GHG INVENTORY BICBANCO 2014

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2 GHG INVENTORY BICBANCO 2014 The release of greenhouse effect gases (GHG) associated with human activities around the world is recognized as the main cause of climate changes that have been observed in recent decades. Such climate changes have become increasingly frequent and are catalyzing other unpredictable natural phenomena and highly damaging to our ecosystems and communities. Recognizing its role as a financial institution in line with sustainability and believing that the risks of climate changes represent opportunities related to new products and financing of sustainable projects, since 2010, BICBANCO accounts, discloses and manages its GHG emissions. The GHG Inventory reporting of BICBANCO follows the international standards of the GHG Protocol Corporate Accounting and Reporting Standard GHG Protocol, developed by the World Resources Institute (WRI) in association with the World Business Council for Sustainable Development (WBCSD). BICBANCO reports the emissions of all greenhouse gases that are recognized by the United Nations Framework Convention on Climate Change (UNFCCC), as responsible for climate changes, namely: carbon dioxide (CO 2 ), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulfur hexafluoride (SF6) and nitrogen trifluoride (NF 3 ). BICBANCO s GHG Inventory reports all direct GHG emissions, classified within the Scope 1 of GHG Protocol, the indirect emissions associated with electric power consumption (Scope 2) and indirect emissions associated with its activities (Scope 3). The report of emissions approaches all activities of BICBANCO and its subsidiaries: BIC LEASING, BIC CARTÕES, BIC INFORMÁTICA, BIC DTVM e SUL FINANCEIRA S.A.

3 DESCRIPTIVE INFORMATION ORGANIZATION DESCRIPTION APPROACH OF CONSOLIDATION OF EMISSIONS DESCRIPTION OF OPERATIONS INCLUDED Banco Industrial e Comercial S.A. (BICBANCO) BICBANCO is a financial institution that values equity and productive capital by intermediating business of companies for the country s socioeconomic development. Approach of Operational Control. The Inventory accounts for emissions of the following companies: Banco Industrial e Comercial S.A (BICBANCO), BIC Arrendamento Mercantil S.A (BIC LEASING), BIC Administradora de Cartões de Crédito Ltda. (BIC CARTÕES), BIC INFORMÁTICA, BIC Distribuidora de Títulos e Valores Mobiliários (BIC DTVM) and SUL FINANCEIRA S.A. REPORTING PERIOD From January 1 to December 31, 2014 Scope 1: Mobile combustion associated with own vehicles and aircrafts EMISSION SOURCE INCLUDED AVOIDED EMISSION METHODS OF ACCOUNTING GHG ACCOUNTED Scope 2: Purchase of electric power from the National Interconnected System Scope 3: Fugitive emissions associated with the wastewater treatments at head offices, and mobile combustion associated with air travels of employees, cargo transportation, and taxi rides and motorcycle courier services. Scope 1: Stationary combustion in electric power generators there were no reports of activity for the period of this Inventory. As for HFCs fugitive emissions in cooling equipment, there were no reports of activity for the period of this Inventory. The Inventory applies the accounting methods referred to by the IPCC Guidelines 2006 and methods developed by DEFRA (Department for Environment Food & Rural Affairs, 2013). The 2013 Inventory reports emissions of the following GHGs: CO 2, CH 4, N 2O and HFC-410A. The Inventory also reports biogenic CO 2 emissions and those caused by the use of HCFCs as supplementary information.

4 GHG EMISSIONS The 2014 GHG Inventory of BICBANCO quantified total emissions of 1,764 tco2e, of which 713 tco2e belong to Scope 1, 461 tco2e to Scope 2 and 590 tco2e to Scope 3. SCOPE tco 2 e 40% SCOPE tco 2 e 34% SCOPE tco 2 e 26% Graph 1 Bicbanco GHG Emissions Scope 1 The Scope 1 of BICBANCO s 2014 Inventory includes the emissions associated with fuel consumption in vehicles and in the company's own aircraft. This year, there were no HFCs emissions. The total emissions in scope 1 is tco 2 e, and the major part related to the fuel consumption of the aircraft ( tco 2 e), followed by fuel consumption of vehicles ( tco 2 e).

5 Avião próprio; 64% Veículos ; 36% Graph 2 - Scope 1 emissions Scope 2 BICBANCO s Scope 2 emissions correspond to the consumption of electric power from the National Interconnected System. In 2014, the total emissions totaled tco 2 e The emissions resulting from the use of electricity were the main contributors to the result of this inventory, representing 26.1% of total GHG emissions. Graph 3 - Evolution of the Grid emission factor Scope 3 BICBANCO s Scope 3 indirect emissions may be classified as "Mobile Combustion" which includes the emissions from the relocation of employees in air travels and taxi rides, and the sending of cargo through air and road transportation, and motorcycle courier service - and as "Fugitive Emissions", which includes emissions from wastewater treatment.

6 EMISSION SOURCE GHG EMISSION (tco2e) Effluents Air Travel Air Travel (Audit) 5.21 Air Transport (Cargo) 7.72 Land Transport (Cargo) 13.1 Land Transport (Motorbike courier) 9.79 Taxi (Audit) 0.57 Table 1 - Total emissions per source in Scope 3 Viagens Aéreas Viagens Aereas da Equipe de Auditoria Transporte Aéreo de Cargas Taxi da Equipe de Auditoria Transporte Terrestre de Cargas Transporte Terrestre por Motoboy Efluentes 0% 10% 20% 30% 40% 50% 60% 70% 80% Graph 4 - Scope 3 emissions

7 HISTORY OF EMISSIONS BICBANCO s history of emissions shows that Scopes 1 and 2 totaled 1,174 tco2 in This represents a reduction of 5.75% compared to this 2013, a decrease of 6.6% in 2012 and an increase of 10.7% compared to Scope 3 emissions, which totaled 590 tco2e in 2014, represented an increase of 70.6% compared to 2013, 36% compared to emissions calculated in 2012 and 59.9% in This increase is mainly related to the increase in DEFRA s emission factor used for the calculation of air travels. SCOPE 1 SCOPE 2 SCOPE 3 Graph 5 - Emission history by Scope from 2011 to 2014 Fugitive Emissions - Scope 1 SCOPE 1 Direct Mobile Combustion Direct Stationary Combustion SCOPE 2 Electricity Air Travel SCOPE 3 Cargo transportation Fugitive Emissions - Scope 3 Indirect Mobile Combustion Graph 6 - Emission history by category

8 Independent auditors' limited assurance report on the data of the Greenhouse Gas Emissions Inventory Report for 2014 To the Board of Directors Banco Industrial e Comercial S.A. São Paulo- SP Introduction 1 We have been engaged by Banco Industrial e Comercial S.A. ("Bicbanco") to present our limited assurance report on the compilation and fair presentation of the data included in the Greenhouse Gas (GHG) Emissions Inventory ("GHG Emissions Inventory for 2014") of Banco Industrial e Comercial S.A for the year ended December 31, This report includes, among other information, the procedures for significant quantifications, the criteria and the methodology for the preparation of the GHG Inventory Report for 2014, and the organizational and operational boundaries of the activities of Bicbanco. Management's responsibility for the GEE Inventory Report for The management of Bicbanco is responsible for the compilation and fair presentation of the data included in the GHG Inventory Report for 2014, in accordance with the criteria defined in paragraph 3 and boundaries defined in paragraph 4 herein and for such internal control as it determines is necessary to enable the preparation of information free from material misstatement, whether due to fraud or error. 3 The criteria for assessing the measurement, capture, calculation, estimation and reporting of the emission and removal data of Bicbanco and its subsidiaries in the GHG Inventory Report for 2014 were based on the following documents: (a) FGV-GVCes/WRI: Brazilian GHG Protocol Program Specifications: Accounting, Quantifying and Reporting of Corporate Greenhouse Gas Emission Inventories (2nd edition). (b) WBCSD/WRI/GHG Protocol: A Corporate Accounting and Reporting Standard. Revised Edition, March 2004, World Business Council on Sustainable Development, World Research Institute, Greenhouse Gas Protocol. (c) ISO : Part 1 - Specification with guidance at the organization level for quantification and reporting of greenhouse gas emission and removals, International Organization for Standardization, (d) Intergovernmental Panel on Climate Change (IPCC) 2006, "2006 IPCC Guidelines for National Greenhouse Gas Inventories", prepared by The National Greenhouse Gas Inventories Programme, Enggleston H.S., Buendia L., Miwa K., Ngara T. and Tanabe K. (eds). Published: IGES, Japan In accordance with the criterion of the WBCSD/WRI/GHG Protocol, mentioned in paragraph 3, the organizational boundary of the GHG Emissions Inventory Report for 2014 was defined based on the operational control approach. The operational boundaries include the sources of emissions of scopes 1 and 2 of the GHG Protocol, as well as the following sources of scope 3: i) Fugitive emissions - effluents; and ii) Mobile combustion: air travel by employees and by the external audit professionals, air and land cargo transportation, motorcycle-delivery services and use of taxis by external audit professionals. Auditor's responsibility 5 Our responsibility is to express a conclusion on the data of the GHG Inventory Report for 2014 of Bicbanco, based on our limited assurance engagement carried out in accordance with the Brazilian standard NBC TO 3000, "Assurance Engagements Other than Audit and Review", issued by the Brazilian Federal Accounting Council (CFC), which is equivalent to the international standard ISAE 3000, "Assurance Engagements Other than Audits or Reviews of Historical Financial Information", issued by the International Auditing and Assurance Standards Board (IAASB). Those standards require that we comply with ethical requirements, including independence requirements, and perform our engagement to obtain limited assurance that the information included in the GHG Inventory Report for 2014, taken as a whole, is fairly presented in accordance with the criteria defined in paragraph 3 and boundaries defined in paragraph 4 above.

9 6 A limited assurance engagement conducted in accordance with NBC TO 3000 and ISAE 3000 mainly consists of making inquiries of management and other professionals involved in the preparation of the information, as well as applying analytical procedures to obtain evidence that allows us to issue a limited assurance conclusion on the information, taken as a whole. A limited assurance engagement also requires the performance of additional procedures when the independent auditor becomes aware of matters that lead him to believe that the information taken as a whole might present significant misstatements. 7 The procedures selected are based on our understanding of the aspects related to the compilation and presentation of the data included in the GHG Emissions Inventory for 2014, other circumstances of the engagement and our analysis of the areas in which significant misstatements might exist. The following procedures were adopted: (a) planning the work, taking into consideration the criteria defined in paragraph 3 and boundaries defined in paragraph 4 above, the materiality and the volume of quantitative and qualitative information and the operating and internal control systems that were used to prepare the data included in the GHG Inventory Report for 2014 of Bicbanco; (b) understanding the calculation methodology and the procedures adopted for the compilation of emission data through interviews with the managers responsible for the preparation of the information; and (c) applying analytical procedures, as applicable, to quantitative information and making inquiries regarding the qualitative information and its correlation with the data included in the GHG Inventory Report for We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our limited assurance conclusion. Scope and limitations 9 The procedures applied in a limited assurance engagement are substantially less detailed than those applied in a reasonable assurance engagement, the objective of which is the issuance of an opinion on the compilation and fair presentation of the data in the GHG Inventory Report for Consequently, we are not able to obtain reasonable assurance that we would become aware of all significant matters that might be identified in a reasonable assurance engagement, the objective of which is the issuance of an opinion. If we had performed an engagement with the objective of issuing an opinion, we might have identified other matters and possible misstatements in the data included in the GHG Inventory Report for Therefore, we do not express an opinion on this information. 10 The information and data with respect to the actions and activities regarding sustainability, general information and views related to climate change, the description of the managing activities related to the process for preparation of the GHG Inventory Report for 2014, and the description of operational activities, which are not a basis for the GHG Inventory Report for 2014, are not part of the scope of our work and, therefore, are not covered by our limited assurance report. 11 Non-financial data are subject to more inherent limitations than financial data, due to the nature and diversity of the methods used to determine, calculate and estimate these data. Qualitative interpretations of the relevance, materiality and accuracy of the data are subject to individual assumptions and judgments. Conclusion 12 Based on the procedures performed, described herein, no matter has come to our attention that causes us to believe that the data of the GHG Inventory Report for 2014 of Banco Industrial e Comercial S.A. for the year ended December 31, 2014 have not been compiled and fairly presented, in all material respects, in accordance with the criteria described in paragraph 3 and the boundaries defined in paragraph 4 above. São Paulo, April 1, 2015 PricewaterhouseCoopers Auditores Independentes CRC 2SP000160/O-5 Evandro Carreras Contador CRC 1SP176139/O-0