Download - Presentation CCR DAY 9

PLANNING, TRANSPARENCE AND CREDIBILITY

São Paulo, November 14, 2013

09:00 a.m. Opening and welcome

Renato Vale

09:15 a.m. Transport infrastructure demands in Bahia

Governador Jaques Wagner

09:50 a.m. Q&A session with the Governor

10:45 a.m. Q&A session and coffee break

10:00 a.m. Regulatory benchmark: Brazil’s Infrastructure challenges

Prof. Paulo Resende

12:15 p.m. Overview of high-quality growth for the CCR Group

Leonardo Vianna / Arthur Piotto

11:15 a.m. Current business highlights

Italo Roppa / José Braz / Ricardo Bisordi

1:15 p.m. Conclusions and final remarks

Renato Vale

1:30 p.m. Debates, questions and answers and time for lunch

RENATO VALE

OPENING AND WELCOME

Main highlights Gross Revenue – R$ million

Main highlights EBITDA – R$ million

(E) – Market Consensus

,

Main highlights Net Income – R$ million


,

Main highlights Dividends – R$ million


GOVERNOR JAQUES WAGNER

TRANSPORT INFRASTRUCTURE DEMANDS IN BAHIA

JAQUES WAGNER

Q&A SESSION WITH THE GOVERNOR

PROF. PAULO RESENDE

REGULATORY BENCHMARK BRAZIL’S INFRASTRUCTURE CHALLENGES

Q&A SESSION WITH PROF. PAULO RESENDE

COFFEE BREAK

ITALO ROPPA

CONCESSIONS IN SP AND STP’S NEW CHALLENGES:

Highways in SP:

// DEMAND FOR NEW INVESTMENTS (in million)

AutoBAn: R$1,160

ViaOeste: R$1,850

SPVias: R$295

ViaQuatro: R$210

R$3,515

CCR AutoBAn

Highway improvements in Jundiaí (Anhanguera Highway): R$420

Duplication of SP – 324 (Access to Viracopos Airport): R$350

Accesses to EXPO - SP (Bandeirantes Highway): R$270

Accesses in Louveira (Anhanguera Highway): R$120

R$1,160

// // DEMAND FOR NEW INVESTMENTS (in million)

Video

VIDEO

CCR ViaOeste

Phase 1: R$870

Phase 2: R$500

Phase 3: R$480

R$ 1,850


RAPOSO TAVARES HIGHWAY – INITIAL STRETCH

CCR SPVias

Duplication of SP–255 (Avaré urban stretch) R$110

Remodeling of the access to Tatuí : R$35

Beltway of Itapeva (SP-258): R$68

Beltway of Itararé (SP-258): R$22

R$295


Additional lanes in SP-280: R$33

Additional lanes in SP-258 R$27

Renovias

// DEMAND FOR NEW INVESTMENTS

Expansion of the Ponto a Ponto Project

Stations: Vila Sônia, Morumbi,

Fradique Coutinho, Oscar

Freire, Higienópolis.

Increase in demand

per day: from 703,000 to 960,000

pass./day

Additional investments

(+15 trains + systems 5

stations):

R$685 million

ViaQuatro Investments - phase II

Start of operations:

Sept 2014

PHASE I PHASE II Vl. Sônia to Luz 5 new stations

Phase II = 12.8 km

Phase I = 8.9 km

Vila

Sônia

São Paulo

Morumbi

Butantã

Pinheiros

Faria Lima

Fradique

Coutinho Oscar

Freire

Paulista

Mackenzie

Higienópolis

República

Luz

ViaQuatro Demand for new investments

// EXPANSION OF LINE 4 UNTIL TABOÃO DA SERRA (3.1 KM) (3.1 KM)

R$154 million Rolling Stock :

R$56 million Signage and Telecommu-nication Systems :

TOTAL R$210 million

STP Raízen’s previous ownership structure

GSMP

9.32

4.68%

12.75%

35.00%

38.25%

STP New ownership structure

// STP NEW OWNERSHIP STRUCTURE

// COMPANY MARKET CAP (BASE DEC 2012) R$2,500,000,000.00

GSMP

34.24%

31.33%

11.41%

8.34%

4.68% 10.00%

STP Growth expectations

// REVENUE AND EBITDA GROWTH – R$ million

141 219

311

411

506 603

63 89 133

183 229

282

0

100

200

300

400

500

600

700

2008 2009 2010 2011 2012 2013 (E)

Revenue

EBITDA

//OPERATION:

States: SP / RJ / PR / RS / MG / BA / MT / MS / SC;

Toll plazas: 95%; Parking lots: 175; ABASTECE Project; New Projects.

STP Growth expectations

Video

VIDEO

JOSÉ BRAZ

CCR METRÔ BAHIA, CCR BARCAS, RIO’s LRT AND HIGHWAYS

Challenges and expectations

CCR METRÔ BAHIA

Barra Pituba

Campinas

Cajazeiras / Águas Claras

Length of 33.4 Km. 19 stations and 9 passenger transfer terminals.

Concession term

30 years

Tariff price R$2.10 per passenger (Base: April 2013)

Highlights

Highlights

// The concession is a PPP composed of the CCR Group and the

State and Federal Governments.

Highlights

In addition to representing another

operation in the urban mobility segment,

this achievement marks the start of the

activities of the CCR Group in Brazil’s

Northeastern region.

The covers of the printed editions of the three largest vehicles of

Bahia positively highlight the new Metro project.

//Press coverage

Highlights

* Supervised Operation

MAIN EVENTS

Signature of the Agreement 10/15/2013

Beginning of the works 10/28/2013

SM SL STRETCH BEGINNING OF OPERATION

(after signature of the agreement) STRETCH LENGHT

Lapa – Northern access (*) Jun/2014 6.6

Northern access – Retiro 11 months 1.6

Retiro – Pitajá 15 months 4.0

Pitajá – Águas Claras Expansion to be negotiated 5.5

Lapa – Bus Station 24 months 7.2

Bus Station – Imbuí 30 months 3.1

Imbuí – Pituaçu 30 months 2.7

Pituaçu – Mussurunga 36 months 6.7

Mussurunga – Airport 42 months 3.3

Airport – Lauro de Freitas Expansion to be negotiated -

Highlights

Contract addenda and new investments

FEDERAL CONCESSIONS:

Potential of Current Portfolio Various investment gaps were identified...

Connecting the bridge to Linha Vermelha; Niterói Tunnel (Mergulhão).

//CCR Ponte:

R$305 million

Source: financial statements of the business unit.

Serra das Araras; Rio, São Paulo e São José dos Campos Highways; Other safety works.

//CCR NovaDutra:

R$3 billion


LRT in Rio de Janeiro

URBAN MOBILITY:

Investment : R$71.5 million/year (Base: Jun/12).

Urban Mobility Implementation of VLT Carioca

Extension of basic line: 28km;

No. of stations and stops: 46;

Fleet: 32.

// Concession terms: 25 years

Sources R$ million %

PAC Program 532 44.75%

Concessionaire 657 55.25% R$1.2 Investment

Billion

Source: Consortium proposal

CCR Barcas

URBAN MOBILITY


State government: 9 vessels: 300 million; 2 new stations: 300 million.

Concessionaire: 2 vessels.

// Rebalanced Tariff:

R$4.50

// Committed Investments:

4 new vessels: Renovation of Araribóia station; Renovation of Praça XV; Bridge/ Floating Units/Piers.

// Committed investments:

//New Opportunities:

R$600 million for the remaining concession term, 200 million of which up to 2015 in: Completion of Praça XV; Recovery of shipyard; Expansion of other stations, among others.


Improvements in Charitas Station

Improvements in Praça XV Station

New Cocotá Station

New Vessel Águia

Revitalization Itaipú Vessel

Improvements in Araribóia station

Improvements in Araribóia station

VIDEO

RICARDO BISORDI

AIRPORTS

CCR’s operations in the airport sector

Conclusion of sale of assets and transfer of

ownership interests during the year.

Structuring of operation platform abroad;

Feb/2013: Beginning of operations of Quito’s new

international airport;

Beginning of CCR governance implementation process

in airports where it holds shared interest; agreement

on CCR’s long-term objectives with stakeholders;

Acquisition of more 39% interest in CUR.

2012

2013

Consolidation of platform and

identification of synergies and

partnerships.

2014 onwards

Opportunities

Great expectations for

growth of traffic and use

of air transportation.

Focus:

Investment program (contracts);

Commercial development;

Development of new routes.

September

YTD

Actual

2012

Actual

2013

2013/

2012

Airport 7,801,299 7,968,515 2.1%

Aeris 2,487,902 2,579,096 3.7%

Quito 4,043,381 4,105,429 1.5%

Curaçao 1,270,016 1,283,990 1.1%

Passenger traffic growth

Performance in 2013

quarters

9M

+2.1%

3Q

+1.2%

2Q

+1.1%

1Q

+4,2%

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

8,000,000

9,000,000

PAX 2012 PAX 2013

CURAÇAO

Terminal Expansion: Current Infrastructure

Terminal Expansion: Expansion Proposal

Curaçao

VIDEO

COSTA RICA

Juan Santamaría Airport

San Jose

2ND BEST AIRPORT IN CENTRAL AMERICA AND

CARIBBEAN (SKYTRAX)

EXCELLENCE LIST (ACI)

Juan Santamaría Airport (SJO)


2ND BEST AIRPORT IN CENTRAL AMERICA AND

CARIBBEAN (SKYTRAX)

EXCELLENCE LIST (ACI)


TERMINAL

EXPANSION

COMMERCIAL

CENTER

Passenger Terminal Expansion

Commercial Area Expansion

Mariscal Sucre International Airport

QUITO

FIRST TRANSATLANTIC FLIGHT (QUITO -> MADRID)

OPERATION OF LARGE AIRCRAFTS (A340-600, B747-

800F)

New Quito Airport

AIRPORT NIGHT VIEW

New Quito Airport

PASSENGER TERMINAL VIEW

New Quito Airport

QUITO AIRPORT

CENTER

TERMINAL

EXPANSION

2 ADDITIONAL JET BRIDGES

TERMINAL EXPANSION

New Quito Airport

QUITO AIRPORT CENTER – OPENED IN NOV/2013

New Quito Airport

New highway, urban mobility and airport projects:

OVERVIEW OF HIGH-QUALITY GROWTH FOR THE CCR GROUP :

LEONARDO VIANNA

R$1.2 Investment

Billion

Urban Mobility Implementation of Rio LRT

Length of basic line: 28km;

No. of Stations and Stops : 46;

Fleet: 32.

// CONCESSION TERMS: 30 YEARS FROM START ORDER.

Sources R$ million %

PAC Program 532 46%

Municipal Gvt. 38 3%

Concessionaire 587 51%

Source: public hearing

Metro in Salvador and Lauro de Freitas

Lauro de

Freitas

Pirajá

Lapa

Implementation and Operation of the Urban Intercity Public

Transportation System (Salvador and Lauro de Freitas Metro Systems); Concession

objective

Sponsored Public-Private Partnership (PPP)

(Investment by Government); Model

30 years: 3 construction projects + 27 operations

Estimated startup of partial operations (18 months);

Concession

term

Presentation of Economic Proposals in Writing, followed by

open-outcry bidding on BM&FBOVESPA; Bidding

process

Lowest amount of investment by Government; Selection

criteria

Estimated at R$3.5 billion. Investments

Federal Budget PAC Large Cities: R$1.0 billion;

PAC Financing – Large City Mobility: R$600 million;

Current balance of Agreement for Line 1: R$250 million;

// FUNDING SOURCES (R$3.5 BILLION)

Investments by Private Partner: To be defined in the bidding process;

Investment by Government: To be defined in the bidding process.

Hato International, CUR

Acquisition: October 2012.

// OVERVIEW:

Aport S.A – 51% (CCR 40.8% Zurich 10.2%); Jansen de Jong – 49%. 28 airlines; 198 employees; 30 destinations; 26,000 arrivals and departures.

//// OWNERSHIP STRUCTURE:

2011 Revenue:

USD32 million;

2016 Revenue:

USD53 million;

1.6 million

passengers.

Source: Company reports, 2011

Curaçao Airport, Netherland Antilles

Urban Mobility

No. of Stations:15;

Expected initial

demand:

633,000 pax/day;

SP Metro Line 6

Length: 15.3km; Project Phase:

Public Consultation;

Total Investment :

R$7.7 billion.

Pátio Morro Grande

Bela Vista

Why did not we participate in Line 6 bidding process?

CAPEX = R$8.00 bi ->

10% = R$800mn greater

than the whole net

present value generated

during 30 years of the

project;

Underground works

-> higher risk;

Without executive

project.

// DISPROPORTIONAL RISK IN L-6 CIVIL WORK :

Why did not we participate in Line 6 bidding process?

Partial guarantee of the

Government investment :

Coverage of only 75%;

Greenfield Project:

Six years without

revenue/EBITDA

generation;

High financial effort:

Limitation for

participation in other

projects.

Why did we participate in Salvador metro system bidding process?

Surface works in median

strip (line 2);

Executive project for

line 1;

Basic project

for line 2.

// CONTROLLED CIVIL WORK RISK :

Why did we participate in Salvador metro system bidding process?

Total guarantee of

Government investment :

Participation of FPE;

Brownfield Project:

Revenue generation

in the first year;

Proper financial

effort: no limitation

for participation in

other projects.

CURRENT OPPORTUNITIES

Bidding processes still in 2013:

GALEÃO AND CONFINS AIRPORTS:

Proposal : Nov 18, 2013;

Auction: Nov 22, 2013.

Galeão - GIG

Beginning of the concession: March 2014; Beginning of the operation: August 2014; Investment: BRL 5.3 billion.

// Concession term: 25 years

Antonio Carlos Jobim Airport, Rio de Janeiro

2012 Revenue:

R$550 million;

Arrivals and

Departures:

148,000;

17.4 million

passengers.

Fonte: Infraero 2012

23% of Brazil’s international traffic; 7% of all domestic traffic in Brazil; 1103 employees.

// Figures:

Confins - CNF

Beginning of the concession: March 2014; Beginning of the operation : August 2014; Investment: BRL 3.7 billion.

// Concession term: 30 years

Tancredo Neves, Confins and Lagoa Santa Airport - MG

2012 Revenue:

R$196 million;

Arrivals and

Departures:

120,000;

10.4 million

passengers.

Source: Infraero 2012

6% of all domestic traffic in Brazil; 365 employees.

//Figures:

Bidding processes still in 2013

FEDERAL HIGHWAYS:

BR-163/MT

Proposal:

Nov 25, 2013;

BR -060/262

MG/GO

Proposal:

Dec 2, 2013;

BR -163 MS

Proposal:

Dec 2013;

BR-040 MG

Proposal:

Dec 2013/Jan

2014.

Bidding processes still in 2013 Federal highways – 3rd Stage

Concession stretch Sinop - MT/MS border

Length 850.0 km

Duplication until the 5th year 453.6 km

Number of toll plazas 09

Initial Ceiling Tariff (May 2012) R$0.03170 / km

Bid Notice Ceiling Tariff (May 2012) R$0.05500 / km 73.50%

CAPEX ANTT R$4.597 billion

LOT 07 - BR-163/MT ⇨ PROPOSAL: NOV 25, 2013

Brasília-Goiânia-Itumbiara-Uberaba-Betim

1,176.5 km

647.8 km

11

R$0.03360 / km

R$0.05940 / km 76.79%

R$7.146 billion

LOT 05 - BR-060/153/262 DF/GO/MG ⇨ PROPOSAL: DEC 2, 2013


Concession stretch

Length

Duplication until the 5th year

Number of toll plazas

Initial Ceiling Tariff (May 2012)

Bid Notice Ceiling Tariff (May 2012)

CAPEX ANTT

MT/MS border - MT/PR border

847.2 km

806.4 km

09

R$0.07100 / km

R$0.09240 / km + 30.14%

R$5.766 billion

LOT 06 - BR-163/MS ⇨ PROPOSAL: DEC 2013


Concession stretch

Length

Duplication until the 5th year

Number of toll plazas

Initial Ceiling Tariff (May 2012)

Bid Notice Ceiling Tariff (May 2012)

CAPEX ANTT

Concession stretch Juiz de Fora - Brasília

Length 936.8 km

Duplication until the 5th year 557.2 km

Number of toll plazas 11

Initial Ceiling Tariff (Jan 2012) R$0.04400 / km

Bid Notice Ceiling Tariff (Nov 2012) R$0.07864 / km 78.75%

CAPEX ANTT R$8.031 billion

LOT 09 – BR 040 DF/GO/MG PROPOSAL: DEC 2013 OR JAN 2014


Metro Systems

URBAN MOBILITY

Rio de Janeiro Niterói

Urban Mobility Niterói Metro Line 3

No. of Stations:14;

Estimated Initial

Demand:

R$350,000 day;

Length: 23km;

Project Phase:

Ongoing Declaration

of Private Interest

(MIP);

Total

Investment:

R$3 billion.

Guaxindiba

Araribóia

Urban Mobility Niterói Metro Line 3

Urban Mobility Brasília Metro

Brasília - DF

Renovation of trains: 80 old cars: modernized; 48 new cars: air conditioning. New trains: 160 new cars with air conditioning. Infrastructure: Electricity; Telecommunication systems; Integration terminals; Station surroundings; Various operational improvements.

//SCHEDULED INVESTMENTS – CONCESSIONAIRE

Length: Asa Norte: 1 km; Ceilândia: 2 km; Samambaia: 3 km.

// SCHEDULED INVESTMENTS - GDF

Asa Sul and Guará stations: 104 Sul; 106 Sul; 110 Sul;

Estrada Parque; Onoyama.

Central Ceilândia

Samambaia

Total Investments: R$2.3 billion

Urban Mobility Brasília Metro

Urban Mobility Curitiba Metro

Curitiba

R. F.F

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ESTAÇÃO BENTO VIANA

CORREIA

ESTAÇÃO ÁGUA VERDE

ESTAÇÃO SANTA CATARINA

ESTAÇÃO MORRETES

TERMINAL PORTÃO

ESTAÇÃO HOSPITAL

TERMINAL

ESTAÇÃO NICOLA PELLANDA

PÁTIO CIC SUL

TERMINAL

EIXO OESTEEIXO LESTE

TERMINAL

EIXO BOQUEIRÃO

CENTRO

AV. M

AR

EC

HA

L F

LO

RIA

NO

PE

IXO

TO

AV. J

US

CE

LIN

O K

. DE

OLIV

EIR

A

CONTORNO NORTE

BR

- 1

16

BR - 116 - CURITIBA/QUATRO BARRAS

BR -

476

LIN

HA

VE

RD

E

LIN

HA V

ER

DE

DO TRABALHADOR

ESTAÇÃO CAPÃO RASO

TERMINAL

CAMPO COMPRIDO

PINHEIRINHO

CENTENÁRIO

ATUBAESTAÇÃO

ESTAÇÃO SANTA REGINA

No. of Stations: 21;

Estimated Initial

Demand:

520,000 pax/day;

Length: 22.4 Km;

Project Phase :

Declaration of Interest

delivered.

preparing for notice;

Total Investment:

R$4.5 billion.

Urban Mobility Curitiba Metro

Urban Mobility Porto Alegre Metro

Porto Alegre

No. of Stations:13;

Estimated Initial

Demand:

320,000 pax/day;

Length: 14.8km;

Project Phase :

Request of Declaration of

Interest by the

Government;

Total Investment:

R$2.5 billion.

Intermodal

Terminal

Rua da Praia

Intermodal

Terminal

Fiergs

Urban Mobility Porto Alegre Metro

Urban Mobility BH Metro

São Paulo Belo Horizonte

Public Investment

R$1.7 billion;

Private Investment:

R$1.2 billion;

Total Investment:

R$2.9 billion.

Adm. Center

of the

Government

Barreiro

Novo

Eldorado

Savassi

Urban Mobility BH Metro

URBAN MOBILITY São Paulo metro system projects

Projects in São Paulo:

LINE 17 MONORAIL – Gold (Morumbi/Jabaquara); LINE 15 MONORAIL – Silver (Cid.Tirad./ Oratório); LINE 5 METRO – Purple -(Largo Treze/Chac. Klabin).

// OPERATION

LINE 20 METRO – Pink R$14.0 bi

LINE 18 MONORAIL - Bronze R$3.2 bi

//IMPLEMENTATION:

Urban Mobility Line 20 – Pink and Line 18 - Bronze

//Line 20 – Pink of the São Paulo METRO will connect Lapa to Moema, with 12 kilometers and 14 stations.

//Line 18 – Bronze of the São Paulo METRO will connect L-2 to S.B.Campo, with 14.9 kilometers and 13 stations. Invitation to Bid Schedule: Nov 2013.

URBAN MOBILITY Intercity Train Project - TIC.

Urban Mobility Intercity Train

// Studied Network – 477 km

Demand/day 60,000 pass/day. Investments R$5.4 Billion. GESP Interest Investment: R$1.8 bi; Annual consideration: R$262 million (32 years).

//PPP Proposal to Begin the Network - 135 km

Urban Mobility Intercity Train

URBAN MOBILITY Salvador LRT Project

Calçada-Paripe = 12 km; Calçada-Elevador

Lacerda = 3,8 km.

Mobilidade Urbana Salvador LRT

URBAN MOBILITY Northern Beltway of Belo Horizonte

Urban Mobility Northern Beltway of BH

São Paulo Belo Horizonte

Purpose: Structuring of the Highway Metropolitan Beltway Project of the BHMR – northern stretch, with 67 km, connecting the municipalities of Sabará, Santa Luzia, Vespasiano, São José da Lapa, Pedro Leopoldo, Ribeirão das Neves, Contagem and Betim;

The proposed Beltway will connect the South and North portions of BR 381 (Fernão Dias).

// Declaration of Interest was presented: awaiting public consultation and publication of the Invitation to Bid

Date scheduled for the Bid: 1st half of 2014

Urban Mobility Northern Beltway of BH

URBAN MOBILITY Rio de Janeiro Beltway

Complementation of the Rio de Janeiro Beltway

Implementation of stretch 6; Operation of stretches 4, 5 and 6; Extension: 13 km; Investment: R$1.2 billion; Submission of studies: Feb/2014; Model: sponsored PPP.

// CCR won the Declaration of Interest to carry out studies to complement the RJ Beltway :

// GENERAL MAP OF THE RIO DE JANEIRO BELTWAY

Stretch 06

Stretch 05

Stretch 04

URBAN MOBILITY

Connection of Florianópolis with the continent in Santa Catarina

Urban Mobility Declaration of Interest – Great Florianópolis

Santa Catarina Florianópolis

//Declaration of Interest submitted: awaiting the State Government’s decision

Maritime

transportation of

passengers and

vehicles by ferry-

boats;

Demand:

42,000 passag./day

20,000 cars/day;

Investment of

R$940 million.

Urban Mobility Declaration of Interest – Great Florianópolis

TAMOIOS HIGHWAY

Tamoios Highway

Duplication length: 22 km; Operation length: 106 km; Investments: R$3.7 billion; Consideration: R$5,8 billion; Public investment: R$1.6 billion; Concession term: 30 years; Tariff revenue: R$3.5 billion; Public consultation: by December 6, 2013; Invitation to bid: end of Dec 2013 (forecast).

//Sponsored PPP for the implementation of the duplication of the hill stretch between São José dos Campos and the Port of São Sebastião :

AIRPORTS “Invest, diversify and grow: CCR 2020”

Santiago - SCL

Invitation to Bid: May 2014; Beginning of Operations: September 2014; Investment: USD716 million.

// Concession Term: 15 years (*)

Comodoro Arturo Merino Benítez International Airport

Arrivals and

departures

136,000;

15.2 million

passengers.

Source: Ministry of Public Works (MOP) and DGAC

(*) probable

Federal Program

Highway Concession PAC

LOT 1 LOT 2 LOT 3 LOT 8

BR-101/BA BR 262 ES/MG BR 153 TO/GO BR 116 MG

Length 772.30 375.60 814.00 816.70

Duplication until the

5th year 551.30 188.80 769.50 786.20

Number of Toll Plazas 9 5 11 8

Initial Ceiling Tariff

(May/12) R$0.07450 R$0.07820 R$0.05840 R$0.04707

Bid Notice Ceiling Tariff

(May/12) R$0.11720 R$0.11260 R$0.09850 R$0.10227

Increase in Bid Notice

Ceiling Tariff 57.32% 43.99% 68.66% 117.27%

ANTT Capex R$5.051 bi 2.107 bi 6.842 bi 7.170 bi

Highway Concession PAC Lots to be launched in 2014

Federal Program

Railway Concession PAC

Porto de Itaguaí

1 3 2

Porto de Santos

Porto de Paranaguá

Porto de Rio Grande

Porto do Rio de Janeiro

11

5

6

Porto de Vitória

Porto de Ilhéus

Porto de Salvador

Porto

de Suape

Porto de Pecém

Porto de Itaqui

Porto de Vila do Conde

Porto de Santarém

Porto de Marabá

Açailandia

Uruaçu

Porto de Porto Velho

Lucas R. Verde

Estrela D’Oeste

Maracajú

Belo

Horizonte

Corinto

Panaroma

Mafra

10

9

4

12

7

8

Railroads

// Main stretches to be procured

Federal plan for logistics investments

SP Rail Beltway Northern Segment; 1

SP Rail Beltway Southern Segment; 2

Access to Port of Santos; 3

Lucas do rio Verde Uruaçu; 4

Uruaçu – Corinto – Campos; 5

Rio de Janeiro – Campos – Vitória; 6

Belo Horizonte – Salvador; 7

Salvador – Recife; 8

Estrela do Oeste – Panorama – Maracaju; 9

Maracaju – Mafra; 10

São Paulo – Mafra – Rio Grande; 11

Açailândia – Vila do Conde. 12

10,000 km Total of

// Launch of bid notice+ drafting of proposals: 1st

half of 2014

// Total investments: R$91 bn

The Company’s performance, strategy and future:

OVERVIEW OF HIGH-QUALITY GROWTH FOR THE CCR GROUP:

ARTHUR PIOTTO

CREDIBILITY, OUR GREATEST INTANGIBLE ASSET

Credibility, an asset valued by CCR

Clear Strategy; Selectivity; Capital Discipline; Efficient Use of Balance Sheet; Operational Optimization.

21% of Ebitda CAGR and 46% of Dividend CAGR in 10 years.

// OUR SPEECH // WHAT WE DELIVER

Despite recurrent delays in bidding processes.

* EBITDA CAGR of Feb 2012 and Dividend CAGR of Mar 2013

// IN 2009, THIS WAS OUR INVESTMENT MESSAGE …

… which afterall lasts to date.


AS DISCLOSED IN 2009, WE

DELIVERED … … our investment

message, yet in a period

of low activity in the

sector.


R$1.9 bi

EBITDA 2009

EBITDA 2013(E) Market Consensus in

2010

R$3.8 bi

R$2.3 bi

EBITDA 2010(E) Market Consensus

+ SPVias + ViaQuatro

We are very

close to

reaching

approximate

growth of 60%

in EBITDA in

three years.

DESPITE THIS

SCENARIO, THE

MARKET EXPECTS

THAT CCR DELIVER

what was

planned in 2009

within one year

in advance.

1.9 2.3

2.9

3.3

3.8

~4.0

EBITDA 2009

EBITDA 2010

EBITDA 2011

EBITDA 2012

EBITDA 2013(E)

Market

Consensus in 2010

EBITDA 2013(E)

CURRENT Market

Consensus

R$ Billion


AND IT MAY

HAPPEN AGAIN,

BASED ON A SOLID

PORTFOLIO

we trust in our

potential for more

deliveries.


1.9 2.3

2.9

3.3

3.8

~4.0

EBITDA 2009

EBITDA 2010

EBITDA 2011

EBITDA 2012

EBITDA 2013(E)

Market

Consensus in 2010

EBITDA 2013(E)

CURRENT Market

Consensus

R$ Billion

5.5 to 6.5

EBITDA 2013(E)

CCR Day 2012

Possible

increase of

~50% in

EBITDA

OUTLOOK AND PROJECT TRACK RECORD

Assets conceded in Brazil– 2002 to 2011

No project 2002 R$0

No project 2003 R$0

MG050 2004 R$1,520

No project 2005 R$0

São Paulo Metro Line 4 2006 R$1,506

7 Federal Highways 2007 R$15,403

6 São Paulo State Highways 2008 R$10,211

BR116/BR324 in Bahia 2009 R$2,602

BA093 and southern and eastern

stretches of São Paulo Beltway

2010 R$6,786

MT130, PE060 and 1 Airport 2011 R$989

Total

Investment

R$39,017

Amounts restated by the Broad Consumer Price Index (IPCA) up to September 2013 (in million).

TOTAL: 9 PROJECTS TOTAL ESTIMATED INVESTMENT : ~R$38 BI

The search for

solutions for

infrastructure

bottlenecks has

begun.

BR101 (ES/BA) R$1.7

Guarulhos Airport R$5.2

Viracopos Airport R$9.9

Brasília Airport R$2.7

ViaRio R$1.8

Rio LRT R$1.2

Salvador Metro System R$3.9

BR 050 R$3.0

São Paulo Metro Line 6 R$9.0

// INVESTMENTS (IN BILLION)

Assets conceded in 2012 and 2013

Recent auctions

BR101 (ES/BA) R$1.7

Guarulhos Airport R$5.2

Viracopos Airport R$9.9

Brasília Airport R$2.7

ViaRio R$1.8

Rio LTR R$1.2

Salvador Metro R$3.9

BR 050 R$3.0

São Paulo Metro Line 6 R$9.0

OF 9 PROJECTS, WE TOOK PART IN 7 AND WON 3.

BOATS AND 3 AIRPORTS +

Projects in which

CCR took part

Projects won by CCR

Projects in which CCR

did not take part

// INVESTMENTS (IN BILLION)

the portfolio’s

expansion is

based on

selectivity …

... and capital

discipline, CCR’s

characteristics.

In Million Investments EBITDA* Remaining

Term

CCR Barcas R$180 R$45 10

3 Airports R$480 R$200 24

ViaRio R$233 R$33 34

Rio LRT R$130 R$18 25

Salvador Metro R$1,659 R$255 30


Investments of

In five years, market analysts estimate the following increase:

R$2,682

* 14% of

EBITDA/year

In million

* According to analysts’ expecftations

In the last two

years, CCR

added seven

new businesses… ... backed by the efficient use of balance sheet.

* NPV of up

to R$3.8 bi

.7

Galeão Airport R$5.3

Confins Airport R$3.7

BR 163 R$4.6

BR 060/153/262 R$7.1

BR 163/262/267 R$5.8

Goiânia LRT R$2.1

Tamoios Highway R$3.7

Niterói Line 3 R$3.0

São Paulo Line 18 R$3.2

TOTAL: 23 PROJECTS

4 Metro Projects R$12.2

IN VIEW OF THE

GROWING DEMAND

FOR

INFRASTRUCTURE

and speed up of

auctions, make

your allocations.

Short and long-term opportunities

São Paulo Line 20 R$14.0

TIC R$5.4

Others R$24.8

//(IN BILLION)

TOTAL ESTIMATED INVESTMENT: ~R$103 BI

IS CCR’S CURRENT FINANCIAL STRATEGY

STILL ADEQUATE TO A SCENARIO OF GREATER

BUSINESS OUTLOOK?

YES, IT IS. WHY?

Investment capacity Financial strategy

Debt of 3.0x Net

Debt/EBITDA.

The Company’s growth

will be financed by

leveraging.

Payout commitment of

at least 50% of net

income as dividend.

// PERFORMED BUSINESSES

Financing sources

Bank Credit

Bank Credit Bill (CCB);

Credit Facility;

Loan Agreement.

Stock Market

Debentures and Promissory Notes;

Subsidized Debentures;

External funding;

Private placements.

// NEW BUSINESSES

BNDES;

FI-FGTS;

Pró Transporte;

FINISA;

VITER.

Based on our balance sheet, we believe in a sufficient credit offer for new projects.

220%

Net Income

(BRL MM)

Risk (BRL MM)

TJLP BRL PRE

Risk/ L. L.

CDI

Risk(MM BRL)

50 100 150 200 250 300 350 400

1940

1950

1960

1970

1980

1990

2000

Net

Incom

e (

MM

BRL)

// Based on operational variables, we may determine debt breakdown that provides the best risk/return ratio.

Debt mix optimization


Debt of 3.0x Net

Debt/EBITDA.


will be financed by

leveraging.


at least 50% of net

income as dividend.

Leveraging

Investment capacity

2.6

2.0

0.8 1.1 0.9 0.8

1.5 1.5

2.5 2.1 2.2 2.0

1.2

2002

1.1

2003

0.6

2004

1.2

2005

1.1

2006

1.2

2007

2.6

2008

2.9

2009

5.6

2010

6.2

2011

7.2

2012

7.5

2013

8,1

2013E

11.2 R$ Billion

Market Consensus Net Debt Net Debt/EBITDA

3.0

Additional Capacity

of R$3.7 billion

2013

EBITDA in the last 12 anos, base Sept 2013

Net Debt: Market Consensus

Debt of 3.0x Net

Debt/EBITDA.


will be financed by

leveraging.


at least 50% of net

income as dividend.


Dividends

-

183 263

500 547 580

714 709

899

1,177

672

1,439

30 152 302 355

532 605 609

852 803

1,054

1,301

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013*

Net Income

Dividends

Net Income(E)*

R$ million

Div Yield

Payout

2.2%

4.2% 4.8% 3.8% 3.9%

5.0% 4.6% 4.7% 3.9% 3.7% 3.9%

92%

16% 58% 61% 65% 85% 85%

127% 90% 90% 90%

* Market Consensus

Conclusion

The current potential

of new growth

opportunities;

The Group’s additional

indebtedness capacity;

The access to the capital

market provided by the

three pillars of the

financial strategy;

The development of

PPPs’ market;

The strong support to

financing of the

infrastructure sector;

The better economic

feasibility of assets to

be conceded;

The recent success in

the acquisition of new

businesses.

//... CCR has energy to expand its businesses, adding value to shareholders without excluding the capital discipline and quality of assets.

// CONSIDERING...

RENATO VALE

CONCLUSIONS AND FINAL REMARKS:

Proven Track Record

CCR has a proven track record in acquisitions, diversification or new bidding processes.

IPO

(2002) STP

(2003) Follow-on

(April 2004) ViaOeste

(October 2004) RodoNorte

(2005)

Expansions

AutoBAn +

ViaOeste

(2006) ViaQuatro

(2006)

Renovias

(2008)

RodoAnel

(2008)

Controlar

(2009) Follow-on

(2009)

EUA

(2007)

NEXT PROJECTS … Several growth opportunities.

Concessions Obtained

Concession Extension

Acquisitions Benchmarks

Company Performance

CCR has a proven track record in acquisitions,

diversification or new bidding processes.

IPO

2002 2003 2004

Follow-on (April) CCR ViaOeste (October)

2005 2006 2007

EUA

2008 2009

Follow-on

2010 2011 2012

Transolímpica

2013

Several growth opportunities

RIO LRT

Concessions Obtained

Concession Extension

Acquisitions Benchmarks

Conclusion

The current potential

of new growth

opportunities;

The Group’s additional

indebtedness capacity;

The access to the capital

market provided by the

three pillars of the

financial strategy;

The development of

PPPs’ market;

The strong support to

financing of the

infrastructure sector;

The better economic

feasibility of assets to

be conceded;

The recent success in

the acquisition of new

businesses.

//... CCR has energy to expand its businesses, adding value to shareholders without excluding the capital discipline and quality of assets.

// CONSIDERING...

RELATIONSHIP (DIALOGUE) How to prepare for the CCR of the future:

CHALLENGES

GOING CONCERN Sustainability

CHALLENGES

People Management

CHALLENGES

In 2009...

...Level change

EBITDA

R$2 bi

PRICE

R$37/share

EV/EBITDA

10.5x

EBITDA

R$4.0 bi

PRICE

R$??/share

EBITDA

R$4.5 bi PRICE

R$???/share

(1) Ebitda considered for calculation was the market consensus of R$2.000 million for 2009

Thinking ahead... C

urr

en

t 2

01

3E

EV/EBITDA

10.5x

Level Change

PRICE

R$9.25/share

In 2012...

...Mudança de Patamar

Pensando Alto...

... and how 2016 will be?

...Mudança de Patamar

(1) Ebitda considered for calculation was the market consensus of R$2.000 million for 2009

(2) (E) Market consensus

PRICE

PRICE

EV/EBITDA

EBITDA

6.5 bi 20

16

(E

) EBITDA

R$5.5

EBITDA

R$4.0 bi

20

13

(E

)

QUESTIONS AND ANSWERS

DEBATES,

TIME FOR

LUNCH

PLANNING, TRANSPARENCY AND CREDIBILITY

Download - Presentation CCR DAY 9

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