MPX Corporate Presentation

May 2012

MPX CORPORATE PRESENTATION

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.

DISCLAIMER

2

MPX AT A GLANCE

1

A PROVEN RECORD OF ACHIEVEMENT

4

IPO: US$ 1.1

billion raised

1,080 MW

contracted in the

A-5 Auction

2007 First acquisition of

mining rights in

Colombia

365 MW contracted in

the A-5 Auction

Construction works at

TPP Pecém I begin

2008 Construction works

at TPPs Itaqui and

Pecém II begin

Acquisition of

interest in 7 onshore

exploratory blocks in

the Parnaíba basin

2009

MPX Colombia – 1st

Technical Report:

coal resources of

144 MM tons

License granted for

TPP Parnaiba

(1,863 MW)

Initiation of drilling

campaign in the

Parnaíba basin

2010

TPP Parnaíba licensed

capacity increased to

3,722 MW

Power supply

contracts secured for

1,193 MW and

construction works at

TPP Parnaíba begin

D&M estimates for

risked resources in the

Parnaíba basin

amount to over 11Tcf

Declaration of

commerciality for 2

gas fields with

estimated production

of 6 MM m3/day

2011 MPX/E.ON

partnership

Drawdown of bridge-

loans totaling R$ 1.6

billion for natural gas

production and

power generation in

the Parnaíba Basin

Spin-off of

Colombian coal

assets to a new

company listed at

the BM&FBOVESPA

2012

4

The First Five Years

A DIVERSIFIED ENERGY COMPANYLargest Portfolio Of Integrated Projects In South America

Açu TPP2,100 MW – Coal3,300 MW – Natural Gas

Amapari Energia23 MW

Itaqui TPP360 MW

Energia Pecém720 MW

Pecém II TPP365 MW

Solar Tauá1 MW

Parnaíba TPP1,531 MW

Exploratory blocks11.3 Tcf GN

Seival mine

Seival TPP600 MW

Sul TPP727 MW

Castilla TPP2,100 MW

Desalination Plant

740 l/s

Parnaíba TPP2,191 MW

JV

MPX

Power Generation

Power agreements secured for 3.0 GW

Environmental license for an additional 11 GW

JV with leading global player E.ON AG

Natural Resources

Natural Gas: >11 Tcf of risked resources in the Parnaiba Basin

5

EXPERIENCED MANAGEMENT TEAM TO EXECUTE ON

STRATEGIC VISION

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

Marcus Bernd Temke COO

Over 20 years of experience in operations at multinational corporations

COO at Rio Polímeros S.A.

Holds an MBA from COPPEAD-UFRJ

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

CFO at MMX Mineração e Metálicos S.A.

CFO at Unisys in Brazil and Germany

Eduardo KarrerCEO & IRO

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

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

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

Rudolph IhnsCFO

Xisto Vieira FilhoOfficer for Regulatory Affairs & Commercialization

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

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)

Bruno ChevalierGeneral Counsel

6

INVESTMENT CONSIDERATIONS

2

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 while

unlocking value of Colombian coal assets

Experienced management team to execute on strategic vision

INVESTMENT CONSIDERATIONS

8

EXPOSURE TO BRAZIL’S GROWING ENERGY DEMAND

3

Energy Deficit starting in 2015 = Investment Opportunities

BRAZIL WILL NEED ADDITIONAL 10 AVG GW FROM

2015-2019Power Supply/Demand

Source: ANEEL 10

2015-on: new generation required10 GW avg required from 2015 to 2019

Firm Energy

Energy Load (forecast)

Water storage capacity has stagnated, leading to decreased system autonomy

BRAZIL NEEDS NEW THERMAL CAPACITY TO

INCREASE SUPPLY RELIABILITY

11Source: ONS

Storage Capacity (Southeast)

Storage Capacity (SIN):

Autonomy = [Storage Capacity / (Load – Thermal Generation)]

New thermal plants are necessary to guarantee a reliable power supply.

Northeast = 19%

North = 5%

Storage capacity

stagnation

Southeast = 69%

South = 7%

2001: Energy Deficit(load reduction)1

Actual Reservoir Autonomy: ~ 5 months

Transmission expansion delays will affect reliability of energy supply: greater need for thermal plantes located close to power consumption centers

TRANSMISSION DELAYS REINFORCE THE IMPORTANCE

OF THERMAL PLANTS

12Source: ANEEL

Average delay = 1.2 year103 delays of up to 1 year100 delays greater than 1 year

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

4

POWER AGREEMENTS SECURED FOR 3.0 GWMinimum guaranteed revenues will reach R$ 1.4 billion in 2015

14

TOTAL CAPACITY

(MW)

ADJUSTED CAPACITY

(MW)

ENERGY SOLD (AVG MW)

ANNUAL CAPACITY PAYMENT3 FUEL SOURCE

PPA PERIOD

Energia Pecém TPP1 720 360 615 R$ 272 million Coal 2012-2027

Itaqui TPP 360 360 315 R$ 287 million Coal 2012-2027

Pecém II TPP 365 365 276 R$ 258 million Coal 2013-2028

Parnaíba TPP2 - Phase I 676 473 450 R$ 282 million Natural Gas 2013-2028

Parnaíba TPP2 - Phase II 517 362 450 R$ 237 million Natural Gas 2014-2034

Parnaíba TPP2 - Free Market 338 237 200 R$ 186 million Natural Gas 2019-2029

Total 2,976 2,157 2,306 R$ 1,538 million

Total Capacity: Does not include Amapari TPP and Taua Solar Plant.

Adjusted Capacity/Annual Capacity Payment: Figures adjusted for MPX’s ownership in each project

Notes: 1. Energia Pecém is a partnership between MPX (50%) and EDP Brasil (50%); 2. Parnaíba is a partnership between MPX (70%) and Petra (30%); 3. Capacity Payments are escalated

annually by the IPCA inflation index (Figures as of March, 2012).

STEADY AND PREDICTABLE CASH FLOWS

15

Minimum Guaranteed Gross Revenues3 (MM)Installed Capacity (MW)

2012 2013 2014

720

1,558

1,920

Energia Pecém TPP 1

Itaqui TPP

Pecém II TPP

Parnaíba TPP2 – Phase I

Parnaíba TPP2 – Phase II

CAGR: 63% CAGR: 3

4%

Figures adjusted considering MPX’s stake in each project

Notes: 1. TPP Energia Pecém is a partnership between MPX (50%) and EDP (50%); 2. TPP Parnaíba – Phases I and II are partnerships between MPX (70%) and Petra (30%); 3. Capacity Payments

are escalated annually by the IPCA inflation index (Figures as March, 2012).

2012 2013 2014 2015

190

730 817 819 307

1,113

1,2911,352

EBITDA

ENERGIA PECÉM TPP (720 MW)Execution highlights

The plant is in the commissioning phase

Coal conveyor belt already in operation

Next steps:

Steam to turbine and Turbine no load test

Synchronization and load tests

Commercial Operation

Estimated Remaining Capex until completion*: R$ 132 million

Expected EBITDA margin (assuming no dispatch): 80%

16Energia Pecém is a partnership between MPX (50%) and EDP Brasil (50%)

* From January 2012

ITAQUI TPP (360 MW)Execution highlights

Currently in hot commissioning stage. First firing of the boiler has been carried out

Turbine assembly completed

FGD (Flue Gas Desulfurization): electrical and instrumentation tests completed

Estimated Remaining Capex until completion*: R$ 120 million

Expected EBITDA margin (assuming no dispatch): 82%

17* From January 2012

PECÉM II TPP (365 MW)Execution highlights

The plant’s main equipment is in the final stage of construction and assembly

The coverage of the metal structure in the turbine building and the assembly of the surface condenser are in the process of being completed

Estimated Remaining Capex until completion*: R$ 200 million

Expected EBITDA margin (assuming no dispatch): 80%

18* From January 2012

PARNAÍBA TPP – PHASES I (676 MW) & II (517 MW)Execution highlights

EPC contracts signed with Duro Felguera (Phase I) and Initec Energia (Phase II) Implementation initiated and site preparation advanced

3 turbines and 3 electrical generators on site and other 2 already shipped to Brazil

Partnership with GE ensures timely equipment supply

Estimated Remaining Capex until completion: Phase I: R$ 1.0 billion

Phase II: R$ 1.1 billion

R$ 825 million and R$ 225 million bridge-loan disbursed to fund Phase I and Phase II, respectively

Expected EBITDA margin (assuming no dispatch): Phase I: 51%

Phase II: 43%

19

ATTRACTIVE MONETIZATION OF NATURAL GAS RESOURCES

5

MPX OWNS 23% OF A UNIQUE ONSHORE NATURAL

GAS PORTFOLIO

Ownership Structure:

2 commercial production fields under development: Gavião Real and Gavião Azul

Prospective risked resources surpass 11 Tcf (2.0 bi boe)

3 drill-rigs in operation and 3 seismic crews in the region

Exploratory campaign has identified 4 accumulations and

over 20 prospects

14 exploratory wells planned until the end of 2013 at a cost of approximately US$ 15 MM per well 21

OGX MaranhãoBlocks

Total area:24,500 km²

On schedule to start production at Gavião Real and Gavião Azul in 2H2012 Estimated capacity in 2013: 6 MM m³/day (212

MM ft³) 6 development wells concluded and 2 in

progress Construction of Gas Treatment Unit initiated

(EPC by Valerus-Geogas)

Competitive costs: Estimated capex: US$ 450 MM Maintenance capex: < US$ 1.0 MM/year Average operating cost: US$ 0.30/1,000ft³

R$ 600 million bridge-loan to fund production development disbursed in January 2012

GAS PRODUCTION IS PLANNED TO START IN 2H12Initial production of 6 MM m3/day will supply TPP Parnaíba – Phases I & II

22

Thermal power plant located at < 2km from gas fields 2.2 GW licensed and still uncontracted

could demand further 11 MM m3/day Inexpensive connection to the

electrical grid

Limited competition in natural gas

Tax-advantaged region can attract industrial investments with gas is available

ATTRACTIVE OPPORTUNITIES TO MONETIZE

ADDITIONAL PRODUCTIONEfficient Integration of Natural Gas Resources with Energy Production

23

JOINT-VENTURE WITH E.ON TO DEVELOP ROBUST PIPELINE OF THERMAL PROJECTS

6

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 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 will raise R$1.0 billion through a capital increase E.ON will also acquire a 10% equity interest in MPX through a capital investment of R$ 850 million

If minority shareholders do not exercise their preemptive rights, E.ON has committed to subscribe up to R$ 1.0 billion

CREATING VALUE THROUGH JOINT-VENTURE WITH

E.ONLeveraging Strong Complementary Capabilities to Enhance Growth

25

(*) E.ON has one of the broadest and most diverse power and gas asset bases in Europe.

Installed Capacity: 69 GW

2011 Traded Volumes: 2,000 billion kWh of power / 2,500 billion kWh of gas / 600 million metric tons of carbon / almost 300

million metric tons of coal

2011 Figures : Cash Position: EUR 6,610 million / Total assets: EUR 152,872 million / Sales: EUR 112,954 million

NEW MPX OWNERSHIP STRUCTURE

26

Eike Batista

Free Float

Power Generation(with PPA)

E.ON

Natural Resources

~10.0%

100% 100%

50%

50%

100%50%

50%

100%Energia Pecém (365 MW)Pecém II (365 MW)Itaqui (365 MW)TPP Parnaíba (1,087 MW)Amapari (12 MW)

Seival

OGX Maranhão

TPP Parnaíba (1,534 MW) Açu – Natural Gas (3,300 MW)Açu – Coal (2,100 MW)Castilla - Coal (2,100 MW)Sul and Seival - Coal (1,327 MW)

MPX Power and Fuel Trading

Solar Tauá (1 MW)

New Generation

Projects

Current Thermal

Power Pipeline

Supply & Trading

Current Renewable

Pipeline

MPX- E.ON JV

50/50

MPX

100%

11GW in Greenfield Licensed Thermal Capacity

FUTURE GROWTH OPPORTUNITIESPositions MPX for leadership in the Brazilian and Chilean energy markets

CURRENT THERMAL PIPELINE

TOTAL CAPACITY

(MW)

ADJUSTED CAPACITY (MW)

FUEL SOURCE

Parnaíba1 2,191 1,534 Natural Gas

Açu 3,300 3,300 Natural Gas

Açu 2,100 2,100 Coal

Castilla (Chile) 2,100 2,100 Coal

Sul and Seival 1,327 1,327 Coal

Total 11,018 10,361

1 Parnaíba - partnership between MPX (70%) and Petra (30%)

27

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

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

Located 700 Km North of Santiago

Port concession and environmental license granted

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

Desalination plant capacity: 740 l/s

Strategically located in a region with significant pent-up demand for energy and water

CASTILLA: 2.1 GW IN COAL-FIRED CAPACITY IN

CHILECastilla is the largest licensed greenfield power plant in the SIC

28

AÇU: A 5.4 GW GREENFIELD GENERATION COMPLEX3.3 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%29

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.

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

30

FINANCIAL HIGHLIGHTS

7

FINANCIAL HIGHLIGHTS – POWER GENERATION*

32

EBITDA (R$ Bi)CAPEX (R$ Bi)

**Estimated CAPEX

2012 2013 2014 2015

0.2

0.9

1.0 1.0

*It also includes a participation interest of 23.3% in onshore blocks in the Parnaíba Basin

2007 2008 2009 2010 2011 2012** 2013** 2014**

0.1

0.6

0.8

1.5 1.5 1.6

0.3

0.1

Debt Maturity Profile**

(R$ million)

ADJUSTED DEBT* (as of Dec 31, 2011)

33

Total Consolidated Gross Debt: R$ 4,079 million

Short term: R$ 740 million

R$ 600 million bridge loan to Parnaíba => to be paid-off

with draw down from long-term financing expected for

2H2012

Long term: R$ 3,339 million

Average amortization: 14 years

Average cost of debt: 9.15%

Average tenure: 7.0 years

Debt (R$ million)

3.339(82

%)

740(18

%)

Long Term Short Term

* The position does not include MPX Colômbia

** Values incorporate principal + capitalized interest + charges

*** R$ 358 million bridge loan to Parnaíba

Cash & cash equivalents

2012 2014 From 2014 on

2013***

1,415.9

393.2242.0

2,516.0

910.8

CCX

9

Creation of major, integrated coal mining company Ongoing drilling activities to support a 35 Mtpa

production

Up to R$ 814 million in cash

Approval of CCX spin-off by MPX debenture holders => Creation of CCX, an independent company listed at the BM&F Bovespa Novo Mercado segment

CREATING VALUE THROUGH JOINT-VENTURE WITH

E.ONCCX Spin-off

MPX shareholders will be entitled to one share of CCX for each share of MPX they hold

Independent Resource Certification report expected to 1Q12

35

CREATING VALUE THROUGH JOINT-VENTURE WITH

E.ON

Estimated Timetable for the Transaction

36

Signing of Definitive Agreement

April 17, 2012 Debenture Holders

General Meeting

May 9, 2012May 16, 2012

Deadline to request conversion for

debenture holders who wish to receive both MPX and CCX shares

May 24, 2012

Extraordinary General Shareholders’ Meetings

of MPX and CCX

Beginning of Subscription Period for

MPX capital increase

36

For more information, contact:Investor Relations (55 21) 2555-9215

[email protected]