Institutional Presentation Institutional Presentation

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Institutional Presentation

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Track Record

1981 Creation of BB’s insurance operations 1992 Creation of Brasilprev 1995 Brasilcap’s inception in partnership with SulAmérica, Icatu and Aliança da Bahia 1996 Creation of Brasilveículos in partnership with SulAmérica 1999 Partnership with Principal Financial Group in Private Pension Plans 2010 Established Joint Venture with Mapfre 2008-2011 Ownership restructuring of BB’s insurance, Pension Plans and Premium Bonds division 2012 Creation of BB Seguridade 1987 BB Corretora’s establishment 2013 IPO BB Seguridade Equity investment in IRB –Brasil RE Brasildental* Partnership with Odontoprev

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BB Seguridade Participações S.A. | Investor Relations 4 BB Corretora Brasilcap 100% Total BB Seguros BB Cor BB Mapfre SH1 Mapfre BB SH2 Brasilprev Free Float (Post IPO) 74.9% BB Seguridade Economic Stake (%) 49.9% 50.0% 100% Total 50.0% 49.0% 50.0% 74.9% 49.9% 50.0% 66.7% 49.9% 67.0% 100% 100% BB Seguridade Volting Stake (%) Board of Directors Representation (%) 66.25% 33.75%

Estrutura Acionária - Parcerias

IRB – Brasil Re Brasil dental 20.5% 20.5% 20.0% 74.9% 49.9% 50.0%

Awaiting approval by ANS (Agência Nacional de Saúde Suplementar) Position until 12/31/2013

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Estrutura Acionária - Parcerias

Internal Structure

CEO

Marcelo Augusto Dutra Labuto

Chief Financial Officer

Werner Romera Suffert

Chief Corporate

Governance Officer

Leonardo Giuberti Mattedi

Chief Business

Development Officer

Ângela Beatriz de Assis

Executive Board

Board of Directors

General Meeting

Fiscal Council

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BB Seguridade Participações S.A. | Investor Relations 6

FREE-FLOAT BREAKDOWN – DEC/13

Shareholders Structure

•

80% payout

•

Semi-annual dividends

DEC/13

Banco do Brasil 66.3% Free-float 33.8% Foreign 61.4% Institutional 32.6% Individuals 6.0%

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Corporate Governance

• Only common shares

• 100% tag along

• 80% payout

Stocks

• Six members

• The President of the Company

• One member appointed by the minority shareholders

• Two members appointed by Banco do Brasil from its Executive Board

• One member appointed by the Ministry of Planning, Budget and Management and

the other by the Ministry of Finance

Board of

directors

• Four members

• Elected among the active employees of Banco do Brasil

Board of

executive

officers

• Three members

• One is the independent member appointed by the minority shareholders

• The independent member has veto power

Related-party

committee

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Presidents, Vice Presidents and Directors

Corporate Governance – Affiliates

Board of Directors SH1 Life SH2 P&C Brasilprev Pension Plans Brasilcap Premium Bonds 16 members 8 appointments 8 appointments Companhia de Seguros Aliança do Brasil 6 appointments 6 appointments

Mapfre Vida S.A 6 appointments 6 appointments

Vida Seguradora S.A 6 appointments 6 appointments 16 members 8 appointments 8 appointments Aliança do Brasil Seguros S.A 6 appointments 6 appointments BB Mapfre Assistência 2 Appointments 2 appointments Brasilveículos 6 appointments 6 appointments 16 members 8 appointments 8 appointments 3 appointments 3 appointments 12 members 8 appointments 2 appointments 2 appointments 4 appointments Mapfre Affinity Seguradora S.A 6 appointments 6 appointments

Mapfre Seguros Gerais S.A 6 appointments 6 appointments Broker 3 members 3 appointments 10 members 2 appointments IRB-RE Resseguro

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Scope of the Related-party Committee



Captive access to Banco do Brasil’s network



20-year term



No termination clause



Signed on January 2013



Arm’s length

Brasilprev SH1 SH2 Brasilcap



Products sold through BB Corretora



Remuneration: fixed percentage of policies, varying

according to product type



Shareholder agreements: 23-year term for PFG, 20-year

term for Mapfre and without a defined term for Icatu /

Aliança da Bahia

Related-party

Any proposal for changes in the agreements must be examined by the Related-party

Committee and the independent member has a veto power

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Backed by Banco do Brasil

Expertise from Private Partners

 Solidity, tradition, security and reliability

 Safe harbor, especially for long term products

 Flight to quality and less susceptible to market conditions

 Brand awareness

 Fast decision making

 BB Seguridade operates in an arm’s length format

 Monitors the developments of any potential conflicts between BB and BB Seguridade

 Improves corporate governance

 Minimum voting stake of 50.1%

BB also plays an active role in its operational companies’ governance

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Bank Channel

BB Seguridade strategy focuses on

bancassurance

with own brokerage, getting advantage of the captive access

to Banco do Brasil distribution network.

Low complexity business model

Low capital need

No underwriting risk

Own Brokerage

Competitive Advantage

Distribution Channel

Non-banking Channel

140 Partnerships (Affinity)

20.844 External Brokers

61.4 Million of clients

5.450 Branches

63.141 ATMs

16.440 Banking Correspondents

32.046 Shared network

1º

Captive access to larger distribution network in

Latin America

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One of the Largest Insurance, Pension and Premium Bonds Companies in Latin America

̶

R$ 14 billion in premiums written, R$ 23 billion in pension contributions and R$ 6.3 bi in premium bonds in 2013

Largest Insurance Broker in Latin America

̶

Exclusive access to Banco do Brasil’s unique distribution network, with brokerage revenues of R$ 1.8 bi in 2013

Leading Presence in Premium Bonds, Pension Plans and Life and Rural Insurance

Insurance Operations, Pension Plans and Premium Bonds managed through private partnerships with global leaders

Fast Growing with High Profitability

̶

30% yoy premium and contribution growth with 38.4%

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ROAE in 2013

BB Seguridade at a Glance

2

nd

Largest P&C Insurance Company in Brazil

̶

Over 2.4 million insured vehicles and R$ 7.8 billion in premiums written in 2013

122 employees at the holding and broker level.

7,352 employees at the affiliates level

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BB SEGURIDADE MARKET SHARE

RURAL

LIFE

PENSION PLANS (PROVISION)

PREMIUM BONDS (PROVISION)

20.7% 22.6% 2012 2013 28.7% 34.4% 2012 2013

TOTAL REVENUES*

17.0% 24.3% 2012 2013

*Combined market share considering premiuns written (except health), collection of pension plans and premium bonds

2013: Market Share position until November 2013

14.5% 20.1% 2012 2013 55.4% 70.8% 2012 2013

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SH1 27.7% SH2 6.5% Brasilprev 20.9% Brasilcap 6.4% BB Corretora 37.7% Others 0.8% 9,865 10,168 11,465 _8,720 12,996 33,322 43,349 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 SH1 14.0% SH2 20.0% Brasilprev 54.4% Brasilcap 11.6% + 30% 472 455 550 548 707 1,754 2,260 36.9% 34.7% 39.1% 38.0% 49.7% _32.9% _35.9% 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013

Adjusted net income (R$ mm) ROAE

BB Seguridade Performance

TOTAL REVENUES (R$ MM)

REVENUES BREAKDOWN

PROFITABILITY

EARNINGS BREAKDOWN

QoQ: + 49% YoY: + 32% QoQ: + 29% YoY: + 50%

2012

2013

2012

2013

SH1 30.1% SH2 4.4% Brasilprev 19.6% Brasilcap 3.9% BB Corretora 40.4% IRB 1.3% Others 0.3% SH1 14.4% SH2 18.0% Brasilprev 53.2% Brasilcap 14.5% + 29%

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BB Seguridade Participações S.A. | Investor Relations 16 + 53% 1,321 _1,201 1,783 1,521 1,739 4,671 6,244 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 Life 47.4% Credit Life 29.7% Mortgage Life 1.7% Rural 17.6% _Other 3.7%

BREAKDOWN OF PREMIUMS WRITTEN

PREMIUMS WRITTEN (R$ MM)

364 146 610 272 523 1,015 1,551 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 Life 43.0% Credit Life 28.4% Mortgage Life 2.5% Rural 23.0% Other 3.1% 957 1,055 1,173 1,249 1,216 3,658 4,694 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 + 34% + 28%

BB Mapfre SH1

QoQ: + 14% YoY: + 32% QoQ: - 3% YoY: + 27% QoQ: + 92% YoY: + 44%

2012

2013

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26.5 24.8 _23.4 _23.5 _23.8 25.3 _23.9 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 - 1.4 p.p. 33.9 35.1 38.7 36.4 27.8 36.5 34.4 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 18.5 16.8 14.7 16.6 16.8 16.8 _16.2 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 78.9 _76.7 _76.8 _76.5 68.4 78.5 _74.4 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 - 0.6 p.p.

BB Mapfre SH1 – Adjusted Ratios

QoQ: - 8.1 p.p. YoY: - 10.5 p.p. QoQ: + 0.2 p.p. YoY: - 1.7 p.p. QoQ: - 8.6 p.p. YoY: - 6.1 p.p. QoQ: + 0.3 p.p. YoY: - 2.7 p.p.

COMMISSION RATIO (%)

- 2.1 p.p. - 4.1 p.p.

CLAIMS (%)

COMBINED RATIO (%)

G&A RATIO (%)

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BB Seguridade Participações S.A. | Investor Relations 18 75 58 57 95 97 309 307 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 - 0.4 %

BB Mapfre SH1

QoQ: + 3% YoY: + 29% QoQ: + 41% YoY: + 80% + 40%

PROFITABILITY

NET INVESTMENT INCOME (R$ MM)

1. Mark-to-market Pre-Fixed 8.2% Interbank Deposit 71.8% Linked to inflation 9.1% Others 10.9% Pre-Fixed 9.7% Interbank Deposit 56.7% Linked to inflation 10.4% Others 23.3%

ASSETS UNDER MANAGEMENT BREAKDOWN

1

173 178 197 221 311 647 907 23.5% 23.4% 27.7% 33.1% 48.2% 20.0% 29.6% 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013

Adjusted Net Income (R$ MM) ROAE

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1,641 1,722 1,806 1,938 1,965 6,308 7,431 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 Vehicles 56.4% Casualties 31.0% Other 12.6% 40.4 113.6 21.8 184.4 42.5 340.4 362.3 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 1,681 1,836 1,828 2,122 2,008 6,649 7,794 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013

Mapfre BB SH2

QoQ: - 5% YoY: + 19% QoQ: + 1% YoY: + 20% QoQ: - 77% YoY: + 5%

2012

2013

+ 17% + 6% + 18% Vehicles 55.3% Casualties 30.3% Other 14.4%

BREAKDOWN OF PREMIUMS WRITTEN

EARNED PREMIUM (R$ MM)

PREMIUMS WRITTEN (R$ MM)

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BB Seguridade Participações S.A. | Investor Relations 20 98.0 98.7 93.8 99.8 97.4 98.6 97.4 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 24.8 _24.3 21.0 22.8 24.0 25.2 _23.0 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 54.7 55.1 _54.1 57.4 51.9 54.7 54.6 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 18.5 19.3 18.7 19.6 21.5 18.7 19.8 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013

Mapfre BB SH2 – Adjusted Ratios

QoQ: - 2.4 p.p. YoY: - 0.6 p.p. QoQ: -5.5 p.p. YoY: - 2.8 p.p. QoQ: + 1.9 p.p. YoY: + 3.0 p.p. QoQ: + 1.2 p.p. YoY: - 0.8 p.p. - 0.1 p.p. - 2.2 p.p. + 1.1 p.p. - 1.2 p.p.

COMMISSION RATIO (%)

COMBINED RATIO (%)

G&A RATIO (%)

CLAIMS (%)

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48 25 80 39 56 228 199 8.0% _4.0% 13.2% _6.2% 8.5% 9.7% _7.5% 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013

Adjusted Net Income (R$ MM) ROAE 81 40 ₂₈ 65 83 338 216 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013

Mapfre BB SH2

QoQ: + 28% YoY: + 3% QoQ: + 42% YoY: + 15% - 36% - 13%

PROFITABILITY (R$ MM)

NET INVESTMENT INCOME (R$ MM)

1. Mark-to-market Pre-Fixed 11.0% Interbank Deposit 44.9% Linked to inflation 15.0% Others 29.1% Pre-Fixed 11.7% Interbank Deposit 49.7% Linked to inflation 5.2% Others 33.3%

DEC/12

DEC/13

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BB Seguridade Participações S.A. | Investor Relations 22 226 234 255 271 271 838 1,031 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 PGBL 13.3% VGBL 85.0% Tra di tional 1.7% 131 128 145 153 167 477 592 60.5% _53.8% 59.0% 58.4% 58.0% 47.1% 46.3% 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013

Adjusted Net Income (R$ MM) ROAE

PGBL 10.8% VGBL 87.4% Tra di tional 1.8% 5,762 6,038 5,895 3,694 7,414 18,131 23,041 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013

Pension Plans

QoQ: + 101% YoY: + 29% QoQ: 0% YoY: + 20% QoQ: + 9% YoY: + 27%

2012

2013

+ 27% + 23% + 24%

BREAKDOWN OF CONTRIBUTION

PROFITABILITY (R$ MM)

MANAGEMENT FEE (R$ MM)

PREMIUM CONTRIBUTION (R$ MM)

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Pre-Fixed 6% Interbank Deposit 3% Linked to inflation 91% PGBL 24.3% VGBL 66.0% Traditional 9.7% 67,347 71,937 75,237 77,616 83,543

Dec/12 Mar/13 Jun/13 Sep/13 Dec/13

PGBL 28.0% VGBL 61.0% Traditional 11.0%

Pension Plans

DEC/12

DEC/13

RESERVES BREAKDOWN

RESERVES (R$ MM)

TRADITIONAL PLANS PORTFOLIO

ASSETS UNDER MANAGEMENT BREAKDOWN

Pre-Fixed 3.6% Interbank Deposit 1.7% Linked to inflation 94.8% Government Bonds 74.7% Securities* 12.9% Debentures and commercial papers 9.0% Stocks 3.4% Government Bonds 75.1% Securities* 14.9% Debentures and commercial papers 7.7% Stocks_2.3%

DEC/12

DEC/13

DEC/12

DEC/13

QoQ: + 8% YoY: + 24%

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BB Seguridade Participações S.A. | Investor Relations 24 29.3 21.4 25.5 27.3 26.6 21.6 25.5 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 Unique Payment 50.4% Montlhy Payment 49.6% _Unique Payment 70.2% Montlhy Payment 29.8% 47 ₃₇ 76 58 74 139 245 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 1,101 1,093 1,958 1,383 1,834 3,871 6,270 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013

Premium Bonds

QoQ: + 33% YoY: + 67% QoQ: - 0.7 p.p. YoY: - 2.6 p.p. QoQ: + 28% YoY: + 57%

2012

2013

+ 62% + 77% + 3.9 p.p.

PREMIUM BONDS COLLECTION (R$ MM)

COLLECTION BREAKDOWN

LOTTERY RATIO (%)

RESULTS WITH DRAWS (R$ MM)

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49 25 28 27 52 168 132 168.0% 63.4% 63.9% 51.7% 104.0% 88.6% 57.1% 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013

Net Income (R$ MM) ROAE

29.4 42.9 46.1 43.9 46.5 _41.0 45.1 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013

Premium Bonds

QoQ: + 2.6 p.p. YoY: + 17.1 p.p. QoQ: + 94% YoY: + 6% + 4.1 p.p. - 21%

COMISSION RATIO (%)

PROFITABILITY

PORTFOLIO BREAKDOWN

TRADING PORTFOLIO BREAKDOWN

Government Bonds 69.4% Securities* 10.5% Debentures and commercial papers 13.3% Others 6.8%

Dec/12

Government Bonds 78% Securities* 5% Debentures and commercial papers 9% Others 8% Pre-Fixed 37.5% Interbank Deposit 38.2% Linked to inflation 23.1% Stock Funds 1.1% Pre-Fixed 43.7% Interbank Deposit 49.6% Linked to inflation 5.5% Stock Funds 1.3%

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BB Seguridade Participações S.A. | Investor Relations 26 362 388 447 425 506 1,359 1,766 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 179 194 232 218 270 661 913 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 49.6 49.9 51.8 51.2 53.2 _48.7 51.7 4Q12 1Q13 2Q13 3Q13 4Q13 2012 2013 + 30%

Brokerage

2012

2013

+ 3.0 p.p. + 38% QoQ: + 19% YoY: + 40% QoQ: + 24% YoY: + 50% QoQ: + 2.0 p.p. YoY: + 3.6 p.p. SH1 48.2% SH2 19.8% Brasilprev 16.8% Brasilcap 12.5% Other 2.7% SH1 50.3% SH2 17.3% Brasilprev 15.6% Brasilcap 16.3% Other 0.5%

REVENUES BREAKDOWN

NET MARGIN (%)

BROKERAGE REVENUES (R$ MM)

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BB Seguridade - Adjusted ROAE

37% - 41%

35.9%¹

Premiums written growth - BB Mapfre SH1

37% - 49%

33.7%

Premiums written growth - Mapfre BB SH2

15% - 20%

17.2%

Collection growth - Pension Plans

30% - 40%

27.1%

Collection growth - Premium Bonds

50% - 65%

62.0%

Guidance 2013

Ratio

2013 Estimates

2013 Performance

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Guidance 2014

Ratio

2014 Estimates

BB Seguridade - Adjusted ROAE

44% - 49%

Premiums written growth - BB Mapfre SH1

24% - 32%

Premiums written growth - Mapfre BB SH2

19% - 26%

Collection growth - Pension Plans

33% - 47%

Collection growth - Premium Bonds

10% - 15%

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Low penetration of health beneficiaries

High ROAE with no underwriting risk Health Insurance Focus solely on distribution Not part of Banco do Brasil’s current portfolio Health Insurance

Distribution Health Insurance

Opportunity to distribute partners’ products in the banking channel

Ex: Travel, micro-insurance and warranty

1st_{bank to receive}

SUSEP’s authorization to sell micro-insurance Potential to develop new

products Introduction of products

already tested by partners in other markets

New Products

Focus on maximizing impact and reach of product offerings

Attractive and high growth sector

High ROAE with low risk

Low penetration of dental plans

High Cash flow

Dental insurance

Brasil dental

Joint-venture with

Odontoprev, created for dental insurance operation 74,99% of Total Equity 20-year term Entry in an underpenetrated segment

Strategic partnership with an experienced player

Infrastructure focused (PAC, World Cup and Olympics are likely to increase demand) Reinsurance Acquisition of 20,5% of IRB’s common shares Joining the control group

Deliverables

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Our Products – SH1 Insurances



Definition

: term life insurance which provides coverage at a fixed rate of

payments for a limited period, without accumulation.



Coverage:

in case of death, permanent disability or severe disease during the

term, the benefit will be paid to the insured or his beneficiary.

Life



Definition

: insurance that protects farmers from weather hazards, falling in the

market prices of the crop. Can also protects his property and be used as a

guarantee for rural loans.



Coverage

: in the event of any claim the coverage is limited to the insured

amount hired.

Rural



Definition

: insurance related to mortgage prepayment.



Coverage

: in case of death or permanent disability the remaining balance of

debt will be paid. This product can also protects the insured from damage to the

property.

Housing

Credit Life



Definition

:

insurance that guarantee the payment of loans.



Coverage

: in case of death or permanent disability the client or his beneficiary

will have his insured loan paid.

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Our Products – SH2 Insurances



Definition

: A mandatory insurance related to vehicles accident in Brazil.



Coverage

: Covers personal injury caused by vehicles to passengers, drivers or

pedestrians.

DPVAT



Definition

: insurance to protect vehicles from damage sustained and caused in

accidents or other situations.



Coverage

: accidental damage or theft of the vehicle, compensation for damage

or injury caused to third parties and passengers of the vehicle, and assistance in

the event of an accident or crash.

Auto



Definition

: insurance that protects the property of individuals and companies.



Coverage

: the main coverage are for damages to the home of individuals, the

assets of companies such as machinery and other properties, and third party

liability.

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Our Products - BrasilPrev



Defined remuneration



Guarantee fixed interest rates relative to inflation.

** No longer sold

Traditional

Plan



For people who declare income taxes (IR) in the complete form because

the contributions are deductible.

PGBL



For people who declare income taxes in the simplified format or is exempt.



Focus on sucession



Much lower inheritance costs (does not have either legal or tax costs)



Less time consuming (beneficiary receives it in less than 30 days)

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Our Products - BrasilCap

Unique

Payment

Monthly

Payment



It is a saving bond which has the aim of be an alternative form to accumulate

reserves, with maturity and interest rates previously determined.



The bond holder also has the chance to apply for an award by lottery.

Chances of Contemplation

Ourocap From 1 in 10,000 to 1 in 1,000,000

Official Lottery 1 in 50,063,860