Adnoc Drilling Company Pjsc · ADX:ADNOCDRILL
Adnoc Drilling Company Pjsc — Merger or Acquisition (January 2024)
17 slides from Adnoc Drilling Company Pjsc's merger presentation, Jan 11, 2024
Slide 1: Joint Venture with Alpha Dhabi Holding PJSC & First Investment in Gordon Technologies
ADNOC Classification: Public JOINT VENTURE WITH ALPHA DHABI HOLDING PJSC & FIRST INVESTMENT IN GORDON TECHNOLOGIES JANUARY 11, 2024 1 ADNOC DRILLING
Slide 2: Disclaimer
ADNOC Classification: Public DISCLAIMER This presentation has been prepared by ADNOC Drilling Company PJSC (the “Company”) based on publicly available information and non-public information to assist you in making a preliminary analysis of the content referenced herein solely for informational purpo
Slide 3: Agenda & Presenters
ADNOC Classification: Public AGENDA & PRESENTERS JV Highlights and Progress Abdulrahman Abdullah Al Seiari Chief Executive Officer Strategy and Execution Christopher McDonald Chief Operating Officer Appendix Youssef Salem Chief Financial Officer 3 ADNOC DRILLING
Slide 4: JV Highlights and Progress
ADNOC Classification: Public JV HIGHLIGHTS AND PROGRESS 4 ADNOC DRILLING
Slide 5: Futureproofing ADNOC Drilling
ADNOC Classification: Public FUTUREPROOFING ADNOC DRILLING ESTABLISHMENT OF A JV TO CREATE VALUE WHILE EXECUTING ON OUR STRATEGY Establishment of Swift Acquisition Attractive Valuation Strong and Aligned Joint Venture of First Asset and Accretion Pipeline Potential JV is now established 25% stake in
Slide 6: Strategic Partnership with Alpha Dhabi
ADNOC Classification: Public STRATEGIC PARTNERSHIP WITH ALPHA DHABI JV ESTABLISHED, FIRST TRANSACTION SUCCESSFULLY COMPLETED November 2023 January 2024 Way Forward • ADNOC Drilling and Alpha Dhabi signed the • Successful incorporation of the JV • Evaluate, execute and integrate transactions in creat
Slide 7: Strong Value Additive Stakeholders
ADNOC Classification: Public STRONG VALUE ADDITIVE STAKEHOLDERS BLENDING ADNOC DRILLING’S TECHNICAL EXPERTISE WITH ALPHA DHABI AND LUNATE’S TRACK RECORD Structure Recap Stakeholder Overview Shareholders1 INVESTMENT • An investment STRATEGY holding company striving to become the market leader in all
Slide 8: Strategy and Execution
ADNOC Classification: Public STRATEGY AND EXECUTION 8 ADNOC DRILLING
Slide 9: Mandate Aligned to Shareholders Growth Ambitions
ADNOC Classification: Public MANDATE ALIGNED TO SHAREHOLDERS GROWTH AMBITIONS SIZEABLE CAPITAL COMMITMENT AND WELL-DEFINED STRATEGY FOR VALUE ENHANCEMENT USD 1.5 billion JV Highlights Committed Capital to acquire technology-enabled companies in the oilfield services (“OFS”) & energy • Well aligned m
Slide 10: Investment in Gordon Technologies
ADNOC Classification: Public INVESTMENT IN GORDON TECHNOLOGIES 25% EQUITY STAKE ACQUIRED BY THE JV IN ONE OF THE LEADING MWD PLAYERS OPERATING IN US Gordon Technologies Key Thesis Value Creation Levers Picture Picture • US-based leading provider of MWD • Strong fit with the JV mandate • Opportunitie
Slide 11: Gordon Fully Mapping the JV's Investment Criteria
ADNOC Classification: Public GORDON FULLY MAPPING THE JV’S INVESTMENT CRITERIA COMBINATION OF STRATEGIC, FINANCIAL AND DEAL PARAMETERS TO ENHANCE SHAREHOLDER VALUE Business Criteria Financial Criteria Governance Criteria Strategic / synergistic sub-sector focus Positive Earning Profile (EBITDA & FCF
Slide 12: Tangible Value Creation Plans
ADNOC Classification: Public TANGIBLE VALUE CREATION PLANS MAXIMISING POTENTIAL THROUGH MUTUAL SUPPORT TO ENHANCE VALUE FOR ALL STAKEHOLDERS Portfolio Company Value Enhancement Building on strengths Middle East Access Strategic Partnership Support portfolio company growth Evaluate and enable Abu Dha
Slide 13: Thank You
ADNOC Classification: Public THANK YOU www.adnocdrilling.ae ir@adnocdrilling.ae 13 ADNOC DRILLING
Slide 14: Appendix
ADNOC Classification: Public APPENDIX 14 ADNOC DRILLING
Slide 15: Now Presents a Unique Opportunity
ADNOC Classification: Public NOW PRESENTS A UNIQUE OPPORTUNITY ATTRACTIVE MACRO-ECONOMIC SITUATION AND DEAL DYNAMICS Energy Consumption by Sector (quads) Global Demand Outlook Continued forecast for population and energy demand Requiring O&G to play a key role as part of the energy supply as renewab
Slide 16: Gordon Technologies Value Proposition
ADNOC Classification: Public GORDON TECHNOLOGIES VALUE PROPOSITION UNDERPINNED BY CUSTOMER CENTRICITY, MARKET LEADING RELIABILTY AND PATENTED OFFERING Gordon Technologies is a US-based provider of MWD technology, operating Gordon Value Proposition through a unique Original Equipment Manufacture + Se
Slide 17: Tailored JV Governance Structure
ADNOC Classification: Public TAILORED JV GOVERNANCE STRUCTURE ENABLING RESPONSIBLE AND EFFICIENT DECISION MAKING Key Highlights JV Equity Accounting for Shareholders – From Q1 2024 51% 49% Shareholders Board Equal Representation – Intent to maintain the JV’s governance and 3 members 3 members Repres
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