Ranger Energy Services (RNGR) Investor presentation summary

Market position and operational scale

• Operates the largest fleet of active well servicing rigs in the U.S., with 193 active rigs and 182 available for reactivation as of year-end 2025.

• Holds approximately 50% of the high-spec rig market share among the top three providers.

• Focuses on production services, which account for 65-75% of revenue contribution and offer lower volatility compared to drilling and completion.

Financial performance and shareholder returns

• Achieved $73.2M in adjusted EBITDA and $42.9M in free cash flow for FY 2025, converting 59% of adjusted EBITDA to free cash flow.

• Returned over 40% of free cash flow to shareholders in 2025 through dividends and share repurchases, exceeding the 25% minimum commitment.

• Maintains a strong balance sheet with low net debt, targeting net debt zero before the end of FY 2026.

Strategic growth and acquisitions

• Tripled company size from 2022 to 2025 through acquisitions, notably Basic in 2021 and AWS in 2025.

• AWS acquisition deepened Permian Basin presence, added high-margin service lines, and is expected to generate $4M in annual cost synergies.

• Repurchased over 4.5M shares and instituted a growing dividend during the expansion phase.