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Sydvestor AS

Sydvestor AS. Asset Management – Private Equity – Project Finance - Corporate Finance September 2012. B usiness structure. SECURITIES & BONDS Portfolio management with focus on investments in securities in listed companies and bonds . Investment criteria: Solidity Cash flow

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Sydvestor AS

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  1. Sydvestor AS Asset Management – Private Equity – Project Finance - Corporate Finance September 2012

  2. Business structure • SECURITIES & BONDS • Portfolio management with focus on investments in securities in listed companies and bonds. • Investment criteria: • Solidity • Cash flow • Profitability • Growth • Market share • Share pricing • Leadership EQUITY INVESTMENTS Advises private equity funds with focus on investments in corporations in the Norwegian county of Møre and Romsdal. Long-term investment horizon PROJECT MANAGEMENT Syndication, debt placement and management of shipping and real estate project. • FINANCIAL ADVISORY SERVICES INCL.: • Corporate and business valuations- Private placements • M&A • Public offerings • Debt placements- Divestments • - Financial restructuring

  3. Sydvestor AS was incorporated in 1998 The firm’s services are marketed towards the private as well as public sector. Focus areas are all kind of regional businesses and the international offshore shipping, maritime and marine industries Assets under management is approx. NOK 1 billion (including funds) Sydvestor AS is owned by partners (58%) and investors/clients (42%) Employees of Sydvestor AS are all highly experienced professionals www.sydvestor.no Main overview Sydvestor AS is a Norwegian investment firm with a dedicated team offering a wide range of services with a view to create excess returns for our clients through strong focus on single markets, industries and companies. Our clients all receive individual and personal attention

  4. Licenses • Sydvestor AS is an investment firm located in Ulsteinvik, Norway, licensed and supervised by the Norwegian Financial Supervisory Authority – Finanstilsynet (www.finanstilsynet.no) • The company is licensed according to the Norwegian Securities Trading Act (“STA”) Section 1-2 to provide: • Portfolio management • Investment advice • Placing of public offerings, placing of issues as well as underwriting of issues of offers to acquire financial instruments • Sydvestor AS also provides the ancillary services (according to “STA”) including but not limited to: • Advice to undertakings on capital structure and industrial strategies • Investment recommendations

  5. Asset Management Sydvestor Asset Management is an independent business activity within Sydvestor AS offering portfolio management services Portfolio management is a licensed services where the client enters into a separate agreement with Sydvestor AS, granting Sydvestor AS authority to make investment decisions for and on behalf of the client and in accordance with the client’s mandate. The client will be the owner of the securities and they will be held on separate security accounts. • Our services are marketed towards businesses in the private and public sector, pension funds, foundations and wealthy individuals and companies • We focus our investments on listed companies selected from fundamental analysis. Investment criteria are financial strength, cash flow, earnings, growth, market position, stock price and management • We switch focus to bonds when the ratio between profit and risk in stocks is not attractive • We seek the highest possible performance for our clients in varying markets through allocation and stock picking

  6. Private Equity Sydvestor Private Equity is an independent business activity within Sydvestor AS advising private equity funds Sydvestorexercises active ownership through board representation Sydvestor Vekst AS (Closed ) – 8 years performance – App. 20% p.a. (ex. commission) MøreogRomsdalSåkornfond AS • A fund aiming to create value for its investors through active ownership in small and medium-sized companies and innovative projects located in the Norwegian county of MøreogRomsdal • The fund was established in 2007 • Current capital base of MNOK 165

  7. Corporate Finance Sydvestor Corporate Finance is an independent business activity within Sydvestor AS with a dedicated team of professionals with extensive industry and transaction experience from offshore, shipping, industry, tourism, banking and consultingOur core areas are offshore shipping, maritime and marine industries and real estate Equity Capital Markets (ECM): • We offer financial advice in all types of equity transactions; • Private placement • M&A • Public offering and listing (IPO`s) Debt Capital Markets (DCM): • We offer advice on how to establish an optimal capital structure, including restructuring of debt, debt options and opportunities as well as creative financial solutions Mergers, acquisitions, divestments, restructuring and joint ventures (M&A): • We know the Norwegian business environment and the international business in our core areas and the players in this business and the needs they have

  8. Sydvestor Project Finance Sydvestor Project Finance is an independent business activity within Sydvestor AS which organize, facilitates and help raise capital for shipping- and real estate projectsSydvestor`s services include project development, syndication, project financing and administration/management Shipping Projects: • We arrange and syndicate shipping projects • We are manager for Sydvestor Shipsinvest AS - an financial shipping company which takes controlling ownership positions in ship projects Real Estate Projects: • We structure and facilitate real estate projects and direct investments in the SPC`s SydvestorAS or groupcompaniesmayalso assist withthemanagement of investment companies (SPC`s) within real estate and offshore shipping projects

  9. Corporate Finance & Project Finance MNOK 35 Syndicated Real Estate Projects Financial Advisor and Lead Arranger 2010 MNOK 105 Private Placement Financial Advisor, Lead Arranger and Bookrunner 2010 Sydvestor Troll DIS MNOK 350 Syndicated OSV Project from Lead Arranger 2010 Ervik & Sævik AS MNOK 250 Contracting «Christina E» CombinedPurseiner & Survey Vessel Financial Advisor and LTD Arranger 2011 Seacore Grant DIS MNOK 200 Syndicated OSV Project from Sales Agent 2010 MNOK 1.200 Contracting 6 OSV Financial Advisor and LTD Arranger, Shipbuilding Contract 2011 Havblikk Eiendom SydvestorShipsinvest AS Finanseiendommen MNOK 500 Private Placement Financial Advisor, Lead Arranger and Bookrunner 2011/2012 MNOK 55 Private Placement Financial Advisor, Lead Arranger and Bookrunner 2012 MNOK 35 Private Placement Financial Advisor Lead Arranger 2012 ULSTEIN HOTELL AS MNOK 90 LTD Arranger Lead Arranger 2011 - Confidential - Acquisitionof M & A Advisor 2011/2012 SydvestorShipsinvest AS

  10. Location Sydvestor is located in Ulsteinvik which is an offshore shipping and maritime industry district in the Norwegian county of Møre and Romsdal Vigra Airport, Ålesund 1 hour 15 minuttes from Ulsteinvik. Combined with the high speed craft roundtrip Hareid – Valderøy. Hovden Airport, Ørsta 30 minutes drive from Ulsteinvik. The airport is operating all Widerø-flights, 1 hour flight from Oslo.

  11. The Møre and Romsdal Maritime Cluster – A Global Ship Solution Provider Norway is home for a tiny 0,1% of the world’s population, but controls over 5% of the world’s commercial fleet and has the second largest offshore fleet in the world Over 75% of the world’s large, hi-tech offshore vessels are designed by design-companies in the area 40% of the world’s most advanced offshore fleet is controlled by the region’s ship-owners The shipyards are building the most complex and sophisticated vessels «The Møre Maritime Cluster» comprises: 14 Ship yards 15 Ship designers/engineering companies 19 ship-owning companies 165 ship equipment/material suppliers Employing 19 500 employees (2011) Turnower NOK 42 billions (2011) Average profit margin 8,9% (2011) Most of Norway’s strength in the field of advanced maritime operations is concentrated within an hour’s drive from Ulsteinvik on the west coast of Norway. The region is home for an impressive constellation of over 200 leading maritime companies, training, research and finance institutions that form one of very few complete maritime clusters in the world 450 OSV`s are operated by Norwegian ship-owners, and 205 of those are from this region

  12. Partners/Employees Frede Uldbæk (57), M. Econ - CBS Managing Partner Mr. Uldbæk is an experienced executive as CFO from Danish and Norwegian Industry. He is also experienced as a Director of Boards in corporations within the maritime industry, ship owning and ship operation of fishing and offshore service vessels, hotels and investment companies. He was the founder of Sydvestor in 1998 SteinarKulen (58) - NBS - Partner/Dir.Corporate & Project Finance, Maritime Mr. Kulen is an international experienced industry executive. He is an experienced CEO as well as a Board Director from international as well as Norwegian corporations within the maritime industry, shipping, management consultancy, financing institutions, real estate and hotels. Sigvald Skeide (44), M. Econ - NBS - Partner/Dir. Asset Management Mr. Skeide is an experienced manager from companies in industry specializing in trade and finance. He was a manager of finance from the Ulstein Group before he join Sydvestor AS in 2003. He has experience from board in industries. Jostein Sætrenes (47), M. Econ - NBS - Partner/Dir.Corporate & Project Finance, Shipping Mr. Sætrenes is an experienced executive as CFO from companies within offshore shipping and finance, and as CEO from ship owning/ship operation and banks. He has extensive experience as a Director of Boards in shipping companies, ship yards, financing institutions in Norway and abroad. Vigdis GarnesBack office and Compliance Officer Experience from finance departments and back office functions in major Norwegian Maritime Corporations. Ivar Kvangardsnes (42) M. Econ – Partner/Dir. Private Equity & Corporate Finance, Marine Mr. Kvangardsnes is an international experienced executive as CEO, CFO and COO from companies within the seafood industry. He has also extensive experience as Board Member in the seafood industry.

  13. Disclaimer This document is intended for general information purposes only and does not constitute solicitation of or an offer to participate in any investment. This document does not, nor does it purport to, constitute any form of investment advice, recommendation or independent analysis. Consequently it has not been prepared in accordance with the rules and regulations governing such publications. The information in this document is not, and does not purport to be, complete. No assurance can be given that the stated investment objectives will be achieved and the value of investments may fall as well as rise. Past performance is no guarantee for future returns. SydvestorAS, its directors, employees and consultants, do not accept any form of liability (whether arising in contract, tort or negligence or otherwise) for any error, omission or similar misrepresentation in this general information or for any loss or damage (whether direct, indirect, consequential or otherwise) suffered by the recipient of this information or any other person. The information is strictly confidential and should not be copied or circulated to anyone but the addressed recipients.

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