March 2019

Investor Presentation

A World of Inspiration

2 Index

01Snapshot

Page 3

04

Appendix

Page 30

02Results Overview

Page 7

03Regional Segments

Page 18

EuropeAfricaLatin 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 butalso 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 theinternationalisation strategy

Leader in Portugal | European Top 30

Market Cap: €533 mn (5th March 2019)

Main Shareholders: Mota Family (65%) / Norges Bank (3,6%) / Mutima Capital (3%) / Cobas (2,08%) / Az Valor (2,04%)

3

Snapshot

6 Index

02Results Overview

Page 7

7 Key Highlights

Record Turnover €2,818 mn

Record backlog€5.5 bn

Resilient EBITDA€409 mn (margin 15%)

Net profit €24 mn

Net debt€953 mn (gearing 2.3x)

Capex€287 mn

338

405 409

2016 2017 2018

2,210

2,5972,818

2016 2017 2018

4.4

5.15.5

Dec.16 Dec.17 Dec.18

Europe Africa Latin America

8

P&L (€ mn)

Turnover reached €2,818 mn with all regionspresenting a positive trend

Strong EBITDA margin of 15%, mainly drivenby Africa an Latin America

Net financial results reflect positive foreximpact

Effective tax rate of 31%

Net income improvement was mainly drivenby businesses without minorities

IAS 29 had a negative impact of €7 mn inEBITDA 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

2018 2017 YoY 2H18 YoY

Turnover 2,818 2,597 8% 1,567 12%

EBITDA 409 405 1% 246 11%

Margin 15% 16% (1 p.p.) 16% (0 p.p.)

EBIT 202 186 9% 112 22%

Margin 7% 7% 0 p.p. 7% 1 p.p.

Net financial results (57) (102) 44% (52) 6%

Associates 3 3 6% 1 (28%)

Net monetary position1 (14) 3 n.m. (14) n.m.

EBT 135 90 50% 62 (61%)

Net income 93 61 52% 52 (139%)

Attributable to:

Non-controlling interests 70 60 17% 35 38%

Group 24 2 n.m. 18 n.m.

8

9

EBITDA with continued growth reaching €409 mn

P&L breakdown (€ mn)

Europe turnover reflects stable activity,notwithstanding lower profitability

Africa 2H18 activity showed a strongacceleration, a trend that is expected tocontinue in 2019

Africa EBITDA margin increased to 21% (up2p.p. YoY) with a balanced contribution fromthe main markets

Turnover in Latin America benefited from goodproject execution pace which led to a doubledigit growth (13% YoY) with increase in EBITDAmargin

2018 2017 YoY 2H18 YoY

Turnover 2,818 2,597 8% 1,567 12%

Europe 856 828 3% 450 1%

Africa 908 860 5% 546 7%

Latin America 1,084 960 13% 597 22%

Other and intercompany (29) (51) 42% (27) 44%

EBITDA 409 405 1% 246 11%

Margin 15% 16% (1 p.p.) 16% (0 p.p.)

Europe 72 141 (49%) 25 (74%)

Margin 8% 17% (9 p.p.) 6% (16 p.p.)

Africa 194 164 18% 111 30%

Margin 21% 19% 2 p.p. 20% 3 p.p.

Latin America 140 109 28% 98 19%

Margin 13% 11% 2 p.p. 16% (0 p.p.)

Other and intercompany 3 (10) n.m. (2) 77%

9

10

Backlog by regionTotal 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

Africa50%

Europe23%

Latin America

27%4,422

5,1385,465

3,779

4,305

4,777

1,7682,046

2,299

2016 2017 2018

Total BacklogE&C BacklogE&C Turnover

E&C backlog by segment

Roads, infrastructures

and others58%

Civil Construction

21%

Oil&Gasand Power

6%

Mining15%

10

11

Major construction projects currently in backlog

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

Project 1 Range (€ mn) Country SegmentExp. 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[ MexicoUrban

Infrastructures2020

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 toreach that goal

Working capital evolution

1 455

1 159

877 953

367 338405 409

4.0x

3,4x

2,2x2,3x

,x

,5x

1,x

1,5x

2,x

2,5x

3,x

3,5x

4,x

4,5x

-200

300

800

1300

1800

2300

2015 2016 2017 2018

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

5740

13

101

21

45

9

Europe Africa Latin America Others

78

186

22

1

8250

101

47

104

50

287

147

2018 2017

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 GrowthE&C Capex E&S Capex1E&C Capex – long term

contracts E&C Capex – long term contracts

13

14

877953

409

22

4157

110

76

178

0

200

400

600

800

1000

1200

Net debt Dec.17 EBITDA Changes inworking capital

Corporate tax Net financials Maintenancecapex

Growth capex(excludes leasing)

Changes in m/lterm & perim.

Net debt Dec.18

Free cash flow (€ mn)

Solid CFFO of €346 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 €346 mn Mainly non-cash forex items(included in net financials)

11

14

15

2.5x 2.5x2.4x

2.1x 2.3x

5.8% 5.6% 5.6%

5.1% 5.0%

Dec15 Dec16 Dec17 Jun18 Dec18

619

190

199

283186 169

112 60

190

373

Liquidityposition

1 year 2 years 3 years 4 years 5 years > 5 years

Already refinanced or to be refinanced shortly

Stable gearing at 2.3x

Net debt1 of €953 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 Revolving1Excluding 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 andfactoring; 3Net debt/EBITDA.

809

Cash&

Cash equiv.

Undrawncreditlines

762

15

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

03Regional Segments

Page 18

EuropeAfricaLatin America

Europe

Portugal

Spain

Poland

Czech Republic

Ireland

United Kingdom

Highlights 2018

06Countries

856M€

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

856

CAGR +1%

802

1,226CAGR +24%

Backlog1 (€ mn)

11172

CAGR -19%

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 of the existinginfrastructure 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 PerspectivesKey figures and Outlook

20

20

Flagship projects - Europe

Rockbuilding, Portugal Nysa bypass, PolandHighway 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

AfricaAngola

Mozambique

Malawi

South Africa

Cape Verde

São Tomé and Príncipe

Zambia

Zimbabwe

Uganda

Rwanda

Tanzania

Guinea Conakry

Cameroon

Ivory Coast

Nigeria

Highlights 2018

15Countries

908M€

Turnover

2,758M€

Backlog

22

Angola31%

Mozambique, Malawi and Ivory Coast

39%

Other30%

Record backlog and positive commercial perspetives

Backlog of €2.8 bn of which 90% in hard currency or hardcurrency 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) contractsassure predictable activity and cash flow

2019 will be the first full year of activity of the waste contractoperation 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

908CAGR +13%

1,706

2,758CAGR +27%

182194

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 astrong 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

08Countries

1,084M€

Turnover

1.481M€

Backlog

26

Strong performance

Backlog of €1.5 bn spread among six countries withMexico and Brazil representing c.55%

Entry in 2018 in the Oil&Gas segment in Brazil withcontracts worth c.€150 mn with Petrobras

Expected higher contribution from Colombia relatedto a significant schools construction contract

Expected monetisation of assets in Mexico relatedwith the CERPI fund

The pipeline is attractive and awards are expected totake place in several countries such as, Brazil andColombia

Energy business expected to continue delivering withstrong profitability

Gran Canal road project, Mexico

26

27

2016 2017 2018

2016 2017 2018

2016 2017 2018

27

Turnover (€ mn)

727

1,084CAGR +22%

1,914

1,481

CAGR -12%

Backlog1 (€ mn)

EBITDA (€ mn) and margin (%)

140

44

CAGR +23%

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 andAPP opportunities

Key-Figures and PerspectivesKey figures and Outlook

Perote-Xalapa Project, MexicoCerro Verde mining, Peru

Carajás railway, Brazil

28

Flagship projects - Latin America

Cardel-Poza Rica highway, MexicoTuxpan-Tampico highway, Mexico

Gran-Canal highway, Mexico

Rehabilitation center, Colombia

BR 381 road, Brazil

Guadalajara light rail, Mexico

Flagship projects

29 Index

04Appendix

Page 30

30

1946

Incorporation

of Mota &

Companhia in

Angola

1952

Completion

of the first

major project:

Luanda

International

Airport in

Angola

1974

Expansion

into Sub-

Saharan

countries

other 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

of 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

operations in

Portugal

1994

Mota &

Companhia

diversifies its

service

offering

2005

Lists on

Euronext

Lisbon’s main

share index

Mota-Engil

SGPS

completes

€110 Mn ABB

2012

Restructures

organisational

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

of 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 (3,6%), Mutima Capital (3%), Cobas (2,08%) and Az Valor (2,04%)

Treasury shares of 2.6% of share capital

Market capitalization: €533 Mn (5 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

No

v/10

Apr

/11

Sep

/11

Feb

/12

Jul/

12

De

c/12

May

/13

Oct

/13

Mar

/14

Aug

/14

Jan

/15

Jun

/15

No

v/15

Apr

/16

Sep

/16

Feb

/17

Jul/

17

De

c/17

May

/18

Oct

/18

Mar

/19

Mota Engil PSI20 Index SXOP Index

0

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

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

Dec.17

Fixed assets 1,298 1,251 1,263 35

Financial investments 294 270 233 61

Long term receivables 117 121 140 (23)

Non-current Assets held for sale (net) 100 92 91 9

Working capital 199 221 177 22

2,009 1,955 1,905 105

Equity 440 490 596 (155)

Provisions 108 95 96 12

Long term payables 508 369 335 172

Net debt 1 953 1,002 877 76

2,009 1,955 1,905 105

33

34

Europe performance breakdown

Key financials (€ mn)

2018 2017 YoY 2H18 YoY

Turnover 856 828 3% 450 1%

E&C 571 538 6% 341 15%

E&S 298 296 1% 145 14%

Other, elim. and interc. (13) (7) (81%) (11) (87%)

EBITDA 72 141 (49%) 25 (74%)

Margin 8% 17% (9 p.p.) 6% (16 p.p.)

E&C (10) 46 n.m. (11) n.m.

Margin (2%) 9% (11 p.p.) (3%) (21 p.p.)

E&S 84 97 (13%) 37 (19%)

Margin 28% 33% (5 p.p.) 26% (10 p.p.)

Other, elim. and interc. (2) (2) (2%) (1) (28%)

34

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 €343 mn

EBITDA €100 mn

18.5 million clients

Milestones

Waste business: relevant and stable contribution from all regions

0

50

100

150

200

250

300

350

400

2014 2015 2016 2017 2018

Turnover (€ mn) EBITDA (€ mn)

8 countries

AngolaBrazilCape VerdeIvory CoastMexicoMozambiqueOmanPortugal

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