Conference Call | 2Q16

1. Earnings
Release 2Q16
August 4, 2016

2. 2
Disclaimer
This notice may contain estimates for future events. These estimates merely reflect the expectations of the
Company’s management, and involve risks and uncertainties. The Company is not responsible for investment
operations or decisions taken based on information contained in this communication. These estimates are
subject to changes without prior notice.
This material has been prepared by Multiplus S.A. (“Multiplus“ or the “Company”) includes certain forward-
looking statements that are based principally on Multiplus’ current expectations and on projections of future
events and financial trends that currently affect or might affect Multiplus’ business, and are not guarantees of
future performance. They are based on management’s expectations that involve a number of business risks
and uncertainties, any of each could cause actual financial condition and results of operations to differ
materially from those set out in Multiplus’ forward-looking statements. Multiplus undertakes no obligation to
publicly update or revise any forward looking statements.
This material is published solely for informational purposes and is not to be construed as a solicitation or an
offer to buy or sell any securities or related financial instruments. Likewise it does not give and should not be
treated as giving investment advice. It has no regard to the specific investment objectives, financial situation
or particular needs of any recipient. No representation or warranty, either express or implied, is provided in
relation to the accuracy, completeness or reliability of the information contained herein. It should not be
regarded by recipients as a substitute for the exercise of their own judgment.

3. 3
Highlights
RECORD NET INCOME of R$ 136.50 million in the second quarter, na increase
of 24.9% vs. 2Q15
Net margin reached 25.1% in the quarter
RECORD OF ACCESS on Multiplus’ MarketPlace (65% higher than 2Q15)
NON-AIR REDEMPTIONS reached 15.5% of the total of points redeemed
15.1 MILLION MEMBERS, 14% increase when compared to the second quarter
of 2015

4. 4
Campaigns
APRIL FOOLS’ DAY
50% discount on purchase of points
25 TIMES MORE ACCRUAL VS PERIOD WITHOUT CAMPAIGNS
MOTHERS DAY
30% bonus on credit card transfer
VALENTINES DAY
17% HIGHER NUMBER OF REDEMPTIONS VS
PERIOD WITHOUT CAMPAIGNS
ANTICIPATED BLACK WEEK
53% OF MEMBERS MAKING THEIR FIRST RETAIL
REDEMPTION

5. 5
Mobile APP and Game Multiplus
Almost 1.8 million downloads
INCREASE OF 70% vs. 2Q15
INCREASE OF 58% OF ACTIVE MEMBERS ON THE APP vs. 2Q15
Record of redemptions
215% GROWTH OF POINTS REDEEMED vs. 2Q15 AND
27% MORE REDEMPTIONS vs.1Q16
LAUNCH OF “FLASH CHALLENGES”
11% OF ENROLLMENTS IN 2Q16 CAME FROM THE GAME
INCREASE of 54% IN INDICATION OF FRIENDS vs. 2Q15

6. 6
New partnerships
FASHION E-COMMERCE
REDEMPTION OF VOUCHERS
WITH DISCOUNT AS OF 2600
POINTS MULTIPLUS
HOME APPLIANCES
ACCRUAL PARTNERSHIP
PURCHASE OF EYEGLASSES
WITH POINTS
THE GLOBAL LEADER IN OPTICAL
RETAIL
TOURIST PACKAGES
ACCRUAL PARTNERSHIP ON
THE PURCHASE OF TOURIST
PACKAGES
ACCRUAL OF POINTS AT THE
STORES
CREATION AND CLOTHING
MAKING
FOOD CHAIN
REDEMPTION
OF PRE-PAID
CARDS FOR
EXCLUSIVE USE
IN RESTAURANTS
REDEMPTION OF TICKETS WITH POINTS MULTIPLUS TO THE
EXHIBIT "THE WORLD OF TIM BURTON“
1.7 MILLION POINTS REDEEMED, OR 870 TICKETS

7. 7
Recent announcements
07/06/2016
CO-BRANDED CARD WITH COM ITAÚ TO ACCUMULATE POINTS
DIRECTLY AT MULTIPLUS NETWORK
07/12/2016
LAUNCH OF PLATFORM FOR HOTEL RESERVATIONS IN PARTNERSHIP
WITH EXPEDIA AFFILIATE NETWORK, TO ACCUMULATE POINTS
07/15/2016
CHANGE OF CONVERSION TO ITAÚ PREMIUM CLIENTS, IN THE POINTS
TRANSFER

8. 8
Operational results
13.2 13.5
14.2 14.7 15.1
2Q15 3Q15 4Q15 1Q16 2Q16
Members (million) Points issued (billion)
+ 14.0%
43.7
38.7
21.7 20.5
18.3
1S15 1S16 2Q15 1Q16 2Q16
- 11.4%
- 15.7%

9. 9
Non-air redemptions and breakage rate
Non-air redemptions (%) Breakage rate (%)
13.1% 13.7%
19.0%
13.6%
15.5%
2Q15 3Q15 4Q15 1Q16 2Q16
17.9% 17.8% 18.1% 18.1% 17.8%
2Q15 3Q15 4Q15 1Q16 2Q16
- 0.1
p.p.
+ 2.4
p.p.

10. 10
Financial results
633.4 648.1 645.0 660.8
560.7
2Q15 3Q15 4Q15 1Q16 2Q16
560.6 586.1 580.6 565.9 543.6
19.1 19.3 18.5 17.4 16.5
30.4% 30.2%
34.6%
33.2%
35.4%
Net revenue Gross margin
Points
redeemed
(billion)
+4.9
p.p.
-13.5%
-11.5%
- 3.0%
Gross billings (in R$ million) Net revenues (in R$ million)
Gross margin (%)
2Q15 3Q15 4Q15 1Q16 2Q16

11. 11
Financial results
109.2
144.7
125.7 127.0
136.5
19.5%
24.7%
21.7% 22.4%
25.1%
Net income Net margin
178.7
150.4 144.1
201.2
76.1
2Q15 3Q15 4Q15 1Q16 2Q16
+5.6
p.p.
+24.9%
-57.4%
Net income (in R$ million)
Net margin (%)
Cash generation (in R$ million)
Note. The value excludes effects of advanced payments
from clientes, advances to suppliers , payments of
dividends and interest on capital
2Q15 3Q15 4Q15 1Q16 2Q16

12. Thank you!
invest@pontosmultiplus.com.br
ir.pontosmultiplus.com.br