Financial Data and Key Metrics Changes - For the year 2025, the company generated over $1.6 billion in revenue and $353 million in Adjusted EBITDA, representing a 22% margin, which aligns with previously provided guidance [7] - Adjusted Free Cash Flow for the year was $127 million, more than doubling the amount generated in 2024, indicating strong operational efficiency [7][24] - For Q4 2025, revenue was reported at $382 million with Adjusted EBITDA of $88 million, reflecting a 23% margin for the quarter [7][22] Business Line Data and Key Metrics Changes - The company’s backlog increased by $196 million during Q4 to reach $2.5 billion, providing robust revenue visibility for 2026 [8] - The North and Latin America segment reported Q4 revenue of $130 million, down $21 million quarter-over-quarter, while the Europe and Sub-Saharan Africa segment saw a decrease of $10 million to $116 million [27][28] - The Middle East and North Africa segment delivered revenues of $93 million, with an EBITDA margin of 39%, reflecting a favorable activity mix [28] Market Data and Key Metrics Changes - Global demand for oil and gas remains resilient, supporting long-term investment, particularly in international and offshore markets [10] - The company anticipates a modest recovery in upstream investment, particularly in deepwater developments, which will support demand for its services [11] Company Strategy and Development Direction - The company aims to expand EBITDA margins and free cash flow generation through its Drive 2025 initiative and increased capital efficiency [12][19] - A commitment to technology and innovation is central to the company’s strategy, with a focus on leveraging acquired technologies across different geographies [15][20] - The company is pursuing selective, accretive mergers and acquisitions to enhance its capabilities and market presence [20][30] Management's Comments on Operating Environment and Future Outlook - Management maintains a cautiously optimistic outlook for 2026, expecting sequential improvements in the latter quarters despite a softer start due to seasonal factors [35][36] - The company is focused on expanding margins and cash generation, even in a potentially flat market environment [48][69] Other Important Information - The company closed the quarter with $551 million in total liquidity, including $198 million in cash, enhancing its net cash position [25] - The capital allocation framework prioritizes organic growth, M&A, shareholder returns, and maintaining a strong balance sheet [30][33] Q&A Session Summary Question: Can you talk more about the increase in wallet share? - The company is expanding wallet share by providing additional services in well construction operations, leveraging existing personnel to drive efficiency [39][40] Question: What are the market assumptions behind the 2026 guidance? - The guidance reflects current commodity prices and the expectation that offshore deepwater projects will maintain activity levels despite market fluctuations [45][46] Question: How does the tightening rig rate environment affect pricing? - The pricing climate has stabilized, and while there is limited ability to raise prices, there is no downward pressure, which is constructive for the company [79][81] Question: What are the exploration opportunities in the region? - Increased exploration discussions are expected, particularly in offshore areas, which could lead to more revenue opportunities for the company [61][62] Question: Has the current administration's stance on M&A changed the company's strategy? - The company remains focused on global opportunities and is not significantly influenced by the administration's stance on M&A [56][59]

Q4 & FY | 2025 Highlights Expro Group Holdings N.V. NYSE: XPRO Disclaimer This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this presentation that address activities, events or developments that Expro Group Holdings N.V. (the "Company") expects, believes or anticipates will or may occur in the future are forward- lo ...