Slide 1: 3Q22 Earnings Presentation
NYSE & OSE: SDRL 3Q22 Earnings Presentation
Slide 2: Disclaimer
Disclaimer We have prepared this document solely for informational purposes. You should not definitively rely upon it or use it to form the definitive basis for any decision, contract, commitment or action whatsoever, with respect to any proposed transaction or otherwise. The information contained h
Slide 3: 3Q22 at a glance
3Q22 at a glance $269m $71m Q3 operating revenues(1) Q3 adjusted EBITDA(2) $349m ~$700m Total consideration of Saudi Q3 cash & cash equivalents(1) jack-ups, ready-to-drill basis(3) $442m 17 Prepaid 2L principal debt, with Rigs in operation, meaningful interest savings(3) incl. 12 in the Golden Trian
Slide 4: Premium backlog position
Premium backlog position Solid earnings visibility… …with assets across key geographies Total Order Backlog(1) per year, $’million 1200 Harsh Environment Floaters (2) Other 1000 $1.8bn $0.6bn 800 Golden Triangle Norway 600 400 200 $0.3bn $1.1bn $0.4bn 0 2022 (3) 2023 2024 2025 Thereafter US Gulf of
Slide 5: Market overview
Market overview E&P spending expected to be buoyant in coming years Benign UDW fixtures reflect tightening market dynamics(1) Benign UDW floater fixtures Marketed utilization Drillships marketed utilization USDbn USDkpd 520 700 100% 500 480 650 CAGR 95% 460 11% 440 600 420 90% 550 400 380 500 85% 36
Slide 6: 3Q22 Financial Review
Seadrill 3Q22 Financial Review
Slide 7: Revenue and EBITDA performance
Revenue and EBITDA performance Quarterly performance in line with guidance and expectations As a result of the sale of seven jack-ups to ADES, which completed in October 2022, in accordance with US GAAP, these rigs have been reclassified as a discontinued operation and its results have been presente
Slide 8: Balance sheet and capital structure
Balance sheet and capital structure Evolving balance sheet, with major investment in high-spec units Significant deleveraging post quarter end Gross principal debt(3), $’million In $’million(1) September 30, 2022 June 30, 2022 ~50% Cash and cash equivalents 224 334 Convert. Note 1L Term Loan(4) Rest
Slide 9: Revenue, EBITDA and CAPEX guidance for FY22
Revenue, EBITDA and CAPEX guidance for FY22 $1.115bn - $1.125bn $245m - $265m $280m - $300m CAPEX and Total Revenue Total Adjusted EBITDA long-term maintenance Guidance notes 1. Full Year 2022 Guidance is a non-GAAP financial measure, including predecessor period. Operating results include seven Jac
Slide 10: Strategic Initiatives in 2022
Strategic initiatives in 2022 Strategic Initiatives in 2022 10
Slide 11: Value creation initiatives and milestones
Value creation initiatives and milestones Series of strategic initiatives, demonstrating readiness to capitalize on opportunities to maximize shareholder value April September October October October/November November 2023 → 2022 2022 2022 2022 2022 2022 Path forward ▪ Commenced ▪ Announced the ▪ Su
Slide 12: Seadrill Q&A
Seadrill Q&A