- Quepasa Corporation presented at Noble Financial Capital Markets' Eighth Annual Equity Conference on January 18, 2012. - They have significant global scale with over 8 million monthly active users, 2 million new users, and 2.5 billion page views per month across their platforms. - Their focus is on continued growth in mobile applications, virtual currency, and expanding internationally. - Their trailing twelve month combined revenues from the fourth quarter of 2010 to the third quarter of 2011 was $36.3 million, up 47% from the prior period.

1. Quepasa Corporation
NYSE Amex: QPSA
Investor Presentation
Noble Financial Capital Markets’ Eighth Annual Equity Conference
January 18, 2012

2. Cautionary Note Regarding Forward Looking Statements
Certain statements in this presentation and responses to various questions include forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained herein are forward-looking statements,
including statements regarding the benefits of the merger, integration, moving to one platform, creating the public market leader in social discovery,
future growth including expanding internationally, mobile growth including our tablet launch, launch of our second Wonderful City game, launch of paid
currency on myYearbook, virtual currency monetization, our future financial performance, our liquidity, increased revenue, our business strategy and the
plans and objectives of management for future operations. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,”
“could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements.
We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we
believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to
differ from those in the forward-looking statements include: Quepasa Games’ ability to develop other social games which users are attracted to, the risk
that myYearbook and Quepasa.com users will be willing to purchase virtual currency for the various offerings, the effectiveness of the mobile software on
smartphones and tablets, international risks including currency fluctuations and political instability, technology development risk including unanticipated
technical problems which impede the development of our tablet platform, paid currency and second Wonderful City game, the risk that the Quepasa and
myYearbook businesses will not be integrated successfully, and disruption from the merger making it more difficult to maintain business and operational
relationships. Further information on our risk factors is contained in our filings with the SEC, including the Form S-4/A filed on October 4, 2011 and our
Form 10-K for the year ended December 31, 2010. Any forward-looking statement made by us herein speaks only as of the date on which it is made.
Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We
undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise,
except as may be required by law.
QPSA 2

3.  Public market leader for social discovery
 Significant global scale – 8+ million monthly active users (MAU), 2+
million new users, and 2.5 billion page views each month1
 Fast-growing mobile applications – now 54% of daily logins. Top 15
Free Social App in Android Marketplace
 Robust product pipeline focused on continued growth in mobile,
virtual currency, and international
 TTM (4Q10 – 3Q11) Combined Revenue = $36.3 million; Up 47% vs.
prior period
1 – Quepasa.com, myYearbook.com and Wonderful City combined numbers for average month during Q3 2011
QPSA 3

4. Our mission is to be the best place to meet new people. We
make meeting people fun through social games and apps. Our
social graph is not the people you know but the people you
want to know.
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5. Two Strong Brands Spanning the Americas
 Social discovery platform: Quepasa.com,  Social discovery platform: myYearbook.com,
40MM members top 40 U.S. site1
 Successful social gaming title: Wonderful  Fast-growing mobile apps: Android and
City, with strong followings on Facebook, iPhone
Orkut, and Quepasa
 Proprietary brand advertising platform: Social
 Low-cost software development: Brazil- Theater delivers branded actions cross-
based social gaming studio, Mexico-based platform through virtual-currency incentive
development team
 U.S. Presence: Locations in Pennsylvania, NYC
1 – By Page Views, Time Spent, and Minutes per Visitor per month (US comScore)
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6. Brand Combination Created Significant Scale
Monthly Active Users Weekly Pageviews
8.0 250
7.0
PV's in millions
200
MAU in millions
6.0
150
5.0
4.0 100
3.0
50
2.0
1.0 -
-
Pre-merger: Oct 2011 Post-merger: Nov 2011
Source: quancast.com combined global “People” and “Pageviews” for quepasa.com and myyearbook.com. MAU assumes merger closed on November 1. Quantcast data is
independently tracked and available at quantcast.com.
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7.  Enables meeting new people in an inviting, fun environment
 More pageviews than Twitter, LinkedIn and Match.com
- Source: December 2011 comScore US. Bubbles represent relative size of each property in terms of US page views. Facebook is approximately 1/11 of actual scale. All
others are true to scale. QPSA 7

8.  Mobile: Majority mobile in 2012 1
1 – Mobile statistics related to myYearbook only.
QPSA 8

9. Advertising Virtual Currency
Industry-leading engagement drives Wonderful City continues to grow. 2nd
significant advertising inventory game scheduled to launch in Q2 2012
20 person advertising team direct to Currency-based actions drive brand
leading agencies awareness
Paid currency launched on myYearbook in
Represented approximately 83% of
Q4 2011 and launching on mobile in Q1
9-month 2011 revenue
2012
QPSA 9

10. Pageviews
Q3 2011 YTD Revenues 9.0
 Up 32.5% versus same period of 2010 across both businesses 8.0 66% Combined
7.0 Annual Growth
 Consensus 2012 Revenues = $48.3 to $52.3 million
Pageviews in Billions
6.0
Quepasa Corporation is providing the information as a service to interested parties. Quepasa
Corporation did not prepare the accompanying research reports and takes no responsibility for their 5.0
content. 4.0
3.0
Engagement metrics showing strong growth 2.0
 Visits and page-view increases demonstrate industry-leading 1.0
-
engagement and drive significant ad inventory 3Q10 3Q11
Year to Date 2011 Revenue Growth Visits
30.0 350.00
300.00 32% Combined
25.0
Annual Growth
Revenue (Millions)
MYB 250.00
20.0
Visits in Million
up 32.6%
200.00
15.0 myYearbook
150.00
10.0 Quepasa
QPSA
100.00
5.0 up 32.3%
50.00
-
-
YTD 3Q 10 YTD 3Q 11
3Q10 3Q11
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11.  A single platform brings operational and product efficiencies
 The myYearbook platform’s strong monetization, engagement, and
mobile offerings make it the platform of choice
 Leverage Quepasa team to build more product faster for larger audience
 The first step, internationalization, is underway. Smartling chosen to
expedite effort. The second step, migration, targeted for completion in
Q4 2012
 Q2 2012: Localize Mobile Apps
 Q3 2012: Localize web experience
 Q4 2012: Migrate Quepasa users to new platform
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12.  Continued Mobile Growth
 iPad launched Q4 2011
 Expect continued growth in mobile share of visits
 Virtual Currency
 ~15% of revenue today – share expected to increase
in 2012
 Growth from dual currency and frictionless mobile
purchases
 Internationalization
 90% of combined PV’s and visits currently from US
 Like Facebook and Twitter, expect international to grow
such that US is less than 50% of total
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13. Market Trailing Twelve Month 2011 2012
Company Ticker Capitalization Revenues MC/Rev Revenues MC/Rev Revenues MC/Rev
Renren, Inc RENN $ 1,360 $ 83 16.4x $ 118 11.5x $ 177 7.7x
Yandex, N.V. YNDX $ 6,050 $ 554 10.9x $ 648 9.3x $ 911 6.6x
LinkedIn, Corp. LNKD $ 6,420 $ 436 14.7x $ 514 12.5x $ 823 7.8x
Groupon, Inc. GRPN $ 12,150 $ 1,290 9.4x $ 1,590 7.6x $ 2,270 5.4x
Angie's List ANGI $ 677 $ 79 8.6x $ 88 7.7x $ 141 4.8x
Zynga, Inc. ZNGA $ 5,770 $ 1,020 5.7x $ 1,160 5.0x $ 1,460 4.0x
10.9x 8.9x 6.0x
Quepasa Corp. QPSA $ 109 $ 36 3.0x $ 38 2.9x $ 50 2.2x
Footnotes:
1) Source: RENN, YNDX, LNKD, GRPN, ANGI and ZNGA from Yahoo! Finance, January 10, 2012.
2) Quepasa estimates reflect consensus, except 2011 Revenues which is from Rodman & Renshaw's November 22, 2011 Initiation Report.
3) Quepasa Market Capitalization and TTM Revenues reflect combined QPSA/MYYB post-merger.
Current Equity Coverage
Morgan Joseph TriArtisan Buy Rating $5.50 Target Initiated October 3, 2011
Rodman & Renshaw Market Outperform $7.00 Target Initiated November 22, 2011
From Rodman & Renshaw’s January 10, 2012 Note: “Maintain Market Outperform Rating. QPSA is currently trading at a revenue multiple of 1.26x and
P/E multiple of 8.0x to our expectations for 2013. This compares to industry averages ranging from under 1x to over 17x on a revenue basis and 8x to 25x
on P/E basis. We believe any multiple expansion for the company will be driven by 1) successful integration of myYearbook 2) new product / service
introductions (especially in Mobile) 3) potential re-branding of the service 4) improved revenue visibility 5) a substantially larger US and international user
base and 6) consistent improvements in traffic trends. We believe investor’s looking for exposure to growth opportunities in the social networking arena
may find QPSA attractively positioned into the next phase of its expansion. We are comfortable maintaining our $7.00 price target that results in a P/E
valuation multiple of ~18x to our 2013 estimates. We believe this is an inline multiple relative to the industry averages predicated on industry average
growth expectations.”
Quepasa Corporation is providing the information as a service to interested parties. Quepasa Corporation did not prepare the accompanying research
reports and takes no responsibility for their content. QPSA 13

14.  Public market leader for social discovery
 Significant global scale – 8+ million monthly active users (MAU), 2+
million new users, and 2.5 billion page views each month1
 Fast-growing mobile applications – now 54% of daily logins. Top 15
Free Social App in Android Marketplace
 Robust product pipeline focused on continued growth in
mobile, virtual currency, and international
 TTM (4Q10 – 3Q11) Combined Revenue = $36.3 million; Up 47% vs.
prior period
1 – Quepasa.com, myYearbook.com and Wonderful City combined numbers for average month during Q3 2011
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15. QPSA 15