29 slides from Cactus, Inc. Class A Common Stock's investor presentation, Mar 16, 2026
Slide 1: March 2026 Investor Presentation
Cactus | 1 March 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 and Spoolable Technologies Served as CEO of Cactus International since 2026 and as CEO of S
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 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 highly engineered products w
Slide 6: Revenue and Adjusted EBITDA Results
Cactus | 6 35% 27% 33% 36% 35% 33% 1) 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 February 28, 2023. 2) 2023 Adj. EBITDA includes Spoolable T
Slide 7: Strength of margin profile relative to peers
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: Cactus International Joint Venture At a Glance
Cactus | 11 $498 million 2024 Revenue(1) $87 million 2024 Adjusted EBITDA(1)(2) 17% 2024 Adjusted EBITDA Margin(1)(2) >$600mm December 31, 2024 Backlog ~85% Middle East Revenues(1) >$150mm 2024 Aftermarket Service Revenue(2) 3 International Manufacturing Facilities ~1,100 Employees Conventional Well
Slide 12: Cactus International Provides Transformative Geographic Exposure
Cactus | 12 1) Reflects 2024 results. International defined as non-U.S. revenue. 2) Represents the sum of Cactus results and Cactus International results (on a 100% basis, though Cactus’ initial ownership in the JV is 65%). Financial information reflects each standalone business before giving effect
Slide 13: Differentiated Offerings Enable Customers to Meet ESG-Related Goals
Cactus | 13 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 14: Expansive Global Operating Footprint
Cactus | 14 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 15: A Dynamic Manufacturing Advantage
Cactus | 15 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 16: Multiple Avenues of Growth for Spoolable Technologies
Cactus | 16 Multiple Avenues of Growth for Spoolable Technologies ● Larger diameter capabilities required by relatively untapped customer base ● Customer count has significantly increased since 2020 ● Continued traction in 2025 in developing new midstream customer relationships ● Market transition f
Slide 17: Experienced and Well Aligned Management Team
Cactus | 17 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 18: ROCE Compared to Peers (2017–2025)
Cactus | 18 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(3) (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 19: Execution Has Driven Equity Outperformance
Cactus | 19 Note: Data based on share price performance from 2/7/2018 to 3/12/2026. Cactus 2/7/2018 price set as IPO price of $19 per share Source: FactSet Execution Has Driven Equity Outperformance 142% (37%) WHD OSX Share Price Performance of Cactus vs. the OSX since IPO Share Price Outperformed t
Slide 20: Steadily Increasing Return of Capital Profile
Cactus | 20 $0 $10 $20 $30 $40 $50 2018 2019 2020 2021 2022 2023 2024 2025 (1) Increased quarterly dividend 8% in July 2025 Modest share repurchase in 2024 led to flat 2025 despite dividend increase 1) Although we intend to continue paying the quarterly dividend at the current levels, Cactus' future
Slide 21: Strong Balance Sheet & Low Capital Intensity
Cactus | 21 $18 $12 $26 $39 $35 $39 2020 2021 2022 2023 2024 2025 Strong Balance Sheet & Low Capital Intensity ● Q4 2025 cash of approximately $495 million, including $371 million of restricted cash ● Approximately $223 million availability on revolving credit facility and $100 million undrawn term
Slide 22: First Quarter Outlook
Cactus | 22 First Quarter Outlook ● Updating prior Spoolable Technologies guide provided on the February 26th conference call with this release ● Now expect Pressure Control results to be biased towards low end of prior guide due to Middle East developments o Impacts to Q1 outlook remain highly unce
Slide 23: Governance and Corporate Responsibility
Cactus | 23 ● Our board of directors believes that sound governance practices and policies provide an important framework to assist it in fulfilling its duty to stockholders ● Bylaws permit Eligible Stockholders to make nominations for election to the Board and to have those nominations included in
Slide 24: Appendix
Cactus | 24 Appendix
Slide 25: Non-GAAP Reconciliation
Cactus | 25 Year Ended ($ in thousands) December 31, 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 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 Interest expense (income), net (10,962) (6,459) 6,480 (3,714) 774 (701) (879) 3
Slide 26: Cactus and Cactus International Combined Financials
Cactus | 26 Cactus Consolidated 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 million $46 million Ad
Slide 27: Non-GAAP Reconciliation (Cactus International 100%)
Cactus | 27 Year Ended ($ 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 and Ownership Profile
Cactus | 28 Public 87% Management, Board & Select Employees 13% 1) As of March 9, 2026. Excludes effect of dilutive securities 2) As of March 9, 2026. Market capitalization utilizes total shares outstanding. Our future dividend policy is within the discretion of our board of directors and will depen
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