Thalassa Holdings Ltd · LSE:THAL

Thalassa — Investor Presentation (April 2016)

13 slides from Thalassa's investor presentation, April 2016

1. Slide 1: Investor Presentation April 2016

   INVESTOR PRESENTATION April 2016 Exploration and Beyond… working to increase the value and output of active reservoirs

2. Slide 2: Disclaimer

   Disclaimer • The content of this presenta5on has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 (“FSMA”). Reliance on this presenta5on for the purposes of engaging in investment ac5vity may expose an individual to a significant risk of losi

3. Slide 3: 2015 Overview

   2015 Overview • Strong opera5ng performance from WGP on the Statoil and TGS projects • Late data sales secured for the 2014 mul5-­‐client data set ($2.4m gross, $2.2m net) • New mul5-­‐year contract secured with ConocoPhillips due to commence Sep 16 • Progress on the ARL flying node development progr

4. Slide 4: 2015 Financial Highlights: Revenue and Gross Profit

   2015 Financial Highlights Group Results Revenue $m's $35.0 • Revenue up 22% to $18.9m (2014: $15.5m) $30.0 $25.0 • Gross Profit up 43% to $9.4m (2014: $20.0 20.3 $0.0 $6.6m) $15.0 $10.0 18.9 • Gross Margin up 17.6% to 50.1% (2014: 14.0 15.5 $5.0 0.4 2.3 10.3 42.6%) $0.0 2010 2011 2012 2013 2014 2015

5. Slide 5: 2015 Financial Highlights: Operating Profit

   2015 Financial Highlights Group Results Opera5ng Profit/Loss (EBITDA) $m's $6.0 • Opera5ng profit (EBITDA) $3.7m (2014: $0.2m) $5.0 $4.0 • Opera5ng margin 19.5% (2014: 1.2%) $3.0 4.9 • Underlying opera5ng profit (excluding ARL costs of $2.0 3.7 $0.6m -­‐ UEBITDA) $4.3m (2014: $1.0m) $1.0 2.0 0.2 1.2 $0

6. Slide 6: 2015 Financial Highlights: Net Profit/Loss

   2015 Financial Highlights Group Results Net Profit/Loss $m's $10.0 • Net Loss $12.3m (2014: loss $12.2m) $5.0 • Underlying net profit $1.3m (excluding ARL 1.2 4.4 $0.0 -­‐0.1 0.4 costs of $0.6m and write downs of $12.9m) 2010 2011 2012 2013 2014 2015 -­‐$5.0 -­‐12.3 • Underlying net margin 6.9% (2014:

7. Slide 7: 2015 Financial Highlights: Balance Sheet

   2015 Financial Highlights Balance Sheet Net Assets $m's $60.0 $50.0 • Book value $26.4m (2014: $39.4m) $40.0 following $12.9m write downs $30.0 $51.2 • Cash $20.3m as at 31 Dec 15 (2014: $20.0 $39.4 $10.0 $26.4 $17.7m) $0.0 $9.0 $10.3 • Debt $nil (2014: $nil) 2011 2012 2013 2014 2015 Net Cash $m's $

8. Slide 8: WGP Operational Highlights: Statoil and TGS

   WGP OperaGonal Highlights Statoil • Now in third full year of opera5on • System design improvements implemented winter 2014-­‐15 • Comple5on of 4 successful surveys to client’s sa5sfac5on • 9,600km of data acquired over the 2 fields in 2015 (2014: 6,000km) • Zero HSE incidents TGS • High resolu5on 3D

9. Slide 9: WGP Operational Highlights: Multi-client data sales

   WGP OperaGonal Highlights MulG-­‐client data sales • Late data sales secured on the 2014 mul5-­‐client data set • Client sales genera5ng gross revenue of $2.4m ($1.4m net) 9

10. Slide 10: WGP Operational Highlights

    WGP OperaGonal Highlights • Con5nua5on of the Statoil contract with deployment over Grane and Snorre fields in April 2016 • WGP successfully awarded a 5 year contract by ConocoPhillips (“COP”) on the Ekofisk field in the Norwegian sector of the North Sea requiring biannual marine acquisi5on and shore s

11. Slide 11: Autonomous Robotics Ltd Flying Node Development Programme

    Autonomous RoboGcs Ltd Flying Node Development Programme Further development of node with scale model completed and presented at SEG along with an anima5on of the concept • Detailed design of the first prototype node commenced Q4 2015 • External fund raising to commence post proof of concept…2016/201

12. Slide 12: Autonomous Robotics Ltd: ARL Flying node concept

    Autonomous RoboGcs Ltd ARL Flying node concept Front view of node concept View of node from beneath 12

13. Slide 13: Summary and Outlook

    Summary and Outlook • Con5nued challenging market condi5ons • Further cost control measures put into effect • Group well posi5oned to capitalise on market condi5ons • Recovery in demand should benefit the Group’s PMSSTM and HR3D solu5ons • Increasing interest in High Resolu5on 3D (P-­‐Cable) solu5ons

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