Disclaimer This presentation should be read in conjunction with STX - - PowerPoint PPT Presentation

This presentation should be read in conjunction with STX OSV Holdings Limited’s results for the period ended 31 December 2010 as stated in the Statutory Financial Reports. Financial figures are presented according to SFRS. This presentation may contain forward-looking statements that involve risks and

• uncertainties. Such forward-looking statements and financial information involve known

and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements and financial information. Such forward-looking statements and financial information are based on numerous assumptions regarding our present and future business strategies and the environment in which we will operate in the future. As these statements and financial information reflect our current views concerning future events, these statements and financial information necessarily involve risks, uncertainties and assumptions. Actual future performance could differ materially from these forward-looking statements and financial information. You are cautioned not to place undue reliance on these forward looking statements, which are based on the Company’s current view of future events.

Disclaimer

27.04.2011 | Page 2

STX OSV Holdings Limited

Annual General Meeting

27 April 2011

• One of the major global designers

and shipbuilders of Offshore & Specialized Vessels

• Headquartered in Norway
• Approx. 9,000 employees
• Delivered more than 200 vessels

since 2000

• One of few high-end OSV ship-

builders with in-house vessel design capabilities

• Listed on the Main Board of

Singapore Exchange (SGX) on 12 November 2010

About STX OSV

27.04.2011 | Page 4

• Approx. 9,000 employees in 6 countries

Norway

• Head office

5 shipyards:

• Aukra
• Brattvaag
• Brevik
• Langsten
• Søviknes

Additional operations:

• Design
• Electro
• Trading
• Piping
• Accommodation

Brazil 2 shipyards (1 operational):

• Niterói
• Suape (under construction)

Additional operations:

• Electro

Romania 2 shipyards:

• Braila
• Tulcea

Additional operations:

• Electro
• Piping

Vietnam 1 shipyard:

• Vung Tau

Singapore

• Registered
• ffice
• Sales office

India

• Electro

27.04.2011 | Page 5

27.04.2011 | Page 6

Core products

Platform Supply Vessels (PSV) Offshore Subsea Construction Vessels (OSCV) Other specialized vessels Anchor Handling Tug Supply (AHTS) Vessels

Ship design

Products & services

27.04.2011 | Page 7

Electrical engineering, power&automation Piping Accommodation Trading – design & equipment packages

Offshore Subsea Construction Vessel

Built by: STX OSV Søviknes Owner: DOFCON Yard no.: 705 Delivery: January 2010 Design: OSCV 06 L

156.90 m 137.70 m 27.00 m 12.00 m 8.50 m 18 knots Length overall Length between p.p. Breadth moulded Depth main deck

• Max. scantling draught

Speed at draft 5.5 m Main particulars:

Skandi Aker – Ship of the Year 2010

27.04.2011 | Page 8

Business update

27.04.2011 | Page 9

• Generally good project execution

Strengthened integration in the value chain Romania – Norway; good collaboration on design, engineering and production Successful training programs and development of the organization in Vietnam New levels of technological complexity successfully mastered in Brazil Good quality and timely deliveries from suppliers

• High rate of on-time deliveries

More than 95% of vessels delivered without penalties Several vessels delivered before contractually agreed delivery date

• Positive trend in key HSE (Health, Safety, Environment)

indicators

Strong operational performance in 2010

27.04.2011 | Page 10

Order book development

27.04.2011 | Page 11 2007 2008 2009 2010

2007 2008 2009 2010

Order book (NOK million) Order intake (NOK million) Order book as of 31 March 2011 (# of vessels)

27,363 22,389 16,411 15,461 5,692 4,458 28 Vessels 4 Vessels 8 Vessels 17,031 27 Vessels 12,555

21 6 8 19 21 6 10 20 30 2010 2011 2012 2013 2014-16 8 orders for LPG carriers to be constructed at new yard in Brazil – not yet effective delivered + Contracts for 3 vessels announced on 8 April 2011

Order book by region and vessel type – 1Q 2011

27.04.2011 | Page 12

By Region Order book 31 Dec. 2010 Deliveries 1Q 2011 Order intake 1Q 2011 Order book 31 Mar. 2011 Norway / Romania 34 4 3 33 Brazil 9 1

• 8

Vietnam 6 1

• 5

Total 49 6 3 46 By Vessel Type Order book 31 Dec. 2010 Deliveries 1Q 2011 Order intake 1Q 2011 Order book 31 Mar. 2011 AHTS 12 2

• 10

PSV 26 2 3 27 OSCV 4 2

• 2

Other 7

• 7

Total 49 6 3 46

Full control of Vietnam subsidiary acquired in 4Q 2010

• Yard capacity about 7000-10,000 tons steel weight per year
• 650 employees
• Hull production and outfitting capacity about 3-4 vessels per year
• Acquisition of

remaining 30% shares in STX OSV Singapore Pte. Ltd gives STX OSV full control over Vietnam yard

• S$ 6.6 million use
• f proceeds from

the IPO

27.04.2011 | Page 13

• New shipyard development at Suape, Pernambuco, Brazil
• Planning and permitting process in progress
• Environmental license for construction of the new shipyard was

granted on 30 March 2011

• Shipyard construction is expected to start within 2Q 2011

Construction of the first vessels estimated to start in 2012 Full operations of the new shipyard scheduled for 2013

• Contracts with Transpetro for construction of 8 LPG carriers to be

made effective following approvals from Brazil’s Merchant Marine Fund (FMM)

Development of Brazil new yard project on track

27.04.2011 | Page 14

Existing yard in Niterói, Rio de Janeiro

• 65,000 m2 effective area
• ~6000 t/year steel processing capacity
• 210 m quay length

27.04.2011 | Page 15

New yard at Suape, Pernambuco (illustration)

• 250,000 m2 total area
• 26,000 m2 covered area
• 20,000 t/year steel processing capacity
• 300 m quay length

Note: Preliminary yard layout and specifications

27.04.2011 | Page 16

Financial highlights

FY 2010

27.04.2011 | Page 17

Much improved margins on stable revenues

4 458 12 555 2 000 4 000 6 000 8 000 10 000 12 000 14 000 FY 2009 FY 2010

EBITDA (NOK million) and EBITDA Margin (%) Order Intake (NOK million)

11 895 11 881 2 000 4 000 6 000 8 000 10 000 12 000 14 000 FY 2009 FY 2010

Revenues (NOK million)

648 1 330 5,4 % 11,2 % 0% 2% 4% 6% 8% 10% 12% 14% 200 400 600 800 1 000 1 200 1 400 FY 2009 FY 2010 27.04.2011 | Page 18

Cash and cash equivalents, and construction loans

1 267 2 551 126 300

500 1 000 1 500 2 000 2 500 3 000 FY 2009 FY 2010 Restricted Cash Non-restricted Cash

(1) Cash and cash equivalents less sum of short-term and long-term interest bearing liabilities, excluding construction financing

Construction Loans (NOK million)

6 102 4 398 2 000 4 000 6 000 8 000 FY 2009 FY 2010

Net Cash (NOK million)1

987 2 541 500 1 000 1 500 2 000 2 500 3 000 FY 2009 FY 2010

Cash and Cash E quivalents (NOK million)

1 393 2 851

27.04.2011 | Page 19

Outlook

27.04.2011 | Page 20

• STX OSV has experienced a significant order intake in 2010 despite a

difficult market environment

• In line with industry expectations for utilization and day rates for PSVs

and AHTS vessels to pick up in 2012, we expect new order momentum to accelerate towards the second half of 2011

• Demand for OSCVs is also likely to improve through 2011 and accelerate

in 2012-13

• The shift towards deeper water exploration and operations in harsh

environments will continue to drive order momentum for advanced vessels

• STX OSV is believed to be fundamentally well-positioned to seize
• pportunities when the market picks up, and reinforce its market position

Outlook

27.04.2011 | Page 21

Thank you for your attention