SED Energy Holdings Plc: EDrill-2 commences operations under multi-year contract with PTTEP

20 Oct 2025 07:00 CEST

Nicosia, Cyprus - October 20, 2025 - SED Energy Holdings Plc ("Energy
Holdings") is pleased to announce that the tender-assist drilling rig
EDrill-2, owned by its wholly owned subsidiary Energy Drilling, has
successfully commenced operations under its previously announced five-year
contract with PTT Exploration and Production Public Company Limited ("PTTEP").

EDrill-2 mobilized to the Gulf of Thailand, where it began operations
following the timely and on-budget completion of preparatory work in
Singapore.

Marcus Chew, CEO of Energy Drilling, commented:

"We are very pleased to see EDrill-2 on location and commencing operations. I
want to thank our offshore crews and onshore teams for their dedication and
professionalism in ensuring a safe, efficient, and on-schedule start-up. We
look forward to supporting PTTEP over the coming years and consistently
meeting their expectations for high performance and reliability."

The contract has a firm duration of five years with an additional three-year
optional period. It includes a rate adjustment clause based on a market index,
applicable during the final two years of the firm period and throughout the
optional period. The total potential value of the contract is estimated at USD
250 million, assuming full exercise of the optional period and favourable
index adjustments.

Kurt M. Waldeland, CEO of Energy Holdings, added:

"The start of operations for EDrill-2 marks an important step in delivering on
our strategy. With all rigs fully contracted, we continue to deliver strong
earnings visibility, supporting sustainable cash generation and attractive
shareholder distributions."

For more information, contact:
Investor Relations: ir@energyholdings.cy
Press: contact@energyholdings.cy

About Energy Holdings
SED Energy Holdings Plc (ticker code "ENH) is a strong industrial partner with
a diversified portfolio of resilient, cash-generative assets supported by a
robust revenue backlog and a conservative capital structure. Energy Holdings'
primary focus is on distributing all excess liquidity to shareholders, while
also pursuing disciplined, value-accretive growth. For more information,
please visit www.energyholdings.cy.

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