Investor Presentation June 2020 2020 TETRA Technologies, Inc. 1
Corporate Profiles NYSE: NASDAQ: Listing and Ticker Symbol TTI CCLP Recent Share Price(1) 0.55 1.02 Market Capitalization(1) 69M 48M Enterprise Value(1,5) 277M 687M Number of Shares/ 125.9M 47.3M Units Outstanding(2)…
TETRA Technologies Business Segments Focused on high growth, higher margin segments Water & Flowback Services Completion Fluids & Products Compression Differentiated offerings Industry leaders, 30% market Wide range of…
Strategy Progress and Q1-2020 Highlights Over two years since divestiture of decommissioning segment and Maritech, the last two quarters reflect significant progress to simplify and focus TETRA in attractive market segments Q4 2019 and…
Sustainability Environmental Employees Recycle and reuse produced water Investing in career and leadership through integrated water development management solution & automation Diversity and Inclusion Committee TETRA CS Neptune…
Completion Fluids & Products 2020 TETRA Technologies, Inc. 7
TETRA Worldwide Operations North Sea & Europe Middle East Corporate Headquarters & All North America Technology Center Shale Basins Locations Manufacturing Locations Clear Brine Fluids Facilities West Africa Deep…
Diversity of Completion Fluids & Products TTM Revenue Ending Q1 2020 Only vertically integrated completion fluids provider Long-term raw material acid supply agreement to feed North Other* 35% Deepwater America chemical process…
TETRA CS Neptune Fluids Update Received prestigious E&P Special Meritorious for Engineering Award, Innovation for Drilling Fluids and Stimulation category Executed Q4-2019 deep water Gulf of Mexico project contributing to a 35%…
Completion Fluids & Products Diversified segment with the least dependency on North America shale market Revenue (M) 100 290 Key Financial Drivers 77 80 79 75 80 65 260 63 62 59 60 53 230 Q1-2020 Adjusted EBITDA margin of 28.7%…
Water & Flowback Services 2020 TETRA Technologies, Inc. 12
Water & Flowback Services Product and Focused on differentiated technologies, automation, and service delivery Service Gaining market share through integrated project offerings Offering Well positioned for growing produced water…
Integrated & Automated Water Management Solution Sourcing Poly Pipe & Pipeline Temporary Transfer Oil Recovery TETRA BlueLinxTM Recycling Automated Control System Storage Pit Lining Flowback Distribution Blending…
Innovation Leadership TETRA SteelTM 1200 BlueLinxTM Automated Leader in produced water market Control System Moved 100M bbls of produced Safer and improved service quality water in Permian in 2019, 40M bbls Entire system automation…
Water & Flowback Services Adapting to current market conditions through automation, technology & cost-cutting Revenue (M) 100 1,200 Key Financial Drivers 84 80 79 79 80 73 73 61 57 57 60 900 Able to achieve flat sequential…
Compression 2020 TETRA Technologies, Inc. 17
Compression Services Fleet Q1 2020 HP Deployed By Size 66% Utilization 94% Utilization 10% 1,000 HP 101-1,000 HP 0-100 HP 35% 55% 84% Utilization 0-100 HP 101-1000 HP 1,000 HP Deployed HP & Utilization Trends 1,100…
Evolution of Compression Fleet Compression Services Margins % Migrating Towards Larger HP Units Total HP by Category (17)% (6)% +30% (1) Improved margin strategy based on unit clusters and Focused on Permian Basin…
Growing Trend for Centralized Gas Lift U.S. Contract Compression by Application (Million HP) 14 Wellhead Gas-Lift Gathering Processing Fastest growing segment of 12 compression market 10 8 Opportunity Favorable customer…
Focused on Most Prolific Producing Basins Focused on key shale oil plays with customers with strong balance sheets 75% of horsepower located in Permian, Eagle Ford, and SCOOP/STACK 6% Bakken 6% 42% Niobrara Utica 18%…
Compression Financial Summary Short-term outlook for Compression has weakened but long-term fundamentals are intact Well positioned to capitalize on the growing compression market Revenue (M) 160 138 136 Key Financial Drivers 115…
Financial Overview 2020 TETRA Technologies, Inc. 23
Debt Profile TETRA Only CSI Compressco Only No near-term maturities No near-term maturities with minimal maintenance covenants TTI asset-based credit agreement and term 296M, 7.25% unsecured notes due Aug 2022 loan with minimal…
Appendix Reconciliation Tables 2020 TETRA Technologies, Inc. 26
Market Capitalization and Enterprise Values (thousands, except per share amounts) (thousands, except per share amounts) Market Capitalization: TTI Market Capitalization: CCLP Market price per share on 06/05/2020 0.55 Market price…
Non-GAAP Reconciliation Completion Fluids & Products - Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation '( in Millions) Q1-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Income (Loss) Before Taxes 2.4 8.7 9.5 6.2 14.6 11.3…
Non-GAAP Reconciliation TTI Consol. - Continued Operations - Adj. EBITDA and Ad. EBITDA Margin Reconciliation '( in Mil) 2016 2017 2018 2019 Income (Loss) Before Taxes (223.2) (44.0) (36.4) (144.1) Interest Income/Expense 57.4 57.2…
Non-GAAP Reconciliation TETRA only Adjusted Free Cash Flow Reconciliation From Continuing Operations (in Millions) 2019-Q1 2020-Q1 TTI Consolidated Cash from operations 7.4 22.2 Capital Expenditures, net of sales proceeds (32.0)…
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