In 2022, Ferrovial substantially completed the divestment of Services following its last milestone with the sale of Amey.

• Amey: In December 2022, Ferrovial sold Amey to One Equity Partners and Buckthorn Partners. The net consideration (equity value) that Ferrovial receives amounts to c.GBP264.6mn (EUR301.3mn) and remains subject to adjustment in accordance to a customary completion accounts mechanism. The price has been paid partly in cash in an amount of GBP112.8mn EUR132mn; the remaining portion will be paid through a vendor loan note of c.GBP151.8mn (EUR172.8mn), issued at completion and repayable over the next 5 years with an interest rate of 6% per year (increasing to 8% after year 3). The capital gain from the divestment reached EUR58mn in 2022.
• Infrastructure Services in Spain: In January 2022, Ferrovial completed the sale of its Infrastructure Services business in Spain to Portobello Capital for EUR171mn. After the closing of the sale, Ferrovial has acquired 24.99% of the share capital of the acquiring entity for EUR17mn.
• Oil&Gas Services in USA: Ferrovial closed the sale of its activity related to Oil&Gas in USA (Timec) to Architech Equity Holdings for EUR16mn in 2021.
• Environmental Services in Spain: In 2021, Ferrovial completed the sale of the environmental activity in Spain & Portugal to PreZero International GmbH (Group Schwarz) for an equity value of EUR1,032mn. The deal provided a capital gain of EUR335mn.
• Broadspectrum: In June 2020, Ferrovial sold Broadspectrum to Ventia following the agreement reached in December 2019. The transaction price (shares and shareholder loans) amounted to EUR300mn, including the 50% stake in TW Power Services, which was acquired by the JV partner Worley, instead of Ventia.

During the divestment process, Ferrovial has excluded some Services activities from the scope of sale, as these were contracts or businesses related with infrastructure activities which are align with Ferrovial strategy. The infrastructure activities that remain within Ferrovial activity by division are as follows:

• Construction
  • Road maintenance in USA Canada as these two countries need more maintenance during the winter, which is when less construction works are produced and yet there are resources that could help to increase activity during that period.
  • Energy efficiency a growing business that could benefit from the arrival of Next Gen funds.
  • Siemsa focused on industrial maintenance of equipment and electric equipment in Spain.

• Toll Roads
  • ARAVIA maintenance contract for conservation operation of a section of A2 highway in Spain.
  • EMESA maintenance contract of the M-30 road in Madrid (Spain).

• Energy Infrastructure and Mobility
  • Waste Treatment activity in UK: Ferrovial will keep these contracts to reshape the plants and put them in value to sell later.
  • Activity in Chile.