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Sep 30, 2022 •111 likes •397 views

Q1 Presentation May 10 th 2017 Craig Jasienski (President & CEO) Rebekka Glasser Herlofsen (CFO) Todays Presenters Craig Jasienski Rebekka Glasser Herlofsen CFO President & CEO Number of years in industry: > 20 years

  1. Q1 Presentation May 10 th 2017 Craig Jasienski (President & CEO) Rebekka Glasser Herlofsen (CFO)

  2. Today’s Presenters Craig Jasienski Rebekka Glasser Herlofsen CFO President & CEO • • Number of years in industry: > 20 years Number of years in industry: > 30 years • • Born: 1970 Born: 1969 • • Key Experience: Key Experience: – – CEO, Eukor Car Carriers CFO, The Torvald Klaveness Group – – Director, Business Development, Bergesen d.y. ASA CEO, United European Car Carriers (UECC) – – Board Member, Statoil ASA & DNVGL Various leadership positions in WWL AS – Chair of the Board, Cermaq 2

  3. Agenda Business Update Financial Performance Market and Business Outlook Summary and Q&A 3

  4. BUSINESS UPDATE by Craig Jasienski 4

  5. Business Update Financial Performance Market and Business Outlook Summary and Q&A Business update Q1 at a glance… Merger moving ahead as per plan Volume and cargo mix shows positive development Main trades show positive development out of Asia Total fleet increased to 128 vessels, with one delivery in Q1 Continued positive developments for the landbased segment 5

  6. Business Update Financial Performance Market and Business Outlook Summary and Q&A th 2017 il 5 th WWL ASA lis listed on Oslo lo Børs April - Merger received final regulatory approval on 1 April, and WWL ASA started trading on Oslo Stock Exchange April 5th - Organizational restructuring well underway, target to have new organisation fully established before summer - New structure will allow up towards USD 100 million in cost synergies and provide revenue growth opportunities with full effect from 2019 - Free float market cap of more than USD 0.5 billion, representing more than 70% increase 6

  7. Business Update Financial Performance Market and Business Outlook Summary and Q&A A new and more efficient structure in place… From a structure of jointly controlled entities... ...to an integrated and more efficient WWL structure Wilh. Wilh. Public Public Soya Group Wilhelmsen Wallenius Wilhelmsen minority minority Holding ASA Holding ASA 27% 73% 100% 38% 24% 38% Wallenius WW ASA WWL ASA 100% 100% Wallenius Wallenius ’ WW ASA’s 50% 50% Wilhelmsen fleet fleet Logistics Ocean 1 Landbased 40% 40% EUKOR 20% HMG  Management Team: all entities structured under WWL ASA 50% 50% ARC → increase transparency, both internally and externally  Integrated Structure: from 5 to 1 Executive Management Team and organization → stronger co-operation, speed up decision-making and significant GSA synergies  From 3 stand-alone operating companies to 1 integrated structure → increase fleet utilization and flexibility 1) Hyundai Motor Group will continue to own 20% of EUKOR 7 Note: ARC retains a separate and independent management structure

  8. Business Update Financial Performance Market and Business Outlook Summary and Q&A Strong Top Management Team wit ith average +20 years exp xperience WWL ASA Senior Management Team WWL ASA Craig Jasienski President & CEO Jan Dahm-Simonsen 1 Rebekka Glasser Herlofsen Organizational development & CFO HR Christer Nygren Ari Marjamaa Business Planning & Marine Business Transformation & IT EUKOR WWL Ocean WWL Landbased Erik Noeklebye Mike Hynekamp Ray Fitzgerald CEO COO COO 1) Appointed April 2017 8

  9. Business Update Financial Performance Market and Business Outlook Summary and Q&A Volume and cargo mix ix shows positive develo lopment Volu olume and and Car Cargo o Mix Mix de develo lopment Comments Co Million CBM and % Volume HH share of volumes • Ocean transported volumes down 2% q-o-q Million CBM % mainly due to seasonality, but increased 3% 22 35 20.5 y-o-y, primarily driven by: 19.6 19.4 20 18.7 3% -2% 18.3 18.2 18.0 30 - Increased volumes exported from Asia to both 18 16.7 16.2 15.9 Europe and South America 15.5 16 15.2 25 25% 25% 24% 24% - Export from Asia to North Americas declined 24% 14 24% 24% 23% 23% 22% 20 21% - Increased import to Oceania from Europe 12 20% 10 • Cargo mix 15 8 - Improvement in cargo mix from 21% to 23% HH 10 6 (High & Heavy) share of total volumes q-o-q 4 - Stable development in cargo mix y-o-y 5 2 0 0 Q2’14 Q3’14 Q4’14 Q1’15 Q2’15 Q3’15 Q4’15 Q1’16 Q2’16 Q3’16 Q4’16 Q1’17 9

  10. Business Update Financial Performance Market and Business Outlook Summary and Q&A Positive development in in exp xport from Asia ia to Europe and NA q-o-q EU - ASIA Asia - EU Atlantic Shuttle 14% 6% -5% -5% 2.9 2.9 3.0 1% -3% 2.8 2.8 2.6 3.0 2.8 2.9 Q1 ’16 Q4 ’16 Q1 ’17 Q1 ’16 Q4 ’16 Q1 ’17 Q1 ’16 Q4 ’16 Q1 ’17 Asia - NA EU/NA – Oceania 1) -8% 14% 3.5 8% -8% 3.2 2.8 1.2 1.1 Asia - SAWC 1.0 18% -9% Q1 ’16 Q4 ’16 Q1 ’17 1.1 1.0 0.8 Q1 ’16 Q4 ’16 Q1 ’17 WWL trade routes EUKOR trade routes Q1 ’16 Q4 ’16 Q1 ’17 ARC trade routes Note: All numbers given in million CBM per quarter 10 1) Including Cape sailings (South Africa)

  11. Business Update Financial Performance Market and Business Outlook Summary and Q&A Total fle leet is is 128 vessels ls, wit ith one deliv livery in in Q1 Fl Flee eet de develo lopment Co Comments CEU, # of vessels • One Eukor vessel delivered 30 th March CEU ‘000 # of vessels 1,000 180 • No further CAPEX planned past five post 934 929 924 917 913 900 897 889 886 873 873 865 865 160 Panamax newbuildings with expected delivery 800 146 140 147 between 2017 and 2019 (remaining CAPEX of 143 140 140 139 137 134 133 130 128 USD ~200 million) 120 127 125 600 • Additional capacity need will be acquired in 100 the charter market 80 400 • WWL ASA strives to have fleet flexibility 60 through combination of owned, long- and 40 200 short-term T/C tonnage 20 • Flexibility to redeliver 9 vessels by end of 2017 0 0 Q2’15 Q3’15 Q1’14 Q2’14 Q3’14 Q4’14 Q1’15 Q4’15 Q1’ 16 Q2’ 16 Q3’ 16 Q4’16 Q1’17 11

  12. Business Update Financial Performance Market and Business Outlook Summary and Q&A Contin inued positiv ive develo lopments for the la landbased portfoli lio Landbased segment business update • Continued strong performance for technical services supported by stable volumes and high content value adding services for VSA • Build-up of auto inventories in the US during Q1 2017 • Terminals show stable performance in line with overall ocean volumes , but pulled back by planned intermediate low volumes during start-up of MIRRAT in Australia, which is expected to come in with full effect from 2018 12

  13. Financial Performance by Rebekka Glasser Herlofsen 13

  14. Business Update Financial Performance Market and Business Outlook Summary and Q&A WWASA – Profit & Loss Loss 1 WWAS ASA A Profi ofit & & Los Co Comments USD million 2017 Q1 2016 Q4 2016 Q1 FY 2016 • Total operating income adjusted for non Operating income 439 450 432 1,751 recurring items and “Treasure ASA” slightly Gain on sale of assets 9 80 455 down q-o-q and slightly up y-o-y Share of profits from JV's and associates 13 13 • EBITDA adjusted for non recurring items and Total income 448 450 525 2,219 “Treasure ASA” declined 12% q -o-q and 2% y- EBITDA 79 43 161 728 o-y mainly driven by weaker performance in Depreciation and impairments (38) (38) (35) (148) the ocean segment EBIT 41 4 126 580 • Net financial expenses impacted by market Financial income/(expense) (11) 0 (15) (37) Profit/(loss) before tax 30 4 111 543 movements in USD interest rates and 1 1 1 appreciation of USD vs our major currencies 26 (21) 104 500 Net profit 2) Earnings per share (USD) 0.12 -0.09 0.47 2.27 1) Reported figures (non adjusted) 14 2) Incl. minority interests

  15. Business Update Financial Performance Market and Business Outlook Summary and Q&A WWASA – Ocean segment egment 1 Tot otal inc ncome and and EBIT EBITDA oce ocean segm Co Comments USD million • Ocean income adjusted for non recurring Total income EBITDA items declined 3% q-o-q, but stable y-o-y Non recurring items • EBITDA adjusted for non recurring items -1% -3% declined 15% and 5% y-o-y respectively (USD 9 372 365 354 -5% -15% 357 337 million gain on sale of vessel to group 73 73 62 65 61 company in Q1 ’17 as non recurring) • Ocean transported volumes fell 2% q-o-q, but increased 3% y-o-y 31 4 2 • Earnings negatively impacted by increased -9 -9 Q1’16 Q2’16 Q3’16 Q4’16 Q1’17 Q1’16 Q2’16 Q3’16 Q4’16 Q1’17 bunker costs due to time lag in BAF clauses • Continued pressure on ocean rates 1) Adjusted for non recurring items 15

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