Mota-Engil

Earnings Release • Mar 1, 2023

EARNINGS RELEASE 2022

MARCH 2023

TABLE OF CONTENTS

02	Road to Strategic Plan	Page 5
03	Results Overview	Page 8
04	Business Units	Page 18
	1. Europe E&C
	2. Africa E&C
	3. Latin America E&C
	4. Environment
	5. Mota-Engil Capital
		Page 33
05	Final Remarks and Outlook

01

KEY HIGHLIGHTS

EARNINGS RELEASE 2022 Key Highlights

4

4

Key Highlights

02

ROAD TO STRATEGIC PLAN 2022-2026

Road to Strategic Plan 2022-2026: Achievements 2022

• Solid growth above expectations, with record performance in Latin America and in Africa
• Sustainable growth with positive trend in debt evolution

Road to Strategic Plan 2022-2026: Achievements 2022

Strategic Pillar	Strategic Plan target 2026	2022
Accountability & Profitability of each business	Net margin 3%	1.1% (Positive trend: 0.9% in 2021)
Strengthened balance sheet	Net debt/EBITDA <2x Sustainable leverage	1.7x
Focused on cash generation	18% EBITDA margin Improve cash conversion	14% EBITDA margin FCFO €608 mn
Integrated Group more contribution from long cycle businesses	% of EBITDA - E&C 45% Non-E&C 55%1	% of EBITDA - E&C 57% Non-E&C 43%1
Balanced Footprint and increasing markets scale	% of turnover: 1/3 each region €200 mn turnover per core market	4 core markets (50%) with turnover above €200 mn

03

RESULTS OVERVIEW

Record Turnover with Net Profit up 69% YoY to €41 mn

	2022	1 2021	YoY	2H22	YoY
P&L (€ mn)
Turnover	3,804	2,592	47%	2,450	69%
EBITDA	541	412	31%	334	45%
Margin	14%	16%	(2 p.p.)	14%	65%
EBIT	244	184	32%	162	39%
Margin	6%	7%	(1 p.p.)	7%	(1 p.p.)
Net financial results and others	(124)	(66)	(89%)	(82)	213%
Net financial interests and others	(131)	(123)	(6%)	(92)	(23%)
Other financial results	6	57	89%	10	79%
Associates	(3)	3	n.m.	(7)	(49%)
EBT	117	122	(4%)	73	(15%)
Net profit	77	63	22%	57	41%
Attributable to:
Non-controlling interests	37	39	(7%)	28	13%
Group	41	24	69%	29	86%

• Turnover reached an all time high of €3.8 bn, up 47% YoY, fuelled by a strong contribution from the E&C in Latin America and Africa with the execution of several projects at full speed
• EBITDA increased 31% YoY to €541 mn (+45% YoY in 2H22), with an healthy EBITDA margin of 14%, despite the inflation context
• Strict management of debt interest costs, despite the higher interest rate context, demonstrating the capability of structuring sustainable financial solutions including for LT capex in the Industrial Engineering activity
• Net profit of €41 mn, up 69% YoY (+86% YoY in 2H22), opening positive perspectives for net margin in FY23

	2022	%T	2021	%T	YoY	2H22	%T	YoY
P&L breakdown (€ mn)
Turnover (T)	3,804		2,592		47%	2,450		69%
Engineering&Construction	3,198		2,034		57%	2,076		79%
Europe	510		607		(16%)	259		(24%)
Africa	1,183		824		44%	734		38%
E&C	822		589		40%	542		36%
Industrial Engineering	361		235		54%	192		43%
Latin America	1,519		620		145%	1,089		260%
E&C	1,209		446		171%	882		362%
Energy and Concessions	311		174		78%	207		85%
Other and intercompany	(14)		(17)		19%	(6)		58%
Environment	556		443		26%	336		39%
Capital	105		142		(26%)	57		(25%)
Other and intercompany	(55)		(27)		(104%)	(20)		15%
EBITDA	541	14%	412	16%	31%	334	14%	45%
Engineering&Construction	411	13%	306	15%	34%	278	13%	51%
Europe	40	8%	42	7%	(5%)	26	10%	6%
Africa	225	19%	173	21%	30%	146	20%	40%
E&C	128	16%	92	16%	40%	93	17%	43%
Industrial Engineering	97	27%	81	35%	19%	53	28%	35%
Latin America	146	10%	90	15%	61%	100	9%	80%
E&C	118	10%	64	14%	84%	85	10%	116%
Energy and Concessions	28	9%	26	15%	8%	15	7%	(8%)
Other and intercompany	(0)		(0)		87%	6
Environment	131	24%	121	27%	8%	60	18%	(2%)
Capital	4	4%	9	6%	(58%)	2	3%	(64%)
Other and intercompany	(5)		(24)		81%	(5)		73%

• E&C top-line was up 57% YoY to €3,198 mn (+79% YoY in 2H22), reflecting the execution of several projects in Africa and major projects in Mexico where works accelerated in the 2H22
• E&C EBITDA increased 34% YoY to €411 mn (+51% YoY in 2H22), maintaining resilient profitability levels
• Environment turnover reached €556 mn, up 26% YoY driven by the International activity (up 43% YoY), with the Treatment activity representing 57% of the total

EARNINGS RELEASE 2022 Results Overview

Record Backlog1 of €12.6 bn, up €5 bn in 2022

• Record backlog following large project awards mainly in Angola, Mexico and Colombia related to railway infrastructures
• Mexico is the market with the largest backlog (30% of the total), followed by Angola (16%) and Nigeria (13%), pursuing the strategic vision to focus on core markets
• Backlog supports a visible and robust revenue stream for 2023 and reflects a comfortable E&C backlog/E&C Revenue ratio of 3.8 years
• Major projects awarded in 2022 and to start in the short term: Lobito Corridor (Angola), Line 4 Guadalajara light rail (Mexico), line 2 Medellín light rail (Colombia)

1Contracts already signed and financed. Excludes revenues from concessions contracts (highways and waste treatment).

Major construction projects currently in backlog1

Project	Range (€ mn)	Country	Segment	Exp. Year of Completion	Customer
Kano - Maradi	> 1,000	Nigeria	Railway Infrastructures	2025	Federal Ministry of Transportation
Tren Maya	> 1,000	Mexico	Railway Infrastructures	2027	Fonatur
Mining Moatize	> 500	Mozambique	Industrial Engineering	2024	Vulcan Minerals
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	2027	Ministério dos Transportes
Lafigue mine	> 500	Ivory Coast	Industrial Engineering	2028	Endeavour Mining PLC
Tren Maya Tulum-Akumal	[350,500[	Mexico	Railway Infrastructures	2024	Secretaría de la Defensa Nacional
New Bugesera International Airport	[350,500[	Rwanda	Airports	2024	Bugesera Airport Company
Coatza - Palenque rehabilitation	[350,500[	Mexico	Railway Infrastructures	2024	Secretaria de Marina
CMRO Nayarit	[200,350[	Mexico	Roads	2032	Banobras
Requalification of the Soyo Naval Base	[200,350[	Angola	Ports	2023	Simportex
Cabinda-Miconje rehabilitation	[200,350[	Angola	Roads	2026	Ministério das Obras Públicas e Ordenamento do Território
Tultepec - Pirámides highway	[200,350[	Mexico	Roads	2025	SAASCAEM
Gamsberg Mine	[200,350[	South Africa	Industrial Engineering	2029	Black Mountain Mining
Guadalajara Metro - line 4	[200,350[	Mexico	Railway Infrastructures	2024	Gobierno del Estado de Jalisco
Mandiana gold mine	[200,350[	Guinea	Industrial Engineering	2026	Managem Group
Consorcio Metro 80 Medellin	[200,350[	Colombia	Railway Infrastructures	2026	EMP - Empresa Metro de Medellin
Seguela Gold project	[200,350[	Ivory Coast	Industrial Engineering	2028	Roxgold Sango

Capex of €351 mn in 2022

Net capex (€ mn)

213	351
	10
	76
12
58	137
59	51
45 40	76
2021	2022
	Capital + others Capex
Environment Capex
long term contracts1 Capex –
	E&C growth Capex
E&C maintenance Capex

• Ratio Capex to revenues of 9%, driven by the Industrial Engineering long-term contract capex
• Growth and Long-term contracts represents 61% of the total capex
• Growth capex was fuelled by two countries, namely Angola with a new investment cycle due to the execution of a huge portfolio of new contracts and Mexico, which accounted for 73% of Latin America's E&C total capex (€72 mn) driven by the Maya train project
• Environment accounted for €76 mn, of which 79% in the Treatment business (EGF) and 14% in the International activity

Capex by Business Unit (€ mn)

Maintenance

Working capital management with cash inflow

	Dec. 22	Dec. 211	YoY
Balance sheet (€ mn)
Fixed assets	1,678	1,483	195
Financial investments	410	458	(48)
Long term receivables / (payables) & others	(358)	(206)	(152)
Working capital	(160)	(54)	(106)
	1,570	1,682	(112)

Equity	495	432	63
Provisions	135	124	11
Net debt	939	1,125	(186)
	1,570	1,682	(112)

• Working capital benefited from the focus on project cash conversion reinforced by the cooperation with multilaterals and ECA´s
• Equity increased €63 mn YoY

1Restated figures not considering Lineas accounted as "Non-current asset held for sale" (currently accounted in "Financial investments").

EARNINGS RELEASE 2022 Results Overview

Boost in cashflow from operations (+47% YoY)

1Net debt considers Angola's sovereign bonds denominated in US\$, US\$ linked and in kwanzas and Mozambique's sovereign bonds as "cash and cash equivalents" which amounted to €126 mn (€137 mn nominal value) in December 2022 (€222 mn Angola's and Mozambique's sovereign bonds in December 2021).

Net debt1 down €186 mn YoY and Gross debt2 stable, despite the 47% turnover growth

• Reduction of Net debt by €186 mn YoY, surpassing the leverage target and ensuring a debt structure and maturity aligned with the businesses' cash flow profile
• Net debt including Leasing, Factoring and Confirming amounts to €1.5 bn (ND/EBITDA of 2.8x), reflecting a reduction of €289 mn YoY
• Sale of €90 mn of Angolan Sovereign bonds in regulated market (BODIVA) at premium to nominal value, reflecting the high liquidity of the Angolan bonds

Net debt and net debt/EBITDA Gross debt and gross debt/EBITDA

• Gross debt down 2% YoY
• Positive evolution, despite the relevant activity increase along with a relevant capex from the Industrial Engineering projects, which will only generate cashflow throughout the execution period of LT contracts, thus reflecting a tight and careful management of cashflow and debt levels
• 16 Leasing, Factoring and Confirming amounted to €571 mn (of which € 350 mn in Leasing), decreasing €103 mn YoY

16

• 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 9.00 10.00

1Net debt considers Angola's sovereign bonds denominated in US\$, US\$ linked and in kwanzas and Mozambique's sovereign bonds as "cash and cash equivalents" which amounted to €126 mn (€137 mn nominal value) in December 2022 (€222 mn Angola's and Mozambique's sovereign bonds in December 2021). 2Includes leasing, factoring and confirming.

Comfortable liquidity position of €1.2 bn

GROSS DEBT1 MATURITY, DEC.22

Liquidity position corresponds to 1.75x of non-revolving financing needs with maturity less than one year

€453 mn already refinanced in 2023

• Stable cost of debt at 5.4% despite the increase of interest rates worldwide
• Cost of debt reflects different currency financings, including localcurrency debt in emerging markets with structural higher interest rates
• Average gross debt maturity of 2.3 years

Non-revolving Revolving

04

BUSINESS UNITS

BUSINESS UNITS

ENGINEERING & CONSTRUCTION

EUROPE

Highlights 2022

3 Countries

907M€ Backlog

20

PORTUGAL · SPAIN · POLAND

Key infrastructure projects to be tendered in Portugal

• E&C Europe turnover was €510 mn, of which 72% in Portugal.
• Profitability was well sustained reaching an 8% margin (2H22: 10%), notwithstanding the inflation context
• Backlog was €907 mn, with Portugal accounting for 58% with projects mainly in the railway and road segments
• Large projects in the pipeline, namely metro expansion works and the highspeed train project
• Expected boost from the Recovery and Resilience Plan in Portugal in the short-term as an opportunity to increase Public Investment up to 2026
• In Poland, a decrease in activity of 30% YoY on the back of a more selective bidding strategy, due to the uncertain context related to the conflict in Ukraine

Highlights 2022

6,399M€ Backlog 1,183M€ Turnover 13 Countries

ANGOLA · MOZAMBIQUE · MALAWI · SOUTH AFRICA ZIMBABWE · UGANDA · RWANDA · GUINEA-CONAKRY · CAMEROON CÔTE D'IVOIRE · KENYA · NIGERIA · MALI

EARNINGS RELEASE 2022 Africa E&C

Large projects to drive further growth

• Turnover up 44% YoY to €1,183 mn, of which 51% from Angola, Mozambique and Nigeria with almost all the markets showing a double-digit increase
• Industrial Engineering accounted for 31% of the segment turnover
• EBITDA up 30% YoY to €225 mn and EBITDA margin reaching 19% (2H22: 20%), showing a positive evolution from the 1H22
• Backlog of €6.4 bn (+39% YoY), of which c.€2.0 bn in Angola and c.€1.6 bn in Nigeria, focusing the commercial activity in the core markets
• 2023 focus will be on project execution and cashflow generation from the ongoing projects, while continuing developing and generating more solutions to the client
• Contracts are mostly denominated in hard currency (87%) or pegged to hard currency (11%)
• 89% of the contracts are received in Portugal or in countries from where we repatriate cash on a monthly basis
• 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 institutions

Industrial Engineering is one of the main growth drivers

€ mn

#	Mine	Commodity	Country	Contract amount	Backlog Dec-22
1	Moatize	Coal	Mozambique	870	293
2	Gamsberg	Zinc	South Africa	315	185
3	Morila	Gold	Mali	335	301
4	Tri-K	Gold	Guinea	241	128
5	Siguiri	Gold	Guinea	210	17
6	Luarica	Diamond	Angola	38	17
7	Moquita	Diamond	Angola	8	5
8	Seguela	Gold	Ivory Coast	213	201
9	Lafigué	Gold	Ivory Coast	563	563
				2,793	1,708

• Established relationships with large private players with activity in several countries (e.g. commodities).
• Stepped-up growth contributing to the increase weight of longcycle cash generation businessesin the Group
• Nine projects in operation in six countries (Mozambique, South Africa, Mali, Guinea, Angola and Ivory Coast).
• Long-term contracts (5-8 years) with previsibility of cash-flow generation
• Turnover increased 54% YoY to €361 mn
• EBITDA was up 19% YoY to €97 mn and profitability was 27%
• Backlog reached €1.7 bn and is currently one of the main growth drivers of the Group

LATIN AMERICA

Highlights 2022

MEXICO · PERU · BRAZIL COLOMBIA · DOMINICAN REPUBLIC · PANAMA

Mexico leading the way

• Turnover was up 145% YoY to €1,519mn, with all main markets posting an increase, and mainly driven by the execution of several road and railway projects in Mexico, which is the major market with a revenue of €1.2 bn
• EBITDA reached €146 mn, up 61% YoY and margin reached 10%
• Backlog was €4.8 bn, with Mexico accounting for €3.8 bn
• Large projects in the backlog such as, the Maya train, the Guadalajara light rail, the Monterrey railway in Mexico, mining projects in Peru and the Medellin railway in Colombia will support the achievement of record levels of revenues for the next couple of years
• Study of new opportunities in Mexico (infrastructures), Peru (Mining) and Brazil, where an Investment Plan is expected for the upcoming years
• The Energy business turnover increased 26% YoY to €185 mn, with EBITDA reaching €17 mn with a margin of 9%
• In 2022 the hydro energy generation in Mexico reached 820GW (installed capacity of 277MW)

ENVIRONMENT BUSINESS UNITS

Resilient business with international upside

• Turnover increased 26% YoY to €556 mn, with the waste treatment and the International activity accounting for 57% and 25%, respectively
• EBITDA was up 8% YoY to €131 mn and profitability was 24%
• Current relevant operations abroad include Angola (waste collection), Ivory coast (waste collection and treatment) and Brazil (waste collection and treatment)
• Backlog1 is only related to waste collection services and reached €381 mn
• Currently, analysing some international tenders of landfill concessions in Africa
• New cycle opened in 2023 will accelerate strategic plan execution in the waste management, mainly in core markets

HIGHLIGHTS OF THE TRANSACTION:

• Partnership with URBASER started in 1995 in Portugal with a JV in SUMA (Waste Collection and Urban Services)
• Both Shareholders decided to end the partnership through a win-win solution between parties
• Conclusion in 2023 conditional on the non-opposition decision by the Portuguese competition authority (AdC) among other conditions precedent
• Transaction between shareholders: Mota-Engil will sell 61.5% stake in the Industrial Waste segment and buy 38.5% stake in all other segments
• New structure will accelerate Mota-Engil's strategic plan execution leveraging on the Group's capabilities and footprint
• In 2023 this transaction will trigger a significant decrease in "noncontrolling interests", both in P&L and Equity

ME CAPITAL BUSINESS UNITS

Mota-Engil Capital activity and profitability

• Turnover of €105 mn, down 26% YoY, reflecting the sale process of some assets and a more conservative approach in Real Estate in Poland
• New Real Estate projects in Portugal in an early stage of development that will increase the contribution from 2023 onwards and exploring opportunities in the renewable energy segment related to mobility and energy generation/supply
• Asset Rotation Strategy remains as a priority in the development of the businesses related with concessions

New Concessions in Pipeline leveraging our track record and key competencies

• Awarded (PPP of 30 years) – Not included in Backlog
• Expect to sign the revised contract in the short term
• 3 years of works + 27 years O&M

Lisbon Hospital Oriental High Speed Train (Portugal)

• 2 Tenders expected in 2H23 + 2 tenders in 2025
• Total Investment of c. €9 bn with European Funds Committed
• 32 Mota-Engil leading a consortium with other Portuguese companiesfor the construction works

05 FINAL REMARKS ANDOUTLOOK

Final Remarks

• Record backlog and record turnover reflect Mota-Engil's successful commercial strategy and effective execution of projects
• Margins in line with historical levels with a strong evolution of cashflow generation, with FCFO increasing 47% YoY
• Gross and net debt decreased in 2022, benefiting from the efficient management of working capital
• Net debt/EBITDA ratio of 1.7x (from 2.7x in 2021)
• Focus on execution, with upside from opportunities in Infrastructure and Industrial Engineering at Mota-Engil's main markets

Guidance 2023

• Turnover growth of c.20%
• EBITDA margin aligned with historical levels
• Capex at levels of 2022
• Focus on organic cashflow generation
• Focus on backlog execution
• Proceeding strengthening the capital structure with controlled debt
• Strong Commitment with the ESG targets to be achieved up to 2026 with focus on a sustainable development
• Strategic Plan execution on track, with the strong performance and record backlog

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

"Associates" correspondsto the following caption of the consolidated income statement by natures: "Gains / (losses) in associates and jointly controlled companies";

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

"CAPEX" means the algebraic sum of the increases and disposals of tangible assets, intangible assets and rights of use assets occurred in the period, excluding the one assigned to concession businesses in Mexico;

"EBIT" corresponds to the algebraic sum of EBITDA with the following captions of the consolidated income statement by natures: "Amortisations 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" correspondsto the following caption of the consolidated income statement by natures: "Income before taxes";

"Equity" correspondsto the following caption of the consolidated statement of financial position: "Totalshareholder'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 associates"; "Financial investmentsin jointly controlled companies"; "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 "Rights of use assets";

"Leasing, Factoring and Confirming" 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"; "Lease liabilities – non – current"; "Suppliers and sundry creditors – non – current"; "Contract liabilities – non-current"; "Other non-current liabilities"; "Non-current assets held for sale" and "Non-current liabilities held for sale";

"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";

"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) in the acquisition and disposal of subsidiaries, jointly controlled and associated companies" and "Net monetary position";

"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 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" and "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 - current", "Corporate income tax".

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-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).

38

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

Portugal Poland Spain

Africa

Guinea-Conakry Cameroon Côte d'Ivoire Kenya Nigeria Mali Angola Mozambique Malawi South Africa Zimbabwe Uganda Rwanda

Latin America

Mexico Peru Brazil Colombia Dominican Republic 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