The Brazilian card

SHAREHOLDERS’ ORG CHART

24 24 24

2872

Piana Commerce Sector

WIG Piana GroupWig Participations(Holding)

Caité Distribution Piana Car Services

Piana Bros (Holding)

Porto Seguro Vehicles

Piana Commerce Piana Vehicles PME Machinery

Piana Bros (Holding)

Porto Seguro Vehicles

ABW Participations

(Holding)

Gross revenue in 2012:1.3 billion Brazilian ReaisCapital Origin : BrazilControl: PrivateActivities:Retail commerce in distribution, agricultural machinery and tools,construction machinery, equipment and material.

Major ExecutivesWalter José Piana, Walter José Boina Piana, GiovanniPiana, Ivie Boina Piana.

Address: Alameda Grajaú,129, 1º andar - Alphaville,Barueri, São Paulo,06454-050

SHAREHOLDERS’ ORG CHART

LEGEND

FIM WIG: Multimarket Investment Fund – WIG

FIP Piana: Private Equity Investment Fund – Piana

WIG: WIG Participations (Holding)

FIDC NP: Non-Stardardized Receivables Investment Fund - Recupera

WIG Piana GroupParticipations

(Holding)

CARDS AVISTA

Matrix

Barueri/SP

A Avista AS – Credit Card Administration is a service provider for card issuing, registration of commercial organizations and credit card processing.

With the expansion of the credit industry and the strenghtening of the low-income segment over the last years, Avista has built up a portfolio of over 2 million credit cards and a close relationship with thousands of partner shopowners throughout Brazil.

Avista card is part of the Pianna Group, a corporate holding that has been in the marketplace for over 60 years with a solid activity in the retail business. With its head o�ce in Barueri, state of São Paulo, Avisa has o�ces in all cities in which it is commercially operative.

In order to grow even more in the segment, Avista has used its expertise in personal sales, as well as its calling to leverage partnerships in consumables retail business.

Nowadays, Avista holds the leadership in the Private Label Cards business.

SUMÁRIO EXECUTIVO

CREDIT CARD MARKET

OrbitallFidelity

CSUEDS (HP)

Tivit

ISSUERS

USERS SHOPOWNERS

PROCESSORS ACCREDITORS

INTERNATIONAL AND DOMESTIC CREDIT CARD LABELS

When a sale is closed, not all the money goes to the shopowner: a percentage of the amount charged by the accreditor (3%) is distributed between the Label and the Issuer.

97,00R$ 3,00R$

0,12R$ 1,38R$ 1,50R$A 100-Brazilian-Real Sale

BUSINESS MARGINS

LABE

L

SHOPOWNER

ACCR

EDIT

OR

ISSU

ER

Source: Veja Magazine, August 18, 2010.

1.000 Cards (thousand)6665263541115125110

Commencement of operations in other cities of Espírito Santo2002/2003

2004/2005

Partnership with Central de Compras and consolidation in Espírito Santo2006

Commencement of operations in Rio de Janeiro through the Campos/RJ branch 2007/2008

Commencement of activities in Minas 2009

1.324

ICommencement of activities in São Paulo/SP and partnership with Rede-2011

2010

Head o�ce transferred to Barueri/SP2012

Commencement of operations in Salvador/BA, Recife/PE and 2013

1.800 2.246

Project start-up2000

Expanstion to the Greater Vitória/ES

Expansion to Rio de Janeiro

HISTORY

THE MARKET AND USQUANTITY OF CARDS

11 thousand

25 thousand

51 thousand

111 thousand

197 thousand

354 thousand

526 thousand

666 thousand

1 million

42 million

45 million

53 million

68 million

79 million

93 million

124 million

136 million

153 million

MA

RKET

56%The year

AVIS

TA

20%The year

1,3 million

1,8 million

180 million

200 million

2,3 million

3,4 million

215 million

230 million

5 million 246 million

Avista Cards has had an exponential growth: while market growth was 20% in 2012, Avista had a 56% growth.Such vigorous growth can be explained by agile processes, vertical operations and focus on social classes C, D and E (low-income).

2010

2009

2008

2007

2006

2005

2004

2003

2002

2012

2011

2013

2015

2014

AVISTA is one of the 10 leading domestic credit card labels and our target is to be one of the 5 leading labels in 2015, with over 5 million cards

Source: Melhores e Maiores July 2013 issue - (Source: Banks – including AVISTA �gures)*Active Cards: Cards with at least one purchase over the last 3 months.

COMPANY

BRADESCO 56.900

5 leading

741

Credit

AVISTA 469 Credit

PANAMERICANO

3.742 CREDICARD CITI Credit

Credit

BANCO DO BRASIL 21.016 Credit

CAIXA 8.700 Credit

CITI 446 Credit

BMG 693 Credit

VOTORANTIM 372 Credit

CARD TYPECARDS (thousand)

33.300 Credit ITAU UNIBANCO

10 MAJOR CREDIT CARD ISSUERS IN BRAZIL

WHERE WE ARE

Leader in the Private Label segment!

4.606

*As of April 2013

*image for illustration purposes only

45.484

Our PartnershipsPrivate Partner:

Registered Partner:

Expansion to 2014

LEADER IN PRIVATE LABEL CARDS

www.avista.com.br

Head O�ce - Barueri/SPAl. Grajaú, 129 . Ed. Murano. 1º andar

Alphaville . CEP 06454-050 . Tel.: (11) 2129 3999

Branch - São Paulo/SPR. Diogo Moreira, 132 . Ed. Faria Lima Premium. 15º andar

Pinheiros . CEP 05423-010 . Tel.: (11) 2129 3975

Branch - Rio de Janeiro/RJAv. Nilo Peçanha, 50 . Ed. De Paoli . 13º andarCentro . CEP 20020-100 . Tel.: (21) 2199 0700

Branch - Belo Horizonte/MGAv. do Contorno, 6594 . 17º andar

CEP 30110-044 . Tel.: (31) 3555 3319

Branch - Vitória/ESAv. Vitória, 1170

Forte São João. CEP 29017-020 . Tel.: (27) 2123 2323

Branch - Recife/PEAv. Engenheiro Antônio de Góes, 60 . 14º andar

Pina . CEP 51010-000 . Tel.: (81) 2122 8140

Branch - Salvador/BAAv. Tancredo Neves, 620 . 33º andar

Caminho das Árvores . CEP 41820-020 . Tel.: (71) 2202 6031

Branch - Fortaleza/CEAv. Dom Luis, 807, Sl 2013. Edifício Etevaldo . 20º e 21º andares

Meireles . CEP 60160-230 . Tel.: (85) 3402 8520