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Corporate PresentationJune 2013


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Disclaimer

2

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).


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Agenda

Executive Summary

Mills business segments

Growth plan

3


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182

90

250

115

214

20

273

150

920.0

374.1

0

100

200

300

400

500

600

700

800

900

1000

Net Revenue EBITDA

Rental

Industrial Service

Jahu - Residential andCommercial

Heavy Construction

4

30%

23%

27%

20%

% Total

1Q13LTM Financial highlights per business segment

40%

5%

31%

24%

% Total

Total

54.9%

9.1%

45.9%

49.3%

40.7%

EBITDAMargin (%) ROIC (%)

18.0%

4.8%

14.9%

17.7%

14.7%

1 1Q13 LTM Last twelve months ended March 31, 2013.

Mills Financial performance per business segment

R$ million


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199.1211.1

222.2 222.2

246.8239.9

86.2 84.496.1

90.4 91.7102.0

32.739.2 38.0 34.7

41.6 39.3

43.3%

40.0%

43.2%40.7%

37.1%

42.5%

15.1% 13.6% 15.8%14.5%

14.5%14.9%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

0.0

50.0

100.0

150.0

200.0

250.0

300.0

1Q12 2Q12 3Q12 3Q12* 4Q12 1Q13

Net Revenue EBITDA Net Earnings EBITDA Margin ROIC

5

MillsFinancial performance

In R$ millions

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 consideringa theoretical 30% income tax rate.

* Excluding the positive impact of the provisions reversal in the amount of R$ 6.8 million in 3Q12

1Q13/1Q12 + 20.5% + 18.2% - 80 bps - 20 bps+ 20.2%

1Q13/4Q12 - 2.8% + 11.2% + 540 bps + 40 bps- 5.7%

550

678

879

195

238

358

104 92

152

35.0% 35.0%

41.0%

21.0%

12.3% 14.7%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

0

100

200

300

400

500

600

700

800

900

1000

2010 2011 2012

CAGR 10-12 +26.5% + 35.7% +21.1%


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Agenda

Executive Summary


Growth plan

6


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Heavy Construction

BRT Transcarioca - RJ


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39.3

41.9

45.5 45.547.3

47.5

18.9

21.2

24.122.8

20.2

24.3

48.0%

50.6% 52.9%50.2%

42.7%

51.3%

16.6%

17.8%19.7% 18.3%

14.8%

18.6%

0%

10%

20%

30%

40%

50%

60%

0

5

10

15

20

25

30

35

40

45

50

1Q12 2Q12 3Q12 3Q12* 4Q12 1Q13

Net Revenue EBITDA EBITDA Margin ROIC

Heavy Construction Financial performance

8

In R$ million

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 atheoretical 30% income tax rate.

* Excluding the positive impact of the provisions reversal in the amount of R$ 1.5 million in 3Q12

+ 20.7% + 29.0% + 330 bps + 200 bps

+ 0.4% + 20.7% + 860 bps + 380 bps

1Q13/1Q12

1Q13/4Q12

+ 6.2% + 7.0%CAGR 10-12

154

132

174

74

58

84

48%

44% 48%

24.1%

12.1%

17.2%

0%

10%

20%

30%

40%

50%

60%

0

20

40

60

80

100

120

140

160

180

200

2010 2011 2012


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Important contracts per stage in the evolution of monthly revenue from the heavy

construction projectsNew

contracts*Contracts with

growing volume ofequipment

Contracts with highvolume of equipment

Contracts in thedemobilization process

Source: Mills

Time

RevenueIndex

(Basis100=Maximumm

onthlyrevenuein

thelifeofconstruction)

Newcontracts*

New phases ofBelo Monte hydroeletric powerplantOeste Leste railway New stretches of Subway lines 4 and 5 - SP New stretches of Monorail lines 2 and Silver

New stretches of Fortaleza BRT and airport BRT Belo Horizonte BRT Sul Distrito Federal

New stretches ofNorte-Sul railway Expansion of theAtlntico Sulshipyard Navy base shipyardParaguau shipyard

Duplication of the BR-101

NortheastVales mine and railway Companhia Siderrgica de Pecm steel mill

Belo Monte hydroelectricpowerplantNorte-Sulrailway Monorail line Gold Subway lines 4 RJ and 5 SP Guarulhos airport Braslia airport BRT Fortaleza Light rail Cuiab East Ring road SPAu portPorto Maravilha

Surroundings of the Maracanstadium Surroundings of theCorinthians Arena

Jirau, Colderand Teles Pireshydroelectric powerplantsAbreu e Lima refineryComperjrefinery

Monorail line Silver - SP

Viracopos airport Manaus airport BR-448 BRT Transcarioca Metropolitan arch RJParanaenses arena

Beira-Rio stadium

Subway line 2 - SP CSN steel plantTransordestina railway BRT Belm

Serra Leste mine


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The construction work related to World Cup and Olympic events represented 25%

of the Heavy Construction business segments 1Q13 revenue

10

Source: 4th 2014 World Cup Report and Mills

1Q13 RevenueR$ 47.5 million

World Cup and

Olympics25%

Industry31%

Infrastructure34%

Others9%

4.2

2.9

9.0

6.8

0.7

Stadiums Urban mobility Airports Ports

In progess

Concluded

Investments in Infrastructure for the 2014 World CupTotal: R$ 23.6 bil lion

1 7 of the 30 airport projects were concluded, however there is no information abouttheir investments


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18.5

23.5

- 20 40 60

Up to 20 years

In the f irst 5 years

HighwaysIn R$ billion

53.5

133.7

- 30 60 90 120 150

Up to 20 years

In the first 5years

TotalIn R$ billion

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

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

Total: R$ 187 billion

New logistic investment program

54.2

- 20 40 60

Colunas2

Colunas3

PortsIn R$ billion

Total: R$ 54 billion

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

35.0

56.0

- 20 40 60

Colunas3

Colunas2

RailwaysIn R$ bill ion


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Jahu - Residential and Commercial

Reserva do Paiva Pernambuco


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52.5

58.960.5 60.5

66.0 64.9

26.3 27.2

33.8

29.426.1

27.7

50.1%

46.1%

55.9%

48.6%

39.6% 42.8%

15.6% 14.8% 20.2%

16.9%12.6% 12.8%

0%

10%

20%

30%

40%

50%

60%

0

10

20

30

40

50

60

70

1Q12 2Q12 3Q12 3Q12* 4Q12 1Q13


Jahu Financial performance

13

In R$ millions

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

* Excluding the positive effect of R$ 5.3 million of tax contingency reversal in 3Q12

1Q13/1Q12

1Q13/4Q12

+ 23.6% + 5.5% - 730 bps - 280 bps

- 1.8% + 6.1% + 320 bps + 20 bps

CAGR 10-12 + 50.5% + 60.7%

105

156

238

44

66

113

42% 42%48%

23.5%

14.3%

15.7%

0%

10%

20%

30%

40%

50%

60%

0

50

100

150

200

250

2010 2011 2012


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19%12%

17%

7%

18%

32% 45% 36%

43%

32%

32%

34%34%

36% 37%

9%

3%2%

1% 1%

8% 6% 11% 13% 12%

45.3 48.5 49.2 49.9 53.3

1Q12 2Q12 3Q12 4Q12 1Q13

Others

Industrial

Commercial

Residential - others

Residential - listed

companies

14

Commercial projects contributed 37% of 1Q13 equipment rental revenues

In R$ million

Residential51 %

Residential57 %

Residential53 %

Residential50%

Residential50%


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Jahu Revenue Breakdown

100%

85%

61%

49%

15%

39%

51%

2009 2010 2011 2012

New branches

Established branches

1 Branches opened since November 2009

Growth drivers in the residential market: geographic expansion

1


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16Source: BACEN and FGV

Housing FinancingIn R$ million

Growth drivers of the residential market: housing financing


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10.76.8 3.6

38.2

28.0

20.1

37.0

49.7

58.4

8.1 9.8 11.7

6.0 5.7 6.2

2002 2009 2014E

Class A

Class B

Class C

Class D

Class E

Higher purchasing power of the Brazilian population

17

-0.4%

+3.9%

+7.1%

In million families

+33.2 millionfamilies with income

betweenR$ 1,000 to 8,000

Growth rate(%, p.a.)

Source: IBGE and FGV

Growth drivers of the residential market: higher purchasing power


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18Source: Sondagem Especial Construo Civil, April 2011, CBIC , CNI, Tchne Magazine, June 2012 and Mills

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

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

System Traditionalwith wood

Deck Type FlyingTable

Cycle betweenconcreting activities

15 days 6-8 days 4-7 days

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


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19

Great penetration of concrete wall for the Minha Casa, Minha Vidaprogram

Use of concrete wall should reach 40% of the properties of the Minha Casa, Minha Vida program in2014/15; escalating the sales potential of our product Easy Set formwork.

3%

97%

2010/11

15%

85%

2012/13

40%

60%

2014/15

30,000 HU 150,000 HU 400,000 HU

Concrete wall construction Construction using other systems

Source: Criative

R t l M t i d A E i t


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Rental Motorized Access Equipment

Castelo Stadium Fortaleza, CE


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56.5 55.4

67.4

74.276.1

34.931.4

38.0 36.9

43.6

61.8%

56.6% 56.5%

49.8%

57.3%

20.3%

16.3%

16.3% 16.9%19.1%

0%

10%

20%

30%

40%

50%

60%

70%

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

1Q12 2Q12 3Q12 4Q12 1Q13


Rental Financial Performance

21

In R$ million


+ 34.8% + 24.9% - 450 bps - 120 bps

+ 2.6% +18.0% + 750 bps + 220 bps

1Q13/1Q12

1Q13/4Q12

+ 63.3% +66.4%CAGR 10-12

95

175

253

51

94

141

54%53%

56%

19.2%

16.5%

18.2%

0%

10%

20%

30%

40%

50%

60%

0

50

100

150

200

250

300

2010 2011 2012


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Rental Awards

22

2012 IDF Award (ndice de Desempenho Fornecedor- SupplierPerformance Index) from Vale: best material supplier for Vale inBrazil.

2011 Best Company for Access of the Year" by the International

Awards for Powered Access (IAPA Awards)


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23

Rental Revenue Breakdown

69%

42% 38%

31%

58%62%

2009 2010 2011 2012

New branches

Established branches

1 Branches opened since January 2010

Growth drivers in the motorized access equipment market: geographic expansion

1


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Motorized Access Equipment Rental market outlook

24

Current underutilization of motorized access equipment in Brazil and favorable regulationindicate 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

Brazilian fleet should increase at average annual rate of 14% in the next few years and reach

40,000 units by 2017

Source: Mills


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In 2012, the Brazilian fleet of motorized access equipment grew 32.1% compared to 2011

25Source: Mills and Yengst Associates

+34.9%

+46.2%

+32.1%

+13.9% p.a.


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26

Industrial Services

Estaleiro Mau (shipyard) Niteri, RJ


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Industrial Services Financial performance

27

50.954.8

48.8

59.3

51.5

6.24.7

0.1

8.46.3

12.1%

8.5%

0.2%

14.2%12.2%

7.5%

3.9%

-6.2%

13.3%

8.9%

-10%

-5%

0%

5%

10%

15%

20%

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

1Q12 2Q12 3Q12 4Q12 1Q13


In R$ millions


+ 1.2% + 2.0% + 10 bps + 140 bps

- 13.2% - 25.3% - 200 bps - 440 bps

1Q13/1Q12

1Q13/4Q12

+ 4.6% - 13.8%CAGR 10-12

195

215 214

26

21 19

13%

10%

9%

16.0%

5.9%

4.6%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

0

50

100

150

200

250

2010 2011 2012


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Agenda

Executive Summary


Growth plan

28


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29

in R$ million

Capex

7447 51

2254

89

104185

60

25

112

112

25

17

5

0

6

6

131

163

161

73

124

27415

18

21

8

349

430

297

128

296

481

0

100

200

300

400

500

600

2010 2011 2012 1Q13 Previous Revised

Rental

Industrial Services

Jahu - Residential andCommercial

Heavy Construction

Our 2013 capex budget for rental equipment was revised upward to R$ 481 million

2013 Capex Budget


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30

1.0x

0.7x0.7x

0.8x

1.9x 1.9x

1.7x

1.5x

1.3x

1.2x 1.2x 1.2x

0.0

0.5

1.0

1.5

2.0

2.5

2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13

Net Debt/LTM EBITDA

Target = 1.0x

Capturing opportunities maintaining the commitment to low leverage


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31

Evolution of the number of branches

5 6 6 6 6 68

5 6

14 1516

16

4

44

66

7

7

44

14

1617

18

2007 2008 2009 2010 2011 2012 Colunas1 1Q13

Rental

Industrial Services

Jahu - Residential and

Commercial

Heavy Construction

9

1920

40

43

46

49+3


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Mills Investor Relations

Tel.: + 55 21 2123-3700E-mail: [email protected]

www.mills.com.br/ri
mailto:[email protected]:[email protected]

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