Presentation of 4Q11 Results

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

4Q11 Results

Growth plan

4Q11 Highlights

250,0

In R$ millions

45% 38,4% 37,6% 39,5% 36,4% 35,4% 175,1 164,0 29,4% 145,0 29,0% 193,5 40% 35% 30% 25% 23,0% 20,3% 18,8% 13,8% 12,7% 58,0 22,6 20% 76,4 15% 14,2% 8,6% 29,5 10% 5% 0%

37,0% 200,0

150,0 115,5 23,1% 100,0

148,9 131,3

154,2

50,0

42,8 18,7

50,5 26,1

55,9 28,5

45,4 30,1

52,8 22,2

50,8

17,8

1Q10

2Q10

3Q10
EBITDA

4Q10

1Q11
Net Income

2Q11

3Q11

4Q11
ROIC

Net Revenue

EBITDA Margin

4Q11/4Q10 4Q11/3Q11

+25.5% +10.5%

+68.3% +50.4%

-2.0% +65.7%

+1,010 bps +1,050 bps

-460 bps +560 bps

ROIC: Return on Invested Capital

Net revenues reached R$ 193.5 million in 4Q11

Per division
Heavy Construction 19% Technical Support Services 20% Jahu Residential and Commercial 27%

Per type of service

Sales 10% Others 2%

Rental 28%

Industrial Services 26%

Rental 68%

Heavy Construction Division

45,0 40,0
In R$ millions

41,7 51,9% 35,7 45,9%

42,7

60%

52,2%
34,2 48,9% 31,8 46,2% 33,2 30,6 36,1

54,0%
50%

35,0

30,0
25,0 20,0 15,0 10,0 5,0 -

38,8%

40%

21,6

22,3 25,5% 13,3 15,6 14,1 14,4% 12,1%

26,0% 19,5

30%

16,4 24,4%

28,5%

20%

18,8%

17,5% 8,6
10%

4,5%
0%

1Q10

2Q10
Net Revenue

3Q10

4Q10
EBITDA

1Q11

2Q11
EBITDA Margin

3Q11
ROIC

4Q11

4Q11/4Q10 4Q11/3Q11

+5.6%

+46.6% +126.7%

+1,520 bps +2,800 bps

-130 bps +1,300 bps

+8.7%

ROIC: Return on Invested Capital

The significant increase in the volume of rented equipment contributed to our utilization rate returning to above normal levels in 4Q11
Variations in rental revenue and utilization rate
8,0 6,0 4,0 2,0 0,6 0,4 6,0 80% 3,2 2,8 3,2 100%

Rental revenue variation (R$ million)

Utilization rate (%)

2,0

60%

1Q10
(2,0)
(4,0) (0,1)

2Q10
(0,6)

3Q10
(2,5)

4Q10
(1,6)

1Q11
(2,4)

2Q11

(1,1)

3Q11

4Q11

40%

(3,6) (4,3)

(3,0)

20%

(6,0)

0%

Volume effect (qoq)

Price effect (qoq)

Utilization rate

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

Newly hired

140 120 100 80 60 40 20 Source: Mills

Contracts with growing equipment volumes

Contracts with high volume of equipment

Contracts in the demobilization process

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

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Time18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 17

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

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

10

Jahu Residential and Commercial Construction Division

In R$ millions

60,0

45,3%

46,0% 42,8% 42,0% 41,6% 38,8% 35,5% 39,4 52,5 45,5%

50% 45% 40% 35% 30% 25%

23,9 15,2%

50,0

40,0 29,2% 30,0 22,7 23,6% 21,8 20,0 10,3 10,0 10,0 11,9 27,9 21,3% 32,8

34,7 29,2 22,3% 16,4 12,5%

20% 15% 10% 5%

13,0% 13,5

16,3%

11,6

12,3

0%

1Q10

2Q10
Net Revenue

3Q10

4Q10
EBITDA

1Q11

2Q11
EBITDA Margin

3Q11
ROIC

4Q11

4Q11/4Q10 4Q11/3Q11

+60.1% +33.2%

+106.0% +45.7%

+1,000 bps +390 bps

-600 bps +380 bps

ROIC: Return on Invested Capital

11

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

Shopping Iguatemi project So Paulo, SP

Saun project Braslia, DF

12

Technological Innovation: consolidation of the Easy Set formwork

Project for Minha Casa, Minha Vida program Queimados, RJ

13

Industrial Services Division

70,0
60,0
In R$ millions

20% 17,3% 14,9% 52,5 46,5 13,4% 10,3% 9,6% 7,2% 5% 3,2% 4,7% 14,9% 56,4 57,5 14,8% 50,2 12,2% 14,2% 14,2%
50,2

17,7% 15,8% 50,0 40,0 40,0 30,0 20,0 10,0

-

56,9 15%

10%

0% 6,3 6,9 7,0 5,8 6,1 8,1 -1,2% 4,1 2,3

-5%

1Q10

2Q10
Net Revenue

3Q10

4Q10
EBITDA

1Q11

2Q11
EBITDA Margin

3Q11
ROIC

4Q11

4Q11/4Q10 4Q11/3Q11

-11.0% -11.8%

-60.3% -43.9%

-560 bps -250 bps

-1,600 bps -440 pbs

ROIC: Return on Invested Capital

14

Technological Innovation: Mills Habitat and Benarx product line

Mills Habitat

Epoxy Box - Benarx

15

Rental Division
In R$ millions

60,0

57,0%

55,8%

56,6%

56,0% 47,6%

60% 54,1% 47,6% 45,6 41,2 54,9 56,0% 50%

50,0

40,0 33,7 30,8 30,0 23,5% 20,0 17,2 9,8 21,3

19,6% 17,3%

40% 30,7 30% 22,3 18,7%

14,7

25,8 21,7 18,6% 12,9% 18,9

17,1%

20%

11,9

14,6

17,3% 10%

10,0

0%

1Q10

2Q10
Net Revenue

3Q10

4Q10
EBITDA

1Q11

2Q11
EBITDA Margin

3Q11
ROIC

4Q11

4Q11/4Q10 4Q11/3Q11

+78.2% +20.4%

+108.8% +41.5%

+840 bps +840 bps

-10 bps +570 bps

ROIC: Return on Invested Capital

16

Recognition: Mills is nominated for global award in the motorized access market

Mills is on the list of 2012 nominees for the following IAPA awards: Best access rental company of the year 2011 we are among the top five in the world Best new IPAF training center of the year 2011 we are among the top four in the world

IAPA International Awards for Powered Access

17

Agenda

3Q11 Results

Growth plan

18

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%

19

Presentation of 4Q11 Results

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