BACKGROUND

� Gard Shipping AS was established in 1980, initially as a dry cargo operator.

� In 1981, the company moved into ship-owning,and Gards Rederi AS was founded.

� The company owned a fleet of up to 8 vessels, and became a leading owner and operator of bulk cargo vessels in North Western Europe.

� The fleet was sold in 1998.

� Gard Shipping’s tanker chartering activities started in 2006.

ZALIV BAIKALZaliv Baikal104.000 tdwIce class 1CBuilt 2009

THE OWNER

Tore Gard owns the majority of the shares in

Gard Shipping AS.

In addition to a career at sea he has more than

40 years experience in the shipping industry.

The company was the first to utilize the North West passage for commercial tanker business with their ice class vessels.

HISTORY OF OUR TIMECHARTERVESSELS IN THE TANKER INDUSTRY

Zaliv Baikal Ice 1C 104.000 tdw built 2009 Prisco 3 years

King Philippos 112.000 tdw built 2012 Latsis redelivered 1 year

Lady Henrietta 112.000 tdw built 2012 Latsis redelivered 1 year

Propontis Ice 1A 117.000 tdw built 2006 Tsakos redelivered 3 years

FR8 Reginamar 73.000 tdw built 2004 FR8 redelivered 1 year

FR8 Venture 73.000 tdw built 2004 FR8 redelivered 1 year

STI Harmony Ice 1A 73.000 tdw built 2007 Scorpio redelivered 4 years

STI Heritage Ice 1A 73.000 tdw built 2008 Scorpio redelivered 5 years

Freja Polaris Ice 1B 37.000 tdw built 2004 Lauritzen redelivered 2 years

Cielo di Parigi 36.000 tdw built 2001 d’Amico redelivered 1 year

Torm Madison 35.000 tdw built 2000 Torm redelivered 1 year

Perseverance Ice 1A 73.000 tdw built 2005 Transpetrol redelivered 4 years

Kaspar Schulte 65.000 tdw built 2004 ST shipping redelivered 1 year

Summit America 74.000 tdw built 2006 ST Shipping redelivered 1 year

Seapowet OBO 74.000 tdw built 1992 ST Shipping redelivered 3 years

SPOT AND TIMECHARTER OUTCUSTOMERS SINCE 2006

� Novatek� BP

� CSS SA

� ENI

� Hetco

� Gunvor (Clearlake)� Litasco

� MSC (US Military)

� Morgan Stanley� Newton

� Petrobras

� Reliance

� Shell

� SK Energy� Socar

� Solal

� ST Shipping� Trafigura

� Statoil

� Vitol

� Valero

� Nyala

CONTACT

ZALIV BAIKAL

The company holds office in the scenic harbour of Tonsberg City, the oldest city of Norway. The city has a proud shipping history, and it is located 45 minutes south of Oslo.

Gard Shipping ASRambergveien 25

3115 Tønsberg

Norway

shipping@gardshipping.no

Tore GardMob.:+47 950 44 000

Office:+47 33 50 38 50

tore@gardshipping.no