ADES Holding confirms no changes to the activity of its current fleet to date that might have an impact on its financial performance

Element List	Explanation
Announcement Detail	ADES Holding Company (“ADES”, the “Group” or the “Company”), a world leading oil and gas drilling services provider, confirms that, to date, there have been no changes or updates concerning the activity of ADES’ current fleet that might have an impact on its financial performance, and the Group will announce in case of any material developments on that front.

More importantly, management remains confident in the Group’s growth prospects on account of its strong global platform, with a leading presence in the GCC and MENA regions and a growing footprint in Southeast Asia. Additionally, the offshore jack-up market remains tight, with significant high level of utilization. This, combined with the Group’s expansive fleet of jack-up rigs, provides ADES with significant optionality and competitiveness that underpins a multi-year growth cycle in the industry. Attached Documents

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.