Opportunities for a wind farm EPCI provider in the Baltic Sea

Varsinais-Suomen tuulivoimaseminaari

Lieto, December 8, 2011

09 December 2011 | Page 1 STX Business Group - a Korean conglomerate with broad interests A multi-billion USD global company

No. of affiliates Korea 16 / Others 53

Revenue Order intake (Unit : Billion $US) Employees (Unit : Thousand) (Unit : Billion $US) 56 54 26 31 29 31 40 40 21 24 19 15

07 08 09 10(P) 07 0809 10(P) 07 08 09 10(P) One of the few companies with a global shipbuilding base

Finland – Cruise & Ferries Norway – OSVs LNGC Specialized Vessel Ice Breaker

China – Bulkers PCTC Drillship FSO Pipelayer

France – Cruise & Ferries Naval Vessels

Romania – Bulkers Vietnam - OSVs Korea – LNGC OSVs FPSO VLCC Brazil – OSVs Mega Container STX – business units and total headcount

total ~2700

Rauma Cabins AARC Eng'D SC STX Finland orderbook covers a range of advanced vessels

Name Delivery Owner Yard Spirit of France III / 2011 P&O Ferries Rauma (1368)

Polar Supply and Research Vessel II / 2012 DEA Rauma (1369)

Cruise Ferry (1376) II / 2013 Turku

Icebreaking Supply Vessels III / 2013 Sovcomflot STX Finland orderbook covers a range of advanced vessels (2)

Name Delivery Owner Yard Fisheries Reseach Vessel II / 2012 MFMR of the Rauma Republic of Namibia

Multipurpose Deck Cargo Vessel II / 2012 Gaiamare Turku (1379)

Generation Double ended Ferry IV / 2012 Finferries Rauma (1380)

Highly sophisticated well III / 2013 Eide Marine Rauma intervention vessels (2) IV / 2013 Services A/S

Cruise vessel II/ 2014 TUI Cruises Turku in Finland

Turku World leading builder of the most advanced cruise ships.

Rauma World leading builder of the most advanced passenger ferries . Specialized also in building small cruise ships, arctic vessels and navy ships.

Arctech Helsinki Joint venture with russian United Shipbuilding Corporation. The most experienced builder of arctic vessels. Specialized also in building small cruise ships and other special vessels. Cost-effective windpark turnkey delivery and lifecycle services The local conditions differ from the North Sea – there is a need for a new low cost approach to installation, O&M and lifecycle mgmt

European wind resource map Primary market – ”semi arctic Wind velocity m/s (2000-2005) shallow waters” Secondary market – Big markets; North Sea, south Baltic Sea

Special conditions – shallow, icy, winds somewhat lower than in North Sea

Tariffs do not allow high cost approach

Available installation vessel fleet quite weak/old

Big players focusing on ”Big markets” (North Sea)

09 December 2011 | Page 10 Together we can offer a complete solution for offshore windpark planning and design, O&M, retrofits and decommissioning Consortium roles across the value chain and life cycle

Consortium’s scope– turnkey supplier with strong concept design capability

Foundation Wind park Electrical Installation Maintenance and design and Installation and design and Turbine network vessels and service, retrofits, manufacturing, project mgmt measurements equipment equipment decommissioning site preparation Key • Hafmex • STX • STX Finland • Can use own • Gaiamare* • STX Finland • Hafmex consortia • Biota Tech Windpower • (STX France) vessels • Meriaura Group • STX Windpower • Gaiamare* partners • STX • 3rd party • Meriaura Group • 3rd party • 3rd party • Meriaura Group • Meriaura Group Windpower turbines if • 3rd party sub- sub- chartered • Hafmex • STX Finland applicable contractors contractors vessels • STX Windpower

Back- • Experience • Simple, • STX Finland • Existing • Multipurpose • STX has req’d • Hafmex ground from Finnish reliable and focusing on multipurpose vessels Aura I large project Engineering and Asian cost-effective foundations for vessels can and II for all experience and experience of installations solution by shallow and/or be used for logistics needs resources for Högsåra • Högsåra STX (direct arctic waters cable laying • General cargo overall maintenance windpark drive, • (STX France • STX Finland vessels responsibility • Trimaran service reference permanent focusing on has strong • Potential • STX Windpower vessel • Measurement magnet) North Sea electrical investment: staff with 20yrs • Potential equipment, • Scaling up to foundations) equipment Semi-jackup of installation investment: software and 3 and 5MW • Additional sub- barge with experience service vessel modeling • Can work engineering contractor mobile crane • Meriaura Group fleet capability in with 3rd party resources network • Current industrial and • Installation place turbines if through STX through past approach offshore logistics resources used applicable • Vessels suitable offshore, focusing on mgmt experience for retrofits, de- for site cruise and simple standard • Hafmex commissioning preparation work ferry work crane for best experience of • STX committed to *STX Finland and Meriaura JV cost efficiency leading Högsåra build and provide project full scale service

09 December 2011 | Page 11 Hafmex has conducted wind measurements with state-of-the-art equipment since 2010 Hafmex overview Equipment •Since early 2010, we have been operating one • Wind measurements with Sodar units AQSystems AQ500C WindFinder Sodar device in •AQ500C Wind Finder S-W and Central Finland •Toragon Wind Collector 2 •Now extending capacity with newest AQSystems and Toragon sodar equipment • Wind measurements with met masts •We provide our customers high-quality wind •Vaisala wind meters measurement data, analysis, and all evaluations •Thies wind meters needed for the permitting process •100m high lattice met masts, also telescopic

09 December 2011 | Page 12 STX Windpower offers direct drive wind turbines that are well suited for the Northern Baltic Sea region STX Wind direct drive turbine overview

Key characteristics

•Extremely simple and cost- effective design

•Proven base technology

•First STX design for generator 2MW PM

•Implementation of individual pitch control (IPC)

•Suitable for off-shore conditions

•All joints with bolted flange connection

•Low tower top mass: 115 ton

09 December 2011 | Page 13 At STX Turku yard, manufacturing of foundations and tower elements is done cost effectively and with good logistical access

• Existing equipment suitable for production of foundations, towers and spars • Limited investment needed (special welding and rolling beds) • Lifting and loading capacity available, room for storage • No disturbance on vessel production – can optimize for industrial production • Access by rail and sea

09 December 2011 | Page 14 At STX Rauma yard, parts production and pre-assembly can be done, and there are plans for a small developmental windpark

09 December 2011 | Page 15 Meriaura has already built a solid track record taking part in North Sea windfarm logistics efforts Meriaura overview

•Meriaura specializes in marine transport of raw materials and project cargo for industrial purposes •Experienced logistic service provider, shipping company and vessel operator •Proven track record in large project management, specifically in the area of special transports on land and sea

Sheringham Shoal Offshore Wind Farm Walney 2 offshore wind farm

09 December 2011 | Page 16 Our approach to logistics and installation is built on using one cost effective set of multipurpose vessels for all steps including O&M

09 December 2011 | Page 17 Hafmex Engineering offers a comprehensive list wind turbine services Hafmex Engineering overview

Full scale of wind turbine services •24h supervision and remote control of wind turbines •Fault diagnostics and repairs •Full maintenance for all electrical, mechanical and hydraulic components •Spare parts logistics •Planning of maintenance intervals •Retrofits •Documentation of wind turbine operation and service processes •Cooperation with large number of industry specialists, broad network

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