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Servicios CiudadanosServices for Citizens

November 2010

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FCC Overview1.1 What is FCC?

1.2 Balanced Business Model

1.3 Consolidated International Presence

1.4 Sound Financial Position

Services for Citizens

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#1 in waste management in Austria and Eastern Europe

#1 in end-to-end water and waste management in Latin America

#1 in environmental services in Spain and #2 in infrastructure construction

#2 in infrastructure construction in Austria and a leader in Eastern Europe

#1 in Spain's cement market

#1 in industrial waste management in Iberia and #2 in the US

#1 in waste disposal in the UK

Top 10 worldwide (€ 3 billion assets)

Citizen Services What is FCC?

#2 in water management in Spain and #4 in the world

International leading group in Environmental Services and Infrastructures

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Citizen Services

Value creation supported by balanced infrastructure, services and energy business activities, with a strong long-term demand potential, based on an unstoppable urban growth.

Close to 60% of EBITDA comes from recurrent activities with high visibility on cash flow generation such as environmental services and energy

Construction

INFRASTRUCTURE

42%

Cement

EBITDA1 by Business Area

SERVICES & ENERGY

58%

Energy Urban Services Environmental Services

Balanced Business Model

(1) 9M 2009

27% 15% 5%8% 45%

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Citizen Services

(1) 9M 2009

International Revenues1

Domestic55%

International45%

45% of revenues come from international markets

Mainly from Europe (85%), where FCC has become a leading player in Infrastructures and Environmental Services

International backlog has grown by 17% in the last twelve months1

Consolidated International Presence

Construction30%

Services12%

Cement2%

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Infrastructure24%

Debt structure by area is in line with cash-flow visibility

Strong liquidity position with over 1.2 billion € in available credit lines3

Financial leverage1

Equity

Net debt

29%

71%62%

38% Without recourse

With recourse 3.452Net Debt

EBITDA=

Debt structure1

Services & Energy73%

Other3%

5.74Operating C.F.

Financial Expenses=

Services for CitizensSound Financial Position

(1) FY 2009 (2) Net Debt and EBITDA, both with recourse

(3) As of 9M10

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FCC Strategy2.1 Strategic drivers2.2 Priorities by area2.3 2010 targets 2Services for Citizens

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Citizen Services

Reinforce Internationalization Process Infrastructures Environmental Services & WaterRenewable Energies

Increase Organizational Efficiency

Process reengineering Cost optimization Synergy Procurement

Strategic Drivers

Balance Sheet Management Working capital restraint Financial leverage reduction Active management of asset

portfolio

Growth

Profitability Financing

Above 60% of sales from abroad in 2013,

mostly from key areas

200 Mn€ of additional cost savings as from 2011

TargetNet Debt to Ebitda ≤ 3x

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USA 3%

Citizen Services Environmental Services

41%

28%

23%

8% Industrial Waste

Water

EnvironmentInternational

EnvironmentSpain

• High component of public service

• Stable, regulated and long-term contracts

• High entry barriers

• Capital intensive projects

• High operating margins

• High earnings visibility (backlog)

Revenues by region1

Domestic 64%

U.K. 18%

Central & Eastern Europe 13%

Revenues by type of business1 Features

(1) 9M 2009(2) Source: Eurostat

(3) Source: “Infrastructure to 2030” – OECD

Growth in near markets (“buy and build”)

Strengthen position in Recycling area in core EU Markets (Spain, UK and Central Europe): EU foresees 35 % waste generation growth up to 2020, whereas European Waste Directive2 aims for 50% of urban waste to be recycled by 2020 against current 40%.

Water business expansion based on BOT projects in developing countries. Water infrastructure needs in 2010/2020 will exceed combine investment in transport infrastructure and energy 3.

Gear on our branding quality to raise capital from international banking support (agreement with EBRD and World Bank).

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A 2-folded strategy: Maintain EU “Home Markets” position plus strong expansion in 5/6 new selected quality jurisdiction. FCC international backlog has increased by over 20% since final 2008 1 . Some of the most relevant in-take in non-local markets are as follows:

Algeria: 1.293 M€ Panama: 1.220 M€

Extraordinary Investment Plan (PEI) in Spain might partially offset the impact of public demand restrictions for infrastructure

Transport Infrastructure concession unit (50% stake in GVI) to crystallize value in the medium term (consolidation > growth > transfer)

Citizen Services Infrastructure

(1) 9M 2009

Reinforce internationalization process with focus in 5/6 markets

76%

15%9% Residential building

Non residential building

Civil Works

• Specialized in large infrastructures (civil works)

• High entry barriers

• Operating flexibility

• Strong cash flow generation

• Backlog covers ≈ 18 months of production

Domestic 45% Austria 22%

Eastern Europe 13%Other

countries 5%

Germany 10%

Rest of Europe 5%

Revenues by region1Revenues by type of business1 Features

UK: 366 M€ Mexico: 266 M€

Rumania: 220 M€

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Citizen Services Energy

Location Installed capacity (MW)* Features

Growth through green field projects in markets with higher potential

Organic and self financing growth: Development of 2 thermo-solar projects in 2011/2014 (c40% growth in area revenues). Operating cash flow and project finance debt to back organic growth.

Synergies: Explore green field opportunities in Group diverse locations (UK, USA and Central Europe).

In house think-tank. New lines of activities from Energy Efficiency Services (Efitek), roof solar installation, energy and electric vehicle infrastructure.

Wind farms

Solar power plantsThermo-solar plants

Wind

Solar

Thermo-solarUnder development:2011-2014

422 MW

20 MW

100 MW

+

422 MW

20 MW• Recurrent revenues with

regulated tariffs

• Capital intensive projects

• Non recourse financing

• Natural hedge of energy cost in the Cement business in Spain (≈15% of the production cost)

*Not including: – 165 MW of “Energy from Waste” (biomass) installed within the environmental division– 100 MW of wind capacity awarded in Catalonia (Spain) to be installed as from 2013– 60/80 MW of wind capacity to be installed in FCC’s U.K landfills

(1) Source: Eurostat 2009

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Citizen Services Cement

Leading position in Spain Features

Maximize cash flow generation

Focus on profitability and reinforcing leading position centered in the Spanish Market. Enhance competitive leadership in Spain after the hard landing suffered in 2007/2010 (a 20-year low) Management focused on increasing efficiency improvement and cost optimization

Plan 100 + → 71 M€ of recurrent savings in 2009 and goal of > 100 M€ savings in 2010

Alternative fuel replacement → 6% in 2009, up to 30% by 2013

• High entry barriers

• Mature industry

• Strong cash flow generation

• Temporary low demand situation

Domestic 67%USA 15%

Rest 6%

Tunisia 10%

Region where CPV operatesCement Factories

(1) 9M 2009

Revenues by region1

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Citizen Services Urban Services (Versia)

Domestic 67%Western

Europe 26%

USA3%

Revenues by type of business1

Active management of asset portfolio

Vehicle Testing 7%

Handling29%

Car parks 9%

Urban Furniture 14%

Maintenance & other7%

Logistics34%

Growing trend towards logistics and handling services outsourcing Weakening of traditional mass media in favor of Internet and outdoor publicity (urban furniture) Vehicle testing, car parks and maintenance businesses linked to long term public service concessions

Revenues by region1

(1) 9M 2009

Others3%

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Strict management of balance sheet and cash generation

Debt containment

Rigorous working capital management

Efficiency and cost saving (purchases and structure)

Reinforce our leadershipRaise market share with improved profitability

Increase presence in international markets

Shareholder value commitment

Active management of asset portfolio

Sustained Pay-out (2010 GDY over 7%)

Consolidate 2010 as year of the cycle change

Services for Citizens

To beat 2009 resultsEBITDA

Net profit

2010 Targets

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FCC Market Valuation3.1 Valuation multiples 3Services for Citizens

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Citizen Services Market valuation

8,6

13,8

8,7

7,0

FCC Sector Average

P/E 2010 (x)

EV/EBITDA 2010 (x)

FCC Sector Average

7,4

3,8

Gross Dividend Yield 2010 (%)

FCC Sector Average

1,0

1,9

P/ Book Value 2010 (x)

FCC Sector Average

European Infrastructure and Service Sector

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Servicesfor Citizens

We help create eco-efficient communities

Thank you

Finance DepartmentInvestor Relations