Slide 1: SLB to Acquire Kelvion, Expanding its Role Across Data Center Infrastructure
SLB to Acquire Kelvion, Expanding its Role Across Data Center Infrastructure
Slide 2: Disclaimer
Disclaimer This presentation, as well as other statements we make, contain “forward - looking statements” terms expected, at all or in a timely manner; changing global economic and geopolitical within the meaning of the federal securities laws, which include any statements that are not conditions; t
Slide 3: Becoming an industrial technology partner to the data center industry
Becoming an industrial technology partner to the data center industry Strategic milestone Acquires Kelvion, a global provider of thermal - management and heat - exchange technologies Portfolio synergies Adds scalable, energy - efficient, and reliable thermal - management capabilities to SLB's Data C
Slide 4: Thermal management is critical to scaling AI infrastructure
Thermal management is critical to scaling AI infrastructure AI is driving a new AI is concentrating more Cooling is becoming infrastructure investment compute and heat into essential for AI cycle each rack infrastructure Creating unprecedented Managing heat is a key Bringing new capacity demand for
Slide 5: SLB Data Center Solutions business
SLB Data Center Solutions business SLB’s modular approach can reduce onsite construction complexity and accelerate time to operation by up to 40% Where we started Where we are today Where we are going Component and fabrication Integrated systems and design Industrial technology partner Delivered man
Slide 6: Kelvion broadens SLB's portfolio, creates efficiencies and integration capabilities
Pre- fabrication infrastructure Kelvion broadens SLB’s (Current SLB scope) portfolio, creates efficiencies > $700B Thermal management (Kelvion scope) and integration capabilities, 2030 data centers TAM excl. IT and Behind - the- meter power generation* G eothermal and decarbonized gas - to- power* a
Slide 7: Combination enhances portfolio to accelerate Data Center Solutions growth
Combination enhances portfolio to accelerate Data >2X Increases Data Center Solutions revenue Center Solutions growth opportunity per gigawatt of capacity delivered Expands SLB’s technology portfolio across the data center infrastructure value chain Adds thermal management into SLB’s modular infrast
Slide 8: Key transaction terms
Key transaction terms SLB will pay approximately $3.4B in cash and assume approximately $0.7B of existing debt Transaction expected to close in first half of 2027, subject to customary closing conditions and regulatory approvals 8
Slide 9: Kelvion financial profile
Kelvion financial profile ~$ 2.3 - 2.4B $ 350 - 400M ~$1.2 - 1.3B >50% Estimated total Estimated total Estimated 2026 Estimated YOY 2026 revenue 2026 adjusted EBITDA data center revenue data center revenue growth 9
Slide 10: Combined SLB financial ambition
Combined SLB Data Center Solutions financial ambition 2026 2028 Pro forma Ambition ~$2B $4.5B - $5.0B Combined pro forma 2026 Combined 2028 Data Center data center revenue Solutions revenue $120M ~$300M ~$ 700 M - $800M Annual EBITDA Combined pro forma 2026 Combined 2028 Data Center synergies by yea
Slide 11: Creating value for shareholders
Creating value for shareholders 8.5X Transaction multiple after synergies Combines two capital - light business models to capture surging data center demand Accretive to earnings per share (EPS) and free cash flow (FCF) per share in the first 12 months following closing Maintains balance sheet stren
Slide 12: Q and A
Q and A Press star followed by the number one to join the queue 12
Slide 13: Key takeaways
Key takeaways Strengthens footprint across high - growth AI infrastructure market Enhances modular data center delivery by integrating cooling Drives profitable growth by scaling across new markets and customers 13