Usiminas Results 1Q13

Usiminas Results 1Q13 Apresentação Usiminas 2T11 - APIMEC Information Classification: Public

2 Agenda Clique para Profile editar o and texto Markets mestre Usiminas and its Business Units Operational Improvement and Financial Results

Time Line and Shareholder Composition 2012 1956 Foundation of Usiminas 1962- Operation Start Up 1991 Privatization Usiminas:1991 Cosipa: 1993 2005 Listing on Latibex 2008 Aquisition of J. Mendes iron ore mines Aquisition of Zamprogna 2009 Foundation of Soluções Usiminas due to the consolidation of the companies Rio Negro, Dufer, Fasal and Zamprogna, Usial and Usicort Single CNPJ: Cosipa is incorporated by Usiminas 2010 Creation of Mineração Usiminas Partnership with Codeme and Metform 2011 Entrance of Ternium/ Tenaris Selling of Ternium into Usiminas shares Control Group Joint Mining and Cooperation Agreements with MBL and Ferrous Commercial Agreements with MMX to explore Pau de Vinho and to use the Southest Port Negociation with J. Mendes concluded New shareholders agreement signed among Nippon Group, Ternium / Tenaris and Usiminas Pension Fund until 2031 Acquisition of the former Litigation Area 3

4 Strategically Located Mining Steel Steel processing Capital Goods

UPSTREAM DOWNSTREAM 5 Complete Solution of Products and Services Steel Processing Capital Goods Steel Mining Soluções Usiminas Usiminas Mecânica Automotiva Usiminas Ipatinga Metform and Codeme stake Cubatão Mineração Usiminas Unigal Usiminas

World Crude Steel Production in 2012 Million tons China 708.8 Japan 107.2 USA 88.6 India 76.7 Russia 70.6 South Korea 69.3 Germany Turkey Brazil Ukraine 42.7 35.9 34.7 32.9 Capacity 2,090 Excess of Capacity 542 Production 1,548 Excess of Production 139 Consumption 1,409 Source: World Steel Association 6

Flat Steel Brazilian Market Million tons Production Apparent Consumption 3.8 3.9 3.9 3.9 3.6 3.5 3.5 3.6 3.4 3.4 1Q12 2Q12 3Q12 4Q12 1Q13 Inventories in the Distribution Network 1Q12 2Q12 3Q12 4Q12 1Q13 Imports (thousand tons) Million Tons Monthly basis 2.8 2.8 2.7 2.6 2.8 519.0 413.0 512.0 335.0 319.0 1.0 1.0 1.0 0.9 1.0 1Q12 2Q12 3Q12 4Q12 1Q13 1Q12 2Q12 3Q12 4Q12 1Q13 Source: IABR / INDA / Usiminas 7

8 Agenda Profile and Markets Usiminas and its Business Units Operational Improvement and Financial Results

9 Steel Business Unit Flat steel production Installed Nominal Capacity : 9.5 million tons / year Galvanized Slab Caster Slabs Heavy Plates Hot Coils Cold Coils EG HDG Ipatinga Plant 5,000,000tons 1,000,000tons 3,600,000tons 2,500,000tons 360,000tons 1,050,000tons Cubatão Plant 4,500,000tons 1,000,000tons 4,400,000tons 1,200,000tons - - Nominal Capacity 9,500,000tons 2,000,000tons 8,000,000tons 3,700,000tons 360,000tons 1,050,000tons Optimized Rolling Capacity - 1,900,000tons 3,200,000tons 1,950,000tons 350,000tons 1,020,000tons

10 Steel Business Unit Everyday steel application Auto Industries Autoparts Agricultural Machines Household Appliances Cold Rolled and Galvanized (EG and HDG) Hot Rolled Heavy Plates and Hot Rolled Cold Rolled and Galvanized (EG and HDG) Civil Construction Ship-Building Pipelines Pressure Vessels Heavy Plates, Hot and Cold Rolled and Galvanized (EG and HDG) Heavy Plates Heavy Plates and Hot Rolled Heavy Plates

11 Steel Business Unit Crude steel production Thousand tons 1,783 1,858 1,549 1,509 1,672 1,845 1,837 1,804 1,662 Ipatinga Cubatão 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13

12 Steel Business Unit Sales Thousand tons Domestic Market Exports 1,888 1,749 1,731 1,512 266 561 487 522 1,591 365 Sales Breakdown by Segments 1Q13 34% Auto Industry 1,246 1,327 1,262 1,209 1,226 17% Industry Household Appliances 1Q12 2Q12 3Q12 4Q12 1Q13 31% 10% 7% Civil Construction Distribution

13 Steel Business Unit Concluded investments Hot Strip Mill II - Cubatão Higher product performance and efficiency Exclusive coils dimensions in Brazil Higher productivity for customers High level of automation Lower electric energy consumption High-strength steels Galvanizing Line II - Ipatinga Higher production capacity Products portfolio increase Deep drawing steel Products Inovation High-strength steels Excellent flatness Main Applications Production capacity of 2.3 million tons per year Production capacity of 550 thousand tons per year

Mining - Mineração Usiminas Located in Serra Azul/MG 4 mining sites, acquired from J. Mendes Group in February 2008 Reserves of 2.6 billion tons of iron ore Life time until 2045 MRS: 20% of voting shares, being part of the Control Group Retroarea in Itaguaí Port Igarapé São Joaquim De Bicas 70.0% MUSA Central Minerita MUSA Leste MMX MUSA Pau de Vinho 30.0% MUSA Oeste Arcelor Mittal Ferrous (Santanense) Com isa Emicon Ferrous MBL Itatiaiuçu Mineração Usiminas 14

15 Mining - Mineração Usiminas Million tons Production: 1,854 1,517 1,785 1,496 1,649 1Q12 2Q12 3Q12 4Q12 1Q13 Sales: 1,730 1,497 1,142 1,747 1,346 1Q12 2Q12 3Q12 4Q12 1Q13

16 Mining - Mineração Usiminas Investment Plan Iron Ore Production Capacity million tons by the end of the year Friable Project: ongoing Estimated Capex of R$800 million Compact Project: under detailing phase

17 Retroarea in Itaguaí Port

Steel Processing Soluções Usiminas and Automotiva Usiminas Soluções Usiminas 11 industrial units in MG, SP, RS, ES, BA and PE Processing capacity of 2 million tons/year Net Revenue of R$458.6 million in the 1Q13 Camaçari Recife Automotiva Usiminas Located in Pouso Alegre/MG, close to major auto makers Offers wide solutions to the Automobile Industry Net Revenue of R$77.9 million in the 1Q13 Santa Luzia Campo Limpo Paulista Betim Taubaté Guarulhos São Paulo Cachoeirinha Porto Alegre Serra Automotiva Soluções Usiminas 18

Capital Goods Usiminas Mecânica Located in Ipatinga/MG, it is one of the largest capital goods companies in Brazil Brasília 3rd Bridge Market Segments: Steel Structures, Shipbuilding and Offshore, Oil and Gas, Industrial Equipment, Industrial Assembly, Foundry and Railcars Net Revenue of R$259.3 million in the 1Q13 Platform Ship Panel 19

20 Agenda Profile and Markets Usiminas and its Business Units Operational Improvement and Financial Results

21 Increasing Coke Production Coke Plant #3 (Ipatinga) Thousand tons Average 2011: 61.6 +8.4% Average 2012/2013: 66.8 55.3 54.6 60.3 58.8 61.9 64.1 67.3 67.5 63.7 63.5 59.0 63.1 66.2 62.2 65.3 65.8 68.5 67.0 68.8 68.0 66.5 69.2 66.1 68.1 69.0 69.8 61.5

Lower Cost of Iron Ore Blend Blast Furnaces (Cubatão) Thousand tons Pellet Metallic burden optimization in Blast Furnaces in Cubatão 103 120 148 86 78 0 0 0 0 Apr/12 May/12 Jun/12 Jul/12 Aug/12 Sep/12 Oct/12 Nov/12 Dec/12 Lump 146 137 93 132 162 186 224 203 183 Apr/12 May/12 Jun/12 Jul/12 Aug/12 Sep/12 Oct/12 Nov/12 Dec/12 22

23 Cost Reduction with Natural Gas Usage US$/ ton 9.0 10.9 4.9 4.6 1.8 2.1 3.6 2.3 2.5 2.3 3.2 0.2-0.3

24 Improving Continuous Casting Productivity (CC) Increasing slabs production Thousand tons Slab Production +7.9% 601 557 8 CCs 6 CCs First 1Q2012 Quarter 2012 Last two 4Q2012 months 2012

25 Adjusted EBITDA - Consolidated R$ million 11% 12% 12% 10% 337 365 343 8% 7% 7% 7% 313 218 190 232 4% 226 150 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Adjusted EBITDA Adjusted EBITDA Margin

Working Capital R$ billion (Consolidated) / Thousand tons (Steel Business) 5.4 5.3 5.2 5.0 4.7 4.3 R$ 2.2 billion Reduction 3.8 3.3 2.6 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1,513 1,491 Reduction of 482 mil thousand tons in inventories 1,281 1,126 1,031 90 80 62 55 51 4Q11 1Q12 2Q12 3Q12 4Q12 Inventories Inventories in days 26

27 Capex Performance Consolidated R$ million 3,192 81 41-22% 2,490 276-34% 3,070 365 1,849 1,652 112 555 985 2010 2011 2012 Steel Mining Others

28 Debt Profile and Cash Position - Consolidated R$ million 4,239 1,657 1,432 1,334 1,306 1,304 2,582 1,256 376 240 350 695 673 1,008 520 3 958 906 1,066 250 26 737 670 1 270 296 25 Cash 2013 2014 2015 2016 2017 2018 2019 2020 on Local Currency Foreign Currency

Quarterly Results Accounted Per Business Unit Income Statement per Business Units - 1Q13 R$ million Mining Steel Steel Processing Capital Goods Adjustment Consolidated 1Q13 4Q12 1Q13 4Q12 1Q13 4Q12 1Q13 4Q12 1Q13 4Q12 1Q13 4Q12 Net Revenue 248 292 2,666 2,827 546 508 259 257 (524) (677) 3,195 3,207 Domestic Market 207 213 2,223 2,188 538 502 259 257 (524) (676) 2,703 2,484 Exports 41 79 443 639 8 6 0 0 (1) (0) 491 724 COGS (86) (108) (2,590) (2,908) (495) (464) (249) (237) 432 629 (2,988) (3,088) Gross Profit 162 184 76 (81) 51 44 10 20 (92) (48) 207 119 Operating Income (Expenses) (29) (20) (134) (140) (48) (30) (14) (18) 1 2 (224) (206) EBIT 133 164 (58) (221) 3 14 (4) 2 (90) (46) (16) (87) Adjusted EBITDA 144 173 178 20 16 28 2 8 (27) (3) 313 226 Adj.EBITDA Margin 58% 59% 7% 1% 3% 6% 1% 3% - - 10% 7% Note: All transactions among the business units are made at market price. 29

Final Message Fase I Control Costs CAPEX Working Capital Continuous Process Fase II Improvement Productivity Increase Industrial Engineering Benchmarking Operational Efficiency Domestic Sales Increase Leverage Reduction Company s Profitability Recovery

ADR Level I Cristina Morgan C. Drumond Head of IR cristina.drumond@usiminas.com Phone: 55-31-3499.8772 Fax: 55-31-3499.9357 Leonardo Karam Rosa leonardo.rosa@usiminas.com Phone: 55-31-3499.8550 Diogo Dias Gonçalves diogo.goncalves@usiminas.com Phone: 55-31-3499.8710 Luciana Valadares dos Santos luciana.santos@usiminas.com Phone: 55-31-3499.8619 www.usiminas.com/ri Declarations relative to business perspectives of the Company, operating and financial results and projections, and references to the growth of the Company, constitute mere forecasts and were based on Management s expectations in relation to future performance. These expectations are highly dependent on market behavior, on Brazil s economic situation, on the industry and on international markets, and are therefore subject to change.