Grupo CCR S A : 1Q23 Earnings Release

RESULTS

CCRO	Bloomberg	www.ccr.com.br/ri	Videoconference link
B3 LISTED NM	CCRO3 BZ		Click here

1Q23 RESULTS

Results for the first quarter of 2023

São Paulo, May 4, 2023

The Parent Company and Consolidated Interim Financial Information was prepared and is being presented under the accounting practices adopted in Brazil and International Financial Reporting Standards ("IFRS"), issued by the International Accounting Standards Board ("IASB"), all of which applied in a manner consistent with the main accounting practices described in Note 3 to the Interim Financial Information.

Unless otherwise stated, the financial and operating information is presented on a consolidated basis, in thousands of Brazilian reais, and the comparisons refer to 1Q22.

The consolidated information for jointly-owned subsidiaries includes the proportional data of the jointly-owned subsidiaries. Said information, as well as non-financial information and other operating information, were not audited by independent auditors.

Due to rounding, the total amounts informed in the tables of this earnings release may have slight variations.

Waldo Perez - Chief

Financial and Investor

Relations Officer

 [e-mail]  55 11 3048.5900

Investor Relations

Department

 [e-mail]

Flávia Godoy

[e-mail] 55 11 3048.5900

Douglas Ribeiro

 [e-mail] 55 11 3048.5900

Cauê Cunha

[e-mail]

• 55 11 3048.5900

Caique Moraes

[e-mail]

• 55 11 3048.5900

HIGHLIGHTS 1Q23 X 1Q22

• Equivalent vehicle traffic grew by 6.3% in the period.
• The number of passengers boarded in airports increased by 132.9% in the period.
• The number of passengers transported in the mobility business increased by 31.4% in the period.
• Adjusted EBITDA grew by 19.0%.
• Adjusted Net Income totaled R$ 317.0 million.
• On March 2, 2023, the Company disclosed a Material Fact announcing the approval of an Agreement Term for Barcas.
• On March 10, 2023, the Company signed Amendment No. 3 to the MSVia concession agreement.

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1Q23 RESULTS

• On April 18, 2023, the Company disclosed a Material Fact in view of the non- approval of regulations that would allow the effective implementation of the private commercial airport, also commenting on the market scenario and contractual terms that lead to its decision to return, at no cost, 29.76% of the land acquired to implement the NASP Project, also announcing the discontinuation of the project.

Financial Highlights

Financial Highlights (R$ MM)	1Q22	1Q23	Chg %
Net Revenues1	8,018.6	3,798.5	-52.6%
Adjusted Net Revenues2	2,764.5	3,228.6	16.8%
EBITDA	6,841.0	2,182.8	-68.1%
EBITDA Mg.	82.8%	49.8%	-33.0 p.p.
Adjusted EBITDA2	1,658.9	1,974.9	19.0%
Adjusted EBITDA Mg. 3	60.0%	61.2%	1.2 p.p.
Net Income	3,452.5	629.3	-81.8%
Adjusted Net Income2	(15.2)	317.0	n.m.
Net Debt / Adjusted EBITDA LTM (x)	3.4	2.9
Adjusted EBITDA4 / Interest and Monetary Variation (x)	2.3	2.2

1. Net revenue excludes construction revenue.
2. Adjustments are described in the "non-recurring effects" section.
3. The adjusted EBITDA margin was calculated by dividing adjusted EBITDA by adjusted net revenue.
4. Calculated by excluding non-recurring effects and non-cash expenses: depreciation and amortization, provision for maintenance, and accrual of prepaid concession expenses.

Non-recurring effects

			Net Revenues
R$ MM	1Q22		1Q23	Comments
Net Revenues	8,018.6	3,798.5
(-) One offs	(5,254.1)	(569.9)
Barcas				569.9	Barcas Agreement
AutoBAn	5,254.1			Definitive Amendment
Adjusted Net Revenues	2,764.5	3,228.6
			Adjusted EBITDA
R$ MM	1Q22		1Q23		Comments
EBITDA	6,841.0	2,182.8
+ Maintenance Provision	46.8		70.4
+ Appropriation of Anticipated Expenses	69.7		35.8
- Equity Income Result	(30.4)		(25.3)
- Part. of Non-controlling Shareholders	(14.1)		(5.9)
(-) One offs	(5,254.1)	(282.7)
Barcas			569.9		Barcas Agreement
SPCP		(121.4)		Property transfer charges (NASP)
ViaOeste		(165.8)	Construction of improvements that do not bring future economic benefit
AutoBAn	5,254.1				Definitive Amendment
Adjusted EBITDA	1,658.9	1,974.9

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1Q23 RESULTS

		Net Income
R$ MM	1Q22	1Q23	Comments
Net Income	3,452.5	629.3
(-) One offs¹	(3,467.7)	(312.3)
Barcas		(543.2)	Barcas Agreement
SPCP		121.4	Property transfer charges (NASP)
ViaOeste		109.5	Construction of improvements that do not bring future economic benefit
AutoBAn	(3,467.7)		Definitive Amendment
Adjusted Net Income (Loss)	(15.2)	317.0

• 1. Non-recurring effects are net of income and social contribution taxes (IRPJ and CSLL).

• Message from the CEO of Grupo CCR - Miguel Setas

In the first quarter of 2023, the Company concluded the succession phase for its Chief Executive Officer position, approving my name as Head of Grupo CCR. I take this opportunity to thank Waldo Perez, our Chief Financial and Investor Relations Officer, for his invaluable contribution in accumulating roles and leading the Company so well over the past months. My first impressions were excellent, and I am very motivated to contribute to the next steps of this successful trajectory, with a focus on generating shareholder value, maintaining rigorous capital allocation and financial discipline, as well as continuing our leading role in the ESG journey, which is one of CCR's strategic pillars.

Grupo CCR, in the first quarter of 2023, carried out initiatives aimed at consolidating its long-term strategy, generating value for shareholders and all stakeholders. The Group's financial position remained solid, with room to capture and maximize new opportunities.

In the highway segment, after approved by the National Land Transportation Agency (ANTT), Grupo CCR launched the country's first electronic toll collection system, which is already operating on the Rio-Santos highway (BR-101). With no toll plazas or gates, this automatic payment system allows the use of a technology known as "free flow".

In urban mobility, we received the first of the 36 new trains acquired from Alstom for the concessionaire ViaMobilidade - Lines 8 and 9, responsible for operating and maintaining lines 8-Diamond and 9-Emerald of the São Paulo Metropolitan Trains Network. This was an important step towards the modernization and improvement process, which is currently underway for the entire infrastructure of both lines. This investment package, of nearly R$4 billion, is already being carried out in the initial three years of the concession, which has a 30-year term.

Also in the first quarter of 2023, we signed an agreement between the State of Rio de Janeiro and Barcas to continue to provide waterway passenger transportation services for a period of up to two years, during which the State will conclude studies and launch a public bidding process to select a new operator for these services.

In March, we completed our first year of operations for the airports in the country's South and Central Blocks, carrying out investments aimed at increasing passenger comfort, safety and convenience. Our efforts resulted in a 60% growth in passenger

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1Q23 RESULTS

traffic at the Curitiba Airport, and the Imperatriz Airport was chosen as the best regional airport in Brazil.

At the end of this quarter, we successfully hosted CCR's ESG Forum, which gave us the opportunity to share the Group's main advances in the social, environmental and governance areas with our shareholders. More detailed information is provided in our 2022 Integrated Report, available on our website. Regarding this matter, I would like to highlight that we hired the largest green infrastructure debentures in the Brazilian capital markets to date, coordinated by the National Bank for Economic and Social Development (BNDES): a total of R$4.6 billion was granted to finance improvements to Lines 8 and 9 of the metropolitan train system, of which more than 50% was in Green Bonds.

To finalize, I would like to say that I am grateful for the extraordinary opportunity I was given by the Board of Directors, and I assure that I will spare no efforts in contributing with Grupo CCR's results and growth to benefit shareholders, employees, customers, suppliers and other stakeholders. Alongside the members of the Company's entire Executive Board, I am certain to be embarking on a solid and prosperous journey.

• Gross Revenue (excluding Construction Revenue) and Operational Data
• Highways

	1Q22	1Q23	Chg %
Equivalent Vehicles	267,624,012	284,540,206	6.3%
Commercial	53.7%	51.2%	-2.5 p.p.
Light	46.3%	48.8%	2.5 p.p.
Gross Revenue - Toll Roads (R$ MM)¹	1,888	2,346	24.2%

1. Adjusted by the effects described in the "non-recurring effects" section.

Firstly, it is worth noting that the comparison between 1Q23 x 1Q22 for the RioSP reflects a full quarter in 2023 against just one month in 2022.

The growth in equivalent vehicles was mainly due to passenger vehicle traffic, which increased by 12.1%, mainly driven by the resumption of normal travel behavior given that, in the same period of the previous year, demand was strongly impacted by the contamination wave of the Covid-19 Omicron variant. We highlight the volume growth for concessions with a tourist profile, such as ViaLagos, ViaSul and ViaCosteira.

In terms of commercial vehicle traffic, this segment increased by 1.6%, with highlight to the positive performance of MSVia, which benefited from the out-of- season export flow for the corn crop during the first two months of the year, in addition to the positive performance of the soybean crop since the beginning of March. On the other hand, results for the ViaSul and ViaCosteira concessions were

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