The Brella Full Gás project was

conceived by Eng. Erlon Minella,

attentive to the Brazilian need for an
integrated project for tanking,
refining and distributing fuel,
especially its southern region of
Brazil

The Brella Full Gás project has

grown and developed into a full-
service opportunity, unique in its This presentation aims to describe the idea.

model in Latin America. More accurate operational and financial

information will only be provided after
formalizing the confidentiality agreement.
The Brella Full Gás project is composed of three
business structures:

Orca
Mining
Petro
The creator and leader of the Brella project is Erlon
Minella.

Erlon is a civil engineer and partner at the

construction company Ritzmann Minella, with an
important presence in the southern region of Brazil.

Ritzmann Minella has a diversified portfolio,

ranging from infrastructure works to high-end
commercial buildings. The company stands out for
its innovative vein, pioneering many techniques that
soon became standard in the market.
Oceânica is one of the great Brazilian traders in the
commodities market, and has great expertise in international
logistics operations, and ease in negotiating with large
clients around the world.

It joined the Brella project, adding its logistics expertise and

the physical resources at its disposal, making the Brella Full
Gas project even more complete.

President and partner of Oceânica is mr. Carlos Alberto

Oliveira, with extensive experience in the international
logistics and commodities trading market.
Born 30 years ago and headquartered in Minga Guazú,
Paraguay, Orca Minning Petro is one of the main companies in
Orca
the hydrocarbon market in its country, and has operations in
Brazil, Argentina and Bolivia.
Mining
Specialist in the implementation and operation of refineries,
Petro
separating plants and sale of fossil fuels, Orca Minning Petro
joined the Brella Full Gás project, providing its wide
experience in the implementation and operation of fuel
refineries.

The present of the Orca group is Mr. Orca Saci Ortiz.

Consortium
The consortium between the three
Orca Min-
companies is already formalized. ing Petro
20%

Brella Full Gás will be the

majority partner and leader of this 55%
Brella Full
25% Gás
consortium.
Oceânica

Participation is divided as follows:

The Brella project has its origins as a hydrocarbon 2020 - Orca joins the Project, adding the
tanking and distribution project, taking advantage of the refinement structure and making the
natural opportunity offered by the deep quay of the port project even more complete.
of Itapoá, unique in the southern region of Brazil. 2018 – Oceânica enters the project,
adding logistical expertise and
However, as it took shape and matured, its scope, volume increasing the size of the tanking area.
and complexity also increased, becoming today a unique
2015 – Maersk buys Itapoá, confirming
and innovative project.
the project's vocation as a tank and port
operation.
Its planned headquarters is in the port of São Francisco
2011 – The Retro Porto de Itapoá area
do Sul, in Santa Catarina, a few minutes from the port
was acquired and the original concept of
terminal.
the Brella project was developed.
 Market and Potential
Notwithstanding the undeniable impact of COVID-19 on The forecast of economic growth in emerging countries,
the global fuel market, with the recovery of the economy led by China, a large consumer of agricultural inputs in the
and potential growth after the stabilization of the pandemic country, which will further leverage the production of this
situation in the country and in the world, an increase in sector, and consequently its energy demand, added to the
energy consumption is equally expected. resumption of activities in the aviation sector, which had
big drop in the last year, but prospects for a considerable
Latin America in general already sees the demand for fuels increase.
return to parameters close to pre-pandemics and the
forecast is for normalization in 2021 and an even greater In the civil aviation sector, at the end of 2019, Petrobras
growth in the coming years. Brazil has already reached indicated that there was not enough storage space for the
more than 90% of the pre-pandemic diesel demand, while demand for fuels that were being imported due to the
Argentina exceeds 94%. deficit in domestic production.
Given the growth estimates, what worries is the need for infrastructure to meet the demand. It is estimated that the

sector will demand new investments in fuel infrastructure between R$ 80 billion and R$ 100 billion over the next

ten years.

The terminals are an essential infrastructure for the import of fuels, being necessary for storage and also for the

blending of biofuels with oil derivatives, they are crucial for transport logistics as they are positioned close to

demand.

In Brazil, there is currently a shortage of terminals, causing logistical

inefficiency whose cost is estimated at R$ 2.6 billion per year.

 The Brella Full Gás Project is a multimodal project,
which unifies 5 aspects:

The  Port Terminal

 Ship Supplying – Bunker

Project  Fuel Tanking

 Distribution

 Refinery
Port Terminal
The "heart" of the project, the Port Terminal will The Port terminal will use linear surface water
be located in a region of deep draft, capable of pipelines ("dolphins") and offshore structures,
supporting Post Super Panamax and VLCC gas allowing to explore the deep draft of the region.
tankers, a characteristic that only the Brazilian port
of PECEN. The project foresees the use of all necessary
suction and condensation mechanisms to operate
It is an open region, with calm waters, close to the both with VLCC and with gas tankers for refined
container port of Itapoá. fuels. In its first phase, the terminal will be able to
service 3 ships simultaneously.
Ship Supplying
Using the structure of the Port Terminal, Brella also aims to offer the ship supply service, serving as an alternative
supply to the ports in the southern region, especially for large ships, which currently have to travel to Rio de Janeiro
to refuel.

The fuel will be refined by Brella itself.

Bunker (Maritime Fuel, D2 and D6 oil) will be stored at the Oceânica

Industrial Condominium.
Docking Dolphins with SbM –
Illustrative Image
 Fuel Tanking
The second feature of the project is
the construction of its own tank
farm, located 6 km from the port,
with the objective of filling the
need for similar structures in Brazil.

The project will feature terminal

silos with a capacity of 2.200 m³, in
addition to the more than 5.000 m³
located in the silo farm, in the
retroport area.
 Distribution
The project also considers the
acquisition of an already active
fuel distributor, which will allow
the Brella project to carry out the
direct sale of locally refined or
imported fuel directly to gas
stations and other large
intermediate and final consumers.
 Refinery
Attached to the tanking area, the Brella Full Gás The expected processing capacity for the
will also feature the construction of a refinery, to refinery will be 20,000 barrels of crude oil per
be built by Orca Mining Petro. day, producing 1,000,000 liters of Diesel and
850,000 liters of Gasoline and Diesel per day,
in addition to other petroleum products, such
The refinery will carry out both the blending of
as plastic resins and solvents.
fuels for the domestic market and the refining of
crude oil into fuel and other derivatives, which
The production could be increased to 100,000
will be sold on the domestic market.
barrels per day, if the local and international
market support the demand.
The project comprises 3 large areas. First Area
The first area is in the Port of São
Francisco do Sul. A natural port with
calm waters and a well-developed
port structure, the Port of São
Francisco do Sul has a draft of 13m,
suitable for class M ships and fast
operations.

The project has an area with a

privileged location, where the port
silos and initial storage area will be
positioned.
Second Area
The second is a backport area,
located a few minutes from the port
of São Francisco do Sul.

In this area, of approximately

30,000 m², crude oil and fuel
storage silos will be installed. The
fuel refinery will also be built here.

The location has easy access to

major federal and state highways,
and will feature a rail terminal.
The third area is located 5 km north Third Area
of the first site, in Babitonga Bay.

The area will be equipped with

terminal silos and dolphins (SbM)
capable of operating large port
ships, taking advantage of its
particularly deep draft.

It is a geographically privileged
area, with a deep draft, capable of
supporting VLCC and Post-Super
Panamax vessels.
 There are 11 km between the three
areas.

The transport of oil and fuel between

the areas will be carried out through
private pipelines, already considered
within the project.

The integration between the areas will

be total.
Operational Characteristics

The implementation of the Brella project operations will be divided into phases. At each stage, the expansion of
storage and refining capacity will be expanded, as well as the diversification of activities carried out. The length
and composition steps will depend on the investment strategy.

The physical financial schedule allows the construction and operation of

the project in its full capacity within a period of 30 months, depending on
the financial availability and need of the investor.
Risk Management

Legal Risks Environmental Risks

 The Brella Full Gas Project has a public record.  Brella Full Gás already has a large part of the

 The internal structure of the consortium of Brella environmental certificates necessary for its

Full Gás has already been defined and formalized implementation and operation.

between the parties.  Brella Full Gás already has a pre-contract signed

 Brella Full Gás already owns all areas to be used. with specialists for the construction of

 Brella Full Gás already has permission from the environmental safety systems.

National Petroleum Agency for operations of this  Pre-contract signed with an insurance

type and model. company specializing in environmental risks.

Operational Risks Financial Risks
 Pre-contract signed with an international fuel  Pre-contract signed with an insurance
distributor. company specializing in construction and
 Technology and in-house technical expertise to carry engineering risks.
out the entire project operation, through the expertise  Positive financial situation for each company
of Orca Petro. involved in the process.
 Pre-contract with construction companies specializing  Availability of real guarantees for the project.
in industrial works of this type and specializing in
pipelines.
 Pre-contract with insurance company to cover
construction risk management.

$
Financial Characteristics
The investment planned for the Brella Full Gás project
Investment Indicators
will be:

 Cash NPV (10 years) - between BRL 70 Total

to BRL 215 million USD$ 1.8 Billion
 EBITDA - > 65%Payback - 3 to 4.5
The project is expected to start operations with an
years
investment of R$ 200 million.
 ROIC - 22 to 35%

The other expansion phases of the project will be

*The profitability and return indicators may be positively
changed according to the investment strategy subject to an investment strategy.
Investment Objectives
Investment values will be used for:
 Total acquisition of project areas.
 Insurance Contracting.
 Construction of port structures (platforms, pipelines, dolphins, SbM, terminal silos, etc.).
 Construction of retroport structures (silo farm, Harlon spheres, etc.).
 Construction of pipelines for transporting fuel and crude oil.
 Construction of the Hydrocarbon Plant.
 Acquisition of a fuel distributor.
 Administrative and Commercial Structure (headquarters, computerized systems, people,
commercial).
[email protected]