Ecorodovias Institucional Presentation 2020 Corporate Structure IGLI S.p.A. ON: 50.0% ON: 50.0% PN: 100.0% PN: - Total: 69.1% Total: 30.9% Primav Infraestrutura S.A. Free Float 63.99% 31.02% 4.99% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Ecorodovias | 2 Overview of Ecorodovias| Geographic Footprint Ecorodovias portfolio includes 11 highway concessions with total of 3,088 km and one port asset (Ecoporto) in 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$2.0bn R$290m Net Revenues EBITDA Net Income R$6.6bn R$8.1bn 4.3 Thousand Net Debt Mkt Cap¹ employees Geographic footprint concentrates 2/3 of Brazilian GDP and more 1/2 of the country’s population • 3,088 km of roads under concession • 346.6 million equivalent paying vehicles in 2019 • Ecoporto located in Port of Santos, the largest in LatAm 66.7% 63.3% GDP (2) Population (2) Source: IBGE 2019 and Brazilian Ministry of Development, Industry and Foreign Trade Notes: (1) On July 31st, 2020 (2) Considers the GDP and population of the states within the geographic footprint Ecorodovias | 3 Ecorodovias’ Strategy $ Cost discipline Capex optimization Growth ✓ Ramp up of new projects ✓ Contractual amendments ✓ Bids Highway Concessions EcorodoviasEcorodovias| |4 4 Financial Performance | CAPEX Focus on Capex optimization underscores financial discipline and pursuit of efficiency. Pro-Forma CAPEX (R$ million) CAPEX Pró-forma 1H (R$ million) 568 590 1,296 364 311 888 509 537 773 231 624 590 252 319 189 42 59 45 59 52 2016 2017 2018 2019 1H20 1H16 1H17 1H18 1H19 1H20 Intangible Assets Maintenance costs Ecorodovias | 5 Financial performance | Gross Debt Amortization Schedule Readjustment of the debt amortization schedule with new funding from April to July 2020 4Q19 Debt Amortization Schedule (R$ million) 3,294 2,069 1,448 927 1,065 317 1,044 445 140 Cash 2020 2021 2022 2023 2024 2025 2026 2027 to 2038 New funding • Holding – R$1.2 billion (Apr, 2020) • Ecosul – R$250.0 million (Jun, 2020) • Ecoporto – R$65.0 million (Jun, 2020) • ECS – R$1.0 billion (Jul, 2020) 2Q20 Debt Amortization Schedule (R$ million) 2,582 2,181 1,257 1,338 1,452 1,458 326 148 1,145 Cash 2H20 2021 2022 2023 2024 2025 2026 2027 to 2043 1) It takes into account the ECS funding of R$ 1.0 billion borrowed in Jul, 2020 in the cash and the amortization in 2023. Ecorodovias | 6 Financial performance | Indebtedness 2Q20 Net Debt stable compared to the previous quarter and 3.3x of Net Debt/EBITDA. Gross Debt by type (R$ million and % - Jun/20) Gross Debt by index (R$ million and % - Jun/20) 738 9% 1,314 16% 1,232 Avg. cost of debt 15% (Jun/20): 4.5% p.a. 2,708 33% 987 12% 5,350 64% 4,284 51% Debentures BNDES Promissory Notes Others IPCA CDI TJLP/TLP Net Debt¹/EBITDA2 (R$ million) Gross Debt Allocation (R$ million) EcoRodovias Concessões e Serviços 3.1x 3.3x Highway Concessions Ecoporto Santos 1,532 18% Holding 3,003 206 36% 3% 6,682 6,725 1Q20 2Q20 3,567 Net debt Net debt/EBITDA Pro-forma¹ LTM 43% 1) Does not consider Obligations with Granting Power and Leases Payable 2) Excludes Construction Revenue and Costs and Provision for Maintenance. Exclude provisions for the Leniency Agreement and Agreements with Former Ecorodovias | 7 Executives in 2019 and impacts of the Civil Non-Pursuit Agreement. Current Assets| Highway Concessions Diversified portfolio with duration of 10 years and 8 months without taking into consideration potential extensions. The achievements of the Ecorodoanel, Eco050, Eco135 and Ecovias do Cerrado lengthen Company’s duration to 16 years and 10 months (+6 years and 2 months) and 11 years and 8 month weighted by EBITDA. Remaining duration EcoRodovias Stake (%) km Expiry (year/month) State Ecovias dos Imigrantes 100 177 Jun-26 5y 9m SP Ecopistas 100 144 Jun-39 18y 9m SP Ecovia Caminho do Mar 100 137 Nov-21 1y 2m PR Ecocataratas 100 387 Nov-21 1y 2m PR Ecosul 100 457 Mar-26 5y 6m RS Eco101 100 476 May-38 17y 8m ES / BA Ecoponte 100 23 May-45 24y 9m RJ Ecorodoanel¹ 100 48 Dec-50¹ 30y 0m SP Eco050 100 437 Jan-44 23y 4m MG/GO Eco135 100 364 Jun-48 27y 10m MG Ecovias do Cerrado 100 437 Jan-50 29y 4m MG/GO Total 16y 10m ¹ Expiry date subject to review based on the date the asset will be assumed Ecorodovias | 8 Current Assets| Highway Concessions Highway Concessions 38% 11% 10% 12% 12% 4% 4% 6% 3% %Pro-forma EBITDA 2019 100% Highway Concessions Traffic(1) 61 87 16 27 26 47 29 25 27 347 (# million) Pro-forma Net Revenue 955 307 277 328 309 180 122 168 126 2.772 2019(2) (R$ million) Pro-forma EBITDA 780 218 210 246 238 82 81 120 70 2.044 2019(3) (R$ million) Pro-forma EBITDA 82% 71% 76% 75% 77% 46% 66% 71% 56% 74% Margin 2018 (3) 41% 30% 29% 39% 26% 34% 14% 20% 29% 50% Traffic Mix(1) 2019 59% 70% 71% 61% 74% 66% 86% 80% 71% 50% Heavy Vehicles Light Vehicles ¹ Traffic in equivalent paying vehicles ² Excludes construction revenue and considers IFRS 15 ³ Excludes construction revenue and costs, provisions for maintenance Ecorodovias | 9 Overview of Traffic | Current figures according to Covid-19 environment TRAFFIC VOLUME From Mar-16 to From Mar-18 to Chg. 20202 20192 Chg. (equivalent paying vehicles, thousand) Aug-30, 2020 Sep-01, 20191 Heavy + Light Ecovias dos Imigrantes 22,339 26,451 -15.5% 35,443 39,766 -10.9% Ecopistas 26,657 39,093 -31.8% 44,428 57,480 -22.7% Ecovia Caminho do Mar 7,738 7,243 6.8% 11,709 10,714 9.3% Ecocataratas 10,344 12,058 -14.2% 16,619 17,796 -6.6% Ecosul 12,126 12,753 -4.9% 16,934 17,381 -2.6% Eco101 19,570 21,005 -6.8% 29,671 31,202 -4.9% Ecoponte 9,383 13,424 -30.1% 15,269 19,396 -21.3% Comparable Total3 108,156 132,027 -18.1% 170,074 193,734 -12.2% Eco1354 13,713 13,700 0.1% 20,607 13,510 52.5% Eco0505 20,460 20,026 2.2% 29,144 28,278 3.1% CONSOLIDATED TRAFFIC VOLUME 142,329 165,753 -14.1% 219,825 235,522 -6.7% 1) For 2019, traffic on the same days of the week was considered. 2) Includes toll collection up to August 30, inclusive. 3) Excludes toll collection at Eco135 and Eco050. 4) Considers toll collection as from April 1, 2019. 5) For 2019, the concessionaire’s traffic prior to the acquisition of Ecorodovias was considered 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. Ecorodovias | 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. Ecorodovias | 11 Overview of Traffic Dynamics| Portfolio of Assets with Strong Traffic Fundamentals Ecorodovias’ traffic growth rate kept well above Brazil’s GDP growth Even in years of recession traffic showed resilience Adjusted Traffic Performance Compared to General Economic Performance (GDP) 12.0% Average of EcoRodovias’ adjusted traffic growth over the past twelve years 3.0% The Company’s assets present 9.2% Average of Brazil’s GDP growth over the past twelve strong recovery after sluggish years 1.6% economic activity Adjusted traffic x GDP growth relation over the past twelve years 1.9x 6.1% (xGDP) 5.1% 7.6% 4.0% 3.5% 3.8% 4.0% 1.7% 3.0% 2.7% 0.7% 1.1% 1.9% 1.3% 1.3% 0.5% -1.4% 0.4% -0.1% -3.3% -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. Ecorodovias | 12 Overview | Ecovias dos Imigrantes Ecovias is one of the most important highways in the 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 SP Cubatão 160 SP SP 040 55 Port SP 59 São Paulo State Capital SP Guarujá 55 Toll Plaza Santos São Paulo Police Station Santos Port São Vicente Services Centers Praia Grande Traffic mix: 59% Light vehicles 41% Heavy vehicles Ecorodovias | 13 FinancialDESTAQUES Performance FINANCEIROS | Ecovias dos Imigrantes EMISSORA Effects from the truckers’ strike and the toll exemption for suspended axles affected EBITDA in 2019 Traffic Volume (million of vehicles¹) Pro-Forma Net Revenue² (R$ million) 60.7 63.7 61.2 61.0 966.8 942.3 955.2 864.0 30.0 26.1 457.8 437.6 2016 2017 2018 2019 1H19 1H20 2016 2017 2018 2019 1H19 1H20