3rd Quarter 2009 Presentation

1. 3Q09 EARNINGS RELEASE 4T08 / 2008
NOVEMBER 2009 1

2. 4T08 AGENDA
/ 2008
1. Highlights
2. Industry Performance
3. Financial and Operating Performance
4. Additional Information
2

3. 4T08 AGENDA
/ 2008
1. Highlights
2. Industry Performance
3. Financial and Operating Performance
4. Additional Information
3

4. 4T08 / 2008
HIGHLIGHTS
Consolidated net operating revenue of R$ 309.2 million in the 3Q09, a reduction of 40.9% over
the same period of last year
EBITDA(*) of R$ 33,3 million in the 3Q09, a reduction of 63.4% when compared to the same
period of last year
Net income of R$ 11.6 million in the 3Q09, a reduction of 91.2% when compared to the same
period of last year
Net bank debt of R$ 513.7 million (R$ 230.6 million in Sep 08), or 4.1x LTM EBITDA(*) (0.9x
Sep 08)
Fumagalli Division results considered as of September 21, 2009
(*) EBITDA, throughout this presentation means: net income plus income tax and social contribution, plus non-operating result, plus
net financial expenses, plus depreciation and amortization, plus goodwill amortization.
4

5. 4T08 DRIVERS
MAIN / 2008
Reduction of Brazilian production of trucks, buses and agricultural machinery
Reduction of domestic demand for railway freight cars
Reduction of exports
5

6. 4T08 AGENDA
/ 2008
1. Highlights
2. Industry Performance
3. Financial and Operating Performance
4. Additional Information
6

7. BRAZILIAN VEHICLE PRODUCTION / / 2008
4T08 EXPORT
Production
Segment 3Q09 3Q08 Var. 9M09 9M08 Var.
Passenger Cars 698,955 736,592 -5.1% 1,898,486 2,096,618 -9.5%
Light Commercials 113,230 133,004 -14.9% 314,765 363,621 -13.4%
Trucks 30,697 48,961 -37.3% 84,383 128,216 -34.2%
Buses 9,388 12,551 -25.2% 26,014 35,902 -27.5%
Total Vehicles 852,270 931,108 -8.5% 2,323,648 2,624,357 -11.5%
Agricultural Machinery 17,378 23,510 -26.1% 45,797 63,401 -27.8%
Export
Segment 3Q09 3Q08 Var. 9M09 9M08 Var.
Passenger Cars 100,751 140,959 -28.5% 258,962 432,780 -40.2%
Light Commercials 19,673 34,209 -42.5% 51,551 97,502 -47.1%
Trucks 3,509 11,402 -69.2% 9,656 30,053 -67.9%
Buses 2,209 4,042 -45.3% 6,689 11,499 -41.8%
Total Vehicles 126,142 190,612 -33.8% 326,858 571,834 -42.8%
Agricultural Machinery 3,016 8,060 -62.6% 10,295 22,818 -54.9%
Source: Anfavea
7

8. BRAZILIAN RAILWAY EQUIPMENT / 2008
4T08 MARKET
Sales
Segment 3Q09 3Q08 Var. 9M09 9M08 Var.
Railway Freight Cars (units) 171 1,184 -85.6% 776 3,746 -79.3%
Railway Wheels (units)* 8,100 16,208 -50.0% 28,992 39,984 -27.5%
Castings (tonnes)* 500 1,006 -50.3% 1,234 3,400 -63.7%
Source: Amsted-Maxion estimation
* Replacement market only, excluding wheels and castings used in assembling new
railway freight cars.
8

9. 4T08 AGENDA
/ 2008
1. Highlights
2. Industry Performance
3. Financial and Operating Performance
4. Additional Information
9

10. 4T08 / 2008
NET OPERATING REVENUE – R$ million
Net Operating Revenue
∆ 3Q09 – 08 = -40.9%
1,828 ∆ 9M09 – 08 = -35.6%
CAGR 2006 – 08 = 21.0%
1,366
1,248 1,289
879
523
309
2006 2007 2008 9M08 9M09 3Q08 3Q09
10

11. 4T08 / 2008
NET OPERATING REVENUE – R$ million
Net Operating Revenue – R$ 309.2 (3Q09) and
3Q08
R$ 879.2 (9M09)
-26.1%
Chassis: ∆ 9M09 – 08 = -15.1%
3Q09 3Q08
Maxion Wheels: ∆ 9M09 – 08 = -51.7%
3Q08
-60.1%
Wheels (China): ∆ 9M09 – 08 = 473.8%
-69.7%
205
Automotive Comp. : ∆ 9M09 – 08 = -4.0%
151 151
3Q09 130
7.6% Amsted-Maxion: ∆ 9M09 – 08 = -63.9%
3Q09 3Q08 3Q09
60 65.2%
3Q09
35 40
3Q09 38
3Q08 17
3 2
Chassis Maxion Wheels Wheels (China) Fumagalli Automotive Amsted-Maxion
Wheels Comp.
11

12. REVENUE 4T08 / 2008
BY CUSTOMER
3Q09 3Q08
ALL
Caterpillar
Tractors 1%
ALL 1%
Scania 5% 3%
3%
Vale Others Caterpillar
After Market 9% 1% Others
5% Daimler
2% 13% 12%
MRS Vale
Daimler 9%
1%
13% Export
13%
MAN (VW) Tractors
Trucks 8%
Export
22% Scania
13%
5% Fiat
GMB Fiat MAN (VW) GMB 4%
MRS
9% 9% Trucks 5%
Ford 6%
16% Ford
5%
5%
After Market
2%
12

13. EXPORTS / INTERNATIONAL SALES – R$2008
4T08 / million
3Q08
3Q08
14.9%
3Q0 -75.0%
9 29
3Q08 -71.5%
21
17 3Q09 3Q09
14
3Q09 65.2%
3Q09 8 -35.2% 7
6 3Q08
3 2 3Q09 3Q08
0 1
Chassis Maxion Wheels Wheels (China) Fumagalli Automotive Amsted-Maxion Export by Region – 3Q09
Wheels Comp.
Exports – R$ 41.0 (3Q09) and R$ 121.6 (9M09) EUA
58%
US$ 22.4 (3Q09) and US$ 59.3 (9M09)
Europe
4%
R$ - ∆3Q09 – 08 = -39.2% Mexico
Canada Latin 6%
R$ - ∆9M09 – 08 = -29.7% Asia /
8% America
Oceania
Africa /
8% 13%
Midle East
US$ - ∆3Q09 – 08 = -42.8% 2%
US$ - ∆9M09 – 08 = -41.7% 13

14. MARKET SHARE /BRAZIL
4T08 - 2008
Chassis Maxion Wheels Fumagalli Wheels
31% 35% 37%
43% 49%
49%
Others Others Others
Maxion Maxion Fumagalli
69% 65% 63%
57% 51% 51%
9M09 9M08 9M09 9M08 9M09 9M08
Railway Freight Cars Railway Castings
3%
20% 20%
34%
Others Others
Maxion Maxion
97%
80% 80%
66%
9M09 9M08 9M09 9M08
Source: Iochpe-Maxion Estimate 14

15. GROSS PROFIT – R$2008
4T08 / million
Gross Profit
∆ 3Q09 – 08 = -53.3%
357 ∆ 9M09 – 08 = -54.9%
284
CAGR 2006 – 08 = 27.7%
236
219
22%
18% 20%
18% 17%
21% 128
114
15%
53
2006 2007 2008 9M08 9M09 3Q08 3Q09
Gross Profit % NOR
15

16. EARNINGS BEFORE INCOME TAX – R$2008
4T08 / million
232
EBIT
197 ∆ 3Q09 – 08 = -72.4%
∆ 9M09 – 08 = -76.2%
136
126 CAGR 2006 – 08 = 30.6%
82
14%
13%
11% 47 16%
10%
23
7%
5%
2006 2007 2008 9M08* 9M09 3Q08* 3Q09
EBIT % NOR
(*) In compliance with Instruction 539/08 of CVM (Brazil’s securities commission) of March 14, 2008 and guidance of the Accounting Pronouncement
Committee, Iochpe-Maxion incorporated the amounts accounted as non-operating expenses in 2008 into operating expenses, therefore reducing EBIT
presented in the 3Q08 presentation
16

17. EBITDA – R$2008
4T08 / million
268
EBITDA
222
∆ 3Q09 – 08 = -63.4%
163
156
∆ 9M09 – 08 = -64.7%
CAGR 2006 – 08 = 28.2%
17%
16%
15% 91
13% 12% 78
11%
9% 33
2006 2007 2008 9M08** 9M09 3Q08** 3Q09
EBITDA % NOR
(*) EBITDA, throughout this presentation means: net income plus income tax and social contribution, plus non-operating result, plus net financial expenses,
plus depreciation and amortization, plus goodwill amortization
(**) In compliance with Instruction 539/08 of CVM (Brazil’s securities commission) of March 14, 2008 and guidance of the Accounting Pronouncement
Committee, Iochpe-Maxion incorporated the amounts accounted as non-operating expenses in 2008 into operating expenses, therefore reducing EBIT
presented in the 3Q08 presentation 17

18. NET FINANCIAL EXPENSES – R$2008
4T08 / million
Net Financial Expenses
∆ 3Q09 – 08 = -128.7%
∆ 9M09 – 08 = 26.9%
28
21 CAGR 2006 – 08 = 15.5%
2% 13
10 2%
1%
2%
1% 5 6 -1%
0%
-4
2006 2007 2008 9M08 9M09 3Q08 3Q09
Financial Exp. % NOR
18

19. 4T08 / 2008
FX RATE VARIATION
Impact of the FX rate variation on Financial (Expense) Revenue
3Q09
Value US$ FX Rate Var.
million R$ million
NDF Expired 16.9 1.7
Financial Rev./(Exp.) 1.7
No additional NDF operations were contracted in this period, due to the already mentioned reduction of
exports
At the end of the 3Q09, Iochpe-Maxion didn’t have any NDF operations contracted
19

20. NET INCOME – R$2008
4T08 / million
Net Income
∆ 3Q09 – 08 = -91.2%
Non-recurring gain generated by ∆ 9M09 – 08 = -93.8%
the grouping of Maxion Sistemas
Automotivos into Iochpe-Maxion 214 209 25%
CAGR 2006 – 08 = 92.1%
76
76
131
12% 15% Non-recurring gain generated by
76
the grouping of Maxion Sistemas
72 Automotivos into Iochpe-Maxion
76
58
133
6% 4%
5%
13 12
2%
2006 2007 2008 9M08 9M09 3Q08 3Q09
Net Income % NOR
20

21. NET BANK DEBT – R$2008
4T08 / million
To better understand the evolution of net bank debt, it’s worth to mention :
R$ 79.2 million dividend payment during the 2Q09
R$ 331.1 million payment during the 3Q09 for the conclusion of acquisition of Fumagalli Division
514
4.1
256
231
207
132 128
1.0 1.1
0.8 0.8 0.9
2006 2007 2008 2Q09 3Q08 3Q09
Net Debt x EBITDA*
(*) EBITDA, throughout this presentation means: net income plus income tax and social contribution, plus non-operating result, plus net
financial expenses, plus depreciation and amortization, plus goodwill amortization
LTM EBITDA 21

22. INDEBTEDNESS SEP 09 – R$2008
4T08 / million
283
337
796
459 514
- -
Short Term Long Term Total Debt Cash Net Debt
Debt Indexation Debt by Lines
Fixed Inter.
YUAN Rate (4.5%)
BNDES - PSI
3% 33% 33%
Promissory
Dollar Note
CDI (Intebank
11% 40%
Rate) + 2% BNDES-EXIM
41% 12%
TJLP
12% Others
7%
ACC
5% Import
3% 22

23. CAPEX – R$2008
4T08 / million
113
84
68 68
20
12
2005 2006 2007 2008 3Q08 3Q09
23

24. 4T08 AGENDA
/ 2008
1. Highlights
2. Industry Performance
3. Financial and Operating Performance
4. Additional Information
24

25. SHARES PERFORMANCE 4T08 – MYPK3
(LTM) / 2008
30.00% 26.40%
-20,84%
20.00%
10.00%
0.00%
Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09
-10.00%
-20.00%
-30.00%
-40.00%
-50.00%
-60.00%
MYPK3 IBOVESPA
25

26. AVERAGE DAILY TRADE VOLUME – R$ 2008
4T08 / million
221
190 185
2,885 2,168
2,142
2,047
132 129
146 124 1,692
1,543 1,632
1,419 97 97
1,761
105 106
1,111
91
685 734
Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09
Volume Trades
26

27. INCOME STATEMENT – R$2008
4T08 / million
Income Statement - R$ thousand 3Q09 3Q08** Var. 9M09 9M08** Var.
Net Operating Revenue 309,235 522,983 -40.9% 879,190 1,365,713 -35.6%
Cost of Goods Sold
Raw Material (156,917) (282,715) -44.5% (444,718) (724,853) -38.6%
Labor (60,459) (83,341) -27.5% (188,656) (211,538) -10.8%
Others (38,614) (43,032) -10.3% (117,924) (145,921) -19.2%
(255,990) (409,089) -37.4% (751,298) (1,082,313) -30.6%
Gross Profit 53,245 113,894 -53.3% 127,892 283,400 -54.9%
17.2% 21.8% 14.5% 20.8%
Operating Expenses
General and Administrative (12,372) (14,178) -12.7% (37,375) (38,080) -1.9%
Commercial (10,596) (19,666) -46.1% (36,434) (50,077) -27.2%
Others (7,562) 2,182 -446.6% (7,318) 1,529 -578.5%
(30,530) (31,662) -3.6% (81,127) (86,628) -6.4%
Operating Income (EBIT) 22,715 82,231 -72.4% 46,765 196,772 -76.2%
7.3% 15.7% 5.3% 14.4%
Financial Results
Financial Revenue 15,220 (25) 46,560 26,487 75.8%
Financial Expenses (11,563) (12,724) -9.1% (52,883) (31,470) 68.0%
3,657 (12,749) -128.7% (6,323) (4,983) 26.9%
Earnings After Financial Income 26,372 69,482 -62.0% 40,442 191,790 -78.9%
8.5% 13.3% 4.6% 14.0%
Income Taxes (14,786) 61,501 -124.0% (27,406) 17,416 -257.4%
Net Income 11,586 130,983 -91.2% 13,036 209,206 -93.8%
3.7% 25.0% 1.5% 15.3%
EBITDA* 33,315 90,954 -63.4% 78,328 221,703 -64.7%
10.8% 17.4% 8.9% 16.2%
(*) EBITDA, throughout this presentation means: net income plus income tax and social contribution, plus non-operating result, plus net financial expenses, plus
depreciation and amortization, plus goodwill amortization
(**) In compliance with Instruction 539/08 of CVM (Brazil’s securities commission) of March 14, 2008 and guidance of the Accounting Pronouncement Committee, Iochpe-
Maxion incorporated the amounts accounted as non-operating expenses in 2008 into operating expenses, therefore reducing EBIT presented in the 3Q08 presentation
27
Note: Fumagalli Division results considered as of September 21, 2009

28. BALANCE SHEET – R$2008
4T08 / million
ASSETS LIABILITIES
Sep-09 Jun-09 Sep-09 Jun-09
CURRENT CURRENT
Cash and Cash Equivalents 282,485 38,351 Loans 458,914 161,591
Receivables 218,628 156,202 Payables 90,427 59,746
Inventory 204,626 179,620 Taxes 29,204 7,004
Recoverable Taxes 17,596 9,317 Wage & Salaries 48,731 33,591
Deferred Taxes 15,328 17,900 Customers Advance 9,754 10,852
Antecipated Expenses 7,517 1,718 Dividends - -
Other Receivables 13,894 8,272 Other Payables 23,209 21,417
Payable Financial Instruments - 599
760,074 411,380 660,239 294,800
LONG TERM LONG TERM
Receivable 588 583 Loans 337,295 83,626
Recoverable Taxes 29,121 16,772 Provisions 59,943 60,059
Deferred Taxes 89,579 82,646 Others 13,619 9,291
Obligatory deposits and judicial 12,890 12,890 410,857 152,976
Other Receivables 3,024 1,852
135,202 114,743
EQUITY
Investments 323 310 Capital 261,463 261,463
Plants, Property and Equipment 589,844 368,203 Profit Reserves 183,958 183,958
Intangible 43,386 4,826 Equity Adjustment 2,724 8,843
Deferred Items 3,448 4,028 Accumulated Profit 13,036 1,450
637,001 377,367 461,181 455,714
TOTAL ASSETS 1,532,277 903,490 TOTAL LIABILITIES 1,532,277 903,490
Note: The Balance Sheet at the end of September 09 already consolidates the Fumagalli Division accounts 28