MPX Energia released its 1Q13 earnings report, highlighting: - Revenues of R$196.1 million, up 159.2% year-over-year, driven by capacity additions. - Adjusted EBITDA of R$37.3 million for Itaqui plant and R$32.3 million for 50% owned Pecém I plant. - OGX Maranhão gas field achieving an EBITDA margin of 59.2-60.6% with production of 83.5 million cubic meters in its first 68 days of operation. - Capital expenditures of R$305.6 million in the quarter to expand power generation capacity.

1. 1Q13 Earnings Release
Rio de Janeiro | May, 2013

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.
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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
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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. 1Q13 HIGHLIGHTS & SUBSEQUENT EVENTS
3
E.ON signs definitive agreements to acquire 24.5% of MPX from Eike Batista at
R$10/share
 Subsequent R$ 1.2 billion capitalization of the Company through a primary public offering of
at least R$1.2 billion
 JV MPX-E.ON will be reintegrated to MPX at book value
Capacity in operation reaches 1,396 MW
Volume of energy sold: 1,363 GWh
Consolidated net revenues: R$ 196.1 million in 1Q13 +159.2% in relation to 1Q12
Conclusion of acquisition of TPP MC2 Nova Venécia, with 176 MW, and transfer of the
project to Parnaíba
Agreement with Kinross for implementation of 56 MW gas-fired thermal project in the
Parnaíba Basin

4. 4
Amapari Energia
Parnaíba I, II, III & IV
Exploratory Blocks
Itaqui
Pecém I & II
Tauá
• Total Capacity: 360 MW
• MPX Ownership: 100%
• Start-up: 02/05/2013
• Total Capacity: 23 MW
• MPX Ownership: 51%
• Operating since 2007
• Risked prospective resources: 11
Tcfs
• Current gas production: 4.1
million m3/day
• Total Capacity: 1 MW
• First Solar plant in Latin America
• Parnaíba I: 676 MW
 MPX Ownership : 70%
 Operating full capacity since april
2013
• Additional capacity under
construction:
 Parnaíba II: 517 MW
 Parnaíba III: 176 MW
 Parnaíba IV: 56 MW
• Pecém I: 720 MW
 MPX Ownership : 50%
 Turbine 1 – Start-up: 12/01/12
 Turbine 2 – Start-up: 2Q13
• Pecém II: 360 MW
 MPX Ownership : 100%
 Start-up: 2Q13
POWER PLANTS IN OPERATION AND UNDER
CONSTRUCTION

5. DISCOVERIES
 Fazenda Chicote accumulation - Net pay: 66 mFazenda
Santa Isabel accumulation – Net pay: 24 m
 São Raimundo accumulation – Net pay: 27 m
 3 rigs operating simultaneously: 2 focused on exploration
and 1 completion rig on the production development
GAVIÃO REAL
 Beginning of commercial production in Jan/13
 Current gas production: 4.1 million m3/day
GAVIÃO BRANCO
 Declaration of commerciality presented to ANP
 Total estimated volume in place between 0.2 and 0.5 Tcf
5
PARNAÍBA BASIN: NATURAL GAS E&P

6. FINANCIAL HIGHLIGHTS

7. 7
NET OPERATING REVENUES
75.7
196.1
1Q12 1Q13
159.2%
Net Revenues (R$ MM)
 Consolidated Net Operating Revenues : R$ 196.1 MM in 1Q13.
 Itaqui: R$ 129.6 MM.
 Parnaíba I: R$ 57.5 MM from turbines 1, 2 and 3 as the following
schedule from commercial operation:
Net Operating Revenues - Itaqui
Commercial generation 46.7
Fixed Revenue 29.0
Variable Revenue 17.7
Pass-through of the energy acquisition cost 82.9
Total Net Operating Revenues 129.6
Parnaíba I Commercial Operation
1st turbine 02/01/13
2nd turbine 02/20/2013
3rd turbine 03/29/2013

8. OPERATING EXPENSES
8
Operating Expenses: - 36.9% vs. 1Q12
 Personnel: - 24.3%, highlighted by:
 Optimization of the corporate structure (-R$ 4.3 MM)
 Non-cash expenses related to outstanding stock options plans (-
R$ 2.3 MM)
 Outsourced Services: -45.1%, highlighted by:
 Shared services in the parent company (-R$ 2,4 MM)
 Legal and technical consulting expenses (-R$ 1.8 MM)
 Spin-off of Colombian mining assets (-R$ 6.8 MM)
 Leases and Rents: -60.0%, highlighted by:
 Real estate rental in the parent company (-R$ 0.9 MM)
 Spin-off of Colombian mining assets (-R$ 1.5 MM)
61.9
39.0
1Q12 1Q13
Consolidated Operating Expenses
(R$ MM)
- 36.9%
33.6
23.7
1Q12 1Q13
Parent Operating Expenses
(R$ MM)
- 29.4%

9. ITAQUI
Gross generated energy : 267.5 MWh
Energy sold: 227.3 MWh
Itaqui Adjusted EBITDA: R$ 37.3 MM
Exclusion of non-recurring revenues and
expenses
• Fixed Revenue adjusted to reflect the plant’s full
360 MW capacity
• Revenues and costs related to energy acquisition
eliminated
• Consumption of diesel and coal costs adjusted
so as to reflect steady state operational
standards
Itaqui Income Statement
(in million of R$) 1Q13 Adjusted 1Q13
Gross Generated Energy (GWh) 267.5 267.5
Energy Sold (GWh) 227.3 227.3
Gross Revenues 143.7 72.0
Fixed Revenues 32.2 46.4
Variable Revenues 19.6 19.6
Revenues with Pass Through of Energy
Acquisition
91.9 -
Deductions from Gross Revenue (14.0) (7.0)
Net Operating Revenue 129.7 65.0
Operating Costs (221.3) (24.0)
Costs with Energy Acquisition (164.9) -
Cost of Coal (19.0) (10.7)
Cost of Diesel Oil (24.7) (0.5)
Other Costs (12.8) (12.8)
Operating Expenses (3.6) (3.6)
EBITDA (95.3) 37.3
EBITDA Margin (%) -73.5% 57.5%
9

10. PECÉM I (50%)
Gross generated energy : 496.4 MWh
Energy sold: 427.1 MWh
Pecém I Adjusted EBITDA: R$ 32.3 MM
Exclusion of non-recurring revenues and expenses
• Fixed Revenue adjusted to reflect only 1 turbine (360
MW)
• Revenues and costs related to energy acquisition
eliminated
• Consumption of diesel and coal costs adjusted steady
state operational standards
Pecém I (50%) Income Statement
(in million of R$) 1Q13
Adjusted
1Q13
Gross Generated Energy (GWh) 496.4 496.4
Energy Sold (GWh) 427.1 427.1
Gross Revenues 116.1 58.9
Fixed Revenues 35.7 35.7
Variable Revenues 23.3 23.3
Revenues with Pass Through of Energy
Acquisition
57.2 -
Deductions from Gross Revenue (12.4) (6.3)
Net Operating Revenue 103.8 52.7
Operating Costs (173.6) (18.5)
Costs with Energy Acquisition (135.5) -
Cost of Coal (21.5) (6.5)
Cost of Diesel Oil (5.0) (0.4)
Other Costs (11.5) (11.5)
Operating Expenses (1.9) (1.9)
EBITDA (71.7) 32.3
EBITDA Margin (%) -69.1% 61.3%
Depreciation and Amortization (8.0) (8.0)
EBIT (79.7) 24.3
Net Financial Income (14.4) (14.4)
Other Revenues/ Expenses - -
Current and Deferred Taxes 32.0 32.0
NET INCOME (62.1) 41.9
10

11. OGX MARANHÃO
Growing operating margins
Operations started in Jan/13 at the Gavião Real field, supplying gas for
1st turbine of Parnaíba I OCGT
EBITDA margin of ~ 49% reflects the asset’s profitability
OGX Maranhão (100%)
(in thousand of R$) 1Q13
Operating Period(1)
68 days
Gas Production - in MMm3 (2)
83.5
Gross Revenue(3)
39,279
Deductions from Gross Revenues(4)
(4,522)
Net Revenues 34,757
Production Costs (3,597)
Royalties, Special Part. and Government Part. (2,718)
General and Administrative Expenses (6,317)
Exploration Expenses (5,010)
EBITDA 17,115
(1) Date of closing for book values: 25th day of the month.
(2) Gas production related to OGX Maranhão’s participation in the blocks (70%).
(3) Gross revenues comprised of revenues from gas sales and revenues from lease of the GTU.
(4) Deductions from Revenues: taxes such as PIS/COFINS/ICMS.
-
59.2% 60.6%
jan/13 feb/13 mar/13
EBITDA Margin (%)
3.6
35.4
44.5
jan/13 feb/13 mar/13
Average Gas Production
(MMm3)
11

12. CAPITAL EXPENDITURES
12
 Additionally in 4Q12, MPX invested R$ 9.7 million in the exploratory campaign in the Parnaíba Basin and in the development
of the Gavião Real and Gavião Branco fields.
 According to the new accounting standard, the Consolidated Capital Expenditures does not contemplate Pecém I.
(R$ million) 1Q13 4Q12
Project Capex
Interest
Capitalized
Capex
Interest
Capitalized
Itaqui 65.7 13.7 99.7 39.7
Pecém II 54.0 24.0 23.2 21.7
Parnaíba I 60.7 6.7 117.5 29.5
Parnaíba II 125.2 13.7 107.1 14.2
Total 305.6 58.1 347.5 105.1

13. 13
Debt Maturity Profile (R$ million)
INDEBTEDNESS
Note: Values incorporate principal + capitalized interest + charges and exclude outstanding convertible debentures.
R$ billion Mar/13
Gross Debt (R$ MM) 5.5
Net Debt (R$ MM) 5.1
Average Cost (%) 8.3
Average Tenure (years) 5.0
Dívida de Curto Prazo (2013):
R$ 740.1 million refer to outstanding bridge-loans to Parnaíba I & II power plants
-> to be paid-off with draw down from long-term financing.
R$ 204.5 million refer to debt amortization for Pecém II, Itaqui and Parnaíba I
364.7
2,342.0
208.8 234.2 239.1
2,435.8
Cash & Cash Equivalents 2013 2014 2015 2016 From 2017 on1,498
(27%)
3,962
(73%)
Working Capital Project Finance

14. For more information, contact:
Investor Relations
(55 21) 2163-9215
ri.mpx@mpx.com.br