First Quarter 2012 Results

Rio de Janeiro, May 10, 2012 - Banco BTG Pactual S.A. (“Banco BTG Pactual”) and BTG Pactual Participations Ltd. (“BTGP”, and together with Banco BTG Pactual, the “BTG Pactual Group”) (BM&FBOVESPA: BBTG11 and Alternext: BTGP) today reported combined adjusted total revenues of R$1,603 million and combined net income of R$786 million for the quarter ended March 31, 2012.

Pro-forma net income per unit and annualized return on average shareholders’ equity (ROAE) were R$ 0.98 and 35%, respectively, for the quarter ended March 31, 2012, compared with R$ 0.41 and 18%, respectively, for the quarter ended March 31, 2011.

Total assets and BIS capital ratio (BIS capital ratio is solely applicable to Banco BTG Pactual) were R$134.2 billion and 16%, respectively, as of March 31, 2012 compared with R$112.5 billion and 18%, respectively, as of December 31, 2011.

Press Release - First Quarter 2012: to access the document full version click here.

Next Events
Conference Calls
: May 11, 2012

Portuguese English
Time: 10:30 AM (US ET) / 11:30 AM (Brasilia) Time: 12:00 PM (US ET) / 1:00 PM (Brasilia)
Phone: +55 (11) 2188-0155 Phone: +1 (412) 317-6776
Code: BTG Pactual Code: BTG Pactual
Replay until 05/17: +55 (11) 2188-0155 Replay until 05/17: +1 (412) 317-0088
Code Replay: BTG Pactual Code Replay: 10014073

Participants are requested to connect 15 minutes prior to the time set for the conference calls.

Webcast: To access the live conference call audio through a webcast system, click here.

Quiet Period: BTG Pactual is in the quiet period as its Offer is not still closed and it will only comment on its 1Q12 results during the conference call.

Investor Relations Department
Phone: +55 (11) 3383-2000
Fax: +55 (11) 3383-2001