CORPORATE PRESENTATION

Rio de Janeiro |March 2013 |

ORGANIZATIONAL STRUCTURE

2

EBX FREE FLOAT

OSX SERVIÇOS OSX LEASING

Integrated offshore E&P equipment and services provider

77.64% 22.36%

Holding

90% 100% 100%

10%

HYUNDAI

Shipbuilding Unit Leasing Services

Controlling Shareholder & Management*

* Represented through Centennial Asset Mining Fund LLC. , Eike Batista (indirectly owns 100% of Centennial Asset Mining LLC), Board of Directors and Board of Executive Officers

OSX PILLARS

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Attractive Market Conditions in Brazil

Local Content Requirement

Demand from OGX

Strategic Partnership with Hyundai

Incentivized and Experienced Management Team

More than 30 years experience, on average, in the E&P sector US$ 30bn in projects and more than 50,000 people under management

Approximately 70% of E&P industry Capex supplied locally Key for Brazil’s long-term social and economic development (285,000 jobs in 5

years)

Priority Rights between OSX and OGX

Partnership with the largest shipbuilder in the world State-of-the-art technology and transfer of know-how Construction of the largest shipyard of the America's in the Açu Superport

Industrial District

Expected oil and gas resources to increase to 100 Bboe, with announced investments of US$ 140bn plus

Underserved domestic equipment & services market

Training (ITN)

ITN –Institute of Naval Technology , partnerships with technical institutions and universities

Absorption and application of Korean technology Qualification of 3,100 technical personnel until 2013

ORGANOGRAM: EXPERIENCED & MOTIVATED TEAM

Paulo Ricardo (28) Exploration Campos & ES

Roberto Toledo (31) E&P Laboratory

Celso Martins (34) Onshore Basin

Carlos Bellot (34) CEO

Environment, Health and Safety

Heraldo Albuquerque (27)

Danilo Baptista (35) Shipyard Operations Officer

Ricardo Abi-Ramia (24) Operations, Engineering,

Leasing and Developing Officer

Luciano Porto (21) Chief Legal Officer

João Borges (20) Chief Financial Officer and Investor Relations Officer

xxxxx

Ivo Dworschak (35) Shipbuilding Unit

Management Planning Heleno Barbosa (33)

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Comunicação Roberta Brandão

Commercial Department Rodrigo Lopes (25)

Recursos Humanos Monica Barbosa

Anna Kac (34) Engineering

Arnaldo Arcadier (34) Construction, Assembly and

Integration

Contratos e Afiliadas

Adilson Araújo (29) Contracts & Affiliates

Francisco Crisostomo (35) Operation & Production

Eónio Rocha (14) Logistics

Heleno Barbosa (33) New Projects/Well

Intervention

Léo Zimmermann (34) ITN Training/Partners/ Research

More than 50 engineers with an average of 26 years experience

Total OSX employees: approx. 900 Total employees involved in the

operations: 2,750

Regina Ozorio (31) New Ventures

(xx) Years of experience

PORTFOLIO AND

ORDER BOOK

FPSO

WHP

Drillship

PLSV

Tanker

TLWP

Floating, Production, Storage and Offloading Unit

Fixed drilling & production platforms ( Wellhead Platform)

Drilling units heavily demanded for ultra-deep water’s

Maritime Transportation Unit

Tension-Leg Wellhead Platform Pipe-Laying Support Vessel

PRODUCT PORTFOLIO

6 Image courtesy of Hyundai Heavy Industries Image courtesy of IHC Offshore&Marine B.V.

Image courtesy of Hyundai Heavy Industries Image courtesy of Hyundai Heavy Industries

Image courtesy of Hyundai Heavy Industries

FPSO OSX-1 : Guanabara Bay, RJ, Brazil

UCN Açu designed and equipped to meet diverse orders

CURRENT ORDER BOOK

7 * Delivery at the shipyard (ex-installation) 1- OSX with a 49% stake of total contract

CLIENT UNIT CAPACITYESTIMATED PRICE

(US$ MM)DELIVERY*

CONSTRUCTION

LOCATION

OSX LEASING

& SERVICES

OGX FPSO OSX-1 80K bopd 610 OK SAMSUNG, KOREA

OGX FPSO OSX-2 100K bopd 775 3Q13 KEPPEL, SINGAPORE

OGX FPSO OSX-3 100K bopd 800 3Q13 JURONG, SINGAPORE

OGX FPSO OSX-4 OSX, BRAZIL

OGX FPSO OSX-5 OSX, BRAZIL

OGX WHP-1 30 wells 400-450 2Q14 TECHINT, BRAZIL

OGX WHP-2 30 wells 400-450 4Q13 TECHINT, BRAZIL

OGX WHP-3 OSX, BRAZIL

OGX WHP-4 OSX, BRAZIL

SAPURA PLSV N/A 263 4Q14 OSX, BRAZIL

KINGFISH 11 MRs N/A 732 2Q15 - 4Q17 OSX, BRAZIL

PETROBRAS 2 FPSOs 150K bopd 900¹ 3Q16 - 3Q17 OSX, BRAZIL

Expecting Technical Specifications from Client

Expecting Technical Specifications from Client

Expecting Technical Specifications from Client

Expecting Technical Specifications from Client

P

P

P

P

P

P

P

P

P

Petrobras FPSOs demand up to 2020

Source: PNG Petrobras 2012-16

Legend:

Contracted Units

Planned Units

Leased Units*

Baúna e Piracaba

(Cid. Itajaí)

Roncador III (P-55)

Iracema Sul (Cid.

Mangaratiba)

Iracema Norte (Z1)

Franco NW (P-75)

Franco NE (P-77)

Franco Leste (CO7)

Maromba (ND)

Espadarte III

(ND)

Baleia Azul (Cidade

Anchieta)

Papa-Terra (P-63)

Papa-Terra (P-61)

Piloto Sapinhoá (Cid. SP)

Piloto Lula NE (Cid. Paraty

Sapinhoá Norte

(cid. Ilhabela)

Roncador IV (P-62)

Norte Pq. Baleias (P-58)

Lula Norte (P-69)

Carioca 1 (Z2)

Franco (P-74)

Lula Sul (P-68)

Lula Central (P-67)

Lula Alto (P-66)

Iara NW (P-72)

Aruanã (ND)

NE Tupi (P-76)

Iara Horst (P-71)

Carimbé (ND)

Lula Extremo Sul

(P-70)

Carcará (P-73)

Júpiter (ND)

Sul de Guará (CO6)

Franco SW (CO5)

Espadarte I (ND)

Sul Pq. Das Baleias (ND)

Bonito (ND)

Entorno de Iara (CO8)

Florim (CO9)

Under Evaluation

Bidding

OGX – Orders and Potential Demand 2020

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Cenário OGX - Nova previsão

FPSO 1 2 1 2 1 1 2 1 1 1

WHP 2 2 2 1 2 1 1 1

TLWP 1

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Contracted

a

Main Bulk Materials for OSX Portfolio

Structure steel plate profile steel beam bulb bar

Piping pipes and fittings ( carbon steel, stainless/ Cu-Ni / superduplex )

Valves manual and actuated

E&I

cable tray (fibber / carbon steel / stainless eletric and instrument cable

miscellaneous

paints & solvents

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SHIPBUILDING UNIT

LOCALIZAÇÃO UCN AÇU: SUPERPORTO DO AÇU

A One-Stop Shop for the Oil & Gas Industry

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AÇU SUPERPORT

COMPLEXO INDUSTRIAL DO AÇU

A New Cluster for the Offshore and Heavy Industry

AÇU INDUSTRIAL COMPLEX

90 km² Industrial Complex (1.5 x larger than Manhattan Island) or = Copacabana/Leme Area)

UCN AÇU: THE LARGEST SHIPYARD OF THE AMERICAS

Partnership with Hyundai Heavy Industries

Steel assembly capacity of 220,000 ton/year

Up to 3,525 m water front (2,400 m in first phase)

Beginning of construction in July 2011

End of construction in December.2014

Commercial partnership with Hyundai

Capacity to integrate up to 11 FPSOs and 8 WHPs simultaneously

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Main entrance

Office buildings

Production workshops (manufacturing of blocks, structures, accessories and pipes)

Industrial facilities

Module assembly area

Jacket pre-assembly area

Jacket assembly area

Dry Dock

Quay

Quay Expansion

UCN AÇU: IMPLEMENTATION STATUS

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OSX really hope to see your Company in our Açu MM Pole!

Thank you!

Questions?

INFORMATION ABOUT LOCAL CONTENT REQUIREMENTS

LOCAL CONTENT: RATIONALE AND EVOLUTION Represents a social & economic development strategy Has increased significantly in recent ANP bidding rounds

Notable Companies Committed to Local

Content

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Local Content Requirement

■ Definition: minimum percentage of equipment and services contracted by the operator that must be supplied by local companies

■ Average of 70% in the production development phase

■ Component of the bid for acquisition of E&P Blocks

■ Certification of each item by inspection companies (guidelines set forth by Federal Government – MME)

■ Subject to severe penalties

Local Content Rationale

■ Boost local oil & gas equipment and services industry

■ Incentivize local technology development

■ Substantially increase employment and income

Local Content Evolution

Source: ANP Note (1) 8th ANP bidding round auction is still under discussion

25%

42%

28%

39%

79% 86%

74% 69%

79%

27%

48%

40%

54%

86% 81%

77%

84%

1st 2nd 3rd 4th 5th 6th 7th 8th (1) 9th 10th

Exploration Phase

Development Phase

Objective

■ Increase the participation of the local industry in the oil and gas sector in a competitive

basis

■ Increase the local capacity and technology development

■ Increase quantitative and qualitative qualification of local labor force

■ Increase generation of local employment and money income

Application

■ Concession Contracts from ANP (National Oil Agency) from 7th and following Rounds, for

exploration and pre production phases and for contracts signed after 11th September

2008.

1- OBJECTIVE AND APPLICATION

2- HISTORY

LOCAL CONTENT IS REQUIRED ON ALL ROUNDS

1999 2000 2000 2000 2000 2000

1999 2000 2001 2002

2000

2003 2004 2005 2006 2007 2008

LC CERTIFICATION

5th and 6th Rounds

Requirement of minimum LC. End of incentives.

7th to 10th Round LC offer limited between minimum and maximum %. Certification of local content for 3rd party. Adoption of the ANP calculation tool as the measurement tool.

1st to 4th Round Free LC.

Presence of incentives.

Local Content measurement

■ ANP calculation tool specially developed for the LC measurement:

- LC of goods is calculated excluding the value of imported parts

- LC of services is calculated taking into account salaries and additional taxes of

Brazilian citizens and foreign people with Brazilian permanent visa

Rules for the Operator

■ Companies who have Concession Contracts with ANP need to report achieved values for

each one of the items in their contracts on a quarterly basis

■ The obligations of the Dealers as to local procurement of goods and services is proven to

ANP by the presentation of certificates of Local Content.

■ The Concessionaires should ask their suppliers of goods and services the certifications for

their products.

■ For unrealized percentage, ANP will apply penalties in accordance with the established on

the Concession Contract.

3- CONTRACTUAL REQUIREMENTS

Rules for Certification Companies

■ Measurement is made by Certification Companies previously approved by ANP

■ Certification Companies issue Local Content Certificates with the values found

■ Certification Companies are audited by ANP

3- CONTRACTUAL REQUIREMENTS

Thank you!