ADES Holding Company Finalizes Recent Indonesia Award with the Signing of Related Long-term Drilling Contract with Pertamina Drilling Services Indonesia (“PDSI”) following receiving the letter of award (LOA) last month

Element List	Explanation
Date of Announcement of the Award	2023-11-21 Corresponding to 1445-05-07
Contract Subject Matter	PROVISION OF JACK-UP DRILLING RIG SERVICES PHE OSES & ONWJ
Date of Signing the Contract	2023-12-31 Corresponding to 1445-06-18
Contract Value	SAR 803 million
Contract Details	3 years firm and 2 years optional contract with PDSI in Indonesia for 1 offshore Jackup rig from the existing fleet of the company
Contract Duration	The contract comprises a 3-year firm period and a 2-year option period
Financial Impact and the Relevant Period	Contract value (including the optional tenor) amounting to SAR 803 million is expected to be realized over 5 years from commencement date.

Commencement date is expected to be during the second half of 2024 Related Parties Not Applicable Attached Documents

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