Investor Presentaiton

Strategy 2010 - 2012 An upwardly mobile population requires that we segment customers and offer differentiated propositions Notes: Source: IBGE - PNAD 2007 | Income (annual in R$) Financial Assets Population Economically Active More than 1 million AAA 37 k More than 100 k A 900 k From 50 to 100 k B 2.3 millions From 15 to 50 k C 14.7 millions From 5 to 15 k D 40.8 millions E Less than 5k 40.2 millions 13

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