Corporate Presentation

05102011

2011

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 purportto be complete. No representation or warranty, express or implied, is made concerning, and no reliance should be placed on, theaccuracy, fairness, or completeness of this information.

This presentation may contain certain forward-looking statements and information relating to MPX that reflect the current viewsand/or expectations of the Company and its management with respect to its performance, business and future events. Forwardlooking 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 likelyresult”, or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties andassumptions. 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 itsaffiliates, directors, officers, agents or employees nor any of the placement agents shall be liable before any third party (includinginvestors) for any investment or business decision made or action taken in reliance on the information and statements contained

Disclaimer

investors) for any investment or business decision made or action taken in reliance on the information and statements containedin 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 recipientsshould consult their own advisors in this regard.

The market and competitive position data, including market forecasts, used throughout this presentation were obtained frominternal surveys, market research, publicly available information and industry publications. Although we have no reason to believethat any of this information or these reports are inaccurate in any material respect, we have not independently verified thecompetitive position, market share, market size, market growth or other data provided by third parties or by industry or otherpublications. MPX, the placement agents and the underwriters do not make any representation as to the accuracy of suchinformation.

This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole orin part without MPX’s prior written consent.

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MPX: a diversified energy company with the largest

portfolio of integrated projects in South America

Power Generation

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Power Generation

� 3 plants (1.4 GW) with power agreements

secured until 2022

� 11 GW portfolio licensed

Natural Resources

� Natural Gas: 11.3 Tcf of risked resources in

the Parnaiba Basin

� Coal: 35 Mtpa production. Full-scale in 2020

And an experienced management team with a proven

track record of turning strategies into execution

� CEO at El Paso Brasil Ltda.and Rio Polímeros S.A.;

� Over 22 years of experience in a wide range of M&A and corporate finance transactions related to the natural resources,

electricity, sanitation and logistics sectors;

� Executive manager for the Gas&Energy and International Markets divisions at Petrobrás.

Eduardo KarrerCEO & IRO

Rudolph IhnsCFO

Xisto Vieira FilhoOfficer for Regulatory Affairs

� CFO at MMX Mineração e Metálicos S.A.;

� CFO at Unisys in Brazil and Germany;

� Over 25 years of experience in the financial area at multinational corporations.

� Former National Secretary for Energy;

� Coordinator of the Subcommittees for Electricity Studies of the Interconnected System and Secretary of National

Energy Policy Committee of Brazil;

� Over 20 years of experience in operations at multinational corporations;

� COO at Rio Polímeros S.A.;

� Holds an MBA from COPPEAD-UFRJ.

Marcus Bernd TemkeCOO

Officer for Regulatory Affairs & Commercialization

Bruno ChevalierGeneral Counsel

Gustavo GomesDirector for Mining & Natural Resources

� Chairman of the Board of Directors of CHESF and Eletrosul and Board member of Eletrobrás, Furnas, Cepel and

Grupo Rede;

� Former president of the National Committee of Cigré (Conference Internationale des Grand Réseaux Électriques).

� Partner at Villemor Amaral Advogados (2002-2004) and Tozzini, Freire & Silva Advogados (2001-2002);

� General Counsel at MMX Mineração e Metálicos S.A.;

� Legal Director at General Motors Corp. in Lisbon and Delphi Automotive Systems.

� Over 25 years of experience in the mining industry (Rio Tinto and BHP Billiton), in technical, operational and

strategic roles;

� Extensive international experience: managed projects in Brazil, India, Australia, US and Canada;

� Holds an MBA from MIT Sloan School of Management.

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The “Carajás” of compliance coal: World-class coal company in Colombia with

outstanding logistics (150 km railway to the coast) and potential resources of over 4

billion tons

Low cost coal production system of 35 million tons per year supplying South America,

US, Europe and the Far East

MPX Highlights

Unique onshore natural gas portfolio with risked resources of over 11 Tcf integrated

to 3,700 MW power generation complex

Largest power project in Chile (2,100 MW), integrated to a deep water dedicated port

Largest licensed power generation portfolio in South America – 11 GW between gas

and coal fired power plants

1,440 MW starting up in 2011 with 100% energy sold under long term PPA’s

CCX, a fully-owned MPX subsidiary in Colombia:

The “Carajás” of compliance coal

Unique geology within MPX’s leases

Large and continuous coal package

In excess of 100 seams

22 seams >1.5m thick

8 coal seams >3m

Potential mineable tons significantly exceed the 900 Mt needed to support a 35Mtpa production

Fully-integrated logistics

Heavy-haul 150km railway: flat route, parallel to existing road

Port: best combination of deep water & flat area in La Guajira

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A low-cost large-scale coal mining system

Large production scale: 35 million tons per year

Competitive mining costs: underground mining cost estimated at approximately US$25/t

Low cost logitics: 150km railway + private deep-water port

PRODUCTION Ramp-up70

80

Cash Cost (FOB)

Energy Content Adjusted Cash Cost (FOB) *

$/tonne

0

5

10

15

20

25

30

35

40

MT

PY

PHASE 1 PHASE 2

. 7

Source: Wood Mackenzie and company analysis *Costs to produce 6,322kcal/kg product

IndonesiaColombia South

Africa

10

20

30

40

50

60

70

Australia RussiaCCX

Cash Cost (FOB)

Set to become a major supplier to the growing

seaborne market

Seaborne coal flow is expected to increase to 1.2 billion tons by 2025* from current 0.5 billion tons

Increasing competitiveness of Colombian coal in Asia: Panama Channel expansion from 2014 and excess capacity for Cape size vessels from 2015 onwards are likely to further reduce freight costs from Colombia to Asia

Seaborne Coal Flow in 2010

. 8Source: GTIS, Macquarie Research, October 2010. *Wood Mackenzie, June 2010.

� Open pit, contractor mining, lean infrastructure

� Road transport by 50t trucks – upside with roadtrain

� Simplified port : mobile belts + shiploader

CCX will start production in 2012, ramping-up to full-

scale in 2020

Phase 1 (5 Mtpa): “Drumbeat” Towards Construction

Phase 2 (35Mtpa): Ramping-up to Unlock Value

� 30Mtpa Longwall underground mining, access through a 5km incline ramp from � 30Mtpa Longwall underground mining, access through a 5km incline ramp from

Cañaverales pit + 5mtpa from open pits

� “Heavy haul” railway, 1.5m gauge track, 12kt trains convoys

� Port in full-setup

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DeGolyer and MacNaughton Estimates (April, 2011)

MPX also holds a unique onshore gas portfolio in the

Parnaiba basin with risked resources of 11.3 Tcf

NATURAL GAS (in billion cubic feet - Bcf)

GROSS

NET

Contingent Resources

3C

3C

Contingent Gas Resources

952

222

Total Prospective Resources (unconventional + conventional)

Mean

Mean

Unrisked Prospective Gas Resources

56,127

13,096

Risked Prospective Gas Resources 10,978 2,561

3 successful wells concluded and 1 well in progress

1 well underway and 12 additional wells planned for 2011

(i) 2C Contingent Gas resources: Gross – 334 Bcf ; Net – 78 Bcf

(ii) Contingent resources: 2 accumulations discovered

(ii) Prospective resources: 6 oil leads and 18 gas prospects

Risked Prospective Gas Resources

10,978

2,561

OIL (in million barrels)

GROSS

NET

Prospective Resources

Mean

Mean

Unrisked Prospective Oil Resources

1,946

454

Risked Prospective Oil Resources

96

22

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Gas produced in the Parnaiba basin will supply an

integrated 3.7 GW power generation complex

Installation License to develop 1,863 MW

granted

Licensing of additional 1,859 MW underway

Power plants strategically located on the PN-T-

68 block with easy access to gas supply

Inexpensive connection to the grid

Exploratory

BlocksTPP

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MPX has the largest licensed greenfield power

generation portfolio in South America

11 GW in licensed greenfield power projects

Natural Gas

� MPX Parnaíba (1,863 MW+1,859 MW*)

� MPX Açu (3,300 MW)

Coal

� MPX Açu (2,100 MW)� MPX Açu (2,100 MW)

� MPX Sul (727 MW)

� MPX Seival (600 MW)

� MPX Castilla (2,100 MW)

Renewables

� Solar: MPX Tauá (1 MW)

* Licensing in process

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Integrated Project: Power Plant + Deep-Water Port + Desalination Plant

SIC: Central Interconnected System (90% of GDP & 92% of population)

Port concession and environmental license granted

Power plant capacity: 6 x 350 MW = 2,100 MW

Desalination plant capacity: 740 l/s

MPX Castilla: license for 2,100 MW

MPX Castilla is the largest licensed greenfield

power plant in Chile

Synergy with CCX: Reliability of coal supply

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Located strategically in a region with significant

pent-up demand for energy and water

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Where potential demand from the mining industry

surpasses 1,500 MW

MINING PROJECT MW REGION START-UP ORE DEVELOPER

CASALE 266 Atacama 2015 Au -

RELINCHO 230 Atacama 2017 Cu -

XSTRATA EL MORRO 170 Atacama 2015 Cu -

CASERONES 150 Atacama 2013 Cu ENDESA

PASCUA LAMA 115 Atacama 2013 Au GUACOLDA

MINERA CANDELARIA 110 Atacama 2012 Cu GUACOLDA (*)

MMX 100 Atacama 2014 H -

MARTE LOBO 82 Atacama 2015 Cu -

CMP-Cerro Negro 31 Atacama 2015 H ENDESA (*)CMP-Cerro Negro 31 Atacama 2015 H ENDESA (*)

CMP PUNTA TOTORALILLO FASE 2 16 Atacama 2015 H ENDESA (*)

CMP PUNTA TOTORALILLO FASE 3 8 Atacama 2015 H ENDESA (*)

CMP-P 6 Atacama 2013 H ENDESA (*)

CMP-R 2 Atacama 2013 H ENDESA (*)

ENAMI DELTA PAN DE AZUCAR 7 Coquimbo 2012 Cu -

MINERA LOS PELAMBRES 200 Valparaiso 2013 Cu ENDESA (*)

CODELCO VENTANAS 70 Valparaiso 2014 Cu GENER

EXPANSIÓN ANDINA 20 Valparaiso 2014 Cu COLBUN

TRES VALLE 14 Valparaiso 2012 Cu PACIFIC HYDRO

EXPANSION EL SOLDADO 11 Valparaiso 2012 Cu COLBUN

LOS BRONCES 95 Metropolitana 2012 Cu COLBUN

CODELCO TENIENTE (NUEVO NIVEL) 200 O´Higgiins 2015 Cu COLBUN

(*) Energy supply contracts currently in place should be renewed

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Total capacity of 5,400 MW

� Imported Coal: 2,100 MW

(Estimated Capex : USD 2,000 / kW)

� Natural Gas: 3,300 MW

(Estimated Capex : USD 1,300 / kW)

Located in one of the most important port-industrial complexes in Latin America

MPX Açu is a 5.4 GW greenfield generation complex

in Southeastern Brazil

Close to 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%.

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Close to natural gas accumulations discovered in the

Campos Basin

OIL COMPANIES

Campos Basin

85% of Brazil’s Oil Production

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Seival Mine

� Partnership 70/30: MPX / Copelmi

� Operating License granted

� 152 MM tons in proven reserves

� 459 MM tons in total resources

� Capex: ~ USD 20 MM

MPX Sul and MPX Seival add up to 1.3 GW and are

located in a region with limited hydro potential

� Capex: ~ USD 20 MM

MPX Sul and MPX Seival

� Capacity: 727 MW + 600 MW

� Coal consuptiom: 1 ton/ MWh

� Estimated Capex: USD 2,400 / kW

� Licenses Granted

� Sinergies between the two projects

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MPX’s 3 power plants under construction are well-advanced, will start up in the end

of 2011/beginning of 2012 and are contracted for a period of 15 years.

CapacityEnergy sold

(avg MW)Term of PPA** EPC progress

Capex

(R$ billion)

Energia Pecém * 720 615 Jan 2012-Dec 2027 90% 1.42

MPX Pecém II 365 276 Jan 2013-Dec 2028 85% 1.34

MPX Itaqui 360 315 Jan 2012-Dec 2027 90% 1.78

MPX will start generating revenues in 2012 as its

contracted power plants start up

MPX Itaqui 360 315 Jan 2012-Dec 2027 90% 1.78

*Energia Pecém is a 50/50 partnership between MPX and EDP

**PPA – Power Purchase Agreement

¹ Energy sold in spot market before PPA start date

² As of Dec/2010

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Energia Pecém and MPX Pecém II

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Energia Pecém and MPX Pecém II

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MPX Itaqui

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Photovoltaics

Installed Capacity: 1 MW (R$ 10 MM

capex)

Environmental License for up to 5 MW

Start up: June/11

Possibility of expanding to 50 MW

MPX Tauá: the first commercial Solar power plant in

Latin America

Possibility of expanding to 50 MW

EPC StatusEnvironmental

Status

Contracted Licensed

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