Earnings%20 Release%201 Q09%20 %20 Presentation

EarningsEarnings ReleaseRelease

1Q091Q09

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Disclaimer: Disclaimer: This presentation contains forward-looking statements

relating to the business outlook, operating and financial projections, and the growth prospects of Tempo Participações S.A. These statements merely represent projections and as such are based exclusively on Management’s expectations about the future of the

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business. Such forward-looking statements depend substantially on changes in market conditions, the performance of the Brazilian economy, the industry and international markets, and therefore are subject to change without prior notice.

AboutAbout TempoTempo

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HighlightsHighlights

New Assistance Contracts: Tempo signed news contracts with Minas Brasil (Zurich Group) and Bancodo Brasil;

Stock Buyback Program: In 1Q09, Tempo purchased 2,6MM TEMP3 shares representing a R$7,5MMinvestment;

EBITDA: Posted a solid growth of 10,7% QoQ, reaching R$18MM;

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EBITDA: Posted a solid growth of 10,7% QoQ, reaching R$18MM;

EBITDA Margin: Increase of 1,1 p.p. QoQ at 10,4% margin.

Tempo Tempo ConsolidatedConsolidated

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HealthHealth SegmentSegment

Beneficiaries (in Millions)

Soft growth of 2,2% in the HealthSegment´s beneficiaries base.

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Net Revenues (in R$Million)

Higher medical utilization by our clients hada positive impact in net revenues.

HealthHealth SegmentSegment

Cost of Rendered Services (in R$Million) SG&A Expenses (in R$Million)

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EBITDA (in R$Million)

Higher medical utilization by Gama SaúdeClients (worsened ebitda margin)

Processes internalization in Gama Saúde toimprove its service level

Efectiva increase in loss ratio driven byintegration & investments to improve theservice provided

Dental Dental SegmentSegment

Beneficiaries (in Millions)

Strong growth in total lives coveredreaching 849 thousand lives.

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Dental Dental SegmentSegment

Net Revenues (in R$Million)

The Dental Segment in the 1Q09 grew68,4% QoQ, showing significant gainsdirectly correlated with its growingbeneficiary base.

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beneficiary base.

Dental Dental SegmentSegment

Through M&A activity, Tempo changedits Dental business model, impacting itsloss ratio profile

Cost of Rendered Services (in R$Million)

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Dental loss ratio track record

Dental Dental SegmentSegment

Selling, General & Administrative Expenses (in R$Million)

SG&A had a determinant impact drivenby M&A activity in 2008.

SME clients and Affinity channel demandhigher investments in brokerage fee andcommissions

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Increase of 22,9% in the DentalSegment´s EBITDA reaching R$5,0MM.

Ebitda margin impacted by SG&Aexpenses

commissions

EBITDA (in R$Million)

AssistanceAssistance SegmentSegment

Items (in Millions)

Assistance 1Q09 impacted by Bradescocontract termination.

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Net Revenues (in R$Millions)

Accounting changes translates in aincrease in Net Revenues

Costs of Rendered Services (in R$Million)

AssistanceAssistance SegmentSegment

Accounting changes translates in aincrease in cost of rendered services

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Assistance Loss Ration Curve adjusted to accounting changes

AssistanceAssistance SegmentSegment

Selling, General & Administrative Expenses (in R$Million)

Strong improvement in SG&A marginboosted by efficiency processes (5p.p.margin improvement).

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Robust growth in EBITDA, posting25.3% growth over the same period in2008, despite the reduction in top-line.

EBITDA (in R$Million)

CAPEXCAPEX

CAPEX

Tempo ended 1Q09 with CAPEX at R$1,9 Million representing 10,6%of Adjusted EBITDA.

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BuybackBuyback ProgramProgram & TEMP3& TEMP3

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Tempo ParticipaçõesTempo Participações

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Investors Relations

+55 -11 - 4208 – 8025

ri@tempopar.com.br