Slide 1: Fourth Quarter 2024 Earnings Conference Call
Noble Corporation plc Fourth Quarter 2024 Earnings Conference Call February 18, 2025
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer Forward-Looking Statements This communication includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, as amended. All statements other than statements of historical facts included in this communication are forward
Slide 3: Summary
Summary Robust Return of Capital Program $50M in Q4 buybacks ($300M in 2024), >6% dividend yield Approximately $525M in New Contracts Since Last Quarter Venturer, Developer, Globetrotter I, Gerry de Souza, Patriot, Innovator, Apex 2025 Outlook: Adjusted EBITDA $1,050M-$1,150M Total Revenues $3,250-$
Slide 4: Fourth Quarter Financial Highlights
Fourth Quarter Financial Highlights Adjusted EBITDA $319M $291M Capital expenditures, net of insurance proceeds $134M $119M Free cash flow $2M $165M Net debt $1,733M $1,590M Backlog $5.8B $6.2B Liquidity $773M $918M Adjusted EBITDA margin 34% 36% Leverage 1.4x 1.4x 4 Prior quarter figures for Q3 202
Slide 5: Current Backlog Stands at $5.8 Billion
Current Backlog Stands at $5.8 Billion 2025 2026 2027 2028 Floaters Jackups 55% 35% 9%20% Percentage of available days committed1 Backlog ($B) and Contract Coverage 5 2.4 1.9 1.0 0.5 1) Committed days on total marketed fleet of 38 rigs, excluding two retired rigs, per 2/17/2025 fleet status report 2
Slide 6: Drillship Fleet Overview
2024 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Noble Faye Kozack (7g dual BOP) Noble Stanley Lafosse (7g dual BOP) Noble Venturer (7g dual BOP) Noble Valiant (7g dual BOP) Noble Sam Croft (7g dual BOP) Noble Don Taylor (7g dual BOP) Noble BlackRhino (7g dual BOP) Noble Gerry de Souza (6g dual BO
Slide 7: Semisubmersible Fleet Overview
2024 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Noble Discoverer (6g) Ocean GreatWhite (HE 6g) Ocean Courage (6g) Ocean Apex (5g) Noble Patriot (HE 3g) Noble Developer (6g) Noble Deliverer (6g) Ocean Endeavor (HE 5g) 7 Semisubmersible Fleet Overview Recent Highlights • Developer: three wells (est
Slide 8: Jackup Fleet Overview
2024 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Noble Reacher (CJ50) Noble Invincible (CJ70) Noble Resolve (CJ50) Noble Highlander (JU-2000E) Noble Resilient (CJ50) Noble Intrepid (CJ70) Noble Tom Prosser (JU-3000N) Noble Mick O’Brien (JU-3000N) Noble Regina Allen (JU-3000N) Noble Integrator (CJ7
Slide 9: Financial Overview
Financial Overview Quarter End 9/30/2024 Quarter End 12/31/2024 ($ millions) 801927Revenue 291319Adjusted EBITDA 36%34%margin % 6197Net Income 0.400.59Diluted EPS 284136Cash flow from operations 119134Cash paid for capital expenditures, net of proceeds from insurance claims 1652Free cash flow 1,5901
Slide 10: Full Year 2025 Guidance
Full Year 2025 Guidance Revenue 3,250 – 3,450 Adjusted EBITDA 1,050 – 1,150 Capital Expenditures, net of reimbursements 375 – 425 $ millions 10
Slide 11: Appendix: Reconciliation to GAAP Measures
Appendix: Reconciliation to GAAP Measures 11 Twelve Months EndedThree Months EndedReconciliation of Adjusted EBITDA December 31, 2024September 30, 2024December 31, 2024 $ 448,353$ 61,216$ 96,648Net income (loss) 43,98131,60827,814Income tax (benefit) provision 94,21124,95139,720Interest expense, net
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