Broström Q2 Presentation 2008Lennart Simonsson, CEOAnders Dreijer, Deputy MD

27 August 2008

Q2 Report 2008

Sida 2

Agenda

• Welcome!

• Q2 2008 in words

• Q2 2008 in figures

• Fleet development

• Market trends

• Summary and Outlook 2008

27 August 2008

Q2 Report 2008

Sida 3

Q1 in words

• Volatile and weak freight market during most of the second quarter 2008

– European traffic experienced a weak start to the second quarter, which ended with an improvement primarily for large tonnage.

– Atlantic traffic basically followed the same market pattern as European traffic.

– For large tonnage in Asian traffic, the freight market was relatively weak during essentially the entire second quarter.

– Small tonnage in Asian traffic had continued stable development.

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Q2 Report 2008

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Q1 in words

• Change in transport capacity during the second quarter

– The BRO ERIK (37,000 dwt) was delivered to Broström's partner in May 2008.

– The CPO FRANCE and the CPO SWEDEN (both 37,000 dwt) were delivered to Broström's partner Claus-Peter Offen. The vessels are now trading in Broström’s European sector.

– The EXCELLO (19,500 dwt) was delivered to Broström's partner Donsötank and is now operating in Broström’s European sector.

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Q2 Report 2008

Sida 5

Income Statement

April-June Jan-June2008 2007 SEK m 2008 2007

912 915 Net sales 1 784 1 841214 400 EBITDA 369 701117 302 EBIT 176 520

73 247 Profit after financial items 75 41966 107 - of which dissolution of neg goodwill and capital gains 66 10971 236 Net profit 77 386

1.12 3.60 Earnings per share, SEK 1.21 5.86

ROCE 4.9% 15.5%Cash flow/share 3.24 8.75

Dividends paid 191 258Repurchases of treasury shares 12 85

Free cash, end of period 703 993

*) from operatings activities before dividends

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Q2 Report 2008

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Broström – a global logistics company

66 vessels in European trade

23 vessels in Asia

9 vessels in the Atlantic

98 vessels

+ 7 vessels to be added within next 12 months

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Fleet Growth

Acquired and newly delivered vessels in 2008

Name Built Dwt Owner-

Ship * Partner

BRO ANNA 2008 17,000 100%

BRO AGNES 2008 17,000 100%

CPO FRANCE 2008 37,000 C/M Offen

CPO SWEDEN 2008 37,000 C/M Offen

GAN-SABRE 2008 51,000 C/M Dünya

EXCELLO 2008 19,500 C/M Donsötank

C/M = Commercial Management

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Q2 Report 2008

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Fleet Growth

Newbuildings on order on 30 June 2008

Name Delivery Dwt Ownership Partner

BRO ALMA 2008 17,000 100%

GAN-SKY 2009 17,000 C/M Dünya

CPO GERMANY 2008 37,000 C/M Offen

CPO NORWAY 2008 37,000 C/M Offen

CPO RUSSIA 2008 37,000 C/M Offen

CPO ITALY 2008 37,000 C/M Offen

CPO FINLAND 2008 37,000 C/M Offen

CPO ENGLAND 2008 37,000 C/M Offen

NB 386 2009 7,500 50% Thun

NB 387 2009 7,500 50% Thun

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Q2 Report 2008

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Broström’s Market Segments

SMALL 13 vessels 4 vessels = 17 vessels5,000 - 10,000 dwt incl 2 NB incl 2 NB

INTERMEDIATE 43 vessels 5 vessels = 48 vessels10,000-30,000 dwt incl 1 NB incl 1 NB

HANDY/MR 9 vessels 17 vessels 14 vessels = 40 vessels30,000-60,000 dwt incl 4 NB incl 4 NB

ATLANTIC EUROPE ASIA PACIFIC

= 9 vessels = 73 vessels = 23 vesselsincl 7 NB

A total of 105 vessels incl 7 newbuildings

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Market Trends

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Oil Price

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Q2 Report 2008

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US Gasoline Stocks

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Spot Market Earnings

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US market impact from high oil prices

• Miles driven in the US has declined with year-on-year negative growth in 2007/2008

• A contraction in miles driven has historically not been seen even during recessions (1990/1991 and 2001/2002)

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US market impact from high oil prices

• Less gasoline purchased as prices increase in the US market

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Developments in Global consumption of oil

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2,0%

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2004 2005 2006 2007 2008 est 2009 est 2010 est 2011 est 2012 est

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Annual fleet change (%) Total million dwtSource: Clarkson May 2008

World Tanker Fleet Development (<60 kdwt)

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Q2 Report 2008

Sida 18

Surplus value of the Broström fleet

• Market valuation of

– Existing vessels

– Newbuilding contracts

• Average based on two external brokers

• As per 30 June 2008 the market value exceeded book value by approximately SEK 2.3 billion

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Q2 Report 2008

Sida 19

Outlook 2008

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Q2 Report 2008

Sida 20

Outlook 2008

• The market improvement – primarily for large tonnage – that took place at the end of the second quarter continued into the third quarter of 2008.

• Broström's strategic position for 2008 and onward has been strengthened through acquisitions and investments made in recent years.

• The trend in transport for the years immediately ahead in Broström's market segment is currently difficult to judge.

• A large volume of new tonnage will be added to the market.

• The high price of oil has brought about a greater urgency to reduce dependency on oil and growth forecasts for oil consumption have been adjusted downward.

• Broström believes that major fluctuations will take place from period to period in both transport volume and freight rates.