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1Q11 Earnings

Results Presentation

05/13/2011

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This release contains forward-looking statements relating to the prospects of the business,

estimates for operating and financial results, and those related to growth prospects of TPI –

Triunfo Participações e Investimentos S.A.. These are merely projections and, as such, are

based exclusively on the expectations of the Company’s management concerning the future of

the business. Such forward-looking statements depend substantially on changes in market

conditions, the performance of the Brazilian economy, the sector and the international markets,

and are, therefore, subject to changes without previous notice.

Forward-Looking Statements

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I - Highlights

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I - Highlights

Total traffic volume on our toll road concessions increased 8.8% in 1Q11 compared to 1Q10,

reaching 19,793 thousand equivalent vehicles.

Handled container volume totaled 124,228 TEUs.

Electricity output in 1Q11 generated revenue of R$24,024 from sale of electricity.

Gross revenue increased 40.6% in 1Q11 over the same period last year, reaching R$205,646.

EBITDA grew 22.0% to R$89,468 in 1Q11.

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I - Highlights

Net income reached R$8,585, generating a dividend calculation base of R$25,187.

On February 2, Rio Canoas Energia obtained the Environmental Installation License.

On February 14, Iceport resumed its operations, which had been suspended since November

12, 2009, when a fire destroyed the facility.

On March 2, the Federal Supreme Court rejected the request from the State of Paraná and the

Federal Prosecution Office regarding the suspension of toll collection by Econorte,

underlining the legitimacy of the Concession Agreement.

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I – Subsequent Events

On April 5, 2011, the Brazilian Institute of Environment and Renewable Natural Resources

(IBAMA) issued the preliminary license for the Brites Port Terminal.

On May 3, Fitch Ratings assigned the Company the Long-Term National Rating "A+ (bra)"

with a Stable Outlook.

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II – 1Q11 Results

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18,189

19,793

14.000

15.000

16.000

17.000

18.000

19.000

20.000

1Q10 1Q11

Traffic – Equivalent Vehicles (‘000)

II – 1Q11 Results

8.8%

10

3,240 3,439

6,419

7,090

8,530

9,264

-

1.000

2.000

3.000

4.000

5.000

6.000

7.000

8.000

9.000

10.000

1Q10 1Q11 1Q10 1Q11 1Q10 1Q11

Traffic – Equivalent vehicles in the concessionaries (‘000)

II – 1Q11 Results

ECONORTE CONCER CONCEPA

6.1%

10.5%

8.6%

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135,581

124,228

118.000

120.000

122.000

124.000

126.000

128.000

130.000

132.000

134.000

136.000

138.000

1Q10 1Q11

Container Handling - TEUs (‘000)

II – 1Q11 Results

-8.4%

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146,258

205,646

-

50.000

100.000

150.000

200.000

250.000

1Q10 1Q11

Gross Revenue from Operations (R$ ‘000)

II – 1Q11 Results

40.6%

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46,086

75,113

-

10.000

20.000

30.000

40.000

50.000

60.000

70.000

80.000

1Q10 1Q11

Operating Costs (R$ ‘000)

Net – Depreciation / Amortization

II – 1Q11 Results

63.0%

14

14,495

24,981

-

5.000

10.000

15.000

20.000

25.000

30.000

1Q10 1Q11

Operating Expenses (R$ ‘000)

Net – Depreciation / Amortization

II – 1Q11 Results

72.3%

15

73,327

89,468

-

10.000

20.000

30.000

40.000

50.000

60.000

70.000

80.000

90.000

100.000

1Q10 1Q11

Adjusted EBITDA (R$ ‘000)

II – 1Q11 Results

22.0%

16

60.9%

55.3%

50,0%

52,0%

54,0%

56,0%

58,0%

60,0%

1Q10 1Q11

EBITDA Margin (%)

II – 1Q11 Results

-5.5p.p

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(24,124)

(33,193)(35.000)

(30.000)

(25.000)

(20.000)

(15.000)

(10.000)

(5.000)

-

1Q10 1Q11

Net Financial Results (R$ ‘000)

II – 1Q11 Results

-37.6%

18

13,723

8,585

-

2.000

4.000

6.000

8.000

10.000

12.000

14.000

16.000

1Q10 1Q11

Net Profit

(R$ ‘000)

II – 1Q11 Results

-37.4%

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867,567 885,559

2.80 x

2.66 x

1,50 x

2,00 x

2,50 x

3,00 x

3,50 x

-

100.000

200.000

300.000

400.000

500.000

600.000

700.000

800.000

900.000

4Q10 1Q11

Net Debt (R$ ‘000) & Net Debt / EBITDA

III – Debt

2.1%

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IV – Capex

Balance of Investments in Fixed Assets

Total %

Triunfo 56,155 2.6%

Concer 400,343 18.7%

Concepa 320,230 14.9%

Econorte 234,678 10.9%

Portonave 805,372 37.5%

TPI-Log8 118,861 5.5%

Santa Rita9 9,581 0.4%

TBP10 70,200 3.3%

NTL11 43,344 2.0%

Vessel-Log12 36,636 1.7%

Other Investments 54,189 2.5%

2,149,589 100.0%

BALANCE OF INVESTMENTS IN FIXED ASSETS IN 2011

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IV – Capex

Investment in Fixed Assets

1Q11 %

Triunfo 4,659 7.3%

Concer 5,220 8.2%

Concepa 21,796 34.1%

Econorte 1,520 2.4%

Portonave 1,508 2.4%

Rio Canoas 15,833 24.8%

Vessel-Log 4,592 7.2%

NTL 7,659 12.0%

Other Investments 1,090 1.7%

63,877 100.0%

Rio Verde 20 0.0%

Capex with Rio Verde 63,897

INVESTMENTS IN FIXED ASSETS IN 2011

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www.tpisa.com.br

Tr iunf o São Paulo

Rua Olimpíadas 205 14º andar cj. 1402

CEP 04551-000 São Paulo SP BRFone 55 11 2169 3999

Fax 55 11 2169 3969

Rua Olimpíadas 205 14º andar cj. 1402 CEP 04551-000 São Paulo SP BR

Fone 55 11 2169 3999 Fax 55 11 2169 3939

www.triunfo.com