Company: HLX
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011655
Chunk: 36

Company: HELIX ENERGY SOLUTIONS GROUP INC
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 36
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 Financial Results Our continued strong operational performance in 2024 was once again reflected in our financial results. Helix continues to generate significant positive Free Cash Flow, 1and the $163 million of Free Cash Flow generated in 2024 represented our highest in two decades. We continued to produce year-over-year improvements in each of Adjusted EBITDA, 1revenue and net income. 2In 2024 our Adjusted EBITDA increased approximately 10% from 2023 to $303 million, our revenue continued its steady growth to $1.36 billion and we realized net income of $56 million as compared to net losses in each of the three prior years. Notably, our results included the payment of the earnout consideration to the seller in the Alliance transaction, without which our Free Cash Flow results would have improved by approximately $58 million.

| 1 | Net Debt, Adjusted EBITDA and Free Cash Flow are non-GAAP financial measures. For a reconciliation of these financial measures to reported net income (loss), cash flows from operating activities and long-term debt, respectively, see “Non-GAAP Financial Measures” on pages 36-37 of our 2024 Annual Report. |

| 2 | Represents net income (loss) attributable to common shareholders. |

| Helix Energy Solutions Group, Inc. |     | 2025 Proxy Statement |     | 35 |

TABLE OF CONTENTS Compensation Discussion and Analysis Five-Year Financial Results ($ in millions) Our stock price closed at $9.32 per share on December 31, 2024 compared to $10.28 on December 31, 2023, $7.38 on December 31, 2022 and $3.12 on December 31, 2021. Notwithstanding the near-term pullback, for the three-year period ended December 31, 2024, our total shareholder return (“TSR”) ranked 3rd out of the 19 members of our 2022 PSU peer group, as shown in the following chart. We define TSR for this three-year period as the average stock price for the 20 trading days prior to December 31, 2024 divided by the average stock price for the 20 trading days prior to January 1, 2022, including dividends paid. Total Shareholder Return 2022-2024 Understanding these metrics helps depict the strong performance and overall financial health of our Company, the prudence with which we navigated recent challenges, and our