NFLB. Kristiansand, June 12, 2015. Site Manager, Stein Espen Bøe

NFLB Kristiansand, June 12, 2015 Site Manager, Stein Espen Bøe

Dette er AF Gruppen

AF Gruppen is a value-based company with firmly anchored set of core values KONSERNPRESENTASJON 18. juni 2015

Organization Civil engineering Environment Building Property Energy Offshore AF Anlegg AF Decom AF Bygg Oslo AF Eiendom AF Energi & Miljøteknikk AF Offshore Decom Johan Rognerud BA Gjenvinning (50 %) AF Bygg Østfold Boligenergi (50 %) AF Decom Offshore UK Ltd Pålplintar AB Rimol Miljøpark (50 %) AF Byggfornyelse AF Miljøbase Vats Valor Engineering (50 %) Jølsen Miljøpark AF Bygg Sør AF Offshore Rig Services AF Decom AB AF Bygg Rogaland AF Offshore Mollier Härnosand Byggretur AB Strøm Gundersen AF Offshore Systems Consolvo AF Offshore Mandal Haga Berg AF Offshore Aeron Thorendal Aeron Energy Tech. Co AF Bygg Gøteborg AB AF Offshore Aeron Pte.Ltd AF Bygg Syd AB 18. juni 2015

Business areas CIVIL ENGINEERING BUILDING ENVIRONMENT ENERGY PROPERTY OFFSHORE KONSERNPRESENTASJON 18. juni 2015

OFFSHORE Safe removal of offshore installations. Maintenance and modification services. The most modern Environmental base with ISPS approved quays in Europe Removal, demolition and recycling Maintenance and Modifications (MMO) Marine & Rig services M&M Onshore plants 18. juni 2015

AF Offshore operates in the offshore & marine market Five main business areas Maintenance, modification & operations Marine & Rig services AF Yards & Construction Decommissioning Products AF OFFSHORE - "FROM CONCEPTION TO COMPLETION" 16. mai 2014

Offshore & marine services A high level overview Electro, Automation, & Instrumentation HVAC & Refrigeration Decommissioning Offshore Removal and Disposal Automation, Electro & Instrumentation Process equipment Module & Container solutions Yard & Workshop services Material handling & Cranes Steel construction & fabrication Rig modifications, certifications and yard stay Studies Engineering Procurement Fabrication Installation Commisioning Maintenance & modifications Decommisioning 9 AF OFFSHORE - "FROM CONCEPTION TO COMPLETION" 16. mai 2014

We are now established throughout Norway and have international presence through own establishments and agents AF Offshore offices and agents 10 AF Offshore Establishments Oslo Haugesund Stavanger Flekkefjord Bergen Kristiansand Trondheim Mandal Porsgrunn Hammerfest International offices UK (Aberdeen) China (Shanghai) AF OFFSHORE - "FROM CONCEPTION TO COMPLETION" 16. mai 2014

The framework for our work Discharge permit (The Norwegian Pollution Control Authority) discharge of surface water, process water, noise, illumination, dust, sampling and reporting Approval for handling and storage of TENORM (Norwegian Radiation Protection Authority) ISPS certificate (The Norwegian Coastal Administration) International vessels to/from the Yard Certificate for handling of asbestos (Norwegian Labour Inspection Authority) AFD company certificate

AF Environmental Base Vats Established in 2005 finished in 2009 Investments > 600 MNOK Capacity: 75 000 ton at any time The most state of the art disposal site in Europe. - 68 000 m² solid surface - Max capacity; 10 ton/m2-182 meter quay/23 m water depth at quay - Certified for handling hazardous waste - Purpose built facility and equipment - Cleaning of all surface and process water - Oil retention system for pollution on sea

KONSERNPRESENTASJON 18. juni 2015

Environmental Monitoring Experts from the Norwegian Institute for Water Research (Norsk institutt for vannforskning (NIVA)) have prepared and executes a thorough program for monitoring of the environement in and by the fjord Examination of run-offs from water to sea Soil samples onshore Dust spread Monitoring of fresh water and process water Sea surveillance (soft-bed, fish and shellfish) ROV-surveillance of the environmental status in the sea Monitoring of radioactivity in spillwater to sea and sediments

Up to 98% recycle rate

We are proud of our customer feedback especially the areas where they state we stand out from the crowd AF Offshore creates value through entrepreneurial spirit and power of execution with true presence throughout projects Entrepreneurial spirit Power of Execution Presence Customer value proposition: We create value for our customer We plan and execute all customer projects in a safe and professional manner We are committed and solution oriented 17 AF OFFSHORE - "FROM CONCEPTION TO COMPLETION" 16. mai 2014

Competitiveness - HSE Focus Part of our values 20 18 16 14 12 10 8 6 4 2 0 AFs utvikling av H-verdi (frekvens fraværsskader)

Competitiveness - HSE Focus Part of our values - Implementation Culture Structure Loyalty

Competitiveness Risk Risk handling AF has developed systems and procedures to handle the rig owners risk: Environmental and personnel risk Transit risk From cradle to grave or let us reuse your rigs through a network of receivers and customers approved by the oil industry Smart solutions will make us competitive we strive to improve NORSOK standard on recycling KONSERNPRESENTASJON 18. juni 2015

Competitiveness Production Efficiency AF has invested in modern equipment and machinery and increased capacity: 40, 80 and 120 mt Excavators with mounted shears in addition to high reach equipment 320 Mt Rusch Triple Excavator The worlds largest stationary shear cutting force of 2500 mt Advanced planning Downstream solutions KONSERNPRESENTASJON 18. juni 2015

Demoliton and receival KONSERNPRESENTASJON 18. juni 2015

A selection of customer references Oil production companies, oil service companies, ship & rig owners and yards 25 AF OFFSHORE - "FROM CONCEPTION TO COMPLETION" 16. mai 2014

Decommissioning Indefatigable Field Short on project Piece Small Removal, Dismantling and Preparatory Work including Welding & NDT for offshore lifting of 6 Steel Topsides and Jackets on the Southern British Sector of the North Sea. On Inde Kilo and Juliet the Piece Small removal methodology was utilised on the Topsides. Project success criterions All work completed in 2010 without and lost time injuries. 3300 tons of steel scrap and other waste from the Piece Small campaigns was shipped in containers to Great Yarmouth for further processing, sorting and final disposal. 98 % recycling degree was achieved. Customer 26

Decommissioning Ekofisk Cessation Project Short on project Contract duration 2008 2014. Engineering, Offshore Hook Down preparations, Removal, Set down, Site move & Disposal of 11 platforms (topside & jacket) at the Ekofisk field in the North Sea: 2/4P, 2/4R, ALBF 2/4, ALBA 1/6, 36/22A & 37/4A Booster, Cod 7/11A, 2/4 D, Edda 2/7C, 2/4W, 2/4Q TS only & 2/4T Crane. Project success criterions The contracted was awareded with HMC in 2008. With more than 12 separate offshore campaigns using 3 different lifting vessels, 140.000 tons of scrap steel has been safely removed offshore and disposed of at AFEBV with a 96% degree of recycling. Customer 27

Decommissioning Engineering, Removal & Disposal of H-7 & B-11 Platforms Short on project With a game changing concept, AF was awarded the turnkey Contract for removal of the H-7 & B-11 platforms. Chartering the two sister Wind Installation Jack-up Vessels (Swire Pacific Orca & Osprey, the H-7 platform (Topside & Jacket) was safely removed spring 2013 using a combination of Piece Small & Reverse Installation. Project success criterions More than 1200 offshore lifts completed without any incidents, including 26 heavy lifts from 300-1000 tons. All lifts performed witthout welding padeyes. 8500 tons of scrap steel removed offshore and disposed at AFEBV with a 98% degree of recycling. All work completed without any serious incidents/accidents. Customer 28

AF Offshore Rig Services Example - Project reference Deepsea Atlantic Yardstay 2014

AF Offshore Rig Services Ocean Rig Corcovado Yardstay 2012 Short on project Drilling Vessel - Ocean Rig Corcovado. Various upgrade onboard performed by Westcon. Logistic & Services performed by AF Offshore. Project success criterions Quay facilities Customer focus Logistic area Customer 30

AF Offshore Rig Services Stena Carron Yard Stay 2012 Short on project Drilling Vessel Stena Carron BOP Replacement and various Services Project success criterions Quay facilities Logistic area Crane capacity Heavy lift with Crawler Crane Customer focus Customer 31

AF Offshore Rig Services Stena Carron Yard Stay 2013 Short on project Drilling Vessel Stena Carron Diving work / inspection Load testing of davits Various assistance work and services Project success criterions Quay facilities Logistic area Availability and location Customer focus Customer 32

Why choose AF Offshore? From conception to completion Project policies in focus Caring for the employees' health, safety, wellbeing and development Minimizing our environmental impact Positive impact on the local community Supplying long-term added value Practicing a high ethical standard Power of execution Presence Entrepreneurial spirit Project success criteria Safety No injuries Environment No damages or influence Predictability - Performance according to cost and plan 33 Finding better and more future-oriented solutions by ability and willingness to think differently

34 Thank you for your attention! AF Offshore, 2015