Aqualis Offshore Holding ASA (to be renamed Aqualis ASA) Company - PowerPoint PPT Presentation

Aqualis Offshore Holding ASA (to be renamed Aqualis ASA) Company presentation 13 August 2013

Agenda 1. Introduction 2. Our business a) Aqualis Offshore Ltd b) Tristein AS c) Offshore Wind Consultants Ltd d) Combined group 3. Financials Appendix 2

Company development last nine years Aug 2014  2006 - 2013 Nov 2013 – Jul 2014 Acquisitions: Nov 2013 Jun 2014 Aug 2014 Apr 2014 Listed on Oslo Stock Exchange ASA ASA Spin-off: Listed on Oslo Stock Exchange Aqualis Offshore Holding ASA ASA 3

Aqualis Offshore Holding ASA – Marine & engineering consultancy services Aqualis Offshore Holding ASA (to be renamed Aqualis ASA) Aqualis Offshore Ltd Tristein AS Offshore Wind Consultants Ltd  Established in 2012 by Ferncliff and  Established in 2007  Established in 2011 Strata M&O  Acquired by Aqualis ASA in April 2014  Acquired by Aqualis ASA in June 2014  Specialised offshore, marine and  Innovative wide range provider of  A globally focused specialised engineering consultancy firm, focusing offshore marine operational services consultancy providing independent on the shallow and deep-water offshore and offshore installation contractor services to the offshore renewables segments of the oil and gas industry industry worldwide 41% of 2013 pro forma revenues 51% of 2013 pro forma revenues 8% of 2013 pro forma revenues 4

Executive Management David Wells, CEO. Master Mariner Christian Opsahl, CFO Has more than 30 years experience in the offshore sector with Extensive international finance, investment banking and particular focus on offshore operations, MWS and marine private equity experience within the global financial markets, consultancy. Specialist on jack up operations, location together with industrial experience from companies servicing approvals and all aspects of rig moving. More recently the offshore oil and gas markets. Based in Norway. involved in senior management duties. Dr Bader Diab PhD, Director Engineering and North America Phil Lenox, Director Asia Pacific. Structural Engineer Structural and Global Performance Engineer. 25 years offshore Over 40 years of onshore/offshore experience with both engineering global experience covering both shallow and deep contractors and consultancies including conceptual design, water sectors with extensive structural design experience of detailed structural analysis and design through to construction MODUs, mooring systems, motions, installation engineering and installation. Specialises transportation and installation and familiarity with shipyards. Based in Houston. projects including Dr Andrew Theophanatos PhD, Director South Americas Reuben Segal, Director Middle East. Naval Architect Naval Architect with over 30 years experience in offshore 19 years experience in the offshore and shipping sectors engineering and project management around the world and covering both engineering design and ship surveying. latterly in Brazil. Specialises on offshore engineering projects Extensive recent global business development experience with in both consultancy and MWS capacities for services related to focus on Design and Construction of offshore oil and gas all recent deepwater field development projects. assets. Santosh George, Group QHSE Manager Bjørn Havard Brenden, M.Sc., Director Norway Specialist QHSE consultant and auditor with extensive risk Naval Architect and Marine Engineer with 20 years experience analysis experience covering shipyards and offshore assets in engineering design and as project manager for projects together with implementation of Group Management systems involving ships, semi submersibles, offshore service vessel, and ISO accreditations. Based in UAE. tankers and conversions to FSU/FPSO including offshore construction and installation experience. Based in Norway. Torbjørn Rogde, Managing Director, Tristein AS Ian Bonnon, Group Renewables Director Extensive background from the navy from 1986 to 2001. Over 30 years experience in the offshore wind, oil and gas, Experience includes AMOS Academy and Grieg Logistics. marine and subsea cable industries. Specialist in provision of Before joining Tristein AS, he was running his private consultancy services to offshore wind farm developers and company, supporting development of HSEQ systems and investors for full life cycle scopes of work. Ian is a Chartered conducting management and leadership training for seafarers. Civil Engineer and is based in London 5

Agenda 1. Introduction 2. Our business a) Aqualis Offshore Ltd b) Tristein AS c) Offshore Wind Consultants Ltd d) Combined group 3. Financials Appendix 6

Aqualis Offshore Ltd – specialised offshore marine and consultancy services Key information   Established in 2012 Integrated marine and engineering staff consists of carefully selected industry specialists with long track  Provider of specialist marine and engineering consultancy, record primarily to the offshore oil and gas sector and renewables  industry Global footprint – 13 offices in 9 countries   Head office in London, operating as a global entity Approx. 150 employees Service offering Engineering Marine Warranty Services Transportation and Installation Construction Supervision Services Rig Moving Marine Consultancy Dynamic Positioning Services Due Diligence Services 7 Engineering

Service sectors Service sectors  Offshore projects  Construction & support vessels  Mobile offshore jack up units  Dynamic Poitionning  Floaters: Semi- subs / drill ships /  Transport and tender barges installation  FPSOs / FSOs  Renewables  Fixed platforms  Investment Market  Pipelines 8

Offshore operations: key for all business lines «Doing» derivative Offshore Operations «Observing» derivative  Technical Due diligence  Jack up engineering  Moving of rigs (basic design, upgrade  DP FMEAs and audits  Offshore Construction and conversion) Projects  Vessel inspections and  FPSO marine engineering  Transportation & surveys  Construction supervision installation  Marine and engineering  Engineering design and  Marine Warranty approvals consultancy Services (MWS)  Site assessments  Key staff provision  FPSO engineering and  Engineering reviews / installation verifications  Towages  Marine consultancy 9

Complete life-cycle involvement with offshore assets Marine project / asset life cycle Engineering / Project Hook-up and Asset De- Project initiation Construction design phase procurement commissioning management commissioning Engineering (niche-focus): Construction yard supervision: Marine operations: Inspection & approvals: Aqualis Offshore Basic / conceptual design / FEED Site attendance on behalf of owners, Transport and installation services; Marine warranty services services shipyards, financial institutions, 3 rd “moving of offshore assets” Modifications and upgrades of Mooring analysis parties drilling rigs / FPSOs / FSOs / lift- Rig moving Condition and suitability surveys / boats New-builds + conversions & upgrades Float-overs audits Transportation & installation Due diligence / compliancy; financial Site attendance & procedure DP inspections and audits analysis community focus management Jack-up site assessments Aqualis’ key competencies are conjointly exposed to both offshore opex and capex cycles 10

Selected clients NOCs / IOCs: Offshore cont. / shipyards: Rig / vessel owners: Underwriters / financial inst.: 11

Global presence – covering all major oil regions OSLO/SANDEFJORD LONDON SHANGHAI HOUSTON DAMMAM DUBAI MANAMA MEXICO ABU DHABI SINGAPORE RIO DE JANEIRO Current locations 12

Agenda 1. Introduction 2. Our business a) Aqualis Offshore Ltd b) Tristein AS c) Offshore Wind Consultants Ltd d) Combined group 3. Financials Appendix 13

Tristein – an experienced operator  Highly respected player on the Norwegian continental shelf (NCS)  Founded in 2007, commenced operations in 2008 by six former sea captains with background from the oil & gas industry  innovative wide range provider of offshore marine operational services and offshore installation contractor  Strong position within both offshore oil and gas and renewables, reflected in several long-term client relationships and frame agreements  Combined competence of Tristein and Aqualis Offshore = stronger service offering to customers on the NCS and abroad Offers highly demanded competence, built on experienced personnel with background from the shipping and offshore industry 14