• In November of 2013, the shareholders of PGS Participações signed an agreement to sell an 80% stake in PGS Participações to Bloomin’ Brands, equivalent to 40% of PGS, the controlling entity of Outback Steakhouses in Brazil.

• Upon the transaction conclusion:

– Bloom Participações, a fully owned subsidiary of Bloomin’ Brands, assumed control and increased its stake in the Outback Steakhouse operations in Brazil from 50.0% to 90.0%

– The Brazilian Shareholders reduced their indirect stake in PGS from 50.0% to 10.0%

– The main executives will remain with the company after the transaction

• The transaction was in line with Bloomin’ Brands’ global expansion strategy to increase their operations in highmargin and fast-growing countries

• Bloomin’ Brands, Inc. is one of the largest casual dining restaurant companies in the world. The portfolio of five founder-inspired brands is comprised of Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, Fleming's Prime Steakhouse & Wine Bar and Roy's with nearly 1,500 restaurants in 48 states, Puerto Rico, Guam and 21 countries

• The Outback operations in Brazil operates 47 restaurants in 10 States and has been recognized with numerous awards

– Nine of Outback’s 10 highest grossing restaurants are located in Brazil