ADJUSTEDOPEXAND ADJUSTED OPEX AND CAPEXBUDGETS

December 2012

FORWARDLOOKINGSTATEMENTS
Thispresentationmaycontaincertainforwardlookingstatementsthatexpressmanagementsexpectations, beliefsandassumptionsaboutfutureeventsandresults.Thesestatements,otherthanstatementsofhistorical fact,arebasedoncurrentlyavailablecompetitive,financialandeconomicdataandinformation,andon managementscurrentestimatesandprojectionsaboutfactorsrelatedtotheindustryinwhichBM&FBOVESPA operates.Wordsasanticipate,believe,could,may,would,should,estimate,expect,predict, intend,project,seek,targetandsimilarotherwordsareintendedtoidentifyforwardlookingstatements. Therecanbenoassurancethatforwardlookingstatementswillprovetobeaccurate,astheyinvolverisksand uncertaintiesthatcouldcauseourfutureperformanceandactualresultstodiffermateriallyfromthosethatare anticipated,expressedorimpliedinsuchstatements.Factorsthatmayaffectourfutureperformanceinclude,but arenotlimitedto:(i)marketacceptanceofourserviceofferings;(ii)volatilityrelatedto(a)theBrazilianeconomy andthecapitalmarkets,and(b)thehighlycompetitiveindustryinwhichBM&FBOVESPAoperates;(iii)changesin (a)domesticandforeignlegislationandtaxation,and(b)governmentpoliciesandtheirimpactonthefinancial andcapitalmarkets;(iv)freshcompetitionfromnewentrantstotheBrazilianmarkets;(v)ourabilitytokeepup withrapidchangesintechnology,includingastotheimplementationofenhancedfunctionalitiespromptedby customerdemand;(vi)ourabilitytosustainacontinuousandcompetitiveproductandservicesdevelopment process,whereasmaintainingthecompetitivenessofexistingofferings;(vii)ourabilitytoattractnewcustomers, whetherbasedinBrazilorelsewhere;(viii)ourabilitytoexpandourproductofferingstoothercountries.These forwardlookingstatementsspeakonlyasofthedateofthispresentation,andBM&FBOVESPAundertakesno obligationtopubliclyupdateorreviseanyoftheminlightofnewinformationorfuturedevelopments.This presentationdoesnotconstituteanoffertosellorasolicitationofanoffertobuyanysecuritiesofthecompany, norshalltherebeanysaleofsecuritiesofthecompanyinanyjurisdictioninwhichsuchofferorsalewouldbe unlawfulpriortoregistrationorqualificationundertherelevantsecuritieslaw.Noofferingshallbemadeexcept bymeansofaprospectuspreparedpursuanttotherequirementsofBrazilianSecuritiesCommission(CVM)Ruling 400of2003,asamended.
2

ADJUSTEDOPEXBUDGET
2013Budget:R$560580million,thesamerangeof2012
Focusoncostcontrol: in2013,inflationarygrowthwillbeneutralizedbyhigher , yg y g efficiency

ExpensesCAGR(201013): 1.6%pa

<

InflationCAGR(20102013) 5.8%pa

(inR$millions)

560580 585

560580

544

2013budgetin the same range of 2012

2010A
1

2011A

2012E

2013E

Adjusted bydepreciation,stockoptionprogram,taxondividendsfromCMEGroupandprovisions. Expenses growth considering the midpoint budgetfor2013(R$570million)and estimated IPCAfrom BCBFocus Bulletin (November 30,2012). 3

CAPEXBUDGET
2013Budget:R$260290million 2014Budget:R$170200million 2014 Budget: R$170200 million
InvestmentsclosetoR$1.2billionbetween2010and2014inprojectsbelow: Capexreductionstartingfrom2014
230260 230 260 268 260290 170200 204 2011A 2012E 2013E 2014E
(inR$millions)

2010A

3Q101Q13:PUMATradingSystem 20112014:Clearinghouses integration /CORE 4Q124Q14:DataCenter 2Q123Q13:OTC 20102014:Improvementsininfrastructure 4

BM&FBOVESPA Investor Relations

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