#1K12MB BARBERE STRABAG SE INVESTOR PRESENTATION JANUARY 2023 valus STRABAG SOCIETAS EUROPAEA#2DISCLAIMER This presentation is made by STRABAG SE (the "Company") solely for use at investor meetings and is furnished to you solely for your information. This presentation speaks as of January 2023. The facts and information contained herein might be subject to revision in the future. Neither the delivery of this presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date. None of the Company or any of its parents or subsidiaries or any of such person's directors, officers, employees or advisors nor any other person (i) accepts any obligation to update any information contained herein or to adjust it to future events or developments or (ii) makes any representation or warranty, express or implied, as to, and no reliance should be placed on, the accuracy or completeness of the information contained in this presentation. None of the Company or any of its parents or subsidiaries or any of their directors, officers, employees and advisors nor any other person shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, directly or indirectly, from any use of this presentation. The same applies to information contained in other material made available at the meeting. This document is selective in nature and is intended to provide an introduction to, and overview of, the business of the Company. Where any information and statistics are quoted from any external source, such information or statistics should not be interpreted as having been adopted or endorsed by the Company as being accurate. This presentation contains forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which the Company operates. These statements generally are identified by words such as "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. The forward-looking statements, including but not limited to assumptions, opinions and views of the Company or information from third party sources, contained in this presentation are based on current plans, estimates, assumptions and projections and involve uncertainties and risks. Various factors could cause actual future results, performance or events to differ materially from those described in these statements. The Company does not represent or guarantee that the assumptions underlying such forward-looking statements are free from errors nor do they accept any responsibility for the future accuracy of the opinions expressed in this presentation. No obligation is assumed to update any forward-looking statements. By accepting this presentation you acknowledge that you will be solely responsible for your own assessment of the market and of the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the Company's business. 2 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#33 STRA 1 STRABAG AT A GLANCE 2 GLOBAL TRENDS 4 FINANCIAL PERFORMANCE Investor Presentation January 2023 IMPACTING THE CONSTRUCTION INDUSTRY SOLA RABAG LO 5 APPENDIX STP W 3 THE STRABAG STRATEGY & INVESTMENT PROPOSITION STRABAG SOCIETAS EUROPAEA#41 STRABAG AT A GLANCE STRA STRABAG SOCIETAS EUROPAEA#5STRABAG AT A GLANCE FACTS & FIGURES ⚫ Output volume 2021: € 16.1 billion • Net income 2021: € 596 million ⚫ 73,606 employees • >700 locations in more than 80 countries • Highly innovative: Central Technical Division with over 1,000 engineers, TPA (Quality & Innovation) with about 1,000 people and SID (Innovation & Digitalisation) with around 300 people ⚫ Equity ratio: >30% • Investment grade rating by S&P: BBB, outlook stable • Strong brands: STRABAG & ZÜBLIN OUTPUT VOLUME BY REGION (2021) Rest of world 5% Rest of Europe 8% CEE 24% Austria 17% 5 Investor Presentation January 2023 Germany 46% STRONG MARKETS Colombia Chile #1 #2 #2 #1 #3 #1 #1 Oman Abu Dhabi Qatar STRABAG SOCIETAS EUROPAEA#6OUR STRATEGY "STRABAG is a European-based technology group for construction services, a leader in innovation, resourcefulness and financial strength. Our services span all areas of the construction industry and cover the entire construction value chain. With a special focus on sustainability, innovation and risk management, we create added value for our clients by integrating the most diverse services: We bring together people, materials and machinery at the right place and at the right time in order to realise even complex construction projects – on schedule, of the highest quality and at the best price. The hard work and dedication of our approximately 74,000 employees allow us to generate an annual output volume of around € 16 billion. At the same time, a dense network of numerous subsidiaries in many European countries and on other continents is helping to expand our area of operation far beyond the borders of Austria and Germany." - STRABAG 1 2 3 TEAMS WORK. Sustainable Profit Growth with a Reliable Dividend Resourcefulness, Recyclability, Construction Life Cycle Technology, Innovation and Digitalisation Flexible Business Model 4 Supported by Strong 5 Risk Management Financial Strength as a Competitive Advantage 6 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#7LARGEST PROJECTS IN PROGRESS NO SPECIFIC EXPOSURE TO ANY LARGE PROJECT ORDER BACKLOG AS % OF TOTAL ORDER COUNTRY PROJECT IN ЄM BACKLOG STRABAG United Kingdom HS2 high-speed rail line 1,367 6.1 United Kingdom Woodsmith Project 799 3.6 Germany US hospital, Weilerbach 645 2.9 Alto Maipo power plant Germany Central Business Tower 462 2.1 Canada Scarborough Subway Extension Line 2 457 2.0 Schallschutzwand ustraßen Landsberger Straße Baustraßenunterführung Germany PPP A49 motorway 318 1.4 Stuttgart 21, underground railway Germany station 238 1.1 Hungary Railway line Békéscsaba - Lökösháza 228 1.0 Austria U2 underground line, sections 17-21 213 1.0 Germany EDGE East Side 212 0.9 Second core rapid transit route Munich Image credits: Deutsche Bahn AG / Fritz Stoiber Productions GmbH As of 31 December 2021 7 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#8FLAGSHIP PROJECTS - CORE MARKETS Picture: ion42/FAIR FAIR-GERMANY Building of a Facility for Antiproton and lon Research Size: € 220 million Project schedule: 2020-2023 Project scope: Underground circular accelerator with a circumference of 1.1 km BRENNER BASE TUNNEL - AUSTRIA Building of a twin-tube rail tunnel between Tulfes-Pfons Size: € 380 million (=51% share) Project schedule: 2014-2019 Project scope: 38 km twin-tube rail tunnel, exploratory and rescue tunnel Picture: Thomas Böhm, Tiroler Tageszeitung 8 Investor Presentation January 2023 Picture ZOOM VP Picture: Axel Springer, Berlin TRIIIPLE RESIDENTIAL TOWERS - AUSTRIA Building three 100-metre-high residential towers Size: € 110 million Project schedule: 2018-2021 Project scope: Towers 1 and 2 will house 480 owner-occupied flats, Tower 3 will house 670 micro-apartments AXEL SPRINGER OFFICE BUILDING GERMANY - Construction of a new 52,000 m² office building for 3,500 employees Project Schedule: 2016-2020 Project Scope: 13-floor structure boasts 45m-high Atrium and interconnected terraces, glass walls and bridges STRABAG SOCIETAS EUROPAEA#9FLAGSHIP PROJECTS - INTERNATIONAL 9 Investor Presentation January 2023 ROHTANG PASS HIGHWAY TUNNEL - INDIA Size: € 197 million (=60% share) Project schedule: 2008-2020 Project scope: Construction of an 8.9 km long two-lane road tunnel with integrated emergency tunnel beneath the roadway via the NATM tunnelling method 04/12/2016 09:24 JV 5TH LINE WATER SUPPLY JERUSALEM - Size: € 165 million Project schedule: 2016-2020 Project scope: 12.9 km TBM tunnel, exit shaft (22 m deep), Soreq adit (1.4 km > NATM), complete tunnel with steel tube + connecting routes, ca. 13.3 km steel hydraulics construction, commissioning MAR1 - CONCESSION - COLOMBIA Size: € 893 million (37.5% share) Project schedule: 2016-2022 Project scope: 176 km national road (38 km 4-lane national road, 71 km rehabilitation of 2- lane road and operation and maintenance of 72 km road), incl. 67 bridges with total length of 7.3 km and 4.6 km tunnel MINING CONTRACTS EL TENIENTE - CHILE Size: €500 million Project schedule: 2019-2022 Project scope: Construction of tunnels with a total length of 32.5 km STRABAG SOCIETAS EUROPAEA#10BUSINESS SEGMENT CONTRIBUTION 2021 Regions/Areas Output volume (Єm) Order backlog (Єm) EBIT (Єm) EBIT margin (%) Employees North + West 49% of output volume 30% of output volume South + East International + Special Divisions 20% of output volume Germany, Poland, Benelux, Scandinavia, Ground Engineering Austria, Switzerland, Hungary, Czech Republic, Slovakia, Adriatic, Rest of Europe, Environmental Engineering, International, Tunnelling, Services, Real Estate Development, Infrastructure Development, Construction Materials 4th, non-operating segment "Others", output volume 1%, not shown 10 Investor Presentation January 2023 7,902 4,930 3,161 11,628 5,597 5,268 443 195 272 6.1 4.0 9.0 25,430 20,685 20,610 STRABAG SOCIETAS EUROPAEA#11KEY FINANCIALS (€m) Output volume Revenue EBITDA 2021 2020 A% 16,129 15,447 15,299 14,750 1,446 1,175 23 23 EBIT 896 631 Net income after minorities 586 395 28 42 48 Cash flow from operating activities 1,221 1,280 -5 Cash flow from investing activities -378 -350 -8 Balance sheet total 12,226 12,134 1 Group equity 4,072 4,108 -1 Equity ratio Net debt (+)/cash (-) 33.3 % 33.9 % -1,937 -1,747 -11 A% was calculated with original, not rounded figures → therefore, rounding differences may occur. 11 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#12COMPREHENSIVE COUNTRY NETWORK region-wide presence project business Only countries with a minimum annual output volume and a minimum order backlog of € 1 million are considered. 12 Investor Presentation January 2023 INTEGRATED MODEL TAKES ADVANTAGE OF ⚫ local management skills • market knowledge cost and efficiency synergies ⚫ risk diversification • data, digital and IT infrastructure COMPREHENSIVE COUNTRY NETWORK ENABLES STRABAG ΤΟ make more use of technology, data and machinery ⚫ follow clients around the world focus on resourcefulness and recyclability STRABAG SOCIETAS EUROPAEA#132 GLOBAL TRENDS IMPACTING THE CONSTRUCTION INDUSTRY STRABAG SOCIETAS EUROPAEA#14(1) URBANISATION/POPULATION GROWTH- HIGHER NEED FOR INFRASTRUCTURE By 2050 68% of the global population will live in cities (today: 55%) - an increase of the urban population by 2.5 billion. Nine largest European cities are projected to have a gap of 1.2 million flats by 2030. In addition, a number of European countries have significant unmet needs for social housing. 23 EU countries submitted their national recovery and resilience plans with significant investment programmes for the housing sector to the EU Commission in spring/early summer of 2021. ⚫ McKinsey: Germany needs to increase its annual construction volume by about € 40 billion in order to reach its political goals for infrastructure and residential construction. "Bundesverkehrswegeplan 2030": German investment plan with total sum of € 270 billion (focused on infrastructure in the Western part) - CASE STUDY GERMANY: DAILY TRAFFIC LOAD 2030F CHR Vehicles (thousands/day) >90 70-90 50-70 30-50 20-30 15-20 10-15 <10 Sources: Deutsche Stiftung Weltbevölkerung, Pressemitteilung 16.5.2018; Bundesministerium für Verkehr und digitale Infrastruktur, Bundesverkehrswegeplan 2030; McKinsey & Company Infrastruktur & Wohnen, Februar 2018; DIWECON "Estimating the number of unavailable flats in selected nine largest European cities by 2030", September 2020; Housing Europe "The State of Housing in Europe 2021"; Bruegel European Union countries' recovery and resilience plans, September 2021. 14 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#15- (1) URBANISATION/POPULATION GROWTH EXAMPLE I MOTORWAY DENSITY IN DIFFERENT MARKETS 45 km motorway / 1,000 km² 1999 2009 2019 0 Germany Croatia Austria Hungary Czech Republic Slovakia Bulgaria Poland Romania Source: Eurostat, Regionalstatistik des Verkehrs (https://ec.Europa. Eu/Eurostat/data/database) 15 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#16(1) URBANISATION/POPULATION GROWTH - EXAMPLE II PROJECTION OF LARGEST RESIDENTIAL CONSTRUCTION NEED 400,000 Number of flats 40,000 Average Annual Construction Demand Cumulative Construction Need 2021-2030 0 London Warsaw Paris Budapest Berlin Vienna Copenhagen Amsterdam Zurich Source: DIW-Econ "Estimating the number of unavailable flats in nine selected largest European cities by 2030," August 2020 16 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA Number of flats#17(1) URBANISATION/POPULATION GROWTH - EXAMPLE III PRESENT UNMET HOUSING NEED/PLANNED USE OF EU FUNDING THROUGH NATIONAL RECOVERY AND RESILIENCE PROGRAMMES UNTIL 2026 According to GdW1 estimate, the shortfall in the construction of new dwellings over the last 10 years is about 1 million units, Germany and 320,000 units per year are needed to meet the demand. € 2.5 billion to support the energy efficiency renovation of buildings Austria Poland Denmark EU Commission report notes an excess demand for all types of housing. According to GBV2, there is an annual need of 15,000 affordable homes over the next five years. € 159 million to support private households to replace oil and gas heating with more sustainable heating devices; € 543 million to construct new train lines and electrify the existing ones. Current shortfall of about 2 million apartments. Poland's Recovery and Resilience Plan that has yet to be approved, includes measures in improving air quality, energy efficiency in buildings, the development of renewable energy sources, zero-emission transport and access to broadband internet. 15,000 of new homes will be required per annum until 2040. A new broad political agreement secures investments from the National Building Fund of € 4 billion by 2026 to be allocated for green renovation of Danish social housing. Sources: Housing Europe "The State of Housing in Europe 2021"; European Commission, Country Report Austria 2020; The European Commission, "Laying the Foundations for Recovery", Austria, Germany, June 2021; DW "Poland's residential rental market: Boom or boon?", May 2021; European Commission "Poland submits official recovery and resilience plan, May 2021; GdW (2020), Wohnungswirtschaftliche Daten und Trends 2020/2021. 1 GdW - Gesamtverband deutscher Wohnungsunternehmen, the Federal Association of German Housing Companies 2 GBV - Gemeinnützige Bauvereinigungen, the Austrian federation representing non-profit housing associations 17 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#18(2) CLIMATE CHANGE/ENERGY EFFICIENCY - OVERVIEW • Total annual energy investment surges to USD 5 trillion by 2030, adding an extra 0.4 percentage point a year to annual global GDP growth1 ⚫ EU Green Deal sets 3 targets until 2030 - At least 40% cuts in greenhouse gas emissions At least 32% share of renewable energy At least 32.5% improvement of energy efficiency Buildings account for about 40% of the overall energy consumption and produce around 36% of the associated greenhouse gas emissions in the European Union² A2 Poland ! Clients are increasingly demanding that existing buildings be adapted with a view towards higher energy efficiency and lower emission levels during operation. ! Own building materials network provides a high barrier to entry for other market participants, as the permits for building new mixing plants are not granted easily due to environmental concerns. 1 „Net Zero by 2050. A Roadmap for the Global Energy Sector", International Energy Agency, June 2021, p 22 2 European Commission: https://ec.europa.eu/clima/policies/strategies/2030_en (last accessed 19 July 2021) 18 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#19(2) CLIMATE CHANGE/ENERGY EFFICIENCY - STRABAG SUSTAINABILITY STRATEGY Requrements EU supply chain law EU circular economy law EU Green Deal EU Taxonomy SDG* National level goals Industry goals Social discourse Demonstrations Climate-neutrality along the entire value chain by 2040 Impact analysis Sustainability strategy Data collection Projects SDG Sustainable Development Goals; STRABAG has been a UN Global Compact participant since March 2021 19 Investor Presentation January 2023 Roadmap Reporting Contribution STRABAG SOCIETAS EUROPAEA#20- (2) CLIMATE CHANGE/ENERGY EFFICIENCY - FIELDS OF ACTION OF SUSTAINABILITY STRATEGY* Juli. Strategic tasks Environmental Data CO₂ CO2-Emissions Energy . . Increase energy efficiency • • Substitute fossil fuels Develop and implement comprehensive mobility concepts Stakeholder communication, Reporting, Benchmarking Data availability and data models, Development of KPIs ✰ Materials and Waste Materials Optimise building materials Avoidance of unnecessary use of materials Improve water usage Waste • Reuse and recycle of waste Reduction of waste generation Supply Chain Supply Chain Management . Introduce a new sustainability management system for suppliers Perform regular supplier audits Optimise supplier logistics * Life Cycle • • Life cycle analysis Create life cycle assessments (Further) develop building certifications Customer satisfaction • Elaborate sustainability criteria for structural design and residential development Streamline land usage and ist efficiency * Examples of tasks in individual fields of action 20 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#21FASTER TOGETHER 2022 - THE STRABAG ACTION PLAN People First teamconcept BIM 5DⓇ SMART. Construction LEAN. Construction 21 Investor Presentation January 2023 Strategic Procurement Solution (SPS) Project Risk Management STRABAG SOCIETAS EUROPAEA#22(3) TECHNOLOGY/DIGITALISATION - SELECTED INNOVATION PROJECT EXAMPLES 11 4239 3333 8000 1000 0000 13001000 Personen im Taktbereich 18 23 24 25 200 32 22 Investor Presentation January 2023 DIGITAL TACT CONTROL Enables a complete overview of the construction progress The digital tact control relates planned deadlines and work, daily status assessments by the construction management and data from BIM models STRABAG REAL ESTATE ALBSTADTWEG NR. 10 The new office building maintains high sustainability standards via a number of climate-friendly measures Start date: December 2020 Occupation planned for Autumn 2022 PREFABRICATED BALCONIES RESEARCH The balconies are to be assembled as prefabricated parts with the facade in one step. Aim: to develop an assembly- friendly and inexpensive solution for the realisation of balconies in high-rise construction 1 18 17 16 RELAXED HYBRID PROJECT Joint research project with Federal Highway Research Institute (BASt) Start date: January 2019 Aim: To minimise the required thickness of the asphalt layer in order to reduce resource consumption and optimise construction site logistics STRABAG SOCIETAS EUROPAEA#23(4) RISK MANAGEMENT – RISK MANAGEMENT AT STRABAG - RISK MANAGEMENT AS A KEY STRATEGIC DIFFERENTIATOR • Hightened risk perception of climate change and resource scarcity • Compliance, cartell and competition, prevention of corruption • Sharing financial risk and responsibility in construction projects (PPP/concessions) • Diversification by region, type of project or service (e. g. Property & Facility Services), resources used and order backlog RISK KNOWLEDGE THROUGH MANAGEMENT INFORMATION SYSTEM • Project-driven construction business creates multitude of risks ⚫ Digitial hub and data analysis to apply consistent standards in all regions Sharing knowledge and experience (Common Project Standards) RISK INSTRUMENTS • Organisational structure with central divisions • Internal price committees • Internal Audit • Systematic cataloguing of result risk factors (lessons learned, best practice) 23 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#24(4) RISK MANAGEMENT - RISK OF CLIMATE CHANGE ON STRABAG'S BUSINESS CLIMATE CHANGE More frequent and extreme climate events have made environmental risks more significant for STRABAG's activities, notably storms, floods, heat and rockslides or even ground movements can affect buildings and infrastructure as well as the safety and health of our employees Climate change also implies an increasing scarcity and security of supply of raw materials, and this despite our own production and supply of building materials, notably minerals, rare metals, fossil fuels but also water, timber and plastics POSSIBLE IMPACT Material damage to building construction, installation and equipment • Health and safety conditions for our employees • Financial impact from higher costs of raw materials but also repair and maintenance, operational losses and construction delays • Regulatory or market changes leading to lower project profitability • Reputational damage in case of quality deficiencies and/or missed delivery deadlines 24 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#253 THE STRABAG STRATEGY & INVESTMENT PROPOSITION STRABAG SOCIETAS EUROPAEA#26THE STRABAG INVESTMENT PROPOSITION 1 Sustainable Profit Growth with a Reliable Dividend 2 Resourcefulness, Recyclability, Construction Life Cycle 3 Technology, Innovation and Digitalisation 4 LO 5 Flexible Business Model Supported by Strong Risk Management Financial Strength as a Competitive Advantage 26 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#27(1) SUSTAINABLE PROFIT GROWTH WITH A RELIABLE DIVIDEND - EBIT AND OPERATING CASH FLOW HISTORY EBIT (ЄM) AND EBIT MARGIN (%) 1,500 7 5.9% 4.3% 896 3.7% 3.8% 3.4% 3.3% 2.6% 603 631 2.4% 2.3% 558 2.1% 425 448 335 1.6% 341 262 282 207 0 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 OPERATING CASH FLOW (ЄM) 1,500 501 269 805 694 1.345 1.240 264 1.280 1.221 1.076 789 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 27 Investor Presentation January 2023 2022 Outlook: Exceptionally high level is not expected to be repeated in 2022 Target of an EBIT margin of at least 4% on a sustainable basis from 2022 onwards STRABAG SOCIETAS EUROPAEA#28(1) SUSTAINABLE PROFIT GROWTH WITH A RELIABLE DIVIDEND - NET INCOME AND DIVIDEND/PAYOUT HISTORY NET INCOME (€M) 1,000 596 363 379 399 282 292 239 182 156 148 110 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 DIVIDEND (€) AND PAYOUT RATIO (%) 28 7.0 179 50 43 48. 41 40 38 35 34 34 35 1.90 2.00 1.30 1.30 25 0.95 0.90 0.60 0.65 0.45 0.50 0.20 0.0 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Investor Presentation January 2023 Payout Ratio 30-50% of Net Income after minorities 2021: € 5.00 Special Dividend Payout ratio 179% STRABAG SOCIETAS EUROPAEA#29(2) RESOURCEFULNESS, RECYCLABILITY, CONSTRUCTION LIFE CYCLE - THE STRABAG CLIMATE NEUTRALITY TARGET (I) STRABAG is continuously rethinking its design and production processes, products, techniques and peoples' behaviour to incorporate "principles of the circular economy". Impact of infrastructure projects on the environ- ment STRABAG makes consistent efforts: • To limit its environmental footprint To demonstrate solutions for safeguarding ecosystems Addressing the scarcity of natural resources At design phase selection of sustainable and recyclable materials as well as resource-saving production methods At construction phase reducing the amount of resources used, limiting its footprint Recycling of materials and waste Still on site recovering and re-using materials, water and energy products 29 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#30(2) RESOURCEFULNESS, RECYCLABILITY, CONSTRUCTION LIFE CYCLE - THE STRABAG CLIMATE NEUTRALITY TARGET (II) GUIDING PRINCIPLES OF SUSTAINABILITY @ STRABAG • . Target: Climate neutrality along the entire value chain by 2040 Take responsibility for people, localities and partners STRABAG • pledges to, within its sphere of influence, avoid negative impacts to the environment as much as possible. ⚫ strives for an economic-ecological balance. • • promotes environmental stewardship towards customers and requires it from its employees. measures its environmental impact regardless of whether it arises in proprietary or customer business. ⚫ views buildings and infrastructure from a life cycle perspective. promotes and implements environmentally friendly technologies and methods. ⚫ utilizes its proprietary construction projects to enhance its sustainability expertise for customer business. ⚫ expresses environmental impact preferably in terms of CO2. 30 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#31(2) RESOURCEFULNESS, RECYCLABILITY, CONSTRUCTION LIFE CYCLE - THE STRABAG CLIMATE NEUTRALITY TARGET (III) 2021: CO₂ pricing in Germany 2021: draft EU supply chain legislation Today 2022: Entry into force of part 1 of the EU Taxonomy 2022: CO₂ pricing in Austria 2023: Entry into force of part 2 of the EU Taxonomy Conclusion of the 2030 Agenda (SDGs) Goal 2040: Climate neutrality of Austria 2025 2030 2035 2040 Climate neutral administration Climate neutral construction projects Climate neutral Climate neutral operation of buildings building materials and infrastructure Goal 2050: Climate neutrality of the EU Goal 2045: Climate neutrality of Germany 2050 # Administration: Construction projects: Effects the Group (Scope 1 and 2), including business trips (Scope 3), excluding in-house material production and construction projects Scope 1 and 2 emissions of construction projects (construction phase) Building operation: Building materials: Infrastructure: Scope 3 emissions of client's building operations In-house production and suppliers (Scope 3 upstream) All construction project except buildings 31 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#32- (3) TECHNOLOGY, INNOVATION AND DIGITALISATION - KEY POINTS OF STRABAG'S DIGITALISATION OBJECTIVES Digital objectives 1. Breaking down Data Silos Data is the basis of all digitalisation activities. Therefore, we are consistently breaking down the existing data silos within STRABAG and ensuring better networking with each other. We are making our data usable. 2. 3. Standardisation The success of the digital transformation crucially depends on the availability of global standards (processes, digital applications). We are therefore a) accelerating and defining the standardisation of our business processes and b) defining uniform digital standard technologies and tool kits (depending on the division) that include suitable digital applications to make the daily work of our operating unit colleagues easier. Acceleration of Digital Business Processes Cloud instead of filing cabinet, orders and sending invoices via portals instead of letters and faxes. Digital business processes are essential for companies, because digital innovations are only conceivable in an environment in which the working processes, data and technologies are set up in digital form. We are therefore accelerating the use of digital business processes that can also be offered as a service. Consistent Automation We are analysing our existing processes and pointing out where there is particularly high potential for automation (such as through the use of hardware and software robotics). We are optimising processes where a) much time is needed for manual work or system maintenance, b) there are high error rates that require time-intensive and cost-intensive subsequent manual work, and c) resources are blocked due to cost-intensive work that could also be automated. Ensuring Suitable Digital Equipment We are creating the appropriate framework conditions for successful digitalisation. This includes both modern, needs-based digital equipment (hardware, software and digital access), and an awareness and enthusiasm for digital solutions, so that our employees can also really tread new digital paths. Higher-level focus: Support for operating units and increase in efficiency 5. 32 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#33(3) TECHNOLOGY, INNOVATION AND DIGITALISATION - THE 5 CENTRAL ELEMENTS OF STRABAG'S DIGITAL STRATEGY STRATEGIC SUCCESS FACTORS Understanding the Requirements of Internal Customers • Focus on simplicity, speed, transparency, and service. Digital development on the basis of operative needs. 1 2 SID Agile Organisation 3 5 • Modify organisation models for 4 higher adaptability, speed & shorter reaction time. Digital Services & Business Models Transform existing processes and innovations into digital services & business models on the basis of customer requirements. Technology, innovation processes & start-ups as the basis. Bimodal IT Digital division with more flexibility (e.g. for new digital processes & projects). Classic IT division for stable operation of information technology. Source: https://bit.ly/2Hf6AIW 33 Investor Presentation January 2023 Data is the new Oil Data as a basis for exponential growth of knowledge and competitive advantages. Data as a basis for new business models, etc. STRABAG SOCIETAS EUROPAEA#34(3) TECHNOLOGY, INNOVATION AND DIGITALISATION - HEADCOUNT CENTRAL TECHNICAL, INNOVATION AND R&D STAFF HEADCOUNT 2,500 2 Total R&D spending 2021: ~ € 16 million ILL 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020* 2021 * 122 employees moved to SID SID ZT ΤΡΑ ZT = Central Technical Division; SID = STRABAG Innovation & Digitalisation; TPA = STRABAG company for quality control and innovation 34 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#35(3) TECHNOLOGY, INNOVATION AND DIGITALISATION CENTRAL TECHNICAL DIVISION/TPA AND SID CENTRAL TECHNICAL DIVISION • Central Technical Division - provides technical services spanning the entire construction process, from the acquisition phase to bid processing, from general and specialist planning to construction and start of operations • Focus on building construction and civil engineering ⚫ 24 locations • Technical Academy - strategically oriented operations: needs assessment, monitoring, generation of data base and KPIs, quality control, training course conceptualisation and support for new positions ΤΡΑ • TPA - organisation focused on optimising technical processes, workplace safety and quality • STRABAG's competence centre for quality management and construction R&D • Task areas: Quality control, building materials technology competence centre for asphalt and concrete technology, earthworks, rock science, geotechnics, environmental chemistry and special construction ⚫130 locations - STRABAG INNOVATION & DIGITALISATION (SID) DE CZ AT Key facts 2021 • Around 300 employees Locations Germany (Berlin, Hamburg, Cologne, Munich, Münster, Regensburg, Stuttgart) Austria (Vienna, Villach, Spittal) ⚫ Czech Republic (Prague) • Group-wide expertise for innovation & digitalisation • Digital support of operations and services companies Selected projects • Famoos (living moss on building facade in Germany) • Strategic Procurement Solutions (SPS) • Data Science Hub • Data-based Risk Analysis • Augmented Reality Visualisation • Supply Chain Management in civil engineering 35 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#36- (3) TECHNOLOGY, INNOVATION AND DIGITALISATION BIM 5DⓇ OFFERING TECHNOLOGY AND SUSTAINABILITY 3D MODEL: DEFINING THE "TO BE BUILT" - 5D PROCESS: MATERIALS, ORDERS 36 Investor Presentation January 2023 4D-TIME: WHEN ARE WORKS EXECUTED? ADVANTAGES OF BIM 5DⓇ • Single data pool as an answer to specialisation and growing number of companies involved • Risk management: Inconsistencies detected earlier • Clients get a clearer picture of the impacts resulting from alterations, renovations, additions ⚫ Budget and time overruns minimised STRABAG SOCIETAS EUROPAEA#37- (4) FLEXIBLE BUSINESS MODEL, STRONG RISK MANAGEMENT - RESILIENCE IN A VOLATILE INDUSTRY OUTPUT VOLUME (ЄM) 25,000 4% ORDER BACKLOG (ЄM) 25,000 22% 22.501 16.323 16.618 15.447 16.129 14.621 18.369 16.592 16.900 17.411 0 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 EBITDA (ЄM) AND EBITDA MARGIN (%) 2,000 1.174 1.113 953 835 EBIT (ЄM) AND EBIT MARGIN (%) 2,000 23% 1.446 42% 896 558 603 631 448 6.2% 6.3% 7.1% 8.0% 9.5% 3.3% 3.7% 3.8% 4.3% 5.9% 0 0 2017 20181 2019 2020 2021 2017 20181 2019 2020 2021 1 including a non-operating step-up profit in the amount of € 55.31 million 37 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#38(4) FLEXIBLE BUSINESS MODEL, STRONG RISK MANAGEMENT - OUR CLIENT STRUCTURE - 100% 61 64 55 65 66 99 67 67 52 39 36 35 34 33 33 33 62 62 62 62 61 61 63 63 public 38 38 39 39 37 private 0% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 38 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#39- (4) FLEXIBLE BUSINESS MODEL, STRONG RISK MANAGEMENT - OUR SUBCONTRACTING AND PORTFOLIO MIX SUBCONTR. BUILDING & CIVIL ENGINEERING SUBC. TRANSPORTATION INFRASTRUCTURE Sub- contractors 55 % Own 45% Sub- contractors 32 % Own 68% DIVERSIFIED PORTFOLIO BALANCES CYCLICAL/PROJECT-DRIVEN NATURE OF CONSTRUCTION • Diversifying geographically • Top market positions in stable home markets • Offer services along the entire construction value chain Construction Materials Services 5% 6% Project development & Concessions 2% International & Tunnelling 9% 39 Investor Presentation January 2023 Building Construction & Civil Engineering 37% % of total output volume 2020 Transportation Infrastructure 41% STRABAG SOCIETAS EUROPAEA#40- (4) FLEXIBLE BUSINESS MODEL, STRONG RISK MANAGEMENT - OWN DENSE CONSTRUCTION MATERIALS NETWORK STRABAG FACILITIES1 OWN COVERAGE OF MATERIAL NEEDS (%) Asphalt mixing plants 2722 100 88% 2021 2020 Concrete mixing plants Quarries and gravel pits • Cement mixing plants 83% 1332 1422 53 Production of 3.4 million m³ of concrete, 16.2 million tons of asphalt and 1.2 million tons of cement in 2021 • Sales revenue of € 660 million in 2021 34% 30% 27% 25% 18% 15% 0 Asphalt Concrete Cement Stone/Gravel HIGHLIGHTS • Hedge against price fluctuations, securing supply • Existing quarries as effective entry barriers - lack of permits for new sites • 30% in joint venture (at equity-consolidated since Q3/2011) with LafargeHolcim secures access to cement in Central and Eastern Europe • Further optimisation of raw materials network and increased self-sufficiency except in asphalt 1 December 2021 2 Includes active facilities from joint ventures and associates 3 Thereof four in JV with LafargeHolcim (STRABAG share 30%) and one in another investment (STRABAG share 25.6%) 40 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#41- (4) FLEXIBLE BUSINESS MODEL, STRONG RISK MANAGEMENT - STEADY INCOME THROUGH CONCESSION BUSINESS NUMBER OF STRABAG'S PPP1 PROJECTS 50 50 38 37 35 36 37 SELECTED PPP PROJECTS MAR1, Colombia 2017 2018 2019 2020 2021 Motorway A8, Germany PPP STRATEGY • Focus on infrastructure and large public buildings TOTAL CONCESSION COUNTRY PROJECT COST (€M) % SHARE UNTIL STATUS PL A2 Section II 1,543 10 2037 Operation • PPP/BOT1 in home markets, Eastern Europe and increasingly in selected international markets (insufficient legal framework in some countries) HU M5 Motorway 1,292 100 2031 Operation HU M6 Motorway 966 50 2037 Operation • Importance as public procurement method due to cost advantages COL MAR1 957 37.5 2045 In progress GER • High barriers to entry due to necessary PPP expertise and financial strength A49 Motorway 700 50 2050 In progress Schools, GER 52 42 100 2045 Operation Mülheim Ministries, 1 Public-Private Partnership/Build-Operate-Transfer GER 41 100 2035 Operation Potsdam 41 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#42- (4) FLEXIBLE BUSINESS MODEL, STRONG RISK MANAGEMENT - PROPERTY & FACILITY SERVICES TARGET MARKETS & BUSINESS SEGMENTS DE AT PL Technical Facility services Infrastructural Facility services Industrial services and technical cleaning Real Estate Management - Property Management Workplace Management KEY FACTS 2021 ⚫ Output 2021: € 582 m ~ 6,088 employees (FTE) • Strong focus on digitized services based on one Digital Service Platform - • Strong annual growth rate of ~ 6% EXTENDING THE VALUE CHAIN • Offsets seasonal and cyclicality factors (contracts of 3-5 years duration) • One-stop-shop service provider offering integrated lifecycle services • Long-term relationship with broad range of customers • Growth opportunities through international market access and rising importance of ESG solution services TARGETS 2022 • Extend business with new and existing customers • Secure long time relationship accounts by offering integrated service solutions • Enter new market segments • Stable output volume of approx. € 600 m • Further development of digitized services (e.g. digital twin to improve data transparency and establish flexible and scalable services alongside customer requirements) Development of green services, based on digitized data to improve sustainability of properties 42 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#43- (4) FLEXIBLE BUSINESS MODEL, STRONG RISK MANAGEMENT - REAL ESTATE DEVELOPMENT TARGET MARKETS & BUSINESS SEGMENTS Hamburg Hannover Warschau Bedim) Düsseldorf Antwerpen Luxemburg Köln ●Frankfurt Prag Stuttgart Bratislav Freiburg München Wien Salzburg Bukarest O Circa 70-year long successful presence on the real estate market 2 Brands: Mischek & STRABAG Real Estate • 850+ completed projects 21 locations in 13 countries KEY FACTS Overall performance¹ 2020: € 624 m ~ 370 employees Investment focus on major European cities with emphasis on Germany, Austria and CEE countries. • Range of services: commercial and residential real estate, as well as bespoke development work (Development Services, Planning, PPP). Belgrad Sofia SELECTED PROJECTS Heinrich von Stephan Businessmile, Freiburg, Germany Am langen Felde, Vienna, Austria 1 Own and third-party value added output 43 Investor Presentation January 2023 Obrkssl Home of Success, Düsseldorf, Germany STRATEGY AND SUSTAINABILITY FOCUS Our Strategy: Real Smart We develop sustainable real estate assets in harmony with people, environment and digitalisation without compromising economic profits. Our buildings satisfy the comfort and sustainability criteria of our customers. Systematic data evaluation and more than 70 years of industry experience help us develop buildings for the long- term service. STRABAG SOCIETAS EUROPAEA#44- (4) FLEXIBLE BUSINESS MODEL, STRONG RISK MANAGEMENT - SELECTED REAL ESTATE DEVELOPMENT PROJECTS 44 Investor Presentation January 2023 THE WILD VIENNA APARTMENT COMPLEX Build time: 2021-2022 Gross floor area: 5.000 m² Apartments: 109 Parking spaces: 62 P CHPASS KUHLIO FRANKFURT APARTMENT COMPLEX Build time: 2019-2021 Gross floor area: 15.000 m² Apartments: 167 Parking spaces: 105 UPPER ONE, WARSAW OFFICE BUILDING Build time: Property area: 2022-2025 2.010 m² Rental area offices: 34.200 m² Rental area retail: Parking spaces: 310 m² 212 DÚBRAVKA, BRATISLAVA APARTMENT COMPLEX & HOTEL Build time: Property area: Gross floor area: Apartments: 2023-2025 15.450 m² 24.600 m² 195 Apartments/Rooms: 145 Total retail: Parking spaces: 175 m² 373 STRABAG SOCIETAS EUROPAEA#45(5) FINANCIAL STRENGTH AS COMPETITIVE ADVANTAGE - OVERVIEW RATING EQUITY RATIO STRABAG SE is one of the few European construction companies with an official corporate credit rating. S&P raised STRABAG SE investment grade rating from BBB- to BBB, stable outlook, in June 2015; confirmed in August 2022 - Leading market positions in Central Europe and some parts of Eastern Europe Vertical integration that provides barriers to entry and strategic access to raw materials Largely stable operating margins, which indicates generally good project execution and cost management High standing in the credit markets and solid perceived financial stability, underpinned by a net cash position Target: maintain investment grade credit rating • High equity ratio of 33% (sector average 23%) Target: maintain equity ratio of ≥25% NET CASH FINANCING 45 Investor Presentation January 2023 • Net cash of € 1,937 million end of 2021 Cash and surety credit lines (31 December 2021): € 8.2 billion thereof syndicated surety loan of € 2.0 billion (by 2026) thereof syndicated cash credit line of € 0.4 billion (by 2026) STRABAG SOCIETAS EUROPAEA#464 FINANCIAL PERFORMANCE STRABAG SOCIETAS EUROPAEA#47ORDER BACKLOG REACHED AN ALL-TIME HIGH, OUTPUT VOLUME UP BY 9 % OUTPUT VOLUME (ЄM) 25,000 7.588 -9% 6.943 16.129 6M/22 6M/21 2021 ORDER BACKLOG (€M) -14% 25,000 23.970 22.501 21.102 47 0 6M/22 6M/21 2021 Investor Presentation January 2023 Besides the core markets of Germany, Austria and the Czech Republic, the increased output volume in the United Kingdom is of particular note • +14% to new record high • Order backlog grew by around € 2 billion in Germany alone, with significant increases also recorded in Austria and Poland STRABAG SOCIETAS EUROPAEA#48EARNINGS DOWN COMPARED TO PREVISOUS YEAR'S EXCEPTIONAL LEVELS EBITDA (€M) 1,500 1.446 EBITDA decreased by 20% EBIT (ЄM) 1,500 48 325 --20% 406 6M/22 6M/21 2021 -55% - 140 64 0 6M/22 Investor Presentation January 2023 896 6M/21 2021 • Depreciation and amortisation comparable to six months 2021 • EBIT declined by 55 % compared to the exceptionally good figure in the previous year, although it still fits in well with the long-term comparison STRABAG SOCIETAS EUROPAEA#49POSITIVE NET INCOME AFTER MINORITIES AFTER SIX MONTHS NET INCOME AFTER MINORITIES (€M) 1,000 -54% 586 EARNINGS PER SHARE (€) 5,71 6 --54% - 0,86 88 40 0,39 0 6M/22 6M/21 2021 6M/22 6M/21 2021 • Net interest income was positive at € 6 million after € -3 million in 6M/21; positive exchange rate differences of € 5.74 million contained therein • Income tax rate of 37% • Earnings attributable to minority shareholders changed very little in absolute terms • Net income after minorities at € 40.41 million 49 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#50HIGH EQUITY RATIO OF MORE THAN 30 % ASSETS1 EQUITY AND LIABILITIES1 (€m) 6M/2022 2021 (€m) 6M/2022 2021 Intangible assets 473 476 Share capital 103 103 Rights from concession Capital reserves 2,086 2,086 arrangements 483 493 Retained earnings 1,806 1,859 PP&E & investment property 2,638 2,533 Non-controlling interests 28 24 Equity-accounted investments 420 403 Total equity 4,022 4,072 Other investments 199 195 Provisions 1,108 1,236 Concession receivables 505 525 Financial liabilities 689 711 Other receivables 303 260 Other liabilities 87 96 Deferred taxes 120 104 Deferred taxes 163 104 Non-current assets 5,141 4,990 Non-current liabilities 2,048 2,146 Inventories 1,140 969 Provisions 1,057 1,098 Concession receivables 48 46 Financial liabilities 368 483 Contract assets 1,955 1,348 Contract liabilities 1,022 1.117 Trade and other receivables 2,114 1,910 Trade payables 2,667 2,421 Cash and cash equivalents 1,877 2,963 Other current liabilities 1,092 888 Current assets 7,134 7,236 Current liabilities 6,206 6,008 Total Assets 12,275 12,226 Equity and liabilities 12,275 12,226 1 Rounding differences might occur. 50 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#51CFO MORE NEGATIVE DUE TO INCREASED INVENTORIES AND CONTRACT ASSETS (Єm) 6M/22 A% 6M/21 - Cash beginning of period 2,963 4 2,857 Cash flow from earnings 252 -27 347 A Working Capital -858 -109 -410 Cash flow from operating activities -606 -869 -63 Cash flow from investing activities -289 -31 -220 Cash flow from financing activities -192 73 -714 Net change in cash -1,086 -9 -996 FX changes -1 n.m. 15 Cash-end of period 1,876 0 1,875 Rounding differences might occur. 51 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#52NORTH + WEST: ORDER BACKLOG AGAIN HIGHER, EARNINGS DOWN KEY INDICATORS (€m) 6M/22 A% 6M/21 Output volume 3,703 9 3,391 Revenue 3,465 13 3,079 Order backlog 12,431 19 10,457 EBIT 11 -89 105 EBIT margin (% of rev.) 0.3 Employees (FTE) 25,371 0 25,301 SHARE OF GROUP OUTPUT VOLUME 49% of group output volume 3.4 COMMENTS • Output volume up in Germany, slight declines in Poland, Denmark and the Benelux countries ⚫ EBIT decreased noticeably as 2021 was an exceptional strong year, especially for the German road construction Order backlog further increased - - Wide range of new projects in Germany, including the largest US military hospital outside the United States Design & build of S19 motorway in Poland • Outlook: Slightly higher output volume 2022 expected, based on record order backlog - Germany: very selective approach to bidding Poland: focus on managing enormous price increase and inflation 52 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#53SOUTH + EAST: TYPICAL SEASONAL EARNINGS EFFECTS KEY INDICATORS (€m) 6M/22 A% 6M/21 Output volume 2,303 11 2,084 Revenue 2,274 11 2,049 Order backlog 6,208 14 5,430 - EBIT -11 -10 -10 EBIT margin (% of rev.) -0.5 -0.5 Employees (FTE) 20,258 1 20,014 SHARE OF GROUP OUTPUT VOLUME 53 30% of group output volume Investor Presentation January 2023 COMMENTS • Output volume rose by 11 %, primarily in Austria, Czech Republic an Hungary EBIT, as usual, still in the negative terrain Order backlog increased by 14 %: - Austria strongest driver Growth also in Czech Republic, Slovakia and Hungary Outlook: Positive trend in output volume to continue in FY 2022 Austria: higher output volume, first sign of easing in material prices Hungary faces public budget constraints Stable public sector demand in Czech Republic, but shortage of labour as restraining factor Slovakia cause for some concern due to political developments STRABAG SOCIETAS EUROPAEA#54INTERNATIONAL + SPECIAL DIVISIONS: SUCCESSFUL LARGE- SCALE PROJECTS KEY INDICATORS (€m) 6M/22 A% 6M/21 Output volume 1,525 8 1,417 Revenue 1,500 7 1,398 Order backlog 5,325 2 5,207 - EBIT 78 33 58 EBIT margin (% of rev.) 5.2 4.2 Employees (FTE) 20,096 -3 20,779 SHARE OF GROUP OUTPUT VOLUME 20% of group output volume 54 Investor Presentation January 2023 COMMENTS • Output volume higher by 8% due to large-scale projects in the UK and the Middle East • EBIT up by 33 %: Earnings contribution from UK projects Stable results in Property & Facility Services and Real Estate Development • Order backlog grew to € 5,3 billion - Order intakes in the Chilean mining business and in Italy Reduction in Austria Outlook: - Output volume 2022 should be higher than 2021 International business: business opportunities in Canada, renewed demand for construction services in Middle East Market uncertainties in the Real Estate business, balancing effects from inter-company cooperation Satisfactory construction materials business STRABAG SOCIETAS EUROPAEA#55OUTLOOK 2022 CONFIRMED • Output volume 2022 should reach € 16.6 billion • EBIT margin (EBIT/revenue) of at least 4 % for the 2022 financial year as a whole • CAPEX (cash flow from investing activities) forecast to not exceed € 550 million SECOND BEST HALF-YEAR RESULT AFTER 2021 RECORD YEAR 200 7.507 7.588 6.943 6.875 6.720 6.205 6.254 140 5.643 5.780 5.677 61 64 45 20 -21 -33 -68 -123 -108 Output volume (Єm) EBIT (Єm) 10,000 -200 0 6M 2013 6M 2014 6M 2015 6M 2016 6M 2017 6M 2018 6M 2019 6M 2020 6M 2021 6M 2022 55 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#56SOLA STRABAG 5 APPENDIX RABAG AMS WORK. FM STRABAG SOCIETAS EUROPAEA STD W#57OUTPUT VOLUME SLIGHTLY BELOW THE RECORD LEVEL OF 2019 OUTPUT VOLUME (ЄM) 25,000 16.129 2021 -4% OUTPUT VOLUME BY REGION 2021 Rest of world Rest of Europe 5% 8% CEE 24% CEE Central and Eastern Europe 17% Austria 57 Investor Presentation January 2023 15.447 2020 46% Germany • Output volume growth in all three operating Segments of the group • Upturn in the home market of Austria following the negative business development as a result of the temporary suspension of construction work in the wake of the coronavirus crisis in 2020 • Unusual good construction weather 2021 Growth was also recorded, among other places, in Germany, the Czech Republic and, due to ongoing megaprojects, in the UK STRABAG SOCIETAS EUROPAEA#58ORDER BACKLOG AT AN ALL TIME HIGH OF € 22.5 BILLION ORDER BACKLOG (ЄM) 25,000 22.501 2021 -22% - ORDER BACKLOG BY REGION 2021 Rest of world Rest of Europe 7% 13% 20% CEE CEE Central and Eastern Europe 12% Austria 58 Investor Presentation January 2023 18.369 2020 48% Germany Major contracts in the home markets of Germany and Austria • Order backlog increased in core markets such as Poland and Hungary, thanks to numerous new projects in a wide range of sectors • Declines in the Benelux countries, Denmark and Slovenia STRABAG SOCIETAS EUROPAEA#59COMBINATION OF NUMEROUS POSITIVE EARNINGS EFFECTS IN ALL SEGMENTS EBITDA (€M) AND EBITDA MARGIN (%) 2,000 23% • Improvement of EBITDA margin from 8.0 % to 9.5 % 1.446 1.174 9.5% 2021 8.0% 2020 EBIT (ЄM) AND EBIT MARGIN (%) 2,000 59 896 42% 631 5.9% 4.3% 0 2021 2020 Investor Presentation January 2023 • Exceptionally high level is not expected to be repeated in 2022 • Company is sticking to its target of achieving an EBIT margin of at least 4 % on a sustainable basis from 2022 onwards STRABAG SOCIETAS EUROPAEA#60EARNINGS PER SHARE SIGNIFICANTLY INCREASED NET INCOME A. MINORITIES (EM) & MARGIN (%) EARNINGS PER SHARE (€) 1,000 586 48% - 395 3.8% 2.7% 2021 2020 10 5,71 48% 3,85 2021 2020 • Absence of interest expenses lead to improved net interest income • The income tax rate stood at 32.5 %, and was slightly lower than in the previous year (2020: 34.6%) 60 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#61GROUP INCOME STATEMENT 2021 (€m) Output volume Revenue 2021 2020 A% 16,128.92 15,446.61 4.4 15,298.54 14,749.74 3.7 Changes in inventories/own work capitalised -109.81 23.46 n.m. Other operating income 211.26 205.81 2.6 Construction materials, consumables and services used -9,415.08 -9,304.35 -1.2 Employee benefits expenses -3,843.58 -3,713,07 -3.5 Other operating expenses -823.82 -910.52 9.5 Share of profit or loss of associates 92.11 66,21 39.1 Net income from investments 36.10 57.17 -36.9 EBITDA Margin (%) Depreciation and amortisation EBIT Margin (%) Net interest income 1,445.72 1,174.45 23.1 9.5% 8.0 -549.61 -543.80 -1.1 896.11 630.65 42.1 5.9% 4.3 -12.57 -20.60 39.0 Income tax expense -287.14 -210.99 -36.1 Net income 596.40 399.06 49.5 Attributable to minority interest 10.69 3.84 178.4 Attributable to equity holders of the parent company 585.71 395.22 48.2 Earnings per share (€) 5.71 3.85 48.2 A% was calculated with original, not rounded figures → therefore, rounding differences might occur. 61 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#62EQUITY RATIO AT 33% ASSETS1 (€m) EQUITY AND LIABILITIES1 2021 2020 (€m) 2021 2020 Intangible assets 476 483 Share capital 103 110 Rights from concession Capital reserves 2,086 2,315 arrangements 493 512 Retained earnings 1,859 1,661 PP&E & investment property 2,533 2,571 Non-controlling interests 24 22 Equity-accounted investments 403 419 Total equity 4,072 4,108 Other investments 195 188 Provisions 1,236 1,224 Concession receivables 525 562 Financial liabilities 711 992 Other receivables 260 234 Other liabilities 96 105 Deferred taxes 104 185 Deferred taxes 104 61 Non-current assets 4,990 5,153 Non-current liabilities 2,146 2,383 Inventories 969 1,070 Provisions 1,098 1,008 Concession receivables 46 42 Financial liabilities 483 164 Contract assets 1,348 1,071 Contract liabilities 1,117 1,024 Trade and other receivables 1,910 1,940 Trade payables 2,421 2,463 Cash and cash equivalents 2,963 2,857 Other current liabilities 888 984 Current assets 7,236 6,981 Current liabilities 6,008 5,643 Total Assets 12,226 12,134 Equity and liabilities 12,226 12,134 1 Rounding differences might occur. 62 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#63NET CASH POSITION STILL EXCEPTIONALLY HIGH, EQUITY RATIO ALMOST UNCHANGED NET DEBT (+)/NET CASH (-) (€M) 2,000 0 EQUITY RATIO (%) 40 33,9 33,3 30,7 31,6 31,5 -1.335 -1.218 -1.144 -2,000 -1.747 2017 2018 2019 2020 -1.937 2021 0 2017 2018 2019 2020 2021 ⚫ Equity ratio almost unchanged despite the increased dividend payment for 2020 • Net cash position increased even further - Increased cash and cash equivalents ― Uncharacteristically high advance payments not yet reduced • S&P confirmed corporate credit rating of BBB (outlook: stable) in August 2022 63 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#64CASH AND CASH EQUIVALENTS OF € 3.0 BILLION (€m) 2021 A% 2020 Cash beginning of period 2,857 16 2,460 Cash flow from earnings 1,216 31 930 A Working Capital 5 -99 350 Cash flow from operating activities 1,221 -5 1,280 Cash flow from investing activities -378 -8 -350 Cash flow from financing activities -744 -50 -496 Net change in cash 99 -77 434 FX changes Change restricted cash Cash-end of period 7 n.m. -38 0 -100 1 2,963 4 2,857 Rounding differences might occur. 64 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#65CASH AT € 3.0 BILLION CASH DEVELOPMENT (ЄM) 5,000 0 2.857 Cash 1.1.2021 1.221 378 0 2.963 744 CFO CFI CFF translation cash Currency Restricted Cash 31.12.2021 COMMENTS Slight increase in cash and cash equivalents, despite the distribution of the higher dividend for the year 2020. CFO: Cash flow from operating activities CFF: Cash flow from financing activities CFI: Cash flow from investing activities (net CAPEX) 65 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#66AGAIN CASH INFLOW IN 2HY/2021 WORKING CAPITAL PATTERN: CASH OUTFLOWS IN 1HY; INFLOWS IN 2HY (ЄM) 1,500 0 -278 989 -295 430 -550 775 -207 557 -410 415 -1,500 HY1 2017 HY2 2017 HY1 2018 HY2 2018 HY1 2019 HY2 2019 HY1 2020 HY2 2020 HY1 2021 HY2 2021 COMMENTS • Working capital outflows generally occur over the first nine months of the year due to business seasonality • Record cash-inflow in 2HY/2017 - expectation of increase in working capital to familiar levels has not yet materialised Rounding differences might occur. 66 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#67POSITIVE FREE CASH FLOW ON A HIGH LEVEL A WORKING CAPITAL (ЄM) CFO VS. CFI (ЄM) 1,500 1,500 350 225 1.076 593 1.280 1.221 CFI VS. DEPRECIATION (EM) 1,500 593 511 544 550 350 378 350 378 5 2019 2020 2021 2019 2020 2021 2019 2020 CFO CFI CFI 2021 Depreciation • Free Cash Flow decreased to € 843 million (2020: € 930 million) • Purchase of PP&E at € 456 million (2020: € 451 million) ⚫ 2021 depreciation includes higher goodwill impairment of € 6 million (2020: € 5 million) 67 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#68NORTH + WEST: CRISIS-PROOF THANKS TO STABLE CORE MARKETS KEY INDICATORS (€m) 2021 A% 2020 Output volume 7,902 1 Revenue 7,318 -2 7,863 7,462 Order backlog 11,628 27 9,158 EBIT 443 406 EBIT margin (% of rev.) 6.1% 5.4% Employees (FTE) 25,430 -1 25,801 SHARE OF GROUP OUTPUT VOLUME 68 Investor Presentation January 2023 49% of group output volume COMMENTS ⚫ Output volume with +1 % largely stable compared to the previous year • EBIT grew by 9 % thanks to positive contributions to earnings achieved in the German building construction and civil engineering business as well as in Poland. • Order backlog (+27 %) mainly driven by Germany to a new record level STRABAG SOCIETAS EUROPAEA#69SEGMENT SOUTH + EAST EXPECTS RETURN TO PRE-CRISIS LEVEL KEY INDICATORS (€m) 2021 A% 2020 Output volume 4,930 6 4,633 Revenue 4,925 7 4,603 Order backlog 5,597 26 4,441 EBIT 195 11 176 EBIT margin (% of rev.) 4.0% 3.8% Employees (FTE) 20,685 1 20,512 SHARE OF GROUP OUTPUT VOLUME 31% of group output volume 69 Investor Presentation January 2023 COMMENTS Output volume up by 6 %, primarily due to post- crisis recovery in Austria EBIT increased by 11 % due to improvements in almost all countries in this segment • Order backlog (+26%) also driven by the Austrian market STRABAG SOCIETAS EUROPAEA#70INTERNATIONAL + SPECIAL DIVISIONS: IMPROVEMENTS IN ALL MAJOR BUSINESS AREAS KEY INDICATORS (€m) 2021 A% 2020 Output volume 3,161 12 2,812 Revenue 3,039 14 2,670 Order backlog 5,268 11 4,763 EBIT 272 403 54 EBIT margin (% of rev.) 9.0% Employees (FTE) 20,610 -3 2.0% 21,339 SHARE OF GROUP OUTPUT VOLUME 20% of group output volume 70 Investor Presentation January 2023 COMMENTS Output volume 12 % above previous year's level: large projects in the international business • Extraordinarily strong growth of the EBIT: The negative impact of the Covid-19 pandemic, especially in the international business, decreased. Positive contribution to the earnings come from facility management and real estate development business Order backlog increased by 11 % - e.g. new tunnelling projects in Canada and Austria STRABAG SOCIETAS EUROPAEA#71OUTPUT VOLUME BY COUNTRY (€m) 2017 2018 2019 2020 2021 CAGR (%) Germany 6,960 7,877 7,819 7,323 7,462 2 Austria 2,333 2,542 2,679 2,460 2,694 Poland 848 975 1,129 1,183 1,152 8 Czech Republic 629 706 783 826 948 11 Hungary 551 714 848 671 652 4 Americas 385 515 714 494 482 6 United Kingdom² 126 226 390 76 Slovakia 528 667 369 297 289 -14 Romania 183 197 226 250 264 10 Benelux 294 351 318 262 233 -6 Middle East 303 206 148 119 203 -10 Switzerland 320 273 232 220 192 -12 Croatia 120 163 152 172 177 10 Serbia 113 111 148 158 155 8 Asia 99 162 179 117 145 10 Other European Countries² 277 275 217 159 136 -21 Sweden 162 178 205 160 121 -7 Denmark 159 92 99 76 109 -9 Slovenia 53 68 49 59 104 18 Bulgaria 45 42 42 65 82 16 Italy Russia Africa Total 67 74 0 52 58 -4 143 78 71 52 46 -25 48 14,621 57 16,323 66 16,618 46 35 -8 15,447 16,129 2 1 CAGR over period 2017-2021; 2 UK included in Other European countries until 2018. Shown separately from 2019 (CAGR over period 2019-2021) 71 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#72STRABAG MARKET SHARE DATA 2020 COUNTRY CONSTRUCTION OUTPUT (Єm) STRABAG OUTPUT (Єm) MARKET SHARE (%) Germany Austria 396,571 7,323 1.8 45,811 2,460 5.4 Poland 54,904 1,183 2.2 Czech Republic 23,728 826 3.5 Hungary 15,927 671 4.2 Russia 121,042 52 0.0 Slovakia 4,899 297 6.1 Romania 23,440 250 1.1 Croatia 4,621 172 3.7 Slovenia 3,324 59 1.8 Serbia 3,838 158 4.1 Bulgaria 8,120 66 0.8 Switzerland 65,329 220 0.3 Benelux Sweden Italy Denmark 134,982 262 0.2 51,070 160 0.3 171,364 52 40,917 76 0.0 0.2 Sources: Euroconstruct Report, winter 2021, EECFA Country Reports winter 2021, company data 72 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#73MARKET LEADING POSITION IN CENTRAL AND EASTERN EUROPEAN COUNTRIES - WESTERN EUROPE EASTERN EUROPE Rank GERMANY POLAND CZECH REPUBLIC HUNGARY 1. STRABAG 7,323 Budimax 1,816 Metrostav 978 Mészáros 697 2. Vinci 3,213 STRABAG 1,183 STRABAG 826 Duna Aszfalt 675 3. Goldbeck 2,636 Porr 561 Eurovia 606 STRABAG 671 4. Zech Group 2,583 Erbud 483 OHL 299 Market 558 5. Max Bögl 1,780 Unibep 365 Skanska 290 Colas 307 Rank AUSTRIA SLOVAKIA ROMANIA CROATIA 1. STRABAG 2,460 STRABAG 297 STRABAG 250 STRABAG 172 2. Porr 2,344 D4R7 Construction 238 Astaldi 239 Kamgrad 143 3. Swietelsky 1,817 Doprastav 207 Spedition UMB 207 GP Krk 100 4. Habau1 1,633 Granvia 107 Technostrade 189 Radnik 97 5. Rhomberg Gruppe¹ 783 HB Reavis Management 87 Porr 171 GIP Pionir 87 Output volume/Revenue 2020 (€ million) Sources: Companies' Annual Reports; Deutsche Bauindustrie; OPTEN; Časopis Stavitel; Deloitte; 1 Habau and Rhomberg Gruppe listed with total revenue. 73 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#74OWN BUILDING MATERIALS NETWORK 74 Investor Presentation January 2023 Netherlands Asphalt ech Republi Germany Poland Slovakia Austria Hungary Switzerland Slovenia Croatia Bosnia-Herzegovina Concrete Sand and Gravel Cement Moldova Romania Serbia Montenegro Bulgaria Kosovo STRABAG SOCIETAS EUROPAEA#75FINANCING PPP-PROJECTS TYPICAL FINANCING The SPV1 is financed with equity (10%-30%) and bank debt (70%-90%) • STRABAG - as a shareholder in the SPV - puts in equity Other SPV shareholders are e.g. governments, infrastructure funds and developers or other construction companies. • The grantor pays a fee to the SPV which is used for construction, maintenance, repaying debt and paying dividends to equity partners. • Availability and hard toll projects, forfeiting models • Maintenance part of availability fee linked to inflation • WACCs differ according to risk: 6%-13% • ROE targets: minimum 12% • Share of equity currently invested and committed: € 549 million (as at end of 2021) 1 Special Purpose Vehicle 75 Investor Presentation January 2023 EQUITY INVESTED IN PPP (€M) 700 515 556 427 554 400 2017 2018 2019 2020 2021 STRABAG SOCIETAS EUROPAEA#76ILLUSTRATIVE PPP PROJECT STRUCTURE DEBT Lenders Funding Agreements Insurance Contracts Grantor Project/Concession Contract Independent Engineer Agreement Independent Engineer STRABAG SPC / Project Consortium / Company Shareholders Agreement [Public Entity] Insurance Providers Turnkey Design and Construction Contract Construction Joint Venture (EPC - Contract) 76 Investor Presentation January 2023 Operations & Maintenance Contract STRABAG Partner(s) A-Way EQUITY Operations & Maintenance Company CJV Partner(s) OJV Partner(s) STRABAG SOCIETAS EUROPAEA#77PROPERTY & FACILITY SERVICES: STRATEGIC RATIONALE & TARGETS BROAD RANGE OF CUSTOMERS - SELECTION Services for all types of real estate and property, as offices, logistics, industrial sites and plants, technology buildings, data centres) CA Immo, One Frankfurt, Germany Mixed use Stanica Nivy, Bratislava, Slovakia Shopping mall, mix-use Allianz, München, Germany Allianz, Vienna, Austria Office Audi, Heilbronn, Germany Production site, logistics MILESTONES 2018 2019 2020 2021 2021 Acquisition of Caverion Polska Sp. z o.o. | Poland • Take-over of Property Management business of Corpus Sireo | Germany • Acquisition of PORREAL Polska sp. z o.o. | Poland • Acquisition of PORREAL Česko s.r.o. | Czech Republic • Acquisition of SKS Elektrotechnik GmbH | Germany Strategic reorganization and fully integration into STRABAG group Acquisition of business operations of BAM Facility Services GmbH (Asset Deal) | Germany Rebranding of former DIW companies to STRABAG | Germany 77 Investor Presentation January 2023 02 Telefonica Munich, Germany, Office, data center STRABAG SOCIETAS EUROPAEA#78STABLE SHAREHOLDER STRUCTURE SHAREHOLDER STRUCTURE SINCE 1/2022 MKAO,,Rasperia Trading Limited" 27,8% Haselsteiner Family 28,3% 14,4% Free float 29,5% UNIQA/Raiffeisen 2.2% 1.9% 1.7% 1.5% 0.4% 6.7% Retail Institutional Continental Europe (ex. Austria) Other Institutional Austria Institutional North America Institutional UK and Ireland COMMENTS • The core shareholders Haselsteiner Familien-Privatstiftung, UNIQA and Raiffeisen have concluded a new syndicate agreement and will make mandatory offer with company participation. The offer is intended to remove the current restriction on voting rights. Offer price of € 38.94 per STRABAG share. • The current shareholder syndicate agreement expires at the end of 2022, thereby ending joint control of the company. • Oleg Deripaska since 8 April 2022 on EU sanctions list. Rasperia is therefore a sanctioned entity, but not STRABAG. • EU asset freeze: all rights associated with these shares, including voting rights and dividend entitlements, are frozen. 78 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#79ORGANISATIONAL STRUCTURE - CENTRAL UNITS Board Member Divisions Division Manager Subdivisions North + West 1 3 36 Subdivision Manager CEO Operative Segments South East International + Special Divisions 1 1 1 30 6 1 24 Central Divisions & Central Staff Divisions CFO BRVZ CEO CDO BMTI1 · • . • Accounting Financing Taxes • Human Resources Project Risk Management System (PRMS) /System Development BRVZ Coordination Management Support/HR IT and Country Support Coordination Insurance Business Compliance Zentrale Technik Real Estate IT TPA² Corporate Communications . International CML3 Internal Auditing Department STRABAG Innovation & Digitalisation 1 BMTI: equipment and vehicle management 2 TPA: quality management, technical consultation, quality assurance, innovation management, health/safety/environment and energy management 3 CML: prequalification, contract management and legal services As of 1 January 2022 79 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#80THE MANAGEMENT BOARD LONG RECORD OF EXPERIENCE WITHIN STRABAG AND IN THE CONSTRUCTION SECTOR from left: Alfred Watzl, Jörg Rösler, Klemens Haselsteiner, Siegfried Wanker, Christian Harder Over 100 years combined experience at STRABAG Klemens Haselsteiner, CEO . Joined STRABAG in 2011 · Management Board member since 2020 • Born 1980 Education: Economics Christian Harder, CFO • Joined STRABAG in 1994 • Management Board member since 2013 Born 1968 Education: Business Administration Alfred Watzl, Head of South + East segment • Joined STRABAG in 1999 Management Board member since 2019 Born 1970 Education: Civil Engineering Siegfried Wanker, Head of International + Special Divisions segment • Joined STRABAG in 1994 Management Board member since 2011 Born 1968 Education: Civil Engineering Jörg Rösler, Head of North + West segment . Joined STRABAG in 2001 Management Board member since 2023 • Born 1964 Education: Civil Engineering 80 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#81STRABAG SHARE IS COVERED BY FIVE INSTITUTIONS Company Date Title Target Price Rating LBBW 20.1.2023 Nachfrist des Pflichtangebots endet am 2. Feb. 2023 € 39.0 Hold Erste Group 13.1.2023 Aktienempfehlungen Österreich € 52.5 Buy Kepler Cheuvreux 17.11.2022 Key takeaways from the CMD € 45.0 Buy RBI 31.8.2022 FY 22 financial targets reiterated € 51.5 Buy Deutsche Bank 14.1.2022 Record backlog, raising PT to €45 € 45.0 Buy 81 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA#82FINANCIAL CALENDAR AND IR CONTACT • FY 2022 figures: output volume, order backlog, employees and outlook 2023 . Annual Report 2022 Trading Statement January-March 2023 • Annual General Meeting 2023 • Semi-Annual Report 2023 • Trading Statement January-March 2023 17 February 2023 27 April 2023 31 May 2023 16 June 2023 31 August 2023 16 November 2023 Marianne Jakl Head of Investor Relations & Corporate Communications +43 1 22422-1174 [email protected] www.strabag.com 82 Investor Presentation January 2023 STRABAG SOCIETAS EUROPAEA