Floatel International (FLOAT) Floatel International Pareto Conference September 2024 Presentation summary

Company history and ownership

• Established in 2006, with first vessel ordered in 2007 and first delivery in 2010.

• Underwent several financings, restructurings, and relocations, most recently refinancing $350 million in bonds in March 2024.

• Keppel Group holds 49.9% ownership, management 10%, and other investors 40.1%.

Fleet and operations

• Operates a modern fleet of four DP3 semi-sub accommodation vessels and one DP2 vessel, with all but one currently active.

• Floatel Reliance is being sold due to high reactivation costs and misalignment with strategic focus.

• Fleet is primarily active in the North Sea, Brazil, UK, and Norway, serving major oil and gas clients.

Contract backlog and commitments

• Firm order book stands at $421 million, with $227 million in option work as of June 2024.

• If all LOIs convert, firm backlog would rise to $491 million.

• Backlog is distributed across 2024-2027, with 41% in 2025 and 22% in 2026.