3Q 2025 Earnings Presentation NABORS INDUSTRIES October 29, 2025 NABORS INDUSTRIES 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 pr ...

Financial Performance and Outlook - The company expects to grow production by approximately 20% through 2027 with a reinvestment rate of less than 50%[12] - Cumulative free cash flow is projected to be greater than $2 billion from 2025-2027[28] - The company anticipates annual capital expenditures between $650 million and $700 million from 2025-2027[28] - The company's free cash flow breakeven is approximately $200 per Mcfe[28] Asset Base and Inventory - The company possesses over 30 years of high-quality Marcellus inventory[7, 14] - The company has approximately 440,000 net acres in Southwest Pennsylvania[15] - The company has approximately 70,000 net acres in Northeast Pennsylvania[15] - The company has 28 million lateral feet of undrilled Marcellus at YE 2024[16] Market Access and Strategy - Approximately 30% of the company's natural gas is directed to the Midwest market[18] - Approximately 25% of the company's natural gas is directed to the Gulf Coast market[18] - Approximately 25% of the company's natural gas is directed to LNG and premium Gulf markets[18]

Core Insights - Equinor reported lower-than-expected earnings for Q3 2025, with adjusted operating income of $6.21 billion, below the consensus estimate of $6.31 billion and down from $6.89 billion in Q3 2024 [1][2] Production and Financial Performance - The company increased its oil and gas production by 7% year-on-year, reaching 2.130 million barrels of oil equivalent per day in Q3 2025, supported by strong production from the Johan Sverdrup field and new fields [2][3] - Equinor maintained its guidance for 4% hydrocarbon production growth for the year and approved a cash dividend of $0.37 per share for Q3 2025, consistent with its earlier plans [3] Strategic Adjustments - In February 2025, Equinor announced a significant reduction in investments in renewables and low carbon solutions to around $5 billion, citing the need to enhance shareholder returns amid an "uneven energy transition" [4] - The company aims to increase oil and gas production by over 10% by 2027 through the development of profitable projects and infrastructure-led exploration in the Norwegian Continental Shelf [5]

Core Insights - The report highlights the challenges faced by the U.S. in securing a stable supply chain for critical minerals essential for the energy transition, particularly in sectors like electric vehicles, solar power, and AI data centers [1][2][10] - It emphasizes the need for a balanced approach between domestic production and international cooperation to overcome supply chain vulnerabilities [10][20] Supply and Demand Gap - The U.S. has limited domestic reserves for many critical minerals, leading to a reliance on imports. By 2035, only zinc and molybdenum are projected to achieve supply-demand balance domestically, while significant imports will still be necessary for copper, lithium, and other minerals [2][20] - For copper, the demand is expected to reach nearly 2.92 million tons by 2035, with domestic production only able to meet 180,000 tons, resulting in a shortfall of over 110,000 tons and an import dependency of 62% [2][20] - Lithium demand is projected to exceed 107,000 tons by 2035, with domestic supply only reaching 28,000 tons, leading to an import dependency of over 280% [2][20] Processing and Smelting Challenges - The U.S. faces significant shortcomings in the smelting and processing stages of the supply chain, with only three copper smelting facilities currently operational, which are insufficient to meet domestic processing needs [3][20] - China's expansion in midstream processing capabilities poses a "choke point" risk for the U.S. in the critical minerals supply chain [3][20] Policy Contradictions - Recent U.S. policies, including the One Big Beautiful Bill Act (OBBBA), aim to bolster domestic mining but simultaneously phase out tax credits that could enhance mining competitiveness, creating a structural dilemma [4][21] - Tariff policies have been inconsistent, leading to market volatility and raising questions about the stability of U.S. mineral policies [4][5][21] Proposed Solutions - The report suggests a comprehensive domestic strategy that integrates the entire mining ecosystem, including streamlined permitting, modern equipment, and efficient logistics networks [6][23] - A "friendshoring" approach is recommended, focusing on partnerships with allies and resource-rich developing countries to diversify supply chains and reduce reliance on any single nation [7][23] - Innovative policy mechanisms, such as guaranteed price contracts with miners, are proposed to provide investment certainty while avoiding the pitfalls of blanket tariffs [8][24] Conclusion - The U.S. must enhance its domestic capabilities while fostering international partnerships to secure a stable supply of critical minerals, balancing resource security with manufacturing competitiveness [10][25]

November 3, 2025VANCOUVER, British Columbia, Oct. 28, 2025 (GLOBE NEWSWIRE) -- Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) President and Chief Executive Officer, Jonathan Price and members of Teck’s executive management team will be presenting on Monday, November 3, 2025 from 10:55 a.m. to 1:30 p.m. Eastern / 7:55 a.m. to 10:30 a.m. Pacific time as part of Teck’s QB Operations Site Visit. A webcast to view the event will be held as follows: Date:Monday, November 3, 2025Time:10:55 a ...

Core Insights - Assystem S.A. reported consolidated revenue of €484.2 million for the nine months ended 30 September 2025, reflecting an 8.7% increase compared to the same period in 2024 [1][4]. Revenue Breakdown - The group's revenue growth consisted of 5.4% organic growth, a positive 4.1% impact from changes in the scope of consolidation, and a negative 0.8% currency effect [4]. - Revenue from France was €284.8 million, representing 59% of the total, with a 2.1% growth entirely from organic sources [7]. - International revenue reached €199.3 million, accounting for 41% of the total, with a significant 19.7% year-on-year increase, including 10.9% organic growth [7]. Quarterly Performance - In Q3 2025, consolidated revenue increased by 9.4% to €157.7 million, with organic growth at 6.8% [3][12]. - The positive impact from changes in the scope of consolidation was 4.8%, while currency effects negatively impacted revenue by 2.2% [3]. Strategic Developments - Assystem's nuclear activities contributed to 76% of total revenue for the nine-month period, indicating a strong focus on this sector [4]. - The company is expanding internationally, with new subsidiaries in Kazakhstan and Canada to support nuclear program implementations and North American market needs [7]. Future Outlook - Assystem maintains its full-year 2025 targets, aiming for around 5% organic consolidated revenue growth and a stable EBITA margin [5][6].

Third Quarter 2025 Earnings Presentation NOV Inc. Safe Harbor / Forward Looking Statements / Non-GAAP Financial Measures © 2025 NOV Inc. All rights reserved. 2025 Earnings Presentation – 10/28/2025 3 Third Quarter 2025 Highlights Bookings Book-to-Bill of 141% This document contains, or has incorporated by reference, statements that are not historical facts, including estimates, projections, and statements relating to our business plans, objectives, and expected operating results that are "forward-looking st ...

Group 1: Exxon Mobil's MoU with Gabon - Exxon Mobil Corporation has signed a memorandum of understanding (MoU) with the Gabonese government to explore deepwater and ultra-deepwater areas for potential oil and gas reserves [1][9] - This MoU indicates ExxonMobil's increasing presence in Africa, where it already operates in countries such as Nigeria, Mozambique, and Angola [2] - The agreement may signal ExxonMobil's return to Gabon, which is currently facing declining crude production levels, having decreased from a peak of 370,000 barrels per day in 1997 to 240,000 barrels per day in August 2025 [3][9] Group 2: Context of Gabon's Oil Production - Gabon's government is actively seeking to reverse the trend of declining production levels, and the MoU with ExxonMobil could aid in discovering new resources to support these goals [3] - The last significant activity by ExxonMobil in Gabon was a hydrocarbon discovery made in collaboration with Chevron Corporation in 2006, but currently, the company does not hold any exploratory acreage in the country [2] Group 3: Upcoming Financial Results - ExxonMobil is scheduled to release its third-quarter results on October 31, 2025, before market open [4]

Financial Data and Key Metrics Changes - The company reported a record backlog of $720 million, up approximately 64% year-over-year and 5% sequentially [6][14] - Quarterly revenue reached an all-time high of $198 million, representing a 46% increase year-over-year [8][15] - Adjusted EBITDA increased by 62% to $23.2 million, with adjusted EPS rising 86% to $0.26 [9][16] - Free cash flow for the quarter was approximately $19 million, showing a strong rebound from the first half of 2025 [9][23] Business Line Data and Key Metrics Changes - The company achieved new bookings of $233 million in Q3 2025, a 44% increase compared to Q3 2024, with a book-to-bill ratio of approximately 1.2x [7][14] - Approximately 30% of the year-over-year revenue increase was attributed to recent acquisitions, with the remainder from organic growth [16] - The sales pipeline now exceeds $5.8 billion, indicating strong future growth potential [8][34] Market Data and Key Metrics Changes - The company is well-positioned in sectors such as power generation, industrial water, and natural gas infrastructure, with substantial order growth expected in these areas [11][12] - The company anticipates significant orders in the next four to six quarters, particularly in international water infrastructure projects [12][28] Company Strategy and Development Direction - The company aims to maintain a strong market presence by optimizing project pricing and margin levels while expanding into new geographies [12][13] - The focus remains on building a world-class industrial company through strategic M&A activities and enhancing operational excellence [13][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate potential challenges such as tariffs and inflation while maintaining a strong growth trajectory [14][28] - The outlook for 2026 includes projected revenue between $850 million and $950 million, reflecting a year-over-year increase of 15%-25% [29][30] Other Important Information - The company has not announced any new M&A transactions since the sale of its global pump business and the acquisition of Profire Energy, but remains active in building its M&A pipeline [13][26] - The company expects to achieve a net debt to EBITDA leverage ratio of approximately 2.3x, improving its financial flexibility [25] Q&A Session Summary Question: Update on project pipeline in industrial water and power generation - Management highlighted strong positioning in large projects, particularly in the Middle East and Asia, focusing on produced water and water reuse applications [38][39] Question: 2026 outlook and potential for upward adjustments - Management indicated that the $5.8 billion sales pipeline provides high confidence for future bookings, with potential for exceeding current guidance based on project wins [40][42] Question: Activity levels in power generation and data center connections - Management noted robust activity in the power generation sector, with a well over $1 billion pipeline, but cautioned against over-expectation due to the multi-year nature of these projects [46][48] Question: Confidence in adjusted EBITDA margin expansion - Management expressed confidence in achieving 100-150 basis points of margin expansion through volume growth, operational excellence initiatives, and cost management [51][53] Question: Opportunities in disaggregated power solutions - Management acknowledged potential opportunities depending on the type of power solutions chosen, with a focus on small format gas turbines [60] Question: Macroeconomic backdrop for 2026 guidance - Management indicated a stable macroeconomic environment is assumed, with no significant positive or negative changes expected [68][70] Question: Cross-selling opportunities with Profire - Management confirmed ongoing discussions and initiatives to leverage Profire's offerings across CECO's broader industrial customer base [71][74] Question: Confidence in Q4 bookings potentially being the largest ever - Management cited strong order performance and ongoing dialogues with customers as reasons for confidence in achieving record bookings in Q4 [75][77]

Financial Data and Key Metrics Changes - The company reported a record backlog of $720 million, up 64% year-over-year and 5% sequentially [15][19] - Quarterly revenue reached $198 million, marking a 46% increase year-over-year [16][17] - Adjusted EBITDA increased by 62% to $23.2 million, with adjusted EPS rising 86% to $0.26 [9][17] Business Line Data and Key Metrics Changes - The company achieved $233 million in new bookings, a 44% increase compared to Q3 2024, with a book-to-bill ratio of approximately 1.2 [6][15] - The backlog growth was driven by strong demand in power generation, natural gas infrastructure, and industrial water applications [16][19] Market Data and Key Metrics Changes - The sales pipeline now exceeds $5.8 billion, indicating strong future growth potential [8][35] - The company is well-positioned to benefit from market dynamics in power, industrial reshoring, and water infrastructure sectors [11][12] Company Strategy and Development Direction - The company is focused on expanding its capabilities in industrial air and energy applications while optimizing project pricing and margins [12][50] - There is an ongoing emphasis on M&A opportunities to enhance the sustainability of the company's portfolio [13][27] Management's Comments on Operating Environment and Future Outlook - Management remains bullish about the market dynamics and has reaffirmed the full-year 2025 outlook while providing an optimistic initial outlook for 2026 [5][31] - The company is monitoring potential challenges such as tariffs and inflation but believes it is well-prepared to navigate these issues [14][30] Other Important Information - The company expects Q4 bookings to exceed $250 million, with the potential for a record quarter above $300 million depending on project timing [10][68] - The company has made significant investments in operational excellence and cost management initiatives to drive future profitability [23][50] Q&A Session Summary Question: Update on project pipeline in industrial water and power generation - Management indicated strong positioning in large projects, particularly in the Middle East and Asia, focusing on produced water and water reuse applications [38] Question: Visibility on 2026 outlook and potential for upward adjustments - Management expressed confidence in the $5.8 billion sales pipeline and noted that winning additional large projects could enhance the 2026 outlook [39][40] Question: Update on power generation pipeline and activity levels - Management noted robust activity in the power generation sector, with a pipeline exceeding $1 billion, and emphasized the multi-year nature of these projects [44][46] Question: Confidence in targeted adjusted EBITDA margin expansion - Management outlined a three-pronged approach to margin expansion, focusing on volume growth, operational efficiencies, and cost management initiatives [48][50] Question: Cross-selling opportunities with Profire Energy - Management highlighted ongoing discussions and initiatives to leverage Profire's offerings across CECO's broader industrial customer base [63][66] Question: Macroeconomic backdrop for 2026 guidance - Management indicated a stable macroeconomic environment, with no significant changes expected to impact the company's outlook [60][62]