Company presentation

1. Company presentation

2. A leading supplier of critical maintenance services Business overview Key figures • Beerenberg is a leading supplier of maintenance services to the oil and gas industry on the Norwegian Continental Shelf (NCS) • Market leader within the areas of insulation, surface treatment and scaffolding (ISS) • Has developed a range of innovative products and services to supplement its core service offering • Beerenberg operates both nationally and internationally and its key customers are oil companies and maintenance, modification and operations (MMO) contractors • Due to its long experience within its field, Beerenberg has become one of the most respected and innovative companies within maintenance in the oil and gas industry • The company has its main offices at Kokstad in Bergen, with divisions in Stavanger, Haugesund, Hammerfest, Oslo, Houston and Kazakhstan • Founded in 1977 • Owner: Segulah and management • Number of employees: 1500 • Revenue 2012: BNOK 1,43 • ISO certified • ISO 9001 • ISO 14001 • OHSAS 18001 • Split of Revenue: 70% ISS services / 30% BC services

3. HSE ABSOLUTE ZERO TOLERANCE AS REGARD DAMAGE TO PEOPLE, ENVIRONMENT, MATERIAL AND REPUTATION We shall be an industry leader within HSE, quality and risk management through ensuring standardization, competence and compliance. HSE STATISICS ”Preventing work related illness and injuries is one of Beerenberg’s most important priority areas. In order to attain this goal, Beerenberg is striving to improve management of risks relating to factors such as noise, vibrations, ergonomics, and chemical health hazards. Through focusing on barriers and robust working practices, we shall reduce work related illness and injuries.”

4. International activity Experience from 22 countries

5. References and ongoing projects Comments to abbreviations used in the above table: ISS = Insulation, Scaffolding (including Rope Access Techniques) and Surface treatment (and combination of these) *1 = Includes Architect. *2 = Includes Passive Fire Protection. *3 = Includes UHP Surface Preparation. *4 = Includes additional services like Habitat, Cold cutting, etc.

6. Business areas Green Field Centre (GFC) Architect Insulation, Scaffolding and Surface treatment (ISS) Business Centres (BC) Green Turtle Green Sawfish Insulation Benarx Habitat Solutions (Sveisolat) Scaffolding Subsea Insulation Mobile Machining & Abandonment Surface Treatment Rope Access Techniques (RAT) Engineering & Inspection

7. ISS services Business segment overview • Insulation • All types of industrial insulation for on- and offshore oil and gas industry, including hot, cold and acoustic insulation • Scaffolding • Beerenberg manages the full process; from calculations to project plans, project management, and finally the construction of the scaffolding • Surface treatment • Leading expert in corrosive preventive surface treatment • A high quality surface treatment is the single most important factor contributing to prolong the life expectancy of an installation • Beerenberg’s core competences are management of medium to long term projects within the disciplines of surface treatment, scaffolding and insulation • Beerenberg is equipped to take on projects throughout their lifecycle, including the construction, maintenance and modification phases

8. Insulation Insulation • Beerenberg launched insulation services in 1997 • The main services are • Industrial insulation for the oil & gas industry, typically hot ,cold and acoustic • Architectural solutions • Installation, maintenance and replacement of insulation are critical elements to maintain reliability, energy efficiency, operational integrity, process optimisation and safety of offshore installations and onshore processing plants • As the insulation materials are often damaged or require replacement, the majority of the installation work performed is recurring in nature • An important driver of spending on insulation is to neutralize the effects of corrosion under insulation

9. Scaffolding Scaffolding • Beerenberg launched scaffolding services in 1997 • Beerenberg manage the full process in ensuring access • Method selection and solution design • Structural calculations and planning • Finally, the construction and removal of the access solution • Complex structures and the constant need for maintenance in all disciplines on ensures a fixed demand for access solutions • Scaffolding is the primary solution to secure access on oil & gas installations

10. Surface treatment Surface treatment • Surface treatment was the first service provided by Beerenberg in 1977 • Beerenberg is the leading expert in corrosive preventive surface treatment on the NCS • Main services are: • Removal and application of paint systems • Removal an application of passive fire protection systems • Cleaning services • Large portfolio of surface treatment equipment

11. In-house developed unique products and services Sveisolat is used to enable execution of hot work, e.g. welding , without shutting down production on the installation Application of insulation on subsea structures to protect from hydration formation Subsea Insulation Habitat solutions / Sveisolat 150engineers and inspectors that are assigned to the Company’s various operation centres and projects Wide range of products within passive fire insulation, acoustic and thermal insulation Engineering & Inspection Benarx Mobile Machining & Abandonment Rope Access Techniques Accessing and securing areas that are difficult to reach and where it is not practical or more costly to use traditional scaffolding Tools for surgical cutting using synthetic diamonds in cutting of steel and concrete

12. Sveisolat - Habitat solutions A habitat solution can facilitate “hot work” within all zones on offshore installations, oil and gas terminals and petrochemical plants The solutions enables offshore operators to perform welding and cutting torch in safe working environment during production The concept is highly cost-saving since downtime is reduced and in many cases eliminated Sveisolat, first launched in 2002, is Beerenberg’s own registered trademark for a system consisting of a habitat, mobile gas detectors and control unit manned by certified operators The trademark is exclusive in Norway and Russia Capacity within the Sveisolat division consists of approx. 40 certified technicians and 45 MGD control units Description Tailor made solutions • Thanks to its flexible construction, Sveisolat can be used everywhere, offshore and onshore, e.g. in pipe gates and single pipes, on beams and T-pipes with multiple branches • The Sveisolat is constructed in the form and dimensions most suited to the purpose in each case and providing the greatest possible level of safety

13. The structure of a “Sveisolat” Habitat Alarm inside habitat Butterfly valve MGD Unit Air-driven HVAC unit Gas detectors Overpressure tent MGD control unit Gas detector HVAC Unit Components

14. Benarx – Beerenberg’s in-house developed insulation product Description Illustrations and Lloyds certificates Benarx is Beerenberg’s self-developed insulation products and solutions for passive fire protection as well as acoustic and thermal insulation Product development is implemented in close collaboration with institutions such as SINTEF, DNV, the National Institute of Technology and GexCon The solutions are space-saving, weight-reducing, efficiency-enhancing, logistics-reducing and with unique thermal and acoustic properties Proven technology, already installed on several installations; e.g. Snøhvit Hammerfest (Statoil), Ormen Lange (Statoil), Gjøa (Statoil), Gudrun (Statoil), Ekofisk (ConocoPhillips), Terra Nova (Petro Canada), Snorre (Statoil), and many more License production agreements entered into with partners in UK, Kazakhstan and Brazil www.benarx.com

15. All Benarx products can be custom made according to the customers’ needs Benarx F-series • A range of fire protection products for many different purposes • It consists of the patented and robust Benarx F Epoxy Box, Benarx F Steel Box - both single and double, and fire protection jacket with Benarx patented glued joints • A special piping insulation system includes the innovative products Benarx F Flexi Roll XP and Benarx F Cellular Glass XP, which dramatically reduces mounting time and space requirements Benarx A-series • A range of acoustic controlling products, well tested and proven for their durability and performance • It consists of Benarx A Steel Box and the patented Benarx A jacket, with patented glued joints • Both products can also be delivered with thermal insulating properties Benarx T-series • A range of thermal protective products, providing excellent test results and durability in harsh climatic conditions • It consists of the Benarx T Thermal Protection Jacket, with Benarx patented glued joints Note: Selected Benarx products, from the top: Benarx F Epoxy Box, Benarx A Steel Box, Benarx T Jacket

16. Rope access technology Rope Access Technology (RAT) is a method whereby ropes and climbing techniques are used in connection with work at heights RAT is increasingly applied as an alternative to traditional larger physical scaffolding installation Ensures that maintenance work can be carried out at the least accessible places Using RAT can often provide a more cost-effective, safer alternative in complex access situations Beerenberg has approximately 140 rope access technicians, including 37 safety managers On NCS, ConocoPhillips has been a pioneer using RAT, whereas other companies has been slow starters, and is expected to increase their use of RAT services going forward In November 2011, Beerenberg signed a substantial frame agreement within RAT with Norsafe The frame agreement includes a variety of RAT related disciplines, in connection with installation, maintenance and modification of lifeboat systems worldwide Description

17. Beerenberg has its own modern RAT training facility Beerenbergwas the first company to beNS 9600 certified. A modern training rig has been created to satisfy the users’ expectations for training in work at heights The rig is well-suited for training on different work operations such as rigging, installation and rescue 70% of participants on the training programs are external: Training of RAT personnel at all levels Training in fall protection and rescue Training facility Illustrations

18. Mobile machining and abandonment (MM&A)- Surgical cutting and mobile machining Beerenberg has developed unique methods and tools for surgical cutting and mobile machining The technology is based on using synthetic diamonds in removal of steel and concrete One of Beerenberg’s clear advantages are the combination of their services The combination of RAT and mobile machining tools leads to a substantial decrease in offshore hours needed – the main cost driver in most offshore projects The Company’s first international projects (SBM Nigeria and Semco Denmark) have been successful Description MM&A tools • Beerenberg uses a wide range of specialized tools for on site cutting and machining such as: • Mobile diamond wire saws • Mobile milling machines • Range of various hand tools • High Pressure Water Cutting (HPWC) equipment • Cutting and bevelling equipment for most pipe dimensions

19. Architect Description Typical projects • Beerenberg has it’s focus on maintenance and modification projects on offshore installations. • Our portfolio of projects includes a wide range of projects, from minor modifications to more extensive large scale projects. • Typical services and products are; • Noise and acoustics • Vibrations • lighting • Furniture/Furnishing • Signs • Ergonomics • Technical solutions • Functionality • Transport and logistics • Typical design and engineering tools are; • Archicad • Autocad • Microstation • Inventor

20. Subsea insulation Description Typical Customers • Beerenberg provide application of insulation on subsea structures to protect from hydration formation with following potential loss of flow during cool down cycles in deep waters • Typical structures are manifolds, pig loops, trees, connectors, flow meters, separator modules and pumping modules • Two different main application methods, injection moulding and application by hand • Beerenberg is a preferred partner of FMC Technologies within subsea insulation and is one of only two applicators worldwide who are certified for their product Novolastic • Subsea activities are carried out in close cooperation with the engineering division; performing risk analyses and project planning Link Weld Engineering 3 Phase Measurements Novolastic Ty-mar Polibrid ContraTherm

21. Engineering & Inspection Description Beerenberg design of fire protection (Benarx F-product) for risers at Snorre The division currently consists of approx. 140 engineers and inspectors mainly located in the Bergen and Stavanger offices The majority are staffed on projects onsite, whereas the remaining are supporting projects with planning, specifications, modeling, technical drawing and laboratory work Engineering services provided by the division ranges from preparation of specifications, modeling, technical drawing to full engineering responsibility working on EPC contracts Projects are usually executed in connection with other ISS projects The department also has two direct business streams: • ISS engineer placement at MMO contractors • ISS inspection software offer (to be launched in the market 2012)

22. Engineering & Inspection Services and engineering tools Typical ANSYS calculation reports For design, calculations, visualization we use advanced engineering tools as: • ANSYS • MathCAD • Inventor • AutoCAD • Micro station • WebTiv – Web based maintenance and planning system We can calculate complex conditions within static loads, explosion ( blast and drag ), fire, wave loads, fatigue, mechanical parts etc.

23. Engineering & Inspection 3D modelofvessel Benarx F Epoxy Box – for riser at Snorre Benarx F Epoxy Box – Assembly drawing

24. NyhamnaEPCm Frame agreement with KværnerStord AS – Engineering | Procurement | Contruction| maintenance

25. Organisation Project Head 3820 Major Projects 3822 Oslo NyhamnaContruction 3821 Aukra Minor Modifications 3823 Kristiansund Fabrication 3824 International Fabrication 3825 Norway

26. “Planning is everything” CA Ready for gas export FEED Engineering and procurement Offsite prefabrication (others) Ready for Booster compr. Construction engineering Offsite prefabr. On site - civil installation On site installation, MC and Pre-comm Commissioning

27. Scope of Work “Exept for subsea insulation, all core areas of Beerenberg are represented in the scope of work” KværnerStord AS has included early engineering phase to be a important part of Beerenberg’s scope, which tells us Kværner’s extreme focus on quality and deliveries on time. • Engineering and Procurement, including shop engineering • Engineering support within minor modifications and maintenance • Fabrication and pre-fabrication • Quality supervision on international sites • Insulation, Scaffolding and Surface treatment at site (Aukra) • Cold works • Rope Access Technology • Materials and Products

28. Beerenberg vision HSEQ | Technology | Competence Besides our strategic vision, it is important that we leave a footprint behind every step we take at Aukra. • Local perspective • Further develop existing technology • Strive to establish a new local business opportunity within the contract period • Establish long term regional business partners • Exploit windows of opportunities, together with local business partners

29. Our thresholds What to expect of Beerenberg as a customer Our business is based on similar requirements as our clients and end-clients, hence to qualify as a supplier some requirements are nice to know. • Beerenberg follows stringent SCM regulations • One-man-companies are not present in Beerenberg • Our supplier agreements are mostly strategic • We do not sub-contract own work, but • We hire personnel through our strategic suppliers • Note; strategic personnel suppliers must be able to employ own workforce, • We do not hire personnel through levels of sub-suppliers

30. Q & A