Earnings Presentation

1st Quarter, 2014

Disclaimer: This presentation may include references and statements on expectations, planned synergies, growth estimates, projections of results, and future strategies for Banco

Votorantim, it’s associated and affiliated companies, and subsidiaries. Although these references and statements reflect the management’s belief, they also involve imprecision and

risks that are highly difficult to be foreseen. Consequently, they may conduct to different results from those anticipated and discussed here. These expectations are highly dependent on

market conditions, on Brazil’s economic and banking system performances, as well as on international market conditions. Banco Votorantim is not responsible for bringing up to date

any estimate in this presentation.

2

Net income of R$ 152M in 1Q14 Second consecutive quarter of positive results, maintaining the trajectory of gradual improvement

R$ 152M

net income

Net income of R$ 152M, exceeding both 4Q13 (R$ 121M) and 1Q13 (R$-278M) results

In 2014, Banco Votorantim shall consolidate the return to profitability

Net Interest Income (NII) increased 1.7% vs. 1Q13, totaling R$ 1,142M, despite 6.7% decrease in

the expanded credit portfolio in the last 12 months (focus on profitability)

Net Interest Margin¹ (NIM) of 4.9% p.y. – improvement of 0.7 p.p. on 1Q13

90-day NPL ratio of 6.2% in Mar/14, practically stable compared to Mar/13

• Excluding a specific Wholesale case, NPL 90 would have been 5.2%, 0.1 p.p. above Dec/13

BV has been originating quality auto finance portfolios for nearly 30 months

Expenses with credit provisions² reduced 43.6% vs. 4Q13 and 19.7% over 1Q13, totaling R$ 714M

• Better quality vintages reached 77% of the managed auto finance loan portfolio (57% in Mar/13)

90-day coverage ratio reached 124% in Mar/14 (Mar/13: 106%; Sept/11³: 78%)

Administrative and personnel expenses reduced 9.1% over 1Q13 (vs. 6.2% inflation – IPCA)

Efficiency Ratio for the last 12 months reached 40.7% (Dec/13: 43.6%; Mar/13: 51.5%)

1Q14 Highlights

Executive summary

Consistent

revenue

generation

Cost base

under control

Maintained

asset quality

1. Ratio between Net Interest Income and Average Interest-Earning Assets; 2. Net of income from recovery of written-off loans; includes ALL expenses of the portfolios assigned with recourse; 3. Beginning of the restructuring process

Reduced credit

provisions

3

Banco Votorantim – Overview

1Q14 Results

Annexes

Agenda

4

10 largest banks in Dec/13 – Total Assets (R$B)¹

106116

130

160495

763

777

858

Votorantim BTG Pactual

Safra

HSBC Santander

BNDES

Bradesco

CEF Itaú 1,027

Banco do Brasil 1,219

State-owned

Foreign

National privately-held

25

4654

55

195

281

291

351485

583

Banrisul Safra

HSBC Votorantim

Santander BNDES

Bradesco

Itaú CEF

Banco do Brasil

State-owned

National privately-held

Foreign

10th

7th

Banco Votorantim is one of the leading banks in Brazil “Top 10” in total assets, with robust and committed shareholders (Votorantim Group and BB)

Banco Votorantim – Overview

Banco Votorantim is one of the largest

privately-held Brazilian banks in total assets…

...and also in terms of loan portfolio

10 largest banks in Dec/13 – Loan Portfolio² (R$B)¹

1. Mar/14 information unavailable by the preparation of this presentation; 2. On-balance portfolio according to Bacen’s Res. 2,682

Equal

representation

of each

shareholder Board of

Directors

Executive Committee

Fiscal Council

Audit

Committee

Compensation

& HR

Committee

Statutory

Products &

Marketing

Committee

Finance

Committee

Operating Committes &

Commissions

Total: 50.00%

Voting: 49.99%

Non-voting: 50.01%

Total: 50.00%

Voting: 50.01%

Non-voting: 49.99%

Votorantim Group Banco do Brasil

Ownership Structure

Governance Structure

Shareholder

50% Total

5

Diversified business portfolio Focus on profitability and on increasing operating efficiency and synergies with BB

Shareholders

Pillars

Banco do Brasil Votorantim Group +

R$ 69.2B

Expanded credit portfolio²

Off-balance portfolio¹

R$ 3.6B

R$ 0.5B

Assigned to BB

Assigned to FIDCs

Strategy

Unification of the CIB and

Middle Market structures,

with efficiency gains

Consumer Finance

Auto

Finance

To originate portfolios with quality, scale and

profitability

To focus on used auto finance (multi-brand dealers)

To advance in new auto finance origination in

partnership with BB (new car dealers)

Other

Businesses

In Payroll loans, focus on

INSS (retirees and

pensioners) and refinancing

To expand synergic

businesses (credit cards,

insurance sales)

To explore new opportunities

together with BB (e.g.

syndicated loans, real

estate, “Mais BB”)

R$ 36.5B

R$ 30.0B R$ 6.5B

Wealth

Mgmt. & BVEP

Asset: 10th largest in the market, with innovative

products

R$ 40.6B AuM³

Increase synergies with BB

Private: focus on estate management through

custom-made solutions

BVEP: investments in real estate projects

Wealth Mgmt.

Corporate &

IB (CIB)

To be the best wholesale bank to our target clients,

with:

• Long-term relationships

• Focus on capturing synergies in the origination and structuring of integrated

financial solutions

• Efficient management of capital allocation and

expenses

Wholesale R$ 32.7B

1. Securitization with substantial risk retention before entry in force of Bacen’s Res. 3,533; 2. Includes guarantees provided and private securities

6

Highlights Corporate & Investment Bank (CIB)

Wholesale: continued focus on return on capital

and on strengthening the product portfolio

Wholesale Businesses

Large

companies

Medium

companies

Mar/14

32.7

25.8

6.9

Dec/13

35.1

27.5

7.6

Mar/13

36.5

27.3

9.2

Expanded credit portfolio¹ (R$B)

-9.4%

-6.1%

∆Mar14

/Dec13

-6.8%

Disciplined approach to capital allocation

• Credit selectivity

• Focus on products with low capital consumption (FX, IB)

• Accurate asset pricing

• Active management of the credit portfolio

• Reduced exposure to the “lower middle market”

Unification of the CIB and Middle Market structures, with

gains in operating efficiency

Increased relevance of BV to its target clients

• Strengthening the portfolio of products

• Enhancing international distribution (NY and London)

• Agile relationships, with long-term vision and industry

knowledge

Focus on capturing synergies in the origination and

structuring of Credit, Capital Markets, Derivatives and FX

Thorough monitoring of key credits in “financial

distress”, with focus on restructuring

Wholesale Businesses

Guarantees

provided 9.9 12.0 11.1

1. Includes guarantees provided and private securities

7

Consumer Finance: intensified focus on used auto

finance and INSS payroll loans (retirees and pensioners)

Payroll Loans Auto Finance

Consumer Finance Businesses

Managed loan portfolio (R$B) Managed loan portfolio (R$B)

-2.1%

On-

balance 30.0

33.0

Mar/14

Off-

balance 3.1

Dec/13

33.7

29.9

3.8

Mar/13

37.2

29.9

7.3

On-

balance

Off-

balance

Mar/14

7.1

6.0

1.1

Dec/13

7.6

6.3

1.3

Mar/13

9.5

7.4

2.1

Used/

Total¹ 76% 71%

INSS/

Total 63% 57%

Consumer Finance Businesses

Among market leaders in auto financing

Operates as an extension of Banco do Brasil in auto

finance outside the branch network

Continuous improvement of credit processes

• 72%² automated credit decisions in Mar/14 (Dec/13:

65%; Jan/12: 28%)

1. Only on-balance loan portfolio; 2. Refers to light vehicles; 3. Banco Votorantim estimate; 4. Banking correspondents

7th largest player in the payroll loan market³

Focus on INSS (retirees and pensioners)

Focus on refinancing (vs. growth)

Selective operation in private and public payroll loans

4,292 Resolution (May/14): Credit portability

4,294 Resolution (Jan/15): Deferred Cobans4 payment

-20.3%

0.3%

∆Mar14

/Dec13

-17.6%

-4.4%

∆Mar14

/Dec13

8

Highlights

Wealth Management & Services

Wealth Management: Asset with focus on high value-added

products and Private with focus on estate management

Assets under Management¹ (R$B)

+3.2%

Mar/14

40.6

Dec/13

39.4

Mar/13

41.1

Asset Management

• Focus on high value-added structured products

• Top 10 in ANBIMA’s ranking of managers

• Continuous expansion of synergies with BB – volume of

partnership funds reached R$ 4.3B

• Partnership with Allianz Global Investors in order to better

serve institutional investors

Private Bank

• Focus on High and Ultra High clients (AuM > R$ 25M)

• Integrated estate management, through differentiated and

custom-made solutions

• ISO 9001:08 certification covering activities of Relationship,

Estate Management and Advisory

BVEP – BV Empreendimentos e Participações

• Focus on real estate, residential, commercial

and logistic projects

• Operates in SP, RJ, MG and DF

Wealth Management Businesses

Wealth Management Businesses

1. Includes onshore funds (ANBIMA criteria) and private clients resources; 2. Ranking of Managers

ANBIMA²

ranking 10th 9th 10th

9

Banco Votorantim – Overview

1Q14 Results

Annexes

Agenda

10

152121

-159-196

-278

-428-459-505

-596-643

156

385

-85

3Q11 1Q14 1Q12

+26%

4Q13 3Q13 2Q13 1Q13 4Q12 3Q12 2Q12 4Q11 2Q11 1Q11

Net Income of R$152M in 1Q14 Second consecutive quarter of positive results, maintaining the trajectory of gradual improvement

Focus of 2014 is on consolidating profitability.

In 2015, the focus will be on increasing ROE.

Net Income evolution (R$M)

-187 -1,988 -512

Consolidated results

11

Net Interest Income (A) 1,123 1,226 1,142 -6.9% 1.7%

ALL Expenses¹ (B) (889) (1,266) (714) -43.6% -19.7%

Net Financial Margin (A+B) 234 (40) 428 - 83.3%

Operating Income/Expenses (669) (58) (350) - -47.6%

Fee/Banking Fee Income 239 282 244 -13.5% 2.4%

Personnel Expenses (228) (292) (257) -12.0% 13.0%

Other Administrative Expenses (367) (400) (284) -29.2% -22.8%

Tax Expenses (124) (115) (111) -4.2% -11.1%

Other Operating Income/Expenses² (188) 468 57 -87.8% -130.3%

Net Income (Loss) (278) 121 152 25.6% -154.7%

(R$ Million)Var. 1Q14

/4Q13

Var. 1Q14

/1Q131Q13 4Q13 1Q14

Results have confirmed, once again, the progress

in Banco Votorantim’s restructuring process

Managerial Income Statement

Highlights of 1Q14 results Increased Net Financial Margin and reduced cost base

1. Includes expenses related to credit assignments with recourse (both on and off-balance), as well as revenues from write-off recovery; 2. Includes Other Operating

Income/Expenses, as well as Equity in Income of Associated Companies and Subsidiaries

Consolidated results

12

Consistent revenue generation NII increased 1.7% in 1Q14 / 1Q13, despite retraction of the credit portfolio in the last 12 months

1. Ratio between Net Interest Income and Average Interest-Earning Assets; 2. Includes guarantees provided and private securities; 3. Sum of income from loans and

irom sales or transfer of financial assets; 4. Expenses with the prepayment of credit assignments (before res. 3,533) amounted to R$ 23M in 1Q14 (R$ 80M in 1Q13)

Net Interest Income increased 1.7%

compared to 1Q13...

...despite reduction of 6.7% in the expanded

credit portfolio² in the period

Net Interest Income (R$M) and NIM¹ (% p.y.)

+1.7%

1Q14

1,142

4.9%

4Q13

1,226

5.0%

1Q13

1,123

4.2% -6.7%

Mar/14

69.2

Dec/13

71.8

Mar/13

74.2

Expanded credit portfolio² (R$B)

Growth of Consumer Finance’s loan³ revenues

• Reduced delinquency and increased interest rate

Reduction in expenses with the prepayment of assigned

portfolios4

Conservative position on credit concession

Focus on profitability (vs. growth)

Revision of Wholesale’s activity

Net Interest Income (NII)

13

Expanded portfolio (interest-earning)

reduced 3.6% vs. Dec/13

4.1 9.4 5.1

Expanded credit portfolio (R$B) (includes guarantees provided and private securities)

-6.6%

-2.1%

-9.4%

-6.1%

∆Mar14

/Dec13 -6.7% -3.6%

Large

Companies

Medium

Companies

Auto

Finance

Others¹

Mar/14

69.2

25.8

6.9

30.0

6.0

Dec/13

71.8

27.5

7.6

29.9

6.3

Mar/13

74.2

27.3

9.2

29.9

7.4 Payroll

Loans

-4.6% -12.3%

73.3

Mar/14

25.8

6.9

33.0

7.1

Dec/13

76.9

27.5

7.6

33.7

7.6

Mar/13

83.6

27.3

9.2

37.2

9.5

-9.4%

-6.1%

-4.4%

0.3%

∆Mar14

/Dec13

CIB

1. Credit cards and individual loans

Consistent revenue generation, despite retraction

of the credit portfolio in the last 12 months

Maintenance of the conservative approach in credit Credit portfolio retraction associated with the focus on business profitability

Credit portfolio by segment

Expanded managed credit portfolio (R$B) (includes off-balance securitization with substantial risk retention)

Reduction in off-balance securitization

explains greater drop in managed portfolio

Off-balance

securitization

14

Auto Finance: origination amounted to R$ 3.4B in 1Q14 Increased focus on used light vehicles and maintained conservative credit concession

Auto finance: origination amounted to R$ 3.4B

in 1Q14, with emphasis on used light vehicles

Mar/14

10.75³

26.8

Dec/13

10.0

25.5

Dec/12

7.3

23.5

Dec/11

11.0

26.4

Dec/10

10.75

24.6

Auto finance origination rate x Selic² rate (% p.y.)

+4%

Used light

vehicles

Other

vehicles¹

1Q14

3.4

2.7

(80%)

0.7

1Q13

3.3

2.5

(74%)

0.9

1Q12

2.7

1.7

(62%)

1.0

1Q11

5.1

2.7

(53%)

2.4

26% 32% 36% 38% 39%

4445444752

1Q14 4Q13 4Q12 4Q11 4Q10

-19%

∆1Q14

/1Q13

12% BV Financeira

(auto)

Selic

Banco Votorantim is one of the leading players

in the auto financing market

Consumer Finance – Auto Finance

BV maintained the focus on quality

and profitability of new vintages

Auto Finance origination (R$B) Down payment (%) and average tenor (months)

Down

payment

Average

tenor

1. Composed of trucks, motorcycles and new light vehicles; 2. Market’s benchmark interest rate; 3. Increased to 11.0% on Apr/14

15

Consumer Finance – Auto Finance

June/12 Dec/11

1.0

June/11 Dec/10

2.1

June/10 Dec/09

1.5

June/09 Mar/14

0.9

Dec/13

1.3

June/13 Dec/12

1.1

Auto finance: BV has been originating quality auto finance

for 30 months, focused on multi-brand dealers (used cars)

Vintages indicating lower quality

Inad 30¹ (by vintage)

Multi-brand dealers

New car dealers

1. % of each month’s production with first installments past due over 30 days; 2. Includes securitization with substantial risk retention before Bacen’s Res. 3,533

June09-

June10

average

Participation of lower quality vintages reduced to

less than ¼ of the managed auto finance portfolio

Lower quality vintages /

Managed auto finance portfolio²

23%27%

62%

Mar/14 Dec/13 Dec/11

Light vehicles – Origination by channel (R$B) and 1st payment default¹ (%)

16

100%101%93%

124% 147%

106%

Consumer Finance’s 90-day Coverage Ratio³ (%)

ALL expenses decreased in 1Q14 90-day Coverage Ratio increased in the last 12 months

1. Includes expenses related to credit assignments with recourse, as well as revenues from write-off recovery; 2. Specific case that was classified in the “G” risk level in

Mar/14, with 80% of provisioning (or R$ 481M); 3. Ratio between ALL balance and balance of operations past due over 90 days

Note: the consolidated and Consumer Finance 90-day Coverage Ratios were 78% and 68%, respectively in Sept/11 (beginning of the adjustment process)

Expenses¹ with credit provisions (R$M)

ALL expenses reduced

19.7% vs. 1Q13 and 43.6% vs. 4Q13

Coverage Ratio increased compared to Mar/13

and Sept/11 (beginning of adjustment process)

669563

417557

156 290

199

849

156

733

-43.6% -19.7%

1Q14

714

4Q13

1,266

3Q13

761

2Q13

959

1Q13

889

-81.6%

33.5%

∆1Q14

/4Q13

Mar/14

2,692 2,684

Dec/13

2,741 2,777

Mar/13

3,627 3,384

NPL 90 Balance (R$M) ALL Balance (R$M)

Specific

Wholesale case²

Managed loan portfolio’s 90-day Coverage Ratio³ (%)

3,563

Mar/14

4,421

Dec/13

3,081 4,514

Mar/13

4,056 4,313

78% in

Sept/11

Wholesale

Consumer

Finance

Credit indicators – ALL expenses and 90-day Coverage Ratio

17

1

2

3

4

5

6

7

8

9

10

Dec/13

1.9%

5.1%

6.6%

Sept/13

2.1%

5.5%

6.2%

Mar/14

5.0%

6.2%

6.3%

2.3%

6.9%

June/13

2.4%

%

7.7%

Dec/12

2.4%

6.6%

8.3%

Sept/12

2.4%

7.4%

9.4%

June/12

2.0%

7.5%

9.6%

Mar/12

1.8%

7.0%

8.9%

6.6% 7.1%

5.7%

Mar/13

Delinquency increased in 1Q14, mainly due to a

specific Wholesale case that became overdue

1. Specific case that was classified in the “G” risk level in Mar/14, with 80% of provisioning (or R$ 481M)

NPL 90 / Managed loan portfolio (%)

Consumer Finance Total Light Vehicles Wholesale

Excluding this Wholesale case¹,

NPL 90 would have ended Mar/14 at 5.2%

5.1%

Dec/13

1.9%

Mar/14

1.6%

5.2%

Excluding specific

Wholesale case¹

Credit indicators – Delinquency

18

Managed Loan Portfolio (A) 76,775 74,185 71,481 68,169 65,923 63,546 61,281 60,006 57,925

NPL 90 Balance 5,390 5,539 5,276 4,520 4,056 3,616 3,373 3,081 3,563

NPL 90 Quarterly Variation (B) 793 149 (262) (756) (465) (439) (244) (292) 482

Write-off (C) 693 1,079 1,269 1,439 1,144 1,339 902 869 832

New NPL (D=B+C) 1,486 1,228 1,007 683 680 900 659 578 1,314

New NPL Rate¹ (D/A) 1.88% 1.60% 1.36% 0.95% 1.00% 1.36% 1.04% 0.94% 2.19%

1Q12 3Q12 4Q12 1Q13 2Q13 3Q13NEW NPL

(R$ Million)4Q13 1Q142Q12

1.20%

2.19%

0.94% 0.94% 1.04% 1.36%

1.00% 0.95% 1.36% 1.60% 1.88%

0.83

1.31

4Q13

0.87 0.58

3Q13

0.90 0.66

2Q13

1.34

0.90

1Q13

1.15

0.68

4Q12

1.43

0.68

3Q12

1.27 1.01

2Q12

1.08 1.23

1Q12

0.69

1.49

1Q14

Impact of the specific Wholesale case is also

seen in the New NPL rate

1. Variation in the balance of NPL 90 + loans written-off to loss in the quarter, divided by loan portfolio by the end of the immediately preceding quarter; 2.Specific

case that was classified in the “G” risk level in Mar/14, with 80% of provisioning (or R$ 481M)

New NPL

rate

New NPL (R$B) Write-off (R$B)

Excluding

specific case²

Credit indicators – New NPL

19

BV continues to improve in cost management Personnel and administrative expenses reduced 9.1% in 1Q14 / 1Q13

Personnel and Administrative expenses

reduced 9% vs. 4Q13 and 22% vs. 1Q13

1Q14 personnel expenses benefited from

the reduction in expenses with labor claims

Note: in the last 12 months, the inflation rates IPCA and IGP-M reached 6,2% and 7,3%, respectively

1. Administrative expenses in 4Q13 were impacted by expenses related to restructuring process

Personnel and Administrative Expenses

Personnel and Administrative expenses (R$M) Personnel expenses (R$M)

367284

228

292

257

-9.1%

Administrative

Personnel

1Q14

541

4Q13

693

400¹

1Q13

595

208227 222

20

6535

Labor

claims

1Q14

292

257

4Q13

Others

1Q13

228

∆ 1Q14/

4Q13

-2.0%

-46.5%

-12.0%

∆ 1Q14/

4Q13

-12.0%

-29.2%

-21.9%

20

Total Personnel and Administrative Expenses (A) 595 601 604 693 541 -21.9% -9.1%

Total Revenues (B) 1,173 1,297 1,273 1,977 1,443 -27.0% 23.0%

Net Interest Income (NII) 1,123 1,112 1,154 1,226 1,142 -6.9% 1.7%

Fee/Banking Fee Income 239 253 257 282 244 -13.5% 2.4%

Equity in Income of Associated Companies and Subsidiaries 24 20 30 35 41 16.9% 69.1%

Other Operating Income/Expenses (213) (87) (168) 433 16 -96.4% -107.4%

Efficiency Ratio (A/B) - Quarter 50.7% 46.4% 47.4% 35.1% 37.5% 2.4 p.p. -13.2 p.p.

Efficiency Ratio - 12 months 51.5% 51.2% 51.2% 43.6% 40.7% -2.9 p.p. -10.8 p.p.

4Q13 1Q14Var. 1Q14

/4Q13

Var. 1Q14

/1Q131Q13 2Q13 3Q13

EFFICIENCY RATIO

(R$ Million)

12 months

Quarter

1Q14

40.7

37.5

4Q13

43.6

35.1

3Q13

51.2

47.4

2Q13

51.2

46.4

1Q13

51.5

50.7

Efficiency Ratio evolution (%)

Efficiency Ratio continued to improve in 1Q14,

reflecting the progress in cost management

Efficiency Ratio

21

152121

-159-196-278

428

-40

393

153234

1Q14 4Q13 3Q13 2Q13 1Q13

Summary: Net Income of R$ 152M in 1Q14 Consistent revenue generation, reduction in ALL expenses and cost base under control

Net Interest Income + Fee Income¹ Credit provision expenses - ALL

Personnel and Administrative Expenses Net income and Net financial margin

+1.8%

1Q14

1,386

4Q13

1,509

3Q13

1,411

2Q13

1,364

1Q13

1,361

367 351 363 400284

228 250 241292

257

-9.1%

Admin.

Person.

1Q14

541

4Q13

693

3Q13

604

2Q13

601

1Q13

595

733 669 563 417 557

290199

849

-19.7%

Cons. Finance

Wholesale

1Q14

714 156

4Q13

1,266

3Q13

761

2Q13

959

1Q13

889 156

Net financial margin (post provisions) Net income

-12.0%

-29.2%

∆1Q14

/4Q13

-81.6%

33.5%

∆1Q14

/4Q13

-43.6%

-21.9%

Consolidated results

1. Includes Banking Fee Income

R$ Million

22

Funding: continuous improvement of the funding profile Funding from Credit Assignments and Financing Bills represent 40% of total funding

Funding

-1.2%

Mar/14

74.7

16.7

15.9

13.9

7.5

6.1

6.0 4.3

4.3

Dec/13

75.6

16.1

15.7

12.8

7.4

6.7

6.9

5.8 4.3

Mar/13

82.5

20.3

14.1

9.7

6.7

9.7

7.0

9.4

5.6

25% 22%

17% 21%

12%19%

8%

10%12%

8%8%

8%

7%

11%

6%

Debentures

(repos)

Bills (LF, LCA e LCI)

Credit Assignments²

Subordinated debt

Loans and onlendings

Private securities

Time deposits (CD)

Others¹

Mar/14

74.7

6%

Mar/13

82.5

Funding evolution (R$B)

Additionally, Banco Votorantim has a stand-by credit

facility of ~R$7B from BB, which has never been tapped

1. Includes other deposits, debenture issuances, and box of options; 2. Credits assigned with substantial risk retention to FIDCs e to other FI, under Res. 3,533 (i.e. does not

include off-balance credit assignments) Note: International funding is 100% swapped for BRL

23

Basel Ratio of 14.5% in Mar/14, stable vs. Dec/13 Tier I Capital ended 1Q14 in 9.5%, composed entirely by Common Equity

1. Dec/13 Basel Ratio revised from 14.3% to 14.5% due to the refinement of the Capital Requirement (Credit risk) calculation methodology Source: Finance

Capital structure

Capital (PR) 11,430 11,217 10,770

Tier I 7,595 7,100 7,029

Common Equity Tier I 7,595 7,100 7,029

Additional Tier I Capital - - -

Tier II 3,835 4,117 3,741

Risk-Weighted Assets (RWA) 84,043 77,309 74,299

Credit risk 77,219 71,990 68,624

Market risk 4,260 1,678 1,513

Operational risk 2,565 3,641 4,162

Minimum Capital Requirement 9,245 8,504 8,173

Basel Ratio (PR/RWA) 13.6% 14.5% 14.5%

Tier I Capital 9.0% 9.2% 9.5%

Common Equity Tier I - 9.2% 9.5%

Additional Tier I Capital - - -

Tier II Capital 4.6% 5.3% 5.0%

Mar.13 Dec.13¹ Mar.14BASEL RATIO

(R$ Million)

24

Banco Votorantim – Overview

1Q14 Results

Annexes

Agenda

25

+3,2%

Mar/14

40,6

Dec/13

39,4

Sept/13

42,7

June/13

42,7

Mar/13

41,1

Mar/14

104.6

Dec/13

105.5

Sept/13

110.7

June/13

111.9

Mar/13

119.7

37,7 37,1 36,9 36,6 36,5

18,9 18,6 18,0 18,2 17,3

-2,0%

Consumer

Finance

Wholesale

Mar/14

53,8

Dec/13

54,9

Sept/13

54,9

June/13

55,7

Mar/13

56,5

Dec/13 Mar/14

7.34 7.14

Sept/13

7.10

June/13

7.13

Mar/13

7.67

Financial highlights

Financial highlights

Total assets Assets under management¹

On-balance loan portfolio Shareholders’ Equity

R$ Billion

1. Includes onshore funds (ANBIMA criteria) and private clients resources

26

Net Interest Income (A) 1,123 1,112 1,154 1,226 1,142 -6.9% 1.7%

ALL Expenses (889) (959) (761) (1,266) (714) -43.6% -19.7%

Net Financial Margin 234 153 393 (40) 428 - 83.3%

Average Interest-Earning Assets (B) 109,414 105,840 102,260 99,754 95,872 -3.9% -12.4%

Compulsory Reserves (Bacen) 929 491 200 113 94 -16.8% -89.9%

Interbanks Funds Applied 16,466 15,492 15,374 13,821 11,860 -14.2% -28.0%

Securities 35,278 33,719 31,360 30,924 29,568 -4.4% -16.2%

Loan Portfolio 56,742 56,138 55,326 54,896 54,350 -1.0% -4.2%

NIM (A/B) - Quarter 4.2% 4.3% 4.6% 5.0% 4.9% -0.1 p.p. 0.7 p.p.

NET INTEREST MARGIN (NIM)(R$ Million)

1Q13 2Q13 3Q13 4Q13 1Q14Var. 1Q14

/4Q13

Var. 1Q14

/1Q13

Net Interest Margin (NIM)

NIM evolution in last quarters reflects the focus on

profitability (vs. growth) and the improved asset quality

Financial highlights - NIM

27

Mar/14

7.6%

4,421

Dec/13

7.5%

4,514

Sept/13

6.5%

4,003

June/13

6.3%

3,996

Mar/13

6.5%

4,313

124%

147%

119%111%106%

Mar/14

3,563

Dec/13

3,081

Sept/13

3,373

June/13

3,616

Mar/13

4,056

ALL Balance (R$M) 90-day Coverage ratio¹ (%)

NPL 90 / Managed loan portfolio (%) NPL 90 / Credit loan portfolio (%)

ALL Balance/Managed loan portfolio ALL Balance (R$M)

Mar/14

5.0%

6.2% 6.6%

Dec/13

1.9%

5.1%

6.6%

Sept/13

2.1%

5.5%

6.9%

June/13

2.4%

5.7%

7.1%

Mar/13

2.3%

6.2%

7.7%

Mar/14

5.0%

6.3%

6.9%

Dec/13

1.9%

5.2%

6.9%

Sept/13

2.1%

5.7%

7.4%

June/13

2.4%

5.9%

7.6%

Mar/13

2.3%

6.4%

8.5%

Wholesale Total Consumer Finance

NPL 90 Balance (R$M) 90-day Coverage Ratio

Wholesale Consumer Finance Total

Credit quality indicators

Financial highlights - Credit

1. Ratio between ALL balance and balance of operations past due over 90 days

Note: refers to managed loan portfolio (includes credits assigned with substantial risk retention until Dec/11 (before Res. 3,533))