Weatherford International Plc · NASDAQ:WFRD

Weatherford International — Q4 2024 Earnings Presentation

34 slides from Weatherford International's earnings presentation, Feb 6, 2025

  1. Slide 1: Investor Presentation Q4'24

    INVESTOR PRESENTATION Q4’24 WEATHERFORD INTERNATIONAL PLC ©2025 Weatherford International plc. All rights reserved.

  2. Slide 2: Disclaimer

    Weatherford International Plc. 2 DISCLAIMER This presentation contains projections and forward-looking statements concerning, among other things, the Company’s quarterly and full-year revenues, adjusted EBITDA*, adjusted EBITDA margin*, adjusted free cash flow*, net leverage*, shareholder return pro

  3. Slide 3: Q4'24 Financial Results - Highlights

    3 Weatherford International Plc. Q4’24 FINANCIAL RESULTS - HIGHLIGHTS NASDAQ: WFRD ABOUT WEATHERFORD FINANCIAL HIGHLIGHTS • 75 Countries & 330 Locations • Q4’24 Operating Cash Flow of REVENUE • ~19,000 Team Members with >110 $249M & Adj. Free Cash Flow* nationalities of $162M 5% QoQ • ~81% Internati

  4. Slide 4: 2024 Performance

    4 Weatherford International Plc. 2024 PERFORMANCE FULL YEAR 2024 PERFORMANCE SNAPSHOT REVENUE ADJ. EBITDA* ADJ. EBITDA MARGIN* ADJ. FREE CASH FLOW* OPERATING INCOME NET INCOME $5,513M $1,382M 25.1% $524M $938M $506M 7% YoY 17% YoY 197 bps YoY 37.9% Conversion[2] 14% YoY 21% YoY 5 consecutive years o

  5. Slide 5: Shareholder Return Update

    5 Weatherford International Plc. SHAREHOLDER RETURN UPDATE ©2025 Weatherford International plc. All rights reserved.

  6. Slide 6: Robust Balance Sheet & Liquidity

    6 WEATHERFORD ROBUST BALANCE SHEET & LIQUIDITY Total Liquidity Cash Balance Net Leverage* $1.3 billion $975 million <0.5x Unrestricted Cash & Cash Net Debt / TTM Credit Facility & Restricted Cash Adj. EBITDA* Revolving Credit Debt Reduction O/S Maturities Facility (RCF) $720 million ~$1 billion <$1.

  7. Slide 7: Capital Allocation Framework

    7 WEATHERFORD CAPITAL ALLOCATION FRAMEWORK 1 2 BUSINESS 3 4 5 BALANCE SHEET INVESTMENT M&A DIVIDENDS BUYBACKS ▪ Through Cycle Resiliency ▪ Capex: 3-5% of ▪ Disciplined Approach ▪ Annual Dividend at ▪ $500M Share ▪ Maintain ~$1B Liquidity Revenues ▪ Strategic Advantage $1.00/Share, Paid Repurchase ▪

  8. Slide 8: Q4'24 Segment Overview

    8 Weatherford International Plc. Q4’24 SEGMENT OVERVIEW ©2025 Weatherford International plc. All rights reserved.

  9. Slide 9: Drilling & Evaluation (DRE)

    9 Weatherford International Plc. Q4’24 Revenue Other 5% Drilling Differentiated & Evaluation (DRE) PRI Position DRE: 27% MPD* #1 Mkt Leader Provides reservoir access and Sub-Surface Evaluation Well Construction Drilling Services High Temp Q4’24 DRE Revenue Performance: & Completions WCC 38% Openhole

  10. Slide 10: Well Construction & Completions (WCC)

    10 Weatherford International Plc. Differentiated Q4’24 Position Revenue Tubular Running Drilling Other 5% #1 Mkt Leader & Evaluation Service (TRS) WCC: PRI Provides integrity throughout the Well Construction & 27% Cementation Well Integrity, Stage Well Construction Products Cementing Leader Producti

  11. Slide 11: Production & Intervention (PRI)

    Weatherford International Plc. Differentiated 11 Q4’24 Position Revenue Fishing and Other 5% ISDT* Re-Entry Leader Drilling PRI & Evaluation 27% Artificial Lift Large Installed Base with PRI: High Performance Units Maximizes Asset Performance, Reservoir Performance and Well Construction Recovery, an

  12. Slide 12: Strategic Priorities Update

    12 Weatherford International Plc. STRATEGIC PRIORITIES UPDATE ©2025 Weatherford International plc. All rights reserved.

  13. Slide 13: Strategic Priorities

    13 Weatherford International Plc. Strategic Priorities FINANCIAL PERFORMANCE ▪ ▪ 2024 Adj. EBITDA Margin* % expansion of 197 basis points YoY 2024 ROIC* of 26.2% and ROA[1] of 9.9% ▪ Successful deployment of first Reclaim Dual Barrier Plug and Abandon system in US land CUSTOMER operations, which sig

  14. Slide 14: Consolidated Revenue Performance: Q4'24

    14 Weatherford International Plc. CONSOLIDATED REVENUE PERFORMANCE: Q4’24 Revenue & Adj. EBITDA Margins* Q4’24 Geography Revenue Change (%) Seq. (%) YoY (%) 23.6% 25.2% 24.3% 5% $1,500 $1,400 0% 0% $1,300 (1%) $1,200 (2%) $1,362 $1,409 $1,100 $1,341 (7%) (9%) $1,000 (13%) $900 Q4'23 Q3'24 Q4'24 NAM

  15. Slide 15: Consolidated Revenue Performance: 2024

    15 Weatherford International Plc. CONSOLIDATED REVENUE PERFORMANCE: 2024 Revenue & Adj. EBITDA Margins* 2024 Geography Revenue Change (%) YoY (%) 18.9% 23.1% 25.1% 17% $5,135 $5,513 10% $4,331 0% (2%) 2022 2023 2024 NAM LAM MENA ESSR Revenue ($ million) Adj. EBITDA margins (%) 2024 Segment Revenue C

  16. Slide 16: Consolidated Financial Summary

    16 Weatherford International Plc. CONSOLIDATED FINANCIAL SUMMARY ($ in millions, except per share data) INCOME STATEMENT Q4’24 Δ Seq. Δ YoY 2024 Δ YoY Services Revenue $797 (8%) (5%) $3,393 7% ▪ Revenue: 2% YoY decrease in Products Revenue $544 1% 4% $2,120 8% Q4’24 led by lower PRI Total Revenues $

  17. Slide 17: Drilling & Evaluation: Q4'24

    17 Weatherford International Plc. DRILLING & EVALUATION: Q4’24 ($ in Millions) Q4’24 Q3’24 Q4’23 Seq (%) YoY (%) Revenue $398 $435 $382 (9%) 4% Segment Adj. EBITDA $96 $111 $97 (14%) (1%) Segment Adj. EBITDA margin (%) 24.1% 25.5% 25.4% (140 bps) (127 bps) Segment Revenue Commentary: ▪ Sequential de

  18. Slide 18: Drilling & Evaluation: 2024

    18 Weatherford International Plc. DRILLING & EVALUATION: 2024 ($ in Millions) 2024 2023 YoY (%) Revenue $1,682 $1,536 10% Segment Adj. EBITDA $467 $422 11% Segment Adj. EBITDA margin (%) 27.8% 27.5% 29 bps Segment Revenue Commentary: ▪ YoY growth of 10%, as higher Wireline and Drilling-related servi

  19. Slide 19: Well Construction & Completions: Q4'24

    19 Weatherford International Plc. WELL CONSTRUCTION & COMPLETIONS: Q4’24 ($ in Millions) Q4’24 Q3’24 Q4’23 Seq (%) YoY (%) Revenue $505 $509 $480 (1%) 5% Segment Adj. EBITDA $148 $151 $131 (2%) 13% Segment Adj. EBITDA margin (%) 29.3% 29.7% 27.3% (36 bps) 202 bps Segment Revenue Commentary: ▪ Sequen

  20. Slide 20: Well Construction & Completions: 2024

    20 Weatherford International Plc. WELL CONSTRUCTION & COMPLETIONS: 2024 ($ in Millions) 2024 2023 YoY (%) Revenue $1,976 $1,800 10% Segment Adj. EBITDA $564 $455 24% Segment Adj. EBITDA margin (%) 28.5% 25.3% 326 bps Segment Revenue Commentary: ▪ YoY growth of 10%, primarily from higher activity in

  21. Slide 21: Production & Intervention: Q4'24

    21 Weatherford International Plc. PRODUCTION & INTERVENTION: Q4’24 ($ in Millions) Q4’24 Q3’24 Q4’23 Seq (%) YoY (%) Revenue $364 $371 $386 (2%) (6%) Segment Adj. EBITDA $78 $83 $88 (6%) (11%) Segment Adj. EBITDA margin (%) 21.4% 22.4% 22.8% (94 bps) (137 bps) Segment Revenue Commentary: ▪ Sequentia

  22. Slide 22: Production & Intervention: 2024

    22 Weatherford International Plc. PRODUCTION & INTERVENTION: 2024 ($ in Millions) 2024 2023 YoY (%) Revenue $1,452 $1,472 (1%) Segment Adj. EBITDA $319 $323 (1%) Segment Adj. EBITDA margin (%) 22.0% 21.9% 3 bps Segment Revenue Commentary: ▪ YoY decline of 1%, primarily due to lower international Pre

  23. Slide 23: Cash & Capital Discipline: Full Year 2024

    23 Weatherford International Plc. CASH & CAPITAL DISCIPLINE: FULL YEAR 2024 Disciplined increased in Capex, while delivering on adj. free cash flow* ▪ Adj. NWC* as % of TTM revenue in 2024 improved by >130 bps vs. 2023 Adj. NWC*: $1,349 million 2024 Capex: $299 million Adj. FCF*: $524 million ▪ Corp

  24. Slide 24: Qualitative Outlook: Q1'25 / 2025

    24 Weatherford International Plc. QUALITATIVE OUTLOOK: Q1’25 / 2025 Q1’25 2025 REVENUES $1.17 - $1.21 Billion $5.10 - $5.35 Billion ADJUSTED $245 - $265 Million $1.20 - $1.35 Billion EBITDA* Adj. Free Cash Flow* to approximately 100 – 200 bps improvement in Adj. Free CASH FLOW break-even Cash Flow*

  25. Slide 25: Why Invest in Weatherford

    25 Weatherford International Plc. WHY INVEST IN WEATHERFORD Differentiated suite of products and services with leading technologies across 1 the portfolio 2 International and offshore stability and resilience LONG-TERM 3 Top-tier operational and financial performance SHAREHOLDER VALUE CREATION Strat

  26. Slide 26: Appendix

    26 APPENDIX ©2025 Weatherford International plc. All rights reserved.

  27. Slide 27: Appendix A

    27 Weatherford International Plc. APPENDIX A ($ in millions) Non-GAAP Financial Measures Defined (Unaudited) We report our financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, Weatherford’s management believes that certain non-GAAP financial measures (a

  28. Slide 28: Appendix B

    28 Weatherford International Plc. APPENDIX B GAAP to Non-GAAP Financial Measures Reconciled (Unaudited) Quarters Ended Year Ended 12/31/24 9/30/24 12/31/23 12/31/24 12/31/23 Revenues $ 1,341 $ 1,409 $ 1,362 5,513 5,135 Net Income Attributable to Weatherford $ 112 $ 157 $ 140 506 417 Net Income Margi

  29. Slide 29: Appendix C

    29 Weatherford International Plc. APPENDIX C ($ in millions) GAAP to Non-GAAP Financial Measures Reconciled (Unaudited) Year Ended 12/31/24 12/31/23 12/31/22 12/31/21 12/31/20 Total Current Assets $ 3,402 $ 3,345 $ 3,043 $ 2,911 $ 3,177 Total Current Liabilities 1,696 1,866 1,470 1,332 1,362 Working

  30. Slide 30: Appendix D

    30 Weatherford International Plc. APPENDIX D ($ in millions) GAAP to Non-GAAP Financial Measures Reconciled (Unaudited) 12/31/24 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 12/31/22 9/30/22 6/30/22 3/31/22 Short-term Borrowings and Current Portion of Long-term Debt $ 17 $ 21 $ 20 $ 101

  31. Slide 31: Appendix E

    31 Weatherford International Plc. APPENDIX E ($ in millions) GAAP to Non-GAAP Financial Measures Reconciled (Unaudited) Trailing Twelve Months Ending 12/31/24 9/30/24 12/31/23 Numerator Net Income Attributable to Weatherford $ 506 $ 534 $ 417 Denominator Average Total Shareholders' Equity $ 1,103 $

  32. Slide 32: Appendix F

    32 Weatherford International Plc. APPENDIX F ($ in millions) Supplemental Financial Information (Unaudited) Trailing Twelve Months Ending 12/31/24 9/30/24 12/31/23 Numerator Net Income Attributable to Weatherford $ 506 $ 534 $ 417 Denominator Average Total Assets¹ $ 5,114 $ 5,042 $ 4,894 ROA (Return

  33. Slide 33: Appendix G

    33 Weatherford International Plc. APPENDIX G ($ in millions) Supplemental Financial Information (Unaudited) Quarters Ended Certain Balance Sheet Data 12/31/24 9/30/24 12/31/23 9/30/23 12/31/22 Total Assets $ 5,159 $ 5,188 5,068 $ 4,895 $ 4,720 Current Portion of Long-term Debt 17 21 168 91 45 Long-t

  34. Slide 34: Thank You

    FOR FURTHER COMPANY INFORMATION WE INVITE YOU TO VISIT Weatherford.com Linkedin.com/Company/Weatherford THANK YOU Facebook.com/Weatherford @WeatherfordCorp YouTube.com/Weatherford @WeatherfordCorp ©2025 Weatherford International plc. All rights reserved.

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