BR Malls | 2016 Annual Report

BRMALLS among the TOP 25 companies where Brazilians dream of working (LinkedIn)
4^th most coveted Trainee Program: 20,000 applicants (Exame)
Roll out of the Back office Project (New CSC): 35 malls, 257 employees
BRMALLS among Brazil's Top 50 most beloved companies according to Love Mondays
Major unprecedented marketing events in partnership with renowned franchises: Frozen, Star Wars, Angry Birds, Luna, and PeppaPig, among others
Fitch risk rating agency granted us a rating of AA+ (national scale) and BB+ (international scale), with a better sovereign risk rating than Brazil (BB)

10 sales of interest totaling R$765 million
Creation of the Media Matrix area
Single and most important Disney partner in the shopping mall segment worldwide and portfolio with new licenses such as Star Wars, Cars and Disney Princesses
Implementation of the Back office (New Shared Services Center)
Inauguration of the 10^th and largest greenfield project, Shopping Vila Velha

Acquisition of four malls
Inauguration of four greenfield projects and six expansions (186 million sq.m of GLA)
BRMALLS is pioneer in the Implementation of the Zero-Based Budgeting (ZBB)
BRMALLS passes the R$1 billion EBITDA milestone
Total Raised '12-'13:
Debt: R$1,725 million

BRMALLS becomes Latin America's largest shopping mall company
BRMALLS is included in the IBOVESPA and IBrX-50 indexes
BRMALLS reaches the R$600 million EBITDA milestone, with a margin of 80%
1^st year of the Excellence Program in Malls (PES)
Acquisition of seven malls, including the Catuai portfolio
Inauguration of three greenfield projects
Inauguration of four expansions
Follow-on offering: BRMALLS carries out its 4^th and largest share offering, raising R$731 million
Total Raised '10-'11:
Equity: R$731 million
Debt: R$1,489 million

Acquisition of five malls, including Shopping Campinas and Metrô Santa Cruz
Inauguration of the Company's 1^st greenfield project
Inauguration of four expansions
Creation of the Shared Services Center (CSC), with 15 employees and providing services to 11 malls
BRMALLS posts NOI margin of 90%
Follow-on offering: BRMALLS launches its 3^rd share offering, raising R$446 million
BRMALLS closes the year with 35 malls in its portfolio
Total Raised '08-'09:
Equity: R$446 million
Debt: R$690 million

Foundation of BRMALLS - Private Equity GP Investimentos and Equity International buy ECISA, a company which owned six malls in operation and one mall under development.
BRMALLS carries out its IPO, raising R$650 million
BRMALLS carries out a follow-on offering, raising additional R$660 million
Issue of perpetual bonds totaling US$175 million
Acquisition of 23 malls, including Shopping Estação, Shopping Tamboré and Plaza Niterói
The Company's 1^st Trainee Program (4,000 applicants)
BRMALLS closes 2007 with 30 malls in its portfolio and becomes Brazil's largest shopping mall company
Total Raised '06-'07:
Equity: R$1,310 million
Debt: R$800 million

Annual Report 2016