3Q13 Earnings Release Presentation

3Q13

Highlights

2

3Q13 HIGHLIGHTS AND SUBSEQUENT EVENTS

• 3Q13 net revenues totaled R$236.6 million, an increase of 41% over 3Q12, when net revenues came in at R$168.0 million. The significant

growth resulted from additional rental revenues of properties delivered throughout the last twelve months;

• 3Q13 adjusted EBITDA of R$218.2 million, a 47% increase over 3Q12, and adjusted EBITDA margin of 92%;

• 3Q13 net income totaled R$89.6 million, impacted by a gain on appraisal of investment properties of R$44.4 million;

• 3Q13 adjusted FFO, excluding non-cash expenses, totaled R$74.7 million, a 171% increase over 3Q12, and adjusted FFO margin of 32%;

• The Company ended 3Q13 with a 5.2x Net Debt/Adjusted EBITDA, a reduction of 29% relative to 3Q12, when the ratio was 7.3x. The cash

position totaled R$839.7 million, a 213% increase over the same period of last year;

• In August, the Company amortized a R$258 million loan which cost was CDI + 1.50% p.a.;

• Average net of inflation leasing spread (office + industrial) reached 1.7% in 3Q13, representing an increase of R$102 thousand a month in

rent revenues;

• At the end of October, financial and physical vacancy were at 9.7% and 4.9%, respectively. Excluding the recently delivered Paulista

Building and the JK Towers, currently under lease-up, stabilized financial and physical vacancy would drop to 3.2% and 2.8%, respectively;

• The Company leased-up 12,773 sqm throughout the quarter, representing a R$866 thousand increment in rent revenues on a monthly

basis;

• 3 asset sales were completed in 3Q13: Pateo Bandeirates Building was sold for R$442.0 million, representing a cap rate of 8.4%; Plaza

Centenário Building was sold for R$13.7 million, representing a cap rate of 9.6%; and Galpão (warehouse) Sorocaba was sold for R$26.4

million, representing 10.2% cap rate. BR Properties has sold its entire stake in the 3 properties;

• Lastly, the Company delivered DP Louveira 7, a high-quality fully leased major warehouse located 70km from São Paulo Capital.

3Q13

Portfolio

3Q13 Revenue Breakdown

Portfolio Breakdown

(% market value) Portfolio Breakdown

(% GLA)

3

Portfolio Market Value

18%

14%

63%

5%

Off ice AAA Off ice Industrial Retail

Services 1%

Straight-line 4% Leasing 95%

64%

30%

6%

49%

21%

25%

5%

Off ice AAA Off ice Industrial Retail

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13

11.71512.968 13.552 13.840 14.031 14.096 13.759

Asset sales in the amount of R$482.1 million

3Q13

Portfolio Recycling

4

Pateo Bandeirantes

Type: Class AAA Office

City: São Paulo / SP

Gross Leasable Area: 17,458 sqm

Sale Price: R$442.0 million

Cap Rate: 8.4%

Galpão Sorocaba

Type: Industrial

City: Sorocaba / SP

Gross Leasable Area: 14,797 sqm

Sale Price: R$26.4 million

Cap Rate: 10.2%

Plaza Centenário

Type: Class A Office

City: Curitiba / SP

Gross Leasable Area: 3,366 sqm

Sale Price: R$13.7 million

Cap Rate: 9.6%

The company completed 3 asset sales in the amount of R$482.1 million at an average cap rate of

8.5%

3Q13

3Q12 3Q13 9M12 9M13

259.234 89.555

1.044.336

230.295

(65%)

(78%)

Financial Highlights

5

Net Revenues (R$ thousand) Net Income* (R$ thousand)

* 3Q12 Net Income was largely impacted by a gain on

appraisal of investment properties of R$382.7million, after the

acquisition of One Properties.

3Q12 3Q13 9M12 9M13

168.031 236.575

430.159

700.716

41%

63%

3Q13

6

Financial Highlights

Adjusted EBITDA (R$ thousand)

88%92%

88%93%

Adjusted EBITDA Margin

3Q12 3Q13 9M12 9M13

148.297 218.151

376.546

651.488

47%

73%

EBITDA Composition 3Q13 3Q12 var % 9M13 9M12 var %

Net Income (loss) 89.555 259.234 -65% 230.295 1.044.336 -78%

(+) Deferred Taxes (18.278) 150.588 -112% 29.469 648.611 -95%

(+) Income and Social Contribution Taxes 29.125 17.293 68% 50.821 34.382 48%

(-) Minority Interest 3.086 - n/a (3.511) - n/a

(+) Depreciation 50 (620) -108% 274 210 31%

(+) Net Financial Result 139.526 103.507 35% 450.567 304.340 48%

EBITDA 243.064 530.002 -54% 757.916 2.031.879 -63%

EBITDA Margin 103% 315% -213 p.p. 108% 472% -364 p.p.

Adjusted EBITDA Composition 3Q13 3Q12 var % 9M13 9M12 var %

EBITDA 243.064 530.002 -54% 757.916 2.031.879 -63%

(-) Gain (Loss) on Appraisal of Investment Properties (44.449) (382.650) -88% (133.269) (1.667.045) -92%

(-) Gain (Loss) on Sale of Investment Properties 548 (2.156) -125% (1.702) 6.369 -127%

(+) Other Operating Income 17.452 1.218 1333% 23.662 (898) -2734%

(+) Stock options 387 735 -47% 1.435 2.795 -49%

(+) Bonus Provision 1.149 1.149 0% 3.447 3.447 0%

Adjusted EBITDA 218.151 148.297 47% 651.488 376.546 73%

Adjusted EBITDA Margin 92% 88% 4 p.p. 93% 88% 5 p.p.

3Q13

7

Financial Highlights

Adjusted FFO (R$ thousand)

Adjusted FFO Composition 3Q13 3Q12 var % 9M13 9M12 var %

Net Income (loss) 89.555 259.234 -65% 230.295 1.044.336 -78%

(+) Deferred Taxes (18.278) 150.588 -112% 29.469 648.611 -95%

(+) Income Taxes on Property Sales 15.821 - n/a 16.453 3.052 439%

(+) PIS/Cofins (Revenue Taxes) on Property Sales 16.936 172 9771% 17.125 1.239 1283%

(-) Gain (Loss) on Appraisal of Investment Properties (44.449) (382.650) -88% (133.269) (1.667.045) -92%

(-) Gain (Loss) on Sale of Investment Properties 548 (2.156) -125% (1.702) 6.369 -127%

(+) Non-cash Losses on Exchange Rate Variation 45.463 7.964 471% 118.773 98.823 20%

(-) Non-cash Gains on Exchange Rate Variation (41.590) (5.613) 641% (64.603) (54.194) 19%

(+) Non-cash Variations on Derivative Instruments 7.581 - n/a 31.651 - n/a

(-) Minority Interest 3.086 - n/a (3.511) - n/a

Adjusted FFO 74.674 27.539 171% 240.681 81.191 196%

Adjusted FFO Margin 32% 16% 15 p.p. 34% 19% 15 p.p.

16% 32%19%

34%

Adjusted FFO Margin

3Q12 3Q13 9M12 9M13

27.539

74.674 81.191

240.681 171%

196%

3Q13

Indebtedness

3Q13 Net Debt (R$ mn) 3Q13 Debt Profile

8

43%

40%

11%

1%

6% TR

CDI

IGPM

INPC

IPCA

ST Debt Obligations for

Acquisitions

LT Debt Total Debt Cash Net Debt

409

5.369

4.530

10

4.950 840

Indebtedness 3Q13 2Q13 var %

Short Term Loans and Financing 419.014 679.678 -38%

Loans and Financing 343.937 603.183 -43%

Perpetual Bond 65.371 64.949 1%

Derivative Instruments - - n/a

Payables for Acquisition of Real Estate 9.706 11.547 -16%

Long Term Loans and Financing 4.950.385 5.003.863 -1%

Loans and Financing 4.364.953 4.422.211 -1%

Perpetual Bond 585.432 581.652 1%

Gross Debt 5.369.399 5.683.541 -6%

Cash and Cash Equivalents 839.730 660.598 27%

Net Debt 4.529.669 5.022.943 -10%

Portfolio Value 13.759.034 14.096.206 -2%

Gross Debt / Portfolio Value (Loan to Value) 39% 40% -1 p.p.

Net Debt / Portfolio Value (Loan to Value) 33% 36% -3 p.p.

Adjusted EBITDA / Net Financial Expenses * 1,7x 2,0x -14%

Duration (years) 4,4 4,4 0%

Unsecured Debt / Total Debt 30% 28% 2 p.p.

* Considering Net Financial Expenses (ex. non-cash variations)

3Q13

Indebtedness

9

Debt Amortization Schedule (R$ million)

Loan to Value: Gross and Net Interest Coverage Ratio

Net Debt / Adjusted EBITDA

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

65

785

266

895

512

332 335

186

94 75 70 72 64

Principal1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13

0,6x

3,7x

4,9x

7,0x

6,0x5,5x

3,2x 3,4x

9,7x

7,8x7,3x

6,7x

5,6x 5,7x5,2x

Net Debt/EBITDA

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13

2,5x

3,5x

2,4x2,1x

1,4x1,6x

2,7x2,5x

3,0x

1,1x

1,5x 1,5x1,7x

2,0x1,7x

EBITDA / Net Financial Expenses

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13

38% 40%

24%

40%45% 43% 42% 41% 40% 39%

37% 38% 39% 40%39%

4% 23% 21%

36% 36%35%

21% 21%

30%35% 34% 34%

34% 36% 33%

LTV Gross Debt LTV Net Debt

3Q13

Interest Rates

10

Variation of BRPR Average Cost of Debt vs Variation of CDI Rate (bps)

(62)(10)

(23)

10

(46)11

71

99

3Q12 - 0 Base 4Q12 1Q13 2Q13 3Q13

Variation of BRPR Average Cost of Debt Variation of CDI Rate (bps)

BRPR Cost of Debt vs Interest Rates 3Q12 4Q12 1Q13 2Q13 3Q13

BRPR Average Cost of Debt 11,53% 10,91% 10,81% 10,57% 10,67%

Variation QoQ (bps) - (62) (10) (23) 10

CDI Rate 7,36% 6,90% 7,01% 7,72% 8,71%

Variation QoQ (bps) - (46) 11 71 99

Sensitivity Analysis 3Q13

CDI Rate -300 bps -200 bps -100 bps 8,71% 100 bps 200 bps 300 bps

BRPR Average Cost of Debt 9,43% 9,84% 10,26% 10,67% 11,09% 11,51% 11,92%

Variation on BRPR Debt (bps) -125 bps -83 bps -42 bps 0 bps 42 bps 83 bps 125 bps

Reduction Increase

Total Debt - 3Q13 5.401.044

Nominal Average Cost of Debt - 3Q13 10,67%

Annual Pro-Forma Interest Expenses 576.291

Total Debt - 3Q13 5.401.044

Nominal Average Cost of Debt - 3Q13 (Post Increase) 11,09%

Annual Pro-Forma Interest Expenses 598.967

Annual Post Tax Impact in FFO * (14.966)

* Tax Rate of 34%

Table below assumes a 100 bps increase in the CDI Rate

Impact of Interest Rates Hike in FFO

3Q13

11

Operating Highlights

Leasing Spreads

Lease Contract Expiration Schedule

(% Revenues)

Lease Contract 3 Year Market Alignment

Schedule (% Revenues)

Lease Contracts Duration

All Contracts 5.8 Years

Build-to-Suit Contracts 7.2 Years

2013 2014 2015 >2016

5%8%

12%

75%

2013 2014 2015 >2016

4% 15%

32%

11%

Leasing Spread 3Q13 3Q12 9M13 9M12

Leasing Spread - Office 8,8% 22,3% 10,2% 25,7%

Renegotiated GLA (sqm) 27.827 12.997 38.249 53.038

% Office portfolio 5% 3% 6% 11%

Gain/(Loss) of Monthly Rent (R$ thousand) 345 148 484 727

Leasing Spread - Industrial -11,5% 18,0% -7,9% 7,3%

Renegotiated GLA (sqm) 121.630 24.521 149.647 87.156

% Industrial portfolio 10% 2% 12% 8%

Gain/(Loss) of Monthly Rent (R$ thousand) (243) 77 (201) 110

Leasing Spread - Retail n/a n/a n/a n/a

Renegotiated GLA (sqm) - - - -

% Retail portfolio 0% 0% 0% 0%

Gain/(Loss) of Monthly Rent (R$ thousand) - - - -

3Q13

Operating Highlights

12

Financial Vacancy per Segment Vacancy Evolution

4Q12 1Q13 2Q13 3Q13 October

2,6%

4,7%5,5% 5,3%

4,9%4,0%

8,9%

10,8% 10,5%

9,7%

Physical

Financial

2Q13 3Q13 October

10,3% 10,0%9,2%

0,5% 0,5% 0,5%0,0% 0,0% 0,0%

Off ice

Industrial

Retail

Vacancy per Property

Property Type Financial Physical Financial Physical

Ed. Jacarandá Office 0,1% 0,1% 0,1% 0,1%

Ventura - West Tower Office 0,3% 0,1% 0,3% 0,1%

Icomap Office 0,0% 0,1% 0,0% 0,1%

RB115 Office 0,1% 0,1% 0,1% 0,1%

Manchete Office 1,2% 0,5% 1,2% 0,5%

JK Complex - Towers D&E Office 5,5% 1,7% 5,5% 1,7%

Cidade Jardim Office 0,6% 0,2% 0,6% 0,2%

Paulista Office 1,3% 0,5% 1,0% 0,4%

Santo Antonio Office 0,0% 0,0% 0,0% 0,0%

Raja Hills Office 0,1% 0,1% 0,1% 0,1%

Brasília Office 0,6% 0,4% 0,2% 0,1%

Total Office 10,0% 3,8% 9,2% 3,3%

BP Jandira Industrial 0,1% 0,2% 0,1% 0,2%

BP Jundiaí Industrial 0,1% 0,4% 0,1% 0,4%

DP Louveira #9 Industrial 0,1% 0,4% 0,1% 0,4%

BBP Barão de Mauá-Brahms Industrial 0,0% 0,1% 0,0% 0,1%

Gaia Terra Andiroba Industrial 0,1% 0,3% 0,1% 0,3%

Cond.Ind.SJC Industrial 0,0% 0,1% 0,0% 0,1%

Total Industrial 0,5% 1,6% 0,5% 1,6%

Total Portfolio 10,5% 5,3% 9,7% 4,9%

3Q13 October

3Q13

Capital Markets

13

Stock Performance – 9M13

-

10.000.000

20.000.000

30.000.000

40.000.000

50.000.000

60.000.000

70.000.000

80.000.000

-35%

-25%

-15%

-5%

5%

15%

Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Jul-13 Aug-13 Sep-13

ADTV

BR Properties

Ibovespa

Stock Performance (BRPR3) 3Q13 3Q12 var % 9M13 9M12 var %

Total Number of Shares 312.653.445 310.307.396 1% 312.653.445 310.307.396 1%

Free Float (%) 99% 99% 0% 99% 99% 0%

Stock Price (average for the period) 18,92 23,80 -20% 21,51 22,48 -4%

Stock Price (end of period) 19,70 26,45 -26% 19,70 26,45 -26%

Market Cap end of period (R$ million) 6.159 8.208 -25% 6.159 8.208 -25%

Average Daily Trading Volume (R$ million) 41,49 24,77 68% 43,60 27,79 57%

Average Daily Traded Shares 2.207.791 1.057.065 109% 2.103.783 1.237.891 70%

Average Daily negotiations 6.456 4.074 58% 6.493 3.550 83%

3Q13

IR Contacts

Pedro Daltro

CFO & Investor Relations Officer

Marcos Haertel

Investor Relations Manager

Gabriel Barcelos

Investor Relations Analyst

Phone: (55 11) 3201-1000

Email: ri@brpr.com.br

www.brpr.com.br/ri

14

Investor Relations