| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Revenue increase is mainly due to the addition of 3 offshore rigs that started their contract in Q3’23. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profit increased is mainly driven by margin contribution of the additional 3 offshore rigs, mostly offset by higher finance and depreciation cost, as well as additional personnel cost associated with the start-up of our 10 Unconventional land Rigs |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue Decreased due to lower rig move activities in Q1.24 comparing with Q4’23 and one operating day less in February 2024. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Net Profit decreased from the lower revenue, as mentioned, as well as additional Unconventional start-up cost, one-off credits recognized in Q4’23 as well as additional deferred tax expenses recognized in Q1’24. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | Not Applicable Unmodified Report |
| Reclassification of Comparison Items | Not Applicable. No Reclassifications observed. |
| Additional Information | Profit (loss) per share for current quarter 2024 is based on 89,000,000 shares |
| Attached Documents |  |
