2Q10 Results

08-13-10

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in this presentation or for any consequential, special or similar damages.

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Table of Contents

Power Plants Under Construction

MPX 2Q10 Highlights & Subsequent Events

Financial Performance

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Financial Performance

Natural Gas

Drilling of well OGX-16 in Parnaiba Basin initiated in early July

and gas identified in early August;

Environmental license granted to MPX Parnaíba power

generation complex, to provide up to 1.8 GW of power;

MPX 2Q10 Highlights & Subsequent Events

Power plants under construction (1440 MW): EPC progressing

according to schedule, within contractual deadlines;

Director of Mining and Natural Resources appointed;

Licensing of open-pit mines and port in Colombia progress according to

schedule

Power Plants Under Construction

73%

0%

20%

40%

60%

80%

100%

Jan

/08

Ap

r/0

8

Jul/

08

Oct

/08

Jan

/09

Ap

r/0

9

Jul/

09

Oct

/09

Jan

/10

Ap

r/1

0

Jul/

10

Oct

/10

Jan

/11

Ap

r/1

1

Jul/

11

Oct

/11

Jan

/12

Construction works progressing according to

schedule

Energia PecémEnergia Pecém

Capacity

(MW)

PPA

Start Date

Start-up

Date

Energia Pecém 720 JAN12 3Q11/ 4Q11

MPX Pecém II 365 JAN13 2Q12

MPX Itaqui 360 JAN12 4Q11

5

71%

0%

20%

40%

60%

80%

100%

Jan

/08

Ap

r/0

8

Jul/

08

Oct

/08

Jan

/09

Ap

r/0

9

Jul/

09

Oct

/09

Jan

/10

Ap

r/1

0

Jul/

10

Oct

/10

Jan

/11

Ap

r/1

1

Jul/

11

Oct

/11

Jan

/12

Jan

/08

Ap

r/0

8

Oct

/08

Jan

/09

Ap

r/0

9

Oct

/09

Jan

/10

Ap

r/1

0

Oct

/10

Jan

/11

Ap

r/1

1

Oct

/11

Jan

/12

59%

0%

20%

40%

60%

80%

100%

No

v/0

8

Feb

/09

Ma

y/0

9

Au

g/0

9

No

v/0

9

Feb

/10

Ma

y/1

0

Au

g/1

0

No

v/1

0

Feb

/11

Ma

y/1

1

Au

g/1

1

No

v/1

1

Feb

/12

Ma

y/1

2

Au

g/1

2

No

v/1

2

MPX Pecém IIMPX Pecém IIMPX ItaquiMPX Itaqui

“Early” progress curve “Late” progress curve Actual progress curve OBS: June 2010

Power Plants Under Construction

MPX Itaqui(360 MW)

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Energia Pecém &

MPX Pecém II (1080 MW)

Energia Pecém &

MPX Pecém II (1080 MW)

Power Plants Under Construction

Power Plant Capex (R$ billion)

Energia Pecém* 1.30

MPX Pecém II 1.28

MPX Itaqui 1.62100%

2%

11%

52%60,0%

80,0%

100,0%

120,0%

Curva de Desembolso de

Capex 2007 - 2012

R$ 4,2 bi

Capex Disbursement

Curve 2007-2012

7

MPX Itaqui 1.62

Total 4.20

100%

20%

1% 15%0,0%

20,0%

40,0%

2007A 2008A 2009A 2010E 2011E 2012E Total *Considering MPX 50% stake in Energia Pecém

Consolidated Gross Debt: R$ 1.8 billion

LT: R$ 1.5 billion

ST: R$ 0.3 billion

(As of March 31, 2010)

In 2Q10, MPX reported a net loss of R$ 53.6 million, mainly due to a net financial loss

of R$ 27.0 million.

Financial Performance

Controladora Consolidado

R$ million 2Q10 2Q09 % Var 2Q10 2Q09 % Var

Net Operating Revenues - - - 22.6 13.0 74.6%

Operating Costs - - - (16.5) (7.7) 114.7%

Operating Expenses (24.1) (22.4) 7.4% (47.2) (44.3) 6.5%

G&A (23.6) (22.3) 5.6% (42.8) (42.8) -0.2%

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G&A (23.6) (22.3) 5.6% (42.8) (42.8) -0.2%

Depreciation e Amortization (0.1) (0.1) 14.1% (1.8) (1.5) 22.1%

UTE Porto do Açu Rental (0.4) - - (2.6) - -

Net Financial Result 23.0 (16.8) -237.0% (27.0) (51.3) -47.3%

Equity Income (64.6) (37.8) 70.7% (4.1) 0.0 -

Other Revenues/(expenses) 7.0 0.1 13492.2% (12.9) (0.5) 2682.7%

Current and deferred taxes 5.0 (4.2) - 31.8 9.6 230.0%

Minority interests - - - (0.3) 0.0 -

Net Income (53.6) (81.2) -34.0% (53.6) (81.2) -34.0%

Parnaíba Basin: High Potencial for Gas

MPX identified gas in well OGX-16 in the onshore Parnaíba Basin. A drill stem test indicated

high pressure levels.

First 10 meters in the Devonian Section (at 1,654 m) with significant gas shows;

20 new prospects already mapped with seismic data recently acquired;

5 of the new prospects located in the same trend of the discovery;

Drilling of well OGX-16 expected to continue to a maximum depth of 3,450 m

99

Low exploration costs

- Onshore blocks

Low transportation

costs to supply

integrated thermal

plants

Low exploration costs

- Onshore blocks

Low transportation

costs to supply

integrated thermal

plants

The Parnaíba Integrated Gas & Power Project

Ownership StructureOwnership Structure

MPX will develop gas-fired plants that may add up to 1,863 MW, strategically located on the

PN-T-68 block at 50 km from a 500 kW substation and 30 km from water supply.

OGX

OGX

2/31/3

Licensing

Preliminary License

Granted

MPX Parnaíba

Substation

50 Km

River

30 Km

Site MPX

1010

OGXMaranhão

PETRA

Blocos Exploratórios

UTE

70% 30% 30% 70%

Execution of projects contracted in line with initial planning,

with original returns preserved;

Main milestones for establishment of MPX Parnaíba

generation complex accomplished (license + gas identified);

MPX – Closing Remarks

MPX Sul project completely structured (license + EPC +

financing structure) and ready for the sale of power;

Licensing and engineering studies for Phase I of MPX Colombia

progressing as planned (port + 2 open-pit mines).