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11 9M/3Q 2026 RESULTS AND STRATEGIC UPDATE October 27, 2026
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22 DISCLAIMER This presentation has been prepared by ADNOC Drilling Company PJSC (the “Company”) based on publicly available information and non-public information to assist you in making a preliminary analysis of the content referenced herein solely for informational purposes. It should not be construed as an offer to sell or a solicitation of an indication of interest to purchase any equities, security, option, commodity, future, loan or currency including a private sale of shares in the Company (the “Financing Instruments”). It is not targeted to the specific investment objectives, financial situation or particular needs of any recipient. It is not intended to provide the basis for any third-party evaluation of any Financing Instrument or any offering of them and should not be considered as a recommendation that any recipients should subscribe for or purchase any Financing Instruments. The recipient agrees to keep confidential any information contained herein and any other written or oral information otherwise made available in connection with any potential transaction related to this presentation and shall not reproduce, publish, distribute or otherwise divulge such information to any other person(s) other than in accordance with any applicable non-disclosure agreements executed by the recipient with the Company. None of the Company or any of its affiliates or advisors make any representation or warranty as to the fairness, accuracy, adequacy or completeness of the information, the assumptions on which it is based, the reasonableness of any projections or forecasts contained herein or any further information supplied or the suitability of any investment for your purpose. None of the Company or any of its affiliates or advisors, or their respective directors, officers or employees, share any responsibility for any loss, damage or other result arising from your reliance on this information. Each of the Company, its affiliates and advisors therefore disclaim any and all liability relating to this presentation including without limitation any express or implied representations or warranties for statements contained in, and omissions from, the information herein. No recipient of this presentation should rely upon any information contained in this presentation, including but not limited to any historical financial data, forward looking statements, forecasts, projections or predictions. The Company, its affiliates, representatives and advisors are acting solely in the capacity of an arm’s length counterparty and not in the capacity of your financial advisor or fiduciary. Such information is represented as of the date and, if applicable, time indicated and the Company, its affiliates and advisors do not accept any responsibility for updating any such information. Nothing in this presentation should be construed as an advice of, amongst others, legal, tax, regulatory, accounting or investment nature. The recipients should seek and rely upon the advice of its own professionals and other advisors for such matters. This presentation may be recorded, and the Company will assume that by attending this presentation the recipient consents to such recording.
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33 RECORD NINE-MONTH PERFORMANCE IN 2026 High utilization & tech-enabled delivery • 99% rig availability, drilling 617 wells (up from 590 wells in 9M25) • 61% reduction in NPT1 versus target • Number of IDS rigs increased by 3 rigs from 59 rigs in 3Q25 to 62 rigs in 3Q26 • TRIR2 of 0.4 against a target of 0.6 for 9M26 • Rig fleet at 172 rigs3 at end of 3Q26, with OFS rolled out on 115 rigs4 9M results supporting growing dividends • Revenue: $3.7 billion, +2% YoY • EBITDA: $1.7 billion, +2% YoY • Net Profit: $1.1 billion, +1% YoY • Return on Equity (ROE): 33% • 3Q26 base dividend5 of $262.5 million • $175 million discretionary dividend5, to be paid in two equal tranches of $87.5 million each, expected to be paid in second half of November 2026 and in or around April 2027 Regional and domestic fleet growth • Closed two JVs building a solid 30-rig regional platform • In 3Q26, one of the repurposed land rigs commenced operations in Oman • Second AI-enabled island rig added to the fleet during 3Q26 (two in 2026 to date) • Launched Drill-to-Operate strategy, further evolving into a full well lifecycle energy solutions provider (page 11-15) Operational Excellence (1) Non-Productive Time (2) Total Recordable Incident Rate (3) Includes: i. 8 land rigs from the acquisition completed in early January 2026 of a 70% stake in SLB's land drilling rigs business in Kuwait and Oman; ii. 22 land rigs that are part of the transaction announced in November 2025 to acquire an 80% stake in MBPS business across the GCC region, closed in May 2026 (4) Sum of 62 IDS rigs and 53 rigs with at least one discrete service (5) The base 3Q26 dividend of $262.5 million and $87.5 million first tranche of the $175 million discretionary dividend (for a total amount of $350 million or c. 8.0 fils) are expected to be paid in the second half of November to shareholders of record as of November 5, 2026. The Board has also endorsed the second $87.5 million tranche of the discretionary dividend for shareholder approval. Subject to such approval, payment is expected in or around April 2027 RESILIENT EARNINGS, STRONG OPERATIONAL DELIVERY, AND CONFIRMATION OF FY26 GUIDANCE Strategic Growth Record Performance Growing shareholder returns via earnings and distributions
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44 368 359 366 1,060 1,072 3Q25 2Q26 3Q26 9M25 9M26 560 557 579 1,638 1,663 3Q25 2Q26 3Q26 9M25 9M26 1,260 1,232 1,247 3,626 3,707 3Q25 2Q26 3Q26 9M25 9M26 FINANCIAL HIGHLIGHTS 9M26 RECORD RESULTS, 3Q26 SEQUENTIAL GROWTH ACROSS THE BOARD % growth % growth % growth % growth 1,741 2,158 2,142 3Q25 2Q26 3Q26 x Net Debt / LTM EBITDA 1.0x0.8x 1.0x % growth (1) Cash payments for purchase of property and equipment including prepaid delivery payments, excluding CapEx accruals. 1% Revenue ($ Million) EBITDA ($ Million) Net Income ($ Million) Cash from Operations ($ Million) CapEx1 ($ Million) Net Debt ($ Million) 2% -1% 4% 2% 3% 2% 1% -1% 667 403 461 1,837 1,303 3Q25 2Q26 3Q26 9M25 9M26 14% -31% -29% 174 99 153 509 343 3Q25 2Q26 3Q26 9M25 9M26 55% -12% -33%
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55 ONSHORE OPERATIONS REVENUE GROWTH DRIVEN BY REGIONAL EXPANSION, WITH SEQUENTIAL MAR GIN IMPROVEMENT (1) Includes in 3Q26: 8 land rigs that are part of the acquisition completed in early January 2026 of a 70% stake in SLB's land drilling rigs business in Kuwait and Oman, and 22 land rigs part of the transaction announced in November 2025 to acquire an 80% stake in MBPS business across the GCC region, closed in 2Q26 (early May 2026). Commentary 254 259 241 259 3Q25 3Q26 2Q26 3Q26 512 557 554 557 3Q25 3Q26 2Q26 3Q26 167 159 177 3Q25 2Q26 3Q26 1 Onshore Wells Drilled 92 122 123 3Q25 2Q26 3Q26 1 Onshore Owned Rigs 1 % growth Onshore Revenue ($ Million) 9% 1% Onshore EBITDA ($ Million) % growth 2% 7% 1 › Onshore revenue grew 9% year on year to $557 million in 3Q26: › Benefited from the consolidation of regional operations (SLDC and MBPS) and higher fuel escalation › Partially offset by the repurposing of certain onshore rigs and lower unconventional activity phasing › 3Q26 EBITDA increased 2% year on year to $259 million, with a 46% margin › Revenue increased 1% sequentially, supported by an additional month of MBPS consolidation, higher fuel escalation, and the reclassification of one rig from Offshore to Onshore › EBITDA rose 7% sequentially, supported by lower maintenance phasing and cost efficiencies › Onshore fleet stood at 123 rigs at end of 3Q26, including 93 rigs in Abu Dhabi and 30 regional rigs › Onshore segment drilled a total of 177 wells in 3Q26, with domestic rig availability at 99%
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66 OFFSHORE OPERATIONS SOLID GROWTH SUPPORTED BY AI-ENABLED ISLAND RIGS AND HIGH FLEET AVAILABILITY › Offshore revenue increased 2% year on year to $372 million in 3Q26: › Full-quarter contribution from the additional AI- enabled island rig that joined the fleet in June 2026 › Partially offset by the repurposing of two jack-up rigs in 3Q26 and reclassification of one rig from Offshore to Onshore › 3Q26 EBITDA increased 3% year on year to $247 million, with a 66% margin › Revenue rose 4% sequentially, driven by the full- quarter contribution from the AI-enabled island rig added in June 2026 and favorable maintenance phasing › EBITDA rose 2% sequentially, while net profit increased 1% sequentially to $153 million › Offshore fleet stood at 49 rigs at end of 3Q26, including 36 jack-ups and 13 island rigs › A second new island rig joined the fleet during 3Q26 and is expected to contribute for a full quarter in 4Q26 › Offshore segment drilled a total of 45 wells in 3Q26, with domestic rig availability at 99% 365 372 358 372 3Q25 3Q26 2Q26 3Q26 239 247 241 247 3Q25 3Q26 2Q26 3Q26 35 44 45 3Q25 2Q26 3Q26 1 Offshore Wells Drilled 48 49 49 3Q25 2Q26 3Q26 1 Offshore Owned Rigs Offshore Revenue ($ Million) Offshore EBITDA ($ Million) % growth % growth 2%3% 2% 4% Commentary
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77 67 73 75 73 3Q25 3Q26 2Q26 3Q26 383 318 320 318 3Q25 3Q26 2Q26 3Q26 › 3Q26 revenue stood at $318 million, reflecting: › The anticipated lower phasing of unconventional activity, with unconventional contributing $62 million in OFS revenue during the quarter › Revenue was also impacted by OFS activity mix, partially offset by continued IDS activity growth › EBITDA increased 9% year on year to $73 million, driven by a higher margin, with margin expanding 6 percentage points to 23% › Sequentially, revenue was broadly stable, while EBITDA decreased 3% due to OFS activity mix › The segment reported a positive $7 million contribution from Enersol and Turnwell joint ventures › IDS rig count increased to 62 rigs, up from 59 in 3Q25, with at least one discrete service delivered across an additional 53 rigs › IDS drilling efficiency improved by 23% in 3Q26 versus the 2025 benchmark, driving cumulative savings to clients of $164 million in the first nine months of 2026 Commentary % growth Oilfield Services Revenue ($ Million) -1% -17% Oilfield Services EBITDA ($ Million) % growth -3%9% 59 61 62 53 53 53 112 114 115 3Q25 2Q26 3Q26 IDS Discrete Services 1 IDS & Discrete Services OILFIELD SERVICES OPERATIONS STRONG EBITDA GROWTH AND MARGIN EXPANSION DESPITE LOWER UNCONVEN TIONAL ACTIVITY
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88 The Board of Directors approved a total dividend distribution of $350 million (c. 8.0 fils per share) in respect of the third quarter of 2026, comprising the base quarterly dividend of $262.5 million and the first $87.5 million tranche of a $175 million discretionary dividend that the Company intends to distribute in two tranches. The base quarterly dividend and the first tranche of the discretionary dividend are expected to be paid in the second half of November 2026 to all shareholders on record as of November 5, 2026. The Board has also endorsed the second $87.5 million tranche of the discretionary dividend for shareholder approval; subject to such approval, payment is expected in or around April 2027. Strong performance and free cash flow give ADNOC Drilling the capacity to fund future growth while enhancing shareholder returns. The discretionary dividend reflects disciplined capital allocation and the Board’s confidence in the Company’s cash generation and long-term outlook. Subject to shareholder approval of the second tranche, it increases the total expected dividend in respect of 2026 to $1.225 billion, 22.5% above 2025. ADNOC Drilling’s progressive dividend framework includes an annual dividend floor of $1.05 billion in 2026, increasing by a minimum of 5% per year through at least 2030. Supported by strong free cash flow, disciplined capital allocation, and a highly contracted revenue base, the framework provides investors with both income visibility and long-term growth potential. THIRD QUARTER 2026 DIVIDEND 3Q26 DIVIDEND AND DISCRETIONARY DIVIDEND SUPPORT TOTAL EXPECTED FY26 DISTRIBUTION OF $1.225 BILLION (+22.5% YOY) ACCELERATION IN DIVIDEND DISTRIBUTIONS TO BOOST RETURNS • Capital allocation top of mind, including growing distributions to enhance shareholder returns • Meaningful acceleration in payouts for both FY251 and FY26 • Annual dividends increased ~2x since IPO2 and +55% from FY24 to FY26E (1) In 2025, the base dividend moved from $867 million (under the previous policy) to $1 billion, representing a YoY increase of 27% vs $788 million for FY24. The 2025 amount of $1 billion became the new floor under the updated policy (2) $650 million annualized for FY21 vs $1,225 million FY26E
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99 (USD, Billion) FY26 Guidance Revenue ~5 Onshore Revenue > 2.1 Offshore Revenue (Jack-up & Island) > 1.4 Oilfield Services Revenue > 1.4 EBITDA ~2.2 EBITDA Margin ~44% Net Profit ~1.45 Net Profit Margin ~29% Cash CapEx (excluding M&A) ~0.6 FCF (excluding M&A) 1.2 - 1.3 Dividends 1.225 (+22.5% YoY) Medium-Term Outlook • Looking beyond 2026, ADNOC Drilling's growth is supported by the continued scaling of OFS and IDS, regional expansion, and accelerating technology adoption. • Maintenance CapEx is expected to be up to $0.3 billion per annum, with around $0.5 billion growth CapEx expected in full-year 2027. • The Company targets a long-term leverage range (pre-M&A) of 1.0x-2.0x Net Debt/EBITDA, reflecting its highly contracted earnings profile and commitment to efficient capital allocation. • As anticipated, for full-year 2027, the Company expects low-to-mid-single-digit revenue growth and broadly stable EBITDA margin1 compared to full-year 26 guidance level. • Net income is expected to remain stable from full- year 2026 to full-year 2027 as a result of higher depreciation and financing cost. • A more granular guidance for 2027 and beyond will be provided in due course, as future business needs and financial contributions are further determined. FY26 GUIDANCE CONFIRMED AND SHARPENED CONTINUED RESILIENCE SUPPORTING DOMESTIC GROWTH, REGIONAL EXPANS ION, AND SHAREHOLDER RETURNS (1) EBITDA margin levels depend, among others, on activity mix (e.g. drilling vs OFS, domestic vs regional)
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10 STRATEGIC UPDATE
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11 (1) Owned rigs, as of 3Q21 (2) As of 3Q26, 142 in Abu Dhabi and 30 regionally (incl. 8 rigs in Oman and Kuwait as part of the transaction with SLB closed in January 2026 and 22 regional rigs as part of the MBPS transaction closed in May 2026) (3) UAE, Oman, Kuwait, Bahrain (4) As of October 26, 2026; TSR sourced from Bloomberg (5) ADNOC Drilling’s strategic positioning does not encompass the Company becoming a field operator, but it will remain a service provider, adding core services to support clients' upstream activity 1972 Built to Drill Founded to drill the wells behind the UAE’s energy story The Next Chapter 2018 Beyond Drilling Strategic OFS partnership begins the shift towards integrated drilling services 2021 Public Company ADX listing creates a platform for accelerated growth Technology & OFS Enersol established and first hybrid rig deployed 2023 2024 Integrated Delivery Unconventional campaign launched with Turnwell, further expanding the integrated offering 2026 Regional Platform SLDC and MBPS establish a scaled regional platform beyond the UAE Proven track record of evolution, expansion, and delivery IPO 2021 961 Today 1722 Increase ~1.8x Total Rig Fleet IPO 2021 ~$0.6bn 2026E ~$1.45bn Increase ~2.4x Net Profit IPO 2021 $0.3bn 2026E >$1.4bn Increase >4.5x OFS Revenue IPO 2021 ~$10bn Current ~$25bn4 Increase ~2.5x Market Capitalization IPO 2021 1 Today 43 Key Operating Countries Since IPO 2021 ~190%4 Total Shareholder Return DRILL-TO- OPERATE5 → → → → → JOURNEY FROM DRILLING TO FULL WELL LIFECYCLE SCALING BEYOND DRILLING ACROSS SERVICES, TECHNOLOGY, AND GEOGRAP HIES
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12 (1) ADNOC Drilling’s strategic positioning does not encompass the Company becoming a field operator, but it will remain a service provider, adding core services to support clients' upstream activity (2) Current OFS services: full scope directional drilling, wireline, drilling fluids, pressure pumping (3) Acronyms: ESP (Electrical Submersible Pumps), TRS (Tubular Running Services), OCTG (Oil Country Tubular Goods), EPF (Early Production Facilities), DBO (Design, Build, and Operate) Services Provided Today Onshore Rigs Offshore Rigs OFS: Well Construction Services2 New Services to be Introduced3 Artificial Lift (e.g. ESP3) Completions and TRS3 OCTG3 Services Well Heads / Christmas Trees EPF3 / DBO3 Tie-ins 1. Drill 2. Complete 3. Produce 4. Intervene 5. OperateIllustrative well lifecycle DRILL-TO-OPERATE1: MORE VALUE FROM EVERY WELL FROM MAXIMIZING RIG AVAILABILITY AND UTILIZATION TO MAXIMIZING T HE VALUE OF EVERY WELL
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13 • Additional scale in directional drilling, wireline, drilling fluids, pressure pumping • Deepen OFS share across both existing and new wells • Further growth potential as the next phase of unconventional gradually unfolds • Developing additional capabilities (e.g. tie-ins, DBO, OCTG, EPF) through organic growth, JVs and targeted M&A • Strengthening ICV and platform resiliency • Building on track-record of delivery from drilling and existing OFS ~50% → ~60+% Current & targeted UAE market share in the long term ~25+% Target UAE market share in the long term Oilfield Services (OFS) New Services in OFS, Advanced Engineering • Predictable earnings base across onshore & offshore with 100% market share in the UAE • Fleet growth supporting activity across UAE and regional markets • Disciplined regional expansion • Technology driving drilling efficiency 1721 → ~2002 UAE + Regional rigs target in the long term Drilling Progress Delivered on Unconventional Phase 1 84% wells drilled1 54% wells fractured1 Resilient Cash Foundation Integrated Growth Engine Capturing More Value per Well One Integrated Platform Enabling Captive Cross-Segment Synergies Target Addressable Market ~$4-5bn Long-term Target Addressable Market Long-term~$3bn Expanding into New Strategic Capabilities (1) As of 3Q26 (2) Excluding any potential sale of repurposed rigs THE NEXT PHASE OF GROWTH EXPANDING SERVICES TO CAPTURE A GROWING DOMESTIC MARKET Note: Target addressable markets, market shares, fleet ambitions, and potential financial contribution are indicative and subject to future validation, tender awards, market dynamics, etc.
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14 Integrated drilling and OFS capability 55% Unconventional Drilling Arm $1.7bn Phase 1 contract. 84% drilled2 / 54% fractured2 51% Technology Investment Platform Advanced OFS technology 70% Regional Land Drilling 8 land rigs in Oman and Kuwait 80% Regional Land Drilling & Workover 22 regional rigs Actively working on partnerships with selected parties to further the strategy execution Land Drilling Business Strategic OFS Partner Since 2018 Established in 2024 Established in 2024 Acquisition completed in 1Q26 Acquisition completed in 2Q26 New DevelopmentsPlatforms and Partnerships to Deliver on Our Strategy The Evolution Is in the Making: The Drill-to-Operate1 Strategy Is Already Being Delivered, Not Just Planned (1) ADNOC Drilling’s strategic positioning does not encompass the Company becoming a field operator, but it will remain a service provider, adding core services to support clients' upstream activity (2) As of 3Q26 Note: Target addressable markets, market shares, fleet ambitions and potential financial contribution are indicative and subject to future validation, tender awards, market dynamics, etc. THE STRATEGIC EVOLUTION IS ALREADY IN MOTION FROM DRILLING TO THE FULL WELL LIFECYCLE: THE DRILL-TO-OPERATE1 STRATEGY
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15 Dividend Floor1 Domestic Growth2 • M&A, Partnerships & JVs to access new technologies and expertise to scale in Abu Dhabi and beyond • Strong risk-adjusted returns exceeding double-digit IRR minimum hurdle1 • Disciplined entry valuation supporting long-term value creation potential 3 • Retaining flexibility to distribute discretionary dividends Ambition to Deliver Sound Shareholder Returns as a Combination of Earnings and Dividend Growth2 $1.05bn Visible Baseline Shareholder Return +5%Dividend floor for 2026 Minimum annual growth until at least 2030 Drilling • Maintenance & growth capex • 10-13% domestic unlevered IRR1 OFS & Advanced Engineering • Expand into full well lifecycle with additional capabilities DISCIPLINED CAPITAL ALLOCATION CLEAR PRIORITIES BALANCE A GROWING DIVIDEND FLOOR WITH VALUE -ACCRETIVE GROWTH INITIATIVES (1) Refers to unlevered IRR of 10%-13% on domestic conventional drilling, based on the domestic rig framework agreement (2) Ambition does not imply a firm financial guidance. Actual distributions and earnings guidance will be disclosed in due course as the business develops Discretionary Distributions International Growth and M&A
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16 CLOSING REMARKS
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1717 Delivering growth via 172- rig fleet, including AI- enabled island rigs and 30 regional rigs CLOSING REMARKS Delivering Resilient Growth, Strong Cash Returns, and Long-Term Value Creation $350mn dividends - c. 8.0 fils per share - payable in Nov. 2026 (base + first tranche of discretionary) Record 9M26 revenue of $3.7bn, with resilient earning momentum and FY26 guidance confirmed Advancing Drill-to-Operate strategy leveraging OFS, Turnwell, Enersol, existing and future partnerships
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18 APPENDIX
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1919 509 343 9M25 9M26 1,837 1,303 9M25 9M26 1,060 1,072 9M25 9M26 1,638 1,663 9M25 9M26 3,626 3,707 9M25 9M26 FINANCIAL HIGHLIGHTS NINE-MONTH 2026 OVERVIEW % growth % growth % growth % growth 1,741 2,142 9M25 9M26 x Net Debt / LTM EBITDA 0.8x % growth (1) Cash payments for purchase of property and equipment including prepaid delivery payments, excluding CapEx accruals. Revenue ($ Million) EBITDA ($ Million) Net Income ($ Million) Cash from Operations ($ Million) CapEx1 ($ Million) Net Debt ($ Million) 2% 2% 1% -29% -33% 1.0x
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2020 174 153 99 153 3Q25 3Q26 2Q26 3Q26 667 461 403 461 3Q25 3Q26 2Q26 3Q26 368 366 359 366 3Q25 3Q26 2Q26 3Q26 560 579 557 579 3Q25 3Q26 2Q26 3Q26 1,260 1,247 1,232 1,247 3Q25 3Q26 2Q26 3Q26 FINANCIAL HIGHLIGHTS THIRD QUARTER 2026 OVERVIEW % growth % growth % growth % growth 1,741 2,158 2,142 3Q25 2Q26 3Q26 x Net Debt / LTM EBITDA 1.0x0.8x 1.0x % growth (1) Cash payments for purchase of property and equipment including prepaid delivery payments, excluding CapEx accruals. -1% Revenue ($ Million) EBITDA ($ Million) Net Income ($ Million) Cash from Operations ($ Million) CapEx1 ($ Million) Net Debt ($ Million) 1% 3% 4% -1% 2% -31% 14% -12% 55%
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2121 MULTIPLE AVENUES FOR SUSTAINED GROWTH DIVERSIFYING AND EXPANDING THE GROWTH PLATFORM • Acquired four companies, cumulative total investment of ~$0.8 billion1, approximately half of the total amount committed. • Gordon Technologies, 67.2% stake • NTS Amega Global, 51% stake • EV, 100% stake • DWS, 95% stake • Targeting to deliver additional transactions in due course. • Acquisitions to support Enersol’s goal of becoming a diversified, tech-centric OFS investment platform. Enersol • Acquired 70% stake in SLB’s land rig business in Oman and Kuwait. • Perimeter includes eight fully operational land rigs under contract • Rigs contracted with respective national oil companies (NOCs) in both countries • Acquired 80% of MB Petroleum Services, one of the leading drilling and OFS providers in the region with operations in Oman, Kuwait, Saudi Arabia, and Bahrain. Added 22 regional rigs. • In 3Q26, one of the repurposed land rigs commenced operations in Oman, marking ADNOC Drilling’s first organic rig deployment in the Sultanate. Regional Expansion • Out of Phase 1, 84% drilled and 54% fracked.2 • Phase 1 to unlock the UAE’s world-class unconventional energy resources. • The contract involves drilling oil and gas wells over 2+ years. • Sustaining growth by potentially entering into Phase 2 and supporting clients’ future plans. Unconventional Resources (1) Four companies acquired and with completed transactions. (2) As of the end of 3Q26. Note: this slide does not capture the entirety of Drill-to-Operate strategic avenues described earlier, but it is meant to provide strategic rationale and updates specifically on Enersol, unconventionals,and regional expansion
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22 WE CONTINUE TO PURSUE AMBITIOUS ESG GOALS ESG FRAMEWORK & PERFORMANCE HIGHLIGHTS Climate, Emissions, and Energy • Energy Intensity 2,156 GJ/M$ ahead of target • GHG Emission intensity 161.61 tCO2e/M$ Health, Safety, and Security • TRIR of 0.38 outperforming the 2026 target of 0.61 • Zero catastrophic and Tier 1/Tier 2 process safety events • Zero occupational illness/disease • 15 Road Safety and Transport Audits Economic and Social Contribution • 59.7% of procurement spend invested in the UAE by 3Q26 • Zero cyber security and data protection incidents • ICV score improved to 91.16% Local Environment • Zero spill incidents across operations • ISO 14001 certification renewed covering all operations Business Sustainability • Achieved 99% domestic rig availability • 100% Code of Conduct compliance maintained Workforce Diversity and Development • A diverse workforce representing 85 nationalities • Achieved an Emiratization percentage of 29.45% • Maintained a workforce of 10,927 employees
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2323 272 355 374 1,999 2,468 2,468 14 45 48 1,741 2,158 2,142 3Q25 2Q26 3Q26 Leases Borrowings Cash STRONG CASHFLOW & BALANCE SHEET HEALTHY CASH POSITION WITH AMPLE LIQUIDITY TO POWER GROWTH CommentaryNet Cash from Operating Activities ($ Million) Net Debt ($ Million) Cash from Operating Activities › Cash from operating activities stood at $461 million in 3Q26 › Working capital trend was driven by an increase in inventories to ensure business continuity amid the regional situation and the consolidation of SLDC and MBPS Net Debt › Net Debt/EBITDA ratio increased year on year from 0.8x to 1.0x › Cash & cash equivalents stood at $374 million at the end of 3Q26 › As of September 30, 2026, the Company’s liquidity headroom (including unutilized syndicated term and revolving facilities) was around $1.16 billion Net Debt/LTM EBITDA 0.8x 1.0x 1.0x 667 (1) (248) 15 28 461 3Q25 Profit Net Working Capital D&A Other 3Q26
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2424 CAPEX & WORKING CAPITAL CommentaryCapEx1 ($ Million) Operating Working Capital ($ Million) CapEx › 3Q26 cash CapEx excluding accruals amounted to $153 million › ADNOC Drilling expects cash CapEx to be ~$0.6 billion for 2026 Operating Working Capital › Working capital as a percentage of revenue stood at around 10% at quarter end › The normalized ratio was 12%, adjusted for the impact from phasing of capital expenditure-related payments at quarter-end › The Company expects to maintain a net working capital to revenue ratio broadly stable at around 12% in the medium term (1) Cash CapEx excluding accruals. 3Q26 CapEx including accruals amounted to $189 million, compared to $72 million in 3Q25 and $135 million in 2Q26. 327 448 510 3Q25 2Q26 3Q26 % of LTM Revenue 7% 9% 10% 174 153 99 153 3Q25 3Q26 2Q26 3Q26 % Revenue 14% 12%12% 8%
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2525 FINANCIAL SUMMARY (1) Opex includes allocation of G&A expenses and other income (2) Includes ADNOC Drilling’s 51% of Enersol’s net profit, accounted for in OFS, and 55% of Turnwell’s net profit from unconventionalbusiness, related to both land rig operations and OFS (3) EBITDA represents Earnings Before Interest, Tax, Depreciation, and Amortization (4) Conventional EBITDA and Net Profit margins exclude the contribution from the unconventional business. On a quarterly basis, the performance of unconventional can be subject to variations related to service mix, volume of drilling, and services provided, etc. (5) Cash payments for purchase of property and equipment including prepaid delivery payments, excluding CapEx accruals (6) Interest bearing liabilities less cash and cash equivalents (7) Calculated on the weighted average number of shares outstanding, excluding treasury shares (USD Million) 3Q26 3Q25 YoY 2Q26 QoQ 9M26 9M25 YoY Revenue 1,247 1,260 -1% 1,232 1% 3,707 3,626 2% Opex1 (675) (703) -4% (681) -1% (2,067) (2,005) 3% Share of profit of joint ventures2 7 3 133% 6 17% 23 17 35% EBITDA3 579 560 3% 557 4% 1,663 1,638 2% Depreciation and amortization (150) (135) 11% (135) 11% (411) (398) 3% Finance cost-net (28) (23) 22% (29) -3% (76) (79) -4% Taxes (35) (34) 3% (34) 3% (104) (101) 3% Net profit 366 368 -1% 359 2% 1,072 1,060 1% EBITDA margin 46% 44% 2% 45% 1% 45% 45% 0% Conventional EBITDA margin4 49% 50% -1% 48% 1% 49% 51% -2% Net profit margin 29% 29% 0% 29% 0% 29% 29% 0% Conventional net profit margin4 31% 32% -1% 31% 0% 32% 33% -1% Cash generated from operating activities 461 667 -31% 403 14% 1,303 1,837 -29% Capital Expenditure5 (153) (174) -12% (99) 55% (343) (509) -33% Investment in joint ventures - (19) -100% (9) -100% (17) (133) -87% Free cash flow 308 477 -35% 297 4% 961 1,204 -20% Free cash flow (excluding M&A) 308 496 -38% 306 1% 978 1,337 -27% Total equity 4,394 4,033 9% 4,287 2% 4,394 4,033 9% Net debt6 2,142 1,741 23% 2,158 -1% 2,142 1,741 23% Earnings per Share ($ per Share)7 0.0228 0.0230 -1% 0.0223 2% 0.0667 0.0663 1% Capital employed 7,184 6,282 14% 7,055 2% 7,184 6,282 14% Return on capital employed 22% 25% -3% 23% -1% 22% 25% -3% Net debt to LTM EBITDA 1.0 0.8 0.2 1.00 - 1.0 0.8 0.2 Leverage ratio 33% 30% 3% 33% 0% 33% 30% 3% Return on equity 33% 36% -3% 34% -1% 33% 36% -3%
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2626 SEGMENTAL RESULTS P&L SUMMARY (1) Operational expenses including allocated G&A. (2) Underlying EBITDA includes other income. (USD Million) 3Q26 3Q25 YoY 2Q26 QoQ 9M26 9M25 YoY Revenue 1,247 1,260 -1% 1,232 1% 3,707 3,626 2% Onshore 557 512 9% 554 1% 1,588 1,518 5% Offshore 372 365 2% 358 4% 1,075 1,036 4% Oilfield Services (OFS) 318 383 -17% 320 -1% 1,044 1,072 -3% Total OPEX1 (675) (703) -4% (681) -1% (2,067) (2,005) 3% Onshore (298) (258) 16% (313) -5% (868) (761) 14% Offshore (125) (126) -1% (117) 7% (350) (328) 7% Oilfield Services (OFS) (252) (319) -21% (251) 0% (849) (916) -7% EBITDA2 579 560 3% 557 4% 1,663 1,638 2% Onshore 259 254 2% 241 7% 720 760 -5% Offshore 247 239 3% 241 2% 725 708 2% Oilfield Services (OFS) 73 67 9% 75 -3% 218 170 28% Net Profit 366 368 -1% 359 2% 1,072 1,060 1% Onshore 167 183 -9% 160 4% 481 533 -10% Offshore 153 144 6% 151 1% 454 432 5% Oilfield Services (OFS) 46 41 12% 48 -4% 137 95 44%
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27 www.adnocdrilling.ae ir@adnocdrilling.ae