Nov Inc. · NYSE:NOV

Nov — Q1 2019 Earnings Presentation

15 slides from Nov's earnings presentation, 2019

1. Slide 1: 1Q 19 Earnings

   ©2019 NOV | Proprietary and confidential. 1Q 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. 1Q 19 Earnings | 2

3. Slide 3: NOV revenue by segment and geography

   Wellbore Technologies $807MM 66% LAND Completion & Production Solutions $581MM Rig Technologies $603MM 45% NORTH AMERICA “North America” refers to the United States and Canada ©2019 NOV | Proprietary and confidential. 1Q 19 Earnings | 3

4. Slide 4: Consolidated revenue and adjusted EBITDA

   1Q19 4Q18 Quarterly Variance Prior Year Variance Revenue 807 884 (9%) 14% Adjusted EBITDA 117 155 (25%) 14% Adjusted EBITDA % 14.5% 17.5% -300 bps Flat ©2019 NOV | Proprietary and confidential. 1Q 19 Earnings | 4

5. Slide 5: Wellbore Technologies

   ©2019 NOV | Proprietary and confidential. 1Q 19 Earnings | 5

6. Slide 6: Wellbore Technologies results

   1Q19 4Q18 Quarterly Variance Prior Year Variance Revenue 581 788 (26%) (13%) Adjusted EBITDA 28 112 (75%) (62%) Adjusted EBITDA % 4.8% 14.2% -940 bps -610 bps Starting Backlog 894 880 2% (16%) Revenue out of Backlog 316 456 (31%) (18%) Orders 470 470 Flat 45% Ending Backlog 1,041 894 16% 3% ©2019 NO

7. Slide 7: Completion & Production Solutions

   ©2019 NOV | Proprietary and confidential. 1Q 19 Earnings | 7

8. Slide 8: Completion & Production Solutions results

   1Q19 4Q18 Quarterly Variance Prior Year Variance Revenue 603 804 (25%) 25% Adjusted EBITDA 56 102 (45%) 24% Adjusted EBITDA % 9.3% 12.7% -340 bps Flat Starting Backlog 1,317 1,601 (17%) (34%) Revenue out of Backlog 246 403 (39%) 61% Orders 271 119 128% 35% Ending Backlog 1,342 1,317 2% (29%) ©2019 N

9. Slide 9: Rig Technologies

   ©2019 NOV | Proprietary and confidential. 1Q 19 Earnings | 9

10. Slide 10: Order and operational highlights

    Order booked for BP ACE platform in Caspian Sea This award, for both the drilling and mud equipment packages, is the culmination of a rigorous 2-year process which involved initial project qualification and competitive Front-End Engineering Design (FEED) studies. The ACE platform will operate offsho

11. Slide 11: Employees and market capitalization

    1 Full Time Equivalent workers 2 Market Capitalization recorded as of April 25, 2019. ©2019 NOV | Proprietary and confidential. 1Q 19 Earnings | 11

12. Slide 12: Appendix

    Appendix

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

    Three Months Ended March 31, December 31, 2019 2018 2018 Operating profit (loss): Wellbore Technologies $ 19 $ 12 $ 41 Completion & Production Solutions (35) 16 64 Rig Technologies 31 18 75 Eliminations and corporate costs (63) (47) (93) Total operating profit (loss) $ (48) $ (1) $ 87 Other items: W

14. Slide 14: Adjusted EBITDA reconciliation

    Three Months Ended March 31, December 31, 2019 2018 2018 Adjusted EBITDA: Wellbore Technologies $ 117 $ 103 $ 155 Completion & Production Solutions 28 73 112 Rig Technologies 56 45 102 Eliminations and corporate costs (61) (61) (90) Total adjusted EBITDA $ 140 $ 160 $ 279 Reconciliation of Adjusted

15. Slide 15: Connect with us

    connect with us @nationaloilwellvarco National Oilwell Varco @nationaloilwellvarco @novglobal National Oilwell Varco ©2019 NOV | Proprietary and confidential. 1Q 19 Earnings | 15

NOV — Q1 2019 Earnings Presentation on 6ix