MacGregor TTS Acquisition Overview

Conclusion Conclusion 雪龍 2 YUE LONG 2 ☐ Uncertainties in the global economy & trade, combined with environmental compliance requirements, puts pressure on short term market; the recovery of merchant market expected earlier than offshore. Cyclical market is part of the maritime industry nature; MacGregor have been long in the industry as an experienced veteran with asset light competence center + hubs model and strong execution capabilities.COM TTS acquisition completed at the right time to support business resilience; the integration work has commenced with services growth potential through serving the combined installed base and a strengthened global support network. Chinese customers increasingly important, particularly the mega SOEs; the strategic cooperation between MacGregor and the key SOEs will be complemented by TTS JVs to secure the growth of the population of the install base for service also in China, though hold-separate*. IMO 9829241 Intelligent services innovation, such as OnWatch Scout, increases shipowner's asset value and safety, builds a stronger bond between MacGregor and the key customers along the value co-creation journey... and new services revenue will follow. *Certain new equipment business in China is subject to temporary hold separate, which does not apply to aftersales services. MACGREGOR 21

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