Mota-Engil

Investor Presentation • Aug 28, 2024

EARNINGS RELEASE FIRST HALF 2024

28 August 2024

BUILDING PURPOSE with

EARNINGS RELEASE 1H24

01 Key Highlights	Page 2
02 Results Overview	Page 6
03 Business Units 1. Europe E&C 2. Africa E&C 3. Latin America E&C 4. Environment 5. Mota-Engil Capital and MEXT	Page 16
04 Final Remarks and Guidance	Page 29
05 Q&A	Page 32

TABLE OF CONTENTS

EARNINGS RELEASE 1H24

EARNINGS RELEASE 1H24

€1,268mn (ND/EBITDALTM 1.4x)

396 2,732 BACKLOG TURNOVER EBITDA €13.7bn (+6% YTD) €2,732mn (+7% YoY) €396mn (+12% YoY; 15% margin) 13,723

€2,784mn (GD/EBITDALTM 3.2x) NET DEBT CAPEX GROSS DEBT² FCFO

GROUP NET PROFIT¹ €49mn (+65% YoY; 2% margin)

€309mn (o.w. 80% growth and LT contracts)

EQUITY

(+€239 mn YoY; Equity/Assets 10% +3 p.p. YoY)

¹After non-controlling interests. Total net profit of €118 mn, with 4% net margin. ²Includes leasing, factoring and confirming.

KEY HIGHLIGHTS

Delivering now and preparing the future

Well positioned to achieve the recently revised strategic targets for 2026 and focused on preparing the next stage

• Record levels of turnover with "best-in-class" margins
• Upscale in E&C segments and ongoing diversification

Sustainable Growth

• Best ever 1H EBITDA and Net Profit levels
• FCFO increased €264 mn YoY

Focus on Profitability and Cash-Flow

• Monetization of two Mexican concessions confirming a significant premium to BV
• Generating value with the sale of 9% in Lineasto Serena

Asset Rotation aligned with Value Creation

▪ Core markets representing 79% of E&C backlog in 1H24 and major opportunities in pipeline

Business Development focus on B26 Plan

E&C backlog supports 64% of the 2026 E&C turnover target

Our road towards a sustainable future

EARNINGS RELEASE 1H24

02

RESULTS OVERVIEW

6

Net profit up 65% YoY to €49 mn

▪ Robust turnover with an increase of 7% YoY to €2,732 mn, despite the outstanding performance of the previous period, fuelled by the E&C activity and aligned with the strategic goals up to 2026

▪ EBITDA increased 12% YoY to €396 mn, also reflecting enhanced profitability

▪ Financial results still reflect the recent context of higher interest rates curves, which prevailed until mid-2024, and the mix of interest rates applied to several local currencies in different countries

▪ Net profit up 35% YoY to €118 mn with net margin of 4%

▪ Non-controlling interests mainly related to the operations in Mexico and

▪ Group net profit of €49 mn, up 65% YoY reflects a net margin of 2%

(€ mn) P&L
Turnover	2 732 ,	2 558 ,	7%
EBITDA	396	352	12%
Margin	15%	14%	1 p.p.
EBIT	237	213	11%
Margin	9%	8%	1 p.p.
financial results and others Net	(73)	(79)	8%
Financial results	(95)	(79)	(20%)
Capital gains	22	-	n.m.
Associates	3	8	(61%)
EBT	167	141	18%
profit Net	118	87	35%
Attributable to:
Non-controlling interests	69	58	20%	Nigeria
profit Group Net	49	30	65%
Margin	2%	1%	1 p.p.

1H24	1H23	YoY
------	------	-----

▪ E&C top-line up 7% YoY to €2,439 mn with strong contribution from Latin America, due to the continued cruising speed execution of major rail projects in Mexico, while in Africa there was the start of a relevant set of new projects awarded at the end of 2023

▪ E&C EBITDA increased 13% YoY to €335 mn, with margin reaching 14%

▪ Environment turnover was €264 mn, up 4% YoY, notwithstanding the deconsolidation of the recycling of used mineral oils business (in the context of Urbaser transaction)

▪ EBITDA in Environment reached €54 mn, with margin of 21%

▪ Capital and MEXT turnover reached €63 mn and EBITDA was €4 mn with

-

-

• margin reaching 7%

Profitability remained robust with EBITDA margin of 15%

breakdown (€ mn) P&L	1H24	% T	1H23	% T	YoY
(T) Turnover	2 732 ,				7%
Engineering&Construction	2 439 ,		2 289 ,		7%
Europe	297		291		2%
Africa	659		676		(3%)
E&C	468		501		(6%)
Industrial Engineering	191		175		9 %
Latin America	1 487 ,		1 326 ,		12%
E&C	1,204		1,098		10%
and Energy Concessions	282		228		24%
Other and intercompany	(4)		(3)		(8%)
Environment	264		254		4%
Capital and MEXT	63		64		(2%)
Other and intercompany	(34)		(50)		33%
EBITDA	396	15%	352	14%	12%
Engineering&Construction	335	14%	297	13%	13%
Europe	22	7%	15	5%	46%
Africa	145	22%	146	22%	(1%)
E&C	9 2	20%	9 9	20%	(8%)
Industrial Engineering	5 3	28%	4 7	27%	12%
Latin America	168	11%	136	10%	24%
E&C	139	12%	127	12%	% 9
and Energy Concessions	2 9	10%	8	% 4	251%
Other and intercompany	0		(0)		n.m.
Environment	54	21%	52	21%	4%
Capital and MEXT	4	7%	4	7%	(2%)
Other and intercompany	3		(2)		n.m.

• Backlog continued to increase, with an order intake of €3.3 bn in the 1H24, mostly supported by large contracts, selectively aligned with our margin and cash flow generation strategy
• The core markets account for 79% of the E&C backlog, of which 25%, 19% and 17% from Angola, Mexico and Nigeria, respectively
• Backlog with high profitability and providing visibility on future activity with the E&C Backlog/Revenue LTM ratio of 2.6 years
• Major projects not included in the backlog worth US\$1.5 bn (signed after June): construction of a fertiliser plant contract in Mexico worth US\$1.2 bn signed with Pemex and extension contract worth US\$290 mn in Guinea of Industrial Engineering Services (mining contract) signed with Managem Group

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

Record backlog¹ of €13.7 bn with €3.3 bn awarded in 1H24

¹Selection of E&C projects above €200 mn and with 16 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	1 000 > ,	Nigeria	Railway Infrastructures	2025	Federal of Ministry Transportation
Kano-Maradi-Dutse - Rolling stock project	[500 1000[ ,	Nigeria	Railway Infrastructures	2025	Federal of Ministry Transportation
Maintenance - Lobito Corridor Contract	[500 1000[ ,	Angola	Railway Infrastructures	2054	Lobito Atlantic Railway - LAR
do Itombe- railway Zenza Cacuso	[500 1000[ ,	Angola	Railway Infrastructures	2028	of Ministry Transportation
Gamsberg Mine	[500 1000[ ,	South Africa	Industrial Engineering	2030	Vedanta International Zinc
Subway Monterrey L4 5 6 y ,	[500 1000[ ,	Mexico	Railway Infrastructures	2027	Gobierno del Estado de Nuevo Leon
Infrastructures of waterfront the Corimba	[500 1000[ ,	Angola	Infrastructure Road	2028	of Public Works Urbanism and Ministry Housing ,
Lafigué Mine	[300 500[ ,	Ivory Coast	Industrial Engineering	2028	Endeavour Mining PLC
Gold Mine Boto	[300 500[ ,	Senegal	Industrial Engineering	2029	Managem Group
- Oriental Lisbon Hospital HLO	[300 500[ ,	Portugal	Civil Construction	2027	- Sociedade do Edifício HLO Gestora S A ,
Tulum-Akumal Tren Maya	[300 500[ ,	Mexico	Railway Infrastructures	2024	Fonatur
Tultepec - Pirámides Autopista	[200 300[ ,	Mexico	Road Infrastructure	2026	Tultepec-AIFA-Pirámides Concesionaria
Cabinda-Miconje rehabilitation	[200 300[ ,	Angola	Road Infrastructure	2026	of Public Works Urbanism and Ministry Housing ,
Simandou project - Earthworks	[200 300[ ,	Guinea	Civil Construction	2026	Atlantic Ltd Rio Tinto Ore Iron
Highways "Lagos-Badagry-Seme" and "Shagamu-Benin"	[200 300[ ,	Nigeria	Road Infrastructure	2025	Federal of Works and Ministry Housing
Medellin Consorcio Metro 80	[200 300[ ,	Colombia	Railway Infrastructures	2026	de Medellin EMP - Empresa Metro
of Extension the red line Lisbon subway	[200 300[ ,	Portugal	Infrastructures Railway	2026	Metropolitano de Lisboa EP
Rehabilitation of the infrastructures of the Vida urbanization Nova	[200 300[ ,	Angola	Civil Construction	2027	of Public Works Urbanism and Ministry Housing ,
Extensión Canal Gran	[200 300[ ,	Mexico	Road Infrastructure	2026	Canal Constructora Gran

• Capex decelerated in the 1H24 from the 2H23 (€326 mn) due to the final stages of the Maya train works
• Growth and Long-term contracts represent 80% of the total capex, mainly related to the equipment for the Industrial Engineering/Contract Mining projects awarded at the end of 2023 (Africa represents 75% of the 1H24 total capex)
• E&C maintenance Capex < 2% of E&C revenues, showing the optimization of the equipment management as a positive contributor to operational performance improvement in E&C
• Environment accounted for €22 mn, of which 87% in the Treatment business (EGF)

Capex of €309 mn in 1H24 with 80% for Growth and LT Contracts

11 ¹ Includes Industrial Engineering contracts in Africa and the Energy business in Latin America.

Control over working capital requirements

• Despite typical seasonal patterns and increased activity, working capital maintained the efficient trend of previous periods with working capital/TurnoverLTM of -5%
• Equity/Assets ratio of 10% (+3 p.p. YoY)

Total equity and Equity / Assets ratio evolution

0

100

200

300

400

500

600

700

800

	Jun. 24	Dec. 23	Chg. 12%
Balance sheet (€ mn)			10%
Fixed assets	2,017	1,852	165
Financial investments	705	523	182 % 8
Long term receivables / (payables) & others	(289)	(134)	(155)
Working capital	(277)	(187)	6 % (90)
	2,156	2,054	102
			% 4
Equity	744	746	(2)
Provisions	144	133	% 2 11
Net debt	1,268	1,175	93 0 %
	2,156	2,054	102

EARNINGS RELEASE 1H24

13 ¹Net debt considers Mozambique's sovereign bonds as "cash and cash equivalents" which amounted to €21 mn in June 2024 and Angola's, Mozambique's and Ivory Coast's sovereign bonds as "cash and cash equivalents" which amounted to €124 mn (€131 mn nominal value) in December 2023. ²Leasing, Factoring and Confirming.

2.00x

3.00x

4.00x

5.00x

6.00x

7.00x

8.00x

9.00x

10.00x

Gross Debt Gross Debt / EBITDA

¹Net debt considers Mozambique's sovereign bonds as "cash and cash equivalents" which amounted to €21 mn in June 2024. ² Includes leasing, factoring and confirming.

Net Debt¹/EBITDA 1.44x down from 1.98x in June 2023

Net debt¹ and Net debt/EBITDA Gross debt

² and Gross debt/EBITDA

• Net debt reached €1,268 mn (-€91 mn YoY) with Net debt/EBITDA of 1.44x
• The Angolan bonds achieved its maturity in May with the reimbursement of €75 mn, leading to a significant reduction of sovereign African bonds in the balance sheet
• Positive operating performance aligned with debt control allows the maintenance of a Net debt/EBITDA <2x and a Gross debt/EBITDA <4x, as established in our Building26 Strategic Plan

-

1.00x

2.00x

3.00x

4.00x

5.00x

6.00x

7.00x

Net Debt Net Debt / EBITDA

• Liquidity position exceeds the total amount of the non-revolving financing instalments for the next 3 years
• €374 mn already refinanced
• Average gross debt¹ maturity of 2.5 years
• Average cost of gross debt at 8%, reflecting the recent context of higher interest rates curves, which prevailed until mid-2024, and the mix of interest rates applied to several local currencies in different countries

Comfortable liquidity position

¹Excluding leasing, factoring and confirming.

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BUSINESS UNITS

03

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ENGINEERING & CONSTRUCTION

BUSINESS UNITS

17

PORTUGAL ·SPAIN ·POLAND

EUROPE

▪ E&C Europe turnover was up 2% YoY to €297 mn, with Portugal accounting for 73% and

▪ EBITDA up 46% YoY to €22 mn with margin of 7% up from 5% in 1H23

- with Poland still being consolidated in the period

- 30%) and not including Poland

▪ Backlog was €1.0 bn with works mainly related to buildings (55%) and railway projects (c.

EARNINGS RELEASE 1H24 EUROPE

▪ Mota-Engil is bidding for the first section (Porto-Oiã) of the high-speed train project and will also submit a bid for the second tender (Oiã-Soure) worth c.€1.6 bn, thus representing a significant opportunity for the Portuguese consortium led by Mota-Engil

▪ Portugal's recovery and resilience plan (to be executed until 2026) and other European funding frameworks such as, the Connecting Europe Facility (CEF) as relevant support to infrastructure projects in upcoming years in Portugal

Large infrastructure projects to be developed in Portugal

ANGOLA · NIGERIA · MOZAMBIQUE ·SOUTH AFRICA MALAWI · UGANDA · RWANDA· GUINEA · CAMEROON IVORY COAST ·KENYA·SENEGAL · ZIMBABWE

AFRICA

▪ Turnover was down 3% YoY to €659 mn, of which 55% from the core markets Angola, Mozambique and Nigeria and 29% from the Industrial Engineering activity

▪ Backlog achieved a record level of €8.5 bn, up €1.4 bn since December 2023

▪ With the extension of Tri-k mining contract in Guinea (signed after June 2024), the Industrial Engineering Services segment represents more than €2 bn in the backlog

▪ 98% of contracts signed with private players (tier 1) and with public clients, whose contracts are financed by multilaterals or with public guarantee financed by financial

EARNINGS RELEASE 1H24 AFRICA

• EBITDA of €145 mn with strong profitability of 22%
• institutions
• on concessions scheme in Africa, namely in Angola
• in this segment in the African continent

▪ Lobito Railway Corridor in Angola (2024 is the first full year of operation) as the most important African commodities logistic infrastructure could leverage new projects based

▪ The pipeline includes several infrastructure projects, namely in Angola and Nigeria, and new contract mining projects, taking advantage of Mota-Engils Africa's leadership position

Backlog focused on core markets supports positive trend

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MEXICO ·PERU·BRAZIL COLOMBIA ·PANAMA

LATIN AMERICA

EARNINGS RELEASE 1H24

▪ E&C turnover was up 12% YoY to €1,487 mn, despite the strong growth posted in previous periods and driven by Mexico, but also with a positive contribution from Brazil,

▪ EBITDA was €168 mn (+24% YoY) with improved margin to 11%

▪ Backlog was €3.9 bn, of which 67% in Mexico, notwithstanding the Maya train reaches the final stage of execution, while Peru and Brazil together represent 27%, thus focusing

- both markets with +20% growth YoY

- on new awards in the core markets

- concluded, as announced at the beginning of 2024

▪ Pipeline in Mexico continues to be outstanding, with nearshoring opportunities (energy and industrial) and additional railway projects envisaged by the new elected President

▪ Monetization of road concessions with the sale of two Mexican concessions almost

▪ Brazil's massive Infrastructure Investment Plan (example: the Security and Energy Transition axis envisages an investment of €105 bn) as a driver for future growth

Mexico bright new outlook

LATIN AMERICA

• Sale of the concessions Cardel Poza-Rica (28.73%) and Tuxpan-Tampico (25.85%) to be completed soon, following the greenlight from the Competition Authority, recently obtained, but still waiting from certain conditions precedent
• Transactions multiple to be in line with the expected P/BV
• Recent transactions confirm the existing hidden value in the road concession business

Delivery of asset rotation with effective value generation

Implied Price/BV

Status	Concession
Transactions concluded	Autopista Cuapiaxtla - Cuacnopalan
Transactions already signed to be concluded in the short term (2024)	Autopista Cardel - Poza Rica
	Autopista Tuxpan - Tampico
	APP Tamaulipas
			76	1.77x
Concessions under development	Autopista Urbana Siervo de la Nación		3 3
	CMRO Nayarit
	AZPAU Entretenimiento
	Mota-Engil Aeropuertos
	Autopista Tultepec – Pirámides
	Consorcio Tren Ligero Línea 4 Guadalajara
	APP Coatzacoalcos - Villahermosa

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ENVIRONMENT

BUSINESS UNITS

PORTUGAL ·ANGOLA·BRAZIL IVORY COAST · MOZAMBIQUE · OMAN

EARNINGS RELEASE 1H24

Waste-to-Energy as the focus of new investments in the future

¹ Excludes future revenues from concession contracts (Waste Treatment).

▪ Turnover up 4% YoY to €264 mn, with the waste treatment (EGF) and the International

▪ Growth of all the segments compensates the business sold (recycling of used mineral oils) which was no longer consolidated in 1H24 (in 1H23 it had a contribution in turnover

26 ▪ Being the company that manages the largest amount of waste in Portugal, Mota-Engil is currently studying new opportunities in waste-to-energy in Portugal, while structuring the business in order to manage the energy activities under a single global Energy unit to

▪ Backlog¹ of €286 mn, only related to waste collection services

▪ The waste treatment and collection expected to show a steady activity

• activity accounting for 60% and 27%, respectively
• EBITDA of €54 mn, with profitability reaching 21%
• and EBITDA of €19 mn and €5 mn, respectively)
• capture synergies and efficiencies

▪ On the international front, currently bidding for waste-to-energy contracts in Macau, while looking to Brazil and further projects in Africa

ENVIRONMENT

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MOTA-ENGIL CAPITAL AND MEXT

BUSINESS UNITS

PORTUGAL ·ANGOLA· MALAWI MOZAMBIQUE ·POLAND

▪ The New Oriental Lisbon Hospital (awarded) and the first stretch of the high-speed train (sole valid bidder) will drive growth, with both concessions to be equity consolidated

▪ Sale of a 9% stake in Lineas to Serena Industrial Partners for an implied Book Value (Dec. 23)

▪ Potential to study and explore new opportunities with Serena Industrial Partners, in Europe,

• multiple of 1.45x
• starting in Portugal

▪ Real estate activity (Emerge) with several projects ongoing in Portugal (Ex: Aurios and M-ODU)

Potential to explore new opportunities in concessions in line with strategic guidelines and focusing in value creation

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FINAL REMARKS AND GUIDANCE

04

EUROPE (Portugal)

- High-Speed Train (1

st Tender: sole valid bidder | 2 nd Tender: Launched c. €1.6 bn) ▪ Relevant Public Investmentsreinforcing the opportunities for a new dynamic cycle in E&C

AFRICA

-

▪ Growth prospects in Angola and Nigeria, as well as in the Industrial Engineering segment, which after June increased its backlog to US\$2 bn ▪ New opportunities in PPP´s in Africa with Lobito Corridor (1 st year of operation) as an example of Mota-Engil´s know-how and trust in the African continent for Long-term investments

LATAM

▪ Focus in core markets, with special attention to the nearshoring opportunities in Mexico and the massive Infrastructure investments plans of some countries, which already resulted in major awardsin 2024, namely US\$1.2 bn by PEMEX (Fertiliser Plant) and US\$0.4 bn in Peru

ENVIRONMENT, CONCESSIONS and ENERGY

-

▪ International segment to be developed in the upcoming years ▪ Looking to new opportunities related with PPP´s and waste-to-energy technologies

Focus on Strategic Targets and looking beyond 2026

Focus on profitability in new awards with large size contracts and in core markets, namely Portugal, Angola, Nigeria and Mexico

• Turnover growth paving the way to reach 2026 target and EBITDA margin gradually towards the 2026 level
• Record backlog of €13.7 bn and strong pipeline supports positive evolution going ahead
• Cash flow generation as a priority
• Controlled debt with Net Debt / EBITDA < 2x and Gross Debt / EBITDA < 4x
• Strengthening the capital structure with a positive evolution in the Financial Autonomy ratio
• Ratio capex/sales expected to be lower than 10%
• Focusing on core markets operations with overall improvement in profitability and implementation of an exit strategy in non-performing markets (ex: Poland)
• Asset rotation strategy remains as a key driver for value creation as evidenced in the transactions to be concluded involving the Mexican concessions

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05

Q&A

32

GLOSSARY

• "Mota-Engil" means Mota-Engil, SGPS, SA, the Holding company with controlling interest in other companies, which are called subsidiaries;
• "Assets" corresponds to the following caption of the consolidated statement of financial position: "Total assets";
• "Associates" corresponds to the following caption of the consolidated income statement by natures: "Gains / (losses) in associates and joint ventures";
• "Backlog" means the amount of contracts awarded and signed to be executed;
• "CAPEX" means the algebraic sum of the increases and disposals of tangible assets, intangible assets and right of use assets occurred in the period, except the ones associated with the Mexican concessions;
• "Corporate tax" corresponds to the caption of the consolidated income statement by natures of "Income Tax";
• "EBIT" corresponds to the algebraic sum of EBITDA with the following captions of the consolidated income statement by natures: "Amortizations and depreciations"; "Impairment losses" and "Provisions";
• "EBIT margin" or "(EBIT Mg)" means the ratio between EBIT and "Sales and services rendered";
• "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";
• "EBT" corresponds to the following caption of the consolidated income statement by natures: "Income before taxes";
• "Equity" corresponds to the following caption of the consolidated statement of financial position: "Total shareholder's equity";
• "FCFO" corresponds to the algebraic sum of the following captions: EBITDA, Changes in working capital and Income tax;
• "Financial investments" corresponds to the algebraic sum of the following captions of the consolidated statement of financial position: "Financial investments in associated companies"; "Financial investments in joint ventures"; "Other financial investments recorded at fair value through other comprehensive income" and "Investment properties";
• "Fixed assets" corresponds to the algebraic sum of the following captions of the consolidated statement of financial position: "Goodwill"; "Intangible assets"; "Tangible assets" and "Right of use assets";
• "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 amortized cost"; "Lease liabilities" and "Other financial liabilities";
• "Leasing, Factoring and Confirming" or "LFC" corresponds to the sum of the following captions of the consolidated statement of financial position: "Other financial liabilities" and "Lease liabilities";
• "Long term receivables / (payables) & others" corresponds to the algebraic sum of the following captions of the consolidated statement of financial position: "Contract assets – non-current"; "Customers and other debtors – non-current"; "Other non-current assets"; "Derivative financial instruments – non-current"; "Other financial liabilities – non – current"; "Lease liabilities – non – current"; "Suppliers and sundry creditors – non – current"; "Contract liabilities – non-current"; "Provisions" and "Other non-current liabilities";

	solidated income

EARNINGS RELEASE 1H24 GLOSSARY

• "LTM" corresponds to the Last Twelve Months figure;
• "Minorities" or "Non-Controlling Interests" corresponds to the caption of the consolidated income statement by natures of "Consolidated net profit of the period - Attributable to non-controlling interests";
• "Net debt" or "ND" 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 amortized cost", "Loans without recourse" and "Loans with recourse";
• "Net financial results and others" corresponds to the algebraic sum of the following captions of the consolidated income statement by natures: "Financial income and gains"; "Financial costs and losses"; "Gains / (losses) on the acquisition and disposal of subsidiaries, joint ventures and associated companies" and "Net monetary position";
• "Group net income" or " Group 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" or "Top-Line" corresponds to the caption of the consolidated income statement by natures of "Sales and services rendered";
• "Working Capital" or "WC" corresponds to the algebraic sum of the following captions of the consolidated statement of financial position: "Deferred tax assets", "Inventories", "Customers and other debtors current", "Contract assets - current", "Other current assets", "Corporate income tax", "Deferred tax liabilities", "Lease liabilities – current", "Other financial liabilities – current", "Derivative financial instruments – current"; "Suppliers and sundry creditors – current", "Contract liabilities current", "Other current liabilities", "Corporate income tax"; "Noncurrent assets held for sale" and "Non-current liabilities held for sale";

DISCLAMER

This document has been prepared by Mota-Engil, SGPS, S.A. ("Mota-Engil" or the "Company") solely for use at the presentation to be made on this date 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.

Pedro Arrais Head of Investor Relations pedro.arrais@mota-engil.p t

Maria Anunciação Borrega Investor Relations Officer maria.borrega@mota -engil.pt

investor.relations@mota -engil.pt

www.mota -engil.com

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EARNINGS RELEASE FIRST HALF 2024

BUILDING PURPOSE with

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