Ventura Offshore (VTURA) Company presentation summary

Recent contract awards and operational updates

• Secured a 1,455-day extension for SSV Victoria with Petrobras, adding $466m in backlog and starting January 2027.

• Atlantic Zonda received a 365-day extension, securing employment until Q2 2029 and adding $145m in net backlog.

• DS Carolina extended by 135 days, adding $29m in backlog and pushing the next contract's start to January 2027.

• CAPEX for Victoria's maintenance and MPD installation estimated at $78–81m, with most payable after contract start.

• DS Carolina's 910-day contract prep includes $27–30m in maintenance, with $6.5m already spent; options could extend contract to 2033.

Financial strategy and liquidity management

• Initiated a $75m tap issue at par and proposed deferral of three $10m bond instalments to April 2027.

• RCF lender approved maturity extension to December 2026.

• These measures are expected to cover liquidity needs through Q4 2026.

Refinancing approach and future outlook

• Pursuing a two-step refinancing due to improved outlook for Catarina and potential long-term contracts.

• Actively seeking consolidation and growth opportunities.

• Working with vendors to defer CAPEX payments until after contract commencement, aiming to use operational cash flow.

• Plans to finalize refinancing by year-end 2026, targeting a capital structure to enable 100% free cash flow dividends from 2027.