1. Manufacturing Cluster Meeting September 25 th, 2014

2. ABOUT FINCANTIERI MARINE GROUP

3. Composition of the Fincantieri Marine Group Our shipyards and marine repair facility – Marinette Marine, Bay Shipbuilding, Ace Marine – operate with a strong sense of pride in every accomplishment, creating a commitment to quality and performance. Our experienced workforce is adept in all phases of shipbuilding and repair for both freshwater and saltwater vessels. Fincantieri Marine Group LLC Bay Shipbuilding Company ACE Marine LLC Marinette Marine Corporation ABOUT FINCANTIERI MARINE GROUP

4. BSC CORE VALUES  Ownership and Accountability  Team Work and Collaboration  Business Discipline  Sense of Urgency  Hiring and Developing the Best  Embrace Culture Change and Improvement

5. Shipyards current main programs OVERVIEW OF FINCANTIERI MARINE GROUP FMG is a Fincantieri Company FMG offers complete marine solutions and provides cost- effective answers to complex marine transportation challenges, thanks to: Investments in excess of USD 100 million to build modern and expansive climate-controlled facilities, purpose- designed for maximum manufacturing efficiency under the highest standards of quality control Large and experienced naval architecture and marine engineering staff Highly trained and skilled workforce, committed to safe operation FMG shipyards are based in Wisconsin and have a distinguished history of building - Bay Shipbuilding Co. in Sturgeon Bay traces its roots to 1918, has built in excess of 700 ships and is the leader in repair and conversions on the Great Lakes regions. - Marinette Marine Corp. in Marinette was founded in1942 and has built more than 1,500 vessels for government and commercial clients. - ACE Marine, located in Green Bay, is a new yard and the center of excellence for aluminum boats. Activities / products Overview Bay Shipbuilding. Marinette Marine.. ACE Marine Construction of ATB Units, Double-Hull Tank Barges and Tugs Construction of Offshore Platform Supply Vessels for leading offshore boats operator Repair and conversions of ships operating on the Great Lakes Littoral Combat Ship, one of the main new programs for the US Navy. Advanced Scientific Exploration Vessels for leading institutions such as the Alaska Region Research Vessel and the National Oceanic and Atmospheric Administration Response Boat – Medium for the Coast Guard

6.  National & Worldwide new vessel construction competitor  Governmental  Commercial  Largest Supplier of Great Lakes Marine Services  Recognized product technology leader  Commitment to growth  Excellent Financial Strength ABOUT FINCANTIERI MARINE GROUP

7. Bay Shipbuilding Company: Large Facility with Dependable History 52 Acres (about 210,437 sqm) 600 Hourly Workers 100-400 Subcontracted Workers 100 Salaried Preferred Facility for the Repair Business on the Great Lakes Strong capacity for new hull construction: 1154’ x 140’ Graving Dock 200 Ton Gantry Crane 650’ Floating Dock

8. New Ship Construction New Tug/Barge Combinations Leader on Great Lakes for Large Vessel repairs and conversions ABOUT BAY SHIPBUILDING COMPANY BAY SHIPBUILDING THE GREAT LAKES MOST EXPERIENCED SHIPYARD

9. UPCOMING DELIVERY DATES Hull No.CustomerVessel TypeSizeDelivery Date 3774Moran150K BBL Double Hull Tank Barge491' x 78' x 41'05/01/15 3775Moran110K BBL Double Hull Tank Barge468' x 78' x 34'05/16/16 3776Moran5,300 HP Tug121' x 36' x 18'05/16/16 3777Moran150K BBL Double Hull Tank Barge491' x 78' x 41'09/25/15 3778Moran6,000 HP Tug121' x 36' x 18'09/25/15 3779Kirby155K BBL Oil & Chemical Tank Barge521' x 72' x 41'09/30/16 3780Kirby6,000 HP ATB Tug123' x 38' x 22'09/30/16 3781Kirby155K BBL Oil & Chemical Tank Barge521' x 72' x 41'06/30/17 3782Kirby6,000 HP ATB Tug123' x 38' x 22'06/30/17

10. BAY SHIPBUILDING COMPANY: RECENT CAPITAL INVESTMENT New Pipe/Outfitting Building & new Welding Center New Floating Dry Dock: 216’ section plus 432’ section, Operates individually or combined, 7,000 LT Lift Fabrication Building 311 Expansion: complete Purchased and operational: –New Beveling Plasma Burning Machine –New 200 ton Yard Transporter –New IMG Micro Panel Line –New 1000 ton CNC Press Facilities Upgrades, Infrastructure Yard Improvements & Purchased Production Equipment in 2012: Other minor

11. BSC CURRENT FACILITY

12. BURN, CUT AND PANEL FABRICATION Plasma NC Plate Cutting 3 Axis Capability for Cutting Bevels Paneline Produces a 40’ x 50’ Panel Each Shift Micro Panel Line for Smaller Panels Two NC Saws for Cutting Profiles Barge Fabrication 1,000 Tons per Month Supply/Support Vessels Fabrication 500 tons per Month.

13. SUB ASSEMBLY IN SHOP

14. FABRICATION AND PRE-OUTFITTING IN SHOP Units Fabricated & Pre Outfitted in Shop 175 ton Transport PC- 7 BOW Unit to Docks for Erection

15. TRANSPORTATION TO ERECTION

16. ERECTION IN GRAVING DOCK Graving Dock Used for Erection of Hull Complete Outfit and Paint Before Erect When Possible Units Staged for Erect

17. BREAKDOWN BY COMMODITY CategoryDescription 9/2013 - 9/2014 Percent of Total 5050 MAJOR EQUIP AND MACHINERY 36.07% 1111 STEEL PLATE 16.34% 5151 PURCHASED SERVICES 14.56% 1212 STEEL SHAPE 4.32% 4141 PAINT AND PROTCTIVE COATING 3.46% 5252 OUTSOURCED SERVICES 3.22% 4343 HULL AND DECK FITTINGS 2.78% 3737 ELECT CONTROLS AND EQUIP 2.70% 3131 PIPE AND TUBING 2.19% 3434 PIPE FITTINGS 1.99% 3333 VALVES 1.92% 3636 ELECT FTGS COND AND FIXTURE 1.86% 3535 ELECTRIC CABLE 1.57% 2727 PPE 0.89% 1414 CASTING 0.86% 9999 ALL OVERHEAD 0.84% 5656 LEASED PROD FCLTY AND EQUIP 0.80% 2626 TOOLS HAND AND POWER 0.74%

18. BREAKDOWN BY COMMODITY CategoryDescription 9/2013 - 9/2014 Percent of Total 2626 TOOLS HAND AND POWER 0.74% 4444 NONMETALLIC MATERIALS 0.72% 2323 FASTENING AND HARDWARE 0.51% 1616 SHAFTING 0.44% 2424 BRGS BUSHINGS AND ALIGN MTL 0.24% 3232 HOSE AND FITTINGS 0.21% 5553 PRCHSD PATTERNS JIGS DIES 0.14% 2525 CHAIN BELT ROPE AND WIRE 0.13% 2020 SANDBLASTING MTL AND EQUIP 0.12% 4545 INSULATION AND SUPPLIES 0.12% 1717 SHEET METAL 0.10% 4242 WOOD PRODUCTS 0.08% 1313 NONFERROUS METAL 0.03% 7070 UT TEST SERVICES 0.03% 1818 GRATING AND EXPANDED METAL 0.03% 2222 GASES 0.01% 100.00%

19. LOCAL BUSINESS PARTNERS VendorLocation Advance Boiler & Tank Co LLCWest Allis,WI 53214 Advanced Pest Control IISturgeon Bay,WI 54235 Algoma Lumber Company IncAlgoma,WI 54201 Allied Insulation Supply Co IncMilwaukee,WI 53201-2122 All-Lift Systems Inc.Appleton,WI 54914 Allstates Rigging IncTwo Rivers,WI 54241 American State Equipment Co IncMilwaukee,WI 53227 Analytichem LLCLuxemburg,WI 54217 Anderson LabsGreen Dale,WI 53129 Appleton Compressor Service & Supply Co.Appleton,WI 54912-1406 Appleton Packing & GasketAppleton,WI 54912-1953 ARMS IncDe Pere,WI 54115 Babler Bus Service IncSturgeon Bay,WI 54235 Badger Mill Supply Corp.Oshkosh,WI 54902 Badger Office CityManitowoc,WI 54220 Badger Roll & MachineAppleton,WI 54912-1955 Badger Scaffold IncGreen Bay,WI 54304 Bahcall Rubber CompanyKaukauna,WI 54130 Bassett IncKaukauna,WI 54130

20. LOCAL BUSINESS PARTNERS VendorLocation Bay Electronics IncSturgeon Bay,WI 54235 Bay Engineering IncSturgeon Bay,WI 54235 Bayland Buildings IncGreen Bay,WI 54307-3571 Belson CompanyGreen Bay,WI 54307-0477 Be's Coffee and Vending ServicesGreen Bay,WI 54304 Bissen Asphalt LLCSturgeon Bay,WI 54235 Bobcat Plus IncOconomowoc,WI 53066-7209 Brabazan Pump Compressor & VacuumGreen Bay,WI 54307-0827 Captain Commode IncSturgeon Bay,WI 54235 Cellcom Wisconsin RSA 10DePere,WI 54115-7054 Chief Liquid Waste IncWinneconne,WI 54986 Custom Metal Specialists IncOconto Falls,WI 54154 Dawes Rigging & Crane Rental IncMilwaukee,WI 53214-7080 Door DetailSturgeon Bay,WI 54235 Econo FoodsSturgeon Bay,WI 54235 Endries InternationalChicago,IL 60693 Epic Minerals LLCBrookfield,WI 53045 Evenson Laundry & Cleaners IncSturgeon Bay,WI 54235-0053 Faith Technologies IncMenasha,WI 54952-0260 Fortress FenceGreen Bay,WI 54313 FourinoxGreen Bay,WI 54304

21. LOCAL BUSINESS PARTNERS VendorLocation Great Lakes Roofing CorporationGermantown,WI 53022 Great Lakes Testing IncGreen Bay,WI 54304 Hi Tec FabricationSturgeon Bay,WI 54235 Hill Building MaintenanceSturgeon Bay,WI 54235 Ideal Crane Rental IncMadison,WI 53704 J F Ahern Co.Fond Du Lac,WI 54936-0470 J Jadin IncLuxemburg,WI 54217 Jeanquart Holdings LLCSturgeon Bay,WI 54235 Jim's Golf Cars IncReedsville,WI 54230 Johnson Brass & Machine Foundry IncMilwaukee,WI 53278-0756 Just In Time CorporationSturgeon Bay,WI 54235 Kahlenberg Bros CoTwo Rivers,WI 54241 Keith Olson TruckingSturgeon Bay,54235 54235 Kinetic Equipment IncAppleton,WI 54914 KJP Fab and Weld LLCLuxemburg,WI 54217 L & S Electric IncSchofield,WI 54476-0740 L W Allen IncMadison,WI 53716 LaForce IncGreen Bay,WI 54307 Lampert Yards IncSturgeon Bay,WI 54235

22. LOCAL BUSINESS PARTNERS VendorLocation LaserForm LLCGreen Bay,WI 54304 Lily Bay Sand and Gravel LLCSturgeon Bay,WI 54235 Lincoln Contractors Supply IncMilwaukee,WI 53227 Longvans IncMadison,WI 53744-4719 M E Dey & Co IncMilwaukee,WI 53204 Mac's Hydraulics IncGreen Bay,WI 54311 Malvetz Furniture & Floor Covering IncSturgeon Bay,WI 54235 Marine Automated System Technologies LLCSchofield,WI 54476 Marine Travelift IncSturgeon Bay,WI 54235-1976 Marshall Erecting IncMilwaukee,WI 53221 Max Weiss Co LLCMilwaukee,WI 53224 MBM Leasing CompanyAppleton,WI 54912-0147 Mead & Hunt IncGreen Bay,WI 54313 Modern Business MachinesAppleton,WI 54912-0147 New Tech MetalsNew Franken,WI 54229 North East Wisconsin Technical CollegeMarinette,WI 54143 Olson Fabrication IncAlgoma,WI 54201 Port and Starboard LLCSturgeon Bay,WI 54235 Precision Machine IncAlgoma,WI 54201 Premier Concrete IncAppleton,WI 54912-2878 Promotional Designs IncGreen Bay,WI 54304 Quietwood RV Sales & ServicesSturgeon Bay,WI 54235 Robinson Brothers Environmental IncWaunakee,WI 53597

23. LOCAL BUSINESS PARTNERS VendorLocation Scot Forge CoMilwaukee,WI 53288-0085 Selvick Marine Towing CorpSturgeon Bay,WI 54235 Servco FS CooperativeAntigo,WI 54409 Service Motor CoDale,WI 54931-0170 Sherwin Williams CompanySturgeon Bay,WI 54235-2996 SMET Construction Services CorpGreen Bay, WI 54303 Soil Specialists LtdSturgeon Bay,WI 54235-1628 Storage Systems Midwest IncWaukesha,WI 53188-1137 TBC MetalworksGreen Bay,WI 54302 TPS Consulting Engineers LtdGreen Bay,WI 54307 TR Cochart Tire CenterSturgeon Bay,WI 54235 Transmotion LLCDePere,WI 54115 Turriff Plumbing IncDePere,WI 54115 Valley Plating & FabricatingGreen Bay,WI 54307-1206 Van Ert Electric Company IncWausau,WI 54401-9230 Vanderloop's Shoes IncLittle Chute,WI 54140 Van's Fire & SafetyGreen Bay,WI 54307-2055 Werner Electric Supply CompanyMilwaukee,WI 53201 Westy's Logistics LLCOconto,WI 54153 Wolter Engraving ServiceSturgeon Bay,WI 54235 Zorn Compressor & Equipment IncPewaukee, WI 53072