Corporate Presentation

September, 2012

DISCLAIMER

The Company makes forward looking statements that are subject to risks anduncertainties. These statements are based on the beliefs and assumptions of our management as wellas on information currently available to us. Forward-looking statements include information regarding ourcurrent intent, beliefs or expectations, in addition to those of the members of the Board of Directors andExecutive Officers of the Company.

Forward-looking statements also include information regarding our possible or assumed future operatingresults, as well as statements preceded or followed by, or that include, the words ''believes”, ''may”,''will”, ''continues”, ''expects”, ''anticipates”, ''intends”, ''plans”, ''estimates”, or similarexpressions.

Forward-looking statements are not guarantees of performance. They involve risks, uncertainties andassumptions, for they relate to future events, thus depending on circumstances that may or may notoccur. Our future results and the creation of value to shareholder s may differ significantly from thoseexpressed in or suggested by these forward-looking statements. Many factors determining theseresults and values are beyond Cielo’s ability to control or predict.

2

BRAZIL | CARD INDUSTRY

3

17.1%18.9%

20.7%22.5%

24.3%

26.9% 27,1%28,2%

2006 2007 2008 2009 2010 2011 1Q12 2Q12*

Penetration Of Cards as Means of Payment in the Private Consumption Expenditure (PCE)

Source: ABECS e IBGE* The Q2 numbers are estimated

BRAZIL | MACROECONOMIC SCENARIO

4

4.0

6.1

5.1

-0.2

7.5

2.7

1.6

2006 2007 2008 2009 2010 2011 2012(E)

GDP ( %)

PIB: IBGE(E) Estiimates- Focus Report- BCB

9.5

6.7

4

5

6

7

8

9

10Unemployment (%)

Source: IBGE

0

2

4

6

8

10

12

14

16

18Retail Trade Sales (%)

Source: IBGE

45% 46% 43% 44% 41% 42%55%

54%57%

56%59% 58%

0,0

10,0

20,0

30,0

40,0

50,0

0

500

1.000

1.500

2.000

2.500

2007 2008 2009 2010 2011 jul/12

Credit/GDPCredit (R$million)

Credit Evolution

Individuals Legal Entities Credit/GDP

936

1,2271,414

1,704

Source: BCB

2,0302,184

BRAZIL | ECONOMIC SCHEME

Gross MDR

Net MDR Interchange Fee

The brand defines the interchange fee.

5

The acquirer negotiates the gross MDR with the merchant.

MERCHANTS

BRAZIL | TRANSACTION FLOW

MERCHANTSCARD HOLDERS CARD HOLDERS MERCHANTS

ISSUER ISSUER

Credit Transaction Debit Transaction

6

Brazil has a total areaof 8,514,876 km²

MAIN ENTRY BARRIER | BANKING DISTRIBUTION

NUMBER OFBRANCHES

Others Total

NORTH304 277 92 36 107 40 0 0 2 55 913

NORTHEAST 1,152 835 298 196 443 56 3 7 9 192 3,191

MIDWEST 468 344 297 96 202 105 1 6 6 98 1,623

SOUTHEAST 2,350 2,401 2,534 1,850 1,159 427 7 103 72 699 11,602

SOUTH 1,055 775 635 359 528 238 446 10 16 260 4,322

TOTAL 5,329 4,632 3,856 2,537 2,439 866 457 126 105 1,304 21,651

Banking distribution is the mainbarrier to new players

70% of the affiliations are donethrough banks

SOURCE: BRAZILIAN CENTRAL BANK , JULY 2012

7

1995

4 Visa acquirers

2009 2010

June 2009

Single Visa Acquirer

R$ 8.4 billion IPO

+

Multi-brand acquirer

CIELO | TIMELINE

8

28.6%

28.6%

42.4%

0.3%

Banco Bradesco Banco do Brasil

Free-float Treasury

655,096,224 common shares

9

CIELO | OWNERSHIP

CIELO | PLANNING MATRIX

10

Partnership with

Cybersource

UPCOMING SOON

VO

UC

HER

CR

EDIT

AN

D D

EBIT

CIELO | PORTFOLIO OF BRANDS

11

Cielo Fidelidadeis the only loyaltyprogram developedexclusively to merchants

Scheme: accrual of pointsbased on the merchant’svolume with Cielo andredemption of points for morethan 20 thousand products

Cielo Fidelidadeis the largest B2Bloyalty program inLatin America

CIELO | LOYALTY PROGRAM

12

CIELO PREMIA IS THE MOST

AND BRINGS AN ADVANCED TECHNOLOGYCHANGING THE CULTURE OF CARRYING OUTPROMOTIONS AT THE POINT S OF SALES

FLEXIBLE AND THE EASIEST TO USE

PROMOTIONAL MARKETING TOOL

IN THE MARKET

CIELO INNOVATES ONE MORE TIME

13

CIELO | ADDING VALUE TO MERCHANTS

SURPRISES

ENGAGES

SEGMENTS

MANAGES

The card owner with a differentiatedpayment experience

The card owner through multiplegifts and discounts

The promotion according to your needs (Bank/Card Brand/Card type/Purchasing option: Debit or Credit)

The promotion automaticallyreducing operational costs strongly

CIELO | PREMIA’S MAIN ADVANTAGES

14

IT GIVES THE CLIENT

ON A SPECIFIC DAY / TIMEA GIFT OR A DISCOUNT

ADVANTAGES TO

IT INCREASES THE RETURN

FREQUENCY ON A DAYWITH LOW MOVEMENT

CIELO CLIENT

15

CIELO | FIXED DAY AND TIME

*** CONGRATULATIONS!***

DISCOUNT TO YOU

10% discount

At the end of the day

On Mondays

PRIZE BALANCE

--------------------------

EXPIRING DATE: 01/31/2011

16

CIELO | FIXED DAY AND TIME

CIELO | INNOVATIVE PRODUCTS

17

Unprecedented payment solution

application in Brazil for iPhone, iPad and

iPod touch as well as Android system

and Blackberry

Devices used as POS terminal for mobile

payment with Visa, MasterCard,

American Express and Elo cards

Crediário is a unique and exclusivetechnology developed by Cielo through

which merchants can offer an

additional payment method that

allows cardholders to pay in up to 48 installments, accessing a pre-approvedcredit line from their checking accounts

through their bank cards.

Banco do Brasil and Bradesco made

available R$100 billion in credit to the

product. In the coming months others banks will join (HSBC and Caixa Ecônomica

Federal).

18

CIELO | CREDIÁRIO PRODUCT

MERCHANT• More sales volume: more than 20 million cardholders from BB and

Bradesco with pre-approved lines of credit;• Additional payment scheme without directly financing the cardholder;• Better cash flow as funds are received in D+1;• Increase in average ticket;

CARDHOLDER• Pre-approved credit line from the bank;• Attractive interest rates;• Additional to credit card’s limit;• Simulation at the point of sale;

CIELO• More sales volume;• Merchant Discount Rate similar to credit in installments.

CREDIÁRIO: more advantages to participants

19

CIELO | CREDIÁRIO PRODUCT

CIELO | MeS ACQUISITION

20

MeS Highlights• Leading e-Commerce payment services

provider with full range of merchant acquiring, e-Commerce & fraud management solutions

• Proprietary, internet-based, next-generation technology platform with best-in-class scalability, analytical capabilities, delivery speeds and cost of services

• In-house development of products and services provides superior transaction economics across the value chain

• Portable platform with upside for expansion

• Good organic revenue growth, margins and free cash flow

• Seasoned management team

Rationale

• Enhancement of Technology Platform

– Opportunity to leverage MeS’ technology to the Brazilian market and Rest of World

– MeS platform designed to achieve maximum scalability, efficiency and reliability at a low cost

• E-Commerce Improvement

– E- Commerce is fastest growth merchant category in payments

– MeS has expertise and proprietary technology tailored to serving e-commerce merchants

• Strong MeS Financial Performance

– High organic growth and attractive margins

Cielo acquired 100% of MeS for $670 million

• End-to-end payment processing functionality:

– e-Commerce

– Business-to-Business

– Mobile Commerce

– Card present and card not present merchants

– Recurring Billing

– Risk Management

WEB-BASED DELIVERY

• A white-label and fully customizable business solution:

– Transaction Processing & Reporting

– E-Commerce & Mobile

– Risk Management

– Product & Pricing

– Compliance Administration

– Sales Training and Marketing

– Business Analytics

FULL RANGE OF ACQUIRING, E-COMMERCE & MOBILE PAYMENT SERVICES

* Last twelve months ended May 31, 2012

MERCHANTS AGENT BANKS

MERCHANT e-SOLUTIONS AT A GLANCE

21

Year Founded 2000

Number of

Merchants

70,000+

Processing

Volume

$14bn+

# of Settled

Transactions

130mm+

LTM Net Revenue of

$124 million*

CIELO | ORIZON AQUISITION

Founded in 2006

Ownership interest of 40.95%;

Interconnection between healthcare and dental operators and services

providers

22

CIELO | M4U AQUISITION

Founded in 2000

innovation in the development of technological mobility platforms

largest mobile top up and mobile payment platforms in the country

developed several applications under the most diverse cell phone

standards for a wide range of clients in the financial and telecom

markets

Founders will continue to head the business

Deal

Announced August 2010

Total amount of R$ 50.1 million

R$ 25.05 million already paid and the other half will be payable

after 37 months from the closing date (as long as the contractual

targets are met)

23

CIELO | Paggo Soluções JV

Combine Oi’s mobile payment experience with Cielo’s

coverage and experience with electronic payment networks, in

order to create a joint venture to offer acquiring and transaction

capture services using mobile devices

Creation of a new company controlled by both Oi and Cielo

Announced September 2010

24

CIELO | BRASPAG AQUISITION

Deal announced May 2011

Total amount of R$ 40 million

Founded in 2005

Leader as a gateway for e-commerce in Brazil, with approximately

65% market share

Platform integrates online stores, financial institutions and

acquirers, and is responsible for capturing, routing and managing

payment transactions with cards, collection slips and online debit

25

CIELO | BRASPAG POSITION

Card

Slip

Acquirers

Wallets

Gateways

BanksDebit

Source: Company, Broker reports, Cybersource26

CIELO | ADR

27

Cielo has a sponsored Level I ADRTicker: CIOXYADR Ratio (ADR:ORD): 1:1Depositary bank: Deutsche Bank Trust Company AmericasDepositary bank contacts:

ADR broker helpline:Tel: +1 212 250 9100 (New York)Tel: +44 207 547 6500 (London)

Email: adr@db.comADR website: www.adr.db.com

Depositary bank’s local custodian: Banco Bradesco

CIELO | AT GLANCE

28

863 924

1.027 1.020 1.049 1.137 1.148

1.082 1.119 1.211

1.383 1.400 1.470

2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

Adjusted Net Operating Revenue (R$ million)

CAGR: 4.5%

CAGR: 5.0%

319,1 336,0370,1 342,0 342,0

408,2450,3

412,4 414,6480,0

565,4

469,0

572,2

0,39 0,39 0,38 0,37 0,35 0,39 0,41 0,39 0,38 0,41 0,43 0,37

0,44

-

0,05

0,10

0,15

0,20

0,25

0,30

0,35

0,40

0,45

0,50

0,55

0,60

0,65

0,70

0,75

0,80

0,85

0,90

0,95

1,00

-

100

200

300

400

500

600

700

2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

Costs + Expenses ex Subsidiaries (R$ million)

Costs+ expenses ex subsidiaries Unit Costs + Expenses ex. subsidiaries

CIELO | HISTORICAL TRACK

29

150 150 150 148 145 146

132122 117 118 119 119 116

77 7884 84 79 79 77 76 74 77 81 81 79

123 123 125 125 120 121110 105 101 103 105 105 103

0

20

40

60

80

100

120

140

160

2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

Credit Net MDR Debit Net MDR Blended MDR

1.228 1.286 1.344 1.361 1.372 1.318 1.281 1.293 1.351 1.4021.485 1.524

1.586

1.038 1.088 1.133 1.129 1.153 1.147 1.140 1.085 1.115 1.153 1.199 1.212 1.264

2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

# Installed POS Active Merchant in 60 days

Multi-brand landscape

Multi-brand landscape

Financial Indicators 2Q12 2Q11 1Q122Q12 X 2Q11

2Q12 X 1Q12

Financial Volume(R$ million)

91,720.8 74,622.6 88,081.8 22.9% 4.1%

Transaction(million)

1,282.0 1,094.2 1,269.4 17.2% 1.0%

Net Revenue *(R$ million)

1,470.1 1,119.3 1,399.5 31.3% 5.0%

Cost of Services(R$ million)

(407.7) (342.4) (399.1) 19.1% 2.1%

Operating Expenses(R$ million)

(223.8) (115.4) (125.9) 94.0% 77.7%

Unit Costs + Expenses ex subsidiaries

(0.44) (0.38) (0.37) 17.8% 20.8%

Adjusted EBITDA (R$ million)

914.1 720.2 947.8 26.9% -3.6%

Net Income(R$ million)

548.9 423.6 566.6 29.6% -3.1%

Blended Net MDR (bps) 102.6 101.2 105.3 1.5 (2.7)

Credit Net MDR (bps) 116.1 117.5 118.6 (1.4) (2.6)

Debit Net MDR (bps) 78.9 73.7 81.2 5.2 (2.3)

CIELO | FINANCIAL INDICATORS

30* Including prepayment of receivables present value adjusted

CIELO | OPERATING PERFORMANCE

31

13.4%

4.1%

79,775

91,72188,082

22.9%

74,623

91,2531,269 1,282

1,0941,167

1,302

1.0%

17.2%

4.3%

639 678 730 739 751

455 489572 531 531

2Q11 3Q11 4Q11 1Q12 2Q12

Cielo- Number of Transactions (million)

Credit Debit

46.821 50.368 56.034 56.786 58.571

27.802 29.407 35.219 31.296 33.150

2Q11 3Q11 4Q11 1Q12 2Q12

Transaction Financial Volume (R$ million)

Credit cards Debit cards

1.115

1.153

1.1991.212

1.264

2Q11 3Q11 4Q11 1Q12 2Q12

Cielo- Number of Active Merchants (1 transaction in the last 60 days)

CIELO | FAIR SHARE

32

Source : Public information, released by the companiesOthers = Redecard and Santander/GetNet

Financial Volume Breakdown (in R$)

Considering the 2 main participants , Cielo gained 0.9 p.p. quarter-on-

quarter

Considering the 3 main participants, Cielo gained 0.5 p.p. quarter-on-

quarter

57,7% 57,9% 59,5% 60,2% 61,1%

42,3% 42,1% 40,5% 39,8% 38,9%

2Q11 3Q11 4Q11 1Q12 2Q12

Cielo Redecard

56,7% 56,7% 58,0% 58,5% 59,0%

43,3% 43,3% 42,0% 41,5% 41,0%

2Q11 3Q11 4Q11 1Q12 2Q12

Cielo Others

157.946145.148159.854138.985131.439

141.899133.648152.430

149.523164.034

CIELO | REVENUE BREAKDOWN

33

6,3% 6,6% 6,4% 7,0% 6,9%11,0% 11,6% 11,7% 11,6% 12,9%

21,5% 20,4% 19,4% 21,1% 22,0%

16,6% 16,9% 18,7% 16,5% 16,2%

44,6% 44,6% 43,8% 43,8% 42,0%

2Q11 3Q11 4Q11 1Q12 2Q12

Revenue- Activity(%)

Credit cards

Debit cards

POS Rental

Prepayment of Receivables

Other revenues

CIELO | REVENUES

34

POS 2Q11 3Q11 4Q11 1Q12 2Q12

AverageRental(R$/month)

65 65 67 71 75

Installed POS (thousand) 1,351 1,402 1,484 1,524 1,586

MDR 2Q11 3Q11 4Q11 1Q12 2Q12

Net MDR Debit

74 77 81 81 79

Net MDR Credit

117 118 119 119 116

24.7%

1.4%

34.2%

9.5%

955.4927.8

941.2

823.1

754.9

550,1 596,6669,0 673,7 679,7

204,8226,5

286,4 254,1 261,4

2Q11 3Q11 4Q11 1Q12 2Q12

Commissions Revenues (million)

Credit Debit

265,1 272,3

296,1

324,9 355,8

2Q11 3Q11 4Q11 1Q12 2Q12

Equipment Rental (R$ million)

CIELO | PREPAYMENT OF RECEIVABLES

35

54.2%

11.7%

3.376,9 3.894,6

4.899,2 5.289,9

6.162,2

7,2% 7,7%

8,7%9,3%

10,5%

0,0%

1,0%

2,0%

3,0%

4,0%

5,0%

6,0%

7,0%

8,0%

9,0%

10,0%

11,0%

12,0%

13,0%

14,0%

15,0%

16,0%

17,0%

18,0%

19,0%

20,0%

21,0%

22,0%

23,0%

24,0%

25,0%

26,0%

27,0%

28,0%

29,0%

30,0%

-

1.000,0

2.000,0

3.000,0

4.000,0

5.000,0

6.000,0

7.000,0

8.000,0

9.000,0

10.000,0

2Q11 3Q11 4Q11 1Q12 2Q12

Prepayment of Receivables (R$ million)

Financial prepayment volume % Prepayment over Credit Financial Volume

58,5 56,0 55,8 55,7 57,7

2Q11 3Q11 4Q11 1Q12 2Q12

Average Term (days)

137,7

159,9

193,1 190,1

212,4

2Q11 3Q11 4Q11 1Q12 2Q12

Revenue of Prepayment of Receivables ex Adjustments (R$ million)

CIELO | FINANCIAL PERFORMANCE

36

-3.6%-3.1%

Adjusted EBITDA (R$ million) Net Income (R$ million)

29.6%26.9%

423,6457,5

504,5

566,6 548,8

38% 38%37%

41%

37%

25,00%

30,00%

35,00%

40,00%

45,00%

50,00%

55,00%

60,00%

0,0

100,0

200,0

300,0

400,0

500,0

600,0

2Q11 3Q11 4Q11 1Q12 2Q12

Net Income Net Margin

720,2 747,0

839,8

947,8

914,1

64%

62% 61%

68%

62%

45,00%

50,00%

55,00%

60,00%

65,00%

70,00%

75,00%

0,0

100,0

200,0

300,0

400,0

500,0

600,0

700,0

800,0

900,0

1.000,0

2Q11 3Q11 4Q11 1Q12 2Q12

Adjusted EBITDA Adjusted EBITDA Margin

CIELO | WHY INVEST?

Leader in a fast growing market

Strong balance sheet, high cash generation and low capex requirements

Minimum dividend payout of 50% of net profit*distributed twice a year

Focus on innovationand continuous growth

37

* After constitution of legal reserve of 20% of the Company´s capital stock

Investor Relations Contacts:

www.cielo.com.br/ri

Email: ri@cielo.com.br

Phone.: + 55 11 2596 1701