Viridien · EURONEXT:VIRI
Viridien — Q3 2026 Earnings Presentation
27 slides from Viridien's earnings presentation, Nov 3, 2026
Slide 1: Financial Results Q3 2026
FINANCIAL RESULTS Q3 2026 November 3, 2026 viridiengroup.com
Slide 2: Solid cash generation and continued deleveraging, with further evidence of commercial recovery
Solid cash generation and continued deleveraging, with further evidence of commercial recovery Q3 2026 performance Segment revenue GEO back to growth Segment adj. EBITDAs supported by Geoscience $237m EDA and SMO softer $100m Continued deleveraging Further balance sheet Solid Net Cash Flow Net Debt(
Slide 3: Q3 2026 Key business highlights
Q3 2026 Key business highlights cgg.com 3
Slide 4: Geoscience: Quarterly segment revenue back above $110m
GEOSCIENCE Quarterly segment revenue back above $110m Total production ($M) Backlog ($M) Pending bids up high double 427 428 digits YoY External revenues up 351 93 +17% sequentially 123 256 267 216 227 184 Dec 31, 2021 Dec 31, 2022 Dec 31, 2023 Dec 31, 2024 Dec 31, 2025 Sept 30, 2026 142 141 145 334
Slide 5: Advanced reprocessing materially changes subsurface understanding
GEOSCIENCE Advanced reprocessing materially changes subsurface understanding Same underlying streamer dataset Radically different subsurface insight A dry well explained with hindsight 2019 Three major operators drilled a presumed prospect despite 2000 limited visibility below the salt, resulting in
Slide 6: Earth Data: Q3 comparison impacted by exceptional 2025 transfer fees
EARTH DATA Q3 comparison impacted by exceptional 2025 transfer fees, while commercial activity continues to build across emerging and frontier basins Segment revenue ($M) Disciplined multi-client investment $36m -20% YoY Reflecting project mix and phasing capex in Q3 2026 Q3 2025 benefited from sign
Slide 7: Viridien's seismic data library supports Brazil's latest major discoveries
EARTH DATA Viridien’s seismic data library supports Brazil’s latest major discoveries Morpho, Amapa basin Petrobas’ latest discovery in the equatorial margin 2 major recent discoveries drilled 2 on Viridien data 4 Validates library quality Strengthens our position in high potential basins 1 6 2 dept
Slide 8: Challenging market conditions continue to weigh on SMO
SENSING & MONITORING Challenging market conditions continue to weigh on SMO, with further optimization actions under review and mid-term opportunities in sight Segment revenue ($M) Land 119 76 24 26 Q3 2025 Q3 2026 9M 2025 9M 2026 249 Marine 178 67 69 49 56 21 14 Q3 2025 Q3 2026 9M 2025 9M 2026 Q3 2
Slide 9: Q3 2026 Financial performance review
Q3 2026 Financial performance review cgg.com 9
Slide 10: Uneven 9M revenue performance, with Geoscience returning to growth
Uneven 9M revenue performance, with Geoscience returning to growth Segment revenue(1) ($M) 888 • Data, Digital & Energy Transition 249 683 -21% year-on-year 178 313 • Sensing & Monitoring 237 69 639 -28% year-on-year 505 56 244 181 Q3 2025 Q3 2026 9M 2025 9M 2026 10 (1) For IFRS figures, see appendi
Slide 11: Solid Geoscience profitability partly offsets softer activity across other business lines
Solid Geoscience profitability partly offsets softer activity across other business lines and an exceptional 2025 Earth Data comparison Segment adjusted EBITDAs(1) ($M) • Data, Digital & Energy Transition 417 62% adj. EBITDAs margin 30 ▪ GEO: margin at its highest quarterly level of the year 268 ▪ E
Slide 12: Limited IFRS 15 impact in Q3, while 9M uplift mainly reflects Laconia completion
Limited IFRS 15 impact in Q3, while 9M uplift mainly reflects Laconia completion Segment (in millions of $) Q3 2026 Q3 2025 9M 2026 9M 2025 Revenue 237 313 683 888 IFRS 15 impact EBITDAs 100 167 260 417 ▪ On revenue and EBITDAs: c.+$150m of Laconia Operating Income 19 93 27 179 impact in Q2 upon pro
Slide 13: Working capital normalization and disciplined investment support higher Net Cash Flow
Working capital normalization and disciplined investment support higher Net Cash Flow despite lower EBITDAs 9M 2025 to 9M 2026 Net Cash Flow bridge ($M) Strong EDA collection and full collection of 62 outstanding PEMEX 67 receivables +4 +44 +1 +104 Lower EDA capex, Cost of debt broadly partly offset
Slide 14: Net debt reduced to $656m, with further early bond redemption announced
Net debt reduced to $656m, with further early bond redemption announced for November Net debt excluding IFRS 16 ($M) 778 735 656 Gross debt excluding IFRS 16 ($M) 1,080 Next deleveraging action 908 31 861 ▪ Further partial early redemption of the euro- 13 21 denominated notes 601 ▪ c. $48m equivalen
Slide 15: Outlook
OUTLOOK cgg.com 15
Slide 16: Outlook: $100m of Net Cash Flow
Outlook Market outlook FY 2026 objective Mature basins remain supportive Infrastructure-led exploration and optimization of existing fields continue to Confirmed sustain demand for high-end imaging Frontier and emerging basins gaining momentum $100m E&Ps are advancing projects and positioning to sec
Slide 17: Appendices
APPENDICES cgg.com 17
Slide 18: Financial calendar
Financial calendar February 25, 2027 (after market) May 4, 2027 (after market) FY 2026 results Q1 2027 results July 29, 2027 (after market) November 3, 2027 (after market) Q2 2027 results Q3 2027 results 18
Slide 19: Shareholding Structure (end of September 2026)
Shareholding Structure (end of September 2026) Total number of shares FIL Investments International 7,219,747 Retail 10% investors 30% Other professional 60% investors 90% Free float 19
Slide 20: Resilient, cycle-proof revenue performance
GEOSCIENCE Resilient, cycle-proof revenue performance Low historic volatility ($M) ✓ Well diversified client base, both geographically and by type (~17%) peak to trough adjusted for disposals ✓ Significant exposure to resilient development and production revenues 444 396 385 404 351 328 335 269 284
Slide 21: Premier sub-surface imaging capabilities with a global footprint
GEOSCIENCE Premier sub-surface imaging capabilities with a global footprint Global footprint of imaging centers Computing power (PFLOPS) Stavanger x2 Moscow Oslo Calgary London Paris Pau Vienna Beijing Cairo Houston Abu Dhabi Mumbai Villahermosa Oman Kuala Lumpur 765 Singapore Brunei 690 Jakarta 510
Slide 22: Technologically advanced, up-to-date data library in the most prolific basins
EARTH DATA Technologically advanced, up-to-date data library in the most prolific basins globally ~$0.35bn net book value 1.4m km² 3D seismic data 17,522 km² OBN 3D seismic data Explore Viridien’s Geostore https://geostore.viridiengroup.com/ 22
Slide 23: Key segment P&L figures
Key segment P&L figures (in millions of $) Q3 2026 Q3 2025 Change (%) 9M 2026 9M 2025 Change (%) €/$ exchange rate 1.16 1.16 0% 1.17 1.11 +6% Segment revenue 237 313 -24% 683 888 -23% DDE 181 244 -26% 505 639 -21% Geoscience 112 108 +3% 305 334 -8% Earth Data 69 136 -49% 200 306 -35% SMO 56 69 -18%
Slide 24: Other KPIs
Other KPIs (in millions of $) Q3 2026 Q3 2025 Change (%) 9M 2026 9M 2025 Change (%) Geoscience backlog 267 290 -8% 267 290 -8% Total capex 47 54 -12% 138 173 -20% Earth Data library net book value 345 534 -35% 345 534 -35% 24
Slide 25: Reconciliation IFRS vs Segment
Reconciliation IFRS vs Segment (in millions of $) Q3 2026 9M 2026 IFRS 15 IFRS 15 Segment IFRS Segment IFRS adjustments adjustments Revenue 237 -2 236 683 +88 771 EBITDAs 100 -2 98 260 +88 348 Non-recurring charges and gains 0 0 9 9 Adjusted EBITDAs 100 -2 98 268 +88 356 Operating Income 19 -7 13 27
Slide 26: Disclaimer
Disclaimer This presentation contains forward-looking statements, including, without limitation, statements about Viridien (“the Company”) and its plans, strategies, and prospects. These forward-looking statements are subject to risks and uncertainties that may change at any time, and, therefore, th
Slide 27: viridiengroup.com
viridiengroup.com