OHL CONCESSIONS MARKET AND STRATEGY. >> Activities of the OHL Group

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1 >> Activities of the OHL Group OHL CONCESSIONS MARKET AND STRATEGY OHL Concessions is a leading company in the international market for public-private partnership projects in transportation infrastructure and directs the activity undertaken by the OHL Group in this sector. An expert in promoting greenfield concessions and with broad experience in the financing, development and operation of highways, ports, railroads and airports, the Company currently has double presence in the concession business. On the one hand, as a direct promoter and manager of transportation infrastructure concessions, with controlling shareholdings therein, and, on the other hand, as a reference shareholder and industrial partner of Abertis. This two-fold profile has allowed us to consolidate the transformation process launched in 2012, which has given rise to an asset portfolio that is balanced in all stages of development as well as being geographically diversified, along with a large number of projects under study resulting from ongoing analysis of new business opportunities in high priority markets. Position of OHL Concessions Bicentennial Viaduct Urban Toll Road in Mexico. Financially independent from OHL. Reference shareholder of Abertis, with a share of 18.93%. Expert in promoting and developing greenfield concessions. Financed concessions without recourse and in local currency. Preference for majority shareholdings. Materialization of the generated value in its concessions (public offerings, sale of concessions or asset exchange). Attractive portfolio of directly managed concessions: - 10 highways, three commercial ports, two railroads and one airport. - Young portfolio (23 years of average residual life of highways). - Very low execution risk (13 in operation and 3 in construction). Activity in Mexico, Spain, Peru and Chile. Pre-qualified for projects in the USA, Canada and Colombia. The infrastructures managed and operated directly by OHL Concessions encompass major metropolitan areas as well as industrial, commercial and tourist corridors which are part of the main land, sea and air routes of the countries where the division carries out its activity. 2

2 2013 Annual Report of the OHL Group Today, OHL Concessions has an 18.9% financial participation in Abertis, world leader in freeway management (managing over 7,300 km), key operator in infrastructures and telecommunications services in Spain and a major international player in the satellite transmission sector. Moreover, the development of proprietary technology to ensure control over all key operational components, as well as for activity scheduling and investment planning, has added value to the services we provide to our clients, users and shareholders, thereby making OHL Concessions a far more competitive and efficient company. Within this context, the growth strategy that has been in place since the company was founded, which defines the transport infrastructure sector as the exclusive sphere of operations, along with the consolidation of active markets, the incorporation of new priority markets, strict financial discipline and the generation of resources through the rotation of mature assets, have facilitated the company s positive evolution from day one. This exceptional track record began in 2000, when the company was first launched, as part of the Group s strategy for internationalization and diversification and highlights the company s capacity to develop new markets, thereby making a decisive contribution to the OHL Group s concessionary profile and establishing itself as the core line of business. The positive track record is also reflected in the exceptional evolution of the key figures posted by OHL Concessions in 2013, with the following variations compared to 2012: Concessional sales: million euros, +8.7% Total sales: million euros, -20.0% EBITDA: million euros, +27.0% EBIT: million euros, +31.5% OHL Concessions has double presence in the concession business: as a direct promoter and manager of transportation infrastructure concessions and as a reference shareholder and industrial partner of Abertis The fall in total sales was due to a reduction in freeway construction activity in Mexico and a change to the consolidation method (from the proportional to the equity method) applied to the Poetas Expressway (Mexico). Evolution of OHL Concessions sales and EBITDA (Mn ) 1, % % % Total sales Concessional sales EBITDA 3

3 >> Activities of the OHL Group OHL Concessions within the OHL Group in 2013 Sales EBITDA 14% 78% OHL Concessions Rest of the Group In 2013, Mexico and Spain were the principal markets for OHL Concessions, which also operates in Chile and Peru 22% 86% The increased traffic and toll fee adjustments in concessions being operated in Mexico, where 2013 was the first year in which the Northern Urban Toll Road became fully operational, explain the favorable evolution of OHL Concessions key figures. TRAFFIC INCREASE AND TOLL FEES ADJUSTMENTS Traffic increase Toll fee adjustments From 01/01/13 to 12/31/13 From 01/01/12 to 12/31/12 Var. (%) % Revision (5) Last revision MEXICO Amozoc-Perote Toll Road (1) 28,913 28, % 4.8% January 2013 Mexiquense Beltway (1) 272, , % 9.6% January 2013 Bicentennial Viaduct (2) 29,749 25, % 29.4% January 2013 Northern Urban Toll Road (2) 40,120 12, % 33.59% (6) March 2013 SPAIN M-45 Highway Section 3 (2) 74,293 74, % 2.7% March 2013 M-12 Toll Road (1) 6,395 7, % 2.6% January 2013 A-2 Highway Section 1 (2) 100,002 99, % 5.3% January 2013 West Light Rail Lines (3) 15,200 17, % 2.8% January 2013 Port of Alicante (TMS) (4) 83,243 99, % 2.4% January 2013 PERU Northen Toll Road (1) 30,531 26, % 5.8% (7) June 2013 (1) Equivalent average toll traffic. (2) Average daily traffic (ADT): total km traveled by all users of the freeway divided by the km of freeway being operated. This represents the number of users that have traveled the total number of km of the freeway being operated. (3) Average daily number of travelers. (4) Aggregated number of TEU movements. (5) Average traffic increase applied to all toll stations, resulting from the expected toll fee adjustment in each concession contract. (6) Average toll adjustment increase at peak and off-peak hours. (7) In June, the section of freeway between Casma and Huarmey is widened. The increase shown in the table is the total freeway average for June. In 2013, Mexico and Spain were the principal markets for OHL Concessions, which also operates in Chile and Peru. In April, it was awarded the concession to build and operate the new terminal 2 at the Port of Valparaiso in Chile. 4

4 2013 Annual Report of the OHL Group With this award, the direct-management portfolio at the end of 2013 consisted of 16 primary concessions, encompassing ten toll roads, three commercial ports, two railroad concessions and an airport. Moreover, as of 31 December, the long-term portfolio amounted to over 51 billion, an increase of 13.5% over the previous year. OHL Concessions long-term portfolio (Mn ) 55,000 51, % 44, Geographical source of the long-term portfolio (2013 total: 51,013.5 million euros) 3% 5% The directmanagement portfolio of OHL Concessions at the end of 2013 consisted of 16 primary concessions: ten toll roads, three commercial ports, two railroad concessions and an airport 14% Mexico Spain Chile Peru 78% Years remaining for the primary concessions Mexico Chile Spain Peru (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) A-2 Highway Section 1 2 Móstoles-Navalcarnero Suburban Train 3 M-12 Toll Road 4 M-45 Highway Section 3 5 Northern Toll Road 6 Amozoc-Perote Toll Road 7 Port of Alicante 8 West Light Rail Lines 9 Bicentennial Viaduct 10 Northern Puebla Bypass 11 Port of Santa Cruz de Tenerife 12 Northern Urban Toll Road 13 Poetas Expressway 14 Port of Valparaiso 15 Mexiquense Beltway Toll Road 16 Toluca International Airport 5

5 >> Activities of the OHL Group The high average residual life of directly managed assets, the share in the capital of Albertis and the systematic study of new projects provide a horizon of long-term stability and guarantee the growth of OHL Concessions as well as the continuity of OHL s strategy as an international group specializing in concessions and construction. INFRASTRUCTURES MANAGED BY OHL CONCESSIONS HIGHWAYS 2013 was the first year that the Northern Urban Toll Road in Mexico was fully operational. Toll Road / Concession company Length (km) OHL participation (%) SPAIN 74 - M-45 Highway Section 3 Euroglosa 45 C.C.A. Madrid, S.A M-12 Toll Road Autopista Eje Aeropuerto C.E.S.A A-2 Highway Section 1 Autovía de Aragón Tramo 1, S.A MEXICO Mexiquense Beltway Concesionaria Mexiquense, S.A. de C.V Bicentennial Viaduct Viaducto Bicentenario, S.A. de C.V Amozoc-Perote Toll Road Grupo Autopistas Nacionales, S.A Northern Puebla Bypass Autovías Concesionadas OHL, S.A. de C.V Poetas Expressway Controladora Vía Rápida Poetas, S.A de C.V Northern Urban Toll Road Autopista Urbana Norte, S.A. de C.V PERU Northern Toll Road Autopista del Norte, S.A.C TOTAL OHL CONCESSIONS Toll roads represent OHL Concessions main line of activity, accounting for 67.4% of the company s capital investment and 82.4% of its long-term portfolio. In 2013, the opening of the last sections of the Poetas Expressway (Western Urban Toll Road) in the Distrito Federal region meant that nine of the ten toll roads under concession are now being operated. The average daily traffic (toll vehicles) throughout the year rose by 7.1% compared to 2012, mainly due to the fact that 2013 was the first year that the Northern Urban Toll Road (Mexico) was 100% operational, after inaugurating the last two sections in October and December

6 2013 Annual Report of the OHL Group COMMERCIAL PORTS Surface area (hectares) OHL participation (%) SPAIN Port of Alicante Terminales Marítimas del Sureste, S.A Port of Tenerife Terminal de Contenedores de Tenerife, S.A CHILE Port of Valparaiso Terminal Cerros de Valparaíso, S.A In 2013, OHL Concessions boosted its activity in the commercial ports sector when it was awarded the concession for the new Terminal 2 at the Port of Valparaiso in Chile. AIRPORTS Toluca International Airport (Mexico) Administradora Mexiquense del Aeropuerto Internacional de Toluca, S.A. Services under concession Complementary and commercial airport services OHL participation (%) 31.2 TMS Terminal at the Port of Alicante, Spain. The commercial activity undertaken by Toluca International Airport and the incorporation of new flights and airlines in 2013 led to a 22% rise in annual passenger traffic. RAILROADS Longitud (km) Participación de OHL ( %) SPAIN West Light Rail Lines Metro Ligero Oeste, S.A Móstoles-Navalcarnero Suburban Train Cercanías Móstoles Navalcarnero, S.A Toluca International Airport, Mexico. The two public transportation networks managed by Metro Ligero Oeste have seen a fall in the number of passengers, serving a total of 5,547,866 passengers in West Light Rail line, Madrid, Spain. 7

7 >> Activities of the OHL Group KEY ACTIVITIES NEW CONTRACT AWARDS CHILE OHL Concessions has strengthened its operations in Chile by way of three new concessions one year after having sold its mature assets in the country. Terminal Cerros de Valparaíso In April, the Empresa Portuaria de Valparaíso (EPV) awarded OHL Concessions the concession contract to operate the new Terminal 2 at the Port of Valparaiso for a 30-year period and at a total capital investment of 432 million. The key features of this infrastructure include: A berthing line of 725 m (container terminal) plus a second of 550 m (general merchandise), having a depth of 16 m and the capacity to serve approximate annual traffic of 1,000,000 TEU and 1,250,000 tons of general cargo. The new terminal has been designed to double the port s current capacity and will be able to operate two super-post panamax ships simultaneously, as well as having a further two berths for general cargo. EPV and Terminal Cerros de Valparaíso (TCVAL) signed the concession contract on 8 July 2013 at a ceremony presided over by Sebastián Piñera, the president of Chile, accompanied by Pedro Pablo Errázuriz, the Minister of Transport and Telecommunications, Juan Luis Osuna, the CEO of OHL Concessions and Chairman of the concession company TCVAL, and Mikel Uriarte, and the Chairman of EPV. Chile is a key player in terms of port connectivity for South America and the new Terminal 2 paves the way for an expansion project that will cover the country s maritime transit needs for the next 15 years. Concesión Vial Puente Industrial Image of Terminal 2 of the Port of Valparaiso in Chile. In December, Chile s Ministry of Public Works published the results of its call for tender to design, build, finance, operate and maintain the toll road known as Concesión Vial Puente Industrial. OHL Concessions submitted the best economic and technical bid for the project and, at the end of the year, the administrative procedures to formalize the contract were underway. 8

8 2013 Annual Report of the OHL Group The concession period runs for 38 years and the scheduled investment amounts to 145 million. This toll road will be 6.5 km long and have two lanes in each direction. The main aspect of the project involves building a new 2.5-km Industrial Bridge over the River Biobio. The highway will be operated under a free-flow toll system that has been developed using OHL Concession s own technology and which is compatible with the electronic toll system currently in use on Chile s highways. The highway is located in the Concepción province, one of four that make up the area known as VIII Región de Biobío. Lying in the central/southern region of the country, it is one of Chile s most important industrial areas, especially the fishing, forestry, steel and manufacturing industries. Vespucio Oriente Toll Road Following the close of the financial year, on 29 January 2014 the Ministry of Public Works awarded OHL Concessions and Sacyr Concessions the concession contract to build and operate the Américo Vespucio Oriente (AVO) urban highway in Santiago de Chile, at an investment of 710 million (US$970 million). The project has a variable concession period (maximum of 45 years) and involves building and operating a 9.3-km urban highway, most of which will have three lanes in each direction. It will run through five districts (La Reina, Las Condes, Vitacura, Recoleta and Huechuraba) and the key works to be undertaken include a tunnel under the Cerro San Cristóbal hill and the River Mapocho, upgrading of the existing surface roadway at La Pirámide and two underground lanes from the southern side of the Puente Centenario to Príncipe de Gales. OHL Concessions has strengthened its operations in Chile by way of three new concessions one year after having sold its mature assets in the country This highway will help shorten travel time for commuters in the eastern part of Chile s capital city while improving the level of service of the major road network already in place, which currently bears heavy traffic congestion. FINANCIAL OPERATIONS Participation in Abertis A significant event in 2013 was the increase in our stake in Abertis. In March, OHL Concessions full subsidiary OHL Emisiones purchased an additional 3% of Abertis from La Caixa. This transaction, in addition to other smaller market purchases, has risen OHL s stake in Abertis to 18.93%. This increase has allowed OHL to boost its stake in 9

9 >> Activities of the OHL Group Abertis, thereby consolidating its position as the second leading shareholder while underlining its clear commitment to remaining in the stock. All participation in Abertis forms the security for the non-recourse credit agreement (with the Abertis shares being the only required security) obtained in December 2012, which currently amounts to billion and matures in First operation in the capital market For OHL México, 2013 has been a year of transformation in terms of its financial structure, due to two major operations: capital increase of OHL México and long-term In April 2013, OHL Concessions, by way of its 100% subsidiary OHL Investments, conducted its first operation on the capital markets: an issue of bonds exchangeable for OHL Mexico shares for a sum of 300 million, with a maturity of 5 years and quoted in Frankfurt. At the time of the exchange, OHL Concessions will be able to decide whether to settle the bond issue through shares, cash or a combination thereof. This issue was extended in October by a further 100 million. This meant the total amount issued rose to 400 million and 16.99% of OHL México has been used as security, whereby the bonds that can be exchanged for shares in the aforementioned subsidiary represent approximately 8.49% of its capital. OHL Concessions credit agreements In late September, OHL Concessions entered into a Peso-denominated credit agreement for a sum equivalent to 300 million, for three years and with 21.9% of OHL México shares as security. MExico For OHL México, 2013 has been a year of transformation in terms of its financial structure, due to two major operations. Capital increase of OHL México In June, OHL México successfully completed a (100% primary) capital increase for a total amount of 6,942.5 million Mexican pesos ( 415 million), through the issue of 239,397,167 new shares. As a result, the OHL Group s participation in this subsidiary now stands at 63.64% of its capital. Through this operation, OHL México has strengthened its balance and afforded its financial structure greater flexibility at a key moment for the sector due to the good outlook for investment in Mexico s existing transport infrastructures. 10

10 2013 Annual Report of the OHL Group Long-term refinancing of Conmex On 18 December, Concesionaria Mexiquense (Conmex), subsidiary of OHL México in charge of the Mexiquense Beltway toll road, refinanced its debt. The comprehensive refinancing of Conmex, OHL México s most important asset, to the sum of approximately 17.3 billion Mexican pesos, was undertaken through a combination of financial instruments (capital markets and bank financing) and completed in a single act with a 100% Goldman Sachs guarantee. This operation has extended the average maturity of Conmex financing from 5 to 23 years as well as substantially improving financial costs in comparable terms. Moreover, it has turned Conmex into an investment grade asset and a major source of funds for OHL México. CONSTRUCTION, IMPROVEMENT WORKS AND NEW OPERATIONS CHILE Terminal Cerros de Valparaíso Following the July signing of the concession contract for the new Terminal 2 at the Port of Valparaíso, on 16 December, Empresa Portuaria de Valparaíso handed over control of the terminal to Terminal Cerros de Valparaíso (TCVAL), marking the launch of port operations for TCVAL. The handing over of Espigón dock allowed TCVAL to begin operating mooring points 6, 7 and 8 at the Port of Valparaiso, thereby ensuring the continuity of its activity and the competitiveness of the terminal during the busiest periods: the 2014 fruit and vegetable season and cruise ship traffic, as well as services rendered to all remaining vessels. in addition to the setting up of a professional supervision team, the measures taken to launch port activities included the incorporation of three new Reach Stacker cranes and, in accordance with strict environmental parameters, the purchase of a Green Range Gottwald mobile crane, which set sail for Chile on 5 December from Rotterdam. The Gottwald crane is equipped to meet the highest acoustic standards and has electrical grounding so that CO 2 emissions are kept to a minimum during an emergency situation. Mexiquense Beltway. 11

11 >> Activities of the OHL Group SPAIN Terminal de Contenedores de Tenerife On 12 June, Terminal de Contenedores de Tenerife (TCT), the company awarded the concession for the new container terminal at the East Dock in the Port of Santa Cruz de Tenerife in 2012, formally launched its operations. In 2013, TCT completed the first phase of investments in the container terminal. It has put into operation a surface area of 52,000 m² for storage and maintenance purposes, encompassing docking bridges for up to 528 reefers, 12,000 m² of access and control roads and 6,000 m² for parking and offices. Furthermore, an 800 m², three-story office building was completed in December. The terminal has 700 m of mooring with depths in excess of 16 m as well as an adjoining area of 35,000 m² for operational purposes. The facility incorporates a computerized system with fiber optic and wi-fi networks for real-time GPS container positioning, automatic control of access points by means of cameras and OCR equipment with automatic photographic recording of incoming/outgoing containers by land or sea, and web-based customer notification management. It is worth noting that investments in 2013 culminated in the execution of an innovative ro-ro traffic ramp. Site limitations prevented the installation of conventional models, which take up water surface or reduce the available mooring space. Therefore, it was decided to design and build a folding, articulated ramp measuring 20 x 25 m and weighing 100 tons with a service load of 180 tons. Facilities of Terminal de Contenedores de Tenerife, Spain. In 2014, the 150,000 m² outdoor storage area will be completed, a sixth transtainer will arrive and a reefer monitoring system will be commissioned. Due to its strategic location at the crossroads of Europe, America and Africa, and as a supply base in the Atlantic Ocean, Santa Cruz de Tenerife can boost the growth potential of the Spanish port sector through the development of a benchmark international logistic hub. MEXICO Poetas Expressway On 22 July, OHL Mexico inaugurated the last section of the Poetas Expressway: the Luis Cabrera Overhead Viaduct. At two kilometers in length, it completes the south-west axis of the urban toll road system promoted by the regional Distrito Federal government. It came into operation after a brief commissioning period and now connects the highway 12

12 2013 Annual Report of the OHL Group to the second level of the southern ring-road, providing local traffic with an efficient solution for both integration and mobility. The infrastructure shortens the journey between Luis Cabrera and Santa Fe by 70%, and the increase in average daily traffic since operations were launched is proof of its success. Furthermore, the gradual incorporation of express routes for public transportation will benefit the thousands of commuters who travel from the south side to the east side of the city every day. The Poetas Expressway, also known as the West Urban Highway, is seven kilometers long and has five kilometers of supplementary intersections and road adaptations. It has been designed to respect the La Loma nature reserve and the environmental value of Tarango, as well as soil conservation of nearby ravines, along with other scheduled short and long-term activities aimed at reforestation and minimizing environmental impact. PERU Autopista del Norte On 30 May 2013, Autopista del Norte (Aunor) officially opened the 70-km Casmato-Huarmey section 3 of Road Network No. 4. This represented a milestone in the development of the concession section of the North Pan American Highway, thereby completing the first stage of the road-widening project scheduled for the concession and overcoming major challenges in its execution, such as land availability, eliminating fiber optic-related interference and the completion of studies regarding the La Virgen archeological site. The official opening was presided over by the president of the Republic of Peru, Ollanta Humala, accompanied by the Minister of Transport and Telecommunications, Carlos Paredes, the Chairman of OHL in Peru, Ricardo Vega, and the General Manager of Aunor, Jaime Crosby. Poetas Expressway, the last section of which was commissioned in July In 2013, the company also completed the construction and commissioning of the new Huarmey toll station at KP of Road Network No. 4. The new toll station incorporates the unit s offices and control center and has six lanes (three for each direction), two of which are of standard width and the third is reserved for vehicles carrying special loads or of exceptional size. Huarmey toll station is equipped with the modern Standard Toll System, a smart system for controlling traffic and collecting tolls. It has been developed by OHL Concessions and affords speed, security and fluidity to the entire traffic and collection process. LED lighting has been installed to improve energy efficiency and protect the environment. 13

13 >> Activities of the OHL Group Through its subsidiary Tráfico y Transporte Sistemas, OHL Concessions provides integral services for the operation and control of transport infrastructure. TRÁFICO Y TRANSPORTE SISTEMAS In 2013, the subsidiary Tráfico y Transporte Sistemas (TTS) enhanced its services and products portfolio by incorporating new developments and diversifying its activities. During its first operational year, TTS focused on branding, strengthening the newlyrecruited workforce and its first forays into the market. Commercial activity undertaken throughout 2013, carried out from the standpoint of a strategic partner and ally of public agencies, investment funds and large concession groups, has yielded extremely positive growth prospects. The integrated operation and maintenance services for transport infrastructure are offered in various formats, such as consultancy, supervision and coordination, integrated management and technological transfer in all phases of the concession contract, thus ensuring appropriate risk management and control over all key operational elements, as well as activity scheduling and investment planning. The solutions provided for operation and control have been developed through OHL Concession s management experience gained over more than ten years as an industry leader and have been placed at the disposal of new clients, for whom TTS brings into play its considerable expertise as a large operator of infrastructure concessions and developer of cutting-edge technological solutions. STUDIES AND PRE-QUALIFICATIONS In 2013, OHL Concessions has undertaken an intense development of its concession business, which has generated a extensive portfolio of projects under study, for 50% of which final bid presentations are due to take place in

14 2013 Annual Report of the OHL Group Most of the bids, which focus on both consolidating and entering new markets, involve greenfield projects that are put up for tender under the DFBOM category (Design, Finance, Build, Operate and Maintain). 82% focus on the toll road sector, 16% on railroads and the remaining 2% on airports. COLOMBIA The Colombian government, through the fourth generation program of road concessions promoted by the Agencia Nacional de Infraestructura de Colombia (ANI), has launched a major highway infrastructure development program aimed at improving communications between the country s main production and export centers. Within this context and as part of the calls for tender of the groups Victorias Tempranas and Autopistas para la Prosperidad, OHL Concessions pre-qualified for 13 projects, involving 1,950 km and a contract amount of 9 billion. In 2013, OHL Concessions has undertaken an intense development of its concession business, which has generated an extensive portfolio of projects under study or prequalifications in Colombia, US and Canada OHL CONCESSIONS PRE-QUALIFICATIONS IN COLOMBIA Toll Road Projects SPAIN Girardot-Honda-Puerto Salgar North Connection Toll Road Pacific Toll Road 1 Pacific Toll Road 2 Cundinamarca Perimeter Corridor River Magdalena Toll Road 2 Cartagena-Barranquilla-Malambo Actions Upgrading and rehabilitation of 200 km and construction of 13 km, including two bridges over the River Magdalena Construction of 63 km and upgrading of 82 km Construction of 49 km of two-lane highway, 20 double bridges and 2 double tunnels: Sinifaná (1.6 km) and Amagá (4.1 km) Operation of 51 existing kilometers and construction of 44 km of new road, including the Mulatos double tunnel (2.5 km) Upgrading of 98 km (including the construction of 37 bridges) and rehabilitation of 55 km Construction of 87 km and rehabilitation of 57 km Construction of 40 km, upgrading and rehabilitation of 82 km and construction of two viaducts Estimated contract amount ( Mn) >> 15

15 >> Activities of the OHL Group >> Mulaló-Loboguerrero-Cali Rumichaca-Pasto Villavicencio-Yopal Santana-Mocoa-Neiva Popayán-Santander de Quilichao Construction of 32 km of new roads, 37 bridges and 10 tunnels (12.2 km in all, including C. Gallo, 3.2 km, and Loboguerrro, 5.5 km) Widening and upgrading of the 80-km road between Pasto and the Ecuadorian border Upgrading of the 260-km section between Villavicencio and Yopal, one of the main connection routes to Venezuela Rehabilitation of the existing roads and construction and widening of various sections connecting the southern and central areas of the country. Highway of 418 km Widening and upgrading to shorten journey times between Cali and the Ecuadorian border. 76 km in length ,000 Ocean Toll Road 2 Upgrading and rehabilitation of 137 km UNITED STATES Interstate 4 (I-4), Orlando OHL Concessions forms part of one of four consortiums short-listed by the Florida Department of Transportation (FDOT) to design, build, finance, operate and maintain a section of the I-4 in Orlando, a project based on managed lanes. The 34-km section runs between the I-4 intersections with Kirkman Road, in Orange County, and the SR 434, in Seminole County. Making use of the median strip of the highway, four managed lanes will be built (two in each direction). Estimated investment amounts to some US$ 2.5 billion. This highway runs through the city of Orlando from east to west. The concession holder will have to design, build, operate and maintain the four managed lanes over a forty-year period, as well as operate and maintain the six existing non-toll lanes on this section of the I-4. The contract does not include the collecting of tolls, which will be handled by Florida s Turnpike Enterprise. The concessionaire will receive an availability payment for all its actions. 16

16 2013 Annual Report of the OHL Group CANADA Eglinton Crosstown LRT Project On 20 December 2013, Metrolinx and Infrastructure Ontario published the prequalified consortiums for the light rail project which crosses the city of Toronto. The Crosstown Transit Partners (CTP) consortium, in which OHL Concessions is participating in conjunction with Fengate Capital Management, STRABAG, Bechtel Development Company and Obayashi Canada Holding, is one of the two short-listed group. The bid must be presented in The Eglinton Crosstown LRT project is a 19-km corridor running from east to west along Eglinton Avenue, between Mount Dennis (Weston Road) and Kennedy Station. It includes an underground section of over 10 km in length and 25 stations that will link up to different urban bus routes, three subway stations and various rail lines and suburban bus services. The concession period will run for 30 years and the scheduled investment exceeds C$5 billion. DIVESTMENTS Sale of Ezeiza-Cañuelas Highway On November , the OHL Group sold the Ezeiza-Cañuelas Highway (Aecsa) concession in Argentina, in which it had a share of 89.1%, to Esuvial, a company pertaining to the CPC group. The operation falls within the framework of the mature asset rotation strategy defined by OHL Concessions. The first 20 years of this concession had already expired and it will end in March Aecsa represented various milestones within the company. Argentina was where the Group launched its toll road concession business when, in 1993, Huarte was awarded the so-called Acceso Ricchieri, which was part of the access network for the city of Buenos Aires and put out to tender by the government. The infrastructure construction process, which fell within the framework of the Green Route design, incorporated an innovative vision combining nature areas and recreational areas that involved reforestation of the infrastructure with over 74,000 species of plants. The infrastructure operation also posed major challenges with the incorporation of the Ricchieri toll station, one of the largest in Latin America, with 40 lanes and average daily traffic of over 150,000 equivalent vehicles. 17