q12026-ferrovialresultsp

Q1 2026 Financial Results 1 P ic tu re : 4 0 7 ET R (C a n a da ) May 7, 2026 Q1 2026 FINANCIAL RESULTS

Q1 2026 Financial Results 2 DISCLAIMER This presentation has been produced by Ferrovial N.V. (the “Company”, “we” or “us” and, together with its subsidiaries, the “Group”) for the sole purpose expressed herein. By accessing this presentation, you acknowledge that you have read and understood the following statements. Neither this presentation nor any of the information contained herein constitute or form part of, and should not be construed as, an offer to purchase, sale or exchange any security, a solicitation of any offer to purchase, sale or exchange any security, or a recommendation or advice regarding any security of the Company. In this presentation, unless otherwise specified, the terms “Ferrovial,” the “Company,” “we,” “us,” and the “Group” refer to Ferrovial N.V., individually or together with its consolidated subsidiaries, as the context may require. Neither this presentation nor the historical performance of the Group’s management team or the Group constitutes a guarantee of the future performance of the Company and there can be no assurance that the Group’s management team will be successful in implementing the investment strategy of the Group. Forward-Looking Statements This presentation contains forward-looking statements. Any express or implied statements contained in this presentation that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding estimates and projections provided by the Company and certain other sources with respect to the Company’s financial position, business strategy, plans, and objectives of management for future operations, dividends, capital structure, as well as statements that include the words “expect,” “aim,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “will”, “should,” “target,” “anticipate” and similar statements of a future or forward-looking nature, or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. Such statements may reflect various assumptions by the Company concerning anticipated results and are subject to significant business, economic and competitive uncertainties and contingencies, and known and unknown risks, many of which are beyond the Company’s control and may be impossible to predict. Any forecast made or contained herein, and actual results, will likely vary and those variations may be material. The Company makes no representation or warranty as to the accuracy or completeness of such statements, expectations, estimates and projections contained in this presentation or that any forecast made or contained herein will be achieved. Risks and uncertainties that could cause actual results to differ include, without limitation: risks related to our diverse geographical operations and business divisions; general economic and political conditions and events and the impact they may have on us, including, but not limited to, impacts on demand or public fund allocation in the industries in which we operate, volatility or increases in inflation rates and rates of interest, exchange rate fluctuations, increased costs and availability of materials, and other ongoing impacts including from, for example, changes in tariff regimes, the Russia/Ukraine conflict, and the Middle East conflict; our legal and regulatory risks given that we operate in highly regulated environments, and the impact of any changes in governmental laws and regulations, including but not limited to tax regimes or regulations; the fact that our business is derived from a small number of major projects; risks related to government contracting; the impact of competitive pressures in our industries, including on bid success and pricing; risks related to our acquisitions, divestments and other strategic transactions that we may undertake; cyber threats or other technology disruptions; our ability accurately to develop estimates or the impact of changes in our underlying assumptions, with respect to project plans, including project timing and budgets, and our ability to meet contractual expectations with respect thereto; the impacts of accidents, disruptions, or other incidents at our project sites and facilities; our ability to obtain adequate financing or access to capital in the future as needed and the impact of reliance on joint venture and partnership arrangements; our reliance on and ability to locate, select, monitor, and manage subcontractors and service providers; the impact of certain swaps and hedging arrangements we enter into from time to time; limitations on our ability to declare and fund future dividends or other distributions, and distribution processes and timelines; our ability to maintain compliance with the continued listing requirements of Euronext Amsterdam, the Nasdaq Global Select Market and the Spanish Stock Exchanges; lawsuits and other claims by third parties or investigations by various regulatory agencies that we may be subject to; our ability to comply with our ESG commitments or other sustainability demands, including changing or conflicting expectations in connection with sustainability and ESG matters; physical and transitional risks in connection with the impacts of climate change; risks related to the adequacy or existence of our insurance coverage and any non-recoverable losses; and the other important factors discussed under the caption “Risk Factors” in our Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) for the fiscal year ended December 31, 2025 which is available on the SEC website at www.sec.gov, as such factors may be updated from time to time in our other filings with the SEC. Any forward-looking statements contained in this presentation speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this presentation, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law. Forward-looking statements in this press release are made pursuant to the safe harbor provisions contained in the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by relevant safe harbor provisions for forward-looking statements (or their equivalent) of any applicable jurisdiction. In addition, certain industry data and information contained in this presentation has been derived from industry or other third- party sources. The Company has not undertaken any independent investigation to confirm the accuracy or completeness of such data and information, some of which may be based on estimates and subjective judgments. Accordingly, the Company makes no representation or warranty as to the accuracy or completeness of such data and information. Other than as specified, the information contained in this presentation has not been audited, reviewed or verified by the external auditor of the Group. The information contained herein should therefore be considered as a whole and in conjunction with all the other publicly available information regarding the Group. Alternative Performance Measures and Non-IFRS Measures In addition to the financial information prepared under the International Financial Reporting Standards (“IFRS”), this presentation may include certain alternative performance measures (“APMs”) as defined in the Guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority on 5 October 2015, and other financial or operational measures that are not presented in accordance with IFRS (collectively, "non-IFRS measures") that differ from financial information presented by the Group in its financial statements and reports containing financial information. The aforementioned non-IFRS measures include “Adjusted EBIT,” “Adjusted EBIT Margin,” “Adjusted EBITDA,” “Adjusted EBITDA Margin,” “Comparable or ‘Like-for-Like’ (‘LfL’) Growth,” “Order Book,” “Consolidated Net Debt,” “Cash flows excluding infrastructure projects (Ex-Infrastructure Cash Flows),” Cash flows from infrastructure projects (Infrastructure Cash Flows),” and “Ex-Infrastructure Liquidity.” These non-IFRS measures are designed to complement and should not be considered superior to measures calculated in accordance with IFRS. Although the aforementioned non-IFRS measures are not measures of operating performance, an alternative to cash flows, or a measure of financial position under IFRS, they are used by the Group’s management to review operating performance and profitability, for decision-making purposes, and to allocate resources. Moreover, some of these non-IFRS measures, such as “Consolidated Net Debt” are used by the Group’s management to explain the evolution of our global indebtedness and to assist our management in making decisions related to our financial structure and they may be, and in some cases are used by analysts and rating agencies to better understand the indebtedness that has recourse to the Group. Non-IFRS measures presented in this presentation are being provided for informative purposes only and should not be construed as investment, financial, or other advice. The Group believes that there are certain non-IFRS measures, which are used by the Group’s management in making financial, operational and planning decisions, which provide useful financial information that should be considered in addition to the financial statements prepared in accordance with the accounting regulations that applies (IFRS EU), in assessing its performance. We believe, these are generally consistent with the main indicators used by the community of analysts and investors in the capital markets, however, they do not have any standardized meaning and are therefore unlikely to be comparable to similarly titled measures presented by other companies. They have not been audited, reviewed or verified by the external auditor of the Group. For further details on the definition, explanation on the use, and reconciliation of non-IFRS measures, please see the section on “Alternative performance measures” in the Company’s Integrated Annual Report (including the Consolidated Financial Statements and Management Report) for the year ended December 31, 2025. Additional Information The Company is subject to the information and reporting requirements of the Securities Exchange Act of 1934, as amended, applicable to foreign private issuers and in accordance therewith is required to file reports and other information with the SEC relating to its business, financial condition, and other matters. The Company's filings can be accessed by visiting EDGAR on the SEC's website at www.sec.gov.

Q1 2026 Financial Results 3 Q1 2026 OVERVIEW Solid growth across all businesses • Highways: North American assets delivered strong revenue growth • Airports: New Terminal One (NTO) construction continued progressing • Construction: Profitability margins remained stable despite increased bidding costs Net debt1 ex-infra projects2: -€1,218M • Construction operating cash flow (ex-tax payments, ex-dividend): €144M • Purchase of treasury shares: -€162M (1) Non-IFRS financial measure. For the definition and reconciliation to the most directly comparable IFRS measure, refer to the Alternative Performance Measures annex of the Q1 2026 Results Report. (2) Consolidated Net Debt of ex-infrastructure project companies. P ic tu re : I- 6 6 ( U SA ) REVENUE €2,098M +10.2% ADJ. EBITDA1 €321M +15.0% ADJ. EBIT1 €198M +10.6% REVENUE & PROFITABILITY FIGURES (LfL VARIATION1 VS. Q1 2025)

Q1 2026 Financial Results 4 Q1 2026 PERFORMANCE vs. Q1 2025 407 ETR EBITDA FUELED BY REVENUE GROWTH AND MOBILITY TRENDS Q1 2026 TRAFFIC (VKTs) & EBITDA PERFORMANCE vs. Q1 2025 (1) At the end of each reporting period, Management prepares an estimate of the Schedule 22 Payment for the calendar year (Schedule 22 Payment Estimate). The Schedule 22 Payment expense for the first quarter of 2026 is determined by allocating the Schedule 22 Payment Estimate for 2026, on the basis of dividing the toll revenues of the first quarter of 2026 over the total estimated toll revenues for 2026. The Schedule 22 Payment expense for each quarter of 2026 will fluctuate due to the seasonal nature of the business. • Toll revenue growth primarily driven by higher toll rates and higher traffic volume • Q1 2026 EBITDA includes a Schedule 22 provision1 (CAD 8.1M vs. CAD 25.9M in Q1 2025). Higher OPEX driven by higher customer operation, highway operations and system operations. • In Q1 2026, traffic growth driven by more driving offers and an increase in mobility from a higher percentage of onsite employees, partially offset by unfavorable winter weather • Q1 2026 traffic impacted by the year-over-year comparison from promotions (3-month promotions in Q1 2026 vs. 1-month (March) in Q1 2025) • Demand segmentation enhancing value for users and maximizing EBITDA growth CAD500MQ2 2026 Dividend announcement: 9.7% 15.7% 1.1% 8.2% 25.4% Traffic EBITDA CAD M Q1 2026 VAR. Toll Revenue 466 22.1% Fee Revenue 24 -15.1% Contract Revenue 2 n.a. Total Revenue 492 20.0% JAN FEB MAR Q1 CAD M Q1 2026 VAR. Traffic (VKT M) 567 8.2% Revenue 492 20.0% EBITDA 403 25.4% EBITDA mg 81.9% Avg revenue per trip (CAD) 18.9 12.4%

Q1 2026 Financial Results 5 P ic : L B J Q1 2026 PERFORMANCE vs. Q1 2025 NTE NTE35W LBJ • Traffic impacted by construction works in the nearby corridors • Traffic impacted by the ongoing Capacity Improvement construction works • The Capacity Improvement project is expected to be completed by the end of 2026 • Positive traffic performance despite negative impacts from: - Increased congestion in an entry/exit point to the MLs, creating bottlenecks - Finalization of capacity restrictions due to construction works on nearby road 121 (1) Non-IFRS financial measure. For the definition and reconciliation to the most directly comparable IFRS measure, refer to the Alternative Performance Measures annex of the Q1 2026 Results Report. DFW MANAGED LANES DOUBLE-DIGIT REVENUE PER TRANSACTION GROWTH ACROSS ALL ASSETS Growth % vs. Q1 2025 REVENUE PER TRANSACTION Soft Cap update in 2026 +2.7% HIGHER REVENUE PER TRANSACTION ACROSS ALL ASSETS, driven by: • Favorable traffic mix supported by higher heavy vehicles volumes and the technology enhancements implemented in 2025, improving vehicle classification • Increased mandatory mode events in NTE & NTE35W vs. Q1 2025 Traffic negatively impacted by adverse weather (mainly January) NTE LBJ NTE35W USD M Q1 2026 VAR. Q1 2026 VAR. Q1 2026 VAR. Transactions (M) 8 -3.6% 11 -1.5% 12 1.0% Revenue/transaction 10.0 18.3% 5.7 11.5% 7.8 17.3% Revenue 84 13.1% 61 9.8% 95 18.3% Adj. EBITDA1 71 11.2% 50 8.9% 76 18.1% Adj. EBITDA mg1 84.9% 82.3% 80.3% Revenue sharing (incl. at Adj. EBITDA level) 2.4 81.1% - 7.5 51.3% 18.3% 11.5% 17.3% NTE LBJ NTE35W

Q1 2026 Financial Results 6 I-77 WEATHER-IMPACTED TRAFFIC, STRONG PRICING (1) Non-IFRS financial measure. For the definition and reconciliation to the most directly comparable IFRS measure, refer to the Alternative Performance Measures annex of the Q1 2026 Results Report. (2) Including Revenue sharing from extended vehicles Q1 2026 PERFORMANCE vs.Q1 2025 • Q1 2026 traffic affected by adverse weather and an exceptional traffic uplift in Q1 2025, when some alternative lanes were still partially closed post-hurricanes. • Adj. EBITDA was negatively impacted by a step-up in the revenue-share band (25% to 50%). This negative impact on EBITDA is largely a first-year effect and is expected to normalize over time as revenues grow within the new band. REVENUE PER TRANSACTION 2.8 3.3 Q1 2025 Q1 2026 +14.2% Q1 2026 vs Q1 2025 I-66 SOLID TRAFFIC & REVENUE GROWTH Q1 2026 PERFORMANCE vs. Q1 2025 REVENUE PER TRANSACTION • Q1 traffic showed strong resilience despite adverse weather, supported by increased mobility across the corridor USD M Q1 2026 VAR. Transactions (M) 8 8.3% Revenue/transaction 8.6 4.9% Revenue 72 13.6% Adj. EBITDA1 58 16.1% Adj. EBITDA mg1 80.6% 8.2 8.6 Q1 2025 Q1 2026 +4.9% Q1 2026 vs Q1 2025 USD M Q1 2026 VAR. Transactions (M) 9 -5.6% Revenue/transaction 3.3 14.2% Revenue 30 7.6% Adj. EBITDA1 15 -11.9% Adj. EBITDA mg1 49.5% Revenue sharing 2 8.0 87.6%

Q1 2026 Financial Results 7 NEW TERMINAL ONE AT JFK TOWARDS OPERATIONAL READINESS DALAMAN OFF-PEAK SEASON DRIVEN BY DOMESTIC TRAFFIC • Domestic traffic offset lower international volumes impacted by Middle East geopolitical challenges reflecting the low-season mix. On a full-year basis, Dalaman remains predominantly international. Peak season started in late March. • NTO keeps progressing facing a crucial year for construction and integration • In terms of schedule, the contractor has communicated an updated target completion date for the first phase of construction of fall 2026 • First set of Operational Readiness Basic Trials started in Q1 2026 • 87% construction progress • Commitments from 30 airlines (21 executed agreements and 9 letters of intent) €64M Pending Investment Expected to be injected in 2026 €978M Total Investment as of 2025 (1) Non-IFRS financial measure. For the definition and reconciliation to the most directly comparable IFRS measure, refer to the Alternative Performance Measures annex of the Q1 2026 Results Report. P ic tu re : N ew T er m in a l O n e, N Y (U SA ) EUR M Q1 2026 VAR. Passengers (M) 0,3 9,8% Revenue 3 2,3% Adj. EBITDA 1 -1 n.s. Adj. EBITDA mg 1 n.s.

Q1 2026 Financial Results 8 CONSTRUCTION STABLE YoY CONSTRUCTION MARGINS WHILE INCREASING BIDDING COSTS HEALTHY ORDER BOOK1 AT ALL –TIME HIGH • €1.3B contracts not included in March 2026 order book (pre-awards or pending financial close) • Breakdown by geography: • Budimex: similar margins year-on-year (6.5% adj. EBIT mg1 vs 6.4% in Q1 2025), with lower production volumes due to adverse weather conditions, which affected all business segments • Webber: increase in production, driving positive operating leverage and higher margins (3.2% Adj. EBIT mg1 in Q1 2026 vs 2.6% in Q1 2025) • Ferrovial Construction: 1.4% adj. EBIT mg1 vs 2.0% in Q1 2025 due to higher investment costs (bidding and IT) to support future growth, with stable revenue levels 8 Q1 2026 PERFORMANCE vs. Q1 2025 €17,555M +0.5% LfL (2) 8 (1) Non-IFRS financial measure. For the definition and reconciliation to the most directly comparable IFRS measure, refer to the Alternative Performance Measures annex of the Q1 2026 Results Report. (2) Order book vs Dec. 2025. P ic tu re : O n ta ri o L in e pr o je ct (C a n a da ) EUR M Q1 2026 Q1 2025 % VAR. % VAR. LfL1 Revenue 1,625 1,584 2.6% 6.9% Adj. EBITDA1 95 87 9.1% 12.2% Adj. EBITDA mg1 5.8% 5.5% Adj. EBIT1 50 52 -4.3% -3.1% Adj. EBIT mg1 3.1% 3.3% 45% 25% 14% 11% 4% North America Poland Spain UK RoW • Construction operating cash flow (ex-tax payments, ex-dividend): €144M OPERATING CASH FLOW

Q1 2026 Financial Results 9 - 2,729 4,416 4,070 8 144 (46) (21) (48) 27 17 (162) 421 6 - 3,197 Dividends from projects Construction Op. Cash Flow (ex-tax payments, ex- dividends) Other cash flows from (used in) operating activities (ex-tax payments) Tax payments Cash flows from (used in) investing activities (ex- Interests received & ex- Divestments) Interest received and other investing activities cash flows Divestments Cash dividend and treasury share purchases Other cash flows from (used in) financing activities Effect of exchange rate on Cash & Cash equivalents Q1 2026 CHANGE IN CONSOLIDATED NET DEBT1 EX-INFRASTRUCTURE PROJECT COMPANIES (€ M) (1) Non-IFRS financial measure. For the definition and reconciliation to the most directly comparable IFRS measure, refer to the Alternative Performance Measures annex of the Q1 2026 Results Report. CASH FLOWS EUR +346 M FINANCING (EUR +264 M)INVESTING (EUR -4 M)OPERATING (EUR +86 M) NET DEBT € -1,341M CHANGES IN DEBT AND OTHER NET DEBT COMPONENTS EUR +468 M FY 2025 Q1 2026 NET DEBT € -1,218M CASH CASH DEBT & OTHERS DEBT & OTHERS

Q1 2026 Financial Results 10 Q&A H 5 P ic tu re : N T E (U SA )

Q1 2026 Financial Results INVESTOR RELATIONS +34 91 586 25 65 +31 207 983 700 ir@ferrovial.com www.ferrovial.com P ic tu re : N T E (U SA )