Planning for the Future James Watson President & COO, ABS Americas Houston, TX 18 February 2015

2 A Shifting Market…

3 Oil Price Scenarios: Offshore Industry $90+ New Investment – Moderate to Strong $80-$60 New Investment – Weaker Ultra Deepwater and Harsh Environment dries up Deepwater dampened Shallow only small impact $60-$40 Deepwater dries up Shallow water impacted Production and support further dampened Increase in project delays by 20% $40-$20 Shallow water strongly impact – only some replacements Production and support even further dampened Increase in project delays by 30% <$20 No new orders in 2015 and 2016, a few in 2017 Increase in project delays by 40%

4 Oil Price Scenarios: Marine Industry $90+ New Investment – Moderate Focus on eco-designs Flat growth across most sectors with small growth in bulkers and gas carriers $80-$60 New Investment – Weaker near term, stronger long term Decline in eco-designs $60-$40 New Investment – Continued increase Increase across all ship types Further degrading of eco-designs, scrapping reduced $40-$20 New Investment – Continues to grown Uptick in container and GDP-centric markets Decrease in tanker and gas carrier orders <$20 New Investment – Uptick near term, long term strong Few eco-design orders Strong increase in bulk and containers Strong decrease in tankers and gas carriers

5 Emissions Continue to be Under Scrutiny

6 Investing in the Future Support near term industry needs and prepares ABS for the future 5+ Yrs 3-5 Year Horizon 1-3 Year Horizon Understand the technology Validate the technology Implement the technology through Rules and tools 6

7 Proactive Collaboration

8 Life Cycle Approach

9 Foundation for Future

10 Holistic Alignment

11 Planning for the Future