Interim report
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Q2 and half year report 2026 25th of August 2026
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Table of Contents Q2-26 Highlights Operational Review Financial Review Market Outlook Appendix
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August 25, 2026 | 3 Jacktel declaring Q2 dividend of USD 0.03 per share Q2-26 Highlights Key financials for the quarterHighlights for the quarter 100% operational and financial utilization • Revenue of USD 19.6m, EBITDA of USD 11.3, Net profit of USD 4.7m Successful mobilization between contracts • Haven ended its contract with Equinor, mobilized to Valhall and commenced its Aker BP contract with minimal downtime Contract extension • In July the AkerBP contract for Valhall was extended from 15 months to 21 months, with the firm period ending on the 29th of February 2028. In addition, 4x 1-month options have been granted which would extend the contract until 30th of June 2028. Total fixed contract value increased from USD 87m to USD 121m, including mob- and demobilization Declaring quarterly distribution to shareholders of USD 0.03 per share • Shareholder distribution to be classified as repayment of paid-in capital and will be paid in NOK Jacktel Chairman, Harald Thorstein comments: “We had a strong operational quarter, successfully mobilizing between contracts. This is a result of a well-planned mobilization and strong cooperation with our clients, Equinor and Aker BP . We are pleased with the extension of the Aker BP contract announced in July. The priority going forward is to continue our solid operations and keep building backlog ” $11.3m EBITDA $4.7m Net Profit $53m NIBD $67m Firm EBITDA Backlog $86m EBITDA Backlog incl. Options
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August 25, 2026 | 4 Jacktel has declared $0.125 in dividend per share the last four quarters • The Board of Jacktel AS will aim to distribute “excess cash” to shareholders on a quarterly basis • Key considerations when determining “excess cash” for quarterly distributions: – Cash position – Cash flow forecast (short and long term) – Contract backlog and tendering pipeline – Any specific operational risk (e.g. mobilization between contracts, yard stays) – Sufficient headroom to covenants • Current backlog gives good visibility on dividend distributions going forward Jacktel shareholder distribution policy Quarterly dividend distribution Figures in USD per share $0,050 $0,020 $0,025 $0,030 Q3-25 Q4-25 Q1-26 Q2-26 Historical distributions
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Table of Contents Q2-26 Highlights Operational Review Financial Review Market Outlook Appendix
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August 25, 2026 | 6 Operational update • Haven provided the Draupner platform with 100% gangway connection since contract commencement in Q4 2024 until conclusion of contract in May/June 2026 • Start up of operations at Valhall has been according to plan, maintaining 100% uptime since connecting the gangway • Haven mobilized directly from Draupner to Valhall May/June 2026, thereby eliminating the gap between contracts and reducing cost of mobilization and demobilization for all stakeholders • No high potential incidents and no LTI’s have been reported in Q2-26 Operational review Photo of Haven at Draupner
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August 25, 2026 | 7 Haven was successfully installed at the Valhall field on June 2nd Operational review 2026 2027 2028 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Valhall, Norway Draupner, Norway Counterparty Start date Location Duration Contract value Aker BP June 2026 Valhall, Norway 21 months firm, 4x 1-month options Valhall Project Total fixed contract value of USD 121m, including mob- and demobilization Project description • Valhall has produced over a billion barrels of oil equivalents since production start in 1982 • AkerBP is currently working on modernizing Valhall to reach ambition of producing another billion barrels for the next 40 years
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August 25, 2026 | 8 Jacktel continues to build significant EBITDA backlog Operational review Comments~$67m in firm EBITDA backlog, ~$86m including options per Q2-26 Figures in USDm • Firm EBITDA backlog of ~$67m and ~$86m including options per Q2-26 • With the extension of the Aker BP contract, Jacktel has started building firm backlog into 2028 • The Company experiences a tightening market within the Oil and Gas sector and sees several opportunities for building profitable backlog from 2028 and beyond • Jacktel also see opportunities within the offshore wind market in Europe 2026e 2027e 40 42 2028e 25 19 6 Firm Option
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Table of Contents Q2-26 Highlights Operational Review Financial Review Market Outlook Appendix
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August 25, 2026 | 10 Income Statement The un-audited consolidated financial reports for the Jacktel group include Jacktel AS and its 100% owned subsidiary Haven Rigco AS (owner of Haven). The Interim Financial Statements are prepared in accordance with IFRS measurement and recognition criteria's. Financial review Q2-26: • Operating income amounted to $19.6m of which $15.8m related to charter hire and $3.3m related to other income and $0.5m related to reimbursable income • Operating expenses equaled $8.2m of which $6.9m related to vessel OPEX and $0.4m related to reimbursable cost. $0.9m related to SG&A – Increased Vessel OPEX compared to Q2-25 mainly relates mob and demob costs and strengthening of NOK compared to USD. Crew wages and majority of maintenance items are paid in NOK • EBITDA of $11.3m and operating profit of $6.5m • Net financial expenses amounted to $1.8m • Net profit of $4.7m • Earnings per share of USD 0.018 for the quarter Income StatementComments CONDENSED CONSOLIDATED INCOME STATEMENT Q2-26 Q2-25 FY-2025 6M-2026 6M-2025 USD 000` Unaudited Unaudited Audited Unaudited Unaudited Operating income 19,576 16,288 70,013 35,453 36,999 Operating expenses (8,237) (5,911) (30,277) (15,287) (16,163) EBITDA 11,339 10,377 39,736 20,166 20,836 Depreciation note 5 (4,852) (4,281) (17,104) (9,696) (8,552) Impairment/reversal of impairment note 5 - - 20,641 - - Operating profit/(loss) - EBIT 6,487 6,096 43,273 10,470 12,284 Interest income 198 35 309 331 88 Interest expenses (1,643) (1,855) (7,381) (3,369) (3,783) Other financial items (373) (365) (3,826) (501) (528) Net financial items (1,818) (2,185) (10,898) (3,539) (4,223) Profit/(loss) before tax 4,669 3,911 32,375 6,932 8,061 Net profit/(loss) 4,669 3,911 32,375 6,932 8,061 STATEMENT OF COMPREHENSIVE INCOME Q2-26 Q2-25 FY-2025 6M-2026 6M-2025 USD 000` Unaudited Unaudited Audited Unaudited Unaudited Net profit this period 4,669 3,911 32,375 6,932 8,061 Comprehensive income 4,669 3,911 32,375 6,932 8,061 Earnings per share Basic 0.018 0.016 0.129 0.027 0.032 Diluted 0.018 0.016 0.129 0.027 0.032 Shares (in 000) 258,300 251,000 251,000 255,154 251,000
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August 25, 2026 | 11 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION Q2-26 Q2-25 FY-2025 USD 000` Unaudited Unaudited Audited ASSETS Non-current assets Property, plant and equipment note 5 140,304 137,199 150,000 Restricted cash - 5,000 - Total non-current assets 140,304 142,199 150,000 Current assets Accounts receivable 10,402 11,848 7,408 Other current assets 1,462 2,106 776 Cash and cash equivalents note 6 12,332 3,188 15,319 Total current assets 24,196 17,142 23,504 Total Assets 164,500 159,341 173,504 LIABILITIES Non-current liabilities Other interest-bearing debt note 4 53,651 61,974 58,451 Total long-term liabilities 53,651 61,974 58,451 Current liabilities Accounts payable 3,184 2,913 3,158 Current interest bearing debt note 4 11,441 6,760 11,573 Other current liabilities 571 2,214 3,078 Total short-term liabilities 15,196 11,887 17,809 Total Liabilities 68,847 73,861 76,260 EQUITY Issued capital 31,736 30,984 30,984 Share premium 252,058 273,883 261,333 Retained earnings (losses) (188,141) (219,386) (195,073) Total Equity 95,653 85,481 97,244 Total Equity & Liabilities 164,500 159,341 173,504 Statement of financial position The group is exposed to general business market risk, credit risk, currency risk and revenue risk. The currency risk exposureis mainly due to the fact that operating expenses are mainly incurred in NOK. The currency risk is monitored on a continuous basis and use of derivates to reduce the risk is considered regularly. Per end of the quarter the group does not have any derivatives. Operational issues, as well as future changes in day rates and utilization of the unit may impact the valuation of the asset further. Financial review Q2-26: • Jacktel’s only asset is the accommodation rig called Haven • Cash of $12.3m • Current financing consist of a $70m Bond loan with 10% interest rate – Current Interest-bearing debt includes accrued interest and instalments next 12 months – Other Interest-bearing debt includes long-term liabilities less unamortized loan transaction costs ($1.3m) which are amortized over the loan’s lifetime – Remaining outstanding loan amount of $65m Balance SheetComments
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August 25, 2026 | 12 CONSOLIDATED CASH FLOW STATEMENT Q2-26 Q2-25 FY-2025 6M-2026 6M-2025 USD 000` Unaudited Unaudited Audited Unaudited Unaudited Cash from operations Net profit/(loss) before tax 4,669 3,911 32,375 6,932 8,061 Depreciation and impairment 4,852 4,281 (3,537) 9,696 8,552 Financial income (198) (35) (309) (331) (88) Financial expenses 2,016 2,220 11,207 3,870 4,311 Changes in working capital (5,313) (5,899) (4,848) (6,060) (11,640) Net cash from operating activities 6,026 4,478 34,888 14,107 9,196 Cash from investing Interest received 84 35 309 206 88 Acquisition of fixed assets - (64) (806) - (94) Net cash from investing activities 84 (29) (497) 206 (6) Cash from financing Dividend payments (11,438) - (12,550) (11,438) - Instalment MAP loan - (3,660) (10,980) - (7,320) Repayment of MAP loan - (61,580) - - Interest paid (3,500) (1,855) (5,812) (3,500) (3,783) Proceeds Bond loan - 70,000 - - Instalment Bond loan (5,000) - (5,000) - Refinancing cost - (1,522) - - Capital increase - - 2,915 - Paid financial expenses (120) (98) (1,594) (163) (144) Net realized agio 15 (43) (245) (114) 34 Net cash from financing activities (20,043) (5,656) (24,283) (17,300) (11,213) Net change in cash and cash equivalents (13,933) (1,207) 10,108 (2,987) (2,023) Starting Cash 26,265 4,395 5,211 15,319 5,211 Ending Cash 12,332 3,188 15,319 12,332 3,188 Cash Flow Financial review Q2-26: • $6.0m generated from operating activities • Negative $5.3m change in working capital as a result of a charter hire paid early July and not late June • Net finance from financing activities of negative $20.0m following dividend payments, installment and interest paid on Bond loan – Interest and installments are payable in April and October • Net decrease in cash of $13.9m with a cash balance of $12.3m per quarter end • With continued solid operations a strong cash generation is expected in the next quarters Cash flow developmentComments
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August 25, 2026 | 13 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY SHARE CAPITAL SHARE PREMIUM RETAINED LOSSES TOTAL EQUITY USD 000` Unaudited Equity as at December 31st, 2024 (Audited) 30,984 273,883 (227,449) 77,418 Net income (loss) 2025 - - 32,375 32,375 Dividends (12,550) (12,550) Equity as at December 31st, 2025 (Audited) 30,984 261,333 (195,073) 97,244 Net income (loss) 2026 - - 6,932 6,932 Capital increase net of transaction costs 752 2,163 - 2,915 Dividends - (11,438) - (11,438) Equity as at June 30th, 2026 (Un-audited) 31,736 252,058 (188,141) 95,653 Changes in Equity Financial review The total number of shares in Jacktel AS at the end of the quarter was 258,300,000
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August 25, 2026 | 14 Notes 1. General information The Jacktel group consists of Jacktel AS and Haven Rigco AS (owner of Haven). Jacktel AS is a company listed on Euronext Growth. Jacktel AS and the 100% owned subsidiary Haven Rigco AS, are located at Vestre Svanholmen 6, 4313 Sandnes, Norway. The group, which was established in 2009, specializes in offshore accommodation and is the owner of the Haven Jack Up accommodation unit. 2. Basis of presentation The consolidated interim financial statements for Q2 2026 have been prepared in accordance with IFRS accounting standards (IFRS) as adopted by the European Union (“EU”), including IAS 34 Interim Financial Reporting. The financial statements have been prepared based onthe going concern assumption. The consolidated financial statements have not been subject to auditing. The European Securities and Markets Authority (ESMA)issued guidelines on Alternative Performance Measures (APM’s) that came into force 3 July 2016. Peers comparable to the group vary with regards to, interalia, capital structure and mix of leased and owned rigs. Non-IFRS financial measures can assist the stakeholders in comparing performance on a more consistent basis without regard to factors such as depreciation and amortization. Jacktel has defined and explained the purpose of the following APM’s: EBITDA means earnings before financial items and tax, excluding impairment losses, depreciation and amortization. EBIT means earnings before financial items and tax. CASH OR LIQUIDITY RESERVE. When used means cash and bank deposits and provide information about the cash balance at the balance sheet date and the group’s ability to meet it current liabilities. 3. Significant accounting policies The accounting policies adopted in the preparation of the consolidated financial statements are consistent with those followed in the preparation of Jacktel’s annual financial statements and accompanying notes for the financial year ended 31st December 2025. Lease income from operating leases is recognized as income on a straight-line basis over the lease term, and other receivable for preparation to meet and fulfil the requirements of the specific contract, unless another systematic basis is more representative. Financial review 4. Debt overview *) Book value of the loans is netted with transaction costs to be amortized over the loan’s lifetime. Jacktel AS successfully refinanced its existing debt with a 4 year 70 MUSD bond loan in October 2025. The bond loan has a 10% coupon and 10 MUSD in total annual payable instalments. The bonds were listed on the Nordic ABM in Oslo mid -January 2026. 5. Property Plant & Equipment Capitalized amounts relate entirely to the group’s accommodation rig Haven. 6. Cash 30.06.2026 Long-term interest-bearing debt (un-audited) (In USD 1000') Description Lender/Trustee Nominal amount USD Interest rate Book value USD 70 MUSD Loan Nordic Trustee AS 70 000 10,0% 63 651 Current portion 10 000 Long-term interest bearing debt - USD 70 000 53 651 31.12.2025 Long-term interest-bearing debt (In USD 1000') Description Lender/Trustee Nominal amount USD Interest rate Book value USD 70 MUSD Loan Nordic Trustee AS 70 000 10,0 % 68 451 Current portion 10 000 Long-term interest bearing debt - USD 80 000 58 451 (In USD 1000') Un-audited 1st January 2026 150 000 Additions 0 Depreciation -9 696 30th June 2026 140 304 (In USD 1000') Un-audited 30.06.26 2025 Cash and bank deposits 12 332 15 311 Restricted cash* 0 8 Cash and cash equivalents on the balance sheet 12 332 15 319 * Restricted cash relates to tax withholding account
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Table of Contents Q2-26 Highlights Operational Review Financial Review Market Outlook Appendix
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August 25, 2026 | 16 Market outlook per Q2-26 Market outlook • Following the mobilization of Haven from Draupner to Valhall end of May, the rig is committed to AkerBP on a firm contract in to 1Q 2028 and through 1H 2028 including options • Jacktel is optimistic there will be further demand for the rig with various projects being planned by operators on the Norwegian Continental Shelf • High focus from the Norwegian regulator on the longevity and maintenance of O&G installations on the NCS is expected to result in increased maintenance and modification work on several offshore installations, thereby increasing demand for additional bed capacity • Continued focus on minimizing the CO2 footprint favors demand for vessels which do not use propulsion for station keeping • A Jack Up is the only vessel type with a track record of being powered from shore and be powered by renewable energy while being gangway connected to offshore installations • The Jack Up is the only vessel type which can provide clients with 100% uptime, facilitating a more efficient project execution • Recent awards of accommodation contracts to the drilling jack ups such as Noble Interceptor and West Elara shows strength in market, as well as O&G companies' preference for use of Jack ups which provide superior gangway connection • Improved supply / demand balance due to rigs relocating to new markets like Brazil, West Africa and Australia, as well as some Jack Up’s transitioning from Oil & Gas to the renewables market • Turmoil in the Middle East has put energy security back on the agenda in Europe
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August 25, 2026 | 17 CONTRACTED DEMAND 2026 2027 2028 Name Owner Build year Hull NCS/UKCS DP POB Location Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Haven Jacktel AS 2011 Jack-up NC S No DP 444 Norway x x x x x x x x x y 0 0 Floatel Endurance Floatel 2015 Semi NC S DP3 440 Norway x x x x x x y y y Floatel Superior Floatel 2010 Semi NC S DP3 440 Norway x x x x x y y Safe Boreas Prosafe 2015 Semi NC S DP3 450 Australia x x x x x x y y 0 0 0 0 Safe Zephyrus Prosafe 2016 Semi NC S DP3 490 Brazil x x x x x x x 0 0 0 0 0 C rossway Eagle Macro Offshore 2015 Jack-up UKC S No DP 354 USA x x x x x x x x x x x x Floatel Triumph Floatel 2016 Semi UKC S DP3 500 Australia x x x y Floatel Victory Floatel 2013 Semi UKC S DP3 500 Brazil x x x x x x Safe Eurus Prosafe 2019 Semi UKC S DP3 500 Brazil x x x x x 0 0 0 0 0 0 0 Safe Notos Prosafe 2016 Semi UKC S DP3 500 Brazil x x x x x x x x x x x x Safe C aledonia Prosafe 1982 Semi UKC S No DP 454 UK x 0 0 0 0 0 x x y 0 0 0 POSH Arcadia POSH 2016 Semi UKC S DP3 720 Brazil x x x x x x x x x x x x POSH Xanadu POSH 2014 Semi UKC S DP3 720 Brazil x x x x x x x x x x x x NOR Spirit (prev. Arendal Spirit) Altera 2015 Semi UKC S DP3 460 Angola x x x x x x x x x x 0 0 OOS Tiradentes Bluewhale 2018 Semi UKC S DP3 600 Brazil x x x x x x y y y y y y Edda Fides Østensjø 2011 Mono UKC S DP3 600 Angola x x 0 0 0 0 0 0 0 0 0 0 Edda Fortis Østensjø 2016 Mono UKC S DP3 800 Far East x x x x x y 0 0 0 0 0 0 Blue Phoenix (prev. Hai Shi 5, OOS Walcheren)Bluewhale 2020 Semi UKC S DP3 750 Brazil 0 x x x x x x x x x x x Blue Gretha (prev. Hua Dia Zhong) Bluewhale 2012 Semi UKC S DP3 618 Nigeria x x x x x x 0 0 0 0 0 0 Blue Qilin (prev. Hai Shi 3, OOS Serooskerke) Bluewhale 2020 Semi UKC S DP3 750 Brazil 0 x x x x x x x x x x x Guinevere (prev. Stavanger Spirit) SinoOcean 2024 Semi UKC S DP3 460 Asia 0 PB 0 0 0 0 0 0 0 0 0 0 Venus Gran Energia 2015 C ompact DP3 431-501 Brazil x x x x x x y y y y y y Olympia Gran Energia 2013 C ompact DP3 501 Brazil x x x x x x 0 0 0 0 0 0 Temis Drake Maritime 2015 C ompact DP3 431-501 Romania x x x x x x 0 0 0 0 0 0 Dan Swift J. Lauritzen 2009 Mono DP2 291 South America x x x x 0 0 0 0 0 0 0 0 Aquarius Brasil Sembcorp 1999 Mono DP2 533 Brazil x x x x x x x x x x x 0 Reliance (prev. Floatel Reliance) Gran Energia 2010 Semi DP2 500 Brazil x x x x x x x x 0 0 0 0 Safe Vega Prosafe Semi UKC S DP3 500 NB at yard Safe Nova Prosafe Semi UKC S DP3 500 NB at yard C rossway Dolphin Yard Jack-up UKC S No DP 354 NB at yard Limited supply of NCS capable accommodation units Source: The Company, Clarksons Market outlook Harsh environment accommodation vessel availability Firm Option Comments • Low vessel availability for competing supply of accommodation units • Majority of units on contract through 2026, with 13 units operating on longer term contracts in Brazil • Two units currently warm stacked and three newbuilds at yard Warm stacked Warm stacked
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August 25, 2026 | 18 54 projects 67 projects Offshore wind moving farther from shore will be a future demand driver Source: 4C Offshore Wind Database 1) Graph only shows offshore wind projects with water depth between 50m and 100m, Haven’s maximum water depth. Projects that do not disclose water depth and distance from shore are excluded Market outlook CommentsOffshore wind projects by completion year and distance to shore1) X-axis: Project completion year – Y-axis: Distance from shore (km) • Increased share of offshore wind installations are being installed further from shore, increasing the need for accommodation units during construction • Graph shows number of projects by year that are between 50m and 100m water depth • We believe Haven will be a good candidate for larger projects with installations between 50m and 100m water depth, and further than 40km from shore • There is a particular need for the hook up and commissioning of substations connected to the offshore wind parks 0 50 100 150 200 2024 2026 2028 2030 2032 2034 2036 2038 2040 2042 20442022 Project completion year Distance from shore (km) Asia Europe North America South America Australasia Relevant for accom. > 40 km
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August 25, 2026 | 19 The market is seeing improving rates Note: Includes LOIs Source: Press releases and disclosures from public companies Market outlook Global dayrate development Dayrate in USD/day observed at time of contract signing ’20 ’21 ’22 ’23 ’24 ’25’14 0 50 ’10 100 ’11 150 ’12 ’13 250 ’15 300 ’16 350 ’17 400 ’18 450 ’19 200 $k/day Haven Total Energies Haven ConocoPhillips Haven Maersk Contract sign date Haven Total Energies Haven Aker BP Haven Equinor Haven Equinor NCS North America UK Far East Brazil Haven
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Table of Contents Q2-26 Highlights Operational Review Financial Review Market Outlook Appendix
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August 25, 2026 | 21 Jacktel – Harsh environment offshore jack-up accommodation provider Appendix Simplified group structureJacktel in brief • The Jacktel group owns 100% of Haven, a harsh environment accommodation jack-up built in 2011 • The Company currently trade on Euronext Growth in Oslo under the ticker “JACK” • Haven has a unique market position within offshore accommodation as the only harsh environment, Norwegian Continental Shelf (NCS) compliant, jack-up accommodation vessel • The Vessel offers high quality accommodation services for up to 444 persons during operations related to maintenance and modification work on producing fields, hook-up and commissioning of new fields and tie- backs • Extensive track record from working with blue-chip clients in Norway and Denmark • Haven is commercially and technically managed by Macro Offshore Management – Sandnes based offshore accommodation management company – In addition to management of Haven, Macro Offshore owns and operates the offshore accommodation jack-up Crossway Eagle – Experienced management team consisting of Bjørn Eie Henriksen, Daniel Samuelsen and Tom Friestad, collectively adding up to more than 70 years of industry experience Haven Rigco AS 100%
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August 25, 2026 | 22 Providing reliable and critical offshore accommodation services Appendix Production facility Gangway Cranes Cabins Helideck Lifeboats
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August 25, 2026 | 23 Haven has a unique market position within offshore accommodation Appendix Lower CO2 footprint Higher operational uptime and savings • Industry with increased focus on reducing CO2 footprint across supply chain • Haven is estimated to contribute to a >60t per day in reduced CO2 emissions compared to accommodation vessels with propulsion-based station keeping • Haven can operate on onshore renewable energy • Haven stands firmly on the seabed and can operate without being impacted by waves and currents • 100% uptime vs. 85% for semi submersibles, due to reliable gangway connection • Significant reduction in manhours, more efficient project management, and usage of support services offshore/ onshore, resulting in lower operational cost for client • Acceleration of first oil
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August 25, 2026 | 24 Haven has close to 100% uptime since delivery Consistently delivering top performance to blue-chip clients in Norway and Denmark Appendix 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028Year Ekofisk fields, Norway @ €208k/day Dan fields, Denmark @ $78k/day Transition / upgrade engineering and yard Johan Sverdrup, Norway @ $358k/day Paid stand-by @ $49k/day SPS and preparations for next contract Tyra Field, Denmark @ $35m Extension, $18m Draupner, Norway @ $102m Installation of extended legs and new suction caissons required for the Johan Sverdrup contract 5-year SPS and removal of caissons and reinstalling footings previously used for North Sea operations Paid stand-byFirm Options Yard, Contract preparation Valhall, Norway @ $121m
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August 25, 2026 | 25 Historical financials Opex estimates are based on current FX rates Appendix Historical revenue and EBITDA Figures in USDm Comments • Haven has generated $36m in average annual EBITDA from 2012 – 2022 • Jacktel’s cost structure is transparent and competitive to peers • Opex varies between jurisdiction, from $30k in Denmark to $50-55k per day in Norway 79,9 70,4 78,0 60,1 15,6 90,2 141,6 8,9 12,4 28,0 32,6 51,7 70,064,1 65,5 64,1 35,9 1,0 -8,5 69,2 108,3 -2,8 -6,9 13,0 17,4 19,8 39,7 ’12 ’13 ’14 ’15 ’16 ’17 ’18 ’19 ’20 ’21 ’22 ’23 ’24 ’25 0.0 Revenue EBITDA
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August 25, 2026 | 26 Macro Offshore Management – commercial and technical manager Appendix About Macro Offshore Management Management Team Bjørn Henriksen CEO • More than 30 years of offshore industry experience • Previously held the position as CEO of Prosafe Production, President of Prosafe’s Accommodation Business and CFO and COO of Prosafe SE in addition to various managerial positions in Transocean and Arthur Andersen • State Authorized Public Accountant Daniel Samuelsen CFO • More than 10 years of experience across various industries with track record in roles such as Cost Controller for the Johan Sverdrup project (Haven), Team Leader and Financial Controller in the accounting sector and Project Financial Controller at Aker Solutions • Holds a Master’s degree in Applied Finance from the University of Stavanger, which included an international exchange program at the University of California, Berkeley Tom Friestad COO • More than 30 years of oil & gas experience • Previously held position as Operations & Technical Manager of Macro Offshore Management AS, Completion Manager of the Haven at Johan Sverdrup Project, CEO of Sandaband AS, Operations Manager at Prosafe Drilling Services AS as well as experience from offshore operation Macro Offshore Management is a management company offering high-end offshore accommodation vessels and is headquartered in Sandnes, Norway • Long track record from operating assets in Denmark, UK, US and on the NCS • High focus on cost efficient operations has resulted in substantially reduced operating cost since taking over as technical manager of Haven in 2020 Experienced management with deep understanding of market drivers secures high utilization of Haven at acceptable commercial terms Contract with AkerBP safeguards utilization into Q1 2028 at acceptable terms • Manager to work with customers to maximize utilization and improve earnings
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August 25, 2026 | 27 Vessel specifications Appendix Vessel specifications Bed capacity 444 Water depth capacity Up to 106 meters Overall length x width 118m x 50m Free deck area 450 m2 Additional deck load capacity 4,500 tons Crane capacity 75 tons @ 16m Bridge length 30m+ Offices and meeting rooms 64 for client use Recreational areas Cinema, gym, catering, gallery, mess rooms, coffee and reading lounges accommodating 400 guests Other facilities Hospital facilities, self sufficient and potable water The unit provides clients with power, fuel and water across gangway Year built 2011
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August 25, 2026 | 28 Accommodation jack-ups have a superior emissions profile Appendix CO2 emissions per bed Kg CO2 emissions per bed per day for various asset types CO2 emissions per day Tonnes CO2 emissions per day for various asset types • Haven is currently the only accommodation jack-up vessel capable of running on renewable electricity generated onshore • While working for AkerBP on Valhall, Haven is connected to onshore electrical grid • As a jack-up is able to achieve higher uptime compared to semi-subs – operating at a rate of 80-85% utilization – Haven can achieve more efficient employment of resources and labor, further reducing carbon footprint relative to other solutions 0 30 60 90 Haven with onshore electricity connection Accommodation jack-up Moored DP 0 60 120 180 240 Haven with onshore electricity connection Accommodation jack-up Moored DP Haven Haven
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August 25, 2026 | 29 Providing accommodation capacity during offshore project work 1) Based on historical projects mapped by Arkwright back to 2010. Based on 72 projects in total, 49 of which are North Sea projects Appendix Present during the installation, construction, hook-up and commissioning of new facilities Production Maintenance and Modification on existing fields Start-up Hook-up & Commissioning of new fields End-of-life Decommissioning at end of life 1 2 3 Present during repair, upgrade, maintenance or modification (MMO) of existing installations or hook-up of satellite fields Provides extra capacity during decommissioning of offshore installations MMO spendingActivity in field development P&A and decommissioning activity Share of historical demand1) Based on number of days Key demand drivers Age of installations and field economics Regulations Discoveries Oil price Age of installations Lifetime extensions 25% 35% Global North Sea 74% 64% Global North Sea 1%Global 1%North Sea Project visibility Visibility: High Avg. time between contract sign and start-up1): ~20 months Visibility: Low Avg. time between contract sign and start-up1): ~7 months Visibility: High Avg. time between contract sign and start-up1): N/A Offshore wind Demand for accommodation vessels could potentially become material as increased number of installations are being installed further from shore Environmental targets and regulations Capacity installed Distance from shore Visibility: Limited data <1%Global <1%North Sea Key demand drivers Share of historical demand1) Based on number of days Project visibility New marketEstablished markets
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August 25, 2026 | 30 Disclaimer and important information Appendix This report (the "Report") has been prepared by Jacktel AS (the "Company" and, together with its subsidiary Haven Rigco AS, the "Group") for information purposes. The Report may contain forward-looking information and statements relating to the business, financial performance, and results of the Group and/or industry and markets in which it operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "aims", "anticipates", "believes", "estimates", "expects", "foresees", "intends", "plans", "predicts", "projects", "targets", and similar expressions. Such forward-looking statements are based on current expectations, estimates and projections, reflect current views with respect to future events, and are subject to risks, uncertainties, and assumptions. Forward-looking statements are not guarantees of future performance, and risks, uncertainties and other important factors could cause the actual results of operations, financial condition and liquidity of the Group or the industry to differ materially from results expressed or implied in this Report by such forward-looking statements. No representation is made that any of such forward-looking statements or forecasts will come to pass or that any forecast result will be achieved, and you are cautioned not to place any undue influence on any forward- looking statement. The Company is making no representation or warranty, express or implied, as to the accuracy, reliability or completeness of the Report. This Report does not constitute an offer to sell or a solicitation of an offer to buy, or a recommendation regarding, any securities of the Company.
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