«New» AGR – October 2012 (VNR) AGR Group ASA

Key events in the history of AGR Group AGR Services AS founded – cleaning of oil and gas equipment AGR sold to UK based PSL Group AGR acquired back to Norway by original founders Sale of AGR Field Operations division Altor Increases ownership share up to 76%. AGR organizes its business into three stand-alone divisions. Acquisition of Drilling Production Technology AS (DPT) Acquisition of Triangle Technology Acquisition of the Peak Group Acquisition of Reservoir Evaluation Services AS Acquisition of TRACS International Consultancy Ltd Acquisition of the Upstream Petroleum Acquisition of Safe Control NDT Acquisition of RC Gruppen 70% of AGR sold to Altor Private Equity AGR listed in the Oslo Stock Exchange AGR EDS acquires ORS AGR establishes AGR Energy AGR re- establishes a structure with stand-alone divisions

The AGR Group Field OperationsDrilling servicesPetroleum services Reservoir management Well management Field Development HSE&Q Well service tools – rental Trenching & excavation Project management and engineering Subsea Infrastructure Facilities Integrity Operations and maintenance HSE&Q Sold to Oceaneering in 2011

AGR Field Operations sold to Oceaneering MNOK Sold at 1,365 MNOK 700 MNOK dividend Sold at 1,365 MNOK 700 MNOK dividend

Well Management Reservoir Management Consultancy Training HSEQ & Risk Management Software Solutions Technical Operator Today’s structure of AGR AGR Group ASA Petroleum Services Enhanced Drilling Solutions Tools & Technologies CTS RMR EC-drill Dual Gradient Drilling Well Service tools Dynamic Desander Trenchning & Excavation Cannseal

A significant global presence Abu Dhabi Australia Brazil Dubai Israel Norway Russia UK USA AGR Offices ~ employees world wide 4 regional hubs (Norway, UK, Australia, Americas) Revenue in 2011: ~ 1,9 BNOK EBITDA in 2011: ~ 250 MNOK

International development 2000 International revenue Regional hubs 2011 International revenue Regional hubs

AGR Petroleum Services Well Management Reservoir Management HSEQ & Risk Management Software Solutions Consultancy Services AGR Petroleum Services is a global player offering a complete portfolio of Reservoir and Well Delivery Services covering all aspects of a the activities. The services is delivered integrated as one combined solution, as well as separate services from each of the five business areas.

– Managed drilling of 400 wells in 10 years – 1,000 reservoir studies in 5 years – Managed 13 rigs simultaneously worldwide – Drilled the deepest GoM HPHT well at 33,000 ft below mud line and 33,000 psi Experience and strength

Abandonment Exploration & Appraisal Feasibility Concept Selection FEED Execute Production Field Development Gaining Access Reservoir Wells Integrated Services Facilities Solutions AGR Integrated Services

AGR Petroleum Services locations in Norway AGR Petroleum Services - current Bergen Stavanger Oslo AGR Petroleum Services - future AGR Petroleum Services has traditionally been located in Oslo, Trondheim and Stavanger. In 2 nd half of 2012 the search for personnel to start the build-up of a reservoir and well delivery business out of the Bergen region has started. Trondheim

AGR. Pioneering Achievements TM.