Company presentationAugust 2016

Copyright © Head Energy AS. All Rights ReservedThe presentation shall not be altered, distributed, used or copied without prior written approval from Head Energy AS

«Responsible | Honest | Inclusive | Innovative»

Head Energy facts

2

• Foundedasconsultingcompanyin2010

• AcquiredMulticontrolin2013(subsea)

• HeadEnergySolvelaunchedin2015(topside)

• HeadEnergyRiskManagementfoundedin2015• HeadEnergyOffshoreWind– established2016

• Approximately250permanentemployees

• Debt-freeandprofitable

• Long-termthinkingandplanning

• Seekinginternationalexpansion

Background

• Experiencedteam

• Independentandemployeeowned

• GoodQAandHS&Eculture

• Focusoncustomersatisfaction

Growth

Culture

223

99

200

295

345

2010 2011 2012 2013 2014 Bud.2015

Omsetning/Revenues(mNOK)

This is Head Energy

3

BusinessFocusExpansion

OffshoreWind

Risk &DocumentationManagement

Engineering

Consulting

• Head Energyisanindependentengineeringgroup

• Wedelivertechnicalpersonnel,technologyandsolutionstocustomersinchallengingmarketsegments

• HeadEnergywillestablishitselfasarecognizedScandinavianengineeringcompanywithsatisfiedcustomersandemployees

Markets and presence

4

Oil & Gas72%

Offshore wind26%

Other2%

71%Norwegian

29%international

Consulting 300 mNOK

Engineering 50 mNOK

Engineeringvs.Consulting

Norwegianvs.Internationalclients

Industrysegments

Bergen Stavanger Oslo KrakowOffices: / / / Esbjerg/

Head Energy Consulting

Solidteam

Bergen• 4TeamManagers

Stavanger• 4TeamManagers

Oslo• 3TeamManagers

Marketsegments

Commonfocus

Customer Consultant

Customersneedtechnicalassistance

OffshoreOil&Gas

Offshorewind

Landbasedenergy

Aquaculture

Infrastructure

Shipping

Yards

Consulting

Disciplines(maindisciplines– approximatenumbers)

Solidrangeofdisciplinescovered:• 220engineers• 25mercantile

disciplines• Averageage40• 19%women• 10nationalities

0 5 10 15 20 25 30 35 40

Administration

Automation

Construction/Installation/MC/Comissioning

CostControl/Economy

Design\ CAD

DocumentController/LCI

Electrical

Instrument

Management/ProjectManagement

Mechanical(incl.drilling/HVAC/Material)

Piping(incl.valves)

Planner

Process

Procurement

QA/QC/HSE/TS

Structural

The Offshore Wind (short) Story

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KeyMilestones

• 2014-2016:70engineerscontractedtoABBinSwedenandGermany

• April2016:EstablishedHeadEnergyOffshoreWindofficeinEsbjerg

• May2016:SignedframeagreementwithA2SEA

• June2016:FrameagreementwithStatoilandthreeengineerscontractedtotheDudgeonproject

• July2016:AwardedframeagreementwithDONGEnergyWindPower

• August2016:AwardedcontractforcommissioningpersonnelwithSiemensWindPowerUK

• August2016:SignedframeagreementwithAtkins

• Firstcontractawared withABBinJune2014• 2016:Successfull deliveryof100+engineerstodifferentOffshoreWindprojects

• FrameagreementswithseveralmayorplayersintheOffshoreWindmarked

“Weofferhumanresources&technicalassistancereadilyavailableacrossawide

spectreofWindOffshoreMarine,ShippingandLogisticsscopes.Weareabletoprovidebroadsubjectmatter

resourcebandwidth&peaksmoothening”

OffshoreWindOurOffering

OffshoreWindOurVision

OurVisionStatement

“Wewanttobethenumberonesource

ofexpertise andmanpower withinthe

OffshoreEnergy&Renewableindustry”

http://www.siemens.co.uk/round3 © Siemens 2013 All rights reserved.

Hard won lessons from offshore grid connections

Matthew Knight, Director Business Development UK Offshore Wind

Innova&on'&'Development'

HSE'Management'

Quality'Management'

Marine'Management'

Li:'Management'

SERVIC

ES

COM

PETENCES

Head Energy Offshore WindMarine and Logistics

STRATEGY(CONSULTING((

Vendor(Ve5ng(&(Tender(Management(

Shipping(&(Logis@cs((Innova@on(

Sub(Contractor(Management(

Business(&(Concept(Development(

Due(Diligence(&((((M&A(Consul@ng(

MARINE(OPERATIONS(

Marine(Coordina@on(

LoadIout(/(Site(setIup(

DP(Opera@ons(

PreIload(&(Jacking(Opera@ons(

Transfer(Opera@on(

InIhire(Survey(

HSEQ(OFFSHORE(

Audi@ng(

Risk(Assessment(

Root(Cause((Inves@ga@ons(

Compliance(

Safety(Culture(

Safety(Training(

HEAVY(LIFT(OPERATION(

LiR(Plan(

LiR(Supervision(

Crane(Specifica@ons(

LiRing(Equipment(

Assessment(of(crane(operators(&(supervisors(

Head Energy Offshore Wind -Substation Expertise

Consultingservices–Experienceisthekey

Engineering–Opportunitiesthroughnetwork

HeadEnergyhasdelivered100+ specializedengineersandprojectmanagementpersonneltotheoffshorewindindustrysince2014.Wevaluetheimportanceofknowhowandexperienceoffshore- andhowthisaffectsbothsafetyandefficiencyinourclient’sprojects.

SpecificpositionsinoffshorewindprojectscoveredbyHeadEnergypersonnel:PlatformManagersHook-up&InstallationManagersMC/CommissioningManagers&EngineersConstructionManagersProjectManagers&EngineersEngineeringManagersEngineeringresourceswithinallDisciplinesParticularlystrongwithinelectricalSystems

ProjectManagementResources&Solutions:»»Documentcontrol»»Lifecycleinformation»»OA/MSEE»»Contract,costandplanning

Standalone,orthroughourglobalpartners,wecanofferarangeofengineeringservicestotheoffshorewindindustry.Fromsmallassignmentstolargeandcomplexprojects,wecanoffertherightservices,solutionsandconnections.

Proventechnologiesandefficientexecutionmodelscanlowerthecostinprojectswithinoffshorewindandothersourcestorenewableenergy.

TheHeadEnergynetworkenablesustodeliverservicesincludingOperations&Maintenance,CommissioningandDecommissioning,Hook-upandInstallationandProjectManagementservicestotheoffshorewindprojects.

Clients

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Engineering Consulting

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Head EnergyHeadEnergyASNordåsdalen27N-5235Rådal

T:+4799204323E:post@headenergy.noW:www.headenergy.no

HeadEnergyMulticontrolASNordåsdalen27N-5235Rådal

T:+4799204323E:post@multicontrol.no

HeadEnergyHordalandASNordåsdalen 27N-5235Rådal

HeadEnergyRogalandASLuramyrveien40N-4313Sandnes

HeadEnergyØstASSolbråveien20N-1383Asker

HeadEnergySolveASNordåsdalen 27N-5235Rådal

HeadEnergyRiskManagementASNordåsdalen 27N-5235Rådal

HeadEnergy(DK)ASMaalerhusvej 1DK-6700Esbjerg