Tidewater Inc. · NYSE:TDW
Tidewater — Corporate Update (March 2021)
17 slides from Tidewater's corporate update, Mar 24, 2021
Slide 1: Company Update
Company Update March 24, 2021 tdw.com
Slide 2: Forward-looking Statements
Forward-looking Statements In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Tidewater Inc. (the “Company”) notes that certain statements set forth in this presentation contain certain forward-looking statements which reflect our current view with
Slide 3: 4Q + 2020 Highlights
4Q + 2020 Highlights Transformation successful, generating Free Cash Flow tdw.com
Slide 4: Successfully Navigating Market Challenges
Successfully Navigating Market Challenges Resilient cash Record Safety Disciplined Commitment to flow generation Performance Capital Allocation Carbon Reduction § Free cash flow § Achieved record § Rapidly scaled § Vessels outfitted positive for Q4 and global safety back dry dock with hybrid and ful
Slide 5: ESG
ESG Committed to sustainability, onshore and offshore tdw.com
Slide 6: Leadership in Sustainability
Leadership in Sustainability Safety Environment Social Governance § The safety of our employees § Our fleet utilizes very low or § Investment in community § Board-level commitment to is our highest priority; we ultra-low sulfur fuel, betterment in the areas in sustainability consistently maintain co
Slide 7: Financial & Operational Highlights
Financial & Operational Highlights Low leverage with a strategically-located modern fleet tdw.com
Slide 8: Industry-Leading Low Leverage with a Modern Fleet
Industry-Leading Low Leverage with a Modern Fleet Market Cap and Leverage 1 Tidewater Fleet NBV ($mm)2 $700 120% $1,000 97% 99% $600 88% 100% $800 83% Active Stacked $658 $500 65% 80% $600 $400 Market Cap. 60% $300 6% (US$mm) $400 40% $200 $200 $107 $100 20% $8 $0 0% $0 Deepwater Towing Supply Other
Slide 9: Fleet High-Grading Ongoing
Fleet High-Grading Ongoing Changes to Tidewater Fleet End Q4 2019 to End Q4 2020 Fleet Optimization Continues 300 14% 250 217 56 200 172 17% 11 Deepwater 150 19 35 Towing Supply 100 20% 172 Other 152 161 50 114 23% Vessels Active 60% Stacked 0 AHFS as of Disposed Acquired as of 66% 12/31/2019 12/31/
Slide 10: Active Fleet Leveraged to Growth Areas
Active Fleet Leveraged to Growth Areas Total fleet average age is 5 years younger than the Active Fleet global fleet 114 Vessels Tidewater’s is the third- North Sea & youngest fleet of the top Mediterranean 10 OSV owners globally - 19 Deepwater Average Age 10.4 Years Americas Middle East - 18 Deepwa
Slide 11: The Strongest Balance Sheet in the Sector
The Strongest Balance Sheet in the Sector Condensed Balance Sheet Assets $mm Liabilities & Equity $mm Cash and equivalents 149,933 Current portion of debt 27,797 Other current assets 238,716 Other current liabilities 155,382 Current assets 388,649 Current liabilities 183,179 Property & equipment, ne
Slide 12: The Strongest Balance Sheet in the Sector
The Strongest Balance Sheet in the Sector Debt Position – Contractual Obligations $500 $400 $300 $200 $174 $100 $55 $45 $16 $13 $13 $0 2021 2022 2023 2024 2025 5+ Years Long-Term Debt Operating Leases Other Long-Term Obligations All statistics as of December 31, 2020. 12 tdw.com
Slide 13: Market Status
Market Status Positioned for growth tdw.com
Slide 14: Global OSV Dayrate Development
Global OSV Dayrate Development $25,000 $20,000 $15,000 $10,000 $5,000 $0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Average OSV Day Rates Average Tidewater
Slide 15: Rig & OSV Demand Growth
Rig & OSV Demand Growth Market pressure to persist into 2022 MODU Supply/Demand OSV Supply/Demand 900 100% 4,000 100% 95% 3,500 95% 800 90% 90% 700 3,000 85% 85% 600 2,500 80% 80% 500 75% 2,000 75% 400 70% 1,500 70% 300 65% 65% 1,000 200 60% 60% 100 500 55% 55% 0 50% 0 50% Jan-13 Jan-14 Jan-15 Jan-1
Slide 16: Tidewater Locations
Tidewater Locations Tidewater’s Vision To be the global leader in the offshore industry by providing, in the most cost-efficient manner possible, unmatched support and exceptional local service to our customers, utilizing the safest, most highly skilled workforce. • Global Presence • 172 Vessels • 5
Slide 17: Thank you
‘|’ TIDEWATER Thank you tdw.com