Mota-Engil

Investor Presentation • Nov 19, 2024

BUILDING PURPOSE with

TRADING UPDATE NINE MONTHS 2024 19 November 2024

FUTURE LISBON HOSPITAL

TRADING UPDATE 9M24

TABLE OF CONTENTS

Page 3

Page 9 02 Final Remarks and Outlook

01 Key Highlights

TRADING UPDATE 9M24

TOP 10 IN LATAM #2 IN THE REGION

Main events since June 2024

MEXICO

LATIN AMERICA	AFRICA	EUROPE
MEXICO	GUINEA	PORTUGAL
▪ US\$1.2 bn: agreement with Pemex for a fertilizer plant	▪ US\$290 mn: Industrial Engineering/Contract Mining project extension with Managem Group	▪ st Award of the 1 stretch of the High-Speed Train (c.€2 bn for 100% of the project)
▪ Launch of the Train Maya, now fully operational	MOZAMBIQUE ▪ US\$576 mn: Industrial Engineering/Contract Mining project extension with Vulcan	▪ €340 mn: official launch of the new Lisbon Hospital (Hospital de Todos os Santos)
▪ Sale of the Cardel-Poza Rica	RWANDA	POLAND
concession (28.73%) for a Price/Book Value of 1.85x, completed in November 2024	▪ C.US\$500 mn: Bugesera International Airport - Work stream 2 with Qatar Airways awarded in November 2024	▪ Sale of E&C and Real Estate activities completed in September 2024
	ETHIOPIA IVORY COAST MALI	SPAIN
		▪ Acquisition of a 24% stake in REMO mobility,
	▪ US\$1.4 bn: Industrial Engineering/Contract Mining projects with Allied Gold awarded in November 2024	through ME Renewing, completed in November 2024

• US\$1.2 bn: agreement with Pemex for a fertilizer plant
• Launch of the Train Maya, now fully operational
• Sale of the Cardel-Poza Rica concession (28.73%) for a Price/Book Value of 1.85x, completed in November 2024

GUINEA

Recent recognitions:

TOP 10 IN AFRICA #8 IN THE REGION TOP 15 IN EUROPE #14 IN THE REGION

Sustainability as a priority:

SUSTAINABILITY-LINKED BONDS €80 mn: Strong demand (1.73x Initial Offer)

RWANDA

TRADING UPDATE 9M24

	9M23

BACKLOG TURNOVER EBITDA €4,146mn (+3% YoY)

€609mn (+11% YoY; 15% margin)

NET PROFIT¹

Key Highlights

KEY HIGHLIGHTS

NET DEBT/EBITDA GROSS DEBT²/EBITDA

¹Group Net Profit (after non-controlling interests). 2 Includes leasing, factoring and confirming.

▪ Turnover up 3% YoY to €4,146 mn with a robust EBITDA growth of 11% YoY to €609 mn, leading to a profitability improvement to 15%, up 1 p.p.

▪ E&C revenues increased by 4% YoY to €3,675 mn, mainly driven by the performance in Latin America, whereas turnover in Europe was impacted by the activity reduction in Poland (still consolidated in September 2024) and in Africa by the initial execution phase of large projects that started in the first half of the year and will have greater contributions in the last months of the year

▪ E&C EBITDA increased 13% YoY to €519 mn with a margin improvement to 14%, supported by better performance in Europe but mainly in Africa, while Latin America showed stable profitability

6 ▪ Capital and MEXT turnover reached €109 mn, up 13% YoY with an EBITDA of €4 mn 6

▪ Industrial Engineering with 8 ongoing projects showed a turnover of €283 mn, an increase of 4% YoY with a robust margin of 30% (+2 p.p. YoY), thus also contributing to the overall improvement of Africa's margin, in addition to that observed in E&C also in the region

▪ Environment business unit turnover reached €405 mn, down 10% YoY, but with a solid profitability of 21% (up 2 p.p. YoY), with revenues being impacted by the absence in 2024 of the Used Mineral Oils recycling business contribution, sold in 2023

	9M24	%T	9M23	%T	YoY
(T) Turnover	146 4		015 4		3%
Engineering&Construction	3 675		3 524		4%
Europe	457		498		(8%)
Africa	1 027		1 056		(3%)
E&C	745		785		(5%)
Industrial Engineering	283		271		4 %
Latin America	2 197		1 975		11%
E&C	1 875		1 492		26%
and Energy Concessions	322		483		(33%)
Other and intercompany	(6)		(5)		(34%)
Environment	405		452		(10%)
Capital and MEXT	109		96		13%
Other and intercompany	(43)		(57)		25%
EBITDA	609	15%	551	14%	11%
Engineering&Construction	519	14%	461	13%	13%
Europe	34	7%	31	6%	9%
Africa	251	24%	218	21%	15%
E&C	167	22%	143	18%	17%
Industrial Engineering	8 4	30%	7 5	28%	12%
Latin America	234	11%	211	11%	11%
E&C	203	11%	188	13%	% 8
and Concessions Energy	3 1	% 9	2 3	% 5	34%
Other and intercompany	0	-	0	-	n.m.
Environment	86	21%	88	19%	(2%)
Capital and MEXT	4	4%	6	6%	(31%)
Other and intercompany	0	-	(4)	-	n.m.

Solid activity with better profitability

• Record backlog of €14.8 bn with an order intake of €5.5 bn YTD, driven by the award of large projects in core markets
• Core markets represent 78%, with Mexico representing 23%, followed by Angola with 22% and Nigeria with 15%
• The backlog supports a positive outlook for future activity and profitability with a comfortable E&C Backlog/TurnoverLTM ratio of 2.8 years
• Backlog does not yet include the first section of the High-Speed Train project (Porto-Oiã) in Portugal, nor the new Industrial Engineering contracts in Ivory Coast, Mali, and Ethiopia for the client Allied Gold
• Several other projects in the pipeline, mainly projects related to the railway segment such as, the second section of the Portugal High-Speed Train, to be tendered in January 2025

Backlog evolution (€ mn)

¹Not considering revenues from concession contracts (highways and waste treatment).

30% LATIN AMERICA 7% EUROPE ENVIRONMENT 2% + CAPITAL and MEXT 12,115 12,556 13,369 14,408 ^{451 380 355} 12,556 ³⁵⁶ 12,936 13,723 14,764 Dec.22 Dec.23 Jun.24 Sep.24 E&C backlog Environment + Capital backlog

Backlog¹ reached a new high of €14.8 bn

¹Selection of E&C projects above €200 mn and with c.17 projects above €100 mn.

Major construction projects currently in backlog 1

Project	Range (€ mn)	Country	Segment	of Exp Year Completion	Customer
/ - Maradi Kano Kano Dutse	1000 >	Nigeria	Railway Infrastructures	2025	Federal of Ministry Transportation
Fertilizer industrial plant	1000 >	Mexico	Civil Construction	2044	Petróleos Mexicanos - PEMEX
Maintenance - Lobito Corridor Contract	[500 1000[ ,	Angola	Infrastructures Railway	2054	Lobito Atlantic Railway - LAR
Kano-Maradi-Dutse - Rolling stock project	[500 1000[ ,	Nigeria	Railway Infrastructures	2025	Federal of Ministry Transportation
do Itombe- railway Zenza Cacuso	[500 1000[ ,	Angola	Infrastructures Railway	2028	of Ministry Transportation
Infrastructures of the Corimba waterfront	[500 1000[ ,	Angola	Road Infrastructure	2028	of Public Works Urbanism and Ministry Housing ,
Gamsberg Mine	[500 1000[ ,	Africa South	Industrial Engineering	2030	Vedanta International Zinc
Vale Mining Moatize	[500 1000[ ,	Mozambique	Industrial Engineering	2027	Vulcan S A
Subway y 6 Monterrey L4 5 ,	[500 1000[ ,	Mexico	Railway Infrastructures	2027	Gobierno del Estado de Nuevo Leon
Lafigué Mine	[300 500[ ,	Ivory Coast	Industrial Engineering	2028	Endeavour Mining PLC
Gold Mine Boto	[300 500[ ,	Senegal	Industrial Engineering	2029	Group Managem
Gold Mine TRI-K	[300 500[ ,	Guinea	Industrial Engineering	2029	Group Managem
- Oriental Lisbon Hospital HLO	[300 500[ ,	Portugal	Civil Construction	2027	- Sociedade do Edifício HLO Gestora S A ,
Cabinda-Miconje rehabilitation	[200 300[ ,	Angola	Road Infrastructure	2026	of Public Works Urbanism and Ministry Housing ,
Autopista Tultepec - Pirámides	[200 300[ ,	Mexico	Road Infrastructure	2027	Tultepec-AIFA-Pirámides Concesionaria
Highways "Lagos-Badagry-Seme" and "Shagamu-Benin"	[200 300[ ,	Nigeria	Infrastructure Road	2027	Federal of Ministry Transportation
Simandou - Earthworks project	[200 300[ ,	Guinea	Civil Construction	2026	Atlantic Ltd Rio Tinto Iron Ore
Extension of the red line Lisbon subway	[200 300[ ,	Portugal	Railway Infrastructures	2026	Metropolitano de Lisboa EP
Medellin Consorcio Metro 80	[200 300[ ,	Colombia	Railway Infrastructures	2026	Medellin de EMP - Empresa Metro 8

TRADING UPDATE 9M24

9

FINAL REMARKS AND OUTLOOK

02

Final Remarks and Outlook

On track to reach 2026 strategic targets

Focus on performance improvement and return on capital to strengthen cash conversion

E&C backlog supports 82% of the 2026 E&C turnover target

Mota-Engil is committed to ESG targets, strengthening ESG disclosure with 2024 being the first year that Mota-Engil reports to CDP

Guidance 2024

Turnover growth on the right track to reach 2026 target

EBITDA margin gradually improving towards the 2026 goal

Asset rotation in road concessions ongoing throughout 2024, with the sale of Cardel Poza-Rica (28.73%) recently completed for a BV of 1.85x

Towards sustainable growth, cash generation and shareholder remuneration

GLOSSARY

• "Mota-Engil" means Mota-Engil, SGPS, SA, the Holding company with controlling interest in other companies, which are called subsidiaries;
• "Backlog" means the amount of contracts awarded and signed to be executed;
• "EBITDA" corresponds to the algebraic sum of the following captions of the consolidated income statement by natures: "Sales and services rendered", "Cost of goods sold, materials consumed and Changes in production", "Third-party supplies and services", "Wages and salaries" and "Other operating income / (expenses)";
• "EBITDA margin" or "(EBITDA Mg)" means the ratio between EBITDA and "Sales and services rendered";
• "Gross debt" corresponds to the algebraic sum of net debt with the balances of the following captions of the consolidated statement of financial position: "Cash and cash equivalents without recourse – Demand deposits", "Cash and cash equivalents with recourse – Demand deposits", "Other financial applications"; "Other financial investments recorded at amortised cost"; "Lease liabilities" and "Other financial liabilities";
• "LTM". Last Twelve Months;

• "Net debt" corresponds to the algebraic sum of the following captions of the consolidated statement of financial position: "Cash and cash equivalents without recourse – Demand deposits", "Cash and cash equivalents with recourse – Demand deposits", "Other financial applications", "Other financial investments recorded at amortised cost", "Loans without recourse" and "Loans with recourse";

• "Net profit" corresponds to the caption of the consolidated income statement by natures of "Consolidated net profit of the period - Attributable to the Group";

• "Turnover" or "Revenue(s)" or "Sales" corresponds to the caption of the consolidated income statement by natures of "Sales and services rendered".

DISCLAMER

This document has been prepared by Mota-Engil, SGPS, S.A. ("Mota-Engil" or the "Company") solely for disclosure and its purpose is merely of informative nature and, as such, it may be amended and supplemented and it should be read as a summary of the matters addressed or contained herein ("Information").

The Information is disclosed under the applicable rules and regulations for information purposes only and has not been verified by an external auditor or expert and is not guaranteed as to accuracy or completeness.

The Information may contain estimates or expectations of Mota-Engil and thus there can be no assurance that such estimates or expectations are, or will prove to be, accurate or that a third party using different methods to assemble, analyse or compute the relevant information would achieve the same results. Some contents of this document, including those in respect of possible or assumed future performance of Mota-Engil and its subsidiaries ("Group") constitute forward-looking statements that expresses management's best assessments, but might prove inaccurate. Statements that are preceded by, followed by or include words such as "anticipates", "believes", "estimates", "expects", "forecasts", "intends", "is confident", "plans", "predicts", "may", "might", "could", "would", "will" and the negatives of such terms or similar expressions are intended to identify these forward-looking statements and information. These statements are not, and shall not be understood as, statements of historical facts. All forwardlooking statements included herein are based on information available to the Group as of the date hereof. By nature, forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors, seeing as they relate to events and depend upon circumstances that are expected to occur in the future and that may be outside the Group's control. Such factors may mean that actual results, performance or developments may differ materially from those expressed or implied by such forward-looking statements, which the Group does not undertake to update. Accordingly, no representation, warranty or undertaking, express or implied, is made hereto and there can be no assurance that such forward-looking statements will prove to be correct and, as such, no undue reliance shall be placed on forward-looking statements.

All Information must be reported as of the document's date, as it is subject to many factors and uncertainties.

The Information may change without notice and the Group shall not be under any obligation to update said Information, nor shall it be under any obligation to make any prior announcement of any amendment or modification

thereof.

The Information is provided merely for informative purposes only and is not intended to constitute and should not be construed as professional investment advice. Furthermore, the Information does not constitute or form part of, and should not be construed as, an offer (public or private) to sell, issue, advertise or market, an invitation nor a recommendation to subscribe or purchase, a submission to investment gathering procedures, the solicitation of an offer (public or private) to subscribe or purchase securities issued by Mota-Engil. Any decision to subscribe, purchase, exchange or otherwise trade any securities in any offering launched by Mota-Engil should be made in accordance with the applicable rules and regulations.

This Information and any materials distributed in connection with this document are for information purposes only and are not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any place, state, country or jurisdiction where such distribution, publication, availability or use would be contrary to any law or regulation or which would require any registration or licensing. This Information does not constitute an offer to sell, or a solicitation of an offer to subscribe or purchase any securities in the United States or to any other country, including in the European Economic Area and does not constitute a prospectus or an advertisement within the meaning, and for the purposes of, the Portuguese Securities Code (Cόdigo dos Valores Mobiliários) and the Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (Prospectus Regulation).

The financial information presented in this document is non-audited.

Rwanda Guinea Cameroon Ivory Coast Kenya Senegal

Angola Nigeria Mozambique Malawi South Africa Zimbabwe Uganda

Africa

Pedro Arrais

Head of Investor Relations pedro.arrais@mota-engil.pt

Maria Anunciação Borrega

Investor Relations Officer maria.borrega@mota-engil.pt

investor.relations@mota-engil.pt

Rua de Mário Dionísio, 2 2796-957 Linda-A-Velha Portugal Tel. +351-21-415-8671

Portugal Spain

Mexico Peru Brazil Colombia Panama

Latin America