Slide 1: Second Quarter 2023 Earnings Conference Call
Noble Corporation plc Second Quarter 2023 Earnings Conference Call August 3rd, 2023
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer Forward-Looking Statements This presentation and the conference call to which it pertains contains “forward-looking statements” about Noble Corporation plc’s (“Noble” or the “Company”) within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, as amended.
Slide 3: Summary
Summary Q2 Adjusted EBITDA of $188M, Free Cash Flow of $104M Sequential EBITDA growth from increasing dayrates $0.8B in new contracts since last quarter Faye Kozack in Brazil, Deliverer in Australia, Voyager in Mauritania, Discoverer in Suriname, Viking in Malaysia, Intrepid in the UK 2023 Guidance
Slide 4: Second Quarter Financial Highlights
Second Quarter Financial Highlights Adjusted EBITDA $188M $138M Capital expenditures $107M $63M Free cash flow $104M ($126M) Net debt $330M $334M Backlog $5.0B $4.6B Liquidity $805M $736M Adjusted EBITDA margin 1 29% 23% Leverage 0.5x 0.6x 4 Prior quarter figures for Q1 2023 shown below 1) Adjusted
Slide 5: Current Backlog Stands at $5.0 Billion
Current Backlog Stands at $5.0 Billion 600 0 1,500 300 900 1,200 1,800 1,588 2023 2024 2025 2026 2027 855 1,179 905 428 Floaters Jackups 67% 51% 24% 12%33% Percentage of available days committed1 Backlog ($M) and Contract Coverage 1) Committed days on total marketed fleet, excluding cold stacked rig
Slide 6: Deepwater Fleet Overview
Deepwater Fleet Overview 2023 2024 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Noble Bob Douglas (7g dual BOP) Noble Globetrotter I (6g) DRILLSHIPS Noble Don Taylor (7g dual BOP) Noble Sam Croft (7g dual BOP) Noble Venturer (7g dual BOP) Noble Viking (7g) Noble Tom Madden (7g dual BOP) Noble Stanley Lafosse (7g dual BO
Slide 7: Jackup Fleet Overview
Jackup Fleet Overview 2023 2024 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Noble Reacher (CJ50) Noble Integrator (CJ70) Noble Resolute (CJ50) Noble Resolve (CJ50) Noble Interceptor (CJ70) Noble Tom Prosser (JU-3000N) Noble Intrepid (CJ70) Noble Mick O’Brien (JU-3000N) ULTRA HARSH ENVIRONMENT Noble Resilient (CJ50) Nob
Slide 8: Financial Overview
Financial Overview ($ millions) Quarter End 6/30/2023 Quarter End 3/31/2023 Revenue 639 610 Adjusted EBITDA 188 138 margin % 29% 23% Net Income 66 108 Diluted EPS 0.45 0.74 Cash flow from operations 211 (63) Cash paid for capital expenditures 107 63 Free cash flow 104 (126) Net debt 1 330 334 Levera
Slide 9: 2023 Guidance (unchanged)
2023 Guidance (unchanged) Revenue 2,350 - 2,550 Adjusted EBITDA 725 - 825 Capital expenditures, net 325 - 365 $ millions 9
Slide 10: Appendix: Reconciliation to GAAP Measures
Appendix: Reconciliation to GAAP Measures Reconciliation of Adjusted EBITDA Three Months Ended June 30, Three Months Ended 2023 2022 March 31, 2023 Net income (loss) $ 65,816 $ 37,057 $ 108,063 Income tax (benefit) provision (671) 3,908 (15,804) Interest expense, net of amounts capitalized 14,662 7,
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