Ubs pactual presentation

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Brazil 2008 - UBS Pactual Ninth Annual CEO ConferenceBrazil 2008 - UBS Pactual Ninth Annual CEO Conference

February 2008February 2008

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Disclaimer

This presentation relating to MPX Energia S.A. (“MPX”) includes “forward-looking statements”, as that term is defined in the Private Securities Litigation Reform Act of 1995, in Section 27A of the Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All statements other than statements of historical facts are statements that could be deemed forward-looking statements and are often characterized by the use of words such as “projects”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, “may”, “will”, or “intends”, or by discussions or comments about our objectives, strategy, plans or intentions and results of operations. Forward-looking statements include projections regarding our operating capacity, operating expenditures, capital expenditures and start-up dates.

By their nature, these forward-looking statements involve numerous assumptions, uncertainties and opportunities, both general and specific. The risk exists that these statements may not be fulfilled or, even if they are fulfilled, the results or developments described in such statements may not be indicative of results or developments in future periods. We caution participants of this presentation not to place undue reliance on these forward-looking statements as a number of factors could cause future results to differ materially from these statements.

Forward-looking statements may be influenced in particular by factors such as the ability to obtain all required regulatory approvals on a timely basis or at all, exploration for mineral resources and reserves, difficulty in converting geological resources into mineral reserves, and changes in economic, political and regulatory conditions. We caution that the foregoing list is not exhaustive. When relying on forward-looking statements to make decisions, investors should carefully consider these factors as well as other uncertainties and events.

MPX does not undertake to update our forward-looking statements unless required by law. This presentation is neither an offer to sell (which can only be made pursuant to definitive offering documents) nor a solicitation of an offer to buy any securities in the United States, or any other jurisdiction. The securities referred to herein have not been registered in any jurisdiction, and in particular, will not be registered under the U.S. Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.

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.

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• MDX Day Hospital

• Santa Teresa Residence

• La Cañadade Pillar

• Hacienda Castilla

EBX Holding Structure

• AmapáSystem

• CorumbáSystem

• Minas-Rio System

Mining Logistic Oil & GasEnergy Renewables Real Estate Entertaiment

XHOW XHOW

PFXPFX

• Açu Port

• Brasil Port

• Coal Fired Power Plants

MPX Pecém

Termomaranhão

Porto do Açú

Castilla

Seival II

• Diesel / Fuel Oil Power Plants

Serra do Navio

• Natural Gas Power Plants

Termopantanal

• Small Hydro Power Plant (PCH)

Capivara

• Hydro Power Plant (UEH)

Baixo Iguaçú

• Seival Coal Mine

• New Coal Mines Developments

• Water Exploration

• Forests Sustainable Handling

• Mr. Lam

• Pink Fleet

REXREXMMXMMX LLXLLX OGXOGX AMXAMX

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MPX Ownership Structure

Controlling ShareholderControlling Shareholder

76%

Amapari Energia Seival II Porto do Açu Pecém TermopantanalEnergy Trading

CoCastilla Seival MineTermomaranhão

51.0% 99.9% 70.0% 50.0% 67.0% 99.9%70.0% 70.0%99.9%

� Partners

49% Eletronorte

� Partners

30% Centennial

� Partners

30% Copelmi

� Partners

33% Coop. Rural

de Electrificacion

� Partners

30% Centennial

� Partners

50% EDP

Power GenerationPower Generation Coal SupplyCoal Supply Power MarketingPower Marketing

Free FloatFree Float

24%

MarketMarket CapitalizationCapitalization11

US$ 3.2 US$ 3.2 billionbillion

1 – As of February, 1st, 2008

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Why investing in the power sector?

45

50

55

60

65

70

75

2007 2008 2009 2010 2011 2012 2013 2014

Existent / Under Construction Auction for New Energy

MPX Portfolio Energy Demand

Demand Evolution (Volume)Supply & Demand Forecast (Avg. GW)

____________________

Source: PSR

Brazil is likely to experience an energy shortage in the near future

MPX planned capacity will start to kick-in right in the beginning of the most critical periodMPX planned capacity will start to kick-in right in the beginning of the most critical period

Source: PSR Report

Avg.

GW

Demand CAGR = 4.5%

(~3 GW year)

97% 94%85%

77% 73%

3% 6%15%

23% 27%

2002 2003 2004 2005 2006*

Regulated (ACR) Free Market (ACL)

Source: PSR ReportNote: (*) Until September

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Generation Expansion Alternatives

Nowadays, the traditional energy sources in Brazil are dealing with implementation difficulties...

Hydro• Increasing environmental licensing difficulties

• New projects mainly in the Amazon region

• Limited reservoirs

Natural Gas

• Natural gas deficit

• Single supplier

• High LNG prices

• Excessive penalty associated to fuel unavailability

Alternative Sources• Important complementary source

• High price

• Low associated energy

Nuclear / Structuring Projects

... presenting the following structuring alternatives

• Government projects

• Political risk

• Challenges for implementation

Coal Thermal Plants• Abundant reserves

• Highly traded

• Located in areas of relatively low geopolitical risk

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Source: EDP – UTE Edes/POR - CCT

This technology controls the emissions during

the coal combustion:

Reduction of NOx using Low NOx Burner and “Over fire Air“

Reduction of SOx through the installation of a FGD – Fuel Gas Desulfurization

Reduction by 99.99% of particulate material

Clean Coal Technology also aim to improve

the efficiency of a power plant, leading to a

reduction in fuel consumption and overall

emissions

Coal Thermal Plants using Clean Coal Technology

MPX´s projects will use Clean Coal Technology

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Main Projects

Size (MW) MPX (MW)

Coal 9,200 6,800

Hydro 380 260

Natural Gas 44 29

Diesel 23 12

9,647 7,101

UTE Termomaranhão(720 MW)

UTE MPX (Pecém)(1,080 MW)

UTE Porto do Açú(5,400 MW)UTE Castilla

(1,400 MW)UTE Seival II & Seival Coal Mine(600 MW)

UHE Baixo Iguacu(350 MW)

UTE Termopantanal(44 MW)

UTE Serra do Navio(23 MW)

PCH Capivara(30 MW)

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Generation Ramp-Up

2015

2010

2008 2009 2010

2005

2014

2009

2011

2006

2013

2008

2012

2007

2016

2011

2017 2018

Serra do Navio(Diesel)

Total Capacity (GW)

Capacity Addition (GW) per year

Capacity MPX (GW)

Capacity Addition MPX (GW)

Coal Assets

Pecém (Coal) Açu Plant(Coal)

Pecém (Coal) UTE Seival II (Coal)

Açu Plant (Coal)

Termomaranhão(Coal)

Castilla (Coal) Termomaranhão(Coal)

PCH Capivara (Hydro)

Açu Plant(Coal)

Termopantanal

(Natural Gas)

Castilla

(Coal)

Baixo IguAçu(Hydro)

57% of the Output Energy until 20121 with Contracts being finalized57% of the Output Energy until 20121 with Contracts being finalized

MPX will be a leading integrated energy generation player through 9 plants and at least 2 Coal mines (additional developments expected)

Note: 1- Phase I comprised of projects starting before 2012

Seival MineUp to 14mtpy

Mozambique coal mine

Estimate of 3mtpy

3.74.3

5.05.7

6.47.1

1.0 0.70.70.70.70.60.81.9

0.81.8

1.2 1.4

2.5

0.61.0 1.0 1.0 1.01.2

2.6

5.05.6

6.6

7.6

8.6

9.6

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Competitive Advantages

Superior infrastructure strategically located and integrated with Super Ports

Brazilian Existing Port Facilities

� Limited draft (between 10-12m) makes it difficult to

berth large vassels in Paranaguá, Rio de Janeiro,

Vitória and Vilha Velha

� Limited back areas for implementation of projects

� Surrounded by urban areas

Ports Hosting MPX Projects

� World class, state-of-the-art port design and systems

� Deep drafts, more than 15m, with limited need for dredging and capable of berthing Cape Size vessels

� Superiorly structured to receive bulk cargos

� Large land holdings for adjacent industrial complexes

� Complies with International Ship and Port Facility

Security Code regulations

Suape

Salvador

Porto Rio de JaneiroSantos

Paranaguá

Itajaí

Rio Grande

Porto do Açu

Vitória &Vila Velha

Porto do Pecém

Porto do Itaqui

Chile

Port in Punta Cachos

Coal Supply: Colombia

Coal Supply: Mozambique, Indonesia

or South Africa

Coal Supply: Australia

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Shared Self-Production concept

A new concept of generation developed by MPX, focused on the Free Market

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Porto do Açú - Coal Fired Power Plant

Location: Porto do Açú, Rio de Janeiro State

Shareholders: 70%

30% future strategic partner

Fuel: Coal (imported)

Submarket: SE

First Phase:

Capacity: 1,400 MW (2x700 MW)

Environmental Process: started on August/2007

Project site acquired

CAPEX: US$ 2.7 Billions

Start Up Operation – Jul-2012

Off Taker: Free Market (ACL)

Second Phase:

Capacity: 4,000 MW

Environmental Process: will start on January/2009.


Start Up Operation – 2015 (1000 MW / year until 2018)

Off Taker: Free Market (ACL) & Regulated Market (CCEAR)

UTE Porto do Açú(5,400 MW)

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Castilla – Coal Fired Power Plant

Capacity: 1,400 MW (4 x 350 MW)


Location: 3rd Region, near Copiapó City

Shareholder: 70%

30% future strategic partner

Environmental Process: started on September/2007

Feasibility Study started on August/2007


Start Up Operation: Jul-2012

UTE Castilla(1,400 MW)

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Pecém - Coal Fired Power Plant

Location: Ceará State, Pecém Port.

Shareholder: 50%

50%


Submarket: NE

First Phase:

Capacity: 720 MW (2 x 360 MW)

Environmental Process: LI Issued


Start Up Operation – 2011

Off Taker: Regulated Market (CCEAR) and Free Market (ACL)

Second Phase (100% MPX):

Capacity: 360 MW

Environmental Process: starts on january/2008

CAPEX: US$ 0.7 Billion



UTE MPX (Pecém)(1,080 MW)

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Termomaranhão – Coal Fired Power Plant

Location: Maranhão State, near Itaqui Port.

Shareholder: 100%


Submarket: N

First Phase:

Capacity: 360 MW

Environmental Process: with Previous License




Second Phase:

Capacity: 360 MW

Environmental Process: starts on january/2008.




UTE Termomaranhão(720 MW)

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Main Risks and Mitigants

Significant

Execution Risk

Mitigants

� EBX group successful track record

� Highest environmental standards

– “Clean Coal Technology”

– World Bank / Equator principles

� 5 projects already with environmental permits

Environmental Permits Secured Fuel Supply

� Seival Mine + AMCI Group agreement

� Coal is an abundant resource

� Backhaul from iron ore exports

Secured Debt FinancingEnergy Placement

Currency, Commodity, Interest Rates

RisksConstruction Management

� Pecém and Termomaranhão 100% sold

� Anchor off-taking in final negotiations

� Supply & demand imbalance

� Unregulated markets willing to secure long

term energy supply

� Pecém and Termomaranhão secured

� Porto do Açu: US$1bn firm commitment

� BNDES support for infrastructure

� MLAs/ECAs aggressive funding

� EPC lump sum and turn key

� Performance bonds and completion guarantees

� Proven technology, widely used

� EBX track record (Termoceará)

� Management expertise

� Pass-through of fuel costs in the

regulated market

� Own coal mines for coal supply for free

market

� BNDES Debt: stable and low interest

rates

MPX has addressed all critical elements to become the largest private and integrated player in the Brazilian power sector

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Management and Board

Name / Position

MPX has a high skilled, experienced and qualified management…

… combined to a board with a unique track record

Management Other Board Members

Eliezer Batista da Silva

Luiz Rodolfo Landim Machado

Marcelo Cheniaux

Flavio Godinho

Raphael de Almeida Magalhães

Independent Board Members

Eduardo Karrer (46)

CEO

� Former Petrobras Senior Manager, El Paso CEO and Rio

Polímeros CEO� 25 years of experience in the energy sector

� Civil Engineer

Marcus Temke (45)

COO

� Former Rio Polimeros Industrial Director� 23 years implementing and operating industrial plants

� Worked with Degussa (Germany), Sandoz and Rio Polimeros

� Chemical Engineer

Paulo Monteiro (50)

Business Development

� Former Director of Enersul and Termoceará� 25 years of experience in the energy sector

� Electrical Engineer

Rudolph Ihns (50)

CFO

� Former Unisys CFO (Brazil & Germany), Arco Petroleum Products Director (Brazil & USA) and MMX CFO

� 25 years of experience in the financial area� Mechanical Engineer

Xisto Vieira Filho (64)

Power Marketing &

Regulation Director

� Former Eletrobras Director, El Paso Senior VP and Secretary of Energy in the Brazilian Government

� 35 years of experience in the energy sector� Electrical Engineer

Eike Batista (50)

Chairman and Founder

� Founder and CEO of EBX Group, entrepreneurial conglomerate

founded in 1983

Board Members

Luiz do Amaral de França Pereira

Rodolpho Tourinho Neto

Samir Zraick

Bruno Chevalier (43)

Legal Director

� Former partner of Villemor Amaral Advogados, law firm

� Former legal director for Delphi Automotive Systems, and legal

manager in General Motors (Lisbon) and MMX� Lawyer graduation and LLM for Queen Mary College

Senior Advisor

Francisco Gros

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Environmental Excellence

Eliezer Batista Natural Reserve:50 thousand acres in the most

preserved area in South Pantanal, …

Eliezer Batista Natural Reserve:Eliezer Batista Natural Reserve:

50 thousand acres in the most 50 thousand acres in the most preserved area in South preserved area in South PantanalPantanal, , ……

… and Company already envisioning new technologies

…… and Company already and Company already

envisioning new technologiesenvisioning new technologies… MMX already excels in

reforesting…

…… MMX already excels in MMX already excels in

reforestingreforesting……

� Brazil has unique conditions to support CO2 emissions

� Land availability

� Water

� Climate Conditions

� EBX has expertise in managing the environment

� MPX will invest up to US$30 million a year in environment preservation

“Conciliate economic development with nature preservation”

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To sum up…

Leadingpower generation

company

Superiorpower assets

Uniquely positioned to capture

market growth

Experienced management &

proven track record

Strategic partnerships

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Contacts

Andrea Pereira

Investor Relations Manager

[email protected]

+55 21 2555-5279

Daniel Haddad

Investor Relations Analyst

[email protected]

+55 21 2555-4015

www.mpx.com.br