Samar Maziad Vice President - Senior Analyst, Sovereign Risk Group Moody's Investors Service

Dr. Samar Maziad is a Vice President and Senior Analyst at Moody’s Sovereign RiskGroup in New York. She is a lead credit risk analyst for a portfolio of Latin American sovereigns and multilateral development banks, including Brazil and others. Prior tojoining Moody’s, Dr. Maziad was a Senior Economist at the International MonetaryFund, where she covered a wide range of macroeconomic and financial stability issues in emerging markets including China and Latin America.

Dr. Maziad is a regular participant at high-profile market briefings, external conferences and media engagements related to Latin America and emerging markets. Ms. Maziad holds a Ph.D. in Economics from the University of St. Andrews in the UK.

Cristiane Spercel Senior Vice President, Project & Infrastructure Finance Moody's Investors Service

Cristiane is a Senior Vice President/Manager, based in Sao Paulo with management responsibility for the rating agency coverage of project finance, infrastructure and sub sovereign credits across Latin America. In her role, she oversees a team of analysts covering those sectors, developing research on sector trends and conducting outreach activities with key market participants. Cristiane has over fifteen years of experience in the financial services industry. Since she joined the firm in January 2007, Cristiane covered several infrastructure credits in the transportation, sanitation and electricity sectors and project finance transactions. Cristiane has also worked as a senior analyst with Moody's corporate finance team covering high yield and financially distressed issuers in the real estate, construction and transportation sectors until 2016.Before joining Moody's, Cristiane developed credit analysis at West lB and fixed income portfolio management activities at Bank Boston. Cristiane holds a Master's degree in Finance from the Zicklin School of Business at Baruch College, a Bachelor's degree in Business Administration and a MBA in Real Estate from the University of Sao Paulo.

Marianna Waltz Managing Director - Head of LatAm Ratings and Research Moody's Investors Service

Marianna Waltz is a Managing Director at Moody’s Investors Service and has joined the company in 2011. She currently runs Moody’s ratings teams in Latin America, including the Corporate Finance, Infrastructure, Banking and Sub-Sovereign groups across more than 15 countries. She is responsible for the development of MIS ratings and research opinions for the region’s fundamental ratings groups, and the delivery of services to issuers and market participants. Prior to assuming this role in January 2021, Marianna was the Managing Director responsible for Moody’s Corporate Finance team in Latin America. Marianna is also a member of the Board of Directors of Moody’s Local, an affiliate of Moody’s in Peru, Panamá, Bolivia, Argentina, Uruguay, and Brazil. Prior to joining Moody’s, Marianna developed a career as an equity sell side analyst covering mostly the Brazilian Consumer and Protein sectors. From 2008 to 2011, she was the head of sell-side equity research in the investment arm of Banco do Brasil in Sao Paulo. Marianna is a CFA charter holder and holds three master’s degrees, including an MBA in Finance from IBMEC Business School and an MBA in Marketing from Fundação Getúlio Vargas - FGV.

Samar Maziad Vice President - Senior Analyst, Sovereign Risk Group Moody's Investors Service

Dr. Samar Maziad is a Vice President and Senior Analyst at Moody’s Sovereign RiskGroup in New York. She is a lead credit risk analyst for a portfolio of Latin American sovereigns and multilateral development banks, including Brazil and others. Prior tojoining Moody’s, Dr. Maziad was a Senior Economist at the International MonetaryFund, where she covered a wide range of macroeconomic and financial stability issues in emerging markets including China and Latin America.

Dr. Maziad is a regular participant at high-profile market briefings, external conferences and media engagements related to Latin America and emerging markets. Ms. Maziad holds a Ph.D. in Economics from the University of St. Andrews in the UK.

Marianna Waltz Managing Director - Head of LatAm Ratings and Research Moody's Investors Service

Marianna Waltz is a Managing Director at Moody’s Investors Service and has joined the company in 2011. She currently runs Moody’s ratings teams in Latin America, including the Corporate Finance, Infrastructure, Banking and Sub-Sovereign groups across more than 15 countries. She is responsible for the development of MIS ratings and research opinions for the region’s fundamental ratings groups, and the delivery of services to issuers and market participants. Prior to assuming this role in January 2021, Marianna was the Managing Director responsible for Moody’s Corporate Finance team in Latin America. Marianna is also a member of the Board of Directors of Moody’s Local, an affiliate of Moody’s in Peru, Panamá, Bolivia, Argentina, Uruguay, and Brazil. Prior to joining Moody’s, Marianna developed a career as an equity sell side analyst covering mostly the Brazilian Consumer and Protein sectors. From 2008 to 2011, she was the head of sell-side equity research in the investment arm of Banco do Brasil in Sao Paulo. Marianna is a CFA charter holder and holds three master’s degrees, including an MBA in Finance from IBMEC Business School and an MBA in Marketing from Fundação Getúlio Vargas - FGV.

Cristiane Spercel Senior Vice President, Project & Infrastructure Finance Moody's Investors Service

Cristiane is a Senior Vice President/Manager, based in Sao Paulo with management responsibility for the rating agency coverage of project finance, infrastructure and sub sovereign credits across Latin America. In her role, she oversees a team of analysts covering those sectors, developing research on sector trends and conducting outreach activities with key market participants. Cristiane has over fifteen years of experience in the financial services industry. Since she joined the firm in January 2007, Cristiane covered several infrastructure credits in the transportation, sanitation and electricity sectors and project finance transactions. Cristiane has also worked as a senior analyst with Moody's corporate finance team covering high yield and financially distressed issuers in the real estate, construction and transportation sectors until 2016.Before joining Moody's, Cristiane developed credit analysis at West lB and fixed income portfolio management activities at Bank Boston. Cristiane holds a Master's degree in Finance from the Zicklin School of Business at Baruch College, a Bachelor's degree in Business Administration and a MBA in Real Estate from the University of Sao Paulo.