1. German Brazilian Economic Meeting
Kick off presentation Panel II: Value Chains Oil & Gas

2. Contents 1 Global Oil & Gas Industry: Proven Oil Reserves Page 3 2
Huge investments ahead until 2020 4
Brazilian local content requirements 5
Financing the Value Chain of the Oil & Gas Industry 6
Commerzbank AG: Your partner in Brazil
7 - 8

3. Global gas & oil industry: Proven Oil Reserves Brazil is trading up
(in bn barrels)
New deep sea wells
bn. barrels
Venezuela
Saudi Arabia
Canada
Iran
Iraque
Kuwait
UAE
Russia
Brazil
Sources: BP, GTAI

4. Other required equipment
Huge investments ahead until 2020
Investments in equipment and services, expansion and maintance
Federal Government estimates US$ 400 billion until 2020
Petrobras Investment Plan 2013 – 2017 with US$ (thereof US$ into exploration and production)
Other required equipment *) *) *) *)
**)
Special Alloy Pipes
High-pressure products
Gas turbines
Offshore cranes
etc.
Sources: *) PWC The Brazilian Oil & Gas Industry **) Competition Study of brazilian supply industry, Prominp/UFRJ

5. Brazilian Local Content Requirements
Fostering the development of a strong and sustainable local supply chain
Local Content policy since 1999
Establishing minimum and maximum percentages in investments in Brazil
Increase of GDP contribution by the Oil & Gas Industry
Materials Equipment
Systems + Subsystems Services
Training of local human resource
Generation of jobs & income
Growth of national industry
Technology development
Sources: PWC The Brazilian Oil & Gas Industry

6. Financing the Value Chain of the Oil & Gas Industry
International Borrowing Base
Warehouse Finance
Transactional Trade Finance
Corporate Finance Solutions (incl. W/C Finance, Forfaiting, Purchase of Covered Receivables etc.
Transport & Storage
Sales & Marketing
Energy Trade
Exploration
Production
Refining
Service
Equity (VC, PE)
Reserve Based Lending
Project Finance incl. ECA Coverage
ECA Covered Buyers Credits
Pre Export Finance
etc.
Derivative Instruments Hedging of Physical Flows (Future, Options,etc.)

7. Commerzbank AG The Market Leader for the Mittelstand in Germany
More than 100,000 small- and medium-sized enterprises rely on us
Focus on real economy and strict customer orientation
Holistic advisory concept of Mittelstandsbank is geared towards our over 100,000 corporate customers in Germany and worldwide
We are responsible for the financing of over 30 per cent of Germany's foreign trade. We are the market leader in matters of financing business and corporates*
In matters of our major customers we have a customer coverage of 90 per cent
We strive to be the first point of contact for foreign companies regarding their activities involving Germany
We serve our SME customers in around 150 locations in Germany as well as in 70 locations in over 50 countries
H1 2014
Revenues before LLP (in € m)
1,455
Operating profit (in € m)
604
Our goal: Leading bank for corporate clients at the heart of Europe
* Based on the letters of credit opened abroad for the benefit of German export companies in 2013

8. Commerzbank AG Your partner in Brazil
Commerzbank is represented in all major financial centres worldwide
Outside Germany, the Bank
is represented through
operational foreign branches
representative offices
major subsidiaries abroad and
5,000 correspondent banks
in more than 50 countries on all continents
Brazil today: Rep. Office & Importers Originator
Brazil 2015: New subsidiary in Sao Paulo

9. Stefan Böhlich Global Head Structured Export & Trade Finance
Phone: +49 (0)69 /
Headquarter:
Kaiserstrasse 16
Frankfurt am Main
Postal address:
60261 Frankfurt am Main
Germany

10. Disclaimer
This presentation contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include, inter alia, statements about Commerzbank’s beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates, projections and targets as they are currently available to the management of Commerzbank. Forward-looking statements therefore speak only as of the date they are made, and Commerzbank undertakes no obligation to update publicly any of them in light of new information or future events. By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include, among others, the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which Commerzbank derives a substantial portion of its revenues and in which it hold a substantial portion of its assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of its strategic initiatives and the reliability of its risk management policies.
In addition, this presentation contains financial and other information which has been derived from publicly available information disclosed by persons other than Commerzbank (“external data”). In particular, external data has been derived from industry and customer-related data and other calculations taken or derived from industry reports published by third parties, market research reports and commercial publications. Commercial publications generally state that the information they contain has originated from sources assumed to be reliable, but that the accuracy and completeness of such information is not guaranteed and that the calculations contained therein are based on a series of assumptions. The external data has not been independently verified by Commerzbank. Therefore, Commerzbank cannot assume any responsibility for the accuracy of the external data taken or derived from public sources.