Corporate Presentation

April 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 Comissão de Valores Mobiliários (CVM).”

2
Agenda

Executive Summary

Mills’ business segments

Financial performance

Growth plan

3
Mills at a Glance

One of the largest specialty engineering services company in Brazil

60 years of market leadership

4 business segments:

Heavy Construction Rental

Jahu Industrial
Services

4
Mills – Financial performance per business segment

2012 Financial highlights per business segment

R$ million

1000
EBITDA
879.3 Margin (%) ROIC (%)
900 % Total

800 Rental 55.7% 18.2%

253 29%
700

Industrial Services 9.1% 4.6%

600

214 24%
500
Jahu - Residential and 47.7% 15,7%
400 358.4 % Total Commercial

300 238 27% 141 39%

Heavy Construction 48.5% 17.2%
200 19 5%

113 32%
100 Total 40.8% 14.7%
174 20%
84 24%
0
Net Revenue EBITDA

5
Mills – Shareholder Structure

% Total Capital

Nacht family1
36%

Free float
61%

Management
3%

Position: December 31, 2012

1 includes Snow Petrel
6
Agenda

Executive Summary

Mills’ business segments

Financial performance

Growth plan

7
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: 288 at the end of 2012

São Paulo’s Subway – Yellow Line Santo Antonio Hydroelectric Power Plant Dutra Highway Overpass (São Paulo)

9
Heavy Construction – market outlook

• Investments in infrastructure and industry in Brazil should amount R$ 1.5 trillion in the 2013-2016
period

Industry investments 2013-2016 Infrastructure investments 2013-2016

R$ 1,033 billion R$ 489 billion

Airports
Ports 9
Oil and Gas 24
Others 405
483 Roads
69
Energy
166

Railways
77
Mining
57 Sanitation Telecom
Pulp and Paper
Chemical Steel 42 102
30 28
30

Growth compared to the 2008-2011 period (%)

22% 36%

10
Source: BNDES – February 2013
New logistic investment program

Highways Railways Ports Total

In R$ billion In R$ billion In R$ billion In R$ billion

In the first 5 133.7

In the first 5 years 23.5 Colunas2 Colunas3
56.0 54.2
years

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 Total: R$ 91 billion Total: R$ 54 billion Total: R$ 187 billion

(7,500 km) (10,000 km)

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

11
The construction work related to World Cup and Olympic events represented 22% of the
Heavy Construction business segment’s 4Q12 revenue

Investments for the 2014 World Cup 4Q12 Revenue

Total: R$ 27 billion R$ 47.3 million

Others World Cup and

14% Olympics
12.0 22%

7.4
6.8

Infrastructure
Industry
39%
25%

0.9

Stadiums Urban Mobility Airports Ports

Source: “3º Balanço das ações do Governo Brasileiro para a Copa” Report on April 2012 and Mills 12
 Sport events: the cherry of the cake

12 stadiums 0.4 hydroelectric

= 5 highways1 = 1 railroad2 =
(R$ 6.7 billion) powerplant3

1 Considering the average investment of the Bus Rapid Transit (BRT): Transcarioca (R$ 1.3 billion), Transolímpica (R$ 2.2 billion) and Transoeste (R$ 0.7 billion)
2 Investiment in the Norte-Sul railway (R$ 6.7 billon)
3 Investment in the Santo Antônio hydroelectric powerplant (R$ 16.0 billion)
13
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 with Contracts with high Contracts in the

contracts* growing volume of volume of equipment demobilization process
equipment
• Jirau, Colíder and Teles Pires • Subway line 2 - SP
• Belo Monte hydroelectric
hydroelectric powerplants • Maracanã stadium
powerplant
• Abreu e Lima refinery • Mané Garrincha stadium
• Monorail line Gold
• Paranaenses arena • Sudeste port
• Subway line 5 – SP
• Monorail line Silver - SP • Ponta da Madeira port
• Subway line 4 – RJ
• Serra Leste mine
• Açu port
Revenue Index

• Verdão stadium
• Light rail Cuiabá
• Norte-Sul railway
• New phases of Ponta da Madeira
port • Transordestina railway
• BR-448
• Comperj refinery
• Manaus airport
• BRT Transcarioca
• Porto Maravilha
• Aratu Port
• Metropolitan arch – RJ
• Carajás railway
• BRT Belém

Time
• New phases of Belo Monte hydroeletric powerplant • Viracopos airport
• New stretches of subway lines 4 and 5 - SP • Brasília airport
New • New stretches of Monorail line Gold • Surroundings of the Maracanã stadium
contracts* • BRT Fortaleza • Surroundings of the Corinthians Arena
• Guarulhos airport • Bridge over the Araguaia River
• Fortaleza airport • Expansion of Carajás mine
Source: Mills • Natal airport • Paraguaçu shipyard 14
Characteristics of the major projects in progress

Source of Funds¹

Public-
Private
Partnership
Public
29%
32%

Private
39%

15
¹In 4Q12
Construction – Applied technological innovation

Automatic SM Mills
Climbing
Formwork

Alumills

16
Heavy Construction – Financial performance

In R$ million
50.0 47.3 60%
45.5
52.2% 45.5
51.9% 52.9%
45.0 42.7
41.7 41.9
39.3 50%
40.0 54.0%
34.2 50.6% 50.2%
35.7 36.1 48.0%
48.9%
35.0 46.2% 33.2 33.2
45.9% 31.8 40%
30.6 43.5% 42.7%
30.0
25.5% 38.8%
28.5% 24.1
25.0 22.3 22.8 30%
24.4% 21.6 21.2
19.5 20.2
20.0 18.9
18.8% 26.0% 19.7%
15.6 17.5% 17.8% 18.3%
16.4 14.1 14.4 16.6% 20%
15.0 13.3 14.4% 14.8%
12.1% 12.0%
10.0 8.6
10%
4.5%
5.0

- 0%
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 3Q11* 4Q11 1Q12 2Q12 3Q12 3Q12* 4Q12

Net Revenue EBITDA EBITDA Margin ROIC¹

4Q12/4Q11 +31.2% +3.6% - 1,130 bps - 270 bps

4Q12/3Q12* +3.9% - 11.6% - 750 bps - 350 bps

* 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
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. 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

Planning, design, technical supervision, equipment and related services

Market leader

Innovative product - Easy-Set aluminum formwork - to serve low income housing construction

Clients are the Brazilian real estate companies, such as

Number of contracts: 4,361 at the end of 2012

19
Growth drivers of the residential market: housing financing

Housing Financing
In R$ million

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 5.7 6.2
Class A 60.4
8.1 9.8 11.7
+33.2 million
families with income Growth rate
Class B between (%, p.a.)
37.0 R$ 1,000 to 8,000

49.7 < R$ 1,000 -0.4%

58.4 31.7
Class C
29.1
27.2
>= R$ 1,000 and +3.9%
38.2 Class D <= R$ 8,000

28.0
20.1 5.9 +7.1%
> R$ 8,000
Class E 1.4
10.7 6.8 3.6
2002 2009 2014E 2007 2030E

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 Traditional Deck Type Flying

with wood Table
Cycle between 15 days 6-8 days 4-7 days
concreting activities

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 Construção Civil, April 2011, CBIC , CNI, Téchne Magazine, June 2012 and Mills
Great penetration of concrete wall for the Minha Casa, Minha Vida program

Use of concrete wall should reach 40% of the properties of the Minha Casa, Minha Vida program in
2014/15; escalating the sales potential of our product Easy Set formwork.

2010/11 2012/13 2014/15

3%

15%

40%

60%

85%
97%

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

Concrete wall construction Construction using other systems

Source: Criative

23
Applied technological innovation: reduction in labor and construction cycle

Mills Deck Light Alumalight SL-2000

Easy set Alumills Mast Climbing Platform

24
 Growth drivers in the residential market: geographic expansion

Jahu – Revenue Breakdown

15%

39% 1
New branches
51%

100%
85%

61%
49% Established branches

2009 2010 2011 2012

1
25
Branches opened since November 2009
Listed real estate companies contributed 7% of 4Q12 equipment rental revenues

In R$ million

Residential
Residential Residential Residential
57 %
51 % 53 % 50%

26
Jahu – Financial performance
In R$ millions

70.0 66.0 60%

55.9%
60.5 60.5
58.9 48.6%
60.0 50.1%
46.0% 46.1% 50%
45.3% 52.5 52.5
42.8%
42.0% 41.6% 45.5%
50.0 38.8% 39.6%
40%
35.5%
39.4
40.0
29.2% 34.7 33.8
32.8 30%
23.6% 21.3% 29.2 20.2% 29.4
30.0 27.9 27.2
26.3 26.1
22.7 23.9
21.8 20%
22.3% 16.3% 16.9%
15.2% 15.6% 14.8%
20.0 13.0% 16.4
12.5% 12.6%
12.3 13.5
11.9 11.6
10.3 10.0 10%
10.0

- 0%
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 3Q12* 4Q12
Net Revenue EBITDA EBITDA Margin ROIC¹

4Q12/4Q11 + 25.9% + 9.5% - 590 bps - 370 bps

4Q12/3Q12* + 9.1% - 11.2% - 900 bps - 430 bps

* Excluding the positive effect of R$ 5.3 million of tax contingency reversal 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 27
was calculated considering a theoretical 30% income tax rate.
Rental – Motorized Access Equipment

Castelão 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
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: 1,597 at the end of 2012

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

Brazilian fleet should increase at average annual rate of 14% in the next few years and reach
40,000 units by 2017

Source: Mills
30
In 2012, the Brazilian fleet of motorized access equipment grew 32.1% compared to 2011

Motorized access equipment fleet Fleet profile

In thousands of units
45 Brazil - 2012
Total: 21,000
40
Telescopic
40 handlers
35 11%
+13.9% p.a.
30
Aerial work
25 platforms
89%
20 +32.1%
21 USA - 2011
Total: 785,000
15
+46.2% 16
Telescopic
10 +34.9%
handlers
11
22%
8
5
Aerial work
platforms
0 78%
2009 2010 2011 2012 ... 2017E

Source: Mills and Yengst Associates 31

Growth drivers in the motorized access equipment market: geographic expansion

Rental – Revenue Breakdown

31%
1
New branches
58% 62%

69%

Established branches
42% 38%

2009 2010 2011 2012

1
32
Branches opened since January 2010
Rental – Financial Performance
In R$ million

80.0 70%
74.2
61.8% 67.4
70.0 57.0% 56.6% 56.6% 60%
55.8% 56.0% 56.5%
54.1% 54.8% 56.0%
60.0 56.5 49.8%
47.6% 47.6% 54.9 55.4 50%

50.0 45.6 45.6

41.2 40%
40.0 38.0
36.9
33.7 34.9
30.8 30.7 31.4 30%
20.3%
30.0 23.5%
25.8 17.1% 25.0
18.7% 17.3% 18.6%
21.3 22.3 21.7 16.9%
19.6%17.3% 18.9 16.0% 16.3% 16.3% 20%
20.0 17.2 12.9%
14.6 14.7
11.9
9.8
10.0 10%

- 0%
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 3Q11* 4Q11 1Q12 2Q12 3Q12 4Q12
Net Revenue EBITDA EBITDA Margin ROIC¹

4Q12/4Q11 + 35.3% + 20.2% - 620 bps - 170 bps

4Q12/3Q12 + 10.2% - 2.9% - 670 bps + 60 bps

* Excluding the positive effect of R$ 5.3 million of tax contingency reversal 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 33
was calculated considering a theoretical 30% income tax rate.
 Industrial Services

Rental – Financial performance

In R$ millions
70.0 67.4 70%

61.8%

60.0 57.0% 55.8% 56.6% 56.0% 56.0% 56.5 56.6% 60%

54.8% 54.9 55.4 56.5%
54.1%
50.40%
50.0 47.6% 47.6% 50%
45.6 45.6

41.2
40.0 38.0 37.4 40%
33.7 34.9
30.8 30.7 31.4
30.0 30%
25.8
23.5% 25.0
21.3
19.6% 22.3 21.7 20.3%
17.3% 18.7% 18.9
20.0 17.2 17.3% 18.6% 16.3% 16.3% 17.20% 20%
14.6 14.7 16.0%
11.9 17.1% 12.9%
9.8
10.0 10%

- 0%
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 3Q11* 4Q11 1Q12 2Q12 3Q12 4Q12

Net Revenue EBITDA EBITDA Margin ROIC¹

4Q12/4Q11 +35.3% +21.6% - 566 bps - 148 bps

4Q12/3Q12 + 10.2% +1.8% - 610 bps +83 bps

* Excluding the negative effect of R$ 3.3 million of Allowance for Doubtful Debt (ADD) in 3Q11

Ocean Star Platform – Angra dos Reis, RJ

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
34
was calculated considering a theoretical 30% income tax rate.
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: 114 at the end of 2012

35
Petrobras has announced its 2013 - 2017 Business Plan with investments totaling US$
236.7 billion in this period

Petrobras total investment plan for 2013-2017 period: US$ 236.7 billion

Petrobras pre-salt investment plan for 2013-2017 period: US$ 52.2 billion

US$ 147.5 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 2.75 Mbpd in 2017, with 1.0 Mbpd related to pre-salt

Critical resources needed up till 2020: # Petrobras Plataforms

94
CAGR’10-’20: +7.9%
65 drilling rigs 61
44
68 platform-vessels

361 special support vessels

2010 2015 2020

US$ 43.2 billion will be invested in refining, of which 45% to expand the refining facilities, the major

refinery projects being Abreu e Lima (PE) and Comperj (RJ).

36
Source: Petrobras – 2013-2017 Business Plan and Revista Exame (6/27/2012).
Industrial Services – Financial performance

In R$ millions

70.0 20%
17.7%
17.3%
14.9%
59.3
60.0 56.4 14.8% 57.5 56.9
54.8 15%
15.8% 14.2%
14.9% 52.5 13.4% 50.2 14.2%
14.2% 50.2 50.9
12.1% 48.8
50.0 13.3%
46.5 12.2% 10%
40.0 10.3% 9.6% 8.5%
7.2%
40.0
7.5% 5%
3.2% 4.7% 3.9%
30.0 0.2%
0%
20.0 -1.2%

8.1 8.4 -5%

10.0 6.3 6.9 7.0 5.8 6.1 6.2
4.1 4.7
2.3 -6.2%
0.1
- -10%
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12
Net Revenue EBITDA EBITDA Margin ROIC¹

4Q12/4Q11 + 18.2% + 259.6% +950 bps +1,450 bps

4Q12/3Q12 + 21.5% + 7,268.7% + 1,400 bps +1,950 bps

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.
37
Agenda

Executive Summary

Mills’ business segments

Financial performance

Growth plan

38
Mills – Financial performance
In R$ millions
300.0 50%

43.3% 43.2% 45%

40.0% 40.7% 246.8
250.0 39.5%
38.4% 37.6%
37.0% 36.4% 222.2 222.2 37.1% 40%
35.4% 211.1
34.2%
193.5 199.1 35%
200.0
29.4% 29.0% 175.1
164.0 30%
154.2 175.1
148.9 145.0
150.0 23.1% 131.3 25%
23.0% 20.3%
115.5
18.8% 20%
100.0 96.1 90.4 91.7
13.8% 76.4 86.2 84.4
12.7% 14.5% 15%
14.2% 13.6% 15.8% 14.5%
55.9 59.9 15.1%
50.5 52.8 58.0 50.8 10%
42.8 45.4 11.1% 41.6
50.0 8.6% 39.2 38.0 34.7
28.5 30.1 29.5 32.7
26.1 22.2 22.6
18.7 17.8 23.8 5%

- 0%
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 3Q11* 4Q11 1Q12 2Q12 3Q12 3Q12* 4Q12

Net Revenue EBITDA Net Earnings EBITDA Margin ROIC¹

4Q12/4Q11 +27.5%| +20.0% +41.0% - 234 bps +27 bps

4Q12/3Q12* +11.1% +1.4% +19.9% - 354 bps +3 bps

* 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 1.2x

1.0x Target = 1.0x

1.0

0.7x 0.8x
0.7x

0.5

0.0
2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12

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
in R$ million

450 430
18
400 349
2013 Capex
15
(%)
350
163
298 296
300 42%
21 Rental
161

250
17 124

200 Industrial Services 2%

25 161
6
150
185
104
5 112 Jahu - Residential and 38%
100 Commercial
60

50
74 Heavy Construction
47 51 54 18%
0
2010 2011 2012 2013 Budget

42
We are present in 14 states of Brazil with 46 branches
Branch locations
As of December 28, 2012

Roraima Amapá

Amazonas
Pará
Maranhão Ceará
Rio Grande
do Norte
Paraiba
Piaui
Pernambuco
Acre
Alagoas
Tocantins
Rondônia Bahia
Sergipe
Mato Grosso
Distrito
Federal
Heavy Construction
Goias Minas
Jahu Gerais
Industrial Services
Mato Grosso
Rental do Sul Espirito
São Paulo
Santo

Parana Rio de
States with Mills’ Presence 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