1. The document outlines the agenda for the 20th anniversary event of CCR, a Brazilian infrastructure company, including presentations on challenges in infrastructure, CCR's business over the past 10 years, and future opportunities. 2. Over the past 10 years, CCR has expanded its operations beyond highways into new sectors like urban mobility and airports through acquisitions and partnerships. 3. Upcoming infrastructure projects in Brazil include highways, railways, and urban mobility projects worth over $100 billion, representing opportunities for growth for CCR.

1. 1

2. Registration and breakfast:
Reception of guests and authorities
8h15
Renato Vale
Opening and welcome session
9h00
Min. Cesar Borges /Raul Velloso
Challenges of infrastructure
9h10
10h30 Q&A session and coffee break
11h10
Leonardo Vianna
New Businesses – Review of 10 years
12h00
Ítalo Roppa / José Braz/ Ricardo Bisordi
New Businesses: What to expect
in the coming years
13h00
Arthur Piotto Filho
Upcoming challenges
Renato Vale
Conclusions and wrap up remarks
13h20
13h30 Discussion, Q&A session
14h00 Lunch
AGENDA
2

3. VÍDEO
3

4. 4

5. 20 years of concessions,
15 years of CCR,
10th CCRDay
São Paulo, November 7, 2014
5

6. Renato Vale
Opening and welcome session
6

7. OVER THOSE
10 YEARS
2005 | 2014
of
7

8. 8

9. CCR BUSINESS
Create Solutions in Investments and
Infrastructure Services that contribute to the
Socio-economic and Environmental
Development of the regions where we operate
9

10. RECOGNITION
10

11. COMPANIES FROM CCR GROUP
CCR IN 2005…
Highway
Company Share
CCR Ponte
CCR NovaDutra
CCR ViaLagos
CCR RodoNorte
CCR AutoBAn
CCR ViaOeste
100%
100%
100%
86%
100%
100%
Company Share
STP
Company Share
CCR Actua
CCR Engelog
CCR Engelogtec
100%
100%
100%
Urban Mobility Services
companies
348%
11

12. COMPANIES FROM CCR GROUP
CCR IN 2014…
Highway
Company Share
CCR Ponte
CCR NovaDutra
CCR ViaLagos
CCR RodoNorte
CCR AutoBAn
CCR ViaOeste
100%
100%
100%
86%
100%
100%
Company Share
STP
Company Share
CCR Actua
CCR Engelog
CCR Engelogtec
100%
100%
100%
Urban Mobility Services
companies
Company Share
Quito
San Jose
Curaçao
BH Airport
45%
48%
79%
38%
Airports
348%
CCR RodoAnel
Renovias
CCR SPVias
ViaRio
(Transolímpica)
CCR MSVia
98%
40%
100%
33%
100%
ViaQuatro
CCR Barcas
VLT Carioca
CCR Metrô Bahia
58%
80%
24%
100%
SAMM 100%
12

13. 20 YEARS OF CONCESSIONS, 15 YEARS OF CCR...
CCR has a proven track record, either in acquisitions, diversification
or new biddings
2005 2006 2007 2008 2009 2010 2011 2012
Follow-on
USA
2013 2014
2003 2004
Concessions obtained Benchmark Acquisitions Extension of concession Multiple opportunities
for growth
(Transolímpica)
Follow-on
2002
IPO
13

14. COMPARISON
IBovespa x IGC x CCR Stocks
IGPM variation 152,9% and IPCA 118,9%.
2000%
1500%
1000%
500%
0%
-500%
Jan - Nov
2002
Jan - Oct
2003
Feb - Nov
2004
Jan - Dec
2005
Feb - Dec
2006
Feb - Nov
2007
Jan - Dec
2008
Feb - Dec
2009
Feb - Nov
2010
Jan - Dec
2011
Feb - Dec
2012
Feb - Nov
2013
Jan - Sep
2014
CCR x Ibovespa Closing price
Base 100: 01/31/2002 (without dividends adjustment)
CCR DAY 1
14

15. COMPARISON
IBovespa x IGC x CCR Stocks
From 01/31/02 to 12/31/13
+ 1.472%
R$ 1,13
R$ 17,77
2002 2013
15

16. Highlights in
2014
2014
Elections
16

17. 20 YEARS OF CONCESSIONS, 15 YEARS OF CCR...
Source: Valor Econômico 10/2014
17

18. HEADLINE ABOUT CCR METRÔ BAHIA
Source: Jornal Tribuna da Bahia 10/2014
18

19. Minister César Borges
São Paulo, November 7, 2014
19

20. São Paulo, November 7, 2014
Q&A session
20

21. Economist Raul Velloso
São Paulo, November 7, 2014
21

22. São Paulo, November 7, 2014
Q&A session
22

23. São Paulo, November 7, 2014
Coffee break
23

24. New businesses: Leonardo Vianna
São Paulo, November 7, 2014
Review of 10 years
24

25. HISTORY OF ACCOMPLISHMENTS
AND PERSPECTIVES
25

26. 0,8
99%
2004
4,0 (1)
1,6
40% (2)
2,4
60% (2)
2014
0.8
4,5
4,0
3,5
3,0
2,5
2,0
1,5
1,0
0,5
-
(BRL billion)
EBITDA
Existing assets
New businesses
(1) EBITDA 2014 – values Bloomberg – Market Consensus
(2) Ratio of Existing Assets and New Businesses
26

27. ASSETS CONCEDED IN BRAZIL
2005 to 2010
2005 No project
2006 Line 4 of São Paulo Metro
2007 7 Federal Highways
2008 6 State Highways in São Paulo
2009 BR116/BR324 in Bahia
2010
BA093 and RodoAnel Sul/Leste/SP
(Beltway)
BROWNFIELDS
Total of
17 projects
Total investment
estimated
~R$ 38.1 billion
Average investment
R$ 2.24
billion/project
27

28. GREENFIELD type projects
or with the need of high value
investments
Total
21 projects
Total investment estimated
~R$ 95 billion
ASSETS CONCEDED IN BRAZIL
2011 to 2014
Average investment
4.6 billion/project
Natal Airport
BR101 (ES/BA)
Guarulhos /Viracopos /Brasília Airports
Galeão Airport
Confins Airport
ViaRio
VLT CARIOCA
Salvador Metro
Line 6 of São Paulo Metro
Tamoios Highway
6 Federal Lots
PR -323
North Beltway BH
Monorail L-18 /SP
28

29. AMBIENTE COMPETITIVO
Assets conceded in Brazil – 2005 to 2010 Assets conceded in Brazil – 2011 to 2014
PREDOMINANCE OF
“PROVIDERS”
AND THE PERSENCE
OF FOREIGNERS
PROJECTS WITH VOCATION
TO CONSTRUCTION AND THE
NEED OF HIGH FINANCIAL
CAPACITY
29

30. STRATEGY
TREND
• High leveraging capacity
• Proven experience
• Partnership with construction
companies
PROJECTS WITH VOCATION
TO CONSTRUCTION AND THE
NEED OF HIGH FINANCIAL
CAPACITY
30

31. ALLIANCE AGREEMENT
Characteristics
ADMINISTRATION
AGREEMENT
ALLLIANCE
AGREEMENT
Remuneration: administration fee
Reimbursement of expenses
Risk mitigation “administration fee”
Results sharing
Shared management
Aditional cost mitigation mechanism
Open book
31

32. ALLIANCE AGREEMENT
Ceiling Price / Target Price
CP e TP
Ceiling Price
and Target
Price
Administration
Cost
C
Contingency Profit
T
Taxes
CI
Indirect Cost
CD
Direct Cost
CA
L
32

33. RESULTS SHARING
120
0
Max bonus = 100% of profit
Profit
Max loss = 100% of profit
80
20
90
15
100
10
110
5
Target Price
Results of the allied
Results of the agreement
33

34. CCR Metrô Bahia ALLIANCE AGREEMENT
OBLIGATION OF PARTNERSHIP WITH THE CONSTRUCTION COMPANY – PUBLIC NOTICE
INITIAL PROPOSAL (CEILING PRICE) DONE TOGETHER ( CCR ENGELOG X CONSTRUCTION COMPANIES)
VALIDATION OF THIS DESTE PROPOSAL DONE BY EXTERNAL AUDIT
INDEPENDENT COMPANY TO TRACK COSTS OF PROJECT
34

35. FUTURE PROJECTS
HIGHWAYS
35

36. HIGHWAYS
Main projects
4,590 Km of
Highways
Estimated
investment
R$ 30 billion
FEDERAL HIGHWAYS
• RIO - NITERÓI BRIDGE
• BR 476/153/282/480 PR/SC
• BR 364 - GO/MG
• BR-163 /230 - MT/PA
• BR 364/060 - MT/GO
• BR 101 - BA
• BR 262 –MG /ES
• BR 116- MG
PMI’s
2,625 Km
1,965 Km
Official sources
36

37. FUTURE PROJECTS
RAILWAYS
37

38. RAILWAYS
Federal plan of investments in logistics
Main sections to be bid
Railway ring SP North Section
Railway ring SP South Section
Access to Santos Harbor
Lucas do Rio Verde Uruaçu
Uruaçu – Corinto – Campos
Rio de Janeiro – Campos – Vitória
Belo Horizonte – Salvador
Salvador – Recife
Estrela do Oeste – Panorama – Maracaju
Maracaju – Mafra
São Paulo – Mafra – Rio Grande
Açailândia – Vila do Conde
Total Capex
R$ 91 Billion
Total ways
10.000 km
Launch of public notice + preparation of proposals: 1st semester 2014
Official sources
38

39. FUTURE PROJECTS
URBAN MOBILITY
39

40. URBAN MOBILITY
Main projects
• INTER-CITIES TRAIN - SP
• BELO HORIZONTE METRO
• CONFINS VLT
• BRASILIA METRO
• LINE 3 - NITERÓI
• CURITIBA METRO
• PORTO ALEGRE METRO
• FLORIANÓPOLIS SEA CROSSING
• SP METRO (L-20 / L-5/ L-17)
5.4 billion
1.7 billion
5.3 billion
2.3 billion
3.0 billion
4.5 billion
2.5 billion
1.0 billion
15.0 billion
Investments over
R$ 38.7 billion
Official sources
40

41. TERRITORIAL VECTORS OF SÃO PAULO MACRO METROPOLIS
Source: Emplasa
41

42. COST ESTIMATE
NAME PERIOD
TOTAL/VECTOR
TERRITORIAL VECTOR 2025 2035 2040
RMSP 68.930,00 97.340,00 3.800,00 170.070,00
BANDEIRANTES 14.001,30 10.016,70 - 24.018,0
PARAÍBA VALLEY 7.419,30 9.416,70 250,00 17.086,00
EXPORT CORRIDOR 3.188,00 13.016,70 - 16.204,70
SOROCABA 8.115,30 7.556,70 - 15.672,00
MMP PERIMETER 7.228,00 3.727,00 - 10.955,00
SUBTOTAL 108.881,90 141.073,80 4.050,00 254.005,70
SYSTEMIC VECTOR
SANITATION AND WATER RESOURCES 29.699,80 17.660,00 - 47.359,80
ENVIRONMENTAL DEVELOPMENT 2.319,40 - - 2.319,40
SUBTOTAL 32.019,30 17.660,00 - 49.679,30
TOTAL OF PORTFOLIO 140.901,20 158.733,80 - 303.684,960
Source: Emplasa
42

43. COST ESTIMATE
Source: Emplasa
43

44. Current businesses: Ítalo Roppa
What to expect in the coming years
São Paulo, November 7, 2014
44

45. SÃO PAULO HIGHWAYS
45

46. CCR AutoBAn
Launch of de construction works by the Governor
46

47. SÃO PAULO HIGHWAYS CCR SPVias and CCR ViaOeste
47

48. NEW INVESTMENTS UNDER NEGOTIATION
Summary chart
CCR AutoBAn
R$ 230 million
CCR SPVias
R$ 160 million
CCR ViaOeste
R$ 24 million
Total
R$ 414 million
48

49. CONTRACTUAL REBALANCING
Criterion of
Marginal
Cash Flow
Real traffic
Return rate of
around 9%
Rebalancing in
the extention of
concession period
49

50. SÃO PAULO HIGHWAYS CCR SPVias
R$ 13.40 – uniderectional toll
collection
R$ 6.70 – bidirectional toll
collection
R$ 9.20 – uniderectional
toll collection
50

51. ViaQuatro
51

52. More than
190 MILLION
passengers transported
in the past 12 months
...almost one Brazil
per year
in its trains!
52

53. AVERAGE DEMAND
Working day
12.000
Only Paulista
and Faria
Lima Stations
operating
Inclusion of
Butantã,
Pinheiros,
República
Luz Stations
Record
785
(May/14)
708.000
2014 (*)
651.000
2013
568.000
2012
181.000
2010 2011
(*) Market Consensus
53

54. DELIVERY AS OF 2014
54

55. ViaQuatro
Addendum 05 Phase II
Issuance of Service Order
of Manufacture Phase II
Purchase of 15 new trains
and telecommunications
and signaling systems
R$ 663 million
55

56. Part 2
R$ 124
million
ACKNOWLEDGEMENT OF CREDIT IN FAVOR OF ViaQuatro
56

57. ViaQuatro VIDEO
57

58. STP
58

59. STP
Tolled Volumes (%)
58% (*)
Toll Revenue in Electronic
Collection (%):
62,7% (*)
(*) concessionaires administered by CCR Group (2014)
59

60. REVENUE AND EBITDA GROWTH – R$ MILLION
141
219
311
411
506
606
714
63 89 133 183 229
286 330
800
600
400
200
0
2008 2009 2010 2011 2012 2013 2014 (*)
Revenue EBITDA
CAGR: 32%
CAGR: 31%
(*) Market consensus
60

61. 65,76%
34,24%
Others
NEW
OWNERSHIP
STRUCURE
Acquisition value
(base Sep/2013)
R$ 2.55 billion
STP
61

62. PROJECTS
• We overcame 4.6 Million Users
• More than 210 parking lots
Beginning of commercial operation of
“Projeto Abastece” in more than 270 SHELL gas stations
Beginning of commercial operation of “Projeto Sem Parar TAXI”
(Non Stop TAXI Project) – more than 4,000 registered taxis
62

63. STP TRANSACTIONS AND THE COMPETITION
12 63 142 175 220 266 300 341 370 395 410 402 474
831
4500
4000
3500
3000
2500
2000
1500
1000
325 347 354 350 393 0 436
Mar/13 Apr/13 May/13 Jun/13 Jul/13 Aug/13 Sep/13 Oct/13 Nov/13 Dec/13 Jan/14 Feb/14 Mar/14 Apr/14 May/14 Jun/14 Jul/14 Aug/14
Total amount in the following Concessionaires: CCR Autoban, CCR RodoAnel, CCR ViaOeste, CCR SPVias and Renovias
1138
2670
1706
4146
0 3 30 66 107 134 159 191 225 268 295 267
500
Sem Parar Others
Frequency 915 MHz
In thousands
63

64. TRANSACTIONS IN ELECTRONIC COLLECTION
(frequencies 5.8 GHz and 915 MHz)
99%
1% Others
STP
In Concessions of highways administered by CCR.
64

65. CCR Metrô Bahia
65

66. ROUTES
15
jan
15
set
Sep 14
13
jun
Jan 15
Jun 14
Apr 17
Oct 16
Apr 16
Oct 15
Line 1 – Built (revitalization)
Line 1 - Under Construction
Line 2 - Project
Contract Provision
66

67. BEGINNING OF ASSISTED OPERATION
Lapa – Northern Access
67

68. BEGINNING OF ASSISTED OPERATION
Lapa - Retiro
68

69. MORE THAN 1.5 MILLION PASSENGERS TRANSPORTED
Since Jun/14
69

70. LINE 2
Typical Station
70

71. LINE 2
Typical Station
71

72. LINE 2
Typical Station
72

73. LINE 2
Typical Station
73

74. MAIN CHALLENGES OF THE PROJECT
Government
Inputs
Financing
Conter-provision
Integration
(Physical and Fare
with city bus)
Investments/
deadlines
74

75. VIDEO
75

76. New businesses: José Braz
What to expect in the coming years
São Paulo, november 7, 2014
76

77. CCR Ponte
77

78. CCR Ponte
• Investments: R$305 million
• Termination of concession contract: May 2015
• PMI
• Expected delivery of proposal: January 2015
78

79. CCR NovaDutra
79

80. CCR NovaDutra
• Planned aditional investments: R$ 3 billion
• Serra das Araras
• River Side roads, São Paulo and São José dos Campos
• Other Safety Works
80

81. CCR NovaDutra
Geometric
Project
Serra das Araras - km 219+000 to km 228+000/RJ
81

82. CCR NovaDutra
Serra das Araras - km 219+000 to km 228+000/RJ
Section Type – Tunnel
Type Section Tunnel
Illustration
83

83. CCR NovaDutra
Implementation of New Track of Serra das Araras
Bridges and Overpasses – Quantity: 16 | Total extension: 6.330 mts
Profile
Type 1
Height of pillars =
30 to 60 m
Type 2
Height of pillars =
15 to 35 m
Illustration
84

84. CCR RodoNorte
85

85. CCR RodoNorte
• Planned Additional Investments: R$ 1.0 billion
• Addition BR-277
86

86. INVESTMENTS CCR RodoNorte
BR 277
Duplication of Highway
Km 114 to Km 123
Section PR 243
87

87. INVESTMENTS CCR RodoNorte
BR 376
Duplication
of Highway
Planned
Investments:
2014: R$ 125 million
2015: R$ 100 million
88

88. CCR MSVia
89

89. CCR MSVia
90

90. CCR MSVia
• Concession Data
• BR-163 – Mato Grosso do Sul
• Total extension: 847 km
• Period: 30 years
• Contract signing: March 11, 2014
• Total planned investments: R$ 3.4 billion in the first 5 years of the Concession
• Being 10% of duplication necessary to the beginning of toll collection, planned for October 11, 2015
• % of Investments already contracted: 60 %
• Operations of the Highway started on October 11, 2014
91

91. PROJECT PROGRESS
92

92. ViaRio
93

93. ViaRio
• Concession Data:
• Transolímpica is an Expressway that connects Barra da Tijuca in Rio de Janeiro to Deodoro
• 2016 Olympic Games
• Total extension: 13 km
• Period: 35 years
• Contract signing: April 26 2012
• Total planned investments: R$ 1.6 billion, with completion planned to April 2016, being 67% of road with public input
• % of investments done up to date: 35%
• Contract amendment for alteration of layout: R$450 million, through public input from PCRJ
• Beginning of toll collection: April, 2016
94

94. ViaRio
Oct/14
Carlos Pontes Ave to North Entrance
of Engenho Velho Tunnel
Engenho Velho Tunnel
CARD PMO: Boiuna Hwy up to Rio
Grande Hwy | Boiuna Overpass
Segmento 01 Segmento 02 Segmento 03
1
Segmento 01 Segmento 02 Segmento 03
2
Segmento 01 Segmento 02 Segmento 03
3
Marechal Mallet Ave. Up to CFAP
95

95. VLT Carioca
96

96. VLT Carioca
• Concession Data
• Concession contract sponsored for services of implementation,
operation and maintenance of the VLT system in Rio de Janeiro
harbor region
• Total extension: 28 km
• Period: 25 years
• Contract signing: July, 2013
• Total planned investments: R$ 1.2 billion, with completion
planned to April 2016, being 45% of public input
• % of investments done up to date: 40%
• Beginning of commercial operations: April 2016
97

97. VLT Carioca
98

98. VLT Carioca
99

99. CCR Barcas
100

100. CCR Barcas
101

101. CCR Barcas
New Vessel Conceptual Project of Shipyard
102

102. CCR ViaLagos
103

103. CCR ViaLagos INVESTMENTS
Investments
Made
R$ 150 million
+ 15
years
of concession
104

104. New businesses: Ricardo Bisordi
What to expect in the coming years
São Paulo, November 7, 2014
105

105. OUR AIRPORTS
Juan Santamaria International
Airport, Costa Rica 1
Curaçao International
Airport 2
Quito International
Airport 3
Belo Horizonte International
Airport 4
Passengers / year
21 million
106

106. QUIPORT
107

107. QUIPORT
Distance:
40 km from Quito downtown
5,3
5,5 4,1 4,3
1,8 2,1 1,5 1,6
12% 10%
3,5 3,4 2,6 2,7
2012 2013 2013
accumulated
Sep
2014
accumulated
Sep
Domestic Passengers International Passengers
108

108. LOCATION AND ROAD ACCESS
Ruta Collas (north access to the Airport) – in operation
109

109. Ruta Viva (south access to the Airport)
Chiche River Bridge (south access to the Airport) - concluded
Open to traffic in the next months
LOCATION AND ROAD ACCESS
110

110. AIRPORT SITE
1 Passenger Terminal 2 Intl.Cargo Terminal 3 Dom. Cargo Terminal 4 Commercial Center 5 GSE/Catering 6 CargoApron
7 ARFF / Maintenance 8 GA Terminal 9 Airline Hangars 10 Main Apron 11 GA Hangars
6
1
4
5
2
3 7
8
9
9
11
10
111

111. PASSENGER TERMINAL
112

112. PASSENGER TERMINAL
113

113. PASSENGER TERMINAL
114

114. AIRPORT SITE
1 Passenger Terminal 2 Intl.Cargo Terminal 3 Dom. Cargo Terminal 4 Commercial Center 5 GSE/Catering 6 CargoApron
7 ARFF / Maintenance 8 GA Terminal 9 Airline Hangars 10 Main Apron 11 GA Hangars
6
1
4
5
2
3 7
8
9
9
11
10
115

115. CARGO TERMINAL
Logistic Center
116

116. AIRPORT SITE
1 Passenger Terminal 2 Intl.Cargo Terminal 3 Dom. Cargo Terminal 4 Commercial Center 5 GSE/Catering 6 CargoApron
7 ARFF / Maintenance 8 GA Terminal 9 Airline Hangars 10 Main Apron 11 GA Hangars
6
1
4
5
2
3 7
8
9
9
11
10
117

117. COMMERCIAL CENTER
118

118. COMMERCIAL CENTER
119

119. CONSTRUCTION PROGRESS
120

120. CONSTRUCTION PROGRESS
1 PTB Expansion 2 Hotel
1
2
121

121. PTB EXPANSION
122

122. BEFORE
123

123. CURRENT
• Investment: US$20 million
• Area: 7,700 m²
• 30% additional capacity in
the holdrooms
• 1.200 new seats
• 2 new boarding bridges
• Opening Date: May 2015
124

124. TERMINAL EXPANSION
125

125. CONSTRUCTION PROGRESS
1 PTB Expansion 2 Hotel
1
2
126

126. HOTEL WYNDHAM GRAN CONDOR
• Investment: US$ 17 million
• Area: 17,260m²
• 147 rooms
• Restaurants and business center
• Opening date: December 2015
127

127. HOTEL WYNDHAM GRAN CONDOR
128

128. ROUTE DEVELOPMENT
Mexico
Venezuela
Colombia
Peru
MSIA
NQIA
129

129. First routes
MSIA
NQIA
Mexico
Venezuela
Colombia
Peru
Brazil
Madrid
(Spain)
Quito
(Ecuador)
New routes
Amsterdam
(Netherlands)
New York
(USA)
Buenos
Aires
(Argentina)
Fort
Lauderdale
(USA)
ROUTE DEVELOPMENT
130

130. AWARDS
• 2014: South America´s Leading Airport and World Leading
Airport - World Travel Awards
• 2014: Beyond Success Award to Airport VIP Lounge by World
Confederation of Businesses
• 2014: Nominated to 360º Infrastructure Award Latin America
and Caribeen Region, first edition
• 2013: Airport VIP Lounges received the award for Equatorian
Company of the Year by Latin American Quality Institute
131

131. VIDEO
132

132. BH Airport
133

133. CONCESSION OVERVIEW
Federal Government auction:
November 2013
AeroBrasil Consortiumn, composed by
CCR, Munich Airport and Zurich Airport,
presented the winning proposal, which
included a 66% goodwill
Concession Agreement 30’ year duration
Minimum Bid Offer
R$ 1,1 bi
Winning Bid
R$ 1,820 bi
134

134. SHAREHOLDER STRUCTURE
75% 25%
Private SPE
51% 49%
135

135. OPERATIONAL TRANSITION
Phase I-A: Operations Transition
Stage 1
PAI:
Issue Date: 07/05/14
Approval: 28/05/14
1st phase achievement
22/07/14
PTO:
Issue date: 13/05/14
Approval: 02/06/14
Stage 2
• Infraero shall continue to
perform its activities
(revenues and expenses)
The Concessionaire will
assist the activities
Contract notification to
suppliers and service
providers
Operations Certificate
Inspection - ANAC:
15 - 16/07/14
Stage 3
The Concessionaire shall
take full responsibility for
the operation of the Airport
(revenues and expenses)
Infraero shall make
available, on demand under
the management of the
Concessionaire
3 months which can be
extended for more 3 months
Effective Date of the Agreement (07/05/2014) 12/08/2014
136

136. OPERATIONAL TRANSITION IMMEDIATE ACTION PLAN (IAP)
Tasks after the Effective Date of the Agreement
• Revitalization and updating of passenger
information signs inside the TPS
• Reviewing and improvement of the lighting
system of roads access
• Expansion of the number of electric power
outlets in the departure lounges
• Reviewing of the building’s firefighting system
• Free high speed wifi
• Improvement and Maintenance the
landscaping in flowerbeds and road
access(*)
• Install vertical and horizontal signage
of the road access(*)
• Improvements to the conditions of repair
of restrooms and baby-changing facilities
137

137. IMMEDIATE ACTION PLAN (IAP)
Wayfinding
Before Before
After After
138

138. IMMEDIATE ACTION PLAN (IAP)
Wayfinding Landscaping
139

139. START OF OPERATIONS AND PRESENTATION
Infrastructure Improvement Plan (PMI)
August 12 – Start of operations under BH
Airport management and PMI presentation
to authorities and press
140

140. OPERATIONAL TRANSITION
141

141. BRAND AWARENESS
The airport has a new corporate identity, including a BH Airport branding
and logo, and the message “Board this new flight with us”
142

142. PHASE 1B (2014 – 2016)
Parking
GSE
TPS
2
A
B
C
PTB 2
Utilities
Main Apron
D E F G H
I J K L M
143

143. PHASE 1 / PHASE 2 (2017 – 2023)
144

144. INVESTMENT PLAN – 2014 to 2023
• PTB Area: 40,000 m²
• 14 Boarding Bridges:
• 11 Code C Aircrafts
• 4 Code E Aircrafts
• Apron:
• 37 Code C Aircrafts
• 7 Code E Aircrafts
• 2nd Runway (2.500m)
• Addtional Peak Hour Capacity:
• 1650 departure pax
• 1700 arrival pax
• Annual Capacity: 23 mi pax
145

145. INVESTMENT PLAN – 2014 to 2023
Source: Premissa de Contrato
146

146. CONCEPTUAL DESIGN – NEW TERMINAL
147

147. CONCEPTUAL DESIGN – NEW TERMINAL
148

148. CONCEPTUAL DESIGN – NEW TERMINAL
149

149. CONCEPTUAL DESIGN – NEW TERMINAL
150

150. CONCEPTUAL DESIGN – NEW TERMINAL
151

151. OPPORTUNITIES
Change the airport to a domestic
hub with international flights,
due to the airlines demand for domestic connecting flights (including regional
routes) and new routes
152

152. OPPORTUNITIES
Change the airport to a domestic
hub with international flights,
due to the airlines demand for domestic connecting flights (including regional
routes) and new routes
153

153. OPPORTUNITIES
Change the airport to a domestic
hub with international flights,
due to the airlines demand for domestic connecting flights (including regional
routes) and new routes
154

154. OPPORTUNITIES
• Change the airport to a domestic hub with international flights,
due to the airlines demand for domestic connecting flights
(including regional routes) and new routes
• Cargo Terminal enhanced acitivities and scope
• Transform and expand the commecial program
• Development of the “Airport Industry” concept
155

155. São Paulo, November 7, 2014
Arthur Piotto Filho
Upcoming challenges
156

156. ACTION STRATEGY IN 2005
Focus on
profitability
Commitment with
dividends and
controlled leverage
Growth by means of:
2005 Portfolio
New businesses
Action in the foreign market
Related business
157

157. 2005 PORTFOLIO – TRAFFIC, HISTORICAL CORRELATION
Historical Elasticity 1.5x PIB
Elasticity 05-08 1.2x PIB Elasticity 10-13 2,3x PIB
CAGR Traffic: 5,4%
CAGR PIB: 3,5%
Portfolio: CCR AutoBAn, CCR NovaDutra, CCR RodoNorte, CCR ViaLagos, CCR Ponte and CCR ViaOeste
158

158. 2005 PORTFOLIO – EBITDA MARGIN
Annual average expansion of 260 bps
54%
59%
54%
58%
56%
58%
51%
56%
62%
58%
66%
57%
64% 64% 64%
59%
62%
62%
64%
61%
64%
61% 61%
60%
Portfólio: CCR AutoBAn, CCR NovaDutra, CCR RodoNorte, CCR ViaLagos, CCR Ponte and CCR ViaOeste
66%
69%
65%
67%
68%
65%
69%
67%
68%
68%
77%
72%
1T05 2T05 3T05 4T05 1T06 2T06 3T06 4T06 1T07 2T07 3T07 4T07 1T08 2T08 3T08 4T08 1T09 2T09 3T09 4T09 1T10 2T10 3T10 4T10 1T11 2T11 3T11 4T11 1T12 2T12 3T12 4T12 1T13 2T13 3T13 4T13
With New Businesses the annual average expansion was 140 bps
159

159. 2005 PORTFOLIO – ADDED VALUE
Added investments as a source of value generation
YEAR CONCESSIONAIRE WAY TO REBALANCE
2011 ViaLagos Extension of 15 years
2008 ViaOeste Increased Collection Base
2006 ViaOeste Extension of 4 years
2006 AutoBAn Extension of 8 years
Whoever invests in CCRO3 also takes this option at zero cost
160

160. Focus on
profitability
Commitment with
dividends and
controlled leverage
Growth by means of:
2005 Portfolio
New businesses
Action in the foreign market
Related business
DONE
ACTION STRATEGY IN 2005
161

161. GROWTH OF NEW BUSINESSES
What did we say in 2005?
162

162. NEW BUSINESSES
What are the opportunities offered by the market?
Main opportunities
Federal – 2nd stage 2,600 Km 2007 7 Roads
Federal – 3rd stage 4,872 Km 2013 6 Roads 1
State of São Paulo –
1,800 Km 2008 5 Roads
2nd stage (partial)
Porto Alegre
Metropolitan Pole
202 Km Did not happen
Secondary market 2008 and 2010 2 Roads 2
BR 101 475,9 Km 2012 1 Road
BR 116/BR324 in BA 680,6 Km 2009 1 Road
BA093 125,3 Km 2010 1 Road
Tamoios Highway 119,0 Km 2013 1 Road
PR – 323
319,9 Km
2013 1 Road
Contorno Norte in BH 66,0 Km 2013 1 Road
163

163. NEW BUSINESSES
Expansion of Concessions Market in Brazil
Urban Concessions in big cities
(7 projects)
2006, 2012, 2013
2014
What was not planned and happened?
ViaRio, VLT, CCR Metrô Bahia, ViaQuatro, CCR
Barcas, Monorail L-18/SP, Line 6 of SP Subway
5
Rodoanel in São Paulo 2008 and 2010 2 auctions of 3 sections 1
Airports 2011 and 2013 6 Airports 1
2005: 10 assets
2014: 24 assets
164

164. Focus on
profitability
Commitment with
dividends and
controlled leverage
Growth by means of:
2005 Portfolio
New businesses
Action in the foreign market
Related business
DONE
DONE
ACTION STRATEGY IN 2005
165

165. FOREIGN MARKET 2012
1) San Jose International Airport (48,75%)
• Acquisition value (Sep/12): R$ 99 million
• EBITDA LTM: R$ 32 million
2) Curaçao International Airport (79,80%)
• Total acquisition value (Oct/12 and Jun/13):
R$ 74 million
• EBITDA LTM: R$ 16 million
3) Quito International Airport (45,49%)
• Acquisition Value (May/12): R$ 285 million
• EBITDA LTM: R$ 116 million
Total Value of Acquisitions
~R$ 458 milhões
EBITDA LTM
~R$ 164 milhões
1
2
3
Acqusition of 3 airports
outside Brazil as well as
evaluation of a number
of opportunities
Values refer to the participation of CCR, LTM (Last 12 months) Sep/14
166

166. Focus on
profitability
Commitment with
dividends and
controlled leverage
Growth by means of:
2005 Portfolio
New businesses
Action in the foreign market
Related business
DONE
DONE
DONE
ACTION STRATEGY IN 2005
167

167. RELATED BUSINESS
EBITDA R$ million Nº of users (in millions)
STP
2005 2006 2007 2008 2009 2010 2011 2012 2013
350
300
250
200
150
100
50
-
5,0
4,5
4,0
3,5
3,0
2,5
2,0
1,5
1,0
0,5
EBITDA values and no. of users refer to 100% of the business, CCR participation in this project is 34,24%
168

168. BUSINESS EVOLUTION
Net Revenue
R$ million
583
24.456
14.573
2013
2012 Set/14
SAMM
Perspectives
• Expressive growth of data demand
• Main demand: big corporations/
financial groups
• Presence in all main Data Centers
between RJ and SP
169

169. EBITDA PERFORMANCE
CAGR: 12,3%
CAGR: 18,1%
CAGR IPCA: 5,3%
EBITDA generated by New Businesses:
79% highway sector
12% urban mobility
9% airport sector
5 projects at implementation phase:
CCR ViaRio, VLT Carioca, CCR Metrô
Bahia, Confins and CCR MSVia
0,8
0,9 1,0
1,2
1,4 1,4
1,6
1,9
2,1
2,3 2,4
0,8
1,1
1,2
1,4
1,7
1,9
2,3
2,9
3,3
3,8
4,0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014(*)
2004 Portfolio Current portfolio
R$ billion
2014 (E) Bloomberg Consensus
CAGR calculated using unrounded numbers
170

170. Focus on
profitability
Commitment with
dividends and
controlled leverage
Growth by means of:
2005 Portfolio DONE
New businesses
Action in the foreign market
Related business
DONE
DONE
DONE
ACTION STRATEGY IN 2005
171

171. FOCUS ON PROFITABIILITY
But we used to say that our focus would be to
grow with a focus on profitability. How did we do?
36,4% 34,9%
500
35,8%
547 580
45,2%
24,6%
21,4%
714 709 672
28,0%
899
35,0%
1177
38,8%
1351
2005 2006 2007 2008 2009 2010 2011 2012 2013
1,
5
1,
3
1,
1
0,
9
0,
7
0,
5
0,
3
Profit (R$ millions) ROE
172

172. FOCUS ON PROFITABIILITY
But we used to say that our focus would be to
grow with a focus on profitability. How did we do?
50,0%
40,0%
30,0%
20,0%
10,0%
ROE CCR
ROE Player 2
ROE Player 1
2005 2006 2007 2008 2009 2010 2011 2012 2013
173

173. Focus on
profitability
Growth by means of:
2005 Portfolio DONE
New businesses
Action in the foreign market
Related business
DONE
DONE
DONE
ACTION STRATEGY IN 2005
Commitment with
dividends and
controlled leverage
174

174. DIVIDENDS AND LEVERAGE
302 354
532 604 608
851 802
1.054
1.301
1.400
1,0x
0,9x 0,7x
1,5x
1,5x
2,4x
2,1x 2,2x
1,9x 2,0x
Set
2014
2005 2006 2007 2008 2009 2010 2011 2012 2013
Dividend (r$ million) Net debt/ EBITDA
175

175. 3,0x
12,0
LEVERAGE
R$ billions Net Deb / EBITDA Net Debt
R$ 3.9 billion
of additional
capacity
Source: EBITDA of the past 12 months
Sep 2014
8,1
2,6x
2,0x
0,6x
1,1x
0,9x
0,8x
1,5x
1,5x
2,5x
2,1x
2,2x
2,0x 2,0x
176

176. Growth by means of:
2005 Portfolio
New businesses
Action in the foreign market
Related business
DONE
DONE
DONE
DONE
Focus on
profitability
commitment with
dividends and
controlled leverage
ACTION STRATEGY IN 2005
177

177. WHAT HAS CHANGED IN THE PAST 10 YEARS?
178

178. DIVIDENDS (CASH)
The commitment of paying a minimum of 50% of net
profits as dividends to shareholders (R$ millions)
16%
58% 61% 65%
183 263
92% 85% 85%
500 547 580
127%
714 709 672
90% 90% 96% 106%
899
1.177
1.351 1.323
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
(*) Bloomberg consensus
1- For 2014 Bloomberg market consensus was used.
2- Considers average quotation of shares in the year
Net Profit1 Payout
(*)1
179

179. Infrastructure,
a long way to go...
180

180. Renato Vale
Wrap up session
São Paulo, November 7, 2014
181

181. 20 YEARS OF CONCESSIONS, 15 YEARS OF CCR...
CCR has a proven track record, either in acquisitions,
diversification or new biddings
2005 2006 2007 2008 2009 2010 2011 2012
Follow-on
USA
2013 2014
2003 2004
Concessions obtained Benchmark Acquisitions Extension of concession Multiple opportunities
for growth
(Transolímpica)
Follow-on
2002
IPO
182

182. COMMITMENT OF DIVIDEND WITH CONTROLLED LEVERAGE
302 354 532 604 608
851 802
1,054 1,301 1,400
1,0x 0,9x
0,7x
1,5x 1,5x
2,4x
2,1x 2,2x
1,9x 2,0x
2005 2006 2007 2008 2009 2010 2011 2012 2013 Set 2014
Dividend (R$ milhões) Net debt/ EBITDA Payout
61% 65%
92% 85% 85%
127%
90% 90% 96% 106%
Dividend (in million)
183

183. RECOGNITION
184

184. CCR BUSINESS
Create Solutions in Investments and
Infrastructure Services that contribute to the
Socio-economic and Environmental
Development of the regions where we operate
185

185. BUSINESS PILLARS
Active Corporate
Governance
Management Model
in constant
evolution
186

186. BUSINESS PILLARS
CCR Engelog
344
employees
CCR EngelogTec
351
employees
CCR Actua
489
employees
More than 1,100 employees
Services units
187

187. People
Professionals Training Program
Hired Trainees: 141 (from 2006 to 2014)
Retention of 72%
LDP – Leadership Development Program
• 500 employees
Analysis and Management Group
• 1,185 employees
More than 12,000 employees
BUSINESS PILLARS
188

188. BUSINESS PILLARS
Perpetuity
Sustainability
189

189. INVESTMENTS IN SUSTENTABILITY
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
In R$ x 1,000
11 YEARS
INVESTMENT OF
R$ 135
millions
(*) for 2014 to 2018
CCR plan – direct investments and incentives
190

190. In R$ x 1,000
NEXT 5 YEARS
INVESTMENT OF
R$ 275 millions
(*) for 2014 to 2018
INVESTMENTS IN SUSTENTABILITY
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
*CCR plan – direct investments and incentives
191

191. BUSINESS PILLARS
HEALTH AND
QUALITY
OF LIFE
EDUCATION
AND
CITIZENSHIP
CULTURE
AND SPORTS
THE ENVIRONMENT
AND ROAD SAFETY
192

192. WHY INVESTING IN CCR?
Clear, defined and public strategy
Controlling shareholders with the same goals and vision
High quality employees under ongoing development process
Solid financial structure
Access to capital market
Strong dividends policy
Significant upside potential
Qualified growth and sustainable development
193

193. Discussion, Q&A session
São Paulo, Novermber 7, 2014
194

194. Lunch
São Paulo, Novermber 7, 2014
195

195. 196