Investor Presentaiton
RIG 285
285
A Compelling Combination
Establishes a premier drilling and completions provider in U.S. land positioned among the leaders
in contract drilling, pressure pumping, and directional drilling
Attractive investment opportunity with greater size and scale facilitating increased share float and
liquidity and a more stable and sustainable returns profile
Brings together best-in-class operational execution and technology portfolio to enhance value
creation opportunities and maximize returns for both the combined company and its customers
Expected to be accretive to earnings per share and free cash flow (FCF) per share in 2024
Additional value driven by ~$200 million annual synergies realization within 18 months post-close
Intend to remain good stewards of capital and target high FCF conversion; 50%+ of FCF expected
to be returned to shareholders through a combination of dividends and share repurchases
Strong balance sheet with net debt to combined trailing 12-month Adjusted EBITDA of 0.5x as of
March 31, 2023; maintain strong liquidity and a favorable debt maturity profile
Leadership position in low-carbon alternative fuel sources for drilling and completions using
natural gas, high-line power, and lithium battery solutions
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