Slide 1: Ultrapetrol (Bahamas) Ltd.
ULTRAPETROL (Bahamas) Ltd.
Slide 2: Forward Looking Statements & EBITDA Disclosure
Forward Looking Statements & EBITDA Disclosure enditures, they ‘as of the date Factors that might cause future results to differ include, but are not limited to, the following: ~ unexpected future operating or financial results pending or recent acquisitions, deviations from our business strategy or
Slide 3: 2Q 2012 & Subsequent Events Highlights
Ultrapetrol 2Q 2012 & Subsequent Events Highlights ‘Six months ended ‘Six months ended % sare 6000's) ‘June 20,2012 June 32011 change Revenues $144,035, $128,204 ‘me $79,807 Adjusted EBITDA $10,911 $24,572 Qe $9850 Net (oss) as reported 919,217) 14.614) 3% (85,390) EPS as reported (n $ per share) (3
Slide 4: 2Q 2012 Adjusted EBITDA vs. 2Q 2011
Ultrapetrol 2Q 2012 Adjusted EBITDA vs. 2Q 2011 Adjusted EBITDA per segment 2012 2011 Difference _% Change River Business 5367 5 B54 (487) 8% Offshore Supply Business art 4682 2.189 47% ‘Ocean Business 648 1614 (966) = 80% ‘Total Segment Aqusted FONDA siamoo__vintg0_——‘37 ioe ‘tems not included in S
Slide 5: Historical Consolidated EBITDA and 2012 Guidance
Ultrapetrol Historical Consolidated EBITDA and 2012 Guidance Historical Adjusted Consolidated EBITDA aki 613 2010 Important events in the 2H 2012 that will contribute to this expected resul = In spite of the severe drought experienced soo $660 during the flowering season of the soybean $540 crop if
Slide 6: Ultrapetrol (Bahamas) Limited
'/r @ ULTRAPETROL ff (Bahamas) Limited
Slide 7: River Business: 2Q 2012 vs. same period of 2011
River Business 2Q 2012 vs. same period of 2011 EMAC NIGH CMTS AMER Sixmonths ended Sixmonths ended = oq) 2041 Not Tons Trans ported 1774045 2192227 19% «110500 4190017 7% Revenues $71,128 $698.11 2% $41,744 $38,536 8% Voyage and Manufacturing Expenses 5335 Gani 24% _ 20351) Gi 11% Gross Margin si776
Slide 8: River Business: Paraguayan soybean prospects & price evolution
River Business Paraguayan soybean prospects & price evolution Paraguayan Seeded Area & Production ®) Monthly Soybean Prices — Jul 09 - Jul 12 (in$ per metric tony) mSeeded Area Million Hectares & Tons ‘2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 ee a ee "USDA figures for Paraguayan s
Slide 9: River Business: Corumba Region Iron Ore prospects & price evolution
River Business Corumba Region Iron Ore prospects & price evolution Hidrovia Regional Iron Ore Production Monthly Iron Ore Prices — Jun 09 - Jun 12 (In$ per dry metric tony 187 ont ‘2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Jun-09 Dec09_—Jun-10-«Dec-10.—Jun-11. Dect. Jun-t2 2) «= Ir
Slide 10: Offshore Supply
t/ y ULTRAPETROL (Bahamas) Limited Offshore Supply ! :
Slide 11: Offshore Supply Business: 2Q 2012 vs. 2Q 2011
Offshore Supply Business 2Q 2012 vs. 2Q 2011 FINANCIAL HIGHLIGHTS OFFSHORE SUPPLY Six months ended Sixmonths ended % % (8000's) June 30, 2012 June 30,2011 Change 20172014 change Revenues 35,170 27868 We 18442 14991 21% Voyaye Expenses (2.046) (1691) 21% @33) @07) 3% Running Costs (17,388) (15038) 16
Slide 12: Petrobras' Oil production evolution & CAPEX Program
Offshore Supply Business Petrobras’ Oil production evolution & CAPEX Program 1,950 Petrobras’ total oil production in Brazil Petrobras’ Historical CAPEX ¢?) ee 2014.20 Pho: 7 mEGP aTotal $224.7 billion g 1.050 fm E8P 20122016 $127 57 billion <— a im a Tos 20122016 ag 2 2 51750 700 1 ee0 5 2004 2005
Slide 13: Fleet List & Upcoming charter renewals
Offshore Supply Business Fleet List & Upcoming charter renewals ‘DThree charter renewals are due in 2005 Chartered 2012 (all Brazilian UP Esmeralda 4.200 e40n? 2005 Brazil Chartered Feb-13 flag vessels) - UP Jasper 5,260 1,020? 2011s North Sea Chartered Mar13 expected to be re- UP Rubi 4.200 840 mr?
Slide 14: Ultrapetrol (Bahamas) Limited
ULTRAPETROL 97 Bahamas) Limited ir
Slide 15: Ocean Business: 2Q 2012 vs. 2Q 2011
Ocean Business 2Q 2012 vs. 2Q 2011 (Eeamca monusiTs ocean Sixmonths ended Sixmonths ended re Revenues ssr737 sats 22% si9stt st64a2 19% Voyage Expenses (14507) e476) 54% E37) (6185) 8% Running Costs (16 988) (14681) 16% (8964) (8023) 12% Administrative and commercial expenses ©423) B64) 66% G76) (1,
Slide 16: Feeder Container Trade Evolution
Ocean Business Feeder Container Trade Evolution Total Revenues ~2Q 2011 vs.2Q2012 Feeder Container Vessels — MV Asturiano & MV Argentino 120) = Performance of our feeder container service has been strong during 100 the second quarter of 2012 mainly as @ result of volume and tariff increases 2 80 3 a
Slide 17: Quarter-on-quarter Selected Statement of Operation Data
Ultrapetro! Quarter-on-quarter Selected Statement of Operation Data Sx montis ended Sinrnorthe ended 6000s) June 30, 2012 june30, 2014 Change fa I 3) Revenes ‘Atrouableto River Business $7128 2% saya $93598 ‘tiiadable to Otshore Surly usinese 35170 a 1814214994 ‘attbtable fo Ozean Business Br737 2%
Slide 18: Quarter-on-quarter Income Statement
Ultrapetro! Quarter-on-quarter income Statement Six months ended Six months ended (5000's) June 30, 2012 June 30, 2011 2982 2am Revenues $144,035 $128,204 79.497 $69972 Voyage Expenses 6505) (48284) 8421) 4831) Running Costs (68,485) (49,523) (30.463) (26,980) Depreciation and amortization (21,051)
Slide 19: Balance Sheet
Ultrapetrol Balance Sheet 7 ‘Atdune 30,2012 ‘AtDecember31, ¥ (s000's) Wnaudited) 2014 Chang ASSETS Cash & Cash Equivalents $18,127 $34 096, 47% Accounts Receivables 41,830 30993, 35% Other Current Assets 49,343 an pas 20% Vessels and Equipment, Net 667,141 671 ads 1% Non-current Other Receivables 21
Slide 20: Debt Repayment Schedule
Ultrapetrol Debt Repayment Schedule * Natixis portion of our Indian PSV financing is shown as current due 2012 while a new long-term financing is being organized = Balanced yearly principal repayments in the medium term * Our $180.0 million note does not have any loan to value ratios to be maintaine
Slide 21: Thank You
Thank You Q&A ir 21
Slide 22: Appendix: Accumulated Cash Flow and EBITDA reconciliation
Appendix Accumulated Cash Flow and EBITDA reconciliation Six months ended (5000's) Jun? dJun-t4 Total cash ows provided by operating actwines CaN Eas) Total cash flows (used in) investing activities (21952) @BB20) Total cash flows (used in) from financing activities 9200 1 pba Total cash flows from
Slide 23: 2Q 2012 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont’d) 2Q 2012 Operating Profit to Adjusted Consolidated EBITDA Second quarter ended June 30, 2012 £$000's) River___ Offshore Supply __ Ocean TOTAL Segment operating (loss) profit $369 $4486 ($1,467) $3,388 Depreciation and amortization 5369 2664 2536 10.859 Investment in affiliates / Net
Slide 24: 2Q 2011 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont’d) 2Q 2011 Operating Profit to Adjusted Consolidated EBITDA Second quarter ended June 30, 2011 {S000's) River__ Offshore Supply Ocean TOTAL Segment operating (loss) profit $1546 s2516 ($725) $3,338 Depreciation and amortization 4p 2241 2005 9377 Loss on write-down vessels. 5 < : Inves
Slide 25: 1H 2012 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont’d) 1H 2012 Operating Profit to Adjusted Consolidated EBITDA Six months ended June 30, 2012 (8000's) River__Offshore Supply __Ocean_TOTAL Segment operating (loss) profit 65.157) $9524 ($4,062) ($595) Depreciation and amortization 1076 5233 5042 (21,051 Investment in affiliates / Net (l
Slide 26: 1H 2011 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont’d) 1H 2011 Operating Profit to Adjusted Consolidated EBITDA Six months ended June 30, 2011 (8000's) River__Offshore Supply __Ocean__TOTAL Segment operating (loss) profit $3868 $3963 ($1,879) $5,952 Depreciation and amortization 9549 433 ABAS 18.577 Investment in affliates / Net (loss)