Institutional Presentation 2011 Wilson, Sons is listed on the - PowerPoint PPT Presentation

Institutional Presentation 2011

Wilson, Sons is listed on the BM&F Bovespa in the form of BDRs BERMUDA BRAZIL PORT & LOGISTICS MARITIME 2

Wilson, Sons at a glance Drivers Major Clients (% of 2010 Total Revenues) PORT & LOGISTICS International Trade Flow 57% of 2010 Revenues 51% Oil & Gas 28% MARITIME 43% of 2010 Revenues Domestic Economy 21% 3

OUTLOOK: OUR DRIVERS

Trade Flow: BRIC’s economies are the biggest drivers of global demand BRAZILIAN TRADE FLOW HIGHLIGHTS GROSS DOMESTIC PRODUCT (USD Tri) Source: Source: Goldman Sachs 2010 2020 … 2050 3 rd biggest Agricultural Exporter BRIC 8.6 20.3 128.3 9,148 km of Coast G7 30.4 36.8 66.0 Investments in Waterways by 2025 will reach 29% of Government Transportation Expenditures NEW PORTS CREATE EXCELLENT OPPORTUNITIES INCREASING CNTR HANDLING IN BRAZIL (# TEU M) Source: Wilson, Sons Source: PGO - ANTAQ 20.0 CAGR: 8.9% • Refinery Premium I(MA) • Terminal Ponta da Madeira (MA) 12.1 • Refinery Premium II (CE) 2023 • Refinery Abreu e Lima (PE) 7.2 • Porto Sul (BA) • Porto do Açu (RJ) 2017 • Embraport (SP) • Brasil Terminais Portuários (SP) 2011 • Itapoá (SC) Historical CAGR of 18%. 5

Oil & Gas: Very positive outlook for our business PRE-SALT HIGHLIGHTS BRAZILIAN OIL RESERVES Source: Petrobras + OSX Source: Petrobras Shallow water stage Deep water stage Pre-salt 120,000 km 2 (46,000 sq miles) Total Pre-salt Area Proven Reserves Forecast Billion barrels of oil equivalent 30 70 billion BOE (barrels of oil equivalent) 20 Pre-salt Estimated Resources 10 300 km (180 miles) 0 Distance from the coast to Pre-salt Oil Rigs 1978 1980 1984 1990 1996 2000 2002 2006 2015E Shallow Water Stage Deep Water Stage Pre-salt DRILLING + PRODUCTION UNITS OSVs Demand Source: Petrobras + OGX + IOCs estimates Source: Petrobras + OGX + Company estimates 553 17 32 OGX 267 6 OGX IOCs 504 7 IOCs Petrobras Petrobras 254 2009 2020 6

Domestic Economy: Brazil’s economy expands BRAZILIAN ECONOMY HIGHLIGHTS STRONGER INDUSTRY: CAPEX PLANS INCREASING Source: BNDES & Brazilian Treasury Source: BNDES 2006-2009 (USD B) 2011-2014 (USD B) 7 th World Economy in 2010 Oil & Gas Steel & Mining Chemical Pulp & Paper based on GDP Reduced sovereign risk profile BBB- (S&P); BBB (Fitch); Baa3 (Moody’s) 5.8% average GDP growth 117 216 50 54 13 23 10 16 until 2015 CONSUMER INFLATION INDEX (IPCA) GOVERNMENT ACTIONS TO FIGHT INFLATION Source: Central Bank Source: Central Bank Reducing BRL 50 Billion of government spending TARGET % Increasing Brazilian interest rates Central Bank’s inflation target: 4.5% 7

PORT & LOGISTICS

Port Terminals Key Assets with Strategic Advantages • Container terminals concessions for 25 + 25 years in the ports of Rio Grande and Salvador • Third largest container operator in Brazil • Operates Oil & Gas terminals through Brasco, combining own assets and expertise in public ports OPERATIONAL INDICATORS (TEUs ‘000) CONTAINER MOVEMENT ESTIMATES (TEUs ‘000) (Wilson, Sons Tecon Rio Grande & Tecon Salvador) (Source: PGO-ANTAQ, sum of estimates for the Ports of Rio Grande and Salvador) 929 2,465 888 CAGR: 8.1% CAGR: 7.6% 1,593 776 2010 2023 1,000 426 2009 2017 2003 2000 2011 MAIN CARGOES TECON RG TECON SSA BRASCO MAIN SERVICES Frozen Chemical Chicken Products Waste Warehousing Management General Rice Cargo Container Transportation Rental Tobacco Metals 9

Logistics Capacity, Intelligence, and Technical Know-How • Customized logistics projects based on customer needs and opportunities • Bonded warehousing concession providing operational support to international trade flow • Business grew more than industry since its inception 2010 NET REVENUES (USD M) NEW LOGISTICS OPERATIONS Cumulative Contribution by Service 120% 1 • Location: Ouro Branco/MG 100% 9 94% • Contract: 3 years 100% 8 82% 7 80% 59.5 6 • Location: Catalão/GO and Cubatão/GO 58% 60% 5 • Contract: 5 years 4 40% 24.5 3 • Location: Três Lagoas/MG 2 12.7 20% 5.8 1 • Contract: 6 years 0% 0 In-house Operations Transportation EADI NVOCC FOCUS ON STRATEGIC INDUSTRIES Oil & Pulp & Gas Paper Pharmaceutical & Steel & Cosmetics Mining Chemical & Petrochemical 10

MARITIME

Towage Unrivalled Market Leader • Largest fleet in South America, 72 tugboats, 50% market share, operating in all major ports of Brazil • Regulatory protection ensures priority to Brazilian flag vessels • Friendly funding available from FMM (Fundo da Marinha Mercante) – Long-term, Low-cost SPECIAL OPERATIONS OPPORTUNITIES SUPPORT TO FPSO OCEAN TOWAGE SALVAGE LNG OPERATIONS SUPPORT TO FPSO SPECIAL OPERATIONS (% of Total Towage Revenues) 15.6% 14.3% 9.1% 7.6% 2007 2008 2009 2010 12 12

Offshore JV Capturing Growth • Regulatory protection ensures priority to Brazilian flag vessels • Friendly funding available from FMM (Fundo da Marinha Mercante) – Long-term, Low-cost • Wilson, Sons 100%-owned shipyard is a key competitive advantage INCREASING # OF BRAZILIAN-FLAGGED VESSELS (Source: Abeam) 43% 51% 2010 2015E OSV FLEET DEVELOPMENT PLAN (Source: Wilson, Sons) 24* 57% 49% 14 12 2015 10 2012 7 2011 2010 2009 *Number of vessels under financing contracts with BNDES as agent for the FMM. 13

Shipyard Increasing Capacity • Providing great competitive advantage to the Company’s Towage and Offshore businesses • Friendly funding available from FMM (Fundo da Marinha Mercante) – Long-term, Low-cost • Construction plan for 23 vessels (14 OSVs + 9 Tugboats) by 2015 2 NEW SHIPYARD FACILITIES GUARUJÁ II (SP) RIO GRANDE (RS) Area: 17,000 sqm Area: 120,000 sqm Capex: USD 40 M Capex: USD 140 M Steel processing capacity: 4,000 Steel processing capacity : 13,000 tons/year tons/year BRAZILIAN NAVAL CONSTRUCTION OPPORTUNITIES (Source: CESPEG) Brazilian shipbuilding Avg. OSVs demand per year Avg. OSVs demand between capacity of OSVs (per year) between 2011 - 2020 (Petrobras) 2011-2020 (Total) 45 IOCs 5 24 OGX OSVs Demand 15 > 25 Shipyards Capacity 21 PETR 13 25 # OSVs # OSVs Actual Future* (~ 2015) (Yearly Demand) (Yearly Demand) 14

Shipping Agency Strategic Synergy with our other Businesses • Independent Shipping Agency operating in all major ports of Brazil • Low capital investment and high return on equity • Specialized services for liner, tramp, and offshore vessels UPSIDE EXISTS FOR THE BRAZILIAN PARTICIPATION IN INTERNATIONAL TRADE FLOW Source: World Bank 15 15

FINANCIAL HIGHLIGHTS

Resilience and growth among all of our businesses CONSOLIDATED NET REVENUES (USD M) REVENUES BY BUSINESS (USD M) CAGR: 15% 228.0 2009 575.6 2010 498.3 477.9 175.4 156.0 145.7 404.0 331.1 102.4 285.2 75.8 43.3 38.1 28.0 27.4 17.6 15.2 0.2 0.2 Port Towage Offshore Shipyard Shipping Logistics Corporate 2005 2006 2007 2008 2009 2010 Terminals Agency CONSOLIDATED EBITDA (USD M) EBITDA BY BUSINESS (USD M) CAGR: 24% 2009 128.4 76.3 122.7 121.4 61.3 2010 58.3 53.4 91.1 19.2 76.2 13.1 13.1 9.9 7.1 6.1 2.3 0.8 42.1 -29.7 -41.5 Port Towage Offshore Shipyard Shipping Logistics Corporate Terminals Agency 2005 2006 2007 2008 2009 2010 17

Consistent investment and low leverage ratios CAPEX LEVERAGE INDICATORS (USD M) (USD M as of Dec/10) Net Debt / EBITDA = 1.4 166.7 149.6 - 154.9 99.2 93.5 325.3 42.2 36.2 170.4 Total Debt Cash and Equivalents Net Debt 2005 2006 2007 2008 2009 2010 DEBT SOURCE PROFILE DEBT CURRENCY PROFILE (as of Dec/10) (as of Dec/10) USD BRL FMM Others 15% 24% 76% 85% 18

Corporate Governance at a glance Voluntarily follow the majority of BOVESPA’s NOVO MERCADO rules: 100% TAG ALONG for all minority shareholders One class of Share with equal voting rights Board of Directors with 20% of independent members Free-float more than 25% of total capital Audit Committee Arbitrage held in the London Court of Arbitrage Management alignment with shareholders: •Cash -settled stock options for top management •Remuneration program for management and employees based on EVA, EBITDA, and individual performance 19