You are on page 1of 30

Operating Shoppings Portfolio Mar-06 Jun-06

Total GLA State 1Q06 2Q06


BHShopping MG 35,450 m² 35,450 m²
RibeirãoShopping SP 39,130 m² 39,130 m²
BarraShopping RJ 69,138 m² 69,355 m²
MorumbiShopping SP 49,670 m² 49,665 m²
ParkShopping DF 39,276 m² 39,276 m²
DiamondMall MG 20,757 m² 20,757 m²
New York City Center RJ 22,067 m² 22,067 m²
Shopping AnáliaFranco SP 39,310 m² 39,310 m²
ParkShoppingBarigüi PR 39,022 m² 39,022 m²
Pátio Savassi MG 0 m² 0 m²
Shopping SantaÚrsula SP 0 m² 0 m²
BarraShoppingSul (BIG) RS 14,400 m² 14,400 m²
Shopping VilaOlímpia SP 0 m² 0 m²
Portfolio Total 368,220 m² 368,432 m²

Multiplan Interest State 1Q06 2Q06


BHShopping MG 80.0% 80.0%
RibeirãoShopping SP 56.2% 56.2%
BarraShopping RJ 51.1% 51.1%
MorumbiShopping SP 51.7% 51.7%
ParkShopping DF 60.0% 60.0%
DiamondMall MG 45.0% 45.0%
New York City Center RJ 50.0% 50.0%
Shopping AnáliaFranco SP 30.0% 30.0%
ParkShoppingBarigüi PR 90.0% 90.0%
Pátio Savassi MG 0.0% 0.0%
Shopping SantaÚrsula SP 0.0% 0.0%
BarraShoppingSul (BIG) RS 50.0% 50.0%
Shopping VilaOlímpia SP 0.0% 0.0%
Portfolio Total 56.9% 56.9%

Own GLA State 1Q06 2Q06


BHShopping MG 28,360 m² 28,360 m²
RibeirãoShopping SP 21,979 m² 21,979 m²
BarraShopping RJ 35,308 m² 35,419 m²
MorumbiShopping SP 25,683 m² 25,680 m²
ParkShopping DF 23,559 m² 23,559 m²
DiamondMall MG 9,341 m² 9,341 m²
New York City Center RJ 11,034 m² 11,034 m²
Shopping AnáliaFranco SP 11,793 m² 11,793 m²
ParkShoppingBarigüi PR 35,119 m² 35,119 m²
Pátio Savassi MG 0 m² 0 m²
Shopping SantaÚrsula SP 0 m² 0 m²
BarraShoppingSul (BIG) RS 7,200 m² 7,200 m²
Shopping VilaOlímpia SP 0 m² 0 m²
Portfolio Total 209,376 m² 209,484 m²

Total GLA (avg.) Estado 1Q06 2Q06


BHShopping MG 35,450 m² 35,450 m²
RibeirãoShopping SP 39,295 m² 39,130 m²
BarraShopping RJ 69,138 m² 69,280 m²
MorumbiShopping SP 49,670 m² 49,656 m²
ParkShopping DF 39,297 m² 39,276 m²
DiamondMall MG 20,757 m² 20,757 m²
New York City Center RJ 22,067 m² 22,067 m²
Shopping AnáliaFranco SP 39,310 m² 39,310 m²
ParkShoppingBarigüi PR 39,028 m² 39,022 m²
Pátio Savassi MG 0 m² 0 m²
Shopping SantaÚrsula SP 0 m² 0 m²
BarraShoppingSul RS 0 m² 0 m²
Shopping VilaOlímpia SP 0 m² 0 m²
Total do Portfolio 354,013 m² 353,948 m²

Own GLA (avg.) Estado 1Q06 2Q06


BHShopping MG 28,360 m² 28,360 m²
RibeirãoShopping SP 22,072 m² 21,979 m²
BarraShopping RJ 35,308 m² 35,381 m²
MorumbiShopping SP 25,683 m² 25,676 m²
ParkShopping DF 23,571 m² 23,559 m²
DiamondMall MG 9,341 m² 9,341 m²
New York City Center RJ 11,034 m² 11,034 m²
Shopping AnáliaFranco SP 11,793 m² 11,793 m²
ParkShoppingBarigüi PR 35,125 m² 35,119 m²
Pátio Savassi MG 0 m² 0 m²
Shopping SantaÚrsula SP 0 m² 0 m²
BarraShoppingSul RS 0 m² 0 m²
Shopping VilaOlímpia SP 0 m² 0 m²
Total do Portfolio 202,287 m² 202,241 m²

Average Occupancy Rate State 1Q06 2Q06


BHShopping MG 96.48% 95.78%
RibeirãoShopping SP 98.51% 98.20%
BarraShopping RJ 98.53% 98.20%
MorumbiShopping SP 93.12% 95.78%
ParkShopping DF 93.71% 93.89%
DiamondMall MG 94.11% 94.89%
New York City Center RJ 98.65% 98.72%
Shopping AnáliaFranco SP 94.64% 94.61%
ParkShoppingBarigüi PR 88.23% 96.06%
Pátio Savassi MG 0.00% 0.00%
Shopping SantaÚrsula SP 0.00% 0.00%
BarraShoppingSul (BIG) RS 0.00% 0.00%
Shopping VilaOlímpia SP 0.00% 0.00%
Portfolio Total 95.2% 96.3%
Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08
3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08
35,450 m² 35,450 m² 35,450 m² 35,450 m² 35,450 m² 35,450 m² 34,739 m²
39,130 m² 39,130 m² 39,130 m² 39,130 m² 39,188 m² 39,188 m² 39,188 m²
69,312 m² 69,312 m² 69,312 m² 69,316 m² 69,825 m² 69,825 m² 69,829 m²
49,774 m² 54,987 m² 54,967 m² 54,967 m² 54,999 m² 54,999 m² 54,958 m²
39,276 m² 39,276 m² 39,276 m² 39,293 m² 39,293 m² 39,293 m² 39,775 m²
20,757 m² 20,757 m² 20,757 m² 20,757 m² 20,806 m² 20,806 m² 20,806 m²
22,067 m² 22,067 m² 22,067 m² 22,068 m² 22,068 m² 22,068 m² 22,068 m²
39,310 m² 39,310 m² 39,310 m² 39,310 m² 39,310 m² 39,310 m² 39,310 m²
38,793 m² 38,791 m² 38,794 m² 41,389 m² 41,395 m² 41,395 m² 41,405 m²
0 m² 0 m² 0 m² 17,534 m² 15,545 m² 15,545 m² 15,538 m²
0 m² 0 m² 0 m² 0 m² 0 m² 0 m² 0 m²
14,400 m² 14,400 m² 14,400 m² 14,400 m² 14,400 m² 14,400 m² 14,400 m²
0 m² 0 m² 0 m² 0 m² 0 m² 0 m² 0 m²
368,269 m² 373,480 m² 373,464 m² 393,615 m² 392,279 m² 392,279 m² 392,015 m²

3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08


80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0%
56.2% 56.2% 76.2% 76.2% 76.2% 76.2% 76.2%
51.1% 51.1% 51.1% 51.1% 51.1% 51.1% 51.1%
51.7% 56.3% 56.3% 56.3% 56.3% 65.8% 65.8%
60.0% 60.0% 60.0% 60.0% 60.0% 60.0% 60.0%
45.0% 45.0% 90.0% 90.0% 90.0% 90.0% 90.0%
50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0%
30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
90.0% 90.0% 90.0% 90.0% 84.0% 84.0% 84.0%
0.0% 0.0% 0.0% 83.8% 83.8% 83.8% 83.8%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 37.5%
50.0% 50.0% 100.0% 100.0% 100.0% 100.0% 100.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
56.8% 57.4% 64.0% 65.0% 64.3% 65.6% 65.6%

3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08


28,360 m² 28,360 m² 28,360 m² 28,360 m² 28,360 m² 28,360 m² 27,791 m²
21,979 m² 21,979 m² 29,805 m² 29,805 m² 29,850 m² 29,850 m² 29,850 m²
35,397 m² 35,397 m² 35,397 m² 35,399 m² 35,659 m² 35,658 m² 35,661 m²
25,736 m² 30,951 m² 30,940 m² 30,940 m² 30,958 m² 36,180 m² 36,152 m²
23,559 m² 23,559 m² 23,559 m² 23,569 m² 23,569 m² 23,567 m² 23,856 m²
9,341 m² 9,341 m² 18,681 m² 18,681 m² 18,725 m² 18,725 m² 18,725 m²
11,034 m² 11,034 m² 11,034 m² 11,034 m² 11,034 m² 11,034 m² 11,034 m²
11,793 m² 11,793 m² 11,793 m² 11,793 m² 11,793 m² 11,793 m² 11,793 m²
34,913 m² 34,912 m² 34,915 m² 37,250 m² 34,772 m² 34,772 m² 34,780 m²
0 m² 0 m² 0 m² 14,695 m² 13,028 m² 13,028 m² 13,022 m²
0 m² 0 m² 0 m² 0 m² 0 m² 0 m² 0 m²
7,200 m² 7,200 m² 14,400 m² 14,400 m² 14,400 m² 14,400 m² 14,400 m²
0 m² 0 m² 0 m² 0 m² 0 m² 0 m² 0 m²
209,312 m² 214,525 m² 238,883 m² 255,927 m² 252,147 m² 257,367 m² 257,063 m²

3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08


35,450 m² 35,450 m² 35,450 m² 35,450 m² 35,450 m² 35,450 m² 35,219 m²
39,130 m² 39,130 m² 39,130 m² 39,130 m² 39,130 m² 39,188 m² 39,188 m²
69,326 m² 69,312 m² 69,312 m² 69,313 m² 69,653 m² 69,826 m² 69,829 m²
49,697 m² 53,578 m² 54,979 m² 54,967 m² 54,988 m² 54,999 m² 54,985 m²
39,276 m² 39,276 m² 39,276 m² 39,288 m² 39,293 m² 39,295 m² 39,453 m²
20,757 m² 20,757 m² 20,757 m² 20,757 m² 20,757 m² 20,806 m² 20,806 m²
22,067 m² 22,067 m² 22,067 m² 22,068 m² 22,068 m² 22,068 m² 22,248 m²
39,310 m² 39,310 m² 39,310 m² 39,310 m² 39,310 m² 39,310 m² 39,310 m²
38,945 m² 38,791 m² 38,792 m² 41,389 m² 41,393 m² 41,397 m² 41,404 m²
0 m² 0 m² 15,545 m² 15,545 m² 15,545 m² 15,545 m² 15,540 m²
0 m² 0 m² 0 m² 0 m² 0 m² 0 m² 0 m²
0 m² 0 m² 0 m² 0 m² 0 m² 0 m² 0 m²
0 m² 0 m² 0 m² 0 m² 0 m² 0 m² 0 m²
353,959 m² 357,671 m² 374,618 m² 377,217 m² 377,588 m² 377,884 m² 377,981 m²

3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08


28,360 m² 28,360 m² 28,360 m² 28,360 m² 28,360 m² 28,360 m² 28,175 m²
21,979 m² 21,979 m² 29,805 m² 29,805 m² 29,805 m² 29,850 m² 29,850 m²
35,404 m² 35,397 m² 35,397 m² 35,398 m² 35,571 m² 35,659 m² 35,661 m²
25,697 m² 30,158 m² 30,946 m² 30,940 m² 30,952 m² 36,180 m² 36,170 m²
23,559 m² 23,559 m² 23,559 m² 23,566 m² 23,569 m² 23,568 m² 23,662 m²
9,341 m² 9,341 m² 18,681 m² 18,681 m² 18,681 m² 18,725 m² 18,725 m²
11,034 m² 11,034 m² 11,034 m² 11,034 m² 11,034 m² 11,034 m² 11,124 m²
11,793 m² 11,793 m² 11,793 m² 11,793 m² 11,793 m² 11,793 m² 11,793 m²
35,051 m² 34,912 m² 34,913 m² 37,250 m² 34,770 m² 34,774 m² 34,779 m²
0 m² 0 m² 0 m² 13,028 m² 13,028 m² 13,028 m² 13,023 m²
0 m² 0 m² 0 m² 0 m² 0 m² 0 m² 0 m²
0 m² 0 m² 0 m² 0 m² 0 m² 0 m² 0 m²
0 m² 0 m² 0 m² 0 m² 0 m² 0 m² 0 m²
202,217 m² 206,532 m² 224,488 m² 239,855 m² 237,563 m² 242,970 m² 242,963 m²

3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08


96.10% 96.46% 96.34% 94.90% 93.89% 92.56% 94.66%
98.56% 99.55% 99.50% 98.82% 98.78% 98.35% 97.88%
97.98% 97.43% 97.33% 97.66% 97.55% 95.59% 97.47%
92.94% 99.17% 99.82% 99.28% 99.19% 99.21% 99.65%
94.01% 93.81% 97.03% 98.49% 98.27% 98.22% 97.61%
95.10% 94.85% 93.77% 94.90% 95.89% 97.07% 97.40%
98.73% 98.44% 97.53% 98.89% 99.57% 99.57% 99.57%
94.58% 94.26% 94.34% 94.34% 94.34% 94.34% 97.73%
97.93% 98.81% 98.22% 98.13% 97.92% 98.07% 98.79%
0.00% 0.00% 0.00% 99.47% 99.47% 98.77% 98.85%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
96.2% 97.2% 97.4% 97.6% 97.5% 97.0% 97.9%

* These percentages do not include Shopping Santa Úrsula, BarraShoppingSul, S


Jun-08 Sep-08 Dec-08 Jan-09 Jun-09 Sep-09 Dec-09
2Q08 3Q08 4Q08 1Q09 2Q09 3Q9 4Q9
35,105 m² 35,022 m² 36,895 m² 36,895 m² 36,899 m² 36,899 m² 36,899 m²
39,188 m² 39,188 m² 46,221 m² 46,221 m² 46,221 m² 46,846 m² 46,846 m²
69,812 m² 69,775 m² 69,501 m² 69,503 m² 69,320 m² 69,317 m² 69,318 m²
54,958 m² 54,958 m² 54,988 m² 54,988 m² 54,988 m² 54,988 m² 55,085 m²
39,775 m² 39,775 m² 43,210 m² 43,178 m² 43,178 m² 43,215 m² 51,512 m²
20,808 m² 20,809 m² 20,809 m² 21,360 m² 21,360 m² 21,360 m² 21,360 m²
22,068 m² 22,068 m² 22,068 m² 22,068 m² 22,068 m² 22,269 m² 22,269 m²
39,310 m² 39,310 m² 39,310 m² 39,310 m² 39,309 m² 50,972 m² 50,972 m²
41,411 m² 41,409 m² 42,968 m² 42,968 m² 42,975 m² 42,978 m² 42,986 m²
15,537 m² 16,172 m² 16,172 m² 16,172 m² 16,319 m² 16,319 m² 16,319 m²
24,043 m² 24,043 m² 24,043 m² 24,043 m² 24,043 m² 24,043 m² 24,043 m²
14,400 m² 14,400 m² 68,187 m² 68,187 m² 68,192 m² 68,041 m² 68,041 m²
0 m² 0 m² 0 m² 0 m² 0 m² 0 m² 28,091 m²
416,416 m² 416,928 m² 484,373 m² 484,894 m² 484,873 m² 497,248 m² 533,741 m²

2Q08 3Q08 4Q08 1Q09 2Q09 3Q9 4Q9


80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0%
76.2% 76.2% 76.2% 76.2% 76.2% 76.2% 76.2%
51.1% 51.1% 51.1% 51.1% 51.1% 51.1% 51.1%
65.8% 65.8% 65.8% 65.8% 65.8% 65.8% 65.8%
59.9% 59.9% 59.1% 59.1% 59.1% 59.1% 59.6%
90.0% 90.0% 90.0% 90.0% 90.0% 90.0% 90.0%
50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0%
30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
84.0% 84.0% 84.0% 84.0% 84.0% 84.0% 84.0%
83.8% 83.8% 83.8% 83.8% 83.8% 80.9% 80.9%
37.5% 37.5% 37.5% 37.5% 37.5% 37.5% 37.5%
100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 30.0%
64.0% 64.0% 68.2% 68.2% 68.2% 67.2% 65.2%

2Q08 3Q08 4Q08 1Q09 2Q09 3Q9 4Q9


28,084 m² 28,018 m² 29,516 m² 29,516 m² 29,519 m² 29,519 m² 29,519 m²
29,850 m² 29,850 m² 35,207 m² 35,207 m² 35,207 m² 35,682 m² 35,682 m²
35,652 m² 35,633 m² 35,494 m² 35,495 m² 35,401 m² 35,400 m² 35,400 m²
36,142 m² 36,142 m² 36,161 m² 36,161 m² 36,161 m² 36,161 m² 36,225 m²
23,808 m² 23,808 m² 25,526 m² 25,507 m² 25,507 m² 25,528 m² 30,717 m²
18,728 m² 18,728 m² 18,728 m² 19,224 m² 19,224 m² 19,224 m² 19,224 m²
11,034 m² 11,034 m² 11,034 m² 11,034 m² 11,034 m² 11,135 m² 11,135 m²
11,793 m² 11,793 m² 11,793 m² 11,793 m² 11,793 m² 15,292 m² 15,292 m²
34,785 m² 34,783 m² 36,093 m² 36,093 m² 36,099 m² 36,101 m² 36,108 m²
13,021 m² 13,553 m² 13,553 m² 13,553 m² 13,677 m² 13,198 m² 13,198 m²
9,016 m² 9,016 m² 9,016 m² 9,016 m² 9,016 m² 9,016 m² 9,016 m²
14,400 m² 14,400 m² 68,187 m² 68,187 m² 68,192 m² 68,041 m² 68,041 m²
0 m² 0 m² 0 m² 0 m² 0 m² 0 m² 8,427 m²
266,314 m² 266,759 m² 330,308 m² 330,786 m² 330,830 m² 334,298 m² 347,985 m²

2Q08 3Q08 4Q08 1Q09 2Q09 3Q9 4Q9


35,004 m² 35,004 m² 36,912 m² 36,895 m² 36,898 m² 36,899 m² 36,899 m²
39,188 m² 39,188 m² 41,530 m² 46,221 m² 46,221 m² 46,626 m² 46,846 m²
69,812 m² 69,787 m² 69,482 m² 69,503 m² 69,377 m² 69,322 m² 69,318 m²
54,958 m² 54,958 m² 54,988 m² 54,988 m² 54,988 m² 54,988 m² 55,085 m²
39,775 m² 39,775 m² 42,910 m² 43,189 m² 43,178 m² 43,207 m² 51,531 m²
20,808 m² 20,809 m² 20,809 m² 21,344 m² 21,360 m² 21,360 m² 21,360 m²
22,068 m² 22,068 m² 22,068 m² 22,068 m² 22,068 m² 22,269 m² 22,269 m²
39,310 m² 39,310 m² 39,310 m² 39,310 m² 39,310 m² 48,667 m² 50,972 m²
41,410 m² 41,408 m² 41,928 m² 42,968 m² 42,970 m² 42,978 m² 42,986 m²
15,537 m² 16,172 m² 16,172 m² 16,172 m² 16,319 m² 16,319 m² 16,319 m²
16,029 m² 24,043 m² 24,043 m² 24,043 m² 24,043 m² 24,043 m² 24,043 m²
0 m² 0 m² 50,258 m² 68,187 m² 68,192 m² 68,089 m² 68,089 m²
0 m² 0 m² 0 m² 0 m² 0 m² 0 m² 17,736 m²
393,900 m² 402,522 m² 460,410 m² 484,888 m² 484,925 m² 494,769 m² 523,453 m²

2Q08 3Q08 4Q08 1Q09 2Q09 3Q9 4Q9


28,004 m² 28,003 m² 29,530 m² 29,516 m² 29,518 m² 29,519 m² 29,519 m²
29,850 m² 29,850 m² 31,633 m² 35,207 m² 35,207 m² 35,515 m² 35,682 m²
35,652 m² 35,640 m² 35,484 m² 35,495 m² 35,431 m² 35,403 m² 35,400 m²
36,142 m² 36,142 m² 36,161 m² 36,161 m² 36,161 m² 36,161 m² 36,225 m²
23,808 m² 23,808 m² 25,348 m² 25,513 m² 25,510 m² 25,523 m² 30,728 m²
18,728 m² 18,728 m² 18,728 m² 19,210 m² 19,224 m² 19,224 m² 19,224 m²
11,034 m² 11,034 m² 11,034 m² 11,034 m² 11,034 m² 11,135 m² 11,135 m²
11,793 m² 11,793 m² 11,793 m² 11,793 m² 11,793 m² 14,600 m² 15,292 m²
34,785 m² 34,783 m² 35,220 m² 36,093 m² 36,095 m² 36,102 m² 36,108 m²
13,021 m² 13,553 m² 13,553 m² 13,553 m² 13,677 m² 13,198 m² 13,198 m²
6,011 m² 9,016 m² 9,016 m² 9,016 m² 9,016 m² 9,016 m² 9,016 m²
0 m² 0 m² 50,258 m² 68,187 m² 68,192 m² 68,089 m² 68,089 m²
0 m² 0 m² 0 m² 0 m² 0 m² 0 m² 5,321 m²
248,827 m² 252,350 m² 307,759 m² 330,778 m² 330,858 m² 333,486 m² 344,938 m²

2Q08 3Q08 4Q08 1Q09 2Q09 3Q9 4Q9


95.44% 95.76% 97.23% 99.13% 99.3% 99.4% 99.3%
98.52% 98.74% 97.38% 96.79% 96.8% 96.4% 97.4%
97.33% 97.59% 98.95% 98.05% 99.0% 99.4% 99.3%
99.55% 99.42% 99.42% 99.64% 100.0% 99.2% 99.4%
97.96% 97.07% 96.03% 96.91% 97.6% 97.3% 99.5%
97.67% 96.92% 97.72% 99.10% 99.5% 99.8% 99.5%
99.57% 98.42% 98.17% 97.55% 97.9% 99.8% 99.6%
99.42% 99.62% 99.10% 98.63% 98.8% 96.9% 99.4%
98.72% 98.51% 99.18% 99.11% 99.2% 98.7% 98.6%
98.75% 98.52% 99.06% 98.77% 99.5% 99.4% 99.6%
87.07% 82.39% 72.45% 69.81% 67.9% 65.9% 65.8%
0.00% 0.00% 94.12% 93.87% 94.0% 94.0% 98.0%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 87.8%
98.2% 98.1% 98.3% 98.3% 98.7% 98.4% 99.1%

Úrsula, BarraShoppingSul, Shopping VilaOlímpia and expansions opened in 4Q08


38777 38869 38961
Profit & Loss 1Q06 2Q06 3Q06
Leases 29,557 47,994 44,269
Services 10,987 13,740 11,657
Key Money 2,069 3,402 3,353
Parking 1,690 2,362 2,288
Sales of properties 5,718 2,062 5,206
Other 63 2 -
Gross Revenue 50,084 69,562 66,773
Taxes and contributions on sales and services (4,352) (5,469) (5,461)
Net Revenue 45,732 64,093 61,313
Headquarters (15,995) (17,316) (19,199)
Stock-option-based remuneration expenses* - - -
Non-recurring expenses (IPO) (4,967) (5,337) (3,548)
Shopping Malls (4,286) (9,207) (7,551)
Projects - - -
Parking - - -
Cost of properties sold (2,936) (1,366) (2,738)
Equity in earnings of afiliates (575) 1,278 (1,405)
Amortization (5,783) (21,375) (28,694)
Financial Revenue 3,443 2,725 2,781
Financial Expenses (2,662) (5,248) (2,057)
Non-recurring financial expenses (5,968) (24,562) -
Depreciation (3,794) (4,582) (4,170)
Other Operating income/expenses (891) 260 613
Operational Income 1,317 (20,636) (4,655)
Non-Operating Income 571 1,124 (744)
Income before taxes and social contribution 1,888 (19,512) (5,399)
Tax Income and Social Contribution (5,291) (5,909) (1,816)
Diferred income and social contribution taxes 2,627 (3,453) -
Minority interest (4,281) (1,746) (1,140)
Net Income (5,056) (30,620) (8,355)

EBITDA 10,684 8,967 26,741


Adjusted EBITDA 21,620 38,866 30,289
NOI 26,961 41,149 39,006
Adjusted FFO 15,457 25,236 28,057
Adjusted Net Income 11,663 20,654 23,887

Efeito ABL
Total GLA 368,220 m² 368,432 m² 368,269 m²
Own GLA 209,376 m² 209,484 m² 209,312 m²
Total GLA (avg.) 354,013 m² 353,948 m² 353,959 m²
Own GLA (avg.) 202,287 m² 202,241 m² 202,217 m²
Adjusted Total GLA (avg.) 354,013 m² 353,948 m² 353,959 m²
Adjusted Own GLA (avg.) 202,287 m² 202,241 m² 202,217 m²

BarraShoppingSul (BIG) 0 m² 0 m² 0 m²

Multiplan interest
BarraShoppingSul (BIG) 0 m² 0 m² 0 m²
RibeirãoShopping (additional 20%) 0 m² 0 m² 0 m²
Pátio Savassi 0 m² 0 m² 0 m²

Considerations:
In order to calculate the índex R$/sq.m
1. Do not consider the BIG´s GLA
2. Do not consider the additional interest in RibeirãoShopping (20%) – dec/2006
3. Do not consider Patio Savassi Shopping Center´ GLA

The full amount of the stock option compensation line for the year 2008 was recorded into 4Q08 figures. The full 20

This Line was adjusted so it could be compared to 2Q09 results. This adjustment results from the application of CPC

Numbers were adjusted in order to be adpated to the new project line


39052 39142 39234 39326 39417 39508
4Q06 1Q07 2Q07 3Q07 4Q07 1Q08
71,259 52,453 54,368 55,572 77,001 60,564
8,360 10,873 12,116 12,942 16,401 11,254
4,782 4,567 4,859 4,385 5,091 4,764
3,082 4,025 9,723 11,637 13,333 12,724
2,585 5,175 5,188 8,545 154 -
- 0 - (0) 384 33
90,068 77,093 86,254 93,081 112,364 89,339
(8,236) (6,729) (7,490) (7,986) (10,194) (8,447)
81,833 70,364 78,764 85,095 102,170 80,892
(15,014) (9,666) (15,620) (13,069) (17,551) (11,671)
- - - - - (318)
(6,229) - (1,361) (11,983) - -
(11,826) (8,942) (10,309) (13,583) (14,032) (14,633)
- - - - - (86)
- (1,463) (5,061) (6,209) (6,437) (6,500)
(1,658) (2,998) (2,971) (5,012) (1,638) -
(826) 1,577 596 1,660 4,194 2,603
(27,594) (28,177) (28,177) (30,022) (31,884) (31,428)
2,570 1,367 1,697 8,835 11,570 15,622
(4,630) (5,745) (6,139) (5,771) (4,595) (7,932)
- - - (23,700) - -
(4,965) (5,172) (5,285) (5,993) (7,263) (7,584)
522 670 88 53 434 623
12,182 11,816 6,222 (19,698) 34,968 19,587
(2) 1,005 (22) 0 74 -
12,180 12,821 6,200 (19,698) 35,042 19,587
(603) (2,297) 616 842 (975) (770)
1,150 (194) (120) (6,412) (4,504) (5,710)
(886) 26 (21) (81) (88) (145)
11,841 10,356 6,675 (25,348) 29,474 12,962

46,800 50,547 44,103 13,253 67,213 50,910


53,029 50,547 45,464 48,936 67,213 50,910
62,516 46,073 48,721 47,418 69,865 52,155
50,629 43,704 41,498 46,350 68,621 57,685
45,664 38,532 36,214 40,357 61,358 50,101

373,480 m² 373,464 m² 393,615 m² 392,279 m² 392,279 m² 392,015 m²


214,525 m² 238,883 m² 255,927 m² 252,147 m² 257,367 m² 257,063 m²
357,671 m² 374,618 m² 377,217 m² 377,588 m² 377,884 m² 377,981 m²
206,532 m² 224,488 m² 239,855 m² 237,563 m² 242,970 m² 242,963 m²
357,671 m² 374,618 m² 377,217 m² 377,588 m² 377,884 m² 377,981 m²
206,532 m² 216,662 m² 219,001 m² 229,738 m² 235,133 m² 235,126 m²

0 m² 0 m² 0 m² 0 m² 0 m² 0 m²

0 m² 0 m² 0 m² 0 m² 0 m² 0 m²
0 m² 7,826 m² 7,826 m² 7,826 m² 7,838 m² 7,838 m²
0 m² 0 m² 13,028 m² 0 m² 0 m² 0 m²
d into 4Q08 figures. The full 2008 expense of R$1.3 million was equally divided by the four quarters of the year, for comparison

lts from the application of CPC pronouncement No. 2, as required by CVM Rule No. 534 of January 29, 2008.
39600
2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09
68,772 67,994 97,923 79,389 81,498 81,759 123,533
21,716 18,604 14,521 15,389 18,107 22,005 17,870
8,717 3,606 4,155 5,168 6,034 8,108 7,680
14,779 18,989 21,016 17,700 23,106 23,753 30,771
- 2,268 513 427 882 3,458 7,103
0 - (0) - 89 603 307
113,984 111,461 138,129 118,074 129,717 139,686 187,264
(9,878) (10,363) (12,995) (9,972) (12,348) (13,165) (16,149)
104,107 101,098 125,134 108,102 117,369 126,521 171,114
(27,539) (20,119) (19,791) (18,479) (25,064) (18,694) (25,946)
(318) (318) (318) (510) (807) (1,051) (1,048)
- - - - - - -
(11,972) (11,132) (11,979) (15,834) (13,374) (16,957) (15,846)
(644) (2,279) (4,322) (1,088) (1,554) (4,415) (12,214)
(6,600) (7,828) (8,992) (7,160) (10,299) (9,893) (13,020)
- (884) (267) (233) (481) (3,298) (4,527)
2,120 (1,640) 526 (6,198) (3,354) (5,903) (4,575)
(31,477) (31,337) (30,469) - - - 0
9,503 6,863 2,311 4,362 5,063 6,884 19,965
(9,468) (5,117) (8,237) (9,745) (10,707) (9,753) (11,183)
- - - - 0
(8,248) (7,732) (7,846) (9,657) (9,974) (9,680) (10,323)
(54) 221 172 1,263 1,094 19,822 259
19,410 19,796 35,922 44,823 47,911 73,583 92,657
- (65)
19,410 19,731 35,922 44,823 47,911 73,583 92,657
(723) (4,086) (7,221) (1,286) (2,254) (2,291) (9,627)
(5,775) (6,359) 10,764 784 284 (22,672) (50,473)
(172) (201) (248) (227) (228) 89 377
12,739 9,086 39,217 44,094 45,712 48,709 32,934

59,100 57,054 80,163 59,863 63,529 86,132 94,198


59,100 57,054 80,163 59,863 63,529 86,132 94,198
64,979 68,023 97,968 74,096 80,931 78,662 125,438
58,239 48,155 66,768 52,967 55,402 81,061 93,730
49,991 40,423 58,922 43,310 45,428 71,381 83,407

416,416 m² 416,928 m² 484,373 m² 484,894 m² 484,873 m² 497,248 m² 533,741 m²


266,314 m² 266,759 m² 330,308 m² 330,786 m² 330,833 m² 334,298 m² 347,985 m²
393,900 m² 402,522 m² 460,410 m² 484,888 m² 484,925 m² 494,769 m² 523,453 m²
248,827 m² 252,350 m² 307,759 m² 330,778 m² 330,858 m² 333,486 m² 344,938 m²
393,900 m² 402,522 m² 446,010 m² 470,488 m² 470,525 m² 480,369 m² 509,053 m²
248,827 m² 252,350 m² 293,359 m² 316,378 m² 316,458 m² 319,086 m² 330,538 m²

0 m² 0 m² 14,400 m² 14,400 m² 14,400 m² 14,400 m² 14,400 m²

0 m² 0 m² 14,400 m² 14,400 m² 14,400 m² 14,400 m² 14,400 m²


0 m² 0 m² 0 m² 0 m² 0 m² 0 m² 0 m²
0 m² 0 m² 0 m² 0 m² 0 m² 0 m² 0 m²
quarters of the year, for comparison

anuary 29, 2008.


Balance Sheet Mar-06 Jun-06

ASSETS 1Q06 2Q06

Current Assets
Cash and cash equivalent 26,739 232,631
Accounts Receivable 38,134 40,421
Loans Receivable and Prepaid Acc. ST 2,491 2,651
Sundry loans and advances - -
Credit with related Parties 8,959 6,046
Recoverable taxes and contributions 21,632 10,786
Deffered income and social contribution taxes - -
Other 3,218 89
Total Current Assets 101,173 292,624

Non Current Assets


Receivables with related Parties 4,978 1,103
Accounts Receivable - -
Loans Receivable and Prepaid Acc. LT 990 941
Lands and properties hel for sale 2,767 3,477
Sundry loans and advances 2,533 5,471
Legal Deposit 13,852 14,245
Deffered income and social contribution taxes 11,928 6,469
Other 502 45
Investments 343,266 176,344
Property and equipment 580,756 546,760
Intangible - -
Deffered charges 10,245 377,528
Total Non Current Assets 971,817 1,132,383

Total Assets 1,072,989 1,425,007

LIABILITIES 1Q06 2Q06

Current Liabilities
Loans and financing 632,406 14,075
Stock Aquisitions 6,896 -
Accounts payable 3,446 5,908
Property acquisition obligations 17,937 16,744
Taxes and contributions payable 30,235 13,217
Taxes paid in installments 1,403 1,775
Proposed dividends 3,499 2,166
Deferred incomes* - -
Payables to related parties - -
Debentures - -
Clients antecipation 4,088 5,323
Other 1,479 1,439
Total Current Liabilities 701,390 60,647

Non Current Liabilities


Loans and financing 38,691 36,990
Debentures
Stock aquisitions 10,295 5,382
Debt with related Parties 100 272,295
Property acquisition obligations - -
Taxes paid in installments 2,238 2,215
Provision for contingencies 18,614 18,329
Deferred incomes* 58,047 54,977
Total Non Current Liabilities 127,985 390,189

Minority Interest 87,791 503

Shareholder's Equity
Capital 160,296 264,419
Capital Reserves - 745,877
Income Reserve - -
UTD Income (4,472) (36,629)
Share issue costs - -
Equity Valuation adjustment - -
Shares in treasure department - -
Total Shareholder's equity 155,823 973,667

Total Liabilities and Shareholder's Equity 1,072,989 1,425,007

* There was na account was reclassification where Expected income was turned into Deferred Incomes
Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07

3Q06 4Q06 1Q07 2Q07 3Q07 4Q07

59,841 10,598 11,268 12,039 475,243 416,445


36,072 52,593 52,000 45,996 58,830 80,220
2,709 1,353 1,113 897 817 -
5,026 3,002 - - - 3,087
- 1,209 5,116 41,850 3,884 -
4,986 5,224 5,846 6,837 8,210 11,384
- - - - - 16,840
108 369 230 152 - 172
108,742 74,348 75,574 107,771 546,983 528,148

1,601 1,123 1,145 1,192 - 1,201


- 7,096 - 355 210 16,106
941 680 544 10,995 12,088 -
4,198 26,728 39,152 74,719 76,032 76,810
4,593 3,564 2,294 3,062 2,915 1,569
14,276 14,276 14,335 14,222 14,404 -
6,469 7,165 6,971 193,963 187,815 166,208
45 46 44 44 840 1,431
1,948 41,122 42,471 42,804 153,784 48,561
557,373 612,394 641,303 644,750 711,650 916,278
- 480,069 - - - 427,793
524,123 14,086 463,819 441,349 416,904 26,311
1,115,567 1,208,349 1,212,080 1,427,454 1,576,642 1,682,267

1,224,309 1,282,697 1,287,653 1,535,225 2,123,625 2,210,415

3Q06 4Q06 1Q07 2Q07 3Q07 4Q07

9,655 23,592 13,120 27,212 17,532 16,333


201 47,975 45,320 44,114 48,994 46,996
7,973 5,320 4,652 5,955 9,471 8,934
61,063 29,086 37,710 53,008 44,874 44,775
6,763 6,676 6,886 6,396 6,564 9,115
1,524 1,014 518 319 253 263
551 525 496 430 211 -
- - - - - -
(201) 2,644 2,228 858 3 1,488
- - - - - -
- 4,103 1,555 - 340 -
1,814 375 666 664 2,634 6,128
89,343 121,310 113,150 138,955 130,876 134,034

40,068 34,434 32,152 51,829 25,260 21,969

- 45,991 46,718 47,211 - -


77 - - (0) 0 0
50,435 25,702 22,068 25,644 21,137 77,510
1,912 1,927 1,881 1,849 1,807 1,755
18,329 17,231 16,873 16,488 17,271 3,363
53,362 57,177 64,894 70,023 81,194 96,381
164,182 182,462 184,585 213,044 146,668 200,978

79 83 906 1,236 1,280 1,317

264,419 264,419 264,419 264,419 952,747 952,747


745,877 745,877 745,877 932,425 932,425 932,425
- - - - - -
(39,591) (31,454) (21,284) (14,854) (40,371) (11,086)
- - - - - -
- - - - - -
- - - - - -
970,706 978,842 989,012 1,181,990 1,844,801 1,874,086

1,224,309 1,282,697 1,287,653 1,535,225 2,123,625 2,210,415

s turned into Deferred Incomes


Mar-08 Jun-08 Sep-08 Dec-08 Jan-09 Jun-09

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09

362,596 263,893 114,716 167,585 187,213 187,337


64,620 77,441 75,246 99,529 91,334 88,674
- - - - - -
28,108 2,839 5,470 18,496 16,450 19,831
- - - - -
15,444 16,882 20,402 20,198 21,090 22,179
28,506 28,506 28,506 38,704 39,492 39,308
664 508 887 - 965 5,161
499,938 390,069 245,226 344,512 356,544 362,490

1,300 1,409 1,557 1,687 1,698 1,722


17,806 12,177 19,872 17,762 18,037 17,457
- - - - -
77,036 116,032 116,359 129,457 131,200 132,210
1,605 1,554 4,650 10,328 19,773 10,968
- - - - - -
149,094 143,057 136,698 137,263 137,259 137,726
3,812 1,460 1,868 3,029 3,529 3,422
11,613 20,250 18,711 22,847 17,603 16,053
1,087,241 1,213,178 1,373,033 1,573,204 1,630,588 1,711,326
396,639 366,636 335,866 309,890 310,529 310,035
34,401 35,598 41,987 32,757 31,648 30,588
1,780,547 1,911,352 2,050,601 2,238,224 2,301,865 2,371,507

2,280,485 2,301,420 2,295,827 2,582,737 2,658,409 2,733,997

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09

15,846 15,726 15,704 107,360 112,996 29,678


47,337 53,041 - - - -
8,115 19,653 45,898 55,052 60,108 61,126
58,003 52,873 46,583 45,222 43,622 44,269
8,035 8,652 11,474 25,326 14,189 21,406
259 262 264 267 271 273
- - - 20,084 20,084 -
- - - 21,265 21,602 26,528
142 142 190 23,780 54,535 55,312
- - - - - 321
- - 3,538 8,600 11,818 13,083
8,334 2,426 10,849 1,510 1,567 1,439
146,071 152,775 134,500 308,465 340,791 253,435

18,028 13,584 9,978 128,912 126,110 154,985


100,000
- - - - - -
- - - - - -
113,277 106,020 98,367 90,049 81,609 72,731
1,718 1,671 1,623 1,574 1,522 1,464
3,388 4,728 4,239 4,571 4,552 4,472
110,183 110,506 121,479 105,035 117,186 114,696
246,594 236,510 235,685 330,140 330,979 448,348

1,311 12,915 12,914 12,953 13,077 13,019

952,747 952,747 952,747 952,747 952,747 952,747


932,425 932,425 932,425 958,276 958,786 959,593
- - - 22,084 22,473 21,673
1,337 17,443 27,556 - 44,180 89,806
- - - - - -
- (3,394) - - - -
- - - (1,928) (4,624) (4,624)
1,886,509 1,899,221 1,912,728 1,931,179 1,973,562 2,019,195

2,280,485 2,301,420 2,295,827 2,582,737 2,658,409 2,733,997


Sep-09 Dec-09

3Q09 4Q09

796,794 827,967
88,549 115,117
- -
35,785 30,985
- -
34,563 38,744
60,382 68,897
3,268 3,483
1,019,340 1,085,193

2,120 74
17,781 18,028

142,277 141,268
12,782 9,908
- -
93,980 35,256
5,865 5,633
14,864 15,382
1,875,904 2,022,087
309,729 309,475
29,650 28,642
2,504,955 2,585,753

3,524,295 3,670,946

3Q09 4Q09

43,757 41,660
16
71,333 66,762
53,398 62,122
17,591 24,904
276 279
40,521
39,642 54,279
72,921 92,198
2,888 386
13,346 9,559
1,861 1,464
317,013 394,150

135,660 130,035
100,000 100,000
- -
- -
122,465 127,481
1,415 1,359
4,945 5,511
97,457 77,698
461,943 442,084

12,679 12,073

1,641,747 1,745,097
960,644 961,691
21,292 152,138
138,515 -
(24,914) (31,663)
- -
(4,624) (4,624)
2,732,660 2,822,639

3,524,295 3,670,946
1,000

Total Sales (Shopping 100%)


Operating Shoppings Portfolio 1Q06 2Q06 3Q06 4Q06
BHShopping 88,748 101,907 104,145 144,591
RibeirãoShopping 51,481 58,896 62,450 83,487
BarraShopping 180,263 194,858 201,381 272,159
MorumbiShopping 122,346 149,513 142,051 218,814
ParkShopping 88,182 103,481 103,360 143,957
DiamondMall 37,632 43,502 46,789 61,524
New York City Center 30,874 30,110 29,853 37,222
Shopping AnáliaFranco 69,739 80,317 80,322 110,180
ParkShoppingBarigüi 58,410 72,343 74,962 101,499
Pátio Savassi - - - -
Shopping SantaÚrsula - - - -
BarraShoppingSul - - - -
Shopping VilaOlímpia - - - -
Portfolio Total 727,675 834,928 845,313 1,173,432

Rent Revenue (Base Rent + Overage Rent + Merchandising)


Operating Shoppings Portfolio 1Q06 2Q06 3Q06 4Q06
Rent Revenue 29,557 47,994 44,269 66,121
BHShopping 5,950 9,076 7,848 11,315
RibeirãoShopping 1,612 3,313 3,054 4,218
BarraShopping 7,170 11,333 10,369 15,249
MorumbiShopping 4,881 9,331 8,635 13,466
ParkShopping 2,459 4,199 4,142 5,700
DiamondMall 1,883 2,323 2,146 4,450
New York City Center 526 1,116 1,095 1,363
Shopping AnáliaFranco 2,332 2,361 2,432 3,268
ParkShoppingBarigüi 2,725 4,922 4,540 7,085
Pátio Savassi - - - -
Shopping SantaÚrsula - - - -
BarraShoppingSul 20 20 7 7
Shopping VilaOlímpia - - - -
Base Rent 24,695 38,730 37,971 57,246
BHShopping 4,954 7,326 6,776 9,899
RibeirãoShopping 1,241 2,587 2,601 3,646
BarraShopping 6,435 9,617 9,259 13,690
MorumbiShopping 3,817 7,580 7,307 11,710
ParkShopping 1,928 3,324 3,355 4,444
DiamondMall 1,694 1,946 1,889 4,164
New York City Center 410 972 942 1,171
Shopping AnáliaFranco 2,018 1,833 2,037 2,659
ParkShoppingBarigüi 2,177 3,524 3,799 5,857
Pátio Savassi - - - -
Shopping SantaÚrsula - - - -
BarraShoppingSul 20 20 7 7
Shopping VilaOlímpia - - -
Overage Rent 955 1,305 1,393 2,246
BHShopping 123 132 158 216
RibeirãoShopping 99 79 84 135
BarraShopping 216 207 201 337
MorumbiShopping 143 127 137 178
ParkShopping 94 148 303 482
DiamondMall 49 80 95 101
New York City Center 31 11 11 48
Shopping AnáliaFranco 68 63 99 194
ParkShoppingBarigüi 132 457 304 555
Pátio Savassi - - - -
Shopping SantaÚrsula - - - -
BarraShoppingSul - - - -
Shopping VilaOlímpia - - - -
Merchandising 3,907 7,960 4,905 6,629
BHShopping 872 1,618 914 1,200
RibeirãoShopping 271 647 368 438
BarraShopping 518 1,509 909 1,222
MorumbiShopping 921 1,624 1,191 1,578
ParkShopping 437 727 484 773
DiamondMall 139 297 163 184
New York City Center 85 133 142 145
Shopping AnáliaFranco 246 465 296 416
ParkShoppingBarigüi 416 940 438 673
Pátio Savassi - - - -
Shopping SantaÚrsula - - - -
BarraShoppingSul (BIG) - - - -
Shopping VilaOlímpia - - - -
* + Increase in Accounts Receivables R$ 5.1M

Parking Revenue
Operating Shoppings Portfolio 1Q06 2Q06 3Q06 4Q06
BHShopping 234 274 320 426
RibeirãoShopping - - - -
BarraShopping 611 1,029 887 936
MorumbiShopping 450 686 666 996
ParkShopping - - - -
DiamondMall 184 124 153 356
New York City Center 211 249 262 368
Shopping AnáliaFranco - - - -
ParkShoppingBarigüi - - - -
Pátio Savassi - - - -
Shopping SantaÚrsula - - - -
BarraShoppingSul - - - -
Shopping VilaOlímpia - - - -
Portfolio Total 1,690 2,362 2,287 3,082
1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08
104,442 115,314 120,742 158,431 119,872 132,726 137,235 179,402
63,288 71,688 73,836 101,202 76,149 84,662 86,871 115,527
200,991 213,214 219,210 293,169 224,292 231,668 242,282 323,019
158,471 190,460 181,729 251,570 183,552 214,998 216,411 283,649
101,315 114,852 118,335 157,705 115,046 124,180 129,997 183,735
46,655 51,961 57,011 75,238 59,966 68,916 70,547 88,001
34,153 30,526 31,927 38,104 35,691 32,409 33,132 39,875
78,595 95,561 92,943 125,801 93,862 105,943 103,858 136,013
76,732 88,159 91,996 117,584 93,077 106,383 102,374 130,004
- - 42,133 58,645 43,936 49,555 54,678 70,571
- - - - - 18,542 26,294 29,645
- - - - - - - 71,152
- - - - - - - -
864,642 971,737 1,029,860 1,377,449 1,045,442 1,169,981 1,203,680 1,650,592

1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08


52,453 54,368 55,571 77,001 60,564 68,772 67,994 97,923
8,335 8,690 8,508 11,217 8,554 9,294 9,242 12,841
3,265 3,535 3,520 4,652 3,696 5,861 5,562 7,512
11,817 11,877 11,840 15,264 12,435 13,236 13,137 17,734
11,600 11,555 11,457 17,420 14,499 15,957 15,464 21,600
4,244 4,469 4,433 5,954 4,455 4,925 5,148 7,109
4,585 4,762 4,832 6,519 5,097 5,762 5,794 7,382
1,187 1,186 1,266 1,427 1,268 1,378 1,264 1,563
2,600 2,812 2,830 3,685 2,924 3,258 3,074 4,085
4,813 5,474 5,214 7,275 4,851 5,742 5,566 7,783
- - 1,665 3,580 2,777 3,122 3,192 4,387
- - - - - 230 545 500
7 7 7 7 7 7 6 5,427
- - - - - - - -
45,393 45,187 46,896 64,128 51,991 54,548 56,478 82,769
7,376 7,249 7,301 9,455 7,310 7,232 7,941 10,955
2,850 2,901 2,937 3,758 3,091 4,607 4,460 6,232
10,495 10,232 10,502 13,559 11,080 11,169 11,579 15,749
9,644 9,706 9,701 14,216 12,472 12,434 12,825 17,653
3,497 3,472 3,474 4,569 3,608 3,790 3,977 5,713
4,102 4,017 4,155 5,652 4,410 4,637 4,923 6,417
1,021 1,048 1,077 1,156 1,097 1,169 1,100 1,336
2,192 2,167 2,200 2,902 2,390 2,478 2,498 3,331
4,209 4,389 4,338 5,991 4,234 4,449 4,287 6,546
- - 1,205 2,864 2,292 2,375 2,439 3,315
- - - - - 202 443 401
7 7 7 7 7 7 6 5,122
- - - - - - - -
2,412 2,341 2,438 3,712 2,514 2,829 2,718 3,294
185 256 307 397 262 296 294 371
112 132 134 231 182 254 259 269
453 332 339 411 443 273 279 324
796 387 387 679 442 582 400 583
260 315 342 463 285 211 424 325
212 309 325 418 328 417 349 320
75 8 22 109 68 40 17 26
128 188 171 257 178 163 116 168
191 414 223 398 132 318 251 239
- - 188 348 197 270 317 462
- - - - - 5 13 13
- - - - - - - 193
- - - - - - - -
4,648 6,840 6,237 9,162 6,059 11,395 8,798 11,860
774 1,185 900 1,365 982 1,766 1,007 1,514
303 502 449 663 424 1,000 843 1,011
869 1,313 998 1,295 912 1,795 1,279 1,662
1,160 1,461 1,369 2,525 1,586 2,941 2,239 3,364
487 682 617 922 562 924 747 1,071
271 436 352 449 359 709 523 644
91 131 167 162 104 169 147 201
280 457 459 526 356 617 460 586
413 672 654 886 486 974 1,027 998
- - 271 368 288 478 437 610
- - - - - 23 89 86
- - - - - - - 113
- - - - - - - -

1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08


308 1,263 1,333 1,566 1,568 1,831 1,921 2,324
- - - - - - - -
831 3,070 4,081 4,535 4,321 4,412 4,654 5,215
2,255 4,048 3,933 4,621 3,943 4,039 5,195 5,606
- - - - - - - -
324 711 840 818 863 1,006 1,038 1,176
307 632 838 951 1,091 983 952 1,049
- - - - - 1,259 2,108 2,212
- - - - - 185 1,903 2,064
- - 612 842 938 1,064 1,218 1,352
- - - - - - - 19
- - - - - - - -
- - - - - - - -
4,025 9,723 11,637 13,333 12,724 14,779 18,989 21,016
1Q09 2Q09 3Q09 4Q09
133,842 146,076 148,605 206,681
88,991 95,818 93,305 134,032
235,403 259,564 280,378 372,359
204,535 241,384 231,348 325,821
135,676 151,657 149,990 220,702
64,670 76,245 77,816 113,241
33,246 31,288 33,050 41,955
97,928 114,810 121,863 189,277
101,228 111,459 104,175 148,529
52,637 59,241 60,264 81,432
21,051 19,526 18,068 25,177
92,006 100,549 96,983 135,406
- - - 29,236
1,261,212 1,407,614 1,415,845 2,023,848

1Q09 2Q09 3Q09 4Q09


79,390 81,498 81,759 117,533
10,239 10,086 10,519 13,237
6,216 6,342 6,264 8,373
14,127 13,930 14,204 20,309
16,157 16,946 16,530 22,841
5,515 5,864 6,062 9,798
5,620 6,331 6,276 8,392
1,326 1,206 1,213 1,555
3,128 3,262 3,777 5,167
5,810 6,200 5,796 8,306
3,398 3,640 3,617 4,674
446 405 327 409
7,408 7,287 7,176 11,244
- - - 3,227
69,272 69,916 69,306 100,438
9,058 9,011 9,110 11,373
5,234 5,404 5,334 7,067
12,765 12,355 12,271 18,124
14,151 14,353 13,974 18,868
4,580 4,732 4,677 7,969
4,984 5,415 5,449 7,237
1,081 1,049 1,020 1,341
2,701 2,761 3,279 4,489
4,938 5,133 4,799 6,917
2,906 2,861 2,884 3,613
296 264 216 252
6,578 6,577 6,294 9,998
- - - 3,191
1,948 2,837 3,058 4,781
168 196 233 506
162 194 145 248
301 319 617 353
282 511 446 924
288 325 502 733
148 398 325 501
79 16 22 45
64 141 103 225
110 198 151 344
221 397 389 599
5 2 0 2
121 140 126 282
- - - 19
8,170 8,746 9,395 12,314
1,013 878 1,176 1,358
820 744 785 1,059
1,062 1,255 1,315 1,833
1,724 2,082 2,110 3,049
648 807 884 1,096
488 518 502 655
166 141 171 169
364 360 395 453
762 870 846 1,044
272 382 345 462
144 139 111 155
708 570 756 963
- - - 17

1Q09 2Q09 3Q09 4Q09


2,040 2,155 2,090 2,615
- 761 1,509 2,015
4,065 5,897 5,333 5,923
4,582 5,903 5,770 6,718
- - - 1,770
1,082 1,071 1,191 1,486
1,073 1,244 1,102 1,340
1,488 2,346 2,219 2,816
2,000 1,714 1,717 2,191
1,326 1,196 1,261 1,844
- 185 222 285
45 635 1,338 1,639
- - - 127
17,700 23,106 23,754 30,771
Indicators
Financial (MTE %) 1Q06 2Q06 3Q06
Gross Revenue 50,084 69,562 66,773
Net Revenue 45,732 64,093 61,313
Headquarters 15,995 17,316 19,199
Rental Revenue 29,557 47,994 44,269
Rental Revenue/m² 146 R$/m² 237 R$/m² 219 R$/m²
Adjusted EBITDA 21,620 38,866 30,289
Adjusted EBITDA/m² 107 R$/m² 192 R$/m² 150 R$/m²
Adjusted EBITDA Margin 47.3% 60.6% 49.4%
NOI 26,961 41,149 39,006
NOI/sq.m 133 R$/m² 203 R$/m² 193 R$/m²
NOI Margin 86.3% 81.7% 83.8%
Adjusted FFO 15,457 25,236 28,057
Adjusted FFO/m² 76 R$/m² 125 R$/m² 139 R$/m²
Performance (100%) 1Q06 2Q06 3Q06
Total GLA 368,220 m² 368,432 m² 368,269 m²
Own GLA 209,376 m² 209,484 m² 209,312 m²
Adjusted Total GLA (avg.) 354,013 m² 353,948 m² 353,959 m²
Adjusted Own GLA (avg.) 202,287 m² 202,241 m² 202,217 m²
Total Sales 727,675 834,928 845,313
Total Sales/m² 2,056 R$/m² 2,359 R$/m² 2,388 R$/m²
Same Stores Sales/m² N/A N/A N/A
Same Stores Rent/m² N/A N/A N/A
Occupancy Costs 15.8% 14.9% 15.7%
Rent as Sales % 9.8% 8.6% 9.4%
Others as Sales % 6.0% 6.3% 6.2%
Turnover 1.0% 0.8% 0.9%
Occupancy Rate 95.2% 96.3% 96.2%
Delinquency 8.2% 6.9% 6.6%
Rent Loss 0.0% 0.0% 10.4%
4Q06 1Q07 2Q07 3Q07 4Q07
90,068 77,093 86,254 93,081 112,364
81,833 70,364 78,764 85,095 102,170
15,014 9,666 15,620 13,069 17,551
71,259 52,453 54,368 55,572 77,001
345 R$/m² 242 R$/m² 248 R$/m² 242 R$/m² 327 R$/m²
53,029 50,547 45,464 48,936 67,213
257 R$/m² 233 R$/m² 208 R$/m² 213 R$/m² 286 R$/m²
64.8% 71.8% 57.7% 57.5% 65.8%
62,516 46,073 48,721 47,418 69,865
303 R$/m² 213 R$/m² 222 R$/m² 206 R$/m² 297 R$/m²
84.1% 83.7% 82.5% 77.7% 83.3%
50,629 43,704 41,498 46,350 68,621
245 R$/m² 202 R$/m² 189 R$/m² 202 R$/m² 292 R$/m²
4Q06 1Q07 2Q07 3Q07 4Q07
373,480 m² 373,464 m² 393,615 m² 392,279 m² 392,279 m²
214,525 m² 238,883 m² 255,927 m² 252,147 m² 257,367 m²
357,671 m² 374,618 m² 377,217 m² 377,588 m² 377,884 m²
206,532 m² 216,662 m² 219,001 m² 229,738 m² 235,133 m²
1,173,432 864,642 971,737 1,029,860 1,377,449
3,281 R$/m² 2,308 R$/m² 2,576 R$/m² 2,727 R$/m² 3,645 R$/m²
N/A ▲13.8% ▲12.2% ▲14.4% ▲11.4%
N/A ▲9.4% ▲10.4% ▲10.6% ▲9.0%
13.2% 14.1% 15.9% 13.8% 13.4%
8.4% 9.2% 10.7% 9.2% 8.0%
4.9% 5.0% 5.2% 4.7% 5.4%
0.5% 0.8% 0.8% 1.9% 1.7%
97.2% 97.4% 97.6% 97.5% 97.0%
5.6% 6.6% 5.3% 4.5% 4.4%
6.2% 1.0% 0.5% 0.9% 0.4%
1Q08 2Q08 3Q08 4Q08 1Q09 2Q09
89,339 113,984 111,461 138,129 118,074 129,717
80,892 104,107 101,098 125,134 108,102 117,369
11,671 27,539 20,119 19,791 18,479 25,064
60,564 68,772 67,994 97,923 79,389 81,498
258 R$/m² 276 R$/m² 269 R$/m² 334 R$/m² 251 R$/m² 258 R$/m²
50,910 59,100 57,054 80,163 59,863 63,529
217 R$/m² 238 R$/m² 226 R$/m² 273 R$/m² 189 R$/m² 201 R$/m²
62.9% 56.8% 56.4% 64.1% 55.4% 54.1%
52,155 64,979 68,023 97,968 74,096 80,931
222 R$/m² 261 R$/m² 270 R$/m² 334 R$/m² 234 R$/m² 256 R$/m²
78.1% 84.4% 85.9% 89.1% 82.4% 85.8%
57,685 58,239 48,155 66,768 52,967 55,402
245 R$/m² 234 R$/m² 191 R$/m² 228 R$/m² 167 R$/m² 175 R$/m²
1Q08 2Q08 3Q08 4Q08 1Q09 2Q09
392,015 m² 416,416 m² 416,928 m² 484,373 m² 484,894 m² 484,873 m²
257,063 m² 266,314 m² 266,759 m² 330,308 m² 330,786 m² 330,833 m²
377,981 m² 393,900 m² 402,522 m² 446,010 m² 470,488 m² 470,525 m²
235,126 m² 248,827 m² 252,350 m² 293,359 m² 316,378 m² 316,458 m²
1,045,442 1,169,981 1,203,680 1,650,592 1,261,212 1,407,614
2,766 R$/m² 2,970 R$/m² 2,990 R$/m² 3,701 R$/m² 2,681 R$/m² 2,992 R$/m²
▲14.0% ▲11.4% ▲9.9% ▲7.9% ▲5.1% ▲9.8%
▲7.7% ▲9.0% ▲11.6% ▲13.9% ▲13.2% ▲14.0%
13.6% 13.2% 12.2% 12.3% 14.6% 13.6%
8.4% 7.8% 7.4% 8.1% 8.8% 8.1%
5.2% 5.4% 4.8% 4.2% 5.8% 5.5%
1.1% 1.6% 2.2% 1.7% 1.4% 1.0%
97.9% 98.2% 98.1% 98.3% 98.3% 98.7%
3.2% 3.9% 3.7% 3.7% 5.8% 4.5%
1.0% 1.7% 0.5% 0.6% 0.4% 0.4%
$1,000

3Q09 4Q09
139,686 187,264
126,521 171,114
18,694 25,946
81,759 123,533
256 R$/m² 374 R$/m²
86,132 94,198
270 R$/m² 285 R$/m²
68.1% 55.0%
78,662 125,438
247 R$/m² 379 R$/m²
82.3% 88.8%
81,061 93,730
254 R$/m² 284 R$/m²
3Q09 4Q09
497,248 m² 533,741 m²
334,298 m² 347,985 m²
480,369 m² 509,053 m²
319,086 m² 330,538 m²
1,415,845 2,023,848
2,947 R$/m² 3,976 R$/m²
▲5.6% ▲10.6%
▲8.1% ▲6.5%
13.5% 12.0%
8.0% 7.8%
5.5% 4.2%
2.7% 1.4%
98.4% 99.1%
4.5% 0.6%
1.4% 1.5%