4Q12 Institutional Presentation

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History and Profile

PINE History

Business Strategy

Competitive Landscape Focus on the Client Corporate Credit FICC PINE Investimentos Pillars Rating Upgrades

Highlights and Results

Corporate Governance and PINE4

Organizational Structure Corporate Governance Committees Dividends and Interest on own Capital

Appendix

Summary

History and Profile

4/32 Investor Relations | 4Q12|

PINE Specialized in providing financial solutions for wholesale clients…

Credit Portfolio by Annual Client Revenues

Profile

December 31th, 2012

Focused on establishing long-term relationships

Profound knowledge and product penetration

Business is structured along four primary business lines:

• Corporate Credit: credit and financing products • FICC: instruments for hedging and risk

management • Capital Markets: Structuring and Distribution of

Fixed Income Transactions. • Financial Advisory: Project & Structured Finance,

M&A, and hybrid capital transactions.

Over R$1 billion57%

R$500 million to

R$1 billion19%

R$150 million to

R$500 million

19%

Up to R$150 million

5%

5/32 Investor Relations | 4Q12|

155 184 222 341 521 620 755 663 761 1,214

2,854

4,254 4,804

6,016

7,065

7,948

18 62

121 126 140 136 152 171 209

335

801 827 825

867

1,015

1,220

Dec

-97

Dec

-98

Dec

-99

Dec

-00

Dec

-01

Dec

-02

Dec

-03

Dec

-04

Dec

-05

Dec

-06

Dec

-07

Dec

-08

Dec

-09

Dec

-10

Dec

-11

Dec

-12

Corporate Credit Portfolio (R$ Millions)

Shareholders' Equity (R$ Millions)

History ...with extensive knowledge of Brazil’s corporate credit cycle.

1997 Noberto and Nelson Pinheiro sell their stake in BMC and

found PINE

March, 2007 IPO

1939 Pinheiro Family

founds Banco Central do

Nordeste

1975 Noberto Pinheiro becomes one of

BMC’s controlling shareholders

Devaluation of the real

Nasdaq Sept. 11 Brazilian Elections

(Lula)

Subprime Asian Crisis

Russian Crisis

European Community

May, 2012 15 years

End of 2007 Focus on expanding the Corporate Banking franchise

Discontinuation of the payroll-deductible loan business

May, 2007 Creation of PINE Investimentos products line and

opening of the Cayman branch

2005 Noberto Pinheiro becomes PINE’s sole

shareholder

October, 2007 Beginning of the FICC Business

October, 2011 Subscription of PINE’s capital by DEG

August, 2012 Subscription of PINE’s capital by DEG, Proparco, Controlling Shareholder and Management

November, 2012 Opening of the broker dealer in New York, PINE Securities USA LLC

Business Strategy

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Competitive Landscape PINE serves a niche market of companies that lack adequate banking options, seeking a bank that fully understands their needs.

100% focused on providing complete service to companies, offering customized products

.

Corporate & SME

SME & Retail

Retail

100% Corporate

Large Multi-Services banks

Market

Consolidation of the banking sector has decreased the supply of credit lines and financial instruments for corporate Foreign banks are in a deleveraging process

PINE

Full service Bank – Credit, Hedging, and Investment Bank products – with room for growth ~10 clients per officer Competitive Advantages: Focus Fast response: Strong relationship with

clients, with the credit committee meeting twice a week and response times to clients of no more than one week

Specialized services Tailor-made solutions Product diversity

Foreign and Investment Banks

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Focus Always on the Client The bank develops a strategy of product diversity, tailored to meet the needs of each client.

Working Capital

CDIs

Bank Guarantees

Exclusive Funds

Portfolio Management

Swap NDFs Structured Swaps

BNDES Onlending

Bank Guarantees

Compror

ACC/ACE

Export Finance

Finimp Letters of Credit

2,770 onlending

Overdraft Accounts

Syndicated and Structured Loans

Fixed Income

Currencies

Commodities

Equities

CDBs

CDs

RDBs

LCAs

LCIs

Debentures CRIs

CCBs

Eurobonds

Private Placements

Financial Letters

Clients

Treasury

Corporate Credit

FICC

PINE Investimentos

Distribution

Capital Markets

Financial Advisory

Local Currency

Foreign Currency

Fixed Income Currencies

Commodities

Pricing of Assets and Liabilities

Liquidity Management

Trading

Local Currency

Onlending

Foreign Currency Trade Finance

Participation Funds

Options

Working Capital Underwriting

Corporate & Structured

Finance

M&A

Project Finance

Structured Finance

Private Credit Funds

Real Estate Funds

Rural Credit

Aircraft Financing

Investment Management

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Corporate Credit

Actions Credit Committee

Strong track record and solid credit origination and approval process.

Credit Approval: Electronic Process

Origination Officers

Credit origination Credit analysis, visit to clients, data updates, interaction with internal

research team

Credit Analysts Regional Heads of

Origination and Credit Analysis

Presentation to the Credit Committee

CRO, Executive Directors and Analysts

of Credit

Centralized and unanimous decision making process

CREDIT COMMITTEE

Meets twice a week – reviewing 20 proposals on average

Minimum quorum: 4 members - attendance of CEO or Chairman is mandatory

Members:

Chairman of the Board CEO Chief Operating Officer Chief Administrative Officer Chief Risk Officer

Participants:

FICC Executive Director Credit Analysts Other members of the Corporate Banking origination team

Personalized and agile service, working closely with clients and keeping a low client to account officer ratio: each officer handles ~10 economic groups.

Geographic coverage of clients, providing the bank with local and extremely up-to-date credit intelligence and information.

Established long term relationships with more than 600 economic groups

Origination network is comprised of 11 branches divided into 14 origination platforms in Brazil’s major economic centers

More than 30 credit analysts, assuring that analysis is fundamentally driven and based on industry-specific intelligence

Efficient loan and collateral processes, documentation, and controls, which has resulted in a low NPL track record

Discussion on sizing, collateral, structure, etc.

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FICC

Client Notional Derivatives Portfolio by Market

Market Segments

Notional Value and MtM

Portfolio Profile

Proven trackrecord: 2nd in commodity derivatives1.

Scenario on December 31st, 2012

Duration: 204 days

Mark-to-Market : R$197 million

Stress Scenario (Dollar: +31% and Commodities Prices: -30%):

Stressed MtM: R$498 million

December 31st, 2012

1Source: Cetip Report, December 2012

Fixed Income: Fixed, Floating, Inflation, Libor Currencies: Dollar, Euro, Yen, Pound, Canadian Dollar, Australian Dollar Commodities: Sugar, Soybean (Grain, Meal and Oil), Corn, Cotton, Metals, Energy

R$ millions

Commodities18%

Fixed Income

15%Currencies

67%

3,712 4,287 4,720 4,875 5,036

157 126

256 238 197

354 354

597 629

498

Dec-11 Mar-12 Jun-12 Sept-12 Dec-12

Notional value

MtM

Stressed MtM

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PINE Investimentos Consolidation of the Investment done through the year in the franchise.

Volume of Underwriting Transactions Revenues

Transactions

R$ Millions R$ Millions

Capital Markets: Structuring and Distribution of Fixed

Income Transactions.

Financial Advisory: Project & Structured Finance, M&A,

and hybrid capital transactions.

1

18

915

61

4Q11 3Q12 4Q12 2011 2012

306.7%

233 217 160

856

1,040

4Q11 3Q12 4Q12 2011 2012

21.5%

R$100,000,000

May, 2012

Promissory Notes

Coordinator

R$540,000,000

March, 2012

M&A

Exclusive Advisor

R$67,000,000

June, 2012

Promissory Notes

Coordinator

R$60,000,000

October, 2012

Promissory Notes

Coordinator

R$91,000,000

October, 2012

Debentures

Coordinator

R$52,000,000

July, 2012

Project Finance

Financial Advisor

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Pillars Strategy supported by solid fundamentals, built and achieved over the years…

Strong and motivated team

Meritocracy Right incentives Highly qualified team

Adequate capital structure

Capital Adequacy Ratio (BIS) of 16.2% Regulatory Capital: R$1.5 billion

Corporate clients

Strong relationship Customized service In-depth knowledge of client needs Product diversity

Efficient funding structure Longer average maturities: 17 months (Dec-12) Greater diversification of funding sources PINE issues the first Brazilian Huaso Bond in Chile, the transaction amounted to US$73 million with a 5-year term

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Rating Upgrades ...with market recognition and positive evaluation by rating agencies.

On December 7th, 2011: PINE’s rating in global scale, to BB+ from BB- (two notches) PINE’s rating in national scale, to brAA from brA (three notches)

On August 23rd, 2011:

Local currency rating, to brA from brA- Reaffirmed the Rating in foreign currency in BB- Revision from PINE’s outlook to positive

On May 11th, 2012 Foreign and Local Currency Long-Term IDR to 'BB' from 'BB'- National Long-Term Rating to 'A+(bra)' from 'A(bra)' Viability rating upgraded to 'bb' from 'bb-' Banco Pine S.A. USD 125 million Subordinated notes to 'B+' from 'B'

Fitch attributed this upgrade to the diversification of PINE's funding profile and its good assets and liabilities management, provided by the adequate match of the credit and funding books. In addition, the Agency considered that the positive liquidity gap allied with the good cash position evidences the Bank's overall solid financial strength. According to the Agency, the Bank’s continued increase in fee income, mainly due to higher product penetration, is a good indicator of the successful maintenance of profitability levels.

The agency based its ratings on the strong asset-quality, adequate liquidity, capital, and earnings. S&P also emphasizes the gradual funding diversification, through foreign issuances, securitizations, and the recent capital increase subscribed by DEG.

On August 23rd, 2012: PINE’s outlook upgraded to Positive

Moody's explained that the positive outlook reflects PINE’s profitability through a well-executed strategy, and which has ensured earnings recurrence. The rating action also captures the bank's improved funding diversification, well managed asset quality metrics and its good liquidity and capital management.

Highlights and Results

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4Q12 Events and Highlights

Positive revenue contributions from all business lines in 2012: 62.8% from Corporate Credit, 16.7% from FICC,

10.2% from Treasury and 10.3% from PINE Investimentos, consolidating its strategy.

PINE issues the first Brazilian Huaso Bond in Chile. The transaction amounted to US$73 million with a 5-year

term and the 2nd Islamic format issuance in the amount of US$37.5 million, with a 1-year term.

As announced in August, 2012, Proparco subscribed in February 2013 to approximately R$27 million in PINE4

shares.

Positive liquidity gap maintained for over 10 quarters: 14 months for credit, versus 17 months for funding.

Liquid balance sheet, influenced by increased funding that raised the cash position to R$1.8 billion, equivalent

to 50% of time deposits.

On December 11, 2012, PINE adopted the Equator Principles.

Once again, PINE is one of the 15 largest players in derivative transactions and the 2nd largest in commodity

derivative according to Cetip (OTC Clearing House).

According to Anbima’s Fixed Income Origination ranking, PINE was 9th in origination by number of transactions

and 11th by financial volume.

9th in credit to large companies, 15th largest bank in Brazil offering corporate credit, and 5th in wealth

generated per employee, according to the “Maiores e Melhores” ranking compiled by Exame magazine.

16/32 Investor Relations | 4Q12|

2012 Financial Highlights The main performance indicators continued to show positive development in the period…

R$ Millions

7,065 7,948

Dec-11 Dec-12

Total Credit Risk1

12.5%

1,015

1,220

Dec-11 Dec-12

Shareholders' Equity

20.2%

61

120

2011 2012

Fee Income

96.7%

162 187

2011 2012

Net Income

15.4%

17.2% 16.8%

2011 2012

ROAE

70 bps

17.9%2

6,544 7,062

Dec-11 Dec-12

Total Funding

7.9%

1 Includes Letters of Credit to be used, Bank Guarantees, Credit Securities to be Received and Private Securities (bonds, CRIs, eurobonds and fund shares) 2 Excludes capital increase of R$139.6 million incorporated into shareholders´equity in September 2012

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Product and Revenue Diversification ...with contributions from all business lines, fruits of the strategy of complete service to clients.

Clients with more than one Product Penetration Ratio – Clients with more than one Product

Revenue Mix

Corporate Credit63.7%

FICC24.7%

Treasury8.6%

PINE Investimentos

3.0%

2011

Corporate Credit62.8%

FICC16.7%

Treasury10.2%

PINE Investimentos

10.3%

2012

2.93.0

2.8

Dec-10 Dec-11 Dec-12

47% 59% 61%

53% 41% 39%

Dec - 10 Dec - 11 Dec - 12

More than 1 product 1 product

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Loan Portfolio1

The portfolio resumed its growth to reach 12.5% in the year… R$ millions

3,358 3,132 3,126 3,300 3,289 3,370 3,332 3,274 3,377

71 122 279 322 386 670 683 787 846 881 912 881 883 883

822 800 853 1,022 1,117

1,372 1,534 1,687 1,684 1,599 1,699

2,114

520 622 772

756 782 1,021 1,154 942

781

269 230

190 124 102

81 64 47 36

Dec - 10 Mar - 11 Jun - 11 Sept - 11 Dec - 11 Mar - 12 Jun - 12 Sept - 12 Dec - 12

Individuals

Trade finance

Bank Guarantees

Onlending

Private Securities

Working Capital

6,016 6,053 6,495

6,875 7,065

7,426 7,641 7,444

7,948

1 Includes Letters of Credit to be used, Bank Guarantees, Credit Securities to be Received and Private Securities (bonds, CRIs, eurobonds and fund shares)

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Loan Portfolio Quality

Loan Portfolio Quality

Credit Coverage

Non Performing Loans > 90 days

Collaterals

... with quality, collaterals, and adequate credit coverage.

December 31st, 2012

Products Pledge

46%

Receivables28%

Properties Pledge

23%

Investments1%

Guarantees2%

3.4% 3.5% 3.3%

4Q11 3Q12 4Q12

AA - A 51.0%

B 36.9%

C 7.6%

D - E 1.4%

F - H 3.1%

0.6% 0.7%0.6%

0.8%

1.2%

0.2% 0.2% 0.2%

0.4%

0.6%

Dec-11 Mar-12 Jun-12 Sept-12 Dec-12

Contracts overdue

Installments overdue

20/32 Investor Relations | 4Q12|

Continuous Loan Portfolio Management

4Q12 4Q11

Reduced exposure of the Sugar and Ethanol sector, from 18% to 15%;

Increased participation in other sectors such as Electric and Renewable Energy, Agriculture, and Construction;

Reshuffle of the 20 largest clients in approximately 25%;

20 largest clients represented 28% of the total portfolio.

Sugar and Ethanol15%

Electric and Renewable Energy

13%

Construction12%

Agriculture9%Infrastructure

6%Transportation and Logistics

5%

Specialized Services4%

Metallurgy4%

Foreign Trade4%

Food Industry3%

Vehicles and Parts3%

Metal and Mining2%

Chemicals2%

Telecom2%

Construction Material

2%

Meatpacking2%

Financial Institutions

2%Other10%

Sugar and Ethanol 18%

Construction 10%

Infrastructure 8%

Electric and Renewable Energy

8%Agriculture 7%Transportation

and Logistics 6%

Foreign Trade 5%

Specialized Services

4%

Meatpacking 4%

Food Industry3%

Financial Institutions

3%

Telecom3%

Vehicles and Parts3%

Beverages and Tobacco

3%

Chemicals2%

Metallurgy2%

Other11%

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Funding Diversified sources of funding…

R$ millions

1,592 1,720 1,845 1,965 2,130 2,128 2,153 2,056 2,245

1,530 1,114 1,287 1,253 1,196 1,186 1,228 1,177

1,174

214 218

212 228 250 281 223 213 146 320

272 210 165 106 161 194

176 121 42 41

53 66 112 31 33 33 30

829 867

898 867 934 868 813 840 903

21 33

247 256 281 291 553 640

901

194 185

205 237 246 233

295 260

409

160 282

267 310 353 276

234 156

152

158 155

84 86 250

125 118

180

173

377 435

596 814

686 841

1,089 1,073

808

Dec - 10 Mar - 11 Jun - 11 Sept - 11 Dec - 11 Mar - 12 Jun - 12 Sept - 12 Dec - 12

Trade Finance

Private Placements

Multilateral Lines

Intl Capital Markets

Local Capital Markets

Onlending

Demand Deposits

Interbank Time Deposits

High Net Worth Individual Time Deposits

Corporate Time Deposits

Institutional Time Deposits

5,322 5,437

7,062

5,902 6,248

6,544 6,421

6,933 6,804

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Asset & Liability Management ... presenting a positive gap between credit and funding.

ALM Deposits vs. Total Funding

Matching of Transactions

CREDIT FUNDING

BNDES BNDES

Trade Finance Trade Finance

Deposits Working Capital, Private

Securities1 and Cash Financial Bills

Intl. Funding 1 Includes debentures, CRIs, eurobonds, and fund shares

R$ Millions

Loan / Total Funding

R$ Millions

58% 54% 53%

42% 46% 47%

Dec-11 Sept-12 Dec-12

Others

Total Deposits

6,804 6,544 7,062

77%82%

76%72% 71%

Dec-11 Mar-12 Jun-12 Sept-12 Dec-12

-

3,256

2,312

1,447

449 133 30

2,017

1,628

2,148

1,030

209

No maturity Up to 3 months

(includes Cash)

From 3 to 12 months

From 1 to 3 years

From 3 to 5 years

More than 5 years

Credit Funding

23/32 Investor Relations | 4Q12|

Capital Adequacy Ratio (BIS) BIS ratio reached 16.2%.

R$ millions BIS Ratio(%)

Tier I 13.4%

Tier II 2.8%

Total 16.2%

1,220

257

1,477

13,8% 13,4% 13,2%15,1% 14,3% 13,3% 12,6% 14,0% 13,4%

3,6% 3,7% 3,4%4,5% 4,2%

3,1% 3,3%3,0% 2,8%

17,4% 17,1% 16,6%

19,6%18,5%

16,4% 15,9%17,0% 16,2%

Dec-10 Mar-11 Jun-11 Sept-11 Dec-11 Mar-12 Jun-12 Sept-12 Dec-12

Tier I Tier II

Minimum Regulatory Capital (11%)

24/32 Investor Relations | 4Q12|

Capital Increase Beginning of the subscription period.

On February 5, 2013 began the regulatory period of exercise of subscription rights and leftovers for the capital increase by Proparco, who will subscribe a total of R$26,954,999.40 at a unit price of R$14.28. In the regulatory period, shall be subscribed at least 1,887,605 shares and a maximum of 6,030,087 if all minority choose to join the subscription. Accordingly, the BIS ratio will increase in a minimum of 30 bps and a maximum of 60 bps. With the approval of the Central Bank, Proparco will hold approximately 1.7% of PINE’s shares.

Corporate Governance and PINE4

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Management Structure Non-bureaucratic, entrepreneurial, and meritocratic culture with a flat hierarchy, speeding the decision making process.

CEO Noberto N. Pinheiro Jr

COO Norberto Zaiet

CRO Gabriela Chiste

CAO Ulisses Alcantarilla

CFO Susana Waldeck

Origination Investment Banking Sales & Trading Research Macro / Commodities International

Asset & Liabilities Back Office Legal Collaterals Management Special Situations Middle Office

Controlling Accounting Tax Planning IT Accounts Payable Office Management Marketing Investor Relations

Credit and F.I. Research Compliance & Internal Controls Credit, Market ,and Liquidity Risks

INTERNAL AUDIT Tikara Yoneya

COMPENSATION COMMITTEE

AUDIT COMMITTEE

EXTERNAL AUDIT PWC

Noberto Pinheiro Noberto N. Pinheiro Jr Maurizio Mauro Gustavo Junqueira Mailson da Nóbrega

Chairman Vice Chairman Independent Director

External Director

Independent Director

HUMAN RESOURCES Sidney Vilhena

BOARD

27/32 Investor Relations | 4Q12|

Corporate Governance PINE commits to best corporate governance practices…

Two Independent Members and one External Member on the Board of Directors Mailson Ferreira da Nóbrega: Brazil’s Finance Minister from 1988 to 1990 Maurizio Mauro: Former CEO of Booz Allen Hamilton and Grupo Abril Gustavo Junqueira: Former Head of PINE Investimentos, Member of the Board of Directors at EZTEC, Financial Advisor at Arsenal Investimentos and CFO at Gradiente Eletrônica

São Paulo Stock Exchange (BM&FBovespa) Level 2 Corporate Governance

Audit and Compensation Committee reporting directly to the Board of Directors

100% tag along rights for all shareholders, including non-voting shares

Arbitration procedures for fast settlement of litigation cases First Brazilian bank to release BR GAAP and IFRS quarterly

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Committees …favoring collective decision making.

Main decisions are taken by committees Non-stop exchange of knowledge, ideas, and information Transparency

CEO

Twice a week Weekly Monthly Twice a month Every 2 months Weekly Monthly Quarterly On demand Every 2 months

Bi-annually Monthly 45 days

45 days

RISK COMMITTEE

AUDIT COMMITTEE

BOARD OF DIRECTORS

COMPENSATION COMMITTEE

COMMITTEES

CREDIT ASSET & LIABILITY

COMMITTEE ALCO

EXECUTIVE LITIGATION HUMAN

RESOURCES INVESTMENT

BANK PERFORMANCE EVALUATION IT ETHICS

INTERNAL CONTROLS AND

COMPLIANCE

29/32 Investor Relations | 4Q12|

Dividends and Interest on Own Capital PINE has delivered an attractive dividend yield paying dividends/interest on own capital on a quarterly basis.

R$ millions

25 25

33

45

30

35

40

35

55

40

60

2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12 2H12

Appendix

31/32 Investor Relations | 4Q12|

Social Instituto Alfabetização Solidária Instituto Casa da Providência

Sports

Minas Tênis Clube: training program for athletes

Most Green Bank Recognized by the International Finance Corporation (IFC), private agency programs of the World Bank as the most "green" bank as a result of its transactions under the Global Trade Finance Program (GTFP) and its onlending to companies focused on renewable energy and ethanol

Global Compact PINE joined the Global Compact initiative in October 2012. The UN initiative mobilizes the international business community to adopt fundamental and internationally accepted values in their business practices in the areas of human rights, labor relations, environment and combating corruption, which are reflected in ten principles.

Social Investment and Responsibility PINE supports and promotes the Brazilian culture and sports

Culture Paulo von Poser: exhibit of the painter Paulo von Poser, who is one of Brazil’s most prominent artists Quebrando o Tabu: documentary based on the analysis from the former President of Brazil, Fernando Henrique Cardoso, on the fight against drugs Além da Estrada: motion picture, which received the award for best director in the 2010 Rio Festival

Responsible Credit “Lists of Exceptions”: the Bank does not finance projects or those organizations that damage the environment, are involved in illegal labor practices or produce, sell or use products, substances or activities considered prejudicial to society. System of environmental monitoring, financed by the IADB and coordinated by FGV, and internally-produced sustainability reports for corporate loans.

Equator Principles

On December 11, 2012, PINE adopted the Equator Principles, which are principles applied to Project Finance transactions where total project capital costs exceed US$10 million and are based on International Finance Corporation Performance Standards on social and environmental sustainability and on the World Bank Group Environmental, Health, and Safety Guidelines (EHS Guidelines).

32/32 Investor Relations | 4Q12|

This report may contain forward-looking statements concerning the business prospects, projections of operating and financial results and growth outlook of PINE. These are merely projections and as such are based solely on management’s expectations regarding the future of the business. These statements depend substantially on market conditions, the performance of the sector and the Brazilian economy (political and economic changes, volatility in interest and exchange rates, technological changes, inflation, financial disintermediation, competitive pressures on products and prices and changes in tax legislation) and therefore are subject to change without prior notice. .

Investor Relations Noberto N. Pinheiro Junior

CEO

Susana Waldeck Norberto Zaiet Junior

CFO / IRO COO

Raquel Varela

Head of Investor Relations

Alejandra Hidalgo

Investor Relations Manager

Eduardo Pinotti

Investor Relations Analyst

Ana Lopes

Investor Relations Analyst

Phone: +55-11-3372-5343

www.pine.com/ir

ir@pine.com