Energy Holdings Q4 2025: High earnings visibility and a clear framework for continued value creation

24 Feb 2026 06:00 CET

Nicosia, Cyprus - February 24, 2026 - SED Energy Holdings Plc ("Energy
Holdings") delivered a strong fourth quarter, concluding a transformational
year for the Group. Revenue and EBITDA increased significantly year-over-year,
supported by higher activity and improved day rates. During the quarter,
Energy Drilling commenced long-term contracts for EDrill 2 and GHTH,
completing the transition to a fully contracted fleet and providing strong
earnings visibility into 2026 and beyond.

The Board has proposed a USD 22.5 million shareholder distribution for the
fourth quarter, bringing full year 2025 distributions to USD 82.5 million.

"The fourth quarter marked a strong conclusion to a pivotal year for Energy
Holdings. Following the successful formation of the Group in the first half of
the year, we completed the final quarter with all assets operational, strong
earnings visibility, and a clear framework for continued value creation," said
Kurt M. Waldeland, CEO.

In February 2026, the Company amended the repayment profile of its debt
facility, significantly reducing annual mandatory repayments. This amendment
demonstrates how Energy Holdings continues to unlock financial synergies from
the merger, reflecting the increased scale, diversification, and cash flow
visibility of the combined Group. The improved repayment profile further
strengthens the financial flexibility of the company while maintaining a
conservative capital structure and supporting future cash flows.

"Looking ahead, the combination of full fleet utilization, long-term
contracts, high earnings visibility and enhanced financial flexibility,
provides a strong basis for substantially higher shareholder distributions in
2026 compared to 2025. While distributions remain a priority, we also continue
to assess selective growth opportunities that strengthen our industrial
platform and enhance long-term value. We enter 2026 with confidence in our
strategy, our teams, and our ability to continue delivering on our
commitments," Waldeland continued.

Q4 2025 highlights:

* Revenue and EBITDA increased year-over-year, driven by solid operational
execution and high fleet utilization at improved day rates.
* Full fleet active and on contract following contract commencements for
EDrill-2 and GHTH during the quarter.
* Strong balance sheet with industry-leading leverage of 0.4x last twelve
months adjusted EBITDA at quarter-end.
* In the first quarter of 2026, the Company secured amendments to its debt
facility reducing annual amortization from approximately USD 20 million to
approximately USD 8 million.
* The Board has proposed a USD 22.5 million distribution for the fourth
quarter of 2025, bringing total 2025 distributions to USD 82.5 million.
* Firm backlog of USD 466 million, including post quarter extensions for both
the Eagle Explorer and the Fulmar Explorer, securing firm commitments to
mid May and mid June 2026, respectively.

Fourth quarter 2025 presentation
The fourth quarter 2025 materials are enclosed and available on the company's
website: www.energyholdings.cy/investors/financial-reports/.

Energy Holdings will present its financial results for the fourth quarter of
2025 in a live audio webcast today at 10:00 CET, hosted by Kurt M. Waldeland,
Chief Executive Officer, Sveinung Alvestad, Chief Financial Officer, and Viggo
Pedersen, Chief Investment Officer.

The presentation will be followed by a Q&A session and questions may be
submitted in writing at any time during the event. A recording of the webcast
will be made available on the company's website after the live event has been
concluded.

Webcast link: https://events.webcast.no/viewer-registration/UUveL6Ff/register

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

About SED Energy Holdings Plc
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

This information is considered 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.

More information:
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666514_Q4 2025 SED Energy Holdings Plc.pdf
666514_Q4 2025 SED Energy Holdings Plc Presentation.pdf