3Q13 Earnings Release November 8, 2013

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Disclaimer

This notice may contain estimates for future events. These estimates merely reflect the expectations of the Company’s management, and involve risks and uncertainties. The Company is not responsible for investment operations or decisions taken based on information contained in this communication. These estimates are subject to changes without prior notice. This material has been prepared by Multiplus S.A. (“Multiplus“ or the “Company”) includes certain forward-looking statements that are based principally on Multiplus’ current expectations and on projections of future events and financial trends that currently affect or might affect Multiplus’ business, and are not guarantees of future performance. They are based on management’s expectations that involve a number of business risks and uncertainties, any of each could cause actual financial condition and results of operations to differ materially from those set out in Multiplus’ forward-looking statements. Multiplus undertakes no obligation to publicly update or revise any forward looking statements. This material is published solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Likewise it does not give and should not be treated as giving investment advice. It has no regard to the specific investment objectives, financial situation or particular needs of any recipient. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgment.

3Q13 Highlights

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growth in non-air redemptions vs 2Q13

growth in Gross Billings vs 3Q12

13.9%

million in cash generetion in 3Q13

million members 13% growth vs 3Q12

11.9

R$ 135 More than

9.1%

4

230

369 383

446 466

0

50

100

150

200

250

300

350

400

450

50

100

150

200

250

300

350

400

450

500

3Q12 4Q12 1Q13 2Q13 3Q13

SMEs

Main partners

Total

We reached 466 partners (coalition, accrual and redemption)

More than 11.9 million members

10.5 10.9

11.3 11.6

11.9

3Q12 4Q12 1Q13 2Q13 3Q13

Members, in mln

Network growth

NOTE: SMEs refers to small and medium sized enterprises

575%

4-Sep 5-Sep 6-Sep 7-Sep 8-Sep 9-Sep 10-Sep 11-Sep 12-Sep 13-Sep 14-Sep 15-Sep

BB

Itaú

Santander

Bradesco

Outros

5

Solid relationship with banks: exclusive offers

Exclusive offer by Bank

D+0 D+4

Volume of points redeemed

Exclusive offer promoted by Bank A

A

Others

Bank A

6

Restaurant Week and Children's Day: marketing as

an experimentation tool

1,000 Multiplus points

LUNCH

1,600 Multiplus points

DINNER

7

Marketing communication presents some

redemption offers to members

8

A new relationship tool between Multiplus

and members

9

Solid Gross Billings growth

378.4

430.9

373.4 398.6

470.9

16.7

19.4

15.9 16.4

20.5

3Q12 4Q12 1Q13 2Q13 3Q13

Net Revenue Points Redeemed

R$ 470.9 mln in Net Revenue R$ 536.1 mln in Gross Billings

491.4 492.0 492.1 500.9 536.1

3Q12 4Q12 1Q13 2Q13 3Q13

R$ mln & bln points R$ mln

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Gradual breakage decline besides non-air

redemptions increase

Breakage rate:

gradual decline as expected 12 months average, in %

22.0% 21.0%

19.9% 19.6% 19.1%

3Q12 4Q12 1Q13 2Q13 3Q13

Non-air redemptions reached

a record level in 3Q13

0.6% 1.5%

2.6% 2.9%

4.0% 4.3%

6.3% 6.4%

5.3%

7.0%

13.9%

1Q11 3Q11 1Q12 3Q12 1Q13 3Q13

Non-air redemptions, in %

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Delivering Results

R$ 135.9 mln in FCF* R$ 62.2 mln in Net Income

124.5

79.0 84.0

88.9

135.9

3Q12 4Q12 1Q13 2Q13 3Q13

66.6

52.9

46.8

57.4 62.2

3Q12 4Q12 1Q13 2Q13 3Q13

RS mln RS mln

*Excluding Dividends, Interest on Capital and variations of Prepaid Expenses and Capital (4Q12 and 1Q13 are adjusted with R$ 71.3 of anticipated settlement in Accounts Payable)

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Maximizing Shareholders Return

Dividends Pre-purchase of air tickets

Multiplus’ board of directors approved

R$ 500 million fixed limit for pre-purchase of air tickets until 2013

112.3

861.3

222.4 158,0

2010 2011 2012 2013 YTD

R$ 282.2 million

Balance in Sep/2013

*2011 includes a R$ 600 million capital reduction

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High corporate governance standards

If rejected

The proposal needs unanimity Board approval

Special Committee

Independent members

Related Parties Subjects

If approved

The proposal needs majority Board approval

Novo Mercado (New Market) 1

100% tag along rights 2

Ordinary share only 3

30% of independent board members 4

Special Committee 5 Special Committee: Audit, Finance, Governance and Related Parties Committee

Thank you! Contact IR Team +55 11 5105-1847 invest@pontosmultiplus.com.br www.pontosmultiplus.com.br/ir

Ronald Domingues Ivan Bonfanti Filipe Scalco

Fernanda Camiña