Slide 1: Archer Q1 2026 Results
Archer Q1 2026 Results 19 May 2026
Slide 2: Disclaimer
Disclaimer Cautionary Statement Regarding Forward-Looking Statements In addition to historical information, this presentation contains statements relating to our future business and/or results. These statements include certain projections and business trends that are “forward-looking.” All statement
Slide 3: Our products & services
Our products & services Platform Renewable Operations Services $1.2bn $167m $4bn ’25 Revenue ’25 EBITDA YE ’25 backlog1 Well Land Services Drilling 50+ years 40 ~3,500 Operational experience Locations globally Global personnel 2 1 Including options 2 Per 31.3.2026 3
Slide 4: Q1 Highlights – another strong quarter
Q1 Revenue ($m) Q1 EBITDA ($m) Q1 Highlights – another strong quarter 300 299 -7% 278 0% 40 37 37 • Q1 revenue of $278 million, down 7% YoY (up 15% when excluding divested workover business) 200 30 • Q1 EBITDA of $37.2 million, in line with same quarter last year (up 12% when 20 excluding divested w
Slide 5: Archer's EBITDA remains resilient
Archer’s EBITDA remains resilient Robust historical EBITDA Strong Q1 EBITDA relative to peers1 EBITDA EBITDA Q1 YoY Actual / reported 167 (Q1 ’26 vs. Q1 ’25) Margin 149 Peers -10% 131 0% 109 95 94 87 82 14% 13% 14% 13% 12% EBITDA Q1 YoY Excluding divested 12% 12% (Q1 ’26 vs. Q1 ’25) 65 workover busi
Slide 6: Distribution of $6.6 million to shareholders in Q2 (~9% yield)
Distribution of $6.6 million to shareholders in Q2 (~9% yield) Q2 cash distribution Archer with industry leading direct yield Shareholder program yields in industry1 Share buybacks Dividends and cash distribution Payout per share: NOK 0.62 per share ~9% Total distribution: Approx. $6.6 million Payme
Slide 7: Outlook for Archer backed by backlog of $3.4bn
Outlook for Archer backed by backlog of $3.4bn Revenue backlog implies ~$550m of EBITDA1 ~$420m contract value added to firm backlog YTD Backlog ($bn) ~1.3 Q1 contract additions Q2 contract additions Integrated subsea P&A for Equinor Wireline services for Equinor 3-year contract for well engineering
Slide 8: Reiterate our financial guidance for 2026
Reiterate our financial guidance for 2026 2026 financial estimates1 Key takeaways • Single-digit growth expected for 2026 EBITDA, despite the sale of EBITDA ($m) 167 the workover business in the south of Argentina Single-digit • We expect 2-4 percentage points improvement in EBITDA margin growth fro
Slide 9: Platform Operations Financials
Platform Operations Financials Revenues ($m) EBITDA ($m) • Total revenue of $107.1 million represents 180 25 an increase of 1% compared to Q1 2025 +1% 160 140 133 20 • EBITDA of $14.2 million is stable from 120 120 105 106 115 107 15 previous quarter, while it is an increase of 100 $1.3 million comp
Slide 10: Well Services Financials
Well Services Financials • Seasonal strong quarter as revenue was Revenues ($m) EBITDA ($m) reported at $83.0 million; 22% higher than 100 20 Q1 2025 +22% • EBITDA of $16.2 million represents a 18 91 13% increase compared to same period 90 last year. Higher EBITDA from P&A 16 projects Norway and pro
Slide 11: Land Drilling Financials
Land Drilling Financials • Revenue in the quarter of $48.4 million is Revenues ($m)1 EBITDA ($m)1 down 24% from previous quarter, driven by 120 12 sale of workover business in the south 103 -24% 100 10 • Adjusted for the divested workover 80 73 63 64 8 business EBITDA is up by ~50% from the 60 48 6
Slide 12: Renewable Services Financials
Renewable Services Financials EBITDA ($m) • Revenue in the quarter of $39.8 million is +3% Revenues ($m) $1.0 million higher than previous quarter 39 40 40 10 35 34 • Soft EBITDA in the quarter of $0.9 million 30 8 as two Iceland Drilling rigs are in transit 23 6 from Philippines to Iceland 20 16 4
Slide 13: Condensed profit & loss
Condensed profit & loss ($ million Q1 2026 Q1 2025 Revenues 278.4 299.1 • Total revenue of $278.4 million in Q1 2026, down $20.8 EBITDA before exceptional items 41.1 45.3 million. However, adjusted for sale of workover business in EBITDA margin before exceptional items 14.8% 15.1% DLS South, underly
Slide 14: Condensed balance sheet
$ million 31.03.2026 31.12.2025 Property, plant and equipment 332.3 324.9 Right of use assets 57.7 57.6 Goodwill 199.5 196.2 Condensed balance sheet Intangible assets 33.9 32.5 Investment in associates and JVs 4.2 4.0 Deferred tax asset 35.2 34.9 Other non-current assets 19.9 25.3 • The main change
Slide 15: Archer's capital allocation strategy
Archer’s capital allocation strategy Shareholder returns M&A Capex Balance sheet Shareholder Selective accretive Capex maintained at Strong balance sheet and returns bolt-on acquisitions moderate levels healthy debt levels • Regular and sustainable • Disciplined strategy, with • Targeting total cape