3Q13 Earnings Presentation

November 8, 2013

Forward Looking Statements

This presentation may contain certain statements that express the managements expectations, beliefs and assumptions about future events or results. Such statements are not historical fact, being based on currently available competitive, financial and economic data, and on current projections about the industries BM&FBOVESPA works in. The verbs anticipate, believe, estimate, expect, forecast, plan, predict, project, target and other similar verbs are intended to identify these forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from those projected in this presentation and do not guarantee any future BM&FBOVESPA performance. The factors that might affect performance include, but are not limited to: (i) market acceptance of BM&FBOVESPA services; (ii) volatility related to (a) the Brazilian economy and securities markets and (b) the highly-competitive industries in which BM&FBOVESPA operates; (iii) changes in (a) domestic and foreign legislation and taxation and (b) government policies related to the financial and securities markets; (iv) increasing competition from new entrants to the Brazilian markets; (v) ability to keep up with rapid changes in technological environment, including the implementation of enhanced functionality demanded by BM&FBOVESPA customers; (vi) ability to maintain an ongoing process for introducing competitive new products and services, while maintaining the competitiveness of existing ones; (vii) ability to attract new customers in domestic and foreign jurisdictions; (viii) ability to expand the offer of BM&FBOVESPA products in foreign jurisdictions. All forward-looking statements in this presentation are based on information and data available as of the date they were made, and BM&FBOVESPA undertakes no obligation to update them in light of new information or future development. This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities where such offer or sale would be unlawful prior to registration or qualification under the securities law. No offering shall be made except by means of a prospectus meeting the requirements of the Brazilian Securities Commission CVM Instruction 400 of 2003, as amended.
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3Q13 vs. 3Q12 Highlights

Solid results despite the challenging environment
FINANCIAL HIGHLIGHTS
Total revenue: R$596.8 million, +2.7% BOVESPA seg.: R$257.1 million, -2.4% BM&F seg.: R$228.6 million, +4.3%

OPERATIONAL HIGHLIGHTS
BOVESPA segment: ADTV: R$7.2 billion, +0.8% Margin: 5.361 bps, -6.4% BM&F segment: ADV: 2.5 million contracts, -7.5% RPC: R$1.404, +10.6% High growth products and market segment: Securities Lending: +26.0% average of open interest

Other revenue: R$111.0 million, +12.5%

Net revenue: R$535.4 million, +2.6% Adjusted expenses: R$150.2 million, +10.4%

Operating income: R$341.3 million, -1.6%

Adjusted net income: R$403.7 million, +0.8% Adjusted EPS: R$0.211, +1.7% Dividends: payment of R$225.3 million in 3Q13, R$0.118 per share (80% of GAAP net income) EBITDA: R$417.1 million, +2.2% and margin of 77.9%
(according to CVM Rule 527/12 that does not exclude equity method accounting).
1Expenses

LCAs (agribusiness credit bills): assets registered +190.6% (R$73.8 billion in Sep/13)
HFTs: volumes increased 32.8% in the Bovespa Segment and 19.6% in the BM&F segment

MAIN PROJECTS AND UPDATES

Ibovespa: new methodology announced in Sept/13 Changes in options fee policy: volume discounts for all day trade transactions in the options on single stock market, in line with the change announced for cash equity in Mar/13 Fixed income fee policy: changes regarding new issuances analysis, custody, account maintenance and trading SMEs: proposals for developing the access market
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adjusted to Companys depreciation, stock options plan, tax on dividends from the CME Group and provisions. 2Net income adjusted by: i) the effect of deferred liability recognition in connection with temporary differences from amortization of goodwill for tax purposes; ii) the impact of the stock options plan; iii) investment in affiliates (CME Group) accounted for under the equity method, net of taxes; and iv) taxes paid overseas to be compensated.

BOVESPA Segment Performance

Flat ADTV despite the challenging environment
AVERAGE DAILY TRADING VALUE (ADTV) AND TRADING MARGIN 3Q13 vs. 3Q12:
ADTV: R$7.2 bn (+0.8%): Increased turnover velocity, which reached 73.7% 32.8% increase in HFTs volumes
5.728 5.573
5.706 5.314 5.361

2.2% decrease of average market capitalization

Margin: 5,361 bps vs. 5,728 (-6.4%): Lower fees from options on single stocks, reflecting higher volumes of market makers

7.2
3Q12

7.0
4Q12

7.5
1Q13

8.3

7.2
3Q13

2Q13
Margin (bps)

ADTV (R$ billions)

Higher participation of HFTs in the overall ADTV

TRADING MARGIN (in basis point - bps)

Market
Cash market Derivatives on single stocks Options Market Forward Market Total BOVESPA

AVERAGE MARKET CAP. AND TURNOVER VELOCITY

3Q12 5.308 13.788 14.091 12.999 5.728

3Q13 4.989 13.007 13.010 12.998 5.361

BM&F Segment Performance

Higher RPC offsets volumes fall
AVERAGE DAILY VOLUME (ADV) AND AVERAGE REVENUE PER CONTRACT (RPC)
3Q13 vs. 3Q12: ADV: 2.5 million contracts (-7.5%): -15.4% ADV of Brazilian Real interest rate contracts, +8.8% ADV of FX contracts and +22.3% ADV of minisized contracts RPC: +10.6% (mix effect and FX rate appreciation): Brazilian Real interest rate: lower participation in overall volume; and higher RPC (+4.8%) due to lengthening of contracts
(in millions of contracts)

FX and USD Interest rate contracts (+12.4% and +25.0%, respectively): FX rate appreciation (USD/R$)

REVENUE PER CONTRACT AND FX RATE

(in R$) ~45% of derivatives revenue was priced in USD in 3Q13

INTEREST RATES IN R$ - ADV BY MATURITY

(in millions of contracts)

*Average

FX rate (R$/US$) in the quarter, considering the closing price for each month.

Revenue Breakdown in 3Q13

Diversified revenue sources as a differential
REVENUE BREAKDOWN

CASH MARKET TRADING REVENUE ACCOUNTED FOR 6.2% OF TOTAL

DERIVATIVES REVENUES (BM&F + BOVESPA) ACCOUNTED FOR 42.2% OF THE TOTAL

37.6%: Cash Market 6.2%: Trading

6.2% 20.2%

31.4%: Post-Trade 4.6%: Stock and Indices Derivatives2

2.8% 2.3% 14.4%

Total Revenue 31.4% R$596.8 million

37.6%: Financial/Commodity Derivatives2 18.1%: Brazilian Real interest rate contracts 14.4%: FX Contracts 2.3%: USD interest rate contracts 2.8%: Other Financial/Commodity Derivatives 20.2%: Other Revenues 4.3%: Securities Lending 5.1%: Depository, Custody and Back-Office 3.0%: Vendors 1.9%: Trading Access 2.0%: Listing 6

4.6% 18.1%

Revenue breakdown for the cash market (trading + post-trade) reflects the pricing policy changes which came into force in Apr/13. i) Reduction of trading fee to 0.5 bps from 0.7 bps for all investors ii) Post-trade increase to 2.0 bps from 1.8 bps for institutional investors and day trades 2Trading and Post-trade

The Business Model Strengthens

Resilience from diversified revenue sources Bovespa Segment new clients, products development and higher market sophistication
Revenues in R$ millions

Revenues have been supported by a higher turnover velocity CAGR 2009-13 8.7% - HFTs - Options on single stocks - Securities lending activity - Strategies

BM&F Segment credit expansion, volatility, FX rate changes and market sophistication
Revenues in R$ millions

CAGR 2009-13 15.5%

Revenues from the two most significant groups of contracts are growing consistently - Market sophistication, volatility and the recent currency depreciation

Other revenue development of markets and new products and services

Revenues in R$ millions

Revenues from selected products growing consistently CAGR 2009-13 9.6% - Sec. lending also complements cash, option and future markets - Tesouro Direto and LCAs as part of the Companys strategy in the fixed income market 7

3Q13 Expenses
Continuous focus on cost control and operational efficiency
TOTAL EXPENSE BREAKDOWN ADJUSTED EXPENSE
(in R$ millions)

Expense: R$194.1 million

ADJUSTED EXPENSE INCREASED 10.4% OVER 3Q12 IN LINE WITH THE 2013 BUDGET (R$560-580 MILLION)
Adjusted Personnel: +16.9%, basically due to the effects of annual union bargain in Aug/13 and decrease in capitalized personnel costs related to ongoing projects. Data processing: +31.8%, due to higher expenses for services and maintenance of software and hardware that support IT platforms recently deployed. Third Party: -34.8%, due to lower costs with consulting and legal advisors.

*Includes expenses with maintenance in general, marketing, communication, taxes adjusted by the dividends from CME Group, board and committee members compensation and others (excluding provisions).

Financial Highlights
Returning cash to shareholders
CASH AND FINANCIAL INVESTMENTS
(In R$ millions)

RETURN TO SHAREHOLDERS BUYBACK PROGRAM

From Jul/13 to Oct/13, 13.1 million shares were repurchased, totaling R$158.9 million (more than 0.6% of the Companys capital stock)

The current buyback program allows BM&FBOVESPA to repurchase up to 60 million shares until Jun/14.

PAYOUT

Market participant cash collateral includes R$0.7 billion

pledged in the FX Clearinghouse that was settled on Oct 1st, 2013.

Payment of R$225.3 million in dividends, equivalent to R$0.118 per share and 80% of GAAP net income Payment on Nov. 27, 2013 based on shareholders position dated Nov. 11, 2013

FINANCIAL RESULTS
Financial result of R$49.6 million, up 8.9% YoY Financial income up 16.9%, reflecting, basically higher interest rates Financial expenses rose 33.4%, reflecting the currency depreciations impact on the interest of notes issued overseas
*Includes collateral pledged by participants in the form of cash, receivables and rights in securities under custody, as well as payouts still undisbursed. **Includes third party collateral and restricted funds at BM&FBOVESPA Settlement Bank (Banco BM&FBOVESPA).

CAPEX
In 3Q13, investments amounted to R$82.1 million, totaling R$202.5 million in 9M13 CAPEX budget ranges: 2013: between R$260 290 million 2014: between R$170 200 million (under review)

High growth products

Increasing revenue diversification
OPERATIONAL FIGURES
CAGR: +181% CAGR: +27%

REVENUE

CAGR: +39%

CAGR: +56%

CAGR: +35%

CAGR: +280%

CAGR: +37%

Strong revenue growth of selected products In 9M13, representing 7.6% of total revenue, or R$141.4 million Products well received by clients Continuous developments to maintain strong growth trend
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Update on Strategic Initiatives

New Methodology for Ibovespa
Changes include: Index weighting by market value of the companies free float; recasting of the negotiability index, new criteria for inclusion, permanence/exclusion of the portfolio and participation caps for companys securities in the index Two phases of implementation: (i) the portfolio in effect from Jan. to Apr. 2014; and (ii) from May to Aug. 2014

Clearinghouses integration
Survey launched to verify the level of readiness of market participants to the development phases of the new clearinghouse (derivatives) Will provide information for preventive, support and risk mitigation actions Derivatives market clearinghouse scheduled to begin operating in 1Q14. Thereafter, the migration process for the equity module will start

Changes to the pricing policy for:

Option on single stocks market: discounts per tier of volume for day traders; to be implemented in Dec/13 with the second phase of changes in cash equities market (discounts per tier of volume for day traders and progressive reduction of trading fees per tier of global volume). Fixed-Income Securities: include fee changes on new issuances analysis, custody, account maintenance and trading; implemented in Oct/13

Initiatives for Small and Medium Enterprises (SMEs)

Establishment of the Technical Committee for Smaller Offerings composed of private sector and government agencies Developing proposals to facilitate capital raising through issuance of shares (incentives for SMEs, investors and intermediaries) Project was presented to the Ministry of Finance in Jul/13 Proposal of changes in BM&FBOVESPAs listing segments
IPN/CORE implementation requires the authorization of the regulators.

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Final Remarks

REVENUES AND RESULTS Resilient revenues and results in a challenging market environment Growing diversification of products and revenues INVESTMENTS Commitment with the maintenance of market integrity Strengthening the competitive edge by delivering efficiency to the market FOSTERING CLIENTS AND MARKET Strengthening ties with market participants and clients Becoming a one-stop-shop by increasing the diversity of products for clients

COMMITMENT TO CAPITAL RETURN FOR SHAREHOLDERS Maintained focus on cost control High payout ratio combined with share buyback
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APPENDIX

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Summary of Balance Sheet (Consolidated)

ASSETS LIABILITIES AND SHAREHOLDERS EQUITY

(in R$ millions) Current assets Cash and cash equivalents Financial investments Others Non-current assets Long-term receivables

9/30/2013 3,940.9 754.7 2,978.6 207.6 21,351.2 1,040.3

12/31/2012 3,536.3 43.6 3,233.4 259.3 20,610.8 808.9

(in R$ millions) Current liabilities Collateral for transactions Others Non-current liabilities Debt issued abroad Deferred inc. tax and social contrib.

9/30/2013 2,287.1 1,617.9 669.2 3,667.3 1,357.0 2,156.6

12/31/2012 1,660.6 1,134.2 526.4 3,072.6 1,242.2 1,739.6

Financial investments
Others Investments Property and equipment, net Intangible assets Goodwill Total Assets

764.5
275.8 3,270.0 391.8 16,649.1 16,064.3 25,292.1

573.6
235.2 2,928.8 361.0 16,512.2 16,064.3 24,147.1

Others
Shareholders' equity Capital Capital reserve Others Non-controlling interests Liabilities and Shareholders' Equity

153.7
19,337.6 2,540.2 16,051.5 730.1 15.8 25,292.1

90.7
19,413.9 2,540.2 16,037.4 820.3 16.0 24,147.1

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Reconciliation 2Q13
ADJUSTED NET INCOME RECONCILIATION
(in R$ millions, unless otherwise indicated) GAAP net income* Stock options plan Deferred tax liabilities Equity in income of investees (net of taxes) Recoverable taxes paid overseas Adjusted net income
* Attributable to BM&FBOVESPA shareholders.

3Q13 281.6 5.6 138.9 38.2 15.8 403.7

3Q12 276.5 7.8 134.8 32.6 14.1 400.6

Change 3Q13/3Q12 1.8% -28.0% 3.1% 17.4% 11.7% 0.8%

2Q13 350.8 7.8 138.9 46.3 18.3 469.6

Change 3Q13/2Q13 -19.7% -28.1% 0.0% -17.4% -13.7% -14.0%

ADJUSTED EXPENSES RECONCILIATION

(in R$ millions, unless otherwise indicated) Total Expenses Depreciation Stock options plan Tax on dividends from the CME Group Provisions Adjusted Expenses

3Q13 194.1 (32.5) (5.6) (5.1) (0.6) 150.2

3Q12 174.8 (24.1) (7.8) (4.7) (2.1) 136.0

Change 3Q13/3Q12 11.1% 35.0% -28.0% 9.5% -70.5% 10.4%

2Q13 176.8 (28.8) (7.8) (5.1) (1.9) 133.2

Change 3Q13/2Q13 9.8% 12.8% -28.1% 0.2% -66.5% 12.8%

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Summary of Income Statement (consolidated)

3Q13 Net Revenues 535.4 341.3 63.7% 43.3 49.6

3Q12 521.6 346.8 66.5% 37.2 45.5

Change Change 2Q13 3Q13/3Q12 3Q13/2Q13 2.6% -1.6% -275 bps 16.4% 8.9% 599.8 423.0 70.5% 51.4 43.1 -10.7%

Expenses
Operating Income Operating margin Equity in Income of Investees Financial Result

(194.1) (174.8)

11.1% (176.8)

9.8%
-19.3% -678 bps -15.7% 15.1%

EBT
Net Income* Adjusted Net Income Adjusted EPS (in R$) Adjusted Expenses

434.2
281.6 403.7 0.211

429.6
276.5 400.6 0.208

1.1%
1.8% 0.8% 1.7%

517.5
350.8 469.6 0.244

-16.1%
-19.7% -14.0% -13.5% 12.8%

(150.2) (136.0)

10.4% (133.2)

* Attributable to BM&FBOVESPA shareholders.

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www.bmfbovespa.com.br/ir

BM&FBOVESPA Investor Relations Dept.

+55 (11) 2565-4729 / 4418 / 4834 / 4207 / 4007 / 7073 ri@bmfbovespa.com.br