Innovex International, Inc. · NYSE:INVX

Innovex International — Merger or Acquisition (June 2025)

13 slides from Innovex International's merger presentation, Jun 2, 2025

  1. Slide 1: Innovex Acquires Citadel Casing Solutions, LLC

    Innovex Acquires Citadel Casing Solutions, LLC (“Citadel”) 1

  2. Slide 2: Disclaimer

    Disclaimer Important Information and Disclaimers This disclaimer applies to this document and the verbal or written comments of any person presenting it. This document, taken together with any such verbal or written comments, is referred to herein as the “Presentation.” Historical financial results

  3. Slide 3: Disclaimer (Cont'd)

    Disclaimer (Cont’d) Industry Information We obtained the industry, market and competitive position data used throughout this Presentation from our own internal estimates and research, as well as from independent industry publications, government publications and other published independent sources.

  4. Slide 4: Innovex is Building a Unique Energy Industrial Platform

    Innovex is Building a Unique Energy Industrial Platform Our VISION is to create the global leader in well-centric products and technologies through organic, customer-linked innovations and disciplined acquisitions to drive returns for our investors 1 Curated Portfolio of Complementary, Mission Criti

  5. Slide 5: Citadel Acquisition Fits Innovex M&A Framework

    Citadel Acquisition Fits Innovex M&A Framework We take a disciplined and contrarian approach Qualitative Framework Quantitative Framework Big-Impact / Small-Ticket  Accretive on Key Metrics  Customer-Linked Innovation  Clear Path to Strong ROIC  Opportunity to apply No Barriers culture  Capital

  6. Slide 6: Innovex Acquires Citadel

    Innovex Acquires Citadel Acquires Citadel in all-cash transaction Transaction Highlights  Strong margins, free cash flow and returns on capital  Blue-chip customer base with minimal overlap Key Transaction Metrics ($ in millions) Citadel LTM Adj. EBITDA1 $18.5  Leverages Innovex’s global platform

  7. Slide 7: Citadel is a Leader in US Land with International Growth Opportunities

    Citadel is a Leader in US Land with International Growth Opportunities Innovex Platform will accelerate growth domestically and internationally Citadel Key Characteristics Key Product Families • Strong and growing position in US Land Float Equipment Cementing Equipment • Large, untapped internationa

  8. Slide 8: Citadel provides a complementary set of high-performance technologies

    Citadel provides a complementary set of high-performance technologies Represents ~2%1 of the cost of an average North American land well Our Onshore Wellbore Complementary Business Model  Big Impact, Small Ticket Wellhead Penetrator  Single use / consumable products Products provided by both:  Du

  9. Slide 9: Appendix: GAAP Reconciliations

    Appendix: GAAP Reconciliations 9

  10. Slide 10: Legacy Standalone Citadel Reconciliation to Non-GAAP Metrics

    Legacy Standalone Citadel Reconciliation to Non-GAAP Metrics Trailing Twelve Month Net Income to Adjusted EBITDA as of 3/31/2025 LTM ($ in millions) (as of Mar-25) Revenue $70 Net Income $14 (+) Net Interest Expense (0) (+) Income Tax Provision 0 (+) Depreciation and Amortization Expense 3 (-) Other

  11. Slide 11: Legacy Standalone Citadel Reconciliation to Non-GAAP Metrics

    Legacy Standalone Citadel Reconciliation to Non-GAAP Metrics Trailing Twelve Month Net Income to Adjusted EBITDA as of 4/30/2025 LTM ($ in millions) (as of Apr-25) Revenue $72 Net Income $15 (+) Net Interest Expense 1 (+) Income Tax Provision 0 (+) Depreciation and Amortization Expense 3 (-) Other E

  12. Slide 12: Legacy Standalone Citadel Reconciliation to Non-GAAP Metrics

    Legacy Standalone Citadel Reconciliation to Non-GAAP Metrics Trailing Twelve Month Free Cash Flow as of 4/30/2025 LTM ($ in millions) (as of Apr-25) Cash Flow from Operations $13 (-) Capital Expenditures (3) Free Cash Flow(1) $9 Note: Figures shown above reflect unaudited results. A quality of earni

  13. Slide 13: Pro Forma Reconciliation to Non-GAAP Metrics

    Pro Forma Reconciliation to Non-GAAP Metrics Pro Forma Net Debt / LTM Adj. EBITDA ($ in millions) As of 03/31/25 Innovex Net Debt $(43) (-) Cash Consideration of Acquisition1 70 Pro Forma Net Debt / (Net Cash) $27 Innovex LTM Adj. EBITDA $152 Citadel LTM Adj. EBITDA 17 Pro Forma Adj. EBITDA $169 Pro

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