April 23, 2026 First Quarter 2026 Earnings Conference Call .2

Executive Summary

Page 6 © 2026 Helix ESG Financial Results • Net loss of $13 million, $(0.09) per diluted share • Adjusted EBITDA1 of $32 million • Operating cash flows of $62 million • Free Cash Flow1 of $59 million Financial Condition • Cash and cash equivalents of $501 million • Liquidity2 of $612 million • Long-term debt3 of $304 million • Negative Net Debt1 of $198 million Operations • Return to operations and good utilization on the Seawell in the North Sea • Successful workover and recommencement of production of our Thunder Hawk field First Quarter 2026 Highlights 1 Adjusted EBITDA, Free Cash Flow and Net Debt are non-GAAP financial measures; see non-GAAP reconciliations below 2 Revenue percentages net of intercompany eliminations Production Maximization 28% Decommissioning 56% Renewables 13% Other 3% Revenue By Market Strategy2 Quarter Ended March 31, 2026 Adjusted Amounts may not add due to rounding

8 Page 8 © 2026 Helix ESG Well Intervention • Fleet utilization 82% • 91% in the Gulf of America • 47% in the North Sea • 100% in Brazil (including the Sea Helix 1, Siem Helix 2 and Q7000) • 15K IRS idle; 10K IRSs idle; ROAM idle Production Facilities • Helix Producer I operated at full rates • Droshky field produced throughout Q1; Thunder Hawk field shut in prior to workover completed end Q1 Robotics • 381 vessel days (79% utilization) • 122 integrated vessel trenching days • 2,079 work class ROV days • 56% overall ROV and trencher utilization Shallow Water Abandonment • 41% liftboat, offshore supply vessel (OSV) and crewboat combined utilization • 15% diving support vessel (DSV) utilization • Epic Hedron heavy lift barge idle • 369 days, or 16%, combined utilization on plug and abandonment (P&A) and coiled tubing (CT) systems Segment Results ($ in millions, unaudited) Three Months Ended 3/31/26 3/31/25 12/31/25 Revenues Well Intervention 209 $ 198 $ 181 $ Robotics 62 51 87 Shallow Water Abandonment 21 17 58 Production Facilities 19 20 17 Intercompany eliminations (24) (8) (9) Total 288 $ 278 $ 334 $ Gross profit (loss) % Well Intervention 15 $ 7% $ 24 12% $ 16 9% Robotics 11 17% 8 16% 22 25% Shallow Water Abandonment (9) (42%) (12) (69%) 10 18% Production Facilities (7) (40%) 7 38% 3 18% Eliminations and other (1) (1) (1) Total 9 $ 3% $ 28 10% $ 51 15% Utilization Well Intervention vessels 82% 67% 72% Robotics vessels 79% 67% 91% Robotics assets (ROVs and trenchers) 56% 51% 58% Shallow Water Abandonment vessels 35% 30% 54% Shallow Water Abandonment systems 16% 11% 26% Amounts may not add due to rounding First Quarter Utilization

10 Page 10 © 2026 Helix ESG • Grand Canyon II (Asia Pacific) – 81 days (90%) utilized in Q1; performed oil and gas ROV support projects offshore Malaysia and Indonesia; ended Q1 commencing transit to North Sea for long-term trenching contract • Grand Canyon III (North Sea) – 61 days (79%) utilized in Q1; performed renewables trenching and other ROV support and site clearance work for one customer; spent most of February in scheduled regulatory drydock • Shelia Bordelon (Gulf of America/ US East Coast) – 67 days (75%) utilized in Q1; performed oil and gas ROV support work for two customers in Gulf of America and renewables work for another customer on US East Coast • North Sea Enabler (North Sea) – 90 days (100%) utilized in Q1; performed renewables trenching for two customers • Patriot (North Sea/Baltic Sea) – 20 days (26%) utilized in Q1; delivered into fleet mid-January and commenced its first project in March in the Baltic Sea performing both UXO ID and boulder relocation scopes • Trym (North Sea) – 61 days (100%) utilized in Q1; performed renewables UXO ID operations for one customer; off hire for approximately 29 days for repairs • Trenching – 122 integrated vessel trenching days on renewables and oil and gas trenching projects on Grand Canyon III and North Sea Enabler; 90 days stand-alone trenching with the T1400-2 on third-party vessel; T1400-1 idle • Site Clearance – 110 days utilization on three IROV boulder grabs on the Trym, Patriot and Grand Canyon III Robotics 1 Integrated vessel trenching days represents trenching activities utilizing Helix trenchers on Helix-chartered vessels and excludes stand-alone trenching operations on third-party vessels 2 Integrated vessel ROV days represents work-class ROV and IROV site clearance activities on Helix-chartered vessels

Key Financial Metrics and Outlook

Page 14 © 2026 Helix ESG Our 2026 outlook will be affected by, among other things, the utilization and rates in our spot and call-off operations and the extent of winter seasonal activity and the following expected key drivers: Well Intervention • Q4000 – second half 2026 utilization • Q7000 – second half 2026 utilization • Brazil – overall operating efficiency and Sea Helix 1 docking • North Sea – second half 2026 spot market utilization Robotics • Seasonal vessel utilization in the North Sea and Asia Pacific Shallow Water Abandonment • Strength of contracting for oil and gas properties in bankruptcies reverting to former owners • Seasonal utilization and level of competition on the Gulf of America shelf Free Cash Flow • Forecasted variability due to the seasonality of our operations and the timing of collections on our receivables 2026 Forecast ($ in millions) 2026 2025 Outlook Actual Revenues $ 1,200 - 1,400 1,291 $ Adjusted EBITDA1 230 - 290 272 Capital Additions2 70 - 80 70 Free Cash Flow1 100 - 160 120 Revenue Split: Well Intervention $ 695 - 830 729 $ Robotics 305 - 335 323 Shallow Water Abandonment 160 - 190 200 Production Facilities 90 - 95 73 Eliminations (50) (34) Total Revenue $ 1,200 - 1,400 1,291 $ 1 Adjusted EBITDA and Free Cash Flow are non-GAAP financial measures; see non-GAAP reconciliations below 2 Capital Additions include regulatory certification costs for our vessels and systems as well as other capital expenditures Key Financial Metrics Key Forecast Drivers Amounts may not add due to rounding

Page 15 © 2026 Helix ESG • Seasonal activities typically generate stronger performance during Q2 and Q3 and a decline in activity during Q1 and Q4: • Seasonal peaks generally in Q3 and troughs in Q1 • Business units most impacted by seasonality include: • Well Intervention and Robotics in the North Sea • Shallow Water Abandonment • Quarterly activity also influenced by the timing of regulatory dockings and long-term transits and mobilizations Historical Quarterly Revenue & Earnings ($ in millions) 1 Adjusted EBITDA is a non-GAAP financial measure; see non-GAAP reconciliations below $296 $365 $342 $355 $278 $302 $377 $334 $288 $(26) $32 $30 $20 $3 $(3) $22 $8 $(13) $47 $97 $88 $72 $52 $42 $104 $74 $32 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Revenue Net Income Adjusted EBITDA¹

Page 16 © 2026 Helix ESG Well Intervention • Q5000 (Gulf of America) – completed workover of Helix’s Thunder Hawk field in March; expected to have good utilization with contracted work and identified opportunities for remainder of 2026 • Q4000 (Gulf of America) – contracted into Q2; identified opportunities for the remainder of 2026 with schedule gaps expected between contracts • Well Enhancer (North Sea) – contracted decommissioning and production enhancement through Q3 followed by expected North Sea seasonal slowdown in Q4 • Seawell (North Sea) – contracted work well into Q4 followed by expected seasonal slowdown for remainder of year • Q7000 (Brazil) – contracted with Shell Brazil through end of April; identified opportunities in Brazil and West Africa • Sea Helix 1 (Brazil) – Contracted with Petrobras into Q4 2028 • Siem Helix 2 (Brazil) – Contracted with Petrobras into Q1 2028 • IRS rental units (Global) – 15K IRS and 10K IRS rentals available and being marketed globally with identified opportunities in the Gulf of America Shallow Water Abandonment Expect seasonal activity, with higher utilization during Q2 and Q3 and lower utilization in Q1 and Q4 • Liftboats – expect seasonal utilization on up to seven liftboats during 2026 • OSVs – expect seasonal utilization on up to five OSVs during 2026 • P&A Systems – expect seasonal utilization on up to eight P&A systems during 2026 • CT Systems – expect seasonal utilization on up to two CT systems during 2026 • DSVs – expect seasonal utilization on all three diving vessels during 2026 • Epic Hedron – vessel available in Q2 and expected good seasonal utilization during 2026 Robotics • Grand Canyon II (Asia Pacific/North Sea) – transiting to North Sea for long-term trenching contract expected to commence in 2027 • Grand Canyon III (North Sea) – expected to be nearly fully utilized in 2026 on trenching projects • Shelia Bordelon (U.S.) – performing renewables operations on US East Coast expected through April 2026 with identified subsequent opportunities on US East Coast and in the Gulf of America; vessel charter expires end of Q2 2026 if not extended • North Sea Enabler (North Sea) – under flexible charter during first half 2026 with two-year charter extension commencing July; expected to be nearly fully utilized in 2026 on trenching projects for both renewables and oil and gas customers • Trym (North Sea) – expected to perform UXO identification and other renewables site preparation and site clearance work with high utilization expected in 2026 • Patriot (North Sea/Baltic Sea) – expected to continue its Baltic Sea UXO ID and Boulder removal project into Q4 2026 • Trenchers (Global) – six trenchers with good utilization expected on four integrated vessel trencher spreads in the North Sea and one trencher working on third-party vessel in the Mediterranean • ROVs (Global) – expect stronger ROV utilization in 2026 over 2025 Production Facilities • Helix Producer I – under contract throughout 2026 • Thunder Hawk – wells recommenced production in April with production expected through remainder of 2026 • Droshky – ongoing production expected to decline throughout 2026 2026 Segments Outlook

Page 17 © 2026 Helix ESG 2026 Capital additions1 are forecasted at approximately $70 – $80 million: • Capital additions during Q1 included approximately $10 million for regulatory certifications costs for our vessels and systems, which are reported in operating cash flows, and approximately $2 million for capital expenditures • Capital additions during the remainder of 2026 are expected to be: • Approximately $30 – $35 million for regulatory certification costs for our vessels and systems, reported in operating cash flows • Approximately $28 – $33 million for capital expenditures, reported in investing cash flows Free Cash Flow2 • Free Cash Flow outlook includes approximately $70 – $80 million of capital spending, $30 million of gross cash interest expense, and cash income taxes expected between $20 – $30 million • Working capital expected to be impacted by seasonality and timing of collections from customers Balance Sheet • No significant debt maturities until 2029 Capital Additions, Cash Flow and Balance Sheet 1 Capital additions represents accrued capital additions; total cash capital spending was approximately $9 million for regulatory certifications cost and $3 million for capital expenditures during Q1 2 Free Cash Flow is a non-GAAP financial measure; see non-GAAP reconciliations below

Non-GAAP Reconciliations

Page 19 © 2026 Helix ESG Non-GAAP Reconciliations Year Ended ($ in thousands, unaudited) 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 12/31/25 Reconciliation from Net Income (Loss) to Adjusted EBITDA: Net income (loss) (26,287) $ 32,289 $ 29,514 $ 20,121 $ 3,072 $ (2,598) $ 22,083 $ 8,270 $ (13,406) $ $30,827 Adjustments: Income tax provision (benefit) (1,698) 14,725 9,520 3,880 453 (5,997) 19,169 (1,972) (3,152) 11,653 Net interest expense 5,477 5,891 5,689 5,572 5,706 5,875 5,616 5,580 5,229 22,777 Depreciation and amortization 46,353 43,471 42,904 40,564 42,482 45,389 55,661 43,850 43,864 187,382 Other (income) expense, net 2,216 382 49 1,275 357 (437) 983 487 (298) 1,390 (Gain) loss on disposition of assets 150 - (100) 429 - - - - - - Long-lived asset impairment - - - - - - - 18,064 - 18,064 Losses related to convertible senior notes 20,922 - - - - - - - - - General provision for (release of) current expected credit losses (143) 137 45 (200) (85) 198 159 (408) 25 (136) Adjusted EBITDA $ 96,895 46,990 $ 87,621 $ 71,641 $ 51,985 $ 42,430 $ 103,671 $ 73,871 $ 32,262 $ 271,957 $ Free Cash Flow: Cash flows from operating activities 64,484 $ (12,164) $ 55,731 $ 77,977 $ 16,442 $ (17,133) $ 24,277 $ 113,163 $ 61,786 $ 136,749 $ Less: Capital expenditures, net of proceeds from asset sales and insurance recoveries (3,242) (3,989) (3,086) (12,523) (4,488) (4,470) (1,688) (5,696) (2,811) (16,342) Free Cash Flow $ (16,153) 61,242 $ 52,645 $ 65,454 $ 11,954 $ (21,603) $ 22,589 $ 107,467 $ 58,975 $ 120,407 $ Net Debt: Long-term debt including current maturities of long-term debt 318,164 $ 318,629 $ 314,673 $ 315,157 $ 311,109 $ 311,612 $ 307,472 $ 307,995 $ 303,761 $ 307,995 $ Less: Cash and cash equivalents and restricted cash (323,849) (275,066) (324,120) (368,030) (369,987) (319,743) (338,033) (445,196) (501,272) (445,196) Net Debt $ 43,563 (5,685) $ (9,447) $ (52,873) $ (58,878) $ (8,131) $ (30,561) $ (137,201) $ (197,511) $ (137,201) $ Three Months Ended

Page 20 © 2026 Helix ESG Non-GAAP Financial Measures We define Adjusted EBITDA as earnings before income taxes, net interest expense, depreciation and amortization expense, net other income or expense, gains or losses on disposition of assets, long-lived asset impairment losses, acquisition and integration costs, gains or losses related to convertible senior notes, the change in fair value of contingent consideration and the general provision for (release of) current expected credit losses, if any. We define Free Cash Flow as cash flows from operating activities less capital expenditures, net of proceeds from asset sales and insurance recoveries (related to property and equipment), if any. Net debt is calculated as long-term debt including current maturities of long-term debt less cash and cash equivalents and restricted cash. We use Adjusted EBITDA, Free Cash Flow and Net Debt to monitor and facilitate internal evaluation of the performance of our business operations, to facilitate external comparison of our business results to those of others in our industry, to analyze and evaluate financial and strategic planning decisions regarding future investments and acquisitions, to plan and evaluate operating budgets, and in certain cases, to report our results to the holders of our debt as required by our debt covenants. We believe that our measures of Adjusted EBITDA, Free Cash Flow and Net Debt provide useful information to the public regarding our operating performance and ability to service debt and fund capital expenditures and may help our investors understand and compare our results to other companies that have different financing, capital and tax structures. Other companies may calculate their measures of Adjusted EBITDA, Free Cash Flow and Net Debt differently from the way we do, which may limit their usefulness as comparative measures. Adjusted EBITDA, Free Cash Flow and Net Debt should not be considered in isolation or as a substitute for, but instead are supplemental to, income from operations, net income, cash flows from operating activities, or other income or cash flow data prepared in accordance with GAAP. Users of this financial information should consider the types of events and transactions that are excluded from these measures. See reconciliation of the non-GAAP financial information presented in this press release to the most directly comparable financial information presented in accordance with GAAP. We have not provided reconciliations of forward-looking non-GAAP financial measures to comparable GAAP measures due to the challenges and impracticability with estimating some of the items without unreasonable effort, which amounts could be significant. Non-GAAP Reconciliations

21 Page 21 © 2026 Helix ESG