Together. Free your energies

C i i i t l f CPM B i d t l Capgemini acquires control of CPM Braxis and strongly accelerates its expansion in fast growing economies

2nd of September 2010

A significant step in the implementation f C i i’ G th St tof Capgemini’s Growth Strategy

Acceleration of external growth in Fast Growing Economies 1Brazil is the most mature IT services market among the BRICs and the largest in Latin America.Gartner foresees >10% growth until 2014 for the IT services market in Brazil. Acquisition will enhance our existing Latin America presence from 2,600 to 8,100 employees.

CPM Braxis is the largest Brazilian IT services CompanyEstimated revenue of 1 B$R in 2010 (450 M€), with strong FS and Telco sector presence.

2

A very strong 18% revenue CAGR and 25% bookings CAGR from 2008 to 2010.Full IT services provider : Applications (SI & OS), Infrastructure (Consulting, OS, HW / SW reseller).A very solid management team with experience in global IT companies

Capgemini acquires 55% of CPM Braxis for 517 M$R (233 M€)Acquisition settled in two parts, a capital increase and a purchase of shares.All current shareholders including Bradesco, the largest shareholder, will maintain ownership in the

3

g g pcompany and have been proportionally reduced through the transaction.

Brazil will now be the 6th largest country in the Group by headcount

Together. Free your energies2© 2010 Capgemini. All rights reserved.

Brazil will now be the 6th largest country in the Group by headcount

Capgemini’s journey towards globalization i b d th j illis based on three majors pillars

1st Step : organic growth in China, India and Brazil

2nd Step : Acceleration with acquisition

Brazil as a first priority : 11th IT Services market with

double digit growth

Fast Growing Economies

Started2 years ago

double digit growth

Shared client ownership

Full responsibility

Transversal expertise

Most competitive pricing

900020000 25300 28000

40 000

2006 2007 2008 2009 2010

OffshoreEmpowered

modelStarted

6 years ago

10 years experience

Most competitive pricingOffshore headcount

19% of 2009 revenue

8,379 headcount

25% of revenue with Fortune 100 accounts

USStarted10 years ago

Together. Free your energies Insert "Title, Author, Date"3© 2010 Capgemini. All rights reserved.

The Brazilian IT services market is th t tt ti th f t i t i

Latin America IT Service Market Growth

the most attractive among the fast growing countriesIT professional services market (2009)

12

($USD billions)

34 940

p ( )($USD billions)

8

10

16,723,525,8

28,631,6

34,9

25

30

35

10,14

6 11,0

12,213,6

15,1,

15

20

25

5,74,2

2,32 12,5 13,6 15,0 16,5 18,2

5

10

-Brazil China India Russia

-2010 2011 2012 2013 2014

Rest of Latin America BrazilSource: 2010 Gartner Latin America IT Services Market GrowthSource: Gartner Forecast: IT Services, Worldwide, 2000-2014, 2Q10 update

Together. Free your energies4© 2010 Capgemini. All rights reserved.

CPM Braxis is the Largest Brazilian IT Services company

CPM Braxis shareholders partnering with C i i t f l d l tCapgemini guarantees successful development

Post Transaction Shareholder Str ct rePre Transaction Shareholder Structure Post-Transaction Shareholder StructurePre-Transaction Shareholder Structure

Private Emplo Private

30.5%45.4%

3.3%20.8%

Equity Emplo-yees

11.9%10.5%20.3%

Private Equity

2.3%

Emplo-yees55.0%

Together. Free your energies Insert "Title, Author, Date"5© 2010 Capgemini. All rights reserved.

CPM Braxis has 60% recurring revenues and t t h l d th & b dth f i strong technology depth & breadth of services

AO ITS

Applications OutsourcingApps Assessment & PlanningApps DevelopmentApps Management ServicesTesting ServicesCode Factory

Infrastructure ServicesInfrastructure Assessment & PlanningManaged ServicesNetworking SolutionsHardware as a Service SolutionServers SolutionsCode Factory Servers SolutionsData Center ServicesContact CenterInformation Security

% 2010 Revenues

25%36% 25%

11%28%

Infrastructure IntegrationHW/SW R lli B i Enterprise Application Services

EASII

5,500 employeesHW/SW Reselling BusinessNetworking IntegrationServers & Storage SolutionsVirtualization SolutionsData Center Solutions

Enterprise Application ServicesERP, CRM, BI Projects BPM-ECMMaintenance & SupportHelp Desk

Together. Free your energies6© 2010 Capgemini. All rights reserved.

CPM Braxis has a solid local presencei B il d 200 li t bin Brazil and +200 client base

Roralma

Amapa

AmazonaPara

Maranhao

Piaui

CearaRio GtrandeDo Norte

Paraiba

PernambucoAlagoasTocantins

Acreg

SergipeBahiaTocantins

Mato Grosso

Brasilia (DF)

Goias

Rondonia

Technical Presence

Group Headquarters(Sao Paulo – 3,850, 68%)

Revenues by sector Development Centers• Alphaville, SP• Belo Horizonte, MG (275)• Brasília, DF (210)

Minas GeraisEspirito Santo

Rio de Janeiro

Santa Catarina

Parana

Mato GrossoDo Sul

Sao Paulo

Financial Services (58%)Telecom (20%)

Commercial PresenceTechnical Presence

( )• Florianópolis, SC• Rio de Janeiro, RJ (720, 13%)• Salvador, BA (338)• São Paulo, SP• Volta Redonda, RJ

Santa Catarina

Rio GrandeDo Sul

( )

Together. Free your energies7© 2010 Capgemini. All rights reserved.

Note: CPM Braxis has small numbers of employees (~1 or 2 FTEs) in 91 locations throughout Brazil to provide infrastructure field services support.

CPM Braxis performs above the marketCPM Braxis performs above the market

2008 - 2010

970

Bookings ($R millions) Revenues ($R millions)

1 655

729

970

1,394

1,655817

18%

1,009

38%

19%12%

2008 2009 2010Application Services EAS

2008 2009 2010(Estimate)

(Estimate)

Together. Free your energies

Infra Services Infra Integration

© 2010 Capgemini. All rights reserved. 8

A very talented and experienced management team

Executives Biography Executives Biography

experienced management team

Jair Ribeiro, Chairman, Executive Committee David Shpilberg, Vice Chairman, ExecutiveJair Ribeiro, Chairman, Executive CommitteeFormer CEO & Co-Founder, BraxisFormer CEO & Co-Founder, Banco PatrimonioFormer CEO, Chase Manhattan (Brazil)Former MD, JP Morgan

David Shpilberg, Vice Chairman, Executive CommitteeFormer Partner, Bain & Co. – Head of Global IT Strategy PracticeFormer Vice-Chairman, Ernst & Young – Global Head of IT ConsultingFormer CIO, Goldman Sachs Equities & Asset Mgt.

José Luiz Rossi, CEOFormer GM IBM GBS, Southwest EuropeFormer head IBM GBS, LatAmFormer head, PricewaterhouseCoopers, LatAm

Rogerio Brecha, COOFormer CEO of Ernst & Young Consulting BrazilFormer Managing Partner of Deloitte Consulting BrazilFormer VP and GM of Unisys Latin America

, q g

Founder, Result Systems

André Mesquita, CFOFormer VP Cotia Trading Argentina

Former VP and GM of Unisys Latin America

Paulo Marcelo, VP of Sales BrazilFormer Head of Industry Cluster at CPM Braxis

Former COO/CFO SertradingCofounder and former partner of Unitech TecnologiaFormer CIO of Braskem, OAS and Vega Ambiental

Veronika Falconer, Head of Human ResourcesFormer Latin America HR Lead in Accenture Over 14 years experience in Human Resources11 years of industry experience

Together. Free your energies© 2010 Capgemini. All rights reserved. 9

Bradesco remains a key shareholder & client Bradesco remains a key shareholder & client Founded in 1943 15th largest bank in the world (Forbes Global

Bradesco’s stake in CPM Braxis will change from 45.4% 15th largest bank in the world (Forbes Global

2000)One of the largest private banks in Latin AmericaMarket Capitalization of $R100bn3rd largest bank by assets in Brazil

gto 20.3% as a result of the transaction, but it will still remain the largest Brazilian shareholder.

3rd largest bank by assets in BrazilOver 85,000 employees with offices in 5,564 Brazilian municipalities

Bank Assets (bns)

Ranking by Assets (2010) IT Services Provided to Bradesco by CPM Braxis

Applications Outsourcing

Applications Development

1 Banco do Brasil (P) $R725

2 Itaú Unibanco $R635

3 Banco Bradesco $R533p

Professional Services

InfrastructureServices

4 Caixa Econômica (P) $R364

5 Santander $R342

Fonte: Valor Econômico 14/05/2010(P) St t d O d

Together. Free your energies10© 2010 Capgemini. All rights reserved.

(P) Stated Owned

CPM Braxis Financial EstimatesCPM Braxis Financial Estimates

FY 2010EEstimates ($R millions) FY 2010EEstimates ($R millions)

Revenue 970Adjusted EBITDA 8%Adjusted EBIT 6%

Revenues will grow 15% - 20% in 2011.Margins will continue to improve in the medium term.Extraordinary labor contingency provision in 2010 will be 91 M$R. N f th i ifi t l b ti i i f dNo further significant labor contingencies going forward.

Together. Free your energies11© 2010 Capgemini. All rights reserved.

Capgemini acquires its 55% stake th h it l i d h b tthrough a capital increase and shares buyout

Deal Structure

Private

Shares Buyout230 M$R

Capital Increase

Private Equity Employees

Capital Increase287 M$R

• Total investment from Capgemini is 517 M$R for 55% stake in CPM Braxis based on a firm value of 970 M$R.• The acquisition is settled in two parts, a capital increase of 287 M$R and a 230 M$R purchase of shares.• From the 3rd to 5th years shareholders have call / put options to buy / sell remaining 45%.

C i i ill i b l h t li bilit ti th ti t d l f th 45%• Capgemini will recognize a balance sheet liability representing the estimated value of the 45%.

Together. Free your energies12© 2010 Capgemini. All rights reserved.

Acquisition Completed at 1x 2010 E ti t d R2010 Estimated Revenue

FV/ Revenues 2010

LatAm IT & BPO Offshore IT ServicesIndian IT Services

3,8x

5,6x4,7x

3,1x 3,5x2 2x 2,7x4,0

6,0

8,0

LatAm IT & BPO Offshore IT Services2010E Median: 1.6x

Indian IT Services2010E Median: 4.7x 2010E Median: 2.2x

1,7x 1,5x0,7x

2,2x ,1,6x

1,2x 1,0x

0,0

2,0

FV/ EBIT 2010

19,2x

13,4x 12,0x7,6x

19,2x16,8x 15,8x

18,7x14,1x

11,6x16,1x

57.7x

16,7x

10,0

20,0

2010E Median: 12.7x 2010E Median: 16.8x 2010E Median: 16.1x

0,0CPM

BraxisWNSEXLSyntelGen-

pactCogni-

zantWiproTCSInfosysContaxSondaTivitTotvs

Source: CapitalIQ August 31, 2010 Market Figures

Transaction multiples calculated on a FV of 970 M$R

Together. Free your energies13© 2010 Capgemini. All rights reserved.

We aim to over perform the marketth h th i ithrough three main synergies

1

Capgemini will fully support its CMA accounts in Brazil through CPM Braxis. Approximately 50% of Capgemini’s CMA accounts have operations in Brazil today generating more than € 5 billion

2

CPM Braxis can immediately begin to leverage Capgemini’s alliances and partnerships in their own service offerings

Capgemini will help accelerate the sales of CPM Braxis’s Remote Infrastructure

3

pg pManagement (RIM) services in North America, which they have already begun to grow on their own.

Together. Free your energies© 2010 Capgemini. All rights reserved. 14

Capgemini in LATAM Today and TomorrowCapgemini in LATAM Today and TomorrowCapgemini México (IT services)

Since 2000, former E&Y branch230 employees

Mexico

GuatemalaSalvador

CubaRep. Dominican

Jamaica

p y

LATAM Operating Highlights

Ecuador

Colombia

Venezuela GuyanaSalvador

Costa Rica Capgemini B.S. Brazil (BPO)Since 2008, Unilever acq.598 employeesCapgemini Guatemala (BPO)

Since 2008, Transactel acq.485 employees

Provide local IT services in Brazil, Argentina and MexicoProvide offshore BPO & IT services from Guatemala, Chile, A ti d B il

Peru

Bolivia

Paraguay

BrazilArgentina and Brazil€55 million in total LATAM 2009 revenues (50/50 IT & BPO) – 73% YoY growth from 20082,608 employees across 5 countries

CPM Braxis5,500 employees.

UruguayArgentina

Chile

Capgemini Brazil (IT services)NCG partnership / acquisition121 employees

, p yin LATAM growing to 8,108 employees after the acquisition of CPM Braxis

Capgemini Argentina (IT services)NCG partnership / acquisitionSince 2008 Offshore delivery centre: as of today 650 employees.

Capgemini B.S. Chile (BPO)Since 2008, Unilever acq. 524 employees

Together. Free your energies15© 2010 Capgemini. All rights reserved.

Capgemini Expands Global FootprintCapgemini Expands Global FootprintLocal Developed Markets: 61,360 (59%)Delivery Centers: 33,376 (32%)Local Fast Growing Markets: 8,464 (8%)

TOTAL GROUP 103,200

North America: 8,088USA (Local): 6,832Canada (Local): 1,256

Europe: 56,916France (Local): 19,594Benelux (Local): 10,906UK 8 294

g , ( )

UK (Local): 8,294Iberia (Local): 4,823Eastern Europe (Delivery): 3,762Eastern Europe (Local): 643Nordic (Local): 3,792Central Europe (L l): 3 496Central Europe (Local): 3,496Italy (Local): 1,544Ireland (Local): 63

Central America: 715Guatemala (Delivery): 485Mexico (Local): 230

Asia Pacific: 29,825India (Delivery): 26,287India (Local): 994PRC (Delivery): 753PRC (Local): 723

Mexico (Local): 230

Australia (local): 625Philippines (Delivery): 171Vietnam (Delivery): 137Singapore (Local): 93Hong Kong (Local): 42

South America: 7,393CPM Braxis Brazil (Local): 5,500Capgemini Brazil (Delivery): 598Capgemini Brazil (Local): 121Argentina (Delivery) : 403A ti 247

Africa / Middle East: 262Morocco (Delivery): 256Middle East & Africa (Local): 6

Together. Free your energies16© 2010 Capgemini. All rights reserved.

Argentina (Local): 247Chile (Delivery): 524