Seacor Marine Holdings Inc. · NYSE:SMHI
Seacor Marine — Pareto Securities' 25th Oil & Offshore Conference (September 2018)
35 slides from Seacor Marine's conference presentation, Sep 10, 2018
Slide 1: Pareto Securities' 25th Oil & Offshore Conference
SEACOR Marine Holdings Inc. PARETO SECURITIES’ 25™ OIL & OFFSHORE CONFERENCE John Gellert, President and Chief Executive Officer Jesus Llorca, Executive Vice President and Chief Financial Officer
Slide 2: Forward-Looking Statement
Forward-Looking Statement SEACOR Marine Certain statements discussed in this release as well as in other reports, materials and oral statements that the Company releases from time to time to the public constitute “forward-looking statements” within the meaning of the Private Securities Litigation Re
Slide 3: Who We Are
Who WeAre SEACOR Marine = Owner and operator of offshore support vessels = Global presence across five continents = Competitive fleet, well positioned for market upturn = Strong reputation with diverse customer base = Supermajors, independents and national oil companies = Solid financial position =
Slide 4: Our Strategy
Our Strategy SEACOR Marine Leverage economies of scale and scope across global platform and wide customer base Targeted go-to-market strategy matching customer needs with vessel type by region = Crew Transfer = Maintenance and Decommissioning = Offshore Wind = Standby Safety —North Sea = Shelf PSV S
Slide 5: Investment Highlights
Investment Highlights SEACOR Marine = Increased Direct Vessel Profit over past four quarters = Fleetutilization increasing and dayrates rising = Continuous fleet up-grading improves marketing success = Focus on high — value services = Access to all major offshore markets provides competitive intelli
Slide 6: Increasing Direct Vessel Profit (DVP)
Increasing Direct Vessel Profit (DVP") SEACOR Marine Four Consecutive Quarters of Growth (sinmitions) $16.00 10% $14.00 —_—” — $12.00 — $10.00 $147 $8.00 56.00 : 527% $4.00 $2.00 $0.00 = 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 = GROWTH ‘DVP is a non-GAAP financialmeasure. See slide 2 fora discussion of
Slide 7: Fleet dayrates and utilization
$8,431, Ty $6, ES $6,006 $5,649 022017 032017. «42017 «a1 2018 Total Fleet $8,565, 8 Total Fleet (excluding $9,071, ind farm ui $9,742 022018 ) 62% 60% S701 ee 56% 56% ££: ee msm B% 23% Q22017 Q3 2017 Q4 2017 Q12018 Q2 2018 MTotal Fleet = Total Fleet (excluding wind farm utility) 7
Slide 8: Strategic Fleet Mix
Strategic Fleet Mix SEACOR Marine any Crew an Transport FSVs \ Infrastruct i A ites ein (©) Emergency Standby Safety Response & Rescue Vessels * coer Crew Windfarm Utility Vessels ob Anchor-handling AHTS Vessels & Towing
Slide 9: Fleet by vessel type and recovery cycle
Liftboat x x x x x a Psv x x x x 23 (<3,500DWT)* Psv x x x 6 (>4,000DWT) Fsv x x x x x 49 AHTS x x x x 13 Standby x x x x x x a1 Windfarm utility X x x x x x 42 (WFUV) As of July 21%, 2018, Excludes four speciaty vessels. * Vessels ofess than 2,500 DWT in this category are also referredto inthis pre
Slide 10: Fleet by region and vessel type
United States (primarily Gulf of Mexico) 18% Europe (primarily North Sea) 31% 19% Brazil, Mexico, Central and South America 11% Middle East and Asia 21% * As of June 30, 2018. West Africa 9] Other ats 2 ag Liftboats 29% Fast Support Vessels 26% Supply 7% Wind Farm 10% Standby Safety 22%
Slide 11: Access to All Major Offshore Markets
Access to All Major Offshore Markets SEACOR Marine United Kingdom North sea (standby/supply) (Wind Farm Utility) United states e ] Cs) Middle East Mexico Central and South America (ex Brazil) Ce ] 6 Asia Brazil e * Asof June 30, 2018, "1
Slide 12: Methodical Investment/Divestment Strategy
Methodical Investment/Divestment Strategy SEACOR Marine = $230 million selectively invested over past 2 % years ahead of upturn = 33 vessels added to fleet = Deep discounts to replacement value = Distressed sales and JV structures = Minimal capital deployedinon-recourse debt delivering flexibility =
Slide 13: Technology is Key Competitive Differentiator
Technology is Key Competitive Differentiator SEACOR Marine = SEACOR Marine operates a diversified and versatile fleet of 179 vessels, including: = Diesel Electric AHTS Vessels = DP2 FSVs = Catamarans * — Liftboats = Platform Supply Vessels = Windfarm Support Vessels = — Hybrid power technology = Ene
Slide 14: JVs — Hidden Value & Meaningful Asset Base
JVs — Hidden Value & Meaningful Asset Base SEACOR Marine = Strategic use of joint ventures/partnerships to + Share project finance risk: limited partnerships in U.S., Norway and China (8 vessels in service) + Improve risk adjusted return + Enhance market coverage: Angola, Saudi Arabia, Egypt, Mexico
Slide 15: Montco JV — Expanded Growth Opportunity
Montco JV — Expanded Growth Opportunity SEACOR Marine * — Closedjoint venture with Montco Offshorein 1Q18 combining Montco and SEACOR Marine's liftboat fleets into a new entity = Expanded and enhanced SEACOR Marine’s offering in liftboat and premium PSV markets worldwide = Integrated six U.S. flag l
Slide 16: Ratio of long-term debt as a % of capital
9] Ratio of long-term debt' as a % of capital 46% 4 = Raised aggregate gross proceeds of $56.9 million from successful private placement of common stock and oe warrants = Completed conversion of $50 million aggregate principal of the Convertible Senior Notes into warrants for the purchase of 1,886,7
Slide 17: Manageable Debt Maturity Schedule
Manageable Debt Maturity Schedule SEACOR Marine (Sin millions) $300 $250 No major debt maturities until 2023 $200 $150 $100 $50 S52 $44.9 $43.3 - f« ff ff se —_ = 2018 2019 2020 2021 2022 $240.5 $115.5 Recourse $125.0 Non- recourse Years subsequent to 2022 17
Slide 18: Declining Capital Expenditures
Declining Capital Expenditures ¢ SEACOR Marine al CAPEX Spending and CAPEX Commitments* $120 $111.5 $100 $100.9 $83.5 lel $80 $69.0 $60 $40 $28.2 can [Janie $21.6 $0 | 2013 2014 2015 2016 2017 2018 2019 2020 = CAPEX Spending ($mm) = CAPEX Commitments ($mm) * Ag of June 30, 2018,
Slide 19: Steady Improvement in Net Book Value
Steady Improvement in Net Book Value ¢ SEACOR Marine $800 $723.4 $700 $619.7 $600 $500 $418.1 $400 $300 $200 $100 $0 2016 2017 2018 YTD + Ag of June 30, 2018, Excludes unconsolidated joint ventures,
Slide 20: Investment Highlights
Investment Highlights SEACOR Marine = Increased Direct Vessel Profit over past four quarters = Fleetutilization increasing and dayrates rising = Continuous fleet up-grading improves marketing success = Focus on high — value services = Access to all major offshore markets provides competitive intelli
Slide 21: Thank You Q&A
SEACOR Marine Holdings Inc. THANK YOU Q&A
Slide 22: Appendix
SEACOR Marine Holdings Inc. APPENDIX
Slide 23: Fast support vessels: aluminum hull crew transfer
Aluminum hull vessels built for speed (20 to 40+ knots) New U.S. capacity is constrained by Clean Air Act emissions requirements Evolving designs and operating protocols: = Enhanced passenger comfort = Airline style pod seating on tracks to configure to customer preference = USB charging port at eac
Slide 24: FSVs: Stable Earning Capacity Through Market Cycle
FSV's (2): Stable Earning Capacity wi Market Cycle SEACOR Marine = Long Term Charters in International markets = Crew Transport deeply integrated into customers operations = Early mover advantage: pioneereduse of catamarans in offshore—6 cats in operation, 40+knot speed = Margin improvement drivers:
Slide 25: Liftboats: self-elevating work platforms
Self-propelled, seff-elevating stable work platforms. Operations in: = U.S. GOM (16 vessels) = Latin America (3 vessels) = Middle East (2 vessels) Mission flexible for sheff locations: well intervention and workover; construction; platform maintenance and repair; diving operations; accommodations; a
Slide 26: Wind farm utility vessels
Aluminum hull catamarans, critical for maintaining offshore wind turbines = Capacity: from 12 to 24 passengers per vessel’ Largest operator of WFUV's with active presence in all relevant offshore wind energy markets in Europe Customericredit profile: mainly large utility companies Growth drivers/opp
Slide 27: Standby safety vessels
Regulatory mandated emergency rescue service = Complex Logistics: contracts require coverage of manned installations and platforms 24/7/365 = SMHI operations concentrated in southern sector of UK North Sea = Opportunity: Market with few participants and probable consolidation Dayrate 9945 10.819 10,
Slide 28: AHTS: U.S. GOM primary market
= U.S. GOM is SEACOR Marine's primary AHTS market 6 vessels + Two operators in U.S = No deliveries since 2012; no newbuilds under construction or on order + Utlization depressed, rates “acceptable”: incremental activity highly accretive to results + Recovery drivers: Drilling and + Plug and abandonm
Slide 29: Handy size PSVs
= “Handy” is < 2,500 tons deadweight, and length < 230 feet = Prior series built of handy size = 6 vessels 201 feet; one sold in 2015, 5 remaining all active ™ 3vessels 221 feet; all active = Current series under constructions: 3 vessels of 221 feet = US. built: = Competitive in international market
Slide 30: CAPEX: Focused on Underserved / Growing Niches
CAPEX ‘ Focused on Underserved / Growing and Evolving Niches SEACOR ai = Four Fast Support Vessels a = Build to meet current and growing demand for efficient and comfortable crew transport = Grandfathered under U.S. emission requirements. No additional capacity being added = Deferring deliveries pos
Slide 31: Balance Sheet Highlights
SMHI — Balance Sheet Highlights — Liquid, Stable and Positioned for Growth SEACOR Marine (in millions) Mar-17 Jun-17___Sep-17__Dec-17__Mar-18__Jun-18 Cash + Construction Reserve Funds 267.9 2188 1758 155.6 108.1 124.4 Restricted Cash 18 18 16 23 23 19 Marketable Securities 08 O7 = = 3 = Available Li
Slide 32: Limited Near-Term Contractual Maturities
SMHI — Limited Near-Term Contractual Maturities SEACOR Marine Debt Issue: Jun-18 2018 2019 2020 2021 2022 2023 Thereafter Carlyle Convertible Notes 125.0 - - - - - 125.0 - Falcon Global (Intl. Liftboats) 51.9 3.0 59 59 60 311 - - Falcon Global USA (Liftboats) 126.1 - - 8.0 Hf 97 os 89.0 Sea-Cat Crew
Slide 33: Reconciliation of Consolidated Direct Vessel Profit to Operating Income
SMHI — Reconciliation of Consolidated Direct Vessel Profit SEACOR Marine (DVP) to Operating Income (Loss) 2013 2014 2015 2016 2017 H1 2018 ‘Time Chatter Statistics: Average Rates Per Day S$ 11609 $ 2011 $ 10079 $§ 7114 S$ 5972 S$ 7,174 Fleet Utilization 83% 81% 60% 54% 54% 58% Fleet Available Days 5
Slide 34: Management Team
Management Team SEACOR Marine John Gellert- President, Chief Executive Officer, and Director Mr. Gellert has been President and Chief Executive Officer since our formation and a member of our board of directors since June 1, 2017. In his previous appointment, Mr. Gellert was Co-Chief Operating Offic
Slide 35: Management Team
Management Team SEACOR Marine Anthony Weller— Senior Vice President and Managing Director, International Division Mr. Weller has been Senior Vice President and Managing Director of our international Division since June 1, 2017. Prior to his appointment and since 2009, Mr. Weller served as Managing D
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