 J.P. Morgan 2015 Global High Yield & Leveraged Finance Conference Miami, Florida February 24, 2015 Vantage Drilling Company Exhibit 99.1 |
 Forward-Looking Statements Some of the statements in this presentation constitute forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward looking statements contained in this presentation involve risks and uncertainties as well as statements as to: • our limited operating history; • availability of investment opportunities; • general volatility of the market price of our securities; • changes in our business strategy; • our ability to consummate an appropriate investment opportunity within given time constraints; • availability of qualified personnel; • changes in our industry, interest rates, the debt securities markets or the general economy; • changes in governmental, tax and environmental regulations and similar matters; • changes in generally accepted accounting principles by standard-setting bodies; and • the degree and nature of our competition. The forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to us or are within our control. If a change occurs, our business, financial condition, liquidity and results of operations may vary materially from those expressed in our forward-looking statements. |
 Vantage Drilling Company Overview |
 Company Overview Vantage Offices 4 Jackups 3 Drillships, plus 1 under Construction NYSE VTG Market $127 Million Book Value $541 Million Enterprise $2.8 Billion Employees >1,300 Cap Value |
 Conditions Have Significantly Depressed Corporate Debt and Equity Reality Perception • The market for offshore rig services (even modern, efficient rigs) is severely depressed and it is believed that a recovery to more normal conditions will take several years. • Vantage has a fleet comprised of all modern, efficient rigs and is currently fully contracted. The three UDW drillships have about 9 years of combined backlog with the first contract expiration to occur at year end 2015. • Backlog of $2.5 billion is equivalent to 3.5x run rate revenues vs. debt of $2.7 billion and assets of $3.5 billion • Market value of debt is only about $1.8 billion – reflecting high risk • Market value of equity is less than 25% of book value • In the last 5 quarters, Vantage has retired approximately $250 million of debt. 2015 EBITDA should be similar to that of 2014 and provide further free cash flow for debt reduction. • 2016/2017 recontracting risk makes debt retirement highly risky. • Debt profile is reasonable with limited maturities and puts until late 2017 • $2.2 billion (of $2.7 billion total) debt matures in 2019 or later • Is market recovery necessary before late 2017? |
 Vantage Drilling Strategic Focus |
 Strategic Overview Experienced People Financial Structure Long Term Customer Relationships High Specification Assets Vantage was founded with a vision of bringing the best people together with the highest specification, modern fleet in the offshore drilling industry. With exceptional operating performance and a focus on service, we have built an excellent portfolio of customers who have provided us with significant backlog and repeat business. We believe our strategy provides the best opportunity to weather a prolonged market downturn. |
 Our People • Industry leading safety record – Lost time incident rate in 2013 and 2012 were .32 and .00, respectively, as we completed approximately 2.5 million and 2.2 million man-hours • Jack-up fleet has achieved approximately 99% productive time over the first 60 months of operations. Each jack-up construction project was completed on-time and on budget • Our exceptional operating experience and technical expertise has resulted in additional business opportunities as Vantage has been selected to manage 3 rd party shipyard projects and rig operations Our senior management team averages over 30 years of Industry experience The cornerstones of our corporate culture are safety and professionalism |
 Vantage Drilling High Specification Assets |
 High Specification Assets Cobalt Explorer, a 7 th generation, dual-activity UDW drillship equipped with (2) seven-ram BOP’s and 10,000 feet of riser, will be our most technically advanced drillship Jackup fleet has achieved approximately 99% productive time for the first 60 months of operations We have built a fleet of new, premium assets that our customers demand now and for the future. High-specification drillships combined with deep in-house operations and technical teams, have been the key to awards to Vantage of high-profile, complex, ultra- deepwater projects |
 Fleet Status Customer backlog of approximately $2.5 Billion provides visibility to cash flows Notes (2) The average drilling revenue per day for the Titanium Explorer includes the achievement of the 12.5% bonus opportunity. (1) Average drilling revenue per day is based on the total estimated revenue divided by the minimum number of days committed in a contract. Unless otherwise noted, the total estimated revenue includes mobilization and demobilization fees and other contractual revenues associated with the drilling services. Ownership 2013 2014 2015 Rig % Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Jackups Emerald Driller 100% $130,000 $156,000 (2 years) Sapphire Driller 100% $120,000 $165,000 (net) $183,000 (18 months) $140,000 (6 months) Aquamarine Driller 100% $153,000 $155,000 Topaz Driller 100% $155,000 $155,000 $152,500 (1 well) $155,000 Drillships Platinum Explorer 100% $590,000 (5 years) Titanium Explorer (2) 100% $585,000 (8 years) Tungsten Explorer 100% 5 wells (175 days) 60 days $641,000 (2 years firm) Cobalt Explorer 100% Contracted Option Letter of Award; Commisioning / Construction Contract subject to conditions Mobilization |
 Strong Customer Backlog 4% IOC 17% NOC 79% $2.5 Billion of backlog with strong customer base: We have focused our marketing efforts on customers with long-term drilling requirements with the opportunity for long-term contracts |
 Market Conditions • Deliveries of newbuild rigs have saturated the marketplace and are negatively impacting pricing. • Because of ready availability of rigs (from added supply), customers are not contracting rigs as far in advance as they had previously. • The “collapse” in oil prices has led to drastic capital spending reductions for offshore drilling (15-30%) • Numerous older and lower-specification rigs have recently been stacked and are not being actively marketed. Many of these will likely never return to service. For the first time in years, rigs are actually being scrapped. Considerations – • By the end of 2016, How many rigs will have been cold stacked or scrapped? Even with new rig deliveries, will the global fleet of remaining workable rigs be at the level of 2010/2011? How soon and how much will Petrobras demand be a major factor? What will be the price of oil? Perennial growth in oil consumption, coupled with a double-digit reduction in E&P spending will produce higher oil prices. The recovery may be much faster than generally expected from initial uptick in rig demand.. |
 Significant Growth Achieved $- $200.0 $400.0 $600.0 $800.0 2009 2010 2011 2012 2013 $111.50 $278.4 $485.8 $471.5 $732.1 Revenue $- $75.0 $150.0 $225.0 $300.0 $18.4 $46.9 $110.2 $146.6 $256.9 Income from Operations $- $75.0 $150.0 $225.0 $300.0 $375.0 2009 2010 2011 2012 2013 $30.2 $81.8 $176.0 $216.0 $363.5 Adjusted EBITDA Emerald Driller Sapphire Driller Aquamarine Driller Topaz Driller Platinum Explorer Titanium Explorer Tungsten Explorer December 2008 July 2009 September 2009 December 2009 November 2010 April 2012 July 2013 2009 2010 2011 2012 2013 |
 Debt Maturities and Leverage • No significant debt maturities until 2017 • Cash flow from operations projected to cover all debt service through 2018 • Increased leverage over last 2 years has been to fund deployment of Titanium Explorer and Tungsten Explorer • As current fleet is all working, leverage will rapidly decline 2011 2012 2013 Long-term Debt $1,246.4 $ 2,710.6 $ 2,852.1 Long-term Debt / Long-term EBITDA 7.1 x 12.6 x 7.8 x Long-term Debt / 4 th QTR EBITDA (annualized) 5.5 x $- $200.0 $400.0 $600.0 $800.0 $1,000.0 $1,200.0 $1,400.0 $1,600.0 Debt Maturities |