Institutional Presentation Semptember 2014 · Institutional Presentation Semptember 2014 BBSEY ADR - Level I. Overview . BB Seguridade Participações S.A. | Investor Relations 3

Institutional Presentation

Semptember 2014

BBSEY

ADR - Level I

Overview

BB Seguridade Participações S.A. | Investor Relations 3

Estrutura Acionária - Parcerias Track Record

1981

Establishment of BB’s insurance operations

1992

Creation of Brasilprev

1995

Brasilcap’s inception in partnership with SulAmérica, Icatu and Aliança da Bahia

1996

Establishment of Brasilveículos in partnership with SulAmérica

1999

Partnership with Principal Financial Group in Private Pension Plans

2010

Establishment of the Joint Venture with Mapfre

2008-2011

Ownership restructuring of BB’s insurance, Pension Plans and Premium Bonds division

2012

Establishment of

BB Seguridade

1987

BB Corretora’s establishment

2013

IPO

Equity

investment in

IRB –Brasil RE

Brasildental

Partnership

with Odontoprev

2014

Establishment

of

ADR – Level I

http://www.google.com.br/imgres?imgurl=http://www.sindseg-rj.org.br/images/logos/alba.gif&imgrefurl=http://www.sindseg-rj.org.br/seguradoras.html&usg=__KShNk9BKbBPi7czKXB1AW1GxoYY=&h=88&w=88&sz=6&hl=pt-BR&start=10&zoom=1&tbnid=gBbZduYXJaub3M:&tbnh=77&tbnw=77&ei=3Fa7UNjONYvr0QGswIHICg&prev=/search?q=companhia+de+seguros+alian%C3%A7a+da+bahia&um=1&hl=pt-BR&sa=N&rls=com.microsoft:*&tbm=isch&um=1&itbs=1


Estrutura Acionária - Parcerias Ownership Structure

BB Corretora

Brokerage

Brasilcap

Premium Bonds

100% Total

BB Seguros BB Cor

BB Mapfre SH1

Life, Rural

Mapfre BB SH2

P&C

Brasilprev

Pension Plans

Free Float (Post IPO)

74.9% BB Seguridade Economic Stake (%)

49.9%

50%

100% Total

50.0%

49.0%

50%

74.9%

49.9%

50%

66.7%

49.9%

67%

100%

100% BB Seguridade Volting Stake (%)

Board of Directors Representation (%)

66.25% 33.75%

IRB –Brasil Re

Reinsurance

20.5%

20.5%

20%

74.9%

49.9%

50%

Brasildental

Dental Insurance


Estrutura Acionária - Parcerias Internal Structure

CEO Marcelo Augusto Dutra Labuto

Chief Financial Officer Werner Romera Suffert

Chief Corporate Governance Officer

Leonardo Giuberti Mattedi

Chief Business Development Officer

Ângela Beatriz de Assis

Executive Board

Board of Directors

General Meeting

Fiscal Council

Audit Commitee


Shareholders Structure

FREE-FLOAT BREAKDOWN – SEP/14 SEP/14

Banco do Brasil66,3%

Free-float33,8%

Estrangeiro69,2%

PJ25,6%

PF5,2%


Corporate Governance

Only common shares

100% tag along

80% payout (semi annual dividends)

Stocks

Related-party Comittee

Board of Executive Officers:

Board of Directors:

Two members appointed by Banco do Brasil from its Board of Executive Officers

One appointed by the Ministry of Planning, Budget and Management and the other by the Ministry of Treasury

One member appointed by the minority shareholders

The CEO of BB Seguridade

Four members:

Elected among the active employees of Banco do Brasil

Remuneration policy: fixed monthly wage plus variable portion between six and twelve monthly wages. The variable portion is paid as 50% in cash and 50% in stocks with vesting period of 4 years.

Three members:

One is the independent member appointed by the minority shareholders

The independent member has veto power

Six members:


Board of Executive Officers

Corporate Governance – Affiliates

Board of Directors

SH1 Life

SH2 P&C

Brasilprev Pension Plans

Brasilcap Premium

Bonds

16 members

8 appointments

8 appointments

Companhia de Seguros

Aliança do Brasil

6 appointments

6 appointments

Mapfre Vida S.A Vida Seguradora S.A

16 members

8 appointments

8 appointments

Aliança do Brasil

Seguros S.A

6 appointments

6 appointments

BB Mapfre Assistência

2 Appointments

2 appointments

Brasilveículos

6 appointments

6 appointments

16 members

8 appointments

8 appointments

3 appointments

3 appointments

12 members

8 appointments

2 appointments

2 appointments

4 appointments

Mapfre Affinity

Seguradora S.A

6 appointments

6 appointments

Mapfre Seguros Gerais

S.A

6 appointments

6 appointments

Broker

3 members

3 appointments

10 members

2 appointments

IRB-RE Resseguro

6 appointments

6 appointments

6 appointments

6 appointments

4 members

2 appointments

2 appointments

Brasildental Dental Insurance

3 members

1 appointment

1 appointment

Consesus 1 appointment



Scope of the Related-Party Committee

Captive access to Banco do Brasil’s network

20-year term

No termination clause

Signed in January 2013

Arm’s length

Brasilprev SH1 SH2 Brasilcap

Products sold through BB Corretora

Remuneration: fixed percentage of policies, varying according to product type

Shareholder agreements: 23-year term for PFG, 20-year term for Mapfre and without a defined term for Icatu / Aliança da Bahia

Related-party

Any proposal for changes in the agreements must be examined by the Related-party Committee and the independent member has a veto power


Backed by Banco do Brasil Expertise from Private Partners

Solidity, tradition, security and reliability

Safe harbor, especially for long term products

Flight to quality and less susceptible to market conditions

Brand awareness

Fast decision making

BB Seguridade operates in an arm’s length format

Monitors the developments of any potential conflicts between BB

and BB Seguridade

Improves corporate governance

Minimum voting stake of 50.1%

BB also plays an active role in its operational companies’ governance

Backed by Banco do Brasil with Expertise of Private Partnerships



Bank Channel

BB Seguridade strategy focuses on bancassurance with its own broker, taking advantage of the captive access to Banco do Brasil distribution network.

Low complexity business model

Low capital needs

No underwriting risk

Own Brokerage

Competitive Advantage

Distribution Channel

Non-banking Channel

130 Partnerships (Affinity)

21,794 External Brokers Captive access to larger distribution network in Latin America

61.8 Million clients

5,493 Branches

65,486 ATMs

15,148 Banking Correspondents

34,964 Points of service in shared network

1º

Performance


BB Seguridade at a Glance

Largest Insurance Broker in Latin America

Exclusive access to Banco do Brasil’s unique distribution network

Leading Presence in Premium Bonds, Pension Plans and Life and Rural Insurance

Insurance Operations, Pension Plans and Premium Bonds managed through private partnerships with global leaders

Fast Growing with High Profitability

26% yoy premiums and contributions growth with 51.3%¹ ROAE in 9M14

121 employees at the holding and broker level

7,285 employees at the affiliates level

1. Adjusted ROAE, considering the total distribution of dividends

One of the Largest Insurance, Pension and Premium Bonds Companies in Latin America

R$ 11.9 billion in premiums written, R$ 21.6 billion in pension contributions and R$ 4.7 billion in premium bonds in 9M14

2nd Largest P&C Insurance Company in Brazil

Over 2.8 million insured vehicles and R$ 6.6 billion in premiums written in 9M14


BB Seguridade Performance

PREMIUMS, CONTRIBUTIONS AND COLLECTIONS¹ (R$ MM) BREAKDOWN OF PREMUMS, CONTRIBUTIONS AND COLLECTIONS¹

PROFITABILITY EARNINGS BREAKDOWN

8.72012.996

9.954

15.70712.463

30.353

38.124

22,2% 26,1% 23,6% 30,3% 26,1% 23,8% 26,9%

3T13 4T13 1T14 2T14 3T14 9M13 9M14Receitas Participação de mercado

QoQ: - 21 %

YoY: + 43 %

+26% SH114,8%

SH219,1%

Brasilprev51,5%

Brasilcap14,6%

SH113,8%

SH217,4%

Brasilprev56,6%

Brasilcap12,2%

9M13 9M14

548707 649

845 822

1.553

2.316

42,6%55,8%

49,0%64,9% 60,9%

37,2%51,3%

3T13 4T13 1T14 2T14 3T14 9M13 9M14

Lucro Líquido Ajustado (R$ mi) ROAE Ajustado

QoQ: - 3 %

YoY: + 50%

1 – Premiums written, pension plans contributions and premium bonds collections

+49%

SH128,8%

SH24,6%Brasilprev

20,5%Brasilcap

3,5%

BB Corretora41,4%

Outros0,5%

IRB0,8%

SH129,9%

SH24,4%

Brasilprev17,0%

Brasilcap6,5%

BB Corretora39,4%

IRB2,9%

9M13 9M14²

2 – Do not consider the negative result of R$ 14.6 mi, regarding to Brasildental and Others.


BREAKDOWN OF RETAINED PREMIUMS RETAINED PREMIUMS (MM)

BB Mapfre SH1¹

CHANGES IN TECHNICAL RESERVES (R$ MM) EARNED PREMIUM (R$ MM)

1 – Net of ceded reinsurance

1.3491.596 1.440

1.8851.453

4.106

4.778

3T13 4T13 1T14 2T14 3T14 9M13 9M14

QoQ: - 23 %

YoY: + 8 %

+ 16%

Vida 46,7%

Prestamista31,7%

Habitacional1,9%

Rural15,9%

Demais3,9%

Vida 44,0%

Prestamista28,9%

Habitacional2,3%

Rural20,2%

Demais4,5%

9M13 9M14

233

499

125

511

-36

920

600

3T13 4T13 1T14 2T14 3T14 9M13 9M14

- 35%

1.116 1.097 1.315 1.374 1.489

3.186

4.178

3T13 4T13 1T14 2T14 3T14 9M13 9M14

QoQ: + 8%

YoY: + 33%

+ 31%


BB Mapfre SH1 – Adjusted Ratios¹

34,7

28,3

37,5

31,5 31,735,4 33,4

3T13 4T13 1T14 2T14 3T14 9M13 9M14

27,2 28,726,6 26,4 26,1 26,8 26,4

3T13 4T13 1T14 2T14 3T14 9M13 9M14

77,667,8

78,971,0 71,0

77,5 73,5

3T13 4T13 1T14 2T14 3T14 9M13 9M14

QoQ: + 0.2 p.p.

YoY: - 3.0 p.p.

15,8

10,915,0 13,3 13,3

15,4 13,8

3T13 4T13 1T14 2T14 3T14 9M13 9M14

YoY: - 6.6 p.p. YoY: - 2.5 p.p.

QoQ: - 0.3 p.p.

YoY: - 1.1 p.p.

COMMISSION RATIO (%) LOSS RATIO (%)

COMBINED RATIO (%) G&A RATIO (%)

1 - Adjusted ratios prepared distributing the line “result with reinsurance” among the other lines from the income statement

- 2.0 p.p. - 0.4 p.p.

- 1.6 p.p. - 4.0 p.p.


BB Mapfre SH1

221311

230337 363

596

930

33,1%

48,2%

34,2%50,2%

56,0%

26,0%42,1%

3T13 4T13 1T14 2T14 3T14 9M13 9M14

Lucro Líquido Ajustado (R$ mi) ROAE

95 97 104 109 109

210

323

3T13 4T13 1T14 2T14 3T14 9M13 9M14

Títulos Pré9,4%

Pós - CDI67,3%

Vinculados a Inflação

8,3%

Outros²15,0%

YoY: + 15%

QoQ: + 8%

YoY: + 64%

PROFITABILITY NET INVESTMENT INCOME (R$ MM)

1. Mark-to-market; 2- Agrarian debt bonds, DPVAT, Investment funds

ASSETS UNDER MANAGEMENT BREAKDOWN1

SEP/13 SEP/14

+ 54%

+56%

Títulos Pré8,4%

Pós - CDI69,8%


6,1%

Outros²15,6%


Mapfre BB SH2

Vehicles63,6%

Casualties21,9%

Other14,6%

1.767 1.725 1.762 1.898 2.019

5.1845.679

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14

97

7

-25

151

226

277

352

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14

1.670 1.718 1.787 1.746 1.794

4.9075.327

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14

QoQ: + 6%

YoY: + 14%

QoQ: + 3%

YoY: + 7%

QoQ: + 49%

YoY: + 134%

9M13 9M14

BREAKDOWN OF RETAINED PREMIUMS

EARNED PREMIUM (R$ MM)

RETAINED PREMIUMS¹ (R$ MM)

CHANGE IN TECHNICAL RESERVES (R$ MM)

1 – Net of ceded reinsurance

+ 10%

+ 27% + 9%

Vehicles 63,2%

Casualties 22,6%

Other 14,2%


Mapfre BB SH2 – Adjusted Ratios¹

56,553,6 55,7

60,056,2 54,7 57,3

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14

24,0 25,023,4 22,4 22,3 23,8 22,7

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14

19,3 21,2 17,0 19,1 19,3 18,9 18,5

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14

99,8 99,8 96,1 101,5 97,8 97,4 98,4

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14

QoQ: - 3.7 p.p.

YoY: - 2.0 p.p.

QoQ: - 3.8 p.p.

YoY: - 0.3 p.p.

QoQ: + 0.2 p.p.

QoQ: - 0.1 p.p.

YoY: - 1.7 p.p.

COMMISSION RATIO (%)

COMBINED RATIO (%) G&A RATIO (%)

LOSS RATIO (%)

1 – Adjusted ratios prepared distributing the line “result with reinsurance” among the other lines from the income statement

+ 2.6 p.p. - 1.1 p.p.

- 0.4 p.p. + 1.0 p.p.


Mapfre BB SH2

6583 86

10992

133

287

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14

3956

86

4671

143

203

6,2% 8,5% 12,6%6,5%

9,8% 7,6% 9,3%

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14

Adjusted Net Income (R$ MM) ROAE

Pre-Fixed10,6%

Floating42,1%

Inflation Protected

4,7%

Others²42,5%

Pre-Fixed2,1%

Floating56,4%

Inflation Protected

2,0%

Others²39,5%

QoQ: - 15%

YoY: + 42%

QoQ: + 52%

YoY: + 81%

PROFITABILITY (R$ MM) NET INVESTMENT INCOME (R$ MM)

1. Mark-to-market ; 2- Agrarian debt bonds, DPVAT, Investment funds

SEP/13 SEP/14

ASSETS UNDER MANAGEMENT BREAKDOWN1

+116% + 42%


Pension Plans

3,7

7,45,1

9,37,2

15,6

21,6

1,1

4,82,5

7,04,4

8,9

13,9

12,5%11,1% 10,6%

8,9% 9,1%

11,2%9,5%

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14

Contributions Net Inflows Redemptions ratio

PGBL10,2%

VGBL

88,0%

Traditional¹

1,8%

PGBL7,1%

VGBL91,2%

Traditional¹1,7%

153 167 175 166 186

425

528

58,4% 58,0% 59,9% 54,5% 58,7%49,7% 50,1%

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14Adjusted Net Income (R$ MM) ROAE

271 271 268 287333

760

889

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14

QoQ: + 16%

YoY: + 23%

QoQ: + 12%

YoY: + 21%

9M13 9M14

BREAKDOWN OF CONTRIBUTIONS

PROFITABILITY (R$ MM) MANAGEMENT FEE (R$ MM)

CONTRIBUTIONS & NET INFLOW (R$ BI)

1. Defined remuneration plan

+ 17%

+ 24%


Pension Plans

77,283,5 87,8

97,0103,4

Sep/13 Dec/13 Mar/14 Jun/14 Sep/14

Pre-Fixed5,7%

Floating5,0%

Inflation Protected

89,3%

Pre-Fixed6,8%

Floating5,4%

Inflation Protected

87,8%

Government Bonds74,0%

Securities²14,9%

Debentures and commercial

papers8,3%

Stocks2,7%

Government Bonds77,4%

Securities²14,3%

Debentures and commercial

papers6,6%

Stocks1,6%

PGBL25,1%

VGBL64,6%

Traditional¹10,3%

PGBL21,5%

VGBL70,3%

Traditional¹8,1%

SEP/13 SEP/14

RESERVES BREAKDOWN RESERVES (R$ BI)

TRADITIONAL PLANS PORTFOLIO ASSETS UNDER MANAGEMENT BREAKDOWN

SEP/13 SEP/13 SEP/14 SEP/14

QoQ: + 7%

YoY: + 34%

1. Defined remuneration plan

2. Securities = Time deposits, Time Deposit with Special Guarantee, Real Estate Receivables Certificate, Creditory Rights , Letras Hipotecárias and Letras Financeiras


Premium Bonds

218 270 256342 319

643

918

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14

425 506 488610 563

1.260

1.660

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14

SH150,4%

SH217,9%

Brasilprev15,1%

Brasilcap16,0%

Other0,7%

SH153,6%

SH214,7%

Brasilprev16,3%

Brasilcap15,1%

Other0,3%

9M13 9M14 QoQ: - 8 %

YoY: + 32 %

QoQ: - 7%

YoY: + 46%

REVENUES BREAKDOWN

EXPENSES BREAKDOWN & NET MARGIN (%)

BROKERAGE REVENUES (R$ MM)

ADJUSTED NET INCOME (R$ MM)

17,9 15,9 16,5 11,8 10,818,3 12,9

7,3 7,4 7,37,4 7,3

7,17,4

26,5 27,6 27,129,0 29,2

26,428,5

51,7 50,8 50,9 48,3 47,451,7 48,7

51,2% 53,2% 52,6% 56,1% 56,7%51,0%

55,3%

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14

Operating expenses Tax expenses Income taxes Net Margin

+ 32%

+ 43%

QoQ: - 0.9 p.p.

YoY: - 4.3 p.p.

- 3.0 p.p.


Premium Bonds

TECHNICAL RESERVES (MM) PORTFOLIO BREAKDOWN

TRADING PORTFOLIO BREAKDOWN

8.4829.489 9.810 10.359 10.995

Set/13 Dez/13 Mar/14 Jun/14 Set/14

QoQ: + 6 %

YoY: + 30 %

Títulos públicos67,8%

Títulos¹15,0%

Debêntures NPs6,3%

Outros10,8%

Títulos públicos80,9%

Títulos¹6,9%

Debêntures NPs

9,9%

Outros2,3%

SEP/13 SEP/14

1. Securities = Time deposits, Time Deposit with Special Guarantee, Real Estate Receivables Certificate, Creditory Rights , Letras Hipotecárias and Letras Financeiras

Títulos Pré42,9%

Pós - CDI52,0%


4,0%

Fundo Ações1,1%

Títulos Pré48,5%Pós - CDI

44,1%


6,1%

Fundo Ações1,3%

SEP/13 SEP/14


Brokerage

218 270 256342 319

643

918

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14

425 506 488610 563

1.260

1.660

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14

SH150,4%

SH217,9%

Brasilprev15,1%

Brasilcap16,0%

Other0,7%

SH153,6%

SH214,7%

Brasilprev16,3%

Brasilcap15,1%

Other0,3%

9M13 9M14 QoQ: - 8 %

YoY: + 32 %

QoQ: - 7%

YoY: + 46%

REVENUES BREAKDOWN

EXPENSES BREAKDOWN & NET MARGIN (%)

BROKERAGE REVENUES (R$ MM)

ADJUSTED NET INCOME (R$ MM)

17,9 15,9 16,5 11,8 10,818,3 12,9

7,3 7,4 7,37,4 7,3

7,17,4

26,5 27,6 27,129,0 29,2

26,428,5

51,7 50,8 50,9 48,3 47,451,7 48,7

51,2% 53,2% 52,6% 56,1% 56,7%51,0%

55,3%

3Q13 4Q13 1Q14 2Q14 3Q14 9M13 9M14

Operating expenses Tax expenses Income taxes Net Margin

+ 32%

+ 43%

QoQ: - 0.9 p.p.

YoY: - 4.3 p.p.

- 3.0 p.p.


Guidance 2014

Ratio Previous Estimates 9M14

¹Adjusted ROAE calculated by deducting the total distribution of dividends.

Revised Estimates

BB Seguridade - Adjusted ROAE¹ 44% - 49% Maintained 51.3%

Premiums written growth - BB Mapfre SH1 24% - 32% Maintained 16.7%

Premiums written growth - Mapfre BB SH2 19% - 26% 12% - 15% 14.8%

Collection growth - Pension Plans 33% - 47% Maintained 38.0%

Collection growth - Premium Bonds 10% - 15% 3% - 6% 5.0%


Low penetration of health beneficiaries

High ROAE with no underwriting risk

Health Insurance

Focus solely on distribution

Not part of Banco do Brasil’s current portfolio

Health Insurance Distribution

Health Insurance

Opportunity to distribute partners’ products in the banking channel

Ex: Travel, micro-insurance and warranty

1st bank to receive SUSEP’s authorization to

sell micro-insurance

Potential to develop new products

Introduction of products

already tested by partners in other markets

New Products

Focus on maximizing impact and reach of product offerings

Attractive and high growth sector High ROAE with low risk Low penetration of dental plans High Cash flow

Dental insurance

Brasil dental

Joint-venture with Odontoprev, created for

dental insurance operation

74,99% of Total Equity

20-year term

Entry in an underpenetrated segment

Strategic partnership with an experienced player

Infrastructure focused (PAC and Olympics are likely to increase demand)

Reinsurance

Acquisition of 20,5% of IRB’s

common shares

Joining the control group

Deliverables

Portfolio of Products


Our Products – SH1 Insurances

Definition: term life insurance without accumulation.

Coverage: in case of death, permanent disability or severe disease during the term, the benefit will be paid to the insured or his beneficiary.

Life

Definition: encompasses a group of three main products: crop insurance, rural lien insurance and credit life insurance to farmers.

Coverage: (i) Crop: any weather hazards and falling in the market prices of the crop; (ii) Lien: damage caused to the property, directly related to agricultural activities, which is provided as collateral of a rural loan; (iii) Credit life: in case of death of the insured the insurance company will prepay the rural loan.

Rural

Definition: insurance related to mortgage loans.

Coverage: in case of death or permanent disability the remaining balance of the loan will be prepaid. This product also protects the home of the insured from physical damage.

Mortgage Life

Credit Life Definition: insurance that guarantee the payment of loans.

Coverage: in case of death the insured loan will be prepaid and his relatives will not inherit the debt.


Our Products – SH2 Insurances

Definition: A mandatory insurance related to accidents caused by vehicles in Brazil.

Coverage: Covers personal injury caused by vehicles to passengers, drivers or pedestrians.

DPVAT

Definition: insurance sold to individuals or companies that provides protection

to vehicles.

Coverage: is an insurance policy designed to provide protection for vehicles against theft, physical damage and/or bodily injury resulting from traffic colli-sions, besides other assistances provided to the policy holder for their daily lives.

Auto

Definition: is a type of insurance sold to individuals and companies that provides protection against risks to properties linked or not to loans.

Coverage: the main coverage is for damages to the home of individuals, and the assets of companies such as machinery and other properties.

P&C


Our Products - BrasilPrev

Defined remuneration Guarantees a minimum yield composed of either inflation +6% or TR + 6%.

* No longer sold

Traditional Plan*

Pension Plan designed for people who declare income taxes in the complete

form as contributions are deductible up to a limit of 12% of the clients taxable income.

PGBL

Pension Plan designed for people who declare income taxes in the simplified format or is exempt.

Focus on succession. Much lower inheritance costs (does not have either legal or tax costs) Less time consuming (beneficiary receives it in less than 30 days)

VGBL


Our Products - BrasilCap

Premium Bonds

Premium bonds products are an alternative way to accumulate reserves, with maturity and interest rates previously determined, allowing the bond holder to be entitled to participate in lottery. The award occurs through periodic drawings, being most frequent the usage of a combination of numbers in a pre-determined series, based on the Brazilian Lottery.

Chances of Contemplation

Ourocap From 1 in 10,000 to 1 in 1,000,000

Official Lottery 1 in 50,063,860

Documents

Institutional Presentation Semptember 2014 · Institutional Presentation Semptember 2014 BBSEY ADR - Level I. Overview . BB Seguridade Participações S.A. | Investor Relations 3