Institucional Presentation 2020
1 Corporate Structure
ON: 50,0% ON: 50,0% PN: 100,0% PN: - Total: 69,1% Total: 30,9% IGLI S.p.A.
Primav Infraestrutura S.A.
63.99% 31.02%
4.99%
100%
100%
2 Ecorodovias portfolio includes 10 highway concessions Overview of Ecorodovias with total of 3,041 km and one port asset (Ecoporto) in Geographic Footprint eight different states of Brazil, located in the main trade corridors in the South and Southeast regions
2019 Snapshot Geographic Footprint
R$2.9bn R$6.4bn Net Revenues Mkt Cap (1)
R$6.6bn R$290m Net Debt Net Income
R$2.0bn 4.3 thousand EBITDA Employees
3,041 km of roads under concession Geographic footprint (2) (2) 346.6 million equivalent paying concentrates 2/3 of GDP Population vehicles in 2019 Brazilian GDP and 66.7% 63.3% more 1/2 of the Ecoporto located in Port of Santos, country’s population the largest in LatAm
Source: IBGE 2019 and Brazilian Ministry of Development, Industry and Foreign Trade Notes: (1) On 5th of November, 2020; (2) Considers the GDP and population of the states within the geographic footprint 3 Ecorodovias’ STRATEGY
Growth Capex Cost optimization discipline
Highway Concessions 4 Financial Performance Focus on Capex optimization underscores CAPEX financial discipline and pursuit of efficiency
Pró-forma CAPEX (R$ mllion) 9M Pró-forma CAPEX (R$ million)
1,296 938 897
888 938 583 773 538 624 430 792 859
428 493 361
69 109 91 105 79 9M16 9M17 9M18 9M19 9M20 2016 2017 2018 2019 9M20
Maintenance costs Intangible Assets
5 Financial performance 3Q20 Net Debt stable compared to the Indebtedness previous quarter and 3.3x of Net Debt/EBITDA.
Gross Debt by type Gross Debt by index Gross Debt Allocation (R$ million and % - Sep/20) (R$ million and % - Sep/20) (R$ million and % - Sep/20)
748 Avg. cost of debt 1,366 8% (Sep/20): 5.5% p.a. 1,555 1,254 15% 2,740 17% 14% 30% 138 2% 4,046 1,026 44% Debentures 11% 6,111 IPCA 67% BNDES 3,400 5,033 CDI 37% Promissory Notes 55% TJLP / TLP Others EcoRodovias Concessões e Serviços Net Debt¹/EBITDA2 3.3x 3.3x Concessões Rodoviárias (R$ million) Ecoporto Santos Holding
Net debt 6,725 6,849 Net debt/EBITDA Pro- forma¹ LTM 2Q20 3Q20
(1) Does not consider Obligations with Granting Power and Leases Payable (2) Exclude provisions for the Leniency Agreement, Agreements with Former Executives in 2019 and Civil Non-Persecution Agreement and Compensatory fines assumed in the Agreement with Former Executives. 6 Financial performance Readjustment of the debt amortization schedule with new Gross Debt funding from April to July 2020 Amortization Schedule
Gross Debt Amortization Schedule in Dec, 2019 (R$ million)
3,294 2,069 1,065 1,448 317 140 1,044 927 445 Cash 2020 2021 2022 2023 2024 2025 2026 2027 to 2038
Gross Debt Amortization Schedule in Sep, 2020 New Funding (R$ million) • Holding – R$1.2 billion (Apr/20) • Ecosul – R$250.0 million (Jun/20) • Ecoporto – R$65.0 million (Jun/20) • ECS – R$1.0 billion (Jul/20) 2,290 2,187 1,457 1,468 1,006 836 333 152 1,190
Cash 4Q20 2021 2022 2023 2024 2025 2026 2027 to 2043
7 Current Assets Highway Concessions
Diversified portfolio with duration of 10 years and 4 months without taking into consideration potential extensions. The achievements of Eco050, Eco135 and Ecovias do Cerrado lengthen Company’s duration to 15 years and 2 months (+4 years and 10 months) and 10 years and 1 month weighted by EBITDA.
Remaining duration ECORODOVIAS Km Expiry State (year/month)
Ecovias dos Imigrantes 177 Jun/26 5y 5m SP
Ecopistas 144 Jun/39 18y 6m SP
Ecovia Caminho do Mar 137 Nov/21 11m PR
Ecocataratas 387 Nov/21 11m PR
Ecosul 457 Mar/26 5y 3m RS
Eco101 476 May/38 17y 5m ES / BA
Ecoponte 26 May/45 24y 5m RJ
Eco050 437 Jan/44 23y 1m MG/GO
Eco135 364 Jun/48 27y 6m MG
Ecovias do Cerrado 437 Jan/50 29y 1m MG/GO
8 Current Assets Highway Concessions
% Pró-forma¹ EBITDA 2019 Traffic Mix - 2019² Highway Concessions – Total R$2.0 billlion
Eco050 3% Light Vehicles Heavy Vehicles Eco135 6%
Ecoponte 4% 29% 26% 20% 29% 39% 34% ECO101 4% 59% 50% 70% 86% Ecovias dos Imigrantes 38% 71% 74% 80% 71% Ecosul 12% 61% 66% 41% 50% 30% 14%
Ecocataratas Total
Ecosul
Eco135 Eco050
12% Eco101
Ecoponte
Ecopistas
Imigrantes Mar
Ecopistas dos Ecovias Ecocataratas 11% Ecovia Caminho do Mar
10% do Caminho Ecovia
(1) Excludes construction revenue and costs, provisions for maintenance | (2) Traffic in equivalent paying vehicles 9 Overview of Traffic Current figures according to Covid-19 environment
TRAFFIC VOLUME From Mar -16 to Jan- From Mar-18 to Chg. 2020 2019 Chg. (equivalent paying vehicles, thousand) 03, 2021 Jan-05, 20201
Heavy + Light
Ecovias dos Imigrantes 43,889 48,307 -9.1% 56,615 60,988 -7.2%
Ecopistas 56,215 69,943 -19.6% 73,415 87,456 -16.1%
Ecovia Caminho do Mar 13,548 12,959 4.5% 17,410 16,247 7.2%
Ecocataratas 19,623 21,510 -8.8% 25,733 26,968 -4.6%
Ecosul 19,983 21,929 -8.9% 24,669 26,412 -6.6%
Eco101 38,033 37,210 2.2% 47,875 46,989 1.9%
Ecoponte 18,918 23,604 -19.9% 24,667 29,389 -16.1%
Comparable Total2 210,209 235,463 -10.7% 270,384 294,449 -8.2%
Eco1353 26,739 25,739 3.9% 33,374 25,286 32.0%
Eco0504 37,275 35,800 4.1% 45,717 43,809 4.4%
Ecovias do Cerrado5 2,692 0 n.m. 2,597 0 n.m.
CONSOLIDATED TRAFFIC VOLUME 276,914 297,002 -6.8% 352,072 363,543 -3.2%
1) Traffic on the same days of the week was considered. 2) Excludes toll collection at Eco135, Eco050 and Ecovias do Cerrado. 3) Considers toll collection as from April 1, 2019. 4) For 2019, the concessionaire’s traffic prior to the acquisition of Ecorodovias was considered. 5) Considers the start of toll collection at toll plazas P1 in Uberlândia and P2 in Monte Alegre de Minas starting from 00:01 a.m. on November 14, 2020. Note: Equivalent paying vehicle is a basic unit of reference in toll collection statistics on the Brazilian market. Light vehicles, such as automobiles, correspond to an equivalent vehicle unit. Heavy vehicles such as trucks and buses are converted to equivalent vehicles by a multiplier applied to the number of axles per vehicle, as established in the terms of each concession agreement. The results are managerial and subject to review. 10 Covid-19 Preventive and mitigating measures Preventive and mitigating measures to minimize the impacts arising from the COVID-19 pandemic:
Creation of an internal committee to discuss the matter;
Adopting remote work for all employees who can perform their activities outside the company’s facilities;
Availability of hand sanitizers at all workstations, including in, toll booths;
Suspension of international travel and restriction on domestic travel;
Frequent monitoring of potential operational, financial, and regulatory impacts on our business; and
Regularly providing information and recommendations on the topic, and constantly monitoring for any changes and new guidance from officials in order to make any adaptation within our company.
11 Overview of Traffic Portfolio of Assets with Strong Dynamics Traffic Fundamentals Average of EcoRodovias’ adjusted traffic growth over 3.0% the past twelve years Ecorodovias’ traffic growth rate kept well above Brazil’s GDP growth Average of Brazil’s GDP growth over the past twelve years 1.6% Even in years of recession traffic showed resilience
Adjusted traffic x GDP growth relation over the past twelve years (xGDP) 1.9x
Adjusted Traffic Performance Compared to General Economic Performance (GDP)
12.0% The Company’s assets present strong recovery after sluggish economic activity
9.2% 6.1% 5.1% 7.6% 3.5% 4.0% 3.8% 1.7% 1.1% 0.7% 4.0% 2.7% 3.0% 1.9% -1.4% 1.3% 1.3% -0.1% 0.5% -3.3% 0.4%
-3.6% -6.2%
(1) (2) (2) (3) (3) (4) (5) (4) (5) (5) (5) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
EcoRodovia´s Traffic Growth Brazil´s GDP (real term growth)
Notes: (1) Ecocataratas not included (acquired in 2008); (2) Ecopistas not included (non operational in the beginning of 2009); (3) Eco101 not included, as operations started in 2014; (4) Ecoponte not included, as operations started in 2015; (5) Excludes tolls for suspended axles and the period from May 21 to June 3 during which traffic was affected by the truckers’ strike and toll collection at Eco135 and Eco050. 12 Overview 177 km Ecovias dos Imigrantes TRAFFIC MIX Light vehicles Heavy vehicles Ecovias is one of the most important highways in the 59% 41% State of São Paulo, connecting the metropolitan region to Santos Port, the largest in Latin America
Road Overview and Location
São Paulo
São Caetano do Sul
Santo André
Diadema São Bernardo do Campo
SP 150
Cubatão SP 160
SP 040 SP 55 Port São Paulo SP State Capital 59
SP Toll Plaza 55 Guarujá
São Paulo Police Station Santos Santos Port
Services Centers São Vicente Praia Grande 13 Financial Performance Effects from the truckers’ strike and the toll ECOVIAS DOS IMIGRANTES exemption for suspended axles affected EBITDA in 2019
Traffic Volume (million of vehicles¹) Pro-Forma Net Revenue² (R$ million)
-0.3% +1.4% -1.3% 63.7 -8.9% 60.7 61.2 61.0 864.0 966.8 942.3 955.2 44.8 40.8 692.7 684.0
2016 2017 2018 2019 9M19 9M20 2016 2017 2018 2019 9M19 9M20
Cash Cost (R$ million) EBITDA³ and EBITDA Margin, Pro-Forma³ (R$ million)
79.9% 81.6% 81.6% 81.7% 81.2% 78.8%
+0.4% +9.6% +10.4% -4.3% 789.3 769.1 780.4 173.3 177.7 175.7 176.5 131.5 145.2 690.7 562.7 538.7
2016 2017 2018 20194 9M194 9M204 2016 2017 2018 20194 9M194 9M204
¹ Equivalent paying vehicles | ² Excludes construction revenue | ³ Excludes construction revenue and costs, provisions for maintenance | 4 Considers IFRS 16 14 Overview 144 km Ecopistas TRAFFIC MIX Light vehicles Heavy vehicles One of the most important highways for the 70% 30% distribution of industrial production from Vale do Paraíba region
Road Overview and Location
Taubaté
Caçapava
SP 070 Jambeiro
São José dos Campos São Paulo Guararema Itaquaquecetuba Guarulhos Vale do Paraíba São Paulo Vale do Paraíba State Capital region
Toll Plaza
São Paulo Police Station
Services Centers 15 Financial Performance EBITDA growth in 2019 driven by higher traffic ECOPISTAS and tariff adjustment
Traffic Volume (million of vehicles¹) Pro-Forma Net Revenue² (R$ million)
+4.1% +8.6% -20.3% -17.9% 80.7 83.2 84.0 87.5 64.6 306.6 245.0 265.0 282.2 51.5 225.3 184.9
2016 2017 2018 2019 9M19 9M20 2016 2017 2018 2019 9M19 9M20
Cash Cost (R$ million) EBITDA³ and EBITDA Margin, Pro-Forma³ (R$ million)
67.4% 68.2% 70.6% 71.2% 71.4% 63.7%
+9.6% +6.7% +3.7% -26.8% 165.0 180.7 199.1 218.3 160.9 80.0 84.3 83.1 88.6 64.7 67.1 117.8
2016 2017 2018 20194 9M194 9M204 2016 2017 2018 20194 9M194 9M204
¹ Equivalent paying vehicles | ² Excludes construction revenue | ³ Excludes construction revenue and costs, provisions for maintenance | 4 Considers IFRS 16 16 Overview 137 km Ecovia Caminho do Mar TRAFFIC MIX Light vehicles Heavy vehicles Important highway connecting Curitiba to cities in 29% 71% the coast of the State of Paraná and to Paranaguá Port
Road Overview and Location
Curitiba
Paranaguá
São José dos Pinhais BR 277 Paranaguá Port
PR Port 407 PR 508 State Capital Paraná Toll Plaza
Police Station Curitiba
Services Centers Matinhos 17 Financial Performance Effects from the truckers’ strike and the toll ECOVIA CAMINHO DO MAR exemption for suspended axles affected EBITDA in 2019
Traffic Volume (million of vehicles¹) Pro-Forma Net Revenue² (R$ million)
-3.7% +10.8% 18.3 +4.0% 16.1 16.9 16.2 +13.8% 13.3 12.0 278.0 277.2 236.1 266.6 203.5 231.6
2016 2017 2018 2019 9M19 9M20 2016 2017 2018 2019 9M19 9M20
Cash Cost (R$ million) EBITDA³ and EBITDA Margin, Pro-Forma³ (R$ million)
75.1% 77.4% 76.1% 75.6% 75.6% 77.6%
+6.1% +4.5% +3.3% +16.8% 177.2 215.0 202.9 209.6 153.8 179.6 58.9 63.1 63.7 67.6 49.7 52.0
2016 2017 2018 20194 9M194 9M204 2016 2017 2018 20194 9M194 9M204
¹ Equivalent paying vehicles | ² Excludes construction revenue | ³ Excludes construction revenue and costs, provisions for maintenance | 4 Considers IFRS 16 18 Overview 387 km Ecocataratas TRAFFIC MIX Light vehicles Heavy vehicles One of the main highways connecting the interior of the 39% 61% State of Paraná with the tourist destinations of Foz do Iguaçu and the Tri-Border (Brazil, Argentina and Paraguay)
Road Overview and Location
Cascavel
BR 277 Céu Azul Laranjeiras do Sul
São Miguel do Iguaçu
Guarapuava
Foz do Iguaçu
Paraná Toll Plaza
Police Station Curitiba
Services Centers 19 Financial Performance Traffic increase and tariff adjustments offset the effects from the truckers' strike and the toll exemption for ECOCATARATAS suspended axles in 2019
Traffic Volume (million of vehicles¹) Pro-Forma Net Revenue² (R$ million)
+1.1% +8.6% -5.8% -4.5% 26.8 27.8 26.7 27.0 20.0 304.7 302.3 328.2 18.8 279.6 241.9 231.0
2016 2017 2018 2019 9M19 9M20 2016 2017 2018 2019 9M19 9M20
Cash Cost (R$ million) EBITDA³ and EBITDA Margin, Pro-Forma³ (R$ million)
72.4% 72.5% 73.2% 74.9% 74.8% 73.4%
+1.1% +0.8% +11.1% -6.2% 77.4 83.8 81.5 82.4 60.9 61.4 202.4 221.0 221.2 245.8 180.9 169.6
2016 2017 2018 20194 9M194 9M204 2016 2017 2018 20194 9M194 9M204
¹ Equivalent paying vehicles | ² Excludes construction revenue | ³ Excludes construction revenue and costs, provisions for maintenance | 4 Considers IFRS 16 20 Overview 457 km Ecosul TRAFFIC MIX Light vehicles Heavy vehicles Highways that connect the Pelotas Hub 26% 74% to the Port of Rio Grande
Road Overview and Location
Porto Alegre
Santana da Boa Vista Camaquã
BR Cristal 392 Canguçu
São Lourenço BR do Sul 116
Lagoa dos Pelotas Patos
Port Capão do Leão Rio Grande BR State Capital BR do Sul Porto 116 392 Alegre Arroio Rio Grande Toll Plaza Grande Mirim Lagoon Police Station
Services Centers Jaguarão Rio Grande Port 21 Financial Performance Tariff adjustment supports EBITDA ECOSUL growth in 2019
Traffic Volume (million of vehicles¹) Pro-Forma Net Revenue² (R$ million)
-0.2% +8.2% -4.0% -3.4% 25.9 26.4 26.5 26.4 285.4 309.0 19.7 18.9 236.1 264.8 230.6 222.9
2016 2017 2018 2019 9M19 9M20 2016 2017 2018 2019 9M19 9M20
Cash Cost (R$ million) EBITDA³ and EBITDA Margin, Pro-Forma³ (R$ million)
71.0% 72.6% 75.0% 76.9% 76.8% 75.6%
+11.0% +0.2% -4.8% +1.5% 167.6 192.2 214.0 237.6 177.0 168.5 68.5 72.6 71.4 71.5 53.6 54.4
2016 2017 2018 20194 9M194 9M204 2016 2017 2018 20194 9M194 9M204
¹ Equivalent paying vehicles | ² Excludes construction revenue | ³ Excludes construction revenue and costs, provisions for maintenance | 4 Considers IFRS 16 22 Overview 476 km Eco101 TRAFFIC MIX Light vehicles Heavy vehicles The highway crosses 25 cities and reaches five major 34% 66% ports: Vitória, Tubarão, Açu, Ilhéus and Barra do Riacho
Road Overview and Location
Ilhéus Port Mucuri Fronteira entre os estados da BA e ES
São Mateus
Vitória Port Port Linhares State Capital
Toll Plaza Barra do Police Station Riacho Port BR Services Centers 101 Vitória
Guarapari Tubarão Espírito Port Vitória Cachoeiro do Itapemirim Santo
Border between State Açu Port of ES and State of RJ 23 Financial Performance Tariff reduction impacted financial ECO101 performance in 2019
Traffic Volume (million of vehicles¹) Pro-Forma Net Revenue² (R$ million)
+0.0% -2.4% 46.2 46.5 47.0 47.0 -5.8% 35.0 34.2 -13.4% 167.9 184.4 190.6 179.6 137.8 119.4
2016 2017 2018 2019 9M19 9M20 2016 2017 2018 2019 9M19 9M20
Cash Cost (R$ million) EBITDA³ and EBITDA Margin, Pro-Forma³ (R$ million)
43.2% 48.9% 49.6% 45.9% 48.3% 48.9%
+1.4% -14.6% -12.8% -12.3% 95.4 94.2 96.1 97.4 71.4 61.0 72.5 90.2 94.6 82.4 66.6 58.4
2016 2017 2018 20194 9M194 9M204 2016 2017 2018 20194 9M194 9M204
¹ Equivalent paying vehicles | ² Excludes construction revenue | ³ Excludes construction revenue and costs, provisions for maintenance | 4 Considers IFRS 16 24 Overview 26 km Ecoponte TRAFFIC MIX Light vehicles Heavy vehicles The largest bridge in the Southern Hemisphere, is 86% 14% also the main connection between Rio de Janeiro City, Niterói and the countryside of the state
Road Overview and Location
BR 101
Ecoponte Niterói
Rio de Janeiro Rio de Janeiro Port
Port
State Capital Rio de Janeiro Rio de Janeiro Toll Plaza
Police Station 25 Financial Performance Reduction of ancillary revenue ECOPONTE impacted financial performance in 2019
Traffic Volume (million of vehicles¹) Pro-Forma Net Revenue² (R$ million)
-0.2% -19.5% 30.0 29.5 29.4 28.8 -2.4% 21.9 17.6 -18.4% 104.5 118.3 125.3 122.3 91.0 74.2
2016 2017 2018 2019 9M19 9M20 2016 2017 2018 2019 9M19 9M20
Cash Cost (R$ million) EBITDA³ and EBITDA Margin, Pro-Forma³ (R$ million)
58.7% 64.1% 66.1% 65.9% 66.7% 56.8%
-1.7% +5.9% -2.6% -30.5% 43.1 42.5 42.5 41.8 30.3 32.1 61.4 75.8 82.8 80.6 60.7 42.1
2016 2017 2018 20194 9M194 9M204 2016 2017 2018 20194 9M194 9M204
¹ Equivalent paying vehicles | ² Excludes construction revenue | ³ Excludes construction revenue and costs, provisions for maintenance | 4 Considers IFRS 16 26 Overview 437 km Eco050 TRAFFIC MIX Light vehicles Heavy vehicles The concession straddles between Cristalina 29% 71% (GO) and Delta (MG) through 436.6 Km, passing through the important region of the Triângulo Mineiro. Road Overview and Location
Cristalina, GO • 3rd largest Agricultural GDP of Goiás; • 8th largest Agricultural GDP do Brasil; • Production of grains: soybeans, corn and beans as well as potatoes, onions Goiás and garlic. Minas
Campo Alegre Gerais de Goiás
BR 050 Financial Performance 2019 Triângulo Araguari Agricultural production: Mineiro soybean, corn, coffee and others. Traffic Volume (million of vehicles) 26.9 Uberlândia Industrial production: food and beverages. Pro-Forma Net Revenue (R$ million) 126.0 Cash Cost (R$ million) 55.9
Toll Plaza Uberaba Industrial production: Pro-Forma EBITDA (R$million) 70.3 fertilizers Pro-Forma EBITDA Margin 55.8% Services Centers Delta, MG 27 Overview 364 km Eco135 TRAFFIC MIX Light vehicles Heavy vehicles The highway is one of the main interconnection 20% 80% routes between the northeast and southeast/south of the country, major grain corridor in the country. Road Overview and Location
Montes Claros • 7th largest GDP of Minas Gerais; • Industrial production: food, Bocaiúva biotechnology, cement and textile.
Minas
BR Gerais 135 Corinto Aerial view of highway Financial Performance 2019 Curvelo Traffic Volume (million of vehicles) 25.3 Eco135 Cordisburgo started toll Pro-Forma Net Revenue (R$ million) 168.4 collection at its six toll Cash Cost (R$ million) 48.9 Toll Plaza plazas on April 1st, Pro-Forma EBITDA (R$million) 119.5 2019 Services Centers 118 Km Pro-Forma EBITDA Margin 71.0% Belo Horizonte 28 Overview 437 km Ecovias do Cerrado (BR-364/365) TRAFFIC MIX Light vehicles Heavy vehicles The highway is one of the main interconnection roads 22% 78% between the Midwest and the state of São Paulo, connecting Jataí (GO) to Uberlândia (MG) with 437.0 km.
Road Overview and Location
Jataí (GO) • 2nd largest Agricultural GDP of Goiás; • 7th largest Agricultural GDP of Brasil; • Soy, corn and milk production. Goiás Aparecida do Minas Rio Doce Gerais
Cachoeira Alta Eco050 BR 364 Canápolis
Paranaiguara Uberlândia São Simão Monte Alegre BR Santa Gurinhatã Ituiutaba de Minas Industrial production: 365 Vitória (MG) food and beverage
Toll Plaza
29 Ecoporto
Ecoporto Santos
Quay Length: 703 meters
Handling Capacity: 524,000 containers/year
Warehousing Capacity: 135,000 containers/year
Total Area: 175,000 m²
30 Current Portfolio Friendly environment to discussion Negotiation of Imbalances with the regulator to discussion with and Potential Amendments the regulator and new investments
Current contract status
May/18 Mar/24 Oct/25 Jun/26 Original Term TAM 2006 Amendment¹ Amendment¹ Cubatão Stretch Binário 1 Imbalances under discussion
May/18 Mar/24 Depreciation Suspended IGPM x Amendment¹ Amendment¹ Original Term TAM 2006 Axles IPCA Cubatão Stretch Binário 1
New opportunities 2nd New bridge that connects Phase the right and left banks of the Santos Port
(1) Marginal Cash Flow Metodology 31 Competitiveness Ecorodovias is consistently looking into Ecorodovias’ Participation in new investment opportunities that allow Previous Bidding Processes the company to sustainably grow
PARTICIPATION IN PUBLIC BIDDING PROCESSES Infrastructure Assets Granting authority Bidding Year Ecorodovias’ Position Rodovia Ayrton Senna ARTESP 2009 1st Place Rodoanel Sul-Leste ARTESP 2010 3rd Place BR-101/ES/BA ANTT 2012 1st Place BR-050/GO/MG ANTT 2013 3rd Place BR-163/MT ANTT 2013 6th Place BR-060/153/262/DF/GO/MG ANTT 2013 3rd Place BR-163/262/267/MS ANTT 2013 2nd Place BR-040/MG ANTT 2013 2nd Place BR-153/TO/GO ANTT 2014 2nd Place Tamoios ARTESP 2014 2nd Place Contorno de BH SETOP 2014 1st Place Ponte Rio Niterói ANTT 2015 1st Place Centro Oeste Paulista ARTESP 2017 2nd Place Rodovia dos Calçados ARTESP 2017 2nd Place Rodoanel Norte ARTESP 2018 1st Place BR-135 SETOP 2018 1st Place RIS ANTT 2018 3rd Place BR-364/365 ANTT 2019 1st Place Centrovias (Piracicaba-Panorama) ARTESP 2020 2nd Place BR-101/SC ANTT 2020 2nd Place 32 Growth Opportunities Federal Government highway concession program
Concessões das Rodovias Integradas do BR-153/080/414GO/TO 1 6 Paraná (divided in 8 highway concessions) Concession tenor: 35 years Concession tenor: 30 years Stretch: 851 km Stretch: 3,800 km Capex: R$7.8 billion Capex: R$42.0 billion Expected Auction Date: 2Q 2021 Expected Auction Date: 4Q 2021 2 Highway concessions under 9 studies for re- 2 BR-163/230/MT/PA 7 BR-153/282/470/SC and SC-412 auction 9 1 Concession tenor: 10 years Concession tenor: 35 years Stretch: 970 km Stretch: 502 km Capex: R$1.9 billion Capex: R$8.0 billion Expected Auction Date: 2Q 2021 Expected Auction Date: 4Q 2021
Rodovia BR-116/RJ/SP (Dutra) – Rodovia BR-040/MG/RJ – Juiz de 3 Rio de Janeiro to São Paulo 8 Fora to Rio de Janeiro (Concer) 10 Concession tenor: 30 years Concession tenor: 30 years 4 Stretch: 627 km Stretch: 211 km Capex: R$15.0 billion Capex: R$3.1 billion Expected Auction Date: 3Q 2021 Expected Auction Date: 1Q 2022 8 4 BR-381/262/MG/ES 9 BR-364/MT/RO 5 Concession tenor: 30 years Concession tenor: 30 years Stretch: 672 km Stretch: 806 km Capex: R$7.7 billion Capex: R$8.0 billion 3 Expected Auction Date: 2Q 2021 Expected Auction Date: 3Q 2022 6
Rodovia BR-116/493RJ – Além 5 10 BR-364/060/452//MT/GO Paraíba to BR-040 (CRT) 7 Concession tenor: 30 years Concession tenor: 30 years Stretch: 711 km Stretch: 917 km Capex: R$8.9 billion Capex: n.a. Expected Auction Date: 4Q 2021 Expected Auction Date: 3Q 2022
Source: PPI (website), Ministry of Infrastructure (website), ANTT (website), IFC (virtual data room for public hearings) 33 Growth Opportunities State Governments highway concession programs
Itapecerica – Lagoa da Prata 1 Rodovias Litoral Paulista 6 (BR-494, MG-260, MG-164, MG- 429, BR-352, BR-354, MG-170) Concession Program of Concession tenor: 30 years Minas Gerais Stretch: 222 km Stretch: 680 km MG Capex: R$3.0 billion Expected Auction Date: 1Q 2022 Expected Auction Date: 2Q 2021 3,250 km
2 Triângulo Mineiro (BR-364, BR-452, 7 Ouro Preto (BR-356, CMG-120, 2 6 BR-365, BR-146, BR-187, CMG-452, MG-329, MG-262, LMG-813) CMG-462, LMG-782, LMG-798)
Stretch: 792 km Stretch: 278 km 7 Expected Auction Date: 4Q 2021 Expected Auction Date: 1Q 2022 4 SP 5 Pouso Alegre – Itajubá (BR-383, BR- 3 459, CMG-146, LMG-877, MG-173, 3 MG-290, MG-295, MG-455, MG-459)
Stretch: 549 km 1 Expected Auction Date: 4Q 2022
Varginha – Furnas (CMG-369, 4 CMG-491, LMG-863, MG-167, BR-146, BR-265)
Stretch: 438 km SC Expected Auction Date: 1Q 2022 RS São João Del-Rei (CMG-383, 5 AMG-900, MG-155, MG-275, MG- 332, BR-265, BR-494)
Stretch: 487 km Expected Auction Date: 1Q 2022
Sources: ARTESP (website), IFC (virtual data room for public hearings), Program of Minas Gerais (SETOP & Secretary of Infrastructure – website), BNDES 34 Growth Opportunities Highway concessions with expiry until 2025
In 2019, the gross toll revenue from concessions with expiry until 2025 was R$2.2 billion
CONTROLLING Granting Gross toll revenue Concession Expiry GROUP authority (R$ million)
AB Concessões Triângulo do Sol Artesp Jul/21 540
CCR Renovias Artesp Jun/22 465
CCR Viaoeste Artesp Dec/22 1.025
Coimex (38%), Tervap-Pitanga (38%) Rodosol Arsi Dec/23 1 and others (24%) 63
TORC (50%) / Empresa Tebe Artesp Feb/25 Construtora Brasil (50%) 88
(1) Considers gross toll revenue in 2018. Data not available to date. 35 Stock Perfomance
Performance Average daily volume since IPO¹ (R$ million)
128% +289% 117% 57.6
37.6 69% 28.9 31.1 25.7 14.8
Ibovespa Ibrx-100 Ecor3 2015 2016 2017 2018 2019 2020²
Indexes
¹ From 04/01/2010 to 12/30/2020, adjusted for dividends | ² Until 12/30/2020 36 Sustainability and Social Responsibility Initiatives
The Ecorodovias Group reaffirms its commitment to sustainable development, and has established the guidelines for including social and environmental aspects in business. EcoRodovias invests in several socio-environmental projects listed below:
ECOVIVER DE BEM COM A VIA SEEDING NURSERY
Educational and artistic project Project to reduce accidents Environmental preservation and aimed at disseminating and involving children living in social responsibility project aimed raising environmental regions around the highways. at planting native species in the awareness among communities region, executed by employees with and elementary school students Till 2019, the project had intellectual disabilities. benefited about 80 public Results: 2,700 public schools; schools and more than 97,000 Seedlings are planted along 12,000 teachers and 320,000 children. highways to protect the slopes and students in 5 Brazilian states also on the median strips of highways. from 2006 to 2019
37 Sustainability and Social Responsibility Initiatives
Ecorodovias Group contributes to the development of society, striving to transform the reality of its stakeholders. EcoRodovias invests in several socio-environmental projects listed below:
NA MÃO CERTA ECOLOGIAL FOR AN ACCIDENT- PROGRAM ASPHALT FREE HIGHWAY
The Ecorodovias Group has Production of asphalt from The Company is a signatory to the been participating in the Na Mão recycled rubber derived from "Decade of Action for Road Certa Program since 2014 and the remains of used tires. Safety", a campaign launched by for the 6th time in a row. the UN in 2011. The Group was honored at the In support of the initiative, whose 13th Annual Meeting of the Na key challenge is to reduce accidents Mão Certa program, which around the world by 50%, recognizes the performance of EcoRodovias has launched the signatories to the Business “For Roads without Accidents” Pact against the Sexual campaign to raise awareness Exploitation of Children and about safer traffic among users Teens on Brazilian Highways. of highways managed by it.
38 Awards & Recognition Ecorodovias Group is committed to implementing initiatives that contribute to sustainable development, ensuring business perpetuity in the long run, contributing to a more just, economically viable and environmentally correct society through structured programs related to Sustainability. Thanks to its achievements over time, Ecorodovias has been included in diverse indices and won awards, and reiterates its sustainable commitment to its stakeholders, shareholders and the environment.
39 Awards & Recognition
2011 - 2019 2010 - 2019 2010 - 2019 2016 - 2019 Included in the Outstanding Control of Among the 10 finalists at Corporate company in emissions Abrasca Awards Sustainability Index Sustainability - Scope 1,2 and 3 in the Public Company (ISE) of B3 for the Exame Magazine since 2011 (Gold Category, for best annual 9th straight year Guide in 2016, 2017 category) reports. and 2019
2018 & 2019 2012 - 2019 2014 - 2019 2012 - 2019 Época Negócios 360º Capacitar Recognized for Governance Award - Ecorodovias Project featured initiatives to about climate Group won the award in Exame combat child change for the best Sustainability sexual exploitation since 2012 Infrastructure company. Guide on highways
2019 2014 - 2019 SESI ODS Award EcoRodovias has Ecocataratas was been a signatory to the awarded for initiatives UN Global Pact since related to climate 2014 and honors the change and Ecovia 10 principles for monitoring wild animals
40 Disclaimer
This presentation contains forward-looking statements related to the business outlook, estimates of operating and financial results and the growth prospects for Ecorodovias. These are merely projections and, as such, are based exclusively on the expectations of Ecorodovias’ management regarding the future of the business and its continuous access to capital for financing the Company’s business plan. Such forward-looking statements depend substantially on changes in market conditions, government rules, pressure from competitors, the performance of both the industry and the Brazilian economy, among other factors, in addition to the risks mentioned in disclosure documents filed by Ecorodovias and, hence, are subject to change without prior notice.
Relações com investidores
E-mail Address [email protected] Rua Gomes de Carvalho, 1.510 3° andar São Paulo – SP - Brasil Website Telephone www.ecorodovias.com.br/ri +55 11 3787-2683 +55 11 3787-2612 +55 11 3787-2674 +55 11 3787-2681 41 Corporate Structure Corporate Structure with synergies capture and improvement of Corporate Governance
Nicolò Caffo Marcello Guidotti Marcelo Lucon General Manager CFO/IRO¹ Chief Legal Officer
Federal State Concessionaries Concessionaries
Financial / Risks / Legal Engineering Planning / IR
Comtroller / Toll Collection Technology
Human Supply Chain Resources
PMO
Centralized Functions Highway Concessions
Source: Company ¹ CFO holds the position of Executive Director of Human Resources 42 Corporate Governance & Executive Management
Board of Director Risks, Governance and Novo Mercado Board Members Fiscal Council Committees Compliance
CORPORATE EcoRodovias is listed 33% of directors are Fiscal council 3 Statutory Committees, Corporate programs GOVERNANCE on the Novo Mercado, independent created in 2018 each coordinated by an involving governance, the listing segment (3 of the 9 members) Independent Director: risks and compliance: Audit of B3 with the and enjoy excellent People Management highest standards of reputations in the & Governance Risk Management corporate market Investments, Corporate governance Financial & Risks Program 3 Non-Statutory Anti-corruption Committees: Corporate Ethics Program Sustainability Diversity
Nicolò Caffo Marcello Guidotti Marcelo Lucon General Manager CFO and IRO Chief Legal Officer
BACKGROUND Graduated in Civil Engineering from the Graduated in Economics from the Universitá Law degree from the Universidade de São University of Bologna and a master’s degree degli Studi di Bologna and Executive MBA Paulo (USP), Masters of Laws from USP and in Business Administration from the MIT. from Insper and completed the Executive LL.M. from London University. Over the past Over the past six years, he served as regional Program at Stanford University. Previously, six years, he has served as Legal Manager and manager for Atlantia, responsible for the served in executive and financial positions on Officer and on the boards of Directors and of company‘s business in the US and Poland, and several infrastructure and concession projects in Auditors at companies of the Camargo Correa as technological business development Latin America. In 2002, he became CFO and IRO Group. He was an alternate member of the manager for Atlantia. Previously, he worked at of Ecosul S.A. Has served as CFO of Board of Auditors at Alpargatas S/A. Currently, companies such as McKinsey & Company, EcoRodovias since 2002 and as IRO since May he is Chief Legal Officer of EcoRodovias Bank of America Securities and Matildi General 2012. Infraestrutura e Logística. Engineering (MGE) 43 Board of Directors Experienced and active
GAVIO/ ARDIAN CR ALMEIDA Beniamino Gavio Marco Antônio Cassou
Alberto Rubegni João Alberto Bernacchio
Juan Angoitia Grijalba Cesar Beltrão de Almeida
INDEPENDENT MEMBERS Jorge Alberto Eduardo Fergie Corser
Sonia Julia Sulzbeck Villalobos
Ricardo Bisordi de Oliveira Lima
44