Infinity Presentation

0CONFIDENTIAL

BEAR STEARNS RENEWABLE ENERGY SYMPOSIUM July 2007, 10th to 13th.

Infinity Bio-Energy Business Overview

Sérgio Thompson-FloresCEO

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Disclaimer

This presentation contains certain statements, estimates and forecasts with respect to future performance and events. These statements, estimates and forecasts are “forward-looking statements”. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as “may,” “might,” “will,” “should,” “expect,” “plan,” “intend,”“estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue” or the negatives thereof or variations thereon or similar terminology. All statements other than statements of historical fact included in this presentation are forward-looking statements and are based on various underlying assumptions and expectations and are subject to known and unknown risks, uncertainties and assumptions, and may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied in the forward-looking statements. These factors include, but are not limited to, those discussed in our filing of documents with respect to the Alternative Investment Market (AIM) under the caption “Risk Factors”, including, but not limited to, the following: (a) a decline in general economic conditions, (b) losses due to unidentified or unanticipated risks, (c) a lack of liquidity, i.e., ready access to funds, for use in our businesses, and (d) competitive pressure. As a result, there can be no assurance that the forward-looking statements included in this presentation will prove to be accurate or correct. In light of these risks, uncertainties and assumptions, the future performance or events described in the forward-looking statements in this presentation might not occur. Accordingly, you should not reply upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. We do not undertake any obligation to, and will not update any forward-looking statements, whether as a result of new information, future events or otherwise.

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Section

II

Table of Contents

Overview

Current SituationIIIIII

StrategyIIII

Business DevelopmentIVIV

SustainabilityVV

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Infinity Bio-Energy

� Infinity Bio-Energy

� Founded in March 2006� IPO at London Stock Exchange’s AIM in May 2006

� Core Business

� To acquire, build and operate sugar and ethanol production facilities with a focus on Brazil

� To create a vertically integrated company, including delivery logistics to the end-product markets

� Our goal

� To become a global leader in the production and distribution of ethanol

� Team

� The Company has assembled a management team with global experience in sugar and ethanol production and in other industries, and is committed to a strategy of maximizing growth and value creation for our shareholders

Overview

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Company Structure And Timeline

Infinity History

InfinityBio-Energy Ltd.

InfinityBio-Energy BrasilParticipações S/A

Alcana Destilaria deÁlcool de Nanuque

S/AInfinity AgrícolaUsina de Naviraí

S/A

Cristal DestilariaAutônoma de Álcool

S/A

100%

98.14% 100% 56.53% 100%

DestilariaItaúnas S/A

50.1%

Brazil

Jan/06

Mar/06 May/06 Jun/06

Jul/06

Sep/06

Oct/06

Beginning ofCoopernavi’s AcquisitionNegotiation

Constitution ofInfinity Bio-Energy

Closing ofCoopernavi

Infinity’s IPO

Beginning ofCoopernavi’sDue Diligence

Beginning ofAlcana/ Cridasa’s

AcquisitionNegotiation

Beginning ofAlcana / Cridasa’sDue Diligence

Closing ofAlcana/Cridasa

Acquisition

LOI CadasaTerm Sheet

Bioetanol Boca Chica

Beginning ofDisa / Montasa’s

AcquisitionNegotiation

Nov/06

Mar/07

Beginning ofDisa / Montasa’sDue Diligence

Jun/07

2006 2007

(1) Share purchase agreement signed

(1)

Overview

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Infinity business strategy includes the following:

� Create processing clusters around anchor mills, initially in Brazil

� Expand ethanol production capacity through the deployment of capital and best practices in management processes

� Secure key strategic relationships with international customers and logistics and distribution partners to facilitate international expansion

� Optimize financial performance through improved efficiency of agricultural and milling operations and financial management

� Participate in the creation of alternative fuel programs for the adoption of ethanol as a fuel around the world, including country specific ethanol mix programs and flexible fuel vehicle programs

General Strategy

Strategy

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Clusters’ Advantages

� Location� Adequate Weather and soil� Expansion potential� Proximity to transport/ports

� Cost advantages� Cost of sugarcane� Cost of land� Transportation

� Revenue/Pricing advantages� Local market pricing� Tax incentives

� Economies of Scale � Operational Synergies

Strategy

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� 3 sugarcane mills (Usinavi, Alcana and Cridasa)� 2006/07 harvest: 3 million tons of crushing� 2007/08 harvest: 4.1 million tons on schedule - total capacity of 6.2 million tons per year

� Acquisition signed: Disa (operating mill) and Montasa (greenfield project) � Disa’s crushing capacity: 1.5 million (1.129 million tons of sugarcane in 2007/08)� Montasa’s future capacity: approximately 1.8 million tons of sugarcane per year

Existing Mills and Logistics

Alcana MillProduction (k tons)2006/2007: 5542007/2008: 1,000Capacity (1): 1,500

Usinavi MillProduction (k tons)2006/2007: 2,052 2007/2008: 2,315Capacity (1): 3,200

Operating Mills

Focused Regions

(1) Total capacity considering new investment in industrial facilities and in sugarcane crops.

Cridasa MillProduction (k tons)2006/2007: 4102007/2008: 793Capacity (1): 1,500

Current Situation

Cluster 1

Cluster 2

Usinavi

Cluster 1Cluster 1

r = 10km

Laranjaí

Jateí

Iguatemi

MSMS

Rio Paraná

PRPR

UsinaviUsinavi

NaviraNaviraíí, MS, MS Ivaté, PR Maringá, PR ParanaguParanaguáá, PR, PR

372 km 508 km

MS cluster MS cluster –– ParanaguParanaguáá PortPort

((trucktruck plusplus traintrain))

Route:

SourceSource: Transvale, Santa Terezinha : Transvale, Santa Terezinha andand ALLALL

BABAMGMG

ESES Disa

Cluster 2Cluster 2

Lajedão

Cridasa

Alcana

IbirIbiráálcoollcool

MontasaMontasa

AlcanaAlcana

CridasaCridasa

DisaDisa

Pedro CanPedro Canáário, ESrio, ES São Mateus, ES Linhares, ES VitVitóória, ESria, ESSerra, ES

54 km 232 km

ES Cluster ES Cluster –– VitoriaVitoria PortPort

Route:

SourceSource: : CalezaniCalezani

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Infinity Bio-Energy Growth Opportunities Combined Company

3 Existing Sugarcane Mills- Usinavi- Alcana- Cridasa

Sugarcane Crushing (million Tons)06/07A: 3.007/08E: 4.111/12E: 6.2 Full Cap.: 6.2

1 Existing Sugarcane Mill- Disa

4 Greenfields (+ Montasa Project)2 BrownfieldsSugarcane Crushing (million Tons)06/07: N/A07/08E: 1.211/12E: 15.6Full Cap: 16.5

4 Existing Sugarcane Mills5 Greenfields2 Brownfields

Sugarcane Crushing (million Tons)06/07A: 3.007/08E: 5.311/12E: 21.8Full Cap.: 22.7

Pro-Forma Combined Company

+

� Considering the expansion of Infinity over the next 5 years, a total of 21.8 million of tons of

sugarcane will be crushed by 2011 (considering acquisitions plus greenfields and brownfields in

the pipeline), with a full capacity of 22.7 million tons.

Future Vision

Current Situation

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Sugarcane Cost in Brazil

Cluster MS

Ribeirão Preto (SP)

Cluster ES

0.95 x CONSECANA Price

1.15 to 1.25 x CONSECANA Price

Third Party Sugarcane Cost

Metodology based on the price of 28 liters/ton (98% of CONSECANA Price in 2007)

Cluster MS

Ribeirão Preto (SP)

Cluster ES 1,129.03 ATR/hectare

Land Renting Cost ( to own sugarcane production)

1,243.05 ATR/hectare

2,561.36 ATR/hectare

Current Situation

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Raw Material Transportation Costs

R$ US$*

0 Km 5 Km 2.55 1.34

6 Km 10 Km 3.35 1.76

11 Km 15 Km 4.10 2.16

16 Km 20 Km 4.81 2.53

21 Km 25 Km 5.20 2.74

26 Km 30 Km 6.14 3.23

31 Km 35 Km 6.75 3.55

36 Km 40 Km 7.33 3.86

41 Km 45 Km 7.89 4.15

46 Km 50 Km 8.41 4.43

51 Km 55 Km 8.91 4.69

56 Km 60 Km 9.39 4.94

61 Km 65 Km 9.84 5.18

66 Km 70 Km 10.27 5.41

71 Km 75 Km 10.77 5.67

Distance (km) Range

Cost per Ton

* US$ 1.00 = R$ 1.95

1. Source: Ricardo Pinto (IDEA) – 2003/04 costs adjusted to the increase of diesel price.

2. Source: IDEA, IBE

Mills Average Distance Range Cost per ton (US$)

Infinity's Mills 19 km 2.53São Paulo State 24 Km 2.74

(1)

(2)

Current Situation

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Infinity is investing in Pellets Production Facilities, in it’s mills located in Espirito Santo and Mato Grosso do Sul.

From 2009 on, Infinity will be able to supply biomass energy pellets to Customers around the World, being able to guarantee fuel deliveries for long term contracts.

Co-firing Plant in Copenhagen using coal mixed with 15% energy pellets.

Bagasse Pellets

Business Development

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Co-generation

� Electrical energy generation based on bagasse� Energy can be used in the production process� Co-generation surplus can be sold to other companies

� Result

� Improvement in the energy efficiency� Creates use for the byproducts� New source of income� Renewable energy source

Business Development

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Central America and Caribbean

� Ethanol dehydration plant� 400 thousand cubic meters� Targeted tanking storage capacity of 300

thousand cubic meters

� Ethanol processing plant - Caucedo port (Boca Chica)� Projected annual crushing capacity of 2.5

million tons of sugar cane� 210 thousand cubic meters of anhydrous

ethanol

Dominican Republic

Dominican Republic

PanamaPanama

PartnersPartners ProjectProject

Central Azucarero

de Alanje, SA (“CADASA”)

(CADASA is a local producer

of sugar in Panama)

Consorcio Tecno-DEAH SA

Bio Etanol Boca Chica

Etanol Atlântico

� Ethanol dehydration plant and

� Ethanol processing plant - city of David

� Projected annual crushing of 1 to 1.5 million tons

Infinity is actively searching for ways to exploit US Export Preference Agreements through CaribbeanBasin Initiative (CBI) which grants duty-free status to a large array of products from beneficiarycountries into the US, including ethanol

Business Development

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EnvironmentalManagement

Quality Management

SocialManagement

Life Quality

Sustainability View

Sustainability

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Forest plantation and biodiversity

Deforestation induced by sugar cane plantation

Positive impacts

Negative impacts

Local labor

Zero GHG emissions

Soil and water contamination

Long term contracts

GHG emissions

Risk in long term market supply

Waste generation and inappropriate disposal

Ethanol with green seal

Legal compliance

Cash

Flow

Low business risk

Sustainability

�

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Steps in a Sustainable Path

Sustainability