Nabors Industries : Technology & Safety Committee Charter (Technology Safety Committee Charter 2025 02 06 reviewed)

Published: 2025-05-23 12:03:20 ET NBR

Published on 05/23/2025 at 12:03

The Board of Directors (the "Board") of Nabors Industries Ltd. (the "Company") has established the Technology and Safety Committee (the "Committee") to provide assistance to the Board in fulfilling its oversight responsibility for reviewing and monitoring the Company's compliance with health and safety standards; reviewing the Company's safety performance; and reviewing the Company's strategic technology position.

While it is the responsibility of management to assess and manage the Company's exposure to health and safety risks, the Committee will provide oversight by reviewing policies that govern these processes.

The Committee shall consist of at least three directors appointed by the Board, after considering the recommendation of the Environmental, Social and Governance Committee. The members of the Committee shall be elected at the first meeting of the Board following the annual general meeting of the shareholders or as necessary to fill vacancies in the interim. Members of the Committee shall be appointed by the Board upon the recommendation of the Environmental, Social and Governance Committee and may be removed by the Board in its discretion. Each member shall serve until his or her successor is duly appointed and qualified or until such member's resignation or removal by a majority vote of the Board or by unanimous written consent of the Board.

The responsibilities of a member of the Committee are in addition to those responsibilities of a member of the Board. Each member of the Committee may be compensated separately for his or her service, in accordance with the Company's policies regarding director compensation.

The Committee shall meet, either in person, utilizing audio/video connection, or telephonically, at least quarterly and may meet more frequently as the Committee deems appropriate. Any member of the Committee may call a meeting of the Committee. The presence of at least fifty percent (50% of the members of the Committee shall constitute a quorum for the transaction of business. All Board members are invited and encouraged to attend meetings of the Committee. Additionally, the Committee may invite to its meetings any member of the Company's management and such other persons or advisors as it deems appropriate to carry out its responsibilities.

The Committee shall have the following responsibilities:

To review the Company's health and safety policies and oversee the Company's monitoring and enforcement of these policies and the related procedures and practices.

To oversee, review and receive updates on the Company's health and safety policies, programs and practices, its competitors' activities, and industry best practices.

To oversee, review and receive updates on the Company's strategic technology position, including intellectual property, patents and trademarks.

To oversee, review, and receive updates on the Company's information technology systems, including the potential for and mitigation of cybersecurity threats.

To review with management disclosures in all filings with the Securities and Exchange Commission to the extent that such filings contain disclosures related to the Company's health and safety performance or other related matters.

To review and discuss any significant health and safety public policy, legislative and regulatory issues and trends that may affect the business operations or financial performance of the Company or the industry, and management's response to such matters.

To meet with the Risk Oversight Committee, at least annually, to discuss the foregoing with respect to the Company's overall enterprise risk management.

To maintain written minutes of all meetings and consent actions, which shall be recorded or filed with the books and records of the Company and made available to the Board.

To review and assess the adequacy and appropriateness of this Charter and the Committee's own performance, the results of which, and any proposed changes, to be presented to the full Board.

To make regular reports to the Board with respect to its activities.

Such other responsibilities as determined by the Board from time to time.

In addition to the responsibilities set forth above, the Committee shall have the authority:

To delegate any of its responsibilities to subcommittees or individuals as the Committee may deem appropriate in its sole discretion.

To retain or obtain the advice of consultants, outside counsel and other advisors as the Committee shall deem appropriate in its sole discretion. The Committee shall be directly responsible for the appointment, termination, compensation and oversight of the work of such consultants, outside counsel and other advisors and shall have sole authority to determine and approve reasonable related fees, which the Company shall fund, and retention terms. The Committee shall conduct an assessment of the consultants, outside counsel and other advisors on an annual basis.

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Disclaimer

Nabors Industries Ltd. published this content on May 23, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 23, 2025 at 16:02 UTC.