Jan-Jun Tel:

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1 Jan-Jun ir@ferrovial.es Tel:

2 Disclaimer This document may contain statements that constitute forward looking statements about the Company. These statements are based on financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations, which refer to estimates regarding, among others, future growth in the different business lines and the global business, market share, financial results and other aspects of the activity and situation relating to the Company. Such forward looking statements, by its nature, are not guarantees of future performance and involve risks and uncertainties, and other important factors that could cause actual developments or results to differ from those expressed in these forward looking statements. Analysts and investors, and any other person or entity that may need to take decisions, or prepare or release opinions about the securities issued by the Company, are cautioned not to place undue reliance on those forward looking statements which speak only as of the date of this communication. They are all encouraged to consult the Company s communications and periodic filings made with the relevant securities markets regulators and, in particular, with the Spanish Securities Markets Regulator. Note on accounting changes: On 26 October 2011 Ferrovial sold 5.88% of FGP Topco, the holding company of the HAH group. This resulted in HAH being consolidated by the equity method from November 2011 onwards. Under NIIF 5, 2011 results from HAH are reported under the headline of Net income from discontinued operations for 10 months while 2 months are accounted under the Equity-accounted affiliates HAH results are accounted under Equity-accounted affiliates. 2 ir@ferrovial.es Tel:

3 Agenda O p e r a t i n g p e r f o r m a n c e 3 ir@ferrovial.es Tel:

4 shaping the future Sustainable infrastructures and cities operational excellence and innovation, creating value for society, investors, employees, customers 4 ir@ferrovial.es Tel:

5 How to manage Financially Low level of corporate debt Asset rotation to support growth Operationally Efficient asset allocation Operational value generation 5 ir@ferrovial.es Tel:

6 Ferrovial Business Overview 2012 figures 145mn Dividends from Airports INFRASTRUCTURE PROJECTS Leading European airport operator Ownership and manager of 4 UK airports, including Heathrow 220mn Dividends from Toll roads Ring fenced debt Capital intensive / Inflation protected / LT duration & financing Leading sponsor of tollroads infrastructure development worldwide Key developer of ETR 407 Design, build, finance & operation PARENT COMPANY Controlling Shareholder 43% Free float 57% 337mn EBITDA from Construction 314mn EBITDA from Services EXCL INFRA PROJECTS Net cash position Non capital intensive / Backlog visibility / EPS accretive One of the European construction leading groups Civil engineering, industrial construction & water treatment Leading provider of infrastructure services Infrastructure & Maintenance management Urban services & waste management 6 ir@ferrovial.es Tel:

7 Cash generation through the group ( ) Parent 1.4bn Dividends Asset rotation 3.4bn Equity contribution to new projects Cintra dividends over the period comparable to equity investment (current portfolio) Operating Cash flow 3.5bn Asset rotation 0.9bn 1.7bn 1.9bn Infrastructure Projects (1) Ex Infrastructure Projects Dividend payment to parent Asset rotation Limited investment requirements Strong CF generation - upstream to parent (1) Includes projects from airports, toll roads, construction and services 7 ir@ferrovial.es Tel:

8 Debt Structure E X I N F R A P R O J E C T S Net debt evolution ex-infra projects NET CASH 427mn ,172 1,547 1,987 3,064 Net debt ( mn) H13 Infrastructures P R O J E C T S Debt allocated at project level NET DEBT 6,886mn Projects under development not generating EBITDA mn Net debt NTE 506 LBJ 781 TOLL ROADS* Debt 6,538mn TOTAL 1,287 19% Of Toll roads net debt * 1.131mn related to R4 & OLR, both filed for creditor protection 8 ir@ferrovial.es Tel:

9 No meaningful maturities until 2018 Financial position (ex-infra projects) million maturities 1BN Liquidity position June 2013 million Total cash Undrawn lines Total liquidity 9 ir@ferrovial.es Tel:

10 Agenda O v e r v i e w 10 ir@ferrovial.es Tel:

11 Highlights (2013 year to date) 1 Financial Corporate bonds 2 Future Enterprise acquisition ( S e r v i c e s ) New managed lanes ( Te x a s ) 3 Operations 24bn backlog (Construction & Services) 4 Value Airports disposal 5 Cash Position ex-infra projects 427mn Net cash / 2.7bn Liquidity 11 ir@ferrovial.es Tel:

12 Diversifying corporate financing Enhancing maturities, reducing cost From bank debt to capital markets Size Maturity Spread Rating 500 mn 2018 (5 years) +240 bps / 3.375% all-in BBB- (S&P), BBB- (Fitch) Size Maturity Spread Rating 500 mn 2021 (8 years) +200 bps / 3.375% all-in BBB (S&P), BBB- (Fitch) Ferrovial's track record of conservative financial management, has led us to revise the company's financial risk profile upward. We view Ferrovial's management and governance as "strong." This reflects our view of the company's clear strategic plans that are consistent with its capabilities, and its experienced management team, which in our view has good operational effectiveness and good depth of expertise ir@ferrovial.es Tel:

13 Future growth Enterprise acquisition (i) Enterprise: one of the UK's leading providers of services to utilities and the public sector Efficient Execution Entry into Utilities services Cost synergies Service enhancement through Amey s asset management skills Balanced portfolio of activities Scale and geographic coverage in UK Firm value GBP 385 mn Value Creation Synergies Cost reduction 28m p.a. Asset Management contribution 11m p.a. Market Growth Utilities 5-7% Local Government 3-5% IRR c.15% Capabilities to be exported to other countries 13 ir@ferrovial.es Tel:

14 Future growth Enterprise acquisition (ii) FM 20% Environm. 1% Consulting 19% Roads & Rail 60% Roads 12% FM 17% Environm. 23% Utilities 48% Consult. 10% Environm. 11% FM 18% Utilities 22% Roads & Rail 39% 2012 data Major Player in the UK 1.2bn 13.7% 95.9m 7.9% 5.9bn Revenues CAGR EBITDA EBITDA Margin Order Book 1.1bn 4.6% 59.9m 5.4% 2.3bn 2.3bn 9.1% 155.8m 6.7% 8.5m Capex 18.6m 27.1m 8.2bn Note: EnterpriseMouchel JV not included. Defence JVs consolidated proportionally. Breakdown of Enterprise activities: FM includes Defence and Social Housing 14 Tel:

15 Crystalizing value Stansted (Completed in January 2013) Edinburgh (Completed in 2012) EV: GBP 1,500mn EV: GBP 807mn 16x EBITDA 16.7x EBITDA Proceeds applied to: Proceeds applied to: Early debt repayment Early debt repayment GBP300mn streamed out of the securitized group (debt cancelation or dividends) 15 Tel:

16 Strong Backlog (Construction & Services) Backlog at Record levels Highest ever International Contribution Construction +61% % 30% 14.7 Domestic Services International ( bn) 36% 64% International 38% 66% Domestic International Strong backlog of 23.7bn as of 1H 13 (40 months of activity) 16 ir@ferrovial.es Tel:

17 Operating improvement - Heathrow Departures punctuality 80% Missed bags per 1,000 passengers 40 63% % passengers rating Heathrow Excellent or Very good Overall satisfaction with Heathrow ASQ trend Q % 48% Heathrow EU average Top EU Quartile 17 ir@ferrovial.es Tel:

18 Business Overview Airports Focus on quality service Higher traffic due to load factor Q6 ( ) tariffs proposal in October Toll roads Focus on greenfield projects New concession award (USA) NTE 3A-3B managed lanes Services Integration of Enterprise acquisition Focus on cash flow Construction No global or volume ambitions Competitive tool for complex infrastructure projects 18 Tel:

19 19 Tel: Appendix

20 Appendix 1 H R e s u l t s I n t r o d u c t i o n t o E T R T o l l r o a d M a n a g e d L a n e s T o l l r o a d s E n t e r p r i s e a c q u i s i t i o n F u l l y e a r r e s u l t s 20 ir@ferrovial.es Tel:

21 1H 2013 results EUR MN JUN 13 JUN 12 Var% L-f-L% JUN 13 JUN 12 VAR.% L-f-L% Revenues EBITDA EBITDA margin 3, % 3, % 2.8% -5.5% 3.8% -1.6% Construction Toll Roads Services Others Total 1, , , , , , n.s Period depreciation EBIT EBIT margin Disposals & Impairments Financial results % % % -4.2% Construction Toll Roads Services Others Total JUN JUN VAR.% n.s L-f-L% Equity-accounted affiliates EBT JUN 13 JUN 12 VAR% Corporate income tax Construction backlog Services backlog 8,102 15,592 8,699 12, CONSOLIDATED NET INCOME Discontinued operations Minorities NET INCOME ATTRIBUTED Traffic evolution ETR-407 (VKT) Chicago Skyway (ADT) Indiana Toll Road (ADT) Autema (ADT) Ausol I (ADT) Ausol II (ADT) Heathrow (million passengers) JUN 13 1,106,360 38,288 25,765 14,130 10,132 12, MAR 12 1,106,661 39,729 25,447 15,924 12,300 13, VAR% ir@ferrovial.es Tel:

22 Profit & Loss ( mn) Net Revenue EBITDA Depreciations EBIT Disposals & impairments (2) Net Financial Result Equity accounted EBT Taxes Minorities TOTAL 3, (113) (186) (51) 20 VAR. L-f-L (1) 4% -2% -4% NET PROFIT (1): Like-for-Like: Excluding forex impact, perimeter variations and fair value adjustments (2) Included in EBIT at the statutory accounts 22 ir@ferrovial.es Tel:

23 Toll roads million Revenues % EBITDA % EBITDA % 60.7% 1H13 % L-f-L Traffic solid in US, weak in Europe 407ETR EBITDA + 10% Dividend paid YTD CAD430mn 1H13 % L-f-L Traffic EBITDA Autema % Chicago Skyway -3.6% +14% Ausol -18% -23% ETR (VKT) -0.3% +7% Indiana Toll Road % -2% Traffic combines ADT growth (+0.7%) & slight decrease in number of vehicles (-1.0%) New concession award NTE 3A-3B, US$ 1.4bn, 48 years after construction (2018). Financing is expected to be closed during the 3Q 13 1 Financial asset 2 Equity method 23 ir@ferrovial.es Tel:

24 Services million 1H 13 % L-f-L UK Spain Revenues 1,681 18% EBITDA % EBITDA % 8,2% -160 bps Backlog 15, % +32% +18% +38% Revenues EBITDA BACKLOG L-f-L -0.3% -0.4% +8% Geographical breakdown Revenues Backlog Spain resilient performance in a difficult economic context RoW 51% Spain 49% RoW 59% Spain 41% Amey growth due to Enterprise s consolidation since 1 st April 24 ir@ferrovial.es Tel:

25 Construction million 1H13 % L-f-L Budimex Webber Spain &RoW Revenues 1,859-8% EBIT 140-1% EBIT % 7.5% +50 bps Backlog 8,102-6% Revenues -31% +27% -2% EBIT -38% +72% +2% Backlog +11% -10% -9% Geographical breakdown Domestic Backlog Residential 2% Work breakdown Industrial & other 18% Growth in Texas partially offset declines in Poland and Spain International backlog* 73% International* 80% NTE3A-3B (US$1.4bn) not yet in backlog 42% 27% 13% 18% Civil works US* Spain Poland RoW 25 ir@ferrovial.es Tel: *Including NTE extesnsion ( 764mn)

26 HAH (Equity method, FERROVIAL stake 33.65%) 100% GBP million 1H13 % L-f-L Revenues 1, % The positive traffic growth was due to higher load-factors & larger aircraft. EBITDA % EBITDA % 51.5% +310bps NET DEBT 12, % Traffic Terminal 5 voted world s best terminal Dividend paid YTD GBP128mn (PAX Mn) 1H13 % Double digit EBITDA growth Heathrow % Debt reduced due to Stansted disposal Shareholders 33.65% 20.00% 13.29% 11.88% 10.0% 11.18% Ferrovial Qatar Brittania GIC CIC Alinda 26 ir@ferrovial.es Tel:

27 Appendix 1 H R e s u l t s I n t r o d u c t i o n t o E T R T o l l r o a d M a n a g e d L a n e s T o l l r o a d s E n t e r p r i s e a c q u i s i t i o n F u l l y e a r r e s u l t s 27 ir@ferrovial.es Tel:

28 407 ETR Would you buy this company? Figures in $CAN million S h a r e h o l d e r ' s f u n d N e t d e b t , : 27x Debt/Ebitda ,262 5,219 Accounting losses High debt 28 ir@ferrovial.es Tel:

29 407 ETR Ferrovial bought this company Figures in million C a s h g e n e r a t i o n ( ) 407 ETR V a l u a t i o n ( % ) Initial equity investment (62%) (326mn) 100% pay-back 7,575 Dividends (00-12) 834mn 10% disposal 640mn first 10 years 14x NET CASH IN 1,474mn Valuation x * M a t u r i t y years to maturity Strong dividend flow Equity valuation sharp increase * December 12 analysts consensus 29 ir@ferrovial.es Tel:

30 407 ETR Location Area of expansion 407 East extension High density population area Ring road of Toronto 108 km Tel:

31 407 ETR All Electronic Roadside Tolling System 31 Tel:

32 Fast Safe Reliable 407 ETR LOCATION Greater Toronto Area 23% of Canada population HIGH HOUSEHOLD INCOME 46% higher than Canada average SPEED Alternatives routes 40kph vs 100kph at 407 NO REGULATORY REVIEWS During concession life (99 years) TRAFFIC Alternatives routes are highly congested TOLL RATE HIGH FLEXIBILITY Including segment, direction, time of the day NON-STOP TOLL FACILITY Fully electronic with interchanges every 3km FAST Reliable travel times 32 Tel:

33 407 ETR Financial overview ($CAD million) Revenues Capital Expenditure CAGR: 8.3% years to maturity OPEX Dividends 104 CAGR: 2.8% % pay-back in first 10 years EBITDA CAGR: 9.8% EBITDA % 608 Free-tariff revision 27 Net Debt / EBITDA X % 77% 79% 76% 80% 82% 8% CAGR 02-12* * Tariff increase for light Vehicles in Peak hours regular zone (%) ir@ferrovial.es Tel:

34 407 ETR Recurrent presence in the bond market (June 13) Extending maturities at historically low cost CAD 2,950mn issued since ,49% 3,58% Maturity years ,58% 1,70% 1,56% 1,60% 1,39% Spread Yearly average maturity: Only 3% of total debt ir@ferrovial.es Tel:

35 Appendix 1 H R e s u l t s I n t r o d u c t i o n t o E T R T o l l r o a d M a n a g e d L a n e s T o l l r o a d s E n t e r p r i s e a c q u i s i t i o n F u l l y e a r r e s u l t s 35 ir@ferrovial.es Tel:

36 Managed Lanes New assets landmark Express Tollway within an Existing Highway Free Lanes Tolled Lanes Speed >50mph Free Lanes A solution to congestion on existing urban corridors by means of Active management of newly added capacity through tolling 36 ir@ferrovial.es Tel:

37 Managed Lanes Level of demand NTE (untolled) 407ETR (tolled) Peak period Time of the day Westbound Eastbound Time of the day 37 Tel:

38 Managed Lanes Travel time reliability (NTE) Based on NTE data ML will provide users a reliable and certain travel time 7 miles Travel Time (Minutes) min Distance (miles) (*) Peak period observations For a 7 mile trip, a user can save up to 30-40min in rush hour if using the ML (NTE Eastbound lanes) 38 ir@ferrovial.es Tel:

39 Managed Lanes Lyndon B Johnson KEY CHARACTERISTICS DESCRIPTION: IH 635 (Dallas County), the most populous county in Texas 108Km Electronic toll LENGTH: CONCESSION PERIOD: 13 mile section of the IH 635 and IH 35E 52 years TARIFF POLICY: Open Road Tolling System (no toll booths) with a dynamic tolling regime (every 5 minutes) to maintain at all times a minimum speed of 50 mph Heavy congested area, almost cars per day No toll-booths, fully electronic free flow tolling system Tollway within a freeway: Motorists will be provided with a choice of driving in non-tolled GP lanes or paying a toll to bypass such GP lanes Tolls setting to ensure minimum speed on new lanes 51% 42% 7% CINTRA SHAREHOLDERS STRUCTURE MERIDIAM FINANCIAL STRUCTURE DALLAS FIRE&POLICE PENSION SCHEME As demand grows and capacity becomes scarce, 25% 54% 20% pricing power increases EQUITY DEBT PUBLIC FUNDS Physically separated from the GP lanes with controlled access 39 ir@ferrovial.es Tel:

40 Managed Lanes North Tarrant Express KEY CHARACTERISTICS DESCRIPTION: Dallas-Fort Worth Metroplex, Major thoroughfares between Fort Worth and DFW Airport LENGTH: 13 mile section (IH 820 & SH 183 in Tarrant County) CONCESSION PERIOD: 52 years TARIFF POLICY: Open Road Tolling System (no toll booths) with a dynamic tolling regime (every 5 minutes) to maintain at all times a minimum speed of 50 mph Heavy congested area, almost cars per day No toll-booths, fully electronic free flow tolling system Tollway within a freeway: Motorists will be provided with a choice of driving in non-tolled GP lanes or paying a toll to bypass such GP lanes Tolls setting to ensure minimum speed on new lanes 57% 33% 10% CINTRA SHAREHOLDERS STRUCTURE MERIDIAM FINANCIAL STRUCTURE DALLAS FIRE&POLICE PENSION SCHEME As demand grows and capacity becomes scarce, 21% 52% 27% pricing power increases EQUITY DEBT PUBLIC FUNDS Physically separated from the GP lanes with controlled access 40 ir@ferrovial.es Tel:

41 Managed Lanes Financial Overview Financial details Financial details Total Investment: 2.05 bn Private Equity: 427 m Cintra: 243 m (57%) Meridiam: 141 m (33%) DPFPS: 43 m (10%) Total Debt: 1.05 bn PABs: TIFIA: 21% 52% 27% 400 m 650 m Public Funds: 537 m Total Investment: 2.7 bn 25% Private Equity: 665 m Cintra: 339 m (51%) Meridiam: 282 m (42%) DPFPS: 44 m (7%) 54% Total Debt: 1.47 bn PABs: 615 m TIFIA: 850 m 20% Public Funds: 496 m First combination of TIFIA and tax exempt PABs. First un-wrapped bond issuance for a toll road. First time TIFIA allowed additional debt to be raised beyond its approved federal subsidy cap. First time that a U.S.-based pension fund made a direct investment in a highway concession. First privately-financed road development project of its kind to reach financial close in Texas third big recent road project to reach financial close since Figures in US Dollars 41 ir@ferrovial.es Tel:

42 Appendix 1 H R e s u l t s I n t r o d u c t i o n t o E T R T o l l r o a d M a n a g e d L a n e s T o l l r o a d s E n t e r p r i s e a c q u i s i t i o n F u l l y e a r r e s u l t s 42 ir@ferrovial.es Tel:

43 Enterprise acquisition Scope Acquisition 100% of Enterprise 1) Revenue: 1.1 billion; EBITDA: 60 million; employees: 9,600 (2012) 1) Acquirer Ferrovial Services Integration of Enterprise into Amey, Ferrovial Services subsidiary in the UK Price Firm value: 385 million Financing Use of Ferrovial Services existing cash balance Other Completion subject to European Commission clearance Note: EnterpriseMouchel JV not included. Defence JVs consolidated proportionally 43 Tel:

44 Amey+Enterprise Solid Foundations for Profitable Growth 2012 data Amey + Enterprise Revenue Growth Revenues CAGR Order Book 1.2bn 13.7% 5.9bn 1.1bn 4.6% 2.3bn 2.3bn 9.1% 8.2bn Pipeline 8bn 12bn 19.5bn Operational Efficiency EBITDA EBITDA Margin 95.9m 7.9% 59.9m 5.4% 155.8m 6.7% Capex 8.5m 18.6m 27.1m Note: EnterpriseMouchel JV not included. Defence JVs consolidated proportionally 44 ir@ferrovial.es Tel:

45 Enterprise - Major UK Services Provider 2012 Revenues: 1.1 billion Wide geographical coverage Water 224 Utilities & Defence Power Gas Defence 111 Environment 251 Government Services Local Roads Social Housing & FM c.20 utilities c.50 councils Note: Enterprise Mouchel JV not included. Defence JVs consolidated proportionally 45 ir@ferrovial.es Tel:

46 Strategic Rationale 1 Entry into Utilities services Cost synergies Service enhancement through Amey s asset management skills Balanced portfolio of activities Leading UK services provider with broad capabilities, diverse markets and comprehensive geographical coverage 5 Scale and geographic coverage in UK 46 ir@ferrovial.es Tel:

47 Diverse and Balanced Portfolio Revenue 1.2bn Revenue 1.1bn Major Player in the UK Revenue 2.3bn 2012 data Consulting 19% FM 20% Environm. 1% Roads & Rail 60% Roads 12% FM 17% Environm. 23% Utilities 48% Consult. 10% Environm. 11% FM 18% Utilities 22% Roads & Rail 39% Note: EnterpriseMouchel JV not included. Defence JVs consolidated proportionally. Breakdown of Enterprise activities: FM includes Defence and Social Housing 47 Tel:

48 High Potential of Value Creation Synergies Cost reduction 28m pa Asset Management contribution 11m pa Market Growth Utilities 5-7% Local Government 3-5% Value Creation IRR c.15% Efficient Execution Rigorous and systematic approach Ferrovial Services proven track record Capabilities to be exported to other countries 48 Tel:

49 Platform for Growth in Attractive UK Markets Market size CAGR E Growth drivers Enterprise customer base (examples) Entry to Utilities market 19bn 5-7% Focus on maintenance spend in new regulatory cycles Asset management approach Outsourcing Severn Trent United Utilities Western Power Smart infrastructure Acceleration of growth in Local Government 14bn 3-5% 1) Outsourcing Service Integration Development of new treatment capacity Kent Staffordshire Liverpool 1) Includes Environmental Services and Local Roads Source: UK Department for Communities and Local Government, UK Department for Transport, market reports, companies, Ofwat, Ferrovial Services analysis 49 Tel:

50 40m Recurring Synergies from 2015 c. 40m recurring synergies in 2015 Systematic approach to integration 39 Focus on key cost and revenue drivers 31 Additional revenue 11 Procurement and direct costs Central and divisional overheads Integrated sale of asset management and consulting services 14 Cost reduction 28 Integration Plan implemented by a Project Office with dedicated resources Assessment and retaining of Enterprise s talent and best operational practices Estimated one-off investment c. 40m ir@ferrovial.es Tel:

51 Appendix 1 H R e s u l t s I n t r o d u c t i o n t o E T R T o l l r o a d M a n a g e d L a n e s T o l l r o a d s E n t e r p r i s e a c q u i s i t i o n F u l l y e a r r e s u l t s 51 ir@ferrovial.es Tel:

52 FY 2012 results EUR MN Revenues EBITDA DEC 12 7, DEC 11 7, Var% +3.2% +13.4% L-f-L% +0.9% +11.2% Construction Toll Roads Services Others Total DEC 12 DEC 11 VAR.-% L-f-L% 4, , , , , , n.s EBITDA margin 12.1% 11.0% Period depreciation EBIT EBIT margin Disposals & Impairments % % % +10.6% Construction Toll Roads Services Others Total DEC DEC VAR.% n.s L-f-L% Financial results % Equity-accounted affiliates EBT Corporate income tax Construction backlog Services backlog DEC 12 8,699 12,784 DEC 11 9,997 12,425 VAR% CONSOLIDATED NET INCOME Discontinued operations Minorities NET INCOME ATTRIBUTED ,242.5 Traffic evolution ETR-407 (VKT) Chicago Skyway (ADT) Indiana Toll Road (ADT) Autema (ADT) Ausol I (ADT) Ausol II (ADT) Heathrow (million passengers) DEC 12 2,340,004 42,228 27,459 15,056 12,537 14, DEC 11 2,325,517 42,066 27,142 19,114 14,254 15, VAR% ir@ferrovial.es Tel:

53 Solid Cash Flow Generation Ex - Infrastructure Projects (operating cash flow) Infrastructure Projects (dividends) Swissport (sold in 2011) Construction Services Strong cash flow generation from construction and services activities Cash flow upstream from infrastructure projects Resilient performance through the crisis 53 ir@ferrovial.es Tel:

54 What have we done in 2012? Operational Growth (Tariffs) Heathrow +12.7% 407ETR +8% New Contracts 407ETR extension Sheffield maintenance US 406 Virginia Assets rotation 16.34% HAH Stansted airport Edinburgh airport X16.0 EV/EBITDA X16.7 EV/EBITDA Balance Sheet BAA Initial dividend 407ETR dividend LT bond issuance 54 Tel:

55 Toll roads million Revenues 381-3% EBITDA 272-5% EBITDA % 71.2% 2012 % L-f-L 220mn dividends from projects (2011, 159mn) Traffic recovery in US, weak in Europe New projects awards ETR East Extension (Canada) CAD1,100 mn % 2012 Traffic EBITDA L-f-L Autema 1-21% +35% Chicago Skyway +0.4% +5% Ausol -11% -9% A66 (Spain) 192 mn Pipeline Focus on the US ETR % +10% Indiana Toll Road % +4% New office in Australia & Colombia Selective monitoring of emerging markets 1 Financial asset 2 Equity method 55 ir@ferrovial.es Tel:

56 407ETR (Equity method, FERROVIAL stake: 43%) CAD million Revenues 2012 % L-f-L % EBITDA % EBITDA % 82.9% +90bps Net debt 5,219 +8% Resilient performance Sharp increase in dividend EBITDA growth (+10%) Traffic (+0.6%) Opex optimization (+3,8%) Dividend (CAD million) EBITDA (CAD million) Tariff growth Long term bond issuances 30 years / CAD400mn / 4.19% 40 years / CAD200mn / 3.98% No relevant maturities until ir@ferrovial.es Tel:

57 Services million 2012 % L-f-L UK Spain Revenues 2,951 +1% EBITDA 314-2% EBITDA % 10.6% -50 bps Backlog 12, % +8% -3% +12% Revenues EBITDA BACKLOG L-f-L -5% -1% -10% Geographical breakdown Strong cash flow generation 491mn Revenues Backlog (2011, 164mn) Resilient performance in a difficult UK 51% Spain 49% UK 56% Spain 44% economic context Record backlog at year end 57 ir@ferrovial.es Tel:

58 Construction million 2012 % L-f-L Budimex ex_pni* Webber Spain &RoW Revenues 4,326 0% EBIT % EBIT % 6.9% +190 bps Backlog 8,699-14% Revenues +4% +28% -9% EBIT +8% +41% +63% Backlog -27% -21% -3% Geographical breakdown Domestic Backlog Residential 3% Work breakdown Industrial & other 18% Cash flow generation ( 100mn) despite declining Spanish sales International growth offsets Spanish performance International 79% Civil works International backlog 70% of total *PNI was excluded from Budimex s consolidation perimeter in November 2012, after filling for creditor protection. PNI impact: EBIT - 35mn 58 ir@ferrovial.es Tel:

59 HAH (Equity method, FERROVIAL stake 33.65%) 100% GBP million 2012 Revenues 2,646 +8% EBITDA 1, % EBITDA % 51.2% +125 bps NET DEBT 12,931 % L-f-L 143mn dividends from HAH HAH 100% 2012 dividend (GBP 240mn) Second consecutive year of record Heathrow traffic and passenger satisfaction Double digit EBITDA growth Traffic (PAX Mn) 2012 % Capital structure strengthened GBP3.0bn issued in 2012 Heathrow % Scotland % UK airports % Extending maturities, markets & currencies Successful divestments above expectations 100% HAH implied equity value GBP4,500mn Shareholders 33.65% 20.00% 13.29% 11.88% 10.0% 11.18% Stansted Edinburgh GBP1.5bn (x16.0 EV/EBITDA) GBP807mn (x16.7 EV/EBITDA) Ferrovial Qatar Brittania GIC CIC Alinda 59 ir@ferrovial.es Tel:

60 HEATHROW Financial improvement Financing transformed Resilient performance * Dec 2011 Dec 2012 EBITDA (GBP million) 1,103 Average life of debt 9.8 years 10.1 years 529 Debt due within 3 years 3.7 billion 1.8 billion * Heathrow airport, excluding Heathrow express Bond proportion of total debt Liquidity horizon *Including impact of Stansted disposal proceeds 77% 94% 20 months 30 months* Over 3 billion in bond issuance in billion undrawn revolving credit facilities HAH can meet capital investment, debt maturities, interest and distributions till mid ir@ferrovial.es Tel:

61 HAH Financing Structure 2008 Refinancing 2012 HAH Capital structure Toogle Facility 702Mn FGP Top Co ADIL Senior Loan Facility 600Mn FGP Top Co ADIL Des Sub-Holdco Sub-Holdco Security Parent Designated Airports NewCo BAA Ltd Subordinated Facility 1,566Mn Non Designated Holdco Non Designated Group Non-Designated Facilities Bank facility: 1,000m Capex & WC facility: 255m Security Group Facilities Existing Bonds: 4,499m Refinancing Facility: 4,400m Capex Facility: 2,700m Working Capital Facility: 50m EIB Facility: 435m Liquidity Facility: 600 Heathrow Airport Bank facilities: 712m Heathrow Finance Heathrow Airport Holding Subordinated Facility 728Mn Heathrow funding Bond facilities: 10,240m Non Designated Airports Non-Designated bank Financing: 406m 61

62 Diversified portfolio Ex Infrastructure Projects Infrastructure Projects Services Construction Toll Roads Airports Non Capital Intensive PROFIT GENERATION CASH GENERATION Capital Intensive LONG DURATION LONG TERM VALUE Fully consolidated Method 927Mn EBITDA FY 12 Proportional (1) 1,671Mn 29% 19% Services 37% 34% Toll Roads Construction Airports 33% 19% 29% 64% Spain 16% UK 12% US 8% RoW 34% Spain 42% UK 21% US 3% RoW (1) Proportional: All EBITDA figures are aggregated in a proportional basis to the Ferrovial equity stake in each company or project ir@ferrovial.es Tel:

63 Shareholder remuneration Dividend 2012 (Euros/share) Interim 1.00 Complementary 0.25 TOTAL Tel:

64 INVESTOR RELATIONS DEPARTMENT C/ Príncipe de Vergara, MADRID (Spain) Tlf: Fax: website: Tel: