Eneti Inc.

Good day and welcome to the Anetti Incorporated Second Quarter 2022 Conference Call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touchtone phone. And to withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Mr. James Doyle, Head of Corporate Development and Investor Relations. Please go ahead, sir.

James Doyle Thank you for joining us today. Welcome to the Anetti, Inc. Second Quarter 2022 Earnings Conference Call. On the call with me are Emanuele Loro, Chief Executive Officer, Robert Bugbee, President, Cameron Mackey, Chief Operating Officer, Hugh Baker, Chief Financial Officer, Sebastian Brooke, Chief Operating Officer of CJACS. Earlier today, we issued our second quarter earnings press release, which is available on our website, annettiinc.com. The information discussed on this call is based on information as of today, August 3, 2022, and may contain forward-looking statements that involve risk and uncertainty. Actual results and events may differ materially from those set forth in such statements. For discussion of these risks and uncertainties, you should review the forward-looking statement disclosure and the earnings press release issued today, as well as Annette Inc.' 's SEC filings, which are available at annetteinc.com and sec.gov. Call participants are advised that the audio of this conference call is being broadcast live on the Internet, and it is also being recorded for playback purposes. An archive of the webcast will be made available on the Investor Relations page of our website for approximately 14 days. We will be giving a short presentation today. The presentation is available at annettink.com on the Investor Relations page under Reports and Presentations. The slides will also be available on the webcast. After the presentation, we will go to Q&A. Now I'd like to introduce our Chief Executive Officer, Emanuele Loro.

Thank you James and good morning and afternoon to everyone. Welcome to Enetti's second quarter 2022 results and the first profitable result as a wind turbine installation vessel company. Since November, we've increased our contracted backlog by almost 170 million. This is for 2022 and 2023. In the second quarter, the company generated 61 million of revenue and in excess of 24 of net income. This number excludes an additional 28 million quarterly unrealized gain in our investment in Scorpio tankers. With the fleet fully contracted in the second and third quarter, the cash flow generation from these contracts further strengthens a conservatively levered balance sheet. In addition, this excludes the value and potential sale of non-core assets, which include the NG2500 vessels. As far as our new buildings are concerned, the construction in Korea is proceeding according to plan. In addition, we have received proposals from several financial institutions about financing both new building vessels. including a fully underwritten proposal, which leads us to believe that we will secure attractive terms aligned and comparable with our existing facilities. High global energy prices illustrate the risk of consistent underinvestment in energy. Renewable energy is critical to creating energy security and reducing global emissions. We expect the offshore wind markets to expand to new markets and to accelerate, leaving us well positioned to capitalize on contracting our existing assets, which are of high specifications and they're currently being built in Korea. We are excited about the outlook for offshore wind and our role in the transition to a cleaner and more sustainable future. I will now let Sebastian and James go through a brief presentation. Sebastian?