1. Shipbuilding and Offshore Business in Brazil Hiroshi Iwamoto Board Director Managing Executive Officer & President GLOBAL MARKETING HEADQUARTERS September, 2013

2. IHI Corporation Copyright © 2013 IHI Corporation All Rights Reserved. Corporate Profile Founded1853 Capital Stock ￥ 95.7 billion Group employee 26,915 people （ End of March 2012 ） Net Consolidated Sales ￥ 1,221.18 billion Energy and Resources Shipbuilding, Social Infrastructure and Society Industrial Machinery and Systems Aero Engine and Space

3. IHI のブラジルビジネス ～海洋事業を中核としたビジネス展開～ Copyright © 2013 IHI Corporation All Rights Reserved. 2 Cooperation in Oil & Gas Development in Brazil

4. Growing Demand for Shipbuilding in Brazil 3 Copyright © 2013 IHI Corporation All Rights Reserved. Drill Ship Tanker FPSO From Petrobras’ Business Plan 2013-2017 * Total Investment ： US$ 236.5 billion * Investment for E&P ： US$ 147.5 billion (62% of total investment) Petrobras will startup 28 drill ships constructed in Brazil by 2020.

5. Production in Brazil Copyright © 2013 IHI Corporation All Rights Reserved. Productivity UP 100 thousands of skilled workers will be necessary by 2017 Weak controlling fabrication and construction procedures etc. To meet a target Oil Production capacity Cooperation between Brazil-Japan in Offshore Technology Technology transfer through Technical Assistance both Brazil and Japan. Continuous development of human resources.

6. Shipyards in Brazil Copyright © 2013 IHI Corporation All Rights Reserved.

7. Estaleiro Atlântico Sul(EAS) The biggest shipyard in the southern hemisphere, and the only VLCC construction shipyard in Brazil. Huge amount of backlog of orders from Petrobras: Taker 20 ships, Drill ship 7 ships. Partner: Brasilian shareholders are No2 & No4 General Contractor. EAS is tactical offshore base rather than shipyard. PlaceBrazil, Pernambuco Area 1,620,000 ㎡ (Building Area ： 167,000 ㎡ ) Investor Camargo Corrêa Group 37.5% Queiroz Galvão Group 37.5% JEI 25% EmployeeAround 6,000 Backlog of orders (Transpetro) Suezmax Tanker 8ships Aframax Tanker 12ships (Sete Brasil) Drill Ship 7ships

8. Participation to Estaleiro Atlântico Sul EAS’s shareholders requested IHI to be a partner of EAS. June, 2012 - JMU started to provide technical assistance to EAS. June, 2013 – IHI / JGC / JMU decided the investment to EAS. June, 2013 - Signing Ceremony in Japan August, 2013 - Investment 7 Copyright © 2013 IHI Corporation All Rights Reserved. Signing Ceremony in Japan June 2013

9. Logistic Hub System for offshore development Concept: Logistic Hub system can provide solutions for the transportation in the Pre-salt area between coast and offshore platforms. High Speed Vessels (HSV) for Coast connection Offshore platforms to Hub connection by helicopters High Speed Vessels Offshore Platforms Current SystemLogistic Hub System Logistic Hub Copyright © 2013 IHI Corporation All Rights Reserved.

10. Logistic Hub System for offshore development Functions: Transportation hub Heliport (takeoff and landing / fueling), helicopter hanger/elevator Air traffic control tower, air surveillance radar, airway beacon Berth for safe and efficient transfer of workers and cargo Cargo storage (fuel, food etc.) Accommodation Workshop for maintenance Offshore disaster response base Oil fence, oil treatment, oil adsorbent Fire extinguishant Medical facility Copyright © 2013 IHI Corporation All Rights Reserved.

11. Subsea & Pipe fabrication– Protubo 10 Copyright © 2011 IHI Corporation All Rights Reserved. Industrial piping and Subsea equipment Protubo is a leading integrated solutions provider for industrial piping projects in Latin America. Founded in : 1975 Employees : 100 Location : Campo Grande, RJ Protubo majors in main national and international shipbuilding and offshore projects executed in Brazil, such as pre- salt projects. Protubo has expertise not only conventional pipes to vessels but also in subsea equipment such as cladding technology products, for example, platforms (risers), Christmas trees, manifolds, and subsea pipelines.

12. IHI のブラジルビジネス ～海洋事業を中核としたビジネス展開～ Copyright © 2013 IHI Corporation All Rights Reserved. 11 Copyright © 2013 IHI Corporation All Rights Reserved. Offshore Renewable Energy

13. Fukushima Floating Offshore Wind Farm -Japanese National R&D Project- (Constructed by JMU In July,2013) (Constructed by JMU In March,2015) (Constructed by MES In July,2013) (Constructed by MHI In July,2014) Copyright © 2013 IHI Corporation All Rights Reserved.

14. Fukushima Floating Offshore Wind Farm The World’s first 66kV Floating Power Substation (constructed and Installed by JMU in 2013) Copyright © 2013 IHI Corporation All Rights Reserved.

15. Ocean current power generator One of the methods of utilizing marine energy involves driving turbines by ocean currents Utilizing the stable ocean current in terms of direction and power, we can generate stably all year round. Copyright © 2013 IHI Corporation All Rights Reserved. Ocean Current Generator Offshore floating wind power plant Offshore substation, Wind condition observatory Ocean thermal energy conversion

16. Copyright © 2013 IHI Corporation All Rights Reserved. OTEC (Ocean Thermal Energy Conversion) ～ ～ ６００～ １０００ ｍ Riser Pipe ５℃ ２５℃ Δ ２０℃ Depth vs. Seawater Temp Δ ２０℃ ６００ ｍ １００ ０ｍ Ａｎｍｏ ｎｉａ ＜ Typical Cycle of OTEC ＞ Turbine Generator Condenser Evaporator Surface Seawater Deep Seawater Working fluid Pump

17. Merit of OTEC Copyright © 2013 IHI Corporation All Rights Reserved. ”Stable” renewable energy Base-load capability ( 24hr generation) Seawater temp differences Between surface and 1000m depth Brazil is suitable country for OTEC

18. Muito Obrigado!!