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Weatherford International Plc 1 Weatherford International PLC INVESTOR PRESENTATION Q4’25
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Weatherford International Plc 2 Disclaimer This presentation contains projections and forward-looking statements concerning, among other things, the Company’s quarterly and full-year revenues, adjusted EBITDA*, adjusted EBITDA margin*, adjusted free cash flow*, net leverage*, ROIC*, shareholder return program, capital allocation framework, forecasts or expectations regarding business outlook, prospects for its operations, capital expenditures, expectations regarding future financial results, and are also generally identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “outlook,” “budget,” “intend,” “strategy,” “plan,” “guidance,” “may,” “should,” “could,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions, although not all forward-looking statements contain these identifying words. Such statements are based upon the current beliefs of Weatherford’s management and are subject to significant risks, assumptions, and uncertainties. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual results may vary materially from those indicated in our forward-looking statements. Readers are cautioned that forward-looking statements are only estimates and may differ materially from actual future events or results, based on factors including but not limited to: global political, economic and market conditions, political disturbances, war or other global conflicts, terrorist attacks, public health issues such as pandemics, changes in global trade policies, tariffs and sanctions, weak local economic conditions and international currency fluctuations; general global economic repercussions related to U.S. and global inflationary pressures and potential recessionary concerns; various effects from the Russia-Ukraine conflict, conflicts in the Middle East or instability in Latin America, including, but not limited to, nationalization of assets, extended business interruptions, sanctions, treaties and regulations (including changes in the regulatory environment) imposed by various countries, associated operational and logistical challenges, and impacts to the overall global energy supply; cybersecurity issues; our ability to comply with, and respond to, climate change, environmental, social and governance and other sustainability initiatives and future legislative and regulatory measures both globally and in specific geographic regions; the price and price volatility of, and demand for, oil and natural gas; the macroeconomic outlook for the oil and gas industry; our ability to generate cash flow from operations to fund our operations; our ability to effectively and timely adapt our technology portfolio, products and services to remain competitive, and to address and participate in changes to the market demands, including for the transition to alternate sources of energy such as geothermal, carbon capture and responsible abandonment, including our digitalization efforts and our incorporation of artificial intelligence tools; increases in the prices and lead times, and the lack of availability of our procured products and services, including due to macroeconomic and geopolitical conditions such as tariffs and changes in trade policies, our ability to timely collect from customers; our ability to manage our workforce and systems, including the impact of our enterprise resource planning system implementation and business enhancements; our ability to effectively execute our capital allocation framework; our ability to return capital to shareholders, including those related to the timing and amounts (including any plans or commitments in respect thereof) of any dividends and share repurchases; and the realization of additional cost savings and operational efficiencies. These risks and uncertainties are more fully described in Weatherford’s reports and registration statements filed with the Securities and Exchange Commission, including the risk factors described in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Accordingly, you should not place undue reliance on any of the Company’s forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law, and we caution you not to rely on them unduly. This presentation includes Non-GAAP financial measures, identified with an asterisk (*), please refer to the section titled Appendix for definitions and the reconciliation from GAAP to Non-GAAP.
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Weatherford International Plc 3 Q4’25 FINANCIAL RESULTS - HIGHLIGHTS *Non-GAAP – refer to the section titled Appendix ADJ. FREE CASH FLOW* $1,289 million $291 million $222 million 5% Sqtly. 4% YoY 8% Sqtly. 11% YoY 76.3% Conversion (on Adj. EBITDA*) DIVERSIFIED PORTFOLIO: Q4’25 REVENUE SPLIT 26% 18% 40% 43% 27% 19% 7% 20% 9% Sqtly. 1% YoY 8% Sqtly. 3% YoY 2% Sqtly. 4% YoY 4% Sqtly. 3% YoY 16% Sqtly. 21% YoY 2% Sqtly. 5% YoY 2% Sqtly. 15% YoY NASDAQ: WFRD ABOUT WEATHERFORD ▪ 75 Countries & 305 Locations ▪ ~16,700 Team Members with ~105 Nationalities ▪ ~80% International Revenue ▪ ~58% Service Revenue ▪ 3 Segments with 15 Major Product Lines FINANCIAL HIGHLIGHTS ▪ Q4’25 Operating Cash Flow of $268M ▪ Adj. Free Cash Flow* of $222M ▪ Net Income of $138M & Basic Earnings per Share: $1.92 ▪ 0.42x Net Leverage* NAM WCC PRI OTHER LAM MENA ESSR DRE INTERNATIONAL ❖ Shareholder return of $25 million in Q4'25 comprised of: ▪ Dividends of $18 million ▪ Share repurchases of $7 million ❖ Board approved a 10% increase in quarterly dividends to $0.275 per share 22.6% 74 bps Sqtly. 173 bps YoY NAM – North America LAM – Latin America MENA – Middle East/North Africa/Asia ESSR – Europe/Sub-Sahara Africa/Russia ADJ. EBITDA* REVENUE SHAREHOLDER RETURNS DRE – Drilling & Evaluation WCC – Well Construction & Completions PRI – Production & Intervention
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Weatherford International Plc 4 *Non-GAAP – refer to the section titled Appendix Full Year 2025 Performance ▪ Revenue decline of 11% YoY primarily driven by LAM decline of 36% YoY ▪ Adj. EBITDA margin* of 21.7%, a contraction of 337 basis points YoY ▪ Net income margin of 8.8% ▪ Adj. Free Cash Flow Conversion* (as % of EBITDA) improved by 576 bps ▪ Net leverage ratio* of 0.42x lowest level in over 15 years ▪ 2025 shareholder return (dividends and share repurchases) of $173 million, representing ~37% of Adj. free cash flow* 2025 Performance Snapshot $4,918M 21.7% ADJ. EBITDA MARGIN*REVENUE $1,067M ADJ. EBITDA* $466M ADJ. FREE CASH FLOW* $431M NET INCOME $756M OPERATING INCOME Adj Free Cash Flow Conversion* 43.7% Key Highlights: 21.9% 3-year International revenue growth (%) Multi-year Progress: 21.6% 2025 ROIC* 283 bps 3-year EBITDA Margin* expansion (bps) 9.5% 2025 Adj. FCF Margin*
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Weatherford International Plc 5 SHAREHOLDER RETURN UPDATE
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Weatherford International Plc 6 2025 Balance Sheet & Liquidity update *Non-GAAP – refer to the section titled Appendix Liquidity Expansion Debt Restructuring CORPORATE CREDIT RATINGS UPGRADE: MOODY’S (Ba2, Positive Outlook) | S&P (BB, Stable Outlook) | FITCH (BB, Stable Outlook) • Expanded credit facility by $280 million with aggregate commitments of $1 billion with extension through 2030 • Increased accordion feature, which could expand lender commitments to up to $1.15 billion, subject to certain conditions ~$1.6 billion liquidity Unrestricted cash and credit facility • Upsized offering to $1,200 million 6.75% Senior Notes due 2033 • Cash Tender offer of $1,300 million 8.625% Senior Unsecured Notes due 2030 ~$1 billion cash balance Includes cash & restricted cash 0.42x Net Leverage* ~$31 million Annual savings in interest cost
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Weatherford International Plc 7 Capital Allocation Framework 5 BUYBACKS 4 DIVIDENDS 3 M&A 2 BUSINESS INVESTMENT ▪ Through Cycle Resiliency ▪ Maintain ~$1B Liquidity ▪ Target Gross Debt Leverage Ratio ~1x with Reduced Costs ▪ Capex: 3-5% of Revenues ▪ Technology Investment to Drive Portfolio Differentiation ▪ Infrastructure Upgrades ▪ Disciplined Approach ▪ Strategic Advantage ▪ Cash Flow Positive, Margin Accretive with Synergies and Deleveraging ▪ On January 26, 2026, Board approved a 10% increase in Quarterly Dividend to $0.275 per share ▪ Resiliency Conviction on Through Cycle Basis ▪ $500M Share Repurchase Authorization over Three Years BALANCE SHEET 1 Paid dividends of $108M since inception Repurchased shares for $200M since inception Portfolio optimization aligned with accretive business model Continue to invest in organic growth vectors Debt restructuring to lower interest cost in 2025 BUSINESS INVESTMENT, FOCUSED EXECUTION AND SELECTIVE M&A TO DRIVE ROIC*; TARGET OF ~50% ADJ. FREE CASH FLOW* RETURN TO SHAREHOLDERS *Non-GAAP – refer to the section titled Appendix >$300M of Shareholder Return Since Inception
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Weatherford International Plc 8 Q4’25 SEGMENT OVERVIEW
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Weatherford International Plc 9 Well Construction and Completions Drilling and Evaluation Production and Intervention Digitally Enabled Offerings Victus ® Intelligent MPD Centro Well Construction Planning and Optimization Platform DRE: Provides reservoir access and Sub-Surface Evaluation Q4'25 DRE Performance: DRE revenue decreased by 2% sequentially, primarily from lower Drilling services activity in LAM and MENA and lower Wireline activity in ESSR, partly offset by higher MPD activity in LAM and MENA. Managed Pressure Drilling (MPD) #1 Mkt Leader Drilling Services High Temp Wireline Openhole Conveyance Drilling Fluids (DF) Environmentally Friendly Water Based DF DRE 26% WCC 40% PRI 27% Other 7% Q4'25 Revenue Differentiated Position OPERATIONAL & TECHNOLOGY HIGHLIGHTS: Q4'25 Centro Real - Time Drilling Data Services ▪ Bapco Upstream awarded a five-year contract to deliver Directional Drilling and Logging While Drilling services in Bahrain North America Middle East In Nigeria, Weatherford was selected to upgrade an operator’s deepwater Integrated Riser Joint (IRJ) to its Victus Rotating Control Device and advanced control system. The upgrade improved pressure management, enhanced system reliability, and strengthened operational control in complex deepwater applications. ▪ A major operator awarded a two-year contract to provide MPD services across several rigs in Canada ▪ A major operator awarded a four-year contract to provide Wireline services and a five-year contract to provide Completions services in Romania ▪ SNGN RomGaz awarded a four-year contract to provide Wireline services in Romania Europe
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Weatherford International Plc 10 Well Construction and Completions Well Construction and Completions Production and Intervention Digitally Enabled Offerings Vero® Automated Connection Integrity Accuview® Real - time Remote Support WCC: Provides integrity throughout the Well Construction & Production phase Q4’25 WCC Performance: WCC revenue increased by 9% sequentially, primarily from higher Completions activity, partly offset by lower TRS activity in MENA. DRE 26% WCC 40% PRI 27% Other 7% Q4'25 Revenue ▪ PTTEP Thailand awarded a three- year contract to provide TRS for all onshore operations North America Asia Tubular Running Service (TRS) #1 Mkt Leader Cementation Products Well Integrity, Stage Cementing Leader Completions RFID enablement, Optical Measurements Liner Hangers Pressure Balanced Liner System Well Services Qualified Barriers OPERATIONAL & TECHNOLOGY HIGHLIGHTS: Q4'25 Differentiated Position In Norway, Weatherford completed >25 installations of its Plug & Play Liner System with significantly faster execution in challenging well conditions, improving safety and operational efficiency while lowering installation costs and increasing predictability of well delivery ▪ A major Montney operator awarded a two-year contract extension to provide Completions system in Canada ▪ A major operator awarded two contracts to provide TRS and Completions in deepwater Nigeria Africa Middle East ▪ KOC awarded a five-year contract to provide Completions services in Kuwait ▪ PDO Oman awarded a five-year contract to provide Wells Services for the Qarn Alam and South fields in Oman
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Weatherford International Plc 11 Well Construction and Completions Production and Intervention Production and Intervention Digitally Enabled Offerings Weatherford Autonomous Surveillance Program Cygnet ® SCADA Platform for Industrial Operations PRI: Maximizes asset performance, reservoir performance and recovery, and provides Intervention and Abandonment Solutions Q4’25 PRI Performance: PRI revenue increased 8% sequentially, primarily from higher international activity, partly offset by lower ISDT activity in NAM. DRE 26% WCC 40% PRI 27% Other 7% Q4'25 Revenue ForeSite ® Flow: Hybrid Physical and Virtual Flow Measurement OPERATIONAL & TECHNOLOGY HIGHLIGHTS: Q4'25 Differentiated Position ISDT* Fishing and Re-Entry Leader Artificial Lift Large Installed Base with High Performance Units Digital Solutions SCADA, Production Optimization, Flow Measurement Sub-Sea Intervention Drill Pipe Riser System Leader (Brazil) Pressure Pumping Fluid Chemistry In Romania, Weatherford deployed an integrated chemical injection and digital asset management solution for gas production. This system safeguarded pipeline integrity, optimized well performance, reduced deferred production, and extended the life of mature gas assets. *ISDT – Intervention Services & Drilling Tools ▪ A major oil field services company awarded a three-year contract to provide ISDT in deepwater Suriname North America Latin America ▪ Petrobras awarded a four-year ISDT contract in onshore and offshore Brazil ▪ A major operator awarded Weatherford a 52-month contract to provide Fishing packages for Drilling and Completion stages, onshore operations support and Fishing field supervision services for Trion Deepwater project.
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Weatherford International Plc 12 Modern Edge Data Software LaunchPad Transform Your Data From field to strategy, connect physical operations with digital execution. Built to scale across the enterprise and designed for every user—spanning field technicians to executives—Industrial Intelligence empowers smarter decisions where they matter most. Seamless usability. Modular flexibility. And full interoperability. True data transformation begins at the point of decision. Industrial Intelligence Suite of cutting-edge software- enabled hardware integrated into a world-class control system, which is modular to existing infrastructure Out of the box solution that enables operational data normalization from multiple generations, hierarchies, frequencies, and structures to a unified and useable format. Independent, modular and context- relevant data model, which supports all API based applications. Weatherford Software Launchpad enables customer to use built applications, while keeping their data in their own tenant Launched Weatherford Industrial Intelligence Portfolio at FWRD 2025 Technology Conference
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Weatherford International Plc 13 STRATEGIC PRIORITIES UPDATE
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Weatherford International Plc 14 Our Mission Our Vision As a global leader in energy services, operators trust Weatherford to drive maximum value, streamline operations, and enhance safety. In partnership with our customers, we are committed to producing innovative energy solutions that are environmentally and economically sustainable to drive our industry forward. Producing energy for today and tomorrow.
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Weatherford International Plc 15 Organizational Vitality GOAL Sustainable Profitability Positive Free Cash Flow 2025 TACTICAL FOCUS AREAS Financial Performance Customer Experience STRATEGIC PRIORITIES LEAN Operations Creating The Future Net Working Capital Efficiency Growth Vectors Structural Cost
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Weatherford International Plc 16 FINANCIAL PERFORMANCE CUSTOMER EXPERIENCE ORGANIZATIONAL VITALITY LEAN OPERATIONS CREATING THE FUTURE ▪ 2025 Adj. FCF* conversion ratio at 43.7% ▪ 2025 ROIC* of 21.6% and ROA** of 8.3% ▪ In Suriname, Weatherford deployed Modus Managed Pressure Well Solution to mitigate drilling hazards and support safe, efficient well construction in a complex operating environment ▪ In Oman, Weatherford deployed 60 SENSE fiber optic systems to improve product monitoring without intervention ▪ Launched digital literacy training to equip teams to leverage AI, data, and cloud technologies for smarter decisions and innovative customer solutions ▪ Optimizing structure to enhance customer focus, remove redundancies, and improve collaboration ▪ Continued focus on reducing Support Costs and Direct Operating Expenses ▪ 1 day improvement in Adj. NWC* days performance Q4’25 vs. Q3’25 ▪ Continue to invest in R&D while maintaining top-tier ROIC* ▪ Digital & New Energy portfolio build-out *Non-GAAP – refer to the section titled Appendix ** Refer to the section titled Appendix for supplemental financial information Our Strategic Priorities CREATING SUSTAINABLE LONG-TERM VALUE PASSION | ACCOUNTABILITY | INNOVATION | VALUE CREATION
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Weatherford International Plc 17 FINANCIAL PERFORMANCE UPDATE
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Weatherford International Plc 18 Consolidated Revenue Performance $1,341 $1,232 $1,289 $900 $1,000 $1,100 $1,200 $1,300 $1,400 $1,500 Q4'24 Q3'25 Q4'25 Revenue & Adj. EBITDA Margins* Revenue ($ million) 24.3% 22.6%21.8% Adj. EBITDA margins (%) 2% 16% 4% (2%)(5%) (21%) 3% 4% NAM LAM MENA ESSR Q4’25 Geography Revenue Change (%) Seq. (%) YoY (%) Revenue & Adjusted EBITDA Commentary: ▪ Total Revenue up 5% sequentially ▪ International revenue up 5% sequentially, driven by activity pick-up in LAM and improvement in MENA, partly offset by lower activity in ESSR ▪ Adj. EBITDA* of $291 million, 22.6% margin grew 8% and expanded 74 basis points sequentially, primarily driven by higher activity and fall through in WCC and PRI segments (2%) 9% 8% (15%) 1% (3%) DRE WCC PRI Q4’25 Segment Revenue Change (%) Seq. (%) YoY (%) *Non-GAAP – refer to the section titled Appendix Q4’25
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Weatherford International Plc 19 Consolidated Revenue Performance $5,135 $5,513 $4,918 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 2023 2024 2025 Revenue & Adj. EBITDA Margins* Revenue ($ million) 23.1% 21.7%25.1% Adj. EBITDA margins (%) (6%) (36%) (0%) (3%) NAM LAM MENA ESSR 2025 Geography Revenue Change (%) YoY (%) Revenue & Adjusted EBITDA Commentary: ▪ Total Revenue down 11% YoY ▪ International revenue down 12% YoY , primarily driven by lower activity in LAM ▪ Adj. EBITDA* of $1,067 million, 21.7% margin declined 23% and contracted 337 basis points YoY , primarily due to lower activity levels, especially in LAM (18%) (5%) (8%) DRE WCC PRI 2025 Segment Revenue Change (%) YoY (%) *Non-GAAP – refer to the section titled Appendix 2025
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Weatherford International Plc 20 ($ in millions, except per share data) *Non-GAAP - refer to the section titled Appendix [1] Days of revenue metrics use a 365-day convention and are calculated by dividing the applicable field by trailing twelve months revenue (TTM) [2] Includes cash, cash equivalents and restricted cash Consolidated Financial Summary ▪ Revenue: 5% sequential increase in Q4’25, primarily driven by activity pick-up in LAM ▪ Operating Income: 12% sequential increase due to higher sequential revenue ▪ Net Income: 70% sequential increase, mainly due to higher operating income and lower income tax ▪ Adj. NWC*: Down by 1 day sequentially driven by collections from a key customer in LAM and better inventory management ▪ Adj. FCF*: 76.3% Adj. FCF conversion* in Q4’25 vs. 36.8% in Q3’25, primarily driven by significant collections from a key customer in LAM INCOME STATEMENT Q4’25 Δ Seq. Δ YoY 2025 Δ YoY Services Revenue $747 (2%) (6%) $2,980 (12%) Products Revenue $542 15% - $1,938 (9%) Total Revenues $1,289 5% (4%) $4,918 (11%) Operating Income $199 12% 1% $756 (19%) Gross Margin $397 2% (7%) $1,534 (20%) % Gross Margin 30.8% (69 bps) (112 bps) 31.2% (342 bps) Adjusted EBITDA* $291 8% (11%) $1,067 (23%) % Adjusted EBITDA Margin* 22.6% 74 bps (173 bps) 21.7% (337 bps) Net Income $138 70% 23% $431 (15%) % Net Income Margin 10.7% 413 bps 235 bps 8.8% (41 bps) GAAP Basic Earnings per Share $1.92 70% 24% $5.96 (14%) ADJUSTED NET WORKING CAPITAL* Adjusted Net Working Capital* $1,420 Days of Revenue[1] 106 days (1 day) 17 days Accounts Receivable, Net $1,234 Days of Revenue[1] 92 days (2 days) 9 days Inventories, Net $836 Days of Revenue[1] 62 days (3 days) 4 days Accounts Payable $650 Days of Revenue[1] 48 days (4 days) (4 days) TOTAL CASH & CASH FLOW Total Cash [2] $1,042 $11 $67 $1,042 $67 Operating Cash Flow $268 $130 $19 $676 ($116) Adjusted Free Cash Flow* $222 $123 $60 $466 ($58) Capital Expenditures $51 $7 ($49) $226 ($73) % of Revenue 4.0% 39 bps (350 bps) 4.6% (83 bps) Q4’25 commentaries:
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Weatherford International Plc 21 Segment Revenue Commentary: • Sequential decline of 2%, primarily from lower Drilling Services activity in LAM and MENA and lower Wireline activity in ESSR, partly offset by higher MPD activity in LAM and MENA • YoY decline of 15%, primarily from lower activity in LAM, NAM and ESSR, partly offset by higher MPD activity in MENA Segment Adj. EBITDA Commentary: • Sequentially flat, primarily from higher Wireline activity and fall through in MENA, partly offset by lower Drilling-related Services activity • YoY decline of 14%, primarily from lower activity in LAM, partly offset by higher MPD activity in MENA ($ in Millions) Q4'25 Q3’25 Q4’24 Seq (%) YoY (%) Revenue $340 $346 $398 (2%) (15%) Segment Adj. EBITDA $83 $83 $96 - (14%) Segment Adj. EBITDA margin (%) 24.4% 24.0% 24.1% 42 bps 29 bps Drilling & Evaluation Q4’25
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Weatherford International Plc 22 Segment Revenue Commentary: • YoY decline of 18%, primarily due to lower activity in LAM Segment Adj. EBITDA Commentary: • YoY decline of 34%, primarily due to lower activity in LAM ($ in Millions) 2025 2024 YoY (%) Revenue $1,371 $1,682 (18%) Segment Adj. EBITDA $309 $467 (34%) Segment Adj. EBITDA margin (%) 22.5% 27.8% (523 bps) Drilling & Evaluation 2025
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Weatherford International Plc 23 Segment Revenue Commentary: • Sequential growth of 9%, primarily from higher Completions activity, partly offset by lower TRS activity in MENA • YoY growth of 1%, primarily from higher Completions activity in NAM, LAM and MENA, partly offset by lower Cementation Products activity in MENA and NAM Segment Adj. EBITDA Commentary: • Sequential growth of 15%, primarily from higher activity in LAM and MENA, partly offset by lower TRS activity in MENA • YoY decline of 3%, primarily from lower Cementation Products activity in MENA and NAM ($ in Millions) Q4'25 Q3’25 Q4’24 Seq (%) YoY (%) Revenue $510 $468 $505 9% 1% Segment Adj. EBITDA $144 $125 $148 15% (3%) Segment Adj. EBITDA margin (%) 28.2% 26.7% 29.3% 153 bps (107 bps) Well Construction & Completions Q4’25
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Weatherford International Plc 24 Segment Revenue Commentary: • YoY decline of 5%, primarily from lower Cementation Products and Completions activity, partly offset by higher Liner Hangers and Well Services activity Segment Adj. EBITDA Commentary: • YoY decline of 9%, primarily due to lower Cementation Products and Completions activity partly offset by higher Liner Hangers activity and fall through ($ in Millions) 2025 2024 YoY (%) Revenue $1,875 $1,976 (5%) Segment Adj. EBITDA $515 $564 (9%) Segment Adj. EBITDA margin (%) 27.5% 28.5% (108 bps) Well Construction & Completions 2025
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Weatherford International Plc 25 Segment Revenue Commentary: • Sequential growth of 8%, primarily from higher International activity, partly offset by lower ISDT activity in NAM • YoY decline of 3%, primarily from lower Pressure Pumping activity in LAM due to the sale of our Pressure Pumping business in Argentina, partly offset by higher Artificial Lift and Digital Solutions activity in MENA Segment Adj. EBITDA Commentary: • Sequential growth of 24%, primarily from higher Artificial Lift activity and Digital Solutions activity and fall through partly offset by lower ISDT activity and fall through in MENA • YoY decline of 6%, primarily from lower ISDT activity in MENA and ESSR and lower Pressure Pumping activity in LAM due to the sale of our Pressure Pumping business in Argentina, partly offset by higher Digital Solutions fall through in NAM ($ in Millions) Q4'25 Q3’25 Q4’24 Seq (%) YoY (%) Revenue $353 $326 $364 8% (3%) Segment Adj. EBITDA $73 $59 $78 24% (6%) Segment Adj. EBITDA margin (%) 20.7% 18.1% 21.4% 258 bps (75 bps) Production & Intervention Q4’25
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Weatherford International Plc 26 Segment Revenue Commentary: • YoY decline of 8%, primarily due to lower ISDT activity and lower Pressure Pumping activity due to the sale of our Pressure Pumping business in Argentina, partly offset by higher Sub-sea Intervention activity in LAM Segment Adj. EBITDA Commentary: • YoY decline of 19%, primarily due to lower ISDT activity and lower Pressure Pumping activity due to the sale of our Pressure Pumping business in Argentina, partly offset by higher Sub-sea Intervention activity in LAM ($ in Millions) 2025 2024 YoY (%) Revenue $1,340 $1,452 (8%) Segment Adj. EBITDA $257 $319 (19%) Segment Adj. EBITDA margin (%) 19.2% 22.0% (279 bps) Production & Intervention 2025
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Weatherford International Plc 27 Cash & Capital Discipline: Full Year 2025 *Non-GAAP – refer to the section titled Appendix Disciplined increase in Capex, while delivering on Adj. Free Cash Flow* 43.7% 2025 Adj. FCF Conversion* 4.6% Capex as % of Revenue (2025) 28.9% 2025 Adj. Net Working Capital (NWC)*Revenue 3.32x 2.79x 2.32x 2.30x 2.21x 2.00x 1.75x 1.39x 1.29x 1.06x 0.89x 0.69x 0.63x 0.55x 0.49x 0.48x 0.52x 0.49x 0.51x 0.42x 0.00x 0.50x 1.00x 1.50x 2.00x 2.50x 3.00x 3.50x Net Leverage (Net Debt/Adj. EBITDA)* Adj. NWC*: $1,420 million 2025 Capex: $226 million Adj. FCF*: $466 million ❖ Adj. NWC* as % of TTM revenue in 2025 was higher vs. 2024 primarily on account of lower revenue base along with sizeable outstanding receivables from a key customer in LAM ❖ Expansion of credit facility, debt restructuring at lower interest cost and credit rating upgrades from all three rating agencies ❖ Shareholder return of $173 million in 2025 ▪ Dividends of $72 million and share repurchases of $101 million ▪ Board approved a 10% increase in quarterly dividend Adj. NWC* as % of TTM Revenue 2025 Highlights 30.6% 28.1% 25.8% 24.5% 28.9% 0.0% 11.0% 22.0% 33.0% $0 $500 $1,000 $1,500 $2,000 2021 2022 2023 2024 2025 NWC* (% of TTM revenue) Adj. NWC* ($ M) Adj. NWC NWC* (% of TTM Revenue)
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Weatherford International Plc 28 *Non-GAAP – refer to the section titled Appendix Outlook 2026/Q1’26 REVENUES ADJUSTED EBITDA * ADJUSTED FREE CASH FLOW* 20 26 $4.60 - $5.05 Billion $980 - $1,120 Million Mid - point Adj. FCF conversion* in low-to-mid 40% range $4.825 Billion $1,050 Million Q1’ 26 $230 - 240 Million Mid - point $1.125 - $1.165 Billion $235 Million $1.145 Billion Adj. FCF* to be slightly positive
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Weatherford International Plc 29 Differentiated suite of products and services with leading technologies across the portfolio International and offshore relative stability and resilience Top-tier operational and financial performance Cash flow generation and shareholder return via dividends and share buybacks Strategy towards asset light balance sheet, high-return investments and rigorous focus on working capital and capex 1 2 3 4 5 LONG-TERM SHAREHOLDER VALUE CREATION WHY INVEST IN WEATHERFORD
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Weatherford International Plc 30 APPENDIX
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Weatherford International Plc 31 We report our financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, Weatherford’s management believes that certain non-GAAP financial measures (as defined under the SEC’s Regulation G and Item 10(e) of Regulation S-K) may provide users of this financial information additional meaningful comparisons between current results and results of prior periods and comparisons with peer companies. The non-GAAP amounts shown in the following tables should not be considered as substitutes for results reported in accordance with GAAP, but should be viewed in addition to the Company’s reported results prepared in accordance with GAAP. Adjusted EBITDA* - Adjusted EBITDA* is a non-GAAP measure and represents consolidated income before interest expense, net, income taxes, depreciation and amortization expense, and excludes, among other items, restructuring charges, share-based compensation expense, as well as other charges and credits. Management believes adjusted EBITDA* is useful to assess and understand normalized operating performance and trends. Adjusted EBITDA* should be considered in addition to, but not as a substitute for consolidated net income and should be viewed in addition to the Company's reported results prepared in accordance with GAAP. Adjusted EBITDA Margin* - Adjusted EBITDA margin* is a non-GAAP measure that is calculated by dividing consolidated adjusted EBITDA* by consolidated revenues. Management believes adjusted EBITDA margin* is useful to assess and understand normalized operating performance and trends. Adjusted EBITDA margin* should be considered in addition to, but not as a substitute for consolidated net income margin and should be viewed in addition to the Company's reported results prepared in accordance with GAAP. Adjusted Free Cash Flow* - Adjusted Free Cash Flow* is a non-GAAP measure and represents cash flows provided by (used in) operating activities, less capital expenditures plus proceeds from the disposition of assets. Management believes adjusted free cash flow* is useful to understand our performance at generating cash and demonstrates our discipline around the use of cash. Adjusted free cash flow* should be considered in addition to, but not as a substitute for cash flows provided by operating activities and should be viewed in addition to the Company's reported results prepared in accordance with GAAP. Adjusted Net Working Capital* - Adjusted net working capital* is a non-GAAP measure that is calculated as accounts receivables, net plus inventories, net minus accounts payable. Management believes adjusted net working capital* is useful to assess our ability to manage liquidity related to our direct operations. Adjusted net working capital* should be considered in addition to, but not as a substitute for working capital, calculated as current assets less current liabilities, and should be viewed in addition to the Company's reported results prepared in accordance with GAAP. Adjusted Net Working Capital as a Percentage of Revenue* - Adjusted net working capital as a percentage of revenue* is a non-GAAP measure that is calculated as adjusted net working capital divided by revenues for the trailing twelve months. Management believes adjusted net working capital as a percentage of revenue* is useful to assess our ability to manage liquidity related to our direct operations. Adjusted net working capital as a percentage of revenue* should be considered in addition to, but not as a substitute for working capital divided by revenues for the trailing twelve months, calculated as current assets less current liabilities divided by revenue, and should be viewed in addition to the Company's reported results prepared in accordance with GAAP. ROIC (Return on Invested Capital)* - ROIC* is a non-GAAP measure calculated by taking operating income less income taxes for the trailing 12 months as the numerator, divided by the sum of the average for current and long-term debt and total shareholders’ equity at the beginning and end of the trailing 12 month period. Management believes ROIC* is useful to assess our efficiency and profitability in generating returns from invested capital. Other companies may calculate ROIC* differently than we do, which may limit its usefulness as a comparative measure. ROIC should be considered in addition to, but not as a substitute for net income attributable to Weatherford for the trailing 12 months divided by the average of total shareholders' equity at the beginning and end of the trailing 12 month period and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP. Non-GAAP Financial Measures Defined (Unaudited) Appendix A (1/2)
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Weatherford International Plc 32 Net Debt* - Net debt* is a non-GAAP measure that is calculated taking short and long-term debt less cash and cash equivalents and restricted cash. Management believes the net debt* is useful to assess the level of debt in excess of cash and cash and equivalents as we monitor our ability to repay and service our debt. Net debt* should be considered in addition to, but not as a substitute for overall debt and total cash, and should be viewed in addition to the Company’s results prepared in accordance with GAAP. Net Leverage* - Net leverage* is a non-GAAP measure which is calculated by taking net debt* divided by adjusted EBITDA* for the trailing 12 months. Management believes the net leverage* is useful to understand our ability to repay and service our debt. Net leverage* should be considered in addition to, but not as a substitute for the individual components of above defined net debt* divided by consolidated net income attributable to Weatherford, and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP. Adjusted Free Cash Flow Conversion* - Adjusted free cash flow conversion* is a non-GAAP measure that is calculated by dividing adjusted free cash flow* by adjusted EBITDA*. Management believes adjusted free cash flow conversion* is useful to assess the level of normalized liquidity generated in the operating cycle. Adjusted free cash flow conversion* should be considered in addition to, but not as a substitute for the GAAP measures described above for the respective components, and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP. Adjusted Free Cash Flow Margin* - Adjusted Free Cash Flow Margin* is a non-GAAP measure that is calculated by dividing adjusted free cash flow* by consolidated revenues. Management believes adjusted free cash flow margin* is useful to understand our performance at generating cash and demonstrates our discipline around the use of cash. Adjusted free cash flow margin* should be considered in addition to, but not as a substitute for operating cash flows divided by consolidated revenue and should be viewed in addition to the Company's reported results prepared in accordance with GAAP. Non-GAAP Financial Measures Defined (Unaudited) Appendix A (2/2)
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Weatherford International Plc 33 Appendix B GAAP to Non-GAAP Financial Measures Reconciled (Unaudited) *Non-GAAP – as reconciled to the GAAP measures above and defined in APPENDIX A $ in Millions Revenues $ 1,289 $ 1,232 $ 1,341 $ 4,918 $ 5,513 $ 5,135 $ 4,331 Net Income Attributable to Weatherford $ 138 $ 81 $ 112 $ 431 $ 506 $ 417 $ 26 Net Income Margin 10.7% 6.6% 8.4% 8.8% 9.2% 8.1% 0.6% Adjusted EBITDA* $ 291 $ 269 $ 326 $ 1,067 $ 1,382 $ 1,186 $ 817 Adjusted EBITDA Margin* 22.6% 21.8% 24.3% 21.7% 25.1% 23.1% 18.9% Net Income Attributable to Weatherford $ 138 $ 81 $ 112 $ 431 $ 506 $ 417 $ 26 Net Income Attributable to Noncontrolling interests 1 6 12 26 44 32 25 Income Tax Provision (Benefit) (11) 52 45 97 189 57 87 Interest Expense, Net of Interest Income of $10, $11, $12, $46, $56, $59 and $31 21 23 25 91 102 123 179 Loss on Extinguishment of Debt and Bond Redemption Premium 38 - - 39 9 5 5 Loss on Blue Chip Swap Securities 1 - - 2 10 57 - Other Expense, Net 11 16 4 70 78 129 90 Operating Income 199 178 198 756 938 820 412 Depreciation and Amortization 74 67 83 267 343 327 349 Other (Credits) Charges (1) 3 1 18 14 (10) 9 Gain on Sale of Business - - - (70) - (2) - Restructuring Charges 7 11 34 58 42 16 22 Share-Based Compensation 12 10 10 38 45 35 25 Adjusted EBITDA* $ 291 $ 269 $ 326 $ 1,067 $ 1,382 $ 1,186 $ 817 Cash Flows Provided by Operating Activities $ 268 $ 138 $ 249 $ 676 $ 792 $ 832 $ 349 Capital Expenditures for Property, Plant and Equipment (51) (44) (100) (226) (299) (209) (132) Proceeds from Disposition of Assets 5 5 13 16 31 28 82 Adjusted Free Cash Flow* $ 222 $ 99 $ 162 $ 466 $ 524 $ 651 $ 299 Adjusted Free Cash Flow Conversion* (Adj FCF*/Adj EBITDA*) 76.3% 36.8% 49.7% 43.7% 37.9% 54.9% 36.6% 12/31/22 12/31/25 9/30/25 12/31/24 12/31/25 12/31/24 12/31/23 Quarters Ended Year Ended
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Weatherford International Plc 34 Appendix C *Non-GAAP – as reconciled to the GAAP measures above and defined in APPENDIX A GAAP to Non-GAAP Financial Measures Reconciled (Unaudited) $ in Millions Total Current Assets $ 3,372 $ 3,402 $ 3,345 $ 3,043 $ 2,911 Total Current Liabilities 1,537 1,696 1,866 1,470 1,332 Working Capital $ 1,835 $ 1,706 $ 1,479 $ 1,573 $ 1,579 Accounts Receivable, Net $ 1,234 $ 1,261 $ 1,216 $ 989 $ 825 Inventories, Net 836 880 788 689 670 Accounts Payable 650 792 679 460 380 Adjusted Net Working Capital* $ 1,420 $ 1,349 $ 1,325 $ 1,218 $ 1,115 Revenues for the trailing twelve months ("TTM") 4,918 5,513 5,135 4,331 3,645 Working Capital/Revenues for TTM 37.3% 30.9% 28.8% 36.3% 43.3% Adjusted Net Working Capital/Revenues for TTM 28.9% 24.5% 25.8% 28.1% 30.6% 12/31/21 Year Ended 12/31/25 12/31/24 12/31/23 12/31/22 $ in Millions Total Current Assets $ 3,372 $ 3,402 $ 3,345 $ 3,043 $ 2,911 Total Current Liabilities 1,537 1,696 1,866 1,470 1,332 Working Capital $ 1,835 $ 1,706 $ 1,479 $ 1,573 $ 1,579 Cash and Cash Equivalents (987) (916) (958) (910) (951) Restricted Cash (55) (59) (105) (202) (162) Other Current Assets (260) (286) (278) (253) (303) Current Portion of Long-term Debt 30 17 168 45 12 Accrued Salaries and Benefits 285 302 387 367 343 Income Tax Payable 129 129 138 141 140 Current Portion of Operating Lease Liabilities 48 44 46 44 59 Other Current Liabilities 395 412 448 413 398 Adjusted Net Working Capital* $ 1,420 $ 1,349 $ 1,325 $ 1,218 $ 1,115 12/31/21 Year Ended 12/31/25 12/31/24 12/31/23 12/31/22
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Weatherford International Plc 35 Appendix D GAAP to Non-GAAP Financial Measures Reconciled (Unaudited) *Non-GAAP – as reconciled to the GAAP measures above and defined in APPENDIX A $ in Millions 12/31/25 9/30/25 6/30/25 3/31/25 12/31/24 Short-term Borrowings and Current Portion of Long-term Debt $ 30 $ 126 $ 26 22 $ 17 $ 21 $ 20 $ 101 $ 168 $ 91 $ 33 $ 120 $ 45 $ 14 $ 64 $ 13 $ 12 $ 211 $ 10 $ 11 Long-term Debt 1,455 1,462 1,565 1,583 1,617 1,627 1,628 1,629 1,715 1,864 1,993 2,067 2,203 2,366 2,366 2,416 2,416 2,431 2,605 2,602 Total Debt $ 1,485 $ 1,588 $ 1,591 1,605 $ 1,634 $ 1,648 $ 1,648 $ 1,730 $ 1,883 $ 1,955 $ 2,026 $ 2,187 $ 2,248 $ 2,380 $ 2,430 $ 2,429 $ 2,428 $ 2,642 $ 2,615 $ 2,613 Cash and Cash Equivalents $ 987 $ 967 $ 943 873 $ 916 $ 920 $ 862 $ 824 $ 958 $ 839 $ 787 $ 833 $ 910 $ 933 $ 879 $ 841 $ 951 $ 1,291 $ 1,217 $ 1,177 Restricted Cash 55 64 60 57 59 58 58 113 105 107 135 150 202 210 211 215 162 155 170 166 Total Cash $ 1,042 $ 1,031 $ 1,003 930 $ 975 $ 978 $ 920 $ 937 $ 1,063 $ 946 $ 922 $ 983 $ 1,112 $ 1,143 $ 1,090 $ 1,056 $ 1,113 $ 1,446 $ 1,387 $ 1,343 3/31/21 6/30/21 9/30/22 9/30/21 3/31/24 12/31/23 9/30/23 9/30/24 12/31/21 6/30/22 3/31/22 6/30/23 6/30/24 3/31/23 12/31/22 Components of Net Debt 12/31/25 9/30/25 6/30/25 3/31/25 Short-term Borrowings and Current Portion of Long-term Debt $ 30 126 26 22 $ 17 $ 21 $ 20 $ 101 $ 168 $ 91 $ 33 $ 120 $ 45 $ 14 $ 64 $ 13 $ 12 $ 211 $ 10 $ 11 Long-term Debt 1,455 1,462 1,565 1,583 1,617 1,627 1,628 1,629 1,715 1,864 1,993 2,067 2,203 2,366 2,366 2,416 2,416 2,431 2,605 2,602 Less: Cash and Cash Equivalents 987 967 943 873 916 920 862 824 958 839 787 833 910 933 879 841 951 1,291 1,217 1,177 Less: Restricted Cash 55 64 60 57 59 58 58 113 105 107 135 150 202 210 211 215 162 155 170 166 Net Debt* $ 443 557 588 675 $ 659 $ 670 $ 728 $ 793 $ 820 $ 1,009 $ 1,104 $ 1,204 $ 1,136 $ 1,237 $ 1,340 $ 1,373 $ 1,315 $ 1,196 $ 1,228 $ 1,270 Net Income (Loss) for the trailing 12 months $ 431 $ 405 $ 481 470 $ 506 $ 534 $ 500 $ 457 $ 417 $ 349 $ 254 $ 178 $ 26 $ (207) $ (330) $ (414) $ (450) $ (489) $ (568) $ (1,071) Adjusted EBITDA* for the trailing 12 months $ 1,067 $ 1,102 $ 1,188 1,299 $ 1,382 $ 1,377 $ 1,327 $ 1,253 $ 1,186 $ 1,131 $ 1,040 $ 935 $ 817 $ 705 $ 670 $ 620 $ 571 $ 515 $ 440 $ 383 Net Leverage* (Net Debt*/Adjusted EBITDA*) 0.42 x 0.51 x 0.49 x 0.52 x 0.48 x 0.49 x 0.55 x 0.63 x 0.69 x 0.89 x 1.06 x 1.29 x 1.39 x 1.75 x 2.00 x 2.21 x 2.30 x 2.32 x 2.79 x 3.32 x 3/31/21 6/30/21 9/30/22 9/30/21 3/31/24 6/30/24 12/31/23 9/30/23 12/31/24 9/30/24 12/31/21 3/31/22 6/30/22 6/30/23 3/31/23 12/31/22
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Weatherford International Plc 36 Appendix E GAAP to Non-GAAP Financial Measures Reconciled (Unaudited) *Non-GAAP – as reconciled to the GAAP measures above and defined in APPENDIX A $ in Millions Numerator Net Income Attributable to Weatherford $ 431 $ 506 $ 417 $ 26 Denominator Average Total Shareholders' Equity $ 1,490 $ 1,103 $ 737 $ 524 Net Income Attributable to Weatherford/Total Shareholders' Equity 28.9% 45.9% 56.6% 5.0% 12/31/22 Trailing Twelve Months Ending 12/31/23 12/31/25 12/31/24 $ in Millions Numerator Operating Income $ 756 $ 938 $ 820 $ 412 - Income Tax Provision 97 189 57 87 Operating Income Less Income Tax Provision $ 659 $ 749 $ 763 $ 325 Denominator Average Current Portion of Long-term Debt $ 24 $ 93 $ 107 $ 29 + Average Long-term Debt 1,536 1,666 1,959 2,310 + Average Total Shareholders' Equity 1,490 1,103 737 524 Average Invested Capital $ 3,050 $ 2,862 $ 2,803 $ 2,862 ROIC (Return on Invested Capital)* 21.6% 26.2% 27.2% 11.4% 12/31/22 Trailing Twelve Months Ending 12/31/23 12/31/25 12/31/24
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Weatherford International Plc 37 Appendix F Supplemental Financial Information (Unaudited) [1] The average is based on the addition of the account balance at the end of the current period to the account balance at th e end of the prior period and dividing by 2 $ in Millions Numerator Net Income Attributable to Weatherford $ 431 $ 506 $ 417 $ 26 Denominator Average Total Assets¹ $ 5,178 $ 5,114 $ 4,894 $ 4,747 ROA (Return on Assets) 8.3% 9.9% 8.5% 0.5% 12/31/22 Trailing Twelve Months Ending 12/31/25 12/31/24 12/31/23
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Weatherford International Plc 38 Appendix G Supplemental Financial Information (Unaudited) $ in Millions Selected Balance Sheet Data Total Assets $ 5,197 $ 5,159 $ 5,068 $ 4,720 $ 4,774 Current Portion of Long-term Debt 30 17 168 45 12 Long-term Debt 1,455 1,617 1,715 2,203 2,416 Total Shareholders' Equity 1,696 1,283 922 551 496 12/31/22 12/31/21 Years Ended 12/31/25 12/31/24 12/31/23
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Weatherford International Plc 39 Appendix H Supplemental Financial Information $ in Millions North America (a) $ 983 $ 1,046 $ 1,068 $ 1,104 International Revenue 3,935 4,467 4,067 3,227 Latin America 898 1,393 1,387 1,062 Middle East/North Africa/Asia 2,116 2,123 1,815 1,401 Europe/Sub-Sahara Africa/Russia 921 951 865 764 Total Revenue $ 4,918 $ 5,513 $ 5,135 $ 4,331 Three Year International Revenue Growth (2022-2025) 21.9% (a) North America consists of the U.S. and Canada. 12/31/25 12/31/24 12/31/23 12/31/22 Years Ended
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Weatherford International Plc 40 Appendix I GAAP to Non-GAAP Financial Measures Reconciled (Unaudited) $ in Millions Numerator Cash Flows Provided by Operating Activities $ 676 $ 792 $ 832 $ 349 Denominator Revenues $ 4,918 $ 5,513 $ 5,135 $ 4,331 Cash Flows Provided by Operating Activites/Revenues 13.7% 14.4% 16.2% 8.1% 12/31/25 12/31/24 12/31/23 12/31/22 Twelve Months Ending $ in Millions Numerator Cash Flows Provided by Operating Activities $ 676 $ 792 $ 832 $ 349 - Capital Expenditures for Property, Plant and Equipment 226 299 209 132 + Proceeds from Disposition of Assets 16 31 28 82 Adjusted Free Cash Flow* $ 466 $ 524 $ 651 $ 299 Denominator Revenues $ 4,918 $ 5,513 $ 5,135 $ 4,331 Adjusted Free Cash Flow Margin* 9.5% 9.5% 12.7% 6.9% Twelve Months Ending 12/31/25 12/31/24 12/31/23 12/31/22
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Weatherford International Plc 41 FOR FURTHER COMPANY INFORMATION WE INVITE YOU TO VISIT THANK YOU THANK YOU FOR FURTHER COMPANY INFORMATION WE INVITE YOU TO VISIT Weatherford.com Linkedin.com/Company/Weatherford Facebook.com/Weatherford YouTube.com/Weatherford @WeatherfordCorp @WeatherfordCorp Weatherford.com Linkedin.com/Company/Weatherford Facebook.com/Weatherford YouTube.com/Weatherford @WeatherfordCorp @WeatherfordCorp