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
Colombia Acquisition of commerciality for 2
IPO: US$ 1.1 interest in 7 onshore Initiation of drilling gas fields with
billion raised 365 MW contracted in
exploratory blocks in campaign in the estimated production
the A-5 Auction
1,080 MW the Parnaíba basin Parnaíba basin of 6 MM m3/day
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 JV with leading global player E.ON AG
Natural Resources
Açu TPP Natural Gas: >11 Tcf of risked resources
2,100 MW – Coal
Castilla TPP
3,300 MW – Natural Gas in the Parnaiba Basin
2,100 MW
Desalination Seival mine
Plant Sul TPP
740 l/s 727 MW
Seival TPP
600 MW
MPX
JV
5
6. 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 6
8. 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
8
10. 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 10
11. 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 11
12. 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
12
14. 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).
14
15. 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
307 730 817 819
190
2012 2013 2014 2012 2013 2014 2015
Energia Pecém TPP 1 Parnaíba TPP2 – Phase I
EBITDA
Itaqui TPP Parnaíba TPP2 – Phase II
Pecém II TPP
Figures adjusted considering MPX’s stake 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). 15
16. 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$ 132 million
Expected EBITDA margin
(assuming no dispatch): 80%
Energia Pecém is a partnership between MPX (50%) and EDP Brasil (50%)
* From January 2012 16
17. 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$ 120 million
Expected EBITDA margin
(assuming no dispatch): 82%
* From January 2012 17
18. 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$ 200 million
Expected EBITDA margin
(assuming no dispatch): 80%
* From January 2012 18
19. 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$ 1.0 billion
Phase II: R$ 1.1 billion
R$ 825 million and R$ 225 million bridge-loan
disbursed to fund Phase I and Phase II, respectively
Expected EBITDA margin (assuming no dispatch):
Phase I: 51%
Phase II: 43%
19
21. 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 21
22. 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
22
23. 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
23
25. 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 will raise R$1.0 billion through a capital increase
E.ON will also acquire a 10% equity interest in MPX through a capital investment of R$ 850 million
If minority shareholders do not exercise their preemptive rights, E.ON has committed to subscribe up
to R$ 1.0 billion
(*) 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 metric tons of carbon / almost 300
million metric tons of coal
2011 Figures : Cash Position: EUR 6,610 million / Total assets: EUR 152,872 million / Sales: EUR 112,954 million 25
26. NEW MPX OWNERSHIP STRUCTURE
Eike
Free Float E.ON
Batista
~10.0%
MPX
100% 100% 50%
Power MPX- E.ON
Natural 50%
Generation JV
Resources
(with PPA) 50/50
Energia Pecém Seival
(365 MW) 50% 100% 100% 100%
Pecém II OGX Maranhão
(365 MW) 50% Current
Current New
Itaqui Thermal Supply &
Renewable Generation
(365 MW) Power Trading
Pipeline Projects
TPP Parnaíba Pipeline
(1,087 MW) TPP Parnaíba MPX Power and Solar Tauá (1 MW)
Amapari (1,534 MW) Fuel Trading
(12 MW) Açu – Natural Gas
(3,300 MW)
Açu – Coal
(2,100 MW)
Castilla - Coal
(2,100 MW)
Sul and Seival -
Coal (1,327 MW)
26
27. FUTURE GROWTH OPPORTUNITIES
Positions MPX for leadership in the Brazilian and Chilean
energy markets
11GW in Greenfield Licensed Thermal Capacity
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
Total 11,018 10,361
1 Parnaíba - partnership between MPX (70%) and Petra (30%)
27
28. 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
28
29. 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%
29
30. 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.
30
32. FINANCIAL HIGHLIGHTS – POWER GENERATION*
CAPEX (R$ Bi) EBITDA (R$ Bi)
1.0 1.0
1.6
1.5 1.5 0.9
0.8
0.6
0.3 0.2
0.1 0.1
2007 2008 2009 2010 2011 2012** 2013** 2014** 2012 2013 2014 2015
*It also includes a participation interest of 23.3% in onshore blocks in the Parnaíba Basin
**Estimated CAPEX
32
33. ADJUSTED DEBT* (as of Dec 31, 2011)
Debt (R$ million)
740
Total Consolidated Gross Debt: R$ 4,079 million (18%)
3.339
Short term: R$ 740 million (82%)
R$ 600 million bridge loan to Parnaíba => to be paid-off
with draw down from long-term financing expected for
2H2012 Long Term Short Term
Long term: R$ 3,339 million
Debt Maturity Profile**
Average amortization: 14 years (R$ million) 2,516.0
1,415.9
Average cost of debt: 9.15%
910.8
Average tenure: 7.0 years 393.2
242.0
Cash & cash 2012 2013*** 2014 From 2014
equivalents on
** Values incorporate principal + capitalized interest + charges
* The position does not include MPX Colômbia *** R$ 358 million bridge loan to Parnaíba 33
35. CREATING VALUE THROUGH JOINT-VENTURE
WITH E.ON
CCX Spin-off
Creation of major, integrated coal mining
company
Ongoing drilling activities to support a 35 Mtpa
production
Up to R$ 814 million in cash
Approval of CCX spin-off by MPX debenture
holders => Creation of CCX, an independent
company listed at the BM&F Bovespa Novo
Mercado segment
MPX shareholders will be entitled to one share of CCX for each share of MPX they hold
Independent Resource Certification report expected to 1Q12
35
36. CREATING VALUE THROUGH JOINT-VENTURE
WITH E.ON
Estimated Timetable for the Transaction
May 24, 2012
May 16, 2012
Extraordinary General
May 9, 2012 Shareholders’ Meetings
Deadline to request
April 17, 2012 of MPX and CCX
conversion for
Debenture Holders
debenture holders who Beginning of
Signing of Definitive General Meeting
wish to receive both Subscription Period for
Agreement
MPX and CCX shares MPX capital increase
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