Ventura Offshore Holding Ltd.: First Quarter 2026 Results

29 May 2026 07:00 CEST

May 29, 2026 - Ventura Offshore Holding Ltd. (the "Company") announces results
for the first quarter of 2026. The results highlights will be discussed in an
audio conference call on Friday, May 29, 2026 at 14:00 CEST. Dial-in details
for the conference call can be found below.

Highlights

* Quarterly operational uptime of 96.8% and financial uptime of 91.1% for the
combined fleet of owned and managed rigs
* Net Income of $25.8 million for the quarter
* Adjusted EBITDA of $21.5 million for the quarter
* Free cash position of $37.2 million

Subsequent events

* Announced contract extension of 1,455 days for SSV Victoria
* Announced contract extension of 135 days for DS Carolina
* Announced contract extension of 365 days for Atlantic Zonda
* Raised $75 million through tap issue under bond loan
* Agreed revised bond terms postponing remaining instalments under bond loan
to April 2027
* Agreed extended maturity date of Revolving Credit Facility to December 31,
2026

Guilherme Coelho, Chief Executive Officer commented:

"We are very happy to report another quarter of strong operational execution
delivered by the Ventura Offshore teams, with operational uptime again at high
levels. Many of the most significant milestones for the Company, nonetheless,
occurred shortly after quarter-end, when we announced the securing of close to
half a billion dollars in additional backlog to our rigs operating in Brazil,
further strengthening our revenue visibility, and the successful raise of $75
million through a tap issue under our existing bond framework. Together, these
achievements reflect the quality of our operational platform, strengthen our
commercial position, and improve our financial flexibility, as we continue to
position ourselves for long-term value creation."

Link to conference call:

https://teams.microsoft.com/l/meetup-join/19%3ameeting_ZDQ4YmI2YzMtOWVlZC00ZjY1L
TgwYTktMDZkYjhlODAwNTY5%40thread.v2/0?context=%7b%22Tid%22%3a%224cbfea0a-b872-47
f0-b51c-1c64953c3f0b%22%2c%22Oid%22%3a%229dd306f2-be12-4fa5-b89a-0e445936890c%22
%7d
(https://teams.microsoft.com/l/meetup-join/19%3ameeting_ZDQ4YmI2YzMtOWVlZC00ZjY1
LTgwYTktMDZkYjhlODAwNTY5%40thread.v2/0?context={"Tid"%3a"4cbfea0a-b872-47f0-b51c
-1c64953c3f0b"%2c"Oid"%3a"9dd306f2-be12-4fa5-b89a-0e445936890c"})

For further queries, please contact:

Guilherme Coelho
Chief Executive Officer
+55 21 99311 1167
guilherme.coelho@ventura-offshore.com

This information is subject to disclosure under the Norwegian Securities
Trading Act, §5-12. The information was submitted for publication, through the
agency of the contact persons set out above, at 2026-05-29 07:00 CEST.

About Ventura Offshore Holding Ltd.
Ventura Offshore Holding Ltd. is a deep-water drilling contractor providing
offshore drilling services to the oil and gas industry since 1998 in Brazil
and worldwide. The Company owns and operates one drillship, DS Carolina, and
two semisubmersible drilling rigs, SSV Victoria and SSV Catarina, and further
manages one drillship, Atlantic Zonda. The drilling rigs are currently
operating offshore Brazil and Indonesia. The Company is incorporated under the
laws of Bermuda and was listed on Euronext Growth Oslo on June 5, 2024, under
the ticker "VTURA".

Additional information about Ventura Offshore Holding can be found at
https://ventura-offshore.com/en/a-ventura/.

Forward-looking statements
This press release and the attached reports may include "forward-looking
statements". These statements can be identified by the use of forward-looking
terminology, including the terms "assumes," "believes," "estimates,"
"anticipates," "probability," "risk," "target," "goal," "objective,"
"expects," "intends," "projects," "plans," "may," "will" or "should" or, in
each case, their negative or other variations or comparable terminology. These
forward-looking statements include all matters that are not historical facts.
They include statements regarding the intentions, beliefs, or current
expectations of the Company concerning, among other things, the Company's
results of operations, financial condition, liquidity, prospects, growth,
strategies, and the industry in which it operates, and include any business
plan information included in this report. Any forward-looking statements which
the Company makes in the report speak only as of the date of such statement.
These statements are not guarantees of future performance and involve certain
risks, uncertainties, and assumptions that could cause actual results to
differ materially from those in the forward-looking statements. As a result,
you should be cautious in placing any reliance on such statements and make
your own judgment as to the likelihood of such statements materializing in the
future and the reasonableness of any underlying assumptions. The Company does
not intend, and undertakes no obligation, to revise the forward-looking
statements included in this report to reflect any future events or
circumstances.

The Company has included non-US GAAP financial measures in the reports. These
financial measures may not be comparable to those of other companies.
Reference to these non-GAAP financial measures should be considered in
addition to US-GAAP financial measures, but should not be considered a
substitute for results that are presented in accordance with US GAAP.

This press release and the attached presentation do not constitute an offering
of securities or otherwise constitute an invitation or inducement to any
person to underwrite, subscribe for or otherwise acquire securities in the
Company. The release, publication or distribution of this press release in
certain jurisdictions may be restricted by law, and therefore persons in such
jurisdictions into which this press release is released, published or
distributed should inform themselves about, and observe, such restrictions.

An investment in the Company involves risk, and several factors could cause
the actual results, performance or achievements of the Company to be
materially different from any future results, performance or achievements that
may be expressed or implied by statements and information in this press
release and the attached presentation, including, among others, the risk
factors described in the Company's recent information document. An investment
in the Company is only suitable for investors who understand the risk factors
associated with this type of investment and who can afford to a loss of all or
part of their investment.

More information:
Access the news on Oslo Bors NewsWeb site

674847_VTURA Holding 1Q26 Highlights Report.pdf
674847_VTURA Holding 1Q2026 Interim Report.pdf