General Announcement::FY2021 Results Briefing Presentation

Marco Polo Marine Limited

FY2021 Results Presentation

Dec 2021

DISCLAIMER

This presentation prepared by Marco Polo Marine Ltd (the "Company") does not constitute, or form part of, an offer to sell or the solicitation of an offer to subscribe for or buy any securities, nor the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issue or transfer of the securities referred to in this presentation in any jurisdiction in contravention of applicable law. Persons requiring advice should consult their stockbroker, bank manager, solicitor, accountant or other independent financial consultant.

This document is confidential and has been made available in confidence. It may not be reproduced, disclosed to third parties or made public in any way or used for any purpose other than in connection with the proposed investment opportunity without the express written permission of the Company.

This presentation should not be relied upon as a representation of any matter that an advisor or potential investor should consider in evaluating the Company. The Company and its related bodies corporate or any of its directors, agents, officers or employees do not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements or representations contained in this presentation, and they do not accept any liability whatsoever (including in negligence) for any information, representation or statement made in or omitted from this presentation.

This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward looking statements. The Company makes no representation or warranty, express or implied, as to or endorsement of the accuracy or completeness of any information, statements or representations contained in this presentation with respect to the Company

It is acknowledged that the Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this presentation except as required by law or by any appropriate regulatory authority.

2

Stock Data

Corporate Overview

Regional integrated marine logistics company which principally engages in

ship chartering and shipyard businesses

				Lee
				Family
SGX:5LY	~S$99m*	48.5%	17.2%	~15%

8.6%8.6%

Stock Code	Market Cap	Free Float	Major Shareholders
	*Based on share price of S$0.028

3

Complementary Business Segments

Marco Polo Marine Ltd

Ship Chartering

Ship Building & Repair

MAINTANENCE WORK VESSELS

OSVs (AHTs &

AHTSs)

TUGS & BARGES

• 11 OSVs and 2 Maintenance Work vessels (MWV)s (average age: 4-13 years)
• 24 Tugs and Barges (average age: 5-12 years)
• Indonesian presence through PT BBR Tbk, listed on IDX

SHIPBUILDING

CONVERSION &

OUTFITTING

REPAIR &

MAINTENANCE

• One of the larger shipyards in Indonesia
• Ship building, conversion and outfitting
• Offshore fabrication works
• Ship repair and maintenance (more than 1,000 repair projects completed in last 10 years)

4

Financial Overview

			Revenue S$m													Net (debt)/cash (S$m)
									200
30							25.0		100																																	FY2021
25				18.6		21.1																																		S$16.1m
		17.8
20
							0
11.5	12.4					14.3	$Sm
15			12.3	11.7	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021
7.4	8.7
			-100
10		6.2
6.1			8.5
5		10.3	9.9	9.4	10.7
5.3	6.2	3.8		-200
0
2HFY2018	1HFY2019 2HFY2019	1HFY2020	2HFY2020	1HFY2021	2HFY2021		-300

Shipchartering Shipbuilding & repairs

Operational EBITDA* (S$m)

12

10	9.8
7.8
8

S$m	6
	4	2.0
	2		0.9
	0
	FY2018	FY2019	FY2020	FY2021

*Excluding share of results from Joint Ventures

Strong Earnings Turnaround

• Record high operational EBITDA since the debt restructuring in 2017

Positive Outlook

• Higher demand from both the O&G and offshore windfarm segment has driven recovery in utilization in FY2021
• Cautiously optimistic of higher charter rates amidst continued strong demand for vessels by both O&G and offshore windfarm sector
• Diversification into sustainable sector with strong demand from offshore windfarms

Robust Net Cash Position

• S$16.1m as of 30 Sep 2021	5