Investor UpdateJuly 6, 2011

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Important Cautions Regarding Forward Looking Statements

Certain statements in this presentation and responses to various questions may contain forward-looking statements including our cross-platform marketing push, planned Latin American localization for Wonderful City, opportunities from our unique positioning, planned launch of original title, and smartphone application opportunity. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects” and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include unanticipated technical problems which delay or impede other localized versions of Wonderful City, internal decisions made by social media platforms hosting our games, acceptance of the games by users, and failure to develop an effective mobile technology platform adaptable in different countries, changes in the public’s approach to social networking needs, and competition..

Further information on the Company’s risk factors is contained in its filings with the SEC, including the Form 10-K for the year ended December 31, 2010. Any forward-looking statement made by the Company in this presentation speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.

The contents of this presentation are copyright Quepasa Corporation 2010 & 2011. All rights reserved.

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Agenda

Cidade Maravilhosa: Early Results & Next Steps

Quepasa Games: 2011 Timeline

Quepasa.com User Acquisition: Strategy & Opportunities

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Cidade MaravilhosaSummary Results

Cidade Maravilhosa - Rio is now live on Facebook, Orkut & Quepasa.com

2 MM+ Installs, 73% growth MOM

Over 780,000 DAUs, or Daily Active Users

Over 2.9MM MAUs, or Monthly Active Users

DAU/MAU ratio of 27% (DAU/MAU) exceeds 15-20% target for “sticky” game with good monetization potential1

1Source: http://www.insidesocialgames.com/2009/10/27/the-sticky-factor-creating-a-benchmark-for-social-gaming-success/)

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Facebook Over 230K installs in just over 2 weeks 700% WOW growth in DAUs, and 800% WOW

growth in MAUs as of June 30

Orkut Over 1.7MM installs in just over 6 weeks Strong engagement metrics including 670,000+

DAUs, 2.4MM+ MAUs, DAU/MAU of 27.45%.

Quepasa.com Highest ARPU Longest average session length, with average

session of over 22 minutes

Cidade MaravilhosaResults By Platform, Growth & Engagement

Cidade Maravilhosa has consistently ranked among the top 40 “Gainers” applications on Facebook according to appdata.com

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Facebook ARPPU in excess of US $22 following FB Credits

integration on July 1st

Compare to: Global payments leader, Playspan, reports US ARPPU of $22.76, surpassed only by Australia, $24.381

Orkut ARPPU of R$15.85 (US$9.90) from 6/4-7/4,

increasing to R$18.7 (U$ 11.30) for 6/25-7/4 Compare to: Average ARPPU of R$16 for Orkut

games during 20102

Quepasa.com ARPPU of US$27 during month of June

Cidade MaravilhosaMonetization Trends

1 Source:Virtual Goods News 6 May 20102 Source: PagSeguro

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Cidade MaravilhosaNext Steps

Cross-Platform Marketing Push Content updates In-game promotions DSM Advertising Investment (per install)

Latin American ExpansionNew versions of game planned for: Mexico City, Mexico (end Q3) Cartagena, Colombia (Q4)

Quepasa Games2011 Timeline

2011 Timeline

April 2011, Quepasa Games launches

Wonderful City in Beta Version on Quepasa.com

March 2011, Acquired XtFt Games S/S XtFt Games, owner of TechFront Studios, based in Curitiba, Brazil.

Subsequently renamed Quepasa Games.

May 2011, Launched Wonderful City – Rio on

Orkut. May 31, 2011, Quepasa Games Announces 1.3mm Installs of Wonderful City – Rio across all platforms, with 600,000 Daily Active Users averaging over 40

minutes of game play per day.

June 2011, Launched Wonderful City – Rio on

Facebook.

2011, Wonderful City Franchise Expansion to include Mexican and Colombian versions.

2011, Quepasa Games to launch an original title based on Amazonian Sustainability across various

social network platforms.2011, Quepasa Games to launch a third title across

various social network platforms, depending on success of first two titles.

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Quepasa.com User AcquisitionUpdated Strategy

Goal: Align Quepasa.com user acquisition with high-growth social gaming opportunity evidenced by success of Cidade Maravilhosa

Develop profitable new acquisition channels tailored to acquisition of quality users

Leverage Quepasa’s cross-platform social media products for low-cost acquisition

Put Quepasa at the fore of the convergence between social and mobile

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Quepasa.com User AcquisitionUpdated Strategy

Virtual Currency Promotions Leverage currency to drive acquisition of new users (e.g.

incentivized referrals) Drive quality users while simultaneously seeding virtual economy

Games & Contests Leverage cross-platform social media products (Games, Contests)

to cross-promote Quepasa.com Drive new users with prequalified interest in offerings

Mobile Draw on huge growth in Latin American mobile market Deploy mobile applications tailored to most relevant, high-growth

mobile platforms

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Mobile Trends Gaming and social networking dominate mobile usage1

Mobile social gaming market expected to reach $3B by 2012

Smartphones, becoming more powerful than ever, are expected to comprise 70% of all phones sold in 2015. 2

LatAm Growth Overall growth of 28% in 2010, compared to a global

average of 17.9% 145% growth in 2010 smartphone market alone3

Quepasa.com User AcquisitionMobile Opportunity

1 Source: Flurry Analytics2 Source: “The Handful of Key Stats you Need to know about Social Mobile Games, Socialtimes.com3 Source: Latin Daily Financial News 24 April 2011

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Quepasa.com User AcquisitionCase Study & Next Steps

Mobile Case Study: Mocospace Largest mobile social network in U.S. with 20 million

members+ as of June 2011 (nearly 1/3 of smartphone userbase as defined by Comscore)1

Social discovery as main draw, including games, chat, photo sharing and finding new friends2

Members collectively play games for 1 MM+ hours per day1, ARPU of over $12

Quepasa Mobile: Next Steps Platform-agnostic mobile-friendly (or “m.”) site to boost

retention of feature phone-dominant existing userbase Smartphone apps around flirting, gaming content to

drive acquisition, build on existing Papacito APIs

1 Source: http://www.bizreport.com/2011/06/20m-mobile-gamers-and-climbing-says-mocospace.html2 Source: http://www.pocketgamer.biz/r/PG.Biz/MocoSpace/feature.asp?c=30989

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Summary

Very positive early results for Cidade Maravilhosa Clear gaming opportunity in Latin America that Quepasa is well-

positioned to take advantage of Gaming success has driven revised user acquisition strategy for

Quepasa.com, with emphasis on quality, positive ROI users