Investor Presentaiton

Brazil | Trade Balance Trade balance by product categories (US$ billion) 90.4 84.2 79.7 78.0 66.2 52.9 41.4 43.2 Basic 29.8 21.0 23.1 16.2 Semi- 5.2 8.4 5.1 -9.2 -39.8 -36.5 -71.2 -91.8 -94.0 -104.3 -109.4 Manufactured -60.7 Manufactured 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015¹ Source: Ministry of Development, Industry and Trade (MDIC) (1) January to September 2015 BRAZILIAN ECONOMY OVERVIEW

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