Brazil Pharma has experienced strong growth in the Brazilian pharmacy retail industry, expanding its footprint from 663 points of sale at its IPO to over 1,050 currently, with same-store sales growth averaging over 10% annually; while improving operational efficiency and increasing profitability as shown by adjusted EBITDA margins of over 6% and adjusted net margins of around 3%. The company aims to continue its organic expansion strategy while further integrating its regional platforms under a unified corporate culture and structure.

1. Brazil Pharma
Bradesco CEO Conference - New York
November 2012

2. The Opportunity

3. Industry Performance
A Growth and Accelerating History…
Sales Performance in the Brazilian Pharmacy Retail Industry from 1996-2011 (R$ Billion)
43.00
36.00
30.20
26.40
23.60
21.50
19.20
17.20
14.80
13.10
11.20 11.60
9.40 10.30
8.30
7.00
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Drivers Macro Drivers Micro Timing
Income Growth Population Aging Generics Drugs Regional Brands Fragmented Formalization
Source: IMS. 3

4. Geographic Concentration
… still concentrated in the Southeast
There is low competition on the regions outside the Southeast.
Drugstores per region (2011) Brazil Pharma vs Competitors (2011)
More dense
Less dense
Competitors Focus
Market Growth - CAGR (2007-2011)
Source: IMS.
4

5. The Company

6. National Footprint
Largest drugstore chain outside the Southeast…
Brazil Pharma footprint and clusters
237 Owned stores
86
1
116 Owned stores
108 20 1 10
121 Owned stores
15 75
207 Owned stores
7
11 369 Franchises
89 116
REGIONS 21
Owned stores Footprint 1,050 Stores
North 109
Northeast 244
Midwest 121
9
Southeast
198
South 207
05 Distribution centers
Source: Brazil Pharma 6

7. Strong Local Knowledge
… With a leadership position in four out of five regions…
Drugstore ranking per Region
1
Number of Stores
North Northeast Mid-west Southeast South
1o
2o
(2)
3o n/a
(2) (2) (2) (2) (2)
4o n/a n/a n/a n/a n/a
Source: Brazil Pharma, Abrafarma ; Note: (1) Ranking by number of owned stores as of Dezember 31, 2011 considering the four largest Drugstore chains in Brazil; (2) n/a: Other chains do 7
not have operations in the region

8. Competitive Advantages
… Taking benefits of this.
Brazil Pharma competitive advantages
Strong Organic Growth Capacity Maturation of Owned Stores
Organic Growth (# owned stores) (3Q12)
109 54 681
95 Stores < 12 months
14.2%
90
Stores > 12 < 24 months
333
17.2%
54.9% Stores > 24 < 36 months
13.7%
Stores > 36 months
2009 Openings Openings Openings Openings 3Q12
2009 2010 2011 9M12
Geography: More Growth and Less Competition Profitable Sales Mix
(CAGR07’-11’) (3Q12)
Brazil Pharma Abrafarma
11.7%
17.0%
37.1%
28.5%
64.9%
45.9%
HPC Branded Generics
Source: Brazil Pharma and IMS. 8

9. Performance
Since IPO

10. Increasing Footprint Since IPO
Strong delivery since the IPO…
Footprint at and 12 months later the IPO
Platform @ IPO Actual Platform
(1Q11) (3Q12)
663 Points of sale 1,050 Points of sale
302 Owned Stores 681 Owned stores
361 Franchises 369 Franchises
60 Owned stores
237 Owned stores
1
116 Owned stores
121 Owned stores
89 Owned stores
361 Franchises 369 Franchises
207 Owned stores
153 Owned stores
Owned stores
Franchises
Distribution Center
(1) Sant’Ana’s Distribution Center caught fire on December 2011. A new distribution center was inaugurated on November, 2012 ; (2) Includes 11 stores acquired from Estrela
10
Galdino on April , 2012 and added to Sant’Ana’s store count in June 30, 2012.Therefore they generated no revenues in 9M12.

11. Sales Profile
Strong historical sales growth and same-store sales (SSS)
Same-Store Sales1
(Total - %) (Mature Stores - %)
16.2%
12.4% 13.8% 15.1% 12.1%
10.0% 8.9% 9.1% 7.8%
8.6% 6.1%
5.8%
1Q11 2Q11 3Q11 1Q12 2Q12 3Q12 1Q11 2Q11 3Q11 1Q12 2Q12 3Q12
Sales Mix1 Average Ticket1
(% of Gross Revenues) (R$)
21.0% 16.4% 17.1% 17.0% 29.9 30.5 28.8 31.4 31.3
28.3
47.5% 46.1% 46.4% 45.9%
31.6% 37.5% 36.5% 37.1%
2011 (Non- 1Q12 2Q12 3Q12 1Q11 2Q11 3Q11 1Q12 2Q12 3Q12
proforma)
Non-Medicine Branded Generics
(1) Proforma information, except when otherwise indicated. 11

12. Financial Highlights
Gross Revenues¹ Gross Profit and Gross Margin1
(R$ Million) (R$ Million | % of Gross Revenues)
31.4% 31.5% 30.2% 30.1% 30.7%
746.8 804.4
673.6 719.0 699.3 247.1
211.3 226.8 211.0 224.5
3Q11 4Q11 1Q12 2Q12 3Q12 3Q11 4Q11 1Q12 2Q12 3Q12
Adjusted EBITDA and EBITDA Margin1,2 Adjusted Net Profit and Adjusted Net Margin1,3
(R$ Million | % of Gross Revenues) (R$ Million | % of Gross Revenues)
3.6% 4.4% 3.3% 3.3%
6.5% 6.5% 1.4%
6.1% 6.2%
5.3%
44.0 43.6 46.3 52.3 32.0
36.9 23.9 24.3 26.9
10.1
3Q11 4Q11 1Q12 2Q12 3Q12 3Q11 4Q11 1Q12 2Q12 3Q12
(1) As of September 30th, 2012, on a proforma basis; (2) Adjusted Ebitda - excludes non-recurring expenses ; (3) Adjusted Net Profit - excludes non-recurring expenses, brand and intangible 12
assets amortization and non-recurring IR & Social Contribution effect.

13. Operational Performance Since IPO
… not only in growth, but also on the performance
Incresing operational efficiency and stores productivity
Stores Performance BRPH @ IPO (1Q11) BRPH 3Q12
# of store employees
22.6 19.7 -13%
per store
Sales per store / employee
(R$ thousand) 34,4 51.3 +49%
Store EBITDA / employee1
(R$ thousand)
3.7 7.4 +100%
Administrative Performance
# of administrative + distribution
3.8 3.6 -5%
center employees per store
EBITDA / employee2
(R$ thousand)
1.5 3.8 +153%
Source : Brazil Pharma ; Notes: (1) Considers total stores and distribution centers employees ; (2) Considers total employees (store, distribution centers and administrative). 13

14. Focus on Integration

15. Brazil Pharma History
186 accumulated years of experience…
Great regional companies into a Excellent National Company
186 years of
History IPO
1945 1965 1975 1994 1994 1995 2009 2011 2012 2013E 2014E 2015E 2016E
Source: Brazil Pharma 15

16. One Company, One Culture
… becoming just one Company…
Our dream is what moves our People
• To be the best Drug Store
Dream Chain in the country
helping create a healthier world
• Provide health and well-being for
our customers
• Create Long-term partnerships with
Mission our suppliers
• To have the best working climate to
develop our talents
• To be profitable to our Shareholders
• Attitude to go beyond
• Etics in all we do
People •
•
Proud to belong
Focus on results
• Meritocracy to recognize our
talents
Source: Brazil Pharma 16

17. Corporate Structure
… With a simple and aligned structure …
Distinct Companies
Holding
Corporate
Unique Company
Administrative
Commercial Operations
(SSC)
#1 for Suppliers #1 for Customers #1 for Talents
Source: Brazil Pharma 17

18. Operationally Integrated
… becoming 100% integrated
Corporate
Commercial Operations Administrative (SSC)
Joint Management Mapping
negotiation Team
1 1 1
Team Training and
Regional Plugging-in
centralization
2 2 Leardeships 2
Continuos Continuos Continuos
improvement improvement improvement
3 3 3
1. Platforms operate separately but with 1. Management Team to monitor the 1. Requirements understanding, drawing
strict Corporate guidelines; Operations’ Team of each regional platform: the scope and processes;
Culture dissemination and performance
2. Centralization of Procurement 2. Plug-in platforms into the SSC.
monitoring;
department: unification of regional talents
3. Through quality tools, in the quest for
into one single team;
2. Training and formation of Regional constant improvement in its processes
3. Commercial intelligence: relationship leaderships; and productivity gains.
with the industry, sales mix improvement,
3. Centralized operation’s management.
scale in campaigns, standardization of
DC’s and Logistics.
Source: Brazil Pharma 18

19. Peers

20. Brazil Pharma: Comparing With Peers¹
Solid track record, with improvements to come on maturation and integration
Stores (as of September 30th, 2012) LTM 3Q12 Gross Profit and Gross Margin
(R$ Million | % of Gross Revenues)
828
681 30.6% 1,432.4
909.4
26.5%
1 2
BRPH RD
LTM 3Q12 Selling, General, Administrative and
Other Expenses¹ and % of Gross Revenue LTM 3Q12 EBITDA¹ and EBITDA Margin
(R$ Million | % of Gross Revenues) (R$ Million, % of Gross Revenues
1,113.5
24.6% 318.9
6.0%
730.3 20.6% 5.9%
179.1
BRPH RD BRPH RD
1- Adjusted figures according to each company’s criteria. 20

21. Farmais

22. Why to expand the footprint?
Categories in which Own Potential categories for
BPRPH Platforms act FARMAIS 41,052
11,172
# Stores by Sales Market size
category 64,281
Stores
Addressable market
•10,062 stores
• Average turn-over
Average sales of
~R$ 140
each store
R$ thousand/month
thousand/month • Total turn-over ~R$
1,4 Bi / month ~R$
16,8 Bi / year
Total sales of Market size
R$ 37,437
each category
million
R$ MM/year
Source: IMS internal bases, by distribution study. Data related to medications 22

23. Appendix
Company’s Structure

24. Shareholder’s Structure
BTG Pactual + FIPs Operating Partners Managers Free Float
35.7% 19.6% 0.4% 38.7%
100% 100% 100% 100% 100% 100%
Note: As of November, 2012 24

25. Remaining Lock-up Period
Oct/2012
2011 2012 2013 2014 2015 2016
1
Shares: 2,250,974
Jun/2011 Jun/2014 % Shares: 0.9
2
Shares: 7,864,262
Jun/2011 Jun/2014 % Shares: 3.1
1
Shares: 15,000,000
Feb/2012 Feb/2015 % Shares: 5.9
1
Shares: 23,840,957
Mar/2012 May/2015 % Shares: 9.4
Note : Rosario’ s familly does not have lock-up (1) After the 3 years lock-up shareholders have the right to sell all stake (2) Shareholder have the right to sell up to 1/3 of the shares every 25
year after the first anniversary (June, 2011).

26. Experienced Management
Fronts of Integration
Experienced Management
Experience in retail / pharmaceutical industry
Commercial Integration Operations Integration Management – SSC Integration
Carlos Dutra Rodrigo Silveira Flávio Sanchez
20 years 19 years 16 years
Operations – NE
Procurement Logistic Trade Marketing Operations – N/NE Operations - S Operations - MW IT SSC
(Bahia)
Rovilson Ricardo Delmar
Renato Stefanoni Jadir Tavares Wesley Barbosa Emílio Azevedo Rogério Segala Juliana Amaral
Apolinário Kitamura Raguzzoni
7 years 20 years 33 years 12 years 12 years 18 years 20 years 20 years 10 years
26

27. Appendix
Operations

28. Trade Marketing
Constantly working on improving consumption experience...
Non-renovated store
28

29. Trade Marketing
Constantly working on improving consumption experience...
Renovated store
29

30. Logistics
...Operational excellence supporting sales and growth
New DC – Distrito Federal
Situated in Brasília
 Services Midwest region;
 Storage area: 5,000 m²;
 Ceiling: 8 mts;
 3.6 thousand pallet position;
 Production capacity of 200,000 units/day;
 Storage capacity: up to 13,000 SKU;
 Operates with WMS system.
30

31. Logistics
...Operational excellence supporting sales and growth
New DC – Bahia
Situated in Camaçari
 Services Bahia state, may also service Sergipe state
 Storage area: 9,000 m²;
 Ceiling:12 mts;
 6,000 pallet positions (reaching up to 8.6 thousand);
 Production capacity of 400,000 units/day;
 Storage capacity: up to 15,000 SKU;
 Operates with WMS system.
31