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FACT SHEET

MERMAID GROUP

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Having served the Oil & Gas industry for over 30 years,

Mermaid boasts a proven track record of subsea excellence.

With operations throughout South East Asia and the Middle

East, Mermaid plays a pioneering role in the global subsea

markets. Mermaid has the ability provide a subsea solution,

in any water depth which involve complex and challenging

engineering, in any region of the world for the Oil and Gas

markets.

Owning and operating a fleet of subsea construction,

intervention and survey vessels that enable us to offer

differentiated positions with our clients, Mermaid focuses

on long term relationships that enhance our service delivery

and reduce overall risk.

With a team of over 1,000 people worldwide our core

business is in subsea engineering, IRM, project management,

vessel chartering and operations, survey, ROV and diving

operations. Our Mission is to provide subsea engineering

solutions to the offshore oil & gas industry that are safe,

efficient and on budget, every time.

“We operate internationally, as

one integrated group, globally

aware and locally sensitive ”

Mr. Prasert BunsumpunChairman

30+ years industry experience including CEO of Thailand’s National Oil Company PTT and Chairman of PTT Exploration and Production

Mr. Chalermchai MahagitsiriExecutive Vice Chairman & CEO

Proven track record of successfully managing and growing a variety of businesses including coffee, steel, copper, shipping, media, entertainment, food and beverage, resorts and golf courses

VISIONTo become the leading integrated subsea service provider by delivering technically-unique solutions and creating high value

for our customers and shareholders.

VALUESRespect

Enhancing Value

Safety Commitment & Performance

Protecting the Environment

Ethical Business Standards

Compliance with Policies & Procedures

Technically Leading Solutions

MISSIONTo provide subsea engineering solutions

to the offshore oil & gas industry that are safe, efficient and on budget, every time.

VISION, MISSION, VALUES

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MERMAID MILESTONES

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Founded by Danish mariners as Mermaid Marine Services Ltd. to provide offshore marine services such as life raft and firefighting maintenance services

Expanded into tender drilling rig business by acquiring two tender rigs

Successfully raised S$246m from its IPO on the Singapore Stock Exchange (SGX)

Acquired Seascape Surveys for access to hydrographic and positioning services

Acquired Subtech Middle East to expand subsea services in Middle East and Arabian Gulf

Acquired 33.76% stake in Asia Offshore Drilling to expand into jack-up drilling rig business

PM Group Acquires Thoresen:

• Provided leadership stability

• Implemented new strategic direction

• Strengthened the core, and drove profit turnaround

Achieved record US$45m net profit

New cable-laying business in Middle East

Impairment loss to reflect asset market value

Expanded business to new geographical areas: Malaysia; Singapore; and countries in the Middle East

Business turnaround from successful cost saving projects

Low gearing of c.0.1x with no bonds and no capex outstanding

1983 2005 2007 2008 2010 2012 2014 2015 2016 2017 2018

Stabilized the company for the future growth

GLOBAL SERVICE SPECIALIST

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Initial Exploration Field Development Production Abandonment

“Predominantly focused on the production phase of the offshore oil and gas value chain.”

1 - 2 years 3 - 5 years 15+ years 1 year

SeismicAppraisal

DrillingDevelopment

Drilling

FieldCommissioning & Installation

Cable LayingMaintenance & Inspection

Decommission

NOC / IndependentsSpending Priority ◔ ◔ ◐ ◐ ● ● ◐

Most Priority Least Priority

Field Development - Subsea support vessels assist in, among other things, survey and preparations of the seabed, installation of modules, umbilical cables and risers, as well as provision of Remotely Operated Vehicles (ROVs) or divers for tie-in and testing.

SUBSEA

Production - Once installed, the equipment is surveyed and maintained, together with both larger repair and development campaigns.

Abandonment - To cease efforts to find or produce from a well or field, and to plug well and salvage material and equipment - subsea vessels are utilized.

Subsea engineering services also include Underwater Cable Laying Services for telecommunications, electric power transmissions, or other purposes.

Jack-up Rig is a mobile self-elevating drilling platform equipped with legs that can be lowered down to the ocean floor. Once a foundation is established, the drilling platform is elevated to a level above the highest expected wave height. When the rig is relocated, the platform is lowered to sea level and towed by a supply vessel to its next location.

DRILLING

MERMAID GLOBAL FOOTPRINT

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Qatar

Saudi ArabiaUAE Thailand

SingaporeMalaysia

Indonesia

FLEET & ASSETS

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15ROVs

6+17 SATURATION

AND AIR DIVING

SYSTEMS

Endurer

Built 2010DSVMiddle East

Asiana

Built 2010DSVMiddle East

Commander

Built 1987DSVThailand

Sapphire

Built 2009RSVMiddle East

Challenger

Built 2008MVThailand

Siam

Built 1991DCSBMiddle East

Barakuda

Built 1982SSIndonesia

Ow

ned

Ves

sels

Assets & Equipment

Our Subsea Fleet and Assetspecialize in IRM, survey andconstruction installation support,subsea decommissioning, subseavessels and specialized work ROVservices.

Complex IRM operations are madeefficient through Mermaids ongoinginnovation and dedicated people.

Subsea Services:

• Cable & SURF Installation

• Full compliment of Subsea Engineering

• Inspection, Repair & Maintenance (IRM)

• Subsea Infrastructure Installation Support

• Remotely Operated Vehicle (ROV) Support

• Survey and Positioning Services

Drilling Services

AOD I, II, III

OUR CLIENTS

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International Oil & Gas Companies Major EPCIC ContractorsNational Oil & Gas Companies

A Company Moving Forward

mermaid-group.com

ir@mermaid-group.com