Seadrill Limited · NYSE:SDRL
Seadrill — Investor Presentation (January 2024)
11 slides from Seadrill's investor presentation, January 2024
Slide 1: Investor Presentation January 2024
Investor Presentation January 2024
Slide 2: Forward-looking statements and disclaimer
Forward-looking statements and disclaimer This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. All statements other than statements of historical facts included in this communication, including, without li
Slide 3: Seadrill at a glance
Seadrill at a glance Market Q3 Adj. Floater & HE Capitalization1 EBITDA Fleet $3.5B $151M 17 rigs 3 Share Q3 Adj. EBITDA Order Buybacks2 Margin Backlog4 $274M 36.5% $3.1B equates to ~8% of market cap 1 Market capitalization as of January 5, 2024; 2 Share repurchases as of January 5, 2024; 3 Includes
Slide 4: Seadrill achieves strength through scale
Seadrill achieves strength through scale $3.5B market cap1 leading deepwater driller operates 17 rigs2 clustered in three primary geographies Fleet refinement Market selection Capital discipline Modern, floater-focused fleet “Golden Triangle Plus” Thoughtful value creation Move towards pure-play, Co
Slide 5: Equity performance reflects efforts to simplify and strengthen SDRL
Equity performance reflects efforts to simplify and strengthen SDRL We have consistently executed on our stated strategy, driving shareholder value Peer group equity performance Strategic initiatives Rebased as of Jan 2023 250 SDRL Peer A Peer B Peer C Peer D ✓ Broadened investor base and improved l
Slide 6: Low implied UDW values providing equity uplift potential
Low implied UDW values providing equity uplift potential Still priced significantly below replacement cost and previous upcycle Current low implied values1 per modern UDWs… … providing significant support for strong equity uplift potential Trading Peers - Implied UDW Equivalent Value ($M) UDW Equiva
Slide 7: Fleet strategically located in high demand, resilient regions
Fleet strategically located in high demand, resilient regions Golden Triangle, with Brazil in the lead, will be key for future demand growth for UDWs Active rig fleet1 and floater demand (rig years) by region US Gulf of Mexico Norway Drillship Semi-submersible HE jackup 3 1 1 1 Region Type # CAGR +3
Slide 8: Smooth contract rollover profile
Smooth contract rollover profile Enhanced earnings visibility through recent awards, with further repricing catalysts approaching Excerpted Fleet Status Report1 Active floaters and harsh environment (HE) units only 2024 2025 2026 2027 RIG TYPE LOCATION Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 9: Capital discipline
Capital discipline Capital allocation priorities lead to thoughtful value creation across the cycle 1 Defend best-in-class 2 Maintain competitive rig 3 Explore accretive growth 4 Return capital to balance sheet fleet opportunities shareholders Prioritize financial strength with Deliver safe, efficie
Slide 10: Seadrill
Seadrill
Slide 11: Appendix A: FY23 Guidance
APPENDIX A: FY23 GUIDANCE Total Operating Revenues $1,495-1,515M Adjusted EBITDA $485-505M Capital Expenditures & Long-Term Maintenance $185-205M Footnote: Full year 2023 guidance as per November 27, 2023 (published as part of SDRL’s 3Q23 earnings). 11