TENDA Brazil Real Estate Conference New York

TENDA Brazil Real Estate Conference – New York, September 15, 2009 1

Disclaimer The material that follows is a presentation of general background information about TENDA S. A. (collectively, “TENDA” or the “Company”) as of the date of the presentation. It is information in summary form and does not purport to be complete. No representation or warranty, express or implied, is made concerning, and no reliance should be placed on, the accuracy, fairness, or completeness of this information. This presentation may contain certain forward-looking statements and information relating to TENDA that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like “believe, ” “anticipate, ” “expect, ” “envisages, ” “will likely result, ” or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation. In no event, neither the Company nor any directors, officers, agents or employees shall be liable before any third party (including investors) for any investment or business decision made or action taken in reliance on the information and statements contained in this presentation or for any consequential, special or similar damages. The market data, including forecasts used throughout this presentation was obtained from internal surveys, market research, publicly available information and industry publications. Although we have no reason to believe that any of this information or these reports are inaccurate in any material respect, we have not independently verified such data. TENDA does not make any representation as to the accuracy of such information. This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in part without TENDA’s prior written consent. 2

TENDA Overview Ø Homebuilder Founded in 1969 with Exclusive Focus on the Affordable & Entry Level Market Ø National Presence in 64 High-Growth Metropolitan Areas Ø Network of 32 Stores Staffed by Tenda’s Well-trained, Dedicated Sales Force Ø Standardized, Large Scale Projects with a Short Construction Cycle Ø Broad Product Portfolio with Unit Prices of R$60 K – R$200 K Ø 2008 – Attracted Strategic Investors and New Management Team 3

Strong Government Support of the Housing Sector 5

Capturing the Market Opportunity • Knowledge of the Target Market Ø Focus: Pure Play Ø Right Products Ø Strong Brand • Nationwide Footprint to Address Housing Deficit Ø Unique Sales Model Ø Land Bank • High Operating Efficiency and Execution Capacity Ø Scalable Model Ø Strong Balance Sheet Ø Strong Integration with Caixa 6

Pure Play in the Fastest Growing Segment Long-term dedication to the affordable segment has prepared TENDA to deliver on the “Minha Casa Minha Vida” (MCMV) Government Program 2008 Sales - R$ 901 MM 83% - MCMV Program 1 H 09 Sales – R$ 620 MM 88% - MCMV Program In 2008, TENDA was the Market Leader in launch of units under R$90, 000, with 63% market share. 8

Broad Product Portfolio in the Affordable Segment TENDA’s suite of entry-level products offer high value at the lowest price points in the industry. Type GARDEN DUO LIFE TOWER PREMIUM Ground level homes Homes with 2 floors 4 – 5 story buildings, with no elevator Buildings with elevators Average Unit Size 51. 0 m 2 38. 0 m 2 46. 5 m 2 39. 5 m 2 66. 5 m 2 46. 0 m 2 70. 0 m 2 45. 0 m 2 70. 0 m 2 Average Price (R$’ 000) R$ 64. 4 R$ 78. 3 R$ 76. 8 R$ 91. 9 R$ 118. 0 Description Entry level Economic level Earnings of 3 -6 minimum monthly wages Earnings of 6 -10 minimum monthly wages 9

Customers Have a Positive View of the TENDA Brand A recent independent study revealed the top 10 reasons why customers purchase from TENDA: TENDA (%) 1) Powerful sales/advertising 93 2) Easy to deal with 79 3) Respectful of clients 75 4) Employees are well prepared to address client questions 74 5) Trust in company 71 6) Commitment to client satisfaction 70 7) Feeling of “security” as client of TENDA 70 8) Transparency of the process 69 9) Tenda cares about its clients 68 10) The best option to buy houses and apartments 64 Totally agree Partially agree Source: EP – Escritório de Pesquisa 10

Differentiated Sales Model TENDA’s sales model provides a higher level of convenience to customers, offering a broad range of products through strategically located retail stores. TENDA Sales Model Traditional Model Sales through individual stands at each development • Sales through centralized stores, offering multiple developments • Streamlined sales process S S S • Typically uses third-party real estate brokers • Sales stand exclusive to one development S • Dedicated, well-trainedsales force helps our customers to obtain appropriate unit and financing • Retail stores located in high traffic areas • Stores offer a broad variety of products and locations to best meet customer needs 11

Retail Presence & Positive Buying Experience Builds Brand TENDA’s extensive network of retail stores staffed with knowledgeable sales professionals contributes to TENDA’s brand recognition in the target market 32 Stores Located in High-Traffic Areas Over 20, 000 Customers Visit Our Stores Every Month 12

Positioned in States that Account for 82% of Housing Deficit TENDA’s land bank of R$5. 5 billion is distributed across major metropolitan markets with high growth potential By Price Range – 2 Q 09 Landbank for 744 units Landbank for 6, 033 units Landbank for 6, 000 units Housing Program By Region – 2 Q 09 Landbank for 44, 252 units Landbank for 4, 692 units Sources: E&Y and FGV 13

Operational Model Enhances Execution Capacity Ø Standardized, Large Scale Projects Ø 16 Items represent about 90% of TENDA’s construction cost 19, 765 units under construction Ø Hybrid Approach to Construction Ø 39 construction partners supplemented by proprietary team of professionals Ø Greater flexibility in resource allocation, more efficient construction management and higher productivity. Ø Innovative Processes & Technology Shorten Construction Cycle Ø Improves returns and shortens construction and working capital cycles Ø Example: New aluminum mold-based construction method reduced the construction cycle from 10 to 6 months (Cotia) New Aluminum Mold-Based Construction 14

Shortening the Construction Cycle Example: SUPER 6 Ø 6% Down payment Ø First monthly installment: 6 months later Ø Guaranteed delivery in 6 months Deadline Delivery for Units SUPER 6 Construction 7 th to 19 th month Launch 1 st to 6 th month STANDARD 1 st 2 nd to 4 th 20 th Delivery Month 1 st month: Launch 2 nd to 4 th month: Construction 6 th month: Delivery 6 th Income necessary for acquisition Down payment Standard Super 6 During the Construction 20% 6% Mortgage Financing 80% - 94% 15

Caixa Debenture Strengthens Financial Position ► As of June 30 th, 2009, TENDA’s cash was R$ 656. 9 million, net debt to equity was 9. 0% 16

Benefiting Clients through a Strong Relationship with Caixa Project Financing Corporate Credit Profile Financing Projects Approval Ø 26, 000 units under approval Ø 2, 000 units / month Ø R$ 600 MM – Debenture Ø R$ 120 MM – Project Finance Mortgage Financing Credit Analyses Ø Full compliance with CAIXA standards Customer Portfolio Monitoring Ø Maintenance of the right profile Tenda operational standards Bank Representative Ø 6 regions: 80% of Sales Ø 3, 000 customers in 2009 CAIXA operational standards 17

Tenda is Best Positioned to Meet Market Needs Ø Pure Play in the Fastest Growing Segment of the Brazilian Housing Market Ø High Value Products at Lowest Price Points Ø Strong Brand Equity in Target Market Ø Unique Business Model Supported by Targeted Sales Approach and National Land bank Ø Scalable Execution Capacity Ø Experienced Management Team Supported by Strong Strategic Partners Ø Financial Strength to Drive Sustainable Growth 18

Construtora. Tenda S. A. Engenheiro Luiz Carlos Berrini Avenue, 1. 376, 9º Floor, Brooklin Paulista São Paulo, SP, 04571 -000 Bovespa: TEND 3 Marcus Thieme IR Contact: RI@tenda. com. br +55 (11) 3040 -6426 www. tenda. com 19