Eidesvik Offshore — Investor Presentation 2014

Nov 13, 2014

Presentation3rd Quarter 2014

Oslo 13.11.2014 CEOJan Fredrik Meling

Newsafter 30.09.2014

Entered into anagreement for postponement of the newbuilding under construction at Kleven

3rd Quarter 2014 results (3rd Quarter 2013 in brackets)

R e v e n u e s	( ) O 2 9 2 9 9, M N K 5 1 7 ,
E B I T D A	( ) M N O K 1 4 7 6 1 8 9, 9 ,
f i i O t t p e r a n g p r o	( ) M N O K 9 1 0 1 2 7, 2 ,
f i P t t r e a x p r o ‐	( ) O 8 0 M N K 5 1 1 5 ‐ , ,

(3rd Quarter 2013 figures include ^a gain on sale of MNOK 50,5)

Results 3rd Quarter 2014 (in million NOK, Gain on sale excluded)

The results in 3rd Quarter compared to last year are influencedof:

‐Viking Forcados was sold in 3r^d Quarter ²⁰¹³

EBIT

‐GeoSearcher was sold in 2n^d Quarter 2014

‐Viking Nereus has been operated in the spot market at lower rates in3rd Quarter 2014

Q3

EBITDAQ3

Results pr 30.09.2014 (in million NOK, Gain on sale excluded)

The results YTD compared to last year are influenced of:

‐3 vessels withyard stay in 1st Quarter 2014

‐Viking Forcados was sold in 3r^d Quarter ²⁰¹³

‐GeoSearcher was sold in 2n^d Quarter 2014

EBITDAYTD

EBITYTD

Cash Flow(in million NOK)

	3 d Q t r a r e r u	3 d Q t r u a r e r
	2 0 1 4	2 0 1 3	Y T D 2 0 1 4	Y T D 2 0 1 3	2 0 1 3
f f N h l i i i i t t t t e c a s o w r o m o p e r a n g a c v e s	1 8 1, 3	1 3 1, 7	3 6 0, 9	3 3, 5 7	4 8 3, 0
N h f l f i i i i t t t t t e c a s o r o m n e s m e n a c e s w v v	6, 0	2 0 5, 4	( 1 4, 9 )	1 7 5, 2	1 1 0, 7
N h f l f f i i i i t t t e c a s o w r o m n a n c e a c v e s	( 1 4 6 ) 7,	( ) 2 0 3, 1	( 4 2 3, 6 )	( ) 1 7 6, 8	( 2 6 5, 9 )
N h i h h l d i t e c a n g e s n c a s o n g s	3 9, 7	1 3 4, 0	( ) 7 7, 6	3 2, 1 5	3 2 7, 8
C h b i i f i d t a s a e g n n n g o p e r o	4 6 5, 5	4 3, 1 7	5 8 2, 8	2 0 5 5,	2 5 5, 0
C h d f i d t a s a e n o p e r o	5 0 5, 2	6 0 1 7,	5 0 5, 2	6 0 1 7,	5 8 2, 8

Interest paid is categorized under financing activities, interest received is categorized under operating activities.

Balance(in million NOK)

Segments Incl. Share of Joint Ventures Excluded gain on sale (MNOK)

d 3r Q 2 0 1 4 te ua r r	Se ism ic	bs Su ea	ly Su p p	he O t r
Re ve nu e	6 9, 5	1 0 3, 0	1 2 3, 5	6, 3
E B I T D A	6 9, 3	5 8, 6	5 7, 7	‐3 3 ,
E B I T	6 4 4,	2 8, 1	2 2 7,	‐3 9 ,
E B I T D A in m ar g	1 0 0 %	5 7 %	4 7 %	/ N A
E B I T in m ar g	% 6 4	% 2 7	% 2 2	/ N A

d 3r Q 2 0 1 3 te ua r r	Se ism ic	bs Su ea	ly Su p p	he O t r
Re ve nu e	6 7, 0	9 6, 2	1 2 0, 1	6, 6
E B I T D A	6 8, 0	5 1, 6	5 8, 9	‐4 9 ,
I E B T	3 9, 3	2 4, 2	2 0 7,	2 ‐5 ,
E B I T D A in m ar g	1 0 2 %	5 4 %	4 9 %	/ N A
in E B I T m ar g	% 5 9	% 2 5	% 2 3	/ N A

RevenueQ3 2014

Contractbacklog (per 30.09.2014)

Contract statusseismic

Contract statussubsea

Contract statussupply

i k ing V Q ue en
i k ing dy V La
i k ing he V A t ne
k V i ing En er g y
k V i ing Av t an
k V i ing Ne re us	S P O	T
k V i ing Pr inc e
i k ing inc V Pr es s
	2 0 1 4	2 0 1 5	2 0 1 6	2 0 1 7	2 0 8 1

Market

The increased cost focus of the oil companies together with falling oil price create turbulence in the markets weoperate in.

We expect ^a challenging spot market in the North Sea for the PSV segment the next months. A possible improvement in the spring 2015 depends on tonnage leaving the area and scope of activity inthe Barents Sea.

The seismic market is still weak. We see ^a tendency of phasing out older vessels through deployment in newranges of use.

In the subsea market we still experience high activity, especially outside the North Sea. We have confidence in this market going forward, as many projects will be executed both within development andmaintenance.

Thanks forYour attention!