Corporate Presentation March / April 2012 0 Disclaimer

The material that follows is a presentation of general background information about T4F Entretenimento S.A (“T4F”) as of the date of the presentation. It is information in summary form and does not purport to be complete. This material contains confidential information regarding and may not be reproduced or circulated, partially or completely, without the prior written consent of the T4F. Any statements, projections, expectations, estimates and plans contained in this document that do not describe historical facts, and the factors or trends affecting financial condition, liquidity or results of operations, are forward-looking statements and involve several risks and uncertainties. Such statements are based on assumptions and analyses made by the Company based on its experience and the economic climate and on market conditions and expected future events, many of which are beyond the Company’s control. No investment decision should be based on validity, accuracy or completeness of the information or opinions contained in this presentation. Under no circumstances, neither the Company nor its subsidiaries, directors, officers, agents or employees be liable to third parties (including investors) for any investment decision based on information and statements in this presentation, or for any damages resulting therefrom, corresponding or specific. This presentation does not constitute an offer, or invitation, or solicitation of an offer, to subscribe for or purchase any securities. Neither this presentation nor anything contained herein shall form the basis of any contract or commitment whatsoever.

1 1.1. CompanyDescrição Overview da Companhia

2 IPO Summary

Summary . Pricing Date - April 7th 2011; Price - R$16.00 ; Offering Size - R$503 million (US$310 million1)

Geographic Allocation . 60% North America; 25% Europe; 15%

Use of Proceeds . (i) Acquisition of companies and venues, (ii) construction of venues and (iii) geographic expansion

Bookrunners

Shareholding Structure

Fernando Luiz Stake CIE International Alterio Gávea Investimentos Shareholders Direct + Indirect

12.8% Fernando Luiz Alterio 31.9% 85.0%

CIE International 9.8% FA Comércio e 15.0% Participações 8.0% Gávea Investimentos 12.8% 28.1% Free-Float

5.6% Shareholders’ Agreement 54.5% 45.5% Free Float 45.5%

1: Assuming the exchange rate of US$1 = R$1.6207 as of May 12th , according to Bacen. 3 Company Overview

T4F is the leading live / out-of-home entertainment promoter in South America with a diversified and verticalized business model

Leading company High Growth and Our Presence Unique Industry Diversified and in live entertainment Strong Cash (Net Revenue 2011) Knowledge Verticalized Model in South America Generation

. 4th largest player . Brazil 76% . 29 years of experience . Net Operation Cash . Promotion of multi- worldwide by Billboard Flow = 87% of content events . Promotion of the most EBITDA ( ∑ 05-11) . Argentina 16% successful events in . Venues Operation . 1.2 thousand shows Brazil, Chile and . Net Revenues CAGR promoted in 2011 Argentina 11% (07-11) . Chile 8% . Food & Beverage and . Pioneer in naming rights . EBITDA CAGR Merchandising . 2.9 millions tickets sold model in 1999 21% (07-11) in 2011 . Ticketing Services . Sustainable margins going forward

ONE AND ONLY INVESTMENT OPPORTUNITY IN THE ENTERTAINMENT INDUSTRY IN SOUTH AMERICA

4 Our Business

Live Music Sport Events Theatrical Production Performing Arts

U2 Madonna Stock Car Marcas The Addams The Phantom Family of the Opera

Pearl Jam Roger Waters Copa Montana Mini Challenge Mamma Mia Cats Bodies

Verticalization

VENUE OPERATIONS FOOD & BEVERAGE MERCHANDISING TICKETING SERVICES

Revenue Sources

Food & Beverage, Sponsorships and Suites and Hospitality Private Box Office Ticketing Services Merchandising, Naming Rights Centers Events and Parking 5 Leadership Position in Live Entertainment Industry

U2 Madonna 3 out of the 11 largest 3 out of the 5 largest shows of 360º World Tour shows of the tour in 2008

Coldplay Bon Jovi Promoted the 1st and 5th Promoted the 2 largest largest shows of all tours shows of the 2010 world tour

AC/DC Guns N’ Roses The largest Promoted 7 out of the 10 show of the world tour in largest shows of the tour 2009

6 Leadership Position in Live Entertainment Industry

- More than 1,000 performances 2006 - 12 cities visited - More than 2 million tickets sold Cirque du 2007-2008 - in Sao Paulo was Cirque du Soleil th 2009-2010 Soleil’s biggest box office and the 6 biggest international box office in 2010

2011-2013 - started Sep/11 in Sao Paulo

Les Misérables, , 12 different contents

Beauty and the Beast, Theatrical The only player that ever promoted Mamma Mia, Miss Saigon, authentic Broadway productions in the Phantom of the Opera, Plays region The Sound of Music, Cats,

More than 3.3 million tickets sold since Sweet Charity, Cabaret, 1999 The Witches of Eastwick, The Addams Family

12 races per season in 10 different cities

Sports Third largest touring car series worldwide Events

Broadcasted by TV Globo since 2000

7 2. Investment Highlights

8 Investment Case

Attractive Compelling business Macroeconomic Live Entertainment model and Superior Environment and Robust Industry Growth Management and Consumption Growth Expertise

 Massive increase in  Live music:  Superior business model: disposable income and higher return with lower risk expansion of consumer Touring became base essential for artists  Credibility with international and domestic agents and  Expenditure of Aggressive growth in privileged access to high entertainment is extremely South America in terms quality entertainment correlated to consumer of ticket sold and providers spending average ticket price

9 Positive Trends for Expenditures with Entertainment in Emerging Markets…

Expenditure with Entertainment as a % of the Disposable 2011E-2016E GDP Growth (1) Income vs GDP per Capita

12.0% China 56.6% R2 = 0.66 India 47.0% R2 (ex Argentina) = 0.81 UK Japan Indonesia 38.9% 10.0% Peru 33.3% Malaysia 28.0% Spain Argentina USA Chile 24.7% New Zeland 8.0% Colombia 24.5% France Singapore 22.6% Portugal Argentina 22.6% Greece Brazil 22.0% 6.0% Croatia Italy Israel Russia 21.5% Mexico 19.0% Australia 17.9% 4.0% Brazil Sweden 16.3% 5 out of the 10 United States 15.0% largest growths Mexico New Zealand 15.0% in GDP are in 2.0% Chile Croatia 13.7% China South America India United Kingdom 12.5% Expenditure entertaiment with as a % of disposable income Colombia Venezuela Canada 12.0% Per u 0.0% Venezuela 12.0% 0 10,000 20,000 30,000 40,000 50,000 France 9.9% Japan 9.5% GDP per capita in 2009 (US$ '000)

(1) In local currency real terms. Source: Euromonitor. Source: IMF – World Economic Outlook.

Expenditures with entertainment are expected to significantly increase in emerging markets 10 Boom of the Live Entertainment Industry

Live music has significantly increased importance in the music industry, with touring becoming essential for artists, while recorded music revenues have been shrinking

Total Recorded Music Revenues vs. Total Revenues with Top Music Acts – Sales Breakdown Tickets Sold in North America

(US$ billion) (US$ million)

U2 12% 88% 137 7.8 7.5 6.8 Bruce 5.8 Springsteen 5% 95% 105 5.2 4.7 Album sales Britney Tour Gross Spears 6% 94% 90 4.6 Total 4.3 4.2 3.9 3.6 AC/ DC 6% 94% 86 3.1

Jonas Brothers 9% 91% 79 2005 2006 2007 2008 2009 2010

Source: Pollstar / IFPI Source: Live Nation (2009)

11 Superior Business Model

High • 18% EBITDA margin Verticalization Diversification Ability to generate Multi-content platform Margins • 31% ROIC revenues from multiple = reduced risk and sources in each event • 26% ROE Returns

Note: FY2011 figures.

• No revenue concentration in specific content Low Risk • Increased control over the entertainment value chain

Asset Light Strong Cash Flow Maintenance capex = 1% Low capex and negative Strong Cash • 87% of EBITDA in the of net revenues; PP&E working capital period 2005-2011 was represent <5% of total (sponsorships + tickets Conversion converted to cash assets sold in advance)

12 Strong Cash Flow Generation

Typical Cash Cycle Of A Large Live Music Event

(Cash inflows/ outflows) 50% of sponsorship 50% of sponsorship Taxes 100% of box-office

Promotion costs

50% of artist fee & media expenses

Profit

6M - -7M -5M -4M -3M -2M -1M + 1M+ Concerts

Note: “M” indicates months. 13 Solid Sponsorship Revenues Flow

• Migration of marketing budgets from traditional media to below-the-line advertising (sponsorship is the largest category within) North American Annual Growth in Advertisement, Sales • Content sponsorship, priority benefit, naming rights Promotion and Sponsorship sold in our 5 venues

• Over 100 active clients, including major corporations Advertsing T4F’s contents attract strong media interest, Sales Promotion • 11.5% 11.4% generating a significant amount of spontaneous media Sponsorship (about R$500 million per year) • Sponsorship corresponded to 23% of T4F’s Net 5.9% 3.7% 3.9% 3.9% Revenue in 2011 3.0% 2.0% 2.0% Largest Corporate Sponsors 0.6% 0.0%

-0.6%

-3.3% -4.6%

-7.1%

2007 2008 2009 2010 2011E

Naming Rights Source: IEG.

14 High Barriers of Entry

. Agreement with Cirque du Soleil valid through 2013 Guaranteed access to . premium content Exclusivity and non-compete agreement with Live Nation valid through August 2015

. Family Entertainment: Disney, Andrew Lloyd Weber, Cameron Mackintosh and Privileged access to high- the Blue Man Group quality entertainment . Sports: Stock Car, Brazilian TCC, Fórmula Montana and Mini Challenge providers . Music Concerts: CAA, William Morris, ITB – International Talent Booking, The

Agency Group, among others

Long-term agreements . Naming Rights: Citibank, Credicard, Abril and Caixa Econômica Federal and solid relationships . Sponsorships: Bradesco, Credicard, Mastercard, American Express, Citibank, with corporate sponsors Quilmes, General Motors and Pepsi

Exclusive long-term access to premium . Controls 5 of the most important venues in South America venues

. Various business lines: Latin Music, Anglo Music, Performing Arts, Venues and PotentialCompetitors The only totally Ticketing integrated business . Possibility to capture economies of scale on the acquisition of content, by model operating in four countries

. T4F is the most credible producer and promoter in South America, both in Credibility execution capability and financial strength

15 3. Growth Strategy T4F’s Growth Opportunities

T4F is the natural consolidator of the South American live entertainment industry

Total potential amount of approximately R$ 600mm Financial Sources Acquisition of Equipment, 5%

Ticketing Service, Acquisition 7% Strong Cash Generation Opportunities, 45%

IPO Proceeds

Construction of Venues, 35%

Leverage Capacity

Geographic Expansion, 8%

17 T4F Outdoor Venue in São Paulo

T4F outdoor venue is expected to be a reference among renowned entertainment venues

Project overview

. Designed to fill a gap in high-level entertainment venues in the São Paulo metropolitan area

. Naming rights revenues reaching up to R$ 9 million a year

. Flexible in terms of capacity: events from 15,000 to 60,000 people

. Capex should reach R$110 million with expected IRR of 33%

. Control of the agenda and integrated model translate into a strong barrier of entry

18 Geographic Expansion

80% of T4F’s revenues in Brazil come from SP and RJ which represent only 17% of Brazil’s GDP

Main Cities in Brazil Main Cities in South America

Caracas New / retrofitted Colombia Venezuela venues to Guiana Suriname explore Bogota French Guiana

Ecuador

Belém Manaus Fortaleza Natal Peru Brazil Recife Lima Salvador Bolivia Brasília Belo Horizonte Paraguay Campinas Chile Sao Paulo Curitiba Mendoza Argentina Porto Alegre Cordoba Uruguay

680 presentations/year Potential of 400 and 1.5 mm tickets presentations/year and 300 presentations/year Potential of 200 840 thousand tickets sold/year in SP and RJ and 1.0 mm tickets presentations/year and sold/year in other cities sold/year in BA and 700 thousand tickets sold Santiago in other cities Indicates cities in which T4F is currenlty present. Cities to which T4F plans to expand operations.

Still a relevant growth opportunity outside Brazil, representing 40% of South America’s GDP 19 Selected Acquisition Targets

Fragmented market presents several consolidation opportunities and T4F has already screened selected acquisition targets which are complementary and synergic.

Venues Festivals

+ 7 venues identified in 5 different states of Brazil + 7 festivals in 5 different cities in Brazil

. Complementary in calendar (summer) . Average capacity: from 5,000 to 16,000 people . Well-established brands, mostly in NE region . Exposure to middle class

Promoters Marketing

Promotional Marketing: below the line and event + 8 companies operating in specific niches, such companies provides strong synergies with as: classic music, regional music and dance production (team and equipments), food & beverage and venues operations + 4 sport events companies acting in: car racing, beach volley, beach soccer, tennis and . 11 companies out of 92, aggregate sales of basketball R$770 mm in 2009

20 4. Operational and Financial Highlights

21 Solid Operational Performance

Net Revenues (R$ mm) and Gross Margin (%) EBITDA (R$ mm) and EBITDA Margin (%)

18.0% 16.8% 30.6% 16.7% 29.2% 26.7% 24.4% 10.6% 110.1 609.8 100.4 596.6 569.2 95.1

434.6 46.1

2008 2009 2010 2011 2008 2009 2010 2011

Net Income (R$ mm) and Net Margin (%) Operational Cash Flow vs. EBITDA

10.0% 87% 462.0 7.9% 7.1% 61.1 351.9 46.9 256.8 402.5 40.3 214.5 347.7 1.4% 188.7 105.6 210.7 246.5 36.4 110.3 58.1 6.0 5.3 2005 2006 2007 2008 2009 2010 2011

2008 2009 2010 2011 EBITDA - Accumulated Cash Generation - Accumulated

Note: Summary of 2009 impacts • Global crisis impact of R$16.8 mm • Postponement impact of R$4.7 mm • H1N1 flu impact of R$21.6 mm 22 Historical Financial Information (cont’d)

ROIC, ROE and indebtness metrics

ROIC (1) ROE (2) (%) (%) 46.0% 42.0% 38.3% 30.7% 31.7% 25.0% 25.9%

4.8%

2008 2009 2010 2011 2008 2009 2010 2011

Net Debt and Net Debt / EBITDA Net Debt Breakdown (2011) (R$ million) 92 (R$ million)

2.0x 29 263.3 0.3x 2011 93.8 2009 2010 (1.2x) 41.9 Net Debt Short Term Debt Long Term Debt Cash and Equivalents (127.6) (128)

(1)ROIC calculated as NOPAT / (Net PP&E + current assets non cash) (2)ROE calculated as Net Income/ Average Shareholders’ Equity. . 23 Why Invest in T4F?

One and only investment opportunity in the entertainment industry in South America, with longstanding track-record and leadership

Strong conversion of EBITDA into cash flow

Asset light model, resulting in high returns and dividend payout capacity

Verticalization and diversification, resulting in high margins and low risk

Unique access to high-quality content

Multi-country operations, creating significant economies of scale and barriers of entry

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