Ferrovial - Annual Report 2012

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Significant events

Significant Events 2012

January 30: Approval of a remuneration package involving the payment of part of the variable remuneration with Company shares

The Company’s Board of Directors has approved a remuneration package in which part of the variable remuneration due to employees for 2011 is paid in Ferrovial, S.A. shares.

This package has been used for variable compensation since 2004, under practically identical terms. The CNMV was informed of the approval of the consecutive packages on February 4, 2005; January 27, 2006; January 30, 2007; February 1, 2008; January 28, 2009; January 28, 2010; and January 31, 2011.

April 23: BAA announces the sale of Edinburgh airport.

BAA has announced that it has reached an agreement to sell 100% of its stake in Edinburgh Airport Limited to Global Infrastructure Partners ("GIP") for 807.2 million pounds. The price will be paid in full when the operation is concluded. The sale is due to be completed at the end of May.

August 17: Ferrovial reaches a deal to transfer a 10.62% stake in FGP Topco Ltd. (BAA’s parent company).

Ferrovial, indirect holder of 49.99% of BAA Ltd. (BAA), has reached a deal with Qatar Holding LLC to transfer a 10.62% stake in FGP Topco Ltd. (BAA’s parent company) at a price of 478 million pounds (607 million euro). Within the same operation, other FGP Topco shareholders will sell 9.38% at the same price per share. The total price of the operation is 900 million pounds (1.144 billion euro). As a result, Qatar Holding LLC will become an indirect holder of 20% de BAA. Ferrovial will be an indirect holder of 39.37% of BAA.

The operation is subject to the authorization of the European competition authorities and it is expected to be completed before the end of the year.

September 14: The companies managing the operation of the Radial 4 toll road agree to file for insolvency

The Boards of Directors of Autopista Madrid Sur Concesionaria Española, S.A. and Inversora de Toll roads del Sur, S.L., companies that operate the Radial 4 toll road in Madrid, owned indirectly by Ferrovial, S.A. and Sacyr Vallehermoso, S.A. as well as by Caja Castilla La Mancha Corporación, S.A., have agreed to file for insolvency.

The Radial 4 project has been directly affected by factors beyond its control (substantial reduction of expected traffic, expropriation cost overrun, financial crisis, etc.), which under current conditions prevent it from meeting its payment obligations to those whose properties were expropriated and to financial institutions.

The decision has been affected by the fact that possible measures supporting the concession, as established by law, were not effectively implemented by the contracting authority.

October 19: The companies managing the operation of the AP-36 Ocaña-La Roda toll road agree to file for insolvency

Autopista Madrid Levante Concesionaria Española, S.A.U. and Inversora de Toll roads de Levante, S.L., companies that operate the AP-36 Ocaña–La Roda toll road, owned indirectly by Ferrovial, S.A. (55%) and Sacyr Vallehermoso, S.A. (40%), as well as by Caja de Ahorros y Monte de Piedad de Gipuzkoa y San Sebastián, S.A. (5%), have agreed to file for insolvency.

October 31: Ferrovial reaches an agreement to transfer a 5.72% stake in FGP Topco Ltd (the parent company of Heathrow Airport Holdings Ltd.)

Ferrovial, indirect holder of 49.99% of Heathrow Airport Holdings Ltd. (previously called BAA Ltd.) until now, has reached a deal with Stable Investment Corporation ("Stable"), a subsidiary wholly owned by CIC International Co., Ltd., to transfer a 5.72% stake in FGP Topco Ltd. (Heathrow Airport Holdings Ltd.’s parent company) at a price of 257.4 million pounds (319.3 million euro).

As part of the same operation, other FGP Topco shareholders have sold 4.28% at the same price per share. As a result, Stable is now an indirect holder of 10% of Heathrow Airport Holdings Ltd.

November 29: The Board of Directors of Ferrovial approves the distribution of an interim dividend of € 1 gross per share

At its meeting on November 29, the Company’s Board of Directors approved the distribution of an interim dividend of € 1 gross per share for 2012, in accordance with Article 277 of the Spanish Corporation Law. The payment was made on December 13, 2012.

The final dividend that the Board of Directors proposed for approval at the Annual General Meeting in 2013 will be of 0.25 euro per share.

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This is an electronic version of the 2012 Annual Report prepared by Ferrovial, S.A. for its stakeholders, which aims to be complete and accurate. The contents of this version can be checked by referring to the print version. A copy of the print version in PDF format is available to download on this web page