#1JEFFLY TRETAR APR ATLAS ENERGY 6735 Investor Presentation COSCA DEVELOPMENT APR ENERGY March 2021 tex#2Notice on Forward Looking Statements This presentation contains forward-looking statements (as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended) concerning our operations, cash flows, and financial position, including, in particular, with respect to our 2021 financial guidance and our vessels under construction and anticipated cash flows therefrom. 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 our 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 we believe are reasonable based upon available information, they are subject to risks and uncertainties. These risks and uncertainties include, but are not limited to: our future operating and financial results; our growth prospects and ability to expand our business; our business strategy and capital allocation plans, and other plans and objectives for future operations; our primary sources of funds for our short, medium and long-term liquidity needs; potential acquisitions, financing arrangements and other investments, and our benefits from such transactions; our financial condition and liquidity, including our ability to borrow and repay funds under our credit facilities, to refinance our existing facilities and notes, and to obtain additional financing in the future to fund capital expenditures, acquisitions and other general corporate activities; conditions in the public equity market and the price of our shares; changes in governmental rules and regulations or actions taken by regulatory authorities, and the effect of governmental regulations on our business; the financial condition of our customers, lenders and other counterparties and their ability to perform their obligations under their agreements with us; our continued ability to meet specified restrictive covenants in our financing and lease arrangements, our notes and our preferred shares; any economic downturn in the global financial markets and potential negative effects of any recurrence of such disruptions on the demand for the services of our containership or our mobile power solutions, or on our customers' ability to charter our vessels, lease our power generation assets and pay for our services; the length and severity of the novel coronavirus (COVID-19) pandemic, including as a result of new variants of the virus, and its impact on our business; a major customer experiencing financial distress, due to the COVID-19 pandemic, bankruptcy or otherwise; global economic and market conditions and shipping industry trends, including charter rates and other factors affecting supply and demand for our containerships and power generation solutions; disruptions in global credit and financial markets as the result of the COVID-19 pandemic or otherwise; our expectations as to impairments of our vessels and power generation assets, including the timing and amount of potential impairments; the future valuation of our vessels, power generation assets and goodwill; future time charters and vessel deliveries, including future long-term charters for certain existing vessels; estimated future capital expenditures needed to preserve the operating capacity of our containership fleet and comply with regulatory standards, as well as our expectations regarding future dry-docking and operating expenses, including ship operating expense and expenses related to performance under our contracts for the supply of power generation capacity, and general and administrative expenses; availability of crew, number of off-hire days and dry-docking requirements; our continued ability to maintain, enter into or renew primarily long-term, fixed-rate time charters for our vessels and leases of our power generation assets; the potential for early termination of long-term time charters and our potential inability to enter into, renew or replace them; our ability to leverage to our advantage our relationships and reputation in the containership industry; changes in technology, prices, industry standards, environmental regulation and other factors which could affect Atlas' competitive position, revenues and asset values; disruptions and security threats to our technology systems; taxation of our company and of distributions to our shareholders; our exemption from tax on U.S. source international transportation income; the continued availability of services, equipment and software from subcontractors or third-party suppliers required to provide our power generation solutions; our ability to protect our intellectual property and defend against possible third party infringement claims relating to our power generation solutions; potential liability from future litigation; and other factors detailed from time to time in our 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 our 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 our Annual Report for the year ended December 31, 2019 on Form 20-F filed with the Securities and Exchange Commission (the "SEC") on April 13, 2020 and our Report on Form 6-K for the quarter ended September 30, 2020 furnished to the SEC on November 10, 2020. We do not intend to revise any forward-looking statements in order to reflect any change in our expectations or events or circumstances that may subsequently arise. We expressly disclaims any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in our views or expectations, or otherwise. You should carefully review and consider the various disclosures included in our Annual Report and other filings made with the SEC, that attempt to advise interested parties of the risks and factors that may affect our business, prospects and results of operations. Cautionary Statement Regarding Use of Non-GAAP Accounting Measures This presentation includes various financial measures that are non-GAAP financial measures as defined under the rules of the SEC. These non-GAAP financial measures, which include Funds from Operations (or FFO), FFO Per Share, Diluted (or FFO Per Share), Adjusted EBITDA, Net Debt and Total Borrowings, are intended to provide additional information and should not be considered substitutes for measures of performance prepared in accordance with GAAP. FFO and FFO Per Share represent net earnings adjusted for depreciation and amortization, gains/losses on sale, unrealized change in fair value of derivative instruments, loss on foreign currency repatriation, change in contingent consideration asset, preferred share dividends accumulated, income related to modification of time charters, impairment and certain other items that the Company believes are not representative of its operating performance. FFO and FFO Per Share are useful performance measures because they exclude those items that the Company believes are not representative of its performance. Please refer to the Funds From Operation section of this presentation for a reconciliation of these non-GAAP financial measures to net earnings. FFO and FFO Per Share are not defined by GAAP and should not be considered as an alternative to net earnings, earnings per share or any other indicator of the Company's performance required to be reported by GAAP. In addition, this measure may not be comparable to similar measures presented by other companies. Adjusted EBITDA represents net income before interest, taxes, depreciation and amortization, impairments, write-down and gains/losses on sale, gains/losses on derivative instruments, loss on foreign currency repatriation and change in contingent consideration asset. Adjusted EBITDA provides useful information to investors in assessing the Company's results of operations. The Company believes that this measure is useful in assessing performance and highlighting trends on an overall basis. The Company also believes that this performance measure can be useful in comparing its results with those of other companies, even though other companies may not calculate this measure in the same way. The GAAP measure most directly comparable to Adjusted EBITDA is net earnings. Adjusted EBITDA is not defined by GAAP and should not be considered as an alternative to net earnings or any other indicator of the Company's performance required to be reported by GAAP. The Company is unable to provide reconciliations of forward-looking Adjusted EBITDA and its components to their most directly comparable GAAP financial measures on a forward-looking basis without unreasonable effort because items that impact those GAAP financial measures are out of the Company's control and/or cannot be reasonably predicted. These items include, but are not limited to, income tax expense, gains/losses on sale, loss on derivative instruments, change in contingent consideration asset and loss on foreign currency repatriation. Such information may have a significant, and potentially unpredictable, impact on our future financial results. Net Debt represents total borrowings before debt discount and fair value adjustments, net of cash and cash equivalents and restricted cash. Total Borrowings represents long-term debt and other financing arrangements, excluding deferred financing fees. Net Debt and Total Borrowings provide useful information to investors in assessing the Company's leverage. The Company believes this measure is useful in assessing the Company's ability to settle contracted debt payments. The Company also believes that this leverage measurement can be useful in comparing its position with those of other companies, even though other companies may not calculate this measure in the same way. The GAAP measure most directly comparable to Net Debt and Total Borrowings is the total of long-term debt and other financing arrangements. Net debt and Total Borrowings are not defined by GAAP and should not be considered as an alternative to long-term debt and other financing arrangements or any other indicator of the Company's financial position required to be reported by GAAP. A 2#3Introduction to Atlas Best in class owner operator of leading platforms within Maritime & Energy Solutions Seaspan ATLAS Global Asset Manager Leading Maritime Platform NYSE: ATCO Market cap of $3.5bn¹ APR Global Energy Platform APR ENERGYⓇ ~14% of Adjusted EBITDA² ~86% of Adjusted EBITDA² ㅁ World's largest containership lessor ☐ Mobile power solution lessor Fleet of 160 vessels³ (~10% market share)4 ☐ ~850MW of mobile gas turbines7 ☐ ~$10.7 billion gross contracted cash flow 3,5,6 ☐ ~526MW of gas & diesel gensets ~$0.3 billion gross contracted cash flow8 =2 1. 2. Based on market closing price of $14.38 as of March 8, 2021, with 246.8mn shares outstanding Based on segmented contribution to Adjusted EBITDA for twelve months ended December 31, 2020 6. 3. As of December 31, 2020; pro-forma for newbuild containership orders for 31 vessels announced on December 7, 2020, February 8 and 12, and March 4 and 8, 2021, and 2 secondhand vessel acquisitions announced March 2, 2021 Alphaliner Monthly Monitor February 2021 45 4. 5. Gross contracted cash flow includes $3.9 billion of lease payments receivable from operating 7. 8. leases, $0.9 billion of minimum lease receivable from finance leases, as well as $5.9 billion lease payments to be received from undelivered vessels Includes cash flows expected from signed charter agreements on undelivered vessels, excluding purchase options, extension options, higher charter rate options and profit-sharing components As of December 31, 2020 Gross contracted cash flow includes $0.3 billion of lease payments receivable from operating leases A 3#4Atlas Highlights Foundation for through-cycle value creation through disciplined capital allocation APR ENERGY ✓ >1.5mn TEU 9 Power Plants 160 Vessels¹ 0.9 GW4 Industry leading operating platforms ~$11.0 Billion Gross Contracted Cash Flow 1,2,3 Resilient and differentiated business model $622mn 1.2x FFO (TTM) 4,5 Net Debt/Equity 4,5,6 $771mn BBB- Liquidity 4,7 Senior Secured Rating8 FAIRFAX Well capitalized for growth The Washington Companies FINANCIAL HOLDINGS LIMITED Supportive long-term capital partners 40%4 24%4 A As of December 31, 2020; pro-forma for newbuild containership orders for 31 vessels announced on December 7, 2020, February 8 and 12, and March 4 and 8, 2021, and 2 secondhand vessel acquisitions announced March 2, 2021 Gross contracted cash flow includes $4.2 billion of lease payments receivable from operating leases, $0.9 billion of minimum lease receivable from finance leases, as well as $5.9 billion lease payments to be received from undelivered vessels Includes cash flows expected from signed charter agreements on undelivered vessels, excluding purchase options, extension options, higher charter rate options and profit-sharing components 12 1. 2. 3. 4. As at December 31, 2020. 5. See Q4 2020 earnings release for non-GAAP reconciliations to nearest GAAP measure 6. 7. 8. Kroll Bond Rating Agency (KBRA) rated Seaspan's Portfolio Financing Program BBB- and provided Corporate Rating of BB Net debt represents Total Borrowings less cash and cash equivalents and restricted cash, excluding debt discount. Total Borrowings represents long-term debt and other financing arrangements before deferred financing fees Total cash & cash equivalents plus total available undrawn committed credit facilities 4#5Resilient and Differentiated Business Model Consistent performance is solid evidence of unique model What sets Atlas apart competitively is our: 800円= 0000 A Predictable cash flows of increasing quality Asset quality is increasing Platform and scale Financial strength Investors have greater long-term visibility and dependability Seaspan fleet growth adding newbuild and young more sought-after vessels Building the APR platform utilizing the "Seaspan roadmap" Deliver unmatched, industry best-in-class services Maximize value creation for customers across the full supply chain Deliver creative solutions in partnership with our customers Focus on ESG principles Innovate positive change within our industry and enrich our business model LO 5#61. 2. Key Developments to Solidify Leading Market Position Since 2017 A New Board & Senior Management Team ☐ David Sokol, Chairman (previously with Berkshire Hathaway) ☐ Bing Chen, President and CEO (previously with BNP Paribas) ☐ Torsten Pedersen, COO (previously with Maersk Group) David Sokol ☐ Graham Talbot, CFO (previously with Abu Dhabi Power Corp) July 2017 Bing Chen January 2018 Fairfax Partnership ☐ $1.1bn investment from Fairfax, a leading global investment and insurance company Torsten Pedersen Graham Talbot November 2018 January 2021 Accretive Fleet Acquisitions Achieved Investment Grade Senior Secured Rating $600mn 5.5% 7-year debentures (maturing 2025, 2026, 2027) $500mn equity (2018 & 2019) ☐ $1.6bn acquisition of Greater China Intermodal Investments (GCI) in Mar-18 18 high-quality containerships with $1.3 billion in contracted revenues □ Acquisition of 48 additional high-quality containerships since end of 2020 and contributed to a total of $7.0 billion gross contracted cash flow 1,2 31 newbuilds in the 12,000, 15,000 and 24,000 TEU segments Newbuilds expected to be delivered between Q4 2021 to Q1 2024 17 secondhand large tonnage vessels (>9000 TEU) 15 secondhand vessels delivered throughout late 2019/2020 and two expected to be delivered in Q2 2021 ☐ Executed portfolio financing program to simplify corporate structure, reduced average interest cost and provides attractive fleet financing ם In August 2020, Seaspan received a BBB- senior secured rating for its portfolio financing program and a BB corporate rating, reflecting Seaspan's leadership position in the containership sector FAIRFAX FINANCIAL HOLDINGS LIMITED GCI Group BBB- Senior Secured Rating BB Corporate Rating Gross contracted cash flow includes $1.0 billion lease payments receivable from operating leases and $0.1 minimum lease receivable from finance leases related to vessels acquired and delivered since the end of 2019, as well as $5.9 billion lease payments to be received from undelivered vessels. Includes cash flows expected from signed charter agreements on undelivered vessels, excluding purchase options, extension options, higher charter rate options and profit-sharing components#7Atlas Timeline Resilient business model well positioned for growth opportunities $10.0 $9.0 $8.0 $7.0 $6.0 $5.0 $4.0 $3.0 $2.0 Total Assets (bn) $1.0 $1.0 $0.8 $0.6 Cash Flow from Operations (bn) $0.4 $- $0.0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 ■Total Assets Cash Flow from Operations $0.2 Strengthening Balance Sheet & Operational Platform David Sokol joins Initial Fairfax investment Board of Directors Deleveraging from $227mn charter modification funds 2005 2017 2018 2019 Bing Chen appointed CEO Seaspan announces acquisition of GCI Closing of $1.0bn portfolio financing program 12 1. 2. 3. ATLAS CORP Announces Atlas and $750mn APR acquisition Strategic Growth & Diversification of Capital Sources Seaspan achieves investment grade BBB- rating¹ 2020 Announces increase in portfolio financing program to $1.7bn Issues exchangeable senior notes 2021 Seaspan closes first sustainability-linked loan 2019 & 2020: added 15 vessels to fleet with $1.1bn in gross contracted cash flows² Kroll Bond Rating Agency (KBRA) rated Seaspan's Portfolio Financing Program BBB- and provided Seaspan Corporate Rating of BB Gross contracted cash flow includes $1.0 billion lease payments receivable from operating leases and $0.1 minimum lease receivable from finance leases related to vessels acquired and delivered since the end of 2019 Includes $3.5 billion of lease payments receivable from operating leases and $1.2 billion of minimum lease receivable from financing leases from undelivered vessels Issues sustainability linked bond 2020 & 2021: announced 31 newbuild orders and 2 secondhanded vessel acquisitions with $5.9bn in gross contracted cash flows³ 7 A#83-Year Financial Performance Review The Atlas foundation is strong, and the global multi-platform model is evidenced by sector- leading businesses driving strong financial results Revenue ($ millions) $1,421 $1,132 $1,096 2018 CAGR 19.6%³ = 2019 FFO* ($ millions) $396 CAGR 35.0%³ 2018 $375 2019 Adjusted EBITDA* ($ millions) $719 $714 2020 2018 CAGR = 23.0%³ $924 2019 2020 Cash Flow from Operations¹ ($ millions) CAGR = 21.1%³ $622 $525 2020 See Q4 2020 earnings release for non-GAAP reconciliations to nearest GAAP measure 1. Historical periods reclassified to match current presentation 2. 3. Excludes cash received/income related to modification of time charters of $227 million, received in 2019 Compound annual growth rate of each respective metric from 2017 to 2020 $556 $694 2018 20192 2020 8 A#9Total Shareholder Return¹ Delivering Consistent Value -Atlas Corp. Russell 2000 S&P 400 Mid-Cap Industrials NYSE Composite Danaos Costamare GSL 150% 100% 50% 0% -50% سهر -100% Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Source: Bloomberg 1. 2. As of December 31, 2020 Total return represents rate of return over time horizon 1/1/2018 - 12/31/2020 including dividends received and reinvested into each security at market price at time of distribution 9 90%2 A#10Meaningful Enhancement of Financial Position Strong leverage and liquidity supported by ~$11.0bn¹ in gross contracted cash flow 31-Mar-17 31-Dec-20 Cash² Liquidity Improvements Revolver³ $296mn $304mn + $8mn $160mn $500mn + $340mn Unencumbered Assets4 4 vessels / $22mn 31 vessels / $1.1bn + $1,078mn Balance Sheet Improvements Debt / Assets5 0.6x 0.5x -0.1x Net Debt/Equity5 1.7x 1.2x 1 − 0.5x Revenue (LTM)6 $864mn $1,421mn + $557mn Financial Performance Cash Flow from Operations (LTM)6 $310mn $694mn + $384mn Seaspan Asset Utilization 91.6% 99.6% + 8.0% Operational Improvements APR Asset Utilization 30.0% 61.8% + 31.8% 1. As of December 31, 2020; pro-forma for newbuild containership orders for 31 vessels announced on December 7, 2020, February 8 and 12, and March 4 and 8, 2021, and 2 secondhand vessel acquisitions announced March 2, 2021. Gross contracted cash flow includes $4.2 billion of lease payments receivable from operating leases, $0.9 billion of minimum lease receivable from finance leases, as well as $5.9 billion lease payments to be received from undelivered vessels. Includes cash flows expected from signed charter agreements on undelivered vessels, excluding purchase options, extension options, higher charter rate options and profit-sharing components 2. Includes cash and cash equivalents 3. Total committed revolving credit facility capacity 4. Values using net book value as of period specified (March 31, 2017 and December 31, 2020, respectively) 5. Refer to slide 2 for definitions of non-GAAP metrics 6. As of December 31, 2020 A 10#11Strong Financial Position Diversified Sources of Capital ($ millions) Common Equity,² $3,549 $771mn Highlights Liquidity5,6 Credit Facilities, $2,867 $622mn Funds from Operations (TTM) 5,7 BBB- Senior Secured Rating8 Preferred Equity, $833 Unsecured Notes, $80 Capital Leases,³ $880 Fairfax Notes, $600 Exchangeable Notes, $201 Capitalization5 ($ millions) ~$11.0bn Gross Contracted Cash Flow⁹ Global Syndicate of Supportive Lenders 2. 交通銀行 招商银行 BANK OF COMMUNICATIONS CHINAMERCHANTS BANK cíti SMBC SUMITOMO MITSUT BANKING CORPORATION Dec-20 Coupon/Dividend/Interest¹ Common Equity² 3,549 3.5% Preferred Equity 833 8.1% CREDIT SUISSE Total Equity $4,382 BMOM ID Fairfax Notes 600 5.5% Unsecured Notes 80 7.1% Commonwealth Bank 兆豐國際商業銀行 Exchangeable Notes 201 3.8% ABN AMRO ING Bank of America Credit Facilities 2,867 2.3% Capital Leases³ 國泰世華銀行 Cathay United Bank 880 3.1% Total Debt Less: Cash $4,628 BNP PARIBAS (343) Total Net Debt Total Capitalization $4,285 $9,010 呂 中国工商银行 INDUSTRIAL AND COMMERCIAL BANK OF CHINA ..DekaBank J.P.Morgan DNB WELLS FARGO Q THE EXPORT-IMPORT BANK OF CHINA 1. Dividend on common equity based on $0.50 annual dividend to closing price of $14.38 as of March 8, 2021; dividend on preferred shares represents weighted average stated dividend rate; interest rate on debt represents weighted average all-in interest rate during the year 2. Based on market closing prices of $14.38 as of March 8, 2021, with 246.8mn shares outstanding 3. Capital leases are disclosed as "Other Financing Arrangements" within Atlas' consolidated financials 4. Includes cash and cash equivalents and restricted cash 5. As of December 31, 2020 6. Total cash & cash equivalents plus total available undrawn committed revolving facilities 7. See Q4 2020 earnings release for non-GAAP reconciliations to nearest GAAP measure 8. Kroll Bond Rating Agency (KBRA) rated Seaspan's Portfolio Financing Program BBB- and provided Corporate Rating of BB 9. As of December 31, 2020; pro-forma for newbuild containership orders for 31 vessels announced on December 7, 2020, February 8 and 12, and March 4 and 8, 2021, and 2 secondhand vessel acquisitions announced March 2, 2021. Gross contracted cash flow includes $4.2 billion of lease payments receivable from operating leases, $0.9 billion of minimum lease receivable from finance leases, as well as $5.9 billion lease payments to be received from undelivered vessels. Includes cash flows expected from signed charter agreements on undelivered vessels, excluding purchase options, extension options, higher charter rate options and profit-sharing components A 11#12Seaspan Overview seaspan#13Seaspan at a Glance Integrated with Global Trade Modern Fleet #1 Independent Containership Owner/Operator 骨 seaspan Strong Financial Profile $1,325mn - $1,355mn 2021 Revenue² $839mn - $874mn 2021 Adjusted EBITDA² Long-Term Charters with 7 of 8 Leading Global Liners 160 Vessels¹ >1.5mn TEU $10.7bn Gross Contracted Cash Flow 1,3,4 $ 5,200 employees 98% Average Utilization Since IPO6 ~98% Utilization during COVID (4,900 Seafarers / 300 Corporate) ~6.5 years Average Remaining Charter Period 1,5 1. 123 ~5.3 years Average Age 1,5 As of December 31, 2020; pro-forma for newbuild containership orders for 31 vessels announced on December 7, 2020, February 8 and 12, and March 4 and 8, 2021, and 2 secondhand vessel acquisitions announced March 2, 2021 Guidance provided on March 8, 2021 Gross contracted cash flow includes $3.9 billion of lease payments receivable from operating leases, $0.9 billion of minimum lease receivable from finance leases, as well as $5.9 billion lease payments to be received from undelivered vessels Includes cash flows expected from signed charter agreements on undelivered vessels, excluding purchase options, extension options, higher charter rate options and profit-sharing components Weighted by TEU 3. 4. 5. 6. Average fleet utilization from 4Q05 to 4Q20 7. Average utilization in 2020 13#14Container Shipping: Infrastructure for Global Trade ㅁ ☐ ☐ ☐ Containerships are the most efficient form of transportation Dominates transportation of goods: ~90% of trade is seaborne Rapid growth driven by globalization: doubled between 2000 and 2019 Stabilization of growth in supply and demand in recent years Most efficient form of transportation 49km 1. ClearSeas - 1 tonne of cargo on 1 litre of fuel seaspan 100km 200km 300km 400km 1 226km Marine is the most fuel-efficient mode of transportation¹ 394 km 14#15Significant Platform Improvements December 31, 2017 10 Vessels 3-Year Change December 31, 2020¹ Fleet Over >10,000 TEU² = 79% 2,500 TEU 3,500-4,250 TEU 26 Vessels seaspan Fleet Over >10,000 TEU² = 58% 21% (by % of total TEU) 2,500 TEU (by % of total TEU) 12 Vessels 24,000 TEU 2 Vessels 17 Vessels 13,000-14,000 TEU 4% 16% 3% 2% 9 Vessels 3% 7% 8,500-9,600 TEU 16 Vessels 13,000-15,000 TEU 47 Vessels 9% 3,500-4,250 TEU 25 Vessels 4,500-5,100 TEU 35% 4,500-5,100 TEU 89 vessels 665,900 TEU 7% 10 Vessels 16% 23% 8,500-9,600 TEU 12 Vessels 10,000-12,000TEU 15 Vessels 58%² >10,000 TEU 43% 160 vessels 1,560,200 TEU 79% >10,000 TEU 33% 10,000-12,000TEU 48 Vessels As of December 31, 2020; pro-forma for newbuild containership orders for 31 vessels announced on December 7, 2020, February 8 and 12, 2021, and March 4 and 8, 2021, and two secondhand vessel acquisitions announced March 2, 2021 1. 2. On a TEU-weighted basis 15#16Transformation to a Diversified Customer Base December 31, 2017 Top 3 Customers² = 75% 3-Year Change December 31, 2020¹ Top 3 Customers² = 54% (by % of total TEU) MAERSK Hapag-Lloyd 6% 4% CMA CGM 6% ONE OCEAN NETWORK EXPRESS 3 16% SC 9% 19% M -21% (by % of total TEU) COSCO SHIPPING m SC 40% 16% ZIM 11% 4% MAERSK 7% Hapag-Lloyd 10% CMA CGM Other 1% seaspan COSCO SHIPPING 18% 20% ONE OCEAN NETWORK EXPRESS 14% M As of December 31, 2020; pro-forma for newbuild containership orders for 31 vessels announced on December 7, 2020, February 8 and 12, and March 4 and 8, 2021, and 2 secondhand vessel acquisitions announced March 2, 2021 1. 2. On a TEU-weighted basis 3. Combination of Mitsui OSK Lines, Kawasaki Kisen Kaisha, and Nippon Yusen Kabushiki Kaisha into Ocean Network Express to match current presentation 16#17Transformational Performance December 31, 2017 Gross Contracted Cash Flow¹ $4.7 billion 3-Year Change $6.3bn or 134% Operating Fleet Count 89 71 Vessels or 80% Vessels Operating Fleet TEU 665,900 TEU Average Age of Fleet4 6.0 Years Average Remaining Lease Term4 5.2 Years December 31, 2020PF Gross Contracted Cash Flow PF,2,3 $10.7 billion Operating Fleet CountPF 160 Vessels Operating Fleet TEUPF 1,560,200 894,300 TEU or 134% TEU -0.7 Years Average Age of Fleet³F,4 5.3 Years Average Remaining Lease TermPF,4 6.5 1.3 Years Years PF As of December 31, 2020; pro-forma for newbuild containership orders for 31 vessels announced on December 7, 2020, February 8 and 12, 2021, and March 4 and 8, 2021, and two secondhand vessel acquisitions announced on March 2, 2021 Gross contracted cash flows include $4.0 billion of lease payments receivable from operating leases and $0.7 billion of minimum lease receivable from finance leases 1. 2. 3. 4. Gross contracted cash flow includes $3.9 billion of lease payments receivable from operating leases, $0.9 billion of minimum lease receivable from finance leases, as well as $5.9 billion lease payments to be received from undelivered vessels Includes cash flows expected from signed charter agreements on undelivered vessels, excluding purchase options, extension options, higher charter rate options and profit-sharing components Weighted by TEU seaspan 17#18Opportunity for Lessor Consolidation The fragmented landscape leaves significant room and benefit for consolidation Other, 51% 1. Containership Lessor Market Share¹ seaspan, 10% Peter Dohle/Hammonia, 3% Opportunity for Consolidation seaspan Shoei Kisen, 5% Costamare, 5% BoCom Leasing, 4% Zodiac Maritime, 4% Danaos, 4% Minsheng Financial Leasing, Eastern Pacific Shipping,4% Offen, Claus Peter, 3% □ Economies of scale and barriers to entry Access to financing Customer relationships Scale of service □ Larger, more diverse fleet provides significant benefits □ Improved credit profile and cost of capital SFL Corp, 3% Alphaliner Monthly Monitor - February 2021; excludes vessels under construction 18#19Q4 2020 Industry Update and Outlook¹ 1 Consistent Growth Linked to Global GDP... Container Shipping Demand - TEU (million) 2 With All-time Low Orderbook... Containership Orderbook % Fleet seaspan 2021E: 70% 250mn 200mn 206mn TEU 60% 50% 40% 150mn 100mn 50mn 30% 20% 10% 0% Omn 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 4 3 and Low Idle Rate... Total Containerships % Idle² 12.0% ...Providing Strong Tailwinds for Industry Containership Timecharter Rate Index - Charter Rate ($/day) $50,000 9,000 TEU 6,800 TEU 4,400 TEU 3,500 TEU $40,000 $30,000 $20,000 $10,000 1% $0 10.0% 8.0% 6.0% 4.0% 2.0% السا Jan-17 Jul-17 Jan-18 Jul-18 Jan-19 Jul-19 Jan-20 Jul-20 Jan-21 1. Clarksons Research - February 2021 2. Alphaliner Monthly Monitor Newsletters 11% Jan-17 Jul-17 Jan-18 Jul-18 Jan-19 Jul-19 Jan-20 Jul-20 Jan-21 1192#20APR Overview APR ENERGY.#21APR ENERGY. APR at a Glance: APR is the industry leader in fast-power solutions Globally Integrated Attractive Fleet Strong Financial Profile #1 Owns & operates the only mobile gas turbine fleet in the world¹ 850MW Mobile Gas Turbines * Multiple sources of fuel, fast setup time, space-efficient $180mn $205mn - 2021 Revenue³ $97mn $118mn $ 2021 Adjusted EBITDA³ Conservative Leverage Profile ~$228mn Debt² Reciprocating Engines ~1.5x Debt² to Adjusted EBITDA4 Global Footprint 9 Power Plants² 5 Countries² 0.9 GW installed² Over 5GW deployed since inception 450+ global staff ~526MW Diesel Generators (genset) / Gas 1234 ~330 plant operators ~115 corporate Includes BOP and full turn-key solution As of December 31, 2020 Guidance provided on March 8, 2021 See Q4 2020 earnings release for non-GAAP reconciliations to nearest GAAP measure; represents 10 months of APR Adjusted EBITDA for 2020 annualized (divided by 10 months, multiplied by 12 months) 21 21#22Diversified Global Energy Company Over 5GW of projects executed in 35+ countries in 15 years Active Projects - Installed MW Completed projects. Operations & Maintenance Headquarters APR ENERGY. Gas Turbines CORE BUSINESS - attractive assets with multiple fuel sources, significant benefits for customers ■ Power dense: 20-35MW per turbine (scalable to 500MW+ projects); small footprint and fully mobile ■ Emissions friendly: Low emission, cost effective & fuel flexibility, produces 90% less NOx than diesel engine ■ Fast: ~30-day delivery & installation, full power <10 minutes Diesel Gensets LEGACY FOCUS - divesting of assets as contracts roll off ■ Portable: Containerized (40ft) for low footprint (~1.5MW generation), local or remote operation ■ Scalable: From 1.5MW - 300MW+ ■ Fast: 30-day delivery & installation 22 22#23Sustainable Value Proposition APR deploys mobile power solutions to global utility companies to provide bridging power, emergency relief, grid stability, and other long-term use cases Temporary Power Solution Long-Term Power Solution Situation ■ 3-5 years to build traditional plant ■ Bureaucratic / financial delays between need for power and build of permanent plant Emergency relief from failing infrastructure and natural disasters ■ Poor planning: filling supply/ demand gap ■ Structural need for backup power (seasonal and intermittent surges in power use) Instability due to increased renewable use ■ Permanent solutions for aging infrastructure & emerging power markets Value Proposition Bridging Power: ■ Cost-effective & timely source for temporary need ☐ APR ENERGY Opportunity to combine with phased long- term solution Emergency Fast-Power: ▪ Leader in speed of execution ■ Puerto Rico operational 17 days from contract signing Grid Stability/Peaking Power: ■ Versatile (many fuel sources), reliable, operates in harsh / remote locations Permanent Power Solutions: ■ More efficient than aging infrastructure; scalable solutions 23 23#24Competitive Landscape APR is a market leader in mobile, utility-scale power solutions " Renewables Large Scale Mobile Power Rental Diesel Generators APR ENERGY. Early-stage/ development Lack of competition within space; primary competition is lease vs buy decision or permanent infrastructure Highly competitive; smaller-scale projects and services different customers Solar, Wind, Batteries Traditional Utility / Regional Rentals / National Generalist OEM OEM Rentals APR is looking at complementing its turbine fleet with a variety of renewable offerings ■MSP aggreko Specialty Generation Niche operators offer capacity for specific use cases E.g. portside power (Karpowership) K KARPOWERSHIP Primary competition is permanent infrastructure 3-5 years vs <60 days¹ (different use cases) DOOSAN CAT SIEMENS Prices driven lower by competition/ willingness to accept lower returns Purchasing mindset in new markets aggreko CAT SOENERGY VPOWER 1. Based on time between contract signature and power generation INTERNATIONAL " Able to "bundle" " equipment rentals Able to compete for specialty rental margins United Rentals Ashtead group GROUP altaaqa global ENERGY SERVICES Atlas Copco Herc Rentals 24 24#25Sustainability at Atlas ATLAS CORP.#26ESG Principles at Atlas Atlas is committed to strong ESG practices ATLAS A Environmental Leverage full life cycle management platform to optimize vessel efficiency ▶ Ship development and technology ►Ship operational excellence ▶ Ship recycling ■ Sustainability-linked loan and bond ■ Pre-Deployment Site Survey to assess safety, environmental, and impact to protected species risks Social ■ Diversity and Inclusivity Policy in place ☐ ■ Equal opportunity employer Committed to competitive seafarer pay Seafarer safety and wellness programs ■Community development programs focused on quality and security of life of local areas ☐ Governance Strong frameworks supported by Standards of Business Conduct Policy ▪ Zero tolerance approach to bribery and active participant in Maritime Anti-Corruption Network ☐ Whistleblower Policy and Business Conduct hotline ■ Information security program based on internally recognized frameworks Recent Developments ■ First sustainability-linked loan and bond in the containership leasing space Developing Atlas' first annual ESG report Exploring alternative- fueled vessels to reach sustainability-linked bond targets 26 26#27A Environmental Objectives, Priority and Plan Seaspan Leveraging Full Life Cycle Management Ship Development Ship Operation Ship Recycling ☐ SAVER Program ㅁㅁ ப ப ☐ Asset Development Plan Efficiency Improvement о Emission Reduction Noise Reduction Bio-fouling reduction Decarbonization Strategy Achieved ISO 14001 certification Voluntary Environmental Compliance Program (VECP) Oil and chemical pollution Vessel Performance Monitoring Sustainable Procurement Responsible procurement and logistics Plastics Reduction Sustainable Ship Operation Refer to Environmental Aspects Database Shore office environmental initiatives The EU Ship Recycling Regulation IHM The Hong Kong Convention IHM Seaspan Ship Recycling Policy Metrics and KPI's ☐ ESG Reporting CO2 EEDI/EEOI AMP Ballast Water Plastic Waste Reduction Oil Spill Incidents ☐ Voluntary Reporting ESI Poseidon Principles 27 27#28■ Social: Safety Culture & Social Responsibility at Seaspan Strong safety culture and view on Corporate Social Responsibility # Lost Time Injuries (TTM) Diversity and Inclusivity Policy in place to ensure a discrimination-free environment Seaspan is an equal opportunity employer, reporting on gender equity to the Board annually Lost Time Injury Frequency (LTIF) Monthly LTIF Average (TTM) 2.85 2.20 2.22 1.58 57 1.32 43 33 0.69 0.47 34 31 27 14 11 2014 2015 2016 2017 2018 2019 2020 Seaspan's LTIF continues to decline (all-time low) Safety Initiatives focused on safety culture Safety Culture Organizational Assessment (SCORA) implementation Mental Wellness at Sea, Anti-piracy Management, Safety of Navigation, Anti-drug Campaign Safe Carriage of Cargo Safety Flashes regularly sent to the fleet 28 A#29Governance: Our Commitment to Sound Governance Policies We are always working to maintain the governance practices that will ensure our stakeholders' ongoing confidence. This involves a continual review of how evolving legislation, guidelines and best practices should be reflected in our approach Governance Framework ㅁㅁ ☐ ப ☐ Standards of Business Conduct Policy - robust code of conduct, anchor to Governance Framework Anti-Bribery and Corruption Policy - zero-tolerance approach to bribery and corruption Whistleblower Hotline; Independent Reporting to Audit & Compliance – system of checks and balances, and independent investigation processes Insider Trading and Anti-Trust - strong personal trading policy; Atlas is committed to fostering free market competition and preserving the free enterprise system A ☐ ㅁㅁ ப Corporate Governance: 7/8 directors independent, private sessions of independent directors, risk oversight by the Board and Audit Committee Shareholder Rights: Annual election of directors, majority voting for directors Compensation: Pay-for-performance philosophy, director share ownership guidelines, independent directors required to take ~63% of their annual retainer in restricted shares Information security program protects confidentiality, integrity and availability of information assets Program is based on an internationally recognized framework and includes appropriate business processes, security technology elements and qualified personnel Governance Practices ☐ Data Security Anti-Corruption and Business Practices ☐ Atlas believes honesty, integrity and ethical conduct are key values, and we have embedded this in our way of working with customers, suppliers, employees, shareholders and the communities in which we operate ☐ Participation in Marine Anti-Corruption Network (MACN) 29 29#30Financial Highlights ATLAS CORP.#312020 Financial Highlights Consistent Strong Performance Through Adversity A Atlas 2019 2020 Revenue ($ millions) 1,131.5 1,421.1 Adjusted EBITDA* ($ millions) 714.3 923.8 Funds from Operations* (FFO) ($ millions) 375.3 622.3 FFO Per Share*, Diluted ($) 1.71 2.48 Earnings Per Share, Diluted ($) 1.67 0.50 Ending Liquidity ($ millions) 470.0 771.3 Seaspan Adjusted EBITDA* ($ millions) 714.3 795.5 Funds from Operations* (FFO) ($ millions) 375.3 596.7 Vessel Utilization (%) 98.9% 98.4% Operating Vessels (#) 117 127 Fleet Capacity (TEU '000) 956 1,073 Gross Contracted Cash Flow¹ ($ billions) 4.7 4.8 APR¹ Adjusted EBITDA* ($ millions) Funds from Operations* (FFO) ($ millions) 127.0 88.7 Power Fleet Utilization 74.0% 68.9% Gross Contracted Cash Flow² ($ billions) 0.3 For 2020*: Revenue increased by 25.6%³ FFO growth of 65.8%³ FFO growth of 45.0% per diluted share³ Total liquidity increased by 64.1%³ during 2020 to $771.3 million at year-end * See Appendix for reconciliations to the most directly comparable GAAP measure; FFO per Share represents Funds from Operations per diluted share 1. 2. 3. Seaspan gross contracted cash flow as at December 31, 2020 includes $3.9 billion of lease payments receivable from operating leases and $0.9 billion of minimum lease receivable from finance leases. Seaspan gross contracted cash flow as at December 31, 2019 includes $3.5 billion of lease payments receivable from operating leases and $1.2 billion of minimum lease receivable from financing leases. APR gross contracted cash flow as at December 31, 2020 includes $0.3 billion of lease payments receivable from operating leases Compared to 2019 31#322021 Financial Guidance¹ 1. (US$ millions) Operating Metrics Seaspan 2021 Guidance Low High Revenue 1,325 1,355 Operating Expense 276 290 General and Administrative Expense 41 46 Operating Lease Expense 144 152 Adjusted EBITDA 839 874 APR Revenue Operating Expense General and Administrative Expense Operating Lease Expense Adjusted EBITDA 180 205 35 37 45 47 97 3 5 3 118 All estimates are approximate, based on current information, and are subject to change. See "Notice on Forward Looking Statements" on slide 2 A 32 32#33PF 1. 2. NYSE: ATCO Key Investment Attributes 1) Resilient and differentiated business model ☐ ☐ $11.0 billion PE,1,2 long-term gross contracted cash flows Scalable multi-platform Fully integrated solutions 2) Five Key Core Competencies ☐ ■ Consistent operational excellence Creative customer partnerships ☐ Solid financial strength ☐ Quality growth ☐ Disciplined capital allocation 3) Quality Growth ■ Diversification of customers Enhancing fleet composition ☐ Quality assets with long-term charters A As of December 31, 2020; pro-forma for newbuild containership orders for 31 vessels announced on December 7, 2020, February 8 and 12, 2021, and March 4 and 8, 2021, and two secondhand vessel acquisitions announced on March 2, 2021 Gross contracted cash flow includes $4.2 billion of lease payments receivable from operating leases, $0.9 billion of minimum lease receivable from finance leases, as well as $5.9 billion lease payments to be received from undelivered vessels Includes cash flows expected from signed charter agreements on undelivered vessels, excluding purchase options, extension options, higher charter rate options and profit-sharing components 33 33 A#34Appendix ATLAS CORP.#35Atlas Leadership Team □ Chairman of Atlas □ Over 40-year business career, founded three companies, took three companies public and sold MidAmerican Energy Holdings Co. to Berkshire Hathaway in 2000 □ Chief Operating Officer, Seaspan Over 20 years of experience in shipping, logistics and infrastructure, during which he held senior leadership roles and board positions David Sokol Bing Chen President and Chief Executive Officer of Atlas Corp □ Director, president and CEO of Seaspan 25 years of international executive experience including finance and asset leasing businesses Most recently CEO of BNP Paribas (China) Ltd. Graham Talbot □ Chief Financial Officer More than 25 years of experience in finance, operations, systems, and accounting primarily within the energy sectors (Maersk Energy, Maersk Oil, BG Group, and Shell) □ Previously served as CFO for the Abu Dhabi Power Corporation Peter Curtis Chief Commercial Officer, Seaspan □ Previously served as EVP (Jul-2017), Chief Commercial & Technical Officer (Mar-2018), Chief Operating Officer (Feb-2012) □ Over 30 years of experience in commercial maritime operations and engineering Torsten Pedersen Tina Lai Chief Human Resources Officer Over 20 years of experience as a results-oriented human resources professional within a number of industries □ Most recently Human Resources VP at Metrie Karen Lawrie General Counsel □ Previously served as General Counsel with Bumi Armada, an international offshore oilfield services provider, JP Morgan Securities, and Goldman Sachs Has experience in maritime, energy, and financial services experiences across Europe, the US, Mexico, Brazil, Southeast Asia, and Africa Brian Rich □ President & Chief Operating Officer, APR Energy □ Previously served as Senior VP of Business Development for APR in 2012 & Chief Executive Officer of AES Africa Power □ Over 20 years of international energy and utility infrastructure experience 95 35 A#36Q4 2020 Quarterly Performance Revenue ($ millions) $386 $364 $363 $308 $288 Q4 19 Q1 20 Q2 20 FFO* ($ millions) Adjusted EBITDA* ($ millions) $239 $250 $239 $196 $181 Q3 20 Q4 20 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Cash Flow from Operations¹ ($ millions) $212 $193 $174 $161 $163 $159 $138 $125 $131 $112 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 * 1. See Q4 2020 earnings release for non-GAAP reconciliations to nearest GAAP measure Historical periods reclassified to match current presentation 36 36 A#37Debt Maturity Profile ($ millions) 1. Maturity Profile¹ $1,189 $1,150 $65 $731 $645 $564 $511 $877 $57 $401 $65 $188 $65 $451 $65 $430 $365 $286 $392 $247 $223 $51 $82 $156 2021 2022 2023 2024 2025 Thereafter ■Revolving Credit Facilities ■Term Loan Credit Facilities Fairfax Notes and Unsecured Notes ■Capital Leases (As of Dec 31, 2020, in USD mn) Revolving Credit Facilities Term Loan Credit Facilities Fairfax Notes and Unsecured Notes Capital Leases Total Debt Maturity As of December 31, 2020 2021 2022 2023 2024 2025 Thereafter Total 51 392 82 247 772 286 188 365 877 223 156 2,095 - 451 430 881 65 65 65 65 57 564 880 401 645 511 1,189 731 1,150 4,628 No significant debt maturities until 2024 A 37#38Supportive Long-Term Strategic Shareholders of Atlas Corp FAIRFAX FINANCIAL HOLDINGS LIMITED The Washington Companies A Overview Insurance and investment management company with over $70bn¹ in assets (TSX:FFH) Founded Headquarters Strategic partner with long-term investment horizon " 1951 Ontario, Canada $500mn 5.5% 7-year debentures (2018 & $500mn equity (2018 & 2019) Major Investments 2019) in Seaspan² Ownership 40%³ $100mn 5.5% 7-year debentures (2020) Owns portfolio of industrial companies in rail transport, mining, and aviation " Seaspan founder Actively involved with Seaspan since its founding 1964 Montana, US $160mn Series A Preferred Equity investment (during 2009 recession) 24%3 Fairfax has invested $1.1bn in Seaspan since 2018 123 1. Source: Fairfax 2019 annual report 2. Above $100mn in size; does not include Washington Family capital invested at founding 3. As of December 31, 2020 38 88