2Q 2022 Earnings Presentation NABORS INDUSTRIES LTD. August 4, 2022
6/30/2022 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) 173 91 (3) 3 4 74 UTILIZATION AT 6/30/2022 52% 82% 25% 25% 56%…
2Q 2022 adjusted Improving liquidity Activity improving EBITDA of 158M and leverage for U.S. Drilling Strong improvement in Reduced net debt by Average rig count up all segments 33M in 2Q22 by almost 6 Revenue growth of 11% Adjusted…
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 L48 Drilling Adjusted Gross Margin Average Rig Count 250 100 90 200 80 70 Improving 150 60 revenue and margins 50 on growing rig…
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 Growing Rig Counts International Drilling Revenue International Drilling and Adjusted Gross Margin Average Rig Count…
2 Resilience Leading to Growth in Our International Segment Significant International Opportunity International average rig count potential growth* from SANAD newbuilds 85 Embarking on Newbuild Program 80 50 rigs over 10 years,…
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 NDS Capitalizing on Growing Rig Count and Higher Penetration Gross margin % of 52% in 2Q 2022, an all time high Expanding our high-value / high-margin NDS Revenue and Adjusted…
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 Significantly Average Feet per Day Improving Performance 2,000 +28% Average Feet per Day 1,500 SmartNAV 1,000 Automated directional guidance Case…
3 Improving Outlook For Our Technology & Innovation Smart SuiteTM Growth Trajectory Validates Customer Acceptance 2000 Third-Party SmartDRILLTM SmartDRILLTM 1800 Automation Deployment Cumulative Number of Wells Drilled…
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 De-lever Significant Headway toward Financial Goals 1.7B Net Debt(1) reduction from previous high in 1Q 2018 Net Debt 4.0 3.5 3.0 1.7B 2.5 Billions 2.0 1.5 1.0 0.5 - 1Q 2Q 3Q 4Q…
4 Progress on Our Commitment to De-lever Debt Maturity Profile as of 6/30/22 In 2Q 2022: Reduced outstanding notes by 25M in face value Undrawn 350M credit facility; cash and STI of 418M 251M in maturities through 2024 1,000…
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 June 30,…
Reconciliation of Adjusted Free Cash Flow to Net Cash Provided by Operating Activities Adjusted free cash flow represents net cash provided by operating activities less cash used for capital expenditures, net of proceeds from sales of…
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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