Presentation A World of Inspiration April 2019 2 Index 01 04 - - PowerPoint PPT Presentation

April 2019

Investor Presentation

A World of Inspiration

2 Index

01

Snapshot

Page 3

04

Appendix

Page 30

02

Results Overview

Page 7

03

Regional Segments

Page 18

Europe Africa Latin America

• Mota & Cia was founded in 1946 by Mr. Manuel António da Mota

In Portugal but with operations only in Angola

• The company won its first contract in Portugal in 1975
• In 1987 Mota & Cia become listed in Portuguese stock exchange
• In 2000, the Mota Family acquired Engil, merged Mota & Cia and Engil and became leader in Portugal not only in construction but

also in waste management

• In the last 15 years Mota-Engil has grown more than nine times outside Portugal with Africa and Latam as the main focus on the

internationalisation strategy

• Leader in Portugal | European Top 30
• Market Cap: €484 mn (29 March 2019)
• Main Shareholders: Mota Family (65%) / Norges Bank (3.78%) / Mutima Capital (3.0%) / Cobas (2.14%) / Az Valor (2.54%)

3

Snapshot

6 Index

02

Results Overview

Page 7

7 Key Highlights

• Record Turnover

€2,802 mn

• Record backlog

€5.5 bn

• Resilient EBITDA

€407 mn (margin 15%)

• Net profit

€24 mn

• Net debt

€955 mn (gearing 2.3x)

• Capex

€287 mn

4.4 5.1 5.5

Dec.16 Dec.17 Dec.18

Europe Africa Latin America

8

P&L (€ mn)

• Turnover reached €2,802 mn with all regions

presenting a positive trend

• Strong EBITDA margin of 15%, mainly driven

by Africa an Latin America

• Net financial results reflect positive forex

impact

• Effective tax rate of 31%
• Net income improvement was mainly driven

by businesses without minorities

• IAS 29 had a negative impact of €7 mn in

EBITDA and €15 mn in net income

1The caption “Net monetary position” reflects partially the accounting of Angola as a hyperinflationary economy (IAS 29).

Net income up to €24 mn

8

2018 2017 YoY 2H18 YoY

Turnover 2,802 2,597 8% 1,551 11% EBITDA 407 405 1% 231 4% Margin 15% 16% (1 p.p.) 15% (1 p.p.) EBIT 200 186 8% 110 20% Margin 7% 7% (0 p.p.) 7% (0 p.p.) Net financial results (55) (102) 46% (49) 11% Associates 3 3 21% 2 (4%) Net monetary position1 (14) 3 n.m. (14) n.m. EBT 135 90 50% 63 (62%) Net income 93 61 52% 52 (139%) Attributable to: Non-controlling interests 70 60 17% 34 38% Group 24 2 n.m. 18 n.m.

9

EBITDA with continued growth reaching €407 mn

P&L breakdown (€ mn)

• Europe

turnover reflects stable activity, notwithstanding lower profitability

• Africa

2H18 activity showed a strong acceleration, a trend that is expected to continue in 2019

• Africa EBITDA margin increased to 21% (up

2p.p. YoY) with a balanced contribution from the main markets

• Turnover in Latin America benefited from good

project execution pace which led to a double digit growth (11% YoY) with increase in EBITDA margin

9

2018 2017 YoY 2H18 YoY

Turnover 2,802 2,597 8% 1,551 11% Europe 859 828 4% 453 1% Africa 905 860 5% 543 6% Latin America 1,069 960 11% 582 19% Other and intercompany (30) (51) 41% (27) 43% EBITDA 407 405 1% 231 4% Margin 15% 16% (1 p.p.) 15% (1 p.p.) Europe 71 141 (50%) 24 (76%) Margin 8% 17% (9 p.p.) 5% (17 p.p.) Africa 192 164 17% 110 28% Margin 21% 19% 2 p.p. 20% 2 p.p. Latin America 140 109 28% 98 19% Margin 13% 11% 2 p.p. 17% 0 p.p. Other and intercompany 4 (10) n.m. (1) 91%

10

Backlog by region Total backlog evolution (€ mn)

• Backlog up €327 mn in 2018 to €5.5 bn, of which 87% relates to the construction activity
• E&C backlog to sales1 ratio of 2.1x
• Strong commercial perspectives for 2019.

1Ratio calculated as follows: E&C Backlog/E&C Turnover.

Record backlog of €5.5 bn

Africa 50% Europe 23% Latin America 27%

4,422 5,138 5,465 3,779 4,305 4,777 1,768 2,046 2,299

2016 2017 2018

Total Backlog E&C Backlog E&C Turnover

E&C backlog by segment

Roads, infrastructures and others 58% Civil Construction 21% Oil&Gas and Power 6% Mining 15%

10

11

Major construction projects currently in backlog

1Selection of E&C projects above €100 mn.

Project 1 Range (€ mn) Country Segment

• Exp. Year of

Completion Vale Mining Moatize > 250 Mozambique Mining 2022 Gran Canal highway > 250 Mexico Roads 2019 Classes: G1 Caribbean; G2 Eje Cafetero - Pacific; G3 Antioquia - Eje Cafetero - Pacific > 250 Colombia Civil Construction 2020 Las Bambas dam (phase 4 under execution) [200;250] Peru Power 2020 Cardel-Poza Rica highway [200;250] Mexico Roads 2019 Tuxpan-Tampico highway [200;250] Mexico Roads 2019 BR-381 highway dualisation (section 3.1 and section 7) [200;250] Brazil Roads 2020 Siguiri gold mine [150;200[ Guinea Conakry Mining 2022 General Hospital of Cabinda [100;150[ Angola Civil Construction 2020 Capacity Improvement Kampala Northern Bypass [100;150[ Uganda Roads 2021 Fourways Mall Extensions [100;150[ South Africa Civil Construction 2019 Bordo Poniente [100;150[ Mexico Urban Infrastructures 2020 Offshore platform - operational unit Rio Section B [100;150[ Brazil Oil&Gas 2022

11

Net debt1 and EBITDA evolution (€ Mn)

Total net debt EBITDA 12

Committed to decrease net debt/EBITDA

Net debt/EBITDA

1Excludes leasing and factoring. Sovereign Angolan bonds considered as “cash and cash equivalents”.

• Despite the increase of activity, net debt and gearing showed a decreasing trend
• Working capital/Turnover ratio at a very comfortable level (7%)
• Focus on structuring the contracts with the aim of minimising the receivables payment period and credit risk exposure
• Establishment of agreements and cooperation with multilaterals, ECAs and pre-payments (for large contracts) are key to

reach that goal

Working capital evolution

475 367 177 199 20% 17% 7% 7%

• 20%
• 15%
• 10%
• 5%

0% 5% 10% 15% 20% 25% 125 225 325 425 525 Dec.15 Dec.16 Dec.17 Dec.18 Working capital (€ mn) Working capital/Sales

Committed to decrease net debt

13

57 40 13 101 21 45 9

Europe Africa Latin America Others 78 186 22 1

Total capex of €287 mn

Net capex (€ mn) Capex in 2018 by region (€ mn)

• Africa accounted for 65% of the total capex, including c.€101 mn of equipment related with long-term mining projects
• E&S capex of €104 mn was mainly channelled to EGF, Vista Waste (Angola) and the waste activity in Ivory Coast
• Relevant part of the capex was financed through leasing, which accounted for c.€140 mn
• Maintenance capex stood at 4% of turnover

1E&S includes the energy business.

Maintenance Growth E&C Capex E&S Capex1 E&C Capex – long term contracts E&C Capex – long term contracts

13

14

Free cash flow (€ mn)

Solid CFFO of €344 mn

1Net debt considers Angola’s sovereign bonds denominated in US$ and US$ linked as “cash and cash equivalents” which amounted to €152 mn in December 2018 and €156 mn in December 2017 and

Malawi’s sovereign bonds amounting to €14 mn in December 2018.

CFFO €344 mn

Mainly non-cash forex items (included in net financials)

1 1

14

15

Already refinanced or to be refinanced shortly

Stable gearing at 2.3x

• Net debt1 of €955 mn
• Leasing amounted to €266 mn, up €101 mn in 2018, of which €97 mn related to long-term mining contracts
• Cost of debt of 5.0%, down from 5.6% in December 2017
• Average debt life of 2.3 years, impacted by the successful €110 mn bond issue in November 2018
• The net debt increase amounted to c.40% of the capex not financed through leasing

Gross debt maturity2, December 2018 (€ mn) Cost of debt and gearing3

Non-revolving Revolving

1Excluding leasing and factoring amounting to €266 mn and €120 mn, respectively, and including €152 mn of Angolan sovereign bonds and €14 mn of Malawi’s sovereign bonds; 2Excluding leasing and

factoring; 3Net debt/EBITDA.

807

Cash & Cash equiv. Undrawn credit lines

766

15

3.6x 3.4x 2.2x 2.5x 2.3x

6.2% 5.8% 5.6% 5.6% 5.1%

Dec15 Dec16 Dec17 Jun18 Dec18

16

Guidance and strategic targets Achievements 2018

Top line growth Resilient EBITDA margin Working capital management focus Backlog > €5 bn Capital structure optimisation Turnover up 8% YoY EBITDA margin at 15% Record backlog of €5.5 bn Working capital/sales at 7% Net debt/EBITDA of 2.3 x

Delivering our commitments

16

17 Index

03

Regional Segments

Page 18

Europe Africa Latin America

Europe

Portugal Spain Poland Czech Republic Ireland United Kingdom

Highlights 2018

06

Countries

859M€

Turnover

1,226M€

Backlog

2016 2017 2018

0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 2016 2017 2018

2016 2017 2018

Turnover (€ mn)

19

841 859 CAGR +1% 802 1,226 CAGR +24%

Backlog1 (€ mn)

111 71 CAGR -20% 13%

EBITDA (€ mn) and margin (%)

1Contracts already signed and financed. Excludes future revenues from concessions (highways and EGF).

• Railway Plan 2020: Total €2.7 bn
• European Funds Committed
• Sines/Badajoz (Biggest contract)
• To be completed in 2022
• New

Lisbon International Airport: Expansion

• f

the existing infrastructure and construction of a new airport in the south margin (completed in 2022)

• CAPEX: €1.15 bn (excluding access roads)
• Private Investment (ANA Aeroportos/Vinci)
• New Lisbon Hospital: PPP (30 years) - c.€335 mn
• New Madeira Hospital (€205 mn) and Évora (€150 mn)
• Total Investments: €1Bn. Projects to be completed in 2023
• Lisbon (c.€310 mn) and Oporto (c.€210 mn) metro expansion
• Both to be completed in 2023

Positive Outlook por the upcoming years in Portugal

• EGF Plan of Investment for 2019-2021: €195 mn
• Regulated business (RAB: €319mn and ROA: 5,29%)

8%

Key-Figures and Perspectives

Key figures and Outlook

20

20

Flagship projects - Europe

Rockbuilding, Portugal Nysa bypass, Poland Highway S19, Poland Vasco da Gama Bridge, Portugal Alto do Lindoso Dam, Portugal Section of expressway S17, Poland Luz hospital expansion, Portugal EDP headquarters, Portugal Pinhal Interior highways, Portugal

Flagship projects

Africa

Angola Mozambique Malawi South Africa Cape Verde São Tomé and Príncipe Zambia Zimbabwe Uganda Rwanda Tanzania Guinea Conakry Cameroon Ivory Coast Nigeria

Highlights 2018

15

Countries

905M€

Turnover

2,758M€

Backlog

22

Angola 31% Mozambique, Malawi and Ivory Coast 39% Other 30%

Record backlog and positive commercial perspetives

• Backlog of €2.8 bn of which 90% in hard currency or hard

currency linked

• Pure private clients account for c.40% of total backlog
• Angola’s strong backlog of c.€850 mn
• Long-term mining (Mozambique and Guinea Conakry) contracts

assure predictable activity and cash flow

• 2019 will be the first full year of activity of the waste contract
• peration in Ivory Coast (seven year contract worth €320 mn)
• Several projects in the pipeline with awards expected for 2019,

namely in Mozambique and Angola Backlog by country

1

1Namely Guinea Conakry and Uganda.

22

2016 2017 2018

2016 2017 2018

2016 2017 2018

Turnover (€ mn)

Key-Figures and Perspectives

23

708 905 CAGR +13% 1,706 2,758 CAGR +27% 182 192 26% 21% CAGR 3%

EBITDA (€ mn) and margin (%) Backlog1 (€ mn)

1Contracts already signed and financed.

Good Perspectives supported in an All Time High Value of Backlog

• All-Time High Value of Backlog: €2.8 Bn (2018)
• Long-Term Contracts in Mining Segment: Mozambique (Vale) and Guinea (Ashanti Gold)
• Ivory Coast: 7 years Contract (Waste Management) starting in Nov. 2018
• Positive and regular margins in the Region (Ebitda: 20%)
• Long presence in Africa (since 1946) and with fully vertically integrated business, supported by a

strong installed asset base

• Leadership in markets such as Angola, Mozambique and Malawi
• Focus on large infrastructure projects
• Recent expansion to new markets in sub-Saharan region and in Environment (Waste Management)
• Opportunities for Public Clients (Government / Programmes financed by multilaterals or ECA Lines)
• Private investments in perspective namely in Oil&Gas (LNG Project in Mozambique), Mining,

Transport and Logistics)

Key figures and Outlook

Nacala Corridor Project, Malawi Luanda Bay rehabilitation, Angola Vale’s mining contract, Mozambique

24

Flagship projects - Africa

Siguiri’s gold mining works, Guinea Conakry Golfe Camama road, Angola Calueque dam, Angola Great East road, Zambia Cabinda’s hospital, Angola Ishaka-Katunguru road rehabilitation, Uganda

Flagship projects

Latin America

Mexico Peru Brazil Colombia Chile Dominican Republic Paraguay Aruba

Highlights 2018

08

Countries

1,069M€

Turnover

1.481M€

Backlog

26

Strong performance

• Backlog of €1.5 bn spread among six countries with

Mexico and Brazil representing c.55%

• Entry in 2018 in the Oil&Gas segment in Brazil with

contracts worth c.€150 mn with Petrobras

• Expected higher contribution from Colombia related

to a significant schools construction contract

• Expected monetisation of assets in Mexico related

with the CERPI fund

• The pipeline is attractive and awards are expected to

take place in several countries such as, Brazil and Colombia

• Energy business expected to continue delivering with

strong profitability Gran Canal road project, Mexico

26

27

2016 2017 2018

2016 2017 2018

2016 2017 2018

27

Turnover (€ mn)

727 1,069 CAGR +21% 1,914 1,481 CAGR -12%

Backlog1 (€ mn) EBITDA (€ mn) and margin (%)

140 44 CAGR +78% 13% 6%

1Contracts already signed and financed. Excludes future revenues from concessions (highways).

A Regional Player and a Recognized Brand in Latam

• All-Time High Value of Turnover: €1.084 mn (2018)
• Resilient margin of 13%
• Comfortable level of Backlog: €1.5 Bn (1.5 years)
• Regional Player (7th position in the Ranking: CLA 50)
• Presence in the Region since 1998 (Peru)
• Mexico: Biggest market with presence in E&C, E&S, concessions and Energy (1st private operator)
• Partnerships with local companies (Ex: ME Mexico and ECB), including in the financial front (CERPI)
• Concession investment as a promoter of construction, with an asset rotation policy focus
• Public investment to be fueled by new Infrastructure Plans in the near future
• Mota-Engil know-how of more than 20 years is a competitive advantage to leverage on PPP and

APP opportunities

Key-Figures and Perspectives

Key figures and Outlook

Perote-Xalapa Project, Mexico Cerro Verde mining, Peru Carajás railway, Brazil

28

Flagship projects - Latin America

Cardel-Poza Rica highway, Mexico Tuxpan-Tampico highway, Mexico Gran-Canal highway, Mexico Rehabilitation center, Colombia BR 381 road, Brazil Guadalajara light rail, Mexico

Flagship projects

29 Index

04

Appendix

Page 30

30

1946 Incorporation

• f Mota &

Companhia in Angola 1952 Completion

• f the first

major project: Luanda International Airport in Angola 1974 Expansion into Sub- Saharan countries

• ther than

Angola 1987 IPO of Mota & Companhia on the Lisbon Stock Exchange 2000 Merger of Mota & Companhia and Engil 2006 Enters the logistics sector through the acquisition

• f the Tertir

Group in Portugal 2012 Awarded two sections of the Nacala Corridor railway project in Malawi 2013 Announced intention to spin-off and list its African business 1952 Incorporation of Engil in Portugal 1976 Mota & Companhia begins

• perations in

Portugal 1994 Mota & Companhia diversifies its service

• ffering

2005 Lists on Euronext Lisbon’s main share index Mota-Engil SGPS completes €110 Mn ABB 2012 Restructures

• rganisational

model to geographic business segments 2013 €175 Mn listed medium-term bonds issued 2014 Acquisition of EGF Mota-Engil SGPS completes €160 Mn ABB 2016 Ports & Logistics businesses sale Indaqua sale Agreement to sell Ascendi’s assets 2015 De-listing of MEAFR and ME SGPS share capital increase Enters the energy production sector through Fenix (Mexico) 2017 First closing

• f Ascendi’s

assets sale to Ardian 2018 Start of Operations in Waste Management in Ivory Coast Enter in Oil&Gas Maintenance in Brazil €110 Mn listed medium-term bonds issued

Mota-Engil past main milestones

31

Gonçalo Moura Martins CEO

31

• Degree in Law
• With Mota-Engil since

1990, holding several management positions José Pedro Freitas CFO

• Degree in Economics
• Since 2009 in senior

positions in the Group Carlos Mota Santos Deputy CEO

• Degree in Civil

Engineering

• With the Group since

2006 in senior positions Manuel Mota CEO Europe & Africa

• Degree in Civil

Engineering

• More than 10 years of

experience in the Group, namely in Central Europe and in Africa’s division Ismael Gaspar CEO ME Capital

• Degree in Civil

Engineering

• With the Group for 30

years João Parreira CEO Latin America

• Degree in Law
• Working for Mota-Engil

since 2008, being the CEO of LatAm region since 2012 Eduardo Pimentel HR / IT and Resources

• Degree in Civil

Engineering

• Working in the Group for

25 years Luís Silva Strategic Planning and Control

• Degree in Economics
• With the Group for 27

years

Executive Committee

32

• Mota Family (FM - Sociedade de Controlo) has an equity stake of 65% and a long term commitment and fully supports strategy
• Other shareholders with qualified positions: Norges Bank (3.78%), Mutima Capital (3.0%), Cobas (2.14%) and Az Valor (2.54%)
• Treasury shares of 2.6% of share capital
• Market capitalization: €484 Mn (29 March 2019)
• Payout policy: 50%-75%

1Source: Bloomberg.

Ten year share price performance1 (€)

32

Ten year relative return1

• 100%
• 50%

0% 50% 100% 150% Mar/09 Aug/09 Jan/10 Jun/10 Nov/10 Apr/11 Sep/11 Feb/12 Jul/12 Dec/12 May/13 Oct/13 Mar/14 Aug/14 Jan/15 Jun/15 Nov/15 Apr/16 Sep/16 Feb/17 Jul/17 Dec/17 May/18 Oct/18 Mar/19 Mota Engil PSI20 Index SXOP Index

2 4 6 8 Mar/09 Mar/10 Mar/11 Mar/12 Mar/13 Mar/14 Mar/15 Mar-16 Mar-17 Mar/18 Mar/19

Mota-Engil’s share

33

Balance sheet (€ mn)

1Net debt considers Angola’s and Malawi’s sovereign bonds as “cash and cash equivalents”.

Balance sheet

33

Dec.18 Jun.18 Dec.17 Dec.18- Dec.17

Fixed assets 1,296 1,251 1,263 33 Financial investments 290 270 233 57 Long term receivables 117 121 140 (22) Non-current Assets held for sale (net) 90 92 91 (1) Working capital 199 221 177 22 1,992 1,955 1,905 87 Equity 447 490 596 (149) Provisions 104 95 96 8 Long term payables 486 369 335 151 Net debt 1 955 1,002 877 78 1,992 1,955 1,905 87

34

Europe performance breakdown

Key financials (€ mn)

34

2018 2017 YoY 2H18 YoY

Turnover 859 828 4% 453 1% E&C 572 538 6% 342 16% E&S 300 296 1% 147 16% Other, elim. and interc. (13) (7) (77%) (10) (82%) EBITDA 71 141 (50%) 24 (76%) Margin 8% 17% (9 p.p.) 5% (17 p.p.) E&C (12) 46 n.m. (12) n.m. Margin (2%) 9% (12 p.p.) (4%) (21 p.p.) E&S 84 97 (13%) 37 (19%) Margin 28% 33% (5 p.p.) 25% (10 p.p.) Other, elim. and interc. (2) (2) (2%) (1) (28%)

35

1995 - Start of operations (waste collection) 2008 - Beginning of internationalisation (to Angola) 2014 - Acquisition of EGF (waste management) 2018 - Start of operations of the waste collection (€320 mn) and the waste management (€140 mn) contracts in Ivory Coast

Key figures (2018)

Turnover €344 mn EBITDA €100 mn 18.5 million clients

Milestones

Waste business: relevant and stable contribution from all regions

50 100 150 200 250 300 350 400 2014 2015 2016 2017 2018 Turnover (€ mn) EBITDA (€ mn)

8 countries

Angola Brazil Cape Verde Ivory Coast Mexico Mozambique Oman Portugal

35

36

Disclaimer

This presentation used sources deemed credible and reliable but is not guaranteed as to accuracy or completeness. It also contains forward looking information that expresses management’s best assessments but might prove inaccurate. The information contained in this presentation is subject to many factors and uncertainties and therefore subject to change without notice. The company declines any responsibility to update, revise or correct any of the information hereby contained. This presentation does not constitute an offer or invitation to purchase securities of Mota-Engil.

36

PEDRO ARRAIS Director, 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

linkedin.com/company/mota-engil www.youtube.com/motaengilsgps www.facebook.com/motaengil