Quepasa Corporation NYSE Amex: QPSA

Investor PresentationNoble Financial Capital Markets’ Eighth Annual Equity Conference

January 18, 2012

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Cautionary Note Regarding Forward Looking StatementsCertain statements in this presentation and responses to various questions include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained herein are forward-looking statements, including statements regarding the benefits of the merger, integration, moving to one platform, creating the public market leader in social discovery, future growth including expanding internationally, mobile growth including our tablet launch, launch of our second Wonderful City game, launch of paid currency on myYearbook, virtual currency monetization, our future financial performance, our liquidity, increased revenue, our business strategy and the plans and objectives of management for future operations. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include: Quepasa Games’ ability to develop other social games which users are attracted to, the risk that myYearbook and Quepasa.com users will be willing to purchase virtual currency for the various offerings, the effectiveness of the mobile software on smartphones and tablets, international risks including currency fluctuations and political instability, technology development risk including unanticipated technical problems which impede the development of our tablet platform, paid currency and second Wonderful City game, the risk that the Quepasa and myYearbook businesses will not be integrated successfully, and disruption from the merger making it more difficult to maintain business and operational relationships. Further information on our risk factors is contained in our filings with the SEC, including the Form S-4/A filed on October 4, 2011 and our Form 10-K for the year ended December 31, 2010. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

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Public market leader for social discovery

Significant global scale – 8+ million monthly active users (MAU), 2+

million new users, and 2.5 billion page views each month1

Fast-growing mobile applications – now 54% of daily logins. Top 15

Free Social App in Android Marketplace

Robust product pipeline focused on continued growth in mobile,

virtual currency, and international

TTM (4Q10 – 3Q11) Combined Revenue = $36.3 million; Up 47% vs.

prior period

1 – Quepasa.com, myYearbook.com and Wonderful City combined numbers for average month during Q3 2011

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Our mission is to be the best place to meet new people. We

make meeting people fun through social games and apps. Our

social graph is not the people you know but the people you

want to know.

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Social discovery platform: Quepasa.com, 40MM members

Successful social gaming title: WonderfulCity, with strong followings on Facebook, Orkut, and Quepasa

Low-cost software development: Brazil-based social gaming studio, Mexico-based development team

Social discovery platform: myYearbook.com, top 40 U.S. site1

Fast-growing mobile apps: Android and iPhone

Proprietary brand advertising platform: Social Theater delivers branded actions cross-platform through virtual-currency incentive

U.S. Presence: Locations in Pennsylvania, NYC

Two Strong Brands Spanning the Americas

1 – By Page Views, Time Spent, and Minutes per Visitor per month (US comScore)

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Brand Combination Created Significant Scale

Source: quancast.com combined global “People” and “Pageviews” for quepasa.com and myyearbook.com. MAU assumes merger closed on November 1. Quantcast data is independently tracked and available at quantcast.com.

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Pre-merger: Oct 2011 Post-merger: Nov 2011

MA

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Monthly Active Users

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PV

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Weekly Pageviews

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Enables meeting new people in an inviting, fun environment

More pageviews than Twitter, LinkedIn and Match.com

- Source: December 2011 comScore US. Bubbles represent relative size of each property in terms of US page views. Facebook is approximately 1/11 of actual scale. All

others are true to scale.

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Mobile: Majority mobile in 20121

1 – Mobile statistics related to myYearbook only.

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AdvertisingIndustry-leading engagement drives

significant advertising inventory

20 person advertising team direct to

leading agencies

Represented approximately 83% of

9-month 2011 revenue

Virtual CurrencyWonderful City continues to grow. 2nd

game scheduled to launch in Q2 2012

Currency-based actions drive brand

awareness

Paid currency launched on myYearbook in

Q4 2011 and launching on mobile in Q1

2012

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Q3 2011 YTD Revenues Up 32.5% versus same period of 2010 across both businesses Consensus 2012 Revenues = $48.3 to $52.3 million

Quepasa Corporation is providing the information as a service to interested parties. Quepasa

Corporation did not prepare the accompanying research reports and takes no responsibility for their

content.

Engagement metrics showing strong growth Visits and page-view increases demonstrate industry-leading

engagement and drive significant ad inventory

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YTD 3Q 10 YTD 3Q 11

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Year to Date 2011 Revenue Growth

myYearbook

Quepasa

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3Q10 3Q11

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Visits

32% Combined Annual Growth

66% Combined Annual Growth

MYBup 32.6%

QPSAup 32.3%

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A single platform brings operational and product efficiencies

The myYearbook platform’s strong monetization, engagement, and

mobile offerings make it the platform of choice

Leverage Quepasa team to build more product faster for larger audience

The first step, internationalization, is underway. Smartling chosen to

expedite effort. The second step, migration, targeted for completion in

Q4 2012

Q2 2012: Localize Mobile Apps

Q3 2012: Localize web experience

Q4 2012: Migrate Quepasa users to new platform

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Continued Mobile Growth

iPad launched Q4 2011

Expect continued growth in mobile share of visits

Virtual Currency

~15% of revenue today – share expected to increase

in 2012

Growth from dual currency and frictionless mobile purchases

Internationalization

90% of combined PV’s and visits currently from US

Like Facebook and Twitter, expect international to grow such that US is less than 50% of total

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Market

Company Ticker Capitalization Revenues MC/Rev Revenues MC/Rev Revenues MC/Rev

Renren, Inc RENN 1,360$ 83$ 16.4x 118$ 11.5x 177$ 7.7x

Yandex, N.V. YNDX 6,050$ 554$ 10.9x 648$ 9.3x 911$ 6.6x

LinkedIn, Corp. LNKD 6,420$ 436$ 14.7x 514$ 12.5x 823$ 7.8x

Groupon, Inc. GRPN 12,150$ 1,290$ 9.4x 1,590$ 7.6x 2,270$ 5.4x

Angie's List ANGI 677$ 79$ 8.6x 88$ 7.7x 141$ 4.8x

Zynga, Inc. ZNGA 5,770$ 1,020$ 5.7x 1,160$ 5.0x 1,460$ 4.0x

10.9x 8.9x 6.0x

Quepasa Corp. QPSA 109$ 36$ 3.0x 38$ 2.9x 50$ 2.2x

Footnotes:

1) Source: RENN, YNDX, LNKD, GRPN, ANGI and ZNGA from Yahoo! Finance, January 10, 2012.

2) Quepasa estimates reflect consensus, except 2011 Revenues which is from Rodman & Renshaw's November 22, 2011 Initiation Report.

3) Quepasa Market Capitalization and TTM Revenues reflect combined QPSA/MYYB post-merger.

Trailing Twelve Month 2011 2012

Current Equity CoverageMorgan Joseph TriArtisan Buy Rating $5.50 Target Initiated October 3, 2011

Rodman & Renshaw Market Outperform $7.00 Target Initiated November 22, 2011

From Rodman & Renshaw’s January 10, 2012 Note: “Maintain Market Outperform Rating. QPSA is currently trading at a revenue multiple of 1.26x and

P/E multiple of 8.0x to our expectations for 2013. This compares to industry averages ranging from under 1x to over 17x on a revenue basis and 8x to 25x

on P/E basis. We believe any multiple expansion for the company will be driven by 1) successful integration of myYearbook 2) new product / service

introductions (especially in Mobile) 3) potential re-branding of the service 4) improved revenue visibility 5) a substantially larger US and international user

base and 6) consistent improvements in traffic trends. We believe investor’s looking for exposure to growth opportunities in the social networking arena

may find QPSA attractively positioned into the next phase of its expansion. We are comfortable maintaining our $7.00 price target that results in a P/E

valuation multiple of ~18x to our 2013 estimates. We believe this is an inline multiple relative to the industry averages predicated on industry average

growth expectations.”

Quepasa Corporation is providing the information as a service to interested parties. Quepasa Corporation did not prepare the accompanying research

reports and takes no responsibility for their content.

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Public market leader for social discovery

Significant global scale – 8+ million monthly active users (MAU), 2+

million new users, and 2.5 billion page views each month1

Fast-growing mobile applications – now 54% of daily logins. Top 15

Free Social App in Android Marketplace

Robust product pipeline focused on continued growth in

mobile, virtual currency, and international

TTM (4Q10 – 3Q11) Combined Revenue = $36.3 million; Up 47% vs.

prior period

1 – Quepasa.com, myYearbook.com and Wonderful City combined numbers for average month during Q3 2011

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