This document provides a disclaimer and overview of MPX Energia S.A., a Brazilian energy company. It summarizes that MPX has secured 15-year contracts to sell 1,100 MW of electricity capacity. MPX has a portfolio of licensed and developing power projects in Brazil totaling over 6,000 MW. It also has coal assets in Brazil and Colombia. The document outlines MPX's strong financial position with R$1.8 billion in cash reserves and projected operating cash flows beginning in 2011.

1. 090202
February 2009

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

3. MPX: A unique electrical bond
3 projects contracted – 1,100 MW of capacity sold
15-year PPAs secured, with full pass-through of fuel costs
Lump-sum/turn-key EPC contracts secured
Returns way above average electrical sector
2,100 MW already licensed
Portfolio of opportunities
for future growth Over 4,800 MW under development
Coal assets in Brazil and Colombia
3

4. High liquidity and financial strength, yet trading below cash
MPX Projected Cash Position (R$ MM)
Financial strength and liquidity
2.000
R$ 1.8 billion in cash
1.600
Equity requirements from 3
projects ~ R$ 0.9 billion 1.200
800
400
Cash
R$ 265/share 0
2008 2009 2010 2011 2012 2013
Cash excluding equity requirements
R$ 132/share
Current Price Avg. Target Price *
150%
R$ 160/share potential upside R$ 400 / share
* Considering the DCF value from Santander, Itaú, Merrill Lynch and JP Morgan (including only Pecém I, II and Itaqui) 4

5. By 2012, the company will have over 1,100 MW in
installed capacity
MINING RIGHTS
Guajira
ITAQUI TPP
Maranhão
SERRA DO NAVIO TPP Colômbia
Amapá Bogotá
Capacity 360 MW
Fuel Coal
Brazil
Partnership 100%
Capacity 23 MW Brasília AUGUST 2011
Fuel Diesel
51% MPX
Partnership PECÉM I & II
49% Eletronorte
Ceará
IN OPERATION
SEIVAL MINE
Rio Grande do Sul
Pecém I Pecém II
Capacity 720 MW 360 MW
Fuel Coal Coal
50% MPX
Partnership 100%
50% EDP
JUL-OCT/11 & JUN/12
5

6. MPX´s projects will start generating operating cash flows in 2011
Guaranteed Capacity Payments (R$ million) ** Gross Revenues (R$ million) **
PPAs in the Regulated Market start Average Dispatch = 65%
1400
1400 in Jan 2012 and Jan 2013
1,216 1,199 1,208
1200 1,147
1200
1000 1000
15-yr PPAs
800 800
662
600 600
455 207
400 400 314
221*
200 200
234
0 0
2012 2013 2011 2012 2013 2014 2015
Itaqui Pecém I Pecém II
* Considering the 50/50 partnership with EdB in Pecém I
** In real terms, as of September 2008
Obs: Excluding Serra do Navio TPP
6

7. Porto do Pecém TPP is already under construction
Construction
• 720 MW (coal) • 360 MW (coal)
• Installation License • Installation License
(construction underway)
• Start-up: Jun/12
Pecém II
Pecém I
• Start-up: Jul/11 e Oct/11
• 100% MPX
• Partnership 50/50: MPX/EDP
• 15-y PPA Secured
• 15-yr PPA Secured (starting in 2013)
(starting in 2012)
• Full pass-through of fuel
• Full pass-through of fuel costs
costs
Pecem Port
7

8. And site preparation and worksite assembly have already
started in Porto de Itaqui TPP
• 360 MW (coal)
Porto de Itaqui
• Federal (IBAMA) Partial Installation License
• Start-up: Aug/11
• 100% MPX
• 15-yr PPA Secured (starting in 2012)
• Full pass-through of fuel costs
8

9. Cash balance is above equity requirements and final approval of
long term financing is expected soon
Sources of Capital Use of proceeds
Equity Estimated Investment includes:
Cumulative equity disbursement up to 2012; CAPEX necessary to develop Pecém I TPP,
Equity
(R$ 1.2 B) Itaqui TPP and Pecém II TPP;
BNDES (Projects included in the PAC) Includes IDC, capitalized interest and
financing fees;
Pecém I and Itaqui with eligibility for BNDES
and long term financing on domestic content. Working Capital;
Investments
Due diligence concluded for both projects. (R$ 4.6 B) Estimated investments in Colombian
exploratory phase and development phase;
Board approval expected in 1Q09; BNDES
(R$ 2.7 B)
Pecém II with BNDES eligibility for the totality
of the long term financing;
ECA/MLA
Pecém I and Itaqui with eligibility for IDB;
ECA/MLA
Due Diligence concluded for both projects; MPX SG&A
(R$ 0.7 B) SG&A
Cumulative SG&A up to 2012;
Board approval expected in 1Q09 (R$ 0.4 B)
Term sheet completed with IDB/B-lenders Cash
Generation
Interest Income and Operating Cash (R$ 0.6 B)
New
Cash Generation of Pecém I and Itaqui starts in Cash Projects
2011 Availability
MPX S.A. Cash availability by 2012 (R$ 0.8 B)
Note: 1- Estimated based on Company’s projections and assumptions on pre-operational Phase 3- Financing Includes the capitalized interest portion
2- Figures in real terms 4- Equity already includes the Interest During Construction paid
9

10. MPX has already identified coal resources in Colombia
Mining Rights in Colombia
• Cerrejon Sur Sur region – 60 thousand hectars
• Drilling campaign underway – mineral resources already identified
• New areas under analysis
10

11. Negotiations are underway to secure logistics to bring coal from
Colombia to Brazil at competitive costs
11

12. Additionally, MPX controls a coal mine in Brazil with proven reserves
Seival Mine
• Partnership 70/30: MPX / Copelmi
• Proven resources of 152 MM tons of coal (above the
supply needs of a 600 MW thermal plant for 20 years)
• Operating License granted
12

13. MPX currently has over 4,800 MW under development, which will
allow it to benefit from high future energy prices
MINING RIGHTS
Guajira
Colômbia SERRA DO NAVIO TPP
Bogotá Amapá
ITAQUI TPP
Maranhão
PECÉM I & II
Ceará
PORTO DO AÇU
Brazil Rio de Janeiro
Brasília
Chile
Preliminary license for 2,100 MW
CASTILLA TPP (coal) obtained
III Region - Atacama SEIVAL MINE
Santiago Rio Grande do Sul
MPX SUL TPP
Rio Grande do Sul
Licensing process for 2,100 MW
(coal) initiated
Licensing process for 600 MW
(domestic coal) initiated
13

14. Additional Information
14

15. MPX has signed lump-sum/turn-key contracts, ensuring startup of
operations in advance of beginning of energy supply contracts
EPC (Engineering, Procurement and Construction)*
• MABE: Maire Tecnimont and EFACEC
• Incentive mechanisms for anticipation of start-up
• Boilers from Doosan Babcock and turbines from
Siemens
• Contract Guarantees:
Lump-sum/Turn-key contract
Delay Damages
Performance Liquidated Damages
Performance Bond
Advance Payment Bond
Parent Company Guarantee
• Coal Berth defined
* Valid for Pecém I, Itaqui and Pecém II 15

16. And USD-denominated equity disbursements have been fully
hedged
Capex
41%
Porto do Pecém I TPP
Disbursement 28%
• Capex ~ R$ 3,300 / kW Curve
19%
• Considering 65% R$ / 35% US$ 10%
• Hedged @ spot rate of 1.81 R$ / US$ 3%
2007 2008 2009 2010 2011
38%
Porto de Itaqui TPP Disbursement 32%
• Capex ~ R$ 4,000 / kW Curve 23%
• Considering 65% R$ / 35% US$
5%
• Hedged @ spot rate of 1.81 R$ / US$ 2%
2007 2008 2009 2010 2011
54%
Porto do Pecém II TPP Disbursement
• Capex ~ R$ 3,300 / kW Curve
25%
• Considering 57% R$ / 43% US$ 16%
• Hedged @ spot rate of 1.92 R$ / US$ 6%
2009 2010 2011 2012
16