Vantage Drilling International (VDI) Investor presentation summary

Company overview

• Provides offshore drilling services with a fleet of 2 jackups and 2 drillships, plus third-party managed rigs.

• Selling 2 jackups to ADES and entering 3-year management agreements for 3 jackups.

• Selling 1 drillship to a joint venture with TotalEnergies, including a 10-year management agreement.

• Strategic alliance with ADES to support their international expansion.

• Operates in key offshore regions including Qatar, Indonesia, Malaysia, and West Africa.

Operating performance and updates

• Achieved significant reduction in incident rates despite increased working hours.

• Focused on full fleet utilization at higher dayrates and operational excellence.

• Maintains contracts with major oil companies and national oil companies, resulting in repeat business.

• Ongoing upgrades and mobilizations for rigs to meet contract requirements.

Strategic transactions and path forward

• Selling Soehanah for $85m and Topaz Driller for $105m, with 3-year management agreements per rig.

• Selling Tungsten Explorer for $265m to a JV with TotalEnergies; retains 25% JV ownership and management fee of $47.5k/day.

• Proceeds used for bond redemption, RCF settlement, and equity accretion.

• Timeline for transactions spans Q3–Q4 2024, with major closings and settlements scheduled.