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Investor Presentaiton

APPENDIX LOGISTICS INDUSTRY IN BRAZIL - INVESTMENT The high representativeness of road transport and the continental dimension of the country require an ever larger, efficient and better distribution of warehouse throughout the country. Log commercial properties Domestic cargo handling (in billions of TKUS) 1,130 1,064 1,021 936 LLLL 278 341 204 58 1 298 307 162 187 190 49 49 54 1 1 1 2010 2012 2014 2016 Ductwork Air 12.0 5.9 Expected Logistics Investment 2018 - R$ billion Public 5.86 4.7 Private 1.01 0.47 32.9 6.1 4.79 0.91 4.27 0.5 1.99 0.5 Road Railway Air Ports Waterway ■Road Railway Waterway 63% of the total cargo transportation in Brazil in 2016 was carried out by highways In 2017, approximately 77% of the total government resources allocated to the transportation sector were invested in highways. In 2018, the government will invest 67% of the transportation budget on roads. If we consider private investment as well, 46% of the funds will go to the roads. Sources: Confederação Nacional das Indústrias (CNI), Confederação Nacional dos Transportes (CNT) and Magazine Valor Setorial_Oct/17 29 22
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