#1BANCO DO BRASIL Seguridade Institutional Presentation BBSEY OTC Pink ADR Level I BBSE3 NOVO MERCADO BM&FBOVESPA IBOVESPA Indice BIBRX 100 Indice IBRX 50#2Overview#3Track Record BANCO DO BRASIL Seguridade 1995 1996 Establishment of Brasilveículos in 1999 Partnership with Principal Financial Group in Private 2008-2011 Ownership restructuring of BB's insurance, Pension Plans and Premium Bonds division 1992 Brasilcap's 1981 1987 Creation of inception in partnership with SulAmérica Pension Plans Establishment BB Corretora's Brasilprev partnership with Principal of BB's establishment insurance operations BRASILPREV SulAmérica, BB CORRETORA DE SEGUROS Icatu and BRASILVEÍCULOS Financial Group Aliança da Bahia SulAmérica BRASILCAP Icatu SEGUROS BB Seguridade Participações S.A. | Investor Relations 2010 Establishment of the Joint Venture with Mapfre MAPFRE BANCO DO BRASIL Seguridade 2014 Establishment 2013 IPO Equity investment in of ADR - Level I 2012 IRB Brasil RE Establishiment of IRB Brasil RE BB Seguridade with Brasildental¹ Partnership Odontoprev 0 OdontoPrev 1 Pending approval by ANS (Agência Nacional de Saúde Suplementar). 3#4Ownership Structure 100% Total Free Float (Post IPO) BB Seguros 33.75% N BANCO DO BRASIL Seguridade 66.25% 100% Total BB Cor BB Mapfre SH1 Mapfre BB Brasilprev Brasilcap SH2 IRB- Brasil Re Brasildental Life, Rural P&C Pension Plans Premium Bonds BB Corretora Brokerage Reinsurance I Dental Insurance BB Seguridade 74.9% 50.0% 74.9% 66.7% 20.5% 74.9% 100% Economic Stake (%) BB Seguridade 49.9% 49.0% 49.9% 49.9% 20.5% 49.9% 100% Voting Stake (%) Board of Directors 50% 50% 50% 67% 20% 50% Representation (%) MAPFRE P Principal Icatu MAPFRE Financial Group IRB Brasil RE SEGUROS Awaiting the approval by ANS (Agência Nacional de Saúde Suplementar) Position until 03/31/2014 BB Seguridade Participações S.A. | Investor Relations ¡OdontoPrev BANCO DO BRASIL Seguridade 4#5Internal Structure Executive Board General Meeting BANCO DO BRASIL Seguridade Fiscal Council Board of Directors Audit Commitee CEO Marcelo Augusto Dutra Labuto Chief Financial Officer Werner Romera Suffert Chief Corporate Governance Officer Leonardo Giuberti Mattedi Chief Business Development Officer Ângela Beatriz de Assis BB Seguridade Participações S.A. | Investor Relations 5#6Shareholders Structure MAR/14 Free-float 33.8% Banco do Brasil 66.3% BB Seguridade Participações S.A. | Investor Relations FREE-FLOAT BREAKDOWN - MAR/14 Individuals 5.6% Institutional 31.7% BANCO DO BRASIL Seguridade Foreign Investors 62.6% 9#7ADR Program BANCO DO BRASIL Seguridade In 2014, BB Seguridade established a sponsored Level I American Depositary Receipt (ADR) program. Depositary Bank: Deutsche Bank Trust Company Americas Custodian Bank: Banco do Brasil S.A. Ticker: BBSEY Structure: Level I ADR Exchange: Over-the-counter (OTC) market Ratio (ADR:ORD): 1 ADR : 1 ORD DR ISIN: US05541J1034 CUSIP: 05541J103 BB Seguridade Participações S.A. | Investor Relations 7#8Corporate Governance BANCO DO BRASIL Seguridade Board of Directors: Six members: Two members appointed by Banco do Brasil from its Board of Executive Officers One appointed by the Ministry of Planning, Budget and Management and the other by the Ministry of Treasury The CEO of BB Seguridade One member appointed by the minority shareholders Board of Executive Officers: Four members: Elected among the active employees of Banco do Brasil Remuneration policy: fixed monthly wage plus variable portion between six and twelve monthly wages. The variable portion is paid as 50% in cash and 50% in stocks with vesting period of 4 years. Related-party Comittee Three members: Stocks One is the independent member appointed by the minority shareholders The independent member has veto power Only common shares 100% tag along 80% payout (semi annual dividends) BB Seguridade Participações S.A. | Investor Relations 8#9Corporate Governance - Affiliates Board of Directors 16 members Companhia de Seguros Mapfre Vida S.A Aliança do Brasil 8 appointments 6 appointments 6 appointments SH1 Life MAPFRE SEGUROS 8 appointments 16 members Board of Executive Officers Vida Seguradora S.A 6 appointments MAPFRE 6 appointments SEGUROS Brasilveículos MAPFRE 6 appointments SEGUROS Aliança do Brasil Seguros S.A 6 appointments MAPFRE 6 appointments MAPFRE 6 appointments SEGUROS BB Mapfre Assistência 2 Appointments 2 appointments MAPFRE SEGUROS MAPFRE SEGUROS 8 appointments MAPFRE 8 appointments SEGUROS SH2 P&C $ SEGUROS 16 members 8 appointments 3 appointments Brasilprev Pension Plans Principal Principal Financial Group 8 appointments Financial Group 3 appointments 12 members 8 appointments Brasilcap Premium Bonds Icatu 2 appointments 4 appointments 2 appointments Broker Brasildental 3 members 3 appointments 4 members 3 members 1 appointment 2 appointments 1 appointment 2 appointments OdontoPrev OdontoPrev Consensus 1 appointment Dental Insurance 10 members IRB-RE Resseguro 2 appointments BB Seguridade Participações S.A. | Investor Relations 6 appointments 6 appointments Mapfre Affinity Seguradora S.A 6 appointments 6 appointments MAPFRE SEGUROS BANCO DO BRASIL Seguridade Mapfre Seguros Gerais S.A MAPFRE SEGUROS 6 appointments 6 appointments 6#10Scope of the Related-Party Committee BB CORRETORA DE SEGUROS BANCO DO BRASIL BANCO DO BRASIL Seguridade Related-party SH1 SH2 Brasilprev Brasilcap BB CORRETORA DE SEGUROS BANCO DO BRASIL Captive access to Banco do Brasil's network 20-year term ■ No termination clause ■ Signed in January 2013 ■ Arm's length ■ Products sold through BB Corretora ■ Remuneration: fixed percentage of policies, varying according to product type ■ Shareholder agreements: 23-year term for PFG, 20-year term for Mapfre and without a defined term for Icatu / Aliança da Bahia Any proposal for changes in the agreements must be examined by the Related-party Committee and the independent member has a veto power BB Seguridade Participações S.A. | Investor Relations 10 10#11Backed by Banco do Brasil with Expertise of Private Partnerships BANCO DO BRASIL Seguridade Backed by Banco do Brasil Solidity, tradition, security and reliability Safe harbor, especially for long term products Flight to quality and less susceptible to market conditions Brand awareness . Expertise from Private Partners Fast decision making BB Seguridade operates in an arm's length format Monitors the developments of any potential conflicts between BB and BB Seguridade Improves corporate governance Minimum voting stake of 50.1% N 伞 Principal Icatu BANCO DO BRASIL MAPFRE Financial Group SEGUROS BB also plays an active role in its operational companies' governance BB Seguridade Participações S.A. | Investor Relations 11#12Competitive Advantage BANCO DO BRASIL Seguridade BB Seguridade strategy focuses on bancassurance with its own broker, taking advantage of the captive access to Banco do Brasil distribution network. Own Brokerage Low complexity business model No underwriting risk Low capital needs Distribution Channel Bank Channel 60.3 Million clients 5,474 Branches 63,536 ATMs 15,802 Banking Correspondents 32,646 Points of service in shared network Non-banking Channel 138 Partnerships (Affinity) Captive access to larger distribution network in Latin America 20,929 External Brokers BB Seguridade Participações S.A. | Investor Relations 12#13Strong Financial Performance ROE 1Q14 (%) BANCO DO BRASIL Seguridade INSURANCE COMPANIES ASSOCIATED TRADITIONAL INSURANCE COMPANIES BROKERS 49.6% WITH BANKS Brokerage participation 39.7% 26.0% 35.3% 18.2% 16.3% 15.3% 12.5% 9.8% 9.4% 12.1% 6.6% Itaú Bradesco BANCO DO BRASIL 0 OdontoPrev SulAmérica PORTO SEGURO HDI Allianz Qualicorp Brasil TOKIO MARINE SEGURADORA associada a ING Insurance Seguridade Source: Companies and Susep BB Seguridade Participações S.A. | Investor Relations 13#14Macroeconomic Environment#15Global Macroeconomic Data BANCO DO BRASIL Seguridade 2011 2012 2013 2014E 2015E 2016E World Economy - GDP Growth World1 2.8% 2.5% 2.4% 3.2% 3.4% 3.5% USA¹ 1.8% 2.7% 1.8% 2.8% 2.9% 3.0% Euro Zone1 China¹ Brazilian Economy 1.5% -0.6% -0.4% 1.1% 1.4% 1.5% 9.3% 7.7% 7.7% 7.7% 7.5% 7.5% GDP Growth Brasil² 2.7% 0.9% 2.3% 1.7% 1.9% 2.6% SELIC (ends of period)² 11.0% 7.3% 10.0% 11.3% 12.3% 11.0% SELIC (year avarage )² 11.7% 8.5% 8.4% 11.0% 12.0% 11.4% Inflation (IPCA)² 6.5% 5.8% 5.9% 6.4% 6.0% 5.5% Inflation (IGP-M)² 5.1% 7.8% 5.5% 7.2% 5.5% 5.3% Dollar (quotation in R$)² 1.86 2.05 2.34 2.45 2.50 2.58 1. Source: World Bank, 2. Source: Focus - Bacen do Brasil BB Seguridade Participações S.A. | Investor Relations 15#16Bancassurance POPULATION WITH CHECKING ACCOUNT¹ (%) ACCOUNTS IN BRAZIL (MM) 97.0 88.0 71.0 63.8 91 55.9 89 83 44.1 42.2 United Kingdom United States Italy China Brazil Venezuela Chile Source: World Bank ; 1 - Data from 2011 BRANCHES IN BRAZIL 5,474 5,028 4,678 46 97 CAGR 4.6% BANCO DO BRASIL Seguridade 102 22 98 97 92 2009 2010 2011 2012 Checking accounts Savings accounts Source: Febraban BANCASSURANCE IN INSURANCE DISTRIBUTION (%) 63.2% 67.7% 69.3% 69.0% 36.8 32.3 30.7 31.0 3,288 46 $8 6.4 2,255 5.6 16.9 14.6 15.4 14.7 20.5 22.1 21.4 21.2 15.2 19.3 21.4 24.3 Bradesco CAIXA Santander 2010 2011 2012 2013² Itaú Banco do Brasil Caixa Bradesco Santander Itaú Others Market share BB Seguridade Participações S.A. | Investor Relations Source: SUSEP ; 2 - Data as of November, 2013 16#17Taiwan 15.0 9.2 3.8 11.6 11.0 Source: SUSEP and Swiss Re - Sigma 03/2013 1. Excluding businesses abroad BB Seguridade Participações S.A. | Investor Relations 6.9 3.2 Global Insurance Industry Insurance market presents low penetration level in Brazil Insurance premiums¹ / GDP (%, 2012) 2.6 1.4 Japan United Kingdom Life Insurance Premium / GDP Non-Life Insurance Premium / GDP 2.3 2.8 5.3 2.0 9.2 8.4 8.4 Finland Switzerland France United States 4.3 3.3 Germany 4.5 2.3 3.6 2.4 2.8 4.0 1.7 5.6 5.3 1.3 4.5 3.7 3.9 3.2 3.6 2.6 3.1 1.1 2.5 2.3 1.5 1.7 0.1 0.5 0.7 0.9 Italy Portugal Slovenia Spain Chile Venezuela Brazil Argentina 17 China #42 In Total Insurance #62 In Life Insurance Mexico BANCO DO BRASIL Seguridade#18Insurance Industry in Brazil 9.0 8.0 7.0 6.0 5.0 INSURANCE PREMIUM EVOLUTION (MONTHLY - R$ BN) INSURANCE PREMIUM EVOLUTION (YEARLY - R$ BN) CAGR 15.5% 69.8 61.6 53.4 46.6 BANCO DO BRASIL Seguridade 83.0 4.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2009 2010 2011 2012 2013 2012 2013 2014 Source: SUSEP BB Seguridade Participações S.A. | Investor Relations 18#19Netherlands UK Switzerland BB Seguridade Participações S.A. | Investor Relations 156% 170% Global Macroeconomic Scenario - Pension Plans Pension market is growing in Brazil due to the life expectation increase Pension Assets/GDP (%) 2 ՏՈ 112% 131% 118% 122% Australia 1. Brazil Pension Assets only include those from closed entities 2. Assets/GDP ratio for the world is calculated in USD and assets were estimated as of 31 Dec 2013 113% 108% 105% 101% Canadá South Africa 84% 80% Japan 67% 64% 2012 2013 62% 65% 55% 59% Ireland Hong Kong 40% 41% Germany 15% 14% 14% 13% 7% 6% Brazil¹ Source: Towers Watson France 19 #9 In assets BANCO DO BRASIL Seguridade#20Pension Plans Industry in Brazil 9.5 8.5 7.5 6.5 5.5 4.5 3.5 REVENUES (MONTHLY - R$ BN) CONTRIBUTIONS (YEARLY - R$ BN) 38.3 45.8 CAGR 17.8% 70.3 53.4 BANCO DO BRASIL Seguridade 73.9 2.5 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2009 2010 2011 2012 2013 2012 2013 2014 Source: SUSEP BB Seguridade Participações S.A. | Investor Relations 20#21Performance#22BB Seguridade at a Glance One of the Largest Insurance, Pension and Premium Bonds Companies in Latin America Fast Growing with High Profitability 46.7% ROAE in 1Q14 Largest Insurance Broker in Latin America Exclusive access to Banco do Brasil's unique distribution network 2nd Largest P&C Insurance Company in Brazil Around 2.4 million insured vehicles and R$ 2 billion in premiums written in 1Q14 Leading Presence in Premium Bonds, Pension Plans and Life and Rural Insurance BANCO DO BRASIL Seguridade Insurance Operations, Pension Plans and Premium Bonds managed through private partnerships with global leaders 126 employees at the holding and broker level 7,314 employees at the affiliates level 1. Adjusted ROAE, considering the distribution of dividends BB Seguridade Participações S.A. | Investor Relations 22 22#23Growth - BB Seguridade vs. Market Segments SH1 Premiums Written 1° Life1 Rural Mortgage Life BB Seguridade Market (ex- BB Seguridade) Market 13.7% -3.5% -0.6% 79.9% -44.1% 35.8% 63.8% 20.5% 22.8% SH2 - Premiums Written 2º Vehicles Casualties -2.3% 4.8% 3.7% 23.2% 5.9% 8.0% BRASILPREV Contributions Net Inflows 1° -15.9% -24.1% -21.5% -40.5% -97.0% -69.7% BRASILCAP 1° Collections 19.2% 8.5% 11.1% TOTAL 1° Premiums, contributions and collections -2.5% -2.5% -2.5% Source: SUSEP 1. "Life" includes the segments life and credit life BB Seguridade Participações S.A. | Investor Relations BANCO DO BRASIL Seguridade 23#24Market Leadership Leadership positions in all targeted segments Market Share (1Q14) LIFE INSURANCE¹ 1° 19.2% 17.3% 13.1% 11.9% 2 BANCO DO BRASIL Seguridade 5.0% Bradesco Itaú Santander CAIXA INSURANCE - CONSOLIDATED 1,3 1° 16.0% 11.7% 11.4% 8.3% 7.2% PREMIUM BONDS4 1° 26.3% 24.4% PENSION PLANS² 1° 34.3% 26.1% 21.2% BANCO DO BRASIL Seguridade 5.7% 5.5% BANCO DO BRASIL Bradesco Itaú CAIXA Seguridade 11.7% 10.7% 6.2% Santander INSURANCE BROKERAGE (R$ MM) 488 1° 327 256 59 62 19 Revenues Net Income Revenues Net Income Revenues Net Income BANCO DO BRASIL Bradesco Seguridade PORTO SEGURO Itaú DPVAT BANCO DO BRASIL Bradesco Itaú SulAmérica CAIXA BANCO DO BRASIL GRUPO QUALICORP Brasil Insurance Seguridade Seguridade Source: SUSEP and Companies 1. Premiums earned; 2. Contributions; 3. Considering Life, Rural, Property and Casualty; 4. Collections BB Seguridade Participações S.A. | Investor Relations 24#25Net Investment Income SELIC RATE (%) 10.75 10.00 9.00 8.00 7.25 Mar/13 Jun/13 FORWARD YIELD CURVE (%) BANCO DO BRASIL Seguridade 12.66 12.88 12.46 12.08 12.66 12.72 12.28 11.12 11.64 03/31/2014 12/30/2013 10.58 9.60 9.74 9.39 9.03 8.49 03/28/2013 Sep/13 Dec/13 Mar/14 DI 1F15 DI1F16 DI1F17 DI1F18 DI1F19 Source: Valor Pro Source: Focus - Banco Central do Brasil NET INVESTMENT INCOME (R$ MM) ■SH1 ■SH2 Brasilprev Brasilcap IRB Others¹ CONTRIBUTION OF NET INVESTMENT INCOME TO EARNINGS (%) QoQ: +2.8 p.p. YoY: +8.2 p.p. QoQ: +2% YoY: + 108% 165 169 13 22 6 26.1 23.3 21.7 119 13 27 19 14 17.9 10 81 52 14.4 79 42 11 36 15 36 25 26 32 20 12 8 43 33 44 47 26 26 -4 -1 -3 1Q13 2Q13 3Q13 4Q13 1Q14 1Q13 2Q13 3Q13 4Q13 1Q14 1. BB Corretora + Holding BB Seguridade Participações S.A. | Investor Relations 25#26BB Seguridade Performance PREMIUMS, CONTRIBUTIONS AND COLLECTIONS (R$ MM) REVENUES BREAKDOWN 23.7% 25.3% 22.2% 26.1% 1Q13 23.7% QoQ: -23% YoY: -2% 11,465 10,168 8,720 12,996 9,954 1Q13 2Q13 3Q13 Revenues 4Q13 Market share 1Q14 PROFITABILITY¹ 53.5% 34.7% 39.1% 38.0% 46.7% QoQ: - 8% YoY: +43% 707 649 550 548 455 1Q13 2Q13 3Q13 Adjusted net income (R$ MM) 4Q13 1Q14 ROAE Adjusted 1- To calculate the adjusted ROAE of 4Q13 and 1Q14 was considered the amount of R$ 6,125 million to equity of Dec/13 (adjusted by the dividends payment) BB Seguridade Participações S.A. | Investor Relations Brasilcap SH1 10.8% 11.8% Brasil prev 59.4% SH2 18.1% BANCO DO BRASIL Seguridade Brasilcap 13.1% SH1 15.6% Brasil prev 50.9% 1Q14 SH2 20.4% EARNINGS BREAKDOWN 1Q13 Others 0.7% IRB 1.3% 1Q14 BB Corretora 42.5% Brasilcap 3.7% SH1 29.3% SH2 2.7% Brasilprev 21.0% BB Corretora 39.2% Brasilcap 6.4% SH1 26.4% Brasilprev 20.1% SH2 6.6% 26#27BB Mapfre SH1 PREMIUMS WRITTEN (R$ MM) QoQ: -11% YoY: +30% 1,783 1,201 1Q13 BREAKDOWN OF PREMIUMS WRITTEN BANCO DO BRASIL Seguridade 1Q13 1Q14 Mortgage Life 2.3% 1,739 Rural 15.4% 1,521 1,556 Other 5.6% Mortgage Life 2.9% Rural 22.5% Other 6.3% Credit Life 23.8% 2Q13 3Q13 4Q13 1Q14 CHANGES IN TECHNICAL RESERVES (R$ MM) QoQ: - 78% YoY: -22% 610 146 1Q13 2Q13 272 3Q13 BB Seguridade Participações S.A. | Investor Relations Life 53.0% EARNED PREMIUM (R$ MM) QoQ: + 19% Credit Life 22.8% Life 45.6% YoY: + 37% 1,443 523 1,249 1,173 1,216 1,055 113 4Q13 1Q14 1Q13 2Q13 3Q13 4Q13 1Q14 27#28BB Mapfre SH1 - Adjusted Ratios¹ LOSS RATIO (%) QoQ: +10.8 p.p. YoY: +3.4 p.p. 38.7 36.4 35.1 27.8 1Q13 G&A RATIO (%) QoQ: - 1.4 p.p. YoY: 1.4 p.p. COMMISSION RATIO (%) QoQ: +0.5 p.p. YoY: -0.5 p.p. BANCO DO BRASIL Seguridade 38.5 24.8 23.4 23.5 23.8 24.3 2Q13 3Q13 4Q13 1Q14 1Q13 16.8 16.6 16.8 15.4 14.7 2Q13 3Q13 4Q13 1Q14 COMBINED RATIO (%) QoQ: +9.9 p.p. YoY: +1.6 p.p. 76.7 1Q13 2Q13 3Q13 4Q13 1Q14 1Q13 1 Adjusted ratios prepared distributing the line "result with reinsurance" among the other lines from the income statement BB Seguridade Participações S.A. | Investor Relations 76.8 76.5 78.3 68.4 2Q13 3Q13 4Q13 1Q14 28#29BB Mapfre SH1 NET INVESTMENT INCOME (R$ MM) QoQ: +7% YoY: + 79% 58 57 PROFITABILITY BANCO DO BRASIL Seguridade 48.2% 33.1% 34.2% 23.4% 27.7% 104 97 95 QoQ: -26% YoY: +30% 311 221 230 197 178 1Q13 2Q13 3Q13 4Q13 1Q14 1Q13 2Q13 SOLVENCY 155.0% 152.4% 159.3% 128.9% 108.9% 5,997 7,209 6,027 5,715 5,522 5,578,356 4,782 4,452 3,774 Mar/13 Jun/13 Sep/13 Dec/13 Investments + Receivables (MM) Technical Reserve (R$ MM) BB Seguridade Participações S.A. | Investor Relations 3Q13 4Q13 1Q14 ROAE Adjusted Net Income (R$ MM) ASSETS UNDER MANAGEMENT BREAKDOWN¹ Mar/14 1. Solvency Ratio 2. Floating 71.4% Inflation MAR/13 Protected 7.0% Others² 32.5% Others² 11.4% Pre-Fixed 10.2% Inflation Protected 6.9% Mark-to-market Agrarian debt bonds, DPVAT, Investment funds MAR/14 Floating 55.8% Pre-Fixed 4.7% 29#30Mapfre BB SH2 PREMIUMS WRITTEN (R$ MM) QoQ: +1% YoY: + 11% BREAKDOWN OF PREMIUMS WRITTEN 1Q13 2,122 2,008 2,030 Other 14.2% 1,836 1,828 4Q13 1Q14 1Q13 2Q13 3Q13 CHANGE IN TECHNICAL RESERVES (R$ MM) QoQ: - 63% YOY: - 86% 184 114 1Q13 22 22 2Q13 3Q13 BB Seguridade Participações S.A. | Investor Relations 42 42 16 Other 14.8% BANCO DO BRASIL Seguridade 1Q14 Casualties 29.1% Vehicles 56.6% Casualties 33.3% Vehicles 51.9% EARNED PREMIUM (R$ MM) QoQ: +3% YoY: +17% 1,722 1,938 1,965 2,014 1,806 4Q13 1Q14 1Q13 2Q13 3Q13 4Q13 1Q14 30#31Mapfre BB SH2 - Adjusted Ratios¹ LOSS RATIO (%) QoQ: +1.8 p.p. YoY: +1.0 p.p. COMMISSION RATIO (%) QoQ: -1.2 p.p. YoY: 1.5 p.p. BANCO DO BRASIL Seguridade 57.4 55.1 56.1 54.1 54.3 24.3 24.0 22.8 22.8 21.0 1Q13 G&A RATIO (%) QoQ: -4.3 p.p. YoY: -2.1 p.p. 2Q13 3Q13 4Q13 1Q14 1Q13 19.3 18.7 19.6 21.5 17.2 2Q13 3Q13 4Q13 1Q14 COMBINED RATIO (%) QoQ: -3.7 p.p. YoY: -2.6 p.p. 98.7 1Q13 2Q13 3Q13 4Q13 1Q14 1Q13 1- Adjusted ratios prepared distributing the line "result with reinsurance" among the other lines from the income statement BB Seguridade Participações S.A. | Investor Relations 99.8 99.8 96.1 93.8 2Q13 3Q13 4Q13 1Q14 31#32Mapfre BB SH2 NET INVESTMENT INCOME (R$ MM) QoQ: + 3% YoY: +116% 40 40 28 65 83 86 83 PROFITABILITY (R$ MM) 4.0% 13.2% QoQ: + 54% YoY: +251% 25 1Q13 2Q13 3Q13 4Q13 1Q14 1Q13 SOLVENCY 147.0% 143.2% 142.2% 130.8% 128.5% 80 BANCO DO BRASIL Seguridade 12.6% 6.2% 8.5% 56 39 86 2Q13 3Q13 Adjusted Net Income (R$ MM) 4Q13 1Q14 ROAE ASSETS UNDER MANAGEMENT BREAKDOWN¹ MAR/13 7,080 Others 6,846 38.8% 6,266 6,101 5,850 6,149 6,100 6,384 5,449 5,662 Inflation Protected 14.6% Mar/13 Jun/13 Sep/13 Dec/13 Investments + Receivables (MM) Technical Reserve (R$ MM) BB Seguridade Participações S.A. | Investor Relations Inflation Protected 4.0% Floating 30.0% Pre-Fixed 16.5% Floating 50.0% Mar/14 Solvency Ratio 1. Mark-to-market MAR/14 Others 42.8% Pre-Fixed 3.1% 32#33Pension Plans CONTRIBUTIONS (R$ MM) QoQ: -32% YoY: -16% 6,038 5,895 1Q13 2Q13 MANAGEMENT FEE (R$ MM) 3,694 7,414 5,064 BREAKDOWN OF CONTRIBUTIONS BANCO DO BRASIL Seguridade Traditional¹ 1.3% 1Q13 Traditional¹ 2.4% 1Q14 PGBL 9.0% PGBL 9.5% VGBL 89.7% 3Q13 4Q13 1Q14 1. Defined remuneration plan QoQ: -1% YoY: +15% 271 271 268 255 234 1Q13 2Q13 3Q13 BB Seguridade Participações S.A. | Investor Relations PROFITABILITY (R$ MM) 53.8% 59.0% 128 4Q13 1Q14 1Q13 VGBL 88.2% 58.4% 58.0% 59.9% QoQ: + 5% YoY: + 37% 175 167 153 145 2Q13 3Q13 I Adjusted Net Income (R$ MM) 4Q13 1Q14 ROAE 33 33#34Pension Plans RESERVES (R$ MM) QoQ: +5% YoY: + 23% RESERVES BREAKDOWN MAR/13 BANCO DO BRASIL Seguridade MAR/14 87,769 83,543 74,849 77,229 Traditional 10.5% 71,542 PGBL 26.5% Traditional 9.5% PGBL 23.7% Mar/13 Jun/13 VGBL 63.0% Sep/13 Dec/13 Mar/14 1. Defined remuneration plan TRADITIONAL PLANS PORTFOLIO Floating MAR/13 6.0% Pre-Fixed 5.5% Inflation Protected 88.5% VGBL 66.8% ASSETS UNDER MANAGEMENT BREAKDOWN Pre-Fixed 6% Floating 5% MAR/14 Debentures and commercial MAR/13 MAR/14 papers. Stocks 3.3% Debentures and commercial Stocks 2.1% 8.4% papers BB Seguridade Participações S.A. | Investor Relations Inflation Protected 89% Securities² 15.2% Government Bonds 73.1% 7.2% Securities² 15.9% Government Bonds 74.8% 2. Securities = Time deposits, Time Deposit with Special Guarantee, Real Estate Receivables Certificate, Creditory Rights, Letras Hipotecárias and Letras Financeiras 34#35Brasilprev vs. Market NET INFLOWS (R$ MM) Market Share Brasilprev 1Q13: 48.3% 1Q14: 94.8% -97% 8,780 41% 4,543 4,237 2,519 138 - 70% NEW SALES (QUANTITY OF PLANS) 1Q13 2,657 Periodic Plans 65.3% Brasilprev Source: Quantum Axis Industry (ex-Brasilprev) Industry 1Q13 1Q14 REDEMPTION RATIO 9.8% 1Q13 11.0% 2Q13 12.5% 3Q13 BB Seguridade Participações S.A. | Investor Relations Sporadic 34.7% YEAR-TO-DATE CONTRIBUTIONS' (R$ MM) BANCO DO BRASIL Seguridade 1Q14 Sporadic 14.6% Periodic Plans 85.4% - 1% - 16% 7,775 7,724 - 26% 6,023 5,064 11.1% - 33% 10.6% 3,661 2,726 4Q13 1Q14 1,759 1,187 1M13 1M14 2M13 2M14 3M13 3M14 4M13 4M142 1 - Information based on BR GAAP; 2 - Considers the preview of total contributions of April 2014 35#36Premium Bonds PREMIUM BONDS COLLECTION (R$ MM) QoQ: -29% YoY: + 19% 1,958 1,093 1,383 1,834 COLLECTION BREAKDOWN 1Q13 BANCO DO BRASIL Seguridade 1Q14 1,303 Montlhy Payment 43.7% Unique Payment 56.3% Montlhy Payment 40.5% Unique Payment 59.5% 3Q13 4Q13 1Q14 1Q13 2Q13 NET INVESTMENT INCOME (R$ MM) QoQ: + 40% YoY: +812% -4 24 224 -9 1Q13 2013 3Q13 BB Seguridade Participações S.A. | Investor Relations 47 PROFITABILITY (R$ MM) 104.0% 129.2% 63.4% 63.9% 51.7% QoQ: +21% 66 YoY: +148% 28 25 27 52 22 63 1Q13 2Q13 3Q13 Net Income (R$ MM) 4Q13 1Q14 ROAE 4Q13 1Q14 36#37Premium Bonds TECHNICAL RESERVES (R$ MM) QoQ: + 3% YoY: +43% SOLVENCY RATIO (%) QoQ: 19.4 p.p. YoY: +26.1 p.p. 9,489 9,810 117.6 8,482 99.4 7,866 89.2 6,844 Mar/13 Jun/13 Sep/13 Dec/13 Mar/14 PORTFOLIO BREAKDOWN MAR/13 Debentures and MAR/14 commercial Others 6.6% Debentures and commercial Others 11.2% papers 12.8% Securities¹ 9.9% Government Bonds 70.7% papers 7.6% Securities¹ 5.3% Mar/13 Jun/13 134.7 BANCO DO BRASIL Seguridade 115.3 Sep/13 Dec/13 Mar/14 TRADING PORTFOLIO BREAKDOWN MAR/13 Stock Funds 1.1% Inflation protected 19.7% MAR/14 Inflation protected 5,3% Stock Funds 1,3% Pre-Fixed 41.4% Government Bonds Floating Floating 54,8% 37.8% 76.0% 1. Securities = Time deposits, Time Deposit with Special Guarantee, Real Estate Receivables Certificate, Creditory Rights, Letras Hipotecárias and Letras Financeiras BB Seguridade Participações S.A. | Investor Relations Pre-Fixed 38,6% 37#38Brokerage BROKERAGE REVENUES (R$ MM) QoQ: - 4% YoY: + 26% 506 488 447 425 388 3Q13 4Q13 1Q14 1Q13 2Q13 ADJUSTED NET INCOME (R$ MM) QoQ: - 5% YOY: +32% REVENUES BREAKDOWN Brasilcap 11.8% Brasilprev 19.7% SH2 18.1% 1Q13 Other 1.3% SH1 49.1% Brasilprev 13.5% BANCO DO BRASIL Seguridade 1Q14 Other 0.3% Brasilcap 13.8% SH1 55.7% SH2 16.6% EXPENSES BREAKDOWN & NET MARGIN (%) 51.8% 53.2% 49.9% 51.2% 52.6% 270 256 232 52.5 51.2 51.7 50.8 50.9 218 194 1Q13 2Q13 3Q13 BB Seguridade Participações S.A. | Investor Relations 25.8 26.8 26.5 27.6 27.1 6.5 7.4 7.1 7.4 7.3 20.2 17.0 18.1 15.9 16.5 1Q13 2013 3Q13 4Q13 1Q14 4Q13 1Q14 Operating expenses Tax expenses Income taxes Net Margin 38#39Market Ratios DIVIDEND YIELD 20.9% 2.1% 1.2% 0.5% N/A P/E 2014E (R$) BANCO DO BRASIL Seguridade 19.37 16.16 11.58 10.20 8.64 Brasil Insurance BANCO DO BRASIL PORTO SEGURO SulAmérica Qualicorp ING BANCO DO BRASIL Qualicorp PORTO SEGURO SulAmérica ING Brasil Insurance Seguridade Seguridade EPS 2014E (R$) 2.81 PORTO SEGURO 1.63 1.47 1.38 1.00 SulAmérica ING P/BV (R$) 8.18 2.93 1.91 1.63 1.56 Brasil Qualicorp Qualicorp BANCO DO BRASIL Insurance BANCO DO BRASIL PORTO SEGURO Brasil SulAmérica Insurance ING Seguridade Seguridade Source: Bloomberg as of May, 13,2014 BB Seguridade Participações S.A. | Investor Relations 39#40Guidance 2014 Ratio 2014 Estimates 1Q14 BANCO DO BRASIL Seguridade BB Seguridade - Adjusted ROAE¹ 44%-49% 46.7% Premiums written growth - BB Mapfre SH1 24% -32% 29.6% Premiums written growth - Mapfre BB SH2 19% -26% 10.6% Collection growth - Pension Plans 33% -47% -16.1% Collection growth - Premium Bonds 10%-15% 19.2% ¹Adjusted ROAE calculated considering the full distribution of dividends related to the FY 2013. The adjusted equity as of 2013 would be R$ 6,125 million. BB Seguridade Participações S.A. | Investor Relations 10 40#41Portfolio of Products#42Our Products - SH1 Insurances Life Credit Life Mortgage Life Rural BANCO DO BRASIL Seguridade ✓ Definition: term life insurance without accumulation. Coverage: in case of death, permanent disability or severe disease during the term, the benefit will be paid to the insured or his beneficiary. ✓ Definition: insurance that guarantee the payment of loans. ✓ Coverage: in case of death the insured loan will be prepaid and his relatives will not inherit the debt. ✓ Definition: insurance related to mortgage loans. ✓ Coverage: in case of death or permanent disability the remaining balance of the loan will be prepaid. This product also protects the home of the insured from physical damage. Definition: encompasses a group of three main products: crop insurance, rural lien insurance and credit life insurance to farmers. ✓ Coverage: (i) Crop: any weather hazards and falling in the market prices of the crop; (ii) Lien: damage caused to the property, directly related to agricultural activities, which is provided as collateral of a rural loan; (iii) Credit life: in case of death of the insured the insurance company will prepay the rural loan. BB Seguridade Participações S.A. | Investor Relations 22 42#43Our Products - SH2 Insurances BANCO DO BRASIL Seguridade P&C Definition: is a type of insurance sold to individuals and companies that provides protection against risks to properties linked or not to loans. ✓ Coverage: the main coverage is for damages to the home of individuals, and the assets of companies such as machinery and other properties. Auto DPVAT Definition: insurance sold to individuals or companies that provides protection to vehicles. ✓ Coverage: is an insurance policy designed to provide protection for vehicles against theft, physical damage and/or bodily injury resulting from traffic colli- sions, besides other assistances provided to the policy holder for their daily lives. ✓ Definition: A mandatory insurance related to accidents caused by vehicles in Brazil. Coverage: Covers personal injury caused by vehicles to passengers, drivers or pedestrians. BB Seguridade Participações S.A. | Investor Relations 43#44Our Products - Brasil Prev BANCO DO BRASIL Seguridade PGBL ✓ Pension Plan designed for people who declare income taxes in the complete form as contributions are deductible up to a limit of 12% of the clients taxable income. VGBL ✓ Pension Plan designed for people who declare income taxes in the simplified format or is exempt. Focus on succession. ✓ Much lower inheritance costs (does not have either legal or tax costs) Less time consuming (beneficiary receives it in less than 30 days) Traditional Plan ✓ Defined remuneration ✓ Guarantees a minimum yield composed of either inflation +6% or TR + 6%. ** No longer sold BB Seguridade Participações S.A. | Investor Relations 44 =4#45Our Products - BrasilCap Premium Bonds BANCO DO BRASIL Seguridade Premium bonds products are an alternative way to accumulate reserves, with maturity and interest rates previously determined, allowing the bond holder to be entitled to participate in lottery. The award occurs through periodic drawings, being most frequent the usage of a combination of numbers in a pre-determined. series, based on the Brazilian Lottery. Chances of Contemplation From 1 in 10,000 to 1 in 1,000,000 Ourocap Official Lottery 1 in 50,063,860 BB Seguridade Participações S.A. | Investor Relations 45 45#46IR BB Seguridade BB Seguridade Participações S.A. | Investor Relations BANCO DO BRASIL Seguridade Contacts Investor Relations Rua Manoel da Nóbrega, 1280 - 9º andar - 04001-004 São Paulo (SP) Telephone: (11) 2105-8444 Fax: (11) 2105-8499 www.bancodobrasilseguridade.com.br [email protected] 46 46