Mota-Engil

Interim / Quarterly Report • Aug 30, 2017

HIGHLIGHTS

Turnover up 15%, year on year, to 1,196 million euros, mainly reflecting strong growth in Latin America, and also signs of Africa picking up

• EBITDA up 25% and margin reached 16% with all regions presenting a robust operating performance

• Healthy backlog up to 4.9 billion euros in June, up circa 450 million euros from December 2016

• Net debt down 139 million euros in the first half of 2017 to 1 billion euros, representing 2.7x net debt/EBITDA

Current backlog and strong commercial activity ensures a positive outlook for the second half of the year, mainly in Africa and Latam

					thousand euros
	1H17	% T		1H16 restated	% T
Turnover	1,195,645		15.4%	1,035,641
EBITDA	186,362	15.6%	25.2%	148,858	14.4%
Amortizations, provisions and impairment losses	‐88,918	(7.4%)	17.6%	‐107,881	(10.4%)
EBIT	97,444	8.1%	137.8%	40,977	4.0%
Net financial results	‐47,151	(3.9%)	(57.7%)	‐29,902	(2.9%)
Gains/(losses) in associates	1,040	0.1%	(22.0%)	1,333	0.1%
Gains/(losses) in the disposal of subsidiaries, associates and jointly controlled companies	0	0.0%	(100.0%)	76,642	7.4%
Income before taxes	51,332	4.3%	(42.4%)	89,050	8.6%
Net income	39,520	3.3%	(48.8%)	77,260	7.5%
Attributable to:
Non‐controlling interests	34,906	2.9%	565.6%	5,245	0.5%
Group	4,614	0.4%	(93.6%)	72,015	7.0%

EBITDA corresponds to the algebraic sum of the following captions of the consolidated income statement: "Sales and services rendered"+ "Cost of goods sold, mat. cons., changes in production and Subcontractors" + "Third‐party

supplies and services" + "Wages and salaries" + "Other operating income / (expenses)"

The accounts included in this interim Report have not been audited.

INDEX

Highlights	2
Interim Consolidated Management Report	4
Financial analysis	4
Business segments	8
Stock price and dividends	12
Interim Consolidated Financial Accounts	13
Consolidated income statements	15
Consolidated income and other comprehensive income statements	16
Consolidated statements of financial position	17
Consolidated statements of changes in equity	18
Consolidated statements of cash flows	20
Notes to the consolidated financial statements	21
Mandatory information	43

1. Financial analysis

Turnover in the first half of 2017 reached 1,196 million euros, which represented an increase of 15% when compared with the same period of 2016. Regarding this matter, it should be highlighted the increase of 37% of the turnover in Latin America and of 4% in Africa, which more than compensated the decrease of activity in Europe (7%), this one influenced, essentially, by the contribution of the Ports and Logistics Businesses, before its sale, in the first two months of 2016 (28 million euros).

In the first half of 2017, Latin America was the region with the highest contribution to the GROUP'S turnover (39%), achieving an increase of 6pp when compared with the same period of 2016, driven by the already expected increase of its activity as a result of the execution of the high backlog that the GROUP has in that region. Consequently, Africa region, despite having achieved growth compared to the same period of 2016, reduced to 29% its contribution to the GROUP's turnover (32% at June 30, 2016), having Europe only contributed with 32% (35% at June 30, 2016), of which 19% in the Engineering & Construction (E&C) division, which compare with 18% in the first half of 2016 and 13% in the Environment and Services (A&S) division.

(*) Includes others and intra‐group eliminations

In the first half of 2017, the GROUP's EBITDA increased 25% to 186 million euros, positively impacted by the activity in Africa and in Latin America, as well as, by the recovery, in profitability, of the activity in Europe. On the other hand, the EBITDA margin in the first half reached 16%, once again achieving the levels of profitability estimated in the GROUP's Strategic Plan.

Likewise, in that period, the EBIT(*) increased 138% to 97 million euros, influenced by the increase in EBITDA, as well as by the reduction of provisions and impairment losses, thus correcting from the significant reduction that had occurred in the two previous semesters.

As a result of an higher optimization in the usage of resources and a more effective control over CAPEX, this one in the first half amounted to 24 million euros, which represented a decrease of 13 million euros when compared with the same period of 2016. It is worth to highlight that a significant amount of CAPEX was allocated to EGF companies and to the GROUP companies that operate in Angola and Mexico. Nevertheless, it is expected an increase in CAPEX in the second half of the year, as a result of the execution of the CAPEX approved by the regulator in the EGF companies and the awarding of several new major contracts in Africa.

(*) EBIT corresponds to EBITDA deducted from the following captions of the consolidated income statement: "Amortizations" and "Provisions and impairment losses"

At June 30, 2017, net debt (*) amounted to 1,020 million euros, down 139 million euros when compared to December 31, 2016, driven mainly by the cash‐in arising from the sale of certain assets of LINEAS (formerly denominated as ASCENDI) and due to the efficient management of working capital.

On the other hand, it should be highlighted that from the total net debt 92 million euros, representing 9% of the total, corresponds to non‐recourse debt of EGF.

As a result of the debt evolution and the operational performance in the first half, the total net debt to EBITDA of the last 12 months ratio reached 2.7x (3.4x at December 31, 2016), following a downward trajectory in line with the defined strategic goals.

The gross debt (**) at June 30, 2017 amounted to 1,642 million euros, of which 68% contracted at floating rates. The average cost of debt increased from 5.6% at December 31, 2016 to 5.8% at June 30, 2017, as a result, essentially, from the higher weight of the debt contracted outside Europe, particularly in Latin America and in Africa. At June 30, 2017, 77% of the total gross debt was denominated in euros and presented an average life of 2.2 years (2.5 years at December 31, 2016).

At June 30, 2017, the GROUP had available credit lines not in used the amount of 184 million euros, resulting in a total effective amount of liquidity of 805 million euros (amount that corresponds to circa 50% of total gross debt and to 1.6x non‐revolving financing needs with a maturity less than 1 year).

Furthermore, after June 30, 2017, the GROUP already refinanced circa 110 million euros and will conclude in short term the refinancing of 246 million euros.

In the first half of 2017, net financial results reached 47.2 million euros (29.9 million euros in the first half of 2016), which represented an increase of circa 17.3 million euros, justified, essentially, by the reduction occurred in the favourable exchange differences (1.3 million euros in the first half of 2017 and 20.4 million euros in the first half of 2016).

(*) net debt corresponds to the algebraic sum of the following captions of the consolidated statement of financial position: "Cash and cash equivalents with recourse ‐ term deposits"; "Cash and cash equivalents without recourse ‐ demand deposits"; "Cash and cash equivalents with recourse ‐ demand deposits"; "Loans without recourse"; "Loans with recourse" and the Angola´s bonds held by the Africa region recorded in the caption "Available for sale and held to maturity financial assets". It is worth to highlight that the leasing and factoring operations established by the Group are not recorded in the captions aforementioned.

(**) gross debt corresponds to net debt added by the cash and cash equivalents balances recorded in the consolidated statement of financial position and the Angola´s bonds held by the Africa region recorded in the caption "Available for sale and held to maturity financial assets".

Million Euros

(*) includes the Net financial results and the Gains/(losses) in the disposal of subsidiaries, associates and jointly controlled companies (**) includes approximately 77 million euros regarding the disposal of the Ports and Logistic Businesses and INDAQUA EM – corresponds to the caption "Gains/(losses) in associates and jointly controlled companies"

The captions EM and Tax in the first half of 2017 and 2016 evidence a very similar behavior. With regard to non‐ controlling interests (MI), in the first half of 2017 those increased circa 30 million euros, mainly justified by the performance improvement of some Angolan and Mexican companies.

In the first half of 2017, as a result of the aforementioned operational and financial performance, net margin reached 0.4%, with the net income attributable to the GROUP amounting to 4.6 million euros (72.0 million euros in the first half 2016). It should be noted, however, that in the first half of 2016 the GROUP recorded a capital gain of approximately 77 million euros with the disposal of the Ports and Logistics Businesses and of INDAQUA, which positively influenced the net result for that half year.

At June 30, 2017, the backlog amounted to approximately 4.9 billion euros, of which around 4 billion euros outside Europe which account 82% of the total. On the other hand, notwithstanding the economic challenging environment, particularly in Africa, the backlog in this region increased approximately 600 million euros, when compared to December 31, 2016, mainly in the E&C division, which revealed the GROUP's ability to win new projects, as well as the recognition of the MOTA‐ENGIL brand in new markets.

Thus, at June 30, 2017, the backlog / turnover (last 12 months) ratio of the E&C division amounted to 2.3 years (2.1 years at December 31, 2016).

As reported in the past, the GROUP does not consider in its backlog any predictable revenues arising from the contracts of waste treatment of EGF.

2. Business segments

Europe

‐2 ‐1 ‐2 151 169 152 ^{303 242 230} ‐20 80 180 280 380 480 2015 2016 2017 Turnover 1H17 E&C E&S Other Million Euros 454 410 380 21 50 56 23 ‐6 7 ‐10 20 50 80 2015 2016 2017 EBITDA 1H17 Other E&C E&S Million Euros 44 43 62

Europe region includes businesses and companies operating in the E&C and in the E&S owned by the GROUP, in Portugal and in Central Europe, or that are managed by this region's management structure. From 1 March 2016, after the disposal of the Ports and Logistics businesses, the E&S division is dedicated, essentially, to the waste collection activities (whose vehicle is SUMA), as well as, to the waste treatment and recovery activities (whose vehicle is EGF).

Turnover in Europe in the first half of 2017 reached 380 million euros, down approximately 30 million euros to the one achieved in the same period of 2016, justified, essentially, by the contribution that the Ports and Logistics Businesses apport in the first two months of 2016 (28 million euros) before their disposal. Regarding the E&C division turnover (230 million euros), this one continued to be affected, in particular by the decline of activity in the infrastructure sector in Portugal, which was not fully offset by the positive performance of the E&S business ‐ Waste.

Regarding the operational profitability, despite the turnover decrease, EBITDA reached 62 million euros, which represented an increase of 44% over the same period of last year (43 million euros). This positive evolution was felt both in the E&C division and in the E&S division and was also applicable to all relevant markets where the region operates (Portugal, Poland and Czech Republic). In this regard, it should be noted that the conclusion of some projects in Portugal with a better than expected margin partially justified the evolution of EBITDA in the E&C division.

In the first half of 2017, it is worth to highlight the increase in the turnover of E&S ‐ Waste area, as a result of the increase activity of EGF, which almost offset the decrease verified in the E&C division which continues to suffer from the slow recovery of the infrastructure sector in Portugal.

On the other hand, It is also important to highlight the increase of 12% in the EBITDA of the E&S ‐ Waste area, justified, essentially, by EGF's companies, and the strong increase of EBITDA in the E&C division by 13 million euros, justified partially by the fact described above.

The E&S area ‐ Other have now almost the exclusive contribution of MANVIA (in the first semester of 2016 still had two months of activity of the Ports and Logistics Businesses companies) which during the first half of 2017 evidenced an increase in its turnover of 21%, when compared with the same period of 2016. However, the increase in turnover has not yet been followed by an increase also in its operating profitability.

Africa

In the first half of 2017, the macroeconomic environment in Africa became more stable, namely in Angola, which allowed a slightly increase in the activity developed in that region. Thus, turnover in the first half of 2017 showed an increase of circa 14 million euros to 349 million euros.

However, this evolution was somewhat asymmetric, with Angola and Malawi increasing their activity by 66% and 48%, respectively, and Mozambique reducing it by 52%. In addition, it should be noted that the commercial effort and the geographical diversification strategy that the GROUP has been developing in the region are starting to be effective, and so this year were already awarded relevant projects of circa 500 million euros in three new markets (Tanzania, Guinea‐ Conakry and Cameroon).

This geographical diversification, but also the demand of balancing the different businesses (with strong growth in the business of the Waste segment) and customer typology, allow to anticipate a performance, in this important region, even more positive in the coming semesters.

Regarding the operational profitability, the EBITDA in the first half of 2017 reached 78 million euros, a similar amount to the one recorded in the same period of 2016, with the EBITDA margin remaining above 20% (22%). Also in this indicator, the region saw Angola and Malawi improving their profitability, while Mozambique faced a decrease, mainly justified by the volatility in its currency.

Latin America

In Latin America, as expected, the turnover in the first half of 2017 increase circa 37%, when compared with the same period of 2016, reaching 469 million euros. This increase was supported not only by the main markets in the region (Mexico and Brazil), but also by the new markets (Colombia and Aruba) which began in the semester to execute the several projects in their backlog. Notwithstanding, that increase was affected by the weaker execution pace of a road project in Mexico, named Gran Canal, which only recover its normal production levels in June / July 2017.

Regarding the electricity generation business, this one contributed with 31 million euros to the total turnover in the first half of 2017 (18 million euros in the first half of 2016).

Regarding the operational profitability, the EBITDA in the first half of 2017 increased 40%, when compared with the same period of 2016, to 38 million euros, once again influenced by the contribution of the main markets in the region (Mexico and Brazil).

As mentioned in Africa, the sustainability of the business growth and its profitability in Latin America is supported in an adequate geographic and business diversification which anticipates a sliding improvement in the operating margins and in the generation of cash‐flows in the coming semesters.

3. Stock price and dividends

In the first half of 2017, the Portuguese stock market index, PSI‐20, increase 10%, a trend also followed by the main European stock indexes, being that one characterized by a sustained appreciation throughout the semester. The positive performance was influenced by the favourable macroeconomic indicators of the Portuguese economy and the main economies of the Euro zone, in connection with the maintenance of an expansionary monetary policy by the European Central Bank and in a context where occurred a decrease in the political risk, namely after the Presidential elections in France. The European construction sector index also showed a positive performance, having increased 7% in the period.

MOTA‐ENGIL shares went up 51% in the first half of the year, having closed the period with a share price of 2.430 euros. During the first half of 2017, MOTA‐ENGIL shares reached a maximum and a minimum price of 2.734 euros and 1.567 euros, respectively. In the first half, circa 72 million MOTA‐ENGIL shares were traded on the Euronext Lisbon corresponding to an average daily volume of 563,000 shares.

At the General Shareholders' Meeting held at May 24, 2017 a dividend distribution per share of thirteen euro cents (0.13 euros) regarding the 2016 financial year was approved, which represented an overall amount of 30,875,668 euros and 33 cents.

Porto, August 30, 2017

Gonçalo Moura Martins Chief Executive Officer

José Pedro Freitas Chief Financial Officer

Consolidated income statements for the six months periods ended at June 30, 2017 and 2016

		1	st Half
	Notes	2017 € '000	2016 restated € '000
		(non audited)	(non audited)
Sales and services rendered	2	1,195,645	035,641 1,
Cost of goods sold, mat. cons., changes in production and Subcontractors		(466,120)	( 450,602)
Third‐party supplies and services		(298,302)	( 194,715)
Wages and salaries		(253,813)	269,602) (
Other operating income / (expenses)		8,951	28,136
Amortisations		(90,867)	(97,930)
Provisions and impairment losses		1,949	(9,950)
Financial income and gains	3	12,490	28,340
Financial costs and losses	3	(59,642)	(58,242)
Gains / (losses) in associates and jointly controlled companies		1,040	1,333
Gains / (losses) in the disposal of subsidiaries, associates and
jointly controlled companies		‐	76,642
Income before taxes		51,332	89,050
Income Tax		(11,812)	(11,790)
Consolidated net profit of the period		39,520	77,260
Attributable:
to non‐controlling interests		34,906	5,245
to the Group	4	4,614	72,015
Earnings per share:
basic	4	0.020 €	0.310 £
diluted	4	0.020 €	0.310 £
To be read wi th the Notes to the Consolida ted Financial Sta tements

15

Consolidated income and other comprehensive income statements for the six months periods ended at June 30, 2017 and 2016

	st Half 1
	2017 € '000	2016 restated € '000
	(non audited)	(non audited)
Consolidated net profit for the period	39,520	77,260
Items of other comprehensive income that may be reclassified to the income statement
Controlled companies
Exchange di fferences arising from the conversion of financial statements expressed in foreign currencies	(19,654)	(83,360)
Variation, net of tax, of the fair value of derivative financial instruments	37	9
Recycling of other comprehensive income to the income statement	‐	(6,058)
Other comprehensive income in controlled companies	1,953	1,470
Companies consolidated by the equity method
Exchange di fferences arising from the conversion of financial statements expressed in foreign currencies		(96) (686)
Variation, net of tax, of the fair value of derivative financial instruments	782	(2,162)
Recycling of other comprehensive income to the income statement	‐	10,649
Other comprehensive income in companies recorded under the equity method	(198)	(18)
Items of other comprehensive income that will not be reclassified to the income statement
Variation, net of tax, of the fair value of tangible fixed assets		(4,306) ‐
Total comprehensive income for the period	18,036	(2,897)
Attributable:
to non‐controlling interests	35,486	(12,592)
to the Group		(17,449) 9,695
To be read with the Notes to the Consolidated Financial Statements

Consolidated statements of financial position at June 30, 2017 and December 31, 2016

	Notes	2017 € '000	2016 € '000
		(non audited)	(audited)
Assets
Non‐current
Goodwill	5	39,039	39,830
Intangible assets		514,181	541,638
Tangible assets		638,308	692,858
Financial investments in associates and jointly controlled companies	6	128,784	122,369
Available for sale and held to maturity financial assets	7	208,36 9	131,568
Investment properties		74,534	75,789
Customers and other debtors		73,115	64,384
Other non‐current assets		794	726
Deferred tax assets		152,454	135,735
		1,829,579	1,804,896
Current
Inventories		287,539	304,960
Customers		700,616	775,115
Other debtors		276,457	206,391
Corporate income tax		13,654	19,875
Other current assets		566,416	426,961
Cash and cash equivalents with recourse ‐ Term deposits	8	‐	13,122
Cash and cash equivalents without recourse ‐ Demand deposits	8	84 ,889	86,754
Cash and cash equivalents with recourse ‐ Demand deposits	8	376,2 95	296,183
		2,305,866	2,129,362
Non‐current assets held for sale	10	149,168	286,446
Total Assets	2	4,284,614	4,220,704
Liabilities
Non‐current
Loans without recourse	9	145,898	155,875
Loans with recourse	9	753,659	837,398
Sundry creditors		125,980	168,289
Derivative financial instruments		711	759
Provisions		93,505	102,085
Other non‐current liabilities		165,098	177,838
Deferred tax liabilities		132,133	128,765
		1,416,984	1,571,009
Current
Loans without recourse	9	30,562	31,590
Loans with recourse	9	711,712	616,385
Suppliers		416,007	419,408
Sundry Creditors		569,396	514,909
Derivative financial instruments		‐	6
Corporate income tax		4,649	11,783
Other current liabilities		527,581	427,320
		2,259,907	2,021,402
Non‐current liabilities held for sale		57,703	57,703
Total Liabilities	2	3,734,593	3,650,114
Shareholders' equity
Share capital		237,505	237,505
Own shares		(5,788)	788) (5,
Reserves, retained earnings and share premiums		45,534	47,825
Consolidated net profit for the period/year		4,614	50,157
Own funds attributable to the Group		281,865	329,700
Non‐controlling interests		268,155	240,891
Total shareholders' equity		550,020	570,590
Total shareholders' equity and liabilities		4,284,614	4,220,704
To be read with the Notes to the Consolidated Financial Statements

Consolidated statements of for the six months periods ended

					Fair value reserves
	Share capital	Own shares	Share premiums	Available‐for‐sale investments	Lands assigned to quarrying operations	Derivatives
Balance as at January 1, 2016 (audited)	237,505	(3,084)	92,584	27,702	4,409	(139)
Restatement effects arising from the final determination of the purchase difference generated in the acquisition of the EGF Subgroup	‐	‐	‐	‐	‐	‐
Balance as at January 1, 2016, restated (audited)	237,505	(3,084)	92,584	27,702	4,409	(139)
Total comprehensive income for the period	‐	‐	‐	‐	‐	9
Dividend distribution	‐	‐	‐	‐	‐	‐
Acquisition of own shares	‐	(2,703)	‐	‐	‐	‐
Transfers to other reserves	‐	‐	‐	‐	‐	‐
Disposal of the Ports and Logistics businesses	‐	‐	‐	‐	‐	‐
Other acquisitions / disposals of non‐controlling interests	‐	‐	‐	‐	‐	‐
Balance as at June 30, 2016 (non audited)	237,505	(5,788)	92,584	27,702	4,409	(130)
Balance as at January 1, 2017 (audited)	237,505	(5,788)	92,584	27,702	3,581	(539)
Total comprehensive income for the period	‐	‐	‐	‐	(4,	153) 819
Dividend distribution	‐	‐	‐	‐	‐	‐
Transfers to other reserves	‐	‐	‐	‐	‐	‐
Other changes in the consolidation perimeter in controlled entities	‐	‐	‐	‐	‐	‐
Other acquisitions / disposals of non‐controlling interests	‐	‐	‐	‐	‐	‐
Balance as at June 30, 2017 (non audited)	237,505	(5,788)	92,584	27,702	(572)	280
To be read with the Notes to the Consolidated Financial Statements

changes in equity at June 30, 2017 and 2016

Currency translation reserves	Other reserves	Net Profit	Own funds attributable to shareholders	Own funds attributable to non‐ controlling interests	Shareholders' equity
	(17,364) 9,543	19,046	370,202	322,865	693,067
‐	(105)	(918)	(1,023)	36,535	35,512
	(17,364) 9,438	18,128	369,179	359,400	728,579
	(65,245) 2,915	72,015	9,695	(12,	592) 897) (2,
‐	(11,693)	‐	(11,693)	(5,	582) (17, 275)
‐	‐	‐	(2,703)	‐	(2, 703)
‐	18,128	(18,128)	‐	‐	‐
‐	‐	‐	‐	(98,	601) (98, 601)
‐	‐	‐	‐	1,294	1,294
	(82,609) 18,788	72,015	364,477	243,920	608,397
	(96,922) 21,418	50,157	329,700	240,891	570,590
	(18,941) 213	4,614	(17,449)	35,486	18,036
‐	(30,402)	‐	(30,402)	(8,	391) (38, 793)
‐	50,157	(50,157)	‐	‐	‐
‐	17	‐	17	‐	17
‐	‐	‐	‐	170	170
	(115,863) 41,402	4,614	281,865	268,155	550,020

Consolidated statements of cash‐flows for the six months periods ended at June 30, 2017 and 2016

	Notes	2017	2016
		€ '000	€ '000
Operating Activities		(non audited)	(non audited)
Cash receipts from customers		1,160,199	970,202
Cash paid to suppliers		(895,189)	(717,726)
Cash paid to employees		(185,915)	(187,400)
Cash generated from operating activities		79,094	65,076
Income tax (paid)/received		(21,792)	(10,991)
Other receipts/(payments) generated by operating activities		833	815
Net cash from operating activities (1)		58,135	54,900
Investing Activities
Cash receipts from:
Financial assets		95,512	306,284
Tangible assets		3,708	2,130
Investment grants		‐	1,307
Interest and similar income		16,428	12,331
Dividends		42,024	135
		157,671	322,187
Cash paid in respect of:
Financial assets		(308)	(11,309)
Intangible assets		(6,149)	(6,026)
Tangible assets		(21,520)	(33,348)
		(27,977)	(50,683)
Net cash from investing activities (2)		129,695	271,505
Financing activities
Cash receipts from:
Loans obtained		77,196	76,328
		77,196	76,328
Cash paid in respect of:
Loans obtained		(76,613)	(388,350)
Amortization of finance lease contracts		(18,846)	(22,282)
Interest and similar expense		(51,610)	(57,865)
Dividends		(37,976)	(16,782)
Acquisition of own shares		‐	(2,703)
		(185,044)	(487,983)
Net cash from financing activities (3)		(107,849)	(411,655)
Variation of cash and cash equivalents (4)=(1)+(2)+(3)		79,981	(85,251)
Variations due to changes in the consolidation perimeter		(55)	(15)
Exchange rate effect		(1,679)	(13,555)
Cash and cash equivalents at the beginning of the period		382,937	443,896
Cash and cash equivalents at the end of the period	8	461,184	345,076

To be read with the Notes to the Consolidated Financial Statements

0. Introduction

21

The core business of MOTA‐ENGIL, SGPS, SA, with head office at Edifício Mota, Rua do Rego Lameiro, 38, 4300‐454 Porto (MOTA‐ENGIL SGPS or COMPANY), and its subsidiaries (GROUP or MOTA‐ENGIL GROUP) are public and private construction works and related activities, as well as, waste collection and treatment. The GROUP's business is mostly developed in three regions: Europe, Africa and Latin America.

The detailed description of the GROUP'S activities is provided in Note 2. Business Segments of this notes.

All the amounts disclosed in these notes are presented in thousand Euros, rounded off to the unit, unless explicitly stated otherwise.

1. Accounting Policies

1.1. Presentation basis

The consolidated financial statements of MOTA‐ENGIL GROUP were prepared on a going concern basis from the books and accounting records of the companies comprising it adjusted in the consolidation process. These consolidated financial statements were prepared in accordance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB), as well as, the interpretations issued by the International Financial Reporting Interpretations Committee (IFRIC) or by the former Standards Interpretation Committee (SIC), as adopted by the European Union as at June 30, 2017. Regarding GROUP companies which use different accounting standards, the respective financial statements were subject to conversion adjustments to IFRS.

These consolidated financial statements are prepared in Euro since it is the main currency of the GROUP'S operations. The financial statements of subsidiaries expressed in foreign currency were converted into Euro in accordance with the accounting policies described in subparagraph xiv) of the main valuation criteria presented in the 2016 Consolidated Report and Accounts.

All estimates and assumptions made by the Board of Directors were based on their knowledge of the events and transactions in course, as at the date of approval of these financial statements.

In preparing the consolidated financial statements, in accordance with IFRS, the GROUP'S Board of Directors adopted certain assumptions and estimates which affect the reported amounts of assets and liabilities, as well as, the income and costs incurred relative to the periods disclosed, which are described in subparagraph xxii) of the main valuation criteria presented in the 2016 Consolidated Report and Accounts.

1.2. Comparability of information

The consolidated financial statements of MOTA‐ENGIL GROUP regarding the six months period ended at June 30, 2017 were prepared taking in consideration the accounting policies and the calculation methods presented in the 2016 Consolidated Report and Accounts, in accordance with the provisions of IAS 34 ‐ Interim Financial Reporting.

Nevertheless, as disclosed in the Note 2 of the 2016 Consolidated Report and Accounts, during that year the GROUP concluded the allocation process of the purchase price incurred with the acquisition of the EGF SUBGROUP to the fair value of the assets and liabilities acquired. Therefore, since at December 31, 2015 that allocation process had been determined on a provisional basis, the GROUP has restated its consolidated financial statements at December 31, 2015. Additionally, since the final acquisition difference was allocated to an intangible asset (Exploration right of the concessions), that one started to be amortized. Thus, the consolidated statement of financial position at January 1, 2016 and the consolidated income statement for the six months period ended at June 30, 2016 were restated.

The impact of that restatement was as follows:

22

Consolidated Statement of Financial Position	Equity attributable to the Group	Non‐controlling interests
Balances as at December 31, 2015 (January 1, 2016)	370,202	322,865
Annulment of the acquisition difference allocated provisionally to Goodwill	(39,621)	‐
Fair value of the regulatory liability, net of deferred taxes	15,004	12,769
Contingencies associated with the write‐off of non RAB assets		(8,522) (7,464)
Amount attributed to the Exploration right of the concessions	33,034	32,027
Amortisation of the Exploration right of the concessions, net of deferred taxes	(918)	(797)
Balances as at December 31, 2015 (January 1, 2016) restated	369,179	359,400

Consolidated Income Statement	Amortisations	Income tax	Net profit attributable to the Group	Net profit attributable to non controlling interests
Balances as at June 30, 2016	(95,718) (12,288)		72,559	6,416
Amortisation of the Exploration right of the concessions, net of deferred taxes	(2,213) 498		(543)	(1,171)
Balances as at June 30, 2016 restated	(97,930)	(11,790)	72,015	5,245

In the first half of 2017 and 2016, except for the disposal of the companies of the Ports and Logistics Businesses and the financial investment held in INDAQUA SUBGROUP (transactions performed in the first half of 2016), there were no other material changes in the consolidation perimeter, so, except for the above referred transactions, the effects of the remaining transactions in the main captions of the statements of financial position and income are not disclosed. The changes in the consolidation perimeter occurred during the six months period ended at June 30, 2017 are described in Note 11. Changes in the consolidation perimeter.

During the six months period ended at June 30, 2016, the contribution to the income statement of the companies of the Ports and Logistics Businesses (corresponding to the months of January and February), was as follows:

	Ports and Logistics
	Businesses
Sales and services rendered	26,194
Cost of goods sold, mat. cons., changes in production and Subcontractors	(14,233)
Gross profit	11,960
Third‐party supplies and services	(7,216)
Wages and salaries	(3,278)
Other operating income / (expenses)	988
EBITDA	2,454
Amortisations	‐
Provisons and impairment losses	14
EBIT	2,468
Financial result	(479)
Gains / (losses) on associated companies	101
Income before taxes	2,090

Furthermore, in the first half of 2016, due to the disposal of the Ports and Logistics businesses and the financial investment held in INDAQUA SUBGROUP the GROUP recorded under the heading "Gains / (losses) in the disposal of subsidiaries, associates and jointly controlled companies" capital gains of 77 million euros.

1.3. Standards, interpretations, amendments and revisions which will come into force in future years

The following standards, interpretations, amendments and revisions, as at the date of approval of these consolidated financial statements, have already been endorsed by the European Union and are mandatory for future periods:

Standard / Interpretation	Applicable in the European Union in the years beginning on or after	Content
IFRS 9 ‐ Financial instruments	1‐Jan‐18	IFRS 9 replaces the guidance in IAS 39 regarding: (i) the classi fication and measurement of financial assets and liabilities; (ii ) the recognition of credit impairment (through the expected credit losses model ); and (iii ) the hedge accounting requirements and recognition.
IFRS 15 ‐ Revenue from contracts with customers	1‐Jan‐18	This new standard, applies only to contracts with customers to provide goods or services, and requires an entity to recognise revenue when the contractual obligation to deliver the goods or services is satisfied and by the amount that reflects the consideration the entity is expected to be entitled to, following a five step approach.

Given the complexity and the significant changes in the accounting of certain transactions envisaged in the above mentioned standards, as at the date of approval of these consolidated financial statements, the expected effects of their adoption have not yet been quantified.

1.4. Standards, interpretations, amendments, and revisions not yet endorsed by the European Union

The following standards, interpretations, amendments and revisions, with mandatory application in the year or in future years, as at the date of approval of these consolidated financial statements, were not yet endorsed by the European Union:

	Applicable in the European
Standard / Interpretation	Union in the years beginning	Content
IAS 7 ‐ Cashflow statement (disclosure initiative)	on or after 1‐Jan‐17	This amendment introduces an additional disclosure about the changes in liabilities arising from financing activities, disaggregated between cash changes and non‐cash changes and how it reconciles with the reported cash flows from financing activities, in the Cash Flow Statement.
IAS 12 ‐ Income taxes (recognition of deferred tax assets for unrealised losses)	1‐Jan‐17	This amendment clari fies how to account for deferred tax assets related to assets measured at fair value, how to estimate future taxable profits when temporary deductible di fferences exist and how to assess recoverability of deferred tax assets when restrictions exist in the tax law.
IAS 40 ‐ Investment property (transfers of Investment property)	1‐Jan‐18	This amendment clari fies when assets are transferred to, or from investment properties, the evidence of the change in use is required. A change of management intention in isolation is not enough to support a trans fer.
IFRS 2 ‐ Share‐based payment transactions (classi fication and measurement of share‐based payment transactions)	1‐Jan‐18	This amendment clari fies the measurement basis for cash‐settled, share‐ based payments and the accounting for modi fications to a share‐based payment plan that change the classi fication an award from cash‐settled to equity‐settled. It also introduces an exception to the principles in IFRS 2 that will require an award to be treated as i f it was wholly equity‐ settled, where an employer is obliged to withhold an amount for the employee's tax obligation associated with a share‐based payment and pay that amount to the tax authority.
IFRS 4 ‐ Insurance contracts (applying IFRS 4 with IFRS 9)	1‐Jan‐18	This amendment allows companies that issue insurance contracts the option to recognise in Other Comprehensive Income, rather than Profit or Loss, the volatility that could rise when IFRS 9 is applied before the new insurance contract standard is issued. Additionally, it is given an optional temporary exemption from applying IFRS 9 until 2021, to the companies whose activities are predominantly connected with insurance, not being applicable at consolidated level.
Amendments to IFRS 15 ‐ Revenue from contracts with customers	1‐Jan‐18	These amendments refer to additional guidance for determining the performance obligations in a contract, the timing of revenue recognition from a license of intellectual property, the review of the indicators for principal versus agent classi fication, and to new practical expedients to simpli fy transition.
IFRS 16 ‐ Leases	1‐Jan‐19	This new standard replaces the IAS 17 with a significant impact on the accounting by lessees that are now required to recognise a lease liability reflecting future lease payments and a "right‐of‐use asset" for all lease contracts, except for certain short‐term leases and for low‐value assets. The definition of a lease contract also changed, being based on the "right to control the use of an identi fied asset".
IFRS 17 ‐ Insurance contracts	1‐Jan‐21	This new standard replaces IFRS 4 and applies to all entities issuing insurance contracts, reinsurance contracts and investment contracts with discretionary participation characteristics. IFRS 17 is based on the current measurement of technical liabilities at each reporting date. The current measurement can be based on a complete "building block approach" or "premium allocation approach". The recognition of the technical margin is different depending on whether it is positive or negative. IFRS 17 is of retrospective application.

24

Standard / Interpretation	Applicable in the European Union in the years beginning on or after	Content
Annual Improvements 2014 ‐ 2016	01‐Jan‐17 / 01‐Jan‐18	The 2014‐2016 annual improvements impacts: IFRS 1, IFRS 12 and IAS 28. IFRS 12 (This improvement intends to clari fy the scope with respect to interests in entities within the scope of IFRS 5 and that the only exemption refers to the disclosure of summarized financial information for those entities) and IAS 28 (This improvement clari fies that investments in associates or joint ventures held by a venture capital organization are allowed to be measured at fair value in accordance with IFRS 9, on a standalone basis. This improvement also clarifies that an entity that it is not an investment entity but holds investments in associates and joint ventures that are investment entities, is entitled to retain the fair value measurement of the associate's and joint venture's interest in its own subsidiaries).
IFRIC 22 ‐ Foreign currency transactions and advance consideration	1‐Jan‐18	This is an interpretation to IAS 21 'The effects of changes in foreign exchange rates' and it refers to the determination of the "date of transaction" when an entity either pays or receives consideration in advance for foreign currency denominated contracts. The date of transaction determines the exchange rate used to translate the foreign currency transactions.
IFRIC 23 ‐ Uncertainty over income tax treatment	1‐Jan‐19	This is an interpretation of IAS 12 ‐ 'Income tax', referring to the measurement and recognition requirements to be applied when there is uncertainty as to the acceptance of an income tax treatment by the tax authorities. In the event of uncertainty as to the position of the tax authority on a speci fic transaction, the entity shall make its best estimate and record the income tax assets or liabilities under IAS 12, and not under IAS 37 ‐ "Provisions, contingent liabilities and contingent assets ", based on the expected value or the most probable value. The application of IFRIC 23 may be retrospective or retrospective modi fied.

2. Business Segments

26

The GROUP uses its internal organization for management purposes as a basis for its reporting of information by operational segments. The GROUP is organized into the following geographical areas: Europe (subdivided in Engineering and Construction and Environment and Services), Africa and Latin America.

The companies/entities included in the consolidation perimeter and the respective consolidation methods, head offices, effective participation percentages, activity, incorporation date and date of acquisition are those presented in Appendix A.

Amounts concerning MOTA‐ENGIL SGPS and GROUP companies in the Tourism area are included in the caption "Others, eliminations and intra‐group", which also include the amounts related to balances and transactions maintained between operational segments.

In the first half of 2017 and 2016, the financial information by operational segments can be analysed as follows:

	Sales and services rendered		EBITDA
	2017	2016	2017	2016
Europe Engineering and Construction		229,852 242,436	7,067	(6,492)
Europe Environment and Services		152,873 169,252	55,708	50,442
Africa		349,332 334,666	77,852	77,841
Latin America		469,183 343,501	37,918	27,070
Others, eliminations and intra‐group		(5,595) (54,214)	7,816	(4)
Mota‐Engil Group	1,195,645	1,035,641	186,362	148,858

EBITDA corresponds to the algebraic sum of the following headings of the consolidated income statement: "Sales and services rendered" + "Cost of goods sold, mat. cons., changes in production and Subcontractors" + "Third‐party suppliers and services" + "Wages and salaries" + "Other operating income / (expenses)".

In the first half of 2017 and 2016, the sales and services rendered between the operational segments were included in "Others, eliminations and intra‐group".

As at June 30, 2017 and December 31, 2016, total net assets and liabilities of the GROUP by operational segments are as follows:

	Net Assets			Liabilities
	2017	2016	2017	2016
Europe Engineering and Construction	1,007,581	1,013,996	747,964	747,746
Europe Environment and Services	1,075,164	1,089,668	755,633	899,548
Africa	1,495,330	1,473,679	1,112,820	1,087,807
Latin America		897,317 777,964	785,366	679,422
Others, eliminations and intra‐group	(190,779)	(134,603)	332,811	235,592
Mota‐Engil Group	4,284,614	4,220,704	3,734,593	3,650,114

In the first half of 2017 there were no changes in the GROUP operational segments or in the form of calculation and accounting the amounts regarding them.

3. Financial Results

Financial results for the six months period ended at June 30, 2017 and 2016 were as follows:

	2017	2016
Financial income and gains Loans and accounts receivable:
Interest income	8,180	6,582
Payments discounts received	454	226
Favourable exchange di fferences (net)	1,271	20,438
Other financial assets
Income from real estate properties	767	491
Fair value gains ‐ Derivative financial instruments	1,184	‐
Other financial income and gains	635	603
	12,490	28,340
Financial costs and losses
Loans and accounts payable:
Interest expenses	49,435	49,978
Payments discounts granted	251	172
Other financial liabilities:
Fair value losses ‐ Derivative financial instruments		‐ 2,432
Other financial costs and losses	9,956	5,660
	59,642	58,242
	(47,151)	(29, 902)

In the six months period ended at June 30, 2017 and 2016, the heading "Other financial costs and losses" included mainly costs with the set‐up of loans, as well as, several commissions and others costs charged by financial institutions.

4. Earnings per share

The COMPANY issued only common shares and therefore there are no special dividends or voting rights.

There are no situations in the GROUP that might lead to a reduction of earnings per share as a result of options, warrants, convertible bonds or other rights associated to common shares. Therefore, there is no dissimilarity between the calculation of basic earnings per share and the calculation of diluted earnings per share.

During the six months period ended at June 30, 2017 and 2016 no common shares were issued.

In the six months period ended at June 30, 2017 and 2016, the earnings per share were calculated as follows:

		2017	2016 restated
Consolidated net profit of the period attributable to the Group:	(I)	4,614	72,015
Total number of ordinary shares	(II)	237,505,141	237,505,141
Number of own shares at the end of the semester	(III)	3,639,812	3,639,812
Weighted average number of ordinary shares	(IV)	237,505,141	237,505,141
Weighted average number of own shares	(V)	3,639,812	3,302,078
Number of shares outstanding	(IV ‐ V)	233,865,329	234,203,063
Earnings per share:
basic	(I) / (II ‐ IV)	0.020 £	0.307 £
diluted	(I) / (II ‐ IV)	0.020 £	0.307 £

5. Goodwill

The information regarding goodwill, for the six months period ended at June 30, 2017 and for the year ended at December 31, 2016, is as follows:

	2017	2016
	Net Goodwill	Net Goodwill
Europe Engineering and Construction
Mota‐Engil Central Europe Poland	7,247	7,047
Mota‐Engil Central Europe Czech Rep.	‐	1,147
Other	227	1,787
	7,473	7,110
Europe Environment and Services
Suma Group	9,555	9,555
Other	597	787
	10,152	10,342
Africa
Cecot	1,440	1,440
Mota‐Engil S.Tomé	143	143
Vista Water	1,841	1,841
ME Construction South Africa	12,116	12,504
	15,540	15,928
Latin America
Empresa Construtora Brasil	5,310	5,831
Consita	564	619
	5,873	6,450
	39,039	39,830

The movements occurred in goodwill during the six months period ended at June 30, 2017 were as follows:

	2017
Goodwill at the beginning of the period	39,830
Changes in Goodwill due to exchange differences
Mota‐Engil Central Europe Poland	200
Empresa Construtora Brasil	(521)
ME Construction South Africa	(388)
Other	(82)
	(791)
Goodwill at the end of the period	39,039

6. Financial investments in associates and jointly controlled companies

As at June 30, 2017 and December 31, 2016, the detail of the financial investments in associates and jointly controlled companies is as follows:

	2017	2016
Associated companies
Autopista Urbana Siervo de la Nacion		77,885 74,353
Concessionária Autopista Tuxpan‐Tampico		15,826 14,650
Concessionária Autopista Cardel		13,152 12,532
SPRI		7,428 7,576
Suma group associates		2,905 2,867
Automatriz		2,550 2,384
Manvia II Condutas	855	972
Others		8,185 7,035
	128,784	122,369

7. Available for sale and held to maturity financial assets

As at June 30, 2017 and December 31, 2016, the detail of the available for sale and held to maturity financial assets is as follows:

	2017	2016
Available for sale financial assets
BAI‐Banco Angolano de Investimentos		32,192 31,872
Auto ‐ Sueco Angola		3,384 3,384
Estradas do Zambeze		2,724 2,724
STI		1,568 1,439
Ecodetra	1,153	1,153
Other	5,522	3,309
		46,543 43,881
Advances for available for sale financial assets
Other		1,183 1,307
		1,183 1,307
Available for sale financial assets		47,727 45,188
Held to maturity financial assets
Angola sovereign bonds	160,643	86,380
	160,643	86,380
Available for sale and held to maturity financial assets	208,369	131,568

In the first half of 2017, following the publication on February 5, 2017 of a Presidential Decree that established an agreement between the Angolan State and the Luanda Waterfront Corporation(*) regarding the review and the bail out of the Luanda Bay's requalification project, the GROUP received approximately US\$ 82,000,000 of Angolan government bonds, with a maturity of seven‐years. In addition, in the context of that process, the GROUP also agreed to receive a right of use of a portion of a land of approximately 64,000 square metres owned by that debtor, which is still under appreciation and valuation.

(*) Major shareholder of Baía de Luanda company, for which the GROUP executed several construction contracts in previous years.

8. Cash and cash equivalents

29

The amounts included in the captions "Cash and cash equivalents with recourse" at June 30, 2017 and at December 31, 2016, are as follows:

	Demand deposits		Term deposits		Total
	2017	2016	2017	2016	2017	2016
Other treasury applications		4,009 8,567	‐	‐	4,009	8,567
Bank deposits and cash in hand
Bank deposits		368,162 281,780	‐	13,122	368,162	294,902
Cash in hand		4,124 5,836	‐	‐	4,124	5,836
		376,295 296,183	‐	13,122	376,295	309,305

The amounts included in the caption "Cash and cash equivalents without recourse" at June 30, 2017 and at December 31, 2016, are as follows:

	Demand deposits
	2017	2016
Other treasury applications		2 2
Bank deposits and cash in hand
Bank deposits	84,865	86,734
Cash in hand		22 18
	84,889	86,754

9. Loans

The amounts regarding Loans with recourse at June 30, 2017 and at December 31, 2016, are as follows:

	Current (1 year)	2 years	3 to 5 years	over 5 years	Non‐current	Total
2017
Non‐convertible bond loans	66,352	197,000	93,195	‐ 290,195		356,547
Amounts owed to credit institutions
Bank loans	317,322		177,669 176,458	61,470 415,597		732,919
Overdraft facilities		97,194	‐ ‐		‐ ‐ 97,194
Revolving facilities		124,147	‐ ‐	‐ ‐		124,147
Other loans obtained
Commercial paper issues	106,055		44,349 ‐	‐	44,349	150,404
Other loans	643		1,874 1,644		‐ 3,518 4,161
		711,712 420,892	271,297	61,470	753,659	1,465,371
2016
Non‐convertible bond loans	42,009		83,717 237,000	‐ 320,717		362,726
Amounts owed to credit institutions
Bank loans	305,900		166,116 221,521	57,147 444,783		750,683
Overdraft facilities		93,758	‐ ‐		‐ ‐ 93,758
Revolving facilities		137,624	‐ ‐	‐ ‐		137,624
Other loans obtained
Commercial paper issues	34,543	29,760	40,089	‐	69,849	104,391
Other loans	2,552		1,303 746		‐ 2,049 4,602
		616,385 280,896	499,355	57,147	837,398	1,453,784

Although the commercial paper issues fall due at one year, they are covered by medium and long term programmes which ensure their automatic renewal over time. Therefore, since the GROUP'S Board of Directors intends to use the aforesaid programmes till their maturity, those debts were recorded as liabilities due in the medium and long term.

The amounts regarding Loans without recourse at June 30, 2017 and at December 31, 2016, are as follows:

	Current (1 year)	2 years	3 to 5 years	over 5 years	Non‐current	Total
2017
Amounts owed to credit institutions
Bank loans	24,898	19,891	56,109	52,500 128,500		153,399
Overdraft facilities	3,158		‐ ‐		‐ ‐ 3,158
	30,562	22,391	63,609	59,899	145,898	176,460
2016
Amounts owed to credit institutions
Bank loans	21,932	19,709	62,309	55,210 137,227		159,159
Overdraft facilities	7,158		‐ ‐		‐ ‐ 7,158
Other loans obtained
Commercial paper issues	2,500		2,500 7,500	8,648	18,648 21,148
	31,590	22,209	69,809	63,858	155,875	187,465

10. Non‐current assets held for sale

Following the financial settlement in January 2017 of the first phase of the agreement established with the Ardian Group regarding the sale of certain assets of LINEAS SGPS, S.A. (formerly denominated ASCENDI, SGPS, S.A.), the latter entity transferred to MOTA‐ENGIL SGPS approximately 145 million euros to reimburse supplementary capital and other loans, as well as to proceed with the payment of interest and dividends. Accordingly, the decrease verified in the semester in the caption "Non‐current assets held for sale" is justified essentially by the facts described above.

11. Changes in the consolidation perimeter

In the first half of 2017, the changes occurred in the consolidation perimeter were as follows:

Companies consolidated for the first time in the period

Business Area ‐ Latin America
FSE Suministradora Fenix, S.A.P.I. de CV
FSE Comercializadora Fenix, S.A.P.I. de CV
Consórcio MEC‐Arroyo De La Carrera
Consórcio MEC‐Av.Malecon‐UF2
Companies no longer consolidated in the period
Business Area ‐ Europe ‐ Engineering and Construction
Mota‐Engil Central Europe Slovenská Republika, AS (liquidated)
Business Area ‐ Latin America
WVB Project Company VBA (sold)
Fideicomiso el Capomo

12. Other information

31

At the Shareholders' General Meeting held on May 24, 2017, it was approved a dividend distribution regarding the net profit generated in 2016 of 13 cents per share totalling 30,875,668 euros and 33 cents.

13. Subsequent events

EGF – Public Offering

Following the resolution of the Council of Ministers no. 87/2017 of June 19 and as foreseen in the respective privatization process, it was held between July 17 and August 4, 2017 a Public Offering of shares of EMPRESA GERAL DE FOMENTO, S.A. representing 5% of its share capital, still held by ADP – ÁGUAS DE PORTUGAL, S.G.P.S., S.A., aim to its employees. As a result of the aforementioned Offer, the EGF GROUP employees acquired 1,300 shares for an amount of approximately 18,000 euros. The remaining 558,700 shares were acquired by SUMA TRATAMENTO for an amount of approximately 8,000,000 euros.

Since MOTA‐ENGIL GROUP already control EGF GROUP, the aforementioned acquisition will be treated as a transaction with shareholders (affecting only equity captions) not generating any goodwill or result.

Contingent liabilities

As stated in the Consolidated Report and Accounts of 2016, the GROUP is involved in several legal proceedings, both as defendant and as litigant. In relation to one of those proceedings, which was awaiting the reconfirmation by the Slovak Constitutional Court of a favorable decision already ruled in the past, concerning facts that occurred in 2004, a change in the position of that Court occurred despite the same factual identity and legal framework. However, and without the prejudice to the right of appealing, in particular to the European jurisdiction, it is the management believe, based on the opinion of reputable jurists, that, due to a very specific procedural context and due to some undermined assumptions, that the content of the administrative decision inherent to that process, in particular the respective penalty (pecuniary), will always need to be enforceable.

Appendix A. Consolidated companies

Investments in subsidiaries included in the consolidated financial statements

Investments in subsidiaries included in the consolidated financial statements using the full consolidation method, their headquarters, the effective holding percentage, their activity, their setup/acquisition date, are as follows:

Parent Company of the Group and Related Activities Mota‐Engil, SGPS, S.A., Sociedade Aberta ("Mota‐Engil SGPS") Portugal ‐ Management of financial holdings Aug‐90 ‐ (Porto) Largo do Paço – Investimentos Turísticos e Imobiliários, Lda. ("Largo do Paço") Portugal 100,00 Real Estate Development ‐ Oct‐01 (Amarante) Through Mota‐Engil SGPS 100,00 ME 3I, SGPS, S.A. ("ME 3I SGPS") Portugal 61,20 Management of financial holdings Oct‐11 ‐ Through Mota‐Engil Indústria e Inovação (Linda‐a‐Velha) 61,20 MESP ‐ Mota Engil , Serviços Partilhados, Administrativos e de Gestão, S.A. Portugal 100,00 ("Mota‐Engil Serviços Partilhados") (Porto) Administrative Services Dec‐02 ‐ Through Mota‐Engil SGPS 100,00 Mota‐Engil Indústria e Inovação, SGPS, S.A. ("Mota‐Engil Indústria e Inovação") Portugal 100,00 Management of financial holdings Nov‐10 ‐ (Linda‐a‐Velha) Through Mota‐Engil SGPS 100,00 Mota‐Engil Finance, B.V. ("ME Finance BV") Netherlands 100,00 Consulting Services Dec‐12 ‐ Through Mota‐Engil SGPS (Amsterdam) 100,00 Mota‐Engil Mining Management (Proprietary) Limited ("ME Mining South Africa 100,00 Management") Human Resources Management in Mining Apr‐11 ‐ (Johannesburg) Through Mota‐Engil Minerals Mining Investment B.V. 100,00 Mota‐Engil Minerals & Mining (Malawi) Limited ("ME Minerals & Mining Malawi 99,99 Prospecting, exploitation and processing Malawi") Mar‐11 ‐ (Lilongwe) of minerals Through Mota‐Engil Minerals Mining Investment B.V. 99,99 Mota‐Engil Minerals & Mining (Zimbabwe) (Private) Limited ("ME Minerals & Zimbabwe 100,00 Prospecting, exploitation and processing Mining Zimbabwe") (Harare) May‐11 ‐ of minerals Through Mota‐Engil Minerals Mining Investment B.V. 100,00 Mota‐Engil Minerals Mining Investment B.V. ("ME Minerals Mining Investment Netherlands 100,00 BV") Management of other companies Oct‐10 ‐ (Amsterdam) Through Mota‐Engil SGPS 100,00 MK Contractors, LLC ("MKC") USA 100,00 Real Estate Development Mar‐02 ‐ Through Mota‐Engil Engenharia e Construção (Miami ) 100,00 RTA ‐ Rio Tâmega, Turismo e Recreio, S.A. ("RTA") Portugal 100,00 Real Estate and Tourism ‐ May‐00 Through Mota‐Engil SGPS (Amarante) 100,00 SGA – Sociedade do Golfe de Amarante, S.A. ("SGA") Portugal 97,17 Gol f Practice and Marketing and related ‐ Through RTA (Amarante) 96,89 Dec‐00 activities Through Mota‐Engil Engenharia e Construção 0,28 Europe Engineering and Construction Aurimove – Sociedade Imobiliária, S.A. ("Aurimove") Portugal 100,00 Real Estate Development Dec‐93 ‐ Through Mota‐Engil Real Estate Portugal (Porto) 100,00 Áreagolfe ‐ Gestão, Construção e Manutenção de Campos de Golfe, S.A. Portugal 66,67 Management, construction and ("Áreagolfe") ‐ Jul ‐07 (Torres Novas) maintenance of golf courses Through Vibeiras 66,67 Balice Project Development Sp. z o.o. ("Balice") Poland 100,00 ‐ Real Estate Development Oct‐12 (Cracow) Through Mota‐Engil Real Estate, SGPS 100,00 Bohdalecká Project Development s.r.o. ("Bohdalecká") Czech Republic 100,00 Real Estate Development ‐ Sep‐07 Through Mota‐Engil Real Estate, SGPS (Prague) 100,00 Bukowinska Project Development ("Bukowinska Project Development ") Poland 100,00 ‐ Design and construction of social Mar‐15 (Cracow) Through Mota‐Engil Central Europe Polónia 100,00 housing Portugal Calçadas do Douro ‐ Sociedade Imobiliária, Lda. ("Calçadas do Douro") 100,00 Real Estate Development ‐ Sep‐00 Through Mota‐Engil Real Estate Portugal (Porto) 100,00 Carlos Augusto Pinto dos Santos & Filhos S.A. ("Capsfil") Portugal 100,00 Extraction of gravel, sand and crushed Mar‐77 Oct‐09 Through Mota‐Engil Engenharia e Construção stone (Vila Flor) 100,00 Bay 6.3. Korlátolt Felelősségű Társaság Kft. ("Bay 6.3") Hungary 76,73 Real Estate Development ‐ Dec‐08 Through Obol Invest (Budapest) 76,73 Bay‐Office Korlátolt Felelősségű Társaság Kft. ("Bay Office") Hungary 76,73 Real Estate Development ‐ Dec‐08 Through Obol Invest (Budapest) 76,73 Bay‐Park Korlátolt Felelősségű Társaság Kft. ("Bay Park") Hungary 76,73 Real Estate Development ‐ Dec‐08 Through Obol Invest (Budapest) 76,73 Bay‐Tower Korlátolt Felelősségű Társaság Kft. ("Bay Tower") Hungary 76,73 Real Estate Development ‐ Dec‐08 Through Obol Invest (Budapest) 76,73 Bay‐Wellness Korlátolt Felelősségű Társaság Kft. ("Bay Wellness") Hungary 76,73 Real Estate Development ‐ Dec‐08 Through Obol Invest (Budapest) 76,73 Corgimobil ‐ Empresa Imobiliária das Corgas, Lda. ("Corgimobil") Portugal 97,25 Construction works, studies and real Through Mota‐Engil Engenharia e Construção (Cascais) 71,79 ‐ Nov‐00 estate Through Mota‐Engil Real Estate Portugal 25,46 Devonská Project Development A.S. ("Devonská") Czech Republic 100,00 Real Estate Development Dec‐06 ‐ Through Mota‐Engil Real Estate, SGPS (Prague) 100,00 Diace ‐ Construtoras das Estradas do Douro Interior A.C.E. ("Diace ACE MEEC") 53,10 Realization of construction works and Nov‐08 Dec‐15 Portugal services and providing design. Through Mota–Engil Engenharia e Construção (Porto) 53,10 Dmowskiego Project Development, Sp. z.o.o. ("Dmowskiego") Poland 100,00 Aug‐07 ‐ Real Estate Development Through Mota‐Engil Real Estate, SGPS (Cracow) 100,00	Designation	Headquarters	Effective holding percentage	Activity	Set up date	Acquisition date

Designation	Headquarters	Effective holding Activity percentage		Set up date	Acquisition date
Dzieci Warszawy Project Development Sp. z.o.o. ("Dzieci Warszawy Project Development")	Poland (Cracow)	100,00	Real Estate Development	Nov‐15	‐
Through Mota‐Engil Real Estate, SGPS Edifício Mota Viso – Soc. Imobiliária, Lda. ("Mota Viso")	Portugal	100,00 100,00		Jun‐94	‐
Through Mota‐Engil Real Estate Portugal	(Porto)	100,00	Real Estate Development
Edipainel – Sociedade Imobiliária, Lda. ("Edipainel")	Portugal	100,00		Mar‐02	‐
Through Mota‐Engil Real Estate Portugal	(Porto)	70,00	Real Estate Development
Through Mota–Engil Engenharia e Construção		30,00
Ekosrodowisko z.o.o. In Liquidation ("Ekosrodowisko") Through SUMA	Poland (Bytom)	61,50 61,50	Urban solid waste	Feb‐05	Dec‐05
Engber Ingatlanforgalmazó És Szolgáltató Korlátolt Felelősségű Társaság Kft.
("Engber")	Hungary	76,73	Real Estate Development	‐	Jun‐08
Through Obol XI	(Budapest)	76,73
Glan Agua, Ltd ("Glanagua")	Ireland	70,00	Treatement of waste, exploitation and	Jan‐08	‐
Through MEIS	(Ballinasloe)	70,00	management of water sytems
Glan Agua (UK), Ltd ("Glanagua UK")	United Kingdom	70,00	Treatement of waste, exploitation and	Jul‐15	‐
Through MEIS	(St Albans)	70,00	management of water sytems
Glace ‐ Construtoras das Auto‐estradas da Grande Lisboa A.C.E. ("Glace ACE			Realization of construction works and	Dec‐06	Dec‐15
MEEC") Through Mota–Engil Engenharia e Construção	Portugal (Porto)	52,87 52,87	services and providing design
Grota‐Roweckiego Project Development Sp. z o.o. ("Grota‐Roweckiego Project
Development ")	Poland	100,00	Real Estate Development	Oct‐12	‐
Through Mota‐Engil Central Europe Polónia	(Cracow)	100,00
Hungária Hotel Ingatlanforgamazó, Kereskedelmi, és Szolgáltató Kft. ("Hotel
Achat Hungary")	Hungary	100,00	Real Estate Development	Jun‐08	‐
Through Mota‐Engil Real Estate, SGPS	(Budapest)	100,00
Immo Park Gdańsk, Sp. z.o.o. ("Immo Park Gdańsk")	Poland	100,00	Design, construction, management and	Mar‐13	‐
Through Mota‐Engil Central Europe Polónia	(Cracow)	100,00	exploitation of parking lots
Immo Park Warszawa, Sp. z.o.o. ("Immo Park Warszawa")	Poland	100,00	Design, construction, management and	Oct‐12	‐
Through Mota‐Engil Central Europe Polónia Immo Park, Sp. z.o.o. ("Immo Park")	(Cracow) Poland	100,00 100,00	exploitation of parking lots Design, construction, management and	Jan‐08	Mar‐11
Through Mota‐Engil Central Europe Polónia	(Cracow)	100,00	exploitation of parking lots
Kilinskiego Project Development Sp. z.o.o. ("Kilinskiego")	Poland	100,00		Aug‐07	‐
Through Mota‐Engil Real Estate, SGPS	(Cracow)	100,00	Real Estate Development
Kilinskiego Property Investment Sp. z.o.o. ("Kilinskiego PI")	Poland	100,00		Sep‐11	‐
Through Kilinskiego Project Development Sp. z.o.o.	(Cracow)	99,99	Real Estate Development
Through Mota‐Engil Real Estate, SGPS		0,01
Kordylewskiego Project Development W Likwidacji Sp. z o.o.	Poland	100,00		Feb‐05	‐
("Kordylewskiego")			Real Estate Development
Through Mota‐Engil Real Estate, SGPS	(Cracow)	100,00
Listopada Project Development ("Listopada project Development ")	Poland	100,00	Real Estate Development	Nov‐15	‐
Through Mota‐Engil Real Estate, SGPS	(Cracow)	100,00
Lusitânia ‐ Construtoras das Auto‐estradas das Beiras Litoral e Alta A.C.E. ("Lusitânia ACE MEEC")	Portugal		Realization of construction works and		Dec‐15
	(Porto)	83,95	services and providing design	Apr‐01
Through Mota–Engil Engenharia e Construção Mercado Urbano ‐ Gestão Imobiliária, S.A. ("Mercado Urbano")	Portugal	83,95 100,00		Jul‐09	Mar‐11
Through Mota‐Engil Real Estate Portugal	(Porto)	100,00	Real Estate Development
ME Real Estate ‐ Mota‐Engil Real Estate Portugal, S.A. ("Mota‐Engil Real Estate
Portugal")	Portugal	100,00	Real Estate Development	Sep‐01	‐
Through Mota‐Engil Real Estate, SGPS	(Porto)	100,00
ME Investitii AV s.r.l. ("Mota‐Engil Investitii")	Romania			‐	Sep‐07
	(Bucharest)	100,00	Real Estate Development
Through Mota‐Engil Real Estate, SGPS MES, Mota‐Engil Srodowisko, Sp. z.o.o. ("MES")	Poland	100,00 61,50		Dec‐05	‐
Through Suma	(Cracow)	61,50	Urban solid waste
Metró Építoipari Gépészeti és szállítási, Zrt ("Metroepszolg")	Hungary	100,00		Dec‐00	‐
Through Mota‐Engil Magyarország	(Budapest)	100,00	Public works
Motadomus ‐ Sociedade Imobiliária, Lda. ("Motadomus")	Portugal	100,00		Jan‐97	Jan‐01
Through Aurimove	(Porto)	95,00	Construction works
Through Mota‐Engil Real Estate Portugal		5,00
Mota‐Engil International Construction (UK) Ltd ("Mota‐Engil International				jul/15	‐
Construction")	United Kingdom	60,00	Construction works
Through da Mota‐Engil Engenharia e Construção	(St Albans)	60,00
Mota‐Engil Ireland Construction Limited ("Mota‐Engil Ireland")	Ireland (Dublin)	60,00	Construction works	Oct‐07	‐
Through Mota‐Engil Engenharia e Construção Mota‐Engil Engenharia e Construção, S.A. ("Mota‐Engil Engenharia")	Portugal	60,00 100,00	Construction works, and purchase and	‐	Dec‐00
Through Mota‐Engil Europa	(Amarante)	100,00	sale of real estate

Designation	Headquarters	Effective holding percentage	Activity	Set up date	Acquisition date
Mota‐Engil Real Estate, SGPS, S.A. ("Mota‐Engil Central Europe SGPS")	Portugal	100,00	Management of financial holdings	Dec‐02	‐
Through Mota‐Engil Europa Mota‐Engil Central Europe, S.A. ("Mota‐Engil Central Europe Polónia")	(Porto) Poland	100,00 100,00	Construction works	Feb‐53	Mar‐99
Through Mota‐Engil Engenharia e Construção	(Cracow)	100,00
Mota‐Engil Central Europe Ceska Republika, AS ("Mota‐Engil Central Europe República Checa") Through Mota‐Engil Europa	Czech Republic (Prague)	100,00 100,00	Construction and public works	Jan‐97	‐
Mota‐Engil Central Europe Business Support Center Sp. z o. o. ("MECE Business Support Center")	Poland	100,00	Administrative Services	Dec‐09	‐
Through Mota‐Engil Central Europe Polónia	(Cracow)	100,00
Mota‐Engil Ireland Services Ltd. ("MEIS") Through Mota‐Engil Engenharia e Construção	Ireland (Dublin)	70,00 70,00	Treatement of waste, exploitation and management of water sytems	Jan‐08	‐
Mota‐Engil Central Europe Hungary Beruházási és Építoipari Kft. ("ME Central Europe Hungria")	Hungary (Budapest)	100,00	Construction and public works	Feb‐08	‐
Through Mota‐Engil Central Europe Polónia Mota‐Engil Magyarország Beruházási És Épitoipari Zrt. ("Mota‐Engil		100,00
Magyarország")	Hungary	100,00	Public works	Jan‐96	‐
Through Mota‐Engil Europa Mota‐Engil Vermelo Sp. z.o.o ("ME Vermelo")	(Budapest) Poland	100,00 100,00	Design, construction, management and	Mar‐12	‐
Through da Mota‐Engil Central Europe Polónia	(Cracow)	100,00	exploitation of parking lots
Mota‐Engil Central Europe PPP Sp. z.o.o ("ME Central Europe PPP") Through Mota‐Engil Central Europe Polónia	Poland (Cracow)	100,00 100,00	Design, construction, management and exploitation of parking lots	Mar‐12	‐
Mota‐Engil Central Europe PPP 2 Sp. z.o.o ("ME Central Europe PPP 2") Through Mota‐Engil Central Europe Polónia	Poland (Cracow)	100,00 100,00	Design, construction, management and exploitation of parking lots	Dec‐13	‐
Mota‐Engil Central Europe PPP Road Sp. z.o.o ("ME Central Europe PPP Road")	Poland	100,00	Design, construction, management and	‐	Nov‐13
Through Mota‐Engil Central Europe Polónia	(Cracow)	100,00	exploitation of parking lots
Mota‐Engil Central Europe PPP 3 Sp. Z.o.o (ME Central Europe PPP 3) Through Mota‐Engil Central Europe Polónia	Poland (Cracow)	100,00 100,00	Design, construction, management and exploitation of parking lots	Apr‐14	‐
Norace ‐ Construtoras das Auto‐estradas do Norte A.C.E. ("Norace ACE MEEC")	Portugal (Porto)	82,87	Realization of construction works and services and providing design	Jun‐99	Dec‐15
Through Mota–Engil Engenharia e Construção Grodkowska Project Development Sp. z.o.o ("Grodkowska Project	Poland	82,87 100,00	Design and construction of social	Mar‐14	‐
Development ") Through Mota‐Engil Real Estate, SGPS	(Cracow)	100,00	housing
Mota‐Engil Real Estate Hungary Ingatlanforgalmazó, Kereskedelmi és Szolgáltató Kft.("Mota‐Engil Real Estate Hungary")	Hungary	100,00	Real Estate Development	Jul‐05	‐
Through Mota‐Engil Real Estate, SGPS	(Budapest)	100,00
Mota‐Engil Real Estate Management, sp. z.o.o. ("Mota‐Engil Real Estate Management") Through Mota‐Engil Real Estate, SGPS	Poland (Cracow)	100,00 100,00	Real Estate Development	Jun‐05	‐
Nortedomus, Sociedade Imobiliária SA. ("Nortedomus")	Portugal	100,00	Real Estate Development	‐	Oct‐01
Through Mota‐Engil Real Estate Portugal Nádor‐Öböl Ingatlanforgalmazó És Beruházó Korlátolt Felelősségű Társaság Kft.	(Lisbon)	100,00
("Nádor Obol") Through Obol XI	Hungary (Budapest)	76,73 76,73	Real Estate Development	‐	Oct‐06
Öböl Invest Befektetési És Üzletviteli Tanácsadó Korlátolt Felelősségű Társaság	Hungary	77,50
Kft. ("Obol Invest") Through Mota‐Engil Real Estate, SGPS	(Budapest)	77,50	Real Estate Development	‐	May‐05
Öböl Xi. Ingatlanhasznosítási Beruházó És Szolgáltató Korlátolt Felelősségű Társaság Kft. ("Obol XI")	Hungary	76,73	Real Estate Development	‐	Dec‐03
Through Obol Invest Proempar ‐ Promoção e Gestão de Parques Empresariais e Tecnológicos, S.A.	(Budapest) Portugal	76,73	Marketing, management and exploitation
("Proempar")	(Porto)	100,00	of technological and industrial business	Oct‐06	‐
Through Mota‐Engil Real Estate Portugal Project Development 1 Sp. Z.o.o. ("Project Development 1")	Poland	100,00 100,00	parks Real Estate Development	Nov‐15	‐
Through Mota‐Engil Real Estate, SGPS Project Development 2 Sp. Z.o.o. ("Project Development 2")	(Cracow) Poland	100,00 100,00
Through Mota‐Engil Real Estate, SGPS	(Cracow)	100,00	Real Estate Development	Nov‐15	‐
Pinhal ‐ Construtoras das Auto‐estradas do Pinhal Interior A.C.E. ("Pinhal ACE MEEC") Through Mota–Engil Engenharia e Construção	Portugal (Porto)	53,52 53,52	Realization of construction works and services and providing design	Apr‐10	Dec‐15
Portuscale ‐ Construtoras das Auto‐estradas do Grande Porto A.C.E. ("Portuscale ACE MEEC") Through Mota–Engil Engenharia e Construção	Portugal (Porto)	83,95 83,95	Realization of construction works and services and providing design	Jul‐02	Dec‐15
Sampaio Üzletviteli Tanácsadó Korlátolt Felelősségű Társaság Kft. ("Sampaio")	Hungary	76,73		‐	Jan‐03
Through Obol XI	(Budapest)	76,73	Real Estate Development
Sedengil – Sociedade Imobiliária, S.A. ("Sedengil")	Portugal	100,00	Real Estate Development	Oct‐82	May‐95 / May‐97
Through Mota‐Engil Real Estate Portugal Sikorki Project Development Sp. z o.o. ("Sikorki")	(Matosinhos) Poland	100,00 100,00		Oct‐12	‐
Through Mota‐Engil Central Europe Polónia	(Cracow)	100,00	Real Estate Development

Designation	Headquarters	Effective holding percentage	Activity	Set up date	Acquisition date
Soltysowska Project Development Sp. z o.o. ("Soltysowska") Through Mota‐Engil Real Estate, SGPS	Poland (Cracow)	100,00 100,00	Real Estate Development	Nov‐05	‐
Senatorska Project Development Sp. z.o.o. ("Senatorska Project Development")	Poland (Cracow)	100,00	Real Estate Development	Nov‐15	‐
Through Mota‐Engil Central Europe Polónia Tetenyi Project Development Ingatlanforgalmazó, Kereskedelmi és Szolgáltató		100,00
Kft ("Tetenyi") Through Mota‐Engil Real Estate, SGPS	Hungary (Budapest)	100,00 100,00	Real Estate Development	Jan‐05	‐
Turalgo‐Sociedade de Promoção Imobiliária e Turística do Algarve, S.A.	Potugal	51,00
("Turalgo") Through Mota‐Engil Real Estate Portugal	(Oeiras)	51,00	Real Estate Development	May‐92	‐
Vibeiras – Sociedade Comercial de Plantas, S.A. ("Vibeiras")	Portugal	66,67	Landscape gardening	Jul‐88	Oct‐98
Through Mota‐Engil Engenharia e Construção Vianor ‐ Construtoras das Auto‐estradas da Costa de Prata A.C.E. ("Vianor ACE	(Torres Novas)	66,67
MEEC") Through Mota–Engil Engenharia e Construção	Portugal (Porto)	83,95 83,95	Realization of construction works and services and providing design	Apr‐00	Dec‐15
VBT ‐ Projectos e Obras de Arquitectura Paisagística, Lda ("VBT")	Angola	43,34		Sep‐08	‐
Through Vibeiras	(Luanda)	33,34	Landscape gardening
Through Mota‐Engil Ambiente e Serviços Wilanow Project Development SP. z.o.o. ("Wilanow")	Poland	10,00 100,00		Jun‐07	‐
Through Mota‐Engil Real Estate, SGPS	(Cracow)	100,00	Real Estate Development
Wilenska Project Development Sp. z.o.o. w likwidacji ("Wilenska") Through Mota‐Engil Real Estate, SGPS	Poland (Cracow)	100,00 100,00	Real Estate Development	Jan‐05	‐
Environment and Services
AGIR ‐ Ambiente e Gestão Integrada de Resíduos, Lda. ("Agir") Through Mota‐Engil Ambiente e Serviços	Cape Verde (Praia)	80,75 50,00	Collection of urban solid waste	Dec‐07	‐
Through Suma		30,75
Algar ‐ Valorização e Tratamento de Resíduos Sólidos, S.A. ("Algar")	Portugal	31,49	Treatment and recovery of urban solid waste	‐	Jun‐15
Through EGF Amarsul‐ Valorização e Tratamento de Resíduos Sólidos, S.A. ("Amarsul")	(Loulé) Portugal	31,49 28,68	Treatment and recovery of urban solid	‐	Jun‐15
Through EGF	(Setúbal)	28,68	waste Exploitation of a co‐generation plant for
CH&P – Combined Heat & Power Anadia, Sociedade Unipessoal, Lda ("CH&P Anadia") Through Manvia	Portugal (Linda‐a‐Velha)	90,00 90,00	the production of electric and thermal energy	May‐11	‐
CH&P – Combined Heat & Power Coja, Unipessoal, Lda ("CH&P Coja")	Portugal	90,00	Exploitation of a co‐generation plant for	May‐11	‐
Through Manvia	(Linda‐a‐Velha)	90,00	the production of electric and thermal energy
Citrave ‐ Centro Integrado de Tratamento de Resíduos de Aveiro, S.A. ("Citrave")		61,50
Through Suma	Portugal (Lisbon)	61,41	Treatment and disposal of non‐hazardous waste	Dec‐87	Oct‐06
Through Novaflex		0,05
Through Suma Esposende Correia & Correia, Lda. ("Correia & Correia")	Portugal	0,05 48,19	Trade and collection of used oils	Sep‐88	Feb‐00
Through Enviroil	(Sertã)	48,19
Enviroil SGPS, Lda. ("Enviroil") Through Suma	Portugal (Torres Novas)	48,19 48,19	Management of financial holdings	Nov‐97	‐
Enviroil II – Reciclagem de Óleos Usados, Lda. ("Enviroil II")	Portugal	43,37	Oil recycling, electricity production and bulk trade of fuels and related products	Apr‐11	‐
Through Enviroil	(Torres Novas)	43,37
Ersuc ‐ Resíduos Sólidos do Centro, S.A. ("Ersuc") Through EGF	Portugal (Coimbra)	32,62 28,94	Treatment and recovery of urban solid waste	‐	Jun‐15
Through Suma Empresa Geral de Fomento, S.A. ("EGF")	Portugal	3,67 56,24	Treatment and recovery of urban solid	‐	Jun‐15
Through Suma Tratamento	(Lisbon)	56,24	waste
Eco Vision LLC ("Eco Vision") Through Suma	Oman (Muscat)	31,37 31,37	Treatment and recovery of urban solid waste	Jul‐15	‐
InvestAmbiente ‐ Recolha de Resíduos e Gestão de Sistemas de Saneamento	Portugal	31,98		Feb‐00	Dec‐07
Básico, S.A. ("Investambiente") Through Novaflex	(Lisbon)	31,98	Collection of non‐hazardous waste
Manvia ‐ Manutenção e Exploração de Instalações e Construção, S.A. ("Manvia")	Portugal	90,00	Maintenance and exploitation of	Jul‐94	Jun‐98
Through Mota–Engil Ambiente e Serviços	(Linda‐a‐Velha)	90,00	installations
Mota‐Engil Europa, S.A. ("Mota‐Engil Europa") Through Mota‐Engil SGPS	Portugal (Linda‐a‐Velha)	100,00 100,00	Management of financial holdings	Jun‐10	‐
Mota‐Engil II, Gestão, Ambiente, Energia e Concessões de Serviços, S.A. ("MEAS II")	Portugal	100,00	Projects' management	Dec‐03	‐
Through Mota‐Engil Europa	(Porto)	100,00
Mota‐Engil, Ambiente e Serviços, SGPS, S.A. ("Mota‐Engil Ambiente e Serviços")	Portugal	100,00	Management of financial holdings	Jun‐97	‐
Through Mota‐Engil Europa	(Porto)	100,00

Designation	Headquarters	Effective holding percentage	Activity	Set up date	Acquisition date
Nova Beira ‐ Gestão de Resíduos, S.A. ("Nova Beira")	Portugal	30,85	Treatment and disposal of non‐hazardous	‐	Dec‐07
Through Novaflex	(Lisbon)	20,30	waste
Through Investambiente		10,55
Novaflex ‐ Técnicas do Ambiente, S.A. ("Novaflex") Through Suma	Portugal (Lisbon)	61,50 61,50	Collection of other non‐hazardous waste	‐	Dec‐07
PTT ‐ Parque Tecnológico do Tâmega, S.A. ("PTT")	Portugal	90,00		Dec‐06	‐
Through Proempar	(Felgueiras)	70,00	Marketing and management of
Through Mota‐Engil Ambiente e Serviços		10,00	technological business hosting
Through Mota‐Engil Engenharia e Construção		10,00
Real Verde ‐ Técnicas de Ambiente, S.A. ("Real Verde")	Portugal	61,50	Treatment and disposal of other non‐	Dec‐07	‐
Through Novaflex	(Vila Real )	61,50	hazardous waste
Resiges ‐ Gestão de Resíduos Hospitalares, Lda. ("Resiges")	Portugal	61,50	Collection of hazardous waste	May‐98	Dec‐07
Through Novaflex	(Setúbal)	61,50
Resilei – Tratamento de Resíduos Industriais, S.A. ("Resilei")	Portugal	30,75	Treatment and disposal of other non‐	‐	Jun‐03
Through Suma	(Leiria)	30,75	hazardous waste
Resiestrela ‐ Valorização e Tratamento de Resíduos Sólidos, S.A. ("Resiestrela")	Portugal	35,40	Treatment and recovery of urban solid
	(Castelo Branco)		waste	‐	Jun‐15
Through EGF		35,40
Resinorte ‐ Valorização e Tratamento de Resíduos Sólidos, S.A. ("Resinorte")	Portugal	42,24	Treatment and recovery of urban solid	‐	Jun‐15
	(Braga)		waste
Through EGF		42,24
Resulima ‐ Valorização e Tratamento de Resíduos Sólidos, S.A. ("Resulima")	Portugal	28,68	Treatment and recovery of urban solid	‐	Jun‐15
Through EGF	(Viana do Castelo)	28,68	waste
Rima – Resíduos Industriais e Meio Ambiente, S.A. ("Rima")	Portugal	59,12	Treatment of industrial waste	Aug‐01	‐
Through Suma	(Lourosa)	59,12
SIGA ‐ Sistema Integrado de Gestão Ambiental, S.A. ("Siga")	Portugal	43,05	Treatment and disposal of non‐hazardous	Oct‐08	‐
Through Suma	(Ponta Delgada)	43,05	waste
Suldouro ‐ Valorização e Tratamento de Resíduos Sólidos, S.A. ("Suldouro")	Portugal	33,74	Treatment and recovery of urban solid
	(Vila Nova de Gaia)		waste	‐	Jun‐15
Through EGF		33,74
SRI ‐ Gestão de Resíduos, Lda ("SRI")	Portugal	48,19	Collection of hazardous waste	Jul‐08	‐
Through Correia & Correia	(Sertã)	48,19
SIGAMB ‐ Sistemas de Gestão Ambiental, Lda. (Angola) ("SIGAMB")	Angola (Luanda)	61,44	Technical studies, consulting and environmental trainning	Feb‐14	‐
Through Novaflex Suma (Douro) ‐ Serviços Urbanos e Meio Ambiente, Lda. ("Suma Douro")	Portugal	61,44 61,50	Collection of urban solid waste	Jul‐00	‐
Through Suma	(Murça)	61,50
Suma (Esposende) ‐ Serviços Urbanos e Meio Ambiente, Lda. ("Suma	Portugal		Collection of urban solid waste
Esposende")	(Esposende)	61,50		Dec‐99	‐
Through Suma		61,50
Suma (Macau), Lda. ("Suma Macau")	China	60,89	Collection of urban solid waste	‐	Dec‐13
Through Suma	(Macau)	60,89
Suma (Matosinhos) ‐ Serviços Urbanos e Meio Ambiente, S.A. ("Suma	Portugal	61,50	Collection of urban solid waste	Dec‐00	‐
Matosinhos")	(Matosinhos)
Through Suma		61,50
Suma (Porto) ‐ Serviços Urbanos e Meio Ambiente, S.A. ("Suma Porto") Through Suma	Portugal (Porto)	61,50 61,50	Collection of urban solid waste	Nov‐08	‐
Suma Tratamento, S.A. ("Suma Tratamento")		59,20		Oct‐14	‐
Through Suma		49,19
Through Suma Esposende	Portugal	0,01	Collection of urban solid waste
Through Novaflex	(Lisbon)	0,01
Through Mota‐Engil Ambiente e Serviços		10,00
Suma – Serviços Urbanos e Meio Ambiente, S.A. ("Suma")	Portugal	61,50	Collection of urban solid waste	Jun‐94	‐
Through Mota‐Engil Ambiente e Serviços	(Lisbon)	61,50
Takargo‐Trasporte de Mercadorias, S.A. ("Takargo")	Portugal	100,00	Rail transport of goods	Oct‐06	‐
Through Mota‐Engil Ambiente e Serviços	(Linda‐a‐Velha)	100,00
Tratofoz ‐ Sociedade de Tratamento de Resíduos, S.A. ("Tratofoz") Through Mota‐Engil Ambiente e Serviços	Portugal (Porto)	99,62 99,00	Collection of urban solid waste	Oct‐02	‐
Through Suma		0,62
Triu ‐ Técnicas de Resíduos Industriais e Urbanos, S.A. ("Triu")	Portugal	48,19		Apr‐91	Sep‐08
Through Enviroil	(Loures)	48,19	Collection of non‐hazardous waste
Triaza ‐ Tratamento de Resíduos Industriais da Azambuja, S.A. ("Triaza")	Portugal	61,50	Collection of non‐hazardous waste	Nov‐15	Sep‐08
Through Suma	(Azambuja)	61,50
Valnor ‐ Valorização e Tratamento de Resíduos Sólidos, S.A. ("Valnor")	Portugal	29,99	Treatment and recovery of urban solid	‐	Jun‐15
Through EGF	(Portalegre)	29,99	waste
Valorlis ‐ Valorização e Tratamento de Resíduos Sólidos, S.A. ("Valorlis") Through EGF	Portugal (Leiria)	28,68 28,68	Treatment and recovery of urban solid waste	‐	Jun‐15
Valorminho ‐ Valorização e Tratamento de Resíduos Sólidos, S.A.
("Valorminho")	Portugal	28,68	Treatment and recovery of urban solid	‐	Jun‐15
Through EGF	(Valença)	28,68	waste
Valorsul ‐ Valorização e Tratamento de Resíduos Sólidos das Regiões de Lisbon
e do Oeste, S.A. ("Valorsul")	Portugal (Loures)	29,77	Treatment and recovery of urban solid waste	‐	Jun‐15
Through EGF		29,77

Designation	Headquarters	Effective holding percentage	Activity	Set up date	Acquisition date
Africa
Akwangola, S.A. ("Akwangola")	Angola	27,94		Dec‐10	Dec‐13
Through Vista Water	(Luanda)	27,94	Exploitation of water market
Cecot ‐ Centro de Estudos e Consultas Técnicas, Lda. ("Cecot")	Mozambique	99,70	Construction works' projects and	Sep‐98	Apr‐11
Through MEEC África	(Maputo)	99,70	inspection
Cosamo (Proprietary) Limited ("Cosamo")	South Africa	99,70	Commercial	Dec‐76	‐
Through Mota Internacional Ecolife, S.A. ("Ecolife")	(Johannesburg) Mozambique	99,70 58,33
Through Mota‐Internacional	(Maputo)	39,88	Collection of urban solid waste	Dec‐13	‐
Through Suma		18,45
Fatra ‐ Fábrica de Trefilaria de Angola, S.A. ("Fatra")	Angola	35,59	Manufacturing of iron‐derived products	‐	Nov‐10
Through Mota‐Engil Angola	(Luanda)	35,59
Fibreglass Sundlete (Mozambique), Lda. ("Fibreglass")	Mozambique	99,70	Commercial	Aug‐62	Mar‐99
Through ME Mauritius Indimo, Lda. ("Indimo")	(Maputo) Mozambique	99,70 99,70		‐	Oct‐04
Through Cecot	(Maputo)	49,85	Real Estate Development
Through MEEC África		49,85
Liwonde Logostics Platform Limited ("Liwonde Logistics Platform Ltd")	Malawi	99,34		Jun‐15	‐
Through ME Investments Malawi		50,34	Management of societies' management
Through MEEC Africa – Malawi Branch	(Lilongwe)	49,00
Mota‐Engil Engenharia e Construção África, S.A. ("MEEC África") Through Mota‐Engil África N.V.	Portugal (Porto)	99,70 99,70	Construction works	Aug‐12	‐
Mota‐Engil África, N.V. ("ME África NV")	Netherlands	99,70		Oct‐12	‐
Through Mota‐Engil SGPS	(Amesterdam)	99,70	Management of societies' management
Mota‐Engil África, SGPS, S.A. ("Mota‐Engil África")	Portugal	99,70		May‐10	‐
Through MEEC África	(Porto)	99,70	Management of financial holdings
Mota‐Engil África Finance B.V. ("ME África Finance BV")	Netherlands	99,70	Management of societies' management	May‐14	‐
Through Mota‐Engil África N.V.	(Amesterdam)	99,70
Mota‐Engil África Global Technical Services B.V. ("ME África GTS BV")	Netherlands	99,70	Management of societies' management	May‐14	‐
Through Mota‐Engil África N.V.	(Amesterdam)	99,70
Mota Internacional – Comércio e Consultadoria Económica, Lda. ("Mota Internacional")	Portugal	99,70	Trade and management of international	Sep‐97	Dec‐98
Through Mota‐Engil África	(Funchal )	99,70	holdings
Mota‐Engil África Mozambique, Lda. ("Emocil")	Mozambique	99,70		Jul‐94	‐
Through MEEC África	(Maputo)	49,85	Real Estate Development
Through Indimo		49,85
Mota‐Engil Angola, S.A. ("Mota‐Engil Angola") Through Mota Internacional	Angola (Luanda)	50,85 50,85	Construction works and public and private works	May‐10	‐
Malawi Ports Company Limited ("Malawi Ports Company")	Malawi	99,70		Nov‐10	‐
Through MEEC África	(Lilongwe)	87,74	Sea transport
Through ME Malawi		11,96
Malawi Shipping Company Limited ("Malawi Shipping Company")	Malawi	99,70		Nov‐10	‐
Through MEEC África Through ME Malawi	(Lilongwe)	87,74 11,96	Sea transport
Martinox, SA ("Martinox")	Angola	48,30		Feb‐08	Dec‐11
Through Mota‐Engil Angola	(Benguela)	48,30	Stainless steel works
Mota & Companhia Maurícias, Lda. ("ME Maurícias")	Mauritius	99,70	Construction works	May‐10	‐
Through MEEC África	(Ebene)	99,70
Mota‐Engil Africa (PTY) Limited ("ME Africa PTY")	South Africa	99,70		Nov‐15
Through Mota‐Engil África N.V. Through MEEC África	(Johannesburg)	94,72 4,99	Management of societies' management		‐
Mota‐Engil Construction South Africa, Pty Ltd ("ME Construction South Africa")	South Africa (Johannesburg)	50,85	Construction works	Mar‐14	‐
Through Mota‐Engil Investments South Africa		50,85
Mota‐Engil (Malawi) Limited ("ME Malawi")	Malawi	99,69	Public works and /or construction works	Jul‐11	‐
Through MEEC África Mota‐Engil Investments (Malawi) Limited ("ME Investments Malawi")	(Lilongwe) Malawi	99,69 98,70	contractor Public works and /or construction works	Mar‐11	‐
Through Mota‐Engil Africa	(Lilongwe)	98,70	contractor
Mota‐Engil Investments South Africa, Pty Ltd ("Mota‐Engil Investments South	South Africa	50,85	Public works and /or construction works	‐	Mar‐14
Africa")	(Johannesburg)		contractor
Through Mota Internacional		50,85
Mota‐Engil S.Tomé e Principe, Lda. ("Mota‐Engil S.Tomé") Through Mota Internacional	S. Tomé and Príncipe (S. Tomé)	99,70 94,72	Public works and /or construction works	Dec‐04	‐
Through MEEC África		4,99	contractor
Novicer‐Cerâmicas de Angola,(SU) Limitada. ("Novicer")	Angola	50,85		Sep‐07	‐
Through Mota‐Engil Angola	(Luanda)	50,85	Manufacturing and trade in clay goods
Prefal – Préfabricados de Luanda, Lda. ("Prefal")	Angola	45,76	Manufacturing of prestressed goods	Dec‐93	‐
Through Mota‐Engil Angola	(Luanda)	45,76
Penta ‐ Engenharia e Construção, Lda. ("Penta") Through MEEC África	Cape Verde	99,70 95,71	Construction works and public and	Apr‐07	‐
Through Mota Internacional	(Praia)	3,99	private works
Rentaco Angola ‐ Equipamentos e Transportes, (SU) Limitada. ("Rentaco
Angola")	Angola	50,85	Rental of construction equipment	Jan‐08	‐
Through Mota‐Engil Angola	(Luanda)	50,85

Sonauta ‐ Sociedade de Navegação, Lda. ("Sonauta") 99,70 Sea transport, excluding coastal Nov‐94 ‐ Angola transport Through Mota Internacional (Luanda) 99,70 Tracevia Angola ‐ Sinalização, Segurança e Gestão de Tráfego, Lda. ("Tracevia Angola 40,68 ‐ Sep‐07 Angola") (Luanda) Road signs Through Mota‐Engil Angola 40,68 Vista Energy Environment & Services, S.A. ("Vista SA") Angola 50,85 Jul‐08 Dec‐13 Management of financial holdings Through Mota‐Engil Angola (Luanda) 50,85 Vista Waste Management, Lda. ("Vista Waste") Angola 56,07 Dec‐09 Dec‐13 Through Mota‐Engil Angola (Luanda) 5,08 Collection of waste Through Vista SA 20,85 Through Suma 30,14 Vista Multi Services, Lda. ("Vista Multi Services") Angola 50,85 May‐09 Dec‐13 Urban services Through Vista SA (Luanda) 40,68 Through Mota‐Engil Angola 10,17 Vista Water, Lda. ("Vista Water") Angola 27,97 May‐09 Dec‐13 Through Mota‐Engil Angola (Luanda) 6,36 Exploitation of the water market Through Vista SA 21,61 Latin America APP Coatzacoalcos Villahermosa S.A.P.I. de C.V. ("APP Villahermosa") Mexico 37,74 Construction and public works Oct‐16 (Mexico City) Through Mota‐Engil México 37,74 ‐ Consita Tratamento de Resíduos, S.A. ("Consita") Brazil 54,93 Treatment of waste ‐ Dec‐14 Through ECB Suma Participações (Belo Horizonte) 54,93 Consórcio Los Castãnos ("Consórcio Los Castãnos") Peru 100,00 ‐ Construction of apartements Dec‐11 (Lima) Through Mota‐ Engil Peru 100,00 Consórcio Mota‐Engil Ojeda & Iju Paracas ("Consorcio ME Ojeda & Iju") Peru 100,00 ‐ Construction of apartements Dec‐11 (Lima) Through Mota‐ Engil Peru 100,00 Consórcio Fanning ("Consorcio Fanning") Peru 100,00 ‐ Construction of apartements Dec‐11 Through Mota‐ Engil Peru (Lima) 100,00 Consórcio Porta ("Consorcio Porta") Peru 100,00 ‐ Construction of apartements Dec‐11 (Lima) Through Mota‐ Engil Peru 100,00 Consórcio La Ponciana ("Consorcio La Ponciana") Peru 100,00 ‐ Construction of apartements Dec‐11 (Lima) Through Mota‐ Engil Peru 100,00 Consórcio GDL Viaduto, S.A.P.I de CV ("Consórcio GDL Viaduto") Mexico 21,88 Jun‐14 ‐ Construction and public works (Mexico City) Through Mota‐Engil México 21,88 Consórcio Túnel Guadalajara, SAPI de CV ("Consórcio GDL Túnel") Mexico 21,88 Jul‐14 ‐ Construction and public works (Mexico City) Through Mota‐Engil México 21,88 Construcciones dos Puertos S.A. de CV ("Construcciones dos Puertos") Mexico 35,70 Jul‐12 ‐ Construction and public works (Xalapa) Through Mota‐Engil Mexico 35,70 Empresa Construtora Brasil, S.A. ("Empresa Construtora Brasil") Brazil 50,00 Nov‐12 ‐ Construction and public works Through MEBR Construções, Consultoria e Participações, S.A. (Belo Horizonte) 50,00 ECB Suma Participações, S.A. ("ECB Suma Participações") 54,93 Dec‐14 ‐ Brazil Through Empresa Construtora Brasil 28,58 Management of financial holdings (Belo Horizonte) Through Suma 26,35 Flame Investments, B.V. ("Flame Investments") Netherlands 52,00 Mar‐15 ‐ Management of financial holdings Through Mota‐Engil Latin America BV (Amesterdam) 52,00 FSE Comercializadora Fenix, S.A.P.I. de CV ("FSE Comercializadora Fenix") 28,34 Sep‐16 ‐ Mexico Commercialization of electricity and Through Mota‐Engil Energia 28,33 (Mexico City) associated products Through Mota‐Engil América Latina SAPI de CV 0,01 FSE Suministradora Fenix, S.A.P.I. de CV ("FSE Suministradora Fenix") 28,34 Aug‐16 ‐ Mexico Through Mota‐Engil Energia 28,33 Energy Production (Mexico City) Through Mota‐Engil América Latina SAPI de CV 0,01 Generadora Fenix ("Generadora Fenix") Mexico 26,27 Sep‐15 ‐ Energy Production Through ME Energia operacional (Mexico City) 26,27 Mota‐Engil Energy B.V. ("Mota‐Engil Energy BV") Netherlands 28,86 Sep‐15 ‐ Finance and consulting Through Flame Investments (Amesterdam) 28,86 MEBR Construções, Consultoria e Participações, S.A. ("MEBR") 100,00 Mar‐11 ‐ Brazil Through Mota‐Engil Latin America BV 57,69 Construction and public works (São Paulo) Through Mota‐Engil Latam Peru 42,31	Designation	Headquarters	Effective holding percentage	Activity	Set up date	Acquisition date

Designation	Headquarters	Effective holding percentage	Activity	Set up date	Acquisition date
ME Energy Holding ("ME Energy Holding ")	Netherlands	28,87	Management of financial holdings	Nov‐15	‐
Through Mota‐Engil Energy BV Mota‐Engil Dominicana S.A.S ("Mota‐Engil Dominicana")	(Amesterdam) Dominican Republic	28,87 60,00	Construction and public works	Nov‐14	‐
Through Mota‐Engil Latin America BV Mota‐Engil Latin America BV ("ME Latin America")	(Santo Domingo) Netherlands	60,00 100,00			‐
Through Mota‐Engil SGPS Mota‐Engil Latam Peru ("Mota‐Engil Latam Peru")	(Amesterdam)	100,00 100,00	Management of financial holdings	Nov‐15	‐
Through Mota‐Engil Latin America BV Through Mota‐Engil Engenharia e Construção	Peru (Lima)	99,90 0,10	Management of financial holdings	Dec‐15
Mota‐Engil Peru‐ Ambiente, S.A. ("Mota‐Engil Peru Ambiente") Through Mota‐Engil Engenharia e Construção Through Mota‐Engil Peru	Peru (Lima)	100,00 0,03 99,97	Exploitation of terminals	‐	‐
Mota‐Engil América Latina S.A.P.I. de C.V. ("Mota‐Engil América Latina") Through Mota‐Engil SGPS Through Mota‐Engil Latin America BV	Mexico (Mexico City)	100,00 0,02 99,98	Management of financial holdings	Nov‐13	May‐14
Mota‐Engil Chile S.A. ("Mota‐Engil Chile") Through Mota‐ Engil Latam Portugal Through Mota‐ Engil Engenharia e Construção	Chile (Santiago)	100,00 99,00 1,00	Construction and public works	Feb‐13	‐
Mota‐Engil Colombia, S.A.S ("Mota‐Engil Colombia") Through Mota‐Engil Latam Peru	Colombia (Bogotá)	100,00 100,00	Construction and public works	Feb‐11	‐
Mota‐Engil Col, S.A.S ("Mota‐Engil Col") Through Mota‐Engil Engenharia e Construção Through Mota‐Engil Peru	Colombia (Bogotá)	100,00 99,00 1,00	Construction and public works	Feb‐14	‐
ME Energia operacional ("ME Energia operacional") Through Mota‐Engil Energy Holding Through Mota‐Engil América Latina SAPI de CV	Mexico (Mexico City)	28,87 28,87 0,00	Development and energy production operation	Sep‐15	‐
Mota‐Engil Prodi S.A.P.I. de C.V. ("Mota‐Engil Prodi") Through Mota‐Engil Mexico	Mexico (Mexico City)	25,55 25,55	Construction and public works	Feb‐14	‐
Mota‐Engil Latam Portugal, S.A.("Mota‐Engil Latam Portugal") Through Mota‐Engil Latin America BV	Portugal (Porto)	100,00 100,00	Management of financial holdings	Jul‐15	‐
Mota‐Engil Energia Peru S.A. ("Mota‐Engil Energia Peru") Through Mota‐Engil Peru Through Mota‐Engil Engenharia e Construção	Peru (Lima)	100,00 99,98 0,02	Other business activities	May‐11	‐
Mota‐Engil Tourism, B.V.("Mota‐Engil Tourism BV") Through Flame Investments	Netherlands (Amesterdam)	43,13 43,13	Management of financial holdings	Sep‐15	‐
Mota‐Engil Mexico, S.A. de C.V. ("Mota‐Engil Mexico") Through Mota‐Engil Latin America BV Through Mota‐Engil América Latina SAPI Through da Mota Internacional	Mexico (Mexico City)	51,00 19,18 31,82 0,00	Construction and public works	Jan‐10	‐
Mota‐Engil Turismo, S.A. de CV ("Mota‐Engil Turismo operacional") Through Mota‐Engil Turismo Holding	Mexico (Mexico City)	43,13 43,13	Real Estate and Tourism	Feb‐15	‐
Mota‐Engil Turismo Holding, S.A.P.I. de C.V. ("Mota‐Engil Turismo Holding") Through Mota‐Engil Tourism BV Through Mota‐Engil México	Mexico (Mexico City)	43,13 43,12 0,01	Management of financial holdings	Jun‐15	‐
Mota‐Engil Peru, S.A. ("Mota‐Engil Peru") Through Mota‐Engil Latin America BV Through Mota‐Engil Engenharia e Construção	Peru (Lima)	100,00 99,90 0,10	Construction and public works	Sep‐86	‐
Global Technical Services Latam BV ("Global Technical Services Latam") Through Mota‐Engil Latin America BV	Netherlands (Amsterdam)	100,00 100,00	Management of financial holdings	Jul‐16	‐
Mota‐Engil Aruba Holding Company VBA ("Mota‐Engil Aruba Holding") Through Mota‐Engil Latin America BV	Aruba (Oranjestad)	100,00 100,00	Management of financial holdings	Dec‐15	‐
Mota‐Engil Aruba Construction Company N.V. ("Mota‐Engil Aruba Construction ") Through da Mota‐Engil Aruba Holding Company VBA	Aruba (Oranjestad)	100,00 100,00	Construction and public works	Jan‐12	Apr‐2016
Promotora Inmobiliaria Santa Clara, S.A. ("Santa Clara") Through Mota‐ Engil Peru	Peru (Lima)	100,00 100,00	Property promotion services	May‐12	‐
Puente Boca del Rio S.A. De C.V.("Puente Boca del Rio") Through Mota‐Engil México Through Mota–Engil Engenharia e Construção	Mexico (Mexico City)	58,35 43,35 15,00	Construction and public works	May‐16	‐
Tarucani Generating Company, S.A. ("Tarucani") Through Mota‐ Engil Energia Peru Through Mota‐ Engil Peru	Peru (Lima)	100,00 99,98 0,02	Generation and distribution of electric energy	Apr‐00	‐
Tracevia do Brazil ‐Sistemas de Telemática Rodoviaria Ltda. ("Tracevia Brazil") Through MEBR Engenharia, Consultoria e Participações, Ltda.	Brazil (São Paulo)	99,99 99,99	Design, installation, development and maintenance of ITS	Mar‐11	‐

Investments recorded through the equity method

The companies included in the consolidation using the equity method, their headquarters and effective holding percentage as at June 30, 2017, are as follows:

Associate companies Parent Company of the Group and related activities Nortenha Angola, SGPS, S.A. ("Nortenha") Portugal 29,99 Riscos e Diâmetros Angola, SGPS, S.A. ("Riscos e Diâmetros Angola") Portugal 30,10 SMGT Angola, SGPS, SA ("SMGT") Portugal 29,99 Sangobiar Perú, S.A. ("Sangobiar") Peru 29,99 Sunviauto México ("Sunviauto Mexico") México 29.99 Sunviauto Internacional, SGPS, S.A. ("Sunviauto Internacional") Portugal 29,99 Vitropor Moçambique, SGPS, S.A. ("Vitropor Moçambique") Portugal 30,10 Europe ‐ Engineering and Construction Ibercargo Rail, S.A. ("Ibercargo") Spain 50,00 Europe ‐ Environment and Services Ambilital – Investimentos Ambientais no Alentejo, EIM. ("Ambilital") Portugal 30,14 Citrup – Centro Integrado de Resíduos, Lda. ("Citrup") Portugal 18,45 Ecolezíria ‐ Empresa Intermunicipal para Tratamento de Resíduos Sólidos, E. I. M. ("Ecolezíria") Portugal 15,07 Haçor, Conc. Edi fício do Hospital da Ilha Terceira, S.A. ("Haçor") Portugal 40,00 HL ‐ Sociedade Gestora do Edi fício, S.A. ("HL ‐ Sociedade Gestora do Edifício") Portugal 50,00 Logz ‐ Atlantic Hub, S.A. ("Logz") Portugal 30,00 Manvia II Condutas, Lda. ("Manvia II Condutas") Portugal 45,00 Manvia Condutas Moçambique, Lda. ("Manvia Condutas Moçambique") Mozambique 47,25 AGS, Manvia e Indaqua, ACE ("GESAR (ACE Manvia)") Portugal 32,40 Africa Automatriz, S.A. ("Automatriz") Angola 25,42 Icer – Indústria de Cerâmica, Lda. ("Icer") Angola 25,42 Mebisa ‐ Minerais e Britagens, S.A. ("Mebisa") Angola 15,25 Condutas MM Angola ("MM Angola") Angola 30,10 Vista Power, Lda. ("Vista Power") Angola 25,42 SPRI ‐ Sociedade Portuguesa de Realizações, S.A. ("SPRI") Angola 39,89 STM ‐ Sociedade de Terminais de Moçambique, Lda ("STM") Mozambique 49,85 Latin America Autopista Urbana Siervo de la Nacion, SAPI de CV ("Autopista Siervo de la Nacion") Mexico 17,49 Concessionária Autopista Cardel ‐Poza Rica SA de CV ("Concessionária Autopista Cardel") Mexico 28,73 Concessionária Autopista Tuxpan‐Tampico SA de CV ("Concessionária Autopista Tuxpan‐Tampico") Mexico 25,85 Consórcio Mepax Ltd ("Consórcio Mepax Limitada") Chile 49,90 Consórcio Mota‐Engil Colômbia ("Consórcio ME Colômbia") Colômbia 38,06 Construtora Tuxpan Tampico ("Construtora Tuxpan Tampico") Mexico 17,03 Constructora Auto‐Pista Perote Xalapa, SA de CV ("Constructora Perote Xalapa") Mexico 25,50 Constructora Concessionária Autopista Cardel ‐Poza Rica, S.A. de CV ("Constructora Cardel ‐Poza Rica") Mexico 20,40 Constructora M&R, S.A. de C.V. ("Constructora M&R") Mexico 10,20 Constructora Gran Canal SAPI de CV ("Construtora Gran Canal") Mexico 17,03 Eco Innovacion Ambiental SAPI de CV ("Eco Innovacion") Mexico 17,85	Designation	Headquarters	Effective holding percentage
	Gestion e Innovacion en Servicios Ambientales SA de CV ("GISA")	Mexico	25,50
M&R de Occidente SAPI de CV ("Concessionária M&R") Mexico 20,00
Martifer Group Portugal 37,50

Jointly controlled operations

The jointly controlled operations included in the consolidation, their headquarters and effective holding percentage as at June 30, 2017, are as follows:

Designation	Headquarters	Effective holding percentage	Activity	Set up date	Acquisition date
Jointly controlled companies
Latin America
Consórcio Vial Acobamba ("Consórcio Vial Acobamba")	Peru	100 00 50.00	Construction works	Jun‐13	‐
Through Mota‐ Engil Peru	(Lima)	50.00
Consórcio Vial Tambillo ("Consórcio Vial Tambillo")	Peru	50.00	Construction works	Jan‐13	‐
Through Mota‐ Engil Peru	(Lima)	50.00
Consórcio Vial Vizcachane ("Consórcio Vial Vizcachane ")	Peru	50.00	Construction works	Dec‐15	‐
Through Mota‐ Engil Peru	(Lima)	50.00
Consórcio Mota‐Engil TR ("Consórcio Mota‐Engil TR")	Peru	50.00	Construction works	Nov‐14	‐
Through Mota‐ Engil Peru	(Lima)	50.00
Consórcio Mota‐Engil Peru HL Paita ("Consórcio Mota‐Engil Peru HL Paita")	Peru	50.00	Construction works	Aug‐13	‐
Through Mota‐ Engil Peru	(Lima)	50.00
Consórcio Vial el Descanso‐Langui ("Consórcio Vial el Descanso‐Langui")	Peru	50.00	Construction works	Oct‐10	‐
Through Mota‐ Engil Peru	(Lima)	50.00
Consórcio Vial Sur del Peru ("Consórcio Vial Sur del Peru")	Peru	50.00	Construction works	Nov‐10	‐
Through Mota‐ Engil Peru	(Lima)	50.00
Consórcio Vial Valle Sagrado ("Consórcio Vial Valle Sagrado") Through Mota‐ Engil Peru	Peru (Lima)	50.00 50.00	Construction works	Jun‐10	‐
Stracon Translei Joint Venture ("Stracon Translei Joint Venture")	Peru	50.00			‐
Through Mota‐ Engil Peru	(Lima)	50.00	Construction works	Apr‐10
Consórcio Vial Jaylli ("Consórcio Vial Jaylli")	Peru	42.50			‐
Through Mota‐ Engil Peru	(Lima)	42.50	Construction works	Dec‐14
Translei Consórcio Cosapi ("Translei Consórcio Cosapi")	Peru	50.00			‐
Through Mota‐ Engil Peru	(Lima)	50.00	Construction works	Jan‐03
Translei Consórcio Cusco‐Quillabanba ("Translei Consórcio Cusco‐Quillabanba")	Peru	50.00			‐
Through Mota‐ Engil Peru	(Lima)	50.00	Construction works	Mar‐10
Consórcio Conservacion Vial Santa Rosa ("Consórcio Conservacion Vial Santa Rosa")	Peru	50.00			‐
Through Mota‐ Engil Peru	(Lima)	50.00	Construction works	Dec‐15
Consórcio MEC‐Av.Malecon‐UF1 ("Consórcio MEC‐Av.Malecon‐UF1")	Colômbia	98.75
Through da Mota‐Engil Col S.A.S	(Buenaventura)	98.74	Construction works	May‐16	‐
Through da Mota‐Engil Engenharia e Construção ‐ Sucursal Colômbia		0.01
Consórcio MEC‐Av.Malecon‐UF2 ("Consórcio MEC‐Av.Malecon‐UF2")	Colômbia	98.75
Through da Mota‐Engil Col S.A.S	(Bogotá)	98.74	Construction works	May‐16	‐
Through da Mota‐Engil Engenharia e Construção ‐ Sucursal Colômbia		0.01
Consórcio MEC‐Arroyo De La Carrera	Colômbia	98.75
Through da Mota‐Engil Col S.A.S	(Bogotá)	98.74	Construction works	Sep‐16	‐
Through da Mota‐Engil Engenharia e Construção ‐ Sucursal Colômbia	Dominican Republic (Santo	0.01
Consórcio Mota‐Engil Dominicana SAS/IEMCA (Consórcio Mota‐Engil Dominicana)	Domingo)	42.00	Construction and public works	May‐16	‐
Through Mota‐Engil Dominicana		42.00

Jointly controlled entities ‐ "Agrupamentos Complementares de Empresas"

The jointly controlled entities ("Agrupamentos Complementares de Empresas") included in the consolidation, their headquarters and effective holding percentage as at June 30, 2017, are as follows:

Designation	Headquarters	Effective holding percentage
Jointly controlled entities ‐ "Agrupamentos Complementares de Empresas"
In activity
Barragem de Foz Tua ACE	Portugal	33,34%
Via Rápida Câmara Lobos ECL, ACE	Portugal	36,42%
In warranty period
Mota‐Engil, Soares da Costa, Monteadriano ‐ Matosinhos, ACE	Portugal	42,86%
GCVC, ACE (Grupo Construtor de Vila do Conde)	Portugal	42,86%
Mota‐Engil, Zagope, URBASER, ACE	Portugal	38,50%
Pinhal ‐ Construtoras das Estradas do Pinhal Interior, ACE	Portugal	53,52%
EXPI ‐ Expropriações do Pinhal Interior, ACE	Portugal	37,08%
DIACE ‐ Construção Auto Estrada Douro Interior, ACE	Portugal	53,10%
DIEXP ‐ Expropriações do Douro Interior, ACE	Portugal	37,08%
LGC ‐ Linha Gondomar, Construtores, ACE	Portugal	30,00%
Haçor C ‐ Construção do Edifício do Hospital da Ilha Terceira, ACE	Portugal	43,25%
HL Construção, ACE	Portugal	65,00%
GLEX ‐ Expropriações da Grande Lisboa, ACE	Portugal	42,08%
GACE ‐ Gondomar ACE	Portugal	24,00%
Norace ‐ Construtoras das Auto Estradas Norte, ACE	Portugal	43,44%
Vianor ‐ Construtora das Auto‐Estradas da Costa da Prata, ACE	Portugal	43,20%
Lusitânia ‐ Construtora das Auto Estradas da Beira Litoral e Alta, ACE	Portugal	43,20%
Portuscale ‐ Construção da Auto Estrada do Grande Porto, ACE	Portugal	39,75%
Reforço de Potência da Barragem de Venda Nova III, ACE	Portugal	28,33%
Somague, BCP, Mota‐Engil, SPIE ‐ Linha Vermelha do Metropolitano em ACE	Portugal	23,68%
Metroligeiro ‐ Construtora de Infra ‐ Estruturas, ACE	Portugal	53,20%
Waiting for liquidation
António Veiga, Engil, Ilídio Monteiro e José Bento Pedroso e Filhos, ACE	Portugal	25,00%
Construções Técnicas Engil, ACE	Portugal	50,00%
Engil e Icosal, ACE	Portugal	86,00%
GLACE ‐ Construtoras das Auto Estradas da Grande Lisboa, ACE	Portugal	52,87%
Soares da Costa Engil, ACE ‐ Novo Hospital de Tomar	Portugal	50,00%
Grupo Construtor do Edifício Gil Eanes, ACE	Portugal	50,00%
Engil e OPCA em ACE	Portugal	50,00%

Declaration under the terms of article 246, no. 1, caption c), of CVM (Securities Code)

Under the terms of article 246, no. 1, caption c) of the Securities Code, the members of the Board of Directors declare that, to the best of their knowledge, the information contained in this report and accounts has been drawn up according to the International Financial Reporting Standards (IFRS) as adopted by the European Union, providing a true and appropriate image of assets and liabilities, the financial situation and the results of MOTA‐ENGIL, SGPS, SA and the companies included in the consolidation perimeter, and that this management report faithfully expresses the evolution of the business, the performance and the position of MOTA‐ENGIL, SGPS, SA and the companies included in the consolidation perimeter, and contains a description of the main risks and uncertainties with which they are confronted.

Porto, August 30, 2017

António Manuel Queirós Vasconcelos da Mota Chairman of the Board of Directors

Gonçalo Nuno Gomes de Andrade Moura Martins Deputy‐chairman of the Board of Directors and President of the Executive Committee (Chief Executive Office)

Arnaldo José Nunes da Costa Figueiredo Deputy‐chairman of the Board of Directors

Maria Manuela Queirós Vasconcelos Mota dos Santos Member of the Board of Directors

Maria Teresa Queirós Vasconcelos Mota Neves da Costa Member of the Board of Directors

Maria Paula Queirós Vasconcelos Mota de Meireles Member of the Board of Directors

Ismael Antunes Hernandez Gaspar Member of the Board of Directors and Member of the Executive Committee

Carlos António Vasconcelos Mota dos Santos Member of the Board of Directors and Member of the Executive Committee

José Pedro Matos Marques Sampaio de Freitas Member of the Board of Directors and Member of the Executive Committee (Chief Financial Officer)

António Martinho Ferreira Oliveira Member of the Board of Directors and Member of the Executive Committee

João Pedro dos Santos Dinis Parreira Member of the Board of Directors and Member of the Executive Committee

Eduardo João Frade Sobral Pimentel Member of the Board of Directors and Member of the Executive Committee

Manuel António da Fonseca Vasconcelos da Mota Member of the Board of Directors and Member of the Executive Committee

Luís Filipe Cardoso da Silva Member of the Board of Directors

Luís Francisco Valente de Oliveira Non‐executive and independent member of the Board of Directors

António Bernardo Aranha da Gama Lobo Xavier Non‐executive and independent member of the Board of Directors

António Manuel da Silva Vila Cova Non‐executive and independent member of the Board of Directors

Information regarding transactions over own shares, under the terms of Article 66 no. 5 caption d) of the Commercial Companies Code

Under the terms defined in caption d) of no. 5 of article 66º of the Commercial Companies Code, we hereby declare that, during the first half of 2017, MOTA‐ENGIL, SGPS SA did not proceed with any transaction over own shares. Therefore, at June 30, 2017, MOTA‐ENGIL, SGPS SA hold 3,639,812 own shares representing 1.53% of its share capital, detailed as follows:

2017	Quantity	Average cost	Amount
Opening Balance	3,639,812		1.59 £ 5,788
Closing Balance	3,639,812	1.59 €	5,788

Qualified holdings

In compliance with the provisions of Article 9, no.1, caption c) of CMVM Regulation no. 5/2008, hereunder is the list of the holders of qualified holdings, with the detail of the number of shares held and the corresponding percentage of voting rights, computed as at June 30, 2017, under the terms of Article 20 of the Securities Code:

Shareholders	No. of shares	% of Capital held	% of Voting rights
Mota Gestão e Participações, SGPS, SA (*)	132,758,739	55.90%	56.77%
António Manuel Queirós Vasconcelos da Mota (**)	5,550,020	2.34%	2.37%
Maria Paula Queirós Vasconcelos Mota de Meireles (**)	4,494,211	1.89%	1.92%
Maria Teresa Queirós Vasconcelos Mota Neves da Costa (**)	3,676,836	1.55%	1.57%
Maria Manuela Queirós Vasconcelos Mota dos Santos (**)	3,675,066	1.55%	1.57%
Maria Sílvia Fonseca Vasconcelos Mota (***)	87,061	0.04%	0.04%
Carlos António Vasconcelos Mota dos Santos (***)	80,000	0.03%	0.03%
José Manuel Mota Neves da Costa (***)	37,000	0.02%	0.02%
José Pedro Matos Marques Sampaio de Freitas (***)	20,138	0.01%	0.01%
Manuel António da Fonseca Vasconcelos da Mota (***)	90,000	0.04%	0.04%
Attributable to FM – Sociedade de Controlo, SGPS, SA	150,469,071	63.35%	64.34%
Ghotic Corp Mutima Capital(*)	3,757,593	1.58%	1.61%
Ghotic JBD LLC Mutima Capital (*)	1,341,887	0.56%	0.57%
Ghotic HSP Corp Mutima Capital (*)	973,089	0.41%	0.42%
Gothic ERP LLC Mutima (*)	500,000	0.21%	0.21%
The Mutima Africa Fund LP (*)	371,544	0.16%	0.16%
Attributable to Mutima Capital Management (*)	6,944,113	2.92%	2.97%
Own Shares	3,639,812	1.53%	‐
Freefloat	76,452,145	32.19%	32.69%
TOTAL	237,505,141	100.00%	100.00%

(*) Direct shareholder of the Company

(**) Member of the Board of Directors of the Company and person qualified as "Dirigente"

Information on transactions performed by managing directors, in accordance with article 14, no. 7, of the CMVM Regulation no. 5/2008

Disclosure of shares and other securities held by members of the Board of Directors and by people qualified as "Dirigente", as well as people closely related to them, under the terms of article 248‐B of the Securities Code, and disclosure of the transactions performed during the first half of the year.

Annex referred to in article 14, no. 7, of the CMVM Regulation no. 5/2008 (position as at June 30, 2017):

						Holding shares of
"Dirigentes"	Date			MOTA‐ENGIL, SGPS, SA			MGP, SGPS, SA			FM, SGPS, SA
		Qt.	Price	Buy / Sell	Inside / Outside market	%	Qt.	%	Qt.	%
António Manuel Queirós Vasconcelos da Mota
Closing balance		5,550,020				2.34%	0	0.00%	28,701	34.48%
Maria Manuela Queirós Vasconcelos Mota dos Santos
Closing balance		3,675,066				1.55%	0	0.0%	17,902	21.51%
Maria Teresa Queirós Vasconcelos Mota Neves da Costa
Closing balance		3,676,836				1.55%	0	0.0%	17,902	21.51%
Maria Paula Queirós Vasconcelos Mota de Meireles
Closing balance		4,494,211				1.89%	0	0.0%	17,902	21.51%
Carlos António Vasconcelos Mota dos Santos
Closing balance		80,000				0.03%
Maria Sílvia Fonseca Vasconcelos Mota
Closing balance		87,061				0.04%
José Manuel Mota Neves da Costa
Closing balance		37,000				0.02%
Manuel António da Fonseca Vasconcelos da Mota
Opening balance		72,985
	16/jun/17	17,015	2.628	Buy	Stock Exchange
Closing balance		90,000				0.04%
Luís Filipe Cardoso da Silva
Closing balance		12,500				0.01%
Gonçalo Nuno Gomes de Andrade Moura Martins
Closing balance		12,435				0.01%
Ismael Antunes Hernandez Gaspar
Closing balance		1,000				0.00%
José Pedro Matos Marques Sampaio de Freitas
Closing balance		20,138				0.01%
Alberto João Coraceiro de Castro
Closing balance		2,200				0.00%
F.M. ‐ Sociedade de Controlo, SGPS, SA
Closing balance		‐				‐	6,337,640	100.0%
Mota Gestão e Participações, SGPS, SA
Opening balance		132,756,739				55.90%
	1/mar/17	2,000	1.664	Buy	Stock Exchange
Closing balance		132,758,739				55.90%	‐	‐

At the date of this report, as a result of transactions carried out by some of the entities and the directors mentioned in the table above after June 30, 2017, were attributable to FM – SOCIEDADE DE CONTROLO SGPS, SA 150,514,071 shares corresponding to 63.37% of the share capital of MOTA‐ENGIL, SGPS, S.A. which confer 64.36% of the voting rights.