Triunfo Participações e Investimentos S A : Apresentação de Resultados 1Q24

Earnings Presentation 1Q24/1Q23

Disclaimer

The financial information in this presentation is pro forma and consolidated in proportion to Triunfo's interest in each business, while the operating information reflects the entire businesses. The results of the period, compared to the accounting values do not change due to the consolidation method. The net revenue figures reported herein exclude construction revenue (adjusted net revenue) , except where stated otherwise. Results are compared with the same period last year, except where stated otherwise.

This presentation may include forward-looking statements based largely on our current expectations and projections of future events and financial trends that affect or may affect our business. Although we believe these estimates and forward-looking statements are based on reasonable assumptions, many important factors could significantly affect our operating results. Any forward-looking statements, according to the definition under the U.S. Private Securities Litigation Reform Act of 1995, involve diverse risks and uncertainties and there is no guarantee that these results will materialize.

Consolidated Performance

Adjusted Net Revenue and EBITDA

Adjusted Net Revenue - Pro Forma1 (R$ million)

Excluding construction revenue

-19.4%

44.5%

1,089

878

210304

2022

2023

1Q23

1Q24

Adjusted EBITDA

Net Revenue Breakdown

Excluding construction revenue

Energy

12%

1Q24

Toll Roads

88%

Adjusted EBITDA Breakdown

(R$ million)

58.3%

19.2%

Excluding holding

Energy

559

353

85102

2022

2023

1Q23

1Q24

16%

1Q24

Toll Roads

84%

1- Excludes the year 2021 for Triunfo Econorte, considering that the Concession contract ended

Main Figures 1Q24/1Q23

Main Figures (in R$ thousand)	1Q24	1Q23	Δ
Adjusted Net Revenue	303,771	210,218	44.5%
Toll Roads	266,867	173,226	54.1%
Energy	36,904	36,992	-0.2%
Adjusted EBITDA*	101,798	85,425	19.2%
Toll Roads	89,264	74,033	20.6%
Energy	16,839	17,762	-5.2%
Holding and Other	(4,305)	(6,370)	-32.4%
Financial Result	(49,626)	(52,054)	-4.7%
Toll Roads	(49,279)	(54,616)	-9.8%
Energy	207	608	-66.0%
Holding and Other	(554)	1,954	n/c
Net Income (Loss)	5,095	(68,845)	-107.4%
Toll Roads	506	(75,537)	n/c
Energy	10,705	11,656	-8.2%
Holding and Other	(6,116)	(4,964)	23.2%
Adjusted EBITDA Margin	33.5%	40.6%	-7.1pp
Toll Roads	33.4%	42.7%	-9.3pp
Energy	45.6%	48.0%	-2.4pp

*Adjusted EBITDA excluding construction margin, non-recurring revenues (expenses), provision for maintenance, Remuneration for Financial Asset and Excess Tariff of Triunfo Concebra (In 1Q23), and is calculated based on the consolidated Income Statement as per Triunfo's share in each business (Proportional Consolidation Income Statement).

Capex and Debt

Capex 1Q24: R$25.5 million

	4%
	0%
Concer
Triunfo Econorte
Triunfo Concebra	40%

Triunfo Transbrasiliana	55%
Holding and Other

DEBT (in R$ thousand)
	1Q24	4Q23	Δ
Triunfo (holding) and other	42,015	46,095	-8.9%
Toll Roads	1,423,964	1,468,370	-3.0%
Gross Debt	1,465,979	1,514,465	-3.2%
Cash and Cash Equivalents	63,530	66,411	-4.3%
Net Debt	1,402,449	1,448,054	-3.1%

Toll Roads

Toll Roads

Average Tariffs (R$)	3M24	3M23	Δ
Concer	14.51	12.60	15.2%
Triunfo Econorte	0.00	0.00	n/c
Triunfo Transbrasiliana	9.40	8.00	17.5%
Triunfo Concebra	7.04	3.05	131.2%

Traffic of Equivalent Passing Vehicles.

Net Revenue and

Adjusted EBITDA (R$ million)

958	-23.6%		54.1%
	63.7%	731	20.6%
		521
318				267
			173
			89
			74
2022		2023	1Q23	1Q24
	Adjusted Net Revenue	Adjusted EBITDA

Energy

Energy Segment and other relevant matters

Net Revenue and Adjusted EBITDA

(R$ million)

+11.2%	-0.2%
+9.9%	-5.2%
	147

132

	62	69
			37	37
			18	17
2022		2023	1Q23	1Q24
		Net Revenue		Adjusted EBITDA

• Stability in Net Revenue on 1Q24 and Adjusted EBITDA fell 5.2% in comparison with 1Q23 respectively;