Multiplan

Rio de Janeiro, January 18, 2016 - Multiplan has released 2015's operating earnings preview. Store sales in the company's shopping centers reached the mark of R$ 13.3 billion, an increase of 4.5% compared to 2013. The previous year had already seen an expansion of sales of 12.1% over 2013.

In the fourth quarter, sales grew 4.1% compared to the same period of the previous year, reaching R$ 4.2 billion, even in a challenging scenario. The successful year-end campaign in the malls, which distributed 252 cars, contributed to the results delivered.

The average occupancy rate of the shopping center portfolio in 2015 was 98.3%, continuing at a high level — close to the all-time record registered in 2014, of 98.7%. In 4Q15, Multiplan registered an average occupancy rate of 98.0%, in line with the 3Q15.

In the last five years, annual sales have nearly doubled, going from R$ 7.5 billion in 2010 to the current number. In a period of ten years, since 2005, sales more than quadrupled from the starting amount, adding R$ 10.2 billion to the company's nominal sales. The Compound Annual Growth Rate (CAGR) during the period was 15.6%.

Same area sales (SAS) grew 3.3 percent on year, while Same Store Sales (SSS) posted growth of 1.8%. It is important to highlight that the growth was based on the strong foundations of previous years, leading to 12.1% growth SAS over two years.

The SAS index rose 3.9%, compared to the same quarter of the previous year, representing an acceleration over 3Q15's growth, while the SSS evolved 2.1% over the same period. These increases over the SAS and SSS growth rates of the previous year, of 8.8% and 7.9%, respectively, strengthened Multiplan's portfolio in a period of great challenges in the country. The difference of 180 b.p. between the SAS and the SSS, one of the widest ever registered, demonstrates the ability of the company to change the mix in a way to add value to its shopping centers.

About Multiplan – Currently, it has 18 shopping centers located around the country: BarraShopping, New York City Center, ParkShoppingCampoGrande and VillageMall, in Rio de Janeiro (RJ); BH Shopping, DiamondMall e Pátio Savassi, in Belo Horizonte (MG); MorumbiShopping, ShoppingAnáliaFranco and ShoppingVilaOlímpia, in São Paulo (SP); JundiaíShopping, in Jundiaí (SP); ParkShoppingSãoCaetano, in  São Caetano do Sul (SP); RibeirãoShopping and Shopping Santa Úrsula, in  Ribeirão Preto (SP); ParkShopping, in Brasília (DF); ParkShoppingBarigüi, in Curitiba (PR); BarraShoppingSul, in Porto Alegre (RS); and Parque Shopping Maceió, in Maceió (AL). The portfolio in operation totals a GLA of 768,290 m², more than 5,400 stores and annual consumer traffic estimated at 180 million. Multiplan owns an average ownership interest of 73.8% in its malls. It is the only company in the country’s construction and shopping center industry to have an investment grade rating awarded by Standard & Poor's agency.