The document provides an earnings presentation for Triunfo Participações e Investimentos S.A. for 4Q12 and full year 2012. Some key highlights include: - Traffic across segments grew 6.4% in 4Q12 and 6.6% for the full year. - Net operating revenue increased 13.9% in 4Q12 and 20.6% for the full year. - Adjusted EBITDA grew 2.4% in 4Q12 to R$119.8 million and increased 19.2% for 2012 to R$419.5 million. - Capex totaled R$312.8 million in 4Q12 and R$766.9 million for the

1. 4Q12 and 2012 Earnings Presentation

2. Forward-Looking Statements
2
This presentation 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 exclusivelyon the expectations of the Company’s managementconcerning the future of
the business.
Such forward-looking statements depend substantially on changes in marketconditions, the
performance of the Brazilian economy, the sector and the international markets, and are,
therefore, subjectto changes withoutprevious notice.
The consolidated financial 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 subsidiaries Rio Verde and Rio Canoas.

3. Highlights 4Q12 e 2012
3
•Traffic: 21.7million vehicle equivalentunits, (+6.4%) in 4Q12 . In the year, 82.0 million vehicle
equivalentunits (+6.6%) from2011.
•Net operating revenue reaches R$229.4 million (+13.9%) in 4Q12 and R$834.9 million (+20.6%) in 2012.
•ContainerhandlingatPortonave: 161,400TEUs in 4Q12 (+10.7%). In 2012, containerhandling
totaled620,000TEUs, (+13.7%) from2011.
•Assuredenergysales in 2012 totaled595,000MWh, up 4.4% on 2011.
•Cabotagevolume in theyear reached40,811TEUs.
•ViracoposAirporthandled8.9 million passengersand 265,000tonsofcargo.
•The dividend calculation base was R$80 million in 2012. In 2012, the Company distributed R$48.8
million in dividends, with an annualized dividend yield of 2.7%.
•The Adjusted EBITDA totaled R$119.8 million (+2.4%). EBITDA margin in the period was 52.2%.
EBITDA in 2012 totaled R$419.5 million (+19.2%).

4. 201.4
229.4
4Q11 4Q12
692.1
835.0
2011 2012
Adjusted Net Revenue
20.6%
13.9%
Breakdown Net Revenue 4Q12 - (%)
Excluding construction revenue
Net Revenue - (R$ million)
Excluding construction revenue
4
56%
21%
11%
8%
4%
Toll Roads Port Energy Cabotage Airport

5. Toll Roads Segment
4Q12 and 2012 Results

6. 111.5
128.1
4Q11 4Q12
410.1
462.0
2011 2012
20.4
21.7
4Q11 4Q12
76.9
82.0
2011 2012
Toll Roads Segment – 4Q12
Traffic of Equivalent Vehicles - (million)
Corresponds to 100% of the business.
Net Revenue (1) – (R$ million)
Corresponds to the Triunfo Stake in the business.
6.6%
6.4%
12.6%
14.8%
6
(1) Excluding constructionrevenue.

7. Port Segment
4Q12 and 2012 Results

8. 545.2
620.0
2011 2012
145.8
161.4
4Q11 4Q12
54.5
47.9
4Q11 4Q12
173.4
194.2
2011 2012
Port Segment – 4Q12
13.7%
10.7%
Container Handling - TEUs (‘000)
Corresponds to 100% of the business.
Net Revenue - (R$ million)
Corresponds to the Triunfo Stake in the
business.
12.0%
-12.0%
8

9. Energy Generation
4Q12 and 2012 Results

10. 570.6
595.6
2011 2012
149.6 149.6
4Q11 4Q12
91.4
103.7
2011 2012
24.4
25.1
4Q11 4Q12
Energy Generation – 4Q12
Assured Energy Sold - (‘000 Mwh) Net Revenue - (R$ million)
4.4%
13.5%
2.7%
10

11. Cabotage
4Q12 and 2012 Results

12. Cabotage – 4Q12
Container Handling - TEUs (‘000)
Corresponds to 100% of the business.
Net Revenue - (R$ million)
Corresponds to the Triunfo Stake in the
business.
12
5.8
11.2
4Q11 4Q12
8.8
40.8
2011 2012
10.9
19.0
4Q11 4Q12
17.2
65.8
2011 2012

13. w
Título da Apresentação
Aqui fica o subtítulo.
Airport Segment
4Q12 and 2012 Results

14. Airport Segment – 4Q12
Passengers - (million)
Corresponds to 100% of the business.
Breakdown Gross Revenue
Corresponds to the Triunfo Stake
in the business.
17.0%
13.5%
14
2.0 2.2
7.6
8.8
4Q11 4Q12 2011 2012
24%
71%
5%
Passengers Revenue
Cargo Revenue
Commercial Revenue
Note: The ConcessionaireAeroportosBrasilstarted to consolidate costsand revenues on 14.11.2012

15. Consolidated Performance
4Q12 and 2012 Results

16. 117.0
119.8
4Q11 4Q12
352.0
419.5
2011 2012
Adjusted EBITDA
EBITDA per Segment - (R$ million)Adjusted EBITDA - (R$ million)
19.2%
2.4%
16
94.3
23.0
14.6 2.2
-8.6 -5.7
119.8
Toll Roads Port Energy Airport Cabotage Parent Company EBITDA 4Q12
Adjusted EBITDA refers to earnings before interest, taxes, depreciation and amortization, adjusted for the Provision for Maintenance – IAS 37 (a non-cash item
included in Operating Costs), non-recurring expenses, minority interest and equity income from unconsolidated operations. To calculate EBITDA margin, we
used Adjusted NetRevenue (excluding construction revenue, which is an accounting effectwith no cash impact) as the denominator.

17. Financial Income
17
(R$ million ) 4Q12 4Q11 D 2012 2011 D
Financial Income (58.3) (39.5) 47.4% (180.8) (155.9) 16.0%
· FinancialRevenue 8.6 6.3 35.7% 26.6 16.3 62.6%
· FinancialExpenses (66.5) (43.4) 53.5% (197.4) (156.8) 25.9%
· ExchangeRateVariation (0.3) (2.5) -86.3% (10.0) (15.4) -34.9%

18. 18
Dividend Basis
*Resultof unrecognized investmentrefersto adjustmentof netconsolidatedprofitfor the parentcompany.
DIVIDEND BASIS (in R$ thousands) 4Q12 4Q11 D 2012 2011 D
Net Income/Loss 8,485 28,942 -70.7% 9,272 22,363 -58.5%
Unrecognized Investments 4 2 100.0% - -561 n/c
Realization ofRevaluation Reserve 9,528 10,156 -6.2% 39,744 42,661 -6.8%
Realization ofAssetValuation Adjustment 7,763 6,255 24.1% 31,053 25,157 23.4%
Creation ofLegal Reserve (5%) (425) (1,090) -61.0% (464) (1,090) -57.4%
Dividend Basis 25,355 44,265 -42.7% 79,605 88,530 -10.1%

19. Net Debt
19
DEBT AMORTIZATION AND LEVERAGE
• The leverage levels of the highways and portsegmentsremain low, at1.01xand 1.40x, respectively.
• The power generation segment’sdebtprofile, which is leveraged at9.37x, reflects the characteristics of the business: long-termamortization, high initial
investmentcosts, and predictable and stable cash flowafter operational start-up.
*31.12.2012
(R$ thousands)
ENERGY
ROAD
SEGMENT
PORT
COMPANY
AIRPORT SUBTOTAL
PARENT
COMPANY
CABOTAGE
SEGMENT
TOTAL
2013 22,110 130,375 27,949 7 180,441 44,507 17,734 242,682
2014 48,458 50,338 25,014 10,994 134,804 4,509 55,699 195,012
2015 57,393 72,487 33,176 - 163,056 73,788 27,794 264,638
2016 39,389 89,611 30,806 - 159,806 275,510 22,915 458,231
2017 43,589 14,974 21,326 - 79,889 271,115 22,915 373,919
Após 2018 469,890 88 0 - 469,978 47,926 6,692 524,596
Gross Debt 680,829 357,873 138,271 11,001 1,187,974 717,355 153,749 2,059,078
(R$ thousands)
ENERGY
ROAD
SEGMENT
PORT
COMPANY
AIRPORT SUBTOTAL
PARENT
COMPANY
CABOTAGE
SEGMENT
TOTAL
Net Debt * 656,630 338,992 118,373 -46,551 1,067,444 649,412 152,362 1,869,218
EBITDA LTM 70,105 335,927 84,746 n/c 490,778 n/c n/c 419,526
Net Debt/EBITDA LTM 9.37 1.01 1.40 n/c 2.18 n/c n/c 4.46

20. Capex
20
4Q12: R$ 312.8 million 2012: R$ 766.9 million
5%
6%
5%
7%
1%
0,5%
53%
20%
1%
Concer Concepa
Econorte Portonave
Portonaus Cabotagem
Rio Canoas Aeroportos Brasil Viracopos
ParentCompany and other investments
6% 8%
6%
6%
2%
0,3%
60%
0,1%
10%
3%
Concer Concepa
Econorte Portonave
Portonaus Cabotagem
Rio Canoas Rio Verde
Aeroportos Brasil Viracopos ParentCompany and other investments

21. IR Team
Sandro Lima – DRI e CFO
Marcos Pereira
Luana Mota
Melina Rodrigues
Contact: ri@ triunfo.com
+55 11 2169 3999
Rua Olimpíadas, 205 - Conjunto142/143
Vila Olímpia- São Paulo - CEP 04551-000
21