Sølvtrans Holding ASA Q Oslo, 14 August Roger Halsebakk, CEO Jon Kvalø, CFO

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1 Sølvtrans Holding ASA Q Oslo, 14 August 2012 Roger Halsebakk, CEO Jon Kvalø, CFO

2 1 Highlights in the quarter 2 Financial review 3 Operational and market review 5 Summary and outlook 6 Appendix

3 Highlights 2 nd quarter 2012 Continued growth in revenues and results, EBITDA up 21% YoY Operations in Chile on track no off hire days since startup 96% utilization New build Ronja Polaris according to plan Contract signed with Marine Harvest for Ronja Polaris

4 1 Highlights in the quarter 2 Financial review 3 Operational and market review 5 Summary and outlook 6 Appendix

5 Financial highlights 2 nd quarter 2012

6 Operating results 2 nd quarter 2012 NOK mill. Q Q Operating income EBITDA EBITDA margin 53.8 % 46.9 % EBIT Net financial items Pretax profit NOK mill. YTD 2012 YTD 2011 FY 2011 Operating income EBITDA EBITDA margin 46.5 % 41.6 % 48.2 % EBIT Net financial items Pretax profit Operating income up 6% vs Q211 Stable utilization ratio of 96% Operating expenses down 8% vs Q211 Strong focus on cost and efficient operations Continued EBITDA growth, up 21% YoY Further improvements in EBITDA margin EBIT of NOK 26.7 mill Goodwill write down of NOK mill last year Net financial items of NOK 15.0 mill Unrealized agio/derivative loss of NOK 7.6 mill

7 Balance sheet 30 June 2012 NOK mill Fixed assets Other current assets Cash Total 1,068 1,076 1,049 NOK mill Equity Non current liabilities Current liabilities Total 1,068 1,076 1,049 Cash of NOK 63 mill Dividend pay out of NOK 6 mill in Q2 Paid 23 mill on vessel under construction in Q2 and 46 mill YTD from own cash pool Trade receivables remains low at NOK 28 mill Reduced with NOK 5.0 mill since year end Vessels with book value of NOK 908 mill Market value of NOK 1,200 NOK 1,300 mill NIBD of NOK 565 mill NIBD / 12 month rolling EBITDA = 4.1 Equity ratio of 31.3% 3%

8 Cash flow 1 st half Cash flow Q of NOK 0.9 mill Operating cash flow of NOK 33.5 mill improved with 20.9 mill NOK vs Q211 Investments of NOK mill Dividend payment of NOK 6.0 mill Cash and bonds at EBITDA Net finance outflow Change in working capital Net investm. Loan repayment Dividend payment Other changes Cash and bonds at Cash hflow YTD 2012 of NOK 15.6 mill Operating cash flow of NOK 47.7 mill improved with 28.9 mill NOK vs YTD 2011 Net investments of NOK 53.9 mill Utilized NOK 11.8 mill from high interest bond placement Loan re payment of NOK 3.5 mill

9 Group financial profile Terms and conditions Margin influenced by NIBD/EBITDA ratio Covenants related to: NIBD/EBITDA Equity ratio Working capital level Covenant ratios by NIBD/EBITDA: 4.1 Equity ratio: 31.3% 3% Working capital: NOK 51.2 million Equity ratio % 29.8 % 30.1 % 30.9 % 31.0 % % Working capital (NOK million) Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 NIBD/EBITDA (12m rolling) Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

10 1 Highlights in the quarter 2 Financial review 3 Operational and market review 5 Summary and outlook 6 Appendix

11 Fleet performance Utilization rate Number of off hire days 100% 90% 92% 95% 93% 97% 96% 96% 92% % 70% 80% 75% 80% % % 50 40% Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 *Number of days with vessel revenue / total number of vessel days Incidents Maintenance Market related

12 Contract activity Contracts with Marine Harvest Norway Ronja Polaris, vessel under construction, for years from delivery in June 2013 Ronja Atlantic extended until delivery of Ronja Polaris Ronja Superior extended for years from 1 Jan 2014 Scottish Seafarms extends contracts Use of option for 1 year for Ronja Skye and Ronja Settler from 1 Jan 2013 Contract coverage per 14 August 97% 70% 37% 27%

13 Contract status per 14. august 2012 Vessel name Capacity (m 3 ) Year bilt built Type * Lice equiped Country Employment to per Ronja Polaris Closed X Under constr. Medio Ronja Atlantic Closed X Norway Medio 13 Ronja Nordic Closed X Nor / Scot. Dec 13 Ronja Harvester Closed X Norway Dec 12 Ronja Superior Closed X Norway Dec 16 Ronja Pioneer Closed Scotland Dec 13 Ronja Viking Closed Scotland Nov 14 Ronja Commander Closed Scotland Dec 13 Ronja Carrier X Canada Dec 12 Ronia Pacific Chile May 14 Ronja Settler Sttl Closed Scotland Dec 1 13 Roy Kristian X Nor / Scot. Spot Ronia Austral X Chile May 15 Ronja Skye Closed Scotland Dec 13 * "Closed" means that the vessel has systems for closed and controlled operations, without spills and with controlled temperature and oxygen to secure animal welfare and best possible quality on slaughter fish. Contract Under construction Charterer's option

14 Sølvtrans Market Overview Canada East: One vessel on contract until Scotland: Norway: Seven vessels in operation p Currently 3 vessels, all with closed valve, in operation Increased biomass volume Increased focus on long term charters Increased bio security focus Dec 2012 Prioritized market Norway Scotlan nd Canada East Chile: Two vessels in operation from April 2012 Strong demand for wellboat services Chile

New vessel Ronja Polaris on schedule Delivery scheduled to end of June 2013 Construction progress according to specification and plan with no

15 New vessel Ronja Polaris on schedule Delivery scheduled to end of June 2013 Construction progress according to specification and plan with no delays Financing according to contract 10% prepaid in Q2, 20% YTD Remaining80% on delivery Close follow up, on site and from own project manager

16 Modern fleet with leading technology 3000 m3 1 vessel under construction. To be delivered June 2013 State of the art all necessary equipment for efficient operations Closed valve system specially equipped for filtering all circulation water 1900 m3 2 vessels Closed Valve system and RSW All equipped for lice treatment 1000 m3 5 vessels Closed Valve system and RSW All equipped for lice treatment 650 m3 6 vesselss Open and Closed Valve system and RSW Some equipped for lice treatment

17 1 Highlights in the quarter 2 Financial review 3 Operational and market review 5 Summary and outlook 6 Appendix

18 Outlook Short to medium term Continued growth in salmon production Increased bio security focus Expects stable performance going forward Long term Positive outlook oo for ta transportation spotato of live fish, world wide growth in aquaculture Strong demand for larger vessels with modern technology, to meet and to be prepared for stricter regulations Chile market will continue to move towards more modern and bio secure wellboats

19 Summary Continued growth in revenues and results continuous improvements in operations Chile operations on track no off hire da ays since startup Strong contract coverage long term contract secured for vessel under construction Construction progress for Ronja Polaris according to plan

20 Th k you for Thank f your y attention! tt ti! History.. now w 3rd quarter will be presented 7th November the future

21 1 Highlights in the quarter 2 Financial review 3 Operational and market review 5 Summary and outlook 6 Appendix

22 Key Financials NOK mill Q Q YTD Operating income and other revenue EBITDA EBIT Net financial items Profit or loss Cash flow from operations 33 Net cash flow Total assets Equity Net interest bearing debt (NIBD) Cash and cash equivalents Working Capital NIBD / EBITDA (12 month rolling) 4,1 6,8 4,1 4,3 6,7 8,8 7,8 EBITDA margin 54 % 47 % 47 % 48 % 33 % 39 % 51 % Equity ratio 31,3 % 29,8 % 31,3 % 30,8 % 30,0 % 17,9 % 11,1 % Earnings per share in NOK 0,70 0,98 0,96 0,09 0,06 4,60 Equity per share in NOK 18,40 17,,65 18,40 17,82 18,46 10,45 5,89

23 Disclaimer This Presentation includes and is based, inter alia, on forward looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. Such forward looking information and statements are based on current expectations, estimates and projections about global economic conditions, the economic conditions of the regions and industries that are major markets for Sølvtrans Holding ASA and its subsidiaries. These expectations, estimates and projections are generally identifiable by statements containing words such as "expects", "believes", "estimates" or similar expressions. Important factors that could cause actual results to differ materially from those expectations include, among others, economic and market conditions in the geographic areas and industries that are or will be major markets for Sølvtrans Holding s businesses, salmon prices, oil prices, market acceptance of new products and services, changes in governmental regulations, interest rates, fluctuations in currency exchange rates and such other factors as may be discussed from time to time. Although Sølvtrans Holding ASA believes that its expectations and the information in this Presentation were based upon reasonable assumptions at the time when they were made, it can give no assurance that those expectations will be achieved or that the actual results will be asset out in this Presentation. ti Sølvtrans Holding ASA nor any other company within the Sølvtrans Holding Group is making any representation or warranty, expressed or implied, as to the accuracy, reliability or completeness of the information in the Presentation, and neither Sølvtrans Holding ASA, any other company within the Sølvtrans Holding Group nor any of their directors, officers or employees will have any liability to you or any other persons resulting from your use of the information in the Presentation. Sølvtrans Holding ASA undertakes no obligation to publicly update or revise any forward looking information or statements in the Presentation.

Sølvtrans Holding ASA Q Oslo, 7 November Roger Halsebakk, CEO Jon Kvalø, CFO

Sølvtrans Holding ASA Q Oslo, 7 November Roger Halsebakk, CEO Jon Kvalø, CFO Sølvtrans Holding ASA Q3 2012 Oslo, 7 November 2012 Roger Halsebakk, CEO Jon Kvalø, CFO 1 Highlights in the quarter 2 Financial review 3 Operational and market review 4 Summary and outlook 5 Appendix Highlights