Ferrovial SE

The division focuses on civil engineering, building and industrial construction in the infrastructure space. The division

supports the development of the concession business of Ferrovial and targets improvements in our key operational

processes of design, procurement, and execution.

4.B.2.2. Sustainability Strategy

The Sustainability Strategy of Ferrovial is focused on adding value to our businesses.

▪Fostering productivity, improving efficiency and helping to lower operational costs, anticipating compliance

with future regulations.

▪Strengthening our social license to operate, helping communities to flourish and engaging with local

communities in project development.

▪Meeting customer requirements by fulfilling public procurement requests and supporting compulsory

qualifications and certifications.

▪Enabling access to alternative finance, delivering green and sustainable finance frameworks.

▪ Driving our dedicated response to the expectations of our shareholders and the investment community, as

well as the demands of analysts and indices specialized in ESG issues.

4.B.2.3. Key Milestones achieved during the period 2023-2025:

▪In June 2023 we completed the Merger resulting in our re-domiciliation from Spain to The Netherlands and

gained admission to listing and trading of our ordinary shares in the Spanish Stock Exchanges and Euronext

Amsterdam, in order to strengthen our international profile and align our structure with the business growth

strategy.

▪In June 2023, our Highways’ Business Division increased its managed investment in the U.S. with the

opening of segment 3C of NTE35W, following our strategic plan ofdeveloping complex assets in the United

States.

▪In November 2023, we announced the planned divestment of our stake in the Heathrow airport.

▪Our Energy Business Division was set up in January 2024, merging all energy business activities present

across the Group into a single organizational unit with unified direction.

▪In May 9, we started trading on Nasdaq, a key step in Ferrovial’s internationalization process and plans for

growth in North America.

▪We acquired a 24% stake in IRB Infrastructure Trust (“Private InvIT”) thereby reinforcing our presence in

India, one of Ferrovial’s core markets.

▪In July 2024, we completed the divestment of a 19.75% stake in Heathrow Airports Holdings, retaining a

5.25% stake.

▪In January 2025, the sale of our entire stake in AGS closed.

▪In June 2025, we acquired an additional 5.06% stake in 407 ETR highway to a 48.3% stake, demonstrating

our enduring commitment in this high-quality asset.

▪In July 2025, we sold the remaining 5.25% stake in Heathrow Airports Holdings.

▪In December 2025, Ferrovial was included in the Nasdaq-100 Index, which we believe enhances our visibility

with U.S. and global investors, broadens our shareholder base, and reflects market confidence in our ability to

develop high-value projects.

4.B.2.4. Outlook and Trend Information