1. Val av ordfrande vid stmman 2. Upprttande och godknnande av - PowerPoint PPT Presentation

Välkommen till Rederi AB TransAtlantic Årsstämma 2015

1. Val av ordförande vid stämman

2. Upprättande och godkännande av röstlängd

3. Val av en eller två justeringsmän

4. Prövning av om stämman blivit behörigen sammankallad

5. Godkännande av föredragningslista

6. Framläggande av: (a) årsredovisningen och revisionsberättelsen för moderbolaget, samt koncernredovisningen och koncernrevisionsberättelsen. (b) Revisors yttrande huruvida riktlinjerna för ersättning till ledande befattningshavare följts. I anslutning därtill anförande av styrelsens ordförande, verkställande direktören och affärsområdescheferna för Viking Supply Ships och TransAtlantic.

Tom Ruud Verkställande direktör och koncernchef

TransAtlantic in Brief  Two business areas: - TransAtlantic (TA), HQ Gothenburg - Viking Supply Ships (VSS), HQ Copenhagen  About 800 employees  34 vessels, 21 within TA and 13 within VSS  Listed on the NASDAQ OMX Stockholm, segment Small Cap  3,501 shareholders (YE 2014)

2014 - Highlights Rederi AB TransAtlantic:  Equity issue of SEK 148  Further restructuring to establish two independent businesses Viking Supply Ships:  Completion of the Kara Sea project drilling season 2014  Refinanced three loan facilities and significantly improving the debt maturity.  Significant contract awards despite market downturn. TransAtlantic :  Turnaround  Profitable business model for growth  RoRo/Container Feeder strategy

Tomas Bergendahl Finansdirektör

5 Year Summary Operational profit/loss Group MSEK 400 296 300 200 100 0 -100 -121 -137 -200 -300 -272 -327 -400 2010 2011 2012 2013 2014

5 Year Summary Operational profit/loss Viking Supply Ships MSEK 400 345 300 200 100 50 45 0 -100 -110 -119 -200 2010 2011 2012 2013 2014

5 Year Summary Operational profit/loss TransAtlantic MSEK 150 100 50 0 -50 -49 -100 -105 -150 -162 -200 -187 -208 -250 2010 2011 2012 2013 2014

5 Year Summary Financial position 50% 150% 45% 135% 40% 120% 35% 105% 30% 90% 25% 75% 20% 60% 15% 45% 10% 30% 5% 15% 0% 0% 2010 2011 2012 2013 2014 Equity ratio (left scale) Net debt ratio (right scale)

5 Year Summary Change in cash balance MSEK 900 Cash balance 800 Operating cash flow 637 700 548 600 450 500 381 361 400 300 200 100 0 -100 -200 2010 2011 2012 2013 2014

Key figures 2014 TransAtlantic Group TA VSS 2014 2013 2014 2013 2014 2013 (MSEK) 3 190 2 925 1 293 1 787 1 897 Net sales 1 138 296 -137 -49 -187 345 50 Operational result 217 -321 -128 -283 345 -38 Result before tax 412 144 Operational cash flow 450 381 Cash balance 5 260 4 884 Total assets 2 042 Shareholders equity 1 749 Equity/asset ratio % 39 36 110 Debt equity ratio % 130

Viking Supply Ships Head of Viking Supply Ships: Christian W. Berg

Highlights 2014 Strong financial results Key events during 2014  Net result of MNOK 292, compared to  Successful completion of the Kara Sea project. MNOK -52 in 2013.  Refinanced three loan facilities and significantly  Strong balance sheet, market value improving the debt maturity. adjusted equity ratio of 47%. Significant contract awards despite market   Positive development on the back of downturn. term contracts  Sold SBS Cirrus as part of streamlining the fleet.  Completed first phase of strategy process. Net result development 19

A unique business model Limited competition, market High revenue / low capital Unique competence and barriers present intensity service mix Attributed services  Global OSVs Ice-classed increasing link towards 3463 OSVs 23 clients.  High Arctic competence among crew. Shared competence  with SMA. VSS revenue divided on vessel book VSS 7 value vs industry average (VSS in yellow). Ice classed vessels below 25 years, Ice class 1A or above. 20

Significant contract awards Contract awards in Arctic regions Improved market position Strong contract awards in a generally  Brage Viking fixed to Oil major for up to 4  challenging OSV market supports the years and 2 months including options. company’s strategic position within its  Vidar Viking extended with Oil major to 1 st segment. August 2016, plus 6 months options.  Ice classed vessels obtain premium rates Balder Viking to the Pechora Sea for short  despite market downturn. contract with Gazprom Neft.  The company still sees opportunities in Arctic and Sub-Arctic regions. 21

An unexpected downturn? Mainly supply-side problem, but also influenced by: Reduced investments Weaker global demand Increased supply Offshore order boom  Operators signaled  Global demand has not  Increased efficiency from  PSV owners had reduced spending rebounded as assumed shale production in the ordered vessels on the already in 2013. after the financial crisis. US. back of high rig activity. Companies were cash China especially has Excess supply from As a result of reduced     negative after dividends lagged behind. shale should not be a spending, utilization has and capex even at prices surprise in it self, but dropped,  High energy prices can well above USD 100. combined with other be one of the  Activity will still be high factors this caused the  Industry needed to explanatory factors. in medium to long term, market to react as it did. increase efficiency. but rig and OSV market will be challenging. 22

A future for Arctic E&P? ” ” Long term Cost prices are reduction the leading brings indicator budget prices down – Also for Arctic oil ” ” Economies Growing of scale – energy Large demand investments combined but also with large depleting potential production rewards 23

The geopolitical situation in Russia ” ” ” Sanctions are OSVs are not Difficult to the major directly predict near obstacle for impacted by the term outlook, no operations in current obvious Arctic Russia. sanctions. solutions. 24

VSS approach to a weaker market Risk mitigation already initiated Reduced activity  Cost saving measures on general G&A being  Downturn to hit rig-market and implemented. oil-service harder than OSV.  Re-organizing the PSV segment, closing Aberdeen  PSV segment influenced the most. office and moving functions to Copenhagen.  Bigger downside risk at NCS in 2016/17. Ship operating cost being scrutinized.   UK sector coming from already low  Focus on term coverage. levels.  Refinancing of 3 facilities completed in 2014,  Of Arctic projects VSS expected, mainly improved maturity. Russian projects being delayed. Updated debt maturity per 31st December Wells drilled on NCS 1200 MNOK 200 1000 150 800 100 600 400 50 200 0 2009 2010 2011 2012 2013 2014 2015* 2015 2016 2017 2018 After 2018 *NPD forecast Bond 25

Contract coverage status  Brage Viking firmed up with Oil major to mid- December 2017 for operations in sub-Arctic region. Options to extend to mid 2019.  Vidar Viking now firm to 1 st August 2016, with options to extend to 1 st February 2017.  Ongoing process to firm up remaining optional periods for Njord Viking as well as secure contracts for remaining AHTS fleet. 2015 2016  Strong focus to secure term coverage for Contract 50% 47% PSV fleet. coverage AHTS Firm contract Option AHTS April May June July August September October November December January February March Oil major, 11 months firm + 2 x 6 months options Tor Viking Oil major, firm for 2015 + options 2016/2017 Spot Balder Viking Oil major, firm till 1st August 2016 + 6 x 1 months options Vidar Viking Spot Odin Viking Spot Loke Viking Eni Norge, firm till 29th July 2015 + 2x1 yearly options Njord Viking Spot Magne Viking Oil major, 2 years 8 months firm + 6 + 12 months options Brage Viking 26

Focus areas 2015  Pursuit term opportunities in Arctic and Sub-Arctic regions for the AHTS fleet. Increase term  Extension of optional periods of existing contracts in coverage progress.  Focus on world-wide opportunities for the PSV fleet.  Complete re-organization of PSV segment. Reduce cost base  Enhance capital discipline across the company.  Lean organization arranged for future growth.  Develop and commercialize on services under the Further develop Viking Ice Consultancy brand. services segment  Develop & confirm technology to increase customer loyalty. 27

Summary Increased contract Strong financial standing Prepared for future growth coverage at premium rates  Still opportunities in Net result of MNOK  core areas. 292 in 2014, compared to MNOK -52 in 2013.  Term vessels obtain premium rates.  Strong balance sheet, with value adjusted  Lean organization equity ratio of 47%. prepared for future growth. VSS AHTS contract coverage. 28

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Annual General Meeting Heléne Mellquist Gothenburg CEO April 9, 2015 TransAtlantic

Content • 2014 Turnaround • TransAtlantic 2015 Focused Actions • 31