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1Q10 Earnings

Results Presentation

05/13/2010

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This release contains forward-looking statements relating to the prospects of the business,

estimates for operating and financial results, and those related to growth prospects of TPI –

Triunfo Participações e Investimentos S.A.. These are merely projections and, as such, are

based exclusively on the expectations of the Company’s management concerning the future of

the business. Such forward-looking statements depend substantially on changes in market

conditions, the performance of the Brazilian economy, the sector and the international markets,

and are, therefore, subject to changes without previous notice.

Forward-Looking Statements

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I - Highlights

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I - Highlights

Total traffic volume on our toll road concessions grew 11.6% year-on-year to 18,189,000

equivalent vehicles.

Handled container volume increased by 124.0% over 1Q09 to 135,580 TEUs.

Gross Revenue increased by 27.1% over 1Q09 to R$126.179 million.

EBITDA grew 12.0% to R$73.122 million in 1Q10.

Net income came to R$14.450 million in 1Q10, 29.8% higher than in 1Q09.

Also on January 8, Portonave and its subsidiary Iceport announced that they will pay a

service tax of 2% on Gross Revenue.

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I - Highlights

On January 15, the unsubscribed shares left over from the capital increase during the period

for exercising the preemptive rights and the period for subscribing to the unsubscribed

shares were auctioned at the São Paulo Stock Exchange (BM&FBovespa). The shares were

subscribed at the price of R$6.32, resulting in premium of 15.0%.

On January 29, Triunfo announces joining the Assembleias Online system, which enables its

shareholders to participate in the company’s shareholders meeting remotely.

On February 25, we concluded the acquisition of 1,955,230 common shares in Vessel-Log

Cia. Brasileira de Navegação e Logística S.A.

On March 5, the Board of Directors ratified the Company’s intention to sell the shares issued

by our subsidiary Rio Verde Energia S.A. The investment was reclassified under ‘Holdings

for sale’, amounting to R$158.594 million as of March 31, and under non-consolidated bank

loans in the amount of R$353.554 million.

On March 15, Portonave is fined by the National Water Transport Agency (ANTAQ) for

possible irregularities.

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I – Subsequent Events

The Annual and Extraordinary Shareholders’ Meeting was held on April 7.

On April 12, a sum of R$ 8.4 million was paid by way of dividends declared in 2009.

On April 22, a Public Hearing was held to obtain the environmental clearance for the Santa

Rita project.

On April 29, the financial statements containing the reconciliation between BR GAAP and

IFRS are disclosed.

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II – 1Q10 Results

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16,303

18,189

15.000

15.500

16.000

16.500

17.000

17.500

18.000

18.500

19.000

1Q09 1Q10

Traffic – Equivalent Vehicles (‘000)

II – 1Q10 Results

11.6%

10

2,9343,240

5,707

6,419

7,662

8,530

-

1.000

2.000

3.000

4.000

5.000

6.000

7.000

8.000

9.000

10.000

1Q09 1Q10 1Q09 1Q10 1Q09 1Q10

Traffic – Equivalent vehicles in the concessionaries (‘000)

II – 1Q10 Results

ECONORTE CONCER CONCEPA

10.4%

12.5%

11.3%

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60,516

135,580

-

20.000

40.000

60.000

80.000

100.000

120.000

140.000

160.000

1Q09 1Q10

Container Handling - TEUs (‘000)

II – 1Q10 Results

124.0%

12

99,262

126,179

-

20.000

40.000

60.000

80.000

100.000

120.000

140.000

1Q09 1Q10

Gross Revenue from Operations (R$ ‘000)

II – 1Q10 Results

27.1%

13

21,682

26,971

-

5.000

10.000

15.000

20.000

25.000

30.000

1Q09 1Q10

Operating Costs (R$ ‘000)

Net – Depreciation / Amortization

II – 1Q10 Results

24.4%

14

2,372

11,377

-

2.000

4.000

6.000

8.000

10.000

12.000

14.000

1Q09 1Q10

Operating Expenses (R$ ‘000)

Net – Depreciation / Amortization

II – 1Q10 Results

379.6%

15

65,316

73,122

60.000

62.000

64.000

66.000

68.000

70.000

72.000

74.000

1Q09 1Q10

Adjusted EBITDA (R$ ‘000)

II – 1Q10 Results

12.0%

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EBITDA Margin (%)

II – 4Q09 Results

65.7%

63.6%

60,0%

62,0%

64,0%

66,0%

68,0%

70,0%

1Q09 1Q10

-2.1 p.p

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(13,303)

(23,487)(25.000)

(20.000)

(15.000)

(10.000)

(5.000)

-

1Q09 1Q10

Net Financial Results (R$ ‘000)

II – 1Q10 Results

76.6%

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11,133

14,450

-

2.000

4.000

6.000

8.000

10.000

12.000

14.000

16.000

1Q09 1Q10

Net Profit

(R$ ‘000)

II – 1Q10 Results

29.8%

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464,600451,150

1.94x

1.82x

1,5

2

2,5

3

3,5

-

100.000

200.000

300.000

400.000

500.000

600.000

4Q09 1Q10

Net Debt (R$ ‘000) & Net Debt / EBITDA

III – Debt

-2.9%

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IV – Capex

Balance of Investments in Fixed Assets

Triunfo 46,750 3.4%

Concer 361,594 26.6%

Concepa 324,971 23.9%

Econorte 213,211 15.7%

Portonave 163,874 12.1%

TPI-Log 106,892 7.9%

Santa Rita 79,863 5.9%

Total 1,357,688 100.0%

BALANCE OF INVESTMENTS IN FIXED ASSETS IN 2010

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IV – Capex

Investment in Fixed Assets

Triunfo 1.393 5,5%

Concer 2.333 9,3%

Concepa 2.754 10,9%

Econorte 2.298 9,1%

Portonave 1.653 6,6%

Santa Rita 576 2,3%

Vessel 4.782 19,0%

NTL 2.233 8,9%

Other Investments 7.134 28,4%

Total 25.156 100,0%

INVESTMENTS IN FIXED ASSETS IN 2010

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www.tpisa.com.br

Tr iunf o São Paulo

Rua Olimpíadas 205 14º andar cj. 1402

CEP 04551-000 São Paulo SP BRFone 55 11 2169 3999

Fax 55 11 2169 3969

Rua Olimpíadas 205 14º andar cj. 1402 CEP 04551-000 São Paulo SP BR

Fone 55 11 2169 3999 Fax 55 11 2169 3939

www.triunfo.com