Slide 1: *TTVFS'SFF8SJUJOH1SPTQFDUVT %BUFE"VHVTU 'JMFE1VSTVBOUUP3VMF
*TTVFS'SFF8SJUJOH1SPTQFDUVT %BUFE"VHVTU 'JMFE1VSTVBOUUP3VMF 3FHJTUSBUJPO/P
Slide 2: Cautionary Statement on Forward-looking Statements
\ . | ’ % at =, ee 7] eee KL nercy Same S sz Cautionary Statement on Forward-looking Statements This presentation includes certain “forward-looking statements” within the meaning of, and subject to the safe harbor created by, the Private Securities Litigation Reform Act of 1895 and other federal sec
Slide 3: Executive Summary
Executive Summary SUMMARY TRANSACTION HIGHLIGHTS KLX Energy Services Holdings, Inc. (“KLX” or the “Company”) is pleased to ✔ Will achieve significant deleveraging and will increase financing flexibility announce the launch of an equity rights offering (the “Transaction”) to raise up to $125MM – Pr
Slide 4: Overview of Equity Rights Offering Terms
Overview of Equity Rights Offering Terms Term Sheet Summary KLX Energy Services Holdings, Inc. (the “Issuer”) is to distribute one transferable subscription right to its stockholders on account of each share of common stock they own as of the record date Each subscription right will entitle hold
Slide 5: Illustrative Pro Forma Capital Structure
Illustrative Pro Forma Capital Structure The Transaction provides as much as $125MM of net-deleveraging, while reducing the existing interest burden (dollar amounts in millions) Pre-Transaction Pro Forma No Shareholder Participation 25% / $31M Shareholder Participation 100% / $125M Shareholder Parti
Slide 6: KLX Q2 Financial Update & Transaction Rationale
KLX Q2 Financial Update & Transaction Rationale 6
Slide 7: Compelling Rationale for Shareholders and Noteholders
Compelling Rationale for Shareholders and Noteholders Will Achieve Significant Deleveraging and Will Increase Financing Flexibility * Pro forma net leverage ratio of 2.4x - 2.9x! + ~$11 million reduction of annual cash fixed charges / interest savings De-Risks Covenant Compliance and Future Refinanc
Slide 8: KLX is Poised To Scale
KLX is Poised To Scale The offering provides KLXE with additional flexibility for acquisitions, with enhanced financials and strategic optionality PLATFORM HIGHLIGHTS POST-TRANSACTION PROFILE Large, diversified operational footprint: ~1,670 employees across the three 9 2.4 – 2.9x1 pro forma levera
Slide 9: Services At A Glance
KLX Energy Services KLX Energy Services At A Glance COMPANY OVERVIEW DIVERSIFIED BUSINESS MODEL DIVERSIFIED PRODUCT OFFERINGS = Leading U.S. onshore provider of technologically-differentiated, mission critical services Production _ for the full life-cycle of technically demanding wells across major
Slide 10: Areas of Operation
KLX Energy Services Areas of Operation YTD 2026 REVENUE SPLIT BY COMMODITY' Natural Gas 17% “MIKLX Headquarters ™ Technology Center @ Southwest Operation Facilities ® Rockies Operation Facilities @ Northeast / Mid-Con Operation Facilities Revenue contribution based on Q2 2026 results. 'Gas contribut
Slide 11: Diversified & Complementary Product Service Offering
KLX Energy Services Diversified & Complementary Product Service Offering = Diversified product service offering positions KLX to capture a larger percentage of customer spending across the lifecycle = Refocused product service offering across core geographies to improve scale, utilization and return
Slide 12: Technological Differentiation Drives Operational Efficiencies
KLX Energy Services Technological Differentiation Drives Operational Efficiencies Directional Drilling Well Construction Completions Production Proprietary MWD tool design and packaging Proprietary surface system SHRIMP™ - Slim High-Res Inertial Measurement Probe Mud Motor - proprietary lower end an
Slide 13: KLX - The Choice of Top Operators
KLX Energy Services KLX - The Choice of Top Operators =5}0) 0, 49% CO Unique customers serviced in 2025 with Revenue driven by top 10 customers in Significant leverage to and long-term no one customer accounting for more 2025 relationships with the most active than 10% of 2025 revenue operators and
Slide 14: Maintaining Market Share
Maintaining Market Share US LAND RIG COUNT AND KLX QUARTERLY REVENUE PER RIG COUNT $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 Revenue / Rig Count($) $100,000 $50,000 $o 012022 022022 032022 042022 912023 022023 032023 042023 912024 022024 032024 042024 012025 922025 032025 042025 012026 0
Slide 15: Significant Operating Leverage to a Rising Rig Count Environment
Significant Operating Leverage to a Rising Rig Count Environment US LAND RIG COUNT AND KLX QUARTERLY ADJ. EBITDA PER RIG COUNT $70,000 $60,000 $50,000 $40,000 $30,000 Adj. EBITDA / Rig Count ($) $20,000 $10,000 $o Q12022 022022 032022 042022 012023 022023 032023 0420235 012024 022024 032024 042024 Q
Slide 16: Compelling Investment Opportunity
KLX Energy Services Compelling Investment Opportunity str ee et NET DEBT / LTM EBITDA - SQ & PF KLXE VS EV / LTM EBITDA - PF KLXE VS. PUBLIC US OFS COMPANIES ($100MM - $1.5B TEV)! Market Cap (SMM) PEERS Pro Forma? 87 300 145 526 172 139 1,306 85 Ly 2 SED 2) SD Se sce SD Peer Net Debt MEBITDA KLXE S0
Slide 17: Stock Consideration in Recent OFS M&A
KLX Energy Services Stock Consideration in Recent OFS M&A (dollar amounts in millions) Public OFS companies with lower leverage have been able to use more stock currency to finance M&A, positioning them to capture benefits of synergies and greater scale TOTAL VALUE OF STOCK CONSIDERATION PAID IN M&A
Slide 18: 3040 Post Oak Blvd
3040 POST OAK BLVD 15th Floor Houston, TX 77056 Geoffrey C. Stanford, SVP, Interim CFO & CAO (832) 930-8066 IR@kIx.com
Slide 19: Appendix
Slide 20: Reconciliation of Consolidated Net (Loss) Income to Adjusted EBITDA (Loss)
KLX Energy Services Reconciliation of Consolidated Net (Loss) Income to Adjusted EBITDA (Loss) (dollar amounts in millions) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Consolidated net (loss) ($19.9) ($7.5) $11.1 $13.2 $9.4 $11.4 $7.6 (
Slide 21: Consolidated Net (Loss) Income Margin and Consolidated Adjusted EBITDA Margin Reconciliations
KLX Energy Services Consolidated Net (Loss) Income Margin and Consolidated Adjusted EBITDA Margin Reconciliations (dollar amounts in millions) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Net (loss) income ($19.9) ($7.5) $11.1 $13.2 $9.4
Slide 22: Reconciliation of Segment Operating (Loss) Income to Adjusted EBITDA
KLX Energy Services Reconciliation of Segment Operating (Loss) Income to Adjusted EBITDA (dollar amounts in millions) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Rocky Mountains operating ($0.8) $4.0 $11.7 $12.4 $9.8 $11.9 $17.7 $6.7 ($
Slide 23: Reconciliation of Segment Operating (Loss) Income to Adjusted EBITDA
KLX Energy Services Reconciliation of Segment Operating (Loss) Income to Adjusted EBITDA (dollar amounts in millions) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Southwest operating (loss) ($0.4) $2.0 $5.2 $7.7 $4.8 $8.1 $4.8 $1.7 ($0.7
Slide 24: Reconciliation of Segment Operating (Loss) Income to Adjusted EBITDA
KLX Energy Services Reconciliation of Segment Operating (Loss) Income to Adjusted EBITDA (dollar amounts in millions) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Northeast/Mid-Con operating ($0.8) $7.3 $17.2 $15.4 $18.7 $12.6 $5.2 $4.1
Slide 25: Segment Operating (Loss) Income Margin Reconciliation
KLX Energy Services Segment Operating (Loss) Income Margin Reconciliation (dollar amounts in millions) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Rocky Mountains Operating (loss) income ($0.8) $4.0 $11.7 $12.4 $9.8 $11.9 $17.7 $6.7 ($1
Slide 26: Segment Adjusted EBITDA Margin Reconciliation
KLX Energy Services Segment Adjusted EBITDA Margin Reconciliation (dollar amounts in millions) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Rocky Mountains Adjusted EBITDA $4.7 $9.3 $17.3 $17.9 $15.5 $17.0 $23.3 $12.7 $5.4 $17.2 $16.6 $1
Slide 27: Adjusted SG&A Margin Reconciliation
KLX Energy Services Adjusted SG&A Margin Reconciliation (dollar amounts in millions) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Adjusted selling, general and $14.3 $15.9 $17.1 $19.4 $20.2 $20.7 $17.5 $19.0 $18.7 $17.1 $18.6 $15.8 $16.5
Slide 28: Annualized Quarterly (LQA) Adjusted EBITDA Reconciliation
KLX Energy Services Annualized Quarterly (LQA) Adjusted EBITDA Reconciliation (dollar amounts in millions) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Adjusted EBITDA $4.9 $17.4 $37.1 $37.3 $38.2 $39.7 $36.7 $23.0 $12.0 $27.0 $27.8 $22.
Slide 29: Free Cash Flow Reconciliation
KLX Energy Services Free Cash Flow Reconciliation (dollar amounts in millions) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Net cash flow (used in) provided by operating ($6.2) ($8.4) $18.5 $11.8 ($8.6) $60.0 $25.6 $38.6 ($10.8) $22.2 $1
Slide 30: Disclaimer
Disclaimer This presentation includes Adjusted EBITDA, Adjusted EBITDA margin, levered free cash flow, net debtandinet leverage ratio measures, Each of the metricsare “non-GAAP financial measures” as defined in Regulation G of the Securities Exchange Act of 1934. Adjusted EBITDA is a supplemental no