Vantage Drilling Company 2014 Johnson Rice Energy Conference New Orleans, Louisiana October 1, 2014
Company Overview NYSE VTG Market Cap 519 Million Book Value 567 Million Enterprise Value 3.4 Billion Employees 1,300 Vantage Offices 4 Jackups 3 Drillships, plus 1 under Construction
Highlights . . . Repaid 57 million of debt in Q2 and 30 million in Q1; on target for approximately 50 million reduction per quarter for the balance of 2014 Ultra-Deepwater Fleet fully contracted through 2015 Ultra-Deepwater…
Strategic Overview Vantage was founded with a vision of bringing the best people together with the highest specification, modern fleet in Experienced the offshore drilling industry. People High With exceptional operating…
Our People Industry leading safety record Lost time incident rate in 2013 and 2012 were .32 and Our senior management team .00, respectively, as we completed averages over 30 years of approximately 2.5 million and 2.2 million…
High Specification Assets High-specification drillships combined with deep in-house We have built a fleet of new, premium assets operations and technical teams, have been the key to that our customers demand now and for the awards to…
Market Conditions Near Term Deliveries of newbuild rigs have saturated the marketplace and are negatively impacting pricing. Because of ready availability of rigs (from added supply), customers are not contracting rigs as far in…
Market Conditions Longer Term Global demand for oil & gas continues growth Continued Growth Cycle driven by emerging economies with long-term forecast for increase E&P spending. Success in deepwater and ultra-deepwater…
Strong Customer Backlog We have focused our marketing efforts on 2.8 Billion of backlog with customers with long-term drilling requirements strong customer base: with the opportunity for long-term contracts 4% IOC 17% NOC 79%
Fleet Status Customer backlog of approximately 2.8 Billion provides visibility to cash flows
Significant Growth Achieved Revenue Income from Adjusted EBITDA Operations 363.5 800.0 732.1 375.0 300.0 256.9 600.0 300.0 ( in millions) ( in millions) 485.8 471.5 216.0 ( in millions) 225.0 146.6 225.0 176.0…
Progress on Financial Targets Long Term Contracts provide visibility to cash flow to support our leverage reduction objectives Strong projected EBITDA and Earnings Are 1H 2014, with our 7 operational assets all Contracted working,…
Return on Capital Employed 2013 Return on Capital Employed* 14% Strong operational performance from our 12% first 7 rigs, now fully 11% deployed, will lead to 10% industry leading Return 8% 8% on Capital Employed (ROCE) 6% 4%…
Debt Maturities and Leverage Debt Maturities 1,600.0 No significant debt maturities until 2017 1,400.0 Cash flow from operations 1,200.0 projected to cover all debt service through 2018 1,000.0 ( in millions) Increased…
Appendix Historical Financial
Statement of Operations Net income and cash flow from operations is increasing significantly for Vantage as the Tungsten Explorer commenced operations in September 2013. ng R SHARE
Balance Sheet The Debt to EBITDA leverage will continue to reduce as Vantage realizes full year operations for its completed fleet and executes on debt retirement plans. uity
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