Petrofac (PFC) Trading Update summary

Restructuring progress and stakeholder support

• Lock-Up Agreement extended to 30 November 2025, reinforcing stakeholder commitment.

• Multiple restructuring routes are being pursued, including addressing Court of Appeal judgment grounds.

• Application to the Supreme Court for leave to appeal the Court of Appeal's July 2025 judgment.

• Ongoing support from key clients provides a stable platform for restructuring efforts.

Operational and financial performance

• All business units continued contract execution despite financial constraints.

• Revenue and EBIT for H1 2025 expected to be significantly ahead of prior year.

• Two major new contracts secured with ADNOC, totaling over $1.5 billion.

• Asset Solutions division secured around $500 million in new orders.

• Group backlog at $6.7 billion as of 30 June 2025, maintaining liquidity and operational support.

Liquidity and cash management

• Net liquidity increased by $40 million in H1 2025, reaching $192 million at 30 June 2025.

• Liquidity supported by suspension of debt service, commercial settlements, and careful cash flow management.

• Supportive supply chain and customer relationships contributed to liquidity stability.