2. Disclaimer
This presentation relating to LLX Logística S.A. (“LLX”) 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 and
licenses on a timely basis or at all, 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.
LLX 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 LLX’s prior written consent.
Investor Relations
Otávio Lazcano – CEO
Antonio Castello Branco – Manager
Tel. 55 21 2555-5661
ri@llx.com.br
2
4. EBX´s publicly held companies
LLX was created in March 2007, to
provide logistic services through the
Mkt Cap development of two major port systems
US$ 3.8 bn
in the Southeast region of Brazil.
Its main strengths are:
Mkt Cap Mkt Cap
US$ 41.9 bn US$ 3.8 bn
Strategic locations and large back-areas;
Mkt Cap EBX Group*
US$ 55.3 bn Integration with existing rail and road
infrastructure;
Low cost operational model (private terminals);
Long term contracts and synergies generated
Mkt Cap Mkt Cap within the EBX Group;
US$ 2.2 bn US$ 3.0 bn
Experienced management team;
Secured Debt Financing Sources;
*As of September 30th 2010 Social and Environmental Responsibility
*R$/USD – 1,70
4
5. BNDESPAR joins LLX´s Shareholder structure as part of
a R$ 600 M Capital Increase
Controlling
Shareholder + Other Minority Shareholders
54% 18% 3% 25%
PORT X
51% 70% 100%
MMX LLX LLX LLX
Minas-Rio Minas-Rio Açu Sudeste
30%
100% 49%
Centennial
Açu Superport
BNDESPAR has performed an extensive due diligence, which attested the quality of LLX projects
5
6. Experienced Management Team
Officer Experience
Eike Fuhrken Batista
– Founder and CEO of EBX, entrepreneurial conglomerate founded in 1983
Chairman and Founder
– Economist and MBA from Fundação Dom Cabral.
Otávio Lazcano – 11 years of experience at CSN (Companhia Siderúrgica Nacional)
– Former CFO and IRO of CSN
CEO – 4 years at Aracruz
– Civil Engineer from from Pontifícia Universidade Católica of Rio de Janeiro and is a Chartered
Leonardo Pimenta Gadelha Financial Analyst (CFA) since 2003.
– Former CFO of Log-In Logística Intermodal (spin-off and IPO).
Chief Financial Officer
– 5 years at Vale: corporate governance department and M&A area (Caemi and INCO deals).
– 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.
Chief Implementation Officer – 30 years experience in implementing infrastructure projects (urban projects and port terminals);
power plants and industrial facilities at Pronil, OAS and Brascan.
Claudio Lampert – Law Degree from UERJ and LLM from University of Miami.
– 15 years experience in structuring and development of several mining, power and other infra-
Chief Legal Officer structure related projects in Brazil as a partner of Veirano Advogados.
6
7. LLX´s Projects
Fully integrated in Brazil´s main logistic network and to 72% of the country´s GDP
Açu Superport
Sudeste Superport
7
8. LLX: Innovating Port´s Infrastructure
LLX´s Port-Industry Complex : world-class logistic solutions
A Typical Brazilian Port LLX: Açu Superport
Industrial Area
Industrial District concept under develpoment
No area for port growth Açu Industrial Complex: 90 Km2
Logistic bottlenecks 61 MoUs
8
9. LLX : Unclogging Brazil´s Logistics
LLX´s Ports: reinforcing Brazil´s capesize capacity and beyond
Amazon
River
Itaquí
Manaus Fortaleza
Suapé
Salvador
Vitória
Rio de Janeiro
Santos
Paranaguá
São Francisco do Sul
Rio Grande
80% of the Brazilian population lives Only 7% of Brazilian Ports are able to
within 200 km (124 miles) of the coast receive capesize vessels*.
Source : (*) CEL/COPPEAD 2008 – vol 1 and Port Sites 9
10. LLX´s Business Model
LLX is signing long term agreements with setorial industry leaders guaranteing
a steady cashflow and dividends to shareholders
Company Services Rendered Revenue Model
Firm contract with Anglo
LLX Minas Rio Iron Ore handling that guarantees 15% py IRR
to firm in US$ unleveraged
Multi product handling Tariffs negotiated to ensure a
(Steel,Coal,Liquid & Dry minimum 15% py IRR to firm
LLX Açu Bulk,General Cargo) ; Land in US$ (under Long Term
Lease and Services & contracts) unleveraged
Utilities
Long term contracts with
fixed tariffs competitive
LLX Sudeste Iron ore handling with comparable market
rates. Not linked to
commodity prices.
10
12. Açu Superport – Highlights
The largest investment in port development in Latin America, with state-of-the-art
facilities: more than R$ 4.0 billion investment in port infrastructure;
Under construction, to be completed by 1H2012
Brings the concept of Port – Industry integration in a very large scale : 90 Km2
Anchored on a long-term contract to ship Anglo American’s Minas Rio iron ore
with a guaranteed 15% IRR to firm
More than 60 contracts and MoUs signed with companies from sectors such as:
Steelmaking ( Ternium, Wuhan); Oil and Gas;
Power generation ( MPX); Metal Mechanic;
Cement (Votorantim , Camargo Correa); Dry & Liquid Bulk Handling;
Offshore Industries ( Acergy, Technip); Automotive;
General Cargo & Services.
Total investments in Açu Industrial District would reach more than USD 36 billion
12
13. Açu Industrial Complex
A new cluster for heavy industry
> 90 Km2 Industrial Complex (larger than Manhattan Island)
Industrial Complex concept under development
14. Açu Superport
Location and logistic integration to main railway and highway network
A Complete Logistic Corridor
LOGISTICS CORRIDOR
BR 101 to be duplicated
A 45 km new railway track will connect
Açu Superport to the FCA railway within
a multimodal Logistic Corridor
14
15. Açu Superport
A One Stop Shop for the Oil & Gas Industry
Ubu
Consolidation and
VLCC/
Onshore Storage :
Chinamax
Tankers 1.2 million bpd
Storage &
Treatment For Export &
Coastal Shipping
FPSO
OIL COMPANIES
Macaé
Small Tankers
Shuttle
Campos Basin
85% of Brazil Oil
Production
FPSO
15
16. Açu Superport
Oil Treatment Facility
For 800,000 bpd
FPSOs
(+)
Desalting Blending Dewatering
Oil Treatment
Investment of
Facility US$ 1.45 billion
Business opportunity with
a leveraged IRR > 70% py
Oil Export VLCCs
Source : Verax Feasibility Study as of March 2010 16
19. Açu Superport
Under construction and attracting Oil & Gas and Offshore players
Açu Superport construction started in October/2007 and has already 61 MoUs in place
OIL
IRON ORE
OIL
19
20. Açu Superport
Main activities
CAPEX ( for projects @ 100% )
LLX Minas-Rio: R$ 1.9 billion
LLX Açu (Non Ore): R$ 2.4 billion
Iron Ore: Oil Real Estate Steel Products
Up to 60 mtpy Industrial Areas Rental
Up to 46.4 Mm3 py Up to 10.2 mtpy
Coal Pig Iron Slag Granite
Up to 12.6 mtpy Up to 2.0 mtpy Up to 2.0 mtpy Up to 1.0 mtpy
Source : Verax Feasibility Study as of March 2010 20
21. Açu Superport
Milestones
Açu Superport Construction on Track
1H06 2H06 1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12
LLX Minas-Rio
Project Construction Construction
Under Construction Start up
detailing License begins
Environmental ANTAQ
License Authorization
Offshore Onshore
Project
Construction Environmental Start up
LLX Açu
detailing
License License
Offshore Onshore
ANTAQ Construction
Environmental Construction Under Construction
authorization begins
License License
Development
Construction
Operations
21
24. Sudeste Superport
Location and Logistic Integration
MMX
Sudeste
Highlights:
Private mixed-use port terminal
MMX Sudeste
Licensed for 50 Mtpy capacity (first phase),
potential expansion to 100 Mtpy
Direct railway link through MRS to Minas
Gerais iron ore deposits
Port Service Agreement with MMX Sudeste
already in place
Will also service third parties located in the
Serra Azul region.
24
25. Sudeste Superport
General view
VALE CSN
Environmental and Construction License
Granted for 50 Mtpy and Brazilian Navy
Authorization for a 2nd pier to 100 Mtpy;
780,000 m² of back-area with a storage
capacity of 2.5 Mt of Iron Ore
LLX VALE
CSN
Private Port Terminal dedicated to iron ore with operation start up in 1H12
25
26. Sudeste Superport
General view: onshore site
Administrative Iron Ore Yard El. 32
Buildings Iron Ore Yard El. 06
Railcar
Dumper
Rail Loop
Last available location for a Bulk Terminal in Sepetiba region
26
27. Sudeste Superport
Construction at full speed
Stockyard 06 Stockyard 06
Stockyard 32 Stockyard 32 – Tunnel Entrance
Quarry in operation recycled into an Iron Ore stockyard
27
28. Sudeste Superport
Milestones
Sudeste Superport will start its operation in 1H 2012
2H06 1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12
Sudeste Superport
Pedreira
Development Environmental EIA EIA RIMA Environmental Construction
Sepetiba Start up
start-up Studies RIMA Completed License License
Acquisition
Navy ANTAQ
Approval Authorization
Construction
Under Construction
begins
Development
Construction
Operations
28
29. Sudeste Superport
Volume and Capex
Sudeste Superport Total CAPEX: R$ 1.8 billion
CAPEX (R$ Million) Volume Ramp up (mtpy)
1200 50,0 50,0 50,0 50,0 50,0 50
50,0
1000 40,0
40,0
800
30,0
600
1093
20,0
400 14,5
200 10,0
360
86 40 63 115
0 -
2007 2008 2009 2010 2011 2012 2012 2013 2014 2015 2016 2017 2018... ...2032
Actual Estimated Preliminary Budget
Source : Verax Feasibility Study as of March 2010 29
30. Ebitda Breakdown
Cumulative Ebitda curve
Ebitda at Steady State (Projects @ 100%) :
R$ 3.5 billion
Leasing of Areas
Source : Verax Feasibility Study as of March 2010 30
31. Financial Summary
( projects @ 100%)
4.000
Ebitda Ramp up (R$ M)
3.500
3.000
2.500
2.000
1.500
1.000
500
-
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
CAPEX : IRR ( to equity) : Ebitda Margin at Steady State :
R$ 6.1 billion 37% py 78%
Source : Verax Feasibility Study as of March 2010 31
