Weatherford International Plc · NASDAQ:WFRD

Weatherford International — Piper Sandler Conference (March 2022)

23 slides from Weatherford International's conference presentation, Mar 22, 2022

  1. Slide 1: Piper Sandler Conference

    Piper Sandler Conference WEATHERFORD INTERNATIONAL PLC MARCH 22nd, 2022

  2. Slide 2: Disclaimer

    Weatherford International 2 DISCLAIMER This presentation contains projections and forward-looking statements concerning, among other things, the Company’s quarterly and full-year revenues, adjusted EBITDA, forecasts or expectations regarding business outlook, prospects for its operations and expecta

  3. Slide 3: Energy of Innovation

    Weatherford International 3 ENERGY OF INNOVATION [] ©2022 Weatherford International plc. All rights reserved.

  4. Slide 4: Legacy Innovation

    Weatherford International 4 LEGACY INNOVATION 1948 Initial Production of Centralizers 2015 VariForm™ Centralizers Global Leader and Innovator in Centralizers 1991 Industry’s First Dual Barrier RCD 2019 Victus™ intelligent MPD Global MPD Leader with Field Proven Portfolio 1994 World’s First Remotely

  5. Slide 5: 2021 Significant Milestones

    Weatherford International 5 Listing on Credit Rating >$4B in commercial Leverage NASDAQ ▪ S&P upgrade wins improvement ▪ B2/B- Moody’s/S&P ▪ $200M Debt Repayment ▪ 0.6x improvement in Net Debt/EBITDA 2021 SIGNIFICANT MILESTONES Refinancing Reporting Margin Free Cash Flow Transactions Re-Segmentation

  6. Slide 6: Evolution: Indexed Price Performance

    Weatherford International 6 EVOLUTION October 20, 2021 Redemption of $200 Since listing million of 11% senior Since emergence Since listing(b) notes 160.0 December 20, 2019: announcement(a) Emerged from WFRD 36.5% 204.0% 161.0% bankruptcy 140.0 September 20, 2021 June 2, 2021 $500mm senior NASDAQ tr

  7. Slide 7: Our Segments

    Weatherford International 7 OUR SEGMENTS FY’21: Rev $3.6B / Adj. EBITDA[1] margin: 16% Drilling and Well Construction and Completions Production and Evaluation (DRE) (WCC) Intervention (PRI) FY’21: Rev $1.1B / Segment Adj. EBITDA[2] margin: 17% FY’21: Rev $1.4B / Segment Adj. EBITDA margin: 19% FY’2

  8. Slide 8: Portfolio Segmentation

    Weatherford International 8 PORTFOLIO SEGMENTATION Growth Value Drivers Weatherford Advantage Market Size Accelerators ▪ Drilling and Workover Rig count ▪ Global leader in Managed Pressure Drilling, High Drilling and ▪ Higher footage drilled/well and more complex Temperature Drilling Evaluation envi

  9. Slide 9: Leadership Position Across Well Lifecycle

    Weatherford International 9 LEADERSHIP POSITION ACROSS WELL LIFECYCLE WFRD OFFERINGS WFRD PEER 1 PEER 2 PEER 3 TECHNOLOGY Managed Pressure Drilling Victus™ High Temp LWD, Drilling Services Magnus™ Tubular Running Services Vero™ Fishing & Re-Entry QuickCut™, Alpha Production and Intervention V0 stage

  10. Slide 10: Innovation & Technology Leadership in Digital Offerings

    Weatherford International 10 INNOVATION & TECHNOLOGY LEADERSHIP IN DIGITAL OFFERINGS Victus Magnus TR1P Vero ForeSite Sense ForeSite Flow Digitally Enabled Offerings Intelligent MPD Rotary Steerable Remote activated single Automated Reservoir Real-time System trip completion system Connection Integr

  11. Slide 11: Energy Transition

    Weatherford International 11 ENERGY TRANSITION ESG PILLARS FOR SUCCESS ESG WEATHERFORD ENERGY TRANSITION REPORTING DECARBONIZATION OFFERINGS ▪ Environmental, Social, Governance, ▪ Carbon Footprint ▪ Geothermal Financial Disclosures ▪ Supply Chain Optimization ▪ Carbon Capture, Utilization and ▪ Iden

  12. Slide 12: Geothermal Digital Technology Sessions | Challenge Accepted

    GEOTHERMAL DIGITAL TECHNOLOGY SESSIONS | CHALLENGE ACCEPTED 12 ©2022 ©2022 Weatherford Weatherford International International plc. plc. All rights All rights reserved. reserved.

  13. Slide 13: Strategic Vectors, Focus Areas, Goal

    Weatherford International 13 STRATEGIC 2022 VECTORS FOCUS AREAS GOAL Fulfillment Technology Differentiation Directed Growth Sustainable Profitability Digital Excellence in Transformation Execution Positive Free Cash Flow Simplification ESG & Energy Transition ©2022 Weatherford International plc. All

  14. Slide 14: Revenue Mix

    Weatherford International 14 REVENUE MIX Total Revenue FY’21: $3,645M SEGMENTS GEOGRAPHY PRODUCT MIX Drilling, Evaluation North America Product Revenue & Intervention 25% 35% 29% Well Construction Latin America Service Revenue & Completions 22% 65% 37% MENA Production & Intervention 33% 31% Europe,

  15. Slide 15: FY'21 Free Cash Flow Generation

    Weatherford International 15 FY’21 FREE CASH FLOW GENERATION Maintaining Capital Discipline while FY’21 Adjusted EBITDA margins of 16% delivering on Free Cash Flow Improved working capital management has been a positive source $278M $571M 2.3% Capex reduction by increasing asset optimization Free Ca

  16. Slide 16: Liquidity: Full Year Bridge

    Weatherford International 16 LIQUIDITY: FULL YEAR BRIDGE ($ in millions) 2021 CASH FLOW BRIDGE Unlevered FCF: $547 million $2,240 $571 $32 $121 $1,960 $1,680 $1,285 ($85) ($62) $1,400 ($30) $1,113 ($269) $1,120 $840 ($361) ($89) $560 $280 -- Total Cash Adj. Working Capital Capex Taxes Severance & Re

  17. Slide 17: Significant Multiple Expansion Opportunity

    Weatherford International 17 SIGNIFICANT MULTIPLE EXPANSION OPPORTUNITY Operating Performance EV/EBITDA (2022E) [1] ▪ Expanding margins thru process improvements 16.0x ▪ Constructive energy services dynamics 14.1x 14.0x ▪ Technologically differentiated portfolio offerings 11.8x 12.0x ▪ Capable and p

  18. Slide 18: Appendix

    Weatherford International APPENDIX ©2022 Weatherford International plc. All rights reserved.

  19. Slide 19: Appendix A

    Weatherford International 19 APPENDIX A ($ in millions) Reconciliation of GAAP to Non-GAAP Net Loss and Diluted Net Loss Per Share (Unaudited) Year Ended 12/31/21 12/31/20 12/31/2019 [1] Net Income (Loss) Attributable to Weatherford: GAAP Net Income (Loss) $ (450) $ (1,921) $ 3,635 Non-GAAP Adjustme

  20. Slide 20: Appendix B

    Weatherford International 20 APPENDIX B ($ in millions) Reconciliation of GAAP to Non-GAAP EBITDA (Unaudited) Year Ended 12/31/21 12/31/20 12/31/2019 [3] Net Income (Loss) Attributable to Weatherford $ (450) $ (1,921) $ 3,635 Net Income Attributable to Noncontrolling Interests 21 22 25 Net Income (L

  21. Slide 21: Appendix C

    Weatherford International 21 APPENDIX C ($ in millions) Reconciliation of Cash Flows from Operating Activities to Free Cash Flow (Unaudited) Year Ended 12/31/21 12/31/20 12/31/2019 [2] Free Cash Flow [1]: Cash Flows Provided by Operating Activities $ 322 $ 210 $ (686) Capital Expenditures for Proper

  22. Slide 22: Appendix D

    Weatherford International 22 APPENDIX D ($ in millions) Adjusted EBITDA to Unlevered Free Cash Flow and Free Cash Flow (Unaudited) Year Ended 12/31/21 12/31/20 12/31/2019 [3] Adjusted EBITDA $ 571 $ 459 $ 591 Cash From (Used) for Working Capital 32 192 (447) Capital Expenditures for Property, Plant

  23. Slide 23: Thank You

    FOR FURTHER COMPANY INFORMATION WE INVITE YOU TO VISIT THANK Weatherford.com Linkedin.com/Company/Weatherford YOU Facebook.com/Weatherford @WeatherfordCorp YouTube.com/Weatherford @WeatherfordCorp

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