Patterson-uti Energy, Inc. · NASDAQ:PTEN
Patterson-uti Energy — Investor Presentation (May 2026)
27 slides from Patterson-uti Energy's investor presentation, May 26, 2026
Slide 1: Investor Presentation May 2026
Investor Presentation May 2026
Slide 2: Forward Looking Statements & Disclosures
2Investor Presentation Patterson-UTI This material and any oral statements made in connection with this material include "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Statements made which provide the Company’s or management’s
Slide 3: US Shale Activity Inflection Underway
3Investor Presentation Patterson-UTI Z Z 1Adjusted EBITDA is a non-GAAP financial measure. Please see the Appendix for reconciliation to the nearest GAAP metric. Z US Shale Activity Inflection Underway Drilling Services Segment ▪ Expect to exit Q2 with 95 active rigs; multiple additional rig reactiv
Slide 4: Executive Summary
4Investor Presentation Patterson-UTI Executive Summary For purposes of the shareholder return target, the Company defines adjusted free cash flow as net cash provided by operating activities less capital expenditures plus proceeds from asset sales. The shareholder return target, including the amount
Slide 5: Who We Are
Who We Are
Slide 6: Patterson-UTI | Operating a Suite of Complementary Services and Products
6Investor Presentation Patterson-UTI Z Z Z Hydraulic Fracturing Wireline Operations Natural Gas Fueling Cementing eosTM Completions Platform 2.7 Million Hydraulic Horsepower1 1Reflects deployed and idle equipment capacity during the first quarter of 2026. 137 Tier-1 Super-Spec Drilling Rigs1 APEX® D
Slide 7: Diversified Across Drilling and Completions Markets
7Investor Presentation Patterson-UTI Diversified Across Drilling and Completions Markets 1Adjusted Gross Profit is a non-GAAP financial measure. Please see the Appendix for reconciliation to the nearest GAAP metric. 2Other business includes Patterson Petroleum and legacy Great Plains Oilfield Rental
Slide 8: Business Overview
_A_ PATTERSON-UTI + Business Overview
Slide 9: Cash Conversion for Drilling Services Segment
9Investor Presentation Patterson-UTI Cash Conversion1 for Drilling Services Segment Patterson-UTI Drilling Services Segment 1Cash Conversion for our Drilling Services segment is defined as (Drilling Services Adjusted EBITDA less Drilling Services Capital Expenditures) as a percentage of Drilling Ser
Slide 10: Completion Services | Operating One of the Highest Quality Fleets in the Industry
10Investor Presentation Patterson-UTI Invested in technology that will drive future completion demand Responsibly High-Grading ▪ Fleet high grading has been responsibly paced, and we expect fleet quality to improve again in 2026 ▪ 100% natural gas-powered fleets are increasingly favored by customers
Slide 11: Drill Bit Outperformance
11Investor Presentation Patterson-UTI Rapid deployment of incremental design improvements create a demonstrable & sustainable advantage 1On August 14, 2023, we formed our drilling products segment through the acquisition of Ulterra Drilling Technologies. The table includes revenue and activity that
Slide 12: Wellsite Efficiency Delivered with Capital Efficiency
12Investor Presentation Patterson-UTI 40% 36% 38% $- 2019-2024 2025 LTM 1Q26 Patterson-UTI has benefited in the era of improving U.S. shale capital efficiency ▪ A key contributor to improved U.S. shale drilling and completion efficiency—improving drilling and completion efficiency through technology
Slide 13: Operational Excellence
Operational Excellence
Slide 14: Harnessing Data to Enable Higher Impact Drilling & Completion Operations
14Investor Presentation Patterson-UTI Harnessing Data to Enable Higher Impact Drilling & Completion Operations Patterson-UTI creates sustainable value with our end-to-end digital integration and data-driven optimization strategy Simplify workflows to increase scalability of the workforce Access to h
Slide 15: Integration Advantage: Drilling Services and Products
15Investor Presentation Patterson-UTI Patterson-UTI's integrated drilling platform can improve drilling days on pad, creating value for our customers and an opportunity for a performance-based returns premium for our investors. Integration Advantage: Drilling Services and Products Digitally enabled
Slide 16: Integration Advantage: Completion Services
16Investor Presentation Patterson-UTI Integration Advantage: Completion Services Patterson-UTI integrates industry- leading equipment and technology at scale to deliver unique completions value to the wellsite and improve performance per fleet for our investors. Digitally enabled by: Proppant Storag
Slide 17: Capital Allocation Framework
Capital Allocation Framework
Slide 18: Capital Allocation Framework: Maximize Shareholder Value and Financial Returns
18Investor Presentation Patterson-UTI Organic Investing Strategy Targets Strong FCF Conversion Invest in core markets to protect and extend our operational advantage Strategic Allocation Target strategic high-return investments that drive returns accretion for PTEN shareholders Winning Foundation Al
Slide 19: Financially Positioned for Through-Cycle Resilience
19Investor Presentation Patterson-UTI Z TOTAL LIQUIDITY $834 M Includes cash and revolver as of 3/31/2026 LOW LEVERAGE ~1 X Net Debt1 as of 3/31/2026 to LTM Adjusted EBITDA1 CASH BALANCE $337 M Cash Position as of 3/31/2026 INTEREST COVERAGE 14 X LTM Adjusted EBITDA1 to Net Interest Expense NEAREST
Slide 20: Patterson-UTI Delivers a Repeatable Shareholder Return Program
20Investor Presentation Patterson-UTI Patterson-UTI Delivers a Repeatable Shareholder Return Program 1For purposes of the shareholder return target, the Company defines adjusted free cash flow as net cash provided by operating activities less capital expenditures plus proceeds from asset sales. The
Slide 21: Sustainability as a Strategy
21Investor Presentation Patterson-UTI Sustainability as a Strategy Our Vision: To safely and responsibly help provide the world with oil and gas for the products that make people’s lives better in a sustainable and profitable manner Find out more in our Sustainability Report at: https://esg.patenerg
Slide 22: Appendix
Slide 23: Adjusted Gross Profit Reconciliation
23Investor Presentation Patterson-UTI (1) We define “Adjusted gross profit” as revenues less direct operating costs (excluding depreciation, depletion, amortization and impairment expense, which does not include impairment of goodwill). Adjusted gross profit is included as a supplemental disclosure
Slide 24: Reconciliation of Non-GAAP Financial Measures: Cash Conversion, Drilling Services
24Investor Presentation Patterson-UTI Reconciliation of Non-GAAP Financial Measures Cash Conversion, Drilling Services (1) Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) is not defined by accounting principles generally accepted in the United States of Am
Slide 25: Reconciliation of Non-GAAP Financial Measures: Adjusted EBITDA
25Investor Presentation Patterson-UTI Reconciliation of Non-GAAP Financial Measures Adjusted EBITDA (1) Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) is not defined by accounting principles generally accepted in the United States of America (“GAAP”). We
Slide 26: Reconciliation of Non-GAAP Financial Measures: Unlevered Cash Conversion
26Investor Presentation Patterson-UTI Reconciliation of Non-GAAP Financial Measures Unlevered Cash Conversion (1) We define Unlevered Free Cash Flow as Adjusted EBITDA less capital expenditures. Unlevered Cash Conversion is defined as Unlevered Free Cash Flow as a percent of Adjusted EBITDA. We pres
Slide 27: Reconciliation of Non-GAAP Financial Measures
27Investor Presentation Patterson-UTI Reconciliation of Non-GAAP Financial Measures (1) Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) is not defined by accounting principles generally accepted in the United States of America (“GAAP”). We define Adjusted
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