Energy Transition Partner. Created and produced by

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1 Energy Transition Partner Diamond Sponsor Supported by Created and produced by

2 Energy Transition Partner Diamond Sponsor Supported by Created and produced by

3 CREATING NEW HORIZONS IN OFFSHORE ENERGY A NEW DAWN FOR OFFSHORE WIND MARCEL VAN BERGEN OWC - AMSTERDAM RAI 22 OCTOBER

4 INDEX 1 INTRODUCTION 2 OFFSHORE ENERGY 3 DUTCH OFFSHORE WIND INDUSTRY 4 INVOLVEMENT IN OFFSHORE WIND 5 DEVELOPMENTS IN OFFSHORE WIND 4

5 COMPANY OVERVIEW 5

6 COMPANY OVERVIEW Royal Boskalis Westminster Established in the Netherlands as dredging company in 1910 Leading global dredging, marine & offshore services provider 10,700 employees - more than 900 vessels Revenue 2017: 2.3 billion Listed at the NYSE Euronext, ticker BOKA.AS market cap 4.19 billion* * 31 December

7 GLOBAL PRESENCE ACTIVE IN 90 COUNTRIES AND 6 CONTINENTS 7

8 THREE DIVISIONS DREDGING & INLAND INFRA Construction & maintenance of ports and waterways Land reclamation Coastal defence Civil works for roads, bridges and tunnels OFFSHORE ENERGY Marine Installation Seabed Intervention Marine Transport & Services Subsea Marine Survey TOWAGE & SALVAGE Harbor Towage Terminal Services Marine Salvage 8

9 INDEX 1 INTRODUCTION 2 OFFSHORE ENERGY 3 DUTCH OFFSHORE WIND INDUSTRY 4 INVOLVEMENT IN OFFSHORE WIND 5 DEVELOPMENTS IN OFFSHORE WIND 9

10 OUR HISTORY IN OFFSHORE ENERGY

11 VERSATILE OFFSHORE FLEET 19 Semi-sub heavy transport vessels 16 Anchor handling tugs / supply vessels 3 Multi purpose / cable lay vessels 5 Ocean towage tugs 2 Fall pipe vessels 3 Heavy lift vessels and 7 Floating sheerleg cranes 5 Diving support vessels 15 Semi-submersible barges (ocean going) 11

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13 RECENTLY ACQUIRED: ATLANTIS & DAVINCI Identical (sister) vessels DP-2 Diving Support Vessel 70T/140T AHC Offshore Crane 18 Man Twin bell SAT System (300 msw) 2x SPHL 18 Man Double Air/Nitrox diving spread Deck Area 1,100 cubic meters Accommodation for 120 people Helideck In house ROV & survey systems onboard 13

14 GARDLINE ACQUISITION IN Q3 17 Leading marine geophysical surveys, offshore geotechnical services and environmental surveys in Northwest Europe Exposure to the renewables market and early cyclical O&G market Operates 15 survey vessels and 25 smaller vessels 14

15 INDEX 1 INTRODUCTION 2 OFFSHORE ENERGY 3 DUTCH OFFSHORE WIND INDUSTRY 4 INVOLVEMENT IN OFFSHORE WIND 5 DEVELOPMENTS IN OFFSHORE WIND 15

16 DUTCH OFFSHORE WIND INDUSTRY STRONG OFFSHORE / MARINE INDUSTRY Shipbuilding and dredging emerged from our delta location Industry boost by large storm barrier projects (70 s and 80 s) The Dutch were a relatively early player in offshore wind RECENT DEVELOPMENTS The Dutch government s approach in planning for new projects has been very successful and is providing the industry with a more predictable pipeline The oil and gas and offshore wind sectors are merging in their approach, combining best practices of both worlds 16

17 DUTCH OFFSHORE WIND INDUSTRY WHAT DID WE LEARN OVER THE PAST YEARS Reduction of cycle time per operation Learn to work at higher sea states and wind speeds Focus on the logistical process, not installation only Develop special tools, invest in redundancy Using dedicated vessels instead of civil marine equipment EQUIPMENT OCCUPATION IS KEY! 17

18 INDEX 1 INTRODUCTION 2 OFFSHORE ENERGY 3 DUTCH OFFSHORE WIND INDUSTRY 4 INVOLVEMENT IN OFFSHORE WIND 5 DEVELOPMENTS IN OFFSHORE WIND 18

19 MARKETS OUR CLIENTS IN OFFSHORE ENERGY OFFSHORE ENERGY SERVICES Marine Installation Seabed Intervention Marine Transport & Services Subsea Marine Survey O&G Exploration O&G Production O&G Refining & Processing Renewables Civil, Port & Marine 19

20 RECENTLY EXECUTED OFFSHORE PROJECTS 1. Aasta Hansteen Integrated solutions 2. Nasr Transport & Installation 3. East Hub FPSO installation 4. Madura FPSO installation 5. Berge Helene Ocean towage 6. Espoir Subsea IRM 7. Knarr Ocean towage 8. Ichthys Logistical management 9. SHWE Jacket and float-over topside installation 10. Thien Ung Heavy lift topside installation 11. Moho Nord Integrated solutions 12. Hebron Dry transport 13. Wikinger Wind turbine foundation installation 14. Veja Mate Wind turbine foundation installation 15. DolWin 2 & 3 Integrated solutions 16. Nord Stream Gas pipelines Seabed intervention and landfall construction 17. Maersk Dabrat Subsea light construction works 18. Egina Ocean towage 19. Luchterduinen Export cable installation 20

21 WIKINGER TRANSPORT & INSTALLATION 21

22 DOLWIN 2 CONVERTER PLATFORM 22

23 ABERDEEN OFFSHORE WIND FARM Location: Scottish North Sea Fabrication Client: Vattenfall (75%) and JV AREG (25%) Period: Capacity: Scope: 92.4 MW BoP contractor for 11 suction bucket foundations (EPCI), scour protection, inter array and export cables, landfall pull-in and WTG T&I WTG installation Trenching and suction bucket jacket installation Cable installation 23

24 BORSSELE ALPHA & BETA Installation of two export cables that will connect the Borssele offshore wind farms 1,2, 3 and 4 to TenneT s onshore grid. In consortium with NKT, dredging works by Boskalis Dredging. Location: Western Scheldt estuary, the Netherlands. Year of execution: 2018 &

25 EAST ANGLIA 1 SERVICES & CONTRACTING 25

26 INDEX 1 INTRODUCTION 2 OFFSHORE ENERGY 3 DUTCH OFFSHORE WIND INDUSTRY 4 INVOLVEMENT IN OFFSHORE WIND 5 DEVELOPMENTS IN OFFSHORE WIND 26

27 NEW DEVELOPMENTS IN OFFSHORE WIND LARGER WIND TURBINES (> 10 MW) Better business cases, lower BoP costs As permits and concessions are typically awarded with a maximum capacity cap this means fewer units, cables, etc. Not all installation assets are able to handle the foundations and wind turbine components Project installation duration with the capable assets will be shorter and therefore more projects per year and/or different markets are required to have enough asset occupancy By pro-active investments, the industry has been and will be ready for the new technical challenges! 27

28 NEW DEVELOPMENTS IN OFFSHORE WIND WIND FARMS FURTHER AT SEA This is an important case for floating installation assets With larger wind turbines and increased water depths self elevating platforms (jack-up vessels) will reach their limits even earlier Foundation design will be more challenging, moving from monopiles to jackets (even though the limits have not yet been reached) and floating foundations at some point Boskalis is ready with vessels such as Bokalift 1 and developing successors to increase our capacity even further 28

29 NEW DEVELOPMENTS IN OFFSHORE WIND MULTIPLE SITE USE AND ECOLOGICAL INTEGRATION As the area occupied by windfarms increases we need to look at multiple use of the sea and share energy production with various ecological purposes and value creation We have learnt from building onshore and nearshore that it is possible to look differently at public costs and values Boskalis and other industry partners, the government, research institutes and NGO s have cooperated for example in the Building with Nature programme 29

30 NEW DEVELOPMENTS IN OFFSHORE WIND ENERGY SYSTEM INTEGRATION Increased electrification sets demands on energy distribution and storage By looking both at renewable electrical energy transport and generation as at energy that is molecularly stored we can contribute towards integrated energy generation, distribution and storage solutions Being at the offshore energy conference in Amsterdam where offshore oil and gas meets wind, this will be a development where we can combine our knowledge and strength and where we can develop the energy solutions required for the sustainable future! 30

31 CREATING NEW HORIZONS 31