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1 The IKM Group 2011

2 new opportunities 2010 has now ended and it turned out well, in the end. I would also this year, like to thank our employees for a Like everyone else, we were a little sceptical regarding job well done in My hope is that this can be 2010, but this proved to be unfounded. After a quiet continued in 2011 so that we will have another good period in late winter and early spring orders suddenly year based on the possibilities we now have! started rolling in thereafter, throughout the group. It was especially satisfying that IKM Subsea AS received their I would also like to thank all our clients for the first contracts on the Norwegian shelf last year. It has confidence they have shown in us. In 2010 our turnover been a long road for us to get into the ROV market, but was approx. NOK 2,700 million, a result we should be now we are on the right track and the feedback from satisfied with considering the financial crisis. Our clients our clients, now that they have become familiar with our pay (although some a little late) which must in itself be a ROVs, is very good! stamp of quality and vote of confidence. Very positive! Most satisfying of all was the way we, as an organisation, came through the effects from the financial crisis in We have faced challenges, but they have been resolved in a good way. The ability to tackle adversity is important and we have shown that we can! We actually increased our turnover in 2010, and this was achieved without our friends in the Haaland Group. Excellent! In conclusion, I would like to remind everyone that we are conscious of our HSE philosophy and HSE targets in everything we do. With sick leave under 5 % and one LTA our performance is good, but we still have a way to go. Keep up the good work and have this in the back of your mind, the results will be even better! We are looking forward to 2011 with joy and excitement. It will be a year with lots of opportunities. HSE Policy Zero injuries is our overall objective. We shall instill trust and confidence among our customers and employees. We shall follow acts and regulations, including ethic code of conduct. HSE is the most important internal work area. No operation has priority over safety. HSE is a line responsibility in the entire organisation. Everyone is responsible for their own safety and the safety of others. We shall prevent pollution and reduce negative environmental impact. We shall reduce the amount of waste and optimise the use of resources. We will achieve this through continuous improvement of all processes and systems established in each organisation. Together with our clients and suppliers we shall follow statutory regulations and continually improve our procedures and routines in environmental management. We believe that social commitment will result in savings for our clients, and new business possibilities for the IKM Group. Each IKM company shall establish its own objectives in order to live up to the IKM Group s overall policy.

3 History 1989 Foundation: Instrumentering Kalibrering og Måleteknisk Laboratorium AS (originally Hydrotech Laboratorium AS), renamed to IKM Laboratorium AS 1992 Established: IKM Testing AS 1994 Established: IKM Engineering & Kompetansesenter AS, IKM Mekaniske AS and IKM Kristiansund AS 1995 Acquisitions: Scana Hydrotech AS and Alfred Paulsen Contracting AS 1996 Acquisitions: IKM Engineering AS (Idavoll AS). Established: Dept. in Bergen for IKM Testing AS and IKM Laboratorium AS 1997 Acquisitions: Gjerseth Elektro Contracting AS, Alltex AS (service dept) and Semco Industri AS. Established: IKM Stillas AS 1998 Acquisitions: Kystbasen Vedlikeholds Senter AS and Subsea Design AS. Established: IKM Testing UK Ltd and IKM Testing Asia Pte. Ltd (Singapore) 1999 Acquisitions: Visman AS and IKM Offshore Development AS (Offshore Development AS). IKM Mekaniske AS invests in new workshop in Jåttåvågen 2000 Established: IKM Testing Canada Ltd. and Wellcon AS (34%) 2001 Established: IKM Kran og Løfteteknikk AS 2002 Acquisitions: Everclean International AS, Odim Hitecs dept. for Industrial-automation, Hitec Instrument (80%) and ACGS Pte. Ltd. in Singapore. Established: IKM Testing Spain SL. Share purchase: 34% of Midt-Norsk Stillas AS 2003 Established: IKM Service AS and Merlin Subsea AS. Merger: IKM Stillas AS and IKM Visman AS merge with KAEFER Maritim AS. Change of name: KAEFER IKM AS. Share purchase: 23,29% of Rosenberg Verft AS 2004 Acquisitions: IKM Larsen & Mortensen AS (Steinsvik Maskinindustri, dept. Stavanger), OIS Inspection AS, IKM Ocean Design AS 51% (former JP Kenny Norge AS) and Textrain (UK) Ltd Established: IKM Valves AS. Demerger: IKM Elektro AS demerges from IKM Gjerseth Elektro AS, which in turn changes name to IKM Automasjon AS. Acquisitions: IKM Mekaniske Kristiansund AS (Noomas Offshore AS) 2006 Acquisition: IKM Instrutek AS (Instrutek AS) and IKM. Morgenstierne AS (Morgenstierne Tekniske AS). Established: IKM Testing Australia Pty. Ltd Acquisition: Subsea Management Systems merged with IKM Consultants AS (Offshore Development AS), IKM Testing dept. Harstad (Altinex Services AS), IKM Årdal Mekaniske AS (Årdal Mekaniske Verksted AS) and IKM Production Technology AS (Altinex Reservoir Technology AS). Established: IKM Malaysia. Sale: IKM Automasjon AS and IKM Mekaniske AS, (fabrication dept.) 2008 Acquisition: IKM DSC Engineering AS (DSC Engineering AS), Arne Bø Pedersen AS (dept. for bolt working) and Jacobsen Services AS merged with IKM Testng AS. Sale: KAEFER IKM AS and Rosenberg Verft AS (28,4%) 2009 Acquisition: Moland Mekaniske AS. Established: IKM Subsea AS, IKM Operations AS, IKM Maskinering AS (merger of IKM Larsen & Mortensen AS, IKM Årdal Mekaniske AS and Moland Mekaniske AS) 2010 Acquisitions: Project Partner AS, IKM Technique AS (Technique AS), IKM Miljøteknikk AS (Miljøteknikk AS) and IKM Haaland Group AS (Haaland AS, Industrigravøren AS and Haaland Elektronikk AS) No accidents No injuries No exceptions

4 The IKM Group ELECTRICAL/ INSTRUMENT/ PROCESS SUBSEA/ COMPLETION/ COMMISSIONING ENGINEERING/ OPERATIONS FABRICATION/ INSPECTION IKM Elektro AS IKM Instrutek AS (Larvik) IKM Laboratorium AS (Tananger) Dept. Oslo IKM Measurement Services Ltd. (Aberdeen) IKM Measurement Services Asia Pte. Ltd. (Singapore) IKM Measurement Services Australia Pte. Ltd. (Perth) IKM Miljøteknikk AS (Sagvåg) IKM Products AS IKM Production Technology AS IKM Production Technology Sdn. Bhd (Kuala Lumpur) IKM Testing AS Dept. Kristiansund Dept. Hammerfest IKM Testing Asia Pte. Ltd. (Singapore) IKM Testing Australia Pty. Ltd. (Perth) IKM Testing Brasil LTDA (Rio de Janeiro) IKM Testing Canada Ltd. (St. Johns) Dept. Halifax IKM Testing Kazakhstan LLP (Atyrau) IKM Testing Spain SL (Cadiz) IKM Testing (Thailand) Co. Ltd. (Rayong) IKM Testing UK Ltd. (Newcastle) Dept. Aberdeen PT IKM Indonesia (Batam) IKM Consultants AS (Tananger) Dept. Horten IKM Consultants (UK) Ltd. (Aberdeen) IKM Ocean Design AS (Stavanger) Dept. Trondheim IKM Ocean Design Australia Pty. Ltd (Perth) IKM DSC Engineering AS (Tranby) IKM Kran og Løfteteknikk AS (Tananger) IKM Operations AS (Stavanger) IKM Service AS IKM Haaland AS (Vigrestad) IKM Industrigravøren AS (Vigrestad) IKM Inspection AS (Kristiansand) Dept. Grimstad Dept. Grenland IKM Maskinering AS Dept. Arendal Dept. Fyresdal Dept. Sola Dept. Tau IKM Mekaniske Stavanger AS (Stavanger) Dept. Nærbø IKM Mekaniske Kristiansund AS (Kristiansund) IKM Robertson AS (Egersund) IKM Technique AS (Sandnes) IKM Valves AS (Stavanger) IKM Subsea AS (Bryne) IKM Subsea Malaysia (Kuala Lumpur) IKM Subsea Singapore (Singapore)

5 IKM Invest IKM EIENDOM AS IKM INDUSTRI- INVEST AS 3500 Commercial property Residential property Development Projects Company investments AconaWellpro AS (21%) North Energy AS (3%) ScanFarm AS (67%) Ingenium AS (34%) Noreco ASA (6%) Company investments Hansa Property Group (15,6%) Founds Energy Ventures III Energy Ventures IV Acta The turnover for IKM Invest comprises companies where IKM s owner share is 20% or more B Mill. NOK

6 Electrical / Instrument / Process PRODUCT SALES Supply house Instrumentation/electro/electronics/automation Subsea/topside valves Flow/level instruments Measurement/testing equipment Electrical motors/transformers Thermography equipment Transformer surveillance Calibration/environmental instruments Navigation/communication PRODUCTION System integration Electrical motors/transformers/generators Electrical subsea motors/transformers Pressurised containers Control/enclosure panels Valve parts/valve repair High pressure sample bottles Subsea HPU s Subsea el. actuators Electrical/hydraulic control systems IKM Elektro AS IKM Instrutek AS IKM Laboratorium AS IKM Measurement Services Ltd. IKM Measurement Services Asia Pte. Ltd. IKM Measurement Services Australia Pte. Ltd. IKM Miljøteknikk AS IKM Products AS IKM Production Technology AS IKM Production Technology Sdn. Bhd. IKM Valves AS SERVICE, INSTALLATION AND CALIBRATION Pressure, temp, flow, electrical, mechanical and gas density Electrical parameters Valve Site Service (VSS) Pressure safety valves (PSV) Navigation/maritime communication (maritime equipment) Projecting (new build) Field instrumentation Emission measurements (NOx) PROCESS AND WELL TECHNOLOGY Data sampling (pressure, temp, flow, chemical analysis) On-site PVT Well integrity (monitorering/analysis) Process surveillance RENTAL EQUIPMENT/PERSONNEL TRAINING COURSES Subsea / Completion / Commissioning SUBSEA Trencher operations ROV operations Survey and Inspection services Offshore management Manufacture of subsea equipment Sale of ROV s Pigging/pipeline inspection/rfo Scale squeeze services Cuttings transport system (CTS) TOPSIDE Pressure and vacuum testing Chemical cleaning Oil flushing/oil cleaning Nitrogen services (N2/He leak testing) Umbilical services Video inspection Bolt working services Decommissioning/passivation Preservation Water as a tool/hydrojetting Air Treatment Pipe labelling/flow coding Certification of accumulators Maintenance of heat exchangers HVAC cleaning Pipe freezing Vacuum Tank Cleaning System (VTCS) Cleaning of slop water (X-clean) Cold cutting/cutting services Cutting/bevelling/flange facing IKM Testing AS IKM Testing Asia Pte. Ltd. IKM Testing Australia Pty. Ltd. IKM Testing Brasil LTDA IKM Testing Canada Ltd. IKM Testing Kazakhstan LLP IKM Testing Spain SL IKM Testing Thailand Co. Ltd. IKM Testing UK Ltd. PT IKM Indonesia IKM Subsea AS IKM Subsea Malaysia IKM Subsea Singapore RENTAL Pumps and tanks Inspection equipment Bolt working equipment Drying and filter units Flanges and plugs Air treatment units Testing equipment TRAINING COURSES

7 Engineering / Operations CONSULTANCY SERVICES (field development/new build, operation and maintenance) Multidiscipline engineering services Project management and project control Procurement and contract services Logistics and MA services Subsea and marine, drilling and well MARINE PIPELINE ENGINEERING Subsea and pipelines: - Field development - Engineering/design of marine pipelines - Installation engineering - Subsea production systems Design and construction of: - Subsea structures - Tie-in modules/systems - Subsea manifold systems IKM Consultants AS IKM Consultants (UK) Ltd. IKM Ocean Design AS IKM Ocean Design Australia Pty. Ltd IKM DSC Engineering AS IKM Kran og Løfteteknikk AS IKM Operations AS IKM Service AS Engineering and total delivery of passive fire and BLAST protection SYSTEMS CRANE AND LIFTING SERVICES Maintenance, modifications and certification of: - Offshore/ship cranes, lifting equipment - Lifeboats/mobboats/lifesaving equipment Supply/rental of lifting equipment Delivery of related engineering, mechanical work/fabrication OFFSHORE OPERATION SUPPORT AND SERVICE PERSONNEL Crane operators Mechanics Flag men Heliguards CUSTOMISED OPERATION SUPPORT TO OPERATORS Operations/maintenance and service personnel Operations and maintenance support Maintenance management Maintenance concepts Spare part strategy Maintenance planning Engineering Support all Disciplines Lifecycle studies Risk evaluation and RBI analysis Fabrication / Inspection CNC-MACHINING CNC thin plate machining 3D measuring MECHANICAL INDUSTRY Maintentance and modifications Sheet metal/welding and machining Fabrication and Installation Mechanical design / 3D modelling Fabrication of stainless steel products Contracting personnel Material handling and lifting equipment ELECRICAL Electronic products IKM Haaland AS IKM Industrigravøren AS IKM Inspection AS IKM Maskinering AS IKM Mekaniske Stavanger AS IKM Mekaniske Kristiansund AS IKM Robertson AS IKM Technique AS INSPECTION NDT/Material inspection Third party verification SUBSEA Rov-tooling Inspection services Construction of subsea equipment

8 Our focus is growth!

9 Electrical/ Instrument/ Process Subsea/ Completion/ Commissioning IKM Elektro AS Skvadronveien 24, 4050 Sola, Norway T: E: IKM Instrutek AS Elveveien 28, 3262 Larvik, Norway T: E: IKM Laboratorium AS NorSea Base, Bygg 53 Pb. 124, 4098 Tananger, Norway T: E: Ågotnes Industripark Pb. 97, 5346 Ågotnes, Norway T: E: Dept. Oslo Olaf Helsetsvei Oslo, Norway T: E: [email protected] IKM Measurement Services Ltd. Howe Moss Terrace, Kirkhill Industrial Estate Dyce, Aberdeen, AB21 0GR United Kingdom T: E: [email protected] IKM Measurement Services Asia Pte. Ltd. 117 Defu Lane 10 Singapore T: E: [email protected] IKM Measurement Services Australia Pte. Ltd. 33 Kewdale Road Welshpool WA 6106 Australia T: E: [email protected] IKM Miljøteknikk AS Rindane 9, Pb.23, 5408 Sagvåg, Norway T: E: [email protected] IKM Products AS Skvadronveien Sola, Norway T: E: [email protected] IKM Production Technology AS Skvadronveien Sola, Norway T: E: [email protected] IKM Production Technology Sdn. Bhd 1-10, Impian Kota, Jalan Kg Attap 50460, Kuala Lumpur, Malaysia T: E: [email protected] IKM Valves AS Gamle Forusvei Stavanger, Norway T: E: [email protected] O J Brochs gate Bergen, Norway T: E: [email protected] IKM Testing AS Ljosheimvegen 14, 4050 Sola, Norway T: E: [email protected] Ågotnes Industripark Pb. 97, 5346 Ågotnes, Norway T: E: [email protected] Dept. Kristiansund NorSea Vestbase, Pb Kristiansund, Norway T: E: [email protected] Dept. Hammerfest Brenneriveien Hammerfest, Norway T: E: [email protected] IKM Testing Asia Pte. Ltd. 117 Defu Lane 10 Singapore T: E: [email protected] IKM Testing Australia Pty. Ltd. 33 Kewdale Road Welshpool WA 6106 Australia T: E: [email protected] IKM Testing Brasil LTDA Rua Lauro Muller no116, Sala 2401 Torre do Rio Sul-Botafogo, Rio de Janero CEP: 22290, 160, Brasil T: +55 (21) E: [email protected] IKM Testing Canada Ltd. 40 St. Anne s Crescent Paradise, NL A1L 1K1, Canada T: E: [email protected] Dept. Halifax 30 Colford Drive, PO Box 100, Head Chezzencook, NS, B0J 1N0, Canada T: E: [email protected] IKM Testing Kazakhstan LLP Atyrau, Republic of Kazakhstan Atambaeva street, 12/A T: +7 (7122) E: [email protected] IKM Testing Spain SL Poligono Industrial «El Trocadero» C/Holanda, Nave 23 C.P Puerto Real, Cadiz, Spain T: E: [email protected] IKM Testing (Thailand) Co. Ltd. 72/2 Moo 3, Phala Sub-district Banchang District, Rayong 21130, Thailand T: +66(0) /997 E: [email protected] IKM Testing UK Ltd. 42 Colbourne Crescent Nelson Park Industrial Estate, Cramlington, Northumberland NE23 1WB, United Kingdom T: E: [email protected] Dept. Aberdeen Unit 47, Howe Moss Terrace, Kirkhill Industrial Estate, Dyce, Aberdeen AB21 0GR, United Kingdom T: E: [email protected] PT IKM Indonesia Ruko Bukit Beruntung Block C, no. 2, Batam, Indonesia T: E: [email protected] IKM Subsea AS Nordlysveien Bryne, Norway T: E: [email protected] IKM Subsea Malaysia 1-10 Impian Kota, Jalan Kampung Attap Kuala Lumpur, Malaysia T: E: [email protected] IKM Subsea Singapore 117 Defu Lane 10 Singapore T: E: [email protected]

10 Engineering/ Operations Fabrication/ Inspection IKM Consultants AS Tankbåtvegen Tananger, Norway T: E: [email protected] O J Brochs gate Bergen, Norway T: E: [email protected] Dept. Horten Storgt Horten, Norway T: E: [email protected] IKM Consultants (UK) Ltd. Rubislaw Den House 23 Rubislaw Den North, Aberdeen Scotland AB15 4AL T: E: [email protected] IKM DSC Engineering AS Dølasletta Tranby, Norway T: E: [email protected] IKM Kran og Løfteteknikk AS Tankbåtvegen Tananger, Norway T: E: [email protected] IKM Ocean Design AS Vassbotnen 1, Pb Stavanger, Norway T: E: [email protected] Dept. Trondheim Pb. 326, Sentrum 7402 Trondheim, Norway T: E: [email protected] IKM Ocean Design Australia Pty. Ltd 33 Kewdale Road, Welshpool WA 6106 Australia T: E: [email protected] IKM Operations AS Vassbotnen Sandnes, Norway T: E: [email protected] IKM Service AS Ljosheimvegen Sola, Norway T: E: [email protected] IKM Invest AS IKM Invest AS Skagenkaien Stavanger, Norway T: E: [email protected] IKM Haaland AS Skogateigen Vigrestad Pb. 23, 4369 Vigrestad, Norway T: E: [email protected] IKM Industrigravøren AS Fabrikkvegen Vigrestad Pb. 23, 4369 Vigrestad, Norway T: E: [email protected] IKM Inspection AS Lumberveien 51 B Pb. 8048, Vågsbygd 4675 Kristiansand, Norway T: E: [email protected] Dept. Grimstad c/o Nymo Mek. Verksted AS Pb. 113, 4891 Grimstad, Norway T: E: [email protected] Dept. Grenland Strømtangveien 11 B 3950 Brevik, Norway T: E: [email protected] IKM Maskinering AS Ljosheimvegen Sola, Norway T: E: [email protected] Dept. Arendal Bedriftsveien 13, Krøgenes 4841 Arendal, Norway T: E: [email protected] Dept. Fyresdal 3870 Fyresdal, Norway T: E: [email protected] Dept. Sola Tankbåtvegen Tananger, Norway T: E: [email protected] Dept. Tau Breivikveien 17, Nordmarka 4120 Tau, Norway T: E: [email protected] IKM Mekaniske Stavanger AS Jåttåflaten Stavanger, Norway T: E: [email protected] Dept. Nærbø Bjorhaug Vest 4365 Nærbø, Norway T: E: [email protected] IKM Mekaniske Kristiansund AS Dalegaten Kristiansund, Norway T: E: [email protected] IKM Robertson AS Nyåskaiveien Egersund, Norway T: E: [email protected] IKM Technique AS Torneroseveien Sandnes, Norway T: E: [email protected] Contact Information

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