September 2009

MMX MMX

The only one of its kindThe only one of its kind

Disclaimer

This presentation relating to MMX Mineração e Metálicos S.A. (“MMX”) includes “forward-looking statements”, as that term is defined in the Private Securities Litigation Reform Act of 1995, in Section 27A of the Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All statements other than statements of historical facts are statements that could be deemed forward-looking statements and are 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 and specific. The risk exists that these statements may not be fulfilled or, even if they are fulfilled, the results or developments described in such statements may not be indicative of results or developments in future periods. We caution participants of this presentation not to place undue reliance on these forward-looking statements as a number of factors could cause future results to differ materially from these statements.

Forward-looking statements may be influenced in particular by factors such as the ability to obtain all required regulatory approvals on a timely basis or at all, exploration for mineral resources and reserves, difficulty in converting geological resources into mineral reserves, and changes 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 registered under the U.S. Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the United States 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 part without MMX’s prior written consent.

Investor Relations

Roger Downey – CEO & IRO

Priscylla Setimi - IR

Tel. 55 21 2555-5558 / 5234

ri@mmx.com.br

An EBX Group Company

EBX´s publicly held companies

All companies are listed in BOVESPA´s Novo Mercado Corporate Governance segment, consolidating a

market capitalization of close to US$ 21.8 Bi*.

Core Business: Logistics

Market Cap:

US$ 1.8 Bi*

Controlling Shareholder:

50.0%

Core Business: Power Generation

Market Cap: US$ 1.2 Bi*

Controlling Shareholder:

76.0%

Core Business: Oil & Gas

Market Cap: US$ 17.3 Bi*

Controlling Shareholder:

61.0%

Core Business: Mining

Market Cap:

US$ 1.3 Bi*

Controlling Shareholder:

63.5%

*Source: Broadcast as of September, 01st 2009; BRL 1,8829/USD (BACEN)

4

Recent Events

MoU among MMX, LLX and Wuhan Steel

Non-exclusive, non-binding MoU with relevant opportunities for MMX and EBX group

6

• Integrated 5 million ton per year steel

plant at Açu Super Port;

• WISCO off-take of MMX Sudesteproduction;

• Restatement of the port services agreement among WISCO, MMX and LLX;

• Acquisition of stake in MMX and MMX Sudeste;

• Supply of steel products by WISCO to OSX (Oil Service S.A. – an EBX GroupCompany)

The Announcement

• Off-take of the entire MMX Sudeste

production at benchmark prices;

• Restatement of the port services

agreement among WISCO, MMX and

LLX; and

• Sale of a stake in MMX (9.09% for

US$ 120 million) and MMX Sudeste

(23% for US$ 280 million) – cash in to

face CAPEX programs.

MMX potential upsides

Who is Wuhan

7

� 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 producer in the world;

� WISCO plans to expand its steel production capacity to 50 million tons per year, what will require a

supply of 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.

Sale of pig iron plant in Corumbá

�Definitive agreement with Vetorial for the sale of the pig iron plant;

� Vetorial will pay R$ 100 million for the Asset: 84% will be paid up front;

� MMX Corumbá Mineração entered into a long term iron supply agreement with Vetorial, in an amount

sufficient to guarantee a production of 400 thousand tons per year of pig iron.

The agreement:

About Vetorial:

� Vetorial Siderurgia Ltda. is dedicated to pig iron production in Mato Grosso do Sul with a total

production capacity of 350 thousand tons per year.

8

A unique story

MMX Sudeste

10

The only one of its kind

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 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.

MMX S.A. is the exclusive vehicle of EBX Group for investments in mining and metals, focusing on the production capacity increase through organic growth and the development of new opportunities.

Corumbá

SystemSudeste

System

MMX de

Chile

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

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

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

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

� Partnership with Anglo American and Cleveland Cliffs;

� Spin off of LLX

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

� Development of MMX Sudeste System: acquisition of assets, logistics secured and expansion

plans to 33.7 million tons per year of iron ore;

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

� MoU with Wuhan: supply of iron ore and sale of stake both in MMX and MMX Sudeste;

� Agreement with Vetorial: sale of Corumba’s pig iron facility.

July 2006

July2009

11

MMX structure

MMX Sudeste

100%

Minera MMX

de Chile

30% Centennial Asset Corumbá

Corumbá System

100%70%

MMX Corumbá

Mineração

MMX Corumbá

Mineração

MMX Metálicos

Corumbá

MMX Metálicos

Corumbá

Bom Sucesso under basic engineering studies

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

100%

100%

Sudeste SystemBom Sucesso

AVGAVG MinerminasMinerminasBom SucessoBom Sucesso

100%

MMX SudesteMMX Sudeste

100%

Free Float

36.5%

Controlling Shareholders

63.5%

Corumbá System started-up in 2005 (Mining) and 2007 (Metallics)

12

Serra Azul & Bom Sucesso

Sudeste System

MMX Sudeste System: high grade iron ore, low cost

and secured logistics

BOM SUCESSO TENEMENT

LLX SUDESTE PORT

� Environmental and Construction licenses

obtained;

� Long term financing under negotiation;

� 50 million ton/year of iron ore can be

expanded to 100 million tons;

� Start-up: second half 2011.

� Consolidation opportunity: mines in Serra Azul

can produce 60-80 million tons/year of iron ore

� Negotiation with MRS to transport 32 million tons/year.

14

MMX Sudeste: Connected to Sudeste Super Port by MRS

15

MMX Sudeste will export 32 million tons per year through

Sudeste Super Port

Sudeste Super Port can be expanded

to 100 million tons per year16

MMX Sudeste System: High Grade Iron Ore, low cost

and secured logistics.

�� Acquisition of the assets concluded in JanAcquisition of the assets concluded in Jan’’08; 08;

�� Construction of Magnetic Concentration Plant Construction of Magnetic Concentration Plant

and operational enhancements: 8.7 and operational enhancements: 8.7 MtpyMtpy as as

annual installed production capacity in Oct, 2008.annual installed production capacity in Oct, 2008.

Serra Azul site: 8.7 Mtpy of capacity reached on Oct’08

�� Railway capacity secured through longRailway capacity secured through long--term term

agreement with MRS up to 15 agreement with MRS up to 15 MtpyMtpy;;

�� Port capacity secured with CSN Terminal de Port capacity secured with CSN Terminal de

CargaCarga de de ItaguaItaguaíí Port: 2 million tons per year, from Port: 2 million tons per year, from

2009 to 2011;2009 to 2011;

�� Port capacity from midPort capacity from mid--2011 2011 untilluntill 2032 secured 2032 secured

through longthrough long--term agreement with LLX term agreement with LLX SudesteSudeste

Port;Port;

�� LongLong--term Offterm Off--take agreements with domestic take agreements with domestic

miners and steel makers;miners and steel makers;

�� Wuhan will be the main offWuhan will be the main off--taker of MMX taker of MMX

SudesteSudeste production.production.

Operations Sales & Logistics

Magnetic Concentration Plant – Start-up Oct 30’0818

Serra Azul overview

Magnetic Concentration Plant

Bom Sucesso: outstanding magnetite content and

logistics

View from the west hillside of the Bom Sucesso mountain ridge

�� Acquisition of mining rights concluded in JulyAcquisition of mining rights concluded in July’’08;08;

�� Unique magnetite content (close to 30%);Unique magnetite content (close to 30%);

�� The closest iron ore asset to the shore The closest iron ore asset to the shore –– 240km (lower rail tariff);240km (lower rail tariff);

�� Greenfield basic engineering studies and environmental licensinGreenfield basic engineering studies and environmental licensing under g under

development;development;

�� Rail capacity under negotiation with MRS to extend current contRail capacity under negotiation with MRS to extend current contract for ract for

additional 17 additional 17 mtmt up to 2032.up to 2032.

Expected Quality:

Fe: 67.2%

SiO2: 2.5%

AL2O3: 0.5%

P: 0.033%

PPC: 0.6%

FeO: 8.8%

Tests

20

MMX Sudeste: aggressive expansion plan to become an international player

Total Capex*

US$ 1,026 MM

Production Capacity

2009 to 2013 Expansion plan built up in 3 phases:

Phase I: the installed annual capacity to

reach 8.7 Mtpy was achieve in Oct’08 upon

the start-up of the Magnetic Concentration

Plant;

Phase II: Serra Azul brownfield expansion up

to 16.3 Mtpy – approx Capex US$360MM

Current under detailed engineering and licensing

studies

Phase III: Bom Sucesso greenfield project,

adding 17.4 Mtpy of high magnetite iron ore –

approx Capex US$640MM

Current under basic engineering studies

*Capex and timeline to be confirmed upon conclusion of detailed engineering studies and analysis of market conditions; average exchange rate R$2.12

PHASE I

CONCLUDED

3.48.7 8.7

18.514.7 16.3

17.417.4

3.4

8.7 8.7

18.5

32.133.7

2008 2009 2010 2011 2012 2013

Bom Sucesso

Serra Azul

PHASE I PHASE II PHASE III

23

146 13073

105

362

168

31

251

492

241

11

2008 2009 2010 2011 2012 21

Chile

Preliminary tests in Ouro Preto pilot plant:

- Fe: 67,50%- SiO2: 2,5%- Al2O3: 0,85%- P: 0,015%

Iron Ore in Chile: quality & logistics

Patrícia

Bella

Fortuna-

Fierro

Teatino

s

50km distant from the Chilean coastapprox 1,760 hectares

Pellet feed with high magnetite content

Existing railroad (FERRONOR)

4 mining rights (2 purchase and options agreements)

USD 44.5 million

23

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

Puerto

Punta Cachos

Logistics: Puerto Punta Cachos

24

Punta Cachos Port: location

Corumbá System

MMX Corumbá Mineração

Production Capacity* 2009 to 2013

*Capex and timeline to be confirmed upon conclusion of detailed engineering

studies and analysis of market conditions

1.62.1

3.2 3.2 3.2

3.1

1.62.1

3.2 3.2

6.3

2008 2009 2010 2011 2012

NE & Rabicho Mine

63 Mine

PHASE I PHASE II PHASE III

Ladário Port

Sales

Logistics

� Transport is made in barges down the Paraguay River up to Rosario

Port: cargo shipment to Europe.

� MMX has long-term contracts with local and international barge

operators;

� Rosario Port in Argentina: Handymax vessels

� MMX has Long Term Supply Agreements – 5 years,

in average - with traditional steel makers in South

America and Europe.

27

Açu Super Port: An alternative to MMX Corumbá

MMX Performance

Source: Bloomberg as per September 8th, 2009.Notes: VWAP is the volume weighted average price for the period indicated (in business days).

MMXM3 share price performance (R$ per share)

9.788.59 8.15 7.93 7.61

Current (9/8/2009)

VWAP 60dVWAP 45dVWAP 20d VWAP 90d

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30

Share Price Performance (R$)

5.364.65 4.40 4.26 4.00

MMXM3 share price performance (US$ per share)

Source: Bloomberg as per September 8th, 2009.Notes: VWAP is the volume weighted average price for the period indicated (in business days).

Current (9/8/2009)

VWAP 60dVWAP 45dVWAP 20d VWAP 90d

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www.mmx.com.br/ri

ri@mmx.com.br

55 21 2555 5558 / 2555 5234 (RI)

Thank you!