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<strong>Mosvold</strong> – an experienced shipping andoffshore services group• The <strong>Mosvold</strong> family has continuously been active in shipping since e 1910• First investment in offshore: Part ownership of semi early 80ies• Acquired 3 modern J/Us from Keyes Offshore in 1989• <strong>Mosvold</strong> Shipping was IPO’d d on the Oslo Stock Exchange in 1990• Acquired 100% of Dual Drilling Co in 1990. Dual was a Dallas based worldwidedrilling contractor owning 3 J/Us and 10 platform rigs• Through Dual, acquired further 3 J/Us in 1993 combined with raising ing newequity/bonds and listing of Dual on NASDAQ (<strong>Mosvold</strong> Shipping retained 60% ofDual)• Dual merged with Ensco in 1996 with payment in shares. All shares s distributed to<strong>Mosvold</strong> shareholders• Board member Morten Borge was the CEO of <strong>Mosvold</strong> Shipping during the “DualDrilling Period” he also served as Chairman of the Board of Dual Drilling in Dallaslas• <strong>Mosvold</strong> initiated a J/U project 1H 2004 to build 2 J/U (with 4 options) oat PPLShipyard and Keppel FELS in Singapore. The entire project sold to Awilco in 2004 andis the now the foundation of Awilco Offshore• In 2005, <strong>Mosvold</strong> founded <strong>Mosvold</strong> Drilling (That contracted two Ultra UDeep WaterDrillships with Samsung) which was later acquired by SeaDrill9
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