Mr. Henri Penchas serves as Director of Itausa Investimentos Itau SA since May 2015. Prior to this, he served as Deputy Chief Executive Officer, Investor Relations Officer and Member of the Executive Board of the company. He has been Investor Relations Officer of the Company since 1995. He also served as Executive Director of the Company from December 1984 to April 2008; Member of the Disclosure and Insider Trading Committee since April 2005 and Member of Accounting Policy and Investment Policy Committees since August 2008. Within Itau Unibanco Holding SA, he has been Member of the Board of Directors since March 2003; Senior Vice President from March 2003 to May 2008; Member of the Risk Management, Capital and Accounting Policy Committees from May 2008 to April 2009. At Itau Unibanco SA, he was Senior Vice President from April 1997 to April 2008; Member of the Board of Directors from April 1997 to March 2003; Executive Vice President from April 1993 to March 1997; and Executive Director from 1988 to 1993, responsible for Financial Controls. He was Vice Chairman of the Board of Directors of Banco Itau BBA SA from February 2003 to April 2008. At Duratex SA he has served as General Manager since April 2009. He obtained a Masters degree in Finance from Fundacao Getulio Vargas (FGV) and a degree in Mechanical Engineering from Universidade Presbiteriana Mackenzie in 1968.