Investor Presentaiton

THE SECOND WAVE: RISING INCOMES AND GROWING CONSUMER DEMAND However, the bulk of this income growth was fueled by exporting iron ore, soya, and other resources and crops to Asia, Europe, and elsewhere. Exports from Minas Gerais peaked in 2010 and 2011, and recently declining demand highlights the urgent need to reinvest local revenues and move beyond exporting commodities to exporting innovative and sustainable advanced technology products, both to other states in Brazil, and to many developed and developing countries. FIEMG

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