2Q13 Earnings Release Presentation

2Q13

Highlights

2

2Q13 HIGHLIGHTS

• 2Q13 net revenues totaled R$238.2 million, an increase of 48% over 2Q12, when net revenues came in at R$160.9 million. The significant

growth resulted from additional rental revenues of properties delivered throughout the last twelve months;

• 2Q13 adjusted EBITDA of R$221.2 million, a 52% increase over 2Q12 and adjusted EBITDA margin of 93%;

• 2Q13 net income totaled R$49.8 million, impacted by the net gain on appraisal of investment properties and other non cash items;

• 2Q13 adjusted FFO excluding non-cash expenses totaled R$88.8 million, a 947% increase over 2Q12 and adjusted FFO margin of 37%;

• During 2Q13, the Company obtained leasing spreads (net of inflation) of 15.3% in office buildings and 14.6% in industrial properties;

• Financial vacancy rate was 10.8%, while physical vacancy rate came in at 5.5%. Excluding the recently delivered Ed. Paulista and the JK

Towers, currently under lease-up, stabilized financial and physical vacancy would drop to 3.6% and 3.1%, respectively;

• During 2Q13 the Company renegotiated R$983.6 million of TR-linked debt along the quarter, reducing its average cost from TR +

10.36% p.a. to TR + 9.39% p.a.;

• Standard & Poor’s altered its outlook on BR Properties from neutral to positive;

• In May, the company concluded its third issuance of non-convertible unsecured local debentures, raising R$450.0 million in a single

tranche at CDI + 0.80% p.a. maturing in three years, and fully amortized at the end of the period;

• Also in May, the company prepaid the R$260.0 million commercial papers issued in 2Q13, utilizing part of the proceeds from its third

issuance of non-convertible local debentures;

• In June, the Company delivered another major project of its portfolio, the first phase of Gaia Terra - Galpão Andiroba, located in Jarinu –

SP, currently 75% let.

2Q13

Portfolio

2Q13 Revenue Breakdown

Portfolio Breakdown

(% market value) Portfolio Breakdown

(% GLA)

3

Portfolio Market Value

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

4.751 4.918 5.142 5.254

11.71512.968 13.552 13.840 14.031 14.096

50%

20%

25%

4%

Off ice AAA Off ice Industrial Retail

18%

14%

63%

5%

Off ice AAA Off ice Industrial Retail

Services 0,8%

Straight-line 0,6%

Leasing 98,5%

67%

27%

7%

2Q13

Financial Highlights

4

Net Revenues (R$ thousand) Net Income* (R$ thousand)

* 2Q12 Net Income was largely impacted by a gain on

appraisal of investment properties of R$554.5million, after the

acquisition of One Properties.

2Q12 2Q13 6M12 6M13

160.935 238.214 262.128

464.141

48%

77%

2Q12 2Q13 6M12 6M13

332.390

49.847

785.103

140.740

(85%)

(82%)

2Q13

5

Financial Highlights

Adjusted EBITDA (R$ thousand)

90%93% 90%

93%

Adjusted EBITDA Margin

2Q12 2Q13 6M12 6M13

145.325 221.247 237.176

433.338

52%

83%

EBITDA Composition 2Q13 2Q12 var % 6M13 6M12 var %

Net Income (loss) 49.847 332.390 -85% 140.740 785.103 -82%

(+) Deferred Taxes 16.911 153.916 -89% 47.747 498.023 -90%

(+) Income and Social Contribution Taxes 18.083 12.104 49% 21.695 17.089 27%

(-) Minority Interest (603) - n/a (6.596) - n/a

(+) Depreciation 224 757 -70% 224 830 -73%

(+) Net Financial Result 176.179 184.952 -5% 311.041 200.832 55%

EBITDA 260.642 684.119 -62% 514.852 1.501.876 -66%

EBITDA Margin 109% 425% -316 p.p. 111% 573% -462 p.p.

Adjusted EBITDA Composition 2Q13 2Q12 var % 6M13 6M12 var %

EBITDA 260.642 684.119 -62% 514.852 1.501.876 -66%

(-) Gain (Loss) on Appraisal of Investment Properties (39.944) (554.489) -93% (88.820) (1.284.395) -93%

(-) Gain (Loss) on Sale of Investment Properties (2.250) 8.525 -126% (2.250) 8.525 -126%

(+) Other Operating Income 1.263 (1.646) -177% 6.211 (2.116) -393%

(+) Stock options 387 773 -50% 1.048 2.061 -49%

(+) Bonus Provision 1.149 1.149 0% 2.298 2.298 0%

(+) Merger Expenses - 6.894 n/a - 8.927 n/a

Adjusted EBITDA 221.247 145.325 52% 433.338 237.176 83%

Adjusted EBITDA Margin 93% 90% 3 p.p. 93% 90% 3 p.p.

2Q13

6

Financial Highlights

Adjusted FFO (R$ thousand)

Adjusted FFO Composition 2Q13

Net Income (loss) 49.847

(+) Deferred Taxes 16.911

(+) Taxes on Property Sales 820

(-) Gain (Loss) on Appraisal of Investment Properties (39.944)

(-) Gain (Loss) on Sale of Investment Properties (2.250)

(+) Non-cash Losses on Exchange Rate Variation 62.107

(-) Non-cash Gains on Exchange Rate Variation (3.543)

(+) Non-cash Variations on Derivative Instruments 5.427

(-) Minority Interest (603)

(+) Merger Expenses -

Adjusted FFO 88.772

Adjusted FFO Margin 37%

5%

21%

32% 34% 37%

Adjusted FFO Margin

19%

2Q12 3Q12 4Q12 1Q13 2Q13

8.482

34.830

64.679 77.236

88.772 311%

86%

15%

2Q13

Indebtedness

2Q13 Net Debt (R$ mn) 2Q13 Debt Profile

7

ST Debt Obligations for

Acquisitions

LT Debt Total Debt Cash Net Debt

668

5.684

5.023

12

5.004 661

41%

42%

11%

1%6% TR

CDI

IGPM

INPC

IPCA

Indebtedness 2Q13 1Q13 var %

Short Term Loans and Financing 679.678 941.695 -28%

Loans and Financing 603.183 871.586 -31%

Perpetual Bond 64.949 59.033 10%

Derivative Instruments - - n/a

Payables for Acquisition of Real Estate 11.547 11.076 4%

Long Term Loans and Financing 5.003.863 4.598.686 9%

Loans and Financing 4.422.211 4.070.176 9%

Perpetual Bond 581.652 528.510 10%

Gross Debt 5.683.541 5.540.381 3%

Cash and Cash Equivalents 660.598 771.193 -14%

Net Debt 5.022.943 4.769.188 5%

Portfolio Value 14.096.206 14.031.097 0%

Gross Debt / Portfolio Value (Loan to Value) 40% 39% 1 p.p.

Net Debt / Portfolio Value (Loan to Value) 36% 34% 2 p.p.

Adjusted EBITDA / Net Financial Expenses * 2,0x 1,7x 16%

Duration (years) 4,4 4,4 0%

Unsecured Debt / Total Debt 28% 24% 4 p.p.

* Considering Net Financial Expenses (ex. non-cash variations)

2Q13

Indebtedness

8

Debt Amortization Schedule (R$ million)

Loan to Value: Gross and Net Interest Coverage Ratio

Net Debt / Adjusted EBITDA

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

288

784

265

887

511

332 336

187

94 75 70 72 60

Principal

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13

0,6x

3,7x

4,9x

7,0x

6,0x5,5x

3,2x 3,4x

9,7x

7,8x7,3x

6,7x

5,6x 5,7x

Net Debt/EBITDA

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13

2,5x

3,5x

2,4x2,1x

1,4x1,6x

2,7x2,5x

3,0x

1,1x

1,5x 1,5x1,7x

2,0x

EBITDA / Net Financial Expenses

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13

38% 40%

24%

40%45%

43% 42% 41%40%

39%37% 38% 39%

40%

4%23% 21%

36%36%

35%

21% 21%

30%

35% 34% 34%34%

36%

LTV Gross Debt LTV Net Debt

2Q13

9

Operating Highlights

Leasing Spreads

Lease Contract Expiration Schedule

(% Revenues)

Lease Contract 3 Year Market Alignment

Schedule (% Revenues)

2013 2014 2015 >2016

7%8%

12%

73%

Leasing Spread 2Q13 2Q12 6M13 6M12

Leasing Spread - Office 15,3% 15,9% 16,7% 26,7%

Renegotiated GLA (m²) 3.169 17.147 10.421 40.040

% Office portfolio 1% 4% 2% 10%

Leasing Spread - Warehouse 14,6% 34,4% 9,7% 3,0%

Renegotiated GLA (m²) 12.129 2.871 28.017 62.634

% Warehouse portfolio 1% 0% 2% 5%

Leasing Spread - Retail n/a n/a n/a n/a

Renegotiated GLA (m²) - - - -

% Retail portfolio 0% 0% 0% 0%

2013 2014 2015 >2016

21%

26%

41%

12%

Lease Contracts Duration

All Contracts 6.1 Years

Build-to-Suit Contracts 6.9 Years

2Q13

Operating Highlights

10

Financial Vacancy per Segment

Vacancy Evolution

Impacted in 720 bps

by the delivery of the

JK Towers and Ed.

Paulista

1Q13 2Q13

8,3%

10,3%

0,6% 0,5%0,0% 0,0%

Off ice

Industrial

Retail

* An area of 9,214 sqm for the Manchete Building was

returned by the tenant in the second half of June/13. As a

penalty fee for early termination of the contract, BR Properties

received an amount of R$10.9 million, representing 6.3

monthly rents. The vacant area is currently under lease-up.

Property Type Financial Physical

Ed. Jacarandá Office 0,1% 0,1%

Ventura - Torre Oeste Office 0,3% 0,1%

Icomap Office 0,03% 0,05%

RB115 Office 0,1% 0,1%

Manchete * Office 1,2% 0,5%

JK Complex - Towers D&E Office 5,5% 1,7%

Cidade Jardim Office 0,6% 0,2%

Paulista Office 1,8% 0,6%

Santo Antonio Office 0,03% 0,03%

Raja Hills Office 0,1% 0,2%

Brasília Office 0,6% 0,4%

Total Office 10,3% 4,0%

BP Jandira Industrial 0,1% 0,2%

BP Jundiaí Industrial 0,1% 0,3%

DP Louveira #9 Industrial 0,1% 0,4%

BBP CEA Topázio Industrial 0,05% 0,1%

BBP Barão de Mauá-Brahms Industrial 0,04% 0,1%

Gaia Terra Andiroba Industrial 0,1% 0,3%

Cond.Ind.SJC Industrial 0,03% 0,1%

Total Industrial 0,5% 1,5%

Total Portfolio 10,8% 5,5%

3Q12 4Q12 1Q13 2Q13

3,2%2,6%

4,7%5,5%

4,5%4,0%

8,9%

10,8%Physical

Financial

2Q13

Capital Markets

11

Stock Performance – 6M13

-

10.000.000

20.000.000

30.000.000

40.000.000

50.000.000

60.000.000

70.000.000

80.000.000

-35%

-25%

-15%

-5%

5%

15%

Jan-13 Jan-13 Feb-13 Feb-13 Mar-13 Mar-13 Apr-13 Apr-13 May-13 May-13 Jun-13 Jun-13

ADTV

BR Properties

Ibovespa

Stock Performance (BRPR3) 2Q13 2Q12 var % 6M13 6M12 var %

Total Number of Shares 312.653.445 310.307.396 1% 312.653.445 310.307.396 1%

Free Float (%) 99% 99% 0% 99% 99% 0%

Stock Price (average for the period) 20,91 23,02 -9% 22,89 21,80 5%

Stock Price (end of period) 19,00 23,70 -20% 19,00 23,70 -20%

Market Cap end of period (R$ million) 5.940 7.354 -19% 5.940 7.354 -19%

Average Daily Trading Volume (R$ million) 55,14 36,51 51% 44,73 29,40 52%

Average Daily Traded Shares 2.698.460 1.592.098 69% 2.048.370 1.329.762 54%

Average Daily negotiations 7.594 4.074 86% 6.493 3.550 83%

2Q13

IR Contacts

Pedro Daltro

CFO & Investor Relations Officer

Marcos Haertel

Investor Relations Manager

Gabriel Barcelos

Investor Relations Analyst

Phone: (55 11) 3201-1000

Email: ri@brpr.com.br

www.brpr.com.br/ri

12

Investor Relations