December 2017

BEMISA GROUP

• Bemisa Group was created in 2007 and holds a diversified portfolio composed of 14 projects spread out in 7 Brazilian states.

SINCE 2007

MISSIONExplore, develop and operate

opportunities in the mineral sector.

VISIONTo be a competitive company in the mineral sector, adding value to our

shareholders and developing projects in a sustainable way.

Engineering

Exploration

Operating

R&D

TEAMThe Bemisa Group includes

multidisciplinary team with ample experience and proven success in

the exploration, development, and operation of mineral assets.

ÁGUA AZULGold

PLANALTO PIAUÍ

SANTA MARIA DA VITÓRIA

BARATINHA

SERRA AZULBAMBUÍ

JAURU

CANABRAVA

Iron Ore

Iron Ore

Iron Ore

Limestone

REEs

Nickel

PI

Phosphate

MG

PA

BAMT

GO

RJ

COMPLEXO DOCE VALE

Mineral Water

PEDRA BRANCA

Iron Ore

BEMISA GROUP

Gold

INAJÁ

NOVO MUNDO

Gold

Iron Ore

EXTRAMIL

BOCAINA

Iron Ore

OPPORTUNITY

• Shareholder:

• Opportunity is one of the largest independent asset managers in Brazil, with over US$ 8 billion under management;

• Opportunity was founded in 1994 as an independent asset manager.

• Main Investments (Private Equity):

BEMISA Group (Mining);

Santos Brasil (Logistics);

Agro Santa Bárbara (Agribusiness);

PetroRecôncavo (Oil & Gas).

OPPORTUNITY PRIVATE EQUITY

Exploration, production, transportation, processing and trading of oil and natural gas on-shore.

o The largest independent oil producer in

onshore fields in Brazil.

o Petrorecôncavo operates 17 fields,

with 365 active oil wells, in the

Recôncavo Basin, where can be found

the majors Brazilian reserves of oil

onshore.

o Has an average production of near

4,630 barrels of oil and 340 barrels of

gas per day.

o In 2021 expects to reach an average

daily production of 8,717 barrels of oil.

PETRORECÔNCAVO SANTOS BRASIL AGRO SANTA BÁRBARAManagement of port facilities, with integrated logistics

solutions, container handling and related activities.Crop-livestock integration. Cattle raising, expertise in

insemination technology and grain farming .

o Owns one of the largest cattle

herds in Brazil, with 210,000

animals in an area of 515,000

hectares.

o In 2011 started to develop soybeans

and corn crops, promoting an

integration of crop and livestock in

its assets, what resulted in great

productivity gains.

o Currently, produces soybean in an

area of 13,800 hectares and corn in

an area of 6,300 hectares.

o Santos Brasil is Brazil’s largest container

operator with terminals in three ports:

Santos, Imbituba and Bacarena.

o The terminal in Santos Port is the

largest and busiest in South America.

o In 2016, the company handled

1,016,394 containers, which

represented a participation of 15.6% in

Brazil’s total operation.

o Also has one Vehicle Terminal, located

in Santos Port, with capacity to operate

300,000 vehicles per year.

BEMISA GROUP INVESTMENTS

59 92

121 146

190

256

330

445

551 584

0

100

200

300

400

500

600

700

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

R$

Mill

ion

s

Accumulated Investments

Planalto Piauí Project

PLANALTO PIAUÍ PROJECT

• Ore:

Iron Ore

• Location:

Piauí State

• World class mining project;

• Resources certified by SRK Consulting;

Resources of over 1 billion tons (@27% Fe) of iron ore:

o Over 62,000 meters of drilling campaign.

• Final product with premium quality:

High iron ore content (@70% Fe) and contaminant levels below market’s standards;

• Annual production of 15 Mtpy of premium Pellet Feed Fine;

• Basic Engineering have been concluded by SNC Lavalin;

• Transnordestina railway will pass within 6 km of Planalto Piauí Project;

• Installation License (LI) for mine, beneficiation plant and infrastructure implementation;

• Mining concession issued by the Brazilian Mining and Energy Ministry.

Planalto Piauí Project

Paulistana

Tenements located within the districts of Paulistana, Curral Novo do Piauí, and Simões.

BRASIL

PROJECT LOCATION AND IRON ORE FORMATION

“Measured, Indicated and Inferred iron ore resources of about 1,003 Mt at 27.05% Fe.”

Source: SRK Consulting, 2013

Classification Tonnage (Mt) Fe (%) FeO (%)

Measured 253 27.70 11.39

Indicated 575 26.76 11.08

Inferred 175 27.07 10.44

Total 1,003 27.05 11.04

CERTIFIED RESOURCES

26.9%44.8%

Iron Ore

Pellet Feed Premium

5.4%

o Mass Yield: 31.3 %;

o Metallurgic Recovery: 81.7 %;

o 1 cobber stage followed by 4 low intensity magnetic separation stages will be enough toproduce a premium PFF;

o Flotation processes are not necessary to obtain this final commercial product;

o Final Product with Excellent Quality: high grade of iron and low levels of contaminants.

Iro

n O

re

Ben

efi

ciat

ion

SiO2Fe Al2O3

Fe70.4%

SiO2

2.2%

Al2O3

0.2%

PRODUCT QUALITY

REGULATORY & ENVIRONMENTAL LICENSING

• The Environmental Impact Study and Report (EIA RIMA) was submitted for a public hearing and approved;

• Preliminary License (LP) was obtained for mining operation, process plant and infrastructure implementation;

• The Installation License (LI) was issued, allowing the start of implementation work on Planalto PiauíProject;

• Mining concession issued by the Ministry of Mines andEnergy (MME).

Water Supply

Poço de Marruá Dam is located at approximately 60 km from the Project and

has a capacity of 300 million cubic meters of water.

The BEMISA Group has a definitive grant issued by SEMAR for pumping of 15 million cubic meters of water annually, enough to

satisfy future demand.

Power Supply

Planalto Piauí Project is located about 10 km away from a transmission line of 500kV, which connects the cities of São João do

Piauí (PI) and Milagres (CE).

Brazilian Mining and Energy Ministry has already issued to Planalto Piauí Project the

right to be connected and to use this electric power system.

EXCELLENT INFRASTRUCTURE

INTEGRATED PROJECT – MINE AND LOGISTIC

Source: Transnordestina information (dez/2016).

Exchange rate: R$ 3.30/US$.

HIGHLIGHTS

High quality iron ore Project;

World class railway;

BEMISA Group has a MOU withTransnordestina for transportationoperation;

The company is registered as user-dependent of railway service by NationalAgency for Land Transportation.

Transnordestina Railway is locatedwithin 6 km from Project’s main target;

Private port;

Deep port connection.

SUAPE

GOVERNMENTAL SUPPORT

• Planalto Piauí Project has strong political support from Brazilian governmental authorities;

• Piauí State has one of the lowest GDPs of the country.

Planalto Piauí Project

Advanced Exploration with Positive Results

Final Product with High Grades of Iron Content and Low Levels of Contaminants

Governmental Support

Basic Engineering Concluded

Excellent Logistics and Infrastructure

Installation License & Mining Concession

FINAL REMARKS