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.
2
4. A PROVEN RECORD OF ACHIEVEMENT
2012
2011 MPX/E.ON
partnership
TPP Parnaíba licensed
The First Five Years capacity increased to Drawdown of bridge-
3,722 MW loans totaling R$ 1.6
Power supply billion for natural
contracts secured for gas production and
2010 1,193 MW and power generation in
construction works at the Parnaíba Basin
MPX Colombia – 1st
TPP Parnaíba begin Spin-off of
Technical Report:
2009 coal resources of
D&M estimates for Colombian coal
risked resources in assets to a new
144 MM tons
2008 Construction works the Parnaíba basin company listed at
at TPPs Itaqui and License granted for amount to over 11Tcf
First acquisition of the BM&FBOVESPA
Pecém II begin TPP Parnaiba
2007 mining rights in
(1,863 MW)
Declaration of
E.ON’s acquisition of
Colombia Acquisition of commerciality for 2
minority interest at
IPO: US$ 1.1 interest in 7 onshore Initiation of drilling gas fields with
billion raised 365 MW contracted in MPX through a R$
exploratory blocks in campaign in the estimated production
the A-5 Auction 1.0 billion capital
1,080 MW the Parnaíba basin Parnaíba basin of 6 MM m3/day
increase
contracted in the Construction works at
A-5 Auction TPP Pecém I begin
4
5. A DIVERSIFIED ENERGY COMPANY
Largest Portfolio Of Integrated Projects In South America
Amapari Energia Power Generation
23 MW
Itaqui TPP
360 MW Power agreements secured for 3.0 GW
Exploratory blocks Energia Pecém
11.3 Tcf GN 720 MW
Environmental license for an additional
Parnaíba TPP
1,531 MW
Pecém II TPP
365 MW
11 GW
Parnaíba TPP Solar Tauá
2,191 MW 1 MW Joint-Venture with leading global player
E.ON AG
Natural Resources
Açu TPP
2,100 MW – Coal
Castilla TPP
3,300 MW – Natural Gas Natural Gas: >11 Tcf of risked resources
2,100 MW
in the Parnaiba Basin
Desalination Seival mine
Plant Sul TPP
740 l/s 727 MW
Seival TPP
600 MW
MPX
JV
5
6. MPX OWNERSHIP STRUCTURE
(after conclusion of capital increase, assuming no subscription by minority shareholders)
EIKE
Free Float
BATISTA
53.9% 34.3% 11.7%
50%
50%
MPX- E.ON JV
50/50
100% 50% 50% 50% 100%
Contracted Greenfield
Natural Supply &
Power Thermal Renewables
Resources Trading
Generation Generation
Energia Pecém Seival TPP Parnaíba
(365 MW) (1,534 MW)
Pecém II OGX Maranhão Açu – Natural
New
(365 MW) Gas (3,300 MW)
Projects
Itaqui Açu – Coal
(365 MW) (2,100 MW)
TPP Parnaíba Castilla - Coal
(1,087 MW) (2,100 MW)
Amapari Sul and Seival -
(12 MW) Coal (1,327 MW) 6
7. EXPERIENCED MANAGEMENT TEAM TO EXECUTE ON
STRATEGIC VISION
Over 22 years of experience in a wide range of M&A and corporate finance transactions related to the natural
Eduardo Karrer resources, electricity, sanitation and logistics sectors
CEO & IRO CEO at El Paso Brasil Ltda.and Rio Polímeros S.A..
Executive manager for the Gas&Energy and International Markets divisions at Petrobrás
Over 25 years of experience in the financial area at multinational corporations
Rudolph Ihns CFO at MMX Mineração e Metálicos S.A.
CFO
CFO at Unisys in Brazil and Germany
Former National Secretary for Energy
Xisto Vieira Filho Coordinator of the Subcommittees for Electricity Studies of the Interconnected System and Secretary of National
Officer for Regulatory Energy Policy Committee of Brazil
Affairs & Chairman of the Board of Directors of CHESF and Eletrosul and Board member of Eletrobrás, Furnas, Cepel and
Commercialization Grupo Rede
Former president of the National Committee of Cigré (Conference Internationale des Grand Réseaux Électriques)
Over 20 years of experience in operations at multinational corporations
Marcus Bernd
Temke COO at Rio Polímeros S.A.
COO Holds an MBA from COPPEAD-UFRJ
Partner at Villemor Amaral Advogados (2002-2004) and Tozzini, Freire & Silva Advogados (2001-2002)
Bruno Chevalier
General Counsel at MMX Mineração e Metálicos S.A.
General Counsel
Legal Director at General Motors Corp. in Lisbon and Delphi Automotive Systems 7
9. INVESTMENT CONSIDERATIONS
Exposure to Brazil’s growing energy demand
Tax-advantaged thermal power plants coming on-line in 2012
Attractive monetization of natural gas resources
Robust pipeline of thermal projects to meet Brazil’s need for a more reliable
electric system
Joint-venture with E.ON to develop strong portfolio of energy assets while
unlocking value of Colombian coal assets
Experienced management team to execute on strategic vision
9
11. BRAZIL WILL NEED ADDITIONAL 10 AVG GW FROM
2015-2019
Power Supply/Demand
Energy Deficit starting in 2015 = Investment Opportunities
Energy Load (forecast)
Firm Energy
2015-on: new generation required
10 GW avg required from 2015 to 2019
Source: ANEEL 11
12. BRAZIL NEEDS NEW THERMAL CAPACITY TO
INCREASE SUPPLY RELIABILITY
Water storage capacity has stagnated, leading to decreased system autonomy
Storage Capacity (Southeast) Autonomy = [Storage Capacity / (Load – Thermal Generation)]
Actual
Reservoir
Autonomy:
~ 5 months
Storage
capacity
stagnation
2001: Energy
Deficit
(load reduction)1
Storage Capacity (SIN):
Southeast = 69% Northeast = 19% New thermal plants are necessary to guarantee
South = 7% North = 5% a reliable power supply.
Source: ONS 12
13. TRANSMISSION DELAYS REINFORCE THE
IMPORTANCE OF THERMAL PLANTS
Transmission expansion delays will affect reliability of energy supply: greater
need for thermal plantes located close to power consumption centers
Average delay = 1.2 year
103 delays of up to 1 year
100 delays greater than 1
year
Source: ANEEL
13
15. POWER AGREEMENTS SECURED FOR 3.0 GW
Minimum guaranteed revenues will reach R$ 1.4 billion in 2015
TOTAL ADJUSTED
ENERGY SOLD ANNUAL CAPACITY PPA
CAPACITY CAPACITY FUEL SOURCE
(AVG MW) PAYMENT3 PERIOD
(MW) (MW)
Energia Pecém TPP1 720 360 615 R$ 272 million Coal 2012-2027
Itaqui TPP 360 360 315 R$ 287 million Coal 2012-2027
Pecém II TPP 365 365 276 R$ 258 million Coal 2013-2028
Parnaíba TPP2 - Phase I 676 473 450 R$ 282 million Natural Gas 2013-2028
Parnaíba TPP2 - Phase II 517 362 450 R$ 237 million Natural Gas 2014-2034
Parnaíba TPP2 - Free
338 237 200 R$ 186 million Natural Gas 2019-2029
Market
Total 2,976 2,157 2,306 R$ 1,538 million
Total Capacity: Does not include Amapari TPP and Taua Solar Plant.
Adjusted Capacity/Annual Capacity Payment: Figures adjusted for MPX’s ownership in each project
Notes: 1. Energia Pecém is a partnership between MPX (50%) and EDP Brasil (50%); 2. Parnaíba is a partnership between MPX (70%) and Petra (30%); 3. Capacity Payments are
escalated annually by the IPCA inflation index (Figures as of March, 2012).
15
16. STEADY AND PREDICTABLE CASH FLOWS
3
Installed Capacity (MW) Minimum Guaranteed Gross Revenues (MM)
1,920 1,352
1,291
1,558 1,113
720
182
2012 2013 2014 2012 2013 2014 2015
Energia Pecém TPP 1 Parnaíba TPP2 – Phase I
Itaqui TPP Parnaíba TPP2 – Phase II
Pecém II TPP
Figures adjusted considering MPX’s interest in each project
Notes: 1. TPP Energia Pecém is a partnership between MPX (50%) and EDP (50%); 2. TPP Parnaíba – Phases I and II are partnerships between MPX (70%) and Petra (30%); 3. Capacity
Payments are escalated annually by the IPCA inflation index (Figures as March, 2012). 16
17. ENERGIA PECÉM TPP (720 MW)
Execution highlights
The plant is in the commissioning
phase
Coal conveyor belt already in
operation
Next steps:
Steam to turbine and Turbine no
load test
Synchronization and load tests
Commercial Operation
Estimated Remaining Capex until
completion*: R$ 199 million
Energia Pecém is a partnership between MPX (50%) and EDP Brasil (50%)
* From April 2012 17
18. ITAQUI TPP (360 MW)
Execution highlights
Currently in hot commissioning
stage. First firing of the boiler has
been carried out
Turbine assembly completed
FGD (Flue Gas Desulfurization):
electrical and instrumentation tests
completed
Estimated Remaining Capex until
completion*: R$ 291 million
* From April 2012 18
19. PECÉM II TPP (365 MW)
Execution highlights
The plant’s main equipment is in
the final stage of construction and
assembly
The coverage of the metal
structure in the turbine building
and the assembly of the surface
condenser are in the process of
being completed
Estimated Remaining Capex until
completion*: R$ 238 million
* From April 2012 19
20. PARNAÍBA TPP – PHASES I (676 MW) & II (517 MW)
Execution highlights
EPC contracts signed with Duro Felguera (Phase I)
and Initec Energia (Phase II)
Implementation initiated and site preparation advanced
3 turbines and 3 electrical generators on site and other 2
already shipped to Brazil
Partnership with GE ensures timely equipment supply
Estimated Remaining Capex until completion*:
Phase I: R$ 644 million
Phase II: R$ 1,063 million
R$ 1,375 million in bridge-loans disbursed to fund
Phase I and Phase II.
20
* From April 2012
22. MPX OWNS 23% OF A UNIQUE ONSHORE NATURAL
GAS PORTFOLIO
Ownership Structure:
OGX Maranhão
Blocks
Total area:
24,500 km²
2 commercial production fields under development:
Gavião Real and Gavião Azul
Prospective risked resources surpass 11 Tcf (2.0 bi boe)
3 drill-rigs in operation and 3 seismic crews in the region
Exploratory campaign has identified 4 accumulations and
over 20 prospects
14 exploratory wells planned until the end of 2013 at a
cost of approximately US$ 15 MM per well 22
23. GAS PRODUCTION IS PLANNED TO START IN 2H12
Initial production of 6 MM m3/day will supply TPP Parnaíba
– Phases I & II
On schedule to start production at Gavião
Real and Gavião Azul in 2H2012
Estimated capacity in 2013: 6 MM m³/day (212
MM ft³)
6 development wells concluded and 2 in
progress
Construction of Gas Treatment Unit initiated
(EPC by Valerus-Geogas)
Competitive costs:
Estimated capex: US$ 450 MM
Maintenance capex: < US$ 1.0 MM/year
Average operating cost: US$ 0.30/1,000ft³
R$ 600 million bridge-loan to fund
production development disbursed in
January 2012
23
24. ATTRACTIVE OPPORTUNITIES TO MONETIZE
ADDITIONAL PRODUCTION
Efficient Integration of Natural Gas Resources with Energy Production
Thermal power plant located at <
2km from gas fields
2.2 GW licensed and still uncontracted
could demand further 11 MM m3/day
Inexpensive connection to the
electrical grid
Limited competition in natural gas
Tax-advantaged region can attract
industrial investments with gas is
available
24
26. CREATING VALUE THROUGH JOINT-VENTURE
WITH E.ON
Leveraging Strong Complementary Capabilities to Enhance Growth
MPX and E.ON AG* recently formed a 50/50 joint-venture to develop a strong portfolio of energy
assets in Brazil and Chile
E.ON has committed to support MPX’s investment needs at the JV, at E.ON’s cost of equity in
Brazil, to expedite the development of the power generation projects of the JV
MPX is in the process of raising R$1.0 billion through a capital increase
E.ON should acquire a 10% equity interest in MPX through a capital investment of R$ 850 million
If minority shareholders do not exercise their preemptive rights, E.ON has committed to subscribe up
to R$ 1.0 billion, equivalent to an 11.7% equity interest in the company
(*) E.ON has one of the broadest and most diverse power and gas asset bases in Europe.
Installed Capacity: 69 GW
2011 Traded Volumes: 2,000 billion kWh of power / 2,500 billion kWh of gas / 600 million tons of carbon / 300 million tons of coal
2011 Figures : Cash Position: EUR 6,610 million / Total assets: EUR 152,872 million / Sales: EUR 112,954 million
26
28. FUTURE GROWTH OPPORTUNITIES
MPX is positioned for leadership in the Brazilian and Chilean
energy markets
TOTAL ADJUSTED
CURRENT THERMAL
CAPACITY CAPACITY FUEL SOURCE
PIPELINE
(MW) (MW)
Parnaíba1 2,191 1,534 Natural Gas
Açu 3,300 3,300 Natural Gas
Açu 2,100 2,100 Coal
Castilla (Chile) 2,100 2,100 Coal
Sul and Seival 1,327 1,327 Coal
Jandaíra 140 140 Wind
Pontal 200 200 Wind
Total 11,358 10,701
1 Parnaíba - partnership between MPX (70%) and Petra (30%)
28
29. CASTILLA: 2.1 GW IN COAL-FIRED CAPACITY
IN CHILE
Castilla is the largest licensed greenfield power plant in the SIC
Integrated Project: Power Plant + Deep-Water Port
+ Desalination Plant
SIC: Central Interconnected System (90% of GDP &
92% of population)
Located 700 Km North of Santiago
Port concession and environmental license granted
Power plant capacity: 6 x 350 MW = 2,100 MW
Desalination plant capacity: 740 l/s
Strategically located in a region with significant
pent-up demand for energy and water
29
30. AÇU: A 5.4 GW GREENFIELD GENERATION COMPLEX
3.3 GW in gas-fired + 2.1 GW in coal-fired capacity located in
Brazil’s load center
Located in one of the most important
port-industrial complex in Latin America
Total capacity of 5,400 MW
Coal: 2,100 MW
Natural Gas: 3,300 MW
Located 150km from natural gas accumulations
discovered in the Campos Basin
The industries located within the Superport will
benefit from auto production sharing, which at
current prices represents a reduction in energy
costs by approximately 30%
30
31. SUL + SEIVAL: 1.3 GW INTEGRATED TO A
LIGNITE MINE
Open-pit mine with low mining costs, located adjacent to the power
plants, resulting in competitive fuel costs
MPX Sul and MPX Seival:
Capacity: 727 MW + 600 MW
Fluidized Coal Bed technology
Lower emissions resulting from the mix
burning of coal and wood chips
Seival Mine:
Partnership between MPX and Copelmi –
one of Brazil’s largest coal miner
Operating License granted
152 MM tons in proven reserves and 459
MM tons in total resources
Located in a region with limited hydro
potential and transmission constraints.
31
32. JANDAIRA WIND FARM (140 MW): RIO GRANDE DO
NORTE, NORTHEAST OF BRAZIL
7 projects ranging from 16MW to 23MW each
CAPACITY Load Factor
PROJECT
Complexos Eólicos (MW) (%)
Ventos
JANDAÍRA WIND FARM 144,9 47
João Total Capacity: 140 MW
Câmara
Estimated Load Factor: 47% (P50)
RN
Wind measurement: Jun/06-ongoing
Location: Rio Grande do Norte, NE of Brazil
Grid connection at 30km
Environmental licensing in process
33. PONTAL WIND FARM (200MW): RIO GRANDE DO
SUL, SOUTH OF BRAZIL
8 projects of 25MW each
CAPACITY Load Factor
PROJECT
(MW) (%)
PONTAL WIND FARM 200,0 43,0
Total Capacity: 200 MW
Estimated Load Factor: 42% (P50)
Wind measurement
50 meters: Apr/06-Mar/08
80 meters: Jun/10-ongoing
Location: Rio Grande do Sul, S of Brazil
Grid connection at 2 km
RS
Preliminary license granted
35. ESTIMATED CAPEX
(Including 23.3% participation interest in gas onshore blocks in the Parnaíba Basin)
CAPEX (R$ Bi)
1.8
1.5 1.5
0.8
0.6
0.3
0.1 0.1
2007 2008 2009 2010 2011 2012E 2013E 2014E
35
36. DEBT & CASH POSITION (end of 1Q12)
Consolidated Cash and Cash Equivalents: R$ 1,325.1 million
Debt (R$ million)
• R$ 694 million transferred to CCX
• Capital increase should be concluded by mid-July, adding R$ 1.0 billion to 1,269
(27%)
total cash
3,363
(73%)
Total Consolidated Gross Debt*: R$ 4,632 million
Short term: R$ 1,269 million
R$ 1,0 billion bridge loan to Parnaíba Phase I and II => to be paid- Short Term Long Term
off with draw down from long-term financing expected for 2H2012
Long term: R$ 3,363 million Debt Maturity Profile** 2,688.2
(R$ million)
Average amortization: 14 years
1,325.1
Average cost of debt: 9.75% 990.2
480.7
251.9 227.7
Average tenure: 6.1 years
Cash & Cash 2012 2013 *** 2014 2015 From 2016 on
Equivalents
**Values incorporate principal + capitalized interest + charges
*Adjusted so as to exclude debt transferred to CCX before spin-off ***R$ 823 million bridge loan to Parnaíba 36
37. For more information, contact:
Investor Relations
(55 21) 2555-9215
ri.mpx@mpx.com.br
Editor's Notes
Isso já considera plantas em default canceladas? Sim Onde posso achar esses dados?Garantia Física (projetos existentes): http://www.aneel.gov.br/aplicacoes/capacidadebrasil/energiaassegurada.aspGarantia Física (EXPANSÃO): Portarias de Garantia Física publicadas a cada ano antes dos respectivos leilões.Previsão de carga de Energia: deck Newave (necessário ser agente da CCEE), o mercado não tem acesso a essa previsão de carga