Ventura Offshore Holding

Earnings Release • Nov 28, 2025

Ventura Offshore Holding Ltd.: Third Quarter 2025 Results

Ventura Offshore Holding Ltd.: Third Quarter 2025 Results

November 28, 2025 - Ventura Offshore Holding Ltd. (the "Company") announces

results for the third quarter of 2025. The results highlights will be

discussed in an audio conference call on Friday, November 28, 2025 at 14:00

CET. Dial-in details for the conference call can be found below.

Highlights

* Operational uptime of 95.6% and financial uptime of 91.9% in 3Q25 for the

combined fleet of owned and managed rigs

* Our customer Eni declared the second of the four optional wells in Indonesia

for SSV Catarina

* Net Income of $22.3 million for the quarter

* Adjusted EBITDA of $19.7 million for the quarter

* Free cash position of $35.5 million after repaying $9.5 million on the RCF

during the quarter

Guilherme Coelho, Chief Executive Officer commented:

"We were very pleased to report the exercise of the second optional well by

our customer Eni for the SSV Catarina, which reflects the top-tier performance

of the unit and further increases our firm backlog by approximately $10

million. Another highlight was the delivery of solid operational performance

to our customers during this quarter. Ventura Offshore remains firmly focused

on securing additional backlog and believes to be well positioned to capture

current and future opportunities."

Link to conference call:

https://teams.microsoft.com/l/meetup-join/19%3ameeting_YTRjNzI1ZmItMjNkNy00Y2NkLThlZWItMTQ0MDM5MDk1MmRk%40thread.v2/0?context=%7B%22Tid%22%3A%224cbfea0a-b872-47f0-b51c-1c64953c3f0b%22%2C%22Oid%22%3A%229dd306f2-be12-4fa5-b89a-0e445936890c%22%2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&btype=a&role=a

For further queries, please contact:

Guilherme Coelho

Chief Executive Officer

+55 21 99311 1167

guilherme.coelho@ventura-offshore.com

This information is subject to disclosure under the Norwegian Securities

Trading Act, §5-12. The information was submitted for publication, through the

agency of the contact persons set out above, at 2025-11-28 07:00 CET.

About Ventura Offshore Holding Ltd.

Ventura Offshore Holding Ltd. is a deep water drilling contractor providing

deep water offshore drilling services to the oil and gas industry. The

Company's core activities are focused in the Brazilian offshore oil and gas

market. The Company owns and operates one drillship, DS Carolina, and two

semisubmersible drilling rigs, SSV Victoria and SSV Catarina, and manages one

drillship, DS Zonda. The Company is incorporated under the laws of Bermuda.

Additional information about Ventura Offshore Holding can be found at

https://ventura-offshore.com/en/a-ventura/.

Forward-looking statements

This press release and the attached reports may include "forward-looking

statements". These statements can be identified by the use of forward-looking

terminology, including the terms "assumes," "believes," "estimates,"

"anticipates," "probability," "risk," "target," "goal," "objective,"

"expects," "intends," "projects," "plans," "may," "will" or "should" or, in

each case, their negative or other variations or comparable terminology. These

forward-looking statements include all matters that are not historical facts.

They include statements regarding the intentions, beliefs, or current

expectations of the Company concerning, among other things, the Company's

results of operations, financial condition, liquidity, prospects, growth,

strategies, and the industry in which it operates, and include any business

plan information included in this report. Any forward-looking statements which

the Company makes in the report speak only as of the date of such statement.

These statements are not guarantees of future performance and involve certain

risks, uncertainties, and assumptions that could cause actual results to

differ materially from those in the forward-looking statements. As a result,

you should be cautious in placing any reliance on such statements and make

your own judgment as to the likelihood of such statements materializing in the

future and the reasonableness of any underlying assumptions. The Company does

not intend, and undertakes no obligation, to revise the forward-looking

statements included in this report to reflect any future events or

circumstances.

The Company has included non-US GAAP financial measures in the reports. These

financial measures may not be comparable to those of other companies.

Reference to these non-GAAP financial measures should be considered in

addition to US-GAAP financial measures, but should not be considered a

substitute for results that are presented in accordance with US GAAP.

This press release and the attached presentation do not constitute an offering

of securities or otherwise constitute an invitation or inducement to any

person to underwrite, subscribe for or otherwise acquire securities in the

Company. The release, publication or distribution of this press release in

certain jurisdictions may be restricted by law, and therefore persons in such

jurisdictions into which this press release is released, published or

distributed should inform themselves about, and observe, such restrictions.

An investment in the Company involves risk, and several factors could cause

the actual results, performance or achievements of the Company to be

materially different from any future results, performance or achievements that

may be expressed or implied by statements and information in this press

release and the attached presentation, including, among others, the risk

factors described in the Company's recent information document. An investment

in the Company is only suitable for investors who understand the risk factors

associated with this type of investment and who can afford to a loss of all or

part of their investment.