APPENDIX

Appendix I- Toll Roads details by asset

TOLL ROADS – GLOBAL CONSOLIDATION

(EUR Million)	TRAFFIC (ADT)			REVENUES			ADJ. EBITDA*			ADJ. EBITDA MARGIN*		NET DEBT 100%
Global consolidation	2023	2022	VAR.	2023	2022	VAR.	2023	2022	VAR.	2023	2022	2023	SHARE
NTE**	40	36	9.0%	267	230	15.9%	236	203	16.4%	88.3%	87.9%	1,144	63.0%
LBJ**	43	40	9.2%	178	151	17.7%	146	121	20.3%	81.9%	80.1%	1,828	54.6%
NTE 35W/*	42	35	20.1%	217	159	35.8%	180	132	36.6%	83.1%	82.6%	1,471	53.7%
I-77**	41	35	18.4%	84	57	46.6%	61	36	67.9%	72.0%	62.9%	183	72.2%
I-66/**	29			155			119			76.9%		1,469	55.7%
TOTAL USA				901	611	47.4%	741	498	48.8%			6,095
Autema	17,270	16,565	4.3%	69	63	9.6%	61	55	11.8%	88.0%	86.3%	588	76.3%
Aravia	38,441	37,810	1.7%	49	34	44.5%	43	28	53.5%	86.4%	81.4%	10	100.0%
TOTAL SPAIN				119	97	21.9%	104	82	25.8%			599
Azores*****	12,140	11,484	5.7%	35	32	10.0%	30	28	9.5%	86.9%	87.2%	0	89.2%
Via Livre				14	17	-16.6%	2	5	-55.2%	15.1%	28.0%	-8	84.0%
TOTAL PORTUGAL				49	49	0.6%	33	33	0.0%			-8
TOTAL HEADQUARTERS				16	23	-32.0%	-73	-62	-18.2%
TOTAL TOLL ROADS				1,085	780	39.0%	799	550	45.2%	73.6%	70.5%	6,686

*Non-IFRS financial measure. For the definition and reconciliation of the most directly comparable IFRS measure, refer to Alternative Performance Measures of the Integrated Annual Report.** Traffic in million of transactions. *** NTE 35W includes contribution from NTE3C (opened to traffic at the end of June 2023). Net debt 100%: includes all 3 segments. ****I-66 Managed Lanes opened its first section to traffic in September 2022, and the full project opened to traffic at the end of November 2022. *****Divestment of Azores completed in December 2023.

TOLL ROADS – EQUITY-ACCOUNTED (FIGURES AT 100%)

(EUR Million)	TRAFFIC (ADT)			REVENUES			EBITDA			EBITDA MARGIN		NET DEBT 100%
Equity accounted	2023	2022	VAR.	2023	2022	VAR.	2023	2022	VAR.	2023	2022	2023	SHARE
407 ETR (VKT million)	2,535	2,213	14.6%	1,025	969	5.8%	880	831	5.8%	85.8%	85.8%	6,480	43.2%
M4	37,436	36,089	3.7%	37	33	12.1%	20	18	10.9%	53.7%	54.3%	43	20.0%
M3	43,789	41,075	6.6%	13	20	-34.7%	4	11	-62.7%	33.1%	58.0%	16	20.0%
A-66 Benavente Zamora				27	25	4.6%	23	22	4.4%	87.2%	87.3%	146	25.0%
Serrano Park				7	7	2.3%	11	4	160.7%	164.2%	64.5%	27	50.0%
EMESA				180	175	3.0%	98	99	-0.4%	54.4%	56.3%	192	10.0%
IRB				828	802	3.2%	406	427	-4.9%	49.1%	53.2%	1,230	24.9%
Toowoomba				26	27	-4.7%	6	6	-2.6%	22.2%	21.7%	211	40.0%
OSARs				25	21	18.3%	4	6	-29.0%	18.1%	30.1%	213	50.0%
Zero ByPass (Bratislava)				39	17	126.5%	25	3	n.s.	63.2%	18.8%	791	35.0%

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