National Energy Services Reunited Corp · NASDAQ:NESR

National Energy Services Reunited — Peters 2020 Virtual Conference

13 slides from National Energy Services Reunited's conference presentation, Sep 17, 2020

  1. Slide 1: The National Champion of MENA

    National Energy Services Reunited Corp. The National Champion of MENA Peters 2020 Virtual Conference – September 17, 2020 Sherif Foda Chairman and Chief Executive Officer

  2. Slide 2: Safe Harbor and Other Disclaimers

    Safe Harbor and Other Disclaimers This presentation (the “Presentation”) is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any equity, debt or other financial instruments of National Energy Services Reunite

  3. Slide 3: The Fact… MENA has been and will be the most resilient energy market

    The Fact… MENA has been and will be the most resilient energy market for the years to come |3 Strictly confidential – Do not reproduce or distribute Copyright NESR Corp.

  4. Slide 4: Middle East – Best positioned in the post COVID world

    Middle East – Best positioned in the post COVID world OPEC will supply the majority of 2021 supply growth ...and still have spare capacity to limit US shale/offshore World Crude Oil Production Change (mbd) OPEC Surplus Oil Production Capacity (mbl) 4.0 7.0 3.2 3.0 2.5 6.0 2.0 1.5 1.0 0.7 5.0 0.3 0.3

  5. Slide 5: The Opportunity… NESR - The Deep Undervalued Growth Story

    The Opportunity … NESR - The Deep Undervalued Growth Story |5 Strictly confidential – Do not reproduce or distribute Copyright NESR Corp.

  6. Slide 6: SAPESCO Acquisition complete and more to come

    SAPESCO Acquisition complete and more to come  Oldest oilfield service company in the region  Transaction effective from June 1, 2020  Egypt ~ 1 B$ OFS Market, NESR does not exist in Egypt  Addition of Industrial Cleaning (pipeline maintenance) product line which can be expanded to other NESR ma

  7. Slide 7: Exceptional and Unmatched Growth to continue

    Exceptional and Unmatched Growth to continue Growth in the On target to worst 931 surpass the +1B$ downturn in 25 years mark 811 658 553 458 415 431 369 328 242 207 186 147 162 129 141 104 111 2013 2014 2015 2016 2017 2018 2019 2020 2021 Revenue ($mm) Analyst Analyst Adjusted EBITDA ($mm) |7 NPS fin

  8. Slide 8: and Significant Upside Potential

    and Significant Upside Potential TEV/EBITDA 2020E TEV/EBITDA 2021E (26%) (48%) (24%) (42%) (28%) 23% YOY Rev Growth* (5%) (0%) (7%) (24%) (5%) 16% 15.3x 15.4x 14.8x 13.3x Significant Significant valuation valuation 9.2x 9.2x 8.4x upside 8.2x upside potential potential 6.2x 6.7x 4.6x 3.9x Equipment N

  9. Slide 9: NESR beats the Big 3 in every metric…!

    NESR beats the Big 3 in every metric…!  Superior projected financial performance 2019 – 2021 Revenue Change % 2021 EBITDA % 2021 Net Margin % 42.4% 26.0% 8.0% 18.7% 16.0% 11.5% 4.5% 3.3% 2.4% -16.7% -33.1% -40.8% OFS 1 OFS 2 OFS 3 NESR OFS 1 OFS 2 OFS 3 NESR OFS 1 OFS 2 OFS 3 NESR  Significant ups

  10. Slide 10: NESR is the First NASDAQ listed MENA Co

    NESR is the First NASDAQ listed MENA Co Peters 2020 Virtual Conference – September 17, 2020

  11. Slide 11: 2020 Adjusted EBITDA by Quarter

    2020 Adjusted EBITDA by Quarter (Non-GAAP reconciliation) NESR ($million) Q1 2020 Q2 2020 Revenue 199.3 203.2 Net income (loss) 11.4 10.5 Depreciation and amortization 30.8 32.5 Finance Cost 4.5 4.2 Tax 2.5 2.8 Transaction, Integration & Start-Up Costs 1.7 1.8 Other Provisions - - Adjusted EBITDA 50

  12. Slide 12: 2018/2019 Adjusted EBITDA

    2018/2019 Adjusted EBITDA (Non-GAAP reconciliation) NESR ($million) 2019 2018 (1) Revenue 658.4 552.5 Net income (loss) 39.4 39.5 Depreciation and amortization 93.8 69.5 Finance Cost 19.0 19.5 Tax 13.1 13.1 Charges & credits 20.7 20.1 Adjusted EBITDA 186.0 161.7 | 12 (1) Successor and Predecessor Co

  13. Slide 13: Historical Adjusted EBITDA

    Historical Adjusted EBITDA (Non-GAAP reconciliation) Adjusted EBITDA NPS financial results for 2013, 2014 are prepared under IFRS, and 2015-2017 are prepared under US GAAP; GES 2013-2017 financial results are prepared under IFRS. EBITDA is adjusted for impairment, which is not recognized as part of

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