EFFICIENCY THAT MOVES THE MARKET.

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1 EFFICIENCY THAT MOVES THE MARKET.

2 HISTORY 1984 Cetip is established as a non-profit organization 1986 Cetip commences operations 1988 Agreement with ANDIMA to operate the SND 1994 Cetip starts OTC derivatives registration 2008 Demutualization process: creation of Cetip S.A Advent International becomes a company shareholder, with a 32% stake 2009 Listing in the Novo Mercado 2010 Acquisition of GRV Solutions 2011 ICE becomes a company shareholder, with a 12% stake

3 CETIP, A PUBLICLY-HELD COMPANY, INTEGRATES THE FINANCIAL MARKETS ENABLING ITS CLIENTS TO EFFECTIVELY AND INCREASINGLY CARRY OUT THEIR BUSINESS. To this end, the Company employs technology to deliver safe infrastructure services.

4 THE COMPANY IS LATIN AMERICA S LARGEST DEPOSITARY OF SECURITIES. BRAZIL S LARGEST PRIVATE SECTOR ASSETS CLEARINGHOUSE.

5 REGISTRATION AND CUSTODY OF FINANCIAL ASSETS AND SECURITIES ELECTRONIC DELIVERY OF INFORMATION FOR CONTRACTS REGISTRATION AND INCLUSION OF LIENS EFT PROCESSING DOC CLEARING

6 CETIP IN NUMBERS + 50 types of assets registered thousand transactions / day 7 million lien registrations per year R$ 200 billion in vehicular assets R$ 4 trillion in assets and derivatives under custody + R$ 33 billion in settlement / day

7 FINANCING UNIT SECURITIES UNIT PRODUCTS AND SERVICES REGISTRATION CENTRAL SECURITIES DEPOSITORY TRADING SETTLEMENT RISK MANAGEMENT MARKET DATA DEVELOPMENT AND SOLUTIONS Cetip NoMe Service platform for capital markets Cetip Voice Trade confirmation Cetip NoMe Service platform for capital markets Cetip Trader Trading platform Cetip Leilões Services and Infrastructure Cetip NET Trading platform Cetip DVP Settlement and delivery versus payment Cetip Colateral Risk mitigation service Cetip DRRC Function for reducing credit risk Cetip Swap com Reset Credit risk hedging function Cetip Market Report Information on Derivatives and Fixed Income Cetip Market Data Daily Fixed Income and Derivatives data Cetip Agente de Cálculo Mark-to-Market Service ICE Link Post-trade platform Outsourcing Cetip ensures security in interbank transactions SNG National Lien System Sircof Registration of credit contract information Cetip Plataforma Imobiliária Gestão de Garantias Solutions for real estate management Cetip InfoServices Information for credit Cetip Auto Relatórios Operating reports Cetip InfoAuto Vehicle information platform Cetip Sistema de Registro de Garantias sobre Veículos Automotores Electronic registration collateral Silag Total loss payment Cetip Confirmação e Monitoramento de Garantias Confirmation and monitoring on vehicle financing operations information

8 OTC MARKET IN BRAZIL Mandatory Registration OTC transactions must be registered in a centralised system approved by the Brazilian Securities Commission and the Central Bank of Brazil Mandatory identification of the beneficiary owner Real time settlement Centralised Transparent Calculation Agent Brazilian OTC Collateral Management The OTC clearinghouse are responsible for analysing and approving of the transactions submitted to registration and trading Regulatory authorities receive in a daily bases reports and files with all information about the open positions

9 R$ Million FIXED INCOME - CUSTODY 2,50 2,00 1,50 1,00 Credit Agriculture 0,50 Mortgages Debentures 0,00 Interbank Deposit Source: Cetip oct/05 oct/06 oct/07 oct/08 oct/09 oct/10 oct/11 oct/12 oct/13 Bank Funding

10 R$ Billion R$ Billion R$ Billion FIXED INCOME - CUSTODY , , , , , ,00 Debentures 211% Letra Financeira 1447% , ,00 oct/09 oct/10 oct/11 oct/12 oct/13 0 oct/09 oct/10 oct/11 oct/12 oct/13 Mortgages , ,00 561% , , ,00 Source: Cetip 0,00 oct/09 oct/10 oct/11 oct/12 oct/13

11 CETIP TRADER Improve prime broker functionality; Create market call customized to Brazil; Create buy side audit trail; Improve data history, bond reference & Analytics Display +180 institutions Investment funds, assets, brokers and distributors, foundations and insurance companies.

12 R$ Billion OTC DERIVATIVES Options SWAPS 1200 Commodities Forward Currency Options oct/07 oct/08 oct/09 oct/10 oct/11 oct/12 oct/13 Source: Cetip

13 COLLATERAL MANAGEMENT Exposure Calculation provided by Cetip or Counterparties Participant A (Cetip) OTC Derivatives Trade Daily MTM Participant B (Cetip) Exposure Notification Cetip Exposure Notification Exposure Notification Collateral Transfer instruction Clearstream Triparty Collateral Management Functions Automatic Allocation (AutoAsign) Assets Valuation Eligibility Check Unlimited Substitution Process Daily MTM Automatic Margin Calls Reports Cetip & SELIC Assets Immobilization of Domestic Assets Using Triparty Collateral Management

14 THANK YOU Marcelo Fleury DISCLAIMER. This material was issued by Cetip S.A. Mercados Organizados ( Cetip ). Cetip is an organized over-the-counter market authorized to operate by the Brazilian Securities and Exchange Commission (CVM) and regulated by both the CVM and the Brazilian Central Bank. Participants are exclusively responsible for the contracting of any the services herein and Cetip is in no way responsible for losses resulting from the direct, indirect or consequential use of this material. Likewise, Cetip is not responsible for providing any specific recommendations of a legal, tax, regulatory or other nature not included the scope of this material. Clients contract any the services herein at their exclusive discretion and risk, and Cetip is only responsible for communicating new products and services. The examples included herein symbolize hypothetical, simulated situations and are merely illustrative. Their behavior may or may not represent real market situations, and Cetip is in no way liable for these cases or for the results of real cases. Nothing herein restricts or excludes and applicable legal responsibility of clients, according to legislation and regulations. This material is the property of Cetip, and reproduction, in whole or in part, of this content, by any means, without express prior consent as per the Intellectual Property Law is expressly prohibited. As provided in CVM Instruction no. 461 of October 23, 2007 in Cetip's Regulations and other applicable regulations, due to the characteristics of the markets it serves, Cetip does not have a guaranty fund or other mechanisms do indemnify losses, and for this reason no fees or contributions are charged for this purpose.

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