Investor Presentaiton

Brazil | Investment Outlook INVESTMENTS INDUSTRY R$ billion 2014 SECTORS 2010-2013 2015-2018 Percentage change Oil and Gas 358 509 42.1% Automotive 58 59 0.4% Food 58 49 -15.8% Mineral Extraction 44 40 -8.0% Electronics 22 28 25.9% Sugar and Ethanol 41 25 -40.5% Chemical Industry 22 22 2.6% Pulp and Paper 20 21 2.5% Health Industry 12 13 11.9% Steel 25 12 -50.3% Aerospace Industry 4 12 187% Others 112 121 8.0% Total 775 909 17.3% Source: Brazilian Development Bank (BNDES) BRAZILIAN ECONOMY OVERVIEW

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