2013 Highlights A Year of Consolidation and Compliance

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2 2013 Highlights A Year of Consolidation and Compliance AppointmentofMr.JosepPiquéasCEO Consolidation in Abertis as Industrial Partner and Reference Shareholder %stakeasat12/31/2013,withcurrentmarketvalueof 2.7bn Compliance with Financial Policies. At 2013 year end: Recourse Net Debt/ Recourse EBITDA below 3x Strong Recourse Liquidity position( 1.9 bn) Solid Construction activity with: EBITDA/Sales margin of 9.4% 8bnorderbook,and 3bnnewawards Satisfactory Results with EBITDA +15.4% Strengthening OHL Mexico through: Follow-onoffering(P$7bn),and Integral Refinancing of ConMex (P$ 17 bn) 63.64%stakeasat12/31/2013,withcurrentmarketvalueof 2.2bn 1

3 I. OHL s Position II Results III.Good Governance & CSR IV.ResolutionsProposal 2

4 OHL sposition A leading Global Platform benefiting from Global Opportunities 7in America Canada USA Mexico Colombia Peru Chile Honduras 11 in Europe Bosnia & Herzegovina Bulgaria Croatia Spain Slovenia Montenegro Poland Czech republic Slovak republic Romania Russia 6 in Asia Saudi Arabia Qatar Kuwait Turkey Kazakhstan Vietnam 1 in Africa Algeria 1 in Oceania Australia Region GDP 2014E CPI 2014E World 3.6% 3.5% Developed Economies 2.2% 1.5% USA 2.8% 1.4% Eurozone 1.2% 0.9% Emerging Economies 4.9% 5.5% Mexico 3.0% 4.0% Spain 0.9% 0.3% Balanced Geographical Exposure(26 countries accross 5 continents) 85% of theorderbookand 92% ofebitda fromabroad Source: IMF 3

5 OHL sposition Important cotizacion and Steady Growth Track Record In2012changeofscaleduetotheOHL sconcessionsinbrazilandchilecontributiontoabertis Sales( MM) EBITDA ( MM) CAGR : +6.9% CAGR : +18.5% Recurrent Net Profit ( MM) Orderbook( MM) CAGR : +18.4% CAGR : +19.1% 82,010 81, ,069 66,727 Long-Term , Short-Term ,784 38, , ,688 13,965 16, Solid and consistent growth driven by its two core businesses: Concessions and Construction 4

6 OHL s Position Successful crecimiento Strategy translated into market value growth (12/31/ /30/2014) Cumulative revaluation(12/31/ /30/2014): Generating Value for the Shareholder: Dividend Payout of 25% from the Recurrent Net Profit + Revaluation 100 investedin 12/31/02 turnsas of 04/30/14 in: 173 investedin theibex-35, 73 gain(5.0% annual) 218 investedin theaverageof theotherconstructioncompanies,118 gain(7.1% annual) investedin OHL, gain, 8.6x higherthantheaverageof theother construction companies(23.8% annual) 5

7 OHL s Position Concessions Direct Concessions OHL Concesiones financially independent from the rest of OHL Concessions financed in non-recourse basis and in local currency, with no currency risk Preference for majority holdings Demonstrated ability to succesfully develop new concessions and crystallize the value through IPOs, direct disposals of concessions, and asset swaps Attractive portfolio of direct concessions (1): 11 tollroads(820 Km), 3 ports, 1 railwayand1 airport Young portfolio(toll roads 24 years remaining average life) Interest in entering new geographies such as USA, Canada and Colombia 2013 Porfolio: MM Years Remaining(1) Spain 14% Chile 5% Peru 3% Mexico 78% Américo Vespucio Oriente Toluca Conmex Atizapán-Atlacomulco Puerto Valparaiso Poetas Urbana Norte Puerto.S.Cruz Tenerife Puebla Viaducto Bicentenario Metro Oeste Puerto Alicante Amozoc Perote Autopista del Norte Euroglosa M45 Autovía Aragón (1) Including new awards in 2014 (Autopista Américo Vespucio in Chile and Autopista Atizapán-Atlacomulco in Mexico) 6

8 OHL s Position Concessions Main Direct Concessions (Figures as of 12/31/13) Country Concession Status Km / Operated Infr. Mexico Spain Chile Peru ConMex Amozoc Perote Puebla Viaducto Bicentenario Poetas - Luis Cabrera Autopista Urbana Norte Atizapán-Atlacomulco Total Toll Roads Toluca Airport Euroglosa M45 Autovía Aragón Tramo 1 Total Toll Roads Metro Ligero Oeste Port of Alicante Portof Sta. Cruz de Tenerife Américo Vespucio Oriente Total Toll Roads Port of Valparaíso Autopista del Norte Total Toll Roads Operation Operation Construction Operation Operation Operation Awarded 2014 Operation Operation Operation Operation Operation Operation Awarded 2014 Oper/ Constr Commercial Serv km 2 lines 30 Ha. Dock 15,3 Ha. Dock Ha. Dock Operation % OHL Traffic Avg/ day(1) / Passengers year 64% 44% 64% 64% 32% 64% 64% 31% 100% 95% 51% 100% 65% 51% 100% n/a n/a / TEU TEU n/a n/a 100% Total Toll Roads Years Remaining (1) Equivalent paying vehicles(except in V. Bicentenario, A. Urbana Norte, Euroglosa 45 and A. Aragón which is used the Average Daily Intensity) 7

9 OHL s Position Construction Global Scope and focus on risk management 100+ years of experience, leading complex projects worldwide Competitiveadvantagesderivedfromtheappropiategeographicaldiversificationand specialisationin high technological value segments Markets with Permanent Presence Spain, Central &Eastern Europe, USA & Canada, Mexico, Peru and Chile Recurrence and more capillarity in projects Management through local subsidiaries Markets with Occasional Presence Middle East, North Africa and other Latin American countries Selective participation in singular and large projects Support from local partners(occasional basis) Common Management Criteria Focused on civil engineering and non-residential building Specialisation in high technological value segments: railways, hospitals and smart-design buildings Global management of the excellent human capital through the Centrallized Technical Office Preference for design& build projects Proyects with positive cash-flow since beginning of work and collections guaranteed Underpinned by the solid Balance Sheet of OHL Group and proven ability to structure financings 8

10 OHL s Position Construction Growth and Profitability Organic growth guaranteed on the back of the important orderbook worthing 36 months of sales Orderbook of major international contracts, most of them design & build projects 1 to 1.5 years design phase + 2 to 4 years execution period (will take some time in becoming fully visible across the P&L) Steady margins 3 bnnew awards in Orderbook: 8.059,7 MM Construction EBITDA/Sales Margin Spain 18% Others 12% Central & Eastern Europe 28% 7,2% 9,0% 7,8% 10,0% 9,2% 9,4% Middle East & N. Africa 19% USA & Canada 23%

11 OHL s Position Other Activities Developments Developing unique mixed-use and top-quality projects, operated by the most prestigious hotel chains worldwide Mayakoba: Touristic development in Riviera Maya (Mexico) positioned as one of the most exclusive resorts in the world. Comprising: 5 luxuryhotels(3 of whichare alreadyin operation) A golf course, El Camaleón, whichmadehistorybyhosting thefirstpga Tour event outside the USA Canalejas: LandmarkProject in Madrid, coveringsevenhistoricbuildingsin Madrid scitycentre, borderedbyalcalá, Sevilla, Plaza de Canalejas and Carrera de San Jerónimo. The project will clearly constitute one of Europe s major luxury destinations, comprising: First Four Seasons Hotel in Spain Residential area operated by Four Seasons An exclusive shopping centre, and A parking lot 10

12 OHL s Position Other Activities OHL Industrial and OHL Services OHL Industrial: Clearly international scope Design and construction of large turn-key industrial plants Present in among other: Oil&Gas Petrochemicals Power Solid handling Fire-fightingprotectionand Others OHL Services: Technical maintenance, cleaning, energy efficiency management and social and health care Through its Ingesan subsidiary, it is a leader in the Facilities Management sector 11

13 I. OHL s Position II Results III.Good Governance & CSR IV.ResolutionsProposal 12

14 Urbana Norte Concession. Mexico 13

15 Supervía Poetas Concession. Mexico 14

16 Autovía del Norte Concession. Peru 15

17 Terminal 2 - Port of Valparaíso Concession. Chile 16

18 Highway Interchange in Miami. USA. 17

19 Culver Line Viaduct. New York. USA. 18

20 Mecca-Medina High-Speed line. Saudi Arabia 19

21 Modernisation of the railway. Slovak republic 20

22 CHUM Hospital. Canada 21

23 Sidra Hospital. Doha. Qatar 22

24 Jamal Abdul Nasser Viaduct. Kuwait 23

25 Marmaray Rail Corridor. Turkey 24

26 Cantábrico Highway. Lindín-Careira. Spain 25

27 Canalejas Project. Madrid 26

28 Hydrocarbon Tank Terminal. Algeciras. Spain 27

29 Biomass Plant. Huelva. Spain 28

30 R & D Gripper SATOgrab. Free - flow toll system. Autopista Urbana Norte. Mexico. Cubipods Port of Langosteira. La Coruña. Cylindrical parabolic collectors. Thermosolar Plant.Arenales. Seville. 29

31 2013 Results Profit& LossAccount Key Figures ( MM) 2013 % 2012 % % Var. Sales 3, , % EBITDA 1, , % Recurrent Net Profit % Sales dropped an 8.6%, despite an increase in both Toll Revenues(1) by 8.7% and International Construction by 9.0% Increases in EBITDA and Recurrent Net Profit of 15.4% and 4.0%, respectively International activity continued to play a leading role within the Group as it accountsfor75%ofsalesand92%ofebitda (1) Toll Revenues unaffected by: (i) changes in the consolidation method and(ii) construction activity for concessions under the IFRIC 12 30

32 2013 Results Debt Structure Gross Debt( MM) 2013 % 2012 % % Var. Recourse 1, , % Non-recourse 5, , % Total 6, , % 86% of thegrossdebtislong-term 91% of thetotal RecourseDebtcorrespondsto Capital Marketsand onlya 9% is bank financing Net Debt( MM) 2013 % 2012 % % Var. Recourse % Non-recourse 4, , % Total 5, , % Recourse Net Debt/ Recourse EBITDA(1) = 2.8x (1) Recourse EBITDA 327 MM (calculated in accordance with the contractual terms) 31

33 2013 Results Debt and Leverage Performance Recourse Net Debt( MM) (1) 2012 (2) 2013 Recourse Net Debt/ Recourse EBITDA 2,5x 3,5x 3,0x 2,6x 2,8x (1) 2012 (2) 2013 Notes: (1) Pro-forma including disposal of Inima (2) Pro-forma including as RecourseDebt 400 MM dividend upstreamed fromohl Concessionsto OHL ParentCompany at theendof 2012, derived fromthefirstphaseof theabertis Transaction 32

34 2013 Results Comfortable Cómodo Perfil Recourse de Vencimientos Maturity con Profile Recurso 2013E Recourse Debt as at 12/31/13 ( MM) Available Liquidity as at 12/31/13 ( MM) Credit Lines& Others(drawn) Euro-Commercial Paper(outstanding amount) Syndicated Facility(undrawn) Bonds 2013 Credit Lines& Others(undrawn) Syndicated Facility(undrawn) Cash& Equivalents Strongand Stable 1.9 bnliquidityposition, ableto cover1.2x the Recourse Indebtedness 33

35 2013 Results Continuity of the Strategy CONCESSIONS CONSTRUCTION Other Activities OHL Concesiones financially and organically independent Debtin non-recourse basisand in thesamecurrency as therevenues Focused on civil engineering and singular building More capillarityin places withpermanentpresence suchas Central & Eastern Europe, USA and Canada, Mexico, Peru, Chile and Spain Singular works in countries such as Saudi Arabia, Turkey or Qatar Works in other countries with: Prudent criteria Positive Cash flow since beginning of work Collections guaranteed Industrial: Design and construction of turn-key industrial plants Services: Presence in the Facilities Management sector Developments: Development of singular top-quality projects FINANCIAL Financial discipline and prudency Commitment to recover Investment Grade status 34

36 I. OHL s Position II Results III.GoodGovernance& CSR IV.ResolutionsProposal 35

37 GoodGovernance& CSR Value Creation subject to Sustainability Commitment to Sustainable Development. Sustainability Report since 2004 and within the FTSE4Good Ibex since inception in 2008 Committed to compliance with all applicable regulations and recommendations on Good Governance Corporate Social Responsibility controlledbytheaudit, Compliance and CSR Committee Ongoingcommitmentto Training as a lever for development, especially in the Occupational Risks Prevention area Continued effort in Research, Development and Innovation. Great success in implementation of the results achieved OHL Constant updating of the Code of Ethics adopted in 2010 and operative Channel for Complaints Risk and Internal Control, and Internal Audit Departments reporting to the Audit, Compliance and CSR Committee Compliance Department reporting to the Secretary of the Board of Directors Enhancement of the Values of Transparency, Responsibility and Honesty within the Corporate Governance Model of the Group 36

38 GoodGovernance& CSR Good Governance Best Practices carried out in 2013 OHL has been recognized by the Spanish Market Regulator (CNMV) among the 5 of the Ibex 35 companies that fully follow the recommendations of the Unified Code of Good Governance Establishment of a Compliance Department to support business development within a defined level of integrity and compliance with internal rules and applicable laws for the entire Group: Improvement of the Organization and Management Model Monitorization of the performance and compliance of the Model and assessment of breaches Improving the Risk Management System of the Group: Update existing risk maps and Develop the Global Risk Management Policy 37

39 GoodGovernance& CSR CSR actions undertaken in 2013 The Sustainability Report done pursuant to international standard Global Reporting Initiative(GRI) in its highest application level, A+ Obtention of a score rated High in the Annual Report to the Carbon Disclosure Project, demonstrating commitment towards a low-carbon economy Creation of 3,974 net jobs representing a growth of 20.0% over the previous year(+18.2% in Spain and +21.1% abroad) 10.1% Reduction in the Incidence Rate of workplace accidents at the Group level 458,025 hours of training in the Group. About 8,000 employees have joined courses on Group Code of Ethics and Human Rights taught in English, Spanish, Czech and French Among the 1,000 European companies that invest more in R&D, according to the EU Industrial R&D Investment Scoreboard

40 I. OHL s Position II Results III.Good Governance & CSR IV.ResolutionsProposal 39

41 ResolutionsProposal First Second Third Fourth Fifth Approve the Annual Accounts and the Management Report, corresponding to the financial year ended 2013, for both Obrascón Huarte Lain, S.A. and the Consolidated Group Approve the proposal for distribution of the profits earned in the financial year 2013 Approve the Board of Directors management of the Company during the financial year 2013 Re-appoint the external auditors of the Company and its Consolidated Group for a period of one year Appointment of a Director of the Company Sixth Re-elect a Director of the Company 40

42 ResolutionsProposal Seventh Eighth EmpowertheCompany, in accordancewiththearticle146 of thecapital Companies Act, to acquire the Company s own shares, either directly or by an affiliated company Delegate to the Company Board of Directors as provided for under article 297 of thespanishcompaniesactwithpowersto increasecapital of the Company once or several times Ninth Delegate to the Board of Directors, with power of substitution, to issue convertible or non-convertible fixed-income securities, with a limited maximum amount under the conditions set in the Directors Report, with express attribution to exclude the preferential subscription rights of shareholders and leaving the existing delegation agreement void Tenth Acknowledge the use by the Board of Directors of the power delegated by the General Meeting of Shareholders, to issue simple non-convertible debentures or bonds 41

43 ResolutionsProposal Eleventh Annual Report on remuneration of directors for the year 2013 Twelfth Delegation of powers Thirteenth Approve the Minutes of the Ordinary General Meeting of Shareholders 42