Investor Presentaiton

Where we are coming from: Inflation Index (IPCA) - TTM 35% 30% 1 25% 20% 15% 10% 5% 0% 90 Jun/95 Source: IBGE 2 3 Dec/95 Jun/96 Dec/96 Jun/97 Dec/97 Jun/98 Dec/98 Jun/99 Dec/99 Jun/00 Dec/00 Jun/01 Dec/01 Jun/02 Dec/02 Jun/03 Dec/03 Jun/04 Dec/04 Jun/05 Dec/05 Jun/06 Dec/06 Jun/07 Dec/07 Jun/08 Dec/08 Jun/09 Dec/09 Administração de Recursos DYNAMO

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