Società Iniziative Autostradali e Servizi S.p.A. (BIT:SIS) and ASTM S.p.A. (BIT:AT) signed an agreement to acquire 32% of EcoRodovias Infraestrutura e Logística & 27.5% of Concessionaria Monotrilho Linha – Bronze from Primav Construções e Comércio S/A from Primav Construções e Comércio S/A for BRL 2.2 billion on December 18, 2015. CR Almeida S/A will contribute 64% stake in EcoRodovias Infraestrutura e Logística S.A. and 55% stake in Concessionaria Monotrilho Linha - Bronze S.A. and financial indebtedness of BRL 2.6 billion plus interest accrued and Società Iniziative Autostradali e Servizi SpA and ASTM S.p.A. will subscribe for new shares in the Newco worth BRL 2.2 billion which will be primarily allocated for reduction of indebtedness. After completion of the contemplated investment, Primav will be the owner of 50% of Newco's common shares. Gruppo Gavio on its turn, will own 50% of Newco's common shares and 100% of Newco's non-voting preferred shares (which such non-voting preferred shares will represent 28.2% of Newco's total capital stock), representing, in the aggregate, approximately 64.1% of Newco's total capital stock. As a result thereof, Primav and Gruppo Gavio will co-control Newco, on equal terms.

The Chief Executive Officer of EcoRodovias will be Marcelino Rafart de Seras. The transaction is subject to approval by regulatory bodies and approval by lending banks. Società Iniziative Autostradali e Servizi S.p.A. and ASTM S.p.A.will finance the transaction using credit lines available. Nomura International acted as financial advisor, Pinheiro Neto Advogados acted as legal advisor, Chiomenti Studio Legale acted as legal advisor, PWC acted as an accountant, Leight Fisher and TTC acted as trafiic advisors and Moccagatta Associati acted as PR advisor for Società Iniziative Autostradali e Servizi S.p.A. and ASTM S.p.A. Bradesco BBI and BTG Pactual and Bank of America Merrill Lynch acted as financial advisors and Tauil & Chequer Advogados acted as legal advisors for Primav.

Società Iniziative Autostradali e Servizi S.p.A. (BIT:SIS) and ASTM S.p.A. (BIT:AT) completed the acquisition of 32% of EcoRodovias Infraestrutura e Logística & 27.5% of Concessionaria Monotrilho Linha – Bronze from Primav Construções e Comércio S/A from Primav Construções e Comércio S/A for BRL 2.1 billion on May 4, 2016. Grupo CR Almeida and ASTM and SIAS closed, on the date hereof, the transaction, as result of which Primav Infraestrutura S.A. ("Newco") received a total capital contribution of BRL 2.2 billion, being BRL 2.1 billion from from ASTM/SIAS and BRL 120 million from Primav Construções e Comércio S/A. As part of such closing, Primav also transferred certain assets and liabilities to Newco, as set forth in the Investment Agreement, including the entire equity interest held by Primav in EcoRodovias. Through the aforementioned investment, Primav has become the owner of 50% of Newco's common shares and 13.09% of Newco's non-voting preferred shares, respectively, resulting in a total equity interest, considering common and preferred shares, of 35.9% of Newco's total capital stock, while ASTM and SIAS became the owner of 50% of the common shares and 86.91% of the non-voting preferred shares issued by Newco, totalizing, considering common and preferred shares, 64.1% of Newco's capital stock.