Grupo ACS

Investor Presentation • May 12, 2023

Q1 23 Key figures

Net Profit by activities

Figures in million euros	1Q22	1Q23	Var (%)
Construction	81	103	+26,3%
Concessions	16	48	+205%
Services	8	8	+0,2%
Profit from the Activities	105	159	+51.3%
Corporation & others (1)	31	4
Net Profit	136	163	+20.0%

(1) Includes the net profit of the Energy and Real Estate activities, as well as the results from financial derivatives linked to ACS shares

Performance by top countries

95% over total revenues

REVENUES

7,523 +17.4% €mn vs 1Q 22

▪ Strong performance across regions and activities, particularly North America and Australia

EBITDA

346 +6.1% €mn vs 1Q 22

▪ Margin convergence adjusted by business mix, CPI passthrough and risk reduction

BACKLOG

▪ 12.0 €bn order intake (+54% YoY)

Construction performance by region

REVENUES €mn

BACKLOG €bn

Q1 23 – Results Presentation 6

REVENUES

NET PROFIT

▪ Full consolidation of the SH 288

▪ Abertis strong performance after tariff increase

REVENUES

474 +8.4% €mn vs 1Q 22

▪ Operating margin stability ▪ Strong operating performance in Spain and abroad

26 +7.5%

EBITDA

€mn vs 1Q 22

BACKLOG

▪ Affected by seasonality as most contract renewals are signed in 4Q

YTD Cash Flow evolution

(*) Includes, among others, cash flows from the sale of Ventia, the Factoring balance variation, extraordinary payments (CCGP, Radiales) and the reclassification of the SH-288's debt

LTM Cash Flow evolution

Q1 23 – Results Presentation 11

Main Awards

Main Awards

Conclusions

+17.1% REVENUES

Across activites and core regions

Q1 23 12.4 €bn Particularly in new generation infrastructure

NET DEBT 1^x EBITDA

After 3.3 €bn strategic investments since January 2022

EPS 0.63 €

+30% after LTM 22 mn share buybacks

WIP

Legal Disclaimer

This document contains forward-looking statements on the intentions. expectations or forecasts of Grupo ACS or its management at the time the document was drawn up and in reference to various matters including. among others. its customer base. its performance. the foreseeable growth of its business lines and its overall turnover. its market share. the results of Grupo ACS and other matters relating to the Group's activities and current position. These forward-looking statements or forecasts can in some cases be identified by terms such as "expectation". "anticipation". "proposal". "belief" or similar. or their corresponding negatives. or by the very nature of predictions regarding strategies. plans or intentions.

Such forward-looking statements or forecasts in no way constitute. by their very nature. guarantees of future performance but are conditional on the risks. uncertainties and other pertinent factors that may result in the eventual consequences differing materially from those contained in said intentions. expectations or forecasts.

ACS. Actividades de CONSTRUCTION y SERVICES. S.A. does not undertake to publicly report on the outcome of any revision it makes of these statements to adapt them to circumstances or facts occurring subsequent to this presentation including. among others. changes in the business of the company. in its strategy for developing this business or any other possible unforeseen occurrence. The points contained in this disclaimer must be taken fully into account by all persons or entities obliged to take decisions or to draw up or to publish opinions on securities issued by Grupo ACS and. in particular. by the analysts and investors reading this document. All the aforesaid persons are invited to consult the public documentation and information that Grupo ACS reports to or files with the bodies responsible for supervising the main securities markets and. in particular. with the National Securities Market Commission (CNMV in its Spanish initials).

This document contains financial information drawn up in accordance with International Financial Reporting Standards (IFRS). The information has not been audited. with the consequence that it is not definitive information and is thus subject to possible changes in the future.