Jacktel As · OSL:JACK
Jacktel As — Investor Presentation (March 2026)
33 slides from Jacktel As's investor presentation, Mar 16, 2026
Slide 1: Jacktel Company presentation
Jacktel Company presentation
Slide 2: Disclaimer and important information
Disclaimer and important information This presentation and its appendices (the "Presentation") has been produced by Jacktel AS (the "Company" and, together with its subsidiary Haven Rigco AS, the "Group") solely for information purposes. By attending a meeting where this Presentation is made, or by
Slide 3: Table of content
Table of content EXECUTIVE SUMMARY MARKET FINANCIALS APPENDIX March 16, 2026 | 3
Slide 4: Jacktel – Harsh environment offshore jack-up accommodation provider
Executive summary Jacktel – Harsh environment offshore jack-up accommodation provider Jacktel in brief Firm contract backlog with Equinor and AkerBP ▪ Jacktel AS owns 100% of Haven, a harsh environment accommodation jack-up Year 2024 2025 2026 2027 2028 built in 2011 (the “Vessel”) Q4 Q1 Q2 Q3 Q4 Q1
Slide 5: Providing reliable and critical offshore accommodation services
Executive summary Providing reliable and critical offshore accommodation services Production facility Key advantages Increased productivity due to reduced transfer times and improved reliability Cranes Better safety from fewer transfers and Helideck less exposure to weather Gangway Flexibility in lo
Slide 6: Investment highlights
Executive summary Investment highlights THE ONLY NCS CAPABLE JACK-UP USD ~70M FIRM EBITDA BACKLOG USD +50M DIVIDEND CAPACITY ACCOMMODATION VESSEL WITH EQUINOR AND AKERBP(1,2,4) FROM CONTRACT BACKLOG(3) ▪ Unique market position in the harsh ▪ Firm and option periods will keep ▪ Refinancing in Q4’25 r
Slide 7: Haven has a unique market position within offshore accommodation
Executive summary Haven has a unique market position within offshore accommodation Higher operational uptime and savings ▪ Haven stands firmly on the seabed and can operate without being impacted by waves and currents ▪ 100% uptime vs. 85% for semi submersibles, due to reliable gangway connection ▪
Slide 8: Low break-even cost compared to floating vessels
Executive summary Low break-even cost compared to floating vessels NCS cost levels for Haven compared to competitors EBITDA scenarios assuming NCS operation(3) USDk/day Low Base High -21% 78.3 Dayrate USDk/day 150,000 185,000 250,000 SG&A 10.8(1) Opex “ (53,000) (53,000) (53,000) 61.6 SG&A(2) “ (8,6
Slide 9: Investment highlights
Executive summary Investment highlights THE ONLY NCS CAPABLE JACK-UP USD ~70M FIRM EBITDA BACKLOG USD +50M DIVIDEND CAPACITY ACCOMMODATION VESSEL WITH EQUINOR AND AKERBP(1,2,4) FROM CONTRACT BACKLOG(3) ▪ Unique market position in the harsh ▪ Firm and option periods will keep ▪ Refinancing in Q4’25 r
Slide 10: Providing accommodation to critical infrastructure in the North Sea
Executive summary Providing accommodation to critical infrastructure in the North Sea Backlog overview and contract details 2025 2026 2027 2028 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Draupner, Norway Valhall, Norway Draupner Project Valhall Project Counterparty Equinor Aker BP Location Draupner, Nor
Slide 11: Significant EBITDA backlog
Executive summary Significant EBITDA backlog USD ~70m in firm EBITDA backlog(1,2) Comments USDm ▪ Firm EBITDA backlog of USD ~70m and USD ~90m including options per Q4-25(2) Firm Option ▪ Haven is currently on contract with Equinor ending mid 27 May 2026 ▪ 15-month firm contract with AkerBP with cur
Slide 12: Investment highlights
Executive summary Investment highlights THE ONLY NCS CAPABLE JACK-UP USD ~70M FIRM EBITDA BACKLOG USD +50M DIVIDEND CAPACITY ACCOMMODATION VESSEL WITH EQUINOR AND AKERBP(1,2,4) FROM CONTRACT BACKLOG(3) ▪ Unique market position in the harsh ▪ Firm and option periods will keep ▪ Refinancing in Q4’25 r
Slide 13: Dividend friendly and long-term debt structure
Executive summary Dividend friendly and long-term debt structure Amortization profile Comments USDm ▪ Jacktel refinanced its old debt facility in Q4 2025 Scheduled amortization Bullet ▪ New facility reduced amortization and 40 enabled increased dividend distribution capacity ▪ Jacktel will amortize
Slide 14: USD +50 million dividend distribution capacity
Executive summary USD +50 million dividend distribution capacity Illustrative levered free cash flow Comments USDm ▪ Approximately NOK 1.6 per share cash flow to equity is expected from firm contracts with Equinor and AkerBP(1) 18 61 ▪ An extra NOK ~0.7 per share could be realized NOK 0.7/share NOK
Slide 15: Investment highlights
Executive summary Investment highlights THE ONLY NCS CAPABLE JACK-UP USD ~70M FIRM EBITDA BACKLOG USD +50M DIVIDEND CAPACITY ACCOMMODATION VESSEL WITH EQUINOR AND AKERBP(1,2,4) FROM CONTRACT BACKLOG(3) 1 Firm EBITDA forecast assume declared options. If no options is declared, the Company sees a pote
Slide 16: Table of content
Table of content EXECUTIVE SUMMARY MARKET FINANCIALS APPENDIX March 16, 2026 | 16
Slide 17: Market outlook per Q4-25
Market Market outlook per Q4-25 ▪ Jacktel is in a good position with contract backlog, including options, into 2028 ▪ The contract extension with Equinor was an important milestone to further strengthen the backlog and close the gap prior to start up of the Aker BP contract ▪ Jacktel is optimistic r
Slide 18: One of five units able to provide accommodation services on the NCS
Market One of five units able to provide accommodation services on the NCS Global supply of 23 high-end accommodation units Comments # active accommodation units able to operate per region ▪ Market for high-end offshore accommodation is small, with only 27 active units operating globally Jack-ups (i
Slide 19: Limited supply of NCS capable accommodation units
Market Limited supply of NCS capable accommodation units Harsh environment accommodation vessel availability Commentary CONTRACTED Firm DEMAND Option 2025 2026 2027 2028 ▪ Low vessel availability for competing supply of accommodation units Name Owner Build year Hull NCS/UKCS DP POB Location Q3 Q4 Q1
Slide 20: Offshore wind moving farther from shore will be a future demand driver
Market Offshore wind moving farther from shore will be a future demand driver Offshore wind projects by completion year and distance to shore(1) Commentary X-axis: Project completion year – Y-axis: Distance from shore (km) ▪ Increased share of offshore wind installations are being installed further
Slide 21: Increasing accommodation needs in offshore wind
Market Increasing accommodation needs in offshore wind Europe’s installed wind infrastructure are aging… …and more units will support long-term demand Accumulative # of installed units, Europe Accumulative # of planned unit installations, Europe Turbines Substations +79% +117% > 4,300 installed turb
Slide 22: The market is seeing improving rates
Market The market is seeing improving rates Global dayrate development Dayrate in USDk/day observed at time of contract signing NCS North America UK Far East Brazil Haven USDk/day 450 400 Haven 350 Equinor 300 Haven 250 ConocoPhillips Haven Aker BP 200 Haven 150 Equinor 100 Haven Maersk Haven Total
Slide 23: Table of content
Table of content EXECUTIVE SUMMARY MARKET FINANCIALS APPENDIX March 16, 2026 | 23
Slide 24: Historical financials
Financials Historical financials USDm Revenue EBITDA 141.6 108.3 90.2 79.9 78.0 70.4 69.2 70.0 64.1 65.5 64.1 60.1 51.7 39.7 35.9 32.6 28.0 17.4 19.8 15.6 12.4 13.0 8.9 1.0 0.0 -2.8 -8.5 -6.9 ’12 ’13 ’14 ’15 ’16 ’17 ’18 ’19 ’20 ’21 ’22 ’23 ’24 ’25 un-audited ConocoPhilips & MaerskOil contract Yard u
Slide 25: Table of content
Table of content EXECUTIVE SUMMARY MARKET FINANCIALS APPENDIX March 16, 2026 | 25
Slide 26: Company history
Appendix Company history 2011 2014 2015 2018 2019 2020 2021 2022 2023 2024 2025 Q3-2011 Q3-2014 Q3-2015 Q2-2018 Q2-2019 Q1-2021 Q1-2022 Q1-2023 Q3-2024 Q3-2025 Delivery of Haven and JACKT01 bond issue of Completion of Commenced contract Announcement of merger Signed contract with Jacktel is restruct
Slide 27: Haven has close to 100% uptime since delivery
Appendix Haven has close to 100% uptime since delivery Consistently delivering top performance to blue-chip clients in Norway and Denmark Year 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Ekofisk fields, Norway @ €208k/day Firm Options Paid stand-by Dan fields
Slide 28: Macro Offshore Management – Commercial and technical manager
Appendix Macro Offshore Management – Commercial and technical manager About Macro Offshore Management Management Team Bjørn Henriksen CEO ▪ More than 25 years of offshore industry experience ▪ Previously held the position as CEO of Prosafe Production, President of Prosafe’s Accommodation Business an
Slide 29: Accommodation jack-ups have a superior emissions profile
Appendix Accommodation jack-ups have a superior emissions profile CO2 emissions per day CO2 emissions per bed Tonnes CO2 emissions per day for various asset types Kg CO2 emissions per bed per day for various asset types 90 240 180 60 Haven Haven 120 30 60 0 0 Haven with onshore Accommodation jack-up
Slide 30: Providing accommodation capacity during offshore project work
Appendix Providing accommodation capacity during offshore project work Established markets New market 1 2 3 Start-up Production End-of-life Hook-up & Commissioning of Maintenance and Decommissioning at end of Offshore wind new fields Modification on existing fields life Present during the installati
Slide 31: Brazilian market expected to consummate significant supply
Appendix Brazilian market expected to consummate significant supply Development in number of floating production units in Brazil Comments # of floating production units installed year end ▪ Haven is unable to operate in Brazil due to water depths exceeding leg length Existing On order Potential ▪ Ho
Slide 32: High capacity harsh-environment jack-up
Appendix High capacity harsh-environment jack-up Vessel specifications Water dept capacity Up to 106 meters Year built 2011 Yard Labroy / Nymo (completion and outfitting) Estimated newbuild cost USD 600m Bed capacity 444 Overall length x width 118m x 50m Free deck area 450m2 Additional deck load cap
Slide 33: Thank you
Thank you March 16, 2026 | 33