AGN Participações Institutional Presentation

1. AGN Participações Institutional Presentation

2. AGN PARTICIPAÇÕES KEY INVESTMENT THESIS • We believe the increasing industrialization and urbanization of global emerging markets will continue to lead to increased global demand for commodities • In this new global scenario, we want to invest in the identification and structuring projects in key strategic economic areas in commodity production and transportation, in Brazil and Africa • Our main areas of focus are: infrastructure (primarily port projects), logistics, renewable energy, natural resources, trading and related services • We expect to generate value in our sectors through the alliance of innovation and technology with the local and global knowledge of our partners and executives. We prioritize the competitive advantages or our projects, as well as the social and environmental merits, bringing long term perspective to our businesses Project Risks Value Creation Risk Feasibility, Regulatory, Technology, Environmental, Social, Communities, Construction, Market, Financial, etc Project Development Stage Licenses andFeasibility Implementation and Construction Initial development Operation Standalone Focus Strategic and Financial Partnerships

3. AGN PARTICIPAÇÕES WHAT DIFFERENTIATES US • Our team has a unique combination of operational expertise, transactional experience and extensive global network • OPERATIONAL EXPERTISE • Our executive team possesses a proven track record of selecting, implementing and operating multi-billion complex cross border projects in mining, energy and logistics • Our experience allows us to expeditely identify and analyze different projects globally, allowing us to focus our time and resources on the potentially greater value generating projects • TRANSACTIONAL EXPERIENCE • At our holding level, our executives have been responsible for coordinating some of the most challenging transactions in our sectors, both mergers and capital raising • Due to our local knowledge in the markets we purport to act, we can quickly assess the range of potential issues involved and if necessary hire the best suited advisors for each deal • We also have a successful track record in working through long-term partnerships • EXTENSIVE GLOBAL NETWORK • Our extensive network of contacts both locally and globally provides us with constant deal flow, opportunities and potential partnerships

4. AGN PARTICIPAÇÕES COMPANY STRUCTURE AGN Participações AGN RecursosNaturais AGN Logística AGN Bioenergia Trading • Highly experienced executives and senior management teams for each area • Strategic partnerships with leading local and global players

5. AGN PARTICIPAÇÕES MANAGEMENT TEAM Roger Agnelli Founding Partner and CEO of AGN Participações • Former CEO of Vale S.A. from 2001-2011, during his leadership Vale became the world´s largest producer of iron ore and nickel and a major producer of copper, manganese, aluminum, coal, potash, phosphate and energy, in addition to oil and gas exploration • He was previously President and CEO of Bradespar, Chairman of the Board of Vale • Board Member of ABB Ltd; International Advisory Boards of Anadarko, NYSE, McKinsey, Brookings Institution; Economic Advisory Board Member to the current President of Mozambique Armando Guebuza Fabio Spina Director • Former general counsel, corporate affairs and communications officer of Vale S.A., with a strong focus on legal matters, M&A, capital markets and general management. Mr. Spina also served as VP Investor Relations of Inbev S.A., having coordinated the USD 52 billion acquisition of Anheuser Busch Corp. Priorly he served as VP of Suzano Holding S.A., a Brazilian conglomerate focused on Pulp&Paper, Petrochemicals and other businesses. He held several Board of Director positions in companies such as Petroflex, Rio Polimeros, Ripasa, Polibrasil. • Mr. Spina graduated in law (University of Sao Paulo), with an LL.M. at Columbia University and an MBA at INSEAD. He currently teaches law and capital markets. Carolina Menezes Director • Previous experience in Investment Banking in São Paulo, New York and London, with Goldman Sachs, Credit Suisse and Merrill Lynch • B.A. in Economics from Wellesley College and an MBA from Harvard Business School

6. AGN PARTICIPAÇÕES MANAGEMENT TEAM Eduardo Ledsham CEO of AGN Natural Resources • Former Executive Director of Global Exploration, Capital Implementation and Energy at Vale • Close to thirty years of experience in the natural resources industry globally • Bachelors degree in Geology, MBA in Finance from IBMEC, MBA from FGV and MBA from Fundação Dom Cabral Davi Cade CEO of AGN Logística • Former Director of Logistics at CSN • Previous experience with Vale and BancoBamerindus • Bachelors in Mechanical Engineering, MBA in General Management from Coppead Ivo Fouto CEO of AGN Bioenergia • Former Director at Vale Bioenergia (CEO of Biopalma; CEO of VEL); CEO of Canavialis and Alellyx (Monsanto); CEO of Biocel; CEO of Messer GriesheimBrasil • B.S. in Corporate Finance from FundaçãoGetulio Vargas and Masters in both Business Administration and Metallurgical Engineering from Universidade Mackenzie

7. AGN BIOENERGIA

8. AGN BIOENERGIA THE GENESES OF FOSSIL FUELS AND BIOFUELS ARE THE SAME: SUNLIGHT ENERGY AND CO2 FIXED BY PLANT PHOTOSYNTHESIS 1 - 2 YEARS Photosynthesis Collected Biomass Biofuels conversion Biomass fossilization Photosynthesis Extraction Refining MILLIONS OF YEARS

9. AGN BIOENERGIA COMBINATION OF SUNLIGHT…. …AND TEMPERATURE , BOOST BIOMASS YIELD IN TROPICAL COUNTRIES. COMPETITIVE ADVANTAGE FOR FOOD AND BIOFUELS ACTIVITIES Source: AGN internal analysis

10. AGN BIOENERGIA DESPITE THE TROPICAL REGION POTENTIAL…… …the majority of countries, facing shortage or scarcity of food, fuel and energy, are also situated on the same region. CURRENT PROBLEM → REMARKABLE OPPORTUNITY Source: GV Agro Fonte: BP statistical review of World Energy; FAO (2000 – 2007)

11. AGN BIOENERGIA WORLD NEED OF ENERGY COUPLED WITH ENVIRONMENTAL PRESSURE WILL REQUIRE AN INCREASING USE OF RENEWABLE SOURCES WITH LARGEST SHARE FOR BIOENERGY Expected reduction of particulates European Union World primary energy consumption by source Btoe1 16,3 15,6 14,8 Others 14,2 Nuclear 13,4 Bioenergy 12,0 1,7% Gas Coal European Union initiatives for GHG2 reduction Oil Increase in renewable fuels share Increase in motors efficiency 10% 10% 11% 11% 11% 12% CAGR2008-2035 Bioenergy Share GHG2 Emissions Source: International Energy Agency 1Billion tons of oil-equivalent2 Greenhouse Gases

12. AGN BIOENERGIA TARGETS FOR GREENHOUSE GASES CURTAILMENT AND LOWER SPARE CAPACITY FOR MINERAL DIESEL PRODUCTION, PRESENT OPPORTUNITIES FOR BIOFUELS GROWTH Demand for petroleum derived products Million barrels per day World refining capacity and liquids demand 1980-2015, Million Barrels per day1 Spare Capacity World Refinery CDU2 Capacity World Liquids Demand 1,5% 1980 1985 1990 1995 2000 2005 2010 2015 • Among fuels, diesel has the highest expected demand • Environmental pressures on main consumer areas (European Union, US, Japan) will drive growth for cleaner “diesel” (biodiesel, synthetic diesel etc.), and renewable Jet Fuel • New producers or expansion of existing base will be needed to supply increasing demand for diesel • Part of this capacity will be filled by biofuels projects Source: IHS CERA, BP Statistical Review of World Energy 2010 1Greenhouse Gases 2CDU: Crude Distillation Unit

13. AGN BIOENERGIA lts/ha 6,500 +3.77% per year on 29 years 5,931 lts/ha 5,500 4,500 3,500 2,500 2,024 lts/ha 1,500 1979 1983 1987 1991 1999 2003 1975 1995 THE BRAZILIAN SUCCESS ON SUGAR CANE ETHANOL WAS ACHIEVED DUE TO: INTENSE TECHNOLOGY DEVELOPMENT AND PROCESS INTEGRATION Biomass Breeding Programs Agricultural & Field Management Conversion Technologies Sugar cane ethanol yield in Brazil 7,000 lts./ha 2010

14. AGN BIOENERGIA BRAZILIAN FOOD PRODUCTION HAS GROWN MORE THAN PLANTED AREA, DUE TO THE ACCESSIBILITY, DEVELOPMENT AND APPLIED TECHNOLOGY, SUPPORTED BY REGULATORY LAWS FOR IP PROTECTION AND EFFICIENT BIO-SAFETY FRAMEWORK * Thousands of heads Source: ICONE and IBGE

15. AGN BIOENERGIA • AGN Bioenergia is focused on developing and operating fully integrated bio-energy projects, with a strong expertise team on genetic improvement, process and technology integration • Development and utilization of low-cost, high-productivity biomass to produce advanced, high value added bio-fuels • Our business model contemplates presence throughout the entire value chain, from the development of the biomass to the final conversion technology. We believe having presence and control of the entire production process to be key for implementation of low cost, high productivity and highly efficient projects • Additionally, our projects contemplate production flexibility to create optionality and different products to help generate value throughout the life of the project • Our projects will create significant direct job positions, benefit families and small producers, with Technology transfer; Training; and Finance structure using long term supply contracts Genetic improvement of key biomass varieties - Biotechnology Geotechnology and agriculture management Biomass processing and conversion technology

16. AGN BIOENERGIA - Biotechnology / Genetic improvement BIOTECHNOLOGY – PROPRIETARY BIOMASS BREEDING PROGRAM – ENERGY CANE Typical S&E Mill Operating Cost Breakdown Agricultural costs represent 65% of total Biomass Field Test Tons of biomass per hectare per year 4,0x 3,2x Sugarcane RB 72454: 46 ton./ha/yr Eucalyptus 25.1 ton./ha/yr Elephant Grass 22.3 ton./ha/yr Energy Cane

17. AGN BIOENERGIA - Geotechnologyand agriculture management PROPRIETARY GEOTECHNOLOGY SYSTEM TO IDENTIFY BEST AREAS FOR ACQUISITION, IMPLEMENTATION AND FURTHER AGRICULTURAL MANAGEMENT

18. AGN BIOENERGIA - Biomass processing and conversion technology THERMO CHEMICAL CONVERSION ROUTES: COAL PYROLYSIS - OIL PYROLYSIS - GASIFICATION FOR H2 AND SYNGAS POWER GENERATION - BIODIESEL - GREEN: DIESEL, JET FUEL; PROPANE

19. AGN BIOENERGIA FULLY INTEGRATED PROJECTS

20. AGN BIOENERGIA GHG Reduction INTEGRATED PROJECT: RENEWABLE SYNTHETIC DIESEL, JET FUEL AND PROPANE • Palm trees are 30% more efficient on CO2 absorption and synthesis than native natural forest species Project Annual production of 488 million liters of Synthetic Diesel and Jet Fuel and additional 25,000 tons of Green Propane Local income generation with social and environmental sustainable development Additional reduction of million tons of CO2, using the generated renewable biofuels, with potential utilization on Carbon Credits Benefits up to 2,000 families and small producers surrounding the project, with technology transfer; training; structured finance program, using long term supply agreements • Creation of 6.000 direct jobs • Establishing High Tech agricultural operations in current low production / degraded areas • Planted areas: Up to 90,000 ha of palm and 4.000 ha of Energy Cane

21. AGN BIOENERGIA JOINT EFFORT WITH AFRICARE - SUSTAINABILITY: ENVIRONMENTAL RESPECT + SOCIAL DEVELOPMENT + FOOD SECURITY Africareis a leader among private, charitable U.S. organizations assisting Africa. Africarenow reaches families and communities in some 25 countries in every major region of Sub-Saharan Africa. Since its founding in 1970, Africare has delivered nearly $1 billion in assistance, over 2,500 projects to 36 countries Africa-wide. Africare's programs address needs in four principal areas: Agriculture & Food security; Health & HIV/AIDS; Water, Sanitation & Hygiene; Emergency Humanitarian Assistance, and supports programs in: Women’s Empowerment; Civil Society Development & Governance; Micro Enterprise; Environment AGN and Africare signed an agreement to work toghether in the current food security program, SANA, in Nampula province of Mozambique. This Africare´s program is focusing on the integration of agriculture and nutrition activities with approximately 19,000 family farmers and 23,000 mothers in five districts of Nampula province. AGN is developing Biofuels and Renewable Energy projects in Africa, in a socially inclusive manner, with technology transfer and commercial relationship with small and family farmers, associations and cooperatives. Mozambique Nampula province and districts + AGN

22. AGN Participações ivo.fouto@agnbio.com