Arabian Drilling Co. · TADAWUL:2381
Arabian Drilling — H1 2026 Earnings Presentation
18 slides from Arabian Drilling's earnings presentation, Aug 11, 2026
Slide 1: Q2 / H1 2026 Earnings Call
Q2 / H1 2026 EARNINGS CALL 11 August 2026 15:00 PM KSA
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Arabian Drilling (the “Company” or “AD”) based on publicly available information and non-public information to assist you in making a preliminary analysis of the content referenced herein solely for informational purposes. It should not be construed
Slide 3: In Today's Presentation
In Today’s Presentation Fahad Albani Farid Mustafayev Raed Almaharmeh Chief Executive Officer Chief Financial Officer Investor Relations Manager Fahad brings nearly 30 years of upstream Farid brings over 24 years of global corporate Raed brings over 25 years of international experience experience in
Slide 4: Q2 2026 Financial Highlights (Versus Q1 2026)
Q2 2026 Financial Highlights (Versus Q1 2026) 765 M 251 M 32.8 % Revenue, -6.9% EBITDA, -13.3% EBITDA Margin, -2.4ppts -31.5 M 243 M 2.2 X Net Loss, nm Operating Cash flow*, -13.3% NET DEBT / LTM EBITDA * Before working capital changes 4
Slide 5: H1 2026 Financial Highlights (Versus H1 2025)
H1 2026 Financial Highlights (Versus H1 2025) 1,586 M 540 M 34.0 % Revenue, -10.6% EBITDA, -21.0% EBITDA Margin, -4.5 ppts -24.5 M 524 M 2.2 X Net Loss, nm Operating Cash flow*, -19.7% NET DEBT / LTM EBITDA * Before working capital changes 5
Slide 6: H1 2026 Highlights
H1 2026 Highlights 11.8 Bn 71.7 % 1.06 % 0.064 46 3 BACKLOG UTILIZATION NPT - YTD TRIF RIG MOVES* Offshore Rigs +7% YoY Resuming Operations • 3.3 years contract • 43 active rigs / 60 • Improvement of • Reflects • Slight decrease in • Post-period: 3 tenure . available . 40 basis points significant
Slide 7: Backlog and Rig Utilization - June 2026
Backlog and Rig Utilization - 30 June 2026 +7% 12.4 12.5 11.8 Backlog of 11.8 Bn , bn 11.1 11.0 4.6 4.1 3.7 • Backlog remained strong, up 7% year-on-year 4.0 4.1 • Average remaining contract tenure of 3.3 years 7.7 8.5 8.1 7.1 6.9 • Strong book-to-bill ratio of 3.6x. Q2 ’25 Q3 ’25 Q4 ’25 Q1 ’26 Q
Slide 8: Contract Renewals - As of June 2026
Contract Renewals - As of 30 June 2026 Rig Contracts Expiring by Year • 2026 contract renewals reduced from 18 to 15 15 since Q1 2026: 1 12 • One contract expiry shifted to 2027. 0 • Two contract terminations; affected rigs expected to return to service during Q3’26. 11 7 12 4 • 11 Gas LSTK contract
Slide 9: Financial KPIs: Q2 2026 Versus Q1 2026
Financial KPIs: Q2 2026 Versus Q1 2026 (, M) -13.3% • Q2 ’26 revenue decline was -6.9% 0.9% 822 contained at 6.9% QoQ, better 765 35.2% 32.8% than prior guidance of up to 12%, supported by land improvement 289 251 and full quarter contribution from 7 GCC project. -4.1% -32 • EBITDA margin moderated
Slide 10: Financial KPIs: H1 2026 Versus H1 2025
Financial KPIs: H1 2026 Versus H1 2025 (, M) -10.6% -21.0% • Revenue and EBITDA declined YoY, 1,774 38.5% 34.0% reflecting lower utilization, weaker 1,586 683 83 offshore contribution and absence 540 4.7% of high-margin work. -1.5% • EBITDA margin at 34.0%, -24 supported by cost discipline H1 ’25 H
Slide 11: Segment Analysis
Segment Analysis, (, M) Land Segment Revenue and GP % 1,000 40 1,400 50 35 -10.7% 39% 1,200 2,000 34% 40 800 +8.2% 1,278 35% 40 1,774 30 50 33% 1,586 1,142 1,000 593 25 822 1,500 30 600 549 1,000 40 800 765 30 72% 20 1,000 72% 20 400 14.0% 30 600 67% 20 15 78% 500 15.0% 20 400 10 10 500 10 200 8.1%
Slide 12: Net Income Bridging Q2 2026 vs. Q1 2026
Net Income Bridging Q2 2026 vs. Q12026 Proactive Measures Protected Q2 Profitability 7 • Land operational improvements, GCC contribution and cost optimization offset ~70% of offshore disruption impact. -32 -127 59 • AD’s diversified land and offshore business model helped mitigate the impact of temp
Slide 13: Cash On Hand Bridging Q2 2026 vs. Q1 2026
Cash On Hand Bridging Q2 2026 vs. Q1 2026 Resilient Cash Generation -27 despite offshore suspensions 251 -181 566 -10 -80 489 and reactivation CAPEX -30 • Strong focus on working capital management Q1 ’26 EBITDA Chg. In WC CAPEX Net Loans and Others Q2 ’26 finance leases cost • DSO improved by 9 day
Slide 14: Net Debt Stable, Leverage Expected to Decline
Net Debt Stable, Leverage Expected to Decline • Net debt remained broadly stable 3,000 +1.4% 3.03,000 -10.3% 3.0 QoQ at SAR 2.4B 2,659 2,384 2,384 2,500 2,351 2.2 2.52,500 2.2 2.5 2.0 2,000 2.02,000 1.9 2.0 • YoY net debt declined 10.3%, supported by scheduled loan 1,500 1.51,500 1.5 amortization an
Slide 15: Q3 Outlook & Guidance
Q3 Outlook & Guidance Revenue (Quarterly) Q3 2026 revenue expected to increase by 4-6%, supported by the return to service of three offshore rigs. CAPEX (Annual) Full-year 2026 CAPEX guidance remains unchanged. 15
Slide 16: Questions And Answers
Questions And Answers Investor Relations contacts: Raed Almaharmeh- RAlMaharmeh@arabdrill.com, Sarah AlQahtani – salqahtani@arabdrill.com 16
Slide 17: Appendix
Appendix This document and the information contained in it are given in confidence and are only to be used by the disclosing party and the receiving party to explore business opportunities relating to Arabian Drilling; they may not be disclosed to third parties or used for any other purpose without
Slide 18: Fleet Analysis
Fleet Analysis Total Available Fleet Active Fleet Inactive Fleet 60 60 49 17 2 2 2 0 43 9 9 8 2 4 7 11 0 5 49 49 39 5 37 1 5 5 Q1 ’26 Q2 ’26 Q1 ’26 Q2 ’26 Q1 ’26 Q2 ’26 Land rig Offshore rig SESV Land rig Offshore rig SESV Susp’d (Land) Uncont’d (Land) Susp’d (Offshore) Uncont’d (Offshore) 18