Core Viewpoint - NOV Inc. has appointed Sanjay Chowbey to its Board of Directors, effective March 17, 2026, aiming to leverage his extensive experience in global manufacturing and operational excellence to enhance shareholder value [1][2]. Group 1: Appointment Details - Sanjay Chowbey's appointment to the Board is effective March 17, 2026 [1]. - With this appointment, the Board now consists of nine directors, eight of whom are independent members [4]. Group 2: Sanjay Chowbey's Background - Mr. Chowbey has over 20 years of experience in leading global manufacturing and industrial technology businesses, currently serving as the President and CEO of Kennametal Inc. [2]. - He has held various senior roles in prominent companies, including President of Flowserve Corporation's Services and Solutions business, and has experience with Danaher Corporation and Arvin Meritor, Inc. [3]. - Chowbey is also a member of the Board of Directors for the National Association of Manufacturers (NAM) [3]. Group 3: Educational Qualifications - Mr. Chowbey holds a Bachelor of Science in Mechanical Engineering from B.I.T. in Sindri, India, a Master of Science in Mechanical Engineering from Tennessee Technological University, and an MBA from the Kellogg School of Management at Northwestern University [4]. Group 4: Company Overview - NOV delivers technology-driven solutions to empower the global energy industry and has been innovating for over 150 years to enable safe and efficient energy production while minimizing environmental impact [5].

Financial Performance - Sales reached $498 million, reflecting 3% organic growth[4] - Adjusted EBITDA was $76 million with a 153% margin[4] - Adjusted EPS stood at $034, compared to $029 in the prior year[4, 11] - The company returned $25 million to shareholders through $10 million in share repurchases and $15 million in dividends[4, 11] Segment and Regional Growth - Metal Cutting and Infrastructure segments both experienced 3% organic growth[11] - Americas region saw a 7% sales growth in constant currency[11] - Aerospace & Defense sector experienced a 20% sales growth[11] Outlook and Restructuring - The company is on track to deliver approximately $35 million in restructuring savings[37, 40] - FY26 sales are projected to be between $210 billion and $217 billion[37] - Adjusted EPS for FY26 is expected to be in the range of $135 to $165[37] Balance Sheet - Net debt was $4949 million[32] - Free Operating Cash Flow (FOCF) was $(5) million[4] - Primary Working Capital as a percentage of sales was approximately 32%[35, 37]