Page 1

rumo EARNINGS RELEASE 4Q20 Curitiba , February 11 , 2021 – RUMO S.A. ( B3 : RAIL3 ) ( “ Rumo " ) announces today its results for the fourth quarter of 2020 ( 4Q20 ) , comprising October , November and December . The results are presented on a consolidated basis , in accordance with the accounting practices adopted in Brazil and international standards ( IFRS ) . The comparisons made in this report consider the 4Q20 and 4Q19 , except when otherwise indicated . Rumo Highlights 4Q20 and 2020 • • • • The volume transported in 2020 was 62,5 billion of TKU , 3,9 % higher than 2019 , reflecting the increase in volume of 7,0 % in the North Operation and the impact on the volumes of South Operation due to a weaker crop and the lower demand for industrial products ( due to Covid - 19 ) , that also affected our Container Operations . The EBITDA reached R $ 3,664 million , with EBITDA Margin of 52,6 % . The Adjusted EBITDA was R $ 3,533 million , 8,4 % below 2019 , reflecting the more competitive environment due to pavement of BR - 163 Highway and lower prices of fuel . The Adjusted EBITDA Margin reached 50,7 % , 3,7 p.p. below 2019 . The net profit was R $ 305 million , against R $ 786 million in 2019 , due to the lower EBITDA and the increase in financial expenses derived from non - cash effect mark to market ( MTM ) and the concession fees of Central and Paulista Networks , which were charged in more months in 2020 than in 2019 . The year 2020 had important progress in the capital structure , with realization of follow - on , prepayment of concession fees and continuous process of liability management . Consequently , the net debt closed the year at R $ 7,2 billion and the leverage reached 1,9x the broad net debt / Adjusted EBITDA LTM . The capex reached R $ 2,979 million in 2020 , in line with the investment plan , reflecting the progress in the construction of Central Network in order to make it operational in the first quarter of 2021 , which amounted to R $ 711 million in the year . Summary of Financials ( Amounts in BRL mln ) 8.0 % Total transported volume ( million RTK ) 32.5 % Total volume loaded ( TU ' 000 ) 4Q20 16,197 3,533 4Q19 14,997 Chg . % 2020 2019 Chg . % 62,458 60,096 3.9 % 2,665 14,447 11,213 28.8 % 2,261 1,004 > 100 % Logistics solution volume ( TU ' 000 ) 7,033 4,335 62.2 % 1,662 1,664 -0.1 % Net Revenue¹ 6,966 7,088 -1.7 % ( 1,248 ) ( 1,092 ) 14.3 % Cost of goods sold² ( 4,722 ) ( 4,609 ) 2.4 % 414 24.9 % 572 -27.7 % Gross profit 2,245 2,479 -9.5 % 34.4 % -9.5 p.p. Gross margin ( % ) 32.2 % 35.0 % -2.8 p.p. ( 131 ) ( 98 ) 34.0 % Sales , general , and administrative expenses ( 438 ) ( 363 ) 20.6 % 56 ( 17 ) > 100 % Other op . revenues ( expenses ) 128 ( 25 ) > 100 % 2 6 -66.7 % Equity pickup 13 22 -40.9 % 340 464 -26.7 % Operational profit 1,948 2,113 -7.8 % 417 434 758 897 45.6 % 53.9 % 776 46.7 % 3 913 54.8 % -3.8 % Depreciation and amortization -15.6 % EBITDA -8.3 p.p. EBITDA margin ( % ) -15.6 % Adjusted EBITDA³ 1,716 1,716 0.0 % 3,664 3,829 -4.3 % 52.6 % 54.0 % -1.4 p.p. 3.533 3.857 -8.4 % 0.2 % 202 12.1 % -8.2 p.p. Adjusted EBITDA margin ( % ) -98.5 % Net profit 50.7 % 54.4 % -11.9 p.p. Net margin ( % ) 305 4.4 % 786 -3.7 p.p. -61.2 % 11.1 % -6.7 p.p. 997 565 76.5 % Capex 2,979 1,943 53.3 % Note 1 : Includes revenue from the right - of - way of other railways , revenue from sugar transportation using other railways , or road transportation , and revenue from volumes contracted , but not executed , according to commercial agreements ( take - or - pay ) . Note 2 : Includes R $ 24,6 million of depreciation and amortization of the Central Network , since it is not yet operational . Note 3 : In the 4Q20 and 2020 , without the effects of Central Network , the effects of the renewal of Paulista Network and the Provision for impairment of the West Network , and in the 4Q19 and 2019 without effects of the Central Network . Earnings Conference Call English - 12:00 p.m. ( ET ) February 12 , 2021 ( Friday ) Dial - in : +55 11 3181 8565 Dial - in ( US ) : +1 844 204 8942 Password : RUMO Investor Relations RAIL3 E - mail : ir@rumolog.com Phone : +55 41 2141-7555 Website : ir.rumolog.com NOVO MERCADO BM & FBOVESPA