HORNBECK OFFSHORE SERVICES, INC.

This Quarterly Report on Form 10-Q (the "Quarterly Report") may contain “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Certain capitalized terms included herein are defined in the accompanying notes to the condensed consolidated financial statements, management's discussion and analysis, or the glossary of terms included in this Quarterly Report.

Forward-looking statements involve known and unknown risks, uncertainties and other important factors, many of which are beyond our control, including, but not limited to:

•risks related to potential litigation relating to the Merger, including the effects of any outcomes related thereto; the ability of the Company to retain and hire key personnel, to retain customers or maintain relationships with the Company’s suppliers and customers; the diversion of management’s time and attention from ordinary course of business operations to the integration of the businesses of Legacy Helix and Legacy Hornbeck and the ability to achieve the anticipated synergies and value-creation contemplated by the Merger; potential adverse reactions or changes to business relationships resulting from the completion of the Merger; legislative, regulatory and economic developments; and potential business uncertainty, including changes to existing business relationships, following the completion of the Merger that could affect the Company’s financial performance as well as unforeseen liabilities, future capital expenditures, revenue, expenses, earnings, losses, synergies, economic performance, indebtedness, financial condition, future prospects, business and management strategies, expansion and growth of the Company’s businesses;

•actions by customers, suppliers and partners;

•the impact of current and future laws and regulations by governments and regulatory authorities and how they will be interpreted or enforced, including related to alternative energy development, and fossil fuel exploration, production and decommissioning;

•changes in decisions and capital spending by customers in the energy industry and the industry expectations for offshore exploration, field development and production across our various markets;

•the inability to offset charter-hire for vessels that we in-charter with revenue from services we provide with such vessels;

•changes in market conditions and competitive dynamics in the offshore energy industry;

•demand for services;

•uncertainty of global financial market conditions and potential constraints in accessing capital or credit if and when needed with favorable terms, if at all;

•the impact of tariff regimes by the United States and other countries;

•unplanned customer suspensions, cancellations, rate reductions or non-renewals of vessel charters or vessel management contracts, or failures to finalize commitments to charter or manage vessels;

•the performance of contracts by suppliers, customers and partners;

•the impact of our ability to secure and realize backlog, including any modification of our work or contracts by our customers;

•the ability to effectively bid, renew and perform our contracts, including the impact of equipment problems or failure;

•operating hazards and delays, which includes delays in delivery, chartering or customer acceptance of assets or terms of their acceptance;

•complexities of global political and economic developments;

•the impact of general economic conditions, including inflation, on economic activity and on the Company’s operations;

•geologic risks, and the general volatility of oil and natural gas prices and cyclicality of the oil and gas industry;

•the repeal, waiver, suspension or administrative weakening of the Jones Act or adverse changes in the interpretation of the Jones Act;

•the emergence of new cabotage restrictions that impact our ability to operate in other foreign jurisdictions;

•the effectiveness and timing of our vessel and/or system upgrades, regulatory certification and inspection as well as major maintenance items;

•industry over-supply resulting from reactivating currently-stacked vessels or from constructing new vessels;

•the inability to accurately predict vessel utilization levels and dayrates;

•the effect of adverse weather conditions and/or other risks associated with marine operations;

•vessel accidents, pollution incidents or other events resulting in lost revenue, fines, penalties or other expenses that are unrecoverable from insurance policies or other third parties;

•changing customer demands for vessel specifications, which may make some of our older vessels technologically obsolete for certain customer projects or in certain markets;

•the results of corporate initiatives such as alliances, investments, partnerships, joint ventures, mergers, acquisitions, divestitures and restructurings, and any amounts payable in connection therewith, or the determination not to pursue or effect such initiatives;

•inflation, interest rate, foreign exchange and macroeconomic volatility;

•the effects of our indebtedness, our ability to comply with debt covenants and our ability to reduce capital commitments;

•the impact of our stock price on our financing activities;

•adverse outcomes in pending or future legal or administrative proceedings, and any unexpected litigation and insurance expenses;

•supply-chain constraints and availability and cost of equipment, vessels and labor;

•health, safety, environmental and other regulations and compliance costs;

•the effectiveness of our risk management activities and processes, including with respect to cybersecurity risks and disclosures;

•risks associated with foreign operations, such as non-compliance with, the unanticipated effect of, or unexpected assessments/enforcement actions taken in connection with, tax laws, customs laws, immigration laws, importation laws or other legislation that result in higher than anticipated tax rates or other costs, especially in higher political risk countries where we operate;

•political risks in countries outside of the United States, including unlawful detentions, arrests, confiscation or nationalization of our vessels;

•the potential effects of regional tensions that have escalated or may escalate, including into conflicts or wars, and their impact on the global economy, the oil and gas market, our operations, international trade, or our ability to do business with certain parties or in certain regions, and any governmental sanctions resulting therefrom;

•lower than planned utilization or dayrates for services utilizing in-chartered vessels;

•delays or cost over-runs for vessels under construction and/or vessels undergoing planned conversions or modifications;

•unplanned downtime for vessels and systems;

•other financial, operational and legal risks and uncertainties described from time to time in the Company’s filings with the SEC; and

•such other factors as discussed in "Item 1A. Risk Factors" in Legacy Helix's Annual Report on Form 10-K for the year ended December 31, 2025, Quarterly Report on Form 10-Q for the period ended March 31, 2026 and Quarterly Report on Form 10-Q for the period ended June 30, 2026, and under the heading "Risk Factors" in the Registration Statement on Form S-4 (File No. 333-296508) filed with the SEC on June 4, 2026, as amended on July 13, 2026 and on July 30, 2026 (the "Form S-4"), and the risks and uncertainties discussed in any subsequent reports that we file or furnish with the SEC.

All forward-looking statements in this Quarterly Report are made as of the date on its cover page. Except as may be required by applicable law, we undertake no obligation to publicly update any forward-looking statement whether as a result of new information, future developments or otherwise.