Mota-Engil — Earnings Release 2024

Feb 27, 2025

1

EARNINGS Release 2024

27 February 2025

Page 8

Page 3

02 Results Overview

04 Final Remarks and Overview Page ³⁰

03 Business Units

• 1. Europe E&C
• 1. Africa E&C
• 1. Latin America E&C
• 1. Environment
• 1. Mota-Engil Capital, Mext and Energy

Page 17

01 Key Highlights

Table of Contents

05 Appendix Page ³³

06 Q&A Page ³⁵

01

Key Highlights

EQUITY

¹After non-controlling interests.

²Includes leasing, factoring and confirming.

³IE - Industrial Engineering.

KEY HIGHLIGHTS

Main events since June 2024

TOP 10 IN LATAM #2 IN THE REGION

FIRST REPORT TO CDP

▪ Sale of E&C and Real Estate activities completed in September 2024

• Award of the 1 st stretch of the High-Speed Train (c.€2 bn for 100% of the project)
• Beginning of the works in the new Lisbon Hospital
• Award of the 1st expansion phase (Lisbon Airport)

▪ US\$576 mn: Industrial Engineering/Contract Mining project extension with Vulcan

▪ US\$290 mn: Industrial Engineering/Contract Mining project extension with Managem Group

MEXICO

• US\$1.2 bn: agreement with Pemex for a fertilizer plant
• Launch of Tren Maya, now fully operational
• Sale of Cardel-Poza Rica and Tuxpan-Tampico concessions

▪ Award of a €200 mn contract of maintenance and repair services for Petrobras

GUINEA

MOZAMBIQUE

POLAND

Recent recognitions:

TOP 10 IN AFRICA #8 IN THE REGION

TOP 15 IN EUROPE #14 IN THE REGION

Sustainability as a priority:

SUSTAINABILITY-LINKED BONDS €80 mn: Strong demand (1.73x Initial Offer)

LATIN AMERICA AFRICA EUROPE

• C.US\$500 mn: Bugesera International Airport - Work stream 2 awarded in November 2024
• IVORY COAST MALI ETHIOPIA
• US\$1.4 bn: Industrial Engineering/Contract Mining projects with Allied Gold awarded in November 2024

BRAZIL

Financing:

▪ Most attractive company to work in the Construction and Infrastructure sector in Portugal (Merco Talento Universitário study)

• African Export-Import Bank - long term facility
• Trade & Development Bank - long term facility
• Africa Finance Corporation - long term facility
• International Finance Corporation - credit approval
  • Dec.24 - long term facility
• African Development Bank - Engagement long-term

facility

-

Strategic actions	Delivery	2026 goals
Focus on core markets and large size contracts Follow the client strategy	2024: €5,951 mn (2022: €3,804 mn 2023: €5,552 mn)	Turnover €6 bn
Strict commercial selection criteria Cross-group efficiency program	EBITDA mg 2024: 16% (2022: 14% 2023: 15%)	16% EBITDA margin
Exit of non-performing markets and businesses Asset rotation in line with strategic guidelines	Net margin 2024: 2.1% (2022: 1.4% 2023: 2.0%)	Net margin 3%
Focus on cash conversion Maintaining a sustainable leverage	Net debt/EBITDA 2024: 1.81x	Net debt/EBITDA <2x
Increasing efforts towards Sustainability ESG top rating focus	Best Ranking ever in S&P Global Rating B- (CDP) on first questionnaire 3rd bond issue of sustainability-linked bonds	Attain top position in recognised ESG ratings

Building '26 strategy execution throughout 2024 Delivering two years ahead and looking beyond 2026

The foundation is set to begin working on an updated Strategic Plan in 2025, with new goals and ambitions through 2030

Reinforcement of ESG drive

Score above industry average
CDP
First questionnaire Rating B response

2023 42

S&P Global ESG Score

Results Overview

02

Group net profit reached an all-time high of €123 mn

• Turnover reached €5,951 mn, marking ^a 7% YoY increase and setting a new record, with the growth driven by all business units, achieving the 2026 strategic goal two years ahead of schedule

• Profitability was outstanding with EBITDA increasing 14% YoY to €955 mn and a margin of 16% mainly fuelled by the E&C segment

• Net financial interests and others were negatively impacted by the trend of the interest rates curve in the 1H24, and the interest rates basket of local currency debt in Africa and in Latin America

• Capital gains follow the strategic focus on core markets (sale of the Polish assets) and ongoing asset rotation policy (monetisation of two road concessions in Mexico)

• Associates performance related with early stage of operations in some concessions in Africa and in Latin America and the positive impact of Lineas and Martifer

• Non-controlling interests are mainly related to the operations in Mexico, Nigeria and Angola

• Group net profit of €123 mn, up 8% YoY reflects ^a net margin of 2.1%

P&L (€ mn)	2024	2023	YoY	2H24	YoY
Turnover	5 951 ,	5 552 ,	7%	3 219 ,	7%
EBITDA	955	837	14%	558	15%
Margin	16%	15%	1 p.p.	17%	1 1 p.p.
EBIT	586	516	14%	349	15%
Margin	10%	9%	1 p.p.	11%	1 p.p.
financial Net results and others	(182)	(136)	(34%)	(110)	(94%)
Net financial interests and others	(240)	(176)	(37%)	(145)	(50%)
Capital gains	58	40	44%	36	(11%)
Associates	7	15	(52%)	4	(44%)
EBT	411	396	4%	244	(4%)
profit Net Attributable to:	273	266	3%	155	(13%)
Non-controlling interests	151	153	(1%)	82	(14%)
Group Net profit	123	113	8%	73	(12%)
Margin	2 1%	2 0%	0 1 p.p.	2 28%	(0 p.p.) 5

Increased profitability with EBITDA margin of 16%

• Africa was the region that showed the best performance, driven both by the E&C and the Industrial Engineering, with the latter bringing a significant contribution to turnover and profitability
• The strong performance in Africa, mainly in the 2H24 reinforces confidence in the growth trend for 2025 and beyond, particularly with excellent profitability prospects and given that the backlog for the coming years is already secured
• EBITDA margin of 16% reflects the commercial strategy success, the rigorous project selection criteria and the operational optimisation, with profitability as the main focus

P&L breakdown (€ mn)	2024	%T	2023	%T	YoY	2H24	%T	YoY
(T) Turnover	5 ,951		5 552 ,		7%	3,219		7%
Engineering&Construction	5 300 ,		4 922 ,		8%	2 861 ,		9%
Europe	583		666		(12%)	286		(24%)
Africa	1 748 ,		1 518 ,		15%	1 089 ,		29%
E&C	1 330 ,		1 163 ,		14%	862		30%
Industrial Engineering	418		355		18%	227		26%
Latin America	2 976 ,		2 750 ,		8%	1 489 ,		5%
E&C	2 559 ,		2 288 ,		12%	1 355 ,		14%
Concessions Energy and	417		461		(10%)	135		(42%)
Other and intercompany	(7)		(12)		40%	(4)		59%
Environment	567		518		10%	303		15%
Capital and MEXT	141		134		5%	78		12%
Other and intercompany	(57)		(22)		(160%)	(23)		181%
EBITDA	955	16%	837	15%	14%	558	17%	15%
Engineering&Construction	820	15%	714	15%	15%	485	17%	16%
Europe	45	8%	54	8%	(16%)	23	8%	(40%)
Africa	453	26%	321	21%	41%	308	28%	77%
E&C	328	25%	233	20%	41%	237	27%	77%
Industrial Engineering	125	30%	88	25%	42%	72	32%	75%
Latin America	322	11%	340	12%	(5%)	154	10%	(25%)
E&C	287	11%	315	14%	(9%)	148	11%	(21%)
Concessions Energy and	35	8%	25	5%	42%	6	5%	(63%)
Other and intercompany	0		0		n.m.	(0)		n.m.
Environment	122	22%	110	21%	11%	68	22%	17%
Capital and MEXT	12	9%	12	9%	4%	8	10%	7%
Other and intercompany	(0)		1		n.m.	(3)		n.m.

• Backlog was up to ^a record of €15.6 bn, with the core markets accounting for 73% of the E&C backlog
• Angola, Mexico and Nigeria account for 21%, 20% and 13%, respectively, of the E&C backlog
• Industrial Engineering (Tier ¹ clients) represents 25% of the backlog, ensuring growth and solid margins in the upcoming years, with projects' maturities ranging between five and seven years
• Backlog/Turnover ratio for the E&C of 2.9 years
• The backlog does not include EGF's waste treatment business which still has ^a ten-year contract duration (2024 turnover: €349 mn)

Backlog by Business Unit E&C backlog by segment Backlog evolution (€ mn) Record backlog¹ of €15.6 bn with €8 bn awarded in 2024

¹First stretch of the high-speed train in Portugal not included. 2 IE: Industrial Engineering

• E&C Growth and Long-term contracts represent 65% of the total capex, mainly related to equipment for Industrial Engineering projects awarded in 2024 (Africa E&C represents 63% of the total capex)
• Capex in Africa related mainly to ongoing long-term contracts in Mozambique, Ivory Coast and Senegal, as well as, to three new Industrial Engineering contracts signed in the end of 2024
• E&C maintenance capex represents c.1% of E&C turnover, reaching its lowest point, as ^a result of processes optimisation in the equipment management and procurement fronts
• The Environment unit accounted for €74 mn, of which 83% was in the Treatment business in Portugal (EGF), ^a regulated asset base model

Net capex (€ mn) Capex of €511 mn fuelling long-term growth and profitability

Net capex by Business Unit (€ mn)

1 Includes Industrial Engineering contracts in Africa and the Energy business in Latin America.

Strengthened balance sheet, with a growing solvency ratio

• Working capital & long-term balances at efficient levels reflecting ^a ratio to turnover of 9%

• Equity/Assets ratio of 11%, confirming path towards ^a more robust capital structure

Total equity and Equity/Assets ratio

0 %

2 %

4 %

6 %

8 %

10%

12%

0

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900

Balance sheet (€ mn)	Dec.24	Dec. 23	YoY
Fixed assets	2,126	1,852	274
Financial investments	799	505	294
Provisions	(188)	(133)	(54)
Working capital & long-term balances	520	456	64
	3,258	2,680	578
Equity	849	746	103
Net debt + LFC1 )	2,410	1,934	475
	3,258	2,680	578

1) LFC - Leasing, factoring and confirming 2) IE: Industrial Engineering 3) Price at 31/12/2024 €2.914

¹Net debt considers Mozambique's sovereign bonds as "cash and cash equivalents" which amounted to €21 mn in December 2024 (nominal value €25 mn) and Angola's, Mozambique's and Ivory Coast's sovereign bonds as "cash and cash equivalents" which amounted to €124 mn (€131 mn nominal value) in December 2023. 2 Includes leasing, factoring and confirming.

Debt ratios effectively managed and under control Net debt¹ and Net debt/EBITDA Gross debt ² and Gross debt/EBITDA

• Net debt reached €1,732 mn with Net debt/EBITDA of 1.81x and an EBIT/Net Interest ratio of 2.7x
• Maintenance of Net debt/EBITDA <2x and Gross debt/EBITDA <4x, as targeted in the Building26 Strategic Plan
• Leasing, Factoring and Confirming amount to €678 mn (€759 mn in Dec. 2023)

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1.00x

2.00x

3.00x

4.00x

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6.00x

7.00x

0

2.00x

3.00x

4.00x

5.00x

6.00x

7.00x

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9.00x

10.00x

• Liquidity position exceeds the total amount of non-revolving financing instalments for the next three years
• Of the amount maturing within one year, €593 mn (70%) has already been refinanced in the beginning of ²⁰²⁵
• Average gross debt¹ maturity of 2.7 years (2.5 years in Dec.23)
• Average cost of gross debt at 7.7%, reflecting the context of higher interest rates curves, which prevailed until mid-2024, and the mix of interest rates applied to several local currencies in different countries, with expected improvement in 2025

Solid liquidity position

Liquidity: €1,142 mn
Cash available	€551 mn
Sovereign bonds available	€21 mn
Undrawn credit lines €570 mn

Gross debt¹ maturity, December 2024

¹Excluding leasing, factoring and confirming.

Business Units

03

Engineering & Construction

EARNINGS RELEASE 2024

2 COUNTRIES 583M€ TURNOVER

Europe E&C

PORTUGAL・SPAIN

3.1

HIGHLIGHTS 2024

• E&C Europe turnover decreased 12% YoY to €583 mn, impacted by the sale of the Polish E&C operations in September 2024 (revenue contribution of €119 mn in 2024 compared to €201 mn in 2023) and

• Backlog reached €928 mn with the Portuguese market increasing 57% YoY, mostly due to the award

• with the Portuguese operations remaining stable YoY
• EBITDA of €45 mn, down €9 mn, with ^a steady EBITDA margin of 8%
• of the New Lisbon Hospital in 2024 (the project is expected to reach full speed in 2H25)
• airport) presents a range of large opportunities ahead

• Mota-Engil was granted the first section (Porto-Oiã) of the high-speed train project during ²⁰²⁴, although this is not included in Dec. 24 backlog, with the project expected to start in 2026 up to 2030

• Positive outlook in the Portuguese market in the infrastructure segment (transport, high speed train,

Public infrastructure driving growth ahead

Turnover	EBITDA	EBITDA margin
€583 mn	€45 mn	8%
(-12% YoY)	(-16% YoY)	(0 p.p. YoY)

ANGOLA·MOZAMBIQUE·MALAWI SOUTHAFRICA ·ZIMBABWE·UGANDA · RWANDA·GUINEA-CONAKRY · CAMEROON· CÔTE D'IVOIRE·KENYA·NIGERIA·SENEGAL · ETHIOPIA

14 COUNTRIES 1,748M€ TURNOVER

3.2

Africa E&C

HIGHLIGHTS 2024

• Turnover growth accelerated in the 2H24 (+29% YoY) as expected, reaching €1,748 mn in 2024, with Nigeria

• EBITDA was up 41% YoY to €453 mn, representing an EBITDA margin of 26% (21% in 2023), driven by increased profitability in Angola, Nigeria and Rwanda, and Industrial Engineering showing a stronger

• Strong execution of major E&C projects, coupled with the start of production of certain Industrial Engineering

• Industrial Engineering has eleven ongoing projects, accounting for €418 mn in turnover (up 18% YoY) and an EBITDA of €125 mn (up 42% YoY), with strong prospects ahead, especially once the new projects secured in

• and Angola accounting for 29% and 18% of total turnover, respectively
• performance with 30% EBITDA margin (25% in 2023)
• projects, yielded profitability levels consistent with future projections
• 2024 progress from the ramp-up phase to sustained production levels
• reinforcing Mota-Engil's leading position in the African continent, trusted by major private clients
• launching new projects across the continent based on concession schemes
• Nigeria solidifying its relevance as core market, with several huge infrastructure opportunities

• Backlog reached ^a record level of €10.1 bn (+€3 bn YoY), of which €3.9 bn related to Industrial Engineering,

• The Lobito Railway Corridor in Angola, which completed its first full year of operations in 2024, stands as the most significant commodities logistics infrastructure in Africa and its success could serve as a model for

Accelerating and enhancing project execution

Turnover	EBITDA	EBITDA margin
€1,748 mn	€453 mn	26%
(+15% YoY)	(+41% YoY)	(+5 p.p. YoY)

MEXICO ·PERU ·BRAZIL · COLOMBIA ·PANAMA

3.3

Latin America E&C

HIGHLIGHTS 2024

• E&C turnover was up 8% YoY to €2,976 mn, of which 84% was in Mexico, despite the completion of the Tren

• Monetisation of two road concessions in Mexico: Cardel Poza-Rica (28.73%) and Tuxpan-Tampico (25.85%)

• Backlog of €4.2 bn, of which 71% in Mexico, followed by Brazil and Peru together representing 23%

• Maya mid-year, while Peru and Brazil accounted for 14%
• EBITDA was €322 mn (-5% YoY) with ^a margin of 11%
• market

• Huge pipeline in Mexico, with the Plan Mexico 2025-2030: portfolio worth US\$277 bn in domestic and foreign investments, distributed in 2,000 specific projects related to roads/highways; passenger train railways (5,645 km); industrial parks and clean energy generation (21,893 Mw of new installed capacity in the next 6 years)

• Brazil's massive Infrastructure Investment Plan (such as the Security and Energy Transition axis with an expected investment of €105 bn) as a driver for future growth and opportunity to reinforce position in the

Opportunities spread across different markets

Turnover	EBITDA	EBITDA margin
€2,976 mn	€322 mn	11%
(+8% YoY)	(-5% YoY)	(-1 p.p. YoY)

• Sale of the concessions Cardel Poza-Rica (28.73%) and Tuxpan-Tampico (25.85%) completed

• Recent transactions confirm the existing hidden value in the road concession business
• Several assets under development will drive further value generation under the Asset Rotation policy

Asset rotation strategy: delivering continuous results

¹To be concluded in the short term.

3.4 BUSINESS UNITS

Environment

Turnover and EBITDA up 10% YoY

¹ Excludes future revenues from concession contracts (Waste Treatment).

• Turnover up 10% YoY to €567 mn, of which Waste Treatment and International segments accounted for

• EBITDA of €122 mn, with profitability generally consistent and showing growth to ^a 22% margin, with Waste

• Turnover and performance of the Waste Treatment and the Waste Collection operations more than offset the negative impact of the sale of the Industrials business (recycling of used mineral oils) which was no longer consolidated in 2024 (in 2023 it had a contribution for turnover and EBITDA of €39 mn and €9 mn,

• 62% and 25%, respectively
• Collection posting a significant increase in profitability to 17% (from 14% in 2023)
• respectively)
• Backlog¹ of €235 mn, only related to waste collection services and of which 64% in Portugal
• and profitability

• New regulatory period 2025-2027 for the Waste Treatment activity (EGF) with ^a foreseen increase in activity

ENVIRONMENT

Turnover	EBITDA	EBITDA margin
€567 mn	€122 mn	22%
(+10% YoY)	(+11% YoY)	(+1 p.p. YoY)

3.5 BUSINESS UNITS

Mota-Engil Capital, Mext and Energy

Structuring large concessions and exploring new opportunities

• Concessions: New Lisbon Hospital and the two first tenders of the high-speed train (1 st stretch

• Setting up ^a new business unit, Mota-Engil Energia, to evaluate, invest and develop in waste-tovalue opportunities, namely the production of biomethane (several projects already identified and structured for execution) and power generation, with the main goal of capturing value from existing

• Turnover of €141 mn, a single-digit-growth aligned with the outlook
• Resilient EBITDA of €12 mn with 9% margin
• 2024 as a year of development of new projects and expansion in different segments:
  • awarded) by Mota-Engil Capital
  • infrastructures and with the support from specialized partners
  • Real Estate (Emerge): Investment in several projects with expected return in ²⁰²⁶
  • Malawi and Mozambique

• Forestry management, reforestation and carbon trade projects (MAMALAND) are at ^a very early stage, with activities starting in Cabinda (Angola) and being studied for potential future development in

Turnover	EBITDA	EBITDA margin
€141 mn	€12 mn	9%
(+5% YoY)	(4% YoY)	(Flat YoY)

MOTA-ENGIL CAPITAL, MEXT AND ENERGY

EARNINGS RELEASE 2024 ³⁰

Final Remarks and Overview

04

Final Remarks: Delivering ahead and looking beyond

Guidance 2025

Positioned for a resilient performance

Cash flow focus Delivering value to stakeholders

✓Single digit turnover growth, with Africa as the main driver of profitability for the coming years

✓Healthy EBITDA margin at 16%, contributing to the improvement of net margin

✓Maintain a high-quality backlog at historical levels, focused on our core markets and large projects that support our profitability strategy

✓Reinforcement of Cross-group efficiency program during 2025 (OPEX 50 Program)

✓Capex/turnover < 7%

✓Focus on free cash flow generation

✓Commitment to maintain Net debt/EBITDA <2x and a Gross debt/EBITDA <4x

✓Progressing towards the target of Equity/Asset >15%

✓Ongoing asset rotation strategy to consistently extract value from concessions, positively impacting net profit

✓Board of Directors to propose a dividend per share of €0.1497

✓Committed to a sustainable growth

Appendix

¹Selection of E&C projects above €200 mn and with 17 projects above €100 mn.

Major E&C and industrial engineering projects currently in backlog 1

Project	Range (€ mn)	Country	Segment	Exp. Year of Completion	Customer
Fertilizer industrial plant	> 1,000	Mexico	Buildings	2027	PEMEX
Kano - Maradi / Kano Dutse	> 1,000	Nigeria	Railway Infrastructures	2025	Federal Ministry of Transportation
Contract Corridor Maintenance - Lobito	[500,1000[	Angola	Infrastructures Railway	2054	Lobito Atlantic Railway - LAR
Kano-Maradi-Dutse project - Rolling stock	[500,1000[	Nigeria	Infrastructures Railway	2025	of Federal Ministry Transportation
Cacuso Zenza do Itombe- railway	[500,1000[	Angola	Infrastructures Railway	2029	of Ministry Transportation
Infrastructures of Corimba waterfront the	[500,1000[	Angola	Infrastructure Road	2029	of Ministry Public Works, Urbanism and Housing
Kurmuk Mine	[500,1000[	Ethiopia	Industrial Engineering	2029	Gold Corporation Allied
Gamsberg Mine	[500,1000[	South Africa	Industrial Engineering	2030	Vedanta Zinc International
Moatize Mine	[500,1000[	Mozambique	Industrial Engineering	2027	Vulcan
Subway L4, y 6 Monterrey 5	[300,500[	Mexico	Infrastructures Railway	2027	Gobierno del Estado de Nuevo Leon
Lafigué Mine	[300,500[	Coast Ivory	Industrial Engineering	2028	PLC Endeavour Mining
Gold Boto Mine	[300,500[	Senegal	Industrial Engineering	2029	Group Managem
Sadiola Mine	[300,500[	Mali	Industrial Engineering	2028	Allied Gold Corporation
TRI-K Gold Project	[300,500[	Guinea	Industrial Engineering	2026	Managem Group
HLO - Oriental Lisbon Hospital	[300,500[	Portugal	Civil Construction	2027	HLO - Sociedade Gestora do Edifício, S.A.
Cabinda-Miconje rehabilitation	[200,300[	Angola	Road Infrastructure	2027	Ministry of Public Works, Urbanism and Housing
Autopista Tultepec - Pirámides	[200,300[	Mexico	Road Infrastructure	2028	Concesionaria Tultepec-AIFA-Pirámides
Agbaou Mine	[200,300[	Ivory Coast	Industrial Engineering	2028	Allied Gold Corporation
Extension of the red line Lisbon subway	[200,300[	Portugal	Railway Infrastructures	2026	Metropolitano de Lisboa EP
Simandou project - Earthworks	[200,300[	Guinea	Civil Construction	2026	Rio Tinto Iron Ore Atlantic Ltd
Consorcio Metro 80 Medellin	[200,300[	Colombia	Railway Infrastructures	2027	EMP - Empresa Metro de Medellin
of infrastructures of Rehabilitation the general the Nova Vida urbanization	[200,300[	Angola	Civil Construction	2028	of Ministry Public Works, Urbanism and Housing

Glossary

• "Mota-Engil" means Mota-Engil, SGPS, SA, the Holding company with controlling interest in other companies, which are called subsidiaries;
• "Assets" corresponds to the following caption of the consolidated statement of financial position: "Total assets";
• "Associates" corresponds to the following caption of the consolidated income statement by natures: "Gains / (losses) in associates and joint ventures";
• "Backlog" means the amount of contracts awarded and signed to be executed;
• "CAPEX" means the algebraic sum of the increases and disposals of tangible assets, intangible assets and right of use assets occurred in the year, except the ones associated with the Mexican concessions;
• "CFO" corresponds to the algebraic sum of the following captions: EBITDA, Changes in working capital and Income tax;
• "EBIT" corresponds to the algebraic sum of EBITDA with the following captions of the consolidated income statement by natures: "Amortizations 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" corresponds to the following caption of the consolidated income statement by natures: "Income before taxes";
• "Equity" corresponds to the following caption of the consolidated statement of financial position: "Total shareholder's equity";
• "Financial investments" corresponds to the algebraic sum of the following captions of the consolidated statement of financial position: "Financial investments in associated companies"; "Financial investments in joint ventures"; "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 "Right of use assets";
• "Gross debt" corresponds to the algebraic sum of net debt with the balances 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 amortized cost"; "Lease liabilities" and "Other financial liabilities - factoring and payment management operations";
• "Group net income" or " Group net profit" corresponds to the caption of the consolidated income statement by natures of "Consolidated net profit of the year - Attributable to the Group";
• "Income tax" corresponds to the caption of the consolidated income statement by natures of "Income Tax";
• "Leasing, Factoring and Confirming" or "LFC" corresponds to the sum of the following captions of the consolidated statement of financial position: "Other financial liabilities - factoring and payment management operations" and "Lease liabilities";
• "Minorities" or "Non-Controlling Interests" corresponds to the caption of the consolidated income statement by natures of "Consolidated net profit of the period - Attributable to non-controlling interests";

• "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 amortized 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) on the acquisition and disposal of subsidiaries, joint ventures and associated companies" and "Net monetary position";

• "Net interests" corresponds to the algebraic sum of the following captions of the consolidated statement of financial position: "Financial income and gains interest income"; "Financial costs and losses – interest expenses";
• "Turnover" or "Revenue(s)" or "Sales" or "Top-Line" corresponds to the caption of the consolidated income statement by natures of "Sales and services rendered";
• "Working capital & long-term balances corresponds to the following captions of the consolidated statement of financial position: "Total assets" - "Total liabilities", excluding "Fixed assets", "Financial investments", "Provisions", "Net debt" and "LFC".

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 forward-looking 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 forwardlooking 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).

The financial information presented in this document is not audited.

Disclamer

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

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