1. Nordic American Offshore - homogenous, high-quality and flexible
Name
status
Yard
DWT
NAO Fighter delivered Norway ,200
NAO Prosper delivered Norway 4,200
NAO Power delivered Norway 4,200
NAO Thunder delivered Norway 4,200
NAO Guardian delivered Norway 4,200
NAO Protector delivered Norway 4,200
NAO Viking delivered Norway 4,200
NAO Storm delivered Norway 4,200
NAO Horizon delivered Norway 4,200
NAO Galaxy delivered Norway 4,200
NAO was established in 2013 with NAT as sponsor, manager and largest shareholder. The initial fleet was acquired from the Ulstein Group for $270m.
The company is based on the Nordic American Tankers model and is listed on the New York Stock Exchange (nyse:nao)

2. A Unique Strategy in the OSV* Segment based on NAT
Leverage
Free float
Pure play
Young fleet
Low
High
Yes No    
Norwegian
OSV companies  US
OSV companies  
NAO is offering a pure play PSV company
Norwegian OSV companies are generally highly leveraged, with a low payout ratio and a mixed fleet of different vessel types, in addition to PSVs, primarily in the AHTS and Subsea Construction category
* OSV: Offshore Supply Vessel. Comprises PSV, AHTS (Anchor Handlers) and CSV (Subsea Construction)

3. Applying a Different Approach
Basic Parts of a Successful Company
NAO Differentiating Dimensions
People
Experienced management team, with a proven track record including in the US capital markets.
Dividend Policy
Whereas most listed supply companies pay out little or no dividend, NAO will have, as a guideline, in a strong market a full dividend payout policy from operating cash flow.
Low G&A Costs
Lean organization, supported by NAT’s administrative platform. Cost savings in focus.
One Type of Ship
A high quality, homogenous fleet, will lead to high utilization and minimized operational costs over time.
Basic Strategy
The Company is a replica of Nordic American Tankers Limited.
Capital
Vessels
People

4. Investor Focused Offshore Supply Company
- Simplicity, Transparency, Predictability
expansion of fleet
A pure play PSV fleet
All cash flow distributed to shareholders
Maintain strong balance sheet
Maximize Total Return incl. Quarterly Dividend
Interests aligned, shareholders - management
Low cash breakeven level about $11k/day/ship
Mixed exposure to spot and TC rates
Low G&A costs
Leverage industry network

5. Key personell
Herbjørn Hansson
Marianne Lie
Jim Kelly
Paul Hopkins
David Workman
Bjørn Giæver
Tomas Nilsen
Executive Chairman
Vice Chair
Director
CFO
Chartering