Legal Advice This presentation may include forward-looking statements aboutfuture events or results, in accordance with Brazilian and internationalregulations governing stock markets. Such statements are based onassumptions and analyses made by Wilson, Sons (“the Company”),based on experience, economic environment, market conditions, andexpected future events, many of which are beyond the Company’scontrol. Important factors, which can lead to significant differencesbetween real results and these forward-looking statements, include theCompanys business strategy, national and international economicconditions, technology, financial strategies, developments in thefertilizer industry, financial market conditions, uncertainty regarding theresults of the Company’s future operations, plans, objectives,expectations, intentions, and other factors described in the sectionentitled "Risk Factors“, in the Company’s Preliminary Prospectus filedwith the Brazilian Securities Commission. As a result of these factors,real results of the Company may differ substantially from thoseexpressed or implied in forward-looking statements. 2
Consolidated Results – 2Q08 & 1H08 Net Revenues Operating Profit Double-digit growth in 2Q08 27.1% 36.0% EBITDA +178.6%, Net Income +91.8% Focus on high profit services Delivery of one PSV and one tugboat 248.4 127.2 100.1 182.7 Third-party services at the shipyard 110.2% Reversal of provisions and fiscal credit 55.3% 25.2 27.0 42.0 12.0 2Q07 2Q08 1H07 1H08 Operational 12.0% 19.8% 14.8% 16.9% Margin EBITDA Net Income 49.0% 83.1% 91.8% 178.6% 52.6 30.9 25.6 38.8 35.3 16.1 21.2 9.2 2Q07 2Q08 1H07 1H08 2Q07 2Q08 1H07 1H08EBITDA Net 16.1% 24.3% 19.3% 21.2% 9.2% 20.1% 11.6% 15.6%Margin Margin 3
Highlights Port Terminals Expansion Tecon Rio Grande: 3rd berth - civil work expected to be concluded in 2H08; All necessary equipment in place and operational: 2 STSs and 3 RTGs (1 additional to be delivered); Tecon Salvador: Capacity expansion plan under negotiation with the Port Authority. Towage Diversification of activities - special operations, through the support to offloading and to salvage; Offshore - PSV Launching Contracts already signed with Petrobras; Total of 4 new PSVs: 1 delivered on May 14, 2008 (spot service), 1 to be delivered in September 2008, 1 in 2009; and 1 in 2010. Shipyard Construction Construction of 3 PSVs to be added to WSL fleet; Construction of 4 PSVs for a Chilean Company, in the approximate amount of US$100 million, to be delivered by 2011. Logistics - Dry Port and Perspectives Bonded-warehouse results strengthened by increase in imports and IRS strike. New Projects Projects currently under evaluation in all business segments; Project development: Opportunity Stage, Approach Stage; Data Gathering; Negotiation; and Final Stage; Project targets in Brazil and South America; Shipyard Expansion Plan – outlook given upcoming Petrobras bid.
2Q07 EBITDA -9.9 Results from shipyard operations +2.0 Results from ownership stake in +0.5 Dragaport Net effect from reversal of +0.8 provisions 2Q08 X 2Q07 Absence of CPMF tax charges +0.5 Others +0.5 2Q08 EBITDA -5.6 EBITDA – quarterly and year-to-date Non-Segmented Activities 1H07 EBITDA -14.0 Results from shipyard +2.5 operations Results from ownership -0.2 stake in Dragaport Absence of CPMF tax 1.0 charges 1H08 X 1H07 Others -0.3 1H08 EBITDA -11.110
Net Income 2Q07 9.2 Net Revenues 27.2 2Q08 vs 2Q07Raw materials and Net Income -6.3consumables used Personnel -8.6 expenses Other operating 2.3 expenses Depreciation and amortisation -1.6 expense 2Q08 x 2Q07 (US$MM) Prof it on disposal of property, plant 0.2 and equipment Net Financial 5.3 Results Income tax -2.2 expense Net Income 2Q08 25.611
Net Income 1H07 21.2 65.8 Net Revenues 1H08 vs 1H07 Raw materials and Net Income -21.4 consumables used Personnel expenses -19.2 Other operating -7.6 expenses Depreciation and -2.3amortisation expense 1H08 x 1H07 (US$MM) Profit on disposal of property, plant and -0.3 equipment 5.5 Net Financial Results -2.8 Income tax expense Net Income 1H08 38.8 12
Consistent Investment & Low Leverage Ratios CAPEX LEVERAGE CAPEX EVOLUTION (US$ MM) CURRENCY BREAKDOWN Var. =37.8% Var. =34.2% TOTAL DEBT (USD million) 06/30/2008 03/31/2008 R$ Denominated 6.0 0.1 36.4 USD Denominated 155.6 144.0 19.5 27.2 Total Debt 161.6 144.1 14.1 2Q07 2Q08 1H07 1H08 CAPEX 27,1% 27,1% 27,1% BREAKDOWN LEVERAGE INDICATORS 2Q08 2,7% 2,7% 2,7% 2Q07 2,5% 2,5% 2,5% 35.1% 27.1% 2.7% 26,8% 26,8% 26,8% 0.6% Offshore Net Debt (USD million) 06/30/2008 03/31/2008 2.5% Port Terminals Short Term 15.6 14.0 Shipping Agency Long Term 146.0 130.1 26.8% Logistics Total Debt 161.6 144.1 21.9% 17.1% Towage ( - ) Cash and Equivalents -201.0 -192.5 1,7% 1,7% 1,7% 39,2% 39,2% 39,2% Non-Segmented Activities ( = ) Net Debt/Cash -39.4 -48.4 1.4% 1.7% 39.2% 23.9%Offshore Offshore Offshore Port Terminals Port Port Terminals Terminals Shipping Agency Shipping Agency Shipping Agency Offshore Terminais Portuários Agenciamento MarítimoLogistics Logistics Logistics Towage Towage Towage Non-Segmented Activities Non-Segmented Activities Non-Segmented Activities 13 Logística Rebocadores Atividades não segmentadas
Investor Relations Felipe Gutterres Sandra CalcadoCFO of the Brazilian subsidiary, Legal Investor Relations ManagerRepresentative & Investor Relations E-mail: email@example.com E-mail: firstname.lastname@example.org Telephone: + 55 (21) 2126-4263 Telephone: + 55 (21) 2126-4222 IR website: www.wilsonsons.com/ir IR e-mail address: BOVESPA: WSON11 Bloomberg: WSON11 BZ email@example.com Reuters: WSON11.SA