Slide 1: Noble Corporation plc Fourth Quarter 2022 Earnings Conference Call
Noble Corporation plc Fourth Quarter 2022 Earnings Conference Call February 27th, 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”) business, financial performance and position, contracts and prospects. Words such as "anticipate," "beli
Slide 3: Summary: A Transformational Year for Noble
Summary: A Transformational Year for Noble Significant scale, expertise, and elite fleet positioning acquired through business combination with Maersk Drilling $400 million share repurchase program authorized in Q4 2022, nearly $100 million repurchased through Jan 2023 1 On track to capture $125 mil
Slide 4: Fourth Quarter Financial Highlights
Fourth Quarter Financial Highlights Adjusted EBITDA $157M Capital expenditures $77M Free cash flow $106M Net debt $197M Backlog $3.9B Liquidity $1.1B Adjusted EBITDA margin 26% Leverage 0.3x 4
Slide 5: Current Backlog Stands at $3.9 Billion
Current Backlog Stands at $3.9 Billion 600 1,800 300 900 0 1,200 1,500 2023 2024 2025 2026 2027 175206 1,657 1,113 744 Jackups Floaters 63% 37% 8% 6%24% Percentage of available days committed1 Backlog ($M) and Contract Coverage 1) Committed days on total marketed fleet, excluding cold stacked rigs,
Slide 6: Deepwater Fleet Overview
Deepwater Fleet Overview 2023 2024 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Noble Voyager (7g dual BOP) Noble Tom Madden (7g dual BOP) DRILLSHIPS Noble Venturer (7g dual BOP) Noble Faye Kozack (7g dual BOP) Noble Viking (7g) Noble Gerry de Souza (6g dual BOP) Noble Bob Douglas (7g dual BOP) Pacific Scirocco (6g) – c
Slide 7: Jackup Fleet Overview
Jackup Fleet Overview 2023 2024 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Noble Integrator (CJ70) Noble Innovator (CJ70) Noble Highlander (JU-2000E) Noble Tom Prosser (JU-3000N) Noble Resolute (CJ50) HARSH ENVIRONMENT Noble Interceptor (CJ70) Noble Reacher (CJ50) Noble Resilient (CJ50) ULTRA HARSH ENVIRONMENT Noble I
Slide 8: Financial Overview ($ millions)
Financial Overview ($ millions) Quarter End 12/31/2022 Quarter End 9/30/2022 Full Year End 12/31/2022 Revenue 623 306 1,414 Adjusted EBITDA 157 97 366 margin % 25% 32% 26% Net Income 135 34 168 Diluted EPS 0.92 0.41 1.73 Cash flow from operations 171 74 281 Cash paid for capital expenditures 65 30 1
Slide 9: 2023 Guidance
2023 Guidance 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 10
Slide 11: Slide 11