V National Meeting with Analysts and Investors 1

V National Meeting with Analysts and Investors 1

Schedule 1 2 Businesses leverage boost 2 Stabilization of loan delinquency 3 New scenario for Fee Income 4 Continued upgrade in productivity 5 Sustainable Businesses 6 What’s next?

Schedule 1 2 Stabilization of loan delinquency 3 New scenario for Fee Income 4 3 Businesses leverage boost Continued upgrade in productivity levels 5 Sustainable Businesses 6 What’s next?

Net Interest Income boosted by strong credit growth. . . R$ billion 15. 7 16. 7 18. 1 14. 2 24. 1 58. 0 36. 7 31. 3 20. 8 40. 0 23. 5 33. 6 14. 4 15. 1 14. 7 34. 5 21. 6 25. 3 17. 1 19. 2 2004 2005 2006 2007 Net Interest Income 4 Loan Revenues Other Interest Revenues 2008

. . . although the reduction in interest rates brings a spread contraction. 16. 2 8. 4 2004 19. 1 15. 3 8. 1 8. 6 2005 Selic - % 2006 11. 9 12. 5 7. 6 7. 1 2007 2008 Spread¹ - % NIM by Loan Portfolio - % 35. 7 30. 1 5 1 Net Interest Income over Earning Assets 28. 7 25. 4 9. 0 8. 4 8. 1 6. 9 5. 6 2004 6. 0 2005 5. 5 2006 6. 3 Individuals Businesses 21. 0 6. 7 5. 1 2007 2008 Agribusiness

In this scenario, NIM decrease is more than compensated by earning assets growth. . . 8. 6% 8. 4% 4. 8 8. 1% 7. 6% 7. 1% 3. 9 2. 3 1. 3 224. 8 101. 8 160. 7 0. 9 133. 2 88. 6 0. 4 -0. 9 -1. 2 2004 2005 Spread Effect 1 – R$ billion 2006 Volume effect 2 – R$ billion 1 Net Interest Income change related to spread variation 6 2 Net Interest Income change related to the Average Earning Assets growth 3 Spread – Net Interest Margin over Earning Assets -1. 2 2007 NIM 3 -1. 5 2008 Loan Portfolio – R$ billion

. . . demonstrated by the loan portfolio growth, that overcame the banking industry. 15. 9 15. 3 16. 5 16. 0 17. 1 224. 8 15. 1 R$ billion 160. 8 133. 2 88. 5 9. 0 30. 0 33. 4 101. 8 9. 2 38. 5 CAGR (%): 26. 2 13. 8 51. 9 20. 7 97. 2 30. 6 65. 5 32. 0 51. 9 16. 1 18. 4 24. 0 2004 2005 2006 1 Domestic Loan portfolio 11. 4 45. 1 35. 7 Market Share 1 - % 7 12. 2 63. 7 32. 0 2007 Individuals Businesses 48. 8 2008 Agribusiness Foreign

In individual’s businesses, payroll and car loans lead the credit growth. 48. 8 6. 7 R$ billion 2. 5 32. 0 24. 0 16. 1 0. 3 2. 0 1. 5 0. 9 2. 2 3. 1 8. 3 11. 9 10. 0 9. 7 9. 5 8. 2 10. 5 2004 2005 2006 2007 2008 Credit Cards Overdraft Account 117. 3 18. 4 0. 2 2. 5 3. 8 Others Payroll Loans 8 3. 0 2. 3 3. 8 7. 6 CAGR (%): 32. 0 17. 6 39. 7 85. 9 1. 4 Car Loans

Businesses loan portfolio almost reaching R$ 100 billion. . . 97. 2 R$ billion 34. 9 65. 5 51. 9 33. 4 13. 2 38. 5 23. 1 2004 2005 18. 3 62. 3 33. 6 2006 Middle and Large Companies 9 27. 6 24. 6 15. 4 20. 2 CAGR (%): 30. 6 40. 9 2007 SME 2008 32. 5

. . . and the Agribusiness credit growth is followed by the intensive use of risk mitigators. 63. 7 51. 9 R$ billion 45. 1 35. 8 30. 1 2004 2005 Businesses Individuals 10 Crop 08/09 14% 4% 11% 69% 11. 7 8. 5 4. 2 30. 5 Contracted Crop 08/09 18. 5 5. 3 25. 9 Agri Insurance 36. 6 2006 40. 2 2007 45. 2 2008 31% 58% 13% Agricultural Costs Insured Livestock Costs Not Insured Investment Marketing Agroindustrial Costs

The expressive growth in funding allowed business expansion. 20. 9 19. 1 19. 8 19. 6 19. 91 362. 6 14. 3 R$ billion 52. 0 45. 8 55. 0 160. 1 5. 8 31. 1 168. 2 5. 5 32. 8 29. 0 35. 8 44. 5 30. 5 49. 7 63. 5 76. 9 85. 5 2004 2005 2006 2007 Market Share - % Time Deposits 11 208. 1 5. 2 36. 7 260. 6 5. 6 1 As of sep/2008 51. 3 CAGR (%): 22. 7 25. 3 91. 4 40. 1 49. 3 13. 7 17. 4 72. 3 19. 7 Open Market Demand Deposits 149. 8 2008 Saving Deposits Others 31. 8

Schedule 1 2 Stabilization of loan delinquency 3 New scenario for Fee Income 4 12 Businesses leverage boost Continued upgrade in productivity levels 5 Sustainable Businesses 6 What’s next?

Loan Portfolio increase with maintenance of quality. . . 4. 3 4. 7 5. 0 3. 7 3. 6 6, 800 5, 743 5, 378 4, 527 3, 531 6. 6 5. 8 2004 2005 2006 2007 2008 Provision Expenses/Loan Portfolio¹ - % Provision Expenses - R$ million 5. 1 2. 8 3. 4 2. 1 2. 0 2004 13 1 Average Loan Portfolio 2 Net of Recovery 2005 6. 4 5. 4 2. 9 2. 7 2. 4 1. 1 1. 4 6. 1 2. 5 2006 2007 2008 Additional + Required Provision / Loan Portfolio - % Past Due Loans + 90 days / Loan Portfolio - % Losses² / Loan Portfolio - %

. . . confirmed by delinquency levels, lower than Banking Industry. Businesses Delinquency¹ - % 3. 9 3. 5 3. 7 2. 4 3. 4 2. 2 2. 0 1. 8 Dec/04 4. 3 Dec/05 Past Due 90 BI 3. 7 3. 2 2. 7 3. 3 2. 9 2. 4 Dec/06 Past Due 90 BB 1. 8 2. 0 1. 7 Dec/07 Past Due 15 BI 16. 4 Dec/08 Past Due 15 BB Individuals Delinquency¹ - % 13. 9 13. 8 12. 0 9. 9 12. 9 1 Contracted operations loan as reference for interest rate 9. 6 7. 6 6. 2 6. 7 Dec/04 Dec/05 Past Due 90 BI 13. 0 10. 5 8. 5 14 14. 7 6. 3 Dec/06 Past Due 90 BB 7. 0 6. 3 Dec/07 Past Due 15 BI 9. 6 8. 1 5. 9 Dec/08 Past Due 15 BB

2005’s Vintage¹ presented the highest delinquency rate Delinquency 90 days Highest Rate in 2005 = 6. 5% Months Annual Vintage Analysis (since 2005) Client Risk: A. B. C. D and E Delinquency: 90 days 15 1 Individual Loan Operations except overdraft account, credit cards and car loans

Agribusiness delinquency has shown lower delinquency levels than provisions. Agribusiness Delinquency - % 7. 4 7. 0 6. 1 5. 3 2. 2 4. 0 2. 0 1. 5 Dec/04 Dec/05 Past Due 90 BB Dec/06 1. 9 Dec/07 1. 8 Equalization Revenues – R$ million Dec/08 307 Required Provision/Loan Portfolio 287 140 1, 531 16 408 497 2004 2005 1, 351 821 2006 Equalization Revenues 2007 Weightening Factors 2008

Schedule 1 Businesses leverage boost 2 Stabilization of loan delinquency 3 New scenario for Fee Income 4 17 Continued upgrade in productivity levels 5 Sustainable Businesses 6 What’s next?

The great diversity of BB’s loan portfolio and its huge client base allows the growth of non-financial income. . . Fee Income R$ billion 7. 6 6. 6 2004 2005 8. 9 2006 Accounts - million 9. 9 10. 5 24. 4 1. 4 25. 7 1. 6 20. 8 23. 0 24. 2 25. 7 28. 5 2004 2005 2006 2007 2008 22. 1 1. 4 2007 2008 Individuals Asset Management R$ billion 124. 0 153. 5 220. 1 2004 2005 Businesses Revenues - Debit and Credit Cards 246. 3 R$ billion 64. 3 182. 7 24. 8 18 2006 2007 30. 4 1. 9 27. 4 1. 7 2008 2004 30. 3 2005 38. 6 2006 49. 1 2007 2008

. . . with an emphasis on non-banking businesses. R$ million Cards – Added Value 3, 607 2, 338 1, 940 1, 543 Insurance - Added Value 974 1, 511 2004 2005 2006 2007 2008 720 2004 19 889 2005 1, 130 1, 209 2006 2007 2008

Schedule 1 2 Stabilization of loan delinquency 3 New scenario for Fee Income 4 20 Businesses leverage boost Continued upgrade in productivity levels 5 Sustainable Businesses 6 What’s next?

Banco do Brasil cost income ratio approaches the level of private banks. . . Coverage Ratio 1 - % 127. 7 93. 1 102. 3 112. 9 124. 5 Efficiency Ratio 2 - % 54. 2 2004 2005 2006 2007 2008 2004 1 Fee Income / Personnel Expenses 21 2 Administrative Expenses / Operating Income (without one-off itens) 48. 1 47. 5 46. 2 45. 3 2005 2006 2007 2008

. . . with recurring productivity gains. . . Assets per Collaborator – R$ million Deposits per branch – R$ million 62. 4 5. 2 3. 9 2. 7 47. 0 3. 2 31. 0 2004 2005 2006 2007 2008 2004 22 234 243 2004 2005 278 2006 2007 2005 40. 0 2006 2007 2008 Loan per branch – R$ million Clients per Collaborator 301 35. 4 51. 8 313 2008 23. 8 25. 6 2004 2005 33. 5 2006 40. 1 2007 2008

. . . resultant from the mix of intensive tecnology and BB’s distribution network. Employees - thousand 79. 7 2004 83. 8 2005 82. 7 2006 81. 9 2007 Points of Service - thousand 89. 0 2008 14. 5 14. 8 15. 1 15. 3 16. 0 3. 7 3. 9 4. 0 4. 3 10. 7 10. 9 11. 1 11. 3 11. 6 2004 2005 2006 2007 2008 Others ATMs - thousand 23 Branches Transaction in Automated Channels - % 39. 0 40. 2 39. 7 39. 3 39. 7 88. 4 89. 2 90. 0 91. 3 91. 1 2004 2005 2006 2007 2008

Schedule 1 2 Stabilization of loan delinquency 3 New scenario for Fee Income 4 24 Businesses leverage boost Continued upgrade in productivity levels 5 Sustainable Businesses 6 What’s next?

BB has incorporated in its businesses sustainable principles. . . Training Hours 1 7, 344 thousand hours 3, 759 4, 071 4 Q 07 1 Q 08 4, 888 2 Q 08 Employees Turnover - % 5, 440 3 Q 08 4 Q 08 Loan Porfolio - BB Florestal R$ million 150. 3 163. 1 177. 0 1. 19 193. 6 217. 2 4 Q 07 0. 84 0. 86 1 Q 08 2 Q 08 0. 77 3 Q 08 4 Q 08 Loan Portfolio - BB Produção Orgânica 8. 0 R$ million 5. 3 5. 1 4. 9 1 Q 08 2 Q 08 3. 3 25 4 Q 07 1 Q 08 2 Q 08 3 Q 08 1 Hours accumulated in the last 12 months 4 Q 08 4 Q 07 4 Q 08

. . . reflecting in the company’s daily routine the concern with eco -efficiency practices. Water Comsumption / Employee Main Building (m 3) 28. 1 4 Q 07 26. 4 1 Q 08 25. 7 24. 3 23. 2 2 Q 08 3 Q 08 4 Q 08 Transactions without use of paper - % 35. 0 26 4 Q 07 White Paper Comsumption / Client (g) 133. 5 128. 5 125. 9 120. 0 116. 5 4 Q 07 1 Q 08 2 Q 08 3 Q 08 4 Q 08 Use of Toner (thousand units)1 37. 8 38. 3 39. 8 38. 6 22. 5 22. 4 22. 8 23. 1 22. 4 1 Q 08 2 Q 08 3 Q 08 4 Q 07 1 Q 08 2 Q 08 3 Q 08 4 Q 08 1 Reconditioned cartridges

Growth, effective risk management, diversification, productivity gains, compose BB’s business model. . . Boost of businesses operations 1 6. 70 2004 6. 84 2005 6. 59 2006 6. 27 2007 New scenario for Fee Income 3 5. 51 2008 Stability in Delinquency 2 2. 82 3. 11 3. 24 2. 98 2. 41 2004 2005 2006 2007 2008 Continued evolution of cost income Ratio 4 4. 85 27 1. 51 1. 84 2. 09 1. 62 1. 56 2004 2005 2006 2007 2008 1 Net Interest Income / Earning Assets 2004 3 Fee Income / Earning Assets 2 Allowance for loan losses / Earning Assets 4 Administrative Expenses / Earning Assets 4. 98 2005 4. 69 2006 4. 01 3. 36 2007 2008

. . . that allows BB to assume the commitment to generate value to shareholders. . . 2. 6 2. 2 1. 8 1. 7 2. 1 1. 3 1. 4 1. 3 1. 5 507. 3 367. 2 239. 0 253. 0 296. 4 22. 8 2005 Assets 1 2006 2007 - R$ billion 28 26. 1 22. 2 22. 5 6. 0 2008 3. 0 2004 24. 7 8. 8 5. 9 4. 2 3. 4 3. 7 5. 1 2005 2006 2007 Recurring Net Income 1 Financial Consolidated 19. 5 R$ billion Recurring Return over Assets ROA 32. 5 26. 8 23. 0 CAGR: 20. 7% 2004 32. 1 6. 7 2008 Recurring Return on Equity - %

… which is also seen in our 2009 commitments. Domestic Credit Portfolio Net Interest Margin Domestic Credit Portfolio Individuals: 23% - 25% 6. 8% - 7. 2% Total: 13% - 17% Companies: 16% - 19% Agribusiness: 2% - 5% Fee Income Recurring ROE Total Deposits 5% - 8% 19% - 22% 10% - 14% Administrative Expenses Tax Rate 9% - 12% 26% - 29% Allowance for Loan Losses 3. 8% - 4. 2% 29

Schedule 1 2 Stabilization of loan delinquency 3 New scenario for Fee Income 4 30 Businesses leverage boost Continued upgrade in productivity levels 5 Sustainable Businesses 6 What’s next?

Relating to credit, we foresee… Individuals Companies Payroll Loans • BNDES disbursement leadership. • Leverage the public servant customer base from payroll purchases and state banks acquisitions. • Capital Markets structure strengthening. • Operational activities specialization and centralization. Auto Loans • Synergic join venture with Banco Votorantim aiming at auto loans market share growth. 31 • Increase share in the credit cooperative market. • Keep up as SME’s main partner.

5% mortgage market share by 2013. Disbursements 2 - R$ billion 30 361 Business opportunities 291 18 • • 10 3 5 Assets growth Income fees increase Customer base expansion and fidelity Companies financing 2004 2005 2006 2007 2008 2009 2010 105 Mortgage- % GDP 17 14 11 4 2 China Argentina Brazil 26 France USA 36 Italy 2 Banking Industry - Savings 43 Japan 1 Estimates Portugal 32 England Source: ABECIP Netherlands 50 Chile 69 Germany 75

Banco do Brasil’s Agribusiness market share maintenance. Opportunities • Recovery of international demand • Strong domestic market • Production raise capacity • USA subsidies decrease • Agro-energy Banco do Brasil’s Guidelines Maintain Market Leadership Grow Agro book but decrease its share in BB’s total credit portfolio Increase risk mitigators use Brazilian Production Growth 1 Soybean Corn Meat 33 + 34. 7% + 25. 0% + 51. 1% 1 Source: MAPA, Crop 2018/2019 expected growth in relation to Crop 2007/2008 Reduce over rolled book Keep operations under reserve requirements level Agro book mostly with controlled rates Focus on short term operations Improve Agro book risk Social-environmental Responsibility

Active role in the Foreign Trade with efficiency gains. 2009 Estimates Foreign Exchange US$ 73 billion Financing US$ 17 billion Initiatives BB • Online Foreign Trade / Digital Signature Exporting US$ 44 billion 28% share Exporting US$ 14 billion • Documents Digitalization / Electronic File • International Trade Bureau • Vanguard in Foreign Trade Credit Card Importing US$ 29 billion 25% share 34 Importing US$ 3 billion • Consult and training in international business

Cards’ Market Opportunities: 22% market share by 2014. Cards’ Market Billing Potential with the perspective of market share increase by BB 15. 6% Share BB - 22% 2014 Share BB – 17% 900 867 R$ billion 446 375 159 04 35 200 05 245 • Platform integrated to banking services granting more synergy with check account. • Replacement of other payment 302 means. • Low income customers attractions. it 07 • Multiple Functions Card. • Access to a different kinds of credit 741 l 630 be a L te 532 a iv Pr bit e D Cred 06 Initiatives BB 08 09 1 Souerce: ABECS, BCG/BB analysis. 10 11 12 13 14

Insurance: doubled by 2013 following market expansion. Expected market by 2013: Insurance ( % GDP ) - 2006 Ranking Capitalization - R$11 billion Supplementary Pension Plan - R$68 billion 17. 4 Auto - R$32 billion Life - R$18 billion 11. 2 Health - R$12 billion 10. 5 8. 9 7. 5 BB Initiatives 7. 0 36 3. 2 2. 8 Chile Brazil India Italy USA Germany • Grow partnerships Japan • Grow selling through call center and Internet France • Grow cross-selling in traditional means England • Intensify selling through brokerages Spain 5. 3 4. 9

Processes optimization due to improvements in technology and back-office model seeking productivity gains Back-office model restructuring and IT platform modernization 37 Back-office Modernization of BB’s Mainframe platform creation ATM Network, the structure and all around Brazil largest of Latin America processing revision Digitalization of all documents, including the pre-existing ones Linux install in all automated teller machines New data ware center

Business management generate sustainable results. Agenda 21 Social Processes, Products and Services Economic Credit and Socio -environmental analysis Environmental Eco-efficiency Transparency Program GRI Sustainability in BB’s businesses. 3, 000 2, 500 2, 100 1, 700 1, 211 1, 300 Regional Sustainable Development 726 Families Involved - thousands 2013 2012 2011 2010 2009 2008 2007 231 2006 38 2005 71

Customers Return Expansion Distribution Alternative Means Wide Distribution Network Diverse Product Portfolio Customers New Products Portfolio + + 48 million 9 million Organic Growth 1 8. 2% a. a. Ease Access ATMs 39 1 Check Accounts CAGR since 2004 New Technologies

Investor Relations Unit SBS - Quadra 1 - Bloco C - Ed. Sede III - 5 th floor 70073 -901 Brasília (DF) Phone: (61) 3310 3980 Fax: (61) 3310 3735 bb. com. br ri@bb. com. br For further information access bb. com. br/ri 40