1. Institutional Presentation
1Q12

2. Summary
History and Profile
PINE
History
Business Strategy
Competitive Landscape
Focus on the Client
Corporate Credit
Hedging Desk
PINE Investimentos and Distribution
Pillars
Rating Upgrades
Highlights and Results
Corporate Governance and PINE4
Organizational Structure
Corporate Governance
Committees
Capital Increase, Split, and Shareholder Structure
Dividends and Interest on own Capital
p
Appendix
Investor Relations | 1Q12 | 2/32

3. History and Profile

4. PINE
Specialized in providing financial solutions for large corporates…
Credit Portfolio by Annual Client Revenues
Up to R$150 March 31st, 2012
million
15%
Over R$1
R$150 billion
million to 52%
R$500
million
16%
R$500
million to
R$1 billion
$
17%
Profile
Focused on establishing long-term relationships with
g g p Business is structured along four primary business lines:
g p y
large corporates
• Corporate Credit: credit and financing products
Close relationships and product penetration • Hedging Desk: instruments for hedging and risk
management
• PINE I Investimentos: I
ti t Investment B ki
t t Banking and d
Investment/Wealth Management
• Distribution: Funding and investment solutions
for foreign and local investors
Investor Relations | 1Q12 | 4/32

5. History
...with extensive knowledge of Brazil’s corporate credit cycle.
1939 End of 2007 October, 2011
Pinheiro Family Focus on expanding the Corporate Banking franchise Subscription of PINE`s capital by DEG 1,015 1,029
founds Discontinuation of th payroll-deductible l
Di ti ti f the ll d d tibl loan b i
business
Banco Central do 867
Nordeste
October, 2007 827 825
Creation of the Hedging Desk 801
May, 2007
Creation of PINE Investimentos product line
and start up of Cayman branch
2005
1975 Noberto Pinheiro becomes
Noberto Pinheiro PINE’s sole shareholder 7,300
becomes one of 6,921
BMC’s controlling Corporate Credit Portfolio (R$ Millions) 335
shareholders 5,747
Shareholders' Equity (R$ Millions)
209
152 171 4,118
121 126 140 136
62 2,854 3,070
18
1,214
155 184 222 341 521 620 755 663 761
1997
Noberto and Nelson
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
Mar-12
Pinheiro sell their
stake in BMC and
found PINE
Asian Russian Devaluation Nasdaq Sept.
Sept 11 Brazilian Banco Santos Subprime Banco European
Crisis Crisis of the real Elections liquidity crisis Panamericano Community
(Lula)
March, 2007 May, 2012
IPO 15 years
Investor Relations | 1Q12 | 5/32

6. Business Strategy

7. Competitive Landscape
PINE serves a niche market of companies that lack adequate banking options, seeking a bank that fully
understands their needs…
Market
Consolidation of the banking sector has
decreased the supply of credit lines and financial
instruments for corporates
Large Multi-Services banks
Foreign banks are in a deleveraging process
g g gp
100% Corporate
PINE
Full service Bank – Credit, Hedging, and
100% focused on providing complete service Investment Bank products – with room for
to companies, offering customized products growth
Foreing banks
.
Corporate & SME
~10 clients per officer
Competitive Advantages:
SME & Retail
 Focus
 Fast response: Strong relationship with
clients, with credit committee twice a
week and answer to clients in up to one
Retail week
 S Specialized services
i li d i
 Tailor-made solutions
 Product diversity
Investor Relations | 1Q12 | 7/32

8. Focus Always on the Client
The bank develops a strategy of product diversity, tailored to meet the needs of each client.
CDs
CDIs
LCIs
Pricing of Assets and
CCBs
Private Liabilities
Placements
RDBs
Eurobonds
Liquidity
LCAs Management
Financial
Letters Fixed Income
CDBs Local Currency
Currencies
Trading
CRIs Debentures
Commodities
Foreign Currency
Equities
Distribution Treasury Working Capital
Working
Capital
g
Underwriting Overdraft
Capital Accounts
Markets Local Currency
Private BNDES Onlending
Placements Clients Onlending
Advisory PINE Corporate Bank Guarantees
Advisory
Investimentos Credit Foreign Currency Compror
Investment/
Structured/ Wealth Trade Finance ACC/ACE
Project Management Hedging Desk Structured
Export Finance
Finance Finance
Structured/
Credit Funds Project Bank Finimp
Finance Guarantees
Letters of Credit
Fixed Income Fixed Income Currencies
Funds 2,770 onlending
Syndicated and
Portfolio Commodities
Structured Loans
Management
Swap NDFs
Structured Swaps
Options
Investor Relations | 1Q12 | 8/32

9. Corporate Credit
Strong track record and solid credit origination and approval process.
Actions Credit Committee
Personalized, agile service, working closely with clients Meets twice a week – reviewing 20 proposals on average
and keeping a low client to account officer ratio: each
officer handles ~10 economic groups on average.
10 Minimum quorum: 4 members - attendance of CEO or
q
Chairman is mandatory
Geographic coverage of clients, providing the bank with
local and extremely up-to-date credit intelligence and
information. Members:
Chairman of the Board
Established long term relationship with more than 600
economic groups CEO
Chief Operations Officer
Origination network is comprised of 11 branches divided Chief Administrative Officer
into 14 origination platforms in Brazil’s major economic Chief Credit Officer
centers
More than 30 credit analysts, assuring that analysis is Participants:
fundamentally driven and based on industry-specific Executive Director of the Hedging Desk
intelligence Treasurer
Efficient loan and collateral processes, documentation, Credit Analysts
and controls, which has resulted in a low NPL track record Other members of the Corporate Banking
origination team
pp
Credit Approval: Electronic Process
Regional Heads of
Vice President and
Origination Officers Credit Analysts Origination and Credit CREDIT COMMITTEE
Analysts of Credit
Analysis
Credit origination analysis, clients,
Credit analysis visit to clients data sizing, collateral,
Discussion on sizing collateral Presentation to the Credit Committee Centralized and unanimous
updates, interaction with internal structure, etc. decision making process
research team
Investor Relations | 1Q12 | 9/32

10. Hedging Desk
PINE is the 1st player in terms of commodities to clients¹.
Client Notional Derivatives Portfolio by Market Notional Value and (MtM)
March 31st, 2012
Notional Value R$ Millions
MtM
MtM Stressed 358 354 354
Fixed 236
Currency 224
Income
30% 62%
178 157
106 126
84
Commodities
8% 3,428
3 428 3,457
3 457 3,709
3 709 3,712
3 712 4,287
4 287
Notional: R$4.3 billion
Mar -11 Jun-11 Sept -11 Dec-11 Mar -12
Market Segments Portfolio Profile
Fixed Income: Fixed Floating Inflation Libor
Fixed, Floating, Inflation, Scenario on March 31st
March,
Duration: 198 days
Currencies: Dollar, Euro, Yen, Pound, Canadian Dollar,
Australian Dollar Mark-To-Market : R$126 million
Commodities: Sugar, Soybean (Grain, Meal and Oil), Corn,
Cotton, Metals, Energy
Stress Scenario (Dollar: +31% and Commodities Prices: -30%):
Stressed MTM: R$354 million
*Source: Cetip Report, March 2012.
Investor Relations | 1Q12 | 10/32

11. PINE Investimentos and Distribution
...adding value for clients, while optimizing the use of the Bank's capital.
PINE INVESTIMENTOS
Market Segments
Volume of Underwriting Transactions Revenues
16
Capital Markets:
Structuring and Distribution of Fixed
317
Income Transactions
Financial Advisory
Project Finance 233
M&A
Hybrid capital transactions
1
0
-
Assets under Management
1Q11 4Q11 1Q12 1Q11 4Q11 1Q12
Fixed Income
Credit Funds
Exclusive Mandates
Distribution Desk
Portfolio Management
Local and Foreign Investors
Family Offices Corporates Financial Institutions Foreign Investors
High Net Worth Individuals Asset Managers Pension Funds
Investor Relations | 1Q12 | 11/32

12. Pillars
Strategy supported by solid fundamentals, built and achieved over the years…
Adequate capital structure Strong and motivated team
Capital Adequacy Ratio (BIS) of 16.4%
16 4% Meritocracy
Regulatory Capital: R$1.3 billion Right incentives
DEG and PINE partnership Highly qualified team
R$ 237 million subordinated debt, qualified as Tier
II capital
Corporate clients Efficient funding structure
Strong relationship Longer average maturities: 17 months (Mar/12)
Customized service Greater diversification of funding sources
In-depth knowledge of client needs USD25 million 10 year funding with Proparco
Product diversity USD37.5 million funding uptake in Islamic format
with the Saudi bank Al Rajhi
USD106 million A/B Loan (Jan/11) with the IIC
Investor Relations | 1Q12 | 12/32

13. Rating Upgrades
...with market recognition and positive evaluation by rating agencies.
On December 7th, 2011: On May 14th, 2012
PINE’s rating in global scale, to Foreign and Local Currency Long-
BB+ from BB- (two notches) Term IDR to 'BB' from 'BB'-
PINE’s rating in national scale, to National Long-Term Rating to
brAA from brA (three notches) 'A+(bra)' from 'A(bra)'
Viability rating upgraded to 'bb'
On August 23rd, 2011: from 'bb-'
Local currency rating, to brA from Banco Pine S.A. USD 125 million
brA- Subordinated notes to 'B+' from 'B'
Reaffirmed the Rating in foreign
currency in BB-
Revision from PINE’s outlook to
positive
The agency based its ratings on the strong asset- Fitch attributed this upgrade to the diversification of
quality, adequate liquidity, capital, and earnings. PINE's funding profile and its good assets and
S&P also emphasizes the gradual funding liabilities management, provided by the adequate
diversification,
di ifi i through
h h foreign
f i issuances,
i match of the credit and funding books. In addition,
h f h di d f di b k ddi i
securitizations, and the recent capital increase the Agency considered that the positive liquidity gap
subscribed by DEG 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,
income mainly due to higher product penetration is
penetration,
a good indicator of the successful maintenance of
profitability levels.
Investor Relations | 1Q12 | 13/32

14. Highlights and Results

15. 1Q12 Key Figures
The main indicators showed improvement in the period…
R$ Millions
Expanded Corporate Corporate Credit Total Funding
Credit Portfolio1 Coverage
25.4 % 80 bps 20.7%
2.7% 3.5% 6,421
7,300 5,322
5,823
5 823
Mar -11
11 Mar -12 Mar
M -11 Mar
M -12 Mar
M -11 Mar
M -12
1 Includes guarantees and private securities
Shareholders´ Equity Net Income ROAE
430 bps
17.1 %
51.6%
879 1,029 31 47 15.2% 19.5%
Mar-11 Mar-12 1Q11 1Q12 1Q11 1Q12
Investor Relations | 1Q12 | 15/32

16. Product and Revenue Diversification
...with contributions from all business lines, as a result of the strategy of complete service to clients.
Clients with more than one Product Penetration Ratio – Clients with more than one Product
More than 1 product 1 product
3.0
60% 56% 42%
2.7
2.5
40% 44% 58%
Mar -10 Mar -11 Mar -12 Mar -10 Mar -11 Mar -12
Corporate Revenues Breakdown
1Q11 1Q12
PINE
Investimentos
0.5%
Corporate
Treasury Credit PINE
3.4% 69.0% Investimentos
Corporate
10.2%
10 2%
Credit
57.3%
Treasury
8.2%
Hedging Desk
27.1%
Hedging Desk
24.3%
Investor Relations | 1Q12 | 16/32

17. Credit Portfolio
The portfolio continued to grow, +5.3% QoQ and +25.4% YoY…
R$ Millions
Expanded Corporate Credit Portfolio1
7,300
6,935
6 935
6,732 1.021 Trade finance
6,314 782
765
5,773 5,823 782
5,292
5 292 547 622
1.687 1.684 Guarantees
4,828 1.534
569
4,556 1.022 1.372
1.117
722
827
840 883 883
881 BNDES Onlending
842 846 881 912
644 342
634 251 297
71 122
261 472
Private Securities
2,821 2,792 3,251 3,358 3,132 3,126 3,300 3,286 3,370
Working Capital
Mar-10 Jun-10 Sept-10 Dec-10 Mar-11 Jun-11 Sept-11 Dec-11 Mar-12
¹ Includes debentures, CRIs, and hedge fund shares
Investor Relations | 1Q12 | 17/32

18. Credit Portfolio Profile
... growing in a diversified manner…
Credit Portfolio by Industry Segments Geographic Distribution
Electric and Transportation
Renewable and Logistics Food Industry
Energy Foreingn Trade 5% 4%
5% North
8% Specialized 2%
Services Midwest
Infrastructure
4% 10%
8%
Meatpacking
3% Northeast
Agriculture 5%
8% Metal and Mining
3%
South
7%
Beverages and
Tobacco
3%
Construction
9% Vehicles and Southeast
Parts 76%
3%
Chemicals
2%
Sugar and Ethanol
20% Telecom
Financial
Others 2%
Instituions
9% Materials of 2%
Constrution and
Decoration
D ti
2%
Investor Relations | 1Q12 | 18/32

19. Credit Portfolio Quality
... with quality, collaterals, and adequate credit coverage.
Credit Portfolio Quality – March 2012 Non Performing Loans > 90 days
B
Contracts Overdue
32.7%
Installments Overdue
0.7% 0.7%
0.6%
0.5% 0.5%
C 0.3%
0 3% 0.3%
0 3% 0.3%
0 3%
11.1%
0.2% 0.2%
D-E
1.5%
AA-A
AA A F-H
52.7% 2.0%
Mar-11 Jun-11 Sept-11 Dec-11 Mar-12
Total Credit Coverage Collaterals
80 b
bps
-10 bps Products
Pledge
Guarantees 44%
2%
Investments
3%
2.7% 3.6% 3.5%
Properties
Pledge
20% Receivables
Mar-11 Dec-11 Mar-12 31%
Investor Relations | 1Q12 | 19/32

20. Funding
Diverse sources of funding…
R$ Millions
6,544 Trade Finance
6,421
6,248
5,936 753 Private Placements
841
814
5,437 5,322 596 250
5,182 125 Multilateral Lines
102 86 353 276
377 435 310
267 246 233
4,622
4 622 413 158 237
160 172 220 281 291 International Capital
4,304 166 194 282 247 256
200 21 Markets
405 194 201
151 - 33 867 868
448 829 898 867 Local Capital Markets
227 626
87 203 867 112 31
239 - 46 42 53 66 106 161
224 320 210 165 250 281
276 453 41 228 BNDES
- 36 198 214 272 212
242 201
50 218
248 175
85 1,196 1,186 Demand Deposits
1,287 1,253
1,463 1,530 1,114
1,064
1 064 1,124
Interbank Time D
I t b k Ti Deposits
it
High Net Worth Individual
1,965 2,130 2,128 Time Deposits
1,646 1,654 1,720 1,845
1,566 1,592
Corporate Time Deposits
Institutional Time
Mar-10 Jun-10 Sept-10 Dec-10 Mar-11 Jun-11 Sept-11 Dec-11 Mar-12 Deposits
Investor Relations | 1Q12 | 20/32

21. Asset & Liability Management
... presenting a positive gap of 3 months between the credit and funding portfolios.
Matching of Transactions
Credit Exposure to Total Funding Ratio
CREDIT FUNDING
88%
82% 81%
80%
BNDES BNDES 76%
Trade Finance Trade Finance
Deposits
Working Capital, Private
Letras Financeiras
Securities* And Cash
*I l d d b
Includes debentures, CRI eurobonds, and h d f d shares
CRIs, b d d hedge fund h Offshore F di
Off h Funding
Mar-11 Jun-11 Sept-11 Dec-11 Mar-12
ALM Deposits vs. Total Funding
R$ Millions R$ Millions
,
4,304 5,322 6,421
Credit Funding
2,668
2,336 30%
37% 41%
1,969
1,608 1,594
, Others
1,432
1 432
Deposits
915
70%
435 63% 59%
- 31 109 144
No maturity Up to 3 From 3 to 12 From 1 to 3 From 3 to 5 More than 5
months months years years years
(includes
Cash) Mar-10 Mar-11 Mar-12
Investor Relations | 1Q12 | 21/32

22. Capital Adequacy Ratio (BIS)
...and strong capitalization ratios.
Tier II Tier I
Minimum Regulatory
Capital (11%)
19.6%
18.5% 18.4% 18.5%
17.4% 17.1%
16.6% 4.5% 16.4%
3.9% 3.6% 4.2%
14.9% 3.6% 3.7% 3.4% 3.1%
3 1%
0.5%
14.4% 14.6% 14.8% 13.8% 13.4% 13.2% 15.1% 14.3% 13.3%
Mar -10 Jun -10 Sept -10 Dec -10 Mar - 11 Jun -11 Sept -11 Dec -11 Mar -12
R$ millions Bis Ratio(%)
Tier I 1,025 13.3%
Tier II 237 3.1%
Total 1,262 16.4%
Investor Relations | 1Q12 | 22/32

23. Guidance 2012
PINE is ready to capture 2012's business opportunities, and reaffirms the guidance for 2012.
Guidance
Expanded Corporate Credit Portfolio 17% - 22%
Personnel and Ad i i
P l d Administrative Expenses
i 8% - 12%
2%
NIM 5.5% - 7.5%
ROAE 17% - 20%
Investor Relations | 1Q12 | 23/32

24. Corporate Governance and PINE4

25. Management Structure
Non-bureaucratic, entrepreneurial, and meritocratic culture with a flat hierarchy, speeding the decision
making process.
Noberto Pinheiro Noberto Pinheiro Jr Maurizio Mauro Gustavo Junqueira Mailson da Nóbrega Antonio Hermann
Chairman Vice Chairman Independent External Member Independent Independent
Member Member Member
EXTERNAL AUDIT INTERNAL AUDIT COMPENSATION
AUDIT COMMITTEE
PWC Tikara Yoneya COMMITTEE
CEO
Noberto Pinheiro Jr
ASSET MANAGEMENT HUMAN RESOURCES
Dan Cohen Sidney Vilhena
COO CRO CAO CFO
Norberto Zaiet Gabriela Chiste Ulisses Alcantarilla Susana Waldeck
International Credit Cash Flow Management Controlling
Origination Compliance & Internal Asset & Liabilities Back Accounting
Investments Controls Office Tax Planningg
Sales & Trading Risks Legal IT
Research Macro / Collaterals Management Accounts Payable
Commodities Special Assets Office Management
Middle Office Marketing
Investor Relations
From April 2012 on
Investor Relations | 1Q12 | 25/32

26. Corporate Governance
PINE has the best corporate governance practices…
Three 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
Antonio Hermann: Former CEO of Banco Itamarati, Director at FEBRABAN and elected Director of
Brazilian Banking Association
Gustavo Junqueira: Former Head of PINE Investimentos, Member of the Board of Directors at
EZTEC, Financial Advisor at Arsenal Investimentos and CFO at Gradiente Eletronica
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
shareholders, non voting
Arbitration procedures for fast settlement of litigation cases
First Brazilian bank to release BR GAAP and IFRS quarterly
Investor Relations | 1Q12 | 26/32

27. Committees
…favoring collective decision making.
Main decisions are taken by committees: Board of Directors and a structure of specific committees
Non-stop exchange of knowledge, ideas, and information
p
Transparencyy
45 days BOARD OF DIRECTORS
RISK COMPENSATION AUDIT
COMMITTEE COMMITTEE COMMITTEE
45 days Bi-annually Monthly
CEO
COMMITTEES
TREASURY INTERNAL
INVESTMENT HUMAN PERFORMANCE
EXECUTIVE CREDIT COMMITTEE LITIGATION CONTROLS AND IT ETHICS
BANK RESOURCES EVALUATION
ALCO COMPLIANCE
Monthly Twice a week Weekly Weekly Bi-monthly Every 2 months Monthly 45 days Quarterly On demand
From April 2012 on
Investor Relations | 1Q12 | 27/32

28. Capital Increase, Split, and Shareholder Structure
Successful capital increase done in September and approved by the Central Bank in December.
The first and only equity investment by DEG in a Brazilian bank. The agreement will expand the collaboration between
the two institutions
institutions.
Split adjusted price per share: R$15.06
Total shares: 2,904,228 preferred shares
Total amount: R$43,749,988.80
Approximately 14% split on February 27th.
Split ratio: 14.18
New shares issued: 12,274,766
Ownership structure:
As of M arch 31, 2012
Common Preferred Total %
Controlling Shareholder 51.886.766 15.595.863 67.482.629 68,3%
M anagement
g t - 5.155.650
5 155 650 5.155.650
5 155 650 5,2%
5 2%
Free Float - 26.214.495 26.214.495 26,5%
Individuals - 3.608.935 3.608.935 3,7%
Institutional Investors - 10.445.307 10.445.307 10,6%
Foreign Investors - 12.160.253 12.160.253 12,3%
Total 51.886.766 46.966.008 98.852.774
Investor Relations | 1Q12 | 28/32

29. Dividends and Interest on Own Capital
PINE has delivered an attractive dividend yield paying dividends/interest on own capital on a quarterly
basis.
55
45
40
35 35
33
30
25 25
16 15
1S07 2S07 1S08 2S08 1S09 2S09 1S10 2S10 1S11 2S11 1Q12
Investor Relations | 1Q12 | 29/32

30. Appendix

31. Social Investment and Responsibility
PINE supports and promotes the Brazilian culture and sports
Culture
Social
Paulo von Poser: exhibit of the painter Paulo
von Poser, who is one of Brazil’s most prominent
Instituto Alfabetização Solidária artists
Instituto Casa da Providência 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
Sports Rio Festival
Minas Tênis Clube: training program for
athletes Responsible Credit
“Lists of E
“Li f Exceptions”: the B k d
i ” h Bank does not fi finance
projects or those organizations that damage the
environment, are involved in illegal labor
Most Green Bank practices or produce, sell or use products,
substances or activities considered prejudicial to
society.
y
System of environmental monitoring, financed by
the IADB and coordinated by FGV, and internally-
produced sustainability reports for corporate
loans.
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 on
lending to companies focused on renewable energy and
ethanol.
Investor Relations | 1Q12 | 31/32

32. Investor Relations
Noberto Pinheiro Jr.
CEO
Susana Waldeck Norberto Zaiet Jr.
CFO COO
Raquel Varela
Head of Investor Relations
Alejandra Hidalgo
Investor Relations Manager
Phone: +55-11-3372-5343
www.pine.com.br/ir
ir@pine.com.br
This presentation contains forward-looking statements related to business prospects, estimates for operating and financial results, and estimates related to prospects for growth at Banco Pine. These are
merely projections and as such are based exclusively on the expectations of Banco Pine’s management concerning the future of the business and its continued access to capital to fund the Company’s
business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, and the performance of the Brazilian economy and
the industry, among other factors and risks disclosed in Banco Pine’s filed disclosure documents, and are, therefore, subject to change without prior notice.
Investor Relations | 1Q12 | 32/32