AENZA SAA

25/07/2024 | Press release | Distributed by Public on 25/07/2024 17:17

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2024 AND FOR THE THREE AND SIX MONTH PERIODS THEN ENDED (UNAUDITED) Form 6 K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13a-16 OR 15b-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2024

Commission File Number 001-35991

AENZA S.A.A.

(Exact name of registrant as specified in its charter)

N/A

(Translation of registrant's name into English)

Av. Petit Thouars 4957

Miraflores

Lima 34, Peru

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

AENZA S.A.A. AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS (UNAUDITED)

(Free translation from the original in Spanish)

AENZA S.A.A. AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2024 AND FOR THE THREE AND SIX-MONTH PERIODS THEN ENDED (UNAUDITED)

CONTENTS

Page
Interim Condensed Consolidated Statement of Financial Position 1 - 2
Interim Condensed Consolidated Statement of Income 3
Interim Condensed Consolidated Statement of Comprehensive Income 4
Interim Condensed Consolidated Statement of Changes in Equity 5
Interim Condensed Consolidated Statement of Cash Flows 6
Notes to the Interim Condensed Consolidated Financial Statements 7 - 49
S/ = Peruvian Sol
US$ = United States dollar

- i -

AENZA S.A.A. and Subsidiaries

Interim Condensed Consolidated Statement of Financial Position

As of December 31, 2023, and June 30, 2024

As of As of
December 31, June 30,
In thousands of soles Note 2023 2024
Assets
Current assets
Cash and cash equivalents 9 1,003,888 765,845
Trade accounts receivable, net 10 1,061,801 1,093,646
Accounts receivable from related parties 11 15,443 14,588
Other accounts receivable, net 12 348,072 635,543
Inventories, net 13 360,497 363,441
Prepaid expenses 29,098 22,524
Total current assets 2,818,799 2,895,587
Non-current assets
Trade accounts receivable, net 10 768,971 777,072
Accounts receivable from related parties 11 528,285 545,099
Other accounts receivable, net 12 311,404 252,286
Inventories, net 13 70,282 70,363
Prepaid expenses 14,081 3,968
Investments in associates and joint ventures 14 12,747 13,227
Investment property, net 15 58,260 56,377
Property, plant and equipment, net 15 307,165 302,826
Right-of-use assets, net 15 36,295 30,143
Intangible assets and goodwill, net 15 752,456 725,104
Deferred tax asset 22 255,763 253,643
Total non-current assets 3,115,709 3,030,108
Total assets 5,934,508 5,925,695

- 1 -

AENZA S.A.A. and Subsidiaries

Interim Condensed Consolidated Statement of Financial Position

As of December 31, 2023, and June 30, 2024

As of As of
December 31, June 30,
In thousands of soles Note 2023 2024
Liabilities
Current liabilities
Borrowings 16 516,029 107,255
Bonds 17 81,538 94,932
Trade accounts payable 18 1,164,266 993,806
Accounts payable to related parties 11 44,372 57,676
Current income tax 38,398 17,233
Other accounts payable 19 608,828 578,738
Other provisions 20 117,086 116,631
Total current liabilities 2,570,517 1,966,271
Non-current liabilities
Borrowings 16 306,678 300,622
Bonds 17 741,387 1,401,338
Trade accounts payable 18 4,001 211
Accounts payable to related parties 11 28,564 29,204
Other accounts payable 19 509,311 510,942
Other provisions 20 98,067 105,269
Deferred tax liability 22 188,694 193,830
Total non-current liabilities 1,876,702 2,541,416
Total liabilities 4,447,219 4,507,687
Equity
Capital 21 1,371,965 1,371,965
Other reserves (68,440 ) (73,004 )
Retained earnings (41,148 ) (108,037 )
Equity attributable to controlling interest in the Company 1,262,377 1,190,924
Non-controlling interest 29 224,912 227,084
Total equity 1,487,289 1,418,008
Total liabilities and equity 5,934,508 5,925,695

The accompanying notes are part of the consolidated financial statements.

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AENZA S.A.A. and Subsidiaries

Interim Condensed Consolidated Statement of Profit or Loss

For the periods ended June 30, 2023, and 2024

For the three-month period For the six-month period
ended June 30, ended June 30,
In thousands of soles Note 2023 2024 2023 2024
Revenue
Revenue from construction activities 589,395 547,282 1,038,038 1,093,265
Revenue from services provided 259,763 253,942 516,343 532,576
Revenue from real estate and sale of goods 187,763 169,992 332,678 342,660
Total revenue from ordinary activities arising from contracts with customers 23 1,036,921 971,216 1,887,059 1,968,501
Cost
Cost of construction activities (561,255 ) (535,388 ) (1,019,147 ) (1,082,189 )
Cost of services provided (201,509 ) (186,615 ) (399,933 ) (379,957 )
Cost of real estate and sale of goods (139,871 ) (133,176 ) (252,771 ) (262,319 )
Cost of sales and services 24 (902,635 ) (855,179 ) (1,671,851 ) (1,724,465 )
Gross profit 134,286 116,037 215,208 244,036
Administrative expenses 24 (57,060 ) (54,691 ) (102,923 ) (104,464 )
Other income and expenses 25 568 574 1,001 (456 )
Operating profit 77,794 61,920 113,286 139,116
Financial expenses 26.A (44,625 ) (58,162 ) (86,437 ) (118,520 )
Financial income 26.A 8,132 5,726 26,164 13,275
Interests for present value of financial asset or liability 26.B 6,357 (12,434 ) 20,163 (14,739 )
Share of the profit or loss of associates and joint
ventures accounted for using the equity method 		14 792 822 1,656 1,630
Profit before income tax 48,450 (2,128 ) 74,832 20,762
Income tax expense 27 (40,032 ) (35,600 ) (72,413 ) (58,025 )
Profit (loss) for the period 8,418 (37,728 ) 2,419 (37,263 )
Profit (loss) attributable to:
Controlling interest in the Company (5,174 ) (51,349 ) (22,562 ) (66,889 )
Non-controlling interest 13,592 13,621 24,981 29,626
8,418 (37,728 ) 2,419 (37,263 )
Loss per share attributable to controlling
interest in the Company during the period 		31 (0.004 ) (0.038 ) (0.019 ) (0.049 )
Diluted loss per share attributable to controlling
interest in the Company during the period 		31 (0.004 ) (0.038 ) (0.019 ) (0.049 )

The accompanying notes are part of the consolidated financial statements.

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AENZA S.A.A. and Subsidiaries

Interim Condensed Consolidated Statement of Other Comprehensive Income

For the periods ended June 30, 2023, and 2024

For the three-month period For the six-month period
In thousands of soles ended June 30, ended June 30,
2023 2024 2023 2024
Profit (loss) for the period 8,418 (37,728 ) 2,419 (37,263 )
Other comprehensive income:
Items that may be subsequently reclassified to profit or loss
Foreign currency translation adjustment, net of tax 9,001 (9,160 ) 9,173 (4,575 )
Exchange difference from net investment in a foreign operation, net of tax (243 ) - 79 (1 )
Other comprehensive income for the period, net of tax 8,758 (9,160 ) 9,252 (4,576 )
Total comprehensive income for the period 17,176 (46,888 ) 11,671 (41,839 )
Comprehensive income attributable to:
Controlling interest in the Company 2,693 (60,458 ) (13,345 ) (71,453 )
Non-controlling interest 14,483 13,570 25,016 29,614
17,176 (46,888 ) 11,671 (41,839 )

The accompanying notes are part of the consolidated financial statements.

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AENZA S.A.A. and Subsidiaries

Interim Condensed Consolidated Statement of Changes in Equity

For the periods ended June 30, 2023, and 2024

Number of Non-
shares in Legal Voluntary Share Other Retained controlling
In thousands of soles Note thousands Capital reserve reserve premium reserves earnings Total interest Total
Balances as of January 1, 2023 1,196,980 1,196,980 132,011 29,974 1,142,092 (97,191 ) (1,342,362 ) 1,061,504 284,502 1,346,006
Profit (loss) for the period - - - - - - (22,562 ) (22,562 ) 24,981 2,419
Foreign currency translation adjustment - - - - - 9,138 - 9,138 35 9,173
Exchange difference from net investment in a foreign operation - - - - - 79 - 79 - 79
Comprehensive income of the period - - - - - 9,217 (22,562 ) (13,345 ) 25,016 11,671
Transactions with shareholders:
Dividend distribution 30 - - - - - - - - (50,735 ) (50,735 )
Acquisition of (profit distribution to) non-controlling
interests, net 		- - - - - - - - (9,889 ) (9,889 )
Total transactions with shareholders - - - - - - - - (60,624 ) (60,624 )
Balances as of June 30, 2023 1,196,980 1,196,980 132,011 29,974 1,142,092 (87,974 ) (1,364,924 ) 1,048,159 248,894 1,297,053
Balances as of January 1, 2024 1,371,965 1,371,965 - - - (68,440 ) (41,148 ) 1,262,377 224,912 1,487,289
Profit (loss) for the period - - - - - - (66,889 ) (66,889 ) 29,626 (37,263 )
Foreign currency translation adjustment - - - - - (4,564 ) - (4,564 ) (11 ) (4,575 )
Exchange difference from net investment in a foreign operation - - - - - - - - (1 ) (1 )
Comprehensive income of the period - - - - - (4,564 ) (66,889 ) (71,453 ) 29,614 (41,839 )
Transactions with shareholders:
Dividend distribution 30 - - - - - - - - (24,618 ) (24,618 )
Acquisition of (profit distribution to) non-controlling
interests, net 		- - - - - - - - (2,824 ) (2,824 )
Total transactions with shareholders - - - - - - - - (27,442 ) (27,442 )
Balances as of June 30, 2024 1,371,965 1,371,965 - - - (73,004 ) (108,037 ) 1,190,924 227,084 1,418,008

The accompanying notes are part of the consolidated financial statements.

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AENZA S.A.A. and Subsidiaries

Interim Condensed Consolidated Statement of Cash Flows

For the periods ended June 30, 2023, and 2024

For the three-month period For the six-month period
ended June 30, ended June 30,
In thousands of soles Note 2023 2024 2023 2024
Operating activities
Profit (loss) before income tax 48,450 (2,128 ) 74,832 20,762
Adjustments to profit not affecting cash flows from operating activities:
Depreciation 15 17,442 14,874 35,378 28,494
Amortization of intangible assets 15 39,775 34,848 75,061 66,105
Reversal of impairment of inventories (385 ) - - -
Impairment (reversal) of accounts receivable and other accounts receivable 4,522 (9 ) 2,180 110
Debt condonation - - (192 ) -
Impairment of property, plant and equipment 1,309 - 1,318 -
Other provisions 3,067 4,393 9,122 10,070
Financial expense, net 16,564 78,739 46,797 123,526
Insurance recovery - (51 ) - (75 )
Share of the profit and loss of associates and joint ventures accounted for using the equity method 14 (792 ) (822 ) (1,656 ) (1,630 )
Reversal of provisions (1,255 ) (731 ) (4,726 ) (1,300 )
Reversal of disposal of assets (723 ) (137 ) (1,258 ) (666 )
(Profit) loss on sale of property, plant and equipment and intangible assets 1,301 (2,549 ) 881 (3,036 )
(Profit) loss on remeasurement of accounts receivable and accounts payable (7,781 ) 12,533 (20,322 ) 14,838
Net variations in assets and liabilities:
Trade accounts receivable (34,412 ) 40,870 1,720 (39,955 )
Other accounts receivable 7,825 (61,900 ) (16,060 ) (49,167 )
Other accounts receivable from related parties 16,090 (19,585 ) (7,313 ) (16,750 )
Inventories (1,538 ) (8,783 ) (46,094 ) (2,508 )
Prepaid expenses and other assets 11,292 18,109 (15,690 ) 23,626
Trade accounts payable 16,370 (69,266 ) (8,799 ) (188,411 )
Other accounts payable 86,817 (69,576 ) 147,163 (31,785 )
Other accounts payable to related parties (25,772 ) 17,343 (5,615 ) 17,078
Other provisions (1,734 ) (3,610 ) (4,960 ) (4,855 )
Interest paid (38,120 ) (131,611 ) (79,532 ) (172,206 )
Payments for purchases of intangible assets - Concessions - (1,198 ) - (2,904 )
Income tax paid (26,771 ) (41,086 ) (88,474 ) (74,625 )
Net cash provided by (applied to) operating activities 131,541 (191,333 ) 93,761 (285,264 )
Investing activities
Proceeds from sale of property, plant and equipment and intangible assets - 5,239 1,043 5,955
Interest received 7,047 5,703 13,782 13,223
Dividends received 3,652 1,145 3,652 1,145
Acquisition of investment property - - (2 ) (51 )
Acquisition of intangible assets (37,572 ) (33,588 ) (85,374 ) (40,169 )
Acquisition of property, plant and equipment (10,282 ) (8,840 ) (22,311 ) (18,881 )
Net cash applied to investing activities (37,155 ) (30,341 ) (89,210 ) (38,778 )
Financing activities
Borrowing received 40,926 29,280 171,066 70,269
Bonds issued
Amortization of borrowings received (35,969 ) (439,244 ) (104,793 ) (493,312 )
Amortization of bonds issued (16,051 ) (20,028 ) (33,845 ) (38,092 )
Payment for debt transaction costs 1,819 (21,062 ) (17 ) (21,261 )
Dividends paid to non-controlling interest (22,256 ) (4,197 ) (47,044 ) (14,851 )
Cash received (return of contributions) from non-controlling shareholders (673 ) (4,000 ) (9,889 ) (4,000 )
Net cash provided by (applied to) financing activities (32,204 ) (459,251 ) (24,522 ) (501,247 )
Net increase (decrease) in cash 62,182 (680,925 ) (19,971 ) (825,289 )
Exchange difference 3,463 4,651 (6,358 ) 1,079
Cash and cash equivalents at the beginning of the period 825,580 855,952 917,554 1,003,888
Cash and cash equivalents at the end of the period 9 891,225 179,678 891,225 179,678
Non-cash transactions:
Capitalization of interests 99 248 290 517
Dividends declared to non-controlling interest - 17,852 - 17,852
Acquisition of right-of-use assets 985 1,879 2,669 2,375
Transfer to restricted funds - 193,647 - 193,647

The accompanying notes are part of the consolidated financial statements.

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

1. General Information

A. Incorporation and operations

AENZA S.A.A. (hereinafter the "Company" or "AENZA") is the parent Company of the AENZA Corporation, which comprise the Company and its subsidiaries (hereinafter, the "Corporation") and is mainly engaged in holding investments in its subsidiaries. Additionally, the Company provides specialized management consulting services and operational leasing of offices to the companies of the Corporation. The Company registered office is at Av. Petit Thouars N° 4957, Miraflores, Lima.

The Corporation is a conglomerate of companies with operations including different business activities, the most significant are engineering and construction, energy, infrastructure (public concession ownership and operation) and real estate businesses. See details of operating segments in note 7.

B. Authorization for Financial Statements Issuance

The interim condensed consolidated financial statements for the period ended June 30, 2024, have been authorized by Management and the Board of Directors on July 24, 2024.

The consolidated financial statements for the year ended December 31, 2023 were approved by the General Shareholders' Meeting on March 27, 2024.

C. Compliance with laws and regulations

As a result of the investigations into the cases known as Club de la Construccion and Lava Jato, AENZA has entered into an effective collaboration process. On September 15, 2022, the Plea Agreement (the Agreement), was entered into between the Public Prosecutor's Office, the Attorney General's Office and the Company, whereby AENZA accepted they were utilized by certain former executives to commit illicit acts in a series of periods until 2016 and committed to pay a civil penalty to the Peruvian Government of approximately S/488.9 million (approximately S/333.3 million and US$40.7 million). Agreement was homologated by judgment dated August 11, 2023 and entered into force with its consent, which was notified to AENZA on December 11, 2023.

According to the Agreement, payment shall be made within twelve (12) years at a legal interest rate in soles and dollars (3.1% and 1.9% annual interest as of June 30, 2024, respectively). The Company also undertakes to establish a series of guarantees through a trust composed of: i) a trust agreement that includes shares issued by a subsidiary of the Company, ii) mortgage on a property owned by the Company, and iii) a guarantee account with funds equivalent to the annual installment for the following year. Among other conditions, the Agreement includes a restriction for AENZA and subsidiaries Cumbra Peru S.A. and UNNA Transporte S.A.C. to participate in public infrastructure and construction, and road maintenance contracts for two (2) years from the approval of the Agreement. The other member companies of the Corporation are not subject to any impediment or prohibition to contract with the Peruvian Government.

On December 27, 2023, the initial installment of the Civil Compensation was paid to the Peruvian Government for S/10.3 million and US$1.2 million. As of June 30, 2024, the balance amounts to S/480.9 million (S/469.8 million as of December 31, 2023) (see note 19.a).

Pursuant to the provisions of the Agreement that excludes AENZA from the scope of Law 30737, the company has requested the Ministry of Justice to exclude it from the Lists of Category 2 and 3 Subjects provided for in said law.

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

D. NYSE Delisting and SEC Deregistration of the ADSs issued by AENZA.

On October 31, 2023, AENZA's Board of Directors decided to initiate the delisting process of shares, represented by American Depositary Securities (ADSs), on the New York Stock Exchange (NYSE), and the deregistration process of such instruments with the Securities and Exchange Commission of the United States of America (SEC) and the termination of the ADS Program.

In the opinion of Management and the Board of Directors, this decision will generate efficiencies for the Company, considering the low liquidity of the ADSs and the high annual costs of NYSE listing and SEC registration, and will not affect the Company's long-term plans. AENZA's shares will continue to be listed on the Lima Stock Exchange (BVL).

December 7, 2023, was the last day of trading of the ADSs on the NYSE. AENZA will file a Form 15F with the SEC to terminate its obligations under Section 13(a) and 15(d) of the U.S. Securities Act of 1933 upon compliance with the requirements of such legislation.

2. Basis of preparation and Summary of Material Accounting Policies

The interim condensed consolidated financial statements for the period ended June 30, 2024, have been prepared in accordance with IAS 34 "Interim Financial Reporting". The interim condensed consolidated financial statements provide comparative information regarding prior year; however, they do not include all the information and disclosures required in the consolidated financial statements, so they must be read together with the annual consolidated financial statements, which have been prepared in accordance with International Standards of Financial Information (hereinafter "IFRS"). The interim condensed consolidated financial statements are presented in thousands of Peruvian Soles S/(000), unless otherwise stated.

Management continues to have a reasonable expectation that the Corporation has adequate resources to continue in operation for a reasonable period of time and that the going concern basis of accounting remains appropriate. Management believes that there are no material uncertainties that may cause significant doubt about this assumption, and that there is a reasonable expectation that the Corporation has adequate resources to continue operations for the expected future, and not less than 12 months from the end of the reporting period.

The accounting policies used in the preparation of these interim condensed consolidated financial statements are consistent with those applied in the preparation of the consolidated financial statements as of December 31, 2023.

3. Standards, amendments, and interpretation adopted by the Corporation

Standards, amendments and interpretation that have entered in force as of January 1, 2024, have not had impact on the interim condensed consolidated financial statements as of June 30, 2024, and for this reason they have not been disclosed. The Corporation has not adopted in advance any amendment and modification that are not yet effective.

4. Financial Risk Management

The Corporation's Management is responsible for managing financial risks. The corporation Management manages the general administration of financial risks such risks include currency risk, price risk, fair-value and cash-flow interest rate risks, credit risk, the use of derivative and non-derivative financial instruments, and investment of liquidity surplus, as well as financial risks; all of which are regularly supervised and monitored.

A. Financial risk factors

The Corporation's activities expose it to a variety of financial risks: market risks (including currency risk, price risk, fair-value and cash-flow interest rate risks), credit risk, and liquidity risk.

The Corporation's general program for risk management is mainly focused on financial market unpredictability and seeks to minimize potential adverse effects on the Corporation's financial performance.

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

a) Market risks

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market prices. Market prices involve four types of risk: interest rate risk, exchange rate risk, commodity price risk and other price risks. Financial instruments affected by market risk include bank deposits, trade accounts receivable, other accounts receivable, other financial liabilities, bonds, trade accounts payable, other accounts payable and accounts receivable from and payable to related parties.

i) Currency risk

Foreign exchange risk is the risk that the fair value of future cash flows of a financial instrument will be reduced by adverse fluctuations in exchange rates. Management is responsible for identifying, measuring, controlling and reporting the exposure to foreign exchange risk.

The Corporation is exposed to foreign exchange risk arising from local transactions in foreign currencies and from its foreign operations. As of December 31, 2023 and June 30, 2024, this exposure is focused mainly on fluctuations of the U.S. dollar, Chilean peso, and Colombian peso. The Corporation's management monitors this risk by analyzing the country's macroeconomic variables.

The balances of financial assets and liabilities denominated in foreign currencies correspond to balances in U.S. Dollars, Chilean pesos and Colombian pesos, which are stated exchange rate published on that date, according to the currency type:

As of
December 31, 		As of
June 30,
2023 2024
Buy Sale Buy Sale
U.S. Dollars (a) 3.705 3.713 3.827 3.837
Chilean Peso (b) 0.004224 0.004233 0.004053 0.004063
Colombian Peso (c) 0.000969 0.000971 0.000923 0.000925
(a) U.S. Dollar as published by the Superintendencia de Bancos, Seguros y Administradoras de Fondos de Pensiones (hereinafter "SBS").
(b) Chilean peso as published by the Banco Central de Chile.
(c) Colombian peso as published by Banco de la Republica de Colombia.

The consolidated statement of financial position as of December 31, 2023 and June 30, 2024, includes the following:

As of As of
December 31, June 30,
In thousands of US dollars 2023 2024
Assets
Cash and cash equivalents 105,542 78,643
Trade accounts receivable, net 174,305 161,724
Accounts receivable from related parties 142,435 142,435
Other accounts receivable 85,535 134,731
507,817 517,533
Liabilities
Borrowings (213,821 ) (98,220 )
Bonds (3,890 ) (178,594 )
Trade accounts payable (152,383 ) (152,828 )
Accounts payable to related parties (3,504 ) (3,641 )
Other accounts payable (64,277 ) (68,027 )
Other provisions (2,032 ) (2,032 )
(439,907 ) (503,342 )

The Corporation assumes foreign exchange risk because it does not use derivative financial instruments to mitigate exchange rate fluctuations.

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

For the periods ended June 30, 2023 and 2024, the Corporation's exchange gains and losses (see note 26.A):

In thousands of soles 2023 2024
Gain 140,690 21,976
Loss (128,311 ) (41,276 )
12,379 (19,300 )

The consolidated statement of changes in equity comprises a foreign currency translation adjustment originated by its subsidiaries. The consolidated statement of financial position includes the following assets and liabilities in its currency (in thousands):

As of
December 31, 		As of
June 30,
2023 2024
Assets Liabilities Assets Liabilities
Chilean Peso 37,715,040 53,101,695 34,685,059 36,957,835
Colombian Peso 183,305,679 125,307,739 188,387,215 137,482,759

ii) Price risk

The Corporation is exposed to the risk of hydrocarbon price fluctuations which impacts on the selling price of the products that it commercializes, which are significantly affected by changes in global economic conditions, resource availability, and the cycles of related industries. Management considers reasonable these possible fluctuations in the hydrocarbons prices, based in the Corporation´s economic market environment.

iii) Fair-value and cash flow interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market interest rates.

The Corporation's interest rate risk arises mainly from its long-term borrowings. Variable rate long-term financial liabilities expose the Corporation to cash-flow interest rate risk. Fixed-rate financial liabilities expose the Corporation to fair-value interest rate risk.

The Corporation assumes the interest rate risk, due to they do not use financial derivative instruments for mitigate variations in the interest rate risk.

b) Credit risk

Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or commercial contract, resulting in a financial loss.

Credit risk for the Corporation arises from its operating activities due to credit exposure to customers and from its financial activities, including deposits with banks and financial institutions, foreign exchange transactions, and other financial instruments. The maximum exposure to credit risk for the consolidated financial statements as of December 31, 2023 and June 30, 2024 is represented by the sum of cash and cash equivalents (note 9), trade accounts receivable (note 10), accounts receivable from related parties (note 11) and other accounts receivable (note 12).

Customer credit risk is managed by Management subject to the Corporation's established policies, procedures and control related to customer credit risk management. The credit quality of a customer is assessed based on an extensive credit rating scorecard and individual credit limits are defined based on this assessment. The maximum credit risk exposure at the reporting date is the carrying value of each class of financial assets disclosed in note 10.

The Corporation assesses the concentration of risk with respect to trade accounts receivable as low risk because sales are not concentrated in small customer groups and no customers account for 10% or more of the Corporation's revenues.

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

Management monitors the credit risk of other receivables on an ongoing basis and assesses those receivables that show evidence of impairment to determine the required allowance for doubtful accounts.

Concerning loans to related parties, the Corporation has measures in place to ensure the recovery of these loans through the controls maintained by Corporate Finance Management and the performance evaluation conducted by the Board of Directors (note 11).

Management does not expect the Corporation to incur in losses arisen from the performance of these counterparties, except for the ones already recorded at the consolidated financial statements.

c) Liquidity risk

Prudent liquidity risk management implies holding enough cash and cash equivalents, and financing available through a proper number of credit sources, and the ability to close positions in the market. Historically, the Corporation's cash flows from operations have enabled it to meet its obligations. The Corporation has implemented various actions to reduce its exposure to liquidity risk and has developed a financial plan based on several steps, which were designed with a commitment to compliance within a reasonable period of time. The financial plan is intended to meet the various obligations at the Company and Corporation entities levels.

The Corporate Finance Office monitors the cash flow projections made on liquidity requirements of the Corporation to ensure it exists sufficient cash to meet operational needs so that the Corporation does not breach borrowing limits or covenants, where applicable, on any of its borrowing facilities. Less significant financing transactions are controlled by the Finance Management of each subsidiary.

Such forecasting takes into consideration the Corporation's debt financing plans, covenant compliance, compliance with ratio targets in the statement of financial position and, if applicable, with external regulatory or legal requirements.

As of June 30, 2024, the Company has a payment obligation arising from the Plea Agreement (note 1.C). Management developed a financial plan in order to cover the aforementioned obligation and other operating cash requirements (note 18.a).

Cash surplus on the amounts required for the administration of working capital are invested in checking accounts that generate interest and time deposits, selecting instruments with appropriate maturities or sufficient liquidity.

The table below analyzes the Corporation's financial liabilities grouped according to the remaining period from the date of the statement of financial position to the date of maturity. The amounts disclosed in the table below are the contractual undiscounted cash flows, which include interest to be accrued according to the established schedule.

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

Contractual cash flows
Carrying Less than 1-2 2-5 More than
In thousands of soles amount 1 year years years 5 years Total
As of December 31, 2023
Other financial liabilities (except lease liability for right-of-use asset) 780,145 568,284 165,022 163,943 - 897,249
Lease liability for right-of-use asset 42,562 17,754 23,487 8,725 73 50,039
Bonds 822,925 140,546 177,121 345,473 679,085 1,342,225
Trade accounts payables (except non-financial liabilities) 1,168,267 1,164,266 4,001 - - 1,168,267
Accounts payables to related parties 72,936 44,372 28,564 - - 72,936
Other accounts payables and other provisions (except non-financial liabilities) 673,663 195,279 57,601 138,356 410,377 801,613
3,560,498 2,130,501 455,796 656,497 1,089,535 4,332,329
As of June 30, 2024
Other financial liabilities (except lease liability for right-of-use asset) 370,697 114,368 155,446 165,606 - 435,420
Lease liability for right-of-use asset 37,180 16,378 22,842 3,842 68 43,130
Bonds 1,496,270 249,916 227,708 1,381,536 599,038 2,458,198
Trade accounts payables (except non-financial liabilities) 994,017 993,806 211 - - 994,017
Accounts payables to related parties 86,880 57,676 29,204 - - 86,880
Other accounts payables and other provisions (except non-financial liabilities) 671,787 184,525 55,361 144,788 404,473 789,147
3,656,831 1,616,669 490,772 1,695,772 1,003,579 4,806,792

B. Capital management

The Corporation's objective in managing capital is to safeguard its ability to continue operations as a going concern basis in order to generate returns to its shareholders, benefits to stakeholders and keep an optimal capital structure to reduce capital cost. The Corporation´s situation has led management to monitor deviations that could cause noncompliance with covenants and hinder the renegotiation of liabilities (note 16). In special situations and events, the Corporation identifies potential deviations, requirements and establishes a plan.

The Corporation may adjust the amount of dividends payable to shareholders, return capital to shareholders, issue new shares or sell assets to reduce its debt to maintain or adjust the capital structure.

The Corporation monitors its capital based on the leverage ratio. This ratio is calculated as net debt divided by the sum of net debt plus equity. The net debt corresponds to the total financial liabilities (including current and non-current indebtedness) adding the provision for civil compensation less cash and cash equivalents.

As of December 31, 2023 and June 30, 2024, the leverage ratio is as follows:

As of As of
December 31, June 30,
In thousands of soles Note 2023 2024
Total borrowing, bonds and civil compensation (*) 16 and 17 2,115,471 2,385,080
Less: Cash and cash equivalents 9 (1,003,888 ) (765,845 )
Net debt (a) 1,111,583 1,619,235
Total equity (b) 1,487,289 1,418,008
Total net debt plus equity (a) + (b) 2,598,872 3,037,243
Gearing ratio 0.43 0.53
(*) As of June 30, 2024, the provision for civil compensation amounts to S/480.9 million (S/469.8 as of December 31, 2023).

During the periods ended December 31, 2023 and June 30, 2024, there were no changes in the objectives, policies or processes related to capital management.

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

5. Critical Accounting Estimates and Judgments

Estimates and judgments used are continuously evaluated and are based on historical experience among other factors, including expectations of future events that are believed to be reasonable under current circumstances.

In preparing these interim condensed consolidated financial statements, the significant judgements made by management in applying Corporation's accounting policies and the key sources of uncertainty were the same as those that applied to the consolidated financial statements for the year ended December 31, 2023, except for:

Revenue recognition by completion percentage (A.iii)

As of December 31, 2023, the Corporation recognized service revenue from construction contracts on a percentage-of-completion basis in accordance with the product method; however, given the current terms of customer contracts awarded beginning in 2024, management believes that the method that best reflects and measures the transfer of control of goods and services to its customers and full satisfaction of the performance obligation is the recourse method. Therefore, beginning in 2024, the Corporation applies the recourse method to measure the progress of all of its contractual performance obligations being satisfied over time.

6. Seasonality of Operations

The Corporation does not present seasonality in the operations of any of its subsidiaries; and develop its business during the normal course of the period.

7. Operating Segments

Operating segments are reported consistently with the internal reports that are reviewed by Corporation's, chief decision-maker; that is the Executive Committee, which is led by the Chief Executive Officer. This Committee acts as the highest authority in making operational decisions, responsible for allocating resources and evaluating the performance of each operating segment.

Corporation's operating segments are assessed by the activities of the following business units: (i) engineering and construction, (ii) energy, (iii) infrastructure, and (iv) real estate.

As set forth under IFRS 8, reportable segments by significance of income are: 'engineering and construction', 'energy' and 'infrastructure'. However, Management has voluntarily decided to report on all its operating segments.

The Corporation has determined four reportable segments. These operating segments are components of an enterprise for which separate financial information is available and periodically evaluated by the Corporate Governance Board to decide how to allocate resources and assess performance.

The operations of Corporation in each reportable segment are as follows:

(a) Engineering and construction: This segment includes traditional engineering services such as architectural planning, structural, civil and design engineering for advanced specialties including process design, simulation, and environmental services, as well as construction at three divisions: i) civil works, such as the construction of hydroelectric power stations and other large infrastructure facilities; (ii) electromechanical construction, such as concentrator plants, oil and natural gas pipelines, and electric transmission lines; and iii) building construction, such as offices, residential buildings, hotels, and affordable housing projects, shopping centers, and industrial facilities.

- 13 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

(b) Energy: This segment includes oil exploration, exploitation, production, treatment, and trade in four oil deposits, separation and trade of natural gas and its byproducts at the gas processing plant, as well as the construction and assembly of oil facilities or those linked to the oil and gas industry. It also includes storage and dispatch of fuel and oil byproducts.
(c) Infrastructure: The Corporation has long-term concessions or similar contractual arrangements in Peru for three highways with tolls, Lima Metro, a sewage treatment plant in Lima, and operation and maintenance services for infrastructure assets.
(d) Real Estate: The Corporation mainly develops and sells properties for low- and middle-resource sectors, which are experiencing a significant increase in available income, as well as luxury properties to a lesser degree, it also develops commercial spaces and offices.

The Executive Commitee uses the Adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) as the primary relevant measure to understand the Corporation's operating performance and its operating segments.

Adjusted EBITDA is not a measurement of results based on International Financial Reporting Standards. The Corporation's definition related to adjusted EBITDA may not be comparable to similar performance measures and disclosures from other entities.

The adjusted EBITDA is reconciled to profit as follows:

For the three-month period For the six-month period
ended June 30, ended June 30,
In thousands of soles 2023 2024 2023 2024
Net profit (loss) 8,418 (37,728 ) 2,419 (37,263 )
Financial income and expenses 36,493 52,436 60,273 105,245
Interests for present value of financial asset or liability (6,357 ) 12,434 (20,163 ) 14,739
Income tax 40,032 35,600 72,413 58,025
Depreciation and amortization 57,217 49,722 110,439 94,599
Adjusted EBITDA 135,803 112,464 225,381 235,345

The adjusted EBITDA with non-recurring items per segment is as follows:

For the three-month period For the six-month period
ended June 30, ended June 30,
In thousands of soles 2023 2024 2023 2024
Engineering and construction 162 (9,660 ) (29,381 ) (29,413 )
Energy 44,996 57,098 100,841 113,928
Infrastructure 62,243 56,491 118,714 129,708
Real estate 29,097 8,146 31,145 20,063
Parent company operations (3,719 ) 31,498 (143 ) 49,737
Intercompany eliminations 3,024 (31,109 ) 4,205 (48,678 )
135,803 112,464 225,381 235,345

Inter-segmental sales transactions are entered into prices similar to those that would have been agreed with unrelated third parties. Revenues from external customers reported are measured in a consistent manner under the basis for preparation of the consolidated financial statements. Sales of goods are related to real estate segment. Revenues from services are related to other segments.

Corporation sales and receivables are not concentrated on a few customers. There is no external customer that represents 10% or more of Corporation's revenue.

- 14 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

The following are the Corporation's financial statements by operating segment:

Engineering Infrastructure Parent
In thousands of soles and
construction 		Energy Toll roads Transportation Water
treatment 		Real
estate 		Company
operations 		Eliminations Consolidated
As of December 31, 2023
Assets
Cash and cash equivalent 342,120 40,707 124,283 134,252 3,235 175,920 183,371 - 1,003,888
Trade accounts receivables, net 783,231 119,948 26,353 127,336 943 3,038 952 - 1,061,801
Accounts receivable from related parties 57,024 642 59,279 3,569 643 406 161,430 (267,550 ) 15,443
Other accounts receivable, net 265,378 40,298 21,101 6,372 1 10,418 6,849 (2,345 ) 348,072
Inventories, net 51,108 46,064 6,760 43,993 - 212,582 - (10 ) 360,497
Prepaid expenses 15,461 2,022 4,651 334 169 71 6,388 2 29,098
Total current assets 1,514,322 249,681 242,427 315,856 4,991 402,435 358,990 (269,903 ) 2,818,799
Trade accounts receivable, net 744 - 6,430 756,990 1,453 3,354 - - 768,971
Accounts receivable from related parties 298,946 - 17,157 42 14,015 - 419,282 (221,157 ) 528,285
Prepaid expenses - 480 11,920 1,611 580 - - (510 ) 14,081
Other accounts receivable, net 102,250 77,116 - - 7,346 59,764 64,928 - 311,404
Inventories, net - - - - - 70,282 - - 70,282
Investments in associates and joint ventures 968 10,536 - - - 2,103 1,737,129 (1,737,989 ) 12,747
Investment property, net - - - 1,427 - 18,203 38,630 - 58,260
Property, plant and equipment, net 83,146 211,127 5,187 1,047 233 5,562 863 - 307,165
Intangible assets and goodwill, net 143,228 370,370 225,363 138 - 617 12,740 - 752,456
Right-of-use assets, net 4,874 8,270 3,226 25 122 1,317 28,700 (10,239 ) 36,295
Deferred income tax asset 153,841 5,142 24,098 - 421 15,577 56,670 14 255,763
Total non-current assets 787,997 683,041 293,381 761,280 24,170 176,779 2,358,942 (1,969,881 ) 3,115,709
Total assets 2,302,319 932,722 535,808 1,077,136 29,161 579,214 2,717,932 (2,239,784 ) 5,934,508
Liabilities
Borrowings 24,081 39,052 15,358 26 5 11,618 437,729 (11,840 ) 516,029
Bonds 3,611 - 49,369 28,558 - - - - 81,538
Trade accounts payable 928,109 111,816 48,232 38,272 121 21,622 16,094 - 1,164,266
Accounts payable to related parties 78,561 80,357 47,599 69,632 7 10,990 17,154 (259,928 ) 44,372
Current income tax 19,370 677 3,159 13,160 54 323 1,655 - 38,398
Other accounts payable 416,927 26,122 34,045 10,429 1,167 86,968 33,170 - 608,828
Provisions 83,831 20,215 1,171 1,925 - 193 9,751 - 117,086
Total current liabilities 1,554,490 278,239 198,933 162,002 1,354 131,714 515,553 (271,768 ) 2,570,517
Borrowings 697 84,989 594 - 123 73,058 147,399 (182 ) 306,678
Bonds 10,834 - 130,750 599,803 - - - - 741,387
Trade accounts payable - - - 4,001 - - - - 4,001
Other accounts payable 47,984 - 493 161 3,141 - 457,532 - 509,311
Accounts payable to related parties 7,481 - 1,226 28,563 23,146 - 197,485 (229,337 ) 28,564
Provisions 12,366 46,287 10,002 2,228 - - 27,184 - 98,067
Deferred tax liability 58,804 66,415 - 63,473 - - 2 - 188,694
Total non-current liabilities 138,166 197,691 143,065 698,229 26,410 73,058 829,602 (229,519 ) 1,876,702
Total liabilities 1,692,656 475,930 341,998 860,231 27,764 204,772 1,345,155 (501,287 ) 4,447,219
Equity attributable to controlling interest in the Company 604,039 424,874 146,259 162,680 1,397 289,942 1,369,744 (1,736,558 ) 1,262,377
Non-controlling interest 5,624 31,918 47,551 54,225 - 84,500 3,033 (1,939 ) 224,912
Total liabilities and equity 2,302,319 932,722 535,808 1,077,136 29,161 579,214 2,717,932 (2,239,784 ) 5,934,508

- 15 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

Engineering Infrastructure Parent
In thousands of soles and
Construction 		Energy Toll
roads 		Transportation Water treatment Real estate Company
operations 		Eliminations Consolidated
As of June 30, 2024
Assets
Cash and cash equivalents 126,903 94,237 131,624 125,666 4,065 160,101 123,249 - 765,845
Trade accounts receivables, net 807,573 104,835 45,726 129,023 1,555 3,024 1,910 - 1,093,646
Accounts receivable from related parties 73,080 286 63,353 586 332 150 228,328 (351,527 ) 14,588
Other accounts receivable, net 305,256 30,120 17,438 6,687 1 4,695 273,693 (2,347 ) 635,543
Inventories, net 43,568 43,055 6,149 43,115 - 227,550 - 4 363,441
Prepaid expenses 9,920 5,703 2,673 2,618 95 99 1,416 - 22,524
Total current assets 1,366,300 278,236 266,963 307,695 6,048 395,619 628,596 (353,870 ) 2,895,587
Trade accounts receivable, net 262 - 6,189 766,338 1,284 2,999 - - 777,072
Accounts receivable from related parties 308,245 - 17,721 3,064 14,015 6,046 435,823 (239,815 ) 545,099
Prepaid expenses - 487 1,893 1,544 554 - - (510 ) 3,968
Other accounts receivable, net 36,060 72,241 - - 7,346 63,855 65,932 6,852 252,286
Inventories, net - - - - - 70,363 - - 70,363
Investments in associates and joint ventures 176 11,021 - - - 2,103 1,699,460 (1,699,533 ) 13,227
Investment property, net - - - 1,388 - 17,341 37,648 - 56,377
Property, plant and equipment, net 79,156 210,796 4,744 1,032 217 5,876 1,005 - 302,826
Intangible assets and goodwill, net 135,936 376,665 199,415 92 - 585 12,411 - 725,104
Right-of-use assets, net 2,536 5,734 1,861 3 117 662 24,385 (5,155 ) 30,143
Deferred income tax asset 145,627 5,844 26,319 - 471 15,003 60,383 (4 ) 253,643
Total non-current assets 707,998 682,788 258,142 773,461 24,004 184,833 2,337,047 (1,938,165 ) 3,030,108
Total assets 2,074,298 961,024 525,105 1,081,156 30,052 580,452 2,965,643 (2,292,035 ) 5,925,695
Liabilities
Borrowings 17,536 39,110 14,980 4 5 14,814 27,335 (6,529 ) 107,255
Bonds 3,732 - 49,385 29,466 - - 12,349 - 94,932
Trade accounts payable 762,526 104,348 50,432 30,587 231 21,284 24,398 - 993,806
Accounts payable to related parties 145,344 79,990 100,492 53,609 6 11,316 14,499 (347,580 ) 57,676
Current income tax 906 5,853 2,775 6,077 170 943 509 - 17,233
Other accounts payable 386,252 27,990 31,992 10,286 1,155 80,931 40,132 - 578,738
Provisions 85,479 18,472 1,837 893 - 199 9,751 - 116,631
Total current liabilities 1,401,775 275,763 251,893 130,922 1,567 129,487 128,973 (354,109 ) 1,966,271
Borrowings 133 76,545 - - 121 71,713 152,110 - 300,622
Bonds 9,330 - 107,338 597,267 - - 687,403 - 1,401,338
Trade accounts payable - - - 211 - - - - 211
Other accounts payable 45,119 - 493 120 2,894 - 462,316 - 510,942
Accounts payable to related parties 7,181 - 1,006 29,206 24,543 - 205,436 (238,168 ) 29,204
Other provisions 13,276 50,274 11,063 2,986 - - 27,670 - 105,269
Deferred income tax liability 61,172 68,458 - 64,200 - - - - 193,830
Total non-current liabilities 136,211 195,277 119,900 693,990 27,558 71,713 1,534,935 (238,168 ) 2,541,416
Total liabilities 1,537,986 471,040 371,793 824,912 29,125 201,200 1,663,908 (592,277 ) 4,507,687
Equity attributable to controlling interest in the Company 530,984 454,767 118,918 192,185 927 292,234 1,298,721 (1,697,812 ) 1,190,924
Non-controlling interest 5,328 35,217 34,394 64,059 - 87,018 3,014 (1,946 ) 227,084
Total liabilities and equity 2,074,298 961,024 525,105 1,081,156 30,052 580,452 2,965,643 (2,292,035 ) 5,925,695

- 16 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

Engineering Infrastructure Parent
In thousands of soles and
construction 		Energy Toll roads Transportation Water
treatment 		Real
estate 		Company
operations 		Eliminations Consolidated
For the three-month period ended June 30, 2023
Revenue 639,939 146,116 125,212 102,570 1,216 76,598 23,591 (78,321 ) 1,036,921
Gross profit 26,508 13,495 23,298 30,576 721 31,767 4,551 3,370 134,286
Administrative expenses (31,037 ) (3,533 ) (4,632 ) (2,851 ) (231 ) (5,116 ) (7,819 ) (1,841 ) (57,060 )
Other income and expenses, net (427 ) 471 36 (124 ) (41 ) 808 234 (389 ) 568
Operating profit (loss) (4,956 ) 10,433 18,702 27,601 449 27,459 (3,034 ) 1,140 77,794
Financial expenses (17,979 ) (4,661 ) (9,334 ) (1,828 ) (111 ) (2,705 ) (19,077 ) 11,070 (44,625 )
Financial income (3,990 ) 3,125 1,885 2,822 170 2,383 13,395 (11,658 ) 8,132
Interests for present value of financial asset or liability 280 (575 ) (588 ) - - 1,897 5,343 - 6,357
Share of profit or loss in associates and joint ventures - 718 - - - 73 (4,138 ) 4,139 792
Profit (loss) before income tax (26,645 ) 9,040 10,665 28,595 508 29,107 (7,511 ) 4,691 48,450
Income tax (1,532 ) (2,521 ) (4,880 ) (8,969 ) (156 ) (16,715 ) (5,261 ) 2 (40,032 )
Profit (loss) for the period (28,177 ) 6,519 5,785 19,626 352 12,392 (12,772 ) 4,693 8,418
Profit (loss) from attributable to:
Controlling interest in the Company (27,419 ) 5,154 3,591 14,719 352 6,585 (12,805 ) 4,649 (5,174 )
Non-controlling interest (758 ) 1,365 2,194 4,907 - 5,807 33 44 13,592
(28,177 ) 6,519 5,785 19,626 352 12,392 (12,772 ) 4,693 8,418

- 17 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

Engineering Infrastructure Parent
In thousands of soles and
construction 		Energy Toll roads Transportation Water
treatment 		Real
estate 		Company
operations 		Eliminations Consolidated
For the three-month period ended June 30, 2024
Revenue 581,883 181,562 127,520 103,322 1,181 32,637 25,093 (81,982 ) 971,216
Gross profit 15,140 33,269 18,710 31,495 667 9,728 5,291 1,737 116,037
Administrative expenses (29,297 ) (4,062 ) (6,700 ) (2,932 ) (234 ) (3,747 ) (6,625 ) (1,094 ) (54,691 )
Other income and expenses, net (162 ) 315 (640 ) 329 (1 ) 489 (543 ) 787 574
Operating profit (loss) (14,319 ) 29,522 11,370 28,892 432 6,470 (1,877 ) 1,430 61,920
Financial expenses 198 (7,989 ) (3,349 ) (3,145 ) 37 (3,124 ) (50,341 ) 9,551 (58,162 )
Financial income 2,228 559 6,514 1,111 178 1,399 4,279 (10,542 ) 5,726
Interests for present value of financial asset or liability 27 (1,382 ) (579 ) (14 ) - 127 (10,613 ) - (12,434 )
Share of profit or loss in associates and joint ventures - 822 - - - - 11,356 (11,356 ) 822
Profit (loss) before income tax (11,866 ) 21,532 13,956 26,844 647 4,872 (47,196 ) (10,917 ) (2,128 )
Income tax (17,358 ) (6,741 ) (3,670 ) (8,364 ) (192 ) (1,633 ) 2,346 12 (35,600 )
Profit (loss) for the period (29,224 ) 14,791 10,286 18,480 455 3,239 (44,850 ) (10,905 ) (37,728 )
Profit (loss) from attributable to:
Controlling interest in the Company (29,198 ) 12,829 6,358 13,860 455 94 (44,851 ) (10,896 ) (51,349 )
Non-controlling interest (26 ) 1,962 3,928 4,620 - 3,145 1 (9 ) 13,621
(29,224 ) 14,791 10,286 18,480 455 3,239 (44,850 ) (10,905 ) (37,728 )

- 18 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

Engineering Infrastructure Parent
In thousands of soles and
construction 		Energy Toll roads Transportation Water
treatment 		Real
estate 		Company
operations 		Eliminations Consolidated
For the six-month period ended June 30, 2023
Revenue 1,138,684 310,992 258,600 204,678 2,479 94,373 48,780 (171,527 ) 1,887,059
Gross profit 19,417 43,201 39,613 61,993 1,483 35,417 10,498 3,586 215,208
Administrative expenses (54,262 ) (7,945 ) (9,788 ) (5,648 ) (471 ) (9,027 ) (14,455 ) (1,327 ) (102,923 )
Other income and expenses, net (4,956 ) 639 409 51 (41 ) 1,588 4,032 (721 ) 1,001
Operating (loss) profit (39,801 ) 35,895 30,234 56,396 971 27,978 75 1,538 113,286
Financial expenses (29,546 ) (10,608 ) (15,559 ) (3,628 ) (219 ) (5,940 ) (43,793 ) 22,856 (86,437 )
Financial income 974 5,247 3,293 4,293 330 4,296 29,837 (22,106 ) 26,164
Interests for present value of financial asset or liability 1,632 (437 ) (1,602 ) - - 3,153 17,417 - 20,163
Share of profit or loss in associates and joint ventures (1 ) 1,585 - - - 73 (7,016 ) 7,015 1,656
Profit (loss) before income tax (66,742 ) 31,682 16,366 57,061 1,082 29,560 (3,480 ) 9,303 74,832
Income tax (11,739 ) (9,724 ) (6,235 ) (17,651 ) (323 ) (16,856 ) (9,895 ) 10 (72,413 )
Profit (loss) for the period (78,481 ) 21,958 10,131 39,410 759 12,704 (13,375 ) 9,313 2,419
Profit (loss) from attributable to:
Controlling interest in the Company (77,881 ) 18,621 5,178 29,557 759 5,501 (13,420 ) 9,123 (22,562 )
Non-controlling interest (600 ) 3,337 4,953 9,853 - 7,203 45 190 24,981
(78,481 ) 21,958 10,131 39,410 759 12,704 (13,375 ) 9,313 2,419

- 19 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

Engineering Infrastructure Parent
In thousands of soles and
construction 		Energy Toll roads Transportation Water
treatment 		Real
estate 		Company
operations 		Eliminations Consolidated
For the six-month period ended June 30, 2024
Revenue 1,162,911 353,937 296,697 205,540 2,442 76,537 49,238 (178,801 ) 1,968,501
Gross profit 18,490 70,319 51,614 65,198 1,477 23,687 9,013 4,238 244,036
Administrative expenses (54,462 ) (8,091 ) (13,341 ) (6,141 ) (469 ) (7,395 ) (11,694 ) (2,871 ) (104,464 )
Other income and expenses, net (2,690 ) 529 (323 ) 333 (1 ) 955 (45 ) 786 (456 )
Operating profit (loss) (38,662 ) 62,757 37,950 59,390 1,007 17,247 (2,726 ) 2,153 139,116
Financial expenses (22,048 ) (14,452 ) (9,444 ) (5,351 ) (47 ) (5,445 ) (78,602 ) 16,869 (118,520 )
Financial income 2,997 810 8,216 3,069 358 2,872 12,863 (17,910 ) 13,275
Interests for present value of financial asset or liability 117 (1,953 ) (727 ) (11 ) - 303 (12,468 ) - (14,739 )
Share of profit or loss in associates and joint ventures - 1,631 - - - - 27,103 (27,104 ) 1,630
Profit (loss) before income tax (57,596 ) 48,793 35,995 57,097 1,318 14,977 (53,830 ) (25,992 ) 20,762
Income tax (11,509 ) (15,028 ) (10,406 ) (17,757 ) (391 ) (4,773 ) 1,843 (4 ) (58,025 )
Profit (loss) for the period (69,105 ) 33,765 25,589 39,340 927 10,204 (51,987 ) (25,996 ) (37,263 )
Profit (loss) from attributable to:
Controlling interest in the Company (68,818 ) 29,893 17,332 29,505 927 2,293 (51,992 ) (26,029 ) (66,889 )
Non-controlling interest (287 ) 3,872 8,257 9,835 - 7,911 5 33 29,626
(69,105 ) 33,765 25,589 39,340 927 10,204 (51,987 ) (25,996 ) (37,263 )

- 20 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

8. Financial Instruments

Financial assets related to concession contracts are presented in the consolidated statement of financial position as "trade accounts receivable current" and "trade accounts receivable non-current".

The classification of financial assets and liabilities by category is as follows:

As of As of
December 31, June 30,
In thousands of soles 2023 2024
Financial assets according to the consolidated statement of financial position
Loans and accounts receivable at amortized cost:
- Cash and cash equivalents 1,003,888 765,845
- Trade accounts receivable and other accounts receivable
(excluding non-financial assets) (i) 1,379,202 1,630,823
- Financial assets related to concession agreements (ii) 908,371 940,798
- Accounts receivable from related parties 543,728 559,687
3,835,189 3,897,153
Financial liabilities according to the consolidated statement of financial position
Other financial liabilities at amortized cost:
- Bank loans and other financial liabilities 780,145 370,697
- Lease liability for right-of-use asset 42,562 37,180
- Bonds 822,925 1,496,270
- Trade and other accounts payable
(excluding non-financial liabilities) (iii) 1,785,487 1,607,080
- Accounts payable to related parties 72,936 86,880
3,504,055 3,598,107
Other financial liabilities:
- Other provisions (iv) 56,443 58,724
(i) The following non-financial assets are excluded: advances to suppliers for S/90.3 million and tax receivable for S/96.6 million (S/98 million and S/104.7 million, respectively, as of December 31, 2023).
(ii) Included in the trade accounts receivable item.
(iii) The following non-financial liabilities are excluded: advances received from customers for S/213.4 million, taxes payable for S/156 million, salaries and other personnel payable for S/99.8 million and others for S/7.5 million (S/241.5 million, S/158.1 million, S/92.2 million and S/9.1 million, respectively, as of December 31, 2023).
(iv) Includes administrative process INDECOPI for S/58.7 million (S/56.4 million, as of December 31, 2023).
9. Cash and Cash Equivalents

This account comprises:

As of As of
December 31, June 30,
In thousands of soles 2023 2024
Cash on hand 1,020 758
Remittances in-transit 3,621 3,785
Current accounts (a) 263,295 132,556
Trust account - specific use funds (b) 421,149 291,454
Time deposits (c) 314,803 337,292
1,003,888 765,845

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

(a) Current accounts are denominated in local and foreign currency, deposited in local and foreign banks with a high credit rating and are freely available. These accounts earn interest at market rates.
(b) The Corporation maintains trust accounts in local and foreign banks for the administration of funds for specific uses that are classified as:
As of As of
December 31, June 30,
In thousands of soles 2023 2024
Operational funds 190,755 166,817
Reserve funds (i) 28,661 72,420
Consortium funds 200,473 52,217
Guarantee funds 1,260 -
421,149 291,454
(i) Reserve funds for the payment of bonds issued and other obligations of the Corporation are as follows:
As of As of
December 31, June 30,
In thousands of soles 2023 2024
AENZA S.A.A. - 45,925
Red Vial 5 S.A. 24,039 24,578
Tren Urbano de Lima S.A. 4,622 1,917
28,661 72,420
(c) Time deposits have maturities of less than ninety (90) days and are renewable at maturity. As of June 30, 2024, these deposits bear interest ranging from 4.3% to 6.45% (4.21% to 7.32% at December 31, 2023).

Cash and cash equivalents do not represent a significant credit or interest rate risk; therefore, their carrying amounts approximate their fair value.

10. Trade Accounts Receivable, net

This caption comprises the following:

As of As of
December 31, June 30,
In thousands of soles 2023 2024
Receivables - net (a) 204,167 267,601
Unbilled receivables - Subsidiarie (b) 718,408 663,993
Unbilled receivables - Concession (c) 908,197 939,124
1,830,772 1,870,718
Current portion 1,061,801 1,093,646
Non-current portion 768,971 777,072
1,830,772 1,870,718

As of December 31, 2023 and as of June 30, 2024, trade accounts receivable are denominated in local and foreign currency, have current maturities, do not accrue interest and do not have specific guarantees. The fair value of current invoices receivable is similar to their carrying value because their average collection period is less than sixty (60) days.

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

The balance of accounts receivable corresponds to:

As of As of
December 31, June 30,
In thousands of soles 2023 2024
Tren Urbano de Lima S.A. 884,326 895,361
Cumbra Peru S.A. 750,109 777,740
UNNA Energia S.A. 119,948 104,835
Cumbra Ingenieria S.A. 33,866 30,095
Carretera Andina del Sur S.A.C. 14,512 29,603
UNNA Transporte S.A.C. 11,134 9,317
Red Vial 5 S.A. 1,678 7,650
Viva Negocio Inmobiliario S.A. 6,392 6,023
Carretera Sierra Piura S.A.C. 5,459 5,345
Concesionaria La Chira S.A. 2,396 2,839
Others 952 1,910
1,830,772 1,870,718
(a) As of December 31, 2023, and June 30, 2024, management evaluated the exposure to credit risk on trade receivables. As of June 30, 2024, invoices receivable are presented net of impairment for S/43.4 million, and discounted to present value for S/0.4 million (S/43.4 million for impairment and S/0.5 million of present value, as of December 31, 2023).

The aging analysis of trade receivables is as follows:

As of As of
December 31, June 30,
In thousands of soles 2023 2024
Current 153,678 257,629
Past due up to 30 days 29,375 2,446
Past due from 31 days up to 90 days 11,932 414
Past due from 91 days up to 120 days 317 3
Past due from 121 days up to 360 days 2,192 1,820
Past due over 360 days 6,673 5,289
204,167 267,601

As of June 30, 2024, the amount of due debts over three hundred and sixty (360) days mainly includes invoices receivable from subsidiaries: UNNA Transporte S.A.C. for S/3.1 million, Cumbra Peru S.A. for S/1.3 million, and Cumbra Ingenieria S.A. for S/0.9 million (S/4.6 million, S/1.2 million S/0.9 million as of December 31, 2023, respectively).

(b) Correspond to documents related to estimates for services provided and valuations that were not invoiced. These rights are recognized discounted at present value for S/2.1 million (S/2.3 million as of December 31, 2023). The following is a breakdown by subsidiary:
As of As of
December 31, June 30,
In thousands of soles 2023 2024
Cumbra Peru S.A. 683,927 633,480
Cumbra Ingenieria S.A. 20,655 19,810
UNNA Energia S.A. 7,183 7,608
UNNA Transporte S.A.C. 6,560 3,054
Others 83 41
718,408 663,993

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

(c) Correspond to future collections to the Grantor according to the terms of the concession agreement, as detailed below:
As of As of
December 31, June 30,
In thousands of soles 2023 2024
Tren Urbano de Lima S.A. 884,317 895,361
Carretera Andina del Sur S.A.C. 14,403 29,603
Red Vial 5 S.A. 1,637 7,181
Carretera Sierra Piura S.A.C. 5,444 5,345
Concesionaria La Chira S.A. 2,396 1,634
908,197 939,124

Management, after evaluating the balances receivable at the date of the interim condensed consolidated financial statements, considers that, except for the accounts receivable provisioned, there are no accounts at risk of uncollectibility.

In the opinion of Corporate Management, the expected credit loss and allowance for trade receivables adequately cover the risk of uncollectibility as of December 31, 2023 and as of June 30, 2024.

11. Transactions with Related Parties

A. Transactions with related parties

Major transactions for the period ended June 30, 2023 and 2024 between the Company and its related parties are summarized as follows:

For the three-month period For the six-month period
ended June 30 ended June 30
In thousands of soles 2023 2024 2023 2024
Revenue from sales of goods and services:
- Joint operations 21,987 19,324 28,362 34,686
21,987 19,324 28,362 34,686

Transactions among related parties are made based on current price lists and according to the terms and conditions similar to those agreed with third parties.

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

B. Balances with Related parties

The balances were the following:

As of
December 31, 2023 		As of
June 30, 2024
In thousands of soles Receivable Payable Receivable Payable
Current portion:
Joint operations
Consorcio Constructor Chavimochic - 9,313 - 7,720
Consorcio Peruano de Conservacion 799 2,762 800 2,763
Consorcio GyM Conciviles - 5,709 1,419 1,961
Consorcio Vial Quinua - 1,945 - 1,930
Consorcio Manperan 451 1,721 838 1,307
Consorcio Inti Punku 5,647 114 4,217 7
Consorcio TNT Vial y Vives - DSD Chile Ltda - 558 142 478
Consorcio Rio Urubamba 1,911 - 1,947 -
Consorcio Italo Peruano 1,648 - 1,647 -
Consorcio Ermitano 526 - 518 -
Others 4,461 523 3,060 22,180
15,443 22,645 14,588 38,346
Other related parties
Ferrovias S.A. - 21,727 - 19,330
- 21,727 - 19,330
Current portion 15,443 44,372 14,588 57,676
Non-current portion
Gasoducto Sur Peruano S.A. (note 14.i) 527,722 - 545,099 -
Ferrovias S.A. - 15,761 - 16,111
Ferrovias Participaciones S.A. - 12,803 - 13,093
Others 563 - - -
Non-current 528,285 28,564 545,099 29,204

As of December 31, 2023 and June 30, 2024, accounts receivable and payable are mainly of current maturity which have no specific guarantees. These balances do not generate interest considering their maturity in short term.

The Corporation conducts its operations with related companies under the same conditions as those with third parties; consequently, there are no differences in pricing policies or in the basis for tax settlement; with respect to payment terms, these do not differ from policies granted to third parties.

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

12. Other Accounts Receivable, net

This caption comprises the following:

As of As of
December 31, June 30,
In thousands of soles 2023 2024
Restricted funds (a) 106,929 367,849
Claims and accounts receivable from third parties (b) 254,750 245,657
Credits and recoverable taxes (c) 104,654 96,584
Advances to suppliers (d) 98,021 90,342
Guarantee deposits (e) 82,230 71,474
Accounts receivable from personnel 1,925 2,637
Others 10,967 13,286
659,476 887,829
Current portion 348,072 635,543
Non-current portion 311,404 252,286
659,476 887,829
a) As of June 30, 2024, the restricted funds correspond to bank guarantee certificates composed of: AENZA S.A.A. for S/263.6, Cumbra Peru S.A for S/84.1 million, Cumbra Ingenieria S.A for S/12.8 million and a restricted fund of Concesionaria La Chira S.A. for S/7.3 million (As of December 31, 2023, S/81.5 million, S/18.1 million and S/7.3 million, respectively).
b) The balance corresponds to the following:
As of As of
December 31, June 30,
In thousands of soles 2023 2024
Additional investments for operating contracts 98,047 94,983
Account receivable to the Ministry of Agriculture Development and Irrigation (b.1) 32,062 33,084
Claims to the tax authorities 29,976 29,958
Real estate project receivable 30,012 30,409
Settlement agreement with third parties 21,136 22,402
Accounts receivable from joint ventures 21,878 21,226
Insurance claims for losses 6,778 1,755
Others 14,861 11,840
254,750 245,657
(b.1) The balance corresponds to the claim to the Ministry of Agrarian Development and Irrigation (hereinafter, MIDAGRI) for US$9.5 million equivalent to S/35.1 million for the execution of the total amount of the Performance Bond, derived from the arbitration process followed against the Regional Government of La Libertad and MIDAGRI for the early termination of the Concession Contract due to breach of contract by the Grantor. As of June 30, 2024, the net present value balance amounts to US$8.6 million, equivalent to S/33.1 million (note 14.ii).

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

c) The balance corresponds to the following:
As of As of
December 31, June 30,
In thousands of soles 2023 2024
VAT credit 39,706 46,560
Income tax - advance payments 45,263 33,372
ITAN and other tax receivable 19,685 16,652
104,654 96,584
d) Corresponds to prepayments made to suppliers, mainly for engineering and construction projects. The variation corresponds to: (i) Increase in Cumbra Peru S.A. for S/8.9 million in the project Centro Comercial la Molina, and (ii) Decrease in Cumbra Peru S.A. for S/16.6 million in the Consorcio Inti Punku for the Jorge Chavez Airport project.
e) Guarantees deposits correspond to funds retained by customers for work contracts, mainly of the subsidiary Cumbra Peru S.A. These deposits are retained by customers in order to guarantee that the subsidiary performs its obligations under the contracts. The amounts withheld will be recovered upon completion of the work.

The fair value of the other short-term accounts receivable is similar to their book value due to their short-term maturity. The non-current portion corresponds mainly to non-financial assets such as claims to third parties and tax credits. Other non-current accounts receivable maintain maturities that vary between 2 and 5 years. The maximum exposure to credit risk as of the reporting date is the carrying amount of each class of other accounts receivable mentioned.

13. Inventories, Net

This caption comprises the following:

As of As of
December 31, June 30,
In thousands of soles 2023 2024
Land 117,791 116,509
Work in progress - Real estate 127,008 146,442
Finished properties 38,970 33,168
Construction materials 52,479 46,712
Merchandise and supplies 100,103 96,326
436,351 439,157
Allowance for inventory write-downs (5,572 ) (5,353 )
430,779 433,804
Current 360,497 363,441
Non-current 70,282 70,363
430,779 433,804

As of June 30, 2024, the non-current portion corresponds to land for real estate projects in Lima to be executed in the long term, S/56.7 million located in the district of San Isidro and S/13.7 million located in the district of Barranco (as of December 31, 2023, S/56.6 million and S/13.6 million, respectively).

Management has analyzed the inventories and has determined that there are no major indications of impairment.

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

14. Investments in Associates and Joint Ventures

This caption comprises the following:

As of As of
December 31, June 30,
In thousands of soles 2023 2024
Associates 2,103 2,103
Joint ventures 10,644 11,124
12,747 13,227

Movement of our investments in associates for the periods ended June 30, 2023, and 2024 is as follows:

In thousands of soles 2023 2024
Balance as of January, 1 14,916 12,747
Equity interest in results 1,656 1,630
Dividends received (3,652 ) (1,145 )
Translation adjustment - (5 )
Balance as of June, 30 12,920 13,227

The most relevant associates are described below:

i. Gasoducto Sur Peruano S.A.

In November 2015, the Corporation acquired a 20% interest in Gasoducto Sur Peruano S.A. and obtained a 29% interest in Consorcio Constructor Ductos del Sur (hereinafter "CCDS") through its subsidiary Cumbra Peru S.A.

On July 22, 2014, GSP signed a concession agreement with the Peruvian Government to build, operate, and maintain a pipeline transportation system of natural gas to meet the demand of cities in the south of Peru (hereinafter the "Concession Agreement"). Additionally, GSP signed an engineering, procurement and construction agreement with CCDS.

The Corporation made an investment of US$242.5 million (equivalent to S/811 million) and had to assume 21.49% of the performance bond established in the concession agreement for US$ 262.5 million and 21.49% of the guarantee for a bridge loan of US$600 million.

Early termination of the Concession Agreement

On January 24, 2017 the Peruvian Ministry of Energy and Mines (hereinafter "MEM") notified the early termination of the Concession Agreement under Clause 6.7 for the failure of the concessionaire to accredit the financial closure within the contractual term, proceeding with the immediate execution of the entirety of the faithful performance guarantee.

The situation described in the previous paragraph caused Management to recognize the impairment of its total investment equivalent to 21.49% of its participation (US$242.5 million) between 2016 and 2019, and required the register of the account receivable resulting from the execution of the counter-guarantees granted by AENZA in favor of the issuer of the guarantee of performance of the concession contract and in favor of the syndicate of banks that granted the bridge loan to GSP for US$52.5 million and US$129 million, respectively. According to the Concession Agreement, the guarantees were paid on behalf of GSP, therefore, AENZA recognized the right to collect from GSP for US$181.5 million, which were recorded in 2016 as accounts receivable from related parties. Likewise, Cumbra Peru recognized the value of accounts receivable from CCDS for US$73.5 million and lost profits for US$10 million, which correspond to receivables from GSP.

- 28 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

On October 11, 2017, the agreement deed for the delivery of the assets of the south Peruvian gas pipeline concession between GSP and MEM was signed. The assets include the works, equipment, facilities and engineering studies provided for the execution of the project.

Upon termination of the Concession Agreement, and in accordance with the provisions of clause 20 thereof, the Peruvian Government had the obligation to hire an internationally recognized auditing firm to calculate the Net Book Value (hereinafter "NBV") of the concession assets, and to call up to three auctions on GSP's assets. However, to date, the Peruvian State continues to fail to comply with these contractual obligations. The amount of the VCN was calculated at US$2,602 million by an independent auditing firm hired by GSP as of December 31, 2016, this figure was subsequently adjusted to US$2,110 million as a result of variations in the balances related to the works carried out by the consortium, which in turn is reported in its audited financial statements as of December 31, 2017.

Collection Actions of AENZA S.A.A.

On December 21, 2018, the Company asked the Peruvian Government for direct treatment and requested the payment of NBV in favor of GSP. On October 18, 2019, the Company filed with CIADI an arbitration request. On December 27, 2019 the Company withdrew the arbitration in compliance with a preliminary plea agreement signed with the Attorney General´s Office and Ad-hoc Peruvian Public Prosecutor's Office on the same date. Withdrawing the arbitration before CIADI does not involve the loss of collection rights of the Company against GSP and does not restrict, limit, or impede GSP from asserting its rights against the Peruvian Government.

The Company and its internal and external legal advisors consider that the payment owed by the Government to GSP for the NBV are not within the withholding scope under Law 30737 that ensures the immediate payment of civil compensation in favor of the Peruvian Government in cases of corruption and related crimes, since this payment does not include any profit margin and/or not correspond to the sale of assets related to the project, but to a reimbursement for the investment made by the Concessionaire.

Bankruptcy of GSP

On December 4, 2017, GSP started a bankruptcy proceeding before the INDECOPI. The Company maintains receivable recognized by INDECOPI of US$0.4 million and US$169.3 million, the last one held under trust in favor of the creditors of the Company. In addition, it has indirectly recognized claims of US$11.8 million. On the other hand, the debt of Cumbra Peru S.A. derived from its participation in CCDS is directly recognized in INDECOPI in the GSP Competition for US$88.7 million. As of the date of this report, GSP is under liquidation and AENZA S.A.A. chairs the Board of Creditors.

On April 11, 2023, the Liquidation Agreement was approved, which defines the framework for the liquidator's actions. The Liquidation Agreement includes the granting of powers to the liquidator with respect to representation, administrative, contractual and other relevant powers that allow him to comply with the obligations for which he was appointed, as well as the actions he is allowed to take in order to recover GSP's assets and in accordance with the mechanisms set forth in the General Law of the Insolvency System.

On April 13, 2023, and under the powers granted to him by the Liquidation Agreement, the Liquidator requested the Ministry of Energy and Mines (MEM) to initiate the Direct Treatment procedure stipulated in the Concession Agreement.

On September 12, 2023, INDECOPI notified GSP of Resolution No. 4069-2023/CCO-INDECOPI which resolved to declare null and void the Board's resolution approving the Liquidation Agreement because the Agreement does not the agreement does not foresee the modality and conditions of realization of the GSP assets other than the VCN (direct sale, auction, dation, etc.).

On November 21, 2023, the Meeting of Creditors was held with the purpose of correcting the defect declared in the aforementioned resolution, through the approval of a new Liquidation Agreement. However, this proposal only reached 59% of favorable votes, not reaching the qualified majority (66.67%) required by law. Likewise, on the same day, the Presidency of the Board, as well as other creditors requested INDECOPI to declare the liquidation of GSP.

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

In view of the above, on December 28, 2023, INDECOPI ordered the liquidation of GSP and on January 12, 2024 the Technical Secretariat of the Commission, convene a Single Meeting of Creditors for January 29, 2024, in order to appoint a Liquidator for the process and approve a new Liquidation Agreement. The Meeting is formed with the Creditors in attendance and approve the corresponding proposals by simple majority. Therefore, on the referred day, with 59% of the votes in attendance, the appointment of Alva Legal Asesoria Empresarial S.A.C. as GSP's liquidator and the proposed Liquidation Agreement were approved. The liquidation process of GSP continues its course, as well as the necessary actions for the recovery of VCN.

Additionally, on April 30, 2024, by means of a public deed, the Trust Agreement for Easements, Administrative Costs and Social Works, formed by GSP and La Fiduciaria, related to the Concession Contract, was terminated. As a consequence, US$ 38.3 million U.S. dollars are currently in bank accounts of GSP, in liquidation, managed by Alva Legal Asesoria Empresarial S.A.C., the liquidator named for the liquidation process of GSP.

Amounts recognized in the consolidated financial statements (note 11).

As of June 30, 2024, the net value of the account receivable from GSP is approximately US$142.4 million, equivalent to S/545.1 million (US$142.4 million equivalent to S/527.7 million at December 31, 2023), which comprises the recognition in the following entities of the Corporation: i) AENZA S.A.A. maintains US$ 63.9 million (equivalent to S/244.4 million) discounted to present value net of impairment and the effect of the exchange difference (US$63.9 million equivalent to S/236.6 million at December 31, 2023) and; ii) Cumbra Peru S.A. maintains US$ 78.5 million (equivalent to S/300.7 million) discounted to present value, net of the effect of the exchange difference (US$78.5 million equivalent to S/291.1 million at December 31, 2023).

The Company's management maintains the recovery estimate in 8 years, applying a discount rate of 5.3% (recovery term of 8 years with a discount rate of 4.98% as of June 30, 2023).

Based on management's assessment and in conjunction with the opinion of the internal legal department and external legal counsel, the estimate of recoverability, impairment allowances and the net recognized value of the account receivable from GSP as of December 31, 2023 and June 30, 2024 is reasonable and sufficient as of the reporting date of the Corporation's consolidated financial statements.

ii. Concesionaria Chavimochic S.A.C.

In May 2014, Concesionaria Chavimochic S.A.C. (hereinafter the "Concessionaire"), in which AENZA has 26.5% of interest, signed an agreement with the Peruvian Government (hereinafter the "Concession Agreement") for the design, construction, operation, and maintenance of major hydraulic works of Chavimochic Project (hereinafter the "Project"). The construction of the work started in 2015 with a concession term of twenty-five (25) years and a total investment of about US$647 million.

According to the Concession Agreement, the works of the third stage of the Project were structured in two phases. To date, the works of the first phase (Palo Redondo Dam) have an advance of 70%. However, at the beginning of 2017, a procedure for early termination of the Concession Agreement was initiated due to a contract breach by the Grantor, as a result all activities were suspended in December 2017. Due to the fact that no agreement was made, the Concessionaire initiated an arbitration process at the Comision de las Naciones Unidas para el Derecho Mercantil Internacional (CNUDMI).

On October 4, 2022, the Arbitration Court notified the parties the ruling, which claim the early termination of the Concession Agreement and ordered, that the Grantor pay the Concessionaire the amount of US$25.3 million as a consequence of its failure to provide the Project Control Delivery, and order the execution of 70% of the Performance Bond or the payment of US$25 million for the Concessionaire's failure to obtain the closing of the project finance.

Despite the requests for exclusion and integration of the award filed by the Concessionaire, the Court did not issue a decision within the deadline, and the ruling was consented to. As of December 31, 2022, an impairment of the investment amounting to S/14.5 million was recorded.

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

In February 2023, the Grantor executed partially the Concessionaire's performance bond, where AENZA was required to assume a total of US$7.5 million. Likewise, the Grantor requested the execution of the balance of the Concessionaire's performance bond, where AENZA is responsible for US$1.4 million. The Concessionaire initiated legal actions for the full execution of the ruling so the Grantor complies with the obligations arising therefrom. Likewise, the Concessionaire initiated legal actions against the Grantor for what it considers an arbitrary execution of the balance of the performance bond without the arbitration court having granted the possibility of executing the bond for a higher amount without a contract breach to attributing the Concessionaire what would justify such performance (note 12.a.1).

15. Investment Property, Property, Plant and Equipment, Intangible Assets and Right-of-Use Assets

The movement in investment property, property, plant and equipment, intangible assets and right-of-use assets accounts for the period ended June 30, 2023 and 2024, are as follows:

Property,
Investment plant and Right-of-use Intangibles
property equipment assets assets
In thousands of soles (A) (A) (A) (B)
Cost
Balance at January 1, 2023 99,557 1,234,208 119,495 1,586,462
Additions 2 22,311 2,669 85,374
Sale of assets - (13,052 ) - -
Disposals - (5,620 ) (875 ) (5,572 )
Reclassifications - (1,725 ) - -
Transfers - - - (24,863 )
Translations adjustments 1 4,740 150 6,429
Balance at June 30, 2023 99,560 1,240,862 121,439 1,647,830
Balance at January 1, 2024 105,440 1,244,039 120,576 1,626,101
Additions 51 18,881 2,375 43,073
Sale of assets - (14,147 ) - -
Disposals - (4,846 ) - (6,312 )
Reclassifications - (70 ) 1,046 (23,711 )
Transfers - (336 ) - 281
Translations adjustments - (5,275 ) (72 ) (5,538 )
Balance at June 30, 2024 105,491 1,238,246 123,925 1,633,894
Accumulated depreciation and impairment
Balance at January 1, 2023 (37,633 ) (949,743 ) (69,288 ) (799,126 )
Depreciation / amortization (1,929 ) (24,851 ) (8,598 ) (75,061 )
Sale of assets - 11,128 - -
Disposals - 4,615 875 5,450
Impairment - (313 ) - -
Translations adjustments (1 ) (2,835 ) (68 ) (895 )
Balance at June 30, 2023 (39,563 ) (960,274 ) (77,079 ) (844,773 )
Balance at January 1, 2024 (47,180 ) (936,874 ) (84,281 ) (873,645 )
Depreciation / amortization (1,934 ) (18,053 ) (8,507 ) (66,105 )
Sale of assets - 11,228 - -
Disposals - 4,627 - 6,274
Reclassifications - 70 (1,046 ) 23,711
Translations adjustments - 3,582 52 975
Balance at June 30, 2024 (49,114 ) (935,420 ) (93,782 ) (908,790 )
Carrying amounts
At January 1, 2023 61,924 284,465 50,207 787,336
At June 30, 2023 59,997 280,588 44,360 803,057
At January 1, 2024 58,260 307,165 36,295 752,456
At June 30, 2024 56,377 302,826 30,143 725,104

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

A. Investment property, property, plant and equipment and right-of-use assets

As of June 30, 2024, additions to property, plant and equipment correspond mainly to the energy segment, for works in progress, replacement units, machinery, and other equipment for a total of S/11.9 million; additions in the engineering and construction segment, for other equipment, machinery, furniture and fixtures and buildings for S/5 million; and additions in the real estate and infrastructure segment for S/2 million (as of June 30, 2023, additions to property, plant and equipment correspond mainly to the energy segment, for machinery, replacement units, work in progress, facilities other equipment furniture and fixtures for a total of S/19.6 million; additions in the engineering and construction segment, for other equipment, machinery, furniture and fixtures, and buildings for S/1.9 million; and additions in the real estate and infrastructure segments for S/0.8 million).

As of June 30, 2024, right-of-use asset additions correspond mainly to lease agreements for the acquisition of machinery and equipment for S/1.1 million in the energy segment and the price adjustment to the Company's real estate lease agreement for S/1 million (as of June 30, 2023, it corresponds mainly to the price adjustment to the Company's real estate lease agreement for S/2.4 million).

For the period ended June 30, 2023, and 2024, depreciation of property, plant and equipment, investment property and right-of-use assets is presented in the interim condensed consolidated statement of income as follows:

In thousands of soles 2023 2024
Cost of sale of goods and services (Note 24) 27,488 22,512
Administrative expenses (Note 24) 7,890 5,982
Total depreciation 35,378 28,494
(-) Depreciation related to investment property (1,929 ) (1,934 )
(-) Depreciation related to right-of-use assets (8,598 ) (8,507 )
Total depreciation of property, plant and equipment 24,851 18,053
B. Intangible assets

As of June 30, 2024, the additions correspond mainly to the energy segment for investments in the preparation of wells and other assets for a total of S/40 million and additions in the infrastructure segment and engineering and construction for investments in concessions and software for a total of S/3.1 million (as of June 30, 2023, the additions correspond mainly to the energy segment for investments for the preparation of wells and other assets for a total of S/81.4 million, and in the engineering and construction segment for investments in software for S/2.1 million).

For the period ended June 30, 2023, and 2024, the breakdown of intangible amortization included in the consolidated statement of income is as follows:

In thousands of soles 2023 2024
Cost of sale of goods and services (note 24) 73,083 62,962
Administrative expenses (note 24) 1,978 3,143
Total amortization 75,061 66,105

Goodwill

Management reviews business results based on the type of economic activity developed. The cash-generating units are distributed in the following segments:

As of As of
December 31, June 30,
In thousands of soles 2023 2024
Engineering and construction 35,158 33,477
Electromechanical 20,736 20,736
55,894 54,213

- 32 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

16. Borrowings

This caption comprises the following:

As of As of
Date of Interest December 31, June 30,
In thousands of soles maturity rate Curency 2023 2024
Bank loans
Banco Interamericano de Desarrollo (a) 2032 7.84 % USD 73,802 76,362
Banco de Credito del Peru S.A. (b) 2029 6.04% / 10.58 % USD 95,355 92,182
BD Capital SAF (b) 2026 7.68 % USD 20,641 17,775
Bridge loan (c) Term SOFR 3M
+ 9.75 		%
2024 11.25 % USD 379,928 -
Banco de Credito del Peru S.A. (d) 2024 10.00 % USD 29,628 -
Banco de Credito del Peru S.A. 2024 12.50 % PEN 8,024 8,034
Banco BBVA Peru S.A. 2024 7.94 % USD 1,486 -
Bancolombia S.A. 2025 12.01% / 16.16 % COP 16,209 9,422
Banco de Bogota 2025 14.52% / 15.77 % COP 3 3,364
Other financial entities
BCI Management Administradora General de Fondos S.A. (e) 2027 10.45 % USD 140,615 148,030
Others 2025 9.70% / 13.54 % PEN / CLP 14,454 15,528
Right-of-use-liabilities 2027 5.40% / 22.66 % USD 42,562 37,180
822,707 407,877
Current 516,029 107,255
Non-current 306,678 300,622
822,707 407,877
(a) In December 2022, Viva Negocio Inmobiliario S.A.C. signed a loan agreement with the Banco Interamericano de Desarrollo, for ten (10) years and with two (2) years grace period for principal amortization, for the purpose of building social housing. The loan was fully disbursed in January 2023, for US$20 million, equivalent to S/72.2 million. As of June 30, 2024, the total debt amounts to US$19.9 million, equivalent to S/76.4 million (US$20.2 million, equivalent to S/73.8 million, as of December 31, 2023), which includes principal of S/76.7 million, plus interest of S/0.8 million and the negative effect of deferred charges of S/1.1 million (S/74.3 million, S/0.7 million and S/1.2 million, respectively, at December 31, 2023).

As of December 31, 2023 and June 30, 2024, Viva Negocio Inmobiliario S.A.C. is in compliance with the covenants established in the loan agreement.

(b) Terminales del Peru (hereinafter "TP"), a joint operation of the subsidiary UNNA Energia S.A., has a medium-term loan agreement with Banco de Credito del Peru S.A. (hereinafter BCP) to finance investments arising from the operation agreement of North and Center terminals for 2015 to 2019 period.

In addition, in November 2019, TP signed a loan agreement to finance the additional investments from 2019 to 2023 for a credit line of US$ 46 million with BCP. This agreement includes an assignee as interest holder, so BD Capital (BDC) acquired 50% of the BCP contractual position through the signature of an accession agreement.

- 33 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

As of June 30, 2024, the amount recorded for the loans equivalent to the 50% interest held by the subsidiary UNNA Energia S.A. is S/110 million, which includes principal plus interest and net deferred charges (S/116 million as of 31 December 2023).

As of December 31, 2023, and as of June 30, 2024, TP is in compliance with the covenants established in the loan agreement.

(c) In 2022, the Company entered into a bridge loan agreement for up to US$120 million, with a group of financial institutions comprised by Banco BTG Pactual S.A. - Cayman Branch, Banco Santander Peru S.A., HSBC Mexico, S.A., Institucion de Banca Multiple, Grupo Financiero HSBC, and Natixis, New York Branch. The financing will be repaid over a period of eighteen (18) months, in quarterly interest installments and is secured, subject to the fulfillment of certain precedent conditions, by a flow trust (first lien), a pledge over the shares in UNNA Energia S.A. (first lien), and a trust on the shares of Viva Negocio Inmobiliario S.A.C. (second lien).

On October 5, 2023, and December 27, 2023, payments of US$8 million (equivalent to S/29.1 million) and US$12 million (equivalent to S/43.6 million), respectively, were made. Additionally, on December 27, 2023, the term extension of the bridge loan agreement was signed for up to US$100 million for a period of twelve months.

As of December 31, 2023, the amount of the loan was US$100 million, equivalent to S/379.9 million. On May 14, 2024, the Company repaid the entire US$100 million debt, equivalent to S/363.4 million.

(d) On February 15, 2023, and May 15, 2023, the Ministry of Agrarian Development and Irrigation - MIDAGRI executed the bank guarantee letter for a total amount of US$ 9.5 million that had been issued by the Company on behalf of Concesionaria Chavimochic S.A.C. as a guarantee under the Concession contract. As a result, the Company entered into a short-term loan with Banco de Credito de Peru.

As of December 31, 2023, the loan was US$7.9 million, equivalent to S/29.6 million. As of June 30, 2024, the Company repaid the entire US$8 million debt, equivalent to S/30.7 million.

(e) Corresponds to the monetization of dividends of Red Vial 5 S.A., transaction carried out on May 29, 2018, through which an investment agreement was signed between the Company and the Inversiones Concesión Vial S.A.C. ("BCI Peru") - with the intervention of Fondo de Inversión BCI NV ("Fondo BCI") and BCI Management Administradora General de Fondos S.A. ("BCI Asset Management") to monetize future dividends on Red Vial 5 S.A. to be received by the Company. Upon the signature of this agreement, the Company had to indirectly transfer its economic rights over 48.8% of the share capital of Red Vial 5 S.A. by transferring its B class shares (equivalent to 48.8% of its capital) to a vehicle specially incorporated for such purposes called Inversiones en Autopistas S.A. The amount of the transaction was US$ 42.3 million (equivalent to S/138 million) and was completed on June 11, 2018.

In addition, it has been agreed that the Company would have purchase options on 48.8% of Red Vial 5 S.A. economic rights that BCI Peru will maintain through its interest in Inversiones en Autopistas S.A. These options would be subject to certain conditions such as the expiration of different terms, recovery of the investment made with the proceeds of BCI Fund (according to different economic calculations) and/or to control changes.

As of June 30, 2024, the loan balance payable amounts to US$38.6 million, equivalent to S/148 million (as of December 31, 2023, US$37.9 million, equivalent to S/140.6 million) and includes the positive effect of the present value of S/12.4 million (as of December 31, 2023, the negative effect of the present value of S/2.4 million).

- 34 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

(f) The carrying amount and fair value of borrowings are detailed as follows:
Carrying amount Fair value
As of As of As of As of
December 31, June 30, December 31, June 30,
In thousands of soles 2023 2024 2023 2024
Bank loans 625,076 207,139 616,120 202,897
Other financial entities 155,069 163,558 155,069 163,558
Lease liability for right-of-use asset 42,562 37,180 43,078 37,209
822,707 407,877 814,267 403,664

As of June 30, 2024, the fair value is based on cash flows discounted using debt rates between 4.5% and 22.7% (between 4.7% and 22.7% as of December 31, 2023) and are included as Level 2 in the level of measurement.

17. Bonds

This caption comprised the following:

As of As of
Date of Interest December 31, June 30,
In thousands of soles maturity rate Currency 2023 2024
Corporate bonds - Regulation S issued on the United States of America (a) 2029 12.00 % USD - 699,752
Corporate bonds - Regulation S issued on the United States of America (b) 2039 4.75% + VAC PEN 628,361 626,733
Corporate Bonds - Lima Stock Exchange issued on Peru (c) 2027 8.38 % PEN 180,119 156,723
Private bonds (d) 2027 8.50 % USD 14,445 13,062
822,925 1,496,270
Current portion 81,538 94,932
Non-current portion 741,387 1,401,338
822,925 1,496,270
(a) On May 14, 2024, the Company made a placement of corporate bonds in the international market, adhering to the guidelines established by Rule 144A and Regulation S of the United States of America. The issuance was made for an amount of US$210 million, with a 5-year bullet amortization term, culminating in the repayment of principal at maturity. The bonds have a risk rating of BB-.

These bonds include the following initial guarantees: (i) Security interest over the Company's shares in UNNA Energia, (ii) Trust over the Company's dividends in UNNA Energia, Tren Urbano de Lima, Red Vial 5, Carretera Andina del Sur, Carretera Sierra Piura and Concesionaria La Chira, iii) Credit rights and flows under certain loans granted by the Company to UNNA Energia from the uses of the bond, (iv) Trust of flows of UNNA Energia's accounts receivable corresponding to Lots III and IV, and (v) Reserve account for debt service.

- 35 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

For the period ended June 30, 2024, movements in this account are as follows:

In thousands of soles 2024
Balance at January, 1 -
Additions 781,830
Accrued interest 14,218
Exchange difference 23,884
Costs and interest per issue (120,180 )
Interest paid (85,466 )
Debt issuance costs (34,714 )
Balance at June, 30 699,752

As of June 30, 2024, the Company has complied with the related covenants.

(b) In February 2015, the subsidiary Tren Urbano de Lima S.A. issued international corporate bonds under Regulation S of the United States of America. The issuance was made in VAC soles (adjusted at Constant Update Value) for an amount of S/ 629 million. The bonds have a risk rating of AA+.

These bonds include the following collateral: (i) mortgage on the concession of which Tren Urbano de Lima S.A. is the concessionaire, (ii) security interest on the shares of the Concessionaire, (iii) assignment of the Collection Rights of the Administration Trust, and (iv) a Flow Trust and Reserve Accounts for Debt Service, Operation and Maintenance and ongoing Capex. Issuance costs amounted to S/22 million. As of June 30, 2024, a principal repayment of S/13.1 million has been made (S/12.9 million in 2023).

As of June 30, 2024, an accumulated amortization amounting to S/165.9 million (S/152.8 million as of December 31, 2023) was made.

As of June 30, 2024 the balance includes VAC adjustments and interest payable for S/153.4 million (S/146.1 million as of December 31, 2023).

For the periods ended June 30, 2023 and 2024, the movement of this account is as follows:

In thousands of soles 2023 2024
Balance at January, 1 629,956 628,361
Amortization (12,860 ) (13,078 )
Accrued interest 28,739 27,821
Interest paid (16,473 ) (16,371 )
Balance at June, 30 629,362 626,733

As of December 31, 2023, and as of June 30, 2024, Tren Urbano de Lima S.A. has complied with the corresponding covenants.

As of June 30, 2024, the fair value amounts to S/626.7 million (S/628.4 million, as of December 31, 2023), is based on discounted cash flows using a rate of 4.7% (4.9% as of December 31, 2023) and corresponds to level 2 of the fair value hierarchy.

- 36 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

(c) Between 2015 and 2016, the subsidiary Red Vial 5 S.A. issued the First Corporate Bond Program on the Lima Stock Exchange for a total S/365 million. The bonds are rated AA+.

According to the terms of the bond issuance agreement, this financing is secured by: (i) a trust of flows from the collection rights and flows derived from the Concession, except for flows corresponding to the Remuneration and the Regulation Fee; (ii) a mortgage on the concession of which Red Vial 5 S.A. is the concessionaire; (iii) movable guarantees on shares; (iv) assignment of rights on the bank letter of guarantee and any other guarantee granted in the Construction Agreement; and (v) in general, all those additional guarantees granted in favor of the secured creditors if applicable.

The purpose of the granted funds was to finance the construction works of the second phase of Red Vial 5 and sales tax related to the execution of project expenses.

For the periods ended June 30, 2023 and 2024, the movement of this account is the following:

In thousands of soles 2023 2024
Balance at January, 1 218,684 180,119
Amortization (19,134 ) (23,148 )
Accrued interest 8,639 6,958
Interest paid (8,851 ) (7,206 )
Balance at June, 30 199,338 156,723

As of December 31, 2023 and as of June 30, 2024, Red Vial 5 S.A. complied with the respective covenants.

As of June 30, 2024, the fair value amounts to S/160.3 million (as of December 31, 2023, S/184.6 million), is based on discounted cash flows using an annual effective interest rate 8.1% as of December 31, 2023 and as of June 30, 2024 and is within level 2 of the fair value hierarchy.

(d) At the beginning of 2020, the subsidiary Cumbra Peru S.A. prepared the First Private Bond Program, for US$7.8 million (equivalent to S/25.9 million), which were issued to be exchanged for a previously incurred commercial debt.

For the periods ended June 30, 2023, and 2024 the movement of this account is the following:

In thousands of soles 2023 2024
Balance at January, 1 21,273 14,445
Amortization (1,851 ) (1,866 )
Exchange difference (940 ) 489
Accrued interest 780 628
Interest paid (865 ) (634 )
Balance at June, 30 18,397 13,062

As of June 30, 2024, the fair value amounts to S/11.9 million (S/13.6 million as of December 31, 2023), is based on discounted cash flows using a rate of 14.3% (12% as of December 31, 2023) and is within level 2 of the fair value hierarchy.

- 37 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

18. Trade Accounts Payable

This item comprises:

As of As of
December 31, June 30,
In thousands of soles 2023 2024
Invoices payable 571,438 471,117
Provision of contract costs 592,254 521,899
Notes payable 4,575 1,001
1,168,267 994,017
Current portion 1,164,266 993,806
Non-current portion 4,001 211
1,168,267 994,017

The breakdown of the balance of goods and services received but not invoiced by subsidiaries is as follows:

As of As of
December 31, June 30,
In thousands of soles 2023 2024
Cumbra Peru S.A. 475,159 406,690
Unna Energia S.A. 28,321 37,885
Unna Transporte S.A.C. 23,746 29,017
Viva Negocio Inmobiliario S.A. 13,192 15,507
Cumbra Ingenieria S.A. 17,081 14,307
Tren Urbano de Lima S.A. 20,902 9,558
Aenza S.A.A. 9,477 5,931
Aenza Servicios Corporativos S.A.C. 2,206 1,195
Red Vial 5 S.A. 1,151 842
Others 1,019 967
592,254 521,899

- 38 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

19. Other Accounts Payable

This caption is comprised by the following:

As of As of
December 31, June 30,
In thousands of soles 2023 2024
Civil compensation to Peruvian Government (a) 469,839 480,933
Advances received from customers (b) 241,469 213,393
Taxes payable 158,132 155,958
Salaries and other payable to personnel 92,196 99,802
Arbitration payable 68,082 59,222
Accounts payable Consorcio Ductos del Sur 16,729 16,671
Guarantee deposits 24,570 27,963
Acquisition of additional non-controlling interest 6,944 5,604
Royalties payable 9,164 10,127
Other accounts payable 31,014 20,007
1,118,139 1,089,680
Current portion 608,828 578,738
Non-current portion 509,311 510,942
1,118,139 1,089,680
(a) Corresponds to the indemnification in AENZA related to their participation as minority partners in certain entities that developed infrastructure projects in Peru with companies belonging to the Odebrecht group and the projects associated with the "Construction Club". As indicated in note 1.C), on September 15, 2022, the collaboration and benefits agreement was signed, whereby AENZA acknowledges that it was used by some of its former directors to commit illegal acts until 2016 and consequently undertakes to pay civil reparations to the State for S/333.3 million and US$40.7 million. The civil reparation is subject to a payment term of 12 years, under a legal interest rate in Soles 3.1% and U.S. dollars 1.9%; also the Company is obliged to establish a guarantee package after the Homologation formed through (i) a trust including shares issued by a subsidiary of AENZA (ii) a property belonging to the Company; and (iii) an escrow account with funds equivalent to the annual fee for the following year. Among other conditions, the Agreement includes a restriction for AENZA and the subsidiaries Cumbra Peru S.A. and UNNA Transporte S.A.C. to participate in road construction and maintenance projects with the Peruvian State for a period of two (2) years form the homologation of the Agreement.

On December 27, 2023, the initial installment of the Civil Redress was paid to the Peruvian State for S/10.3 million and US$1.2 million. As of June 30, 2024, the balance including interest amounts to S/327.8 million and US$39.9 million, totaling S/480.9 million (As of December 31, 2023, S/323 million and US$39.5 million, totaling S/469.8 million).

(b) Advances received from customers correspond mainly of the engineering and construction and real estate segments; and are discounted from the invoicing made in accordance with the terms of the agreements.
As of As of
December 31, June 30,
In thousands of soles 2023 2024
Cumbra Peru S.A. - Jorge Chavez Airport 93,792 54,888
Viva Negocio Inmobiliario S.A.C. - Real estate projects 73,626 68,798
Cumbra Peru S.A. - San Gabriel - Buenaventura Project 35,923 12,729
Cumbra Peru S.A. - C. Comercial Parque Arauco La Molina 21,448 56,548
Proyecto Especial de Infraestructura de Transporte Nacional 12,454 19,234
Others 4,226 1,196
241,469 213,393
Current 241,308 213,274
Non-current 161 119
241,469 213,393

The fair value of current accounts is approximate to their book value due to short-term maturities. The non-current part mainly includes non-financial liabilities such as advances received from customers; the remaining balance is not significant in the financial statements.

- 39 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

20. Other Provisions

The balance of this caption as of December 31, 2023 and June 30, 2024 is as follows:

As of As of
December 31, June 30,
In thousands of soles 2023 2024
Legal claims 91,530 94,876
Tax claims 59,362 60,346
Provision for well closure 64,261 66,678
215,153 221,900
Current portion 117,086 116,631
Non-current portion 98,067 105,269
215,153 221,900

For the periods ended June 30, 2023 and 2024, the changes in this caption are as follows:

Provision
Legal Tax for well
In thousands of soles claims claims closure Total
As of January 1, 2023 580,215 53,578 68,160 701,953
Additions 8,397 503 222 9,122
Present value 564 - 3,240 3,804
Reversals of provisions (2,541 ) (1,637 ) (548 ) (4,726 )
Reclasification (6 ) (4,196 ) - (4,202 )
Payments (4,922 ) - (38 ) (4,960 )
Translation adjustments / Exchange difference (7,941 ) - (1,206 ) (9,147 )
As of June 30, 2023 573,766 48,248 69,830 691,844
As of January 1, 2024 91,530 59,362 64,261 215,153
Additions 8,245 984 841 10,070
Present value 90 - 2,258 2,348
Reversals of provisions (1,300 ) - - (1,300 )
Reclasification (75 ) - (148 ) (223 )
Payments (3,811 ) - (1,044 ) (4,855 )
Translation adjustments / Exchange difference 197 - 510 707
As of June 30, 2024 94,876 60,346 66,678 221,900

As of June 30, 2024, the provisions held by the Corporation are substantially the same as of December 31, 2023.

- 40 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

21. Capital

On December 27, 2023, the Company issued 174,984,912 new common shares, at a price per share of S/0.4971, increasing the Company's capital stock from S/1,196,979,979 to S/1,371,964,891. The total shares were fully subscribed and paid in two pre-emptive subscription rounds and in the Private Offering. A placement loss of S/87,999,912 was determined, equivalent to the difference between the nominal value of the new common shares issued and the total amount paid. On February 1, 2024, the capital increase was registered in the Company's registry.

On October 31, 2023, the Board of Directors of AENZA approve to initiate the delisting process of shares, represented by American Depositary Securities (ADSs), on the New York Stock Exchange (NYSE), and the deregistration process of such instruments with the Securities and Exchange Commission of the United States of America (SEC) and the termination of the ADS Programme. On December 7, 2023 was the last trading day of the ADSs on the NYSE. As of December 31, 2023, a total of 70,312,080 shares were represented by ADSs, equivalent to 4,687,472 ADSs at a ratio of 15 shares per ADS. At the end of 2023, there were no shares represented in ADSs.

22. Deferred Income Tax

The changes in deferred income taxes are as follows:

In thousands of soles 2023 2024
Balance as of January 1 167,330 67,069
Debit (credit) to income statement (note 27) (25,110 ) (8,398 )
Other movements (216 ) 1,142
Balance as of June, 30 142,004 59,813
23. Revenue from Contracts with Customers

The corporation's income is derived principally from the following:

For the three-month period For the six-month period
ended June 30 ended June 30
In thousands of soles 2023 2024 2023 2024
Construction activities 589,395 547,282 1,038,038 1,093,265
Services provided 259,763 253,942 516,343 532,576
Sale of real estate and goods 187,763 169,992 332,678 342,660
Revenue from contracts with customers 1,036,921 971,216 1,887,059 1,968,501

- 41 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

A. Revenues from contracts with customers are mainly broken down by the following periods:
For the three-month period ended June 30, Engineering and construction Energy Infrastructure Real estate Parent Company operations Total
In thousands of soles 2023 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 2024
Primary geographical markets
Peru 356,264 354,646 146,116 181,562 170,855 172,814 76,546 32,610 6,193 6,302 755,974 747,934
Chile 184,075 65,930 - - - - - - - - 184,075 65,930
Colombia 96,872 157,352 - - - - - - - - 96,872 157,352
637,211 577,928 146,116 181,562 170,855 172,814 76,546 32,610 6,193 6,302 1,036,921 971,216
Major products/ service lines
Construction activities 589,395 547,282 - - - - - - - - 589,395 547,282
Engineering services 47,816 30,646 - - - - - - - - 47,816 30,646
Oil and gas extraction, storage and dispatching services - - 33,754 42,819 - - - - - - 33,754 42,819
Transportation services - - - - 102,035 102,763 - - - - 102,035 102,763
Road concession services - - - - 67,604 68,870 - - - - 67,604 68,870
Water treatment service - - - - 1,216 1,181 - - - - 1,216 1,181
Property rental - - - - - - 1,145 1,361 - - 1,145 1,361
Parent company services and others - - - - - - - - 6,193 6,302 6,193 6,302
Sale of real estate and lots - - - - - - 75,401 31,249 - - 75,401 31,249
Sale of oil and gas - - 112,362 138,743 - - - - - - 112,362 138,743
637,211 577,928 146,116 181,562 170,855 172,814 76,546 32,610 6,193 6,302 1,036,921 971,216
Timing of revenue recognition
Transferred at a point in time - - 146,116 181,562 - - 76,546 32,610 6,193 6,302 228,855 220,474
Transferred over time 637,211 577,928 - - 170,855 172,814 - - - - 808,066 750,742
637,211 577,928 146,116 181,562 170,855 172,814 76,546 32,610 6,193 6,302 1,036,921 971,216
Revenue from contracts with customers 637,211 577,928 146,116 181,562 170,855 172,814 76,546 32,610 6,193 6,302 1,036,921 971,216

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

For the six-month period ended June 30, Engineering and construction Energy Infrastructure Real estate Parent Company operations Total
In thousands of soles 2023 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 2024
Primary geographical markets
Peru 588,342 691,127 310,992 353,937 340,904 370,835 94,196 76,431 11,695 12,482 1,346,129 1,504,812
Chile 349,546 122,136 - - - - - - - - 349,546 122,136
Colombia 191,384 341,553 - - - - - - - - 191,384 341,553
1,129,272 1,154,816 310,992 353,937 340,904 370,835 94,196 76,431 11,695 12,482 1,887,059 1,968,501
Major products/ service lines
Construction activities 1,038,038 1,093,265 - - - - - - - - 1,038,038 1,093,265
Engineering services 91,234 61,551 - - - - - - - - 91,234 61,551
Oil and gas extraction, storage and dispatching services - - 70,253 85,172 - - - - - - 70,253 85,172
Transportation services - - - - 203,606 204,427 - - - - 203,606 204,427
Road concession services - - - - 134,819 163,966 - - - - 134,819 163,966
Water treatment service - - - - 2,479 2,442 - - - - 2,479 2,442
Property rental - - - - - - 2,257 2,536 - - 2,257 2,536
Parent company services and others - - - - - - - - 11,695 12,482 11,695 12,482
Sale of real estate and lots - - - - - - 91,939 73,895 - - 91,939 73,895
Sale of oil and gas - - 240,739 268,765 - - - - - - 240,739 268,765
1,129,272 1,154,816 310,992 353,937 340,904 370,835 94,196 76,431 11,695 12,482 1,887,059 1,968,501
Timing of revenue recognition
Transferred at a point in time - - 310,992 353,937 - - 94,196 76,431 11,695 12,482 416,883 442,850
Transferred over time 1,129,272 1,154,816 - - 340,904 370,835 - - - - 1,470,176 1,525,651
1,129,272 1,154,816 310,992 353,937 340,904 370,835 94,196 76,431 11,695 12,482 1,887,059 1,968,501
Revenue from contracts with customers 1,129,272 1,154,816 310,992 353,937 340,904 370,835 94,196 76,431 11,695 12,482 1,887,059 1,968,501

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

B. Balances of contract assets and liabilities is mainly comprised of:
As of As of
December 31, June 30,
In thousands of soles Note 2023 2024
Receivables 10.a 204,167 267,601
Unbilled receivables 10.b and c 1,626,605 1,603,117
Guarantee deposits 12.e 82,230 71,474
Advances received from customers 19.b (241,469 ) (213,393 )

Contract assets primarily relate to rights to consideration for work performed, but not billed at the reporting date. Contract liabilities relate primarily to advance consideration received from customers for which revenue is recognized over time.

The following is a detail of the movement of contract liabilities:

For the three-month period For the six-month period
ended June 30 ended June 30
In thousands of soles 2023 2024 2023 2024
Balance as beginning of period 378,457 238,113 365,730 241,456
Advances received from customers 210,071 73,271 313,863 162,467
Compensation of customer advances (117,366 ) (97,991 ) (208,431 ) (190,530 )
Balance as of June, 30 471,162 213,393 471,162 213,393

Revenue from contract liabilities recognized as of June 30, 2024, is S/190.5 million (S/208.4 million as of June 30, 2023).

24. Expenses by Nature

For the periods ended June 30, 2023 and 2024, this caption comprises the following:

For the three-month period For the six month period
ended June 30 ended June 30
Cost Cost
of goods Administrative of goods Administrative
In thousands of soles Note and services expenses Total and services expenses Total
2023
Salaries, wages and fringe benefits 251,801 31,917 283,718 507,878 61,080 568,958
Services provided by third-parties 348,308 16,839 365,147 606,853 26,274 633,127
Purchase of goods 149,318 - 149,318 259,661 - 259,661
Other management charges 93,963 1,622 95,585 183,967 4,414 188,381
Depreciation 15.a 12,811 4,631 17,442 27,488 7,890 35,378
Amortization 15.b 38,787 988 39,775 73,083 1,978 75,061
Impairment of accounts receivable 1,289 891 2,180 1,289 891 2,180
Taxes 6,358 172 6,530 11,632 396 12,028
902,635 57,060 959,695 1,671,851 102,923 1,774,774
Cost Cost
of goods Administrative of goods Administrative
In thousands of soles Note and services expenses Total and services expenses Total
2024
Salaries, wages and fringe benefits 213,253 32,219 245,472 402,616 62,356 464,972
Services provided by third-parties 287,240 14,714 301,954 599,733 26,537 626,270
Purchase of goods 210,184 - 210,184 430,794 - 430,794
Other management charges 93,669 2,884 96,553 191,293 5,880 197,173
Depreciation 15.a 11,881 2,993 14,874 22,512 5,982 28,494
Amortization 15.b 33,253 1,595 34,848 62,962 3,143 66,105
Taxes 5,699 286 5,985 14,555 566 15,121
855,179 54,691 909,870 1,724,465 104,464 1,828,929

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

25. Other Income and Expenses, Net

For the periods ended June 30, 2023, and 2024, this item comprises:

For the three-month period For the six-month period
ended June 30, ended June 30,
In thousands of soles 2023 2024 2023 2024
Other income:
Sale of assets and intangibles 2,957 5,239 4,000 5,955
Recovery of provisions and impairments 557 328 1,900 674
Penalty income 167 119 326 584
Insurance compensation 316 51 2,978 75
Supplier debt forgiveness 13 - 158 -
Others 1,619 1,263 2,757 2,485
5,629 7,000 12,119 9,773
Other expenses:
Net cost of fixed assets disposal 1,515 4,384 2,138 4,613
Administrative sanctions and legal processes 1,999 1,073 6,847 4,339
Disposal of assets 394 336 596 363
Others 1,153 633 1,537 914
5,061 6,426 11,118 10,229
Other income and expenses, net 568 574 1,001 (456 )
26. Financial Income and Expenses
A. Financial Income and Expenses

For the periods ended June 30, 2023 and 2024, this caption comprises the following:

For the three-month period For the six-month period
ended June 30, ended June 30,
In thousands of soles 2023 2024 2023 2024
Financial income:
Interest on bank deposits 6,768 5,402 13,187 12,711
Exchange difference gain, net (note 4.A.a.i) 1,083 - 12,379 -
Others 281 324 598 564
8,132 5,726 26,164 13,275
Financial expenses:
Interest expense on:
- Bank loans 23,337 18,289 44,708 41,555
- Bonds 4,628 18,405 9,417 22,320
- Loans from third parties 1,988 7,528 4,819 12,838
- Financial lease right-of-use 1,168 833 2,476 1,744
- Financial lease 1 - 9 -
Commissions and collaterals 4,143 2,119 8,925 7,561
Interests from Tax Administration 7,417 5,136 10,483 8,854
Exchange difference loss, net (note 4.A.a.i) - 3,817 - 19,300
Other financial expenses 1,943 2,035 5,600 4,348
44,625 58,162 86,437 118,520

As of June 30, 2024, the increase corresponds mainly to accrued interests and the amortization of prepaid interest and costs incurred on the bonds issued by the Company on May 14, 2024, for US$210 million (Note 17.a).

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

B. Gain (loss) from present value of financial assets or liabilities

For the periods ended June 30, 2023, and 2024 comprises:

For the three-month period For the six-month period
ended June 30, ended June 30,
In thousands of soles 2023 2024 2023 2024
Interest income for present value of financial asset or liability (a) 6,910 755 24,549 1,769
Interest expenses for present value of financial asset or liability (b) (553 ) (13,189 ) (4,386 ) (16,508 )
6,357 (12,434 ) 20,163 (14,739 )

For the period ended June 30, 2024, there is a net decrease compared to the same period of the previous year mainly due to:

a) Decrease due to the adjustment in the present value of the account receivable from Gasoducto Sur Peruano S.A. for S/18 million due to the decrease in the discount rate applied from 5.86% to 4.98% as of June 30, 2023.
b) Increase due to adjustment to the fair value of the loan from BCI in Inversiones en Autopistas S.A. for S/12.4 million due to the increase in the discount rate applied from 9.23% to 9.97% as of June 30, 2024.
27. Income Tax

A. For the periods ended June 30, 2023 and 2024, the income tax expense shown in the consolidated statement of profit comprises:

For the three-month period For the six-month period
ended June 30, ended June 30,
In thousands of soles 2023 2024 2023 2024
Current income tax 11,289 14,352 47,303 49,627
Deferred income tax (note 22) 28,743 21,248 25,110 8,398
Income tax expense 40,032 35,600 72,413 58,025

B. For the periods ended June 30, 2023 and 2024, the Corporation's income tax differs from the notional amount that would result from applying the Corporation's weighted average corporate income tax rate to consolidated pretax income as follows:

For the three-month period For the six-month period
ended June 30, ended June 30,
In thousands of soles 2023 2024 2023 2024
Profit (loss) before income tax 48,450 (2,128 ) 74,832 20,762
Income tax by applying local applicable tax
rates on profit generated in the respective countries 15,057 (3,410 ) 23,297 2,383
Tax effect on:
- Non-deductible expenses 6,328 19,052 8,435 29,800
- Unrecognized deferred income tax asset 12,386 (1,235 ) 31,397 2,740
- Equity method (234 ) (243 ) (489 ) (481 )
- Provision of tax contingencies 4,724 - 4,724 -
- Change in prior years estimations 1,771 16,573 5,049 18,720
- Others - 4,863 - 4,863
Income tax 40,032 35,600 72,413 58,025

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

28. Contingencies, Commitments and Guarantees

Under Management's opinion and of its legal advisors, provisions recognized mainly for civil lawsuits, labor disputes, tax claims, contentious and administrative processes are sufficient to cover the results of these probable contingencies (note 20), and the balance of possible contingencies is S/484.1 million (S/482.3 million as of December 31, 2023).

As of June 30, 2024, the Corporation maintains guarantees and letters of credit in force in several financial entities guaranteeing operations for US$554.74 million (US$538.3 million, as of December 31, 2023).

29. Non-Controlling Interests

The following table summarizes information regarding each of the Corporation's subsidiaries that have significant noncontrolling interests, prior to any intragroup elimination. any intragroup elimination.

At June 30, 2023 VIVA Negocio inmobiliario S.A.C. and subsidiaries Red Vial 5 S.A. Tren Urbano de Lima S.A. Cumbra Ingenieria S.A. and subsidiaries Unna Energia S.A. Cumbra Peru S.A. and subsidiaries Promotora Larcomar S.A. Other individually immaterial subsidiaries Intra-group eliminations Total
In thousands of soles
Percentage of non-controlling interest 0.46 % 33.00 % 25.00 % 10.59 % 5.00 % 0.61 % 53.45 %
Current assets 486,343 91,235 307,026 132,723 191,493 1,317,830 299
Non-current assets 181,724 301,350 731,270 9,140 691,177 840,114 13,368
Current liabilities (216,560 ) (59,547 ) (109,076 ) (108,965 ) (218,634 ) (1,750,499 ) (51 )
Non-current liabilities (71,813 ) (162,374 ) (701,532 ) (1,298 ) (207,676 ) (138,888 ) (7,729 )
Net assets 379,694 170,664 227,688 31,600 456,360 268,557 5,887
Net assets atributable to non-controlling interest 95,692 56,319 56,922 3,341 32,720 878 3,147 (115 ) 31 248,935
Revenues 94,373 102,279 204,678 99,187 310,992 1,039,497 -
Profit of the period 12,704 15,585 39,410 27 21,958 (78,508 ) 58
Other comprehensive income - - - (45 ) - 9,011 - 286 - 9,252
Total comprehensive income for the period 12,704 15,585 39,410 (18 ) 21,958 (69,497 ) 58
Profit (loss) of the period, allocated to non-controlling interest 7,203 5,143 9,853 11 3,337 (611 ) 31 (176 ) 190 24,981
Other comprehensive income, allocated to non-controlling interest - - - (5 ) - 40 - - - 35

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AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

At June 30, 2024 VIVA Negocio inmobiliario S.A.C. and subsidiaries Red Vial 5 S.A. Tren Urbano de Lima S.A. Cumbra Ingenieria S.A. and subsidiaries Unna Energia S.A. Cumbra Peru S.A. and subsidiaries Promotora Larcomar S.A. Other individually immaterial subsidiaries Intra-group eliminations Total
In thousands of soles
Percentage of non-controlling interest 0.46 % 33.00 % 25.00 % 10.59 % 5.00 % 0.47 % 53.45 %
Current assets 395,619 118,952 307,695 119,637 278,236 1,246,663 298
Non-current assets 184,833 219,406 773,461 6,785 682,788

701,213

13,368
Current liabilities (129,487 ) (120,852 ) (130,922 ) (97,100 ) (275,763 ) (1,304,675 ) (53 )
Non-current liabilities (71,713 ) (113,294 ) (693,989 ) (136 ) (195,277 ) (136,075 ) (7,756 )
Net assets 379,252 104,212 256,245 29,186 489,984 507,126 5,857
Net assets atributable to non-controlling interest 87,018 34,390 64,061 3,080 35,217 2,247 3,130 (111 ) (1,948 ) 227,084
Revenues 76,537 117,196 205,540 61,550 353,937 1,101,361 -
Profit of the period 10,204 25,120 39,340 450 33,765 (69,555 ) (18 )
Other comprehensive income - - - 70 - (3,946 ) - (701 ) - (4,577 )
Total comprehensive income for the period 10,204 25,120 39,340 520 33,765 (73,501 ) (18 )
Profit (loss) of the period, allocated to non-controlling interest 7,911 8,290 9,835 48 3,872 (335 ) (10 ) 15 - 29,626
Other comprehensive income, allocated to non-controlling interest - - -

8

- (20 ) - - - (12 )

- 48 -

AENZA S.A.A. and Subsidiaries

Notes to the Interim Condensed Consolidated Financial Statements

As of December 31, 2023, and June 30, 2024

30. Dividends

In compliance with certain covenants applicable as of to this date produced by agreements subscribed by the corporation, the Company will not pay, except for transactions with non-controlling interests. Certain of our debt or other contractual obligations may restrict our ability to pay dividends in the future.

Additionally, the Collaboration and Benefits Agreement does not allow the distribution of dividends until 40% of the total amount of the committed civil penalty described in note 1.C has been paid.

For the period ended June 30, 2024, the Corporation's subsidiaries have paid dividends to its non-controlling interests of S/24.6 million and paid S/6.8 million plus S/8.1 million for dividends declared in 2023 (as of June 30, 2023, the subsidiaries paid S/50.7 million to its non-controlled interests).

31. Gain (Loss) per Share

The basic (loss) gain per common share has been calculated by dividing the loss of the period attributable to the Corporate's common shareholders by the weighted average of the number of common shares outstanding during that period.

For the periods ended June 30, 2023, and 2024, the basic loss per common share is as follows:

For the three-month period For the six-month period
ended June 30, ended June 30,
In thousands of soles 2023 2024 2023 2024
Loss attributable to owners of the Company during the period (5,174 ) (51,349 ) (22,562 ) (66,889 )
Weighted average number of shares in issue at S/1.00 each, at June 30, 1,196,979,979 1,371,964,891 1,196,979,979 1,371,964,891
Basic loss per share (in S/) (*) (0.004 ) (0.038 ) (0.019 ) (0.049 )
Weighted average number of shares (diluted) in issue at S/1.00 each, at June 30, 1,196,979,979 1,371,964,891 1,196,979,979 1,371,964,891
Diluted loss per share (in S/) (*) (0.004 ) (0.038 ) (0.019 ) (0.049 )
(*) The Corporation does not have common shares with dilutive effects as of June 30, 2023 and 2024.
32. Events after the date of the interim condensed financial statement

From July 1, 2024, through the date of issuance of this report, the following significant event has occurred:

Capital Increase

On July 24, 2024, the Board of Directors agreed to call a general shareholders' meeting, on first call on August 20, 2024, on second call on August 26, 2024, and on third call on September 2, 2024, respectively. The purpose of this meeting is to submit a capital increase through new cash contributions, up to an amount in local currency equivalent to US$55 million. Likewise, the meeting will also address the terms for the exercise of the corresponding pre-emptive subscription right and the delegation of powers to the Board of Directors for the definition of the terms of the capital increase.

In addition to this event, no additional material facts or events have occurred that would require adjustments or disclosures in the consolidated financial statements as of June 30, 2024.

- 49 -

July 24, 2024

SIGNATURES

Pursuant to the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

AENZA S.A.A.

By: /s/ CRISTIAN RESTREPO HERNANDEZ
Name: Cristian Restrepo Hernandez
Title: VP of Corporate Finance
Date: July 24, 2024

Consolidated Results Report 2Q2024 July 24, 2024

Consolidated Results Report - Third Quarter of 2014 Consolidated Results Report - 2Q2024 This management discussion and analysis (MD&A) should be used in combination with the fi - nancial statements for the second quarter 2024 (2Q 2024). The aforementioned financial statements can be downloaded from our website: https://investorrelations.aenza.com.pe/reportes/estados - financieros/consolidados Financial results include adjustments to the revenue and cost recognition methodology in the subsidiaries of the Engineering & Construction business unit . As of December 31 , 2023 , the Com - pany recognized service revenue from construction contracts on a percentage - of - completion ba - sis in accordance with the product method ; however, given the current terms of customer con - tracts awarded beginning in 2024 , management believes that the method that best reflects and measures the transfer of control of goods and services to its customers and full satisfaction of the performance obligation is the recourse method . Therefore, beginning in 2024 , the Company applies the recourse method to measure the progress of all of its contractual performance obli - gations being satisfied over time . Page 2

Consolidated Results Report - Third Quarter of 2014 1. Page 3 Full and timely compliance with our legal and civil commitments to the Peruvian prosecutor (Fiscalía) and the Peruvian General Attorney (Procuraduría), including payment of civil reparations and/or fines according to the schedule agreed with these two institutions; 2. Enhances our compliance best practices, such as the continued strengthening of a strong compliance structure, policies, procedures and training in line with the U . S . Foreign Corrupt Practices Act, other applicable anti - corruption rules and regulations, and Anti - Money Laundering standards, supported by the redesign and implementation of new committee structures . 3. Strengthening the company's corporate governance structure with best practices, including changes to the organization of our Board of Direc - tors, which now consist of four committees, that will allow for a comprehensive corporate oversight and demonstrate the company's commit - ment to the highest corporate governance standards ; 4. Execution of our proposed corporate reorganization, which involves the creation of two holding companies, one of which will be a regional infra - structure development platform . At the same time, we will continue to seek opportunities to complement our portfolio and strengthen our mar - ket position, with the goal of becoming a leading concession management company in the region ; and 5. Continue ongoing discussions with the Peruvian government on new projects associated with Line 1 and Norvial. Consolidated Results Report - 2Q2024 Strategy Our strategy is to strengthen our business units, with the goal of becoming one of the leading Latin American infrastructure development platforms . Considering the high entry barriers that the infrastructure business entails, the company's plan is to build on top of the leadership as an infrastructure company in Peru, expanding its business to nearby countries like Chile, Colombia, and Brazil, through new concessions and PPPs from third parties . We intend to participate in new tenders and acquisitions in Peru and other countries in the region, including Chile, Colombia and Brazil, with the goal of creating one of the largest regional platform for the development of infrastructure projects . In addition, as part of our strategy for the next years, we will also enhance our other business units. In our Energy business we will continue to deliver refined hydrocarbons from the terminals that we operate, and we will seek to advance production from Blocks III and IV and our Gas Plant in Talara. Our Real Estate business will seek to grow in the affordable housing sector. Finally, our Engineering and Construction business will work to consolidate its position in Chile and Colombia and continue to strengthen its focus in Peru, while we explore options for a strategic partnership. Our strategy for the next years is to focus on the following initiatives:

Consolidated Results Report - Third Quarter of 2014 Consolidated Results Report - 2Q2024 Executive Summary As of 2 Q 2024 , our projects are developing in a normalized manner . The Energy is developing the 2 nd drilling campaign of Block III and the 7 th drill - ing campaign of Block IV . Likewise, on July 24 , 2024 , the Board of Directors agreed to convene a General Shareholders' Meeting, on first call on August 20 , 2024 , on second call on August 26 , 2024 , and on third call on September 2 , 2024 , respectively, to submit to the Meeting, in two separate sessions, i) a capital increase by new monetary contributions up to the amount in local currency equivalent to US $ 55 , 000 , 000 . 00 , the terms for the exercise of the corresponding preemptive subscription right and the delegation of powers to the Board of Directors for the definition of the terms of the capital increase, and ii) the definition of the number of members of the Board of Directors and the Board candidates to be elected for the period August 2024 to March 2027 . Page 4 (i) In June 2018, AENZA transferred economic rights over 48.8% of the share capital of Red Vial 5 S.A.A. The company continues to possess voting rights over Red Vial 5 S.A.A. (ii) 43.3% of the equity in Viva owned by our subsidiary Cumbra was transferred to AENZA S.A.A. in 4Q2022. (iii) 100% of Cumbra Ingenieria shares of AENZA have been assigned to a trust formed in benefit of the Peruvian state to secure the company's contingent obligation to pay compensation in compliance with Law 30737. Note : The Consolidated Results Report presents the accumulated figures as of 2Q2023 and 2Q2024. References made to "2Q2023", "2Q2024" and "Second Quarter" are made to the period of six months from January 01 to June 30 of the corresponding year. % AENZA Term Type of Service Adj. EBITDA Margin % Revenues from AENZA (Consolidated) Subsidiaries 67 % ( i ) 2003 - 2028 Concessionaire of Red Vial 5 Highway 58.7% 5.6% Norvial Infrastructure 100.00% 2007 - 2032 Concessionaire of Nazca - Cuzco Highway - 5.8% 1.9% Survial 100.00% 2006 - 2025 Concessionaire of the Bs As - Canchaque Highway 17.8% 0.4% Canchaque 100.00% - Company that operates Peruvian roads and highways, including three private concessions and the Line 1 of the Lima Metro. 0.8% 6.3% UNNA Transporte 75.00% 2011 - 2041 Line 1 of the Lima Metro: Concessionaire of Line 1 47.8% 9.8% Línea 1 50.00% 2010 - 2037 La Chira: Concessionaire for the construction, operation and maintenance of a waste water treatment plant in Lima 42.2% 0.1% La Chira 95% (consolidated) 32.2% 16.8% UNNA Energía Energy 100.00% 2015 - 2045 B lo c k I I I 29.8% 11.1% Upstream Services 2015 - 2045 B lo c k IV 1993 - 2023 B lo c k V Gas Processing Plant owned by UNNA Energia since 2006 35.7% 2.1% Natural Gas Plant 50.00% 2014 - 2034 Operation of five fuel terminals in Peru North and Central Fuel Terminals 42.6% 2.1% Storage and Distribution 99. 5 4 % ( i i ) - Real estate development company 28.2% 3.6% Viva Real Estate 99.39% - Construction company, founded in 1933, comprised of three divisions: electromechanic construction, civil construction and building construction. - 2.0% 30.3% Cumbra Perú Engineering & Construction 99.16% - E&C company formed by the merger of two Chilean companies: Vial y Vives acquired in 2012 and DSD Construcciones y Montajes acquired in 2013. 23.6% 5.8% Vial y Vives - DSD 100.00% - Colombian company acquired in 2014, specialized in electromechanical assemblies, civil works, and services for the oil and gas industry and energy industry. - 14.0% 16.2% Morelco 89. 4 1 % ( i ii ) - Engineering consulting firm, founded in 1984, comprised of two different divisions: Supervision and Engineering & Geomatics. 3.8% 2.9% Cumbra Ingeniería

Consolidated Results Report - Third Quarter of 2014 Q U A RT E R LY REVE N UES (S/ MM) REVENUES BY SEGMENT as of 2Q2024 ADJUSTED EBITDA BY SEGMENT as of 2Q2024 GROSS PROFIT BY SEGMENT as of 2Q2024 QUARTERLY ADJUSTED EBITDA (S/ MM) Consolidated Results Report - 2Q2024 2Q2024 Financial Highlights x The Group achieved Revenues of S/ 1,969 MM during 2Q2024, 4.3% higher than the result obtained in 2Q2023 x Gross Profit amounted to S/ 244 MM in 2Q2024, a 13.4% increase compared to 2Q2023 x Consolidated Adjusted EBITDA was S/ 276 MM in 2Q2024, 4.0% higher than the result obtained 2Q2023 x A Net Loss of S/ 67 MM was registered in 2Q2024, 196.5% higher than the loss obtained in 2Q2023 x Backlog amounted to US$ 818 MM as of 2Q2024 and the recurrent businesses amounted to US$ 959 MM, reaching a total of US$ 1,778 MM Backlog plus recurrent businesses, equivalent to 1.54x the annual revenues 1 , 03 7 1,21 5 1 , 19 9 997 971 2 Q 2 3 3 Q 2 3 4 Q 2 3 1 Q 2 4 2 Q 2 4 156 318 235 143 133 2 Q 2 3 3 Q 2 3 4 Q 2 3 1 Q 2 4 2 Q 2 4 55% 24% 17% 4% 50% 60% 0 % 10 % 20 % 30% E n g i n ee r i n g & C on s t r u c t i o n Energy 40% I n f r as t r u c t u r e Real Estate 51% 30% 10% 8% 0% 10% 20% Engineering & Construction 30 % 40% Infrastructure 50% Energy 60% Real Estate - 11% 61% 42% 8% - 20% 0% Engineering & Construction 20 % 40% Infrastructure 60% E n e r g y 80% Real Estate Page 5

Consolidated Results Report - Third Quarter of 2014 Consolidated Results Report - 2Q2024 Consolidated Results Revenues Revenues at the end of 2 Q 2024 reached S/ . 1 , 968 . 5 MM, 4 . 3 % higher than the figure reported at the end of 2 Q 2023 . In the Engineering and Construction area, the increase in revenues was due to the higher production volume in the projects under execution, mainly in Morelco for the Santa Monica project with Ecopetrol in Colombia and in Cumbra Peru for the project with LAP for the construction of the new Jorge Chavez Airport Terminal, the San Gabriel project with Buenaventura, and the pro - ject with Parque Arauco for the La Molina Shopping Center . Likewise, in the Infrastructure area, the increase is mainly explained by higher revenues from Survial due to greater execution of works related to the El Niño Phenomenon and from Norvial due to greater traffic and execution of works . In Energy, the higher revenues are explained by the higher production and price of oil in the Up - stream business and the higher revenues in the Gas Plant related to the maquila service provided to Petroperú . Gross Profit Consolidated Gross Profit increased by 13.4% in 2Q2024 mainly due to better margins related to: i) in Energy due to better results in the Gas Plant related to the maquila service provided to Petroperú and to the Terminales business due to a growth in storage and dispatch, and ii) in Infrastructure due to higher traffic in Norvial . This was partially offset by lower margins in the Real Estate business due to lower sales of industrial lots in Almonte and in E&C due to the lower profit recorded in Morelco for the Santa Monica project with Ecopetrol . Operational Income Administrative Expenses increased by 1.5% in 2Q2024, reaching 5.3% of revenues compared to 5.5% of revenues in 2Q2023. Other Operating Income and Expenses in 2 Q 2024 mainly records in the E&C Business the adjust - ment of the provision for the INDECOPI fine of S/ 2 . 2 MM for the update of the tax unit in Cumbra Peru (S/ 4 . 0 MM in 2 Q 2023 ) and the sale of machinery . As a result, Operating Income increased in 2 Q 2024 compared to 2 Q 2023 , with a margin of 7 . 1 % in 2 Q 2024 vs . 6 . 0 % in 2 Q 2023 . Financial Expenses In 2 Q 2024 , net Financial Expenses increased by 91 . 8 % vs . 2 Q 2023 , mainly due to financial interest on the Corporate Bond and interest related to the plea agreement included since December 2023 . Likewise, in 2 Q 2024 an interest expense was recorded for an adjustment to fair value of the loan from BCI to Inversiones en Autopistas S . A . for S/ . 14 . 8 MM due to the increase in the discount rate . The Exchange Difference is mainly explained by the dollar position of assets and liabilities and the depreciation of the currency . Net income Consolidated Net Loss in 2Q2024 was S/. 66.9 MM. The net margin went from - 1.2% in 2Q2023 to - 3.4% in 2Q2024. EBITDA Adjusted EBITDA in 2Q2024 increased by 4.0% compared to 2Q2023 from S/. 265.0 MM to S/. 275.5 MM. Further details on the variations in figures are described in each of the business areas shown next. CAPEX As of 2Q2024 and 2Q2023, the CAPEX related to the Energy Business corresponds mainly to the drilling of wells in Blocks III and IV. Investments related to Line 1 for infrastructure and rolling stock spare parts are included as financial assets related to concession agreements in the cash flow from operating activities. Var % 2Q2024 2Q2023 CAPEX (Thousands of US$) 58.5% 912 575 Infrastructure - 48.7% 13,512 26,325 Energy 197.2% 412 139 Real Estate 29.0% 1,324 1,026 Engineering & Construction - - - Holding - 42.4% 16,160 28,065 Consolidated Page 6

Consolidated Results Report - Third Quarter of 2014 Consolidated Results Report - 2Q2024 Consolidated Results Backlog Consolidated Backlog (US $ 818 MM) plus the Recurrent Businesses (US $ 959 MM) amounted to a total backlog of US $ 1 , 778 MM as of 2 Q 2024 , which repre - sents a ratio of Backlog + Recurrent Businesses / Revenues of 1 . 54 years . From the total Backlog registered at the end of 2Q2024, US$ 380.2 MM will be executed during 2024, US$ 242.1 MM during 2025, and US$ 196.1 MM during 2026 onwards. From the recurrent businesses, US$ 139.4 MM in 2024, US$ 302.1 MM during 2025, and US$ 517.9 MM in 2026 onwards. As of June 2024, the Mancoraland contract was excluded from the E&C backlog because the client decided not to continue with the project. The recurrent businesses are the Oil and Gas segment and the concession of the toll road Ancon - Huacho - Pativilca (Norvial). For further details on the backlog, please go to the appendix page. Consolidated Backlog (US$ MM) Backlog by Type of Client 2Q2023 vs 2Q2024 Backlog by Business Segment 2Q2023 vs 2Q2024 Backlog by Sector 2Q2023 vs 2Q2024 Backlog by Geography 2Q2023 vs 2Q2024 1,29 0 1,11 6 1,15 2 1,060 818 927 890 887 959 1.9 5 1.73 921 1.7 6 1.6 2 1.5 4 0 . 0 0 0 . 5 0 1 . 0 0 1 . 5 0 2 . 0 0 2 . 5 0 0 5 0 0 1 , 0 0 0 1 , 5 0 0 2 , 0 0 0 2 , 5 0 0 2 Q 2 3 3 Q 2 3 4 Q 2 3 1 Q 2 4 2 Q 2 4 B a c kl o g Recurrent Businesses Backlog + Recurrent Businesses/ Revenues Ratio 2,036 2,042 1,948 1,778 2,217 En g i n ee r i n g & Construction 20% I n fr a s t r u ct u r e 40% Re a l E s t a te 2% En e rg y 38% Mi n i n g Pr oj e c ts 6% Oi l a n d G a s 46% Sew a g e 0.2% Re a l E s t a te W a ter a n d 3% T r an s po r t 44% Ot h e r s 1.0% P r i v a te 23% P ub li c 5% C on c e ss i on s 72% P e r u 94% C h il e 1% Co l omb i a 5% E n g in ee r in g & Construction 34% Re a l E s t a te 2% I n fr a s t r u c t u r e 34% En e rg y 30% Mining Projects, 9% O i l a n d G a s , 44% W a ter a n d Sewage, 0.1% Real Estate, 2% T r a n s po r t, 45% Ot h e rs , 0.1% Pr i v a te 31% P ubli c 11% Co n c e ss io n s 58% P e r u 87% Page 7 Chil e 2% Colo m bi a 11%

Consolidated Results Report - Third Quarter of 2014 P a ge 8 Consolidated Results Report - 2Q2024 Composition of Indebtedness Consolidated Financial Liabilities at the end of 2 Q 2024 amounted to US $ 496 . 3 MM (S/ . 1 , 904 . 1 MM) . Debt at the end of 2 Q 2024 increased 12 . 0 % compared to the end of 2023 , mainly due to the issuance of the Corporate Bond . Of the total Financial Debt, US $ 32 . 8 MM correspond to working capital, associated to the clients' accounts receivables and leasing's for the acquisition of machinery and equipment . The amount of US $ 232 . 8 MM corresponds to Infrastructure Project Finance, which is debt without recourse, with guarantees and cash flows from the project itself . Likewise, US $ 182 . 4 MM correspond to the Corporate Bond (excluding US $ 21 . 0 MM of the initial issuance discount - "OID") . On May 14 , 2024 , AENZA made an issu - ance of bonds in the international market for US $ 210 MM, with an amortization term of 5 years at maturity . The proceeds of this loan were used, among other corporate purposes, to execute the amortization of the bridge loan, fund the reserve account for the payment of the next bond coupon, repayment of certain financial obligations and the Company's organic and inorganic financing . On the other hand, US $ 38 . 6 MM correspond to the accounting record according to IFRS of the sale of 48 . 8 % of the shares of Norvial, which includes the transfer of political rights to AENZA, with an option to repurchase the shares . Additionally, US $ 9 . 6 MM correspond to leasings under IFRS 16 . Maturity of Financial Liabilities (US$ Thousands) Debt by Currency Debt by Business Unit Surety Bonds by Type Surety Bonds by Business Unit Surety Bonds: Consolidated surety bonds at the end of 2Q2024 amount to US$ 554.7 MM (S/. 2,128.5 MM). The surety bonds in Holding are related to the tax payment by installments with SUNAT. E ng i n ee r i n g & Construction 2% N o H o l d i n g 38% S o l es, 42 . 4 % U S D o ll a r s, 56.9% Chilean peso, 0.1% C o l o m b i a n p es o , 0.7% Financial Liabilities (US$ Thousands) 2Q2024 1Q2024 4Q2023 3Q2023 2Q2023 32,845 34,790 31,215 33,314 36,515 Working Capital + Leasing 232,842 244,722 248,985 247,206 256,862 P r o j e c t F i n a n c e - 7,614 7,980 7,985 7,970 C o r po r a t e De b t 265,687 287,126 288,179 288,504 301,347 Total banking debt - 102,478 102,324 123,963 122,979 B r i d g e L o a n 182,370 - - - - C o r po r a t e B on d 448,057 389,604 390,503 412,467 424,325 Total financial debt 38,580 36,949 37,871 40,901 42,509 Accounting record (IFRIC) for the sale of economic rights of Norvial 9,623 10,404 14,834 16,823 16,754 Leasings (IFRS 16) 496,259 436,958 443,208 470,191 483,589 Total 52 , 69 4 46 , 21 8 278,046 119,301 Less than 1 year B e t w een 1 a n d 2 y e a r s B e t w een 2 a n d 5 y e a r s M o r e t h a n 5 y e a r s Engineering & Construction 76% I n f r a es t r u c t u r e 11% R e a l E s t a te 1% E n e r g y 8% H o l d i n g 4% P e r fo rm a n c e Bond 49% Ad v a n c e P a ym e n t 26% F i n is h ed W o rk s - Performance Bond 17% Ot h e r s 8%

Consolidated Results Report - Third Quarter of 2014 Consolidated Results Report - 2Q2024 Infrastructure Revenues Infrastructure revenues in 2Q2024 increased 8.4% vs. 2Q2023, mainly due to higher menon (S/ . 20 . 7 MM) and Norvial for higher traffic and execution of works . As of 2 Q 2024 , 41 % of the Infrastructure business' revenues correspond to Line 1 , 26 % to UNNA Transporte and 23 % to Norvial . Norvi a l in 2Q2024. The increase in revenues in 2Q2024 was mainly due to higher traffic compared to 2Q2023 and higher execution of complementary works. 2 Q 2023 to S/ . 29 . 8 MM in 2 Q 2024 , with an increase of 3 . 0 % of vehicles transiting the road . Additionally, revenues from heavyweight traffic increased 10 . 3 % from S/ . 71 . 6 MM in 2 Q 2023 to S/ . 79 . 0 MM in 2 Q 2024 , with an increase of 5 . 8 % of vehicles transiting the road . Traffic during 1 S 23 was affected by rains in the north of the country and road blockades in line with social protests . Line 1 of the Lima Metro Line 1 Revenues remained stable in 2 Q 2024 compared to 2 Q 2023 . Revenues in - creased due to the increase in additional kilometers, offset by higher capital amorti - zation applied to the long - term account receivable that is considered in the sale by accounting standards and by the indexation of the tariff due to lower WPI (price index) . The Gross Profit from the Infrastructure area increased 14 . 7 % from S/ . 103 . 1 MM in 2 Q 2023 to S/ . 118 . 3 MM in 2 Q 2024 , reporting a gross margin of 23 . 4 % as of 2 Q 2024 . During 2 Q 2023 , the lower margin is mainly explained by higher operating costs in Line 1 and Norvial related to higher maintenance . Likewise, during 2 Q 2024 Norvial recorded better margins related to higher traffic . Administrative Expenses increased 25 . 4 % in 2 Q 2024 compared to 2 Q 2023 , reach - ing 4 . 0 % of sales compared to 3 . 4 % at the end of 2 Q 2023 . The increase was mainly due to Norvial and studies associated with the development of new businesses . Net Financial Expenses decreased 32.4% in 2Q2024 compared to 2Q2023 from S/. 10.0 MM to S/. 6.8 MM. The decrease was mainly due to the reduction of financial expenses in Norvial. The Exchange Difference is explained in Survial by the exposure in dollars of an account receivable and the appreciation of the dollar in the period. Net Income reached S/ . 47 . 8 MM in 2 Q 2024 , reporting an increase of 34 . 6 % com - pared to 2 Q 2023 . This is explained by the results described above, registering a net margin of 9 . 5 % , higher than the 7 . 6 % margin of 2 Q 2023 . Adjusted EBITDA was S/ . 168 . 3 MM in 2 Q 2024 , with an EBITDA margin of 33 . 4 % . Of the total EBITDA of the Infrastructure area, 58 % corresponds to Line 1 of the Lima Metro and 41 % to Norvial . I n c o m e S tate m e n t ( T hou sa nd s o f S / ) 2 Q 202 3 2 Q 202 4 Var Revenues 465,757 504,679 revenues from Survial for higher execution of works related to the El Niño Pheno - GROSS PROFIT 103,089 1 18 Administrative expenses Other income and expenses, net (15,907) 419 O PE R A T I O N A L I N CO M E 87,6 0 1 ( 9 , Financial (expense) income, net Participation in Associates Exchange rate difference Norvial's Revenues increased 14.6% from S/. 102.3 MM in 2Q2024 to S/. 117.2 MM PROFIT BEFORE INCOME TAX Income tax Non - controlling interest NET INCOME Revenues from lightweight vehicles increased 7.3% in 2Q2024 from S/. 27.8 MM in EBITDA Adjusted EBITDA F i n an Gross Margin O p er a t in g M a r g i n Net Margin EBITDA Fi 2Q 2024 Norvial ( M S/) 2Q 2023 117,196 102,279 Revenues 108,727 99,360 Revenues from operation 29,775 27,751 - Lightweight vehicles 78,952 71,609 - Heavyweight vehicles 8,469 2,919 Construction Revenues 68,831 59,316 EBITDA 67,585 59,291 EBITDA from operation 1,246 25 EBITDA from construction 3,548,901 3,446,571 Lightweight traffic (units) 2,312,494 2,186,529 Heavyweight traffic (units) 2Q 2024 Line 1 (M S/) 2Q 2023 205,540 204,678 Revenues 205,540 204,678 Revenues from operation 133,505 134,924 PKT2 73,968 74,752 PKT3 5,321 486 PKTA - - Construction Revenues 98,209 93,887 EBITDA 98,209 93,887 EBITDA from operation - - EBITDA from construction 2,539,370 2,417,949 Total km travelled 44 44 Trains (units) Page 9

Consolidated Results Report - Third Quarter of 2014 Consolidated Results Report - 2Q2024 Infrastructure Backlog . The Infrastructure Area reported a Backlog of US$ 510.9 MM in 2Q2024, and a total of US$ 253.1 MM of recurrent businesses in Norvial. The total Backlog will be executed as follows : US $ 95 . 5 MM in 2024 , US $ 172 . 2 MM in 2025 , and US $ 243 . 3 MM in 2026 onwards . In Norvial, US $ 38 . 8 MM will be executed in 2024 , US $ 82 . 2 MM in 2025 , and US $ 132 . 1 MM in 2026 onwards . Backlog (Million of US$) as of 2Q2024 Revenues (Million of S/) EBITDA (Million of S/) Net Income (Million of S/) 2 Q 20 2 3 2 Q 20 2 4 2 Q 20 2 3 2 Q 20 2 4 2 Q 2 0 2 3 2 Q 2 0 2 4 117 132 206 48 Norvial U N N A T r a n s p o r te L í n ea 1 Survial/Canchaque 69 1 98 N or v i a l U N N A T r a n s p o r te Línea 1 Survial/Canchaque - 1 10 - 2 30 - 4 Norvial U N N A T r a n s p o r te L ín ea 1 S u r vial/Canchaq u e 17 30 3 N o r v i a l U N N A T r a n s p o r te L í n ea 1 - 2 Survial/Canchaque 561 535 536 537 511 237 232 246 247 253 - 20 0 40 0 60 0 80 0 1 , 00 0 2 Q 202 3 3 Q 202 3 4 Q 202 3 1 Q 202 4 2 Q 202 4 Backlog Norvial Page 10

Consolidated Results Report - Third Quarter of 2014 P a ge 11 to 2 Q 2023 due to higher storage (from 6 , 343 MBLS to 7 , 409 MBLS) and dispatch volumes (from 3 , 729 MBLS to 4 , 471 MBLS) . The Gross Profit of the Energy area increased from S/ . 43 . 2 MM in 2 Q 2023 to S/ . 70 . 3 MM in 2 Q 2024 , reporting a gross margin of 19 . 9 % in 2 Q 2024 . The increase is mainly explained by better results at the Gas Plant related to the maquila service provided to Petroperu and to the Storage & Distribution business due to an increase in storage and dispatch . Administrative Expenses were 1 . 8 % higher in 2 Q 2024 compared to 2 Q 2023 , reaching 2 . 3 % of sales compared to 2 . 6 % at the end of 2 Q 2023 . This was due to lower personnel costs . Financial Expenses increased by 31 . 8 % related to the US $ 15 MM loan from Holding for the investment in the Upstream business . The Exchange Difference is mainly explained by the dollar position of assets and liabilities . Net Income reached S/ . 29 . 9 MM in 2 Q 2024 , reporting an increase of 60 . 5 % compared to 2 Q 2023 . This is explained by the results described above, registering a net margin of 8 . 4 % , higher than the 6 . 0 % margin of 2 Q 2023 . EBITDA was S/ . 113 . 9 MM in 2 Q 2024 , with an EBITDA margin of 32 . 2 % . Revenues (Million of S/.) 2Q2023 vs 2Q2024 EBITDA (Million of S/.) 2Q2023 vs 2Q2024 Net Income (Million of S/.) 2Q2023 vs 2Q2024 Backlog The Backlog of the Energy Area as of 2Q2024 was US$ 740.1 MM. The total Backlog will be executed as follows: US$ 107.9 MM in 2024, US$ 231.0 MM in 2025, and US$ 401.2 MM in 2026 onwards. Backlog (Million of US$) as of 2Q2024 Consolidated Results Report - 2Q2024 Energy Energy Business Revenues increased by 13 . 8 % from S/ . 311 . 0 MM in 2 Q 2023 to S/ . 353 . 9 MM in 2 Q 2024 , mainly due to the higher oil production and price in the Upstream business and the higher income in the Gas Plant related to the maquila service provided to Petroperu . As of 2 Q 2024 , 66 % of sales correspond to the Upstream Services business, 13 % to the Gas Plant, 13 % to the Storage & Distribution Business, and 8 % to the operation of the Pisco Camisea fuel terminal in association with Oil Tanking . Upstream Services Revenues in 2 Q 2024 were 12 . 6 % higher than those reported in 2 Q 2023 . The average oil price increased from US $ 78 . 52 /bbl in 2 Q 2023 to US $ 82 . 69 /bbl in 2 Q 2024 , with average BPD production of 3 , 751 BPD in 2 Q 2023 and 4 , 038 BPD in 2 Q 2024 . Production in 1 S 2023 was impacted by the rains in the north of the country . Revenues associated with the Gas Plant increased 20 . 0 % in 2 Q 2024 compared to 2 Q 2023 , mainly due to the maquila service provided to Petroperu . This was partially offset by lower gas processing in 2 Q 2024 , from 29 . 73 MMPCD in 2 Q 2023 to 23 . 88 MMPCD in 2 Q 2024 . Likewise, the LPG price in 2 Q 2024 was US $ 56 . 72 /bbl . Var % 2Q2024 2Q2023 I n c o m e S tate m e n t ( T hou sa nd s o f S / ) 13.8% 353,937 310,992 Revenues 62.8% 70,319 43,201 G R O S S P R O FI T 1.8% (8,091) (7,945) Administrative expenses - 17.2% 529 639 Other income and expenses, net 74.8% 62,757 35,895 OPERATIONAL INCOME 31.8% (13,256) (10,060) Financial (expense) income, net 2.9% 1,631 1,585 Participation in Associates 154.9% (2,339) 4,262 Exchange rate difference 54.0% 48,793 31,682 PROFIT BEFORE INCOME TAX 54.5% (15,028) (9,724) Income tax - 16.0% (3,872) (3,337) Non - controlling interest 60.5% 29,893 18,621 NET INCOME 13.0% 113,928 100,841 EBITDA 2Q2024 2Q2023 Financial Ratios 19.9% 13.9% Gross Margin 17.7% 11.5% Operating Margin 8.4% 6.0% Net Margin 32.2% 32.4% EBITDA Margin Revenues related to the Storage and Distribution business increased 3.3% in 2Q2024 compared Financial Liabilities 131 , 33 2 115 , 65 5 2Q 2024 2Q 2023 Energy Business (M S/) 353,937 310,992 Revenues 113,928 100,841 EBITDA Upstream Services 233,604 207,525 Revenues 69,634 58,895 EBITDA 4,038 3,751 Oil production (Bpd average) 4.43 4.12 Gas production (MCFPD average ) 82.69 78.52 Oil price (average US$) Natural Gas Plant 45,121 37,605 Revenues 16,108 15,745 EBITDA 23.88 29.73 MMCFPD (average) 56.72 53.43 LPG price (average US$) 83.66 85.12 CNG price (average US$) Terminales (Storage and Distribution) 45,082 43,652 Revenues 16,250 15,735 Distribution Revenues 28,831 27,917 Storage Revenues 19,197 14,727 EBITDA 311 354 2 Q 202 3 2 Q 202 4 101 114 2 Q 202 3 2 Q 202 4 19 30 2 Q 202 3 2 Q 202 4 721 720 677 675 740 300 200 100 - 50 0 40 0 80 0 70 0 60 0 90 0 2 Q 202 3 3 Q 202 3 4 Q 202 3 1 Q 202 4 2 Q 202 4

Consolidated Results Report - Third Quarter of 2014 Consolidated Results Report - 2Q2024 Real Estate Revenues in 2 Q 2024 were 18 . 9 % lower than those reported in 2 Q 2023 , mainly due to the sale of a land in Almonte for S/ . 23 . 9 MM in 2 Q 2023 . We have a total of 8 projects in execution in the housing sector : Los Parques del Callao, Los Parques del Mar, Los Parques Comas Club Residencial, Los Parques de Comas Villas, Los Parques de Comas Techo Propio, Los Parques de Carabayllo, Parques de Huancayo, and Parques de Piura . 90% of the projects are being executed in Lima, while 10% are being executed in the prov - ince. The decrease in Gross Profit in 2 Q 2024 ( - 33 . 1 % ) is mainly explained by a higher margin related to the sale of industrial lots in Almonte in 2 Q 2023 , partially offset by higher social housing deliveries in Comas in 2 Q 2024 . Gross Margin went from 37 . 5 % in 2 Q 2023 to 30 . 9 % in 2 Q 2024 . Administrative Expenses in 2 Q 2024 decreased by 18 . 1 % compared to 2 Q 2023 , mainly due to lower personnel costs . The lower Net Financial Expenses in 2 Q 2024 are explained by lower interest due to the reduction of working capital debt, partially offset by lower financial income recorded in 2 Q 2024 related to the industrial lots business . Considering the net position of assets and liabilities in dollars, there is a negative impact in the exchange difference in line with the appreciation of the dollar . Net Income went from S/. 5.5 MM in 2Q2023 to S/. 2.3 MM in 2Q2024. Adjusted EBITDA was S/. 21.6 MM in 2Q2024, with a margin of 28.2%. Backlog The Backlog of the Real Estate Area as of 2 Q 2024 was US $ 32 . 9 MM . The projects included in the Backlog are : Los Parques de Comas, Los Parques del Callao, Parques de Huancayo, Los Parques de Carabayllo, Los Parques del Mar, among others . The total of the Backlog will be executed as follows: US$ 27.8 MM in 2024 and US$ 5.1 MM in 2025. Backlog (Million of US$) as of 2Q2024 Revenues (Million of S/) 2Q2023 vs 2Q2024 EBITDA (Million of S/) 2Q2023 vs 2Q2024 Net Income (Million of S/) 2Q2023 vs 2Q2024 Housing units delivered and sold Delivered Housing Units 2Q2023 2Q2024 Delivered Housing Units 372 370 Affordable Housing 2 5 Traditional Housing 1 1 Others Delivered Housing Units (M S/) 65,612 66,383 Affordable Housing 677 1,666 Traditional Housing 10,248 26,324 Others 94 77 2 Q 202 3 2 Q 202 4 33 22 2 Q 202 3 2 Q 202 4 6 2 2 Q 202 3 2 Q 202 4 327 299 461 231 144 2 Q 2 3 1 Q 2 4 2 Q 2 4 3 Q 2 3 4 Q 2 3 Delivered Housing Units S old H ou s in g Units 157 230 183 95 143 51 Page 12 45 41 34 33 - 2 0 4 0 6 0 8 0 2 Q 202 3 3 Q 202 3 4 Q 202 3 1 Q 202 4 2 Q 202 4

Consolidated Results Report - Third Quarter of 2014 Consolidated Results Report - 2Q2024 Engineering and Construction The Engineering and Construction Area reflected a 2.1% increase in sales in 2Q2024 vs. 2Q2023, due to the higher production volume in the projects under execution mainly in Morelco for the the construction of the new Jorge Chavez Airport Terminal, the San Gabriel project with Buena - project which ended in January 2024. Administrative Expenses in 2 Q 2024 were similar to 2 Q 2023 , reaching 4 . 7 % of sales vs . 4 . 8 % of sales in 2 Q 2023 . The Other Operating Expenses line in 2 Q 2024 records the adjustment of the provision for the INDECOPI fine for S/ 2 . 2 MM due to the update of the tax unit (S/ 4 . 0 MM in 2 Q 2023 ) and the sale of machinery . As a consequence of the results explained above, the operating result was - S/. 38.7 MM in 2Q2024, with an operating margin of - 3.3%. Financial Expenses decreased 35 . 9 % in 2 Q 2024 , from S/ . 22 . 9 MM in 2 Q 2023 to S/ . 14 . 7 MM in 2 Q 2024 . This is mainly explained by lower financial expenses in Cumbra Peru and Vial and Vives - DSD related to debt amortization . The Exchange Rate Difference is mainly explained by the dollar position of assets and liabilities and the depreciation of the currency . The Business Unit Net Loss was S/. 68.8 MM in 2Q2024, with a Net Margin of - 5.9%. EBITDA was - S/ . 29 . 4 MM in 2 Q 2024 , equivalent to a margin of - 2 . 5 % , explained by the operating results described above . Backlog . The Engineering and Construction Area reported a backlog of US $ 389 . 0 MM as of 2 Q 2024 , which will be executed as follows : US $ 279 . 5 MM in 2024 , US $ 107 . 0 MM in 2025 , and US $ 2 . 5 MM in 2026 onwards . As of June 2024 , the Mancoraland contract was excluded from the backlog because the client decided not to continue with the project . Backlog by Type of Contract Backlog (Million of US$) as of 2Q2024 Revenues (Million of S/.) 2Q2023 vs 2Q2024 EBITDA (Million of S/.) 2Q2023 vs 2Q2024 Net Income (Million of S/.) 2Q2023 vs 2Q2024 I n c o m e S tate m e n t ( T hou sa nd s o f S / ) 2 Q 202 3 2 Q 202 4 Var Reve nu es 1,138,68 4 1,162,91 1 G R O S S P R O F I T 19,41 7 1 Santa Monica project with Ecopetrol in Colombia and in Cumbra Peru for the project with LAP for Administrative expenses Other income and expenses, net (54,262 ) (4,956 ) O PE R A T I O N A L IN C O M E ( 39,8 0 1 ventura, and the project with Parque Arauco for the La Molina Shopping Center. This was partially Financial (expense) income, net (2 2 offset in Cumbra Peru by the Quellaveco project and in Vial y Vives - DSD by the Quebrada Blanca Participation in Associates Exchange rate difference PROFIT BEFORE INCOME TAX Income tax Non - controlling interest Gross Profit decreased 4.8% in 2Q2024, decreasing the area's gross margin from 1.7% in 2Q2023 NET INCOME to 1.6% in 2Q2024. The lower gross profit recorded in 2Q2024 was mainly due to the lower profit recorded in Morelco from the Santa Monica project with Ecopetrol. During 2023, the E&C business EBITDA F i n a n c recognizes the profit of the projects by the percentage - of - completion method; however, starting in 2024, the profit is recognized by the recourse method, in which the normalized margin is recog - Gross Margin EBIT D A nized upon completion of each of the projects. This was partially offset by the higher profit record - Operating Margin ed at Cumbra Peru for the San Gabriel project and Workshop Maintenance, and at Vial and Vives - Net Margin DSD for the Quebrada Blanca project with Teck. In June 2024, Teck recognized certain items under Fin review to Vial y Vives - DSD. 1,039 1,101 99 62 2Q2023 Cumbra Ingeniería 2Q2024 C u m b ra - 33 - 32 3 2 2 Q 202 3 2 Q 202 4 C u m b ra C u m b ra I n g e n i er í a 0 0 2Q2023 - 78 2Q2024 - 69 Cumbra Cumbra Ingeniería 809 666 704 614 389 - 25 0 50 0 75 0 1,00 0 1,25 0 2 Q 202 3 3 Q 202 3 4 Q 202 3 1 Q 202 4 2 Q 202 4 E P C 25% Page 13 U ni t Pr i ces 65% C o s t + FEE 4% L u m p S U M 6%

Consolidated Results Report - Third Quarter of 2014 Appendix: Balance Sheet per Company Figures in Thousands of S/ Consolidated Results Report - 2Q2024 Appendix: Profits & Losses Statement per Company Figures in Thousands of S/. Revenues G R O S S P R O F I T 117 , 1 9 6 44,487 39,036 (416) 131,857 5,021 8 , 6 0 8 2,522 205 , 5 4 0 65,198 2 , 4 4 2 1,477 353,937 1,101,361 61,550 76,537 1,968,501 70,319 12,171 6,319 23,687 244,036 (104,464) (7,395) (5,446) (49,016) (8,091) (469) (6,141) (1,029) (6,628) (1,265) (4,419) Administrative expenses (456) 955 8 (2,698) 529 (1) 333 (25) 3 (653) 352 Other income and expenses, net 62,757 (39,543) 881 17,247 139,116 1,007 59,390 1,468 (1,604) (2,334) 40,420 OPERATIONAL INCOME (100,684) (710) (379) (14,272) (13,256) 313 (795) (88) (30) 221 (6,371) Financial (expense) income, net 1,630 - - - 1,631 - - - - - - Participation in Associates (19,300) (1,560) 174 (4,457) (2,339) (2) (1,498) (14) (186) 4,467 48 Exchange rate difference 48,793 (58,272) 676 14,977 20,762 1,318 57,097 1,366 (1,820) 2,354 34,097 PROFIT BEFORE INCOME TAX (58,025) (4,773) (226) (11,283) (15,028) (391) (17,757) (290) (350) (789) (8,977) Income tax (29,626) (7,911) (48) 335 (3,872) - (9,835) - 33 - (8,290) Non - controlling interest (66,889) 2,293 402 (69,220) 29,893 927 29,505 1,076 (2,137) 1,565 16,830 NET INCOME EBITDA A DJ U S T E D E B I T D A 68,831 (2,273) 1,012 1,530 59,578 1,030 113,928 (31,748) 2,335 20,063 235,345 98,209 21,590 275,503 Income Statement (Thousands of S/) Engineering & Construction C U M BR A CUMBRA Ingenieria UNNA En er g ia TOTAL A E N Z A N O R V I A L S U R V I A L U NN A T r a n s po r te C A N C H A Q U E LI N E A 1 L A C H I R A Infrastructure Energy V I VA Real Estate Ingenieria TOTAL AENZA Real Estate VIVA Engineering & Construction CUMBRA CUMBRA Energy UNNA Energia Infrastructure SURVIAL UNNA CANCHAQUE LINEA 1 LA CHIRA Transporte NORVIAL Balance Sheet (Thousands of S/) 765,845 160,101 5,341 121,562 94,237 4,065 125,666 2,203 14,582 4,845 109,985 Cash and Cash Equivalents 2,129,742 235,518 114,296 1,125,101 183,999 1,984 182,029 5,723 90,393 30,257 8,967 Other Current Assets 2,895,587 395,619 119,637 1,246,663 278,236 6,049 307,695 7,926 104,975 35,102 118,952 Current Assets 3,030,108 184,833 6,785 701,213 682,788 24,004 773,461 103 16,274 22,359 219,406 Non Current Assets 5,925,695 580,452 1,947,876 126,422 961,024 30,053 1,081,156 8,029 121,249 57,461 338,358 Total Assets 202,187 14,814 1,127 20,141 39,110 5 29,470 64 14,782 64 49,455 Borrowings 1,764,084 114,673 95,973 1,284,534 236,653 1,563 101,452 2,807 76,466 36,860 71,397 Other Current Liabilities 1,966,271 129,487 97,100 1,304,675 275,763 1,568 130,922 2,871 91,248 36,924 120,852 Current Liabilities 1,701,960 71,713 38 95 76,545 121 597,267 - - - 107,338 Borrowings 839,456 0 98 135,980 118,732 27,437 96,722 493 6,113 - 5,956 Other Non Current Liabilities 2,541,416 71,713 136 136,075 195,277 27,558 693,989 493 6,113 - 113,294 Non Current Liabilities 4,507,687 201,200 1,440,750 97,236 471,040 29,126 824,911 3,364 97,361 36,924 234,146 Total Liabilities Equity attributable to controlling interest in 1,190,924 292,234 26,106 504,878 454,767 927 192,184 4,664 23,888 20,536 69,822 the Company 227,084 87,018 3,080 2,248 35,217 - 64,061 1 0 1 34,390 Non - controlling Interest 1,418,008 379,252 507,126 29,186 489,984 927 256,245 4,665 23,888 20,537 104,212 Total Equity 5,925,695 580,452 1,947,876 126,422 961,024 30,053 1,081,156 8,029 121,249 57,461 338,358 Total Liabilities and Equity Page 14

Consolidated Results Report - Third Quarter of 2014 Consolidated Results Report - 2Q2024 Appendix: Backlog Report to 2Q2024 Figures in Thousands of US$ Page 15 Appendix: Recurrent Businesses Report to 2Q2024 Figures in Thousands of US$ A nnual B a c k log B a c k log To t al N e w R e qu e s t s Executed Backlog I ni t ial B a c k log Company 2026+ 2025 2024 2 Q - 202 4 1 Q - 202 4 TOTAL 14,437 9,272 4,539 28,248 1,930 2,483 4,413 4,543 28,378 SURVIAL 0 463 1,373 1,837 - 913 1,781 868 2,256 3,224 CANCHAQUE 1,542 1,028 628 3,198 214 510 725 636 3,110 L A CHI R A 162,215 108,143 53,940 324,298 16,028 23,015 39,043 53,568 338,823 LINE 1 - LIMA METRO 65,065 53,259 35,003 153,326 - 2,320 18,535 16,215 25,347 162,458 U NN A T RA N S P OR T E 243,259 172,166 95,483 510,908 14,940 46,324 61,265 86,350 535,993 INFRASTRUCTURE 0 94,378 171,564 265,942 - 56,912 12,311 - 44,601 166,956 477,499 CUMBRA 0 0 22,287 22,287 7,329 4,000 11,329 31,994 42,952 VyV - DSD 0 7,798 75,247 83,045 - 6,327 3,960 - 2,367 86,285 171,696 MORELCO 2,515 4,852 10,364 17,731 7,607 16,349 23,956 17,844 11,619 CUMBRA INGENIERÍA 2,515 107,027 279,463 389,005 - 48,303 36,620 - 11,683 303,078 703,766 E N G I N EE R I NG & C O N S T R UC T I O N 0 5,125 27,788 32,913 1,710 1,684 3,394 11,934 41,453 VIVA 0 5,125 27,788 32,913 1,710 1,684 3,394 11,934 41,453 R E A L E S T A TE - 49,681 - 42,177 - 22,582 - 114,440 9,841 4,687 14,528 0 - 128,968 Eliminations 196,094 242,141 380,151 818,386 - 21,812 89,316 67,504 401,362 1,152,244 TOTAL

Consolidated Results Report - Third Quarter of 2014 Consolidated Results Report - 2Q2024 Appendix: Corporate Structure ( 1) ( 2) ( 3) In June 2018, AENZA transferred economic rights over 48.8% of the share capital of Red Vial 5 S.A. The company continues to possess voting rights over Red Vial 5 .S.A. 43.3% of the share capital in Viva which was owned by our subsidiary Cumbra was transferred to AENZA S.A.A. in 4Q2022. 100% of Cumbra Ingenieria shares of AENZA have been assigned to a trust formed in benefit of the Peruvian state to secure the company's contingent obligation to pay compensation in compliance with Law 30737. 95 . 00 % E n e r gy Page 16 75 . 00% 100 . 00 % 99 . 96% 67 . 00 % ¹

Consolidated Results Report - Third Quarter of 2014 Consolidated Results Report - 2Q2024 Notes to the Consolidated Results Report i) EBITDA As of the information reported in the prospectus regarding the shares issuance registered before the SEC, the international market practice for the EBITDA calculation has been adopted . The EBITDA calculation will start from the net income, figure to which the tax - es, exchange rate differences and interests expenses will be returned to, whilst the depreciation and amortization will be added . This report includes, besides the EBITDA, the adjusted EBITDA, which is calculated as follows : Real Estate EBITDA : the proportional part of the land component of the units delivered during the period, will be added ; Metro de Lima : the financial expenses of the bond considered in the cost of sales by accounting standards, as well as the capital amortization applied to the corresponding long - term account receivable that is considered in the revenues by accounting stand - ards, will be added . ii) Backlog As of the information reported in the prospectus regarding the shares issuance registered before the SEC, the reporting method of the company's Backlog will have modifications in the Infrastructure and Real Estate segments according to what is following de - scribed . Engineering and Construction will continue to report their backlog according to the local market, therefore the total signed contracts will be reported . Infrastructure : the Oil & Gas business and the Norvial toll road are not included as backlog Real Estate : only the sold units which are pending of delivery are reported as backlog Page 17 Contact: Investor Relations [email protected] www.aenza.com.pe