Seabird Explorat — Annual Report 2026

Apr 30, 2026

Energy Holdings: Annual report 2025

Energy Holdings: Annual report 2025

Nicosia, Cyprus -- April 30, 2026 -- SED Energy Holdings Plc ("Energy

Holdings") today publishes its annual report for the financial year ended 31

December 2025, concluding a transformational first year for Energy Holdings

following the business combination between SeaBird Exploration and Energy

Drilling completed on 26 May 2025.

2025 highlights:

* Strong financial results driven by solid operational execution and high

fleet utilization at improved day rates.

* Total shareholder distributions of USD 82.5 million, representing

approximately 20% of pro forma market capitalization at the time of the

merger announcement in February 2025.

* Strong balance sheet with industry-leading leverage of 0.4x LTM Adjusted

EBITDA at year-end.

* Revenue backlog of USD 466 million and full fleet utilization at year-end.

"2025 was a transformative year for Energy Holdings. We have established a

fully operational platform with strong earnings visibility and a clear

framework for continued value creation. We closed the year with all assets

operational, a strong balance sheet, and a business positioned to deliver

resilient and predictable cash flows. Moving forward, we remain confident in

our strategy, our teams, and our ability to continue delivering on our

commitments," said Kurt M. Waldeland, CEO.

Annual report 2025

The annual report 2025, including the corporate governance report, is enclosed

to this release in pdf and in European Single Electronic Format (ESEF), and

available on the company's website:

www.energyholdings.cy/investors/financial-reports/.

For more information, please contact:

Investor Relations: ir@energyholdings.cy

Press: contact@energyholdings.cy

About SED Energy Holdings Plc

SED Energy Holdings Plc (ticker code "ENH") is a strong industrial partner

with a diversified portfolio of resilient, cash-generative assets supported by

a robust revenue backlog and a conservative capital structure. Energy

Holdings' primary focus is on distributing all excess liquidity to

shareholders, while also pursuing disciplined, value-accretive growth. For

more information, please visit www.energyholdings.cy

(http://www.energyholdings.cy/).

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act.