Noble Corporation Plc A · NYSE:NE
Noble Corporation Plc A — Noble — Q3 2025 Earnings Presentation
12 slides from Noble Corporation Plc A's earnings presentation, Oct 28, 2025
Slide 1: Third Quarter 2025 Earnings Conference Call
Noble Corporation plc Third Quarter 2025 Earnings Conference Call October 28, 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 Approximately $740M in New Contracts(1) BlackLion, BlackHornet, Venturer, Developer, Resolute, Interceptor Q3 Adjusted EBITDA of $254M, Free Cash Flow of $139M $419M of FCF through 9M 2025 = 48% conversion from Adjusted EBITDA Consistent Return of Capital Program $340M returned to shareholde
Slide 4: Third Quarter Financial Highlights
Third Quarter Financial Highlights Capital expenditures, net of insurance Free cash flow Adjusted EBITDA Adjusted EBITDA margin proceeds $254M 32% $138M $139M $282M 33% $107M $110M Net debt Net Leverage Liquidity Backlog $1,499M 1.3x $1,010M $7.0B $1,640M 1.3x $870M $6.9B Prior quarter figures for Q
Slide 5: Current Backlog Stands at $7.0 Billion
Current Backlog Stands at $7.0 Billion Backlog ($B) and Contract Coverage 63% 57% 41% 24% 6% 2.4 Floaters 1.9 Jackups 1.3 0.9 0.5 2025 2026 2027 2028 2029-2031 Percentage of available days committed1 1) Committed days on total marketed fleet of 35 rigs, per 10/27/2025 fleet status report. 5
Slide 6: Drillships Fleet Overview
Drillships Fleet Overview 2025 2026 2027 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D Noble Faye Kozack Recent Highlights Noble Stanley Lafosse Noble Valiant • BlackHornet: 2-yr extension with bp in the U.S. Gulf Noble Venturer Noble Viking • BlackLion: 2-yr extension with
Slide 7: Semisubmersible Fleet Overview
Semisubmersible Fleet Overview 2025 2026 2027 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D Recent Highlights Noble Deliverer Noble Developer • Developer: one option well exercised by Petronas Noble Discoverer Ocean GreatWhite Noble Courage Ocean Apex Noble Endeavor Noble P
Slide 8: Jackup Fleet Overview
Jackup Fleet Overview 2025 2026 2027 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D Recent Highlights Ultra-Harsh Noble Innovator • Resolute: 1-yr contract with Eni in Dutch North Sea, plus options Noble Integrator Noble Interceptor • Interceptor: 150-days accommodation scop
Slide 9: Financial Overview
Financial Overview ($ millions) Quarter End Quarter End 9/30/2025 6/30/2025 Revenue 798 849 Adjusted EBITDA 254 282 margin % 32% 33% Net Income (Loss) (21) 43 Diluted EPS (0.13) 0.27 Cash flow from operations 274 216 Cash paid for capital expenditures, net of proceeds 138 110 from insurance claims F
Slide 10: Full Year 2025 Guidance Update
Full Year 2025 Guidance Update $ millions Revenue 3,225 – 3,275 3,200 – 3,300 Adjusted EBITDA 1,100 – 1,125 1,075 – 1,150 Capital Additions, net of reimbursements 425 – 450 400 - 450 Denotes prior guidance 10
Slide 11: Appendix: Reconciliation to GAAP Measures
Appendix: Reconciliation to GAAP Measures 11
Slide 12: First Choice Offshore™
First Choice Offshore™