Dolphin Drilling AS - First quarter 2024 financial results

29 May 2024 07:30 CEST

(Oslo, 29 May 2024) Dolphin Drilling AS (Dolphin Drilling, OSE: DDRIL) today
announced its unaudited results for the three months ended 31 March

2024. The highlights and subsequent events include:

· Operating revenues of USD 10.1 million, EBITDA of USD (17.0) million, and
earnings per share of USD (0.08)
· Seamless integration of Paul B Loyd, Jr., on contract for Harbour Energy Ltd
in the UK
· New contract with Oil India for Blackford Dolphin
· Reactivation and scheduled yard-stay underway for Borgland Dolphin. The
rig's next contract is with EnQuest Ltd in the UK
· Sale of Bideford Dolphin with proceeds of USD 4.1 million
· Granted permission to appeal the legacy UK tax case
· Dolphin continues to contest its position in Nigeria with outcomes still
pending as of reporting day. The company will continue to update the market on
any material developments in the arbitration and court processes as they occur

The Board of Directors report and the first quarter 2024 presentation are
enclosed.

The results will be presented on 29 May 2024 through an audiocast starting 15:00
CET. The presentation will be held by CEO Bjørnar Iversen and CFO Stephen Cox.

Link to Q1 audiocast:

https://channel.royalcast.com/landingpage/hegnarmedia/20240529_2/

Participants may also visit the Investor Relations section of the company's
website at www.dolphindrilling.com and click on the link to "Webcast". There
will be a Q&A session following the presentation. Written questions can be
submitted through the audiocast solution during the presentation, or by email to
Ingolf.gillesdal@dolphindrilling.com in advance.

For further information, please contact:

Ingolf Gillesdal, Corporate Finance and Investor Relations, tel: +47 920 45 320

Stephen Cox, CFO, tel: +44 7800 612 130

Dolphin Drilling | www.dolphindrilling.com

Dolphin Drilling is a leading harsh environment drilling contractor for the
offshore oil and gas industry. Dolphin Drilling owns a fleet of three high
technical standard 4th and 5th generation enhanced Aker H3 and H4 units,
Borgland Dolphin, Blackford Dolphin, and Paul B. Loyd, Jr. operated by an
experienced team with a strong operational track record. The company has
offshore and onshore offices and operations in Norway, Scotland, Brazil, and
Nigeria.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Ingolf Gillesdal, VP Corporate Finance and
Investor Relations Dolphin Drilling AS on 29 May 2024 at the time set out in
this notice on behalf of the company.

More information:
Access the news on Oslo Bors NewsWeb site

619957_Q1_24_Prelim_Earnings_Report.pdf
619957_20240529_DDRIL_presentation.pdf