Ferrovial N.v. · BME:FER
Ferrovial — Q1 2026 Earnings Presentation
11 slides from Ferrovial's earnings presentation, May 7, 2026
Slide 1: Q1 2026 Financial Results
Picture: 407 ETR (Canada) Q1 2026 FINANCIAL RESULTS May 7, 2026 Q1 2026 1 Financial Results
Slide 2: Disclaimer
DISCLAIMER This presentation has been produced by Ferrovial N.V. (the “Company”, “we” or “us” and, together with its subsidiaries, the “Group”) for the sole purpose expressed herein. By accessing this presentation, you acknowledge that you have read and understood the following statements. Neither t
Slide 3: Q1 2026 Overview
Q1 2026 OVERVIEW Solid growth across all businesses • Highways: North American assets delivered strong revenue growth • Airports: New Terminal One (NTO) construction continued progressing • Construction: Profitability margins remained stable despite increased bidding costs Net debt1 ex-infra project
Slide 4: 407 ETR: EBITDA fueled by revenue growth and mobility trends
407 ETR EBITDA FUELED BY REVENUE GROWTH AND MOBILITY TRENDS Q1 2026 PERFORMANCE vs. Q1 2025 CAD M Q1 2026 VAR. Traffic (VKT M) 567 8.2% CAD M Q1 2026 VAR. Revenue 492 20.0% Toll Revenue 466 22.1% EBITDA 403 25.4% Fee Revenue 24 -15.1% EBITDA mg 81.9% Contract Revenue 2 n.a. Avg revenue per trip (CAD
Slide 5: DFW Managed Lanes
DFW MANAGED LANES DOUBLE-DIGIT REVENUE PER TRANSACTION GROWTH ACROSS ALL ASSETS Q1 2026 PERFORMANCE vs. Q1 2025 NTE LBJ NTE35W USD M Q1 2026 VAR. Q1 2026 VAR. Q1 2026 VAR. Transactions (M) 8 -3.6% 11 -1.5% 12 1.0% Revenue/transaction 10.0 18.3% 5.7 11.5% 7.8 17.3% Revenue 84 13.1% 61 9.8% 95 18.3% 1
Slide 6: I-66 and I-77
I-66 I-77 SOLID TRAFFIC & REVENUE GROWTH WEATHER-IMPACTED TRAFFIC, STRONG PRICING Q1 2026 PERFORMANCE vs. Q1 2025 Q1 2026 PERFORMANCE vs.Q1 2025 USD M Q1 2026 VAR. USD M Q1 2026 VAR. Transactions (M) 8 8.3% Transactions (M) 9 -5.6% Revenue/transaction 8.6 4.9% Revenue/transaction 3.3 14.2% Revenue 7
Slide 7: New Terminal One at JFK and Dalaman
NEW TERMINAL ONE AT JFK DALAMAN TOWARDS OPERATIONAL READINESS OFF-PEAK SEASON DRIVEN BY DOMESTIC TRAFFIC • NTO keeps progressing facing a crucial year for construction and integration EUR M Q1 2026 VAR. Passengers (M) 0,3 9,8% • In terms of schedule, the contractor has communicated an updated target
Slide 8: Construction
CONSTRUCTION STABLE YoY CONSTRUCTION MARGINS WHILE INCREASING BIDDING COSTS Q1 2026 PERFORMANCE vs. Q1 2025 EUR M Q1 2026 Q1 2025 % VAR. % VAR. LfL1 Revenue 1,625 1,584 2.6% 6.9% Adj. EBITDA1 95 87 9.1% 12.2% Adj. EBITDA mg 1 5.8% 5.5% Adj. EBIT 1 50 52 -4.3% -3.1% Adj. EBIT mg 1 3.1% 3.3% • Budimex
Slide 9: Q1 2026 Change in Consolidated Net Debt
Q1 2026 CHANGE IN CONSOLIDATED NET DEBT1 EX-INFRASTRUCTURE PROJECT COMPANIES (€ M) CASH FLOWS EUR +346 M OPERATING (EUR +86 M) INVESTING (EUR -4 M) FINANCING (EUR +264 M) 8 421 144 17 6 27 (46) (21) (48) (162) 4,416 CASH 4,070 CASH Dividends Construction Other cash Tax payments Cash flows from Inter
Slide 10: Q&A
Q&A Picture: NTE (USA) Q1 2025 H1 2026 10 Financial Results
Slide 11: Investor Relations
Picture: NTE (USA) INVESTOR RELATIONS +34 91 586 25 65 +31 207 983 700 ir@ferrovial.com www.ferrovial.com Q1 2026 Financial Results