Slide 1: Q2 2025 Presentation
Q2 2025 Presentation w/ Lars Peder Solstad, CEO and Kjetil Ramstad, CFO 14 July 2025
Slide 2: Disclaimer
Disclaimer Important information Cautionary note regarding forward-looking statements. This presentation, prepared by Solstad Maritime ASA (the "Company"), may include forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which i
Slide 3: 2Q 2025 Highlights | Business update
2Q 2025 Highlights | Business update Business update Solstad Maritime ASA listed on Euronext Oslo Børs on 16 May 2025. Market capitalization at quarter end of USD ~1,1 billion1 Market update The long-term demand within offshore-energy services remains positive Utilization of 78% in the quarter com
Slide 4: Market Update
Market Update GLOBAL PRESENCE The long-term demand within offshore- energy services remains positive Office locations Solstad Offshore supporting offices The current subsea market is characterized by a more competitive project market, with a typical contract duration of 1-6 months 4 Reduced ac
Slide 5: Strengthening backlog and earning visibility
Strengthening backlog and earning visibility Firm backlog per year Firm-/option days per year Backlog, order intake and book-to-bill EBITDA OPEX Firm-/option days AHTS spot/project fleet Available days Backlog Order intake Book to bill USDm Days USDm 2.8x 0.4x 1.6x 0.8x 1.8x 300 12 000 1 000 267 929
Slide 6: Solstad Maritime | Q2 Financial Highlights
Solstad Maritime | Q2 25 Financial Highlights NIBD overview as per 30.06.2025, USDm 800,0 700,0 4,699 (98,492) 600,0 29,281 Q2: 78% (82%) 500,0 Utilization Backlog 929 (848) YTD: 79% (85%) 400,0 686,0 300,0 592,207 621,488 200,0 Q2: 152 (140) Book 808 - 49% 100,0 Revenue equity YTD: 279 (266) (650 -
Slide 7: Updated 2025 financial guiding
Updated 2025 financial guiding Updated 2025 guiding Previous 2025 guiding • 2025 Adjusted EBITDA guidance narrowed. Upper range reduced due to lower utilization in 1H and the effect of Adjusted EBITDA USD 360 – 380m USD 360 – 390m mobilizations for upcoming contracts in Brazil • 2H25 Adjusted EBITDA
Slide 8: Dividend key dates
Dividend key dates Distributes cash dividend for Q2 2025 of USD 0.075/share, totaling USD ~35 million. The dividend will be paid in NOK and the amount in NOK will be announced prior to dividend payment Key dates regarding Q2 2025 dividend: o Last day incl. right to dividend: 14 July 2025 o Ex-da
Slide 9: Summary
Summary A quarter influenced by extraordinary high maintenance activity Activity remain at a high level with many prospects, but in a more competitive market High tendering and award activity in Brazil where local presence is the key enabler Strong order intake and increased visibility for 2025 and
Slide 10: Appendix
Appendix
Slide 11: Solstad Maritime | Income Statement & Adjusted EBITDA
Solstad Maritime | Income Statement & Adjusted EBITDA Unaudited 2025 2024 2025 2024 Unaudited 2025 2024 2025 2024 USDm 01.04-30.06 01.04-30.06 01.01-30.06 01.01-30.06 USDm 01.04-30.06 01.04-30.06 1.1-30.06 01.01-30.06 Charter income and Total operating income 152 140 297 266 other operating income 1
Slide 12: Solstad Maritime | Balance sheet
Solstad Maritime | Balance sheet Unaudited 2025 2024 2024 Unaudited 2025 2024 2024 USDm 30.06 30.06 31.12 USDm 30.06 30.06 31.12 ASSETS EQUI TY AND LI ABI LI TI ES Non-current assets Equity Deferred tax assets 53 0 52 Paid-in equity 503 582 560 Tangible fixed assets 1,112 1,055 1,085 Other equity 30
Slide 13: Solstad Maritime | Cash Flow Statement
Solstad Maritime | Cash Flow Statement Unaudited 2025 2024 2024 USDm 30.06 30.06 31.12 CASH FLO W FROM OPERATI ONS Result before tax 94 90 204 Taxes payable (0) 1 1 Depreciations, impairments and reversal of impairments 38 23 21 Gain (-)/loss non-current assets (0) (6) (8) Interest income (11) (11)
Slide 14: Alternative Performance Measures (APM)
Alternative Performance Measures (APM) Solstad Maritime ASA refers to alternative performance measures with regards to its financial results as a supplement to the financial statements prepared in accordance with IFRS. Such performance measures are frequently used by securities analysts, investors a