potential damage caused to us by Abengoa’s reputation; the loss of one or more of our executive officers; failure of information technology on which we rely to run our business; revocation or termination of our concession agreements or power purchase agreements; lowering of revenues in Spain that are mainly defined by regulation; risk that the 16.5% Share Sale will not be completed; inability to adjust regulated tariffs or fixed-rate arrangements as a result of fluctuations in prices of raw materials, exchange rates, labor and subcontractor costs; exposure to electricity market conditions, which can impact revenue from our renewable energy and conventional power facilities; changes to national and international law and policies that support renewable energy resources; lack of electric transmission capacity and potential upgrade costs to the electric transmission grid; disruptions in our operations as a result of our not owning the land on which our assets are located; risks associated with maintenance, expansion and refurbishment of electric generation facilities; failure of our assets to perform as expected, including Solana and Kaxu; failure to receive dividends from all project and investments, including Solana and Kaxu; failure or delay to reach the “flip-date” by Liberty Interactive Corporation in its tax equity investment in Solana; variations in meteorological conditions; disruption of the fuel supplies necessary to generate power at our efficient natural gas power generation facilities; deterioration in Abengoa’s financial condition; Abengoa’s ability to meet its obligations under our agreements with Abengoa, to comply with past representations, commitments and potential liabilities linked to the time when Abengoa owned the assets, potential clawback of transactions with Abengoa, and other risks related to Abengoa; failure to meet certain covenants or payment obligations under our financing arrangements; failure to obtain pending waivers in relation to the minimum ownership by Abengoa and the cross-default provisions contained in some of our project financing agreements; failure of Abengoa to maintain existing guarantees and letters of credit under the Financial Support Agreement or failure by us to maintain guarantees; failure of Abengoa to maintain its obligations and production guarantees, pursuant to EPC contracts; our ability to consummate future acquisitions from AAGES, Algonquin, Abengoa or others; our ability to close acquisitions under our ROFO agreements with AAGES, Algonquin, Abengoa and others due to, among other things, not being offered assets that fit our portfolio or, reaching agreements on prices or, in the case of the Abengoa ROFO Agreement, the risk of Abengoa selling assets before they reach COD; changes in our tax position and greater than expected liability; conflicts of interests which may be resolved in a manner that is not in our best interests or the best interests of our minority shareholders, potentially caused by our ownership structure and certain service agreements in place with our current largest shareholder; the divergence of interest between us and Abengoa, due to Abengoa’s sale of our shares; potential negative tax implications from being deemed to undergo an “ownership change” under section 382 of the Internal Revenue Code, including limitations on our ability to use U.S. NOLs to offset future income tax liability; negative implications from a potential change of control; negative implications of U.S. federal income tax reform; technical failure, design errors or faulty operation of our assets not covered by guarantees or insurance; and failure to collect insurance proceeds in the expected amounts. Furthermore, any dividends are subject to available capital, market conditions, and compliance with associated laws and regulations. These factors should be considered in connection with information regarding risks and uncertainties that may affect Atlantica Yield’s future results included in Atlantica Yield’s filings with the U.S. Securities and Exchange Commission at www.sec.gov. Atlantica Yield undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or developments or otherwise. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or targeted.This presentation includes certain non-GAAP (Generally Accepted Accounting Principles) financial measures which have not been subject to a financial audit for any period. We present non-GAAP financial measures because we believe that they and other similar measures are widely used by certain investors, securities analysts and other interested parties as supplemental measures of performance and liquidity.The non-GAAP financial measures may not be comparable to other similarly titled measures of other companies and have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of our operating results as reported under IFRS as issued by the IASB. Non-GAAP financial measures and ratios are not measurements of our performance or liquidity under IFRS as issued by the IASB and should not be considered as alternatives to operating profit or profit for the year or any other performance measures derived in accordance with IFRS as issued by the IASB or any other generally accepted accounting principles or as alternatives to cash flow from operating, investing or financing activities.The CAFD and other guidance included in this presentation are estimates as of May 14, 2018. These estimates are based on assumptions believed to be reasonable as of that date. Atlantica Yield plc. disclaims any current intention to update such guidance, except as required by law. DISCLAIMER

Key Messages Strong Results in the QuarterRevenues $225.3 M (+14%)Further Adj. EBITDA Incl. Unconsolidated Affiliates1 $179.8 M (+9%)CAFD of $43.0 M Dividend of $0.32 per share declared by the Board of Directors, representing an increase of 28% compared to Q1’17 Strong commitment from Algonquin25% shareholder, with an additional 16.5% expected to close in Q2 or Q3Acting as new sponsor through ROFO and partnership to drive accretive growth opportunities Further Adjusted EBITDA including unconsolidated affiliates includes our share in EBITDA of unconsolidated affiliates and the dividend compensation from our preferred equity investment in Brazil in the three-month period ended March 31, 2017. (see reconciliation on page 27)Timing of closing refers to public information disclosed by Algonquin. Effectiveness is subject to the closing of the transaction. Atlantica cannot guarantee that closing will occur, since it is not a party to the sale of shares from Abengoa to Algonquin.

1. Financial Results 2. Strategic Update AGENDA 3. Q&A Appendix

1. Financial Results

HIGHLIGHTSStrong Results in the First Quarter 2018 Further Adjusted EBITDA including unconsolidated affiliates includes our share in EBITDA of unconsolidated affiliates and the dividend compensation from our preferred equity investment in Brazil in the three-month period ended March 31, 2017. (see reconciliation on page 27)CAFD includes $10.4 million of ACBH dividend compensation in the three-month period ended March 31, 2017. Q1 2017 198.1 165.0 83% 60.9 ∆ +14% +9% Revenue Further Adjusted EBITDA incl. unconsolidated affiliates1 Margin Q1 2018 225.3 179.8 80% (29%) CAFD 43.0 US $ in millions 2

HIGHLIGHTSSolid Overall Results Average exchange rates for Q1 2018: (EUR/USD = 1.2336). Average exchange rates for Q1 2017: (EUR/USD = 1.0687). Further Adjusted EBITDA including unconsolidated affiliates includes our share in EBITDA of unconsolidated affiliates and the dividend compensation from our preferred equity investment in Brazil in the three-month period ended March 31, 2017. (see reconciliation on page 27) US $ in millions 1 Revenue Further Adjusted EBITDA incl. unconsolidated affiliates2 Q1 2018 61.8 Q1 2017 ∆ 61.0 1% 60.2 54.8 10% 167.2 131.4 Revenue Q1 2018 29.5 Q1 2017 ∆ 28.5 4% SOUTH AMERICA 24.2 33.8 (28%) Q1 2018 133.9 Q1 2017 ∆ 108.6 23% 95.4 76.5 25% Q1 2018 137.6 102.6 Q1 2017 21% 28% ∆ 28.4 23.3 Q1 2018 29.8 26.7 Q1 2017 (5%) (13%) ∆ 23.8 19.8 Q1 2018 24.2 30.5 Q1 2017 (1%) (35%) ∆ 5.8 5.2 Q1 2018 6.5 5.3 Q1 2017 (11%) (1%) ∆ EMEA NORTH AMERICA RENEWABLES EFFICIENT NATURAL GAS TRANSMISSION WATER Further Adjusted EBITDA incl. unconsolidated affiliates2 Margin Margin 98% 90% 82% 118% 71% 70% 79% 75% 82% 90% 83% 126% 89% 81 % US $ in millions 1

KEY OPERATIONAL METRICSRobust and Steady Overall Performance Includes curtailment in wind assets for which we received compensation.Represents total installed capacity in assets owned at the end of the period, regardless of our percentage of ownership in each of the assetsElectric availability refers to operational MW over contracted MW with PemexAvailability refers to actual availability divided by contracted availability GWh produced Q1 2018 507 Q1 2017 460 GWh produced Electric availability Q1 2018 547 Q1 2017 591 97.9% 99.8% Availability Q1 2018 Q1 2017 100.0% 94.4% Availability Q1 2018 99.1% Q1 2017 102.5% RENEWABLES TRANSMISSION WATER EFFICIENT NATURAL GAS MW in operation 300 300 Mft3 in operation 10.5 10.5 Miles in operation 1,099 1,099 MW in operation 1,446 1,442 2 4 4 3 2 1

OPERATING CASH FLOW CASH FLOWStrong Operating Cash Flow Net change in consolidated cash US $ in millions Q1 2018 Q1 2017 Further Adjusted EBITDA incl. unconsolidated affiliates1 Share in EBITDA of unconsolidated affiliates Interest and income tax paid Variations in working capital Non monetary adjustments and other INVESTING CASH FLOW FINANCING CASH FLOW Further Adjusted EBITDA including unconsolidated affiliates includes our share in EBITDA of unconsolidated affiliates and the dividend compensation from our preferred equity investment in Brazil in the three-month period ended March 31, 2017. (see reconciliation on page 27) +51% (1.1) 165.0 (26.6) (22.3) (58.8) (36.2) (8.6) (28.7) 86.4 (1.8) 179.8 (26.8) (11.7) 130.5 (9.0) 47.5 (101.2) 76.9

FINANCIAL UPDATEFinancial Update Quarterly Dividend Increased to $0.32 per share  Quarterly dividend of $0.32 per share declared by the Board of Directors28% increase compared with the first quarter of 2017 RCF Refinancing for $215 million, with maturity in December 2021  Replaces the current $125 million RCF maturing in December 2018Interest at Libor + 1.60% to 1.75% range, assuming our corporate debt target Lowering our Cost of Debt: ~100 basis points lower than the previous RCF

2. Strategic Update

CASH FLOW VISIBILITYStrong Cash Flow Generation Best in class CAFD before debt repayment yield FY 2016 FY 2017 2018 Guidance Further Adjusted EBITDA incl. Unconsolidated affiliates 772.1 786.6 770-820 Principal repayments (project level) (182.6) (209.7)1 (220)-(230)1 Cash Available For Distribution (CAFD) 171.2 170.6 Yield 2 170-190 Yield 2 CAFD before debt repayments 353.8 380.3 18.9% 390-420 20.1% US $ in millions Excludes Solana project debt repayments with proceeds received from Abengoa. $42.5M in December 2017 and $52.5M in March 2018.Yield metrics based on share prices as of May 11, 2018 and midpoint guidance (3) Represent weighted average years remaining as of December 31, 2017. Over 25 years of Cash flow visibility, with tails in most assets once debt is amortized PeersBased on FY 17 Yield range 2 11 – 17% Possibility to extend contracted life Long-term CAFD profile of existing portfolio assuming no re-contracting 19 years of weighted average contracted life remaining 3

STRATEGIC UPDATEStrong Commitment from Algonquin with Solid Interest Alignment Timing of closing refers to public information disclosed by Algonquin. Effectiveness is subject to the closing of the transaction. Atlantica cannot guarantee that closing will occur, since it is not a party to the sale of shares from Abengoa to Algonquin. Purchase of 25% stake closed in Q1 2018 Agreement reached to acquire additional 16.5% with closing expected in Q2 or Q3 20181Industrial sponsor with solid industry expertise and investment grade rating New Strong Shareholder New Access to Growth Shareholders Agreement with Algonquin ROFO agreement signed with AAGESAnalyzing potential opportunities in North America Maintains Atlantica’s strong corporate governanceAlgonquin to lead future accretive capital increases 1 2 3

STRATEGIC UPDATEATN3, the First Project to be Developed by AAGES 220-mile 220 kV electric transmission concessional project in Peru 30-year PPA in US dollars100% stakePeruvian Ministry of Energy as off-taker (BBB+/A3 credit rating)Potential acquisition once it reaches commercial operationSynergies with existing Atlantica assets in Peru Right of First Offer under the AAGES ROFO Agreement AAGES has secured an exclusivity arrangement with the project lenders to negotiate the necessary agreements to acquire the project

STRATEGIC UPDATE8-10% DPS Growth Target 2022 DPS target Existing portfolio growth 2018 2022 Accretive Investments 8 -10%CAGR Strong Balance Sheet to Capture OpportunitiesCurrent liquidity on hand20% of yearly CAFDPossibility to use corporate debt and/or capital increases while maintaining always the internal corporate leverage ratio of <3x Accretive Investment OpportunitiesExisting ROFONew ROFO with AAGES/AlgonquinThird partySeveral very advanced opportunities Early 2018 DPS

3. Q&A

Appendix

RECONCILIATIONSolid CAFD and Cash Generation Further Adjusted EBITDA including unconsolidated affiliates includes our share in EBITDA of unconsolidated affiliates and the dividend from our preferred equity investment in Brazil or its compensation (see reconciliation on page 27) (3) CAFD includes $10.4 million of ACBH dividend compensation in the three-month period ended March 31, 2017 (2) Excludes Solana debt repayment with proceeds received from Abengoa. $52.5M in March 2018, included in Change in non-restricted cash at project companies. CASH GENERATED US $ in millions Q1 2018 Q1 2017 (1.1) (1.8) Share in EBITDA of unconsolidated affiliates Interest and income tax paid Change in other assets and liabilities Principal amortization of indebtedness Further Adjusted EBITDA incl. unconsolidated affiliates1 165.0 179.8 (26.6) (26.8) (23.1) 8.0 (21.5) (17.7) 88.2 111.0 Deposits in/withdrawals from restricted accounts 7.5 (21.7) (12.0) (8.8) Non-monetary adjustments Change in non-restricted cash at project companies (27.3) (68.0) CAFD 60.9 43.0 3 +26% 2

As of Dec. 31,2017 As of Mar. 31,2018 151.4 71.0 148.5 71.0 As of Dec. 31,2017 FINANCINGConservative Leverage at Holding Company Level Net corporate debt / CAFD pre corporate debt service3 2.3x Exchange rates as of March 31, 2018: (EUR/USD = 1.2324). Exchange rates as of December 31, 2017: (EUR/USD = 1.2005). Net debt corresponds to gross debt including accrued interest less cash and cash equivalentsBased on midpoint CAFD guidance pre corporate debt service for the year 2018 As of Mar. 31,2018 In $ millions1 505.9 Net Project Debt2 4,929.3 DEBT POSITION Net Corporate Debt2 494.6 4,954.3 CORPORATE CASH Corporate Cash at Atlantica Yield Available Revolver Capacity Total Corporate Liquidity 222.4 219.5 In $ millions1

As of Dec

FINANCINGNet Debt Bridge Operating cash flow before interest paid 5,448.9 159.9 26.8 Net interest and income tax paid Operations1 In $ millions MAR 31, 2018 DEC 31, 2017 Acquisitions Dividends paid FX translation differences Accrued interest and other Abengoa proceeds for Solana debt repayment and other 9.8 31.1 1.5 5,435.2 92.8 103.9 Net debt as of Net debt as of 77.5 Proceeds from Abengoa Instruments IFRS 9 impact 39.2 5,342.4

SELF AMORTIZING PROJECT DEBT STRUCTURE PROJECT DEBT Project debt self-amortizing progressively before the end of the contracted life 100% +90% of interest rates fixed or hedged $5,475 $4,123 +$1.3B reduction in the next 5 years CORPORATE DEBT Conservative corporate leverage compared to peersNet corporate debt represents less than 10% of total net debtNet corporate debt internal target < 3x CAFD before corporate interest FINANCINGPrudent Financing Policy

HISTORICAL FINANCIAL REVIEWKey Financials by Quarter FY 2015 1Q16 2Q16 3Q16 4Q16 FY 2016 1Q17 2Q17 3Q17 4Q17 FY 2017 1Q18 Revenues 790,881 206,376 261,302 295,272 208,847 971,797 198,146 285,069 291,964 233,202 1,008,381 225,265 F.A. EBITDA margin (%) 80.5% 75.0% 79.5% 89.5% 69.6% 79.5% 83.3% 79.9% 80.9% 67.5% 78.0% 79.8% Further Adj. EBITDA incl. unconsolidated affiliates 636,510 154,879 207,645 264,262 145,326 772,112 165,049 227,841 236,252 157,433 786,575 179,800 Atlantica Yield’s pro-rata share of EBITDA from unconsolidated affiliates (12,291) (2,332) (2,193) (2,157) (2,120) (8,802) (1,100) (2,064) (2,052) (2,049) (7,265) (1,832) Further Adjusted EBITDA 624,219 152,547 205,452 262,105 143,206 763,310 163,949 225,777 234,200 155,384 779,310 177,968 Dividends from unconsolidated affiliates 4,417 - 4,984 - - 4,984 - - 2,454 549 3,003 - Non-monetary items (91,410) (18,356) (12,563) (11,508) (16,948) (59,375) (12,025) (10.758) (13,005) 14,906 (20,882) (8,839) Interest and income tax paid (310,234) (27,613) (137,371) (27,183) (141,890) (334,057) (26,610) (143,081) (28,976) (150,866) (349,533) (26,760) Principal amortization of indebtedness net of new indebtedness at project level (175,389) (14,254) (53,851) (18,792) (95,739) (182,636) (21,522) (54,528) (20,330) (113,362)* (209,742) * (17,647) Deposits into/withdrawals from debt service accounts (16,837) (34,155) 12,291 (43,027) 18,186 (46,705) 7,557 (8,157) (26,581) (1,205) (28,386) (21,720) Change in non-restricted cash at project companies 72,217 (41,089) 59,969 (90,385) 112,918 41,413 (27,293) 66,886 (143,982) 83,397 (20,992) (68,031) Dividends paid to non-controlling interests (8,307) - (5,479) (3,473) - (8,952) - (1,801) (2,837) - (4,638) - Changes in other assets and liabilities 79,821 (13,237) (33,824) (13,957) 39,325 (21,694) (23,184) (39,756) 35,747 49,621 22,428 8,060 Asset refinancing - 14,893 - - - 14,893 - - - - - - Cash Available For Distribution (CAFD) 178,496 18,736. . 39,607 53,780 . 59,058 171,181 60,872 34,582 36,690 38,424 170,568 43,031 Dividends declared1 117,254 - 29,063 16,335 25,054 70,452 25,054 26,056 29,063 31,067 111,241 32,070 # of shares at the end of the period 100,217,260 100,217,260 100,217,260 100,217,260 100,217,260 100,217,260 100,217,260 100,217,260 100,217,260 100,217,260 100,217,260 100,217,260 DPS (in $ per share) 1.170 - 0.290 0.163 0.250 0.703 0.250 0.260 0.290 0.310 1.110 0.32 Project debt 5,470.7 5,666.8 5,512.1 5,612.9 5,330.5 5,330.5 5,410.3 5,474.1 5,579.5 5,475.2 5,475.2 5,533.8 Project cash (469.2) (529.4) (469.7) (587.6) (472.6) (472.6) (487.4) (435.4) (597.0) (520.9) (520.9) (604.5) Net project debt 5,001.5 5,137.4 5,042.4 5,025.3 4,857.9 4,857.9 4,922.9 5,038.7 4,982.5 4,954.3 4,954.3 4,929.3 Corporate debt 664.5 669.9 666.3 671.6 668.2 668.2 667.9 684.6 700.9 643.1 643.1 657.3 Corporate cash (45.5) (45.4) (84.9) (85.8) (122.2) (122.2) (102.0) (178.9) (197.1) (148.5) (148.5) (151.4) Net corporate debt 619.0 624.5 581.4 585.8 546.0 546.0 565.9 505.7 503.8 494.6 494.6 505.9 Total net debt 5,620.5 5,761.9 5,623.8 5,611.2 5,403.8 5,403.8 5,488.8 5,544.4 5,486.3 5,448.9 5,448.9 5,435.2 Net Corporate Debt/CAFD pre corporate interests2 2.9x 2.9x 2.7x 2.7x 2.7x 2.7x 2.6x 2.3x 2.3x 2.3x 2.3x 2.3x Dividends are paid to shareholders in the quarter after they are declaredRatios presented are the ratios shown on each earnings presentationsIncludes the impact of a one-time partial refinancing of ATN2 Debt details Key Financials US $ in thousands US $ in millions (3) Dividend declared on August 3 2016 is the sum of $0.145 per share corresponding to the first quarter of 2016 and $0.145 per share corresponding to the second quarter of 2016 (4) (5) (5) (5) (5) Includes compensation from our preferred equity investment in Brazil ($21.2M in Q3 2016, $6.8M in Q4 2016 and $10.4M in Q1 2017)(6) Excludes Solana debt repayments with proceeds received from Abengoa. $52.5M in March 2018 and $42.5M in December 2017. (6) (6)

HISTORICAL FINANCIAL REVIEWSegment Financials by Quarter FY 2015 1Q16 2Q16 3Q16 4Q16 FY 2016 1Q17 2Q17 3Q17 4Q17 FY 2017 1Q18 by Geography NORTH AMERICA 328,139 65,232 100,617 109,491 61,722 337,061 60,952 109,505 99,580 62,668 332,705 61,781 SOUTH AMERICA 112,480 29,008 28,973 30,183 30,599 118,763 28,527 30,161 31,317 30,792 120,797 29,536 EMEA 350,262 112,135 131,712 155,598 116,527 515,973 108,667 145,403 161,067 139,742 554,879 133,948 by Business Sector RENEWABLES 543,012 141,166 201,246 235,844 146,070 724,326 137,664 225,939 230,872 172,751 767,226 167,225 EFFICIENT NATURAL GAS 138,717 35,179 30,289 29,452 33,126 128,046 29,800 29,614 30,240 30,130 119,784 28,387 TRANSMISSION 86,393 23,530 23,383 23,822 24,402 95,137 24,165 23,452 23,447 24,032 95,096 23,840 WATER 22,759 6,501 6,384 6,154 5,249 24,288 6,517 6,064 7,405 6,289 26,275 5,813 Total Revenue 790,881 206,376 261,302 295,272 208,848 971,797 198,146 285,069 291,964 233,202 1,008,381 225,265 FY 2015 1Q16 2Q16 3Q16 4Q16 FY 2016 1Q17 2Q17 3Q17 4Q17 FY 2017 1Q18 by Geography NORTH AMERICA 279,559 51,212 89,959 103,049 40,470 284,690 54,753 97,033 91,503 39,039 282,328 60,247 85.2% 78.5% 89.4% 94.1% 65.6% 84.5% 89.8% 88.6% 91.9% 62.3% 84.9% 97.5% SOUTH AMERICA1 110,905 24,062 23,996 45,496 31,046 124,599 33,757 24,858 25,560 24,591 108,766 24,180 98.6% 82.9% 82.8% 150.7% 101.5% 104.9% 118.3% 82.4% 81.6% 79.9% 90.0% 81.9% EMEA 246,046 79,605 93,690 115,718 73,810 362,823 76,539 105,951 119,190 93,801 395,481 95,373 70.2% 71.0% 71.1% 74.4% 63.3% 70.3% 70.0% 72.9% 74.0% 67.1% 71.3% 71.2% by Business Sector RENEWABLES 417,157 102,170 155,253 191,570 89,435 538,427 102,625 176,638 183,344 106,586 569,193 131,434 76.8% 72.4% 77.1% 81.2% 61.2% 74.3% 74.5% 78.2% 79.4% 61.7% 74.2% 78.6% EFFICIENT NATURAL GAS 107,671 27,079 26,655 26,390 26,367 106,492 26,716 26,126 27,128 26,170 106,140 23,330 77.6% 77.0% 88.0% 89.6% 79.6% 83.2% 89.7% 88.2% 89.7% 86.9% 88.6% 82.2% TRANSMISSION1 89,047 19,410 19,948 40,551 24,886 104,795 30,459 19,373 18,817 19,046 87,695 19,837 103.1% 82.5% 85.3% 170.2% 102.0% 110.2% 126.0% 82.6% 80.3% 79.2% 92.2% 83.2% WATER 22,635 6,220 5,789 5,751 4,638 22,398 5,249 5.705 6,964 5,629 23,547 5,199 99.5% 95.7% 90.7% 93.5% 88.3% 92.2% 80.5% 94.0% 94.0% 89.5% 89.6% 89.4% Total Further Adj. EBITDA incl. unconsolidated affiliates1 636,510 154,879 207,645 264,262 145,325 772,112 165,049 227,842 236,253 157,431 786,575 179,800 80.5% 75.0% 79.5% 89.5% 69.6% 79.5% 83.3% 79.9% 80.9% 67.5% 78.0% 79.8% US $ in thousands Revenue Further Adj. EBITDA incl. unconsolidated affiliates Further Adjusted EBITDA includes our share in EBITDA of unconsolidated affiliates and the dividend from our preferred equity investment in Brazil or its compensation $21.2M in Q3 2016, $6.8M in Q4 2016 and $10.4M in Q1 2017)

FY 2015 1Q16 2Q16 3Q16 4Q16 FY 2016 1Q17 2Q17 3Q17 4Q17 FY 2017 1Q18 RENEWABLES (MW) 1,441 1,441 1,441 1,442 1,442 1,442 1,442 1,442 1,442 1,442 1,442 1,446 EFFICIENT NATURAL GAS (electric MW) 300 300 300 300 300 300 300 300 300 300 300 300 TRANSMISSION (Miles) 1,099 1,099 1,099 1,099 1,099 1,099 1,099 1,099 1,099 1,099 1,099 1,099 WATER (Mft3/day) 10.5 10.5 10.5 10.5 10.5 10.5 10.5 10.5 10.5 10.5 10.5 10.5 RENEWABLES2 (GWh) 2,536 514 974 1,098 501 3,087 460 1,100 1,017 590 3,167 507 (GWh) 2,465 529 621 649 617 2,416 591 580 615 585 2,372 547 (electric availability %) 101.7% 87.5% 102.5% 103.5% 103.3% 99.1% 99.8% 99.8% 101.6% 100.9% 100.5% 97.9% TRANSMISSION (availability %) 99.9% 99.9% 99.9% 99.9% 100.0% 100.0% 94.4% 98.8% 99.2% 99.2% 97.9% 100.0% WATER (availability %) 101.5% 101.5% 102.7% 102.9% 100.2% 101.8% 102.3% 101.9% 102.6% 100.4% 101.8% 99.1% EFFICIENT NATURAL GAS 3 Capacity in operation1(at the end of the period) Production / Availability HISTORICAL FINANCIAL REVIEWKey Performance Indicators 4 5 6 Represents total installed capacity in assets owned at the end of the period, regardless of our percentage of ownership in each of the assetsIncludes curtailment in wind assets for which we receive compensationEfficient Natural Gas production and availability were impacted by a scheduled major maintenance in February 2016, which occurs periodicallyElectric availability refers to operational MW over contracted MW with PemexAvailability refers to actual availability adjusted as per contractAvailability refers to actual availability divided by contracted availability

FY 2015 1Q16 2Q16 3Q16 4Q16 FY 2016 1Q17 2Q17 3Q17 4Q17 FY 2017 1Q18 US 24.9% 17.3% 36.4% 33.5% 16.0% 25.8% 18.1% 41.9% 29.5% 18.2% 27.0% 18.8% Spain 21.0% 9.5% 27.0% 35.4% 9.9% 20.4% 10.0% 31.0% 33.4% 12.6% 21.8% 8.8% Kaxu 29.3%2 42.2% 25.8% 33.2% 34.3% 33.9% 15.9% 20.9% 21.4% 41.1% 24.9% 36.9% WIND3 Uruguay 35.8% 31.6% 32.2% 35.9% 34.9% 33.7% 27.8% 36.1% 46.1% 37.7% 37.0% 31.2% SOLAR Historical Capacity Factors1 HISTORICAL FINANCIAL REVIEWCapacity Factors Capacity factor ratio represents actual electrical energy output over a given period of time to the maximum possible electrical energy output assuming continuous operation at full nameplate capacity over that period. Historical Capacity Factors are calculated from the date of entry into operation or the acquisition of each asset. Some capacity factors are not indicative of a full period of operationsAverage capacity factor in Kaxu for 2015 calculated from August 1, 2015 Includes curtailment production in wind assets for which we receive compensation

CORPORATE DEBT DETAILSCorporate Debt as of March 31, 2018 US $ in millions2 2019 Notes Credit Facilities Maturity 2019 Amounts1 261.1 Total 657.3 2018 53.8 Note Issuance Facility in Euros (Note 1) (Note 2) (Note 3) 2022 110.5 2023 109.8 2024 109.8 (1) Amounts include principal amounts outstanding and interests to be paid in the short term.Exchange rates as of March 31, 2018: (EUR/USD = 1.2324) On May 10, 2018, we signed a new Revolving Credit Agreement with a syndicate of banks in the amount of $215 million. The agreement, once effective, will replace the current Tranche A Revolving Credit Facility ahead of its maturity of December 2018. 2018 12.3 (Other facilities) (Tranche A) 3

RECONCILIATIONReconciliation of Further Adjusted EBITDA including unconsolidated affiliates to Profit/(loss) for the period Q1 2018 Q1 2017 (2.6) 3.3 (11.8) (4.8) (4.5) 4.7 (0.7) 96.3 101.6 237.3 76.8 74.6 1.1 1.8 (1.4) 323.4 US $ in millions Profit/(loss) for the period attributable to the Company Profit/(loss) attributable to non-controlling interest Income tax Share of loss/(profit) of associates carried under the equity method Financial expense, net 179.8 165.0 Further Adjusted EBITDAincl. unconsolidated affiliates 76.7 103.4 Operating Profit Depreciation, amortization, and impairment charges Atlantica Yield’s pro-rata share of EBITDA from unconsolidated affiliates Further Adjusted EBITDA 163.9 178.0 10.4 - Dividend from exchangeable preferred equity investment in ACBH or its compensation

SIZEABLE AND DIVERSIFIED ASSET PORTFOLIOPortfolio Breakdown1 CURRENCY2 SECTOR GEOGRAPHY All amounts based on CAFD estimations for the next three years and assumes no acquisitions Including the effect of currency swap agreements of long term interest rate in projects is fixed or hedged ~ 90% 90 Denominatedin USD % 35% North America45% Europe9% South America11% RoW 73% Renewable16% Efficient Natural Gas 8% Transmission 3% Water +

ASSET TYPE STAKE LOCATION GROSSCAPACITY OFFTAKER RATING 1 YEARS INCONTRACT LEFT CCV RENEWABLE ENERGY Solana 100% (2) USA (Arizona) 280 MW APS A-/A3/A- 26 USD Mojave 100% USA (California) 280 MW PG&E BBB+/Baa1/BBB+ 22 USD Solaben 2/3 70% Spain 2x50 MW Kingdom of Spain A-/Baa1/A- 20/19 EUR (4) Solacor 1/2 87% Spain 2x50 MW Kingdom of Spain A-/Baa1/A- 19 EUR (4) PS 10/20 100% Spain 31 MW Kingdom of Spain A-/Baa1/A- 14/16 EUR (4) Helioenergy 1/2 100% Spain 2x50 MW Kingdom of Spain A-/Baa1/A- 19 EUR (4) Helios 1/2 100% Spain 2x50 MW Kingdom of Spain A-/Baa1/A- 20 EUR (4) Solnova 1/3/4 100% Spain 3x50 MW Kingdom of Spain A-/Baa1/A- 17/17/18 EUR (4) Solaben 1/6 100% Spain 2x50 MW Kingdom of Spain A-/Baa1/A- 21 EUR (4) Seville PV 80% Spain 1 MW Kingdom of Spain A-/Baa1/A- 18 EUR Kaxu 51% South Africa 100 MW Eskom BB/Baa3/BB+ (3) 17 ZAR Palmatir 100% Uruguay 50 MW UTE BBB/Baa2/BBB- (3) 16 USD Cadonal 100% Uruguay 50 MW UTE BBB/Baa2/BBB- (3) 17 USD Mini-Hydro 100% Peru 4 MW Peru BBB+/A3/BBB+ 15 USD EFFICIENT NATURAL GAS ACT 100% Mexico 300 MW Pemex BBB+/Baa3/BBB+ 15 USD (5) ELECTRICAL TRANSMISSION ATN 100% Peru 362 miles Peru BBB+/A3/BBB+ 23 USD (5) ATS 100% Peru 569 miles Peru BBB+/A3/BBB+ 26 USD (5) ATN 2 100% Peru 81 miles Minera Las Bambas Not rated 15 USD (5) Quadra 1&2 100% Chile 81 miles Sierra Gorda Not rated 17 USD (5) Palmucho 100% Chile 6 miles Enel Generacion Chile BBB+/Baa2/BBB+ 20 USD (5) WATER Skikda 34% Algeria 3.5 Mft3/day Sonatrach & ADE Not rated 16 USD (5) Honaine 26% Algeria 7 Mft3/day Sonatrach & ADE Not rated 20 USD (5) Reflects the counterparty’s issuer credit ratings issued by S&P, Moody’s and Fitch, respectively.Liberty Interactive Corporation holds $300M in Class A membership interests in exchange for a share of the dividends and the taxable loss generated by Solana.For Kaxu it refers to the credit rating of the Republic of South Africa, and for Palmatir and Cadonal it refers to the credit rating of Uruguay, as UTE is unrated.Gross cash in Euros dollarized through currency hedges.USD denominated but payable in local currency. AT A GLANCESizeable and Diversified Asset Portfolio

Great West House, GW1, 17th Floor,Great West RoadBrentford TW8 9DFLondon (United Kingdom)

	ATLANTICA YIELD PLC

Date: May 14, 2018		/s/ Santiago Seage
		Name:	Santiago Seage
		Title:	Chief Executive Officer