credit suisse midsummer latam conference

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Corporate PresentationCorporate Presentation

080723

2

Disclaimer

The material that follows is a presentation of general background information about MPX Energia S.A. and its subsidiaries (collectively, “MPX” or the “Company”) as of

the date of the presentation. It is information in summary form and does not purport to be complete. No representation or warranty, express or implied, is made

concerning, and no reliance should be placed on, the accuracy, fairness, or completeness of this information.

This presentation may contain certain forward-looking statements and information relating to MPX that reflect the current views and/or expectations of the Company

and its management with respect to its performance, business and future events. Forward-looking statements include, without limitation, any statement that may

predict, forecast, indicate or imply future results, performance or achievements, and may contain words like “may”, “plan”, “believe”, “anticipate”, “expect”, “envisages”,

“will likely result”, or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you

that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this

presentation. In no event, neither the Company, any of its affiliates, directors, officers, agents or employees nor any of the placement agents shall be liable before any

third party (including investors) for any investment or business decision made or action taken in reliance on the information and statements contained in this

presentation or for any consequential, special or similar damages.

This presentation does not constitute an offer, or invitation, or solicitation of an offer, to subscribe for or purchase any securities. Neither this presentation nor anything

contained herein shall form the basis of any contract or commitment whatsoever. Recipients of this presentation are not to construe the contents of this summary as

legal, tax or investment advice and recipients should consult their own advisors in this regard.

The market and competitive position data, including market forecasts, used throughout this presentation were obtained from internal surveys, market research, publicly

available information and industry publications. Although we have no reason to believe that any of this information or these reports are inaccurate in any material

respect, we have not independently verified the competitive position, market share, market size, market growth or other data provided by third parties or by industry or

other publications. MPX, the placement agents and the underwriters do not make any representation as to the accuracy of such information.

This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in part without MPX’s prior written

consent.

3

EBX Group OverviewEBX Group Overview

4

EBX Group Overview

All companies are listed in BOVESPA´s Novo Mercado segment, totaling a market capitalization of US$ 26 Bi*.

Core Business: Oil & Gas

Market Cap: US$14.7 bi*

Controlling Shareholder:

61%

*Source: Broadcast as of July, 23rd 2008

**Including Iron X Market Cap.

Market Cap**:US$8.1 bi*

Market Cap**:US$8.1 bi*

Core Business: Logistics


57%

Core Business: Mining


67%

Core Business: Power Generation

Market Cap: US$ 3.2 bi*


76%

5

MPX OverviewMPX Overview

6�49% Eletronorte

MPX Ownership Structure

AmapariEnergia

MPX Sul Porto do Açu Pecém I Energy Trading Co

Castilla Seival MinePorto de Itaqui

51.0% 100.0% 100.0% 50.0% 100.0%100.0% 70.0%100.0%

�30% Copelmi�50% EDP

Power GenerationPower Generation Coal SupplyCoal SupplyPower MarketingPower Marketing

ControllingShareholder

Free Float

75.9% 24.1%

Pecém II

100.0%

MPX has 3 business units that will operate coordinately in order to maximize MPX returns…

… and unique assets and strategic partnerships that will enhance their operations

MPX Colombia

100.0%

Market CapitalizationUS$ 3.2 billion

(as of July 23, 2008)

7

Investment OpportunityInvestment Opportunity

8

Investment Considerations

� Brazil and Chile need urgently to increase installed capacity for electric energy

generation

� Delays in environmental licensing, lack of feasibility studies for new hydro

projects and constraints in the supply of natural gas make coal-fired power

plants the most efficient alternative in the short and medium term

� Strategic geographic location with integrated port logistics and access to

transmission lines

� Integrated coal mines provide a reliable supply of coal at a fixed price to free

market contracts and allow for additional gains in coal trading to supply

regulated market contracts

� Competitiveness in the Free Market enhanced by shared self-production concept

with the option to contract capacity

9

BRAZILEnergy Market Overview &

MPX Portfolio

BRAZILEnergy Market Overview &

MPX Portfolio

10

Recent spot prices indicate need for new capacity

Rationing in 2001: consumptiondeclined to 1998 levels.

� Short-term situation aggravated by structural deficit.

� ENA in the month of January 2008 was the 2nd worstin the data series ��average spot price close to the ceiling price

History – Southeast (~ 60% of the Brazilian market)

Rationing result: structural energy surplus (decline inconsumption + Thermoelectric Plant Priority Program(PPT)), combined with subsequent favorable hydrologicalperiods →→→→ low spot prices.

GW

avg

Spot price LoadENA(Hydropower)

EAR(Stored Energy)

11

Coal plants are the most efficient alternative in the short/medium terms

Limited availabilityBiomass

Commodity priceLNG

Politically challenging

Nuclear waste disposalNuclear

Limited availability

High cost – need for subsidiesWind and Solar

Short and medium term availabilityNatural Gas

Infrastructure (ports)Imported Coal

CAPEXDomestic Coal

Environmental licensing

Lack of feasibility studies for new projectsHydro

New generation projects’ alternatives – Implementation challenges

12

In the long run, competitiveness of natural gas should increase

2nd phase of Açu project can potentially be based on natural gas

PortoPortoAAççuu 32

0km

130km

400km

13

Forecasted Supply/Demand balance (avg. MW)

MPX projects will tap into energy supply shortage in the near future…

Hydro Thermal Proinfa Demand

Source: PSR and Research reports.Note: Projections already include future approved projects.

20

04

20

05

20

06

20

07

20

08

20

09

20

10

20

11

20

12

20

13

20

14

20

15

80,000

70,000

60,000

50,000

40,000

30,000

20,000

Average annualdemand growth

~ 3.5 GW

MPX Generation Ramp-Up

1.12.2

5.06.3

7.4

8.59.6

1.80.8

4.5

5.86.9

8.0

9.1

201520142011 20132012 2016 2017

Total Capacity (GW)

Pecém (Coal) Açu Plant (Coal)

Pecém (Coal)

UTE Seival II(Coal)

Açu Plant (Natural Gas)

Itaqui(Coal)

Castilla I and II (Coal)

Itaqui (Coal)PCH Capivara

(Hydro)

Baixo Iguaçu(Hydro)

MPX Capacity (GW)

MPX (MW)

Coal 5,540

Hydro 260

Diesel 12

5,812

MPX (MW)

Natural gas 3,300

3,300

14

And will allow the company to profit from increasing energy prices

218.87218.43164.16128.1588.60North

212.00219.75161.38133.4890.44Northeast

261.05230.61176.91142.1086.88South

267.55240.55178.14141.3276.47Southeast/Midwest

20122011201020092008SUBSYSTEM

Base Case Scenario – Expected Marginal Operating Costs (R$ / MWh)

70

110

150

190

230

270

2008 2009 2010 2011 2012

Southeast/Midwest

South

Northeast

North

R$ / M

Wh

Source: ONS – National System Operator

MPX will have about

2,600 GWh in energy

available for sale in the

spot market in 2011*

* From Itaqui and Pecem plants

15

By 2017, MPX will be a leading energy producer in Brazil and Chile

Size (MW) MPX (MW)

Coal 5,900 5,540

Natural Gas 3,300 3,300

Hydro 380 260

Diesel 23 12

9,603 9,112¹

UTE Porto de Itaqui (Maranhão)(360 MW + 360 MW)

UTE Porto do Pecém (Ceará)(720 MW + 360 MW)

UTE Porto do Açu (Rio de Janeiro)(2,100 MW + 3,300 MW)UTE Castilla (Chile)

(1,400 MW)

UTE MPX Sul(Rio Grande do Sul)(600 MW)

UHE Baixo Iguacu (Paraná)(350 MW)

UTE Serra do Navio (Amapá)(23 MW)

PCH Capivara (Amapá)(30 MW)

¹ Already considering 100% of UTE Açu and UTE Castilla, according to the relevant fact released on February 20, 2008

Coal Mines Colombia

Seival Coal Mine(Rio Grande do Sul)

16

Itaqui Thermal Plant: Project Overview

Phase I:

Capacity: 360 MW

EPC Contract signed: US$ 503.5 million

Environmental Process: Installation License shall be jointly

granted by State Authority and IBAMA before Oct 2008

CAPEX: US$ 698 million

Bridge loan contracts of US$ 160 million

Eligibility for BNDES and IDB financing secured

Start Up: Aug 2011

Phase II:

Capacity: 360 MW


Start Up: 2014

This phase will be subject to market conditions

Location:

Shareholders:

Fuel:

Submarket:

Itaqui Port, State of Maranhão

100%

Coal (imported)

North

UTE Porto de Itaqui

315 MW sold in the October 2007 auction A-5

Full pass-through of fuel costs to energy prices

Annual Fixed Revenue of R$ 231,3 million 1 (escalated by IPCA2)

1. As of June 2008 2. Consumer Price Index

17

Pecém Thermal Plant: Project Overview

Phase I:

Capacity: 720 MW

Environmental Process: Installation License issued –

construction under way

EPC Contract signed: US$ 935.9 million

CAPEX: US$ 1.22 billion


Eligibility for BNDES and IDB financing secured

Start Up: May 2011 (360 MW) + Nov 2011 (360 MW)

Phase II:

Capacity: 360 MW

Environmental Process: Preliminary License issued

MoU EPC to be signed before A-5 auction (Aug 2008)


Start Up: 2013

Full capacity registered for A-5 auction, scheduled for late

August 2008

Location:

Shareholders:

Fuel:

Submarket:

Pecém Port, State of Ceará

50%

Coal (imported)

Northeast615 MW sold in the October 2007 auction A-5

Full pass-through of fuel costs to energy prices

Annual Fixed Revenue of R$ 437,5 million 2 (escalated by IPCA3)

50%

UTE Porto do Pecém

1. As of June 2008 2. Consumer Price Index

18

Açu Thermal Plant: Project Overview

Phase I:

Capacity: 2,100 MW

Environmental Process: Preliminary License issued

MoU EPC to be signed in early Aug

CAPEX: US$ 4.1 billion


Firm commitment: US$ 1 billion (Santander + Unibanco)

Start Up: Jul 2012 (700 MW) + Jan 2013 (700 MW) + Jul 2013

(700MW)

Phase II:

Capacity: 3,300 MW

Start Up: 2015-2017


Location:

Shareholders:

Fuel:

Submarket:

Açu Port, State of Rio de Janeiro

100%

Phase I - Coal (imported)

Southeast

UTE Porto do Pecém

Phase II – Natural gas

Future StrategicPartner

Credit Suisse mandated to find strategic partner

Participation in A-5 auction

Energy sales to Free Market within the self-production concept, with option to contract capacity – Negotiations under way

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Energy produced by Açu will be sold in both Regulated and Free Markets

Commercialization Structure

Leasing

Services(O&M, coal,management,etc.)

MPXEnergy Trading

Module 2 Module 1 Module 3

A-5 Auction

Regulated Market

CCEAR

MarketingServices

$MW

IPP Authorization used for self production

Independent Production / Self-Production Consortium

$ $

MPX Service Provider

$MW $MW

MPX PIEAuthorization for Independent Production

Leasing

IPP Authorization used for self production

Independent Production / Self-Production Consortium

Services(O&M, coal,management,etc.)

MPXEnergy Trading

MarketingServices$ $

MPX Service Provider

MPX PIEAuthorization for Independent Production

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Competitiveness in Free Market was enhanced by shared self-production concept with the option to contract capacity

CoalSupply

UTEPorto do Açu

Availableaverage MW

Self-Producer’sQuota

Q1

Q2

Plant’sOperations

Management of Energy Requirements

Quotas of each offtakerQuotasself-producer 1

Quotasself-producer 2

Quotasself-producer N

FreeConsumersOR

Capacity Pmt

(fixed)

+

Variable cost

(if dispatched)Qn

Q3

Quotasself-producer 3

21

Other Projects

UHE Baixo Iguaçu (350 MW)

• Hydro plant

• Location: State of Paraná

• Start-up: 2013

UTE MPX Sul (600 MW)

• Coal Thermal Plant (Brazilian coal)

• Location: State of Rio Grande do Sul

• Start-up: 2014

In commercial operation

Under development

UTE Serra do Navio (23 MW)

• Diesel Thermal Plant

• Location: State of Amapá

• Start-up: June 2008

PCH Capivara – (30 MW)

• Small Hydro Plant

• Location: State of Amapá

• Start-up: 2011

22

CHILEEnergy Market Overview &

MPX Portfolio

CHILEEnergy Market Overview &

MPX Portfolio

23

-

10.000

20.000

30.000

40.000

50.000

60.000

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

-

1.000

2.000

3.000

4.000

5.000

6.000

7.000

8.000

9.000

10.000

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

Sales and Capacity EvolutionSales and Capacity EvolutionSales and Capacity Evolution

Monomic Free and Node Price Evolution and EstimatesMonomicMonomic Free and Node Price Evolution and EstimatesFree and Node Price Evolution and Estimates

Installed Capacity (MW) Total Sales (GWh)

Source: CNE

Energy prices increased significantly after mid 2007 gas shortage…

CAGR: 6,9%

CAGR (95-07): 6,8%

CAGR (08-12): 6,1%

Node Price

Free Price

• Node and free prices increased

considerably after the Argentine gas

shortage in mid 2007, as the generation

companies and industries were forced

to use diesel as a replacement fuel.

• Projected increase in installed capacity

respond to replacement of current

diesel generation as well as expected

increases in demand.

• Increases in sales are highly correlated to

GDP long term growth and per capita

energy consumption expansions.

Argentine gas shortage

24

6.000

9.000

12.000

15.000

18.000

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Expected Capacity

Required Capacity

Forecasted Supply/Demand Balance (MW)

And energy demand is increasing faster than supply

Source: Santander, CNENote: Projections include only mayor projects such as LNG plants and Hydroayèn

Source: CNE.

Expected Sales (Th. GWh)

0

5.000

10.000

15.000

20.000

25.000

30.000

35.000

40.000

45.000

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Free Clients Regulated Clients

6.4%

5.5%

� Strong growth in industrial clients energy demand (mining companies) as well as power auctions of distributors from 2012 onward (regulated clients) secures significant opportunities in the SIC for the next decade

� Reduced availability of potential hydropower development (only one large project)

� Development of two LNG generation terminals with public and private support will add up almost 1.000 MW by 2011

� Nuclear energy alternative is now on the agenda but the decision to develop potential projects has been postponed (earliest estimates at least 2020)

Supply / Demand Gap

Despite hydro and LNG projects, the only alternative to cover the gap between a growing demand and a stagnated supply and to reduce exposure to diesel projects is to increase coal generation

25

Breakdown of Energy consumption in Chile per grid (2007)

Aysén 0,2%

SING 25%

SIC 75%

Magallanes

0,4%

Castilla Thermal Plant project is located in Chile’s most important electric grid and close to strategic free clients

Located in the most relevant Electric Grid (SIC) in Chile

Location as a competitive advantage

The Castilla plant is located in the Central Interconnected

Grid (SIC), which represents:

� 75% of the country’s total energy consumption

� 87% of Chile’s GDP

� 92% of the country’s population

The power plant is located in Region III, where most big mining clients as well as other free clients are based

The main advantages of being close to free clients are:

� Demand of mining companies operating nearby

� Lower transmission costs

� Proximity is an important factor to negotiate energy at good conditions

Castilla has unique port location facilitates, enabling the

project to import coal from Australia, Indonesia or

Colombia

Absence of population centers or conservation areas nearby should facilitate environmental licensing

HaciendaCastilla

HaciendaCastilla

A R

G E

N T

I N

A

Source: CNE

26

Castilla Power Plant: Project Overview

Phase I:

Capacity: 700 MW

Project site acquired: Hacienda Castilla

EPC Contract: Expected to be signed in 2H08

Environmental Process: To be concluded in 1H09

CAPEX: US$ 1.7 Billion

Start Up: Jul 2012

Phase II:

Capacity: 700 MW

Environmental Process: Started in September 07

CAPEX: US$ 1.1 Billion

Start Up: 2014


Location:

Shareholders:

Fuel:

Submarket:

Castilla Estate, in Chile’s Region III

100%

Coal (imported and a possible blend with domestic)

Central Interconnected Grid (SIC)

Future StrategicPartner

UTE CastillaRegion III - Atacama

Capital: Copiapó

Santander mandated to find strategic partner

27

Coal SupplyCoal Supply

28

0

2

4

6

8

10

12

14

2008 2009 2010 2011 2012 2013 2014 2015

MPX has made significant progress to secure coal supply to its plants

Studies and definition oflogistics alternatives

“Full Capacity”*12 Mtpy coal production

Cerrejon andCesar

DepartmentsExploration–

AUG/2008

On GoingExplorations

including possibilityof new acquisitions –

2009/2010

Colombianmines

productionstart-up

1.5

4.0

10.0

12.0 12.0

Colombian properties already acquired

Coal ProductionTon (MM)

New acquisitions * Not including Seival Mine

Coal Production Expected Ramp-up

29

Drilling in Colombia has started and should be concluded by year end

El Paso: Priority Drilling Plan

� Start drilling in the GEH-121 concession area

� Drilling plan: 75 holes

(32 expected to be concluded by end of Aug 2008)

� Average drilling speed: 8,000 meters/month

� 5 drilling machines

Cerrejon: Priority Drilling Plan

� Start drilling in the HGS-13332, HI1-08311 andHKK-09341 concession areas

� Drilling plan: 143 holes

(32 expected to be concluded by end of Aug 2008)

� Average drilling speed: 8,000 meters/month

� 5 drilling machines

30

Brisas Port Project

Cienaga Port Project

Colombia

Santa Marta Port

Barranquilla Port

Cerrejon Sur Sur

50 thousand ha

Cerrejon South

Cerrejon Central

Cerrejon North

FenocoRailway

El Paso8 thousand ha

La Jagua

La LomaPribbenowDrummond

Calenturitas

La Francia

MagdalenaRiver

Port Bolivar

Logistics alternatives are currently under analysis…

31

And include roads, river and railroads and also dedicated ships

Substantial coal mining activity for at least past 15 years. Infrastructure quite well developed -includes roads, river and railroad.

Roads:

� High capacity, high-load rated paved highways, capable of handling substantial semi-tractor trailer truck traffic at speeds of up to 100 km/hour depending on local road and traffic conditions

Railway:

� Odebrecht and Camargo Correa are developing the Carare railroad with the suport of Colombian Government. BNDES has announced in mid-July a US$650MM financing line to fund this project

� Expansion of FENOCO railway under construction, but capacity would have to be purchased from another coal company

River:

� Madalena River is capable of handling barges of up to 3,000 tons

� Coal transported from mines via railroad or truck and barged down the river to the Ports of Barranquilla or Cienaga

Coal shall be loaded onto dedicated Post-Panamax or Capesize ships to be transported to Brazil

Cerrejón

Carare Railway

FenocoRailway

MagdalenaRiver

Barranquilla Port(Project)

Cienaga Port(Project)

Sta. Marta Port

Brisas Port(Project)

San Antero Port (Project)

El Paso

Cerrejón

Carare Railway

FenocoRailway

MagdalenaRiver

Barranquilla Port(Project)

Cienaga Port(Project)

Sta. Marta Port

Brisas Port(Project)

San Antero Port (Project)

El Paso

32

MPX’s goal is to reach a total production of 12MMty so as to capture additional gains in coal trading

First production to be dedicated to free market plants

Eliminate commodity risk

Secure upside to the plants with pass through mechanism

-

2

4

6

8

10

12

14

16

18

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Million tons

Free Market

Chile

Regulated Market

Seival

* Figures for 80% average dispatch

Passthrough

mechanisms

33

Renewable Energy &Environmental Responsibility

Renewable Energy &Environmental Responsibility

34

MPX is also working on the development of renewable energy projects

…and has invested significantly in environmental preservation initiatives

� RPPNs: 70 thousand hectares nominated as world natural heritage site by UNESCO

� Bioatlantica: Rainforest conservation

� Botanic Garden in Ceará (partnership with Rio de Janeiro’s Botanic Garden): increasing from 20 to 100 hectares

� Algaes: partnership with Ceará university and Haifa University (Israel)

Preservation Initiatives

� New projects in São João da Barra (Rio de Janeiro): where UTE Porto do Açu is located

Recovery of Degraded Areas

� Solar energy projects: MoU with CearáGovernment

� Wind power projects: Rio de Janeiro (110MW)

� Biomass (elephant grass)

Renewable Energy

Serra do Amolar: Natural Heritage by UNESCO

35

Milestones RoadmapMilestones Roadmap

36

Updated Milestones Roadmap

Notes:LNTP – Limited Notice to Proceed; EPC – Engineering, Procurement and Construction; MOU – Memorandum of Understanding; PPA – Power Purchase Agreement

1H081H08 2H082H08 1H091H09

UTE Porto do Açu (2.100 MW): Environmental Impact Study

filing

UTE Porto de Itaqui:

Installation License

1st phase UTE Porto do Açu: Preliminary License

( 2,100 MW)

1st phase UTE Porto do Açu: Installation License

( 2,100 MW)

UTE Seival II: Preliminary License

UTE Seival II: Installation License

UTE Castilla: Installation License

UTE Porto de Itaqui: Environmental Impact Study

filing

UTE Castilla: financing Term Sheet

UTE Castilla: Long term financing contract

UTE Porto do Pecém: Bridge

loan

UTE Porto do Pecém: Long term financing contract

UTE Porto do Açu: Long term financing contract

UTE Porto de Itaqui: Long term financing contract

UTE Porto de Itaqui: Bridge loan

UTE Castilla: EPC contract signature

2nd phase UTE Porto do Pecém: MOU for EPC 2nd phase UTE Porto do

Pecém: EPC contract signature

UTEs Porto de Itaqui and Pecém: EPC contract

signature

Porto de Itaqui and Pecém: NTP for EPC and down

payment long lead items

UTE Porto do Açu:

MOU for EPC UTE Porto do Açu: EPC contract signature

UTE Porto do Açu: LNTP for EPC and down payment long

lead items

UTE Seival II: EPC contract

signature

UTE Porto do Açu: Eligibility for BNDES long term financing

Coal mine acquistion in the

international market

UTE Castilla: Letter of intents

for PPA

UTE Castilla: PPAs signature

1st phase UTE Porto do Açu: PPAs signature

Legend:

Environmental Licensing

Funding

Engineering and Construction (EPC)

Power Marketing and Coal Supply

Accomplished Events

Additional Events

UTE Porto do Açu and Castilla30% stake transference from

Centennial to MPX

Solar Energy: Yinglipartnership

UTE Seival II: LNTP for EPC and down payment long lead items

2nd phase UTE Porto do Pecém: LNTP for EPC and down payment

long lead items

2nd phase UTE Porto do

Pecém: Preliminary License

UTE Porto do Açu: strategic partner selection

UTEs Porto do Açu e Castilla: Bridge loan

UTE Seival II: MOU for PPAs

R&D- Solar energy: Site identification and Basic

design

UTE Castilla: strategic partner selection

Participation in the A-5 auction for new energy

UTE Castilla:

MOU for EPC

UTE Castilla: LNTP for EPC (down payment for long lead

items)


1st phase UTE Porto do Açu: MOU for PPAs

ANEEL’s approval to the structure of the Açu project

37

Previous Milestones Roadmap

Notes:NTP – Notice to Proceed; EPC – Engineering, Procurement and Construction; MOU – Memorandum of Understanding; PPA – Power Purchase Agreement

1H081H08 2H082H08 1Q091Q09

UTE Porto do Açu (2.100 MW): Environmental Impact Study

filing

UTE Porto de Itaqui:

Installation License

1st phase UTE Porto do Açu: Preliminary License

( 2,100 MW)

1st phase UTE Porto do Açu: Installation License

( 2,100 MW)

UTE Seival II: Preliminary License

UTE Seival II: Installation License

UTE Castilla: Installation License

UTE Porto de Itaqui: Environmental Impact Study

filing

UTE Castilla: financing Term Sheet

UTE Castilla: Long term financing contract

UTE Porto do Pecém: Bridge

loan

UTE Porto do Pecém: Long term financing contract

UTE Porto do Açu: Long term financing contract

UTE Porto de Itaqui: Long term financing contract

UTE Porto de Itaqui: Bridge loan

UTE Castilla: EPC contract signature

2nd phase UTE Porto do Pecém: MOU for EPC

2nd phase UTE Porto do Pecém: EPC contract

signature

UTEs Porto de Itaqui and Pecém: EPC contract

signature

Porto de Itaqui and Pecém: NTP for EPC and down

payment long lead items

UTE Porto do Açu:

MOU for EPC

UTE Porto do Açu: EPC contract signature

UTE Porto do Açu: NTP for EPC and down payment long

lead items

UTE Seival II: EPC contract

signature

UTE Porto do Açu: Eligibility for BNDES long term financing

Coal mine acquistion in the

international market

UTE Castilla: Letter of intents

for PPA UTE Castilla: PPAs signature



Legend:

Environmental Licensing

Funding

Engineering and Construction (EPC)

Power Marketing and Coal Supply

Accomplished Events

Additional Events

UTE Porto do Açu and Castilla30% stake transference from

Centennial to MPX

Solar Energy: Yinglipartnership

UTE Seival II: NTP for EPC and down payment long lead

items

2nd phase UTE Porto do Pecém: NTP for EPC and down payment

long lead items

2nd phase UTE Porto do

Pecém: Preliminary License

UTE Porto do Açu: strategic partner selection

UTEs Porto do Açu e Castilla: Bridge loan

UTE Seival II: MOU for PPAs

R&D- Solar energy: Site identification and Basic

design

UTE Castilla: strategic partner selection

Participation in the A-5 auction for new energy

UTE Castilla:

MOU for EPC

UTE Castilla: “Limited NTP”for EPC (down payment for

long lead items)



ANEEL’s approval to the structure of the Açu project

38

� Long term PPAs

� Supply & demand imbalance

� Unregulated markets willing to secure long term energy supply

� Competitiveness in free market enhanced by:

� Shared self-production

� Option to contract capacity

� Integrated coal supply

Main Risks and Mitigants

Significant Execution Risk

Mitigants

� EBX track record

� Highest environmental standards

� “Clean Coal Technology”

� World Bank / Equator principles

� Top notch legal and environmental teams

Environmental Permits Secured Fuel Supply

� Seival + Colombian mines

� Other possible agreements

� Colombia

� Australia

� Africa

� Backhaul from iron ore exports

Secured Debt FinancingEnergy Placement

Currency, Commodity, Interest Rates Risks

Construction Management

� Pecém and Termomaranhão secured

� Porto do Açu: US$1bn firm commitment

� Castilla: US$ 500mm firm commitment

� BNDES support for infrastructure

� MLAs/ECAs funding for infrastructure projects

� EPC lump sum and turn key

� Proven technology, widely used

� EBX track record (Termoceará)

� Management expertise

� Pass-through of fuel costs in the Brazilian regulated and Chilean free markets

� Integrated coal supply for free market

� BNDES Debt: subsidized long term interest rates

MPX has addressed all critical elements to develop one of the largest generation portfolios in Brazil and Chile

credit suisse midsummer latam conference

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