Hunting Plc · LSE:HTG
Hunting — Pareto Energy Conference 2025
24 slides from Hunting's conference presentation, September 2025
Slide 1: Hunting Subsea Technologies – Pareto Energy Conference
HUNTING SUBSEA TECHNOLOGIES PARETO ENERGY CONFERENCE SEPTEMBER 2025
Slide 2: Hunting PLC's investment case
Hunting PLC’s investment case is based on technology and precision engineering core competencies, along with a deep knowledge of the global energy and advanced manufacturing industries. Our strategy and expertise will drive long-term growth, providing leverage to deliver our value proposition into n
Slide 3: Over 400 patents and trademarks across key technologies
PERFORATING SYSTEMS SUBSEA OCTG AMG ENERGY TRANSITION Over 400 patents and trademarks across key technologies and geographies Strong R&D focus on differentiating problem-solving products Competitive edge created with industry exclusive products and technologies Market leadership and name recognition
Slide 4: Hunting's Strategic Pillars
HUNTING’S STRATEGIC PILLARS $2bn revenue p.a. $250m of Subsea EBITDA margins EBITDA to free by 2030 revenue p.a. of 15% cash flow of 50% or greater Target of 15% Cumulative FCF Dividend increase $40m share ROCE of $750m of at least 13% buyback p.a. 4
Slide 5: Acquisitions, investments and disposals timeline
Acquisition: Acquisition: Investment: Investment: Acquisition: Acquisition: RTI Energy Enpro Subsea Cumberland Additive OCTG JV with Organic Oil Flexible Eng. Systems (Spring) Holdings LLC Jindal SAW Ltd (India) Recovery Solutions US$12.5m US$33.3m US$5.1m US$1.9m plus assets US$18.2m US$64.0m 2019
Slide 6: Product overview
OCTG PRO DUCT IO N ADVANCED MANUFACTURING SUBSEA – FLUID HANDLING SUBSEA – PRODUCTION WELL INTERVENTION SUBSEA ENHANCED OIL SUBSEA - ENPRO ENHANCEMENT RECOVERY PERFORATING SUBSEA – SURF TSJ SUBSEA – VALVES AND COUPLINGS • Multiple intervention opportunities across production life cycle FIRST O IL T
Slide 7: Subsea tree demand and FPSO awards
Subsea tree demand 42 350 333 327 300 309 306 expected FPSO awards, 2026 - 2030 No. of awards 250 200 Source: 150 168 Rystad Energy Global FPSO Report 2Q 2025 100 50 0 Dramatic increase in subsea tree demand 2025 2026 2027 2028 2029 XMTs (# Awarded) Majors leading FPSO investment Source: Rystad Ener
Slide 8: Subsea product and service offering
Fluid Handling, Marine & Subsea Services • Turret Systems Subsea Intervention & • Fluid Transfer Swivels Decommissioning Services • Pressure Balanced Weak Links • Hydraulic Intervention SURF Technology • Hydraulic / Electric / Fiber Optic Stab Plates • Decommissioning Tooling • Titanium Stress Joint
Slide 9: SURF Fluid Handling and Distribution
SURF Fluid Handling and Distribution Increase subsea component touchpoints to align to strong industry outlook Intervention and Production Connect existing component supply from ocean surface to sea floor Enhancement Create cross selling and bundling opportunities as client simply supply chains Deco
Slide 10: Stafford, Spring, Enpro
Stafford Spring Enpro FES deployed systems Organic Oil Recovery 10
Slide 11: Titanium Stress Joints
• Sole supplier of TSJs for offshore riser applications with 28-year track record of success. • Eliminate HSE risk and cost associated with personnel near the splash zone during installation and periodic inspections. • Simplified installation method, reduced opex concerns. • Unique material properti
Slide 12: Diverless bend stiffener connectors
• FES is a market leading supplier of API17L1-certified diverless bend stiffener connectors for umbilical, flexible pipe, and power cable applications. • Patented automatic end fitting release system allows for connection of the bend stiffener and release of the riser/umbilical/cable without subsea
Slide 13: Flow access module – FAM
Proprietary Technology Flow access module – FAM Faster, lower cost Subsea tiebacks Complements standard Subsea Production System Hardware enabling project specific technologies Defer capex No need to commit to technology on day one Removes long lead technology off critical path Growing Success De-ri
Slide 14: Hydraulic couplings, structures, valves and hot stabs
HYDRAULIC COUPLINGS SUTA, UTH AND OTHER STRUCTURES • Designed/Manufactured first radial metal-seal coupling • Design and manufacture to Hunting or customer • 50 years of manufacturing experience specifications • Over 300 patents in coupling technology awarded for metal- • Steel structural fabricatio
Slide 15: Subsea intervention: acceptance, low cost, carbon reduction
Acceptance Leads to Success • Completion of recent intervention campaign in Guyana is opening doors to other West Africa opportunities • Contracting with leading in-well intervention companies to fill a void in their service offering creates new opportunities to capture intervention business Low-Cos
Slide 16: Decommissioning solutions
Environmental Protection Unique Solution Patented Anchor Hub 100% Market share for Attic Oil Recovery application Compact Design Simplicity Ability to operate from smaller lower cost vessels Pumping and monitoring solutions with minimal deployed equip 16
Slide 17: Enhanced Oil Recovery
Enhanced Oil Recovery 17
Slide 18: Patented microbial enhanced oil recovery technology
• Patented Microbial based enhanced oil recovery technology • Oil micro-droplet formation is the release mechanism • Enables micro-oil droplets to flow out of microscopic reservoir rock pore spaces • Significant reduction in H2S Key Oil / Droplet OOR nutrients flow with injected water 18
Slide 19: OOR treatment oil production results
~WC%: 82% ~WC%: 80% 102 bbl/d – 155% 120 100% Water Cut 90% 100 80% 70% 80 Oil Production (bbl/d) OOR Treatment OOR Treatment 60% Water Cut (%) 60 50% 40 bbl/d - 344% 40% 40 ~WC%: 64% 30% 20% 20 9 bbl/d Original Production 10% 0 0% Overall increase in oil production - 1,033% 19
Slide 20: H2S reduction in reservoirs
Micrograph of general bacterial rods PROVEN TO REDUCE H2S IN A RESERVOIR BY AS MUCH AS 50% WITHIN THE FIRST 6 MONTHS. Micrograph of typical sulphate reducing bacteria 20
Slide 21: OOR contracts and pilot testing
• $60 million of contracts secured for licensed OOR technology in August 2024 for deployment in North Sea over the next five years. • Good gross margins attached to technology and revenue. • Pilot testing continuing in Europe, US and Southeast Asia, with multiple blue-chip clients. Upcoming markets
Slide 22: Revenue by Stafford, Spring, Enpro and FES
Stafford revenue – $m Spring revenue – $m 50 90 45 80 47 82 40 70 42 35 60 30 34 50 25 30 40 49 20 30 15 20 25 10 22 5 10 - - 2021 2022 2023 2024 2021 2022 2023 2024 Enpro revenue – $m FES revenue – $m 25 60 20 22 50 56 40 15 40 30 10 31 10 20 5 7 7 18 10 - - 2021 2022 2023 2024 2021 2022 2023 2024
Slide 23: Subsea strategy being executed toward 2030
Subsea strategy being executed to delivery 2030 strategic ambition Titanium and steel joint offering seeing leverage with supermajors FES acquisition providing broadened product offering and sales bundling opportunities Organic oil recovery positioned as high growth gaming changing technology for th
Slide 24: Questions & Answers
STRATEGIC PROGRESS AND OPERATIONAL DELIVERY