Fjord Defence Group Asa · OSL:DFENS

Fjord Defence Group Asa — Aquila Holdings — Q2 2024 Earnings Presentation

13 slides from Fjord Defence Group Asa's earnings presentation, Aug 22, 2024

  1. Slide 1: Q2 2024

    Q2 2024 22 August 2024

  2. Slide 2: Disclaimer

    » page 2 Disclaimer + The information in this presentation has been prepared by Aquila Holdings ASA (the *Company’). By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations and provisions: + This presentation

  3. Slide 3: Quarterly highlights

    Quarterly highlights e = Multi-client revenues USD 0.8 million e Fair value of multi-client library USD 27.9 million e Fair value of investment portfolio USD 6.6 million e — Available liquid funds of USD 8.2 million* ¢ — Cash earnings (loss) for the quarter (USD 0.6) million** e Net asset value NOK

  4. Slide 4: Subsequent events

    Subsequent events e Annual general meeting on 23 May 2024 resolved to delete 5,069,150 shares that have been bought back by the Company under a buy-back program e The share capital decrease pertaining to the deletion of such shares has been registered; new share capital NOK 234,690,967 divided on 23

  5. Slide 5: Utsira North Sea and Gulf of Suez

    Utsira North Sea Gulf of Suez • Sett inn bilde Sett inn bilde • • • • • USD 22.6m USD 5.3m

  6. Slide 6: Financial assets

    Financial assets e Ocean bottom node operations sold to TGS (Magseis Fairfield) in March 2022 e Earnout structure with cap of USD 12.0 million over three years e = Year-three floor payment of USD 1.5 million, subject to certain milestones e No associated costs for Aquila ¢ Booked value of financial

  7. Slide 7: Selected investments in listed and unlisted securities

    e Selected investments in listed and unlisted securities e Fair value of investment portfolio USD 6.6 million at end Q2 2024 * —Capsol Technologies USD 5.8 million Dolphin Drilling USD 0.5 million U capsol ma technologies DOLPHIN DRILLING

  8. Slide 8: Net asset value

    Lad page 8 Net asset value Net Asset Value per Share (NOK) e Multi-client library valued at NOK 1.36 per share 2 013 (book value USD 27.9 million) | —=_. * Other seismic assets NOK 0.10 per share (book =” 136 — value USD 2.0 million) e Investments based on market trading prices constituting NOK 0.32

  9. Slide 9: Comprehensive income

    Comprehensive income USD millions Comprehensive income Q2 2024 Q2 2023 Revenue 08 15 Changes in fair value of investments (loss) 0.8 (17) Cost of sales (1.0) (1.2) Selling, general and administrative expenses (0.3) (0.5) Amortization multi-client (1.6) (1.6) Operating profit (loss) (1.4) (3.4) Net f

  10. Slide 10: Financial position

    Financial position USD millions Assets 30.06.2024 31.12.2023 Multi-client library 27.9 31.1 Investments 66 6.6 Financial assets 2.0 2.0 Trade receivables - 1 Other current assets OF 13 Bank deposits, cash in hand 19 2.0 Total assets 39.2 43.9 Equity and Liabilities 30.06.2024 31.12.2023 Equity 34.4

  11. Slide 11: Cash flow

    » page 11 USD millions Cash flow Q2 2024 Q2 2023 Profit (loss) before tax (1.4) (3.7) Depreciation, amortization and net impairment 1.6 1.6 Changes in fair value of investments (0.8) 17 Other working capital changes 0.6 (0.5) Cash flow from operating activities 0.0 (0.9) Cash received/paid from inve

  12. Slide 12: Outlook

    Outlook e Oil prices to stay in the higher historical range as demand continues to grow e Exploration activity will continue - both near-field as well as new prospects ¢ Economic uncertainty in Egypt remains, but situation appears to be improving; should benefit Gulf of Suez survey e Multi-client la

  13. Slide 13: Askekroken aquilaholdings.no

    Askekroken 11 aquilaholdings.no 0277 Oslo copyright © 2023 Norway Aquila Holdings OBN multi-client library and investments.

Aquila Holdings — Q2 2024 Earnings Presentation on 6ix