BANCO PINE S.A. 2014-05-13 T-09:38

(A free translation of the original version in portuguese)

Individual and Consolidate Financial Statements under BR GAAP for the
Quarters Ended on March 31, 2014 and December 31, 2013

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 its subsidiaries (the Bank), included in the Quarterly Information Form (ITR)
for the quarter ended March 31, 2014, 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 of the Bank 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 ofthe Quarterly Information (ITR). Our
responsibility is to express a conclusion on this interim financial information based on our review.

Scope of the review

We conducted our review in 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 review is 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 of Quarterly Information by institutions authorized to operate by
the BACEN and presented in accordance with the standards issued by the CVM.

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, 2014. These statements are the responsibility of the Bank’s 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 12, 2014

PricewaterhouseCoopers
Auditores Independentes
CRC 28Po00160/0-5

Edison Arisa Pereira
Contador CRC 18P127241/0-0

FA PINE

PINE is a wholesale bank focused on establishing and maintaining long-term relationships with corporate clients and investors. Its strategy is
based on knowing its clients well and understanding their businesses 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.

Comments on 1014 Performance

1014 E] ny
Earnings and Profitability

Net income (R$ million) 35 46 -23.9%
Annualized ROAE 11.5% 15.5% -400 bps
Balance Sheet (R$ million)

Total assets 11,046 10,204 8.3%
Loan portfolio? 10,090 8,405 20.0%
Deposits* 4,099 3,521 16.4%
Funding 8,797 6,589 33.5%
Shareholders’ equity 1,271 1,260 0.9%
Credit portfolio quality

Non performing loans – 90 days 0.6% 0.6% 0 bps
Credit coverage index 2.6% 3.4% -80 bps
Performance

BIS ratio 13.7% 17.1% -340 bps
Earnings per share (R$) 0.29 0.42 -31.5%
Book value per share* (RS) 10.50 10.41 0.9%

Includes Standby LC, Bank Guarantees, Credit Securities to be Recelved and Private Securities (bonds, CRIS, eurobonds
and fund shares).

? Includes Agribusiness and Real Estate Letters of Credit
3 Forcomparison purposes, it considers 121047,768 shares for all periods.

eCredit
Expanded loan portfolio totaled R$10,090 million on March 31, 2014, representing increases of 1.6% QoQ and of 20.0% YoY. The average term of
the credit portfolio was 14 months in March 2014.

Funding

Total funding reached R$8,797 million in March 2014, 4.9% up from QoQ and 33.5% YoY. The volume of time deposits increased by 21.6% in the
year, while onlendings grew 36.7%. The weighted average term of funding transactions reached 16 months. In 1014, Pine raised US$115 million
through an A/B loan. The Green Line Finance Partnership entails a US$75 million A loan from IDB, with a five-year term, and US$40 million B
loan from Commerzbank, with a two-year term.

*Capital Structure (BIS)

In the quarter, the capital adequacy ratio (BIS) stood at 13.7%, above the regulatory minimum level of 11%. The Tier | capital represented 12.2%
while Tier Il represented 1.5%. The ratio decrease is mainly due to the 20% reduction in the amount of subordinated debt allowed for Tier Il
capital composition.

eDistribution of Profits / Interest on Own Capital and Dividends
On January 14, 2014, Pine paid a total of R$20 million as dividends and interest on own capital, which corresponds to a gross payout per share
of R$0.17. Of this total, R$16.5 million represents interest on own capital and R$3.5 million, dividends. Since 2008, Pine distributes
dividends/interest on own capital quarterly.

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
In compliance with CVM Instruction 381, of January 14, 2003, Pine reports that did not hire from the independent auditors any other services
than those related to the audit works for the period from January to March, 2014. PINE adopts the procedure of limiting the services rendered
by its independent auditors so as to ensure the auditor’s independence and objectivity pursuant to Brazilian and international standards.
PINE thanks our shareholders, clients, suppliers and employees for their trust and partnership dedicated during the quarter.

Sáo Paulo, May 12, 2014

Board of Directors
Executive Directors

(A free translation of the original in Portuguese)

PINE

BANCO PINE S.A. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS AS AT MARCH 31, 2014 AND DECEMBER 31,2013
(In thousands of reais)

ETE (ICE

CURRENT ASSETS 7,491,962 6,775,528 7,607,767 6,919,289
Cash 4. 46,322 147,466 53,819 157,168
Short-term interbank investments 5. 1,342,716 667,692 1,344,899 668,002
Open market investments 718,996 183,922 721,179 184,232
Interbank deposits 49,924 58,199 49,924 58,199
Foreign currency investments 573,796 425,571 573,796 425,571
Marketable securities and derivative financial instruments 1,484,398 1,804,111 1,532,387 1,918,995
Own portfolio 6. a) 776,519 1,021,113 824,508 1,135,997
Subject to repurchase agreements 6. a) 376,440 551,072 376,440 551,072
Derivative financial instruments 6.b) 331,439 227,876 331,439 227.376
Subject to guarantees 6. a) – 4,550 – 4,550
Interbank accounts 4,683 621 4,683 621
Unsettled payments and receipts 8 – 8 –
Restricted deposits:
Brazilian Central Bank 4,675 621 4,675 621
Loan operations 7. 3,569,527 3,133,477 3600,976 3,145,959
Loan operations – private sector 3,367,430 2917,156 3,899,233 2,929,883
Loan operations – public sector 151 365 151 365
Credit transactions subject to transfer 7.) 298,103 305,996 298,103 305,996
(+) Allowance for loan losses (96,157) (90,040) (96,511) (90,235)
Other receivables 956,412 854,969 983,009 861,352
Foreign exchange portfolio 8. 618,961 525,129 618,961 525,129
Income receivable 28,229 26,958 28,229 26,958
Negotiation and intermediation of securities 76,994 65,415 76,994 67,008
Sundry 9. 243,839 248,971 270,436 253,761
(-) Allowance for other loan losses (11,611) (11,504) (11,611) (11,504)
Other assets 87,904 167,192 87,994 167,192
Non-operating assets 81,597 162,764 81,597 162,764
Prepaid expenses 6,307 4,428 6,397 4,428
LONG-TERM RECEIVABLES 3,535,690 3,677,856 3,328,347 3,521,586
Interbank investments 3,151 – 3,151 –
Interbank deposits 3,151 – 3,151 –
Marketable securities and derivative financial instruments 844,067 799,680 628,637 595,750
Own portfolio 6. a) 415,228 402,119 199,798 198,189
Derivative financial instruments 6. b) 256,207 287,982 256,207 287,982
Subject to guarantees 172,632 109,579 172,632 109,579
Loan operations 7. 2,120,067 2,374,308 2,122,777 2,416,359
Loan operations – private sector 2,101,845 2,371,032 2,104,583 2,420,402
Loan operations – public sector 19,068 18,626 19,068 18,626
Credit transactions subject to transfer 7.) 78,209 60,538 78,209 60,538
(+) Allowance for loan losses (79,055) (75,888) (79,083) (83,207)
Other receivables 557,680 492,247 563,035 497,821
Income receivable 34,951 29,987 34,951 29,987
Deposits in guarantee 16. (c) (d) 209,660 206,615 210,873 207,809
Sundry 9. 313,681 256,343 317,823 260,723
(-) Allowance for other loan losses (612) (698) (612) (698)
Other assets 10,725 11,621 10,747 11,656
Prepaid expenses 10,725 11,621 10,747 11,656
PERMANENT ASSETS 80,051 139,672 110,367 103,791
Investments 58,871 113,260 88,395 76,509
Investments subsidiaries – Abroad 10.2) 7,356 9,047 – –
Investments in local subsidiaries 10.2) 51,515 104,213 – –
Other investments 10.b) – – 88,395 76,509
Property and equipment in use 11.a) 19,925 24,984 20,489 25,619
Facilities, furniture and equipment in use 13,216 13,216 13,786 13,806
Other fixed assets in use 21,348 29,140 21,604 29,405
Accumulated depreciation (14,639) (17,372) (14,901) (17,592)
Intangible assets 11.b) 1,255 1,428 1,483 1,663
Expenses for acquisition and development of software 9,587 9,587 9,880 10,288
Accumulated amortization (8,332) (8,159) (8,397) (8,625)
TOTAL ASSETS 11,107,703 – 10,593,056 11,046,481 10,544,666

(A free translation of the original in Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS AS AT MARCH 31, 2014 AND DECEMBER 31,2013

(In thousands of reais)

PINE

ETE]

E

CURRENT LIABILITIES
Deposits 12.
Demand deposits
Interbank deposits
Time deposits
Funds obtained in the open market 13.
Own portfolio
Third-party portfolio
Funds from acceptance and issuance of securities

Real estate letters of credit 18. a)
Agribusiness letters of credit 18. a)
Financial bills 18. a)
Securities issued abroad 18.b)

Interbank accounts
Unsettled payments and receipts
Correspondent banks 14.
Interdepartmental accounts
Third-party funds in transit
Borrowings and onlendings 17.
Foreign borrowings
Local onlendings – official institutions
Foreign onlendings

Derivative Financial Instruments 6.b)
Derivative financial instruments

Other liabilities
Collection and payment of taxes and similar 15.a)
Foreign exchange portfolio 8.
Social and statutory payables
Tax and social security contributions 15.b)
Negotiation and intermediation of securities
Subordinated debt 19.
Sundry 15.0)
Liabilities for sale and transfer of financial assets 7.)

Other

LONG-TERM LIABILITIES

Deposits 12.
Interbank deposits
Time deposits

Funds obtained in the open market 13.
Own Portfolio

Funds from acceptance and issuance of securities
Real estate letters of credit 18. a)
Agribusiness letters of credit 18. a)
Financial bills 18. a)
Securities issued abroad 18.b)

Borrowings and onlendings 17.

Local borrowings – other institutions
Foreign borrowings
Local onlendings – official institutions
Foreign onlendings

Derivative financial instruments 6.b)
Derivative financial instruments
Other liabilities
Tax and social security contributions 15.b)
Subordinated debt 19.
Sundry 15.0)
Liabilities for sale and transfer of financial assets 7.)
Provision for contingent liabilties 16. d)
Other

DEFERRED INCOME

EQUITY 20.
Capital
Local residents
Foreign residents
Capital reserves
Revenue reserves
Carrying value adjustments
(+) Treasury shares

TOTAL LIABILITIES AND EQUITY

6,765,083
2,327,265
27,843
77,651
2,221,771
482,402
372,080
110,322
1,282,981
244,924
398,269
615,627
24,161
254

249

5

266

266
1,487,578
1,017,395
467,254
2,929
113,735
113,735
1,070,602
3,193
303,476
5,835
49,404
12,578
289,399
406,717
380,923
25,794

2,997,552
1,096,245
545
1,095,700
6,986
6,986
480,240
22,700
55,389
163,336
238,815
1,263,590
294,190
706,774
262,626
28,952
28,952
121,539
41,544
54,406
25,589
7,188
12,135
6,266

74,266

1,270,802
1,112,259
979,805
132,454

180,607
(21,011)
(1,053)

11,107,703

6,029,282
2,104,966
23,332
77846
2,003,788
547,579
547,579

1,301,013
270,317
410,269
599,368

21,059
25
25
15,072
15,072

1,389,642

1,045,727
341,050

2,865
160,353
160,353
510,632

1,163

94,959
6,432
20,368
27,602
14,150
345,958
317,327
28,631

3,222,867
1,159,366
16,093
1,143,273
436,686
10,379
28,073
138,999
259,235
1,107,431
304,538
800,058
2,835
30,480
30,480
488,904
63,244
346,061
79,599
60,538
11,922
7,139

68,499

1,272,408
1,112,259
979,805
132,454
14,032
184,965
(16,765)
(22,083)

10,593,056

6,272,512
2,297,323
27,372
75,696
2,194,255
372,080
131,920
240,160
1,280,005
244,924
395,293
615,627
24,161
254

249

5

266

266
1,487,578
1,017,395
467,254
2,929
113,735
113,735
721,271
3,193
303,476
5,835
50,486
22,338
289,399
46,544

46,544

3,428,901
1,083,222
504
1,082,718
6,986
6,986
480,240
22,700
55,389
163,336
238,815
1,715,142
451,552
294,190
706,774
262,626
28,952
28,952
114,359
41,552
54,406
18,401

12,135
6,266

74,266
1,270,802
1,112,259
979,805
132,454

180,607

(21,011)
(1,053)

11,046,481

5,633,178
2,045,453
23,260
73,665
1,948,528
508,792
333,529
175,263
1,301,013
270,317
410,269
599,368
21,059

25

25

15,072
15,072
1,389,642
1,045,727
341,050
2,865
160,353
160,353
212,828
1,163
94,959
6,432
25,107
39,922
14,150
31,095

31,095

3,570,581
1,110,748
16,053
1,094,695
436,686
10,379
28,073
138,999
259,235
1,564,294
456,863
304,538
800,058
2,835
30,480
30,480
428,373
63,251
346,061
19,061

11,922
7,139

68,499

1,272,408
1,112,259
979,805
132,454
14,032
184,965

(16,765)

(22,083)

10,544,666

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

(A free translation of the original in Portuguese)

PINE

BANCO PINE S.A. AND SUBSIDIARIES
STATEMENTS OF OPERATIONS FOR THE PERIODS ENDED MARCH 31, 2014 AND 2013

(In thousands of reais, except net income per share)

Net Income

35,007 45,555
Available-for-sale financial assets (23,898) (13,379)
Cash flow hedges (325) –
Income tax 14,066 5,351
Other (10,855) (7,688)
Comprehensive Income 13,996 29,839

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

(A free translation of the original in Portuguese)

BANCO PINE S.A. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME FOR THE PERIODS ENDED MARCH 31, 2014 AND 2013

(In thousands of reais, except net income per share)

PINE

INCOME FROM FINANCIAL INTERMEDIATION

Loan operations 21.a)
Marketable securities 21.b)
Derivative financial instruments 6.b)

Foreign exchange transactions

EXPENSES FOR FINANCIAL INTERMEDIATION
Funds obtained in the market 21.0)
Borrowings and onlendings 21.d)
Sales or transfer of financial assets

Allowance for loan losses

GROSS PROFIT FROM FINANCIAL INTERMEDIATION

OPERATING INCOME (EXPENSE)

Income from services rendered 21.8)
Income from bank charges

Personnel expenses 21.)
Other administrative expenses 21.9)
Tax expenses 21.h)
Equity in the results of investees 10.
Other operating income 21)
Other operating expenses 21)

OPERATING PROFIT

NON-OPERATING RESULTS

INCOME BEFORE INCOME TAXES AND
PROFIT SHARING

INCOME TAX AND SOCIAL CONTRIBUTION 22.
Provision for current income tax

Provision for current social contribution

Deferred income tax and social contribution

PROFIT SHARING

REVERSION OF INTEREST ON OWN CAPITAL

NET INCOME

NUMBER OF OUTSTANDING SHARES
NET INCOME PER SHARE – IN REAIS

272,326
166,256
101,518
8,369
(3,817)

(194,200)
(136,840)
(18,263)
(19,537)
(19,560)

78,126

(42,510)
19,019
297
(21,706)
(25,088)
(2,854)
(882)
7,453
(18,749)

35,616

6,836

42,452
(11,224)
(238)
(150)
(10,836)
(12,751)
16,530
35,007

121,047,768
0.28920

227,159
106,206
56,454
62,224
2,275

(141,566)
(120,155)
(9,884)

(11,527)
85,593

(83,728)
17,966
604
(21,514)
(23,250)
(2,444)
8,498
10,620
(24,208)

51,865

2,292

54,157
(16,775)
(833)
(520)
(15,422)
(6,804)
14,977
45,555

107,824,104
0.42249

263,216
167,948
90,716
8,369
(3,817)

(181,926)
(135,702)
(83,796)

(12,428)
81,290

(44,150)
20,281
297
(23,372)
(26,434)
(3,054)
7,458
(19,326)

37,140

6,836

43,976
(12,189)
(883)
(467)
(10,839)
(13,310)
16,530
35,007

121,047,768
0.28920

232,789
110,521
57,769
62,224
2,275

(144,111)
(119,028)
(12,116)

(12,967)
88,678

(33,880)
29,439
604
(22,388)
(23,625)
(3,499)
9,930
(24,341)

54,798

2,292

57,090
(18,983)
(2,346)
(1,148)
(15,489)
(7,529)
14,977
45,555

107,824,104
0.42249

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

(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, 2014 AND 2013
(In thousands of reais)

UE

Revenues 284,152 237,883 282,864 252,723
Financial intermediation 272,326 227,159 263,216 232,789
Services rendered 19,019 17,966 20,281 29,439
Bank charges 297 604 297 604
Provision for loan losses (19,560) (11,527) (12,428) (12,967)
Other 12,070 3,681 11,498 2,858
Expenses tor financial intermediation 174,640 130,039 169,498 131,144
Goods and services acquired from third parties 21,239 19,382 22,397 19,727
Materials, electricity and other 144 182 150 183
Third-party services 16,082 14,525 17,122 14,765
Other 5,013 4,675 5,125 4,779
Gross value added 88,273 88,462 90,969 101,852
Depreciation and amortization 1,306 1,525 1,355 1,525
Net value added produced by the institution 86,967 86,937 89,614 100,327
Value added transferred from others (882) 8,498 – –

Equity in the results of investees (882) 8,498 – –

Total value added to be distributed 86,085 95,435 89,614 100,327
Distribution of value added 86,085 95,435 89,614 100,327
Personnel 34,457 28,318 36,682 29,917
Salaries 14,549 14,392 15,931 14,979
Benefits, training 2,151 2,189 2,280 2,274
Social charges 5,006 4,933 5,161 5,135
Profit sharing 12,751 6,804 13,310 7,529
Taxes, charges and contributions 14,078 19,219 15,243 22,482
Federal 1,292 1,464 1,424 1,943
State 1 4 3 4
Municipal 1,561 976 1,627 1,552
Income tax and social contribution 11,224 16,775 12,189 18,983
Remuneration of third-party capital 2,543 2,343 2,682 2,373
Rents and leased assets 2,543 2,343 2,682 2,873
Remuneration of own capital 35,007 45,555 35,007 45,555
Interest on own capital/dividends 20,000 30,000 20,000 30,000
Retained eamings 15,007 15,555 15,007 15,555

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

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

‘STATEMENTS OF CHANGES IN EQUITY FOR THE PERIODS ENDED MARCH 31, 2014 AND 2013
(In thousands of reais, except dividends and interest on own capital per share)

PINE

COS

Paid-up Capital Capital Carrying value UE A]
Reserves 77 ESTO

At December 31, 2012 935,683 – 11,685 24,955 260,796 (423) – (12,750) – 1,219,946
Capital increase (Note 20) – 31,576 – – – – – – – 31,576
Other capital reserves – – (2.465) – – – – – – (2,465)
Sale of treasury shares – – – – – – 2,757 – – 2,757
MTM available-for-sale securities – – – – – (7,526) – – – (7,526)
Other carrying value adjustments – – – – – – – – –
Netincome – – – – – – – – 45,555 45,555
Appropriations (Note 20):

Legal reserve – – – 2278 – – – – (2,278) –

Statutory reserve – – – – 13,277 – – – (13,277) –

Approval/payment of proposed additional dividend – – – – (18,558) – – – (18,558)

Payment of proposed additional dividend – – – – 19,184 – – – – 19,184

Prepaid 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 9,220 27,232 274,700 (7,949) (9,993) – – 1,260,469
Saldos em 31 de dezembro de 2013 1,112,259 – 14,032 15,605 169,360 (16,765) (22,083) – 1,272,408
Capital increase – – – – – – – – – –
Acquisition of treasury shares – – – – – – (1,053) – – (1,053)
Cancellation of treasury shares (14,032) (9,874) 22,083 (1.823)
Other capital reserves – – – – – – – – – –
MTM available-for-sale securities (2,154) – – – (2,154)
Other carrying value adjustments – – – – – (2.092) – – – (2,092)
Netincome – – – – – – – – 35,007 35,007
Appropriations (Note 20):

Legal reserve – – – 1,750 – – – – (1,750) –

Statutory reserve – – – – 13,257 – – – (13,257) –

Approval/payment of proposed additional dividend – – – – (21,177) – – – – (21,177)

Payment of proposed additional dividend – – – – 11,686 – – – – 11,686

Prepaid dividends (R$0,2336 per share) – – – – – – – – (3,470) (3,470)

Interest on own capital (R$0,2595 per share) – – – – – – – – (16,530) (16,530)
At March 31, 2014 1,112,259 – – 17,355 163,252 (21,011) (1,053) – – 1,270,802

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

BANCO PINE S.A. AND SUBSIDIARIES

STATEMENTS OF CASH FLOWS (INDIRECT METHOD) FOR THE YEARS ENDED MARCH 31, 2014 AND 2013

(In thousands of reais)

PINE

E

Consolidated
31/03/2013

Operating Activities

Adjusted net income

Net income

Allowance for loan losses

Deferred taxes

Depreciation and amortization

Provision for contingencies

Equity in the results of investee

Profit (loss) on sale of property and equipment/investment
Adjustments to fair value of other investments

Changes in assests and liabilities

(Increase) decrease in short-term interbank investments
(Increase) decrease in marketable securities

(Increase) decrease in loan operations

(Increase) decrease in other receivables

(Increase) decrease in other assets

(Increase) decrease in interbank and interdepartmental accounts
(Increase) decrease in derivative financial instruments
Increase (decrease) in deposits

Increase (decrease) in purchase and sale commitments
Increase (decrease) in funds from acceptance and issuance of securities
Increase (decrease) in borrowings and onlendings
Increase (decrease) in other liabilities

Increase (decrease) in deferred income

Net cash provided by (used in) operating activities

INVESTING ACTIVITIES
Acquisition/sale of property and equipment in use
Investments in intangible assets

Acquisition of Investments

Dividends receipts from subsidiaries
Reduction/Capital increase in subsidiaries

Net cash used in investing activities

FINANCING ACTIVITIES
Capital increase

Other capital reserves

Sale/acquisition of treasury shares
Interest on own capital and dividends paid
Net cash used in financing activities

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period

o

66,838
35,007
19,560
10,836

1,306
(1,155)
882
402
488,448
4,609
343,368

(201,369)

(177,712)
80,184

(18,639)
(120,434)
159,178

(58,191)
25,522
254,095
192,070
5,767
555,286

3,523

53,507

57,030

(2,876)
(27,800)
(30,676)

581,640
757,474
1,339,114

60,830
45,555
11,527
15,422

1,525
(4,725)
(8,498)

24
240,274
6,342
616,72
(110,195)
(106,759)
(3.587)
(15,369)
52,841
(112,714)
121,750
(129,302)
(90,482)
9,068
2,309
301,104

(199)
2

(505)
(702)

31,576

(2,463)
2,757

(27,757)
4,113

304,515
423,396
727,911

51,591
35,007
12,428
10,839
1,355
(1,155)

402
(7,285)
561,440
4,608
421,763
(173,868)
(197,710)
80,107
(18,639)
(120,434)
224,344
(129,726)
22,546
248,784
193,893
5,767
613,031

3,546
7
(4,601)

(1,048)

(2,876)
(27,800)
(30,676)

581,307
767,486
1,348,793

70,865
45,555
12,967
15,489

1,525
(4,695)

24
223,861
6,342
605,925
(82,349)
(107,707)
(8,587)
(15,369)
52,841
(120,174)
121,750
(129,302)
(116,846)
10,028
2,309
294,726

(200)
2

(198)

31,576

(2,463)
2,757

(27,757)
4,113

298,641
430,398
729,039

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

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)
Quarterly Information (TR)

FINANCIAL INSTITUTION Data Base – 03/31/2014
102056-7 BANCO PINE S/A 62.144.175/0001-20

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

ln thousands ore, exceptorihe shares uni pro]

1. OPERATIONS

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

2. PRESENTATION OF FINANCIAL STATEMENTS

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

The financial statements are presented in reais (R$), which is the Institution’s functional currency and that of its foreign branch and subsidiary. 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 May 06, 2014, were
authorized for issue on March 31, 20141, 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 and subsidiary abroad, its direct and indirect subsidiaries and
the special purpose entity presented below:

31/03/2014,

Net income

Business activity Total assets Capital Equity (Loss)

Foreign Branches and Subsidiaries

Grand Cayman Branch Branch foreign 1,045,595 6789 79,743 (696)
Subsidiárias

Pine Securities USA LLO Subsidary foreign 26.975 11,16 7365 (1.384)
Pine Investimentos Distribuidora de Títulos e Valores Mobilários Ltda. Securities dealer 173,095 19,385 42516 751
Pine Comercializadora do Energia Elétrca Ltda (“9 Consuting 3514 1.000 3507 2
Pino Corretora de Seguros Ltda. Insurance broker 247 500 246 1
Pino Assessora e Consultoria Lida. Consulting 3321 500 2850 (136)
Pine Assessoria em Comerciaizagáo de Energía Consulting 35 60 35 5
Pino Planejamento e Servios Ltda Consulting 2614 10 2092 170

Special Purpose Entities (SPEs)
Pine Crédito Privado Fundo de Investimento em Direitos Creditórios Financeiros (a) — Receivables

investment
fund (FIDC) 45.036 29,338 45,031 2,855

tio Corporate – Fundo De Investimento Em Participacoes (b) *” Private
FIP Rio Corporate – Fundo De Investimento Em Participacoes (b) equity fund 108,987 58,637 99,181 10,882

IRE VIl Desenvolvimento Imobilário S/A (0) ‘% sPE 46,706 46,878 46,043 2

Fundo de Investimento em Diretos Creditórios – FIDC Pine Agro (a) Recelvables
investment
tuna (FIDC) 617,836 571,428 617,742 27,017

EJ

Net income

Business activity Total assets o) 7 (5)

Foreign Branches and Sub:
Grand Cayman Branch Branch foreign 505,850 50% 80.839 (196)
Subsidiárias
Pine Securities USA LLO Subsidiary foreign asto 10,069 8139 (035)
Pine Investimentos Distribuidora de Títulos e Valores Mobiláios Ltda. Securiies dealer 101,089 19,385 38.805 73
Pine Comercializadora de Energía Elétrica Ltda 01% Consulting 81,553 77400 81,228 798
Pine Coretora de Seguros Ltda. Insurance broker 236 500 295 1
Pine Assessora e Consultoria Ltda. Consuling 35.564 500 95,188 (620)
Pine Assessora em Comercialzacáo de Energía Consuling 50 5 50 a
Pine Planejamento e Servios Ltda Consuling 19,964 10 11,407 7,289
Entidades de propósito específico
Pine Crédito Privado Fundo de Investimento em Diretos Creditórios Financeiros (a) — Recevables

investment

tuna (EIC) 196,419 97270 190,324 (1.961)

Vs contractual provided for on December 26, 2013, the Pine Comercializadora de Energía reduced ls capa rom RS 77.400 10 A $ 1.000.
1 Pino Comercializadora do Energia Elétrica Ltda. holds 80% ol Pino Assossoria am Comercializacáo de Energia

Pl On Apail 18, 2013 the FIP Rio Corporate was constluted on May 15, 2013 Ihe Bank paid in 55.950 shares.

9 On May 18, 2013, tvough FIP Rio Corporao,tho Institution acquired 1009 o ho shares ol IRE VII Desenvolvimento Imobiliro Lida.
IDO Pino Agro was constiuted oa September 16, 2013 and on September 17, 2013, ho Instulon paid in 171,428,571 sharos

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR) Brazilian corporate legislation
FINANCIAL INSTITUTION Data Base – 03/31/2014
02056-7 BANCO PINE S/A 62.144.175/0001-20

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

a) Pine Crédito Privado

Since the control over receivables assigned to this receivables investment fund (FIDO) stil lies with the Institution (receipt, transfer and collection) and, in essence, the
Institution is responsible for providing the guarantees to the FIDC’s investors as regards expected receivables and yield, management decided to consolidate the FIDC,
as provided for in CVM Circular 01/07.

In accordance with Article 5 of CVM Instruction 408/04, we present below the information on 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 the 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.

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR) Brazilian corporate legí
FINANCIAL INSTITUTION Data Base – 03/31/2014
102056-7 BANCO PINE S/A 62.144.175/0001-20

(A free translation of the original in Portuguese)

06.01 – NOTES TO QUARTERLY INFORMATION

Investment in the equity and results of the FIDC

In accordance with Article 24, section XV, of CVM Instruction 356, as amended by 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’s shareholders.

) Nature of the Institutior’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, pursuant to the assignment agreement, ¡s 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 the receivables, payables, income and expenses between the Institution and the FIDC, assets transferred by the Institution and
rights of use over the FIDC assets.
No loans were assigned to the FIDG for the period ended March 31, 2014 and 2013.

Adgitionally, on account of its investment in subordinated shares in this Fund, at March 31, 2014, the Institution recognized a profit of R$ 3.141 (Income of RS 643 at
March 31, 2014) in the “marketable securities” account.

v) Total assets, liabilities and equity of the FIDC at March 31, 2014 and 2013:

3/91/2014. 31/03/2013 ES 31/03/2013

Current assels and Long-term receivables 145,036 – 136,413. Currentliabiities 5 a
Cash 1 9 Otherliabities 5 dd
Shorterm interbank investments 2,183 1,120
Marketable securites 8302 15467
Loan operations 34,540 119817 Equity 45,081 196,325
Total do ativo 45,036 136,413 Totalliabilties and equity 45,096 196,413

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

benefi

Identification of the pri ry 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.

b) FIP Rio Corporate

Since its institution sole shareholder is the FIP and this is a Private Equity Fund, the management decided to consolidate the FIP, pursuant to resolution 2723 of May
31, 2000 the Central Bank of Brazil.

i) Name, nature, purpose and activities of the FIP.

FIP Rio Corporate, administered by BNY Mellon Financial Services Distributor Securities SA was set up in the form of condominium on April 18, 2013. The Fund
offered 100,000 shares with a par value of R$ 1. The closing date for the distribution is 30 months from the date of the first payment of quotas, which was on May 15,
2013. The Fund will terminate their activities five years from the date of the first payment of shares, which may be extended, upon proposal by the Manager and at the
General Meeting of Shareholders.

The purpose of the Fund is to increase shareholders invested capital appreciation over the long term by investing in shares of the Companys, whose exclusive
purpose is the development and economic exploitation, through leasing and sale of real estate enterprise.

jes and equity of the FIP at March 31, 2014:

ES ES

Current assets 108,987. Current liabilities 3,806
Cash 1 Otherliabities 9,806
Securities trading 108,986
Shares in investment funds 5
Shares of the company closed 108,981 Equity 99,181
Total do ativo 108,987. Total 108,987

c) IRE VII Desenvolvimento Imobiliário S/A

Since it has control over the SPE’s activities, the Institution’s management decided to consolidate IRE VII Desenvolvimento Imobiliário S/A, in accordance with the
provisions of CVM Instruction 408/04.

i) Name, nature, purpose and activities of the SPE

IRE Vill Desenvolvimento Imobiliário S/A was constituted as a corporation on December 9, 2010. Its main activities include the management, purchase, sale and rental
of properties owned by itself or by third parties; real estate development and investment in other companies as a partner or shareholder.

Investment in the equity and results of the SPE

On May 16, 2013, through FIP Rio Corporate, the Institution acquired 100% of the shares of IRE VII Desenvolvimento Imobiliário Ltda.

10

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR) Brazilian corporate legí
FINANCIAL INSTITUTION Data Base – 03/31/2014
102056-7 BANCO PINE S/A 62.144.175/0001-20

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

) Tot

¡ssets, les and equity of the SPE at March 31, 2014:

3/91/2014] 3/31/2014

Current assets 4,291. Current liabilities E
Cash 223. Taxand social security contributions. 8s
Shortterm interbank investments. 2,976 Other labities 575
Other recelvables 1,092

Permanent Assets 42,415 Equity 46,043
Property 42,415

Total assets 46,706 Total liabilties and equity 46,706

d) Receivables investment fund (FIDC) Pine Agro

Because the control over the receivables assigned to the fund remains with the Bank (receipt, transfer and collection) and, in substance, the Bank offers guarantees to
the FIDC investors relating to the expected receipt and profitability, the Bank’s management decided to consolidated FIDC Pine Agro, as established by the Brazilian
Securities and Exchange Commission (CVM) Circular Letter 01/07.

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

Fundo de Investimento em Direitos Creditórios Financeiros – FIDC Pine Agro, managed by Oliveira Trust Distribuidora de Títulos e Valores Mobiliários S.A., was
constituted as a closed fund on September 16, 2013. The Funds equity will be comprised of two types of quotas: Senior Quotas and Subordinated Quotas, in
accordance with Article 12 of CVM Instruction 356/01. The first offer of the Funds Senior Quotas will be carried out as established by Instruction 476/09, only for
Qualified Investors acquiring a minimum amount of R$ 1,000. The Fund has no fixed duration.

Santander Brasil S.A. was contracted to render controllership services for the Fund, as well as the qualified custody of the portfolio assets, custody of evidencing
documents and quota bookkeeping.

The objective of the Fund is to provide long term returns to Shareholders by investing the Funds resources in the acquisition of credit rights arising from (i) loan
transactions originated and issued by the transferor, either exclusively or syndicated, to their customers in the sectors of operation, and (ii) debentures issued by
clients, active in sectors of operation, the title of the transferor, who may rely on warranties, guarantees among them, that meet the assignment conditions and eligibility
criteria, observing all composition and portfolio diversification indices as established in the Fund Regulation.

The Fund may acquire credit rights arising from and assigned by assignees in the following business segments: (í) sugar and alcohol; (ii) agriculture (primary
production); (ii) food segment retailers and distributors; (iv) animal protein; (v) grain; (vi) beverages; (vii) renewable energy; (vii) tradings; (ix) agricultural inputs; (x)
paper and pulp; and (xi) value-added products.

) Investment in the equity and results of the FIDC .

In accordance with Article 24, item XV, of CVM . No. 356, as amended by CVM Instruction n . 393, and Chapter 21 of the Rules of the Fund, the relationship between
the value of the senior shares and shareholders’ equity of the Fund is 70%. This means that the Fund should have 30 % of its assets represented by subordinated
quotas . This ratio will be calculated daily and made available to the shareholders of the Fund monthly.

Nature of involvement with the FIDC and type of exposure to losses , if any, arising from this involvement .
The verification of the framework of credit rights to the transfer agreements, in the form of the transfer agreement, is the sole responsibility of the Custodian (Pine
Bank) , without limiting the right of the assignee (the Fund) , directly or through third parties , to also perform such verification .

Non-compliance with any pecuniary obligation related to credit rights by the drawees and other assets which comprise the Fund’s portfolio is allocated to the
subordinated shares up to a limit equivalent to the sum of their total. Once this total is exceeded, a default on the credit rights of the Fund are allocated to senior
shares. Subordinated shares do not have a profitability goal, however, they should benefit from any eventual excess retums generated by the portfolio of the credit
rights.

In the event that the percentage of subordinated shares represents less than 30 % of the net assets of the Fund, the Bank will have 5 business days to reestablish this
minimum by means of subscribing for new subordinated shares which in the event this does not happen, the Administrator shall call upon the General Meeting of
Shareholders in accordance with the Fund Regulation. In the event that the subordinated shares represent more than 31% of the net assets of the Fund, the
Adminsitrator can impose a partial amortization of subordinated shares in the amount necessary to rebalance the ratio.

iv) and nature of receñ , liabilities , and expenses 1 the ny and the FIDC , assets transferred by the company and rights
to use assets from FIDC.

In the period ended March 31, 2014, there have been assigned operations for the FDIC in the amount of R $ 101,537.

Additionally, due to the maintenance of investments in subordinated shares in this Fund, the Bank recognized in the period ended March 31, 2014, revenue of R$
14,510, recognized in the caption ” income from operations with securities .*

v) Total Assets, liabilities and equity of the FIDC Pine Agro at March 31, 2014:

ESE 3/31/2014

Current assets $17,836. Current labi 4
Cash 16. Otherliablities 9
Short-term interbank investments 110,322
Markcetable securitis – Trading 139,016
Loan operations 372,409
Other recelvables 2,073. Equity 617,742
Total assets 617,836 Total liabilties and equity 617,836

vi) Guarantees, sureties, mortgages or other collateral in favor of the FIDC .
Banco Pine has provided no guarantee, surety , mortgage or other collateral in favor of the Fund or its investors
activities of the FDIC.
Banco Pine is the holder of all of the subordinated shares of the Fund, of which the senior shares belong to several qualified investors .

benefi

vii) Identification of the pri ies of the m:

y or group of bene!

1

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR) Brazilian corporate legislation
FINANCIAL INSTITUTION Data Base – 03/31/2014
102056-7 BANCO PINE S/A 62.144.175/0001-20

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

3. SIGNIFICANT ACCOUNTING PRACTICES

The financial statements of Banco Pine are prepared and presented in accordance with the accounting practices adopted in Brazil applicable to institutions authorized
10 operate by the Brazilian Central Bank (BACEN) and to corporations and by the Brazilian Securities Commission (CVM), where applicable.

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 these financial

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 Securities, Pine Investimentos, Pine Comercializadora, Pine Corretora,
Pine Assessoria and Pine Assessoria em Comercializagáo de Energia and Pine Planejamento were eliminated in the consolidated statements. In the consolidation
process of FIDC and FIDC Pine Agro, the balance of the loan assignment receivables portfolio was included in the Institution’s loan operations portfolio, with a
corresponding entry for 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 from operations
Revenues 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.

e) Cash and cash equivalent

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.

e) Marketable securities
In accordance with BACEN Circular 3068, 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 eamings 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 eamings 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 earnings. Premium and discount, where applicable, are appropriated to results based on the term of the individual
securities.

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

1) Derivative financial instruments

In accordance with BACEN Circular 3082/02 and Circular Letter 3026/02, 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
up 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 itis effectively received.

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 ofí 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.

h) Write off of financi

¡sets

As established by BACEN Resolution 3533/08, financial assets are written off when the contractual rights to the cash flow of the financial asset expire or when the
financial asset is sold or transferred.

The sale or transfer of a financial asset is currently classified as:

Operations with substantial transfer of risks and benefits : the transferor has transferred substantially all risks and rewards of ownership of the financial assets
involved in the transaction, such as : (1) unconditional sale of financial assets , (ii) sale of financial asset combined with an option to repurchase the asset at fair value
at the time of repurchase , and (iii) sale of a financial asset combined with an option to buy or sell of those which fiscal year is unlikely to occur ;

12

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR) Brazilian corporate legislation
FINANCIAL INSTITUTION Data Base – 03/31/2014
02056-7 BANCO PINE S/A 62.144.175/0001-20

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

Operations with substantial retention of risks and benefits : the transferor retains substantially all the risks and rewards of ownership of the financial assets involved
in the transaction , such as : (i) the sale of the financial asset combined with a commitment to repurchase the same asset at a fixed price or the sale price of any
added income , (ii) securities lending agreements, (ii) sale of financial asset combined with a contract rate swap that transfers the total return exposure to market risk
back to transferor , (iv ) the sale of financial asset combined with an option to buy or sell whose fiscal year is likely to occur , and ( v ) sale of receivables for which the
seller or transferor guarantees in any way compensate the purchaser or transferee for credit losses that may occur , or the sale occurred in conjunction with the
acquisition of the subordinated Investment Fund (FIDC ) buyer ;

Operations without transfer or substantial retention of risks and benefits : Shall be classified operations in which the transferor neither transfers nor retains
substantially all the risks and rewards of ownership of the financial assets involved in the transaction

The allowance for loan losses follows the guidelines established by Resolution No. 2.682/99 of the Central Bank.

13

FEDERAL PUBLIC SERVICE

BRAZILIAN SECURITIES COMMISSION (CVM) PINE
Quarterly Information (TR) Brazilian corporate legislation

FINANCIAL INSTITUTION Data Base – 03/31/2014

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

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

1) Prepaid expenses

These are controlled by contract and recorded under 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.

) 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.

k) 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

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-ine method over the estimated period of economic benefit

1) 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 that generates cash flows that are largely independent of the cash flows from other assets or groups of assets. Impairment losses are

recognized in results for the period. The non-tinancial asset amounts, except for deferred tax assets are tested, at least, annually to determine whether there is any
indication of impairment.

m) 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.

n) Current and long-term li s

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

0) Contingent assets and líabilities 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, generally 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 ltigation, 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 may be changed in the future, based on the progress of each suit; When the
probability of loss is deemed possible, no provision is recorded and the related suits are merely disclosed;

Legal obligations (tax and social security): these 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.

p) 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$ 240 (for the year end) and social contribution – 15%. Further, deferred tax assets are recorded on temporary differences based on the assumplion 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.

a) Profit sharing

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

The general assumplions 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”.

1) Use of estimates
The preparation of financial statements requires Management to make estimates and assumptions, to the best of its judgment, that afíect the reported amounts of
certain assets, liabiliies, 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, Amortisation of deferred charges and reserves for contingences
and others. Actual results may differ from these estimates.

s) Net income per share

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

14

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR)
FINANCIAL INSTITUTION Data Base – 03/31/2014

102056-7 BANCO PINE S/A 62.144.175/0001-20
(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

PIN

4. CASH AND CASH EQUIVALENTS

Cash 45,322 211,602 53519 not
Short-term interbank investments ‘ 1,292,792 516,309 1,294,974 517,428
Total cash and cash equivalents 1,339,114 73m 1,348,798 729,039

Those aro ransactions wi maturlos ar ho original investment dato equal o or les than 90 days.

5. INTERBANK INVESTMENTS

Interbank investments at March 31, 2014 and December 31, 2013, are comprised as follows:

3/31/2014 |

From 11o 3 years From 5 to 15 years

[Security/Maturity

Investments in purchase and sale commitments

Ox portfolio position
National Treasury Bis (LTN) – – – 160,000 – 160,000
Foderal Treasury Notes (NTN) – – – – 198,570 198,570
Financial Treasury Notes (LFT) – 250,004 – – – 250,004
Subtotal – 250,004 – 160,000 198,570 608,674
Position Financed –
Federal Treasury Notes (NTN) – – – – 110,322 110,322
Subtotal – – – – 110,322 110,322
Total investments in purchase and sale

commitments – 250,004 – 160,000 308,992 718,996
Interbank deposi
Own portfolio
Floating 14,797 21,189 3161 – – 39,187
co – 19,938 – – – 19,938
Total interbank

deposit. 14,797 35,127 3151 – – 53,075
Foreign currency investments
Forign currency investments 573,796 – – – – 579,796
Total foreign currency investments 579,796 – – – – 579,796
Total interbank.

investments 508,593 285,191 3151 160,000 308,992 1,345,867

From 11o 3 years AS

ATA

Investments in purchase and sale commitments

Ox portfolio position
National Treasury Bis (LTN) – – – 160,000 – 160,000
Foderal Treasury Notes (NTN) 2,183 – – – 198,570 200,859
Financial Treasury Notes (LFT) – 250,004 – – – 250,004
Subtotal 2183 250,008, – 160,000 198,670 610,857
Position Financed
Federal Treasury Notes (NTN) – – – – 110,322 110,322
Subtotal – – – – 110,322 110,322
Total investments in purchase and sale
commitments. 2183 250,008, – 160,000 308,992 72,179
Interbank depos!
Own portfolio
Floating 14,797 21,189 3151 – – 39,197
co – 19,998 – – – 19,938
Total interbank.

deposit 14,797 35,127 3151 – – 53,075
Foreign currency investments
Forign currency investments 579,796 – – – – 579,796
Total foreign currency investments 579,796 – – – – 579,796
Total interbank.

investments 590,776 285,191 3151 160,000 308,992 1,348,050

[Security/Maturity AS ES

Investments in purchase and sale commitments,

Own portfolio position
National – 71509 50.018 – 121,617
Federal – – – 62305 62,305
Total investments in purchase and sale

commitments. – 71,599 50,018 62,305 183,922
Interbank deposi
Own portfolio
Fiating 9,264 35,144 . – 44,408
cor – 13,791 . . 13,791
Total interbank:

deposits 9,264 48,935 – – 58,199

15

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR)
FINANCIAL INSTITUTION Data Base – 03/31/2014

102056-7 BANCO PINE S/A. 162.144.175/0001-20

PIN

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION
Foreign currency investments

Foreign currency investments 425,571 – – – 425,571
Total foreign currency investments 425,571 – – – 425,571
Total interbank

investments 434,835 120,594 50,018 62305 667,692

[Security/Maturity AS EE

Investments in purchase and sale commitments

Own portfolio position
National sio 71509 50.018 – 121,927
Federal – – – 62.305 62,305
Total investments in purchase and sale

commitments. 71,599 50,018 62,305 184,232
Interbank deposi
Own portfolio
Flating 9,264 35,144 – – 44,408
cor – 13,791 . . 13,791
Total interbank

deposits 9,264 48,935 – – 58,199
Foreign currency investments
Foreign currency investments 425571 – – – 425571
Total foreign currency investments 425571 – – – 425571
Total interbank:

investments 50,018 62,305 668,002

6. MARKETABLE SECURITIES AND DERIVATIVE FINANCIAL INSTRUMENTS
a) Marketable securities

The securities portfolio at March 31, 2014 and December 31, 2013 comprised as follows:

CAT
From3to – FromitoS LO
MES From 3 to 5 years

Available-tor-sale securities:

Own portfolio:
National Treasury Bills (LTN) – – – – – – –
Federal Treasury Notes (NTN) – 73,034 23,257 4821 – 144,502 154,282
Debentures – 60,693 87,637 – 128,330 129,570
Promissory note 45,428 19,559 – – – 64,987 54,868
Recoivables investment fund
shares – 17,496 197,994 – 215.490 215,430
Subtotal 45.428 92,593 101,386 319,842 – 553,249 564,150
Subject to

guarantees:
Federal – – 172,632 – – 172.692 185,629
Subtotal – – 172,632 – – 172,632 185,629,
Total available-for-sale

45,428 92,593 274,018 319,842 – 725,881 749,779

Trading securitles
Own portfolio:
National Treasury Bills (LTN) 199,820 5,504 – – – 205,424 205,473
Federal Treasury Notes (NTN) – – 4.458 31,375 3,662 39,495 41,190
Debentures – 32219 117,539 36879 – 186,637 181,551
Investment fund shares 184,311 – – – – 184,311 184,811
Eurobonds 22,631 – – – – 22,681 22,691
Subtotal 406,862 37,723 121,997 68,254 3,662 638,498 635,156
Subject to repurchase

commitments:
LIN – 40,153 – – – 40,153 40,243
NIN – 80,338 52,551 55,757 15,468 204,114 212,386
Debentures – 19,770 1931 110.472 – 192,173 129,582
Eurobonds – – – – – – –
Subtotal – 140,261 54,482 166,229 15,468 376,440 382,211
Subject to

guarantes:
LIN – – – – – – –
NIN – – – – – – –
Subtotal – – – . – . –
Total trading

securities 406,862 177,984 176,479 234,483 19,130 1,014,938 1,017,367
Total securities 452,290 270,577 450,497 548,325 19,130 1,740,819 1,767,146

16

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR)
FINANCIAL INSTITUTION Data Base – 03/31/2014

102056-7 BANCO PINE S/A. 162.144.175/0001-20

PIN

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

3131/2014]
CA

EE E
ES CTS

Available-tor-sale securitles:

Own portfolio:
National Treasury Bis (LTN) – – – – – – –
Federal Treasury Notes (NTN) – 78034 23257 48211 – 144,502 154,282
Debentures – 60,693 67,687 – 128,330 129,570
Promissory note 45428 19,559 – – – 64,987 64,868
Subtotal 45428 92598 83,950 115,48 – 337,819 348,720
Subject to

guarantees:
Federal Treasury Notes (NTN) – – 172,632 – – 172,582 185,629
Subtotal – – 172,632 – – 172,632 185,629
Total avallable-tor-sale

45,428 92,593 256,582 11548 – 510,451 534,249
Trading securities 1%:
Own portfolio:
Financial Treasury Notes (LFT) – 36835 – 90,503 – 127,338 127,838
National Treasury Bills (LTN) 199,820 5504 – – – 205.424 205,479
Federal Treasury Notes (NTN) – – 4,458 31,375 3,662 39,495 41,190
Debentures – 32219 117,539 36.879 – 186,637 181,551
Investment fund shares 184,311 – – – – 184,311 180,811
Eurobonds 22.691 – – – – 22631 22.691
Subtotal 406,862 74,558 121,997 158,757 3,662 765,896 762,494
Subject to repurchase

commitments:
National Treasury Bis (LTN) 40158 – – – 40,153 40,243
Federal Treasury Notes (NTN) – 80,338 52,551 55,757 15.468 204,114 212,886
Debentures 19770 1981 110.472 – 132,173 129,582
Subtotal – 10261 54,482 166,229 15.468 376,440 382,211
Total trading

securities 406,862 214,819 176,479 324,986 19,130 1,142,276 1,144,705
Total securities 452200 307412 433,061 440,884 19,130 1,652,727 1,579,054

PRA
CA

E TO
[Security/Maturity 12 months TEO

Available-tor-sale securitles:

¡Own portfolio:
National Treasury Bills (LTN) 89,966 – – – – 89,966 89,981
Federal – 73,077 85,138 48,089 – 206,304 216,974
Debentures – – ma – 64,249 64,962 66,976
Promissory note – 44,686 – – – 44,686 44,459
Receivables investment fund
shares – 20,446 183,484 – 203,980 209,980
Subtotal 89,966 117,763 106,297 281,578 64,249 609,848. 622,320
Subject to

guarantees:
Federal – – 109,579 – – 109,579 117,415
Subtotal – – 109,579 – – 109,579 117,415
Total available-for-sale

securities 89,966 117,763 215,876 281,578 64,249 719,427 799,735
Trading securities ‘”
Own portfolio:
LTN 349,869 30,940 4.980, – – 385,739 385,916
NIN 8,125 46 33,707 37.788 8,305 87.971 89,758
Debentures. – 9,424 51,928 88,448 – 149.800 135,546
Investment fund shares * 180,981 – – – – 180,381 180,381
Eurobonds a 70 – – 9,382 9,493 9,493
Subtotal 538,466 40,480 90,565 126,236 17,687 813,384. 801,094
Subject to repurchase

‘commitments:
LTN – 161,579 40,217 – – 201,796 202,421
NIN – 80,339 18.969 48,089 10.983 158,380 163,429
Debentures – 46,180 10.800 117.924 – 174,404 186,079
Eurobonds 132 128 2,686 – 13,546 16,492 16,492
Subtotal 132 288,226 72,172 166,013 24,529 551,072 568,421
Subject to

guarantees:
LIN – 1,074 – – – 1,074 1,079
NIN – – 3,476 – – 3,476 3,542
Subtotal – 1,074 3,476 – – 4,550 4,621
Total trading

securities 538,598 329,780 166,213 292,249 42,166 1,369,006 1,374,136
Total securities 628,564 447,543 382,089 523,822 106,415 2,088,433 2,113,871

17

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR) Brazilian corporate le
FINANCIAL INSTITUTION Data Base – 03/31/2014
102056-7 BANCO PINE S/A 62.144.175/0001-20

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

CA

Upto 3 months – FromSto – Fromito3 ENS
12 months ES

Available-tor-sale securitie:

Own portfolio:
LIN 89,966 – – 89,968 89,981
NIN – 73,077 85,138 48.089 206.304 216,974
Debentures. – 713 – 64,249 64,962 66,976
Promissory note – 44,686 – – 44,688 44,459
Subtotal 89.966 117,768 85,851 48,089 54,249 405,918 418,390
Subject to

guarantees:
NIN – 109,579 – 109,579 117,415
Subtotal – – 109,579 – – 109,579 117,415
Total available-for-sale
securi 89.966 117,768 195,430 48,089 54,249 515,497 535,805
Trading securities (”
Own portfolio:
LET – 30,070 8715 147,552 186,387 186,887
LIN 349,869 30,940 4,980 – 385,739 385,916
NIN 8,125 48 33,707 37,788 8,305 87m 89,758
Debentures – 9,424 51,928 88,448 149,800 195,548
Investment fund shares 108,693 – – 108,693 108,693
Eurobonds 9 70 – – 9302 9.493 9.498
CDB 235 – – 235 235
Subtotal 467,013 40,480 120,635 134,951 165,189 928,268 915,978
Subject to repurchase
commitments:
LIN – 161,578 40217 – 201,796 202,421
NIN – 80,339 18,969 48.089 10,983 158,380 169,429
Debentures – 46,180 10,300 117,924 174,404 186,079
Eurobonds 192 128 2,686 – 19,546 16,492 16,492
Subtotal 132 288,226 72,172 166,013 24,529 551,072 568,421
Subject to
guarantees:
LIN – 1.074 – – 1,074 1,079
NIN – 3,476 – 3,476 3,542
Subtotal – 1,074 3,476 – – 4,550 4,621
Total trading
securit 467,145 329,780 196,283 300,964 189,718 1,483,890 1,489,020
Total securities SST/11 447,543 391,713 349,053 253,967 1,999,387 2,024,825

TU Secuies classiled in the “trading” category aro siated based on hair maturity dates.

Fl The shares are composed ol AS 180.381 in the Individual and AS 110.593 in he Consolidated (AS 328,501 in he Individual and Consoldated on December 31, 2012, not taking into consideration a valuaion alowance ol fund shares.
multimarka! investment o! AS 1.554), ol which: () RS 11.375 in Individual and Consolidated (RS 251.204 in he Individual and Consalidated on December 31, 2012) Pine CM Fund Mulimarkel Private Credi, (1) RS 96.399 in Individual and
Consolidated (AS 87,297 the Individual and Consolidated on December 31, 2012) Pine AB Capital Fund Mulimarket Phivate Credit (on December 31, 2012 he quotas were composed by FICFI Mulimarket Credi Private Investment
Abroad), and (l) R$ 71.867 in consolidated FIP Rio Corporato – Investment Fund Participation. Tho assots comprising funds aro, most, debentures, promissory notes and cefictos ol recolvablos ttalng R$ 558.025 (RS 756,027 on
December 31, 2012J/nate 7a).

At March 31, 2014 and December 31, 2013, there were no securities classified as “held to maturity”.

As established in Article 5 of BACEN Circular 3068/08 securities may only be reclassified on the date of the half yearly balance sheet. At December 31, 2013, were
reclassified securities “avaiable for sale” to “trading” in the amount of R$18,779, generating a negative impact on the gros amount of R$ 1,347 , R$ 808 net of tax
recorded in “Income from operations with securities.”

The market values of the securities recorded in the “available for sale” and “trading” categories were determined based on the prices and rates braded at December
31, 2013 and 2012, disclosed by the Brazilian Association of Financial and Capital Market Institutions (ANBIMA), BM8FBovespa S.A. – – Bolsa de Valores,
Mercadorias e Futuros, by the 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$20.308 on an Individual and Consolidated basis (December 31, 2012 -loss of R$ 843 on both an Individual and
Consolidated basis), affecting the equity of the Institution by R$12.185 on an Individual and Consolidated basis (December 31, 2012 – RS 514 on an Individual and
Consolidated basis), net of tax effects. The mark-to-market adjustment of the securities recorded in the “trading” category resulted in a loss adjustment of R$ 5.130 on
an Individual and Consolidated basis (December 31, 2012 – gain adjustment of RS 47,137 in both the Individual and Consolidatea) in results.

b) Derivative financi

i) Utilization 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 ¡s transparent and permits the Institution to offer customers the products which
are most appropriate to their specific needs.

18

FEDERAL PUBLIC SERVICE

BRAZILIAN SECURITIES COMMISSION (CVM) PIN

Quarterly Information (TR) Brazilian corporate legi
FINANCIAL INSTITUTION Data Base – 03/31/2014
102056-7 BANCO PINE S/A 62.144.175/0001-20

(A free translation of the original in Portuguese)

06.01 – NOTES TO QUARTERLY INFORMATION

The majority of the derivative contracts negotiated by the Institution with customers in Brazil, comprise swaps, fonward transactions, options and futures registered at
BM8FBovespa or CETIP S.A. – Balcáo Organizado de Ativos e Derivativos. The derivative contracts traded 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 portfolio terms.

and

and lions used to ine fair value

The Institution uses the market reference rates disclosed principally by BM8FBovespa, 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 volatilties 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 categories
values, maturities, cost and fair values.

index, counterparty, trading market, notional

At March 31, 2014 and December 31, 2013, the derivative financial instrument positions are as follows:

NOTE
E) Ta

AS

ASSETS
Swap – difference recelvable 54,399 234,063 288,462 82094 270,129 352,163,
Forward contracts- recevable 223,206 18,872 241,578 72,953 17,853 90,806
Premiums on unexercised options 53,894 3,772 57,606 72389 – 72,389
Total receivable 331,439 256,207 587,646 227,376 287,982 515,958

LIABILITIES

Swap – difference payable (15,792) (22881) (88,679) (62,138) (25.464) (57,602)
Forward contracts- payable (48,301) (6,190) (53,491) (68,049) (4219) (72262)
Premiums on wrtten options (49,642) (681) (50,529) (60,172) (en, (60,969)
Total payable (119,735) (28,952) (142,687) (160,359) (60,480) (190,839)
Net amount 217,704 227,255 444,959 67,023 257,502 324,525

v) Derivative financial instruments by index

ETA

CS Em

4,680,685 288,462 –
354,151 203.412
995,322 85,050
31212 –
Lia 4,680,685 – (58,061)
Interest 2577083 – (84,765)
Currency 2,103,602 – (9.206)
Net amount 208462 (68,061) 1,442
259,675 –
259,875 –
Posigáo passiva: 259,675 (612)
duros 259,75 612)
Valor líquido (612) (612)
Forward
Asset posi 7,404,700 241,578 –
Interest 4,967,144 174303
Currency 2,192,597 40,774
Commodities 305.019 26,501
Liability position: 7,404,700 (63,491)
Interest 2271,729 – (45,829)
Currency, 507231 – (6.555)
Commodities 50,600 – (4,119)
Net amount 241,578 (63,491) 166,456
Premium on unexercised options: 1,368,055 57,606 –
Currency 767,665 820
Commodities 600,390, 49,365
Premiums on written options: 1,090,024 (60,523)
Currency 446,968 – (6.956)
Commodities 589.058 – (44,567)
Net amount 57,606 (60,523) (6,434)
Total receivable (payable) and gain (loss) 587,646, (142,075) 163,862

19

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR)
FINANCIAL INSTITUTION

Brazilian corporate le:
Data Base – 03/31/2014

PIN

102056-7 BANCO PINE S/A.

162.144.175/0001-20

(A free translation of the original in Portuguese)

06.01 – NOTES TO QUARTERLY INFORMATION

“Swap”
Risco de mercado
Posigáo ativa:
Juros

Moeda

Renda variável
Posigáo passiva:
Juros

Moeda

Valor líquido

Forward contracts
“Asset position:
Interest

Currency
Commodities
Liability position:
Interest

Currency
Commodities

Not amount

Options
Premium on unexercised options:
Currency

Commodities

Premiums on written options:
Currency

Commodities

Not amount

Total receivable (payable) and gain (loss)

vi) Deriv

Interbank market:

Currency
Commodities

Future exchange coupon:
Exchange Swap
Total

Interbank market:
Currency

Commodities

Future exchange coupon:
Exchange Swap

Total

vii) Derivative financial instruments by maturity

ive financial instruments – futures contracts

ME
O

ERE
AS

Notional amount

Pre

recelvable

5:581,191 352,163
3,408,528 179,397
2,130,411 172,770
42252 56
5:581,191 .
3,533,561 –
2,047,630 –
352,163

6,595,674 90,806
4,161,379 9,789
2,341,952 80384
92,343 633
6,595,674 –
1,930,135 –
4,623,121 –
42.418 –
90,806

1,408,454 72,389
766,684 23,108
841,770 49.281
1,623,553 –
980,528 –
643,025 –
72,389

515,358

Purchase

Notional amount

E 29,429
29,748 358,739
1,047,186 4,168,300
– 4,121,027
5,927,819 10,831,929

Purchase

AN

2,479,348 2,316,329
1,840,127 817,256
114,363 146,149
2,584,409 3,709,727
– 3,207,174
7,018,442 10,196,635

From 1to 3 years

TO

AS

(67,602)
(28,160)

(60.969)
(32,363)
(28,606)
(60,969)

(190,833)

pan

EN
AS
(Payable)

EN
AS
(Payable)

285

14,091

(22.419)
9.418
1,375

TAS

From 5 to 15 years

Result

230,856

(59,919)

48,163
239,100

(42,887)

5,117,445
1,310,684
7,181,767

2,025,383
1,003,757.
8,575,908

RO

260,895 1,037
69.950 13,708
757.980 129,509

MN

1,458,593
4,306,823
1,888,484
6,672,198

2,014,047
1,998,371
1,136,623
9,180,127

20

EE
From 1to 3 years

909,187 202,264

289,443 1,037

6.900 –

972,227 204,473

From 5 to 15 years

797.100

186,112

5,381,191
6,595,674
3,032,007

17,215,077

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)
Quarterly Information (TR)

FINANCIAL INSTITUTION Data Base – 03/31/2014
102056-7 BANCO PINE S/A 62.144.175/0001-20

PIN

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

viii) Derivative financial instruments by trading market

At March 31, 2014 and December 31, 2013, the swaps, forward contracts and options, whose notional values are recorded in a memorandum account are comprised
as follows:

ETA Ea
Forward
o AL ES contracts OS
Exchang 133,592 212,264 – 1,628,974 16,759,748 173,603 206,613 1,929,544 17,187,338
BMEFBOVESPA 110,300 – 891,400 16,357,477 110,300 – 1,405,588 16,954,565
Exchanges abroad 23292 212,264 795,174 402271 63,308 206,613 523,957 232,778
OTC 4,547,088 7,192,436 771,505 – 5,407,588 6,389,061 1,102,463 27,739
Financial institutions 669,125 499,027 – – 1,609,369 230,105 – 27,739
Companies 3,877,968 8:693,409 771,505 – 3,798,219 6,158,956 1,102,463 –
Total 4,680,685 7,404,700 – 2,398,079 16,759,748 5,581,191 86,595,674 3,032,007 17,215,077

ix) Amount and type of guarantee margin

The margin amounts deposited in guarantee at March 31, 2014 and December 31, 2013 are comprised as follows:

aa

Guarantee margin – Exchange clearing house – BMC.

National Treasury Bils (LTN) – 1,074
Federal Treasury Notes (NTN) 40,999 3,475

40,999 4,549
Subtotal

Guarantee margin – BMF8Bovespa
Federal Treasury Notes (NTN) 191,633 107,486
Subtotal 131,609 107,486

Guarantee margin – Other

Federal Treasury Notes (NIN) – 2.094
Subtotal – 2,094
Total 172592 119,120
x) Cash flow hedges

On March 28, 2014 USD 115 million was acquired segregated into two parcels, through the Inter American Development Bank- IDB, converted at the exchange rate of
R$ 2.26/USD on that date, resulting in the loan amount of R$ 260 million. This loan has a grace period for the principal, having its settlement on February 15 and
August 15, 2019, respectively. The bank opted to protect its exposure to the risks arising from this transaction through a cash flow hedge.

The effectiveness of the hedge portfolio is in accordance with the provisions of Circular No. 3,082, from 30/01/2002, issued by BACEN and the structure of hedge
accounting has been established:

3/31/2014 |

AS

LE

259,875 (887) 260,245
Hedge de Repasses no Exterior
Total 259,675 (367) 260,245

7. CREDIT PORTFOLIO, GUARANTEES PROVIDED AND SECURITIES WITH CREDIT RISK
We present below a summary of the loan operation portfolio information at March 31, 2014 and December 31, 2013:

a) By type of loan:

Publ sector 19219 16391 19219 18,591
Working capital 2,850,615 3,188,610 2,885,156 3,250,657
Resolution n* 3.844 (old Resolution n* 2.770) 39,262 40,142 39,262 40,142
Overdraft account 11,612 9,930 11.612 9.980
BNDES/FINAME onlending 1,109,029 1,068,369 1,103,029 1,068,369
Direct consumer financing (CDC) – vehicles 7,426 9876 7,426 9,876
Foreign currency financing 632,297 398,554 632,297 399,554
Export financing 825,094 949,241 825,094 944,241
Buyer financing (Compro) – – – –
cession o credits 376,812 – 376,812 –
Subtotal – Loan operations 5,864,806 5,679,713 5,899,847 5,735,760
Deblors for purchase of assets ‘” 221,260 138,718 221,260 199,713
Advances on foreign exchange contracts and income receivable 342,866 397,934 342.866 397,904
Notes and credits recelvable ‘” 62,056 114,243 62,056 114,248
Credit portfolio 6,490,988 6,319,603 6,525,529 6,381,650
Loans for imports 14,197 51,212 14,137 51212
Guarantees provided 2,905,829 2,909,197 2,905,829 2,909,197
Coobiigations in loan assignments – – – –
Guarantees provided and responsibilties 2,919,466 2,960,409 2,919,466 2,960,409
Notes and credits recevable ‘” 32,002 30,240 32,002 30,240
Corporate bonds (% 619,931 558,025 619,891 558,025
Securities with credit risk 645,339 588,265 645,833 588,265

Total expanded portfoli 10,055,787 9,868,277 10,090,328 9,930,324

v’ Recorded in “Other recelvablas- sundry” (Nate Ga).
** Recorded in “Foreign exchango portal” (Noto 8)
1 Mosil debentures, promisscry notes and receivables cericaes in he funds” porolio and in Banco Pines portal (Note Ba)

21

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)
Quarterly Information (TR)

FINANCIAL INSTITUTION Data Base – 03/31/2014
102056-7 BANCO PINE S/A 62.144.175/0001-20

PIN

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION
b) By maturity:

Up to 3 months 1,450,504 2259 24,783 3559 1,475:467 2273
From Sto 12 months 2,504,052 4055 44,861 64.41 2,548,913 20.81
From 110 3 years 1,742,019 27,3 – – 1,742,019 2684
From 3 to 5 years 409,426 675 – – 433,426 658
From 5to 15 years 191,163 298 – – 191,163 294
Total credit portfolio 6,421,344, 100.00 596 100.00 6,490,988 100.00
Up to 3 months 407,045 19.95 1.073 100.00 408,118 19.98
From Sto 12 months 975159 3941 – – 975.159 33.40
From 11o 3 years 897,941 2871 – – 897,941 28:70
From 3to 5 years 696,850 2388 – – 696.850 29:87
From 5to 15 years 1,398 005 – – 1.398 0.05
Total guarantees provided and responsibiities 2,918,399 100.00 1.078 100.00 2,919,466 100.00
Up to 3 months 55,708 ass 1,768 100.00 57.476 E]
From Sto 12 months 71,548 1112 – – nes 1.09
From 110 3 years 241,956 37.50 – – 241,956 3749
From 3 to 5 years 244,119 3798 – – 244,119 3783
From 5to 15 years 30,294 469 – – 30.234 458
More Than 5 years – – – – – –
Total securities with credit risk 649,565 100.00 1,768 100.00 645,333 100.00
Total expanded portfolio 9,983,302 72,485 10,055,787

EEN
Up to 3 months TEA aos 559 TAT5:927 2282
From Sto 12 months 2,595,395 44,861 5441 2,680,256 4107
From 110 3 years 1,744,757 – – 1,744,757 2674
From 310 5 years 499,426 – – 433,426 65%
From 5to 15 years 191,163 – – 191,163 292
Total credit portfolio 6,456,885 596 100.00 6,525,529 90.99
Up to 3 months 407,045 19.95 1.073 100.00 408,118 19.98
From Sto 12 months 975159 3941 – – 975.159 33.40
From 110 3 years 897,941 2871 – – 897,941 28:70
From 3 to 5 years 696,850 2388 – – 696.850 29:87
From 5to 15 years 1,398 005 – – 1.398 0.05
Total guarantees provided and responsibiities 2,918,399 100.00 1.078 100.00 2,919,466 100.00
Up to 3 months 55,708 ass 1,768 100.00 57.416 as
From Sto 12 months 71,548 112 – – nes 1.09
From 11o 3 years 241,956 37.50 – – 241,956 3749
From 310 5 years 244,119 3798 – – 244,119 3783
From 5to 15 years 30,294 469 – – 30.234 458
More Than 5 years – – – – – –
Total securities with credit risk 649,565 100.00 1,768 100.00 645,333 100.00
Total expanded portfolio 10,017,843 72,485 10,090,328

12/31/2013

Up to 3 months 1,430,068 2275 1618 90.54 1,461,686 23:13
From Sto 12 months 2,302,093 36.53 3264 9.36 2,305,357 36:48
From 110 3 years 1,957,584 31:15 – – 1.957.584 30.98
From 310 5 years 495,585 6s9 – – 435.585 689
From 5to 15 years 159,391 254 – – 169,391 252
Total credit portfolio 6284,721 100.00 34,882 100.00 6:319,503 100.00
Up to 3 months 409,905 19.85 – – 409.905 13.85
From Sto 12 months 1,112,950 3758 – – 1,112:950 37.59
From 110 3 years 656,780 2219 – – 656.780 22:19
From 310 5 years 694,853 2347 – – 694,853 23:47
From 5to 15 years 85392 250 – – 85.921 290
Total guarantees provided and responsibiities 2,960,409 100.00 – – 2,960,409 100.00
From Sto 12 months 100,289 17.05 – – 100,289 17.05
From 110 3 years 190,858 3295 – – 193,858 3295
From 310 5 years 176,964 29.98 – – 176364 29:98
From 5to 15 years 109,884 18.58 – – 109,884 18.58
More Than 5 years 7870 194 – – 7870 1.34
Total securities with credit risk 588,265 100.00 – – 588265 100.00
Total expanded portfolio 9,893,395 34,882 9,868,277

22

FEDERAL PUBLIC SERVICE

BRAZILIAN SECURITIES COMMISSION (CVM)
Quarterly Information (TR)

FINANCIAL INSTITUTION Data Base – 03/31/2014
102056-7 BANCO PINE S/A 62.144.175/0001-20

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

Falling due
Up to 3 months 1,430,088

From 3to 12 months 2,814,769 36.47 3,264 9.36 2,318,033 36:32
From 1 to 3 years 2,006,855 31.62 – – 2,006,955 31.45
From 305 years 435,585 686 – – 435,585 68%
From Sto 15 years 159,391 251 – – 159,391 250
Total credit portfolio 6,346,768 99.99 34,882 100.00 6:381,650 100.00
Upto3 months 409,905 19.85 – – 409,805 13.85
From 3to 12 months 1,112,950 37.59 – – 1,112,950 37.59
From 1 to 3 years 656,780 22:19 – – 656,780 22:19
From 30 5 years 694,853 23.47 – – 694,853 2347
From Sto 15 years 85,921 290 – – 85,321 290
Total guarantees provided and responsibilities 2,960,409 100.00 – – 2,960,409 100.00
From 3to 12 months 100,289 17.05 – – 100,289 17.05
From 1 to 3 years 199,858 32:95 – – 198,858 3295
From 305 years 176,364 29.98 – – 176,364 29.98
From Sto 15 years 109,884 18.68 – – 109,884 18.68
More Than 5 years 7,870 134 – – 7,870 1.34
Total securities with credit risk 588,265 100.00 – – 588,265 100.00
Total expanded portfolio 9,895,442 34,882 9,930,324

c) By business activity:

Sugar and ethanol 1,224,320 1,391,568 1,226,004 1,397,413
ivi construction 1,922,155 1,388,464 1.827,780 1,395,441
Electric and renewable energy 1,196,360 891.951 1,196,360 891,981
Agriculture 1,006,595 871.830 1,013,896 884,798
Bulding and engineering – Infrastructure 809,890, 846.040 812542 859,056
Transportation and logístics 475480 480,410 478,589 484,209
Specialized services 426512 478,851 428,504 476,545
Metal products 424,182 450,883 426,709 457,250
Vehicles and parts 474,704 437,040 474,704 437,040
Tolecommunications 361,567 309218 369,302 358,236
Foroign trade 278877 298512 218,877 298,612
Chemical and petrochemical 319,590 278,740 319,980 279,740
Beverages and tobacco 205,161 235210 206424 236,890,
Construction materia and decor 160,479 208,102 160,479 208,102
Ratalltrado. 245,506 192940 245,507 192,940
individuals 189,181 187,718 191,940 191,164
Foodstus 216315 164,348 216315 164,948
Meat processing 140,951 128,015 140,961 128,015
Steel products 98,228 103299 101,594 107,629
Financial institution 84,409 95,142 84.439 95,142
Paper and pulp 36,307 93.445 36,807 99,445
Water and sanitaton 47,730 47,185 47,730 47,185
Information technology 7,448 44,177 7,443 44,177
Recreation and tourism 48,490 41,576 48,489 41,576
Plastic and rubber 47,360 40.485 47,360 40,455
Toxiles and clothing 36,059 38.487 36,519 39,407
Wholesale trade 29,647 20,332 29,548 26,392
Pharmaceuticals and cosmetios 17,892 18,086 17,892 18,086
Mechanics 38,766 17,986 38,766 17,986
Medical services 20,871 15381 20,871 15391
Electronios 8754 10,565 8754 10,565
Mining 5120 3191 5120 3191
Leather and footwear 20,091 20,091

Communications and printing 6422 6422

Total expanded portfolio 10,055,787 9,868,277 10,090,328. 9,930,324

d) Credit portfolio by risk level and

lowance, in accordance with Resolution 2682/99:

EJ
Total Allowance EM
AR 1.127.585 1,127,585 – 1,130,234 – 1,130,234 –
A 2,056,708 – 2,056,703 10,283 2,062,928 – 2,062,928 10,315
8 2,202,162 6 2202168 22.022 2,229,157 6 2,223,163 22,291
o 692.456 802 701,058 21,032 897,127 8,602 705,729 21,172
D 224,423 16,167 240,590 24,059 224,423 16,167 240,590 24,059
E 35.429 24 35,453 10,636 35429 24 35,458 10,636
F 25,118 36 25,154 12,577 25,118 36 25,154 12,577
6 49,996 1,507 51,508 36.052 49,997 1,507 51,504 36,058
H 7472 43,302 50,774 50,774 7472 43302 50,774 50,774
Total 6,421,244 69,644 6,490,988 187,435 86,455,885 69,644 86,525,529 187,817

23

FEDERAL PUBLIC SERVICE

BRAZILIAN SECURITIES COMMISSION (CVM) PIN

Quarterly Information (ITR) Brazilian corporate legi
FINANCIAL INSTITUTION. Data Base – 03/31/2014
102056-7 BANCO PINE S/A. 162.144.175/0001-20

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

Tndividual

EY Total Allowance Past due

AR 1,003,915 1,007,284 1,007,284

A 2,081,694 – 2,081,694 10,408 2,089,470 – 2,089,470 10,448
8 2,312,498 337 – 2,312,893 23,129 2,347,435 337 2,347,772 23,478
o 530,407 30,507 560914 16.827 539,519 30,507 570,028 17,101
D 199,692 32 193724 19,372 199,692 32 199,724 19,372
E 43.010 940 43,950 13,185 43,010 940 43,950 19,185
F 24,924 40 24,964 12.482 24,924 40 24,964 12,482
6 49,576 33 49,609 34,727 49,576 33 49,609 34,727
H 45,007 2.993 48,000 48.000 51,858 2.993 54,851 54,851
Total 6,284,721 34,882 – 6,319,603 178,130 6,346,768 34,882 6,381,650 185,644

e) By concentration level:

NONE 1-1 ETE ESO
RR or
PS PS
Largest borower 276,851 275 27120 275 276,851 274 271.259 273
2nd to 10th 1,549,706 15:41 – 1,519,180 16:39 1,549,706 16:36 1,519,180 15:30
11th 0204 1,124,208 11.18 1,095,399 110 1,124,209 11.14 1,096,399 11.03
2istto 50h 1,865,413 18:55 – 1874414 18.99 1,865,413 18.49 1,874,414 18.88
Ststto 1001h 1.787.419 17.78 1,748,250 17.72 1,790,178 1774 1,751,696 17.54
Other borrowers 3,462,190 3438 3,359,785 34.05 389,971 2453 3,418,396 34.42
Total expanded portfolio 10,055,787 100.00 – 9,868,277 100.00 10,090,328 100.00 9,930,324 100.00

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

Agricultural 50; 73210
Housing – – 662
Manufacturing 2,070,931 2,077,900 2,041,180
Commerce 819,508 821,292 805,981
Financial intermediation 104,042 . 107,508 126,774
Other services 6.520,57 6,535,719 6,475,924
Individuals 490,408 406,593 490,408 406,593
Total expanded portfolio 10,055,787 9,868,277 10,090,328 9,930,324
9) Change in the allowances for loan losses and other loan losses, in accordance with Resolution 2682/99:

Individual

CS

oía

Opening balance 178,130
Addons /Reversals 19,560
Ammount written off (10.079)
Exchange variation (1) (176)
Closing balance 187,435

LN

Opening balance 185,644
Addons /Reversals 19,560

Ammount written off (10.079) (107,502)
Allowance-FIDC (7132) 7,513
Exchange variation ‘” (176) 496
Saldo final 187,817 185,644

Exchange varañon on e alowanoaToroan ses (PDD) ol he verse branch, class in ho “Other operaing expenses” acount in he statement al operations.

h) Credit recoveries

For the period end March 31, 2014, credits previously written off as loss were recovered in an amount of R$ 2,012 (At March 31, 2013 – R$ 3,079).
i) Renegotiation of contracts

At March 31, 2014, renegotiated contracts totaled R$174,543 (December 31, 2013 – R$ 163,543). The original ratings attributed to these contracts were maintained.

]) Sale or transfer of financial assets

i) Operations with substantial transfer of risks and benefits :
For the period ended March 31, 2014, no loans were assigned without coobligation (March 31, 2013 – R$ 5,559). At March 31, 2013 These assignments generated a
loss in relation to their face value of R$ 5,509 , without discounting the allowance for loan losses in the amount of R$ 5,559. The results of the assignments are

recorded in the “Other operating income/expenses” account”. Additionally, contracts previously written off as a loss of R$ 523 were assigned. For the period ended
March 31, 2013, these assignments generated a gain of R$ 50, recorded in “Loan Operations”.

Operations with substantial retention of risks and benefits:

As of January 2012, as required by CMN Resolution 3533/08, the accounting records are to be made considering either the retention or not of the risks and benefits in
the sale or transfer of financial assets.

In the period ended March 31, 2014 were assigned operations for Pine Agro FIDC in the amount of R$ 103.146 (R$181.081 at December 31, 2013), represented by:

24

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR)
FINANCIAL INSTITUTION

Brazilian corporate le:
Data Base – 03/31/2014

PIN

102056-7 BANCO PINE S/A. 162.144.175/0001-20

(A free translation of the original in Portuguese)

06.01 – NOTES TO QUARTERLY INFORMATION

Debentures transferred
Lending operations assigned – Loans
Lending operations assigned – Financing
Total

8. FOREIGN EXCHANGE PORTFOLIO

Exchange purchases pending settlement
Rights on exchange sales

Income receivables

Advances in local currency received
Exchange sales pending settlement
Liablíies from exchange purchases
Advances on foreign exchange contracts
Total

9. OTHER RECEIVABLES – SUNDRY

a) Other receivables – Sundry

These are comprised as follows:

Individual e Consolidated

ETE ETA

146,562 146,562 148,769 148,769
229,761 229,751 217,766 217,766
388,111 388,111 377,866 377,866

Other receivables
E

304,158 998ta – –
6,096 6.729 – .
(28,565) . – –
– – 303,476 94,959

– – 336,770 391,206

– . (836,770) (891,205)
618,961 525,129 303,476 94,959

“Advances and salary prepayments. 725 –
“Advances for payments on our behall 7,120 –
Deferred tax assets (Note 9.b) 99,232 66,145
Debtors for purchase of assets 65,049 155.211
Income tax avallable for offset – 53,787
Amount receivable from afflates 28 –
Notes and crediis recelvable 55519 38,539
Sundry debtors – Brazil and abroad 15,466 49
Total 243,899 319,681

“Advances and salary prepayments. 425 –
“Advances for payments on our behalf 8,174 –
Deferred tax assets (Note 9.b) 99,232 66,150
Dabtors for purchase of assets 65,049 155.211
Income tax avallable for offset – 57,874
Notes and credils recelvable 55519 38,539
Sundry debtors – Brazil and Abroad 41,037 49
Total 270,436 317,823

b) Deferred tax assets

725 ES – ES
7,120 7,159 – 7,159
165,377 87,797 74,738 162,585
221,260 36,845 96.368 189,713
53,737 – 54,043 54,043
28 39 – 39
94,058 119,836 30,647 144,483
15,515 2,997 47 3,044
557,520 248,971 256,343 505,314

PS

425 298 – 298
8,174 7,159 – 7,159
165.382 87,797 74,742 162,539
221,260 36,845 96.368 189,713
57,874 – 58,418 58,418
94,058 119,836 30.647 144,483
41,086 7,826 48 7,874
588,259 253,761 260,723 514,484

At March 31, 2014 and December 31, 2013, the deferred tax assets and deferred tax liabilities related to income tax and social contribution were comprised as follows:

AAA

“Allowance for

loan losses 45,397 27,202
Adjustment of avallble-for-sale securites 5,974 3,585
Adjustment of trading securities. 509 365
Credits written off as a loss 27,018 16,211
Future market – Law 11196 37 22
Provision for tax risks and

ú¡contingent labs 2,926 1,756
Provision for profit sharing 563 387
Provision for lawyers’ fees 1,566 940
Provision for equíty accounting loss abroad 604% 3,626
Provision – FIDC 4,398 2,609
Provision for Resolution 3921 153 2
Provision for devaluation of assets 4,497 2.699
Other provisions 424 2,545
Total 103,369 62,019

72,539 42,602 25561 68,163
9,559 5,077 3,046 8,123
974 1,284 Tn 2,055
43229 25,721 15.433 41,154
so 571 3.426 9,137
4,682 3,161 1,897 5,058
900 2,875 1,725 4,600
2.506 1,599, 959 2,558
2.670 5,539 3,324 8,863
7.087 3,444 2,066 5510
245 – – –
7,196 – – –
6,786 4,574 2744 7,318
165,382 101,587 60,952 162,589

Marko market adjustment of derivative

financial instruments 51,914 31,149
Adjustment o judicial deposit E 208
Income from renegotiaion 1,132 679
Adjustment of account Hedge – Object 7 43
Total (Note 15.b) 53,457 32074

Changes in deferred tax assets and deterred tax liabilities

83,063 45,740 27,444 73,184
542 549 369 1,038
18m 292 175 467
15 – – –
85,531 46,681 28,008 74,689

Opening balance
Amount recorded
Amount reversed
Closing balance

25

162,535 143,052 162,539 143,316
34,978 25.326 34,974 25,981
(62,181) (26.864) (62,131) (26,985)
165,377 141,514 165,382 141,712

FEDERAL PUBLIC SERVICE

BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR)
FINANCIAL INSTITUTION

Brazilian corporate le:
Data Base – 03/31/2014

PIN

102056-7 BANCO PINE S/A.

162.144.175/0001-20

(A free translation of the original in Portuguese)

06.01 – NOTES TO QUARTERLY INFORMATION

Opening balance
Amount recorded
Amount reversed
Closing balance

Projected realization of deferred tax assets and deferred tax li

AAA

11,566
(12)
85,531

A

11,565
(72)
85,530

(16.319)

Upto 1 year
From 110 2 years
From 210 3 years
From Sto 4 years
From 410 $ years
From 5 to 10 years.
Total

(AAA

37212
890
7213

3,187

2,087
3.496

62019

Upto 1 year
From 110 2 years
From 210 3 years
From Sto 4 years
From 410 $ years
From Sto 10 years.
Total

10. INVESTMENTS

a) Investments in associated and subsidiary companies

Pine

Securities.

a

TS
AN

a

Investimentos

TS

3
AS

a
AA

Holding -%
Number of shares held

Captal

Equity

Net income for th quarter
Investment amunt

Equity intho resul ot nvestes
Exchange variaion

100.000

5,000
11.315
7.355
(1,384)
7.357
(1,384)
(807)

A

10.000
10,000

26

9.9998
892.298
19,385
42516
751
42516

751

Energia Eletr.
100.000
1,000,000

9.9998
500,000
500,
2.850
(138)
2.850
(138)

99.998
500,000
500
246

1

246

1

(570)
58,871
(678)
(807)

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR)
FINANCIAL INSTITUTION

Brazilian corporate le:
Data Base – 03/31/2014

PIN

102056-7 BANCO PINE S/A. 162.144.175/0001-20

(A free translation of the original in Portuguese)

06.01 – NOTES TO QUARTERLY INFORMATION

DS

ua

TS
Energia Eletr.

a
a

ua

Planejamento
Holding – % 99.9900
Number of shares held 10,000
Capital 10
Equity 11,407
Nat income for the quarter 7,289
Investment amount 11,407
Equity in the resul of investes 7,289

10.000
10,000
60

50

6

3

0)

99.998
892,298
18,385
38,808
731
38,808
731

“As contractualy providad for on December 26, 2013, ho Pino Comercializadora de Energía reduced ls capital rom R$ 77,400 10 A $ 1,000.

b) Other Investments

99.998
500,000

8.38

8,496
166,866
8,498

At March 31, 2014, the Banco Pine had a value of R$ 88,395 (R$76,509 at December 31, 2013) which corresponds to investments in land for the development of real
estate projects that are registered at IRE VII Desenvolvimento Imobiliário. In the consolidated balance sheet this investment is in the “Other Investments” account.

11. PROPERTY AND EQUIPMENT AND INTANGIBLE ASSETS

a) Property and equipment in use

Acoumulated
EA

Accumulated

Facilities 20
Furniture and equipment in use 10
Communications system 10
Data processing system 20
Security system 10
Alreratt 10
Transport system 20
Total

(10,119)
(ma
(874)
(680)
2
(es)
1)
(14,639)

Acoumulated

19,925

A
Mer
E

(875)
(980)
ea
ea)
(e)
(14901)

Acoumulated

PA

depreciation – %.
Facilities 20
Furniture and equipment in use 10
Communications system 10
Data processing system 20
Security system 10
Alreratt 10
Transport system 20
Total

b) Intangible assets

A
Amortisation – %.
Expense for acquisition and
development of software. 10
Total

pr
(10,103)
(1651)
(647)

(876)

en

(6211)
1663)
(17372)

Accumulated

(8392)
(8332)

Acoumulated

24,984

A

mM
amount

1,255

1,255

A

mM

depreciation
(10.177)
(1,701)
(848)

(er)

2)

(6211)
(663)
(17,592)

Accumulated
O)

(8397)
(6,397)

Pe

25,619

ETA

Expense for acquisition and
development of software. 10

Total

12. DEPOSITS

a) Analysis by maturity:

No stated maturity
Up to 30 days

From 31 to 60 days
From 61 to 90 days
From 91 to 180 days
From 181 to 360 days
More than 360 days.
Total

9,587
9,587

27

(8,159)
(8,159)

E

1,428
1,428

A

10,288
10,288

Amortisation

(8,525)
(8,625)

Demand 3 Interbank e] Time
PTS PET PET pea PE

27,843 – > 27,372

– 550,097 10,305 –

– 338,187 6154 –

– 245,476 23,168 –

– 630,265 37,235 –

– 457,748 789 –

– 1,095,700 545 –

27,843 3317.47 78,196 27,872

549,407

EEN

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR) Brazilian corporate le:
FINANCIAL INSTITUTION. Data Base – 03/31/2014
102056-7 BANCO PINE S/A. 162.144.175/0001-20

PIN

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

EE
A
Demand 3 Interbank a]
deposits. deposits. deposits. pS

No stated maturity –
Up to 30 days – 398,999 10,151 – 390,667 10,151

From 31 to 60 days – 225,900 24,480 – 225,554 24,480
From 61 to 90 days – 236,912 20,722 – 233,690 20,722
From 91 to 180 days – 687,228 3,123 – 560,594 3,124
From 181 to 360 days – 455,409 19,370 – 428,983 15,188
More than 360 days. – 1,143,278 16,093 – 1,094,695 16,058
Total 29,992 3,147,061 93,939 23,260 3,043,223 89,718
b) Analysis by market segment:

Demand 3 Interbank pa] a

deposits PET deposits pa PATA

Manufacturing, commercial and

services 26,502 992,153 – 26,502 992,154 –
Related companies. añ 40,498 1,996 – – –
Individuals 870 18,793 – 870 18,793 –
Financial institutions and

investment funds – 2,266,026 76200 – 2.266.026 76,200
Total 27,843 3,317,471 78,196 27,872 3,276,973 76,200

Ea

Demand 3 Interbank a] Time
PA deposits deposit PA deposits

Manufacturing, commercial and

services 22,924 897,503 – 22524 589,291 –
Related companies 7 95,566 4201 – – –
individuals 396 50,966 – 306 53,366 –
Financial institutions and
investment funds – 2,100,626 89718 – 2,100,526 8978
Total 23,832 3,147,061 20,939 23,260 3,043,223 89,718
13. FUNDS OBTAINED IN THE OPEN MARKET
TT
ERE 1231/2013
Own portfolio
National Treasury Bis (LTN) 40,000 201.418
Foderal Treasury Notes (NTN) 202,242 156,794
Debentures. 129,898 175263
Other securities abroad 6986 14,109
Subtotal 379,066 547,579
“Third-party portfolio
Federal Treasury Notes (NTN) 110,322 –
Subtotal 110322 –
Funds obtained in the open market 489,388 547,579
Consolidated
ERE 1231/2013
Own portfolio
National Treasury Bis (LTN) 40,000 201.418
Foderal Treasury Notes (NTN) 91,920 118007
Other securities abroad 6986 14,109
Subtotal 198,906 309,529
“Third-party portfolio
Debentures. 129,898 175263
Federal Treasury Notes (NTN) 110,322 –
Subtotal 240,160 175263
Funds obtained in the open market 379,066 508,792

14. INTERBANK ACCOUNTS – LOCAL CORRESPONDENTS
These comprise amounts received in advance related to instaliments 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$ 254 at March 31, 2014 (December 31, 2013 – R$ 25 in
the Individual and Consolidatea).

15. OTHER LIABILITIES

a) Collection and payment of taxes and similan

At March 31, 2014, this balance consists of the tax on financial transactions (IOF) payable in the amount of R$ 3,193 (December 31, 2013 – R$ 1,663).

28

FEDERAL PUBLIC SERVICE

BRAZILIAN SECURITIES COMMISSION (CVM) PIN

Quarterly Information (TR) Brazilian corporate legi
FINANCIAL INSTITUTION Data Base – 03/31/2014
102056-7 BANCO PINE S/A 62.144.175/0001-20

(A free translation of the original in Portuguese)

06.01 – NOTES TO QUARTERLY INFORMATION
b) Tax and social security contributions

E

Taxes and contributions on

third-party services 123 – 123 199 – 199
Taxes and contributions on salaries 2273 – 2273 2359 – 2369
Taxes and contributions on income – – – 69 – 692
Servico tax (1SS) 402 – 402 480 – 480
Withhoking income tax (IRF) 1451 – 1451 1.469 – 1,469
Social Integration Program (PIS) and Social Contribution on Revenues (COFINS) payable 409 – 409 461 – 481
Provisio or defered income tax (IA) and social contribution (OS) (Note 08) 44,708 40,825 85581 44,706 40,825 85.531
Provision for taxrisks (Note 16. “e” and “d”) – 719 m9 – 727 727
Total 49,404 41,544 90,948 50,486 41,552 92,088

EJE

LJ

Taxes and contributions on

hire: party services. 156 – 156 177 – 177
Taxes and contributions on salaries 3293 – 3,233 3,356 – 3,356
Taxes and contributions on income – – – 4,350 – 4,350
Service tax (ISS) 593 – 533 659 – 659
Withholding income tax (RAF) 3809 – 3.839 3,848 – 3548
Social Integration Program (PIS) and Social Contribution on Revenues (COFINS) payable 446 – 446 556 – 556
Provisin for deferred income tax (IR) and social contribution (CS) (Note 09) 12,161 62,528 74,689 12,161 62528 74,689
Provision for tax risks (Note 16. “c* and “d”) – 716 716 – 723 723
Total 20,368 63,244 83,612 25,107 63,251 88,358
c) Sundry

Provision for personnel expenses. 10512 – 10512 11452 – 11,452
Cashiers checks 6,985 – 6,985 6,985 – 6,985
Allowance for contingent

lablities- civil (Note 16.0) – 8,852 8852 – 8.852 8,852
Allowance for contingent

lablitos – labor (Note 16.0) – 2,193 2,133 – 2,133 2,133
Other administrative expenses 6,945 6266 18,211 7,387 6.266 19,658
Liablíies for sale and transter o financial assets 380,923 7,188 388,111 – – –
Sundry debtors – Brazil and abroad 1,352 – 1,352 20,720 – 20,720
Other provision – 1,150 1,150 – 1.150, 1,150
Total 406,717 25,589 432,306 46,544 18,401 64,945

Provision for personnel expenses. 18,809 – 18,808 19,068 – 19,068
Cashiers checks 610 – 6310 610 – 610
Allowance for contingent

lablities- civil (Note 16.0) – 9,997 9,997 – 9.997 9,997
Allowance for contingent

lablities – labor (Note 16.0) – 1,925 1,925 – 1.925 1,925
Other administrative expenses 2,291 6,394 8,625 3,254 6.394 9,648
Liablíies for sale and transter o financial assets 317,328 860,538 377.866 – – –
Sundry debtors – Brazil and abroad 680 745 1,425 1,863 745 2,608
Total 345,958 79,599 425,557. 31,095 19,061 50,156

16. CONTINGENT ASSETS AND LIABILITIES AND LEGAL OBLIGATIONS – TAX AND SOCIAL SECURITY CONTRIBUTIONS
a) Adherence to the program for installment payment and discharging of tax debts (REFIS/Tax Amnesty – Law 12.865/2013)

On December 31, 2013, considering the terms and benefits offered by the tax amnesty program enacted by the Brazilian government, through Law 12865/13, the
Institution’s management reassessed, together with its legal counsel, the convenience of participating in this program. As a result, management decided to withdraw
from specific proceedings and to settle immediately the related contingent amounts.

The proceedings totaled R$ 357 at the Individual and R$ 948 on a Consolidated basis, generating a positive impact on the gross amount of R$ 213 at the Individual,
and a negative impact at the Consolidated of R$ 140, positive impact R$ 64 net of tax at the Individual and a negative impact R$ 279 net of tax at the Consolidated,
respectively, and are mainly represented by PIS process (base year 1996) in Banco Pine, fully provisioned. This process was paid in full with judicial deposit in the
amount of R$ 173 and for processes PIS (based year 2007) in the amount of R$ 10, IRPJ year of 1996 amounting to R$10 and CSLL years 1997/98 amounting to R$
5571. In Pine Investimentos DTVM, had not accrued amounts. These proceedings were partially paid with judicial deposit in the amount of R$ 138.

b) Contingent assets

There were no contingent assets at March 31, 20134 and December 31, 2013.

29

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (ITR) Brazilian corporate legi
FINANCIAL INSTITUTION. Data Base – 03/31/2014
102056-7 BANCO PINE S/A. 162.144.175/0001-20

PIN

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION
c) 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: The Institution and Pine Investimentos sought an injunction designed to render ineffective the wording of Article 3, paragraph 1, of Law 9718/1998, which changed
the calculation base of PIS and COFINS so that all corporate revenues are liable to these contributions. 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 these contributions. The injunction filed by Banco
Pine received a partially favorable judgment and the appeal lodged by the Federal Government was dismissed. The admissibility of the Special and Extraordinary
Appeals filed by the Federal Government was denied and the judgment was made final and unappealable on September 17, 2013.

Supported by the opinion of its legal advisors and the patrons of the cause, according to whom the issue lies pacified with the Federal Supreme Court (STF) and no
longer any potential appeal to be filed by the National Treasury, the Banco Pine made a reversal of the related allowance for contingencies relating to the period from
May 2005 through October 2011, considering it no longer represents a legal obligation and it is no longer proboble of loss, which represented the recognition net
revenue totaling R$ 35,163 at the individual entity level and R$ 35,764 at the Consolidated level, for 2013 , which was recorded in the “Other operating income” and the
“tax expenditure” accounts.

In this respect, the Banco Pine will file a request for proof of claim at the Brazilian Federal Revenue authority (RFB), regarding the contributions to PIS which were
overpaid during the period from May 1999 to April 2005, in the historical amount of R$3,522 in the Institution and R$ 3,566 on a Consolidated basis, which adjusted for
inflation, based on the variation in the SELIC rate up to March 31, 2014, totaled R$ 8,427 in the Institution and R$ 8,533 on a Consolidated basis. Based on the final
and unappealable judgment and the administrative procedure filed at RFB, a corresponding tax credit was recognized in “Other receivables – Tax recoverable”, as a

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 basis 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.

Supported by the opinion of its legal advisors and the patrons of the cause, according to whom the issue lies pacified with the STF and no longer any potential appeal
to be filed by the National Treasury, the Banco Pine made a reversal of the related allowance for contingencies relating to the period from May 2005 through October
2011, considering it no longer represents a legal obligation and it is no longer proboble of loss, which represented the recognition net revenue totaling R$ 150,510 at
the individual entity level and R$ 151, 357 at the Consolidated level, for 2011 , which was recorded in the “Other operating income” and the “tax expenditure” accounts.

In this respect, the Banco Pine will file a request for proof of claim at the RFB, regarding the contributions to COFINS which were overpaid 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, 2014, totaled R$ 38,148 (R$ 37,744 at December 31, 2013) in the Institution and R$ 38,596 (R $ 38,188 at December 31, 2013) on a Consolidated
basis. Based on the final and unappealable judgment and the administrative procedure filed at RFB, a corresponding tax credit was recognized in “Other receivables –
Tax recoverable”, as a counter entry to the “Other operating income” account.

The of the legal obligations and respective judicial its are pl as follows:
A
EAS Judicial deposits eS Judicial deposits
ERE
Social integration program (PIS) . – . – – 33,788 33,218
Social contribution on revenues(COFINS) . – . – – 172,603 169,862
Total . – 205,208 201,915 – – 206,389 203,080

d) Contingencies classified as probable are regularly provided for the year ended March 31, 2014 and December 31, 2013 are comprised as follows:

Individual

EA Judicial deposits e Judicial deposits

Tax contingencies

Labor contingencies 2193 1,825 575
Civ contingencies 8852 9397 2085
Total 11,704 12,638 4729
e) Activity in liability provisions

Opening balance 1,925 9,997 12,538 42,056 4,665 18,298 65,019
Amount recorded (reversed) – 164 (1319) (1,155) (43,005) (2989) (9.059) 155.003)
Agjustments 3 4 174 221 1,665 199 758 2,622
Closing balance no 2,133 8,852 11,704 716 1,925 9,997 12,638

ERE

Opening balance 1,925 9,997 12,645 42.591 4,665 18,298 65,554
Amount recorded (reversed) – 164 (1319) (1,155) (43,557) (2999) (9.058) 155,565)
Agjustments 4 4 174 222 1,689 199 758 2,646
Closing balance 727 2,133 8,852 1712 723 1,925 9,997 12,645

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

Labor: At March 31, 2014, and December 31, 2013, the Institution had no labor claims classified as possible losses.
Civil: At March 31, 2014, and December 31, 2013, the Institution had no civil claims classified as possible losses.

17. BORROWINGS AND ONLENDINGS

Up to GRS LEE From Sto a
ES AS Ta BEA ES

Local onlendings – official institutions z . x
Foreign onlending transactions. 1,491 1,438 92946 135,744 33.936 265,556

Foreign borrowing transactions 372,209 645,186 226,300 – 67.890 1,911,585
Total 505,677 981,901 774,944, 256,202 232,444 2,751,168

30

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR) Brazilian corporate le:
FINANCIAL INSTITUTION. Data Base – 03/31/2014
102056-7 BANCO PINE S/A. 162.144.175/0001-20

PIN

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

a DS ES O From 5to
3 months EAN ES TS 16 years

Local borrowings – other instituons ‘ – – 2721a 124,338 – 451,552

Local onlendings – oficial nsttuions 191,977 395,277 455,698 120,458 190618 1,174,028

Foreign onlending transactions 1401 1,438 92.946 135,744 33.936 265,555

Forcign borrowing transactlons 372,208 645,186, 226.300 – 67,890 1.811,585

Total 505,677 961,901 802,158 680,540 232.444 3,202,720

xa GRS From Sto a
ES AT EA 15 years

Local onlendings – official institutions 61,788 279,262 571,229 112,536 116,293 1,141,108

Foreign onlending transactions. 10 2,855 2.895 – – 5,700

Foreign borrowing transactions. 425,391 620,996 234,260 – 70278 1,350,265

Total 487,129 902,513 808,324 112,536 186,571 2,497,073

3 DEN
ES Eo

Local borrowings – alher institutions * – – 73087 13778 7 uy

Local onlendings – official institutions 61,788 279,262 571,229 112,536 116.293 1,141,108

Foreign onlending transactions. 10 2,855 2.895 – – 5,700

Foreign borrowing transactions. 425,391 620,996 234,260 – 70278 1,350,265

Total 487,129 902,513 851,411 526,312 186,571 2,953,936

TIN On March, 2074, AS 151.582 (AS 458.863 on Decambor 9T, 2078) feters to tho amount ol sharas ol FIDO in ho amount ol A$ 27,214 (AS 43,087 on December 31, 2013) and also o tho valo ol senior shares ol FIDO Agro in ho
amount of A$424,338 (R$ 413,776 on December 31 2013)

18. FUNDS FROM ACCEPTANCE AND ISSUANCE OF SECURITIES

a) Funds from exchange acceptances

Upto From8to LEE From Sto LS
ES E O EA ES

Real estate letters of credit (LCI) 55317 189,607 22277 423 – 267,624

Agribusiness letters of credit (LCA) 129,998 274,271 54,935 454 – 453,658

Financial bil (LF) 371,747 243,880 137,560 22,164 312 778,968

Total 551,062 707,758 214,772 29,041 3,612 1,500,245

17 EN ES a AS
ETS O a O a

Lotras de crédito imobilário 55,317 189,607 22,277 423 – 267,624

Lotras de crédito do agronegócio 121,022 274,271 54,935 454 – 450,682

Latras financeras 371,747 243,880 137,560 22,164 312 778,968

Total 548,086 707,758 214,772 29,041 3512 1,497,269

Upto E a
ES 12 months EA

Real estate letters of credit (LCI) 98,187 172,150 9,969 210 – 280,696

Agribusiness letters of credit (LCA) 323,628 86,643 27912 161 – 438,342

Financial bil (LF) – 599,968 115,835 19,678 3.486 738,367

Total 421,798 858,161 153,716 20,249 3,486 1,457,405

b) Securities issued abroad

These are funds obtained through the global fixed-rate note program which, at March 31, 2014, amount to R$ 259,866 (December 31, 2013 – R$ 277,097), maturing up
to 2023 and interest of up to 8.75% per annum plus LIBOR and exchange variation, and working capital in the amount of R$ 3,110 (December 31, 2013 – R$ 3,197)
maturing up to 2014.

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

eS Interest 0
TS Uco ES maturity 3/81/2014
4.091 US$ 4,20% aa + Libor Jun/2014 3,110 3,197
8,000 US$ 3,00% aa + Libor Nov/2014 9131 9.392
1,044 US$ 87%aa+ Libor Jan/2017 2411 2.551
39,338 US$ S0%aa+ Libor Jan/2014 – 7,139
25,000 US$ 1,85%aa+ Libor abr/2022 57,831 106,021
20,000 US$ 4,20%aa+ Libor dez/2023 46.122 –
73,000 CLP 60% aa+ Var UF Dez/2017 144.371 151,994
Total 262,976 280,294
() Current (24,161) (21,059)
Total long-term liabilities. 200,815 259,235

31

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR) Brazilian corporate legi
FINANCIAL INSTITUTION Data Base – 03/31/2014
102056-7 BANCO PINE S/A 62.144.175/0001-20

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

The Banco Pine has lines with certain multilateral public agencies (IFC – International Finance Corporation and IDB – Inter-American Development Bank) which
guarantee the Institution’s loans in the amount of US$130,000 (R$ 294,190 based on the US dollar ptax rate at March 31, 2014). At March 31, 2014, Banco Pine was
using the amount of US$ 104,740 (R$ 237,028 based on the US dollar exchange rate at March 31, 2014). On October 15, 2013 was settled operation with the FMO-
Nederlandse Maatschappij Voor Financierings Ontwi-The Hague.

19. SUBORDINATED DEBT

AA
12/31/2013

“Fixed Rate Notes 1/6/2017 USST25.000 875% aa 306,900

Financial Bis (LF) 12/6/2021 RS45.152 141,451 do CD! s03m

Total 360,21

20. EQUITY

a) Capital

Pursuant to the by-laws, subscribed and paid-up capital totals R$ 1,112,259 and comprises 121,172,024 (December 31, 2013 – 123,612,756) registered shares, of
which 65,178,483 (December 31, 2013 – 65,178,483) are common shares and 55,993,541 (December 31, 2012 – 58,434,273) are preferred shares with no par value.
The Banco Pine is authorized to increase its capital, without the necessity of any amendment to the by-laws, 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 October 15, 2013 and ratified by the Central Bank (BC) on December 23, 2013, capital was increased
from R$ 967,259 to R$ 1,112,259, through the incorporation of part of the balance of the legal reserve in the amount of R $ 17,429, and part of the balance of the
statutory reserves in the amount of R$ 125,571 amounting to R$ 145,000, through the issuance of 12,770,443 new nominative shares, of which 6,733,594 common
shares and 6,036,849 preferred, passing total number from 110,842,313 to 123,612,756 nominative shares, being 65,178,483 common and 58,434,273 preferred
shares.

As approved at the Board of Directors held on February 4, 2013 and ratified by the Central Bank (BC) on April 19, 2013, capital was increased by R$ 31,576 through
the issuance of 2,211,213 new shares, with 1,887,605 to Societe de Promotion et de Participation Pour La Cooperation Economique SA – PROPARCO
(“PROPARCO”) and 323,608 other shareholders, preferred shares, and the capital stock of R$ 935,683 to R$ 967,259, divided into 110,842,313 nominative shares,
with 58,444,889 common shares and 52,397,424 preferred shares, without par value.

b) Capital reserve

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

c) Revenue reserve

The Banco Pine’s “revenue reserve” account is comprised of legal and statutory reserves. The amount of the “revenue reserves” may not exceed the Banco Pine’s
capital, and any excess must be capitalized or distributed as dividends. The Banco Pine has no account named “other revenue reserves”.

Legal reserve – Pursuant to Law 11638/07 and the by-laws, the Institution must appropriate 5% of ts net income for each year to the legal reserve. The legal reserve
shall not exceed 20% of the Institution’s paid-up capital. However, the Institution may choose not to appropriate a portion of ts 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 by-laws may constitute other reserves, since that determines its purpose, the percentage of net income to be
allocated to these reserves and the maximum amount to be maintained in each statutory reserve. 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$33,516, after the appropriation of
5% to the legal reserve of R$ 8,080, the deduction of the payment of interest on own capital of R$ 62,270 and dividends in the amount of R$57,730, to maintain the
Institution’s operating margin compatible with its asset transactions.

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, interest on own capital was acerued and declared, calculated based on the variation in the long-term interest rate
(TULP)
for the period. This interest on own capital decreased the expense for income tax and social contribution for period ended March 31, 2014 by R$ 6,612 (March 31, 2013

We present below the dividends and interest on own capital related to income for period ended March 31,2014:

A O
LN O (gross) (gros) (Net of1R) Total amount (net)
Interest on own capital A/2O1A A MAIZO1a 0.1368 16,530 01161 14.051

Dividends a//2Ota 4/9/2014, 0.0287 3,470 –

Dividends and interest on own capital for the 4th quarter of 2013 were paid considering an amount of 110 842 313 shares. These payments relating to the capital
increase approved by the Central Bank on December 23, 2013 and referred to in note 20 a. occurred on January 7, 2014.

In accordance with Letter Circular 3516/11, the proposed additional dividend in excess of the minimum dividend, in the amount of R$ 11,686 (December 31, 2013 –
RS21,177) is classified in a specific equity account.

We present below the reconciliation of dividends and interest on own capital for period ended March 31, 2014 and December 31, 2013:

12014 Ea
Natincome. 35,007 161,596
Legal reserve (1,750) (8,080)
Calculation base 33,257 159,516
Interest on own capital 16,530 62270
Withholding tax – IRRF (15%) (2.480) (9341)
Prepaid dividends 3,470 57,730
Amount proposed 1752 110,660
2% of calculation base 52.68% 72.08%

32

FEDERAL PUBLIC SERVICE

BRAZILIAN SECURITIES COMMISSION (CVM) PIN

Quarterly Information (TR) Brazilian corporate legi
FINANCIAL INSTITUTION Data Base – 03/31/2014
102056-7 BANCO PINE S/A 62.144.175/0001-20

(A free translation of the original in Portuguese)

06.01 – NOTES TO QUARTERLY INFORMATION

e) Treasury shares

At the Board of Directors’ Meeting held on March 27, 2014, the cancelation of 2,440,732 preferred shares held in treasury was approved, without a capital reduction,
thus reducing the goodwill reserves in the subscription of shares and statutory reserve. These shares were acquired through the share buyback program approved by
the Board of Directors, in accordance with CVM Instruction No. 10 at 02.14.1980, as amended by CVM Instruction No. 268, at 11.13.1997 and 390 at 07.08.2003

At the Board of Directors’ Meeting held on March 27, 2014, the authorization to acquire up to 852,883 of the Banco Pine’s own preferred shares was approved, to be
held in treasury and subsequently disposed of, as well as payment of variable remuneration for statutory directors of the Banco Pine pursuant to Resolution No.
3.921/10, without a capital reduction. There have already been 124,256 shares repurchased under this plan, in the amount of R$ 1,053 at an average cost of R$ 8.43.
This authorization will be valid until September 27, 2014.

On March 31, 2014 the Banco Pine had 124,256 held in treasury (1,918,045 at December 31, 2013) preferred shares issued by the Banco Pinet in the amount of R$
1,053 (R$ 22,083 at December 31, 2013). The market value of these shares was R$ 1,079 (R$ 20,197 at December 31, 2013).

1) Carrying value adjustments

Individual e Consolidated
E

Available-for-sale financial assets (23,898)

Marketable securites (23,898)

Cash flow hedges (624) –
Hedgo’s Object 288 –
Hedgo instrument (612) –
Other (10,855) (7.688)
Income tax 14,066 11251
Total (21,011) (16,765)

21. STATEMENT OF OPERATIONS

a) Loan oper:

A

EJE

“Advance to depositors 21 89 2 E
Income from loans. 120,905 66.488 123,786 70,916
Income from discounted bil 128 974 128 974
Income from financing 45,204 – 44,015 –
Income from financing – foreign currency – 36.086 – 35,973
Income from credit assignments – 2,569 – 2,569
Total 166,256 106,206 167,948 110,521

b) Results of securities transactions

A
ES ERE ESOO

Income from (expense fr) transactios wth fxecincome securtias (FIDC) 17651 + – –

Income from transactins with fvdincome securiies 103,008 91.508 109,786 99.08

Expense for transactons with fiecuincome securies (9171) (65,136) (19.070) (65,138)

Expense for transactons wi vaiable-income securtes – (091) – (091)

Total 101,518 50454 20716 57,760

c) Funds obtained in the market

A
ES ESPIAS
Expenses from interbank deposits 2,583 1389 2473 1,744
Expenses from time deposits 91,190, 87,004 89,074 64,432
Expenses from purchase and sale commitments 9,408 23,327 10,475 24,917
Expense from (income ram) securitas issued abroad (9233) 6.052 (928) 6,052
Expenses from contribution to credit guarantes fund! 3,968 4,188 3,968 4,188
Expenses from agribusiness letters of credt 9,908 5,058 9,906 5,058
Expenses from financial bis 22,506 12.465 22,506 12,465
Expenses from real estate letters of credit 6,532 172 6,532 172
Total 136,840 120,155 135,702 119,028

d) Borrowings and onlendings

TA
ES
Expenses from onlendings (BNDES) 10,904 8,383 5,008 2087
Expenses from foreign onlendings – Resolution 3844 123 78 123 78
Expenses from payables to foreign bankers. 6,868 301 12,766 301
Expenses from local loans – FIDC – – 15,533 2,292
Expenses from fromeign borrowings. 368 522 368 522
Total 18,263 9.884 33,796 12,116

e) Income from services rendered

Credit facility tee. 5,983 6,559 5,983 5.559
Commission of guarantees 10,099 8,005 10,099 8,005
Commission of intermediary services 2,930 3,394 4,161 14,778
Other 7 8 38 102
Total 19,019 17,966 20,281 29,439

33

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)
Quarterly Information (TR)

FINANCIAL INSTITUTION. Data Base – 03/31/2014

102056-7 BANCO PINE S/A. 162.144.175/0001-20

(A free translation of the original in Portuguese)

06.01 – NOTES TO QUARTERLY INFORMATION

1) Personnel expenses

ES
Salarles 12137
Benefits 2.116
Social charges 5,006
Directors” fees 327
Training 35
Interns. 88
Total 21,706

21,514

ES
15,503
2,297
5.161
328

100
23,972

ES
Water, electricity and gas 116
Rents 2,204
Leased assets 250
Communications. ES
Charitable contributions 1
Maintenance and repair of assets 445
Materials 28
Data processing 2,398
Promotions and public relations 148
Publciy and advertising 396
Publications 481
Insurance 38
Financial system services 4,435
Third-party services. 689
Surveillance and security services 1,262
Specialized technical services 5.019
Transportation 405
Travel 396
Other administrative expenses 4,172
Amortization and depreciation 1,306
Total 25,088

h) Tax expenses

SS1IZO1S
140
2,101
242

18

a
2.304

ar
446

3,807

959
1.198,
2824

367

3,798
1,525
23,250

ESO

ES
122
2.432
250

878

446

2.458
148
396
532

4,749
941
1,262
5312
409

4,234

1,355
26,434

31/2014

216

ES
Service tax (ISS) 1,551
Social contribution on revenues(COFINS) 807
Social integration program (PIS) 191
Other ES
Total 2,854

i) Other operating income

929
743

180
2.444

1617
902
148
387

3,054

Recovery of charges and expenses 564
Indexation 152
Adjustment of judicial deposits 3,456
Reversal of provision for labor risks. –
Reversal of provision for tax risks –
Reversal of provision for civil processes 1,340
Reversal of provision for FIDC –
Other operating income en
Reversal of provision for derivative 1,330
Total 7,453

“7 Goncoming the values ol the gan due o PIS / COFINS detalle in Noto 16.0)

]) Other operating expenses

1.539

1,830
7,458

Labor and civil proceedings 409
Indexation expense 308

Charges on loans assigned –
Expenses for assignment ‘% –
Interest on cun portfolio 16,590

Other operating expenses 1,502
Total 18,749

k) Non-operating income (expense)

16,530
1,981
19,326

288

est

5,15
14,977
2,730
24,341

At March 31, 2014, the amount of R$ 6,836 in the Individual and in the Consolidated (March 31, 2013 – R$ 2,292 in the Individual and in the Consolidated) corresponds

mainly to the sale of assets received as payment in kind for the settlement of loan operations.

34

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR) Brazilian corporate legí
FINANCIAL INSTITUTION Data Base – 03/31/2014
102056-7 BANCO PINE S/A 62.144.175/0001-20

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

22. INCOME TAX AND SOCIAL CONTRIBUTION

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

Individual CT

ESA EJE ESO za

Income before income tax (IRPJ) and social contribution (CSLL)

and less profit sharing 46,291 62,390 47,196 54,538
Interest on own capital (16,590) (14.977) (16,530) (14,977)
Income before taxes on income 29,701 47,353 30,666 49,561
Current rate 40% 40% 40% 40%
Expected expense for IRP and CSLL, based on current tax rate (11,880) (18,941) (12,266) (19,824)
Positive equity income (090) 2.868 –
Recoltas de juros indenizatórios 2,285 – 2,285 –
Recipes of the termination interest – – 172
Other adjustments (699) (702) (2.380) ss

Income Tax and Social Contribution (11,224) (16,775) (12,189) (18,983)

23. RELATED-PARTY TRANSACTIONS

a) Management compensation
In 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: () alignment of the Institution’s executive compensation practices with its risk management policy; (i) 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: (ii) creation of
an instrument designed to attract and retain talent for the Institution’s key positions; and (iv) adaptation of the compensation policy to meet the requirements of

The compensation defined in the Plan takes the follawing into consideration: (¡) the Institution’s current and potential risks; (i) the Institutior’s overall result, in
particular, recurring realized income (net book income for the period adjusted based on unrealized results and excluding the effects of controllable non-recurring
events); (li) 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 profit share payment and filed at the Institution’s head office; (vii) the
performance of the business unit; and (vii) the relation between the Directors” individual performance, the business unit performance and the Institutior’s overall

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 profit share payment.

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

c) the amount corresponding to the remaining 40% of variable compensation 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 as does the Director’s level of

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: (i) a significant decrease in realized recurring income:(i) 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 Banco Pine’s Compensation Committee, which was constituted 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; (i)
monitoring the implementation and operation of the Institutio’s management compensation policy; (ii) reviewing annually the Institution’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 Institution’s 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 Institution’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 CMN Resolution 3921/10.

In the period ended March 31, 2014, variable remuneration was determined in the amount of R$12,960, (At March 31, 2013 – R$6,545), and the expense was
determined in the amount of R$ 3,283 (At March 31, 2013 – R$ 2,320) in accordance with the criteria defined in the new plan.

Individual e Consolidat

: of the Board of Directors and Executive Board 3812013
Fixed compensation. 2,173
Variable compensation. 19,116
Short-term benefits 98
Total 16,273

Short-term benefits paid to director 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 ¡s terminated

either voluntarily or due to the non-fulfillment of his/her obligations. If the employment agreement is terminated by the Banco Pine, the officer may receive
indemnification. During the period ended March 31, 2014, there was no compensation in (March 31, 2013 – R$329) was paid to officers who left the Institution.

35

FEDERAL PUBLIC SERVICE

BRAZILIAN SECURITIES COMMISSION (CVM) PIN

Quarterly Information (TR) Brazilian corporate legi
FINANCIAL INSTITUTION Data Base – 03/31/2014
102056-7 BANCO PINE S/A 62.144.175/0001-20

(A free translation of the original in Portuguese)

06.01 – NOTES TO QUARTERLY INFORMATION
b) Related parties

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

Marketable securities (626,615) 4,867 643
Pine Crédito Privado – FIDO (6,303) 44,867 64
FIP Rio Corporate (108,985) – –
Pine Crédito Privado – FIDC Agro (509,327) – –
Demand deposits 496 112 – –
Pine Investimentos 266 so – –
Pine Comercializadora de Energía Elética 7 4 – –
Pine Corretora 2 5 – –
Pine Assessoria 15 5 – –
Pine Assessoria em Comercilizagáo de Energia 3 10 – –
Pine Planejamento Ltda 181 9 – –
IRE Vil Desenvolvimento Imobiiário Ltda 2 – – –
Directors and immediate family” 20 29 – –
Interbank deposits 1,996 5,403 (69) (198)
Pine Investimentos 1,896 5.403 (89) (149)
Time deposits 56,877 173,951 (1,855) (6513)
Pine Investimentos 34,823 28,426 (847) (464)
Pine Comercializadora de Energia Elética 736 81,171 (78) (113)
Pine Corretora 236 224 (6 “
Pine Assessoria 2,484 35,499 (786) (601)
Pine Planejamento Ltda 2,086 13,355 (698) 160)
Pine Assessoria em Comercializagáo de Energia 33 40 0 –
IRE Vil Desenvolvimento Imobiiário Ltda 2,976 – – –
Directors and immediate family” 19,403 15,236 161 e.)
Open market funding 240,160 – 1,087 –
Pine Investimentos 129,838 – 1,369 –

Pine Crédito Privado – FIDC Agro 110,822 – (622) –
IRE VIl Desenvolvimento Imobilário S/A. –
“These amounis are no! consoldated,

c) Capital ownership

The following table presents the direct investment in common and preferred shares, at March 31, 2014 and December 31, 2013, of stockholders with more than five
percent of total shares and of members of the Board of Directors and Executive Board.

EE
“Common Common Preferred Preferred Total
ES shares(%) E shares (%) shares(%)
Individuals 65,178,483 100.00 17,210,589 29.45 82.389.072 855.55
Board of Directors – – 3,736,574 639 3,796,574 3.02
Executive Officers – – 3,186,610 546 3,186,610 258
Total 65,178,483 100.00 24,139,773 41.30 89,812,256 7225

ERA

“Common Common Preferred a
shares shares(%) E shares (%) shares(%)
Tndwduas 58,444,889 100.00 15.410.863 2941 73,855,752 86.63
Board of Directors – – 3,243,868 619 3,243,868 298
Executive Officers – – 3,103,532 592 3,103,532 280
Total 58,444,889 100.00 21,758,263 41.52 80,203,152 7236

Sureties and guarantess
Credit assignment with coobligation .
Lotter of credit 14,137
Total 2,919,466

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 is the sole responsibility of the Institution as sponsor.

At March 31, 2014 the total of this contribution was R$ 98 (R$ 95 for the year ended March 31,2013).
26. PROFIT SHARING PROGRAM

Banco Pine has a profit sharing program 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 share” account”.

36

FEDERAL PUBLIC SERVICE

BRAZILIAN SECURITIES COMMISSION (CVM) PINE
Quarterly Information (TR) Brazilian corporate legislation

FINANCIAL INSTITUTION Data Base – 03/31/2014

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

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

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 risk
Operational risk

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.

+ Review 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 reviews 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.

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.

ty 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),

“his 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 PEL 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 Institutior’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 variation in the corresponding variable.

37

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR) Brazilian corporate le
FINANCIAL INSTITUTION Data Base – 03/31/2014

102056-7 BANCO PINE S/A. 162.144.175/0001-20

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION

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-awis 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 Institutior’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, thatis, 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 sensitivity analysis for all transaction involving financial instruments, which expose the Institution to risks
arising from exchange and interest rate fluctuations or any other types of exposure at December 31, 2013:

Sensitivity analysis

Scenarios
TO

Fixed interast rato (PRE) Fixed interest rat variations 1,349 (87,020) (74.089)
General Market Price index (IGPM) IGPM coupon variaions 50 (108) el
Price index 1PGA) IPCA coupon variations (m8) (0.398) (18,796)
Long-term interest rate (TILP) TULP variations (2568) 18,408 36:15

US dolar coupon rato Exchange coupon variation (25,276) (9.208) (6:417)
Other currency coupon rates Exchange coupon variation e (42 (8s)
Offshore rates (LIBOR + other Offshore) Variation in Ofishore rates E] 3680 4818

Currencies Change in exchange variation 140 (1.526) (8.059)
Total (uncorrelated sum)” (61,779) (05143) (150,286)
Total (correlated sum)” (25.400) (29.012) (60,969)

“unconaated sum: Sum ol1he resuls obtaned ía the worst stress scenarios foreach risk factor
Corelated sum: The worst result l the sum l he sress test scenarios lalo ho risk actors considering the coreaton between them.

Scenario comprising the variation in market factors between March 31, 2014 and April 09, 2014 (variation in the fixed rate from 11,88% in a 1-year curve and from

Scenario |- Probable 12,69% to 12,43% in a 4-year curve, variation in the US dollar from 2.2630 to 2.2111 and in the exchange coupon fram 1.05% to 1.83% in a1 year curve).

Scenario comprsing a 25% shock to the market interest rate curve amounts (disclosed by BMAF), and to the closing prices (US dollar and equity). as in the follow
canario 1 – Possible 0 prising ( by BMEF), 19 prices equity) ing

example:
Market rate Now market rate

Curve (1 year) Shock (year)

Fxedinterastralo (PRE] TEE 27 TZ

General Market Price index (IGPM) 547% 25% 5.84%

Price index 1PGA) 4.75% 25% 594%

Long-term interast rate (TILP) 538% 25% 7.48%

US dolar coupon rate 1.05% 25% 1.31%

Other currency coupon rate 1.20% 25% 1.50%

LIBOR – USD 056% 25% 0.70%

LIBOR – Other Currencies 028% 25% 0.35%

Currencies 22680 25% 2.8288

Scenario comprising a 50% shock to the market interest rate curve values (disclosed by BMAF), and in the closing prices (US dollar and equity), as in the follow
Scenario 1 -emote 0 -omprising ( by BMEF), y prices (| equity) ing

example:
Market rate Now market rate
Curve (1 year) Shock (1 yean)
Fixed interestrate [PRE] 11387 50% TIP
General Market Price index (IGPM) 547% 50% 821%
Price index (IPCA) 4.75% 50% 748%
Long-term interest rate (TILP) 5.38% 50% 897%
US dollar coupon rate 1.05% 50% 1.57%
Other currency coupon rate 1.20% 50% 1.80%
LIBOR – USD 0.56% 50% 0.84%
LIBOR – Other Currencies 028% 50% 0.42%
Currencies 22680 50% 3.3945

“For Scenaños land IM, the result of ihe high or low stress scenario vas considered to obtain The mos! significant portfolo losses,

38

FEDERAL PUBLIC SERVICE
BRAZILIAN SECURITIES COMMISSION (CVM)

Quarterly Information (TR) Brazilian corporate legislation
FINANCIAL INSTITUTION Data Base – 03/31/2014
102056-7 BANCO PINE S/A 62.144.175/0001-20

(A free translation of the original in Portuguese)
06.01 – NOTES TO QUARTERLY INFORMATION
e) Capital management

Capital management is an important process used by the Institution to optimize the use of capital and to achieve its strategic objectives. The ongoing enhancement of
credit, market, liquidity and operational risk management and control is essential to providing stability in financial results and to improving capital allocation.

In accordance with BACEN Resolution 3988/11, capital management is defined as an ongoing process for:
+ 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 Institutior’s strategic objectives

Capital policies and strategies are based on a fonward-looking approach, anticipating the need for capital as a result of possible changes in market conditions and are
reviewed periodically by the Executive Board and Board of Directors, to ensure that they are compatible with the Institutior’s strategic planning.

Financial institutions are required to permanently maintain their Required Regulatory Capital (PRE) compatible with the risks of their activities. Compliance with the
regulatory capital limits is strictly followed by management and monitored daily by the Risk area.

In 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, (il) reduce the risk of contagion in the financial sector on the real sector of the economy, (ii) assist the maintaining financial
stability, and (iv) promoting sustainable economic growth. The implementation of the new Basel Ill rules starts from 1st October 2013.

At March 31, 2014, the Institution’s Basel ratio was 13.66 % (December 31, 2013 – 14.14%), calculated based on the “consolidated financial” statements.

EXT ESE ERA
Tier 1,234,062 1,220,519
Capital 1,234,062 1,220,519
Equity 1,270,802 1,272,408
(+) Prudential Adjustments (86,740) (51,889)

Marko. market adjustments .

Tier 151,995 221,841
Subordinated debt 151,995 221,841
Marko. market adjustments –

Reference equity (PR) 1,385,997 1,442,360
Risk-weighted assets – RWA 10,149,988 10,203,251
Credit risk 9,416,622 9,311,739
Market risk 539,795 731,173
Operational risk 187.571 160,339
Basel ratio -%. 13.66% 14:44%
Capital Level! 1217% 11.96%
Capital 12.17% 11.96%
Capital Level 1.50%, 2.7%

“Y Since October 2013, the reference assets have been determined based on Resolution No. 4.192/13 CMN which provides tha! the determination is made based on “Consoidated Financia”
1% Criteria used, from October 2013, according to Resolution No. 4.192/13 CMN:

1% For purposes of comparabilty, we adjust the “Allocation of minimum capital requirements” of the previous period, as we began to present the corresponding plots of the “Risk-weighted assets – AWAY.

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 further details, structure and methodologies is available on the following website: www.pine.comífi.

1) Equity to fixed assets ratio

In accordance with BACEN Resolution 2286/96, the equity to fixed assets ratio is limited to 50.0%. At March 31, 2014, the equity to fixed assels ratio was 2,23%
(December 31, 2013 – 6.22%)

28. OTHER INFORMATION

a) Provisional Measure 627
Provisional Measure 627 (MP 627/13″), published on November 12, 2013, changed a number of federal tax rules related to IRPJ, CSLL, PIS and COFINS, including
the following (1) revocation of the Transitional Tax Regime (RTT), introduced by Law 11941, of May 27, 2009, regulating the adjustments required by the new
accounting methods and criteria adopted for convergence of Brazilian and international accounting standards; and (il) taxation of legal entities domiciled in Brazil,
related to increases in equity derived from the sharing of profits earned abroad by subsidiary and associated companies.

MP 627/13 ¡s currently under analysis by the Brazilian Federal Congress and a significant number of amendments have been proposed. Moreover, the Brazilian
Federal Revenue Authority (RFB) is expected to discipline specific matters introduced by the Provisional Measure, and accordingly, some of its provision could be
changed, excluded or clarified.

Based on its present wording, Management considers that no significant adjustments arising from MP 627/13 are required to be recognized in the financial statements.
The general rule established by MP 627/13 is that it will come into force only on January 1, 2015, unless the taxpayer opts for its early adoption as from January 1,
2014 (the manner in which this option is to be exercised has not yet been regulated).

Management does not intend to opt for the early adoption of MP 627/13, and will await the definitive regulation of the proposed changes before evaluating their
potential future effects.

39

FEDERAL PUBLIC SERVICE

BRAZILIAN SECURITIES COMMISSION (CVM) PIN

Quarterly Information (TR) Brazilian corporate legi
FINANCIAL INSTITUTION Data Base – 03/31/2014
102056-7 BANCO PINE S/A 62.144.175/0001-20

(A free translation of the original in Portuguese)

06.01 – NOTES TO QUARTERLY INFORMATION
b) Insurance

The Banco Pine’s insurance strategy is based mainly on risk concentration and materiality, and policies are contracted at amounts established by management,
considering the nature of its business and the advice of its insurance brokers. Insurance coverage at March 31, 2014 is as follows:

3 OEA
Directors and Offers Liablty (D8O) Fesponsablidade Civl para Administradores 20.000
Veticies Incéndo, robo e colsáo para 18 veículos 2465
Bullings, machines, fumuro and fxtures Quaisquer danos materials a nsalagóes, máquinas e equpamentos 12000
Banker insurance Valores em espécio 300
Aroralt insurance Garantias por parte do aviso 52

e) 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 is recognized in the statement of operations in the
“Administrative expenses – leased assets” account.

Individual e Consolidat

3 Term O Exa

Expense for leased assets
Machinery and equipment leasing 4.03% 2 249 242
Total 2 249 242

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 first six-month period.

3/31/2014]
Fair value Carrying amount

Assets

Short-term interbank investments ” 1,344,899 1,344,899
Loan operations 5,763,495 5,711,530
Other receivables ‘ 607,224 658,184
Total de ativos financeiros 7,715,618 77613
Lia

Demand deposits 27,372 27,872
Interbank deposits 76,200 76,200
Time deposit 3,271,494 3276,973
Funds from acceptance and issuance of securiies ‘% 1,749,253 1,760,221
Borrowings and onlendings ‘% 2,943,911 3,202,720
Subordinated debiDivida subordinada ‘% 342,493 348,805
Total financial liabilties 8,410,723 8,590,291

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 amount.

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.

e) Disclosure of other services rendered by the independent auditors

In compliance with CVM Instruction 381, of January 14, 2003, for the period from January to March 2014, no services were contracted from the independent auditor
other than those related to the external audit. Banco Pine’s policy is to limit the services provided by its independent auditor to safeguard the auditor’s independence
and objectivity, in conformity with Brazilian and international standards.

29. SUBSEQUENTES EVENTS

On April 30, 2014, BM 8 F Bovespa welcomed, extraordinarily, the application for reduction through new program to repurchase shares, the minimum percentage of
shares outstanding. On May 6, 2014, the new repurchase program was approved at the Board of Directors decided that:

* Divestiture a first amount in order to increase the percentage of outstanding shares at least 23.67% of the shares until October 31, 2014;
* Divestiture of a second amount in order to increase the percentage of outstanding shares at least 24.33% of the shares until April 30, 2015; and
* Divestiture a third amount in order to increase the percentage of outstanding shares at least 25.00% of the shares until October 31, 2015.

40

Link al archivo en CMFChile: https://www.cmfchile.cl/sitio/aplic/serdoc/ver_sgd.php?s567=3db4c8b54ec589e8da86a34c34de0c80VFdwQmVFNUVRVEZOUkVFeFRWUmpNVTVSUFQwPQ==&secuencia=-1&t=1682366909