Corporate Profile

Forum Economique Maroc/Portugal, 20 avril 2015 – Lisbonne

Brisa Overview

Strategic Vision

Brisa Overview

Strategic Vision

+ 40 years of experience with proven results delivered

Credentials

4

Leading European Motorway Company

Pioneer in electronic toll collection (ETC)

• 6 concessions in Portugal– Average life of 25 years

– 1,557 km

– 24 motorways

– Market share of 43% (in km)

• International footprint– NWP Concession in Colorado, USA

– Tolling and Mobility Services, Holland

– OMT Services, India

• End to end (full-fledged) offer– World class best practices

– State of the Art Technology

100% private company

Shareholders

5

• Brisa

• CUF

• José de Mello Saúde

José de Mello is one of Portugal's biggest corporate groups, playing a diversified role in the economy. Its competitive position rests on business platforms held by José de Mello, SGPS in:

Arcus Infrastructure Partners is an independent fund specialized in European infrastructures, currently managing investments with an aggregate enterprise value of €12 billion. Arcusaims to deliver attractive returns and yield over the long term through active management of infrastructure assets throughout Europe.

• Efacec

• José de Mello Imobiliária

45%

53%37%

8%

2%TreasuryShares

Free Float (OTC)

Mix of developed and emerging markets

Footprint

6

Complementary business units

Portfolio

7

16%

Brisa

Parent Co

Motorway Concessions

O&M Services

OtherInfrastructures / services

100% 100%

50%

70%

30%

15%

45%

60%

100%

100%

81%

60%

36%

40%40%

100%

1

1. Includes investments in road concessions and car parks in Portugal, Spain, France and Poland

40%

Strong brand equity

Efficiency as a key driver for value creation

8

• Provides Electronic Toll Collection (ETC) services to all Portuguese tolled concessions (Brisa & non Brisa)

• Focus on lowering cost per transaction to concessionaires

3.5 million customers

+600 k transactions per day

• Increase number of transactions benefiting from economies of scale

• Augmented product and service to customers (example: car parks, gas stations, drive-thru)

Via Verde

9

Streamlined Operations

Focus on value creation enhancement

Innovation & Technology

10

• R&D Network: Brisa has developed partnerships with more than 40 institutions and 60 researchers

• Assure the state-of-the art on technological knowledge of ITS and maximize efficiency for Brisa Concessions, growing in selected external markets

Solid financials with resilient cash-flow generation

Financials (Main Concession)

11

EBITDA - Capex

Million euros 2013 2014 ∆

Operating income 439,6 465,5 5.9%

Toll revenues 427.5 451.1 5.5%

Service areas 8.6 8.9 3.7%

Other operating revenues 3.5 5.5 59.1%

Operating expenses -122.7 -123.5 0.7%

Supplies and services -120.2 -120.9 0.6%

Personnel costs -1.4 -1.5 5.3%

Other operating expenses -1.1 -1.1 -0.9%

EBITDA 316.9 342.1 7.9%

EBITDA Margin 72.1% 73.5% 1.4pp

Capex 28.9 26.9 -7%

EBITDA - Capex 288.0 315.2 9.4%

Million euros YE 12 YE 13 ∆ YE 14 ∆

Bonds 1 788 1 408 -380 1 483 +75

EIB 702 663 -39 624 -39

Bank facilities 36 82 +46 52 -30

Total 2 526 2 153 -373 2 159 +6

Cash 310 139 -171 339 +200

Net debt 2 216 2 014 -202 1 820 -194

Debt structure (nominal)

Default level: ˃ 8,0

Trigger/Lock-up level:˃ 6,5 up to 2H2013

˃ 6,25 in 1H2014

Brisa Overview

Strategic Vision

Agenda for growth with a balanced risk approach

1st level objective

Value creation as the key measure to evaluate portfolio evolution

– Optimize current business value creation

– New businesses to increase portfolio’s current profitability

2nd level objective

Growth as the key driver of return to shareholders

– Continuous business model innovation

– Invest in value growth options

13

Portfolio objectives

Strategic vision

Looking further into the future

14

This vision is aligned with the new Mobility Era through being an:

“Delivering efficient mobility for the people”Brisa Vision 2025

Provide customer oriented, innovative and efficient mobility and accessibility solutions through safe, comfortable and eco-efficient transport infrastructures

Be an active partner towards a sustainable transport system, pursuing a highly efficient business and in harmony with stakeholders expectations

CUSTOMER CENTRIC ORGANIZATION

EFFICIENCY-FOCUSED SERVICE PROVIDER

Ambition with a track record of value delivered.

To be continued.