1Q 2022 Earnings Presentation NABORS INDUSTRIES LTD. April 28, 2022
3/31/2022 Rig Utilization and Availability U.S. LOWER-48 U.S. OFFSHORE ALASKA INTERNATIONAL TOTAL HIGH SPEC(2) RIG FLEET(1)(2) 330 111 12 16 133 RIGS ON REVENUE(1) 162 86 (3) 3 4 73 UTILIZATION AT 3/31/2022 49% 77% 25% 25% 55%…
1Q 2022 adjusted Activity improving Drilling Solutions EBITDA of 131M for U.S. Drilling growth in new Sequential products and L48 Average rig count up market penetration improvements in U.S. by almost 10 rigs Drilling and NDS 1Q22…
Five Keys to Excellence 1 2 3 4 5 Performance Resilience Technology & Progress on our Leading in excellence in leading to innovation commitment to Sustainability the Lower-48 growth in our rapidly taking de-lever and the Energy…
1 Performance Excellence In The Lower-48 Scaling up in a Robust Market L48 Drilling Revenue and Adjusted Gross Margin L48 Drilling Average Rig Count 200 90 180 80 160 70 140 60 Improving 120 Millions 50 revenue and…
Five Keys to Excellence 1 2 3 4 5 Performance Resilience Technology & Progress on our Leading in excellence in the leading to innovation commitment to Sustainability Lower-48 growth in our rapidly taking de-lever and the Energy…
2 Resilience Leading to Growth in Our International Segment Results Bolstered by Strong International Margins and Rig Counts International Adjusted Gross Margin per day Change in Average Rig Counts(1) 15,000 0% -20% 10,000…
2 Resilience Leading to Growth in Our International Segment Significant International Opportunity International Average Rig Count Potential Estimated* Growth from SANAD Alone Embarking on Newbuild Program 85 80 50 rigs over the…
Five Keys to Excellence 1 2 3 4 5 Performance Resilience Technology & Progress on our Leading in excellence in the leading to innovation commitment to Sustainability Lower-48 growth in our rapidly taking de-lever and the Energy…
3 Improving Outlook For Our Technology & Innovation Ground-Breaking and Scalable PACE-R801 Technology for the Future Successfully completed its third pad for a supermajor in the Permian Basin Nabors PACE-R801: Industrys…
3 Improving Outlook For Our Technology & Innovation NDS Capitalizing on Growing Rig Count and Higher Penetration Expanding our high-value / high-margin NDS Revenue & Adjusted Gross Margin low-capital technology services 60 55% 50…
3 Improving Outlook For Our Technology & Innovation Customer Adoption Fueling Rapid NDS Footprint Expansion NDS technology consistently adds value on both Nabors and Third-party rigs U.S. Performance Software Installs U.S.…
3 Improving Outlook For Our Technology & Innovation Smart SuiteTM Growth Trajectory Validates Customer Acceptance Third-Party SmartDRILLTM SmartDRILLTM 1800 Automation Deployment Commercialization 1600 Cumulative Number of Wells…
Five Keys to Excellence 1 2 3 4 5 Performance Resilience Technology & Progress on Leading in excellence in the leading to innovation our Sustainability Lower-48 growth in our rapidly taking commitment and the Energy International…
4 Progress on Our Commitment to Delever Significant Headway toward Financial Goals 1.65B Net Debt reduction from previous high in 1Q 2018 Net Debt 4.5 4.0 3.5 3.0 1.65B Billions 2.5 2.0 1.5 1.0 0.5 - 1Q 2Q 3Q…
4 Progress on Our Commitment to Delever Debt Maturity Profile as of 3/31/22 In 1Q 2022: Reduced the face value of outstanding notes by 208 million Warrant exercises resulted in 131 million of the 208 million total reduction Signed…
Five Keys to Excellence 1 2 3 4 5 Performance Resilience Technology & Progress on Leading in excellence in the leading to innovation our Sustainability Lower-48 growth in our rapidly taking commitment and the Energy International…
5 Leading in the Sustainability and Energy Transition Moving Forward on the Energy Transition Energy Efficiency & Emission Expansion Beyond Geothermal Development Reduction Technologies Oil & Gas Developing verticals on…
5 Leading in the Sustainability and Energy Transition Growing Commitment to Operational and Environmental Stewardship Dedicated to improving the environmental footprint of OFS Operating rigs with the environment as a stakeholder…
5 Leading in the Sustainability and Energy Nabors and its predecessor entities have Transition been continuously innovating in the energy sector for over 100 years Innovative Drilling Technologies Geothermal Reducing cost per…
Appendix N A B O R S . C O M 22
Reconciliation of Non-GAAP Financial Measures to Net Income (Loss) Adjusted EBITDA represents net income (loss) before income (loss) from discontinued operations, net of tax, income taxes, investment income (loss), interest expense,…
Reconciliation of U.S. Drilling Segment Adjusted Gross Margin to U.S. Drilling Segment Adjusted Operating Income Adjusted gross margin by segment represents Adjusted operating income (loss) plus General and administrative costs,…
Reconciliation of Net Debt to Total Debt Net debt is computed by subtracting the sum of cash, cash equivalents and short-term investments from total debt. This non-GAAP measure has limitations and therefore should not be used in…
Reconciliation of Adjusted EBITDA by Segment to Adjusted Operating Income (Loss) by Segment Adjusted EBITDA by segment represents adjusted income (loss) plus depreciation and amortization.. (In Thousands) Three Months Ended March 31,…
NABORS INDUSTRIES LTD. Contact Us: William C. Conroy, CFA VP - Corporate Development and Investor Relations William.Conroynabors.com Kara K. Peak Director - Corporate Development and Investor Relations Kara.Peaknabors.com…
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