Investor Presentaiton

2016-2017 vs 2014-2015 Comparison Based on the subsample of 15 investors that provided investment data for 2014-2015 and 2016-2017, and made an investment into Brazil in at least one of those years, the following trends were identified: 01 The total number of deals increased by 42%. Half of the investors reported making more deals in 2016-2017, with 14% reporting fewer deals. 02 The aggregate amount invested increased by 56%. Half of the investors reported a higher total amount invested in 2016- 2017, with the other half reporting a lower total amount. 03~ The proportion of deals in the expansion/growth stage increased from 25% to 67%. 25 55

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