1

Corporate PresentationCorporate Presentation

X Day: April 14th and 15th, 2008X Day: April 14th and 15th, 2008

2

Disclaimer

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.

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Why investing in the power sector ?

Brazil is likely to experience a strong growth in energy demand in the near future

Demand Evolution (Volume)

Supply & Demand Forecast (Avg. GW) Generation Expansion Alternatives

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

• Government projects

• Political risk

• Challenges for implementation

Coal Thermal Plants

• Abundant reserves

• Highly traded

• Located in areas of relatively low

geopolitical risk

97% 94%85%

75% 74%

3% 6%15%

23% 25% 26%

77%

2002 2003 2004 2005 2006 2007

Regulated - ACR Free Market - ACL

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

Source: PSR Report

Avg. G

W

Demand C

AGR = 4.5%

(~3 G

W year)

4

Ownership Structure

Controlling ShareholderControlling Shareholder

76%

AmapariEnergia

Seival II Porto do Açu Pecém TermopantanalEnergy

Trading CoCastilla Seival MineTermomaranhão

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

� Partners

49% Eletronorte

� Partners

30% Copelmi

� Partners

33% Coop. Rural

de Electrificacion

� Partners

50% EDP

Power GenerationPower Generation Coal SupplyCoal Supply Power MarketingPower Marketing

Free FloatFree Float

24%

MarketMarket CapitalizationCapitalization11

US$ 3.5 US$ 3.5 billionbillion

1 – As of April 10, 2008

2 – According to the material fact released on February 19, 2008

100.0% 2 100.0% 2

Colombian Mines

100.0%

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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 Porto de Itaqui (Maranhão)(720 MW)

UTE Porto do Pecém (Ceará)(1,080 MW)

UTE Porto do Açú (Rio de Janeiro)(5,400 MW)

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

(Rio Grande do Sul)(600 MW)

UHE Baixo Iguacu (Paraná)(350 MW)

UTE Termopantanal(Mato Grosso do Su)(44 MW)

UTE Serra do Navio (Amapá)(23 MW)

PCH Capivara (Amapá)(30 MW)

* Considering the total stake of UTE Açu and UTE Castilla, according to the relevant fact released on February 20, 2008, the amount owned by MPX would be 9,141 MW

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Strategic Positioning

MPX’s business model will evolve towards a stronger role in renewable energy, turning itself into a multi-fuel energy producer

2007 Profile2008 Profile with Açu’s2nd phase with natural gas

Hydro

4%

IGCC/

Coal

41% Coal

55%

Natural

Gas

35%

Hydro

4%

Coal

61%

2015 Outlook

Renewables

10%

Natural Gas

30%

Hydro

8%

Coal

52%

Brazil offers competitive advantages to produce energy based on renewable

sources (solar, biomass, wind)

MPX has already identified some attractive alternatives to be developed in the

near future, such as the partnership with Yingli for solar energy projects

7

5

10

20

1515

35

50

4Q08 3Q09 2Q10 4Q10

Additional Capacity (MW)

Accumulated Capacity (MW)

Solar Energy Projects

A long term strategy that will not require relevant capex in the near future

MoU with Yingli: prospective partnership in solar-based power

generation projects

Evaluate opportunities to implement photovoltaic power plants as

well as photovoltaic modules manufacturing units in Brazil and

Latin America

0-6 months: business plan (investment, operation, maintenance and energy sale)

� Equipments to be supplied by Yingli

� Land and interconnection to the system to be arranged by MPX

� Fiscal incentives

� Local workforce training for construction and operation to be held by MPX

Initial project: pilot plant (50MW)

8

0

5.000

10.000

15.000

20.000

25.000

2007 2008 2009 2010 2011 2012

Germany France

Italy Spain

ROW

Solar Energy at a glance

Sources: UBS and Rise (Research Institute for Sustainable Energy)

0

1

2

3

4

5

6

7

8

9

10

11

12

1990 1995 2000 2005 2010 2015 2020

Wafer Module

Hardware Installation

PV Capex Forecast (US$ / Watt)

High Radiation

LowRadiation

Brazil, with its huge and available areas, is

uniquely positioned to take advantage of

demand growth coupled with low

investment requirements in the future

A new frontier that will become a competitive energy source in the near future

PV Installed Capacity Forecast (MW)

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Source: EDP – UTE Edes/POR - CCT

Coal Thermal Plants using Clean Coal Technology

MPX´s projects will use Clean Coal Technology

� 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 reduction

in fuel consumption and overall emissions

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Social & Environmental Update

Strategy and Actions

Board of Directors

NGOs

Management

Social and Environmental Responsibility

Executive

Officers

Steering

Committee

Communities PartnersPublic

Institutions

• Ecotrópica• IHP• IBio*• Avina

• Itaqui• Pecém• São João da Barra

• Energias do Brasil• Açu clients• Eletronorte• Yingli• FBDS

• Environmental agencies

� RPPNs: 70 thousand hectares nominated as world natural heritage site by UNESCO

� Bioatlantica: Rainforest conservation

� Botanic Garden in Ceará (partnership with Rio de Janeiro’s Botanic Garden): increasing from 20 to 100 hectares

Preservation Initiatives

� New projects in São João da Barra (Rio de Janeiro): where UTE Porto do Açu is located

Recovery of Degraded Areas

� Algaes: partnership with Ceará university and Haifa University (Israel)

� Solar energy projects: MoU with CearáGovernment

� Wind power projects: Rio de Janeiro (110MW)

Renewable Resources

Governance Structure

Even during the pre-operational phase, MPX is already structuring its social and environmental initiatives

* Supported by The Nature Conservancy, Conservation International and others

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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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Business Plan Update Highlights

Porto do Açu 700 MW acceleration (MW)

Jul/2012 Jan/2013 Jul/2013 Jan/2015 Jan/2016 Jan/2017 Jan/2018

700 700 - 1,000 1,000 1,000 1,000

700 700 700 1,100 1,100 1,100 -

Business Plan

Update

Castilla adjustment (MW)

Jul/2012 Jan/2013 Jul/2013 Jan/2014

700 - 700 -

350 350 350 350

Business Plan

Update

Itaqui ( MW, 2nd phase)

Jan/2013 Jan/2014

360 -

- 360

Business Plan

Update

Capex curve (%)

2008 2009 2010 2011 2012 2013 2014

2% 15% 25% 15% 12% 10% 10%

4% 13% 15% 19% 17% 13% 10%

Business Plan

Update

The update of some projects start-up and a more comfortable disbursement schedule enhanced our Business Plan

2015

8%

6%

2016

2%

2%

2017

1%

-

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Business Plan Comparison

15%

25%

15%

12%10% 10%

8%

4%

13%

15%

19%17%

13%

10%

6%

0%2% 2% 1%2%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Feasibility study

Revision

9.6

8.6

7.6

6.6

5.65.0

2.6

1.2

9.69.6

8.5

7.4

6.3

5.0

2.2

1.2

2011 2012 2013 2014 2015 2016 2017 2018

Feasibility study

Revision

The update of some projects start-up1 and a more comfortable disbursement schedule enhanced our Business Plan

1 - UTEs Porto do Açu, 2nd phase of Porto de Itaqui and Castilla

Annual Capex Disbursement (%)

Installed Capacity Ramp-Up (GW)Projects Start-up (GW)

0,00.6

1.2

2.8

0.9 1.0 1.0 1.0 1.01.11.11.1

1.8

2.8

0.61.1

2011 2012 2013 2014 2015 2016 2017 2018

Feasibility study

Revision

14

Uses and Sources up to 2012 & DCF

1,200

9,700

600

300

7,400

300

1,100

Capex Financial

Expenses

Pre-op

Capex and

Working

Capital

Total of

Uses

IPO

Proceeds

Debt Cash Flow Customer

Advances

Equity Sale

Açu and

Castilla

The transfer, to MPX, of Centennial 30% stake in Porto do Açu and Castillaprojects will represent additional cash to the Company

10,300

Porto do

Pecém

Porto do

Itaqui

Porto do Açu Castilla Seival II Other

projects

Total IPO Centennial

(phase 1 Açu

and Castilla)

Centennial

(Açu phase

2)

Updated

Business

Plan

Demonstrative DCF

Centennial contribution

Uses and Sources

US$ million

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Coal Supply Update

MPX has made significant progress in order to secure coal supply to its plants

Mozambique Update: feasibility study by AMCI to be concluded in June

► Colombia

► Australia

► South Africa/Mozambique

Alternatives under analysis

Colombia

► MPX Colombia branch established

► General Manager of MPX Colombia hired

► 2 concession areas secured

► Additional opportunities under analysis

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Cerrejon Sur

El Paso

MPX Coal Mining Rights in Colombia

Potential geological resources estimated to be greater than 150 million tons

La LomaPribbenowDrummond

Cerrejón(Anglo American/Xstrata/BHP)

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Existing and future infrastructure in Colombia

BARRANQUILLA

SANTA MARTA

PORT BOLIVAR

RIOHACHA

VALLEDUPAR

CIENAGA

CalenturitasLa Loma

PribbenowDrummond

La Jagua-Carbones del Caribe-Carboandes

-CMU

El Descanso

Guaimaral

TAMALAMEQUE

Cerrejon South

Cerrejon Central

Cerrejon NorthPropuerto

El Hatillo

La Francia

Magdalena

River

El Paso

Cerrejon Sur/Sur

Brisas Port ProjectCienaga Port Project

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MPX Coal Requirements

Strategic goal is to guarantee coal supply and mitigate commodity risk

First production to be dedicated to free market plants

Eliminate commodity risk

Secure upside to the plants with pass through mechanism

-

2

4

6

8

10

12

14

16

18

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Million tons

Free Market

Chile

Regulated Market

Seival

* Figures for 80% average dispatch

Pass throughmechanisms

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MPX Milestones Roadmap

Notes:NTP – Notice to Proceed; EPC – Engineering, Procurement and Construction; MOU – Memorandum of Understanding; PPA – Power Purchase Agreement

1H081H08 2H082H08 1Q091Q09

UTE Porto do Açu (2.100 MW): Environmental Impact

Study filing

UTE Porto de Itaqui:

Installation License

1st phase UTE Porto do Açu: Preliminary License

( 2,100 MW)

1st phase UTE Porto do Açu: Installation License

( 2,100 MW)

UTE Seival II: Preliminary

License

UTE Seival II: Installation License

UTE Castilla: Installation License

UTE Porto de Itaqui: Environmental Impact

Study filing

UTE Castilla: financing Term Sheet

UTE Castilla: Long term financing contract

UTE Porto do Pecém:

Bridge loan

UTE Porto do Pecém: Long term financing contract

UTE Porto do Açu: Long term financing contract

UTE Porto de Itaqui: Long term financing contract

UTE Porto de Itaqui: Bridge loan

UTE Castilla: EPC contract signature

2nd phase UTE Porto do Pecém: MOU for EPC

2nd phase UTE Porto do Pecém: EPC contract

signature

UTEs Porto de Itaqui and Pecém: EPC contract

signature

Porto de Itaqui and Pecém: NTP for EPC and down

payment long lead items

UTE Porto do Açu:

MOU for EPC

UTE Porto do Açu: EPC contract signature

UTE Porto do Açu: NTP for EPC and down payment

long lead items

UTE Seival II: EPC contract

signature

UTE Porto do Açu: Eligibility for BNDES long term financing

Coal mine acquistion in the

international market

UTE Castilla: MOU for PPAsUTE Castilla: PPAs

signature

1st phase UTE Porto do Açu: MOU for PPAs

1st phase UTE Porto do Açu: PPAs signature

Legend:

Environmental Licensing

Funding

Engineering and Construction (EPC)

Power Marketing and Coal Supply

� Accomplished Events

�

Strategic / Extraordinary

UTE Porto do Açu and Castilla 30% stake transference

from Centennial to MPX

Solar Energy: Yinglipartnership

UTE Seival II: NTP for EPC and down payment long

lead items

2nd phase UTE Porto do Pecém: NTP for EPC and down

payment long lead items

2nd phase UTE Porto do

Pecém: Installation License

UTE Porto do Açu: strategic partner selection

UTEs Porto do Açu e Castilla: Bridge loan

UTE Seival II: MOU for

PPAs

Solar energy pilot plant: Selection of the site and

basic engineering

UTE Castilla: strategic partner selection

Solar energy pilot plant

start-up

Solar energy pilot plant: Installation License and

construction

�

�

�

�

�

Participation in the A-5 auction for new energy

�

UTE Castilla:

MOU for EPC

UTE Castilla: “Limited NTP”for EPC (down payment for

long lead items)

�

�

�

1st phase UTE Porto do Açu: PPAs signature

�

1st phase UTE Porto do Açu: MOU for PPAs

ANEEL’s approval to the structure of the Açu project�

20

MPX: commitment with value creation

Leadingpower generation

company

Superiorpower assets

Uniquely positioned to capture

market growth

Experienced management &

proven track record

Strategic partnerships