CORPORATE PRESENTATION T R A D I N G C O R P O R A T E F I N A N C E E Q U I T Y R E S E A R C H - A S S E T M A N A G E M E N T

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1 CORPORATE PRESENTATION T R A D I N G C O R P O R A T E F I N A N C E E Q U I T Y R E S E A R C H - A S S E T M A N A G E M E N T December 2012

2 This document has been prepared exclusively to be accompanied by an oral presentation and does not hold any publication and/or communication rights. This document is strictly confidential. The person receiving this document agrees that neither they nor their representatives, directors, agents or employees may copy, reproduce or distribute to third parties this document, either in whole or in part, without prior written consent of KALLPA Securities Sociedad Agente de Bolsa S.A.

3 KALLPA SECURITIES SAB June 2008 October 2008 TODAY KALLPA SECURITIES S.A.B is an investment boutique : o o o o Inception Beginning of operations Over 2,586 clients, 31 employees, Peruvian, US and Canadian trading platforms Equity and Fixed Income Sales &Trading Capital Markets Investment Banking Portfolio Management Board of Directors KALLPA SECURITIES S.A.B: o Alberto Arispe: MBA with 8 years experience in investment banking in New York. o Enrique Hernández: Former CEO, director and business manager of several SABs in Peru. o Ricardo Carrión: Outstanding professional, emphasis on capital markets and corporate finance. o Elizabeth Cueva: o Pablo Berckholtz: MBA with 16 years of operational experience in SABs in Peru. Lawyer, company director, partner in Echecopar s Law Firm, an expert in finance. 3

4 BUSINESS UNITS KALLPA Securities S.A.B has three business units: Sales & Trading Corporate Finance and Capital Markets Investment Analysis - Equity Research. Portfolio Management. Purchase / Sales of securities to institutional investors in Peru and abroad. Purchase / Sales of securities to retail investors in Peru and abroad. Placement of equities / bonds in primary markets. Repurchase of equities in the secondary market. Arranger of Capital Markets products (commercial papers, bonds and equity instruments). Consulting and advisory in Capital Markets (Listing in stock exchanges, stocks buyouts). Business Analysis and Enterprise Valuation. Advising on M&A. Financial Consulting. Focus on Investment Banking activities and Corporate Finance. 4

5 Premium Service Standard Service BUSINESS UNITS Also, KALLPA SAB has recently launched its Asset Management business. Web Page Personal Finance Institutional Portfolio Standard Advisory Asset Management Institutional Advisory Enterprise Analysis Portfolio Manager Letters Technical Analysis Model Portfolios Premium Advisory Discretionary Portfolios Global Portfolios Detailed monthly reports Training (loyalty) Wealth Management Advice on the portfolio managers election Review and evaluation of current portfolios Presence in Committee and Board of Directors Institutional Asset Mgmt Intra Day Technical Analysis Stock Carpet Analysis through Video Monthly Conference Calls Financial Planning: Applicative sheets Integral Financial Planning Investments Advisory in real and financial sectors Advice on the portfolio managers election Trust Management for private persons Family Office Discretionary investments Portfolio Structure Trust Management Detailed monthly reports for the Manager Training in investments Presence in Committee and Board of Directors 5

6 RANKING SABS PERU 2012 * Source: SMV VOLUME TRADED IN LSE (S/.) January 1 to December 31, 2012 Market Share (%) 1 CONTINENTAL BOLSA S.A.B. 10,500,938, CREDIBOLSA S.A.B. 5,399,357, INTELIGO 2,861,630, SCOTIA BOLSA S.A.B. 2,801,641, CELFIN CAPITAL S.A.B. 2,602,163, LARRAIN VIAL S.A.B. 1,910,192, S.A.B. SEMINARIO & CIA. 1,405,964, KALLPA SECURITIES S.A.B. 1,248,108, GRUPO CORIL S.A.B. 523,450, NCF SAB S.A. 397,051, COMPASS GROUP S.A.B. 360,845, S.A.B. CARTISA PERU 348,426, INVERSION Y DESAR. S.A.B. 290,710, GRUPO PRIVADO S.A.B. 262,725, ANDES SECURITIES S.A.B. 254,927, MGS & ASOC. S.A.B. 251,465, INVESTA S.A.B. 247,551, MAGOT & ASOC. S.A.B. 204,177, MBA LAZARD S.A.B. 164,194, PROVALOR S.A.B. 61,214, LATINOAMERICANA S.A.B. 37,272, BNB VALORES PERU SOLFIN S.A.B. 19,388, CITICORP PERU S.A.B. 11,504, TRADEK S.A. S.A.B. 9,636, CA PERU SAB 671, INTERCAPITAL S.A.B. 182, ,175,394,

7 KALLPA SAB Sustained Growth Monto Volume Negociado traded (S/.) - (S/.) Monto Volume Negociado traded 2010 (S/.) - (S/.) Volume traded 2011 (S/.) Volume traded 2012 (S/.) 1 CREDIBOLSA SAB 5,881,045,853 1 INTELIGO 5,334,644,761 2 CONTINENTAL BOLSA SAB 5,666,432,143 2 CONTINENTAL BOLSA SAB 4,983,156,357 3 CREDIBOLSA SAB 4,471,840,303 3 SAB SEMINARIO & CIA. 2,034,175,305 4 SCOTIA BOLSA SAB 2,826,675,081 4 SCOTIA BOLSA SAB 1,838,393,638 5 SAB SEMINARIO & CIA. 2,312,067,162 5 INVESTA SAB 631,634,470 6 CELFIN CAPITAL SAB 2,013,645,009 6 MGS & ASOC. SAB 610,428,250 7 CITICORP PERU SAB 1,366,329,626 7 MAGOT & ASOC. SAB 572,703,394 8 MGS & ASOC. SAB 1,042,057,908 8 INVERSION Y DESAR. SAB 494,560,519 9 INVESTA SAB 556,992,295 9 ANDES SECURITIES SAB 471,125, COMPASS GROUP SAB 483,977, CELFIN CAPITAL SAB 460,599, KALLPA SECURITIES SAB 452,072, SAB CARTISA PERU 331,674, ANDES SECURITIES SAB 399,516, COMPASS GROUP SAB 327,414, INVERSION Y DESAR. SAB 361,001, KALLPA SECURITIES SAB 303,109, GRUPO PRIVADO SAB 345,961, GRUPO CORIL SAB 279,326, MAGOT & ASOC. SAB 341,635, INTELIGO 244,750, PROVALOR SAB 306,721, PROVALOR SAB 102,428, SAB CARTISA PERU 296,596, LATINOAMERICANA SAB 101,592, GRUPO CORIL SAB 286,232, LATINOAMERICANA SAB 74,281, CITICORP PERU SAB 31,305, NCF SAB S.A. 24,141, GRUPO PRIVADO SAB 15,255, TRADEK S.A. SAB 11,557, INTERCAPITAL SAB 11,886, INTERCAPITAL SAB 4,899,631 20,409,840, BNB VALORES PERU SOLFIN SAB 3,857,487 28,299,861,240 * Source: SMV

8 KALLPA SAB - Total Volume Traded Million S/. 2, S/. 2,065 2, S/. 1,501 1, , S/. 117 S/. 736 S/. 850 Internacional BVL Trading Abroad represents, in average, 30% of Volume Traded * Value to

9 KALLPA SAB Assets in our Custody Millions (US$) $180 Assets in our custody (In millions US$) $ $160 $140 $120 $ $ $100 $80 Client s assets include equities, bonds and cash. $60 $40 $ $20 $ 4.04 $0 * * Value to

10 KALLPA SAB S GROWTH IN THE MARKET Volume traded in Lima Stock Exchange Kallpa SAB grew of the position 14 of 18 SABs in 2008 to the position 8 of 25 SABs in Volume Negotiated in the BVL at the conclusion of 2012 S/. 1,400 S/. 1,200 S/. 1,000 Million (S/.) S/. 1, S/. 1, % of our volume corresponds to institutional investors S/. 800 S/. 600 S/ % of our volume corresponds to retail investors S/. 400 S/. 200 S/ S/ S/. 0 ** Source: SMV

11 RETURN ON EQUITY (ROE) 2011 INVESTA S.A.B. INTELIGO S.A.B. CELFIN CAPITAL S.A.B SCOTIA BOLSA S.A.B. SEMINARIO Y CIA S.A.B. COMPASS GROUP S.A.B. INVERSION Y DESARROLLO CONTINENTAL BOLSA S.A.B GRUPO CORIL S.A.B. CREDIBOLSA S.A.B. KALLPA SECURITIES S.A.B. Source: SMV 11

12 ROE (%) KALLPA SAB RETURNS ( ) Historical ROEs Kallpa SABs ROE grew from -2.96% in 2008 to 45% in Return on Equity - Kallpa SAB

13 COMPETITIVE ADVANTAGES Kallpa Securities SAB's success in recent years is due to: - It is one of the few brokerage whose shareholders are managers of the company. - Independent brokerage house, untied to any business group. - One of the few brokerage houses with an equity research department and only brokerage with Equity Research of junior mining companies. - One of the few SABs with a division dedicated exclusively to capital market deals, specialized in valuation, and financial advisory. - Kallpa Securities is sponsor of 12 out of 16 junior mining companies listed in the Venture Exchange of the Lima Stock Exchange. 13

14 KALLPA SAB - Equity Research Coverage Kallpa s Equity Research Team covers 17 companies that trade in the Lima Stock Exchange. VOLCABC1 SCCO RIO RELAPAC1 ALICORC1 BVN AIH CVERDEC1 BAP MIRL CREDITC1 BROCALC1 MPLE PML 14

15 KALLPA SAB: Number 1 in mining industry juniors in Peru Leading SAB in primary placements in the Peruvian junior mining market. Leading SAB listing junior mining companies in the Lima Stock Exchange. Leading SAB sponsoring junior mining companies in the Lima Stock Exchange. Leading SAB in arbitrage operations in the Peruvian market. Leading SAB promoting the junior mining industry in Peru. 15 Teléfono: (511) Fax: (511)

16 KALLPA SAB Primary Offerings - Kallpa Securities is the leader in equity primary private placements among junior mining companies in Peru. - In Kallpa SAB placed US$ 90 mn among Peruvian investors. 16

17 KALLPA SAB Achievements Kallpa Securities SAB is sponsor /advisor of 12 mining companies and consultant of 4 companies that list in LSE. 17

18 ORGANIZATION CHART CEO Controller Compliance Officer Managing Director-Sales & Trading Managing Director-Capital Markets COO Trading Desk Equity Research Portfolio Management Operations Miraflores Sales Desk Accounting Chacarilla Sales Desk IT El Polo Sales Desk Administration Arequipa Sales Desk 18

19 TEAM Trading Sales Research and Investments Daniel Berger Enrique Hernández José Avendaño Alberto Arispe Eduardo Fernandini Victor Hugo Rossel Ricardo Carrión Javier Frisancho Hernando Pastor Marco Contreras Jorge Rodriguez Gerardo del Aguila Edder Castro Jesús Molina Contreras Humberto León Ana Maria Castro Jhonatan del Aguila Operations Advisory Client assistance Elizabeth Cueva Alan Noa Ramiro Misari Mariano Bazán Diego García Gissella Garate Sandra Aliaga 19

20 LONG TERM VIEW June 2008 TODAY Long Term Brokerage Firm Brokerage House Brokerage House Investment Banking Asset Management Asset Management Private Banking 20

21 WEB SITE Information about products and services are available at our website. People interested may find regular reports about market strategy and equity valuation reports. 21

22 KALLPA SECURITIES SAB Contact Information Enrique Hernández Managing Director Trading (511) (51) Ricardo Carrión Managing Director Corporate Finance rcarrion@kallpasab.com (511) (51) Elizabeth Cueva COO ecueva@kallpasab.com (511) (51) Av. La Encalada 1388 Oficina 802 Edificio Centro Empresarial Polo Hunt I 22

23 T R A D I N G C O R P O R A T E F I N A N C E E Q U I T Y R E S E A R C H - A S S E T M A N A G E M E N T The content of this documents is only informative and referential