Ensign Energy Services (ESI) Corporate Presentation summary

Strategic priorities and operational focus

• Emphasizes capital efficiency, free cash flow, and disciplined capital strategy to drive financial flexibility and profitability.

• Maintains a solid maintenance capex program with flexibility to adapt to market conditions.

• Exceeded 2024 debt reduction target, with $220 million repaid and a 2023–2025 target of $600 million, leaving $119.8 million remaining as of Q2-25.

• Leverages performance-based contracts and proprietary EDGE technology for high utilization and margins.

• Over one-third of the marketed fleet is equipped with alternative power solutions, supporting ESG performance.

Global operations and market presence

• Operates in 8 countries with over 3,500 employees and $2.9 billion in assets as of June 30, 2025.

• Fleet includes 186 drilling rigs and 88 service rigs, with significant presence in Canada, the US, and the Middle East.

• Maintains strong market share in key Canadian and US basins, with high-spec rigs tailored to basin requirements.

• Over half of the international fleet is under term contract, with high utilization in the Middle East and growth in Latin America.

• Diversified revenue streams from drilling, completion, production services, and rentals, with drilling accounting for about 90% of total revenue.

Financial performance and capital management

• Demonstrated strong revenue, EBITDA, and free cash flow growth from 2020 to 2024.

• Achieved a $687 million net debt reduction from January 2023 to June 2025, with interest expense down 27% year-over-year.

• Maintains the lowest net debt to EBITDA ratio since 2015, even after completing two accretive acquisitions totaling $163 million.

• 2025 maintenance capex expected at $154 million, with selective upgrades of $30.5 million, $19 million of which is customer funded.

• Holds approximately $956 million in contracted revenue globally, with a weighted average contract tenure of 1.1 years.