Q4 2015 Earnings Presentation 25 February 2016 Not For - PowerPoint PPT Presentation

Q4 2015 Earnings Presentation 25 February 2016 Not For Redistribution

2 Forward-Looking Statements All st at ements in t his press release t hat are not st at ements of hist orical fact are “ forward-looking st at ements” wit hin t he meaning of t he U.S . Privat e S ecurit ies Lit igat ion Reform Act of 1995. Forward-looking st at ements include st at ements t hat address act ivit ies, events or developments t hat t he Company expect s, proj ect s, believes or ant icipat es will or may occur in t he fut ure, part icularly in relat ion t o our operat ions, cash flows, financial posit ion, liquidit y and cash available for dividends or dist ribut ions, plans, st rat egies and business prospect s, and changes and t rends in our business and t he market s in which we operat e. We caut ion t hat t hese forward-looking st at ements represent our est imat es and assumpt ions only as of t he dat e of t his press release, about fact ors t hat are beyond our abilit y t o cont rol or predict , and are not int ended t o give any assurance as t o fut ure result s. Any of t hese fact ors or a combinat ion of t hese fact ors could mat erially affect fut ure result s of operat ions and t he ult imate accuracy of t he forward-looking st at ements. Accordingly, you should not unduly rely on any forward-looking st at ement s. Fact ors t hat might cause fut ure result s and out comes t o differ include, but are not limit ed t o t he following:  general LNG shipping market condit ions and t rends, including spot and long-t erm chart er rat es, ship values, fact ors affect ing supply and demand of LNG and LNG shipping and t echnological advancement s;  cont inued low prices for crude oil and pet roleum product s;  our abilit y t o ent er int o t ime chart ers wit h new and exist ing cust omers;  changes in t he ownership of our chart erers;  our cust omers’ performance of t heir obligat ions under our t ime chart ers;  our fut ure operat ing performance, financial condit ion, liquidit y and cash available for dividends and dist ribut ions;  our abilit y t o obt ain financing t o fund capit al expendit ures, acquisit ions and ot her corporat e act ivit ies, funding by banks of t heir financial commit ments, and our abilit y t o meet our rest rict ive covenant s and ot her obligat ions under our credit facilit ies;  fut ure, pending or recent acquisit ions of or orders for ships or ot her asset s, business st rat egy, areas of possible expansion and expect ed capit al spending or operat ing expenses;  t he t ime t hat it may t ake t o const ruct and deliver newbuildings and t he useful lives of our ships;  number of off-hire days, drydocking requirements and insurance cost s;  fluct uat ions in currencies and int erest rat es;  our abilit y t o maint ain long-t erm relat ionships wit h maj or energy companies;  our abilit y t o maximize t he use of our ships, including t he re-employment or disposal of ships not under t ime chart er commit ments;  environmental and regulat ory condit ions, including changes in laws and regulat ions or act ions t aken by regulat ory aut horit ies;  t he expect ed cost of, and our abilit y t o comply wit h, governmental regulat ions and marit ime self-regulat ory organizat ion st andards, requirements imposed by classificat ion societ ies and st andards imposed by our chart erers applicable t o our business;  risks inherent in ship operat ion, including t he discharge of pollut ant s;  availabilit y of skilled labor, ship crews and management;  pot ent ial disrupt ion of shipping rout es due t o accident s, polit ical event s, piracy or act s by t errorist s;  pot ent ial liabilit y from fut ure lit igat ion;  any malfunct ion or disrupt ion of informat ion t echnology syst ems and net works t hat our operat ions rely on or any impact of a possible cybersecurit y breach; and  ot her risks and uncert aint ies described in t he Company’ s Annual Report on Form 20-F filed wit h t he S EC and available at ht t p:/ / www.sec.gov. We undert ake no obligat ion t o updat e or revise any forward-looking st at ements cont ained in t his press release, whet her as a result of new informat ion, fut ure event s, a change in our views or expect at ions or ot herwise, except as required by applicable law. New fact ors emerge from t ime t o t ime, and it is not possible for us t o predict all of t hese fact ors. Furt her, we cannot assess t he impact of each such fact or on our business or t he ext ent t o which any fact or, or combinat ion of fact ors, may cause act ual result s t o be mat erially different from t hose cont ained in any forward-looking st at ement. The declarat ion and payment of dividends are at all t imes subj ect t o t he discret ion of our board of direct ors and will depend on, amongst ot her t hings, risks and uncert ainties described above, rest rict ions in our credit facilit ies, t he provisions of Bermuda law and such ot her fact ors as our board of direct ors may deem relevant .

3 2015: GasLog Continued To Execute On Its Strategy New Business  Chartered 3 newbuilds to BG/Shell for 9.5 years each 1  Increased contracted revenue to $3.7bn  Cool Pool launched to actively manage spot exposure Finance  $1.3bn financing provides fully committed debt for 8x newbuilds 2  $115m preferred offering broadens access to capital  3 vessel dropdown to GasLog Partners for $483m takes IDRs to 25% Operations  Utilization across the contracted fleet of 99.2% 3  Streamlined operating costs without compromising quality/safety  8 drydockings on time and on budget GasLog continued to execute on its strategy

4 GasLog Well Placed Today And For The Future 1. Balance Sheet Strength To Manage Prolonged Downturn 2. Fully Committed Debt Funding For Newbuild Programme 3. Existing And Newbuild Fleet Largely Contracted 4. World Leading Counterparty In Shell 5. In-Built Growth For A Multi-Year Period 6. No Debt Maturities Until 2018+ 7. Dividend Maintained

5 GasLog Ltd.’s Q4 2015 Highlights Adjusted EBITDA (1) of $69.2 million and Adjusted Profit (1) of $14.0 million   Completed $1.3 billion financing for GasLog’s eight newbuildings – Committed bank/export credit financing at attractive terms  Post quarter-end, completed $576.5 million five-vessel re-financing – Attractive blended margin across the senior and junior tranches  Post quarter-end, sale & leaseback of Methane Julia Louise to Mitsui − No further refinancing requirements until 2018  Quarterly dividend of $0.14 per common share payable March 17, 2016 1. EBITDA, Adj ust ed EBITDA and Adj ust ed Profit are non-GAAP financial measurement s, and should not be used in isolat ion or as a subst it ut e for GasLog’ s financial result s present ed in accordance wit h Int ernat ional Financial Report ing S t andards (“ IFRS ” ). For definit ion and reconciliat ion of t hese measures t o t he most direct ly comparable financial measures calculat ed and present ed in accordance wit h IFRS , please refer t o t he Appendix t o t hese slides

6 Financial Highlights Q4 2015 Q4 2014 (Amounts expressed in millions of U.S. Dollars) Profit & Loss Revenues 107.5 99.0 Adjusted EBITDA (1) 69.2 67.5 Adjusted Profit (1) 14.0 24.0 (0.02) 0.28 Adjusted EPS ($/share) (1) Balance Sheet71,681 2,374.5 1,895.3 Gross Debt 371.7 262.9 Cash and Cash equivalents 2,002.8 1632.4 Net Debt 80,496,499 80,493,126 Weighted average number of shares (1) Adj ust ed EBITDA , Adj ust ed Profit and Adj ust ed EPS are non-GAAP financial measures, and should not be used in isolat ion or as a subst it ut e for GasLog’ s financial result s present ed in accordance wit h Int ernat ional Financial Report ing S t andards (“ IFRS ” ). For definit ions and reconciliat ions of t hese measurement s t o t he most direct ly comparable financial measures calculat ed and present ed in accordance wit h IFRS , please refer t o t he Appendix t o t hese slides (2) Ut ilisat ion is calculat ed by t aking days on which our vessels are on cont ract as a percent age of t ot al available days. Ut ilisat ion includes t he impact of vessels t rading in t he spot market as well as drydockings and maint enance

Long-Term, Contracted Strategy Provides Access To 7 Attractive Financing  $576.5m re-financing means no debt maturities until 2018 ‒ $396.5 million 5-year senior / $180 million 2-year junior  Attractive blended margin across senior and junior tranches  Senior tranche weighted average profile of 21 years from vessel delivery  Strong appetite from seven international banks to lend against modern LNG vessels with contracts  Terms in line with GasLog’s other secured debt facilities

GasLog’s Entry Into Japanese Financing Markets 8 Brings Opportunity  Sale and leaseback of the Methane Julia Louise with a subsidiary of Mitsui & Co., Ltd.  Attractive long-term, Japanese financing − Sale & leaseback for a period of up to 20 years − Option to re-purchase vessel from 2026 through 2033 − Very competitive tenor and cost of capital  The vessel remains on a 11-year charter with a subsidiary of Shell  The sale & leaseback allows for future dropdown to GasLog Partners  Broadens GasLog’s access to alternative sources of financing  Creates a new working partnership with one of the world’s largest LNG players