Investor Presentaiton

Brazil | Trade Balance Brazilian trade balance (US$ billion) 300 250 200 150 100 44.9 46.5 50 40.0 33.8 25.0 25.3 29.8 20.1 19.4 11.5 2.6 0 -50 -4.0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015¹ →Exports Imports Trade Balance Source: MDIC (1) Forecast: Fiesp - September 2015 BRAZILIAN ECONOMY OVERVIEW

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