ADES Secures One-Year Contract for its Standard Jackup Rig Main Pass IV in Nigeria

Element List	Explanation
Date of Announcement of the Award	2026-05-13 Corresponding to 1447-11-26
Contract Subject Matter	Contract For Offshore Drilling Services
The Entity with Which the Contract was Signed	Belbop Nigeria Limited
Date of Signing the Contract	2026-05-13 Corresponding to 1447-11-26
Contract Value	The total backlog for the firm term is estimated at approximately SAR 180.7 million, equivalent to USD 48.2 million.
Contract Details	ADES Holding Co. announces that it has secured a new contract for its Main Pass IV standard jack-up rig in Nigeria.

This award further reinforces ADES’ ability to secure attractive contracts for its fleet across key markets, supporting backlog visibility and continued utilization across the Group’s global platform. It also reflects the continued strength of demand for offshore jack-up capacity amid a structurally tight market environment. Contract Duration The contract has a one-year firm term, with an additional one-year unpriced option. Financial Impact and the Relevant Period The rig has recently concluded its previous work in the region and is currently undergoing contract preparation. Operations under the new contract are expected to commence in the third quarter of 2026. Related Parties N/A Attached Documents

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