Ultrapetrol (bahamas) Limited · OTC:ULTRF

Ultrapetrol (bahamas) — Q3 2015 Earnings Presentation

25 slides from Ultrapetrol (bahamas)'s earnings presentation, Nov 12, 2015

  1. Slide 1: Third Quarter 2015 Earnings Call Presentation

    Version 5 - 11n0v15 19:00hs / ULTRAPETROL _/ (Bahamas) Ltd. — Third. Quarter 2015 Earnings-Call-Presentation November 12, 2015

  2. Slide 2: Forward Looking Statements & EBITDA Disclosure

    Forward Looking Statements & EBITDA Disclosure isclosure and analysis in this presentation concerning our operations, cash flows and financial position, including, in particular, ikelihood of our success in developing and expanding our business, include forward-looking statements, Statements that ar

  3. Slide 3: Ultrapetrol 3Q 15 vs. 3Q 14

    Ultrapetrol 3Q 15 vs. 3Q 14 Nine months ended Nine months ended 5, (000') September 30, 2015 September 30, 2014 Difference %Change 3015 SQ1K _Oiereace Revenues $276,403, $785,080 ($8,677) 2% $95,736 $99,358 ($3,622) ‘Adjusted EBITDA per segment River Business $18,818 $7386 11429 $9,417 4) 9.421 Ofsh

  4. Slide 4: Ultrapetrol (Bahamas) Limited

    / rd ULTRAPETROL lf] (Bahamas) Limited

  5. Slide 5: River Business Market Dynamics

    River Business Market Dynamics + Decrease in relevant commodity prices of the River Business resulting in decline of transport demand: * 18% drop in soybean prices on average ($422/ TN in 3Q 14 vs. $348/ TN in 3Q 15). + 40% drop in iron ore prices on average ($90/ TN in 3Q 14 vs. $64/ TN in 3Q 15).

  6. Slide 6: River Business Key Performance Indicators

    River Business Key Performance Indicators KEY PERFORMANCE INDICATORS INITIATIVE KPI 3Q 15 vs. 3Q 14 Variation « Increase assetutilization = Revenue (excluding fuel @ « 0.4ppincreasein asset adjustment)/ net book utilization value = Improve transittimes = Average barge transit time @ = 38.5% decrease

  7. Slide 7: Offshore Supply

    t/ = ULTRAPETROL j (Bahamas) Limited Offshore Supply

  8. Slide 8: Offshore Supply Business Market Dynamics

    Offshore Supply Business Market Dynamics = Low crude oil prices put pressure on CAPEX and spot rates in the North Sea ($97/ bbl in 3Q 14 vs. $47 / bbl in 3Q 15, 52% drop). + Petrobras is executing its previously announced $15.1 billion divestment plan. = Early termination of contracts with Petrobras

  9. Slide 9: Offshore Supply Business Market Dynamics

    Offshore Supply Business Market Dynamics Rig Utilization North Sea Average Spot Rates Petrobrasis targeting arig count of25 by mi aot aroun = coo Joni aamopennaes : it 105.0% ay sen 1 100.0% ye \ — ‘ 12,000 3m, 4 ose 1000 F sca Qu v : & sou £ orem : Boom B aco a pee 4000 2000 ° Setember20%8 Septemoe

  10. Slide 10: Offshore Supply Business Key Performance Indicators

    Offshore Supply Business Key Performance Indicators KEY PERFORMANCE INDICATORS INITIATIVE KPI 3Q 15 vs. 3Q 14 Variation = Protectrevenue stream = Revenue/ calendar days 8 = 11.5% decrease in revenue perday = Minimize unplanned off- = Offhire days/ calendar [x] = 23.8pp increase in offhire hire days

  11. Slide 11: Ocean Business

    t/ rt ULTRAPETROL I} | (Bahamas) Limited

  12. Slide 12: Ocean Business Update & KPIs

    Ocean Business Business Update & KPIs TANKERS - KEY PERFORMANCE INDICATORS INITIATIVE KPI 3Q 15 vs. 3Q 14 Variation = Protectrevenue stream = Revenue/calendardays = 27.0%increase revenue perday * Minimize unplanned off- «= Offhire days/ calendar (@« 5.1 pp decrease offhire hire days days CONTAINER F

  13. Slide 13: Balance Sheet

    Ultrapetrol Balance Sheet At September 30, At December 31, % (5000's) 2015 (Unaudited) 2014 Change ASSETS. Cash & Cash Equivalents $45,746 $34,982 31% Accounts Receivables 43,345 37.341 16% Operating supplies and inventories 14,694 4,030 265% Restricted cash 11,254 11,246 0% Other Current Assets 26.

  14. Slide 14: Thank You Q&A

    Thank You Q&A VA 14

  15. Slide 15: Uhr

    Appendix Uhr 45

  16. Slide 16: River Business - 3Q vs. 3Q

    Appendix River Business - 3Q 15 vs. 3Q 14 FINANCIAL HIGHLIGHTS RIVER Nine months ended Ninemonthsended — % Sais | Sam. % ($000's) September 30, 2015 September 30, 2014 Change Change Revenues 140,319 141,993 A% 48,351 48,698 1% Voyage and Manufacturing Expenses (59,231) (73,892) _-20% (18,464) (25.41

  17. Slide 17: Offshore Supply Business - 3Q vs. 3Q

    Appendix (cont'd) Offshore Supply Business - 3Q 15 vs. 3Q 14 FINANCIAL HIGHLIGHTS OFFSHORE SUPPLY Nine months ended __Nine months ended % % (3000's) September 30, 2015 September 30, 2014’ change 2218 3814 OM Change Revenues 85,597 90,075 (4,478) 5% 29,197 32,997 (3,80) 12% Voyage Expenses 3.349) 195

  18. Slide 18: Ocean Business - 3Q vs. 3Q

    Appendix (cont'd) Ocean Business - 3Q 15 vs. 3Q 14 FINANCIAL HIGHLIGHTS OCEAN Nine months ended Nine months ended % % (s000') September 30, 2015 September 30, 2014 PT change _°018 314MM Change Revenues $50,487 $53,012 ($2,525) 5% $18,188 $17,663 $525 3% Voyage Expenses (18,104) (14.989) (3.115) 21%

  19. Slide 19: Quarter-on-quarter Selected Statement of Operation Data

    Appendix (cont'd) Quarter-on-quarter Selected Statement of Operation Data Wine monthsended Hine months ended 5000's) September 30, 2015 September30, 2014 _"* “N#nge ane See Revenues ‘Atroutabl to Rher Business $140,319 su1g03 1% sHeast 548698, ‘Atrbutable to Ofsore Supply Business $85,597 90075 8% 5

  20. Slide 20: Quarter-on-quarter Income Statement

    Appendix (cont'd) Quarter-on-quarter Income Statement Nine months ended Nine months ended ($000's) September 30, 2015 September 30, 2014 2215 3014 Revenues $276,403 $285,080 $95,736 $99,358 Voyage Expenses (80,684) (93,837) (26,870) (32.573) Running Costs (108,310) (108,339) (36,132) (40,547) Deprec

  21. Slide 21: Accumulated Cash Flow and EBITDA Reconciliation

    Appendix (cont'd) [Accumulated Cash Flow and EBITDA Reconciliation] Nine months ended ($000's) sep-15 _sep-4 Total cash flows provided by operating activities 24.116 27.148 Total cash flows (used in) investing activities (21,977) (28,950) Total cash flows (used in) from financing activities 8.625 (2

  22. Slide 22: 3Q Operating Profit to Adjusted Consolidated EBITDA

    Appendix (cont'd) 3Q 15 Operating Profit to Adjusted Consolidated EBITDA (8000's) Third quarter ended September 20, 2015 i Offshore River “supply O¢e2n—TOTAL ‘Segment operating (loss) profit Depreciation and amortization $2,572 $7,879 ($1,904) $8,547 7,160 4,779 1,081 12.970 Investment in affiliates

  23. Slide 23: 3Q Operating Profit to Adjusted Consolidated EBITDA

    Appendix (cont'd) 3Q 14 Operating Profit to Adjusted Consolidated EBITDA Third quarter ended September 30, 2014 a river 342 ocean TOTAL tomentosa oss ot oan) seas) 62:80) Investment in affiliates / Net (loss) attributable to non- (280) = (16) (296) Net gains (loss) on derivatives = ¥ - 1 Yard Ebitda

  24. Slide 24: 9m Operating Profit to Adjusted Consolidated EBITDA

    Appendix (cont'd) 9m 15 Operating Profit to Adjusted Consolidated EBITDA Nine months ended September 30, 2015 Offshore River Ocean TOTAL (3000's) Supply ‘Segment operating (oss) proft (61.236) $22,673 ($4,522) $16,915 Depreciation and amortization 20874 «13.976 3484 38.304 Imestment in afliates / Ne

  25. Slide 25: 9m Operating Profit to Adjusted Consolidated EBITDA, Nine Months Ended September 30, 2014

    Appendix (cont'd) 9m 14 Operating Profit to Adjusted Consolidated EBITDA 1 months ended September 30, 2014 , Offshore (5000) River “Supply Ocean TOTAL ‘Seqment operating (loss) profit ($14,543) $23,963 $2,480 $11,900 Depreciation and amortization 20,123 12,587 SATA 38,184 investment in afiates / Net

Ultrapetrol (Bahamas) — Q3 2015 Earnings Presentation on 6ix