wilson sons meet the management day (july 2016)

Wilson Sons Day July 2016

This information is property of Wilson Sons and can not be used or reproduced without written permission

Disclaimer

This presentation contains statements that may constitute “forward-looking statements”, based oncurrent opinions, expectations and projections about future events. Such statements are also based onassumptions and analysis made by Wilson, Sons and are subject to market conditions which arebeyond the Company’s control.

Important factors which may lead to significant differences between real results and these forward-looking statements are: national and international economic conditions; technology; financial marketconditions; uncertainties regarding results in the Company’s future operations, its plans, objectives,expectations, intentions; and other factors described in the section entitled "Risk Factors“, available inthe Company’s Prospectus, filed with the Brazilian Securities and Exchange Commission (CVM).

The Company’s operating and financial results, as presented on the following slides, were prepared inconformity with International Financial Reporting Standards (IFRS), except as otherwise expresslyindicated. An independent auditors’ review report is an integral part of the Company’s condensedconsolidated financial statements.

2

HSE Excellence

7.14

4.68

3.18

2.37*

1.80*1.53*

2009 2010 2011 2012 2013 2014 2015 2016

GROUP WS: 2010 - 2015 LOST TIME INJURY FREQUENCY RATE (LTIF)

LTIF EMPLOYEES ANDCONTRACTORS**Includes employeesand contractors since 2013.

79%

2010-2015

5

Executive Team

Executive Team – 100+ Years of Experience

1979

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

Cézar Baião

CEO Economia PUC - RJ

Sérgio Fisher

COO Engenharia Civil -

UFRJ

Arnaldo Calbucci

COO Engenharia Naval -

USP

Fernando Salek

CFO Economia PUC - RJ

WSLatasa ClubMed BHPBilliton BG Group

J.P.Morgan

Wilson Sons

Baker Hughes Lachmann Wilson Sons

Wilson SonsLachmann

7

Container Terminals

Main Brazilian PortsAlthough market contracted due to economic scenario individual ports have grown

Santos + SSO

Rio + IGI

Paranaguá

Itapoá + SFS

Itajaí + NVT

Rio Grande

Manaus

Suape + REC

Salvador

Vitória

Imbituba

Pecém + FOR

Total containers handled by port, excluding shifting (kTEU)Source: Datamar

3.686

1.086

760

679

558

685

630

428

284

284

226

42

3.774

984

776

726

602

581

554

409

287

256

177

30

Santos + SSO

Itajaí + NVT

Paranaguá

Rio Grande

Itapoá + SFS

Rio + IGI

Manaus

Suape + REC

Salvador

Pecém + FOR

Vitória

Imbituba

2014 2015

+2%

-9%

+2%

+7%

+8%

-15%

-12%

-4%

+1%

-10%

-22%

-28%

2015 North Northeast Southeast South

% of Population 8% 28% 42% 14%

% of GDP 5% 14% 55% 16%

% Volume ofContainer (TEU)

8% 11% 48% 33%

9

Brazil: -2.1%

Brazilian Container Terminal MarketLong term growth in Brazilian container movement

Total Volume of Containers vs. GDP Growth (M TEU; % real)Source: ANTAQ, IPEAData and BCB - “Boletim Focus”

2,93,5

4,25,0

5,76,2 6,6 7,0

6,16,8

7,9 8,09,0 9,3 9,1

1,3%2,7%

1,2%

5,7%3,2% 4,0%

6,1% 5,2%

-0,3%

7,5%

2,7%0,9%

2,7%0,1%

-3,8%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Container Volumes GDP Growth

Fast ContainerizationCAGR: 12.3%

Global Crisis-12.9%

Fast RecoveryCAGR: 13.8%

Continuous GrowthCAGR: 5.6%

Crisis (-2.1%)

Containers full vs empty

71%

29%

73%

27%

Full Empty

2010 2015

Navigation Type

75%

25%

Exports + Imports Cabotage

83%

16%

2010 2015

10


Tecon Rio Grande

Rio Grande do Sul

Tecon Rio Grande


Full TEUs Moved in Brazil & Rio Grande 2014 x 2015

Source: Datamar, Antaq and Wilson Sons

Brazil Tecon Rio Grande

12

� Brazilian Import volumes suffered withthe macroeconomic scenario in most ports

� Cabotage and export volumes for Rio Grande were particularly resilient

2.251.467 2.341.490

2.570.083 2.144.978

945.7631.010.724

902.036 1.058.348

2014 2015

Exports Imports Cabotage Transshipment

+17.3%

+6.9%

-16.5%

+4.0% 199.216 219.842

92.225 75.872

37.600 42.337

108.020 109.348

2014 2015


+1.2%

+12.6%

-17.7%

+10.4%

-1.7%

2.4%


Market Share Southern Region

Percentage of TEUs handled in Tecon Rio Grande and its peers (Total Region Movement: 3,085,747 TEUs in 2015) Source: Datamar and Administración Nacional de Puertos

Rio Grande

ImbitubaItajaí (Maersk)

Montevideo

Navegantes (MSC)Itapoá (Hamburg Sud)

13

26.3%

23.5%21.8%

17.3%

10.0%1.0%

Montevideo Rio Grande Navegantes

Itapoá Itajai Imbituba

� Rio Grande, one of the principal ports in the southern region of Brazil and Uruguay

Distance from Rio Grande to:

Montevideo 540km

Imbituba 700km

Itajaí 860km

Navegantes 860km

Itapoá 1,020km


Tecon Salvador

Tecon Salvador

Bahia


Full TEUs Moved in Brazil & Salvador 2014 x 2015

Source: Datamar, Antaq and Wilson Sons

Brazil Tecon Salvador

15

� Brazilian Import volumes suffered withthe macroeconomic scenario in most ports

� Export and Cabotage again particularly strong

� All full volumes grew in Tecon Salvador including imports

2.251.467 2.341.490

2.570.083 2.144.978

945.7631.010.724

902.036 1.058.348

2014 2015


+17.3%

+6.9%

-16.5%

+4.0% 89.589 96.693

56.653 56.921

49.17152.836

5.1006.341

2014 2015


+24.3%

+7.5%

+0.5%

+7.9%

-1.7%

6.1%


Tecon Salvador – Proposed Phased ExpansionEVTEA of the renewal project approved by ANTAQ

Estimated CAPEX* (R$M)

Current -

1ª fase (Civil Work) 209.5



Civil Work (Sum) 352.7

Equipment (Total) 89.0

Total 441.7 16*EVTEA proposed in 2014

Towage


Towage

14Tugboat Cygnus – April 2016

Towage Market

Operator 2016 2017 Total

WS 6 0 6

SAAM SMIT (SST) 0 2 2

CAMORIM 1 1 2

SULNORTE 0 0 0

SVITZER 0 4 4

ALIANÇA / H.SUD 0 3 3

*Considering WS market assumptions

46% 49% 48% 49%

24% 25% 26%

12%

12%

16% 14% 13% 12%

8% 8% 8% 7%6% 5% 7% 6%

2013 2014 2015 1Q16

Others

Camorim

Sulnorte

Tugbrasil

Smit

SAAM SMIT Towage (SST)

Wilson Sons

Wilson Sons Market Share in ManoeuvresSource: Wilson Sons

Tugboats Delivered Source: Wilson Sons

18

� Wilson Sons responsible for almost 50% of all harbour manoeuvres in Brazil

� The forward orderbook for Brazilian towage operators of 17 vessels in the next two years. This is 7.5% of the fleet of 225 vessels.

� 11% (25 vessels) of the entire Brazilian fleet are greater than 30 years old

Offshore Support Vessels



16

PSV Fragata – 201PSV Larus– May 2016

Deadweight: 5,000 tonnesLength: 82.25 metresWidth (Beam): 19 metresDeck Area: 920 m²Tank Capacity: 6,410 m³


Ostreiro

Offshore Support Vessels – Long Contract Profile

2016 2017 2018 2019 2020 2021 2027 2028 2029

Mandrião

Cormoran Jan/15 2 years

Gaivota Mar/16 2 years

Albatroz Jan/16 2 years

Biguá Feb/10 8+0.5 years

Pelicano Jun/10 8+0.5 years

Atoba Jun/10 8+0.5 years

Petrel Jun/10 8+0.5 years

Skua Jun/10 8+0.5 years

Fulmar Jun/10 8+0.5 years

Talha-Mar Mar/11 8+0.5 years

Torda Oct/11 8+0.5 years

Sterna Mar/12 8+8 years

Batuíra Aug/12 8+8 years

Tagaz Mar/13 8+8 years

Prion Oct/13 8+8 years

Alcatraz Nov/13 8+8 years

Zarapito Apr/14 8+8 years

Vessel Start Date Contract

Pardela

Larus

Pinguim

Jul/16 6+6 years

Nov/16 6+6 years

Foreign Flag Vessel / In Brazilian Special Registry

In Contract (Petrobras)

Contract Option

Brazilian Spot Market

Fragata Dec/15 2 years

21

Brazilian PSV Fleet Forecast

Source: Abeam

22

� Brazilian flag vessels can block foreign flag vessels if they are available and of specification sufficient.

� Foreign flag vessels may request registration in the Brazilian special register (REB) for up to 50% of the operators Brazilian tonnage.

6875

8794

101108

125

55

104

88

99106

63

35

2010 2011 2012 2013 2014 2015 May/2016

National flag

Foreign flag

Financial Highlights


Wilson Sons EBITDA by Business (Proforma): 1Q16

53.0%

25.6%

14.6%

6.9%

Towage

Container Terminals


Others

26

� Towage, Container Terminals and Offshore Support Vessels represented more than 90% of the Wilson Sons businesses first quarter EBITDA

� Diversity of businesses contributing to resilience� Synergies between businesses


CAPEX (US$ M)

Investment Cycle: more than US$ 1.0B

From 2012 Offshore Support Vessel JV CAPEX is not consolidated for IFRS. 2015 Budget using USD:BRL exchange rate 3.03

27

� Continued reduction in CAPEX after completing a significant investment cycle

Estimate only

20.235.4

26.6

59.369.6

116.3 127.5 226.6 128.7 136.9 111.269.9 90/99

52/570.2

0.815.6

39.9 23.9

33.339.2

36.3

55.549.0

15.3

47.724/27

11/12

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Wilson Sons CAPEX

Offshore Vessels JV CAPEX

126.5

185.9

262.9

149.6

93.5

42.236.2

20.4

184.2

166.7

99.2

117.6 115/127

64/70


Main Takeaways

28

� Challenging Brazilian economy;

� Wilson Sons well positioned;

- Strong historical cash flow generation underpinning a healthy balance sheet (relatively low leverage);

- Unique diversification in the sector reducing the cash flow at risk;- Very competitive average cost of debt;

� Focus on fulfilling capacity;

� Dedication to reducing costs;

� Reducing capex and increasing free cash flow.


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wilson sons meet the management day (july 2016)

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