Eneti Inc.

Hello and welcome to the Anetti Inc. Fourth Quarter 2022 Conference Call. I would like to turn the call over to James Doyle, Head of Corporate Development in IR. Please go ahead, sir.

Thank you for joining us today. Welcome to the Anetti Fourth 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 CJEX. Earlier today, we issued our fourth quarter earnings press release, which is available on our website, annettiyank.com. The information discussed on this call is based on information as of today, February 9th, 2023, 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 in 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 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 inediyank.com on the investor relations page under reports and presentation. 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.

Emanuele Loro Thank you, James. And welcome everybody to our fourth quarter and full year 2022 results. In the fourth quarter, the company generated around $46.5 million of revenue and around $12 million of net income, which is a significant year-over-year improvement. 2022 was a profitable year for Anetti. We generated around $200 million of revenue and more than $100 million in net income. This includes a realized gain on the divestiture of the STNG investments. It was also a productive year. We confirmed our thesis. Significant demand for offshore wind and constraints in the WTIB supply create tremendous potential for increasing day rates, cash flows, and returns in this space. In December, we've announced the initial employment contract on our first new building vessel a leading day rate in our industry and One we we feel reflects the tightening market For our assets that we are experiencing We are in discussion to secure the initial employment contract for our second new building which will deliver in 2025 and at the same time we continue to build our backlog and even on our smaller assets with the three NG2500s, which are experiencing an increase in both utilization as well as day rates. Our balance sheet is in a much stronger position than it was at the beginning of a year ago. In 2022, we completed the restructuring of the CJEX balance sheet with a new loan facility, which reduced the company's overall leverage as well as its borrowing costs. Through strong cash flow from our existing asset base and the sale of our investment in STMG, we have maintained a healthy liquidity position. And today with 130 million in cash and a conservative leverage, we feel well positioned to capture the opportunities that 2023 will present to us. We are now focusing on closing our previously announced underwritten proposal for a $436 million loan facility to finance up to 65% of the purchase cost of our new building assets at Daewoo. At the same time, as mentioned a minute ago, we're looking at securing initial employment on our second new building. And once these two milestones will be achieved, I expect the company to start looking at the next opportunities and focus on further development. Much of the progress we are making today has yet to be realized, but it will greatly benefit the company in the coming years. We remain and are excited to capitalize on these opportunities, the good news ahead, and our role in the transition to a cleaner and more sustainable future. Thanks for your time. My opening remarks are over, and I will now turn the call to Sebastian and James, which will walk us through the slides material. Sebastian or James?