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2 Disclaimer Warnings Investments in financial assets involve risks that investors should study by reading the mandatory documentation regarding each asset. Investment funds do not rely on guarantee from the fund administrator, the portfolio manager, any insurance mechanism or the Credit Guarantee Fund (FGC). Profitability obtained in the past does not represent a guarantee of future profitability. It is recommended that investors carefully read the investment fund prospect and regulation when investing their resources. 2
3 The Company Investment Philosophy and Risk Control Main Products and Track Record Main Executives 3
4 The Company About us Founded in 2006, NSG Capital is an asset manager specialized in providing customized financial solutions focused on the goals of our clients. Our operation seeks to identify, analyze and select investment opportunities in quality assets, structuring them in an appropriate manner to provide our clients with above-average returns. With over R$ 2 billion in assets under management, we are specialized in the Brazilian market, with a team of professionals of high academic/technical qualification. Seeking to improve its services, NSG Capital recently obtained the Certificate of Quality Management ISO 9001 for qualified custody, comptrollership and securities bookkeeping. 4
5 The Company Activities NSG Capital provides various services to its clients, including the management and administration of assets and investment services, as described below: Management of Private Equity Funds, Fund of Funds, Real Estate Funds, Receivable Funds, Hedge Funds and Exclusive Funds Fund Administration and Controller Qualified Custody Securities, Corporate Bond and Fund Quota Underwriting. Public and Private Distribution of Bonds, Securities and Fund Quota Optimization of the companies capital structure by structuring of Debt, Equity and Mezzanine transactions Public or Private Placement of Securities and Funds Financial Restructuring of Companies Broker Dealer Advisory for Clients Foreign Investors Representation (Resolution #2.689) All companies of the Group are audited by an independent and world-class auditing company. 5
6 The Company Our Pillars Mission: Offer financial solutions that provide success to our clients Vision: Be the best Brazilian company in overcoming the financial needs of our clients Values: Focus of the Client: We take the financial challenges of our clients and we are always available. Excellence: We strive for excellence in our products and services using processes and world-class technology. Agility: We are objective and agile. Obstinacy: We are willful in overcoming limits. Human Capital: Our professionals are differentiated, motivated, creative, highly committed and recognized by meritocracy. Ethics: Integrity and transparency are the foundation of our professional relationships. 6
7 The Company Evolution of Assets under Management (R$ Millions) Dec-13 R$ 2, R$ 1, R$ R$ R$ R$ 128 * Value as of 12/31/2013 7
8 The Company According to the latest ranking released by Anbima (October/2013), NSG Capital is ranked at #78 among managers in volume of assets under management, positioning itself among the largest 15% of the country. Regarding the Anbima ranking of administration, NSG Capital is ranked at #37 among administrators being among the 35% largest administrators in Brazil. Administration Ranking Management Ranking Position Administrator AUA (R$ Million) 27 PATRIA INVESTIMENTOS LTDA 4, BNB 4, OPPORTUNITY 4, DYNAMO ADMINISTRAÇÃO DE RECURSOS LTDA 3, SOLIDUS CCVM 3, CREDIT SUISSE 3, MODAL 3, BANCO FATOR 3, BANCO CLÁSSICO 3, CONSTELLATION INVESTIM E PARTICIP LTDA 3, NSG CAPITAL SERVICOS FINANCEIRO DTVM 2, UBS BRASIL ADM DE VALORES MOBILIARIOS 2, CONCÓRDIA 2, GRADUAL CCTVM S/A 2, BANESTES 1, BANCOOB 1, BANCO GERACAO FUTURO DE INVESTIMENTO 1, BRB - DTVM 1, CREDIT AGRICOLE BRASIL SA DTVM 1, DAYCOVAL 1, MANTIQ INVESTIMENTOS LTDA 1,227.0 Source: Ranking Anbima (Novembro 2013) Position Manager AUM (R$ Million) 68 CLARITAS 2, BBM INVESTIMENTOS 2, BRZ INVESTIMENTOS LTDA 2, MERCATTO 2, PERFIN ADMINISTRACAO DE RECURSOS LTDA 2, IPANEMA 2, TARPON INVESTIMENTOS 2, QUEST INVESTIMENTOS LTDA 2, SQUADRA INVESTIMENTOS 2, LORINVEST GESTAO DE RECURSOS LTDA 2, NSG CAPITAL ASSET MANAGEMENT SA 2, CREDIT AGRICOLE BRASIL SA DTVM 2, SCHRODER INVEST. MANAG. BRASIL DTVM 2, G5 ADVISORS 2, BC GESTAO RECURSOS LTDA 2, CAPITANIA 1, XP GESTAO DE RECURSOS 1, RIO BRAVO INVESTIMENTOS LTDA 1, MAUA INVESTIMENTOS LTDA 1, BANESTES 1, GOLDMAN SACHS DO BRASIL BANCO MULTIPLOS 1,744.3 Source: Ranking Anbima (Novembro 2013) 8
9 The Company Segments of Operation 38.08% 3.79% 2.40% 55.73% Type** AUM* AUM/Total FIM R$ 1,207,550, % Renda Fixa R$ 82,109, % FIP R$ 825,183, % FIQ R$ 52,100, % Total R$ 2,166,944, % Values as of 12/31/2013. FIM Renda Fixa FIP FIQ * Asset Under Management ** FIM Hedge Investment Funds Renda Fixa Fixed Income Investment Funds FIP Private Equity Investment Funds FIQ Fund of Funds 9
10 The Company Partnerships and associations NSG Capital is a member and partner of the following institutions: 10
11 The Company Investment Philosophy and Risk Control Main Products and Track Record Main Executives 11
12 Investment Philosophy and Risk Control Investment Philosophy NSG Capital s analysis methodology is based on a time-proven fundamentalist criteria. Our management team carries out an analysis of possible investments through processes known as top-down, in order to make a reading of the sector and with a bottom-up analysis that identifies the target asset. Top-down Analysis Macro Analysis Establishment of promising economic sectors through an analysis of the macro scenario and indicators Sector Analysis Sector analysis and pre-selection with the purpose of identifying the most attractive sub-sectors Defining the strategies Establishment of strategies adopted for the selection of assets and sub-sectors identified Asset selection Selection of assets with growth opportunity Investment Opportunity 12
13 Investment Philosophy and Risk Control Risk Control NSG Capital manages its risks through a systematic monitoring of processes, measurement of results, by implementing a policy/rule-based methodology and enforcing the corresponding controls. All processes of NSG Capital aim at reducing losses without compromising potential long-term gains. 13
14 The Company Investment Philosophy and Risk Control Main Products and Track Record Main Executives 14
15 Main Products 2008 FIP Nordeste Energia R$ 50 MM Fund targeted at the development of wind power projects. * Operation completed and already divested Triscorp R$ 148 MM Administration of a Fund focused on the development of forestry projects Nilo Crédito Privado R$ 64 MM Management of a Exclusive Credit Fund targeted at corporate private credit transactions Onix R$ 295 MM Administration of a Long-term Fixed Income Fund that intends to reach the variation of the IMA-B ANBIMA index FII RSB1 R$ 196 MM Administration of a Real Estate Fund focused on the energy sector FIM FP1 R$ 659 MM Management and Administration of a Long-term Multi-market Fund, aimed at exceeding the IPCA + 9% py benchmark FIP VA Varejo e Alimentação R$ 427 MM Management and Administration of a Fund focused on investments in the foodservice industry. Note: amounts in R$ refer to the Shareholders Equity of the Funds as of 12/31/13, excluding FIP Nordeste. 15
16 Study Case Track Record in Private Equity Largest manufacturer of welded steel pipes in the country, with a 27% market share in 2007, according to the Brazilian Association of the Metal Pipes and Accessories Industry (Associação Brasileira da Indústria de Tubos e Acessórios de Metal). Largest independent distributer in the country, according to the National Institute of Steel Distributors (Indústria Nacional dos Distribuidores de Aço) 2008 Ranking. EVOLUTION OF FINANCIAL INDICATORS CAGR (06-08) Production, ton, 255, , , % Gross Revenue 773, ,908 1,128, % Invest. in Fixed Assets 8,981 16,453 27, % ACKNOWLEDGEMENT BY THE MARKET Great Leaders Amanhã Magazine 500 Largest of the South 2007 Classification 2006 Classification Zamprogna is among the Best and Largest companies selected by Exame magazine in 2008 in the steelworks and ironworks industries, being the only service center among steel mills. Note: Financial information audited by Price Waterhouse Coopers. CERTIFICATIONS AUDITS AND CONSULTANCIES USED IN THE COMPANY RESTRUCTURING PROCESS ISO 9001 ISO ISSO/TS NBR 5580 OHSAS ISO
17 Study Case Acquired Company The acquisition of Zamprogna S.A. by NSG Capital was performed in a Leverage Buyout (LBO) format in May Largest manufacturer of welded steel pipes in Brazil with 27% of National Production and the largest independent service center. Sold to In March 2009, almost two years later, NSG Capital sold all the shares of the company for R$ 90.7 million, to Usiminas. Biggest steel mill in Brazil, controlled in part by Nippon Steel. The sale was the assumption of senior debt, payment of profit-sharing bond and shares. After the consolidation, the debt of the LBO was assumed by Usiminas. The operation returned approximately 1.9x the invested capital to the investors at the moment of sale (21 moths after the investment), resulting in an annual IRR of 47%. 17
18 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Track Record Track Record in Private Equity Fund (FIP VA) Accumulated Return 60% 50% 40% 30% 20% Accumulated Return Accumulated CDI IPCA (Accumulated Brazilian Inflation Index) + 6% y.y % 38.61% 28.52% 10% 0% Jan Feb Mar Apr May Jun Jul Ago Sep Oct Nov Dec Year Accum.* Fund 1.69% 1.58% 1.41% 1.46% 1.44% 1.12% 1.29% 0.91% 1.15% 0.32% 0.05% 0.06% 13.21% 48.63% % CDI 287% 328% 262% 243% 247% 189% 183% 131% 164% 40% 7% 8% 164% 170% Fund 1.41% 1.34% 1.29% 1.10% 1.50% 1.14% 1.01% 1.29% 1.20% 1.58% 1.40% 1.52% 16.99% 31.29% % CDI 160% 181% 160% 157% 205% 179% 149% 189% 224% 260% 257% 285% 202% 165% Fund % 1.10% 1.41% 1.24% 0.91% 1.07% 1.13% 1.16% 1.09% 2.10% 12.22% 12.22% % CDI % 131% 144% 130% 94% 99% 121% 132% 127% 232% 126% 126% * Evolution value of the quotas based on the mark-to-market made by the Fund Administrator. 18
19 Track Record Track Record in Credit Fund (Nilo) Accumulated Return 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Accumulated Return Accumulated CDI IPCA (Accumulated Brazilian Inflation Index) + 6% y.y % 34.80% 25.90% Jan Feb Mar Apr May Jun Jul Ago Sep Oct Nov Dec Year Accum.* Fund 0.87% -0.08% 1.21% 1.10% -0.28% -1.99% 1.32% -0.24% 0.72% 0.44% -0.08% 1.23% 4.26% 39.58% % CDI 149% -17% 224% 184% -48% -336% 187% -35% 103% 55% -11% 158% 53% 153% Fund 1.59% 1.68% 2.16% 2.85% 2.00% 0.40% 0.99% 1.68% 1.47% 2.42% 0.84% 1.59% 21.52% 33.88% % CDI 180% 227% 267% 407% 272% 62% 146% 245% 274% 399% 154% 297% 256% 205% Fund % 0.54% 0.79% 2.26% 1.26% 1.68% 1.64% 0.73% 10.17% 10.17% % CDI % 57% 82% 210% 134% 191% 191% 81% 136% 136% * Evolution value of the quotas based on the mark-to-market made by the Fund Administrator. 19
20 The Company Investment Philosophy and Risk Control Main Products and Track Record Main Executives 20
21 Main Executives Luiz Eduardo Franco de Abreu, MSc Founding partner and CEO of NSG Capital and member of the Council of Economic and Social Development of the Republic of Brazil. Mr. Abreu was the CFO of Banco do Brasil, CEO of BB Banco de Investimentos, Chairman and CEO of BRB Banco de Brasília and BRB DTVM. In the industrial sector, he was Chairman and CEO of Zamprogna, as well as member of the Board of Directors of many large corporations and financial institutions in Brazil. He holds a master s degree in Business Administration from Duke University. Aline Galant A professional in the processes and organization segment for 26 years, she has operated in the Electric Energy Sector for the last 12 years, at Power Distribution Companies RGE, CPFL and Grupo Eletrobrás, in the Organizational Management, Strategic Planning and Sector Regulation segments. At ANEEL, ABRADEE and Fundação COGE, she has taken part in projects to improve the operating efficiency of companies in the Sector. She has managed the Processes division at Zamprogna S.A and Caixa Econômica Estadual of Rio Grande do Sul. Mrs. Galant has a degree in Library Science and Information Sciences from UFRGS. 21
22 Main Executives Antonio Lima Portfolio manager of securities authorized by CVM. Twenty years of experience in Financial Market and the area of resource management, serving on the Caixa s Board of Investment of Employee Welfare Fund of the Banco do Brasil PREVI, in Operations Management, as Investment Analyst and strategist. Training in Forestry Engineering from Universidade Federal Rural do Rio de Janeiro - UFRRJ and several specialization courses in Financial Markets. Paulo Lima Graduated in Economics from the UCP, with various courses and specializations in finance, Treasury, Structured Finance and Strategic Planning area. In these past 21 years, acted as Financial Advisor and has fill the post of Manager / Director of Financial Companies in Metallurgy area, Steel, Plastic Resins, being responsible for the structuring and issuance of Operations derivative and fixed income, Fundraising financial, as well relationships with various public and private financial institutions. Currently, act as Commercial Director. 22
23 Main Executives Julia Costa, MSc Master Degree in Economics and Finance from IBMEC and graduated in Economics from IBMEC. Investment analyst (CNPI) certified by the Association of Investment Analysts and Professionals of the Capital Market (APIMEC). She bean her career in the New Business Division of Petrobras, being responsible for analyzing investment opportunities and development of strategic partnerships with companies in Brazil and abroad. She also worked as an investment analyst at Ágora Corretora, being responsible for covering the utilities sector in Brazil. Currently she is the Investment Manager of NSG Capital. Marília Müller, MSc Master of Science in Economic Policy from University College London, Master Degree in Economics and Finance from IBMEC and graduated in Economic from IBMEC. She began her career as a trainee in macroeconomic analysis at Brascan Gestão de Ativos own by the Brookfield Group, later she were hired as an analyst in the same area, being responsible for analyzing and forecasting data mainly for Brazil. Late 2010, she started working at NSG Capital as the head of the economic department, in 2011 she had a brief stop to pursue her MSc in London. Currently she is the head of the economic department. Gustavo Sousa Lawyer graduated at PUC-RJ with LL.M. in Corporate Law at IBMEC-RJ and specialization in contracts at FGV-Rio, properly enrolled in the Bar Association of Brazil - Sectional Council of Rio de Janeiro. Previously worked in the Legal and Compliance departments of Ágora Senior CTVM S.A., UBS Pactual S.A. and Paramis Estruturação S.A. Currently works as a lawyer in the area of structured operations at NSG Group. 23
24 Contact Information Rio de Janeiro Praia de Botafogo, 440/6 O floor Rio de Janeiro RJ ZIP: Phone: (+55 21) contact@nsgcapital.com.br 24
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