Pareto High Yield Daily-06/24/2026

Research evidence excerpt

Pareto High Yield Daily-06/24/2026

ing continued USD/NOKEUR/NOK 11,169,83 0,10,1 %% 0,40,6 %% -0,2-0,6 %% -0,3-0,6 %%

confidence in regional demand, which is positive for the overall SEK/NOK 1,01 0,0 % 0,0 % -0,1 % -0,1 %

jackup market Oil price, Brent

ii) Last time Ades went to acquire rigs (Shelf, 2025), tendering activity USD/bbl

in the Middle East picked up (Borr shares +100% since then) 140

• In other news, Saudi Aramco have just updated drilling contractors with 120

suspended rigs that it will be looking to bring them back to work. Arabian

Drilling, ADES and EDC have rigs suspended

• Post-transaction, Saipem retains one jack-up (Perro Negro 4) and five floaters 80

(3x drillships, 2x semis) 60

• Link to press release 40

Wallenius Wilhelmsen – Extends contract with major auto -

manufacturer Jan-21 Sep-21 May-22 Jan-23 Sep-23 May-24 Jan-25 Sep-25 May-26

• Wallenius Wilhelmsen has secured an early three-year extension with a major iTraxx crossover

European auto manufacturer, running from mid-2028 to mid-2031, with an bps

estimated extension value of USD 420m, in addition to the remaining initial 750

contract value of USD 180m

• The agreement includes the use of low-emission fuels, supporting efforts on 650

both sides to reduce CO2 emissions over time 550

• WAWI will look to expand the partnership, including a potential logistics scope 450

over time

• Link to press release 350

Jan-21 Sep-21 May-22 Jan-23 Sep-23 May-24 Jan-25 Sep-25 May-26

Analysts:

Daniel Rosén

+46 70 935 07 69, daniel.duerosen@paretosec.com

Adam André

+46 79 006 75 35, adam.andre@paretosec.com

Borge Skurtveit

, borge.skurtveit@paretosec.com

For disclosures on relevant definitions, methods, risks, potential conflicts of interests etc. and disclaimers please see www.paretosec.com.