FOCUSED IN EXECUTION

June 2016

The growth of population, wealth and energy consumption is going to be impressive

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World Energy Outlook 2014, 2012-2025

Population living in cities +22% 56x Istanbul

Population +14% 1.0x Americas

GDP +60% 2.7x USA

Energy consumption +30% 1.5x China

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521

321

281

277

263

183

100

Natural gas

Oil

Renewables

Nuclear

Biofuels

Coal

Hydro

Increase of energy demand 2013-2025, MtoeWorld Energy Outlook 2015

27%

17%

14%

14%

14%

9%

5%

44%

56%

This increase in population and wealth will result in large additional energy needs

Share of growth

Técnicas Reunidas has gained an outstanding reputation in the energy business

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Capacity runs of different refining units built by Técnicas Reunidas 6 mbd

More than the joint consumption of Germany, France and the United Kingdom

Natural gas processing facilities 51 Bcm

Spain gas consumption: 28 Bcm

Power capacity where Técnicas Reunidas has been involved in Engineering and/or Construction

40 GWInstalled capacity in Spain: 105 GW

Técnicas Reunidas is well positioned throughout the energy value chain

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FuelCoalGas

Nuclear

Power generation

Water treatmentDesalination

PortsAirports

Water and Infrastructures

Exploration & Production

Midstream Transformation Delivery

Oil

Natural Gas

Drilling

Gathering

Upgrading

Pipeline

Shipping

Refining

Petrochemicals

Storage

Drilling

Gathering

Separation

Pipeline

Storage

Fractionation

Liquefaction

Petrochemicals

Shipping

Storage

Regasification

Storage

Shipping

Pipeline

Distribution

Fertilizers Pipeline

Production

Production

With a diversified platform by geographies and products that helps to opt for more and more opportunities

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Rest of the World

Asia Pacific

Middle East

Other Europe

Turkey

Russia

North America

Latin America

Infrastructure & Power

Petrochem Refining Upstream

Executed projects 2009-2016

With renowned and recurrent clients, large investors in energy infrastructure

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0

50

100

150

200

250

300

350

400

450

500

196

1

196

6

1970

1974

1978

198

2

198

6

199

0

199

4

199

8

200

2

200

6

2010

2014

Recurrent customersNew customers

49% of recurrence of customers in terms of awarded projects

# of projects

Our current backlog ensures the visibility of our revenues in the next two to three years

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Rest of the World

Asia Pacific

Middle East

Other Europe

Turkey

Russia

North America

Latin America

Petrochemicals Refining Upstream Power & Infra

48% 46%

7%

61%

9%

12%

1Q2016 Backlog €12.0B

A backlog diversified by client and with several large projects in their early stage

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81%

13%

3% 3%

NOC

IOC

UTILITY

OTHER

TYPE OF CLIENT YEAR OF AWARD

8%

53%

30%

8%

1%

2016

2015

2014

2013

Previous

Average age of

backlog1,8 years

We see further opportunities to grow

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Snapshot of our current bidding pipeline

Africa Asia Eurasia Europe Latam M East NoramRefiningPetrochemicalUpstream & GasPowerFertilizers

Most active

The outlook remains attractive, but with temporary difficulties

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Headwinds

�More stringent payment terms due to market scenario

�Strong competitiveness, but rational

�Outside the Middle East:

o Delays in awards in bidding pipeline

o Weaker inflow of opportunities

Backwinds

�Record in backlog: visibility for next two-three years

�Known customers, geographies and technologies

�Strong balance sheet helps to support current environment

�Well positioned for growth in intensive and resilient investment regions (good bidding pipeline)

� New geographies

� Reinforcing our capabilities

� Tested in very different conditions (logistics, weather, labor) and geographies

� Committed team of 8,000+ people

� TR University: ongoing projects ensure skills continuity

� Thorough approach from the outset

� A daily task in every single project

� Market recognition of our execution capabilities

� Our projects are bankable

� Strong balance sheet

� Large bonding lines available

Our strong franchise is helping to move ahead in this stormy environment

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Strength and Resiliency

Diversification

Methodology

Workforce

HSE

Quality

Financials

Surfing the current storm with determination

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� Efficiency and cost control

� Cash discipline: milestone by milestone, project by project

� Strengthening project management procedures and risk identification and management

Wrap-up

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� Energy is a growth business

…and TR is well positioned across the value chain.

� We have a strong reputation in the industry

…and our platform opts for more opportunities.

� We are focused in execute our record backlog

…with known clients, regions and technologies.

� The industry remains attractive, although stormy

…our strong franchise is helping to successfully move forward.

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