Select Energy Services, Inc. (NYSE:WTTR) Q3 2020 Earnings Conference Call November 4, 2020 10:00 AM ET Company Participants Chris George - VP, IR & Treasurer Holli Ladhani - President, CEO & Director Nicholas Swyka - CFO & SVP Conference Call Participants John Lowe - Citigroup Ian MacPherson - Piper Sandler & Co. Kurt Hallead - RBC Capital Markets Thomas Curran - B. Riley Securities, Inc. Sean Meakim - JPMorgan Chase & Co. Operator Greetings, and welcome to the Select Energy Services Third Quarter Earnings ...

Select Energy Services, Inc. (NYSE:WTTR) Q2 2020 Earnings Conference Call August 5, 2020 10:00 AM ET Company Participants Chris George - Vice President, Investor Relations and Treasurer Holli Ladhani - President and Chief Executive Officer Nick Swyka - Senior Vice President and Chief Financial Officer Conference Call Participants Kurt Hallead - RBC Ian MacPherson - Simmons & Company Sean Meakim - JP Morgan Ryan Pfingst - B. Riley Operator Greetings, and welcome to the Select Energy Second Quarter Earnings C ...

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, 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 001-38066 SELECT ENERGY SERVICES, INC. (Exact name of registrant as specified in its charter) ...

Select Energy Services, Inc. (NYSE:WTTR) Q1 2020 Earnings Conference Call May 6, 2020 10:00 AM ET Company Participants Chris George - VP, IR & Treasurer Holli Ladhani - President, CEO & Director Nicholas Swyka - CFO & SVP Conference Call Participants J.B. Lowe - Citigroup Kurt Hallead - RBC Capital Markets Thomas Curran - B. Riley FBR, Inc. Ian MacPherson - Piper Sandler & Co. Sean Meakim - JPMorgan Chase & Co. Thomas Moll - Stephens Inc. Operator Greetings, and welcome to the Select Energy First Quarter Co ...

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, 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 001-38066 SELECT ENERGY SERVICES, INC. (Exact name of registrant as specified in its charter ...

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, 2019. 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 001-38066 Select Energy Services, Inc. (Exact name of registrant as specified in its charter) Delaware 81-4561945 (Sta ...

Select Energy Services, Inc. (NYSE:WTTR) Q4 2019 Earnings Conference Call February 25, 2020 10:00 AM ET Company Participants Chris George - VP, IR & Treasurer Holli Ladhani - President, CEO & Director Nicholas Swyka - CFO & SVP Conference Call Participants Sean Meakim - JPMorgan Chase & Co. Kurt Hallead - RBC Capital Markets Thomas Moll - Stephens Inc. John Lowe - Citigroup Operator Greetings, and welcome to Select Energy Services fourth quarter earnings conference call. [Operator Instructions]. As a remind ...

Financial Data and Key Metrics Changes - The company generated total revenue of $329 million in Q3 2019, an increase of $5 million quarter-over-quarter or $12 million considering the impact of last quarter's divestitures [28] - Adjusted EBITDA was $49 million, down $3 million from the second quarter, leading to a net income of $7 million [29] - Free cash flow reached $42 million in Q3, bringing the year-to-date total to $65 million, with expectations to exceed the high-end of the previously targeted 2019 free cash flow range of $65 million to $80 million [26][27] Business Line Data and Key Metrics Changes - Water services segment revenues declined 3% sequentially to $197 million in Q3 from $202 million in Q2, with gross profit before depreciation and amortization at $43 million [30] - Water infrastructure segment revenues increased by 24% from $52 million in Q2 to $64 million in Q3, with gross profit before D&A rising from $13 million to $17 million [33] - Oilfield chemical segment revenues increased by $5 million to $68 million in Q3, with gross margin before D&A improving from 14% to nearly 16% [34] Market Data and Key Metrics Changes - The company observed an 8% reduction in the number of active frac fleets during the quarter, alongside a 7% decline in the Baker Hughes horizontal rig count [14] - General completions activity is expected to decline by 15% to 20% from Q3 levels in Q4 due to typical winter slowdown and early budget exhaustion [21] Company Strategy and Development Direction - The company aims to strengthen its market position in Integrated Water and Chemical Solutions while delivering meaningful free cash flow [8] - Strategic initiatives include acquiring businesses that enhance capabilities, investing in technology, and focusing on organic growth opportunities [9] - The recent acquisition of Baker Hughes' water chemical services business is expected to complement existing water treatment capabilities and enhance customer relationships [17][20] Management's Comments on Operating Environment and Future Outlook - Management noted that while the third quarter faced macro challenges, operational performance was strong relative to the market [13] - The company anticipates a challenging Q4 but expects to rebound in 2020, focusing on cost management and capital allocation [42][99] - Management emphasized the importance of maintaining a debt-free balance sheet and generating substantial free cash flow [38][40] Other Important Information - The company has zero bank debt and a net cash position of $43 million as of September 30, with expectations for substantial additional free cash flow in Q4 [38] - The company plans to lower its previous 2019 CapEx target from $120 million to $140 million down to $100 million to $110 million [23] Q&A Session Summary Question: How does the focus on capital discipline by E&Ps impact water infrastructure investment opportunities? - Management sees operators looking at post-frack systems and smaller organic investment opportunities rather than large systems due to valuation challenges [46][49] Question: Can you elaborate on the WCS acquisition and its impact on the Chemicals business? - The acquisition is expected to enhance the integration of services and chemical capabilities, allowing for more effective customer solutions [56][57] Question: What are the dynamics of the water pipeline business heading into 2020? - Management remains optimistic about the pipeline's positioning and expects to commercialize it effectively, leveraging high-rate water sources [64][66] Question: What is the expected annualized revenue contribution from the WCS acquisition? - Management indicated that the margins from WCS would be similar to improved Chemicals margins seen in Q3, and it is expected to be accretive [67] Question: What is the outlook for capital allocation and potential share repurchases? - Management plans to maintain a focus on generating free cash flow, with a portion allocated to business investments and returning capital to shareholders [82][84]

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, 2019 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 001-38066 SELECT ENERGY SERVICES, INC. (Exact name of registrant as specified in its cha ...

Select Energy Services, Inc. Historical Segment Results | November 6, 2019 Disclaimer Statement 2 Cautionary Statement Regarding Forward Looking Statements This presentation contains certain statements and information that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, regarding Select Energy Services, Inc.'s ( ...