Flowco Holdings Inc. · NYSE:FLOC
Flowco — Barclays 2025 CEO Energy-Power Conference
23 slides from Flowco's conference presentation, September 2025
Slide 1: Barclays CEO Energy-Power Conference
Barclays CEO Energy-Power Conference September 2025 1
Slide 2: Disclaimer and Forward-Looking Statements
Disclaimer and Forward-Looking Statements Forward-Looking Statements This investor presentation contains statements relating to future actions and results, which are "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended. Statements of expectations and pre
Slide 3: Flowco Key Highlights
Flowco Key Highlights Pure-Play Market Leader in Production Optimization Solutions Market Leadership Market Leader and Pure-Play in Production Optimization Robust, Long-Term Growth Profile Growth Outlook Underpinned by Large, Unmet Total Addressable Market and Increasing Adoption High-Value Outcomes
Slide 4: Flowco at a Glance
Flowco at a Glance Pure-play market-leading provider of production optimization and methane management solutions for the oil and natural gas industry Company Highlights By the Numbers1 Combined Revenue and Revenue Pure-play provider of production optimization, (US$mm) artificial lift and methane aba
Slide 5: Flowco Business Segmentation
Flowco Business Segmentation Structured to effectively partner with customers and to drive operational efficiency and profitable growth Production Solutions Natural Gas Technologies Surface Equipment Downhole Components Vapor Recovery Natural Gas Systems Improve operator returns through optimization
Slide 6: Flowco’s Footprint
Flowco’s Footprint Flowco’s longstanding, blue-chip customer relationships across every major onshore U.S. producing region combined with vertically integrated operations provide a stable foundation for growth Blue-Chip Customers Extensive Operating Footprint U.S. Based Manufacturing Manufacturing 6
Slide 7: As the Industry has Matured, E&Ps Have Shifted Focus From Growth to Resource Maximization
As the Industry has Matured, E&Ps Have Shifted Focus From Growth to Resource Maximization U.S. Lower 48 Upstream Cash Flow and Reinvestment Rate1 U.S. Rig Count vs. U.S. Oil Production2 (US$bn) (MMBbl/d) Operating Cash Flow Free Cash Flow Reinvestment Rate Rig count Production 2,000 1,861 16 1,761 1
Slide 8: Flowco’s Ability to Service Customers Throughout Well Lifecycle
Flowco’s Ability to Service Customers Throughout Well Lifecycle Flowco provides a broad and growing suite of value-enhancing solutions to customers over the entire decades-long well life Illustrative Well Decline Curve Daily Production 0 2 4 6 8 10 30 Years of Production HPGL Production Conventional
Slide 9: Flowco’s Positioning in the Production Stage of a Well’s Lifecycle
Flowco’s Positioning in the Production Stage of a Well’s Lifecycle Well positioned to address ~60% of the rapidly growing artificial lift market in the U.S. Artificial Technology Lift Type Description 2023A Global Artificial Lift Market1 ($ in billions) HPGL • Injects high pressure gas down the well
Slide 10: HPGL Primer
HPGL Primer HPGL maximizes lift rates for E&P operators while lowering lease operating expenses Illustrative HPGL Application HPGL ❑ HPGL systems are skid-mounted and placed at 1 Systems the wellsite to compress natural gas Setup High injection pressure (5,500 PSI) Wellbore ❑ Natural gas is injected
Slide 11: Flowco’s Addressable Artificial Lift Market Expected to Outpace Broader Artificial Lift Market
Flowco’s Addressable Artificial Lift Market Expected to Outpace Broader Artificial Lift Market Flowco gas lift technologies poised for growth as preferred alternatives to ESP and Rod Lift Total addressable market (TAM) forecast and growth comparison by technology group1 TAM forecast by technology gr
Slide 12: Flowco Enhances High-Pressure Gas Lift and Vapor Recovery Fleet through Asset Acquisition
Flowco Enhances High-Pressure Gas Lift and Vapor Recovery Fleet through Asset Acquisition Transaction Highlights Electric Motor Drive HPGL System • On August 4th, announced the acquisition of 155 High-Pressure Gas Lift (“HPGL”) and Vapor Recovery Unit (“VRU”) systems from Archrock for approximately
Slide 13: Vapor Recovery Primer
Vapor Recovery Primer VRUs are a leading technology to help E&P operators mitigate emissions while improving operator economics Illustrative VRU Configuration Vapor ❑ VRUs are skid-mounted, highly mobile and are 2 Heater Treater 1 Recovery configured to meet the production needs of an Unit operator
Slide 14: VRU Adoption Rates are Currently Low, but are Rapidly Increasing
VRU Adoption Rates are Currently Low, but are Rapidly Increasing Vapor Recovery is seeing rapid adoption, especially in the Permian Basin Atmospheric Tanks with VRUs Atmospheric Tanks with VRUs by Basin Reporting to EPA GHGRP1 Reporting to EPA GHGRP1 Thousand tanks (LHS), % of total tanks with VRUs
Slide 15: Flowco Drivers of Growth and Deep Competitive Moats
Flowco Drivers of Growth and Deep Competitive Moats Multi-Faceted Strategy Provides Numerous Avenues for Growth Leverage Extensive Footprint Vertical Integration Williston Basin Powder River Basin Uinta DJ Basin Piceance Basin Appalachian Basin Basin Anadarko San Juan Raton Basin Headquarters Basin
Slide 16: Investment Thesis
Investment Thesis Flowco is positioned as a differentiated, pure-play production optimization provider in a high-growth market A Growing Addressable Market with Significant Growth Opportunity1 ($ in billions) Total CAGR: ~7% Addressed CAGR: ~13% $15.8 $10.1 $8.9 $7.1 Hi $6.9 th g $3.0 w Underserved
Slide 17: Flowco ROCE Analysis vs. Peers
Flowco ROCE Analysis vs. Peers Consensus Estimates as of 8/29/25 EBITDA Growth vs. Return on Capital Employed1 Oilfield Services Compression2 2024A – 2025E EBITDA Growth 30% 20% 10% 0% (10%) (20%) (30%) 5% 10% 15% 20% 25% 2025E ROCE Source: FactSet as of 8/29/25 and Public Filings; Note: Oilfield Se
Slide 18: Market Leadership Robust, Long-Term
Market Robust, Long-Term High-Value Leading Returns Leadership Growth Profile Outcomes Profile Resiliency & Blue-Chip Proven Visibility Customers Management Team 18
Slide 19: Supplemental Materials
rlowco Supplemental Materials
Slide 20: Reconciliation of Non-GAAP Financial Measures and Calculation of Certain Combined Financial Data
Reconciliation of Non-GAAP Financial Measures and Calculation of Certain Combined Financial Data Combined Revenue The Company uses non-GAAP financial measures, such as Combined Revenue, Combined EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Segment EBITDA, Adjusted Segment EBITDA Margin
Slide 21: Reconciliation of Non-GAAP Financial Measures and Calculation of Certain Combined Financial Data (Cont’d)
Reconciliation of Non-GAAP Financial Measures and Calculation of Certain Combined Financial Data (Cont’d) Combined EBITDA and Adjusted EBITDA We define EBITDA as net income, adjusted to exclude interest expense, provision for income taxes and depreciation and amortization. We define Adjusted EBITDA
Slide 22: Reconciliation of Non-GAAP Financial Measures and Calculation of Certain Combined Financial Data (Cont’d)
Reconciliation of Non-GAAP Financial Measures and Calculation of Certain Combined Financial Data (Cont’d) Combined Return on Capital Employed (“ROCE”) Combined return on capital employed is a non-GAAP measure defined as earnings before interest and taxes (“EBIT”), which is defined as net income plus
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