Grupo ACS

Investor Presentation • Nov 11, 2022

RESULTS PRESENTATION 3Q 2022

1

November 11th , 2022

3Q 22 Key figures

Figures in € million		9M22 reported	YoY Var.	YoY adjusted var. (1)
SALES		24,526	+20.4%	+10.6 %
BACKLOG		70,417	+13.6%	+2.2 %
EBITDA		1,263	+8.4%	+5.5%
EBIT		839	+8.2%	+9.5%
NET PROFIT	OPERATING OPERATING ACTIVITIES ACTIVITIES	421	+25.5%	n.a
	REPORTED REPORTED	480	+106.9%(2)	+103.2 % (2)
NET DEBT		(288)	+3,285	n.a

(1) Ex FX effect and, in operating results, adjusted by asset disposal in the last twelve months (Ventia and Energy assets) (2) Proforma comparison eliminating Industrial Services activity contribution in the comparable period

□ 3Q sales + 29.5% YoY backed by outperformance of core regions + USD appreciation.

□ Solid Backlog supported by strong LTM order intake (+6.9% YoY) and positive FX impact

□ Net Profit growth supported by:

• Positive performance of operating activities including contribution from Abertis
• Minorities buyout in CIMIC
• □ Solid financial position after sale of Industrial Services enables strategic transactions:
  • CIMIC takeover bid
  • Additional stake in HOT and
  • Acquisition of the SH288
• □ Net cash reduction YTD due to WC seasonal variation.

Geographical diversification

* Restated for Ventia's proportional backlog in Q3 21 after its reclassification as financial investment in Q1 22

9M22 – Results Presentation

Construction: operating performance

Construction: backlog

• o Backlog at record highs supported by strong order intake in the last 12 months amounting to 34.8 €bn (+6.9% YoY)
• o Positive FX impact from USD and AUD. Adjusted by FX backlog grew by 2.2%
• o Stimulus plans from Governments as key driver of demand for infrastructure investment

9M 22 largest awards

By activities - Concessions

Reinforcement of concessions with SH288 new acquistion

SH-288 Toll lanes within Harris County involving 4 new toll managed lanes that extend 10.3 miles, one of the longest concession tenors in North America

The Project was awarded in 2015 by TxDOT to the ACS led consortium under a public-private partnership (P3) agreement for 52 years. The managed lanes opened to traffic in November 2020 and have been operating successfully since then.

• Acquisition of 44.65% of the shares in with approximately 46 years remaining for a negotiated value as of June 2022 (\$858 M), with a ticking fee of 7.5% over time until Closing. In October, an additional 12.2% stake has been agreed to be acquired to one of the remaining shareholders.
• Total stake from both transactions reaching 78% with full asset consolidation. ACS already owned 21.62% of the Project (BV of 79 \$mn as of June 22) with a ROFO agreement, thus having deep knowledge of the asset.
• Total negotiated price for the 56% stake amounting to around 1.1 €bn Subject to authority (TxDOT) and TIFIA consents. Closing is expected if no delays on the consent process by 2022 year-end.

By activities - Services

Net Profit by activities

Figures in € Million		9M21	9M22	YoY Var.
	Construction		255	+22.1%
	Hochtief (ex ABE)	131	177	+35.1%
	Dragados	87	90	+3.6%
	Concessions		145	+36.1%
	Iridium	20	33	+65.7%
	Abertis	87	113	+29.5%
	Services (Clece)		22	+5.5%
Net Profit from operating activities		336	421	+25.5%
	Corporate (1) and others (2)		59
	Proforma(3) Net Profit		480	+106.9%

(1) Positive impact in 9M 22 from financial instruments related to ACS shares (25 €mn) and IS earn-out revaluation (65 €mn) while negative impact of 74 €mn from financial instruments related to ACS shares in 2021│ (2) It includes net profit from Energy and Real Estate activities │ (3) Not including the contribution from Industrial services activities sold to VINCI in 2021

9M22 – Results Presentation

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YTD Net debt evolution

(1) Positive FX effect partially offset by payments for CCGP Ichtys and Alto Maipó projects (from HOCHTIEF) (2) Amount net from HOT's capital increase suscribed by minorities (€ 61 mn)

Conclusions: Delivering commitments

Strategic Plan 2022

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.