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Q2 2026 Report 28th August 2026
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Disclaimer Ventura Offshore Holding Ltd. and its affiliates (hereinafter “Ventura Offshore” or the “Company”) has prepared this presentation solely for informational purposes. This presentation contains proprietary information regarding the Company. This presentation and any information herein shall remain the property of the Company. The Company reserves the right to require the return of this presentation (together with any copies or extracts thereof) at any time, without any advance notice. This presentation is for the exclusive use of the persons to whom it is addressed and their advisors. By receiving this presentation, you agree that you will keep all information contained herein and not already in the public domain in strict confidence and that you shall be liable for any misuse or unauthorized disclosure of this presentation, or the information contained herein. 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Q2 2026 Highlights • Secured 1,955 days of contract extensions across Victoria, Carolina and Atlantic Zonda • Raised US$75 million and extended bond instalments to April 2027 • Extended RCF maturity to December 2026 • 4th optional well exercised with Eni 98% Operational Uptime $ 111.7k Average Daily OPEX ² $ 21.9 MM Adjusted EBITDA $ 973 MM Firm Revenue Backlog ¹ $ 105.2 MM Free Cash (Liquidity) (1) As of June 30, 2026 and including the Zonda management fee and Renecom results. (2) OPEX for the owned rigs, excluding ancillary services for Catarina. 3
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Fleet Contract Status ¹ Rig Client Country 2025 2026 2027 2028 2029 2030 2031 2032 2033 Owned Rigs Carolina Petrobras Brazil Victoria Petrobras Brazil Catarina ENI Indonesia Managed Rig Zonda Petrobras Brazil ¹ Fleet status as of June 30, 2026. Firm Duration Unilateral extension option Contract Preparation + Acceptance Period Mutually agreed extension option $0 $50 $100 $150 $200 $250 $300 2026 2027 2028 2029 2030 2031 2032 2033 Revenue Backlog USD millions Option Firm 4
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Financial Highlights • Adjusted revenue of $59.8 MM for the quarter consisting of: • $55.7 MM of revenue for the 3 owned units • $4.1 MM in net management fee • OPEX of $31.3 MM for owned rigs • $0.8 MM relating to ancillary services for Catarina contract • $111.7k/d OPEX for owned fleet ¹ • Adjusted G&A of $6.5 MM • Adjusted EBITDA of $21.9 MM • Liquidity as of Q2 • $105.2 MM in free cash • Additional restricted cash of $27 MM on behalf of the Zonda-owners Q2 2026 financials and balance sheet (1) OPEX for the owned rigs, excluding ancillary services for Catarina. 5 $ 59.8 -$ 31.3 -$ 6.5 $ 21.9 Adjusted Revenue OPEX Adjusted G&A Adjusted EBITDA
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Financial Highlights $21.5 $21.9 1Q26 2Q26 Adjusted EBITDA (US$ million) $56.5 $59.8 1Q26 2Q26 Adjusted Revenue (US$ million) $37.2 $105.2 1Q26 2Q26 Free Cash Position (US$ million) Balance Sheet and Liquidity QoQ Financial Performance Accounts Receivable $75.5 MM Mainly: Eni $20.3 MM; Petrobras $29.5 MM; Petrobras (Zonda): $22.7 MM Interest Bearing Debt $190 MM Bond loan amortized by $10 MM in Q2 Utilized RCF $9.5 MM Issued Guarantees 6
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Offshore Market Outlook Global • Offshore field development capex expected to reach ~US$137bn in 2026, +30% YoY ¹ • Sustained demand for deepwater, floating production and subsea developments Latin America • Brazil remains the leading offshore investment hub, with US$25–30bn/year in upstream spending expected • Petrobras expected to account for ~56% of development capex through 2035 • Equatorial Margin gaining relevance as a new exploration frontier, alongside opportunities in Sergipe-Alagoas and Pelotas Basin Asia-Pacific • Indonesia: Multi-year deepwater campaigns across North Ganal, Ganal and Rapak, with Eni / Searah; additional opportunities progressing with Mubadala, PETRONAS and INPEX • India: US$8.8bn offshore exploration program through FY2031, with ONGC advancing new deepwater campaigns • Outlook: Increasing exploration and development activity across the region is creating a growing pipeline of potential opportunities for Catarina beyond 2026 +10 +12 +14 +13 +11 +11 +13 +15 +18 +20 +19 +21 50 60 70 80 90 100 110 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Global Floater under contract utilization 2027(f) vs 2025 Data from CERA Upstream Solution. Compiled Aug. 26, 2026. © 2026 S&P Global. Data labels represent % change between 2027 and 2025 Under contract 2027(f) utilization % 2027 ¹ Source: Westwood Energy (2026). 7
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Long Term View and Positioning Strong growth prospects in Brazil, driven by Petrobras’ and international operators’ discoveries, supported by regular government block offerings Strong Operator in Attractive Brazilian Market Optimized Brazilian operations and local supply chain partnerships ensure a highly competitive cost structure Industry-Leading Low OPEX A competitive fleet and scalable platform well-suited for both Brazilian and international markets Proven Track Record & Scalable Infrastructure An extensive operating history and a strong, established relationship with Brazil's key energy player Operational Excellence with Petrobras A proven ability to capitalize on market opportunities, as demonstrated by the successful acquisition of Catarina, commencement of Zonda's operations and successful recontracting of existing fleet Efficient Implementation 8
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