On business and financial situation

October 21, 2022

OBRASCON HUARTE LAIN, S.A. (“OHLA” or the “Company”), pursuant to article 228 of the consolidated text of the Spanish Securities Market Act approved by Royal Legislative Decree 4/2015, of 23 October, hereby notifies the Spanish National Securities Market Commission (Comisión Nacional del Mercado de Valores) (“CNMV”) the following

DISCLOSURE OF OTHER RELEVANT INFORMATION

In relation to the announcement published on Wednesday, October 19, and after the recent evolution of OHLA’s share price, it is important to highlight:

  • OHLA continuous with the road map established and announced to the market, maintaining its firm commitment to reducing gross debt, the improvement of the operating business and continuing working towards delivering the guidance announced to the market for the fiscal year 2022.
  • In addition, it is worth recalling that in the past few years OHLA has reduced a 40% its gross debt, from €741Mn in 2018 to €444.2Mn actual nominal value, which means an improvement of its leverage position from 11.3 times (gross financial debt over EBITDA) in 2019, to close to 4 times at the end 2022. This debt reduction process will continue once the reception of the funds from Old War Office.
  • The Group remains committed to a firm rotation plan of the minority stake that OHLA holds in the Montreal University Hospital Center (CHUM) concession and, any proceed received, will be used to reduce the outstanding Notes, which do not mature until March 2025.
    The asset, which has been in operation since 2018, continues to provide the company with recurring annual revenues and the delay in its sale, does not imply any breach of its financial obligations.
  • OHLA also expect to release its results report of the 9M 2022 in the last week of November.

Madrid, October 21st, 2022.