Dnow Inc. · NYSE:DNOW
Dnow — Jefferies Industrial Conference 2025
17 slides from Dnow's conference presentation, Sep 4, 2025
Slide 1: Jefferies Industrial Conference
Jefferies Industrial Conference September 4, 2025
Slide 2: Disclosure Statement
Disclosure Statement Statements made in the course of this presentation that state the Company's or management's intentions, hopes, beliefs, expectations or predictions of the future are forward-looking statements. It is important to note that the Company's actual results could differ materially fro
Slide 3: Investment Highlights
Investment Highlights Significantly improved financial results Expanding set of solutions for energy with powerful cash generation abilities transition and industrial markets driving additional revenue diversification Improved earnings durability and working capital management driving better free Cu
Slide 4: Strategic Growth Plan to Increase Shareholder Value
Strategic Growth Plan to Increase Shareholder Value Focused on growing sustainable earnings and free cash flow through the cycle Share buyback program Inorganic Repurchased $19M in accumulation Support organic shares in 2Q25 and strategy to grow $27M YTD(1), on $160M growth through free earnings and
Slide 5: Capital Allocation Framework
Capital Allocation Framework Formidable Balance … to fund growth and capital allocation program Sheet… 1) Fund organic growth 2) Inorganic growth Working Capital Efficiency and efficient operations through acquisitions Efficient use of working capital as Working Capital needs Patient, disciplined a
Slide 6: Value-Creating Transaction for DNOW and MRC Global Shareholders
Value-Creating Creates a Premier Transaction for Energy and Industrial DNOW and MRC Solutions Provider COMBINING Shareholders Joins Highly Strengthens Global Complementary Reach in Attractive Footprints Across Key Growth Sectors Energy and Industrial Hubs in the U.S. Greatly Increases Combines and S
Slide 7: Energy and Industrial Solutions Leader Delivering Enhanced Value
Energy and Industrial Solutions Leader Delivering Enhanced Value Pro Forma Enterprise Value1 ~$1.5B ~$1.5B ~$3.0B Revenues2 ~$2.4B ~$2.9B ~$5.3B Synergies3, 4 $70M Adjusted EBITDA2, 3 $183M $181M ~$430M Adjusted EBITDA Margin2, 3 7.6% 6.1% ~8.0% Cash Flow From Operations2, 3 $201M $253M ~$500M Proje
Slide 8: Greatly Increases Scale and Scope Across Diverse Industries and Global Markets
Greatly Increases Scale and Scope Across Diverse Industries and Global Markets ~$5.3B COMBINED REVENUES Balanced Portfolio Across Attractive Industries Provides Diversification Anticipated Benefits Include: Combined Revenue by End Market1 Diversified Product & Solutions Portfolio: A broader range of
Slide 9: Combines and Enhances Complementary Product Portfolio
Combines and Enhances Complementary Product Portfolio ~$5.3B COMBINED REVENUES Enhanced Product Offering to Better Serve Customers Anticipated Benefits Include: Combined Revenue by Product1 Enhanced Servicing Capabilities: Expanded services, support and solutions tailored for complex customer requir
Slide 10: Creates Value through Cost Synergies
Creates Value through Cost Synergies Breakdown of Synergy Opportunity Estimated Run-Rate Cost Meaningful 2026E EPS Accretion¹ Savings of $70M Corporate Public $70M and IT 23% Company Systems +25% 2026E 50% $70M Operational $42M 27% and Supply Chain Expected to generate approximately $70M of annual c
Slide 11: Strong Cash Flow Generation Capabilities and Robust Balance Sheet
Strong Cash Flow Generation Capabilities and Robust Balance Sheet Provide Liquidity and Capital Allocation Flexibility Robust Balance Sheet with Ample Liquidity Estimated Pro Forma Net Leverage³ Combined Profile Underpins Rapid Deleveraging Pro Forma Liquidity1 ~$550M <0.5x <0.5 x Pro Forma Net Debt
Slide 12: Company Overview
Company Overview NYSE: DNOW Recent Quarterly Achievements and Highlights 160 2,575 $628M $51M $1.5B (1) (1,2) (3) LOCATIONS EMPLOYEES REVENUE EBITDA2 MARKET CAP Leading energy and industrial distributor Beat second quarter expectations with Delivered a company best second quarter and supply chain so
Slide 13: Providing Value-Added Solutions Across All Channels
Providing Value-Added Solutions Across All Channels Energy Customer Onsite & Process Centers Integrated Supply Solutions SuperCenter and branch network On-site model offering customizable Process, production and fluid supplying PVF and MRO products products, services and solutions to handling equipm
Slide 14: Process Solutions — An Expanding Portfolio of Solutions
Process Solutions — An Expanding Portfolio of Solutions targeting energy and industrial end-markets Integrated, reliable and sustainable solutions over the life cycle of our customers’ fluid and gas management needs Distribution & Service Fabrication Key Vendors Pump, Air and Gas compression Heavy s
Slide 15: Revenue by Reporting Segment, Channel and Product line
Revenue by Reporting Segment, Channel and Product line International Revenue by Product Line 10% 2024 Canada 11% Pipe Fittings & Revenue by Flanges Reporting Segment 17% 20% 2024 United 79% States Pumps, U.S. Process Production Solutions 26% 27% & Drilling 22% Valves U.S. Revenue by Channel 2024 15%
Slide 16: Driving Growth through Acquisitions
Driving Growth through Acquisitions Clearly defined acquisition strategy to grow earnings and free cash flow Acquire value added Leverage acquired Expand U.S. Process Target end-market solutions with sustainable product lines to gain Solutions value diversification competitive advantages organic sha
Slide 17: Investor Relations
Investor Relations Brad Wise Vice President, Digital Strategy & Investor Relations Contact email: ir@dnow.com