LATIN AMERICA - ECONOMIC OVERVIEW

INFLATION(Annual %)

EQUITY MARKET PERFORMANCE(5-year Local-Currency % Return)

PERU COLOMBIA BRAZIL CHILE MEXICO

-59 -47 -44 -28

8

High inflation and depreciating currencies

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PUBLIC MARKET INFORMATION (NYSE)

LATIN AMERICA: 114 NYSE listings; US$772.8b market value

ARGENTINA11 ADR

4 NON-ADRUS$32.7bMARKET CAP

26 DR

2 NON-DRUS$348.6bMARKET CAP

BRAZIL MEXICO12 DR US$154.8b

MARKET CAP

CHILE11 ADR US$72.9b

MARKET CAP

PERU2 ADR

2 NON-ADRUS$13.7bMARKET CAP

4 ADR US$34.9bMARKET CAP

COLOMBIA

CORPORATE DEBT

LatAmUS$178b debt issuedin 2014

US$165b in 2013MEXICOUS$60b Issued

BRAZILUS$56b Issued

$109b denominated in US dollars while $47b in local currencies

4.23.9

MEXICO

6.35.9

BRAZIL2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

4.04.2

COLOMBIA

9.0

7.8

URUGUAY

3.33.0

PERU

3.23.7

CHILELast Decade 2016-17 (f)

In 2015, Latin America witnessed its first region-wide economic slump since the global financial crisisMacroeconomic drivers include:

Decreasing commodity prices

Declining exports to China

2012 2013 2014 2015GDP GROWTH

(2016-17f)

GDP ($ billions) 607.7 622.1 544.7 585.6

(1.8%) (1.7%) (2.5%) (4.0%)Fiscal Bal. (% of GDP)0.7%ARGENTINA

GDP ($ billions) 2,459.5 2,464.7 2,417.2 1,772.6

(2.3%) (3.0%) (6.1%) (10.4%)Fiscal Bal. (% of GDP)(0.6%)BRAZIL

GDP ($ billions) 265.1 277.0 258.7 240.2

0.6% (0.6%) (1.6%) (2.2%)Fiscal Bal. (% of GDP)2.4%CHILE

GDP ($ billions) 369.6 380.0 377.9 293.2

(1.9%) (2.2%) (2.6%) (3.1%)Fiscal Bal. (% of GDP)3.1%COLOMBIA

3.1%GDP ($ billions) 1,186.6 1,261.8 1,297.9 1,144.3

(2.6%) (2.3%) (3.2%) (3.5%)Fiscal Bal. (% of GDP)MEXICO

4.0%GDP ($ billions) 192.8 202.1 202.9 192.1

2.3% 0.9% (0.3%) (2.1%)Fiscal Bal. (% of GDP)PERU

Target Company - LifeMiles BVFinancial Sponsor - Advent International Corp.Deal Value - US$343.7m

LATIN AMERICA - PRIVATE EQUITY LANDSCAPE

FUND RAISING

DEAL ACTIVITY

ABOUT TRESVISTATresVista Financial Services is the leading provider of high-end outsourced support for asset managers, investment banks, research firms, and corporates. TresVista delivers operational efficiencies and cost savings to its clients while providing them

with dedicated teams to support them across various functional activities. Services include investor relations, fund raising, deal sourcing, deal execution, valuation, research, financial modeling, portfolio management, marketing and legal support.

US$84.5b

US$4.7t35% Increase Over

2014 Across the Globe

30% Decrease In

2015 LatAm M&A activity

MID-CAP

US$2.2b

InformationTechnology

Consumer/Retail68DEALS

VENTURE CAP

US$594m

Transportation182DEALS

InformationTechnology

FinancialServices

LARGE-CAP

US$3.8b

Oil & Gas Healthcare Energy14DEALS

Biggest Deals

Investments

Target Company - Oi SaFinancial Sponsor - LetterOne HoldingsDeal Value - US$4b

Target Company - Rede D’Or Sao Luiz SAFinancial Sponsor - Carlyle Group LPDeal Value - US$592.9m

Target Company - General Electric Co.Financial Sponsor - Linzor Capital Partners LPDeal Value - US$1.1b

TRADE SALES

EXITS

55% 25%SECONDARY

BUYOUTS

No Private Equity exit through IPO

52 Companies

exited in 2015 with US$3.0b

Funds Raised in $billion

10.3

5.6

5.5

10.4

7.2

2011 2012 2013 2014 2015

6.5

7.9

8.9

7.9

6.5

0

50

100

150

200

250

300

350

-

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

10.0

2011 2012 2013 2014 2015

Investments in $billion Number of Transactions

173

237 233

306 310

SOURCE: TresVista Financial Services; LAVCA 2016 Industry Data; Ernst and Young - PE Roundup Latin America-2016; IMF; Focus Economics; Scotiabank; NYSE.

BrazilDeals 149US$3,166m

MexicoDeals 88US$2,268m

PeruDeals 19US$378m

ChileDeals 14US$178m

ColombiaDeals 18US$415m

ArgentinaDeals 17US$41m

LARGEST FUNDS RAISED

P2BRASIL IIICLOSE SIZE

US$1,674.0m

Infrastructure Timber Consumer/Retail

Consumer/Retail

BTG PACTUAL BRAZIL TIMBERLAND FUND I

CLOSE SIZE

US$860.0m

LINZOR CAPITAL PARTNERS FUND III

CLOSE SIZE

US$621.0m

PÁTRIA BRAZIL REAL ESTATE FUND III

CLOSE SIZE

US$512.0m

Property Health care Diversified

AXXON BRAZIL PRIVATEEQUITY FUND III

CLOSE SIZE

US$400.0m

FONDO DE FONDOSMEXICO IICLOSE SIZE

US$349.0m

Education/Training

Industrial

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