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MPX Corporate Presentation - November 2012

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  • 1. MPX CORPORATE PRESENTATION

2. DISCLAIMERThe material that follows is a presentation of general background information about MPX Energia S.A. and its subsidiaries (collectively, MPXor the Company ) as of the date of the presentation. It is information in summary form and does not purport to be complete. Norepresentation or warranty, express or implied, is made concerning, and no reliance should be placed on, the accuracy, fairness, orcompleteness of this information.This presentation may contain certain forward-looking statements and information relating to MPX that reflect the current views and/orexpectations of the Company and its management with respect to its performance, business and future events. Forward looking statementsinclude, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, andmay contain words like may, plan, believe, anticipate, expect, envisages, will likely result, or any other words or phrases of similarmeaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of importantfactors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in thispresentation. In no event, neither the Company, any of its affiliates, directors, officers, agents or employees nor any of the placementagents shall be liable before any third party (including investors) for any investment or business decision made or action taken in reliance onthe 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 shouldconsult their own advisors in this regard.The market and competitive position data, including market forecasts, used throughout this presentation were obtained from internalsurveys, market research, publicly available information and industry publications. Although we have no reason to believe that any of thisinformation or these reports are inaccurate in any material respect, we have not independently verified the competitive position, marketshare, market size, market growth or other data provided by third parties or by industry or other publications. MPX, the placement agentsand 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 partwithout MPXs prior written consent. 2 3. 1MPX AT A GLANCE 4. A PROVEN RECORD OF ACHIEVEMENT 20122011 MPX/E.ON TPP Parnaba licensedpartnership capacity increased to Acquisition of 3,722 MW Greenfield Wind Power supply Projects in Northeast 2010contracts secured for Brazil (600 MW) 1,193 MW and License granted for construction works at Drill-stem test inTPP Parnaiba well OGX-88 (Bom2009(1,863 MW) TPP Parnaba begin Jesus) concluded D&M estimates for2008 Construction works Initiation of drillingrisked resources in with 36 meters of at TPPs Itaqui and campaign in thenet pay, supporting 365 MW contracted in the Parnaba basin Pecm II begin Parnaba basin future development2007 the A-5 Auction amount to over 11Tcf Acquisition of Declaration of MPX included in the IPO: US$ 1.1 Construction works at interest in 7 onshore commerciality for 2 MSCIbillion raised TPP Pecm I begin exploratory blocks in gas fields with 1,080 MW the Parnaba basinestimated productioncontracted in theof 6 MM m3/dayA-5 Auction 4 5. A DIVERSIFIED ENERGY COMPANY Largest Portfolio Of Power Generation Projects In South America Power agreements secured for 3 GWAmapari Energia23 MW (Discos = 2.6 GW + Free mkt = 0.4 GW) Natural GasItaqui Exploratory blocks 360 MWPecm I11 Tcf720 MW Environmental license for an additionalParnabaPecm II10 GW1,556 MW365 MWParnaba2,166 MWVentos Wind Complex600 MW + 600 MW Natural Gas E&P integrated to power Solar Tau generation: >11 Tcf of risked gas 1 MWAuresources in the Parnaiba Basin2,100 MW CoalCastilla3,300 MW Natural Gas TBD SulSeival mine Joint-Venture with leading global player 727 MWE.ON AG Seival MPX 600 MWJoint-Venture w/ E.ON5 6. MPX OWNERSHIP STRUCTUREFree Float Eike Batista 34.3% 53.9%11.7%50% 50%MPX Participaes 50%100% 100%51% 100%100%100%35%35% Pecm IPecm II AmapariParnaba Supply &Ventos Itaqui TPP Tau Solar TPPTPPEnergia(expansion)TradingWind 70%70%33% 70%50%50% Au TPPsParnaba I Parnaba II OGXSeivalOCGTCCGT MaranhoCoal Mine50% Sul & Seival 50% 70%TPPs Natural gas50%50% exploratoryCastilla TPP blocks in the ParnabaBasin 6 7. 2INVESTMENT HIGHLIGHTS 8. INVESTMENT HIGHLIGHTSExposure to Brazils growing energy demandTax-advantaged thermal power plants coming on-line in 2012Attractive monetization of natural gas resourcesRobust pipeline of thermal projects to meet Brazils need for a morereliable electric systemJoint-venture with E.ON to develop strong portfolio of energy assets andaccelerate growthExperienced management team to execute on strategic vision 8 9. 3EXPOSURE TO BRAZILS GROWINGENERGY DEMAND 10. BRAZIL WILL NEED ADDITIONAL 10 AVG GW FROM 2015-2019 Power Supply/Demand Energy Deficit starting in 2015 = Investment Opportunities Energy Load (forecast) Firm Energy2015-on: new generation required10 GW avg required from 2015 to 2019Source: ANEEL10 11. BRAZIL NEEDS NEW THERMAL CAPACITY TOINCREASE SUPPLY RELIABILITY Water storage capacity has stagnated, leading to decreased system autonomyStorage Capacity (Southeast)Autonomy = [Storage Capacity / (Load Thermal Generation)] Actual Reservoir Autonomy: ~ 5 monthsStoragecapacity stagnation2001: EnergyDeficit(load reduction)Storage Capacity (SIN):Southeast = 69%Northeast = 19% New thermal plants are necessary to guaranteeSouth = 7% North = 5%a reliable power supply.Source: ONS 11 12. 4TAX-ADVANTAGED THERMAL POWER PLANTSCOMING ON-LINE STARTING IN 2012 13. OPERATIONS START IN 2012 Fully contracted power plants will generate steady revenues from 2012 onwards Installed Capacity (MW) Capacity Payments (R$ billion)1,9201.39 1.35 1,558 1.14720 20122013 20142013 20142015 Capacity PaymentsNote 1. Figures adjusted for ownershipNote 2. Capacity Payments are indexed to the IPCA inflation index (Figures shown are in real terms, as of September, 2012)13 14. POWER AGREEMENTS SECURED FOR 3 GWMinimum guaranteed revenues will reach R$ 1.4 billion in 2014 TOTALADJUSTED ENERGY SOLDANNUAL CAPACITYPPACAPACITYCAPACITYFUEL SOURCE(AVG MW) PAYMENT PERIOD(MW)(MW) Pecm I720360 308 R$ 282 million Coal 2012-2027 Itaqui 360360 315 R$ 298 million Coal 2012-2027 Pecm II 365365 276 R$ 268 million Coal 2013-2028 Parnaba I 676473 315 R$ 293 millionNatural Gas 2013-2028 Parnaba II517362 315 R$ 246 millionNatural Gas 2014-2034 Total Reg Market 2,6381,920 1,529 R$ 1,387 millionMPX and MMX signed an energy supply contract for 200 average MW, from January 2019 until May 2029, at a baseprice of R$ 125/ MWh (as of May 2011).Note 1. Adjusted Capacity, Energy Sold and Annual Capacity Payment: Figures adjusted for MPXs ownership in each projectNote 2. Capacity Payments are indexed to the IPCA inflation index (Figures as of September, 2012)14 15. PECM I PECM ILocationCear, NE BrazilInstalled Capacity720 MWFirm Energy 615 avg MWMPX Stake 50%Total Investment R$ 3.0 billionPPA Period2012- 2027Fuel Source Coal100% contracted in the Regulated Market (pool of distribution companies)Milestones to commercial operation (DCO): Unit #1: Electrical load tests > DCO Unit #2: Steam blowing > Reinstatement > By-pass operation > Steam-to-turbine > Electrical tests > First synchronization > Electrical load tests > DCO 15 16. ITAQUIITAQUILocationMaranho, NE BrazilInstalled Capacity360 MWFirm Energy 315 avg MWMPX Stake 100%Total Investment R$ 2.2 billionPPA Period 2012- 2027Fuel SourceCoal100% contracted in the Regulated Market (pool of distribution companies)Milestones to commercial operation (DCO): Steam to turbine > Electrical tests > First synchronization > Electrical load tests > DCO 16 17. PECM II PECM IILocation Cear, NE BrazilInstalled Capacity 365 MWFirm Energy276 avg MWMPX Stake100%Total InvestmentR$ 1.5 billionPPA Period2013- 2028Fuel Source Coal100% contracted in the Regulated Market (pool of distribution companies)Milestones to commercial operation (DCO): Construction completion > Cold commissioning > First fire > Steam blowing > Reinstatement > By-pass operation > Steam to turbine > Electrical tests > First synchronization > Electrical load tests > DCO17 18. PARNABA I PARNABA I OCGTLocation Maranho, NE BrazilInstalled Capacity676MWFirm Energy450 avg MWMPX Stake70%Total InvestmentR$ 1.3 billionPPA Period 2013- 2028Fuel SourceNatural Gas 100% contracted in the Regulated Market (pool of distribution companies) EPC contract with Duro FelgueraCommissioning phase on schedule to start in 4Q12 A 363 MW expansion (cycle closing) is registered for the 2012 A-3 and A-5 Auctions, both scheduled for December 2012 18 19. PARNABA IIPARNABA II CCGTLocation Maranho, NE BrazilInstalled Capacity 517 MWFirm Energy450 avg MWMPX Stake70%Total InvestmentR$ 1.3 billionPPA Period 2014- 2034Fuel SourceNatural Gas 100% contracted in the Regulated Market (pool of distribution companies) EPC contract with Initec Energia Assembly of 1st gas turbine underway19 20. 5NATURAL GAS E&P 21. MPX OWNS 23% OF A UNIQUE ONSHORE NATURAL GAS PORTFOLIO Ownership Structure:OGX MaranhoBlocksTotal area:24,500 km Gas Production at Gavio Real field to start in Jan 2013

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