Jacktel (JACK) investor relations material

Executive summary

• Achieved 100% operational and financial utilization in Q1 2026, with smooth contract transitions and no significant operational disruptions; only one lost time incident reported.

• Completed Equinor contract and commenced mobilization for Aker BP contract, minimizing off-hire days to five to six.

• Listed on Euronext Growth Oslo in March 2026, enhancing trading liquidity and visibility.

• Declared a Q1 2026 dividend of USD 0.025 per share, classified as repayment of paid-in capital.

• Draupner contract extended by 6 weeks, eliminating gap before Valhall contract.

Financial highlights

• Q1 2026 revenue was USD 15.9m, EBITDA USD 8.8m, and net profit USD 2.3m.

• Charter hire revenue from Equinor was USD 15.3m, with USD 0.6m in reimbursable items.

• Operating expenses totaled USD 7.0m, including vessel OpEx and higher SG&A from listing costs.

• Cash balance at quarter end was USD 26.3m, with a net increase in cash of USD 10.9m during the quarter.

• Net interest-bearing debt reduced to USD 44m by quarter-end.

Outlook and guidance

• 2026 EBITDA forecast is USD 40m; 2027 forecast, including options, is USD 44m, reflecting improved contract terms.

• Dividend capacity for 2026 estimated at USD 0.09–0.10 per share, with USD 0.025 per share declared for Q1 2026.

• Board aims to distribute all excess cash to shareholders quarterly, based on cash position, forecasts, and contract backlog.

• Focus on securing backlog into 2028 and beyond, with optimism for both oil & gas and offshore wind opportunities.

• Expected to generate over USD 20m in cash available for shareholder distributions in 2026.