1

1 Investor Presentation March 2019

2

2

This presentation contains forward-looking statements (as such term is defined in Section 21E of the

Securities Exchange Act of 1934, as amended, or the Exchange Act) concerning operations, cash flows, and

financial position of Seaspan Corporation (“Seaspan”), including, in particular, the likelihood of its success in

developing and expanding its business. Statements that are predictive in nature, that depend upon or refer to

future events or conditions, or that include words such as “continue,” “expects,” “anticipates,” “intends,”

“plans,” “believes,” “estimates,” “projects,” “forecasts,” “will,” “may,” “potential,” “should,” “guidance,” and

similar expressions are forward-looking statements. These forward-looking statements represent Seaspan’s

estimates and assumptions only as of the date of this presentation and are not intended to give any

assurance as to future results. As a result, you are cautioned not to rely on any forward-looking statements.

Forward-looking statements appear in a number of places in this presentation. Although these statements

are based upon assumptions Seaspan believes to be reasonable based upon available information, they are

subject to risks and uncertainties. These risks and uncertainties include, but are not limited to: future growth

prospects and ability to expand Seaspan’s business; Seaspan’s expectations as to impairments of its

vessels, including the timing and amount of currently anticipated impairments; the future valuation of

Seaspan’s vessels and goodwill; potential acquisitions, vessel financing arrangements and other

investments, and Seaspan’s expected benefits from such transactions; future time charters and vessel

deliveries, including future long-term charters for certain existing vessels as well as the likelihood of

consummating any such transactions; estimated future capital expenditures needed to preserve the

operating capacity of Seaspan’s fleet including, its capital base, and comply with regulatory standards, its

expectations regarding future dry-docking and operating expenses, including ship operating expense and

general and administrative expenses; Seaspan’s expectations about the availability of vessels to purchase,

the time that it may take to construct new vessels, the delivery dates of new vessels, the commencement of

service of new vessels under long-term time charter contracts and the useful lives of its vessels; availability

of crew, number of off-hire days and dry-docking requirements; general market conditions and shipping

market trends, including charter rates, increased technological innovation in competing vessels and other

factors affecting supply and demand; Seaspan’s financial condition and liquidity, including its ability to borrow

and repay funds under its credit facilities, to refinance its existing facilities and to obtain additional financing

in the future to fund capital expenditures, acquisitions and other general corporate activities; Seaspan’s

continued ability to meet its current liabilities as they become due; Seaspan’s continued ability to maintain,

enter into or renew primarily long-term, fixed-rate time charters with its existing customers or new customers;

the potential for early termination of long-term contracts and Seaspan’s potential inability to enter into, renew

or replace long-term contracts; the introduction of new accounting rules for leasing and exposure to currency

exchange rates and interest rate fluctuations; conditions inherent in the operation of ocean-going vessels,

including acts of piracy; acts of terrorism or government requisition of Seaspan’s containership during

periods of war or emergency; adequacy of Seaspan’s insurance to cover losses that result from the inherent

operational risks of the shipping industry; lack of diversity in Seaspan’s operations and in the type of vessels

in its fleet; conditions in the public equity market and the price of Seaspan’s shares; Seaspan’s ability to

leverage to its advantage its relationships and reputation in the containership industry; compliance with and

changes in governmental rules and regulations or actions taken by regulatory authorities, and the effect of

governmental regulations on Seaspan’s business; the financial condition of Seaspan’s customers, lenders,

refund guarantors and other counterparties and their ability to perform their obligations under their

agreements with us; Seaspan’s continued ability to meet specified restrictive covenants and other conditions

in its financing and lease arrangements, its debt instruments and its preferred shares; any economic

downturn in the global financial markets and export trade and increase in trade protectionism and potential

negative effects of any recurrence of such disruptions on Seaspan’s customers’ ability to charter Seaspan’s

vessels and pay for Seaspan’s services; some of Seaspan’s directors and investors may have separate

interests which may conflict with those of its shareholders and they may be difficult to replace given the anti-

takeover provisions in Seaspan’s organizational documents; taxation of Seaspan’s company and of

distributions to its shareholders; Seaspan’s exemption from tax on U.S. source international transportation

income; the ability to bring claims in China and the Marshall Islands, where the legal systems are not well-

developed; potential liability from future litigation; and other factors detailed from time to time in Seaspan’s

periodic reports.

Forward-looking statements in this presentation are estimates and assumptions reflecting the judgment of

senior management and involve known and unknown risks and uncertainties. These forward-looking

statements are based upon a number of assumptions and estimates that are inherently subject to significant

uncertainties and contingencies, many of which are beyond Seaspan’s control. Actual results may differ

materially from those expressed or implied by such forward-looking statements. Accordingly, these forward-

looking statements should be considered in light of various important factors listed above and including, but

not limited to, those set forth in “Item 3. Key Information—D. Risk Factors” in Seaspan’s Annual Report for

the year ended December 31, 2018 on Form 20-F filed on March 26, 2019, and the “Risk Factors” in Reports

on Form 6-K that are filed with the Securities and Exchange Commission, or the SEC, from time to time

relating to our quarterly financial results.

Seaspan does not intend to revise any forward-looking statements in order to reflect any change in

Seaspan’s expectations or events or circumstances that may subsequently arise. Seaspan expressly

disclaims any obligation to update or revise any of these forward-looking statements, whether because of

future events, new information, a change in Seaspan’s views or expectations, or otherwise. You should

carefully review and consider the various disclosures included in this Annual Report and in Seaspan’s other

filings made with the SEC, that attempt to advise interested parties of the risks and factors that may affect

Seaspan’s business, prospects and results of operations.

Notice on Forward Looking Statements

3

3

Container Shipping Is An Essential Part of Global Commerce

China Shoe Store

Liners load and unload goods across ocean routes just as couriers operate routes through land and air

4

4

Container Shipping Industry Value Chain

Manufactured goods for distribution

Land transport to distribution

centers

Loading of cargo at port

terminals

Unloading of cargo at port

terminals

Land transport to destination warehouse

Delivery to customer

Seller Buyer End buyer of shipments

(importers / exporters)

Shipper Destination

Warehouse

Destination Port

Consignee Origin

Warehouse

Origin Port

Shipping Line

Shipping voyage

via container

ships

Freight-Forwarder

5

5

Containerization & Global Trade

Container

Shipping’s first

downturn since

1998

1.2%

1.6%

2000-2007 2011-2019F

2001: China joins

WTO 2011: China becomes 2nd

largest global economy

Container shipping accounts for 17% of global shipping by weight but 60% by value (over $12 trillion of

goods in 2017)3

Global TEU Trade CAGR: 9.9%

Global GDP2 CAGR: 3.4%

TEU to GDP Multiple: 2.9x

3.9%

2.8%

1.3x 1.4x

1978: China

Economic Reforms

1990: Social Market

Economy of China

(TEU, millions1)

1. Clarkson’s Research – March 2019

2. GDP Source: World Bank

3. Statista Container Shipping Statistics & Facts

412

67 7076

8495

105117

129135

122

139150 155

163171 175

182193 196

204

'73 '83 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19F

update

6

6

112 Vessels

98% Average Utilization Since IPO3

4,600 employees 4,300 Seafarers

300 Corporate

#1 Independent Containership

Owner / Operator

~6 years Average Age

~4.5 years Average Remaining Charter Period

$4.8bn Contracted Future

Revenue2

Long-term Charters with

7 of 8 Leading Liners

$484mn Cash Flow from Operations1

Integrated with Global Trade Modern Fleet Strong Financial Profile

Seaspan at a Glance

1. Based on fiscal year ended December 31, 2018

2. Minimum future revenues to be received on committed time charter party agreements and interest income from direct financing leases as of December 31, 2018. Minimum future

revenues are based on 100% utilization, relate to committed time charter party agreements currently in effect, and assume no renewals or extensions

3. Average fleet utilization from 4Q05 to 4Q18

$1.1bn Revenue1

update

7

7

Issued $345mn

unsecured listed

bond

Seaspan Has Led the Industry Since Its Infancy

13 # Vessels 23 29 35 42 55 65 69 71 77 85 87 89 112

SCLL, predecessor of Seaspan

Corp, founded by Kyle Washington

and two others

Issued $250mn Series C Preferred Equity (1st

U.S. listed preferred by containership lessor)

Containership JV with The Carlyle Group

Acquired Seaspan

Management Services

$600mn SSW IPO

(largest ship leasing)

Washington Family

invested $180mn

Completed $1.6bn GCI

acquisition

Secured $1.0bn

investment from Fairfax

2000 2005 2010 2015 2018

Utilization 100% 99% 99% 99% 100% 99% 99% 99% 98% 99% 99% 96% 96% 98%

51 64108

143 158 187

265

353405 414

474

578621

666

906

IPO 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 4Q18

> 10,000 TEU

8,500 - 9,600 TEU

4,250 - 5,100 TEU

< 3,500 TEU

update

8

8

Key Recent Developments

New

Leadership

Team

David Sokol appointed as Chairman

Bing Chen appointed as President and CEO

Ryan Courson appointed as CFO

Tina Lai appointed as CHRO

Torsten Pedersen appointed as EVP Ship Management

Fairfax

Investments

Secured a $1.0bn investment from Fairfax Financial Holdings

(leading Canadian insurance company)

– $250mn debt investment funded in February 2018 and

$250mn equity investment funded in July 2018

– Funded an additional $250mn equity investment and an

additional $250mn of debt in January 2019

Acquisition of

GCI

Completed accretive $1.6bn acquisition of remainder of Greater

China Intermodal Investments LLC (GCI) in March 2018

Considerations to selling shareholders was ~$330mn in cash

and a ~$50mn issuance of Seaspan Series D preferred shares

Transaction expanded Seaspan’s platform, diversified our

customer base, and enhanced our fleet composition

GCI was quickly and flawlessly integrated

David Sokol Bing Chen Ryan Courson

Tina Lai Torsten Pedersen

9

9

Supportive Strategic Shareholders

WashCo owns an investment portfolio of industrial companies in

rail transport, mining, and aviation

Seaspan’s founding shareholder (28% of shares outstanding)1

Actively involved with Seaspan since its founding

Dennis Washington made a $160mn Series A Preferred Equity

investment in 2009 during the recession

Fairfax (TSX:FFH) is an insurance and investment management

company with $64bn in assets2

Strategic partner with long-term investment horizon

Initial investment of $500mn ($250mn debt/$250mn equity)

Additional 25mn warrants issued with strike price of $8.05

Second investment of $500mn in January 2019 ($250mn

debt/$250mn equity)

Current Shareholder Base1

New Chairman, CEO, and CFO have accessed new capital sources and strengthened commercial position

with the acquisition of GCI

1. As of January 15, 2019

2. As of December 31, 2018

Washington Family28%

Fairfax36%

Others36%

10

10

Increasingly Diversified and Flexible Financial Profile

Selected Global Lenders

Diversified Sources of Capital1

($ millions)

1. As at December 31, 2018, adjusted for $500mn Fairfax investment in January 2019. Corporate Revolver is undrawn and committed in the amount of $150mn. Secure debt,

unsecured debt, and capital lease amounts based on principal

2. Includes 3 vessels securing debt which was repaid in March 2019, and for which collateral release documentation is pending

Significant Unencumbered Asset Pool

40+ global lenders, including North American, European,

and Asian financial institutions

37 unencumbered vessels2

TEU Class Vessel Count2

2,500 12

3,500 2

4,250 17

8,500 2

9,600 2

10,000 2

Total 37

Secured Debt$2,947

Capital Leases$648

Unsecured Debt$900

Perpetual Preferred Stock

$881

Common Equity$1,877

Corporate Revolver

$150

11

11

What Containership Lessors Offer

Liner Companies

Liner Responsibilities:

Sourcing & Aggregating Cargo

Managing Logistics

Fuel Costs

Cargo Operating Expenses

Pays Daily Charter Rate

Fleet of 112 Containerships

Operating Lessor

Lessor Responsibilities:

Vessel

Crew

Technical Operations

Design, Maintenance, Insurance

Variety of Contract Structures

Charter Rate + Term

Fixed-Rate Charter Contract

Charter Rate

Vessel & Crew

+ Services

12

12

Large, Modern Fleet Portfolio Aligned to Key Trade Routes

2,500 TEU

12 Vessels

3,500–4,250 TEU

26 Vessels

4,500–5,100 TEU

9 Vessels

8,500–9,600 TEU

12 Vessels

10,000–11,000TEU

30 Vessels

13,000–14,000 TEU

23 Vessels

Regional

Trades

Workhorses of

Global Fleet

Operating Scale and

Efficiency For Long-

Haul Trades

68% of fleet is >10,000 TEU in size with an average age of approximately four years1

1. Weighted by TEU

13

13

Global Trade Now Requires a Diversified Fleet

Feeder Class Mid-Sized VLCS / ULCS

TEU 2,500 3,500 4,250 5,100 8,500 9,600 10,000 13,100 14,000

Intra‐Asia Africa Australia—NZ Latin America Europe—NA Far East—ME Far East—NA Far East—Europe

The ideal ship size varies by route, port capacity, and charter needs

Seaspan’s Vessel Trading Activity

14

14

906

784

556 528 469 450

398 391 354 350 279 229 220 215 203 199 199 199 182 179

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World’s Largest Independent Containership Owner & Operator

Barriers

to Entry

Top 20

Containership

Lessors1

TEU (000s)

Customer Relationships

Operational Track Record and Experience

Scale of Service

Increasing Regulation

Access to Financing

Scale creates meaningful barriers to entry

Primarily a financial lessor

(i.e. limited/no vessel management services)

2

1. Alphaliner Monthly Monitor – February 2019. Chart of top 20 containership lessors includes current vessels and vessels under construction

2. Shipowning arm of Imabari Shipbuilding

update

15

15

Fully Integrated Operating Platform

VESSEL DESIGN VESSEL UPGRADES VESSEL OPERATIONS VESSEL MANAGEMENT

Enhanced cargo care practices to safely carry more

containers

Trim optimization to optimize cargo loading

and fuel efficiency

In-House Design

& Engineering Teams

In-house design and engineering teams with

strong relationships with leading shipyards

Deep experience in overseeing new vessel

construction, conversions and marine engineering

Fleet Utilization Rates Impact of Hanjin bankruptcy and drydock

of 4 Panamax vessels acquired in 4Q16

Fleet Management

Commercial Services

Provide crewing and insurance

Responsible for both ordinary and scheduled

maintenance

Disciplined cost control 300

Corporate

& Operations

4,600 People Employed Globally

>7,900 2018 Port Calls

4,300 Seafarers

Strong commercial management and long-term

charter profile drives high utilization rates

Recognized for operational excellence with

several recent awards

99% 100% 99% 99% 99% 98% 99% 99% 96% 96% 98%

FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18

update

16

16

100%

89%

77%

63%

43%

2019 2020 2021 2022 2023

Contracted Revenues Provide Reliable, Recurring Cash Flows

Cash flow stability from future contracted charter payments of ~$4.8 billion1

with an average remaining contract duration of ~4.5 Years

Percentage of Contracted Revenue by Year1

Majority of charter expirations post 2022 are

modern 10,000+ TEU vessels

1. Minimum future revenues to be received on committed time charter party agreements and interest income from direct financing leases as of December 31, 2018. Minimum future

revenues are based on 100% utilization, relate to committed time charter party agreements currently in effect, and assume no renewals or extensions. Illustrated as a percentage of

2018 revenue

update

17

17

1. Rank based on market share per Alphaliner as of February 2019

2. Number of Seaspan’s vessels and TEU of vessels chartered to each liner as of December 31, 2018

3. Credit ratings represent MOL and K-Line, respectively

Strong Counterparties Composed of Top Liners

Seaspan works with a select group of leading liner companies with a focus on long-term charters

(by % of total TEU)

Other

Charterer

World

Ranking1

No. of

Vessels²

Total

TEU²

Major

Shareholders

Credit Rating

COSCO 3 35 253,000 Government chAAA / Lianhe

Yang Ming 8 16 220,000 Government twBBB / Taiwan CR

ONE3 6 22 152,150 Widely-held (Ba1 / NR) /

(BBB / NR)

CMA CGM 4 10 71,250 Family-owned B1 / B+

MSC 2 6 63,500 Family-owned (N/A)

Hapag Lloyd 5 8 62,750 Widely-held B2 / B+

Maersk 1 7 49,250 Widely-held Baa2 / BBB

Evergreen 7 1 4,250 Widely-held NR

Other - 7 29,750 – –

Total 112 905,900

28%

24%17%

8%

7%

7%

5%3% 1%

18

18

Seaspan’s Business Model

Fully Integrated

Operating Platform

Long-Term, Fixed-

Rate Charters

Creditworthy

Customers

Comprehensive operating leasing platform

Design and acquire large, modern, fuel-efficient vessels

In-house full vessel life cycle management expertise

Long-term charters between 3 and 17 years provide

stable, predictable cash flows

Average remaining life of long-term charters of ~4.5 years

Lease vessels to the world’s leading liners

Operate customers’ flagship assets

Largest customers are partially government owned

Seaspan’s differentiated business model allows it to capitalize on challenges currently facing the containership

leasing industry and provide best-in-class service

Commoditization

Short-Term Focus

Weak Credit Profiles

Challenges to

Containership Industry Seaspan’s Model

Size & Scale World’s largest containership lessor

Leverage scale to secure major transactions and cost

savings

Fragmentation

19

19

Market Share 20191

Top 8 Liners Grew Market Share from 55% to ~85% in 5 Years1

APM‐Maersk, 18%

MSC, 15%

CMA CGM, 10%

Evergreen, 5%COSCON, 5%Hapag‐Lloyd,

4%

APL, 4%

Hanjin Shg, 4%

CSCL, 4%

MOL, 4%

OOCL, 3%

Hamburg Süd, 3%

NYK, 3%

Yang Ming, 2%

K Line, 2%

Hyundai M.M., 2%

Others, 11%

1. Alphaliner Monthly Monitor – February 2019

Concentration of Liner Market Share

Market Share 2013

Maersk+H.Sud, 20%

MSC, 16%

COSCO + OOCL, 13%

CMA CGM, 13%

Hapag+UASC, 8%

ONE, 7%

Evergreen, 6%

Yang Ming, 3%

HMM, 2%

Others, 12%

20

20

The fragmented landscape leaves significant room and benefit for consolidation

Opportunity for Lessor Consolidation

Consolidation provides greater economies of

scale and barriers to entry

Access to financing

Customer relationships

Scale of service

Larger, more diverse fleets provide significant

benefits

Size and scale allows for improved credit profiles

and reduced cost of capital

, 8%

1. Alphaliner Monthly Monitor – February 2019

Opportunity for Consolidation Containership Lessor Market Share1

Shoei Kisen, 7%

Costamare, 5%

Zodiac Maritime, 4%

BoCom Leasing, 4%

Eastern Pacific Shg (EPS), 4%

Offen, Claus Peter, 3%

Peter Döhle/Hammonia,

3% Danaos Shg, 3%

Minsheng Financial Leasing, 3% Norddeutsche

R.H. Schuldt, 2%

Other, 54%

21

21

(50%)

–

50%

100%

150%

200%

250%

Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19

2,500 TEU 3,500 TEU 4,400 TEU 9,000 TEU

Demand Growth and Supply Constraint

Driving Rate Improvement

Q1 saw stabilizing rates for smaller vessels and

increasing rates for larger vessel sizes

Support from limited number of deliveries scheduled for

2019, and continuing restraint on newbuild ordering

Forecasted global container trade growth stands at

~4% for 2019; containership fleet growth stands at ~3%

Charter Rate Improvement1

Historical Containership Asset Value1

Sparse sale and purchase activity in Q1 as

owners anticipate value improvements

During Q1 asset values stabilized, we expect

sale and purchase activity to pick up

(1) Clarksons Research – April 2019

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19

(50%)

–

50%

100%

150%

Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19

2,600 - 2,900 TEU 3,200 - 3,600 TEU 8,500 - 9,100 TEU

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19

22

22

(15%)

(10%)

(5%)

–

5%

10%

15%

20%

–

5

10

15

20

25

30

TE

U (

mlli

ons)

Fleet Capacity (TEU) Throughput Growth

Capacity Growth

Broad Based Global Seaborne Trade Growth

(1) Alphaliner Monthly Monitor – April 2019; global port throughput includes empty container and transshipment cargo

(2) Clarksons Research – Container Intelligence Quarterly Q1 2019

Broad-based growth across regions; port infrastructure

supporting trade growth in developing economies

2019 forecasted growth has remained robust despite trade

uncertainty

Growth outlook remains robust in developing markets, and

positive in OECD regions

2019 Growth Rates by Region2

Improving supply / demand balance supporting charter

rates

Trade growth is expected to exceed fleet growth in

2019 and 2020

Fleet growth artificially reduced in 2019 and 2020 due

to scrubber retrofits

Annual Capacity and Throughput Growth1

(15%)

(10%)

(5%)

–

5%

10%

15%

20%

–

5

10

15

20

25

30

TE

U (

mlli

ons)

Fleet Capacity (TEU) Throughput Growth

Capacity Growth

2.2% 2.8%0.9%

4.2%5.2%

10.5%

4.1%

6.4%

3.5%5.2% 5.0%

Tra

nspa

cific

FE

-Euro

pe

Oth

er

ME

/IS

C-A

sia

ME

/IS

C-E

uro

pe

ME

/IS

C-N

.Am

La

tin

Am

erica

Afr

ica

Ocean

ia

Intr

a-A

sia

Oth

er

Mainlane East-West Non-Mainlane East-West

North-South Intra-Regional

23

23

Idle Fleet Continues to Decline (% TEU)1,2

Orderbook at Historically Low Levels1,2

Industry supply rationalization and demand improvement

driving idle fleet reduction and supporting time charter rate

improvement

Idle containership fleet of vessels 2.1% of the global fleet2

(primarily < 3,000 TEU); proportion of idle tonnage owned

by lessors among the lowest since 2012

2018 ended with lowest scrapping values since 2011

Scrapping increased in early 2019, with the average age

declining and average TEU size increasing

Historical Demolition Volumes2

Improvement in Industry’s Ability to

Manage Supply

(1) Clarksons Research – April 2019

(2) Alphaliner Monthly Monitor – April 2019

Increased discipline on the part of owners and capital

providers continues to temper supply growth

Orderbook-to-fleet ratio currently at 11.7%2

0%

25%

50%

75%

1999 2001 2003 2005 2007 2009 2011 2013 2015 2017 2019

11.7%

18

22

26

30

0

200

400

600

2012 2013 2014 2015 2016 2017 2018 2019 YTD

Avera

ge A

ge (y

rs)

TE

U (

000's

)

TEU Scrapped Other Deletions Average Age (Scrapped Units)

2.1%

0%

3%

6%

9%

12%

0

450

900

1,350

1,800

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Idle

%

TE

U (

000's

)

Total Idle TEU Idle Fleet as % of Total Fleet

24

24

Strong Tailwinds For Those Well-Positioned

Focus on Capital Allocation

We are focused on allocating capital selectively into opportunities that improve the long-term value of the

business, and have strong risk-adjusted returns on capital

Seaspan Well-Positioned for the Future

We are strengthening our balance sheet and cash flows to become a platform for growth and

consolidation in the containership industry

Other Capital Allocation Opportunities

Synergistic opportunities in adjacent businesses (both horizontal and vertical)

We will assess opportunities as they arise based on a prudent approach to capital allocation and risk-

adjusted returns

Improving Industry Dynamics

Robust demand and improving supply fundamentals will continue to support charter rate improvement

25

25

Our Five Key Priorities

1

Operational Excellence

Set standard for best-in-class service

Optimize cost structure through scale advantage

Customer Partnerships

Provide value-added services

Best-in-class solution provider to customer needs

Financial Strength and Stability

Maintain financial discipline and enhance company credit quality

Maximize cash flows via full life-cycle management

Pursuit of Growth Opportunities

Newbuilds, second-hand vessels, and assets/portfolios

Asset and business acquisitions in the shipping industry and beyond

Capital Allocation

Strengthen balance sheet and liquidity

Reinvest capital into opportunities with strong risk-adjusted returns

2

3

4

5

26

26

APPENDIX

27

27

$83

$119 $133 $134

$344

1Q18 2Q18 3Q18 4Q18 1Q19

Quarterly Performance

Cash Flow from Operations

Revenue

(US$ Millions)

Utilization Rate

Operating Earnings

(US$ Millions) (US$ Millions)

$225

$282 $295 $295 $285

1Q18 2Q18 3Q18 4Q18 1Q19

96.8%

98.6% 98.4% 97.3%

98.1%

1Q18 2Q18 3Q18 4Q18 1Q19

$70

$113

$142 $149

$123

1Q18 2Q18 3Q18 4Q18 1Q19

Includes $227mn

charter modification

payment

28

28

$351

$7

$303

$470

$731

2015 2016 2017 2018 LTM

Annual Performance

Cash Flow from Operations1

Revenue1

(US$ Millions)

Utilization Rate1

Operating Earnings1

(US$ Millions) (US$ Millions)

$819 $878 $831

$1,096 $1,157

2015 2016 2017 2018 LTM

98.5%

96.0% 95.7%

97.8% 98.1%

2015 2016 2017 2018 LTM

$336 $311 $323

$484 $527

2015 2016 2017 2018 LTM

Includes $227mn

charter modification

payment

$285mn

impairment

charge2

(1) LTM based on 12 months ended March 31, 2019

(2) $285mn vessel impairment charge incurred in 2016

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Senior Leadership Team

Appointed CEO of Seaspan in January 2018

25 years of executive experience in building multiple businesses across industries,

including finance and asset leasing businesses, in US, Europe and Asia

Previously CEO of BNP Paribas (China) Ltd.

Bing Chen

President and

Chief Executive Officer

Ryan Courson

Chief Financial Officer

Appointed CFO of Seaspan in May 2018

Former Senior Vice President of Corporate Development

Previous experience at Falcon Edge Capital, Teton Capital and Berkshire Hathaway

David Sokol

Chairman

Appointed Director of Seaspan in April 2017 and Chairman in July 2017

Currently serves as a director of The Washington Companies

Over 38-year business career, founded three companies, took three companies

public and sold MidAmerican Energy Holdings Co. to Berkshire Hathaway in 2000

Peter Curtis

Executive VP and Chief

Commercial &

Technical Officer

Appointed Executive Vice President in July 2017 and Chief Commercial and Technical

Officer in March 2018

30+ years of experience in shipbuilding, fleet management, engineering, naval design,

and operations

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Key Industry Terms Defined

Industry Players

Companies that transport goods through regular

transit routes on fixed schedules. Container shipping

liners use large containerships to transport goods

from one location to another.

Vessels Measurements

Ship owners who lease their assets to liners,

providing the latter with an attractive alternative to

full ownership of their operating fleet.

A third party that sources and consolidates cargoes

from various beneficial cargo owners and negotiates

with liners to arrange the shipment. Freight

forwarders can also arrange the crucial connection

services and formalities on behalf of a shipper.

Beneficial Cargo

Owners (BCO)

Owner of the goods, who takes full control of their

cargo at point of entry in the country of importation.

Small ships that often distribute cargo between large

hub ports and smaller regional ones.

These ships were the standard in container shipping

for many years, until more recent advances in

shipbuilding provided the means to maximize

economies of scale.

Acronym for “very large container ships.” A segment

which entered the market in 2006,

and have a capacity of 8-14K TEU.

ULCS

Acronym for “ultra large container ships.” The most

recent player to enter the market, with a capacity of

more than 14K TEU. These ships can only call the

largest and deepest ports in the world.

Acronym for “twenty-foot-equivalent” unit. This is the

unit used to measure the capacity of containerships

and terminals. The average long cargo box you see

measures 2 TEU.

Price lessors charge to lease their ships.

The actual box rates Liners charge the end customer

of the goods.

CO2 Emissions

The carbon dioxide emissions produced when using

fuel to drive an engine. The more fuel-efficient or

“green” a ship is, the lower its CO2 emissions will be.

Liners Feeder Class TEU

Charter Rates Charter Providers /

Owners

Freight Rates

Mid-Sized

VLCS Freight Forwarders