4Q13 Earnings Release February 28, 2014

2

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.

2013 Highlights

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growth in net revenue vs 2012

growth in Gross Billings vs 2012 reaching R$ 2.0 bln

11.9%

million in net income 4% growth vs 2012

R$ 232.1

9.2 %

7.4%

growth in non-air redemptions vs 5.7% in 2012

4

369 383

446 466 472

50

100

150

200

250

300

350

400

450

500

4Q12 1Q13 2Q13 3Q13 4Q13

We reached 472 partners (coalition, accrual and redemption)

More than 12.2 million members

10.9 11.3

11.6 11.9

12.2

4Q12 1Q13 2Q13 3Q13 4Q13

Members, in mln

Network growth

NOTE: SMEs refers to small and medium sized enterprises

Adding new partners with outstanding players

5

Travel website

Toy store

Accessories

Sports e-commerce

Car dealer

Car rental

Supermarket

Decoration goods

Publisher

6

1,6 billions points accrued

Until 70% Off with partners like

Pontofrio.com and Pepper

148 millions points redeemed

Black Week Campaign 2013

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New products launch

Points Purchase

Points Renovation Released in January /2014

Best content management

Tracking

Segmented offers

Social networks integration

Wish List

Gift List

More simplicity for the implementation of new stores

8

Advantages

Improve member experience:

New e-commerce

8

9

A new relationship tool between Multiplus

and members

* Position on 12/20/2013 in Apple Store Brasil. Source : iTunes

100 THOUSAND DOWNLOADS

*

* POSITION IN

RANK TRAVEL

th

st

10

Gross Billings growth

R$ 2.0 bln in Gross Billings

492.0 492.1 500.9

536.1

479.9

4Q2 1Q13 2Q13 3Q13 4Q13

1.87 2.01

2012 2013

R$ mln R$ bln

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Net Revenue

430.9

373.4

398.6

470.9

408.0

19.4 15.9 16.4

20.5

16.8

4Q12 1Q13 2Q13 3Q13 4Q13

Net Revenue Points Redeemed

R$ 1.65 bln in Net Revenue 2013

R$ mln & bln points

1.48

1.65

65.9

69.6

2012 2013

R$ bln

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Gradual breakage decline besides non-air

redemptions increase

Breakage rate:

gradual decline as expected 12 months average, in %

21.0% 19.9% 19.6% 19.1% 18.5%

4Q12 1Q13 2Q13 3Q13 4Q13

Non-air redemptions maintains a strong level in 4Q13

0.6% 1.5%

2.6% 2.9%

4.0% 4.3%

6.3% 6.4%

5.3%

7.0%

13.9%

9.3%

Non-air redemptions, in %

Punctual promotion

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Cash generation

R$ 452.6 mln in FCF *

79.0 84.0

88.9

135.9

72.5

4Q12 1Q13 2Q13 3Q13 4Q13

RS mln

418.1

452.6

2012 2013

*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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Net income

R$ 232.3 mln in Net Income

52.9

46.8

57.4 62.2

65.8

4Q12 1Q13 2Q13 3Q13 4Q13

R$ mln

224.3

232.3

2012 2013

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