Weatherford International plc (NASDAQ:WFRD) Q4 2021 Earnings Conference Call February 17, 2022 9:00 AM ET Company Participants Mohammed Topiwala - Director of Investor Relations Girish Saligram - President & Chief Executive Officer Keith Jennings - Executive Vice President & Chief Financial Officer Conference Call Participants Ian MacPherson - Piper Sandler Doug Baker - Benchmark Research Gregg Brody - Bank of America Sean Mitchell - Daniel Energy Operator Ladies and gentlemen, thank you for standing by. We ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ 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 001-36504 Weatherford International plc 2000 St. James Place, Houston, Texas 77056 ...

INVESTOR PRESENTATION WEATHERFORD INTERNATIONAL PLC Q3 | 2021 2 Q3'21 EARNINGS PRESENTATION DISCLAIMER This presentation contains projections and forward-looking statements concerning, among other things, Weatherford International plc's ("Weatherford" or the "Company") quarterly and full-year revenues, operating income and losses, adjusted EBITDA, unlevered free cash flow, forecasts or expectations regarding business outlook, prospects for its operations and expectations regarding future financial results w ...

Financial Performance - Revenues totaled $945 million in Q3 2021, an increase of $138 million or 17% compared to Q3 2020[66] - Service revenues increased by 28% year-over-year, primarily driven by higher demand in Completion and Production (C&P) and Drilling, Evaluation and Intervention (DEI) services in North America and South America[67] - Total operating income improved by $131 million in Q3 2021 compared to Q3 2020, primarily due to the absence of impairment and restructuring charges[69] - Total operating income for the first nine months of 2021 was $83 million, a significant improvement of $1,462 million compared to a loss of $1,379 million in the same period of 2020[86] - Net loss attributable to Weatherford for the first nine months of 2021 was $289 million, an improvement of $1,432 million or 83% compared to a loss of $1,721 million in 2020[86] Revenue Breakdown - Western Hemisphere revenues increased by $42 million or 3% in the first nine months of 2021, driven by higher business activity levels for C&P services and products[87] - Eastern Hemisphere revenues decreased by $205 million or 13% in the first nine months of 2021, attributed to a decline in international activity due to the COVID-19 pandemic[88] Market Conditions - Average oil prices for WTI rose to $70.62 per barrel in Q3 2021, a 73% increase from $40.89 in Q3 2020[75] - Natural gas prices increased by 118% year-over-year, averaging $4.36 per MMBtu in Q3 2021[76] - The average rig count in North America increased to 647 in Q3 2021, up from 301 in Q3 2020, reflecting a recovery in drilling activity[75] Cash Flow and Liquidity - Cash provided by operating activities was $234 million for the first nine months of 2021, an increase of $46 million compared to $188 million in the same period of 2020[100] - Non-GAAP free cash flow for the first nine months of 2021 was $229 million, compared to $101 million in the same period of 2020[107] - Total cash and cash equivalents at September 30, 2021, were $1.45 billion, an increase of $161 million compared to the end of 2020[99] - Cash and cash equivalents totaled $1.45 billion as of September 30, 2021, including $155 million in restricted cash[118] Debt and Financing - Interest expense for the first nine months of 2021 was $211 million, an increase of $30 million or 17% compared to $181 million in the same period of 2020[91] - The company issued $500 million of 6.5% Senior Secured Notes maturing on September 15, 2028, to enhance liquidity[112] - The company issued $1.6 billion of 8.625% senior notes due April 30, 2030, and used the proceeds to redeem $1.6 billion in principal of its Exit Notes[114] - The company expects to make annual interest payments of approximately $204 million after refinancing its Exit Notes and the 2024 Secured Notes, down from $275 million[117] Credit Ratings - Standard and Poor's upgraded the credit rating of the company's Exit Notes to CCC+ with a stable outlook on July 1, 2021[121] - Moody's assigned a B3 rating to the company's new 2030 Senior Unsecured Notes and changed its outlook to stable from negative on October 12, 2021[122] Operational Challenges - The company continues to face challenges from inflationary pressures and supply chain disruptions due to the ongoing COVID-19 pandemic[79] - The company anticipates utilizing cash to invest in capital assets and inventory as business activity rises to pre-COVID-19 levels[115] Other Financial Metrics - The company had $329 million of letters of credit outstanding as of September 30, 2021, which included $173 million under the LC Credit Agreement[124] - The company had outstanding surety bonds of $287 million, primarily in Latin America, as of September 30, 2021[125] - The company received cash proceeds from the sale of accounts receivable of $12 million and $46 million for the three and nine months ended September 30, 2021, respectively, compared to $10 million and $30 million in the same periods of 2020[120]

INVESTOR PRESENTATION WEATHERFORD INTERNATIONAL PLC Q2 | 2021 2 Q2'21 EARNINGS PRESENTATION DISCLAIMER This presentation contains projections and forward-looking statements concerning, among other things, Weatherford International plc's ("Weatherford" or the "Company") quarterly and full-year revenues, operating income and losses, adjusted EBITDA, unlevered free cash flow, forecasts or expectations regarding business outlook, prospects for its operations and expectations regarding future financial results w ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Mark One) 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 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 001-36504 Weatherford International plc (Exact Name of Registran ...

INVESTOR PRESENTATION WEATHERFORD INTERNATIONAL PLC Q1 | 2021 2 Q1'21 EARNINGS PRESENTATION DISCLAIMER This presentation contains projections and forward looking statements concerning, among other things, Weatherford International plc's ("Weatherford" or the "Company") prospects for its operations and expectations regarding future financial results which are subject to certain risks, uncertainties and assumptions. These risks and uncertainties, which are more fully described in Weatherford's reports and reg ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Mark One) 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 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 001-36504 Weatherford International plc (Exact Name of Registra ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ 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 001-36504 Weatherford International plc (Exact name of registrant as specified in ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Mark One) 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, 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 001-36504 Weatherford International plc (Exact Name of Regi ...