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Disclaimer. "This presentation may contain statements that express management's expectations about future events or results rather than historical facts. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements, and CVRD cannot give assurance that such statements will prove correct. These risks and uncertainties include factors: relating to the Brazilian economy and securities markets,1146
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3. Important Information
4. Agenda
6. Discipline in the allocation of capital is one of the most sacred principles adopted by CVRD management
7. Capital allocation discipline and good strategy execution spearheaded consistently high performance
8. Organic growth is our priority
10. The proposed transaction
11. All-cash offer allows Inco’s shareholders to realize up-front its profitable growth potential without any risk
12. Deal financing
13. Financial strength through powerful cash generation
15. Inco, a world leader in nickel
16. The largest world reserves
18. A low-cost producer
20. Inco has the highest growth potential among large nickel producers
22. China is the main growth driver of the global nickel demand
23. Nickel fundamentals are very strong
25. Strategic alignment
27. Global scale with a high quality portfolio of long-life and low-cost assets
28. Acquisition brings significant value to our shareholders
29. A new growth platform
30. An unmatched one-stop shop for the steel industry
31. Positive impact on cost of capital
32. Diversity by products, markets and geography addresses main CVRD structural weakness
33. Diversity by products, markets and geography addresses main CVRD structural weakness
34. Diversity by products, markets and geography addresses main CVRD structural weakness
35. Minimum expected synergies of US$ 520 million1