Results Conference Call

First Quarter 2014 (1Q14)

May 09, 2014

index

2 Investor Relations

1. 1Q14 Highlights

2. Operational and Financial Performance

3. Strategy

4. Shareholders Remuneration

5. Q & A

3

5.4% increase in tolled traffic on comparable basis

22.6% growth on net revenue

Adjusted EBITDA growth of 8.3% and 3.2 p.p. expansion on the EBITDA

Margin

Improvement of 8.8% in net profit

Record capex of R$ 376 million

Annual Shareholder's Meeting approved 50% dividends pay-out on

fiscal year 2013

1. 1Q14 Highlights

4

Average Toll Tariff (R$/Vehicle-Equivalents)

Vehicle-Equivalents (Thousand)

2. Operational and Financial Performance Tolled Traffic and Tariffs

Double-digit growth in the state concessions due to the

charge of suspended axles for heavy vehicles

Non-recurring effects on tolled traffic for Autopista Litoral

Sul and Autopista Fluminense

Toll tariffs frozen in state highway since July 2013

* Comparable basis by adjusting the non-recurring effects of the closure of the toll plazas P1 and P2 on Autopista Fluminense and toll plaza P5 on Autopista Litoral Sul

1Q13 1Q14 Var.1Q13/1Q14

Comparable Basis*

State 46,437 51,489 10.9% 10.9%Autovias 10,709 11,847 10.6% 10.6%Centrovias 12,768 14,182 11.1% 11.1%Intervias 14,601 16,197 10.9% 10.9%Vianorte 8,359 9,262 10.8% 10.8%

Federal 127,294 124,107 -2.5% 3.2%Planalto 6,906 7,245 4.9% 4.9%Fluminense 12,045 11,359 -5.7% 4.3%Fernão 39,478 40,147 1.7% 1.7%Regis 36,076 36,833 2.1% 2.1%Litoral 32,789 28,523 -13.0% 6.1%

Total 173,731 175,596 1.1% 5.4%

1Q13 1Q14 Var. 1Q13/1Q14

Estadual 6.48 6.47 -0.1%

Federal 1.85 1.95 5.3%

Total 3.09 3.28 6.1%

5

Revenue Breakdown – 1Q14

790

Toll Revenue Breakdown – 1Q14

Gross Revenue – R$ million

967

2. Operational and Financial Performance Gross Revenue

536 575

227 378

27

14

1Q13 1Q14

Toll Construction Others

6

Costs and Expenses – R$ million

2. Operational and Financial Performance Costs and Expenses

(184) (183) (172)

(341) (506) (494)

(525)

(689) (666)

35.9%

32.9% 32.7%

20%

22%

24%

26%

28%

30%

32%

34%

36%

38%

40% (1600.0)

(1400.0)

(1200.0)

(1000.0)

(800.0)

(600.0)

(400.0)

(200.0)

-

1Q13 4Q13 1Q14

Cash Cost Non Cash Costs % of Net Revenue (ex. Construction)

7

Var. 4Q13/1Q14 Var. 1Q13/1Q14 + 0.2 p.p + 3.2 p.p

Adjusted EBITDA Margin* Evolution

Adjusted EBITDA – R$ million

* The Adjusted EBITDA Margin is based on Net Operatijng Revenue, excluding Construction Revenue

2. Operational and Financial Performance Adjusted EBITDA and Adjusted EBITDA Margin*

328 374

355

64.1% 67.1% 67.3%

1Q13 4Q13 1Q14

8.3%

8

Net Income – R$ million

8.8%

2. Operational and Financial Performance Net Income

93

138

101

1Q13 4Q13 1Q14

9

51.7% 39.0%

9.3%

TJLP CDI IPCA

Leverage Ratio and Net Debt (R$ million) Gross Debt – R$ million

Debt Amortization Schedule – R$ million Gross Debt Profile

303

779 766 751

464

218 234 251 270 290 220

67 19

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

2. Operational and Financial Performance Indebtedness

51.7% 48.2%

0.1%

BNDES Debentures Other

457 288 404

2,721 3,836

4,228

3,178

4,125 4,632

1Q13 4Q13 1Q14

Long term

Short term

2,488

3,084 3,258 2.0 2.3 2.4

1Q13 4Q13 1Q14Net DebtNet Debt/Adjusted EBITDA - Fixed Concession Charge (last 12 months)

10

266,368 310,685

347,042

403,979 375,760

Intangible and Fixed Assets and Maintenance – R$ million

For 2014 the Company estimated around R$ 1.8 billion in investments and by the end of all concessions R$ 6.5 billion

2. Operational and Financial Performance Capex

245,660 293,902 329,585

382,393 355,813

20,708

16,783 17,457

21,586 19,947

1Q13 2Q13 3Q13 4Q13 1Q14Intangible and Fixed Assets Maintenance

Capex delivery Economic, social and environmental sustainability

Efficient Operations Focus on quality of service to users. Comfort and safety Strengthening of corporate image and social and corporate responsability

Long-term strategy focused on 3 vectors

11

3. Arteris Strategy

Serra do Cafezal Duplication (SP) BR-101 Duplication (RJ)

Betim beltway (MG) Access to Ribeirão Preto (SP)

12

3. Arteris Strategy Capex

12

Contorno Avenue – Niterói (RJ) BR-116 duplication (PR)

Florianópolis beltway (SC) Campos de Goytacazes beltway (RJ)

13 13

3. Arteris Strategy Capex

14 14

3. Arteris Strategy Strengthening of corporate image

A more efficient organization

Commitment to improve security:

– To reduce the numbers of accidents and deaths on the roads

Redefinition of corporate policies and controlling shareholders ´s best practices

model as benchmark

– Focus on manageable costs

– Centralized purchasing

– Shared Services Center

– SAP implementation

– Toll collection process improvement

Remuneration based on performance

Goal is to reduce R$ 60 million per year on cash costs after the full

implementation of the efficiency plan 15

3. Arteris Strategy Efficient Operations

Adjusted Net Income (ex legal reserve) and Dividends (R$ million)

50% 50% Payout 25%

Divi

dend

s

Adju

sted

Net

Inco

me

16

195 185 203

371 370 406

2011 2012 2013E

53%

4. Shareholders Remuneration Dividends

Dividends

Thank you!

www.arteris.com.br/ir