Helix Energy Solutions Group, Inc. · NYSE:HLX
Helix Energy Solutions — Raymond James 38th Annual Institutional Investors Conference 2017
28 slides from Helix Energy Solutions's conference presentation, Mar 3, 2017
Slide 1: Raymond James Annual Institutional Investors Conference
HELIX ENERGY SOLUTIONS. Raymond James 38* Annual Institutional Investors Conference March 6, 2017 Navigating the present, focusing on the future.
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains ioenta teats statements that anole risks, uncertainties and assumptions th thet ue _ our results to dif implied by suc statements of historical act, are Torwar Hooking statements: wat em meaning of the "priae Secure | iiboton fm Act of 1995, tnt
Slide 3: Who We Are
Who We Are Helix is a specialty deepwater service provider to the offshore energy industry, focusing on expanding our : subsea infrastructure services - ee in Well Intervention and Robotics. focusing on the future
Slide 4: Deepwater Subsea Services
Deepwater Subsea Services Well Intervention Entering a wellbore to initiate, enhance, restore or decommission production as part of the well's natural life cycle. Robotics Providing remotely operated vehicles (ROVs) to perform deepwater service tasks beyond the reach of dive crews. Why focus on thes
Slide 5: Well Intervention
Well Intervention focusing on the future
Slide 6: Well Intervention Overview
Well Intervention Overview ee
Slide 7: Well Intervention Current Asset Base
Well Intervention Current Asset Base
Slide 8: Under Construction Intervention Riser Systems; Siem Helix 2
7000 - Under Construction Intervention Riser Systems? Siem Helix 2 (chartered estimated inservice late 2017) SuBSEA SERVICES ALLIANCE Helix | Schlumberger Includes the industry's fst purpose-built 15k system and 18%4" riseress system 8 focusing on the future
Slide 9: Subsea Services Alliance
Subsea Services Alliance Oe HELIX + Vessels-experienced crews + Intervention systems + WROV services for well operations ovo Comer SuBSEA SERVICES ALLIANCE + Tooling and interface solutions Helix | Schlumberger * Tooling and interface management = Subsea equipment solutions Schlumberger = Well inter
Slide 10: Robotics
Robotics
Slide 11: Robotics Assets: Workclass ROVs, Trenchers, ROVDrills
Robotics Assets 52 Workclass ROVs 5 Trenchers The backbone of the fleet, The key to pipeline installation capable of performing a broad in heavily trafficked waters array of subsea construction and well intervention tasks 2 ROVDrills Provide seabed composition mining operations focusing on the futur
Slide 12: Chartered Vessel Fleet
Chartered Vessel Fleet e Currently three vessels active under long-term charter Grand Canyon III scheduled to enter the fleet in May 2017 Spot vessels have historically been added and subtracted to the chartered vessel fleet as market demand requires Grand Canyon I, It & It Deep Cygnus focusing on t
Slide 13: What Sets Helix Apart in Robotics
What Sets Helix Apart in Robotics €5 Oil & Gas Renewable Energy Subsea Mining Specialty Services e Helix charters its ROV support vessels, ensuring a modern fleet that can expand and contract based on regional requirements and market conditions A fleet of advanced vehicles, including several units c
Slide 14: Production Facilities
Production Facilities
Slide 15: Production Facilities
Production Facilities Helix Producer | FPU (100%) ¢ Location: Phoenix Field (GOM) ig e Production handling contract recently extended through June 2023 Helix Fast Response System © Retained fee contract to provide GOM spill response services, includes Q4000, Helix Producer | and well containment sys
Slide 16: Key Financial Metrics
Key Financial Metrics
Slide 17: Debt & Liquidity Profile
Debt & Liquidity Profile+ $1,996 in mii $2,000 (Sin millions) $1,200 $1,773 » ° e $1,500 ‘ ; ™ $1338 $1,338 $1138 ‘ . 06; $1,002 % : 8 $1,000 + = ; - $749 $626 ss2 Bi ss6s ssa gs37 $500 $300 255 _ s76 se . $0 MMELT Debt mmmNet Debt -@-Liquidity Liquidity of approximately $376 million at 12/31/2016 c
Slide 18: Proforma Debt & Liquidity Profile
Proforma? Debt & Liquidity Profile? eS ane $1,200 ($ in millions) r $1,500 ¥ y. $900 $1,338 $1,338 $1,138 52,067 $1,002 a i $600 $749 $626 $592 Asses $554 g537 | | $300 255 is76 ise1 50 $0 Debt? $1,000 $500 MELT Debt mMMNet Debt —@- Liquidity Proforma? Liquidity of approximately $595 million at 12/3
Slide 19: Debt Instrument Profile
Debt Instrument Profile Total funded debt! of $657 million at end of Q4 2016 Debt Instrument Profile at 12/31/2016 ¢ $60 million Convertible Senior Notes due 2032 ~ 3.25%? Principal Payment Sehedule @ $125 million Convertible Senior Notes due 2022 - 4.25% $400 7 @ $192 million Term Loan - LIBOR + 4.
Slide 20: Navigating the present,
——— SS = VS = = —— Navigating the present, focusing on the future
Slide 21: 2017 Outlook: Forecast
2017 Outlook: Forecast (Sinmilions) 2017 2016 Outlook Actual REVENUES ~575 488 EBITDA’ ~ 120-140 90 CAPEX ~ 200 189 Revenue Split: Well Intervention $ 390 $ 294 Robotics 150 161 Production Facilities 65 72 Elimination '30) (39) Total ~575 488 Key forecast assumptions: > Siem Helix 1 start-up in late
Slide 22: Total backlog of approximately $1.9 billion; vessel outlook
¢ Total backlog as of December 31, 2016 was approximately $1.9 billion The Q4000 has high utilization forecasted for 2017; vessel estimated to be out of service for approximately 45 days, starting late first quarter, to carry out ABS regulatory dry dock; the estimated 45 day dry dock could vary sign
Slide 23: 2017 Outlook: Robotics
2017 Outlook: Robotics e Utilization for our Robotics fleet will be challenging in 2017, much like 2016 © Seasonal factors will continue to significantly impact utilization during the winter months; expected improvement in utilization from late spring through late fall of 2017 © Chartered vessel fle
Slide 24: 2017 Outlook: Capital Expenditures
2017 Outlook: Capital Expenditures < 2017 Capital Expenditures? is currently forecasted at approximately $200 million, consisting of the following: ¢ Growth Capex - $185 million in growth capital, primarily for newbuilds currently underway, including: © $90 million for Q7000 o $75 million for Siem H
Slide 25: 2017 Outlook
2017 Outlook Balance Sheet @ In Q1 2017 we received net proceeds of approximately $220 million associated with the public offering of approximately 26.5 million shares of our common stock; proceeds will be used for general corporate purposes, which may include debt repayment Our total funded debt le
Slide 26: Non-GAAP Reconciliation
Non-GAAP Reconciliation Navigating the present, focusing on the future
Slide 27: Non-GAAP Reconciliation
Non-GAAP Reconciliation ($n millions) Net loss Adjustment Qe Loss on repurchase of long-term debt Other income, net Depreciation and amortization Goodwill impairment Non-cash loss on equity investment EBITDA Adjustments: Gain on disposition of asset, net Adjusted EBITDA ‘Twelve Months Ended 12/81/20
Slide 28: Helix Energy Solutions
HELIX ENERGY SOLUTIONS. HLX Listed NYSE® Follow Helix on Twitter - @Helix_ESG www.linkedin.com/company/helix-energy- solutions-group Navigating the present, focusing on the future