4 September 2013

DeepOcean Presentation Pareto Conference - Oslo

Back on Track

An integrated provider of comprehensive subsea engineering solutions and a leading subsea contractor

Market leader in subsea IMR in the Greater North Sea and global leader of trenching services

Demonstrated track record of highly-engineered, complex subsea construction projects for the oil & gas, offshore wind and telecommunication industries

Corporate office in Amsterdam. Main execution centers in Haugesund Norway and Darlington UK. Global presence with offices in Trondheim Norway, Aberdeen UK, Macae Brazil, Ciudad del Carmen Mexico, Singapore and Den Helder the Netherlands

www.deepoceangroup.com 1

DeepOcean

Back on Track

HSEQS

2

Back on Track

www.deepoceangroup.com

Through 31 July 2013

Leading Indicators

HSEQS

Lagging Indicator

3

Back on Track

www.deepoceangroup.com

Through 31 July 2013

Lagging Indicators

A Decade of Transformation

2005

IPO at OSE

2006 2011

Acquires CTC Marine Projects Ltd

Acquired by Trico for

~NOK3.5 billion

2008 2009 2010 2007 2012 2013

Trico files for bankruptcy

protection in US

DeepOcean completes restructuring process

and appoints new Board

Appoints new CEO and CFO

Delivers strong EBITDA growth in 2H2012 - 1H2013

Acquires Oceanteam AS

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Back on Track

Despite turbulence in 2009-

Back on Track

Awarded a 5-year firm IMR contract from Statoil for the Rem Ocean valued between ~$265 and ~$350 million depending on options and additional services Awarded a contract by Statoil for the procurement, installation and burial of the 140 km. Aasta Hansteen Fiber Optics Cable Closed new 125 million Credit Facility with 5 banks Secured extensions of Atlantic Challenger and Arbol Grande vessel charters through 2014 Acquired a 50% interest in ADUS DEEPOCEAN Chartered new vessels for 2014 and beyond, namely Havilia Phoenix, Rem Ocean and Deep Helder Opened Engineering Office in Trondheim and staffed up Reported a record and high quality backlog of $814(1) million effective 31 March Achieved one continuous year on hire of the Edda Fauna without any off hire breakdown Awarded Most Innovative Subsea Technology Provider at the Deepwater Excellence Awards ceremony at the 7th Annual Deepwater China Convention in May 2013 Recruited 158 (>10% increase) new employees and experienced turnover of less than 3% YTD

www.deepoceangroup.com 5

Recent Events in 2013

1) Unaudited

Back on Track

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Leadership Team

Bart Heijermans CEO

20+ years of global oil & gas industry

experience

Shell E&P, Enterprise Products LP USA

EVP & COO Helix

2005 -2011

Dennis de Vreede CFO

20+ years of financial,

accounting experience

CFO Redevco

Mads Bårdsen President

DeepOcean AS

20+ years of oil & gas industry

experience

Stolt Offshore

Tony Inglis MD

DeepOcean UK

30+ years of global oil & gas

industry experience

Clough - SaiClo

Ottar Mæland Ops. Director

DeepOcean AS

13+ years of oil & gas industry

experience

Norsk Hydro

Pierre Boyde Com. Director

DeepOcean UK

15+ years of oil & gas industry

experience

EMC

Owned vessels: 7

Long Term Charters: 8 (+3 in 2014)

Spot charters: 2

28 ROVs

5 ROVs to be delivered in 2H2013

33 ROVs at 2013 year-end

> 4 ROVs to be delivered in 2014

7 ploughs

6 jet trenchers (+1 in 2014)

4 mechanical cutters

Ultimate trenching spread with T3200 and T1000 to be introduced in 2014

Vessels ROVs Trenchers & Ploughs

Company snapshot

~1200 employees

~250 agency personnel

Talent

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Revenue: $513m Adj. EBITDA: $54m (10%) ROCE: 7% Net Debt < $0 CAPEX: $72m

2012 Financials (Audited) 1H2013 Financials (un-audited)

Revenue: $294m Adj. EBITDA: $51m (17%) ROCE: 19% Net Debt: $2m CAPEX: $29m

Back on Track

Survey, inspect and map terrain prior to the installation of

new subsea systems

More than 50 000 km pipeline surveyed Water depth to 2100 m ROV and vessel based Co-owner of ADUS DeepOcean

Installation of subsea structures

SURF Power Cables and umbilicals Structures Module replacement Life of Field Seismic cables

Leading provider of subsea trenching and

protection services

Global leader

Largest portfolio of seventeen trenching assets with wide range of capabilities

Subsea Installation Trenching

Service lines

Survey and Seabed Mapping

DeepOcean is the largest subsea IMR

service provider in the Greater North Sea

Largest subsea IMR Contractor in Greater North Sea More than 1200 vessel days per year and 700 call-offs per year Long term service contracts

Inspection, Maintenance and

Repair (IMR)

ROV based subsea decommissioning

Lead contractor on subsea decommissioning projects

Decommissioning

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Back on Track

Confidential Not for Public Dissemination

Arbol Grande

Deep Endeavour CBO Isabella

Edda Flora Edda Fauna

Edda Fonn

Deep Vision Volstad Surveyor

Northern Wave

Volantis

Maersk Recorder

Rem Forza

Vessel and project activity

T1

Office locations

Northern Commander

Northern Supporter

Back on Track

Maersk Responder

Maersk Assister

Excludes: Walker I Havila Phoenix (2014) Rem Ocean (2014) Deep Helder (2014) TBD (2014)

www.deepoceangroup.com 9 Atlantic Challenger

Activity on 6 continents managed by regional offices through two execution centres

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Proprietary visualization software and data

acquisition methodology

Decommissioning of Statfjord Loading Buoy. Novel technology used to disconnnect chains from buoy

Installation of X-MAS tree with Edda Fauna IMR vessel

ADUS DEEPOCEAN STATFJORD LOADING BUOY DECOMMSSIONING AND REMOVAL

Clamp Installation on Glitne

Selection of recent projects Back on Track

Flexible Riser End Replacement

IMR

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Trenching of pipelines by AMP500 plough

Snoree LOFS / PRM

Macedon and Gorgon Ithaca Stella

Burial of umbilicals offshore Australia

Selection of recent projects Back on Track

Installation and burial of 80 array cables in German sector of North Sea

BARD

Installation and burial of ~535km of cables and umbilicals on Snorre PRM project

More subsea wells Increased demand for construction, IMR and decommissioning

Bigger and more complex subsea structures Need for larger and more capable vessels More pro-active and critical maintenance requirements

Ageing Infrastructure Increased requirements for IMR and replacement scope Focus on IOR (Increased Oil Recovery) Installation, IMR and change-out of subsea production systems Well intervention (downhole IMR) Permanent Reservoir Monitoring (PMR) Electrification projects

Renewables Increase in number of Offshore wind farms IMR market for remedial trenching

West European Grid New interconnector power cables

Subsea trends

Back on Track

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Oil & Gas vs. Renewables revenue

CAPEX vs. OPEX funded revenue

Day-rate vs. qualified lumpsum or qualified EPCI

Differentiated services vs. differentiated assets

Large number of relatively inexpensive assets vs. small number of expensive assets

Global vs. regional strategy

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Trade Offs for DeepOcean to achieve predictable and sustainable growth

Back on Track

- T3200

Our Focus

Zero incidents as the result of thorough preparations, training, development and ACT for Safety

Retain and attract talent through investment, development and empowerment and become an Employer of Choice, that is admired by its peers

Deliver high quality and reliable services to our Customers

Grow ROCE

Manage balance sheet to withstand and take advantage of opportunities during downturns

Credibility Say what you do and do what you say

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Back on Track

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High ambitions - Deep knowledge!

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