Energizing the World Soberly Chris Wright, Chairman & CEO Liberty Energy (LBRT) Piper Sandler 24th Annual Energy Conference March 19, 2024
Important Disclosures FORWARD LOOKING STATEMENTS The information in this presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities…
Creating Value with a Leading Completions and Power Solutions Portfolio Premier Multi-Basin Platform Operations in top U.S. and Canadian resource plays 4th Largest Built to Deliver Balanced exposure to customers with oil and…
A Track Record of Attractive Returns Liberty Cash Return on Capital Invested(1) (CROCI) 47% 44% 44% Superior 50% CROCI Higher than the S&P 500(2) 34% 31% 29% 21% 24% LBRT Average(2) 19% 14% 16% S&P 500 Average(2)…
Competitive Advantages Deliver Higher Earnings Power Liberty Service Suite Additions Since 2020 HYDRAULIC FRACTURING EQUIPMENT DESIGN & MFG WIRELINE PROPPANT HANDLING digiTECHNOLOGIESSM Engineering & Execution Liberty Advanced…
Next Generation Power and Technology Fueling Libertys Growth Strategy Transition to Natural Gas Fuel from Fuel and Logistics to Power Production and Technology Liberty fleet transition to premium digiFleet and dual fuel technologies…
Creating Significant Value for Shareholders Delivering on Our Return of Capital Program Opportunistic Share Repurchases Cumulative Uses of Excess Cash Accelerates Per Share Growth Since Covid Outstanding shares (MM) (MM) 187 506…
Global Energy Demand on the Rise: Investing in Next Generation Opportunities 8
An Unrivaled Energy Service Provider: Technology, Integration & Scale A New Era of Leadership in a Structurally Changed Industry 24% Return Technology Transition Vertical Integration Higher Returns 4th Largest 12-Year Average…
BHL 2024 REPORT BHL 2024 Summary Last one to two centuries have seen tremendous progress in the human condition due to the rise of hydrocarbons and human liberty. Shale Revolution has turbocharged hydrocarbon progress and…
Energy is the Agent of Change
Energy is the Agent of Change
Energy is the Agent of Change
BHL 2024 REPORT Key Takeaways Energy is essential to life and the world Hydrocarbons supply more than 80% of 1 4 global energy and thousands of critical needs more of it materials and products. The modern world today is powered…
BHL 2024 REPORT Key Takeaways Global demand for oil, natural gas, and Making energy more expensive or 6 8 unreliable compromises people, coal are all at record levels and rising no energy transition has begun. national security,…
ENERGY Energy vs. Life Expectancy Life expectancy experiences a remarkable surge, coinciding with the rapid and overwhelming increase in energy supply upon the arrival of fossil fuels. Source: Smil, Vaclav, 2017. Energy Institute -…
ENERGY Global Uses of Energy Only 20% of global energy consumption is in the form of electricity Source: IEA and Bijou Insights 17
ENERGY Global Oil Demand Lucky one billion consume 13 barrels of oil per year per person. Other seven billion consume only 3 barrels of oil per year per person. Source: Energy Institute Statistical Review of World Energy, and Bijou…
ENERGY How the U.S. is Energized Today Source: IEA and Bijou Insights 19
ENERGY Energy Transition In the last 12 years, natural gas, oil, and coal contributed the most additional energy, providing 76% of the growth in energy consumption. Source: Energy Institute - Statistical Review of World Energy…
ENERGY Surging Shale Energy U.S. energy production has soared in the last 12 years, primarily due to growth in oil and natural gas. Source: Energy Institute - Statistical Review of World Energy (2023), Bijou Insights 21
ENERGY & THE MODERN WORLD Impact of New Energies Source: Bijou Insights analysis of data from Energy Institute - Statistical Review of World Energy (2023), EIA 22
ENERGY & THE MODERN WORLD Impact of New Energies Source: Bijou Insights analysis of data from Energy Institute - Statistical Review of World Energy (2023), EIA 23
ENERGY & THE MODERN WORLD Impact of New Energies Source: Bijou Insights analysis of data from Energy Institute - Statistical Review of World Energy (2023), EIA 24
ENERGY & THE MODERN WORLD Impact of New Energies Impact of New Energies Source: Bijou Insights analysis of data from Energy Institute - Statistical Review of World Energy (2023), EIA 25
ENERGY & THE MODERN WORLD Impact of New Energies Source: Bijou Insights analysis of data from Energy Institute - Statistical Review of World Energy (2023), EIA 26
ENERGY & THE MODERN WORLD Impact of New Energies Energy produced from U.S. shale is equivalent to 58% of U.S. primary energy demand and nearly 10% of global primary energy demand. Source: Bijou Insights analysis of data from…
ENERGY Health & Hydrocarbons Higher oil and natural gas consumption leads to cleaner air. Source: Bijou Insights analysis of data from the WHO Global Health Observatory data repository and EIA. 28
CLIMATE CHANGE Atmospheric Carbon Dioxide The fossil-powered global economic growth since World War II has driven a steady climb in atmospheric CO2 concentration to slightly above 0.04%. Source: Scripps Institution of Oceanography…
CLIMATE CHANGE Extreme Weather & Global GDP Damages from extreme weather events as a percentage of global GDP have declined by roughly 20% over the last three decades. Source: Roger Pielke, Jr., Munch RE, 2023, NOAA National…
Large Downward Trend of CLIMATE CHANGE Severe Weather Deaths Source: EM-DAT: The International Disasters Database. EM-DAT, Centre for Research on the Epidemiology of Disasters (CRED). ; Lomborg, Bjorn. Welfare in the 21st…
Energy Access is Illuminating 32
Energy Access is Green 33
Source: Rosling, Hans, et al. Factfulness. Rizzoli, 2018. 34
ENERGY POVERTY Energy Demand & Child Malnutrition Source: Per Capita Electricity Consumption. Our World in Data, 2022, U.S. Energy Information Source: Our World in Data, 2022, UNICEF, World Health Organization and World Bank…
ENERGY POVERTY Clean Cooking Access Almost one-third of humanity still lack access to clean cooking fuel, including 82% in Sub- Saharan Africa and nearly 30% of Indians. Source: World Bank, United Nations Sustainable Development…
INTRODUCING The Bettering Human Lives Foundation 37
Read Liberty Energys 2024 Bettering Human Lives report
Appendix A: Supplemental Materials
Reconciliation and Calculation of Non-GAAP Financial Measurements EBITDA and Adjusted EBITDA Reconciliation Year Ended December 31, 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 Net income (loss) 556 400 (187) (161)…
Reconciliation and Calculation of Non-GAAP Financial Measurements (Contd) CROCI Reconciliation (Data in MM) Year Ended December 31, 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 (1) (2) Adjusted EBITDA 1,212…
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