1. 3Q11 Earnings Results

2. Disclaimer
This presentation may contain certain forward-looking projections and trends that neither
represent realized financial results nor historical information.
These forward-looking projections and trends are subject to risk and uncertainty, and future
results may differ materially from the projections. Many of these risks and uncertainties are
related to factors that are beyond CCR’s ability to control or to estimate, such as market
conditions, currency swings, the behavior of other market participants, the actions of
regulatory agencies, the ability of the company to continue to obtain financing, changes in
the political and social context in which CCR operates or economic trends or conditions,
including changes in the rate of inflation and changes in consumer confidence on a global,
national or regional scale.
Readers are advised not toFully trust these projections and trends. CCR is not obliged to
publish any revision of these projections and trends that should reflect new events or
circumstances after the realization of this presentation.
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3. Agenda
3Q11 Earnings Results
Analysis of the Results
Prospects
3

4. Highlights
TRAFFIC:
Growth of 10.7% in 3Q11 and 13.2% in 9M11. Regarding the same
traffic base, we recorded a growth of 4.4% and 6.1%, respectively.
 ELECTRONIC TOLL COLLECTION:
Electronic toll collections stood at 66.4% in 3Q11 (61.4% in 3Q10),
with the number of users of the STP system expanding by 30.2%
compared to September 2010, reaching active active 3,048,000 tags.
EBITDA and EBITDA MARGIN
Growth of +41.5% of EBITDA in 3Q11, with a margin of 67.0%, up
7.5 p.p.
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5. 3T11’s Earnings Highlights
Strong expansion of EBITDA as a result...
Financial Indicators (R$ MM) 3T10 3T11 Var % 09M10 09M11 Chg%
Net Revenues (1) 978,4 1.228,5 25,6% 2.715,4 3.352,1 23,5%
Total Costs (2) (497,5) (576,2) 15,8% (1.328,6) (1.734,8) 30,6%
EBIT(3) 480,9 652,4 35,7% 1.386,7 1.617,4 16,6%
EBIT Mg. 49,2% 53,1% +3,9 p.p 51,1% 48,2% -2,9 p.p
Non Cash Costs and Expenses (4) 101,1 170,9 69,1% 272,2 528,9 94,3%
EBITDA 582,0 823,3 41,5% 1.658,9 2.146,3 29,4%
EBITDA Mg. 59,5% 67,0% +7,5 p.p 61,1% 64,0% +2,9 p.p
Net Financial Result (69,2) (270,6) 291,3% (370,2) (685,8) 85,2%
Net Profit 271,2 266,6 -1,7% 656,1 604,7 -7,8%
(1) Net Operational Revenues excludes Construction Revenues
(2) Cost of Services and Administrative Expenses excluding Construction Costs
(3) EBIT= Net Revenue + Construction Revenue - Total Costs
(4) D&A + Prepaid Expenses + Maintanance Provision
... of the growth of traffic and cost discipline.
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6. Analysis of the Results

7. Traffic – Annual Change
Consolidated
234,922
224,970
178,663
156,084
142,565
133,386
3Q06 3Q07 3Q08 3Q09 3Q10 3Q11
3Q11 Revenue and Traffic – Change per Concessionaire
15.6% 15.5%
13.0%
11.7%
10.7% 10.2%
9.7%
8.3%
7.1%
6.2%
4.9% 5.4%
4.6% 4.4%
2.8% 2.4%
AutoBan Ponte NovaDutra Renovias RodoAnel RodoNorte ViaLagos ViaOeste
Traffic Toll Revenue 9

8. Analysis of Revenue
Means of Payment – 3Q11 Revenue Breakdown – 3Q11
Others, 4.4
38.9% 33.6%
45.6% 42.6% %
Controlar e
STP, 4.5%
61.1% 66.4%
54.4% 57.4%
Toll:
91.1%
3Q08 3Q09 3Q10 3Q11
Eletronic Cash
Gross Operating Revenue– 3Q11 Revenue Indexer– 3Q11
ViaQuatro Others
Controlar 1.6% 4.9%
2.5%
SP Vias 8.0%
AutoBan
30.8%
38.5%
ViaOeste
61.5%
14.9%
ViaLagos
1.3% NovaDutra Ponte 2.5%
RodoNorte 19.1%
8.7%
RodoAnel Renovias
3.3% 2.4% IGPM IPCA 10

9. Revenue and Costs
Strong growth in traffic and contractual adjustment of the tariffs coupled with...
EBITDA grew 41.5%:
Traffic +10.7%
Tariff +11.3%
Increase on EBITDA margin +7.5 p.p.
Costs (R$ MM) 3Q10 3Q11 Chg% *
In line with Growth of Revenue
Total Costs (718,5) (714,7) -0,5%
Depreciation and Amortization (83,3) (108,5) 30,2%
Third-Party Services (171,0) (151,2) -11,6% Cost Reductions
Concession fee costs and prepaid expenses (80,3) (88,3) 10,0%
Personnel Costs (89,0) (115,9) 30,3%
Construction Costs (221,0) (138,5) -37,3% Under Growth of Revenue
Maintenance Provision 2,9 (41,8) n.m.
Other Costs (76,9) (70,5) -8,3% SP Vias, +5.5% labor increase and
ViaQuatro
Cost Reductions
Closer estimates than in 2010, which was the first
year of IFRS implementation
... cost discipline resulting in strong growth of EBITDA.
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10. Financial Result and Income

11. Financial Result Highlight
The higher financial result tenporarily affected profit, but reflects...
Net financial Result (R$ million) 3Q10 3Q11 %Chg. 9M10 09M11 %Chg.
Net Financial Result (69.2) (270.6) 291.3% (370.2) (685.8) 85.2%
Financial Expenses: (200.5) (362.7) 80.9% (762.0) (949.1) 24.6%
- Exchange Variation (3.0) (69.1) n.m. (151.3) (101.5) -32.9%
- Loss with Hedge Operation (29.0) (11.3) -60.9% (83.8) (50.7) -39.5%
- Monetary Variation (10.4) (5.1) -50.8% (45.7) (35.1) -23.1%
- Interest on Loans, Financing and
(134.8) (241.7) 79.3% (368.0) (652.0) 77.2%
Debentures
- Adjustment to Present Value of the
(22.5) (17.0) -24.5% (67.8) (55.0) -18.9%
Maintenance Provision
- Other Financial Expenses (0.8) (18.4) n.m. (45.5) (54.7) 20.3%
Financial Revenue: 131.4 92.1 -29.9% 391.8 263.3 -32.8%
- Gain through Hedge Operation 1.3 20.7 1502.5% 23.0 27.3 18.4%
- Exchange Variation 89.0 5.9 -93.4% 183.3 80.0 -56.4%
- Monetary Variation 0.0 0.5 n.m. 0.0 1.3 n.m.
- Others (Interest and Yields on
41.1 65.0 58.2% 185.5 154.8 -16.6%
Investments)
... the company’s period of growth
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12. Financial Result Highlight
Excluding the non-cash effect of the exchange variation, the financial result would
have been...
Net Financial Results(R$ MM) 3T10 3T11 Var% +R$ 159 M in financial expenses.
Net financial Result (69.2) (270.6) 291.3% Efeito principalmente de:
Financial Expenses: (200.5) (362.7) 80.9%
- Exchange Variation (3.0) (69.1) n.m. R$ 53 M in the exchange variation
- Loss through Hedge Operation (29.0) (11.3) -60.9% ( ViaQuatro’s debt).
- Monetary Variation (10.4) (5.1) -50.8%
- Interest on Loans, Financing and Debentures (134.8) (241.7) 79.3%
- Adjustment to Present Value of Maintenance
(22.5) (17.0) -24.5%
Provision
- Other Financial Expenses (0.8) (18.4) n.m.
Financial Revenue: 131.4 92.1 -29.9%
- Gain through Hedge Operation 1.3 20.7 1502.5%
- Exchange Variation 89.0 5.9 -93.4%
- Monetary Variation 0.0 0.5 n.m.
- Others (Interest and Yields on Investments) 41.1 65.0 58.2%
- R$ 40 M -> Acquisition of SP Vias
- R$ 24 M -> Increase in Interest
- R$ 42 M -> Cost of the new Rodoanel
debt to reduce exchange risk
...in line with the increase in the debt due to the period of expansion of CCR.
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13. Debt
Leveraging indexes are stable...
Net Debt/ EBITDA LTM
3 Pré- USD, 6.0% TJLP, 4.4%
2,5x 10,000 fixada, 7.4
2.5 2,3x 2,2x 2,3x % IGP-
8,000 IPCA, 2.4% M, 5.7%
1,9x
2
1,6x 6,186
1,5x 1,5x 5,633 5,565 5,630 6,000
1.5
4,169
3,456 4,000
1 2,905 3,067
0.5 2,000
CDI, 74.1%
0 0
4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11
Net Debt (R$ MM) Net Debt/EBITDA (x)
...even anticipating the dividends for the year.
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14. Pro Forma Income Exercise
Conducting a normalization exercise...
Financial Indicators (R$ MM) 3T10 3T11 Var % Example %Chg.
Net Revenues (1) 978,4 1.228,5 25,6%
Total Costs (2) (497,5) (576,2) 15,8% 3Q11 Reported Net Income 266.6 -1.7%
EBIT(3) 480,9 652,4 35,7%
EBIT Mg. 49,2% 53,1% +3,9 p.p Were the exchange rate to remain
Non Cash Costs and Expenses (4) 101,1 170,9 69,1% stable until the close of 4Q11 at
EBITDA 582,0 823,3 41,5% +35.0 M
R$ 1.85 to the dollar (including the
EBITDA Mg. 59,5% 67,0% +7,5 p.p
fiscal effect)
Net Financial Result (69,2) (270,6) 291,3%
Net Profit 271,2 266,6 -1,7%
Net Income of the Example 30.6 +11.2%
If we consider ViaQuatro in a
more stable situation (6 stations
+10.4 M
completely opened only on
October 16)
Pro Forma Net Income 312.0 +15.0%
... pro forma net income would be 15% higher.
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15. Capex
CAPEX (R$ million) 1Q11 2Q11 3Q11 9M11
AutoBAn 16.4 24.5 26.7 67.6
NovaDutra 51.7 67.1 78.7 197.5
ViaOeste 42.2 33.1 9.6 84.9
RodoNorte (100%) 3.1 4.2 2.1 9.4
Ponte 3.2 3.7 3.0 9.9
ViaLagos 0.3 0.3 0.3 0.9
SPVias 4.9 3.5 8.8 17.1
ViaQuatro (58%) 20.2 12.3 27.9 60.4
Renovias (40%) (0.2) 3.9 4.5 8.2
RodoAnel (100%) 17.4 15.9 15.0 48.3
Controlar (45%) 1.3 0.3 0.3 1.9
1
Others 8.3 11.6 10.6 30.5
Consolidated 168.8 180.3 187.4 536.5
1 – Includes CCR, CCR México, CCR USA, CPC e STP.
* Estimated amounts
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16. Prospects and Growth
Short-Medium Term Initiatives
 Negotiation contractual amendments in the states of São Paulo Rio de Janeiro;
 STP Project
 Maturation of Via Quatro – Phase1 concluded (6 stations) from 4:00 a.m. to midnight.
 Transolímpica in Rio de Janeiro
 BR 101 – RJ-BA
 Acquisitions on the secondary market;
 Airports
Long-Term Prospects
 Urban Mobility;
 Infrastructure: World Cup 2014 / Olympics 2016 – Urban Mobility;
 Federal Concessions Program;
 State Concessions Program: São Paulo and Minas Gerais.
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17. Thank you