Institutional Presentation September 2016
This information is property of Wilson Sons and can not be used or reproduced without written permission Wilson Sons at a Glance Shareholding structure Group overview � One of the largest port, maritime and logistics operators in Brazil; � 179 years of experience highlights Wilson Sons’ solid operational Ocean Wilsons know how, reputation and credibility; Free Float Holdings Limited 58.25% 41.75% � Integration and multiple synergies among its businesses; � Wilson Sons enjoys an unparalleled geographical reach throughout Brazil; � Leading volume capacity, superior infrastructure and efficiency; Bermuda � Solid customer relationships with a diverse and strong customer Brazil base; � Experienced and innovative management team; PORT & LOGISTICS SERVICES MARITIME SERVICES � High profitability and financial strength. Terminals Logistics Towage Offshore Shipyards Agency Support Vessels 2
This information is property of Wilson Sons and can not be used or reproduced without written permission Wilson Sons at a Glance International & Domestic Trade Flow 76% of Client Exposure Head Office Terminals Oil & Gas Towage 24% of Client Exposure Offshore Logistics Agency * Based on 2015 revenues including JV’s Shipyards 3.1% Weighted Avg. Cost of Debt in 2015 EBITDA* Including Offshore CAGR of 14.3% Support Vessels JV 208.5 Others; 22% 121.4 2015 47.9 FMM*; 78% 2010 2004 * FMM = Merchant Marine Fund * Including Offshore (Fundo da Marinha Mercante) Support Vessels JV 3
Trade of Container Drivers
This information is property of Wilson Sons and can not be used or reproduced without written permission The Brazilian Trading and Port Activities Superior Growth of Container Handling Volumes Total Port Handling Volume (million tons) Source: ANTAQ Solid Bulk Liquid Bulk Container General Cargo CAGR 02-15 1,008 969 4,1% 49 929 46 903 885 8,4% 44 100 +5,1% 45 834 101 46 97 87 44 768 755 84 733 2,6% 75 39 226 693 35 37 232 650 73 68 219 38 621 65 217 212 38 63 571 210 34 55 529 50 196 31 195 198 42 29 176 35 164 167 162 163 5,9% 633 590 569 554 543 505 457 460 433 416 393 370 336 302 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 5
This information is property of Wilson Sons and can not be used or reproduced without written permission Brazilian Container Terminal Market After Challenging Economic Periods, Container Volume Demonstrated Rapid Growth Total Container Volume and GDP Growth (mTEU; %) Source: Datamar; Brazilian Central Bank; IBGE Container Volume GDP Real Growth 7.5% 6.1% 5.8% 5.1% 4.4% 4.0% 3.9% 3.4% 3.2% 3.1% 3.0% 1.9% 1.4% 1.1% 0.5% 0.3% 0.1% (0.1%) (3.9%) Crisis Steady Growth (1.6%) CAGR: 6.0% Fast Recovery CAGR: 13.6% Global Crisis (10.9%) 9.4 9.3 9.2 Fast Containerization 8.6 CAGR: 14.6% 7.9 7.4 6.9 6.6 Privatization 6.1 6.1 CAGR: 29.6% 5.7 4.5 3.8 3.1 2.5 2.4 1.5 1.1 0.8 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 FHC’s 1 st Mandate FHC’s 2 nd Mandate Lula’s 1 st and 2 nd Mandates Dilma’s 1 st Mandate Dilma’s 2 nd Mandate 6
Brazilian Container Terminal Market Strong Drivers Supporting Enormous Growth Potential Container Density (TEU per '000 people) Relevant Containerization Potential Source: World Bank (as of 2014) Containerization Potential (mTEU) Source: ILOS; BNDES; Wilson Sons’ analysis (estimated) Netherlands 742 South Korea 472 + 0.9 - 1.2 Australia 321 Spain 316 High Income Countries 279 10.2 - 10.5 9.3 Germany 243 Chile 211 Japan 163 Actual Containerization Potential United States 146 Throughput Potential Throughput United Kingdom 145 China 133 Containerization Potential Breakdown Thailand 122 (% of containerization potential) World Average 94 LatAm & Caribbean 73 Peru 72 Other Colombia 65 10% Emerging Countries 58 Fertilizers Food Grains 15% 35% Brazil 52 Mexico 42 Significant growth potential Argentina 41 20% Sugar Russia 27 20% Steel Products 7
Main Brazilian Container Ports Although market contracted due to economic scenario individual ports have grown Total containers handled by port, excluding shifting (kTEU) Source: Datamar 2014 2015 Pecém + FOR 3,686 Santos + SSO +2% 3,774 Suape + REC 1,086 Itajaí + NVT -9% 984 Manaus 760 Paranaguá +2% 776 Santos + 679 Salvador Rio Grande SSO +7% 726 Vitória 558 Itapoá + SFS +8% Paranaguá 602 Brazil: -2.1% Rio + IGI 685 Rio + IGI -15% 581 Itapoá + SFS 630 Manaus -12% 554 Itajaí + NVT 428 Suape + REC -4% Imbituba 409 Rio Grande 284 Salvador +1% 287 284 Pecém + FOR -10% 256 2015 North Northeast Southeast South 226 Vitória -22% 177 % of Population 8% 28% 42% 14% 42 % of GDP 5% 14% 55% 16% Imbituba -28% 30 % Volume of 8% 11% 48% 33% Container (TEU) 8
Oil & Gas Drivers
This information is property of Wilson Sons and can not be used or reproduced without written permission Oil & Gas Industry in Brazil Brazilian Pre-Salt Oil Production (k bpd) Source: Petrobras 767 Pre-salt fields already contribute close to 36% of total oil production in 2015 for Brazil 492 302 169 119 41 15 3 2008 2009 2010 2011 2012 2013 2014 2015 10
This information is property of Wilson Sons and can not be used or reproduced without written permission Oil & Gas Industry in Brazil Cumulative global deepwater resources discovered Source: IHS Global Deepwater and Growth Play Service (2015) 11
This information is property of Wilson Sons and can not be used or reproduced without written permission Oil & Gas Industry in Brazil Platform Support Vessels (PSVs) in Brazil Source: ABEAM 128 National flag Foreign flag 108 106 104 101 99 94 88 87 75 68 63 55 32 2010 2011 2012 2013 2014 2015 Jul/2016 12
Our Business
This information is property of Wilson Sons and can not be used or reproduced without written permission Container Terminals US$ 153M 1,035.2 1,780,000 Net Revenues TEU handled TEU capacity (30% of 2015 Total Revenues) (2015 Tecon RG + Tecon SSA) (Tecon RG + Tecon SSA) Rio Grande do Sul Tecon Rio Grande 14
Tecon Rio Grande at a glance Container Volume, by Destination: 2015¹ (% of TEU) Regular Shipping Line Services, by Destination Source: Datamar (Jun/2016) Source: Datamar Others 10% East Coast / North America Far East NEUR 8% 28% 2L ECNA 2L MED 1L FEAS M. Gulf / Caribbean 14% 3L USGC 1L ECSA 4L WCSA 1L 20% 20% Mediterranean North Europe Container Volume, by Shipping Line: 2015¹ (% of TEU) Container Volume, by Top Cargoes: 2015 (% of TEU) Source: Datamar Source: Wilson Sons Resins Others 12% 13% Hapag-Lloyd 22% Tobacco 9% CMA CGM 8% 47% Others 8% Rice 16% 6% Maersk Line Frozen chicken 21% MSC 4% Chemicals 4% 3% Parts & Pieces 3% 2% 3% 19% Cellulose Hamburg Süd Fresh Fruits Machines Food Note¹: Considers only long-haul shipping and full containers loaded 15
This information is property of Wilson Sons and can not be used or reproduced without written permission Container Terminals Bahia Tecon Salvador 16
Tecon Salvador at a glance Container Volume, by Destination: 2015¹ (% of TEU) Regular Shipping Line Services, by Destination Source: Datamar (Jun/2016) Source: Datamar Others 9% North Europe NEUR East Coast / North America 28% 1L 12% ECNA 2L MED 1L USGC 2L 15% Far East ECSA 2L 18% Mediterranean 18% M. Gulf / Caribbean Container Volume, by Top Cargoes: 2015 (% of TEU) Container Volume, by Shipping Line: 2015¹ (% of TEU) Source: Wilson Sons Source: Datamar Cellulose & Paper Others 11% 6% CMA CGM Polymers 9% 11% Others 36% MSC 34% Hapag-Lloyd 9% Chemical & 11% Petrochemical 12% Maersk Line 5% 3% Ores 5% Fruits 4% Steel & Metallurgy 4% 5% Tires 4% 29% Rice Parts & Equipment Hamburg Süd Undefined Products Note¹: Considers only long-haul shipping and full containers loaded 17
This information is property of Wilson Sons and can not be used or reproduced without written permission Towage US$ 214M 75 58,620 63.4 Net Revenues Operational Fleet Manoeuvres Avg. Dwgt Attended (42% of 2015 Total Revenues) (As of Dec 15) (2015) (2015) Phoenix – Feb 13 18
This information is property of Wilson Sons and can not be used or reproduced without written permission Towage • Largest fleet in Brazil, approx. 50% share of harbour manoeuvres, operating in all major ports of Brazil • Policy priority to Brazilian flag vessels • Long-term and low-cost funding available from the FMM (Fundo da Marinha Mercante) Tugboats Throughout Brazilian Ports Brazilian Towage Market As of December/2015 Principal Players 75 44 Fleet North 30 8 tugboats 20 12 Average Age Northeast 8 28 tugboats 12 17 Average Power 52.5 Southeast 51.5 26 tugboats 48.8 South 39.8 13 tugboats WS # Ports Attended 30 Competidor (1) 13 Competidor (2) Competidor (3) 4 8 19
This information is property of Wilson Sons and can not be used or reproduced without written permission Offshore Support Vessels US$ 71M 21 PSVs US$ 23,582 6,585 Net Revenues Operational Fleet Average Gross Daily Rate Days in Operation (2015) (As of June 16) (As of Apr 16) (Own Vessels 2015) PSV Alcatraz – Apr/14 20
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