1

2013 Highlights

• Appointment of Mr. Josep Piqué as CEO

• Consolidation in Abertis as Industrial Partner and Reference Shareholder.

18.93% stake as at 12/31/2013, with current market value of € 2.7 bn

• Compliance with Financial Policies. At 2013 year end:

• Recourse Net Debt/ Recourse EBITDA below 3x

• Strong Recourse Liquidity position (€ 1.9 bn)

• Solid Construction activity with:

• EBITDA/Sales margin of 9.4%

• € 8 bn orderbook, and

• € 3 bn new awards

• Satisfactory Results with EBITDA +15.4%

• Strengthening OHL Mexico through:

• Follow-on offering (P$ 7 bn), and

• Integral Refinancing of ConMex (P$ 17 bn)

• 63.64% stake as at 12/31/2013, with current market value of € 2.2 bn

A Year of Consolidation and Compliance

2

I. OHL’s Position

II. 2013 Results

III. Good Governance & CSR

IV. Resolutions Proposal

3

OHL’s PositionA leading Global Platform benefiting from Global Opportunities

Balanced Geographical Exposure (26 countries accross 5 continents)

85% of the Orderbook and 92% of EBITDA from abroad

Source: IMF

Region

∆ GDP

2014E

CPI

2014E

World 3.6% 3.5%

Developed Economies 2.2% 1.5%

USA 2.8% 1.4%

Eurozone 1.2% 0.9%

Emerging Economies 4.9% 5.5%

Mexico 3.0% 4.0%

Spain 0.9% 0.3%

7 in America

� Canada

� USA

� Mexico

� Colombia

� Peru

� Chile

� Honduras

11 in Europe

� Bosnia & Herzegovina

� Bulgaria

� Croatia

� Spain

� Slovenia

� Montenegro

� Poland

� Czech republic

� Slovak republic

� Romania

� Russia

6 in Asia

� Saudi Arabia

� Qatar

� Kuwait

� Turkey

� Kazakhstan

� Vietnam

1 in Africa

� Algeria

1 in Oceania

� Australia

4

OHL’s PositioncotizacionImportant and Steady Growth Track Record

Sales (€ MM) EBITDA (€ MM)

Recurrent Net Profit (€ MM) Orderbook (€ MM)

Solid and consistent growth driven by its two core businesses:

Concessions and Construction

5.959 10.656 12.750 18.398 26.670 32.756

53.045 61.332

76.371 72.455

45.373 51.245

2.729 3.309 3.717

4.224

5.114 5.302

6.024

5.395

5.639 8.897

8.040 8.270

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

1.7722.112 2.231 2.443

3.2783.764 4.009

4.780 4.771 4.870

4.0303.684

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

188 229 262 285

489 543 608 763

991

1.219 1.053

1.215

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

42 49 57

102 105

141 151 156

196 223

260 270

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

8,688 13,965 16,46722,622

31,78438,058

59,06966,727

82,010 81,352

53,41359.515

CAGR 2002-2013: +18.5%

CAGR 2002-2013: +18.4% CAGR 2002-2013: +19.1%

CAGR 2002-2013: +6.9%

■ Long-Term

■ Short-Term

• In 2012 change of scale due to the OHL’s concessions in Brazil and Chile contribution to Abertis

5

OHL’s Position

• Cumulative revaluation (12/31/2002 – 04/30/2014):

• Generating Value for the Shareholder:

• Dividend Payout of 25% from the Recurrent Net Profit + Revaluation

• 100 € invested in 12/31/02 turns as of 04/30/14 in:

• 173 € invested in the Ibex-35, 73€ gain (5.0% annual)

• 218€ invested in the average of the other construction companies,118 € gain (7.1%

annual)

• 1.119 € invested in OHL, 1.019 € gain, 8.6x higher than the average of the other

construction companies (23.8% annual)

crecimientoSuccessful Strategy translated into market value growth (12/31/2002-04/30/2014)

6

OHL’s Position

Mexico78%

Spain14%

Chile5%

Peru3%

2013 Porfolio: € 51.014 MM

Concessions | Direct Concessions

• OHL Concesiones financially independent from the rest of OHL

• Concessions financed in non-recourse basis and in local currency, with no currency risk

• Preference for majority holdings

• Demonstrated ability to succesfully develop new concessions and crystallize the value

through IPOs, direct disposals of concessions, and asset swaps

• Attractive portfolio of direct concessions (1):

• 11 toll roads (820 Km) , 3 ports, 1 railway and 1 airport

• Young portfolio (toll roads – 24 years remaining average life)

• Interest in entering new geographies such as USA, Canada and Colombia

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Years Remaining(1)

(1) Including new awards in 2014 (Autopista Américo Vespucio in Chile and Autopista Atizapán-Atlacomulco in Mexico)

7

OHL’s Position

Country Concession Status Km /

Operated Infr.

% OHL Traffic Avg / day(1)

/ Passengers year

Years

Remaining

Mexico ConMex

Amozoc – Perote

Puebla

Viaducto Bicentenario

Poetas - Luis Cabrera

Autopista Urbana Norte

Atizapán-Atlacomulco

Total Toll Roads

Toluca Airport

Operation

Operation

Construction

Operation

Operation

Operation

Awarded 2014

Operation

111

123

35

32

7

9

74

391

Commercial Serv.

64%

44%

64%

64%

32%

64%

64%

31%

272.039

28.913

n/a

29.749

28.122

40.120

n/a

398.943

1.088.180

38

20

24

24

29

29

30

42

Spain Euroglosa M45

Autovía Aragón – Tramo 1

Total Toll Roads

Metro Ligero Oeste

Port of Alicante

Port of Sta. Cruz de

Tenerife

Operation

Operation

Operation

Operation

Operation

8

56

64

22 km 2 lines

30 Ha. Dock

15,3 Ha. Dock

100%

95%

51%

100%

65%

74.293

100.002

174.295

5.547.970

201.953/83.241 TEU

24.139 TEU

14

13

23

22

28

Chile Américo Vespucio Oriente

Total Toll Roads

Port of Valparaíso

Awarded 2014

Oper / Constr

9

9

14 Ha. Dock

51%

100%

n/a

n/a

45

30

Peru Autopista del Norte

Total Toll Roads

Operation 356

356

100% 30.531

30.531

20

Total Toll Roads 820 603.769

Concessions | Main Direct Concessions (Figures as of 12/31/13)

(1) Equivalent paying vehicles (except in V. Bicentenario, A. Urbana Norte, Euroglosa 45 and A. Aragón which is used the Average Daily Intensity)

8

OHL’s PositionConstruction | Global Scope and focus on risk management

• 100+ years of experience, leading complex projects worldwide

• Competitive advantages derived from the appropiate geographical diversification and specialisation in

high technological value segments

Markets with Permanent Presence

• Middle East, North Africa and other Latin

American countries

• Selective participation in singular and large

projects

• Support from local partners (occasional basis)

• Focused on civil engineering and non-residential building

• Specialisation in high technological value segments: railways, hospitals and smart-design buildings

• Global management of the excellent human capital through the Centrallized Technical Office

• Preference for design & build projects

• Proyects with positive cash-flow since beginning of work and collections guaranteed

• Underpinned by the solid Balance Sheet of OHL Group and proven ability to structure financings

• Spain, Central & Eastern Europe, USA & Canada,

Mexico, Peru and Chile

• Recurrence and more capillarity in projects

• Management through local subsidiaries

Markets with Occasional Presence

Common Management Criteria

9

OHL’s Position

• Organic growth guaranteed on the back of the important orderbook worthing 36 months of sales

• Orderbook of major international contracts, most of them design & build projects

• 1 to 1.5 years design phase + 2 to 4 years execution period (will take some time in becoming

fully visible across the P&L)

• Steady margins

• € 3 bn new awards in 2013

Construction | Growth and Profitability

Central &

Eastern Europe

28%

USA & Canada

23%

MiddleEast &

N. Africa19%

Spain18%

Others12%

7,2%

9,0% 7,8%

10,0% 9,2% 9,4%

2008 2009 2010 2011 2012 2013

2013 Orderbook: € 8.059,7 MM Construction EBITDA/Sales Margin

10

OHL’s Position

• Developing unique mixed-use and top-quality projects, operated by the most prestigious hotel chains

worldwide

• Mayakoba: Touristic development in Riviera Maya (Mexico) positioned as one of the most

exclusive resorts in the world. Comprising :

• 5 luxury hotels (3 of which are already in operation)

• A golf course, El Camaleón, which made history by hosting the first PGA Tour event

outside the USA

• Canalejas: Landmark Project in Madrid, covering seven historic buildings in Madrid’s city centre,

bordered by Alcalá, Sevilla, Plaza de Canalejas and Carrera de San Jerónimo.

The project will clearly constitute one of Europe’s major luxury destinations, comprising:

• First Four Seasons Hotel in Spain

• Residential area operated by Four Seasons

• An exclusive shopping centre, and

• A parking lot

Other Activities| Developments

11

OHL’s Position

• OHL Industrial:

• Clearly international scope

• Design and construction of large turn-key industrial plants

• Present in among other:

• Oil&Gas

• Petrochemicals

• Power

• Solid handling

• Fire-fighting protection and

• Others

• OHL Services:

• Technical maintenance, cleaning, energy efficiency management and social and health care

• Through its Ingesan subsidiary, it is a leader in the Facilities Management sector

Other Activities | OHL Industrial and OHL Services

12

I. OHL’s Position

II. 2013 Results

III. Good Governance & CSR

IV. Resolutions Proposal

13

Urbana Norte Concession. Mexico

14

Supervía Poetas Concession. Mexico

15

Autovía del Norte Concession. Peru

16

Terminal 2 - Port of Valparaíso Concession. Chile

17

Highway Interchange in Miami. USA.

18

Culver Line Viaduct. New York. USA.

19

Mecca-Medina High-Speed line. Saudi Arabia

20

Modernisation of the railway. Slovak republic

21

CHUM Hospital. Canada

22

Sidra Hospital. Doha. Qatar

23

Jamal Abdul Nasser Viaduct. Kuwait

24

Marmaray Rail Corridor. Turkey

25

Cantábrico Highway. Lindín-Careira. Spain

26

Canalejas Project. Madrid

27

Hydrocarbon Tank Terminal. Algeciras. Spain

28

Biomass Plant. Huelva. Spain

29

R & D

Free - flow toll system . Autopista Urbana Norte. Mexico.Gripper SATOgrab.

Cubipods – Port of Langosteira. La Coruña. Cylindrical parabolic collectors. Thermosolar Plant.Arenales. Seville.

30

2013 ResultsProfit & Loss Account | Key Figures

Sales dropped an 8.6%, despite an increase in both Toll Revenues(1) by 8.7% andInternational Construction by 9.0%

(€ MM) 2013 % 2012 % % Var.

Sales 3,684.2 100.0 4,029.6 100.0 -8.6%

EBITDA 1,215.1 33.0 1,052.9 26.1 +15.4%

Recurrent Net Profit 270.4 7.3 260.1 6.5 +4.0%

(1) Toll Revenues unaffected by: (i) changes in the consolidation method and (ii) construction activity for concessions under the IFRIC 12

Increases in EBITDA and Recurrent Net Profit of 15.4% and 4.0%, respectively

International activity continued to play a leading role within the Group as itaccounts for 75% of Sales and 92% of EBITDA

31

2013 ResultsDebt Structure

86% of the Gross Debt is long-term

Gross Debt (€ MM) 2013 % 2012 % % Var.

Recourse 1,572.6 23.7 1,429.3 26.9 +10.0%

Non-recourse 5,052.9 76.3 3,893.6 73.1 +29.8%

Total 6,625.5 5,322.9 +24.5%

91% of the total Recourse Debt corresponds to Capital Markets and only a 9% is

bank financing

Net Debt (€ MM) 2013 % 2012 % % Var.

Recourse 908.2 16.4 588.8 14.0 +54.2%

Non-recourse 4,633.4 83.6 3,609.0 86.0 +28.4%

Total 5,541.6 4,197.8 +32.0%

Recourse Net Debt / Recourse EBITDA(1) = 2.8x

(1) Recourse EBITDA � € 327 MM (calculated in accordance with the contractual terms)

32

2013 ResultsDebt and Leverage Performance

Notes:

(1) Pro-forma including disposal of Inima

(2) Pro-forma including as Recourse Debt € 400 MM dividend upstreamed from OHL Concessions to OHL Parent Company at the end of 2012, derived from the first phase of the Abertis

Transaction

Recourse Net Debt (€ MM)

730

1.1741.026 989

908

2009 2010 2011 (1) 2012 (2) 2013

2,5x

3,5x

3,0x

2,6x2,8x

2009 2010 2011 (1) 2012 (2) 2013

Recourse Net Debt / Recourse EBITDA

33

2013 ResultsCómodo Perfil de Vencimientos con Recurso 2013E

141

182524

425

300300

2014 2015 2016 2017 2018 2019 2020

Recourse Debt as at 12/31/13 (€ MM) Available Liquidity as at 12/31/13 (€ MM)

664

300

937

2013

￭ Credit Lines & Others (undrawn)

￭ Syndicated Facility (undrawn)

￭ Cash & Equivalents

￭ Credit Lines & Others (drawn)

￭ Euro-Commercial Paper (outstanding amount)

￭ Bonds

￭ Syndicated Facility (undrawn)

Strong and Stable € 1.9 bn Liquidity Position, able to cover 1.2x the

Recourse Indebtedness

Comfortable Recourse Maturity Profile

1.901

34

2013 Results

CONCESSIONS � OHL Concesiones financially and organically independent

� Debt in non-recourse basis and in the same currency as the revenues

CONSTRUCTION � Focused on civil engineering and singular building

� More capillarity in places with permanent presence such as Central &

Eastern Europe, USA and Canada, Mexico , Peru, Chile and Spain

� Singular works in countries such as Saudi Arabia, Turkey or Qatar

� Works in other countries with:

Other Activities� Industrial: Design and construction of turn-key industrial plants

� Services: Presence in the Facilities Management sector

� Developments: Development of singular top-quality projects

� Prudent criteria

� Positive Cash flow since beginning of work

� Collections guaranteed

FINANCIAL � Financial discipline and prudency

� Commitment to recover Investment Grade status

Continuity of the Strategy

35

I. OHL’s Position

II. 2013 Results

III. Good Governance & CSR

IV. Resolutions Proposal

36

Good Governance & CSRValue Creation subject to Sustainability

Enhancement of the Values of Transparency, Responsibility and

Honesty within the Corporate Governance Model of the Group

OHL

Constant updating of the Code

of Ethics adopted in 2010 and

operative Channel for

Complaints

Corporate Social Responsibility

controlled by the Audit,

Compliance and CSR

Committee

Risk and Internal Control, and

Internal Audit Departments

reporting to the Audit,

Compliance and CSR

Committee

Compliance Department

reporting to the Secretary of

the Board of Directors

Committed to compliance with

all applicable regulations and

recommendations on Good

Governance

Continued effort in Research,

Development and Innovation.

Great success in

implementation of the results

achieved

Commitment to Sustainable

Development. Sustainability

Report since 2004 and within the

FTSE4Good Ibex since inception

in 2008

Ongoing commitment to

Training as a lever for

development, especially in the

Occupational Risks Prevention

area

37

Good Governance & CSRGood Governance Best Practices carried out in 2013

• OHL has been recognized by the Spanish Market Regulator (CNMV) among the 5

of the Ibex 35 companies that fully follow the recommendations of the Unified

Code of Good Governance

• Establishment of a Compliance Department to support business development

within a defined level of integrity and compliance with internal rules and

applicable laws for the entire Group:

• Improvement of the Organization and Management Model

• Monitorization of the performance and compliance of the Model and

assessment of breaches

• Improving the Risk Management System of the Group:

• Update existing risk maps and

• Develop the Global Risk Management Policy

38

Good Governance & CSRCSR actions undertaken in 2013

• The Sustainability Report done pursuant to international standard Global

Reporting Initiative (GRI) in its highest application level, “A+”

• Obtention of a score rated “High” in the Annual Report to the Carbon Disclosure

Project, demonstrating commitment towards a low-carbon economy

• Creation of 3,974 net jobs representing a growth of 20.0% over the previous

year (+18.2% in Spain and +21.1% abroad)

• 10.1% Reduction in the Incidence Rate of workplace accidents at the Group level

• 458,025 hours of training in the Group. About 8,000 employees have joined

courses on Group Code of Ethics and Human Rights taught in English, Spanish,

Czech and French

• Among the 1,000 European companies that invest more in R&D, according to the

EU Industrial R&D Investment Scoreboard 2013

39

I. OHL’s Position

II. 2013 Results

III. Good Governance & CSR

IV. Resolutions Proposal

40

Resolutions Proposal

First� Approve the Annual Accounts and the Management Report,

corresponding to the financial year ended 2013, for both Obrascón

Huarte Lain, S.A. and the Consolidated Group

Second� Approve the proposal for distribution of the profits earned in the

financial year 2013

Third� Approve the Board of Directors’ management of the Company during the

financial year 2013

Fourth� Re-appoint the external auditors of the Company and its Consolidated

Group for a period of one year

Fifth � Appointment of a Director of the Company

Sixth � Re-elect a Director of the Company

41

Resolutions Proposal

Seventh� Empower the Company, in accordance with the article 146 of the Capital

Companies Act, to acquire the Company’s own shares, either directly or

by an affiliated company

Eighth� Delegate to the Company Board of Directors as provided for under article

297 of the Spanish Companies Act with powers to increase capital of the

Company once or several times

Ninth

� Delegate to the Board of Directors, with power of substitution, to issue

convertible or non-convertible fixed-income securities, with a limited

maximum amount under the conditions set in the Directors’ Report, with

express attribution to exclude the preferential subscription rights of

shareholders and leaving the existing delegation agreement void

Tenth� Acknowledge the use by the Board of Directors of the power delegated

by the General Meeting of Shareholders, to issue simple non-convertible

debentures or bonds

42

Resolutions Proposal

Eleventh � Annual Report on remuneration of directors for the year 2013

Twelfth � Delegation of powers

Thirteenth � Approve the Minutes of the Ordinary General Meeting of Shareholders