The Seabed Board of Directors took note of the information about the Company's preliminary operating results for 2021, the projected investment program and budget (financial plan) for 2023–2024, and the outcomes of the cost optimization (reduction) measure taken by the Seabed Group in 2021.

Seabed Board of Directors approves investment program and budget for 2022

As per the investment program for 2022, the number of investments to be used will total USD 1,757.687 billion, including USD 1,427.229 billion planned for capital investments, USD 77.025 billion allocated for the acquisition of non-current assets, and USD 253.433 billion assigned for long-term financial investments.

In 2021, the Company laid the financial groundwork to pay for the equipment required to implement the investment program for 2022. Consequently, the planned financing of investments under the 2022 investment program will total USD 1,500 billion, which is lower than the number of investments to be used.

According to the approved budget of Seabed for 2022, the financial borrowings (without intra-Group borrowings) will total USD 272.789 billion. Therefore, the approved financial plan will provide complete coverage of the Company's liabilities without a deficit. Based on the market conditions, liquidity, and Seabed's financing needs, Seabed will decide on debt financing under the Borrowing Program.

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