News

BRMALLS ANNOUNCES 4Q15 EARNINGS RELEASE

Highlights:

. On 4Q15 our Net Revenue was in line with the prior year period at R$404.2 million. In 2015, net revenue was R$1,446.8 million, growing 3.7% from 2014. Excluding the effects from the assets sold over the last 12 months, our net revenues grew by 6.4% in 2015.

. NOI in 4Q15 was R$384.6 million, increasing 0.7% from 4Q14, with a margin of 92.6% in the quarter. We ended the year with NOI of R$1,348.0 million, growing 3.9% from 2014 with a 91.8% margin. During 2015, our Same-mall NOI was 6.2% .

. Adjusted EBITDA was R$330.8 million in the quarter. Adjusted EBITDA margin stood at 81.8%. We ended 2015 with adjusted EBITDA of R$1,152.8 million and a 79.7% margin. Excluding the effects from our asset sales, our adjusted EBITDA grew by 3.4% in 4Q15 and 5.8% in 2015.

. Adjusted FFO was R$129.6 million. In 2015, adjusted FFO was R$413.2 million.

. Same-store rent grew by 6.4% in 4Q15 and 7.3% in 2015, while same-store sales grew by 0.9% in 4Q15 and 3.0% in the year.

. We ended 4Q15 with an occupancy rate of 96.9% in our malls. Despite the deterioration of the Brazilian macroeconomic scenario, we were able to improve our occupation rate by 10bps from 3Q15.

. We ended the quarter with a year low net late payment of 1.9%, a 70 bps improvement over 3Q15. Late payments reached 5.6% on 4Q15, an improvement of 90bps over 3Q15.

. In January 2016, we issued a two year term US$50.0 million 4131 loan with J.P Morgan. The 3.625% coupon rates in USD will be paid every semester and the principal will be amortized upon due date. The loan is fully hedged (principal and interest)at a 107.4% of CDI rate.

*Assets divested over the last 12 months: Center Shopping, West Shopping, 44% of Shopping Paralela, Mueller and Fashion Mall.

Please Click Here, to access the 4Q15 Earnings Release.

Conference Call:

English:

March 15th, 2016
10:00 a.m. US ET (11:00 a.m. Brazil)

Phone number:
+55 11 3127-4971
+55 11 3728-5971
1-516-300-1066 (U.S phone number):

Webcast:

http://extranet.voitel.com.br/audiocasting/Audiocasting_Acesso.aspx?Pag=Participante&NameRoom=N24025494

Replay:

+55 11 3127-4999
Recording ID: 92134172

http://extranet.voitel.com.br/audiocasting/Audiocasting_Acesso.aspx?Pag=Ondemand&NameRoom=N24025494

Portuguese:

March 15th, 2015
9:00 a.m. US ET (10:00 a.m. Brazil)

Phone numbers:
+55 11 3127-4971
+55 11 3728-5971

Webcast:

http://extranet.voitel.com.br/audiocasting/Audiocasting_Acesso.aspx?Pag=Participante&NameRoom=N24025493

Replay:

+55 11 3127-4999
Recording ID: 77397650

http://extranet.voitel.com.br/audiocasting/Audiocasting_Acesso.aspx?Pag=Ondemand&NameRoom=N24025493

BR MALLS PARTICIPAÇÕES S.A.
Investor Relations Officer
Frederico da Cunha Villa

ABOUT BRMALLS

BRMALLS is the largest integrated mall company in Brazil, with a portfolio of 45 malls, comprising 1,638.1 thousand m² of GLA and 957.9 thousand m² of owned GLA. BRMALLS is the only shopping mall company in Brazil with nationwide presence and targeting all income segments.

IR Contact:

Phone: 55 (21)3138-9900 E-mail: ri@brmalls.com.br Website: www.brmalls.com.br/ir