Puerto Triunfo Project

Considerations for combined oilseed crushing and biodiesel processing plant

2

Paraguayan Plant Ideal climate/excellent feedstock availability Plant enjoys private sector and political

support Plant produces positive socioeconomic

impact creating jobs and additional exports Plant creates value added downstream

exports Ready access to foreign commodity markets Paraguay offers attractive tax structure Labor is educated and relatively inexpensive Low cost green electricity

3

Ideal Climate/Expandable Agricultural Base

Soybean yield/acre equal to or greater than Iowa

Over 70 Inches of rainfall annually in immediate area of plant

3 crop cycles per year

Large modern farming complex

Significant (former cotton) acreage lies fallow

4

Paraguay shares the biggest fresh water deposit in the world: The Guarani Aquifer

Paraguay river

Paraná river

Pilcomayo river

Source: Instituto Geográfico Militar - IGM

Extremely Large Hydrographic Basin

5

Economics

Crush: Significant value in crush spread

Oil: Crush creates low cost oil for biodiesel

Meal: Meal provides almost 50% of site

revenue

Biodiesel: Significant competitive advantage

vs. North American feedstock model

Project Revenue: $690 Million + per year

6

Site

At epicenter of oilseed production in

Paraguay. 4 Million metric tons (4 x plant

requirement) grown within 80 miles of the

plant.

Local growers realize logistics benefit

Ready access to world markets via Parana

river

7

Site Advantages, Puerto Triunfo 62 % of oilseed in country grown

within 80 miles of site

8 Farmers Cooperatives nearby

Good feeder road system in place

Low cost hydro-electric power at 2.78 miles from the site

Nearest existing crushers:

100 miles

167 miles (land-locked)

40 miles (smaller land-locked)

Trucking savings for producer

Excellent product insertion point into Mercosur (5 country free trade agreement)

8

Markets: Mercosur and World Markets

Site: Paraná River Barge access to:

A. RosarioB. Buenos Aires

Barge delivery to Mercosur countries

(tariff free) Ocean transport

worldwide

9

Extremely Favorable Tax Environment (Among the lowest in the world)

11.30%14.50%

15.70%17.00%

18.60%20.40%

21.40%

25.30%25.60%

31.60%

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

35.00%

Austra

lia US

Japan

Brazil

Argen

tina

Chile

Urugu

ayIn

dia

Boliv

ia

Parag

uay

Sources: Organization for Economic Co-operation and Development (www.oecd.org) Direccion Nacional de Estadisticas, Encuestas s y Censos (www.dgeec.gov.py)

10

Clean Hydroelectric Power Cost Advantage

$77$71

$20

$37

$50 $51

$18 $18

$11

$0

$10

$20

$30

$40

$50

$60

$70

$80

Co

st

pe

r M

eg

aw

att

Cemig

(Br)

CPFL (B

r)

COPEL (B

r)

UTE (U

y)

CGE (Ch)

Chilec

tra (C

h)

Edela

p (A

r)

Edeno

r (Ar)

Ande

(Par

agua

y)

11

Job Creation & Feedstock Job Creation

250 jobs created in construction phase 50 permanent jobs created in plant operations

Current Feedstock Soy Canola Sunflower

Future Feedstock Jatropha Castor Bean

12

Paraguayan GovernmentFinancial Stability

0

0.5

1

1.5

2

2.5

U.S

. D

ollars

(b

illio

ns)

2002 2003 2004 2005 2006 2007est.

External Debt International Reserves

Source: Banco Central del Paraguay

13

Paraguay: Plant Positively impacts balance of trade

0

1

2

3

4

5

6

7

U.S

. D

oll

ars

(bil

lions)

2002 2003 2004 2005 2006 2007 Est.

Exports I mports