2015 Pareto Oil & Offshore Conference 2 Sep. 2015 - Oslo Norway - - PowerPoint PPT Presentation

2015 Pareto Oil & Offshore Conference – 2 Sep. 2015 - Oslo Norway

Bart Heijermans - CEO

Navigating the crowded high seas

Forward-Looking Statements

This presentation contains certain statements that may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A

• f the Securities Act and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All

statements, other than statements of historical facts, are forward-looking statements. These include statements that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future, general industry conditions, future results of the Company’s operations, capital expenditures, asset sales, expansion and growth opportunities, financing activities, debt repayment and other such matters. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Although the Company believes that its expectations stated in this presentation are based on reasonable assumptions, actual results may differ materially from those expressed or implied in the forward-looking statements. The forward-looking statements are subject to a number of known and unknown risks and uncertainties, including the performance of contracts by suppliers and customers; delays, costs and difficulties related to customer projects; actions by governmental and regulatory authorities; operating hazards and delays; employee management issues; local, national and worldwide economic conditions; uncertainties inherent in the exploration for and development of oil and gas; complexities of global political and economic developments; volatility of oil and gas prices and other risks. Each forward-looking statement speaks only as of the date of this presentation, and the Company undertakes no obligation to publicly update or revise any forward-looking statement.

Navigating the crowded high seas

Navigating the crowded high seas

From last year’s DeepOcean presentation at Pareto Conference…

2015 SAIL AMSTERDAM – SAIL IN

Navigating the high seas

Could have been worse….

2015 SAIL Amsterdam

Brief introduction to DeepOcean – a subsea services company

Navigating the crowded high seas

Survey & Seabed Mapping Seabed Intervention Subsea Installation IMR Decommissioning

Service lines

 A leading provider of integrated subsea services  Focused on the lower risk subsea service niches with inherent day-rate nature of contracts  Revenues predominantly exposed to end-user OPEX budgets  A market leader in diverless subsea IMR in the Greater North Sea  A global leader of trenching services  Recognized global brand for relentless customer focus and operational excellence having operated in the sector since the 1990s

0.92 0.83 0.65 1.08 0.25 2,24 2.09 2.46 2,51 1,49

1 2 3 4 2011 2012 2013 2014 2015 LTIF TRIF

Lagging Indicators YTD (as of 31/07/2015)

Per 1.000.000 hours

Safety

Navigating the crowded high seas

Navigating the crowded high seas

delivery in 2015/2016

Human Resources ROVs / AUVs Trenchers & Ploughs Vessels

personnel / contractors

countries Other Assets

systems (3 off)

Ownership

• f shares

2014 Financials

EBITDA

debt and LR < 0.25

Current Operations

Company Factsheet

Confidential – Not for Public Dissemination

Current Operations and offices

Navigating the crowded high seas

Office locations

Long term ROV operations on:  North Sea Giant (North Sea Shipping)  Normand Ferking (Solstad)  CBO Isabella (CBO)

Subsea weld NDT Scale squeeze

Our Services

Navigating the crowded high seas

Pipeline Validation

IMR

FPSO Thruster Replacement Replacement of flexible risers Diverless Operations

Navigating the crowded high seas

Our Services

Laser and Sonar Survey

Survey Survey of manifold using ROV mounted laser AUV Ops in Brazil

Mattress installation Vietnam

Our Services

Navigating the crowded high seas

XMAS Tree installation on TEN Project in Ghana Installation of turning bollards on Shell Malakai Project

Installation

Installation and burial of ~535km of cables and umbilicals on Snorre PRM Project Cable installation on Valhall Project

Gassco H7 platform removal

Our Services

Navigating the crowded high seas

Removal of Statfjord Loading Buoy

Decommissioning

Navigating the crowded high seas

Offshore Renewables and Interconnectors

Commissioning

IMR

Trenching

Installation Installation of power cable Trenching with PT1 in German market Onshore tests PCP2 Anode installation Annual Survey Havila Phoenix

Navigating the crowded high seas

Framework Agreements in GNS Offshore Renewables and Interconnectors Projects Africa

Foundations

Operations in Mexico & Brazil Largest fleet of cable lay and trenchers Successful start in Ghana IMR, Survey and installation services IMR, survey and installation services

Navigating the crowded high seas

Offshore Renewables and Interconnector cables

Forecasted cumulative fully commissioned

• ffshore capacity NW Europe (GW)

Planned HVCD Interconnectors Route Surveys Cable Burial Cable Installation IMR Our Services

2015 2024 10 GW 35 GW

Germany Netherlands

Navigating the crowded high seas

Most powerful track and buoyant trenchers

Picking the right tool for the job

T3200 UT1  5 off  Pipeline  Cable  7 Off  ROV  Track Ploughs Jet trenchers Mechanical  4 Off  ROV  Track

Navigating the crowded high seas

Cable Installation Vessels

Maersk Connector with 7,000 te. carrousel Maersk Recorder Havila Phoenix Volantis Edda Freya 2,000 te. Carrousel 3,000 e. Carrousel Cable tanks

AUV3000 with HISAS capabilities started operations on Libra project in Brazil Increased number of smart mattress installation frames

AUV Operations

Innovation

Navigating the crowded high seas

Subsea Laser Data Acquisition and 3D visualization Superior Survey ROV Light Completion Intervention System A multipurpose tool for installing, testing and operating subsea equipment such as XT’s, Choke Modules and Manifolds

Optime Subsea Services AS

Installation Survey

Navigating the crowded high seas

DeepOcean

Developments

Industry Industry

 Consolidation  Horizontal AND vertical collaboration  Standardization  Innovation  Cost deflation and change of work practices  Proper risk sharing  Retirement of old vessels and cease building new vessels

What likely will happen….

 Fewer contractors and more lay-offs  Asset transfers from

• verleveraged companies

to stronger companies  More vessels..

• Vessels under construction
• New orders because of

cheap NOK, hungry yards and construction financing

 Horizontal integration  Risk transfer from customers to contractors  Reducing cost  Rebalance asset

• portfolio. Right to release

5 vessels in 2016. Shrink before growth  Continue focus on innovation to increase productivity and lower cost  Secure more work in

• ffshore renewables and

interconnector markets  Grow IMR2 and survey  Identify distressed assets

What should happen..

 Safety of all employees and other stakeholders  Liquidity  Cost deflation  Innovation  Operational excellence  To close contracts with total value in excess of $250 million in 3Q2015

Navigating the crowded high seas

Our focus DeepOcean is well positioned to weather the prolonged downturn due to its (i) client base, (ii) diversification of service offers and end markets and (iii) balance sheet

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Q&A

Navigating the crowded high seas