Investor Presentaiton

Where we are coming from: Government Debt (total and external) 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 1 2 3 0.0% 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 -10.0% Source: Central Bank of Brazil Ext.Net Debt /GDP Total Net Debt/ GDP DYNAMO Administração de Recursos

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