Earnings Results 1Q16 May, 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:

Proforma consolidated traffic1,excluding Ponte and MSVia, fell by 2.4% in 1Q16.

ADJUSTED EBITDA:

Same-basis2 adjusted proforma EBITDA increased by 7.1%, with an margin of 64.8%.

NET INCOME:

Same-basis2 net income totaled R$252.7 million, a 2.9% increase in 1Q16.

CORPORATE HIGHLIGHT:

Signature of the agreement related to the sale of the entire stake in STP, as disclose through the

Material Fact of March 14, 2016.

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1Q16 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.

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Financial Highlights – 1Q16

Net Revenues1 1,436.4 1,635.9 13.9% 1,659.4 1,909.8 15.1%

Adjusted Net Revenues on the same basis2 1,396.1 1,465.8 5.0% 1,616.9 1,730.8 7.0%

Adjusted EBIT3 590.6 705.1 19.4% 693.4 826.6 19.2%

Adjusted EBIT Mg.4 41.1% 43.1% +2.0 p.p. 41.8% 43.3% +1.5 p.p.

EBIT on the same basis2 649.9 679.1 4.5% 753.5 797.1 5.8%

EBIT Mg. on the same basis2 46.5% 46.3% -0.2 p.p. 46.6% 46.1% -0.5 p.p.

Adjusted EBITDA5 859.7 992.4 15.4% 997.1 1,157.7 16.1%

Adjusted EBITDA Mg.4 59.9% 60.7% +0.8 p.p. 60.1% 60.6% +0.5 p.p.

Adjusted EBITDA on the same basis2 909.4 959.6 5.5% 1,047.5 1,121.5 7.1%

Adjusted EBITDA Mg. on the same basis2 65.1% 65.5% +0.4 p.p. 64.8% 64.8% -

Net Income 198.9 247.5 24.4% 198.9 247.5 24.4%

Net Income on the same basis2 245.6 252.7 2.9% 245.6 252.7 2.9%

1Q15 1Q16 Chg %Financial Indicators (R$ MM) 1Q15 1Q16 Chg %

IFRS Proforma

1Q11 1Q12 1Q13 1Q14 1Q15 1Q16

228 240 245

267257 249

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Traffic – Quarter Change (Proforma*)

Consolidated – MM Equivalent Vehicle

Revenue and traffic 1Q16 X 1Q15 (%)

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

Excluding Ponte

and MSVia

236 (-2.4%)

AutoBAn NovaDutra Rodonorte ViaLagos ViaOeste Renovias Rodoanel SPVias

-2.6

-10.0

5.5

-3.6-2.1 -2.1 -2.0

2.70.1 1.9

11.9

-0.8

1.8 1.8

9.57.7

Traffic Toll Revenues

1Q13 1Q14 1Q15 1Q16

67% 69% 69% 68%

33% 31% 31% 32%

Electronic Cash

1Q13 1Q14 1Q15 1Q16

85% 84% 79% 74%

15% 16% 21% 26%

Toll Others

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%

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Revenue Analysis (Proforma*)

Payment Means

Gross Operating Revenues Gross Revenue Breakdown

* Including the proportional results of jointly-owned subsidiaries.

1Q15 Depreciationand

Amortization

Third-partyServices

GrantingPower andAdvanced

Expenses

PersonnelCosts

ConstructionCosts

MaintenanceProvision

OtherCosts

1Q16 NewProjects

1Q16SameBasis

1,292

1,493

988

35 16 645

119 (17) (3) (505)

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IFRS Costs Evolution (1Q16 X 1Q15)

Total Costs (R$ MM)

End of Works on NovaDutra, AutoBAn and

SPVias

New Projects

and Ponte

Wage Increase and Exchange Rate Effect in

Curaçao

Performed Work

(New Projects)

Same-basis

Cash Cost: R$

527 MM (+3.8%)

Reduction in the Provision of RodoNorte

8% 25%

27% 16%

19%

(28)%

6%

Same-basis

Cash Cost: R$

507 MM (2)%

ProformaSame-

basis Cash

Cost: R$ 624

MM (+5.5%)

1Q15Proforma

EBITDA

1Q16Proforma

EBITDA

NewProjects

and Ponte

1Q16Proforma

EBITDASameBasis

997

1,158 1,122(36)

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Proforma EBITDA*

60.1%

of Mg.

60.6%

of Mg. 64.8%

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.

*

1Q15 Same basis

R$ MM 1,048

64.8% of Mg.

1Q16 Same basis

R$ MM 1,122

(+7,1%)

R$ MM

1Q15 NetFinancial Result

Income fromHedge Operation

Monetary variation on loans, financing

and debentures

Monetary Variation on Liabilities related

to the Granting Power

Exchange Rate Variation on Loans

and Financing

Present Value Adjustment of

Maintenance Provision and

Liabilities related to the Granting Power

Interest on Loans, Financing and

Debentures

Investment Income and Other Income

Fair Value ofHedge Operation

Others 1Q16 NetFinancial Result

341.7

(0.5) 455.7148.5

33.9 1.7 (157.4)

3.4

75.6 (40.2) 49.0

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IFRS Financial Results

• Chg. of average CDI 1Q16 X 1Q15 = +1.8 p.p.

• Gross Debt = R$ 14.8 B (+28.1%)

33%

R$ MM

1Q15Net

Income

1Q16Net

Income

NewProjects

and Ponte

1Q16Net Income

SameBasis

199248 5 253

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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$ 253 MM

(+2.9%)

CDI81.2%

TJLP13.4%

IPCA3.5%

USD1.9%

CDI57.0%IPCA

18.6%

TJLP13.4%

USD11.0%

2016 2017 2018 2019 From2020

3,983

2,413 1,334

762 -

72

1,344

228

CDI USD Others

1,6602,083

2,340

4,008

4,820

Gross hedged debt by indexer

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Debt in March 31, 2016 Amortization Schedule (R$ MM)

Indebtedness and leverage position

• Total Gross Debt: R$ 14.9 Bn

(R$16.3 Bn proforma)

• Net Debt / EBITDA: 3.2x

(3.0x proforma)

Hedged

Not hedged

Gross debt by indexer

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Debt Structure and Amortization

84% has already been addressed

Amortization 2016 - 2017

* Expiration already equated through issues or contracts signed with BNDES.

Emissions since Apr/2016

• April 2016: R$587.0 million in MSVia, part of the long-term

loan with the BNDES, totaling R$2.3 billion, maturing up to

2039;

• May 2016: R$750 million in RodoAnel, with the 5th

debenture issue, maturing up to 2019.

Amortization (R$ MM) 2016 2017

SPVias* 1,284 35

RodoAnel Oeste* 865 835

CCR* 688 673

MSVia* 569 0

AutoBAn 430 546

ViaOeste* 225 285

Metrô Bahia* 221 610

Barcas* 205 0

NovaDutra 94 365

TOTAL 4,583 3,349

TOTAL AMORTIZATION 4,820 4,008

Executed:

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1Q16 Funding

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

ViaOeste Jan/16 184.0 Loan 4131 LIBOR 3M + 2.10% p.a. Jan/19

CPC Jan/16 1250.0 Bond CDI + 3.50% p.a. Jan/19

BH Airport Jan/16 37.5 BNDES TJLP + 3.45% p.a. Jul/17

BH Airport Jan/16 12.5 BNDES TJLP + 2.66% p.a. Jul/17

CCR Feb/16 109.6 Promissory Note 124.10% of CDI Aug/16 - Feb/19

Metro Bahia Feb/16 155.0 BNDES TJLP + 3.18% p.a. Oct/42

Total 1,748.6

7,620 7,859 8,081

9,562 9,82610,413

10,734

12,423 12,07811,522

12,971

3.0

1.9 2.0 2.02.3 2.4 2.5 2.5

3.03.2 3.2

-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 4Q15 1Q16

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

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Debt

Net Debt / EBITDA LTM

IFRS10 and 11

Proforma Data

R$ MM

The leverage ratio reflects the need to invest in new business, …

... that had no cash flow generation at year-end.

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Realized 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.

1Q16

R$ MM

AutoBAn 18.6 1.6 20.2 5.0 0.0

NovaDutra 17.0 1.9 18.9 4.1 0.0

ViaOeste 14.9 1.9 16.8 0.2 0.0

RodoNorte (100%) 23.3 0.5 23.7 1.7 0.0

ViaLagos 4.1 0.0 4.1 0.0 0.0

SPVias 9.5 0.8 10.3 6.2 0.0

ViaQuatro (60%) 27.5 0.9 28.4 0.0 4.8

Renovias (40%) 0.2 0.5 0.7 0.0 0.0

RodoAnel (100%) 5.0 1.6 6.6 0.7 0.0

SAMM 6.6 2.2 8.9 0.0 0.0

ViaRio2 (33.33%) 15.6 0.7 16.3 0.0 0.0

Quito (50%) 49.9 1.5 51.3 0.0 0.0

San José (48.75%) 64.9 0.4 65.3 0.0 0.0

Curaçao 4.1 0.0 4.1 0.0 0.0

Barcas 0.2 0.0 0.2 0.0 0.0

VLT (24.88%) 15.8 0.1 15.9 0.0 13.2

Metrô Bahia 105.7 0.3 106.0 0.0 116.0

BH Airport 84.1 1.9 86.0 0.0 0.0

MSVia 85.0 9.1 94.1 0.0 0.0

STP (34.24%) 1.6 1.3 2.9 0.0 0.0

Other3 0.0 81.0 81.0 0.0 0.0

Consolidated 553.7 108.0 661.7 18.0 134.0

Proforma

Financial Asset1

ImprovementsEquipments and

OthersTotal

Maintenance

Cost

Intangible AssetsPerformed

maintenance