TTS Marine ASA

Presentation 2nd Quarter 2005

August 18, 2005

Agenda

• 2nd quarter consolidated accounts

• Business segments

• New organisation

• New management

• Market outlook and forecast

• FastShip

• Market outlook for the TTS stock

• Shareholder structure

• New Board of TTS Marine ASA

TTS Summary2nd quarter 2005

• Earning per share in the 2nd quarter was 0,69 NOK.

• Continued positive development yielded results on level with the first quarter. Turnover in 2nd quarter increased by 39% compared to last year, while EBITDA increased by 113%.

• Continuing good market conditions for all our products led to a new record high level of order backlog for the sixth quarter in a row, MNOK1194 , compared to MNOK 609 a last year.

• Good results from the newly acquired companies.

• TTS-LMG Marine Cranes landed a contract worth app. MNOK 90 for delivery of heavy lift deck cranes for 6 vessels.

• As from 1 June, TTS Inc was relocated from Newport News, Virginia to Miami Florida, with a total of 5 employees. A new president has been appointed.

• A new division, Ports and Material Handling was established as of the 3rd

quarter. As of 4th quarter the company will report separately on all three divisions.

TTS Marine GroupTurnover and EBITDA, 2nd quarter 2005

254 272

183 280

0

50 000

100 000

150 000

200 000

250 000

300 000

2 Q 2005 2 Q 2004

9 027

19 246

0

5 000

10 000

15 000

20 000

2 Q 2005 2 Q 2004

Turnover EBITDAMNOK

MNOK

Profit and loss Per 2. quarter 2. quarter Year

Account

2005

2004

2005

2004

2004

Turnover

504 537 368 175 254 272 183 280 786 174

EBITDA

38 664 15 318 19 246 9 027 42 121

Operating profit

36 082 12 920 18 086 7 794 36 056

Net financial items

- 1 068 - 1 101 - 766 - 665 - 4 805

Profit before tax

35 014 11 819 17 320 7 130 31 251

Net profit 24 988 8 610 12 384 4 856 21 629

TTS Marine GroupKey figures, 30.06.04-

Balance sheet (NOK 1000) 30.06.2005 30.06.2004 2004

Fixed assets 350 611 274 895 335 373Current assets 592 429 466 935 465 029TOTAL ASSETS 943 040 741 830 800 402

Equity 321 701 227 847 260 909Long term liabilities 81 008 23 248 76 294Current liabilities 540 331 490 735 463 199TOTAL EQUITY AND LIABILITIES 943 040 741 830 800 402

Interest-bearing debt Current 79 329 63 449 39 406Long term 59 976 12 781 56 319Total 139 305 76 230 95 725Cash in hand 79 710 50 313 52 974Net interest-bearing debt (deposits) 59 595 25 917 42 751

TTS Marine GroupBalance sheet, 30.06.2005

TTS Marine GroupEBITDA last 10 quarters

246

3196 3245

70186296

903211 468

15 356

1941819 246

02000400060008000

100001200014000160001800020000

1Q 2003 3Q 2003 1Q 2004 3Q 2004 1Q 2005

TNOK

TTSMarine GroupEBITDA margin

0123456789

1Q2003

2Q2003

3Q2003

4Q2003

1Q2004

2Q2004

3Q2004

4Q2004

1Q2005

2Q2005

%

TTS Marine GroupTurnover 30.06.2005

39,2

72,6

328,7

431,5

504,5

368,2

0,0

50,0

100,0

150,0

200,0

250,0

300,0

350,0

400,0

450,0

500,0

550,0

30.06.2005 30.06.2004

Material Handling Equipment

Ships equipment

TTS Group

MNOK

TTS Marine GroupOperating profit and loss 30.06.2005

2,2

8,3

28,1

10,7

36,1

12,9

0,0

5,0

10,0

15,0

20,0

25,0

30,0

35,0

40,0

30.06.2005

MNOK

Material Handling equipmentShips equipmentTTS Group

31.03.2004

TTS Marine GroupOrder backlog 30.06. 2005

66

29

580

1128

609

1194

0

200

400

600

800

1000

1200

1400

30.06.2005 30.06.2004

Material Handling equipmentShips equipmentTTS Group

MNOK

Dry Cargo Handling had a continued high order intake with several repeats in car carriers, resulting in a record order backlog.

Order intake for Marine Cranes was at a high level for both the Norwegian and the German company, resulting in a new record level of backlog.

Material Handling has TTS Liftec’s order backlog included in its figures. The order intake for this quarter has been slow, but the prospects of new contracts are promising.

TTS Hua Hai (50%) had an order backlog at 30th June at 369 MNOK. This is not included in the graph above.

TTS Marine GroupOrder backlog 2002-2005

0

200

400

600

800

1000

1200

1400

4Q 01

2Q 02

4Q 02

2Q 03

4Q 03

2Q 04

4Q 04

2Q 05

Dry CargoCranesHandlingTotal

Order backlog

M N

OK

TTS Marine GroupTurnover last 8 years + Pr 2 Q 2005

264

370 398

621

786

505

744

326 358

0100200300400500600700800900

1997 1998 1999 2000 2001 2002 2003 2004 2Q2005

MNOK

TTS Marine GroupEBITDA last 8 years + 2Q 2005

12,0 13,5 13,7

42,238,7

6,4

21,7

-2,3

31,7

-5,0

0,0

5,0

10,0

15,0

20,0

25,0

30,0

35,0

40,0

45,0

1997 1998 1999 2000 2001 2002 2003 2004 2Q 2005

MNOK

Dry Cargo HandlingSide doors, Ro-Ro and cruise

• Operations and results for the quarter were good, as expected.

• Good order intake for the 2nd quarter with several large contracts for car carriers.

• Market conditions are still good, and pressure on production capacity remains high.

• The market for side loading systems has remained weak in the quarter, and no new contracts were entered into during the period.

• Established service station in Miami by relocating TTS Inc. to Miami.

Facts TTS Marine Inc.

President: Geoff Stokoe, sales

Total number of employees: 5

Service engineers: 3

Service offices: Miami, New Orleans, San Francisco

Main tasks: Sales and service

TTS Inc.Establishing service station in Miami, Florida

Marine CranesElectro hydraulic ship cranes

• Positive market outlook for Marine Cranes, order intake and results for 2nd quarter as expected.

• TTS-LMG landed a contract worth MNOK 90 for delivery of cranes to 6 vessels. Thus the company has been given a head start above expectations.

• Reorganisation involving the escalation of engineering capacity in China is progressing according to plan.

• The newly established joint venture company in Dalian, China is in operation.

Material HandlingShipyards, Industry and Terminals

• Poor operational results for the second quarter for TTS Handling Systems AS following a low order intake and order backlog.

• Excellent operation and results for TTS Liftec.

• Several projects and positive market outlook for TTS Liftec’s products.

• New organisation from 3rd quarter

TTS Ships Equipment GmbH Bremen, Germany

TTS Ships Equipment ASBergen, Norway

TTS Hua Hai Ships Equipment Co.Ltd.Shanghai, China

TTS Inc.Miami, USA

Marine Cranes TTS Marine ASABergen and Kristiansand

TTS Ports Equipment ABPorts and Material Handling

Gothenburg, Sweden

TTS Marine ASACorporate

Bergen, Norway

TTS Ships Equipment ABGothenburg, Sweden

Dry Cargo Handling

TTS Marine Shanghai Co Ltd.Shanghai, China.

TTS Korea Pusan, Korea.

TTS - LMG Marine Cranes GmbHLübeck, Germany

TTS Handling Systems AS Drøbak, Norway

TTS Bohai Machinery Co LtdDalian, China

TTS Liftec Oy Tampere, Finland.

TTS Marine ASA New organisation as from 3rd quarter

TTS Marine groupOrganisation/ Products

RoRo EquipmentHatch CoversSide Loading SystemCruise EquipmentYacht Equipment

Dry Cargo Handling

Cargo CranesHose Handling CranesProvision Cranes

DavitsSpecial Cranes

Marine Cranes

Yard EquipmentPort EquipmentMaterial Handling

Ports and Material Handling

TTS Marine ASA

Ports and Material Handling Employees new division

TTS Port Equipment AB 11TTS Handling Systems 18TTS Liftec Oy 21

Ports and Material Handling 50

TTS Marine ASA New managers

Gøran Johansson Div. dir. Ports and Material Handling

Stellan Bernsro Man. Dir. TTS Ships Equipment ABLennart Svensson Man. Dir. TTS Port Equipment ABRolf-Atle Tomassen Man. Dir. TTS Handling Systems ASGeoff Stokoe Man. Dir TTS Marine Inc.Li Dali Man. Dir. TTS Bohai Machinery Co.

Contracted ships1st quarter 2003, 2004 and 2005

0

100

200

300

400

500

600

700

All ships Tankers Bulker Container Others

1Q 20051Q 20041Q 2003

World contracting outlookNumber of vessels

300 gt+, June 2005

0

500

1 000

1 500

2 000

2 500

1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Num

ber o

f ves

sels

PassengerDry CargoRoRoReefersContainerBulker incl combTanker

Source: LR Fairplay

World fleet outlookTotal number

300 gt+, June 2005

0

500

1 000

1 500

2 000

2 500

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Num

ber o

f ves

sels

DeliveriesDel.forecastScrappingScrap.forecastContractingCont.forecast

Source: LR Fairplay

FastShipStatus

• FastShip Inc. has cancelled the letter of intent with IZAR and entered into a letter of intent with another European shipbuilding group regarding building of the vessels in question.

• Parallel processes are ongoing relating to financing , contracts for ship-building and market cooperation. The reason for this being that RBS has required disclosure of technical risk and market risk exposure in order to finance the project.

• FastShip has previously been granted MUSD 40 from the US Department of Defence for the terminal in Philadelphia. Now MUSD 5 is expected to be released for detailed engineering of the terminal.

TTS Stock Performance12. august 2004 – 11. august 2005

TTS Stock Overview1 January 2005 – 10 August 2005

01.01.2005 10.08.2005

Number of shareholders

769 858

01.01.2005 – 10.08.2005 Average trading/day

Number of trades 7 276 48

Value (NOK ’000) 495 073 3 257

Number of shares (1000)

Average value

TTS Market Value01. January 2004 01. January 200510. August 2005

20 225

24,48

MNOK 144 MNOK 305MNOK 615

133

MP Pensjon 7,59%Odin Maritim 6,68%Skagen Vekst 5,49%JPMorgan Chase Bank 5,09%Delphi Norge 4,43%Firstnordic 3,79%Starefossen Forvaltning 3,35%Gambak 3,30%Svenska Handelsbanken 2,91%Orkla Finans 1,92%

Total 44,55%

TTS Marine ASA10 largest shareholders per 10 August 2005

TTS Marine ASA New Board of Directors

Name Status PositionEinar Pedersen Reelcted Shareholder/Board Chairman of FastShip, Inc.Nils O. Aardal Reelected Direkctor, Jo Tankers ASAnne Breive New Director, Corp. Controlling, Norske Skog ASAHilde P. Aa. Krøgenes New Marketing Manager, Norcontrol IT ASJohn M. Lunde New Senior Vice President, Scana Industrier ASA

Emplyee representatives:Mona L. Tellnes Halvorsen TTS Handling Systems ASOddmund Hatletun TTS Marine ASA

Einar Pedersen is chairman of the board. The board has also elected compensation committee(Pedersen, Krøgenes,Lunde) and auditing committee (Aardal, Breive, Halvorsen).