Climate Change Data

Environmental Metrics

ESG Focus Areas

• Safety
• Climate Change
• Emissions Reduction
• Human Rights
• Diversity & Inclusion

Environmental Achievements

• Improved CDP Climate Change Rating from C to B-
• Increased scope of emissions data capture (Scope 1, 2, and 3)
• Target to reduce average daily per rig Scope 1 emissions by 4% in Q4 2022 compared to the 2021 average.
• Ambition of reducing 2021 average daily per rig Scope 1 emissions by 20% over the next 5 years
• Low CO2 intensity due to shallow water drilling and location in the Middle East

Social Achievements

• TRIR of 0.16 in 2021 (best safety performance in company history)
• 88% national content across the fleet (as of 31 December 2021)
• 25% female representation (shore-based and corporate employees)
• 44 nationalities among employees
• Launched Sustainability Report 2019 & Webpage

Governance Achievements

• Zero tolerance for corruption policy
• Grade A- ESG100 Rating (The Governance Group)
• Completed TCFD review and integrated TCFD risks into Enterprise Risk Management System (ERM)
• Board consists of five directors, of whom two are independent board members
• All related party transactions are entered into on arm's length terms, confirmed annually by an independent third party or approved by independent directors

Climate Goals & Targets

Environmental Challenges

• Climate change risks (mapped in accordance with TCFD recommendations)

Mitigation Strategies

• Integrated TCFD risks into Enterprise Risk Management System (ERM)
• Setting science-based emissions reduction targets for 2022+
• Increased scope of emissions data capture
• Power Management Plan & Fuel Consumption
• Waste Management

Supply Chain Management

Climate-Related Risks & Opportunities

Opportunities

• Growth in asset retirement business

Reporting Standards

Frameworks Used: TCFD

Environmental Metrics

ESG Focus Areas

• Climate & Environment
• Health & Safety
• People & Society
• Responsible Business Conduct

Environmental Achievements

• ~60,000 Tonnes CO2e Prevented through Circularity
• Emissions Tracking Pilots completed on engine and emissions monitoring
• Fuel Additives Pilot launched for one rig
• Ambition to lower Scope 1 emissions intensity by 20% over 5 years

Social Achievements

• 0.12 TRIR Total Recordable Incident Rate, lowest in Company’s history
• 29 Rigs Had Zero Recordable Incidents throughout the Year (Including SDB)
• ~91,000+ Hours of Safety Training performed
• 89% National workforce on our rigs
• 32% Women across our offices (excluding Corporate)
• Make it Safer Today (MIST) to complement existing robust HSE policies and procedures
• Mental Health First Aid Program (MHFA) and Employee Assistance Program (EAP) focusing on employee wellbeing

Governance Achievements

• Progress towards CSRD compliance (completed double materiality assessment & gap analysis) and align with ESRS reporting structure
• Norwegian Transparency Act Statement Outlining the results of 2022 Human Rights Saliency Assessment
• Zero Tolerance for Corruption, Bribery and Money Laundering
• 3,100+ Employees trained in recertification of the Code of Business Conduct & Ethics

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: CSRD, ESRS

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed