Helix Energy Solutions Group, Inc. · NYSE:HLX
Helix Energy Solutions — Hornbeck Offshore Services — Investor Presentation (September 2026)
27 slides from Helix Energy Solutions's investor presentation, Sep 3, 2026
Slide 1: Hornbeck Offshore Services: A Premier Integrated Offshore Services Company
Exhibit 99.1 Hornbeck Offshore Services A Premier Integrated Offshore Services Company
Slide 2: Combination with Helix Creates an Integrated Offshore Services Leader in Deepwater
Combination with Helix Creates an Integrated Offshore Services Leader in Deepwater Merger completed September 1, 2026 ▪ P R O F O R M A C O M B I N E D C O M P A N Y Hornbeck Offshore Services, Inc. Fleet of High-Specification Deepwater Vessels Well Intervention, Robotics and Technical Services NYSE
Slide 3: Post-Merger Executive Leadership
Post-Merger Executive Leadership Deepwater leadership spanning marine transportation, subsea services and well intervention ▪ Todd M. Hornbeck Scotty Sparks Carl Annessa President, Chief Executive Officer & Director EVP & Chief Operating Officer, Subsea EVP - Defense / Emerging Technologies Services
Slide 4: Global Operating Footprint and Asset Base
Global Operating Footprint and Asset Base Complementary positions in core cabotage -protected markets and technical capabilities create enhanced opportunities for asset ▪ optimization, customer expansion and integrated service delivery (1) Geographic Footprint Revenue by Region Other, Mexico, 7% 3%
Slide 5: Strategic Vision
Strategic Vision Hornbeck delivers innovative and integrated marine solutions for deepwater through a diversified fleet of specialty vessels, subsea ▪ robotics, well interventio n, marine and technical service capabilities Leverage Proprietary Technologies and Engineering Integrate Industry-Leading
Slide 6: The Hornbeck Value Proposition
The Hornbeck Value Proposition Increased scale, diversified end -market exposure, strong free cash flow generation and a conservatively capitalized balance shee t ▪ position Hornbeck for sustained shareholder value creation (1) (2) Strong Adjusted Free Cash Flow ($mm) Diversified End Markets Well-Ca
Slide 7: Three Core Segments with Integrated Service Capability
Three Core Segments with Integrated Service Capability Three operating segments create a diversified deepwater offshore services platform spanning marine transportation, subsea ▪ services and well intervention Segment Description LTM Revenue as of 2Q2026 Transportation of equipment, materials and su
Slide 8: Operating Segments Overview
Operating Segments Overview The merger creates a diversified deepwater offshore services platform organized across three operating segments, providing ▪ enhanced transparency into the primary drivers of revenue, utilization and profitability Relevant Operating Statistics by Segment | 2Q2026 LTM Mari
Slide 9: Diversified Service Offerings Across Various Deepwater End-Markets
Diversified Service Offerings Across Various Deepwater End-Markets (1) 2Q2026 LTM Combined Revenue Mix Oil & Gas Non–Oil & Gas Oilfield Drilling • Operational logistics for submarine fleet • Submarine rescue, training & support 13% Drilling Support Defense • Long range acoustic survey support • Auto
Slide 10: U.S. Defense Industry – Driving Non-Oil and Gas Growth
U.S. Defense Industry – Driving Non-Oil and Gas Growth Defense continues to grow as a share of revenue, providing longer -term contract visibility and reduced cyclicality underpinned b y ▪ specialized fleet capabilities and long -held security clearances (1) Defense Sector Revenue Key Attributes of
Slide 11: New and Emerging Technologies
New and Emerging Technologies Hornbeck actively pursues partnerships to develop cutting -edge technologies that expand growth opportunities and enhance ▪ existing vessel offerings Hornbeck Technology Partnerships – Recent Announcements Sea Machines Robotics – August 2026 Deployable Energy – August 2
Slide 12: Significant Revenue and Cost Synergy Opportunity
Significant Revenue and Cost Synergy Opportunity Prioritizing business continuity while quickly capturing the most actionable synergy opportunities to improve utilization, ex pand ▪ margins, reduce costs and capture more value from customers Expected Revenue Synergies Synergy Potential | Utilization
Slide 13: Conservative Balance Sheet with Ample Liquidity and Strong Free Cash Flow
Conservative Balance Sheet with Ample Liquidity and Strong Free Cash Flow Hornbeck’s low leverage, strong liquidity, and disciplined capital allocation framework provide flexibility to fund growth, m anage ▪ through cycles and support long -term shareholder value creation Well-Capitalized with Flexi
Slide 14: Embedded Organic Growth Opportunities
Embedded Organic Growth Opportunities Well-Positioned for Future Growth and Sustained Shareholder Value Supported by Increased Scale, Balance Sheet Strength and ▪ Robust Free Cash Flow Generation Potential Growth Drivers Growth Driver Detail ($mm) Integrated services pull-through 4 1 Two 400-class M
Slide 15: Conclusions
Conclusions Hornbeck benefits from its integrated end-to-end deepwater service offerings, diverse customer base and end markets, and ▪ strong balance sheet flexibility Key Highlights Integrated offshore solutions for deepwater applications supported by specialty 1 vessels, subsea and well interventi
Slide 16: Appendix
21 96 130 255 109 29 25 107 36 15 158 213 Appendix 160 43 147 78 167 46 70 120 134 150 96 125 HornbeckOffshore.com | © 2026 Hornbeck Offshore 16
Slide 17: Operating Segment Framework
Operating Segment Framework Active Fleet Utilization 92.4% 100.0% Marine Transportation 75.0% 73.7% 64.2% Subsea Services 50.0% 25.0% Well Intervention - 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Historical Utilization, Dayrate, and Vessel Count Metrics 1Q23 2Q23 3Q23 4Q2
Slide 18: A Complementary Deepwater Platform Offering Scale, Durability and Diversification
A Complementary Deepwater Platform Offering Scale, Durability and Diversification Combination creates a differentiated offshore services provider enhancing scale, earnings resilience and end -market exposure ▪ (1) (2) 2Q2026 LTM Revenue 2Q2026 LTM Adjusted EBITDA $551 $1.9 HOS HOS HLX HLX 39% 51% 61
Slide 19: Marine Transportation and Specialty
Marine Transportation and Specialty Largest high-spec Jones Act fleet heading into a tightening supply market ▪ 57 6 57 24 $724mm U.S. Jones Act- Stacked vessels Total OSVs, incl. Accommodation and Contracted backlog qualified vessels available (1) 22 ultra-deepwater-high-spec specialty vessels As o
Slide 20: Subsea Services
Subsea Services Equipment-led subsea earnings with increasing demand from oilfield, renewables and military customers ▪ 41 6 3 9 5 $483mm Work-class Subsea trenching IROV MPSVs, incl. two Chartered ROV Combined subsea services (1) (2) Vessels ROVs systems Boulder grabs newbuilds in 2027 and 2028 bac
Slide 21: Well Intervention
Well Intervention Regulation-driven P&A activity supports demand, regardless of commodity price environment ▪ 7 12 2,700+ $40-70bn $755mm Well intervention Subsea intervention GoA wells overdue Estimated GoA Contracted backlog (1) (1) (2) Vessels systems for plugging decommissioning cost As of 2Q202
Slide 22: Hornbeck's Industry-Leading Deepwater Fleet
Hornbeck’s Industry-Leading Deepwater Fleet (1) (1) (1) 57 Vessel OSV Fleet 15 Vessel MPSV Fleet 7 Vessel Well Intervention Fleet Vessel Class Active / (Stacked) Vessel Class Active / (Stacked) Vessel Class Active / (Stacked) HOSFLEX 370 1/(1) HOSMPSV 430 2 Semi-Submersible 3 2 HOSMAX 320 HOSMPSV 40
Slide 23: Hornbeck | Non-GAAP Reconciliation
Hornbeck | Non-GAAP Reconciliation ($ in thousands, unaudited) Six Months Ended Twelve Months Ended December 31, June 30, 2026 June 30, 2025 June 30, 2026 2025 Reconciliation from Net Income to EBITDA, Adjusted EBITDA and Adjusted Free Cash Flow: Net income $ 30,239 $ 74,733 $ 128,896 $ 173,390 Inte
Slide 24: Helix | Non-GAAP Reconciliation
Helix | Non-GAAP Reconciliation ($ in thousands, unaudited) Six Months Ended Twelve Months Ended December 31, June 30, 2026 June 30, 2025 June 30, 2026 2025 Reconciliation from Net Income to EBITDA, Adjusted EBITDA and Adjusted Free Cash Flow (Continuing Operations): Net income from continuing opera
Slide 25: Hornbeck Pro Forma | Credit Statistics and Reconciliation for Non-GAAP Debt Metrics
Hornbeck Pro Forma | Credit Statistics and Reconciliation for Non-GAAP Debt Metrics ($ in thousands, unaudited) As of June 30, 2026 HOS HLX Adjs Combined Co Cash Balance $ 95,650 $ 652,234 $ (230,256) $ 517,628 Total Debt, per GAAP $ 451,550 $ 304,305 $ - $ 7 55,855 Original Issue Discount 5,264 816
Slide 26: Disclaimer
Disclaimer Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of present or historical fact included in this presentation are forwa
Slide 27: 46 70 120 134 150 96 125
21 96 130 255 109 29 25 107 36 15 158 213 160 43 147 78 167 46 70 120 134 150 96 125
Hornbeck Offshore Services — Investor Presentation (September 2026) on 6ix