1. MPX CORPORATE PRESENTATION

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. 1
MPX AT A GLANCE

4. A PROVEN RECORD OF ACHIEVEMENT
2012
2011
 MPX/E.ON
 TPP Parnaíba licensed partnership
capacity increased to
 Acquisition of
3,722 MW
Greenfield Wind
 Power supply
Projects in Northeast
2010 contracts secured for
Brazil (600 MW)
1,193 MW and
 License granted for
construction works at  Drill-stem test in
TPP Parnaiba
well OGX-88 (Bom
2009 (1,863 MW)
TPP Parnaíba begin
Jesus) concluded
 D&M estimates for
2008  Construction works  Initiation of drilling risked resources in with 36 meters of
at TPPs Itaqui and campaign in the net pay, supporting
 365 MW contracted in the Parnaíba basin
Pecém II begin Parnaíba basin future development
2007 the A-5 Auction amount to over 11Tcf
 Acquisition of  Declaration of  MPX included in the
 IPO: US$ 1.1  Construction works at
interest in 7 onshore commerciality for 2 MSCI
billion raised TPP Pecém I begin
exploratory blocks in gas fields with
 1,080 MW the Parnaíba basin estimated production
contracted in the of 6 MM m3/day
A-5 Auction
4

5. A DIVERSIFIED ENERGY COMPANY
Largest Portfolio Of Power Generation Projects In South America
 Power agreements secured for 3 GW
Amapari Energia
23 MW (Discos = 2.6 GW + Free mkt = 0.4 GW)
Natural Gas Itaqui
Exploratory blocks 360 MW
Pecém I
11 Tcf 720 MW  Environmental license for an additional
Parnaíba Pecém II 10 GW
1,556 MW 365 MW
Parnaíba
2,166 MW Ventos Wind Complex
600 MW + 600 MW  Natural Gas E&P integrated to power
Solar Tauá generation: >11 Tcf of risked gas
1 MW
Açu
resources in the Parnaiba Basin
2,100 MW – Coal
Castilla 3,300 MW – Natural Gas
TBD
Sul Seival mine  Joint-Venture with leading global player
727 MW
E.ON AG
Seival MPX
600 MW
Joint-Venture w/ E.ON
5

6. MPX OWNERSHIP STRUCTURE
Free Float Eike Batista
34.3% 53.9% 11.7% 50%
50% MPX Participações
50% 100% 100% 51% 100% 100% 100%
35% 35%
Pecém I Pecém II Amapari Parnaíba Supply & Ventos
Itaqui TPP Tauá Solar
TPP TPP Energia (expansion) Trading Wind
70% 70% 33% 70% 50% 50%
Açu TPPs
Parnaíba I Parnaíba II OGX Seival
OCGT CCGT Maranhão Coal Mine
50% Sul & Seival 50%
70% TPPs
Natural gas
50% 50%
exploratory Castilla TPP
blocks in the
Parnaíba
Basin
6

7. 2
INVESTMENT HIGHLIGHTS

8. INVESTMENT HIGHLIGHTS
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 and
accelerate growth
Experienced management team to execute on strategic vision
8

9. 3
EXPOSURE TO BRAZIL’S GROWING
ENERGY DEMAND

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)
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. 4
TAX-ADVANTAGED THERMAL POWER PLANTS
COMING ON-LINE STARTING IN 2012

13. OPERATIONS START IN 2012
Fully contracted power plants will generate steady revenues
from 2012 onwards
Installed Capacity (MW) Capacity Payments (R$ billion)
1,920 1.39
1.35
1,558 1.14
720
2012 2013 2014 2013 2014 2015
Capacity Payments
Note 1. Figures adjusted for ownership
Note 2. Capacity Payments are indexed to the IPCA inflation index (Figures shown are in real terms, as of September, 2012)
13

14. POWER AGREEMENTS SECURED FOR 3 GW
Minimum guaranteed revenues will reach R$ 1.4 billion in 2014
TOTAL ADJUSTED
ENERGY SOLD ANNUAL CAPACITY PPA
CAPACITY CAPACITY FUEL SOURCE
(AVG MW) PAYMENT PERIOD
(MW) (MW)
Pecém I 720 360 308 R$ 282 million Coal 2012-2027
Itaqui 360 360 315 R$ 298 million Coal 2012-2027
Pecém II 365 365 276 R$ 268 million Coal 2013-2028
Parnaíba I 676 473 315 R$ 293 million Natural Gas 2013-2028
Parnaíba II 517 362 315 R$ 246 million Natural Gas 2014-2034
Total – Reg Market 2,638 1,920 1,529 R$ 1,387 million
MPX and MMX signed an energy supply contract for 200 average MW, from January 2019 until May 2029, at a base
price of R$ 125/ MWh (as of May 2011).
Note 1. Adjusted Capacity, Energy Sold and Annual Capacity Payment: Figures adjusted for MPX’s ownership in each project
Note 2. Capacity Payments are indexed to the IPCA inflation index (Figures as of September, 2012) 14

15. PECÉM I
PECÉM I
Location Ceará, NE Brazil
Installed Capacity 720 MW
Firm Energy 615 avg MW
MPX Stake 50%
Total Investment R$ 3.0 billion
PPA Period 2012- 2027
Fuel Source Coal
100% contracted in the Regulated Market (pool of distribution companies)
Milestones to commercial operation (DCO):
Unit #1: Electrical load tests –> DCO
Unit #2: Steam blowing –> Reinstatement –> By-pass operation –> Steam-to-turbine –> Electrical tests –> First
synchronization –> Electrical load tests –> DCO
15

16. ITAQUI
ITAQUI
Location Maranhão, NE Brazil
Installed Capacity 360 MW
Firm Energy 315 avg MW
MPX Stake 100%
Total Investment R$ 2.2 billion
PPA Period 2012- 2027
Fuel Source Coal
100% contracted in the Regulated Market (pool of distribution companies)
Milestones to commercial operation (DCO):
Steam to turbine –> Electrical tests –> First synchronization –> Electrical load tests –> DCO
16

17. PECÉM II
PECÉM II
Location Ceará, NE Brazil
Installed Capacity 365 MW
Firm Energy 276 avg MW
MPX Stake 100%
Total Investment R$ 1.5 billion
PPA Period 2013- 2028
Fuel Source Coal
100% contracted in the Regulated Market (pool of distribution companies)
Milestones to commercial operation (DCO):
Construction completion –> Cold commissioning –> First fire –> Steam blowing –> Reinstatement –> By-pass
operation –> Steam to turbine –> Electrical tests –> First synchronization –> Electrical load tests –> DCO
17

18. PARNAÍBA I
PARNAÍBA I OCGT
Location Maranhão, NE Brazil
Installed Capacity 676MW
Firm Energy 450 avg MW
MPX Stake 70%
Total Investment R$ 1.3 billion
PPA Period 2013- 2028
Fuel Source Natural Gas
100% contracted in the Regulated Market (pool of distribution companies)
EPC contract with Duro Felguera
Commissioning phase on schedule to start in 4Q12
A 363 MW expansion (cycle closing) is registered for the 2012 A-3 and A-5 Auctions, both scheduled for December 2012
18

19. PARNAÍBA II
PARNAÍBA II CCGT
Location Maranhão, NE Brazil
Installed Capacity 517 MW
Firm Energy 450 avg MW
MPX Stake 70%
Total Investment R$ 1.3 billion
PPA Period 2014- 2034
Fuel Source Natural Gas
100% contracted in the Regulated Market (pool of distribution companies)
EPC contract with Initec Energia
Assembly of 1st gas turbine underway
19

20. 5
NATURAL GAS E&P

21. MPX OWNS 23% OF A UNIQUE ONSHORE NATURAL
GAS PORTFOLIO
Ownership Structure:
OGX Maranhão
Blocks
Total area:
24,500 km²
Gas Production at Gavião Real field to start in Jan 2013
Discovery Evaluation Plan for Bom Jesus field approved by ANP
Drill-stem test in well OGX-88 concluded with 36 meters of
net pay
2 additional wells drilled with positive results, supporting
development
Exploratory campaign has identified 4 accumulations and over 20
prospects
5 drill-rigs in operation: 3 exploratory wells underway 21

22. GAS PRODUCTION IS PLANNED TO START IN 2H12
Initial production of 6 MM m3/day will supply Parnaíba I & II GTs
On schedule to start production at
Gavião Real in Jan, 2013
 Estimated production capacity in 2013:
7.5 MM m³/day
 16 production wells already drilled
 Commissioning of Gas Treatment Unit
expected in 4Q12
Competitive costs:
 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 Power Generation
2.5 GW licensed and still
uncontracted could demand further
12 MM m3/day
Inexpensive connection to the
electrical grid
Limited competition in gas-fueled
power generation
Tax-advantaged region can attract
industrial investments when gas is
available
23

24. 6
JOINT-VENTURE WITH E.ON TO ACCELERATE
GROWTH

25. CREATING VALUE THROUGH A 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 is one of the world's largest investor-owned power and gas companies with 69 GW of
generation capacity
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 raised R$1.0 billion through a capital increase
 E.ON acquired a 11.7% equity interest in MPX @ R$ 14.7/share
25

26. FUTURE GROWTH OPPORTUNITIES
MPX is positioned for leadership in the Brazilian energy market
Parnaíba GT: Key competitive advantage
through the integration of natural gas Ventos Wind
production and power generation in a tax- Complex
600 MW + 600 MW
advantaged region
Ventos Wind: High-quality greenfield assets in Parnaíba
2,166 MW
one of Brazil’s best wind resource areas
Solar Tauá
1 MW
Castilla
Açu: Studies underway to assess installation of TBD Açu
2,100 MW – Coal
regasification terminal at the port 3,300 MW – Natural Gas
Sul
727 MW
Seival
MPX Sul + Seival: low generation cost in a 600 MW
region with limited hydro potential and
transmission constraints 26

27. VENTOS: A 600 MW WIND COMPLEX IN ONE OF
BRAZIL’S BEST WIND RESOURCE AREAS
High-quality greenfield assets in northeast Brazil
Total Capacity: 600 MW + call option on
additional 600 MW
João
Estimated Load Factor: 48% (P50)
Câmara
Location: Rio Grande do Norte, NE Brazil
RN
Grid connection 30km from Complex
All land rights secured
158.7 MW registered for 2012 energy auctions
Environmental license granted
27

28. 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%
28

29. 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.
29

30. 7
FINANCIAL HIGHLIGHTS

31. STEADY AND PREDICTABLE CASH FLOWS
Installed Capacity (MW) Capacity Payments (R$ billion)
1,920
1.39
1.35
1,558 1.14
720
2012 2013 2014 2013 2014 2015
Pecém I Parnaíba I
Itaqui Parnaíba II
Pecém II
Note 1. Figures adjusted for ownership
Note 2. Capacity Payments are indexed to the IPCA inflation index (Figures shown are in real terms, as of September, 2012) 31

32. INDEBTEDNESS
Debt Profile
R$ billion Jun/12 Sep/12
Gross Debt (R$ MM) 5.1 5.6 33% 37%
Net Debt (R$ MM) 4.0 4.6 Short Term
67% 63%
Average Cost (%) 9.4 8.7 Long Term
Average Tenure (years) 5.6 5.1
Jun/12 Sep/12
Maturity Profile (R$ million) 2,902.4
R$ 1,454 million bridge-loan to 2,095.3
Parnaíba I & II power plants -> to be
paid-off with draw down from long- 1,003.0
term financing
169.8 278.3 265.2
Cash & Cash Equivalents2012 2013 2014 2015 From 2016 on
*Values incorporate principal + capitalized interest + charges and exclude outstanding convertible
debentures.
32

33. For more information, contact:
Investor Relations
(55 21) 2555-9215
ri.mpx@mpx.com.br