________ CORPORATE PRESENTATION SEPTEMBER 2020 _______ INDEX 1. - - PowerPoint PPT Presentation

________ CORPORATE PRESENTATION SEPTEMBER 2020 _______

• 1. Overview of Graña y Montero
• 2. Group Strategy
• 3. Financial Results
• 4. Backlog and Commercial Opportunities
• 5. Corporate Governance
• 6. Legal Situation
• 7. Appendix

INDEX

3

• 1. Overview of Graña y Montero

 Largest Engineering & Construction company in Peru measured by revenues  More than 86 years of recognized operational excellence and significant international experience  Revenues of US$ 1,232 MM and EBITDA of US$ 193 MM as of 2019  Backlog and recurrent business of US$ 1,841 MM as of 2Q2020– 1.64x revenues  2,119 engineers and over 16,000 employees as

• f 2Q2020

 Only Engineering and Construction company in Latin America listed in NYSE (since July 2013) Shareholders – July 2020

24.20% 19.14% 10% 9.94% 4.40% 32.33% Pension Funds Original Family Pacifico Corp S.A. Megeve Aberdeen Others ADSs represent 22.89% of the total share capital

4

OUR BUSINESS SEGMENTS

ROADS TRANSPORTATION ENERGY WATER REAL ESTATE DEVELOPMENT

5

13 42 12 15

• 1

19 18 1

• 20

20 40 60 80 100

2016 2017 2018 2019 2Q 2020 EBITDA from Operation EBITDA from Sold Assets

New contracts 2019 & 2020:

• Quellaveco (US$ 318 million y US$ 43 million)
• Quebrada Blanca - Chile (US$ 250 million)
• MAPA – Arauco Chile (US$ 112 million)
• GMI – Golds Fields (US$ 73 million)
• GyM – LAP (US$ 110 million)

ENGINEERING & CONSTRUCTION

Maincompanies:

• GyM:

Construction company, founded in 1933, comprised

• f

three divisions: electromechanic construction, civil construction and building construction.

• GMI: Engineering consulting firm since 1984 consisting in two different divisions: Supervision

& Engineering and Geomatics.

• Vial y Vives- DSD: E&C company formed from a merger between two Chilean companies,

Vial y Vives and DSD Construcciones y Montajes.

• Morelco: Colombian

company acquired in 2014, specialized in electromechanical assemblies, civil works, and services for the oil and gas industry as well as energy industry.

Revenues & EBITDA (MM US$)

• On Jan17, we sold our 8.7% participation in Red Eagle and
• n Apr18, we sold our 87.59% interest in Stracon GyM.

874 718 580 843 272

364 315

1.4% 5.8% 2.0% 1.8%

• 0.5%
• 2.0%

3.0% 8.0% 13.0%

• 200

300 800 1,300

2016 2017 2018 2019 2Q 2020 Revenues from Sold Assets Revenues from Operation EBITDA Margin from operation

6

INFRASTRUCTURE

Revenues & EBITDA (MM US$)

Maincompanies:

• Transportation

Ferrovías: Concessionaire of Line 1 of the Lima Metro

• Energy

GMP: Oil production (Blocks I, III, IV, V), Gas Processing Plant and operation of ten fuel terminals in Peru

• Roads

Norvial: Concessionaire of Red Vial 5 Highway Survial: Concessionaire of Nazca Cuzco Highway Canchaque: Concessionaire of the Bs As-Canchaque Highway

• Water

La Chira: Concessionaire for the construction, operation and maintenance of a waste water treatment plant forLima

• Operation & Maintenance of Infrastructure Assets

Concar: It operates Peruvian roads and highways, including three private concessions, in addition to the Lima Metro

304 371 437 423 153 46 75 121 55 28.6% 29.9% 28.5% 30.6% 31.6%

0.0% 20.0% 40.0% 60.0% 200 400 600

2016 2017 2018 2,019 2Q 2020 Revenues from Operation Revenues from Construction EBITDA Margin from operation 87 111 125 130 48 2 3 16 12 2016 2017 2018 2019 2Q 2020 EBITDA from Operation EBITDA from Construction

7

122 149 94 80 9 50 93 40.5% 24.3% 14.5% 25.6% 20.8%

• 20.

0.0% 20.0% 40.0% 60.0%

• 50

100 150 200 250

2016 2017 2018 2019 2Q 2020 Revenues from Operation Revenues from Sold Assets EBITDA Margin from operation

REAL ESTATE

2016 2017 2018 2019 2Q 2020 Unitsdelivered 938 1,418 1,278 1,452 151 Unitssold 1,720 1,604 1,920 1,934 272

Revenues & EBITDA (MM US$)

Viva: Real estate development company Affordable Housing Projects under execution: Parque Comas, Parque de Huancayo, Parque Piura

• On Feb17 we sold our 50% stake in Cuartel San Martín project and 22.5% stake in
• Prinsur. On May18 we sold 420 ha of Almonte lands.

50 36 14 20 2 56 68 2016 2017 2018 2019 2Q 2020 EBITDA from Operation EBITDA from Sold Assets

8

• 2. Group Strategy

Mar 2020 Apr 2020 Dec 2020 Dec 2021

Phase 1 Phase 2 Phase 3 Stabilization (reactive) Survival and Transformation Relaunch

COVID -19 PLAN

10

11

PHASE 2: SURVIVAL AND TRANSFORMATION (May 20- Dec 20)

Minimize the impact on companies results on 2020

• E&C: Reduce costs, catch up w/claims and

additional works pending approval. Discuss terms to relaunch projects.

• Infrastructure: Continue operations w/

restrictions, but dealing w/ lower oil price, reduction in traffic and fuel consumption and law that suspended toll collection. Implementation

• f

cost reduction program.

• Real Estate: No deliveries of housing units

in 2Q20, but keep selling future units through virtual sales. Cost reductions implemented.

• Holding:

Reorganization and cost reduction plan. New structure announced in June 2020.

• With the exception of one E&C project, all

projects are in execution implementing new standards. In most of the cases new contractual terms agreed w/clients.

2Q2020 Status of the Plan :

Buy time to face upcoming financial and non-financial deadlines

• Implementation of severe discipline to

control cash and secure liquidity in all projects.

• Refinancing efforts with financial and

non-financial suppliers to extend the terms of all non-operating debts.

• Elaboration of a financial plan that

contemplates scenarios on the timing of the signature, whether it is during 2020

• r later – in search of a bridge financing.
• As

alternate

• r

complement, divestment of assets to secure liquidity to avoid a potential distress situation.

Retain and assure critical resources and talent

• Identify and retain talent and define our

succession and contingency plans.

• Loss of 14 members of our team

because

• f

the pandemic. 15%

• f

company population confirmed to have

• r had COVID-19.
• Taking

necessary precautions and implementing safety protocols in all our projects to prevent the expansion of the situation.

• The

company secured medical and economical support for the workers in the event of infection.

12

PHASE 2: SURVIVAL AND TRANSFORMATION (May 20- Dec 20)

Forecast 2020:

Revenues close to US$ 1 billion EBITDA close to US$ 115 million Net loss close to 13 million Financial debt close to US$ 460 million Assumptions

• E&C only executing current backlog with all additional costs
• Oil price at US$ 36 per barrel for the rest of the year 2020
• Traffic for road concessions estimate improve vs 1Q2020 estimate
• 65% of the original budgeted Real Estate units delivered in 2020

Opportunities to improve Forecast

• New E&C contracts for 2020
• Additional trips for Line 1 due to social distancing
• Recovery in oil prices
• Increase in storage occupation in Terminales del Peru

Critical Milestones for 3Q2020:

• Secure a bridge loan of aprox. US$ 45 MM to face potential scenarios

until the plea agreement is reached

• Conclude negotiations to lock amounts and terms of payment to be

included in the plea agreement

• Incorporate at least US$ 75MM into E&C backlog
• Define new mandatory investment plan for Blocks III and IV
• Conclude

understanding regarding VESUR concession with Lima Municipality

PHASE 2: SURVIVAL AND TRANSFORMATION (May 20- Dec 20)

13

PHASE 3: RELAUNCH 2021

Definition of the renewed company purpose and of each

• f the three business

units Provide a soul to our new strategic plan Relaunch company identity before 2021 Values of Truth, Transparency and Integrity guiding our actions, with renewed purpose and aspiration

14

15

• 3. Financial Results

160 171 147 202 47

• 157

129 68

• 8
• 3

2016 2017 2018 2019 2Q2020 EBITDA from Operation EBITDA from Sold Assets & GSP

• 152

46

• 25
• 265
• 20

2016 2017 2018 2019 2Q2020

FINANCIAL RESULTS

(US$ MM)

Revenues Net Income EBITDA EBITDA Margin

(1) 2016 Revenues reflect US$ 290 MM from GSP project. (2) 2016 EBITDA reflect impairment from GSP investment.

1,228 1,052 981 1,232 385 614 822 173 2016 2017 2018 2019 2Q2020 Revenues from Operation Revenues from Sold Assets

• 8.2%

2.4%

• 2.1%
• 21.6%
• 5.1%

5.3% 8.4% 17.3% 10.8% 6.9% 0.2% 16.0% 18.7% 15.7% 11.5% 2016 2017 2018 2019 2Q2020 Net Margin Gross Margin EBITDA Margin

16

FINANCIAL RESULTS 2Q 2020

EBITDA (US$ MM) REVENUES (US$ MM)

9 385 2 44 272

• 1
• 0.5%

153 48 31.6% 26.8% 11.5%

EBITDA Margin (%)

17

Engineering & Construction 13% Infraestructure 62% Real Estate 7% Norvial dividend monetization 9% Holding 9%

FINANCIAL STRUCTURE

Debt by Currency – 2Q2020 Debt by Business Area – 2Q2020

DEBT (US$ thousands) 2016 2017 2018 2019 2Q2020 Working Capital + Leasing

382,677 328,079 118,808 99,143 98,628

Project Finance

336,389 337,763 416,063 361,902 338,399

Financing associated to GSP

277,415 146,988 98,368

• CS Peru Infrastructure Holdings
• 34,023

28,164

Total financial debt

996,481 812,830 633,239 495,068 465,191

CHUBB Debt

52,500 15,640

• Leasings (IFRS 16)
• 24,183

20,599

Total

1,048,981 828,470 633,239 519,251 485,790

Soles 69% US Dollars 28% Chilean peso 3%

18

FINANCIAL STRUCTURE

Engineering & Construction 59% Infraestructure 39% Real Estate 2% Performance Bond 83% Advance Payment 11% Finished Works - Performance Bond 4% Others 2%

Surety Bonds by Business Area – 2Q2020 Surety Bonds by Type – 2Q2020 Surety Bonds: Consolidated surety bonds at the end of 2Q2020 amount to US$ 431.0 MM (S/ 1,526 MM).

19

• 4. Backlog & Commercial Opportunities

EPC 13% Unit Prices 80% Lump SUM 8% Engineering & Construction 44% Infrastructure 53% Real Estate 3%

BACKLOG

(US$ MM)

By segments By type of contract (Only E&C) Total Backlog + Recurrent Businesses

These figures do not reflect the financial information of Adexus as an assets held for sale. 1,841 1,678 1,244 1,257 1,396 1,318 693

585 761 697 523 1.93 1.48 1.75 1.70 1.64

1.00 1.50 2.00 2.50 3.00 500 1,000 1,500 2,000 2,500 2016 2017 2018 2019 2Q20 Recurrent Businesses Backlog Backlog + Recurrent Businesses/ Revenues Ratio 2,370 1,829 2,019 2,094

21

BACKLOG

(2 Q 2 0 1 9 vs 2 Q 2 0 2 0)

By type of client By country By end-market

Mining Projects 32% Oil and Gas 39% Real Estate 5% Transport 23% Private 56% Public 1% Concessions 43% Peru 82% Chile 16% Colombia 2% Mining Projects 35% Oil and Gas 31% Water and Sewage 0.2% Real Estate 5% Transport 27% Others 1% Private 52% Public 1% Concessions 47% Peru 83% Chile 14% Colombia 3%

22

STRENGTHENING STRATEGY

Awarded Projects vs. Pipeline E&C

Awarded Projects Submitted Proposals Proposals in Preparation Commercial Tracking 4 3 2 1

US$ 560 mm US$ 524 mm

23

Mining Water Energy Oil and Gas Mining Energy Oil and Gas Buildings Mining Water Energy Oil and Gas Buildings Industry Infrastructure

24

• 5. Corporate Governance

Focus on

• n

Risk isks Focus on Eth thic ics, Valu lues & Compli liance Focus on

• n

Co Corp rporate Governance

2017 2017 2018 2018 2019 2019 2020 2020

Now focus on

• n

Monit itorin ing, , Reportin ing and Regula latio ion

25

Pedro P. Errázuriz

Director (Independent)

Rafael Venegas

Director (Independent)

Roberto Abusada

Director

Alfonso de Orbegoso

Director (Independent)

Manuel del Río

Director (Independent)

Ernesto Balarezo

President (Independent)

Christian Laub

Vicepresident

Esteban Viton

Director

BOARD MEMBERS

26

REINFORCEMENT OF CORPORATE GOVERNANCE

Board of Directors

Strategy and Investment Committee

• 1. Christian Laub (P)
• 2. Ernesto Balarezo
• 3. Esteban Viton
• 4. Rafael Venegas

Risk and Compliance Committee

• 1. Alfonso de Orbegoso (P)
• 2. Manuel del Rio
• 3. Christian Laub
• 4. Ernesto Balarezo

Talent Committee

• 1. Rafael Venegas (P)
• 2. Ernesto Balarezo
• 3. Pedro Pablo Errazuriz
• 4. Esteban Viton

Audit and Processes Committee

• 1. Manuel Del Rio (P)
• 2. Pedro Pablo Errazuriz
• 3. Alfonso de Orbegoso
• 4. Esteban Viton

Engineering & Construction Infrastructure Real Estate O p e r a t i o n a l C o m m i t t e e s

1. Christian Laub (P) 2. Alfonso de Orbegoso 3. Pedro Pablo Errazuriz 1. Rafael Venegas (P) 2. Manuel del Rio 3. Pedro Pablo Errazuriz 1. Ernesto Balarezo (P) 2. Roberto Abusada 3. Esteban Viton

27

• Customer Compliance
• Business Orientation
• Project Size
• Capacity and Experience
• Partner Compliance
• Critical Suppliers
• Balanced Portfolio
• Technical Feasibility
• Engineering Risks
• Ability to execute
• Meet the deadline
• Capacity, Solvency and Experience of

Suppliers

• Environmental/Security Risks
• Performance Risk
• Profitability (Minimum Margin)
• Cash Flow
• Use of Credit Lines
• Financial Structure
• Exchange Risk
• Penalties
• Limits of Responsibility
• Risk Analysis
• Legal Analysis
• Employee Subrogation
• Insurance Study

Aspects to evaluate in new projects

Comercial 1 Financial 4 Technical 2 Contractual 3

BUSINESS DEVELOPMENT COMMITTEE (E&C)

Decision-Making Process Based on Comprehensive Risk Analysis

28

29

• 6. Legal Situation

LEGAL SITUATION

Class Action Plea Agreement

• The lawsuit against Graña y Montero in the US related to

securities fraud, consolidated in a single lawsuit, with Robbins Geller Rudman & Dowd law firm appointed as legal counsel for the plaintiffs

• On February 12, 2020, the company entered into a

Settlement Term Sheet with plaintiffs counsel in which the parties agree to pursue the termination of the Class Action by negotiating, entering into and submitting a final agreement on April 27, 2020. Such settlement was preliminary approved.

• The amount of the Settlement is US$ 20 MM: US$ 15 MM

provisioned by the company in the 2019 FFSS and US$ 5 MM to be covered by a professional liability policy. On December 27, 2019, the Group signed a Mutual Memorandum of Understanding with the Peruvian Public Ministry for the completion of a plea agreement for the Construction Club and Lava Jato cases. At the date of signing the Fiscal Act, both cases presented the following legal situation:

• “Club de la Construcción”: Incorporation of GyM as

responsible third party and the Judge will decide on its incorporation as a legal entity in the investigation

• Lava Jato:
• IIRSA Sur (T2 y T3): Incorporation of G&M and GyM as

responsible third parties.

• Construction of Section 1 and 2 of the Electric Train:

Incorporation of GyM as responsible third party.

• Southern Gas Pipeline

30

LEGAL SITUATION

Law N° 30737: Category 2

Companies included in the scope of the law:

• Graña y Montero S.A.A., due to its participation in

IIRSA road concession T2 and T3; and

• GyM S.A. due to its participation in the electric train

construction sections 1 and 2 and La Quinua road. Obligations according to the Law:

• Implementation and external audit of a compliance

program

• Continue cooperating with the Public Prosecutor’s
• ffice
• Suspension of transfers of funds abroad unless

expressly authorized by the Ministry of Justice

• Establishment of a trust to be transferred as a

guarantee of potential obligations with the State (in process), 57.7% equity stake in GMI (engineering business unit), which value corresponds to ~US$ 28 mm Total amount of estimated Civil Damages according to Law N° 30737: US$ 84.4 MM

31

• 7. Appendix

FINANCIAL RESULTS 2019

EBITDA (US$ MM) REVENUES (US$ MM)

80 1,232 20 193 843 15 1.8% 478 142 29.6% 25.6% 15.7%

EBITDA Margin (%)

These figures do not reflect the financial information of the discontinued operations GMD, Stracon GyM, CAM and the assets held for sale Adexus.

33

FINANCIAL RESULTS 2019

B reakd o wn o f I nf rastru c tu re

EBITDA (US$ MM) REVENUES (US$ MM) EBITDA Margin (%)

33 4 11 100 20 40

98 29 120 50 41.5% 29.2% 93 9 9.4%

E&P Natural Gas Distribution

32.7% ROADS TRANSPORTATION ENERGY CONCAR 1 4.4% WATER

G&M holds a 50.0% equity stake in the Distribution business segment Energy consolidated EBITDA Margin considers all GMP segments Infrastructure business segment related to oil prices

34

FINANCIAL RESULTS 2Q 2020

B reakd o wn o f I nf rastru c tu re

EBITDA (US$ MM) REVENUES (US$ MM) EBITDA Margin (%)

7 3 3 30 8 11

22 9 47 21 44.7% 39.6% 36 1 4.4%

E&P Natural Gas Distribution

33.5% ROADS TRANSPORTATION ENERGY CONCAR

• WATER

G&M holds a 50.0% equity stake in the Distribution business segment Energy consolidated EBITDA Margin considers all GMP segments Infrastructure business segment related to oil prices

35

Status of the Projects

1

Norvial: Concessionaire of Red Vial 5 (2nd carriageway)

• From May 10, 2020 until June 30, 2020, the toll collection right was temporarily suspended.
• Transit and operational obligations are maintained.

3

GMP: Oil production, gas processing plant and fuel storage and delivery

• Estimated CAPEX 2020 : US$ 19 MM. E&P investment postponed for 2021.
• Block IV: 4th year of drilling campaign – 18 wells from a total of 33 wells were executed.
• For 2020 the company adapted to operate with oil at US$ 25 covering costs (without CAPEX).

2

Ferrovias: Concessionaire of Line 1 Metro of Lima

• Expansion works finished: 20 new trains and 39 new cars in operation.
• Implementation of COVID19 protocols and security measures.
• Fulfilment of service plan requested by the grantor.

36

19

hydroelectric plants

+50

mining projects

Why Graña y Montero? The Best Track Record in Engineering & Construction in Peru

21

concentrator plants

21

transmission lines

17

thermal power stations

+100

Km of tunnels, ramps and galleries

8

dams

+1,500

km of gas and

• il pipelines

16

hotels

2

cities

37

Taking Advantage of our Regional Expertise and Technical Capacity

1

Technical Expertise and Reliability

• 85 years participating in the main engineering works and in the most

important sectors of the economy

• 98% of projects delivered before due date

2

Long-term Relationships with Clients and Significant Access to Opportunities

• Outstanding performance in E&C brings loyalty from clients and

potential future business

• Great skill to win recurring contracts

3

Capacity to Attract the Best Talent

• 2,408 highly trained engineers
• Talent development, long term career plan and important

benefits

4

High Operating Standards and Corporate Governance

• Operations meet the highest international standards
• Culture of integrity strengthened throughout the Company, with

committees led by highly reputable independent members

P e r m a n e n t O p e r a t i o n s i n C o l o m b i a , C h i l e & P e r ú E x p e r i e n c e i n 1 2 c o u n t r i e s

38

RESULTS BY BUSINESS 2 Q 2020 (US$ in thousands)

Revenues 227,018 44,997 50,505 15,962 4,350 32,585 1,479 47,346 475 9,121 GROSS PROFIT 6,263 2,152 6,535 2,422 (3) 1,663 422 14,379 120 1,856 Administrative expenses (14,318) (1,812) (2,267) (661) (312) (1,222) (204) (1,912) (59) (3,080) Other income and expenses, net 861 (11) (210) (2) 8

• 20
• 118

Profit (losses) from sale of investments

• OPERATIONAL INCOME

(7,194) 329 4,059 1,759 (315) 449 218 12,487 61 (1,106) Financial (expense) income, net (5,433) 69 (1,863) (4,189) (234) (253) (32) (720) 57 (1,457) Participation in Associates 38

• 300
• (1)

Exchange rate difference (2,265) (863) (1,105) 24 226 (39) 77 478 1 666 PROFIT BEFORE INCOME TAX (14,853) (465) 1,390 (2,406) (323) 156 263 12,245 119 (1,898) Income tax 478 (245) (244) 390 84 (85) (77) (3,744) (71) 399 Profit from discontinued operations

• Non-controlling interest

1,105 81 (409) 665

• (2,125)
• 1,129

NET INCOME (13,271) (629) 737 (1,351) (239) 71 187 6,376 49 (371) EBITDA (2,500) 1,152 16,920 8,706 (294) 1,424 226 12,531 67 (138) ADJUSTED EBITDA 21,184 2,443 Income Statement (Thousands of US$) GYM GMI GMP NORVIAL SURVIAL CONCAR CANCHAQUE GYM FERROVIAS LA CHIRA VIVA GyM Engineering & Construction Infrastructure Real Estate

39

BACKLOG 2Q 2020

(US$ in th ou s an d s )

TOTAL 1Q - 2020 2Q -2020 2020 2021 2022+ GyM 503,101 147,259 108,040 39,715 68,325 463,883 212,670 251,213 VIAL Y VIVES-DSD 284,335 59,482

• 27,532
• 28,664

1,132 256,803 79,585 177,218 MORELCO 91,226 19,917

• 12,281
• 12,039
• 242

59,028 21,450 29,451 8,127 GMI 31,444 22,700 79,635 79,027 608 88,378 16,100 32,960 39,318 ENGINEERING & CONSTRUCTION 910,106 249,359 147,862 78,039 69,823 868,091 329,805 490,841 47,445 SURVIAL 36,322 4,350 3,136

• 146

3,282 35,108 14,067 8,277 12,764 CANCHAQUE 7,933 1,479 1,442 1,196 246 7,896 1,313 2,624 3,960 LA CHIRA 3,306 475 403 166 236 3,233 496 1,068 1,669 GYM FERROVIAS 307,559 39,718 20,193 3,081 17,112 288,034 48,815 95,687 143,531 CONCAR 198,786 30,579 16,121 6,046 10,075 184,327 38,969 56,621 88,737 INFRASTRUCTURE 553,906 76,601 41,295 10,343 30,952 518,599 103,660 164,277 250,662 VIVA GYM 63,278 9,121 8,152 1,046 7,106 62,308 39,140 23,168 REAL ESTATE 63,278 9,121 8,152 1,046 7,106 62,308 39,140 23,168 Eliminations

• 130,853
• 10,276
• 10,594
• 5,759
• 4,835
• 131,171
• 30,269
• 40,228
• 60,674

TOTAL 1,396,437 324,805 186,714 83,668 103,046 1,317,828 442,337 638,058 237,433 Recurrent Businesses TOTAL 1Q - 2020 2Q -2020 2020 2021 2022+ GMP 584,486 50,561

• 121,716
• 209,576

87,860 412,209 49,075 132,839 230,295 NORVIAL 143,749 12,246 7,678

• 8,665

16,343 139,181 20,430 45,710 73,041 Eliminations

• 31,133
• 37,710
• 35,027
• 24,840
• 10,187
• 28,450
• 3,016
• 10,174
• 15,260

TOTAL 697,102 25,097

• 149,065
• 243,081

94,016 522,940 66,489 168,375 288,076 TOTAL 2,093,538 349,902 37,649

• 159,412

197,062 1,840,768 508,826 806,433 525,509 Backlog + Recurrent Businesses/ Revenues (12 months) 1.64 Annual Backlog Company Initial Executed Backlog New Requests Total Annual Company Initial Backlog Executed Backlog New Requests Backlog Total

40

WORKFORCE

Workforce 2016 2017 2018 2019 2Q2020 Employees 5,797 5,835 5,851 4,080 5,040 Manual Laborers (1) 5,644 7,536 4,279 9,949 10,603 Joint Operations Employees (2) 1,487 1,399 1,761 1,135 702 Subcontracted (3) 3,356 4,103 2,506 3,336 2,599 Total 16,284 18,873 14,397 18,500 18,944 These figures do not reflect information of the discontinued operations GMD, Stracon GyM, CAM and the assets held for sale Adexus. (1)The number of manual laborers, who form part of our network varies in relation to the number and size of projects we have in process at any particular time. (2)Includes engineers, professionals, technical specialists and manual laborers employed by our joint operations. (3)Occasionally, we employ subcontractors for particular aspects of our projects, such as carpenters, specialists in elevator installation and specialists in

• glassworks. We are not dependent upon any particular subcontractor or group of subcontractors.

2016 2017 2018 2019 2Q2020 Employees Manual Laborers (1) Joint Operations Employees (2) Subcontracted (3)

41

CORPORATE STRUCTURE

• 1. 57.7% of GMI shares have been assigned to a trust formed in benefit of the Peruvian state to secure the company’s contingent obligation to pay

compensation resulting from the investigations of the company by the Peruvian state.

• 2. In June 2018, Graña y Montero transferred economic rights over 48.8% of the share capital of Norvial S.A. The company continues to possess

voting rights over Norvial .S.A.

• 3. 43.3% of the share capital in Viva GyM is held by our subsidiary GyM.

42

DISCLAIMER

THIS PRESENTATION IS STRICTLY CONFIDENTIAL AND IS DELIVERED ONLY TO CERTAIN RECIPIENTS. THIS PRESENTATION MAY NOT BE REPRODUCED (IN PART OR IN WHOLE), DISTRIBUTED OR TRANSMITTED TO ANY OTHER PERSON WITHOUT THE PRIOR WRITTEN CONSENT OF THE COMPANY (AS DEFINED IN THE FOLLOWING PARAGRAPH). IN ADDITION TO OUR PRIOR WRITTEN CONSENT, THIS PRESENTATION MAY NOT BE DISTRIBUTED TO, OR USED BY, ANY PERSON OR ENTITY IN ANY STATE OR JURISDICTION WHERE SUCH USE OR DISTRIBUTION WOULD BE CONTRARY TO APPLICABLE LAWS OR REGULATIONS. BY ACCESSING THIS PRESENTATION, YOU AGREE AND ARE RESPONSIBLE FOR COMPLYING BY THE TERMS AND CONDITIONS DESCRIBED HEREIN.

This presentation has been prepared by Graña y Montero S.A.A. (the "Company"). The information contained herein is not directed at, nor is it intended to be directed at, or used by, any person or entity that is a citizen or resident of, or has a permanent establishment in, or is located in, any state or jurisdiction where such distribution or use may be contrary to laws or regulations or may require for such purpose your registration or authorization within such state or jurisdiction. This presentation may not be used for the purchase of common shares of the Company, except for those issued in the manner described herein and on the terms herein. The information in this presentation is summarized and does not necessarily contain complete information about the matters it describes. In addition, this presentation does not and should not be treated as investment advice. No representation, representation or warranty, whether express or implied, is given as to the accuracy, completeness or veracity of the information contained in this presentation. Any opinions expressed in this presentation are subject to change without notice and the Company has no obligation to update or keep current the information contained herein. The Company and its affiliates, agents, directors and employees assume no responsibility for any loss or damage of any kind arising from the use of all or part of this presentation. Forward-looking statements convey our current expectations or forecasts of future events. These statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to differ materially from the forward-looking statements that we make. Forward-looking statements typically are identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “project,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” or

• ther similar expressions. Any or all of our forward-looking statements in this presentation may turn out to be inaccurate. Except as required by law, we undertake no obligation to

update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this presentation. In light of the risks and uncertainties described above, the future events and circumstances discussed in this presentation might not occur and are not guarantees of future performance.

Contact:

Dennis Gray Febres Corporate CFO (511) 213 6565 dgray@gym.com.pe Paola Pastor Aragón Head of Investor Relations (511) 213 6573 paola.pastor@gym.com.pe relacion.inversionistas@gym.com.pe www.granaymontero.com.pe