ProPetro (PUMP) 16th Annual Midwest Ideas Conference summary

Strategic investments and operational focus

• Over $1 billion reinvested in capital-light, efficient equipment over the past five years, improving returns and reducing maintenance cycles.

• Transitioned to more durable, electric and gas-burning equipment, phasing out diesel fleets for efficiency and longevity.

• All operations currently focused in the Permian Basin, with plans to expand power services beyond oil and gas.

• Free cash flow generation remains strong despite industry downturns, with $67 million generated year-to-date through Q2 2025.

• CapEx cycle now in maintenance mode, allowing for scalable investment aligned with activity levels.

Service line expansion and ProPWR launch

• Three main service lines currently, with ProPWR launching soon as a fourth, expected to quickly rival hydraulic fracturing in revenue.

• ProPWR targets infield power generation for oil and gas customers, with future potential to serve data centers and AI projects.

• 220 MW of power equipment ordered, split between turbines and gas reciprocating generators, all expected to be contracted by year-end.

• Inaugural 10-year contract for 80 MW signed, with all 220 MW anticipated to be under long-term take-or-pay contracts.

• Modular approach to power generation provides redundancy and flexibility for customer needs.

Financial discipline and market positioning

• Shifted capital allocation from share repurchases to funding ProPWR, reflecting belief in long-term growth.

• M&A activity has strengthened service offerings, including acquisitions in wireline, cementing, and sand logistics.

• Business model now resilient to market cycles, with industrialized, capital-light assets supporting durable free cash flow.

• Company trades at a valuation discount to peers, seen as an opportunity for re-rating due to improved capital discipline and consolidation.

• Management and board are committed to growth and operational excellence, leveraging strong customer relationships.