Institutional presentation

2

INDEX

1. Tegma history and overview

2. Market overview

3. Business segments

4. Consolidated financial and

governance review

2

One of the largest logistics companies of Brazil

Founded in 1969

Located in São Bernardo do Campo - SP

Annual revenues of R$1.5 billion

Market cap ~ R$1.7 bn

1.8k employees in 31 bases in 11 states

Asset light business model

Listed on B3 since 2007/ Novo Mercado | Ticker: TGMA3.bz

High level of governance: Fiscal Council, Audit Committee, 2 independent members (1 independent chairman) in the board of directors

3

4

Vehicles Logistics Start Up, as Sinimbu and organic growth

1969 1997

Merger with Coimex Group;

Incorporation of subsidiaries Schlatter and Transfer, expanding the

participation in vehicles logistics market;

1998 2001

Start Up as “Tegma”;

IPO;

Industrial logistics Start Up;

Warehouse Start Up;

Acquisition of 49% stake in Catlog;

2002 2010

Acquisition of Direct Express and LTD operations;

Discontinuation of LTD operations and sale of Direct Express

Creation of a JV for bonded warehouse GDL

2011 2018

Logistic operator for chemical, glasses

and household appliances industry

Integrated inbound transport

management, optimizing and planning

routes according demand

Solid raw material storage/shipping and

in-house liquid management

Reduced inventory levels in the client

supply chain

Leader in the logistics of brand new

vehicles in Brazil (~26% market share)

serving all automakers in the country

Asset light model with outsourced fleet

and high resilience of results

Low requirement of investments

67 thousand square meters of

warehouses in São Paulo, Rio de Janeiro

and Espírito Santo

Inventory, labeling and assembly of kits

The country's largest bonded area for

the management of imported vehicles

in the CLIA Cariacica-ES

% 2018 Revenues % 2018 EBITDA

5

85%

12%

3%

86%

14%

AUTOMOTIVE

LOGISTICS

INDUSTRIAL

LOGISTICS

WAREHOUSE

INTE

GR

ATE

D L

OG

ISTI

CS

Major competitors

3 lst yrsrevenuechange

Growth drivers

4%

N/A

Sales of brandnew vehicles in Brazil/Mercosul and average

distance of trips

Inboundoutsourcing among industries in Brazil (homeappliances, home ´n care, glasses)

Increase ofinventoriesmanagement outsourcing ofconsumptiongoods retailers

Major clients

AUTOMOTIVE

LOGISTICS

INDUSTRIAL

LOGISTICS

WAREHOUSE

INTE

GR

ATE

D L

OG

ISTI

CS

6

+44%

Fleet KPI´s / SLA´s

1.0k

0.2k

1.5 thousand

(93%

outsourced)

65 carriers

owned

82 trucks

outsourced

-

- Transit time of deliveries;

- Level of vehicle damage;

- Inventory level; - Manufacturing

plantinterruption

- Processing NF's on the same issuing day;

- Stock accuracy -

99.98%

#employees

0.5k

Assetintensity

Low

Medium

Low

AUTOMOTIVE

LOGISTICS

INDUSTRIAL

LOGISTICS

WAREHOUSE

INTE

GR

ATE

D L

OG

ISTI

CS

7

INDEX

1. Tegma history and overview

2. Market overview

3. Business segments

4. Consolidated financial and

governance review

8

North/Northeast/CenterwestProduction: 14%

Consump.: 29%

-15%

Source: ANFAVEA and FENABRAVE

* Considering FY 2018Source: ANFAVEA

Brazilian automotive market:

65 industrial units / 11 states

31 assemblers / 616 autoparts

9th largest domestic market

4.0% national GDP

5.592 dealerships

5.2 inhabitants per vehicle

22% of production is exported (2018)

14% of national sales is imported (2018)

Installed capacity: 4.5 million vehicles

High concentration of production in

South/Southeast – demanding logistics

9

Southeast/SouthProduction: 86%

Consump : 71%

+16%

0,0

0,5

1,0

1,5

2,0

2,5

3,0

3,5

4,0

4,5

5,0

1957 1961 1965 1969 1973 1977 1981 1985 1989 1993 1997 2001 2005 2009 2013 2017

Vehicles Sales

-35% vspeak

2016: -45% vspeak

-43% vs peak

Mill

ion

2019E: +11% vs 2018Source: ANFAVEA

10

2019E: +39% vs

2016

47%

50%

53%

56%

2013 2014 2015 2016 2017 2018

Southeast Ex-Southeast

11

Vehicles fleetand average age

Used vehicle sales (and ratio vsnew vehicle sales)

Vehicles exportsVehicles production

Domestic salesper region

Domestic salesper category

Source: ANFAVEA, SINDIPEÇAS, ABLA and FENABRAVE

38

39

4041 41

42

8.58.6

8.9

9.19.3 9.4

2013 2014 2015 2016 2017 2018

9.410.1 10.0 10.0

10.7 10.7

2.63.0

4.0

5.0 4.94.3

2013 2014 2015 2016 2017 2018

3.5

3.0

2.32.1

2.62.7

2013 2014 2015 2016 2017 2018

0.5

0.3

0.4

0.5

0.7

0.6

2013 2014 2015 2016 2017 2018

0%

20%

40%

60%

80%

100%

2014 2015 2016 2017 2018

Rent a Car Sales ex-rentacar

INDEX

1. Tegma history and overview

2. Market overview

3. Business segments

4. Consolidated financial and

governance review

12

12

Services provided:

Transfer and distribution of brand new vehicles;For all automakers installed in Brazil

Yard management and storage of vehicles;

PDI (Pre-Delivery-Inspection);For rent-a-car and corporate fleet

13

14

A logistics optimization program that integrates the

demands of automakers and resellers across multiple regions

to streamline and avoid empty journeys using real-time truck

tracking and load composition software, focused on vehicle

visibility, damage control and environmental management of

the entire operation

Local orcentral hub

(storage)

Local orcentral hub

(storage)

Port

*Pre-delivery-inspection

PDI*

Do

me

stic

de

live

rie

s

Exp

ort

de

live

rie

s

In numbers:

Attending 16 OEM´s and importers

781 thousand vehicles hauled per year

754 thousand trips per year

791 million km per year per vehicle

21 hubs in Brazil

Deliveries in more than 1 thousand

autodealers in Brazil

Port

OEM

OEM

Autodealer

RAC/ fleet

Monitoring 100% of trucks;

Electronic control of speed

and work journey

GPS delivery confirmation

10

Tegma’s entire fleet location

GPS mapping of a delivery

15

Services provided:

Yard management

Control the vehicle’s input /

output from yards;

Integrate vehicle’s information

with the transport system;

Vehicle handling in the yard;

Yard in São José dos pinhais – Parana State

Operational control centerVehicle storage

16

Inspection process Inspection process

Inspection process

17

Services provided:

Inspection, preparation,

installation of components for

rent-a-car and companies fleet;

Nationalization of imported

vehicles;

DC Toyota

Suape

Cariacica

Caju

Resende

Juiz de Fora

Igarapé

Camaçari

BelémManaus

SJPParanaguá

Araquari

Itajaí

Gravataí

Guaíba

Rio Grande

Chuí

Sumaré

SorocabaPiracicaba

Indaiatuba

SBCSJC

São José dos Campos

Area: 81 thou sqm

São José dos Pinhais

Area: 160 thou sqm

Camaçari

Area: 64 thou sqm

São Bernardo do

Campo

Area: 260 thou sqm

With Yard

Total yard area:

1.8 million sqm

18

• Southeast region:• Cariacica – ES• Resende – RJ• Rio de Janeiro - RJ• Piracicaba - SP

• North region:• Manaus – AM• Belém – PA

• Northeast region:• Camaçari – BA• Suape – PE

• South region:• São José dos Pinhais – PR• Gravataí – RS• Chuí – RS• Araquari - SC

18

• SBC – SP• SJC – SP• Itirapina - SP• Indaiatuba – SP• Sorocaba - SP

• Itajaí – PR• Paranaguá – PR• Guaíba - RS• Rio Grande – RS

Tegma’s main yards

Revenue depends on the # of

vehicles transported and on the

distance for delivering them upon a

fee (R$/total distance)

Freight costs and other variable

costs (81% of COGS) depend as well

on the # of vehicles transported and

on the distance for delivering them

Tegma manages vehicles for all

automakers in Brazil

SLA´s (Services Level Agreements)

include the transit time and damage

on % of vehicles handled

Prices (with OEM´s and truckers)

are annually readjusted (april-may)

19

average distance of trips from SP DC

Average of 45 days of receivables / 14 days of payment;

Average of 81% of variable costs (% of total COGS);

High resiliency of margins and FCF;

Low demand for expantion investments.

Gross Sales

20

1,186

1,026

766681

754 781

28% 29% 28% 29%27%

25%

2013 2014 2015 2016 2017 2018

Number os vehicles transported

Market Share

1,6991,557

1,149

940

1,129

1.348

2013 2014 2015 2016 2017 2018

206

175

9578

118

172

15%14%

10% 10%

13%

16%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

0

50

100

150

200

250

300

2013 2014 2015 2016 2017 2018

Adj EBITDA Adj EBITDA Mg.

21

Inventory management, transportation and

storage;

Gross sales: BRL 143 mm py;

Assets employed: chemical carriers, general

carriers (the trucks are all outsourced);

Warehouses in Cubatao and Indaiatuba (all

rented) Tegma warehouses

22

6 SHIPS/ MONTHS 45 TRUCKS / SHIP 110,000 TONS/ MONTH 52,000 TONS / MONTHS 78,000 TONS / MONTHS

PORT OPERATION UNLOADING

TRANSPORTRETROPORT

WAREHOUSESTORAGE

ROAD TRANSPORT

IN HOUSEOPERATION

PLANNING TEGMA

Supplier of the largest powder

detergent factory in the world,

operating 24 x 7

Other Home´n care and glass

industries clients

Inventories covering 24-48 hrs of

production

Inventories 100 miles from plant

Resulting in client inventory

reduction

23

Supplier C

Supplier B

Supplier AEmpty

packages

Parts

Milk-run

OEM

ETOS

System

Material planning

MRP PSFT

Order:Demand

Driven

Follow Up

After Tegma

Curitiba

São Carlos

Inbound process advantages

Tegma web portal with visibility of the control

of the packaging;

Investment and management carried out by

Tegma;

Supplier collection information available 1 day

in advance;

KPIs online in the web portal.40% increasein vehicleocupation

Major clients

Bonded and general warehouses, inventories

management, labeling and assembly of kits;

Gross sales: BRL 47 mm py;

Assets employed: internal warehouse structures (the

warehouses are rented);

67 thousand sqm of warehouses in Rio de Janeiro, São

Paulo and Espirito Santo.Tegma warehouses

24

Castello Branco warehouse

238 230243

200 201191

2013 2014 2015 2016 2017 2018

Recent developments provide more previsibility;

Industrial logistics with high resiliency of sales and results;

Warehouses have more fixed costs;

Constant cost control and active pipeline of new clientes.

Gross Sales

25

-6

13

4

11

17

28

-3%

7%

2%

7%10%

18%

2013 2014 2015 2016 2017 2018

Adj EBITDA Adj EBITDA Mg.

INDEX

1. Tegma history and overview

2. Market overview

3. Business segments

4. Consolidated financial and

governance review

26

27

154169

9989

135

200

201

3

201

4

201

5

201

6

201

7

201

8

Adjusted EBITDA (BRL million)1.33

1.63

1.23 1.181.33

1.54

201

3

201

4

201

5

201

6

201

7

201

8

Gross Revenue (BRL billion)

Dividends per share

74

2935

51

61

72

201

3

201

4

201

5

201

6

201

7

201

8

Free cash flow (BRL million)

Payout %

19

(6)

10

34

104 108

201

3

201

4

201

5

201

6

201

7

201

8

Net income (million)

ROE%ROIC%

21%

16%

3% 4%

28%

24%

15%

17%

6%

11%

23%

28%

201

3

201

4

201

5

201

6

201

7

201

8

ROE and ROIC

0.990.93

0.120.08

0.71

60%60%61%53%

100%

201

8

201

7

201

6

201

5

201

4

201

3

Shareholder return

28

Net debt Net debt / Adjusted EBITDA

Outlook: Stable

Tegma’s Rating

Sep 2013

Sep 2014

B1 Nov 2015

May 2016

Dec 2017

B2

B1

Ba2

Ba3

280265

150

99

74 75

1.81.6 1.5

1.1

0.60.4

0,0

0,5

1,0

1,5

2,0

2,5

3,0

3,5

4,0

4,5

5,0

20

13

20

14

20

15

20

16

20

17

20

18

0

50

100

150

200

250

300

Indebtness (BRL million)

108

7

78

25

10 10 10

Debt ScheduleAmortization

Cabana

7%Free Float

48%

Grupo Coimex

20%

29

GRUPO COIMEXInfrastructure Other businesses

MOPIA

MOPIA

25%

CABANA

Shareholder agreement

29

Board of Directors

2Mopia/Cabana

representants

2Coimex

representants

2Independents

1 chairman

Fiscal Council

2Indicated by

controlling

shareholders

1Indicated by

minorities

Management

Gennaro Oddone

CEO/DRI

Ramón Pérez - CFO

Auditing Comitee

2Indicated by

controlling

shareholders

1Independent

30

Management, People and

Governance Committee

2Indicated by

controlling

shareholders

1Independent

Projects that also

aim at socio-environmental benefits

Tegma’s ownVehicularinspection;

Trucks notattending legal limit are forbiddento transport;

Environmental compliance in 2018

Environmental Legal Requirements

97.6%

Environmental licenses

93.1%

Vaporization system in washers

85% reduction in effluent

generation in Cubatão

90% reduction in water

consumption in Cubatão and

96% in Araquari / SC;

90% lower

than the

legal limit

Main certifications:

31

Wanderléia Carrier

-11% in CO2 emissions;

-10% in accident occurrence;

Water reuse system SBC site

0.31

0.48

0.39

0.32

0.43

0.27

0.36

0.26

0.160.20

Opacity

(black smoke emission) (m-¹)

70.5

87.4 88.2 91.4 92.5 93.1

2013 2014 2015 2016 2017 2018

Legal compliance (General)

Sell side analysis

USD 2.05 mmADTV

(last

6 months)

3.5xP/Book

32

*May 2019 figures

B1Global scale

Moody´s

Rating

7.8

6.9 6.9

7.8

15.1

12.9

12.713.8

7.5

7.2

13.1

12.4

1Q 2Q 3Q 4Q

EV EBITDA 2019 PE 2019 EV EBITDA 2020 PE 2020

Multiples

33

IR websiteDetailed Statement of changes in beneficial ownership of securities history

Financial historical in .xls with indicators, sellside and industry estimatives, dividendsand explanatory notes

Tegma awarded by two renowedmagazines as one of the best IR professional and CEO of Brasil and Latam in 2018

Corporate startup accelerator (Corporate Venture)

Tegma open innovation arm

First accelerator specialized in logistics in Brazil

Focus on solutions

for the following

areas:

Cargo transportYards and warehousesCustomer Service AutomationFleet managementE-commerce (B2B platforms)Technology for Logistics (Blockchain, IoT, BigData, I.A.)

First round:

64 companies applied4 winners 1 investment

What we are looking

for:

Companies that introduceinnovative solutions in digital logistics, transportation and mobility.

Near of economicequilibrium, with customers and recurring revenue

Companies that aggregatevalue to our services, forming

longstanding partnerships

34

TegUp coworking

Second round:

14 approved

Investor relationsri.tegma.com.br

Ian Nunesian.nunes@tegma.com.br

+55 11 4397-9423

Heloïse Sanchez

heloise.sanchez@tegma.com.br+ 55 11 4397 9399