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3Q13 RESULTS

December | 2013
DISCLAIMER

This presentation relating to MMX Mineração e Metálicos S.A. (“MMX”) includes “forward-looking statements”, as that term is defined in
the Private Securities Litigation Reform Act of 1995, in Section 27A of the Securities Act of 1933 and Section 21E of the U.S. Securities
Exchange Act of 1934. All statements other than statements of historical facts are statements that could be deemed forward-looking
statements and are often characterized by the use of words such as “projects”, “expects”, “anticipates”, “intends”, “plans”, “believes”,
“estimates”, “may”, “will”, or “intends”, or by discussions or comments about our objectives, strategy, plans or intentions and results of
operations. Forward-looking statements include projections regarding our operating capacity, operating expenditures, capital
expenditures and start-up dates.
By their nature, these forward-looking statements involve numerous assumptions, uncertainties and opportunities, both general and
specific. The risk exists that these statements may not be fulfilled or, even if they are fulfilled, the results or developments described in
such statements may not be indicative of results or developments in future periods. We caution participants of this presentation not to
place undue reliance on these forward-looking statements as a number of factors could cause future results to differ materially from
these statements.
Forward-looking statements may be influenced in particular by factors such as the ability to obtain all required regulatory approvals on a
timely basis or at all, exploration for mineral resources and reserves, difficulty in converting geological resources into mineral reserves,
and changes in economic, political and regulatory conditions. We caution that the foregoing list is not exhaustive. When relying on
forward-looking statements to make decisions, investors should carefully consider these factors as well as other uncertainties and
events.
MMX does not undertake to update our forward-looking statements unless required by law. This presentation is neither an offer to sell
(which can only be made pursuant to definitive offering documents) nor a solicitation of an offer to buy any securities in the United
States, or any other jurisdiction. The securities referred to herein have not been registered in any jurisdiction, and in particular, will not
be registered under the U.S. Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold
in the United States absent registration or an applicable exemption from such registration requirements.
This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in part
without MMX’s prior written consent.

2
1.

3Q13 HIGHLIGHTS
MAIN FIGURES
3Q13

QxQ

YxY

Production

1.4 million tons

-20%

-33%

Sales

2,1 million tons

23%

13%

R$ 339 million

20%

40%

R$ -1,207.2 million

173%

1100%

R$ -69.8 million

-

-

Net Revenues
Net Profit
Adjusted Ebitda

3Q13 highlights and subsequent events:
Signing of the agreements with Trafigura and Mubadala for their 65% holding in the capital stock of MMX Porto
Sudeste Ltda;
Signing of the agreement for the sale of the totality of shares of the Chile Unit with Inversiones Cooper Mining
S.A;
Review of figures and strategy for Corumbá Unit;
Approval of the business plan’s revision by the board of directors;

4
FINANCIAL HIGHLIGHTS
Net Revenue (R$ million)

Gross Profit (R$ million)

400

250

300

200
150

200

339

284

3Q12

100

245

2Q13

100
50

0

148

186

231

0

3Q13

3Q12

2Q13

3Q13

Adjusted EBITDA (R$ million)
100
50
0
-50
-100

19,2%

14,6%

47

41
-70
-20,6%

3Q12

2Q13

Adjusted EBITDA

32%
16%
0%
-16%
-32%

3Q13
EBITDA Margin

5
CONSOLIDATED DEBT

Debt profile

Net Debt
(R$ Million)

100%
2.694

80%
56%

2.641

74%

30%

26%

3Q12

60%

70%

2Q13

40%
2.336

20%

44%

0%

3Q12

2Q13

3Q13

Short Term

3Q13

Long Term

6
2. PROJECT’S PHOTOS
SUDESTE SUPERPORT
Road and Railway Access

8
SUDESTE SUPERPORT
Road and Railway Access

9
SUDESTE SUPERPORT
Stockyard Elevation 06

10
SUDESTE SUPERPORT
Car Dumpers

11
SUDESTE SUPERPORT
Car Dumpers

12
SUDESTE SUPERPORT
Stockyard Elevation 32

13
SUDESTE SUPERPORT
Stockyard Elevation 32

14
SUDESTE SUPERPORT
Tunnel

15
SUDESTE SUPERPORT
Tunnel Exit

16
SUDESTE SUPERPORT
Substation Structure

17
SUDESTE SUPERPORT
Pier and Ship Loaders

18
SUDESTE SUPERPORT
Transfer House

19
www.mmx.com.br

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Mmx webcast ingles 3 t13 v1

  • 2. DISCLAIMER This presentation relating to MMX Mineração e Metálicos S.A. (“MMX”) includes “forward-looking statements”, as that term is defined in the Private Securities Litigation Reform Act of 1995, in Section 27A of the Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All statements other than statements of historical facts are statements that could be deemed forward-looking statements and are often characterized by the use of words such as “projects”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, “may”, “will”, or “intends”, or by discussions or comments about our objectives, strategy, plans or intentions and results of operations. Forward-looking statements include projections regarding our operating capacity, operating expenditures, capital expenditures and start-up dates. By their nature, these forward-looking statements involve numerous assumptions, uncertainties and opportunities, both general and specific. The risk exists that these statements may not be fulfilled or, even if they are fulfilled, the results or developments described in such statements may not be indicative of results or developments in future periods. We caution participants of this presentation not to place undue reliance on these forward-looking statements as a number of factors could cause future results to differ materially from these statements. Forward-looking statements may be influenced in particular by factors such as the ability to obtain all required regulatory approvals on a timely basis or at all, exploration for mineral resources and reserves, difficulty in converting geological resources into mineral reserves, and changes in economic, political and regulatory conditions. We caution that the foregoing list is not exhaustive. When relying on forward-looking statements to make decisions, investors should carefully consider these factors as well as other uncertainties and events. MMX does not undertake to update our forward-looking statements unless required by law. This presentation is neither an offer to sell (which can only be made pursuant to definitive offering documents) nor a solicitation of an offer to buy any securities in the United States, or any other jurisdiction. The securities referred to herein have not been registered in any jurisdiction, and in particular, will not be registered under the U.S. Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in part without MMX’s prior written consent. 2
  • 4. MAIN FIGURES 3Q13 QxQ YxY Production 1.4 million tons -20% -33% Sales 2,1 million tons 23% 13% R$ 339 million 20% 40% R$ -1,207.2 million 173% 1100% R$ -69.8 million - - Net Revenues Net Profit Adjusted Ebitda 3Q13 highlights and subsequent events: Signing of the agreements with Trafigura and Mubadala for their 65% holding in the capital stock of MMX Porto Sudeste Ltda; Signing of the agreement for the sale of the totality of shares of the Chile Unit with Inversiones Cooper Mining S.A; Review of figures and strategy for Corumbá Unit; Approval of the business plan’s revision by the board of directors; 4
  • 5. FINANCIAL HIGHLIGHTS Net Revenue (R$ million) Gross Profit (R$ million) 400 250 300 200 150 200 339 284 3Q12 100 245 2Q13 100 50 0 148 186 231 0 3Q13 3Q12 2Q13 3Q13 Adjusted EBITDA (R$ million) 100 50 0 -50 -100 19,2% 14,6% 47 41 -70 -20,6% 3Q12 2Q13 Adjusted EBITDA 32% 16% 0% -16% -32% 3Q13 EBITDA Margin 5
  • 6. CONSOLIDATED DEBT Debt profile Net Debt (R$ Million) 100% 2.694 80% 56% 2.641 74% 30% 26% 3Q12 60% 70% 2Q13 40% 2.336 20% 44% 0% 3Q12 2Q13 3Q13 Short Term 3Q13 Long Term 6
  • 8. SUDESTE SUPERPORT Road and Railway Access 8
  • 9. SUDESTE SUPERPORT Road and Railway Access 9
  • 18. SUDESTE SUPERPORT Pier and Ship Loaders 18