Hordaland p Brs | 21 August 2019 Born out of Bergens maritime - PowerPoint PPT Presentation

Hordaland på Børs | 21 August 2019

Born out of Bergen’s maritime cluster…

…we came of age one year ago +

We became one the world’s marine seismic leaders

Owning the world’s largest fleet of high -end seismic vessels 11 High-End 3D Streamer Vessels and 3 MPVs Technology and Manufacturing Processing & Imaging Reveal

Customers across the world have welcomed us New contract awards since close of WesternGeco transaction in November 2018 Customer: 4D Type of 3D / 2D 3D OBS OBS 3D 4D 4D 3D 3D / 4D 3D 4D 3D baseline work: 3 months 5 months ~4 months 1 month ~8 months 3 months ~2 months 1 month ~5 months ~3 months ~4 months ~2 months Duration: 2 months Vessel: Polar Polar WG WG Amazon Amazon Polar Amazon Amazon Polar Polar Polar Amazon Empress Marquis Tasman Tasman Warrior Conqueror Empress Conqueror Conqueror Empress Marquis Duchess Conqueror and WG and WG and WG and Polar and WG Cook Cook Amundsen Duchess Amundsen 11-Dec- 11-Dec- 6-Feb- 6-Feb- 21-Feb- 25-Feb- 19-Mar- 26-Mar- 9-Apr- 11-Apr- 21-May- 4-Jun- 25-Jun- 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019 2019

Our efforts have yielded an active fleet and growing backlog Active vessels Backlog Backlog value USD* “summer season” vessel months* 26 10 ~3.5x 11 3 2018 2019 2018 2019 2018 2019 * As of end June 2019 * As of end June 2019

In June, we announced that our voyage continues …

We are building a global marine seismic acquisition company Completed December 4 November 2018 2018 – 2019 YTD H2 2019 CGG transaction adding further scale to Transformational acquisition of Schlumberger’s Well received by customers proven by Shearwater's cost efficient platform marine seismic acquisition business numerous contract awards + Contract awards since December 2018 5x 5 5x High-end 3D vessels Streamer sets ~55 3 6x 10x 1 4x High-end vessels Vessel months + 10x High-end 3D vessels/ reactivated awarded High-end 3D vessels MPVs 2 Min. commitment vessel years 12x 4x + Select customers in current backlog Marine Streamer Technology NewCo Streamer sets Streamer sets + Marine acquisition technology Shearwater became the world’s largest marine seismic acquisition company after acquiring A transaction in line with Shearwater’s Schlumberger’s marine seismic acquisition industrial strategy to position and adapt business to a changing marine seismic market 1) Acquired WesternGeco assets also include 2 source vessels; 2) Multi-purpose vessel; 3) Per August 2019; 4) CGG transaction announced 4 9 June 2019. Shearwater and CGG. Transaction close planned by YE 2019; 5) CGG transaction also include 2 additional 3D vessels.

Technology is the main driver for our industry • Most new fields will be developed through existing infrastructure • Typically, much smaller prospects • New technology needed • Shearwater to be in the forefront of this development

Attitude is still a small thing that makes a big difference Building a global leader out of Bergen! • An area with a strong maritime tradition… • … and entrepreneurial spirit • Access to competent and relevant workforce • Customer centric and flexible approach • Platform to develop new, sustainable seismic solutions Source: ) Google maps