Investor Presentaiton

ФИ Ports PORT OF SANTOS Divestiture in Santos Port Authority (SPA) + concession of the Public Port administration MODEL: Multi-stage (high sealed bids and subsequent "live" bidding) AUCTION CRITERIA: Highest concession fee CONCESSION AGREEMENT TERM: 35 years, extendable for up to 5 years EXPECTED INVESTMENTS (CAPEX+OPEX): USD 3,2 billion STATUS: After the conclusion of the public consultation, the studys are being reviewed. The next step is the protocol at the Court of Accounts (TCU) Public Consultation concluded on March, 23th CONCESSION FEE: Fixed contribution: minimum bonus of BRL 1,383,172,500 (USD 276 million), plus any goodwill, to be paid at the beginning of the concession period + fixed contribution of 25 annual installments of BRL 63,326,900 (USD 12 million) each, to be paid from the 8th year until the 32nd year of the Concession Agreement Variable contribution: 4.50% of the gross revenue earned in the previous year Escrow account: BRL 200,000,000 (USD 40,000,000) at the beginning of the concession period Offer to employees/retired employees: 10% of the Federal Government's shares 25

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