SLB (SLB) Proxy Filing summary

Executive summary

• Achieved $36.29 billion in revenue (+10% YoY), $4.46 billion net income (+6% YoY), and $9.07 billion adjusted EBITDA (+12% YoY). Returned $3.27 billion to shareholders and increased quarterly dividend for the fourth time in three years.

• Initiated accelerated share repurchase transactions, targeting a minimum of $4.0 billion returned to shareholders in 2025. Announced acquisition of ChampionX Corporation to strengthen production and recovery capabilities.

• Digital revenue grew 20% to $2.44 billion, with expanded partnerships and new platform launches. New Energy segment saw growth in decarbonization, renewables, and critical minerals.

• Achieved 11% reduction in Scope 1 and 2 emissions intensity and 18% reduction in Scope 3 emissions intensity year-on-year. Women now represent 25% of the global salaried workforce.

Voting matters and shareholder proposals

• Shareholders to vote on: election of nine directors, advisory say-on-pay for executive compensation, approval of 2024 financial statements and dividends, ratification of PwC as independent auditor, and amendment to the Discounted Stock Purchase Plan.

• Board recommends voting FOR all proposals. Shareholders can vote by internet, phone, or mail.

Board of directors and corporate governance

• Nine director nominees with diverse backgrounds and expertise; two directors not standing for re-election. Board aims for 30% female representation and is searching for an additional member.

• Board committees: Audit, Compensation, Nominating and Governance, Finance, and New Energy and Innovation. 40% of board committees chaired by women.

• Annual board and committee evaluations, director orientation, and ongoing education. Overboarding policy limits outside board commitments.

• All non-employee directors compensated with cash and equity; stock ownership guidelines require 5x annual cash retainer.