The document summarizes OSX's organizational structure and strategy for becoming a leading provider of offshore oil and gas equipment and services in Brazil. Key points include: 1) OSX has a strategic partnership with Hyundai, the largest shipbuilder in the world, to build the largest shipyard in the Americas. 2) OSX aims to take advantage of strong demand from OGX and attractive market conditions in Brazil, where local content requirements are increasing opportunities for domestic suppliers. 3) The company has an experienced management team and is working to develop local skills and technology through its training institute.

1. CORPORATE PRESENTATION
APRESENTAÇÃO CORPORATIVA
Rio de Janeiro | August 2012 |
Rio de Janeiro | Julho 2012 |

2. ORGANIZATIONAL STRUCTURE
Controlling
EBX
Shareholder & FREE FLOAT
Management*
77.9% 22.1%
Integrated offshore E&P equipment
HYUNDAI and services provider
10% Holding
90% 100% 100%
OSX LEASING OSX SERVIÇOS
Shipbuilding Unit Leasing Services
* Represented through Centennial Asset Mining Fund LLC. , Eike Batista (indirectly owns 100% of Centennial Asset Mining LLC), Board of Directors and Board of Executive Officers 2

3. OSX PILLARS
Strong Demand
 Priority Rights between OSX and OGX
from OGX
Attractive Market  Expected oil and gas resources to increase to 100 Bboe, with announced
Conditions in investments of US$ 140bn plus
Brazil  Underserved domestic equipment & services market
 Approximately 70% of E&P industry capex supplied locally
Local Content  Key for Brazil’s long-term social and economic development (285,000 jobs in 5
Requirement years)
 Partnership with the largest shipbuilder in the world
Strategic
 State-of-the-art technology and transfer of know-how
Partnership with
 Construction of the largest shipyard of the America's in the Açu Superport
Hyundai
Industrial District
 ITN –Institute of Naval Technology , partnerships with technical institutions and
universities
Training (ITN)
 Absorption and application of Korean technology
 Qualification of 3.100 technical personnel until 2013
Incentivized and
Experienced  More than 30 years experience, on average, in the E&P sector
Management  US$ 30bn in projects and more than 50,000 people under management
Team
3

4. ORGANOGRAM: EXPERIENCED & MOTIVATED TEAM
More than 50 engineers with an average of 26 years experience
Carlos Bellot (34)
CEO
Management Planning Environment, Health and
Heleno Barbosa (33) Safety
Heraldo Albuquerque (27)
Comunicação Commercial Department
Roberta Brandão Rodrigo Lopes (25)
Recursos Humanos
Monica Barbosa
Danilo Baptista( 35) Carlos Bellot (34) Luciano Porto (21) João Borges (20)
Shipyard Operations Officer Operations, Engineering, Chief Legal Officer Chief Financial Officer and
Leasing and Developing Officer Invetor Relations Officer
Ivo Dworschak (35) Anna Kac (34)
Shipbuilding Unit Engineering
Paulo Ricardo (28)
Exploration Campos & (34) Arnaldo Arcadier (34)
Antonio Maceiras ES Construction, Assembly and
Training /ITN xxxxx
Integration
Roberto Toledo (31)
E&P Laboratory
Regina Ozorio (31) Adilson Araújo (29)
New Ventures Contracts & Affiliates
Celso Martins (34) Contratos e Afiliadas
Heleno Barbosa (33)
Onshore Basin
New Projects/Well
Intervention
Ernani Porsche (33)
International Francisco Crisostomo (35)
Operation & Production
Total OSX employees: approx. 650
Total employees involved in the
Eónio Rocha (14) operations: 2500
(xx) Years of experience in the industry
Logistics 4

5. LOCAL CONTENT: RATIONALE AND EVOLUTION
Represents a social & economic development strategy
Has increased significantly in recent ANP bidding rounds
Local Content Requirement Local Content Evolution
Exploration Phase
■ Definition: minimum percentage of equipment and 86%
Development Phase 84%
services contracted by the operator that must be 81%
77%
supplied by local companies 86%
79% 79%
54% 74%
■ Average of 70% in the production development phase 69%
48%
40%
■ Component of the bid for acquisition of E&P Blocks 27%
42% 39%
■ Certification of each item by inspection companies 28%
25%
(guidelines set forth by Federal Government – MME)
1st 2nd 3rd 4th 5th 6th 7th 8th (1) 9th 10th
■ Subject to severe penalties Source: ANP
Note (1) 8th ANP bidding round auction is still under discussion
Local Content Rationale
Notable Companies Committed to Local
■ Boost local oil & gas equipment and services industry Content
■ Incentivize local technology development
■ Substantially increase employment and income
5

6. BRAZILIAN SHIPYARDS
Local shipyards are not prepared to serve expected offshore
E&P equipment demand
Main Shipbuilders in Brazil Current Conditions of Brazilian Shipyards
Mac Laren
EAS ERG Brasfels Mauá Mac
Laren
Committed Slots
Mauá
Site Area (km2) 1,6 0,5 0,5 0,4 0,1
Technology Partner
Steel Processing Capacity Brasfels
(Kton / year)
160 60 50 36 6
Focus on Offshore
Equipment
Logistics
Labor Force
Source: Verax “A construction slot in OSX’s shipyard is worth more than gold” 6

7. SHIPBUILDING UNIT

8. AÇU SUPERPORT
LOCALIZAÇÃO UCN AÇU: SUPERPORTO DO AÇU
A One-Stop Shop for the Oil & Gas Industry
8

9. AÇU INDUSTRIAL COMPLEX
COMPLEXO INDUSTRIAL DO AÇU
A New Cluster for the Offshore and Heavy Industry
METAL MECHANIC POLE PLANNED
CEMENT
PLANTS NEIGHBORHOOD
SILICON ENVIRONMENTAL
VALLEY
RESERVE AREA
40KM2
STEEL/SOLID
BULK LIQUID BULK
LOGISTICS YARD/ OTF
OFFSHORE
INDUSTRIES
COAL
IRON ORE
SUPPLY BOAT
CRUDE OIL
90 km² Industrial Complex (1.5 x larger than Manhattan Island) 9

10. UCN AÇU: THE LARGEST SHIPYARD OF THE AMERICAS
Partnership with Hyundai Heavy Industries
US$ 1.7 bn investment
Steel assembly capacity of
220,000 ton/year
Up to 3,525 m water front
(2,400 m in first phase)
Beginning of construction in
July 2011
Comercial partnership with
Hyundai
Capacity to integrate up to 6
FPSOs and 8 WHPs
simultaneously
Main entrance Industrial facilities Dry Dock
Office buildings Module assembly area Quay
Production workshops (manufacturing of Jacket pre-assembly area Quay Expansion
blocks, structures, accessories and pipes)
Jacket assembly area
10

11. ALMAGESTO MANAGEMENT SYSTEM
Focus on management processes
Project “Almagesto” : Main processes*:
Instrumentalization of Shipbuilding main EHS/EBP
Maintenance
& Facilities
processes and systems Acquisitions
Materials & Logistics
Globally unprecedented systems integration in the
naval construction sector (partnership with SIX).
Engineering
Manufacturing
Project benefits:
Construction
& Assembly
Reduce errors in transmission of
information
Reduce stock and waste
Planning &
Production and productivity real time Programing
information
Commissioning
Processes and
Precise allocation of production costs Managerial
Information
*Illustration only 11

12. UCN AÇU: SHIPBUILDING UNIT SCHEDULE
PACKAGES PROCUREMENT MOBILIZATION
REMOVAL OF VEGETATION 2Q11 P 2Q11 P
PREPARATION OF THE TERRAIN 3Q11 P 3Q11 P
NORTH QUAY AND JACKET'S AREA 1Q12 (LOI)
P 1Q12
P
DRY DOCK 1Q12 (LOI) P 1Q12 P
SOUTH QUAY AND RESPECTIVE RETRO AREA 1Q12 (LOI) P 1Q12 P
INDUSTRIAL BUILDINGS 3Q11 P 4Q11 P
UTILITIES AND INFRASTRUCTURE 3Q11 P 3Q11 P
ADMNISTRATIVE BUILDINGS 3Q12 3Q12
AUXILIARY BUILDINGS 3Q12 3Q12
ELECTROMECHANICAL ASSEMBLY 3Q12 3Q12
SUPERVISION SUPPORT 2Q11 P 2Q11 P
CONSTRUCTION SITE 3Q11 P 3Q11 P
BREAKWATER 1Q11 P 1Q11 P
DREDGING 3Q11 P 3Q11 P
12

13. UCN AÇU: ESTIMATED PARTIAL DELIVERIES
UCN SECTIONS READY 2012 2013 2014
SLOT 1 4th QUARTER - -
SLOT 2 - 1st QUARTER -
BEGINNING OF OPERATION OF NORTH AREA - 1st QUARTER -
MODULE ASSEMBLY AREA - 2nd QUARTER -
INDUSTRIAL FACILITIES - 2nd QUARTER -
SLOT 3 - 3rd QUARTER
SLOT 4 - 3rd QUARTER -
DRY DOCK RETRO AREA - 4th QUARTER -
PRE-ASSEMBLY AREA - 4th QUARTER -
SLOT 5 - 4th QUARTER -
COMPLETION OF CONSTRUCTION - - 2nd QUARTER
13

14. UCN AÇU: FINANCING
Obtained from Fundo da Marinha Mercante (Merchant Marine Fund)
Capex distribution per year/activity
Credit facility: 80% CAPEX
14,4% 63,6% 20,1% 1,9%
Total tenure 21 years with a 42/36-month 2011 2012 2013 2014
grace period for amortization of principal and
36/30-month grace period for payment of
DESCRIPTION OSX (US$) LLX (US$)
interest (BNDES/CEF) with an expected
DREDGING AND ENGINEERING 93 90
average interest rate US$ + 3,38% a.a.
BREAK WATER 135 129
QUAY 262 -
Lending agents: BNDES and Caixa BUILDINGS 339 -
Econômica Federal (CEF) DRY DOCK 133 -
ROADS AND PAVING 146 -
EQUIPMENT, ENGINEERING AND
487 -
ENVIRONMENT
OTHERS 119 -
TOTAL $1,714 $219
TOTAL OF US$ 1,933 MM 14

15. UCN AÇU: AERIAL VIEW
15

16. UCN AÇU: AERIAL VIEW
Evolution of the construction of the canal
October | 2011 November | 2011 December | 2011 January | 2012
February | 2012 March | 2012 April | 2012 May | 2012
June | 2012 July | 2012 16

17. UCN AÇU: AERIAL VIEW
Aerial view of the canal: July 25,2012
17

18. UCN AÇU: CONSTRUCTION OF THE CANAL
18

19. UCN AÇU: BUILDINGS
19

20. UCN AÇU: BUILDINGS
Foundations of the building for plate cutting Columns for the steel plate preparation building
Water Treatment Plant
20

21. PRODUCT PORTFOLIO
UCN Açu designed and equipped to meet diverse orders
FPSO Drillship Tanker
Floating, Production, Storage and Drilling units heavily demanded for
Maritime Transportation Unit
Offloading Unit ultra-deep water’s
FPSO OSX-1 : Guanabara Bay, RJ, Brazil Image courtesy of Hyundai Heavy Industries Image courtesy of Hyundai Heavy Industries
WHP PLSV TLWP
Fixed drilling & production Pipe-Laying Support Vessel Tension-Leg Wellhead Platform
platforms ( Wellhead Platform)
Image courtesy of Hyundai Heavy Industries
Image courtesy of IHC Offshore&Marine B.V. Image courtesy of Hyundai Heavy Industries 21

22. ORDER BOOK

23. CURRENT ORDER BOOK
ESTIMATED PRICE CONSTRUCTION OSX LEASING
CLIENT UNIT CAPACITY DELIVERY*
(US$ MM) LOCATION & SERVICES
OGX FPSO OSX-1 80K bopd 610 OK SAMSUNG, KOREA
P
OGX FPSO OSX-2 100K bopd 775 3Q13 KEPPEL, SINGAPORE
P
OGX FPSO OSX-3 100K bopd 800 3Q13 JURONG, SINGAPORE
P
OGX FPSO OSX-4 Expecting Technical Specifications from Client OSX, BRAZIL
P
OGX FPSO OSX-5 Expecting Technical Specifications from Client OSX, BRAZIL
P
OGX WHP-1 30 wells 400-450 2Q14 TECHINT, BRAZIL
P
OGX WHP-2 30 wells 400-450 4Q13 TECHINT, BRAZIL P
OGX WHP-3 Expecting Technical Specifications from Client OSX, BRAZIL P
OGX WHP-4 Expecting Technical Specifications from Client OSX, BRAZIL P
SAPURA PLSV N/A 263 4Q14 OSX, BRAZIL
KINGFISH 11 MRs N/A 732 2Q15 - 4Q17 OSX, BRAZIL
PETROBRAS 2 FPSOs 150K bopd 900¹ 3Q16 - 3Q17 OSX, BRAZIL
* Delivery at the shipyard (ex-installation)
1- OSX with a 49% stake of total contract
23

24. FPSOs

25. FPSO OSX-1: HIGH OPERATIONAL EFFICIENCY
Leasing and O&M contracts with OGX for a period of 20 years
Operational Efficiency (OSX Services) Certifications
Certified by BSI (British Standard Institution)
99% 100% 99,70%
95% 96% ABNT NBR: ISO 9001 Quality Management
ABNT NBR: ISO 14001 Environmental Management
OHSAS 18001: Health and Safety Systems in
the workplace
February March April May June
Age Year’s of experience 1st oil produced on 31/Jan/12 &
1st offloading on 28/Mar/12
20 to 30 years
4% 14%
Less than 20
30 to 40 years 19% years
28%
40 to 50 years 49%
26% From 20 to 30
years
50 to 60 years 32%
28% Greater or equal
Greater than or to 30 years
equal to 60
years
25

26. FPSO OSX-2
Leasing and O&M contracts with OGX for a period of 20 years
Construction Contract
■ EPCI contract signed with SBM
■ Construction of the vessel, turret and topside modules in progress at
the Keppel shipyard in Singapore
■ Main equipment purchase orders have been placed
Main deck undergoing Moonpool lift onboard
■ Bare Boat contract signed between OSX & OGX Conversion/construction
■ Physical progress: approximately 56%
■ Estimated delivery: 3Q13
Debt commitment
■ Facility agreement: US$ 850 million (12 years, LIBOR +4,41% p.a.)
■ Syndicated bank loan: ING, Itaú-BBA and Santander (leaders),
HSBC, Citibank, ABN Amro Bank, Banco do Brasil, NIBC and DnB Nor
Construction of the turret Gas compression module
26

27. FPSO OSX-3
Leasing and O&M contracts with OGX for a period of 20 years
Construction Contract
■ EPCI contract signed with MODEC
■ Conversion and construction of the hull in progress at the
Jurong shipyard in Singapore, with the final dry docking of the
vessel underway
■ Main equipment purchase orders have been placed
■ Physical progress: approximately 52%
■ Estimated delivery: 3Q13
Debt commitment
■ Financing: Senior Secured Bonds US$ 500 mm, maturity
March/2015 at an interest rate of 9.25% pa, payable quarterly
■ Global Coordinator, Joint Lead Manager and Bookrunner:
Pareto Securities and Joint Lead Manager and Bookrunner: DNB
E-house Pull-in deck of the turret
Markets
27

28. FPSOs OSX-4 & OSX-5
Hull designated for OSX-4 Hull designated for OSX-5
Milestones achieved and next steps
The “Gemini Star” and “Suhail Star” Very Large Crude Carriers (VLCCs) will be used in the conversion of the hulls of FPSOs OSX-4
and OSX-5. The Concept Design, Front End Engineering Development (FEED), and Detailed Design for the Process Plants are
following the OSX FLEX Concept. As informed in the previously mentioned order book, OSX awaits technical specifications from its
client OGX regarding characteristics of these units.
Regarding FPSO OSX-4:
■Basic engineering project concluded
■Generator’s and water injection modules with purchase orders placed
■Remaining main equipment’s and services with purchase orders under negotiation
■Hull survey completed
28

29. PETROBRAS CONTRACT: 2 REPLICABLE FPSOs
Integration of FPSOs P-67 and P-70, with an option to integrate
P-72 or P-73
Main highlights:
 Contract signed on 09/Aug/2012
 Contract price: ~US$ 900 million
 Partnership Mendes Júnior Trading e Engenharia S/A (51%) & OSX Construção Naval S/A (49%)
 Scope: Integration and construction of various modules at the OSX Açu Shipbuilding Unit
 Delivery date:
 P-67: 3Q 2016
 P-70: 3Q 2017
 Option to contract the integration of the third FPSO (P-72 or P-73) in up to 18 months from contract
signature by Petrobras, through its subsidiary TUPI B.V.
 Processing capacity: 150K bopd
 Storage capacity: 1.6MM bbl
29

30. WHPs

31. WELL HEAD PLATFORMS
WHP-1 and WHP-2
■ Engineering, Procurement, Construction and Installation (EPCI) agreement with Techint Engenharia e Construção S.A. for WHP-
1 and WHP-2 to be chartered and operated by subsidiaries of OSX to its client OGX in the Campos Basin. WHP-1 will be connected
to FPSO OSX-2 and WHP-2 to FPSO-OSX-3
■ Development of the Basic Project for the jacket and topside by TECHNIP, subcontracted by TECHINT. Contract signed with
Techint
■ Acquisition from TTS/CAMERON of a Drilling Package Unit (DPU) for each of the Units. Project underway.
■ Estimated delivery WHP-1: 2Q 2014
■ Estimated delivery WHP-2: 4Q 2013
WHP-3 and WHP-4
■ Both WHPs were ordered by client OGX to be chartered and operated by OSX subsidiaries. WHP-3 will be connected to FPSO
OSX-4 and WHP-4 to FPSO-OSX-5. As informed in the previously mentioned order book, OSX awaits technical specifications from
its client OGX regarding characteristics of these units.
31

32. PLSV

33. SAPURA CONTRACT: PIPE-LAYING SUPPORT VESSEL
Used for laying and installing flexible pipelines on the seabed
Milestones:
 Contract signed on 24/Feb/2012
 Contract price: US$ 263 million
 Delivery date: 4Q 2014
Main characteristics:
 Length: 135 meters
 Breadth: 24 meters
 Depth: 10 meters
 Flexible lines traction capacity : 300 tons
 Flexible lines capacity: 2,500 tons
 Deadweight: 5,880 tons
33

34. TANKERs

35. KINGFISH CONTRACT: 11 MEDIUM RANGE TANKERS
Used for transportation of oil and clear products
Milestones:
 Contract signed on 9/Mar/2012
 Contract price: US$ 732 million
 Delivery date: 2Q 2015 - 4Q 2017
Main characteristics:
 Total length: 183 meters
 Breadth: 32.20 meters
 Depth: 18 meters
 Deadweight : 47,000 tons
35

36. PARTNERSHIP BRAZIL / KOREA
ITN:
INSTITUTE OF
NAVAL
TECHNOLOGY

37. ITN- INSTITUTE OF NAVAL TECHNOLOGY
Professional Training Program in Shipbuilding
Qualifying the local population PHASE I Qualification and Training
Approx.
City
distance
Work force Population PHASE II Training “on the job”
São João da Barra 20 Km 6,000 33,000  Training activities, technical assistance and supervision of operations in
Campos 40 Km 92. 000 460,000 partnership with Hyundai (40 Korean specialists based in Brazil for 5
years)
Radius Up to 50 Km 98,000 493,000
 80 employees from UCN Açu to be trained at Hyundai’s shipyard in Ulsan,
Korea
Quissamã 75 Km 3000 20,000
 Construction of ITN at UCN Açu, with an area of approximately 1,800 m2
São Francisco 95 Km 3,000 41,000
São Fidelis 100 Km 5,000 37,000  Facilities for workshops, labs, classrooms, auditorium and library
Macaé 130 Km 113,000 206,000  Implementation of systems for simulation of operations of offshore units
Radius 2 Up to 150 Km 222,000 797,000 PHASE III Supply Chain Strengthening
 Identification of suppliers that have the potential to develop new
materials, equipment and innovative work methodologies, focused on
OSX’s potential demand
PHASE IV Technological Innovation
 Establish partnerships with Brazilian and international academic
institutions, focused on the development and assimilation of new
technologies 37

38. ITN- INSTITUTE OF NAVAL TECHNOLOGY
Phase I - Qualification and Training
 More than 19 thousand candidates applied
for 3,100 places in 23 free courses offered in
Metal-Mechanics, Electricity, Metallurgy,
Automation/Instrumentation, O&G,
Automotive Operations, Civil Construction
and Management
 Use of SENAI’s facilities and faculty in the
city of Campos, as well as mobile units in First day of class Mobile units for practical welding
classes
São João da Barra
 Scholarships providing financial assistance,
food and transportation
 Investment in training: R$ 12.7 million
 Classes began in June 2012
 880 students already being qualified
First welding class First electrical class
38

39. FINANCIAL PERFORMANCE
R$ 36.5 MM EBITDA in 1H12 with two business units already in
operation
In millions of BRL OSX Brasil S.A.
1H12 1H11
Gross Revenue - -
Taxes - -
Net Revenue - -
COGS - -
Consolidated
Op. Income - -
1H12 1H11
G&A (24.4) (19.6)
EBITDA (24.4) (19.6)
Gross Revenue 207.9 39.5
Taxes (8.3) (4.7)
Net Revenue 199.6 34.8
COGS (95.7) (25.1)
Op. Income 103.9 9.7
G&A (67.4) (46.4)
Shipbuilding Leasing O&M Services
EBITDA 36.5 (36.7)
1H12 1H11 1H12 1H11 1H12 1H11
Gross Rev - - Gross Rev 103.6 - Gross Rev 104.3 39.5
Taxes - - Taxes - - Taxes (8.3) (4.7)
Net Rev - - Net Rev 103.6 - Net Rev 96.0 34.8
COGS - - COGS (13.4) - COGS (82.3) (25.1)
Op. Income - - Op. Income 90.2 - Op. Income 13.7 9.7
G&A (32.2) (21.1) G&A (2.9) (0.5) G&A (7.9) (5.2)
EBITDA (32.2) (21.1) EBITDA 87.3 (0.5) EBITDA 5.8 4.5
39

40. RI@OSX.COM.BR
+55 21 2555 6914