Corporate Presentation

March 2012

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 previous 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 divisions

Financial performance

Growth plan

Mills at a Glance
Uncontested market leader in providing temporary concrete formwork and tubular structures in the Brazilian market One of the major players in the industrial services and motorized access equipment Long-term relationship with the major companies in the sector

Superior capacity and scale, scope of services and market coverage

4 divisions: Heavy Construction Industrial Services

Jahu

Rental

Mills Financial performance per division

2011 Financial highlights per division
R$ million
800

% Total

678
700

EBITDA Margin (%)

26%
Rental

ROIC (%)

53.4%

16.5%

600

175

500

Industrial Services 215

9.7%

5.9%

400

32% % Total
Jahu - Residential and Commercial

300 156

42.4%

14.3%

238
23%
94

200

39%
Heavy Construction

43.9% 35.1%

12.1% 12.3%

21
100

9% 28% 24%

132 0
Net Revenue

66

Total

19%

58
EBITDA

Agenda

Executive Summary Mills divisions

Financial performance

Growth plan

Heavy Construction Division

Man Garrincha Stadium Braslia, DF

Heavy Construction division

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 59 years of experience

Critical success factor is reliability

Main clients are the Brazilian largest contractors, such as
So Paulos Subway Yellow Line

Santo Antonio Hydroelectric Power Plant

Dutra Highway Overpass (So Paulo)

Heavy Construction market outlook

Unparalleled infrastructure investments are expected for the next few years reinforced by major world events. Investments in Brazil should amount R$ 3.3 trillion in the 2011-2014 period Industry: R$ 1.0 trillion, growth of 170% compared to the 2006-2009 period Infrastructure: R$ 401 billion, growth of 62% compared to the 2006-2009 period Other sectors: R$ 1.9 trillion
Industry investments 2011-2014 R$ 1,047 billion Oil & Gas 378
Others 493

Infrastructure investments 2011-2014 R$ 401 billion Ports 18

Roads 51

Others 20

Energy 139

Mining 72

Railroads 60 Sanitation 41 Telecom 72

Pulp & Paper Chemical 28 40

Steel 36

Source: BNDES - Viso do Desenvolvimento Report No 95, June 20, 2011

Large project pipeline remains robust

Curitiba Stadium Porto Alegre Stadium Natal Stadium Fortaleza Stadium Cuiab Stadium Recife Stadium Amaznia Stadium Salvador Stadium Braslia Stadium Transoeste Belo Horizonte Stadium So Paulo Stadium Rio de Janeiro Stadium Highway Arch - RJ Transcarioca Highway Transolmpica Highway Monorail Line 17 Gold - SP Au Superport Beltway - Eastern Section Subway Line 4 - RJ Carajs Railroad West-East Railroad Transordestina Railroad Beltway - Northern Section North - South Railroad Subway Line 5 - SP Hydroelectric Powerplant Jirau Hydroelectric Powerplant Santo Antnio Premium 2 Cear Refinery Abreu e Lima Refinery - PE Hydroelectric Powerplant Belo Monte COMPERJ Refinery - RJ Premium 1 Maranho Refinery

0,2 0,3

In R$ Billion

0,4
0,5 0,5 0,5 0,5 0,6 0,7 0,7 0,7 0,9 0,9 1,2 1,3 2,2 2,9 3,4 4,0 4,0 4,5 5,3 5,4 6,1 6,7 6,9 13,1 Mills presence

16,0
22,0 25,7 26,2 29,2 40,2 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Scheduled dates for start and end of construction jobs

2005

Source: Anurio Exame 2011-2012 - Infraestrutura

10

The evolution of the work from the contracts signed in 2011 and the new contracts will contribute to the growth of the utilization rate in the coming months
Important contracts per stage in the evolution of the monthly revenue from the Heavy Construction works
(Basis 100= Maximum monthly revenue in the life of construction)

Newly hired

Contracts with growing equipment volumes

Contracts with high volume of equipment

Contracts in the demobilization process

Source: Mills

Hydroelectric Colider Natal Stadium BRT Transcarioca Subway line 5 SP Porto Maravilha

Hydroelectric Powerplant Jirau Comperj Refinery Maracan Stadium Man Garrincha Stadium Recife Stadium Norte Sul Railway EMBRAPORT So Paulo Beltway Eastern Section Monorail Line 2 - SP

Fonte Nova Stadium Southeast Port Abreu e Lima Refinery Transnordestina

Carajs Expansion Suape Petrochemical

Revenue Index

Time

11

Characteristics of the major projects in progress

Source of Funds
PublicPrivate Partnership 19% Public 24%

Stage of the Contract

End (>2/3 of deadline 24% Beginning (<1/3 of deadline) 24%

Private 57%

Middle (between 1/3 and 2/3 of the deadline) 52%

Average duration= 20 months

12

Technological Innovation: application of Alumills in several projects in progress

Subway Line 5 So Paulo, SP Man Garrincha Stadium Braslia, DF Datacenter Santander Campinas, SP

13

Heavy Construction division Financial performance

In R$ millions

45.0 52.0%
40.0

51.5% 37.1
36.9 46.5%

41.7
39.4 51.9%

42.7

60% 54.0% 46.2% 31.8 33.2 30.6

40%

52.2% 34.2

35.0
30.0

32.8

51.6%

35.7 45.9%

48.9%

36.1

50%

33.0% 25.0

35.6%

32.5% 29.5% 20.3

17.2 21.6

38.8% 22.3 26.0% 25.5% 15.6

13.3 14.1 20% 19.5 30%

20.0
15.0

19.1 17.1

24.4%
16.4

28.5%

18.8% 10.0
5.0

17.5% 14.4%
12.1%

8.6
10% 4.5%

1Q09 2Q09 3Q09 Net Revenue

1

0% 4Q09 1Q10 2Q10 EBITDA 3Q10 4Q10 1Q11 2Q11 3Q11 ROIC 4Q11

EBITDA Margin

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.

14

Jahu - Residential and Commercial Division

Via construction project Braslia, DF

15

Jahu Residential and Commercial division

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 Main clients are the Brazilian largest real estate companies, such as

16

Residential and Commercial market outlook

Governmental programs and the increasing penetration of real estate financing indicate solid growth potential for the residential and commercial real estate segment Brazilian housing deficit is of at least 7.2 million houses New 700,000 units per year are required to couple with the demographic growth of the Brazilian families

Housing financing has increased 5x in the last five years, driven by credit availability, lower inflation and
lower interest rate Housing financing is very small compared to other countries. In 2009, the Brazilian total housing financing/GDP was 3%, compared to 77% in England, 68% in USA, 28% in France and 20% in Chile. In 2010, the Brazilian total housing financing/GDP was 4% and it is expected to reach 11% by 2014. Government program for low income housing, Minha Casa Minha Vida, targets investments of R$ 278 billion in the 2011-2014 period. Lack of labor, higher labor costs and need to shorten construction cycle will demand more industrialized processes in the Brazilian residential and commercial construction market.
Source: Brazilian Central Bank , ABECIP Associao Brasileira das Entidades de Crdito Imobilirio e Poupana and PAC2 Report

17

The use of industrialized building processes in construction projects is still limited

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 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

Company facing lack of skilled labor?

no 11

yes 89

Source: Sondagem Especial Construo Civil, April 2011, CBIC and CNI

The percentages do not sum 100% because each entrepreneur could choose up to three options

18

Technological Innovation: launch of Mills Deck Light and the Mast Climbing Platforms

Shopping Iguatemi project So Paulo, SP

Saun project Braslia, DF

19

Technological Innovation: consolidation of the Easy Set formwork

Project for Minha Casa, Minha Vida program Queimados, RJ

20

Jahu Residential and Commercial division Financial performance

In R$ millions

60.0 52.4%

60%

50.5% 50.0 48.4%

45.3% 53.3% 46.0%

52.5 50% 42.8%

35.5%

42.0% 38.8% 34.7 29.2 32.8

41.6%

45.5%

40.0 30.4% 28.7%

25.6% 20.0 14.1 14.7 15.1 7.7 9.7 29.2% 27.9

39.4

40%

30.0

27.4%

30% 23.9

22.7 18.3

23.6% 21.8

21.3%

22.3%
16.4 20%

10.3

11.9 10.0

11.6

15.2% 12.3

13.5
13.0% 12.5%

16.3% 10%

10.0

7.1

7.3

1Q09 2Q09 3Q09 Net Revenue

1

0% 4Q09 1Q10 2Q10 EBITDA 3Q10 4Q10 1Q11 2Q11 3Q11 ROIC 4Q11

EBITDA Margin

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.

21

Industrial Services Division

Paul Wolff Plataform, Estaleiro Mau (shipyard) Niteri, RJ

22

Industrial Services division

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 division Recurring and less volatile revenue base Labor intensive, instead of capital intensive, as the other divisions Industries served: oil & gas, petrochemicals, pulp & paper, steel, among others Unique exposure to Brazilian industrial capacity growth and oil & gas industry

23

Industrial Services market outlook

Recent oil field discoveries have taken Brazil into a new level within the Oil & Gas scenario, while other basic industries are also due to receive significant new investments Driven by the recent pre-salt discoveries, Brazil oil & gas reserves have the potential to increase by more than 3x, from 15 to 51 billion boe, transforming Brazil into the worlds 9th hydrocarbons reserves holder Total investment in Oil & Gas in Brazil is expected to be R$ 378 billion in the period 2011-2014, of which R$ 303 billion, or 80%, from Petrobras Total investment in the Brazilian industry should amount R$ 1.0 trillion in the period 2011-2014 Fixed investments in Brazil is expect to range from 19% to 22% of GDP in the next 3 years

Source: Department of Energy of the US, Petrobras, ANP and BNDES

24

Technological Innovation: Mills Habitat and Benarx product line

Mills Habitat

Epoxy Box - Benarx

25

Industrial Services division Financial performance

70.0

In R$ millions

35%
32.7%

60.0
52.5 50.0 22.1% 18.4% 40.8

56.4 50.2

57.5

30% 56.9 50.2 25% 20%

17.7%
40.0 15.8%

46.5
17.3% 14.9%

16.4% 36.1 14.7%

41.2
15.3%

40.0

14.9% 13.4%

14.8%

14.2% 12.2%
14.2%

15% 10% 5% 0% -5% 2.3 -10% 4Q11

30.0 23.4
20.0 0.8%

10.3%

9.6%

7.2% 4.7%
-1.2%

3.2% 9.0
7.0 8.1

10.0

-6.5% 0.2

5.3

6.3

6.3

6.9

5.8

6.1

4.1

1Q09 2Q09 3Q09 Net Revenue

1

4Q09

1Q10

2Q10 EBITDA

3Q10

4Q10

1Q11

2Q11

3Q11 ROIC

EBITDA Margin

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.

26

Rental Division Motorized Access Equipment

Energia Elica de Praia Formosa Camocim, CE

Rental division - Motorized Access Equipment Rental

Serves all Mills divisions 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 divisions

28

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
2% 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 Brazilian fleet should increase at average annual rate of 17% in the next few years and reach

25,000 units by 2014

Source: Terex and Mills

29

In 2011, the Brazilian fleet of motorized access equipment grew 46.2% compared to 2010

Motorized access equipment fleet

in thousand of units

Fleet profile Brazil - 2011 Total: 15,777

Telescopic handlers 12%

30

25
+16.6% p.a.

25

20
+46.2%

15
+34.9%

16
USA - 2010 Total: 789,000
Telescopic handlers 22%

Aerial work platforms 88%

10 8 5

11

0 2009 2010 2011 Colunas1 2014E

Aerial work platforms 78%

Source: Mills and Terex

30

Rental division Financial performance

In R$ millions

60.0
54.9

70% 60.4%
57.7% 58.6%

50.0

57.0%

54.2%

55.8%

56.6%

56.0% 47.6%

54.1%

56.0%

60%

45.6 47.6%
50%

41.2 33.7

40.0 30.8 30.0

21.3 18.9 30.7

40%

25.8 22.3 19.6%

11.9 14.6 17.3%

21.7

30%

20.0

22.9% 19.8% 12.0

12.1 18.6% 14.6

15.7

20.5% 17.223.5%
9.8

14.7 18.7%

17.3%

17.1% 12.9%

20% 18.6%

10.0

7.3

7.0

7.9

9.2

10%

0%

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10
EBITDA

3Q10

4Q10

1Q11

2Q11

3Q11
ROIC

4Q11

Net Revenue
1

EBITDA Margin

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.

31

Agenda

Executive Summary Mills divisions

Financial performance

Growth plan

32

Mills Financial performance

Mills has excellent financial track record with average revenue growth of 37% per year and average EBITDA growth of 68% per year in the last four years.
Net Revenues (R$ million) EBITDA (R$ million) and EBITDA Margin (%)
CAGR 07-11: 68% CAGR 07-11: 37%

678

16%

30%

39%

35%

35%

550
Acquisition of Jahu Start-up Equipment Rental Division Sales of Events Division

238 195

404

158
Entrance of PE Funds

299

192

90

30

2007

2008

2009

2010

2011

2007

2008

2009

2010

2011

33

Mills Financial performance

Net earnings had an average annual growth of 72% p.a. in the last five years.

Net earnings (R$ millions)

103.3
CAGR 07-11: 72%

Net debt (R$ millions) and Net debt/EBITDA

Net debt/EBITDA

1.0x
92.2

2.1x

1.2x

-0.1x

1.6x
375.8

68.4

187.7

182.4

30.6

10.5

31.3
-9.7

2007

2008

2009

2010

2011

2007

2008

2009

2010

2011

34

EBITDA reached R$76,4 million in 4Q11

EBITDA (R$ millions) and EBITDA margin (%)
80.0 40.9% 70.0 60.0 50.5 50.0 42.8 40.0 31.6
30.0 15.0%

76.4 39.8% 36.7% 37.0% 38.4% 39.5% 37.6%

36.4%

45.0% 40.0%

38.4%

35.4%
58.0

55.9 45.6 37.7

29.0% 50.8

35.0% 30.0% 25.0% 20.0%

29.4% 45.4

52.8

42.8

20.0 10.0 0.0 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 EBITDA 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 EBITDA Margin

10.0% 5.0% 0.0%

35

Agenda

Executive Summary Mills divisions

Financial performance

Growth plan

36

We invested R$ 430.4 million in organic growth in 2011

Capex
in R$ million

450 400
349

430 18

2012 Capex (%)

350 300

Rental
163

42%

15

131

250

Industrial Services
17

6%

200
150

25 127 17 53

104

185

Jahu - Residential and Commercial

22%

100 50 0
2010 2011 7 28 22 2012 Budget

74 47

Heavy Construction

17%

37

We are present in 13 states of Brazil with 43 branches

Branch locations
As of December 31, 2011

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

38

Mills: The Best Way to Invest in Brazilian Infrastructure Sector

Forte e Slido Desempenho Strong and Solid Financeiro Financial Performance

Fortes Barreiras Strong De Entrada Barriers to Entry

Equipe de Gesto Experienced Experiente Management Team

Condies Unprecedented Macroeconmicas Macro Economic Incomparveis Conditions

Modelo de Negcio Attractive Dinmica SetorialUnique Business nico com fortes Industry Atraente em todosModel with Solid Vantagens Competitive Dynamics in os Segmentos competitivas Advantages Each Business

39

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