Material Fact – Concession Agreement
ECORODOVIAS INFRAESTRUTURA E LOGÍSTICA S.A. (“Company”), ECORODOVIAS CONCESSÕES E SERVIÇOS S.A. (“ECS”) and CONCESSIONÁRIA ECOVIAS DOS IMIGRANTES S.A., (“Ecovias” or “Concession”) in compliance with paragraph 4 of article 157 of Law No. 6,404/76, as amended, and of the Instruction No. 358/02 of the Brazilian Securities Commission (“CVM”), hereby inform the shareholders and the market that on July 4, 2020, the São Paulo State Public Transportation Services Regulatory Agency (ARTESP) published in the state register Diário Oficial do Estado de São Paulo (DOESP) the recognition of economic and financial imbalance in AGREEMENT 007/CR/1998 (“Concession Agreement”) signed with Ecovias due to the recalculation of the depreciation amounts of the Concessionaire’s investments. The imbalance corresponds, in Net Present Value (“NPV”) according to July 1997 amounts – considering the Internal Rate of Return of the Agreement established at 20.59867% (“Contractual IRR”) – to R$3,906,151.79 (R$1,249,700,284.83 when updated by the Contractual IRR and adjusted by the IGP-M inflation index for the base date of July 2019, according to calculations in the ARTESP Process 009.975/2010, or R$1,605,221,065.57 updated by the same way for the base date of July 2020) to be rebalanced in favor of Ecovias.
Ecovias also informs that it is in an advanced stage of negotiations with the Granting Authority: (i) regarding other regulatory liabilities in its Concession Agreement resulting from economic and financial imbalances duly ascertained and uncontroversial; and (ii) possible inclusion of new investments of public interest.
The Company will inform the market when the rebalancing method in favor of Ecovias is defined.
The Company ratifies its commitment to its obligations as a publicly-held corporation listed in the New Market segment of B3, and all relevant information will be disclosed in accordance with applicable laws.
To download the full PDF file, click here.
Investor Relations
Phone: (+55) 11 3787-2612/2674/2683
invest@ecorodovias.com.br
www.ecorodovias.com.br/ir