Vantage Drilling International Ltd · OSL:VDI
Vantage Drilling International — Investor Presentation (March 2024)
24 slides from Vantage Drilling International's investor presentation, March 2024
Slide 1: Vantage Drilling International March 2024
Vantage Drilling International March 2024 May 2021 Q2 2021
Slide 2: Disclaimer
Disclaimer This presentation is being provided solely for use by the recipient in making its own evaluation of Vantage Drilling International Ltd. (the “Company”), its business, assets and financial condition, and may not be disclosed, distributed, copied, reproduced or used for any purpose other th
Slide 3: Agenda
Agenda 1. 1 Company overview 2. 2 Operating Performance and Updates 3. 3 TotalEnergies JV and Path Forward 4. 4 Appendix: Relevant Corporate Matters 3
Slide 4: Company Overview
Company Overview VANTAGE
Slide 5: Vantage Drilling at a glance
Vantage Drilling at a glance Overview • Headquarters in Dubai with offices in Houston and Singapore • Providing offshore drilling services through owned-and-operated fleet and third-party managed-fleet • Owned fleet of 2 Jackups and 2 Drillships • In process of forming a Joint Venture with TotalEner
Slide 6: Vantage Drilling at a glance: Fleet
Vantage Drilling at a glance Fleet Jack-Ups Topaz Driller (2009) Soehanah (2007) Aquamarine Driller (2009) Sapphire Driller (2009) Emerald Driller (2008) EDC Supported Fleet (1) Floaters Tungsten Explorer (2013) Platinum Explorer (2010) Aquarius (2009) Capella (2008) Polaris (2008) Future JV with To
Slide 7: Modern Fleet: Drillships
Modern Fleet: Drillships Platinum Explorer Tungsten Explorer Capella Polaris Type: Drillship Drillship Drillship Drillship Generation: UDW (6th gen) UDW (6th gen) UDW (6th gen) UDW (6th gen) Built: 2010 2013 2008 2008 Yard: DSME DSME Samsung Samsung Water depth (1): 12,000ft 12,000ft 10,000ft 10,000
Slide 8: Modern Fleet: Jackups
Modern Fleet: Jackups Emerald Driller Sapphire Driller Aquamarine Driller Topaz Driller Soehanah Type: Jackup Jackup Jackup Jackup Jackup Generation: Premium Premium Premium Premium Premium Built: 2008 2009 2009 2009 2007 Yard: PPL PPL PPL PPL PPL Baker Marine Pacific Baker Marine Pacific Baker Mari
Slide 9: Presence in Key Offshore Regions
Presence in Key Offshore Regions Platinum Explorer India Foxtrot Ivory Coast Aquamarine Driller Qatar Sapphire Driller Qatar Houston Emerald Driller Dubai Capella Qatar (HQ) Indonesia Fleet and offices Singapore 6 Managed/Supported Rigs Soehanah Indonesia 2 Owned Jackups 2 Owned Drillships Tungsten
Slide 10: Senior Management
Senior Management Ihab Toma Rafael Blattner Douglas Stewart Guy Dawson-Smith Doug Halkett Chief Executive Officer Chief Financial Officer General Counsel & VP Operations Senior Advisor to CEO Corporate Secretary Linda Ibrahim Ali Semple Derek Massie Bill Thomson Wayne Bauer VP Tax VP Marketing VP Hu
Slide 11: Operating Performance and Update
Operating Performance and Update
Slide 12: Clear Strategy: Companywide Focus Areas - WIGs
Clear Strategy: Companywide Focus Areas - WIGs A self-funding platform achieving margin accretive fleet utilization and fully satisfied clients by following our Wildly Important Goals (WIGs): Maintain world class safety and operational performance Achieve excellent stakeholder returns 12
Slide 13: WIG1: Safety & Operations Differentiation
WIG1: Safety & Operations Differentiation Focus on safety is visible in the incident rate trends Note: 13 TRIR is defined as number of recordable incidents (FTL, LTI, MTO and TWTC) x 200,000 / work hours. LTIR defined as number of LTI x 200,000 / work hours..
Slide 14: WIG2: Contracting of Entire Fleet at Higher Dayrates
WIG2: Contracting of Entire Fleet at Higher Dayrates Utilization across the fleet 14
Slide 15: WIG2: Contracting of Entire Fleet at Higher Dayrates
WIG2: Contracting of Entire Fleet at Higher Dayrates Renewed focus on improving dayrates Owned Rigs Clients Contract Dayrate USD Mob/Demob Fee USD Jackups (Vantage) Topaz Driller Foxtrot (6) Firm (2x30) $ 125,000 $ 7,350,000 CPOC (7) Firm (730) $ 125,000 $ 32,850,000 CPOC Option 1 (90) Unpriced CPOC
Slide 16: WIG2: Customer Focus - Repeat Business
WIG2: Customer Focus - Repeat Business National Oil Companies, Majors, Independents Operational excellence and Customer Focus resulting in repeat business 16
Slide 17: TotalEnergies JV And Path Forward
TotalEnergies JV And Parth Forward
Slide 18: Sale of the Tungsten Explorer
Sale of the Tungsten Explorer Total “Vessel Sale” Consideration: $265m • 75% TTE JV Ownership: $198.75m paid in cash • 25% Vantage JV Ownership: $66.25m Customary Conditions Precedent (‘CPs’): • Rig Due Diligence • JV Formation Gating Items: • Execution of Definitive Agreements • Completion of CPs •
Slide 19: Management Fee & High-Level Structure
Management Fee & High-Level Structure TTE JV Shareholder Step 3: Step 4: Vantage Joint Venture Rig Owner Average Management Fee Remaining JV Free Cash Flows post steps Manager 75% TTE / 25% Vantage $47.5k per day 1, 2 and 3 are returned to Shareholders Vantage JV Shareholder Step 2: Variable Rate Ch
Slide 20: Proforma VDI Balance Sheet & Debt Pay down
Proforma VDI Balance Sheet & Debt Pay down USD Millions Actual Sept 30, 2023 Post-Transaction Proforma Debt Pay down: ~199 at par ~1 at make-whole amount 100 Equity Accretion 20
Slide 21: Well-positioned Operationally and Financially
Well-positioned Operationally and Financially Continue Operational Focus • Drive for zero incidents and maximum uptime • Re-contract rigs on higher dayrates • Grow the Managed Services Business • Maintain efficient platform well positioned for the long-haul Strategic options • Unlock opportunities t
Slide 22: A Perfect Day, Every Day
Aww SVS LBD ASD coe mre 5 a eee oY, me = Se za st oS E A Perfect Day, Every Day v ' SIZ INIG<7 baka : eS rN ta R VANTAGE
Slide 23: Appendix: Relevant Corporate Matters
Appendix: Relevant Corporate Matters
Slide 24: Corporate Matters– from Cayman to Bermuda
Vantage Drilling International Corporate Matters– from Cayman to Bermuda • On February 12, 2024, Vantage Drilling International, after receiving Shareholder approval, migrated from the Cayman Islands to Bermuda, becoming Vantage Drilling International Ltd. • On or about March 31, 2024, Vantage Drill
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