The National Shipping Company of Saudi Arabia (NSCSA)

COMPANY PROFILE

OVERVIEW

Founded in 1979 as a Public Company in Saudi Arabia

Ownership Structure:

Public Investment Fund owns 28% of shares

72% free float

Total Assets as of 31th December 2010 SAR 9.9 Billion

Market Cap as of 31th December 2010 SAR 5.5 Billion

1

QUALIFIED & EXPERIENCED EXECUTIVE TEAM

Mr. Saleh Al- Jasser - Chief Executive OfficerJoining Date: 1 November, 2010

In charge of NSCSA group’s overall business units.Experience of over 25 years in diverse industries.Holds Master’s in Business Administration and Bachelor’s degree in Industrial Engineering.Participated in advance training from the Harvard Business School, INSEAD, Oxford & Cranfield UniversitiesSits in the Board of Ettihad Etisalat (MOBILY), Saudi Research and Marketing Group (SRMG), BUPA Arabia Cooperative Insurance Co. and Middle East Financial Investment Co. (MEFIC)Member of the Young President’s Organization (YPO) and Young Arab Leaders (YAL)

Captain Ahmed Khan-  Acting President, NSCSA (America) Inc. Acting Date: 1 October, 2010Joining Date: 1983

He is in charge of General Cargo Business Unit.His experience is mainly in the ship management, with over 19 years at sea and 8 years on shore.He holds a Master Unlimited Certificate from the UK.

Mr. Saleh Al-Shamekh- President (Oil & Gas)Joining Date: 1 January, 1988

He is in charge of Oil & Gas Business Unit. His experience is mainly in the shipping industry operational as well as planning.He holds a Master of Business Administration from Minnesota State University in USA.

Mr. Abdulaziz Al-Rasheed- Vice CEO (Planning, Business Development)Joining Date: 16 January, 1990

He is in charge of NSCSA Corporate Planning & Business Development Department.His experience is mainly in the shipping industry financial as well as planning.He holds a Master of Business Administration from New Hampshire College in USA.

2

QUALIFIED & EXPERIENCED EXECUTIVE TEAM

Mr. Ahmed Al-Eidan- Asst. CEO (Board Secretariat & Communication) Joining Date: 1 March, 1990

He is the BOD Secretariat as well as being in charge of NSCSA Corporate Communication Department.His experience is mainly in the technical management and Internal Audit & Control.He holds an internal Auditor Fellowship Certificate from the US General Accounting Office in Washington,

D.C. USA aswell as a Bachelor in Business Administration from California State University in USA.

Mr. Abdullah Al-Mohanna- CEO (National Chemical Carriers) Joining Date: 1 March, 1991

He is in charge of the Chemical Transportation Business Unit.His experience is mainly in the Petrochemicals industry and Shipping Industry. He holds a Bachelors degree in Business Administration from California State University in USA.

Mr. Mohammed Al-Otaibi- Vice CEO (Finance)Joining Date: 1 May, 2005

He is in charge of NSCSA Corporate Finance Division.His experience is mainly in the banking financial industry and 5 years in the shipping.He holds a Master of Business Administration from Western Michigan University in USA.

Mr. Robert Houston-  President (Mideast Ship Management LTD) Joining Date: 18 July, 2007

He is in charge of the ship management of all NSCSA vessels & tankers.His experience is mainly in the ship management , with over 15 years at sea and 25 years in the shore side ship management.He holds a Chief Engineer Certificate.

3

BUSINESS SEGMENTS

4

CHEMICAL MARINE TRANSPORT

Diversified Into 5 Business

UnitsDRY BULK

GENERAL CARGO

SHIPMANAGEMENT

OIL & GAS

STRATEGIC DIVERSIFICATION IN THE BUSINESS SEGMENTS

CHEMICAL MARINE

TRANSPORTOIL & GAS

GENERAL CARGO

SHIP MANAGEMENT

Owns 17 DH VLCCs, 6 in Time Charter and 11 operate in Spot Market.

NSCSA owns 30.3% in Petredic Limited which is a Liquefied Petroleum Gas (LPG) trader & ship-owner.

Owns 4 Ro-Ro

multipurpose

ships which

operates between

the US/Canada

East Coast and

Indian

Subcontinent

passing through

Saudi Arabia.

Ro-Ro ships are

capable of lifting

heavy project

cargoes

and containers.

5

To acquire 5 Panamax sized vessels.

NSCSA will operate in this segment through its subsidiary Bahri Dry Bulk which is 60% owned and 40% owned by ARASCO.

DRY BULK

MIDEAST Ship

Management is

100% NSCSA

owned and was

established with

a vision to provide

NSCSA fleet

with

professionally

qualified people to

ensure quality

service at industry

competitive cost.

Owns 13 tankers, 10 in Time Charter and 3 in Spot Market. It has 12 tankers under construction.

NSCSA operates in this segment through its subsidiary National Chemical Carrier (NCC) which is 80% owned and 20% owned by SABIC.NCC owns 50% stake in NCC-ODJFELL.

INVESTING IN THE FUTURE

NSCSA signed a joint venture agreement with ARASCO with a capital of 200 million Saudi Riyals and an estimated total investment of about SAR 656 million reaching up to 1.3 billion during the first three years of operation. Operation planned to begin in 2011.

The General Cargo fleet is currently under review for replacement as the 4 existing Ro-Ro vessels are ending their journey to exit market in 2012 & 2013.

6

To be a growing, globally recognized high performing marine transportation enterprise operating in chosen sectors of the industry.

FOCUSED VISION

7

COMPETITIVE ADVANTAGE

Young and growing fleet.

In-house commercial and technical expertise

Financially well positioned to support growth plans.

8

GROWING FLEET

9

0

5

10

15

20

25

30

VLCCs Chemical Tankers Ro-Ros

Operational New Building

Owned Fleet = 44

13131717

1212

44

0

5

10

15

20

25

30

VLCC Chemical Tankers Ro-Ros

67

10

YOUNG VLCCs & CHEMICAL MARINE TANKERS FLEETYOUNG VLCCs & CHEMICAL MARINE TANKERS FLEET

28

Average Age of the Fleet in each Segment

YEARS

RANK 6th AMONG VLCC OWNERS WORLDWIDE

Source: Clarksons – January 2011

11

COSCO Group , 11

VELA, 17

NSCSA, 17

ANGELI, 20

NIOC, 28NYK, 34

MOSK, 40

Fredriksen Group, 37

Overseas Shipholding, 12

BW Ltd. , 15

Number of DH VLCCs Owned:

LEADER - MIDDLE EAST CHEMICAL MARINE TRANSPORT

12

Operational Fleet(in ‘000 DWT)

571

391

321

193 183 182

105 8642

NCC GEM EmiratesTrading

EmiratesShip Inv.

Gulf Nav BakriNAV

NIOC IRISL EmiratesShipping

Co.

Source: Clarkson & Company Websites- November 2010

SECTOR CONTRIBUTION

82%

26%

-8%

Crude Oil Petrochemicals General Cargo

QUALITY

TECHNICAL FOCUS

SAFETY

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Ensure the safety of the crew, the vessel and the cargo. Strict compliance with all Safety of Life at Sea (SOLAS)

Regulations. Comply with the highest International Quality, Health, Safety

and Environment  (QHSE) standards

ENVIRO’T

Comply with all Marine Pollution (MARPOL) Regulations Maximize fuel efficiency to reduce pollution Employ latest technology to reduce fuel consumption,

e.g. Silicon based hull coatings

Maintain the asset value of the vessels Sustain efficient operation of the vessels Ensure customer satisfaction

Strong Cash Position & Generation

Sustainable Profitability

Access to competitive financing

Low leveraged

Consistent Dividends Payout Consistent Dividends Payout

FINANCIALLY STRONG

14

Strong Cash Position & Generation

SAR Millions

Cash & cash equivalents as of 31th December, 2010

SAR 1.085 Billion

15

437

1,142

517

2009

2008

2007

150 400 600 800 1000

CASH FROM OPERATIONS

7802010

SUSTAINABLE PROFITABLITY

0

500

1,000

1,500

2,000

2,500

3,000

2007 2008 2009 2010

Revenue Op. Income Net Income

SA

R M

illio

ns

1,70

3

451

423 2,

595

961

759

1,67

2

372

369

16

2,05

2

449

411

STRONG BALANCE SHEET

0

2,000

4,000

6,000

8,000

10,000

12,000

2007 2008 2009 2010

Total Asset Equity

SA

R M

illio

ns

7.79

7

4,66

0 9,81

9

5,09

1 10,3

38

4,98

7

17

9,77

0

5,23

7

CONSISTENT DIVIDENDS PAYOUT

18

0

0.5

1

1.5

2

2.5

2005 2006 2007 2008 2009 2010

0

10

20

30

40

50

60

70

80

90

EPS Dividends Per Share Dividends Payout Ratio

Stock

Dividend

1:8

%%SAR

SAR

Financial Ratios

2005 2006 2007 2008 2009

Dividends Payout Ratio 57.10 50.96 74.54 63.00 85.30

Net Profit Margin 27.33 26.74 24.81 28.91 22.09

EBITDA Margin 48.21 48.93 49.26 47.91 50.38

Return on Assets 9.06 7.36 5.42 7.64 3.57

Return on Equity 16.83 14.69 9.07 14.73 7.40

Equity/Assets 0.54 0.50 0.60 0.52 0.48

Current Ratio 1.13 0.38 1.95 1.93 2.01

Debt/Equity 0.76 0.90 0.62 0.87 1.00

CONCLUSION

NSCSAContinues to strive toward tomorrow’s

horizon

Qualified People Quality Assets

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Growing Profitably Risk Management

to be a growing, globally recognized high performing marine transportation

enterprise.

The National Shipping Company of Saudi Arabia

Please note that financial statements are available on www. nscsa.com

Thank You

For any inquiries contact us at:investorrelations@nscsa.com.sa

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