Nabors Industries Ltd. · NYSE:NBR
Nabors Industries — Non-Deal Roadshow (September 2025)
29 slides from Nabors Industries's roadshow presentation, Sep 11, 2025
Slide 1: September Investor Meetings
September Investor Meetings NYSE: NBR Nabors Industries
Slide 2: Forward-looking statements
NABORS.COM We often discuss expectations regarding our future markets, demand for our products and services, and our performance in our annual, quarterly, and current reports, press releases, and other written and oral statements. Such statements, including statements in this document that relate to
Slide 3: A Leader in the Energy Space
Most Robust Technology Portfolio in the Industry 300+ Land and Offshore Rigs Globally In Markets Comprising 65% Of Global Petroleum and Other Liquids Production 15+ Countries and a Diversified Customer Base ~14,000 Employees representing 85+ nationalities A Leader in the Energy Space NABORS INDUSTRI
Slide 4: Operating Owned Rigs in Four Key Regions
NABORS.COM Operating 157 Owned Rigs in Four Key Regions Nabors & Parker Active Rigs Worldwide 4 68 USA 52 KSA 21 LATAM 16 EH Active rigs in the U.S., with almost half in West and South Texas, another quarter in the Bakken and a growing fleet in Alaska. A key growth region with 52 active rigs operate
Slide 5: Vertically Integrated Drilling and Technology Solutions
NABORS.COM 3 0 % 4 8 % 17 % 5 % H1 2025 Revenue by Segment U.S. Drilling International Drilling Drilling Solutions Rig Technologies 5 The Industry’s Most Innovative Technology NABORS INDUSTRIES Vertically Integrated Drilling and Technology Solutions Drilling Operations Rig Technologies Drilling Solu
Slide 6: Recent Highlights
NABORS.COM Recent Highlights NABORS INDUSTRIES 6 In 2Q, International Drilling daily adj. gross margin of >$17,500; L48 daily adj. gross margin of ~$13,900 Acquired Parker Wellbore in late 1Q; integration on track; expected to deliver run-rate adj. EBITDA of >$70 million by 4Q’25 In 3Q, deployed 1 r
Slide 7: Two High-Impact Transactions in 2025
NABORS.COM Two High-Impact Transactions in 2025 NABORS INDUSTRIES 7 Acquisition of Parker Total consideration: $274 million Consisting of: 4.8 mm NBR shares $93 mm net debt assumed 1.4x EV/EBITDA with estimated synergies Divestiture of Quail Net proceeds: $625 million Consisting of: $375 mm in cash
Slide 8: Nabors 3Q Outlook
NABORS.COM Nabors 3Q Outlook NABORS INDUSTRIES 8 Lower 48 Alaska and U.S. Offshore ⟩ Avg. rig count between 57 and 59 ⟩ Daily adjusted gross margin of ~$13,300 ⟩ Combined adjusted EBITDA of ~$26 million ⟩ 3Q 2025: $200 - $210 million ⟩ FY 2025: $700 - $710 million ⟩ EBITDA up $2-3 million Drilling S
Slide 9: Key Value Drivers
NABORS.COM Performance excellence in the Lower-48 9 Expanding & enhancing our International business Key Value Drivers 1 Advancing technology & innovation with demonstrated results Focused on our commitment to de-lever 2 3 Reducing carbon intensity 4 5
Slide 10: Focus on Improving International Rig Economics
NABORS.COM $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3QE 2022 2023 2024 2025 International Drilling Rig Revenue and Adjusted Gross Margin per Day* Daily Rig Revenue Adjusted Daily Gross Margin 50 55 60 65 70 75 80 85 90 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
Slide 11: Significant Deployments of Additional International Rigs Scheduled through YE 2025
NABORS.COM 3 1 3 2 -1 -1 -3 -1 -1 -1 1 1 1 2 2 85 86 93 Rig Count 70 75 80 85 90 95 100 105 110 1 Significant Deployments of Additional International Rigs Scheduled through YE 2025 11 Note: These estimates are based on current market conditions and expectations are based on information received from
Slide 12: Delivering Strong Results in a Challenging Market
NABORS.COM $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3QE 2022 2023 2024 2025 L48 Drilling Rig Revenue and Adjusted Gross Margin per Day* Daily Rig Revenue Adjusted Daily Gross Margin 0 10 20 30 40 50 60 70 80 90 100 1Q 2Q 3Q 4Q 1Q 2Q
Slide 13: NDS Generating Superior Financial Performance
NABORS.COM 0% 15% 30% 45% 60% 75% 0% 20% 40% 60% 80% 100% U.S. Drilling Int'l Drilling* NDS** Adjusted Gross Margin % Adjusted EBITDA to Cash Conversion H1 2025 Free Cash Conversion Adjusted EBITDA to Cash Conversion*** Adjusted Gross Margin % 13 NDS Generating Superior Financial Performance Advanci
Slide 14: Broadest Portfolio of Drilling OFS Solutions
NABORS.COM Broadest Portfolio of Drilling OFS Solutions Advancing Technology and Innovation with Demonstrated Results 14 Products Pipeline? ● Can compete on third party rigs ● Has the service, but can only use on their own platform Source: Publicly available information Solutions NBR HP PTEN PDS ESI
Slide 15: An Expansive Global Footprint
NABORS.COM An Expansive Global Footprint NABORS DRILLING SOLUTIONS 15 Digital Solutions Surface Solutions Downhole Solutions Canada United States Mexico Colombia Argentina India Kazakhstan Algeria UAE Oman PNG Saudi Arabia Malaysia Indonesia Kuwait Libya United Kingdom Norway 3 Advancing Technology
Slide 16: Leveraging 'Rig as a Platform'
NABORS.COM 16 Nabors Drilling Solutions Leveraging ‘Rig as a Platform’ Managed Pressure Drilling Performance Software Wellbore Placement Automated Casing Running Data Integration / 3 Advancing Technology and Innovation with Demonstrated Results
Slide 17: A Framework for Analyzing NDS
NABORS.COM 17 A Framework for Analyzing NDS NDS Enables Smart Operations with Data-Driven Solutions 3 Advancing Technology and Innovation with Demonstrated Results Efficiency, consistency and safety Automation and remote operations Well complexity Lateral lengths Addressable Market Growth Drivers Co
Slide 18: NDS Margin Reflects the Addition of Retained Parker Businesses
NABORS.COM 0% 15% 30% 45% 60% $- $100 $200 $300 $400 NDS Revenue, Adjusted EBITDA & Adjusted Gross Margin % Revenue Adjusted EBITDA Adjusted GM % NDS Margin Reflects the Addition of Retained Parker Businesses Advancing Technology and Innovation with Demonstrated Results 18 3 * YTD 6/30/25 annualized
Slide 19: NDS Portfolio Demonstrating Value, Globally
NABORS.COM $- $100 $200 $300 $400 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1'25* $ Millions NDS - U.S. Revenue $- $50 $100 $150 $200 $250 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1'25* $ Millions NDS - International Revenue NDS Portfolio Demonstrating Value, Globally Advancing Technology a
Slide 20: Executing on Leverage Optimization
NABORS.COM x At closing in March, Parker had $178 million of gross debt and $85 million in cash x Post-close, transitioned the Parker debt to Nabors’ revolving credit facility, resulting in immediate savings by eliminating a higher interest rate loan x In August, sold Quail Tools subsidiary for $625
Slide 21: Actively Bringing Down Debt with Proceeds from Sale of Quail
NABORS.COM 696 379 250 650 550 178 $0 $200 $400 $600 $800 $1,000 2025 2026 2027 2028 2029 2030 2031 Million 21 Actively Bringing Down Debt with Proceeds from Sale of Quail Notes Revolving Credit Facility Focusing on the maturities due in 2027 and 2028 Paid down $178 million on the RCF After receipt
Slide 22: Transaction Strengthens the Balance Sheet and Reduces Interest
NABORS.COM Transaction Strengthens the Balance Sheet, Adds Incremental Adjusted EBITDA and Reduces Interest Focused on our Commitment to De-lever 22 4 Nabors Pre-transactions Parker Welbore Synergies Quail Nabors Post-transactions (Millions) $- $200 $400 $600 $800 $1,000 $1,200 Full-Year 2025 Adjust
Slide 23: Our Energy Transition and Sustainability Strategy
NABORS.COM Our Energy Transition and Sustainability Strategy Reducing Carbon Intensity 23 Improve Nabors’ environmental footprint Collaborate with peers to reduce carbon output in our industry Partner in adjacent markets that leverage our talent and technologies Invest in companies developing green
Slide 24: Energy Transition – Areas of Focus
NABORS.COM Energy Transition – Areas of Focus Reducing Carbon Intensity 24 Energy & Emissions Management Rig electrification Load sharing and optimization Emissions monitoring Peak shaving Energy Storage Batteries Supercapacitors Hydrides Fuels Hydrogen Technologies Hydrogen electrolyzer Fuel cells
Slide 25: Footnotes, Financial Definitions and Disclaimer
NABORS.COM Footnotes, Financial Definitions and Disclaimer 25
Slide 26: Non-GAAP Definitions
NABORS.COM 26 Non-GAAP Definitions We do not provide a forward-looking reconciliation of our outlook for Segment Adjusted EBITDA or Segment Adjusted Gross Margin, as the amount and significance of items required to develop meaningful comparable GAAP financial measures cannot be estimated at this tim
Slide 27: Reconciliation of U.S. Drilling Segment Adjusted Gross Margin
NABORS.COM Reconciliation of U.S. Drilling Segment Adjusted Gross Margin to U.S. Drilling Segment Adjusted Operating Income 27 Adjusted gross margin by segment represents adjusted operating income (loss) plus general and administrative costs, research and engineering costs and depreciation and amort
Slide 28: Reconciliation of International Drilling Segment Adjusted Gross Margin
NABORS.COM Reconciliation of International Drilling Segment Adjusted Gross Margin to International Drilling Segment Adjusted Operating Income 28 Adjusted gross margin by segment represents adjusted operating income (loss) plus general and administrative costs, research and engineering costs and depr
Slide 29: Nabors Industries Ltd. Contact Us
NABORS INDUSTRIES LTD. NABORS.COM NABORS CORPORATE SERVICES 515 W. Greens Road Suite 1200 Houston, TX 77067-4525 @naborsglobal Contact Us: William C. Conroy, CFA VP - Corporate Development and Investor Relations William.Conroy@nabors.com Kara K. Peak Director - Corporate Development and Investor Rel
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