Paratus Energy Services Ltd. · OSL:PLSV

Paratus Energy Services — Pareto Energy Conference 2024

13 slides from Paratus Energy Services's conference presentation, Sep 11, 2024

  1. Slide 1: Paratus Energy Services - Pareto Energy Conference Presentation

    Paratus Energy Services Pareto Energy Conference Presentation 11 September 2024

  2. Slide 2: Paratus in 1 – 2 – 3

    Paratus in 1 – 2 – 3 1 2 3 Exceptional cash position Solid backlog and outlook Flexible capital structure  $246m cash(1)(2)  $1.4bn backlog(1)(3)  Majority of maturities pushed to 2029  $215m receivable  Backlog FCFE represents  2.0x net leverage(1)(5) 79-86% of Market Cap(4) AN INDUSTRY LEADI

  3. Slide 3: Paratus is the principal holder of a group of leading energy service providers

    Paratus is the principal holder of a group of leading energy service providers  Paratus group consists of the leading energy services companies Seagems and Fontis Energy  Other equity investments Operational companies(1) Financial Investments Seagems JV 50% ownership(2) 100% ownership ~24% ownersh

  4. Slide 4: Paratus at a glance

    Paratus at a glance(1)(2) ~$1.4bn $247m ~54% Firm backlog(3) LTM EBITDA LTM EBITDA margin $486m $246m $215m Net debt(4) Cash position(5) Receivable position(6) Notes: (1) LTM figures based on Q2 2024 (2) Management reporting includes numbers reflect 100% of Paratus, 100% of Fontis Energy and 50% of

  5. Slide 5: Firm backlog of $1.4bn + long-term tailwinds for higher re-contracting

    Firm backlog of $1.4bn + long-term tailwinds for higher re-contracting 2H 2024 2025 2026 2027 2028 Name Location Vessel Type Diamante PLSV $141k/day $284k/day Topazio PLSV $141k/day $284k/day Seagems JV Esmeralda PLSV $193k/day $259k/day Onix PLSV $170k/day $284k/day Jade PLSV $282k/day Rubi PLSV $2

  6. Slide 6: Demonstrated ability to deleverage, unlocking shareholder returns

    Demonstrated ability to deleverage, unlocking shareholder returns ~$1bn deleveraging in Seagems since 2015 ~$700m deleveraging in Fontis Energy since 2015(1) Net debt (USDm) Net debt (USDm) 1,200 600 -689 -973 550 1,100 500 1,000 450 900 400 800 350 700 300 588 600 250 1,101 1,042 200 408 500 Distri

  7. Slide 7: Successful refinancing creates flexibility to pursue efficient capital allocation

    Successful refinancing creates flexibility to pursue efficient capital allocation The refinancing extended maturities beyond the Group’s firm backlog, establishing clear path to shareholder returns USDm New Bonds Existing Notes Seagems (50%) Financial Min. free liquidity: the higher of (i) 5% of Gro

  8. Slide 8: Backlog supports significant distribution capacity the next few years

    Backlog supports significant distribution capacity the next few years  Illustrative cash generation to shareholders based on firm contract backlog(1)(2) USDm % of Market Cap(5) 1,010 79% – 86% 1,000 700 Per share (USD) 85 4.0 – 4.4 800 265 745 600 640 950 400 685 200 224 0 Unrestricted cash and Ill

  9. Slide 9: Providing significant and immediate shareholder returns

    Providing significant and immediate shareholder returns  Capital allocation policy  Select subsea and offshore drillers yield comparison(2)(3) (4) Cash distribution to Q2 Cash Distribution 17.2% shareholders(1) of $0.22 / share 7.3% 5.9% Authorized share repurchases up to $100 4.9% million Share 3

  10. Slide 10: Paratus, a name to remember

    Paratus, a name to remember 1 2 3 Significant free Substantial Efficient and cash flow backlog flexible capital visibility structure 10

  11. Slide 11: Disclaimer and important information (1/2)

    Disclaimer and important information (1/2) This document and any information provided in this presentation (the "Presentation") has been prepared by Paratus Energy Services Ltd (the "Company") solely for the purposes of providing existing investors and other stakeholders with an update about certain

  12. Slide 12: Disclaimer and important information (2/2)

    Disclaimer and important information (2/2) Neither the Company nor any member of the Paratus Group undertakes any obligation to update any forward-looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events

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