Mills Presentation

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

Who we are Mills Divisions

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 Important Projects

Excellent track-record of performance, having participated in the Brazilian largest projects over the last 59 years Rio Niteri bridge Itaipu

Octvio Frias de Oliveira bridge

Braslia

City of Arts

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
90

192

30

2007

2008

2009

2010

2011

2007

2008

2009

2010

2011

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

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 400 215

9.7%

5.9%

32% % Total
Jahu - Residential and Commercial

300

42.4%

14.3%

238
156

200

23%

94 21

39%
Heavy Construction

43.9% 35.1%

12.1% 12.3%

9% 28% 24%

100 132 0 Net Revenue

66

Total

19%

58 EBITDA

1.0

1.5

2.0

2.5

3.0

3.5

*Up to May 17, 2012.

Mills Shares performance

Ticker: MILS3

April 15, 2010 1.4

Market Cap
R$ billion

May 17, 2012, Market Cap = R$ 3.0 billion

Mills IBOVESPA Small Cap IMOB

May 11, 2012 3.2

IPOTD* + 108.7 % - 23.9 % +10.7 % - 10.5 %

14/04/2010 30/04/2010 17/05/2010 1/6/2010 17/06/2010 2/7/2010 20/07/2010 8/4/2010 8/19/2010 9/3/2010 9/21/2010 10/6/2010 10/22/2010 11/9/2010 11/25/2010 12/10/2010 12/28/2010 1/13/2011 1/31/2011 2/15/2011 3/2/2011 3/21/2011 4/5/2011 4/20/2011 5/9/2011 5/24/2011 6/8/2011 6/24/2011 7/11/2011 7/26/2011 8/10/2011 8/25/2011 9/12/2011 9/27/2011 10/13/2011 10/28/2011 11/16/2011 12/1/2011 12/16/2011 1/3/2012 1/18/2012 2/3/2012 2/22/2012 3/8/2012 3/23/2012 4/10/2012 4/25/2012 5/11/2012

Mills Shareholder Structure

% Total Capital

Nacht Participaes + Snow Petrel 37%

Free float 58%

Management 5%

Position: 03/31/2012

10

Mills Main produtos Project

11

Mills Main produtos Concrete Forms

12

Mills Main produtos Shoring

13

Mills Main produtos Access

14

Mills Main produtos Motorized Access Equipment

15

Mills Competitive Advantage

Widely recognized technical expertise, agility, innovative solutions and reliability granted Mills longstanding relationships with many of Brazils major companies in the sector

Reliability Agility and Machless Execution

Creative Solutions

National Coverage Complete Product Portfolio

Tailor Made Projects

16

Mills Growth Drivers

Exposure to the following drivers: Brazilian infrastructure investments, including PAC Brazilian real estate investments Brazilian industry investments, including oil & gas Investments to enable world events 2014 World Cup and 2016 Olympic Games

17

Agenda

Who we are Mills Divisions

Growth Plan

18

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 60 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)

20

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 Others 20

Roads 51

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

21

12 cities will host the 2014 World Cup in Brazil, demanding investments in urban mobility, airports and stadiums
Planned investment for World cup In R$ billion
5.8
Stadiums 25.1% Total : R$ 26.1 billion

Urban Mobility 47.6%

3.6
Airports 27.3%

2.7

2.7 2.0 1.6 1.5

1.4

1.4

1.4

1.2
0.8

So Paulo

Rio de Janeiro

Belo Horizonte

Manaus

Braslia

Cuiab

Fortaleza Airports

Recife Stadiums

Natal

Porto Alegre

Salvador

Curitiba

Source: Mills, Ministry of Sports and Veja

Urban mobility

22

Large project pipeline remains robust

Highway Arch - RJ % executed: 25.0% Colder Hydroelectric Powerplant % executed: 34.0%

1.2 1.3 4.0 5.3 6.0 6.8 8.2 13.1 16.0 22.1

In R$ billion

Teles Pires Hydroelectric Powerplant % executed: 10.0%

Transnordestina Railroad % executed: 49.4% West - East Railroad % executed: 3.1% North - South Railroad (South Strech) % executed: 52.0% Transposition of So Francisco River % executed: 32.4% Jirau Hydroelectric Powerplant % executed: 68.0% Santo Antnio Hydroelectric Powerplant % executed: 64.6% COMPERJ Refinery - RJ (Phase 1) % executed: 25.0% Belo Monte Hydroelectric Powerplant % executed: 3.0% Abreu e Lima Refinery - PE % executed: 50.0% Premium I Refinery - MA % executed: 1.2%

25.9 26.5 40.2 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

2005

Source: PAC 2 Report 3 Balano 2011/2014

Scheduled dates for start and end of construction jobs

23

Jahu - Residential and Commercial Division

Via construction project Braslia, DF

24

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

25

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 88% in UK, 81% in USA, 11% in Mexico and 20% in Chile. In 2011, 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: CEF, Brazilian Central Bank , ABECIP Associao Brasileira das Entidades de Crdito Imobilirio e Poupana and PAC2 Report

26

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
Measures to deal with the shortage of skilled labor Company facing lack of skilled labor?
% of total companies that have problems with lack of skilled workers and are taking steps to deal with the problem1

no 11

Develops aggressive policy of hiring professionals from other companies

3 6 7 14 17 29 43

Outsources steps of the administration process

Changes the construction process to an industrial assembly process Establishes partnership with educational institutions Recruits professionals from other regions of the country Performs training outside the company/worksite Outsources stages of the construction process

yes 89

Improves employee retention policy Performs in-house/worksite training 0 10 20 30 40

45
64 50 60 70

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

27

Real estate launches showed growth of 10% in relation to 2010, indicating continuous strong demand in the residential and commercial construction market in 2011

Launches
In R$ billion

Sales
In R$ billion

40 35

10%

35 30

6%

30 25 25 20 20 15 10 5 0 2010 2011 40.6 37.0 15 10 5 0 2010 2011 28 34.1 36.1

Source: reports from 13 public real estate companies and Mills analysis

Industrial Services Division

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

29

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

30

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
25%

Investments in Brazil, as % of GDP

22.4% 21.4% 20.3% 19.4%

20%
17.3%

18.7% 16.8%

18.9%

15% 2007 2008 2009 2010 2011 2012 2013 2014

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

31

Petrobras has announced its 2011-2015 business plan with investments totaling US$ 224.7 billion in this period
Petrobras total investment plan for 2011-2015 period: US$ 224.7 billion

Petrobras pre-salt investment plan for 2011-2015 period: US$ 53.4 billion
US$ 117.7 billion will be invested in E&P in Brazil, with the aim of increasing domestic oil production from 2.1 million bpd in 2010 to 3.1 million bpd in 2015, with 0.5 million bpd related to pre-salt Critical resources needed up till 2013: 26 drilling rigs

53 production platforms
465 special support vessels US$ 70.6 billion will be invested in refining, of which 50% to expand the refining facilities, the major refinery projects being Abreu e Lima (PE), Comperj (RJ) and Premium I (MA)
Source: Petrobras 2010-2014 Business Plan and 2011-2015 Business Plan

32

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

Elected "Best Company for Access of the Year" by the International Awards for Powered Access (IAPA
Awards) for the year of 2011

34

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

35

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

36

Agenda

Who we are Mills Divisions

Growth Plan

37

We invested R$ 430.4 million in organic growth in 2011

Capex
in R$ million

450 400
349

430 18

2012 Capex (%)

350

Rental
163

42%

15

300
131

250 200 150

104

Industrial Services
17

6%

25 127 17 53

185

Jahu - Residential and Commercial

22%

100 50 0
2010 2011 7 28 22 2012 Budget

74 47

Heavy Construction

17%

38

We are present in 13 states of Brazil with 43 branches

Branch locations
As of March 31, 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

39

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

40

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