Total Energy Services (TOT) Schachter Catch The Energy Conference Presentation summary

Strategic positioning and market outlook

• Global energy demand remains robust, with emerging markets driving future oil and natural gas consumption growth and significant investment in LNG infrastructure supporting natural gas demand.

• Geographical diversification across Canada, the US, and Australia mitigates regional cyclicality and provides exposure to high-growth LNG markets.

• Diversified business segments include contract drilling, rentals and transportation, compression and process services, and well servicing, with ongoing investments in technology and fleet upgrades.

Financial performance and capital management

• H1 2024 revenue reached $418 million, with EBITDA of $80.7 million and net income attributable to shareholders of $30.9 million.

• Market capitalization stands at $383.6 million, with $71.8 million in working capital and $107.2 million in net bank debt as of June 30, 2024.

• Over $200 million of debt repaid since 2017, with annual free cash flow per share growing at a CAGR of 18.8% from 2015 to 2023.

• $323 million returned to shareholders through dividends and share buybacks, exceeding paid-up capital.

Capital investment and asset quality

• 2024 capital expenditure plan totals $127.9 million, including $78.1 million for growth capital and $35.6 million for equipment maintenance.

• Acquisition of Saxon Energy Services Australia in March 2024 added 11 rigs and expanded the Australian customer base, funded by cash and credit facilities.

• No impairments of PP&E or goodwill since inception, with cumulative proceeds from disposals exceeding $125 million and gains on sales averaging 39% above book value.