Triunfo Participações e Investimentos S.A. reported financial results for 2Q12 and 1H12 that showed growth across key metrics. Net revenue increased 38.7% in 2Q12 to R$225.7 million, driven by increases in toll road traffic, port container handling, and energy sales. Adjusted EBITDA rose 24.4% in 2Q12 to R$88.7 million with margins improving. For 1H12, net revenue grew 23.6% while adjusted EBITDA increased 23.1%. Triunfo also secured key contracts and financing that will support investments of R$290.4 million in 1H12 and expansion of its toll road, port, and

2. 2Q12 and 1H12
Earnings
Presentation

3. Forward-Looking Statements
This release contains forward-looking statements relating to the prospects of the business,
estimates for operating and financial results, and those related to growth prospects of TPI –
Triunfo Participações e Investimentos S.A. These are merely projections and, as such, are
based exclusively on the expectations of the Company’s management concerning the future of
the business.
Such forward-looking statements depend substantially on changes in market conditions, the
performance of the Brazilian economy, the sector and the international markets, and are,
therefore, subject to changes without previous notice.
The information is presented in proportion to the participation of Triunfo in each subsidiary. The
operational numbers correspond to 100% of the business.
The information includes the performance of the subsidiary Rio Verde.

4. I – Highlights

5. Highlights 2Q12
Net Revenue grew 38.7% compared to 2Q11, reaching R$225.7 million (R$ 191 million
excluding construction, 21.7% higher than 2Q11).
Traffic volume increased 5.2%, totaling 18.9 million equivalent vehicles.
Containers handled at Portonave reached 140,779 TEUs, a 2.6% growth. Storage and other
services revenue grew 37.7%
Assured Energy Sold was 148,075 MWh, 6.3% higher than 2Q11.
Cabotage reached 10,023 TEUs handled, R$15.9 million net revenue.
Adjusted EBITDA was R$88.7 million in 2Q12, 24.4% above the prior year. Margin improved
100 bps to 46.3%. EBITDA LTM totaled R$ 389 million.
The Dividend Calculation Base was R$ 8.9 million for the quarter, R$ 40.8 million
accumulated in 1H12.

6. Highlights 2Q12
Portonave, for the second consecutive year, was awarded the only Brazilian port terminal listed among
the world's best port operators, equally according to Containerisation International Awards 2012 – award
conducted by the prestigious British magazine and according to Lloyd’s List.
Concepa, was considered the best highway in the south of Brazil and Concer, was considered the best
highway in Rio de Janeiro, both by Guia Estradas 2012-2013, a supplement of Quatro Rodas magazine
On June 14, 2012, the Aeroportos Brasil Viracopos S.A. signed with ANAC the concession contract for
the expansion, maintenance and operation of the International Airport of Campinas (Viracopos), for the upcoming
30 (thirty) years. Triunfo holds indirectly 23% of the Concessionaire.
On June 5, 2012, (BNDES) approved R$ 368 million long-term financing line to Triunfo’s subsidiary Rio
Canoas Energia S.A. Amortized over 16 years, it will be used to settle the Company’s bridge loan and to finance
the final implementation of the Garibaldi Hydroelectric Plant.
On August 7, 2012, was approved the second public issue of simple, unconvertible debentures, in two
series, by Rio Canoas Energia S.A., in the amount of R$ 100 million.

7. I – Results
2Q12 and 1H12

8. 174 212
351
435
5
34
34
63
2Q11 2Q12 1H11 1H12
Gross Revenue without Construction Construction of Assets in Toll Roads
Gross Revenue from Operations
37.6% *
29.6% *
385
498
246
179
* Variation of total Gross Revenue.
Breakdown Gross Revenue
ex construction (%)
Gross Revenue
(R$ million)
57%
23%
13%
7%
Toll Roads Port Energy Cabotage

9. Toll Roads – 2Q12
Traffic – Equivalent Vehicles
(million) - corresponds to 100% of the business.
Revenue Toll Roads* (R$ million)
corresponds to the participation of Triunfo in the
business
5.2% 6.4%
10.0%
11.4%
38
40
1H11 1H12
18
19
2Q11 2Q12
219
244
1H11 1H12
105
115
2Q11 2Q12
* Excluding construction and other revenues

10. 33%
40%
3%
24% Handled Containers Revenue
Storage Revenue and Others
Revenues
Services Revenue - Iceport
Own cargo Revenues (trading
company)
261
280
1H11 1H12
137
141
2Q11 2Q12
42
46
79
98
2Q11 2Q12 1H11 1H12
14 15
28 30
14
19
29
39
2Q11 2Q12 1H11 1H12
Handled Containers Revenue Storage Revenue and Others Revenues
Port Management - 2Q12
2.6%
7.3%
11.4%
Container Handling - TEUs (‘000)
corresponds to 100% of the business.
Total Gross Revenue - Port Segment (R$ million)
corresponds to the participation of Triunfo in the
business.
1H12 Breakdown Revenue (%)
Revenue from Handling and from Other Port Operation
(R$ million)
corresponds to the participation of Triunfo in the business.
9.2%
37.7%
9.9%
33.7%
23.5%

11. 277
296
1H11 1H12
139
148
2Q11 2Q12
48
58
1H11 1H12
24
30
2Q11 2Q12
Energy Generation – 2Q12
6.3%
6.9%
24.9% 20.8%
Assured Energy Sold (‘000 Mwh) Gross Revenue (R$ million)

12. 6.2
10.0
1Q12 2Q12
Cabotage – 2Q12
62.7%
Container Handling - TEUs (‘000)
corresponds to 100% of the business.
13
19
1Q12 2Q12
46%
Container Handling Revenue (R$ million)
corresponds to the participation of Triunfo in the
business.
Cabotage is in ramp-up period

13. Viracopos Airport
On July 14, Aeroportos Brasil Viracopos S.A. (Concessionaire) signed the concession contract for
expansion, maintenance and operation of Viracopos International Airport for the next 30 years.
Triunfo has a participation of 23% in this business.
Investments of R $ 1.4 billion are planned for the first phase of the project: (i) R $ 450 million
equity (this amount, approximately $ 100 million related to participation of Triunfo in the business,
have been contributed to resources of the Promissory Notes issued in May), and (ii) R $ 1.0 billion
through BNDES.
For this first phase are expected: (i) new terminal to 14 million passengers, (ii) 28 fingers for
airplane, and (iii) parking;
The beginning of construction is planned for August 2012, after the installation license is released.
The Concessionaire operation responsibilities start in November 2012.

14. 161
199
1H12 1H11
71
89
2Q12 2Q11
23.1%
24.4%
50.5%
50.7%
45.3%
46.3%
Adjusted EBITDA – 2Q12
Adjusted EBITDA (R$ million)
(in R$ thousands) 2Q12 2Q11 D 1H12 1H11 D
Net Operating Revenue ex construction 191,448 157,304 21.7% 393,374 318,326 23.6%
Operational Cost - Cash (74,679) (52,043) 43.5% (147,613) (98,099) 50.5%
Operational Expenses - Cash (28,074) (33,569) -16.4% (47,294) (58,549) -19.2%
Non-recurring Expenses (Revenues) 25 (366) -106.8% 182 (354) -151.4%
Adjusted EBITDA 88,720 71,326 24.4% 198,649 161,324 23.1%
Adjusted EBITDA Margin 46.3% 45.3% 1.00 p.p. 50.5% 50.7% -0.18 p.p.

15. Adjusted EBITDA – 2Q12
Adjusted EBITDA (R$ million)
71.3
88.7
12.2
4.9
3.9
(2.7) (0.9)

16. Excluding the impact of the Exchange Rate, the financial result in 2Q12 was R$ 34.4 million,
compared to R$ 34.0 million in 2Q11.
Improved profile of Debt:
The annualized cost of debt fell from 16.2% to 11.1%.
In the beginning of July, the Company completed the first issue of debentures of Portonave
to prepay the Portonave’s debt linked to the US Dollar.
Net Financial Results
(in R$ thousands) 2Q12 2Q11 D 1H12 1H11 D
Financial Income (46,036) (30,662) 50.1% (80,180) (63,855) 25.6%
 Financial Revenue 8,971 2,150 317.3% 11,629 4,379 165.6%
 Financial Expenses (43,390) (36,184) 19.9% (83,537) (73,569) 13.5%
 Exchange Rate Variation (11,617) 3,372 n/c (8,272) 5,335 n/c

17. 17
9
2Q11 2Q12
42
41
1H11 1H12
Net Profit
(R$ million)
Dividend Basis
(R$ million)
Net Profit and Dividend Basis
-2.3%
-46.2%
-44.4%
8
5
1H11 1H12
0.3
-10
2Q11 2Q12

18. Dividends
DIVIDEND BASIS (in R$ thousands) 2Q12 2Q11 D 1H12 1H11 D
Net Income/Loss (10,391) (333) 3020.4% 4,590 8,252 -44.4%
Unrecognized Investments 34 (468) n/c 43 (569) n/c
Realization of Revaluation Reserve 11,023 11,453 -3.8% 20,918 21,882 -4.4%
Realization of Asset Valuation Adjustment 7,763 6,355 22.2% 15,527 12,629 22.9%
Creation of Legal Reserve (5%) 518 (384) -234.9% (232) (384) -39.6%
Dividend Basis 8,947 16,623 -46.2% 40,846 41,810 -2.3%
R$ 20.4 million interim dividends will be paid (R$ 0.14 per share) representing
50% of the R$ 40.8 million 1H12 Dividend Base – 3.7% annualized dividend
yield*.
* Compared to R$ 7.50 share price, in June, 30,2012.

19. ENERGY
ROAD
SEGMENT
PORT
COMPANY
SUBTOTAL PARENT COMPANY
CABOTAGE
SEGMENT
TOTAL
2012 200,438 59,810 11,521 271,769 334,184 43,767 649,720
2013 30,739 62,058 24,222 117,019 39,644 27,592 184,255
2014 28,461 55,148 23,044 106,653 4,549 27,592 138,794
2015 25,832 73,739 23,044 122,615 48,745 9,621 180,981
2016 22,974 89,756 0 112,730 48,745 729 162,204
After 2016 211,672 15,549 0 227,221 93,719 7,104 328,044
Gross Debt 520,116 356,060 81,831 958,007 569,586 116,405 1,643,998
ENERGY
ROAD
SEGMENT
PORT
COMPANY
SUBTOTAL PARENT COMPANY
CABOTAGE
SEGMENT
TOTAL
Net Debt 500,721 315,006 68,261 883,988 452,692 114,913 1,451,593
EBITDA (LTM) 70,895 313,890 77,322 462,107 n/c n/c 389,276
Net Debt / Adjusted
EBITDA (LTM)
7.06 1.00 0.88 1.91 n/c n/c 3.73
DEBT AMORTIZATION (in R$ thousands) and Leverage
Net Debt – 2Q12
* The short-term debt of $ 650 million, includes:
1 - Bridge Loans, Rio Canoas in the amount of R$189 million, which will be amortized when the long-term loan from BNDES, approved on
06/16/2012, will be released, until September, .
2 - Promissory Notes in the amount of R$ 299 million, which will be amortized in October, after completion of a long term debt by the
Company.

20. CAPEX – 2Q12
INVESTMENTS IN FIXED AND INTANGIBLE ASSETS 2Q12
(in R$ thousands) 2Q12 % 1H12 %
Concer 7,453 5.3% 14,681 5.1%
Concepa 15,569 11.1% 31,834 11.0%
Econorte 11,939 8.5% 17,461 6.0%
Portonave 8,715 6.2% 19,054 6.6%
Portonaus 382 0.3% 7,434 2.6%
Santa Rita 797 0.6% 1,846 0.6%
Cabotagem 645 0.5% 721 0.2%
Rio Canoas 85,670 61.3% 182,204 62.7%
Rio Verde 0 0.0% 31 0.0%
Parent Company and Other Investments 8,654 6.2% 15,154 5.2%
Total Capex 139,823 100.0% 290,420 100.0%

21. IR Team
Sandro Lima – CFO and IR Officer
João Patah – IR Manager
Luana Mota – Analyst
Melina Rodrigues – Analyst
Contact: ri@triunfo.com
+55 11 2169 3999
Rua Olimpíadas, 205 - Conjunto 142/143
Vila Olímpia - São Paulo, Brazil - 04551-000
www.triunfo.com/ri