Deep Sea Supply Plc announced a joint venture in Brazil and new long-term contracts in Asia. While revenue increased in the fourth quarter of 2012, the soft North Sea spot market and late start to the Sea Brasil project reduced profits. Earnings per share turned positive after three consecutive quarters of losses.

1. 4Q|12
Deep Sea Supply Plc
Presentation
27 February 2013

2. HIGHLIGHTS 4Q|12
• Announcing joint venture in Brazil
• Increased revenue, but soft North Sea spot market and
late commencement Sea Brasil
• New long term contracts in Asia
• New medium term contracts in Brazil
3

3. SHARE PRICE DEVELOPMENT AND SHARE TURNOVER
Share price and total return since listing 2012 average monthly volume and turnover velocity
Close Price Total Return
40 0,04 50
Average monthly volume in NOK million (light blue line)
45
Traded shares per month / Average shares outstanding
35 0,035
40
30 0,03
35
25 0,025
30
NOK per share
20 0,02 25
20
15 0,015
15
10 0,01
10
5 0,005
5
0Sep-05 Jan-06 May-06 Sep-06 Jan-07 May-07 Sep-07 Jan-08 May-08 Sep-08 Jan-09 May-09 Sep-09 Jan-10 May-10 Sep-10 Jan-11 May-11 Sep-11 Jan-12 May-12 Sep-12 Jan-13
0 0
Deep Sea DOF ASA Siem Offshore Havila Solstad Farstad Eidesvik REM Offshore
Supply PLC Inc. Shipping ASA Offshore ASA Shipping ASA Offshore ASA ASA
4

4. INCOME STATEMENT 4Q 2012 4Q|12
(Unaudited figures in USD 1,000) 4Q 2012 4Q 2011 3Q 2012
Operating revenue 38 934 32 115 35 457
Vessel operating expenses (20 065) (16 123) (16 913)
Other operating expenses (3 496) (3 273) (2 681)
Other gains 120 59 143
Gain on sale 1 123 1 190 1 123
EBITDA 16 615 13 966 17 130
Depreciation (9 497) (8 260) (8 614)
EBIT 7 118 5 707 8 516
Financial income 176 130 45
Financial expenses (6 876) (6 219) (6 217)
Net currency items 635 (1 025) 676
Change in value of financial derivatives 70 106 50
Net financial items (5 995) (7 008) (5 446)
Pre-tax result 1 123 (1 301) 3 070
Taxes (287) (12) (43)
Profit for the year 837 (1 314) 3 027
Earnings per share 0,01 (0,01) 0,02
Earnings per share diluted 0,01 (0,01) 0,02
Cash flow per share 1) 0,08 0,06 0,09
1) Profit before taxes+depreciation-unrealized gain on currencies
5

5. INCOME STATEMENT 2012 4Q|12
(Unaudited figures in USD 1,000) YTD 2012 YTD 2011
Operating revenue 124 140 115 902
Vessel operating expenses (66 345) (72 124)
Operating lease 0 (1 684)
Other operating expenses (12 356) (10 911)
Other gains 566 499
Gain on sale 4 492 29 017
EBITDA 50 497 60 699
Depreciation (32 304) (28 826)
EBIT 18 193 31 873
Financial income 351 392
Financial expenses (23 802) (26 004)
Net currency items 1 483 (5 579)
Change in value of financial derivatives 175 129
Net financial items (21 793) (31 062)
Pre-tax result (3 599) 810
Taxes (912) (21)
Profit for the year (4 511) 789
Earnings per share (0,04) 0,01
Earnings per share diluted (0,04) 0,01
Cash flow per share 1) 0,21 0,28
1) Profit before taxes+depreciation-unrealized gain on currencies
6

6. REVENUE AND EBITDA DEVELOPMENT 2012 4Q|12
Development per quarter
(Figures in USD 1,000)
40 000 38 934
35 457
32 500
28 339
25 000
21 411
Operating Revenue
EBITDA
17 500
10 000
2 500
Q1 Q2 Q3 Q4
7

7. AREA OF CURRENT OPERATION Office PSV AHTS
8

8. CASH FLOW STATEMENT 4Q|12
(Unaudited figures in USD 1,000) YTD 2012 YTD 2011
Cash flows from operating activities
Cash generated from operations 47 985 16 725
Net cash generated from operations 47 985 16 725
Cash flows from investing activities
Acquisitions and upgrades of property, plant and equipment -92 186 -74 410
Disposals of property, plant and equipment 0 136 860
Net cash used in investing activities -92 186 62 450
Cash flows from financing activities
Interest paid -20 774 -26 559
Proceeds from borrowings 105 349 72 767
Repayments of borrowings -40 270 -126 996
Net cash used in financing activities 44 305 -80 788
Total changes in liquidity in the Year 104 -1 613
Cash and cash equivalents at beginning of Year 40 318 41 932
Cash and cash equivalents at end of Year 40 422 40 318
9

9. BALANCE SHEET 3Q|11
(Unaudited figures in USD 1,000) 31.12.2012 31.12.2011 (Unaudited figures in USD 1,000) 31.12.2012 31.12.2011
Non-current assets Liabilities
Vessels cost 638 977 554 935 Borrowings 468 579 403 299
CIRR loan 35 509 37 790
Construction contract 0 17 659 Deferred gain 27 157 31 561
Equipment 822 643 Long term tax liabilities 0 873
Total property, plant and equipment 639 799 573 237 Other long term liabilities 195 124
Total long term liabilities 531 439 473 647
Deferred income tax 605 308 Borrowings 40 436 38 143
Other long term receivables 327 647 CIRR loan 5 215 4 839
Investment in associates 1 194 594 Trade and other payables 23 667 13 307
CIRR deposit 35 558 37 796 Deferred gain 4 658 4 812
Total non-current assets 677 483 612 582 Tax payable 1 266 881
Other short term liabilities 1 660 400
Current assets Total short term liabilities 76 903 62 382
Inventories 2 679 5 062 Total liabilities 608 342 536 029
Other short term receivables 9 541 6 468
CIRR deposit 5 215 4 839 Shareholders equity
Freight income not received 30 010 29 475 Share capital, share premium and treasury shares 11 445 11 205
Cash and cash equivalents 40 423 40 318 Retained earnings and other reserves 145 564 151 510
Total current assets 87 867 86 162 Total shareholders equity 157 007 162 714
Total assets 765 350 698 744 Total equity and liablities 765 350 698 744
10

10. SHAREHOLDERS 4Q|12
The largest shareholders as per 21st February 2013 registered in VPS
Citizen No. of shares: %
HEMEN HOLDING LIMITED CYP 44 583 853 35,05%
SKAGEN KON-TIKI NOR 12 229 431 9,61%
PERESTROIKA AS NOR 5 453 897 4,29%
DNB NOR MARKETS NOR 3 360 105 2,64%
JPMCB RE SVENSKA HANDELSBANKEN SWE 2 168 050 1,70%
HOLBERG NORGE NOR 2 162 486 1,70%
UBS AG GBR 1 715 679 1,35%
UTHALDEN A/S NOR 1 575 000 1,24%
NORDEA BANK NORGE ASA NOR 1 470 000 1,16%
CENTRA INVEST AS NOR 1 421 643 1,12%
PACTUM AS NOR 1 325 000 1,04%
ANAXO CAPITAL AS NOR 1 220 000 0,96%
DNB NOR SMB NOR 1 000 000 0,79%
SOLSTEN INVESTMENT FUND GER 900 000 0,71%
DELPHI Norge NOR 900 000 0,71%
MORGAN STANLEY & CO USA 805 367 0,63%
BNP PARIBAS FRA 800 000 0,63%
MP PENSJON PK NOR 658 800 0,52%
LØREN HOLDING NOR 620 626 0,49%
VERDIPAPIRFONDET HANDELSBANKEN SWE 600 000 0,47%
Total 20 largest shareholders: 84 969 937 66,80%
Total other shareholders: 42 227 257 33,20%
Total number of shares: 127 197 194 100,00%
11

11. CONTRACT BACKLOG 4Q|12
Contract Backlog Deep Sea Supply Fleet as per Feb 2013*
Vessel Type Vessels on Term Contracts as of 01.02.13 Contract backlog
AHTS 10 of 14 Vessels USD 200M
PSV 9 of 9 Vessels USD 127M
Total 19 of 23 Vessels USD 327M
*Excluding Sea Weasel, which is owned by Malaysian J.V.
Expected revenue from term contracts per quarter
(Figures in USD 1,000) AHTS PSV
40 000 40 000
35 000 35 000
30 000 30 000
25 000 25 000
20 000 20 000
15 000 15 000
10 000 10 000
5000 5000
0 0
Q1 - 13 Q1 - 13
Q2 - 13 Q2 - 13
Q3 - 13 Q3 - 13
Q4 - 13 Q4 - 13
12

12. FLEET LIST & CHARTER STATUS AS PER FEBRUARY 2013
Vessel Type Bhp/Dwt Year Built Trading Area 2013 2014
AHTS Vessels Q1 Q2 Q3 Q4
Sea Lynx KMAR 404 15000 BHP 1999 North Sea North Sea Spot
Sea Bear KMAR 404 15000 BHP 1999 Brazil/North Sea Repsol North Sea Spot
Sea Tiger KMAR 404 15000 BHP 1999 Brazil Repsol
Sea Panther KMAR 404 15000 BHP 1999 Brazil
Sea Leopard KMAR 404 15000 BHP 1998 Brazil Vanco Vanco
Sea Cheetah Khiam Chuan 15000 BHP 2007 Brazil Petrobras
Sea Jaguar Khiam Chuan 15000 BHP 2007 Brazil Petrobras
Sea Ocelot Khiam Chuan 10800 BHP 2007 Asia
Sea Eagle I Khiam Chuan 12000 BHP 2009 Malaysia Malaysia
Sea Weasel Seatech P-729 6500 BHP 2009 Malaysia
Sea Fox Seatech P-729 6800 BHP 2011 Brazil Petrobras
Sea Jackal Seatech P-729 6800 BHP 2011 Brazil Petrobras
Sea Badger Seatech P-729 6800 BHP 2011 Asia PTTEP
Sea Vixen Seatech P-729 6800 BHP 2011 Brazil Petrobras
Sea Stoat Seatech P-729 6800 BHP 2011 Brazil Petrobras
PSVs
Sea Trout VS 470MK II 3250 DWT 2007 North Sea EnQuest
Sea Angler PSV UT 755 L 3250 DWT 2007 W.Africa ENI Congo
Sea Halibut PSV UT 755 L 3250 DWT 2007 Brazil Petrobras
Sea Pike PSV UT 755 L 3250 DWT 2007 Brazil Petrobras
Sea Bass PSV UT 755 L 3250 DWT 2008 Brazil Petrobras
Sea Pollock PSV UT 755 L 3250 DWT 2008 Brazil Petrobras
Sea Turbot PSV UT 755 L 3250 DWT 2008 Brazil Petrobras
Sea Witch PSV UT 755 L 3250 DWT 2008 W.Africa ENI Congo
Sea Brasil STX 09CD 4700 DWT 2012 Brazil BP
Firm Option Spot
13

13. AGE DISTRIBUTION CURRENT FLEET AND ORDER BOOK
AHTS PSV
Vessel > 20 years: 27 % of total fleet
,7 Vessel > 20 years: 20,1% of total fleet
Vessel > 30 years: 14,9 % of total fleet Vessel > 30 years: 13% of total fleet
300
250
200
No of units
150
100
50
0
68
69
70
71
72
73
74
76
77
78
79
80
81
82
83
84
86
87
88
89
90
91
92
93
94
96
97
98
99
00
01
02
03
04
06
07
08
09
10
11
12
13
14
75
85
95
05
15
20
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
19
20
20
20
20
20
20
20
20
20
20
20
20
20
19
19
19
20
20
Source: ODS Petrodata
14

14. AHTS PSV
AHTS PSV
THE RIG AND SUPPLY MARKET 800
800
700
700
691
691
600
600
500
500 425
425
400
400
Current OSV & Rig fleet 300
300
200
200
OSV <= 15 years, by vessel type 289
289 269
269
163
163
123
123
100
100
Supply vessels Total fleet AHTS PSV 00 AHTS PSV
0-5
0-5 6-10
6-10
AHTS PSV 11-15
11-15
Existing fleet 2677 1557 1120
800
Orderbook 447 17% 148 10% 299 27% 691
700
600
Average age 12,7 13,1 12,1 500 425
400
289
300 269
Rig market Total fleet Semis/drillships Jackups
200 163
Existing fleet 789 301 488 123
100
Orderbook 182 23% 96 32% 86 18%
0
0-5 6-10 11-15
Source: ODS Petrodata
Vessel term utilization:
• PSV (>3.000 DWT) currently 83% utilization globally vs 86% Nov 2012
• AHTS (>10.000 BHP) currently 72% utilization globally vs 75% in Nov 2012
(The remaining 17% (PSV) and 28% (AHTS) is vessels trading in spot market, steaming, in yard or idle)
Delivery AHTS vs PSV
1) Last 5 years 691 AHTS vessels have been delivered from yard
Same period 425 PSV vessels have been delivered.
2) Current orderbook is for 299 PSVs and 148 AHTS vessels
15

15. SELLING 50% OF BRAZILIAN BUSINESS TO BTG PACTUAL
16

16. BTG PACTUAL 4Q|12
• One of the largest investment banks in Latin America
• Listed on stock exchange in Sao Paulo and Amsterdam
• More than USD 95 bn under Asset/Wealth Management
• Represents 30% of shareholders in Sete Brasil
17

17. THE TRANSACTION 4Q|12
• Selling 50% of DESS’ Brazilian business to BTG Pactual
EV = USD 578M
• Buying 6 newbuild large PSVs
EV = USD 274M
• Equity injection as working capital USD 48M
50% from each of the partners
18

18. THE BRAZILIAN BUSINESS 4Q|12
• Deep Sea Supply Navegação Marítima Ltd
• Deep Sea Supply Serviços Marítimos Ltd
• 15 AHTS & PSVs operating in Brazil:
AHTS PSV
Sea Panther Sea Halibut
Sea Leopard Sea Bass
Sea Tiger Sea Pollock
Sea Cheetah Sea Turbot
Sea Jaguar Sea Pike
Sea Fox Sea Brasil
Sea Jackal
Sea Vixen
Sea Stoat
• 6 Newbuild large PSVs – Ulstein PX 105
– Expected delivery 2013/2014
19

19. THE TRANSACTION 4Q|12
Brazil
The Brazilian business Management
Board
agreements
AHTS
+
PSVs
20

20. STRATEGIC RATIONALE 4Q|12
• Local experience and know how
• Increased local content
• 3rd largest OSV company in Brazil
• Seeking further growth opportunities
21

21. DESS AFTER ESTABLISHMENT OF JV 4Q|12
• Modern fleet of 9 vessels with good contract coverage
AHTS PSV
Sea Lynx Sea Trout
Sea Bear Sea Angler
Sea Ocelot Sea Witch
Sea Eagle 1
Sea Badger
Sea Weasel
• Africa, Asia and North Sea the main markets
• JV sales proceeds helps facilitate further growth
22

22. presis 360
COMPANY ADDRESSES
Cyprus
Deep Sea Supply Plc
John Kennedy Ave., Iris House, 7th Floor, Office no.740B
Limassol 3100
Cyprus
Deep Sea Supply Management (Cyprus) Ltd
P.O.Box 53340
CY-3302 Limassol
Cyprus
Norway
Deep Sea Supply Management AS
Tromøyveien 22
N-4841 Arendal
Norway
Singapore
Deep Sea Supply Management (Singapore) Pte.Ltd.
10 Hoe Chiang Rd
#19-03/04/05 Keppel Tower
Singapore 089315
Brazil
Deep Sea Supply Servicos Maritimos LTDA
Avenida Presidente Wilson
231, sala 1.403.
Cep:20030-021 Rio de Janeiro
RJ Brazil
www.deepseasupply.no