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2Q13 Presentation

Presenters

Marcos Lopes – CEO

Francisco Lopes – COO

Marcello Leone – CFO and IRO

Bruno Gama - COO CrediPronto!

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This presentation does not constitute or form part of any offer, or invitation or solicitation of any offer to purchase,

sell or subscribe for shares or other securities of the Company, nor shall this presentation or any information

contained herein form the basis of, or act as inducement to enter into, any contract or commitment whatsoever.

This presentation contains financial and other information related to the business operations of Lopes –LPS Brasil

Consultoria de Imóveis S.A and its subsidiaries (“LPS” or the “Company”) as of and for the period ended June

30th 2013. It should not be considered as a recommendation for prospective investors to sell, purchase or

subscribe for securities of the Company. The information presented herein is in summary form and does not

purport to be complete. No reliance should be placed on the accuracy completeness of the information

contained herein, and no representation or warranty, express or implied, is given on behalf of the Company or

its subsidiaries as to the accuracy completeness of the information presented herein.

This presentation contains forward-looking statements. Investors are advised that whilst the Company believes

they are based on reasonable assumptions by Management, forward-looking statements rely on current

expectations and projections about future events and financial trends, and are not a guarantee of future results.

Forward-looking statements are subject to risks and uncertainties that affect or may affect business conditions

and results of operations, which therefore could materially differ from those anticipated in forward-looking

statements due to several factors, including competitive pressures, Brazilian macroeconomic conditions,

performance of the industry, changes in market conditions, and other factors expressed or implied in these

forward-looking statements or disclosed by the Company elsewhere, factors currently deemed immaterial.

The forward-looking statements contained herein speak only as of the date they are made and neither

Management, nor the Company or its subsidiaries undertake any obligation to release publicly any revision to

these forward-looking statements after the date of this presentation or to reflect the occurrence of unanticipated

events.

Forward-looking statements

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Schedule

I. Highlights

II. Operational Results

III. Credipronto!

IV. Financial Results

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Highlights

Highlights 2Q13

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Record of transactions closed in a second quarter (R$ 5.4 billion) and in a first half (R$ 9.7 billion). Growth of 9%

year over year

Transactions closed in the primary market grew 13% in the quarter and 10% in the semester, reaching R$ 4.2

billion and R$ 7.4 billion, respectively. Best second quarter and first half of company’s history

Secondary market sales was R$ 1.2 billion in 2Q13 and R$ 2.3 billion in the 1H13

Net revenue came to R$ 137.4 million, up 29% from the second quarter of 2012

EBITDA of R$ 63.1 million, growth of 49% from 2Q12. EBITDA Margin of 45.9%, 610 bps above 2Q12

Net Income of Controlling Shareholders before IFRS was R$ 40.6 million with net margin of 29.5%. Growth of

43% above 2Q12 and an improvement of 290 bps of Net Margin

CrediPronto!’s best quarter ever in mortgage loans origination with R$ 530 million in 2Q13, up 40% from 2Q12

Increase of 47% of CrediPronto!’s ending portfolio balance when compared to 2Q12

CrediPronto! has already achieved 22% of CrediPronto’s earnout , recognizing R$ 17.5 million in the 2Q13. This

recognition is partial and a complete calculation will be held during 2013

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Operational Results

Transactions Closed

(R$ MM)

Transactions Closed

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Number of Transactions Closed

1H12 1H13

6,710

2,195

8,905

7,389

2,316

9,705

+9%

2Q12

1,192

2Q13

+9%

5,352

4,160

4,902

3,666

1,236

Secondary Market Primary Market

4,972

19,997

27,780

1H12

22,808

1H13

4,398

24,395

-12%

-14%

2Q13

15,072

2Q12

10,807

2,184

12,498

2,574 12,991

(# units)

Sales Speed over Supply

Lopes' Consolidated Sales Speed Habitcasa’s Sales Speed

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2Q13

15.9%

1Q13

16.6%

2Q13

30.0%

1Q13

30.4%

(%) (%)

Transactions closed/supply ratio remains steady compared to 1Q13

Units

Transactions Closed

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12,991 units

R$ 5,352 million

Transactions Closed by Income Segment – Primary / Secondary Markets

37%

24%

31%

8%

44%

27%

23%

6%

9%

35%

15% 41%

>600 <150 150-350 350-600

16%

36%

24%

24%

R$ 4,902million

15,072 units

2Q12 2Q13

2Q12 2Q13

Transactions Closed by Region – Primary and Secondary Market

Transactions Closed

10

5%

12%

5%

21%

50%

6% 4%

14%

3%

21%

53%

4%

Northest

South

Brasília

Rio de janeiro

São Paulo

Others

2Q12 2Q13

Increase of stake of São Paulo and South regions

Breakdown of Transactions Closed

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Breakdown Transactions Closed

(%)

1Q13

39%

61%

1Q12

40%

60%

Listed Homebuilders

Non Listed Homebuilders

Breakdown Transactions Closed Primary Market

(%)

22%

47%

30%

Listed Homebuilders

Secondary Market

Non Listed Homebuilders

Breakdown of Homebuilders

49% 53% 55%

64% 67%

51% 47% 45% 36% 33%

2010 2011 2012 1Q13 2Q13

Other Homebuilders Top 10 Homebuilders

8% 10% 9% 7% 5%

7%

5% 7% 5%

5%

6% 5%

5%

5% 4%

6% 5% 5% 5% 4%

5% 4% 4% 4% 3%

2010 2011 2012 1Q13 2Q13

1st 2nd 3rd 4th 5th

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Breakdown – Homebuilders Breakdown Top 5 Homebuilders

(%) (%)

LPS Brasil in the Mortgage Market

CrediPronto!

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CrediPronto!

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R$530 MM in Mortgages

Average LTV of 59.7%

1,726 Contracts Average Period of 307 months

Average Rate of 8.7% + TR

2Q13

Mortgage Loan Volume

CrediPronto!

(R$ MM)

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(R$ MM)

Mortgage Portfolio

530

378

+40%

2Q13 2Q12

+47%

Ending Portfolio Balance 2Q13

3,328

Ending Portfolio Balance 2Q12

2,266

The average portfolio balance was R$ 3.1 billion in 2Q13. The total volume granted until Jun, 13 reached R$ 4.5 billion

CrediPronto!

392 517

707 881

1.162

1.454

1.756

1.989

2.266

2.492

2.771 2.986

3.328

Jun, 10 Sep, 10 Dec, 10 Mar, 11 Jun, 11 Sep, 11 Dec, 11 Mar, 12 Jun, 12 Sep, 12 Dec, 12 Mar, 13 Jun, 13

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Ending Portfolio Balance

(R$ MM)

The ending portfolio balance of Credipronto! has been growing on average 6.1% per month since Jun,10 and reached R$ 3.3 billion in Jun, 13

Financial Results

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Net Commission by Market

Net Comission Fee

2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13

BRAZIL 2.4% 2.4% 2.4% 2.3% 2.4% 2.4% 2.4% 2.4% 2.4%

Primary

SP 3.0% 2.9% 3.1% 2.8% 3.1% 3.0% 2.9% 2.9% 2.9%

Habitcasa 1.9% 2.1% 2.1% 2.0% 1.9% 2.1% 2.0% 2.4% 2.4%

RJ 2.0% 2.2% 2.1% 2.1% 2.1% 2.0% 2.2% 2.2% 2.1%

Other Markets 2.1% 2.1% 2.1% 2.1% 2.0% 2.1% 2.1% 2.1% 2.1%

Secondary

SP 2.3% 2.3% 2.4% 2.2% 2.2% 2.4% 2.2% 2.3% 2.4%

RJ 2.5% 2.4% 2.3% 2.3% 2.0% 2.3% 2.2% 2.3% 2.2%

Other Markets 2.4% 2.4% 2.5% 2.3% 2.5% 2.1% 2.5% 2.0% 2.3%

Gross and Net Revenue

Net Revenue

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(R$ MM)

Gross Revenue

(R$ MM)

+27%

2Q13 2Q12

121.8 137.1

17.5

154.6

+13%

120.6

2Q12 2Q13

+29%

106.6

137.4

+13%

16.8

Net revenue grew 29% and reached R$ 137.4 million in 2Q13

CrediPronto’s earnout CrediPronto’s earnout

2Q13 Gross Revenue Reconciliation

IMPORTANT CRITERIA FOR CONTRACTED SALES

The contracted sales released in the quarter is exclusively based on the invoiced sales,

which multiplied by the net commission result in the gross revenue of the quarter.

Thus, the contracted sales meets all the criteria for accounting the Company’s gross

revenue, even including the contract approval by the homebuilder. Additional sales

generated during this same period, that do not meet all the accounting criteria were not

considered as contracted sales of the period.

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2Q13 - Gross Revenue Reconciliation (R$ Million)

Contracted Sales (a) 5,352

Net Comission (b) 2.4%

Gross Brokerage

Revenue (a) x (b)130.2

Earn Out Recognition 17.5

Revenue to Accrue from Itaú

Operations3.6

Other revenues 4.6

Adjustment to Present Value (1.3)

Gross Revenue 154.6

2Q13 Results

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Results 2Q13 Before IFRS

(R$ thousand)

Lauches Pronto! CrediPronto!Consolidated

Ex. Non-recurringNon-recurring Consolidated

Gross Service Revenue 104,835 27,734 4,562 137,132 17,468 154,599

Revenue from Real Estate Brokerage 102,283 27,924 4,562 134,769 - 134,769

Revenue to Accrue from Itaú Operations 3,625 - - 3,625 - 3,625

Earn Out - - - - 17,468 17,468

Adjustment to Present Value (1,072) (190) - (1,262) - (1,262)

Net Operating Revenue 92,060 24,354 4,168 120,581 16,830 137,412

(-)Costs and Expenses (36,486) (13,735) (4,121) (54,342) (2,126) (56,468)

(-)Shared Services (13,648) (3,611) - (17,259) - (17,259)

(-) Stock Option Expenses CPC10 (413) - - (413) - (413)

(-) Expenses to Accrue from Itaú (238) - - (238) - (238)

(+/-) Equity Equivalence - - 99 99 - 99

(=)EBITDA 41,274 7,009 146 48,429 14,704 63,133

EBITDA Margin 44.8% 28.8% 3.5% 40.2% 45.9%

(-)Depreciation and amortization (2,313) (1,430) - (3,743) - (3,743)

(+/-) Financial Result 3,129 481 0 3,610 - 3,610

(-)Income tax and social contribution (8,339) (2,548) (496) (11,384) (1,898) (13,282)

(=)Net income before IFRS 33,751 3,512 (350) 36,913 12,806 49,718

Net Margin before IFRS 36.7% 14.4% -8.4% 30.6% 36.2%

(-) Non-controlling Shareholders (9,132) (9,132)

(=) Net Income Attributable to Controlling Shareholders Before IFRS* 27,781 12,806 40,587

Net Margin Controlling Shareholders 23.0% 29.5%

*We consider the net income ajusted by non cash IFRS 3 effects (Business Combination) the best net income indicator

A

B

C

A

B

C

Net effect of partial recognition of the second installment of CrediPronto’s earnout;

Non-recurring expenses: (R$ 1.8 million) restructuring charge and (R$ 0.3 million) bonus accrual referred to partial recognition of CrediPronto’s earnout;

Income Tax impact referred to partial recognition of CrediPronto’s earnout;

Net Income 2Q13 by segment

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Launches Net Income Before IFRS

Net Margin (%)

33,751 (37%)

Earnout impact

3,688

Taxes over intangible assets

851

Amortization of intangible assets

6,365

Call/put effect

7,423

Launches Net Income After IFRS

Net Margin (%)

22,800 (25%)

3,512 (14%)

Earnout Impact

6,026

Call/put effect

9,489

Amortization of intangible assets

4,826

Impairment

11,929

Pronto! Net Income after IFRS

Net Margin (%)

2,272 (9%)

Pronto! Net Income Before IFRS

Net Margin (%)

Net Income from launches 2Q13 (R$ Thousand)

Net Income from Pronto! 2Q13 (R$ Thousand)

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2Q13 Results – Launches segment before IFRS

Launches EBITDA & Margin

Launches Net Income & Margin before IFRS

+19%

33.8

(37%)

2Q12 2Q13

28.4

(36%)

(R$ MM) (R$ MM)

41.3

(45%)

2Q12

35.0

(44%)

+18%

2Q13

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2Q13 Results – Pronto! segment before IFRS

7.2

(28%) 7.0

(29%)

2Q12 2Q13

-3%

Pronto! EBITDA & Margin

Pronto! Net Income & Margin before IFRS

2Q12

7.0

(28%)

-50%

3.5

(14%)

2Q13

(R$ MM) (R$ MM)

EBITDA and Net Income

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2Q12

42.4 (40%)

2Q13

48.4 (40%)

+49%

63.1 (46%)

+14%

14.7

EBITDA1

EBITDA Margin (%)

(R$ MM)

12.8

2Q12 2Q13

+43%

-2%

28.4 (27%)

27.8 (23%)

40.6 (30%)

Net Income Attributable to Controlling

Shareholders ex-IFRS 2

Net Margin (%)

(R$ MM)

1) Includes results from subsidiaries and companies under shared-control, in accordance with equity accounting, and results from non-controlling shareholders. Note: EBITDA is not an accounting measure and does not represent the cash flow for the reported periods, and therefore should not be used as an alternative to cash flow as a measure of liquidity. The Company’s EBITDA was calculated in accordance with CVM Instruction 52. a. 2) We consider the net income adjusted by non cash IFRS 3 effects (Business Combination) the most accurate net income indicator. 3) Non recurring: Partial recognition of the 2nd installment of CrediPronto's earnout, expenses related to CrediPronto's earnout and restructuring charge.

Non-recurring³ Non-recurring³

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IFRS Impacts – Net Income before non-controlling shareholders

(1) Impairment of Goodwill and Intangible Assets from Acquisition. Since 2010, the acquisitions made by LPS Brasil are

accounted by the “CAP” of “Earnout” amounts. Every year, as the CAP amounts are not confirmed by the performance of the companies, goodwill and intangible assets are impaired accordingly, with a counter-entry reducing the earnout amounts payable. (2) Amortization of Intangible Assets. (3) Combined effect from: i) Gains and Losses, with non-cash net effects, from the booking of call and put options at subsidiaries, based on the fair value of future estimates, and ii) non-cash correction/write-off of earnout installments payable.

(4) Deferred income tax on intangible assets of LPS Brasil. (5) Effects related to deferred income tax and amortization of intangible assets at non-controlling shareholders.

R$ Thousand

DescriptionBefore

IFRSIFRS Effects* After IFRS

Net Operating Revenue 137,412 137,412

Costs and Expenses -72,483 -11,929 -84,412 (1)

Non-Recurring Losses -1,796 0 -1,796

Depreciation and Amortization -3,743 -11,191 -14,934 (2)

Finance Result 3,610 11780 15,390 (3)

Operational Profit 63,001 -11,340 51,661 (1)+(2)+(3)

Income tax and social contribution -13,283 -851 -14,134 (4)

Net Income 49,718 -12,191 37,527 (1)+(2)+(3)+(4)

Non-controlling Shareholders -9,131 4718 -4,413 (5)

Net Income attributable to

controlling shareholders40,587 -7,473 33,114 (1)+(2)+(3)+(4)+(5)

* IFRS 3 non cash effects (business combination)

CONTACTS

IR Tel. +55 (11) 3067-0218

E-mail: ri@lopes.com.br www.lopes.com.br/ir

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