Dolphin Drilling (DDRIL) Investor presentation summary

Strategic focus and objectives

• Aims to create a stable, efficient, and investable platform for growth.

• Prioritizes safe, reliable, and resilient operations across its fleet.

• Seeks to extend contract backlog and address 2026 financing needs.

• Focuses on reducing structural costs and improving efficiency while maintaining safety.

Fleet and operational highlights

• Specializes in moored semisubmersible rigs, with a presence in low-cost offshore drilling.

• Operates three main rigs: Blackford Dolphin, Borgland Dolphin, and Paul B. Loyd Jr.

• Fleet delivers cost-efficient wells and maintains worldwide drilling licenses.

• Booked $100 million in new contract backlog in the recent quarter.

Market position and contract status

• Firm revenue contract backlog stands at $264 million, with $353 million in options.

• Blackford Dolphin and Paul B. Loyd Jr. are on contract; Borgland Dolphin is set to commence late 2026.

• UK semisubmersible market is highly consolidated, with only five rigs available and strong demand through 2030.

• Two stable revenue streams with a third rig contracted, supporting growth potential.