Forum Energy Technologies (FET) EnerCom Denver – The Energy Investment Conference summary

Company Overview and Business Segments

• Operates globally in artificial lift/downhole and drilling/completions, serving major E&P and service companies.

• Manufactures equipment in the US, Canada, UK, Germany, and Saudi Arabia, with revenue split evenly between US and international markets.

• 80% of revenue comes from activity-based consumables, reducing dependence on service company CapEx cycles.

Financial Performance and Shareholder Returns

• Achieved a 10% compound annual revenue growth rate and 46% compound annual cash flow growth over five years, outpacing the Russell 2000.

• Five-year annualized stock performance reached 16% versus 6% for the Russell 2000; one-year return was 158%.

• EBITDA margin improved from 4% in 2021 to an estimated 13% in 2026.

• Reduced net leverage from nearly 4x to 1.1x and repurchased 8% of shares outstanding over two years; net debt reduced by 67% since 2019.

• Completed five accretive acquisitions, enhancing the product portfolio and supporting organic growth.

Value and Capital Allocation

• Adjusted cash flow yield at 17%, enterprise value to EBITDA at 6.7x, and net debt to EBITDA at 0.7x as of June 2026.