2Q12 and 1H12

Earnings

Presentation

Forward-Looking Statements

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. The information is presented in proportion to the participation of Triunfo in each subsidiary. The

operational numbers correspond to 100% of the business. The information includes the performance of the subsidiary Rio Verde.

I – Highlights

Highlights 2Q12

Net Revenue grew 38.7% compared to 2Q11, reaching R$225.7 million (R$ 191 million

excluding construction, 21.7% higher than 2Q11).

Traffic volume increased 5.2%, totaling 18.9 million equivalent vehicles.

Containers handled at Portonave reached 140,779 TEUs, a 2.6% growth. Storage and other

services revenue grew 37.7%

Assured Energy Sold was 148,075 MWh, 6.3% higher than 2Q11.

Cabotage reached 10,023 TEUs handled, R$15.9 million net revenue.

Adjusted EBITDA was R$88.7 million in 2Q12, 24.4% above the prior year. Margin improved

100 bps to 46.3%. EBITDA LTM totaled R$ 389 million.

The Dividend Calculation Base was R$ 8.9 million for the quarter, R$ 40.8 million

accumulated in 1H12.

Highlights 2Q12

Portonave, for the second consecutive year, was awarded the only Brazilian port terminal listed among

the world's best port operators, equally according to Containerisation International Awards 2012 – award

conducted by the prestigious British magazine and according to Lloyd’s List.

Concepa, was considered the best highway in the south of Brazil and Concer, was considered the best

highway in Rio de Janeiro, both by Guia Estradas 2012-2013, a supplement of Quatro Rodas magazine

On June 14, 2012, the Aeroportos Brasil Viracopos S.A. signed with ANAC the concession contract for

the expansion, maintenance and operation of the International Airport of Campinas (Viracopos), for the upcoming

30 (thirty) years. Triunfo holds indirectly 23% of the Concessionaire.

On June 5, 2012, (BNDES) approved R$ 368 million long-term financing line to Triunfo’s subsidiary Rio

Canoas Energia S.A. Amortized over 16 years, it will be used to settle the Company’s bridge loan and to finance

the final implementation of the Garibaldi Hydroelectric Plant.

On August 7, 2012, was approved the second public issue of simple, unconvertible debentures, in two

series, by Rio Canoas Energia S.A., in the amount of R$ 100 million.

I – Results

2Q12 and 1H12

174212

351435

5

34

34

63

2Q11 2Q12 1H11 1H12

Gross Revenue without Construction Construction of Assets in Toll Roads

Gross Revenue from Operations

37.6% * 29.6% *

385

498

246 179

* Variation of total Gross Revenue.

Breakdown Gross Revenue

ex construction (%)

Gross Revenue

(R$ million)

57%

23%

13%

7%

Toll Roads Port Energy Cabotage

Toll Roads – 2Q12

Traffic – Equivalent Vehicles

(million) - corresponds to 100% of the business.

Revenue Toll Roads* (R$ million)

corresponds to the participation of Triunfo in the

business

5.2% 6.4%

10.0%

11.4%

38

40

1H11 1H12

18 19

2Q11 2Q12

219

244

1H11 1H12

105

115

2Q11 2Q12

* Excluding construction and other revenues

33%

40%

3%

24% Handled Containers Revenue

Storage Revenue and OthersRevenues

Services Revenue - Iceport

Own cargo Revenues (tradingcompany)

261

280

1H11 1H12

137 141

2Q11 2Q12

4246

79

98

2Q11 2Q12 1H11 1H12

14 15 28 30

14 19

29 39

2Q11 2Q12 1H11 1H12

Handled Containers Revenue Storage Revenue and Others Revenues

Port Management - 2Q12

2.6% 7.3%

11.4%

Container Handling - TEUs (‘000)

corresponds to 100% of the business.

Total Gross Revenue - Port Segment (R$ million)

corresponds to the participation of Triunfo in the

business.

1H12 Breakdown Revenue (%)

Revenue from Handling and from Other Port Operation

(R$ million)

corresponds to the participation of Triunfo in the business.

9.2%

37.7%

9.9%

33.7%

23.5%

277

296

1H11 1H12

139

148

2Q11 2Q12

48

58

1H11 1H12

24

30

2Q11 2Q12

Energy Generation – 2Q12

6.3%

6.9% 24.9%

20.8%

Assured Energy Sold (‘000 Mwh)

Gross Revenue (R$ million)

6.2

10.0

1Q12 2Q12

Cabotage – 2Q12

62.7%

Container Handling - TEUs (‘000)

corresponds to 100% of the business.

13

19

1Q12 2Q12

46%

Container Handling Revenue (R$ million)

corresponds to the participation of Triunfo in the

business.

Cabotage is in ramp-up period

Viracopos Airport

On July 14, Aeroportos Brasil Viracopos S.A. (Concessionaire) signed the concession contract for

expansion, maintenance and operation of Viracopos International Airport for the next 30 years.

Triunfo has a participation of 23% in this business.

Investments of R $ 1.4 billion are planned for the first phase of the project: (i) R $ 450 million

equity (this amount, approximately $ 100 million related to participation of Triunfo in the business,

have been contributed to resources of the Promissory Notes issued in May), and (ii) R $ 1.0 billion

through BNDES.

For this first phase are expected: (i) new terminal to 14 million passengers, (ii) 28 fingers for

airplane, and (iii) parking;

The beginning of construction is planned for August 2012, after the installation license is released.

The Concessionaire operation responsibilities start in November 2012.

161

199

1H12 1H11

71

89

2Q12 2Q11

23.1% 24.4%

50.5% 50.7%

45.3% 46.3%

Adjusted EBITDA – 2Q12

Adjusted EBITDA (R$ million)

(in R$ thousands) 2Q12 2Q11 D 1H12 1H11 D

Net Operating Revenue ex construction 191,448 157,304 21.7% 393,374 318,326 23.6%

Operational Cost - Cash (74,679) (52,043) 43.5% (147,613) (98,099) 50.5%

Operational Expenses - Cash (28,074) (33,569) -16.4% (47,294) (58,549) -19.2%

Non-recurring Expenses (Revenues) 25 (366) -106.8% 182 (354) -151.4%

Adjusted EBITDA 88,720 71,326 24.4% 198,649 161,324 23.1%

Adjusted EBITDA Margin 46.3% 45.3% 1.00 p.p. 50.5% 50.7% -0.18 p.p.

Adjusted EBITDA – 2Q12

Adjusted EBITDA (R$ million)

71.3

88.7

12.24.9

3.9

(2.7) (0.9)

Excluding the impact of the Exchange Rate, the financial result in 2Q12 was R$ 34.4 million,

compared to R$ 34.0 million in 2Q11.

Improved profile of Debt:

The annualized cost of debt fell from 16.2% to 11.1%.

In the beginning of July, the Company completed the first issue of debentures of Portonave

to prepay the Portonave’s debt linked to the US Dollar.

Net Financial Results

(in R$ thousands) 2Q12 2Q11 D 1H12 1H11 D

Financial Income (46,036) (30,662) 50.1% (80,180) (63,855) 25.6%

       Financial Revenue 8,971 2,150 317.3% 11,629 4,379 165.6%

       Financial Expenses (43,390) (36,184) 19.9% (83,537) (73,569) 13.5%

       Exchange Rate Variation (11,617) 3,372 n/c (8,272) 5,335 n/c

17

9

2Q11 2Q12

4241

1H11 1H12

Net Profit

(R$ million)

Dividend Basis

(R$ million)

Net Profit and Dividend Basis

-2.3%

-46.2%

-44.4%

8

5

1H11 1H12

0.3

-10

2Q11 2Q12

Dividends

DIVIDEND BASIS (in R$ thousands) 2Q12 2Q11 D 1H12 1H11 D

Net Income/Loss (10,391) (333) 3020.4% 4,590 8,252 -44.4%

Unrecognized Investments 34 (468) n/c 43 (569) n/c

Realization of Revaluation Reserve 11,023 11,453 -3.8% 20,918 21,882 -4.4%

Realization of Asset Valuation Adjustment 7,763 6,355 22.2% 15,527 12,629 22.9%

Creation of Legal Reserve (5%) 518 (384) -234.9% (232) (384) -39.6%

Dividend Basis 8,947 16,623 -46.2% 40,846 41,810 -2.3%

R$ 20.4 million interim dividends will be paid (R$ 0.14 per share) representing 50% of the R$ 40.8 million 1H12 Dividend Base – 3.7% annualized dividend

yield*.

* Compared to R$ 7.50 share price, in June, 30,2012.

ENERGY

ROAD

SEGMENT

PORT

COMPANY

SUBTOTAL PARENT COMPANY

CABOTAGE

SEGMENT

TOTAL

2012 200,438 59,810 11,521 271,769 334,184 43,767 649,720

2013 30,739 62,058 24,222 117,019 39,644 27,592 184,255

2014 28,461 55,148 23,044 106,653 4,549 27,592 138,794

2015 25,832 73,739 23,044 122,615 48,745 9,621 180,981

2016 22,974 89,756 0 112,730 48,745 729 162,204

After 2016 211,672 15,549 0 227,221 93,719 7,104 328,044

Gross Debt 520,116 356,060 81,831 958,007 569,586 116,405 1,643,998

ENERGY

ROAD

SEGMENT

PORT

COMPANY

SUBTOTAL PARENT COMPANY

CABOTAGE

SEGMENT

TOTAL

Net Debt 500,721 315,006 68,261 883,988 452,692 114,913 1,451,593

EBITDA (LTM) 70,895 313,890 77,322 462,107 n/c n/c 389,276

Net Debt / Adjusted

EBITDA (LTM) 7.06 1.00 0.88 1.91 n/c n/c 3.73

DEBT AMORTIZATION (in R$ thousands) and Leverage

Net Debt – 2Q12

* The short-term debt of $ 650 million, includes:

1 - Bridge Loans, Rio Canoas in the amount of R$189 million, which will be amortized when the long-term loan from BNDES, approved on

06/16/2012, will be released, until September, .

2 - Promissory Notes in the amount of R$ 299 million, which will be amortized in October, after completion of a long term debt by the

Company.

CAPEX – 2Q12

INVESTMENTS IN FIXED AND INTANGIBLE ASSETS 2Q12

(in R$ thousands) 2Q12 % 1H12 %

Concer 7,453 5.3% 14,681 5.1%

Concepa 15,569 11.1% 31,834 11.0%

Econorte 11,939 8.5% 17,461 6.0%

Portonave 8,715 6.2% 19,054 6.6%

Portonaus 382 0.3% 7,434 2.6%

Santa Rita 797 0.6% 1,846 0.6%

Cabotagem 645 0.5% 721 0.2%

Rio Canoas 85,670 61.3% 182,204 62.7%

Rio Verde 0 0.0% 31 0.0%

Parent Company and Other Investments 8,654 6.2% 15,154 5.2%

Total Capex 139,823 100.0% 290,420 100.0%

IR Team

Sandro Lima – CFO and IR Officer

João Patah – IR Manager

Luana Mota – Analyst

Melina Rodrigues – Analyst

Contact: ri@triunfo.com

+55 11 2169 3999

Rua Olimpíadas, 205 - Conjunto 142/143

Vila Olímpia - São Paulo, Brazil - 04551-000

www.triunfo.com/ri