Floatel International

MARCH 2012

The next generation floatels for world wide operations

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Floatel International Ltd – FleetKeppel Fels Shipyard, Singapore - January 2010

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Floatel International o Floatel International was established in late 2006.

o The vision 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 International is a private company and owned by an international group of investors. The company was listed on Oslo Stock Exchange between December 2010 and September 2011. No immediate plans exist to re-list the company.

o Floatel International group of companies owns and operates two semisubmersible accommodation vessels and have one vessel under construction at Keppel FELS Shipyard, Singapore due for delivery first quarter 2014.o Floatel Superior – delivered 18 March 2010, a DP 3 semi submersible accommodation

vessel specially designed for operations in harsh environment such as the North Sea, including Norwegian sector.

o Floatel Reliance - delivered 29 October 2010, a DP 2 semi submersible accommodation vessel designed for medium harsh environment.

o Floatel Victory – due for delivery Feb 2014, a DP 3 semi submersible vessel designed for UK sector of the North Sea as well as Gulf of Mexico, Brazil, West Africa and Western Australia.

Floatel InternationalHSE and Operating Performance

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HSE Company:

Floatel International, including vessels, is now certified to ISO 9001, ISO 14001, OHSAS 18001, ISM and ISPS.

Fleet Statisticso Days since Last LTI - Floatel Superior: 699 dayso Days since Last LTI - Floatel Reliance: 232 dayso Lost Time Injury Frequency: 1.51 (No of LTI’s per million man-hours

worked)o Injury Frequency: 7.56 (No of Injuries per million man-

hours worked)o Man-hours worked: 661,364

Operating performance (2011): Floatel Superior - Operational uptime: 99,7%

Floatel Reliance - Operational uptime: 96%

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Floatel International Ltd - Corporate Structure

Floatel Superior Ltd

(Vessel Owner)Bermuda

Floatel Reliance Ltd

(Vessel Owner)Bermuda

Floatel International Ltd

(Parent Company) Bermuda

Floatel Superior BV

(Contractor)The Netherlands

Floatel Reliance BV

(Contractor)The Netherlands

Reliance Servicos

MaritimosDo Brasil Ltda

Brazil

Floatel Victory Ltd

(Vessel Owner)Bermuda

Floatel Victory BV

(Contractor)The Netherlands

To be formed

Service Agreements

Floatel International AB

(Marine Manager)Gothenburg, Sweden

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Board of Directors

Michael ChiaChairman

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. FairbanksDeputy 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 FordDirector

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 LaiDirector

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 MahDirector

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 PierceDirector

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 RiceDirector

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.

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Floatel International AB – Line Organization

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Finance ManagerJ. Bengtsson

QAP. Darland

Technical ManagerC. Benson

Legal CounselS. Båth

HR ManagerM. Vikman

HSEQ ManagerP. Darland

CEOP. Jacobsson

CFOP. Sølvberg

COON. Mårtensson

Marketing ManagerP. Jacobsson

Fleet ManagerO. Wahl

Floatel International Organisation

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Location EmployedUnder

Recruitment Gothenburg Head office - Sweden 27 3 Bergen Site office - Norway 4 Macae Site office - Brazil 6 Floatel Victory Site office - Keppel/Singapore 6 7 Floatel Superior - Marine Crew 93 Floatel Reliance - Marine Crew 89 TOTAL 225 10

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Floatel Superior – delivered March 2010

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Floatel Superior – Key features

o Harsh Environment unit for ww operations, o 512 bed accommodation, 440 cabinso 40-50 office work stationso Approved free fall life boats and emergency

shuteso Workshop facilities for construction supporto Deck area 2 200 m2o Payload 2 700 metric tonneso Offshore crane supporto Telescopic gangway 38m, +/- 8mo Positioning systems:• DP 3 positioning system • 8 point mooring (8x2000m, 3” wire, MBL 490 MT)• POSMOOR V ATA

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Floatel Reliance – Delivered October 2010

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Floatel Reliance – Key features

o Medium Harsh Environment unito 500 bed accommodation capacityo 40-50 office work stations for Company

exclusive useo 200% life saving capacityo Workshop facilities for construction

supporto Deck area 1 300m2o Payload 1 500 metric tonneso Offshore crane support, main crane 120

MT lifting capacityo Telescopic gangway 36m, +/- 6m

telescopic actiono DP 2 positioning systems

Floatel VictoryContract effective as of 10 June 2011

o Turn Key Contract for Floatel Victory placed with Keppel FELS on June 10 2011

o Designed for world wide operations and will be delivered compliant to HSE UK rules and regulations.

o Incremental construction cost for harsh environment justified by larger market opportunity including North Sea region.

o Floatel Victory is scheduled for delivery February 2014, with option for delivery Q4 2013.

o Favourable Lump-sum contract payment terms

o Bonus/penalty scheme in place for delivery and pay load.

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Floatel Victory – Key features

o Designed for harsh environmento DP 3 positioning systemso 10 point chain mooring systemo 500 bed accommodation capacityo 40 office work stations for Client useo 200% life saving capacityo Workshop facilities for construction supporto Deck area 1 300m2o Payload 2 000 metric tonneso Offshore crane support, main crane 120 MT

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

action

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Floatel International Ltd and Floatel International AB

Johannefredsgatan 4431 53 Molndal, Sweden

Tel: +46 (31) 352 07 00Fax: +46 (31) 352 07 01

www. floatel.se

Floatel Reliance, Campos Basin