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Organizational Structure

OSX OwnershipOSX Ownership

OSX LeasingOSX LeasingOSX Shipbuilding UnitOSX Shipbuilding Unit OSX ServicesOSX Services

Free Float

Integrated offshore E&Pequipment and

services provider

10%10% 90%90% 100%100% 100%100%

Holding

21.1%21.1%78.9%78.9%

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Organizational Structure: Chain ValueOrganizational Structure: Chain Value

Engineering Projects

Engineering Projects

Bulk materialsBulk materials

Packages, equipment and

materials

Packages, equipment and

materials

Units transportation

services

Units transportation

services

Units installation

services

Units installation

services

Equipment, spares and

consumables

Equipment, spares and

consumables

Technical assistence specialized

services

Technical assistence specialized

services

Construction, assembling, integration and commissioning

of Naval Units (Shipbuilding)

Construction, assembling, integration and commissioning

of Naval Units (Shipbuilding)

Project, finance, transport, install and lease Naval Units

(Leasing)

Project, finance, transport, install and lease Naval Units

(Leasing)

Operate and maintain Naval Units (Operational Services)Operate and maintain Naval Units (Operational Services)

Naval UnitsNaval Units

Naval Units installed

Naval Units installed

Naval Units operated

Naval Units operated

INPUT BUSINESS PRODUCT

Support to the business (SMS, Comunication, Press, HR, Financial, Law, IR departments)

Support to the business (SMS, Comunication, Press, HR, Financial, Law, IR departments)

Supply Naval Units and related operational services, focusing on the Oil and Gas industry.

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OSX Shipbuilding Unit

Main focus: construction, assembling and integration of E&P Units, such as fixed and floating production platforms and drillships. Highlights to operational efficiency and state of the art technology.

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Strategic

Partnership with

Hyundai

Strategic

Location

OSX Shipbuilding Unit HighlightsOSX Shipbuilding Unit Highlights

• Largest shipyard of the Americas

• Located at the Açu Superport Industrial Complex

• At approximately 150km from the Campos Basin

• 2,400m of quay, expandable to 3,525m, enabling the integration of up to 9 FPSOs and the construction of up to 8 WHPs simultaneously (first phase with 2,400m of quay)

• Excellence in logistic, with integration to thermoelectric (savings of 30%) and steel mills (steel plates of 18m: savings of up to 56% in welding)

• Partnership with the largest shipbuilder in the world

• State-of-the-art technology and transfer of know-how

• Large, scalable shipyard at Açu

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Açu Industrial DistrictAçu Industrial DistrictA new A new clustercluster for heavy industry for heavy industry

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Açu Shipbuilding Unit - UCNAçu Shipbuilding Unit - UCN

• US$ 1.7 bn investment

• Steel processing capacity of 180,000 ton/year and assembly capacity of 220,000 ton/year

• Up to 3,525 m water front (2,400 m in first phase)

• Conceptual design approved by Hyundai Heavy Industries

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Naval Technology Institute - ITNNaval Technology Institute - ITN

Immediate objectives:

• Education, training and capacitating of the labor force dedicated to the UCN and Brazilian

naval industry jobs.

• 7,800 production, inspection and supervision technical specialists will be formed until 2013.

Complementary objectives for a second phase:

• Training partnerships with leading institutions for graduating superior and technical

professionals, seeking for new technologies and development of innovative engineering

projects, mobilizing suppliers for new equipment, and investing in research and development.

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Product PortfolioProduct Portfolio

• Floating Production Storage and Offloading

• Hull: conversion of oil tanker or new-build

• Tension-Leg Wellhead Platform

• Suited for deepwater environments

• Drilling units for exploration

• Heavily demanded in ultra-deepwater

• Wellhead Platform or fixed production platforms in general

• Suited for shallow-water environments

Description

• Pull-in and Mooring Systems

• Cranes

• Power Generation

• Automation Systems

• Bulk Materials

• Processing Systems

• Safety Systems

Main Systems for Standardization Target

FPSO

TLWP

WHP

Drillships

Tankers

• Navigation transportation unit

• Demand for long course navigation units, cabotage, relievers and production platforms

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OSX Leasing

Focus: E&P Units, to be leased to companies in the oil and gas sector, especially OGX.Long-term supply agreements that will ensure a predictable revenue flow.

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Strong demand

from OGX

Equipment

Destaques da OSX Fretamento Destaques da OSX Fretamento

• Priority Rights between OSX and OGX

• Order book of 48 offshore E&P units, equivalent to a US$ 30bn investment

• Upside potential with expansion of OGX’s exploratory campaign

• Firm orders of US$ 4.8 bilhões

• FPSO OSX 1: Delivery scheduled for 3Q2011

• FPSO OSX 2 and OSX 3: Deliveries scheduled for 2Q2011 and 3Q2011

respectivelly

• FPSOs OSX 4 and OSX 5: Deliveries scheduled for 2Q2014 and 4Q2014

respectivelly

• WHPs 1 and 2: Deliveries scheduled for 1Q2013 and 2Q2013 respectivelly

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OSX Services

Focus: Acting on services.Operation and maintainance of naval units.

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Services

OSX Services Highlights OSX Services Highlights

• At present, part of the crew to be on board of the FPSO OSX 1 is in Singapore for the commissioning process.

• Initiated the development of the standardization process on the classification and codification of the materials (technology solution “Klassmat”) owned by OSX.

• Establishment of the operational procedures to be adopted by the platform staff, with administrative support of INDG – Instituto de Desenvolvimento Gerencial.