COMPANY PRESENTATION www.newportshipping.com

LONDON

GLOBAL OFFICES

▪ Newport Shipping UK LLP (“Newport” or the “Company”) was established in the UK in 2011 with vesselmanagement, design, construction and repair experience dating back to the 1960s

▪ The Company is active globally with the services of dry-docking, retrofit, repair and conversions with alow carbon focus in 12 yards with 28 docks capable of handling approximately 2,100 repairs annually ofall vessel classes and sizes

▪ Dry-docking business has a steady flow given all vessels require ongoing maintenance every 2.5 yearsand 5 years in addition to ad-hoc repairs required to sail

▪ Retrofitting business is benefiting and will continue to do so due to the IMO ambition for a zero-emissions shipping industry as all existing and ordered vessels need to comply with stricterenvironmental regulations

Introduction

1971Newport founding members start ship

repair business

2013Established subsidiary Ecoships Gemi

Isletmeciligi AS which managed 4 bulkers and 4

small chemical tankers

Full technical and commercial management of

shipyard in Turkey with more than 600 repair

and conversion projects delivered

2018Global offices in Istanbul, Athens, London,

New York, Singapore, Shanghai & Oslo.

Corporate agreements with 8 shipyards in

China, Singapore & Indonesia signed, as

well as cooperation agreements with market

leading engineering company Goltens

2011Newport Shipping UK LLP founded

2019Additional cooperation agreements signed

with scrubber manufacturers and Middle

East shipyards. Deal pipeline grew

significantly as IMO 2020 looms

2020New office in Hamburg established

Newport focus on providing turnkey solutions

for LNG retrofit. Cooperation agreements

with TGE, Marine Service, Glory Holder

(LGM), DEFON

2016Global expansion of ship repair and conversion

businesses additional offices opened in main

shipping hubs

Company Milestones

LONDON

FINANCE

RISK MANAGEMENT

MARKETING & SALES

INVESTOR RELATIONS

ATHENS

TECHNICAL & ENGINEERINGMARKETING

INVESTOR RELATIONSMARKETING & SALES

INVESTOR RELATIONS

ISTANBUL NEW YORKOSLO SHANGHAI SINGAPORE

MARKETING & SALES

TECHNICAL & ENGINEERNG

MARKETING & SALES

TECHNICAL & ENGINEERING

INVESTOR RELATIONS

MARKETING & SALES

TECHNICAL ENGINEERING

MARKETING & SALES

INVESTOR RELATIONS

TECHNICAL & ENGINEERING

HAMBURG

Global Offices

• 40+ years experience handling vessel

design, construction and repair

• 12 shipyards with 28 docks capable of

handling 2,100 repairs annually

• Strategically positioned within the lower cost

regions in the Atlantic and Pacific zones

• State-of-the-art yards capable of handling all

vessel classes and sizes

• Turnkey solutions for conversion and

retrofitting of EGCS/BWTS/LNG/ESS

• Comprehensive works: equipment

procurement, 3D scanning, class and

detailed engineering and retrofit works at

shipyard or with riding squad

• Guaranteed retrofit slot availability at partner

shipyards at the Atlantic and the Pacific

• Favourable equipment lead time for owners

from order to delivery at the shipyard

• 'Pay as you Earn' payment scheme that

minimizes cash outlay for shipowners

• 'All in One' invoicing to include cost for

equipment, spare parts, painting, etc.

• Up to 60% of total expense deferred over up

to 36 months after vessel redelivery

• Immediate earnings uplift for shipowners

through subsequent vessel operations

• No requirement for collateral or mortgage

which frees up working capital for owners

DRYDOCKING RETROFIT DEFERRED PAYMENTS

Business Overview

Drydocking Procedure

Receipt of

technical repair

specifications

Agreement with

customer

Preliminary

booking

confirmation

Technical parts

order

Vessels arrival

to the shipyardVessel delivery

Our highly qualified

team will work on the

specifications

Contract will be signed

with the shipowner

according to their

technical specification

Docking space and

dates confirmed. If the

plans change, we can

accommodate by

booking another dock

in our network

All technical parts can

be ordered and

delivered to the

shipyard before the

vessel’s arrival

Priority will be given at

all our partner

shipyards. After arrival

the ship repair plan will

be submitted

Vessel re-delivery will

take place upon

signing of Payment

Guarantee Letter

Contract

effective

Submission of

design drawing

to class society

Class approval

of design

drawing

Delivery of

retrofit system

Redelivery of

vessel

Deferred

payment option

All contracts based on

English law

Competitive lead time

upon receipt of the

contractual down

payment

In-house on-site

engineering &

commercial teams with

reputable service

partners

Guaranteed shipyard

slot with Newport’s

network of shipyards in

the Atlantic and Pacific

Turnkey solutions:

equipment

procurement, 3D

scanning, class and

detailed engineering

and retrofitting

Deferred payment

terms without the need

for collateral, bank

guarantee, letter of

credit or personal

guarantee

LNG Retrofit Procedure

Partner Yards

Yard Length

(M)

Breadth

(M)

Depth

(M)

Capacity

(T)

Berth

(M)

Cicek Shipyard Dry Dock 215 37.5 10.5 410

ASRY (Arab Shipbuilding & Repair Yard)

Dry Dock No.1 375 75 8,5 500.000

1,380Floating Dock No.1 252 44 120.000

Floating Dock No.2 227 40 80.000

Oman Drydock Company

Dry Dock No.1 410 95 14.5 600,000

2,800

Dry Dock No.2 410 80 14.5 500,000

CSIC Tianjin XingangDry Dock No.1 520 120 13,3 500.000

3,900

Dry Dock No.2 440 80 13,3 300.000

Zhoushan LongshanDry Dock No.1 235 40 11 70.000

900

Dry Dock No.2 310 55 13 200.000

Paxocean ZhoushanDry Dock No.1 400 106 13,7 500.000

576

Dry Dock No.2 380 80 13,7 400.000

Yeosu Ocean Ship Repair Dockyard

Floating Dock No.1 230 48 9

350Floating Dock No.2 155 25 7,5

Floating Dock No.3 129,4 23 6

Yards Facilities

Yards FacilitiesYard Length

(M)

Breadth

(M)

Depth

(M)

Capacity

(T)

Berth

(M)

Zhoushan Huafeng Shipyard

Dry Dock No.1 302 45 13,5 100.000

1,750Dry Dock No.2 420 68 14,5 300.000

Dry Dock No.3 400 80 14 300.000

Fujian Huadong Shipyard

Dry Dock No.1 295 50 14,4 170.000

1,300Dry Dock No.2 375 72 14,9 400.000

Dry Dock No.3 245 41.8 13,9 100.000

CSSC Guangzhou Wenchong Dockyard

Dry Dock No.1 360 65 13,3 300.000

2,000

Dry Dock No.2 300 74 13,3 200.000

Paxocean Singapore

Floating Dock No.1 122 22,8

900Floating Dock No.2 195 34,7

Floating Dock No.3 187,5 36,5

Paxocean Pertama, Indonesia

Floating Dock No.1 300 59

2,400

Floating Dock No.2 235 40

Floating Dock No.3 186 36,4

Floating Dock No.4 97 24

Recent Track Record

NO NAME TYPE YEAR DWT COMPANY

1 JBU Opal Chemical / Oil Tanker 2020 19,864 MERCURY MARSHALL LIMITED

2 MT Fido MR Tanker 2020 46,803 KAIZEN SHIP

3 KPS Irem Sultan Power Station 2020 8,727 KARMARINE KARDENIZ DENIZCILIK

4 MT Aura Chemical / Oil Tanker 2020 7,334 PRIME SHIPPING LLC-RUS

5 MT Ocean III Product Tanker 2020 45,672 MONTE NERO MANAGEMENT SA

6 MT Pacific Beryl Product Tanker 2020 47,377 EASTERN PACIFIC SHIPPING PTE

7 MV Cherokee General Cargo 2020 5,334 MISHA SHIPPING AGENCY

8 MV Chicago Harmony Bulk Carrier 2020 38,485 DOWA LINE AMERICA CO LTD

9 MV CL Antwerp Bulk Carrier 2020 33,687 CONTI-LINES NV

10 MV Ecoatlantic Bulk Carrier 2020 53,360 ECOCARRIERS MARITIME LTD

11 MV Eider S Bulk Carrier 2020 53,489 ARMADOR GEMI ISLETMECIGI

12 MV Martha A Container Ship 2020 33,796 CMA CGM SA THE FRENCH LINE

13 MV Metsovo Bulk Carrier 2020 57,593 HELIKON SHIPPING ENTERPRISES

14 Pergamon Seaways Ro-Ro Cargo Ship 2020 13,230 DFDS DENIZCILIK VE TASIMACILIK

15 Aspendos Seaways RoRo Ro-Ro Cargo Ship 2020 11,636 DFDS DENIZCILIK VE TASIMACILIK

16 MT Askholmen Chemical / Oil Tanker 2019 16,802 ALLIANCE MARITIME

17 MV MSC Shirley Container Ship 2019 29,840 CONBULK SHIPPING SA

18 MV MSC Rhiannon Container Ship 2019 29,840 CONBULK SHIPPING SA

19 MV Budva Bulk Carrier 2019 35,000 BARSKA PLOVIDBA AD

20 MV Kiran Asya Bulk Carrier 2019 66,832 PASIFIK GEMI ISLETMECILIGI

21 MT Emerald Oil Products Tanker 2019 47,302 SOCOMAR SRL

22 Single Eagle (Ro Ro) Vehicles Carrier 2019 3,845 RANA MARITIME SERVICES SA

23 MV Okee Alicia Container Ship 2019 23,419 OKEE MARITIME GMBH

24 MV Bar Bulk Carrier 2019 35,000 BARSKA PLOVIDBA AD

25 M/V Volzhsky 47 General Cargo 2019 5,017 NORTH-WESTERN FLEET

26 M/V Pavlovsk General Cargo 2019 5,375 LINTER LLC

27 MV Sedef Container Ship 2019 12,485 TURKON KONTEYNER TASIMACILIK

28 MT Kibaz Oil Products Tanker 2019 47,094 KIBAZ SHIPPING LP

NO NAME TYPE YEAR DWT COMPANY

29 MT Ocean Venture Chemical / Oil Tanker 2019 49,995 OCEANGOLD TANKERS INC

30 MT Falesia Chemical / Oil Tanker 2019 5,213 ELBANA DI NAVIGAZIONE SPA

31 MV Sormovskiy-48 General Cargo 2019 3,346 IS-BIR SHIPPING

32 MT Ardmore Chinook Chemical / Oil Tanker 2019 25,233 ARDMORE SHIPPING BERMUDA LTD

33 MV Wuhu Bulk Carrier 2019 39,182 CHINA NAVIGATION CO PTE LTD

34 MV Wuchow Bulk Carrier 2019 39,090 CHINA NAVIGATION CO PTE LTD

35 MV Oyster Container Ship 2018 9,503 NET DENIZCILIK TEKNIK HIZMET

36 Panther Container Ship 2018 33,439 ELEMENT SHIPMANAGEMENT SA

37 Leon Hermes Chemical / Oil Tanker 2018 40,165 LEON SHIPPING & TRADING SA

38 Lone Star Bulk Carrier 2018 35,000 WALLEM SHIPMANAGEMENT LTD

39 Avra 1 Bulk Carrier 2018 56,698 PALOMA SHIPPING CORP

40 MT Maersk Remlin Chemical / Oil Tanker 2018 34,530 V. SHIPS (GERMANY) GMBH

41 Moleson Bulk Carrier 2018 34,266 SUISSE-ATLANTIQUE SOC. DE NAVIGATION MARITIME S.A

42 MT Lefkara Chemical / Oil Tanker 2018 49,996 WORLD TANKERS MANAGEMENT PTE LTD,

43 Saffet Ulusoy Container Ship 2018 9,481 UN RORO ISLETMELERI A.S.

44 Und Ege Ro-Ro Cargo Ship 2018 9,865 UN RORO ISLETMELERI A.S.

45 Ibrahim Dede Container Ship 2018 26,811 KALKAVAN SHIPMANAGEMENT & CO

46 Pegasus Ace Ro-Ro Cargo Ship 2018 14,348 MOL SHIP MANAGEMENT CO., LTD

47 MT Zefyros Chemical / Oil Tanker 2018 50,155 BERNHARD SCHULTE SHIPMANAGEMENT

48 Baltic Captain I Chemical / Oil Tanker 2018 37,339 COLUMBIA SHIPMANAGEMENT

49 Leyla Kalkavan Container Ship 2018 12,123 KALKAVAN SHIPMANAGEMENT & CO

50 Ekaterina Bulk Carrier 2018 26,375 KOMA SHIPPING SERVICE LTD

51 Taokas Wisdom Bulk Carrier 2018 31,943 WISDOM MARINE GROUP,

52 Tanais Bulk Carrier 2018 7,078 DON RIVER SHIPPING JSC

53 MT Sea Rider Chemical / Oil Tanker 2018 35,775 SEAWORLD MANAGEMENT & TRADING INC

54 MSC Esha Container Ship 2018 12,854 MEDITERRANEAN SHIPPING CO SA (MSC)

55 Giovanni DP Chemical / Oil Tanker 2018 16,882 MARITIME PERFORMANCES BV

56 Mukaddes Kalkavan Container Ship 2018 26,811 KALKAVAN SHIPMANAGEMENT & CO

57 MV Cafer Dede Container Ship 2018 26,811 KALKAVAN SHIPMANAGEMENT & CO

Recent Track Record

Global Service Partners

Shipyards Suppliers Engineering

www.newportshipping.com

Global Presence

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This presentation is prepared by Newport Shipping UK LLP (“Newport” or the “Company”) and is current as at its date of publication, is

given in good faith and has been derived from sources believed to be reliable and accurate. Any implied figures or estimations are subject

to assumptions, risks and uncertainties. Actual figures may differ materially and you are cautioned not to place undue reliance on such

information. Subject to applicable law, we do not provide any warranty of accuracy or reliability in relation to information in this report or

accept any liability to any person who relies on it. This presentation provides general information only, and should not be construed as

financial advice. We have sent you this document in our capacity as a potential counterparty acting at arm’s length. Before entering into

any transaction you should take steps to ensure that you understand the proposition and have made an independent assessment of the

appropriateness of any transaction in the light of your own objectives and circumstances, including the possible risks and benefits of

entering into such a transaction. You should also consider seeking advice from your own advisers in making this assessment. You agree

that we shall not in any way be responsible for any resulting loss. This communication and the information contained herein are

confidential and may not be disclosed in whole or in part to anyone other than the intended recipients. Unauthorized reproduction,

distribution, transmission, display or publishing of all or any part of this material or the information contained herein in any form is strictly

prohibited without the Company’s written consent. Copyright © Newport Shipping UK LLP 2020. All rights reserved.

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