Cactus, Inc. Class A Common Stock · NYSE:WHD
Cactus, Inc. Class A Common Stock — Investor Presentation (June 2026)
29 slides from Cactus, Inc. Class A Common Stock's investor presentation, Jun 2, 2026
Slide 1: June 2026 Investor Presentation
Cactus | 1 June 2026 Investor Presentation Cactus, Inc. (NYSE: WHD) Exhibit 99.1
Slide 2: Important Disclosures
Cactus | 2 Important Disclosures Non-GAAP Measures This presentation includes references to EBITDA, Adjusted EBITDA, Transaction Adjusted EBITDA and Adjusted EBITDA Margin with respect to Cactus and Cactus International (each of which is defined below), which are not measures calculated in accordanc
Slide 3: Experienced Executive Team
Cactus | 3 Scott Bender Chairman and CEO Served as Chairman & CEO since 2023 and previously served as CEO since co-founding Cactus in 2011 Steve Tadlock EVP and Chief Executive Officer of Cactus International Served as CEO of Cactus International since 2026; previously served as CEO of Spoolable Tec
Slide 4: Investment Highlights
Cactus | 4 Investment Highlights Through-Cycle Outperformance A Leading Pure Play Equipment Solutions Provider for Onshore Markets1 Innovative and Differentiated Products & Services that Sustain Relative Margin Resilience2 Dynamic Operating and Manufacturing Capabilities3 Strong Margins and Free Cas
Slide 5: Products & Operations Overview
Cactus | 5 Products Operations Overview Products & Operations Overview 33.4% Margin 37.1% Margin Wellhead Systems Production Trees Spoolable Pipe Frac Stacks Completion Equip. Fittings Cactus Provides Service, Installation & Maintenance for its Equipment Cactus designs, manufactures, sells and rents
Slide 6: Through-Cycle Financial Performance
Cactus | 6 27% 33% 36% 35% 33% 26% 1) Q1 2026 Ann. represents Q1 2026 results annualized. Corporate elimination revenue excluded from segment results but included in consolidated revenue indicated. 2023 revenue includes Spoolable Technologies revenue from the close of the FlexSteel Merger on Februar
Slide 7: Strength of margin profile relative to peers maintained through the cycle
Cactus | 7 34% 23% 13% 13% 13% Peer A Peer B Peer C Peer D 33% 18% 14% 12% 12% Peer B Peer A Peer C Peer D Strength of margin profile relative to peers maintained through the cycle 1) Peer data represents Adjusted EBITDA where available per company filings and presentations. If not available, Adjust
Slide 8: Technologically Advanced Pad Drilling Wellhead Systems
Cactus | 8 Technologically Advanced Pad Drilling Wellhead Systems Conventional Wellhead SafeDrill® AdvantagesCactus SafeDrill® Safety Time Savings Fewer trips into confined space (cellar) No BOP manipulation after intermediate casing has been installed No “hot work” required to cut casing with
Slide 9: Technologically Advanced Spoolable Pipe Systems
Cactus | 9 Technologically Advanced Spoolable Pipe Systems Conventional Steel Line Pipe FlexSteel AdvantagesFlexSteel Spoolable Pipe Features Operator Savings Durable and corrosion- resistant Lower maintenance cost for operators Faster installation times Lower cost to install Withstands cy
Slide 10: Spoolable Pipe Applications Across the Industry Value Chain
Cactus | 10 Wellhead & Tree Production Line Pipe Gathering Line Pipe Midstream / Takeaway Line Pipe Customer E&P E&P Midstream Diameter Small / Medium Larger Largest Typical Service Multiphase production Oil / Gas / Water / CO2 Oil / Gas / CO2 Spoolable Pipe Applications Across the Industry Value Ch
Slide 11: Differentiated Offerings Enable Customers to Meet ESG-Related Goals
Cactus | 11 Differentiated Offerings Enable Customers to Meet ESG-Related Goals ● Switching from diesel to solar powered generation in certain instances ● Spoolable pipe design allows integrity testing while operating ● Spoolable pipe design characteristics are well suited for CO2 transportation ● A
Slide 12: Expansive Global Operating Footprint
Cactus | 12 1) Excludes locations with nominal headcount. Expansive Global Operating Footprint Global Operations(1) Iraq Iran Saudi Arabia U.A.E. Qatar Kuwait Services / Engineering Manufacturing Headquarters Cactus International JV Provides Core Middle East Footprint and Global Reach
Slide 13: A Dynamic Manufacturing Advantage; Responsive, Scalable and Low Cost
Cactus | 13 A Dynamic Manufacturing Advantage; Responsive, Scalable and Low Cost ● Produces 100% of FlexSteel pipe ● Only manufacturer to hydro-test all pipe before leaving its facility ● Third production line added in 2019 ● API and ISO certified ● Less time-sensitive, high-volume wellhead equipmen
Slide 14: Multiple Avenues of Growth for Spoolable Technologies
Cactus | 14 Multiple Avenues of Growth for Spoolable Technologies ● Larger diameter capabilities required by relatively untapped customer base ● Continued traction in 2026 in developing new midstream customer relationships ● May 2026 U.S. policy updates streamline regulatory processes for end-users
Slide 15: Experienced and Well Aligned Management Team
Cactus | 15 Current Experienced and Well Aligned Management Team with Strong Industry Relationships ● Management is well incentivized as it owns approximately 13% of the business o Performance-based stock compensation tied to Return on Capital Employed (“ROCE”) ● Management team has built the founda
Slide 16: ROCE (2017–2025)
Cactus | 16 FTI DRQ WEIR NCSM SBO OIS HTG FETNOV 0.0% 10.0% 20.0% 30.0% 40.0% (10.0%) 0.0% 10.0% 20.0% 30.0% 40.0% ROCE(2) (2017 – 2025) (%) (1) 1) 2023 Cactus ROCE calculation utilizes two months of year-end 2022 capitalization and ten months of year-end 2023 capitalization to reflect the acquisiti
Slide 17: Execution Has Driven Equity Outperformance
Cactus | 17 Note: Data based on share price performance from 2/7/2018 to 5/28/2026. Cactus 2/7/2018 price set as IPO price of $19 per share. Source: FactSet Execution Has Driven Equity Outperformance 207% (29%) WHD OSX Share Price Performance of Cactus vs. the OSX since IPO Substantial Value Accreti
Slide 18: Steadily Increasing Return of Capital Profile
Cactus | 18 $0 $10 $20 $30 $40 $50 2018 2019 2020 2021 2022 2023 2024 2025 2026 YTD Ann.(1) Increased quarterly dividend 8% in July 2025 Modest share repurchase in 2024 led to flat 2025 despite dividend increase 1) YTD 2026 Annualized represents Q1 2026 results annualized. Although we intend to cont
Slide 19: Strong Balance Sheet & Low Capital Intensity
Cactus | 19 $12 $26 $39 $35 $39 $36 2021 2022 2023 2024 2025 Q1 2026 Ann. Strong Balance Sheet & Low Capital Intensity ● Q1 2026 cash of approximately $292 million, including $98 million of acquisition-related cash retained within Cactus International to finalize certain restructuring activities rel
Slide 20: Second Quarter Outlook
Cactus | 20 Second Quarter Outlook ● Updating prior guides for both segments provided on the May 7th conference call with this release ● Pressure Control Q2 2026 (inclusive of Cactus International) o Revenue expected to be up low single digits versus Q1 2026 o Expected Adjusted EBITDA margin of 23%
Slide 21: Governance and Compensation
Cactus | 21 Base Salary 17% STI Target 17%LTI 66% 2025 CEO Target Pay Mix● Our board of directors believes that sound governance practices and policies provide an important framework to assist it in fulfilling its duty to stockholders ● Bylaws permit Eligible Stockholders to make nominations for ele
Slide 22: Appendix
Cactus | 22 Appendix
Slide 23: Non-GAAP Reconciliation (Cactus)
Cactus | 23 Year Ended Three Months Ended ($ in thousands) December 31, March 31, 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2026 Net income (loss) $201,642 $232,758 $214,840 $145,122 $67,470 $59,215 $156,303 $150,281 $66,547 ($8,176) $21,224 $40,221 Interest expense (income), net (10,96
Slide 24: Cactus International Joint Venture At a Glance
Cactus | 24 $498 million 2024 Revenue $87 million 2024 Adjusted EBITDA(1)(2) 17% 2024 Adjusted EBITDA Margin(1)(2) >$600mm December 31, 2024 Backlog ~85% Middle East Revenues >$150mm 2024 Aftermarket Service Revenue 3 International Manufacturing Facilities ~1,100 Employees Conventional Wellhead Syst
Slide 25: Cactus International Provides Transformative Geographic Exposure
Cactus | 25 1) Reflects 2024 results. International defined as non-U.S. revenue. 2) Represents the combined revenue of Cactus and Cactus International for 2024, as if Cactus had acquired 100% of the interests of Cactus International on January 1, 2024. Pursuant to the Cactus International Transactio
Slide 26: Cactus and Cactus International Combined Financials
Cactus | 26 Cactus Excluding Cactus International Cactus International (100%)(1) Cactus & Cactus International(2) Revenue $1,130 million $498 million $1,628 million Adj. EBITDA(3) $392 million $87 million $479 million Adj. EBITDA Margin(3) 35% 17% 29% Net Capital Expenditures(4) $35 million $10 mill
Slide 27: Non-GAAP Reconciliation (Cactus International)
Cactus | 27 Year Ended ($ in thousands) December 31, 2024 2023 Net income $51,304 $23,278 Interest expense, net 49,148 6,575 Other income (21,067) (2,133) Income tax expense 3,154 6,423 EBIT 82,539 34,143 Depreciation and amortization 4,709 5,716 EBITDA $87,248 $39,859 Business restructuring(1) 3,20
Slide 28: Company Organizational Structure
Cactus | 28 Public 87% Management, Board & Select Employees 13% 1) As of May 28, 2026. Excludes effect of dilutive securities. 2) As of May 28, 2026. Market capitalization utilizes total shares outstanding. Our future dividend policy is within the discretion of our board of directors and will depend
Slide 29: Investor Relations Contact
Cactus | 29 Investor Relations Contact Treasurer, Director of Corporate Development & Investor Relations 713-904-4669 IR@CactusWHD.com Alan Boyd