Ferrovial : Within the framework of the Ferrovial Flexible Dividend Program, the Company reports the closing of a paid-up capital increase of 1,394,233.60 euro and a payment in cash to its shareholders of approximately 97 million euro

Increases and decreases of share capital. - Information on dividends

Pursuant to the Consolidated Text of the Spanish Securities Market Act (Texto Refundido de laLey del Mercado de Valores), FERROVIAL, S.A. (the Company or FERROVIAL) reports the following:

Further to the communication sent by the Company to the Spanish Securities Market Commission (CNMV) on 4 May 2017 (registration number 251,506), FERROVIAL reports the end, on 23 May 2017, of the trading period of the free-of-charge allocation rights corresponding to the first paid up capital increase implementing the shareholders remuneration program called 'Ferrovial Flexible Dividend'.

Holders of 58.05% of free-of-charge allocation rights (a total of 425,241,256 rights) have received new shares of FERROVIAL. Therefore, the final number of ordinary shares of twenty euro cents (€0.20) par value each issued in the capital increase is 6,971,168, where the nominal amount of the increase is 1,394,233.60 euro, representing an increase of approximately 0.95% of the share capital of FERROVIAL before the capital increase.

Moreover, during the period established for that purpose, holders of 41.95% of free-of-charge allocation rights accepted the irrevocable commitment to purchase rights taken by the Company. Consequently, FERROVIAL acquired 307,307,195 rights for a total gross amount of 96,801,766.43 euro. The Company waived the shares corresponding to the free-of-charge allocation rights acquired by virtue of the mentioned commitment.

The capital increase was closed today, on 26 May 2017.

Likewise, according to the schedule for the execution of the capital increase, the cash payment to shareholders who sold the free-of-charge rights to FERROVIAL was made on 25 May 2017.

It is expected, subject to compliance with all legal requirements (and, in particular, the verification of compliance by the CNMV), that the new shares will be listed on the Madrid, Barcelona, Bilbao and Valencia Stock Exchanges through the Automated Quotation System (Sistema de Interconexión Bursátil) (Continuous Market), on 8 June 2017 and that their ordinary trading will initiate on 9 June 2017.

Madrid, 26 May 2017

Santiago Ortiz Vaamonde

Secretary of the Board of Directors of Ferrovial, S.A.

English translation for information purposes only. In the event of discrepancies between the English and the Spanish version, the Spanish version shall prevail.

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