Energy Holdings Q1 2026: Record results and increased shareholder distributions

29 May 2026 06:00 CEST

Limassol, Cyprus -- May 29, 2026 -- SED Energy Holdings Plc ("Energy
Holdings") delivered record results in the first quarter of 2026. Revenue and
EBITDA increased substantially year-over-year, driven by a fully active fleet
at improved day rates, strong operational execution, and continued capital
discipline. Early in the quarter, the company secured an amendment to its debt
facility, significantly reducing annual amortization and supporting strong
cash flows.

The Board has proposed a USD 25 million shareholder distribution for the first
quarter and announced a full-year distribution guidance of USD 90-110 million.

"2026 started on a strong note for Energy Holdings. The first quarter marked
the first full quarter with all rigs and vessels on contract, generating
record financial performance. This represents an important milestone and
demonstrates the earnings capacity of the platform we established in 2025,"
said Kurt M. Waldeland, CEO.

With solid contract coverage, limited capital expenditure requirements, and a
conservative balance sheet, Energy Holdings has a robust foundation for
sustained shareholder distributions, while preserving financial flexibility to
pursue value-accretive opportunities.

"We enter the remainder of 2026 on strong footing with a fully deployed fleet
and a clear strategy. Our focus remains firmly on maintaining a strong backlog
and converting strong operational performance into attractive, sustainable
returns for our shareholders," Waldeland continued.

Q1 2026 highlights:

* Strong revenue and EBITDA growth year-over-year, driven by solid operational
execution and high utilization.
* Full fleet active and on contract across both Energy Drilling and SeaBird
Exploration.
* Strong balance sheet with industry-leading leverage of 0.3x last twelve
months adjusted EBITDA.
* Unlocked further financial synergies through an amended debt facility,
reducing annual amortization from approximately USD 20 million to
approximately USD 8 million.
* Firm revenue backlog of USD 393 million providing significant earnings
visibility.
* The Board has proposed a USD 25.0 million shareholder distribution for the
first quarter of 2026.
* Full-year guidance of USD 90-110 million in shareholder distributions.

First quarter 2026 presentation

The first quarter 2026 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 first quarter of
2026 in a live audio webcast today at 10:00 CEST, 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.streamhub.no/viewer-registration/XhEKf1Qy/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
(http://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:
Access the news on Oslo Bors NewsWeb site

674835_SED Energy Holdings Plc Q1 2026 Report.pdf
674835_SED Energy Holdings Plc Q1 2026 Presentation.pdf