Update on the situation in the GCC

Gulf Marine Services ("GMS" or the "Company"), a leading provider of self-propelled, self-elevating support vessels ("SESVs") to the offshore energy industry, is pleased to confirm that all vessels temporarily evacuated from one of the countries in the Gulf due to the prevailing geopolitical situation have now successfully returned to hire on the same contracts.

The Company is maintaining its adjusted EBITDA guidance for 2026 in the range of USD 105 million to USD 115 million but continues to assess the final financial impact of this disruption through ongoing discussions with its clients. A further update will be provided in due course.

Mansour Al Alami, Executive Chairman of GMS, commented:

"We are very pleased to confirm that the fourth and final evacuated vessel has now returned to hire. This is a significant milestone, and we are encouraged by the positive momentum we are seeing both operationally and on the geopolitical front. The swift and safe return of all four vessels is a testament to the professionalism of our crews and the strength of our client relationships, which have remained robust throughout this period.

Looking ahead, we remain confident in the underlying performance of the business and are maintaining our adjusted EBITDA guidance for 2026 in the range of USD 105 million to USD 115 million. We believe GMS is well-positioned to capitalise on the strong demand environment across the Gulf, and we look forward to updating the market further in due course."