ABOUT US Headquartered in Bergen, Norway, The Westfal-Larsen group is a family-owned maritime transportation company that can trace its roots back to 1905. The ultimate holding company is Skibsaktieselskapet Navigation Co. Ltd., which is privately owned by members of the Westfal-Larsen family through various holding companies. The Westfal-Larsen group is involved in transportation of chemicals by sea, specialised dry bulk shipping activities (open hatch), real estate, retail, and technology. The main business activities are in the chemical transportation and the specialised dry cargo shipping segments. CHEMICAL TRANSPORTATION Westfal-Larsen & Co. AS and Welco Eco Ship AS are the shipowners in the chemical transportation division of the Westfal-Larsen group and currently own eight chemical tankers. DRY CARGO CARRIERS Masterbulk AS is the owner as well as disponent owner of a fleet of 16 open hatch specialised dry cargo carriers that operate in the Saga Welco pool which is one of the largest players in that segment. TECHNICAL MANAGEMENT Westfal-Larsen Management AS is the technical manager of all our chemical tankers and has the responsibility for the technical management of our 16 dry cargo carriers. The technical management for 8 of the vessels are subcontracted to Zeaborn Ship Management (Singapore) Pte. Ltd., whilst the remaining 8 are managed from Westfal-Larsen Management AS in Bergen. COMMERCIAL MANAGEMENT Westchart AS is the commercial management company in the chemical tanker segment. REAL ESTATE J. Berstad Eiendom AS is engaged in commercial property investment, development and letting. TECHNOLOGY Primozone Production AB develops, produces and sells ozone generators for water treatment. RETAIL Wallendahl AS is a retail store specializing in hardware, kitchen & home ware, garden equipment and tools. GROUP ADMINISTRATIVE RESOURCES Westfal-Larsen Group Resources AS is a resource centre for all the companies within the Westfal-Larsen group, providing general management, accounting and other services. CONTACT Call Us +47 55 30 34 00 post@wlco.no Fabrikkgaten 6, 5059 Bergen, Norway P.O. Box 1192, Sentrum, 5811 Bergen, Norway ADDITIONAL LINKS Log in Citrix Data Protection Privacy Statement

SKIBSAKTIESELSKAPET NAVIGATION Skibsaktieselskapet Navigation Co. Ltd. is the holding company of all the activities within the Westfal-Larsen group and is still owned by the founder’s direct descendants. The Group Board consists of representatives of the shareholders. Today, the Westfal-Larsen group is involved in property investments, retail and technology, alongside its core business, maritime transportation. Ulrich Müller Group CEO CONTACT Call Us +47 55 30 34 00 post@wlco.no Fabrikkgaten 6, 5059 Bergen, Norway P.O. Box 1192, Sentrum, 5811 Bergen, Norway ADDITIONAL LINKS Log in Citrix Data Protection Privacy Statement