1

Institutional Presentation 2016

2

III. 2016

IV. GROWTH OPPORTUNITIES

I. GENERAL OVERVIEW

II. BUSINESS ENVIRONMENT

3

Cetip is Latin America’s largest depositary of private fixed income securities and Brazil’s largest private asset

clearinghouse. In addition, Cetip is the leading company in providing electronic delivery solutions of information

required for the registration of vehicle financing contracts and restrictions by transit bodies.

Leading position in its two business units:

- Securities Unit: Brazil’s leader in the registration, custody, trading

and settlement of private fixed income securities and OTC

derivatives, acting as a unique and integrated solution for those

markets. It also has an electronic trading platform for the

secondary public and private security market . Further, it carries

out the processing of interbank transfers (DOCs) and settlement of

electronic funds transfers (EFTs) and bank payment slips

- Financing Unit: Offering an integrated private electronic system

for the entry, by financial agents, of financial restrictions related to

vehicle financing transactions, covering all of such registrations in

Brazil, and the custody of such information. It develops products

and services that guide the main stages linked to the vehicle

financing cycle. These products and services speed up credit

analysis and approval, making access to financing easier, faster

and safer

Business model with high predictability of revenues and costs,

and low capex needs

Over 15 thousand clients use Cetip‘s services, among them financial

institutions, investment funds, pension funds, brokerage firms,

consortia, leasing and insurance companies

Listed on Novo Mercado since its IPO in 2009

ICE 5 Board and

Management Others

R$ million 2011 2012 2013 2014 2015 2016 CAGR

11-16

Gross Revenue 844 916 1,074 1,223 1,363 1,546 12.9%

Securities Unit 495 585 690 787 950 1,122 17.8%

Financing Unit 349 330 384 436 413 424 4.0%

Adjusted EBITDA¹ 547 575 652 715 790 912 10.8%

EBITDA Margin 73.7% 72.9% 71.8% 70.4% 70.2% 70.9%

Adjusted Net Income² 371 423 504 563 625 639 11.5%

Net Margin 50.0% 53.6% 55.4% 55.4% 55.5% 49.6%

Net Debt 930 601 230 124 201 (102) (164%)

Net Debt / EBITDA 3 1.7x 1.0x 0.4x 0.2x 0.3x -0.1x

12.1% 0.2% 87.7%

Notes: (1) Adjusted EBITDA excludes share-based incentives and equity in the results of associate; (2) Adjusted Net Income excludes share-based incentive

without cash disbursement, amortization of intangible assets from the acquisition of GRV and the tax benefit from the goodwill amortization; (3) Calculated based

on the EBITDA of the last 12 months; (4) Position on December 29, 2016 (percentages exclude treasury shares); and (5) Intercontinental Exchange.

Highlights

Cetip Overview

Main Financial Indicators

Shareholder Structure 4

4

Clients

• Integrating Brazilian financial market, Cetip is Latin America´s largest depository of private fixed

income securities and Brazil´s largest private asset clearing house;

• Complete solution for financial instruments, from the analysis of potential issuances, registration

and custody until trading, settlement, risk management and market data;

• Leading company in providing electronic delivery solutions of information required for the

registration of contracts and financial restrictions by transit bodies.

• Financial Institutions;

• Mutual Funds;

• Pension Funds;

• Insurers and Consortia;

• Corporations;

• Brokerage Houses and Broker Dealers;

• Leasing Companies;

• Securitization Companies.

Cetip Overview

International Peers

5

Cetip’s Timeline

1

9

8

4

Cetip is established as a

not-for-profit organization

2013

- Amendment of the

company’s bylaws,

seeking to improve

Cetip’s corporate

governance

- Launching, in partnership

with FNC, of the real

estate appraisal platform

2011

- Cetip’s brand

repositioning

- ICE becomes a

shareholder with 12%

stake

- Advent is no longer a

shareholder

2009

- Advent becomes a

shareholder with a 32%

stake

- IPO and listing at Novo

Mercado of BMF

Bovespa

1994

Beginning of OTC

Derivatives

registration

1986

Cetip starts its

operations

1988

Agreement with Anbima to

operate SND (National

System of Debentures)

2008

Demutualization

process: creation of

Cetip S.A.

2010

Acquisition of GRV

Solutions, which today

represents the Financing

Unit of Cetip. The

acquisition was financed

by the company’s first

issuance of debentures

2012

Cetip’s shares are

included in the

IBOVESPA and IBrX-50

indexes

2015

Cetip Trader becomes

Bacen’s dealer splatform

(Brazilian Central Bank)

2016

- Board of Directors and

shareholders of Cetip and

BM&FBovespa approve

the terms for the merger

of both companies

(transaction awaiting

regulatory approvals)

6

IPO (Oct/2009)

Other

55.6%

Board

0.6% Santander

2.8%

Bradesco

4.4%

Itaú

Unibanco

10.1%

Advent

18.1% FEMCO

8.4%

Foreign

Investors

59.3%

Local

Investors

38.0%

Individuals

2.7%

ICE

12.1%

Board +

Management

0.2%

Others

87.7%

Current (Dec/2016) (1)

Shareholder Structure

Note: (1) Excludes treasury shares.

7

0

50

100

150

200

250

300

350

400

450

0

50

100

150

200

250

300

350

400

450

500

Volume (R$ million) CETIP3 Ibovespa

CTIP3 vs. Ibovespa since IPO as of 12/29/2016 (Base 100 – 10/27/2009)

(R$ million) (12 months rolling average) (12 months rolling average)

Source: Bloomberg

Volume R$ (million) Base 100

CTIP3 - Average Daily Traded Volume CTIP3 – Average Daily Number of Trades

+328.7%

-5.4%

CTIP3 Performance

CTIP3 LTM (Dec/2015 to Dec/2016)

+24.1% CTIP3

+38.9% Ibovespa

-

20

40

60

80

Mar

-11

Jun

-11

Sep

-11

De

c-1

1M

ar-1

2Ju

n-1

2Se

p-1

2D

ec-

12

Mar

-13

Jun

-13

Sep

-13

De

c-1

3M

ar-1

4Ju

n-1

4Se

p-1

4D

ec-

14

Mar

-15

Jun

-15

Sep

-15

De

c-1

5M

ar-1

6Ju

n-1

6Se

p-1

6D

ec-

16

-

500

1,000

1,500

2,000

2,500

Mar

-11

Jun

-11

Sep

-11

De

c-1

1M

ar-1

2Ju

n-1

2Se

p-1

2D

ec-

12

Mar

-13

Jun

-13

Sep

-13

De

c-1

3M

ar-1

4Ju

n-1

4Se

p-1

4D

ec-

14

Mar

-15

Jun

-15

Sep

-15

De

c-1

5M

ar-1

6Ju

n-1

6Se

p-1

6D

ec-

16

8

Cetip’s Investment Thesis

High exposure to growth in fixed income and

credit markets

Resilient, diversified and vertically integrated

business model

Strong cash generation with low execution

risk and high predictability

Asset light

Dividend yield growth

9

2016 Gross Revenue:

R$ 1,545.9 million

Securities Unit

Types of Revenue:

Financing Unit:

Contracts

System

(Sircof)

41.9%

Other

0.5 %

Other

41.0%

Revenues

that depend

on Stock

59.0%

Short term economical instability

has little impact on revenues that

depend on stock

Market Data and

Development of

Solutions

18.6%

Business Units with No Correlated Risks

Other

8.6%

Transactions

15.2%

Monthly

Utilization

20.2% CSD and Trade

Repository

Maintenance Fee

45.8%

Registration

10.1%

Diversified Revenue Profile

Revenue diversification by business unit and types of revenue

SNG

38.9%

72.6% 27.4%

10

Notes: (1) Before tax expenses; (2) Excludes expenses with option program; (2) D&A – Depreciation and Amortization.

Strong Cash Generation, with Low Execution Risk and High Predictability

Predictable Cost Structure Low Investments Needs

Operating Cash

Generation1 (R$ million):

% Net Revenue

Cost Structure with High

Predictability (2016)

CAPEX

(R$ million)

Adjusted Operating Expenses2

(ex-D&A3) (R$ million)

% Net Revenue Personnel

59.8%

Outsourced

Services

26.4%

G&A

11.5%

Other

2.2%

% Net Revenue

+ High Operating Cash Generation +

26.6

43.5

56.6 60.0

89.4

97.9

3.6%

5.5%

6.2% 5.9%

7.9%

7.6%

2011 2012 2013 2014 2015 2016

545.2 629.9

701.2 754.2

952.4

1,081.7

73.5% 79.6% 77.2%

74.2%

84.6% 84.1%

2011 2012 2013 2014 2015 2016

195,0 214.1 256.4 300.7 335.2 374.6

26.3% 27.1% 28.2% 29.6% 29.8% 29.1%

2011 2012 2013 2014 2015 2016

11

• Registration of fixed income

securities and OTC

derivatives

• Central depository of fixed

income instruments

• Central depository of

OTC derivatives

• Collateral management in

bilateral transactions

• Mark to Market

• Registration of all

operations performed

• Trading platform for

fixed income securities

Registration

and

Maintenance

Settlement

Negotiation

Collateral

Management

• DVP Settlement

(deliver versus payment)

• Settlement processing

Unique and Integrated Solution for the Fixed Income and OTC Derivatives Markets

Business Model: Securities Unit

12

2

Financial Institution

1

Consumer Requests loan for vehicle financing

4

Financial Institution

Signs loan contract and provides credit

3

SNG query to check if there are any restrictions

on the vehicle and insertion of pre-lien

6

The transit and vehicle authority registers the finance contract

7

Issuance of the vehicle registration document

(CRV) with lien after SNG query

Transit and vehicle authority verifies the pre-lien database to

ensure the correct issuance of CRVs with liens, avoiding frauds

Contracts System Transmits contract

information to be registered by the transit and vehicle

authority

5

Transit

and

Vehicle

Authority

Private Environment Public Environment

Business Model: Financing Unit

13

Market Share (2016) – 73.6%

Business Model: Contracts System

Transmission of information for vehicle financing contracts registration

AM

AC RO

RR AP

PA

MT

TO

MA CE

BA

GO

DF

MG

ES

RJ

MS

SP

PR

SC

RS

RN

PB PE

SE

PI

AL

71.8%

72.2%

72.8% 73.0%

72.3%

73.2%

73.9% 73.7%

74.8%

75.3% 75.4%

74.5%

Market-share Evolution

14

More Solid Regulatory Environment for the Financing Unit

• Financings in general: Resolution No 4.088/2012, as amended by Resolution No 4.399/2015

• Vehicle Financings: Circular Letter No 3.616/2012, as amended by Circular Letter No 3.585/2013, as amended by Circular Letter No 3.596/2013 (effective since April 2013)

• Real Estate Financings: Circular Letter No 3.747/2015, as amended by Circular Letter No 3.767/2015, as amended by Circular Letter No 3.730/2015 (effective as of March 2017, as determined by Circular Letter No 3.793/2016)

• Cetip registers credit operations related to vehicles given as collateral

(Brazilian Central Bank)

National Transit Authority

• Letter No 67/2011

• Resolution No 470/2013

• Ordinance No 18/2014, as amended by Ordinance No 15/2016, as amended by Ordinance No 135/2016

• Cetip has been accredited by DENATRAN to have access to its database for 5 years and has recently requested renewal of accreditation

15

III. 2016

IV. GROWTH OPPORTUNITIES

I. GENERAL OVERVIEW

II. BUSINESS ENVIRONMENT

16

30.7%

15.1%

20.6% 18.8%

16.4% 14.7%

11.3%

6.7%

-3.5%

2008 2009 2010 2011 2012 2013 2014 2015 2016

Credit Growth

1,234

1,421

1,713

2,034

2,368

2,711

3,018 3,219

3,107

35.1%

40.5%

45.4%

49.1%

53.7% 52.6% 53.1%

54.5%

49.3%

0.0 %

10. 0%

20. 0%

30. 0%

40. 0%

50. 0%

60. 0%

-

500

1,00 0

1,50 0

2,00 0

2,50 0

3,00 0

3,50 0

4,00 0

2008 2009 2010 2011 2012 2013 2014 2015 2016

Volume (R$ billion) % GDP

CAGR 08-16: 12.2%

Credit Expansion in Brazil

Source: Brazilian Central Bank

Credit Market is Still Expanding, but at a Lower Pace

1

Note: (1) Credit growth compares Dec/16 vs. Dec/15

17

Vehicles Financing - Challenging Environment in 2016

3,489 3,268 3,937 3,870 3,590 3,517 3,160 2,339 1,740

4,461 3,541

3,920 3,815 3,359 3,241 3,233

2,973 2,914

2008 2009 2010 2011 2012 2013 2014 2015 2016

New Vehicles Used Vehicles

(thousands)

Source: Fenabrave

-12.4%

Vehicle Acquisition Loans – In the Period

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Personal Loans Corporate Loans

(R$ billion)

91 92 105

154

198 216 213

203 CAGR 07-16: 6.3%

178

89.6% 89.5% 89.7% 90.9% 89.7% 89.6% 89.9% 90.7% 90.7%

10.4% 10.5% 10.3%

9.1%

10.3% 10.4% 10.1%

9.3%

9.3%

Vehicle Acquisition Loans – Total Outstanding

Source: SNG / Fenabrave

72.0% 67.5%

72.3% 67.3% 63.6% 64.2% 61.4% 58.3% 54.8%

47.2% 38.1% 35.5% 32.7%

28.3% 25.9% 24.2% 22.3% 21.8%

55.6% 48.2% 47.6% 44.1% 39.7% 37.6% 34.5% 30.6% 28.2%

2008 2009 2010 2011 2012 2013 2014 2015 2016

% New Vehicles Financed / New Vehicles Sold

% Used Vehicles Financed / Used Vehicles Sold

% Total Vehicles Financed/Total Vehicles Sold

% Credit Penetration: Vehicles Financing/ Vehicle Sales

Source: Fenabrave

Source: Brazilian Central Bank

Individuals Delinquency Ratio – Vehicle Financing

3.7%

5.2%

6.7%

7.1%

6.3% 5.7%

5.0%

4.4%

3.9% 4.2% 4.5%

4,6%

4.7%

Individuals Delinquency

Avg Individuals Delinquency(Mar/11 - Dec/16)

90.6%

9.4%

158

5.2%

1

Note: (1) As of Dec/16.

7,950

6,809

7,857 7,685 6,949 6,758 6,393

5,312 4,654

18

Real Estate Financing - Significant Room for Growth

44 60

84

131

189

255

341

432

500 534

1.6%

2.0%

2.6%

3.5%

4.6%

5.8%

7.0%

7.8%

8.4% 8.5%

0.0 %

1.0 %

2.0 %

3.0 %

4.0 %

5.0 %

6.0 %

7.0 %

8.0 %

9.0 %

0

100

200

300

400

500

600

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Personal Mortgages % GDP

CAGR 07-16: 32.0%

Source: Brazilian Central Bank

Mortgages for Individuals – Total Outstanding

(R$ billion)

19

**

*Bank Deposit certificate

** Interbank Deposit

Expansion of Stocks of the Main Fixed Income and OTC Derivatives Assets

2010 2011 2012 2013 2014 2015 2016

Other Derivatives/Structured Notes Currency Forward Contracts Swaps

427

584

(R$ billion)

848

1,034 1,114

2010 2011 2012 2013 2014 2015 2016

Investment Funds Debentures CDB DI Other Letra Financeira

2,828 3,182

3,454

3,769

(R$ billion)

4,137

4,433

29% 29% 33% 33% 34% 36% 12%

12%

15% 16%

16%

17%

30% 23%

19% 16%

13% 11%

21% 23%

18% 17%

15% 11%

7%

8% 8%

11%

14% 15%

1% 5%

7%

8%

8%

9%

70% 69%

74% 70% 58% 46% 22%

25%

21%

22% 29%

22%

32%

12% 8%

5%

6%

8%

2,047

Fixed Income Volume Stock1 OTC Derivatives Volume Stock

CAGR 10-16: 9.9% CAGR 10-16: 25.8%

*

Source: Cetip 1 Fixed income stock includes Structured Notes

4,996

40%

16%

11%

11%

14%

8%

46%

17%

37%

1,693

20

Slower Pace in the Debentures’ Market So Far

11,324 7,290

23,810

41,943 35,212

64,949 70,154 74,594

62,040 62,111

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Volume of Issuance (R$ billion)

*

70

29

73

150 171

291 283 298

200

138

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Number of Issuance

1 7

39

85 92

139

155 154

84 72

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Number of New Issuers

Source: Cetip

* non-leasing debentures

21

IV. GROWTH OPPORTUNITIES

I. GENERAL OVERVIEW

II. BUSINESS ENVIRONMENT

III. 2016

22

R$ million

Gross Revenue 398.9 1,545.9

Securities Unit 285.1 1,122.4

Financing Unit 113.8 423.5

Net Revenue 334.8 1,286.8

Adjusted EBITDA 235.6 912.3

Adjusted EBITDA Margin 70.4% 70.9%

Adjusted Net Income (cash earnings): 167.1

638.7

Adjusted Net Margin 49.9% 49.6%

Financial Highlights

4Q16 X 4Q15 2016 X 2015

12.2%

13.5%

14.3%

15.3%

-4.5 p.p.

13.4%

18.1%

14.3%

15.4%

0.7 p.p.

-5.9 p.p.

9.2%

0.6 p.p.

4.9% 2.3%

2.7%

23

39.8 43.1 45.1

150.2 171.0

1,496 1,484 1,610

1,256

1,485

4Q15 3Q16 4Q16 2015 2016

Transaction Revenues Transactions/ Working day

2.2 2.0

2.0

8.2 7.8

2.4 1.6

2.3

9.8

9.0

4Q15 3Q16 4Q16 2015 2016

Volume Renda Fixa Volume Derivativos/ COE

3.2 3.7 3.8 3.0 3.6

2.8 2.4 2.3 2.3

2.4

4Q15 3Q16 4Q16 2015 2016

Receita Renda Fixa Receita Derativos/ COE

Volume Renda Fixa Volume Derativos/ COE

Other 8.6%

Securities Unit Gross Revenue Evolution

Gross Revenue - Securities Unit

Registration Revenues 1

CSD and Trade Repository Maintenance Fee Revenues 2

Transactions Revenue

Securities Unit Revenue Breakdown in 4Q16

Notes: 1. Registration: OTC Derivatives revenues include Other Registration Services revenues 2. CSD and Trade Repository Maintenance Fee Revenues: OTC Derivatives revenues include End Users Revenues

(R$ million)

Registration 10.3%

Monthly Utilization

19.8%

Transactions 15.8%

Fixed Income Revenues OTC Derivatives Revenues OTC Derivatives Volume (R$ trillion)

Fixed Income Volume (R$ trillion)

(R$ million)

(R$ million) (R$ million)

251.1 279.8 285.1

950.5

1,122.4

4Q15 3Q16 4Q16 2015 2016

CSD and Trade Repository

maintenance fee 45.5%

+13.5%

+18.1%

+1.9%

30.1

113.5

29.4 27.5

121.9

108.2

392.1

129.7 128.9

514.0

24

Registration and Identification of CDB (Time Deposits)

Fonte: Cetip

• Registration:

R$ 50 thousand

• Final Beneficiary

Identification:

R$ 1 million

• Registration and

Final Beneficiary

Identification:

R$ 5 thousand

• Secondary market

trades: R$ 0

BEFORE 3709 AFTER 3709

CDB Stock

Re-Pricing of CDB Products

ORIGINAL

PRICING

Registration Fee

(varies according

to client group

and

CDB maturity)

NEW

PRICING

Registration Fee

(single, simplified and does

not vary according to

CDB maturity)

Maintenance Fee

(decreases by volume and

charged according to

permanency

and not CDB maturity)

Circular Letter 3709

12% 29% 42% 53% 62% 67% 75% 79%

88% 71% 58% 47% 38% 33% 25% 21%

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16

497 1475 1493 1500 1500 1557 1599 1646

Fonte: Cetip

Before

3709

+

After

3709

CDB stock (R$ billions)

25

Increase in Transactions Volume

Source: Cetip

685

730 836

1,0

23

1,2

93

1,2

36

1,2

76

1,2

51 1,3

99

1,4

93

1,4

41

1,5

12

1,5

35

1,3

88

1,4

30

1,4

00

1,4

05

1,4

64

1,4

50

1,5

59

1,4

21

1,4

80

1,5

34

1,5

65

1,6

48

Dec-1

4

Jan

-15

Fe

b-1

5

Ma

r-15

Ap

r-15

Ma

y-1

5

Jun

-15

Jul-1

5

Au

g-1

5

Se

p-1

5

Oct-

15

Nov-1

5

Dec-1

5

Jan

-16

Fe

b-1

6

Ma

r-16

Ap

r-16

Ma

y-1

6

Jun

-16

Jul-1

6

Au

g-1

6

Se

p-1

6

Oct-

16

Nov-1

6

Dec-1

6

0.80 0.81 0.78 0.77

0.68

0.46 0.44 0.42

0.48 0.46 0.45 0.45

1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16

(thousand) (R$ per transaction) +140%

-41%

~50%

Shared economies of scale

Transaction tax

during first business hours:

R$ 0.37

Transaction tax

during first business hours:

Average of R$ 0.745

ORIGINAL PRICING PROPOSED PRICING

Average Daily Number of Transactions Average Price per Transaction

26

4Q15 3Q16 4Q16 2015 2016

Novos Usados

29.4% 26.6% 28.3%

30.6%

28.2%

4Q15 3Q16 4Q16 2015 2016

Usados

Novos

% Veículos financiados / veículos vendidos

Number of Vehicles Financed (‘000)

Gross Revenue - Financing Unit

Financing Unit Gross Revenue Evolution

Number of Vehicles Sold (‘000)

Contracts System Market Share

Financing Unit Revenue Breakdown in 4Q16

New Used % Vehicles Financed / Vehicles Sold

(R$ million)

SNG 37.4%

Contracts System 41.9%

Market Data

20.3%

Other 0.4%

72.6% 74.1% 75.1%

70.8%

73.6%

4Q15 3Q16 4Q16 2015 2016

104.2 105.6 113.8

412.6 423.5

4Q15 3Q16 4Q16 2015 2016

+9.2%

+7.7%

+2.7%

4,345 4,381 4,347

16,516

17,366

1,228 1,167 1,277

4,654 5,312

27

Adjusted Operating Expenses Evolution

Adjusted Operating Expenses, EBITDA and Net Income

Notes: 1. Excludes expenses with share-based incentive, depreciation and amortization 2. Includes expenses with board members and advisory committee

1

Adjusted EBITDA Evolution Adjusted Net Income Evolution

Adjusted Operating Expenses Breakdown in 4Q16 (R$ million)

(R$ million)

Personnel 60.3% 2

Outsourced Services 26.6% G&A

10.9%

Other 2.2%

(R$ million)

204.4 230.3 235.6

790.3

912.3

69.7%

71.4%

70.4% 70.2%

70.9%

4Q15 3Q16 4Q16 2015 2016

Adjusted EBITDA EBITDA Margin %

159.4 162.8 167.1

624.5 638.7

54.4%

50.4% 49.9%

55.5%

49.6%

4Q15 3Q16 4Q16 2015 2016

Net Income Net Margin %

88.6 92.4 99.2

335.2 374.6

4Q15 3Q16 4Q16 2015 2016

+11.9% +11.8%

+7.3%

28

CAPEX

CAPEX Evolution CAPEX Breakdown in 4Q16

Cetip’s key projects: (i) Big Data; (ii) Cetip Trader; (iii) Contracts System; (iv) Depository; (v) Electronic Appraisal; and (vi) Real Estate Platform.

4Q16 Highlights

36.2%

63.2%

0.6%

Maintenance and Expansion of

Capacity Product Development

Offices Settlement

(R$ million)

43.3

23.8 20.2

89.4 97.9

14.8%

7.4% 6.0%

7.9% 7.6%

4Q15 3Q16 4Q16 2015 2016

CAPEX % CAPEX / Net Income

+9.5%

-14.9%

-53.3%

Cetip’s key projects: (i) Big Data; (ii) CCP; (iii) Cetip Trader; (iv) Contracts System; (v) Depository; (vi) Electronic Appraisal; (vii) Liens on Financial Instruments and (viii) Real Estate Platform.

2016 Highlights

29

259.3 272.5 267.8

952.4

1,081.7

88.5%

84.4%

80.0%

84.6% 84.1%

4Q15 3Q16 4Q16 2015 2016

Cash Flow % Net Revenue

+13.6%

+3.3%

-1.7%

Strong Cash Generation

Cash Flow From Operations¹ (% Net Revenue)

Note: 1. Operational cash generation before income tax and social contribution and the allocation of excess cash for investment

Net Debt & Net Debt / Adjusted EBITDA (LTM)

(R$ million)

Net Debt % Net Debt / Adjusted EBITDA

200.6

-15.5

-101.9

0.3

0.0

-0.1

-0.3

-0.1

0.1

0.3

0.5

0.7

0.9

4Q15 3Q16 4Q16

30

Buyback Program

Third Share Buyback Program:

• Valid from: March 2016 until March 2017

• Approved limit: 3,200,000 shares, or 1.23% of total shares outstanding

Dividends and IOC

Creating Value for Shareholders

4Q16 2016

Interest on shareholder’s capital R$ 29.4 million R$ 108.3 million

Proposed dividends R$ 98.6 million R$ 378.4 million

Total distribution R$ 127.9 million R$ 486.7 million

% of Net Income 85.0% 85.0%

31

III. 2016

I. GENERAL OVERVIEW

II. BUSINESS ENVIRONMENT

IV. GROWTH OPPORTUNITIES

32

Cetip | Certifica

Seal that ensures the

identification and actual

registration of assets on

behalf of the beneficial

owner

Cetip | Trader

+ ICE Link

Complete solution

for trading and post

trading of fixed

income instruments

Cetip |

Colateral

Constitution of

financial assets

collateral for the

financial market

CCP

Central

Counterpart for

fixed income and

OTC derivatives

markets

Funding

Instruments and

Depository

Compliance with

Resolution 3,709 and

new products related

to bank funding (Letra

Imobiliária Ga-rantida

and others)

COE

Funding

instrument with

profitability

combining fixed

and variable

income

Securities Business Unit

33

To draw superior relationship model,

reflecting the defined prioritization, but never

fail to meet other accounts (lower focus)

Invest to provide the

best solution and

service available for

OTC market (e.g.:

processes more

efficient and safe)

Client Centricity

Keep all communication

channels open to

capture feedbacks and

deploy them (loops)

Identify the different types of

Cetip’s customers,

segment them and

prioritize them by

representation on Cetip’s

revenue

Securities Business Unit: Client Centricity Project

34

Negotiation

Clearing

Counterpart A

“Client”

Clearing Member Clearing Member

Counterpart B

“Client” Negotiation

CCP

OTC Derivatives

• Forward contracts of currency and

indexes

• Flexible options of currency, stocks

and indexes

• Swaps

Main features of CCP

Segregated special equity

Settlement fund

Collateral management

Monitoring of risk exposure

Margin call

Settlement

Expansion of Services Offered

for OTC Derivatives Markets

Securities Business Unit: CCP

35

Securities Business Unit: Structured Notes – COE

0.2 0.4

1.0

1.6

2.2

2.8 2.7 3.0

3.3 3.5

3.8 3.7 3.8 4.1

4.6

5.1

5.6 5.9

6.5

7.0 7.1

7.4 7.6 7.7 7.8

8.2 8.5 8.6 8.7 8.8

9.0 9.4 9.4 9.5 9.5 9.5

Jan-1

4

Feb

-14

Ma

r-1

4

Apr-

14

Ma

y-1

4

Jun-1

4

Jul-1

4

Aug-1

4

Sep-1

4

Oct-

14

No

v-1

4

De

c-1

4

Jan-1

5

Feb

-15

Ma

r-1

5

Apr-

15

Ma

y-1

5

Jun-1

5

Jul-1

5

Aug-1

5

Sep-1

5

Oct-

15

No

v-1

5

De

c-1

5

Jan-1

6

Feb

-16

Ma

r-1

6

Apr-

16

Ma

y-1

6

Jun-1

6

Jul-1

6

Aug-1

6

Sep-1

6

Oct-

16

No

v-1

6

De

c-1

6

100%

Market Share (2)

Volume in Custody 1

(R$ Billion)

Notes 1. Assets deposited on the last business day of each period. 2. 100% market share in registration.

What we expect:

Issuance Volume

Issuers

Individual Investors

Institutions

Regulated Public Offer

(Instruction CVM 569 dated 14/10/2015)

36

Insurance

Expansion of

services for the

insurance market

Cetip

Contratos

Product

penetration

expansion from

the adhesion of

new states

Real Estate Platform

Automates the process of

mortgage granting, integrating

appraisers and financial

market, and allow the

expansion of services from

the regulation of

Resolution 4,088

Electronic

Formalization

Implementation

of an electronic

formalization flow for

vehicle financing

Market Data

Cetip | Performance

Cetip | InfoAuto Análise

Cetip | Panorama

Cetip |

Infoauto

Pagamentos

Automates and

speeds up the

process of

vehicle financing

Financing Business Unit

37

Electronic Formalization:

• The platform processes the financing transactions electronically and automatically

• Recognition and electronic data extraction based on images

• Validation of the customer’s documentation and collateral based on the proposed financing contract and

public and private data bases

• Agility, standardization and security to the operations

E-mail

Extraction and

electronic validation

Alienation, contract

registration and vehicle

report

Custody and

post-sales

Upload Scanner

Smartphone Tablet Data

extraction

Bank system

Dossier

Collateral

Contract

registration

Lien

Vehicle

appraisal

report

AC

TU

AL

PR

OC

ES

S

Custody

Call Center Charging

Amendments

Multiplatform

capture

Physical Custody Collection

Digital

Signature

Financing Business Unit: Electronic Formalization Project

38

Electronic Formalization Platform: Electronic Appraisal Report

The Report certifies the vehicle situation

at the time of solicitation.

Offers standardization and security for

the financing market, as well as

transparency for the end consumer at

the time of purchase of the vehicle.

This is Cetip’s first product directed to

the vehicle resale market and the first

product that will be available for use by

mobile app.

Purchas of

Financed

Vehicle

Delivery

of Vehicle

Appraisal

Report

Database

consultation

Vehicle

Dealers Costumers

Upload

Smartphone

Tablet

Data

Extraction

Vehicle

Appraisal

Report

Report

Official

databases Internal

databases

Other

external databases

Electronic

Verification

Verification of Liens

1

2 4

5

3b 3a

Electronic Formalization Platform

39

Real Estate Financing - Units Major Projects

Real Estate Financing - Volume

220 266 285 365 375

236 150

189 201 181

221 246

229

192

2010 2011 2012 2013 2014 2015 2016

SBPE FGTS

409 467 466

586 621

465

342

(thousands)

31.8 44.7

54.7 76.9 81.5

54.8 36.0

11.3

13.5 13.4

18.2 22

21.7

19.3

2010 2011 2012 2013 2014 2015 2016

SBPE FGTS

43,0

58,2 68,1

95,1 103,5

76,5

55,3

(R$ billions)

4088

Electronic

Registration

Appraisal

Platform

• Management platform for real estate

appraisal processes

- Appraisers allocation

- Process monitoring

- Robust record of real transactions

• Solution for Central Bank's 4,088

resolution, normative that regulates

the providing of information on real

estate financing contracts

• Process automation in registration

of financed real estate, digitally

connecting financial institutions and

notary offices

Real Estate Platform – Services

*SBPE - Brazilian System of Saving and Loans

**FGTS - Brazilian Government Severance Indemnity Fund

* **

* **

40

Contacts

Willy Jordan

Marcela Souza

Ciro Campanatti

Filipe Scalco

This presentation was issued by CETIP S.A. – Mercados Organizados (“Cetip”, “Company”). Cetip is authorized to

operate by the Brazilian Securities and Exchange Commission (“CVM”) and regulated by both CVM and Brazilian

Central Bank.

This presentation may include statements representing expectations about future events or results of Cetip. These

statements are based upon projections and analyses which reflect present views and/or expectations of the

Management of the Company with regards to its performance and to the future of its business. Risks and

uncertainties related to the Cetip’s businesses, to the competitive and market environment, to the macro-economical

conditions and other factors described in “Risk Factors” in the Reference Form, filed with the CVM, may cause

effective results to differ materially from such plans, objectives, expectations, projections and intentions.

Investor Relations dri@cetip.com.br