PRESS CONFERENCE Shareholders’ General Meeting 2016

• Reduce the number of directors to 15 (6 independents)

• Nomination and Remuneration, Audit and Control and Social Responsibility committees comprise 5 members (3 independent directors, including its President)

• Reduce the Executive Committee from 9 to 6 members (2 independents)

• Creation of the Chief Compliance Officer position

Corporate governance

Public-private partnership

Imbalances Public finances

Public-private partnership

Plan de Relance

Ongoing negotiations

Next legislative period

Results

Group's Net Debt

12.55€Bn2.69€Bn

EBITDA

+5%comparable

Group's Net Profit

1.88€Bn

+7%comparable

-9%

Stock market performance

60

70

80

90

100

110

120

ABERTIS IBEX 35 * reinvesting dividends, bonus issues and revaluation of the portfolio

282%2003-2016

Abertis -7.9%

IBEX-35 -7.2%

20162015

Cumulative yield*

11.2% annual

Shareholder structure

Shareholders: ~75,000 Market cap.: ~13.6 €Bn

Ave

rage

dai

ly t

radi

ng

(tho

usan

d sh

ares

)

Growing free float and more liquidity

Liquidity

Treasury shares

Free Float

3% Lazard

3% BlackRock

5% Capital

23%

8%

16%

53%

2014 2015

64%4,500

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

0

Shareholder return

Ordinary dividend

0.69 €/share

0.33 on account (paid November 2015)

0.36 Supplementary (payment 19 April 2016)

+10% dividend per share

5% nominal increase +

5% bonus issue 2015[ ]

1x20 Bonus share issue 2016

CSR

Foundation & CSR

Key figures (compared to 2014):

No. of victims 15%

Net debt 9%

Revenue 5%

EBITDA 5%

Net profit 7%

Dividends 10%

Another year of growth, with over �1 billion in investment,and improvements in key figures

Accident rate (IF1) No. of victims

Reduction in no. accidents

4%

Reduction in no. victims

15%

Continued improvement in road safety on all our toll roads

Road safety in 2015

2013 2014 2015

1,1311,037

887

25.2

22.5

23.4

% comparable

Revenue 4,378 +5%

Operating costs -1,686

Gross margin (EBITDA)2,692

62%+5%

Depreciation and provisions Financial costs and corporate income tax Associates and discontinued operations Minority interests

-2,757 -1,114 2,680

378

Net profit 1,880 +7%

Improvement in gross margin and greater geographical diversification

P&L account (�Bn)

6%6%

13%

38%

3%

34%

87

19

145253

409161

Other

Over 1�Mn invested to generate future income

Investment (�Bn)

1,074

19 -5 +5 1920

december 2010

Years elapsed Years for new investments

december 2015 april 2016

Constantly investing to ensure the future

Average equivalent proportional length of concessions (years)

• Cellnex IPO for its international development

• 2nd savings plan of �400Bn in 3 years

• Special focus onFrance & Brazil

• Extensions and new acquisitions

• Maintaining our financial discipline

• Dividend: +10% annual (�2,100Mn to distribute in 2015-17 period)

• Treasury stock

Commitments to value creation for shareholders

Our commitments

We are delivering

FOCUS EFFICIENCIES GROWTH SHAREHOLDER REMUNERATION

Túnels (control taken in December 2015) Minority purchases and extension of concessions

Plan Relance (extending concession to 2032) Concession readjustments in negotiation

Infrastructure plan (PIL) in 2016 Investment programme in exchange for extensions

A4 Holding (exclusivity agreement) Others under study

Growth orientation with financial discipline

Growth Through investments in the current asset base and corporate deals

Promoting safer toll roads, with better technology

Good business in 2015 with a historic result and good perspectives for 2016

Fulfillment of the Strategic Plan 2015-17 underway

�1 billion invested in 2015 and �2 billion in 2016 (without considering possible new M&A operations)

Extension of the average length of concessions

Extensive pipeline of new projects in counties in portfolio and in new markets

Conclusions

Attractive shareholder’s remuneration