Rumo S A : Results Presentation 3Q20

Earnings Release

3Q20

November 12, 2020

Disclaimer

This presentation may contain certain affirmations and statements that express beliefs and trends related to Rumo S.A. ("Rumo" or "Company") and its subsidiaries, reflecting current views and/or expectations of Rumo and its management concerning its businesses and future events, which, although considered reasonable by the Company based on public information, can be incorrect or inaccurate, or cannot be materialized. This is because several relevant factors may cause actual results to substantially differ from plans, objectives and expectations expressed herein, most of them beyond the Company's control.

The statements and information on trends reported herein do not guarantee performance.

This presentation does not represent an offer for subscription or acquisition of the Company's securities.

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#3Q20

	_ESG
	_Highlights
Agenda	_Consolidated Results | Operational
_Consolidated Results | Financial
	_Market
	_Central Network

1#

ESG

Environmental, Social & Governance

#1 ESG

Covid-19

17,900 tests conducted

Only 2.4% positive results

Protocols maintained

Covid-19

Safety

Emissions

Safety	Emissions
Personal accident index	Diesel consumption
(MM accidents/HHT)	(liters/'000 GTK)
0.28 | -44% in 9M20	3.75 | -5.3%in 9M20
	2025 Target -15%

5

2#

HIGHLIGHTS

3Q20 Highlights

#2 3Q20 HIGHLIGHTS

RECORD

TRANSPORTED

VOLUME

17.5 bi RTK

+1.1% YoY

Adjusted

EBITDA1

R$1.1 billion

-7.9%YoY

LOWER

FIXED COST

- 4.0% YoY

NET

INCOME

R$171 mi

-53.7%YoY

3rd

CAPITAL

INCREASE

R$6.4 bi

Aug/2020

CONCESSIONS PREPAYMENT

Central and Paulista

R$5.1 bi

Sep/2020

Note 1: Excludes Central Network	6

3#

CONSOLIDATED RESULTS | OPERATIONAL

#3 CONSOLIDATED RESULTS |OPERATIONAL

Volume by operation

(RTK billion)

+5.0%

Performance by segment

(RTK billion)

0.40.8

4.2 -5.8%4.0

+3.1%

12.412.7

3Q193Q20

Grain

Sugar

Fertilizer

Fuel

Pulp

Container

12.7

12.1 -5.6%

0.8 +87.8%

1.5

0.9 +19.5%

1.1

3Q19 3Q20

1.3 -8.1%

1.2

0.6 +17.9%

1. +5.0%
   0.8

9

#3 CONSOLIDATED RESULTS | OPERATIONAL

Results by operation and consolidated

(Chg. % and p.p. | 3Q20 x 3Q19)

Data	NORTH	SOUTH	CONTAINERS	CONSOLIDATED
OPERATION	OPERATION
Volume	+3.1%	-5.8%	+5.0%	+1.0%
Tariff	-7.3%	+5.8%	-5.2%	-4.2%
NOR	0.0%	-0.7%	-3.3%	-0.3%
Variable Cost	+16.2%	-1.4%	-3.4%	+11.0%
Fixed Cost	-11.8%	-2.8%	+7.2%	-4.0%
EBITDA	-7.7%	-15.4%	>100.0%	-7.9%2
EBITDA Margin	-5.0 p.p.	-7.0 p.p.	+17.0 p.p.	-4.5 p.p.

EBITDA by operation

(R$ MM)

12 >100.0%

205	-15.4%		25
		174

-7.7%

1.000923

3Q193Q20

Note 2: Excludes Central Network	10

4#

CONSOLIDATED RESULTS | FINANCIAL

#4 CONSOLIDATED RESULTS |FINANCIAL

Concessions prepayment

Central and Paulista Networks| September 15, 2020

Balance sheet accounts affected by recording of concessions	09/30/2020	06/30/2020
(R$ MM)
Right of Use	7,764	7,797
Lease liabilities3 (Note 5.6 of Financial Information)	2,767	7,909

Note 3: Financial and operating lease IFRS 16.

Operating lease liability		2Q20			3Q20
(R$ MM)	04/2020	05/2020	06/2020	07/2020	08/2020	09/2020
Operating lease liabilities4	4,109.2	7,468.5	7,440.9	7,516.8	7,506.0	2,324.5
Montlhy charges from lease liabilities4	44.9	41.0	72.0	70.8	70.3	40.5
Quarterly charges from lease liabilities (Note 6.4)			157.9			181.6

Note 4: Only operating leases - concessions and others.

12

#4 CONSOLIDATED RESULTS |FINANCIAL

Financial Result

(R$ MM)

438

+45.9%

300

261

146

154177

3Q193Q20

Net Income

(R$ MM)

-53.7%

369

171

3Q193Q20

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#4 CONSOLIDATED RESULTS |FINANCIAL

Net Debt

(R$ MM)

2.0 x

1.7x

-16.6%

7.889

6.582

2Q203Q20

Leverage (Net Debt/EBITDA LTM)

Debt Amortization Schedule

(R$ bi)

															3,9
														3,1
2,2												2,3
						1,2				1,1					1,5
													0,8
0,3														0,4

2020 2021 2022 2023 2024 2025 2026 2027 2028 >2029

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5#

MARKET

Corn and soybean

#5 MARKET

Corn

Besides record production, inventory projected for 2021: between 8 and 10 million tons

Advanced 2021 crop commercialization | 40% Center-SouthBR and 63% MT: above the historical avg.

Production | Brazil and Mato Grosso		Exports | Brazil and Mato Grosso
		+7.8% 111.0
102.5	103.0		New record
			projected
							+12.0%
					39.3	39.2
							35.0

33.2	35.4	38.1		22.9	23.8	25.0
18/19	19/20	20/21		18/19	19/20	20/21

Source: AgRural and Agroconsult | Nov/20	16
Note: Considers Brazilian's two corn crops.

#5 MARKET

Soybean

Record production expected in 2021 | Planting is recovering: 62% in MT nov/20

Advanced 2021 crop commercialization | 56% BR and 68% MT: above the historical average

Production | Brazil and Mato Grosso

		+6.4%	133.9
122.9	125.9	New record
			projected

33.236.036.4

18/1919/2020/21

Source: AgRural and Agroconsult | Nov/20

Exports | Brazil and Mato Grosso

+2.6%

81.783.8

72.2

20.423.424.5

18/1919/2020/21

17

6#

CENTRAL NETWORK

Works underway

#6 CENTRAL NETWORK

Advanced works | Operational in 2021 | Rail

Bridge over Paranaíba river (MG/GO)	Railway superstructure	Superior crossing in Quirinópolis stretch (GO)

Rail levelling

Bridge over Arantes river (MG)

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#6 CENTRAL NETWORK

Terminals

Terminal	Product	Owner	Startup	Capacity | 2025
(mm tons)
São Simão (GO)	Grains	Rumo (51%) and	1Q21	1.5
Caramuru (49%)
	Grains	Rumo	3Q21	8.0
Rio Verde (GO)	Fertilizers and liquids	Third Parties	2022	1.5; 0.5
Imperatriz (MA)	Containers	Brado	2022	2.0
Iturama (MG)	Sugar	Coruripe	2022	2.0
Norte de Goiás5	Mining and grains	Under negotiation	2022	1.0
Anápolis (GO)	Grains	Granol	2022	0.5
Sul de Tocantins5	Grains	Under negotiation	2023	1.0

Note 5: Potential -under study.

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#6 CENTRAL NETWORK

São Simão and Rio Verde Terminals | To be ready in 2021

Railway silo - São Simão (GO)

Shipment crossing - São Simão (GO)

Risers and silos - São Simão (GO)

Warehouse tunnels- Rio Verde (GO)

Metal galleries - Rio Verde (GO)

Installation of sleepers - Rio Verde (GO)

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