This document summarizes Magnesita's 2Q09 financial results. Some key highlights include: - World steel production increased 8.7% in 2Q09 compared to 2Q08. Steel production in Brazil increased 11.3% in 2Q09. - Magnesita's net operating revenue in 2Q09 was R$454 million, a decrease from R$589 million in 2Q08. Revenue from domestic and export markets both decreased. - Refractories sales accounted for 87.2% of total revenue and revenue from sales to the steel industry was 84%. - Consolidated EBITDA in 2Q09 was R$71.6 million, down from R$192.

1. 1
2Q09 Results
Conference Call

2. 2
2Q09 Highlights

3. 3
Steel Production and Cement Sales
Sources: World Steel Association
and IBS (Brazilian Steel Institute)
* Preliminary Data
Cement Sales in Brazil
(million metric tons)
World Steel Production
(million metric tons)
Steel Production in Brazil
(million metric tons)
355.3
337.2
269.1 262.8
285.7
2Q08 3Q08 4Q08 1Q09 2Q09
+ 8.7%
- 19.6%
12.7
14.3
13.1
11.7 12.2
2Q08 3Q08 4Q08 1Q09 2Q09*
+ 4.3%
- 4.0%
8.8 9.4
6.9
5.0
5.6
2Q08 3Q08 4Q08 1Q09 2Q09
+ 11.3%
-36.8%

4. 4
Revenue and Sales Volume
Sales volume
(thousands metric tons)
* Excludes sale of 210,000 t of magnesium silicate and includes sales from the LWB units for comparison purposes.
Net operating revenue
(R$ `000)
125,627
70,043 72,526
322,999
291,271
353,964
2Q08* 1Q09 2Q09
Domestic Market Exports Market
448,626
361,314
426,490
273,997
174,884 180,214
315,610
276,117 274,015
2Q08* 1Q09 2Q09
Domestic Market Exports Market
589,607
451,000 454,229

5. 5
R$ 454.2 million
Revenue by
Operating Location
Revenue by
Costumer Location
Revenue by
Product
Net Revenues – 2Q09
South
America
48.1%
North
America
12.0%
Europe
22.5%
Asia
12.5%
RoW
4.9%
South
America
55.8%
North
America
13.4%
Europe
23.6%
Asia
7.2%
Refractories
87.2%
Other
Minerals
3.1%
Sinter
4.9%
Services
4.7%
Others
0.1%

6. 6
Refractory Revenue
by Segment
R$ 396.5 million
Refractory Revenue to the Steel Industry
by Business Model
R$ 331.8 million
Refractories Sales – 2Q09
Steel
84%
Others
3%
Cement
13%
By Volume
73.8%
By Performance
26.2%

7. 7
Refractories Revenue
by Material
Refractories Revenue
by Shape
•1 metric ton of magnesite products -> nearly 634 kg of MgO sinter
• 1 metric ton of alumina products -> nearly 535 kg of alumina
• 1 metric ton of dolomite products -> nearly 601 kg of doloma
Refractory Sales – 2Q09
R$ 396.5 million
Basic
Dolomitic
35.8%
Basic
Magnesia
32.9%
Others
31.3%
Bricks
66.8%
Masses
23.4%
Others
9.9%

8. 8
Consolidated EBITDA
R$ ‘000
Debt
R$ million
EBITDA and Debt – 2Q09
192,715
44,430
71,635
32.5
9.9
15.850,000
100,000
150,000
200,000
2Q08 1Q09 2Q09
EBITDA EBITDA Margin (%)
522.1
2,103.8
1,918.6
06/30/2008 03/31/2009 06/30/2009

9. 10
Awards and Certifications
Best Evolution in Investor Relations
(small & mid-cap companies)
EXTERNAL AUDIT: Completely Integrated Certification
Services Ltd.
IS0 9001: To all units
ISO 14001: To Contagem´s unit (in Minas Gerais State)

10. Thiago Emanuel Rodrigues
CFO and Investor Relations Officer
Adriana Fernandes Lana
Investor Relations Manager
Phone: (+55 31) 3368-1069
ri@magnesita.com.br www.magnesita.com.br