Royal Vopak N : Analyst Presentation Q1 2021

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Vopak Interim Update Q1 2021 - Analyst Presentation

Gerard Paulides - CFO of Royal Vopak

Forward-looking statement

This presentation contains 'forward-looking statements', based on currently available plans and forecasts. By

their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future, and Vopak cannot guarantee the accuracy and completeness of forward-looking statements.

These risks and uncertainties include, but are not limited to, factors affecting the realization of ambitions and financial expectations, developments regarding the potential capital raising, exceptional income and expense items, operational developments and trading conditions, economic, political and foreign exchange developments and changes to IFRS reporting rules.

Vopak's outlook does not represent a forecast or any expectation of future results or financial performance.

Statements of a forward-looking nature issued by the company must always be assessed in the context of the events, risks and uncertainties of the markets and environments in which Vopak operates. These factors could lead to actual results being materially different from those expected, and Vopak does not undertake to publicly update or revise any of these forward-looking statements.

Vopak Q1 2021 - Analyst presentation 2

Key messages Q1 2021

• Start of the year impacted by the Texas winter storm - full year growth project contribution improved to high end of the outlook range
• Cost efficiency measures are progressing well and tracking below our cost outlook of EUR 615 million for the year
• Strategy execution - good progress with greenfield industrial terminals construction in Qinzhou (China) and Corpus Christi (US Gulf Coast)

EBITDA*		Proportional		EPS*		Terminal network
In EUR million		Occupancy rate		In EUR		In million cbm
		in percent
200		89		0.58		35.7

* Excluding exceptional items and including net result from joint ventures and associates

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Q1 2021 vs Q4 2020 EBITDA

Start of the year impacted by the Texas winter storm - full year growth project contribution improved to high end of the outlook range

				0.1	0.4	1.6	4.5
							200.4
			16.5
188.8	1.7	190.5
Q4 2020	FX-effect	Adjusted	Asia &	LNG	China &	Europe &	Americas	Global	Q1 2021
		Q4 2020	Middle East		North Asia	Africa		functions,
								corporate
								activities
								and others

Figures in EUR million, excluding exceptional items including net result from joint ventures and associates

Vopak Q1 2021 - Analyst presentation 4

Divisional performance

Americas impacted by Texas winter storm; Asia & ME normalized PT2SB performance; Europe & Africa less rented capacity; China and LNG resilient

Americas				Asia & Middle East			China & North Asia
	93	94	93		90	92	92	90	88	86	89	92	90	87
87	90

47.6	48.7	44.9	47.2	42.4	78.0	77.1	70.0	51.5	69.5	13.8	13.7	13.9	15.5	15.2

Q1	Q2	Q3	Q4	Q1	Q1	Q2	Q3	Q4	Q1	Q1	Q2	Q3	Q4	Q1
2020	2020	2020	2020	2021	2020	2020	2020	2020	2021	2020	2020	2020	2020	2021

Europe & Africa				LNG
82	88	91	91	88	97	97	97	97	97
																Proportional occupancy rate (in percent)
60.7	64.8	73.2	76.4		75.2	12.6										EBITDA (in EUR million) excluding exceptional
	9.4	10.2	10.4		10.4
																items and including net result from joint ventures
Q1	Q2	Q3	Q4		Q1	Q1	Q2	Q3	Q4		Q1		and associates and currency effects
2020	2020	2020	2020	2021	2020	2020	2020	2020	2021

Vopak Q1 2021 - Analyst presentation 5