Ultrapetrol (bahamas) Limited · OTC:ULTRF
Ultrapetrol (bahamas) — Global Shipping Conference 2011
28 slides from Ultrapetrol (bahamas)'s conference presentation, Sep 7, 2011
Slide 1: Global Shipping Conference, New York, September 7, 2011
ULTRAPETROL (Bahamas) Limited Global’ Shipping Conference New York, September 7, 2011
Slide 2: Forward Looking Statements & EBITDA
1/7 Forward Looking Statements & EBITDA Factors that might cause future results to differ include, but are not limited to, the following: = unexpected future operating or financial results = delays or increased costs in pending or recent acquisitions, deviations from our business strategy or unexpec
Slide 3: Over 130 Years of Experience in Various Shipping Sectors
Over 130 Years of Experience in Various Shipping Sectors Formation and Early Years Expansion / Growth Financing Significant Growth as a Public Company = Founded by | « Started regular | “| issued $135 | = IFCloanfaciities | « Initial 2PSVs | « $97 million | = Punta Alvear Mr. Jose Liner Service | Ul
Slide 4: Ultrapetrol — Diversified transport & logistics company
Ultrapetrol — Diversified transport & logistics company + River Business: Transport of commodities through the Hidrovia River System by means of Barges & = 621 barges and 33 pushboats ~ Approx. 33% market share ‘= Multinational customer base = Multi-year, US dollar-denominated contracts Pushboats =
Slide 5: Growth Initiatives under way on very favorable market conditions
Growth Initiatives under way on very favorable market conditions Seven vessels currently employed to Petrobras on long-term, profitable rates + one en route to North Sea t Double Offshore Supply Fleet () Brazil transiting through unprecedented growth in sap offshore exploration which will have globa
Slide 6: Ultrapetrol
i \ ULTRAPETROL
Slide 7: Hidrovia: Comparison with the Mississippi River
Hidrovia: Comparison with the Mississippi River
Slide 8: River Business Summary
River Business Summary UABL, our subsidiary in the River Business, currently holds approximately 33% of market share 33 pushboats amounting to.a total pushing capacity of approximately. 123,000 BHP 544 dry barges with a Static capacity, of approximately 930,000 tons 77 tank barges with a static capa
Slide 9: Typical Cargo Mix and Market Share
Typical Cargo Mix and Market Share Our Average Typical Cargo Mix (") UABL's Market Share Petroleum Products 13% Others (15+) Iron Ore 13% Competitor A 13% Competitor B 10% = _UABL Market Leader > Market'share ; and fleet Capacity allows fora {feito (as opposed to dedicated convoys) and certain contr
Slide 10: Continuing context of strengthening commodity production & prices
Continuing context of strengthening commodity production & prices Paraguayan Seeded Area & Production (1 Hidrovia Regional Iron Ore Production () Seeded Area Production n Hectares & Tons oft Nee anaoroo Production (In Million Tons) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010" Monthly Iron
Slide 11: Barge Age Profile of Hidrovia Fleet
Barge Age Profile of Hidrovia Fleet In four years, 849 barges will be in the scrapping zone of which approximately 22% (185 barges) belong to us gar leek has not reached the int ¢ hetrusetul life older bai productior S 1 “\ 77 este (50E. Sr iphadel Eorlaudtdnsy an of WABIAG: Keardgn that beeps bean
Slide 12: Most Modern Automated Barge Building Shipyard in South America
Most Modern Automated Barge Building Shipyard in South America = Yard produced 21 jumbo tank barges'until February 2011 (close to 60% rowth 2nd 2009 erheel fleet capes ellie has been producing jumbo dry barges thereafter (1 Jumbo = 1.66! sissipp type ges) = As of June 30, 2011, total static capacity
Slide 13: Re-engining Program Status
Re-engining Program Status Pushboats currently operating under fuel-oil = Zondal = Cavalier X Pushboats to be operational in 3Q 2011 = Pamperol! Seven additional pushboats to be re-engined “4 Asuncion. as part of our program Se <P ns) ny o = oe fs} rg 2 = a Heavy Fuel / Diesel - price gap 3 _ contem
Slide 14: Offshore Supply
MB ssesccr0. Offshore Supply age
Slide 15: Young and hi-spec Offshore Supply Fleet
Young and hi-spec Offshore Supply Fleet Fleet in Operation Vessel Capacity (dwt) Deck Area Year Built___Market Status Approx. Expiry UP Safira 4,200 840 m* 2005 Brazil Chartered Feb-13 UP Esmeralda 4,200 840 m? 2005 Brazil Chartered Feb-13 UP Topazio 4,200 840 m? 2006 Brazil Chartered Sep-12 UP Agua
Slide 16: Brazilian & Petrobras' Growth Context
ii \ Brazilian & Petrobras’ Growth Context = Brazil's crude oil production is growing three times faster than the rest of the world = Oil exploration has become increasingly complex, requiring exploration & extraction to be held at greater and greater depths (pre- salt layer) and at greater distance
Slide 17: Petrobras' $225 Bn CAPEX Program continues as planned
Petrobras’ $225 Bn CAPEX Program continues as planned = Brazilian demand for PSVs in conjunction with a limited supply of these vessels is pushing day rates up = As Petrobras continues its offshore exploration and enhances its operations, PSV demand is expected to remain strong Delivery Plan (to be
Slide 18: Offshore Supply Business Update
Offshore Supply Business Update = We currently employ 7 PSVs in Brazil on 1-4 year remaining contracts with Petrobras at strong rates (2) Petrobras Large PSV (+4,500 dwt) Fixtures in North Sea & Brazilian Daily Average Gross Earnings es Brazil since 2006 for our fleet ©) 35,000 30,000 25,000 3 20,00
Slide 19: Offshore Fleet GPC Growth Potential
Offshore Fleet GPC Growth Potential Gross Profit Contribution") of PSV Fleet (Sinmitons) $100 $90 $26.3 Oo $78.4 $708 eae $62.6 ‘2 $60 $547 é $50 8 & s40 $30 $20 $10 $0 —— = = $26,000 $28,000 $30,000 $32,000 $34,000 2 2011 Average Gross Earnings: peeteanl) $29,567 | Day jasis 12 Vessels 19 (1) Gross
Slide 20: Ultrapetrol
ULTRAPETROL
Slide 21: Ocean Business Update
Ocean Business Update Tanker Vessels = Our Tanker vessels are under term contracts with oil majors and operate in cabotage flag-restricted trades providing transport services to local refineries = — Relatively stable operating environment Container Vessels = We currently operate a fleet of two conta
Slide 22: Aggregate 2015 Estimated Pro-Forma EBITDA
Aggregate 2015 Estimated Pro-Forma EBITDA River Business Proforma 2015 Assumptions 41H & FY 2011 Estimate and Proforma EBITDA 2015 = Barge annual rotation as per historical ‘py average = Flat average freight per ton based on current contract prices with clients = Estimated tons transported 2015: 7.4
Slide 23: General Company Updates
General Company Updates Ultrapetrol has laid the foundation of its future growth with a 5-year investment plan CAPEX Plan: * Ultrapetrol has invested (and is continuing to invest) approximately $550 million across its business segments over the last 5 years (2007-2011) Historical Consolidated CAPEX
Slide 24: Future CAPEX Program
Future CAPEX Program Second Half 2011 CAPEX Program FY 2012 CAPEX Program = $26.2 million in our River Business . n in our River Business = $4.4 million in Indian PSV construction . nin Indian PSV construction = $2.0 million in drydocks * $2.2 million in drydocks TOTAL: $32.6 million TOTAL: $82.0 mi
Slide 25: Bet INZIN INN AN IIe
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