Investor Presentaiton

Credit Portfolio Breakdown - Infrastructure Infrastructure Lending Portfolio Growth In R$ billion 5.3% 78.6 79.9 75.9 70.9 56.7 2014 2015 2016 1H16 1H17 Delinquency Rate (%) 0.3% 0.8% 0.5% 0.4% 0.3% 2014 2015 2016 1H16 1H17 Source: Caixa Econômica Federal Breakdown by Duration (%) As of June, 2017 14,0% 25,3% ,1% ■ Up to 3 year Breakdown by Sector (%) As of June, 2017 - 3-6 year ■ 6-9 year Over 9 years 57,6% ■ Energy 3% 41% ■ Sanitation 6% 6% 8% 22% 14% Urban mobility Others Urban infrastructure ■Logistics Shipbuilding 16

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