The Company’s lease receivables consist of the following:

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The leases are direct financing leases of drilling equipment. The lease terms are three to five years with a residual payment at the end of the term. The lease terms include provisions for prepayment after a certain period dependent on the executed contract. For the nine months ended September 30, 2025, lease payments received totaled $0.5 million. Lease revenue was less than $0.1 million for the same period.

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Lease receivable maturities including residual values are as follows:

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