1. Institutional Presentation
August 2010

2. Disclaimer
This presentation does not constitute an offer, or invitation, or solicitation of an offer to subscribe for or purchase
any securities neither does this presentation nor anything contained herein form the basis to any contract or
commitment whatsoever.
The material that follows contains general business information about LPS Brasil – Consultoria de Imóveis S.A
(“Lopes”) as of June 30th, 2010. It is not intended to be relied upon as advice to potential investors. The
information does not purport to be complete and is in summary form. No reliance should be placed on the
accuracy, fairness, or completeness of the information presented herein and no representation or warranty,
express or implied, is made concerning the accuracy, fairness, or completeness of the information presented
herein.
This presentation contains statements that are forward-looking and are only predictions, not guarantees of
future performance. Investors are warned that these forward-looking statements are and will be subject to
many risks, uncertainties, and factors related to the operations and business environments of Lopes and its
subsidiaries such as competitive pressures, the performance of the Brazilian economy and the industry, changes
on market conditions, among other factors disclosed in Lopes filed disclosure documents. Such risks may cause
the actual results of the companies to be materially different from any future results expressed or implied in such
forward-looking statements.
Lopes believes that based on information currently available to Lopes management, the expectations and
assumptions reflected in the forward-looking statements are reasonable. Lastly, Lopes expressly refuses any duty
to update any of the forward-looking statements contained herein.
2

3. Investment Highlights
3

4. Brokerage Market Has No Other Company
With The History and Track Record of Lopes
 Launch and sell of 14
office buildings at Av.
Paulista
 Mr. Francisco Lopes
 Launch and sell of 11  Introduction of the
initiates its activities
office buildings at the Faria concept of condominium
intermediating
Lima region clubs
properties
 Creation of the launching  First “Top Imobiliário”
system with sales stands award, in 1993 – Largest
and marketing materials, Brokerage Company
attracting customers
 First TV 00 s
specially during weekends
advertisement for
a real estate
development  Becomes reference in real
estate launchings and 90 s
presents its new logo
80 s
70 s
60 s
50 s
 Lopes becomes an important player at
40 s the segment of gated communities
1935  Identification of Marginal  Triples in size in a decade,
Pinheiros as an attractive strengthening its leadership
area and launch one of
 Start of long term  Wins its 16th consecutive
the first buildings in the
partnership with “Top Imobiliário”
region
 The company‟s first Gomes de Almeida  Lopes‟ IPO
 Start up of sales of hotel
logo Fernandez (Gafisa)  Lopes starts its geographic expansion
condominium (Flats)
 Launch one of the process
 Partner of Grupo Espírito
first buildings under  Lopes‟ website become leader on real
Santo in selling one of the
the condominium state market
largest launching in Lisboa:
concept  Joint Venture with Itaú Bank in order to
Parque dos Príncipes
create CrediPronto, our mortgage
company.
4

5. Investment Highlights
Experienced Simple and Focused
Management Team Value Added
and Outstanding Business Model
Track Record
Main Distribution
Unmatched Channel in the
Scale and Reach Industry with a
National Footprint
Low Risk Business
Already scaled with a Diversified
down to face new Client Base : Cash
market conditions Generator
Company
5

6. Lopes‟ Operation
Pronto operates
Habitcasa in the secondary
Lopes operates
focuses on low market, unique Joint Venture with
in mid-high and
model of Itaú Bank in
high income income, selling franchising and providing
segments of the properties up to flagship mortgages
primary market
R$180 thousand conversion
6

7. Simple and Focused Business Model…
Lopes is exclusively focused on providing value-added real estate brokerage services to its client-developers,
with a permanent concern of avoiding conflicts of interest
Client-Developers Client-Buyers
How do we do
business?
 Formal relationship through  111,330 effective buyers1
agreements
 1,280,935 prospects
 Over 300 Clients included in our data base
Total Price
Revenue Recognition
$ 100 per Unit
How do we make money?2, 3
$ 2.22
$ 3.00
$ 0.16
$ 10 $ 0.62
Developer
$ 5.00
Down- Gross $ 1.15
payment Commission $ 2.00
$ 0.85
Agents +
Managers
1 Data from the period between Jan/2001 and Sep/09
2 Figures only for example, not related to financials Net Commission Premium
3 Considering Sao Paulo market Contract Advisory Fee
7

8. Lopes Net Commission
3.23% 3.15% 3.06%
2.60% 2.54% 2.48%
Net Commission Brazil
2005 2006 2007 2008 2009 2Q10
SP GVS / Consolidated GVS 100% 95% 80% 50% 48% 49%
3.23% 3.16% 3.19% 3.10%
Net Commission São Paulo 2.85% 2.79%
2005 2006 2007 2008 2009 2Q10
8

9. With a Key Role in the Real Estate Value-Chain
Lopes‟ business is clearly fundamental to the profitability and returns of its clients…
Real Estate Development
Brazilian Market Dynamics
Working
Capital
Is Fundamental Speed of Sales
Pre Sales Concentrated in
the
Speed of Sales is Launch Period
the Key
for Profitability
Reliance on Sales Force Scale and Efficiency
More than 9,000 brokers
…and its scale and reach – nearly impossible to replicate – enhance this importance
9

10. Value-Added Services Across the Development Cycle
Lopes is focused on providing its clients with a full range of consulting services, from land procurement
advisory to product formatting, development and sale
Formats
Coordinates Coordinates
Individual
Determines Product Develops Optimizes
Masters Product Product
Sales Strategy
the Site‟s Meeting Marketing Media
Market Launching Created to
Launching
Vocation Buyers‟ Campaign Negotiations
Research Events Each Product
“Wants and Events
Needs”
10

11. Lopes: The virtuous circle that makes us the Best Brokerage
Company in the Real Estate Market
Sales Products
Market Inteligence Brokers
Clients
11

12. Institucional Website
Evolution of visits to Lopes‟ Website
4,248,592 4,348,621
3,533,156 3,523,517
2,578,826
2,432,703
2,195,698
2,018,064
1,308,093
594,442
1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10
The most visited Increased
Strong investment Higher sales
website in the real generation of
in online media conversion
estate market Leads
Source: Google Analytics,
12

13. Competitive Advantage
“Lopes” culture in all business
units of different states
One single brand, National Integration
recognized by the market of Systems
Identity that stands Lopes
out from the competitors
Competitive Advantage: A single, integrated solid Company
13

14. Sales Expertise in all Market Segments
L Itaim– Apr/10 CASE
HIGH
Location Itaim Bibi/ SP  90% sold.
 Developer: Trisul.
Sales 40 un. – R$ 9,000/m²
Usable Area 158 / 253m²
MEDIUM-HIGH
Upper Side Batel– Mai / 10 CASE
Location Batel/ PR  96% sold.
 Developer: Ciromac.
Sales 172 un. – R$ 5,000/m²
Usable Area 26 / 116m2
MEDIUM Passione Freguesia– Jun / 10 CASE
Location Freguesia do O./ SP  100% sold.
 Developer: Open (Even)
Sales 279 un. – R$ 3,650/m²
Usable Area 65/ 70m²
Máximo Guraulhos II – Apr / 10 CASE
ECONOMIC
Location Vila Augusta/ Guarulhos  100% sold.
 Developer: Cury
Sales 420 un. – R$ 2,580/m²
Usable Area 45 / 54m2
Helbor Offices II – Jun / 10 CASE
BUSINESS UNITS
Location Santo Amaro/ SP  100% sold.
Sales 279 un. – R$ 6.800/m²
 Developer: Helbor.
Usable Area 33 / 47 m²
Notes: Managerial Reports.
Absorption calculated over available units 14

15. Geographic Expansion
15

16. Lopes is Growing Nationwide
SOUTHEAST REGION
São Paulo – Beginning of operations in 1935. Acquisition of 60% of
Capucci &Bauer, in October 2007, for R$9 million (7.1x P/E 2008) and an
earn-out payment.
Rio de Janeiro – Entry by greenfield operation, with beginning of
operations in July 2006, with LCI-RJ. Lopes acquires permanently an
CE additional 10% stake of Patrimóvel, in July 2010, amounting to a total 20%
RN share.
PE Espírito Santo – Acquisition of 60% of Actual, in July 2007, for R$5.76 million
(7.0x P/E 2008) and an earn-out payment.
Minas Gerais – Entry by greenfield operation with beginning of operations
BA in February 2008.
DF SOUTHERN REGION
GO States of Rio Grande do Sul, Santa Catarina and Paraná – Acquisition of
75% of Dirani, in May 2007, for R$15.1 million (7.5x P/E 2008) and two ear-
MG out payments. In July 2008, Lopes acquired the 25% left by the call/put
ES
mechanism.
SP RJ MIDDLE WEST REGION
PR Federal District – Acquisition of 51% of Royal, in November 2007, for R$12
million (9.0x P/E 2008) and an earn-out payment.
SC
Goiás - Greenfield operation with beginning of operations in August
RS 2008.
NORTHEAST REGION
Bahia - Greenfield operation with beginning of operations in October
2007.
Pernambuco – Acquisition of 60% of Sérgio Miranda, in August 2007, for
R$ 3 million (10.0x P/E 2008) and an earn-out payment. In September
Lopes tracks developers‟ regional movements, consolidates its 2009, Lopes acquired the 40% left by the call/put mechanism.
position as the largest consulting and sales player Ceará e Rio Grande do Norte – Acquisition of 60% of Immobilis, in January
2008, for R$2.4 million (10.0x P/E 2008) and an earn-out payment.
16

17. Lopes‟ Market Mix
13% 10% 11% 13% Other*
16%
6% 6%
6% 6% Northeast
6%
7% 12% 10% 11% South
9%
16% 14% 14% Brasília
17%
21% 5%
5% 6% Rio de Janeiro
5%
6%
53% 52% 54%
49%
São Paulo
42%
2Q09 3Q09 4Q09 1Q10 2Q10
*Other: Ceará, Estpírito Santo, Minas Gerais, Goiás and the city of Campinas 17

18. Lopes in the Low Income Segment
18

19. HABITCASA: Focus on Low Income Segment
Focus on Low Income Segment
Units up to R$ 180 thousand
The Habitcasa brand is applied in all Lopes‟ markets
19

20. Habitcasa Stands Up as the Biggest Player in sales in the Low Income Segment
In 2009, Habitcasa became Caixa‟s
correspondent
Only Real State
Sales in the 2Q10 Brokerage Company
increased 50% when specialized on the low
compared to the 2Q09 income segment, not
only in sales, but also
in advisory
1,561 units sold
Average Price in the 2T10
in the 2Q10
of R$146 thousand
65% Sales Speed
In the 2Q10
20

21. Sales by Income Segment Primary and Secondary Market
Contracted Sales
Total Contracted Sales = R$3,410 million
2Q10
2Q09
13%
15% 22%
25%
27% 39%
22% 38%
Units Sold
Total units sold = 12,369
2Q10
2Q09
7% 5%
13% 17% 34%
37%
43% 44%
21

22. Increase in the Potential Demand
Unit Value Mortgage
R$120,000 R$96,000
30% of income 80% of the total value
commitment financed
In Minimum Wages Monthly Payment (R$)
Maturity in years Maturity in years
10 15 20 25 30 10 15 20 25 30
12% 13 11 10 10 9 12% 1,377 1,152 1,057 1,011 987
11% 13 10 9 9 9 11% 1,322 1,091 991 941 914
10% 12 10 9 8 8 10% 1,269 1,032 926 872 842
Interest Tax (%)
Interest Tax (%)
9% 12 9 8 8 7 9% 1,216 974 864 806 772
8% 11 9 8 7 7 8% 1,165 917 803 741 704
7% 11 8 7 6 6 7% 1,115 863 744 679 639
6% 10 8 7 6 6 6% 1,066 810 688 619 576
5% 10 7 6 5 5 5% 1,018 759 634 561 515
22

23. Better Economic Situation of the Low Income Segment…
% of the population with monthly income between Monthly Income (Millions of
R$1,064 and R$4,561 (program‟s target population) 2007 2008
Families)
Untill R$1,000 31.7 53% 29.1 31%
52.0
From R$1,000 to R$2,000 15.5 26% 27.6 29%
47.0
From R$2,000 to R$4,000 8.4 14% 21.8 23%
38.0 40.0
36.5 37.4 From R$4,000 to R$8,000 3.3 5% 11 12%
32.5
From R$8,000 to R$16,000 1.1 2% 4.3 5%
From R$16,000 to R$32,000 0.3 0% 1.3 1%
More than R$32,000 0 0% 0.3 0%
1992 1995 1998 2001 2004 2007 2008 TOTAL 60.3 100% 95.4 100%
Source: FGV Source: IBGE, FGV, Ernst & Young
“Minha Casa, Minha Vida” Funds “Minha Casa, Minha Vida 2” Funds
1
9.5
7.5
34 71.7
25.5 62.2
Government FGTS BNDES TOTAL Government FGTS TOTAL
Budget Budget
Source: “Minha Casa, Minha Vida” Program 23

24. ... and also Better Supply of Mortgages
New % of new
Housing Total of New houses
houses houses
(„000) houses financed
formed financed
2002 48,035 1,530 83 5%
2003 49,710 1,675 104 6%
2004 51,752 2,042 112 5%
2005 53,114 1,362 101 7%
2006 56,610 1,496 151 10%
2007 56,343 1,733 166 10%
Source: IBGE, BC
Housing Credit
(R$ billions)
10.2
6.9
7 25.2
5.5 18.4
3.8 3.9 9.3
2.2 3 4.9
2003 2004 2005 2006 2007 Savings untill
Oct 2008 FGTS
untill Nov 2008
Financed with FGTS' Funds Financed with Savings' Funds
Source: ABECIP, Central Bank of Brazil, CEF e FGV 24

25. Minha Casa Minha Vida
Brazilian Government will dispose of R$34 bi.
In the State of São Paulo 183,995 units will be built.
41% have a monthly family income
São Paulo‟s families 10% has purchase intention for
between 3 and 10 minimum wages,
the next 12 months
with “Minha Casa, Minha Vida” this
families will become potential
buyers.
It is estimated that there is a 140
thousand units demand in the city of
(3.4 million of families) (1.4 million of families)
São Paulo inside the
“Minha Casa, Minha Vida” program .
Source: Lopes‟ Market Intelligence
Premise: with the federal government subsidy, the decrease of interest rates and more extended mortgages terms, the minimum family income to acquire
a R$100 thousand house became 3 minimum wages, not 6 minimum wages as before. 25

26. Minha Casa Minha Vida
Steps Untill 3 minimum wages Between 3 and 10 minimum wages
R$10 billions
Government Contribution R$16 billion
(2.5 bi Government and 7.5 bi FGTS)
Subsidy Full Value -
Insurance Exception Reduction
Reduction
Registration Costs Exception (90% form 3 to 5 minimum wages
80% from 5 to 10 minimum wages)
Units per Income Units Distribution In the Southeast Region
5%
0 to 3 minimum wages 20%
40% 24% Espírito Santo
3 to 4 minimum wages
10% Minas Gerais
50%
4 to 5 minimum wages Rio de Janeiro
10%
21% São Paulo
5 to 6 minimum wages
20%
6 to 10 minimum wages
26

27. Minha Casa Minha Vida 2
Steps Untill 3 minimum wages Between 3 and 10 minimum wages
R$25 billions
Government Contribution R$37 billion
(15.5 bi Government and 9.5 bi FGTS)
Subsidy Full Value -
Insurance Exception Reduction
Reduction
Registration Costs Exception (90% form 3 to 5 minimum wages
80% from 5 to 10 minimum wages)
Units per Income
10%
0 to 3 minimum wages
30%
3 to 6 minimum wages 60%
6 to 10 minimum wages
27

28. Lopes in the Secondary Market
28

29. Joint Venture Lopes Itaú
Lopes and Itaú created the first and biggest pure mortgage company of Brazil.
 Direct and exclusive access to its  Service excellence
customer database  Competitive financing terms and
 Seamlessly integrated operation with conditions
Lopes‟ sales process, including an  Speed and quality of processing
incentive compensation plan  Experienced credit analysis
 Lopes media exposure  Successful exposure to the lending
business and in joint ventures
Leadership position
Management
in their respective High Value Brands
Excellence
markets
Strengthening of mortgage origination and other related services.
29

30. CrediPronto!
Innovative Real Estate Financing Process
Assessment of Issuance of the Release of
Credit Analysis Legal Analysis
the Property Contract Resources
Until 3 2 3 5
24 hours working working working working
days days days days
Efficiency in Release of Credit
The deadlines mentioned are linked to the complete delivery of the documentation and they can change in case of any restrictions. 30

31. CrediPronto!
The only real mortgage company of the market and
possibly with no conditions of being copied.
Focus on the Secondary Market
Opportunity to work in the Primary Market
with small Developers
Competitive Advantages
 Efficiency on releasing mortgages;
 Agility and perception of a non-financial institution; and
 Lower process costs.
31

32. CrediPronto!
Financed Volume
(R$ MM)
232.9
146.0 375%
436%
49.0
27.2
2Q09 2Q10 1H09 1H10
CrediPronto! financed in the 2Q10 R$146.0 million, which accounted for R$232.9 million in mortgages
for 2010 .
32

33. CrediPronto!
Monthly Progress of the Mortgage Portfolio
(R$ MM)
436.8
26% 384.9
330.9
290.9
247.4
216.7
jan/10 feb/10 mar/10 apr/10 may/10 jun/10
33

34. Guidance CrediPronto!
Mortgage Guidance 2010
43%
500
350
Previous Guidance Revised Guidance
The Company takes this opportunity to announce the new financing guidance for Credipronto! for 2010
which is R$500 million.

35. Pronto!
Pronto has 200 stores in
12 states
30 owned stores
+
170 credentialed stores
35

36. Acquisitions Secondary Market
Acquisition date July 8th, 2010 July 23rd, 2010 August 17th, 2010
Share 51% 51% 51%
Vila Nova Conceição, São
Location São Paulo -SP
Paulo -SP Niterói, Rio de Janeiro-RJ
R$7,1 million (R$1,8 million + R$ 2,6 million (R$900 R$11.7 million (R$4.7 million
R$0,3 million of investiments thousand + R$1,7 million of + R$7.0 million of earn out).
Payment
+ R$5,2 million of earn out) earn out)
36

37. Pronto! One Stop Shop Concept
One Stop Shop
Purchasing/Selling
your property
+
Financing
37

38. Synergies Between Credipronto! and Pronto! – Competitive Advantage
Easy Credit
Distribution
Access
Channel
(Financing)
Pronto! and CrediPronto! acting together create a competitive advantage that is hard to replicate.

39. Brazilian Real Estate Market
39

40. Social Economic Scenario and Housing Shortage
Age Pyramid in Brazil Segments by Income in Brazil
Income
A/B 16% > US$ 2,509
more than 70
60 to 64 Men Women
50 to 54 52%
Income between
C US$ 582 and US$ 2,509
40 to 44
30 to 34
20 to 24 14% Income between
D US$ 419 and US$ 582
10 to 14
Income
0 to 4 E 19%
< US$ 419
-6% -4% -2% 0% 2% 4% 6%
47 million homes
Source: IBGE
Source: FGV
Quantitative Housing Shortage
Qualitative Housing Shortage
(millions of homes)
7.9
6.7
6.3
5.8 1,8x Brazil
5.4
4,0x Mexico
9-10x G-7
Source: Credit Suisse
1991 2000 2006 2007 2008
* Qualitative Housing Shortage is the number of times that a family moves to different houses in life
Source: Fundação João Pinheiro e Ministério das Cidades
40

41. Mortgage Market
Mortgage Market as a % of GDP
86%
66%
50%
40%
33% 35%
30%
22%
15% 15% 13%
10% 11% 9%
6% 5% 5% 3% 5% 5%
3% 3% 1% 1% 2% 2% 2%
0% 0%
Source: Goldman Sachs – Base 2007-2008
41

42. Launches Metropolitan Region of São Paulo – Historic data
GVS¹ Launched (R$ bn) - SP
23.1
21.7
16.8 16.5
14.3 15.2
8.3
1996 1997 2006 2007 2008 2009 6M10
¹ Launched values adjusted by the INCC until February/10
Nominal GVS launched in 2008 was the same
amount as 2007: R$ 20 bn.
Number of Launches - SP
Units Launched („000) - SP
70 68 70
574 59
538 548 548
509 509 494
467 458 478
442
377 40 38
35 35 37 36
341 33 34
31 29
231
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 6M10 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 6M10
Source: Lopes‟ Market Intelligence
42

43. Sales Speed Metropolitan Region of São Paulo
Units Launched and Sold
SP Capital
Average (Units Sold/Launched) = 1.50
Average (Units Sold/Launched) = 0.80
6,131
5,663
4,027
3,613
2,173
1,113
1,949
382
may/08 jul/08 sep/08 nov/08 jan/09 mar/09 may/09 jul/09 sep/09 nov/09 jan/10 mar/10 may/10
Units Sold
Year Units Launched Units Sold
Units Launched
2008 34,500 32,800
2009 30,100 35,800
Source: Secovi –SP and Lopes‟ Market Intelligence.
43

44. SPMR Real Estate Market Overview – Prices
Evolution of Average Launches‟ Prices in SP
R$/m2
R$/m2 4003
3475
3211
3064 2979
2861 2895
2473
Nominal 2230
1930
1741
1546 1619
1357 1370
1H10
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
4205 4163 4139
3944 3995 3956 3891 3994 4007 3869 3875
3716 3577 3524 3567
INCC Adjusted
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
1H10
Source: EMBRAESP
44

45. The Secondary Market
Difference (in %) between the average price
Real estate market by segment
per m² in new development vs. used properties
(Total in R$ billion, % of total potential sales value)
118 100%
Primary 37%
19
13 11
9
63% USA Spain South Africa Mexico
Secondary
In the city of São Paulo, the difference is as high as 30% ~ 50%
Brazil
Source: ITBI, Gafisa prospectus, Cushman Wakefield report, team analysis

46. Factors that Sustain the Growth in the Real State Market
Financing Availability Positive Economic Trend
Smaller Taxes, longer terms; Brazil is Latin America‟s biggest economy
SFH and FGTS limit increase; and presents economic, political and
social stability;
Higher participation of the private Positive economic fundaments:
sector; and 1. Country-risk in minimum historical level
In Brazil, the mortgages represent 2. Inflation under control
10-20% of the total credit, smaller than in 3. Extern debt at lower levels
other countries (70%).
4. Decreasing of the unemployment tax
Housing Deficit Real State Sector Development
Consumer‟s buying intention increase;
Estimated deficit of 7.5MM de houses; Technology achieved in both sides;
Bad quality housing for middle and low Products with more sophisticated
attributes for the middle income
income segments. segment;
Technology in the low income segment
construction; and
Development of new
Brazilian markets.
46

47. Lopes‟ Confidence Index
47

48. Lopes‟ Confidence Index (LCI) - July/10
Lopes is the first company to create a Real Estate Consumer Confidence Index.
Lopes‟ Confidence Index (LCI)
July/10
157.8
153.4
147.4 145.3 142.8 145.9
141.3 142.1 142.3
133.8 137.5 137.6 138.7 136.6 138.0 133.2 143,3
131.6 134.4 131.7 131.3
124.7 125.3 127.0 128.2 127.4 127.5 130.0 128.7
124.1 131,0
116.3 119.0 120.3 115.5 117.5 117.6 114.4 116.0 120.4 122.0
118.0 111.2 118.5 124.1
105.7 109.4 105.3 118,8
100.8 100.5 99.3
100.0 98.7
87.2
86.8
82.0
jan/09 feb/09 mar/09 apr/09 may/09 jun/09 jul/09 aug/09 sep/09 oct/09 nov/09 dec/09 jan/10 feb/10 mar/10 apr/10 may/10 jun/10 jul/10
Expectation Index Lopes' Confidence Index Present Situation Index
Lopes‟ Confidence Index intend to measure clients confidence, so Lopes can follow and anticipate, in the short term,
housing purchase tendency.
The sample has 532 interviews, with Grande São Paulo resident clients, which contacted Lopes in the last 3 months and
are interested in purchasing a new home.
(base: jan/2009=100)
Source: Lopes Market Intelligence
48

49. Present Purchase Intention Growth
55%
47%
High
Positive
atributes
28% Medium
30%
25% Low
15%
For the Real Estate Market are
considered positive attributes the
intentions of purchasing properties in
HIGH and MEDIUM levels which were
mentioned at the moment of the
interview.
(base: jan/2009=100) .
Source: Lopes Market Intelligence
49

50. Sales Speed Over Supply
50

51. Sales Speed over Supply
Lopes' Consolidated Sales Speed Habitcasa‟s Sales Speed
65.4%
36.4% 60.7%
25.9%
2Q09 2Q10 2Q09 2Q10
*Management information,
The Sales Speed over Supply is obtained based on the quarter’s contracted GVS compared to inventory and launches.

52. Habitcasa‟s Sales Speed Over Supply
Sales Speed Over Supply HBC x In-House Sales Forces
70%
60%
50%
40%
In-House Sales
Forces 30%
20%
10%
0%
-10%
0 1 2 3 4 5 6 7 8 9 10 11 12 13
Month
Habitcasa‟s Sales Speed Over Supply proves to be much larger than the average
of the Internal Sales Forces‟.
52

53. Operational Highlights
53

54. Contracted Sales‟ Historical in the Primary Market*
Total GVS – Primary Market
(in R$ million)
9,370
8,658
4,873
2,545
1,853
1,556
1,166 1,253
591 850
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
* Unaudited managerial information. 54

55. Contracted Sales
Contracted Sales Units Sold
(R$ MM)
3,410 12,369
613
272
49%
56%
8,321
2,183
381
163
3,138 11,756
7,940
2,020
2Q09 2Q10 2Q09 2Q10
Primary Market Secondary Market Primary Market Secondary Market
55

56. Financial Highlights
56

57. Net Commission by Market
Net Commission
3.0%
2.9% 2.8% 2.8% 2.8% 2.8%
2.6% 2.6%
2.5% 2.5% 2.5% 2.6% 2.5%
2.2% 2.2% 2.3% 2.2% 2.3%
2.1% 2.1%
São Paulo Rio de Janeiro Other Markets Brazil
2Q09 3Q09 4Q09 1Q10 2Q10
57

58. Results 2Q10
The CrediPronto!
Revenue does not
include the mortgages
financial spread
Results 2Q10
(R$ „000) LOPES PRONTO! CREDIPRONTO! CONSOLIDATED
Net Revenue 76,147 3,540 181 79,868
Operating Costs and Expenses (36,615) (2,861) (1,025) (40,501)
Stock Option Expenses (CPC 10) (816) (816)
Expenses Accrual from Itaú (238) (238)
Pro-Forma EBITDA1 39,294 679 (844) 39,129
Pro-Forma EBITDA Margin 52% 19% -466% 49%
Pro-Forma Net Income2 24,915 330 (1,238) 24,007
Pro-Forma Net Income Margin 33% 9% -684% 30%
Without Pronto! and Credipronto!‟s effect,
Brasília had a R$8.3 million Income, while
Lopes‟ EBITDA would‟ve been R$39
Campinas had a R$2.1 million Income,
millions, with a 52% margin and a Net
what explains the minorities Interests of
Income of R$25 million, with a 33%
R$6.0 million.
margin.
1 Pro Forma EBITDA is a non-accounting measure drawn up by Lopes, which consists on EBITDA excluding the effects of stock option expenses. 58
2 Pro Forma Net Income is a non-accounting measure drawn up by Lopes, which consists on EBITDA excluding the effects of stock option expenses.

59. 2Q10 Performance - Comparative Analysis
Sales, EBITDA Margin, Net Income and Net Margin Progress
3,410
3,062
2,602 2,545
2,183
Contracted 56%
Sales
(R$ million)
46% 46% 49%
40%
36% +22%
EBITDA
Margin
Pro-Forma
22,631 23,191
16,342
10,025 11,611 +134%
Net Income
(R$ thousand)
33%
27% 30%
20% 20% +49%
Pro-Forma
Net Margin
2Q09 3Q09 4Q09 1Q10 1Q10
59

60. Guidance for 2010
60

61. Sales‟ Guidance for 2010
(R$ BI)
12.0 – 12.5
32%
9.3
2009 Sales 2010 Guidance
* The General Value of contracted sales (Contracted GVS) projected in this release may change due to many variables. This material fact includes forward
looking statements related to business perspectives, results estimates and, also, the growth outlook for Lopes. Such forward looking statements may be
substantially affected by changes in market conditions, government decisions, stronger competition, industry performance as well as Brazilian economy
performance, in addition to those risks presented in the documents released and filed by Lopes, consequently, they are subject to changes without previous
notice. 61

62. Additional Information
62

63. Lopes‟ Contracted Sales Seasonality
Two seasonality components:
• Natural variation in sales related to holidays or vacation periods over the year. The first quarter is more
significantly affected by summer vacations and the week of Carnival celebrations.
• Variations in sales stemming from the sales pipeline in the real estate development market, in which
projects launched are subject to licensing and permit requirements, which account for significant distortions
in a quarter-over-quarter comparison.
41%
37%
32% 33%
31%
29% 29% 28%
25% 24%
22% 22% 23% 23%
21%
17% 18%
16% 15%
14%
2005 2006 2007 2008* 2009
1Q 2Q 3Q 4Q
Unstable sales behavior in each quarter accounts for variations in yearly sales
* The seasonality can not be verified in 2008, because of the effects of the world financial crisis.
63

64. Ownership Structure
Ownership Structure Post-IPO
4% 1%
Rosediamond LLP
30% 37%
F.I.M. Crédito Privado Mocastland
Management
Foreigner Investors - Free Float
19% 9% National Investors - Free Float
Individual Investors
Total of 49,506,719 common shares
64

65. Contacts
INVESTOR RELATIONS CONTACT
E mail: ri@lopes.com.br
Website: www.lopes.com.br/ri
65