Investors and Analysts Meeting March 2018 www.renaissanceoman.com - PowerPoint PPT Presentation

Investors and Analysts Meeting March 2018 www.renaissanceoman.com

Our Business Group o Market leader in Facilities management, o Modern, young and efficient Off-shore Contract services and Accommodation Support Vessel fleet of 100 vessels solutions in Oman o Fortress position in the Caspian and o Primarily in the Middle-East, with significant presence in Middle East and operational experience in Norway, Iraq West Africa and Afghanistan 2

Vision : ‘ To be champion provider of marine logistics solutions to the global offshore industry, with profitability in the top quartile ’ 3

Young Fleet – Enhanced Value to Clients 15.9 years younger 5.7 years 25.4 9 years younger 8.8 years younger younger 20.0 5.7 years 17.7 17 younger 14.3 13.4 9.5 8.7 8.2 7.7 Industry average Topaz All OSV ERRV MPSV PSV AHTSV Industry data from Clarkson ’ s Shipping Intelligence Network Younger vessels have less downtime, more capacity and better fuel use Market leader in vessel efficiency, with an average age of 8.2 years, significantly below the market average of 17 years 4

Vision : Provide innovative, sustainable, IFM and Accommodation solutions, that unlock human capital, optimize asset utilization, and drive economic wellbeing that translates into superior returns BUILD OWN CATERING LANDSCAPING CAFES ENERGY … AND CLEANING LAUNDRY WASTE RECEPTION OPERATE MANAGEMENT MORE MANAGEMENT 5

Renaissance – Unique service offering at world class standards IFM Renaissance Renaissance Contract Villages Duqm Village services • • Build, own and operate • Turnkey • Catering New state of the art model • accommodation Cleaning accommodation facility • • solutions World class living facilities Laundry • Over 16,000 beds ~ 3,710 • • for large groups of Security Reducing costs for rooms ~ 192,480 square • client ’ s non-core contractors at affordable Waste meters costs management services • Best value for money • Hard FM • • Fully serviced: catering, No margins on margins proposition for occupants (CMMS; IOT cleaning, medical, through minimal • Oman leading the world in and branded recreation and more. outsourcing caring for workforces homecare • Higher standards at lower competitively services) costs through economy of scale We create strategic partnerships with our clients and offer exceptional solutions for all their facility needs, giving them more time to focus on their business 6

Renaissance Duqm Village – Largest PAC in Oman Renaissance Duqm Village fulfils SEZAD ’ s and Oman ’ s vision in demonstrating how to look after workforces well, without compromising competitiveness of projects 7

Our Growth Drivers Resilience within – strong future outlook State of the art Renaissance Duqm Village Strategic contract wins which secure our long commenced. Positive contribution expected term future : from 2018 onwards ❖ BP 2020 Market leader in Oman, serving for the last 25 ❖ Tengizchevroil project years Largest ever signed single contracts in the Oman PDO oilfields PACs delivering offshore industry sustainable revenue. Clear focus on leveraging our Hard FM capabilities to address opportunities Developing new markets in UAE and beyond Our underlying business fundamentals remain intact with an industry leading contract backlog of 8 USD 1.8 billion

Industry Updates 9

Global Energy Outlook ➢ Market consensus show a gradual increase in oil prices from 2017 ➢ In the long-term, oil prices are weighted towards the upside Global Energy Demand 6,000 Outlook (million tonnes of oil equivalent) 5,000 Oil Oil Price Outlook 4,000 Coal Gas 3,000 Renewables 2,000 1,000 Nuclear 0 2000 2005 2010 2015 2020 2025 Source: IMF – Oil Prices and the Global Economy, 2017 1. 10 2. International Energy Agency

Currently challenged OSV Market.. Outlook for 2018 positive USD Bn Market share* by player 12 10 9.5 17% 10 8.1 40% 8 5.3 6 13% 4.2 4.1 4 2 12% 0 2013 2014 2015 2016 2017 2018 5% 7% 6% OSV Market Revenue Bourbon ECO Tidewater COSL Maersk Topaz Others Source: Spears Oilfield Market Report *Based on total market revenue Global forecast to increase by 5.1% going forward 11

OSV Market Outlook Fewer competitive vessels lead to supply / Increasing Day rates 20,000 2,000 demand balance 1,800 18,000 OSV Average Dayrate ($/Day) 1,600 OSV Supply / Demand 1,400 ( ‘ 000 Vessel Days) 16,000 1,200 1,000 14,000 800 12,000 600 400 10,000 200 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Reference case Topaz Demand Total Theoretical Supply Available Supply (excluding Lay-ups) Competitive Supply¹ Source: Westwood Global Energy Group Analysis 12

Market positioning - Topaz EBITDA CAGR (%) 17-19E Net Debt/EBITDA (x) 17E Revenue CAGR (%) 17-19E Median Median Median 8% 19% 4.0 Peer 2 Peer 2 Peer 2 23% Negative EBITDA - Negative Peer 1 Peer 1 Peer 1 27% 41% - Nil Topaz Topaz Topaz 37% 54% 5.7 - 2.0 4.0 6.0 0% 10% 20% 30% 40% 0% 20% 40% 60% Source: Company data, Factset January 2018 13

Financial Performance 14

Financial Highlights - Group Revenue 2017 2016 OMR 194 m Rial m Rial m EBITDA USD 504 m Employees Revenue* 194 207 Over 10,000 OMR 60 m USD 156 m EBITDA* 60 70 Renaissance Group Operating profits* 25 36 Asset Base Global Presence Net Profit after tax* (10.7) (0.5) OMR 0.8b 15 Countries USD 2.0b Contract Backlog Net Profit/(Loss) (47) (39) (after one-offs) USD 1.8b * Before one-offs Clear focus on operational excellence and financial discipline has helped to tide us over the business cycle and protect value in the company 15

Financial Highlights - Topaz Revenue 2017 2016 OMR 94 m Rial m Rial m EBITDA USD 244 m Employees Revenue* 94 109 Over 1,800 OMR 45 m USD 117 m EBITDA* 45 56 Operating profits* 18 27 Op. Profits Global Presence Net Profit/(Loss) (10) (3) OMR 18m 14 after tax* Countries USD 47m Contract Backlog * Before one-offs USD 1.5b 16

Financial Highlights - Renaissance Revenue 2017 2016 OMR 100 m Rial m Rial m EBITDA USD 260 m Employees Revenue* 100 98 Over 8,500 OMR 15 m USD 39 m EBITDA* 15 14 Operating profits* 7 9 Op. Profits Global Presence Net Profit after tax* 3 6 OMR 7m 3 Countries USD 18m Contract Backlog * Before one-offs USD 300 m 17

Group Revenue* Supported by long term secured contracts 250 244 Rial Million 239 237 225 207 200 194 175 150 2013 2014 2015 2016 2017 * Before one-offs. We have a positive future to look forward to in 2018 and going forward 18

Group Revenue - Segmentation Rial Million 47% 94 48% 100 52% 53% Offering a long term sustainable value proposition to clients 19

Group Revenue – Geographical Segmentation Others Oman 16 85 44% Oman 37% Caspian 11% MENA Caspian 8% Others MENA 72 21 Rial Million Geographic focus on the Caspian, MENA and West Africa regions 20

Group EBITDA* Liquidity Position of the Group is well preserved Rial Million 90 82 70 73 60 2013 2014 2015 2016 2017 * Before one-offs. Despite the oil crisis, our operational performance has generated sustainable cash flows to meet all our commitments on time Clear focus on maintaining liquidity and improving long term operational efficiencies 21

Group EBITDA - Segmentation Rial Million 15 47% 25% 45 53% 75% Underwrites the strength which enables the group companies to meet all their commitments 22

Group Operating Profit* Sustainable profit through operational efficiencies Rial Million 60 49 48 36 25 2013 2014 2015 2016 2017 * Before one-offs. Our businesses have worked hard to cut costs in response to the crisis This year, we have passed much of the resulting savings on to our long-term clients in the interest of preserving and developing those vital relationships 23

Group Operating Margins* 45% 35% 35% 29% 28% 25% 25% 19% 15% 10% 10% 9% 9% 7% 5% 2013 2014 2015 2016 2017 * Before one-offs. Topaz Renaissance We have created the platform to start rebuilding the recent year ’ s lost value in 2018 and delivering sustainable value and new growth in the years ahead 24

One – off Charges No impact on our liquidity position 7 Rial Million 19% 47% 4 11% 1 53% 3% 25 67% Provision for Goodwill Increase in derivative Refinancing cost of impairment of vessels impairment liability Senior Notes These one-offs are a product of negative sentiment due to oil price crisis 25

Gearing Fiscal Discipline 2.15 1.62 1.54 1.29 1.21 2013 2014 2015 2016 2017 Deleveraging our Balance Sheet is our top priority. RO 28 million repaid in 2017. 26

Our Ongoing Investment Programme Planned investments generating long term economic value 123 104 Rial Million 41 81 74 56 42 63 18 2013 2014 2015 2016 2017 Capex for Tengiz We are well placed to get through this low cycle of offshore markets through our capacity for resilience developed over the years 27