Institutional Presentation 2019 Content

. Port of Santos 03 . About Santos Brasil 05 . Tecon Santos 08 . Tecon Imbituba 14 . Tecon Vila do Conde 19 . TEV – Vehicle Terminal 24 . Logistics 25 . Investments & Financial Highlights 27 . Corporate Governance 32 . Sustainability 33

2 Port of Santos ‘Must-call port’ in South America

. Largest Port in South America . > 25% of Brazilian trade balance . Hinterland covers 55% of Brazil’s GDP . Connected to Brazil’s main roads and railways . ~90% of São Paulo’s industrial base is located less than 200 kilometers from the Port of Santos BTP DPW Santos

Rodrimar

Libra Ecoporto

3 12 Port of Santos Tecon Santos’ market-share recovery: 40.4% in 4M19 vs. 35.4% in FY18

Market share – 4M19 Container throughput (TEU x 1,000)

DP World Santos Santos 12.1% 2018 x 2017 . CAGR 1998 – 2018 Brasil Libra . 40.4% 9.9% - Port of Santos: +4.0% (+7.0% in TEU) - Port of Santos: 8.5% Others 0.4% - Tecon Santos: +7.8% (+9.5% in TEU) - Tecon Santos: 9.2%

BTP 37.2%

Container throughput (TEU x 1,000) 4,122 3,780 3,854 3,656 3,565 3,448 3,104 2,984 2,685 2,722 2,446 2,533 2,268 2,252

1,883 1,733 1,811 1,560 1,487 1,380 1,426 1,446 1,270 1,355 1,314 1,320 1,224 1,159 1,253 1,048 1,008 1,044 799 801 746 775 612 436 248 302 346 350

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Port of Santos Tecon Santos 4 Source: CODESP and Santos Brasil About Santos Brasil History

5 About Santos Brasil Highlights

. Publicly-traded company, listed in B3 TECON VILA DO CONDE . Five terminals on the Brazilian coast - Three container terminals

- One vehicle terminal

- One general cargo terminal . Container throughput: 1.68 million TEU (twenty-foot equivalent unit) in 2018 . Port-to-Door full logistics solution (Santos Brasil Logística)

. 16.8% of the Brazilian container throughput in 2018* TECON SANTOS

TEV DISTRIBUTION BONDED LOGISTICS CENTER (SÃO BERNARDO CENTERS DO CAMPO) (SANTOS AND GUARUJÁ) TECON IMBITUBA TCG IMBITUBA * Source : ANTAQ (GENERAL CARGO TERMINAL) 6

Container terminal operation The container cycle in a import operation (reverse for exports)

5a Regular Containers Regular containers are taken to the common yard, where they are positioned according to the order in which they will most likely be moved into trucks to leave the terminal

Ship arrives at the Ship-to-Shore (STS) or Trucks Reach Stackers Port Warehouse/ De- 1 2 3 4 Reefer containers are 6 Port Mobile Harbor Cranes Consolidation positioned in a reefer yard. (MHC) Connections and functionalities are regularly monitored (i.e. temperature)

5b Reefer Containers Containers are transported by Cranes unload the containers After the container is placed RTGs are used to lift the ships, which dock at the from the ships, positioning Cargo of dry on the truck's bed, it is taken containers from flat-bed trucks terminal’s quayline them in trucks and/or terminal containers is partially to the (reefer or dry) backyard and to position them in the tractors unstuffed (fee is stockpiles at the yard. charged over the Containers are stored before importer) collected by the client

10 Importer 9 Logistics Unit 8 Road 7 Customs

The containers transportation Containers can be transported After the container is placed in is made by truck, train (Tecon by road to freight processing the yard or warehouse, Santos) or barge (Tecon Vila units in the region customs have the green light do Conde) to make any required inspection or to clear the cargo

7 TECON SANTOS Tecon Santos Best solution for containers in South America

. Growth capacity: CAPEX plan of ~R$1.3 billion already started Geographic Footprint

. Lease contract renewed until 2047 RR AP Southeastern AM . Equipment 100% GPS-controlled PA MA CE RN Ports PI PB AC PE TO AL RO BA SE . Connected to Brazil’s main roads and railways MT GODF MG MG MS ES . 4 internal railway tracks SC Vitória SP RJ SP ES PR SP RJ Rio + SC Itaguaí RS Tecon Santos

Market Share 2018

35.4% 35.6%

15.6% 12.6%

0.8%

Tecon Santos BTP DP World Santos Libra Others

9 7 Tecon Santos Infrastructure and other information

Equipment # General data Security STS MHC Reach Stacker RTG Allows Draft: 13.5m Scanner (non-invasive Post- Ship-to-Shore 13¹ Quayline extension: 980m + inspection) Panamax MHC 1 310m (TEV) vessels Surveillance cameras Reach Stackers 18 Area: 596,000 m2 to dock Restricted access at the RTG 46 Annual capacity: 2,000,000 Port TEU

10 7 (1) There are currently 11 STS cranes in operation. In 2018, 2 cranes were acquired, expected to be delivered in 2020. Tecon Santos R$ 3.0 billion1 invested to upgrade and expand the terminal

High Productivity - movements per hour per vessel (MPH) . Tecon Santos in 1997: 11 MPH

106 105 99 93 Monthly Average 92 in 2018 92 MPH 69

Tecon Santos in 2018: 92 MPH

MPH

2013 2014 2015 2016 2017 2018

(1) IGP-M inflation adjusted 11 Tecon Santos Investments cycle in progress: cutting-edge technology, modern layout

NEW LAYOUT

Automation Focus on efficiency

New Capacity 2,400,000 TEU

Quay extension Estimated CapEx R$ 1.3 billion (US$ 350M)

Hired Investments (FY18) ~R$ 100M

12 Tecon Santos CapEx prioritization

Phase 2 Phase 1 Backyard capacity expansion Berths extension and modernization to attend ships with 366 meters length Improvement of the road-rail access

Phase 3

Automation: increasing capacity and cost reduction

13 TECON IMBITUBA

Inserir imagem aqui, Tecon preenchendo o espaço por Imbituba completo.

14 Tecon Imbituba Strategic Location at Southern Region, with developed logistical access

. 14.5m draft: port terminal ready to receive Super-Post-Panamax Geographic Footprint vessels of 366 meters length

RR AP . Close to Santa Catarina and Rio Grande do Sul industrial zones Southern AM PA MA CE RN Ports PI PB 25-year lease contract (starting in 2008), with a renewal option AC PE . TO AL RO BA SE for additional 25 years MT GODF TCP PR MG Itapoá Beneficiary of adjacent infrastructure projects: widening of BR- MS ES . SC SP RJ APM & Portonave 101 federal highway and the construction of Coastal Railway PR RS Imbituba (“Ferrovia Translitorânea”) SC RS Tecon Rio Grande

. Favorable meteorological conditions and 24-hour access Hinterland

. Tecon Imbituba hosts 2 terminal types: Container and General Market Share 2018 Cargo 28.7% 28.7% 24.7% One-stop shop: ship, DEPOT and container freight station (CFS) . 14.6% operations 3.3%

Tecon Imbituba Tecon Rio Grande Portonave Porto Itapoá Porto Itajaí

15 7 Tecon Imbituba Infrastructure and other information

General data Security Equipment # STS MHC Reach Stacker Allows Draft: 14.5m Scanner (non-invasive Super- Ship-to-Shore 2 Quayline extension: 660m inspection) Post- MHC 2 Surveillance cameras Area: 207,000m2 Panamax Reach Stackers 8 vessels Restricted access Annual Capacity: 450,000 TEU to dock at the Port 16 7 Tecon Imbituba TECON VILA DO CONDE Potential for volume increase

. Tecon Imbituba and its peer terminals (Itajaí/Navegantes and Rio Grande) are equidistant from the industrial zones and the consumption centers in the Southern region PARANAGUÁ 765,785 TEU*

ITAPOÁ / SÃO FRANCISCO DO SUL  The states of Rio Grande do Sul and Santa 634,197 TEU* Nearby Agricultural Catarina together accounted for 40.5% of ITAJAÍ / NAVEGANTES Area Brazilian chicken and 69.7% of pork exports in 2017(1) 1,111,938 TEU*

 Rio Grande do Sul holds the largest concentration of biodiesel, tobacco, IMBITUBA Nearby Industrial automation, agricultural & road machinery, 84,885 TEU* Cluster wine, trailers & car bodies, and leather & footwear producers / manufacturers in Brazil(2)

Container Terminal With Premium  Premium transportation logistics with 2 main Logistics roads and railways under construction Imbituba Hinterland RIO GRANDE 736,967 TEU* Pork And Poultry Production

Rio Grande do Sul Industrial Zone

* Source: Volume in 2018 (ANTAQ) 17 (1) Brazilian Association of Animal Protein 2018 Annual Report; (2) InvestRS – Rio Grande do Sul State Tecon Imbituba R$ 965 million(1) invested since 2008

. Improving Productivity - movements per hour per vessel (MPH)

Monthly Average in 2018 60 MPH

(1) IGP-M inflation adjusted. Includes investments in Imbituba General Cargo terminal 18 TECON VILA DO CONDE

19 Tecon Vila do Conde Located in the delta of Amazon River

. Located in the North region of Brazil, with no physical constraints Geographic Footprint to receive long haul vessels

RR AP Northern . Dominant container terminal in Pará state, well connected to other Ports AM Brazilian ports via cabotage PA MA CE RN Vila do Conde PI PB AC PE TO AL RO BA SE . Connected to all continents, directly, through Caribbean hub ports MT AP Belém Fortaleza Itaqui and Panama Canal GODF (Pecém) MG MS ES PA MA CE SP RJ PI . Offers container stuffing and unstuffing services, as well as PR refrigerated warehousing SC RS . Capacity expanded in 2018: investments in new equipment and infrastructure modernization Market Share 2018 . Lease contract recently renewed for an additional 15-year period # ‘000 containers (by 2033)

15 14 103 . Important commodities export hub in the region (e.g. timber, frozen 16 70 78 39 50 meat, pepper, agricultural products, metals, minerals and fruits) 25 2013 2014 2015 2016 2017 2018 Vila do Conde Belém

20 7 Tecon Vila do Conde Infrastructure and other information

General data Security Equipment # MHC Reach Stacker

Draft: 13.5m Allows Scanner (non-invasive Post- MHC 3 Quayline extension: 254m inspection) Panamax Reach Stackers 12 Surveillance cameras Area: 86,615 m2 vessels

to dock Restricted access Annual Capacity: 217,000 TEU at the Port

21 7

Tecon Vila do Conde TECON VILA DO CONDE North Region: inland waterway cargo transportation

Vila do Conde x MACAPÁ - AP Main Cargoes: Chemical Products

Vila do Conde x MUNGUBA Vila do Conde x BELÉM Main Cargoes: Kaolin and Cellulose Main Cargo: Wood

VILA DO CONDE Vila do Conde x CAMETÁ Main Cargo: Palm Oil

Vila do Conde x ALTAMIRA Vila do Conde x MANAUS - AM Main Cargo: Machinery Main Cargoes: Spare Parts and Vila do Conde x TUCURUÍ Chemical Products Main Cargo: Silicon

Vila do Conde x SANTARÉM X ITAITUBA Main Cargo: Wood

22 Tecon Vila do Conde Recent upgrade and capacity expansion to 217,000 TEU

23 7 TEV - Vehicle Terminal Largest vehicle terminal in Brazil

. Neighbor to Tecon Santos

. Handling of different types of cargo: trains, dismantled industrial plants, power transformers, dismantled machinery, large sculptures etc

. Annual capacity: 300,000 vehicles

- Static capacity: 10,000 vehicles

- FY18 throughput: 241,291 vehicles

- Total area: 164,000 m²

- Quayline extension: 310 meters

24 Logistics Vertical integration

. Taylor-made logistics services, integrating maritime transportation to exporters’ and importers’ logistic chain . Potential to increase customers’ competitiveness: eg. the “K10” logistics operation for BASF . Synergies between integrated logistics and port operations . Infrastructure: - Distribution Center in São Bernardo do Campo (105,000m²) - CLIA Guarujá (bonded warehouse - 52,900m²) - CLIA Santos (bonded warehouse - 64,755m²)

TECON SANTOS EXPORTS BONDED WAREHOUSING Tecon Santos (left bank) IMPORTS IMPORTS Clia Santos (right bank) EXPORTS Container Clia Guarujá (left bank) Container GROUND Transportation Transportation TRANSPORTATION

DISTRIBUTION JUST-IN-TIME CENTER DELIVERY 25 to industrialPlants Main clients Port terminals and Logistics

26 Investments R$ 4.9 billion(1) in 22 years

M&A CAPEX . 1997 – Tecon Santos bidding . 2004/2006 – Tecon Santos first expansion . 2006 – Santos Brasil IPO . 2008/2010 – Tecon Santos second expansion . 2007 – Santos Brasil Logística acquisition . 2008/2011 – Tecon Imbituba expansion . 2008 – Tecon Imbituba bidding & Tecon Vila do Conde acquisition . 2009 – Vehicles terminal bidding

M&A CAPEX

297 197

184 274 112 127 124 91 97 98 85 61 190 220 72 48 28 95 28 5 12 10 86 27 15 7

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

(1) IGP-M inflation adjusted 27 Financial Highlights EBITDA and EBITDA Mg.

Net Revenue (R$M) Net Revenue Breakdown (1Q19)

Logistics Port Terminals 25% (warehousing) 31%

Vehicle terminal 965 922 829 824 5%

214 227 Port Terminals (quay) 2015 2016 2017 2018 1Q18 1Q19 36 39%

Pro Forma EBITDA² (R$M) and EBITDA margin (%) Net Income (R$M) and Net margin (%)

15.2% 3 10.5% 11.6% 10.2% 7.6% 4.3% (5) (6) (9) 0.3% (23) (28) -0.6% 147 -2.8% -3.4% 107 -2.4% 87 84

16 10 -4.0% 2015 2016 2017 2018 1Q18 1Q19 2015 2016 2017 2018 1Q18 1Q19 (1) Does not consider intracompany eliminations 28 (2) Pro-forma EBITDA sum leasing expenses; Debt Leverage and Cash Flow S&P – Corporate rating in national scale: brAAA EBITDA and EBITDA Mg.

Operating Cash Flow (R$M) Net Debt (R$M) and Net Debt / EBITDA pro-forma (1) 0.73x 0.46x

-0.25x -0.45x -0.35x 108 -0.49x 168 40 122 108 75 22 (27) 16 (38) (33) (31) 2015 2016 2017 2018 1Q18 1Q19 2015 2016 2017 2018 1Q18 1Q19

Gross Debt (R$M) and Long Term Debt (%) Gross Debt – Currency Breakdown Local Currency 59% Foreign currency

12% 3% 10% 43% 18% 22% 22% 34% 35% 29% 26% 88% 97% 90% 340 82% 78% 78%

233 233 227 220 218 2015 2016 2017 2018 1Q18 1Q19 2015 2016 2017 2018 1Q18 1Q19 29 (1) Last-twelve-month pro-forma EBITDA Debt highlights and financial ratios Net cash of R$ 31.4 million at 03/31/2019 EBITDA and EBITDA Mg.

Debt Amortization (R$M) Debt Currency Outstanding (R$M) %

NCE BRL 126.9 58.2%

Finimp USD/EUR 16.9 7.8% 249 Finame BRL 2.8 1.3% 141 CCE USD 71.3 32.7% 44 9 24 Cash & Equivalents 2019 2020 2021 2022+ 36 Total 217.9 100.0%

Gross Debt - currency breakdown Financial indicators – 1Q19

Debt leverage -0.35x net debt / pro-forma EBITDA LTM 48 Coverage ratio 1.7 pro-forma EBITDA LTM / interest expenses LTM

Current ratio 1.2 current assets / current liabilities 170 Quick ratio 1.2 (current assets - inventories) / current liabilities

Local Currency Foreign currency Cash ratio 0.8 cash & equivalents / current liabilities

30 CapEx and Dividends R$ million

Capital Expenditures Dividends and Interest on Equity distribution (R$M)

72 28 27 16 15 7 205 187 194 8% 3% 1% 3% 1% 9% 16% 1% 45% 38% 31% 16% 99% 99% 85 82% 70 51% 52% 42% 31 18 2014 2015 2016 2017 2018 1Q19 4 2 3 Port Terminals Logistics Corporate TEV Total (R$M) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Corporate Governance All preferred shares converted to voting shares in 2016

. “Novo Mercado” listing on B3 Shareholding Structure (May/19)

Treasury 0.4% . 100% Tag Along for all minority shareholders

Others . One Share, One Vote (no shareholders agreement) 24.5%

The Bank . Board of directors: 7 members formed by shareholders of New York Richard ADR Klien Department 4.7% 29.8% Multi STS . Permanent Fiscal Board Participações 5.9%

. Management: Dynamo 12.2% PW 237 - Stock Options, Performance Shares and Matching for key executives; Participações 22.4% - Compensation program for managers and employees: EBITDA and EVA oriented; - Individual performance plans = clear and targets; - Progression, promotion and compensation based on meritocracy;

Total of 667,165,940 voting shares 32 (1) Includes the participation of the fund ‘RK Exclusivo FIA’ 38 Sustainability and Social Responsability

 Member of the Global Compact, an international sustainability pact  R$ 26 million invested in training over the last 6 years

 Sustainability Report¹ compliant with GRI Standard since 2012  Annual average of 10.93 hours of training per employee

 Sustainability Academy, an ongoing training for leaders ‘Formare Aprendiz’ program: 251 youngsters graduated since  2009 – 86 were hired

 ‘Eu Sou Voluntário’ program: 170 employees subscribed

 Support to local projects for social insertion through education, sports and development of physical, intellectual and/or sensorial skills of handicapped child and teenagers

33 42(1) Website: Santos Brasil - Sustainability IR contact, Web and Social Medias

[email protected] +55 (11) 3279-3279

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