Floatel International

FEBRUARY 2013

The next generation floatels for world wide operations

Floatel International o Floatel International owns and operates a fleet of offshore accommodation

and construction support vessels. The company was established in 2006.

o Floatel International is jointly controlled by affiliates of Keppel Corporation and Oaktree Capital Management.

o The philosophy of the Company is to provide new semi submersible accommodation vessels (floatels) to the market and to offer professional floatel services to the oil and gas industry.

o Floatel’s fleet currently consists of two dynamically positioned vessels in operation and two dynamically positioned vessels under construction: o Floatel Superior – delivered March 2010, a DP 3 semi submersible accommodation vessel

specially designed for operations in harsh environment such as the North Sea, including Norwegian sector. Floatel Superior is presently committed to Statoil, Norwegian sector.

o Floatel Reliance - delivered October 2010, a DP 2 semi submersible accommodation vessel designed for medium harsh environment. Floatel Reliance is presently committed to Petrobras.

o Floatel Victory is under a turnkey construction contract at Keppel FELS Shipyard in Singapore and is due for delivery in November 2013, at which point it will commence its first of two already contracted projects.

o Floatel Endurance is under a turnkey construction contract at Keppel FELS Shipyard and is due for delivery in January 2015 and is contracted to Chevron Wheatstone project starting Q1 2015.

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Floatel International Ltd

(Parent Company) Bermuda

Floatel Superior BV (Contractor)

The Netherlands

Floatel Reliance BV (Contractor)

The Netherlands

Reliance Servicos Maritimos

Do Brasil Ltda Brazil

Floatel Victory BV (Contractor)

The Netherlands

To be formed

Service Agreements

Floatel International AB (Marine Manager)

Sweden

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100% 100% 100% 100%

100%

100%

Floatel International Ltd - Corporate Structure

Floatel Endurance Ltd (Vessel Owner)

Bermuda

Floatel Victory Ltd (Vessel Owner)

Bermuda

Floatel Reliance Ltd (Vessel Owner)

Bermuda

Floatel Superior Ltd (Vessel Owner)

Bermuda

Floatel Endurance BV (Contractor)

The Netherlands

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Brief overview of Keppel Corp.

Brief overview of Oaktree

• Keppel Corp. is the global leader in offshore rig design, construction and repair, ship repair and conversion, and specialized shipbuilding

• Keppel Corp. invests in selected niche areas • The investment activities have had significant

success stories, including Singapore Petroleum sold to PetroChina in 2009

• In addition to Floatel, they own stakes in Dyna-Mac, a topside module fabricator and have started a ship owning company in Brazil which will offer PSVs on bareboat charter or sale

• www.keppelom.com

• Oaktree’s mission is to provide highly professional management with a primary emphasis on risk control in a limited number of sophisticated investment specialties

• Oaktree specializes in less efficient markets and alternative investments, and has extensive experience, broad product range and substantial assets under management

• Oaktree is dedicated to the achievement of consistent and superior performance without high risk

• www.oaktreecapital.com

Note: SGD/USD = 0.79

Shareholder summary Asset class USD billionCorporate debt $21.9Convertible securities 7.4Distressed debt 27.3Control investing 16.5Real estate 5.0Listed equities 0.6

$78.7Note: As of June 30, 2012.

$4.4 $4.5

$0.9 $1.1

$0.0

$1.0

$2.0

$3.0

$4.0

$5.0

2010 2011

US

D $

bn

Revenue Operating profit

Floatel International Ltd - Shareholders

Shares (m) %Affiliates of Keppel Corporation 50,6 47,2%Affiliates of Oaktree 45,7 42,6%Other 12,1 11,3%

Shareholder

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Floatel International AB – Line Organisation

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Finance Mgr J. Bengtsson

QA P. Darland

Technical Mgr C. Benson

Legal Counsel D. Wästerström

HR Mgr M. Vikman

HSEQ Mgr P. Darland

CEO P. Jacobsson

CFO TBN

COO N. Mårtensson

Fleet Mgr O. Wahl

Charter Projects

Management Team

New Building Projects

Purchasing Mgr H. Lindström

Board Members

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Michael Chia Chairman

Mr. Chia is the Managing Director Keppel Offshore Marine Ltd and Deputy Chairman Keppel Integrated Engineering Ltd. He started his career in Keppel FELS in 1980 and has held several appointments in Yard Management, Corporate Planning, Marketing and Commercial and General Manager Operations. Mr Chia holds a B Sc in Naval Architecture and Marine Engineering, University of Newcastle-Upon-Tyne. He is a Singapore citizen and resides in Singapore.

Jonathan B. Fairbanks Deputy Chairman

Mr. Fairbanks is Managing Partner of Global Energy Capital. He is a board member of Vortex Ventures, ODS-Petrodata. He was previously president of Bassøe Offshore (USA) Inc, as well as board member of Forum Oilfield Technologies, Chiles Offshore, Hercules Offshore, Scorpion Offshore and Seajacks International. He is a US citizen and resides in Houston, USA

Jim Ford Director

Mr. Ford is a Managing Director of Oaktree Capital Management, L.P. and Co-Portfolio Manager of Oaktree’s Global Principal Strategy. Before joining Oaktree in 1996, Mr. Ford was a consultant with McKinsey & Co. and a financial analyst in the Investment Banking Department of PaineWebber Inc. Mr. Ford holds a BA in Economics from the University of California and an MBA from the Stanford University Graduate School of Business.

Ching Chuan Lai Director

Mr Lai is the Senior General Manager of Corporate Development for Keppel Offshore & Marine Ltd. He is responsible for business development activities within the KOM group worldwide. Mr Lai holds a B Sc in Naval Architecture & Shipbuilding from the University of Newcastle-upon-Tyne, UK and a MBA from the National University of Singapore. He is a Singapore citizen and resides in Singapore.

Edmund Mah Director

Mr Mah is General Manager (Finance) of Keppel Offshore & Marine Ltd. He is responsible for the financial and management reporting, budgeting profit and cashflow monitoring for the Keppel Offshore & Marine Group. Mr Mah holds a Bachelor of Economics and Business Administration (MBA). He is a Singapore citizen and resides in Singapore.

Adam Pierce Director

Mr. Pierce is a Senior Vice President at Oaktree Capital Management, L.P. Prior to joining Oaktree in 2003, Mr. Pierce served as a Financial Analyst in the Investment Bank at JP Morgan Chase & Co., gaining experience on a range of advisory and financing assignments. Prior thereto, he worked for Goldman, Sachs & Co. Mr. Pierce holds a BA degree in Economics with a focus on Business Administration from Vanderbilt University.

Amy Rice Director

Ms. Rice is a Vice President within Oaktree’s Global Principal Strategy. Since joining Oaktree in 2009, she has been integral in leading the Group’s efforts in the healthcare and shipping sectors. Ms. Rice holds an AB degree in Biology magna cum laude with highest honors from Harvard College and an MBA from the Wharton School at the University of Pennsylvania. She is a US Citizen and resides in Los Angeles, USA.

Peter Jacobsson CEO

30 years of experience within the offshore industry - CEO of Consafe Offshore, various management positions at Safe Offshore, management positions at Subsea 7, Halliburton Subsea, Rockwater and GVA

Nils Mårtensson COO

30 years of experience - Project Manager at Consafe Offshore, Project Manager at GVA on several large offshore projects

N.N CFO

TBA

Jörgen Bengtsson Finance Manager

20 years of experience - Financial Manager at Consafe Offshore and PNB, management positions within Skanska Group

Oskar Wahl Fleet Manager

12 years experience in the offshore industry and shipping. Previous positions include: Safety Manager at Tarntank Rederi AB, Design Engineer Stability & Weight Control at GVA

Claes Benson Technical Manager

30 years of experience within the shipping & offshore industry – Navy officer, Chief Engineer, Superintendent Swedish maritime Administration, Superintendent OSM, Fleet Manager TransAtlantic and Operations Manager Consafe MSV

Per Darland HSEQ Manager

30 years of experience in the offshore and shipping industry. Previous positions include: Senior Vice President, Risk Management at Prosafe Production and Prosafe Offshore, as well as various senior management positions at Safe Service, Consafe/Safe Offshore and Kockums Shipyard, Sweden

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Management Team

8

Location Employed Under recruitment

Gothenburg Head office - Sweden 31 9

Bergen Site Office - Norway 5 0

Macae Site office – Brazil 6 0

Floatel Victory Site office – Singapore/China 12 4

Floatel Superior – Marine Crew 93 -

Floatel Reliance – Marine Crew 82 -

TOTAL 229 13

Floatel International Organisation

Floatel International – HSEQ Report

Floatel Reliance

November 2012

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Floatel International – HSEQ Report

Floatel Superior

November 2012

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Floatel Superior - Delivered March 2010

Key Features – Harsh Environment unit for worldwide operations – 440 cabins, all single bed cabins – 50 office work stations – Approved free fall life boats and emergency shutes – Workshop and warehouse facilities for construction support – Deck area 2 200 m2 – Payload 2 700 metric tonnes – Offshore crane support – Telescopic gangway 38m, +/- 7,5m – Positioning systems:

o DP 3 positioning system o 8 point mooring (8x2000m, 3” wire, MBL 490 MT) o POSMOOR V ATA

Floatel Superior alongside Oseberg Field Centre

Floatel Superior alongside Njord FPU, offshore Trondheim

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Floatel Reliance - Delivered October 2010

Key Features

– Medium harsh environment unit – 500 bed accommodation capacity – 50 office work stations for Company exclusive use – 200% life saving capacity – Workshop facilities for construction support – Deck area 1 300m2 – Payload 1 500 metric tonnes – Offshore crane support, main crane 120 MT lifting capacity – Telescopic gangway 36m, +/- 6m telescopic action – DP 2 positioning systems

Floatel Reliance alongside Cherne 1, Campos Basin

Floatel Reliance alongside P 50, an FPSO located in Campos Basin

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Floatel Victory – Under construction Delivery Nov 2013

Fixed price, turn key construction contract Key Features

– Designed for harsh environment – DP 3 positioning systems – 10 point chain mooring system – 500 bed accommodation capacity – 40 office work stations for Client use – 200% life saving capacity – Workshop facilities for construction support – Deck area 1 300m2 – Payload 2 000 metric tonnes – Offshore crane support, main crane 120 MT

lifting capacity able to reach adjacent installation – Telescopic gangway 38m, +/- 7,5m telescopic

action Floatel Victory, due for delivery Q4 2013

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Floatel Endurance – Under construction Due for delivery January 2015

Fixed price, turn key construction contract Key Features (Based on Floatel Superior design)

– Harsh Environment unit for worldwide operations – 440 cabins, all single bed cabins – 50 office work stations – Approved free fall life boats and emergency shutes – Workshop and warehouse facilities for construction support – Deck area 2 200 m2 – Payload 2 700 metric tonnes – Offshore crane support – Telescopic gangway 38m, +/- 7,5m – Positioning systems:

o DP 3 positioning system o 10 point chain mooring system o POSMOOR V ATA

Floatel Endurance, due for delivery Q1 2015

Floatel International Ltd and Floatel International AB

Johannefredsgatan 4 431 53 Molndal, Sweden Tel: +46 (31) 352 07 00 Fax: +46 (31) 352 07 01

www. floatel.se

Floatel Reliance, Campos Basin