Exmar : Investor Meetings October 2016

About this presentation

"This presentation (the "Presentation") has been produced by EXMAR NV ("EXMAR" or the "Company"). By attending a meeting where this Presentation is presented, or by reading the Presentation slides, the reader or the recipient, as the case may be, (the "Recipient") agrees to be bound to the conditions set out below. This Presentation and its content may not be reproduced, passed on or redistributed in whole or in part, directly or indirectly, to any other person.

This Presentation is for information purposes only and is not intended to, and does not constitute, represent or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction.

This Presentation is dated October 2016. Neither the delivery of this Presentation nor any further discussions of the Company with any of the Recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date. The Company does not undertake any obligation to review or confirm, or to release publicly or otherwise to investors or any other person, any revisions to the information contained in this Presentation to reflect events that occur or circumstances that arise after the date of this Presentation.

No representation or warranty (expressed or implied) is made as to the accuracy or completeness of the information contained herein, or otherwise made available, nor as to the reasonableness of any assumption contained herein or therein, and any liability therefor is expressly disclaimed. Neither the Company, nor its parent, subsidiary, affiliates, directors, officers, employees, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) arising directly or indirectly from any use of this Presentation or its contents or otherwise arising in connection with the Project or the Presentation, including but not limited to any liability for errors, inaccuracies, omissions or misleading statements in this Presentation. Nothing contained herein or therein is, or shall be relied upon as, a promise or representation, whether as to the past or the future and no reliance, in whole or in part, should be placed on the fairness, accuracy, completeness or correctness of the information contained herein or therein. Further, nothing in this Presentation should be construed as constituting legal, business, tax or financial advice.

Information provided by a third party where cited as the source may be derived from estimates or subjective judgments."

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Industry leader within LNG and LPG shipping

• Innovator and world market leader in floating liquefaction (FLNG) and floating regasification (FSRU)

• World class reference in LPG shipping with blue-chip customers

  Strong cash flow visibility

  • LNG fleet has an average remaining firm charter duration of ~10 years

  • Solid contract portfolio in LPG adds support in a more challenging market

    Solid counterparties

    and partners

• Strong relationships with the world's leading shipping banks, operators and owners

• Solid customer relationships with returning customers

  Opportunities for significant future growth

  • Strong player in MGC and Pressurized segments of the LPG world that could act as a consolidator

  • FLNG first mover advantage to capture a niche market

  • Discussions ongoing with VOPAK on the FSRU division

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Key metrics (proportional consolidation)

• Market capitalization: EUR ~400m

• Revenue (2015): USD 315m

• EBITDA (2015): USD 99m

• Total assets (2015): USD 1,276m

• Equity ratio (2015): 32%

• Net Debt / EBITDA (2015): 4.8x

 Employees (2015): 1,901

Fleet list (owned vessels)

4 LNG FSRU

2 LNG CARRIER

1 FSRU BARGE

1 FLNG BARGE

Worldwide Offices

21 MIDSIZE LPG CARRIER

10 FULLY PRESSURIZED LPG CARRIER

1 VLGC

1 SEMI-REFRIGERATED LPG CARRIER

3 ACCOMMODATION BARGE

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