APPENDIX

Appendix IV – P&L of Main Infrastructure Assets

TOLL ROADS

407 ETR

(CAD Million)	FY 24	FY 23	VAR.
Revenue	1,705	1,495	14.0 %
EBITDA	1,478	1,284	15.1 %
EBITDA margin	86.7%	85.9%
EBIT	1,372	1,187	15.6 %
EBIT margin	80.4 %	79.4%
Financial results	-429	-412	-4.2 %
Profit before tax	942	775	21.6 %
Corporate income tax	-250	-208	-20.5 %
Net Income	692	567	22.0 %
Contribution to Ferrovial equity accounted result (EUR million)	188	154	22.0 %

NTE

(USD Million)	FY 24	FY 23	VAR.
Revenue	299	289	3.5 %
Adjusted EBITDA*	264	255	3.3 %
Adjusted EBITDA margin*	88.1 %	88.3 %
Adjusted EBIT*	233	227	2.7 %
Adjusted EBIT margin*	77.8 %	78.5 %
Financial results	-57	-50	-14.8 %
Net Income	173	176	-1.7 %
Contribution to Ferrovial**	101	102	-1.7 %

*Non-IFRS financial measure. For the definition and reconciliation to the most comparable IFRS measure, see Alternative Performance Measures in the Integrated Annual Report (page 270).
**Globally consolidated asset, contribution to net profit (EUR million). 62.97% stake.

LBJ

(USD Million)	FY 24	FY 23	VAR.
Revenue	225	193	16.6 %
Adjusted EBITDA*	185	158	17.2 %
Adjusted EBITDA margin*	82.3 %	81.9 %
Adjusted EBIT*	150	130	16.1 %
Adjusted EBIT margin*	67.0 %	67.2 %
Financial results	-82	-80	-2.5 %
Net Income	66	48	36.2 %
Contribution to Ferrovial**	33	24	36.2 %

*Non-IFRS financial measure. For the definition and reconciliation to the most comparable IFRS measure, see Alternative Performance Measures in the Integrated Annual Report (page 270).
**Globally consolidated asset, contribution to net profit (EUR million). 54.60% stake

NTE 35W

(USD Million)	FY 24	FY 23	VAR.
Revenue	320	234	36.8 %
Adjusted EBITDA*	266	195	36.8 %
Adjusted EBITDA margin*	83.1 %	83.1 %
Adjusted EBIT*	226	156	45.3 %
Adjusted EBIT margin*	70.5 %	66.4 %
Financial results	-83	-59	-40.9 %
Net Income	140	96	46.3 %
Contribution to Ferrovial**	70	48	46.3 %

*Non-IFRS financial measure. For the definition and reconciliation to the most comparable IFRS measure, see Alternative Performance Measures in the Integrated Annual Report (page 270).
**Globally consolidated asset, contribution to net profit (EUR million). 53.67% stake.

I-77

(USD Million)	FY 24	FY 23	VAR.
Revenue	107	91	16.9 %
Adjusted EBITDA*	69	66	5.7 %
Adjusted EBITDA margin*	65.1 %	72.0 %
Adjusted EBIT*	59	55	7.9 %
Adjusted EBIT margin*	55.3 %	59.8 %
Financial results	-25	-8	n.s.
Net Income	34	46	-26.6 %
Contribution to Ferrovial**	23	31	-26.6 %

*Non-IFRS financial measure. For the definition and reconciliation to the most comparable IFRS measure, see Alternative Performance Measures in the Integrated Annual Report (page 270).
**Globally consolidated asset, contribution to net profit (EUR million). 72.24% stake.

I-66

(USD Million)	FY 24	FY 23	VAR.
Revenue	247	167	47.3 %
Adjusted EBITDA*	196	129	52.3 %
Adjusted EBITDA margin*	79.5 %	76.9 %
Adjusted EBIT*	116	70	65.0 %
Adjusted EBIT margin*	46.9 %	41.9 %
Financial results	-124	-110	-12.9 %
Net Income	-8	-40	79.4 %
Contribution to Ferrovial**	-4	-20	79.4 %

*Non-IFRS financial measure. For the definition and reconciliation to the most comparable IFRS measure, see Alternative Performance Measures in the Integrated Annual Report (page 270).
**Globally consolidated asset, contribution to net profit (EUR million). 55.704% stake.

IRB

(EUR million)	FY 24	FY 23	VAR.	LfL growth*
Revenue	894	828	7.9 %	9.4 %
Adjusted EBITDA*	449	406	10.5 %	12.0 %
Adjusted EBITDA margin*	50.2 %	49.1 %
Adjusted EBIT*	336	301	11.6 %	13.1 %
Adjusted EBIT margin*	37.5 %	36.3 %
Financial results	-215	-182	-18.5 %	-20.1 %
Equity-accounted affiliates	-33	-24	-35.2 %	-37.1 %
Profit before tax	88	95	-7.8 %	-6.5 %
Corporate income tax	-37	-34	-10.3 %	-11.9 %
Net Income	50	61	-17.7 %	-16.6 %
Contribution to Ferrovial equity accounted result (EUR million)	13	14	-13.6 %	-0.2 %

*Non-IFRS financial measure. For the definition and reconciliation to the most comparable IFRS measure, see Alternative Performance Measures in the Integrated Annual Report (page 270).

IRB Infrastructure Trust (Private InvIT)

(EUR Million)	FY 24
Revenue	243
Adjusted EBITDA*	114
Adjusted EBITDA margin*	46.7 %
Adjusted EBIT*	73
Adjusted EBIT margin*	30.0 %
Financial results	-114
Profit before tax	-41
Corporate income tax	6
Net Income	-35
Contribution to Ferrovial equity accounted result (EUR million)	-8

IRB Infrastructure Trust (Private InvIT)’s consolidated financial statement
includes six months contribution (July to December).
*Non-IFRS financial measure. For the definition and reconciliation to the most comparable IFRS measure, see Alternative Performance Measures in the Integrated Annual Report (page 270).

AIRPORTS

DALAMAN

(EUR million))	FY 24	FY 23	VAR.
Revenue	82	71	16.2 %
Adjusted EBITDA*	64	55	16.6 %
Adjusted EBITDA margin*	78.4 %	78.1 %
Depreciation & impairments	-22	-19	-14.4 %
Adjusted EBIT*	42	36	17.8 %
Adjusted EBIT margin*	51.8 %	51.1 %
Financial results	-25	-34	27.2 %
Profit before tax	17	2	n.s.
Corporate income tax	42	-19	n.s.
Net income	59	-17	n.s.
Contribution to Ferrovial**	35	-10	n.s.

*Non-IFRS financial measure. For the definition and reconciliation to the most comparable IFRS measure, see Alternative Performance Measures in the Integrated Annual Report (page 270).
**Globally consolidated asset, contribution to net profit (EUR million). 60.0% stake

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