Table of Contents

1. Introduction

2. Market Overview

3. Company Overview

4. Future Development

2

Introduction

3

300+ Permanent full time employees plus 100 – 150 day rate offshore employees

Has provided services in 12 West African countries

Company Overview

Owned Resources Services

7Vessels

3SaturationDiving Systems

17Deep Air Packages (DAP)

Construction

Inspection

Repair

Maintenance

4

Established and operating in Nigeria for 15 years

Business Summary

Services – i) providing installation and construction support to major international construction contractors, and ii) inspection, repair and maintenance of field facilities and infrastructure direct to the major oil companies

Resources – valuable operational facilities, experienced management, large vessel and equipment asset base

Financial strength - capable of undertaking large, complex and long term projects

Quality, Health, Safety, Environment (QHSE) - industrystandard Integrated Management System (IMS) and covetedmembership in International Marine Contractors Association(IMCA)

Key Clients

Geography

Services provided in 12 West African countries

Well-established market position in Nigeria

Regional office in Angola, Equatorial Guinea and Ghana (under development)

Leading Oilfield Services Provider

Company Milestones

6

Consistent High Growth Company with an Increasingly Valued Asset Base

HydroDive’s revenue has grown at a 25% CAGR since 2000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013ENo. Vessels 1 1 5 5 5 6 7 7 7 7 7 6 5 7

Sales Rev ($M) $8.5 $12.3 $20.8 $27.6 $34.8 $34.8 $36.9 $56.1 $75.0 $91.6 $65.3 $63.9 $120.3 $144.7

HD Pride,HD

Indepenence

HD Steadfast,HD Scorpion

4 Air Dive Systems

SAT 02

HD Contender

Acquisition of West African

Oilfield Services

HD Jack Sparrow,

HD Enterprise

SAT 03

Vessels

Air Diving System

Other

HD Challenger,HD

CommanderHD Inspector

Adams Surveyor & Blue Ocean

Charters

6 Air Dive Systems

IMCA Member Certification

4 Air Dive Systems

3 Air Dive Systems

Angola Office

Saturation Diving Systems

Acquisition of Stolt Comex Seaway (SCS)

SAT 01

HD BonAccord

$8.5 $12.3

$20.8$27.6

$34.8 $34.8 $36.9

$56.1

$75.0

$91.6

$65.3 $63.9

$120.3

$144.7

Market Overview

7

Subsea Market – Typical Oilfield Cycle

1 – 3 Years 2 – 6 Years 1- 7 Years 10 - 30 Years

Minimal Participation Limited Participation• Repairs & Inspection• General rig support

Primary market• Transport & Installation (T&I)• Inspection, Repairs & Maintenance (IRM)• Construction• Accommodation support• Field abandonment

8

DevelopmentPhase

Services Provided

Phase Duration

HydroDive primarily serves the Development and Production phases of the Oilfield lifecycle

Subsea Market - Water Depth

-200m Saturation

-50m Air

Current Market Future Market

+200m ROV

9

Industry Outlook

Rebound in oil demand and easing credit markets has revived offshore capex programs

To meet demand, Douglas Westwood projects oil and gas production spending of $874 billion over the next 5 years

Oil price levels expected to hover above US $100/bbl justify increased exploration capex including deepwater projects, and budgeting stability for oil and gas companies

Global Offshore Capex Forecast

10

0

20

40

60

80

100

120

140

160

180

200

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015E

xpen

ditu

res

($ B

illio

ns)

Western Europe North AmericaMiddle East Latin AmericaEastern Europe and FSU AustalasiaAsia Africa

Source: Douglas-Westwood Swiber Holdings

Increasing Demand for Subsea Services

Increase in Subsea Tree Awards

Recent commercial discoveries will eventually lead to Field Development (FD) tendering Awards of subsea trees is a proxy of FD activity Increased level of subsea tree awards expected

Increase Subsea Capex Estimated subsea capex in 2015 will be more than double 2009 (Quest Offshore)

Increase Subsea Vessel Utilization

Spending on subsea vessels expected to surge over the next few years with Africa to remain thelargest market

Global expenditure will jump by 52% compared to the previous five years (Douglas – Westwood’sWorld Subsea Vessel Operations Market 2011- 2015)

11

Steady Inspection and Maintenance Services

As the number of installations grows, it supports inspection, repair, maintenance (IRM) business

Offshore structures must be regularly inspected and maintained due to harsh marine environments

Douglas Westwood projects IRM segment to grow 10% annually due to aging infrastructure, new wells and tighter safety standards

Growth in IRM Segment

12

0

1

2

3

4

5

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015U

S $

Billi

ons

Repair & Maintenance InspectionSource: Douglas-Westwood

Key Global Production Markets

Gulf Of Mexico (GOM)• Deep water• High cost• Extensive existing infrastructure• Very competitive• Restrictive regulatory environment• Close to market

Brazil• Strong growth in subsea activity (NOC)• Deep water focused• Reasonable regulatory environment

North Sea• Harsh environment• High costs and strict regulations• Mature market with well developed infrastructure and

marginal field growth• Competitive• Close to market

Mediterranean• Low cost• Low offshore expenditure outside Egypt• Reasonable regulatory environment• Close to market

West then East Africa• Shallow water to Deep water• Strong growth in subsea activity (Source: IOC & NOC) • Limited infrastructure but huge discoveries• Difficult entry barriers• Difficult operating environment• Far from developed markets• Rapidly developing

Asia Pacific• Low cost• Rapidly growing market• Highly competitive• Reasonable regulatory environment• Close to market

13

Africa Represents an Increasing Share of Global Production with Attractive Market Characteristics

Competitive Landscape

Tier One

• Turnkey Engineering, Procurement, Installation, Commissioning (EPIC) projects• Limited to the largest international players, such as Subsea 7, Technip and Saipem• Many Tier 1 companies are HydroDive clients, and on occasion direct competitors

Tier Two

• HydroDive’s primary market• Requires PMT, procurement and the use of midsized assets• Nigerian Competitors – predominantly only Fugro, CNS and ADS• Angolan Competitors – Octomar, Stapem, and international “fly-bys”• Other countries – only tier three competitors and international “fly-bys”

Tier Three

• Very competitive tier consisting of “brief case” contractors with connections• Generally they do not own any dive support assets or saturation systems • Often fail, proving opportunities for HydroDive

14

HydroDive is well-positioned to emerge as a regional Tier One player, with its increasing market share and expanding suite of services

Company Overview

15

Company Highlights

Market Leader

Established Reputation

Seasoned Management

Contract Backlog

Growth Potential

• Experienced operator in Nigeria with established performance reputation• Operational bases in both Lagos and Port Harcourt (Niger Delta)• High local content at all levels

• Own and operate offshore assets - 7 vessels, 17 deep air packages, 3 saturation dive systems• Only registered Nigerian company with IMCA diving membership• Unprecedented safety record• Experienced project management enabling us to complete simple to complex multi discipline projects

• Management Systems aligned with ISO9001, ISO1400 & OHSAS18001• Founded by David Ross in 1998 – 21 years experience in West Africa• Key management team with an accumulated 300+ man years of experience in the offshore oil and gas

services industry.

• Strategic acquisitions – additional DP2 construction vessel(s)• Develop Angola, Equatorial Guinea & Ghanaian infrastructure and customer portfolio• Develop Engineering department – local scholarships & tech transfer• Establish ROV capability• Pursue evolving markets in North Western Africa as well as East Africa 16

• Mobil OCIP II - Term contract = US$200m over 3 years• Long term IRM contract with Chevron = US$21m per year• Addax IRM contract estimated value = US$65m over 3 years• Shell buoys refurbishment = US$16m• Total bid book / conversion (2011 – 2013) = US$876M / U$321M (36%)• Back log (2013, 2014) = US$140m as of Sep 2013

Vessel Fleet

17

Subsea Capabilities

HydroDive maintains three 200-meter saturation diving systems and seventeen air diving systems

Diving systems are certified, maintained and operated in accordance with industry guidelines and applicable codes

All systems are portable and can be mobilized on company owned or third party vessels

Saturation System

18

Core Diving Service Offerings

Pipelay Support

Underwater Burning

Intense Inspection

4” – 12” Pipe Tie-in

Riser Clamp Installation

Pipeline Recertification

Light Inspection

Search & Recovery 12” – 54” Pipe Tie-in

Wet Welding

Hot Tap

Riser Installation

Single Point Mooring (SPM) Change Outs

Pipeline End Manifold (PLEM) Installations

Pipeline Facility Repair

Financial Summary

19

The historical results of the group shows that despite the financial downturn that significantly impacted global offshore activity for several years, HydroDive maintained profitability through the period, preparing to take advantage of opportunities as the market recovered in 2012. HydroDive is well-positioned to increase its share of the market in the region going forward.

In 2012, the HydroDive completed the acquisition of West African Oilfield Services Limited, adding capabilities in offshore construction and fabrication.

HydroDive assets are at close to full utilization, with need for additional assets to meet market demands, supporting plans for acceleration of capital investment program

The 2014 forecast incorporates the planned acquisition of an additional DP vessel in mid-2014

Consolidated Income Statement

Unaudited Projected2010A 2011A 2012A 2013E 2014E

Total Revenue $65,384,869 $63,991,846 $120,335,162 $144,707,548 $193,977,691

Cost of Sales 21,890,827 25,435,140 61,734,618 86,125,866 98,701,071

Gross Profit $43,494,042 $38,556,706 $58,600,543 $58,581,682 $95,276,620

Operating Expenses 26,650,252 23,639,253 28,611,160 22,184,227 32,178,250

Adj. EBITDA $16,843,790 $14,917,453 $29,989,383 $36,397,455 $63,098,370

Future Development

20

Business Development Summary

• Conventional fleet additions to further secure existing dominance of conventional depth market

• Target emerging marginal field developments

Further Strengthen

Market Position

• Acquisition of additional vessels• Develop Remote Operating Vehicle (ROV) capabilities & services

Expand Deep Water Capability

• Further develop presence in Angola, Ghana and Equatorial Guinea

• Seek opportunities in evolving East African markets

Regional Market Development

• Strategic acquisition opportunities• Further develop offshore construction and support capabilities in

other disciplines• Continued evolution into more integrated solutions provider

Capacity Expansion

21

A multipurpose DP2 support vessel equipped with Surface Air / Mixed Gas diving and optional Saturation diving and ROV support. The vessel supports Inspection, Repair, Maintenance & Construction projects with 1 x 17T, 500m2 deck space, 5m * 10m enclosed moon pool and 60 berths

HD CONTENDER

A multipurpose DP2 support vessel equipped with Surface Air / Mixed Gas diving and optional Saturation diving and ROV support, cable & flowline lay, hose changes & flushing. The vessel supports Inspection, Repair, Maintenance & Construction projects with 2 x 25T cranes, 60T A-Frame, 4-point mooring, 1,380m2 deck space

HD ENTERPRISE

A versatile 4-point moored vessel with in-built Surface Air / Mixed Gas diving. The vessel supports Inspection, Repair, Maintenance & Construction projects with 1 x 10T @ 15m crane, 4-point mooring, 160m2 deck space and 50 berths

HD SCORPION

A versatile 4-point moored vessel with in-built Surface Air / Mixed Gas diving. The vessel supports Inspection, Repair, Maintenance & Construction projects with 1 x 10T @ 15m crane, 4-point mooring, 166m2 deck space and 20 berths

HD SCORPION HD STEADFAST

A versatile 4-point moored vessel with in-built Surface Air / Mixed Gas diving. The vessel supports Survey, Inspection, Repair, Maintenance & Construction projects with 1 x 10T @ 15m crane, 4-point mooring, 110m2 deck space and 22 berths

HD SCORPION HD BON ACCORD

HD SCORPION HD PRIDE

A versatile 4-point moored vessel with in-built Surface Air / Mixed Gas diving. The vessel supports Inspection, Repair, Maintenance & Construction projects with 1 x 10T @ 15m crane, 4-point mooring, 190m2 deck space and 32 berths

A versatile Light Dive Boat with in-built Surface Air / Mixed Gas diving system. The vessel is highly shallow draft and highly maneuverable for support on Survey, Inspection, Repair and Maintenance projects in shallow or deep waters.

HD SCORPION JACK SPARROW