World Wide Supply AS NOKm 100 share issue Investor presentation 13 - PowerPoint PPT Presentation

World Wide Supply AS NOKm 100 share issue Investor presentation 13 May 2014

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Agenda  Transaction summary  World Wide Supply overview  The vessels  Financials  Risk factors 3

Summary WORLD WIDE SUPPLY World Wide Supply was founded 2010 by industrial and financial owners  Ship management by Remøy Management, in Brazil supported by UOS / Astromaritima  SIX VESSELS, ALL DELIVERED AND WITH CONRACTS All six vessels were delivered during 2013 and early 2014  Two vessels in the North Sea on 1-year contracts with GdF Suez (to April 2015 incl. options)  Four vessels with 4-year contracts with Petrobras in Brazil: the two first arrived Brazil on 10  May and the final two are enroute and expected to arrive by 21 May. The first two are expected to be on rate with Petrobras by end-May and the final two by mid-June NON-AMORTIZING FLEET LOAN AND 50% OF NET PROFIT AS DIVIDENDS FROM 2016 Fleet loan USDm 150 @ 7.75% without amortizations  Refinancing at ~69.5% vs. market value and ~77.5% vs. depreciated book value  Aim to pay 50% of net profits as dividends from 2016 (for 2015)  Current contracts yield annualized cash flow of USDm ~11  Post-money equity valuation USDm ~50  4

Main terms Private Placement Timetable and Key Conditions  Private Placement of up to NOK 100 million  Application Period: [•] May 2014 @ 09:00 CET – [•] May 2014 @ 18:00 CET  New share issue: up to 11,019,568 new shares - The Book may be closed earlier or later at the  Issue price of NOK 9.0-10.0 per share company’s discretion, however in no event earlier  Number of shares pre-issue: 22,039,000 shares then [•] May 2014 @ 16:00 CET  Number of shares post issue: up to 33,058,568 shares  Minimum application: NOK equivalent to EUR 100,000  Notification of allocation: On or about [•] May 2014  New shares represent [31.0-33.3]% of shares  Payment : On or about [•] May 2014  Delivery: On or about [•] May 2014  Sydvestor AS will subscribe for 6.4% of the shares offered in the Private Placement, seeking to maintaining its ownership of 6.4%  Subject to investor demand, the Company will seek to  Allocation criteria: investor quality, timeliness and quality of have its shares listed on the Oslo Stock Exchange within 12 months order  Use of proceeds: Working capital and general corporate  Investor requirement: (i) Norwegian investors, (ii) purpose international institutional investors, and (iii) US 144A (QIB’s as defined by Rule 144A)  Documentation: investor presentation, terms of application and term sheet  Manager: Pareto Securities AS Please refer to the Terms of Application and Term Sheet for full details on the offering terms 5

Sources and uses of funds  Total yard turnkey contract price including Summary of uses & sources of funds VTCs of EURm 149.7m, equivalent to NOK million NOK per share In USD million USDm 203.5 / NOKm 1,223 Pre-money cash equity NOKm 264 NOK/sh 12.0 USDm 44 New cash equity " 99 " 9.0 " 17 Total cash equity " 363 " 11.0 " 61  Total capital requirements of NOKm ~1,500 ADS equity " 243 " 41 Total equity " 606 " 101 including project costs and working capital Bond " 900 " 150 Total funds " 1,506 " 251  Total book equity of NOKm 606 post-money Yard price vessels NOKm 1,223 USDm 204 - Ordinary paid in equity of NOKm ~264 OFE " 19 " 3 Transaction costs " 83 " 14 - ADS structure equity of NOKm ~243 Working capital " 181 " 30 committed from Damen Total use of funds " 1,506 " 251 - New equity NOKm ~99 USD/NOK 6.00  USDm 150 / NOKm ~900 bond Number of shares post money 33.04 mill 6 Note: Figures based on EURUSD 1.36

Agenda  Transaction summary  World Wide Supply overview  The vessels  Financials  Risk factors 7