Mota-Engil

Investor Presentation • Nov 14, 2023

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14 NOVEMBER 2023

TABLE OF CONTENTS

01 Key figures Page ³

02 Outlook and Final Remarks

Page 8

KEY FIGURES 01

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Turnover up 66% YoY with EBITDA margin at 14%

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(T) Turnover	4,015		2 ,419		66%
Engineering&Construction	3 524 ,		2 039 ,		73%
Europe	498		384		30%
Africa	1,056		803		31%
E&C	785		535		47%
Industrial Engineering	271		268		1 %
Latin America	1,975		862		129%
E&C	1,492		648		130%
Concessions1 and Energy	483		214		126%
Other and intercompany	(5)		(9)		48%
Environment	452		358		26%
Capital and MEXT	96		76		26%
Other and intercompany	(57)		(55)		(5%)
EBITDA	551	14%	354	15%	56%
Engineering&Construction	461	13%	246	12%	87%
Europe	31	6%	23	6%	35%
Africa	218	21%	142	18%	54%
E&C	143	18%	5 8	11%	148%
Industrial Engineering	7 5	28%	8 4	31%	(11%)
Latin America	211	11%	81	9%	160%
E&C	188	13%	6 4	10%	194%
Concessions1 and Energy	2 3	5 %	1 7	8 %	34%
Other and intercompany	0	-	0	-	n.m.
Environment	88	19%	118	33%	(26%)
Capital and MEXT	6	6%	1	2%	n.m.
Other and intercompany	(4)	n.m.	(11)	n.m.	66%

• E&C top-line up 73% YoY to €3,524 mn, with an outstanding contribution from Latin America (+129% YoY), where turnover more than doubled, but also from Africa (+31% YoY) and Europe (+30% YoY) that continued showing a strong growth in the third quarter of the year
• E&C EBITDA increased 87% YoY to €461 mn, leading to a positive evolution in profitability (from 12% to 13%) in all regions, driven by Africa and Latin America with the execution of larger contracts
• Environment turnover reached €452 mn, up 26% YoY driven by the Waste Treatment activity, with the EBITDA reaching €88 mn, impacted by International segment

1 Includes €312 mn of turnover and €11 mn of EBITDA related to the adoption of IFRIC-12 in Mexican concessions under construction (the majority of the construction margin generated is included in Latin America - E&C segment).

Record Backlog¹ of €13.6 bn

• Backlog reached another record level of €13.6 bn, reflecting the successful commercial activity with relevant contracts awarded during 3Q23: Kano-Maradi-Dutse rolling stock (€840 mn), Boto Gold Mine (€495 mn) and Gamsberg Mining Contract extension (€450 mn)
• Core markets² accounted for €10.6 bn, with Mexico accounting for 29% of the total backlog, followed by Nigeria (19%) and Angola (14%)
• Backlog supports a solid revenue stream that will achieve the goal of €5 bn of Turnover in 2023, while assuring a strong evolution throughout 2024 (comfortable E&C backlog/E&C Revenue ratio of c. 3 years)
• Contracts not included (signed after 3Q23): Award in Brazil by Petrobras related to Oil & Gas (c. €160 mn for Mota-Engil)
• Focus will continue being on execution, but always evaluating several opportunities mainly in our core markets, leveraging our competitive advantages and know-how

¹Contracts already signed and financed. Excludes revenues from concessions contracts (highways and waste treatment). 2Portugal, Angola, Mozambique, Nigeria, Mexico, Peru, Brazil and Colombia.

Major construction projects currently in backlog1

Project	Range (€ mm)	Country	Segment	Exp. Year of Completion	Customer
Kano - Maradi / Kano Dutse	> 1,000	Nigeria	Railway Infrastructures	2025	Federal Ministry of Transportation
Tren Maya Tulum-Akumal	> 500	Mexico	Railway Infrastructures	2024	Fonatur
Nigéria - rolling stock (Kano-Maradi-Dutse project)	> 500	Nigeria	Railway Infrastructures	2025	Federal Ministry of Transportation
Metro Monterrey L4, 5 y 6	> 500	Mexico	Railway Infrastructures	2027	Gobierno del Edo de Nuevo Leon
Zenza do Itombe- Cacuso railway	> 500	Angola	Railway Infrastructures	2028	Ministério dos Transportes
Gamsberg Mine	> 500	South Africa	Industrial Engineering	2030	Vedanta Zinc International
Lafigué	> 500	Ivory Coast	Industrial Engineering	2028	Endeavour Mining PLC
Tren Maya	> 500	Mexico	Railway Infrastructures	2027	Fonatur
Boto Gold Mine	[350,500[	Senegal	Industrial Engineering	2029	Managem Group
Autopista Tultepec - Pirámides	[200,350[	Mexico	Road Infrastructure	2026	Concesionaria Tultepec-AIFA-Pirámides
CMRO Nayarit	[200,350[	Mexico	Road Infrastructure	2025	CMRO Nayarit
Simandou project - land movement	[200,350[	Guinea	Civil Construction	2024	Rio Tinto Iron Ore Atlantic Ltd
Cabinda-Miconje rehabilitation	[200,350[	Angola	Road Infrastructure	2026	Ministério das Obras Públicas e Ordenamento do Território
Consorcio Metro 80 Medellin	[200,350[	Colombia	Railway Infrastructures	2026	EMP - Empresa Metro de Medellin
Highways "Lagos-Badagry-Seme" and "Shagamu-Benin"	[200,350[	Nigeria	Road Infrastructure	2025	Federal Ministry of Works and Housing
Rehabilitación Coatza - Palenque	[200,350[	Mexico	Railway Infrastructures	2024	Secretaria de Marina
Lobito Concession - Angola	[200,350[	Angola	Railway Infrastructures	2025	Concessionária do Corredor de Lobito
Linea 4 Guadalajara	[200,350]	Mexico	Railway Infrastructures	2025	Secretaria de Marina
Vale Mining Moatize	[200,350[	Mozambique	Industrial Engineering	2024	Vulcan
Extensión Gran Canal	[200,350[	Mexico	Road Infrastructure	2026	Constructora Gran Cana

02 OUTLOOK AND FINAL REMARKS

Outlook and Final Remarks

• Strong growth continued in the 3Q23, with positive evolution in all segments coupled with a resilient profitability
• Path towards a positive evolution in net margin ongoing
• Record backlog focused on bidding for larger projects reflects Mota-Engil's successful commercial strategy and know-how
• Guidance for 2023 maintained:
  • Turnover of €5 bn in FY23
  • EBITDA margin aligned with historical levels
  • Proceeding strengthening the capital structure with controlled debt Net Debt/EBITDA < 2x and Gross Debt/EBITDA < 4x in FY23

"Mota-Engil" means Mota-Engil, SGPS, SA, the Holding company with controlling interest in other companies, which are called subsidiaries;

"Backlog" meansthe amount of contracts awarded to be executed at the exchange rate of the reference date;

"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" or "GD" corresponds to the algebraic sum of the following captions of the consolidated statement of financial position: "Loans without recourse", "Loans with recourse", "Lease liabilities" and "Other financial liabilities";

"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 amortised cost", "Loans without recourse" and "Loans with recourse";

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"Net income" or "net profit" correspondsto 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" correspondsto the caption of the consolidated income statement by natures of "Sales and servicesrendered"

Disclaimer

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 forwardlooking 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 forward-looking 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-Engilshould 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).

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

Portugal Poland Spain

Africa

Rwanda Guinea-Conakry Cameroon Ivory Coast Kenya Nigeria Angola Mozambique Malawi South Africa Zimbabwe Uganda

Latin America

Mexico Peru Brazil Colombia Panama

Europe 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

www.mota-engil.com