Liberty Energy (LBRT) investor relations material

Key milestones and company evolution

• Celebrating 15 years in operation, with a mission to be the top frac company in the U.S., consistently ranked #1 in the Kimberlite survey for eight years.

• Expanded from North America into Australia and launched a power business, evolving into broader energy services.

• Became a public company in 2018, maintaining a focus on reinvesting capital for growth and efficiency.

• Achieved over $4 billion in revenue last year, with more than 5,500 employees.

• Completed transformative acquisitions, including U.S. assets of Sangio and Schlumberger’s onshore North American frac business.

Technology, innovation, and operational efficiency

• Pioneered technology such as containerized sand, e-frac (DigiFrac), and multiple DigiPrime engine versions.

• Integrated logistics and supply chain, including CNG business, sand mines, and PropX acquisition, to control critical inputs.

• Developed a comprehensive engineering department with AI and big data analysis to optimize frac design.

• Achieved continuous pumping for over ten days, maximizing asset utilization and reducing well completion costs.

• Focused on vertical integration to enhance earnings and EBITDA, even in challenging market conditions.

Market trends, asset management, and efficiency strategies

• Emphasized the importance of horsepower hours over fleet count for measuring industry capacity.

• Lowered headline fleet count but maintained full asset utilization due to evolving fleet capabilities.

• Increased adoption of simul frac to boost efficiency, with expectations for continued growth.

• Noted higher fleet attrition rates during downturns, leading to a reduction in older equipment.

• Maintained control over logistics and fuel supply to ensure 24/7 operations and cost efficiency.