Seacor Marine Holdings Inc. · NYSE:SMHI
Seacor Marine — Investor Presentation (September 2017)
25 slides from Seacor Marine's investor presentation, Sep 26, 2017
Slide 1: SEACOR Marine Holdings Inc. Investor Presentation
SEACOR Marine Holdings Inc. INVESTOR PRESENTATION John Gellert, President and CEO
Slide 2: Forward-Looking Statement
Forward-Looking Statement SEACOR Marine This presentation includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Certain statements discussed in this presentation as well as in other reports, materials and oral statements that the Company re
Slide 3: Who We Are
Who We Are SEACOR Marine Owner and operator of diverse fleet of offshore support vessels with global presence ™ Distinctive and non-commoditized fleet ™ Focus on operational excellence and safety ™ Spun off from SEACOR Holdings Inc. in June 2017, listed on NYSE (Ticker: SMHI) ™ Well capitalized, glo
Slide 4: Our Strategy
Our Strategy SEACOR Marine @ Focuson niches or regions with limited participants / order book/ excess capacity coupled with growing demand Passenger Transfer Decommissioning Offshore Wind Standby Safety Shelf PSV support ™@ Middle East and Mexico = Consolidation = Assetrationalization = Costefficien
Slide 5: Our Culture
Our Culture SEACOR Marine @ Recognizedleaderin safety and quality @ SMHI is a Disciplined and Proactive Portfolio Manager @ Prudent leverage: We repay what we borrow m We focus on ROE = Facing reality: Conservative accounting = Book values intended to be reflective of realistic useful asset life @ E
Slide 6: Why Now?
Why Now? Sentiment for offshore activity seems to be turning SEACOR Marine General distress: numerous competitors have sought, bankruptcy protection “Consolidation necessary: will be “forced” due to lack of capital” (Tradewinds, Sept. 2016) “The challenge: ‘Opaque offshore vessel valuations a big hu
Slide 7: Global Presence — Robust and Diversified Reach
Global Presence — Robust and Diversified Reach SEACOR Marine United Kingdom North Sea (Standby) — (Windfarm Utility) United States (47) Middle East Asi Mexico, (26 } He (17) Brazil West Africa Co) ONE OF ONLY TWO GLOBAL OFFSHORE VESSEL OPERATORS As of July 31%, 2017
Slide 8: A Unique Collection of Assets
= Fast supportvessels (FSVs): growing demand for passenger transport § Liftboats: demand growth driven by infrastructure maintenance, regulation and needto address ageing installations @ Standby safety: steady demand = Wind farm utility vessels: resilient earnings in expanding offshore renewables an
Slide 9: SEACOR's Demand Drivers
SEACOR’s Demand Drivers - Drilling is the sizzle SEACOR Marine but Production and Maintenance is the meat Oiland Gas Ex in | Develop. | Production | Maintenance | Plug Drilling Driling ‘Abandonment Liftboat 15 x x x Psv 22 x x x x (<3,500DWT)* Psv 4 x x x (24,000DWT) Fsv 50 x x x x AHTS 23 x Xx x x
Slide 10: Favorable supply dynamic
Favorable supply dynamic nique assets/service, cost savings for customers Aluminum hull vessels built for speed (20 to 40+ knots) New US capacity is constrained by Clean Air Act emissions requirements Evolving designs and operating protocols: = Enhanced passenger comfort — Airline style pod seating
Slide 11: FSVs: Stable Earning Capacity within Market Cycle
FSV's (2): Stable Earning Capacity within Market Cycle SEACOR Marine @ Long Term Charters in International markets m Passenger Transport deeply integrated into customers operations @ Early moveradvantage: Pioneered use of catamarans in offshore—6 cats in operation, 40+ knot speed @& Margin improveme
Slide 12: Wind farm utility vessels: stable, recurring business
9] Stable, recurring business in a non-traditional offshore market —————— = 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 Eur
Slide 13: Liftboats
= Self-propelled, self-elevating stable work platforms. Operations in m= US. GOM (13 vessels) = Middle East (2 vessels) = Mission flexible for sheff locations: well intervention and workover, construction; platform maintenance and repair; diving operations; accommodations; and plug and abandonment /
Slide 14: Montco Transaction — Liftboat Fleet
Montco Transaction — 6 Liftboat Fleet SEACOR Marine Strategic Transaction — Expands Growth Opportu: = Montco Offshore, Inc.: Chapter XI - Pending Plan of Reorganization = Combines Montco and SEACOR's liftboat fleets into new entity; debt restructured on non- recourse basis & Integrates six US flag l
Slide 15: 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 9678 9,945 10
Slide 16: AHTS vessels
™ US. GOM is SEACOR's primary AHTS market — 10 vessels — Two operators in US — No deliveries since 2012; no newbuilds under construction or on order 1 Utlization depressed, rates “acceptable”: incremental activity highly accretive to results Recovery drivers: Drilling and Plug and abandonment / Deco
Slide 17: 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 ™ Current series under constructions: 6 vessels of 221 feet m™ US built = Competitive in international markets = 2in Mexico = 2in West Africa =
Slide 18: SMHI JVs — Hidden Value & Meaningful Asset Base
SMHI JV’s — Hidden Value & Meaningful Asset Base SEACOR Marine Strategic use of joint ventures / partnerships to Enhance market coverage: Angola, Saudi Arabia, Egypt, Mexico Project financing/risk sharing: limited partnerships in US and Norway (8 vessels) = Largest JV - MEXMAR Substantial asset base
Slide 19: CAPEX
CAPEX Focused on Underserved / Growing and Evolving Niches Building Vessels Unique to Market: Capitalizing on Downturn, Strengthening Position in Niche Businesses = Six Fast Support Vessels — SEACOR Marine ™ Build to meet current and growing demand for efficient and comfortable crew transport ™ Gran
Slide 20: Balance Sheet Highlights — Liquid, Stable and Positioned for Growth
SMHI — Balance Sheet Highlights — Liquid, Stable and Positioned for Growth SEACOR Marine (in millions) Mar-16 Jun-16___Sep-16 _Dec-16__Mar-17__Jun-17 Cash + Construction Reserve Funds 2626 228.0 194.4 195.5 2677 2188 Restricted Cash z e 14 15 18 18 Marketable Securities 23.9 22.2 22.9 40.1 os O7 Ava
Slide 21: Limited Near-Term Contractual Maturities
SMHI — Limited Near-Term Contractual Maturities SEACOR Marine Debt Maturities Debt Issue: Jun-17 2017-2018 ~~ 2019 ~—«2020 «2021 ~—=«-2022 ‘Thereafter 3.75% Carlyle Convertible Notes 175.0 - . . . . 175.0 - Falcon Global (Intl. Liftboats) ' 578 44 59 59 59 59 298 - Sea-Cat Crewzer | & II (Catamarans
Slide 22: Unique Platform and Uniquely Positioned
SEACOR Marine SEACOR Marine Unique Platform and Uniquely Positioned Financial capability coupled with an experienced, industry leading management team with a proven track record ‘@ = Astrongtrack record and global presence —robustand diversified global reach @ = Specialized fleet mix targeting produ
Slide 23: Thank You
SEACOR Marine Holdings Inc. THANK YOU
Slide 24: Appendix
SEACOR Marine Holdings Inc. APPENDIX
Slide 25: Reconciliation of DVP to Operating Income (Loss)
Reconciliation of DVP to Operating Income (Loss) SEACOR Marine ($'000s) 2012 2013, 2014 2015 2016 H12017 Fleet DVP: Fast support 33,407 38,507 25,824 «= 18,872 «22,478 1,547 Wind farm utility 12,395 12,789 12,755 12,757 11,638 6,306 Liftboats 42,151 45,200 28,258 (3,842) (5,531) (5,878) Standby safe
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