Triunfo Participações e Investimentos S A : Apresentação de Resultados 3Q22

Earnings Presentation 3Q22/9M22

Disclaimer

The financial information in this presentation is pro forma and consolidated in proportion to Triunfo's interest in each business, while the operating information reflects the entire businesses. The results of the period, compared to the accounting values do not change due to the consolidation method. The net revenue figures reported herein exclude construction revenue (adjusted net revenue) , except where stated otherwise. Results are compared with the same period last year, except where stated otherwise.

This presentation may include forward-looking statements based largely on our current expectations and projections of future events and financial trends that affect or may affect our business. Although we believe these estimates and forward-looking statements are based on reasonable assumptions, many important factors could significantly affect our operating results. Any forward-looking statements, according to the definition under the U.S. Private Securities Litigation Reform Act of 1995, involve diverse risks and uncertainties and there is no guarantee that these results will materialize.

Consolidated Performance

Adjusted Net Revenue and EBITDA

Adjusted Net Revenue - Pro Forma1 (R$ million)

Excluding construction revenue, Portonave, Airport and Concepa

	6.1%
		60.1%
912	967	856
		535

2020 Pro Forma

2021

9M21 Pro Forma

9M22

Adjusted EBITDA

Net Revenue Breakdown

Excluding construction revenue

Energy

11%

9M22

Toll Roads

89%

Adjusted EBITDA Breakdown

(R$ million)

+7.5%

42.4%

Excluding holding

Energy

16%

408438

269

189

2020 Pro Forma

2021

9M21 Pro Forma

9M22

9M22

Toll Roads

84%

1- Excludes December 2020 and 3Q21 for Triunfo Econorte, as the Concession contract ended in November 2021

Main Figures - 9M22/9M21

Main Figures (in R$ thousand)	3Q22	3Q21		3Q21 Pro		9M22	9M21		9M21 Pro
	Forma			Forma
Adjusted Net Revenue	182,512	261,254	-30.1%	191,984	-4.9%	856,151	731,418	17.1%	534,819	60.1%
Toll Roads	147,282	229,825	-35.9%	160,555	-8.3%	759,596	639,828	18.7%	443,229	71.4%
Energy	35,230	31,429	12.1%	31,429	12.1%	96,555	91,590	5.4%	91,590	5.4%
Adjusted EBITDA*	100,395	158,102	-36.5%	78,594	27.7%	269,436	344,784	-21.9%	189,174	42.4%
Toll Roads	87,424	148,461	-41.1%	68,953	26.8%	238,457	322,079	-26.0%	166,469	43.2%
Energy	17,440	15,156	15.1%	15,156	15.1%	46,714	40,607	15.0%	40,607	15.0%
Holding and Other	(4,469)	(5,515)	-19.0%	(5,515)	-19.0%	(15,735)	(17,902)	-12.1%	(17,902)	-12.1%
Financial Result	(13,535)	33,855	n/c	53,346	-125.4%	(131,544)	(20,932)	n/c	(20,208)	551.0%
Toll Roads	(13,076)	29,939	n/c	30,079	-143.5%	(131,374)	(44,199)	197.2%	(43,475)	202.2%
Energy	522	54	n/c	51	923.5%	688	51	n/c	51	1249.0%
Holding and Other	(981)	3,862	n/c	23,216	-104.2%	(858)	23,216	n/c	23,216	-103.7%
Net Income (Loss)	(56,712)	88,763	-163.9%	95,929	-159.1%	21,485	34,768	-38.2%	18,204	18.0%
Toll Roads	(63,844)	81,585	n/c	88,751	-171.9%	9,670	5,821	66.1%	(10,743)	-190.0%
Energy	11,787	10,003	17.8%	10,003	17.8%	30,636	26,534	15.5%	26,534	15.5%
Holding and Other	(4,655)	(2,825)	64.8%	(2,825)	64.8%	(18,821)	2,413	n/c	2,413	-880.0%
Adjusted EBITDA Margin	55.0%	60.5%	-5.5pp	40.9%	14.1pp	31.5%	47.1%	-15.7pp	35.4%	-3.9pp
Toll Roads	59.4%	64.6%	-5.2pp	42.9%	16.4pp	31.4%	50.3%	-18.9pp	37.6%	-6.2pp
Energy	49.5%	48.2%	1.3pp	48.2%	1.3pp	48.4%	44.3%	4.0pp	44.3%	4.0pp

*Adjusted EBITDA excluding construction margin, non-recurring revenues (expenses), provision for maintenance, Remuneration for Financial Asset and Excess Tariff of Triunfo Concebra, and is calculated based on the consolidated Income Statement as per Triunfo's share in each business (Proportional Consolidation Income Statement).