PERUMay 2015

INTERNATIONAL SUPPORT KIT OF OPPORTUNITIES

ISKO Peru

The Country's Economic Context

Industry Structure

International Trade, Bilateral Trade with Portugal and Opportunities

Novo Banco Internationalisation Support

Contacts

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Business Environment and Key Factors

Business environment

Lima

Ease of doing business 35/189(Doing Business 2015 ranking)

Investor protection 40/189Cross-border trade 55/189Contract fulfilment 100/189

Economic Freedom 47/178(Economic Freedom 2014 ranking)

Competitiveness 65/144(Global Competitiveness Index 2014-2015 ranking)

Basic Requirements 74/144Infrastructure 88/144Institutions 118/144

Effiiciency Enhancers 62/144Innovation and Sophistication 99/144

Cosec (Risk group) 3Grade 1 (lowest risk) to 7 (highest risk)

Double Taxation Convention with Portugal Yes

Standard & Poor´s (Rating) (AAA rating (lowest risk) to D (highest risk, default))

Long term debt in local currency A-Long term debt in foreign currency BBB+Outlook Stable

Capital: Lima Official Language: Spanish (81.4%)Population (Millions): 30.9 (2013) Surface Area: 1 285 thousand km2Time Zone: GMT - 05H00 Currency: Nuevo Sol (PEN)Type of Government: Presidential Democracy Religion: Catholic majority (81.3%)

Sources: Bloomberg, CIA The World Factbook, COSEC, World Economic Forum, Global Heritage.

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152.4 152.8 173.0 189.0 196.8

5.82.4 3.8 5.0 5.5

7.5 6.0 6.0 6.0 6.0

2.8 3.2 2.5 2.0 2.0

3.6 3.8 3.5 3.5 3.5

-4.4 -4.1 -4.6 -4.3 -3.8

0.7

-0.1 -1.7 -1.4 -1.2

2013 2014 2015E 2016E 2017E

Macroeconomic Indicators

GDPCurrent pricesEUR billion

GDP real growth ratePercentage

Unemployment RatePercentage of working population

Inflation RatePercentage

Exchange RateEUR/PEN

Current AccountPercentage of GDP

Fiscal BalancePercentage of GDP

E Estimates.Sources: IMF, CIA, Bloomberg.

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International Integration (I)

Sources: AICEP, NB.

Paraguay

Argentina Uruguay

Brazil

Venezuela

Bolivia

Chile

Colombia

Peru

Ecuador

GuyanaSuriname

Members Adhesion process Associated

MERCOSUL – Southern Common MarketSeeks to promote economic and social progress amongst member states, through the gradual formation of a Common Market. www.mercosur.int/

CAN – Andean CommunitySeeks to promote balanced and harmonious growth in member states under equitable conditions, through economic and social integration and cooperation. www.comunidadandina.org

ALADI – Latin American Integration AssociationSeeks to gradually and progressively establish a Latin American market by means of the implementation of a Preferential Regional Tariff system.www.aladi.org/

SELA – Latin American and the Caribbean Economic SystemComprising 28 Latin American countries, SELA seeks to accelerate economic and social development among member states. www.sela.org/

FTAA – Free Trade Area of the AmericasSeeks to eliminate customs barriers between 34 Latin American countries in order to form a free trade area for the Americas. www.ftaa-alca.org

PACIFIC ALLIANCE - Seeks to do an economic integration and free trade. http://alianzapacifico.net/

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Free Trade Agreement with the European Union

The free trade agreement between Peru and European Union

(EU) entered in March/2013. The agreement improved more

stable conditions for trade and investment and are expected to

boost trade and investment between the two regions.

Between 2008 and 2013, total trade in goods between the

European Union and Peru increased by 43%, rising from EUR 6.1

billion, in 2008, to EUR 8.8 million, in 2013. The TCMA08-13

exports was 6%, rising from EUR 4 billion to EUR 5.3 billion,

while imports TCMA08-13 increased 9.8%, from EUR 2.2 billion to

EUR 3.5 billion. In terms of trade balance, in 2013, Peru had a

superavit of EUR 1.8 billion.

International Integration (II)

Sources: UN Comtrade, DESA/UNSD, NB.

CAGR08-13 of imports 9.8%6.0% 1.8

Total trade2008 Total trade2013

EUR billion: 6.1 EUR billion: 8.8

Goods exports Goods imports

43%

Peru balance trade with European Union (EU-28)2008, 2012 and 2013 (EUR billion)

Compound Annual Growth Rate (CAGR) Superavit

CAGR08-13 of exports EUR billion:

2.2

3.5 3.54.0

6.3

5.3

2008 2012 2013

The Country's Economic Context

Industry Structure

International Trade, Bilateral Trade with Portugal and Opportunities

Novo Banco Internationalisation Support

Contacts

ISKO Peru

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Sectoral and Regional Structure of GDP

Sources: Banco Central de Reserva del Peru, Instituto Nacional de Estadística e Informática - Dirección Nacional de Cuentas Nacionales.

Breakdown of GDP by sector (2013) Breakdown of GDP by state (2012)

Services account for 60% of Peru’s GDP and 6 States - Lima, Arequipa, La Libertad, Piura, Ancash and Cuzco – represent over two thirds of GDP.

Lima; 45%

Arequipa; 5%La Libertad;

5%

Piura; 5%Ancash; 4%

Cuzco; 3%

Other, 33%

Agriculture, Fisheries and Forestry; 5.8% Mining and Oil

& Gas; 12.1%

Manufacturing; 15.1%

Electricity and Water; 1.7%

Construction; 6.9%

Distribution, Restaurants and Hotels;

14.1%Transports and Communication

s; 8.9%

Financial Institutions and

Insurance; 3.8%

Services to companies;

4.8%

Public services; 4.8%

Real State; 4.3%

Other services; 17.7%

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BankTotal Assets(USD billion)

World rank(Tier 1)

Banco de Credito del Peru 35.0 329

BBVA Continental 20.2 FO1

Scotiabank Peru 14.6 FO1

Interbank 10.6 653Banco de la Nacion 9.6 923

1 - FO (Foreign Owned): This bank has significant presence in this country, but consolidates with its parent company.Sources: IMF, “The Banker”, World Economic Forum.

FINANCIAL SYSTEM

The Economy’s Sectoral Structure (I)

The largest banks operating in Peru, 2013

The financial system is solid, profitable and well-capitalised, abiding by good prudentialgovernance. Financial strength indicators did not deteriorate significantly during the 2008-09crisis, to a large extent due to limited cross-border exposure, good supervision and healthybalance sheets. In July 2010, more rigorous capital requirements were imposed relating toaccounting for credit risks denominated in foreign currency, the economic cycle andconcentration risk. Stress tests recently carried out reveal that the banking system is capable ofresisting severe shocks, although in some difficult scenarios some smaller banks would requireadditional capital.

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AGRICULTURE

FISHERIES

Peru has around 3 thousand km of coastline and a great variety of fish, crustaceans and molluscs, due to the

abundance of plankton and cold currents.

In 2012, the fisheries sector contracted by 11.6%. This trend continued in 2013 (1st trimester) with a

decrease of 4.5% due to an decrease in human consumption of fish. The sector accounted, in 2012, for 6%

of exports, exporting goods worth USD 938.8 million.

The 53 coastal valleys, comprising 260 thousand hectares, represent the best arable land in the country,

where the average temperature is 19.2ºC, permitting annual harvests. Water resources are sufficient but are

unevenly distributed, pointing to opportunities for the construction of infrastructure to aid irrigation. The

traditional crops are cotton, sugar and yellow corn, but, during the last decade, new crops destined for the

export market have been introduced.

Agriculture, fisheries and forestry accounted for 5.8% of Peruvian GDP, in 2013. Peru has two kinds of

agriculture, the modern and the traditional. Traditional agriculture is geared towards the internal market, has

low productivity and employs large numbers of poorly qualified workers. Modern agriculture is geared

towards the export market, uses high technology and machinery and is dominated by medium-sized and

large companies.

Sources: IMF, Boletín trimestral del INEI (Instituto Nacional de Estadística e Informatica).

The economy’s sectoral structure (II)

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MINING

The sector has access to 64 million hectares for mining exploration but less than 3% of the country’s mining

potential is exploited. Substantial investments have been made in mining in recent years, due to the wealth

of natural resources and to legislation promoting investment.

In 2012, the mining sector accounted for 36% of the country’s exports, totalling USD 5.3 billion, a 1.7%

decrease over the prior year, and 207 600P direct jobs, an increase in excess of 20% in relation to 2011.

The country’s wealth in mining is reflected in its rank in terms of production, in 2013; it was the 3rd largest

producer of silver, copper, zinc and tin.

Sources: IMF, Instituto Nacional de Estadistica e Informatica of Peru , U. S. Geological Survey.

Ore World Rank 2013 Position in Latin America 2013

Gold 5 1

Silver 3 2

Copper 3 2

Zinc 3 1

Tin 3 1

The economy’s sectoral structure (III)

P Preliminary value.

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INDUSTRIALSECTOR

Up until 1993, Peru’s industrial sector was highly protected, leading to the establishment of monopolies,

under-capitalisation, high inefficiency and out-of-date technology. With the opening up of the economy, the

sector’s vulnerability became evident and many factories were forced to close and consolidation amongst

local conglomerates was promoted as well as foreign direct investment in new projects.

Various corporate cooperatives in the sector have been demanding greater government support and, in

recent years, a series of stimulus measures have been taken, including financial assistance for companies

in difficulty, tax incentives and funding. These measures seek to reduce operating costs and increase the

use of technology in order to raise competitiveness in the sector, which absorbs much labour.

According to the National Institute of Statistics and Informatics (INEI), in 2012, the manufacturing sector

grew 1.3%, with positive contributions from manufacturing nonmetallic mineral products (9.9%) and metal

products manufacturing (5.1%). In the first quarter of 2013 (y-o-y), there was a decrease of 0.2% as a result

of lower production of textile and leather (-15.7%), furniture industry (-9.3%), metal industry (-7.7%) and the

food industry (-1.3%).

Sources: IMF, Instituto Nacional de Estadística e Informática-INEI.

The economy’s sectoral structure (IV)

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Sources: World Tourism Organization, World Travel & Tourism Council (WTTC).

TOURISM

Since 1993, thanks to political stability, economic and social, the tourism industry had an

important growth, underpinned by domestic and international tourism. In 2013, the tourism

sector represented 3.5% of the Peruvian economy and is expected to grow by 5%, in 2014.

This sector contributes directly 2.4% of total employment. In 2013, the number of foreign

tourists totalled around 3 164 thousand, a 13% increase in relation to 2012.

The economy’s sectoral structure (V)

World rank Country 2013

(USD billions)2013

(% of GDP)

7 Brazil 77.0 3.5%8 Mexico 74.7 5.9%

World Average 18.0 2.9%23 Argentina 16.7 3.5%33 Venezuela 12.4 3.2%41 Chile 9.0 3.2%43 Peru 7.3 3.5%48 Colombia 6.4 1.7%72 Costa Rica 2.3 4.6%80 Guatemala 1.7 3.3%83 Ecuador 1.7 1.9%

Direct contribution of the tourism sector to GDP, 2013

Foreign Tourists 2009-2013(thousands)

2 140 2 2992 598

2 8463 164

2009 2010 2011 2012 2013

The Country's Economic Context

Industry Structure

International Trade, Bilateral Trade with Portugal and Opportunities

Novo Banco Internationalisation Support

Contacts

ISKO Peru

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International Trade – Partners

Source: UN Comtrade, DESA/UNSD.

Ranking Country 2013(EUR Millions)

Share(%)

CAGR08-13

(%)Ranking Country 2013

(EUR Millions)Share

(%)CAGR08-13

(%)

1 USA 6 639.7 20.6 11.6 1 USA 5 596.0 17.9 7.1

2 China 6 322.6 19.6 18.0 2 China 5 527.7 17.7 16.8

3 Brazil 1 751.0 5.4 1.3 3 Switzerland 2 279.0 7.3 -0.3

4 Ecuador 1 453.1 4.5 3.8 4 Canada 2 053.4 6.6 9.1

5 Mexico 1 369.6 4.2 11.6 5 Japan 1 677.2 5.4 5.8

6 South Korea 1 197.0 3.7 17.7 6 Brazil 1 284.1 4.1 16.1

7 Argentina 1 178.2 3.7 1.8 7 Chile 1 257.2 4.0 0.1

8 Colombia 1 105.5 3.4 4.9 8 Spain 1 183.6 3.8 11.2

9 Japan 1 083.4 3.4 4.5 9 South Korea 1 160.4 3.7 25.3

10 Germany 1 047.9 3.2 12.4 10 Germany 879.4 2.8 4.7

… … … … … … … … … …

48 Portugal 35.2 0.1 33.6 48 Portugal 17.6 0.1 1.3

Peru's imports by country, 2013 Peru's exports by country, 2013

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International Trade – Goods Imports and Exports (World)

Source: UN Comtrade, DESA/UNSD.

Products (H.S. 4) 2013(EUR Millions )

Share(%)

CAGR08-13 (%) Products (H.S. 4) 2013(EUR Millions )

Share(%)

CAGR08-13 (%)

2709 - Petroleum Oils And Oils Obtained From Bituminous Minerals, Crude

2 526.1 7.7 1.97108 - Gold, Incl. Gold Plated With Platinum, Unwrought Or Not Further Worked Than Semi-Manufactured Or In Powder Form

6 044.0 19.2 9.9

2710 - Petroleum Oils And Oils Obtained From Bituminous Minerals (Excl. Crude); Preparations Containing >= 70 % By Weight Of Petroleum Oils

2 391.3 7.3 15.4 2603 - Copper Ores And Concentrates 5 722.6 18.2 11.4

8703 - Motor Cars And Other Motor Vehicles Principally Designed For The Transport Of Persons

1 338.1 4.1 16.72710 - Petroleum Oils And Oils Obtained From Bituminous Minerals (Excl. Crude); Preparations Containing >= 70 % By Weight Of Petroleum Oils

2 485.2 7.9 10.2

8704 - Motor Vehicles For The Transport Of Goods, Incl. Chassis With Engine And Cab

1 177.7 3.6 16.1 7403 - Copper, Refined, And Copper Alloys, Unwrought (Excl. Copper Alloys Of Heading 7405)

1 589.1 5.0 -2.8

8517 - Telephone Sets, Incl. Telephones For Cellular Networks Or For Other Wireless Networks

933.1 2.9 5.8 2711 - Petroleum Gas And Other Gaseous Hydrocarbons

1 193.1 3.8 185.2

8471 - Automatic Data-Processing Machines And Units Thereof; Magnetic Or Optical Readers

602.7 1.8 18.42301 - Flours, Meals And Pellets, Of Meat Or Meat Offal, Of Fish Or Of Crustaceans, Molluscs Or Other Aquatic Invertebrates, Unfit For Human

1 040.8 3.3 1.4

8429 - Self-Propelled Bulldozers, Angledozers, Graders, Levellers, Scrapers, Mechanical Shovels, Excavators

599.0 1.8 13.5 2607 - Lead Ores And Concentrates 862.0 2.7 9.6

1001 - Wheat And Meslin 471.2 1.4 3.4 2608 - Zinc Ores And Concentrates 781.7 2.5 -2.3

8528 - Monitors And Projectors, Not Incorporating Television Reception Apparatus; Reception Apparatus For Television

441.7 1.4 15.7 2601 - Iron Ores And Concentrates, Incl. Roasted Iron Pyrites

645.0 2.0 19.8

1005 - Maize Or Corn 437.5 1.3 9.40901 - Coffee, Whether Or Not Roasted Or Decaffeinated; Coffee Husks And Skins; Coffee Substitutes Containing Coffee In Any Proportion

523.7 1.7 3.6

Peru's Top 10 imports, 2013 Peru's Top 10 exports, 2013

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6

24

29

19

25

19

2008 2012 2013

79º (share: 0.03%)

67º (share: 0.1%)

Source: INE.

Compound Annual Growth Rate (CAGR)CAGR08-13 of exports = 38.0%CAGR08-13 of imports = 0.3%

SuperavitEUR 10 million In 2013,

210 companies exported goods to Peru

In 2012,167companies exported

goods to Peru

+26%

Exports of goods Imports of goods

International Trade – Bilateral relations with Portugal (I)

Portugal’s balance trade Peru, 2008, 2012 and 2013 (EUR millions)

Ranking and share as Portugal customer and provider (goods)

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International Trade – Bilateral relations with Portugal (Goods) (II)

Source: UN Comtrade, DESA/UNSD.

Products (H.S. 4) 2013(EUR Millions )

Share(%)

CAGR08-13 (%) Products (H.S. 4) 2013(EUR Millions )

Share(%)

CAGR08-13 (%)

7901 - Unwrought Zinc 5.3 28.2 -7.04802 - Uncoated Paper And Paperboard, Of A Kind Used For Writing, Printing Or Other Graphic Purposes

6.4 22.7 155.0

0713 - Dried Leguminous Vegetables, Shelled, Whether Or Not Skinned Or Split

2.6 13.5 7.5 7308 - Structures And Parts Of Structures "E.G., Bridges And Bridge-Sections, Lock-Gates, Towers

3.8 13.4 167.6

0307 - Molluscs, Fit For Human Consumption, Even Smoked, Whether In Shell Or Not, Live, Fresh, Chilled, Frozen, Dried, Salted Or In Brine

2.1 11.1 7.78544 - Insulated "Incl. Enamelled Or Anodised" Wire, Cable "Incl. Coaxial Cable" And Other Insulated Electric Conductors

1.9 6.8 154.0

2827 - Chlorides, Chloride Oxides And Chloride Hydroxides; Bromides And Bromide Oxides; Iodides And Iodide Oxides

1.8 9.5 3.9 8504 - Electrical Transformers, Static Converters, E.G. Rectifiers, And Inductors; Parts Thereof

1.6 5.6 92.5

0806 - Grapes, Fresh Or Dried 1.8 9.5 19.4 8703 - Motor Cars And Other Motor Vehicles Principally Designed For The Transport Of Persons

1.4 5.1 132.8

2833 - Sulphates; Alums; Peroxosulphates "Persulphates"

1.0 5.5 -5.9 3004 - Medicaments 1.4 5.0 15.3

2825 - Hydrazine And Hydroxylamine And Their Inorganic Salts; Inorganic Bases, Metal Oxides, Hydroxides And Peroxides, N.E.S.

0.7 3.8 123.7 3901 - Polymers Of Ethylene, In Primary Forms 0.8 2.7 n.a.

0901 - Coffee, Whether Or Not Roasted Or Decaffeinated; Coffee Husks And Skins; Coffee Substitutes Containing Coffee In Any Proportion

0.7 3.8 35.38443 - Printing Machinery Used For Printing By Means Of Plates, Cylinders And Other Printing Components Of Heading 8442

0.7 2.6 86.6

1509 - Olive Oil And Its Fractions Obtained From The Fruit Of The Olive Tree

0.7 3.7 n.a. 2710 - Petroleum Oils And Oils Obtained From Bituminous Minerals (Excl. Crude)

0.6 2.0 n.a.

3808 - Insecticides, Rodenticides, Fungicides, Herbicides, Anti-Sprouting Products And Plant-Growth Regulators

0.4 1.9 17.0 8471 - Automatic Data-Processing Machines And Units Thereof; Magnetic Or Optical Readers

0.5 1.8 n.a.

Top 10 Portuguese imports from Peru, 2013 Top 10 Portuguese exports to Peru, 2013

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4011 - New Pneumatic Tyres, Of Rubber

3004 - Medicaments

8474 - Machinery For Screening, Washing, Crushing or Mixing Mineral Substances

7308 - Bridges & Bridge-Sections, Lock-Gates, Towers, Lattice Masts, Roofing, Doors &

8418 - Refrigerators, Freezers And Other Refrigerating Or Freezing Equipment

7207 - Semi-Finished Products Of Iron Or Non-Alloy Steel

8502 - Electric Generating Sets And Rotary Converters

3808 - Insecticides, Rodenticides, Fungicides, Herbicides, Anti-Sprouting Products

8536 - Electrical Apparatus For Switching Or Protecting Electrical Circuits

6402 - Footwear With Outer Soles And Uppers Of Rubber Or Plastics

Goods export opportunities (I)

Set of products (merchandise) identified as needs (imports) of Peru for which Portugal has production and export capacity, thus representing opportunities to increase the volume of Portuguese exports to Peru.

Top 10 export opportunities to Peru

Sources: UN Comtrade, DESA/UNSD, OECD, NB.

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Goods export opportunities (II)

Sources: UN Comtrade, DESA/UNSD, OECD, NB.

Products (H.S. 4) 2013(EUR Million) Rank 2013 Share 2013

(%)Annual growth2012-2013 (%)

CAGR10-13

(%)

4011 - New Pneumatic Tyres, Of Rubber 387.3 12 1.2 31.9 21.7

3004 - Medicaments 361.6 13 1.1 56.1 8.8

8474 - Machinery For Screening, Washing, Crushing or Mixing Mineral Substances 279.6 19 0.9 47.3 23.1

7308 - Bridges & Bridge-Sections, Lock-Gates, Towers, Lattice Masts, Roofing, Doors & Windows 202.0 24 0.6 31.7 23.5

8418 - Refrigerators, Freezers And Other Refrigerating Or Freezing Equipment 192.4 26 0.6 53.0 11.0

7207 - Semi-Finished Products Of Iron Or Non-Alloy Steel 158.0 35 0.5 52.4 28.4

8502 - Electric Generating Sets And Rotary Converters 135.8 40 0.4 106.4 11.8

3808 - Insecticides, Rodenticides, Fungicides, Herbicides, Anti-Sprouting Products 132.0 42 0.4 37.3 10.9

8536 - Electrical Apparatus For Switching Or Protecting Electrical Circuits 124.3 45 0.4 44.7 13.5

6402 - Footwear With Outer Soles And Uppers Of Rubber Or Plastics 110.8 53 0.3 31.6 17.7

Top 10 export opportunities to Peru(Amount and rank of Peru’s world imports)

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Goods export opportunities (III)

Sources: UN Comtrade, DESA/UNSD, OECD, NB.

Machinery and appliances Agricultural and food Clothing and Footwear

8426 - Ships' Derricks; Cranes, Incl. Cable Cranes 1604 - Prepared Or Preserved Fish; Caviar And Caviar Subst. Prepared From Fish Eggs

5205 - Cotton Yarn Other Than Sewing Thread, Containing >= 85% Cotton By Weight

8429 - Self-Propelled Bulldozers, Angledozers, Graders, Levellers, Scrapers

1704 - Sugar Confectionery Not Containing Cocoa, Incl. White Chocolate

6403 - Footwear With Outer Soles Of Rubber, Plastics, Leather And Uppers Of Leather

8481 - Taps, Cocks, Valves And Similar Appliances For Pipes, Boiler Shells, Tanks, Vats

1904 - Prepared Foods Obtained By The Swelling Or Roasting Of Cereals Or Cereal Products

5911 - Textile Products And Articles, For Technical Use

8544 - Insulated Wire, Cable "Incl. Coaxial Cable"; Optical Fibre Cables

1517 - Margarine, Other Edible Mixtures Or Preparations Of Animal Or Vegetable Fats Or Oils

5603 - Nonwovens, Whether Or Not Impregnated, Coated, Covered Or Laminated

8409 - Parts Suitable For Use With Internal Combustion Piston Engine

1901 - Malt Extract; Food Preparations Of Flour, Groats, Meal, Starch Or Malt Extract

6110 - Jerseys, Pullovers, Cardigans, Waistcoats And Similar Articles, Knitted Or Crocheted

Common Metals Wood, Cork, Cellulose Pulp and Paper Plastic, Rubber Products

7204 - Ferrous Waste And Scrap; Remelting Scrap Ingots Of Iron Or Steel

4811 - Paper, Paperboard, Cellulose Wadding And Webs Of Cellulose Fibres, Coated

3923 - Articles For The Conveyance Or Packaging, Of Plastics; Stoppers, Lids, And Caps

8309 - Stoppers, Caps And Lids, Incl. Crown Corks, Screw Caps And Pouring Stoppers

4410 - Particle Board, Oriented Strand Board "Osb" And Similar Board "E.G. Waferboard"

3924 - Tableware, Kitchenware, Other Household Articles And Toilet Articles, Of Plastics

7604 - Bars, Rods And Profiles, Of Aluminium 4802 - Uncoated Paper And Paperboard, Of A Kind Used For Writing, Printing

4016 - Articles Of Vulcanised Rubber (Excl. Hard Rubber)

7306 - Tubes, Pipes And Hollow Profiles "E.G., Open Seam Or Welded

4901 - Printed Books, Brochures And Similar Printed Matter, Whether Or Not In Single Sheets

3920 - Plates, Sheets, Film, Foil And Strip, Of Non-Cellular Plastics, Not Reinforced, Lamin

7213 - Bars And Rods Of Iron Or Non-Alloy Steel, Hot-Rolled, In Irregularly Wound Coils

4804 - Uncoated Kraft Paper And Paperboard 3904 - Polymers Of Vinyl Chloride Or Of Other Halogenated Olefins, In Primary Forms

Cloud of Export Opportunities to Peru

The Country's Economic Context

Industry Structure

International Trade, Bilateral Trade with Portugal and Opportunities

Novo Banco Internationalisation Support

Contacts

ISKO Peru

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At Novo Banco we support your internationalisation through the International Premium Unit.

This Unit is composed of an experienced team of relationship managers, organizedby Geographical Desks.

Geographical desksgeográficos

5Africa

Latin America

Developed Markets & China

North Africa & Turkey

Eastern Europe, Ásia & Middle East

Knowledge of how to do business in the main

markets;

Relationship with local players;

Knowledge of national development

programmes;

Participation in fairs and entrepreneurial

missions in the local markets.

Novo Banco Internationalisation Support (I)

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Fine Trade: identification of potential markets.1. Knowledge

Identification of local counterparts throughthe Group’s network of Banks, partner Banks; Diplomatica Network or International Chambersof Commerce;

Client Referrals;

Organization of Entrepeneurial Missions.

2. Business Development

3. Foreign Trade

4. Investment Structuring, implementation and monitoring of

operations with local correspondents.

Funding for investment with DevelopmentBanks and Multilateral entities.

We are present with solutions in all the phases of the process:

Novo Banco Internationalisation Support (II)

A team with recognized experience to supportyour foreign trade operations.

In 2014, 28% of Trade Finance transactionspassed through Novo Banco*.

* Trade Finance Market Share as of December 2014.

The Country's Economic Context

Industry Structure

International Trade, Bilateral Trade with Portugal and Opportunities

Novo Banco Internationalisation Support

Contacts

ISKO Peru

26ISKO Peru

International Premium Unit

Head Marta Mariz marta.mariz@novobanco.pt

Desk Latin America Pedro SilvaInternational Business pedro.silva@novobanco.pt

27ISKO Peru

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The prices of any financial instruments described in this document are indicative prices only and do not constitute firm bids or offers. NOVO BANCO or its affiliates may choose to make a market for any such financial instruments, but neither NOVO BANCO nor any of its affiliates has an obligation to do so. Any such market-making activities may be discontinued at any time without notice. Certain information contained in this document has been derived from public sources that NOVO BANCO deems to be reliable. Neither NOVO BANCO nor any of its affiliates, however, have independently verified such publicly available information nor do they take responsibility for its accuracy or completeness.Any U.S. person receiving this document and wishing to effect transactions in any financial instruments discussed herein should do so, if applicable, through NOVO BANCO and not through any non-U.S. affiliate of NOVO BANCO.

The enclosed document does not constitute any kind of research report or any kind of offer to sell any of the financial instruments discussed herein, nor is it soliciting an offer to buy such financial instruments. The financial instruments issued by Companies that may be discussed herein may be subject to restrictions with regard to certain persons or in certain countries under national regulations applicable to said persons or in said countries. It is each investor’s responsibility to ensure that it is authorized to invest in those securities.The financial instruments discussed in this material may not be suitable for all investors. Investors should make their own assessment of the risks from a legal, tax and accounting perspective prior to investing in such products. Past performance is no guarantee to future performance.This document is being distributed to, and is intended solely for the use of, institutional investors. Notwithstanding the generality of the preceding sentence, this document is intended solely for the use of the institutional investor to which it has been sent by NOVO BANCO and such recipient’s agents, employees, advisors and representatives. If you have received this document in error, you are urged to destroy it or return it immediately to NOVO BANCO.

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