Investor Presentaiton
Odfjell at a glance
Odfjell Tankers
Odfjell Terminals
Capital Allocation
Summary
We have recently launched new and ambitious climate targets which goes further
than IMO targets - this is the foundation for our SL Framework
1
Odfjell will cut greenhouse gas emission by 50% by 2030 compared to 2008*
2
Odfjell is dedicated to pursuing a zero-emission strategy and will only order vessels
with zero-emission technology from 2030
3
Odfjell will have a climate neutral fleet from 2050
4
Odfjell will actively support initiatives to develop technology and infrastructure for
zero emissions and support international regulation to drive zero emission for our
industry
"At Odfjell, we build for the future, and act today for a better tomorrow"
* Emissions based on transport work and Annual Efficiency Ratio (AER)
8
ODFJELL
Odfjel's climate targets
Efficiency fuel consumption and emissions go hand in
hand. To improve fuel efficiency and reduce fa
consumption and emissions
Odfel has
as a constant focus
on improving our meet this nudes investing in new
ships deploying retrofit programs. Investing in new
technology and optimizing the way we operate Since
2008 Cell has run several normal program.
resulting in a 373% reduction in our cation intensity by
2020. This means that we have already taken several big
steps. Further reduction poses even bigger challenges
but we commit to connue improving and have as of
September 2020 set ambitious climate targets which go
beyond the tangots of the IMO strategy.
Sustainability-Linked Finance
Framework
21 December 2020
Target 1 Odfjell will cut the carbon sity of our
ox by by 2030 compared to 2008
Target fell will have a climate neutral feet from
2050
Target 2 Off dedicated to pursue-
emission strategy and will orby order vessels with
t-emiton cyf303
Target
wil actively spagetittied to
and support imemutional regulation
dive coro omasion for our indiary
develop technology and instruc
Today, there are no commercianty table atmatives to a
combustion engine when transporting volumes over
great distances The shipping industry needs to find
Solutions reduce and develop commercially
available zero emission ships to be operational from
2030 That is why Catet has joined the ting to Zero
Coalition as an active partner, colaborating with the
ustry, the energy sector, the financial sector,
governments and intemational governmental
organizations to find solutions for a climate neutral flot
in 2060 The Cotons in a partnership between the Cle
Mare Forum The Friends of Ocean adion, and the
Wond Economic Forum, as well as other industry
We have also joined forces with industry partners to
develop a new and flexole fuel cel technology that can
reduce emissions tom shipping by ap to 100% Partners
from shoping. R&D and all and gas are now constructing
apior that can use different types of fuel. The system wil
fst be lested at the Sofainable Energy colapull serter
in Norway before instalation onboard an Odjel ship. The
unique pject was presented on October 1, 2000
In 2019 took a position on the use of scrubbers,
stating that scrubbers would not support the ambition to
reduce sulphur emessons Using scrubbers would also
increase energy consumption and hence increase 00:
Since 2000 cenas nun the feet on
(Vere Low Suprur Fuel Oh, sulphur under 0.5%) and
MGO (Marine Gas Oil, suur 0.1%)
To achieve the ambitious target or cuting transport work
issions by 50% Otel has prepared a fleet transtion
The
plan on a ship bass the Feet Transtion Plan
FeTransition Plan dudes detailed actors, specific to
all our ships in our controlled fleet, to further improve
energy efficiency and nit emissions by implementing a
set of technical operational and digtal measures
avoday. The Fleet Transon Plan a cludes a
plan for feet composition development, and an action
plan for preparing the next generation feet for 200
msions sousons
The Fleet Transition Plan domoretrates that achieving the
targets is possible, and wand prices come
be accelerated as technology
down. The complete plan will not be mase puttc but will
be reviewed by Dev O during the Second Party Opinion
Our work on dimate supports the UN Sustantie
Development Goals (SDGs) 7.12.13 and 14.
CO
14 Fe
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