Credicorp : 3Q21 Conference Call BAP

Earnings Conference Call

3Q/2021

<1> Market Backdrop

<2> 3Q21 Performance

<3> Outlook

<4> Key Takeaways

<1>

Market Backdrop

Peru's economic activity surpassed pre-pandemic levels amid improvement in

the sanitary situation

Economic Indicators		Copper Price
	(US$/lb., as of November 3rd) (2)
(YoY % change) (1)
	3Q21 vs 3Q20	3Q21 vs 3Q19
GDP	11.2	1.5
Non primary GDP	14.6	3.9
Construction	26.9	21.3
Commerce & Services	12.8	1.7

Excess mortality	COVID vaccinated population
(daily deaths, 7-day average, as of November 1st) (3)*	(millions, as of November 3rd) (3)	19.4	81% of population 18-and-
		over with at least one dose

We expect full-year GDP to rebound around 12% in 2021 (better than initially expected)

1. Source: BCP estimates

2. Source: Bloomberg4

3. Source: Ministry of Health, Sinadef. *Excess compared to 2018-2019 average.

In the Peruvian context, key macro financial indicators have begun to

register less volatility...

USDPEN	Net International Reserves
(US$ million, as of October 28th) (1)
(as of November 3rd) (1)

Central Bank Monetary Policy Rate

(%, as of October 2021) (1)

PEN Sovereign 10-year bond	Sovereign Bonds 10 year	Non-resident bondholders (sovereigns)
(%, as of November 3rd) ⁽2⁾	(%, Aug-20	th	rd	2	4	(% as of October 20th) ⁽3⁾
	vs. November 3	) ⁽	⁾ ⁽ ⁾

1. Source: Central Banks
2. Source: Bloomberg
3. MEF and for October BCRP
4. Brazil 2031, Colombia 2030, Mexico 2031, Chile 2030, Peru 2031

147	55	52	169	-45
123	63	53	113	-93
		Change bps		5