Investor Presentaiton

70 95 120 170 Brazil | Production and Sales Industrial production and Retail sales (2007=100) 145 BRAZILIAN ECONOMY OVERVIEW Aug-07 Feb-08 Aug-08 Feb-09 Aug-09 Industrial Production Source: Brazilian Institute of Geography and Statistics (IBGE) Feb-10 Aug-10 Feb-11 Aug-11 Feb-12 Aug-12 Feb-13 IMPORTS 154.29 Aug-13 Retail Sales Feb-14 Aug-14 Feb-15 Aug-15 96.77

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