Nov Inc. · NYSE:NOV

Nov — Q3 2019 Earnings Presentation

15 slides from Nov's earnings presentation, 2019

1. Slide 1: 3Q 19 Earnings

   ©2019 NOV | Proprietary and confidential. 3Q 19 Earnings | 1

2. Slide 2: Non-GAAP reconciliation note

   For reconciliation of all non U.S. GAAP numbers to U.S. GAAP numbers, see tables on pages 13 and 14 ©2019 NOV | Proprietary and confidential. 3Q 19 Earnings | 2

3. Slide 3: Consolidated results

   ©2019 NOV | Proprietary and confidential. 3Q 19 Earnings | 3

4. Slide 4: Revenue and Adjusted EBITDA 3Q19

   3Q19 2Q19 Quarterly Variance Prior Year Variance Revenue 793 850 (7%) (6%) Adjusted EBITDA 133 134 Flat Flat Adjusted EBITDA % 16.8% 15.8% +100 bps +90 bps ©2019 NOV | Proprietary and confidential. 3Q 19 Earnings | 4

5. Slide 5: Wellbore Technologies

   ©2019 NOV | Proprietary and confidential. 3Q 19 Earnings | 5

6. Slide 6: Revenue and Adjusted EBITDA 3Q19

   3Q19 2Q19 Quarterly Variance Prior Year Variance Revenue 728 663 10% (1%) Adjusted EBITDA 82 52 58% (17%) Adjusted EBITDA % 11.3% 7.8% +350 bps -220 bps Starting Backlog 1,215 1,041 17% 27% Revenue out of Backlog 431 379 14% (2%) Orders 535 548 (2%) 44% Ending Backlog 1,298 1,215 7% 48% ©2019 NOV |

7. Slide 7: Completion & Production Solutions

   ©2019 NOV | Proprietary and confidential. 3Q 19 Earnings | 7

8. Slide 8: Revenue and Adjusted EBITDA 3Q19

   3Q19 2Q19 Quarterly Variance Prior Year Variance Revenue 649 671 (3%) 2% Adjusted EBITDA 105 74 42% 35% Adjusted EBITDA % 16.2% 11.0% +520 bps +400 bps Starting Backlog 3,168 3,142 1% (10%) Revenue out of Backlog 246 284 (13%) (4%) Orders 221 310 (29%) 46% Ending Backlog 3,143 3,168 (1%) (8%) ©2019

9. Slide 9: Rig Technologies

   ©2019 NOV | Proprietary and confidential. 3Q 19 Earnings | 9

10. Slide 10: Read More

    Awarded offshore wind equipment and design package in Japan For the second straight quarter, NOV secured an equipment and design order for one of the world’s largest offshore wind turbine installation vessels. This vessel, to be built at Japan Marine United, will incorporate a proprietary 2,500-ton

11. Slide 11: Appendix

    ©2019 NOV | Proprietary and confidential. 3Q 19 Earnings | 11

12. Slide 12: Appendix

    Appendix

13. Slide 13: Operating profit, other items and D&A by segment

    Three Months Ended Nine Months Ended ($ Millions) September 30, June 30, September 30, 2019 2018 2019 2019 2018 Operating profit (loss): Wellbore Technologies $ 42 $ 40 $ (3,295) $ (3,234) $ 90 Completion & Production Solutions (24) 46 (1,932) (1,991) 102 Rig Technologies (110) 58 (422) (501) 138 El

14. Slide 14: Reconciliation of Adjusted EBITDA

    Three Months Ended Nine Months Ended ($ Millions) September 30, June 30, September 30, 2019 2018 2019 2019 2018 Operating profit Reconciliation of (loss): Adjusted EBITDA: Wellbore GAAP Technologies net income (loss) attributable to Company $$ 42 (244) $$ 40 1 $$ (5,389) (3,295) (3,234) $ (5,710) $

15. Slide 15: Connect with us

    connect with us @nationaloilwellvarco National Oilwell Varco @nationaloilwellvarco @novglobal National Oilwell Varco ©2019 NOV | Proprietary and confidential. 3Q 19 Earnings | 15

NOV — Q3 2019 Earnings Presentation on 6ix