1

4T08 / 2008

NOVEMBER 2009

3Q09 EARNINGS RELEASE

2

4T08 / 2008AGENDAAGENDA

1. Highlights

2. Industry Performance

3. Financial and Operating Performance

4. Additional Information

3

4T08 / 2008AGENDAAGENDA

1. Highlights

2. Industry Performance

3. Financial and Operating Performance

4. Additional Information

4

4T08 / 2008HIGHLIGHTSHIGHLIGHTS

� Consolidated net operating revenue of R$ 309.2 million in the 3Q09, a reduction of 40.9% over the same period of last year

� EBITDA(*) of R$ 33,3 million in the 3Q09, a reduction of 63.4% when compared to the same period of last year

� Net income of R$ 11.6 million in the 3Q09, a reduction of 91.2% when compared to the same period of last year

� Net bank debt of R$ 513.7 million (R$ 230.6 million in Sep 08), or 4.1x LTM EBITDA(*) (0.9x Sep 08)

� Fumagalli Division results considered as of September 21, 2009

(*) EBITDA, throughout this presentation means: net income plus income tax and social contribution, plus non-operating result, plus net financial expenses, plus depreciation and amortization, plus goodwill amortization.

5

4T08 / 2008MAIN DRIVERSMAIN DRIVERS

� Reduction of Brazilian production of trucks, buses and agricultural machinery

� Reduction of domestic demand for railway freight cars

� Reduction of exports

6

4T08 / 2008AGENDAAGENDA

1. Highlights

2. Industry Performance

3. Financial and Operating Performance

4. Additional Information

7

4T08 / 2008BRAZILIAN VEHICLE PRODUCTION / EXPORTBRAZILIAN VEHICLE PRODUCTION / EXPORT

� Source: Anfavea

Production

Segment 3Q09 3Q08 Var. 9M09 9M08 Var.Passenger Cars 698,955 736,592 -5.1% 1,898,486 2,096,618 -9.5%

Light Commercials 113,230 133,004 -14.9% 314,765 363,621 -13.4%

Trucks 30,697 48,961 -37.3% 84,383 128,216 -34.2%

Buses 9,388 12,551 -25.2% 26,014 35,902 -27.5%

Total Vehicles 852,270 931,108 -8.5% 2,323,648 2,624,357 -11.5%Agricultural Machinery 17,378 23,510 -26.1% 45,797 63,401 -27.8%

Export

Segment 3Q09 3Q08 Var. 9M09 9M08 Var.Passenger Cars 100,751 140,959 -28.5% 258,962 432,780 -40.2%

Light Commercials 19,673 34,209 -42.5% 51,551 97,502 -47.1%

Trucks 3,509 11,402 -69.2% 9,656 30,053 -67.9%

Buses 2,209 4,042 -45.3% 6,689 11,499 -41.8%

Total Vehicles 126,142 190,612 -33.8% 326,858 571,834 -42.8%Agricultural Machinery 3,016 8,060 -62.6% 10,295 22,818 -54.9%

8

4T08 / 2008BRAZILIAN RAILWAY EQUIPMENT MARKETBRAZILIAN RAILWAY EQUIPMENT MARKET

� Source: Amsted-Maxion estimation

� * Replacement market only, excluding wheels and castings used in assembling new

railway freight cars.

Sales

Segment 3Q09 3Q08 Var. 9M09 9M08 Var.Railway Freight Cars (units) 171 1,184 -85.6% 776 3,746 -79.3%

Railway Wheels (units)* 8,100 16,208 -50.0% 28,992 39,984 -27.5%

Castings (tonnes)* 500 1,006 -50.3% 1,234 3,400 -63.7%

9

4T08 / 2008AGENDAAGENDA

1. Highlights

2. Industry Performance

3. Financial and Operating Performance

4. Additional Information

10

4T08 / 2008NET OPERATING REVENUE – R$ millionNET OPERATING REVENUE – R$ million

879

1,366

523

1,828

309

1,2891,248

2006 2007 2008 9M08 9M09 3Q08 3Q09

Net Operating Revenue

� ∆ 3Q09 – 08 = -40.9%

� ∆ 9M09 – 08 = -35.6%

� CAGR 2006 – 08 = 21.0%

11

4T08 / 2008

4038

173

60

151

130

35

2

151

205

Chassis Maxion Wheels Wheels (China) FumagalliWheels

AutomotiveComp.

Amsted-Maxion

3Q09

3Q08

3Q09

3Q08

3Q09 3Q08

3Q09

-26.1%

7.6%

65.2%

3Q08

3Q08

3Q09 3Q09

-60.1%

-69.7%

Net Operating Revenue – R$ 309.2 (3Q09) and

R$ 879.2 (9M09)

� Chassis: ∆ 9M09 – 08 = -15.1%

� Maxion Wheels: ∆ 9M09 – 08 = -51.7%

� Wheels (China): ∆ 9M09 – 08 = 473.8%

� Automotive Comp. : ∆ 9M09 – 08 = -4.0%

� Amsted-Maxion: ∆ 9M09 – 08 = -63.9%

NET OPERATING REVENUE – R$ millionNET OPERATING REVENUE – R$ million

12

4T08 / 2008REVENUE BY CUSTOMERREVENUE BY CUSTOMER

3Q09

Daimler13%

Export13%

Fiat9%

Ford5%

MAN (VW) Trucks

22%

MRS1%

After Market2%

Scania3%

Others9%

Caterpillar1%

ALL3%

GMB9%

Tractors5%

Vale5%

3Q08

Vale9%

Tractors8%

GMB5%

ALL1%

Caterpillar1%

Others13%

Scania5%

After Market2%

MRS6%

MAN (VW) Trucks

16% Ford5%

Fiat4%

Export13%

Daimler12%

13

4T08 / 2008EXPORTS / INTERNATIONAL SALES – R$ millionEXPORTS / INTERNATIONAL SALES – R$ million

7

0

8

36

17

29

12

21

14

Chassis Maxion Wheels Wheels (China) FumagalliWheels

AutomotiveComp.

Amsted-Maxion

3Q09

3Q08

3Q09

3Q08

3Q093Q08

3Q09

14.9%

-35.2%

65.2%

3Q08

3Q08

3Q09

3Q09

-71.5%

-75.0%

Exports – R$ 41.0 (3Q09) and R$ 121.6 (9M09)

US$ 22.4 (3Q09) and US$ 59.3 (9M09)

� R$ - ∆3Q09 – 08 = -39.2%

� R$ - ∆9M09 – 08 = -29.7%

� US$ - ∆3Q09 – 08 = -42.8%

� US$ - ∆9M09 – 08 = -41.7%

Africa / Midle East

2%

Mexico6%

Europe4%

Latin America

13%

Asia / Oceania

8%

Canada8%

EUA58%

Export by Region – 3Q09

14

4T08 / 2008MARKET SHARE - BRAZILMARKET SHARE - BRAZIL

Source: Iochpe-Maxion Estimate

69% 65%

35%31%

9M09 9M08

OthersMaxion

ChassisChassis

57% 63%

37%43%

9M09 9M08

OthersMaxion

Maxion Maxion WheelsWheels

51% 51%

49%49%

9M09 9M08

OthersFumagalli

Railway Railway CastingsCastings

80% 80%

20%20%

9M09 9M08

OthersMaxion

66%

97%

3%

34%

9M09 9M08

OthersMaxion

Railway Railway FreightFreight CarsCars

FumagalliFumagalli WheelsWheels

15

4T08 / 2008GROSS PROFIT – R$ millionGROSS PROFIT – R$ million

128

284

114

357

53

236219

15%

21%18% 18% 20%

22%

17%

2006 2007 2008 9M08 9M09 3Q08 3Q09

Gross Profit % NOR

Gross Profit

� ∆ 3Q09 – 08 = -53.3%

� ∆ 9M09 – 08 = -54.9%

� CAGR 2006 – 08 = 27.7%

16

4T08 / 2008EARNINGS BEFORE INCOME TAX – R$ millionEARNINGS BEFORE INCOME TAX – R$ million

126136

23

232

82

197

47

7%

16%13%

10%11%14%

5%

2006 2007 2008 9M08* 9M09 3Q08* 3Q09

EBIT % NOR

EBIT

� ∆ 3Q09 – 08 = -72.4%

� ∆ 9M09 – 08 = -76.2%

� CAGR 2006 – 08 = 30.6%

(*) In compliance with Instruction 539/08 of CVM (Brazil’s securities commission) of March 14, 2008 and guidance of the Accounting Pronouncement Committee, Iochpe-Maxion incorporated the amounts accounted as non-operating expenses in 2008 into operating expenses, therefore reducing EBIT presented in the 3Q08 presentation

17

4T08 / 2008EBITDA – R$ millionEBITDA – R$ million

163

33

78

222

91

268

156

9%

16%

13% 12%15%

17%

11%

2006 2007 2008 9M08** 9M09 3Q08** 3Q09

EBITDA % NOR

EBITDA

� ∆ 3Q09 – 08 = -63.4%

� ∆ 9M09 – 08 = -64.7%

� CAGR 2006 – 08 = 28.2%

(*) EBITDA, throughout this presentation means: net income plus income tax and social contribution, plus non-operating result, plus net financial expenses, plus depreciation and amortization, plus goodwill amortization

(**) In compliance with Instruction 539/08 of CVM (Brazil’s securities commission) of March 14, 2008 and guidance of the Accounting Pronouncement Committee, Iochpe-Maxion incorporated the amounts accounted as non-operating expenses in 2008 into operating expenses, therefore reducing EBIT presented in the 3Q08 presentation

18

4T08 / 2008NET FINANCIAL EXPENSES – R$ millionNET FINANCIAL EXPENSES – R$ million

-4

21

10

28

13

5 6 -1%2%

2%

1%

2%

0%

1%

2006 2007 2008 9M08 9M09 3Q08 3Q09

Financial Exp. % NOR

Net Financial Expenses

� ∆ 3Q09 – 08 = -128.7%

� ∆ 9M09 – 08 = 26.9%

� CAGR 2006 – 08 = 15.5%

19

4T08 / 2008FX RATE VARIATIONFX RATE VARIATION

� No additional NDF operations were contracted in this period, due to the already mentioned reduction of

exports

� At the end of the 3Q09, Iochpe-Maxion didn’t have any NDF operations contracted

� Impact of the FX rate variation on Financial (Expense) Revenue

Value US$ million

FX Rate Var. R$ million

NDF Expired 16.9 1.7

Financial Rev./(Exp.) 1.7

3Q09

20

4T08 / 2008NET INCOME – R$ millionNET INCOME – R$ million

209

13

131

12

5872

214

2%

4%

25%

5% 6%

12% 15%

2006 2007 2008 9M08 9M09 3Q08 3Q09

Net Income % NOR

76

76

133

Net Income

� ∆ 3Q09 – 08 = -91.2%

� ∆ 9M09 – 08 = -93.8%

� CAGR 2006 – 08 = 92.1%

76

76

Non-recurring gain generated by

the grouping of Maxion Sistemas

Automotivos into Iochpe-Maxion

Non-recurring gain generated by

the grouping of Maxion Sistemas

Automotivos into Iochpe-Maxion

21

4T08 / 2008NET BANK DEBT – R$ millionNET BANK DEBT – R$ million

132 128

256

207231

514

0.80.8

4.1

0.91.11.0

2006 2007 2008 2Q09 3Q08 3Q09

Net Debt x EBITDA*

� To better understand the evolution of net bank debt, it’s worth to mention :

� R$ 79.2 million dividend payment during the 2Q09

� R$ 331.1 million payment during the 3Q09 for the conclusion of acquisition of Fumagalli Division

(*) EBITDA, throughout this presentation means: net income plus income tax and social contribution, plus non-operating result, plus net financial expenses, plus depreciation and amortization, plus goodwill amortization

LTM EBITDA

22

4T08 / 2008INDEBTEDNESS SEP 09 – R$ millionINDEBTEDNESS SEP 09 – R$ million

Dollar11%

YUAN3%

Fixed Inter. Rate (4.5%)

33%

TJLP12%

CDI (Intebank Rate) + 2%

41%

- -

459

283337

514

796

Short Term Long Term Total Debt Cash Net Debt

Others7%

Import3%

BNDES-EXIM12%

BNDES - PSI33%

Promissory Note40%

ACC5%

Debt by LinesDebt Indexation

23

4T08 / 2008CAPEX – R$ millionCAPEX – R$ million

68

113

84

20

12

68

2005 2006 2007 2008 3Q08 3Q09

24

4T08 / 2008AGENDAAGENDA

1. Highlights

2. Industry Performance

3. Financial and Operating Performance

4. Additional Information

25

4T08 / 2008SHARES PERFORMANCE (LTM) – MYPK3SHARES PERFORMANCE (LTM) – MYPK3

26.40%

-20,84%

-60.00%

-50.00%

-40.00%

-30.00%

-20.00%

-10.00%

0.00%

10.00%

20.00%

30.00%

Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09

MYPK3 IBOVESPA

26

4T08 / 2008AVERAGE DAILY TRADE VOLUME – R$ millionAVERAGE DAILY TRADE VOLUME – R$ million

1,4191,543

685 734

2,8852,047

1,632

1,761

2,142

1,692

1,111

2,168

185

9797

124

10591

146

221

106

132 129

190

Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09

Volume Trades

27

4T08 / 2008INCOME STATEMENT – R$ millionINCOME STATEMENT – R$ million

(*) EBITDA, throughout this presentation means: net income plus income tax and social contribution, plus non-operating result, plus net financial expenses, plus depreciation and amortization, plus goodwill amortization

(**) In compliance with Instruction 539/08 of CVM (Brazil’s securities commission) of March 14, 2008 and guidance of the Accounting Pronouncement Committee, Iochpe-Maxion incorporated the amounts accounted as non-operating expenses in 2008 into operating expenses, therefore reducing EBIT presented in the 3Q08 presentation

Note: Fumagalli Division results considered as of September 21, 2009

Income Statement - R$ thousand 3Q09 3Q08** Var. 9M09 9M08** Var.

Net Operating Revenue 309,235 522,983 -40.9% 879,190 1,365,713 -35.6%

Cost of Goods SoldRaw Material (156,917) (282,715) -44.5% (444,718) (724,853) -38.6%

Labor (60,459) (83,341) -27.5% (188,656) (211,538) -10.8%

Others (38,614) (43,032) -10.3% (117,924) (145,921) -19.2%

(255,990) (409,089) -37.4% (751,298) (1,082,313) -30.6%

Gross Profit 53,245 113,894 -53.3% 127,892 283,400 -54.9%

17.2% 21.8% 14.5% 20.8%Operating Expenses

General and Administrative (12,372) (14,178) -12.7% (37,375) (38,080) -1.9%

Commercial (10,596) (19,666) -46.1% (36,434) (50,077) -27.2%

Others (7,562) 2,182 -446.6% (7,318) 1,529 -578.5%

(30,530) (31,662) -3.6% (81,127) (86,628) -6.4%

Operating Income (EBIT) 22,715 82,231 -72.4% 46,765 196,772 -76.2%

7.3% 15.7% 5.3% 14.4%Financial Results

Financial Revenue 15,220 (25) 46,560 26,487 75.8%

Financial Expenses (11,563) (12,724) -9.1% (52,883) (31,470) 68.0%

3,657 (12,749) -128.7% (6,323) (4,983) 26.9%

Earnings After Financial Income 26,372 69,482 -62.0% 40,442 191,790 -78.9%

8.5% 13.3% 4.6% 14.0%Income Taxes (14,786) 61,501 -124.0% (27,406) 17,416 -257.4%

Net Income 11,586 130,983 -91.2% 13,036 209,206 -93.8%

3.7% 25.0% 1.5% 15.3%EBITDA* 33,315 90,954 -63.4% 78,328 221,703 -64.7%

10.8% 17.4% 8.9% 16.2%

28

4T08 / 2008BALANCE SHEET – R$ millionBALANCE SHEET – R$ million

Note: The Balance Sheet at the end of September 09 already consolidates the Fumagalli Division accounts

ASSETS LIABILITIESSep-09 Jun-09 Sep-09 Jun-09

CURRENT CURRENTCash and Cash Equivalents 282,485 38,351 Loans 458,914 161,591 Receivables 218,628 156,202 Payables 90,427 59,746 Inventory 204,626 179,620 Taxes 29,204 7,004 Recoverable Taxes 17,596 9,317 Wage & Salaries 48,731 33,591 Deferred Taxes 15,328 17,900 Customers Advance 9,754 10,852 Antecipated Expenses 7,517 1,718 Dividends - - Other Receivables 13,894 8,272 Other Payables 23,209 21,417

Payable Financial Instruments - 599 760,074 411,380 660,239 294,800

LONG TERM LONG TERMReceivable 588 583 Loans 337,295 83,626 Recoverable Taxes 29,121 16,772 Provisions 59,943 60,059 Deferred Taxes 89,579 82,646 Others 13,619 9,291 Obligatory deposits and judicial 12,890 12,890 410,857 152,976 Other Receivables 3,024 1,852

135,202 114,743

EQUITYInvestments 323 310 Capital 261,463 261,463 Plants, Property and Equipment 589,844 368,203 Profit Reserves 183,958 183,958 Intangible 43,386 4,826 Equity Adjustment 2,724 8,843 Deferred Items 3,448 4,028 Accumulated Profit 13,036 1,450

637,001 377,367 461,181 455,714

TOTAL ASSETS 1,532,277 903,490 TOTAL LIABILITIES 1,532,277 903,490