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“We follow your dreams, we support your projects. We believe in you.”

INSTITUTIONAL PRESENTATION December 2015 in US$ mm

Our Mission, Vision and Values Permanent Innovation to -Integrity become the bank of To keep ourselves -Professionalism choice of the successful committed to the -Positive Attitude people, who are the success of our clients . leading players in the development of our country

Paraguay's Economy Overview

Supportive macro and banking sector scenario 2014 2015 % GPD * 4,7 3* MACRO % Inflation 4,2 3,1 USD Exchage rate Gs. 4629 Gs. 5806,91 % Monthly inflation 0,7 0,9 Dec/13 to Dec/14 to Dec/14 Dec/15 % Loan growth 22,2 22,0 SECTOR % Deposits growth 17,5 14,4 % NPL 1,8 2,5 % ROE 28,3 27,8 Source: BCP *Number subject to revision

GPD GDP grew at a pace of 3.0%, below the 4.5% economic potential. The main drivers included: o Good level of agricultural production, which increased 5% over 2014 figures. o Tough year for the cattle and livestock sector, with a growth rate of -1.8% given lower international prices. o Expanding industrial sector (2.0%), with growth in exports from maquila and pharmaceutical subsectors. o Positive trend in services, more specifically finance (12%), as well as hotels and restaurants (6%). o Rise in construction (6%), driven mainly by private investment projects. o Rising levels of private investment. The Paraguayan economy experienced one of the highest growth rates in Latin America, which averaged -0.3% according to the International Monetary Fund’s (IMF) estimates. For 2016, the BCP estimates a growth rate of around 3.2%, near Source: Investor Economia with data from the BCP

Inflation o In 2015, consumer prices expanded at a rate of 3.1%, below the 4.5% target established by the BCP. o The appreciation of the US Dollar was expected to increase inflation, but the rise did not spill over to a great extent on consumer goods during 2015. o Faced with this economic scenario, the Central Bank Monetary Policy Committee reduced its benchmark rate during the months of March, April, June and July, from 6.75% to the current 5.75%. o Inflation is expected to remain relatively stable during 2016. The Central Bank will maintain its inflation targeting regime, prioritizing price controls within the upper and lower bounds, which was held at 4.5% ± 2%. Source: Investor Economia with data from the BCP

Exchange Rate o As of December 2015, the exchange rate has shown variations, with a strong upward trend. Throughout the first semester, the Guaraní remained as one of the least devaluated currencies with respect to the US Dollar, but towards the end of the second semester the behavior resembled that of its regional peers. o The Central Bank sold US Dollars on the financial market. From January 1st to December 30th total sales accounted for US$ 1.54 billion, an all- time high. The sale of dollars on the financial market by the Central Bank exhibited a rapid increase towards the second semester of 2015; money from the country’s International Reserves. It should be noted that the cash from the issue of sovereign bonds are also included in this account, adding to the revenues received by the Government. In 2016 the influx of capital from the issue of bonds will be lower than that of 2015, which would restrict the authority’s power in its effort to o stabilize volatile exchange rate pressures. Source: Investor Economia with data from the BCP

Outlook  The 2015/2016 soybean season is expected to exhibit good levels of rainfall due to “El Niño”, but also:  Climatic variability, with possible extreme temperatures.  Severe and irregular rainfall. Heavy storms, tornadoes and hail expected.  As was seen in the previous season, agricultural profitability margins will be very small due to lower commodity prices and costs which have not fallen at the same rate.  Volume of beef exports will continue to increase, due to a growth in slaughter rates, rising exports to Chile, and the sanitary approval by the EU and other authorities. Prices, on the other hand, will remain low.  Neighboring economies will continue to negatively impact Paraguayan border towns, with expected decreases in commercial activity due to the Brazilian recession as well as its depreciating currency. On the other border, President Macri’s economic decisions will most likely impact Paraguay, in positive or negative ways.  Inflation will remain low, near the target established by the Central Bank (4.5% ± 2%).  In 2016 the Gs/US$ exchange rate will be pressured upwards, given similar supply and demand levels of 2015 and limited Central Bank intervention power due to lower proceeds from the issue of sovereign bonds. At year end, the exchange rate is expected to reach Gs./US$ 6.320 ( ± 200).  The current lack of optimistic business expectations will remain, which has contracted investment in 2015 due to unclear signals coming from Government authorities with regards to solid economic measures to boost GDP.  Investor Economia estimates GDP will increase at a rate of 3.7% during 2016. Source: Investor Economia with data from the BCP

Regional: A leading Bank with a successful strategy

Sustainable and Steady Growth Dec/15 $2,636 2014 Modernization of $ 2,962 its institutional Rabobank becomes image and shareholder with 40% implementation of of shares an expansion ________________________________________________________________________________________________________ Regional adopts strategic plan S.A.E.C.A. title and Assets (US$ mm) undertakes the largest International Senior issue of shares in the Notes Issuance of US$ local stock exchange. One of the few 300 mill with 5 year ________________________________________________________________________________________________________ Processes national banks Signing of purchase maturity restructuring that managed to commitment of ABN ___________________ 2008 with London circumvent the AMRO Paraguay End of Phase 1 of the $ 624,63 Consulting Group financial crisis in Strategy Plan Paraguay thanks ___________________ to the prestige of Changing corporate Technological its shareholders. image. update Change in business strategy incorporating First Bank with customer its headquarters Purchase of 5-year Strategic officers for located outside 100% of ABN Plan with personalized the country's AMRO Paraguay support of BAIN attention capital Bank 1991 $ 8,10 … 1998 2000 2001 2009 2012 2013 2014 1991 2005 2008

Banco Regional: A leading financial institution - Dec 15 Ratings Moody’s: Ba2 / S&P: BB - /Feller Rate: AApy Assets Loans (3) $2.635,9 $1.994,2 Deposits + Equity Bonds (1) $216,9 $2.070,8 # # Customer Employees 104.472 680 # Branches ROE 38 21,93% Net ROA Income $36,4 1,50% NPL TIER II Coverage (2) 13,19% 122,35% * US$ mm (1) Deposits US $ 1,758.5 Mn (2) Total NPL Coverage indicates (specific + Generic Provisions)/NPL (3) Includes FInancial Sector - Do not included accrued interests

Leading positions in services and products – Dec 15 Market Share / Ranking Loans 17% 2 Deposits 14% 3 Total Bank Branches 7 7% 5 ATM 8% Net Profit 10% 3 Credit Cards Portfolio 5% 7 Retail Number of Cards 3% 8 7 Consumer Loans 6% Agricultural Loans 25% 1 Corporate Livestock Loans 4 11% 2 Industrial Loans 17% + Total Banks= 17

Strong portfolio growth in a competitive market Assets Loans 15,9% 15,8% 15,8% 18,2% 15,3% 18,0% 15,3% 17,5% 17,1% 17,0% 14,4% 16,7% $2.101 $2.962 $1.994 $2.614 $2.636 $1.761 $1.553 $2.182 $1.914 $1.343 $1.563 $1.040 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Loans (US$mm) %Market share - Loans Assets (US$mm) %Market share - Assets Deposits (1) Equity 16,5% 16,2% 15,9% 15,5% 14,6% 14,0% 13,4% 13,2% 11,9% 11,7% 11,3% 11,4% $2.017 $1.924 $1.759 $236 $1.619 $217 $202 $196 $1.396 $1.251 $167 $142 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Equity %Market share - Equity Deposits %Market share - Deposits Exchange Rate: (1)Do not included accrued interests Dec 2015: Gs 5.806, 91 Dec 2014: Gs 4.629

Evolution of Loan Portfolio – Dec 15 Loans Portfolio Distribution by Sector Export Retail Financial Sector 18,2% 6% 18,0% 5% 17,5% 17,1% 0% 17,0% 16,7% Services 10% $2.101 3% 4% $1.994 5% $1.761 10% Commerce (Small) $1.553 8% Agriculture $1.343 7% 40% 37% $1.040 15% Commerce (Large) 11% 8% 13% Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Loans (US$mm) %Market share - Loans Industry Livestock 11% 7% Portfolio by Currency NPL 2,5% 2,5% 2,47% Guaraníes 2,2% 33% 1,9% 2,36% 1,8% 2,1% 2,0% 1,8% Dollars 1,7% 67% 1,3% Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 % NPL Banco Regional % NPL (banking sector) Exchange Rate: Dec 2015: Gs 5.806, 91 Dec 2014: Gs 4.629

Provisions for loan losses as % of total loans 166,75% 147,73% 135,71% 134,97% 131,34% 122,35% 132,64% 127,40% 116,50% 115,50% 115,09% 100,01% 52,47% 45,93% 41,24% 40,59% 33,10% 32,22% dec/10 dec/11 dec/12 dec/13 dec/14 dec/15 Regional Banking Sector Real Collaterals as % of total loans