BANCO PINE S.A. 2013-05-07 T-09:50

(Convenience translation into english from the original previously issued in portuguese)

Individual and Consolidate Financial Statements under BR GAAP for the
Quarters Ended on March 31, 2013 and December 31, 2012

Banco Pine S.A.

PricewaterhouseCoopers Auditores Independentes

(A free translation of the original in Portuguese)

Report on Review of Quarterly Information

To the Board of Directors and Shareholders
Banco Pine S.A.

Introduction

We have reviewed the accompanying parent company and consolidated interim financial information
of Banco Pine S.A. and Banco Pine S.A. and its subsidiaries, included in the Quarterly Information
Form (ITR) for the quarter ended March 31, 2013, comprising the balance sheet at that date and the
statements of operations, comprehensive income, changes in equity and cash flows for the quarter
then ended, and a summary of significant accounting policies and other explanatory information.

Management is responsible for the preparation of the interim financial information in accordance with
accounting practices adopted in Brazil, applicable to institutions authorized to operate by the Brazilian
Central Bank (BACEN), and with the standards issued by the Brazilian Securities Commission (CVM),
applicable to the preparation of the Quarterly Information (TR). Our responsibility is to express a
conclusion on this interim financial information based on our review.

Scope of the review

We conducted our reviewin accordance with Brazilian and International Standards on Reviews of
Interim Financial Information (NBC TR 2410 – Review of Interim Financial Information Performed
by the Independent Auditor of the Entity and ISRE 2410 – Review of Interim Financial Information
Performed by the Independent Auditor of the Entity, respectively). A review of interim information
consists of making inquiries, primarily of persons responsible for the entity’s financial and accounting
matters, and applying analytical and other review procedures. A reviewis substantially less in scope
than an audit conducted in accordance with Brazilian and International Standards on Auditing and
consequently does not enable us to obtain assurance that we would become aware of all significant
matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion on the interim information

Based on our review, nothing has come to our attention that causes us to believe that the
accompanying interim accounting information included in the quarterly information referred to above
has not been prepared, in all material respects, in accordance with accounting practices adopted in
Brazil, applicable to the preparation Quarterly Information by institutions authorized to operate by the
Brazilian Central Bank (BACEN) and presented in accordance with the standards issued by the
Brazilian Securities Commission (CVM).

Banco Pine S.A.
Other matters
Interim statements of value added

We have also reviewed the parent company and consolidated interim statements of value added for the
quarter ended March 31, 2013. These statements are the responsibility of management, and are
required to be presented in accordance with standards issued by the CVM applicable to the
preparation of the ITR. These statements have been submitted to the same review procedures
described above and, based on our review, nothing has come to our attention that causes us to believe
that they have not been prepared, in all material respects, in a manner consistent with the interim
accounting information taken as a whole.

Sáo Paulo, May 6, 2013

PricewaterhouseCoopers
Auditores Independentes
CRC 2SP000160/0-5

Edison Arisa Pereira
Contador CRC 18P127241/0-0

BB PINE
Comments on 1Q13 Performance

PINE is a wholesale bank focused on establishing and maintaining long-term relationships with large corporate clients and investors. Its strategy
is based on knowing its clients well and understanding their business and potential in order to build customized financial solutions and
alternatives. This strategy requires product diversity, highly qualified human capital and efficient and agile risk management, which are areas
where the Bank is consistently evolving.

Performance
PINE reached R$1.3 billion in Shareholders’ Equity, 22.4% higher when compared to March 2012, influenced by the capital increase made by
PINE’s controlling shareholder, management, DEG, Proparco and minority shareholders, concluded in April, 2013. Annualized Return on Average
Equity (ROAE) reached 15.5%in the quarter.

RS Millions

Loan Portfolio! ROAE Shareholders’ Equity

22.4%

13.2% -400 bps -S
y –

7,426 8,405 19.5% 15.5% 1,029 1,260

HI KAKI
Mar-12 Mar-13 1012 1013 Mar-12 Mar-13

Y Includes Letters of Credit to be used, Bank Guarantees, Credit Securities to be Received and Private Securities (bonds, DRIs, eurobonds and fund shares)

xxCredit

Total loan credit, which includes Letters of Credit, Bank Guarantees, Credit Receivables and Private Securities, reached R$8,405 million on
March 31, 2013, increasing 5.7%0Q0Q and 13.2%YoY. The Working Capital portfolio, combined with the portfolio of Private Securities and Credit
Receivable, which have similar characteristics, grew by 12.4% YoY. The average maturity of the credit portfolio reached 15 months in March
2013.

xxFunding

Total funding was R$6,589 million in March 2013, a 2.3% growth YoY. The balance of time deposits, including Agribusiness Credit Notes (LCA)
and Real Estate Credit Notes (LCI), reached R$3,285 million, a 7.9% change when compared to December 2012. The weighted average term of
deposits was 12 months, while the weighted average term of funding transactions stood at 17 months.

+Capital Structure (BIS)

In March 2013, the Central Bank published a substantial part of the rules relating to the definition of capital and requirements of regulatory
capital, with the object to implement the recommendations of the Brazil Committee on Banking Supervision (Basel Il). With consideration of
these rules, the BIS ratio reached 17.1%in the quarter, well above the regulatory minimum (11%.

eDistribution of Profits / Interest on Own Capital and Dividends

On April, 2013, PINE paid a total of R$30.0 million as dividends and interest on own capital, which corresponds to a gross payout per share of
R$0.28. Of this total, R$15.0 million represents interest on own capital and R$15.0 million, dividends. Since 2008, PINE has distributed
Dividends/ Interest on own capital every quarter.

eInvestor Relations
PINE makes information available to shareholders via its corporate website (www.pine.com/ir), electronic bulletins and quarterly reports, as
well as through its Investor Relations department (phone: +55 (11) 3372-5343, e-mail: irepine.com).

eIndependent Auditors

PINE adopts the procedure of limiting the services rendered by ¡ts independent auditors, so as to ensure the auditor’s independence and
objectivity pursuant to Brazilian and international standards. In the quarter ended March 31′”, 2013, PricewaterhouseCoopers Auditores
Independentes have audited PINE’s Financial Statements and was not hired for other professional services than auditing our Financial
Statements.

xxAcknowledgments
PINE thanks its shareholders, clients, suppliers and employees.

Sáo Paulo, May 6’”, 2013

Board of Directors
Executive Directors

(A free translation of the original in Portuguese)

PINE

BANCO PINE S.A. AND SUBSIDIARIES
BALANCE SHEETS AT MARCH 31, 2013 AND DECEMBER 31, 2012
(In thousands of reais)

Consolidated

EE Na 3/31/2013 12/31/2012
CURRENT ASSETS 7.494.692 7.966.113 7.514.472 7.996.043
Cash 4. 211.602 126.111 211.611 126.111
Short-term interbank investments 5. 610.265 397.584 611.385 404.587
Open market investments 447.859 279.205 448.979 286.208
Interbank deposits 93.957 100.299 93.957 100.299
Foreign currency investments 68.449 18.080 68.449 18.080
Marketable securities and derivative financial instruments 3.180.770 3.914.354 3.196.237 3.934.238
Own portfolio 6.a) 1.192.015 1.815.047 1.207.482 1.834.931
Subject to repurchase agreements 6. a) 1.725.781 1.847.955 1.725.781 1.847.955
Derivative financial instruments 6. b) 122.761 180.232 122.761 180.232
Restricted deposits – Brazilian Central Bank 6. a) 31.986 – 31.986 –
Subject to guarantees 6.a) 108.227 71.120 108.227 71.120
Interbank accounts 815 1.435 815 1.435
Payments and receipts 56 – 56 –
Restricted deposits:
Brazilian Central Bank 744 1.435 744 1.435
Correspondent banks 15 – 15 –
Loan operations 7. 2.469.308 2.549.888 2.469.309 2.549.888
Loan operations – private sector 2.596.990 2.664.448 2.596.991 2.664.448
Loan operations – public sector – 5.966 – 5.966
Allowance for loan losses (127.682) (120.526) (127.682) (120.526)
Other receivables 837.762 796.143 840.945 799.186
Foreign exchange portfolio 8. 555.467 522.796 555.467 522.796
Income receivable 21.807 18.867 21.807 18.867
Negotiation and intermediation of securities 48.132 41.898 48.132 41.898
Sundry 9. 216.118 216.719 219.301 219.762
Allowance for other loan losses (3.762) (4.137) (3.762) (4.137)
Other assets 184.170 180.598 184.170 180.598
Non-operating assets 180.213 176.279 180.213 176.279
Prepaid expenses 3.957 4.319 3.957 4.319
LONG-TERM RECEIVABLES 2.580.589 2.285.451 2.660.044 2.378.588
Marketable securities and derivative financial instruments 452.490 386.334 407.623 326.603
Own portfolio 6.a) 281.447 229.233 236.580 169.502
Derivative financial instruments 6. b) 171.043 157.101 171.043 157.101
Loan operations 7. 1.638.298 1.459.023 1.759.028 1.609.039
Loan operations – private sector 1.699.958 1.520.512 1.822.128 1.672.130
Loan operations – public sector – 338 – 338
Allowance for loan losses (61.660) (61.827) (63.100) (63.429)
Other receivables 479.207 429.515 482.799 432.367
Income receivable 27.360 27.435 27.360 27.435
Deposits in guarantee 16. (b) (c) 200.168 197.491 201.901 199.189
Sundry 9. 251.862 204.751 253.721 205.905
Allowance for other loan losses (183) (162) (183) (162)
Other assets 10.594 10.579 10.594 10.579
Prepaid expenses 10.594 10.579 10.594 10.579
PERMANENT ASSETS 196.534 188.882 29.670 31.021
Investments 166.866 157.863 – –
Investments in local subsidiaries 10. 166.866 157.863 – –
Property and equipment in use 11.a) 27.836 28.966 27.839 28.968
Facilities, furniture and equipment in use 13.684 13.652 13.684 13.652
Other fixed assets in use 28.659 28.645 28.662 28.647
Accumulated depreciation (14.507) (13.331) (14.507) (13.331)
Intangible assets 11.b) 1.832 2.053 1.831 2.053
Expenses for acquisition and development of software 9.448 9.450 9.512 9.915
Accumulated amortization (7.616) (7.397) (7.681) (7.862)
TOTAL ASSETS 10.271.815 10.440.446 10.204.186 10.405.652

Página 1

(A free translation of the original in Portuguese)

PINE

BANCO PINE S.A. AND SUBSIDIARIES
BALANCE SHEETS AT MARCH 31, 2013 AND DECEMBER 31, 2012
(In thousands of reais)

Consolidated

NENA Na 3/31/2013 12/31/2012
CURRENT LIABILITIES 5.580.068 5.724.010 5.578.609 5.708.159
Deposits 12. 1.849.287 1.898.520 1.844.243 1.878.417
Demand deposits 126.446 30.134 126.363 30.053
Interbank deposits 104.949 108.932 104.949 108.932
Time deposits 1.617.892 1.759.454 1.612.931 1.739.432
Funds obtained in the open market 13. 1.954.411 1.832.661 1.954.411 1.832.661
Own portfolio 1.954.411 1.832.661 1.954.411 1.832.661
Funds from acceptance and issuance of securities 18. 363.746 499.593 363.746 499.593
Real estate letters of credit 8.699 11.965 8.699 11.965
Agribusiness letters of credit 309.412 377.368 309.412 377.368
Financial bills 1.122 1.101 1.122 1.101
Securities issued abroad 44.513 109.159 44.513 109.159
Interbank accounts 14. 163 37 163 37
Correspondent banks 163 37 163 37
Interdepartmental accounts 6.310 22.425 6.310 22.425
Third-party funds in transit 6.310 22.425 6.310 22.425
Borrowings and onlendings 17. 1.130.204 1.225.474 1.130.204 1.225.474
Foreign borrowings 836.764 892.862 836.764 892.862
Local onlendings – official institutions 283.275 322.376 283.275 322.376
Foreign onlendings 10.165 10.236 10.165 10.236
Derivative financial instruments 6.b) 91.255 77.060 91.255 77.060
Derivative financial instruments 91.255 77.060 91.255 77.060
Other liabilities 184.692 168.240 188.277 172.492
Collection and payment of taxes and similar 15. a) 1.325 936 1.325 936
Foreign exchange portfolio 8. 73.822 75.133 73.822 75.133
Social and statutory payables 8.569 9.018 8.569 9.018
Tax and social security contributions 15. b) 66.159 30.075 69.220 33.983
Negotiation and intermediation of securities 6.921 4.575 6.921 4.575
Subordinated debt 19. 5.802 12.342 5.802 12.342
Sundry 15. c) 22.094 36.161 22.618 36.505
Other 22.094 36.161 22.618 36.505
LONG-TERM LIABILITIES 3.372.898 3.440.419 3.306.728 3.421.476
Deposits 12. 1.513.737 1.577.218 1.354.579 1.440.579
Interbank deposits 10.240 21.221 4.837 12.068
Time deposits 1.503.497 1.555.997 1.349.742 1.428.511
Funds from acceptance and issuance of securities 18. 799.015 792.470 799.015 792.470
Agribusiness letters of credit 3.995 7.830 3.995 7.830
Financial bills 590.621 573.164 590.621 573.164
Securities issued abroad 204.399 211.476 204.399 211.476
Borrowings and onlendings 17. 636.025 631.237 728.396 749.972
Local borrowings – other institutions – – 92.371 118.735
Foreign borrowings 60.414 61.305 60.414 61.305
Local onlendings – official institutions 575.611 569.932 575.611 569.932
Derivative financial instruments 6.b) 18.450 23.333 18.450 23.333
Derivative financial instruments 18.450 23.333 18.450 23.333
Other liabilities 405.671 416.161 406.288 415.122
Tax and social security contributions 15. b) 76.251 77.290 76.837 77.853
Subordinated debt 19. 302.187 304.930 302.187 304.930
Sundry 15. c) 27.233 33.941 27.264 32.339
Provision for contingent liabilities 16. c) 17.976 22.963 18.007 22.963
Other 9.257 10.978 9.257 9.376
DEFERRED INCOME 58.380 56.071 58.380 56.071
EQUITY 20. 1.260.469 1.219.946 1.260.469 1.219.946
Capital 967.259 935.683 967.259 935.683
Local residents 873.381 842.654 873.381 842.654
Foreign residents 93.878 93.029 93.878 93.029
Capital reserves 9.220 11.685 9.220 11.685
Revenue reserves 282.747 267.192 282.747 267.192
Proposed additional dividend 19.185 18.559 19.185 18.559
Carrying value adjustments (7.949) (423) (7.949) (423)
Treasury shares (9.993) (12.750) (9.993) (12.750)
TOTAL LIABILITIES AND EQUITY 10.271.815 10.440.446 10.204.186 10.405.652

The accompanying notes are an integral part of these financial statements.

Página 2

(A free translation of the original in Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES

STATEMENTS OF OPERATIONS FOR THE PERIODS ENDED MARCH 31, 2013 AND 2012
(In thousands of reais, except net income per share)

PINE

[EE

3/31/2012

INCOME FROM FINANCIAL INTERMEDIATION 227.159 273.564 232.789 281.105
Loan operations 21La) 106.206 127.513 110.521 138.631
Marketable securities 21.b) 56.454 140.088 57.769 136.511
Derivative financial instruments 6.b) 62.224 (5.656) 62.224 (5.656)
Foreign exchange transactions 2.275 11.619 2.275 11.619
EXPENSES FOR FINANCIAL INTERMEDIATION (141.566) (166.226) (144.111) (170.017)
Funds obtained in the market 21.c) (120.155) (153.626) (119.028) (150.496)
Borrowings and onlendings 21.d) (9.884) (1.938) (12.116) (8.859)
Allowance for loan losses (11.527) (10.662) (12.967) (10.662)
GROSS PROFIT FROM FINANCIAL INTERMEDIATION 85.593 107.338 88.678 111.088
OPERATING INCOME (EXPENSE) (83.728) (49.899) (33.880) (50.092)
Income from services rendered 21.e) 17.966 13.747 29.439 30.305
Income from bank charges 604 992 604 992
Personnel expenses 211) (21.514) (21.006) (22.388) (21.867)
Other administrative expenses 21.9) (23.250) (19.347) (23.625) (19.835)
Taxes 21.h) (2.444) (2.568) (3.499) (4.107)
Equity in the results of investees 10. 8.498 11.029 – –
Other operating income 21.) 10.620 25.392 9.930 22.660
Other operating expenses 21.) (24.208) (58.138) (24.341) (58.240)
OPERATING PROFIT 51.865 57.439 54.798 60.996
NON-OPERATING RESULTS 2.292 3.316 2.292 3.308
INCOME BEFORE INCOME TAXES AND

PROFIT SHARING 54.157 60.755 57.090 64.304
INCOME TAX AND SOCIAL CONTRIBUTION 22. (16.775) (15.889) (18.983) (18.692)
Provision for current income tax (833) (3.097) (2.346) (4.982)
Provision for current social contribution (520) (1.905) (1.148) (2.840)
Deferred income tax and social contribution (15.422) (10.887) (15.489) (10.870)
PROFIT SHARING (6.804) (13.201) (7.529) (13.947)
Reversal of interest on capital 14.977 14.895 14.977 14.895
NET INCOME 45.555 46.560 45.555 46.560
NUMBER OF OUTSTANDING SHARES 110.035.317 98.852.774 110.035.317 98.852.774
NET INCOME PER SHARE – IN REAIS 0,41400 0,47100 0,41400 0,47100

The accompanying notes are an integral part of these financial statements.

Página 3

AR PINE
BANCO PINE S.A. AND SUBSIDIARIES

STATEMENTS OF COMPREHENSIVE OPERATIONS FOR THE PERIODS ENDED MARCH 31, 2013 AND 2012
(In thousands of reais)

1/2013 3/31/2012

NET INCOME 45.555 46.560
Financial assets available for sale (12.535) 2.869
Cash flow hedge – 6.186
Income Tax 5.008 (3.622)
Comprehensive Net Income 38.029 51.993

The accompanying notes are an integral part of these financial staten The accompanying notes are an integral part of these finan

Página 4

(A free translation of the original in Portuguese)

PINE

BANCO PINE S.A. AND SUBSIDIARIES
STATEMENTS OF VALUE ADDED FOR THE PERIODS ENDED MARCH 31, 2013 AND
(In thousands of reais)

Consolidated

3/31/2012
Revenues 237.883 263.106 252.723 284.363
Financial intermediation 227.159 273.564 232.789 281.105
Services rendered 17.966 13.747 29.439 30.305
Bank charges 604 992 604 992
Provision for loan losses (11.527) (10.662) (12.967) (10.662)
Other 3.681 (14.535) 2.858 (17.377)
Expenses for financial intermediation 130.039 155.564 131.144 159.355
Goods and services acquired from third parties 19.382 15.688 19.727 16.098
Materials, electricity and other 182 144 183 146
Third-party services 14.525 11.857 14.765 12.211
Other 4.675 3.687 4.779 3.741
Gross value added 88.462 91.854 101.852 108.910
Depreciation and amortization 1.525 976 1.525 1.003
Net value added produced by the institution 86.937 90.878 100.327 107.907
Value added transferred from others 8.498 12.623 – .
Equity in the results of investees 8.498 11.029 – –
Total value added to be distributed 95.435 101.907 100.327 107.907
Distribution of value added 95.435 101.907 100.327 107.907
Personnel 28.318 34.207 29.917 35.814
Salaries 14.392 13.925 14.979 14.536
Benefits, training 2.189 2.039 2.274 2.081
Social charges 4.933 5.042 5.135 5.250
Profit sharing 6.804 13.201 7.529 13.947
Taxes, charges and contributions 19.219 18.457 22.482 22.799
Federal 1.464 1.757 1.943 2.461
State 4 1 4 1
Municipal 976 810 1.552 1.645
Income tax and social contribution 16.775 15.889 18.983 18.692
Remuneration of third-party capital 2.343 2.683 2.373 2.734
Rents and leased assets 2.343 2.683 2.373 2.734
Remuneration of own capital 45.555 46.560 45.555 46.560
Interest on own capital/dividends 30.000 15.000 30.000 15.000
Retained earnings 15.555 31.560 15.555 31.560

The accompanying notes are an integral part of these financial statements.

Página 5

(A free translation of the original in Portuguese)

BANCO PINE S.A.

‘STATEMENTS OF CHANGES IN EQUITY FOR THE PERIODS ENDED MARCH 31,2013 AND 2012
(In thousands of reais, except dividends and interest on own capital per share)

PINE

AT a
ETA] OPTA] COSA Other NI TS IS A]
capital increase INTE Reserves Legal Statutory adjustments ENEE additional dividend _ earnings
At December 31, 2011 422.606 373.439 713 13.319 15.582 164.157 (1.461) – 26.726 – 1.015.081
Capital increase (note 20.a) 373.442 (373.439) – – – – – – – – 3
Carrying value adjustments – – – – – – 5.433 – – – 5.433
Net income – – – – – – – 46.560 46.560
Appropriations (Note 20): –
Legal reserve – – – – 2.328 – – – – (2.328) –
Statutory reserve – – – – – 29.232 – – – (29.232) –
Approval/payment of proposed additional dividend – – – – – – – – (22.779) – (22.779)
Dividends (R$0.0011 per share) – – – – – – – – – (105) (105)
Interest on own capital (R$0.1507 per share) – – – – – – – – – (14.895) (14.895)
At March 31, 2012 796.048 – 713 13.319 17.910 193.389 3.972 – 3.947 – 1.029.298
At December 31, 2012 935.683 – 14.032 (2.347) 24.954 242.238 (423) (12.750) 18.559 – 1.219.946
Capital increase (Note 20) – 31.576 – – – – – – – – 31.576
Other reserves – – – (2.465) – – – – – – (2.465)
Sales of Treasury – – – – – – – 2.757 – – 2.757
Carrying value adjustments – – – – – – (7.526) – – – (7.526)
Net income – – – – – – – – – 45.555 45.555
Appropriations (Note 20):
Legal reserve – – – – 2.278 – – – – (2.278) –
Statutory reserve – – – – – 13.277 – – – (13.277) –
Approval/payment of proposed additional dividend – – – – – – – – 626 – 626
Dividends (R$0.1396 per share) – – – – – – – – – (15.023) (15.023)
Interest on own capital (R$0.1391 per share) – – (14.977) (14.977)

At March 31, 2013 935.683 31.576 14.032 (4.812) 27.232 255.515 (7.949) (9.993) 19.185 – 1.260.469

The accompanying notes are an integral part of these financial statements.

Página 6

(A free translation of the original in Portuguese)

PINE

BANCO PINE S.A. AND SUBSIDIARIES
STATEMENTS OF CASH FLOWS (DIRECT METHOD) FOR THE THREE PERIODS ENDED MARCH 31, 2013 AND 2012
(In thousands of reais)

Consolidated

3/31/2012
OPERATING ACTIVITIES
Adjusted net income 60.830 59.910 70.865 70.951
Net income for the period 45.555 46.560 45.555 46.560
Allowance for loan losses 11.527 10.662 12.967 10.662
Deferred taxes 15.422 10.887 15.489 10.870
Depreciation and amortization 1.525 976 1.525 1.003
Provision for contingencies (4.725) 1.330 (4.695) 1.330
Equity in the results of investee (8.498) (11.029) – –
Loss on sale of property and equipment 24 524 24 526
Changes in assets and liabilities 240.274 (127.328) 223.861 (146.139)
(Increase) decrease in short-term interbank investments 6.342 183.671 6.342 183.670
(Increase) decrease in marketable securities 616.372 816.734 605.925 785.360
(Increase) decrease in loan operations (110.195) (138.405) (82.349) (121.661)
(Increase) decrease in other receivables (106.759) (232.739) (107.707) (239.921)
(Increase) decrease in other assets (3.587) 14.739 (3.587) 14.739
(Increase) decrease in interbank and interdepartmental accounts (15.369) 28.264 (15.369) 28.264
(Increase) decrease in derivative financial instruments 52.841 20.963 52.841 20.963
Increase (decrease) in deposits (112.714) (77.601) (120.174) (82.070)
Increase (decrease) in purchase and sale commitments 121.750 (788.036) 121.750 (788.036)
Increase (decrease) in funds from acceptance and issuance of securities (129.302) 3.679 (129.302) 3.679
Increase (decrease) in borrowings and onlendings (90.482) (38.405) (116.846) (31.484)
Increase (decrease) in other liabilities 9.068 76.069 10.028 73.960
Increase (decrease) in deferred income 2.309 3.739 2.309 6.398
Net cash provided by (used in) operating activities 301.104 (67.418) 294.726 (75.188)
INVESTING ACTIVITIES
Sales of fixed assets 224 116 223 190
Acquisition of property and equipment in use (423) (521) (423) (521)
Acquisition of intangible assets 2 (508) 2 (512)
Capital increase in subsidiaries (505) – – –
Net cash used in investing activities (702) (913) (198) (843)
FINANCING ACTIVITIES
Capital increase 31.576 3 31.576 3
Other reserves (2.463) – (2.463) –
Acquisition(sale) of treasury shares 2.757 – 2.757 –
Interest on own capital and dividends paid (27.757) (38.121) (27.757) (38.121)
Net cash provided by (used in) financing activities 4.113 (38.118) 4.113 (38.118)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 304.515 (106.449) 298.641 (114.149)
Cash and cash equivalents at the beginning of the period 4 423.396 321.996 430.398 339.767
Cash and cash equivalents at the end of the period 4 727.911 215.547 729.039 225.618

The accompanying notes are an integral part of these financial statements.

Página 7

(A free translation of the original in Portuguese)

1. OPERATIONS

Banco Pine S.A. (the “Institution” or “Banco Pine”) is authorized to operate commercial, credit financing and foreign exchange portfolios.

The Institution’s operations are conducted in the context of a group of institutions which act jointly, and certain transactions involve the co-participation and intermediation of other
members of the Pine Financial Group. The benefits from the intercompany services and the costs for the operating and administrative structures are absorbed, either jointly or
individually, by these companies as is most practicable and reasonable in the circumstances.

2. PRESENTATION OF FINANCIAL STATEMENTS

This presentation consists of the quarterly financial information of Banco Pine, which includes those of its Grand Cayman Branch and Pine Securities (Individual) and the
consolidated financial information of Banco Pine and Subsidiaries (Consolidated).

The quarterly financial information is presented in reais (R$), which is the Institutior’s functional currency and that of its foreign branch. Unless otherwise indicated, the financial
information expressed in reais was rounded to the nearest thousand.

In compliance with Resolution 505/06, of the Brazilian Securities Commission (CVM), the Individual and Consolidated Financial Statements, as at April 29, 2013, were authorized
for issue on March, 31, 2013 by the Institution’s Board of Directors, among other matters.

The consolidated financial statements consider the transactions of Banco Pine S.A., including its branch abroad, its direct and indirect subsidiaries and the special purpose entity
that are presented below:

CES LESS Capital Em Net Profit(Loss)

Branch Abroad

Agencia Grand Cayman Foreign Branch 535.850 6.041 80.833 (196)
Pine Securities USA LLC” Broker Dealer 8.510 10.069 8.139 (835)
Subsidiaries

Pine Investimentos Distribuidora de Títulos e Valores Mobiliários Ltda. Securities dealer 101.039 13.385 38.805 731
Pine Comercializadora de Energia Elétrica Ltda % Consulting 81.553 77.400 81.228 798
Pine Corretora de seguros Ltda. Insurance broker 236 500 235 1
Pine Assessoria e Consultoria Ltda. * Consulting 35.564 500 35.188 (820)
Pine Assessoria em Comercializacáo de Energia * Consulting 50 60 50 a)
Pine Planejamento e Senvicos Ltda (% Consulting 12.964 10 11.407 7.289

Special Purpose Entity (SPE)
Pine Crédito Privado Fundo de Investimento em Direitos Creditórios Financeiros Receivables investment fund (FIDC) 136.413 97.270 136.324 (1.961)

Business activity LESS Capital E Net Profit(Loss)

Branch Abroad

Agencia Grand Cayman Foreign Branch 432.806 5.466 79.937 (1.046)
Subsidiaries

Pine Investimentos Distribuidora de Títulos e Valores Mobiliários Ltda. Securities dealer 37.274 13.385 34.662 2.632
Pine Comercializadora de Energia Elétrica Ltda % Consulting 81.404 77.400 80.728 133
Pine Corretora de seguros Ltda. Insurance broker 2.966 1 618 605
Pine Assessoria e Consultoria Ltda. % Consulting 14.971 1 9.541 7.928

Special Purpose Entity (SPE)
Pine Crédito Privado Fundo de Investimento em Direitos Creditórios Financeiros Receivables investment fund (FIDC) 345.522 301.600 345.508 12.002

1% Pine Corretora de Seguros Ltda. and Pine Assessoria e Consultoria Ltda. was consttuted on December 12, 2011. The companies have capital of RS500, divided into 500 shares, fuly subscribed and paid in local currency on December, 2012.

1% On February 16, 2012, the corporation was transformed into a limited liablty partnership and its name was changed from BP Empreendimentos e Participacóes S.A. to Pine Comercializadora de Energía Elétrica Ltda.

$ Pine Assessoria em Comercializacáo de Energía Ltda. was consttuted on April 24, 2012. Capital is R$10, comprising 10,000 quotas of RS1 each, fuly subscribed and paid up in Brazllan currency and distributed as follows: 90% – Pine Comercializadora
de Energía Elétrica, 10% – the Institution

% Pine Planejamento e Senigos Ltda. was consútuted on June 26, 2012. Capital is RS10, comprising 10,000 quotas of R$1 each, ful subscribed and paid up in Brazilian currency and distibuted as folows between the partners: 0.01% – Pine
Comercializadora de Energía Elétrica, 99.99% – the Institution.

(9 Pine Securities USA LLC. was constituted on October, 2012. The company has capital of R$10.000.

a) Pine Crédito Privado

Since the control over receivables assigned to this receivables investment fund (FIDC) still lies with the Institution (receipt, transfer and collection), and the Institution is the owner
of the subordinated shares, management decided to consolidate the FIDC, as provided for in CVM Circular 01/2007.

In accordance with Article 5 of CVM Instruction 408/04, we present below the information of Pine Crédito Privado, considered in preparing the consolidated financial statements:

i) Name, nature, purpose and activities of the FIDC:

Pine Crédito Privado Fundo de Investimento em Direitos Creditórios Financeiros, managed by Citibank Distribuidora de Títulos e Valores Mobiliários S/A., was constituted as a
closed fund on December 7, 2010. Distribution commenced on March 28, 2011. The Fund offered 207,000 senior shares at a unit value of R$1. The distribution period ended on
April 6, 2011. The Fund will terminate its activities in up to 180 days from the date on which the Senior Shares outstanding are redeemed in full (54 months subsequent to the
Fund’s distribution date).

The purpose of the Fund is to increase shareholder value, exclusively through the acquisition of financial segment Credit Rights, on business loans (working capital), originated
and assigned by Pine, which meet the Qualifying Criteria, as well as the portfolio composition and diversification indices established in the Regulation. As an additional activity,
the Fund will also make investments in Other Assets.

) Investment in the equity and results of the FIDC.

In accordance with Article 24, item XV, of CVM Instruction 356, and wording of CVM Instruction 393, and Chapter 21 of the Fund Regulation, 69% of the Fund’s equity will
comprise senior shares and 31% will comprise subordinated shares. This ratio will be determined daily and shall be made available for consultation monthly by the Fund
shareholders.

Página 8

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FINE

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012

02056-7 BANCO PINE S/A 62.144.175/0001-20

1) Nature of the Institution’s involvement with the FIDC and type of exposure to loss, if any, arising from this involvement.

Verification of whether the credit rights meet the assignment terms ¡s, pursuant to the assignment agreement, the sole responsibility of the assignor (Banco Pine), without limiting

the assignee’s (Fund) right, either directly or through third parties, to also conduct such verification.

Non-compliance with any obligation originating from the credit rights and other active components of the Fund’s portfolio, is attributed to the subordinated shares up to the limit

corresponding to the sum of their total value. Once this total has been exceeded, the default of credit rights held by the Fund is attributed to the senior shares. The subordinated

shares do not have a profitability target, however, they may benefit from any surplus yield generated by the credit right portfolio.

In the event the percentage of subordinated shares falls below 31% of the Fund’s equity, the Institution shall have five business days to recoup this minimum ratio, through the

subscription of new subordinated shares, and if this does not occur, the management entity shall call an Evaluation Event under the terms of the Fund regulations. In the event

the subordinated shares comprise more than 31% of the Fund’s Equity, the management entity may partially amortize the subordinated shares in the amount necessary to

rebalance this ratio.

iv) Amount and nature of receivables, payables, income and expenses between the Institution and FIDC, assets transferred by the Institution and rights of use over
the FIDC assets.

No loans were assigned to the FIDC for the period ended March 31,2013 and December 31, 2012.

Additionally, on account of its investment in subordinated shares in this Fund, the Institution recognized income at March, 31 2013, income of R$ 643 (March 31, 2012 –
R$5,082), recorded in the “result of marketable securities” account.

v) Total assets, liabilities and equity of the FIDC on March 31, 2013 and 2012:

12/31/2012 12/31/2011

Current assets 1.129 7.004 Current liabilities 88 40
Cash 2 1 Other liabilities 88 40
Short-term interbank investments 1120 7.003
Long-term receivables 135.284 171.502
Marketable securities 15.467 19.884
Loan operations 119.817 151.618 Equity 136.325 178.466
Total assets 135.293 178.506 Total lial 136.413 178.506

vi) Guarantees, sureties, mortgages or other collateral pledged in favor of the FIDC.
Banco Pine has provided no guarantee, surety, mortgage or other collateral in favor of the FIDC or its investors.

vii) Identification of the principal beneficiary or group of principal beneficiaries of the FIDC’s activities.
Banco Pine is the sole holder of all the subordinated shares of this Fund. The senior shares are held by different qualified investors.

3. SIGNIFICANT ACCOUNTING PRACTICES
The quarterly financial information of Banco Pine is prepared and presented in accordance with the accounting practices adopted in Brazil applicable to institutions authorized to
operate by the Brazilian Central Bank (BACEN) and to corporations, and by the Brazilian Securities Commission (CVM).

The standards issued by the Brazilian Accounting Pronouncements Committee (CPC) related to the process of convergence with international accounting standards, approved by
CVM, but not yet ratified by BACEN, were not adopted in the consolidated balance sheets. The standards approved by CVM which did not conflict with the rules of the National
Monetary Council (CMN) and BACEN and those which had been ratified by BACEN were adopted for the disclosure purposes of the quarterly financial information.

We present below the main accounting practices used:
a) Consolidation

The balances and the results of the transactions between Banco Pine and its subsidiaries Pine Investimentos, Pine Comercializadora, Pine Corretora, Pine Assessoria and Pine
Assessoria em Comercializagáo de Energia and Pine Planejamento were eliminated. For FIDC consolidation purposes, the balance of the loan assignment receivables portfolio
was included in the Institution’s loan operations portfolio, with a corresponding entry of the senior shares in the “Borrowings and onlendings – local” account, net of investments in
investment fund shares, comprising the shares held of this Fund.

b) Determination of the results of operations
Income and expenses are recorded on the accrual basis of accounting, which establishes that revenues and expenses should be included in the determination of the results for
the periods in which they occur, simultaneously when correlated, irrespective of their receipt or payment.

Financial revenue and expenses are prorated, based substantially on the exponential method.

Transactions with floating rates or those indexed to foreign currencies are adjusted up to the balance sheet date.

€) Cash and cash equivalents

Cash and cash equivalents comprise cash in local and foreign currencies, short-term financial investments and time deposits, with maturities at the original investment date equal
to or less than 90 days and which present an immaterial risk of change in fair value. These are used by the Institution to manage its short-term commitments.

d) Short-term interbank investments

Short-term interbank investments are presented at cost plus related eamings up to the balance sheet dates.

€) Marketable securities

In accordance with BACEN Circular 3068, of November 8, 2001, the Institution’s securities are classified in the following categories: “trading securities”, “available-for-sale
securities” and “held-to-maturity securities”.

Trading securities are those acquired to be traded on a frequent and active basis. These securities are presented at cost plus related earnings up to the balance sheet dates and
adjusted based on fair value with the adjustments recorded in the corresponding revenue or expense account in results for the period.

The securities classified as available for sale are those for which Management has no intention to hold to maturity or which were not acquired to be traded on a frequent and
active basis. These securities are recorded at cost plus related earnings up to the balance sheet dates and are adjusted to market value against the “Carrying value adjustments”
account in equity, net of tax effects.

The securities classified as held to maturity are those which management acquires with the intention and financial ability to hold in its portfolio to maturity. These securities are
recorded at cost plus related eamings. Premium and discount, where applicable, are appropriated to results based on the term of the individual securities.

Página 9

(A free translation of the original in Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES
NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012
02056-7 BANCO PINE S/A 62.144.175/0001-20

“Un ousands ol reals, exceptunk Share price)

Trading securities are presented in current assets, irrespective of their maturities.

1) Derivative financial instruments
In accordance with BACEN Circular 3082, of January 30, 2002, and Letter-Circular 3026, of July 5, 2002, the derivative financial instruments related to transactions with options,
forward transactions, futures and swaps are recorded in compliance with the following criteria:

Options: premiums paid or received are recorded in assets or liabilities, respectively, until the options are effectively exercised and recorded as a decrease or increase in
the cost of the asset or right, based on the effective exercise of the option, or as revenue or expense in the case of non-exercise;

Futures: daily adjustments are recorded in an asset or liability account and appropriated daily as revenue or expense;
Swaps: differences receivable or payable are recorded in an asset or liability account, respectively, and appropriated as revenue or expense on a pro rata basis to the
balance sheet date;
Forward contracts: recorded at the contract closing amount, less the difference between this amount and the spot price of the asset or right, recognizing the revenue and
expense over the term of the contract up to the balance sheet date.
The derivative financial instruments are measured at fair value, with the corresponding gains or losses recorded as follows:
Derivative financial instruments which do not qualify as hedges, as revenue or expense in results for the period
Financial instruments which meet hedging criteria are classified either as fair value or cash flow hedges.
Fair value hedges are designed to offset risks arising from the exposure to fluctuations in the market value of the hedged item. The instruments and hedged items are adjusted to
fair value and recorded in a profit or loss account.

9) Loan operations and allowance for loan losses

The loan operations are classified, as regards risk level, based on criteria which consider current economic conditions, past experience and the specific risks related to the
transactions, the borrowers and the guarantors, in compliance with the parameters established by CMN Resolution 2682/99, which require the periodic analysis of the portfolio
and its classification into nine levels (from “AA” to “H”).

Income from loan operations past due for more than 60 days, regardless of the risk level, is only recognized as revenue on the date it is effectively received. The revenue
assigned loans with or without co-obligation are recognised in the income statement on the date that the assignments are made.

H-rated operations (allowance recorded at 100%) remain at this level for six months, and are subsequently written off against the existing allowance and controlled over a five-
year period in memorandum accounts and are no longer presented in the balance sheet.
Renegotiated loans are held at the same level at which they were originally classified at the time of the renegotiation.

Renegotiated loans which had already been written off as losses and which were recorded in memorandum accounts, are H rated, and any gains arising from the renegotiation
are only recognized when actually received.

The allowance for loan losses meets the minimum requirement established by the aforementioned Resolution, as described in Note 7.

The allowance for loan losses related to credit assignments with co-obligation is calculated based on the same guidelines established by BACEN for unassigned loan operations.

h) Prepaid expenses

These are controlled by contract and accounted for in the prepaid expenses account. The expenses are appropriated to results for the period based on the corresponding contract
term and recorded in the “Other administrative expenses” account.

i) Other current assets and long-term receivables

These are stated at cost, including, where applicable, related accrued income and monetary variations, less the corresponding provisions for loss or adjustments to realizable
value.

j) Permanent assets

These assets are stated at cost and consider the following:

Investments in subsidiaries are accounted for using the equity method
Property and equipment items correspond to rights in tangible assets which are used in the Institution’s business activities, or exercised for this purpose, including those
arising from transactions which transfer the risks, benefits and control of assets to the entity.

Depreciation of property and equipment is computed and recorded on the straight-line method at annual rates which consider the economic useful lives of the assets;

Intangible assets correspond to the rights acquired in non-physical assets which are used in the Institution’s business or which are exercised for this purpose. The intangible
assets with identifiable useful lives are generally amortized on the straight-line method over the estimated period of economic benefit.

k) Impairment of non-financial assets
An impairment loss is recognized if the carrying amount of an asset or its cash generating unit exceeds its recoverable amount. A cash generating unit is the smallest identifiable
group of assets which generates cash flows that are largely independent from other assets and groups. Impairment losses are recognized in results for the period. The non-
financial asset amounts, except for deferred tax assets are tested, at least, annually to determine whether there is any indication of impairment.

I) Purchase and sale commitments

The purchase (sale) of financial assets based on a fixed price resale (repurchase) contract is recorded in the consolidated balance sheet as financing granted (received), based
on the nature of the debtor (creditor), in the “Funds obtained in the open market” account.

m) Current and long-term liabilities

These are stated at known or estimated amounts including, where applicable, accrued charges and monetary or exchange variations up to the balance sheet dates.

n) Contingent assets and liabilities and legal obligations

The recognition, measurement and disclosure of contingent assets and liabilities, and legal obligations (tax and social security) are based on the criteria defined in Resolution
3823/09, and Letter Circular 3429/10, which approved CPC Technical Pronouncement 25, as follows:

Contingent assets: are not recorded in the financial statements, except when there is evidence which assures a high degree of confidence that they will be realized,
normally through a final and unappealable court decision.

Contingent liabilities: the reserve for contingencies is determined based on the probability of an unfavorable sentence or outcome of the related litigation, as well as the
probable period of the loss. The necessary reserve is calculated based on an analysis of each process and the opinion of the legal advisors. Reserves are recorded for processes
in which the possibility of loss is deemed probable. The reserves required could be changed in the future based on the progress of each suit;

Página 10

(A free translation of the original in Portuguese)
FINE

BANCO PINE S.A. AND SUBSIDIARIES
NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012
02056-7 BANCO PINE S/A 62.144.175/0001-20
RE ra

Legal obligations (tax and social security): comprise administrative proceedings or lawsuits related to tax and social security obligations, the legality or constitutionality of
which is being contested, whose amounts, regardless of the related probability of success, are recorded at the full amount in dispute and adjusted in accordance with the
legislation in force.

0) Provision for income tax and social contribution

The provisions for income tax and social contribution are recorded at the following statutory rates: Income tax – 15%, plus a 10% surcharge on taxable income exceeding R$ 60
(for the quarter), and social contribution – 15%. Further, deferred tax assets are recorded on temporary differences based on the assumption that the future taxable income
generated by the Institution will be sufficient to offset these assets.

In accordance with Provisional Measure (MP) 449/08, subsequently enacted into Law 11941/09, the changes in the criteria used to recognize revenue, costs and expenses
computed in determining net income, introduced by Law 11638/07 and by Articles 36 and 37 of the MP, may be ignored for purposes of calculating the taxable income if
companies elect to use the Transitional Tax System (RTT). In this case, for tax purposes, the accounting methods and criteria in force at December 31, 2007 will be followed.

p) Profit sharing

Banco Pine has its own profit sharing program (PPLR) ratified by the Bank Employees Trade Union.

The general assumptions of this program are: (a) business unit performance; (b) establishment of a fund for distribution across the organization; and (c) assessment of the skills
and the meeting of targets in the supporting areas. The related expenses were recognized in the “Profit sharing” account”.(See Note 23(a)).

q) Use of estimates

The preparation of financial statements requires Management to make estimates and assumptions, to the best of its judgment, that affect the reported amounts of certain assets,
liabilites, revenues and expenses and other transactions, such as the fair value of assets and derivatives and the allowance for loan losses, the establishing of the period for
realizing deferred tax assets, property and equipment depreciation rates, amortization of deferred charges and reserves for contingences and others. Actual results may differ
from these estimates.

r) Net income per share

This is calculated based on the number of outstanding shares paid up at the date of the quarterly financial information.

4. CASH AND CASH EQUIVALENTS

ERTITE] ET 3/31/2013 12/31/2012
Cash 211.602 126.111 211.611 126.111
Short-term interbank investments % 516.309 297.285 517.428 304.288
Total cash and cash equivalents 727.911 423.396 729.039 430.399

0 Tes are Vansacions Wi maltes at the original investment date equal to or less than 90 days.
5. INTERBANK INVESTMENTS

Interbank investments at March 31, 2013 and December 31, 2012, are comprised as follows:

From 31to BE OEA
90 days OO 360 days

Own portfolio position

Financial Treasury Bills (LFT) 14.652 – – – 14.652
National Treasury Bills (LTN) 138.318 – – – 138.318
Federal Treasury Notes (NTN) 55.435 – – – 55.435
Subtotal 208.405 – – – 208.405
Investments in purchase
Federal Treasury Notes (NTN) 104.438 – – – 104.438
Subtotal 104.438 – – – 104.438
Investments in sales
National Treasury Bills (LTN) 62.777 – – – 72.239
Federal Treasury Notes (NTN) 72.239 – – – 72.239
Subtotal 135.016 0 0 o 135.016
Total investments in purchase and sale

Commitments 447.859 – – – 447.859

Interbank deposits

Own portfolio
Floating rate – 329 632 406 1.367
Rural CDI – – 25.225 100 25.325
Subtotal – 329 25.857 506 26.692
Subject to guarantees
Floating rate 5.333 14.983 26.671 20.278 67.265
Subtotal 5.333 14.983 26.671 20.278 67.265
Total interbank

Deposits 5.333 15.312 52.528 20.784 93.957
Foreign currency investments
Foreign currency investments 68.449 – – – 68.449
Total foreign currency investments 68.449 – – – 68.449
Total short-term interbank

investments 521.641 15.312 52.528 20.784 610.265

pu] EEE E GE

30 days 90 days OO ET

Investments in purchase and sale commitments
Own portfolio position

Financial Treasury Bills (LFT) 14.651 – – – 14.651
National Treasury Bills (LTN) 139.438 – – – 139.438
Federal Treasury Notes (NTN) 55.436 – – – 55.436
Subtotal 209.525 – – – 209.525
Investments in purchase

Federal Treasury Notes (NTN) 104.438 – – – 104.438

Página 11

(A free translation of the original in Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012
02056-7 BANCO PINE S/A 62.144.175/0001-20

FINE

ln inousands ol real, except uni Share price)
Subtotal 104.438 – –
Investments in sales
National Treasury Bills (LTN) 62.777 – –
Federal Treasury Notes (NTN) 72.239 – –
Subtotal 135.016 0 0
Total investments in purchase and sale

Commitments 448.979 – –
Interbank deposits
Own portfolio
Floating rate – 329 632
col – – 25.225
Subtotal – 329 25.857
Subject to guarantees
Floating rate 5.333 14.983 26.671
Subtotal 5.333 14.983 26.671
Total interbank

deposits 5.333 15.312 52.528
Foreign currency investments
Foreign currency investments 68.449 – –
Total foreign currency investments 68.449 – –
Total short-term interbank

investments 522.761 15.312 52.528

Página 12

406
100
506

20.278
20.278

20.784

104.438

62.777

72.239

135.016

448.979

1.367

25.325

26.692

67.265
67.265

93.957

68.449
68.449

611.385

(A free translation of the original in Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012
02056-7 BANCO PINE SIA. 62.144.175/0001-20

“Un ousands ol reals, exceptunk Share price)

uE) EOTETS OE COGE

30 days 90 days OO 360 days

Investments in purchase and sale commitments
Own portfolio position

Financial Treasury Bills (LFT) 110.029 – – – 110.029
National Treasury Bills (LTN) 74.150 – – – 74.150
Federal Treasury Notes (NTN) 95.026 – – – 95.026
Subtotal 279.205 279.205
Total investments in purchase and sale

commitments 279.205 – – – 279.205
Interbank deposits
Own portfol
Floating rate – – 324 1.604 1.928
Rural CDI – 4.651 – 22.119 26.770
Subtotal – 4.651 324 23.723 28.698
Subject to guarantees
Floating rate – 996 24.994 45.611 71.601
Subtotal – 996 24.994 45.611 71.601
Total interbank

deposits – 5.647 25.318 169.334 100.299
Foreign currency investments
Foreign currency investments 18.080 – – – 18.080
Total foreign currency investments 18.080 – – – 18.080
Total short-ten

investments 297.285 5.647 25.318 69.334 397.584

From 31to BE
TA 90 days OO

Investments in purchase and sale commitments

Financial Treasury Bills (LFT) 110.029 – – – 110.029
National Treasury Bills (LTN) 81.153 – – – 81.153
Federal Treasury Notes (NTN) 95.026 – – – 95.026
Subtotal 286.208 0 0 o 286.208
Total investments in purchase and sale

commitments 286.208 – – – 286.208
Interbank deposits
Own portfolio
Floating rate – – 324 1.604 1.928
Rural CDI – 4.651 – 22.119 26.770
Subtotal – 4.651 324 23.723 28.698
Subject to guarantees
Floating rate – 996 24.994 45.611 71.601
Subtotal – 996 24.994 45.611 71.601
Total interbank

investments 304.288 5.647 25.318 169.334 404.587

6. MARKETABLE SECURITIES AND DERIVATIVE FINANCIAL INSTRUMENTS

a) Marketable securities

The securities portfolio at March 31, 2013 and December 31, 2012 was comprised as follows:

AAA
No stated 1×7 BE OA AN Curve based

O 30 days OO 360 days amount

‘Ovwn portfolio:
LTN – – – 190.695 – 190.695 190.859
NTN “ – – – 171.423 171.423 176.267
Promissory Notes 42.070 – – – – 42.070 42.066
Debentures “ – – – 65.157 65.157 68.532
Investment fund quotas “ – – – 44.867 44.867 44.867
Certificate of Real Estate Receivables (CRI) “ – – 17.944 – 17.944 17.781
Subtotal 42.070 – – 208.639 281.447 532.156 540.372
Subject to repurchase agreements:

NTN “ “ – – 148.271 148.271 153.432
Subtotal – – – – 148.271 148.271 153.432
Total available-for-sale securities 42.070 – – 208.639 429.718 680.427 693.804
Own portfolio:

LTN – 329.854 – 1678 5.714 337.246 337.145
NTN – – – 8.041 63.332 71.373 69.930
Debentures – – 97.241 – 60.433 157.674 157.116
Eurobond – 298 – – 24,746 25.044 24.993
Investment Fund Quotas%- 349.969 – – – – 349.969 346.885
Subtotal 349.969 330.152 97.241 9.719 154.225 941.306 936.069
Subject to repurchase agreements:

LTN – 1.296.114 – – – 1.296.114 1.291.284
NTN – 219.373 – – – 219.373 217.007
Debentures – 62.023 – – – 62.023 59.511

Página 13

(A free translation of the original in Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012

FINE

02056-7 BANCO PINE S/A 62.144.175/0001-20
Un inousands ol real, except uni Share price)

Subtotal – 1.577.510 – – 1.577.510 1.567.802
Subject to guarantees

LTN – 140.213 – 140.213 139.939
Subtotal – 140.213 – – – 140.213 139.939
Total trading 349.969 2.047.875 97.241 9.719 154.225 2.659.029 2.643.810
Total securities 392.039 2.047.875 97.241 218.358 583.943 3.339.456 3.337.614

Página 14

(A free translation of the original in Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012
02056-7 BANCO PINE SIA. 62.144.175/0001-20

“Un ousands ol reals, exceptunk Share price)

AR
TT 1×7 eE GO AN Curve based
EAN 30 days OS 360 days 360 days EAN

LTN – – – 190.695

– 190.695 190.859
NTN – – – – 171.423 171.423 176.267
Promissory Notes 42.070 – – – – 42.070 42.066
Debentures – – – – 65.157 65.157 68.532
Certificates of Real Estate Receivables (CRI) – – – 17.944 – 17.944 17.781
Subtotal 42.070 – – 208.639 236.580 487.289 495.505
Subject to repurchase agreements:
NTN – – – – 148.271 148.271 153.432
Subtotal – – – – 148.271 148.271 153.432
Total available-for-sale securities 42.070 – – 208.639 384.851 635.560 648.937
– 329.854 – 1678 21181 352.713 352.612
– – – 8.041 63.332 71.373 69.930
Debentures – – 97.241 – 60.433 157.674 157.116
Eurobonds – 298 – – 24,746 25.044 24.993
Investment Fund Quotas (?: 349.969 – – – – 349.969 346.885
Subtotal 349.969 330.152 97.241 9.719 169.692 956.773 951.536
Subject to repurchase commitments:
LTN – 1.296.114 – – – 1.296.114 1.291.284
NTN – 219.373 – – – 219.373 217.007
Debentures – 62.023 – – – 62.023 59511
Subtotal – 1.577.510 – – – 1.577.510 1.567.802
Subject to guarantees:
LTN – 140.213 – – – 140.213 139.939
Subtotal – 140.213 – – – 140.213 139.939
Total trading sect 349.969 2.047.875 97.241 9.719 169.692 2.674.496 2.659.277
Total securities 392.039 2.047.875 97.241 218.358 554.543 3.310.056 3.308.214

LOSE

No stated 777 Upto FromBlto – Fromi8lto Morethan EA
EA 30 days 180 days 360 days EEN

“Own portfolio:
NTN – – – – 150.403 150.403 150.694
Promissory Notes – – 61.070 – – 61.070 61.362
Eurobond – – – – 2.123 2.123 2.109
Investment fund quotas – FIDC – – – – 59.731 59.731 59.731
Investment fund quotas? 337.047 – – – – 337.047 337.047
Certificates of Real Estate Receivables (CRI) – – – – 16.976 16.976 17.250
Subtotal
Total available-for-sale securities 337.047 – 61.070 . 229.233 627.350 628.193
Trading Securities %:
“Own portfolio:
LIN – 599.836 30.067 12.813 174.169 816.885 811377
NTN – 209.704 – – 144.427 354.131 345.710
Debentures – – 4.018 91.190 150.706 245.914 239.976
Subtotal – 809.540 34,085 104.003 469.302 1.416.930 1.397.063
Subject to repurchase commitments:
LIN – 1.680.794 – – – 1.680.794 1.663.090
Debentures – 167.161 – – – 167.161 157.878
Subtotal – 1.847.955 – . – 1.847.955 1.820.968
Subject to guarantees:
LIN – 71.120 – – – 71120 70.837
Subtotal – 71.120 – . – 71.120 70.837
Total trading sec – 2.728.615 34,085 104,003 469.302 3.336.005 3.288.868
Total securities 337.047 2.728.615 95.155 104,003 698.535 2.963.355 3.917.061

Página 15

(A free translation of the original in Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012
02056-7 BANCO PINE S/A 62.144.175/0001-20

“Un ousands ol reals, exceptunk Share price)

Amounts marked to market
AA 1×7 GRE OE AN Curve based

E 30 days OO ES EA

NTN “ – – – 150.403 150.403 150.694
Promissory Notes “ – 61.070 – – 61.070 61.362
Eurobonds “ – – – 2.123 2.123 2.109
Investment fund quotas% 337.047 – – – – 337.047 337.047
Certificates of real estate receivables (CRI) “ – – – 16.976 16.976 17.250
Total available-for-sale securities 337.047 – 61.070 – 169.502 567.619 568.462
LTN – 599.836 30.067 12.813 194.053 836.769 831.261
NTN – 209.704 – – 144.427 354.131 345.710
Debentures – – 4.018 91.190 150.706 245.914 239.976
Subtotal – 809.540 34.085 104.003 489.186 1.436.814 1.416.947
Subject to repurchase

commitments:

LTN – 1.680.794 – – – 1.680.794. 1.663.090
Debentures – 167.161 – – – 167.161 157.878
Subtotal – 1.847.955 – – – 1.847.955 1.820.968
Subject to

guarantees:

LTN – 71.120 – – – 71.120 70.837
Subtotal 71.120 – – – 71.120 70.837
Total trading

securities – 2.728.615 34.085 104.003 489.186 3.355.889 3.308.752
Total securities 337.047 2.728.615 95.155 104.003 658.688 3.923.508 3.877.214

(4) Securities classified in the “trading” category are stated based on their maturiy dates,

(2) The quotas total RS349,969 (December 31, 2012- R$338.601), not including the provision for devaluation of investment fund quotas in the amount of RS1,554, of which R$259,375 (December 31, 2012 – RS251.304) of Pine CM Fundo de
Investimento Multimercado Crédito Privado and RS90,594 (December 31, 2012 – RS87.297) of Pine FICFI Multimercado Crédito Privado Investimento no Exterior. The assets comprising the funds are, in their majority, debentures, promissory notes and
recelvables cerificates(note 7a)

At March 31,2013 and December 31, 2012 there was no securities classified as “held to maturity”.

In accordance with Article 5 of Circular no. 3.068/08, from The Central Bank, the revaluation regarding the classification of the securities is allowed upon the semester-end
balance. At March 31, 2013 these was no reclassification of category. At December 31, 2012 securities totalling R$ 188,501 were reclassified from “available-for-sale” to “trading”
generating an additional income of R$ 12,527, R$ 7,516 net of tax effects, classified as “Income from financial intermediation – Marketable securities”.

The market values of the securities recorded in the “available for sale” and “trading” categories were determined based on the prices and rates exercised at March 31, 2013 and
December 31, 2012, disclosed by the Brazilian Association of Financial and Capital Market Institutions (ANBIMA), BM£FBovespa S.A. – Bolsa de Valores, Mercadorias e
Futuros, by investment fund managers and by the international information agencies. The mark-to-market adjustment of the securities recorded in the “available for sale”
category generated a loss of R$13,377 on an Individual and Consolidated basis (December 31, 2012 – loss of R$843 on Individual and Consolidated basis), affecting the equity of
the Institution by R$5,351 on an Individual and Consolidated basis (December 31, 2012 – R$514 on Individual and Consolidated basis), net of tax effects. The mark-to-market
adjustment of the securities recorded in the “trading” category resulted in a gain of R$ 15,219 in the Individual and Consolidated (December 31, 2012 – gain of R$47,137 in
Individual and Consolidated) in results.

b) Derivative financial instruments

ization policy

The growing level of company sophistication in a global market prompted an increase in the demand for derivative financial instruments to manage balance sheet exposure to
Market risks, arising mainly from fluctuating interest and foreign exchange rates, the price of commodities and other asset prices. As a result, Banco Pine offers its customers
alternatives for mitigating market risks through appropriate instruments, as well as to meet its own needs for managing these risks.

Management

The management of portfolio risks is controlled using techniques which include the following: VaR, sensitivity, liquidity risk and stress scenarios. Based on this information, the
necessary derivative financial instruments are contracted by the treasury department, pursuant to Management’s previously defined market and liquidity risk policy. Derivative
transactions carried out by Banco Pine with customers are neutralized to eliminate market risks.

The sale of derivative financial instruments to customers is subject to prior credit limit approval. The credit limit approval process also considers potential stress scenarios.

Knowing the customer, their operating sector and their risk appetite profile, as well as being able to provide information on the risks involved in the transaction and in the terms
and conditions negotiated, ensures that the relationship between the parties is transparent and permits the Institution to offer customers the products which are most appropriate
to their specific needs.

The majority of the derivative contracts negotiated by the Institution with customers in Brazil, comprise swaps, forward transactions, options and futures registered at
BMEFBovespa or CETIP S.A. – Balcáo Organizado de Ativos e Derivativos. The derivative contracts negotiated abroad comprise futures, forward transactions, options and
swaps mainly registered at the Chicago, New York and London exchanges. We stress that although certain trades abroad are carried out over-the-counter (OTC), the related
risks are low in relation to the Institution’s total transactions.

The main market risk factors monitored by Banco Pine include exchange rates, local interest rate volatility (fixed, reference rate (TR), General Price Index – Market (IGP-M) long-
term interest rate (TJLP) and Extended Consumer Price Index (IPCA)), exchange coupon and commodities. The Institution adopts a conservative approach, minimizing its
exposure to risk factors and to the mismatching of the portfolios terms.

Página 16

(A free translation of the original in Portuguese)

Evaluation and measurement criteria, methods and assumptions used to determine fair value

The Institution uses the market reference rates disclosed principally by BM£FBovespa, Intercontinental Exchange (ICE) and Bloomberg to determine the fair value of the
derivative financial instruments. For derivatives whose prices are not directly disclosed by the exchanges, the fair values are obtained through pricing models that use market
information, determined based on the prices disclosed for assets with the greatest liquidity. Based on these prices, the Institution extracts the interest curves and market
volatilities which are used as entry data for the models. The OTC derivatives, forward contracts and securities with low liquidity are determined in this way.

iv) Amounts recorded in balance sheet and memorandum accounts, segregated into the following categorie:
maturities, cost and fair values.

index, counterparty, trading market, notional values,

At March 31, 2013 and December 31, 2012, the derivative financial instrument positions are as follows:

Individual and Consolidated
3/81/2013 ETA
ASSETS
Swap – difference receivable 204,945 216.102
Forward contracts- receivable 33.763 85.122
Premiums on unexercised options 55.096 36.109
Total receivable 293.804 337.333
LIABILITIES
Swap – difference payable 23.271 37.625
Forward contracts- payable 34.109 21.647
Premiums on written options 52.325 41.121
Total payable 109.705 100.393
Net amount 184.099 236.940

v Derivative financial instruments by index

Notional (LTS
amount ETS

Market risk

Asset position: 2.877.091 3.254.501 3.039.303 215.198
Interest 2.099.464 2.344.178 2.191.487 152.691
Currency 711.450 840.756 782.049 58.707
Commodities 3.312 3.086 3.086 –
Variable income 62.865 66.481 62.681 3.800
Li position: 2.877.091 3.072.827 2.976.806 96.021
Interest 2.192.963 2.351.900 2.273.832 78.068
Currency 684.128 720.927 702.974 17.953
Total swaps – 181.674 62.497 119.177

Forward contracts

Asset position: 2.315.752 2.320.947 2.338.065 (17.118)
Interest 654.947 652.864 659.645 (6.781)
Currency 1.482.679 1.495.755 1.506.977 (11.222)
Commodities 178.126 172.328 171.443 885
Li position: 2.315.752 2.321.293 2.345.164 (22.871)
Interest 1.041.179 1.053.289 1.072.093 (18.804)
Currency 1.161.837 1.165.818 1.171.841 (6.023)
Commodities 112.736 102.186 101.230 956
Net amount – (346) (7.099) 6.753
Options

Premiums on unexercised options: 1.764.377 55.096 59.444 (4.348)
Currency 1.073.310 24.642 28.337 (2.695)
Commodities 691.067 30.454 31.107 (653)
Premiums on written options: 1.728.946 52.325 61.370 (9.045)
Currency 832.648 18.077 18.348 (71)
Commodities 896.298 34.248 43.022 (8.774)
Net amount 2.771 (1.926) (4.697)
Futures

Purchase: 1.742.169 – – 2.601

Interest 809.001 – – (919)
Currency 829.589 – – 3.520
Commodities 103.579 – – –
Sale: 2.699.949 – – (5.404)
Interest 2.413.563 – – (4.901)
Currency 115.656 – – (502)
Commodities 170.730 – – 0)
Net amount – – (2.803)
Total receivable (payable) and gain (loss) 184.099 53.472 118.430

Página 17

(A free translation of the original in Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012
02056-7 BANCO PINE SIA. 62.144.175/0001-20

“Un housands ol reals, exceptunk Share price)

CS ES

Cash flow hedge
Asset position: 2.794.342 3.207.127 3.020.976 186.151
Interest 2.067.246 2.312.680 2.202.483 110.197
Currency 644,261 805.350 731.310 74.040
Commodities 19.028 19.011 18.970 aL
Variable income 63.807 70.086 68.213 1.873
Li position: 2.794.342 3.028.650 2.915.600 113.050
Interest 1.919.358 2.110.067 2.018.062 92.005
Currency 874.984 918.583 897.538 21.045
Net amount – 178.477 105.376 299.201

Forward contracts

Asset position: 2.579.250 2.634.263 2.648.976 (14.713)
Interest 554.932 554,085 558.167 (4.082)
Currency 1.874.582 1.927.728 1.938.929 (11.201)
Commodities 149.736 152.450 151.880 570
Li position: 2.579.250 2.570.788 2.593.764 (22.976)
Interest 1.375.129 1.388.212 1.406.871 (18.659)
Currency 998.478 997.204 1.002.419 (5.215)
Commodities 205.643 185.372 184.474 898
Net amount – 63.475 55.212 8.263
Options

Premiums on unexercised options: 1.200.312 36.109 36.260 (151)
Currency 661.386 10.052 14.977 (4.924)
Commodities 538.926 26.057 21.284 4.773
Premiums on written options: 1.842.841 41.121 48.072 (6.951)
Currency 1.160.633 15.859 19.084 (2.226)
Commodities 682.208 25,263 28.988 (8.725)
Net amount (5.012) (11812) 6.800
Futures

Purchase: 1.985.824 – – (3.295)
Interest 1.063.206 – – (167)
Currency 840.567 – – (2.128)
Commodities 82.051 – – –
Sale: 2.563.454 – “ 5.997
Interest 2.424.256 – – 5.832
Currency 48.362 – – 171
Commodities 90.836 – – (6)
Net amount – – 2.702
Total receivable (payable) and gain (loss) 236.940 148.776 316.966

vi) Derivative financial instruments by maturity

Market value

Up to LOSE RE ABE EE LS
Individual and Consolidated 30 days CES 90 days TS E 360 days

Asset position:

Swap 115.293 70.400 82.010 342.681 521.219 2.122.898 3.254.501
Forward contracts 730.375 281.977 152.059 459.910 411.832 284.794 2.320.947
Options 21.852 784 8.442 13.154 10.864 – 55.096
Futures 394.124 398.160 95.650 93.756 163.105 597.374 1.742.169
Li position:

Swap 110.259 67.814 81.724 336.437 509.852 1.966.741 3.072.827
Forward contracts 721.643 281.976 157.628 462.965 410.454 286.627 2.321.293
Options 10.490 2.122 6.102 16,944 16.667 – 52.325
Futures 385.143 99.793 107.876 883.945 518.418 704.774 2.699.949

Página 18

(A free translation of the original in Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012
02056-7 BANCO PINE SIA. 62.144.175/0001-20

“Un housands ol reals, exceptunk Share price)

DEMANA

ODE
Individual and Consolidated TS

Asset position:

Swap 416.506 61.832 37.590 371.916 244,977 2.074.306 3.207.127
Forward contracts 528.921 542.766 251.175 628.976 424.161 258.264 2.634.263
Options 4.427 10.252 – 15.600 5.830 – 36.109
Futures 253.621 863.967 – 63,513 271.637 533.086 1.985.824
Li position:

Swap 398.096 59.832 36.677 359.265 233.501 1.941.279 3.028.650
Forward contracts 525.369 533.868 243.298 597.121 413.609 257.523 2.570.788
Options 4.954 13,745 206 14.706 7.510 – 41.121
Futures 89.151 100.009 2.361 352.469 949.454 1.070.010 2.563.454

vii) Derivative financial instruments by trading market

At March 31, 2013 and December 31, 2012, the swaps, forward contracts and options, whose notional values are recorded in a memorandum account are comprised as follows:

COMENTA

3/81/2013
ES TS NES CNE O
Exchange 179.718 148.699 2.290.193 4.442.118 90.300 – 1.842.470 4.549.278
BMEFBOVESPA 125.300 – 1.489.125 4.147.156 90.300 – 1.246.325 4.374.560
Exchanges abroad 54.418 148.699 801.068 294.962 – – 596.145 174.718
orc 2.697.373 2.167.053 1.203.130 – 2.704.042 2.579.250 1.200.683 –
Financial institutions – – – – 55.220 151.117 22.683 .
Companies 2.697.373 2.167.053 1.203.130 – 2.648.822 2.428.133 1.178.000 –
Total 2.877.091 2.315.752 3.493.323 4.442.118 2.794.342 2.579.250 3.043.153 4.549.278

viii) Results from derivative financial instruments
We present below the gains and losses (realized or unrealized) which had an effect on the results for the quarterly ended March 31, 2013 and 2012:

COMENTAN]

Derivative financial instruments

Swap 319.551 259.684 59.867 266.062 233.239 22.823
Futures 615.639 594.693 20.946 585.941 585.824 117
Forward contracts 72.623 93.456 (20.833) 104.410 143.164 (88.754)
Options 103.485 101.241 2.244 17.727 17.569 158
Total 1.111.298 1.049.074 62.224 974.140 979.796 (5.656)

ix) Amount and type of guarantee margin
The margin amounts deposited in guarantee at March 31, 2013 and December 31, 2012 are comprised as follows:

COMENTA

3/31/2013

Guarantee margin – Judicial
National Treasury Bis (CTN) 31.987 –
Subtotal 31.987 –

¡Guarantee margin – Exchange clearing house – BMC
National Treasury Bills (CTN) 11.048 10.870
Subtotal 11.048 10.870

¡Guarantee margin – BM£FBovespa

National Treasury Bils (LTN) 97.178 60.250
Subtotal 97.178 60.250
Total 140.213 71.120

Página 19

(A free translation of the original in Portuguese)

7. CREDIT PORTFOLIO, GUARANTEES PROVIDED AND SECURITIES WITH CREDIT RISK

We present below a summary of the loan operation portfolio information at March 31, 2013 and December 31, 2012:

a) By type of loan:

E
Details ETA
Public sector – 6.304 – 6.304
Working capital 2.334.242 2.186.731 2.456.413 2.338.349
Overdraft account 18.724 12.086 18.724 12.086
BNDES/FINAME onlending 826.397 852.643 826.397 852.643
Paycheck deductible loans 25.647 35.926 25.647 35.926
Foreign currency financing 230.397 280.156 230.397 280.156
Export financing 861.455 798.784 861.455 798.784
Direct consumer financing (CDC) – vehicles 86 227 86 227
Buyer financing (Compror) – 18.407 – 18.407
Subtotal Loan Operations 4.296.948 4.191.264 4.419.119 4.342.882
Debtors for purchase of assets’” 116.937 114.120 116.937 114.120
Advances on foreign exchange contracts and income receivable * 481.355 491.539 481.355 491.539
Credit Receivables % 96.879 89.075 96.879 89.075
Credit portfolio 4.992.119 4.885.998 5.114.290 5.037.616
Loans for imports 120.446 8814 120.446 8.814
Guarantees provided 2.500.459 2.114.296 2.500.459 2.114.296
Coobligations in loan assignments 209 334 209 334
‘Guarantees provided and responsil 2.621.114 2.123.444 2.621.114 2.123.444
Notes and credits receivable”” 30.259 30.767 30.259 30.767
Corporate bonds 639.781 756.027 639.781 756.027
Securities with credit risk 670.040 786.794 670.040 786.794
Total expanded portfo! 8.283.273 7.796.236 8.405.444 7.947.854

(9 Recorded in “Other recelvables – sundry” (Note 9a).
(Recorded in “Other liabliies” and “Foreign exchange portfolio” (Note 8).
(9 Mostly promissory notes and receivables certfcates in the funds portfoio and in Banco Pine’s portfolio (Note 6(a)).

b) By maturity:

ETA ETT
Amount Amount

Up to 3 months 1.050.826 21,27 15.496 20,18 1.066.322 21,36
From 3 to 12 months 2.099.630 42,50 35.854 69,82 2.135.484 42,78
From 1to 3 years 1.169.510 23,67 2 – 1.169.512 23,43
From 3 to 5 years 492.085 9,95 – – 492.085 9,85
From 5 to 15 years 128.716 2,61 – – 128.716 2,58
Total credit portfolio 4.940.767 100,00 51.352 100,00 4.992.119 100,00
Up to 3 months 555.715 21,20 – – 555.715 21,20
From 3 to 12 months 928.443 35,42 – – 928.443 35,42
From 1to 3 years 668.295 25,50 – – 668.295 25,50
From 3 to 5 years 409.236 15,61 – – 409.236 15,61
From 5 to 15 years 59.425 2,27 – – 59.425 2,27
Total guarantees provided and responsi 2.621.114 100,00 – – 2.621.114 100,00
Up to 3 months 151.359 22,59 – – 151.359 22,59
From 3 to 12 months 118.518 17,69 – – 118.518 17,69
From 1to 3 years 116.205 17,34 – – 116.205 17,34
From 3 to 5 years 189.580 28,29 – – 189.580 28,29
From 5 to 15 years 94.378 14,09 – – 94.378 14,09
Total securities with credit risk 670.040 100,00 – – 670.040 100,00
Total expanded portfolio 8.231.921 51.352 8.283.273

Amount OT
Amount CET
Up to 3 months 1.050.826 20,76 15.496 20,18 1.066.322 20,85
From 3 to 12 months 2.099.630 41,47 35.854 69,82 2.135.484 41,76
From 1to 3 years 1.291.681 25,51 2 – 1.291.683 25,26
From 3 to 5 years 492.085 9,72 – – 492.085 9,61
From 5 to 15 years 128.716 2,54 – – 128.716 2,52
Total credit portfolio 5.062.938 100,00 51.352 100,00 5.114.290 100,00
Up to 3 months 555.715 21,20 – – 555.715 21,20
From 3 to 12 months 928.443 35,42 – – 928.443 35,42
From 1to 3 years 668.295 25,50 – – 668.295 25,50
From 3 to 5 years 409.236 15,61 – – 409.236 15,61
From 5 to 15 years 59.425 2,27 – – 59.425 2,27
Total guarantees provided and responsibiliti 2.621.114 100,00 – – 2.621.114 100,00
Up to 3 months 151.359 22,59 – – 151.359 22,59
From 3 to 12 months 118.518 17,69 – – 118.518 17,69
From 1to 3 years 116.205 17,34 – – 116.205 17,34
From 3 to 5 years 189.580 28,29 – – 189.580 28,29
From 5 to 15 years 94.378 14,09 – – 94.378 14,09
Total securities with credit risk 670.040 100,00 – – 670.040 100,00

8.354.092 51.352 8.405.444

Total expanded portfo!

Página 20

(A free translation of the original in Portuguese)
BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012
02056-7 BANCO PINE S/A 62.144.175/0001-20

“in thousands ol 1eals, except un share price)

ETA ETT
Amount

Up to 3 months 1.369.941 28,26 1.603 4,11 1.371.544 28,07
From 3 to 12 months 1.883.264 38,85 37.376 95,89 1.920.640 39,31
From 1to 3 years 1.088.845 22,46 – – 1.088.845 22,29
From 3 to 5 years 367.983 7,59 – – 267.983 7,53
From 5 to 15 years 136.986 2,83 – – 136.986 2,80
Total credit portfolio 4.847.019 99,99 38.979 100,00 4.885.998 100,00
Up to 3 months 381.292 17,96 – – 381.292 17,96
From 3 to 12 months 580.128 27,32 – – 580.128 27,32
From 1to 3 years 664.898 31,31 – – 664.898 31,31
From 3 to 5 years 471.887 22,51 – – 477.887 22.51
From 5 to 15 years 19.239 0,90 – – 19.239 0,90
Total guarantees provided and responsibilities 2.123.444 100,00 – – 2.123.444 100,00
Up to 3 months 167.688 21,31 – – 167.688 21,31
From 3 to 12 months 173.918 22,10 – – 173.918 22,10
From 1to 3 years 201.585 25,62 – – 201.585 25,62
From 3 to 5 years 211.240 26,85 – – 211.240 26.85
From 5 to 15 years 32.363 4,12 – – 32.363 4,12
Total securities with credit risk 786.794 100,00 – – 786.794 100,00
Total expanded portfolio 7.757.257 38.979 7.796.236

EE RETO
ET

Up to 3 months 1.369.941 27,41 1.603 411 1.371.544 27,23
From 3 to 12 months 1.883.264 37,68 37.376 95,89 1.920.640 38,13
From 1to 3 years 1.240.463 24,82 – – 1.240.463 24,62
From 3to 5 years 367.983 7,36 – – 367.983 7,30
From 5 to 15 years 136.986 2,73 – – 136.986 2,72
Total credit portfolio 4.998.637 100,00 38.979 100,00 5.037.616 100,00
Up to 3 months 381.292 17,96 – – 381.292 17,96
From 3 to 12 months 580.128 27,32 – – 580.128 27,32
From 1to 3 years 664.898 31,31 – – 664.898 31,31
From 3to 5 years 477.887 22,551 – – 477.887 22,51
From 5 to 15 years 19.239 0,90 – – 19.239 0,90
Total guarantees provided and responsi 2.123.444 100,00 – – 2.123.444 100,00
Up to 3 months 167.688 21,31 – – 167.688 21,31
From 3 to 12 months 173.918 22,10 – – 173.918 22,10
From 1to 3 years 201.585 25,62 – – 201.585 25,62
From 3to 5 years 211.240 26,85 – – 211.240 26,85
From 5 to 15 years 32.363 412 – – 32.363 412
Total securities with credit risk 786.794 100,00 – – 786.794 100,00
Total expanded portfolio 7.908.875 38.979 7.947.854

€) By economic activity sector:
Consolidated

3/31/2013 Eee
Sugar and ethanol -235.002 1.144.383 1.254.520 -166.457
Electric and renewable energy 1.013.354 1.039.048 1.013.354 1.039.048
Civil construction 936.536 907.379 952.561 925.388
Agriculture 609.849 665.999 630.669 689.671
Building and engineering – Infrastructure 558.089 504.045 569.768 523.177
Transportation and logístics 376.880 388.854 383.079 395.830
Metal products 325.700 350.883 331.578 350.883
Specialized services 494.673 344.351 499.377 356.212
Foreign trade 341.863 332.186 341.863 332.186
Vehicles and parts 272.211 235.522 272.211 242.934
Foodstufís 203.490 234.768 213.608 246.208
Mining 192.787 192.512 192.787 192.512
Chemical and petrochemical 205.939 158.890 205.939 158.890
Telecommunications 214,049 152.618 223.862 156.508
Financial institution 136.474 147.986 143.385 155.766
Hardware and home decor 147.089 136.037 152.364 148.696
Meat processing 169.522 130.581 169.522 130.581
Paper and pulp 64.958 111.674 64.958 111.674
Steel products 97.099 95.467 97.099 95.467
Beverages and tobacco 284.037 90.902 286.975 94.262
Information technology 36.912 62.587 36.912 62.537
individuals 49.585 53.340 49.585 53.340
Retall trade 61.234 51.299 61.234 51.299
Water and sanitation 34.280 42.901 34.279 42.901
Plastic and rubber 36.042 42.721 36.042 42.721
Textile and clothing 47.264 42.286 49.558 45.039
Medical services 38.923 39.224 38.923 39.224
Pharmaceuticals and cosmetics 20.586 23,757 20.586 23.757
Communications and printing 20.445 20.668 20.445 20.668
Mechanics 23,327 19.912 23.327 19.912
Electro Electronics 14,346 15.604 14.346 15.604
Wholesale trade 15.736 11.415 15.736 11.415
Leather and foowear 4.992 6.487 4.992 6.487
Total expanded portfolio 8.283.273 7.796.236 8.405.444 7.947.854

Página 21

(A free translation of the original in Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012
02056-7 BANCO PINE S/A 62.144.175/0001-20

Tn Pounds of12al, aceptan stare pics)

d) By risk level and allowance:

TEO ESTO TEO ESTO
AR 953.295 – 953.295 – 964.695 – 964.695 –
A 1.581.283 – 1.581.283 7.907 1.603.228 – 1.603.228 8.016
B 1.691.606 13 1.691.619 16.916 1.758.404 13 1.758.417 17.584
c 509.125 221 509.346 15.280 531.153 221 531.374 15.943
D 79.821 416 80.237 8.024 79.821 416 80.237 8.024
E 2.761 277 3.038 912 2.761 277 3.038 912
F 25.208 300 25.508 12.754 25.208 300 25.508 12.754
6 53.692 637 54.329 38.030 53.692 637 54.329 38.030
H 43.976 49.488 93.464 93.464 43.976 49.488 93.464 93.464
Total 4.940.767 51.352 4.992.119 193.287 5.062.938 51.352 5.114.290 194.727

ET
ETS Allowance 2682 TES EA

AR 928.420 – 928.420 – 941.386 – 941.386 –
A 1.361.232 – 1.361.232 6.806 1.386.003 – 1.386.003 6.930
B 1.910.667 171 1.910.838 19.108 2.007.566 171 2.007.737 20.076
c 424.530 1139 425.669 12.770 441.512 1139 442.651 13.280
D 76.198 41 76.239 7.624 76.198 41 76.239 7.624
E 6.582 885 7.467 2.240 6.582 885 7.467 2.240
F 26.430 452 26.882 13.441 26.430 452 26.882 13.441
6 70.540 11.420 81.960 57.372 70.540 11.420 81.960 57.372
H 42.420 24.871 67.291. 67.291. 42.420 24.871 67.291 67.291
Total 4.847.019 38.979 4.885.998 186.652 4.998.637 38.979 5.037.616 188.254

e) By concentration level

ESTE 12/31/2012 ETE]

xa xa ox

Largest borrowers EE PACA EEN PEC EEN PA ECTS

Largest borrower 181.934 2,20 198.469 2,55 211.177 2,51 198.469 2,50
2nd to 10th 1.342.146 16,20 1.216.552 15,60 1.342.146 15,97 1.216.552 15,31
115t to 20th 898.554 10,85 823.888 10,57 898.554 10,69 830.377 10,45
21stto SOth 1.656.860 20,00 1.584.935 20,33 1.656.861 19,71 1.584.936 19,94
51stto 100th 1.547.337 18,68 1516.952 19,46 1.547.337 18,41 1.516.952 19,09
Other borrowers 2.656.442 32,07 2.455.440 31,50 2.749.369 32,71 2.600.568 32,72

8.283.273 100,00 7.796.236 100,00 8.405.444 100,00 7.947.854 100,00

Total expanded portfol

Página 22

(A free translation of the original in Portuguese)

Bern

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012
02056-7 BANCO PINE S/A 62.144.175/0001-20

(a Pousands oÍ12al, eepL un Share pres)

1) Banco Pine’s total expanded credit portfolio concentration by activity sector:

Consolidated

3/31/2013 12/31/2013
Agricultural 96.788 107.391 124.043 107.391
Housing 31.289 27.811 31.289 27.811
Manufacturing 1.403.016 1.398.625 1.432.094 1.398.625
Commercial 197.122 188.500 202.354 188.500
Financial intermediation 124.697 99.188 131.609 99.188
Other services 6.203.538 5.773.549 6.257.232 5.925.167
Individuals 226.823 201.172 226.823 201.172
Total expanded portfolio 8.283.273 7.796.236 8.405.444 7.947.854
9) Change in the allowances for loan losses and other loan losses, in accordance with Resolution 2.682/99:

Individual
PERIS 3/31/2013 3/31/2012
Opening balance 186.652 173.070
Additions/Reversals 11.527 10.662
Amount written off (4.851) (2.565)
Exchange variation (1) (10)
Closing balance 193.287 181.157

GET

Details 3/31/2013, 3/81/2012
Opening balance 188.254 173.070
Addions/Reversals 11.365 10.662
Amountwritten off (4.851) (2.565)
Exchange variation (1) (10)
Closing balance 194.727 181.157

“Exchange variation on the alomance for loan losses (PDD) of he overseas branch, classified in the “Other operating expenses” Ine in the statement of operations.

h) Change in the provision for loan operations assigned with coobligation:

Individual and Consolidated
Details 3/31/2013 ETA
Opening balance 2 9.966
Reversal (mM (9.964)
Closing balance” 1 2

“resenedn “OMeriMamalar Note 28.0)
i) Credit assignments

For the period ended 31 March, 2013, loans were assigned without coobligation in the amount of R$5,559 to parties not related to the Institution (March 31, 2012 – R$ 55,490).
These assignments generated a loss in relation to their face value of R$ 5,509 (March 31,2012 – R$ 38,779), without discounting the allowance for loan losses in the amount of
RS 5,509 (March 31, 2012 – R$30,971). The results of the assignments are recorded in the “Other operating income/expenses” account. Additionally, contracts previously written
off with a loss of R$ 523 were transferred. These disposals generated a gain of R$ 50, recorded in “Loan Operations” . On March 31, 2013, there is no contracts previously
written off.

j) Credit recoveries

For the year ended March 31, 2013, credits previously written off as a loss were recovered in an amount of R$ 3,079 (March 31, 2012 – R$1,206) recorded in the “Loan
operations” account.

k) Renegotiation of contracts

At March 31, 2013, renegotiated contracts totaled R$127,718 (December 31, 2012 – R$ 130,152). The original ratings attributed to these contracts were maintained.

8. FOREIGN EXCHANGE PORTFOLIO

COMERTE

RNE

3/31/2013 ESTA 3/31/2013
Exchange purchases pending settlement 506.781 513.509 – –
Rights on exchange sales 40.947 54.018 – –
Income receivable 7.739 9.260 – “
Advances in local currency received – (53.991) – “
Exchange sales pending settlement – – 41.005 53.976
Liabilities for exchange purchases – – 506.433 503.436
Advances on foreign exchange contracts – – (473.616) (482.279)
Total 555.467 522.796 73.822 75.133

Página 23

(A free translation of the original in Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012
02056-7 BANCO PINE SIA. 62.144.175/0001-20

“Un ousands ol reals, exceptunk Share price)

9. OTHER RECEIVABLES – SUNDRY

a) Other receivables – Sundry

These comprise the following amounts:

3/81/2013

Advances and salary prepayments 486 – 486 205 – 205
Advances for payments on our behalf 5.178 – 5.178 5.004 – 5.004
Deferred tax assets (Note 9(b)) 80.529 160.985 141.514 87.217 55.835 143.052
Debtors for purchase of assets 31.833 85.104 116.937 29.937 84.183 114.120
Income tax available for offset 653 72.099 72.752 538 34.733 35.271
Amounts receivable from affliates 514 – 514 973 – 973
Notes and credits receivable 93.464 33.674 127.138 89.842 30.000 119.842
Sundry debtors – Country and abroad 3.461 – 3.461 3.003 – 3.003
Total 216.118 251.862 467.980 216.719 204.751 421.470

ESTE
0 pr 0
term p añ
Advances and salary prepayments 486 – 186 205 – 205
Advances for payments on our behalf 5.178 – 5.178 5.004 – 5.004
Deferred tax assets (Note 9(b)) 80.529 61.183 141.712 87.217 56.099 143.316
Debtors for purchase of assets 31.833 85.104 116.937 29.937 84.183 114.120
Income tax available for offset 653 73.760 74.413 856 35.623 36.479
Notes and credits receivable 93.464 33.674 127.138 89.842 30.000 119.842
Sundry debtors – Country and abroad 7.158 – 7.158 6.701 – 6.701
Total 219.301 253.721 473.022 219.762 205.905 425.667

b) Deferred tax assets

At March 31, 2013 and December 31, 2012, the deferred tax assets and deferred tax liabilities related to income tax (IRPJ) and social contribution on net income (CSLL) were
comprised as follows:

ESTE
Allowance for

loan losses 47.470 28.482 75.952 45.948 27.569 73517
Adjustment of available-for-sale securiies 3.344 2.007 5.351 214 129 343
Credits writen off to loss 14,501 8.700 23.201 14.437 8.662 23.099
Futures market – Law 11196 785 am 1.256 2.714 1.629 4343
Allowance for loss on loans

assigned with co-obligation – – – 1 – 1
Provision for taxrisks and

contingent liabilties 10.958 6.573 17.531 12.000 7.199 19.199
Provision for profit sharing 1.375 825 2.200 5.191 3.115 8.306
Provision for lawyers’ fees 2314 1.389 3.703 2.344 1.406 3.750
Provision for equity accounting loss abroad 2.686 1611 4.297 2.424 1455 3.879
Provision – FIDC – – – 401 240 641
Provision for Resolution 3921 2524 1515 4.039 1.244 747 1991
Provision for devaluation of assets 2.489 1.495 3.984 2.489 1.494 3.983
Total 88.446 53.068 141.514 89.407 53.645 143.052

ETE]
Allowance for

assigned with co-obligation – – – 1 – 1
Provision for taxrisks and

contingent liabilties 11.082 6.647 17.729 12.165 7.298 19.463
Provision for profit sharing 1.375 825 2.200 5.191 3.115 8.306
Provision for lawyers’ fees 2314 1.389 3.703 2.344 1.406 3.750
Provision for equity accounting loss abroad 2.686 1611 4.297 2.424 1455 3.879
Provision – FIDC – – – 401 240 641
Provision for Resolution 3921 2524 1515 4.039 1.244 747 1991
Provision for devaluation of assets 2.489 1.495 3.984 2.489 1.494 3.983
Total 88.570 53.142 141.712 89.572 53.744 143.316

Página 24

(A free translation of the original in Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012

02056-7 BANCO PINE SIA. 62.144.175/0001-20

“in thousands ol 1eals, except un share price)

3/31/2013

Mark-to-market adjustment of derivative
financial instruments

Adjustment of trading securities

Asset adjustment of judicial deposits

MTM trading shares

Total (Note 15.b)

PETRA

32.409 19.446
3.019 1.812
625 375
602 361
36.655 21.994

51.855 20.308 12.184 32.492
4.831 11.394 6.836 18.230
1.000 584 350 934

963 – – –
58.649 32.286 19.370 51.656

3/31/2013

Mark-to-market adjustment of derivative
financial instruments

Adjustment of trading securities

Asset adjustment of judicial deposits

MTM trading shares

Total (Note 15.b)

Changes in deferred tax assets and deferred tax liabilities

AA
Opening balance
Amount recorded
Reversal

Closing balance

Deferred tax liabil

Opening balance
Amount recorded
Reversal

Closing balance

Projected realization of deferred tax assets and deferred tax liabilities

32.409 19.447
3.019 1.812
644 386
602 361
36.674 22.006

51.856 20.308 12.184 32.492
4.831 11.394 6.836 18.230
1.030 602 361 963
963 – – –
58.680 32.304 19.381 51.685
Individual Consolidated

3/31/2013 ESTA EST ETA

143.052 141.870 143.316 142.001
25.326 163.930 25.381 164.425
(26.864) (162.748) (26.985) (163.110)
141.514 143.052 141.712 143.316
TY Consolidated

ESTE ETA ESTE 12/31/2012
51.656 46.517 51.685 46.540
23.277 107.362 23.314 107.700

(16.284) (102.223) (16.319) (102.555)
58.649 51.656 58.680 51.685

CATA

Up to 1 year
From 1to 2 years
From 2 to 3 years
From 3 to 4 years
From 4to 5 years
From 5 to 10 years
Total

50.330 30.199
9.721 5.833
6.895 4.137
5.078 3.047
2.586 1.552

13.836 8.300

88.446 53.068

80.529 150.330 20.199 80.529
15.554 9.721 5.833 15.554
11.032 6.895 4.137 11.032
8.125 5.078 3.047 8.125
4.138 2.586 1.552 4.138
22.136 13.960 8.374 22.334

141.514 88.570 53.142 141.712

Up to 1 year
From 1to 2 years
From 2 to 3 years
From 3 to 4 years
From 4to 5 years
From 5 to 10 years
Total

10. INVESTMENTS

a
Planejamento

16.115 9.670
3.121 1.873
4.887 2.932
6.985 4.191
3.447 2.068
2.100 1.260

36.655 21.994

25.785 16.115 9.670 25.785
4.994 3.121 1.873 4.994
7.819 4.887 2.932 7.819
11.176 6.985 4.191 11.176
5.515 3.447 2.068 5.515
3.360 2.119 1.272 3.391
58.649 36.674 22.006 58.680

Holding – %. 99,900
Number of shares held 10.000
Capital 10
Equity 11.407
Netincome (loss) 7.289
Investment amount 11.407
Equity in the results of investee 7.289

Pine Ass. em a
AS
UCA
10,00 99,998
10.000 892.298.000
60 13.385
50 38.805
a 731
3 38.805
wm 731

Página 25

TS a 0
pS ANS
OE

9,9999 99,998 99,998
77.399.000 500.000 500.000
77.400 500 500
81.228 35.188 235

798 (320) 1 8.496

81.228 35.188 235 166.866

798 (320) 1 8.498

(A free translation of the original in Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012

02056-7 BANCO PINE SIA. 62.144.175/0001-20

“in thousands ol 1eals, except un share price)

Pine

Investimentos

Holding – %. 99,9998
Number of shares held 892.298.000
Capital 13.385
Equity 34.662
Netincome (loss) 2.362
Investment amount 34.662
Equity in the results of investee 2.362

TAS

COCOS

100,00
77.400.000
77.400
80.728
133
80.728
133

Pine

Assessoria””

99,998
500.000
1

9.541
7.928
9.541
7.928

Pine

99,9998
500.000
1

618
606
618
606

11.029
125.549
11.029

de Energía Elétrica, 10% – the Insttuton.

Comercializadora de Energía Elética, 99.99% – the Institution.

11. PROPERTY AND EQUIPMENT AND INTANGIBLE ASSETS

a) Property and equipment in use

PA ESSE]

CTS CN
Facilities 20 10.546 (2.407)
Furniture and equipment in use 10 3.138 (1.519)
Communications system 10 1.426 (766)
Data processing system 10 1.135 (875)
Security system 10 32 (20)
Transport system 20 26.066 (1.920)
Total 42.343 (14.507)

PA Accumulated

CT CON
Facilities 20 10.690 (6.932)
Furniture and equipment in use 10 2.962 (1.459)
Communications system 10 1.426 (739)
Data processing system 10 921 (849)
Security system 10 31 (19)
Transport system 20 26.267 (1.333)
Total 42.297 (13.331)

b) Intangible assets

PA ESTA

Expense for acquisition and
development of software 10 9.448
Total 9.448

(7.616)
(7.616)

EST

PA
amorti

Expense for acquisition and
development of software 10 9.450
Total 9.450

(1.397)
(7.397)

12. DEPOSITS

a) Analysis by maturity:

Demand TS
TS CST AS

No stated maturity 126.446 –
Up to 30 days – 229.435
From 31 to 60 days – 284.229
From 61 to 90 days – 268.213
From 91 to 180 days – 340.528
From 181 to 360 days – 495.487
More than 360 days – 1.503.497
Total 126.446 3.121.389

Página 26

EE
Net
amount
1.139
1.619

660

260

24,146
27.836

ELE
3
amount
1.758
1.503

687

24,934
28.966

ELE

3
amount

1.832
1.832

EII
Net
ENS

2.053
2.053

ELE
Interbank

6.570
4.292
20.787
71.671
1.629
10.240
115.189

10.546
3.138
1.429
1.135

26.066

42.346

10.690
2.962
1.428
921
31
26.267

42.299

9.512
9.512

9.915
9.915

Demand

SS LT

ESTE
CT
(9.407)
(1.519)

(766)

(875)

(20)

(1.920)
(14.507)

TT]

(8.932)
(1.459)
(739)
(849)
(19)
(1.333)
(13.331)

TT]

(7.681)
(7.681)

ESTA

(7.862)
(7.862)

229.435
284.229
268.213
340.528
490.526
1.349.742
2.962.673

24,934
28.968

109.786

(A free translation of the original

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012

02056-7 BANCO PINE SIA.

“in thousands ol 1eals, except un share price)

Demand
OTIS deposits

ELE
Interbank

Demand Time
AS CO

No stated maturity 30.134 – – 30.053 – –
Up to 30 days – 296.206 32.749 – 283.819 32.749
From 31 to 60 days – 271.205 40.128 – 269.568 40.128
From 61 to 90 days – 416.556 10.282 – 412.695 10.282
From 91 to 180 days – 443.007 1,506 – 441.089 1,506
From 181 to 360 days – 332.480 24.267 – 332.261 24.267
More than 360 days – 1.555.997 21.221 – 1.428.511 12.068
Total 30.134 3.315.451 130.153 30.053 3.167.943 121.000

b) Analysis by market segment:

Manufacturing, commercial and

Demand
OTIS deposits

ELE
Interbank
CS

Demand
AS

services 125.638 900.884 – 125.638 900.884 –
Related companies ES 158.715 5.403 – – –
Individuals 725 16.595 – 725 16.594 –
Financial institutions and

investment funds – 2.045.195 109.786 – 2.045.195 109.786
Total 126.446 3.121.389 115.189 126.363 2.962.673 109.786

Manufacturing, commercial and

Demand
deposits

us
deposits

TETTJ
Interbank
deposits

DA
deposits

services 29.705 1.032.986 – 29.705 1.032.986 –
Related companies 81 147.508 9.153 “ – –
Individuals 348 16.445 – 348 16.445 –
Financial institutions and
Investment funds – 2.118.512 121.000 – 2.118.512 121.000
Total 30.134 3.315.451 130.153 30.053 3.167.943 121.000
13. FUNDS OBTAINED IN THE OPEN MARKET
Individual
3/31/2013 ETA
Own Portfolio
National Treasury Bills (LTN) 1.293.411 1.674.484
Federal Treasury Notes (NTN) 363.669 –
Debentures 160.868 158.177
Subtotal 1.717.948 1.832.661
Other Portfolios
Federal Treasury Notes (NTN) 101.447 –
Subtotal 101.447 –
Free Portfolio Movement
National Treasury Bills (LTN) 62.777 –
Federal Treasury Notes (NTN) 72.239 –
Subtotal 135.016 –
Total Open Market 1.954.411 1.832.661
Consolidated
3/81/2013 12/31/2012
Own Portfolio
National Treasury Bills (LTN) 1.293.411 1.674.484
Federal Treasury Notes (NTN) 363.669 –
Debentures 1.657.080 1.674.484
Subtotal
Other Portfolios
Federal Treasury Notes (NTN) 101.447 –
Debenture 60.868 158.177
Subtotal 162.315 158.177
Free Portfolio Movement
National Treasury Bills (LTN) 62.777 –
Federal Treasury Notes (NTN) 72.239 –
Subtotal 135.016 –
Total Open Market 1.954.411 1.832.661

14. INTERBANK ACCOUNTS – LOCAL CORRESPONDENTS

These comprise amounts received in advance related to installments of loan operations assigned with coobligation to be transferred to the assignees on the corresponding due
dates, recorded at the present value of the obligation on the base date, in the amount of R$163 at March 31, 2013 in the individual and consolidated (December 31, 2012 – R$37
in the individual and consolidated).

15. OTHER LIABILITIES
a) Collection and payment of taxes and similar:
At March 31, 2013, this balance consists of tax on financial transactions (1OF) payable in the amount of R$ 1,325 (December 31, 2012 – R$ 936).

b) Tax and social security contributions

Página 27

(A free translation of the original

Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012
02056-7 BANCO PINE SIA. 62.144.175/0001-20

“Un housands ol reals, exceptunk Share price)

ENEE

Taxes and contributions on

third-party services 128 – 128 128 – 128
Taxes and contributions on salaries 2.355 – 2.355 2.459 – 2.459
Income tax 36.121 – 36.121 38.120 – 38.120
Service tax (ISS) 425 – 425 926 – 926
Withholding income tax (IRRF) 1.005 – 1.005 1.083 – 1.083

340 – 340 718 – 718
Social Integration Program (PIS) and Social Contribution on Revenues (COFINS) payable
Provision for deferred income tax(IR) and social contribution (CS) (Note 9) 25.785 32.864 58.649 25.786 32.894 58.680
Provision for taxrisks (Note 16(b)) – 43.387 43.387 – 43.943 43.943
Total 66.159 76.251 142.410 69.220 76.837 146.057

ENEE

Taxes and contributions on

third-party services 220 – 220 220 – 220
Taxes and contributions on salaries 2.981. – 2.981. 3.106 – 3.106
Taxes and contributions on income. 6.911 – 6.911 10.409 – 10.409
Service tax (ISS) 425 – 425 562 – 562
IRRF 2.716 – 2.716 2.783 – 2.783
PIS and COFINS payable 340 – 340 480 – 480
Provision for deferred IR and CS (Note 9) 16.422 35.234 51.656 16.423 35.262 51.685
Provision for taxrisks (Note 16.b) – 42.056 42.056 – 42.591 42.591
Total 30.075 77.290 107.365 33.983 77.853 111.836

Página 28

(A free translation of the original in Portuguese)
FINE

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012

02056-7 BANCO PINE S/A. 62.144.175/0001-20

eE ri

e) Sundry

ETS pra ETS
term term term

Provision for personnel expenses 13.141 – 13.141 13.471 – 13.471
Cashiers checks 5.089 – 5.089 5.089 – 5.089
Provision for contingent

liabiliies- civil (Note 16.0) – 14.653 14.653 – 14.653 14.653
Provision for contingent

liabilies – labor (Note 16.d) – 3.323 3.323 – 3.354 3.354
Provision for losses – assignment

with coobligation (Note 28,a) 1 – 1 1 – 1
Other administrative expenses 2.713 9.257 11.970 2815 9.257 12.072
Accounts payable – – – – – –
Sundry creditors – local 1.150 – 1.150 1.243 – 1.243
Total 22.094 27.233 49.327 22.619 27.264 49.883

Provision for personnel expenses 27.582 – 27.582 27.829 – 27.829
Cashiers checks 4.916 – 4.916 4.916 – 4.916
Provision for contingent

liabiliies- civil (Note 16.0) – 18.298 18.298 – 18.298 18.298
Provision for contingent

liabilies – labor (Note 16.d) – 4.665 4.665 – 4.665 4.665
Provision for losses – assignment

with coobligation (Note 28,a) – 2 2 – 2 2
Provision for guarantees – 1.602 1.602 “ – –
Other administrative expenses 2.768 9.374 12.142 2.830 9.374 12.204
Sundry creditors – local 49 – 49 49 – 49
Capital subscription to be paid up 846 – 846 881 – 881
Total 36.161 33.941 70.102 36.505 32.339 68.844

16. CONTINGENT ASSETS AND LIABILITIES AND LEGAL OBLIGATIONS – TAX AND SOCIAL SECURITY CONTRIBUTIONS
a) Contingent assets

There were no contingent assets at March 31, 2013 and December 31, 2012.

b) Legal obligations – taxes and social security

These are legal and administrative processes related to tax and social security obligations. The main processes are as follows:

PIS: R$ 33,025 – Individual – R$33,574 – Consolidated (December 31, 2012 – R$32,011 – Individual – R$ 32,538 – Consolidated): the Institution and Pine Investimentos filed legal
proceedings designed to suspend the provisions of Article 3, paragraph 1, of Law 9718/1998, which changed the calculation basis of PIS and COFINS so that they are levied on
all corporate revenues. Prior to this rule, suspended in innumerous recent decisions by the Federal Supreme Court, only revenues derived from services rendered and the sale of
merchandise were liable to this tax. The injunction filed by Banco Pine received a partially favorable ruling and the appeal lodged by the Federal Govemment was dismissed.
Currently awaiting judgment of the admissibility of the Special and Extraordinary Appeals filed by the Federal Government.

COFINS: In November 2005, the Federal Supreme Court (STF) judged as unconstitutional paragraph 1 of Article 3, of Law 9718/98, which introduced the new calculation base for
COFINS determination purposes from February 1999, broadening the concept of revenue. Accordingly, the calculation base of COFINS was decreased and gave rise to the
unquestionable right to recover the amount of overpaid tax. The injunction filed against the Federal Government by the Institution claiming the right to offset the refund of the
incorrectly paid amount of COFINS against other current taxes was successful.

Based on the decision of May 21, 2010 which rejected the two extraordinary appeals lodged by the Federal Government, an interlocutory appeal for writ of certiorari on
extraordinary appeal was filed. Upon referral to the Federal Supreme Court, the Chief Justice referred the case records to the Court of origin, on the grounds of Article 543-B of
the Code of Civil Procedures, considering the analysis of the General Repercussion already issued through Special Appeal RE 585235.Subsequently, on May 18, 2011, the
interlocutory appeal was dismissed and the Federal Government filed petitions seeking clarification of the decision, claiming that a material error had occurred in respect of the
aforementioned RE and indicating that RE 609096 was correct. The petitions for clarification were dismissed. Further, as a result of this sentence, a special appeal was lodged
for the same purpose. The Deputy Chief Judge of the Regional Federal Court of the 3rd Region received the special appeal as a request for reconsideration and upheld the
appealed sentence. Notified of this decision, the Federal Government lodged no further appeal. The final ruling was handed down on October 21, 2011 and certified on November
8.2011

In this respect, the Institution will file a request for proof of claim at the Brazilian Federal Revenue authority (RFB), regarding COFINS which was overpaid during the period from
June 2000 to April 2005, in the historical amount of R$15,679 in the Institution and R$ 15,872 on a Consolidated basis, which adjusted for inflation, based on the variation in the
SELIC rate up to March 31, 2013, totaled R$34,747 (December 31, 2012 -R$ 34,490) in the Institution and R$35,180 (December 31, 2012 -R$ 34,919) on a Consolidated basis.
Based on the final and unappealable sentence and the administrative procedure filed at the RFB, a corresponding tax credit was recognized in “Other receivables – Tax
recoverable”, as a counter entry to the “Other operating income” account.

The amounts of the legal obligations and respective judicial deposits are presented as follows:

Social integration program 32.025 33.024 31.927 33.574 32.538 32.452
(PIS)

Social contribution on revenues(( – – 162.134 160.295 – – 163.047 161.197
Total 32.025 32.011 195.158 192.222 33.574 32.538 196.616 193.649

Página 29

(A free translation of the original in Portuguese)

Bern

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012
02056-7 BANCO PINE SIA. 62.144.175/0001-20

“Un ousands ol reals, exceptunk Share price)

€) Contingencies classified as probable are generally provided for and for the period ended March 31, 2013 and December 31, 2012 are comprised as follows:

Individual E
a Judicial deposits
3/81/2013 ESTE
Tax contingencies 11.362 10.045 2.091 2.076 10.369 10.053 2.366 2.347
Labor contingencies 3.323 4.665 545 536 3.354 4.665 545 536
Civil contingencies 14.653 18.298 2.374 2.657 14.653 18.298 2.374 2.657
Total 29.338 33.008 5.010 5.269 28.376 33.016 5.285 5.540

d) Activity in liability provisions

3/81/2013
Opening balance 42.056 4.665 18.298 65.019 29.197 7.124 16.025 52.346
Amount recorded (reversed) 748 (1.406) (4.009) (4.667) 10.991 (2.980) 1.294 9.305
Adjustments 583 64 364 1011 1.868 521 979 3.368
Closing balance 43.387 3.323 14.653 61.363 42.056 4.665 18.298 65.019

Opening balance 42.591 4.665 18.298 65.554 29.574 7.124 16.025 52.723
Amount recorded (reversed) 762 (1.376) (4.009) (4.623) 11.116 (2.980) 1.294 9.430
Adjustments 590 65 364 1.019 1.901 521 979 3.401
Closing balance 43.943 3.354 14.653 61.950 42.591 4.665 18.298 65.554

€) We present below the main suits and proceedings for which the likelihood of loss is considered possible:

Labor: At March 31, 2013 and December 31, 2012, the Institution had no labor claims classified as possible.
Civil: At March 31, 2013 and December 31, 2012, the Institution had no civil claims classified as possible.

17. BORROWINGS AND ONLENDINGS

0 ET EN From 3 to From 5 to

EOS AO EE ES 15 years
Local onlendings – official institutions 136.330 146.945 348.573 124.971 102.067 858.886
Foreign onlendings 10.165 – – – – 10.165
Foreign borrowings 386.651 450.113 – – 60.414 897.178
Total 533.146 597.058 348.573 124.971 162.481 1.766.229

Consolidated

y ENS From 1to EN E

ES AO O Ea ES
Local borrowings – other institutions’” – – 92.371 – – 92.371
Local onlendings – official institutions – BNDES 136.330 146.945 348.573 124.971 102.067 858.886
Foreign onlendings 10.65 – – – – 10.165
Foreign borrowings 386.651 450.113 – – 60.414 897.178
Total 533.146 597.058 440.944 124.971 162.481 1.858.600

Y From 3 to From 1to EN ET
ES O O O ES

Local onlendings – official institutions – BNDES 70.958 251.418 330.475 132.022 107.435 892.308

Foreign onlendings – 10.236 – – – 10.236

Foreign borrowings 389.617 503.245 – – 61.305 954.167

Total 460.575 764.899 330.475 132.022 168.740 1.856.711

Consolidated

Up to ETA From 1to EN E

ES AO O Ea 15 years
Local borrowings – other institutions’” – – – 118.735 – 118.735
Local onlendings – official institutions – BNDES 70.958 251.418 330.475 132.022 107.435 892.308
Foreign onlendings – 10.236 – – – 10.236
Foreign borrowings 389.617 503.245 – – 61.305 954.167
Total 460.575 764.899 330.475 250.757 168.740 1.975.446

“7 Ar March 31, 2013, RS92,371 (December 31, 2012 – RS 118.735) comprises the amount of the senior shares of FIDC.
18. FUNDS FROM ACCEPTANCE AND ISSUANCE OF SECURITIES

a) Funds from acceptance

CITE NRT

0 From 3 to From 1to From 3 to From 5 to
ES AO O ES 15 years

Real estate letters of credit – LCI 4.931 2.768 – – – 8.699

Agríbusiness letters of credit (LCA) 169.227 140.185 3.995 – – 313.407

Financial Bills (LF) – 1.122 574.030 8.827 7.764 591.743

Total 174.158 145.075 578.025 8.827 7.164 913.849

Página 30

(A free translation of the original in Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES
NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012

02056-7 BANCO PINE SIA. 62.144.175/0001-20
“Un housands ol reals, exceptunk Share price)

Up to From 3 to E From 3 to TY
EOS AO O ES 15 years

Real estate letters of credit – LC! 2.236 9.729 – –

Agribusiness letters of credit (LCA) 285.197 92.171 7.830 – – 385.198

Financial Bills (LF) – 1.101 562.941 8.529 1.694, 574,265

Total 287.433 103.001 570.771 8.529 1.694 971.428

b) Securities issued abroad

These are funds obtained through the global fixed-rate note program which, at March 31, 2013, amount to R$240, 606 (December 31, 2011 – R$ 312,268), maturing up to 2022
and interest of up to 8.75% per annum plus LIBOR and exchange variation, and working capital in the amount of R$8,306 (December 31, 2012 – R$8,367) maturing up to 2014.

We present below an analysis of the tranches and balances adjusted at the balance sheet dates:

COTE

Currency ES EJ
CEMENTOS of issuance ES maturity 313112013 ERSTAGe
4.091 US$ 20%aa+Libor Jun/2014 8.306 8.367
8.000 US$ 185% a.a+ Libor Novi2014 16.266 16.391
9.394 US$ 20%aa+Libor Oc2013 14.258 19.295
1.044 US$ 87%aa+ Libor Jan/2017 2.146 2.226
39.333 US$ 30%aa+ Libor Jan/2014 12.167 81.616
25.000 US$ 42%aa+Libor Apr/2022 51.508 51.555
73.000 CLP 6.0% aa+ Var.UF Dec/2017 144.261 141.185
Total 248.912 320.635
Current (44.513) (109.159)
Total long-term liabilities 204,399 211.476

The Institution is required to comply with certain financial covenants related to the maintenance of specific performance, liquidity and debt ratios tied to financing agreements in
the amount of R$14,258 (FMO-Nederlandse Financierings Maatschappij Voor Ontwi-The Hague), which if not met could cause settlement to be accelerated. Furthermore, the
Institution has lines with certain multilateral bodies (IFC – International Finance Corporation and IDB – Inter-American Development Bank) which guarantee the Institution’s loans in
the amount of US$100,000 (R$201,380 based on the US dollar ptax rate at March 31, 2013). At March 31, 2013, Banco Pine was using the amount of US$36,918 (R$74,345
based on the US dollar exchange ptax rate at March 31, 2013), and was compliant with the performance indexes.

19. SUBORDINATED DEBT

COMENTA

15 Amount CTO 3131/2013 ETA
Fixed rate notes Public 1/6/2017 US$125,000 8,75% aa 257.452 267.705
Financial bills Private 12/6/2021 R$45,152 119,4% do CDI 50.537 49.567
Total 307.989 317.272
20. EQUITY

a) Capital

Subscribed and paid-up capital totals R$967,259 and comprises 110,842,313 (December 31, 2012 – 108,631,100) nominative shares, of which 58,444,889 are common shares
and 52,397,424 (December 31, 2012 – 50,186,211) are preferred shares with no par value. The Institution is authorized to increase its capital, without the necessity of any
amendment to the bylaws, by up to a further 10,000,000 common or preferred shares, all of which shall be nominative, book-entry and with no par value, by decision of the
Board of Directors.

As deliberated at a meeting of the Board of Directors held on February 4, 2013 and approved by the Central Bank on April 19, 2013, the capital increase in the amount of
R$31,576 through the issue of 2,211,213 shares, with 2,100,839 (1,887,605 to Societe DE Promotion ET DE Participation Pour LA Cooperation Economique S.A. – PROPARCO
(PROPARCO”) and 323,608 to other shareholder, nominative preferred shares, from R$935,683 to R$967,259, divided into 110,842,313 nominative shares, of which
R$58,444,889 are common shares and 52,397,424 are preferred shares, with no par value. This value of capital increasing is registered in stockholders equity, on initial”Capital
Increase”.

As deliberated at a meeting of the Board of Directors held on September 25, 2012 and approved by the Central Bank on November 12, 2012, the capital increase in the amount
of R$139,635 through the issue of 3,220,203 shares, with 2,100,839 to shareholder DEG – Deutsche Investitions und Entwicklungsgesellschaft mbH (“DEG”) and 1,119,364 to
other shareholders, nominative preferred shares and 6,558,123 nominative common shares to the controlling shareholder, from R$796,048 to R$935,683, divided into
108,631,100 nominative shares, of which R$58,444,889 are common shares and 50,186,211 are preferred shares, with no par value.

b) Capital reserve

The capital reserve, pursuant to the provisions of Law 11638/07, may only be used to (¡) absorb losses which are in excess of retained eamings and the revenue reserves: (i)
increase capital; (ii) cancel treasury shares; and (iv) pay dividends on preferred shares provided that they are entitled to this benefit.

€) Revenue reserve

The Institution’s revenue reserve comprises legal and statutory reserves. The balance of the revenue reserves may not exceed the Institution’s capital, and any excess must be
capitalized or distributed as dividends. The Institution has no other revenue reserves.

Legal reserve – Pursuant to Law 11638/07 and the bylaws, the Institution must appropriate 5% of its net income for each year to the legal reserve. The legal reserve shall not
exceed 20% of the Bank’s paid-up capital. However, the Institution may choose not to appropriate a portion of its net income to the legal reserve for the year in which the balance
of this reserve plus the capital reserves, exceeds 30% of its capital.

Statutory reserve – Pursuant to Law 11638/07, the bylaws may constitute other reserves, provided that their purpose, the percentage of net income to be appropriated thereto and
the maximum amount to be maintained in each such reserve is specified. The appropriation of funds to these reserves should not be approved to the detriment of the mandatory
dividend. The Institution recorded a statutory reserve of 100% of its net income, in the amount of R$13,277, after the appropriation of 5% to the legal reserve of R$2,278, the
deduction of the payment of interest on own capital of R$14,977 and dividends in the amount of R$15,023 to maintain the Institution’s operating margin compatible with its asset
transaction.

Página 31

(A free translation of the original in Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012
02056-7 BANCO PINE S/A 62.144.175/0001-20

Tn Pousands oÍ1eal, except un stare pres)

d) Dividends and interest on own capital

Stockholders are entitled to a minimum dividend of 25% of annual net income, adjusted pursuant to Brazilian corporate legislation, subject to the approval of the General Meeting
of stockholders.

In accordance with the provisions of Law 9249/95, of December 26, 1995, interest on own capital was accrued, calculated based on the variation in TJLP for the period. This
interest on own capital decreased the expense for income tax and social contribution for the period ended March 31, 2013 by R$5,991 ( March 31, 2012 – R$5,958).

We present below the approved dividends and interest on own capital for the net income of period:
Netof

withholding tax – Net of withholding
PTOS TS

Gross amount per

PETT AS Payment Date

Total gross amount

Interest on own capital 3/21/2013 4/10/2013 0,1389 14.977 0,1181 12.730
Dividends 3/21/2013 ano/2013 0,1393 15.023 – –

In accordance with Letter Circular 3516, the proposed additional dividend in excess of the minimum dividend, in the amount of R$19,185 (December 31, 2012 – R$ R$18,559) is
classified in a specific equity account.

We present below the reconciliation of dividends and interest on own capital for the periods ended March 31, 2013 and December 31, 2012:

3/31/2012

Net income 45.555 46.560
Legal reserve (2.278) (2.328)
Calculation base 43.277 44.232
Interest on capital 14.977 14.895
Withholding tax – IRRF (15%) (2.247) (2.234)
Prepaid dividends 15.023 105
Amount proposed 27.753 12.766
9% of calculation base 64,13% 28,86%

e) Treasury shares

At a meeting of the Board of Directors on September 16, 2011,the acquisition of selfissued shares of Pine was authorized for up to 2,154,011 preference shares to be held in
treasury for subsequent sale, as well as payment of variable remuneration for the statutory directors of the Bank in agreement with the terms of Resolution 3.921/11, without
reducing equity. It was repurchased 713,395 shares in the amount of R $ 9,588 at an average cost of 13.44. The authorisation prevailed until August 31, 2012.

At a meeting of the Board of Directors on December 6, 2012, the acquisition of self-issued shares of Pine was authorized for up 1,219,659 preference shares, to be held in
treasury for subsequent sale, as well as payment of variable remuneration for the statutory directors of the Bank in accordance with the terms of Resolution 3.921/11, without
reducing equity. This plan have already been repurchased 738,500 shares in the amount of R$ 9,573 with an cost of 12.96. Authorization for issue can be granted until December
5, 2013.

During the first quarter of 2013, Pine transferred 334,550 preferred shares of its own issuance, which were held in treasury, for the Board of Directors as variable remuneration in
accordance with Resolution 3.9211/11 in the amount of R$ 4,767 with an average cost of R$ 14.25.

At March 31, 2012 the bank had 806,996 preferred shares on treasury of its own issuance in the amount of R$ 9,993. The market value of these shares corresponded to R$
11,653 (R$ 14,923 – December 31, 2012).

f) Carrying value adjustments

ENANA

ESTE 3131/2012
Avai “sale financial assets (13.377) 390
Debt instruments (13.377) 390
Cash flow hedge – 6.085
Hedged item – (2.079)
Hedging instrument – 8.164
Other 7 87
Income tax 5.351 (2.590)
Total (7.949) 3.972

21. STATEMENT OF OPERATIONS

a) Loan operations

Individual E
ESTE E ESTE] 3/31/2012
Advance to depositors 89 188 89 188
Loans 66.488 93.284 70.916 104.402
Profit Transfer Credit 974 – 974 –
Discounted bills – 107 – 107
Financing 36.086 30.419 35.973 30.419
Financing – foreign currency 2569 3,515 2.569 3.515
Total 106.206 127.513 110.521 138.631
b) Results of securities
Y Consolidated
ESTE E ESTE 31/38/2012
Fixed-income securities (FIDC) 643 5.082 – –
Expense for fixed+income securities 91.938 137.099 93.898 138.615
Variable-income securities (85.136) (1.313) (85.138) (1.324)
Expense for variable-income securities (991) (780) (991) (780)
Total 56.454 140.088 57.769 136.511

Página 32

(A free translation of the original in Portuguese)

Bern

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012
02056-7 BANCO PINE SIA. 62.144.175/0001-20

“Un ousands ol reals, exceptunk Share price)

Cc) Funds obtained in the market

Individual E
ESTE E ESTE] 3/31/2012
Expenses for interbank deposits 1.889 4.249 1.744 2.739
Expenses for time deposits 67.004 92.588 64.432 89.968
Expenses for purchase and sale commitments 23,327 51.611 24.917 51.611
Expenses for securities issued abroad 6.052 (9.480) 6.052 (9.480)
Expenses for contribution to credit guarantee fund 4.188 4.641 4.188 4.641
Expenses for agribusiness letters of credit 5.058 7.854 5.058 7.854
Expenses for financial bills 12.465 1951 12.465 1.951
Expenses for real estate letters of credit 172 212 172 212
Total 120.155 153.626 119.028 150.496
d) Borrowings and onlendings
EJ Consolidated
ESTE E ESTE ET
Expenses for onlendings (BNDES) 8.983 9.712 8.983 9.712
Expenses for foreign onlendings – Resolution 3844 78 1.139 78 1.139
Expenses for payables to foreign bankers 301 (9.821) 301 (9.821)
Expenses for local loans – FIDC – – 2.232 6.921
Expenses for foreign borrowings 522 908 522 908
Total 9.884 1.938 12.116 8.859
e) Income from services rendered
Individual ET]
3/31/2013 3131/2012 3/31/2013 3131/2012
Credit facility fee 16.559 5.654 6.559 5.654
Commission for guarantees 8.005 6.800 8.005 6.800
Commission for intermediary services 3.394 – 14.773 16.468
Other 8 1.293 102 1.383
Total 17.966 13.747 29.439 30.305
f) Personnel expenses
Individual E
ESTE E ESTE] 3/31/2012
Salaries 14.044 13.637 14.616 14.238
Benefits 2.128 1.860 2212 1.901
Social charges 4.933 5.042 5.135 5.250
Directors’ fees 244 180 248 184
Training 61 179 62 180
Interns 104 108 115 114
Total 21514 21.006 22.388 21.867
9) Other administrative expenses
Individual E
ESTE E ESTE] 3/31/2012
Water, electricity and gas 140 101 142 104
Rents 2:01 1891 2131 1.942
Leased assets 242 792 242 792
Communications 938 937 938 938
Charitable contributions 18 – 18 –
Maintenance and repair of assets 552 373 553 374
Material 41 42 41 42
Data processing 2.304 2279 2316 2.292
Promotions and public relations 206 476 207 477
Advertising and publicity 312 472 312 472
Publications 446 442 500 445
Insurance 9 42 9 4%
Financial system services 3.807 2.498 3.876 2.685
Third-pany services 939 1.406 986 15535
Surveillance and security 1.198 517 1.198 517
Specialized technical services 3.824 2.458 3.878 2.475
Transportation 367 475 371 480
Travel 483 535 531 547
Other administrative expenses 3.798 2.635 3.851 2.671
Amortization and depreciation 1,525 976 1,525 1.003
Total 23.250 19.347 23.625 19.835
h) Tax expenses
EJ Consolidated
ESTE E ESTE ET
Service tax (ISS) 929 737 1.504 1571
Social contribution on revenues(COFINS) 743 590 1131 1.172
Social integration program (PIS) 622 890 707 1.008
Other 150 351 157 356
Total 2.444 2.568 3.499 4.107

Página 33

(A free translation of the original in Portuguese)

CJ Consolidated
3/31/2013 3/31/2012 3/31/2013 3/31/2012
Recovery of charges and expenses 224 117 429 114
Indexation 700 1011 714 1.030
Reversal of provision for transfer of assignments – 317 – 317
Reversal of provision for credit assignment with coobligation – 1845 – 1.845
Reversal of provision for guarantees – 15.178 – 15.178
Indexation of judicial deposits 1.839 2.860 1.850 2.876
Reversal of labor proceedings 1,539 – 1539 –
Reversal of provision for labor risks 75 – 75 –
Reversal of civil process 3.444 – 3.444 –
Reversal of provision for FIDC 1.602 – 1.602 –
Other operational income 997 3.923 277 1.300
Income of securities and receivables – 141 – –
Total 10.620 25.392 9.930 22.660
j) Other operating expenses
CJ Consolidated
3/31/2013 3/31/2012 3/31/2013 3/31/2012
Provision for labor and civil proceedings 258 1.330 288 1.330
Indexation of taxes and contributions 831 472 831 472
Reversal/provision for transfer of assignments – 174 – 174
Expenses for assignment ‘” 5.515 38.860 5.515 38.860
Provision for credit assignment with coobligation – 2.197 – 2.197
Interest on equity reserve – 14.895 – 14.895
Other operating expenses 2.627 210 2.730 312
Total 9.231 58.138 9.364 58.240

(1 R$5,509 (R$ 38,879 on March 31, 2013) comprises losses for loan assignments with coobligation, as described in Note 7. 1)
k) Non-operating results

For the year ended March 31, 2013, the amount of R$ R$2,292 in the Individual and in the Consolidated (March 31,2012 – R$3,316 Individual and R$ 3,308 Consolidated)
corresponds mainly to the sale of assets received as payment in kind for the setlement of loan transactions,

22. INCOME TAX AND SOCIAL CONTRIBUTION

Reconciliation of expenses for income tax and social contribution on net income:

Y Consolidated
ESTE E ESTE 3/81/2012
Income before income tax (IRPJ) and social contribution (CSLL)
and less profit sharing 62.330 62.449 64.538 65.252
Interest on capital (14.977) (14.895) (14,977) (14.895)
Result before taxes on income 47.353 47.554 49.561 50.357
Currentrate 40% 40% 40% 40%
Projected expense for IRPJ and CSLL, based on current taxrate (18.941) (19.022) (19.824) (20.143)
Temporary differences 15.104 10.796 15.171 10.779
Effects of income tax and social contribution on temporary differences (15.422) (10.887) (15.489) (10.870)
Other adjustments 2.484 3.223 1.159 1542
Income tax and social contribution (16.775) (15.889) (18.983) (18.692)
Comprising:
Current taxes (1.353) (5.002) (2.494) (7.822)
Deferred taxes (15.422) (10.887) (15.489) (10.870)
Expense recognized (16.775) (15.889) (18.983) (18.692)

23. RELATED-PARTY TRANSACTIONS
a) Management compensation

For the year ended December 31, 2012, the Institution approved the new Compensation Plan which addresses the standards and guidelines for the payment of fixed and variable
compensation applicable to the members of the Board of Directors and statutory directors and, at the discretion of the specific committee, other executive officers with important
positions and functions, in accordance with the provisions of Resolution 3921/10, of the National Monetary Council.

The new Plan has the following main objectives: (i) alignment of the Institution’s executive compensation practices in relation to its risk management policy; (ii) prevention of
conduct that increases risk exposure to levels above those considered prudent in the short, medium and long-term strategies adopted by the Institution; (ij) creation of an
instrument designed to retain and attract talent for the Institution’s key positions; and (iv) adaptation of the compensation policy to meet the requirements of Resolution 3921/10.

The compensation defined in the Plan takes the following into consideration: () the Institution’s current and potential risks; (i) the Institution’s overall result, in particular, recurring
realized income (net book income for the period adjusted based on unrealized results and free of the effects of controllable non-recurring events); (ii) capacity to generate cash
flows; (iv) the economic environment in which the Institution operates and its related trends; (v) long-term sustainable financial bases and adjustments to future payments, based
on the risks assumed, fluctuation in capital costs and liquidity projections; (vi) the individual performance of the Directors based on the target agreements entered into by each
director as established in the PLR and filed in the Institution’s head office; (vii) the performance of the business unit; and (viii) the relation between the Directors’ individual
performance, the business unit performance and the Institutior’s overall performance.

Variable compensation is calculated as follows:

a) up to 50% of the amount established for variable compensation is paid in kind, at the same time as the payment of Profit Sharing (PLR).

b) an amount corresponding to 10% of that established for variable compensation shall be paid in preferred shares of the Institution at the same time as the PLR payment.

Página 34

(A free translation of the original in Portuguese)

FINE
BANCO PINE S.A. AND SUBSIDIARIES
NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012
02056-7 BANCO PINE S/A 62.144.175/0001-20
eE ra
e) an amount corresponding to the remaining 40% of variable remuneration will be paid in preferred shares of the Institution and will be granted to the employee at the same time
as the payment of the amount in kind. The right to dispose of these shares will be on a “Deferred” basis, increasing in line with the level of responsibility of the Director.

The delivery of the shares related to deferred variable compensation attributable to the Directors will only occur if none of the following are verified during the applicable deferral
period: (1) a significant decrease in realized recurring income;(ii) loss in the Institution or business unit, or (ii) verification of errors in accounting and/or administrative procedures
which affect the results determined during the vesting period of the right to variable compensation.

The Institution’s Compensation Committee, approved at the general meeting held on January 16, 2012, will be responsible for (i) presenting proposals to the board of directors
regarding the various forms of fixed and variable compensation, as well as benefits and the special recruitment and termination programs; (ii) monitoring the implementation and
operation of the Institutions management compensation policy; (ii) reviewing annually the Institutior’s directors compensation policy, recommending adjustments or
improvements to the board of directors; (iv) recommending to the board of directors the total amount of the directors’ compensation to be submitted to the general meeting, in
accordance with Article 152 of Brazilian Corporation Law; (v) evaluating future internal and external scenarios and their possible impact on the directors’ compensation policy; (vi)
analyzing the Institution’s directors’ compensation policy in relation to market practices, to identify significant differences as compared to peer companies, proposing necessary
adjustments; (vii) ensuring that the directors’ compensation policy is permanently in line with the risk management policy, the Institutior’s current and expected financial position
and the provisions of this resolution; and (vii) preparing annually, within a period of ninety days as from December 31, of each year, a Compensation Committee Report, as
required by National Monetary Council Resolution 3921/10.

For the quarter ended March 31,2013, variable remuneration was determined in the amount of R$6,545, in accordance with the criteria defined in the new plan.

COTE

Salaries and Fees of the Board of Directors and Executive Board ESTE ET
Fixed compensation 2.173 1.940
Variable compensation 6.571 11.036
Other 984 485
Total 9.728 13.461

Short-term benefits paid to directors mainly comprise salaries and social security contributions, paid leave and sick pay, profit sharing and bonuses (when payable within twelve
months subsequent to the year-end closing) and non-monetary benefits (such as health care and free or subsidized goods or services).

Employment agreement termination

The employment agreements are valid for an indefinite period. Officers are not entitled to any financial compensation when the employment relationship is terminated voluntarily
or due to the non-fulfiliment of his/her obligations. If the employment agreement is terminated by the Institution, the officer may receive indemnification. At March 31, 2013,
compensation in the amount of R$329 was paid to officers who left the Institution as compensation (R$ 814 – March 31, 2012).

b) Related parties

The related-party transactions mainly with the companies listed in Note 2, are carried out at the average amounts, terms and rates evidenced in the market, effective on the
corresponding dates with commutative conditions and comprise the following:

EAT ETA

3/31/2013 3/31/2012 3/31/2013 3/31/2012
Marketable securities 44.867 110.296 643 5.082
Pine Crédito Privado – FIDC 44.867 110.296 643 5.082
Demand deposits 12 13 – –
Pine Investimentos 50 68 – “
Pine Comercializadora de Energia Elétrica 4 13 – “
Pine Corretora 5 3 – “
Pine Assessoria 5 12 – “
Pine Assesoria em Comercializacáo de Energía 10 – – “
Pine Planejamento Lida 9 – – “
Directors and immediate family” 29 27 – –
Interbank deposits 5.403 14.588 (144) (510)
Pine Investimentos 5.403 14.588 (144) (510)
Time deposits 174.955 124.303 (8.513) (2.732)
Pine Investimentos 28.426 16.762 (464) (368)
Pine Comercializadora de Energia Elétrica 81171 81.287 (1.413) (2.142)
Pine Corretora 224 713 (a) (19)
Pine Assessoria 35.499 10.305 (601) (91)
Pine Planejamento Lida 13.355 – (90) –
Directors and immediate family” 40 – – –
“Tnese amounts are not consoldated. 16.240 15.236 (941) (112)

e) Capital ownership

The following table presents the direct investment in common and preferred shares, at March 31, 2013 and December 31, 2012, of stockholders with more than five percent of
total shares and of members of the Board of Directors and Executive Board.

Common Common Preferred Preferred Total EJ
ES shares(%) AS E) shares shares(%)
Individuals 58.444.889 100,00 15.395.863 20,68 73.840.752 67,97
Board of Directors – – 3.218.179 6,41 3.218.179 2,96
Executive officers – – 2.856.314 5,69 2.856.314 2,63
Total 58.444.889 100,00 21.470.356 42,78 79.915.245 73,56

(A Common Preferred
ES shares(%) shares
Individuals 58.444.889 100,00 15.595.863
Board of Directors – – 3.281.010
Executive officers – – 2.635.774
Total 58.444.889 100,00 21.512.647

Página 35

EE REY REY
EE shares ESO)

31,08 74.040.752 68,16

6554 3.281.010 3,02

5,25 2.635.774 2,39

42,87 79.957.536 73,57

(A free translation of the original in Portuguese)
FINE

BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012

02056-7 BANCO PINE S/A 62.144.175/0001-20

nes ceci

24. COMMITMENTS, GUARANTEES AND OTHER INFORMATION

3131/2013 TEA

Sureties and guarantees 2.500.459 2.114.296
Credit assignment with co-obligation 209 334
Letter of credit 120.446 8.814
Total 2.621.114 2.123.444

25. EMPLOYEE BENEFITS

The Institution makes monthly contributions to a private pension company for VGBL and PGBL plans, at the option of the participant, in an amount equivalent to 1% of the
employee’s gross salary, provided that the employee also contributes at least 1% of his/her gross salary, to supplement their social security benefits, as part of a defined
contribution plan, and this ¡s the sole responsibility of the Institution as sponsor.
For the period ended March 31, 2013 totaled R$ 95 (March 31, 2012 – R$ 81).

26. PROFIT SHARING PROGRAM

Banco Pine has a profit sharing program (PPLR) ratified by the Bank Employees’ Trade Union.

27. RISK AND CAPITAL MANAGEMENT
a) Introduction and overview

Banco Pine is exposed to risks resulting from the use of financial instruments which are continuously measured and monitored and has an analysis structure made up of a board
of directors, a council and a committee that assess the following risks:

Credit risk
Liquidity risk

Market risks
Operational risks

Risk management framework

The Board of Directors is responsible for identifying and controlling risks; however, there are other independent areas which are also responsible for managing and
monitoring risks.

b) Credit risk
Definition

Credit risk is the exposure to loss in the case of total or partial default of customers or counterparties in fulfiling their financial obligations with the Institution. Credit

risk management seeks to support the definition of strategies, in addition to establishing limits, including an analysis of exposure and trends, as well as the effectiveness of the
credit policy.

Credit risk management

Duties:

+ Formulate Credit Policies with all of the Institution’s units, including collateral requirements, credit assessment, risk rating and presentation of reports, legal and
documentary procedures, as well as compliance with regulatory and statutory requirements.
+ Establish the structure for approval and renewal of Credit lines. Limits are established and approved by the Credit Committee.

+ Revise and assess Credit risk. The Credit area evaluates all credit exposure which exceeds established limits, prior to the release of the credit lines to the
customers by the related business unit. Renewals and revisions of credit lines are subject to the same review process.

+ Limit concentration of exposure by counterparties, geographic regions and economic sectors, and by credit rating, market liquidity and country.

+ Develop and maintain the Institution’s risk classification to categorize exposure according to the degree of risk of financial loss and focus management on inherent
risk. The risk classification system is used to calculate credit exposure. The current risk classification structure includes degrees of credit risk and availability of
guarantees or other tools to mitigate credit risk.

+ Offer advice, guidance and specialized techniques to promote credit risk management best practices throughout the Institution.
Credit analysis and granting:

+ Assess the risks involved in transactions and the customers’ ability to settle their obligations according to the contracted terms.
Credit risk controls and management:

+ Perform preventive monitoring of active customers designed to anticipate default in the portfolio of operations involving credit risk, support decisions and commercial
strategies and provide data that permit the Credit Committee and Executive Board to monitor compliance with Banco Pine’s Strategic Planning.

Special Asset Management (Credit recovery department):
+ The Institution has a specific credit recovery area which is designed to support the areas involved in the collections process, and to identify and resolve potential risks to the

Institution, seeking agile and effective solutions to minimize possible losses, to be a source of information regarding payments which are overdue or which for some reason are no
longer certain, and to promote control over the risks which, pursuant to the policy established by the Institution, are managed by the Special Assets Area.

€) Liquidity risk
Definition

Liquidity risk is associated with possible difficulties the Institution may face in meeting its obligations as they fall due, resulting from its financial liabilties.

Página 36

(A free translation of the original in Portuguese)
FINE
BANCO PINE S.A. AND SUBSIDIARIES

NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012

02056-7 BANCO PINE S/A 62.144.175/0001-20

eE ra

Liquidity risk management

Liquidity risk management seeks to protect the Institution from possible market developments that generate liquidity issues. Accordingly, the Institution monitors its
portfolios with regards to maturities, volumes and the liquidity of its assets.

Daily control is carried out through reports in which the following items are monitored:
+ Maturity mismatches between payment and receipt flows Group wide;

+ Projection of liquidity stress scenarios defined by the Asset-Liability Committee (ALCO).

This information is checked against the Institution’s cash position each day and assessed each week by ALCO.

Liquidity is managed by the Market, Liquidity and P£L Risk Oversight Board, which reports to the Risk Control Oversight Board.
d) Market risk

i) Definition

Market risks are related to possible monetary losses due to fluctuations in variables that impact market prices and rates. Oscillations of financial variables such as
the price of input material and end products, inflation, interest rates and foreign exchange rates have the potential for causing loss in almost all companies and,

therefore, represent financial risk factors.

The Market Risk to which an institution is exposed is mainly due to three factors: a) exposure – amount exposed to risk; b) sensitivity – the impact of price

fluctuations; and c) variation – the magnitude of price variations. We stress that, among these factors, exposure and sensitivity are controllable by the Institution as

part of its appetite for risk, while variation is a market characteristic, and as a result out of the Institution’s control.

Market risks can be classified under different types, such as interest rate risk, foreign exchange risk, commodities price risk and share price risk. Each type represents the risk of
incurring losses due to oscillations in the respective variable.

ii) Market risk management

Market risk is managed in a centralized manner by an area that is independent in relation to the trading desk and is chiefly responsible for monitoring and analyzing
market risk originating in positions assumed by the Institution vis-a-vis its appetite for risk as defined by ALCO and approved by the Board of Directors.

Market risk is managed daily by the Market Risk department, which calculates the Value at Risk (VaR) and generates the Duration Gap of Primitive Risk Factor
mismatches of assets in the Institution’s portfolio.

Amounts are compared daily to the VaR limits, exposure by Primitive Risk and Stop Loss Factors established by ALCO and approved by the Institution’s Board of
Directors.

For stress tests, scenarios considering bear and bull markets on the Commodities and Futures Exchange, as well as changes to the interest rate curves, are used.
Scenarios generated by ALCO may also be used.

Methodologies
Fair value:

The purpose of marking to market (Fair Value) is to ensure that the pricing of assets and liabilities in the Institution’s portfolio is as transparent as possible for shareholder
protection.

Value at risk (VAR):

VaR measures the worst expected loss in a horizon given by normal market conditions in a given confidence level, that is, VaR provides a measure of market risk.
Market risk management uses VaR as a measure of the Group’s potential losses. For the calculations, the parameters used are the horizon of one day and a 99%

confidence interval. The calculation is based on closing market prices, taken from different sources (ANBIMA, BM8FBovespa, and the Brazilian Central Bank, among

others).

The VaR analysis is performed by market, vertex and risk factors associated with the interest curve, share prices, foreign exchange and commodities. If the VaR limit is
surpassed, an evaluation of the operations will be performed and those that present more risks will be readjusted by the Treasury in order to reduce risks and seek alignment with
the maximum exposure limit. Market liquidity will be evaluated as these operations are readjusted.

iv) Sensitivity analysis

Pursuant to CVM Instruction 475/08, we present below the possible impacts in the net income generated by the sensitivity analysis for all transactions involving financial
instruments, which expose the Institution to risks arising from exchange and interest rate fluctuations or any other types of exposure at March 31, 2013:

Sensitivity analysis

TO
TAO OY O NO)
Fixed interest rate (PRE) Fixed interest rate variations (1.680) (5.054) (10.108)
Price index (IGPM) IGPM coupon variations (86) (181) (362)
Price index (IPCA) IPCA coupon variations (973) (4.757) (9.515)
TALP rate TALP variations (mM 1.039 2.078
US dollar coupon rate Exchange coupon variation (4.715) (1.479) (2.959)
Other currency coupon rate Exchange coupon variation 36 (47) (94)
LIBOR Other currencies Variation in LIBOR 676 (6.748) (13.495)
Currencies Change in exchange variation 1 (18) (86)
Total (uncorrelated sum)* (9.295) (19.515) (39.029)
Total (correlated sum)* (6.742) (17.245) (34.491)

*Uncorrelated sum: sum of the resul obtained in the worst case stress scenarios for each risk factor.
*Correlated sum: he worst result of the sum of the stress test scenarios of all of the risk factors considering 1he correlation between them,

Página 37

(A free translation of the original in Portuguese)

Scenario comprising the variation in market factors between March 28, 2013 and April 12, 2013 (variation in the fixed rate from 7.92% to 8.32% in a 1-year curve and from 9.44% to
9.29% in a 4-year curve, variation in the US dollar from 2.014 to 1.976, and variation in the IPCA coupon from 1.26% to 1.72% in a 1 year curve).

Scenario | – Probable

a a Scenario comprising a 25% shock to the market interest rate curve amounts (disclosed by BMEF), and to the closing prices (US dollar and equity), as in the following example:
Scenario Il – Possible

Market rate New market rate
Curve (L year) Shock (1 year)
Fixed interest rate (PRE) 7,92% 25% 9,91%

Price index (IGPM) 2,48% 25% 3,10%

Price index (IPCA) 2,67% 25% 3,34%

TALP rate 2,66% -25% 2,00%

US dollar coupon rate 1,36% -25% 1,02%
Other currency coupon rate 1,33% 25% 1,67%
LIBOR – USD 0,73% 25% 0,91%
Currencies 2,0138 25% 25173

Scenario comprising a 50% shock to the market interest rate curve values (disclosed by BM£*), and in the closing prices (US dollar and equity), as in the following example:
Scenario Il – Remote

Market rate New market rate
Curve (1 year) Shock (1 year)
Fixed interest rate (PRE) 7,92% 50% 11,89%

Price index (IGPM) 2,48% 50% 3,72%

Price index (IPCA) 2,67% 50% 4,00%

TALP rate 2,66% -50% 1,33%

US dollar coupon rate 1,36% -50% 0,68%
Other currency coupon rate 1,33% 50% 2,00%
LIBOR – USD 0,73% 50% 1,10%
Currencies 2,0138 50% 3,0207

* For Scenarios Il and 11, the result of the high or low stress scenario was considered to obtain the most significant portfolio losses.
e) Capital management

Capital management is an important process that runs the institution in order to optimize the use of capital and achieve its strategic objectives. In order to generate stability in the
financial results and improve the allocation of capital, continuous improvement is fundamental to the management and control of credit, market, liquidity and operational.

According to Resolution n* 3.988/11 from Central Bank, capital management is defined as a continuous process:

+ Capital monitoring and control carried out by the Institution:
+ Assessing the need for capital to face the risks to which the Institution is subject;
+ Planning targets and capital requirements, based on the Institution’s strategic objectives.

Policies and strategies for capital management, considers a prospective position, anticipating capital needs arising from possible changes in market conditions and are
periodically reviewed by the Executive Board and the Board of Directors, in order to determine their compatibility with the strategic plan of the Institution.

Financial Institutions are required to permanently maintain capital compatible with the risks of their activities, represented by Required Regulatory Capital (PRE). PRE is
calculated considering, at least the sum of the portions of credit risk, market risk and operational risk.

On March 2013, the Bank has made public the rules relating to the definition of capital and regulatory capital requirements in order to implement the recommendations of the
Brazil Committee on Banking Supervision (Basel III). The main objectives are: i) improve the ability of financial institutions to absorb shocks from the financial system or the other
sectors of the economy; ii) reduce the risk of contagion in the financial sector of the company; iii) assisting the maintenance of financial stability, and iv) promoting sustainable
economic growth. The implementation of the new Basel III Rules starts from October 1, 2013.

At March 31, 2013, the Institution’s Basel ratio was 17.14% (December 31, 2012 – 16.19%), calculated based on the consolidated financial information.

3131/2013 ETA

Reference equity (PR) 1.453.709 1.477.645
Tier1 1.268.495 1.220.446
Equity 1.260.469 1.219.946
Mark-to-market adjustments 8.026 500
Tier 185.214 257.199
Subordinated debt 193.240 257.699
Mark-to-market adjustments (8.026) (500)
Required Regulatory Capital (PRE) % 933.161 1.004.123
Credit risk 802.258 899.670
Market risk 122.595 95.559
Operational risk 8.308 8.894
Surplus PR 520.548 473.522
Basel ratio – % 17,14% 16,19%

(% From June, 2011, the Bank changed the methodology for calculating the amount of regulatory capital required (PRE) for operational risk (POPR) of the Basic Indicator Approach (BIA) for the Simplified Alternative
Approach (ASA II), according to the circular Bank 3383/08.

Banco Pine, pursuant to Circular 3477/09, reports information on a quarterly basis related to the management of risk and required regulatory capital (PRE). The report containing
related details, structure and methodologies is available on the following website: www.pine.com.br/ri

1) Equity to fixed asset ratio

In accordance with BACEN Resolution 2286/96, the equity to fixed assets ratio is limited to 50.0%. At March 31, 2013, the equity to fixed assets ratio was 10.85% (December 31,
2012 – 10.21%).

Página 38

(A free translation of the original in Portuguese)
FINE

BANCO PINE S.A. AND SUBSIDIARIES
NOTES TO THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIODS ENDED MARCH 31, 2013 AND DECEMBER 31,2012

02056-7 BANCO PINE S/A 62.144.175/0001-20
“Un ousands ol reals, exceptunk Share price)

Página 39

(A free translation of the original in Portuguese)

a) Provision for credit assignment with coobligation

At March 31, 2013, the Institution had a provision for losses in the amount of R$1 (March 31, 2012 – R$8,121) related to loan operations assigned with co-obligation in the total
amount of R$209 (March 31, 2012 – 47,024). This provision is recorded in Other liabilities- sundry.

b) Insurance

The Institution’s insurance strategy is based mainly on risk concentrations and materiality, and policies are contracted at amounts established by Management, considering the
nature ofits business and the advice of its insurance brokers. Insurance coverage at March 31, 2013 is as follows:

[IS OTTO
Directors and Officers Liability (D£:O) Civil liability for directors and officers 20.000
Vehicles Fire, robbery and collision for 11 vehicles 1.930
Buildings, machines, furniture and fxtures Any material damage to facilities,

machinery and equipment 12.000
Bankers insurance Cash 300
Aireraftinsurance Aireraft-part guarantees 339.560

c) Operating lease

Banco Pine has liabilities generated by operating leases. The amounts corresponding to the commitments for leased equipment are not presented in the balance sheet, since the
related lease agreements do not include a purchase option. The cost of the lease agreements ¡s recognized in the statement of operations in the “Administrative expenses –
leased assets” account.

jual and Consolidated

3/31/2012
Expense for leased assets

Machinery and equipment leasing 4,11% 2 242 234
Aircraft leasing % – 558
Total 242 792

TT In September 2012 the lease of aireralt contract ended.

d) Fair value of financial instruments

In accordance with CVM Instruction 235, we present below a comparison between the carrying amounts of financial assets and liabilities measured at amounts other than fair
value and their corresponding fair values at the end of the year.

Fair value CTE
Assets

Short-term interbank investments() 611.385 611.385
Loan operations (i) 4.176.258 4.224.392
Other receivables(i) 724.374 725.430
Total financial assets 5.512.017 5.561.207

Demand deposits (‘” 126.363 126.363
Interbank deposits (‘” 109.786 109.786
Time deposits ‘” 2.973.425 2.962.673
Funds from acceptance and issuance of securities 1.163.251 1.162.761
Borrowings and onlendings (” 1.854.463 1.858.600
Subordinated debt(“ 335.984 307.989
Total financial liabilities 6.563.272 6.528.172

We present below the methods and assumptions used to estimate fair value:

i) The fair values of the short-term interbank investments substantially approximate their carrying amounts.

ii) The loan operations and other receivables are measured net of the allowance for loan losses. The fair value of these operations represents the discounted value of the
expected future cash flows. The expected cash flows are discounted at current market rates to determine their fair values.

ii) The estimated fair values of the demand and interbank deposits substantially approximate their carrying amounts.

iv) The estimated fair values of the time deposits and other loans which are not quoted in an active market are based on discounted cash flows, using the interest rates for new
debts with similar maturities.

Página 40

Link al archivo en CMFChile: https://www.cmfchile.cl/sitio/aplic/serdoc/ver_sgd.php?s567=d75affd143cb64ff53ddd75e54dbcba5VFdwQmVFMTZRVEZOUkVFd1RXcEZNRTVuUFQwPQ==&secuencia=-1&t=1682366909

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