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.
Investor Relations :: December 09 :: Page 2
4. In 2008, thermal capacity was instrumental in preventing an
energy rationing
Should Brazil have relied solely on its hydro power capacity, the country could have
faced an energy rationing in 2008
Thermal dispatch saved 23% of Brazil’s maximum energy storage in that year
90%
% of Storage Capacity – ‘08
80%
70%
60%
50%
23%
40%
30%
20%
jan feb mar apr may jun jul aug sep oct nov dec
Actual energy storaged in dams
Energy storage without thermal dispatch
Critical energy storage curve (“CAR”)
Source: ONS, MPX Regulation & Market Studies
Investor Relations :: December 09 :: Page 4
5. Thermal plants should have an increasingly important role
in future years
Environmental licensing restricts size of reservoirs new hydro capacity
predominatly run of river, thus…
Energy storage capacity is increasing at a very slow pace, and…
Hydropower needs thermal power to increase the reliability of electricity supply
Energy Storage Capacity / [Load – Thermal Generation]
Thermal
30
Generation is
Reservoirs Autonomy (Months)
25 instrumental in
effectively
20
managing
15 reservoir levels
~ 6 months
10
5
0 Energy Supply
2008
1970
1976
1998
2004
1972
1974
1978
1980
1982
1984
1986
1988
1990
1992
1994
1996
2000
2002
2006
Assurance
Investor Relations :: December 09 :: Page 5
6. MPX has a unique portfolio of greenfield thermal power
projects, using diverse fuel sources
Colombian
Coal
Long-term project pipeline
Colombian mining assets (imported coal)
2100 MW – TPP Porto do Açu – Phase I
Exploratory
2100 MW – TPP MPX Chile Blocks
TPP Parnaíba (MA)
Licensing process to start soon
Seival Mine (domestic coal)
TPP Porto do Açu
600 MW – TPP MPX Sul Phase I (RJ)
Installation License
TPP Porto do Açu
Parnaíba Basin (on-shore natural gas) TPP MPX Chile Phase II (RJ)
Copiapó – Atacama Licensing process to start soon
In licensing process
1000 MW – TPP Parnaíba TPP MPX Sul (RS)
Preliminary License
Seival Mine (RS)
Regas.terminal in Açu (LNG)
3300 MW – TPP Porto do Açu – Phase II
Domestic Coal Natural Gas
Imported Coal Natural Resources
Investor Relations :: December 09 :: Page 6
7. And it is currently building 1440 MW, which are fully
contracted for 15 years
Installed Energy
Capacity contracted PPA Start EPC Commercial
Financing
Date Progress Operation Date
(MW) (avg MW)
Jul 2011 (360 MW)
Pecém I* 720 615 Jan 2012 39% BNDES/ IDB
Oct 2011 (360 MW)
Pecém II 360 276 Jan 2013 24% Jun 2012 BNDES
Itaqui 360 315 Jan 2012 39% Oct 2011 BNDES/ BNB
* Pecém I is a 50/50 partnership between MPX and EdP
Investor Relations :: December 09 :: Page 7
8. Generating gross revenues of approximately R$1.2 bln by 2013
Guaranteed Capacity Payments (R$ million) Gross Revenues (R$ million)
PPAs in the Regulated Market start in Average Dispatch = 65%
Jan 2012 and Jan 2013
1400 1400 1,216 1,199 1,208
1200 1200 1,147
1000 15-yr PPAs
15-yr PPAs 1000
800 692 800
600 474 219 600
400 400 314
230
200 200
243
0 0
2012 2013 2011 2012 2013 2014 2015
Itaqui Pecém I Pecém II
Note 1: Figures adjusted to reflect MPX’s 50% stake in Pecém I
Note 2: In real terms as of December 2008
Obs: Excluding Serra do Navio TPP
Investor Relations :: December 09 :: Page 8
10. A first coal resource report certified over 110 MM tons in
resources in Colombian concessions
1st Resource Report (data as of Aug 21) Area 1
Covered 320 hectars (ha)
140 boreholes, of which 75 positive
50,000 meters of drilling completed
Potential for open-pit mining
Resources in La Guajira (Mt) – 320 ha
Indicated 91.3
Area 2
Inferred 19.2
TOTAL (Mt) 110.5
Investor Relations :: December 09 :: Page 10
11. And continued drilling keeps showing positive results
Updated number of positive boreholes (AREAS 1 + 2): 108
AREA 1
AREA 2
Investor Relations :: December 09 :: Page 11
12. Moreover, another area with potential for open-pit mining
was identified
Boreholes drilled 18
Boreholes with coal 13
Cumulative meters drilled 3,857
Legend
Drilled Without Coal
Drilled With Coal
Drilling With Coal
Drilling
Schedule Short Term
AREA 4
Scheduled
Investor Relations :: December 09 :: Page 12
13. And potential for underground mining seems substantial
Large potential for underground coal
Coal layers: up to 35
Cumulative thickness of coal layers: up to 80 m
Length NS: 15.5 km
Length EW: 3.5 km
Depth of first coal layer: between 385 and 450 m
Legend
Drilled Without Coal
Drilled With Coal
Drilling With Coal
Drilling
Schedule Short Term AREA 3
Scheduled
Investor Relations :: December 09 :: Page 13
14. Coal will be trucked to coast and MPX is currently working
on short and medium term port alternatives
n
atio
rt Loc
P. NUEVO X Po
MP
Planned route MPX Concessions MPX
Investor Relations :: December 09 :: Page 14
15. Also, MPX Sul project will allow MPX to capture the value of
the Seival mine
Seival Mine
Partnership 70/30: MPX / Copelmi Aeródromo
BR-293
SEIVAL
Operating License granted Vila CEEE
TPP
MPX Sul
Proven reserves = 152 MM tons BRAZIL Mina de
Ferrovia
Seival Vila
Joáo
Total Resources = 459 MM tons Emílio
Arroio
UTE Seival Candiota
Additional studies will increase total Projeto Aeródromo
reserves Ex-Projeto
CRM
Rio Jaguarão Candiota III
Barragem II
Dario Lassance
UTE Pres. Médici
Barragem I
MPX Sul (600 MW)
CRM CRM Pedreira
Vila CEEE de Calcário
Coal needs = 3 MM tons/year* CRM
Cimbagé
Mina de
Candiota Seiva
Rio Grande do Sul
* Considering 80% dispatch
Investor Relations :: December 09 :: Page 15
16. MPX is pursuing full integration in natural gas as well
Exploratory Blocks
7 exploratory on-shore blocks
High potential for natural gas exploration
Proximity to 500 kV substation, allowing
connection of thermal plant to grid
Ownership structure:
Investor Relations :: December 09 :: Page 16
17. And acquired a participating interest in onshore exploratory
blocks with contingent resources of 1.7 Tcf
Tcf boe
Total Contingent Resources* 1.7 303 MM
Total Risked Prospective Resources* 0.2 37 MM
* Certified by DeGolyer&MacNaughton
Pará
Maranhão
2SLST0001 MA
1PA 0001 MA
BT-PN-04 BT-PN-05 BT-PN-06
Piauí
MPX will soon start BT-PN-07
2CP 0001 MA
BT-PN-08
licensing a 1000 MW BT-PN-09
2BAC 0001 MA BT-PN-10 1PD 0001 MA
power plant
Sísmica 2D Campos de Produção
Blocos OGX
0 10 20 40 60 80 Km
®
Investor Relations :: December 09 :: Page 17
19. 2009 was a year of accomplishments
jan mar abr may jul sep oct nov
Itaqui TPP Itaqui TPP Evonik Energy MPX Energia Pecém I TPP MPX Colombia Pecem I TPP Pecem I TPP
MPX signs Level I GDR BNDES disburses IDB releases first
1st Mineral Resource
Project found IBAMA grants training, commence Long-term financing long-term tranche of long-
Technical Report
eligible for BNB Installation consulting and trading on the contracts (IDB and financing term financing
identifies 110 million
Financing License O&M support over-the-counter BNDES)
tons of thermal coal R$ 700 millions US $ 260 millions
agreement market
Pecém II TPP Itaqui-Pecém I Pecém II TPP MPX Energia Parnaiba Basin Açu TPP Parnaiba Basin
R$ 305 Million Long term credit
IDB approved Acquire a stake D&M certifies
Bridge Loan line amounting R$ INEA grants
long term 1:20 split of in 7 onshore net contingent
signed 323 Millions Installation
financing MPX shares blocks with high resources of 1,7
guaranteed by License
package potential of NG Tcf
Banco Itaú BBA
Pecém I TPP Petra Energia MPX Sul TPP
BNDES approved Signed Agreement
IBAMA grants
a long term for development of
Preliminary
financing NG power
License
package generation projects
Investor Relations :: November 09 :: Page 19
20. MPXE3 outperformed both the Ibovespa and the IEE and enjoyed
a significant increase in liquidity
352
R$ 23,9
Market Cap* R$ 3.3 bi
178
# Shares 136,657,480
R$ 6,79 151
Free Float 24.20%
as of Nov 10
Investor Relations :: December 09 :: Page 20
21. And the positive news flow should continue in 2010
• Authorization for MPX Parnaíba TPP
• Additional long-term PPAs
Energy
• Installation License for MPX Sul TPP
• Preliminary license for MPX Parnaíba TPP
• Preliminary License for MPX Açu TPP – phase II (LNG)
• Environmental License for Castilla TPP
• Environmental License for Colombian coal mines
• Updated Coal Resources and Reserves Reports
• Definition of site for MPX Port in Colombia
• Drilling of an adittional well in the Parnaíba Basin
• Final approval and disbursement of first tranche of long
term financing for Itaqui and Pecém II
Investor Relations :: December 09 :: Page 21
