May, 2010

Disclaimer

This presentation relating to MMX Mineração e Metálicos S.A. (“MMX”) includes “forward-looking statements”, as that term is defined in thePrivate Securities Litigation Reform Act of 1995, in Section 27A of the Securities Act of 1933 and Section 21E of the U.S. Securities ExchangeAct of 1934. All statements other than statements of historical facts are statements that could be deemed forward-looking statements andare often characterized by the use of words such as “projects”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, “may”,“will”, or “intends”, or by discussions or comments about our objectives, strategy, plans or intentions and results of operations. Forward-looking statements include projections regarding our operating capacity, operating expenditures, capital expenditures and start-up dates.

By their nature, these forward-looking statements involve numerous assumptions, uncertainties and opportunities, both general andspecific. The risk exists that these statements may not be fulfilled or, even if they are fulfilled, the results or developments described in suchspecific. The risk exists that these statements may not be fulfilled or, even if they are fulfilled, the results or developments described in suchstatements may not be indicative of results or developments in future periods. We caution participants of this presentation not to placeundue reliance on these forward-looking statements as a number of factors could cause future results to differ materially from thesestatements.

Forward-looking statements may be influenced in particular by factors such as the ability to obtain all required regulatory approvals on atimely basis or at all, exploration for mineral resources and reserves, difficulty in converting geological resources into mineral reserves, andchanges in economic, political and regulatory conditions. We caution that the foregoing list is not exhaustive. When relying on forward-looking statements to make decisions, investors should carefully consider these factors as well as other uncertainties and events.

MMX does not undertake to update our forward-looking statements unless required by law. This presentation is neither an offer to sell(which can only be made pursuant to definitive offering documents) nor a solicitation of an offer to buy any securities in the United States,or any other jurisdiction. The securities referred to herein have not been registered in any jurisdiction, and in particular, will not be registeredunder the U.S. Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the UnitedStates absent registration or an applicable exemption from such registration requirements.

This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in partwithout MMX’s prior written consent.

Investor Relations

Roger Downey – CEO & IRO

Matheus Rosa – IR Manager

Rafaela Gunzburger – Analyst

Tel. + 55 21 2555-6197/ 6338

ri@mmx.com.br

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Seaborne Iron Ore Supply/Demand

DEMAND

• Seaborne market already at record levels. September is now very near the peak levels of June 2008.• Iron Ore Markets are tight and should be even tighter in 2010 and 2011.• Shipments-to-capacity could reach ~ 98%.

Source: Credit Suisse Estimates

SUPPLY

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Chinese local iron ore production has been replaced by imports. It represented 75% of the total imported volume in Nov/2009.

Source: Credit Suisse

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Brazil´s iron ore exports in march 2010 grew 24% on a year-over-year basis. China represented 50% of iron ore exports.

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35

40

Brazil´s Iron Ore exported volume

( million tons)

China World

Source: Credit Suisse

0

5

10

15

20

25

30

Jan-06 Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10

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Iron ore prices are expected to remainabove US$ 100/ton through 2012

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Crude Steel Production

1600

2000

Crude Steel Production(million tons)

• Chinese crude steel production has rebounded and is forecast to grow at least 6.0 (CAGR).• The world crude steel output is expected to recover back to pre-crisis levels by 2010.

0

400

800

1200

1600

China Others World

CAGR China 6.0%aa

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Miners drastically pushed back investments

Investments(US$ billion)

100

90

80

70

110

Planned

Approximately

50

60

40

30

20

10

01992 1994 1996 1998 2000 2002 2004 2006 2008 2010e 2012e 2014e

Estimated

ApproximatelyUS$ 200bn in capexreduction

Source: Credit Suisse

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Since IPO (July’06), a lot has been delivered…

• Wisco’s Investment in MMX and Iron Ore offtake from MMX Sudeste;

• Sale of Corumba’s pig iron facility to Vetorial;

• MoU with Wuhan: supply of iron ore and sale of stake in MMX;

• Minera MMX de Chile: acquisition of mining rights and logistics already identified;

• Development of MMX Sudeste System: acquisition of assets, logistics

May2010

• Development of MMX Sudeste System: acquisition of assets, logistics secured and expansion plans to 33.7 million tons per year of iron ore;

• Sale of assets to Anglo American: MMX Minas-Rio and MMX Amapá;

• Spin off of LLX;

• Partnership with Anglo American and Cleveland Cliffs;

• MMX Corumbá pig iron furnaces: implemented in 12 months;

• MMX Corumbá iron ore mine: operational in 8 months;

• MMX Amapá System, mine, railroad and port: operational in a 14-month record time;.

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July2006

MMX structure

Controlling Shareholders

43.55%

Free Float

34.93%

21.52%

Bom Sucesso under basic engineering studies

Corumbá System started-up in 2005 (Mining)

Assets acquired by MMX (AVG: dec-07; Minerminas: jan-08)

30% EBX Brasil S/A

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MMX uniqueness:

High quality iron ore;

Low cash cost, due to the high in situ ore content and high productivity;

Secured logistics, through long-term

The only one of its kind

Secured logistics, through long-term agreements with rail, barges and port services providers, including LLX Sudeste Port, its sister company;

The unique independent operating Brazilian junior mining company;

Experienced Management in selecting high value mining assets, implementing and operating mining projects;

Proven ability in delivering value to shareholders.

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MMX Sudeste System: competitive high-grade iron ore producer with efficient logistics

Bom Sucesso Tenement:A promissing world class resource

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MMX Sudeste System: competitive high-grade iron ore producer with efficient logistics

MRS has potential for ~ 300 million tons/year16

Environmental and ConstructionLicenses obtained;

MMX Sudeste System: competitive high-grade iron ore producer with efficient logistics

Licenses obtained;

Long term financing undernegotiation;

50 million ton/year of iron oreCan be expanded to 100 millionton;

Start-up second half 2011.

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Serra AzulOverview

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Serra Azul8.7 Mtpy of capacity reached in Oct’08

• Assets acquisition concluded in Jan./2008;

• Construction of Magnetic Concentration Plant and operational enhancements: 8.7 million tons as annual installed production capacity in Oct./2008.

OPERATIONS

• Railway capacity secured through long-term agreement with MRS up to 15 Mtpy;

• Port capacity from mid-2011 untill 2032 secured through long-term agreement with

SALES & LOGISTICS

long-term agreement with LLX Sudeste Port;

• Long-term agreements with domestic and international customers;

• Wysco will off-take at least 50% of MMX Sudeste production.

Magnetic Concentration Plant – Start-up Oct./2008 19

MMX Sudeste System: Growth and proximity to existing infrastructure

MMX is the natural consolidator in the region 20

Bom Sucesso: Outstanding magnetite content and logistics

Expected Quality:

Fe: 67.2% P: 0.033%

SiO2: 2.5% PPC: 0.6%

AL2O3: 0.5% FeO: 8.8%

• Acquisition of mining rights concluded in July/2008;

• Unique magnetite content (close to 30%);

• The closest iron ore asset to Sepetiba Bay – 240km;

• Greenfield basic engineering studies and environmental licensing under development;

• Rail capacity under negotiation with MRS to extend current contract for additional 17 mt up to 2032. 21

MMX Sudeste: Connected to Sudeste Super Port by MRS

22MMX also has rights to use the Açu Super Port

MMX Sudeste Export target of 32 million tons per year through Sudeste Super Port

Sudeste Super Port can be expanded to 100 million tons per year

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Iron Ore in Chile: Quality, logistics and competitiveness

• 4 mining rights (2 purchase and options agreements);

• USD 44.5 million;

• 50km from the Chilean coast, approx. 1,760 hectares;

Preliminary tests in Ouro Preto pilot plant:

Fe: 67.50% SiO2: 2.5%

Al2O3: 0.85% P: 0.015%

• Pellet feed with high magnetite content;

• Existing railroad (FERRONOR).

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Logistics: Puerto Punta Cachos

• EBX has 240,000 ha property in the Atacama region;

• Permits to develop the urban, industrial and port zones;

• Water availability with permits;

• Guaranteed site contract for:

• 89 ha of premium area (port);

• 782 ha of retro-area;

• Unlimited scalability for a long-term development;

• Located close to mining players;

• Opportunities for industrial businesses:

• Port / Thermo.

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• Unique high quality lump yield;

• Current Capacity: 2.1 Mtpy.

• MMX has Long Term Supply Agreement with traditional steel makers in South America and Europe;

• Transport barges down the Paraguay River to Rosario Port;

MMX Corumbá Mineração

• MMX has long-term contracts with local and international barge operators;

• Rosario Port in Argentina: Handymaxvessels to Europe;

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I r o n o r e volumes estimates by System

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Closing of the deal with Wisco

Equity investment in

MMX

Wisco acquired newly issued common shares of MMX;

Total subscription of US$ 400 million;

Equity participation in MMX of 21.52%;

Iron Ore offtake

by Wisco

Offtake by WISCO of at least 50% of the iron ore from Serra Azul Mines;

Possibility to extend the offtake to at least 50% from Bom Sucesso Mines;

Steel Plant at Açu

Super Port

Cooperation Agreement between EBX and WISCO for the construction of an integrated steel plant at LLX’s Açu Super Port;

21.52%;

Proceeds will be fully directed to the development of SudesteSystem;

MMX shares issued at a per-share price in reais1 equivalent to US$3.93;

MMX issued 167,849,906 common shares and minority shareholders were granted preemptive rights in the share issue at a rate of 0.55.

MMX raised US$650M.

Sucesso Mines;

Combined exports of at least 16 millions tons per year of iron ore from MMX Sudeste System, once it is fully ramped-up;

The Iron Ore Purchase and Sale Contract shall be valid for 20 years as from April 1st, 2010.

WISCO will hold 70% and EBX (directly or through affiliates) will hold 30% of the joint venture;

The minimum annual capacity of the steel plant will not be less than 5 million tons, with the possibility of increasing significantly;

Funding can be raised from China Development Bank, Brazilian National Development Bank (BNDES) and through capital markets transactions

EBX and WISCO will seek to obtain all necessary approvals for construction before May 31, 2010.

1 - at the date of the Meeting of the Board of Directors that will approve the new issue of shares 31

• The Chinese Wuhan Iron and Steel Corporation (WISCO)

was created in 1955;

• WISCO is the first giant iron and steel complex established

after the founding of the People’s Republic of China;

• WISCO has an annual production capacity of 31 million

tons, ranking the third in China and the 7th largest steel

Wisco

Wuhan Iron and Steel

tons, ranking the third in China and the 7th largest steel

producer in the world;

• WISCO plans to expand its steel production capacity to 50

million tons per year, what would require a supply of

approximately 80 million tons per year of iron ore;

• The CEO of Wuhan happens to be also the President of CISA

(China Iron and Steel Association);

• WISCO is making great efforts to enter into the rank of the

500 top enterprises in the world and become an important

automobile sheets producer in China by 2010. 32

THANK YOUTHANK YOU

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