Credicorp : 1Q21 Conference Call BAP

Earnings Conference Call

1Q/2021

<1>Market Backdrop

<2>1Q21 Results

<3>Outlook

<4>Key Takeaways

<1>

Market Backdrop

Sanitary situation and political landscape continue to be factors of uncertainty

Excess mortality in Peru and Metropolitan Lima*	Peru: Composition of the Congress(2)
(7-day average, Sinadef, as of April 25th) (1)	(number of seats)

• Peru:according to initial polls, Castillo leads voting intentions for the second round of presidential elections.
• Colombia:the 15thtax reform since 1991, presented by the Executive Branch, was recently withdrawn, a new bill will be designed
• Chile:postponed elections will take place on May 15thand 16thto elect members of the constitutional Assembly.

(1)	Source: Ministry of Health, Sinadef. *Excess compared to 2018-2018 average	4
(2)	Source: ONPE

Despite focalized lockdowns, economic activity continued to recover in the first quarter of 2021

Seasonally-adjusted GDP	Electricity demand	Price of Copper
(USD/lb., as of May 5th) (3)
(4Q19 = 100) (2)
(4Q19 = 100)	(1)

We expect GDP to rebound 9% in 2021 in a context of strong commodity prices and expansive monetary and fiscal policy stances.

(1)	Source: Central Bank of Peru. Economic Research Department - BCP	5
(2)	Source: COES

1. Source: Bloomberg