1 Servicios CiudadanosServices for Citizens November 2010

2 FCC Overview 1.1 What is FCC? 1.2 Balanced Business Model 1.3 Consolidated International Presence 1.4 Sound Financial Position Services for Citizens 1

3 #1 in waste management in Austria and Eastern Europe #1 in end-to-end water and waste management in Latin America #1 in environmental services in Spain and #2 in infrastructure construction #2 in infrastructure construction in Austria and a leader in Eastern Europe #1 in Spain's cement market #1 in industrial waste management in Iberia and #2 in the US #1 in waste disposal in the UK Top 10 worldwide (€ 3 billion assets) Citizen Services What is FCC? #2 in water management in Spain and #4 in the world International leading group in Environmental Services and Infrastructures

4 Citizen Services  Value creation supported by balanced infrastructure, services and energy business activities, with a strong long-term demand potential, based on an unstoppable urban growth.  Close to 60% of EBITDA comes from recurrent activities with high visibility on cash flow generation such as environmental services and energy Construction INFRASTRUCTURE 42% Cement EBITDA 1 by Business Area SERVICES & ENERGY 58% EnergyUrban Services Environmental Services Balanced Business Model (1) 9M %15%5%8%45%

5 Citizen Services (1) 9M 2009 International Revenues 1 Domestic 55% International 45%  45% of revenues come from international markets  Mainly from Europe (85%), where FCC has become a leading player in Infrastructures and Environmental Services  International backlog has grown by 17% in the last twelve months 1 Consolidated International Presence Construction 30% Services 12% Cement 2%

6 Infrastructure 24%  Debt structure by area is in line with cash-flow visibility  Strong liquidity position with over 1.2 billion € in available credit lines 3 Financial leverage 1 Equity Net debt 29% 71% 62% 38% Without recourse With recourse Net Debt EBITDA = Debt structure 1 Services & Energy 73% Other 3% 5.74 Operating C.F. Financial Expenses = Services for Citizens Sound Financial Position (1) FY 2009 (2) Net Debt and EBITDA, both with recourse (3) As of 9M10

7 FCC Strategy 2.1 Strategic drivers 2.2 Priorities by area targets 2 Services for Citizens

8 Citizen Services Reinforce Internationalization Process  Infrastructures  Environmental Services & Water  Renewable Energies Increase Organizational Efficiency  Process reengineering  Cost optimization  Synergy Procurement Strategic Drivers Balance Sheet Management  Working capital restraint  Financial leverage reduction  Active management of asset portfolio Growth Profitability Financing Above 60% of sales from abroad in 2013, mostly from key areas 200 Mn€ of additional cost savings as from 2011 Target Net Debt to Ebitda ≤ 3x

9 USA 3% Citizen Services Environmental Services 41% 28% 23% 8%Industrial Waste Water Environment International Environment Spain High component of public service Stable, regulated and long-term contracts High entry barriers Capital intensive projects High operating margins High earnings visibility (backlog) Revenues by region 1 Domestic 64% U.K. 18% Central & Eastern Europe 13% Revenues by type of business 1 Features (1) 9M 2009 (2) Source: Eurostat (3) Source: “Infrastructure to 2030” – OECD Growth in near markets (“buy and build”)  Strengthen position in Recycling area in core EU Markets (Spain, UK and Central Europe): EU foresees 35 % waste generation growth up to 2020, whereas European Waste Directive 2 aims for 50% of urban waste to be recycled by 2020 against current 40%.  Water business expansion based on BOT projects in developing countries. Water infrastructure needs in 2010/2020 will exceed combine investment in transport infrastructure and energy 3.  Gear on our branding quality to raise capital from international banking support (agreement with EBRD and World Bank).

10  A 2-folded strategy: Maintain EU “Home Markets” position plus strong expansion in 5/6 new selected quality jurisdiction. FCC international backlog has increased by over 20% since final Some of the most relevant in-take in non-local markets are as follows:  Algeria: M€  Panama: M€  Extraordinary Investment Plan (PEI) in Spain might partially offset the impact of public demand restrictions for infrastructure  Transport Infrastructure concession unit (50% stake in GVI) to crystallize value in the medium term (consolidation > growth > transfer) Citizen Services Infrastructure (1) 9M 2009 Reinforce internationalization process with focus in 5/6 markets 76% 15% 9%Residential building Non residential building Civil Works Specialized in large infrastructures (civil works) High entry barriers Operating flexibility Strong cash flow generation Backlog covers ≈ 18 months of production Domestic 45% Austria 22% Eastern Europe 13% Other countries 5% Germany 10% Rest of Europe 5% Revenues by region 1 Revenues by type of business 1 Features  UK: 366 M€  Mexico: 266 M€  Rumania: 220 M€

11 Citizen Services Energy Location Installed capacity (MW)* Features Growth through green field projects in markets with higher potential  Organic and self financing growth: Development of 2 thermo-solar projects in 2011/2014 (c40% growth in area revenues). Operating cash flow and project finance debt to back organic growth.  Synergies: Explore green field opportunities in Group diverse locations (UK, USA and Central Europe).  In house think-tank. New lines of activities from Energy Efficiency Services (Efitek), roof solar installation, energy and electric vehicle infrastructure. Wind farms Solar power plants Thermo-solar plants Wind Solar Thermo-solar Under development: MW 20 MW 100 MW MW 20 MW Recurrent revenues with regulated tariffs Capital intensive projects Non recourse financing Natural hedge of energy cost in the Cement business in Spain (≈15% of the production cost) *Not including: – 165 MW of “Energy from Waste” (biomass) installed within the environmental division – 100 MW of wind capacity awarded in Catalonia (Spain) to be installed as from 2013 – 60/80 MW of wind capacity to be installed in FCC’s U.K landfills (1) Source: Eurostat 2009

12 Citizen Services Cement Leading position in Spain Features Maximize cash flow generation  Focus on profitability and reinforcing leading position centered in the Spanish Market.  Enhance competitive leadership in Spain after the hard landing suffered in 2007/2010 (a 20-year low)  Management focused on increasing efficiency improvement and cost optimization  Plan → 71 M€ of recurrent savings in 2009 and goal of > 100 M€ savings in 2010  Alternative fuel replacement → 6% in 2009, up to 30% by 2013 High entry barriers Mature industry Strong cash flow generation Temporary low demand situation Domestic 67% USA 15% Rest 6% Tunisia 10% Region where CPV operates Cement Factories (1) 9M 2009 Revenues by region 1

13 Citizen Services Urban Services (Versia) Domestic 67% Western Europe 26% USA 3% Revenues by type of business 1 Active management of asset portfolio Vehicle Testing 7% Handling 29% Car parks 9% Urban Furniture 14% Maintenance & other 7% Logistics 34%  Growing trend towards logistics and handling services outsourcing  Weakening of traditional mass media in favor of Internet and outdoor publicity (urban furniture)  Vehicle testing, car parks and maintenance businesses linked to long term public service concessions Revenues by region 1 (1) 9M 2009 Others 3%

14  Strict management of balance sheet and cash generation Debt containment Rigorous working capital management Efficiency and cost saving (purchases and structure)  Reinforce our leadership Raise market share with improved profitability Increase presence in international markets  Shareholder value commitment Active management of asset portfolio Sustained Pay-out (2010 GDY over 7%) Consolidate 2010 as year of the cycle change Services for Citizens  To beat 2009 results EBITDA Net profit 2010 Targets

15 FCC Market Valuation 3.1 Valuation multiples 3 Services for Citizens

16 Citizen Services Market valuation FCC Sector Average P/E 2010 (x) EV/EBITDA 2010 (x) FCC Sector Average Gross Dividend Yield 2010 (%) FCC Sector Average P/ Book Value 2010 (x) FCC Sector Average European Infrastructure and Service Sector

17 Services for Citizens We help create eco-efficient communities Thank you Finance Department Investor Relations