Contents Highlights 4Q 2009 4Q 2009 accounts Operational status and performance Fleet contract status Market outlook Dividend policy Strategy Summary 3
Highlights fourth quarter 2009 EBITDA of US486 million compared to US497 million in the preceding quarter Net income of US401 million or income per share of US0.95 Jack-up rig West Atlas declared a total loss resulting in US58…
EBITDA development US MILLION Contribution quarter to quarter 5
Mobile units 6
Tender rigs 7
Condensed income statement 8
Balance sheet Total assets 9
Balance sheet Liability and equity 10
Worldwide operations 1 drillship newbuild at Samsung, Korea Norway - 5 units - 3 Semis 2 semi new- - 1 Jack-up builds at Jurong, - 1 Drillship Singapore GoM - 1 unit 2+1 jack-up & 1 semi-tender - 1 Semi newbuilds in…
Average utilization rate deepwater newbuilds Start-up experience transferred to sister rigs 12
Ultra-deepwater drillship West Navigator 10-year survey New top-drive New iron roughneck Recertified pipe-handling equipment Thruster replaced Steel replacement Survey completed in 21 days 13
Deepwater market outlook Long-term market drivers intact as global oil basins mature and decline rates steepening Historical dayrates for ultra-deepwater rigs 700 Exploration for larger reserves taking 600 place in more…
9 more newbuilds that secures growth Deepwater floaters - Drillship West Gemini 2Q2010 - Semi West Orion 2Q2010 - Semi West Capricorn 4Q2011 Tender rigs - Tender barge T12 1Q2010 (delivered) - Semi-tender West Vencedor 1Q2010…
Dividend distribution and policy Dividend resolved at US0.55 per share Increase reflects improved earnings visibility and more favorable debt markets related to financing of our operations Future dividend depends on: Debt…
Strategy Complete US listing process in March/April 2010 Ambition to grow fleet of premium assets Focus on quality operations Maintain financial leverage Distribution of cash dividends Develop current shareholdings…
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