Weatherford International Investor Presentation — October 2020

Document content

INVESTOR PRESENTATIONWEATHERFORD INTERNATIONAL PLCQ3 |2020

©2020 Weatherford International plc.All rights reserved.Q3’20 EARNINGS PRESENTATION

Thispresentationcontainsprojectionsandforwardlookingstatementsconcerning,amongotherthings,WeatherfordInternationalplc’s(“Weatherford”orthe“Company”)prospectsforitsoperationsandexpectationsregardingfuturefinancialresultswhicharesubjecttocertainrisks,uncertaintiesandassumptions.Theserisksanduncertainties,whicharemorefullydescribedinWeatherford’sreportsandregistrationstatementsfiledwiththeSEC,includebutarenotlimitedtorisksassociatedwithdiseaseoutbreaksandotherpublichealthissues,includingCOVID-19pandemic,andtheirimpactontheglobaleconomy;Weatherford'spreparednessforandresponsetotheCOVID-19pandemicandtheimpactoflogisticalissuesandbusinessinterruptionsassociatedwithCOVID-19pandemiconWeatherfordanditscustomersandsuppliers;themacroeconomicoutlookfortheoilandgasindustry;commoditypricesanddemandforourgoodsandservices;ourabilitytorealizecostsavingsandbusinessenhancementsfromourrevenueandcostimprovementefforts;andchangesinourseniormanagement.Shouldoneormoreoftheserisksoruncertaintiesmaterialize,orshouldtheassumptionsproveincorrect,actualresultsmayvarymateriallyfromthosecurrentlyanticipated.Thispresentationincludesnon-GAAPfinancialmeasureswhichwebelieveprovideusersofourfinancialinformationwithadditionalmeaningfulcomparisonsbetweencurrentresultsandresultsofpriorperiodsaswellascomparisonswithpeercompanies.Thenon-GAAPamountsshouldnotbeconsideredassubstitutesforoperatingincome,provisionforincometaxes,netincomeorotherdatapreparedandreportedinaccordancewithGAAP,butshouldbeviewedinadditiontotheCompany’sreportedresultspreparedinaccordancewithGAAP.PleaserefertotheappendicesincludedhereinandourthirdquarterearningsreleaseforareconciliationofGAAPtothenon-GAAPfinancialmeasures.Allfinancialresultsinthispresentationareunaudited.Uponcompletingitsfinancialrestructuringinlate2019,theCompanyadoptedfresh-startaccountingresultinginWeatherfordbecominganewentityforaccountingandfinancialreportingpurposes.AsrequiredbyGAAP,resultsuptoandincludingDecember13,2019arepresentedseparatelyasthepredecessorperiod(the“Predecessor”period)andresultsfromDecember14,2019andonwardsarepresentedasthesuccessorperiod(the“Successor”period).TheresultsfromthesePredecessorandSuccessorperiodsarenotcomparable.Nevertheless,fordiscussionpurposesherein,theCompanyhaspresentedtheresultsofthePredecessorandSuccessorperiodsaswebelievethisprovidesthemostmeaningfulbasistoanalyzeourresults.2DISCLAIMER ©2020 Weatherford International plc.All rights reserved.Q3’20 EARNINGS PRESENTATION

H. Keith Jennings Executive Vice President and Chief Financial OfficerScott C. WeatherholtExecutive Vice President, General Counsel and Chief Compliance Officer Girish K. SaligramPresident and Chief Executive Officer

Karl Blanchard Executive Vice President and Chief Operating OfficerCOMPLETED LEADERSHIP TRANSITION©2020 Weatherford International plc.All rights reserved.Q3’20 EARNINGS PRESENTATION