3Q11 Earnings Results

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 toFully 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.

Disclaimer

2

Agenda

3Q11 Earnings Results

Analysis of the Results

Prospects

3

Highlights

TRAFFIC:

Growth of 10.7% in 3Q11 and 13.2% in 9M11. Regarding the same traffic base, we recorded a growth of 4.4% and 6.1%, respectively.

ELECTRONIC TOLL COLLECTION:

Electronic toll collections stood at 66.4% in 3Q11 (61.4% in 3Q10), with the number of users of the STP system expanding by 30.2% compared to September 2010, reaching active active 3,048,000 tags.

EBITDA and EBITDA MARGIN

Growth of +41.5% of EBITDA in 3Q11, with a margin of 67.0%, up 7.5 p.p.

4

3T11’s Earnings Highlights

Strong expansion of EBITDA as a result...

... Of the growth of traffic and cost discipline.

6

Indicadores Financeiros (R$ MM)

3T10 3T11 Var % 09M10 09M11 Var %

Receita Líquida(1) 978,4 1.228,5 25,6% 2.715,4 3.352,1 23,5%

Custos Totais (2) (497,5) (576,2) 15,8% (1.328,6) (1.734,8) 30,6%

EBIT(3) 480,9 652,4 35,7% 1.386,7 1.617,4 16,6%

Mg. EBIT 49,2% 53,1% +3,9 p.p 51,1% 48,2% -2,9 p.p

Custos e Despesas Não Caixa (4) 101,1 170,9 69,1% 272,2 528,9 94,3%

EBITDA 582,0 823,3 41,5% 1.658,9 2.146,3 29,4%

Mg. EBITDA 59,5% 67,0% +7,5 p.p 61,1% 64,0% +2,9 p.p

Resultado Financeiro Liquido (69,2) (270,6) 291,3% (370,2) (685,8) 85,2%

Lucro Líquido 271,2 266,6 -1,7% 656,1 604,7 -7,8%

(1) A Receita Operacional Líquida exclui a Receita de Construção.

(2) Custos dos Servicos Prestados + Despesas Administrativas excluindo Custos de Construção

(3) EBIT = Receita Liquida + Receita de Construção - Custs Totais

(4) D&A + Desp. Antecipadas + Provisão de Manutenção

Analysis of the Results

AutoBan Ponte NovaDutra Renovias RodoAnel RodoNorte ViaLagos ViaOeste

2.8% 2.4%

6.2%4.6% 4.4% 4.9%

7.1%

5.4%

13.0%

9.7%10.7%

15.6%

8.3%

10.2%11.7%

15.5%

Tráfego Receita de Pedágio

3T06 3T07 3T08 3T09 3T10 3T11

133,386 142,565

156,084

178,663

224,970 234,922

Traffic – Annual Change

Consolidated

3Q11 Revenue and Traffic – Change per Concessionaire

Total CAGR VEQ – 12.0%

Y-o-Y Total VEQ – 10.7%

Same base – 4.4%

9

61,5%

38,5%

IGPM IPCA

Pedágio; 91.1%

Outros; 8.9%

Revenue Breakdown – 3Q11Means of Payment – 3Q11

Revenue Indexer– 3Q11Gross Operating Revenue– 3Q11

Analysis of Revenue

10

AutoBan 30.8%

Ponte 2.5%NovaDutra 19.1%

Renovias 2.4%RodoAnel 3.3%

RodoNorte 8.7%

ViaLagos 1.3%

ViaOeste 14.9%

SP Vias 8.0%

Controlar 2.5% ViaQuatro 1.6% Outros 4.9%

3T08 3T09 3T10 3T11

54.4% 57.4% 61.1% 66.4%

45.6% 42.6% 38.9% 33.6%

Meios Eletrônicos À Vista

Revenue and Costs

Strong growth in traffic and contractual adjustment of the tariffs coupled with...

... Cost discipline resulting in strong growth of EBITDA.13

Traffic +10,7%Tariff +11,3%

Increase on EBITDA margin +7,5 p.p.

In line with Growth of Revenue

Cost Reductions

Under Growth of Revenue

SP Vias, +5.5% labor increase and ViaQuatro

Cost Reductions

Closer estimates than in 2010, which was the first year of IFRS implementation

EBITDA grew 41.5%:

Custos Totais (718,5) (714,7) -0,5%

Depreciação e Amortização (83,3) (108,5) 30,2%

Serviços de Terceiros (171,0) (151,2) -11,6%

Custo de Outorga e Desp. Antecipadas (80,3) (88,3) 10,0%

Custo Pessoal (89,0) (115,9) 30,3%

Custo de Construção (221,0) (138,5) -37,3%

Provisão de Manutenção 2,9 (41,8) n.m.

Outros Custos (76,9) (70,5) -8,3%

Custos (R$ MM) 3T10 3T11 Var%

Financial Result and Income

Financial Result Highlight

The higher financial result tenporarily affected profit, but reflects...

... The company’s period of growth

7

Resultado Financeiro Líquido (R$ MM) 3T10 3T11 Var% 09M10 09M11 Var%

Resultado Financeiro Líquido (69,2) (270,6) 291,3% (370,2) (685,8) 85,2%

Despesas Financeiras: (200,5) (362,7) 80,9% (762,0) (949,1) 24,6%

- Variação Cambial (3,0) (69,1) n.m. (151,3) (101,5) -32,9%

- Perda com Operação de Hedge (29,0) (11,3) -60,9% (83,8) (50,7) -39,5%

- Variação Monetária (10,4) (5,1) -50,8% (45,7) (35,1) -23,1%

- Juros Empréstimos, Financiamentos e Debêntures

(134,8) (241,7) 79,3% (368,0) (652,0) 77,2%

- Ajuste a Valor Presente da Provisão de Manutenção

(22,5) (17,0) -24,5% (67,8) (55,0) -18,9%

- Outras Despesas Financeiras (0,8) (18,4) n.m, (45,5) (54,7) 20,3%

Receitas Financeiras: 131,4 92,1 -29,9% 391,8 263,3 -32,8%

- Ganho com Operação de Hedge 1,3 20,7 1502,5% 23,0 27,3 18,4%

- Variação Cambial 89,0 5,9 -93,4% 183,3 80,0 -56,4%

- Variação Monetária 0,0 0,5 n.m. 0,0 1,3 n.m.

- Outras (Juros e Rendimentos de Aplicações)

41,1 65,0 58,2% 185,5 154,8 -16,6%

Financial Result Highlight

Excluding the non-cash effect of the exchange variation, the financial result would have been...

...in line with the increase in the debt due to the period of expansion of CCR.7

Resultado Financeiro Líquido (R$ MM) 3T10 3T11 Var% Resultado Financeiro Líquido (69,2) (270,6) 291,3%

Despesas Financeiras: (200,5) (362,7) 80,9%

- Variação Cambial (3,0) (69,1) n.m.

- Perda com Operação de Hedge (29,0) (11,3) -60,9%

- Variação Monetária (10,4) (5,1) -50,8%

- Juros Empréstimos, Financiamentos e Debêntures (134,8) (241,7) 79,3%

- Ajuste a Valor Presente da Provisão de Manutenção (22,5) (17,0) -24,5%

- Outras Despesas Financeiras (0,8) (18,4) n.m.

Receitas Financeiras: 131,4 92,1 -29,9%

- Ganho com Operação de Hedge 1,3 20,7 1502,5%

- Variação Cambial 89,0 5,9 -93,4%

- Variação Monetária 0,0 0,5 n.m.

- Outras (Juros e Rendimentos de Aplicações) 41,1 65,0 58,2%

R$ 53 M in the exchange variation ( ViaQuatro’s debt).

- R$ 40 M -> Acquisition of SP Vias- R$ 24 M -> Increase in Interest- R$ 42 M -> Cost of the new Rodoanel

debt to reduce exchange risk

+R$ 159 M in financial expenses.Efeito principalmente de:

Debt

Leveraging indexes are stable...

...even anticipating the dividends for the year.

Net Debt/ EBITDA LTM

11

TJLP; 4.4%

IGP-M; 5.7%

CDI; 74.1%

IPCA; 2.4%

Pré-fixada; 7.4%

USD; 6.0%

4T09 1T10 2T10 3T10 4T10 1T11 2T11 3T110

0.5

1

1.5

2

2.5

3

0

2,000

4,000

6,000

8,000

10,000

2,905 3,067 3,4564,169

5,633 5,565 5,6306,186

1,5x 1,5x1,6x

1,9x

2,5x2,3x 2,2x 2,3x

Dívi. Líquida (R$ Milhões) Dív. Líquida/EBITDA (x)

Pro Forma Income Exercise

Conducting a normalization exercise...

6

Example %Chg.

3Q11 Reported Net Income 266.6 -1.7%

Were the exchange rate to remain stable until the close of 4Q11 at R$ 1.85 to the dollar (including the fiscal effect)

+35.0 M

Net Income of the Example 30.6 +11.2%

If we consider ViaQuatro in a more stable situation (6 stations completely opened only on October 16)

+10.4 M

Pro Forma Net Income 312.0 +15.0%

... Pro forma net income would be 15% higher.

Indicadores Financeiros (R$ MM)

3T10 3T11 Var %

Receita Líquida(1) 978,4 1.228,5 25,6%

Custos Totais (2) (497,5) (576,2) 15,8%

EBIT(3) 480,9 652,4 35,7%

Mg. EBIT 49,2% 53,1% +3,9 p.p

Custos e Despesas Não Caixa (4) 101,1 170,9 69,1%

EBITDA 582,0 823,3 41,5%

Mg. EBITDA 59,5% 67,0% +7,5 p.p

Resultado Financeiro Liquido (69,2) (270,6) 291,3%

Lucro Líquido 271,2 266,6 -1,7%

Capex

14

CAPEX (R$ MM) 1T11 2T11 3T11 09M11

AutoBAn 16,4 24,5 26,7 67,6

NovaDutra 51,7 67,1 78,7 197,5

ViaOeste 42,2 33,1 9,6 84,9

RodoNorte (100%) 3,1 4,2 2,1 9,4

Ponte 3,2 3,7 3,0 9,9

ViaLagos 0,3 0,3 0,3 0,9

SPVias 4,9 3,5 8,8 17,1

ViaQuatro (58%) 20,2 12,3 27,9 60,4

Renovias (40%) (0,2) 3,9 4,5 8,2

RodoAnel (100%) 17,4 15,9 15,0 48,3

Controlar (45%) 1,3 0,3 0,3 1,9

Outras1 8,3 11,6 10,6 30,5

Consolidado 168,8 180,3 187,4 536,5

1 - Inclui CCR, CCR México, CCR USA, CPC e STP.* Valores Estimados

Prospects and Growth

Negotiation contractual amendments in the states of São Paulo Rio de Janeiro;

STP Project

Maturation of Via Quatro – Phase1 concluded (6 stations) from 4:00 a.m. to midnight.

Transolímpica in Rio de Janeiro

BR 101 – RJ-BA

Acquisitions on the secondary market;

Airports

Short-Medium Term Initiatives

Urban Mobility;

Infrastructure: World Cup 2014 / Olympics 2016 – Urban Mobility;

Federal Concessions Program;

State Concessions Program: São Paulo and Minas Gerais.

Long-Term Prospects

15

Thank you