Slide 1: Archer Q2 2026 Results
Archer Q2 2026 Results 13 August 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 Well Platform P&A Services Operations $1.2bn $167m $4bn ’25 Revenue ’25 EBITDA YE ’25 backlog1 Land Renewable Drilling Services 50+ years 40 ~3,500 Operational experience Locations globally Global personnel 2 1 Including options 2 Per 30.6.2026 3
Slide 4: Q2 Financials: Record EBITDA
Q2 Financials: Record EBITDA Revenue ($m)1 EBITDA ($m)1 Dividends ($m) Backlog ($bn) Q2 Revenue Q2 EBITDA Q2 Distribution Q2 Backlog2 $263m $45m $6.5m $3.9bn 17.1% margin NOK 0.62/share 258 269 263 45 6.4 6.5 3.9 39 5.5 3.4 36 Q2-25 Q1-26 Q2-26 Q2-25 Q1-26 Q2-26 Q2-25 Q1-26 Q2-26 Q1-26 Q2-262 1 Excl
Slide 5: Archer's EBITDA remains resilient
Archer’s EBITDA remains resilient Robust historical EBITDA Strong Q2 EBITDA development1 EBITDA EBITDA Q2 YoY 167 (Q2 ’26 vs. Q2 ’25) Margin 149 -8% Peers 131 14% 109 95 94 87 82 14% 13% 14% 13% 12% EBITDA Q2 QoQ 12% 12% (Q2 ’26 vs. Q1 ’26) 65 10% 8% Peers 6% +24% ’17 ’18 ’19 ’20 ’21 ’22 ’23 ’24 ‘25
Slide 6: Strong momentum from several contract wins
Strong momentum from several contract wins OPERATIONAL HIGHLIGHTS • Since Q1 we have increased our backlog by around $0.5 billion through multiple contract awards: • Large integrated P&A contract by Apache covering more than 260 wells1 • 3-year extension with Equinor for wireline intervention servic
Slide 7: Major integrated P&A contract awarded by Apache in the UK
Major integrated P&A contract awarded by Apache in the UK Major integrated P&A project Broad P&A scope for Archer • Archer will deliver all platform-based drilling services, a 7 198 68 P&A unit, and a range of well services to both platform and subsea wells as part of the integrated P&A offering UK
Slide 8: Strong earnings visibility from backlog of $3.9bn
Strong earnings visibility from backlog of $3.9bn Revenue backlog implies above $600m of EBITDA1 Strong visibility and high backlog coverage Revenue backlog ($bn) • Long-term visibility through Platform Operations contracts with blue-chip clients, Revenue YTD Firm backlog Option totalling about $1.8
Slide 9: $800 million integrated P&A backlog, including more than 500 wells
$800 million integrated P&A backlog, including more than 500 wells Integrated P&A contract overview Client Location Scope Duration Integrated subsea P&A execution: Archer to provide well engineering, Equinor NCS 3 years + 4-year option fishing services and downhole tools ~$800 million Late-life oper
Slide 10: Well positioned to capture the expected growth in both platform and subsea P&A
Well positioned to capture the expected growth in both platform and subsea P&A Global deepwater decom spending, 2016-2045 Archer is well positioned in both markets Offshore deepwater expenditures, $bn Platform P&A 36 Large market today, with material growth to continue 20 2.5x Platform ➢ Archer lead
Slide 11: Archer is growing in subsea intervention and P&A
Archer is growing in subsea intervention and P&A Subsea interventions and P&A in key regions Growing subsea track record ✓ Executed intervention and P&A work of more than 300 subsea wells globally ✓ Current P&A backlog of more than 100 subsea wells US GoA Norway ✓ Significant subsea P&A contracts wi
Slide 12: Developing disruptive technology to support growth in subsea P&A
Developing disruptive technology to support growth in subsea P&A Archer disruptive technologies to commercialize in ’26-’27 Key benefits of subsea technology Selected Archer technology for subsea P&A Rigless solutions that reduce dependency on drilling rigs and large vessels for P&A work ✓ Alloy bar
Slide 13: Land Drilling: Solid earnings visibility through $800m backlog
Land Drilling: Solid earnings visibility through $800m backlog Well positioned to capture the growth in Argentina Land Drilling contracts overview Set for growth in Vaca Muerta Drilling rigs Client 2026 2027 2028 2029 2030 • Oil production in Vaca Muerta is growing rapidly and clients and industry e
Slide 14: Well Services Financials
Well Services Financials Revenues ($m) EBITDA ($m) • Seasonal strong quarter as revenue was reported at $88.9 million; 25% higher than +16% Q2 2025 100 20 90 91 89 • EBITDA of $19.9 million represents a 83 18 80 16% increase compared to same period 73 71 16 last year. 70 14 60 • EBITDA margin of 22.
Slide 15: Platform Operations Financials
Platform Operations Financials Revenues ($m) EBITDA ($m) • Total revenue of $96.2 million represents a 180 25 decrease of 20% compared to Q2 2025, 160 -20% following loss of contract in Brazil and no 140 120 133 20 MDR activity 120 115 107 96 15 100 • EBITDA of $12.0 million is $2.1 million 80 60 10
Slide 16: Land Drilling Financials
Land Drilling Financials • Revenue in the quarter of $52.1 million is Revenues ($m)1 EBITDA ($m)1 up 8% from previous quarter. +225% 80 14 73 • Increased activity and first full quarter 70 63 64 12 without revenue from the divested South 60 48 52 10 business 50 8 40 6 • EBITDA of $13.0m is up by ~22
Slide 17: Renewable Services Financials
Renewable Services Financials EBITDA ($m) • Revenue in the quarter of $25.3 million is Revenues ($m) -28% down in the quarter related to the offshore 40 39 40 10 floating wind project coming to an end. 35 34 30 8 • EBITDA remain muted as two rigs for 25 6 Iceland Drilling is in transit, partly offse
Slide 18: Culzean Floating Wind Pilot
Culzean Floating Wind Pilot FINAL ASSEMBLY IN PROGRESS • Integrating engineering, fabrication and final assembly executed by Archer Wind • Quayside integration of floater and wind turbine reduces offshore installation time • Tow-out to field expected end of August 1 Load out 2 Tower lift 3 Final ass
Slide 19: Condensed profit & loss
Condensed profit & loss ($ million Q2 2026 Q2 2025 YTD 2026 YTD 2025 Revenues 262.6 296.7 541.1 595.8 • Revenue: $262.6m in Q2 2026 ($541.1m YTD) EBITDA before exceptional items 47.7 45.4 88.8 90.7 Underlying activity remained strong despite the divestment of the EBITDA margin before exceptional ite
Slide 20: Condensed balance sheet
$ million 30.06.2026 31.03.2026 31.12.2025 Property, plant and equipment 330.8 332.3 324.9 Right of use assets 54.9 57.7 57.6 Goodwill 204.4 199.5 196.2 Condensed balance sheet Intangible assets 35.3 33.9 32.5 Investment in associates and JVs 4.7 4.2 4.0 Deferred tax asset 29.4 35.2 34.9 Other non-c
Slide 21: Distribution of $6.5 million to shareholders in Q3 (10% yield)
Distribution of $6.5 million to shareholders in Q3 (10% yield) Q3 cash distribution Archer with industry leading direct yield Shareholder program yields in industry1 Share buybacks Payout per share: NOK 0.62 per share Dividends and cash distribution ~10% Total distribution: Approx. $6.5 million Paym
Slide 22: Appendix
Appendix 22
Slide 23: Archer's markets
Archer’s markets Mainly positioned in the production and well decom market segments Production operations Energy transition Greenfield operations Renewables Production and late life services Well P&A and decommissioning Services for exploratory Increase lifetime and output of Ensuring wells are clos
Slide 24: Solid outlook for Archer's core markets
Solid outlook for Archer’s core markets Stable production spending in key offshore markets Global offshore decom spending set accelerate E&P brownfield spending 2023-2028E ($bn) Offshore decom expendtiures ($bn) UK NOR US 88 +1% 31 30 30 29 29 29 53 39 40 31 21 2023 2024 2025 2026E 2027E 2028E ’16-’
Slide 25: Archer is well positioned to capture the growing offshore P&A market
Archer is well positioned to capture the growing offshore P&A market >$200bn decom spend next 20 years Archer is well positioned globally Rystad offshore decom expenditures 2026-2045, $bn Archer main market focus Technology and solutions approach Market/region Archer position today 41 Market leader
Slide 26: Well Services: Intervention and P&A services
Well Services: Intervention and P&A services High-end well intervention services and technology Strong EBITDA growth • High-end solutions ensuring well performance to clients globally and a EBITDA ($m)1 leading offering within P&A services • Strong annual EBITDA growth of close to 20% from 2017 to 2
Slide 27: Well Services: International business with 3 main segments
Well Services: International business with 3 main segments Well Services segments 2026E revenue diversification By segments Selected key clients ▪ Global business that offers P&A, well integrity, intervention and remediation products and services ▪ Offering and solutions spanning wellbore barriers,
Slide 28: Platform Operations: Platform drilling, engineering and P&A units
Platform Operations: Platform drilling, engineering and P&A units Production and late life operation services Diverse service offering • A leading platform drilling provider in the North Sea, based on long- term contracts with major operators Platform Operations • Platform Drilling and P&A units ser
Slide 29: Platform Operations: 4 service segments, focused on the North Sea
Platform Operations: 4 service segments, focused on the North Sea Platform Operation segments 2026E revenue split ▪ Provides drilling management, crews, equipment By segment Selected key clients and accessories for production operations on Platform offshore platforms ▪ The client base consists of la
Slide 30: Platform Operations: Broad range of modular units for P&A
Platform Operations: Broad range of modular units for P&A Workover and P&A rigs Lighter P&A units Topaz 400t Emerald 400t Sirius 150t AP 101 300/110 Compact workover rig Compact workover rig Warm stacked – Ongoing P&A project P&A project startup P&A project startup P&A project start up for Equinor Q
Slide 31: Platform Operations and Well Services with a total backlog of close to $3bn
Platform Operations and Well Services with a total backlog of close to $3bn PO contract backlog of ~USD 1.8 billion1 WS contract backlog of ~USD 1.1 billion Rig / Field Operator 2026 2027 2028 2029 2030 2031 2032 Rig / Field Operator 2026 2027 2028 2029 2030 2031 2032 12 platforms on 6 NCS platforms
Slide 32: Land Drilling: Cash positive drilling business focused on the growing Vaca Muerta
Land Drilling: Cash positive drilling business focused on the growing Vaca Muerta A leading land drilling provider in Vaca Muerta Financial profile of Vaca Muerta business Land Drilling EBITDA ($m), excluding workover business1 • A leading provider of land drilling services in Argentina • Self-suffi