May 7, 2014

Presentation of 1Q14 Results

Ramon Vazquez

1Q14 Results

2

Mills - Financial Performance¹

¹ Reclassified excluding the Industrial Services business unit, for comparison.

² ROIC: Return on Invested Capital. Until 2010, ROIC was calculated considering the effective income tax rate for the period, while from 2011 onwards ROIC was calculated considering a

theoretical 30% income tax rate.

1Q14/1Q13 1Q14/4Q13 LMT1Q14/2013 CAGR 10-13

Net Revenue +10% -1% +2% +33%

EBITDA +12% +5% +3% +34%

Net Earnings -14% -26% -3% +19%

Presentation of 1Q14 Results – 05/07/2014

In R$ millions

187,5 188,4

211,8 222,0

210,1 207,8

83,3 95,7 98,9

106,1 102,4 107,5

41,7 39,3 48,1 39,6

45,6 33,9

44,4%

50,8%

46,7%

47,8% 48,7% 51,7%

14,5% 14,9% 14,2% 13,9% 13,4% 11,5%

4Q12 1Q13 2Q13 3Q13 4Q13 1Q14

Net Revenue EBITDA Net Earnings EBITDA Margin ROIC²

354,5

462,8

665,5

832,3 851,7

168,4

217,4

339,0

403,1 414,9

103,3 92,2

151,5 172,6 167,2

47,5% 47,0%

50,9% 48,4% 48,7%

21,0%

12,3%

14,7% 14,1% 13,9%

2010 2011 2012 2013 LTM1Q14

Rental 85%

Technical support services

1%

Sales 8%

Others 6%

By service category

Heavy Construction

29%

Real Estate 24%

Rental 47%

By business unit

3 Presentation of 1Q14 Results – 05/07/2014

Net revenues totaled R$ 207.8 million in 1Q14

4

We launched an expense reduction program to minimize the

effect of higher G&A allocated in the remaining business units

after the sale of Industrial Services

13,9 16,7

12,6 16,5 15,9

21,9 22,3

22,9 20,8 22,0

15,5

16,0 18,3

19,5 19,6

8,8

8,9 12,5 9,6

1,1

1Q13 2Q13 3Q13 4Q13 1Q14

Industrial Services

Rental

Real Estate

Heavy Construction

-12%

+3% 63.8

66.4 66.4¹

58.5

51.3

54.9 53.9 56.8

¹Excluding capital gain from the sale of the Industrial Services business unit

60.1

Presentation of 1Q14 Results – 05/07/2014

In R$ million

1Q14/1Q13 1Q14/4Q13 LTM1Q14/2013 CAGR 10-13

Net Revenue +8% -13% +2% +12%

EBITDA +5% -12% +1% +14%

Heavy Construction – Financial Performance

5

* Excluding the positive effect of tax reversal in the amount of R$ 1.5 million in 3Q13.

1 ROIC: Return on Invested Capital. Until 2010, ROIC was calculated considering the effective income tax rate for the period, while from 2011 onwards ROIC was calculated considering a

theoretical 30% income tax rate.

Presentation of 1Q14 Results – 05/07/2014

47,3 47,5

55,1 55,7 55,7 58,6

51,0

20,2

24,3 25,1

29,4 28,2 29,3 25,6

42,7%

51,3%

45,5%

52,8% 50,6%

49,9%

50,2%

14,8%

18,6% 17,8%

20,9% 19,7%

19,1%

14,0%

4Q12 1Q13 2Q13 3Q13 3Q13* 4Q13 1Q14

Net Revenue EBITDA EBITDA Margin ROIC¹

154,3

131,6

174,1

217,0 220,5

73,6 57,8

84,3

108,1 109,4

47,7%

43,9%

48,5% 49,8% 49,6%

24,1%

12,1%

17,2% 19,2%

17,9%

2010 2011 2012 2013 LTM1Q14

• Transposition of the

São Francisco river*

• Comperj refinery*

• Subway line 5 – SP*

• Raposo Tavares

highway

• Belo Monte

hydroelectric power

plant*

• Norte-Sul railroad*

• Jurong shipyard

• Olympic park

• Silver monorail line-

SP*

• Gold monorail line-

SP*

• Pulp mill expansion-

RS*

Evo

luti

on

of

reve

nu

e g

en

era

tio

n

(B

asis

10

0=

Ma

xim

um

mo

nth

ly r

eve

nu

e in t

he

life

of co

nstr

uctio

n)

Length of time of Mills participation in the construction work – average cycle is 24 months

• Belo Monte hydroelectric

power plant

• Vale’s S11D project

• Norte-Sul railroad

• Oeste-Leste railroad

• North beltway

• Subway lines 4 e 5 – SP

• Companhia Siderúrgica

do Pecém steel mill

• Paraguaçu shipyard

• Salvador subway

• Goiânia airport

• Confins airport

• Pulp mill expansion- RS

• Colíder and Teles Pires

hydroelectric power plants

• Comperj refinery

• Transposition of the São Francisco

river

• Cais das Artes

• Vale projects

• East beltway- SP

• Gold monorail line- SP

• Subway line 4 – RJ

• BRT Transcarioca

• Libra terminal

• Cuiabá light rail

• Jacu-Pêssego highway

• Jirau hydroelectric power

plants

• Abreu e Lima refinery

• Natal airport

• Fortaleza airport

• Viracopos and Guarulhos

airport

• Brasília airport

• Confins airport

• Metropolitan Arch – RJ

• Surroundings of

Maracanã

• Gerdau projects

• Minas-Rio pipeline

New

contracts*

Contracts with growing

volume of equipment

Contracts with high volume

of equipment Contracts in the

demobilization process

* New streches

Important contracts per stage1 in the evolution of monthly

revenue from Heavy Construction projects

6

1 In 1Q14

Presentation of 1Q14 Results – 05/07/2014

7

New products that offer gains of productivity and security

Mills Light

Lifting carts

Presentation of 1Q14 Results – 05/07/2014

1Q13/1Q14 1Q14/4Q13 LTM1Q14/2013 CAGR 10-13

Net Revenue -8% +10% -2% +35%

EBITDA -15% +37% -5% +29%

Real Estate – Financial Performance

8

1 ROIC: Return on Invested Capital. Until 2010, ROIC was calculated considering the effective income tax rate for the period, while from 2011 onwards ROIC was calculated considering a

theoretical 30% income tax rate.

Presentation of 1Q14 Results – 05/07/2014

In R$ million

66,0 64,9 66,5

72,4

54,2

59,5

26,1 27,7 24,6 24,4

17,1

23,5

39,6%

42,8%

37,0% 33,7%

31,5%

39,4%

12,6% 12,8%

9,3% 8,2%

3,2%

6,6%

4Q12 1Q13 2Q13 3Q13 4Q13 1Q14

Net Revenue EBITDA EBITDA Margin ROIC¹

105,1

155,8

238,0

258,0 252,6

43,9

66,0

113,4

93,8 89,5

41,7% 42,4% 47,7%

36,4% 35,4%

23,5%

14,3%

15,7%

8,1% 6,7%

2010 2011 2012 2013 LTM1Q14

9

3,5

2,9 3,0

4,6

-18,6%

3,8%

55,3%

-60%

-40%

-20%

0%

20%

40%

60%

80%

100%

-

0,5

1,0

1,5

2,0

2,5

3,0

3,5

4,0

4,5

5,0

1Q11 1Q12 1Q13 1Q14

Yo

Y (

%)

La

un

ches (in R

$ m

illio

ns)

1 Cyrela, Direcional, Even, Eztec, Gafisa, Helbor, MRV and Rodobens

Source: Operational reports from companies and Mills

Total launches1

in R$ billion

Launches were up 55.3% in the 1Q14, while sales expanded

25.7%

3,8 3,5

3,8

4,8

-7,6%

10,6%

25,7%

-60%

-40%

-20%

0%

20%

40%

60%

80%

100%

-

1,0

2,0

3,0

4,0

5,0

6,0

1Q11 1Q12 1Q13 1Q14

Yo

Y (

%)

Sa

les (in R

$ m

illio

ns)

Total sales1

in R$ billion

Presentation of 1Q14 Results – 05/07/2014

1Q13/1Q14 1Q14/4Q13 LTM1Q14/2013 CAGR 10-13

Net Revenue +28% +0.1% +6% +55%

EBITDA +34% +4% +7% +58%

Rental – Financial Performance

10

1 ROIC: Return on Invested Capital. Until 2010, ROIC was calculated considering the effective income tax rate for the period, while from 2011 onwards ROIC was calculated considering a

theoretical 30% income tax rate.

Presentation of 1Q14 Results – 05/07/2014

In R$ million

74,2 76,1

90,1 93,9

97,2 97,3

36,9

43,6 49,3

52,3 56,0

58,4

49,8%

57,3%

54,7% 55,7% 57,7%

60,1%

16,9% 19,1% 18,5% 18,1% 17,5% 17,1%

4Q12 1Q13 2Q13 3Q13 4Q13 1Q14

Net Revenue EBITDA EBITDA Margin ROIC¹

95,1

175,4

253,5

357,3

378,5

51,0

93,6

141,2

201,2 216,1

53,6% 53,4% 55,7% 56,3%

57,1%

19,2% 16,5% 18,2%

18,1% 17,8%

2010 2011 2012 2013 LTM1Q14

Award - “IPAF training center of the year

11

Source: Mills

Presentation of 1Q14 Results – 05/07/2014

IAPA Award

ceremony

England –

April 2014

In the first quarter of this year 1,500 motorized access

equipment units came onto the Brazilian market

12

Motorized access equipment fleet

In thousands of units

Source: Mills

Presentation of 1Q14 Results – 05/07/2014

+5%

8

11

16

21

30 31

0

5

10

15

20

25

30

35

2009 2010 2011 2012 2013 1Q14

Growth Plan

74 47 51

106

15

104 185

60

90

4

131

163

161

267

73

15

18

20

36

10

324

413

292

499

102

2010 2011 2012 2013 1Q14

Rental

Real Estate

Heavy Construction

In R$ million

Capex ¹

Realized 1Q14 /

2014 Capex Budget

(%)

41%

18%

43%

Mills invested R$ 93 million in rental equipment in 1Q14

14

¹ Reclassified excluding the Industrial Services business unit, for comparison.

Presentation of 1Q14 Results – 05/07/2014

Total 40%

Rental equipment

Mills - Investor Relations

Tel.: +55 21 2123-3700

E-mail: ri@mills.com.br

www.mills.com.br/ri