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2Q11 Earnings

Results Presentation

08/12/2011

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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 9.9% in 2Q11 compared to 2Q10,

reaching 17,970 thousand equivalent vehicles.

Handled container volume totaled 137,202 TEUs.

Electricity output in 2Q11 generated revenue of R$22,545.

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

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

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I - Highlights

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

with a Stable Outlook.

On May 23, Maestra LLP acquired the vessel MV Westerdeich (future Maestra Pacífico) for

US$12.35 million.

On June 17, Triunfo won the Abrasca 2011 Value Creation award in the Transport and

Logistics category.

On June 22, Triunfo announced the issue of 180 debentures at unit face value of R$ 1 million.

The proceeds will be used for investments in the Company and its subsidiaries or affiliates.

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II – 2Q11 Results

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16,358

17,970

14.000

14.500

15.000

15.500

16.000

16.500

17.000

17.500

18.000

18.500

19.000

2Q10 2Q11

Traffic – Equivalent Vehicles (‘000)

II – 2Q11 Results

9.9%

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3,359 3,563

6,395

7,141

6,604

7,266

-

1.000

2.000

3.000

4.000

5.000

6.000

7.000

8.000

9.000

10.000

2Q10 2Q11 2Q10 2Q11 2Q10 2Q11

Traffic – Equivalent vehicles in the concessionaries (‘000)

II – 2Q11 Results

ECONORTE CONCER CONCEPA

6.1%

11.7% 10.0%

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137,631

137,202

136.900

137.000

137.100

137.200

137.300

137.400

137.500

137.600

137.700

2Q10 2Q11

Container Handling - TEUs (‘000)

II – 2Q11 Results

-0.3%

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142,076

178,894

-

20.000

40.000

60.000

80.000

100.000

120.000

140.000

160.000

180.000

200.000

2Q10 2Q11

Gross Revenue from Operations (R$ ‘000)

II – 2Q11 Results

25.9%

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51,372

60,365

46.000

48.000

50.000

52.000

54.000

56.000

58.000

60.000

62.000

2Q10 2Q11

Operating Costs (R$ ‘000)

Net – Depreciation / Amortization

II – 2Q11 Results

17.5%

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20,998

33,568

-

5.000

10.000

15.000

20.000

25.000

30.000

35.000

40.000

2Q10 2Q11

Operating Expenses (R$ ‘000)

Net – Depreciation / Amortization

II – 2Q11 Results

59.9%

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61,768

71,591

56.000

58.000

60.000

62.000

64.000

66.000

68.000

70.000

72.000

74.000

2Q10 2Q11

Adjusted EBITDA (R$ ‘000)

II – 2Q11 Results

15.9%

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52.1%

45.5%

40,0%

42,0%

44,0%

46,0%

48,0%

50,0%

52,0%

54,0%

2Q10 2Q11

EBITDA Margin (%)

II – 2Q11 Results

-6.6p.p

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(23,164)

(30,662)

(35.000)

(30.000)

(25.000)

(20.000)

(15.000)

(10.000)

(5.000)

-

2Q10 2Q11

Net Financial Results (R$ ‘000)

II – 2Q11 Results

32.4%

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(7,259)

(333)

(8.000)

(7.000)

(6.000)

(5.000)

(4.000)

(3.000)

(2.000)

(1.000)

-

2Q10 2Q11

Net Profit

(R$ ‘000)

II – 2Q11 Results

-95.4%

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885,559

966,717

2.66 x 2.88 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

1.000.000

1Q11 2Q11

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

III – Debt

11.4%

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IV – Capex

Balance of Investments in Fixed Assets

Total %

Triunfo 74,307 3.3%

Concer 396,526 17.8%

Concepa 304,495 13.6%

Econorte 234,435 10.5%

Portonave 797,082 35.7%

TPI-Log8 118,861 5.3%

Santa Rita9 10,297 0.5%

TBP10 70,200 3.1%

NTL11 47,522 2.1%

Vessel-Log12 44,382 2.0%

Rio Canoas 125,772 5.6%

Other Investiments 11,629 0.5%

2,235,508 100.0%

BALANCE OF INVESTMENTS IN FIXED ASSETS IN 2011

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IV – Capex

Investment in Fixed Assets

2Q11 %

Triunfo 19,250 15.4%

Concer 1,812 1.5%

Concepa 1,900 1.5%

Econorte 1,757 1.4%

Portonave 2,689 2.2%

Rio Canoas 80,297 64.4%

Santa Rita 0 0.0%

Vessel-Log 7,746 6.2%

NTL 4,786 3.8%

Other Investments 4,499 3.6%

124,736 100.0%

Rio Verde 306 0.5%

Capex com Rio Verde 125,042

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