Intershield®300 60% of the world’s LNG carriers are protected by Intershield®300 – the industry benchmark in corrosion protection Intershield®300 Abrasion resistant aluminium pure epoxy The LNGc industry choice. Operators of LNGcs demand high performance coatings to deliver long term asset protection throughout the 40 year vessel life. That’s why over 60% of the world’s LNGcs are protected by Intershield®300   Working closely with the world’s major vessel operators and new construction yards, International Paint recognised the importance of high performance corrosion protection for improved newbuilding productivity and long term asset protection. Over 20 years after its introduction, Intershield®300 is now firmly established as the newbuilding industry benchmark for premium performance, abrasion resistant, corrosion protection. Value Proposition: - Intershield®300 - is available in the newbuilding and maintenance and repair sector as an integral part of an overall corrosion protection program designed to provide cradle to grave protection for the ship. With an operational requirement for the highest levels of corrosion protection, many operators of LNG newbuildings have chosen International Paints’ Intershield®300 for just about every area of the vessel. Intershield®300, specified and professionally applied initially at the new construction stage and then during planned maintenance throughout the vessel’s life, can offer long term asset protection, maximised operational efficiency, controlled future maintenance costs and good return on investments. Intershield®300 has built an impressive and unique track record of outstanding corrosion protection on over XXX LNG carriers worldwide.* PSPC Into updated position – Intershield®300 is widely recognised as the industry benchmark product in terms of IMO PSPC compliance. With its excellent anticorrosive performance, unique abrasion resistance and over 9% aluminium content, this pure epoxy coating offers asset protection beyond legislative compliance. “In a third special survey of the 15-years-old bulk carrier, m.v. Eleranta, built in Samsung in 1995, a Lloyd’s Register surveyor confirmed the double bottom tank of the vessel coated with Intershield®300 was in “good” condition. This is the only recorded vessel that has proven to meet the IMO PSPC guidelines and it’s expected that Intershield®300 will continue to deliver excellent protection to the m.v. Eleranta further into her life.”

Intershield®300 Overview Features & Benefits Technology Background Proven In-service Performance Track Record

Intershield®300 - Overview Intershield®300 the LNGc industry operators’ choice for high performance, long term asset protection. Introduced in 1988, Intershield®300 can be used as a universal primer at Newbuilding or Maintenance & Repair. This unique abrasion resistant, (>9%) aluminium pure epoxy coating offers long term asset protection, control of through life maintenance costs and enhances vessel earning potential Intershield®300 is a light coloured, abrasion resistant, aluminium pure epoxy coating. It can be applied directly to mechanically prepared shop primer or suitably prepared bare steel and is suitable with controlled cathodic protection Intershield 300 was introduced in 1988 to the market and used in ballast tanks for the first time in 1995. Giving us 15 years in service performance on the Eleranta. NB: 360 vessels in the fleet, 150 LNGc vessels coating by IS300 at NB

Intershield®300 - Overview 60% of the global LNGc fleet is protected by Intershield®300. Intershield®300 has been applied to 150 LNGc vessels. With an average vessel lifetime expectation of 40 years, the LNGc industry demands exceptionally high levels of corrosion protection. Failure to apply adequate corrosion protection at Newbuilding leads to additional costs to LNGc owners and operators during the vessel lifespan Many LNGc owners and operators recognise the importance of using the highest level of protection available and are taking advantage of the performance of Intershield®300 Additional Information 60% of the global LNGc fleet are protected using Intershield®300 (both at NB and M&R) At Newbuilding 150 vessels coated with Intershield 300 (360 vessels in the fleet) The LNG shipping industry prides itself on its long record of safe operations and with an above average vessel lifetime expectation of 40 years, the LNGc industry demands exceptionally high levels of corrosion protection.

Intershield®300 - Overview The basic concept of a Universal Primer is to simplify block painting procedures Replacement of several products with a single product that meets all the required characteristics that the shipyard demands. Intershield®300 is has excellent application properties and low temperature cure so it can provide the same ultimate protection through all seasons Intershield®300 can ensure all areas of your LNGc are protected by the ultimate corrosion protection. NB: 360 vessels in the fleet, 150 LNGc vessels coating by IS300 at NB

Intershield®300 – Features & Benefits Universal application at Newbuilding and Maintenance & Repair Replacement of several products with a single product that meets all of the shipyard’s production requirements Low temperature cure and year round workability Excellent application properties providing the same ultimate protection and productivity through all seasons Ultimate long term corrosion and abrasion resistance Maintains the structural integrity of the vessel - increasing the lifespan and reducing long term maintenance costs Aluminium pigmentation (> 9%) The right levels of aluminium - acting as a barrier pigment, preventing the spread of corrosion and improving resistance to cathodic disbonding Excellent edge retention Long term protection of areas typically prone to corrosion IMO PSPC Compliant Approved system which meets the latest IMO regulatory requirements

Intershield®300 – Corrosion Resistance Due to the emergence of new supply and importing markets trade routes for LNG carriers are becoming more diverse. In ballast tanks, for every 10oC increase in ballast water temperature the rate of corrosion doubles - increasing the requirement for a higher performance anticorrosive. Cycling between hot and cool water also increases the internal stresses within coatings and so crack resistance becomes imperative. Export Countries Qatar, Australia, Yemen, Nigeria, Peru, Angola, Norway, Russia… Import Regions Europe, Americas, Asia

Intershield®300 – Corrosion Resistance At the core of a sound hull structure is the requirement to maintain the ballast tank anticorrosive system. By specifying Intershield®300, LNGc owners and operators can reduce maintenance, repair and touch-up costs, steel replacements and time in dock. In service inspections of Intershield®300 give evidence that it delivers long term asset protection and return on investment. Due to the complexity of water ballast tanks – its is difficult for the applicator to ensure that the correct dry film thickness is applied to all vessel areas - Intershield®300 performs excellently at both high and low dry film thicknesses. Modified Epoxy – 7 years in Service Intershield®300 – 7 years in Service Although it is common practice for yard quality assurance personnel and owners’ representatives to focus on identifying areas of low dry film thickness, inevitably due to the complexity of these structures some areas will not achieve the specified film thickness Low DFT is a key cause of premature corrosion in ballast tanks – Intershield 300 delivers excellent ac protection even when applied at low dft. Intershield®300 – 15 years in Service

Intershield®300 – Corrosion Resistance Corrosion and general fatigue increase as LNGc age Many LNG vessels are built using high tensile steel as it allows the use of thinner plates whilst maintaining structural integrity. High tensile steel corrodes just as quickly as mild steel – and is a concern because there is less steel to corrode before a resultant failure / leak takes place. Intershield®300 is designed for the ultimate long-term corrosion protection to minimize maintenance expenses and maximize long-term asset protection

Intershield®300 – Aluminium Pigmentation Aluminium acts both as a barrier pigment and to prevent the spread of corrosion at the steel surface (reduction in underfilm creep) The maximum allowable level by class societies for aluminium (in the dry film) is 10% by weight Intershield®300 contains just the right levels of aluminium (>9% by weight in the dry film) to ensure it is safe and compliant Also offers improved resistance to cathodic disbonding – providing corrosion protection from Newbuilding through the lifetime of the vessel

Intershield®300 – Edge Retention Due to the complexity of water ballast tanks, edge protection is critical - yet many coatings start to fail on edges, exposing the steel and leading to corrosion. Stripe coating helps but the best solution is to use a coating that utilizes “edge retentive” properties Intershield®300 performs excellently on edges giving the owner long term corrosion protection - even on the most demanding vessel areas. Typical Modified Epoxy < 40% Intershield®300 = 100%

Intershield®300 – Technical Expertise Our globally available, highly trained technical service team means that we can provide a service beyond paint delivery and can give sound technical advice to support the lifespan of your LNGc vessel Our worldwide technical service training program is recognized by Classification Societies as equivalent to NACE and FROSIO qualifications and meets the requirements of IMO Resolution MSC.215(82) – Performance Standard for Protective Coatings (PSPC) Globally International Paint has over 800 TSRs, 260 qualified to NACE standards and 105 FROSIO Inspector Level III or equivalent – as verified by the administration.

Intershield®300 – Track Record 60% of the world’s LNGc fleet is protected by Intershield®300 Source: Dataplan recorded vessel applications (NB and M&R) as of June 2011

Intershield®300 – Track Record 42% of global LNGc newbuildings coated with Intershield®300 Source: Dataplan recorded vessel applications (NB and M&R) as of June 2011

Intershield®300 – Track Record Total : 199 vessels LNGc Market Share at Korean shipyards 148 vessels IPK’s Track Record - by Products (No. Vsls) * Under supply and secured projects are included as of June 2011.

Intershield®300 – In-service Performance 1 2 3 4 5 6 7 8 9 10 Vessel Type LNG Vessel Size 216,000 m3 Date of build June 2009 Location of build HHI, Korea Areas with Intershield®300 Water ballast tanks Coating Scheme 2 x 150 microns Date of inspection (years in service) 19th June 2009 (2 years 2 months) Al Kharaitiyat

Intershield®300 – In-service Performance 1 2 3 4 5 6 7 8 9 10 No. 1 WBT No. 5 WBT Forepeak WBT Overall very good condition Overall excellent performance No corrosion on cut-outs or scallops Excellent corrosion resistance and protection of edges Al Kharaitiyat

Intershield®300 – In-service Performance 1 2 3 4 5 6 7 8 9 10 Vessel Type LNG Vessel Size 138,000 m3 Date of build Dec 2000 Location of build Samsung, Korea Areas with Intershield®300 Water ballast tanks Coating Scheme 2 x 150 microns Date of inspection (years in service) Apr 2004 (3 years 4 months) Sk summit

Intershield®300 – In-service Performance 1 2 3 4 5 6 7 8 9 10 No. 2 WBT (S) - Ceiling No. 2 WBT (S) - Ceiling No. 2 WBT (S) - Floor Excellent condition No breakdown or defects Overall excellent performance Excellent corrosion resistance with no breakdown Mud stains indicate that tank is frequently used

Intershield®300 – In-service Performance 1 2 3 4 5 6 7 8 9 10 No. 2 WBT (S) - Outer hull Forepeak WBT No. 2 WBT (S) - Ceiling No cracking in complex areas Waterline of ballast water visible Excellent performance on the weld seams touched-up at newbuilding Excellent performance over well prepared welds The mud stains in welding line indicates frequently used tanks

Intershield®300 – In-service Performance 1 2 3 4 5 6 7 8 9 10 No. 2 WBT (S) - Ceiling No. 2 WBT (S) - Outer hull No. 2 WBT(S) - double bottom Excellent edge retention Excellent edge condition at rat hole and weld seams No edge breakdown The mud stains indicate that this tank is frequently used

Intershield®300 – In-service Performance 1 2 3 4 5 6 7 8 9 10 Vessel Type LNG Vessel Size 145,000m3 Date of build 30th July 2005 Location of build DSME, Korea Areas with Intershield®300 Underwater Hull, Topsides, Superstructure, voids and water ballast tanks Coating Scheme 2 x 150 microns Date of inspection (years in service) July 2010 (5 years) ASCLEPIUS

Intershield®300 – In-service Performance 1 2 3 4 5 6 7 8 9 10 Ballast Tank Ballast Tank: Under Deck Ballast Tank: Under Deck Excellent condition Excellent corrosion resistance and edge protection Excellent condition

Intershield®300 – In-service Performance 1 2 3 4 5 6 7 8 9 10 Vessel Type LNG Vessel Size 137,231m3 Date of build 11th June 2002 Location of build HHI, Korea Areas with Intershield®300 Water ballast tanks Coating Scheme 2 x 150 microns Date of inspection (years in service) 26th January 2010 (7 years 7 months) LNG Rivers

Intershield®300 – In-service Performance 1 2 3 4 5 6 7 8 9 10 No. 1 WBT (S) No. 1 WBT (S) No. 1 WBT (S) Excellent condition Excellent edge protection Excellent condition Excellent condition for complex area ASCLEPIUS

Intershield®300 – In-service Performance 1 2 3 4 5 6 7 8 9 10 Vessel Type LNG Vessel Size 138,375m3 Date of build 9th December 2000 Location of build SHI, Korea Areas with Intershield®300 Water ballast tanks Coating Scheme 2 x 150 microns Date of inspection (years in service) 15th April 2010 (10 years and 4 months) SK STELLAR

Intershield®300 – In-service Performance 1 2 3 4 5 6 7 8 9 10 Ballast Tank Ballast Tank Ballast Tank Excellent condition Excelled edge retention Excellent condition Excellent condition SK Stellar “General condition of all areas was excellent”

Intershield®300 – Beyond Compliance IMO PSPC standardizes the coating process to ensure ballast tank coatings have a target lifetime of 15 years but it can’t guarantee approved coatings will last this long. Many WBT coatings will achieve 15 years, but will require varying amounts of repair through their life - costing money and time. As LNG vessels are designed and built for a 40 year lifetime, selection of a high performance coating that has proven long-in service performance is wise. Intershield®300 is the industry benchmark in IMO PSPC compliant anticorrosive performance and has an extensive proven track record Modified Epoxy Pure Epoxy P E R F O M A N C Aluminium Pure Epoxy Abrasion Resistant Aluminium Pure Epoxy

Intershield®300 – Beyond Compliance The IMO PSPC for Water Ballast Tanks states that protective coatings must have a 15 year lifetime in dedicated seawater ballast tanks  At her third special survey a Lloyd’s Register surveyor confirmed the double bottom tank coatings of the panamax bulk carrier, the m/v Eleranta to be in “good” condition (as rated in IACS Recommendation 87) Intershield®300 is the only anticorrosive on the market that has proven 15 years in service performance With minimal maintenance and repair, it is expected that Intershield®300 will continue to protect the ballast tanks of the m/v Eleranta; exceeding IMO PSPC standards and going beyond compliance.

Intershield®300 – Beyond Compliance 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Vessel Type Bulker Vessel Size 73,222 dwt Date of build May 1995 Location of build Samsung, Korea Areas with Intershield®300 Water ballast tanks Coating Scheme 2 x 125 microns Date of inspection (years in service) June 2010 (15 years) eleranta It should be noted that the water ballast tanks in this vessel are not protected by sacrificial anodes

Intershield®300 – Beyond Compliance 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 No.1 WBT - double bottom No.1 WBT - double bottom No.4 WBT - double bottom Excellent overall condition Very good corrosion protection of edges and weld seams. No corrosion on cut-outs and scallop areas Excellent edge protection

Intershield®300 – Beyond Compliance 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 No.1 WBT - double bottom No.1 WBT - double bottom Reverse impact damage Excellent resistance to underfilm creep and blistering Excellent overall condition “Excellent corrosion resistance even after reverse impact damage”

Intershield®300 – Beyond Compliance 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 No.1 WBT - double bottom No.1 WBT - double bottom Coating appears in excellent condition after removal of mud staining Excellent corrosion protection at standard dft (250-350μm) after 15 years in service

Intershield®300 – Beyond Compliance 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Forepeak Tank Forepeak Tank Forepeak Tank Good overall condition after 15 years in service in aggressive forepeak tank conditions Excellent corrosion protection in complex areas Some minor areas of corrosion. Good overall protection of edges and weld seams.

Intershield®300 – Summary The LNG shipping industry prides itself on its long record of safe operations Intershield®300 offers LNG vessels the ultimate performance in corrosion resistance and has an unrivalled in-service track record on LNG carriers with 60% of the global fleet under its protection. Intershield®300 specified and professionally applied at the new construction stage and then during planned maintenance throughout the vessel’s life can offer: Operational safety and reliability Long term asset protection Maximised operator efficiency Minimized operational costs Controlled future maintenance cost Good return on investments