Tetra Technologies, Inc. (NYSE:TTI) Q1 2021 Earnings Conference Call May 4, 2021 10:30 AM ET Company Participants Elijio Serrano - SVP & CFO Brady Murphy - President, CEO & Director Conference Call Participants Stephen Gengaro - Stifel, Nicolaus & Company Samantha Hoh - Evercore ISI Operator Good morning, and welcome to TETRA Technologies First Quarter 2021 Results Conference Call. Speakers for today's call are Brady Murphy, Chief Executive Officer; and Elijio Serrano, Chief Financial Officer. [Operator Ins ...

©2021 TETRA Technologies, Inc. 1 Company Overview March 2021 Disclaimer Forward-Looking Statements The information in this presentation includes "forward-looking statements." All statements, other than statements of historical fact included in this presentation, regarding our management, strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this presentation, the words "could ...

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 OR ☐ 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 1-13455 TETRA Technologies, Inc. (Exact name of registrant as specified in its charter) Delaware 74-2148293 (State or Other Jurisdiction ...

TETRA Technologies, Inc. (NYSE:TTI) Q4 2020 Earnings Conference Call February 25, 2021 10:30 AM ET Company Participants Elijio Serrano - Chief Financial Officer Brady M. Murphy - Chief Executive Officer Conference Call Participants Stephen Gengaro - Stifel Samantha Hoh - Evercore ISI Operator Good morning, and welcome to TETRA Technologies Fourth Quarter and Full Year 2020 Results Conference Call. The speakers for today's call are, Mr. Brady M. Murphy, Chief Executive Officer; and Mr. Elijio Serrano, Chief ...

TETRA Technologies, Inc. (NYSE:TTI) Q3 2020 Earnings Conference Call November 3, 2020 9:30 AM ET Company Participants Elijio Serrano – Chief Financial Officer Brady Murphy – Chief Executive Officer Conference Call Participants Jim Roumell – Roumell Asset Management Stephen Gengaro – Stifel Joseph Von Meister – Intermarket Operator Good morning, and welcome to TETRA Technologies Third Quarter 2020 Results Conference Call. The speakers for today’s call are Brady Murphy, Chief Executive Officer; and Elijio Ser ...

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 September 30, 2020 or ☐ 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 1-13455 TETRA Technologies, Inc. (Exact name of registrant as specified in its charter) Delaware 74-2148293 (State or Other Jur ...

©2020 TETRA Technologies, Inc. 1 THE MICROCAP RODEO The Best Ideas Bowl October 14, 2020 Forward Looking Statements & Non-GAAP Measures Forward-Looking Statements This presentation includes certain statements that are or may be deemed to be forward-looking statements. Generally, the use of words such as "may," "will," "see", "expect," "intend," "estimate," "projects," "anticipate," "believe," "assume," "could," "should," "plans," "targets" or similar expressions that convey the uncertainty of future events, ...

PART I—FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) TETRA Technologies reported a significant Q2 2020 revenue decline and net loss, with total assets decreasing to **$1.19 billion** and positive operating cash flow for the first six months Financial Metrics ($ in thousands) | Financial Metric | Three Months Ended June 30, 2020 | Three Months Ended June 30, 2019 | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenues** | $192,441 | $288,796 | $415,383 | $532,524 | | **Gross Profit** | $20,321 | $48,366 | $59,738 | $84,576 | | **Loss Before Taxes** | $(35,129) | $(5,711) | $(44,206) | $(22,776) | | **Net Loss Attributable to TETRA Stockholders** | $(21,255) | $(6,913) | $(22,806) | $(17,751) | | **Net Loss Per Share (Basic & Diluted)** | $(0.17) | $(0.06) | $(0.18) | $(0.14) | Balance Sheet Items ($ in thousands) | Balance Sheet Item | June 30, 2020 (Unaudited) | December 31, 2019 | | :--- | :--- | :--- | | **Total Current Assets** | $308,987 | $351,354 | | **Total Assets** | $1,188,594 | $1,271,922 | | **Total Current Liabilities** | $147,327 | $188,723 | | **Long-term Debt, net** | $843,292 | $842,871 | | **Total Equity** | $112,686 | $162,826 | | **Total Liabilities and Equity** | $1,188,594 | $1,271,922 | Cash Flow Activities ($ in thousands) | Cash Flow Activity (Six Months Ended June 30) | 2020 | 2019 | | :--- | :--- | :--- | | **Net Cash Provided by Operating Activities** | $60,387 | $38,377 | | **Net Cash Used in Investing Activities** | $(14,063) | $(71,254) | | **Net Cash Provided by (Used in) Financing Activities** | $(6,486) | $18,715 | | **Increase (Decrease) in Cash** | $39,012 | $(14,057) | [Notes to Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) This section details company structure, accounting policies, and financial items, including **$14.3 million** in asset impairments, separate debt structures for TETRA and CCLP, and ongoing litigation - The company operates through **three divisions**: Completion Fluids & Products, Water & Flowback Services, and Compression, with **separate capital structures** for TETRA and its subsidiary CSI Compressco LP (CCLP) without cross-default provisions[28](index=28&type=chunk)[30](index=30&type=chunk) - Significant impairments were recorded due to the COVID-19 pandemic and oil price decline, including **$5.4 million** in Q1 2020 for the Midland manufacturing facility and an additional **$9.0 million** in Q2 2020 for non-core compressor equipment and inventory[63](index=63&type=chunk)[64](index=64&type=chunk)[65](index=65&type=chunk) - The company is involved in litigation regarding decommissioning liabilities for the divested Maritech segment and a separate lawsuit for a **$7.5 million** promissory note default related to the Offshore Division sale[92](index=92&type=chunk)[94](index=94&type=chunk) - Subsequent to the quarter end, on July 2, 2020, the company completed the sale of its Midland manufacturing facility for **$17.0 million**[107](index=107&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=32&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the severe impact of COVID-19 and low commodity prices on operations, leading to a **33.4%** Q2 2020 consolidated revenue decline, cost reductions, and separate liquidity management for TETRA and CCLP - The business was **significantly impacted** by depressed commodity prices and the COVID-19 pandemic, leading to reduced demand, especially for the Water & Flowback Services and Compression divisions[113](index=113&type=chunk)[114](index=114&type=chunk) - The company shut down its Midland manufacturing facility, which was sold on July 2, 2020, for **$17.0 million**, and no longer intends to fabricate new compressor packages[116](index=116&type=chunk) - **Cost reduction measures** have been implemented, including reductions in capital expenditures, workforce and salary reductions, suspension of 401(k) matching, and reduced SG&A expenses[119](index=119&type=chunk) - CCLP completed a debt exchange offer, resulting in a permanent reduction of **$9.6 million** in long-term debt and an extension of maturity dates for certain remaining debt balances[118](index=118&type=chunk) [Results of Operations](index=35&type=section&id=Results%20of%20Operations) Q2 2020 consolidated revenue decreased **33.4%** to **$192.4 million**, with significant declines in Water & Flowback Services and Compression, while Completion Fluids & Products saw gross profit increase **5.1%** Consolidated Performance (Q2 2020 vs Q2 2019, $ in thousands) | Metric (Q2 2020 vs Q2 2019) | Amount | % Change | | :--- | :--- | :--- | | **Consolidated Revenues** | $(96,355) | (33.4)% | | **Consolidated Gross Profit** | $(28,045) | (58.0)% | | **Net Loss Attributable to TETRA** | $(14,342) | 207.5% | Division Performance (Q2 2020 vs Q2 2019) | Division Performance (Q2 2020 vs Q2 2019) | Revenue Change | Gross Profit Change | | :--- | :--- | :--- | | **Completion Fluids & Products** | (10.6)% | +5.1% | | **Water & Flowback Services** | (66.2)% | (164.6)% | | **Compression** | (29.1)% | (78.8)% | [Liquidity and Capital Resources](index=43&type=section&id=Liquidity%20and%20Capital%20Resources) TETRA and CCLP maintain separate capital structures; consolidated debt was **$843.3 million** as of June 30, 2020, with **$60.4 million** cash from operations and significantly reduced capital expenditures - The company and its subsidiary CCLP have **separate capital structures** with no cross-default provisions or cross-guarantees between their respective debt agreements[163](index=163&type=chunk)[164](index=164&type=chunk) Debt and Cash Balances (June 30, 2020, $ in millions) | Entity | Total Long-Term Debt (Net) | Cash Balance | | :--- | :--- | :--- | | **TETRA** | $205.7 | $50.0 | | **CCLP** | $637.6 | $6.8 | | **Consolidated** | $843.3 | $56.7 | - Capital expenditures for the first six months of 2020 were **$19.6 million**, with full-year 2020 planned capex reduced to **$10-$15 million** for TETRA (ex-Compression) and **$28-$35 million** for the Compression Division[168](index=168&type=chunk)[169](index=169&type=chunk)[170](index=170&type=chunk) - CCLP completed an exchange offer for its 7.25% Senior Notes due 2022, exchanging **$215.2 million** of old notes for new 7.50% First Lien Notes and 10.00%/10.75% Second Lien Notes, extending maturities to 2025 and 2026[178](index=178&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=49&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This section is marked 'Not Applicable', indicating no new or material changes to the company's market risk disclosures from the last annual report - The company has indicated that there are **no new quantitative and qualitative disclosures** about market risk to report for this period[197](index=197&type=chunk) [Controls and Procedures](index=49&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of June 30, 2020, with no material changes to internal control over financial reporting - Based on an evaluation by management, the CEO and CFO concluded that the company's disclosure controls and procedures were **effective** as of June 30, 2020[198](index=198&type=chunk) - **No changes** in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[199](index=199&type=chunk) PART II—OTHER INFORMATION [Legal Proceedings](index=49&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various lawsuits and governmental proceedings, which management does not expect to have a material adverse impact on financial condition or results - The company is a defendant in **various lawsuits** and governmental proceedings arising from normal business operations[201](index=201&type=chunk) - Management does not expect these legal proceedings to have a **no material adverse impact** on the company's financial condition or results[201](index=201&type=chunk) [Risk Factors](index=49&type=section&id=Item%201A.%20Risk%20Factors) This section updates risk factors, highlighting significant negative impacts of the COVID-19 pandemic, including declining demand, operational disruptions, potential customer defaults, and future asset impairment charges - The primary updated risk factor relates to the **negative impacts of the COVID-19 pandemic** on the business, financial condition, and liquidity[202](index=202&type=chunk)[203](index=203&type=chunk) - Specific risks from the pandemic include **declining demand** for products as customers cut budgets, **operational challenges** with remote work, **supply chain disruptions**, and **increased cybersecurity threats**[206](index=206&type=chunk) - The company warns of potential financial impacts such as **late customer payments**, **contractual defaults** from bankruptcies, **higher future borrowing costs**, and the need for **significant asset impairment charges**[206](index=206&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=50&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered equity sales occurred; no shares were repurchased under the **$20 million** program, with **$14.3 million** remaining, though **11,590** shares were acquired for employee equity awards - **No shares were purchased** as part of the publicly announced stock repurchase program during the quarter[209](index=209&type=chunk) - As of June 30, 2020, approximately **$14.3 million** remained authorized for future repurchases under the existing plan[209](index=209&type=chunk) - The company acquired **11,590 shares** during the quarter, not as part of the buyback program, but in connection with the exercise or vesting of employee equity awards[209](index=209&type=chunk)[210](index=210&type=chunk)

TETRA Technologies, Inc. (NYSE:TTI) Q2 2020 Earnings Conference Call August 4, 2020 9:30 AM ET Company Participants Brady Murphy - Chief Executive Officer Elijio Serrano - Chief Financial Officer Jacek Mucha - Vice President of Finance, Treasurer Conference Call Participants Stephen Gengaro - Stifel Operator Good day and welcome to the TETRA Technologies Incorporated Second Quarter 2020 results conference call. [Operator Instructions] please note this event is being recorded. I would now like to turn the c ...

1 ©2020 TETRA Technologies, Inc. TETRA Technologies, Inc. Stifel 2020 Cross Sector Insight Conference June 8, 2020 Forward Looking Statements & Non-GAAP Measures Forward-Looking Statements This presentation includes certain statements that are or may be deemed to be forward-looking statements. Generally, the use of words such as "may," "will," "see", "expect," "intend," "estimate," "projects," "anticipate," "believe," "assume," "could," "should," "plans," "targets" or similar expressions that convey the unc ...