Corporate Presentation

February 2013

Disclaimer

This presentation may include declarations about Mills expectations regarding future events or results. All declarations based upon future expectations, rather than historical facts, are subject to various risks and uncertainties. Mills cannot guarantee that such declarations will prove to be correct. These risks and uncertainties include factors related to the following: the Brazilian economy, capital markets, infrastructure,

real estate and oil & gas sectors, among others, and governmental rules, that are
subject to change without prior notice. To obtain further information on factors that may give rise to results different from those forecast by Mills, please consult the reports filed with the Brazilian Comisso de Valores Mobilirios (CVM).

Agenda

Executive Summary Mills business segments

Financial performance

Growth plan

Mills at a Glance
60 years of market leadership 4 business segments:

Heavy Construction

Rental

Jahu

Industrial Services

Mills Financial performance per business segment

3Q12 LTM Financial highlights per business segment
R$ million
900

826
800 234

% Total

EBITDA Margin(%)
Rental

ROIC (%) 19.2%

700

28%

57.7%

600 Industrial Services 500 205

6.5%

1.0%

25% % Total
Jahu - Residential and Commercial

400

343
224

49.5%

17.5%

300
200

27%

135 13 111

39%
Heavy Construction

4% 32%

51.4%

18.1%

100

163

20%
84

Total
24%

41.5%

15.1%

0 Net Revenue
1 3Q12

EBITDA

LTM Last twelve months ended September 30, 2012

Mills Shareholder Structure

% Total Capital

Nacht Family 36%

Free float 61% Management 3%

Position: December 31, 2012

Agenda

Executive Summary Mills business segments

Financial performance

Growth plan

Heavy Construction

Transnordestina Railway

Heavy Construction
Focus on large and complex infrastructure projects Products: Engineering solutions and equipment rental: formwork and shoring Planning, design, technical supervision, equipment and related services Market leader Extensive track record with 60 years of experience Critical success factor is reliability

Main clients are the Brazilian largest contractors, such as

Number of contracts: 253 at the end of 3Q12
So Paulos Subway Yellow Line Santo Antonio Hydroelectric Power Plant Dutra Highway Overpass (So Paulo)

New Logistics Investment Program

Highways
In R$ billion

Railways
In R$ billion

Ports
In R$ billion

Total
In R$ billion

In the first 5 years

23.5

Colunas2

Colunas3 56.0

In the first 5 54.2 years

133.7

Up to 20 years

18.5

Colunas3

35.0 Colunas2

Up to 20 years

53.5

20

40

60

20

40

60

20

40

60

30

60

90

120 150

Total: R$ 42 billion (7,500 km)

Total: R$ 91 billion (10,000 km)

Total: R$ 54 billion

Total: R$ 187 billion

Source: Programa de investimento em Logstica, August 2012 and O Globo newspaper

10

Infrastructure market outlook

To ensure its competitiveness in the global scenario and sustainable growth rates, Brazil will have to invest strongly in infrastructure in the coming years
Infrastructure deficit
USA Index = 1.0, average 2008-2009

Roads

Railways

Ports

Infrastructure

China

0.71

China

0.85

China

0.75

China

0.68

India

0.53

India

0.94

India

0.61

India

0.54

Russia

0.41

Russia

0.81

Russia

0.61

Russia

0.56

Brazil

0.47

Brazil

0.38

Brazil

0.46

Brazil

0.58

USA

1.00

USA

1.00

USA

1.00

USA

1.00

0.50

1.00

0.50

1.00

0.50

1.00

0.50

1.00

Source: 2009 World Economic Forum

11

Important contracts per stage in the evolution of monthly revenue from the heavy construction projects
(Basis 100= Maximum monthly revenue in the life of construction)

New contracts*

Contracts with growing volume of equipment

Hydroelectric powerplant Belo Monte Monorail line Gold Subway line 5 SP Subway line 4 RJ Au Port Verdo stadium Light rail Cuiab Norte-Sul railway New phases of Ponta da Madeira

Contracts with high volume of equipment

Hydroelectric powerplants Jirau, Colider and Teles Pires Abreu e Lima refinery Paranaenses arena Monorail line 15 - SP

Contracts in the demobilization process

Subway line 2 - SP Maracan stadium Man Garrincha stadium Sudeste Port Ponta da Madeira Serra Leste mine

Revenue Index

Transordestina railroad BR-448 Comperj refinery Manaus airport BRT Transcarioca Porto Maravilha Aratu Port Metropolitan arch RJ Railroad Ferro Carajs BRT Belm

Time
New phases of Belo Monte hydroeletric powerplant New stretches of subway lines 4 and 5 New stretches of Monorail line Gold Laguna bridge - Santa Catarina Guarulhos Airport Fortaleza Airport Natal Airport Viracopos Airport Brasilia Airport Surroundings of the Maracan stadium Surroundings of the Itaquero stadium Bridge over the Araguaia River Expansion of Carajs mine Shipyard Paraguau

New contracts*

Source: Mills

12

The construction work related to World Cup and Olympic events represented 21% of this business segments 3Q12 revenue
3Q12 Revenue
R$ 45.5 million

Investments for the 2014 World Cup by project stage

Total: R$ 27 billion

16.9

0.3
2.6
Others 12% World Cup and Olympics 21%

7.3 7.6 0.6 4.5

Infrastructure 41%

0.3
0.3
Concluded

6.8

2.3 2.3 2.4

On studying stage or licensing process

Industry 26%

Under construction work

Wating for the construction work to start

Stadiums

Urban Mobility

Airports

Ports

Source: 3 Balano das aes do Governo Brasileiro para a Copa Report in April 2012 and Mills

13

Sport events: the cherry of the cake

12 stadiums (R$ 6.7 billion)

5 highways1

1 railroad2

0.4 hydroelectric powerplant3

1 Considering 2 Investiment

the average investment of the Bus Rapid Transit (BRT): Transcarioca (R$ 1.3 billion), Transolmpica (R$ 2.2 billion) and Transoeste (R$ 0.7 billion) in the Norte-Sul railway (R$ 6.7 billon) 3 Investment in the Santo Antnio hydroelectric powerplant (R$ 16.0 billion)

14

Characteristics of the major projects in progress

Source of Funds

PublicPrivate Partnership 29%

Public 32%

Private 39%

15

Heavy Construction Applied technological innovation

Self-climbing formwork Modular System

Alumills

16

Heavy Construction Financial performance

In R$ millions 50.0 45.0 40.0 35.0 30.0 25.0 20.0 15.0 10.0 5.0 4.5% 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 EBITDA +58.2% +7.7% 3Q11 3Q11* 4Q11 1Q12 2Q12 ROIC +628 bps +49 bps 3Q12 3Q12* 0% 28.5% 21.6 24.4% 16.4 45.9% 35.7 51.9% 41.7 52.2% 42.7 54.0% 48.9% 46.2% 34.2 38.8% 31.8 30.6 33.2 33.2 43.5% 36.1 40% 48.0% 39.3 41.9 50.6% 60%

45.5
52.9%

45.5 50.2% 50%

25.5% 22.3
26.0% 18.8% 13.3 15.6 14.4% 19.5 14.4 12.0% 8.6 17.5% 18.9 16.6%

24.1
21.2 17.8% 19.7%

22.8

30%

18.3%

20%

14.1

12.1%

10%

Net Revenue 3Q12*/3Q11* 3Q12*/2Q12

1

EBITDA Margin +668 bps -37 bps

+37.1% +8.5%

* Excluding the negative impact of R$ 5.8 million of Allowance for Doubtful Debts (ADD) in 3Q11 and the positive impact of the provisions reversal in the amount of R$ 1.5 million in 3Q12

ROIC: Return on Invested Capital. Until 4Q10, ROIC was calculated considering the effective income tax rate for the period, while in 1Q11 onwards ROIC was calculated considering a theoretical 30% income tax rate.

17

Jahu - Residential and Commercial

Reserva do Paiva Pernambuco

18

Jahu Residential and Commercial

Focus on residential and commercial construction Products: Engineering solutions and equipment sales and rental: formwork, scaffolding and shoring Market leader with strong brand name: Jahu Business acquired in 2008 Innovative product - Easy-Set aluminum formwork - to serve low income housing construction Clients are the Brazilian real estate companies, such as: Number of contracts: 4,387 at the end of 3Q12

19

Growth drivers of the residential market: housing financing

300,000

Housing financing In R$ million

250,000

200,000

150,000

100,000

50,000

jul/09 jul/10 jul/11 mar/09 mar/10 mar/11 may/09 may/10 may/11 mar/12 sep/10 sept/09 sept/11 may/12 jul/12 sept/12 jan/09 jan/10 jan/11 nov/09 nov/10 nov/11 jan/12 nov/12

Source: BACEN and FGV

20

Growth drivers of the residential market: higher purchasing power

Higher purchasing power of the Brazilian population
In million families

6.0 8.1

5.7
9.8

6.2 11.7

Class A
+33.2 million

60.4

Class B 37.0 49.7 58.4 Class C

families with income between R$ 1,000 to 8,000

Growth rate (%, p.a.)

< R$ 1,000 31.7

27.2 29.1

-0.4%

38.2
28.0 20.1 10.7 2002

Class D

>= R$ 1,000 and +3.9% <= R$ 8,000

5.9 Class E 1.4 2007 2030E

> R$ 8,000

+7.1%

6.8 2009

3.6 2014E

Source: IBGE and FGV

21

Growth drivers of the residential market: industrialization of the construction process

The major challenge for the sector: labor 89% of companies from the construction industry stated that lack of qualified labor is a problem for the company 94% of companies from the construction industry facing shortages of skilled manpower have difficulty finding workers for basic construction activities, such as bricklayers and laborers Solution: Industrialization of the construction process
System Cycle between concreting activities Traditional with wood 15 days Deck Type 6-8 days Flying Table 4-7 days

Only 7% of companies from the construction industry plan to

deal with the shortage of skilled labor by changing the building process to an industrial assembly model 22
Source: Sondagem Especial Construo Civil, April 2011, CBIC , CNI, Tchne Magazine, June 2012 and Mills

Great penetration of concrete wall for the Minha Casa Minha Vida program
Participation of concrete wall should reach 40% of the properties of the Minha Casa, Minha Vida program in 2014/15

2010/11
3%

2012/13
15%

2014/15

40%

60% 85%

97%

30.000 HU
Concrete wall construction

150.000 HU

400.000 HU
Construction on other systems

Source: Criative

23

Applied technological innovation: reduction of labor and construction cycle

Mills Deck Light Alumalight

Easy set

Alumills

Mast Climbing Platform

24

Growth drivers of the residential market: geographic expansion

Jahus revenue

15% 39% 49%

1

New branches

100% 85% 61% 51% Established branches

2009

2010

2011

1H12

Branches opened after November 2009

25

Listed real estate companies contributed 17% of 3Q12 equipment rental revenues
In R$ million

45.3 8% 9%

48.5 6% 3%

49.2 11% 2% Others Industrial Commercial Residential - others 34% Residential - listed companies

34% 32%

32%
Residential 51 % Residential 57 %

45%
Residential 53 %

36%

19%

12% 2Q12

17%
3Q12

1Q12

26

Jahu Financial performance

In R$ millions 70.0 55.9% 50.1% 45.3% 50.0 35.5% 40.0 29.2% 32.8 30.0 22.7 21.8 20.0 10.3 10.0 10.0 11.9 11.6 23.6% 27.9 21.3% 15.2% 12.3 29.2 22.3% 23.9 13.0% 16.4 13.5 12.5% 16.3% 26.3 20.2% 16.9% 20% 34.7 27.2 39.4 33.8 29.4 30% 46.0% 42.8% 42.0% 38.8% 41.6% 40% 45.5% 52.5 52.5 58.9 60.5 60.5 50% 48.6% 60%

60.0

46.1%

15.6%
14.8% 10%

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 EBITDA 3Q11 4Q11 1Q12 2Q12 3Q12 ROIC 3Q12*

0%

Net Revenue 3Q12*/3Q11* 3Q12*/2Q12

1

EBITDA Margin

+53.6%
+2.7%

+79.5%
+8.3%

+702 bps
+251 bps

+438 bps
+206 bps

* Excluding the positive effect of R$ 5.3 million of tax contingency reversal in 3Q12 ROIC: Return on Invested Capital. Until 4Q10, ROIC was calculated considering the effective income tax rate for the period, while in 1Q11 onwards ROIC was calculated considering a theoretical 30% income tax rate.

27

Rental Motorized Access Equipment

Castelo Stadium Fortaleza, CE

Rental - Motorized Access Equipment Rental

Serves all Mills business segments as well as the automotive, retail and logistics sectors, among others Products: Rental and sale of motorized access equipment, such as aerial work platforms and telescopic handlers, to lift people or cargo, respectively Market leader

Business started in 2008

Cross-selling with all other Mills business segments Elected "Best Company for Access of the Year" by the International Awards for Powered Access (IAPA Awards) for the year of 2011

Number of contracts: 1,464 at the end of 3Q12

29

Motorized Access Equipment Rental market outlook

Current underutilization of motorized access equipment in Brazil and favorable regulation indicate significant growth potential in this market.

The Brazilian aerial platforms and telehandler fleet is very small compared to the US fleet; less than
3% Modest rental penetration of 15% in Brazil. Rental penetration is approximately 40% in the USA, 60% in Japan and 80% in England Recent regulation obliges the use of aerial platforms to lift people, increasing safety and productivity in the work site

Source: Terex and Mills

30

Growth driver of the motorized access equipment market: usage penetration

Fleet profile Brazil 2012* Total: 21,019
+33.2% Telescopic handlers 11%

Motorized access equipment fleet

in thousand of units

25

20

21

15

+46.2%

16
+34.9%

Aerial work platforms 89%

10 8 5

11

USA - 2011 Total: 785,000

Telescopic handlers 22% Aerial work platforms 78%

0 2009 2010 2011 2012

Source: Mills , Terex and Yengst Associates

* On November 2012

31

Growth driver of the motorized access equipment market: geographic expansion

Rentals revenue

31% New branches 58% 63%

1

69% 42% Established branches

37%

2009

2010

2011

1H12

Branches opened after January 2010

32

Rental Financial performance

In R$ millions 70.0 61.8% 60.0 57.0% 55.8% 56.6% 56.0% 47.6% 41.2 40.0 33.7 30.8 30.0 23.5% 21.3 19.6% 20.0 17.2 11.9 25.8 17.3% 18.7% 14.7 17.1% 18.9 17.3% 22.3 25.0 30.7 34.9 31.4 30% 38.0 40% 56.0% 54.1% 47.6% 45.6 54.8% 54.9 56.5 56.6% 55.4 50% 56.5% 60% 67.4 70%

50.0

45.6

21.7
16.0% 12.9% 18.6%

20.3% 16.3% 16.3% 20%

14.6 9.8
10.0

10%

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 EBITDA +52.2% +21.3% 3Q11 3Q11* 4Q11 1Q12 2Q12 ROIC +39 bps 0 bps 3Q12

0%

Net Revenue 3Q12*/3Q11* +47.7% +21.5%

EBITDA Margin +167 bps -13 bps

3Q12*/2Q12

* Excluding the negative effect of R$ 3.3 million of Allowance for Doubtful Debt (ADD) in 3Q11 1 ROIC: Return on Invested Capital. Until 4Q10, ROIC was calculated considering the effective income tax rate for the period, while in 1Q11 onwards ROIC was calculated considering a theoretical 30% income tax rate.

33

Industrial Services Division Industrial Services

Ocean Star Plataform Angra dos Reis, RJ Paul Wolff Plataform, Estaleiro Mau (shipyard) Niteri, RJ

34

Industrial Services
Focus on large industrial plants, both on construction and maintenance phases Products offered during construction and maintenance: access structures rental and erection/dismantling services industrial painting and surface treatments thermal insulation Cross-selling with Heavy Construction business segment Recurring and less volatile revenue base Labor intensive, instead of capital intensive, as the other business segments Industries served: oil & gas, petrochemicals, pulp & paper, steel, among others Number of contracts: 134 at the end of 3Q12

35

Petrobras has announced its 2012 - 2016 Business Plan with investments totaling US$ 236.5 billion in this period
Petrobras total investment plan for 2012-2016 period: US$ 236.5 billion Petrobras pre-salt investment plan for 2012-2016 period: US$ 49.7 billion US$ 131.6 billion will be invested in E&P in Brazil, with the aim of increasing domestic oil production from

2.0 million bpd (Mbpd) in 2011 to 2.5 Mbpd in 2016, with 0.8 Mbpd related to pre-salt
Critical resources needed up till 2020: 65 drilling rigs
44

# Petrobras Plataforms
CAGR10-20: +7.9% 61 94

68 platform-vessels 361 special support vessels

2010

2015

2020

US$ 51.7 billion will be invested in refining, of which 48% to expand the refining facilities, the major
refinery projects being Abreu e Lima (PE) and Comperj (RJ).
Source: Petrobras 2012-2016 Business Plan and Revista Exame (6/27/2012).

36

Industrial Services Financial performance

In R$ millions 70.0 17.7% 60.0 17.3% 14.9% 14.9% 52.5 14.8% 56.4 50.2 9.6% 12.2% 10.3% 7.2% 3.2% 30.0 4.7% 0.2% 20.0 -1.2% 0% 20%

15.8%

57.5 14.2% 14.2%

56.9 50.2

54.8

15% 48.8 10%

50.0 40.0
40.0

46.5

13.4%

12.1% 50.9

7.5%

8.5% 3.9%

5%

10.0

6.3

6.9

7.0

5.8

6.1

8.1 4.1 2.3

-5% 6.2 4.7 -6.2% 0.1 -10% 1Q12 2Q12 ROIC 3Q12

1Q10 2Q10 3Q10 Net Revenue 3Q12*/3Q11* 3Q12*/2Q12

1

4Q10

1Q11 EBITDA

2Q11

3Q11

4Q11

EBITDA Margin

-14.2%
-10.9%

-97.2%
-97.6%

-697 bps
-831 bps

-940 bps
-1,006 bps

ROIC: Return on Invested Capital. Until 4Q10, ROIC was calculated considering the effective income tax rate for the period, while in 1Q11 onwards ROIC was calculated considering a theoretical 30% income tax rate.

37

Agenda

Executive Summary Mills business segments

Financial performance

Growth plan

38

Mills Financial performance

In R$ millions 250.0 43.3% 199.1 211.1 222.2 222.2 40.7% 40% 35% 30% 25% 20.3% 100.0 18.8% 76.4 13.8% 50.0 42.8 18.7 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 3Q11* 4Q11 1Q12 2Q12 ROIC +336 bps +88 bps 3Q12 3Q12* 50.5 55.9 28.5 45.4 30.1 52.8 22.2 12.7% 58.0 11.1% 50.8 8.6% 17.8 59.9 14.2% 29.5 86.2 15.1% 13.6% 39.2 23.8 10% 38.0 34.7 5% 0% 84.4 15.8% 96.1 90.4 20% 50% 45%

200.0

37.0%

38.4% 36.4% 37.6% 148.9 131.3 154.2 29.4% 145.0 29.0% 35.4% 175.1 164.0 175.1 34.2%

39.5% 193.5

43.2% 40.0%

150.0 115.5 23.1% 23.0%

14.5% 15%

26.1

32.7

22.6

Net Revenue 3Q12*/3Q11* +26.9% +5.3%

EBITDA +50.9% +7.1%

Net Income +45.9% -11.4%

EBITDA Margin +646 bps +69 bps

3Q12*/2Q12

* Excluding the negative impact of R$ 9.1 million of Allowance for Doubtful Debts (ADD) in 3Q11 and the positive impact of the provisions reversal in the amount of R$ 6.8 million in 3Q12 1 ROIC: Return on Invested Capital. Until 4Q10, ROIC was calculated considering the effective income tax rate for the period, while in 1Q11 onwards ROIC was calculated considering a theoretical 30% income tax rate.

39

Capturing opportunities maintaining the commitment to low leverage

2.5

Net Debt/LTM EBITDA

2.0

1.9x

1.9x 1.7x 1.5x

1.5

1.3x 1.2x
1.0

1.0x 0.7x 0.7x 0.8x

Target = 1.0x

0.5

0.0

2Q10

3Q10

4Q10

1Q11

2Q11

3Q11

4Q11

1Q12

2Q12

3Q12

40

Agenda

Executive Summary Mills business segments

Financial performance

Growth plan

41

We plan to invest R$ 296 million in organic growth in 2013

Capex
450 in R$ million 430 18 400 349 350 15 163 Rental

2013 Budget (%)

42%

300 131 250 17 221 15 200 25 136 150 104 256 17

296 Industrial Services

124

2%

Jahu - Residential and Commercial 6

38%

107
185 4 7 44 112 Heavy Construction

100

18%

51
50 74 47 0 2010 2011 9M2012 44

52

54

2012 Budget 2013 Budget

42

We are present in 14 states of Brazil with 45 branches

Branch locations
As of September 30, 2012

Roraima

Amap

Amazonas Par Maranho Cear Rio Grande do Norte Paraiba Piaui Acre Tocantins Rondnia Mato Grosso Distrito Federal Bahia Sergipe Pernambuco Alagoas

Heavy Construction Jahu Industrial Services Rental

Mato Grosso do Sul So Paulo Espirito Santo Goias Minas Gerais

States with Mills Presence

Parana

Rio de Janeiro

(sede)

Santa Catarina

Rio Grande do Sul

43

Mills Investor Relations Tel.: + 55 21 2123-3700 E-mail: ri@mills.com.br www.mills.com.br/ri