Oil States International (OIS) Investor presentation summary

Strategic transformation and growth focus

• Shifted business mix to prioritize offshore and international markets, now representing 74% of revenues as of March 31, 2026, up from 54% in 2023.

• Leveraged advanced technologies and differentiated offerings to secure strong market positions in less competitive, higher-margin segments.

• Expanded high-margin, unique product lines for domestic markets while de-emphasizing commoditized segments.

• Offshore and international backlog reached $430 million, the highest in a decade, with a book-to-bill ratio of 1.2x.

• Leading market share in FlexJoint connectors (80-85% globally) and rapid adoption of Managed Pressure Drilling systems.

Financial performance and capital allocation

• Market capitalization as of June 11, 2026, is approximately $512 million, with an enterprise value of $508 million.

• EV/2026 consensus EBITDA is 6.4x, a 32% discount to proxy peer average of 9.4x.

• 2026 consensus free cash flow yield is 7.4%, outperforming the 4.4% peer average.

• As of March 31, 2026, net cash position is $4 million, with $59 million in cash and no borrowings under the revolving credit facility.

• Retired $53 million in convertible senior notes in April 2026, using a mix of cash, credit facility, and equity.

Business segments and technology leadership

• Offshore Manufactured Products accounted for 63% of 1Q26 revenue and 72% of segment EBITDA.

• Completion and Production Services contributed 15% of revenue and 24% of segment EBITDA; Downhole Technologies made up 22% of revenue and 4% of segment EBITDA.

• Recognized for innovation with 10 OTC Spotlight on New Technology awards in six years and multiple industry accolades in 2025/2026.

• Advanced product portfolio includes connectors, risers, MPD systems, and emerging solutions for wind, geothermal, and CCS.