Schlumberger Limited (NYSE:SLB) Bernstein 38th Annual Strategic Decisions Conference June 1, 2022 Industry and Company Overview * **Industry**: Oil and Gas * **Company**: Schlumberger Limited (NYSE:SLB) * **Participants**: Olivier Le Peuch (CEO), Bob Brackett (Bernstein Analyst) Key Points Industry Environment 1. **Market Fundamentals**: Constructive due to low global inventories and spare capacity, driven by past underinvestment and the need for supply diversity following Russia's supply disruption [7]. 2. **Efficient Industry**: Emerging with greater capital discipline, focus on returns, and the power of digital to enhance performance and productivity [8]. 3. **Sustainability**: Increasing focus on sustainability commitments and climate actions, with decarbonization of oil and gas operations becoming a mandate [8]. Schlumberger's Position 1. **Geographic Focus**: Leveraging international franchise and high-performing North America business to benefit from broad-based oil and gas investment growth [9]. 2. **Technology and Digital**: Adopting digital platforms, cloud-enabled workflows, AI/ML applications, and digital operations to increase operational productivity and efficiency [10]. 3. **Sustainable Technology**: Developing sustainable technology, including the Transition Technology portfolio and end-to-end Emissions Solutions, to help operators meet sustainability commitments [10]. Examples of Schlumberger's Impact 1. **Autonomous Operations**: Autonomous operations on the Peregrino platform in Brazil demonstrate the future of well construction with digital native foundation and unique equipment and service integration capabilities [11]. 2. **Methane Detection**: Collaboration with the University of Texas on Project Astra to advance methane detection and achieve zero methane emissions [12]. 3. **Subsea Multiphase Compression**: Deploying subsea multiphase compression systems in the Ormen Lange Project in Norway to increase production and reduce CO2 emissions [13]. Financial Performance 1. **2021 Results**: Delivered $3 billion in free cash flow and expanded adjusted EBITDA margins by 320 basis points [13]. 2. **2022 Q1 Results**: Achieved 14% year-over-year revenue growth and 62% year-over-year EPS growth excluding charges and credits [14]. 3. **Dividend Increase**: Recently initiated a 40% dividend increase [14]. Future Outlook 1. **Compelling Environment**: Schlumberger is well-positioned to create value for customers and shareholders in a compelling industry environment [15]. 2. **Financial Outperformance**: Early stages of unprecedented financial outperformance, with high confidence in continued value creation for shareholders [15]. Additional Points 1. **Oil and Gas Cycle**: Comparing current cycle to the 2006-2008 cycle, with favorable factors including demand growth, underinvestment, capital discipline, and energy security concerns [18]. 2. **Russia and Ukraine**: Schlumberger's approach to operations in Russia, including compliance with international sanctions and suspension of new investments and technology deployment [24]. 3. **Capital Discipline**: Schlumberger's focus on capital discipline and its impact on pricing and margin expansion [28-30]. 4. **Inflation**: Schlumberger's ability to manage inflation and offset its impact on margins [32-33]. 5. **Talent Acquisition**: Schlumberger's strategies for retaining and attracting high-quality talent, including brand reputation, development opportunities, and commitment to sustainability and digital [35-36]. 6. **Digital Integration**: Growth potential of Schlumberger's digital and integration business, including cloud-based platforms and data management solutions [44-47]. 7. **New Energy**: Schlumberger's focus on technology-driven new energy solutions, including CCS and direct lithium extraction, with a focus on capital efficiency and adjacency to existing capabilities [55-60]. 8. **CCS**: Potential for CCS to become a significant market with economic incentives and end-user demand [63-68]. 9. **Value Proposition**: Schlumberger's value proposition as a technology innovator, global scale, and execution [70-71].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file No.: 1-4601 | --- | --- | |-----------------------------------------------------------------------------------------------------------------|-------------------------------- ...

Schlumberger Limited (NYSE:SLB) Q1 2022 Earnings Conference Call April 22, 2022 9:30 AM ET Company Participants Ndubuisi Maduemezia - Vice President of Investor Relations Olivier Le Peuch - Chief Executive Officer Stephane Biguet - Chief Financial Officer Conference Call Participants David Anderson - Barclays Capital Chase Mulvehill - Bank of America Merrill Lynch Arun Jayaram - JPMorgan Chase & Co. Neil Mehta - Goldman Sachs Scott Gruber - Citigroup Inc. Connor Lynagh - Morgan Stanley Roger Read - Wells Fa ...

| --- | --- | --- | --- | --- | --- | |---------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------|----------------------------------|-------------------- ...

Schlumberger Limited (NYSE:SLB) Q4 2021 Results Conference Call January 21, 2022 9:30 AM ET Company Participants ND Maduemezia - VP, IR Olivier Le Peuch - CEO Stephane Biguet - CFO Conference Call Participants James West - Evercore ISI David Anderson - Barclays Chase Mulvehill - Bank of America Arun Jayaram - JP Morgan Scott Gruber - Citigroup Connor Lynagh - Morgan Stanley Roger Read - Wells Fargo Neil Mehta - Goldman Sachs Keith MacKey - RBC Capital Markets TRANSCRIPT PROVIDED BY THE COMPANY Operator Ladi ...

Schlumberger Limited (NYSE:SLB) Q3 2021 Earnings Conference Call October 22, 2021 9:30 AM ET Company Participants Olivier Le Peuch – Chief Executive Officer ND Maduemezia – Vice President of Investor Relations Stephane Biguet – Chief Financial Officer Conference Call Participants James C. West – Evercore ISI J. David Anderson – Barclays. Chase Mulvehill – Bank of America Arun Jayaram – JPMorgan Chase Connor Lynagh – Morgan Stanley Scott Gruber – Citigroup Roger Reed – Wells Fargo Waqar Syed – ATB Capital Ma ...