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2Q12 Presentation

Presenters

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 2012. 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

Total value of real estate transactions closed of R$ 4.9 billion, of which R$3.7

billion in primary market and R$ 1.2 in secondary market;

Historical record of R$ 1.2 billion in transactions closed in the secondary market,

achieving 25% of our total transactions closed;

Net Revenue of R$109.2 million;

Ebitda reached R$ 42.3 million with margin of 39%;

Net Income Attributable to Controlling Shareholders before IFRS of 28.4 million

with margin of 26%. Growth of 12% versus 2Q11(ex-Earn Out);

Net Income Attributable to Controlling Shareholders after IFRS of 38.4 million with

margin of 35%. Growth of 50% versus 2Q11(ex-Earn Out);

15% in CrediPronto! origination from 2Q11, with R$378 million in mortgage loans

in 2Q12;

Conclude the 4th acquisition of the year in July/12, LPS Raul Fulgêncio the

market leader of Londrina city. The most relevant acquisition since Patrimóvel.

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6

Operational Results

Transactions Closed

(R$ thousand)

Transactions Closed

7

Number of Transactions Closed

-1%

2Q12

4,902

3,666

1,236

2Q11

4,957

3,872

1,085

Primary Market Secondary Market

-12%

2Q12

15,072

12,498

2,574

2Q11

17,125

14,832

2,293

The Transactions Closed in 2Q12 maintained the same level of the same period the year

before, despite of the retraction of 19% in sales of listed homebuilders¹ in the primary market

¹ Value based on the previous Listed Homebuilders - does not include Viver, JHSF, CR2 and CCDI.

(R$ thousand)

Sales Speed over Supply

Lopes' Consolidated Sales Speed Habitcasa’s Sales Speed

8

2Q12

16.2%

1Q12

22.8%

2Q12

38.2%

1Q12

35.3%

Units

Transactions Closed

9

15,072 units

R$ 4,902 million

Transactions Closed by Income Segment – Primary and Secondary Markets

32%

23%

35%

10%

37%

24%

31%

8%

8%

43%

15% 34%

>600 <150 150-350 350-600

9%

35%

15% 41%

R$ 4,957 million

17,125 units

2Q12

2Q12

2Q11

2Q11

Transactions Closed by Region – Primary and Secondary Market

Transactions Closed

10

4%

12%

8%

24%

47%

5%

5%

12%

5%

21%

50%

6%

Nordeste

Sul

Brasília

Rio de janeiro

São Paulo

Outros

2Q11 2Q12

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Breakdown of Transactions Closed

Breakdown – Transactions Closed

2Q12

25%

30%

45%

2Q11

22%

35%

43%

1H12

25%

31%

45%

1H11

21%

36%

43%

Secondary Market Listed Homebuilders Non-Listed Homebuilders

8,706

1Q11

7,171

1Q12*

5,491

1Q11 1Q12

5,601

-22%

-37%

* Value based on the previous Listed Homebuilders - does not include Viver, JHSF, CR2 and CCDI.

Evolution of Launches 1Q12

Evolution of Launches – Listed Homebuilders and Lopes

Listed Homebuilders

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Breakdown Homebuilders

Breakdown Top 5 Homebuilders Breakdown – Homebuilders

49% 53% 56%

54%

51% 47% 44% 46%

2010 2011 1Q12 2Q12

Demais Clientes 10 Maiores Clientes

292 236 301 7.6% 9.5% 8.9%

6.2%

7.1%

5.3% 6.2%

6.1%

6.1% 5.2% 5.0%

5.6%

6.1% 5.1% 4.4% 5.3%

4.7% 4.0% 4.1% 5.1%

2010 2011 1Q12 2Q12

1st 2nd 3rd 4th 5thOther Clients Top 10 Homebuilders Other Homebuilders

# Homebuilders

272

LPS Brasil in the Mortgage Market

CrediPronto!

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CrediPronto!

15

R$378MM in Mortgages

Average LTV of 58,02%

1,243 Contracts Average Period of 302 months

Average Rate of 9,91% + TR

2Q12

Financed Volume

CrediPronto!

(R$ MM)

16

(R$ MM)

Accumulated Volume Sold*

*It doesn’t include amortization.

In the second quarter of 2012, the CrediPronto! financed R $ 378 million, up 15% compared to 2Q11.

378

328

+15%

2Q12 2Q11

+107%

2Q12

2,775

2Q11

1,341

Mortgages Portfolio

CrediPronto!

The Average Portfolio Balance in 2Q12 was R$2.1 billion.

(R$ MM)

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+14%

Ending Portfolio Balance

2,266

Starting Portfolio Balance

1,989

Accumulated Sales Volume *

CrediPronto!

(R$ MM)

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The CrediPronto! exceeded the $ 2.7 billion in financing since the beginning of the operation.

*Not including amortization.

217 291 385

474 591

727 854

1,013 1,219

1,461

1,698

1,956 2,153

2,397

2,775

jan

/10

feb

/10

ma

r/10

ap

r/10

ma

y/1

0

jun

/10

jul/

10

au

g/1

0

sep

/10

oc

t/10

no

v/1

0

de

c/1

0

jan

/11

feb

/11

ma

r/11

ap

r/11

ma

y/1

1

jun

/11

jul/

11

au

g/1

1

sep

/11

oc

t/11

no

v/1

1

de

c/1

1

jan

/12

feb

/12

ma

r/12

ap

r/12

ma

y/1

2

jun

/12

Financial Results

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Net Commission by Market

Net Comssion Fee

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

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

Primary

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

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

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

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

Secondary

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

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

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

Gross and Net Revenue

Net Revenue

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(R$ MM)

Gross Revenue

(R$ MM)

This quarter we have achieved R$ 109.2 million in net revenue.

+2% Earn out Itaú

2Q12

125.1

2Q11

138.0

122.3

15.6

109.2

-2% Earn Out Itaú

2Q12 2Q11

126.7

111.1

15.6

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 R$4.9 billion in contracted sales in the 2Q12 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.

2Q12 - Gross Revenue Reconciliation (R$ Million)

Contracted Sales (a) 4,902

Net Comission (b) 2.37%

Gross Brokerage

Revenue (a) x (b)116.2

Revenue to Accrue from Itaú

Operations3.6

Other revenues 5.4

Gross Revenue 125.2

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Results 2Q12

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Results 2Q12 Before IFRS

(R$ thousand)

LAUNCHES PRONTO! CREDIPRONTO! CONSOLIDATED

Gross Service Revenue 90,211 28,965 5,974 125,150

Revenue from Real Estate Brokerage 86,586 28,965 5,974 121,525

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

Earn Out - - - -

Net Operating Revenue 78,959 25,352 4,879 109,191

(-)Costs and Expenses (32,380) (14,377) (4,765) (51,523)

(-)Holding (11,152) (3,758) - (14,910)

(-) Stock Option Expenses CPC10 (235) - - (235)

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

(=)EBITDA 34,954 7,217 114 42,285

EBITDA Margin 44.3% 28.5% 2.3% 38.7%

(+/-) Other nonrecurring results - - - -

(-)Depreciation and amortization (3,278) (773) (14) (4,065)

(+/-) Financial Result 4,489 216 24 4,729

(-)Income tax and social contribution (7,737) 354 (93) (7,476)

(=)Net income before IFRS* 28,428 7,013 32 35,473

Net Margin before IFRS 36.0% 27.7% 0.7% 32.5%

(=)Net income after IFRS 40,902 959 32 41,893

Net Operating Margin 51.8% 3.8% 0.7% 38.4%

(-) Non-controlling Shareholders (3,453)

(=) Net Income Attributable to Controlling Shareholders After IFRS 38,440

Net Margin Controlling Shareholders 35.2%

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

Net Income 2Q12 by segment

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Launches Net Income Before IFRS

36%

28,428

Amortization of intangible assets

4,808

Taxes over intangible assets

6,447

Non-cash call/put effect

23,530

Earnout impact

199

Launches Net Income After IFRS

52%

40,902

Pronto! Net Income Before IFRS

28%

7,013

Amortization of intangible assets

4,877

Taxes over intangible assets

0

Non-cash call/put effect

1,026

Earnout Impact

151

Pronto! Net Income after IFRS

4%

959

Net Income from launches 2Q12 (R$Thousand)

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

Results 2Q12 - Launches

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Results Launches 2Q12 Before IFRS

(R$ thousand)

2Q11 2Q12 ∆%

(=)Transactions Closed 3,872,299 3,666,329 -5.3%

(=)Gross Revenue 94,787 90,210 -4.8%

(-)Deductions (8,697) 11,251 -229.4%

(=)Net Revenue 86,090 78,959 -8.3%

(-)Costs and Expenses (31,773) (32,853) 3.4%

(-)Holding (13,356) (11,152) -16.5%

(=)EBITDA 40,960 34,954 -14.7%

EBITDA Margin 47.6% 44.3% - 3.3 p.p.

(-)Depreciation and amortization (3,304) (3,278) -0.8%

(+/-)Financial Result 6,661 4,489 -32.6%

(-)Income tax and social contribution (10,493) (7,737) -26.3%

(=)Net Income 33,824 28,428 -16.0%

Net Margin 39.3% 36.0% - 3.3 p.p.

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Results 2Q12 – Launches before IFRS

34.954

40.960

-15%

2Q12

44,3%

2Q11

47,6%

Launches EBITDA & Margin

Launches Net Income & Margin before IFRS

28.428

33.824

39,3% 36,0%

-16%

2Q12 2Q11

(R$ Thousand) (R$ Thousand)

Results 2Q12 – Pronto!

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Results Pronto! 2Q12 Before IFRS

(R$ thousand)

2Q11 2Q12 ∆%

(=)Transactions Closed 1,085,166 1,235,634 13.9%

(=)Gross Revenue 27,068 28,965 7.0%

(-)Deductions (2,484) (3,613) 45.4%

(=)Net Revenue 24,584 25,352 3.1%

(-)Costs and Expenses (14,396) (14,377) -0.1%

(-)Holding (3,743) (3,758) 0.4%

(=)EBITDA 6,445 7,217 12.0%

EBITDA Margin 26.2% 28.5% + 2.2 p.p.

(-)Depreciation and amortization (709) (773) 9.0%

(+/-)Financial Result 103 216 109.2%

(-)Income tax and social contribution (1,521) 354 -123.3%

(=)Net Income 4,318 7,013 62.4%

Net Margin 17.6% 27.7% + 10.1 p.p.

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Results 2Q12 – Pronto! Before IFRS

7.217

6.445

2Q11

26,2%

+12%

2Q12

28,5%

Pronto! EBITDA & Margin

Pronto! Net Income & Margin before IFRS

7.013

4.318

+62%

17,6%

2Q12

27,7%

2Q11

(R$ Thousand) (R$ Thousand)

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Operational Expenses

* Does not consider IFRS

Evolution of Operational Expenses*

(R$ MM)

-1%

2Q12

66.9

62.1

4.8

2Q11

67.5

63.8

3.7

Launches + Secondary (Pronto!)

CrediPronto!

EBITDA

EBITDA* Margin EBITDA¹(%)

(R$ MM)

30 * We consider the EBITDA, excluding other operating expenses (revenues), that considers IFRS non-cash, as the company

performance indicator

¹ The 2Q11 margin does not consider Itaú Earn Out net of taxes.

-4%

Earn Out Itaú

2Q12

42.3 (38.7%)

2Q11

59.2

44.1 (39.7%)

15.1

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IFRS Impacts – Net Income before non-controlling shareholders

DescriptionBefore

IFRSIFRS Effects* After IFRS

Net Operating Revenue 109,191 109,191

Costs and Expenses -66,906 0 -66,906

Depreciation and Amortization -4,065 -9,685 -13,750 (1)

Finance Result 4,729 22,552 27,281 (2)

Operational Profit 42,948 12867 55,815 (1)+(2)

Income tax and social contribution -7,476 -6447 -13,923 (3)

Net Income 35,473 6420 41,893 (1)+(2)+(3)

* IFRS 3 non cash effects (business combination)

(1) Amortization of Intangible Assets

(2) Combined effects: i) Gains and losses with net non-cash effects of call and put options from controlled companies, based on the fair value according to future estimates and ii) non-cash impacts from payable earnouts

(3) Deferred Income Tax over effects of call and put on LPS Brasil.

Net Income Attributable to Controlling Shareholders

Net Income Attributable to Controlling

Shareholders (shareholders of LPB3)

Net Margin¹

(R$ Million)

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Net Income Attributable to Controlling

Shareholders before IFRS * (shareholders of LPB3)

Net Margin¹

2Q12

39.4

25.3 (23%)

14.1

2Q11

Earn out Itaú

28.4 (26%)

+12%

(R$ Million)

+50% Earn out Itaú

2Q12

38.4 (35%)

2Q11

39.7

25.6 (23%)

14.1

¹ The 2Q11 margin does not consider Itaú Earn Out net of taxes.

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

500 545 589

2012(e) 2013(e) 2014(e) 33

Acquisition

Raul Fulgencio Negócios Imobiliários

• Location: Londrina (PR)

• Date of acquisition: July 05, 12

• LPS Brasil’s stake: 51%

• Investment: R$ 36.7 million

Fachada

Operates in the primary and secondary

markets and real estate management since

1997

Leadership in the market in Londrina:

• +50% of share in the primary market

• Total value of real estate transactions

nearly R$ 100 million/p.y. in the

secondary market

• 90% of primary market sales coming

from non listed homebuilders

Source: LPS Brasil. 1) Projected values

Strategy

• Verticalization rate of 20.5%. Equivalent to Curitiba city, with 26.5% and higher than the average of Paraná State, with 9.0%

• Population of 507 thousand: 13% with household income over R$ 6 thousand/monthly (potential customers to acquire properties above R$ 250 thousand)

• Credipronto! holds exclusivity for all mortgages loan

Raul Fulgêncio’s forecast1

Total value of real estate transactions1 (R$ MM)

2Q12 Earnings Conference Call

Portuguese English

Date: 08/14/2012, Tuesday Date: 08/14/2012, Tuesday

Time: 09h00 a.m. (BR Time) 08h00 a.m. (NY Time)

Time: 13h00 p.m. (BR Time) 12h00 a.m. (NY Time)

Telephone: (11) 2188 0155 Password: Lopes

Telephone Brazil: +55 (11) 2188 0155 Telephone US: (+1) 866 890 2584

Telephone other countries: (+1) 646 843 6054 Password: Lopes

Replay: Replay: http://webcall.riweb.com.br/lpsbrasil/ http://webcall.riweb.com.br/lpsbrasil/english/

CONTACTS

Marcello Leone CFO and IRO

Tel. +55 (11) 3067-0015

IR Tel. +55 (11) 3067-0218

E-mail: ri@lopes.com.br

www.lopes.com.br/ir

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