Press Release

Luxembourg, April 04, 2025

Foresea is proud to announce the release of its 2024 Annual Report, the first full year of operations as a pure-play drilling company. The report presents key information for all Foresea stakeholders, highlighting the year’s results and achievements, as well as the company’s ongoing efforts to remain the pathway for energy in deep waters.

As remarked by Mr. Ibrahim, Foresea’s CEO: “I am proud to deliver another year of solid results, benefiting all our stakeholders. We have been able to perform excellent operational performance, introduce new technologies to our platforms, and adapt and innovate to meet the needs of our customers”.

Click here to access Foresea’s 2024 Annual Report.

About Foresea

Foresea is a leading offshore drilling company, focused on offering intelligent drilling solutions, with expertise and excellence in chartering and operating rigs for ultra-deep waters. Foresea operates a high specification rig fleet of 4 UDW drillships, a semisubmersible and provides operation and management services to third parties’ fleet.

With experience, technology and a commitment to safety and sustainability, Foresea is always innovating when chartering and operating platforms and ships. For further information, please visit: www.investors.foresea.com.

Forward-Looking Statements

This document contains forward-looking financial projections for Foresea Holding. These statements could contain words such as terms “assumes”, “projects”, “forecasts”, “estimates”, “expects”, “anticipates”, “believes”, “plans”, “intends”, “may”, “might”, “will”, “would”, “can”, “could”, “should”, “possible”, “if,” or other similar expressions. Forward-looking statements are based on management’s current expectations and assumptions regarding future economic conditions, market trends, and the execution of our business strategy, including, but not limited to, any statement that may project, indicate or imply performance or achievements; future recovery in the offshore contract drilling industry; expectations regarding the Company’s plans, strategies and opportunities; expectations regarding the Company’s business or financial outlook; future borrowing capacity and liquidity; expected utilization, dayrates, revenues, operating expenses, rig commitments and availability, cash flows, tax rates and accounting treatment, contract status, terms and duration, contract backlog, capital expenditures, insurance, financing and funding. Please be aware that these forward-looking financial projections are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict, and factors beyond our control, which may cause actual results to differ materially from what is projected and should be considered as estimates only.

All subsequent written and oral forward-looking statements attributable to the company or to people acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. The company undertakes no obligation to update or revise these forward-looking financial projections, whether as a result of new information, future events, or otherwise.

Investors and stakeholders are advised to exercise caution and not to place undue reliance on these forward-looking statements. Actual results may vary, and the company assumes no obligation to provide updates or revisions beyond what is legally required.