Ecorodovias Infraestrutura e Logistica S A : Institutional Presentation - January 2022

PresentationInstitucional 2022

1

Corporate Structure

51.2%			48.8%1

100%

		100%
65%	Holding	2
		do Araguaia

100%

100%

(1)	Includes Primav Infraestrutura's stake.	2
(2)	GLPx Participações' stake (35%).

Leverage

Follow on of R$1.7 billion

Low Level of Leverage

(1)	)	(R$mm)
Leverage Analysis (Net Debt/ Adjusted EBITDA

7,325

6,907

5,867

3.1

3.3

2.6

1Q21

2Q21

3Q21

Drivers of growth

Follow on reduced the Company's leverage, making room for new financing

Re-bidding highways have cash generation in D+0, improving company leverage

Partnerships in new concessions reduce the need for equity in future projects

Adequate dividend distribution for equity allocation in new projects

(1) Exclude Construction Revenue and Costs, Provision for Maintenance and Civil Non-Prosecution Agreement (2Q20/1H20), compensatory fines assumed in the Agreements with Former Executives (3Q20), the	3
booking of a liability at Eco101 (4Q20), Leniency Agreement and Agreements with Former Executives (4Q20) and the impairment (non-cash) at Ecoporto Santos (4Q20).

Overview of Ecorodovias

Geographic Footprint

2020 Snapshot

Ecorodovias portfolio includes 9 highway concessions with

total of 3,368 km and one port asset (Ecoporto) in eight different states of Brazil, located in the main trade corridors

Geographic Footprint

	R$7.5bn
R$3.0bn	Mkt Cap(2)
Net Revenues(1)	R$331.9m
R$6.9bn	Recurring
Net Income(3)

Net Debt

4.8 thousand

R$2.0bn

Employees

Adjusted EBITDA(4)

20+ years

Portfolio Duration

3,368 km of roads under concession

352.0 million equivalent paying vehicles in 2020

Ecoporto located in Port of Santos, the largest in LatAm

	Geographic footprint
	GDP (5)		Population (5)
	concentrates 2/3 of
		66.7%		63.3%
	Brazilian GDP and
	more 1/2 of the
	country's population

Source: IBGE 2019 and Brazilian Ministry of Development, Industry and Foreign Trade

Notes: (1) Excludes Construction Revenue. (2) In 12/30/2020. (3) Excludes the inflation adjustment on the Leniency Agreement and Agreements with Former Executives, Civil Non-Prosecution Agreement, compensatory fines, the booking of a liability at Eco101 and impairment (non-cash) at Ecoporto Santos. (4) Exclude Construction Revenue and Costs, Provision for Maintenance, Leniency Agreement and Agreements

with Former Executives (3Q19, 4Q19 and 4Q20), Civil Non-Prosecution Agreement (2Q20), Compensatory fines assumed in the Agreements with Former Executives (3Q20), the booking of a liability at Eco1014 (4Q20) and impairment (non-cash) at Ecoporto Santos (4Q20). (5) Considers the GDP and population of the states within the geographic footprint

Our Key Strengths

Will Drive our Macro Strategy

INVESTMENT

HIGHLIGHTS

Premium Toll Roads Platform with Proven Expertise and Track-Record

Solid Capacity to Add New Projects to Current Platform

Cycle of Business De-risking is Complete

ESG as a Core Pillar of the Company, Guiding its Strategy

MACRO

STRATEGY

Focus on the Brazilian Toll Road Market Given Solid Sector Expertise, Large Pipeline and Increasing Returns

Consistent & Accelerated Growth, Maintaining Adequate Return Rates

Long-term, Sustainable and Resilient

Cash Flows Through New Contracts

and Amendments

Strong Culture of Innovation with the Use of State-of-the-art Technology

Seek highly qualified people for the best decisions through the development
of competent, diverse, engaged and trained employees	5