Weatherford International Plc · NASDAQ:WFRD

Weatherford International — Debt Investor Presentation (August 2020)

19 slides from Weatherford International's debt investor presentation, Aug 5, 2020

1. Slide 1: Weatherford Noteholder Discussion Materials

   Exhibit 99.3 WEATHERFORD NOTEHOLDER DISCUSSION MATERIALS Houston, TX July 29, 2020

2. Slide 2: Disclaimer

   2 DISCLAIMER This presentation has been prepared for informational and background purposes only and the information contained herein (unless otherwise indicated) has been provided by Weatherford International (“Weatherford” or the “Company”). It does not constitute or form part of, and should not be

3. Slide 3: Disclaimer (Cont'd)

   3 DISCLAIMER (CONT’D) No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information contained herein or any oral information provided in connection herewith, and no reliance should be placed on it. None of the Company or any o

4. Slide 4: Today's Speakers

   4 TODAY’S SPEAKERS Karl Blanchard Christian Garcia Mark Rothleitner Interim CEO and COO CFO VP, Treasurer ©2020 Weatherford International plc. All rights reserved.

5. Slide 5: Executive Summary

   5 EXECUTIVE SUMMARY ©2020 Weatherford International plc. All rights reserved.

6. Slide 6: Executive Summary

   6 EXECUTIVE SUMMARY Weatherford is seeking to raise capital to refinance its credit facilities and restore liquidity to allow it to execute on its business plan in the current environment . Weatherford has taken aggressive steps to address the unprecedented market challenges brought on by COVID-19 –

7. Slide 7: Executive Summary (Cont'd)

   7 EXECUTIVE SUMMARY (CONT’D) . Despite the significant self-help actions undertaken by Management, the Company proactively sought covenant relief under its ABL and LC facilities given the unprecedented COVID-19 pandemic – International franchise proving more resilient but borrowing base weighted tow

8. Slide 8: Market Update

   8 MARKET UPDATE ©2020 Weatherford International plc. All rights reserved.

9. Slide 9: Latest Market Developments

   9 LATEST MARKET DEVELOPMENTS . While market fundamentals remain challenged, there is optimism that the worst may be over – Concerns around storage capacity have abated and, while inventories remain high versus historical levels, there is no longer talk of tank tops being reached – US production shut

10. Slide 10: International Activity

    10 INTERNATIONAL ACTIVITY OPEC+ production cuts expected to ease in August, affecting global activity levels and pace of recovery • Financially vulnerable, Offshore drillers outlook becoming more uncertain due to current project delays and cancellations LAM becoming COVID-19 epicenter which may cont

11. Slide 11: Significant Self-Help Measures

    11 SIGNIFICANT SELF-HELP MEASURES The table below summarizes some of the steps Weatherford has proactively taken to address the price war and pandemic including realizing $650 million in cost savings in 2020E (~$800 million annualized) Global Organizational 1 Personnel 2 3 Manufacturing & 4 5 Intern

12. Slide 12: Cost Savings Summary

    12 COST SAVINGS SUMMARY ($ in millions) Cost Savings Summary Commentary $802 million $95 Supply Chain % of total • 76% of 2020 cost savings are headcount reduction-related $650 million $88 Other Personnel 14% Actions $88 • Planned headcount reductions across the organization 10% $68 • To date, the C

13. Slide 13: Q2'20 Preliminary Results and Latest Outlook

    13 Q2’20 PRELIMINARY RESULTS AND LATEST OUTLOOK ©2020 Weatherford International plc. All rights reserved.

14. Slide 14: Q2'20 Preliminary Results – Consolidated

    14 Q2’20 PRELIMINARY RESULTS – CONSOLIDATED ($ in millions) Revenue Adjusted EBITDA Free Cash Flow $1,309 Q2'20E Q2'19 Q1'20 $1,215 $178 ($2) ($2) $129 $821 $79 ($265) Q2'20E Q2'19 Q1'20 Q2'20E Q2'19 Q1'20 Adj. EBITDA 10% 10% 15% Margin Revenue - Commentary Adjusted EBITDA - Commentary Free Cash Flo

15. Slide 15: Q2'20 Preliminary Results – Regional Breakdown

    15 Q2’20 PRELIMINARY RESULTS – REGIONAL BREAKDOWN ($ in millions) Western Hemisphere Revenue Eastern Hemisphere Revenue North America Latin America Europe & Africa Middle East & Asia $420 $403 $341 $299 $247 $228 $224 $362 $170 $172 $138 $341 Q2'20E Q2'19 Q1'20 Q2'20E Q2'19 Q1'20 Q2'20E Q2'19 Q1'20

16. Slide 16: Recovery Toward Latter Half of 2021

    16 RECOVERY TOWARD LATTER HALF OF 2021 EIA predicts inventories to decline throughout 2021 as consumption recovers faster than production, translating into oil prices rising faster than current futures . If underinvestment persists, likely price recovery in 2H’21 and into 2022 World Liquid Fuels Pro

17. Slide 17: FY'20 & FY'21 Guidance Commentary

    17 FY’20 & FY’21 GUIDANCE COMMENTARY 2020 2021 Revenue • Overall, we expect the Q3/Q4 revenues to be lower by single digit percentage from Q2 levels. • Expect that North America revenues decline by low-double digit percentage Q4 will benefit from year-end sales but expect to be more muted this year

18. Slide 18: Appendix

    APPENDIX Weatherford

19. Slide 19: Asset Information

    ASSET INFORMATION Assets defined as gross book values of accounts receivable and inventory, and net book value of property, plant, and equipment, each at 6/30/2020: 1. Aggregate value of loan party Assets: $2.1 billion 2. Aggregate value of material non-loan party Assets: $0.9 billion 3. Aggregate v

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