RESULTS

3Q12 November 13, 2012

Escritorios Design Campinas - SP Launched in August/2012

3Q12 Results

Introduction Elie Horn

Financial Results

José Florêncio Rodrigues

Operational Results

Raphael Horn and Antonio Guedes

Vita São Miguel São Paulo - SP Launched in August 2012

3

Cyrela Highlights

Gross Margin stood at 30.9% in 3Q12, up 0.6 p.p. from 2Q12

EBITDA Margin stood at 16.2% in 3Q12, up 0.4 p.p. from 2Q12

Cash generation of R$ 147 million in 3Q12 and R$ 184 million in 9M12 (ex-

dividends)

Pre-Sales of R$ 1,755 million in 3Q12

Increase of 33.6% compared to 2Q12

71% of new guidance low end in 9M12

Net Revenue of R$ 1.4 billion

Operationg Results

Titanium Rio de Janeiro - RJ Launched in August/2012

5

Launches Cyrela and Living

Launches totaled R$ 1,518 million in 3Q12 vs R$ 1,089 million in 2Q12

Price / sqm.: R$ 5,4 thd / m² in 3Q12, 16% up from 2Q12 (ex-lots)

Price / unit: R$ 342 thd / unit in 3Q12, down 1% from 2Q12 (ex-lots)

911

914 904

1,518

614

3Q12

1,518

604

2Q12

1,089

178

39.3%

MAP / LIVING

Partners Cyrela

Launches Launches by region 3Q12 (R$ million)

11,9%

29,5%

14,9%

South

North 2,3%

Rio de Janeiro Metropolitan area and other cities within SP state

City of SP 41,3%

MAP

LIVING

6

Pre-Sales Cyrela and Living

78% of 3Q12 pre-sales were from inventory

units

5.5 thd units sold in 3Q12, compared to 4.2 thd

in 2Q12

+33.6%

3Q12

1,755

472

1,283

2Q12

1,314

253

1,061

Pre-Sales (R$ million)

Pre-Sales by Region 3Q12

3Q12

53.0%

2Q12

51.6%

1Q12

52.3%

4Q11

50.8%

3Q11

55.6%

Sales Speed - LTM

Partners Cyrela

6,5%

21,9%

22,9%

Northeast 10,1%

South Mid West

3,3%

North

5,1%

Espírito Santo

1,3%

Minas Gerais 1,3%

Rio de Janeiro

São Paulo - Other Cities São Paulo

27,7%

7

Pre-Sales Cyrela and Living

46.7% (R$ 818.9 million) refers to sales of launches made up to December, 2011

Sales of the vintage launched in 2Q12 reached 61% in 2 quarters and sales of the vintage

launched in 1Q12 reached 77% in 3 quarters

Sales by period of launch (R$ million)

Sales Speed

514819

542602

395

333

3Q12

1,755

3Q11

1,449

9M12 Launches Previous Years Launches

3Q12 Launches

847

1,361

26%

28%

37%

40%

34%

33%

19%

12%

20%

20%

7%

8%

6%

6% 4%

3Q12

2Q12

1Q12

4Q11

3Q11

In 3 months In 6 months In 9 months In 12 months In 15 months

72%

64%

77%

61%

8

Inventory

Inventory of R$ 6.2 billion (R$ 4.8 billion %CBR)

15.4% of the inventory consists of finished units

R$ 271.9 million of 3Q12 sales were from finished units

Inventory

-0.8%

3Q12

6,194

5,239

955

2Q12

6,246

5,321

925

To be delivered Finished Units

(R$ million)

Inventory Turnover (R$ million)

1866,246

2Q12 Inventory

-0.8%

3Q12 Inventory

6,194

Price Change

Inventory Pre-Sales

-1,361

Launches Pre-Sales

-395

Launches

1,518

14,8% 15,4% FU/TI¹

¹ Finished Units / Total Inventory

9

9.2 thd delivered units in 3Q12 in 33 projects, totaling 19,2 thd delivered units in 9M12

Living: 5.0 thd delivered units in 20 projects in 3Q12 Delivered units represent a PSV of R$ 2.0 billion

Cyrela and Living Delivered Units

9M12

19.2

12.9

6.3

2011

23.8

13.2

10.6

2010

15.4

7.1

8.3

2009

7.5

2.1

5.4

MAP Living

(thd units)

Financial Highlights

Majestic - Rubi Rio de Janeiro - RJ Launched in September/2012

11

Financial Results Gross Profit and Gross Margin

448 442 446

-1% -1%

3Q11

28.6%

3Q12

30.9%

2Q12

30.3%

(R$ million)

233 231 226

2% -1%

3Q11

14.5%

3Q12

16.2%

2Q12

15.8%

EBITDA and EBITDA Margin

143 150 147

2Q12

9.7%

2% 5%

3Q11

9.4%

3Q12

10.5%

Net Profit and Net Margin

-8% -3%

3Q11

1,560

3Q12

1,432

2Q12

1,478

Net Revenues

Margin

12

Transfers, Acquittance, Trust Deed

In 3Q12, the amount transferred, acquitted or with trust deed rose by 10% (in PSV) compared

to 2Q12 and by 7% in number of units

Number of Units Amount (R$ million) (ths units)

* Correction: in 2Q12 results presentation , the volume of transfers / acquittance / trust deed of $ 804 million and 4.8 thd units was erroneously reported. These values were fixed in this slide.

2Q12

714

529

40 145

-15.3%

3Q11

+6.6%

566

899

276

57

762

3Q12

23

570

169

Acquittance Transfers Trust Deed

3Q11

4,8 +5,7% -3,7%

3,6

3Q12

1,1 0,2

3,8

4,6

0,1 0,8

2Q12

4,4

3,6

0,1 0,7

13

Liquidity and Debt

Debt (R$ billion)

Indicators Total Debt Debt without SFH

Net Debt EBITDA 12M 2.64x 0.41x

Net Debt/ Shareholders Equity. 49.5% 7.7%

Average Cost Without SFH: 109% CDI (SFH: TR + 9,97% p.y.)

Duration 2,4 years 2,3 years

Short Term 25% 12%

Long Term 75% 88%

Reduction of 4.7 p.p. compared to 2Q12

R$ 412 million without SFH

2.2

Cash and Cash Equivalents

1.7

Debt Schedule

4.3

1.1

3.2

Gross Debt

4.3

2.2

2.1

Gross Debt 4Q11

4.5

2.8

1.8

-5.3%

0.4

2.7

Net Debt

Corporate

SFH

LongTerm

ShortTerm

Corporate

SFH

14

Cash Burn/Generation*

Cash Burn/Generation

(R$ million)

Cash Generation of R$ 147 million in

3Q12, compared to a generation of R$

42 million in 2Q12 and a cash burn of

R$ 6 million in 1Q12.

Cash Generation of R$ 184 milllion in

the 9M12 period, compared to a cash

burn of R$ 136 million in the same

period of the last year.

* ex-dividends, shares buyback program and acquisiton of stakes

184

-136

147

42

9M12 9M11 3Q12 2Q12

+247,4%

15

Cyrela Brazil Realty S.A. Empreendimentos e Participações Av. Presidente Juscelino Kubitschek, 1455, 3rd floor São Paulo – SP – Brazil CEP 04543-011 Investor Relations Phone number: (55 11) 4502-3153 ri@cyrela.com.br

www.cyrela.com.br/ri

This presentation contains forward-looking information about Cyrela Brazil Realty’s business prospects, projected operating and financial results and growth prospects. These are merely projections and, as such, exclusively based on Cyrela Brazil Realty’s management’s expectations regarding the Company’s business in the future and its continued access to capital to fund its business plan. Such forward-looking statements depend heavily on the market conditions, government rules and competitive environment, as well as the performance of the real estate industry and of the Brazilian economy, among other factors, in addition to the risks described in the documents released and filed by Cyrela Brazil Realty. They are, therefore, subject to change without prior notice.

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