| --- | --- | --- | |------------------------------------|-------|-------| | | | | | April 27, 2021 | | | | | | | | First Quarter 2021 Conference Call | | | | | | | FORWARD-LOOKING STATEMENTS 2 This presentation contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are "forward-looking statements" withi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to__________ Commission File Number: 001-32936 HELIX ENERGY SOLUTIONS GROUP, INC. (Exact name of registrant as specified in its charter) Minn ...

Helix Energy Solutions Group, Inc. (NYSE:HLX) Q1 2021 Earnings Conference Call April 27, 2021 10:00 AM ET Company Participants Erik Staffeldt – Chief Financial Officer Ken Neikirk – General Counsel Owen Kratz – Chief Executive Officer Scotty Sparks – Chief Operating Officer Conference Call Participants Ian MacPherson – Piper Sandler & Co. Mike Sabella – Bank of America James Schumm – Cowen and Company Igor Levi – BGIT Research Samantha Hoh – Evervore ISI Operator Greetings and welcome to the Helix Energy S ...

| --- | --- | --- | --- | --- | |----------------------|-------|-------|-------|-------| | | | | | | | Raymond James 42nd | | | | | | Annual Institutional | | | | | | Investor Conference | | | | | | March 3, 2021 | | | | | | | | | | | FORWARD-LOOKING STATEMENTS 2 This presentation contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than ...

Financial Position - As of December 31, 2020, the company reported total assets of $2,498.3 million, a decrease from $2,596.7 million in 2019[265] - The company reported a decrease in total liabilities to $753.9 million in 2020 from $893.7 million in 2019[265] - The carrying value of property and equipment as of December 31, 2020, was $1,783 million[252] - Total property and equipment increased to $2.95 billion in 2020 from $2.92 billion in 2019, with vessels accounting for $2.35 billion[335] - The principal amount of total debt as of December 31, 2020, was $404,732,000, down from $436,146,000 in 2019[433] - Long-term debt decreased to $258.9 million in 2020 from $306.1 million in 2019, with total debt at $349.6 million[343] Cash Flow and Liquidity - The company had $83.3 million of outstanding debt subject to floating rates as of December 31, 2020, with an estimated additional interest expense of $0.9 million if rates increased by 100 basis points[241] - Cash and cash equivalents at the end of 2020 increased to $291.320 million from $262.561 million at the end of 2019, representing an increase of 10.9%[276] - Net cash provided by operating activities was $98.800 million, down 41.7% from $169.669 million in 2019[276] - The company had a net cash used in investing activities of $19.281 million, a decrease from $142.385 million in 2019[276] - The company repaid $183.150 million in convertible senior notes during 2020, compared to no repayments in 2019[276] Revenue and Profitability - Net revenues for 2020 were $733,555, a decrease of 2.4% from $751,909 in 2019[268] - Gross profit for 2020 was $79,909, down 42.0% from $137,838 in 2019[268] - Net income attributable to common shareholders for 2020 was $22,174, a decline of 61.7% compared to $57,919 in 2019[268] - Comprehensive income for 2020 was $33,204, compared to $66,921 in 2019, reflecting a decrease of 50.3%[271] - The company recognized a goodwill impairment of $6,689 in 2020, with no such impairment reported in 2019[268] Segment Performance - Well Intervention segment generated $539.2 million in revenues, down from $593.3 million in 2019, with an operating income of $26.9 million compared to $89.6 million in the previous year[417] - Robotics segment revenues increased to $178.0 million from $171.7 million in 2019, with operating income rising to $13.8 million from $7.3 million[417] - Production Facilities segment reported revenues of $58.3 million, a slight decrease from $61.2 million in 2019, with operating income of $16.0 million compared to $17.2 million[417] Foreign Currency and Hedging - Approximately 40% of the company's net assets were impacted by changes in foreign currencies in relation to the U.S. dollar as of December 31, 2020[243] - The company recorded foreign currency translation gains of $12.8 million in 2020, compared to gains of $5.4 million in 2019[243] - The company engages in cash flow hedges to mitigate market risks associated with interest rates and foreign currency exchange rates, enhancing predictability of cash flows[322] Tax and Regulatory Matters - The company recognized a net tax benefit of $7.6 million in 2020 due to the CARES Act, which included an $18.9 million current tax benefit and an $11.3 million deferred tax expense[377] - Deferred tax liabilities totaled $162.5 million as of December 31, 2020, with net operating losses available for carryforward amounting to $197.4 million[379] - The company had a valuation allowance of $2.9 million against U.S. deferred tax assets for foreign tax credits, indicating uncertainty in utilizing these credits[380] Shareholder and Equity Matters - The company has not repurchased any shares under its stock buyback program since 2015, with 6,913,705 shares available for repurchase as of December 31, 2020[390] - The 2005 Long-Term Incentive Plan currently has 17.3 million shares authorized for issuance, with 6.8 million shares available as of December 31, 2020[402] - The company recognized $4.2 million in share-based compensation related to restricted stock for the year ended December 31, 2020[408] Capital Expenditures - Capital expenditures decreased significantly to $20.244 million from $140.854 million in 2019, reflecting a reduction of 85.6%[276] - The company took delivery of the Q7000 vessel in November 2019, which commenced operations in January 2020, completing all planned major capital commitments[423]

Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 For the transition period from__________ to__________ Commission File Number: 001-32936 HELIX ENERGY SOLUTIONS GROUP, INC. (Exact name of registrant as specified in its charter) Minnesota 95-34096 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to__________ Commission File Number: 001-32936 HELIX ENERGY SOLUTIONS GROUP, INC. (Exact name of registrant as specified in its charter) Minnesota 95-3409686 (F ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to__________ Commission File Number: 001-32936 HELIX ENERGY SOLUTIONS GROUP, INC. (Exact name of registrant as specified in its charter) Minnesota 95-3409686 ( ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to__________ Commission file number 001-32936 HELIX ENERGY SOLUTIONS GROUP, INC. (Exact name of registrant as specified in its charter) Minnesota 95-3409686 State or other jurisdiction of incorporation or organization (I.R.S. Employer Identification No.) 3505 West Sam Houston Parkway North Suite 400 Hous ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to__________ Commission File Number: 001-32936 HELIX ENERGY SOLUTIONS GROUP, INC. (Exact name of registrant as specified in its charter) (State or other ju ...