Triunfo Participações e Investimentos S A : Dados Econômico-Financeiros

TPI - TRIUNFO PARTICIPAÇÕES E INVESTIMENTOS

S.A.

Report on the Independent auditor's review

Individual and consolidated interim financial statements

As of March 31, 2023

A free translation from the original in Portuguese.

TPI - TRIUNFO PARTICIPAÇÕES E INVESTIMENTOS S.A.

Individual and consolidated interim financial statements as of

March 31, 2023

Content

Comments on financial performance

Report on the independent auditor's review of the individual and consolidated interim financial statements

Balance sheets

Individual and consolidated interim statements of income

Individual and consolidated interim statements of comprehensive income Individual and consolidated interim statements of changes in equity Individual and consolidated interim statements of cash flow - indirect method

Individual and consolidated interim statements of value added - supplementary information

Management's notes to the individual and consolidated interim financial statements

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COMMENTS ON FINANCIAL PERFORMANCE

QUARTERLY INFORMATION - 03/31/2023

The Company discloses its Quarterly Financial Statements as it is a joint venture, pursuant to CPC 36 (R3) / IFRS 10 - Consolidated Financial Statements and CPC 19 (R2) / IFRS (11) - Joint Ventures and, accordingly, its results are shown as Equity Income.

Thus, the consolidated financial statements basically represent the equity position and profit or loss of the Parent Company and subsidiaries in the road segment.

Revenues

Consolidated gross revenue reached R$ 225.3 million, with 13.2% increase as compared to 3M22. This was due to the remuneration of the financial asset of Triunfo Concebra referring to the effects of the 2nd amendment of the agreement for re-auctioning purposes, the 10.1% increase in light vehicle traffic at Concer and the effects of the tariff adjustments seen in the first quarter of 2023, which occurred in 2022 in the road concessions.

As a result, adjusted net revenue for 3M22, excluding construction revenue, reached R$ 185.8 million, 15.1% higher when compared to the same period of the previous year.

Operating costs and expenses

Consolidated operating costs, excluding construction costs, provision for maintenance and depreciation and amortization, reached R$ 152.8 million in 3M23 (72.7% increase) mainly due to expenses (operation and maintenance and Labor Costs)

to comply with the effects of the second amendment to the agreement for Triunfo Concebra's re-auctioning.

Consolidated operating expenses (excluding depreciation and amortization and non-recurring expenses) amounted to R$

41.0 million, with 55.9% increase vs. 3M22, due to the increase in general and administrative expenses resulting mainly from higher attorney's fees at subsidiary Concer (R$ 6.7 million increase) and also due to the change in expectations of losses in civil and labor proceedings at subsidiary Concer that impacted Other Administrative Expenses.

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Net Income (Loss)

Net Loss was R$ 80.3 million in 3M23, up 145.2% compared to the same period of the previous year, due to the lower operating profit as a result of the fulfillment of the effects of the 2nd amendment to the agreement for the re-auctioning of Triunfo Concebra. and also due to the worsening of the financial result, especially at subsidiary Triunfo Transbrasiliana due to the issue of debentures in the second quarter of 2022.

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REPORT ON THE INDEPENDENT AUDITOR'S REVIEW OF THE INDIVIDUAL AND CONSOLIDATED INTERIM FINANCIAL STATEMENTS

To

Shareholders, Members of the Board of Directors and Management of

TPI - Triunfo Participações e Investimentos S.A.

São Paulo - SP

Introduction

We have audited the individual and consolidated interim financial statements of TPI - Triunfo Participações e Investimentos S.A. ("Company" or "TPI"), contained in the Quarterly Information Form (ITR), identified as Parent Company and Consolidated, respectively, referring to the quarter ended March 31, 2023, comprising the individual and consolidated interim balance sheet as of March 31, 2023 and the respective individual and consolidated interim statements of income, of comprehensive income, changes in equity and cash flows for the 3-month period then ended, as well as the summary of key accounting policies and further accompanying notes.

The Company's management is responsible for preparing the individual and consolidated interim financial information in compliance with Technical Pronouncement CPC 21 (R1) - Interim Statement and the international standard IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board - (IASB), as well as for the presentation of such information in a manner consistent with the rules issued by the Brazilian Securities and Exchange Commission, applicable to the preparation of the Quarterly Information (ITR). Our responsibility is to express a conclusion on these interim financial statements based on our audit.

Scope of the review

We conducted our review in compliance with Brazilian and international standards for the review of interim financial information (NBC TR 2410 - Interim Financial Information Review Performed by the Entity's Auditor and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim information consists of making inquiries, primarily with persons responsible for financial and accounting matters, and applying analytical and other review procedures. The scope of a review is significantly more limited than that of an audit performed in accordance with auditing standards and thus it did not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Therefore, we do not express an audit opinion.

Opinion on the individual and consolidated interim financial statements

Based on our review, we are not aware of any facts that would lead us to believe that the individual and consolidated interim financial statements included in the aforementioned Quarterly Information (ITR) were not prepared, in all material respects, in compliance with CPC 21(R1) and IAS 34, applicable the preparation of Quarterly Information (ITR) and presented in a manner consistent with the rules issued by the Brazilian Securities and Exchange Commission (CVM).

BDO RCS Auditores Independentes SS Ltda., a Brazilian limited liability company, is a member of BDO Internacional Limited, a UK limited liability company, and is part of the international BDO network of independent member firms. BDO is a trade name for the BDO network and each of the BDO firms.

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