1/18 Grupo

Romeu Côrtes Domingues

Chairman

Dickson Esteves Tangerino

CEO

Octávio Fernandes

VP of Operations

Antônio Carlos Gaeta

VP of Busines

Márcio Fernandes VP Administrative and Financial

Paulo Bokel

IR and Finance Officer

ir@dasa.com.br

Tel.: (011) 4197-5410

Fax: (011) 4197-5516

www.dasa3.com.br

TELECONFERENCES Portuguese

Date: 05/13/2014

Time: 10h00 (Brasília)

Tel.: 11 2188-0155

Password: DASA

English

Date: 05/13/2014

Time: 12h00 (Brasília)

Phone.: 1 (412) 317-6776

Password: DASA

DASA ON Bovespa: DASA3

Most recent quotation:

05/12/2014: R$13.37

Average daily trade volume

1Q14:

R$ 20.0 milllion

Market value

R$ 4.2 billion

US$ 1.8 biillion

Free Float: 25.3%

1st QUARTER RESULTS

DASA announces Gross Revenue

growth of 14.5% and EBITDA Margin of

17.0% in 1Q14

2/18 Grupo

DISCLAIMER

This document contains forward looking statements that can be identified by words like “hope,” “plan,”

“expect,” “believe,” “seek,” “estimate” and similar words. The information in this presentation

regarding forward looking statements of the Company, including business prospects, and operating,

financial, and growth projections are only predictions based on management expectations regarding

future performance. These estimates are highly dependent on the performance of the Brazilian

economy, industry and international market conditions. Therefore, they are subject to change.

3/18 Grupo

HIGHLIGHTS AND RECENT FACTS

GROWTH

GROSS REVENUE reached R$ 733 million in 1Q14 (+14.5%)

STRONG growth in OUTPATIENT (+14.5%) and LAB TO LAB (+22.8%)

23 PSCs REMODELING delivered in 1Q14, 12 in progress and 3 new units

QUALITY

Approval of 48 PAPERS for the 2014 AACC

Inauguration of the SECOND LAB-TO-LAB CENTRAL LAB in Cascavel

SÃO PAULO CENTRAL LAB EXPANSION with a focus on Lab-to-Lab

Beginning of the implementation of a pioneering FULL AUTOMATION project in Brasília

Acquisition of a Toshiba Aquillion one Vision 320-CHANNEL CT SCAN (the first in Latin America)

RETURN FOR THE SHAREHOLDER

EBITDA of R$ 112.6 million in 1Q14, 13.6% more than 1Q13, reaching a margin of 17.0%

OPERATING CASH FLOW of R$ 37.3 million in 1Q14

CASH NET INCOME of R$ 29.0 million in 1Q14

4/18 Grupo

GROSS REVENUE (R$ MILLION)

Gross revenue reached R$ 733 MILLION in 1Q14, a growth of 14.5%

432.8

497.5

207.7

235.5

1Q13 1Q14

RID Clinical Analysis

640.4

733.0

15.0%

13.4%

14.5%

67.6%

32.4%32.1%

67.9%471.3 539.5

61.0

67.864.4

79.143.7

46.6

1Q141Q13

Outpatient Inpatient Lab to Lab Public Sector

6.8%

10.1%

14.5%

22.8%

14.5% 73.6%

10.8%640.4

73.6%

6.4%6.7%

733.0

9.3%

9.5%

11.1%

5/18 Grupo

GROSS REVENUE | PATIENT SERVICE CENTERS

RDI growth acceleration

Mix of HIGHER COMPLEXITY (RDI) EXAMS AND A HIGHER NUMBER OF EXAMS PER

REQUISITION increase the average requisition price

GROSS REVENUES (R$ MILLION) AVERAGE REVENUE PER REQUISITION (R$) AND

VOLUME (MILLIONS)

284.1

326.2

187.2

213.4

1Q13 1Q14Clinical Analysis RID

60.3%

39.7%

471.3

539.5

39.5%

60.5%

14.0%

14.5%

14.8%

3.5 3.8 3.8 3.5 3.6

134.0 133.7 138.9

146.3 148.6

1Q13 2Q13 3Q13 4Q13 1Q14

6/18 Grupo

GROSS REVENUE | HOSPITALS

GROSS REVENUES (R$ MILLION) AVERAGE REVENUE PER REQUISITION (R$) AND

VOLUME (MILLIONS)

REQUISITIONS AVERAGE REQUISITIONS PRICE

GROWTH of 11.1% despite operating with selectivity

Impact of NEW CONTRACTS which began operations in 1Q13

Increase in average ticket with implementation of NEW SERVICES and focus on INCREASING

PROFITABILITY

47.7 53.8

13.4

14.1

1Q13 1Q14

Clinical Analysis RID

78.1%

21.9%

61.0 67.8

20.8%

79.2%12.8%

11.1%

5.4%

1.1 1.1 1.0 1.0 1.0

56.3 64.7

68.9 68.5 68.6

1Q13 2Q13 3Q13 4Q13 1Q14

7/18 Grupo

GROSS REVENUE | LAB-TO-LAB

GROSS REVENUES (R$ MILLION) PERFORMANCE

20.7% increase in REVENUE per laboratory

Focus on GREATER CAPILLARITY and IMPROVING THE MIX OF EXAMS

64.4

79.1

1Q13 1Q14

22.8%

4,984

5,072

12.9

15.6

1Q13 1Q14

# of Laboratories Average Revenue/Laboratory (in Th R$)

88

8/18 Grupo

GROSS REVENUE | PUBLIC HOSPITALS AND CLINICS

GROWTH due to same clients expansions

Selectivity in the CHOICE OF NEW CUSTOMERS

GROSS REVENUES (R$ MILLION) PERFORMANCE

43.7 46.6

1Q13 1Q14

6.7%

588 596

74.378.2

1Q13 1Q14

# collecting site Revenue per collecting sites

8

9/18 Grupo

COSTS

PERSONNEL: improved management of human resources and benefits package

MATERIAL: strong growth of lab-to-lab and changes on mix (Lab-to-Lab market x Public sector)

SERVICES AND UTILITIES: contracts renegotiation and revenue growth

* Not consider depreciation

1Q14 4Q13 1Q13 1Q14 4Q13 1Q13∆ 1Q14 x

4Q13 %

∆ 1Q14 x

1Q13 %Personnel 124.7 126.0 111.2 18.8% 20.0% 19.1% -1.0% 12.1%

Materials 116.2 113.8 100.5 17.6% 18.1% 17.3% 2.2% 15.6%

Services and Utilities 174.4 167.9 156.9 26.3% 26.7% 27.0% 3.9% 11.2%

General 8.7 7.3 6.2 1.3% 1.2% 1.1% 18.4% 40.4%

Cost of Services Cash 424.0 415.0 374.8 64.0% 66.0% 64.4% 2.2% 13.1%

Depreciation and amortization 28.2 26.2 27.8 4.3% 4.2% 4.8% 7.7% 1.5%

Cost of Services 452.3 441.2 402.6 68.3% 70.2% 69.2% 2.5% 12.3%

In R$ Million Variation %% of Net Revenues

10/18 Grupo

SG&A

GENERAL AND ADMINISTRATIVE: control of expenses, renegotiation of contracts and

contingencies provision

expenses related to the tender offer and CADE (Brazil’s

Antitrust Authority) in the amount of R$4.6 million.

* Not consider depreciation

1Q14 4Q13 1Q13 1Q14 4Q13 1Q13∆ 1Q14

x 4Q13

∆ 1Q14 x

1Q13 %

General and Administrative 115.8 104.9 101.8 17.5% 16.7% 17.5% 10.4% 13.7%

Profit Sharing Program 10.4 3.9 7.6 1.6% 0.6% 1.3% 165.8% 37.1%

Other Operating Revenues/ Expenses (0.7) (8.4) (1.7) -0.1% -1.3% -0.3% -92.0% -60.0%

Operating Expenses Cash 125.5 100.4 107.7 19.0% 16.0% 18.5% 25.0% 16.5%

Depreciation and Amortization 18.1 12.1 14.0 2.7% 1.9% 2.4% 49.8% 29.3%

Operating Expenses 143.6 112.5 121.7 21.7% 17.9% 20.9% 27.7% 18.0%

In R$ Million % of Net Revenues Variation %

11/18 Grupo

ACCOUNTING EBITDA (R$ MILLION)

99.1 110.8

120.7 113.0 112.6

17.0% 17.6% 18.7% 18.0% 17.0%

-

20.00

40.00

60.00

80.00

100.00

120.00

140.00

160.00

00%02%04%06%08%10%12%14%16%18%20%

1Q13 2Q13 3Q13 4Q13 1Q14

Ebitda Ebitda Margin

17.0%17.0%

0.3%

-0.3%

0.6%

-0.2%-0.4%

EBITDA 1T13 Personnnel Materials Services andUtilities

General SG&A EBITDA 1T14

12/18 Grupo

INCOME TAX

* Withholding tax (current): Originally from financial income and withholding of gross revenue

31.1% 30.5%34.0%

-2.9%

56.9% -57.5%

Income Tax Rate permanentsadjustements in

tax books

Income Taxes(Financial

Statements)

Tax Loss/Other GoodwillCompensation

Withholding tax(current)/

Income taxescash*

1Q

14

13/18 Grupo

RECEIVABLES

Provision for and losses due to disallowance and default (% Gross

Revenue ) Average collection period (days)

Provision Rule

91 to 120 days 25%

121 to 180 days 50%

181 to 360 days 75%

More than 361 days 100%

(1) Index coverage = BDP balance/ expired > 120 days

83.8 85.6

82.4 84.4 82.9

86.5

4Q12 1Q13 2Q13 3Q13 4Q13 1Q14

3.6%

3.2%3.6%

4.2%

2.3%

3.7%

4Q12 1Q13 2Q13 3Q13 4Q13 1Q14

% Gross Revenue - Provision for and losses due todisallowance and default

R$ million 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14Accounts receivable 423.7 415.9 432.4 376.8 448.2 467.2 480.7 452.1 496.6

Past due 0-90 74.3 78.0 87.2 94.8 79.5 80.2 84.0 93.9 114.9

Past due 91 - 120 10.7 10.8 8.3 16.1 14.1 9.6 13.7 13.5 14.6

Past due (more than) 120 111.2 113.8 117.6 119.9 118.8 109.4 91.5 80.2 91.9

Provisions (102.7) (106.1) (105.5) (109.2) (107.7) (95.0) (77.3) (67.5) (76.6)

Total Rec. 517.1 512.4 540.0 498.5 552.9 571.3 592.6 572.2 641.5

Coverage Index¹ 92.4% 93.2% 89.7% 91.1% 90.7% 86.9% 84.5% 84.2% 83.3%

14/18 Grupo

BALANCE SHEET MANAGEMENT

697.6

(458.6)

(1,046.5)

(807.4)

DEBT COMPOSITION (R$ million)

Cash and Cash Equivalents

Debt – Short Term

Debt – Long Term

Net Debt**

Operating cash flow is POSITIVE

NET DEBT DECREASES compared to 4Q13 and 1Q13

(*) Excludes R$53.9 million related to the withdrawal of the ICMS tax judicial deposit, in view of the

adhesion to the ICMS/SP in fiscal year 2013, which included all tax debts secured by said deposit. (**) Methodology adopted by fiduciary agent

Management Cash Flow (R$ Million) 1Q14Accounting EBITDA 112.6

Operacional working capital (49.4)

Other working capital accounts* 6.0

Financial expenses (24.6)

Income tax (7.3)

Operational cash flow 37.3

Capex (30.2)

Free Cash Flow 7.1

15/18 Grupo

DEBT PROFILE Debt Cost Evolution

Issuance Year Value (R$MM)

Rate

3ª Issuance 2012 250.0 CDI + 0.80% p.a

4ª Issuance 2013 450.0 CDI + 1.15% p.a

2ª Issuance 2011 700.0 CDI + 1.40% p.a.

Term

4 years

5 years

5years

Financial Covenants

Net Debt Profile (1Q14)

R$ Milion

Debt Amortization Schedule

R$ Milion

Debentures (2ª and 3ª Issuance) DASA FINANCE

Loans

CDI +

R$ 777.6 MM

96.3%

Pré USD

R$ -0.5 MM

-0.1%

% CDI BRL

R$ 29.7 MM

3.7% Pré BRL

R$ 0.7 MM

0.1%

357,3

-

294,3 294.5 224,2 224.4

24,9

7,9

7,9 1,2

68.4

-

- -

- -

2014 2015 CP 2015 LP 2016 2017 2018

Average Cost mar/13 Jun/13 Sep/13 Dec/13 mar/14

% CDI 111.0% 111.0% 111.0% 111.0% 111.0%

CDI + 1.3% 1.2% 1.2% 1.2% 1.2%

Pré BRL 16.4% 16.2% 16.1% 17.6% 17.6%

Pré USD 8.2% 8.2% 2.2% 2.1% 1.9%

Covenants mar/13 Jun/13 Sep/13 Dec/13 mar/14

Gross Debt 1,108.9 1,088.9 1,109.3 1,475.1 1,505.0

Cash and Cash Equivalents 259.6 236.5 252.4 608.9 697.7

Net Debt 849.3 852.5 856.9 866.2 807.3

Ebitda (LTM) 384.1 391.9 404.1 443.6 457.1

Net Financial Expenses (LTM) 102.3 84.9 88.6 86.6 90.2

1º) Net Debt / Ebitda <= 2,5 2.2 2.2 2.1 2.0 1.8

2º) Ebitda / Net Financial Expenses >= 2,0 3.8 4.6 4.6 5.1 5.1

16/18 Grupo

ROIC (*)

(*) NOPAT LTM/mean(working capital + intangible assets + fixed assets – value for Exchange of shares of DASA and MD1)

34% effective rate of Income Tax

Progressive improvement in ROIC

7.6% 7.8%8.3%

10.4%10.5%

1Q13LTM

2Q13LTM

3Q13LTM

4Q13LTM

1Q14LTM

17/18 Grupo

CAPEX

1Q14: 3 NEW PSCs

234.0

144.3

41.3 30.2

2012 2013 1Q13 1Q14

Information TechnologyR$ 9.2 MM

Opening and Expansion of

PSCsR$ 10.2 MM

EquipmentR$ 10.7 MM

OtherR$ 0.1 MM

30.4%

35.5%

0.2%

35.5%

0.2%

35.5%

0.2%

34.0%

18/18 Grupo

MAIN MESSAGES

Growth

Consolidated revenue has

outgrown 2 digits in the

last 4 quarters

Growth in all segments,

led by Lab-to-lab, which

exceeded 20% growth in

the last 4 quarters

2014 CAPEX (capital

budget) of R$200 MM in

2014

Organic growth plan

Technology

Expansion and

modernization of the

Central Labs

Global pioneer in the

Central Lab full

automation concept

Renewal of the RDI center

with state-of-the-art

technology

Results

Discipline in costs, SGA

and CAPEX

Net income of R$ 28.7

million, 21.7% more than

in 1Q13

Increase in earnings per

share

19/18 Grupo

19/18

Q & A

CONFERENCE CALL 1Q14