Votorantim 3Q Financial Results

Votorantim (R$ million) 594 Capex 55% Commitment to disciplined Capex Capex Breakdown 920 3Q14 3Q15 70% 50% 50% 30% 3Q14 3Q15 Expansion Projects Cement 82% 10% 2% 6% Energy Others Zinc & Byproducts Non-expansion Expansion Highlights Approval of Ventos de São Vicente project: a wind power generation, with 7 wind farms in Piauí Cement accounted for 82% of expansion projects: Edealina (Brazil) - R$115 mm Itacamba (Bolivia) - R$94 mm Primavera (Brazil) - R$92 mm 11

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