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EXECUTIVE SUMMARY Traffic and Revenues Equivalent Axles Projections (millions of axles p.a.) Growth x GDP (in equivalent axles) 350 300 250 200 150 145 0 136 141 146 151 155 158 164 169 175 183 189 195 201 208 215 222 229 236 245 252 262 272 280 287 296 305 314 323 332 100 50 91 83 86 89 93 95 97 101 104 108 113 118 122 126 131 136 140 145 151 157 162 170 177 183 189 195 201 208 214 221 55 54 55 57 58 60 61 63 65 67 69 71 73 75 77 79 81 83 85 88 90 93 95 97 99 101 104 106 108 111 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Type of Vehicle (in equivalent axles) Average Growth Traffic/GDP Traffic GDP Light Vehicles 2.45% 0.98 Commercial Vehicles 3.13% 2.5% 1.25 Total 2.89% 1.15 Light x Commercial Breakdown | Total 36% Light Vehicles Commercial Vehicles O Total Equivalent Vehicles 64% Revenues | Existing x New Toll Plazas (BRL mln) 2,500 In the 1st year, only existing toll plazas operate. 1,989 2,000 1,876 41,130 45,000 2,107 40,000 Light Vehicles ■Commercial Vehicles 1,765 1,596 35,000 1,500 1,049 1,137 1,214 1,294 850 902 962 1,000 405 426 471 525 500 ㅁ 412 445 476 491 524 561 599 639 [ l l l l l l l l l l l 742 1,379 1,468 Existing x New Toll Plazas 30,000 929 1,009 1,070 1,133 Revenue Breakdown 25,000 697 20,000 681 726 774 836 867 920 974 15,000 10,000 5,000 49% 51% 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 SÃO PAULO GOVERNO DO ESTADO Existing Toll Plazas ■New Toll Plazas ● Total Accum. Revenue Existing Toll Plazas ■New Toll Plazas ARTESP IFC International Finance Corporation BNDES IDB WORLD BANK GROUP AGÊNCIA DE TRANSPORTE DO ESTADO DE SÃO PAULO 16

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