Seadrill Ltd

Previous wording

As of March 31, 2025, we owned a total of 15 drilling rigs, of which 11 were operating (inclusive of one leased to the Sonadrill joint venture) and four were stacked. The operating units include ten floaters (comprising seven 7th generation drillships, two 6th generation drillships and one benign environment semi-submersible) and one harsh environment jackup. In addition to our owned assets, as of March 31, 2025, we managed two 7th generation drillships owned by Sonangol EP.

Current wording

As of June 30, 2025, we owned a total of 15 drilling rigs, of which nine were operating, one was undergoing a special periodic survey (the West Gemini, which is leased to the Sonadrill joint venture), one was undergoing repairs and maintenance between contracts, and four were stacked. The operating units include eight floaters (comprising seven 7th generation drillships and one 6th generation drillship) and one harsh environment jackup. In addition to our owned assets, as of June 30, 2025, we managed two 7th generation drillships owned by Sonangol EP.

Previous wording

Recently announced changes and proposed changes to U.S. global trade policy, along with potential international retaliatory measures, have caused high volatility in global markets and uncertainty around short- and long-term economic impacts in the U.S., including concerns over inflation, recession and slowing growth. We continue to evaluate and monitor the potential impacts of these changes and measures, including the imposition of tariffs, on our business and operations; however, it is not possible to predict the impact, if any, of any changes or proposed changes to the U.S. global trade policy, or any international retaliatory measures, on our business and operations.

Current wording

Ongoing and recently proposed changes to U.S. global trade policy, along with potential international retaliatory measures, have continued to cause high volatility in global markets and uncertainty around short- and long-term economic impacts in the U.S., including concerns over inflation, recession and slowing growth. We continue to evaluate and monitor the potential impacts of these changes and measures, including the imposition of tariffs, on our business and operations; however, it is not possible to predict the impact, if any, of any changes or proposed changes to the U.S. global trade policy, or any international retaliatory measures, on our business and operations.

Previous wording

The actual amounts of revenues earned and the actual periods during which revenues are earned will differ from the amounts and periods shown in the tables above due to various factors, including shipyard and maintenance, survey, upgrades and regulatory projects, unplanned downtime and other factors that result in a lower applicable dayrate than the full contractual operating dayrate. Additional factors that could affect the amount and timing of actual revenue to be recognized include customer liquidity issues and contract terminations, which are available to our customers under certain circumstances.

Current wording

The actual amount of revenues earned and the actual periods during which revenues are earned will differ from the amounts and periods shown in the tables above due to various factors, including shipyard and maintenance, surveys, upgrades and regulatory projects, unplanned downtime and other factors that result in a lower applicable dayrate than the full contractual operating dayrate. Additional factors that could affect the amount and timing of actual revenue to be recognized include customer liquidity issues and contract terminations, which are available to our customers under certain circumstances.

Previous wording

The table below shows the average oil price for the three months ended March 31, 2025 and for each of the three preceding years. The Brent oil price as of May 7, 2025 was $61/bbl.

Current wording

The table below shows the average oil price for the six months ended June 30, 2025 andyear ended December 31, 2024. The Brent oil price as of August 1, 2025 was $70/bbl.

Previous wording

The price of Brent oil averaged $76 per barrel during the three months ended March 31, 2025, down from $80 per barrel in 2024. Global growth in the production of oil and slower growth in demand has put downward pressure on prices.

Current wording

The price of Brent oil averaged $70 per barrel during the six months ended June 30, 2025, down from $80 per barrel in 2024. Global growth in the production of oil and slower growth in demand has put downward pressure on prices.

Previous wording

As a result, uncertainty persists in the market in light of concerns over global economic conditions, government trade policies and output increases by the Organization of Petroleum Exporting Countries and other major international producers. This has led to the continued deferral of offshore capital expenditures and contracting of offshore drilling services, and could have a negative impact on future demand for offshore drilling services. In addition, inflationary pressures may impact the cost base in our industry, including personnel costs and the prices of goods and services required to reactivate or operate rigs.

Current wording

Uncertainty persists in the market in light of concerns over global economic conditions, government trade policies and output increases by the Organization of Petroleum Exporting Countries and other major international producers. This has led to the continued deferral of offshore capital expenditures and contracting of offshore drilling services, and could have a negative impact on future demand for offshore drilling services. In addition, inflationary pressures may impact the cost base in our industry, including personnel costs and the prices of goods and services required to reactivate or operate rigs. As anticipated, 2025 is shaping up to be a year marked by softer utilization and a corresponding increase in competition, placing downward pressure on near term dayrates; however, we see signs that point towards a market recovery in late 2026.

Previous wording

The table below shows the global number of rigs on contract and marketed utilization for the three months ended March 31, 2025 and for each of the three preceding years:

Current wording

The table below shows the global number of rigs on contract and marketed utilization for the six months ended June 30, 2025 and year ended December 31, 2024:

Previous wording

We calculate the average number of rigs on contract by dividing the aggregate days our rigs were on contract during the reporting period by the number of days in that reporting period.

Current wording

We calculate the average number of rigs on contract by dividing the aggregate days our rigs (excluding managed rigs) were on contract during the reporting period by the number of days in that reporting period.

Previous wording

The decrease was primarily driven by the West Phoenix being stacked through the first quarter of 2025, along with the West Neptune and West Capella operating for fewer days during the three months ended March 31, 2025 compared to the three months ended March 31, 2024. These impacts were partially offset by the Sevan Louisiana operating for more days during the three months ended March 31, 2025 compared to not operating during the three months ended March 31, 2024 due to its special periodic survey. The West Auriga and West Polaris also commenced work in Brazil in December 2024 and February 2025, respectively, and therefore, were operating for more days during the three months ended March 31, 2025 compared to the three months ended March 31, 2024.

Current wording

The decrease was primarily driven by the Sevan Louisiana operating for fewer days in the second quarter of 2025 compared to the same period in 2024. The West Phoenix and West Capella also did not operate during the three months ended June 30, 2025, compared to being fully contracted during the three months ended June 30, 2024. However, these impacts were partially offset by the West Auriga and West Polaris commencing work in Brazil in December 2024 and February 2025, respectively, and therefore, operating during the three months ended June 30, 2025, in contrast to the three months ended June 30, 2024, during which contract preparation activities were performed.

Previous wording

The average contractual dayrate earned for the three months ended March 31, 2025 was $323 thousand compared to $300 thousand for the three months ended March 31, 2024, resulting in a $26 million increase in contract revenues in the three months ended March 31, 2025 compared to the three months ended March 31, 2024.

Current wording

The average contractual dayrate earned during the three months ended June 30, 2025 was $331 thousand compared to $289 thousand during the three months ended June 30, 2024, resulting in a $28 million increase in contract revenues in the three months ended June 30, 2025 compared to the three months ended June 30, 2024.

Previous wording

The increase was driven by higher dayrates for the West Neptuneand West Vela operating in the U.S. Gulf of America, West Auriga and West Polaris operating in Brazil, and the West Capella operating in Korea during the three months ended March 31, 2025 compared to the three months ended March 31, 2024.

Current wording

The increase was driven by higher dayrates for the West Auriga and West Polaris operating in Brazil and the West Neptune, West Vela and Sevan Louisiana operating in the U.S. Gulf of America during the three months ended June 30, 2025, compared to the three months ended June 30, 2024. These impacts were partially offset by higher-than-average dayrates for the West Phoenix and West Capella during the three months ended June 30, 2024, in contrast to the second quarter of 2025, during which the rigs were not on contract.

Previous wording

The economic utilization for the three months ended March 31, 2025 was 84%, compared to 97% for the three months ended March 31, 2024, resulting in a $22 million decrease in contract revenues in the three months ended March 31, 2025 compared to the three months ended March 31, 2024. The decrease during the first quarter of 2025 was primarily due to unplanned downtime related to regulatory matters impacting the West Tellus, and downtime on the West Polarisand West Auriga .

Current wording

The economic utilization for the three months ended June 30, 2025 was 93%, compared to 94% for the three months ended June 30, 2024, resulting in a $3 million decrease in contract revenues in the three months ended June 30, 2025 compared to the three months ended June 30, 2024. The decrease during the second quarter of 2025 was primarily due to downtime on the West Polarisand West Elara, offset by improved economic utilization on the West Neptuneand West Jupiter compared to the second quarter of 2024.

Previous wording

Leasing revenues for the three months ended March 31, 2025 represent revenue earned on the charter of the West Gemini to Sonadrill, and for the three months ended March 31, 2024, the charter of the West Castor, West Telesto and West Tucanato Gulfdrill prior to their disposal in June 2024.

Current wording

Leasing revenues for the three months ended June 30, 2025 represent revenues earned on the charter of the West Gemini to Sonadrill, and for the three months ended June 30, 2024, also included revenues earned on the charter of the West Castor, West Telesto and West Tucanato Gulfdrill prior to their disposal in June 2024.

Previous wording

Leasing revenues decreased by $3 million in the three months ended March 31, 2025 compared to the three months ended March 31, 2024. The decrease was attributable to the disposal of the Gulfdrill rigs in June 2024, partially offset by a higher bareboat charter rate recognized for the West Gemini during the three months ended March 31, 2025.

Current wording

Leasing revenues decreased by $18 million in the three months ended June 30, 2025 compared to the three months ended June 30, 2024. The decrease was primarily attributable to the disposal of the Gulfdrill rigs in June 2024, along with an increase to the bareboat charter rate for the West Gemini during the three months ended June 30, 2024 retroactively applied to January 1, 2024, which did not recur during the second quarter of 2025.

Previous wording

Vessel and rig operating expenses represent the costs we incur to operate a drilling unit that is either in operation or stacked. This includes the remuneration of offshore crews, rig supplies, expenses for repair and maintenance and onshore support costs. Vessel and rig operating expenses are mainly driven by rig activity. On average, we incur higher vessel and rig operating expenses when a rig is operating compared to when it is stacked. For stacked rigs, we incur higher vessel and rig expenses for warm stacked rigs compared to cold stacked rigs. We incur one-time costs for activities such as preservation and severance when we cold stack a rig. We also incur significant costs when re-activating a rig from cold stack, a proportion of which is expensed as incurred. Where a rig is leased to another operator, the majority of vessel and rig expenses are incurred by the operator.

Current wording

Vessel and rig operating expenses represent the costs we incur to operate a drilling unit that is either in operation or stacked. This includes the remuneration of offshore crews, rig supplies, expenses for repair and maintenance, onshore support costs, and the amortization of deferred mobilization costs. Vessel and rig operating expenses are mainly driven by rig activity. On average, we incur higher vessel and rig operating expenses when a rig is operating compared to when it is stacked. For stacked rigs, we incur higher vessel and rig expenses for warm stacked rigs compared to cold stacked rigs. We incur one-time costs for activities such as preservation and severance when we cold stack a rig. We also incur significant costs when re-activating a rig from cold stack, a proportion of which is expensed as incurred. Where a rig is leased to another operator, the majority of vessel and rig expenses are incurred by the operator.

Previous wording

Vessel and rig operating expenses remained consistent for the three months ended March 31, 2025 compared to the three months ended March 31, 2024. During the three months ended March 31, 2025, there was a $33 million decrease in vessel and rig operating expenses compared to the three months ended March 31, 2024, primarily due to lower managed service agreement fees, as the rigs acquired through the Aquadrill transaction are now managed by Seadrill, rather than by third parties, as well as lower vessel and rig operating expenses related to the West Phoenix, which was stacked through the first quarter of 2025. This was offset by an increase in vessel and rig operating expenses of $32 million during the three months ended March 31, 2025 compared to the three months ended March 31, 2024, primarily related to the West Aurigaand West Polaris commencing operations in Brazil, along with increased repair and maintenance costs across the fleet.

Current wording

Vessel and rig operating expenses increased by $15 million during the three months ended June 30, 2025 compared to the three months ended June 30, 2024. During the three months ended June 30, 2025, there was a $42 million increase in vessel and rig operating expenses compared to the three months ended June 30, 2024, primarily related to the West Aurigaand West Polaris commencing operations in Brazil, of which $13 million related to increased amortization of deferred mobilization costs, along with higher repair and maintenance costs across the fleet. This was partially offset by a $19 million decrease in vessel and rig operating expenses during the three months ended June 30, 2025 related to the West Phoenixand West Capella, which were stacked during the second quarter of 2025, and lower managed service agreement fees of $8 million, as the rigs acquired through the Aquadrill transaction are now managed by Seadrill, rather than by third parties.

Previous wording

Selling, general and administrative expenses include the cost of our corporate and regional offices, certain legal and professional fees as well as the remuneration and other compensation of our officers, directors and employees engaged in central management and administration activities. Selling, general and administrative expense decreased by $2 million during the three months ended March 31, 2025 compared to the three months ended March 31, 2024, primarily due to lower costs attributable to the closure of our London office, offset by higher professional fees.

Current wording

Selling, general and administrative expenses include the cost of our corporate and regional offices, certain legal and professional fees as well as the remuneration and other compensation of our officers, directors and employees engaged in central management and administration activities. Selling, general and administrative expense increased by $2 million during the three months ended June 30, 2025 compared to the three months ended June 30, 2024, primarily due to personnel costs and legal and professional fees, partially offset by lower costs attributable to the closure of our London office.

Previous wording

Interest income relates to interest earned on bank deposits. The $3 million decrease in interest income for the three months ended March 31, 2025 compared to the three months ended March 31, 2024 was primarily attributable to the decrease in cash and cash equivalents.

Current wording

Interest income relates to interest earned on bank deposits. The $4 million decrease in interest income for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 was primarily attributable to lower cash balances.

Previous wording

b) Equity in earnings of equity method investments (net of tax)

Current wording

b) Equity in earnings/(losses) of equity method investments (net of tax)

Previous wording

The income during the three months ended March 31, 2025 and the three months ended March 31, 2024 relates to Seadrill's proportion of profits from Sonadrill.

Current wording

The earnings/(losses) during the three months ended June 30, 2025 and the three months ended June 30, 2024 relates to Seadrill's proportion of earnings/(losses) from Sonadrill.

Previous wording

The $5 million increase in tax expense during the three months ended March 31, 2025 compared to the three months ended March 31, 2024 is primarily due to the recognition, during the three months ended March 31, 2024, of a deferred tax benefit of $8 million attributable to changes in valuation allowances established for Switzerland and Brazil, partially offset by a $3 million charge recognized in the three months ended March 31, 2024, related to the tax effect of import duty credits in Brazil. The increase in tax expense also reflects changes in the Company's mix of pre-tax income among tax jurisdictions.

Current wording

The $26 million increase in tax expense during the three months ended June 30, 2025 compared to the three months ended June 30, 2024 primarily reflects changes in the Company's mix of pre-tax income and loss among tax jurisdictions in addition to the recognition of a tax benefit in 2024, attributable to changes in valuation allowances established for Switzerland and Brazil.

Previous wording

Amortization of deferred mobilization revenues increased by $11 million during the three months ended March 31, 2025, compared to the three months ended March 31, 2024. This was primarily attributable to mobilization fees received on the West Capella, West Polaris and West Auriga, which commenced operations within the last six months.

Current wording

Amortization of deferred mobilization revenues increased by $17 million during the six months ended June 30, 2025, compared to the six months ended June 30, 2024. The increase was primarily attributable to mobilization fees received on the West Capella, West Polaris and West Auriga, which commenced operations within the last nine months.

Previous wording

The decrease of $5 million during the three months ended March 31, 2025 as compared to the three months ended March 31, 2024 was primarily due to additional reimbursable services provided to the Libongos and Quenguela for long-term maintenance during the three months ended March 31, 2024, which did not recur during the three months ended March 31, 2025.

Current wording

The decrease of $4 million during the six months ended June 30, 2025 as compared to the six months ended June 30, 2024 was primarily due to additional reimbursable services provided to the Libongos and Quenguela for long-term maintenance during the six months ended June 30, 2024, which did not recur during the six months ended June 30, 2025.

Previous wording

Management contract revenues include revenues related to contracts where we provide management, operational and technical support services and are comprised of revenues from our joint venture, Sonadrill, relating to the Libongos, Quenguela and the West Gemini.

Current wording

Management contract revenues include revenues related to contracts where we provide management, operational and technical support services and are comprised of revenues from our joint venture, Sonadrill, relating to the Libongos, Quenguela and West Gemini.

Previous wording

Management contract revenues increased by $3 million in the three months ended March 31, 2025 compared to the three months ended March 31, 2024, primarily driven by increased management fees on the three managed rigs.

Current wording

Management contract revenues increased by $3 million in the six months ended June 30, 2025 compared to the six months ended June 30, 2024, primarily driven by higher management fees on the Libongos, Quenguela and the West Gemini.

Previous wording

The $17 million increase in depreciation and amortization for the three months ended March 31, 2025 compared to the three months ended March 31, 2024 is mainly attributable to the capital projects on the West Auriga and West Polarisand unfavorable contracts being fully amortized during 2024.

Current wording

The $30 million increase in depreciation and amortization for the six months ended June 30, 2025 compared to the six months ended June 30, 2024 is mainly attributable to the capital projects on the West Auriga and West Polarisand unfavorable contracts being fully amortized during 2024.

Previous wording

Depreciation increased by $13 million in the three months ended March 31, 2025 compared to the three months ended March 31, 2024, mainly attributable to the capital projects on the West Auriga and West Polaris related to preparations for the recently commenced contracts in Brazil.

Current wording

Depreciation increased by $26 million in the six months ended June 30, 2025 compared to the six months ended June 30, 2024, mainly attributable to the capital projects on the West Auriga and West Polaris related to preparations for the recently commenced contracts in Brazil.

Previous wording

Amortization increased by $4 million during the three months ended March 31, 2025 compared to the three months ended March 31, 2024, mainly attributable to unfavorable contracts being fully amortized during 2024 related to the West Auriga and West Vela.

Current wording

Amortization expense increased by $4 million during the six months ended June 30, 2025 compared to the six months ended June 30, 2024, mainly attributable to unfavorable contracts being fully amortized during 2024 related to the West Auriga and West Vela.

Previous wording

Other operating income of $16 million for the three months ended March 31, 2024 relates to the recovery of historical import duties in the form of tax credits following the approval by the applicable tax authorities, which did not recur in the three months ended March 31, 2025.

Current wording

Other operating income of $16 million for the six months ended June 30, 2024 relates to the recovery of historical import duties in the form of tax credits following the approval by the applicable tax authorities, which did not recur in the six months ended June 30, 2025.

Previous wording

The increase of $4 million in the equity in earnings of equity method investments (net of tax) for the three months ended March 31, 2025 compared to the three months ended March 31, 2024 was primarily attributable to increased operating dayrates on the West Gemini and Quenguela.

Current wording

The increase of $25 million for the six months ended June 30, 2025 compared to the six months ended June 30, 2024 was primarily attributable to higher operating dayrates on the West Gemini and Quenguela.

Previous wording

So long as Seadrill is able to meet its net leverage and liquidity targets on a forward-looking basis, as well as comply with its Revolving Credit Facility covenant requirements, Seadrill would seek to provide a return to our shareholders of at least 50% of Free Cash Flow (defined as cash flows from operating activities minus capital expenditures) in the form of Share repurchases or dividends. Seadrill will consider additional returns to shareholders from the proceeds of any asset sales in the absence of identified, accretive opportunities. Dividends and Share repurchases will be authorized and determined by the Board of Directors in its sole discretion and depend upon a number of factors, including those described above, its future prospects, market trend evaluation and such other factors as the Board of Directors may deem relevant. Please see Item 1A. "Risk Factors - Financial and Tax Risks -We may be unable to meet our capital allocation framework goal of returning at least 50% of Free Cash Flow to shareholders through dividends and share repurchases, which could decrease expected returns on an investment in our Shares" in Part I of our 2024 10-K.

Current wording

So long as Seadrill is able to meet its net leverage and liquidity targets on a forward-looking basis, as well as comply with its Revolving Credit Facility covenant requirements, Seadrill would seek to provide a return to our shareholders of at least 50% of Free Cash Flow (defined as cash flows from operating activities minus additions to drilling units and equipment) in the form of Share repurchases or dividends. Seadrill will consider additional returns to shareholders from the proceeds of any asset sales in the absence of identified, accretive opportunities. Dividends and Share repurchases will be authorized and determined by the Board of Directors in its sole discretion and depend upon a number of factors, including those described above, its future prospects, market trend evaluation and such other factors as the Board of Directors may deem relevant. Please see Item 1A. "Risk Factors - Financial and Tax Risks -We may be unable to meet our capital allocation framework goal of returning at least 50% of Free Cash Flow to shareholders through dividends and share repurchases, which could decrease expected returns on an investment in our Shares" in Part I of our 2024 10-K.

Previous wording

During the second quarter of 2024, the Company's Board of Directors authorized a new $500 million Share repurchase program that will run for a period of two years from June 25, 2024, the date of completion for the programs initiated in 2023 ("Current Repurchase Program"). Under the Current Repurchase Program, the Board authorized the Company to purchase up to $300 million of the Company's Shares in 2024. The Company has repurchased an aggregate of 6,714,252 Shares with a weighted average Share price of $43.52, amounting to $292 million. On September 30, 2024 and December 16, 2024, the Company canceled 4,213,349 and 2,500,903 treasury Shares, respectively, repurchased under this program.

Current wording

During the second quarter of 2024, the Company's Board of Directors authorized a $500 million Share repurchase program that will run for a period of two years from June 25, 2024, the date of completion for the programs initiated in 2023 ("Current Repurchase Program"). Under the Current Repurchase Program, the Board authorized the Company to purchase up to $300 million of the Company's Shares in 2024. Since the Current Repurchase Program commenced, the Company has repurchased an aggregate of 6,714,252 Shares with a weighted average Share price of $43.52, amounting to $292 million. On September 30, 2024 and December 16, 2024, the Company canceled 4,213,349 and 2,500,903 treasury Shares, respectively, repurchased under this program.

Previous wording

During the first quarter of 2025, the Company did not repurchase Shares, and therefore, as of March 31, 2025, $208 million of the $500 million authorized amount remained available under the Current Repurchase Program. During the three months ended March 31, 2024, the Company repurchased 2,626,429 Shares with a weighted average Share price of $45.23, amounting to $119 million. The Company cancelled these treasury Shares, on June 28, 2024.

Current wording

During the three and six months ended June 30, 2025, the Company did not repurchase Shares, and therefore, as of June 30, 2025, $208 million of the $500 million authorized amount remained available under the Current Repurchase Program.

Previous wording

As of March 31, 2025, Seadrill had available liquidity of $629 million, which consisted of unrestricted cash of $404 million and available borrowings under our Revolving Credit Facility of $225 million. Our cash on hand, available borrowings under the Revolving Credit Facility, and contract and other revenues are expected to generate sufficient cash flow to fund our anticipated debt service and working capital requirements for the next 12 months.

Current wording

As of June 30, 2025, Seadrill had available liquidity of $618 million, which consisted of unrestricted cash of $393 million and available borrowings under our Revolving Credit Facility of $225 million. Our cash on hand, available borrowings under the Revolving Credit Facility, and contract and other revenues are expected to generate sufficient cash flow to fund our anticipated debt service and working capital requirements for the next 12 months.

Previous wording

Net cash used in operating activities during the three months ended March 31, 2025 was$27 million compared to net cash provided by operating activities of$29 million for the three months ended March 31, 2024. The$56 million decrease was primarily related to disbursements to suppliers, additions to long-term maintenance projects on the West Neptune, West Vela and West Gemini, along with contract preparation costs incurred for the West Polaris. These were partially offset by increased receipts from customers, including mobilization fees associated with the commencement of the West Polaris'contract in Brazil.

Current wording

Net cash used in operating activities during the six months ended June 30, 2025 was$16 million compared to net cash provided by operating activities of$108 million for the six months ended June 30, 2024. The$124 million decrease was primarily related to decreased operating results, along with increased disbursements to suppliers and additions to long-term maintenance projects on the West Neptune, West Vela, West Geminiand across our fleet operating in Brazil, including contract preparation costs incurred for the West Polaris.

Previous wording

The $49 million cash used in investing activities during thethree months ended March 31, 2025 was primarily related to capital expenditures on the West Neptune, West Elara and West Aurigaand the acquisition of capital spares.

Current wording

The $72 million cash used in investing activities during thesix months ended June 30, 2025 was primarily related to capital expenditures on the West Neptune, West Elara and West Aurigaand the acquisition of capital spares.

Previous wording

The$119 million cash used in financing activities during the three months ended March 31, 2024 was related to Share repurchases.

Current wording

The$241 million cash used in financing activities during the six months ended June 30, 2024 was related to Share repurchases.

Previous wording

An overview of our debt as of March 31, 2025, divided into (i) secured debt and (ii) unsecured senior convertible bond, is presented in the table below:

Current wording

An overview of our debt as of June 30, 2025, divided into (i) secured bond and (ii) unsecured senior convertible bond, is presented in the table below: