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.
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3. MPX: A unique electrical bond + potential upside
3 projects contracted – 1,440 MW under construction
15-year PPAs secured, with full pass-through of fuel costs
IDB and BNDES Long term financing secured
Lump-sum/turn-key EPC contracts secured
Returns way above average electrical sector
Potential upside from drilling campaign in Colombia
* Itaqui: BNDES Board approval to occur soon 3
4. Financial strength
Financial strength
MPX Projected Cash Position (R$ MM)
Cash* = R$ 1.9 billion 2.000
1.600
Net cash* = R$ 975.9 million
1.200
Net cash/share* ~ R$ 143
800
Equity requirements from 3 projects 400
~ R$ 0.9 billion
0
* As of Dec, 2008 2008 2009 2010 2011 2012 2013
* Considering the DCF value from Credit Suisse, Santander, Itaú, Merrill Lynch and JP Morgan (including only Pecém I, II and Itaqui) 4
5. Positive operating cash flows as of 2011
Guaranteed Capacity Payments (R$ million) ** Gross Revenues (R$ million) ***
PPAs in the Regulated Market start Average Dispatch = 65%
1400
in Jan 2012 and Jan 2013
1400 1,216 1,199 1,208
1200 1,147
1200
1000
1000
15-yr PPAs
800 692 800
600 600
474 219
400 400 314
230*
200 200
243
0
0
2012 2013
2011 2012 2013 2014 2015
Itaqui Pecém I Pecém II
* Considering the 50/50 partnership with EdB in Pecém I ** As of December 2008
Obs: Excluding Serra do Navio TPP *** In real terms
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6. Porto do Pecém I TPP (720 MW)
► EPC progress on schedule
► Site preparation concluded
► Piles for boilers 1 and 2 drilled
► All key equipment secured
► IDB Board approval
A loan: US$ 147 MM
B loan: US$ 180 MM (final stage of contracting) Pecem Port
► BNDES Board approval
R$ 1,4 billion
► Estimated Disbursement Curve (%) and Total Capex – (In thousands)
2007A 2008A 2009E 2010E 2011E TOTAL
Real (R$) 2.1% 10.1% 45.5% 29.6% 12.7% 1,693,795
Dolar (US$) 2.8% 40.5% 29.4% 15.8% 11.4% 351,365
Euro (€) 0.8% 46.4% 18.8% 30.9% 3.1% 101,657
* Porto do Pecém I is a 50/50 partnership between MPX and Energias do Brasil 6
7. Porto do Pecém II TPP (360 MW)
► EPC progress on schedule
►Site preparation concluded
► Beginning of pile drilling
► All key equipment secured
Construction
► Bridge Loan disbursement completed: R$ 305 million
► Project eligible for BNDES long term financing
► Estimated Disbursement Curve (%) and Total Capex – (In thousands)
2008A 2009E 2010E 2011E 2012E TOTAL
Real (R$) 0.0% 14.8% 57.5% 22.1% 5.6% 746,319
Dolar (US$) 16.3% 37.2% 34.1% 12.4% 0.0% 135,388
Euro (€) 6.3% 69.3% 17.8% 6.5% 0.0% 76,678
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8. Porto de Itaqui TPP (360 MW)
► Ongoing construction work
► EPC progress on schedule
► All key equipment secured
► IDB Board approval
Itaqui Port
A loan: US$ 50 MM
B loan: US$ 90 MM (under negotiation)
► Project eligible for BNB long term financing (R$ 200 MM)
► BNDES Board approval to occur soon
► Estimated Disbursement Curve (%) and Total Capex – (In thousands)
2007A 2008A 2009E 2010E 2011E TOTAL
Real (R$) 1.8% 9.3% 51.5% 25.9% 11.6% 1,067,425
Dolar (US$) 3.2% 45.6% 31.3% 13.1% 6.8% 156,508
Euro (€) 0.4% 46.5% 34.0% 16.2% 2.8% 53,691
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9. MPX Colombia: Creating value...
► 64 boreholes done
► Acquisition of new concession areas in La Guajira and Cesar
+ 20,000 ha (total of 78,000 ha)
► Drilling program accelerated (6 rigs)
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11. MPX also controls a coal mine in Brazil
Seival Mine
• Partnership 70/30: MPX / Copelmi
• Proven resources of 152 MM tons of coal (above
the supply needs of MPX Sul - a 600 MW thermal
plant - for 20 years)
• Operating License granted
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12. Looking ahead: Opportunities for future growth
2,100 MW already licensed
Porto do Açu TPP (mineral coal)
Over 6,000 MW under development
MPX Sul TPP (600 MW)
Castilla TPP (2,100 MW)
Porto do Açu TPP (natural gas) (3,300 MW)
Wind power projects under analysis
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