The presentation provides an overview of LPS Brasil's operational and financial results for the second quarter of 2011, highlighting record contracted sales of R$5 billion, net revenue of R$127 million (up 59% year-over-year), and net income of R$39.7 million. CrediPronto also achieved strong growth in mortgage originations and financed volume.

1. 2Q11 Presentation
Presenters
Francisco Lopes – COO
Marcello Leone – CFO and IRO
Bruno Gama - COO CrediPronto!
1

2. Forward-looking statements
This presentation does not constitute or form part of any offer, or invitation or solicitation of any offer to purchase,
sell or subscribe for shares or other securities of the Company, nor shall this presentation or any information
contained herein form the basis of, or act as inducement to enter into, any contract or commitment whatsoever.
This presentation contains financial and other information related to the business operations of Lopes –LPS Brasil
Consultoria de Imóveis S.A and its subsidiaries (“LPS” or the “Company”) as of and for the period ended June 30th
2011. It should not be considered as a recommendation for prospective investors to sell, purchase or subscribe
for securities of the Company. The information presented herein is in summary form and does not purport to be
complete. No reliance should be placed on the accuracy completeness of the information contained herein,
and no representation or warranty, express or implied, is given on behalf of the Company or its subsidiaries as to
the accuracy completeness of the information presented herein.
This presentation contains forward-looking statements. Investors are advised that whilst the Company believes
they are based on reasonable assumptions by Management, forward-looking statements rely on current
expectations and projections about future events and financial trends, and are not a guarantee of future results.
Forward-looking statements are subject to risks and uncertainties that affect or may affect business conditions
and results of operations, which therefore could materially differ from those anticipated in forward-looking
statements due to several factors, including competitive pressures, Brazilian macroeconomic conditions,
performance of the industry, changes in market conditions, and other factors expressed or implied in these
forward-looking statements or disclosed by the Company elsewhere, factors currently deemed immaterial.
The forward-looking statements contained herein speak only as of the date they are made and neither
Management, nor the Company or its subsidiaries undertake any obligation to release publicly any revision to
these forward-looking statements after the date of this presentation or to reflect the occurrence of unanticipated
events.
2

3. Program
I. Highlights
II. Operational Results
III. Credipronto!
IV. Financial Results
3

4. Highlights
4

5. Highlights
• LPS Brasil reached R$5 billion in contracted sales in 2Q11, a 44% growth from 2Q10, which marks a record for
the Company in a single quarter, with R$3.9 billion only in the primary market.
• Net Revenue in this quarter was R$126.7 million, 59% higher than 2Q10, also an all time record.
• EBITDA in 2Q11 was R$59.2 million, up 94% from 2Q10, with EBITDA Margin of 47%.
• LPS Brasil posted Net Income of R$45.9 million in 2Q11, a growth of 72% on 2Q10. Net Income After Minority
Interest was R$39.7 million.
• CrediPronto! granted R$328 million in mortgage loans in this quarter, from a VGV of R$525.7 million and
accrued origination of over R$1.3 billion.
• In June, Financed Volume surpassed R$121 million, setting a new record, putting the company toward an
annualized run rate of R$ 1,45b
• Acquisitions : AçãoDall’Oca (Brasília) in 2Q11 and Condessa (São Paulo) in July.
•As an efficient distribution channel, Lopes continues to post a solid sales speed (VSO), above the market
average (24,5% consolidated and 51% in the low income segment)
5

6. LPS Brasil: Unique Business Platform
Primary Market Secondary Market Mortgage Loan
Contracted Sales Contracted Sales Financed Volume
23% 2Q11 x 2Q10 299% 2Q11 x 2Q10 125% 2Q11 x 2Q10
VGV R$ 3,9B VGV R$ 1,1B R$ 328 MM
LPS Brasil Net Revenue
59% 2Q11 x 2Q10
R$ 127 MM
6

7. Operational Results
7

8. Contracted Sales
Contracted Sales Units Sold
(R$ MM)
4,957
45%
1,085 17,125
3,410
272 38% 2,293
12,369
613
3,872
3,138 14,832
11.756
2Q10 2Q11 2Q10 2Q11
In this Quarter, we Achieved R$ 5 billion in Contracted Sales.
8

9. Gross and Net Revenue
Gross Revenue Net Revenue
(R$ MM) (R$ MM)
59%
57%
126.7
138.0
79.9
87.9
2Q10 2Q11 2Q10 2Q11
In this quarter, we recognized R$127 million in Net Revenue.
9

10. Sales Speed over Supply
Lopes' Consolidated Sales Speed Habitcasa’s Sales Speed
59.8%
51.0%
23.8% 24.5%
1Q11 2Q11 1Q11 2Q11
*Management information, 10
The Sales Speed over Supply is obtained based on the quarter’s contracted GVS compared to inventory and launches.

11. Sales by Income Segment – Primary and Secondary Markets
Contracted Sales
Total Contracted Sales = R$4,957 million
2Q10 2Q11
22% 13% 10%
32%
35%
27% 39%
23%
Units Sold
Total units sold = 17,125
2Q10 2Q11
5%
8%
17% 34% 15% 34%
44%
45%
11

12. Contracted Sales by Geographic Region – Primary and Secondary Markets
Contracted Sales
2Q10 2Q11
13% 9%
12%
11% 44%
49% 3%
5% 8%
17%
5% 24%
São Paulo Rio de Janeiro Brasília Campinas South Other
12

13. Contracted Sales by Geographic Region – Primary and Secondary Markets
Contracted Sales
Contracted Sales= R$ 5 billion
Secondary Market
Primary Market
10% 7%
8%
3%
9% 44% 25%
45%
27% 5%
3%
15%
São Paulo Rio de Janeiro Brasília Campinas South Other
13

14. Contracted Sales breakdown
Contracted Sales
Contracted Sales= R$ 5 billion
R$ 1,7bi R$ 1,1bi
35% 22%
43%
R$ 2,2bi
Secondary Market
Non-listed homebuilders
Listed homebuilders
14

15. LPS Brasil in the Mortgage Market
CrediPronto!
15

16. CrediPronto!
2Q11
Total Sales
R$328 MM in Average LTV of Average Rate Average Term
Volume of
Mortgages 62,4% of 10% + TR of 293months
R$ 1,34bi (LTD)
In June, CrediPronto! financed more than R$ 121 million, another record for the company
16

17. CrediPronto!
Financed Volume in
Financed Volume Financed Volume - June
2011
(R$ MM) (R$ MM) (R$ MM)
Compund
Origination
LTM: R$904 Monthly growth 121
328 rate of 19% 121
106
101
86 133%
125%
74
146 50 52
2Q10 2Q11 jan/11 feb/11 mar/11 apr/11 may/11 jun/11 jun/10 jun/11
Considering the financed volume of June, CrediPronto! is already on a run rate of R$ 1,45bi for
the year.
17

18. CrediPronto!
Accumulated Sales Volume *
(R$ MM)
1.341
1.220
1.114
1.013
928
854
804
727
654
591
529
474
437
385
331
291
217 247
CrediPronto! compound monthly growth rate is 11% (LTD) and 19% in 2011
18
*Not including amortization.

19. Financial Results
19

20. Net Commission by Market
2T10 3T10 4T10 1T11 2T11
BRAZIL 2.5% 2.7% 2.5% 2.4% 2.4%
Primary
SP 3.0% 3.2% 3.1% 2.9% 3.0%
Habitcasa 1.8% 1.9% 1.9% 1.9% 1.9%
RJ 2.2% 2.1% 2.1% 2.2% 2.0%
Other
2.1% 2.3% 2.1% 2.1% 2.1%
markets
Secondary
SP 2.5% 2.4% 2.3% 1.9% 2.4%
RJ - - 2.3% 2.4% 2.5%
Other
- - - 2.1% 2.4%
markets
20

21. 2Q11 Results
2Q11 Results
(R$ thousand)
LOPES Pronto! CrediPronto! Consolidado
Gross Revenue 94.787 27.068 16.125 137.979
Revenue from Real Estate Brokerage 91.162 27.068 481 118.710
Revenue to Accrue from Itaú 3.625 - - 19.269
Earn Out 15.644
Net Revenue 86.090 24.584 16.046 126.720
(-) Operating Costs and Expenses (48.117) (14.396) (3.707) (66.219)
(-) Stock Option Expenses (CPC 10) (517) - - (517)
(-) Expenses to Accrue from Itaú (238) - (571) (809)
(=)EBITDA 37.217 10.188 11.768 59.174
EBITDA Margin 43,2% 41,4% 73,3% 46,7%
(-) Depreciation and Amortization (6.819) (5.284) (10) (12.113)
(+/-) Financial Result 10.664 1.720 (267) 12.116
(-) Income and social contribution taxes (10.803) (1.521) (957) (13.282)
(=) Net Income for the year 30.260 5.102 10.534 45.896
Net Margin 35,1% 20,8% 65,6% 36,2%
(=) Net Income for the year
- Attributable to Non Controlling Shareholders (6.244)
- Attributable to Controlling Shareholders 39.652
Net margin after Non Controlling Shareholders 31,3%
21

22. Operational Expenses
Evolution of Operational Expenses*
Expenses*
67,545
60,970 59,270
18,326
8,811
9,982
52,159 49,228 49,219
4Q10 1Q11 2Q11
Organic (pre M&A) Acquisition
22
* Not considering IFRS

23. EBITDA
EBITDA
(R$ thousand)
48% 47% 48%
42%
54% 20%
59.174
46.088
38.313 38.313
2Q10 2Q11 2Q10 2Q11 Ex Earn Out
EBITDA margin
23

24. Net Income
Net Income after minority interest
(R$ MM)
Net Income from
30%
operations
27.6 29.9
21.2
R$27,6 MM
Net Income 2Q10 Net Income 2Q11 Net Income without
IFRS
Net Income
R$39.7 MM Net Income from
The Earn Out will be accrued during the 12
Earn Out month period of 2011. Therefore, we will book
an additional R$12.1 million Net Income in 3Q11
R$12,1 MM
and 4Q11, 50% in each quarter.
"Cash Earnings"
(R$ MM)
8.1 5.8
12.1
54.1
39.7
Net Income Cash Difference - Goodwill Net Positive Impact - Cash Earnings
Attributable to Earn Out Amortization Call/Put
Controlling
Shareholders
24

25. Quarterly Performance – Compared Analysis
Evolution of Net Revenue, EBITDA Margin, Net
Revenue, Margin,
Income and Net Margin
127
Net Revenue Disregarding he
(R$ million) 80 effect of the
139%
53
Earn Out, net
revenue would
be R$ 111 million
48% 47%
EBITDA Margin
40%
18%
40
Net Income after
Non Controlling 21
Shareholders 260%
11
(R$ million)
Net Income in
the 2Q11
sustained the
growth
Net Margin after compared to
31% 2Q09 e 2Q10.
Non Controlling 27%
Shareholders 21%
51%
2Q09 2Q10 2Q11 25

26. Next Events
2Q11 Earnings Conference Call
Portuguese English
Date: 08/15/2011, Monday Date: 08/15/2011, Monday
Time: 11h00 a.m. (BR Time) Time: 12h30 p.m. (BR Time)
10h00 a.m. (NY Time) 11h30 a.m. (NY Time)
Telephone: (11) 4688-6361 Telephone Brazil: (11) 4688-6361
Password: LPS Brasil Telephone US: +1 888-700-0802
Telephone other countries: +1 786 924-6977
Password: LPS Brasil
Replay: Replay:
http://webcall.riweb.com.br/lpsbrasil/ http://webcall.riweb.com.br/lpsbrasil/english/
CONTACTS
Marcello Leone Paulo Samia
CFO and IRO Planning and IR Director
Tel. +55 (11) 3067-0015 Tel. +55 (11) 3067-0520
E-mail: ri@lopes.com.br
www.lopes.com.br/ir
26