DEUTSCHE BANK- GLOBAL

EMERGING MARKETS CONFERENCE

Clovis Poggetti Junior CFO AND IRO
The Company makes forward looking statements that are subject to risks and
uncertainties. These statements are based on the beliefs and assumptions of our
management as well as on information currently available to us. Forward-looking statements
include information regarding our current intent, beliefs or expectations, in addition to those of
the members of the Board of Directors and Executive Officers of the Company.

Forward-looking statements also include information regarding our possible or assumed future
operating results, as well as statements preceded or followed by, or that include, the words
''believes, ''may, ''will, ''continues, ''expects, ''anticipates, ''intends, ''plans,
''estimates, or similar expressions.

Forward-looking statements are not guarantees of performance. They involve risks,
uncertainties and assumptions, for they relate to future events, thus depending on
circumstances that may or may not occur. Our future results and the creation of value to
shareholder s may differ significantly from those expressed in or suggested by these forward-
looking statements. Many factors determining these results and values are beyond
Cielos ability to control or predict.

DISCLAIMER
#1
MERCHANT ACQUIRER
AND PAYMENT
PROCESSOR IN BRAZIL
AND LATIN AMERICA P
R
E
S
E
N
T

I
N

M
O
R
E

T
H
A
N

OF BRAZILIAN
MUNICIPALITIES
MARKET CAP AMONG
15 LARGEST IN
BM&FBOVESPA
R$ 38 BILLION
99%
EXCHANGE RATE: 1USD = R$2.0
CIELO | BRAZILS LEADING
MERCHANT ACQUIRER
01
1.2 million active merchants
ADR level 1 program
Most modern POS and data capture
network
50% minimum dividend pay out
R$ 4,795 billion annual revenue,
EBITDA of R$ 2,975 billion and net
income of R$ 1,810 billion
Free float of 42.4%
(controlling shareholders are Banco
do Brasil and Bradesco with equal
participation)
CIELO AT A GLANCE
CIELO | 1 OF THE WORLDS
LARGEST PAYMENT NETWORKS
EXCHANGE RATE: 1USD = R$2.0
02
Penetration Of Cards as Means of Payment
in the Private Consumption Expenditure (PCE)
GROWTH POTENTIAL GIVEN
LOW CARD PENETRATION
Growth [%]
15% 10% 5% 25% 20% 0
P
C
E

P
e
n
e
t
r
a
t
i
o
n

40%
30%
20%
60%
50%
10%
UK
The Netherlands
USA
Brazil
France
Card Volume [USD bn]
Other European
countries
SOURCE: DATAMONITOR; EUROMONITOR; PRESS RESEARCH; EIU; ROLAND BERGER - 2008
03
COMPETITIVE ADVANTAGES
Cielo is the dominant leader
Partnership with 4 of the largest Brazilian retail
banks
Working with the most relevant brands
Focus on anti-fraud and security systems
Cutting edge initiatives on mobile payment
Strong position on e-commerce
D
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P
R
O
D
U
C
T
S

A
N
D

S
E
R
V
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S

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N
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V
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Own sales force team
Unique products and solutions to merchants
04
0 5
CIELO | CREDIRIO PRODUCT
Credirio is a unique and exclusive
technology developed by Cielo
through which merchants can offer an
additional payment method that
allows cardholders to pay in up to 48
installments, accessing a pre-
approved
credit line from their checking
accounts through their bank cards.

Banco do Brasil and Bradesco made
available R$100 billion in credit to
the product. In the coming months
others banks will join (HSBC and
Caixa Ecnomica Federal).
MERCHANT
More sales volume: more than 20 million cardholders from BB
and Bradesco with pre-approved lines of credit;
Additional payment scheme without directly financing the
cardholder;
Better cash flow as funds are received in D+1;
Increase in average ticket;

CARDHOLDER
Pre-approved credit line from the bank;
Attractive interest rates;
Additional to credit cards limit;
Simulation at the point of sale;

CIELO
More sales volume;
Merchant Discount Rate similar to credit in installments.
CREDIRIO: more advantages to participants
06
CIELO | CREDIRIO PRODUCT
07
MeS Highlights
Leading e-Commerce payment services
provider with full range of merchant
acquiring, e-Commerce & fraud
management solutions

Proprietary, internet-based, next-
generation technology platform with best-
in-class scalability, analytical capabilities,
delivery speeds and cost of services

In-house development of products and
services provides superior transaction
economics across the value chain

Portable platform with upside for expansion

Good organic revenue growth, margins and
free cash flow

Seasoned management team
Rationale
Enhancement of Technology Platform
Opportunity to leverage MeS technology to
the Brazilian market and Rest of World
MeS platform designed to achieve maximum
scalability, efficiency and reliability at a low
cost
E-Commerce Improvement
E- Commerce is fastest growth merchant
category in payments
MeS has expertise and proprietary
technology tailored to serving e-commerce
merchants
Strong MeS Financial Performance
High organic growth and attractive margins
Cielo acquired 100% of MeS for $670 million
INNOVATION BEST IN CLASS PLATFORM
End-to-end payment processing
functionality:
e-Commerce
Business-to-Business
Mobile Commerce
Card present and card not
present merchants
Recurring Billing
Risk Management
WEB-BASED DELIVERY
A white-label and fully customizable
business solution:
Transaction Processing & Reporting
E-Commerce & Mobile
Risk Management
Product & Pricing
Compliance Administration
Sales Training and Marketing
Business Analytics
FULL RANGE OF ACQUIRING, E-COMMERCE & MOBILE PAYMENT SERVICES
* Last twelve months ended May 31, 2012
MERCHANTS
AGENT BANKS
MERCHANT e-SOLUTIONS
AT A GLANCE
08
Year Founded 2000
Number of
Merchants
70,000+
Processing
Volume
$14bn+
# of Settled
Transactions
130mm+
LTM Net Revenue of
$124 million*
1.403
1.720
2.003
2.323
2.658
987
1.232
1.424
1.716
1.964
2007 2008 2009 2010 2011
Number of transactions (million)
Debit
Credit
CAGR: 17.9%
2,389
2,952
3,427
4,039
CIELO PROCESSED MORE THAN
4 BILLION TRANSACTIONS IN 2011
4,622
09
CIELOS NETWORK CAPTURED THE
EQUIVALENT OF 8.5% OF THE BRAZILIAN GDP
87.966
110.897
134.792
162.933
197.541
48.534
64.655
79.166
98.742
118.315
2007 2008 2009 2010 2011
Financial Volume (R$ million)
Debit
Credit
136,500
175,552

213,958


261,675



315,816
CAGR: 23.3%
10
STRONG CASH GENERATION
* Adjusted considering the prepayment business as operational
1,409.5
1,764.3
2,450.7
2,925.9
2,975.2
59%
61%
68%
67%
62%
45,00%
50,00%
55,00%
60,00%
65,00%
70,00%
75,00%
0,0
500,0
1.000,0
1.500,0
2.000,0
2.500,0
3.000,0
3.500,0
2007 2008 2009 2010 2011
11
676
824
996
1,133
1,140
1.199
2006 2007 2008 2009 2010 2011
Number of Active Merchants (thousand)
Active merchants (transactions in the last 60 days)
1.2 MILLION ACTIVE MERCHANTS
12
* AFTER CONSTITUTION OF LEGAL RESERVES
Leader in a fast growing market
Strong balance sheet, high
cash generation and low
capex requirements
Minimum dividend pay
out of 50% of net profit*
distributed twice a year
Focus on innovation
and continuous growth
CIELO INVESTMENT CASE
13
INVESTOR RELATIONS CONTACTS
www.cielo.com.br/ri
E-mail: ri@cielo.com.br | Phone: + 55 11 2596 1701