Banco Votorantim S.A. Earnings Presentation 3 rd Quarter, 2011
Disclaimer “Certain statements made in this presentation may not be based on historical information or facts. This presentation therefore contains, or may be deemed to contain, “forward looking statements” (within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), including those relating to the general business plans and strategy, future financial condition and results and growth prospects of Banco Votorantim S.A. (“Banco Votorantim” or the “Company”), and future developments in its industry and its competitive and regulatory environment. By their nature, forward ‐ looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and are based on assumptions, data or methods which, although considered reasonable by the company at the time, may turn out to be incorrect or imprecise, or may not be possible to realize. Accordingly, actual results may differ materially from these forward ‐ looking statements due to a number of factors, including future changes or developments in the Company’s business, its competitive environment, technology developments and political, economic, legal and social conditions in Brazil. Forward looking information is not merely based on historical fact but also reflects management’s objectives and expectations. The Company can give no assurance that expectations disclosed in this presentation will be confirmed. The words “estimate”, “believe”, "anticipate", “wish", "expect", “foresee", “intend", "plan“, "predict", “forecast", “aim" and similar words, written and/or spoken, are intended to identify affirmations which, necessarily, involve known and unknown risks. Known risks include uncertainties which include, but are not limited to, interest rates, product competition, market acceptance of products, the actions of competitors, regulatory approval, currency type and fluctuations, monetary policy, among others. This presentation is based on events up to September 30 th , 2011. The Company or any of its affiliates take no responsibility or liability to update the contents of this presentation in the light of new information and/or future events. Banco Votorantim and/or any of its affiliates do not accept and take no responsibility, whatsoever, direct or indirect, for transactions or investment decisions made on the basis of information contained in this presentation. Banco Votorantim may alter, modify or otherwise change in any manner the contents of this presentation, without the obligation to notify any person of such revision or changes. This presentation does not constitute an offer, or invitation, or solicitation of an offer, to subscribe for or purchase any securities. Neither this presentation nor anything contained herein shall form the basis of any contract or commitment whatsoever. Recipients of this presentation are not to construe the contents of this summary as legal, tax or investment advice and recipients should consult their own advisors in this regard. The market and competitive position data, including market forecasts, used throughout this presentation were obtained from internal surveys, market research, publicly available information and industry publications. Although the Company has no reason to believe that any of this information or these reports are inaccurate in any material respect, the Company has not independently verified the competitive position, market share, market size, market growth or other data provided by third parties or by industry or other publications and therefore does not make any representation as to the accuracy of such information. This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in part without the Company’s prior written consent. ” 1
Agenda Banco Votorantim overview Strategy and recent developments New context and challenges Financial highlights 2
Banco Votorantim overview Banco Votorantim is one of the leading players in Brazil 3 rd largest privately-held Brazilian bank – strong shareholder base and diversified portfolio Banco Votorantim (BV) is the 3 rd largest ... with a strong shareholder base and privately- held domestic bank by assets … a diversified business portfolio Strong organic growth trajectory Total: 50% Total: 50% • BV started operating as a multiple bank in 1991… Voting: 50.01% Voting: 49.99% • …and today is one Brazil’s leading banks Non-voting: 49.99% Non-voting: 50.01% – #7 by total assets¹ (R$124.3B) – #6 by loan portfolio¹ (R$64.0B) – #6 by shareholders’ equity¹ (R$8.7B) • ~ 7,000 employees (~5.2k in Consumer Finance ) Wholesale Banking • ~ 5.5M customers • Corporate • Investment Banking Multi-niche strategy • Middle Market Consumer Finance Low fixed-cost business model • National coverage via third-party distribution • Auto Finance • Personal Loans Robust shareholder base and conservative financial • Credit Cards policies • Insurance broker Culture of excellence, agility and customer orientation • Private Bank • Asset Management Recognized by the market • Credibility, credit quality and innovation • Full Service Brokerage House • Positioned among best places to work • Broker Dealer in New York • Rep office in London 1. Excluding BNDES (State-owned development bank) Note: Figures as of Sep/11 Source: Banco Votorantim; Brazilian Central Bank 3
BV overview – Bacen rankings BV is the 7 th largest bank in Brazil by total assets… And is ranked #6 in terms of both loan portfolio and shareholders’ equity Largest financial institutions in Brazil¹ according to the Brazilian Central Bank – June 2011 Shareholders’ equity Total Assets (R$B) Loan portfolio (R$B) 1. Banco do Brasil 865.0 1. Banco do Brasil 359.5 1. Itaú Unibanco 67.1 2. Itaú Unibanco 768.6 2. Itaú Unibanco 259.5 2. Santander 65.1 3. Bradesco 607.8 3. Bradesco 218.2 3. Banco do Brasil 54.6 4. CEF 460.1 4. CEF 205.8 4. Bradesco 53.0 5. Santander 412.0 5. Santander 153.6 5. CEF 18.2 6. HSBC 144.5 6. VOTORANTIM 61.2 6. VOTORANTIM 8.7 7. VOTORANTIM 119.2 7. HSBC 45.4 7. HSBC 8.2 8. Safra 83.8 8. Safra 35.7 8. Citibank 7.0 9. Citibank 54.8 9. Banrisul 18.2 9. Safra 5.9 10. BTG Pactual 52.2 10. Volkswagen 17.7 10. BTG Pactual 5.8 11. Banrisul 34.9 11. Citibank 12.0 11. Banrisul 4.1 12. Credit Suisse 29.4 12. BIC 11.5 12. Classico 3.9 13. BNP Paribas 26.2 13. BNB 10.5 13. Credit Suisse 3.2 14. Deutsche Bank 25.2 14. BMG 9.1 14. BNB 2.3 15. BNB 24.8 15. FIBRA 7.1 15. BNP Paribas 2.2 1. Excluding BNDES (State-owned development bank) Source: Banco Votorantim; Brazilian Central Bank as of June/11 (Sep/11 figures not yet available at the time the presentation was developed) 4
BV overview – Shareholder base …with a very robust shareholder base… Two of the largest and most solid Brazilian institutions as shareholders Votorantim Group Banco do Brasil (BB) • • Largest FI in Brazil , with 200+ years old One of the largest privately-held industrial conglomerates in Latin America • R$6.3B in net profits in 1H11 , with 25.4% ROAE • Founded in 1918 • Market leader¹ in terms of • R$15.8B in revenues and R$3.0B in EBITDA in 1H11 – Total assets (R$904B) • Market leader in a diversified portfolio of basic – Total deposits (R$396B) materials and commodities , e.g.: – Loan portfolio (R$421B) – Pulp & paper: #1 pulp producer in the world – AuM (R$407B) – Cement: top 10 global player; #1 in Brazil • Diversified funding base, with low cost deposits – Metals: leading global position in zinc and nickel; – ~65% of the basic interest rate – Selic #1 aluminum, zinc and nickel producer in Brazil • 59.2% controlled by the Brazilian Government – Steel: established presence in long steel in South • Market capitalization¹: R$80.1B America • ~55M retail clients – Orange juice: leading global player (~35% share²) • • ~112,900 employees ~65,000 employees • Rated: Baa2 (Moody’s) / BBB (S&P) / BBB (Fitch) • Rated: Baa3 (Moody’s) / BBB (S&P) / BBB - (Fitch) Total: 50% Total: 50% Voting: 50.01% Voting: 49.99% Non-voting: 49.99% Non-voting: 50.01% 1. End of 1S11 figures; 2. Considers Citrovita + Citrosuco figures Source: Company IR websites 5
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