1

1Q07 Earnings Results

Conference call

2

Company Overview

Consistent cash generation and financial strength: strong Adjusted EBITDA growth and low indebtedness level;Privileged location: Autovias, Centrovias, Intervias and Vianorteare interconnected and located in one of the main agribusiness center in Brazil;High growth potential: capitalized to participate in new toll road concession bidding programs;Controlling shareholder broad experience – OHL Concesiones;Corporate governance best practices (Bovespa’s Novo Mercado – OHLB3, with a 40% free float).

OHL Brasil is the second largest company in the toll road concession sector in Brazil measured by gross services revenue and kilometers of toll road operated, with 1,147 km of operations. OHL Brasilmanages 11.6% of the total Brazilian toll roads currently under concession in Brazil.

3

1Q07 Highlights

The traffic consolidated in terms pro forma growth 8.4% in 1Q07 comparing to 1Q06. Not considering the Vianorte’s trafficin 1Q06, the traffic consolidated growth 40.8% in 1Q07.

Net services revenue growth in pro forma terms of 9.2%comparing 1Q07 to 1Q06. Not considering the Vianorte in 1Q06, the net services growth 41,7% in 1Q07.

Adjusted EBITDA of R$79.8 million and Adjusted EBITDA margim of 58% of the net revenue in 1Q07, with a growth in pro forma terms of 7.9% over Adjusted EBITDA of R$74 million in 1Q06.

Net income in 1Q07 amounted to R$9.2 million.

81.1% aprreciation of our shares until May 04,2007.

4

Traffic Performance

23% 18%

18%

41%

4,448 5,009 5,036

4,466 4,940

10,70412,240 11,384

2,306 6,257

5,199

-

5,000

10,000

15,000

20,000

25,000

30,000

1Q06 4Q06 1Q07

Vianorte

Intervias

Centrovias

Autovias11.6%40.8%

Traffic Breakdown – 1Q07 Traffic Performance (in thousand Equiv.-Vehicle)

Average Toll Tariff(in R$/Equiv-Vehicles)

Autovias 6.89 6.93 6.92 (0.7%) (0.6%)Centrovias 7.17 7.16 7.17 0.2% (0.1%)Intervias 3.90 3.90 3.94 (0.1%) (1.1%)Vianorte 5.55 5.49 - 1.0% -Total: 5.40 5.35 5.35 1.0% 0.9%Total (pro forma *): 5.40 5.35 5.36 1.0% 0.7%* Pro forma : Considering the acquisition of Vianorte in January 01, 2006

1Q06 Var % 1Q07/1Q06

Var % 1Q07/4Q061Q07 4Q06

5

Net Revenue Performance

23% 23%

30% 24%

28,382 31,992 31,964

29,59434,365 32,714

39,16244,230 41,156

11,619 31,831

-

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

1Q06 4Q06 1Q07

41.7% 12.7%

Vianorte

Intervias

Centrovias

Autovias

Revenue Breakdown – 1Q07 Net Revenue Performance (R$ thousand)

Net Services Revenue(R$ thousand)

Autovias 31,964 31,992 28,382 (0.1%) 12.6%Centrovias 32,714 34,365 29,594 (4.8%) 10.5%Intervias 41,156 44,230 39,162 (7.0%) 5.1%Vianorte 31,831 11,619 - 174.0% -Total: 137,666 122,206 97,137 12.7% 41.7%Total (pro forma*) : 137,666 143,617 126,088 (4.1%) 9.2%* Pro forma : Considering the acquisition of Vianorte in January 01, 2006

1Q07 4Q06 1Q06 Var % 1Q07/4Q06

Var % 1Q07/1Q06

6

Adjusted EBITDA and Adjusted EBITDA MarginIn R$ thousand

62,428

76,978 79,847

73,987

87,292

79,847

1Q06 4Q06 1Q07 1Q06 4Q06 1Q07

64.3%63.0%

58.0%

58.7%60.8%

58.0%

Pro forma: Considering the acquisition of Vianorte since January 01, 2006

7

Net Financial Result

Financial Expenses Breakdown (% of total)

1Q07

BNDES/CEF

36%

41%

23%

4Q06

47%

38%

15% BNDES/CEF

1Q06

71%

13%

16%

M. C. of Fixed Concession Charge

Other Fin.

BNDES/CEF

M. C. of Fixed Concession Charge

Other Fin.

M. C. of Fixed Concession Charge

Other Fin.

Financial Revenues 5,030 4,424 6,240 13.7% (19.4%)Financial Expenses (24,360) (20,044) (10,712) 21.5% 127.4% BNDES/CEF (8,700) (7,690) (7,567) 13.1% 15.0% Other Financial Expenses (9,991) (9,433) (1,736) 5.9% 475.5% Monetary Correction of Fixed Concession Charge (5,669) (2,921) (1,409) 94.1% 302.3% Net Exchange Variation 26 (5) 48 - (45.8%)Net Financial Result (19,304) (15,625) (4,424) 23.5% 336.3% % Net Services Revenue 14.0% 12.8% 4.6%

Var % 1Q07/4Q06

Var % 1Q07/1Q06Financial Result (R$ thousand) 1Q07 4Q06 1Q06

8

Net Income

17,56618,433

9,152

1Q06 4Q06 1Q07

In R$ thousand

9

Net Debt

Our debt is 100% denominated Reais

103.0

429.1416.3

1Q06 4Q06 1Q07

1.5x1.4x

In R$ million

Net Debt

Adjust EBITDA (Last 12 months)

0.4x

10

CAPEX

CAPEX Real and Estimated

Programação

Autovias, Intervias and Vianorte are currently carrying out paving repairs and remodeling certain facilities at the toll roads.

Centrovias continue to duplicate the SP-225, expected to be concluded by 2007.

We plan to invest R$220 million in 2007 and R$292 million between 2008 and 2010.

169.1191.8

220.0¹

140.0

80.0

2004 2005 2006 2007E 2008E 2009E

188.1

CAPEX Breakdown – 1T07

72.0

2010E

48.5

18%

33%33%

16%

Between 2008 and 2010292,0³

In R$ million

³ Estimated Capex for Autovias, Centrovias, Intervias and Vianorte.

11

Share Performance since IPOUntil 05/04/2007

abr-0

7m

ar-0

7m

ar-0

7fe

v-07

jan-

07de

z-06

nov-

06no

v-06

out-0

6se

t-06

ago-

06ag

o-06

jul-0

6ju

n-06

jun-

06m

ai-0

6ab

r-06

mar

-06

mar

-06

fev-

06ja

n-06

jan-

06de

z-05

nov-

05ou

t-05

out-0

5se

t-05

ago-

05ag

o-05

OHL – 81.1%

BOVESPA – 95.7%

12

Notice

This presentation contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of OHL Brasil. These are merely projections and, as such, are based exclusively on the expectations of OHL Brasil’smanagement concerning the future of the business and its continued access to capital to fund the Company’s business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the industry and are, therefore, subject to change without prior notice.