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  • 1. 2Q12 Earnings ReleaseRio de Janeiro | August, 2012

2. DISCLAIMERThe material that follows is a presentation of general background information about MPX Energia S.A. and its subsidiaries (collectively, MPX or theCompany) as of the date of the presentation. It is information in summary form and does not purport to be complete. No representation orwarranty, 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 expectationsof the Company and its management with respect to its performance, business and future events. Forward looking statements include, withoutlimitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words likemay, plan, believe, anticipate, expect, envisages, will likely result, or any other words or phrases of similar meaning. Such statements aresubject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differmaterially from the plans, objectives, expectations, estimates and intentions expressed in this presentation. In no event, neither the Company, any ofits affiliates, directors, officers, agents or employees nor any of the placement agents shall be liable before any third party (including investors) forany investment or business decision made or action taken in reliance on the information and statements contained in this presentation or for anyconsequential, 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 theirown advisors in this regard.The market and competitive position data, including market forecasts, used throughout this presentation were obtained from internal surveys, marketresearch, publicly available information and industry publications. Although we have no reason to believe that any of this information or these reportsare inaccurate in any material respect, we have not independently verified the competitive position, market share, market size, market growth orother data provided by third parties or by industry or other publications. MPX, the placement agents and the underwriters do not make anyrepresentation 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 withoutMPXs prior written consent. 2 3. 1HIGHLIGHTS 4. 2Q12 HIGHLIGHTS & SUBSEQUENT EVENTSDrill-stem test in well OGX-88 (Bom Jesus) in the Parnaiba Basin concluded with 36meters of net pay, supporting future developmentAcquisition, through JV with E.ON, of 1,200 MW of greenfield wind developments innortheast Brazil363.2 MW of gas fired generation and 158.7 MW of wind registered for 2012 A-3 and A-5AuctionsTakeover of construction works at Pecm I & II and Itaqui Power Plants Cash injection of R$ 421 million by previous EPC contractor Accelerated EPC progressE.ON AG acquired 11.7% of MPX through a R$1.0 billion capital increase, becoming astrategic investor at the company4 5. 2GREENFIELD PROJECTS 6. VENTOS: A 1,200 MW WIND COMPLEX IN ONE OFBRAZILS BEST WIND RESOURCE AREASHigh-quality greenfield assets in northeast Brazil Total Capacity: 600 MW + call option on additional 600 MW Joo Estimated Load Factor: 48% (P50) Cmara Location: Rio Grande do Norte, NE BrazilRN Grid connection 30km from Complex All land rights secured 158.7 MW registered for 2012 energy auctions Environmental licensing in process6 7. 3 POWER PLANTS AND TREATMENTGASUNIT 8. PARNABA COMPLEXGas E&P and Power Plants Under Construction (TPP Parnaba)TPP Parnaba Electromechanical construction of 4 out of the 6 gas turbines completed 4 turbines on-site and 2 additional (Phase II) to be shipped to Brazil by the end of 3Q12Natural Gas E&P Drill-stem test in well OGX-88 (first appraisal well of the Bom Jesus accumulation) demonstrated thepotential for future development: 36 meters of gas net pay Low gas condensate ratio (CGR) indicating dry gas, similar to the results of Gavio Real Field Gavio Real Field project: 14 production wells drilled to date Commissioning of the GTU is expected to begin in 4Q12 and commercial production in January, 2013 Gavio Real Development Plan revised to support registration of 363.2 MW for 2012 A-3 and A-5Auctions8 9. PARNABA TPPWork Progress9 10. PARNABA TPPWork Progress10 11. PARNABA TPPWork Progress11 12. PARNABA TPPWork Progress12 13. PARNABA E&P 13 14. PARNABA E&P 14 15. 4 POWER PLANTSCOAL 16. TAKEOVER OF CONSTRUCTION WORKSMore effective management of Pecm and Itaqui TPPsIn July 2012, MPX and EDP announced the joint acquisition of MABE, the EPC consortium formedby Tecnimont and Efacec to build the Pecm and Itaqui TPPsAs part of the agreement: Tecnimont and Efacec injected R$421MM at MABE, relinquished the R$185MM cash retention withheld by the projects and paid in full all liabilities preceding Apr 30, 2012 Performance guarantees remained unchanged Contractor pending claims and legal actions were eliminated PECM IPECM IIITAQUI TOTAL Cash injection at MABE196110115 421 Cash retention relinquished 100 47 38 185 Performance guarantees200104107 411 Guarantees for claims and contingencies 8342 41 16616 17. MILESTONES LEADING TO COMMERCIAL OPERATIONSCoal Plants Under ConstructionPecm I: Unit #1 Repair turbine rotor bearings and machine turbine rotorCapacity Ramp-up (MW)journals. Restart unit > first synchronization > electrical load tests > DCO. 1,445Itaqui 365Steam blowing > reinstatement > by-pass operation >1,080steam to turbine > electrical tests > first synchronization >electrical load tests > DCO. 360Pecm I: Unit #2 360Cold commissioning > first fire > steam blowing >reinstatement > by-pass operation > steam to turbine >electrical tests > first synchronization > electrical load tests 360> DCO. 3Q12 4Q12 1Q13 Pecm IIConstruction completion > cold commissioning > first fire >Pecm I #1 Pecm I #2 Itaqui Pecm II steam blowing > reinstatement > by-pass operation >steam to turbine > electrical tests > first synchronization >electrical load tests > DCO.17 18. PECM I & IIOverview 18 19. PECM I & IIOverview 19 20. ITAQUIOverview 20 21. ITAQUIOverview 21 22. 5FINANCIAL HIGHLIGHTS 23. NET OPERATING REVENUESConsolidated Net Operating Revenues (R$ thousand) 141,609Increased net operating revenuesdriven largely by increased volume 84,49183,788 of energy sold by our MPX Power 57,023 Trading unit. 41,431 1H102H101H11 2H111H12Obs: MPX Power Trading unit was fully-transferred to the JV at the end of April, 2012 and thus consolidated figures presented here reflect only 50% of the units results for May andJune, 2012.23 24. OPERATING EXPENSESOperating expenses ParentConsolidated*(R$ thousand)2Q12 2Q11% 2Q12 2Q11 %Personnel (16,316) (19,571)-16.6% (25,252) (28,906)-12.6%Outsourced services (15,320) (10,288)48.9%(21,090) (16,266) 29.7%Leases and Rentals (2,187)(1,976)10.7% (2,262)(2,512)-10.0%Other expenses (2,782)(2,172)28.1% (4,906)(3,651) 34.4%Total(36,604) (34,008)7.6% (53,510) (51,335) 4.2%Depreciation and amortization(395)(253)56.0% (803)(375)113.9%Total(36,999) (34,261)8.0% (54,313) (51,711) 5.0%* excluding CCXDecrease in Personnel Expenses at the Parent Company: Reduced payroll expenses resulting from the transfer of employees to the Companys projects Lower expenses related to outstanding stock options plans Increase in Consolidated Expenses with Outsourced services, resulting from: Engineering, financial and legal consulting related to the closing of transaction with E.ON, the spin-off ofCCX and the takeover of construction works at the Pecm I & II and Itaqui TPPs.24 25. NET FINANCIAL RESULTSFinancial Result Consolidated(R$ thousand)2Q12 2Q11%Increased financial expenses related toDerivatives (Hedge)7,302(44,685)-116.3%the Companys convertible debenturesFair Value - Debentures 49,555-- (R$ 101.6 million):Interest - Debentures (20,065)-- Interest: R$ 20.1 millionCosts - Debentures(81,465)-- Costs: R$ 81.5 millionOther (30,809)1,004 -3167.2%NET FINANCIAL RESULT(75,482) (43,681)72.8% * excluding CCX25 26. CONSOLIDATED CASH POSITION Consolidated Cash & Cash Equivalents394.5 78.978.8610.9 178.0 14.8686.4 445.0151.9 1,325.1 1,113.3Cash and CashRevenuesEPC bank OPEX & CAPEX Cash Flow fromDebt E.ON Capital Cash Injection Spin-off*EscrowCash and Cash Equivalentsguarantees & SG&AFinancingDisrbursement Contributionat CCXAccountsEquivalents (1Q12)executed (2Q12) * cash withheld by projects transferred to JV (50%) and CCX (100%) 26 27. CONSOLIDATED DEBTDebt (R$ million)Total Consolidated Gross Debt: R$ 5,103.8 millionShort term: R$ 1,662.2 million R$ 825 million bridge loan to Parnaba I and R$ 325 million toParanba II => to be paid-off with draw down from long-termfinancing expected in 2H2012 With the conclusion of CCXs spin-off, a balance of R$ 422.5 millionin short-term debt was transferred to CCX Debt Maturity Profile* (R$ million)2,803.7Long term: R$ 3,441.6 million Average amortization: 14 years1,113.21,288.8 541.9262.0228.5Average cost of debt: 9.4%Average tenure: 5.6 years Cash & Cash 2012 2013** 20142015 From 2016Equivalentson *Values incorporate principal + capitalized interest + charges and exclude outstanding convertible debentures. ** R$ 258.7 m