ETE Group - CLC ProjectsETE S.G.P.S. ETE S.A. TRANSINSULAR S.A. TCGL AVEIPORT TSA ATLANPORT SETEFRETE PORTSINES ETE COLOMBIA MANICARGAS CORALM S.A. NAVALROCHA NAVALTAGUS NAVALPRIME

1ETE Group | Corporate Presentation | July 2017

ETE GroupCorporate PresentationJuly 2017


1. The Group 2. Current Business Model

2.1. Port Operations2.2. Shipping2.3. Inland Waterways Transportation2.4. Engineering and Naval Maintenance2.5. Shipping Agents2.6. Logistics

3. Key Performance Indicators

Agenda


1. The Group


1936Establishment

1993Socarmar’sacquisition

1999Transinsular’s

acquisition

2000Port Terminals

new concessions

2011InternationalizationUruguay & Colombia

Launch of Transinsular’sinternational lines

1950Mid-Stream Operations

1968Floating Cranes’

operation

1982Pusher + Barge system

2001Shared services

A Group since 1936An history of tradition, growth and success over three generations

2016Corporate restructuring

Construction of Pusher-tug “Baía do Seixal”

2017Acquisition of first

tanker(“São Jorge”)


A defined StrategySimple and shared throughout the entire organization

VISION

LEADING the Maritime, Inland Waterways and Port business in Portugal

To be a REFERENCE OPERATOR in the markets where it is present

MISSION

Deliver INTEGRATED LOGISTIC SOLUTIONS with an EXCELLENCE SERVICE LEVEL, maximizing the Customer

Perceived Value as well as the Shareholder’s Return

Innovation and Anticipation

Ethics and Seriousness

Tradition and Modernity

Valuing and Respecting People

Customer Oriented

VALUES


Geographic Diversification in MotionFocus on core-business & pursuit of new investments and partnerships

Uruguay• Shareholder of Transfluvial, assuring river

transportation of wood logs to Montes del Plata (one of the world’s biggest pulp mill)

Colombia

• ETE Colombia SAS – owned 100% by the Group

• Initially equipment displaced for coal loading at anchor at Santa Marta bay

• Magdalena River Navigation• The equipment’s flexibility and the acquired

experience have been crucial to respond to different requests

• Deep contacts with SPR Cartagena for the navigation to ANDALUCIA river terminal

Cape Verde• Analysis of inter-islands sea service• Won shipyard concession tender

Mozambique• Logistics and freight forwarding company

100% owned by the Group (ETE Logísticade Moçambique).


100%

Transparent Corporate Organization Business areas segregation to create more synergies

ETE S.G.P.S.

ETE S.A. TRANSINSULAR S.A.

TCGL

AVEIPORT

TSA

ATLANPORT

SETEFRETE

PORTSINES

ETE COLOMBIA

MANICARGAS

CORALM S.A.

NAVALROCHA

NAVALTAGUS

NAVALPRIME

100%100%

TRANSFRAL

INTERDEF

TRANSFLUVIAL

Engineering and Naval MaintenancePort Operation and Inland Water

Transportation

V&S

S&C

NAVEX

SOFRENA

EUROLINE

ETE LOGISTICA

ETG

TSM

MARFRETE*

MARDANA

Shipping, Shipping Agents and Logistics

* Marfrete, Marfrete Açores, Marfrete Madeira and Marfrete Porto


Certified Companies Cross certification, multiple scope/benchmarking and different certification entities

Notes: SGS – SGS ICS; BV – Bureau Veritas Certification; Lloyd’s – Lloyd’s Register LRQA

Port Operations & Inland Water Transportation Shipping, Shipping Agents & Logistics Eng and Naval Maintenance


2. Current Business Model


LOGISTICS

Warehouses: 39,000 m²

Containers Forwarded: 20,000

Depot area: 50,000 m²

SHIPPING AGENTS

The Largest Portuguese Shipping Agent

Ship’s Calls: 2,400

ENGINEERING AND NAVAL

MAINTENANCE

Shipyards: 2

Annual Dry Docking: 50

Superintendence: 42 vessels

Specialized Teams Working On Board

INLAND WATER TRANSPORTATION

The Only Portuguese Inland Water Cargo Operator

Operations in Uruguay and Colombia

Bulk Cargo: 2.4 million ton Floating Equipment: 31

(Cranes, tugboats, barges & pontoons)

SHIPPING

The Largest PortugueseShip-owner

Ships: 7TEU: 124,000

Bulk cargo: 24,000 tonNautical miles: 375,000

PORT OPERATIONS

Largest Number of Port Concessions in Portugal

Port Concessions: 7(+2 public berths)

Total quay’s land: 5.2 kmBulk cargo: 11.3 million tonBreakbulk cargo: 3.2 million

tonTEUs: 760,000

Current Business ModelProved complementary activities relevancy



MAINTENANCE

Shipyards: 2

Annual Dry Docking: 50



LOGISTICS




SHIPPING AGENTS



SHIPPING




Current Business Model2.1. Port Operations

PORT OPERATIONS




tonTEUs: 760,000







PORT OPERATIONS




tonTEUs: 760,000

• Mother-Company in business since 1936• TMPB concessionary• Holding all Group shares of port operations companies

Lisboa

ETE – Empresa de Tráfego e EstivaOne of the most relevant port operators in Portugal


PORT OPERATIONS




tonTEU’s: 760,000

TMPB – Terminal Multiusos do Poço de BispoConcession for general, bulk cargo & containers operations in the Port of Lisbon

• Group share: 100%• A Port of Lisbon (APL) concession• Multipurpose terminal – general and bulk cargo & containers• 20 years concession, up to 03/12/2020, extendable to 2030• Volume: 0.5 million ton/year• Mid-stream operations support & covered warehouse capacity

Lisbon


PORT OPERATIONS




tonTEUs: 760,000

TMPB – Terminal Multiusos do Poço de BispoConcession for general, bulk cargo & containers operations in the Port of Lisbon


PORT OPERATIONS




tonTEUs: 760,000

TSA – Terminal de Santa ApolóniaMost recent concession for containers & general cargo in the Port of Lisbon

• Group share: 50% with an agreement for operational management• A Port of Lisbon (APL) concession• Container & General cargo terminal • 6 years concession, up to 28/02/2021, extendable to 09/04/2025 (by 1 year periods) • Volume: 110,000 TEU/year

Lisbon

Partnership:


PORT OPERATIONS




tonTEUs: 760,000

ATLANPORT – Sociedade de Exploração Portuária Concession to handle bulk cargo in the Port of Lisbon

• Group Share: 50% with an agreement for operational management• A Port of Lisbon (APL) concession on the Tagus South Bank • Terminal handling mainly scrap • 30 years concession, up to 30/06/2025• Volumes: 0.5 million ton/year

Lisbon

Partnership:


PORT OPERATIONS




tonTEUs: 760,000

• Group share: 67%• A Port of Leixões (APDL) concession• General & bulk cargo terminal (exclusivity rights)• 30 years concession, up to 30/06/2031, extendable by agreement to 2036 • Volume: 3.5 million ton/year

TCGL – Terminal de Carga Geral e Graneis de Leixões Concession for general & bulk cargo operations in the Port of Leixões

Leixões

Partnership:


PORT OPERATIONS




tonTEUs: 760,000

TCGL – Terminal de Carga Geral e Graneis de LeixõesConcession for general & bulk cargo operations in the Port of Leixões


PORT OPERATIONS




tonTEUs: 760,000

• Group share: 100%• Port operator – public quay system in the Port of Aveiro (APA)• Own 2x 60 t auto cranes• Own warehousing capacity: 8.400 m² + 2.100 m² under construction• Cargo handled: 1.4 million ton/year• Current share of dry cargo in the port: ~40%

AVEIPORT – Sociedade Operadora Portuária de AveiroA major operator of general & bulk cargo in the Port of Aveiro

Aveiro


PORT OPERATIONS




tonTEUs: 760,000

AVEIPORT – Sociedade Operadora Portuária de Aveiro A major operator of general & bulk cargo in the Port of Aveiro


PORT OPERATIONS




tonTEUs: 760,000

Setefrete – Sociedade de Tráfego e CargasActivity in different terminals in the Port Area of Setúbal

• Group share: 25% • Part of Setefrete Group• Stevedoring activity on Port of Setubal terminals, such as

Termitrena, ABB, Pirites, Ro-Ro and Lisnave.

Setubal

Partnerships:


PORT OPERATIONS




tonTEUs: 760,000

TERSADO – Terminais Portuários do Sado Concession for ro-ro, general and bulk cargo operations in the Port of Setúbal

• Group share: 26% • A Port of Setúbal Concession (Zone 1) – APSS • General and bulk cargo & ro-ro terminal • 20 years concession, up to 15/07/2024, extendable for another

10 years• Volume: 1.5 million ton/year

Setubal

Partnership:


PORT OPERATIONS




tonTEUs: 760,000

PORTSINES – Terminais Multipurpose de Sines Concession for the operation of coal, dry & breakbulk in the Port of Sines

• Group share: 60% • A Port of Sines (APS) concession • Multipurpose Terminal (mainly Bulk coal)• 30 years concession, up to 25/06/2022, extendable upon agreement for a max. period of 25

years• Volume: 5.5 million ton/year of coal and 0.5 million ton of other cargo

Sines

Partnership:


PORT OPERATIONS




tonTEUs: 760,000

PORTSINES – Terminais Multipurpose de Sines Concession for the operation of coal, dry & breakbulk in the Port of Sines


PORT OPERATIONS




tonTEUs: 760,000

EDP’s Operation in SinesHandling raw material, by-products and gangue at EDP power plant in Sines

• EDP contract award to handle raw material (coal), by-products and gangue at Sines power plant and exports through the Port of Sines

• 3 year contract started on 1/Oct/2016, extendable for another 2 years• Estimated internal volumes: 550 k ton/year; Export >= 300 k ton/year


LOGISTICS




SHIPPING AGENTS



PORT OPERATIONS




tonTEUs: 760,000

Current Business Model2.2. Shipping

SHIPPING





MAINTENANCE

Shipyards: 2

Annual Docking: 50









SHIPPING




TRANSINSULAR - Transportes Marítimos Insulares The Largest Portuguese Ship-owner

• Established in 1985, mainly focused on Madeira and Azores islands• Currently running regular container services to Madeira and Azores and Cape Verde,

Guinea Bissau, Mauritania and The Canary Islands• Global connections through international partners• Specialized tramping services, tanker, cement and bulk cargo• Chartering and project cargo


SHIPPING




TRANSINSULAR - Transportes Marítimos Insulares Liner services - Containers & General cargo - Madeira and Azores islands

• Weekly sailings from Lisbon and Leixões• Market share of 37% in Madeira and 43% in the Azores• Inter-island shipping in the Azores as well as cross-trading between Madeira and Azores• Breakbulk cargo, autos and project cargo


SHIPPING




TRANSINSULAR - Transportes Marítimos InsularesLiner services - Containers & General cargo - Madeira and Azores islands


SHIPPING




TRANSINSULAR - Transportes Marítimos Insulares Contract with the Azores Regional Government for fuel distribution by sea

• Transinsular assures the fuel distribution in Azores since 2011, and has won a recent tender delivered by the Azores Regional Government

• New contract provides service up to 2021, plus two years option• Tanker “São Jorge” acquired early in 2017 will bring significant gains to the operation• Segregated tanks and pipes• Regular activity in between the islands


SHIPPING




TRANSINSULAR - Transportes Marítimos InsularesLiner Services - Containers and General Cargo - Cape Verde, Guinea Bissau, Mauritania & The Canary Islands

• Strong presence in African ports similar in size to those of the Madeira and the Azores islands, and since 1988 calling Cape Verde and Guinea-Bissau

• Container, multipurpose and specialized ships • Regular operation to Sal and Boavista islands since October 2011 with recent expansion to

Mauritania• Current fortnightly service with two owned vessels• Significant increase of cargo volumes exceeding 50% annual growth

Oporto

Lisbon

Guinea-BissauCape Verde

Mauritania

Canary Islands







LOGISTICS




SHIPPING AGENTS



SHIPPING




PORT OPERATIONS




tonTEUs: 760,000

Current Business Model2.3. Inland Water Transport


MAINTENANCE

Shipyards: 2

Annual Docking: 50









• The original Group operation• Internationally recognized Know How • Inland waterways in the Port of Lisbon & coastal services with tugs and barges• Loading & unloading from barges and ships through floating cranes • Fleet of floating cranes, pontoons, tugs and barges with a cargo capacity of 45,000 ton

Lisbon

ETE - Empresa de Tráfego e EstivaMidstream at anchor loading and unloading operations


ETE - Empresa de Tráfego e EstivaMidstream at anchor loading and unloading operations







Uruguay

Partnership:

• Group share: 30% • Inland water transport of wood logs to Montes del Plata plant, one of the world’s

biggest pulp mill• Operating 4 x 5,000 ton capacity barges and 2 pusher-tugs • Yearly volume: 2 million ton






TRANSFLUVIAL - Navegación TFNWood logs waterways transportation on Uruguay River


TRANSFLUVIAL - Navegación TFNWood logs waterways transportation on Uruguay River







Colombia

• Colombian company 100% owned by the Group• Own equipment assigned to Colombia: high capacity floating crane, tugboat & flat barge• Started operations loading coal vessels at anchor from barges in Santa Marta (Capesize and

Panamax)• Equipment versatility allows different operations: support to public works, terminal

equipment assembly and monobuoy maintenance• Other operations in the Caribbean waters

Partnership:






ETE COLOMBIA - SASInland waterways and sea transportation, loading & unloading operations


ETE COLOMBIA - SASInland waterways and sea transportation, loading & unloading operations







LOGISTICS




SHIPPING AGENTS



SHIPPING




PORT OPERATIONS




tonTEUs: 760,000

Current Business Model2.4. Naval Engineering, Repair and Maintenance







MAINTENANCE

Shipyards: 2

Annual Docking: 50





MAINTENANCE

Shipyards: 2

Annual Docking: 50



S&C - Ship-management & CrewingLarge experience in vessels technical management and crewing

• Certified company on ship management and crewing for over two decades• Special focus on safety and quality matters whether internal or third parties• Fulfillment of national and international legal and statutory obligations • Follow-up of international conventions and recommendations - IMO & ILO• Ship management of general cargo, container, reefer, cement carriers, chemical tankers, ferries,

floating cranes, barges and tugs

Lisbon



MAINTENANCE

Shipyards: 2

Annual Docking: 50



NAVALROCHA - Sociedade de Construção e Reparação Navais Shipyard in Lisbon – Dry-docking, maintenance and repair capacity

• Shipyard located in the Port of Lisbon • Managed with the most recent naval repair techniques• On board repairs - own workshops and qualified manpower • 4 dry docks for vessels up to 180m of length and 22m breath

Lisbon



MAINTENANCE

Shipyards: 2

Annual Docking: 50



NAVALTAGUS - Reparação e Construção Naval Shipyard located in the South bank of the Tagus River

• Located on the south bank of the Tagus River & equipped with 3 slipways • Receiving ships up to 100m length and a maximum draft of 5m• Construction & repair of different types of work boats, including “Baía do Seixal”,

ETE’s most recent pusher-tug

Lisbon



MAINTENANCE

Shipyards: 2

Annual Docking: 50



NAVALTAGUS - Reparação e Construção Naval Shipyard located in the South bank of the Tagus River



MAINTENANCE

Shipyards: 2

Annual Docking: 50



NAVALPRIME – Serviços, Engenharia e InovaçãoNaval Repairs & Maintenance Company based in Lisbon

• Company specialized in mechanics, electronics & naval electricity, steel works, vessels’support, dry and reefer containers

• Qualified work-force, properly trained in the Group companies and managed by qualifiedtechnicians and engineers

Lisbon


LOGISTICS




SHIPPING




PORT OPERATIONS




tonTEUs: 760,000

Current Business Model2.5. Shipping Agents

SHIPPING AGENTS




MAINTENANCE

Shipyards: 2

Annual Docking: 50









Viana do Castelo

Leixões

Aveiro

Figueira da Foz

Lisbon

Setubal

Sines

Faro

• Offices in all Portuguese Ports & several African Ports, providing services to different types of vessels

• Support to customs clearance • Assistance to crew, supplies, maintenance & spares• Largest agent in the Portuguese market - over 50% market share• Agreement with BERGÉ for mutual representation in Portugal & Spain

NAVEX - Empresa Portuguesa de Navegação Largest national agent with offices in every Portuguese Port

SHIPPING AGENTS




Leixões

• Offices in Leixões providing services to different types of vessels• Support to customs clearance• Assistance to crew, supplies, maintenance & spares• Vessel’s brokerage and chartering for different cargoes

SOFRENA – Sociedade de Afretamentos e Navegação Company supports port and logistic activities in Leixões

SHIPPING AGENTS




Aveiro

• Offices in Aveiro providing services to different types of vessels• Support to customs clearance• Assistance to crew, supplies, maintenance & spares• Integrated logistics solutions

EUROLINE – Navegação e Afretamento Company supporting Port and Logistic activities in the Port of Aveiro

SHIPPING AGENTS




SHIPPING AGENTS



SHIPPING




PORT OPERATIONS




tonTEU’s: 760,000

Current Business Model2.6. Logistics

LOGISTICS





MAINTENANCE

Shipyards: 2

Annual Docking: 50









LOGISTICS




ETE LOGÍSTICALogistics and forwarding agent

• National and international cargo • Sea, air and land cargoes & related services • Container loading, groupage & cargo consolidation • Storage of goods & containers (Azores and Madeira Islands)• Member of the International Logistics Network YUSEN


LOGISTICS




ETGWarehousing Logistics Operations - Lisbon and Oporto

• Reception and consolidation of dry and refrigerated cargo - Domestic (Islands) and International• Warehousing and distribution • Tailored-made logistics operations • Warehouses’ area: 5,800 m2 of covered sheds • Forklift fleet entirely electrically powered


LOGISTICS




ETGManagement of ETE Group Container Depot - Lisbon (Telheiras)

• Reception, inspection and parking of containers• Washing and cleaning• Structural repairs and conversions of containers

and ITPs • Electrical and reefer containers maintenance

• Fully computerized paperless system• Area: 14,537 m2 (787 m2 covered)• Storage capacity: 1,200 TEUs• Volume: 50,000 TEUs/year


MANICARGAS – Manuseamento de Cargas Containers Depot located in the Port of Leixões approaches

Oporto

• Handling & Storage of containers • Maintenance and repairs • Washing and cleaning• Container inspection

LOGISTICS




• Area: 35,000 m2

• Capacity: 3,500 TEUS• Volume: 35,000 TEUs/year


Armazéns no Porto de AveiroExpansion of warehouses in progress reflects business complementarity

2,800m2 under project

2 x 1,400m2

Rail connection

Total automation

20 year Concession

From February 2016

(plus 5 years)

WarehousesArea: 4 x 2,100m2 =

8,400m2

Forecasted occupation: 340,000 tons bulk

LOGISTICS





TSM – Transporte de Sousa MendesRoad Haulage Company

• Road Haulage for services in the port areas• Containers and general cargo• Managing a fleet of over 50 Vehicles (owned and outsourced)• Based in Lisbon and Oporto

Oporto

Lisbon

LOGISTICS





LOGISTICS




ETE LOGÍSTICA DE MOÇAMBIQUELogistics and forwarding agent

Maputo

• Sea, air and land cargo • Related services & customs clearance support• International connections focused on Southern Africa Region• Operations with domestic cargoes in Mozambique


3. Key Performance Indicators


TEUS HANDLEDGENERAL CARGOBULK CARGO

Indicators for Cargo HandlingReflect a Sustained Improvement & Reinforce the Group’s Dimension

K TEUsK TONK TON

CAGR+2%

CAGR+5%

CAGR+2%


Maritime, Inland Water and Shipping Agency Operational IndicatorsReflect a Sustained Improvement & Reinforce the Group’s Dimension

VESSEL’S CALLSINLAND WATERWAYS

K TON

MARITIME TRANSPORTATION

K TEUS including empty ones

CAGR+6%

CAGR+31%

CAGR+2%


NET INCOMEEBITDAREVENUES

MEURMEURMEUR

ETE SGPS

Consolidated Accounts

ETE - SGPS, S.A. Consolidated AccountsA Trend of Sustained Growth

CAGR+4%

CAGR +13% CAGR

+50%


NET DEBT/EBITDANET DEBTEBITDA/REVENUES

MEUR

ETE SGPS

Consolidated Accounts

ETE - SGPS, S.A. Consolidated AccountsA Trend of Sustained Growth

Documents

ETE Group - CLC ProjectsETE S.G.P.S. ETE S.A. TRANSINSULAR S.A. TCGL AVEIPORT TSA ATLANPORT SETEFRETE PORTSINES ETE COLOMBIA MANICARGAS CORALM S.A. NAVALROCHA NAVALTAGUS NAVALPRIME