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  • 1. LLX Logística S.A.LLX Logística S.A. July, 2008 September, 2008
  • 2. DisclaimerThis presentation relating to LLX Logística S.A. (“LLX”) includes “forward-looking statements”, as that term is defined in the Private SecuritiesLitigation 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. Allstatements other than statements of historical facts are statements that could be deemed forward-looking statements and are oftencharacterized 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-lookingstatements 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 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 andlicenses on a timely basis or at all, and changes in economic, political and regulatory conditions. We caution that the foregoing list is notexhaustive. When relying on forward-looking statements to make decisions, investors should carefully consider these factors as well as otheruncertainties and events.LLX does not undertake to update our forward-looking statements unless required by law. This presentation is neither an offer to sell (whichcan only be made pursuant to definitive offering documents) nor a solicitation of an offer to buy any securities in the United States, or anyother jurisdiction. The securities referred to herein have not been registered in any jurisdiction, and in particular, will not be registered underthe U.S. Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the United Statesabsent 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 LLX’s prior written consent. Investor Relations Ricardo Antunes – CEO Antonio Castello Branco – Manager Tel. 55 21 2555-5661 ri@llx.com.br 2
  • 3. 1. Overview
  • 4. EBX´s publicly held companiesAll companies are listed in BOVESPA´s Novo Mercado Corporate Governancesegment, consolidating a market capitalization of US$ 18.3 Bi*. Core Business: Core Business: Core Business: Core Business: Logistics Mining Oil & Gas Power Generation Market Cap: Market Cap: Market Cap: Market Cap: US$ 764 M* US$ 3.0 bi* US$ 12.5 bi* US$ 1.9 bi* Controlling Controlling Controlling Controlling Shareholder: Shareholder: Shareholder: Shareholder: 57% 67% 61% 76%*Source: Broadcast as of August, 29th 2008 4
  • 5. LLX Corporate Overview after restructuring Controlling Shareholders (1) + Minority Shareholders 57% 43% 51% 70% 70% 70%MMX Minas-Rio LLX Minas-Rio LLX Açu LLX Brasil LLX Sudeste 30% 30% 30% 49% 100% Centennial(1) Eike Batista and Management 5
  • 6. LLX Highlights Ports strategically located in the Southeast Region of Brazil Unique Large back-areas Portfolio Port-Industry Integration Connected to existing Highway and Railway network Deeper depth allows larger vessel to berth, decreasing ocean freightLow Operating Private ports are not subject to public port charges (TUP and OGMO) Costs Higher productivity due to latest generation of port equipments Long Term Enough cargo to anchor LLX´s ports (MoUs already signed) Contracts Back-bone for investments of the EBX´s Companies through long term contracts Logistics Integration is a priority for the Brazilian government Brazilian ports are operating almost at full capacityGrowth Potential Ports are currently a bottleneck for Brazilian exports growth Continuous pipeline of new projects Business Ports business has been developed since 2005 Development “Super Port” Açu under construction 6
  • 7. LLX´s ports strategic locationMixed-use terminal sized to berth carriers up to 220,000 tons (Depth: 18.5m) Location Back-area Main Products Iron Ore from pipelines and Sao Joao third parties railway, steel "Super Port" Açu da Barra, 7,800 ha products, coal, granite, LNG RJ and general cargo. Itaguaí Port Sudeste Industrial 52.1 ha Iron Ore Area, RJ 1,900 ha General Cargo, iron ore, "Super Port" Peruibe, SP (maritime agricultural bulk, liquid bulk structure with Brasil and fertilizers 50 ha) 2% 6% Country GDP 2007 (US$ Billion) Brazil 1,313.590 34% Port Açu Russia 1,289.582 Port Sudeste India 1,098.945 Port Brasil LLXs hinterland area 985.223 Korea 957.053 Australia 908.826 Mexico 893.365 Netherlands 768.704 Turkey 663.419 LLX Port´s hinterland concentrates Sweden 455.319 75% of the Brazilian GDP Belgium 453.636 Source: IMF (2008) 7
  • 8. Favorable Industry Fundamentals Brazil Trade Flow Economic Openness – Trade Flow / GDP 2007 (US$ billion) 3% Economics Openness- Trade Flow 2007 Imports 200 8): 2 002- 76% Exports R (2 70% CAG 67% 174 64% 48% 121 39% 91 33% 74 63 22% 18% 48 198 47 161 73 96 118 138 96 60 73 Brazi l Brazi l Indi a Argenti na Indones i a Mexi co Chi na Chi l e Republ i c 2000 of Korea 2002 2003 2004 2005 2006 2007 2008ESource: SECEX/Ministério do Desenv. Ind e Comercio Exterior (2008) Source: WTO (2008) Infrastructure Underinvestment in Brazil Brazilian Ports’ Capacity Utilization (berth hours utilized / berth hours available) 180 160 97% 93% 91% 140 80% 120 100 80 60 40 20 0 1970 1973 1976 1979 1982 1985 1988 1991 1994 1997 2000 2003 2006 Brazil exports Brazil imports Investments in infrastructure Itajaí São Francisco Rio Grande Santos do SulSource:IPEADATA / BCB e Merril Lynch (2008) Source: Antaq. Investments in ports are needed to meet the growth of Brazil´s foreign trade. 8
  • 9. Experienced Management Team Officer Officer Experience Experience Eike Fuhrken Batista Founder and CEO of EBX, entrepreneurial conglomerate founded in 1983 Chairman and Founder Engineer Degree from PUC-RJ and Master´s degree from the Imperial College in London. Ricardo Antunes 23 years of experience at CVRD Former CEO of Rio Doce International CEO Co-founder of MMX Masters degree in Economics from PUC-RJ and PhD in Finance. Held Yale Universitiy´s certificate in Corporate Governance. Eliane Aleixo Lustosa Government experience at BNDES, Ministry of Finance and as Director of Brazil´s Antitrust Agency. Former VP and CFO of Grupo Abril, Globex and Petrobras Pension Fund (Petros). Chief Financial Officer Current board member of the Brazilian Institute of Corporate Governance (IBGC). Former board member of several public companies (Perdigão, CPFL, Coteminas, Telet, Americel and Tele Norte Celular). Mechanical Engineer (UFES) and MBA in COPPEAD/UFRJ José Salomão 23 years of experience in the design, implementation and operation of port terminals (iron ore, coal, pig iron, fertilizers, agricultural baul, containers and general cargo). Chief Development Officer Held executive positions in Porto de Tubarão, Porto de Praia Mole, TVV, Pasha Terminal – Los Angeles, Docenave and Brasil Ferrovias. Civil Engineer (UGF/RJ) and MBA from FGV/RJ. Project Management (PMI) certificate from Luis Alfredo Osório de Castro FIA/USP. 30 years experience in implementing infrastructure projects (urban projects and port terminals); Chief Implementation Director power plants and industrial facilities at Pronil, OAS and Brascan. 9
  • 10. LLX Ports – Lower Ocean FreightDeeper depth allows larger vessels to berth, decreasing ocean freight. -40% to Solid and Liquid -75% Bulks Using full Panamax (70 m dwt) and Capesize (120 to 180 m dwt) rather than Handymax (40 m dwt ) Containers -20% to Processing Industries, Auto Parts, -40% Food, Pulp and Paper, amoung othes. Using general cargo/container vessels of 8 to 12 thousand TEUs instead of 1.5 thousand to 3 thousand TEUs 10
  • 11. Ports Operations almost at Full Capacity LLX´s port will be an alternative to help debottlenecking the sector in Brazil Iron Ore Terminals: Idle Time Terminals: Reference 15 -20% Index Continuous economic growth in the last years Vale < 2% has shown Brazil’s lack of infrastructure, especially in ports and transportation. Thousand TEU’s/m linear berth TEU’Reference Index Most Brazilian ports are operating above their 1,3 nominal capacity, causing long queues and increased costs for both inbound and Santos Brasil 1,5 outbound cargoes. Back Area: TEU’s/m² Area: TEU’ s/m² The situation is most critical in the country’s southeast region, hampering growth of theReference Index 4,2 burgeoning export of commodities and Vitoria industrial products as well as most needed 7 imports growth.Source: Drewry’s Reports 2007 and Companies reports. 11
  • 12. LLX Milestones Roadmap 2006 2007 2008 2009 2010 2011 2012 Detailing of the Construction LLX Minas Rio Start up project License Environmental ANTAQ License Authorization Construction begins Detailing of the ANTAQ Construction Construction LLX Açu Start up project authorization License begins Environmental License Project begin to Environmental Construction Start up Porto Sudeste be developed License License ANTAQ Authorization Construction begins Project begin to Environmental Construction Start up Porto Brasil be developed License License ANTAQ Authorization Construction begins 12
  • 13. 2. Projects
  • 14. 2A. Port Açu
  • 15. Port Açu Location and Logistic Integration MMX SE45 km of new railway track Port Açu will connect Port Açu to the Brazilian railway system. Port Sudeste 15
  • 16. Port AçuLLX Minas-Rio (Ore) / LLX Açu (non-Ore) LLX Minas-Rio Minas- LLX Açu Aç 7,500 ha of adjacent Onshore Structure industrial complex • 300 ha for Processing, Right to use LLX Minas Rio Handling,Storage and Offshore Structure including the Pelletizing construction of additional berths Offshore Structure /including : • Connecting bridge Access channel for : • Connecting bridge/ Access channel • Coal ( and dry bulk) discharging; • Breakwater • Liquid Bulk ; • Multi use Pier with 4 berths for • 1 berh expandable to 4 for loading iron ore and pellets ; general cargo, steel and Supply boats. Atlantic Ocean 16
  • 17. Port Açu Under construction and attracting important industries Port Açu construction started in October/2007 and has already 46 MoUs in placeIRON ORE 26.5 Mtpy 1 contract IRON ORE 26.5 Mtpy 1 contractLIQUID BULK 5.5 M m³ py 7 MoUs LIQUID BULK 5.5 M m³ py 7 MoUsGENERAL CARGO 73.4k TEUs py 29MoUs GENERAL CARGO 73.4k TEUs py 29MoUsCOAL/CEMENT COAL/CEMENT 11.2 Mtpy 11.2 Mtpy 66 MoUs MoUsSTEEL PRODUCTS STEEL PRODUCTS 8.2 Mtpy 8.2 Mtpy 44 MoUs MoUs 17
  • 18. Port AçuConstruction site August/2008 18
  • 19. Port Açu is located right in front of the largest Brazilian oilbasin block (Campos, Santos and Espírito Santo) 19
  • 20. Port AçuMain activitiesCapex ( (for 100% of project ) )Capex for 100% of project LLX Minas-Rio: US$ 900 M LLX Minas-Rio: US$ 900 M Açu Non Ore: US$ 700 M Açu Non Ore: US$ 700 M Iron Ore: Coal: Liquid Bulk (LNG): Steel Products: Up to 63.2 mtpy Up to 15.3 mtpy Up to 4.0 M m 3 py Up to 11.2 mtpyDimension Stone: General Cargo: Supply Boats: Real Estate: Up to 1.5 mtpy Up to 330,000 TEUs py Up to 80,000 tons of cargo py Up to 3,300 hectares for rentalSource : Verax Feasibility Study as of June 12th 2008 20
  • 21. Port AçuVolume and Capex 766,0 93,5 Development Capex 205,6 82,0 US$ 1,600 M Volume Ramp up – Mtpy * 77,6 67,9 560,4 62,2 Minas-Rio (Iron Ore) US$ 900M 348,8 Port Açu Non US$ 700 M 65,2 274,5 39,8 30,3 283,6 256,7 53,2 80,7 75,4 20,0 15,1 17,8 38,1 - - - 32 ... 2 ... 07 08 09 10 11 12 13 14 15 07 08 09 10 11 12 13 14 15 3 16 16 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 ... 20 ... (*) Tonnage excluding general cargoSource : Verax Feasibility Study as of June 12th 2008 21
  • 22. 2B. Port Brasil
  • 23. Port BrasilLocation and Logistic Integration MMX CORUMBA Port Brasil will be connected by a 1800 km railway track (ALL) and by a four-lane highway (Padre Manoel da Nóbrega). 23
  • 24. Port BrasilInfrastructure Taniguá Industrial Area Back-area: 6 million m2 Island: 500.000 m2 13 million m2Distribution Center Annual Capacity: 11 berthsConsolidation and • General Cargo: 3,2 million (TEU) Depth of 18.5 mDeconsolidation Center • Iron ore: 20 million (ton)High Value Added Industries • Agricultural bulk: 28,9 million (ton) • Fertilizers: 10 million (ton) • Liquid Bulk: 7,5 million (ton) 24
  • 25. Port Brasil Main activities A new alternative for Brazilian’s SUGAR AND GRAINS BULK 16.6 M tpy 12 MoUs commodities GENERAL CARGO 1.1 M TEUs py 5 MoUs and manufactured exports ETHANOL 22.5 M m3 py 3 MoUs General Cargo Iron Ore Liquid Bulk (Ethanol) Up to 3.2 M TEUs py Up to 20.0 mtpy Up to 7.5 M m3 py Agricultural Bulk Fertilizers Real State Up to 28.9 mtpy Up to 10.0 mtpy Up to 600 hectares for rentalSource : Verax Feasibility Study as of June 12th 2008 and Company 25
  • 26. Port BrasilVolume and Capex 553,2 561,7 Volume Ramp up - Mtpy * 64,9 Development Capex US$ 1,950 M 45,4 46,5 346,0 41,1 27,0 17,8 97,9 100,3 79,8 41,2 35,3 2,2 1,8 - - - - - - 32 ... 07 08 09 10 11 12 13 14 15 ... 32 07 08 09 10 11 12 13 14 15 16 20 20 20 20 20 20 20 20 20 20 16 20 20 20 20 20 20 20 20 20 20 20 ... 20 ... (*) Tonnage excluding general cargoSource : Verax Feasibility Study as of June 12th 2008 26
  • 27. 2C. Port Sudeste
  • 28. Port SudesteLocation and Logistic Integration Belo Horizonte MMX Sudeste MRS Currently Transportation contract secured with MRS and port access with CSN Sepetiba Terminal Port until 2011, when port Sudeste starts up. Sudeste 28
  • 29. Port SudesteOverview L oo p lw ay Ra i Iron Ore Storage km 1 .5 el nn Tu m e 0.8 k Bridg Berth 29
  • 30. Port SudesteVolume and Capex 169,1 Volume Ramp up 1ST Phase - Development Capex 1ST Phase Mtpy 25,0 25,0 25,0 118,3 US$ 380 M 20,0 15,0 49,0 10,0 43,9 5,0 - - - - - - - - - - - ... 32 07 08 09 10 11 12 13 14 15 32 ... 07 08 09 10 11 12 13 14 15 16 16 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 ... ...Source : Verax Feasibility Study as of June 12th 2008 30
  • 31. Capex - Sources and Uses LLX Minas Rio LLX Açu 1000 900 800 800 1nd Phase 600 600 600 75% US$ M 75% US$ M Debt: 675 Debt: 525 400 400 700 200 200 2st Phase 300 25% 45 Centennial: 53 25% Equity: 225 Anglo: 180 Equity: 175 LLX: 123 0 0 100% CAPEX Sources Equity 100% CAPEX Sources EquityLLX Minas Rio Shareholder´s Equity @ June 30th: US$ 211 M LLX Brasil LLX Sudeste 2200 400 2000 1800 1600 1400 75% Debt: 285 US$ M US$ M 1200 75% Debt: 1463 200 380 1000 1950 800 600 400 25% Centennial: 146 25% Centennial: 29 Equity: 488 Equity: 95 200 LLX: 341 LLX: 67 0 0 100% CAPEX Sources Equity 100% CAPEX Sources EquityLLX Açu + LLX Brasil + LLX Sudeste Shareholder´s Equity @ June 30th: US$ 174 M LLX S.A. US$ 123 M Centennial US$ 53 M Source : Verax Feasibility Study as of June 12th 2008 and Company. 31
  • 32. Product share per Port as of 2016 Source : Verax Feasibility Study as of June 12th 2008 32
  • 33. Main Risks & MitigantsEnvironmental Risk Regulatory Risk Management expertise Business Plan compliant with Port Act (Law Seasoned technical team ( permitting 8630/93); processes of ports in Brasil- for CVRD, CSN...); Port Açu has been granted ANTAQ´s Authorization ; EBX Track Record Port Sudeste is a Private Terminal for MMX MMX, MPX precedents and synergy; Sudeste´s own cargo; Top consulting firms hired. Port Brasil´s Business Plan limited 3rd party cargo still delivers a very attractive ROI. Capex Overruns Main Risks Indigeneous Community & Experienced procurement team on board; Rigorous budget controls and contingengy Mitigants More than 90% of the 60 families occupying 10 management; hectares of Port Brasil have agreed to reallocate; Modular implementation with initial investments after LT contracts are locked in. Negotiation with FUNAI well underway. Port – Railways IntegrationFunding Requirements Port Açu - negotiations with FCA are in a very Long Term (12 years) and attractively priced advanced stage; Financing by BNDES secured for LLX Minas-Rio Port Brasil - MoU signed with ALL, joint and under negotiated forSudeste and LLX Açu feasibility study by Sandwell to be completed ports terminals; by 4T08, for the development of a new corridor Bradesco firm commitment for US$ 750 M. for Central Western region; Port Sudeste - MRS expansion plan easily covers the port´s demand. 33
  • 34. LLX Logística S.A. July, 2008www.llx.com.br