A

B

C

Commodities
Term used to describe primary products or goods with a large share in the international market and that are purchased or sold on a mercantile exchange, including for future delivery. Examples: soybean, corn, wheat, coffee, cotton, sugar (agricultural), or steel (industrial), iron ore and oil.

Concession
Permission to use or run a certain public service, granted by the Government to an individual or company.

D

Dedicated operations
Customized logistics projects, including inbound operations and management of warehouses and distribution to endcustomers.

E

F

Free-float
Number of shares of a company available for trading in organized markets. The minimum free float required by the Novo Mercado is 25%.

G

Gauge
Regulatory measure; pattern; standard: term used in railways to describe the distance between the tracks, or between wheels on the axles of trains. In Brazil there are several gauges rails.

H

I

Intermodality
Total integration of the transport chain, enabling management of multiple transport modals.

J

K

L

M

N

O

P

Q

R

RTK
Revenue ton kilometer, calculated by multiplying the weight of the freight on the train by the distance transported.

S

Stakeholders
All the public that may have fi nancial, credit or other type of interest in the Company‘s businesses, such as clients, suppliers, shareholders, government, regulation bodies and people from the community.

T

Tag-along
This is the extension of the control premium to all shareholder. The right to sell shares owned by minority shareholders under the same terms obtained for the sale of the controlling block, in the event of a company changing ownership.

Take-or-Pay
Agreements between a purchaser and a seller of product or services that obliges the purchaser to pay a minimum amount in product or services, even if the product or service is not used or delivered.

U

V

W

X

Y

Yield
Average price obtained by the dividing the revenues by the transported volume.

Z