Dolphin Drilling (DDRIL) Pareto Securities' 33rd Annual Energy Conference presentation summary

Operational experience and market presence

• Over 50 years of offshore drilling experience with licenses in major offshore basins, including the North Sea and Brazil.

• Recognized for a diversified operational history across semi-submersibles, drillships, and jackups.

• All three rigs are contracted, ensuring firm revenue streams.

• Established reputation among clients in key offshore markets.

Financial performance and contract backlog

• Secured a firm contract backlog of $557 million, with an additional $446 million in priced options.

• Key rigs are contracted through to 2030 and 2031, with five-year options available.

• Year-to-date EBITDA improved to $15.3 million, reflecting enhanced cost efficiency.

• Cash position strengthened to $55.1 million, supporting growth readiness.

Safety, operational reliability, and growth strategy

• Achieved 1,000 days LTI-free and maintains a TRIR better than industry average.

• Consistent operations with 95% uptime across the fleet.

• Focused on extending contract backlog, addressing 2026 financing, and reducing structural costs.

• Positioned for fleet growth and the next phase of expansion.