Report on Remuneration paid to the Board of Directors

Preparation of the Remuneration Report

The Grupo Ferrovial S.A. Board of Directors Regulations, which were approved on 23 February 2007, establish that the Board must draw up a report on various aspects of the remuneration paid to its members. This report will also be made available to the shareholders.

In compliance with this obligation, which takes its inspiration from the Recommendations of the Unified Code of Good Governance (UCGG), and which comprises a new item in respect of the previously valid text, the Board of Directors draws up this Remuneration Report which, through resolution adopted by the Board, will be supplied to the Company's shareholders on the occasion of the convening of the next Shareholders' Meeting and disseminated through the Web page (www.ferrovial.com).

This Report was examined by the Nomination and Remuneration Committee before being drawn up by the Board of Directors.