Earnings Results 3Q14October, 2014

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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.

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Agenda

Highlights

Results Analysis

Perspectives

3

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3Q14 and 9M14 Highlights

TRAFFIC:

Proforma consolidated traffic fell by 1.3% in 3Q14.

TOLLS COLLECTED BY ELECTRONIC MEANS:

The number of STP users increased by 12.5% over September 2013, reaching 4,618,000

active tags.

ADJUSTED EBITDA:

Same-basis1 adjusted proforma EBITDA increased by 5.3%, with an margin of 67.4% (+0.7

p.p.). In 9M14, same-basis1 adjusted proforma EBITDA climbed by 8.5%, with an margin of

65.7% (+0.9 p.p.).

NET INCOME:

Same-basis1 net income totaled R$366.2 million, a 8.1% reduction in 3Q14 and R$1,017.1

million, an decrease of 2.5% in 9M14.

DIVIDENDS:

As of October 31, 2014, we will begin the payment of interim dividends corresponding to

R$0.7359 per common share

1 Adjustment excluding New Businesses, which are not operating yet (MSVia and Metrô Bahia), BH Airport, besides Controlar, which has been discontinued

since January 2014. 4

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Financial Highlights – 3Q14

1-Net revenue excludes construction revenue.

2-The Adjusted EBIT and EBITDA margins were calculated by dividing EBIT and EBITDA by net revenue, excluding construction revenue, as required by IFRS,

whose counter-entry of the same amount impacts total costs.

3-Adjustment excluding New Businesses, which are not operating yet (MSVia and Metrô Bahia), BH Airport), besides Controlar, which has been discontinued since

January 2014.

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

5

Financial Indicators (R$ MM) 3Q13 3Q14 Chg % 3Q13 3Q14 Chg %

Net Revenues1 1,377.1 1,458.7 5.9% 1,594.4 1,663.9 4.4%

EBIT 723.0 700.6 -3.1% 814.8 796.2 -2.3%

Adjusted EBIT Mg.2 52.5% 48.0% -4.5 p.p. 51.1% 47.9% -3.2 p.p.

EBIT on the same basis3 723.0 729.1 0.8% 814.8 824.8 1.2%

EBIT Mg. on the same basis3 52.5% 50.9% -1.6 p.p. 51.8% 50.3% -1.5 p.p.

Adjusted EBITDA4 928.5 951.0 2.4% 1,056.9 1,077.4 1.9%

Adjusted EBITDA Mg. 67.4% 65.2% -2.2 p.p. 66.3% 64.8% -1.5 p.p.

Adjusted EBITDA on the same basis3 928.5 977.6 5.3% 1,048.1 1,104.1 5.3%

Adjusted EBITDA Mg. on the same basis3 67.4% 68.2% +0.8 p.p. 66.7% 67.4% +0.7 p.p.

Net Income 403.5 346.1 -14.2% 403.5 346.1 -14.2%

IFRS Proforma

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3Q09 3Q10 3Q11 3Q12 3Q13 3Q14

178,663

224,970

248,936 256,560 275,606 271,966

Traffic – Quarter Change (Proforma)

Consolidated – Equivalent Vehicle

Revenue and traffic 3Q14 X 3Q13 (%)

* Information including Renovias which is contemplated in the proforma method.6

AutoBAn NovaDutra RodoNorte Ponte ViaLagos ViaOeste Renovias2 RodoAnel SPVias

-2.3 -2.9 -3.2-1.4

-2.8-0.1

3.7

0.3

-0.5

3.92.7 2.5 2.7

4.46.1

12.5

7.0 6.4

Traffic Toll Revenues

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AutoBan28.4%

NovaDutra16.4%

ViaOeste13.5%

RodoNorte8.9%

SPVias8.0%

Airports5.6%

STP3.6%

ViaQuatro3.3%

RodoAnel3.2%

Ponte2.3%

Barcas2.3%

Renovias2.3%

ViaLagos1.3%

Others0.9%

3Q11 3Q12 3Q13 3Q14

66% 68% 70% 71%

34% 32% 30% 29%

Electronic Cash

Revenue Analysis (Proforma)

Payment Means

Gross Operating Revenues Gross Revenue Breakdown

* Including the proportional results of jointly-owned subsidiaries.7

3Q11 3Q12 3Q13 3Q14

91% 87% 83% 83%

9% 13% 17% 17%

Toll Others

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3Q13 Depreciationand

Amortization

Third-partyServices

GrantingPower andAdvanced

Expenses

PersonnelCosts

ConstructionCosts

MaintenanceProvision

OtherCosts

3Q14 Ex NewBusiness

3Q14Ex New

Business

919.7

1,233.7

947.43630 2

34

208 9 (4) (286)

Costs Evolution (3Q14 X 3Q13)

Same Basis

Cash Cost:

+1.5%

Total Costs (R$ MM)

NewProjects

Performed Workand

New Projects

Construction of ServiceRoads, Additional Lanes and

Collection System

New Projectsand

Wage Increase

8

19%24%

78% 34%

25% 3%

22%

2%

-5%

Additionalprovision onRodoNorte

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3Q13Proforma

EBITDA

3Q14Proforma

EBITDA

ExNew

Projects

3Q14Proforma

EBITDAExcluding

New Projects

1,056.9 1,077.4 1,104.127

Proforma EBITDA

66.3%

of Mg.

64.8%

of Mg.67.4%

of Mg.

Expansion of Proforma EBITDA excluding new projects ...

... reinforces cost control discipline.9

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Financial Results

Change in the quarter financial results reflects ...

... the increase in the average SELIC rate beyond the higher debt stock.

35%

10

• Chg. of average Selic 3Q14 X 3Q13 = +3.4 p.p.

• Gross Debt= R$ 9.3 B (+25.5%)

3Q13 NetFinancial Result

Income fromHedge Operation

Monetary variation on loans, financing

and debentures and Liabilities related to the Granting Power

Exchange Rate Variation on Loans,

Financing and Debentures

Present Value Adjustment of

Maintenance Provision and

Liabilities related to the Granting Power

Interest on Loans, Financing and

Debentures

Interest and Investment Income

and Other Income

Fair Value ofHedge Operation

Others 3Q14 NetFinancial Result

(162.1)

(219.1)

25.1

(4.9) (10.8) (6.8)

(87.0) 43.2

(15.1) (0,7)

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3Q13Net

Income

3Q14Net

Income

ExNew

Projects

3Q14Net Income

ExcludingNew Projects

403.5346.1 20 366.2

Same Basis Income1

1- Adjustment excluding New Businesses, which are not operating yet (MSVia and Metrô Bahia), BH Airport, besides Controlar, which has been discontinued

since January 2014. 11

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CDI88.3%

IPCA6.9%

TJLP2.1%

USD1.9% Others

0.8%

Debt in September 30, 2014

Gross debt by indexer

Amortization Schedule (R$ ‘000)

• Total Gross Debt: R$ 9.3 B

(R$ 10.3 B proforma)

• Net Debt / EBITDA: 2.0x...

12

2014 2015 2016 2017 From2018

979

2,356

3,229

1,660

10

5

147

9

10

CDI USD Others

506

1,849

3,371

2,569

1,017

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5,8936,330 6,344

7,212 7,018 6,944 6,600

7,609 7,620 7,859 8,0807,247 7,341

1.9 2.0 1.92.2 2.1 2.0

1.82.0 1.9 2.0 2.0 2.0 2.0

-2,5

-1,5

-0,5

0,5

1,5

2,5

0

2.000

4.000

6.000

8.000

10.000

12.000

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 2Q14 3Q14

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

Debt

Company presents a comfortable leverage ratio in order to realize the investments in business recently

conquered ...

... and follow with it’s qualified growth.

Net Debt / EBITDA LTM

IFRS10 and 11Proforma Data

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Realized Investments and Maintenance

14

3Q14 9M14 3Q14 9M14 3Q14 9M14 3Q14 9M14

AutoBAn 51.8 176.5 7.6 12.8 59.4 189.3 0.0 0.9 0.0 0.0

NovaDutra 56.7 149.8 4.6 10.2 61.3 160.0 16.0 49.0 0.0 0.0

ViaOeste 16.8 46.1 3.4 10.5 20.3 56.7 10.4 23.5 0.0 0.0

RodoNorte (100%) 30.5 69.8 1.4 4.1 31.9 73.8 17.1 40.6 0.0 0.0

Ponte -1.2 0.0 0.0 0.3 -1.2 0.3 1.0 2.3 0.0 0.0

ViaLagos 22.9 71.8 0.3 1.0 23.3 72.8 0.4 2.9 0.0 0.0

SPVias 66.5 169.0 2.8 7.4 69.3 176.4 20.8 45.9 0.0 0.0

ViaQuatro (58%) 47.3 48.8 0.8 2.4 48.1 51.1 0.0 0.0 2.0 29.6

Renovias (40%) 1.7 1.7 0.9 1.8 2.6 3.4 1.8 3.0 0.0 0.0

RodoAnel (100%) 3.9 11.7 1.5 2.4 5.4 14.1 0.0 0.0 0.0 0.0

Controlar (45%) 0.7 1.1 -0.3 0.0 0.4 1.1 0.0 0.0 0.0 0.0

SAMM 2.2 4.6 6.4 21.9 8.5 26.5 0.0 0.0 0.0 0.0

ViaRio (33.33%) 48.0 62.0 0.1 0.2 48.1 62.2 0.0 0.0 0.0 0.0

Quito 9.0 17.7 0.9 1.4 9.8 19.0 0.0 0.0 0.0 0.0

San José 5.7 8.1 0.1 0.1 5.8 8.2 0.0 0.0 0.0 0.0

Curaçao 9.1 11.9 0.0 0.0 9.1 11.9 0.0 0.0 0.0 0.0

Barcas 2.1 7.2 3.7 8.5 5.7 15.8 0.0 0.0 0.0 0.0

VLT (24.88%)2 -2.5 0.3 0.2 0.5 -2.3 0.8 0.0 0.0 70.1 93.1

Metrô Bahia 130.3 251.4 6.3 11.5 136.6 262.9 0.0 0.0 86.2 252.7

BH Airport 0.0 0.1 1.5 2.4 1.5 2.5 0.0 0.0 0.0 0.0

MSVia 40.1 58.9 16.6 34.4 56.7 93.2 0.0 0.0 0.0 0.0

STP (34.24%) 2.2 7.0 16.1 39.8 18.3 46.8 0.0 0.0 0.0 0.0

Other3 0.6 0.6 5.1 20.1 5.7 20.7 0.0 0.0 0.0 0.0

Consolidated 544.3 1,176.0 79.9 193.5 624.4 1,369.6 67.5 168.0 158.4 375.4

1 - The investments made, w hich w ill be received by the granting authority as monetary consideration or contribution, compose the f inancial assets

2 - The amounts consider reclassif ication in the quarter and accumulated for the f inancial asset.

3 - Includes CCR, MTH, CPC, SPCP and Eliminations

R$ MM

Performed InvestmentsPerformed

maintenance

Improvements Equipments and Others Total Maintenance Cost

Proforma Financial

Asset1

3Q14 9M14

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2014 Dividends

0.06

0.74

Dividends (Cash)

Commitment to pay at least 50% of net income as dividends to shareholders.

1 Considers the average share price in the year.

Interim

Complementary

2014 Cash dividends

paid per share

15

2%

4%

5%

4% 4%

5%5% 5%

4%

16%

58% 61% 65%

92%85% 85%

127%

90%

-70%

-20%

30%

80%

130%

2%

3%

4%

5%

6%

7%

1 2 3 4 5 6 7 8 9

Div. Yield Payout1

2.2%

4.2%

4.8%

3.8% 3.9%

5.0%4.6% 4.7%

3.9%3.7%

3.9%

16%

58% 61% 65%

92%85% 85%

127%

90% 90%96%

-70%

-20%

30%

80%

130%

2,0%

3,0%

4,0%

5,0%

6,0%

7,0%

1 2 3 4 5 6 7 8 9 10 11

Div. Yield Payout2,2%

4,2%

4,8%

3,8% 3,9%

5,0%4,6% 4,7%

3,9%3,7%

16%

58% 61% 65%

92%85% 85%

127%

90% 90%

-70%

-20%

30%

80%

130%

2,0%

3,0%

4,0%

5,0%

6,0%

7,0%

1 2 3 4 5 6 7 8 9 10

Div. Yield Payout

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

183263

500547

580

714 709 672

899

1,177

1,351

Net Income

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Track Record

Milestone Concession Awarded Acquisition Concession Extension

IPO

(2002)STP

(2003)Follow-on

(April 2004)ViaOeste

(October 2004)RodoNorte

(2005)

AutoBAn +

ViaOeste

Concession

Extension (2006)ViaQuatro

(2006)USA

(2007)

(2008)

Renovias

RodoAnel

(2008)Controlar

(2009)

Follow-on

(2009)

SP VIAS

(2010)

CCR Track Record: diversification and new bids

Via Lagos

Concession

Extension

(2011)

• Airports: Quito, San

José and Curaçao

•Barcas

(2012)Increase in

Curaçao stake

(2013)

• VLT

• Metrô Bahia

• BH Airport

• MSVia

(2013)

16

ViaRio

(2012)

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