Investor Presentaiton

Brazil is one of the most relevant emerging markets globally and the largest economy in Latin America Brazil is an important emerging market... Brazil is the 10th largest economy in the world; Macro stabilization coupled with high commodity prices led to >5% GDP growth in 2007 and 2008. World's Largest Economies (Dec 08) . And dominant economy in Latin America Brazil is the largest economy in Latin America and accounts for 37% of the region's GDP. Latam's Largest Economies (Dec 08) GDP USD bn GDP per capita USD 1 United States 14.265 46.859 2 Japan 4.924 38.559 Brazil 3 China 4.402 3.315 Mexico 4 Germany 3.668 44.660 5 France 2.866 46.016 Argentina 6 UK 2.674 43.785 Italy 2.314 38.996 Venezuela 8 Russia 1.677 11.807 9 Spain 1.612 35.331 Source: IMF and World Bank 10 Brazil 1.573 8.197 11 Canada 1.511 45.428 12 India 1.210 1.016 13 Mexico 1.088 10.235 Source: IMF and World Bank Note: 2009 Brazil GDP is not available. GDP USD bn % LATAM GDP 1.573 37% 1.088 26% 326 8% 319 8% 50

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