Grupo ACS

Investor Presentation • May 13, 2022

RESULTS PRESENTATION Q1 2022

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May 13th , 2022

Q1 22 Key figures

Figures in € million	3M22 reported	YoY Var.
SALES	6,926	+8.4%	□ Sales recovery across activities and core regions + positive FX impacts
BACKLOG	65,870	+4.6%	□ Solid Backlog after awarding of a significant volume of projects in the last quarters
EBITDA	399	+21.6%	□ Raise in contribution from ABE supported by traffic recovery over
EBIT	283	+38.3%	pre-pandemic levels □ Resilient operating efficiency despite the current inflationary scenario and
NET PROFIT	136	+59.7%*	supply chain disruption
NET CASH POSITION	665	+4,355	□ Solid net cash position after sell of Industrial Services temporarily affected by seasonal WC variation

* Pro-forma comparable as Industrial Services contribution in 1Q 21 not considered

Geographical diversification

3M22 – Results Presentation

Net Profit by activities

Figures in € Million
	3M21	3M22	YoY Var.
Construction	73	81	+11.7%
Hochtief (ex ABE)	47	53	+13.9%
Dragados	30	32	+7.8%
Concessions	(4)	16	n.a.
Services (Clece)	7	8	+18.4%
Corporate*	10	31
Attributable Net Profit	85	136	+59.7%

*It includes net profit from ACS SCE & Cogesa

By activities - Construction

By activities - Concesions

Concessions' EBITDA evolution

Iridium – Evolution

• o Higher contribution from concessions raising EBITDA to €12 mn from € 6mn in Q1 21
• o Cash collection from 2021 divestments (Toledo Hospital) amounting to 62 €mn

Abertis – Key figures 3M21 3M22 Var. € Million

• o Average daily traffic performance of 15.8% yoy, above pre-pandemic levels in most geographies.
• o Positive operating performance driven principally by traffic recovery, offsetting the impact of the loss of perimeter (Acesa, Invicat and Sol).
• o € 1.1 bn cash collection from CAPEX compensation from the AP-7
• o Major capex projects in France with Plan de Relance and Plan d'Investissement Autoroutier and other works in federal network in Brazil and Italy.

By activities - Services

YTD Cash Flow evolution

(1) Includes Factoring Variation (€ 49 million)

Recent awards Q1 22

Conclusions

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Positive operating performance consolidating recovery trend

Resilient margins supported by risk mitigation tools across the Group to manage inflationary and supply-chain pressures

Solid backlog underpinned by positive momentum of order intake + increasing opportunities from stimulus packages across regions

Strategic plan progressing 4

Simplification of the Group structure:

• CIMIC takeover bid completed. Shares delisted from Sidney's S.E
• Minorities squeeze-out initiated after reaching > 97% stake
• CIMIC's full contribution the Group expected in Q2

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.