Slide 1: Fourth Quarter 2024 Earnings Conference Call
Noble Corporation plc Fourth Quarter 2024 Earnings Conference Call February 18, 2025
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer Forward-Looking Statements This communication includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, as amended. All statements other than statements of historical facts included in this communication are forward
Slide 3: Summary
Summary Robust Return of Capital Program $50M in Q4 buybacks ($300M in 2024), >6% dividend yield Q4 Adjusted EBITDA of $319M Integration progressing well with over 50% of synergies realized on a run-rate basis Approximately $525M in New Contracts Since Last Quarter Venturer, Developer, Globetrotter
Slide 4: Fourth Quarter Financial Highlights
Fourth Quarter Financial Highlights Capital expenditures, net of insurance Adjusted EBITDA Adjusted EBITDA margin Free cash flow proceeds $319M 34% $134M $2M $291M 36% $165M $119M Net debt Leverage Backlog Liquidity $1,733M 1.4x $773M $5.8B $1,590M 1.4x $6.2B $918M Prior quarter figures for Q3 2024
Slide 5: Current Backlog Stands at $5.8 Billion
Current Backlog Stands at $5.8 Billion Backlog ($B) and Contract Coverage 58% 37% 21% 9% 2.4 Floaters Jackups 1.9 1.0 0.5 2025 2026 2027 2028 Percentage of available days committed1 1) Committed days on total marketed fleet of 38 rigs, excluding two retired rigs, per 2/17/2025 fleet status report 2)
Slide 6: Drillship Fleet Overview
Drillship Fleet Overview 2024 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Noble Faye Kozack (7g dual BOP) Recent Highlights Noble Stanley Lafosse (7g dual BOP) Noble Valiant (7g dual BOP) • Venturer: six wells (est 360 days) with Tullow Noble Venturer (7g dual BOP) in Ghana. Noble Viking (7g) • Ge
Slide 7: Semisubmersible Fleet Overview
Semisubmersible Fleet Overview 2024 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Noble Deliverer (6g) Recent Highlights Noble Developer (6g) • Developer: three wells (est 200 days) Noble Discoverer (6g) with Petronas in Suriname plus one- Ocean GreatWhite (HE 6g) well option. 180 days with Shell in
Slide 8: Jackup Fleet Overview
Jackup Fleet Overview 2024 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 ULTRA HARSH ENVIRONMENT Recent Highlights Noble Innovator (CJ70) • Innovator: 200 days with bp in U.K. Noble Integrator (CJ70) North Sea Noble Interceptor (CJ70) Noble Intrepid (CJ70) Noble Invincible (CJ70) HARSH ENVIRONMENT N
Slide 9: Financial Overview
Financial Overview ($ millions) Quarter End Quarter End 12/31/2024 9/30/2024 Revenue 927 801 Adjusted EBITDA 319 291 margin % 34% 36% Net Income 97 61 Diluted EPS 0.59 0.40 Cash flow from operations 136 284 Cash paid for capital expenditures, net of proceeds 134 119 from insurance claims Free cash f
Slide 10: Full Year 2025 Guidance
Full Year 2025 Guidance $ millions Revenue 3,250 – 3,450 Adjusted EBITDA 1,050 – 1,150 Capital Expenditures, net of reimbursements 375 – 425 10
Slide 11: Appendix: Reconciliation to GAAP Measures
Appendix: Reconciliation to GAAP Measures Reconciliation of Adjusted EBITDA Three Months Ended Twelve Months Ended December 31, 2024 September 30, 2024 December 31, 2024 Net income (loss) $ 96,648 $ 61,216 $ 448,353 Income tax (benefit) provision 27,814 31,608 43,981 Interest expense, net of amounts
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