Nabors Industries Ltd. (NYSE:NBR) Q2 2022 Earnings Conference Call August 4, 2022 1:00 PM ET Company Participants William Conroy - VP, Corporate Development & IR Anthony Petrello - Chairman, President and CEO William Restrepo - CFO Conference Call Participants Derek Podhaizer - Barclays Karl Blunden - Goldman Sachs John Daniel - Daniel Energy Partners David Smith - Pickering Energy Partners Keith Mackey - RBC Capital Markets Arun Jayaram - JPMorgan Operator Good afternoon, and welcome to the Nabors Industri ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-32657 NABORS INDUSTRIES LTD. (Exact name of registrant as specified in its charter) Bermuda 98-0363970 (State or other jurisdiction of incorporation or organi ...

《》 NABORS 2Q 2022 Earnings Presentation NABORS INDUSTRIES LTD. August 4, 2022 Forward Looking Statements We often discuss expectations regarding our future markets, demand for our products and services, and our performance in our annual, quarterly, and current reports, press releases, and other written and oral statements. Such statements, including statements in this document that relate to matters that are not historical facts, are "forward-looking statements" within the meaning of the safe harbor provisi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-32657 NABORS INDUSTRIES LTD. (Exact name of registrant as specified in its charter) Bermuda 98-0363970 (State or other jurisdiction of incorporation or organ ...

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q1 2022 was $131 million, reflecting a minor decrease of $1.1 million or 0.9% sequentially [11][53] - Net loss from continuing operations was $184 million or $22.51 per share, compared to a loss of $114 million or $14.60 per share in the prior quarter [47] - Revenue from operations increased to $569 million, a 5% sequential improvement [51] - Net debt improved by $55 million in Q1 2022, largely due to the exercise of warrants [64] Business Line Data and Key Metrics Changes - Revenue in the Drilling Solutions segment increased by nearly 5% sequentially, with EBITDA reaching $20 million, the highest since the pandemic began [12][61] - U.S. Drilling EBITDA was $74.3 million, up by $5 million or 7% compared to the prior quarter, driven by a 19% improvement in Lower 48 EBITDA [54] - International EBITDA was $71.2 million, decreasing by almost $2 million sequentially, primarily due to operations in Russia [58] Market Data and Key Metrics Changes - The global average rig count increased by 10 rigs in Q1 2022, driven mainly by increased U.S. drilling activity [11] - Average daily revenue exceeded $23,000 in Q1 2022, up nearly $300 or 6% sequentially [33] - The average rig count in the Lower 48 increased to 83.4 rigs, up approximately 9 rigs from the previous quarter [55] Company Strategy and Development Direction - The company is focused on five key initiatives: leading technology in the U.S. market, expanding international business, improving technology and innovation, enhancing capital structure, and committing to sustainability [14] - The company aims to target the third-party rig market to expand its addressable market beyond its own rigs [20] - Investments in geothermal technology and energy transition initiatives are seen as potential growth areas, with expectations that these could contribute significantly to future revenues [131] Management's Comments on Operating Environment and Future Outlook - Management noted that the macro environment has improved, with WTI crude oil prices closing above $100, which is expected to incentivize increased drilling activity [29][31] - The company anticipates continued increases in drilling activity globally, with a projected increase in the Lower 48 average daily margin to approximately $8,500 per day in Q2 2022 [56] - Management expressed confidence in achieving their long-term EBITDA target of $800 million, supported by expected improvements in rig margins [93] Other Important Information - The company is experiencing challenges related to supply chain constraints and inflation, which have led to increased costs [43][66] - The company has made significant progress in reducing net debt and improving its capital structure, including the completion of a new revolving credit facility [71][72] - The company is targeting breakeven free cash flow for Q2 2022, with expectations of generating over $100 million in free cash flow for the year [70] Q&A Session Summary Question: Utilization rates in the U.S. Lower 48 high-spec area - Management indicated that they expect to exit the year with over 100 rigs, with plans to add additional rigs with minimal capital [80][81] Question: Warrant exercise trends and near-term debt priorities - Management confirmed that warrant exercises have been cash-based and are expected to continue, with discussions on future financing options ongoing [84][88] Question: Lower 48 margins beyond Q2 - Management believes that margins could reach around $10,000 per day, with a strong focus on executing contracts to achieve this [92][95] Question: International contract re-openers and pricing drivers - Management highlighted that supply-demand tightness and labor issues are expected to drive pricing improvements in international markets [106][110] Question: Geothermal investments and future earnings potential - Management expressed optimism that geothermal initiatives could contribute significantly to revenues, potentially accounting for a quarter of the business in the next five years [131]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-32657 NABORS INDUSTRIES LTD. (Exact name of registrant as specified in its charter) Bermuda (State or Other Jurisdicti ...

Nabors Industries Ltd. (NYSE:NBR) Q4 2021 Earnings Conference Call February 9, 2022 2:00 PM ET Company Participants William Conroy - VP, Corporate Development & IR Anthony Petrello - Chairman, President and CEO William Restrepo - CFO Subodh Saxena - SVP Conference Call Participants Connor Lynagh - Morgan Stanley Waqar Syed - ATB Capital Markets Karl Blunden - Goldman Sachs Arun Jayaram - JPMorgan Taylor Zurcher - Tudor, Pickering and Holt Keith Mackey - RBC Capital Markets Operator Good day, and welcome to ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-32657 NABORS INDUSTRIES LTD. (Exact name of registrant as specified in its charter) Bermuda 98-0363970 (State or other jurisdiction of incorporation or o ...

NABORS NABORS INDUSTRIES LTD. 3Q 2021 Earnings Presentation October 26, 2021 NABORS INDUSTRIES LTD. Forward Looking Statements We often discuss expectations regarding our future markets, demand for our products and services, and our performance in our annual, quarterly, and current reports, press releases, and other written and oral statements. Such statements, including statements in this document that relate to matters that are not historical facts, are "forward-looking statements" within the meaning of t ...

Nabors Industries Ltd (NYSE:NBR) Q3 2021 Earnings Conference Call October 27, 2021 12:00 PM ET Company Participants William Conroy - VP, Corporate Development & IR Anthony Petrello - Chairman, President & CEO William Restrepo - CFO Conference Call Participants Taylor Zurcher - Tudor, Pickering, Holt & Co. Connor Lynagh - Morgan Stanley Arun Jayaram - JPMorgan Chase & Co. Karl Blunden - Goldman Sachs Group Gregg Brody - Bank of America Merrill Lynch Andrew Ginsburg - R.W. Pressprich Operator Good day, and we ...