Civeo (CVEO) Investor Presentation

Financial Performance & Valuation - Civeo's Fully Diluted Equity Value is $376 million and Enterprise Value is $598 million[4] - Civeo reported revenues of $154.2 million in 2Q21, a 23% increase from 1Q21[26, 27] - Adjusted EBITDA for 2Q21 was $32.2 million, a 99% increase from 1Q21[26, 27] - Civeo generated $13.7 million of free cash flow in 2Q21[26] - Civeo reduced total debt outstanding by $11.3 million in 2Q21[26] - Civeo decreased leverage ratio to 2.0x at June 30, 2021[7, 26] Business Operations & Market Exposure - North America accounted for 55% and Australia 45% of Civeo's LTM revenue[4, 14] - North America accounted for 51% and Australia 49% of Civeo's Adjusted EBITDA[4] - Less than 40% of Civeo's LTM gross profit is tied to oil activity[6, 13, 38]