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MARINE MONEY CONFERENCE DUBAI, MARCH 9 2011 Saleh Al-Shamekh President Oil & Gas The National Shipping Company of S

MARINE MONEY CONFERENCE DUBAI, MARCH 9 2011 Saleh Al-Shamekh President Oil & Gas The National Shipping Company of Saudi Arabia ( NSCSA ). OVERVIEW. Founded in 1979 as a Public Company in Saudi Arabia Ownership Structure: 72% free float widely held 28% Public Investment Fund (PIF)

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MARINE MONEY CONFERENCE DUBAI, MARCH 9 2011 Saleh Al-Shamekh President Oil & Gas The National Shipping Company of S

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  1. MARINE MONEY CONFERENCE DUBAI, MARCH 9 2011 Saleh Al-Shamekh President Oil & Gas The National Shipping Company of Saudi Arabia ( NSCSA )

  2. OVERVIEW • Founded in 1979 as a Public Company in Saudi Arabia • Ownership Structure: • 72% free float widely held • 28%Public Investment Fund (PIF) • Largest independent public listed ship owning/operating company in the GCC • Market Cap SAR 5.5 Billion as of 31th December 2010 • Total Assets SAR 9.9 Billion as of 31th December 2010 2

  3. BUSINESS SEGMENTS GENERAL CARGO CHEMICAL MARINE TRANSPORT Diversified Into 5 Business Units DRY BULK OIL & GAS SHIP MANAGEMENT 3

  4. STRATEGIC DIVERSIFICATION SHIP MANAGEMENT DRY BULK GENERAL CARGO CHEMICAL MARINE TRANSPORT OIL & GAS 13 MR IMO2 tankers 12 under construction NSCSA operates in this segment through its subsidiary National Chemical Carrier (NCC) MIDEAST is NSCSA in-house technical manager Provides NSCSA fleet with quality management at competitive cost. To acquire 5 Panamax Bulk Carriers NSCSA will operate in this segment through its subsidiary Bahri Dry Bulk JV owned 60% NSCSA/40% ARASCO 4 Con-Ro Ultra-large MPP ships Heavy project cargoes and containers operating from Middle East to US/Canada East Coast and Indian- Subcontinent 17 DH VLCC Operating in Spot and Time Charter Markets 30.3% of Petredec LPG trader & ship-owner owns and operates 50 ships 4

  5. RANK 6th AMONG VLCC OWNERS COSCO, 11 OSG, 12 MOSK, 40 BW, 15 VELA, 15 FRONTLINE, 39 NSCSA, 17 ANGELICOUSIS, 20 NYK, 33 NIOC, 28 Source: Clarksons – February 2011 5

  6. LEADER - MIDDLE EAST CHEMICAL MARINE TRANSPORT Operational Fleet (in ‘000 DWT) Source: Clarkson & Company Websites- November 2010 6

  7. Young and growing fleet In-house commercial and technical expertise Financially well positioned to support growth plans COMPETITIVE ADVANTAGE 7

  8. FINANCIALLY STRONG Strong Cash Position & Generation Sustainable Profitability Access to competitive financing Low leveraged Consistent Dividends Payout Consistent Dividends Payout 8

  9. SUSTAINABLE PROFITABLITY SAR Millions 2,595 759 1,703 961 2,052 1,672 451 423 415 448 369 372 9

  10. Negatives Fleet capacity is rising sharply Increased fuel prices Ship yard capacity World growth slowdown Pressure on asset prices Foreclosures/defaults TANKER OUTLOOK Positives • China/India crude oil import • Call on OPEC oil production • Super-slow ballast speed • Port/Terminal congestion • Storage/Contango Oil price • “Slippage”/Restructured NB delivery • Fleet consolidation • Opportunistic acquisitions 10

  11. The National Shipping Company of Saudi Arabia Thank You transparency award 2010 11

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