Global Oil Hubs Energy Buyer’s Conference, Miami, October 26, 2009 Hari Dattatreya

1. Global Oil Hubs Energy Buyer’s Conference, Miami, October 26, 2009Hari Dattatreya

2. The world of Vopak 80 terminals in 32 countries Total storage capacity: 27.9 million cbm / 175.5 million bbls

3. Vopak transformation process “Vopak in 5 years has transformed from being a non-focussed slow growth industrial conglomerate into a pure – well focussed – high growth terminal operator. “ Analyst July 2002 2003 2004 2005/2006 2007/2008/2009

4. Process Safety & Quality Performance Strict safety fundamentals Operational Excellence Board and Expert Forums Minimum standards Safety culture & behaviour Regular Training on Terminals

5. Strategic position tank terminals Outgoing Logistics Downstream Chemicals 5

6. Oil will remain the dominant energy provider until 2030 Oil production will continue to grow until 2030 between 25%-60% After 2030 production will stabilise or slightly decline Source: IEA

7. Increasing product differentiation Increasing geographical imbalances Liberalization of new markets New giant oil players Growing demand for Vopak services by the oil industry Growth at major oil hubs Million tons 7

8. Refining Center Strategic Location Trading Liquidity Storage and Blending Capacity Pricing Center Shipping Connections Intra & Inter regional Imbalances Changing Product Specifications What is a Hub Terminal?

9. Hub Terminals in Vopak network Vopak Terminal Bahamas Capacity: 3.4 mln cbm/21 mln bbls Vopak Horizon Fujairah Limited Capacity: 1.5 mln cbm/9.4 mln bbls Vopak Singapore: Sebarok & Banyan Capacity: 2.1 mln cbm/13.2 mln bbls Vopak Rotterdam Capacity: 5.0 mln cbm/31.5 mln bbls

10. Logistic hub terminals are well positioned to facilitate fuel oil trade 10

11. Logistic hub terminals are well positioned to facilitate fuel oil trade (2) 11

12. Global trade drives bunker demand at key bunker ports- Rotterdam bunker market is mature - growth in Singapore ongoing - Fujairah has further growth potential Sources: port authorities, Vopak, Bunkerworld

13. Bunker deliveries in Rotterdam: impact of recession? Source: Port of Rotterdam Little impact noticed on bunker volumes in Rotterdam

14. Fuel Oil in the Netherlands: origins and destinations 2008 • Import flows: • predominantly ex FSU • also France, Belgium, UK • Export flows: • deliveries into ARA bunker market • arbitrage to Singapore and US Source: IEA, Vopak

15. Vopak facilitates customers at many leading bunker ports worldwide Vopak Rotterdam Capacity: 5 mln cbm Rotterdam: 13 mln tons Vopak Gothenburg Capacity: 774k cbm Vopak Bahamas Capacity: 3.4 mln cbm Tokyo Bay: 5.5 mln tons Vopak Tallinn Capacity: 951k cbm Antwerp: 6 mln tons Vopak Hamburg Capacity: 700k cbm LA/Long Beach: 4 mln tons New York: 3.5 mln tons Busan: 5.3 mln tons Gibraltar: 4.2 mln tons Vopak LA/Long Beach Capacity: 440 k cbm Fujairah: 11 mln tons Vopak Fujairah Capacity: 1.5 mln cbm Panama: 3.3 mln tons Vopak Singapore Capacity: 2.1 mln cbm Singapore: 35 mln tons Bunker port (2008 volume) Vopak terminal Source: Vopak, Bunkerworld

16. What will future bring? • Key Terminal Implications • Increased complexity in product handling requirements: • Segregated low & high sulphur storage • increased blending requirements • flexible tankage and infrastructure • Emerging demand for Logistic hub terminals to facilitate fuel oil trade • Extended customer base and an ongoing shift towards long term relations • Key Fuel Oil Market Trends • Stricter legislation - (S)ECA’s - leading to stricter emissions control (SOx, NOx) and wider range of quality specifications for fuel oil • Increasing demand in Asia, Middle East & Latin America • New parties like Shipping Lines and NOC’s becoming active in the market 16

17. – www.vopak.com