Kjetil Gjersdal, Chief Executive Officer ofOdfjell Drilling AS commented: "In the fourth quarter of 2023,Odfjell Drilling continued to build on the momentum generated during the rest of the year by delivering a strong financial performance, whilst also securing new contracts which will see all of our owned fleet busy with firm backlog until at least 2026. "As we enter 2024, it is my belief thatOdfjell Drilling is in an extremely enviable position. Increasing cash generation is secured, our performance capabilities have remained at the forefront of our industry and our balance sheet gives us additional flexibility to grow our business. "All this has positioned our Company in the healthiest position it has ever been, with our Company well placed to enact its strategy for stakeholder value generation." Q4 Highlights: Strong financial performance, despite unplanned downtime o Q4 EBITDA ofUSD 83 million o 2023 EBITDA ofUSD 328 million a 6.5% increase on 2022 o Q4 Revenue ofUSD 192 million o 2023 Revenue of 732 million a 12.8% increase on 2022 USD 2bn of Firm Backlog Secured o Order Backlog ofUSD 2.1 billion oUSD 2 billion from firm contractsUSD 0.1 billion from priced options o Additional unpriced optional periods agreed withAker BP andEquinor High Value Firm Contracts Secured o New agreements and contract secured with market leading day rates o Deepsea Aberdeen secured contracts withEquinor for 10 months for a total contract value ofUSD 138 million o Deepsea Nordkapp contract withAker BP amended and extended. Additional year agreed with a total contract value ofUSD 179 million o All contracts exclude fuel-incentives, add-on sales, mobilisation fees and bonus Successfully completed SPS o Deepsea Nordkapp SPS Completed entirely at sea with no downtime Shareholder Distributions o Q4 Quarterly Dividend ofUSD 14.2 million declared o Three dividends declared during 2023 post refinancing, resulting inUSD 42.6 million cumulatively being returned to shareholders Chief Executive OfficerKjetil Gjersdal , Chief Financial OfficerFrode Syslak and Investor Relations OfficerJames Crothers will be hosting a webcast and Q&A session at2pm CET to discuss the results. Stakeholders can either use the following link for the webcast or listen via telephone using the details below. Webcast details: https://brrmedia.news/OD_Q423 Conference call:USA Local: +1 786 697 3501 Norway Local Oslo: +47 2 156 3318UK -Wide: +44 (0) 33 0551 0200 Password (if prompted) Quote Odfjell Drilling Q4 Results when prompted by the operator. For further queries, please contact:James Crothers , Investor Relations Officer +44 (0) 7495 067 684 jchu@odfjelldrilling.comLondon, United Kingdom 15 February 2024 Odfjell Drilling Ltd This information is published in accordance with the requirements of theOslo Børs Rule Book II section 4.2.4 (1) no. 3 and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
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