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 ...

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, 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 organi ...

7/28/2021 NABORS INDUSTRIES LTD. 2Q Earnings Presentation 《》》 NABORS 1 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 provisions of ...

Nabors Industries Ltd. (NYSE:NBR) Q2 2021 Earnings Conference Call July 28, 2021 11:00 AM ET Company Participants William Conroy - Vice President, Corporate Development and IR Tony Petrello - Chairman, President and CEO William Restrepo - Chief Financial Officer Siggi Meissner - President, Global Drilling Organization Conference Call Participants Taylor Zurcher - Tudor, Pickering, Holt Dan Kutz - Morgan Stanley Karl Blunden - Goldman Sachs Andrew Ginsburg - R.W. Pressprich Operator Good day. And welcome to ...

Nabors Industries Ltd. (NYSE:NBR) Q1 2021 Results Earnings Conference Call April 29, 2021 2:00 PM ET Company Participants William Conroy - Vice President of Corporate Development & Investor Relations Tony Petrello - Chairman, President and Chief Executive Officer William Restrepo - Chief Financial Officer Siggi Meissner - President of Global Drilling Organization Conference Call Participants Karl Blunden - Goldman Sachs Taylor Zurcher - Tudor, Pickering, Holt Waqar Syed - ATB Capital Markets Gregg Brody - B ...

4 / 2 8 / 2 0 2 1 NABORS INDUSTRIES LTD. 1Q Earnings Presentation 《》》 NABORS 1 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 provis ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION OF 1934 Commission File Number: 001-32657 NABORS INDUSTRIES LTD. 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, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT (Exact name of registrant as specified in its charter) Bermuda 98-0363970 (State or other jurisdiction of incorporation or organ ...

Financial Performance & Debt Management - Nabors cut debt obligations by $307 million in 4Q20 and 1Q21 through debt exchanges and open market repurchases[10] - The company delivered EBITDA of $108 million in 4Q 2020, the highest among land drillers[10] - Nabors generated Free Cash Flow (FCF) of $66 million in 4Q 2020 from cost reductions and capital discipline[10] - As of December 31, 2020, Nabors' total debt was $2.97 billion, with $0.48 billion in cash, cash equivalents & short-term investments, resulting in a net debt of $2.49 billion[36] - During 2020, the company reduced or extended maturities on an aggregate $1.5 billion of notes with maturities through 2023[37] Rig Utilization & Market Share - In 4Q20, Nabors' U S Lower 48 average rig count was 54, with a 29% utilization rate[14, 16] - High Spec rigs in U S Lower 48 had an average utilization of 48%[17] - Nabors increased its market share with supermajors by 50% compared to the 2014 peak[19] Technology & Automation - SmartDRILL™ is approaching 30% penetration across Nabors' Lower 48 rigs[10, 25] - Nabors' Smart Suite integrated automation solution drove savings of $141,399 per well for a major operator in U S Bakken[21] - SmartDRILL™ wells showed a 61% improvement in connection times compared to manual wells[31] Environmental Stewardship - Nabors has 40 dual-fuel-capable rigs in Lower 48[20] - The company signed onto the Science Based Targets initiative, committed to setting science-based GHG emissions targets[20]

Financial Data and Key Metrics Changes - The net loss from continuing operations for Q4 2020 was $112 million, representing a loss of $16.46 per share, compared to a loss of $161 million or $23.42 per share in Q3 2020 [26] - Revenue from operations for Q4 2020 was $443 million, a sequential gain of 1%, with adjusted EBITDA totaling $108 million, down from $114 million in Q3 2020 [27][30] - Free cash flow for Q4 2020 was $66 million, compared to approximately $9 million in the prior quarter, with net debt declining by $290 million to $2.49 billion [35] Business Line Data and Key Metrics Changes - In the Lower 48, drilling revenue increased by 7% to $103 million, with a rig count improvement of 11% [27] - International drilling revenue decreased by 1% to $245 million, primarily due to a reduction in rig count by almost nine rigs or 12% [28] - Drilling Solutions revenue increased by 9% to $32 million, reflecting strong increases in high-margin performance drilling offerings and RigCLOUD installations [29] Market Data and Key Metrics Changes - The Baker Hughes Lower 48 land rig count increased by 23% from Q3 to Q4 2020, with Nabors' working rig count increasing by a similar percentage [13] - Global oil demand continued to recover, with EIA reporting a consumption increase of more than 2% versus Q3 2020, contributing to a global inventory draw of over 200 million barrels [12] - The average daily rig margin in the Lower 48 was $9,541, exceeding guidance and remaining in line with Q3 [30] Company Strategy and Development Direction - Nabors' strategy focuses on operating premium assets in diversified geographies, expanding services at the well site, and leveraging technology for future growth [40] - The company aims to maintain financial discipline, having reduced overhead spending by 24% in 2020, and is positioned to capitalize on the market upturn [10][11] - The company is committed to ESG initiatives, including setting science-based GHG emissions targets and improving its carbon footprint [19][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in oil prices and the potential for increased rig activity, particularly among smaller operators [14][23] - The company anticipates a modest pickup in activity planned for 2021, with expectations for rig count increases each quarter [14][23] - Management noted that the current commodity price environment supports increased activity, with a focus on profitable growth rather than just market share [59] Other Important Information - The company completed debt exchange transactions that reduced outstanding debt obligations by $284 million [17] - Adjusted EBITDA in the Drilling Solutions segment increased sequentially by 44%, with a margin widening to 32% [17] - The company has introduced advanced energy management systems and is evaluating technologies for carbon capture and emissions minimization [21][22] Q&A Session Summary Question: Cash payment out of SANAD and future distributions - Management clarified that the cash distribution was driven by Saudi Aramco's assessment of excess cash and that significant distributions are not expected before 2023 due to ongoing rig construction [44][45] Question: Update on contract awards and expectations - Management indicated that the cadence for contract awards is pro forma five per year, with three contracts indicated so far, and emphasized the importance of these contracts being long-term and high-value [46][47] Question: Offshore activity and pricing concerns - Management confirmed confidence in increasing activity levels and stated that pricing is determined by contracts, with no major resets expected [48][49][51] Question: Strategies for addressing revolver draw and liquidity - Management highlighted that liquidity is manageable, with significant reductions in near-term maturities and plans to extend the revolver in 2022 [53][55] Question: Market share and pricing discipline in the Lower 48 - Management emphasized a focus on profitable growth rather than market share, noting that daily margins and revenue per rig are higher than peers [58][59]

Company ☐ 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, 2020 ☐ 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 ...