Hunting : AGM Presentation 2024

John (Jay) Glick	Jim Johnson	Bruce Ferguson
Non-executive Company Chair	Chief Executive	Finance Director

Chair of Nomination Committee

and Ethics and Sustainability Committee

Margaret Amos	Annell Bay	Stuart M. Brightman	Carol Chesney	Paula Harris	Keith Lough
Non-executive Director	Non-executive Director	Non-executive Director	Non-executive Director	Non-executive Director	Senior Independent
	Chair of Remuneration Committee	Company Chair Designate	Chair of Audit Committee		Non-executive Director

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Welcome	Introduction & Q1 2024 Trading Update
	Jay Glick, Non-executive Company Chair
	Chief Executive Review of 2023
	Jim Johnson, Chief Executive
	Questions & Answers
	Business of AGM
	Jay Glick, Non-executive Company Chair
	Proxy Votes Received
	Close

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• Positive start to 2024, with EBITDA of c.$28.9m (Q1 2023 - c.$22.4m). EBITDA margin 12% - in line with full year guidance.
• Sales order book $544.0m (Q1 2023 - $492.9m) - OCTG tender activity remains buoyant, particularly in the Middle East.
• Subsea and international market activity continues to strengthen - US onshore market still subdued.
• OCTG and Subsea product groups trading ahead of management's expectations.
• Advanced Manufacturing reporting a positive Q1 in line with management's expectations, with a good mix of energy and non-oil and gas sales.
• Total cash and bank at quarter end of c.$(33.6)m (Q1 2023 - c.$(59.8)m).
• 2024 EBITDA guidance of $125-135m remains unchanged.
• Management still anticipates EBITDA to FCF conversion of 50% for the full year.
• Year-endtotal cash and bank of c.$30.0m still targeted.

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Strong earnings growth

*Results for the year, as reported under IFRS, adjusted for certain items as determined by management.

103.0

52.0

3.1

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9

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