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Advisory Introductory presentation Strictly Private and Confidential August 2018 National Shipping Company Kazmortransflot LLP Introductory presentation August 2018 Content Company at a glance Company Overview Content Company at a
Strictly Private and Confidential August 2018
Advisory
August 2018
August 2018 Company at a glance 3 Company Overview 7 1 General Information of the Company 8 2 Operating and commercial Analysis 18 3 Financial Analysis 23 4 Organizational Structure 26
2 Introductory presentation
Company Overview Company at a glance Content
August 2018
3 Introductory presentation
Company Overview Company at a glance Content
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National Shipping Company Kazmortransflot LLP was established and registered on December 29, 1998. The Company was established with the purpose of forming the national marine fleet of the Republic of Kazakhstan and organization of sea transportation of domestic cargoes on its own. The main activities
region, in the Open seas*, transportation of dry cargoes, and provision of services to the service fleet Fleet The Company's own fleet consists of eight oil tankers (of which two AFRAMAX tankers) and auxiliary vessels, including four tugboats and eight platform barges. Key Customers The Company signed contacts with such huge companies as JSC NC KazMunayGas, Tengizchevroil LLP, Belvion Group Ltd and SOCAR Logistics DMCC.
Tons Total Fleet Tonnage
Own fleet units
Aframax Tankers
years Average residual fleet useful life
Business Geography
Source: Company data
* the maritime space located outside the territorial sea, which is not subject to the sovereignty of any state, in the case of the Company it is the Black and the Mediterranean Sea
Company Overview Company at a glance Content
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Source: Company data
# Contract Subject Customer Fleet Contract terms Volumes Direction 1 Oil Transportation Services KMG International N.V. AFRAMAX: Alatau and Altai 01.01.2018 - 31.12.2018 5.1 mln. tons per year Black and Mediterranean Seas 2 Oil Transportation Services Belvion Group Ltd Aktau, Abai, Kazakhstan 01.01.2018-31.12.2018 (annual re-signing) 2 million tons / year Caspian Sea 3 Oil Transportation Services* KMG International N.V. AFRAMAX: Alatau and Altai 10 years (01.01.2019 - 31.12.2029) Under negotiation Black and Mediterranean Seas # Contract Subject Customer Fleet Contract terms 1 Time charter Alatau Maritime Ltd Abai, Kazakhstan till 31.12.2018 2 Bareboat Charter SOCAR Logistics DMCC 5 oil tankers: Astana, Oral, Aktobe, Atyrau, Almaty 3 years (01.03.2018- 01.03.2021) 3 Bareboat Charter Turkmenistan Branch of GAB Insaat Yatirim ve Dis Ticaret A.S. KMG-101 till September 2018 KMG-104 till September 2018 KMG-105 till September 2018
The company holds a lease on two tankers, Abai and Kazakhstan, from Alatau Maritime Ltd, the lease contracts is for 12 months until December 31, 2018. KMTF also leases a few of its own tankers and barges, below is information on the main current lease contracts.
*The contract is currently in the process of negotiation Source: Company data
Current contracts for oil transportation services Other contracts
Company Overview Company at a glance Content
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Participant
the Future Expansion Project Tengizchevroil LLP Availability of long-term contracts
10-year contract for transportation of crude oil
Broad experience in the maritime transportation market
Transportation of a significant amount of goods of the Republic of Kazakhstan in the course of international trade
4-year contract for the transportation of modules
Own fleet
The minimum amount of CAPEX and lease payments
Company Overview Company at a glance Content
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Company Overview Company at a glance Content
August 2018
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1 General Information of the Company Company Overview Company at a glance Content
August 2018
National Shipping Company Kazmortransflot LLP was created by Government Resolution № 1239 dated 4 December 1998 to form the national commercial shipping fleet and organize international cargo carriage by sea for domestic cargo. The Company's mission is to provide safe, reliable and cost-effective shipping in the Caspian Sea and on other open seas. The sole shareholder of National Shipping Company Kazmortransflot LLP is JSC National Company KazMunayGas . The Controlling shareholder
National Welfare Fund Samruk-Kazyna. KMTF core services include the transportation of dry cargo, Kazakhstan crude oil by sea from Aktau Port to international markets, crude oil in the Black and Mediterranean Seas, and fleet support services. Its fleet consists of eight oil tankers and a number of auxiliary vessels, including five tugs and eight platform barges. The total fleet equals 21 with a total carrying weigh of 308 thousand tones. Key directions for KMTF's strategic development are:
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1 General Information of the Company
Geography of the Business
Source: Company data
Company Overview Company at a glance Content
August 2018
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1 General Information of the Company
Year Main events Number of Fleet 1998 National Shipping Company Kazmortransflot LLP was created by Government Resolution № 1239 dated 4 December 1998 with 100% state shareholder. Transfer of oil port berths to the Aktau port Operations on 8 tankers 2003 Construction of marine operations support base. The first KMTF-1 tugboat 1 2004 First barges KMG-101 and KMG-102 3 2005 Purchase of tugboats Yesil, Tobol and barge. The first tanker Astana DWT 12000 7 2007 Launch of the development program for Kazakhstani personnel for the tanker fleet and navy support fleet Certification ISO 9001, ISO14001, OHSAS 18001, SAI GLOBAL IQNet. Purchase of tugbats Irtish and MB Ural 14 2008 Purchase of tugbats Irtish and MB Ural 14 2009 Began to operate a service fleet (to support drilling on offshore blocks) Implementation of a safety management system. The arrival of the Atyrau tanker, DWT 13,000 16 2010 Own technical management Arrival of tankers Aktobe and Oral 17 2011 Purchase of two tankers Aframax type with deadweight 115 thous. tones Began to operate dry cargo vessels Assignment of the National Maritime Carrier status 19 2013 Assignment of the National Maritime Carrier status 21 2015 Order of the Head of state to create the ferry fleet of the Republic of Kazakhstan OCIMF (Oil Companies International Marine Forum) certification of the tankers 21 2017 Member of the Future expansion project (Tengizchevroil LLP) 26
Source: Company data
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ASSETS DISCRIPTION Deadweight, thousand tones Commercial Fleet 6 oil tankers: Astana, Almaty, Aktau, Atyrau, Aktobe and Oral 12-13 2 AFRAMAX oil tankers - Alatau and Altai 115-116 Fleet for support of marine
4 long-haul tugs: Yesil, Tobol, Ural and Irtysh 3,3 8 KMG platform barges 3,6 Future expansion project 3 tugboats and 3 platform barges MCV 3 Infrastructure facilities KMTF's administrative building (office) in Aktau n/a Production facilities KMTF has use of the Ainazar rock pit n/a Non-production assets Nurtau motor yacht and others n/a
Source: Company data
Company Overview Company at a glance Content
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1 General Information of the Company
Fleet of open seas The Company owns two large Aframax tankers - Altai and Alatau, with a deadweight of 115 thousand tones each. The tankers are used to transport crude oil and petroleum products in the Black and Mediterranean Seas. The tankers stand under LR2 classification (Large Range 2). The table below shows the main technical characteristics of KMTF's Aframax tankers.
Source: Company data
Index Alatau Altai Year of issue 2009 2011 Length, m 243 243 Width, m 41.5 41.5 Hull height, m 21 21 Draft, m 12.5 12.5 Speed, knots 15 15 Deadweight, tones 115,860 115,952 Engine capacity, kW 13,560 13,560 Engine life, hours 50,000 50,000 Engine service life until major overhaul 25 years 25 years Average operating life 4,300 hours/year 4,300 hours/year Country of origin South Korea South Korea
Tanker Alatau Tanker Altai Technical characteristics of the AFRAMAX oil tankers
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1 General Information of the Company Index Astana, Almaty, Aktau Atyrau, Aktobe, Oral Year of manufacture 2005/2006 2009/2010 Length, m 149.35 150.15 Width, m 17.3 17.3 Hull height, m 10.1 10.5 Draft, m 7.0 6.97 Speed, knots 10 10 Deadweight, tones 12,360 13,030 Engine capacity, kW 2,300 3,240 Engine life, hours 50,000 50,000 Engine service life until major overhaul 15 years 15 years Average operating life 3,012 hours/year 3,756 hours/year Country of origin Russia Russia
Source: Company data
Caspian Sea Fleet All 6 oil tankers are used to transport crude oil and petroleum products in the Caspian Sea. The Astana, Almaty and Aktau oil tankers transport crude oil and petroleum products via the Caspian Sea and were built by the Vyborg Shipbuilding Plant according to Vympel plans. The Atyrau, Aktobe and Oral oil tankers were built by the Krasnoye Sormovo Plant Astana Almaty Aktau Atyrau Oral Aktobe Technical characteristics of oil tankers
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1 General Information of the Company
Fleet for support of marine operations includes four platform barges - Yesil, Tobol, Ural and Irtysh, and eight KMG platform barges. Tugboats and barges are mainly used in the Caspian Sea for towing ships, floating pipelines and dredgers, as well as in various projects for drilling wells, transportation of large-sized loads and rock.
Source: Company data
Index Yesil Tobol Ural Irtysh Year of manufacture 2006 2006 2006 2006 Length, m 23.56 23.56 23.56 23.56 Width, m 7.60 7.60 7.60 7.60 Hull height, m 3.2 3.2 3.2 3.2 Draft, m 2.5 2.5 2.5 2.5 Speed, knots 10 10 10 10 Deadweight, tones 123 123 123 123 Engine capacity, kW 882 882 882 882 Country of origin Vietnam Vietnam Vietnam Vietnam
Technical characteristics of the tugboats Yesil Irtysh Tobol Ural
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1 General Information of the Company
The KMTF platform barges, which are non-propelled and dry cargo vessel, have a loading capacity of 3,600 tones each. Barges KMG-101 and KMG-102 were built by JSC Astrakhan shipbuilding, KMG-103, KMG108 – by Zelenodolsky plant named after. A.M. Gorky. Technical characteristics of platform barges KMG
Index KMG-101, KMG-102 KMG-103, KMG108 Year of manufacture 2004 2005/2006 Length, m 102.3 102.3 Width, m 16.5 16.5 Hull height, m 4.2 4.2 Draft, m 2.99 2.99 Speed, knots n/a n/a Deadweight, tones 3,645 3,567 Engine capacity, kW n/a n/a
Source: Company data
Platform barges KMG
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1 General Information of the Company
Other objects KMTF owns the rights of use of the Ainazar stone deposit, transferred by the Contract for Subsoil Use No. 4 of March 1,
consists of two blocks - a block B with an area of 8 hectares and a block C with an area of 46 hectares. The explored reserves of the deposit comprise 23 million tons of rock with 8 million tons of rock being mined during the entire operation of the deposit. The Company also owns Nurtau motor yacht. The yacht has two engines with a metal casing and a plastic bulkhead, and is used in the Caspian Sea coastal areas. The company owns a shift camp (residential base) in the port of Bautino (Mangistau region). Also, the Company owns an administrative building in Aktau, which is located in the central part of the city. 12 floor building has 342 rooms with total area of c. 11,600 square meters. This building is used as a company office with the uncopied space being leased
to LLP MNK KazMunayTeniz, LLP AktauNefteService, LLP KMG Systems & Services, LLP N Operating Company. In addition, the Company has the right of use for land plots, two
construction and operation of the hangar for the yacht.
Source: Company data
Index Yacht Nurtau Year of manufacture 2006 Length, m 17.87 Width, m 5.40 Hull height, m 2.82 Draft, m 1.44 Engine capacity, kW 2,000 Maximum passenger capacity 10 Country of origin England
Technical characteristics yacht Nurtau Administrative building KMTF
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1 General Information of the Company
Core operating license Currently, the Company conducts its operating activities in accordance with the terms of the licenses specified in the table below. All licenses are termless.
License Issuing body Registration No. Issue date Design and operation of mountain production, petrochemical industries,
Ministry of Energy and Natural Resources of the Republic of Kazakhstan № 17006986 20 April 2017 Passenger and cargo shipping Ministry of Transport and Communications of the Republic of Kazakhstan № 001300 4 August 2006 Dangerous cargo shipping Ministry of Transport and Communications of the Republic of Kazakhstan № 002626 4 August 2006 Operate major gas and oil pipelines Ministry of Energy and Natural Resources of the Republic
№004771 20 January 2006 Architectural, town planning and construction activities Mangistau Oblast Architectural, City Planning and Construction Department №0000359 21 October 2005
Source: Company data
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2 Operating and commercial Analysis Company Overview Company at a glance Content
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2 Operating and commercial Analysis
One of KMTF's core services is oil transportation from the port of Aktau to international markets, sea transportation of crude oil in the Black and Mediterranean seas, transportation of dry cargoes, and provision of services to the service fleet. The key KMTF’s customer is JSC National Company KazMunayGas – leading company on oil market of Kazakhstan. Oil transportation is one of the main services provided by the Company. KMTF, with the support of the parent company JSC National Company KazMunayGas, provides services for tanker transportation of oil in the Caspian Sea and has the ability to deliver oil to the Black and Mediterranean Seas.
Index 2013 2014 2015 2016 2017 Total 8 879 9 606 7 033 7 082 6 951
Caspian Sea 5 114 4 666 2 724 2 875 2 480 Route Aktau-Makhachkala 2 779 2 677 1 115 1 611 662 Route Aktau-Baku 2 335 1 919 915 33 234 Route Turkmenistan-Baku/Makhachkala
694 1072 137 Route to Makhachkala (Y. Korchagin)/Baku
1 447 Open Seas 3 765 4 940 4 308 4 206 4 471 Route to the Black Sea 1 882 3 394 2 175 2 968 3 024 Route to the Mediterranean Sea 1 883 1 546 2 133 1 238 1 447
KMTF’s oil transportation volumes for 2013-2017, thousand tones
Source: Company data
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2 Operating and commercial Analysis
Geography of business Vessel name Current status Vendor Contract terms Contract details
Open Seas Alatau Oil shipping JSC National Company Kazmunaygas 10 years (01.01.2019 - 31.12.2029) Under negotiation Open Seas Altai Oil Shipping JSC National Company Kazmunaygas 10 years (01.01.2019 - 31.12.2029) Caspian Sea Astana In bareboat charter Socar Logistics DMCC 3 years (01.03.2018- 01.03.2021) Part of the crew operates in bareboat charter Caspian Sea Almaty In bareboat charter Socar Logistics DMCC 3 years (01.03.2018- 01.03.2021) Part of the crew operates in bareboat charter Caspian Sea Atyrau In bareboat charter Socar Logistics DMCC 3 years (01.03.2018- 01.03.2021) Part of the crew operates in bareboat charter Caspian Sea Aktobe In bareboat charter Socar Logistics DMCC 3 years (01.03.2018- 01.03.2021) Part of the crew operates in bareboat charter Caspian Sea Oral In bareboat charter Socar Logistics DMCC 3 years (01.03.2018- 01.03.2021) Part of the crew operates in bareboat charter Caspian Sea Aktau Olil shipping Belvion Group Ltd 1 year (01.01.2018- 31.12.2018) 2 million tons / year Caspian Sea Abay* Oil shipping Belvion Group Ltd 1 year (01.01.2018- 31.12.2018) Caspian Sea Kazakhstan* Oil shipping Belvion Group Ltd 1 year (01.01.2018- 31.12.2018)
* Rent fleet Source: Company data
Company Overview Company at a glance Content
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2 Operating and commercial Analysis
Geography of business Vessel name Current status Vendor Contract terms Contract details
Caspian Sea Yesil Inactive
Tobol Inactive
Ural Inactive
Irtysh Inactive
KMG-101 In bareboat charter Turkmenistan Branch of GAB Insaat Yatirim ve Dis Ticaret A.S. till September 2018 Caspian Sea KMG-102 Inactive
KMG-103 Inactive
KMG-104 In bareboat charter Turkmenistan Branch of GAB Insaat Yatirim ve Dis Ticaret A.S. till September 2018 Caspian Sea KMG-105 In bareboat charter Turkmenistan Branch of GAB Insaat Yatirim ve Dis Ticaret A.S. till September 2018 Caspian Sea KMG-106 Inactive
KMG-107 Inactive
KMG-108 Inactive
Source: Company data
Company Overview Company at a glance Content
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2 Operating and commercial Analysis
Geography of business Vessel name Current status Vendor Contract terms Contract details
Caspian Sea 3 self-propelled barges MCV Modules shipping Tengizchevroil till the end of 2020
3 tugboats Modules shipping Tengizchevroil till the end of 2020
Source: Company data
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3 Financial Analysis Company Overview Company at a glance Content
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3 Financial Analysis
Balance Sheet Analysis The analysis below is based on the company’s audited financial statements
December 31, 2013-2017 provided by the Company's management. The Company's auditor is Ernst & Young LLP. Company’s Total Assets on December 31, 2017 amounted to USD 246.9 million, of which 90.5% accounted for non-current assets, the remaining 9.5% - for current assets. Non- current assets are mostly represented by fixed assets (80% of total assets). The company's fixed assets include vehicles, machinery and equipment, buildings, unfinished construction and others. The construction in progress is related to the construction of the Company's office building in Aktau. Key Performance Indicators on 31 December 2013-2017
Source: Company’s Audit report
The Company's loans are related to KMG loan agreements. Contract amount of the USD denominated loans is USD 93 million with an effective rate of 4.46%. Loans were issued to refinance borrowing from ATF Bank, initially obtained to purchase two AFRAMAX tankers, Altai and Alatau. Repayment of the principal amount is carried out by sixteen equal semi-annual installments in the amount of USD 5.8 million each from March 2016 to September, 2023. The interest is paid on a semi-annual basis. Net debt on 31 December 2017 was USD 57 million. Residual value of Company’s Fixed Assets on 31 December 2013-2017
2013 2014 2015 2016 2017 Motor vehicles 196 202 174 209 137 161 130 357 135 208 Construction in progress 4 074 13 543 75 149 57 759 Machinery and equipment 6 724 4 943 2 426 2 259 1 697 Building 407 166 2 458 1 871 1 837 Land 15 13 7 7 7 Other 703 443 330 254 212 208 125 193 316 142 457 134 898 196 720
2013 2014 2015 2016 2017 Fixed Assets 208 125 193 316 142 457 134 898 196 720 Loans received 102 503 95 730 88 065 77 428 67 865 Short-term loans 8 009 2 570 11 644 11 925 14 292 Long-terms loans 94 493 93 160 76 421 65 503 53 573 Net debt 89 099 87 719 81 260 66 579 57 341 Book Value 117 142 109 051 74 015 81 726 80 947 Source: Company’s Audit report
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3 Financial Analysis
Profit and Loss report Analysis In 2017, KMTF generated revenue of USD 69 million, consisted of revenues from crude oil transportation (73%), monitoring and liquidation services (13%), service fleet services (5%) and lease of investment property (1%). The largest part
crude
transportation revenue (61%) came from operations on the Open
(79%), leasing of service fleet and monitoring of liquidation services (17%), simple (3%), maintenance of investment property (1%) and other. The gross margin of the Company for the reporting period was 13%, compared to 21% in 2016, which is due to an increase in the cost of sales for 2017 compared with the indicators for 2016. General and administrative expenses for the periods under review include expenses related to the wages payment and related taxes (67%), travel expenses (7%), rent (5%) and other sources.
Key Performance Indicators 21% 40% 4% 21% 12% 2%
Black Sea Mediterranean Sea Mahachkala-Baku Aktau-Baku Aktau-Mahachkala Turkmenistan-Baku
Revenue of crude oil shipping in 2017, %
2013 2014 2015 2016 2017 Revenue 118 442 114 975 89 033 65 634 69 035 Oil shipping revenue 99 153 105 330 81 110 54 531 50 488 Service fleet support revenue 14 643 8 177 4 927 2 235 3 183 Other 4 646 1 468 2 996 8 868 15 364 Gross Profit 12 563 25 562 21 326 13 856 8 783 Net profit (loss) (4 870) 11 473 5 682 7 228 (757) Net profit margin
11% 6,4% 10%
Source: Company’s Audit report Source: Company’s Audit report
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4 Organizational Structure Company Overview Company at a glance Content
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4 Organizational Structure
KMTF Structure
Alatau Shipping Ltd, Marshall Islands Altai Shipping Ltd, Marshall Islands
Kazmortransflot UK Ltd, London Kazmortransflot Ltd, Isle of Man - offshore 100% 100% 100% 100% 100%
Established: 2010 Purpose of creation: Organization
international shipping of various cargoes in the Caspian and open seas Commercial management
tankers TK Aktau, Altai and Alatau Technical Management Established: 2002 Assets: Tanker Aktau, 2005 Established: 2011 Assets: Tanker Altai, 2011 Established: 2011 Assets: Tanker Alatau, 2009
JSC National Company KazMunayGas National Shipping Company Kazmortransflot
Aktau, Kazakhstan
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Freight forwarders
Vector Energy, Vitol, Chevron Tankers Ltd, ENI, SA, Cotunav, SAMIR, Morgan Stanley, Clearlake, Shipping Pte Ltd, Petraco Oil Company Ltd, Saras SPA, SOCAR и др.
JSC National Company KazMunayGas
Oil transportation Bareboat Charter
Altai Shipping Ltd (Marshall Islands -
Owner of the tanker Alati
National Shipping Kazmortransflot (Aktau, Kazakhstan
support vessels)
Kazmortransflot UK, LLP (London, UK)
Caspian fleet
Kazmortransflot Ltd (Douglas, Isle of Man -
tanker Aktau
services Technical Management Loan payments
Alatau Shipping Ltd (Marshall Islands -
Owner of the tanker Alatau Commercial Management Technical Management
Technical Manager of tankers Alatai and Alatau
Columbia Shipmanagement GMBH Company Overview Company at a glance Content
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4 Organizational Structure
Kazmortransflot Ltd Kazmortransflot Ltd was incorporated on 7 November 2002 on the Isle of Man to handle the financial lease of the Aktau tanker and transport goods by sea. Kazmortransflot Ltd's current
is to transport Kazakhstani oil from the Aktau Port to the Caspian Sea international markets, and transport crude oil via the Black and Mediterranean Seas. It currently transports oil on the open seas under bareboat charter arrangements for the Altai and Alatau tankers with Altai Shipping Ltd and Alatau Shipping Ltd. It also
Aframax tankers mentioned above in the Open seas. Bareboat charter – is in the merchant shipping contract of chartering the ship, according to which the ship
undertakes to provide the charterer for use and possession for a certain period of time not completed by the crew and the unequipped ship. Kazmortransflot UK Ltd Kazmortransflot UK Ltd is based in London and incorporated under UK law. It began operations on 1 January 2009. KMTF purchased a 100% interest in Kazmortransflot UK Ltd in October 2010. The company provides commercial shipping services, such as chartering, broker activities, purchase and sale operations, and also provides consulting services to ship owners in the Caspian and Black Sea regions. It operates as the Company's agent, providing commercial management services for KMTF and its subsidiaries and technical management for the Caspian tanker fleet. Altai Shipping Ltd и Alatau Shipping Ltd Altai Shipping Ltd and Alatau Shipping Ltd were registered on the Marshall Islands in April 2011 within the framework of an investment project to build/purchase two Aframax tankers. On 13 September 2013, the companies entered into a 10-year loan agreement with KMG for USD 94,449 thousand, with effective interest of 4.46% (exclusive of VAT) to refinance a loan from KMTF and ensure full early repayment to ATF Bank under Bank Loan Agreement №K037-2011 dated 23 September 2011.
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4 Organizational Structure
Total staff - 202 empl., as at 30 June, 2018
Sole Shareholder Supervisory Board General Manager Governing Board
General Manager support Department 5 empl. Deputy of General Manager for Safety of Navigation and Fleet Operations 1 empl. Deputy of General Manager for Commercial Issues 1empl. Deputy of General Manager for Finance issues 1 empl. Deputy of General Manager for Business Development 1 empl. Deputy of General Manager for general issues 1 empl. Legal Issues Department 5 empl. Quality and Safety of Navigation Department 9 empl. Marketing and contracts Department 5 empl. Accounting Department 8 empl. Strategic Development Department 5 empl. HR Department 7 empl. EHS Department 3 empl. Fleet Technical Operations Department 9 empl. Commercial Fleet Service 3 empl. Business Planning and Corporate Finance Department 8 empl. Shipbuilding Department 4 empl. IT and document provision Department 8 empl. Environmental Protection Service 2 empl. Administrative Department 10 empl. Navy Support Fleet 81 empl. Purchasing Department 3 empl. Sailors-trainees 73 empl.
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Ormanov Marat General Director Work Experience in marine industry – 21 years , incl. 12 years as General Director of KMTF and 8 years as officer of autonomous submarine Orzhanov Aidar Deputy of General Director for Commercial Issues Work Experience – 17 years, incl. 8 years as General Director of Kazmortransflot UK Ltd Kopbayev Zhaksylyk Deputy of General Director for Safety of Navigation and Fleet Operations Work Experience – 28 years, incl. 16 years in в Wagenborg and 11 years in NAVY Akhmetov Serik Deputy of General Director for Finance Issues Work Experience – 10 years Shmanov Nurtas Chairman of Supervisory Board Work experience in oil industry - 38 years, incl. 8 years as Chairman of the KMTF and KTO Board, 2 years as General Manager of KTO, 15 years in Chevron
Company Overview Company at a glance Content
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This document is an introductory presentation (hereinafter - "Presentation"), which was prepared on the basis of data provided by the management of National Shipping Company KazMorTransFlot LLP (the "Company"), as well as using publicly available information. The presentation is provided to a limited number of parties (hereinafter - "Party" / "Parties") who expressed interest in preparing proposals for the acquisition of the Company's Share (the "Transaction"). The presentation was made solely in order to give these recipients the basis for making a decision regarding the further study of the Transaction. This presentation is not an offer or an offer to purchase, sell, subscribe for shares, or to acquire in any other form rights in respect of shares and all other assets of the Company in any jurisdiction. In a number of jurisdictions, the presentation may be limited to local legislative and regulatory acts. The presentation is not intended to provide individuals and institutions operating in such jurisdictions, as well as for use by such persons and institutions. Any party that received this presentation must be familiar with such restrictions and comply with them. Although the preparation of the information contained in the presentation was carried out with reasonable discretion, neither the Company, nor the Consultants, nor any of their affiliated companies, nor the respective directors, officers, employees and agents make any statements or give warranties, express or implied, with respect to the accuracy, accuracy and completeness of the information contained in this document. The above mentioned persons are also not responsible for the validity of the made assumptions and expressed opinions, as well as for the probability of realization of the forecasts and achievement of the planned profit indicators. The above-mentioned parties unconditionally absolve themselves of any responsibility for any information and opinions of this kind. No provision of this Presentation constitutes an undertaking or statement with respect to any future developments and shall not be deemed to be such. In particular, only applications and guarantees (if any) that have been made against the buyer in the final version
provided for such an agreement.
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Yevgeniy Kogan Manager, M&A Office center AFD Al-Farabi ave, 34, Almaty, Kazakhstan, 050000 T: +7 702 888 0780 E: yevgeniy.kogan@kz.pwc.com Konstantin Yeliseyev Partner, Eurasia Deals leader Office center AFD Al-Farabi ave, 34, Almaty, Kazakhstan, 050000 T: +7 701 745 2005 E: konstantin.yeliseyev@kz.pwc.com Nikolay Efremov Senior Manager, M&A White Square Office Centre Butyrsky Val 10, 125047 Moscow, Russia T: +7 926 851 9829 E: nikolay.efremov@pwc.com Daniyar Baiduisenov Executive director Office center Esentai Towers Al-Farabi ave. 77/7, Almaty, Kazakhstan, 050040 T: +7 777 225 0060 E: baiduisenov@sbinvest.kz