Earnings and Dividend Growth Report

Peruvian Economy Resilient economic fundamentals Peru's important resource sectors are increasingly balanced by stronger service-sector activity and solid economic fundamentals Peru has 16 free-trade agreements with 49 countries that account for 66% of global GDP Investment is making a consistently strong contribution to GDP, which should make solid growth rates more sustainable in the future 11.5% Manufacturing 10.4% Wholesale and Retail Trade PERUVIAN GDP BY INDUSTRY (Q12020) 12.7% Mining, Oil, & Gas 4.7% Construction 2.0% Electricity & Water Contributions to Peruvian GDP Growth 8 y/y % change 6 4 2 0 -2 Net Exports -4 -6 Investment Consumption -8 17 18 19 Sources: Scotiabank Economics, Haver Analytics. Inventories Government Real GDP 20 53.0%- Other Top 5 Trading Partners* Others 43% China 28% 5.8% Natural Resources United States 16% Canada 4% 4% Brazil South Korea 5% * Trade data updated as of Q1-2020 69

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