MMX: CREATING CHOICES IN SEABORNE IRON ORE SUPPLY

Rio de Janeiro | February 2012

This presentation relating to MMX Mineração e Metálicos S.A. (“MMX”) includes “forward-looking statements”, as that termis defined in the Private Securities Litigation Reform Act of 1995, in Section 27A of the Securities Act of 1933 and Section21E of the U.S. Securities Exchange Act of 1934. All statements other than statements of historical facts are statementsthat 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 orcomments about our objectives, strategy, plans or intentions and results of operations. Forward-looking statements includeprojections 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, bothgeneral and specific. The risk exists that these statements may not be fulfilled or, even if they are fulfilled, the results ordevelopments described in such statements may not be indicative of results or developments in future periods. We cautionparticipants of this presentation not to place undue reliance on these forward-looking statements as a number of factors

DISCLAIMER

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 regulatoryapprovals on a timely basis or at all, exploration for mineral resources and reserves, difficulty in converting geologicalresources into mineral reserves, and changes in economic, political and regulatory conditions. We caution that theforegoing list is not exhaustive. When relying on forward-looking statements to make decisions, investors should carefullyconsider 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 anoffer to sell (which can only be made pursuant to definitive offering documents) nor a solicitation of an offer to buy anysecurities in the United States, or any other jurisdiction. The securities referred to herein have not been registered in anyjurisdiction, and in particular, will not be registered under the U.S. Securities Act of 1933, as amended, or any applicablestate securities laws and may not be offered or sold in the United States absent registration or an applicable exemptionfrom such registration requirements.

This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated inwhole or in part without MMX’s prior written consent.

A UNIQUE STORY

1

THE ONLY ONE OF ITS KIND

MMX Uniqueness

Production committed to important global consumers – China and South Korea – through long-term contracts

Brownfield start up

Expanding beyond 50 Mtpy in Brazil and Chile, through fully integrated systems: own deep water superports and pipelines

Sudeste SystemSerra Azul Unit

Bom Sucesso UnitCorumbá System

Sudeste Superport

Chile System

Unique port location and strong balance sheet leverage significant value creation through consolidation of stranded iron ore resources in the Southeast of Brazil

Strong cash generation

Proven track record delivering value to shareholders

4

ESTRUTURA SOCIETÁRIA

42% ControllingShareholders

42% ControllingShareholders

16% Wisco16% Wisco

14% SK Networks14% SK Networks

28% Free Float28% Free Float

MMXM3: SOLID CONTROLLING SHAREHOLDERS

MMX Corumbá Mineração

MMX Corumbá Mineração MMX SudesteMMX Sudeste Minera MMX

do ChileMinera MMX do Chile

Superporto Sudeste

Superporto Sudeste

Serra AzulSerra Azul

Bom SucessoBom

Sucesso

100% 100% 99%70%

30% EBX

5

SRK certification: 3,1 billion tons of mineral resources, and further mineral

potential of up to 1,4 billion tons. Reserves of 1 billion tons in Serra Azul.

Low strip ratio

Competitive scale – New beneficiation plant

Energy supply contract with MPX

Integrated infrastructure with the existing MRS railway

Resource Base

Competitive Production Cost

Structure

INGREDIENTS FOR A SUCCESSFUL IRON ORE BUSINESS

64% of future production already committed through long-term contracts

Experience management team with implementation and operational expertise

Installed Capacity of 10 Mtpy (Serra Azul and Corumbá sites)

Sudeste Superport at 50 Mtpy, expandable to 100 Mtpy, provides gateway to

seaborne markets

Long Term Railway Contract with MRS

Integrated infrastructure with the existing MRS railway

Secured Off-take

Operational Track Record

GuaranteedLogistics

6

MMX signs contract for railway services with MRS through 2026

SRK certified 997,4 million tons of mineral reserves at Serra Azul Unit

EIA-RIMA filed for Sudeste Superport expansion to 100 Mtpa

Orders for long lead equipment for Serra Azul expansion

EPCM contract with CNEC Worley Parsons for Serra Azul expansion

January2012

DURING THE YEAR OF 2011, A LOT HAS BEEN DELIVERED

EPCM contract with CNEC Worley Parsons for Serra Azul expansion

Contract with MPX for energy supply for expansion of Serra Azul

SRK certified 2,5 billion tons of resources at Serra Azul and Pau de Vinho

Preliminary license of the Serra Azul expansion

MOU with Minerinvest

Financial advisory contract with Itaú BBA and WestLB

Acquisition of 99,1% of PortX shares at the VTO auction

Deal with UsiminasFebruary2011

7

FINANCIAL HIGHLIGHTS

72.8 75.2

61.6

0

30

60

90

3Q10 2Q11 3Q11*

EBITDA (R$ million)

88.5 90.9

(243.2)

-250

-150

-50

50

3Q10 2Q11 3Q11

Net Profit (R$ million)

*excluding non recurent itens

46%37%

27%

54%63%

73%

0%

50%

100%

3Q10 2Q11 3Q11

Debt profile

Short Term Long Term

1,1 1,3 1,5

0,6

0,8 0,7

0,0

1,0

2,0

3Q10 2Q11 3Q11

Sales (million ton)

Domestic Market Seaborne Market8

SUDESTE SYSTEM

2

UNIQUE INTEGRATED LOGISTICS

Since Iron ore is a bulk commodity, an integrated logistic (mine ����railway ���� port) is the key factor for a successful operation

Mine SuperportRailway

Serra Azul unit is near to theMRS railway - 10 km from themine, a distance currentlytraversed by trucks.

MMX has a long term contractwith MRS railway, which connectsthe mine with the CSN’s Itaguaíport and to the SudesteSuperport.

Sudeste Superport is located inItaguaí and will have 50Mtpy ironore shipping capacity. The Superportwill have a depth of 20 meters,enough to handle Capesize vessels.

Offtakers (Shareholders)

Long-Term contract (20 years) to trade ironore. SK will take-off part of the SudesteSystem yearly production equivalent to itsparticipation in MMX Capital (14%).

SK and Wisco will togetherofftake 64% of total production

Long-Term contract (20 years). Wisco willoff-take at least 50% of MMX Sudesteproduction.

10

SERRA AZUL UNIT

2.1

QUADRILÁTERO FERRÍFEROIron ore Quadrangle

12

RAILWAY

Railway access conecting MRS to the Sudeste Superport

13

SERRA AZUL

Expansion project with integrated logistic and pellet feed iron ore

Highlights

Production target: 24 Mtpy

64% of production already committed through long-termcontracts

997.4 million tons of reserves already secured by SRK

Execution Update

Preliminary license issued in August, 2011

Acquisiion of gyratory crushers, ball mills, SAG mills andvertical mills for the new beneficiation plant for R$ 475million

Contract with CNEC WorleyParsons amounting R$ 255million

Contract with MPX to supply power for 15 years at abase-price of R$125/MWh

Expected Quality – Ouro Preto pilot plant test work

Fe: 67.0% P: 0.03%

SiO2: 3.5% Mn: 0.5%

AL2O3: 0.5% LOI: 0.25%

14

SERRA AZUL

Growth through consolidation while leveraging existing infrastructure

15

SERRA AZUL

Serra Azul Unit Expansion Project

New Beneficiation Plant, transmission line and water pipelines, Stockyard and Loading Terminal

Pit

16

Serra Azul ExpansionBeneficiation Plant

17

Contract signed on December 28th 2011.

Long term contract through 2026.

Provides for a volume of up to 36 million tons of iron ore per year.

Tariff: R$ 26.463/ton , net of tax, readjusted annually by a parametric formula the variation in IGP-DI and in diesel oil.

MRS CONTRACT

MMX signed a long term contract for railway services

formula the variation in IGP-DI and in diesel oil.

18

SUDESTE SUPERPORT

2.2

Sudeste SuperportLocation

Nautical Access

Offshore

Tunnel

Stockyard 32

Stockyard 06

Railway Access

Sudeste SuperportArtistic View

21

SUDESTE SUPERPORT

Overview

Highlights

50 mtpy capacity, expandable to 100 mtpy

Capesizes handling

Loading: 2 ship loaders of 25 Mtpy each

Fully funded (BNDES)

Start-up forecast: 1Q13

Sudeste Superport - Itaguaí

Start-up forecast: 1Q13

100% of equipment already ordered

Licensing for 100 Mtpy underway

22

SUDESTE SUPERPORT

Overview

Highlights

Tunnel: Meeting of the two excavation fronts as of September 2011

EIA-RIMA for 100 Mtpy filed with Inea in September 2011

Licensed to 50 Mtpy

Sudeste Superport - Itaguaí

Navy Approval to 100 Mtpy

23

Sudeste SuperportRailway access

24

Sudeste SuperportStockyard Elevation 6 m

25

Sudeste Superport Car Dumpers Elevation 6 m

26

Sudeste SuperportMariquita Hill

27

Sudeste SuperportStockyard Elevation 32 m

28

11 m

20.5 m

Sudeste SuperportTunnel entrance

29

Sudeste SuperportTunnel exit

30

Bridge450 m

Superporto Sudeste Offshore Structure - Bridge

31

Pier766 m

Superporto SudesteOffshore StructureBridge and Pier

Bridge250 m

32

33

Superporto Sudeste Offshore Structure

Funding: BNDES FINAME - PSI

Total Amount: R$ 407.1 mm

Interest Rate per Year: 4.50%

Amortization: 8 years

Grace Period: 2 years1.276

CAPEX

Actual Forecast

SUDESTE SUPERPORT

CAPEX and Funding

Funding: BNDES FINEM

Total Amount: R$ 805.1 mm

Interest Rate per Year: TJLP + 2.18%

Amortization: 10 years

Grace Period: 2 years

Requested Supplementary Funding : R$ 552 million

86 40 63

286 649

2007 2008 2009 2010 2011 to 2013

34

SUDESTE SUPERPORTConstruction schedule

Preliminary License

Construction LIcense

Funding BNDES FINAME-PSI

ANTAQ License

Funding BNDES FINEM

Civil Construction:

��

�

��

1S09 2S09 1S10 2S10 1S11 2S11 1S12 2S12 1Q13

�

Civil Construction:

Stockyard 06

Stockyard 32

Tunnel

Offshore

Road-rail access

Equipment sett up:

Car dumpers

Shiploader

Stacker reclaimer

Belt conveyor

�

35

USIMINAS AGREEMENT

SRK resources audit : 810 million tons plus a potential 75 million tons

Pau de Vinho target production: 8 Mtpy

Significant synergies with current mining operations at Serra Azul

13.5% of production at Pau de Vinho

Handling fee: USD 12.63/ton adjusted by US-PPI

Volumes:

■2013 = 4 Mtpy

■ 2014 = 8 Mtpy

■ 2015 = 12 Mtpy

Pau de Vinho Joint Mining Sudeste Superport Handling

13.5% of production at Pau de Vinhowill be delivered to Usiminas

MMX will be responsible for the licensing, CAPEX and operation for 30 years

■ 2016 = 12 Mtpy

■ Additional 3 Mtpy will be allocated from 2013 until 2016

80% Take-or-Pay

Usiminas can renew the contract for 1 to 5 years

36

BOM SUCESSO UNIT

2.3

BOM SUCESSO

High-quality iron ore with high magnetite content to supply the seaborne market

Highlights

Production target: 10 Mtpy

64% of production already committed through long-term contracts

Execution Update

Conceptual engineering

EIA RIMA filed in November 2010EIA RIMA filed in November 2010

SRK resources audit update: 365 million tons plus a potential of 741 million tons

Public Hearing: June 2011

Expected Quality – Ouro Preto pilot plant test work

Fe: 67.2% P: 0.033%

SiO2: 2.5% PPC: 0.6%

AL2O3: 0.5% FeO: 8.8%

38

CHILE

3

CHILE

One of the lowest cost additions to seaborne supply

Highlights

High-quality iron ore with magnetite content to supply the seaborne market

Production target: 10 Mtpy

50% of production already committed through long-term contracts

460 Mt of iron ore potential already secured

Execution Update

Castilla Port fully licensed

Drilling performed 2011: approximately 43 thousand meters

Water permits

Expected Quality – Ouro Preto pilot plant test work

Fe: 67.50% SiO2: 2.5%

Al2O3: 0.85% P: 0.015%

40

CHILE

Castilha Port

EBX has 240,000 ha property in the Atacama region

Fully Licensed Port

Deep water port – 28 meter draft: Chinamax vessels

Water availability with permits

MPX Thermal Power Plant

BERTH N° 1 – COAL

BERTH N° 2 – IRON ORE

BERTH N° 3 – COPPER

41

CORUMBÁ

4

CORUMBÁ

Unique high quality lump

Highlights

Current Capacity: 2.1 Mtpy

Long-term contracts signed with local and international barge operators

77% of production already committed through long-term contracts

SRK audit resources report: 192 million tons plus a SRK audit resources report: 192 million tons plus a potential of an additional 123 million tons

43

Investor RelationsGuilherme Escalhão – CEO and IRO

Camila Anker– ManagerRafaela Gunzburger – AnalystBeatriz Yoshinaga - Analyst

Tel. + 55 21 2555-6197/ 6338ri@mmx.com.br