Arabian Drilling Co. · TADAWUL:2381
Arabian Drilling — Q3 2025 Earnings Presentation
18 slides from Arabian Drilling's earnings presentation, Nov 3, 2025
Slide 1: Q3 / 9M 2025 Earnings Call
Q3 / 9M 2025 EARNINGS CALL 3 November 2025 15.00 KSA
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Arabian Drilling (the “Company” or “AD”) 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 purposes. It should not be construed
Slide 3: In Today's Presentation
In Today’s Presentation Ghassan Mirdad Farid Mustafayev Bassem ElShawy Chief Executive Officer Chief Financial Officer IR & Communications Director With over 25 years of experience in the oil & gas Farid joined Arabian Drilling in October 2025 with Boasting over 24 years of experience in financial s
Slide 4: 9M 2025 Financial Highlights
9M 2025 Financial Highlights (SAR M, Versus 9M 2024) 2,609M 977M 37.4% Revenue, -5.8% EBITDA, -15.1% EBITDA Margin, -4.1 ppts 73M 929M 2.0X Net Income, -70.8% Operating Cash flow, -17.1% NET DEBT / TTM EBITDA * Before working capital changes 4
Slide 5: Q3 2025 Financial Highlights
Q3 2025 Financial Highlights (SAR M, Versus Q2 2025) 835M 293M 35.1% Revenue, -3.1% EBITDA, -3.0% EBITDA Margin, 0.0 ppts -9.4M 276M 2.0X Net Income, -225.8% Operating Cash flow, -5.5% NET DEBT / TTM EBITDA * Before working capital changes 5
Slide 6: 9M / Q3 2025 Highlights
9M / Q3 2025 Highlights 10,976M 73.8% 1.07% 0.39 54 5Rigs BACKLOG UTILIZATION NPT - YTD TRIF RIG MOVES RECALLED 6.8% YoY Q3 ‘25 (Post-period event) • Stable visibility • 45 active rigs / 61 • Maintaining NPT • Based on 1 • Lower rig move • 3 land and 2 • 2.4 years contract available level million ma
Slide 7: Backlog & Utilization Rate
Backlog & Utilization Rate +6.8% -0.7% 11,052 10,976 SAR, m Backlog of SAR 10,976 Bn 10,278 10,267 9,524 38% • Robust backlog with a stable visibility: 57% 59% 64% 59% o Average remaining contracts tenure: 2.4 years o Strong book-to-bill ratio 3.2x 62% 43% 41% 41% 36% • Backlog value in Q3'25 is 6.8
Slide 8: 2025 Contract Renewals
2025 Contract Renewals -22 24 23 3 1 Annual 21 22 • 22 out of 24 rig contracts were renewed, demonstrating strong 5 client relationships, remaining two in final negotiation stage. 2 3 4 1 1 0 3 1 Q1 ’25 Q3 ’25 2026 2027 2028 • 23 rig contracts scheduled for renewal in 2026, all undergoing Land Offsh
Slide 9: 9M 2025 Versus 9M 2024
9M 2025 Versus 9M 2024 -5.8% -15.1% • Revenue (-5.8%): Mainly due to rig 9.1% 2,769 2,609 41.5% 37.4% suspensions, partially offset by unconventional rig deployments. 1,150 -70.8% • EBITDA (-15.1%; -4 ppts): 977 2.8% Impacted by shift in activity mix 251 and discounted rates. 73 • Net Income (-70.8%
Slide 10: Q3 2025 Versus Q2 2025
Q3 2025 Versus Q2 2025 -3.1% -3.0% • Revenue (-3.1%): Reduced rig 862 -225.8% activity during Q3, offset by the 835 35.1% 35.1% start of the newly acquired SESV** 7 0.9% 303 293 • EBITDA (-3.0%; 0 ppts): In line with activity -1.1% • Net Loss of SAR 9m: in line with -9 reduced EBITDA and one-off Q2
Slide 11: Segment Analysis
Segment Analysis 4,500 45 50 1,000 40 Land Segment Revenue and GP % 1,400 4,000 42% 35 1,200 35% 35% 40 37% 2,500 50 3,500 40 800 +16.7% 35 -5.2% 30 1,000 3,000 2,769 617 2,000 1,863 40 862 835 30 2,609 600 585 25 30 1,597 800 2,500 25 20 1,500 30 600 2,000 20 58% 400 72% 70% 71% 20 11.0% 15 1,500 1
Slide 12: Net Income Bridging
Net Income Bridging Net Loss of SAR 9m driven by lower revenue and one-off deferred tax impact 7 • Revenue: Impact due to lower rig activity with continued suspension in Q3 (27) -9 • Deferred Tax: higher deferred tax provision, due to increased fixed 15 assets base. (7) • SG&A reduction: continued e
Slide 13: Cash On Hand Bridging
Cash On Hand Bridging Relatively low Cash on hand, mainly due to minor collection delays - fully recovered in October (98) • Capex: completion of the investment for unconventional rigs 238 and SESV 494 (191) (9) • Net Working Capital: (81) 349 • AR increased in Q3 due to (71) 66 delayed client colle
Slide 14: Strong Debt Profile – Prudent Leverage and Strategic Flexibility
Strong Debt Profile – Prudent Leverage and Strategic Flexibility • Net debt remains stable at SAR 2.7 bn +1.7% +2.2% • Marginal YoY increase mainly due 3,000 3.03,000 3.0 2,659 2,703 2,646 2,703 to 300m bank loan drawn in Q1 2,500 2.52,500 2.5 2.0 2.0 • Slight QoQ uptick mainly due to 1.9 2,000 2.02
Slide 15: Q4 2025 Outlook & Guidance
Q4 2025 Outlook & Guidance For Q4 2025, we project our revenue to remain flat compared to Q3 2025, with a potential decline of up to 5%: • Full effect of suspended rigs in Q3 2025, reflected in Q4 2025 • Partially counterbalanced by expected increase in rig move activity CAPEX for the full year 2025
Slide 16: Questions And Answers
Questions And Answers Investor Relations contacts: Bassem ElShawy – bshawy@arabdrill.com, Sarah AlQahtani – salqahtani@arabdrill.com 16
Slide 17: Appendix
Appendix This document and the information contained in it are given in confidence and are only to be used by the disclosing party and the receiving party to explore business opportunities relating to Arabian Drilling; they may not be disclosed to third parties or used for any other purpose without
Slide 18: Fleet Analysis
Fleet Analysis Total Available Fleet Active Fleet Inactive Fleet 61 61 49 16 48 57 2 2 1 2 45 1 1 7 2 10 10 6 13 11 6 1 5 4 8 3 1 49 49 41 40 3 45 37 4 7 5 3 0 Q3 ’24 Q2 ’25 Q3 ’25 Q3 ’24 Q2 ’25 Q3 ’25 Q3 ’24 Q2 ’25 Q3 ’25 Land rig SESV Land rig SESV Susp’d (Land) Uncont’d (Land) Offshore rig Offsho