Noble Corporation Plc A · NYSE:NE
Noble Corporation Plc A — Noble — Q2 2025 Earnings Presentation
12 slides from Noble Corporation Plc A's earnings presentation, Aug 5, 2025
Slide 1: Second Quarter 2025 Earnings Conference Call
Noble Corporation plc Second Quarter 2025 Earnings Conference Call August 6, 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 Fleet Rationalization Completed: Meltem, Scirocco | Planned: Globetrotter II, Highlander, Reacher Approximately $380M in New Contracts(1) Globetrotter I, Innovator, Intrepid, Resilient, Stanley Lafosse, Viking 2025 Guidance Update: Adjusted EBITDA and Capex Increased, Revenue Lowered Revised
Slide 4: Second Quarter Financial Highlights
Second Quarter Financial Highlights Adjusted EBITDA $282M $338M Capital expenditures, net of insurance proceeds $110M $98M Free cash flow $107M $173M Net debt $1,640M $1,675M Backlog $6.9B $7.5B Adjusted EBITDA margin 33% 39% Net Leverage 1.3x 1.4x 4 Prior quarter figures for Q1 2025 shown below Liq
Slide 5: Current Backlog Stands at $6.9 Billion
Current Backlog Stands at $6.9 Billion 2025 2026 2027 2028 Floaters Jackups 62% 49% 20%36% Percentage of available days committed1 Backlog ($B) and Contract Coverage 5 1.1 2.3 1.6 1.0 1) Committed days on total marketed fleet of 35 rigs, excluding three rigs planned for retirement, per 8/5/2025 flee
Slide 6: Floater Fleet Overview
2025 2026 2027 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Noble Faye Kozack (7g dual BOP) Noble Tom Madden (7g dual BOP) Noble BlackLion (7g dual BOP) Noble Sam Croft (7g dual BOP) Noble BlackRhino (7g dual BOP) Noble Don Taylor (7g dual BOP) Noble Voyager (7g dual BOP) Noble Gerry de Souza (6g dual BOP) N
Slide 7: Semisubmersible Fleet Overview
2025 2026 2027 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Noble Deliverer (6g) Noble Discoverer (6g) Ocean GreatWhite (HE 6g) Noble Courage (6g) Ocean Apex (5g) Noble Endeavor (HE 5g) Noble Patriot (HE 3g) Noble Developer (6g) 7 Semisubmersible Fleet Overview Recent Highlights • Developer: commenced Petron
Slide 8: Jackup Fleet Overview
2025 2026 2027 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 ULTRA HARSH ENVIRONMENT Noble Innovator (CJ70) Noble Integrator (CJ70) Noble Mick O’Brien (JU-3000N) Noble Resilient (CJ50) Noble Intrepid (CJ70) Noble Tom Prosser (JU-3000N) Noble Resolute (CJ50) Noble Interceptor (CJ70) Noble Invincible (CJ70) Nob
Slide 9: Financial Overview
Financial Overview Quarter End 3/31/2025 Quarter End 6/30/2025 ($ millions) 874849Revenue 338282Adjusted EBITDA 39%33%margin % 10843Net Income 0.670.27Diluted EPS 271216Cash flow from operations 98110Cash paid for capital expenditures, net of proceeds from insurance claims 173107Free cash flow 1,675
Slide 10: Full Year 2025 Guidance Update
Revenue 3,200 – 3,300 3,250 – 3,450 Adjusted EBITDA 1,075 – 1,150 1,050 – 1,150 Capital Additions, net of reimbursements 400 – 450 375 - 425 Full Year 2025 Guidance Update $ millions 10 Denotes prior guidance
Slide 11: Appendix: Reconciliation to GAAP Measures
Appendix: Reconciliation to GAAP Measures 11 Three Months EndedThree Months Ended June 30,Reconciliation of Adjusted EBITDA March 31, 202520242025 $ 108,303$ 195,008$ 42,872Net income (loss) 40,406(5,228)57,096Income tax (benefit) provision 40,46711,99639,997Interest expense, net of amounts capitali
Slide 12: First Choice Offshore
First Choice Offshore”