Total Energy Services Inc. · TSX:TOT
Total Energy Services — Shareholder Meeting (May 2026)
15 slides from Total Energy Services's shareholder meeting presentation, May 19, 2026
Slide 1: 30th Annual Meeting of Shareholders May 19, 2026
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Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS Forward-Looking Information Certain information presented in these remarks and in this presentation that is not historical factual information and/or based on current views and assumptions and is subject to uncertainties may constitute forward-looking information within the mea
Slide 3: Why Invest in Oil and Gas?
WHY INVEST IN OIL AND GAS? Peak oil and natural gas? Global coal There is no such thing as an energy- Massive investment in global LNG consumption has yet to peak poor wealthy country infrastructure supports future natural gas demand FOCUS DISCIPLINE GROWTH
Slide 4: Why Invest in Total Energy Services?
WHY INVEST IN TOTAL ENERGY SERVICES? DIVERSIFIED EXPOSURE TO GLOBAL ENERGY DEVELOPMENT CONTRACT DRILLING RENTALS AND COMPRESSION AND WELL SERVICING SERVICES (CDS) TRANSPORTATION PROCESS SERVICES (WS) SERVICES (RTS) (CPS) ▪ Onshore drilling operations ▪ Leading provider of surface ▪ Established provi
Slide 5: Corporate Information
CORPORATE INFORMATION Shares outstanding (basic, at May 12, 2026) 36.7 million Options outstanding (at March 31, 2026, $9.43 weighted avg exercise price) 1.3 million Market Capitalization (basic, at $25.00 share price) $916.6 million Working capital (1) (at March 31, 2026) $113.4 million Property, p
Slide 6: Recent Financial Performance
RECENT FINANCIAL PERFORMANCE (in thousands of CDN dollars, except per share amounts and shares outstanding) 3 months ended Year ended March 31 December 31 2026 2025 2025 2024 Revenue $ 314,896 $ 251,909 $ 1,064,732 $ 906,776 EBITDA (1) 55,158 50,488 195,070 171,845 Cashflow 54,290 44,934 171,975 162
Slide 7: Geographical Diversification
GEOGRAPHICAL DIVERSIFICATION 2025 REVENUE BREAKDOWN: 44% 33% ▪ Geographical diversification mitigates regional cyclicality ▪ Asian LNG demand drives Australian drilling and well servicing activity ▪ 2025 Asian LNG prices averaged US$12.45/mmBtu(1) versus the Henry Hub gas price which averaged US$3.5
Slide 8: Geographical Diversification
GEOGRAPHICAL DIVERSIFICATION Q1 2026 REVENUE BREAKDOWN: 47% 32% ▪ Geographical diversification mitigates regional cyclicality ▪ Asian LNG demand drives Australian drilling and well servicing activity ▪ 2025 Asian LNG prices averaged US$12.45/mmBtu(1) versus the Henry Hub gas price which averaged US$
Slide 9: Capital Stewardship
CAPITAL STEWARDSHIP In Millions of CAD$ DISCIPLINED CAPITAL INVESTMENT ▪ No recorded impairments of PP&E or goodwill since inception ▪ Stable capital investment to maintain best-in-class equipment fleet REWARDING OUR SHAREHOLDERS ▪ $379.2 million returned to shareholders through dividends and (1) (2
Slide 10: Growing Shareholder Value
GROWING SHAREHOLDER VALUE Acquisition of Saxon in Q1 2024 Over $284.5 million of debt repaid since the Substantial free cash flow (3) generated since Since 2017 acquisition of Savanna: acquisitions of Savanna and Saxon January 1, 2024 allocated to two acquisitions, ▪ Outstanding share count ↓ 20.6%
Slide 11: Solid Tangible Asset Value
SOLID TANGIBLE ASSET VALUE ALLOCATING CAPITAL TO HIGHEST RETURN OPPORTUNITIES ▪ Cumulative proceeds on disposals of PP&E >$93.7 million since January 1, 2016 SOUND PP&E BOOK VALUES ▪ Have never recorded a PP&E impairment despite completing over 40 acquisitions since 1997 ▪ Cumulative gain on sale of
Slide 12: Discipline Drives Outperformance
DISCIPLINE DRIVES OUTPERFORMANCE ▪ Total’s focus on capital stewardship and disciplined operating practices drives industry leading full cycle ROE and shareholder returns with prudent use of debt ▪ Despite significant share price appreciation over the past 5 years, TOT’s valuation remains low relati
Slide 13: 2026 Capital Expenditure Plan
2026 CAPITAL EXPENDITURE PLAN ▪ $87.4 million 2026 budgeted capital spend $52.6 million of growth capital: o Upgrade active Australian drilling rig – Q3 2026 deployment o Upgrade idle Canadian double to AC triple – Q1 2027 completion o New build Australian service rig – Q2 2027 deployment $34.8 mill
Slide 14: Corporate and Community Highlights
CORPORATE AND COMMUNITY HIGHLIGHTS POSITIVELY IMPACTING THE COMMUNITIES WE OPERATE IN ▪ Community engagement through sponsorship of numerous programs, including the Goodstriker Yakiwchuk Memorial Hockey Day and the Total Oilfield Rentals junior division football team in Casper, Wyoming ▪ Patented NO
Slide 15: Contact Information
CONTACT INFORMATION For further information about Total Energy Services Inc., contact: Daniel Halyk, President & CEO, phone: (403) 216-3921, email: dhalyk@totalenergy.ca or Yuliya Gorbach, VP Finance & CFO phone: (403) 216-3920, email: ygorbach@totalenergy.ca www.totalenergy.ca Savanna Well Servicin
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