2018 Copyright Ocean Aquafarms AS 1

2018 Copyright Ocean Aquafarms AS 1

2018 Copyright Ocean Aquafarms AS

Agenda:

➢ Introduction

➢ Our license application

➢ Status Hex Box

➢ Industrial solution for producing more fish

➢ The need for more specialist vessels

Ocean Aquafarms AS


• Established in 2015 (mother company established 1998)

• Turnkey supplier of aquaculture technology for offshore locations

• Develop concepts for fish farming on a global scale

• Bring experience from large and complex Oil and Gas projects into fish farming

• Cooperation with Norwegian and Chinese companies

Ocean Aquafarms AS - Summary


Mancorp / Ocean Services - Project Development Success in China

The companies have a strong track record with over $4 billion developed:

➢ Offrig was established to build the GM4000 drilling rig in 2005. Contract signed for 4 rigs with Yantai Raffles Shipyard in 2005. Awilco took over the project in 2006. COSL bought the rigs from Awilco in 2008.

➢ MARACC was established in 2006 to build a well intervention rig based on GM4000, contract signed for 2 rigs with COSCO. Morton Ulstein Island Offshore took over the project in 2007.

➢ North Sea Rigs was established in 2011 and contract signed with YCRO shipyard in Feb 2012. Funding completed and construction nearly completed. Rig is under discussions for a charter contract.

➢ Beacon Holdings Group Ltd was established in 2013 and contract signed with YCRO shipyard for 1 rig in Oct 2013. Beacon Pacific Group Ltd was established in Oct 2014 and contract signed for a 2nd rig. Both rigs are on schedule and will be offered for sale and charter.

➢ Ocean Services in 2010 signed a licence agreement with Grenland Group for a 4th rig for COSL (Prospector) based on the GM4000 design and in 2012 for a 5th rig HYSY982 for COSL in DSIC (A5000).

➢ Landmark Drilling was formed in 2013 to build 2 JU2000E rigs at CMHI in China. Ocean Services was the technical adviser.


Source Marine Harvest

Ocean Aquafarms - Market Potential

Ocean Aquafarms will be part of the solution to increase sea production


Main Particulars:

Significant wave height: 10 m

Circumference: 250 m

Volume: 433.300 m3

Capacity salmon: 10.140 mT

Depth of net from MSL: 90 m

Living Quarters: 3-6 persons

Lightship Weight: 6.000 mT

Fish Feed Storage Capacity: 1.000 mT

Power Generation: Gen. set & windmills

Mooring: Fixed point mooring

Ocean Aquafarms - Hex Box Norway Design


• Hex Box offshore fish farm for China

• Net: Ø60m (Circumference 190m)

• Net: Six separate nets (can be configured in

different combinations)

• Gravity based structure (GBS) for 15m – 30m water

depth

• Spud can system

• Jack-up as mothership containing utility

Ocean Aquafarms - Hex Box China Concepts

Hex Box GBS Unit (on seabed)

Hex Box Moored Unit


Key supplier and partner experience

ContainerEnergy and

petro-chemical

Road transport

Marine fabrication

Other business

Airport equipment

Logistics equipment

and svcs

Railway and truck

Real estate

~63,000 employees across

China, North America, Asia

and Australia

Kongsberg is a key supplier

• Best in class for marine systems

• Strong R & D development

• Aquaculture is a key business segment

• Long term relationship

CIMC is a strong Partner

• Industrialized container manufacture

• Industrialized airport equipment

• Industrialized railway and truck manufacture

• Strong marine fabrication expertise

• Logistics and other services


Key supplier & partners (2)

China Minsheng Bank is a key partner

• Large-scale commercial bank with RMB320,000 million of core capital, more than RMB5,200,000 million of total assets, nearly 3,000 branches and outlets, and almost 60,000 employees. In the Top 1000 World Banks ranking released by The Banker magazine in July 2016, China Minsheng Bank was ranked at No. 33; in the Global 500 list published by Fortune magazine in July 2016, China Minsheng Bank stood at No. 221

CNFC is a strong Partner

• CNFC International Corp. is the largest multi-national fisheries enterprise of China and is a subsidiary of China National Agricultural Development Group Co., Ltd

• China National Fisheries Corp. engages in processing, selling, and exporting sea products. The company offers tuna, fin-fish, mollusk, and crustacean products; and ice fishes, purple shrimps, herrings, cuttlefishes, and hairtails. It also provides logistics and transportation services, including cold storage and product oil transportation services. The company distributes products through a sales network in Europe, Africa, Japan, the United States, and China. China National Fisheries Corp. was formerly known as CNFC Ocean Fisheries Co Ltd. The company was founded in 1985 and is based in Beijing, China. It has branches in Europe, Africa, Asia, and South America

China National Agricultural Development Group Co., Ltd. (hereinafter referred to as “CNADC”) was founded in October 2004 upon the restructuring and merging of China National Fisheries (Group) Corporation with the China Animal Husbandry (Group) Corporation. It is the only central comprehensive agricultural enterprise under the direct governance of the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council.


Key supplier & partners (3)


Mass production of the Hex Box Solutions:

• Partner with a company that has done it before

• Design and build an optimal cage for the future which is scalable

• Ensure that the design can be easily constructed by using standard products and working with the fabricator during the whole detail design phase

• Use the latest technology and make the design easy to upgrade

• Make the design transportable

• Incorporate automation and renewable energy

How to Industrialize a product


A Win – Win solution China/Norway – Example salmon

NorwayNorway and China needs to increase bi-lateral tradeChina

Hex Box

Two products that complete a cycle

Salmon

Export More

Salmon

Increase the growing facilities and quantity of salmon for export

Export More Cages

100 Hex Box

Win/win exporting from China Hex Box importing more salmon into China

1 Mill tons of salmon


Installation:- Heavy anchors- Longer/larger mooring lines- Demanding environmental forces

Daily operation:- Long distance from feed transport vessel to delivery point- Demanding environmental forces when delivering services to fish-farm- Large feed storage, need up to 1000 tons every ten days- Larger and deeper nets need more capacity for net cleaning- Handling of heavy large nets- Lifting equipment for long handling distance- Transport of personnel, entry fish-farm with heave compensated

bridge

Biomass Handling:- Larger capacity for treatment vessels- Larger live fish carriers- Slaughter boats- Processing ships

Larger fish-farms need larger support vessels


Ongoing Project Developments

Deepwater

Offshore Fish

Farm

3 New Mid

Water Harsh

Environment

Drilling Rig

New large LFC

vessels for

offshore locations

Offshore

Decommissioning

Vessel

Shallow Water

Offshore Fish

Farm

Documents

2018 Copyright Ocean Aquafarms AS 1