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Simon Boddy Chairman of the Managment Board December 1, 2011

Simon Boddy Chairman of the Managment Board December 1, 2011. JSC “Ventspils nafta. 104,479,519 shares having a nominal value of LVL 1 per share: 60,598,121 shares in public circulation Listed at NASDAQ OMX Riga, the Baltic Official List First quotation – October 20, 1998

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Simon Boddy Chairman of the Managment Board December 1, 2011

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  1. Simon BoddyChairman of the Managment BoardDecember 1, 2011

  2. JSC “Ventspils nafta • 104,479,519 shares having a nominal value of LVL 1 per share: • 60,598,121 shares in public circulation • Listed at NASDAQ OMX Riga, the Baltic Official List • First quotation – October 20, 1998 • The last stage of privatisation – on October 5, 2006 – 38.62% (share capital owned by the State) were sold in the public auction • 34.75% of JSC Ventspils nafta shares were acquired by Euromin Holdings (Cyprus) Limited • Current main shareholders: • Euromin Holdings (Cyprus) Limited 49,50% • AS Latvijas Naftas Tranzīts 39,11%

  3. Corporate structure JSC Ventspils nafta Eurotank Holdings Sarl Transnefteprodukt 49% 34% 51% 49.94% 66% Latvian Shipping Company LatRosTrans Ventspils nafta termināls 10% SJSC “State social security agency International Baltic Investments 27,55% 12.06% Other

  4. VN group Ventspils nafta termināls Latvian Shipping Company LatRosTrans • One of the leading petroleum transhipment terminals in the Baltic Region • 105 tanks with combined capacity of 1,195,000 m3 • Pipeline / Rail Road Connections to CIS countries • 2011 marks 50 years of history of continuous operations • One of the leading owners in handy and medium-sized tankers • 20 modern tankers • Average age of the fleet 4.5 years • Own internal technical and crewing management company • Largest Latvian-Russian joint venture in the Baltic States • One of the largest oil & oil products transportation company in the Baltic States • An integral part of Vitol and Transneft distribution infrastructures

  5. Financial performance The VN Group in Q1-3, 2011: • Consolidated net turnover LVL 49.8 million • Net loss of LVL 2.87 million: • The main reason for the loss is the financial performance of JSC “Latvian Shipping Company” (LVL 15 million) • Supervisory Council costs reduced to zero (also in LSC since 2011) • Turnover of VNT reached LVL 41.3 million, transhipped amount has increased by 1/3 (34%). • The revenue of “LatRosTrans” from core activity was LVL 8.3 million, which is 25.8% more than planned.

  6. Dividends paid • in 2009 – LVL 0.48 per share • in 2003 – LVL 0.01 per share • in 1999 – LVL 0.03 per share • in 1998 – LVL 0.03 per share

  7. VN share price (LVL)

  8. Thank you!

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