Halliburton Company · NYSE:HAL

Halliburton — Q4 2025 Earnings Presentation

32 slides from Halliburton's earnings presentation, January 2026

Slide 1: Fourth Quarter 2025 Update
Fourth Quarter 2025 Update NYSE Stock Symbol: HAL Common Dividend: $0.17 in the fourth quarter 2025 Shares Outstanding: 838 million as of 1/30/2026 Investor Relations Contacts David Coleman, Sr. Director Lyn Labahn, Director (281) 871-2688 investors@halliburton.com © 2025 Halliburton. All rights res
Slide 2: Safe Harbor
Safe Harbor The statements in this presentation that are not historical statements are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control, which could cause act
Slide 3: Agenda
Agenda Company Overview 4 Strategic Priorities 8 ▪ Deliver Profitable International Growth ▪ Maximize Value in North America ▪ Improve Capital Efficiency ▪ Accelerate Digital and Automation ▪ Advance Sustainable Energy Future Financial Results 23 3 © 2025 Halliburton. All rights reserved.
Slide 5: Halliburton Global Footprint
Halliburton Global Footprint Founded 1919 Employees of over 145 Nationalities 46,000* TC TC TC TC Operational Countries TC TC TC TC 70+ TC TC Research Centers TC 12 Locations TC Technology Centers Corporate Headquarters Houston TC Corporate Headquarters *approximately 5 © 2025 Halliburton. All right
Slide 6: Halliburton Participates in Every Stage of Oilfield Life Cycle
Halliburton Participates in Every Stage of Oilfield Life Cycle Exploration Well Construction Completions Production Abandonment 6 © 2025 Halliburton. All rights reserved.
Slide 7: Halliburton Product Service Lines
Halliburton Product Service Lines Drilling and Integrating All Completion and Evaluation (D&E) Product Service Lines* Production (C&P) Sperry Drill Bits Wireline Project Landmark Cementing Completion Production Drilling & Services & Perforating Management & Consulting Tools Enhancement Testing Baroi
Slide 8: Halliburton Has Set Its Key Strategic Priorities
Halliburton Has Set Its Key Strategic Priorities We have a clear sense of purpose – to help our customers satisfy the world’s need for the affordable and reliable energy provided by oil and gas – in a more effective, efficient, safe, and ethical manner – while minimizing environmental impact. Our ke
Slide 10: Profitable International Growth
Profitable International Growth Portfolio Strength Drives Market Outperformance 4Q 2025 Revenue International Revenue Performance 110 39% 106 North 105 America 100 1Q 2024 = 100 95 90 91 85 61% 80 International 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 HAL Int'l Revenue Index Int'l Rig Index >60% of H
Slide 11: Leading Drilling Technology Platforms
Leading Drilling Technology Platforms iCruise® iStar LOGIX® Intelligent Rotary Steerable System Intelligent Drilling & Logging Platform Autonomous Drilling Platform ▪ High mechanical specifications ▪ Industry leading subsurface ▪ Fully autonomous closed loop enable faster drilling insights for bette
Slide 13: Zeus Electric Fracturing System
Zeus Electric Fracturing System Power System • Grid Power Solutions • Natural Gas Reciprocating Engines – VoltaGrid® Patent Portfolio • 50+ patents and applications Performance • Q10 pump • Over 4 years operating at scale • Proven Service Quality • All-Electric Location • Robust Supply Chain 13 © 20
Slide 14: Sensori Fracture Monitoring Service
Sensori Fracture Monitoring Service Unlocks additional value through adaptive frac designs Monitoring at Scale ▪ Continuous subsurface feedback Optimizes Fracture Effectiveness ▪ Controls fracture behavior and improves output predictability Improves Asset Recovery ▪ Enables dynamic completion design
Slide 16: Capital Efficiency
Capital Efficiency Lower Capital Intensity CAPEX at 5-6% of revenue Strengthen FCF Profile ▪ Equipment design ▪ Higher asset velocity ~$2.1B average annual FCF* enhancements ▪ Digital technologies (2022-2025) ▪ New materials ▪ Changing portfolio mix CAPEX as % of Revenue 11.4% 7.2% 5-6% * See slide
Slide 18: Digital
Operational foundations and solution offerings that further Digital enable Halliburton’s value proposition Open Architecture Internal Processes Automation and Remote Software Infrastructure Operations iEnergy®, AI, ML, Partnership Workflows, Execution, Controls LOGIX® OCTIV® Intelevate DS365® Well C
Slide 19: DecisionSpace 365 powered by iEnergy
DecisionSpace®365 powered by iEnergy® Subscription based suite of E&P cloud services Well Construction Subsurface ▪ Plan, design and construct ▪ Gain invaluable insights to safe, cost effective, and reduce subsurface risk and productive wells. uncertainty. Reservoir and Production Agile Field Manage
Slide 21: Commitments
Commitments Environmental Social Governance ▪ Engage customers on the ▪ Provide a diverse and inclusive ▪ Streamline our risk management emissions reduction journey environment for our employees ▪ Cultivate a sustainable supply ▪ Develop low environmental ▪ Target to outperform our sector chain impa
Slide 22: Environmental Focus
Environmental Focus Emissions Reduction Target: reduce Scope 1 and Scope 2 emissions by 40% by 2035 from our baseline year of 2018 ▪ Standardize and operationalize GHG data capture ▪ Process and governance of emissions sources and GHG Inventory System calculation 00 ▪ Emissions data quality assuranc
Slide 24: 4Q25 Revenue Breakdown
4Q25 Revenue Breakdown Middle East/Asia North America ▪ 4Q25 revenue of $1.5 billion, a 3% increase ▪ 4Q25 revenue of $2.2 billion, a 7% decrease sequentially. sequentially. 39% ▪ Primarily driven by increased well intervention 26% ▪ Primarily driven by lower stimulation activity in services and hig
Slide 26: Financial Metrics
Financial Metrics Total Revenue(a) Adjusted Return on Capital Employed(d) 180 19% 170 17% 160 15% 14% 13% 150 12% 12% 140 9% 130 8% 1Q21 = 100 120 5% 110 100 90 2021 2022 2023 2024 2025 Peer Group(b) HAL HAL Peer Group (b) Debt Maturity Profile(c) ($M) Cash Flow Performance(e) ($M) $3,865 $1,000 $3,
Slide 27: Reconciliation of Cash Flows from Operating Activities to Free Cash Flow
Reconciliation of Cash Flows from Operating Activities to Free Cash Flow ($millions) 2021 2022 2023 2024 2025 Total cash flows provided by operating activities $1,911 $2,242 $3,458 $3,865 $2,926 Capital expenditures (799) (1,011) (1,379) (1,442) (1,254) Proceeds from sales of property, plant, and eq
Slide 28: Reconciliation of Net Income to ROCE and Adjusted ROCE
Reconciliation of Net Income to ROCE and Adjusted ROCE ($millions) 2021 2022 2023 2024 2025 Net income attributable to company $1,457 $1,572 $2,638 $2,501 $1,283 Interest expense, net of taxes 407 404 378 350 321 Operating profit, net of taxes (a) $1,864 $1,976 $3,016 $2,851 $1,604 Adjustments, net
Slide 30: Shareholder Returns
Shareholder Returns Announced Capital Return Framework Form of Distribution Dividends • Dividend of $0.17 / share in Q4 2025 At Least 50% Share Repurchases • Repurchased ~$800M of securities in 2023b • Repurchased ~$1B of securities in 2024c of Annual Free Cash Flowa returned to • Repurchased ~$1B o
Slide 31: Why Halliburton
Why Halliburton Only integrated services company with a strong presence in both North America and International markets Strong culture of execution Differentiated technology to drive efficiency Financial outperformance Advancing a sustainable energy future 31 © 2025 Halliburton. All rights reserved.

Halliburton Company — Q4 2025 Earnings Presentation on 6ix

Halliburton — Q4 2025 Earnings Presentation

Slide 1: Fourth Quarter 2025 Update

Slide 2: Safe Harbor

Slide 3: Agenda

Slide 4: Company Overview

Slide 5: Halliburton Global Footprint

Slide 6: Halliburton Participates in Every Stage of Oilfield Life Cycle

Slide 7: Halliburton Product Service Lines

Slide 8: Halliburton Has Set Its Key Strategic Priorities

Slide 9: Deliver Profitable International Growth

Slide 10: Profitable International Growth

Slide 11: Leading Drilling Technology Platforms

Slide 12: Maximize Value in North America

Slide 13: Zeus Electric Fracturing System

Slide 14: Sensori Fracture Monitoring Service

Slide 15: Improve Capital Efficiency

Slide 16: Capital Efficiency

Slide 17: Accelerate Digital and Automation

Slide 18: Digital

Slide 19: DecisionSpace 365 powered by iEnergy

Slide 20: Advance Sustainable Energy Future

Slide 21: Commitments

Slide 22: Environmental Focus

Slide 23: Financial Results

Slide 24: 4Q25 Revenue Breakdown

Slide 25: Segment and Geographic Results

Slide 26: Financial Metrics

Slide 27: Reconciliation of Cash Flows from Operating Activities to Free Cash Flow

Slide 28: Reconciliation of Net Income to ROCE and Adjusted ROCE

Slide 29: Capital Returns

Slide 30: Shareholder Returns

Slide 31: Why Halliburton

Slide 32: Thank You