Investor Presentaiton

Annual Income Invepar ended 2019 with a Net Loss of R$ 1.6 billion. This result includes the result of Discontinued Operations, with a loss of R$ 554.6 million, the recognition of impairment of Via 040, VLT and Cart to the sum of R$ 303.3 million, and the non-cash effect of AVP of GRU Airport's Fixed Grant. The worsening of the Net Financial Result, as explained in the previous chapter, and the increase in deferred IRPJ and CSLL in GRU Airport also influenced this result, due to the review of the tax base and decreased likelihood that the deferred tax assets will be recovered. Net Financial Expenditure × PV Restatement Fixed GRU Concession in 2019 GRU Concession PV Restatement 50% 50% Annual Income (R$ Million) Profit/Loss for the Year Other Net Financial Expenses 2018 (324.0) 2019 (1,552.8) 379.4% Changes in Annual Income, 2019 (R$ Million) 1,972.0 (671.7) (897.2) (500.7) 518.1 (303.3) (236.8) (554.6) (665.8) (1,552.8) 8.4 (887.0) Adjusted EBITDA, 2018 Fixed GRU Concession Amortization Financial Income (except GRU Fixed Concession PV rest.) Depreciation & Amortization (except GRU Fixed Concession amort.) Income Tax Non-controlling & Social Interests Contributions IFRS adjustments Discontinued and Impairment Operation Asset for Sale Result before GRU Fixed Concession PV rest. Fixed GRU Concession Loss 2019 PV rest. Contents Message from the CEO Message from the Board Covid-19 About this Report Invepar Invepar Management Economic and Financial Performance Invepar Performance Revenues Costs and Expenses | 117 EBITDA Results Cash Flow and Indebtedness Other Topics Investments and Divestments Credits GRI Index 2019 AR invepar

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