1. DnB NOR – Latin American set up International Corporates and Institutions – Project and Trade Finance Latin America, Africa and Middle East desk

2. 2 DnB NOR Bank – International Corporates and Institutions Agenda: I.Who are we? II.How can we contribute? III. Latin American competence IV.Solutions & Experience

3. 3 DnB NOR Bank – International Corporates and Institutions Who are we? Intl. Financial Institutions Products/responsibilityArea Project & Trade Finance Risk Analyses Group Relationship managers for international financial institutions and insurance companies within OECD Serving clients of other banks Multi-sourcing, (structured financing solutions involving external financing, TF instruments and country-risk expertise.) Trade Finance Relationship manager for banks outside the OECD area Responsibility for countries in emerging markets Analysis of banks and country for credit purposes

4. 4 DnB NOR Bank – International Corporates and Institutions DnB NOR – International Presence DnB NOR offers reliability, long-term commitment

5. 5 DnB NOR Bank – International Corporates and Institutions Agenda: I.Who are we? II.How can we contribute? III. Latin American competence IV.Solutions & Experience

6. 6 DnB NOR Bank – International Corporates and Institutions How can we contribute? Geographical specialisation, dedicated specialists covering emerging markets –Asia, Central and Eastern Europe –Latin America, Africa and Middle East Extensive network in local markets –Banks –Lawyers –Consultants –Governmental institutions –Local business environment

7. 7 DnB NOR Bank – International Corporates and Institutions How can we contribute? Trade Finance and guarantees Multi-sourcing: structured financial solutions using external hedging and funding sources –Multilaterals and regional development banks –ECAs –Credit insurance –Local banks Advisory services to customers and account officers –Providing advice on political risk and financial services to clients who trade with or operate in these areas –Issuing regional market updates on regular basis –Cash management

8. 8 DnB NOR Bank – International Corporates and Institutions Agenda: I.Who are we? II.How can we contribute? III. Latin American competence IV.Solutions & Experience

9. 9 DnB NOR Bank – International Corporates and Institutions Latin American competence Latin American team Several skilled associates in Norway covering the regions A representative office in Rio de Janeiro, Brazil covering Brazil. Since 1970 In September 08 DnB NOR opened a branch in Santiago, Chile Market advising Experience and an extensive network Language and cultural knowledge Watch the markets closely, distribute bi-monthly market reports and frequently arrange seminars Products Administrative handling, financing, risk management, currency services and cash management.

10. 10 DnB NOR Bank – International Corporates and Institutions Agenda: I.Who are we? II.How can we contribute? III. Latin American competence IV.Solutions & Experience

11. 11 DnB NOR Bank – International Corporates and Institutions Good financial incentives in Brazil - Merchant Marine Fund Created in 1958. Purpose: to finance the yard & shipping industry. Funding source: tax on freight charged on imports (lately also directly from Ministry of finance) FMM is part of the Ministry of Transportation Three agents for the fund: BNDES, Banco do Brasil Banco do Nordoeste

12. 12 DnB NOR Bank – International Corporates and Institutions Good financial incentives in Brazil FMM - regulations Currency:USD (linked) Interest rate:2,5%-5% p.a. dependent on rating/guarantee structure (Depends on local content) Disbursement/Grace:Up to 48 months Tenor:Up to 20 years Participation:Up to 90% of project funding Disbursement:Monthly, according to financial and construction schedule Security:Mortgage Bank SBLC/corporate guarantees Charter contracts

13. 13 DnB NOR Bank – International Corporates and Institutions Good financial incentives in Brazil Typical structure of transactions with DnB NOR 90 % financing Tenor 14 – 17 years Interest rate 3 % fixed + DnB NOR margin Security – Stand By Letter of Credit(SBLC) from DnB NOR with 4-5 years tenor SBLC covering approx 110% of the loan(loan + 6 months interest + penalties etc) Timing – 6 months from application until disbursement with FMM/BNDES, but dependent on board meeting in FMM

14. 14 DnB NOR Bank – International Corporates and Institutions Good financial incentives in Brazil DnB NOR experience Long term financing of 11 vessels together with BNDES/Banco do Brasil Total exposure with BNDES approx USD 500 mill DnB NOR largest international partner bank with BNDES

15. 15 DnB NOR Bank – International Corporates and Institutions Trade Finance All Trade Finance instruments Bid bonds Performance bonds Letters of Credit Cash against documents Discounting of drafts

16. 16 DnB NOR Bank – International Corporates and Institutions Relationship with Petrobras Approved issuer of guarantees/SBLCs Relationship between Rep. Office & Petrobras Petrobras renewing focus on ECA financing Good potential from Norway Approved by ANP

17. 17 DnB NOR Bank – International Corporates and Institutions Export Credit Agencies (ECAs) Based on an OECD agreement The countries offer their respective export industries similar financing terms Fixed interest rates determined by the OECD – the so-called CIRR In general all countries have the same main principles with regards to; Loan amount (up to 85% for capital goods and 80% for ships) Tenor: minimum 2 years Repayment in semi-annual, equal installments In Norway, the systems is based upon two institutions GIEK, state owned and offering guarantees, and Eksportfinans, owned by banks (85%) and state (15%), offering CIRR funding Normally 50% of the contract value should be Norwegian content EXPORT CREDITS

18. 18 DnB NOR Bank – International Corporates and Institutions The structure 100% Contract value Capital goods: 85 % Ships: 80% CIRR loan from Eksportfinans Up to 95% (of loan) guaranteed by GIEK 15% / 20% prepayment Maximum financing is 85%/80% of the contract value, while GIEK can cover up to 95% of the commercial and political risk of the loan. The additional part (5% or more), can be covered by an other financial institution such as DnB NOR. 5% guaranteed by DnB NOR Contract content EXPORT CREDITS

19. 19 DnB NOR Bank – International Corporates and Institutions What else have we done in Latin America- some examples Chile – Financing of hydro electric power plant together with IFC Peru – Financing and syndication of loan together with GIEK for Norwegian owned fishing company Nicaragua – Securing delivery of wind mills in cooperation with Cabei – regional development bank Uruguay – In cooperation with Finnvera and IFC, financing of pulp & paper plant Brazil – Financing of Norwegian equipment to shipyards together with GIEK Panama – Financing of terminal together with IFC and local banks

20. 20 DnB NOR Bank – International Corporates and Institutions Latin America, Africa and Middle East Arne-Christian Haukeland E-mail: arne.haukeland@dnbnor.no Tel: + 47 55 21 19 53 Karen Kosberg E-mail: karen.kosberg@dnbnor.no Tel: + 47 22944659 Kjetil Høydal E-mail: kjetil.hoydal@dnbnor.no Tel: + 47 22481534 Lars Kvamme E-mail: lars.kvamme@dnbnor.no Tel: + 47 55 21 18 11 Tom Ringseth (Brazil) E-mail: tom.ringseth@dnbnor.com.br Tel: + 55 21 22 85 17 95