ADES signs multi-year contract for Shelf Drilling Enterprise in Thailand, strengthening backlog visibility and supporting continued market leadership in Southeast Asia

Element List	Explanation
Date of Announcement of the Award	2026-04-22 Corresponding to 1447-11-05
Contract Subject Matter	Contract For Offshore Drilling Services
The Entity with Which the Contract was Signed	Valeura Energy, a subsidiary of Valeura Energy Inc.
Date of Signing the Contract	2026-04-22 Corresponding to 1447-11-05
Contract Value	The total contract value for the firm period only is approximately SAR 345 million (USD 92 million), excluding mobilization and demobilization.
Contract Details	ADES Holding Co. announce that it has secured a contract award from Valeura Energy, a subsidiary of Valeura Energy Inc, for the provision of offshore drilling services in Thailand.

This award marks the beginning of ADES’ relationship with Valeura Energy and further reinforces the Group’s strong position in Thailand, where it continues to maintain market leadership. The contract also reflects ADES’ strategy of optimizing fleet allocation, preserving utilization, and expanding its presence across attractive offshore markets in Southeast Asia. Contract Duration The contract term comprises three-year firm, with a one-year unpriced optional extension. Financial Impact and the Relevant Period Operations are expected to commence in Q4 2026 after it finishes its current campaign in the region. Related Parties N/A Attached Documents

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