SACYR REPORTS EBITDA OF 318 MILLION (+33%) AND ITS TURNOVER INCREASES BY 8.5%

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1 PRESS RELEASE The group achieves net profits of 370 million SACYR REPORTS EBITDA OF 318 MILLION (+33%) AND ITS TURNOVER INCREASES BY 8.5% International construction revenue represents 75% of the total, while the Group steps up its concession profile The corporate debt falls by 88% Madrid, February 26, The Sacyr group reported a 33% increase in 2015 EBITDA to 318 million, with all group divisions contributing. The net profit in the year amounted to 370 million euros, as opposed to the 33 million registered in The gross margin improved considerably, from 8.8% to 10.8%. The turnover grew by 8.5% to 2,949 million thanks to the strong drive of international activity, which grew by 7.3% in the period. Thus, 54% of the turnover came from international projects. Growth abroad was particularly strong in the Construction division, with a foreign turnover growing by 19%, and accounting for 75% of the total. The revenue backlog rose by 8.1% from December 2014 to 26,845 million, comprising mostly recurring business: Sacyr Concesiones accounts for 50% of the total and Valoriza 20%, along with a high backlog of works in excess of 5,062 million. International activity accounts for 54% of the total backlog as opposed to 46% one year ago. In construction, it represents 85% as a result of the tenders outside Spain, while in concessions it amounts to 60%, in services 31% and in industrial 14% of the backlog. 1

2 At 31 December, the group's net financial debt was 4,180 million (-34%): 66 million were corporate debt, falling by 88% since December 2014, 2,042 million are related to the company activities (93% very long term financing and leasing and 93% concessional projects) and 1,613 million being the credit for the 8.48% participation in Repsol. On June 8, 2015, Sacyr signed an agreement to sell Testa for 1,794 million (i.e. premium to NAV of 17%), enabling it to reduce debt by 3,500 million. The year's results include -105 million Euros corresponding to Sacyr's percentage of the - 1,227 billion Euros of Repsol's net profit at 31 December 2015, and -373 million Euros of the value adjustment to adapt the value of the participation to the value drawn from the deterioration test ( 15.6/share). In addition to the capital gains on the sale of Testa for 1,280 million, mainly -180 million Euros for the reduction of the tax credit associated with Testa and -130 million Euros for provisions to working capital and financial following the principle of caution. BUSINESS PERFORMANCE Construction (Sacyr Construcción).- The revenue in the area was 1,666 million thanks to the strong international activity which grew by 19%, the turnover of which already accounts for 75% (as opposed to 73% one year ago), against the slowdown in Spain and in Somague. EBITDA contracted more to 78 million owing to the slowdown in certain projects in Angola and Brazil. The works backlog grew slightly from December 2014 to 5,062 million and reflects the correct strategy of international contracting, which accounts for 83% of the total backlog. The international backlog grew in the last year thanks to important adjudications such as the urban development works of the QEZ-1 (Qatar Economic Zone 1) in Ras Bufontas (Qatar) for 410 million, the construction of Pumarejo Bridge in Colombia for 223 million and the second phase of the Ulster University campus project in Belfast for 190 million. The company also won contracts in Mexico and Chile, among others. In addition to the large projects won by Sacyr Concesiones in Colombia with a backlog of 613 million and in Uruguay with 68 million. 2

3 In Spain, wins included the AVE high speed platform between Pulpí and Cuevas de Almanzora for 33 million, the contract to reform and enlarge the Hospital del Mar hospital in Barcelona for 17 million, a 16 million urban work project in Murcia and the 7 million contract to expand the MSC terminal at Valencia port. Infrastructures concessions (Sacyr Concesiones).- Total turnover amounted in 2014 to million (+34%), due mainly to the evolution of the business, the change in the consolidation method used with 8 assets, the increased traffic in Spain, the advanced degree of the concessions in Chile, the startup of operations in Rutas del Desierto (Chile) and the revenue contributed by the concession of Longitudinal de la Sierra (Perú), Corredor 5 and Pasto-Rumichaca (Colombia). EBITDA was million (137% more than a year before), without consolidation impact of the 8 concessions, the EBITDA increase would also have been significant (+38%); the EBITDA margin remains steady at 66.4%. Sacyr Concesiones have concession revenues in the period that amounted to million, up 51% more than 2014 (excluding the impact of the change in consolidation scope). The activity backlog grew by 19.5% from December to 13,339 million, with 60% international future revenue, against 46% a year before. Sacyr Concesiones entered two new markets: Colombia and Uruguay. Between May and July in Colombia in won three concession projects of the Fourth Generation of New Motorways program: the upgrade, improvement and operation of the 202km-long Corridor 5 between Puerta de Hierro-Cruz del Viso, with an investment of roughly 256 million; the construction, in a consortium, of the 176 km motorway to Mar 1 with estimated investment of 930 million; and the construction and concession to run the Pasto-Rumichaca motorway, entailing an investment of approx. 1,023 million. And in Uruguay it was adjudicated the construction, rehabilitation and management of the 179 km Corredor Vial between the cities of Nueva Palmira and Mercedes, with an expected investment of 150 million. These projects secure the presence of Sacyr Concesiones in Latin America, already with 12 assets in the area, and accentuates the group's concession profile. Sacyr also reached 3

4 seventh position on the ranking of transport infrastructure concession managers in the world of the Public Works Financing (PWF) publication, from the 11th place it held one year earlier. This considerable improvement is thanks to Sacyr Concesiones' important adjudications in recent months. Sacyr Concesiones has also brought the first 100 km section of the motorway between La Serena and Vallenar into service, and the whole of the 78.4 km motorway from Accesos to Iquique, both in Chile. Industrial (Sacyr Industrial).- Sacyr Industrial delivered a 50% year-on-year increase revenue to 290 million, while EBITDA amounted to 21 million (+119%), leaving an EBITDA margin of 7.3%. The backlog also increased to 2,413 million, with a 40% increase in international orders. The main contract wins were the operation and maintenance for Edemet in Panama for 20 million, the adaptation to new fuel specifications in La Pampilla in Peru for 156 million and substation and transmission line work in Mexico for 12 million. On 30 September Sacyr Fluor was incorporated, held 50% by Sacyr and by Fluor SA (the Spanish subsidiary of the multinational Fluor Corporation), after Sacyr bought 50% of Fluor SA for 41 million. The new company will give engineering and EPC project management services in oil and gas and onshore petrochemical industry in Spain, the South of Europe, North Africa and certain Latin American countries. The industrial subsidiary has also constituted a joint company with Nervión Industries, called Sacyr Nervión, to maintain Oil&Gas and comprehensive repair industrial works anywhere in the world, and reached an agreement with Isotrón to bid jointly in EPC electrical generation and transmission tenders. Services (Valoriza).- Revenue at Valoriza amounted to 763 million (+4.2%), led by increases in the Environment (+5.2%) and Multiservices (+6.8%) businesses. EBITDA reached 70.3 million (+12.7%). The breakdown of revenue by area was: Environment, million; Multiservices, million; and Water, million. The EBITDA margin is 9.2%. 4

5 Valoriza's revenue backlog stands at over 6,031 million, of which 31% involves international projects. The year particularly shows the adjudication to Valoriza Conservación de Infraestructuras of the road maintenance for the Tudela and Tafalla centres (Navarre) for 14 million. Valoriza Facilities won cleaning contracts for the El Prat and Adolfo Suárez Madrid-Barajas airports for more than 57 million as well as several cleaning contracts for over 20 million. Street cleaning and waste collection contract in Guadalajara for 71 million and other similar contracts worth 30 million for Valoriza Servicios Medioambientales; a 9 million waste treatment contract in Formentera and a 9 million network and water connection maintenance contract for the Madrid area and management of the water network in Ablaneda (Asturias) for 5 million for Valoriza Agua. Meanwhile, Valoriza Minería secured mining rights and permits to commence test drilling at the San Finx (A Coruña) tungsten and tin mine. Sacyr Communication Tels.: / comunicacion@sacyr.com Follow us on 5