Earnings Results 2Q16 August, 2016

2

Disclaimer

This presentation may contain certain forward-looking projections and trends that neither

represent realized financial results nor historical information.

These forward-looking projections and trends are subject to risk and uncertainty, and

future results may differ materially from the projections. Many of these risks and

uncertainties are related to factors that are beyond CCR’s ability to control or to estimate,

such as market conditions, currency swings, the behavior of other market participants, the

actions of regulatory agencies, the ability of the company to continue to obtain financing,

changes in the political and social context in which CCR operates or economic trends or

conditions, including changes in the rate of inflation and changes in consumer confidence

on a global, national or regional scale.

Readers are advised not to fully trust these projections and trends. CCR is not obliged to

publish any revision of these projections and trends that should reflect new events or

circumstances after the realization of this presentation.

TRAFFIC:

Consolidated proforma traffic¹, excluding Ponte and MSVia, decreased 3.7% in 2Q16.

ADJUSTED EBITDA:

Proforma adjusted EBITDA in the same basis2 increased 5.9%, with margin of 63.3% (+1.9 p.p.).

NET PROFIT:

Net profit in the same basis2 reached R$ 147.8 million, a 36.8% decrease in 2Q16.

INDEBTNESS:

Issuances totalizing R$ 4.0 billion with extension of debt profile.

CORPORATIVE HIGHLIGHT:

Signature of the Private Instrument of Agreement of Purchase and Sale for the purchase of

additional participation in ViaRio and binding proposal for the increase of participation in ViaQuatro,

according to the Material Facts of 06/30/16.

3

2Q16 Highlights

1 Including the proportional traffic of Renovias. 2 Same-basis figures exclude: (ii) new businesses, either non-operating, under assisted operation, or which were not included in the portfolio during at least one of the

comparison periods: Metrô Bahia, MSVia and TAS; (ii) Ponte, whose agreement ended on May 31, 2015; and (iii) additionally, in profit in the same comparison basis

and in same-basis pro-forma comparisons, it excludes Controlar, ViaRio and VLT.

1- Net revenue excludes construction revenue.

2- Same-basis figures exclude: (ii) new businesses, either non-operating, under assisted operation, or which were not included in the portfolio during at least one of

the comparison periods: Metrô Bahia, MSVia and TAS; (ii) Ponte, whose agreement ended on May 31, 2015; and (iii) additionally, in profit in the same comparison

basis and in same-basis pro-forma comparisons, it excludes Controlar, ViaRio and VLT.

3- Calculated by adding net revenue, construction revenue, costs of services and administrative expenses

4- The adjusted EBIT and EBITDA margins were calculated by dividing EBIT and EBITDA by net revenue, excluding construction revenue, as required by IFRS.

5- Calculated excluding non-cash expenses: depreciation and amortization, the provision for maintenance and the recognition of prepaid concession expenses.

4

Financial Highlights – 2Q16

Net Revenues1 1,424.4 1,599.6 12.3% 1,657.3 1,865.8 12.6%

Adjusted Net Revenues on the same basis2 1,389.6 1,414.8 1.8% 1,620.3 1,665.2 2.8%

Adjusted EBIT3 583.0 634.7 8.9% 682.1 738.5 8.3%

Adjusted EBIT Mg.4 40.9% 39.7% -1.2 p.p. 41.2% 39.6% -1.6 p.p.

EBIT on the same basis2 602.1 591.8 -1.7% 701.5 694.0 -1.1%

EBIT Mg. on the same basis2 43.3% 41.8% -.,5 p.p. 43.3% 41.7% -1.6 p.p.

Adjusted EBITDA5 845.2 960.2 13.6% 980.9 1,106.7 12.8%

Adjusted EBITDA Mg.4 59.3% 60.0% +0.7 p.p. 59.2% 59.3% +0.1 p.p.

Adjusted EBITDA on the same basis2 858.7 908.4 5.8% 994.7 1,053.3 5.9%

Adjusted EBITDA Mg. on the same basis2 61.8% 64.2% +2.4 p.p. 61.4% 63.3% +1.9 p.p

Net Income 183.7 145.7 -20.7% 183.7 145.7 -20.7%

Net Income on the same basis2 234.0 147.8 -36.8% 234.0 147.8 -36.8%

2Q15 2Q16 Chg %Financial Indicators (R$ MM) 2Q15 2Q16 Chg %

IFRS Proforma

5

Traffic – Quarter Change (Proforma*)

Consolidated – MM Equivalent Vehicle

Revenue and traffic 2Q16 X 2Q15 (%)

* Information including Renovias which is contemplated in the proforma method.

Excluding Ponte

and MSVia

234,478 (-3.7%)

253,194211,840 237,859

238,811 253,634

263,465

2Q11 2Q12 2Q13 2Q14 2Q15 2Q16

-3.5 -6.4

2.7

-7.5 -5.4

-1.9 -2.4 -4.3

-0.7

5.9 7.8

-2.7 -1.8

1.7

8.9

0.1

AutoBAn NovaDutra RodoNorte ViaLagos ViaOeste Renovias RodoAnel SPVias

Traffic Toll Revenues

6

Revenue Analysis (Proforma*)

Payment Means

Gross Operating Revenues Gross Revenue Breakdown

* Including the proportional results of jointly-owned subsidiaries.

AutoBAn22.9%

NovaDutra14.1%

ViaOeste11.5%

RodoNorte9.0%

Airports10.2%

SPVias7.2%

STP3.9%

MSVia3.6%

ViaQuatro3.1%

RodoAnel2.9%

TAS2.3%

Renovias1.9%

Barcas1.8%

ViaLagos1.6%

Ohers4.0%

69% 70% 70% 70%

31% 30% 30% 30%

2Q13 2Q14 2Q15 2Q16

Electronic Cash

84% 84% 78% 74%

16% 16% 22% 26%

2Q13 2Q14 2Q15 2Q16

Toll Others

1,475.7

1,906.0

1400.436 13 1 25

310 27 18 506

2Q15 Depreciationand

Amortization

Third-partyServices

GrantingPower andAdvanced

Expenses

PersonnelCosts

ConstructionCosts

MaintenanceProvision

OtherCosts

2Q16 NewProjects

2Q16SameBasis

7

IFRS Costs Evolution

Total Costs (R$ MM)

Conclusion of civil works in NovaDutra

and Rodonorte

New business and

Ponte

New business

Capex (New business)

Same-basis

Cash Cost: R$

528 MM (-4.0%)

Update of estimates and

technichal specification

7% 12% 49% 29% 18% 0.6% Same-basis

Cash Cost: R$

550 MM

ProformaSame-

basis Cash

Cost: R$ 633

MM (-2.1%)

65% 18%

981

1,1061,053

(53)

2Q15Proforma

EBITDA

2Q16Proforma

EBITDA

NewProjects

and Ponte

2Q16Proforma

EBITDASameBasis

8

Proforma EBITDA*

59.2%

of Mg.

59.3%

of Mg. 63.3%

of Mg.

* Same-basis figures exclude: (i) new businesses, either non-operating, under assisted operation, or which were not included in the portfolio during at least one of the

comparison periods: Metrô Bahia, MSVia and TAS; (ii) Ponte, whose agreement ended on May 31, 2015; and (iii) additionally, it excludes Controlar, ViaRio and VLT.

*

2Q15 Same basis

R$ MM 994.7

61.4% of Mg.

2Q16 Same basis

R$ MM 1,053.3

(+5.9%)

R$ MM

389.2

501.7 142.0 1.5 15.8 141.8

2.9

66.2 6.9

37.1 13.4

2Q15 NetFinancial Result

Income fromHedge

Operation

Monetary variation on

loans, financ. and debentures

Monetary Variation on

Liabilities related to the Granting

Power

Exchange Rate Variation on Loans and Financing

Present Value Adjustment of Maintenance

Prov. and

Liabilities related to the Granting

Power

Interest on Loans,

Financing and Debentures

Investment Income and

Other Income

Fair Value ofHedge

Operation

Others 2Q16 NetFinancial Result

9

IFRS Financial Results

• Chg. of average CDI 2Q16 X 2Q15 = +1.0 p.p.

• Gross Debt = R$ 14.7 B (+20.0%)

28%

R$ MM

10

Net Income

R$ MM

Same basis

R$ 246 MM

* Same-basis amounts exclude: (i) new businesses, either non-operating, under assisted operation, or which were not included in the portfolio during at least one of the

comparison periods: Metrô Bahia, MSVia and TAS; (ii) Ponte, whose agreement ended on May 31, 2015; and (iii) additionally, it excludes Controlar, ViaRio and VLT.

*

Same basis

R$ 147.8 MM

(-36.8%) 183.7

145.72 147.8

2Q15Net

Income

2Q16Net

Income

NewProjects

and Ponte

2Q16Net Income

SameBasis

Gross hedged debt by indexer

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Debt in June 30, 2016 Amortization Schedule (R$ MM) Indebtedness and leverage position

• Total Gross Debt: R$ 14.7 Bn

(R$16.0 Bn proforma)

• Net Debt / EBITDA: 3.3 x

(3.1 x proforma)

Gross debt by indexer

Not hedged Hedged

CDI78.4%

TJLP15.1%

IPCA4.7%

USD1.7%

CDI53.1%

IPCA18.9%

TJLP15.1%

USD12.9%

Hedged

1,084

2,591

1,816 1,756

624

105

1,304

350 151

157

452

797 1,182

2,462

2016 2017 2018 2019 From2020

CDI USD Others

3,0923,0892,963

4,347

1,346

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Debt Structure and Amortization

Amortization 2016 - 2017 Amortization schedule

Amortization (R$ MM) 2016 2017

AutoBan 283 549

Metrô Bahia 236 610

Barcas 199 0

ViaOeste 154 275

CCR 118 879

CPC 89 417

NovaDutra 85 346

CAP 58 0

RodoAnel Oeste 49 835

CCR USA Airpot 41 40

SPVias 21 155

BHAirport 1 80

CCR Espanha 0 96

Outras 13 64

TOTAL 1,346 4,347

TOTAL AMORTIZATION 1,346 4,347

In R$ billion

Extension of debt

profile

4,84,0

6,1

1,3

4,3

9,1

2016 2017 From 2018

Mar-16 Jun-16

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2Q16 Funding

Concessionaire Date Amount (R$ MM) Debt Average Cost Maturity

SAMM Apr-16 55.0 Commercial Paper 115.32% CDI Mar-17

BARCAS Apr-16 191.0 Commercial Paper 128.50% CDI Oct-16

VIA LAGOS Apr-16 65.0 Debentures (issuance) 118.00% CDI Apr-18

CCR Apr-16 300.0 Resolution 4131 124.95% CDI Apr-17

AUTOBAN Apr-16 177.5 Resolution 4131 124.80% CDI Apr-18

BH AIRPORT Apr-16 22.5 BNDES TJLP + 2.66% p.a. Jul-17

BH AIRPORT Apr-16 7.5 BNDES TJLP + 3.45% p.a. Jul-17

MSVIA Apr-16 587.0 BNDES LP TJLP + 2.00% p.a. Mar-39

VIAQUATRO May-16 165.0 Debentures (inssuance) CDI + % 1.5 p.a. May-17

VIARIO May-16 140.4 CCB CDI + % 4.5 p.a. Aug-16

RODOANEL May-16 750.0 Debentures (inssuance) CDI + % 3.8 p.a. May-19

METRÔ BAHIA May-16 200.0 Debentures (inssuance) CDI + % 3.95 p.a. May-18

METRÔ BAHIA Jun-16 187.0 BNDES LP TJLP + 3.18% p.a. Oct-42

SPVIAS Jun-16 1,200.00 Debentures (inssuance) 129.30% CDI May-21

Total 4,047.9

Concessionaire Date Amount (R$ MM) Debt Average Cost Maturity

Curaçao Jun-16 18.0 USD Long Term Facility 4.20% p.a. Jul-26

Total 18.0 USD

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Debt

Net Debt / EBITDA LTM

IFRS10 and 11

Proforma Data

R$ MM

7,620 7,859 8,081

9,562 9,82610,413

10,734

12,423 12,078

13.94512,971 13.063

3.0

1.9 2.0 2.02.3 2.4 2.5 2.5

3.03,1 3.2 3,3

-2,5

-1,5

-0,5

0,5

1,5

2,5

3,5

4.000

6.000

8.000

10.000

12.000

14.000

16.000

18.000

20.000

1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 1Q16 2Q16

Net Debt (R$ MM) Net Debt/EBITDA (x)

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Investments and Maintenance

1- The investments made by the Company, which will be reimbursed by the granting authority as monetary consideration or contribution,

compose the financial assets.

2- For 100% of the project, at 1Q16 the total investment was R$269.8 million, of which R$16.3 million is related to the portion of the

Concessionaire and R$220.4 million to the Granting Authority.

3- Includes CCR, MTH, CPC and eliminations.

2Q16

R$ MM

AutoBAn 21.0 1.1 22.1 5.0 0.0

NovaDutra 17.3 0.8 18.1 12.6 0.0

ViaOeste 12.0 0.9 12.9 1.8 0.0

RodoNorte (100%) 82.1 1.3 83.4 3.2 0.0

Ponte 0.0 0.0 0.0 0.0 0.0

ViaLagos 3.5 0.1 3.6 0.0 0.0

SPVias 3.6 0.6 4.2 7.4 0.0

ViaQuatro (60%) 63.8 0.5 64.3 0.0 0.0

Renovias (40%) 0.2 0.2 0.4 3.2 0.0

RodoAnel (100%) 6.2 0.2 6.4 3.8 0.0

SAMM 0.7 6.1 6.8 0.0 0.0

ViaRio2 (33.33%) 21.9 0.8 22.7 0.0 0.0

Quito 4.3 0.0 4.3 0.0 0.0

San José 6.9 0.0 6.9 0.0 0.0

Curaçao 4.5 0.0 4.5 0.0 0.0

Barcas 0.1 0.1 0.2 0.0 0.0

VLT (24.88%) 43.1 0.1 43.2 0.0 93.0

Metrô Bahia 235.6 5.7 241.3 0.0 286.3

BH Airport 133.6 1.2 134.8 0.0 0.0

MSVia 101.3 3.7 105.0 0.0 0.0

STP (34.24%) 2.0 0.7 2.7 0.0 0.0

Other3 0.2 5.9 6.1 0.0 0.0

Consolidated 763.8 30.0 793.9 37.0 379.3

Proforma

Financial

Asset1

ImprovementsEquipments

and OthersTotal

Maintenance

Cost

Intangible AssetsPerformed

maintenance